stuart: maria, i could not hear what you said but i wish you very good morning on this veterans day. welcome to the show on this wednesday november 11, veterans day and we honor those who served. on this special day, look at this, stock prices going up again. the dow jones up 11% just this a month. key political developments, tom tillis has one in north carolina meeting the republicans are likely to keep control of the senate meaning divided government and investors like it.

the dow jones up another 160 points at the opening bell in all likelihood and look at the nasdaq, looking at the recovery of some big tech stocks because the nasdaq is up 110. stocks up again. alibaba, amazon may be the stock in the company picketed the stock is down again after beijing issued regulation. altogether they lost about a quarter chilean dollars a quarter trillion dollars, but i'm calling it the company of the day because single day has started and so far it's brought in a record $56 billion. we have a related story that has real significance and relevance to american politics. in hong kong democracy advocates resign from the legislature. beijing now has a freehand democracy movement squashed. what will incoming president biden do about

this? don't know but it put china relations back, from better. i will update the virus situation, not good. saturday's big college game alabama versus lsu canceled, covid hit it and a number of new cases continue to run at record levels we see restrictions coming back new jersey a positivity rate of nearly 19% will go on the curfew after 8:00 p.m. 11 california counties impose new restrictions and associates minnesota. maryland rolls back restaurant capacity, all of this may slow the economic recovery, but it has not stopped the stock market rally at this point. "varney & co." is about to begin. ♪ ♪

stuart: there you go. that's a good way to start. it is veterans day can guess we are celebrating with a big show. coming up, look at this, pete joins us along with micro and martha mccowan and onto the 11:00 a.m. hour with charles payne, katie mcfarlane and brett baer, big show. we have a developing-- development. this is of great importance for politics and money in america. hong kong pro-democracy lawmakers designing-- resigning. susan: it's also a great theme of communism versus capitalism. china is muscling into hong kong to crush the senate with a new law imposed allowing the removal of any sitting politician that disagrees.

they kicked out for pro-democracy lawmakers which then motivated the entire opposition bloc to resign in protest. imagine if this happened here in the electorate duly elected politicians at officials kicked out of their seats because they simply disagreed. it's another move that signals a tightening of control over hong kong which means a lot of money because hong kong is the fourth-largest stock market in the world and investors have concerns over the city's future economy and the eroding a in a free market policies. you want your money in hong kong. stuart: what will president-elect biden do about it? what will he say and when will he say it? susan: and how heavy-handed will he be with china? stuart: a good question. let's check the markets again. look who's here. shah gilani is back. we went back and looked, may 27, of this year he

said we would see new highs by the end of the year or sooner. you got that right. give us your next prediction. >> i would also like to say happy veterans day for the veterans and thank them for their sacrifice and their families or standing by them. americans this should stand behind them 100%. i do and i want to say happy veterans day. the marked is consistent and it's been consistent since the late spring when markets went higher. they tell us now they want to go higher still. before the election the tech's markets led. it looks good for the future because right now all systems are go. it's a risk on trade, rotation trade and we have yet to see stimulus there's a lot of poverty -- positive behind the market so i think i think the next

couple months will be bright. stuart: when you say tremendous, give me a number, what will the dow jones hit by the end of next year? >> i see the dow jones at least 33000 my probably mid- late summer, possibly 35000 by the end of the year if all systems are go in earnings pick up as they have post shall we say pandemic. the restructuring in terms of overhead and operation was so swift that now koreans are picking up, margins are picking up. i think we continue to see that through the first couple quarters of next year, obviously the whole year and that means investors will price that in and as earnings growth so can the market. stuart: shah gilani, you have arrested our attention with a 33000 on the dow jones prediction by the end of next year. you have been ripe for a couple of years i wonder if he will be right next year.

i hope you are. thank you. i want to get to alibaba , big numbers from singles day but the stock is down again. sorted out. susan: down because the more china government oversight of a big tech. sound familiar? stuart: it does. susan: the us is not the only place that feels the need to rein in big tech. china does as well so beijing unveiling new rules limiting technology players, no specifics yet. it's no longer hands-off when it comes to china and technology in these big giants losing around $290 billion collectively over the past two trading sessions. alibaba down 10% almost yesterday and we are down another one and half selling over $56 billion as you mentioned in 24 hours. we still on three hours to go for singles day but the single largest shopping, 56 billion in 13 hours.

stuart: very impressive, but it's overshadowed by this possible move to regulate big tech in china. susan: interesting the communist party may not be comfortable with capitalism and private enterprise. i think that's the message is. stuart: and not comfortable with hong kong either. china news very much up front. we have domestic news about the real estate market. mortgage demand from home buyers has a dropped to the lowest level in the six months lauren, what's going on? lauren: 's homes are getting too expensive. that's the problem. seasonally adjusted numbers down 3% last week, but up 60% from last year so the annual number is still up, but not those huge increases we were accustomed to seeing. i'm going to read what the mortgage bankers association has to say explaining the fall for last week as they say it's inadequate housing supply putting upward pressure on home prices

and impacting affordability particularly for first-time homebuyers. refinances, we like to talk about those as they are relatively strong up 1% on the week and a 67% on the year. stuart: thank you. i think we need an economist on the show and we have one, john lonski is with us. i read your stuff. you are saying home sales will boom and a boost 2021 consumer spending. okay, i got that. but, home prices are going up so much that people can't afford to buy. won't that interrupter forecast? >> well, that does present a risk to the forecast, but if home prices are too high and homes aren't selling then home prices will have to be lowered in order to sell, so it very well might be that some home sellers have overestimated the market clearing price for their home and will have to adjust accordingly.

stuart: back to the futures for me and regardless of politics, is the virus going to determine the fate of this economy? >> you bet it will, i mean, my goodness, if we have an effective vaccine by early next year, then i think it's practically assured that gdp will grow by four and a half percent in 2021. recently we have had some case of resurgence of covid-19 that's increasing risk. that will be worth watching quite closely to see whether or not it inflicts any damage on business activities. stuart: let me repeat. you say the virus vaccine, which should be widely available next year will result in a 4% growth in america's economy in 2021. that's impressive forecast. >> i feel very confident

about the. i think you will see consumer spending make up for what was supposed on in 2020. real consumer spending again growing by roughly four and half percent and may i add, for five consecutive months these 50 economists surveyed by blue-chip economic indicators have been revising upward growth forecast for this year and their latest forecast for 2021 is that 4%. that 4% growth forecast doesn't include the possibility that we get covid-19 completely out of the way by midyear. stuart: that's interesting stuff. john lonski, thank you for joining us. again, back to features because we have the market going higher still. right now a gain of about 150 for the dow jones average. it's quite possible you

-- quite possible you will see a record all-time high for the dow industrials today. joe biden slamming the president's refusal to concede the election. watch this. >> welcome i just think it's unembarrassed men's , quite frankly. i think it will not help the president's legacy. stuart: pete, i'm sure will have a lot to say about that. he joins me at the top of the 10:00 a.m. hour and there is this, the governor of texas, greg abbott says his state may soon become quote the financial nerve center of the world. that's a big statement. it's a big story and we will cover it for you. back after this. ♪ ♪

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stuart: if you are just joining us, the word is up, green on the left-hand side with the markets going higher again this wednesday morning, veterans day. the nasdaq and other trading exchanges are meeting with the governor of texas about moving their data centers to texas. is this about texas? susan: because new jersey is threatening a quarter of a set pox on each and every trade and that would generate roughly $10 billion each year for the state, but it would cost exchange like the nasdaq and new york stock exchange who have their data centers in new jersey and they will be taxed. texas says come here instead and with lower taxes to know taxes the

governor said to meet with the executives next week and they are trying to lure them to the lone star state. that makes sense took texas has been successful in convincing apple and tesla to open factories. no income taxes, lower income taxes and generous tax incentives. when i think about it, texas may be a major beneficiary of a biden white house if there are higher taxes is. stuart: certainly the beneficiary of higher taxes in new jersey. susan: possibly. stuart: they have never met a tax they didn't like. look who is here, the cofounder. welcome back to the program. good to see you. i want you to join in because i understand you are moving some of your venture-capital people out of california and you are going to texas. it's a-- is there more to texas than just low taxes? >> i'm a proud texan

these days. texas is like going to california 400 years ago, very welcoming, dynamic a comic, affordable. beating california and every method, education, pollution, homeless. we have more fortune 500 companies. stuart: you really couldn't handle california any longer. wasn't that bad? >> you know, i have been lucky to help build over 10 successful companies and when you try to hire someone in california you pay $250,000 a year to come there and they feel poor. you pay them back here and they are living really well. i would much rather do that in a place with a reasonable cost of living. stuart: let me talk about palantir, deep data miners and i understand you work with the cia, pentagon and i think you helped find out where osama bin laden was in some people because

of that think of it as rather a sinister company. do you want to answer that one? >> sure. i was proud to help started 17 years ago. listen, the goal in mission was to always be the top private engine in the world and that means you are helping to get the bad guys been doing in a name way way to protect civil liberties. you make sure they are our audits and follow the rules better the technology the more people are allowed to do only what they are supposed to do. stuart: are you doing voter analysis of last week's election you have access to all kinds of information on just about anyone. doing any analysis that we are week after the election? >> the way it works is it works directly with clients to empower them to use their own data to solve the problems so for example helping 35 countries with their pandemic.

it doesn't do the work itself in these days because i started-- i don't run anymore so i don't know what they are doing on the motor side. stuart: you started it, but you don't run it in a longer. you walked away? >> i started several other companies, so i have people better at running a 3000 person company then i am. stuart: you have done well, having to? >> well, i have a lot of smart friends. that's how it works. stuart: you may be surprised to learn that this program celebrates success with o-uppercase-letter's and we love people that claim to the top of the food chain. glad you were on the show. i hope you come back again and tell us what life is like in texas. >> i appreciate it. stuart: thank you. here's an interesting story, just got this. the ceo of pfizer unloaded a large amount of the company's a

stock. i want to know, lauren, when did he sell and how much a stock did he sell? lauren: he sold monday and $5.6 million worth of stock. he cashed out 60% of his holdings on the same exact day pfizer unveiled the results of the covid-19 vaccine trials being that 90% effective. he sold more than 132,000 shares. he sold them pennies shy of the highest price of the year for pfizer stock which was about $42. it was a stock sale kerry through, predetermined trading plan that just happened to be monday, the same day of the 90% effectiveness news. stuart: we will leave it at that took a bus stop this morning up slightly. overall, we are going up again this wednesday. 170 points up for the dow jones on the 100, 25

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stuart: looking at the futures as we go up. look who is here, mark tepper. here's how i see it, may i inject opinion? i think we are shifting away from lockdown stocks going towards open up stocks, open up the economy because we have a vaccine. what to say you? >> i mean, that's what's happening, so if you look under the service the headline number stock market moves higher, but under the surface you see the rotation you just mentioned is so investors are selling all of the year's winner, cloud stocks, stay-at-home, staycation, e-commerce and moving into more cyclical stock like travel stock so i would say don't fall for it. it's presenting us with a by the dip opportunity and some of the best performers because the world has structurally changed and permanently changed even with the vaccine. our lives and economy hasn't changed, so i

think you should keep your eyes on the winners stuart: so virtual will stay with us? sending virtual is not going away just because we have a vaccine, so i guess would you like zoom? i mean, it took a huge hit the last couple of days. are you buying it? >> zoom looks interesting, i mean, it's about 6% off its high and i think it is still a little extensive. if it dropped another 10% it looks interesting. full disclosure, i own a microsoft which has a zoom competitor so i'm not dying to get into it but if the price is right it looks attractive. businesses have embraced using zoom. just because there's a vaccine doesn't mean business travel will suddenly snap back. people will still conduct a visit-- business via zoom and docusign. stuart: zoom this morning is up $15. you mentioned microsoft and i see it's up today. are you buying the big tech dip?

>> absolutely, i mean, microsoft is a name that really belongs in everyone's portfolio, i mean, it's probably 5% weighting in the s&p 500 to begin with, but he gives exposure to cloud through azure, through the hybrid cloud through businesses that already have legacy cloud equipment in place. it can kind a fill the gap for them to switch over to more cloud -based it and obviously the zoom competitor. stuart: before we open the markets on hearing a lot of bullish calls, really really bullish calls for next year and we have had shah gilani say we will hit 33000 on the dow jones next year. jp goldman say is 4300 on s&p, major rallies coming next year. and 20 seconds can you tell me if you agree or not? >> i don't-- you know over 4000 s&p seems pretty high.

i think we have pulled forward a summer turns into this year. i don't think we will see record on the s&p 500 next year. i think we continue to move higher, but i think those targets are high. stuart: thank you for joining us. opening bell of the wrong with military people ringing the bell. we are off and running. we are up 155 on the dow jones, 29590. if you close at that level you have a new all-time closing high for the dow industrials. 29570 as we speak and more than half the dow 30 is in the green. let's look at the s&p. dow jones up one half percent, s&p up close to two thirds of 1% and the nasdaq a nice bounce up .80%. i will run through some stocks that have been active recently. the vaccine makers this morning, most of them higher.

bio intact coming down a fraction but it's had a tripping friend recently. look at moderna come up. airline and all over the place recently, mostly higher this week, holding ground this morning, not much change. cruise lines, same story, big gains earlier in the week because of the vaccine and a mixed picture the story. again, same story earlier in the week went straight up for the vaccine, mixed picture today. no real follow-through there, mostly lower but only slightly so. i want to look at big tech. we always look at big tech. that's where the money is. all of them are higher. susan: they are even higher than that in the premarket. who knows. this is a path in the growth to value rotation we have seen all week long. widest gap between the two sectors. .com. bubble 20 years go with investors selling big tech buying energy, financial. energy sector is up 17%,

financials up 9%. i have to bring in the famous investor benjamin graham, one of the most quoted by jeff bezos, warren buffett and he says in the short term the stock market is a voting machine but in the long-term it's a weighing machine meaning in the end over your private sales matter and these big tech names have proven over and over even during the depths of covid that they continue to make a ton of cash and reward shareholders. stuart: i'm not selling microsoft. i'm still making money. susan: good for you. i cannot believe that's only tech stock you own. stuart: i have a little bit of alibaba. susan: no apple, facebook or google? stuart: no. i'm out of all these a stock. i missed them all. tell me about alibaba. that stock is down $4. they lost yesterday. susan: based on regulation, in pending chinese tech regulation.

stuart: tell me about singles day. susan: should be a boost to the bottom line. biggest a single shopping event on the planet. sales are roughly $30 million so that's up about 20% from last year and analysts say when it dust settles it will be double last year's take. compare the $56 billion in 24 hours to amazon nine to 10 billion over to prime days and that's five times more. we know foreign brands are expected to be a big hit with pent up demand to buy foreign goods. indications are apple was the number one brand on the wish list going into singles day with iphone 12 the most wanted item and we know the 5g handset is made to sell in the chinese market because there's 5g everywhere and 50% of smart phones sold today are 5g and nike should

also do well during singles a day. stuart: we don't know how many iphone 12's household? susan: no, but analysts say a huge 24 hours. stuart: up 114 on the dow jones, 295. lift on the upside this morning. what's going on? ashley: they are pivoting now to food delivery because ridership is down and they went to do so in a way others don't. for instance, find a way to bring down expensive commissions the restaurants complain about. the stock is up even though they reported a loss and a quarter. revenue fell by-- half to $500 million. the bad news is it's an improvement or we always talk about how it can be confusing for the market bad news is bad, better than expected. look at ridership, 12.5 million active writers in the quarter. that was down 44% from

12 months ago, but up 44% from three months ago, so i guess they are doing better recently. that's why investors are optimistic they are not out of the park. there are so many challenges for the ride sharing company. lockdowns, people moving to the suburbs, people not traveling so airport market is down. stuart: got that. thank you. we have been following the pot stock, marijuana stocks always. they were up and today they are down. sorted out, ashley c3 high and low. ashley: cannabis saw its stock jump on monday and the company immediately decided to announce 125 million-dollar equity output-- offering. the solution brings the stock price at $6.60 down 20%. also talking about pot

stocks, this after disappointing sales for the third quarter and analysts say it may need to raise cash. canopy growth in the news as it is releasing a martha stuart branded cbd wellness gummy holiday. that's a mouthful. each gummy contains 10 milligrams of cbd. cells for 64.99. i can see that special gift box under the varney tree this year. stuart: wellness gummy what? ashley: wellness gummy holiday sample. so glad you pointed that out. stuart: ashley, thank you. let's go to carnival as increases. trying to take advantage of the boost they got from the vaccine is. how are they doing? ashley: another story along the same lines as carnival plans to

sell one and at billion dollars worth of common stock through at the market offering allowing the operator to take advantage of the surge we saw in share prices monday with news about potential vaccine. shares up 31% this week. that's despite a drop in the share offering was announced. down marginally today as you see this company lasted nearly $3 billion in the third quarter and says it expects to burn through an average of $530 million per month during the fourth quarter. that's a lot of cash burn. stuart: gigantic. boeing max jet could be back in the air next week. however, the jetliner still faces problems. do this quickly, please, lauren. lauren: the faa is reportedly considering penalties against boeing for quality control issues, safety lapse issues on the assembly line and pressure on management.

i think the biggest news for boeing came with the pfizer vaccine, really opening up the travel sector for them and so many others. even though they may have these penalties, you still have the max jet potentially getting back in here and a couple of days at this point and of the world opening back up. that's the good news for boeing. stuart: thank you. goldman sachs has come out with a remarkable prediction for next year in the performance of the markets. goldman sachs says the s&p 500 will hit 4300 by the end of next year. susan: 3022. stuart: 4300 and 2021. that's a major forecast. that means a gain of 20% by this time next year. that's what goldman sachs is saying. now, this, disgraced former fbi deputy director andrew mccabe passing the blame when

grilled on the pfizer warrant process. watch this. >> who is responsible for remaining mr. carter pages life, it's not rosenstein, it's not only, it's not delegates >> i think we are all responsible for the work stuart: kt mcfarland was directly affected by the russia probe. it actually turned her life upside down. she will join me later on this show today. alexandria ocasio-cortez asking her followers to help pick a dream cabinet. wait till you see some choices. let's just say they are somewhat of a nightmare scenario for republicans and probably for america we will be back. ♪ non-valvular afib can mean a lifetime of blood thinners.

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stuart: i thought this was a sensation. goldman sachs has boosted their s&p target level. at me explain. s&p is an index of 500 stocks and s&p says the index is going way up next year and the year after. susan: think of 3700 by the end of this year, 4% more before the end of-- stuart: six weeks to go. susan: even more bullish for 2021. 4600 by the end of 2022. that's more than 17% gains for next year, more than 20% on your money in two years and the reason they are so optimistic as they are hopeful of a vaccine approval by january, and divided congress next year meaning a great us economy. goldmans has a higher prediction for economic growth on the us than

everyone else predicting over 5.3% gdp next year. who did they recommend, technology plays, facebook, amazon, apple, microsoft and google. it they expect that to be big contributors spirit maybe it's time to get back in if you are going to make 22%. stuart: extraordinary prediction for your 4o1k. remarkable, up 20% by the end of the s-- next year. alibaba, let's look. they took in a record $56 billion so far for single stay. the stock turned around. they were down earlier. they have popped up a little. gerald storch is here. $56 billion is a huge number for single stay. clearly online selling, this is my opinion, continues to explode over there and here. >> absolutely. just got a number out of china last hour, over

$70 billion for single stay so continues to grow. i think they are done now. that's a big number and it blows away cyber monday, black friday put together. there's a lot of theme underneath it. the recovery of the chinese economy that is ahead of us on recovering. i think we can expect a similar in the us as we get into next year. also there's a lot going on in china. watch carefully as they feel emboldened after the election. you saw them take action in hong kong legislature they are cracking down like those that alibaba or they have the right of regulation, a lot going on in china right now but they are feeling like they are strong. stuart: do they have as good of an operation as america's amazon >> it's not as technologically intense,

which he may expect in terms of logistics because in the us labor is in poor. does pretty well. they clearly pay $15 an hour and way up beyond that. in their system they don't pay anything like that for labor in china some more labor-intensive but appropriate for their environment. they do a brilliant job at the end of the day and they are perfect for china. everyone is wondering if they will come to the us and compete with amazon which is a good question but so far they haven't shown any appetite. some companies in the us made some investments that they are not going head to head with amazon they are the two big e-commerce in the world right now. stuart: one fast one, did i see amazon in china actually sells real estate and cars on the website? >> alibaba does. as part of single stay there real estate, cars and the other thing to

watch is luxury goods. chinese are not traveling then they are buying more domestically so everyone expects a shift of luxury purchases. these are like european brands, gucci, buying in china and how much of that will be in the alibaba platform is what we are watching. stuart: $70 billion is the latest number. that's a big number. thank you. i have news on airbnb. that's a company which i would like to invest in, and whole new industry so to speak, but they are delaying their ipo. lauren, delaying tell when and why the delay? lauren: the filing was expected this week, but now it might come next week. it's been delayed to summary times, i mean, first they were supposed to hit the market in march, and then we have the pandemic in them like i said this week the filing was expected but airbnb was a skittish with the election and aftermath and they kind of did not

want to touch the market it is expected next year it's obviously been a tremendous year for ipos they look to raise $3 billion, valuation of $30 billion and a potential start to trade next month on the nasdaq. stuart: lauren, thank you. as you see on the market right bottom-- bottom right-hand corner dow jones is on the upside into is the nasdaq with a lot of green on the market today. former ice director says a joe biden presidency will undo all the progress that president trump made at the border he is fired up about this. he's on the show and speaking of joe biden, he took questions from the media, but maybe you can guess how that went. watch this sleeve and have tried to reach out to the president? >> have you spoken to your longtime friend in the senate, mr. mcconnell? >> during the lame-duck you coordinate with speaker pelosi? >> how do you expect to work with republicans with so many have

refused to acknowledge her victory? stuart: those were tough, with a so, it rolls on, softballs. brett baer joins us on that. "varney & co." rolls on. ♪ our retirement plan withoya gives us confidence. yeah, they help us with achievable steps along the way... ...so we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo. oh. i love her condo. nana throws the best parties. well planned, well invested, well protected. voya. be confident to and through retirement. hi susan! honey? yeah? i respect that. but that cough looks pretty bad... try this new robitussin honey severe.

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stuart: with this all about? amazon's popular ring doorbell being recalled to cash the, this is for you. ashley: ring of fire. amazon is recalling around 350,000 a second generation ring doorbell sold in the usa and another 87 sold in canada after receiving reports of them catching fire. at the $100 video doorbell whistled on rings website and on amazon between june, and october of this year and according to the recall the battery in the device can overheat when the wrong screws are used during installation posing a fire and burn hazard. so far ring has received 23 reports of doorbells catching fire and causing property damage as well as eight reports of minor burns.

stuart: i thought it may be something to do with privacy, but it's not. thank you. lauren, the prompter says what is this about whole foods offering turkey insurance for thanksgiving. go. ashley: well, we need this in my house because italians can cook, but we can't cook turkey. whole food and progressive teamed up to offer a thanksgiving turkey protection plan. protects you from a bad meal or a burnt meal and in many cases we do is save your receipt when you buy a turkey from whole foods between today and november 22. if you just happen to method thanksgiving dinner, take a picture of your damage. bring the receipt in the photo to the store, and at the store will give you a $35 gift card. stuart: sounds like a traffic marketing campaign. lauren: it is. stuart: got the name whole foods and progressive out there. i wonder how many people

will take up on that. here's what we have on this veterans day, still ahead david kelly, pete hegseth, micro, martha mccowan. the second hour of the varney is just moments away. ♪ . . businesses today are looking to tomorrow.

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♪. ♪ and i'm proud to be an american where at least i know i'm free, i won't forget the men who died who gave that right to me and i gladly stand up ♪ stuart: wednesday, november 11th, veterans day we honor those who serve with special guests including pete hegseth, mike rowe, charles payne, lieutenant colonel dan rooney, all on the show this veterans day. we'll see president trump leave the white house later this hour. he is going to arlington national cemetery to observe veterans day. he will lay a wreath there. when that happens you will see it on "varney & company." we just turned south on the

dow industrials. spectacular gain for the nasdaq up 1.3%. take a look at alibaba. big news here. today is singles' day. we got some new numbers, a record $69.6 billion sales so far. this is alibaba's singles' day. 69 billion, one day? i think they still have an hour or two to go. the stock today has been lower because beijing issued regulations reining in china's internet giant. so it is the company of the day with "single's day," stock of the day, on the downside nonetheless. vaccine makers. news on pfizer this morning. it is ceo cashed out 60% or $5.6 million of his stock in the company. that was on the same day they announced the results of the virus vaccine trial. okay. turning to politics, joe biden, slamming president trump over his refusal to

concede. >> i think it is an embarassment quite frankly. the fact they're not willing to acknowledge we won at this point is not of much consequence in our planning what we're able to do between now and january 20th. pete hegseth is with us. do you think it is an embarassment the president has not conceded and waiting to see all valid votes counted. >> i'm sorry stuart, is it january or only been a week since the election? of course it is not an embarassment. of course he should not concede and of course do everything necessary to insure only legal votes are counted based on all the anomalies and irregularities we have seen. the hyperbole is rich considering what they did to president-elect donald trump four years ago, carrying it through the inauguration, boycotting him, resisting him, spying on him, impeaching him, they never accepted the

legitimacy, effectively never conceded. as a result he had to fight through you it still had amazing four years of presidency. wait. be patient, use the patience everyone else is calling for, calling for literally right now and let the votes be counted. we'll know the electorate will side. we'll go from there. stuart: when all valid votes have been counted, if the vote total has not changed, he won the electoral college, joe biden, should the president then concede gracefully and attend the inauguration? >> provided every legal seat is counted, investigations occur. if that were to all happen and ultimately it, comes out that joe biden was the winner in the states needed to get to 270 i think the president would concede. and then i think ultimately there would be a peaceful transfer of power. but that doesn't happen right now. as for the inauguration, i think will probably depend how he is treated between now and then. he is, he has been willing to

take a different path. you would like to see him attend but you never know. who knows. stuart: it is veterans day. as you well know, young man. i believe you served in iraq and afghanistan, is that correct? >> yes, sir. and in guantanamo bay with some good new jersey boys with the new jersey national guard. stuart: i'm sorry, what was your rank? >> i was a, a second lieutenant in guantanamo bay. a first lieutenant in iraq and a captain in afghanistan. i'm actually still a major in the guard today. i will tell you, today i think about all the guys i served with. you realize veterans day is one explosion, one ied, in my case, one rpg away from exploding from memorial day. i'm only here because i'm lucky and because of the men and women next to me on that battlefield. as a result i revere veterans day and real 1% of our nation who put it on the line who knew they may never come home. do your part out there,

everybody. share a story. go to "fox nation." watch some of the great content. battle at hamburger hill. take them to a ceremony. for appreciation of what millions of americans in uniform done to make us free. stuart: you commanded men in battle. we really respect that, pete. >> thank you very much, stuart. stuart: thank you. >> absolutely stuart, thanks for being a great patriot. appreciate the time always. stuart: you got it, pete. see you soon. change the subject, let's get to the virus. cities across the u.s. are adding new restrictions. all right, ash, what new restrictions and where? >> depends where you live, certainly they are coming in in more force now as the number of cases rises. take a look if we can, some of those latest covid regulations. in california, san francisco, ramping up restrictions meaning indoor dining is suspended, capacity at gyms and theaters

being reduced. city's high schools wait to reopen. sacramento and san diego counties have also moved into the most restricted category. by the way in los angeles where cases are rising rapidly the city council there considering using the l.a. convention center as a giant homeless shelter. authorities say the pandemic is just made conditions on the streets even worse with one member of the council in l.a., calling it quote a panic situation. in maryland the number of new cases has jumped 36% in the last week. as offy p.m. today capacity for indoor dining at bars and restaurants going to be cut back to 50%. by the way the city of baltimore has seen its positivity rate surge above 5%. in minnesota the governor there says there has been a significant surge in covid cases. bars and restaurants now limited to 50% capacity both indoors and outdoors. starting friday, there will be a 10 person limit on indoor and

outdoor social gatherings in minnesota. now in new jersey, some of these numbers are quite startling. the highest daily total of cases in seven months was just reported at nearly 3900. new restrictions being imposed in various counties across new jersey. in essex county where the positivity rate has hit 19%. all businesses too close at 10:00 p.m. 10:00 p.m. on weekends and some counties in new jersey recorded a positivity rate closer to 35%. clearly the number of cases on the rise, stu. stuart: it's back. thank you very much indeed, ash. market guy david kelly is with us this morning. look, the second wave has arrived, it doesn't at this point appeared to hurt the market but will it hurt the economy down the road? >> i think it is going to slow

the economy over the next few months. we're looking for growth to decelerate from 33% annualized growth in the third quarter down toe about 3% growth if the fourth quarter. probably something similar in the first. we think the economy can probably keep growing. we don't expect manufacturing to shut down. sales shut down. we don't think construction will shut down. we think the economy will keep growing. the problem those industries require social mingling, the restaurants, travel, they will all stall out. not only because of government restrictions but the spread of the virus a lot of people don't feel safe going into a restaurant when the number of confirmed cases is double over the worst of this in the summer. stuart: look at the big picture though, david. i see a lot of people saying we're going much haier next year. i'm sure you seen the goldman sachs prediction of 20% gain for the s&p. we've had our own analysts on the show saying 33,000 on the dow next year. are you in that camp, big gains

still to come next year? >> there are plenty of positives. first of all this new vaccine, the fact that you can get a vaccine 90% effective as opposed to say 50% effective. that is a game-changer. it means over the course hopefully over the next year or so we can crush the virus to get to a point truly back to normal rather than battling a number of years instead after playing a game of "whack-a-mole." that is important. with divided government under the biden administration, less likely we'll see an increase in corporate taxation from 21% to 28% in 2022. that takes that risk off the table. those are positives. it is a grim medical reality over the next few months. i do expect the economy to accelerate fast in the second half of next year. that should be good for stock prices. it should be good for earnings. earnings will hit all-time high either late next year or 2022. stuart: everybody is bullish these days. i wake up in the morning, i scan the financial media, the financial press, just about

everybody is saying we're going higher next year. david, you seem to be amongst them. thanks for joining us. go ahead. do you have a caveat? >> i think the fundamentals are good. remember valuations are high. look at value stocks in the u.s. and international stocks which are cheaper than the megacap s&p 500 stocks. stuart: got it. david, thanks again. see you soon. thank you very much. got to get back to alibaba, as we reported $69.5 billion worth of sales so far in their singles' day. we know more about what they're selling. >> still an hour to go as well by the way. so yes, close to $70 billion. that is a lift of 30, to 40% last year. best-sellers are foreign brands as we pent-up demand in china since they can't travel outside. they're buying foreign brands. best brands adidas, estee lauder, l'oreal, lancome, nike.

electronics brands including dyson this is good for the world, the chinese 1.3 billion shoppers are doing this to spend you can imagine the recovery coming to u.s., apple the one of the brands. susan: i 12 5g phone is one the items. that is paramount what apple will do with their earnings. the 5g phone is built for the chinese market. half the phones are 5g and built nationwide where here it is spotty, the stock turned around. susan: we started down about 1 1/2 too. stuart: you did. quite a swing on that one with the new numbers. thanks, suzanne. coming up you may know one of my favorite tv shows is "gold rush." it is a reality show. i really like it. that man is on the show. fred lewis is running is coming

to the show. he took a round of shrapnel. inspiring story. that is not all. martha maccallum, bret baier, kt mcfarland, all of them on deck. second hour of "varney" just getting started on veterans day after this. ♪ who is usaa made for? it's made for this guy a veteran who honorably served and it's made for her she's serving now we made it for all branches and all ranks whether they served one tour or made a career of it. we also made usaa for military spouses and their kids usaa is easy to work with and can save you money on auto, home and renters insurance. become a member today. get an insurance quote at usaa.com/quote usaa. what you're made of we're made for

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forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. ♪. stuart: you may not know this but there is a whole slew of people who run fortune 500 companies, ceo's thereof, who

are veterans. give me the list, lauren. susan: all right. it's long but i will give you a few. the ceo ever johnson & johnson. he served for six years in the u.s. army. fred smith of fedex, four years in the marines. ken hicks of academy sports. he was in the army. scott winepolaris in the navy. the ceo of united health services was in the army. that is a few. as you know veterans in the c-suite provide perspective, accountability, organization, leadership and hiring a veteran at any level is a way we can all thank them and what they, how they helped and served in our country. hiring a veteran is the best thing you can do. stuart: absolutely. i would love to see if there are any veterans running major technology companies. most of the companies you mentioned there were not

high-tech superstars. would be interested to see if veterans are well-represented in silicon valley. we'll see about that. the market turned around. we have the dow off 30 points. are we ready to go to mike rowe. we got him? excellent. i want to introduce a guy with a fantastic broadcast voice. he does, he is better than mine, that's for sure. he has an american accent for start. his name is mike rowe. he is hosting a veterans day special for his facebook show called, returning the favor. he spoke with veteran dan waite operation reboot. we'll get to that. roll tape. >> don't ever give up on us. if we push you away, keep open that door a little bit, stick your foot in it. you may safe a veteran's life. stuart: apof aforementioned mike rowe. there is the man on the camera with the voice and great show

too. tell me about that man's story. mike. it is veterans day. >> hey, stuart. yeah, his name is dan waite. he is one of tens of thousands of men who served, came back and struggled to pick up where he left off. he lives up in maine and, you know, like a lot of these folks in uniform, he just, he had to fix himself before he could help anybody else and so his particular plan is called outdoor reboot or reboot outdoors. and that's what worked for him right? he reconnected with the land. recommitted himself to very basic things, hunting and fishing. found it made a huge impact on his ability to reassimilate. began bringing other men and women through the program who were struggling and saw a level of success that was just shocking. so part of what i do on this show is go around the country looking for people who have found a way to help others by first helping themselves.

and that is really what dan waite did in a nutshell. that is what he is continuing to do. stuart: you celebrate veterans today, all week i think, right? on your show, by the way, it is called, "return the favor ," correct on facebook? >> it is. it is called "returning the favor." i don't know how it happened we're in season four. we have over 400 million downloads. it is a thing. people really love this 20 minute little love letter to anonymous people in little towns you normally can't find on a map doing something to make their world a better place. we typically, we've done 100 episodes but we feature probably every, every 10th one on some sort of veteran organization that is making some kind of difference around this scourge of ptsd and veteran suicide. so you know, i heard your comments earlier. i think you're exactly right about employment. we knead vet-friendly, on-ramps

built into our country's biggest corporations. we need to get these men and women at the front of the line. we need to fast track. we don't have a reverse boot camp, right? we have boot camp. we have basic training. we'll do all sorts of stuff to prepare you to fight. but we don't do much to get people reassimilated and prepared to enter society again. that is where there is some of these little grassroots organizations out there like dan waite's trying to make a difference in their particular community. stuart: i would make the point it is high-quality labor. i remember during the wars that we've had recently we've had reporters embedded with the troops and frequently they would do an interview with a sergeant or whom sorry, and i was always impressed of the quality of the labor. that is the wrong word to use. but the quality of the people that our reports were talking to. it seems they got great skills,

perfect for the emerging into the general economy. go ahead. >> well it's not just the skill, it is not just the physical skill that so many possess that allow them to hit the ground running, it is the soft skills. i know you and i talked about this before around it's a little controversial, people that run big hr departments are typically discouraged or not allowed to talk about it but the sad truth is some of the things that keep so many people from pursuing the career that they love is an inability to do the most basic things. show up on time, tuck your shirt in, turn your cell phone off during an interview, right? stuff that you probably wouldn't think too much about but people just aren't trained to interview right. they don't have their soft skills in place in some cases. you don't see that with veterans. these guys show up on time.

they understand what a mission is. you don't have to start from, you know, zero. with a vet, by and large. stuart: yeah. >> so that's a great point that you make because you, it is easy to take it for granted until you're over there, until you're embedded. you can see a different way of thinking, a different way of acting, a different way of interacting. these folks make terrific employees. why there is stigma, why there is roadblock to it, i'm really not sure. stuart: mike rowe, you're doing great work and you really do have a fantastic voice. i wish you would give lessons how to get that deep base voice out there. it is so cool. i'll teach you a british accent if you like. >> sadly, sadly, stuart, it comes along with a face for radio. so you do what you can. stuart: makeup works wonders. mike rowe, you are a good man. we will see you again soon. good stuff. thanks, mike.

let's go to chicago, why not. grady trimble is there, digging into joe biden's new tax plan and i'm wondering if the tax plan could accelerate the move we've already seen out of high-taxed states like illinois. what do you say? reporter: stu, that is the concern from some financial planners. with he no that under a biden tax plan the highest of earners would see their income, payroll, and capital-gains taxes all go up. so let me show you a full screen. that will little us straight what that would do to high-taxed state like illinois, new york, new jersey. their top tax rates would climb to nearly 55% in the case of illinois. over 60% in other cases. we already know that people are getting out of big cities because they can. they have the flexibility of being able to work from home. so some of the financial planners we talked to here at fox business tell us they think that higher taxes could expedite the big city exodus. then on top of that.

you have companies like the nasdaq, other stock exchange eyeing a move to texas so they could have jobs once they move as well with those companies if they choose to relocate. so it is certainly a possibility that we're looking into. then add to that in cities like chicago they have a big budget deficit. they're looking at increasing local taxes as well. it es sort of the perfect recipe for people to get out if they don't want to pay higher taxes, stu. stuart: funny you should say that, grady trimble. it had occurred to me. looks cold in chicago actually. grady, thank you very much indeed. you are going to see we hope, president trump will leave the white house shortly. he is going to arlington national cemetery observing veterans day. he will lay a wreath there of course. when that happens you will see it. this is "varney & company," the second hour. ♪

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find a stock basedtech. on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. stuart: is the dow still on the south side? yes it is, it is down 40 points. is the nasdaq still way up? yes it is. up 1.4%. big tech is still doing well.

lyft, the stock is up 4.8%. it has recovered over half the business losses it took during the virus lockdown. the ceo of the company says they're planning to expand delivery options. that is what got the market's attention. that is why it is up 4.7%. that is lyft. look at nio. they're a less la rival in china. they appear to be a big winner. susan: jpmorgan says it could go as high as $46 in the near term. it already it is up 2,000% in the past 52 weeks. 2000%. jpmorgan says a long term winner in election cars, not just a car seller, meaning i transfer over a car to you, you pay me but as a consent play as well, entertainment, streaming maybe, battery replacement. that is the key is electric cars. still in. io is behind tesla when it comes

to the chinese investment market. tesla is delivering the more cars than the next two combined. stuart: i understand that tesla is the brand? china likes the brand. tesla has a terrific reputation in china? susan: right. very similar to what apple has. they like the foreign brands. meaning you know it is high quality, it is upscale, it is luxury and indicative of growing incomes in the country. people like the tesla brands. they like the apple electric, i would say tech brands of america. stuart: they sure do. nye yo at 41. susan: jpm. stuart: going to 46. turning to hong kong. this is important. pay attention because this is important stuff. in hong kong all opposition lawmakers quit. that after china disqualified four pro-democracy members.

china has stamped on democracy in hong kong. here is christian whiton, former state department official who joins us now. carry this forward, christian. what does incoming president joe biden do about china? >> well that's everyone's question. all history indicates he will probably go soft. during the administration which he was vice president for eight years there really was not much action on human rights, democracy, governance issues, really anything much about pushing back on china. joe biden has, he has been very critical of donald trump's tariffs on china, especially the section 301 tariffs put 25% levies on half of what we import from china. you might see continued freedom of navigation operations, military presence things, intended to deter china but biden is likely to really want to have the trappings of diplomacy, the appearance of good, solid diplomacy with xi xinping. that will come at a cost. xi will not give that away for

free. stuart: does china have anything on joe biden because of his son hunter and his activities in china financially? >> i think the answer has to be probably. if there is nothing bad there why the denials, why the false statements from biden that there is, no one thinks there is anything of concern here? well a lot of people do, especially a lot of people in hong kong and taiwan who are concerned and the united states concerned about the chinese communist party buying off american officials. hunter biden went on to the main land including on trips with vice president biden. eventually walked out of china with fairly little effort with a great deal of money, you know, then the question is, what did the chinese get in return, what do they expect in return? those questions have not been answered. that is something that a republican senate certainly will investigate i think. stuart: have you seen anything from china about their opinion, their view of president trump essentially giving way to

president biden? >> nothing official yet although i think you can argue today's action is not a good sign. xi xinping has not joined the line of western leaders calling former vice president biden to congratulate him on his victory. if they thought someone who cared a lot about democracy, human rights, freedom of chinese people, security in the western pacific, et cetera, i don't think they would take the step. this originated from beijing. beijing said hong kong's new executive can throw people out of legislature on a whim if they are not being patriotic. that is pretty big step in the slow murder of democracy taking place in hong kong. stuart: sum it up this way for me, will you? i want to tell the viewers the honing kong situation is of great relevance to them even though it is on the other side of the earth. why is the hong kong situation, china's brutal treatment of hong kong why is that of relevance to our american viewers? >> because like taiwan hong kong

puts the lie to the chinese communist party's entire reason for existence which you cannot have democracy. it doesn't work for chinese people. it only leads to chaos. hong kong proves that the rule of law not only works it works really well for chinese people just as it does for other ethnicities around the world. taiwan proves that too. it was a seed of a germ of democracy if you will many would hope spread to the main land. they're doing the opposite. they're killing it off because it is a very inconvenient element of proof that you just don't need tyranny in china. stuart: christian white tone, thanks for joining us. we'll see you again soon. >> thank you, stuart. stuart: i want to see facebook and google on your screens. "the wall street journal" reports that they are carrying on their political advertising ban for several weeks. susan: they started on election night. so no side can claim victory too early. they were extending this. because looks like we have undecided election according to

some, right? at this point we still have a contested election. this will last according to "the wall street journal" possibly as long as november which is this month, later on this month or next month in december. still though, it doesn't really hit the bottom line for these tech giants because political ads are small, part of the revenue as you heard from mark zuckerberg over and over again. as you saw in the recent quarter from july to september. stuart: it's a political point as opposed to market-oriented point. susan: right. stuart: facebook is up 2%. nice gain. we got, with he received mortgage application numbers earlier. homebuyer demand up 16% from last year. that increase in the, there is, that is narrowing. there is an inadequate supply of housing. lauren, come in to this. what do you have on multigenerational home buying? lauren: it is really popular. the national association of realtors just put out a survey

of trends what they have noticed in the past eight months in the housing market. they find that we want space around we want family that can live with us. so multigeneration homes are 15% of all homes sold since march. another trend, prices skyrocketing up 25% since march at $339,000. before march, or i should say did it based on before april, they had it at 270,000. because of that price hike, we're seeing some people like the first-time home buyer get priced out and that buyer, lowest level since 1987. stuart: i mean that increase in home prices is absolutely stunning. lauren: right. stuart: just huge. lauren: 25% in eight months. stuart: amazing, absolutely amazing. what a turnaround. lauren, thank you very much. another look at the white house please. the president will be leaving shortly. he is heading to arlington flags

cemetery observing veterans day. when he get there is to lay the wreath you will see it. martha maccallum is on the show. she has been speaking to two world war ii veterans coming up right after this. ♪ before nexium 24hr,

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over a million older americans have used a reverse mortgage loan to finance their retirements. it meant so much to nellie, maybe it could mean as much to you... call now and get your free infokit ♪. stuart: as promised we're going to introduce you, bring in martha maccallum from fox news martha has been talking to world war ii veterans. i want to share a clip from one of those interviews. roll tape, please. >> veterans day is something that we can participate in to

show our appreciation for those who have served and kept us a free people and a free nation. we must take part in veterans day and recognize those who placed their lives on the line. stuart: well-done, martha. great interview. a very special guy and a world war ii veteran. this is a big part of your show i think? >> it is. woody williams was in iwo jima veteran. is an iwo jima veteran. he is the last living medal of honor winner from iwo jima. he is incredibly remarkable person who spent the balance of his life after the war, building war memorials in cities across the america because he wanted families and communities in all of those places to stop there, think, reflect on the sacrifices that have been made by so many for the freedom we enjoy today. stuart, i feel like on this veterans day in the midst of all

this strife going on in the country right now, and the election, it is really a great thing for all of us to take a moment and pause and think about these men who fought in world war ii and the other wars to keep our freedom. i'm looking forward to seeing the president today as he goes to place that wreath and i think that this will be a significant moment for the country to watch and to take focus off of us, here and now and put it back on them. stuart: there is no politics in the brave in battle surviving and telling the story. you have a book, "unknown valor." that chronicles veterans who fought in world war ii especially pearl harbor around iwo jima. you have a personal connection to that? >> i do. my mother's first cousin harry gray, at 18 years old was killed in the battle of iwo jima.

i spoke to his good friend george coburn and talked about the letters he and harry wrote. it is in the book. look at pearl harbor around iwo jima and specific battles that part of the war. so interesting to hear about your conversation between hong kong and china. there are some parallels to what we saw. some things are very different obviously. there are parallels to what we saw the beginning of the war with japan in many ways. we live in a very different time but there are some interesting parallels. but you know, it is just something that i feel we've lost touch with? it's a generation that wasn't about them and it was about something bigger than themselves, freedom in the united states of america and maintaining it. i do think that it has made me think quite a bit about the election system in this country and making sure that it is free and fair and astonishing number of republicans feel that it was not a free and fair election and those are concerns that need to be addressed.

we can't live in a country where people don't feel secure about their vote. stuart: well-said. veterans day, time to come together over these great people. martha maccallum. thanks for being with us. >> thank you, stuart. good to see you. stuart: let's go to, where are we going here? coming up on the show lieutenant colonel dan rooney. fly into the wind. it is on "fox nation." that man is a veteran and he is coming on the show. he has interviewed greg norman and others, herschel walker right there. quite a few. he is on the show. at first, one of the stars of gold rush, fred lewis is with us. he ask a veteran. you will hear his inspiring story after this. ♪ for over 30 years,

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>> been all over the world on some crazy missions. when i try to compare this, honestly it is one of the most challenging things i have ever

done. >> i don't think it has ever been done before, a team of all combat vets. this is a place we pull gold out of the ground, give ourselves a living. we'll secure our own future. stuart: that was fred lewis. he is a veteran, one of the stars of gold rush. he joins us now. you have got a remarkable story, fred lewis. you took a round of shrapnel to the head i think. then you got your buddies around, you started off gold mining. take us through it, fred. that is quite a story. >> that is pretty close. 2009 i took a round to the helmet, just grazed me. it was third or fourth concussion i had in that time period. and i ended up getting medically discharged for some problems. i went through a pretty long struggle. when i found this purpose in gold mine it just kind of resonated with me a lot of veterans could probably benefit from this. got discovery on board.

now i'm mining with a bunch much combat vet buddies. it is pretty fantastic. stuart: what does combat teach you about gold mining? what do you learn about gold mining from combat? is there a connection? >> welcome bat teaches you absolutely nothing about gold mining however you do learn how to work in that tight-knit group and to rely on your teammates. that was a thing that really made me think it would work, regardless of experience with mining. regardless of experience with gold. these guys that i have chosen have worked in teams so much that when i put them in that environment and it is just an environment they're thriving in. it is freakin' amazing experience. stuart: i've been watching. are you the boss of the team? are you commander of the combat gold mining team? >> well i am the boss but it is really hard to lead a group of alpha males, especially one of them has 26 years in the army, but, title on my shirt is boss,

yes. stuart: okay. how much gold have you found? >> oh, can't tell you that but i can tell you that gold mining we're doing right here in eastern oregon probably one of the most challenging spots i could have found. covid really kind of threw me into a loophole. i was supposed to be up in the yukon with parker, one of the other miners, since the border was closed all the mess happening with covid. i took advantage of the opportunity, looking how gold mining is an essential work place and just kind of decided to reinvent myself and bring all of my friends with me. it is kind of a pun intended, it kind of panned out pretty well. stuart: very good. i got that. i caught it. i caught it. now then i always wanted to ask do you make more money from the gold that you mine or from the tv appearances that you make? >> well i think the point is to make more money mining gold but you know, i say like most

first-year businesses probably lose quite a bit of money trying to get started up. let's say gold mine something really no exception. we pretty much paying for college experience and an education to learn how to be miners eventually. the strug billion are real. everything, everything on this is real and we're having a blast with the challenge. stuart: good. >> i mean it is -- stuart: look, i watch. so i keep your ratings strong. so i'm good for your income from television. that's it. you better watch my show. i like the ratings point. >> i watch your show of course. stuart: oh, you do? >> heck, yeah. stuart: now he tells me. the man could have had extra ten minutes had i known that. fred lewis, we think you're all right. >> you're on friday nights. stuart: got it. susan: i knew you would ask him how much he made. stuart: you have to. this is "varney & company." come on. now this contactless card usage, we are told is absolutely

skyrocketing since the pandemic. lauren, how big of a skyrocketing of contactless payment? lauren: a lot. 150%. so you know what that is, right? that is where you tap your card or phone to pay for something rather than like actually picking up the pen and signing for it? visa says that it is up 150% since march and that is march of 2019. so we're going a little further back here. most retailers accept such payment but, the number of times i go into a store and i'm asked to sign with a pen and i cringe it, it is so many times. so we all need to adopt this more. tap and pay and go. by the way, do you know how you can tell, stuart, if you have a card that is rfid technology, so tap and pay? stuart: tell me. lauren: has a speaker, four lines that look like a speaker on it. that means you can tap it and go. stuart: tap and go.

>> do you have that? tap and go? contactless. stuart: i haven't done it yet but i'm going to get into it at some point, maybe. all right, lauren. i got to go. show me please arlington national cemetery. there it is. that is the approach to it. moments from now the president and the first lady will observe veterans day there. when that happens we will take you there on this veterans day. plus we have former deputy national security advisor kt mcfarland, former i.c.e. chief, tom homan. special report anchor bret baier. folds of honor founder, lieutenant colonel dan rooney. this is the third hour. it will be the third hour of "varney & company" right after this.

♪ ♪ all gave some, some gave all. ♪ some stood true for the red, white and blue, some had to fall ♪ stuart: it is 11:00 in the morning east coast time on veterans day. small point here, this was 11:00 in the morning on the 11th day of the 11th month during the

first world war that ended, that was armistice day. and since then, veterans day in america has been known for november the 11th, and that's the day that it is today. momentarily, the president will arrive at arlington. he'll lay a wreath with first lady melania, and he will participate in the observance of veterans day, the ceremony right there at arlington. you will see it. coming up, we have kt mcfarland, tom homan, anchor bret baier and lieutenant colonel dan rooney all on the show in our third hour which is starting now. first, though, take a look at the markets. we're all green. a fractional gain for the dow industrials, we're up, what, just 2 points, but 29,423. the record closing high is 29,551, so we're awfully close to that closing high. let's see how we close this afternoon. charles payne joins us now, he's the host of "making money" on this network.

charles, you're a veteran. i didn't realize that, so you tell me which service did you serve in and where? >> the u.s. air force from 1980-1985. of course, basic training at lack land, i was a security policeman, strategic air command which overlooked our nuclear missile program, so i was in minot, north dakota, and i was in guam. stuart: you were guarding the nukes? [laughter] >> that's right. stuart: that was good. a serious question, how does a military under joe biden compare to the military under president trump? what do you think's the comparison? >> yeah, i'm very concerned for a few reasons. number one, biden's overall eagerness to be part of the

world again, you know, yesterday saying he's telling these world leaders that america's back, and it sounds like we're going to show up at the doorstep of all of these countries with our checkbook in hand and saying just give us a number to like us again. and, by the way, see behind me all those young men and women? they're at your disposal as well. so i'm very worried about that. remember what robert gates, the former defense secretary under president obama and vice president biden said, that he was a good man but that he was wrong on nearly every major foreign policy problem, on national security over four decades. not just as the vice president, but over four decades. i'm also concerned about the readiness of the military. president trump put that high on his agenda. it's one of the reasons our debt levels went up so much, but i consider that an investment, not spending. if you think about pay, stuart, the average manual pay for military in 2009 went up 3.9%, 2010, 3.4%.

2011, 1.4%. you can see where i'm going here. by 2018 it was only -- 2016, rather, the last year of president obama and biden, it was up only 1.3%. president trump gets elected 2017, it goes up 2.1%. 2018, 2.4%. 2019, 2.6%. and this year, 3.1%. these are real, livable wages that the military deserves and that they lost bigtime on the last time biden had a say. so i e hope they don't do that again this time. stuart: charles, we honor your service, and i'm going to change the subject -- >> thank you. stuart: -- talk about money for a moment. we've got all these bullish forecasts from goldman, from other people, big rally coming next year, they say. so, charles payne, what are you buying now? >> we are overweight materials, industrials and consumer discretionary for my subscribers, stuart. and i've been saying this for a

while now because of where we are, how much money is in the system. our debt, our household debt to disposable income is the lowest it's ever been. the savings of $2.7 trillion. yeah, it's -- and you throw a vaccine in there, the money supply exploded. there's trillions of dollars sloshing around behind these walls, either households are saving and sitting on it or corporations because of low interest rates. next year i'm predicting $1 trillion in stock buybacks. so you've got a lot of forces up this that could drive this market a lot higher. you push off the ability for would-be president biden to take away president trump's tax cuts, and you've got a pretty good scenario. i understand the contrarian would like to see more bears, i was happy to see bill ackman saying he's betting against the market. but the bottom line is overall, if you look at the data, it's hard not to think we can't have a very strong 2021. stuart: i love to see it.

charles payne, thanks for joining us. >> yeah. thanks a lot, stuart. stuart: the show is called "making money," 2 p.m. eastern this program -- sorry, this network, today. back to veterans day. over the past four years, president trump has put an emphasis on health care, employment and education for our veterans. hillary vaughn is in wilmington, delaware. hillary, what is biden's plan for veterans? >> reporter: stuart, well, president-elect joe biden's plan really focuses on reskilling veterans once they are done with deployment and making their skills suitable for the jobs of today. he's focusing on corporate mentorships and also, essentially, reaching out to ceos of large corporations to let them know what the perks are are for hiring veterans. but when you look at how veterans fared compared to when biden was in the administration four years ago serving as vice president under president obama to today, the unemployment rate

for veterans under trump in 2019 was 3.1%. that's the lowest in 19 years. veteran unemployment, though, under bide when he was vp was higher at 4.3%. today president trump will be visiting arlington national cemetery today to honor veterans. in a statement he's highlighting some of the proudest achievements for those men serving, including giving this many the choice to get treated at a doctor near them as opposed to being forced to go to the v.a. every time. the president also alluding to the cleanup he had to do under the v.a. scandal where wait times were covered up. saying this today: in just a few short years, my administration completely overhauled the department of veterans affairs, removing employees who were not giving our veterans the care and attention they deserve and making the agency more accountable to the heros it serves. 9 veterans day, though, today is a very personal one for president-elect biden. his son beau was deployed to iraq with the national guard,

and biden has repeatedly called out trump for reports that he called the men and women who lost their lives while serving as losers and suckers, and he alluded to that in a statement today saying this, quote: i will be a commander in chief who represents your sacrifice, understands your service and who will never betray the values you fought so bravely to defend. i will never treat you or your families with anything less than the honor you deserve. stuart? stuart: hillary vaughn, thank you very much, indeed. staying with the democrats, speaker pelosi refuses to denounce socialism. okay? lisa boothe is with us. can you just sort out for us what's going on with house democrats? are they at war with each other? >> well, the basis, just the mere fact that if you look at the 2020 election, you looked at their primary bill, the fact that it was so competitive and there was so many people in the race would underscore the division in the party.

and i think there's going to be further division in trying to figure out what direction the democratic party goes in moving forward. stuart: what, why does she refuse to reannounce socialism? i know that some of the moderates in house democrats are are saying exactly that, don't say socialism, don't use that word. but she won't refute it. now, why not? >> well, i think she understands that there was a significant portion of the base that subscribed to a lot of that ideology and a lot of those policies whether it's things like medicare for all, defunding the police. so it's one of those concerns of not alienating a portion of your base which i think was part of democrats' messaging problem heading into the 2020 election which, obviously, you know, there's still a lot of concerns about right now. and one of those concerns, i think, is you look at the 2020 election, never before in history have we done this volume of mail-in ballots. you look at states like

pennsylvania, they had nine times the mail hundred ballots than they -- mail-in ballots that they had in 2016. so i think it's incumbent upon the media, upon us all to insure that was done correctly. there are a lot of concerns with the pennsylvania election, the way it was conducted was constitutional in extending the deadline for ballots to come in, also questions about no signature verification for mail-in ballots as well. so i think there are a lot of questions that we should all be examining particularly as we look forward to 2021 and insuring that those questions are answered by the time a new president is sworn in or by the time of the inauguration. stuart: if there's a full investigation of all irregularities of any kind, a full investigation, it's all out there and it is found that the irregularities do not change the vote in any state, do not change the electoral college vote at all, do you think the president should then concede e?

>> well, if everything goes through litigation. but even -- stuart, just from a common sense standpoint you look at a state like washington, it took them five years to move into all mail-in ballots, the universal mail-in ballots. now, a lot of states didn't do that to that scale, however, they did increase, as i previously mentioned, in pennsylvania nine times a what they did in 2016. so it just defies logic, it defies common sense that all of that was done with all that was done correctly even without the implication of any sort of fraud or anything like that. just the fact the sheer volume they were unprepared for, i believe states were unprepared for. as we saw even if you look at states like new york with the primary election, the fact that you had double-digit invalidation rates because people were doing it for the first time, state boards that were unprepared for it, it defees common sense and logic that everything was done correctly. and once we've entered this territory of mail-in ballots, we have to insure it's done

correctly moving forward or you're going to continue to haveling oring questions with every election. so i think just from a common sense standpoint without, you know, even raising questions about malfeasance or anything like that, we should all all be wanting to get to the bottom and making sure that everything is done correctly and to the letter of the law. stuart: yes, exactly. >> and i worry that i think there's just a lack of intellectual curiosity by so many people right now in wanting to get those answers, and that is frustrating to me and, i think, frustrating to the 71 million people who supported the president. stuart: i agree entirely. if this was the other way around, "the new york times," washington post, cbs, etc., etc., they'd all be launching mammoth investigations of any possible wrong doing, but it's not that way around, so there's no interest on the part of the media, seems to me. go ahead. >> stuart, i mean, we had people in the media saying that somehow russia swayed the election with a nominal amount of money they spent in facebook ads to uncritically push the narrative

that russia stole 2016 and president trump was then illegitimate as a result who then aren't raising questions about this science experiment of an election we had where we had mail-in ballots that states just simply weren't prepared for. and that's even without raising questions about the fact that there's hundreds of pages of individuals with sworn affidavits raising questions about things that they saw that potentially were wrong. and i think that it does more harm to not question than not to want to answer some of these questions and get to the bottom of it than saying there's nothing to see here, everyone move along. and i don't know. i don't know the answer to that. but i think it is worthwhile to look into it. stuart: look, you defend the integrity of elections by investigating to the nth degree and make sure that at the end of the day it is absolutely fair and aboveboard. that's what both sides should be looking for and pressing for. i think we agree. lisa, thank you very much for joining us. >> absolutely. stuart: i'm going to segway away now. right-hand side of the screen, you saw president-elect joe

biden at -- he's observing veterans day in philadelphia. he's with the future first lady there, his wife. he is reviewing the wreaths as we speak. now momentarily, we're going to switch you to arlington national cemetery where president trump's limousine motorcade has just a arrived. shortly he'll be getting out and observing the celebrations of the veterans day at arlington. he will lay a wreath, and you will see what is going on. so we'll keep that on the left-hand side of the screen and move on slightly. we're joined now by kt mcfarland, who joins us now. look, i don't want to go too far off course here, kt, but you saw the hearings yesterday. you saw what went on in congress. you saw -- your life was wrecked by some of what was discussed yesterday. did you feel vindicated when you

heard the testimony that was delivered in congress yesterday? >> yes and no. i mean, in one sense, yes, because it's now the truth is coming out. but in the other sense, probably not because while the congressional testimony was happening yesterday, at the same time you had the supposed biden administration talking about all the things they were doing to deal with other countries and how they were going to reset american foreign policy. wait a minute, wasn't that exactly the same that they went after the trump administration for? stuart: right. >> and so, to me, it's that double standard. stuart: yep. i do want your comments on hong kong. i think this is a major story. the chinese just stamped on democracy in hong kong and overnight opposition, the opposition party literally walked out. democracy stamped on. i've been trying all morning to make this relative to our american audience. i think it's of great importance to our american audience. what do you think?

>> oh, i think it's hugely important. i mean, it's important in the sense of democracy, what does democracy mean. it's important in the sense of china made one promise to the people of hong kong, and now they've reneged on the promise. and it also a makes a huge amount of difference to us economically. you know, china is trying to control the south china sea and all trade that happens in that entire region, hong kong, taiwan, japan, south korea. and if china does control that most important maritime trade route in the world, what does that do for us? that pushes us out of that line of work, and it means that china sets the rules. china decides how we trade with them, china decides the terms of our own foreign policy and whether we can stand up to china. and so for me, the north korea -- i'm sorry, hong kong is like the canary in the coal mine. what's happening there could happen to taiwan, could happen to japan, could happen to korea, could happen really to the united states.

so what does that mean for dollars and cents? it means, you know, is america going to continue to be a dominant country in the world, or china going to run the table? are they going to run things in which our standard of living goes down very quickly and very far? stuart: what do you think will be the approach to china by the biden administration? >> they talk a good guam. certainly -- good game. vernally, vice president biden and a lot of his advisers have said we're going to get tough on china with the help of our allies. well, president trump was pretty tough on china too. so i hope to take biden at his word. the problem, stuart, is that when he was vice president, he didn't do any of the things that he say he's now going to do. they were basically kowtowing to china every step of the game. the other thing that bothers me is when biden says we're not going to use trade, tariffs as weapons. really? what is your, what's your leverage then? was negotiating without leverage, that's not

negotiating, that's begging. and the chinese know it. stuart: i want to get back to the original subject, your life was wrecked by actions taken by others. >> yeah. stuart: are you back on track, kt? >> you know, stuart, when the good lord closes a door, he opens a window. and i think my life is in a very different direction than it might have otherwise taken. but one thing that has happened to myself and i think a lot of other people during this period of lockdown and pandemic is i've been able to see the next generation, particularly my family, and to see a daughter who is now a navy veteran who has now won an amazing election in sarasota, florida, for the florida state house of representatives. and i've gotten to know that next generation, and it's pretty impressive, stuart. you know, they're innovators, they're technology people, they're, a lot of them, the veterans who are stepping up to lead. i think the country is in put good hands going forward. we may all be kind of nuts now,

but i'm very optimistic about the future. maybe not for my career, but for the next generation i'm very optimistic about the nation. stuart: kt, i didn't know. you have a daughter who is a navy veteran, just elected to the statehouse in florida. i didn't know that. >> yeah. stuart: is she a republican? >> yes. yes, she is. she's a naval academy graduate -- [laughter] a lieutenant commander in the navy reserves and, stuart, i can't believe it comes as a surprise to you. i mean, i'm wearing the navy patience right? stuart: yeah. but i didn't know your daughter was a navy veteran and that she'd been elected to office. i did not know that. i thought i knew everything about kt mcfarland's life, but not that. [laughter] would you ever go back into politics? >> let's see, you know? let's just see where the world goes. i am committed, though, to whatever happens next that the policies that president trump enacted, economic policies, domestic policies, certainly foreign policies, those have to

prevail. that is the future of the country, and i think that the last election what did americans say? we may not know who the president is yet, but they made a very strong statement to the country on who they elected to the statehouses, to the house of representatives, to the senate. turns out americans aren't really nuts. they actually like trump's policies. [laughter] stuart: oh, kt, that was a fine statement, indeed. [laughter] congratulations to you and your daughter, to your whole family. thank you very much for being on the show again today, kt. we'll not forget. >> thank you, stu. stuart: sure thing. all right. we've got to take a commercial break. you know how it happens, you have to make some money sometime or another, so we're going to need to run some commercials, which we will do. we're looking at a market that's showing a lot of green, we like that. back with more on this veterans day. robinhood believes now is the time to do money.

without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. stuart: it is veterans day, and the president has just arrived, he's gotten out of his limousine, he's at arlington. and we will watch the proceedings. [background sounds]

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♪ >> order! [background sounds] [background sounds]

[background sounds] [background sounds] stuart: it's pouring rain on this wednesday, november 11th, 2020. the president and the vice president lawing a wreath, arlington national ceremony. veterans day 2020.

previously, president-elect biden had laid a wreath at the korean war memorial in philadelphia. all on this veterans day where we honor those who serve our country. [background sounds] stuart: now we'll continue. i'm going to bring everybody up to speed with what's going on. you just saw arlington. prior to that you saw president-elect biden in philadelphia. the market is still in the green, so to speak. the dow industrials up at 29,500. quick point here, the all-time closing high for the dow is 29,551.

so we are 50-odd points away from the all-time closing high. quite clearly, we have a stock the market rally. look at that. the dow is up 74, but the nasdaq, strong gain there, up 1.5%. technology has made something of a comeback today. and the s&p 500 at 3,500. bear in mind, folks, we've had predictions this morning from goldman sachs no less that the s&p, now at 3,500, bottom right-hand corner of your screen there, 3,500 now, goldman news that i by this time next year it will be at 4,300. that would be a gain of -- i'm not doing the math here, but roughly 20% from where it is now. that would be a spectacular gain. >> 17.5 -- stuart: is that -- [laughter] >> 3,600 by 2022 would be over 20% in two years' time, so that's good for your retirement fund. stuart: that is a forecast of a

massive rally. >> yeah. stuart: and earlier this morning we had someone saw 33,000 on the dow industrials by the end of next summer. if you look across the spectrum of financial news, you will see a lot of very, very bullish forecasts because you've got a vaccine, you have got a divided government in all probability, you've got profitability going straight up, and what am i missing? the federal reserve. >> yes. and that's why goldman sachs, the predictions that they're making, the forecast of the s&p 500 is contingent on all three factors and why they're predicting better than expected gdp next year of 5.3 percent. that's higher than what most people are anticipating. so the economy is recovering and accelerating into the next year. stuart: it's just a very strong market -- >> yep. stuart: -- into next year according to all the analysts. >> and also to big tech as well. stuart: that's right. they are saying buy big tech. again, people are doing that this morning. i noticed that microsoft is up

$4 or 5. what percentage is that? >> that's 2 or 3%. amazon, apple are up 2 and 3%. when they represent so much of the s&p 500, 25%, as they go, they take the rest of the broader market along with them. stuart: that's exactly what's happening. let's change the subject. with me now, tom homan, the man who, well, basically was in charge of the border for quite a long time. that's right, isn't it, tom? you were in charge of that for a while, right? >> well, i was the director of i.c.e., so i ran interior immigration enforcement. but we had a lot to do with the border. border is directly connected to what immigration does, yes. stuart: you did a great job. you helped bring down the level of illegal immigration into the united states, and you we're going to transition to a different administration. what do you think happens at the border and internally here with a president biden? >> well, if we, in fact,

transition and biden becomes president, all the gains the trump administration has won are gone. look, president trump has an unprecedented success on the border, stuart. there's a 60-82% decline on illegal immigration from the same time last year depend on which months you look at. that's unprecedented. he's done more to secure the border than any of them, and that's just a fact. and he did it with zero help from congress. congress fought him every step of the way. what happens under a biden presidency if he becomes president, based on what he's already said, he's going to put a moratororium on deportations, he's going to end the remain in mexico program, he's going to limit i.c.e. detentions, he's going to free health care. and he's going to stop enforcement operations. is so he sent a message to the rest of the world, you can enter the country illegally, you won't be detained, deimportanted, and you can work illegally because i.c.e. haven't involved in -- isn't involved in raids.

why would you not want to come to the greatest country on earth if there's no consequence, no returns? stuart: fair point. why don't you address this defund the police movement. we have the minneapolis police department facing an officer shortage after these massive protests about defunding the police. they've got a shortage of officers. they're asking for more resources to be sent in to them because they want to defund the police. it seems to me to make no sense whatsoever. what do you say? >> it makes absolutely no sense. i think that's what hurt the democrat party in the congressional election. look, every dollar you take away from law enforcement means less enforcement. when i was i.c.e. director, i had an $8 billion budget, and that sounds like a lot of money, but you've got to decide what can i do and can't i do with this money. every dollar you take away from law enforcement means less officers on the street, longer response time, less money for undercover investigations. less money for police equals

more crime in the neighborhoods. it's that simple. and i think the american people are now, are getting that message is wrong, and they're going to pull away from it. stuart: have you retired completely? >> i'll never retire. i love the men and women of the border patrol, i love the men and women of i.c.e. and you're right, these men and women have done a great job, we have a great president in president trump who's had unprecedented success. he has done more to secure our border and protect americans than any president i've worked for starting with ronald reagan. i mean that. i've done this for 35 years. he's had great success, and we finally have a pretty much secure border. if congress would have worked with this president, we'd have the first secure border in my lifetime. so i will never retire, i'll fight for the men and women of i.c.e. and border patrol until the day i die. stuart: you come on back to this program where you'll find a home, and you tell us what's happening at the border under the next administration. we want to hear from you. tom, thanks for joining us. >> absolutely. stuart: thank you. >> hold them accountable,

absolutely. stuart: you got it. see you later, thank you. on the same theme, folds of honor founder and fighter pilot dan rooney. he's firing up his plane, flying around the country to get some real stories behind some of the most influential people of our time. he's going to join us next on this veterans day. ♪ ♪ go big or go home. ♪ go, go, go big or go home. ♪ ♪ ♪

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>> regret. regreat. probably the worst thing you can carry with you. >> yes, it is, but i think we all do. i regretted not following through on the gold tour. stuart: that was a clip from fox nation's new show. it's called "fly into the wind." lieutenant colonel dan rooney is

the host of that show. dan, first of all, look, i want to talk about folds of honor. it's veterans day. but i want to hear about that show, because greg norman is a friend of this program and frequently appears. what's with "fly into the wind"? >> well, i think it ties together perfectly, right? as fighter pilots, we a always take off into the wind because we need resistance to ascend. and, you know, our lives are no different. and whether it's one of the 28,000 families that folds of honor has helped get an education, who's had someone killed or disabled, certainly flying into the wind, before it's, you know, a greg norman in the world. but this common denominator of life is that we're all going to struggle. and what i've found, stuart, in this show that is so amazing interviewing these incredibly accomplished individuals, is that when you need someone and if they've achieved at this high level, i promise they have a moment in their life that's been equally challenging. and this common thread of the

guests on "fly into the wind" that i recognize, they are better at handling life probably than anybody i've ever met when things don't go their way. they understand those moments define them. it's going to help a ton of people in the spirit of just like what we do in folds of honor, real-life, authentic device from he rowic people who have achieved at the highest level and gotten through incredible struggle in their lives. stuart: dan, nobody's life goes like this. everybody's life goes like this. everybody is challenged in some way at some point. and i'm fascinating that you help the people, military people, military families who have done this. they've gone -- they've hit the downside, and that's where you help them. what do you do? you provide scholarships, that kind of thing? >> yeah, so literally started above my garage 13 years ago,

and our mission is to honor the sacrifice by educating the legacy of military members and their spouses and their children. and we've awarded 28,000 scholarships, about $130 million. i always say veterans day, i've been flying fighters now for 20 years. the best way to thank a veteran for their service is to take care of their family, because that is our greatest concern. and, you know, the hardest thing i've ever done so to kiss my wife and five daughters good-bye on my three tours of duty in iraq. and we understand that freedom is not free. stuart five daughters. >> yeah. [laughter] look at my hour. i've got five daughters. and i wrote a book about how to achieve in life, " fly into the wind," and trust me, i've earned every bit of it. stuart: you're a great man, dan rooney. what a pleasure to have you on this show on this particular day. dan rooney, we'll see you on fox nation. thank you, dan, appreciate it. let me change the subject.

look at this, reporters lobbing absolute softballs at joe biden's first press conference since the election. you've got to watch this, just briefly. >> have you tried to reach out at all to the president? >> have you spoken to your longtime friend in the senate, mr. mcconnell? >> during the lame duck, will you be coordinating with speaker pelosi? stuart: is that a preview of what's to come in the next four years? bret baier weighs in on that next. ♪ won't you please, please help me ♪

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stuart: the president-elect did answer questions from the press on monday, but it sounded rather different from a trump press conference. you get the point? watch this. >> have you tried to reach out at all to the president, and if he is watching right now, what would you say to him? >> how will you move ahead if the president continues to refuse to concede? >> have you spoken to your longtime friend in the senate, mr. mcconnell? >> during the lame duck, will you be coordinating with speaker pelosi on how she should be negotiating with republicans? >> how do you expect to be able to work with republicans when so many have thus far refused toking a knowledge your victory? >> what do you say to the americans who are anxious about

the fact that president trump has yet to concede and what that might mean to the country? stuart: the man on the right-hand side of the screen is bret baier, host of "special report" on the fox news channel. it seems to me that the media, the rest of it, is married to the incoming president. what say you? >> yeah. stuart, good morning. i think this is an example of what we saw in the campaign, right? he didn't take many questions. when he did,s it was an aide that picked a certain select list of questioners, and then those questions really didn't probe policy or really interesting things that are controversy -- maybe one question about the split within his own party, battling over whether moderates or the progressive side of the party, you know, how they look at the election. there's so many things to ask that wasn't on this list. we did, however, get eight headlines about the dog that will be going into the white house. the bidens'. stuart: are we going to get

another four years of this? >> listen, there's a honeymoon period, i guess, and there will be, you know, press that are going to have to find a story. if you think about the current president, how many questions he's answered from reporters over his time in office, it's astonishing. i mean, sometimes we'd see him two, three times a day, and not those kinds of questions. different kinds of questions. stuart: always hostile. you're being very mild, bret. i don't blame you. [laughter] it's quite a situation. sir, i'm going to really change the subject. i'm going to -- >> sure. stuart: -- show a golf shot to die for. that is jon rahm at the masters, practice round. you see this? skips across the water, rolls around, and if you just hold on long enough, br e t, you will see the ultimate, the ball goes in. i shouldn't spoil it. here it goes, here it goes. it's rolling in the right

direction. [cheers and applause] now you, bret -- [laughter] >> yeah. i probably have watched that 30 times. i've already watched it 30 times. it's just awesome. and it, you know, that's the thing at augusta, number 16, they skip the ball over the water and compete with each other who gets closest to the pin. seeing a hole in one like that is just awe sonnishing, and -- astonishing, and this is the best week for a nerd golfer like me. stuart: i didn't know that. i think that he'd hit the ball by mistake to skip it across the water. >> no, no, no, that was a purposeful thing. they try to skip it off the water into the green. [laughter] that happened to be just one of the better shots ever. stuart: i've got to say, i mean, i'm really changing the subjects here, i've got to say i'm really looking forward to the masters in november. normally it's april, and i'm an avid viewer of golf on television. and now i've got something to look forward to in the fall. you'll be watching, right? >> yes. 100%. and the let's part about it is

we get another one in april. so two masters within a few months is great. i'm just waiting for jim nantz so say "welcome k friends," and then everything will settle in for the weekend. stuart: what's your handicap, by the way? >> i am a 2, currently. stuart: oh. i didn't know that. i thought you were going to say -- >> i played in college. stuart: really? you're a 2 handicap? >> yeah. i am. stuart: whoa. i'm glad i ask ised -- >> but i'm a walking wallet, stuart. i'm handing out money to all my friends. i'm a walking wallet. stuart: i am a very good caddy. can i join you sometime? [laughter] >> come on. stuart: look, bret, you're very busy, and we really appreciate you taking time out especially for that jon rahm golf shot. never seen anything like that before. we'll be watching tonight, 6:00 eastern -- >> thanks, stuart. stuart: thank you. we'll see you soon. all right. congresswoman alexandria ocasio-cortez asks people on twitter who they think should

get a spot in joe biden's cabinet. ashley, tell me the news. >> well, where do i begin? all right. ilhan omar as head of homeland security. very popular suggestion on twitter. one tweet said she could then focus on the very real threats in this country of white supremacy. a number of tweets said that homeland security should be eliminated altogether, by the way. squad members, as you could imagine, got a lot of attention. some saying that rashida tlaib should head the department of justice. senator elizabeth warren's name came up for a number of positions including treasury secretary -- i can hear your desure for that, stu -- others say she should be in charge of education. some wanted to see bernie sanders as the next secretary of dedefense, can you imagine? others say he should be in an economics role. andrew yang for secretary of

transportation. but interestingly, aoc herself was not named in many of those potential lists. stuart: oh, what a shame. [laughter] ashley, that is a terrifying list -- >> yes, it is. stuart: -- and not to be taken too seriously, i believe. ashley webster, you're all right. the dow's up 51. more "varney" after this. ♪ ♪ . . (♪ )

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♪ stuart: honestly i'm still trying to get over that golf shot. skips across the water on the 16th hole at the masters. it goes in. jon rahm. that is astonishing a nice rally for nasdaq. nasdaq up 216 points. oh, what a golf shot. neil, it is yours. neil: stuart, thank you very, very much. corner of wall and broad the dow up 5 1/2 points. one of the things we're also following that the entire state of georgia will get a hand recount. can you imagine that. will that change roughly 14,000 ballot gap between the president and joe biden? hard to say. that is front and center. also appearances by both the president of the united states and the guy who is in line to become the next president of the united states to honor our nation's veterans. hillary vaughn from wilmington hey, hillary. reporter: neil, president donald trump