all. 57% of americans want the president to concede after the elections are certifieded, so let's see what we've got here and, hopefully, we can move forward, have trust in our institutions and our government again. maria: absolutely. we all want clarity. thanks so much for joining me, have a great day, everybody. "varney & company" begins right now, stu, take it away. stuart: good morning, maria, and good morning, everyone. for the fourth monday in a row, there is extremely encouraging vaccine news. noer the that that says their product is 100% effective against severe cases. the warp speed development time is unheard of, they will have 20 million doses ready next year. what were not getting, however, is a big stock market rally. we saw that on previous good vaccine news mondays but not so much today. the dow is down about triple digits, 130 points, small loss for the s&p, modest gain for the

nasdaq. now, here are the negative for stocks today. dr. fauci suggesting a lockdown christmas. why? with all the traveling and celebrating we did over thanksgiving, it's expected to produce a new round of infections that will in turn require a new round of restrictions. we'll have more on this throughout the show. i get the impression we're being treated like children, punished for celebrating our national holiday, but don't get me started. one more item. the biden team takes shape, very similar to the obama/biden team that left washington four years ago. neera tanden could go to the budget office, jared bernstein expected to become a presidential adviser, he was vice president biden's chief economist, and back to the future? sure looks like it, doesn't it? on the show today, the priceline ceo offering deals to get people back to travel. the waffle house ceo, he's pounding the table, keep dining

rooms open, he's pleading. and mrs. fields' cookies, their ceo somehow has to replace the revenue they've lost from the malls, and he's on the show. "varney & company" is about to gun. ♪ ♪ ♪ welcome back, welcome back, welcome back, welcome back ♪ [laughter] >> welcome back. stuart: a little before you were born. well, we're all back. what's wrong with that? a little welcome back, the whole crew back together for the first time in a week. there they are, big smiles all around. i want to hear what everyone did over the thanksgiving weekend, but we'll get to that later. firstoff, we'll start with the very good news from moderna and, lauren, you're going to spell it out for us. >> the final results from their trial are in, the vaccine 94.1%

effective. 100% effective against severe cases. so they're going to file for more than use authorization today, and the fda will hold an advisory meeting december 17th to review. now, remember, moderna shots are given one month apart, so if the first american to get dosed is, let's say it's december 19th, they get the second shot january 18th. so we're looking into 2021. and what we don't know is will the inoculation stop the spread of the virus, and how long will protection last. look at the stock. it's up 13% now. 550% this year. but here we have another monday of very positive vaccine news, but it is not today hoping the overall stock market because you could argue these good results are somewhat baked in. stuart: yeah, i think you're right. thank you very much, indeed. the dow's going to be down about 100 at the opening bell.

joining me now, dr. matt mccarthy. doctor, 100% effective against severe covid cases from moderna. that is unheard of. so -- wait, a quick question here. when do we get 70en% of the population vaccinated and we can get back to normal? >> right. 70 percent is that number we're all targeting to get to herd immune few. the challenge here -- immunity. the challenge here is we don't know if people are going to actually go out and if get these shots. the public approval has not hit 70% in any survey that i've seen. so once the data sees the light of day, once people like me can review it and come on the show and say, you know what? this is safe and effective, i will take it and i would recommend that you take it, i do think we're going to see a bump. the timeline that i'm expecting is into june and july when we can start approaching that

number. and i'll tell you, i haven't really gone anywhere since the lockdowns began, but i'm starting to make plans for labor day 2021. so that's when i see things approaching somewhat normal again. stuart: okay. next one for you, dr. anthony fauci warning of a surge upon surge of the virus in the coming weeks after many traveled for thanksgiving. just watch this, doctor. roll tape. >> so, clearly, in the next few weeks we're going to have the psalm sort of thing and -- the same sort of thing and perhaps if even two or three weeks down the line we may see a surge upon a surge. we don't want to frighten people, but that's just the reality. we said these things would happen as we got into the cold weather and as we began traveling, and they've happened. it's going to happen again. stuart: he's pointing towards a lockdown christmas, a lockdown holiday period. in your opinion, doctor, should everyone who traveled this past weekend now go out and get

tested? we've had that suggestion from a doctor on fox news earlier this morning. >> well, in an ideal world where we have universal testing at our fingertips, that would be nice to do. the reality is when i walk down the street in manhattan, i see lines that are miles long of people waiting to get tested. the really -- the thing to think about here is that if you were within 6 feet of somebody for 15 minutes and they test positive, you've got to quarantine. i would like to see anyone who is not sure going and getting tested. and, you know, dr. fauci's point, we don't have to have a lockdown christmas. if people make smart discussions in the next few days and weeks, we can get around this. and what you're going to see are targeted lockdowns. you're going to see things like gyms and bars closing, high risk things. and we're going to try to keep the schools open. i was delighted to see the mayor of new york reverse course. i was on your show saying it makes no sense to close the schools, and he came around on that. i do think you're going to see

targeted restrictions leading up to christmas. stuart: got it. doctor, thanks for joining us. i'm sure we'll be seeing a lot of you in the very near future. now, united airlines has begun first charter flights to move pfizer's vaccine. how are they doing this, lauren? >> with a lot of dry ice. so remember, this is the vaccine that needs to be kept freezing cold, -94 degrees fahrenheit. so what united did was they got approval to fly five times the amount of dry ice to do so, and there are reports that its first cargo flight landed in chicago o'hare from brussels. of course, they have their facilities in brussels, in germany as well as michigan and wisconsin here in the u.s. supermarkets, pharmacies, everybody is stocking up with freezers and syringes to dose the first patients once pfizer's vaccine does clear. and next week, so next week, december 10th, we could see in the u.s. the first emergency use vaccine approved. stuart: december 10th.

that is, indeed, the end of next week. lauren, thanks very much. it is november 30th, right? last day of november. the dow and the s&p, they are headed for the best november since -- >> 1920. 1928, to be exact. for the s&p 500. for the nasdaq, the best november since 2001 right after the dot.com bubble burst. and we've seen a lot of money go back into the underperformers on the year and profit taking coming out of big tech. so the good news is that there's more market breadth, that means more stock are up which is seen as less risky and bullish for the stock market. and unlike most of the year where money has only gone into the five big tech names, energy's now on pace for a record month. financials and industrials on pause for the best month since april 2009, and it's nice to see more stocks get into the rally as we head into the year's end. it's the best month of the year, tip clue in december, called the

santa the classically. stuart: you would have thought -- who would have thought since the 1920s. >> right. stuart: and don't make the comment you remember those days. >> i had to hold off on that. stuart: you did well. let's bring in keith fitzgerald. wait a minute, keith, you're saying the markets could run up another 10-12%. make your case. >> absolutely. very, very straightforward to me. number one, people want to get out. number two, there's $3-5 trillion on the sidelines that still has to rotate. number three, the markets are broadening out. and number four -- actually, four reasons -- earnings are a lot better than people expect. people are thinking beyond the lockdown, the vaccine, thinking about getting back to normal. stuart: what's the biggest dark cloud you see in the future? >> an adverse headline or political discuss cord between china and/or russia. stuart: what about the georgia elections? >> you know, i think that's pretty much baked in the caulk at this point.

and i know that's an overused expression, but i don't think that's going to matter to the big money on wall street. i think they're more concerned about the profits, frankly. stuart: look, we've had this bull market run now for 11 years. i remember march of 2009, i think it was when the dow was down to 6,500. we're now close to 30,000. that's an extraordinary run. do things just run on forever like this? >> well, don't forget, stuart, i mean, number one, it's a great question, but don't forget there have been a lot of ups and downs in the interim. this is a natural formation. capital wants to grow in you let it alone and take care of it. we're in an instance where the world wants the heal. i think that propels things far higher rather than lower or. stuart: so keith fitz is telling me don't sell right now, is that it? >> obviously, i can't advise you personally, but i'm hanging on with my stuff because i

anticipate higher prices 12-24 months from now that i don't want to let go of. stuart: all right, keith, thank you. check futures, we're going to be down a little on the dow, 100 points, that's it. 5 points down on the s&p. nasdaq up about 25. look on your screens, please. nearly one-third of small businesses in new york and new jersey reportedly closed because of the pandemic. however, new jersey governor phil murphy will not rule out a statewide lockdown. watch this. >> i'm not sure i'd say possible, but it has to stay on the table. you hate like heck to have to even consider that, and god willing, we won't have to. stuart: florida where the republican governor ron desantis, he's promising to keep the state open no matter what. what a contrast from new jersey to florida, and we're on it. we will be back. ♪ ♪ promises, promises.

♪ i knew you'd never keep ce vee of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. ♪ usaa before discovering nexium 24hr to treat her frequent heartburn, marie could only imagine enjoying freshly squeezed orange juice. now no fruit is forbidden. nexium 24hr stops acid before it starts for all-day, all-night protection. can you imagine 24 hours without heartburn? ...i was just fighting an uphill battle in my career.

so when i heard about the applied digital skills courses, i'm thinking i can become more marketable. you don't need to be a computer expert to be great at this. these are skills lots of people can learn. i feel hopeful about the future now. ♪

the team's been working around the clock.wire, we've had to rethink our whole approach. we're going to give togetherness. logistically, it's been a nightmare. i'm not sure it's going to work. it'll work. i didn't know you were listening.

♪ ♪ stuart: we just heard that the federal reserve has just announced, actually, that it's going to extend its emergency lending program all the way through march 31st of 2021. that came out about a minute ago whilst we were in commercial break. it has not had any impact on the market. still down for the dow about 130, 140, still up for the nasdaq about 21 points. now, let's check the retailers because today is cyber monday, of course. my question is, susan, how much are we going to spend online today? >> a lot.

adobe analytic es say sales will go up by more than a thursday today over previous years -- a third, and that's double the growth rate west virginia seen in previous years. there's a lot of pent-up consumer demand if even more will be spend than, say, black friday where shoppers spent around $9 billion and mostly online. that's actually slightly less than adobe forecast, they were calling for $10 billion on friday, so maybe they'll get the wallets out more today. looks like shoppers have gone for the earlier deals and have been, i guess, frightened by the warnings of shipping delays. you might as well get your purchases in early so you get them on time for christmas. today would be a bad day for any internet glitches, i think. stuart: sure would. big online sales friday, big online sales today is the story in retail, isn't it? they've got a lot of money. >> in a pandemic year. stuart: and then we have florida reporting over 7300 new cases

and 59 deaths, that was on sunday. the governor of florida, though, ron desantis, he's promising to keep his state open despite the surge in cases. art laffer is here. what does he think about florida and everybody else? art, i got back from florida a couple of weeks ago. down there it's all open, business as usual. it seems that florida is prepared to take the rusk and allow people -- the risk and allow people to assess their own risk. what do you say to that? >> well, you know, i think the wonderful they thing about trums decision is that the governors make the decision for the statement as to -- the astronaut as to -- the state as to whether they're going to stay open or closed, and we will see what the results are from all the different policies. i just love the competition, and i think ron desantis is one of the best governors in the country. i'm a huge fan of his, and i hope it works out for the people of florida.

stuart: do you think that's the way to go for florida, tennessee or any place else? i mean, open up? >> let me just say -- yeah, from my personal standpoint, i'm very, very careful. so i think it's perfectly legitimate to allow people to make the choices for themselves as to what they do, when they get together. now, in certain areas where you have communal events which you don't even know who the people are, i think it makes a lot of sense to have regulations as to how many people can congregate, let's say in a restaurant or something like that. i think both policies make a lot of sense. i don't want to rely totally on someone else's decision as to what my health is going to be, but i do want to rely on my own decision and how careful i am. i think ron desantis is probably going the correct way. i think his policies are better than, let's say, mario cuomo's or murphy's or some of these others, but time will tell. stuart: nearly one-third of small businesses in new york and new jersey reportedly closed because of the virus and the

pandemic and the lockdown. i mean, art, small businesses, they are by far and away the biggest losers throughout this whole pandemic year, aren't they? >> they totally are. i mean, it's so sad to see them losing. i know people risk their own money and risk their own fortunes to do this and, you know, things happen, and this is one of those catastrophic events that has happened that has caused them to lose the money. i really feel very, very sorry for them. i mean, these small businesses are wonderful people with an entrepreneurial spirit. but this is one event that, you know, they just have lost, and it's really sad. there's nothing the government can do, in my mind, that would offset the losses that we've suffered in this country. i think that it's just very, very sad to see someone lose like that. stuart: do you think we're going to have the economy slow down with all this damage to small business and maybe even more restrictions before christmas? >> i think the recent surge is clearly a sign that we'll have much more closure coming in than

we have had in a while. i mean, this is really a very sharp spire, or stuart, as you can see -- spike, stuart, as you can see all over the nation. it's just a huge spike in cases, hospitalizations and also deaths. so i do think there are going to be a clot of clampdowns -- a lot of clampdowns, and i do think it's going to slow the recovery. but the wonderful news is by april, may, you're going to see the vaccines for the highly vulnerable population, and by june i think you're going to see the u.s. back to no lockdown in the u.s. economy, soaring, soaring back. we just have to wait until that time comes, and it's coming very soon -- [inaudible conversations] vaccines are great. stuart: all right. art, out of time but thanks for joining us. i hope you're right, june next year. >> thank you very much, stuart. stuart: all right, see you later. next, the whole foods ceo slamming socialism. i like the sound of that. ashley, what did he say? >> everything that you say, stuart. in fact, you could have written this speech. john mackey, the found or of

whole foods, says that the socialism is a failed system that impoverishes everything. he says it means trickle-up poverty adding that it's been tried 42 times in the last 100 years and 42 failures. it doesn't work, it's the wrong way, says mr. mackey. mack key also says business leaders should do a better job explaining the success of capitalism in the livelihoods of americans. he also, by the way, goes after america's universities. he says they're generally anti-. capitalist with college professors who have no real world experience. [laughter] he says more business people should actually be teaching college business programs. right off the varney handbook. stuart: i like that guy. he makes a lot of sense, mr. mackey. >> yes. stuart: all right, ash, thanks very much. ad lib futures? yeah, i can do that. we're down about 130 for the dow, fractional loss for the

s&p, marginallal gain for the nasdaq. that's your monday morning market, and we'll be back with more after this. muck i have to praise you. ♪ i have to praise you. ♪ i have to praise you. ♪ well have you tried thinkorswi? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪

now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. go from old to new. from worn to wow. the beautiful bath you've always wanted, done right, installed by one expert technician, all in one day.

we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today. ♪ stuart: all right. we open the market in literally three minutes' time, and we're

going to be down for the dow, off about 180 now, but a small gain for the nasdaq composite. now, this is the first time in about a week since the entire varney crew got back together again. all of us doing our thing over thanksgiving s and we're all on the screen right now, so tense the up, people. first of all, to you, lauren. what did you do at thanksgiving? >> it was just the four of us. so we, i made a turkey for the first time. it was very dry, so i'm grateful it was just the four of us. but then we said the heck with thanksgiving, and we celebrated christmas! we put up the christmas tree -- [laughter] my daughter and i did it late into the night. there it is. [laughter] it looks a little crooked in a picture, and the next day we went to see a socially distanced but unmasked santa claus. >> oh. stuart: that's a really -- well done. good thanksgiving there. [laughter] i always have trouble getting

the christmas tree to stand straight the as well. that's always my problem. [laughter] all right, ashley, your thanksgiving. >> you can never get the light perfectly set so there are no black parts in that tree. you know what? yeah, it was myself, my wife and my mom here in florida. it was very low key. i hate to say this, but we were out by the pool, and we had our meals outdoors. it was 82 degrees. and we preorder our thanksgiving meal from one of my favorites, cracker barrel. so no stress, very low key, and we didn't even talk any photos. we're not big into photograph taking. my mother hates having her photo taken, so very nice and very pleasant. stuart: very nice. all right, susan, what have you got? >> i attended a 10% and less thanksgiving dinner, that was nice. we had smocked ham, we had the turkey, i learned how to put balking pieces on the breast -- baking pieces to make it less dry, and i'm still deciding whether or not to go with the real or the fake tree this year

for christmas. what do you think? stuart: go for real. [laughter] >> yeah, if you vacuum the pine, sure. stuart: look, i didn't put up the christmas tree, but i had a wonderful thanksgiving. seven people around the table, so i didn't break any rules. i was out in the country, and unit see a single sheriff drive by to check on the cars that we had in the driveway -- [laughter] is and we were, indeed, in new york state. really one of the things that strikes me about this whole mask-wearing thing is you can't have a real conversation with people. when you're wearing a mask and so are they. because you can't, you can't communicate can. you can't see their face, you don't see what their facial expression tells you. you don't know whether they're smiling. you know, i just don't like mask wearing although one has to do it, and i accept responsibility. anybody got any comment on mask wearing and communication? >> well -- [laughter] very quickly, there's a t-shirt

out right now that has different emotions, and you can point to the emotion on your t-shirt that you're feeling. stuart: i want one. i want one. if anybody wants to get me a christmas present, i'll take that one. all right. they're ringing the bell. we have three seconds to go, and this market will open on this monday morning, and i confidently predict a small loss for the dow industrials. i've got it right. we're down 140 in the very, very early going. but look at the level, 29,757. by no means a selloff. the s&p 500 also ever is so slightly on the downside. .18%. i'm entered in the nasdaq. -- interested in the nasdaq. that may be slightly higher. it is, to the tune of .18%. there you go. let's have a look at the vaccine maker. they're all up except for nova vac advantages, they have delayed their trial, but all the

others are up. show me moderna, there's a big move for you. they've got good news on their vaccine. what is it? >> right. and the good news is that it is 94% effective and 100% effective for the most swoofer cases. so they're going to file today for emergency approval from the fda. okay, who can get it when, we don't know exactly, but they do have the ability to produce a billion doses worldwide next year. and, you know, in the u.k -- this is interesting, because they've secured an additional 2 million doses, so that's enough total that they will have for 7 million people. and prime minister johnson is saying they could, you know, sleeves rolled up, first shots given in the u.k. for the pfizer vaccine next week. so the u.k. could be first in this, in getting people vaccinated. stuart: next week. that's the two words that are really important, next week. roll your sleeves up, and you get one over there. all right. now, show me tesla, please.

i think -- oh, they were up big, they are up big. 3%. 606. why the gain? >> well, green light from china to show sell a shanghai-made model-wide suv. they're ramping up production lines, start the making the model ys in the future. they applied for permission just earlier this month, so tesla's china success has helped propel the stock by 500% this year. they managed to get the first wholly-owned foreign license in china. ford couldn't do it, and then the shanghai factory was way ahead of schedule coming online. they were shipping model 3s by the end of december last year, and they're dominating the chinese electric car market, delivering three more a month than the next competitors combined. a lot of positive headlines coming from that shanghai factory because it has been awesome for tesla so far this

year, and they're set to join the s&p 500 next month on december the 21st, and that means at least $100 billion in index funds have to initially buy tesla's stock to put into their funds and etfs. stuart: tesla's big in china. okay. nasdaq has just hit an intraday all-time high, well above 12,000. that's the nasdaq. now, we have nikola signing a deal with general motors. tell me more about that that, ash. >> yeah. well, this is actually, stu, a revised, smaller agreement than the one announced back in september. it does keep the fuel cell partnership intact but eliminates gm's equity stake in the start-up as well as plans for building nikola's electric pickup truck. initially, gm was going to supply batteries, design production, fuel cell systems and the factory to build the proposed badger electric pickup, and in return for that, gm would get an 11% stake and $700

million. but all of that came into question after a short seller, as you remember, attacked nik nikkola as a fraud, founder trevor milton stepped down as chairman, this is a much smaller deal. stuart: and nikola's down 23% as we speak. thanks, ash. show me apple, please. i believe they're getting -- yeah, 118, up 1.3%. new price targets? >> bullishness here. morgan stanley says the stock is almost double from these levels and that's, by the way, up from 171. a really highly respected morgan stanley tech analyst says strong 5g smartphone demand in the u.s. and china will be much higher than anticipated in the bull' case, so she's forecasting around 268 million iphone 12 shipments. base case is 213 million. you know the bull case and the base case, this is what the

average person expectations, $130 is the base case, could do much better than that. do you get that? stuart: i do. >> another much-listened-to tech analyst remming investors buy -- recommending investors buy apple this morning because that iphone 12 going to sell a lot better. stuart: i know gene munster, did he actually say buy apple? >> yes. from a hold to a buy. think about it. $118, apple's stock hasn't gone anywhere, so there might be some upside left if those shipments surprise. stuart: might surprise, okay. not everybody's getting an upgrade. morgan stanly's downgrading some bank stocks. >> yeah. so we're talking about most banks this morning, goldman saabs, jpmorgan, bank bank of aa going from overwight to underweight, but financials have seen a fantastic november. goldman sachs, jpmorgan, some of the participants in that big rally.

banks are seen as approximate sus in the u.s. economy, how the u.s. economy goes, that's how banks will do as consumers take out more loans, yields should go up in a recovering economy, so they make more money off the interest off some of the loans, but morgan stanley says maybe it's time to profit take, and maybe the u.s. economy might not recover as quickly especially without stimulus on the horizon. stuart: six minutes in, i just noticed we've now dropped 200 points for the dow industrials, 29,700 is your level. now, show me zoom, please. obviously, as we know, it's been a big pandemic winner. but i believe they're trying to look beyond the pandemic. what do they see? >> well, right now results after the belled today, so guidance will be key. we're looking for 300% growth in sales. how many companies can say that, 300 percent? by the way, they made 300% the previous quarter as well, so the stock is up almost sevenfold

this year. you would call it almost the stock of the year since it's in our everyday language. they had 10 million meeting participants at the end of last year, now 300 million. so it's the exponentially grown this year. however, we can't keep growing at 300% levels, so the expectation is we're going to get some stagnation and tough comparables heading into next year because you can't keep growing 300% each and every year, so we're expecting growth to slow down to maybe single digits. still, though, it's been a fantastic, stellar year so far for what i would call the stock of the year. stuart: i want to go back to a story which i know you've already covered, so i wasn't here -- >> yes. stuart: -- and that is salesforce reportedly in talks to buy slack. >> yeah. so we have reports this morning that a deal could be signed as early as tomorrow according to some of the reporting. now, slack hasn't performed as well as it should despite the fact that it's rallied 90% this

year. we haven't seen more than 12 million daily active users whereas if you compare if it to zoom, we've seen that exponential growth, right? so zoom has grown sevenfold this year, slack, pardon me, hasn't been able to, i guess, trail the same type of growth even though they should in a pandemic work from home environment, and salesforce might be putting in a build, worth $16 billion or so? stuart: or so. >> but you're anticipating that price right there, that's probably what's going to be the bid. stuart: okay. up 6% on advantage as we -- on slack as we speak. thanks, susan. kamala harris encouraged people to pay bail for those jailed during the riots. now she's saying something completely different. we'll until you exactly what she's saying now about small business. the biden administration taking shape. some of these names on your screen may look familiar because they're former cnn and msnbc contribute ors. we're on that story down for

you, dow down 260. ♪ ♪ are you frustrated with your weight and health?

it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form. aerotrainer's unique design allows for over 20 exercises for a total body workout. plus, you can easily transition from one exercise to the next. want tighter abs and a stronger back to help relieve pain? do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. start with a wall plank and progress with maximum muscle activation with comfort. work your lower body with the aerosquat or advanced super squat, all while in a safe, ergonomically correct position for maximum results.

build your upper body with pushups. aerotrainer is perfect for bridges and total glute workout. (host) need to reduce stress? just stretch and breathe. (announcer) plus, it's a great platform to enhance yoga and pilates moves, even increase flexibility and reduce back pain for golfers. the aerotrainer is tested to support over 500 pounds. train hard, because aerotrainer can take it. it inflates and deflates in less than 30 seconds using the electric pump. aerotrainer works for families, beginners, and athletes. use it anywhere. even strengthen your core while watching tv. head to aerotrainer.com now. aerotrainer's unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com.

stuart: the price of oil this monday morning has gone up to $45 a barrel. okay, down a couple of cents right now, but $45 a barrel for oil. meanwhile, the price of gasoline stays very, very low, the national average for regular is $2.12 a gallon, it's always way down to an average of $1.76 in missouri. that is the cheapest gas in the nation on average in missouri, and the most expensive, yep, still is california at $3.18 per gallon in the formerly golden state. air travel the, well, that picked up over thanksgiving. that's interesting. lauren, the numbers, please. >> yeah. nearly 3 million people flew between friday, saturday and sunday, flying home from their

thanksgiving gatherings. so sunday was actually the busiest day since the pandemic started, and today is expected to be even busier than yesterday. so we'll see. but as a result of all this, you have dr. fauci warning of a, quote, surge upon a surge of covid cases coming in the next few weeks and, of course, dr. deborah birx assume if you went somewhere, if you saw people that you're infected. look, nearly 1.2 million people flew at airports yesterday alone. stuart: that's a big number, 1.2 million -- almost 1.2 million, biggest since march, i think. that's a real comeback. lauren, thanks. i want to bring in the ceo of produceline, brett keller -- priceline. you're offering, as i understand this, you're offering $5 million in travel deals to try to get people back traveling again. how do these deals work? >> thanks for having me on, stuart. listen, we're obviously seeing a lot of pent-up demand right now.

consumers are very hopeful that the environment is going to improve as vaccines roll out in 2021. and so, you know, on average prices are already down in the hotel industry but over 20% and in the flight industry by over 30%. so what we're doing on cyber monday is we're putting discuss counts on top of that -- discounts to really encourage people to look forward and to travel when they feel safe. which is, obviously, going to be more into 20213, especially the second half of the year. we have a lot of optimism for travel really returning, especially at the domestic level. these deals are available all day today. we have sitewide discounts available as well as flash sales running throughout the day. stuart: could you repeat that? how much prices are down for hotels and down for flights? because that's the first time i've heard real confirmation of numbers on the decline in prices there. hotels and airlines? >> that's right. the industry data is showing that prices for hotels generally

across the board are down 20% versus historical averages. and that's a multiyear low for hotels. flights even more so at 30%, and obviously that's due to the fact that people are just not as comfortable getting on flights right now. stuart: and you're going to add discounts on top of that 20 and 30%. >> that's right. we're layering discounts on top of that to encourage consumers. listen, our job, part of our mission is to save people as much money as possible in travel, and we're there for our partners who really need that help right now to put people back in planes and hotels again in the future when they feel comfortable doing so. stuart: do you think they want to travel is? you said pent-up demand to travel. really? >> well, we saw that moving out of the second quarter into the third quarter through the summer, we saw nice improvement in travel as consumers felt more comfortable moving out and is traveling outdoors. and a lot of the more warm destinations really saw some nice demand pick up.

as we moved into the fourth quarter as things started to come inside, we saw that demand begin to settle back down. of course, you saw the thanksgiving numbers. when people are given an opportunity, they really do want to travel, and we think that as things become more safe, they're going to see a real rapid return in the domestic business. stuart: let's just hope we don't have a lockdown christmas. brett dell or, priceline -- keller, priceline guy, we appreciate it very much. >> thank you. my pleasure. stuart: all right. let's take a look at the cruise lines. i would imagine -- well, most of them are up. this is the normal story, ash, when you've got good news on vaccines, that's what happens, cruise lines go up. >> yeah. but not to the extent that we've seen in the past. if you saw before, some is of the sectors we've been showing, hotels generally down. airlines, except for united, generally down. cruise lines essentially flat. normally when you get news like we had today from moderna, this would be, you know, the starting gun for the stocks to raise.

but i think there's a feeling out there reflected in the travel sector9 and the cruise lines that it's going to take a little longer. the cruise line still have to conduct these test cruises before they can get the green light to start saling again. and what kind of -- sailing again. and what kind of demand are we going to see. people are going to be cautious as we see more restrictions put in place, so i find it interesting before we got news on vaccines this was off to the races, now a little more cautious. by the way, i'm going to be down in port canaveral form which is the second busiest cruise line port. i'm going to get a sense of what it's like. i think it's quiet, but i'm going to find out. stuart: we'll see. a couple of markets we want to check for you, a couple of indicators. the 10-year treasury yield is at .85%. where's the price of gold? turned pressure recently, more pressure if today, you're back to 1774 per ounce. however, bitcoin, i suspect, is back above 18,000.

that was the 10-year treasury, that's the price. [laughter] can you show me bitcoin? >> above 18,000. i can confirm that. but below 19,000 z which is where it was trading before you went on vacation. >> i didn't go on vacation. [laughter] then we have the ceo of waffle house. he's taking a stand against lockdowns. he's begging our leaders to keep dining rooms open. i said at the top of the show he was pounding the table for that, and he is. he's on the show in just a moment. a new report claims that president trump is planning to announce a 2024 run during bind's inauguration. [laughter] more on that coming up. and speaking of the president-elect, he's already called a lid for the day at 9:29 to be exact eastern time this morning. that means you're not going to see him for the rest of the day. he called a lid already are. we'll be back. ♪ i said, young man, what do you want to be?

♪ i said, young man, you can -- but you've got to know this one thing ♪ [ sigh ] not gonna happen.

that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler-

america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call to receive $1,000 off your kohler walk-in bath. and right now we're offering no payments for 18 months. stuart: not even a full week since thanksgiving, and we're already playing christmas music. and look, that's what i'm saying

anyway. okay, so that's what we were doing. i want to show you bitcoin at $20,000 and $150 per coin. that's what you've got. it's up -- >> record. stuart: -- $3,000 up? >> yeah. stuart: the up 19%, new record high. >> so the previous record was 19,600 and change, so this blows it out of the water. don't forget, we have concentrated bitcoin trading, 95% of it is held by just two or three of these traders. stuart: okay. i want to talk about the whole holiday shopping season that we've just been through. that would be thanksgiving, black friday and today cyber monday. record $9 billion spent, that was on black friday. another huge shopping day online today. it's cyber monday. our retail guy is back with us. look, michael, seems to me we this has been a total victory for online retail. that's the total victory as of right now. is it the new normal, michael?

>> absolutely, stuart. in fact, we've transitioned this year from the age of doorbusters to the age of screenbusters. that $9 billion on black friday alone was a 20 the % year on year increase from last year with. also to put it into perspective, in the nine months since covid, we've added 16% to the total of online purchases which run about 32% now. to put that in perspective, the previous 15 years e-commerce was growing at 1% a year, so we jammed 16 years' of growth into eight months, and that's reflected by black friday and cyber monday. stuart: 18 months ago you brought us target and said target's the way to go, this is a great company, and you predicted a good future, and you got it right. give me a retailer as of right now that i should buy that's going to do real well. you've got 30 seconds. >> yeah. i still think there's huge upside for walmart, amazon,

shopify, best buy and home depot. and what all these companies have in common is that they are building robust retail commercial systems that combine offline/online media technology for the consumer. so the ecosystem builders, they own the future. stuart: got it. thanks very much, michael. i'm sorry it was so short, but you got it across, and we appreciate it. still ahead, the waffle house chief, retired general jack keane and kelly sadler. also i think joe biden is locked into his own past. i'm going to explain why, and i'm also going to explain that's giving him a lot of problems. we'll deal with that next. ♪ on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology . .

. . and a champion for my own health. i talked with my doctor... and switched to... fewer medicines with... dovato. prescription dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. with...just 2 medicines... in 1 pill, dovato is as effective as a 3-drug regimen to help you reach and stay undetectable. research shows people who take hiv treatment as prescribed... and get to and stay undetectable... can no longer transmit hiv through sex. don't take dovato if you're allergic to any of its ingredients... or if you take dofetilide. hepatitis b can become harder to treat while taking dovato. do not stop dovato without talking to your doctor,... as your hepatitis b may worsen or become life-threatening. serious or life-threatening side effects can occur, including allergic reactions,... lactic acid build up, and liver problems. if you have a rash and other symptoms of an allergic reaction,... stop taking dovato and get medical help right away.

tell your doctor if you have kidney or liver problems, including hepatitis b or c,... or if you are, may be, or plan to be pregnant. your doctor may prescribe a different medicine... than dovato if you plan to be pregnant or if pregnancy is confirmed during the first trimester. dovato may harm your unborn baby. use effective birth control while taking dovato. most common side effects are headache, nausea, diarrhea, trouble sleeping,... tiredness, and anxiety. so much goes into who i am. hiv medicine is one part of it. ask your doctor about dovato-i did.

we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa ♪ it's beginning to look a lot like christmas everywhere you go ♪ stuart: i like that song. don't you like that? susan: you have to, come on. stuart: it is really beautiful. not even a full week since thanks giving we're already playing christmas music but it is great music. see the tree here? that is right outside our building sixth avenue new york city. that is beautiful tree. we'll use it frequently, i promise you that. here is what else we have. former acting white house chief

of staff mick mulvaney the ceo of waffle house, national retail federation ceo matt shea has a rosy forecast for christmas. we have general jack keane has a lot to say about iran. we have a big show for you. look at the market this monday morning. we're down on own the nasdaq and down on the s&p. this monday like the previous four mondays. we opened on the downside. the last day of november. the latest vaccine news came from moderna. it is very good news. their final trial results show their vaccine is 94.1% effective and 100% effective in severe cases. infectious disease doctor, matt mccarthy earlier this morning on this program, he said the real issue is for people to take the vaccine. roll tape. >> the challenge here, that we don't know if people will actually go out to get these

shots. the public approval has not hit 70% in any survey that i have seen. once the data sees the light of day, once people like me review it, come on the show say, you know what? this is safe and effective. i will take it. i recommend you take it. i do think we'll see a bump. the timeline i'm expecting is into june and july. stuart: into june and july. a lot of people will have taken the vaccine and we'll be coming out on the other side, that is what he says. by the way moderna up 16% right now this going to file for emergency use authorization for the vaccine. they're filing today. just breaking, news from the real estate industry, pending home sales. susan: a little bit of heat coming out of the boom in the real estate market. we're looking at pending home sales in the month of october falling 1.1%. economists were looking for growth and gains of 1%. going in the opposite direction. we're up 20% from last year.

we came off existing home sales at a 14-year high, given that mortgage rates at record lows. so a little bit of heat coming out of the markets. frankly this is about supply, isn't it? there isn't enough homes for people to buy as much as demand is looking for homes to purchase. stuart: put a home on the market in some places in america today and it sells very quickly. susan: i'm guessing florida would be a hot spot, right? i'm guessing. stuart: yes it is. okay. dow industrials down 260. nasdaq down 27. we have down market. now this. joe biden is locked into his own past. some of the things he said during the campaign are coming back to bite him. for a start, yeah he has got a covid problem. he is lockdown joe. he said he would follow the science, okay. but what does he do now? is he going to encourage a lockdown christmas? that is not going to be popular. there is no guarranty of success either. if in the spring we're still

ruining businesses and clobbering the economy, the revolt which we have already seen can only grow and that's a problem for joe biden. that brings up the problem states. new york, new jersey, illinois, california, all run by democrats, all under heavy restrictions, all looking to joe biden to bail them out but he can't. unless the democrats take control of the senate and that is a long shot. he has got a problem. the biden team will be asked, why should the taxpayers of highly successful florida and texas and other republican states pick up the tab for bad management elsewhere? two more items coming from the past, coming to haunt the biden camp. the paris climate accord and the iran nuke deal. the incoming president wants to bring america back into both of them. but wait a minute, ban fossil fuels and say sorry to the mullahs? who really wants either of those things? maybe extremist climate warriors

and anti-israel squad members but that's about it. if you were leading a united party, biden's task would be easier but he is not. there is a bitter feud among democrats. if he were leading a united country his task would be a lot easier but he is not. 73 million voters rejected him and further down the ballot, biden democrats were actually routed. during the campaign biden struck a hopeful note. if we could just vote trump out we could all hope for a brighter future. in my opinion, you want hope then open up for business, don't shut down. let people control their own risk. recognize our enemies for what they are, murderous terrorists. get real on climate. america's already cut emissions more than any other industrial country and above all, understand promises made during the campaign do not offer hope for the future. they just landed the biden team in a mess.

the second hour of "varney & company" is just getting started. ♪. stuart: let's talk about the biden team on your screens right know. they call ad lid for this day but we do have some names of possible cabinet picks. they sent out their list of key members of the economic team. a lot of centrists in the group there. mick mulvaney, former acting white house chief of staff. mick, the socialists will not be happy about these picks they are largely centrist. >> thank you, stuart. thanks for having me. they have been centrist so far. let's not kid ourselves. he has a lot folks to make people happy. centrists at state department

and homeland security. janet yellen is a centrist. what options have we not seen discussed yet? the epa, the department of labor, the department of education, something very close to me, the cfpb for example. of course the very first name came out recently amongst the progressives mirra tandem at office of management and budget. a very powerful position i used to serve in. very interesting to me somebody who is fairly hardcore left in that powerful position. stuart: unlikely to be confirmed in a republican senate however. >> could be very, very difficult and rightly so look, especially if you're going to come out and say you want to unite the nation, the last thing you should do put a hardcore clinton-podesta democrat, a semiadvisor to the clinton campaign at the office of management and budget. keep in mind that office, a lot of folks don't realize this, stuart, not only handles the

budget matters but also handles the regulatory environment. almost every single regulation in the country goes through the office of management and budget. put someone like her in that office could be sending a strong message this administration will go hardcore left. stuart: we'll watch for that but, did you also see this, mick? in california four districts were flipped by republicans. we got them on the screen right now. i never in my lifetime expected to see republicans winning in formerly democrat districts but it happened. i mean, i'm surprised. in fact i would go so far to say that the republican party actually won the election november the 3rd. what say you. >> a couple different things. run for the house it, was four times, what you learn farther down ballot you go, the more candidates matter. i think what republican party has done very well under kevin mccarthy's leadership in the house especially to go out to

recruit really, really good candidates. that makes a difference. we have a saying in this business, regardless what district you are in bad candidates tend to lose. we learned for example, when we lost a senate seat in alabama a couple years pack. they have been able to find good candidates, folks in the private sector, folks with experience, folks that can connect with voters. sends a message, stuart, california may be wearying of that democrat blue wave they have been dealing with for 20, 30 years. there is a lot of good things taken away from the election couple weeks ago. one is the successes in the house, likelihood of a republican take over the house in 2022. stuart: that is what everybody is looking to, 2022. not that far away actually. mick, thanks for joining us. we'll see you again soon. thank you. let's bring in -- let's deal with the market. we're down 300 points for the dow industrials. here is dennis gartman. dennis, here is my question, how will the biden team now shaping

up affect business? >> actually as mr. mulvaney said most of the people nominated thus far for various positions are at least cause city centrists. now they're centrist as far as democrats are concerned but left for most of us but not nearly as far left people had feared. i'm not losing a great deal of sleep over the people who have been appointed thus far. miss yellen is a known product. we've seen a couple people from blackrock actually put into positions of authority and mr. mulvaney was very concerned who is at omb i don't get as concerned about it as he does. he is far more advanced than i am, far more knowledgeable but the omb has been terrible for years and years under democrats and republicans as far as forecasts for economy and deficits have been concerned. so far it is less than overtly left-wing phenomenon. the market has taken it reason

reasonably well. i want to finish by saying great monologue to start the hour. well-done. stuart: i will take the compliment sending my way. i like it. before we go, how are you doing? i know you don't invest much in technology and companies you don't understand. you're an old-fashioned kind of guy. how have your invests been going over the past couple of months like in u.s. -- go ahead. >> you heard me say it before i say it again i like stuff to drop on my foot will make it hurt. to make it simple. i like railroads, i like steel, i like shipping, i like banks. i like things that i understand that will do well in an economic environment. beginning two weeks ago i got out completely. i'm on the sidelines watching. i think the market is egregiously overextended, the fear and greed index is 92. 98 is the high. anything over 70 is extended. a large amount of insider selling 60 to one few weeks ago.

when you have insider selling, public is buying, fear index is over 90 being aggressively long, marginally long i think is ill-advised decision. i will be on the sidelines and on the sidelines for a while. stuart: tell us what you're jumping back into. >> thanks. stuart: now this, google's ex-ceo eric snit, reportedly in the running for a role in the white house. schmidt. >> we know former ceo of goggle, vocal defender of technology giants is reportedly to lead the white house tech task force, something we'll have to practice for the future. there is vocal dissent over the schmidt's appointment. 14 progressive groups signing an open letter urging biden to take a hard-line against individuals with close ties to google. what they're concerned about over search giant anti-competitive behavior when it comes to search and online

ads. the doj filed its antitrust case against google. facebook might also face antitrust litigation as well occurring to report this is morning but he also took issue with schmidt recent citizenship in cypress. calling it a offshore tax haven for $17 billion in wealth. no proof of that. he recently left the board last year. he is a very rich man. we're expecting biden to announce his entire finance team tomorrow. reports this morning again reiterated janet yellen will be the next treasury secretary. stuart: eric schmidt, citizen of cypress. susan: just recently. offshore. stuart: fascinating. susan, thank you. president trump blasting big tech in his first tv interview since the election. watch this. president trump: it is massively powerful. it is massively corrupt. the media and big tech.

section 230 should be taken out because that is their protection was given artificially to them. stuart: all right, kelly sadler will respond to that a little later in this hour. ceo of waffle house slamming lockdowns. watch this. >> i think we made a mistake as a country to label jobs therefore people as essential versus non-essential. every job is essential to the person who has it. stuart: all right. he is right. that ceo, walt emmer is here right after this. ♪

i felt like... ...i was just fighting an uphill battle in my career. so when i heard about the applied digital skills courses, i'm thinking i can become more marketable. you don't need to be a computer expert to be great at this. these are skills lots of people can learn. i feel hopeful about the future now. ♪

to syour body needs routine. system, i feel hopeful about the future now. centrum helps your immune defenses every day, with vitamin c, d and zinc. season, after season. ace your immune support, with centrum. now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. go from old to new. from worn to wow. the beautiful bath you've always wanted, done right, installed by one expert technician, all in one day. we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today.

in a on the most reliable, pnetwork with xfinity mobile.

they can choose from the latest phones or bring their own. and because they get nationwide 5g at no extra cost, they live happily ever after. again, again. your wireless. your rules. your way to stay closer together this holiday season. switch and save up to $400 a year on your wireless bill. and get $300 off when you buy the samsung galaxy note20 ultra 5g. learn more at xfinitymobile.com.

stuart: goldman sachs, the big investment firm on wall street, predicting how quickly the virus vaccines will be rolled out worldwide. so give me the timeline, lauren. lauren: so starting in april half of the population in the u.s. and canada will be vaccinated and goldman says that will drive a pickup in global demand and global growth in the second half of 2021. the wild card here is obviously demand. you need enough people to roll up their sleeves, willing to get the shot to achieve that herd immunity. as for kids because the trials have not looked at kids just yet, goldman says vac nations will start for the next school year. so october of 2021. and that confirms what we heard from moderna this morning. they will start their vaccine trials on 11 to 17-year-olds next month and next year for the younger children. so we still have some time to go. stuart: middle of next year. here it comes. thank you, lauren.

stuart: listen to this. there is a bar on staten island it declared itself an autonomous zonestay open despite restrictions. ashley, tell us how that is going to work? ashley: it doesn't really. max's public house has stopped charging customers. everything is free but they are asking for donations. they're looking for any wrinkle, of course to get around restrictions. now the owners say they got the idea of declaring an autonomous zone from activists in seattle but, authorities say, that is not going to fly. the bar had its liquor license suspended last friday and the sheriff's department is reportedly issuing a daily 1,000 doll heart fine for non-compliance. now under the latest indoor dining is prohibited where the bar is located but the tavern's owners remain defiant and

refusing to abide by any rules or regulations issued by governor cuomo or mayor de blasio. in other words, they have drawn a line in the sand. somehow will be a tough zone but there you go, they're autonomous. stuart: we'll see how that works. thanks, ash. waffle house taking a stand against lockdowns. their dining rooms are open. walt ehmer is the ceo and he is with us now. what exactly do you want? i know you're pounding the table. you say keep dining rooms open but what do you want? do you want all dining rooms in your company to be open 100%? is that what you want? >> stuart, i think what we really want we want there to be a distinguishing between bars and restaurants and coffee shops and not all of these facilities are created equal. we don't have all of our dining rooms open 24 hours a day right now. in a couple of places it has been mandated but we have voluntarily shut down our dining

rooms at night because we recognize it in some circumstances the alcohol does play a role in terms of people socializing a little too much and crowds gathering. so we're not looking for 100%. what we're looking for judge every situation the way it should be judged and let us do what we do and what we've been trained to do. stuart: what happens in a state which enforces the closure of restaurants and you've goat a restaurant, you've got a waffle house in that state? will you defy the authorities? >> we have not defied any authorities yet. we have. stuart: yet. but will you? >> state of -- yeah. stuart: but quill you. >> hard to answer a hypothetical, stuart. right now we have not violated any government rules. stuart: i'm trying to figure out what degree, not revolt, that is the wrong word but resistance to the lockdowns that seem to be

spreading. look, we've got the suggestion there will be more lockdowns and restrictions as we head toward the holiday period and the christmas period. i'm trying to get a sense how strong the defiance is going to be? >> well let me tell you it is not just our business. everybody in our industry is focused on the people in our industry and our people have been decimated by these restrictions. when you look at the states where people are not allowed toe work we're taking away people's livelihood, taking away their hope for the future, especially this time of the year, people can't consider buying their kids christmas presents. it is devastating to the people. the people can't wait until spring. our folks, other people in the restaurant industry and other industries they just want to work, stuart. they want to work safely. we have proven we can work safely. we want government leaders to pay attention to the fact that not everyone of these situations is the same and one size fits all solution doesn't work. stuart: i'm sure the authorities are hearing what you have got to

say and so do our viewers. walt, come back anytime you like. pleasure to have you with us. >> thank you, stuart. stuart: sure thing. let's move on to airbnb and doordash. i'm interested in investing in both of them when they go public. susan: you are? stuart: i believe they are going public next month but what kind of value will be attached? susan: a lot more expected given that they raised cash at probably half the levels they're targeting in their ip-es. doordash is looking at valuation of $30 billion, raising $2.8 billion by selling shares and raising cash in their ipo. they're looking at a price range of 75 to $85 a piece according to reports and that is double the private rounds when doordash was raising cash at $16 billion this summer. airbnb starting the ipo road show. they're trying to he will is the ipo to potential investors. reportedly valuing itself between 30 and $33 billion at the peak.

almost double the value they raise emergency cash at at height of covid in march and april. airbnb is one much the rare unicorns making money. reporting a surprise profit last quarter of nearly $150 million. however with airbnb are making profit. growth is slowing. where growth is accelerating at doordash. they're supplementing each and every delivery. airbnb likely to raise $3 billion in the ipo. my flying unicorns i will hold you to, you will invest in them. we'll see if stu invests in new technology companies. stuart: i'm blown away by 30 billion-dollar valuation on doordash. susan: why is that surprising to you? stuart: they deliver food, don't they? susan: yes. stuart: 30 billion from nowhere. susan: uber is worth billion. paid four billion for boast pace. stuart: i will have to get food delivered. i will understand for sure.

susan: one day, joe biden looking to doubling the tax rate for top earners. grover norquist says the middle class will suffer. he will make his case. he is with us in the next hour. first, more people opting to stay home and buy online this holiday season. that doesn't mean the pandemic is slowing down shoppers. ceo of the national retail federation is here next. ♪ at t-mobile, we believe you should get more.

that's why we've merged with sprint. now it's about to get even better. and as we work to integrate sprint's network,

our nationwide 5g keeps getting stronger. with the capacity and coverage to reach more people and places across the country. who says you can't have it all. now is the time for 5g. now is the time to join t-mobile.

♪. ♪ i want to tell her i love her a lot but i want to get a belly full of wine ♪ stuart: the paul mccartney is singing about queen elizabeth. the song is called "her majesty." we're talking about this specifically because netflix wants them to put a warning label on "the crown." what is the label they want to advise against? >> that "crown" is a work of fiction. he said without that declaration generation of viewers may confuse fiction for fact. he says the series does lasting damage to the monarchy and prince charles. a source in "the daily mail," that the script is a overt republican agenda and

sophisticated propraganda. the most controversial aspects including the timeline of prince charles' affair with camilla parker bowles and verbal abuse towards diana. earl spencer, diana's brother, saying it is pure drama for drama's sake. he worries that the americans tend to take "the crown" as fact which it is not. stuart: i agree with that. watching the series all the way through, it is heavily fictional in various places. all right. susan is pulling a face here. susan: fictional? stuart: it is fictional. susan: they had diana's dress, had -- stuart: elements of fiction. you americans. susan: yeah. stuart: check the markets, please, get me out of this. the session lows for the dow. we're right there now. down 327, that is for the dow. the nasdaq is down about half a

percent, 66 points lower. morgan stanley raising the price target on apple. they think it is going to go to $191 a share. that is their bull case. that is the best case they have got. luke capital, another outfit, they upgraded the stock as well and apple is up this morning. salestores is in talks to acquire slack. that could happen earlier this week. sales force is down, slack is up. cyber monday, that is today of course. spending set to smash records. grady trimble is in a walmart in chicago. what is walmart doing on cyber monday? reporter: stuart, they have great deals in store, but they have been pushing people to the website this year just like all the brick-and-mortar retailers have been doing. let me show you some. best sales we've been able to find on walmart's website. apple airpods, big discount on

those. for those who need to clean up, irobot vacuums and dyson are on sale. people working out at home on the pandemic, want to step up their game, look for a treadmill. stuart, you may need a few extra bar -- barbie dolls. last cyber monday was biggest one on ever. this one is projecting to be bigger. adobe saying we'll spend between 10.8 billion to $12.7 billion that would be up 15 to 15% over last year. we spent nine billion dollars last friday which is the second biggest day of online sales of all time. certainly in chicago it is a good day to stay at home and do shopping online. it is crummy weather the. stuart: you look cold, grady. hustle inside of that walmart. grady, thank you very much.

let's get the big picture here. the national retail federation expects holiday sales to go up 3.2 to 5.6%. that is a strong forecast. the nra president matt shay is with us. online, bricks and mortar, big picture up to 5% gains this holiday season. that is pretty big growth. >> good morning, stuart. we see this is reflexsive environment. the economy got back on track. a variety of means, you know that really have supported their spending. the cares act, higher savings rates, repurposing income from other categories. so, after the last six months and particularly october, sales were up 10.6% in october over october of 19. we think there is a lot of momentum that will carry us through the holiday season. stuart: if we get some kind of a

lockdown holiday period, that is possible. would you, that would simply force sellers, sales, to online, right? >> well i think, stuart, in your last segment with walt who is member, waffle house is members of the nrf, you heard the conversation what is happening, how it impacts jobs, i think the real important takeaway there, retailers large and small demonstrated consistently from the beginning 6 pandemic we can open businesses in a safe health way way, protect communities, customers, sales associates. retail storeses that is not where we're seeing the big spread. with he can control that environment. our view would be as we get into the holiday season retailers learned a lot since the beginning of the year. we ought to keep the economy over and moving forward. stuart: have we started sales or buying early this year? >> we have, stuart. we launch ad campaign, called

shop safe, shop early back in october. many retailers, small, mid-size retailers asking customers to rethink shopping patterns. nearly half the consumers we polled and surveyed, they started holiday shopping earlier than ever, began earlier than ever. we lentenned the season. that is taking pressure on single events and big days. that is keeping everybody safer. we believe it will make up for a lot of sales that would otherwise occur all compressed in the last couple of weeks in the holiday season. stuart: good. we could use a big, joyful celebration in december. matt shay thanks for joining us. >> thank you, stuart. stuart: coming up, joe biden making climate change one much his top priorities. what will that do to the economy? economist steve moore will break it down for us. he is on the show. first of all, mrs. fields, they're a mall staple. but foot traffic in malls is

way, way down. so how does mrs. fields plan to counter the problems of their stores in the malls? well, we, ceo is on the show next. we've also got some mrs. fields cookies sitting right next to susan and i. we'll grab them any minute. we'll be back. ♪

♪. stuart: now we have a new low of the morning. we're down 412 points for the dow industrials. my explanation is, let's see what susan thinks, but my explanation is, we've got, we're staring in the face a lockdown christmas which will surely slow the economy and that i think is bad news for stocks. anything else? susan: i think it is profit-taking given we're looking at the best month for the dow since 1987. best november since the 1920s. we have positive vaccine news. pfizer is up 2 1/2%. moderna will apply for vaccine

approval. this should be all positive, right? it is already priced in. we're looking at declines in the financial stocks that have run up so much. fantastic november for goldman sachs, jpmorgan, leading the way lower. airline stocks, a bit of froth taken out of high performers over the past 30 days. i think it is profit-taking that we'll recelebrate again, rotate back in december, when the more money is found, after all the budgets are done. stuart: we've got that. we're down 409 points, 412 points as we speak, 415. bottom right-hand corner of your screen. then we have this. mall staples like mrs. fields, they have to replace all the mall revenue that they have lost because of the pandemic. less foot traffic in the malls. we all know that. we have the famous brands international ceo with us now. nelson, you run mrs. fields. forgive me for saying but i think you're under the gun here. you've got a slowdown in mall

traffics, a slowdown in your revenue from malls. you have to make up the revenue somehow or other. how are you doing it? >> stuart, we're fortunate. we have a very viable e-commerce business that is performed extremely well this year and in our mall retail locations we'll be ready should customers be allowed to visit those stores. we'll be ready to meet their needs but for us it is about providing flexibility, having as many options available for the customers. we do that through the mrs. fields.com channel. stuart: that, i think you are really under pressure here, look, i've been to malls all over the country. i always remember mrs. fields cookie. i always drop by for a chocolate oatmeal, whatever it is and now that traffic is vastly reduced. how, can you give me some numbers on your delivery service, your online business? >> stuart, our online business has performed extremely well. we have experience ad fantastic

year as customers have transitioned over to the online business. we've been able to meet their needs. so we've had a couple of really good years over the last few years but over this last eight or nine months or so, we had really an explosion in the internet business. -- stuart: revenues from online, has money come in from online fully replaced the money that you have lost from the malls? >> it has, stuart. we're actually having one of the better years we've had in a long time. mrs. fields is a 40 plus-year-old brand. it has great heritage and customers i think appreciate the brand and the quality of the product. so as customers look for ways to connect with their friends and families they look to do so in different ways. we believe we have a great product and a great gifting assortment to meet those needs. fortunately we've been able to mitigate the risk from the store side. stuart: nelson. i want to thank you, a, for coming on the show, b, certaining us all the examples

of mrs. fields cookies which are stacked -- there you go. see them right over there? we have got a lot of them. we'll be distributing them to our family, friends and staff members, everybody else. i will try some but not on camera, okay? nelson, thank you very much indeed. see you soon. when we come back i will have gained three pounds. a new report claims that president trump is going to announce a 2024 run during joe biden's inauguration. it is just a report but i'm going to ask kelly sadler about that in the next hour. the biden's camp iran problem getting worse after the assassination of a top iranian nuclear scientist. general jack keane will be talking about that in just a moment. ♪. the company who invented

car vending machines and buying a car 100% online. now we've created a brand new way for you to sell your car. whether it's a few years old or dinosaur old, we want to buy your car. go to carvana and enter your license plate, answer a few questions, and our techno-wizardry calculates your car's value and gives you a real offer in seconds. when you're ready, we'll come to you, pay you on the spot, and pick up your car. that's it. so ditch the old way of selling your car, and say hello to the new way-- at carvana. new projects means you need to hire.gers. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home.

it's time for aerotrainer, with your weight and health? a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form. aerotrainer's unique design allows for over 20 exercises for a total body workout.

plus, you can easily transition from one exercise to the next. want tighter abs and a stronger back to help relieve pain? do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. start with a wall plank and progress with maximum muscle activation with comfort. work your lower body with the aerosquat or advanced super squat, all while in a safe, ergonomically correct position for maximum results. build your upper body with pushups. aerotrainer is perfect for bridges and total glute workout. (host) need to reduce stress? just stretch and breathe. (announcer) plus, it's a great platform to enhance yoga and pilates moves, even increase flexibility and reduce back pain for golfers. the aerotrainer is tested to support over 500 pounds. train hard, because aerotrainer can take it.

it inflates and deflates in less than 30 seconds using the electric pump. aerotrainer works for families, beginners, and athletes. use it anywhere. even strengthen your core while watching tv. head to aerotrainer.com now. aerotrainer's unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. ♪. stuart: the dow industrials down 370 now. they were down 400 a few minutes ago. look at the nasdaq, really falling out of bed, 1.1%. that is 137 points lower. i think it is because we might be facing a lockdown christmas. susan is pointing out this is

probably profit-taking after a terrific november. either way, the markets are in the red as of this monday morning. then we have united airlines, they have begun charter flights to move pfizer's virus vaccine around the country. they're using a whole lot of dry ice to keep this vaccine freezing cold. it has to be delivered very, very cold. that is what united is doing. the airline itself is slightly lower. pfizer's stock is slightly higher. uk hospitals that would be hospitals in britain, could get the first covid vaccine doses soon, very soon. all right, when, ashley? ashley: how soon? how about starting december the 7th, one week from today? the british government ordered 40 million doses of that two-shot vaccine developed by biontech and pfizer. the data shows it is almost 95% effective in a trial of almost

444 people. if they give regulatory approval, first in line to give them, residents and staff of nursing homes. followed by those aged over 80 and general health workers. a network of doctors, national health hospitals and dedicated sites will be used for delivery of the vaccine. again, could begin, stu, one week from today. it would be the first western country to get that process underway. stuart: we said soon. that is soon. one week from today, ashley, thank you. now this, totally different subject, very important. iran's leadership wants revenge for the assassination of that nuclear scientist who was killed over the weekend. retired general jack keane joins us now. general, where, this assassination carried out over the weekend, where does this leave joe biden and his wish to get back into the iran nuke

deal? >> well, i think it really gives him some added leverage. there are some people from the obama administration in the past, cia former director and also a former national security advisor ben rhodes, that see this as a negative thing and it is tying the biden team's hands. i don't get that at all. here is what i see happening. two major events have taken place in the ensuing five years since the nuclear deal. the consensus it is flawed. the other thing that the arabs and israelis moved closer together in normalizing relations in the region. big deal. huge political paradigm shift. why? because of iran. that is a growing coalition against iran. the second thing happened that the trump comprehensive sanctions against the regime has put iranians on their heels in a way they never have been. in comes the biden team now. what does he want? he want as better nuclear deal, he has leverage here, based on

what i just pointed out to negotiate a much better deal than what we've had. use that leverage. use the israelis, what they're doing with their mossad to put pressure on the regime. it's a stick and use it around i think we can get a better deal. what would that look like? permanent probushion of nuclear weapons. permanent prohibition of ballistic missile development anywhere, anytime inspections and also curtail your activities of conflict operations in syria, yemen and iraq. that is what a new deal would look like. stuart: you think the iranians are so far back on their heels, really rocked to their foundations, that they would allow inspections anywhere, anytime? a commitment you will never get a nuclear weapon? would they accepted that? >> i think the iranians have never had an experience like they're having right now, stuart. and that is, economy that is in the tank, inflation spiraling out of control. they're only getting 10% of

their exports in terms of oil, in terms of revenue that is. and, they have got unbelievable civil unrest in the country focused against the regime. and that, the, how wide spread that is. they have not seen in thrash 40 year history, yes, we have got them on their heels. now is the time to be tough with them. the problem is the obama administration conceded on all the points i made to you. they made those points to the iranians and the iranians balked. we rolled over to them. this time we're going to find out if this biden team is tough-minded and they're not echo of the old obama-biden administration which represent new administration. stuart: which way do you think it will go? >> i think they will split the difference. i don't think they will be as tough-minded as they can be and should be. they will get some improvement on the deal but not to the degree that i'm talking about which i think is clearly a possibility. but i'm hoping that as this team

comes together and they actually talk to people in the trump administration, about what they think the state of play is, fashion a tough-minded approach in dealing with the iranians. i think we could get a very, very good deal out of them if we're tough-minded. stuart: that is fascinating. general, thanks very much for coming. we've not seen you in a while. don't be such a stranger. love to have you back. >> you betcha. stuart: thank you, general. see you again soon. got a big show ahead starting with ed rensi. kelly sadler also here as is grover norquist and stephen moore. i can't stop talking about florida. i was there a few weeks ago. the difference between there and new york is like day and night. you will have another my take on it. the third hour of "varney & company" is right around the corner. ♪ our new house is amazing. great street, huge yard.

there is a bit of an issue with our neighbors fencing. neighbor 1: allez! (sound from wind chimes) neighbor 2: (laughing) at least geico makes bundling our home and car insurance easy. which helps us save even more. neighbor 2: hey, sarah, hey, peter! neighbor 1: touché. neighbor 2: ahhh! neighbor 1: pret! neighbor 2: en garde! for bundling made easy, go to geico.com unlike ordinary memory want supplements-ter? neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. memory, focus, accuracy, learning, and concentration. try our new gummies for 30 days and see the difference. i was blessed to be part of building one of the greatest game shows in history. during that time, we handed out millions of dollars to thousands of contestants. i thought, what if we paid the contestants their winnings in gold instead of cash and prizes. back in 1976, we had a wonderful contestant named lee,

whose 3-day winnings were valued at $12,850. and you know what? that was a pretty big haul back in 1976. so i wonder what would have happened, if lee had put $12,850 in cash and then put $12,850 in gold in a safe? just sitting there side-by-side from 1976 until now. well, i went back and ran the numbers and what i found was amazing. we all know that $12,850 in cash would still be sitting there, but it would be worth a whole lot less than it was in 1976. but that $12,850 in gold, safely stored away, it's worth $135,000 as of the taping of this commercial. now that's more than 10 times the original amount. - [narrator] if you've bought gold in the past, or would like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold.

which we'll provide you important, never seen before facts and information you should know about making gold, silver, and platinum purchases for faster wealth protection, request a digital version of our complete information kit, which will be emailed for faster delivery. you can also receive a copy of our new "us gold report" for 2020. inside, you'll find the top 25 reasons why you need to start owning gold today. - with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, us money reserve is one of the most dependable gold distributors in america.

>> someone like neera a tan den in that office would be sending a strong message. >> i don't want to rely totally on someone else's decision as to what my health is going to be, but i do want to rely on i few own decisions. >> i do think we're going to see a bump, but i'm starting to make plans for labor day 2021, when i see things approaching somewhat normal again. >> people are thinking about beyond the vaccine, they're

thinking about getting back to normal. >> west virginia jammed 16 years of growth into one year, and that's reflected by black friday e and cyber mono. ♪ -- lots of mistletoe. ♪ lots of snow and ice -- stuart: that's stevie wonder. i didn't know that. okay. that's the first time i've ever heard that. all right. i love that picture. that was a live look at our all-american christmas tree right here on sixth avenue, new york city. as for the markets, a few minutes ago we were down 400, now we're down 300. i think it's a lot of, because we're worried about an upcoming -- [laughter] i'm getting, i think there's a problem on the market with what looks like a lockdown christmas coming right in front of us. susan, however, thinks it's more like -- >> yes, profit taking.

stuart: get me off the this and show me moderna. their vaccine is 94.1% against the virus and 1900% effect i have -- 100 president effective in severe cases. the stock is up another 14% on moderna, 145 is the price. and now this. are we facing a lockdown christmas? my opinion, yes, we probably are. dr. fauci believes there will be a surge in new virus cases following thanksgiving. is so here come the restrictions. here's what dr. fauci has to say. >> we may see a surge upon a surge. we don't want to frighten people, but that's the reality. we said that these things would happen as we got into the cold weather and as we began traveling, and they've happened. it's going to happen again. stuart: all right. i get the feeling we are being punished. we traveled over thanksgiving, we mingled, we celebrated so now

don't do it again. lockdown, it's started already in california. 10 million under stay-at-home orders in that state. but i keep thinking about florida. i was there two weeks ago. it was pretty much business as usual in the stores, restaurants, bars and the beaches. it's like day and night compared to new york. now yesterday, sunday, florida reported 7,300 new cases. that's a sharp increase. but there will be no statewide lockdown. governor desantis ruled that out some time ago. you see, florida is treating its residents like adults. you think you're at risk at that restaurant or on that beach? well, don't go. florida is booming, and it's looking forward to christmas. as we approach the holidays, spare a thought for the lonely, the depressed, the isolated and all the people who are paying the social price of shutdowns. i bet they would prefer celebrations and freedom to another round of lockdown punishment. the third hour of "varney &

company" is about to begin. ♪ ♪ stuart: ed renzi is with us this morning, chairman of fat brands. ed, should more states be following florida's example and leaving it up to the people to make their own choices and establish their own risks? what do you think? >> i think that governor desantis has done exactly the right thing. they've laid out broadly what the circumstances are, what the solutions are, what the citizens' behavior should be. he allowed the leadership to come down to the local communities, the mayors, the county executives and say, look, where we're at, this is what we've got to do. miami's a hot spot. sarasota is not. the rules for miami are a bit different than they are in sarasota or across the state. i think there's a difference between leadership in florida and bullying in illinois and

new. you can't browbeat people into doing the right thing because, ultimately, they're going to resist. allow people to exercise their common sense, understand what needs to be done, coach them, lead them, don't browbeat them. you know, there's a big price to be paid for these lockdowns psychologically. i know a lot of seniors that are desperate right now because they haven't seen family or friends for weeks. it's a very lonely state to be in. stuart: you're in florida, i think. i think that's where you are. i think you're a resident there. look, i was there a couple of weeks ago. to me, it was like business as usual. it was not quite normal because people were wearing masks, but it was open for business and dynamic. that was two weeks ago. still the same now? >> well, i do live in florida, and being in the restaurant and hospitality industry, i can tell you the way we run restaurants today is radically different than it was 18 months ago. we have taken seats out of our restaurants, we've separated

tables, the dining, we've moved bar seats around, we're outside more. and thank god florida's an outside state, not an indoor state. so we have a little bit more flexibility than some other states. but i look at illinois, they've lost are 61% of small businesses in the last 18 months. how do you survive that psychologically? the irreparable damage from bullying by this government has got to cease. we have common sense exercising of wash your hands, keep your hands off your face, sanitize, disinfect, behave yourself. don't get in large groupses of strangers. it's just common sense. i my wife traveled to chicago to see her grandkids the other day. she said it's like being in a third world country there. that's not the way to live your life in this country. stuart: real fast, ed. if you've made changes to the way your restaurants operate, are you bringing in as much money as you were before the pandemic and some of the changes you had to make? >> well, because we're a public

company and i'm the chairman, i'm not going to talk about money. but let's say this, we're very surprised at how delivery, pick-up, drive-throughs, sensible minnesota you changes, pricing structures, all of that plays a role. we're not where we were peak pandemic, but we certainly are going better and better every day, and i'm very proud of fat brands and what they've done. my old company, mcdonald's, has done a fabulous job as well. people adapt to the circumstances they're in. we do adapt and cover come, and i think we ought to trust the our citizens to do the right thing. stuart: well said. ed renzi, always a pleasure. we appreciate it. thank you very much, see you later. >>ing thank you. stuart: back to money. back to the markets, and we're down 300 for the dow. we are down 90 on the nasdaq. jason katz is with us, ubs managing director. why is the market down this monday morning? we have had a disagreement on the set here.

susan says it's profit taking, i say we're staring at a lockdown christmas and we don't like it, it'll affect the economy. what say you? >> well, perhaps you and i could compromise since congress can't. i say i meet you in the middle of there. there's definitely concern that with increased covid cases it will lead to more lockdowns, more restrictions and, clearly, that will impede economic growth. so, you know, i definitely think this has been a november to remember. it's the best on record since 1928 for the dow and s&p. so the other side of that, stuart, is that there has to be a little bit of profit taking after a parabolic rise this month. stuart: tell me about what you call big tech enablers, back-end technology companies which facilitate the big name technology guys. explain that and give me some examples, will you? because i know that's the kind of company you like to invest in now. >> sure.

so it's time to look at boring technology. the front end of technology, aka the fang stocks, have is taken us to the part. i'm not so sure they're going to take us home. don't get me wrong, i think you hold those stocks and right-size them, but it's the bakken end of technology where i think the opportunity lies. there's no need to find the next gold mine when you just, like, buy the companies that supply the picks and the shovels. in other words, tech enablers; big data, ai, robotics, automation, 5g. you think about what's happened, stuart, with covid, it accelerated the need for faster internet speeds. it's exposed our vulnerability with respect to supply chains. our food supply chains. we now need social distancing in factories, so we need automation. all of these companies behind the scenes as evidenced by today's big ai merger are going to be thebag backbone of the

next leg of the technology run. stuart: i'd just like to know who makes those plexiglas screens. there's a place to invest. thanks very much, indeed, jason, see you again soon. thank you, sir. >> thank you. stuart: switching from stocks to bitdown. look at it, $19,805. could close at a historic high? >> yeah, that's right. even pressed above 20,000, and that's probably where we're heading. is this time different from the 2017 records when it hit above 19,700 and then crashed to $3,000 18 months later? this time around investors say it's much less speculative, so much better. in 2017 asia investment money, this time it's much more stable, and bug money that we're talking about -- big money. so 95% of the daily $15 million in bitcoin supply is being bought up by investors, square and paw pal according to one analysis, so adoption, jpmorgan

going more mainstream, even with fidelity, has really been the key to this rally e we've seen in bitcoin. and it's not the rat poison square that buffett has called it, but a lot of big hedge fund managers like paul tudor jones, i mean, these are not speculative folks and bitcoin they say this time around is much different from what we saw in 2017, and we could go above some even say probably the highest out there, 313,000 at the end of next year. stuart: it just scares me to death. >> it does. stuart i don't understand it, i'm probably not going to get into it even though i missed what looks like or could be the golden opportunity. >> well, things have changed. because when it goes mainstream, it's much different -- stuart: yeah. it has gone mainstream, as you've explained to me over the last couple of weeks. all right, joe biden wants to double the capital gains tax rate for top earners, but tax

guy grover norquist says the middle class will suffer too. he's going to join us next. but first, you might recognize these faces, joe biden's white house communications team. that's because a lot of them worked for liberal news outlets. we're on it. and speaking of the biden camp, he's already called a rudd for the day -- a lid for the day at i 9:29 eastern this morning, or to be exact. that means you're not going to see him for the rest of the day. don't worry though, "varney" is not calling a lid, at least not just yet. we're only just getting started. ♪ ♪ ♪ ♪

♪ ♪ ♪ our own hopes and dreams. we'll pass many milestones. moments that define you. and drive you. to achieve even more. so, celebrate every one. because success isn't just about where you want to get to. it's also about how you get there the all new 2021 cadillac escalade. never stop arriving. ...i was just fighting an uphill battle in my career. so when i heard about the applied digital skills courses, i'm thinking i can become more marketable.

you don't need to be a computer expert to be great at this. these are skills lots of people can learn. i feel hopeful about the future now. ♪ my hands are everything to me. but i was diagnosed with dupuytren's contracture. and it got to the point where things i took for granted got tougher to do. thought surgery was my only option. turns out i was wrong. so when a hand specialist told me about nonsurgical treatments, it was a total game changer. like you, my hands have a lot more to do. learn more at factsonhand.com today.

>> the media and big tech, section0 should be taken out because that's their protection that was given artificially to them. but it's a massive form of corruption and silence and suppression. they won't talk about hunter biden. never talk about hunter biden. stole millions and millions of dollars. and if you do talk about him, they take you off their platforms. no, it's massively corrupt. stuart stuart there you have it e, that was president trump clearly slamming big tech. this comes as joe biden unveils his white house communications team, several of them work for very liberal organizations, news outlets, and they're on your screen. it's an a all female communications team right there. we have with us today kelly sadler, america first communications director. kelly, biden has barely answered questions, and when he has, they're pre-selected for him.

i put it to you, and i'm sure you're going to agree with this, nothing's going to change with the media. they're going to support biden and hate trump, and it'll just go on and on. no change at all. you with me? [laughter] >> i'm with you. you know, i think the media has taken a vacation, and they took it as soon as they declared joe biden the winner. i mean, with had a cbs morning news special on, breaking news, joe biden is going to get a cat. i mean, these are the sorts of stories that were never given to the trump administration, you know? these humanizing stories of who he's bringing in. they say, oh, he's going to bring in for the first time, it's going to be an all-female press communication shop. well, that's false. the president of the united states, donald j. trump, has got a female press secretary, a female communications direct orer, the vice president does and so does the first lady, but all of that is ignored. they're just rolling over for joe biden. stuart: okay. and that's not going to change. but i want to talk to you about

california, actually. the president lost the state in the general election by 20 points, i think. a significant loss. >> yes. stuart: but the gop flipped several congressional seats in california. i was amazedded by that. >> yeah. i mean, we have won four out of the seven seats the democrats flipped in 2018 which is the best that we've done in the state of california in a decade. but look across the country. look at the house races that were supposed to be toss-ups or leaning democratic that got flipped to republicans. thirteen seats and counting. this was not a blue wave. i believe that, you know, lockdown mentality, do funding the police -- defunding the police, this sprint toward socialism was thoroughly rejected in this election, and it brought forth a red wave that we're excited to see in the house and, hopefully, we'll are in the senate as well after these runoffs in georgia. stuart: do you think you might regain the house in 2022? >> i think it's absolutely possible. these republicans need to be true to the president.

it's the populism that he injected in these last four years; lower taxes, deregulation, hands-off government, you know, leading the world this getting out of the iranian nuclear deal, the paris climate accords. these, this philosophy needs to be continued by these newly-elected republicans. and if they continue that, they should, we should do even better in 2022. stuart: last one, kelly. there's a report that claims president trump is planning to announce a run in 2024 on the very day that joe biden is inaugurated. you're smiling, you're laughing. what can you tell us about in this? [laughter] >> listen, the president -- the race for 2020 is still on. there's many states that have been contested that are going through a recount, the electoral college has not, you know, has not elected anyone. we've got to wait until december 14th, see how these court challenges pan out, and then we can talk about 2024. [laughter] stuart: that was an interesting dodge of the entire question.

[laughter] kelly sadler, you won that one. thanks for joining us. see you soon, thanks very much. >> thank you. stuart: a look at the vaccine maker ors, why don't ya? moderna straight up, nearly 17% higher. pfizer's up 2.5%. and we have this from britain. , that country could become the first western country to start actually vaccinating people. ash, again i'm asking the question, i asked you last hour, when are we going to see in this. >> well, they say, the u.k. government, it could begin one week from today, december the 7th. how about that? the british government has ordered 40 million doses of the two-shot vaccine developed by pfizer and biontech. it's very effective, up to 95%. if britain's regulatory agency gives emergency approval -- and they could, they could pseudostep the e.u -- sidestep the e.u. agencies and go it alone which they are going to do -- that means the first jabs

could be given to nursing home residents and staff working there, to health care workers and to anyone over the age of 80. a network has already been set up of doctors, national health hospitals and other sites that have been picked for dlufly. they're also chasing down the moderna vaccine that we heard about today, and let's not forget the astrazeneca/oxford vaccine that has also proven to show pretty good effectiveness. the u.k. government basically throwing everything but the kitchen sink to get this out as quickly as possible. stuart: one last wunsch ash. >> yeah. stuart: a bar, or a pub in britain, they've been real createoff the skirt the virus. tell me what they're doing. >> oh, you're going to love this. the 400 rabbits tequila and cocktail bar in nottingham, i'm sure you know it well, in the u.k., looking to a higher authority to keep the doors open. the bar owner is trying to register his establishment as a

church to get around strict virus restrictions. [laughter] he's renamed his buzz the church of the 400 rabbits. he now needs people to sign up as congregation members either as bunny believers or reverend of the righteous rabbits. it is so quintessentially british. [laughter] stuart: it is. i've got a follow-up one. that bar on staten island that declared itself an autonomous zone. is that somewhat similar? can you explain? >> well, it is, i mean, in name only. mac's public house on staten island has stopped charging customers. everything is free. but they are asking for donations. is this a way around the rules? well, the owners say they got the idea of declaring an a on the mouse zone from activists in seattle, but authorities say nice try, it's not going to flew. the bar had its liquor license suspended last friday, and the sheriff's department is reportedly issuing a daily $1,000 fine for noncompliance. those restrictions, or the

latest ones in south staten island, indoor dining prohibited. but the tavern's owners remain defiant, they say, get lost, we're refusing to abide by rules issued by either governor cuomo or mayor de blasio. be interesting to see how this plays out. stuart get lost. that's a very american response. >> yeah, get lost. [laughter] stuart: thanks, ash. what else have we got? i'll tell ya, shoppers spent $9 billion on black friday, and they're expected to spend even more on today's cyber monday sales. i'm going to call this a huge online win. joe biden just nominated neera tanden as his budget chief. she's the president and ceo of a very liberal think tank. tax guy grover norquist says that's going to be bad news for your money. grover is next. ♪ ♪ money, money, money, always money in the rich man's world ♪

it's been a tough year. and now with q4 wrapping up, the north pole has to be feeling the heat. it's okay santa... let's workflow it. workflow it...? with the now platform, we can catch problems, before customers even know they're problems. wait... a hose? what kid wants a hose?! fireman? says "hose". -it says "horse"! not a hose! cedric! get over here! now our people can collaborate across silos, from across the globe. so how's the new place? it's a 4 bed, 2.5 bath igloo... it's great!

yeah, but you have to live in the south pole. sir... -wait, are you sure? yes, we're that productive now. you hear that?! the kids get twice the presents! about time 2020 gave us some good news. whatever your business is facing... let's workflow it. servicenow. anna could only imagine a comfortable night's sleep without frequent heartburn waking her up. now, that dream... . ...is her reality. nexium 24hr stops acid before it starts, for all-day, all-night protection. can you imagine 24 hours without heartburn? some things are good to know. like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid, you may be able to get more healthcare benefits through a humana medicare advantage plan. call the number on your screen now and speak to a licensed

humana sales agent to see if you qualify. learn about plans that could give you more healthcare benefits than you have today. depending on the plan you choose, you could have your doctor, hospital and prescription drug coverage in one convenient plan from humana, a company with nearly 60 years of experience in the healthcare industry. you'll have lots of doctors and specialists to choose from. and, if you have medicare and medicaid, a humana plan may give you other important benefits. depending on where you live, they could include dental, vision and hearing coverage. you may also get rides to plan-approved locations; home delivered meals after an in-patient hospital stay; a monthly allowance for purchasing healthy food and beverages, plus an allowance for health and wellness items. everything from over-the-counter medications and vitamins, to first-aid items and personal care products. best of all, if you have medicare and medicaid,

you may qualify for multiple opportunities throughout the year to enroll. so if you want more from medicare, call the number on your screen now to speak with a licensed humana sales agent. learn about humana plans that could give you more healthcare benefits; including coverage for prescription drugs, dental care, eye exams and glasses, hearing aids and more. a licensed humana sales agent will walk you through your options, answer any questions you have and, if you're eligible, help you enroll over the phone. call today and we'll also send this free guide. humana, a more human way to healthcare. stuart: we've come back a butt from thes of the morning but not that much. we're still down 388 on the dow, that's 1.3%, and the nasdaq's down 100 points. plenty of red ink on a monday morning. general motors is no longer

going to take an equity stake in nikola. finish gm will supply fuel cells. nikola's stock is down 24%. that's what happens when gm is not going to buy a piece of the company. >> and also the badger, the all-electric pickup, is not coming to market with gm's help, so this a's a blow. >> down 24%. general motors down as well with. tesla, i believe they are now down. this were up earlier, but a general downside move in the market, they're down, but they did get good news. >> long-term bullish for tesla to get the green light from china, right now tesla currently sells its china-made model 3, but they're ramping up production lines to start making model ys and they are anticipating chinese government approval. they applied for permission earlier this month. 500% rally plus this year, it's really been helped by the china success. stuart: sure.

>> first of all, tesla managed to get the first wholly-owned foreign car license in china, something that ford and gm couldn't do. also, by the way, the shanghai factory was way ahead of schedule, and now they're dominating the chinese electric car market, delivering more per month than their next three chinese competitors combined. and they're also going toings e port china-made model 3s to europe, so it all sounds really positive, and they're going to be added to the s&p 500 finally next month on december 21st with at least $100 billion in these index funds having to include tesla. so that is overall bullish for the stock. stuart: i'll say. it was at 600 earlier today. china seems to be the ace in the hole. >> that's right. stuart: we're down 412 points again, so we're back to that almost low of the day. let's have a look at the airlines, please. we've got this -- i've got numbers on travel. now, the airlines are down, but these travel numbers are pretty

good. look at that. 1.176 people -- million people passed through tsa check epoints on sunday. that's almost 1.2 million on sunday. that's the best number since march 16th. okay. so travel is down 60% from the same time last year, but it is clearly picking up. now this, joe biden making climate change one of his top priorities. stephen moore, economist, is with us. so, stephen, can green policies -- if he gets to pursue them -- what impact on the economy? could -- he says, the biden camp says green policies grow the economy. what say you? >> well, that's what the liberals and environmental u.s.es have been saying for 40 some years that, you know, a big burst in solar energy and wind power was going to transform the american economy. i go back to the 1970s, stuart, when everybody thought we were running out of oil, and all we've been doing is pouring hundreds of billions of dollars

in subsidies into wind and solar, and it's still a pretty de minimis amount of our overall energy. but the big story of the american economy over the last ten years, stuart, has been the incredible revival and rebirth of our oil and gas industry through the shale revolution. and to put that in jeopardy, i think, is a fool's errand. i think it will cost the economy potentially millions of jobs, and i think you'll see -- and, by the way, stuart, not just in the oil and gas industry. one of the things that has made manufacturing and construction and american technology number one in the world has been that we have the cheapest energy of any other country we compete with. if we transfer from a relatively cheap form of energy which is natural gas to wind and solar power which is, in many cases, 2-3 times more expensive, that's got to be the negative for the economy. stuart: is that accurate, that

the cost of electricity certainly in the industrial parts of the united states is lower than almost any place else in the industrial world? is that accurate? >> that absolutely is. and that's because, you know, look, think about what's happened just the last ten years, stuart. i was just looking at these numbers over the weekend in terms of the natural gas price. it went from, like, $12 down to, like, 2, $2-3. so if my math is right, that's like a 75% reduction in power costs due to the very cheap natural gas that we get from pennsylvania and ohio and oklahoma and texas, north dakota and so on. and that has made america very competitive in manufacturing and other industries. incidentally, i would also add, as you know, stuart, it was about ten years ago that germany tried this all-in approach to getting rid of fossil fuels and moving towards green energy, wind and solar power. and after about five years of

that experiment, germ gnu realized that, you know, the country that is famous for german engineering, that they were losing manufacturing job, they were losing their industrial base because their energy costs went up so much. so that story of green energy or renewable energy does not have a happy ending. now, look, i'm not saying 10, 15, 20 years from now we might see some major break flus in solar power and it might be competitive. it isn't right now. and, by the way, the wind energy, it makes no sense whatsoever. stuart: middle ages type of energy. well, that'll live on videotape. >> well, you know, stuart, they had windmills in the middle ages, and that's how they -- you know, there's a whole story of the industrial revolution that's one of energy when we moved away from wind power and other types of energy and we moved towards steam engines and coal and other things. i mean, this country was built on fossil fuels. [laughter] stuart: it was.

did you see this, steve? this is a tweet from the world economic forum. you know, the davos people. five reasons we need to start nurturing and eating weeds. yes, you heard me right, weeds. it links to an article that says weeds can be a reliable food source, and they can help tackle climate change, steve. what do you make about that, eating weeds in. >> well, these are economists. they know so much about knew tradition, i'm going to take their -- nutrition, i'm going to take their advice. stuart: dandelions can be quite attractive. >> i think they were talking about the kind of weeds you smoke. [laughter] stuart: i don't think so, stephen. i think they're talking about something else. are you going to davos this next year? >> you know, i've only been to davos once, stuart, and that was four years ago, and just a quick funny story about it, the reason i was invited at the last minute was that, surprise, surprise, donald trump won the election. and so they at the last minute

asked me to come over there and represent trump, and i went. and i've never seen such a loss tulle group. [laughter] -- hostile group to what trump want with to do than the people at davos. it's basically all the euro bureaucrats and the environmentalists and the ruling elite. the last thing they want to do is put america first. of course, they're cheering that joe biden is now going to be the next president. stuart: a managers, let 'em eat weeds. thank you very much, steven moore, see you soon. >> okay, sir. stuart: remember when kamala harris encouraged people to pay bail for those jailed during the riots? those people destroyed many small businesses. but, lauren, now kamala harris, vice president-elect, is saying something different. what's she saying? >> she is coming under fire for tweeting support for small businesses, and she wrote over the weekend small business, especially black and minority-owned businesses, you are gently need are i leaf to survive the effects of

coronavirus this winter. what is wrong with that, you ask? well, people are saying it is hypocritical because in june she tweeted this: chip in to the minnesota freedom fund to help post bail for those protesting on the ground in minnesota. those that were protesting were rioting 360 businesses in minnesota were destroyed, vandalized in the wake of the george floyd killing. so critics are saying president-elect harris, pick a lane. are you going to support the rioters or the small businesses? stuart: yeah. [laughter] try that one out. lauren, thank you. back to the markets, the dow down over 400 points. not quite the low of the day. we're going to cover this for you, see what's going on. and joe biden nominated neera tanden as his budget chief. she's the president and ceo of the very liberal think tank. tax guy grover norquist says that's bad for your money.

he's going to deal with that shortly. ander in yam web ester's dictionary just announced its word of the year for 2020. we'll let you take a guess. the answer coming up after this. ♪ don't you forget. ♪ it's my life, it never ends did you know you can go to libertymutual.com to customizes your car insurance so you only pay for what you need? really? i didn't-- aah! ok. i'm on vibrate. aaah! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

before money, people tools, cattle, grain, even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale.

♪ ♪ i think we're alone now, there doesn't seem to be anyone around. ♪ stuart: susan knew this song from the very first bar that she heard, and there you go. very nice. look at that, that's times square on a rainy monday. no wonder it's absolutely empty. by the way, as we told you before the break,

merriam-webster dictionary just announced its word of the year for 2020. no surprise, there it is on your surprise, pandemic. word of the year. [laughter] stuart: now, look, a lot of us are staying home, and home depot sales are booming. we've been bringing that story for nine months. home depot just made a big acquisition though, ash. who'd they get? >> they just bought industrial director or hd supply holdings for $8.7 billion. in fact, it's a kind of a reconciliation, if you like ors after home depoe sold hd 13 years ago, back in 2007. but, as you say, the pandemic has created an m&a boom in the materials sector. deals have already exceeded $15 is billion with more transactions expected before the end of the year. in home depot's cause, the hd deal gives greater access to professional contractors as a families move to the suburbs to

buy bugger homes or build bigger or homes or focus on remodeling their existing homes. either way, this is a sector that's done very well in the last nine months. stuart: it sure is. ash, thank you. it's no secret joe biden wants to change tax policy, we all understand that, and it's going to affect more than just the rush. that was my opinion and also the opinion of grover norquist, americans for tax reform president. he joins us now. i want to talk capital gains with you, grover. as i understand it, the biden team wants to double the top capital gains tax rate to 40%. that's just for high income earners, more than $400,000 a year. but didn't biden also say he wants everyone, quote, every single, solitary person to pay capital gains taxes at an ordinary income tax rate? that's a shocker. >> well, he has stated repeatedly that he wants every single, solitary american, rich,

poor -- a lot of people have capital gains inside 401(k)s and iras, you sell a house, a property -- he sometimes says he won't tax anyone who earns less than $400,000 a year. but remember janet yellen, who he wants to puppet in at -- put in at treasury, is a longtime supporter of a carbon tax which would raise the price of a gallon of gasoline 40 cents or $10 every time you fill up your tank. they don't ask you whether you make $400,000 when you go to the -- when you get something at a gas station. janet yellen's energy tax, the president's capital gains taxes and, of course, the president also said as part of the capital gains tax increase he wants to recognize the capital gainses tax when you get something from a relative. if you are given a home or inherit something or a family business or farm, you need to pay the capital gains tax that

had built up before it was given to you and e pay that in cash. so not -- it doesn't roll over, it doesn't move up. you would actually have to pay the capital gains from a death and a state bequest the moment you got that farm, business. it would tear family farms apart in the country. stuart: it certainly would. let me just get back to capital gains for ordinary people, so to speak. let's pose you make $200,000 a year. not exactly ordinary, but that's a strong income. $200,000 a year. next year you sell a stock and make a profit. you make a capital gain on it. do you then have to pay instead of the capital gains tax, you as an ordinary person would have to pay ordinary income tax on that capital gain. is that the way it's going to be? >> well, he says that sometimes we'll pay 40%, twice what you pay in communist china.

the rate he wants to bring it up to is twice communist china's capital gains tax. and he doesn't make it entirely clear some of the time, but he has said everyone will pay at least the ordinary income rate, which is higher. and, remember, when you earn a lot of money one year because you sold a farm, a house, or land, that's not your income usually. you may be a very average earner, but every once in a while you sell a piece of property, and you look like you're rich. biden wants to tax you as if you were always that well-to-do, as if that was your permanent income. in the whole list of things that he has offered to go through -- i actually have a piece on fox business news, on your web site, fox news, cod on the list of -- today on the list of horribles of tax increases that biden, yellen and now neera tanden have all been supportive of in the past. he is going far to the. [laughter]

when he's picking people making economic and tax decisions in his a administration. stuart: all right, grover, another warning from you, and we will heed e that warning. grover norquist, appreciate it. good to be with you. stuart: we're going to tell you which basketball superstar they're teaming up. the stock the's only down a tiny fraction. today is cyber monday, expected to be the largest online sales day in history in america. a live report from chicago for you. that's coming up. ♪ ♪ i knew about the tremors.

but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid.

ask yoit's moving day. andalist are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.

you might think you were born with a slow metabolism.d to lose weight, that's exactly what these people thought.

(woman) i lost 75 pounds with golo. (announcer) nambu lost 48 pounds. hannah lost 60 pounds. and graham lost 131 pounds. how? they went to golo.com. now it's your turn to lose weight quickly and easily with golo. head to golo.com now. that's g-o-l-o.com. stuart: under armour teaming up with ana a few nba titles,

three of them, i think, to his name. and he he has two of the titles to his brand as well. think about it, jordan's generated around $3.1 billion in sales for nuke in the last year, that accounts for roughly 8% of nike's total sales. you know how much michael jordan's being paid by nike? stuart: tell me. >> $130 million. steph curry is being reportedly paid $20 a year up until 2024, so we know these side brands tend to work. let's see if the curry brand works. stuart: if you're bringing in the money, if your brand works, take the money from nike, from under armour. you deserve it as far as i'm concerned. >> oh, yeah. think about the brand, it's probably been marquee at nike for so long, after being retired for over 20 years, i'm talking

about michael jordan. stuart: good for you with, michael jordan, as far as i'm concerned. this is cyber monday. could be the biggest online shopping day in history in america. grady trimble still outside that walmart in chicago, still freezing to death right there. how are the big box stores trying to keep up with walmart? >> reporter: well, they're trying to give amazon a run for their money. interestingly, though, there was a line at this walmart when it opened at 7:00 this morning, so they're trying to push people online, but people are still showing up in person. to show you some of the numbers, sensormatic solutions says on black friday retail foot traffic was down about 52% and that is, of course, because the retailers are actively discouraging people from showing up in stores. they're offering fewer doorbusters. a lot of them were closed on thanksgiving, and they're hoping to drive that traffic online. and so far it does seem to be working. let me show you the market share this black friday according to edison trends. amazon actually gained market share because so many people are

shopping online from about 51% last year to 55% this year. but followed but walmart, best buy and target who are hoping to chip away at that. and also they spread out their sales, a lot of the retailers, over the entire month of november. so it wasn't as much one huge shopping day for some of them as it was over is several weeks, stu. stuart: all right. 55% share goes to amazon. why am i not surprised? thanks very much, indeed, grady. stay warm, young man. quick market check, we're down almost 400 on the dow, 1.25%. there'll be more "varney" after this. ♪ laughing all the way to the bank. ♪ 'cuz they all just seem to so funny -- ♪ but to guys like us in a big tour bus -- ♪ making that easy money

. . . one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business.

stuart: all right. on your screen the fox tree a wonderful looking tree outside of our building all lit up in lights. on the other side, rockefeller tree. not so good. lauren, big changes coming for the rockefeller tree. tell us, please. lauren: that tree is a bit bald. you need a reservation if you want to see the famous tree this year. so the lighting happens this wednesday, closed to the public. if you want to see it after that, tickets will go on sale starting thursday. you get five minutes to walk up to it, see it. but you can use your own tree if you want in the living room if it is fake. you know how hard it will be to

get a real tree this year? tree farmers saying 10 years ago they planted less because of the recession t takes eight to 10 years for a tree to grow. now everybody is decorating early. and you know -- stuart: we're ought of time. i could sell you a real nice black cherry, red oak would do just fine. believe me it would. my time's up. neil, it is yours. neil: stuart, have you seen the tree they are using in new york? it is hideous. it is the worst charlie brown tree ever. stuart: say that bad, besides it was cut down about 15 miles from my place upstate new york. don't insult it too much. neil: did they, did they cut down the wrong tree? it really is awful. they should have gone to your compound. they would have to get through all the guards and security but once they did, they would have builders choice. tickets to see that thing? i don't think so. thank you, stuart. i will get over