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tv   Varney Company  FOX Business  December 4, 2020 9:00am-12:00pm EST

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with all of you today. have a great weekend. i will see you this weekend on wall street. got a big show. we will talk about real estate and the economy and on sunday morning futures, i have an exclusive interview with the director of national intelligence. hope you will join me. have a great weekend. thanks for being with us. "varney & company" begins right now. stu, take it away. stuart: good morning, maria. have a great weekend. everyone, have a great weekend, if you can. three big stories. the jobs report, california has backed a lockdown and the market rallies. let's deal with jobs first of all. just 245,000 new jobs last month. clear evidence that the recovery in the job market is indeed cooling down. the unemployment rate dropped to 6.7%. that's good. so, too, is the news on hourly earnings, up again. perhaps the slowing labor market will encourage a rescue package before year end. we shall see. then there's california. it's about to put in place the
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most severe restrictions since the spring. outdoor dining will be closed. cancel travel, stay at home, don't even walk around outside if you can avoid it. as the restrictions grow, so does the revolt. the l.a. county sheriff says he will not enforce these new rules. but more restrictions are coming. joe biden says he will ask us all to wear a mask starting at his inauguration january the 20th. let's sum it up like this. a record virus death toll yesterday. 100,000 in the hospital. the authorities respond with new lockdown rules. the mood just before the holidays is subdued. we have all got virus fatigue and throughout the show, you will see how people feel about that. all right. to the market. modest rally this morning. yet again, we are being told there's a good chance a virus aid deal before the end of the year and by the way, those emergency payments run out one week from today. the dow should be up about 100 points. nasdaq up about 15.
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s&p up about 9. very modest rally. big friday show coming up. the president goes to georgia tomorrow. kayleigh mcenany will tell us what he is planning. larry kudlow joins us. his comments, we expect, on this weak jobs number. and you have opinion on the growing pandemic fatigue. we are all fed up with it. and the revolt, it is growing. we are on that, too. "varney & company" starts now. ♪ stuart: this is the beatles. susan: how many christmas songs do they have? stuart: that's not a christmas song. there are two reasons why we are playing that song. two of them. first of all, we have beatles memoribilia later in the show.
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on your screens, left-hand side, a john lennon double fantasy album signed for mark david chapman the night of the assassination. it's expected to sell for $1.5 million. you can also expect to hide your love away, that's the name of the song there, and you can hide that away and your smile for the first hundred days under the new administration. roll tape. >> in the first day i'm inaugurated to say i'm going to ask the public for 100 days to mask. just 100 days to mask. not forever. 100 days. and i think we'll see a significant reduction that occurs with vaccinations and masking to drive down the numbers considerably. considerably. stuart: i promise you, we are going to cover all of that throughout our three-hour show. let's get the latest now on the vaccines. in september, pfizer said it would deliver 100 million vaccine doses.
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in november it slashed that to about 50 million doses. lauren, come into this. why the delay? why the slashing? lauren: good morning. it can't get the raw materials in time so it said it will ship half the doses expected this year, or enough for 25 million people. so you have the supply chain problems coupled with the later clinical trial, but pfizer says look, these can all be overcome, we are on track to deliver as promised 1.3 billion doses next year. but there's worry because they use the same technology as moder moderna, that moderna might have similar issues and similar setbacks finding ingredients with their supply chain. meantime, we do have news on moderna. they are touting the long-term immunity that their vaccine does offer, so patients showed high levels of antibodies, this is good, three months after they got the first shot and then two months after they got the second jab. they say they are confident they can supply as promised 20 million doses in 2020.
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a lot coming very soon. stuart: got it. thanks very much. let's move on to -- there's always movers. before the market opens, there's always various stocks that are moving significantly. on your screens now, one of those stocks which i missed completely but which has more th than tripled this year. susan: docusign up 5.5% in the premarket so it will be a pretty good session. the electronic signer made more money in sales in the summer months and also gave a rosy outlook for the entire year. subscriptions went up by half, 50% up, and analysts loved this report card. seven of them raised their price target this morning. rbc going way up saying it's worth $325 apiece, that's up 40% from these current levels. going the opposite direction, something that stu knows, ulta beauty. looks like beauty retailers didn't do as well as anticipated. foot traffic was down 9% in the summer months. stuart: that's all? susan: when you are on zoom calls, i guess you don't need to
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put all that makeup on. stuart: foot traffic. i thought the stores were closed. only down 9% foot traffic in the stores? susan: foot traffic and same store sales. want me to use same store sales? sales went down 9% in the snummr months. i think it's a recovery story here and the stock reflects that. cloudera is a one-stop shop for businesses to store, analyze and process data, anything like snowflake, anything that helps companies do better when they are working from home and on the cloud and remotely usually has won in this earnings season. stuart: clever name. cloudera. you got to be in the cloud these days. thanks very much indeed. overall, futures are showing a modest gain this friday morning but up about 100 for the dow. jonathan hoenig back with us this morning. all right. look, jonathan, everybody who comes on this show, all the major wall street firms, they are all bullish for next year.
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every single one of them, virtually unanimously bullish for next year. i'll believe it only if the republicans take both those georgia senate seats. what say you? >> well, look, if you are talking about the markets, you have to follow the market. look, it's been a tremendous bull market throughout any number of variables in 2020. really almost impressive. of course, led by those american tech companies but think about it. the pandemic, election uncertainty, and you know, this does remind me of the nasdaq, not necessarily the valuation, but the persistence of that bull market. we saw all-time highs this week for nearly all the major indices. the nasdaq went up in '95, '96, '97, '98, in 1999 it went up 95%. wall street analysts, big wigs are bullish but there's a lot of reasons to be bullish. nearly 85% of stocks are above their 50 and 200-day moving average and we talked for so long about the narrowness of the advances into big cap tech.
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basically since the election you started to see that broaden. something that worries me is maybe we are a little too bullish and there are some indicators to suggest that's the case we're in right now. stuart: okay. but i'm not selling unless the republicans lose both seats in georgia. by the way, before we close, thank you very much for your christmas present to me and to some of our other producers. for everybody who should know this, jonathan sent me a collection of ayn rand's works, the fountainhead, atlas shrugged. libertarian stuff from 50, 60 years ago. i have read it before, i will read it again. you, sir, are all right. thank you very much. >> bless you. bless our viewers. thanks. the best in the holiday season to us all. stuart: to you, too. thanks very much, jonathan. move on. oh. new restrictions are being put into place in california. tammy bruce is here. we just got reported here that the l.a. county sheriff says he's not going to enforce the
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rules in l.a. this is a revolt big-time. what do you say? >> well, it is, and you know, you spoke about pandemic fatigue. what it really is a fatigue of is hypocrisy fatigue, flip-flop fatigue, political theater fatigue. you have california which has been extremely strict keeping everything locked down, masking all the time throughout the state. we see of course politicians ignoring those rules from gavin newsom to nancy pelosi. but what we have also seen, like europe has seen and what the world health organization has said, is that lockdowns are not the answer. how much sense does it make when you know that the virus spreads within enclosed spaces, when people are around together each other for a long period of time, that is the definition of a lockdown. that does not help. it makes things worse effectively. that's what we have seen again in europe, the nations that
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locked down versus those that didn't like sweden have a very different experience when it comes to the long term. so this is about fatigue or at least a realization of politicians who don't know what they're doing who are engaging in theater to make it seem as though they know what they're doing but also, i believe to condition people into this idea that you need government, government needs to micromanage your life, and thank goodness for the sheriff. our law enforcement is the first firewall between atyrannicalframework of city government or federal government or state government, between saying you must do something which is unconstitutional or maybe not even a law. these executive orders are not laws. i think that's good news for the sheriff and californians are saying enough is enough. there's a recall effort against newsom. i think we are going to see some movement here. stuart: i just want to get this
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sound bite in from joe biden and kamala harris. their first joint interview since the election. watch this, please. roll it. >> we are full partners in this process. i will be there to support him and support the american people. >> we are sympatico on our philosophy of government and sympatico on how we want to approach these issues. like i told barack, if i read something where there's a fundamental disagreement we have based on a moral principle, i'll develop some disease and say i have to resign. we don't have -- we discussed at length our views -- stuart: i will come up with some disease and i will resign? tammy, give me 20 seconds on that. >> well, obviously that's not what the people voted for. they voted for what i guess they thought was going to be joe biden. many of us said that he was an empty suit, a trojan horse but if you've got a moral difference
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with someone, you don't walk away and surrender. if that's his plan here at home, what's his plan in the national field internationally. it's one of the most ridiculous things that you can say but it tells you the lack of leadership, the lack of focus and it's dangerous and disturbing. stuart: thanks for joining us this friday morning. i hope you can have a good weekend. we are all going to try for that at least. thank you very much. >> absolutely. stuart: president trump raised an astonishing amount of money, almost a half billion dollars just since mid-october. what does that say about 2024? i'm asking kayleigh mcenany. she's coming up on the show. the new administration wants you to wear a mask for 100 days. will the whole country be on board with that? we are going to cover it for you. yes, we do have larry kudlow on the show. in the past, he's moved the market. you got to stay tuned for that. we'll be right back. ♪
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(announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. stuart: friday morning, green on your screen. dow is going to be up about 100. small gain for the s&p and for the nasdaq. and then we have southwest. warning workers that layoffs could be coming. how many, lauren? lauren: 6800. 6800 southwest workers may lose their jobs. that's a lot of employees but it's also a first for southwest. they haven't cut jobs yet because of the pandemic. they are also expected to report their first ever annual loss, so
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the situation's bad. when would the cuts happen, if they happen? march and april. it would affect the ground crew, customer service, flight attendants as well as pilots. how can they be avoided? if the unions agree to more concessions like pay cuts or if there's a new stimulus deal. speaking of stimulus, remember when the first deal or the only deal ended, when it expired on october 1st. immediately the airlines slashed 29,000 jobs right in the aftermath and since then, they have cut thousands more so it's estimated now that the airline industry as a whole is going to employ 90,000 fewer workers by the end of the year than last year, taking us back down to employment that we saw in the 1980s. yeah, more people flew for thanksgiving weekend but that was still 60% than thanksgiving 2019. stuart: they got really throttled, i will put it like that. on your screens now, we have the airlines. most of them are up this
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morning. perhaps because the weak jobs numbers suggest we might get a year-end stimulus package which might help the airlines. nonetheless, they are up. susan: off of vaccine hopes as well, maybe we will return to normal when it comes to travel. wolf research not buying it and jumping in with a contrarian call this morning, saying they are underweight u.s. airlines and boeing. they are calling delta, united underperformers along with boeing. however, you do have airline stocks as i mentioned to you, higher today on hopes of some sort of stimulus package coming from congress and vaccine distribution. boeing rallied nearly 5% yesterday with more confidence in the 737 max jet. a bit of profit taking here. american airlines say they will be the first to fly the plane again. ryan air says they will order 75 more. united says we will take delivery of some jets next week. things are looking up for boeing at least. stuart: come on in, senator bill
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cassidy, republican from louisiana. mr. senator, i want to know what you make of joe biden saying he wants everybody to wear a mask for 100 days right after his inauguration. [ laughter ] >> you can joke about somehow being offended by the inauguration. clearly he's responded to coronavirus. the coronavirus rate is going up. so he's calling us as the american people to a greater awareness of the need to do personal responsibility. [ inaudible ]. stuart: i'm afraid we have got a problem with the video and the audio there. it's breaking up. i've got a freeze frame at the moment. i'm not sure whether the good senator can hear me, but we are not hearing him clearly. can you hear me okay right now? >> yes, sir. i can hear you. stuart: okay. we are seeing you in a rather disjointed fashion. i will continue. this is important.
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you were part of the bipartisan group that pitched the $900 billion virus aid framework. today, we got weaker jobs numbers. does that mean we are likely to get that package? is it more likely that we get it because of those weak job numbers? >> i think we have the only bipartisan bill up there. bipartisan, both the house and the senate. the president has endorsed it. he's even supported the $900 billion package. schumer and pelosi [ inaudible ] and the chamber of commerce has. put that all together with an economy that's weak and the strain of the coronavirus, i think that pushed it over to get it successful. stuart: i'm going to break off now because i'm afraid it's just not up to broadcast quality for audio or video. i do apologize, sir. hope we can get back to normal in every sense of the word at some point soon. mr. senator, thanks for being
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with us albeit briefly. we appreciate that. if you look at futures, we are going up, 100 points for the dow, maybe 15 for the nasdaq. it's not a huge rally by any means. but it's an upside move. i like the green. now take a look at the empty times square. look at that. okay, so it's not a very nice day in new york but there are no tourists, no travelers, no people, no office workers and we are three weeks to christmas in times square. looking rather grim, i'm afraid. we'll be back. ♪ america's been waiting for. verizon 5g is next level. unlimited plans fit everyone in your family starting at just $35, with 5g included at no extra cost. plus, you'll get the entertainment and gaming the whole family will love. 100% obsessed with "the mandalorian." (man) i watch a lot of sports. (woman) it has all my favorite shows. switch now and save $700 on galaxy s20 plus.
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stuart: all right. we're up a little bit on the market and gary kaltbaum joins us now. gary, i read your stuff, you know that, and you say the businesses hit hard by the virus are making a turn for the better. however, i'm going to throw this at you. we've got a record number of deaths yesterday from the virus, 100,000 hospitalizations, heaven knows how many new cases, i think it's over 200,000. doesn't that interfere with the rebound argument? >> look, markets -- let me put
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it best, the vaccine has overridden in the market the virus at this point in time. the market is looking forward to when the vaccine eradicates a good part of this or all of it. that's why you see it started november 9th, the airlines and cruise lines, which haven't even started cruising, those stocks are now turning up also. it goes for energy stocks, it goes for all travel-related stocks. i suspect it's going to continue as we get going. leave no doubt, the numbers overall not only here but around the globe are pretty darned terrible and i will tell you, the market would be a lot lower if we didn't have this vaccine news, but the vaccine's doing the trick right now for the markets. stuart: would you be buying any airlines now, hotel companies, cruise lines, travel companies? would you buy any of them now? >> yeah, any pullbacks, i think we will get one soon because of something jonathan hoenig showed earlier. little bit too much bullishness. i think they're going higher and some of these stocks are still
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down 50% to 60% from their normalized highs. i think there's some room to go here as we move forward and especially when we start hearing the fact people are actually getting the vaccine, i think there's only good news to come from that. stuart: talk about a rebound, because you are in florida. sometimes you have acted as our florida reporter. florida is open for business. how's it going? >> you know, doing great. the governor decided something quite interesting that others aren't doing. he's decided that the people and business can handle their affairs pretty darned well, knowing the circumstances. so wherever i go, people are wearing masks without having to be told, they are socially distancing without having to be told, and you know, numbers are going up just like everywhere else but we are in business and even restaurants that are 100%, they are making decisions okay, we can be 100% but let's start at 50%, maybe 60%, then see how it goes.
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it's just a matter of deciding who is going to run the show. is it we the people or we the government. i must tell you, when i see all these politicians telling people what they have to do or else and we find them doing the opposite, i just think that really does speak for itself and i just think this guy's got it right when it comes to the people leading the way and not the people from the government. stuart: one last one. apart from the masks, does florida feel normal again? >> absolutely. it absolutely feels normal. wherever we go, i was just in the mall the other day and there was a lot of people in there but again, socially distanced. i had to add one other thing. disney world is open, other theme parks are open. i still don't get how california doesn't do that. it's hurting so many people who want to get back to their jobs. i can promise you, disney, universal, they are handling it perfectly. i have been there three times. i have actually sat there just
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to watch what they're doing. just amazing to me how some politicians just don't get it, that business and people can get it right. stuart: have a great weekend, gary. avoid the virus fatigue and have happy holidays, too. see you later. gary kaltbaum. the bell is about to stop ringing and they are about to start trading. very agitated there on the right-hand side of the screen. here we go. 9:30 eastern time on a friday morning and we have opened trading and we are up. not that much. we expected a modest gain and that's exactly what we've got. about .25% up for the dow industrials. the s&p 500 also on the upside but only just. looking at a very fractional gain there. and the nasdaq composite, same story. a modest gain for the s&p and for the nasdaq. got that. now, there's the s&p. modest gain. can you show us the nasdaq real fast? let's see if we got that. yes, we do. modest gain. modest, i keep using that word, don't i? little bit of green all over.
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show me the vaccine makers, please. they are a mixed bag. j & j, astrazeneca both up. the others not moving that much. that is the vaccine people. now, here's the big story about the cinema business. i think they're in deep, deep trouble. warner brothers is taking this hybrid approach for all new releases next year. how does that work, lauren? i think it kills the cinemas. you tell us about it. lauren: i think you're right. the entire 2021 slate of movies, matrix 4, godzilla versus king, will be in theaters and streaming on hbo max at the same time. this is the most drastic step yet in eliminating that exclusivity theaters rely on for attendance and profitability. amc is the largest movie theater chain. their ceo is condemning this move, saying quote, warner media intends to sacrifice a considerable portion of the profitability of its movie
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studio division and that of its production partners and film makers to subsidize its hbo max startup, which by the way costs $15 a month. you know taking the kids and grandkids to the movies costs a lot more than that. you know, the question is, is this a temporary move to get us through the pandemic, but can you put the toothpaste back in the tube in say 2022, when there's a vaccine and people can go to the movies again? can you really change the setup after you have gotten people used to the fact well, this new movie's coming out, should i buy a ticket to see it in the theater or just watch it with family at home, it's easier. stuart: exactly. can you put the toothpaste back in the tube. the answer is no, or with great difficulty. put it like that. okay. let's move on. what have we got? all right. let's go on to uber. that is interesting. what's this about uber, asking their drivers to get priority -- susan: they want their drivers
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and delivery people to be labeled as essential so they might get the early access to vaccines, so uber writing a letter to the cdc saying their drivers are critical. now, if you think about it, have you looked at uber's stock lately? remember, this is close to a record high. we haven't seen it pass $45 which was the ipo offer price but look, uber is getting more bullish calls from analysts because they are trying to get to profitability as they have promised for next year. they are going to sell off their air taxis, they are looking to sell off their self-driving and that has wall street enthused. stuart: okay. uber, $53 a share. you know, i remember not too long ago it was languishing in the low 30s. susan: that's right. way below the ipo price of 45. now we are near record levels. stuart: we will take it, i'm sure. how about tesla? there's a stock, up over 600% this year. susan: that's all. stuart: and a tesla short seller is now admitting his pain. susan: oh, yeah.
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jim chanos, the famed short seller who called out enron now waving the white flag, calling his five-year bet against tesla painful. as a result, he's reduced his short bets from 5%. still has a little bit left, he says. he says for the first four years, it wasn't a bad trade to short tesla but in the past year, has killed the shorts with a 700% rally. by the way, tesla set to enter the s&p 500 in just a few weeks. sixth largest company on the broader index when it debuts, largest ever added and elon musk, second richest on the planet, guess how much he's worth? stuart: $139 billion? susan: not bad, right? thanks for reading off my script. chanos says he's never actually met elon musk and says if i had something to say to him, job well done. stuart: $139 billion. one more for you, the big movers this morning, early going, four minutes in. susan: walgreens higher this morning. we have options activity betting the company will eventually be
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bought up by a large private equity group, kkr. monster valuation, worth as much as $55 billion last report. there are concerns that traditional pharmacies are going to get killed, especially as amazon continues to raise their game when it comes to amazon delivery of say pills and pharmaceuticals, et cetera. take a look at dish. i want to show you dish, because it's also down a little bit on the warner brothers news but also getting a down grailed fgr guggenheim from buy to neutral. they are disappointed no one bought dish yet. that was the talk, once they had that merger confirmed. carvana is worth 30% more, called a buy, and they say it's a disruptor. that's a shiny new model that's streaking past competition when it comes to used cars. we know used cars are in high demand this year, record growth, right, in used car prices. they are saying carvana is worth $300. stuart: real fast point. you brought us docusign earlier. did you know docusign is now
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worth more than walgreens? susan: look at you. full of information. tripling this year. stuart: worth more than walgreens. susan: yes. stuart: all right. thanks very much, susan. what have we got on oil? let's see the price. the best price, the highest price, that is, since march 5th. there's a comeback story there. meanwhile, the national average for a gallon of gas still right down there, just $2.16 per gallon. cheapest still, missouri, $1.81. most expensive still california, $3.18. coming up, we are talking with stephen shork all about cheap energy as we head into the winter. the "new york post" calling out democrat leaders who have broken their own rules. it's do as i say, not as i do. the "post" is right. we will tell you why. but that's not stopping california from trying to cancel everything. roll tape. >> don't host that gathering, don't attend a gathering.
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it's time to cancel everything. stuart: former "new york times" reporter alex behrenson takes that on. he's coming up shortly on this program, today. ♪ geico makes the claims process so easy... ...i can file and manage my claim, all on the geico app. it's not just easy. it's giving-your-dog -your-fitness-tracker easy. oh, good boy. yes, you got it! woo! already got my 40,000 steps today... can i get a what what! no pain, no gain! haha...
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and families who need it most. give now to grant wishes today. stuart: we would like to run through a few markets for you. the yield on the ten-year treasury getting awfully close to 1%. you are at .95% right now. susan: been awhile. stuart: it sure has. i can't remember the last time it was at 1%. the price of gold picking up a bit more steam this morning. almost at $1,850 per ounce. but look at bitcoin. really way down, down 1.5%. actually early this morning, it was below $19,000. what's wrong with bitcoin?
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susan: there's concern about regulation, especially in a white house transition with a new treasury and financial administration coming in and whether or not they need you to disclose everything that you use bitcoin for. think about it. think about the transactions that you use online, say if you trade bitcoin or sell, what if i used bitcoin to buy something online, do i need to provide documentation for each and every transaction? that's concerning a lot of financial advisers and those buying -- stuart: you're saying there could be some capital gains tax due on the bitcoin profits that you may or may not have made this year. susan: yeah. stuart: i'm more interested in regulations coming down the pike from the new administration. susan: right. stuart: i don't think they like kr cryptos, do they? susan: we learned that with facebook and libra. look, i think even now, even in our tax forms, we have to declare whether or not we own, buy or sell bitcoin. i think it's only going to get more investigative --
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stuart: a paper trail. i don't know this market, obviously. if i get a bitcoin, is there a paper trail? susan: absolutely. i mean, if you buy on paypal. stuart: does that paper trail go to the irs? susan: i assume your accountant will have to ask for documentation or proof of ownership of bitcoin and cryptocurrency. stuart: that's the link, isn't it? if you buy and sell a stock at a profit or loss, you get word of that from your broker and also, that goes to the irs. so the irs knows what you're doing with stocks. it doesn't automatically know what you're doing with bitcoin. susan: you get e-mails from paypal or square or robin hood, whatever platform you use to buy and sell bitcoin, it does give you an e-mail saying you have purchased this much for this much. stuart: that's a paper trail. i just want to know if the irs gets that same piece of paper. that's what i want to know. susan: good question. stuart: we will check on that one. thanks, susan. former fed chair janet yellen is joe biden's pick for the treasury secretary. danielle dimartino booth is with us this morning. danielle does not think that
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yellen is a good pick for the treasury. tell us what you think is wrong with janet yellen at the treasury. >> well, there's a little bit of history but you and i can do history. we go back a ways. in 1977, the federal reserve act was reopened, it was during the carter administration. it was a very dark time in the history of the u.s. labor market. and they conveyed upon the fed the second mandate of maximizing employment. that led to a period of rampant inflation in u.s. history and where we are today, today we have 4.7 million permanently unemployed americans as of this morning and we have seen the number of those that are working -- that are off the payroll for 27 weeks or longer, if you will, the long-term unemployed rise to 3.9 million. there's a lot of momentum to try and get money directly into the hands of americans who are in need and the most elegant way to
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do that is to reopen the federal reserve act and allow for the direct monetization of the debt that the federal reserve is buying treasuries directly from the u.s. government. that would provide a means by which to have quote unquote, helicopter money delivering it directly to the people, yellen in her address just a few days ago said she was determined to close the inequality divide and i could see her, she can cross both sides of the aisle, as being able to do this, especially if we don't get out that georgia vote. we've got a blue wave that's risen in the past few days from a 22% probability to a 30% probability based on doubt of getting those voters out in georgia. stuart: i didn't know that. tell me that statistic again about the georgia election. there's a -- tell me again. that's very important for the market. go. >> absolutely. i think that that's why we have seen bond yield as you were just saying to susan move up. again, you cannot question the
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integrity of polling in america and then expect for the people who are questioning that to turn out in the same numbers. i don't follow polls but i do follow predicting which is much more vague, where you are putting your money. we have risen from 22% to 30% probability that we are going to have at least one of those seats flip to the democrats in the senate. one seat would have kamala harris doing the tie-breaking vote, two seats would give them a plain majority and then you would really be able to see a lot of the legislation i think a labor economist, uc berkeley trained labor economist, yellen would like to see a lot of this legislation passed but allow us to impose some form of light socialism in america which of course, i'm opposed to. stuart: so am i. you've got us all worried there. >> it is what it is, stuart. stuart: we appreciate that. we always do. danielle dimartino booth, see you again soon. thanks very much. >> thank you. stuart: how about door dash?
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we have talked a lot about them recently. their ipo, that means selling shares that you can invest in if you wish, the ipo is imminent. susan: for the very first time, it seems like. they are doing so well and there is so much interest from investors on their road show for their ipo that they are now raising their price target and their range, they are going to offer 33 million shares at $90 to $95. that values door dash at about $30 billion which would be roughly almost twice as much as the amount of cash they raised in the last private rounds of fund-raising. that's impressive, in just a few months, you doubled your valuation. $90 to $95 is up from the previous price range they had given in a regulatory filing of $75 to $85. i can tell you that there is a lot of interest and this ipo seems to be imminent. we do know that door dash made a surprise profit in the second quarter of this year. that's rare in unicorn space. and they are growing their sales by 267%.
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i guess wall street likes these type of numbers when that listing is announced probably in the next few days -- stuart: the pandemic changed everything. all these new companies which i never heard of and all of a sudden they are boworth billion of dollars. susan: food delivery has doubled and tripled during the pandemic. stuart: i'm going to jump on board. i have to have a pizza delivered or something crazy. why not. susan: you can do that now. stuart: i could, yes. listen to this, sports fans. wuhan, the city in china where the virus originated, is trying to woo back tourists with a new ad. you are looking at it right now. we'll have the story. still ahead, former notre dame football coach lou holtz received the medal of freedom at the white house. watch this. >> i want to assure you how proud i am. none of these other awards i have been prouder to receive
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than [ inaudible ]. stuart: did you catch that? president trump is the greatest president in his lifetime. he said it. lou holtz will join us in our next hour. he will tell us what the next big thing for him will be. we'll be back. ♪ now is the time for a new bath from bath fitter.
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get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: here's something we never quoted on this show before, i don't think. natural gas. i'm not sure what the measurement unit is but 2.54. i know for a fact that is very, very cheap natural gas. on that note, want to bring in stephen shork, our energy guy. am i right, 2.54 whatever is dirt cheap natural gas? i think we are going to have real cheap energy this winter. am i right? >> you are absolutely right, stu. 2.5 natural gas equates to 16, 17 barrel oil equivalent. clearly, yes, natural gas is extremely cheap. now, when it comes to this
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winter heating market in the united states is bifurcated to an extent. 70% to 75% of the homes that heat with heating oil are in the mid-atlantic/new england market area. those prices will be very comfortable this winter because your heating oil distributor had all summer to lock in prices with crude oil in that $20, $30, $40 range as opposed to last summer when they were locking in for last winter when crude oil prices were above $50 a barrel. your markets in the south, midwest and west whose majority heat with natural gas and to a lesser extent, propane, will also benefit. this is regulated prices but your businesses that do trade in the day ahead market are looking at very cheap energy costs through the rest of this winter and into next summer. stuart: okay. that's heating oil, nat gas. now, oil today hit i think, what, $46 a barrel, highest
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level since march. $46.09. i don't expect to be paying much more than $2 a gallon for gasoline this winter. what do you say? >> absolutely. it's two-fold. first and foremost to your point, of course, crude oil prices are the biggest driver to gasoline prices, and while we have had a nice rally up in crude oil, there is a limit to how high we can go, and we are now in the winter so we do manufacture winter grade gasoline that's much cheaper for the refiner, cheap to manufacture and hence the cost is lower and the cost to the consumer will be lower. just want to point out, though, that on the brent crude oil market, which is a benchmark for the global market, we are sitting at a record short position, that is to say big traders on wall street are oversold this market to a record extent, so if we do see any sort of further uptick, we do run the risk of a short squeeze as wall street begins to cover their position. so in the near term, we could see a seven-spike in crude oil
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prices. that will be manufactured by speculative trading and what goes up, comes down. i just want to point that out. stuart: i'm glad you did. the basis of this interview is cheap energy in america this winter. great news. thank you very much indeed. see you soon. >> thank you, stuart. stuart: we will see if we can regularly quote the price of nat gas. susan: decatherm. stuart: larry kudlow, nigel farage, bob doll, kayleigh mcenany all on the show today. before they get on the air, you will hear my take on what i call pandemic fatigue. i know i've got it. i think you do, too. susan's resilient. back with more after this. ♪
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♪ stuart: you knew this song before we even put the title up on the screen. what is it again? susan: inxs. right? stuart: better put it up on the screen to confirm that. susan: it's up there. stuart: okay. all right. it is friday. we are very fortunate to say that. we are relieved to say it. this is the second hour of "varney & company." here's what we have for you. peter morici, larry kudlow, lou holtz. president trump awarded him the
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medal of freedom just yesterday. later this hour, nigel farage. there's a lineup for the 10:00 show. in our next hour, 11:00, bob doll, lawrence jones, steve hilton, kayleigh mcenany. what a show. all right. now show me the market this friday morning. we are a half hour into the trading session. some green right there, better than red. we are up 94 points on the dow. 30,063. 30,000. come on. let's have a look at that. s&p up 15, the nasdaq up 45. that is a, i'm going to use the word again, modest rally this friday morning. vaccine makers, put them up there, please. pfizer is slashing its original vaccine shipment. they are facing supply chain problems. moderna says its vaccine has the potential to support longer term immunity. all of them on the downside. now, we've got the latest numbers on factory orders. important indicator for the economy. what have we got on that, lauren? lauren: they rose better than
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expected 1%. this is backward-looking. this is for the month of october. but it was a stronger report. september's numbers were also revised even higher. the administration continues to tout the strength of the manufacturing sector so in september, in october, more new orders coming in for manufactured goods like cars and electronics. stuart: okay. didn't make much difference to the market. we've still got again, i'm going to use that word, we still have that modest rally. all right. put me on camera. there we go. we have a modest rally for the dow industrials, the nasdaq and the s&p. now this. fresh from a subdued thanksgiving, many of us are now faced with a new round of restrictions. america i believe has a bad case of pandemic fatigue. lockdown fatigue. stay-at-home fatigue. call it what you like. but we collectively, i think we are fed up with this. we are fed up with restrictions that make little sense.
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for example, there's no evidence that eating outside at a restaurant spreads the virus, yet california is about to ban it. we are fed up with patchwork quilt restrictions. on staten island, a restaurant owner who tried to stay open was arrested, fined and ruined while just a quarter mile away, in a different zone, restaurants are open. does the pandemic stop at the edge of the zone? we are fed up with having nothing to do. this weekend, many of us can't go the a sporting event or the movies or a concert. shopping is restricted. in much of the country, it's cold so you don't want to eat outside. how about socializing? just holding a conversation with friends or neighbors, masks have a chilling effect on conversation. you can't communicate with your face covered. we are fed up with the unfairness of it all. walmart is open but main street is not. what a shame. hanukkah and christmas are coming, a time of celebration, yet the mood is bleak, subdued. i think we are also getting
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feisty, frankly, as you will see throughout our program, revolt is in the air. we are responsible people who no longer trust our irresponsible leaders. if a bar owner can be arrested for trying to stay open, then the rule makers who break their own rules should resign. that's what i think. this is the second hour of "varney & company." stuart: look who is here. that gentleman is alex behrenson, author of a fine book, "unreported truths" and our guest this morning. looks like we are in for a wave of lockdowns, mask wearing, well into the spring. you think we're on the right track? >> no, i don't think we're on the right track. i think you summed up the issues very nicely. i also think you are correct, there is a lot of fatigue, frustration, anger, you can use whatever word you like, whether
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it's about california shutting down again, whether it's about these mask requirements. my newest unreported truths which is about masks has stirred a lot of controversy because the public health establishment has pushed for months this idea if we just all wore masks, everything would be much better. at one point the cdc director said oh, masks are going to be more effective than a vaccine or might be more effective than a vaccine and frankly, that's just not true, as i go into in this book. i go into the evidence around this. and people are frustrated. they are frustrated with restrictions that don't seem to make any sense, whether that's outdoor dining, you know, in los angeles, whether that's mask wearing, whether that's closing playgrounds and keeping malls open. people are tired and they don't understand why it is that they are being told, you know, to do these things that don't really seem to go anywhere. i think you are completely right. stuart: am i mistaken here, i thought amazon took your book on
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masks or your pamphlet on masks, took it down, blocked it. >> no, you are correct about that. i have written three of these booklets. amazon censored the first one. the second one which was about -- then they relented. the second one about lockdowns they allowed through. the third one about masks they attempted to censor again, apparently saying anything negative about masks is not allowed, then they relented again. you know, this is an even bigger problem. the censorship that big tech is now pushing and that actually frankly some of the non-fox media are pushing about not allowing sort of unapproved narratives or, you know, honest debate, discussion, points of view they don't like. this is a problem that is even bigger than covid. it is going to outlast covid. we need to talk about it. i think we are in a dangerous place if people aren't allowed to have honest debate. stuart: well said. well said. let's have an honest debate about reopening the schools. i have been pounding the table that we must reopen the schools. virtual learning is not working.
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you don't get this in the schools. are you with me on this? open them up. it's the first priority. get those schools open. >> yes. and it shouldn't matter how many, you know, cases there are in the community because schools don't really contribute to community spread, and children are at next to no risk from this. we know that. yes, are there going to be some teachers who are at higher risk, yes. but unless those teachers are never going to go outside and frankly, even in that case they can still get sick, they are going to be at more risk from shopping at walmart than teaching in school. it is disgusting the way the teachers unions have played this game and it is disgusting that the media hasn't pushed back on this. stuart: didn't you used to work for the "new york times"? >> i did. for ten years. and you know, that was from 1999 to 2010. i think the "times" was a different environment then. unfortunately, there's an orthodoxy now, not that i was conservative, you look at the stories i wrote for the "new york times," they were mostly
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investigations of big companies, but there was not the same orthodoxy then that there is now. stuart: wonder what they think of you now. but i won't ask. >> i don't think we can say it on air. stuart: probably not. all right. alex, a pleasure to have you on our program. don't be a stranger. this is your first time on the air with us and we hope to have you back, too. thanks. >> i will be back. thanks, stuart. stuart: you got it. thanks. all right. do you know, lauren, i will ask you this question, lauren, do you know of any school districts that might make the vaccine mandatory? anybody? lauren: this is a good question. so miami. the superintendent there is considering it, making it mandatory for all students. he's currently talking right now with the medical experts, with parents. he says parents are 50-50. 50% open to it, 50% say no way. look at the logistics here. the earliest a vaccine would even be available to kids is fall of '21 so next school year. pfizer began testing it on
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teenagers. that was in october. moderna hasn't even started yet. we are a long way off. and no one has looked into young children yet. so there's a lot of variables here. it depends on the state, the allocation that the state gets and of course, the temperament of the parent. every year, you get from your school did your kid get this vaccine or this vaccine. in many states, massachusetts is the only state in the nation that requires the influenza vaccine for kids k through 12, then those for college. there are different rules where you live. stuart: that's right. my grandchildren in massachusetts are at school and they had to have the flu shot before they were allowed into the school. whether that lays down the law on the covid vaccine, that's another story because that's a different level, i would suspect. there's going to be a fight. that's the way it is. all right, lauren. thank you. lauren: a big one. stuart: you got it right. check that market. we are still up 120 on the dow, 30,092. that's where we are.
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we had, what, just 245,000 jobs added last month. that's not a big number. peter morici is with us now. peter, i don't think that's a very good number. 245,000 jobs. it looks to me like the labor market, the jobs market, is cooling. what say you? >> it's cooling, it's cooling much more rapidly than we expected. people are leaving the labor force. the participation rate is falling and the numbers of people that are structurally unemployed, that have very little prospect of finding work again or work again in the next couple years has risen significantly. we are in a lot of trouble and congress needs to move and move more rapidly. stuart: what happens if they don't move rapidly? >> well, we are in danger of a second dip. stuart: a dip, what do you mean? recession? recession or -- >> it could -- well, we could see the economy contract in the winter if they don't move. i'm not saying it's going to happen but it's something that could happen. certainly we are not going to
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have the jobs growth we want. people are not going to recover as folks would like. stuart: this participation rate, down to, what, is it 61? i didn't see the precise reading. i know it's gone down. does that mean that a lot of those people who were employed in january, february and march are just no longer in the work force, maybe they have retired or walked away from work completely? is that what it means? >> well, there is some of that. there are some people that have retired sooner than they expected. there's some people that just can't work in this environment. mothers that can't get child care because schools are closed. they had to stay at home so they can't look for work. there are some people that are afraid because of the virus, because of the fear tactics of the democratic mayors and all of that. there's some of that. there's some people who are just so discouraged or the opportunities they might have are so poor that they have quit all together. when you look at the jobless rate of people that have been unemployed more than, say, you know, three months or six months, that grossly
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underestimates the structural unemployment that we have. we don't need just stimulus. we need that right away. we don't need more pay for teachers. we need more money for the unemployed. but we also need to start looking very seriously at retraining people to move them around. movie theaters are closed forever. the guy that ran the projector is not coming back. when warner decides that, you know, it's not going -- it's going to stream its first run movies at the same time as it has them in the theaters, don't count on a lot of popcorn getting sold. same thing with airline pilots, engineers, the list goes on. they can do other things, but they need to be retrained and they need to have help in moving. stuart: okay. let's see how that works out. rather a bleak picture is the way i see things. >> sorry to be that way. this wasn't a good report. stuart: you're right. >> get off the dime, congress. stuart: we have larry kudlow coming up shortly. i'm sure he will disagree with you but we will put that question. thanks for joining us.
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see you again soon. thanks. let's see now. we have, with the vaccine on the way, cities are looking for new ways to persuade tourists to visit, including wuhan, china, where the virus was first reported. they are releasing a new travel campaign with an ad. there it is on your screens. next case. former president obama saying black men are susceptible to trump's macho style. watch this. >> i think men generally are more susceptible to public figures who act tough, sort of the stereotypical macho style. i don't think black men are immune to that any more than white or hispanic men are. stuart: all right. let's see what leo terrell makes of that. he's on the show shortly. also ahead, top white house economic guy larry kudlow. yes, this is the second hour of "varney & company" just rolling along for you on a friday morning. ♪
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it shortens colds! 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.
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stuartst:ll right.t. e's plent plelefle green g g gg e dow i i1301313131313pots, e, aqs up 42.. yes, iis i a rlyly and ahe a do eachedeachchch30,10030. i'm going to show you the airlines, then the cruise lines. of course, they always respond to the latest vaccine news or the economic news. they are up, down, down, up. susan: downgrade this morning, though. stuart: yeah, right. that's taken 1% off of a few of them. american slightly higher. the cruise lines, i don't think anybody's downgraded or upgraded them. they have kind of forgotten
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about them. it's a mixed bag this morning. they still move very very sharply. look, in just a moment we've got larry kudlow coming up for us. until then, i want to talk stimulus. i want susan to give us the latest on the stimulus negotiations. one more time. susan: the hopes of stimulus is the reason we moved up this week and on this friday, especially after that jobs report disappointed. we also had a conversation between house speaker nancy pelosi and senate leader mitch mcconnell yesterday, and people on wall street are thinking that yes, we are inching closer to a potential deal, especially as the clock ticks on this legislative session. we just have a few weeks left. democratic leaders including biden, pelosi, schumer have all said that a $900 billion bipartisan senate stimulus push is a good starting point. now, something mcconnell, though, hasn't publicly endorsed. so that might be a sticking point. we know mcconnell himself has a $500 billion push out there with $300 billion already in the bank but you think we will actually
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get to some sort of stimulus deal? stuart: i think so, yes. susan: why do you think that? stuart: politicians cannot resist the temptation to spend taxpayer money. especially when you've got this virus threat to people. look, one week from today, those emergency payments run out. susan: that's right. unemployment benefits. eviction relief. student loan deferment. stuart: the political pressure, do something, is going to be astronomically strong. speaking of which, look who's here. larry kudlow joins us now. national economic council director. larry, it's always great to see you. you know what i want to talk about, obviously. the jobs report. here's what i'm going to say. that 245,000 new jobs last month shows that the labor market is cooling, that the economy is slowing, perhaps because of the second wave of the virus, but it is slowing, it's cooling. what do you say? >> i'm really not there. the jobs report may have come in a little less than expectations but first of all, you've got a 6.7% unemployment which is
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something like cbo and other institutions said we wouldn't get to single digits until well into 2021. 6.7%. i want to point out two things. private employment in the household survey was up nearly 500,000. you've got distortions with government, schools shutting down and other related matters. but private household employment up nearly 500,000. that's a big number. unemployment fell the largest among the minority groups. want to emphasize that. african americans, hispanics, asians and although women are not a minority group, they are a majority group, they had a very significant unemployment decline. so i don't think it was such a bad number. i know there's hardship left, don't get me wrong. ten million people or so are still unemployed. i'm not making that case. but -- stuart: i'm not saying it's a bad report, larry. >> put it in context, stuart.
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stuart: i'm putting it in the context of a slowing economy. because what government is doing in this space with these lockdowns and restrictions. >> well, look, there is some of that. okay, i grant you that. we always advocate, president trump has always advocated keeping businesses open and keeping schools open. that's very important. all right. that's a good point. but let me just add, when you look at the whole economic landscape, i would say it's still very strong and i would say it's still a v-shaped recovery. you look at housing, there's a boom going on. in fact, mortgage applications for new home purchases are soaring by i think 25% plus. consumer spending is very strong. automobile spending is very strong. we are seeing now durable goods orders, capex call it business investment, equipment, so forth, very strong coming on. inventories still are very low and will have to be rebuilt. we are just seeing a tiny bit of
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that. the atlanta fed gdp now, their number is at 11%, their number, not ours. it fleekreflects that kind of strength. i don't think the jobs numbers are the end-all, be-all. we have seen huge drops in continuing claims and even pandemic emergency claims. so you know, i just don't buy it. i think we are way ahead of expectations and i think the economy is still fundamentally sound with tax cuts and rollback of regulations and better trade policies instituted by president donald trump. i think it's still very strong. stuart: what happens next year when a new administration walks in the door? what happens when we are all wearing masks for 100 days after the inauguration, when various states are locking down all over the place? we haven't got the vaccine fully installed in people until may, june, maybe. what happens next year? all this pandemic could really slow things down next year,
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right? >> it could. it could. let me first of all, let me say i wish the new administration luck. if there's a new administration. i don't know that yet. i just want to make that caveat. president trump is still fighting away for a legal vote count. now, i disagree with the shutdowns, absolutely. i think that would be very bad medicine. i do agree, however, that in the weeks and months ahead, people should be masking and distancing and good hygiene habits and testing where necessary. they should avoid large crowds. that's the advice of our experts. i think it's very important that people follow those guidelines. finally, help ois on the way. you are going to have, according to our experts, we had the vice president's covid task force meeting this week, should get 20 million vaccines by the end of
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december. that number moves to 40 million in january, on the way to 100 million in late march or april. those are gigantic numbers. help is on the way. there will be covid spikes during the holidays. that's why people have to abide by the guidelines. i do not think it requires a shutdown. absolutely not. we have targeted areas and we know how to handle that, and again, the vaccines are starting soon. so i agree with you there. there are risks, if this is mishandled it will damage the economy. by the way, it will damage the health of american citizens. stuart: in 30 seconds, would you tell us if you support the revolt against the lockdowns of restaurants, bars, gyms, stores, et cetera? do you have any sympathy, any feeling of you're with the revolting, the people who are in revolt? >> i have a lot of sympathy with it. i spent my whole professional
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life arguing for freedom, economic freedom, constitutional freedoms, freedom of speech and religion, yes. i think the schools should be open. those kids, if they get it, they are not hurt by it and the percentage is tiny. i think the businesses should stay open with help and security measures. i think some of the states and localities that are shutting down are wrong. i think it's bad economics but i don't think it's good health policy. it's not good public health policy. we have seen study after study of the psychological problems, addiction problems, parents can't go to work, got to stay home with their kids. it's the wrong approach. maybe last winter and spring, no more. we have learned a lot how to deal with targets. incidentally, while we're talking, the reports are the
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rockies and great plains areas are coming down. there's issues in the sun belt, i get that. there's issues in the two coastlines, i get that. we know how to deal with that. don't take it out on the kids. don't take it out on the businesses. just abide by the guidelines. masking and distancing and hygiene and so forth, and help ois the way. the vaccines will be available. it is a miracle. president trump's warp speed program, it was a miracle how we have gotten to this and the economy is still in a v-shaped recovery. stuart: got to leave it there. for all your days in broadcasting you know when you are coming up on a hard break, you are coming up on a hard break. you got to end it. i'm on a hard break right there. hope to see you for a long time in the future, larry. >> you will. i want to wish you merry christmas, happy seasons and all the rest. you have been great, stu. stuart: to you and yours. thanks, larry. see you soon. thanks. the legendary football coach lou holtz called mr. trump one of the greatest presidents ever after being awarded the medal of
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president trump is going to hold a rally tomorrow for the republican senate candidates there. leo terrell is with us now, civil rights attorney. leo, will president trump going to georgia help or hurt republicans? you know there are some republicans who say not sure we want you down here, mr. president. what's your opinion? >> oh, there's no question. first of all, i'm a trump republican. president trump going to georgia, stu, will help kelly loeffler and david perdue. why? because 74 million people voted for donald trump and donald trump has created a policy and a legacy for the last four years which republican and america does not want changed if the seats go democrat. we don't want aoc. we don't want bernie sanders. donald trump's appearance in georgia is going to be a big boost for both senatorial candidates. stuart: okay. 29% of the georgia vote, electorate, i should say, is black. does that black vote swing the
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senatorial election either way? >> let me think about that. yes. because you know what, stu, i'm going to georgia next week. why? because the trump policies which are supported by loeffler, let's look what trump did for african-americans. school choice, funding historical black colleges, the first step act, the lowest unemployment rate for black americans. i just saw you with larry kudlow. even with these unemployment numbers, black unemployment has dropped and those facts scare the democratic party. they scare obama and biden. know why? because this president received the highest number of black male votes than any other republican. those are facts, not because of color. he made it available for all americans regardless of color. stuart: okay. listen to this one. i'm sure you've seen this but i want to ask you and our audience about this. president obama suggests that president trump's stereotypical macho style appealed to some young black voters. just watch this for a second. roll it.
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>> i think men generally are more susceptible to public figures who act tough, sort of a stereotypical macho style. i don't think black men are immune to that any more than white or hispanic men are. stuart: 29% of the georgia electorate is black. what do you say to those comments from former president obama? >> thank you for that question. let me be very clear and concise with my words. those comments by the president, former president, not only are insulting but also false. he insults the intelligence of young african-americans and all black americans who voted for trump. i will give you an example. there was a black entertainer, i think the name was ice cube and 50 cent. they were attracted to the trump economic plan. to assume that blacks would be influenced by symbol and not substance, trump attracted black voters because he has policy. the democrats play the race card. that's just an insult to black
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americans and i'm offended because guess what, stu, i have been a life-long democrat until this year. why? because i was attracted to the trump policies. i'm just sick and tired of the democrats playing the race card and trying to dumb down black americans. it's very, very insulting by obama's comments. stuart: tell us how you really feel, leo. put it all out there, lad. i got it, i got it. i'm out of time. you're all right. we'll see you soon. thanks very much. >> thank you. stuart: the market, real fast, please, i think that's a new intraday high for the dow, 30,100 something. i think it's there. s&p also, i think it's an intraday high. i think it is. susan: s&p 500 hit a new all-time high. stuart: that's what i'm looking for. look at that on your screens. not such a modest rally now, isn't it. here's a very interesting story. companies creating new positions to handle all the employees working from home. lauren, what's this about chief remote officers?
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lauren: yeah. head of remote work. we are seeing facebook do this, cora. it's a new role that formalizes how to work from home. listen. >> to really take somebody who has a strong h.r. background, strong understanding of technology, haand has the abili to think outside the box about some of the new issues that are arising now. one such issue is the ability to pick up and work anywhere. lauren: they set the hours, the expectations, what equipment do you need, and protocol. for instance, you have these zoom calls, right. you have to keep your camera on during the call? do you have to wear a certain dress code? and then this question really gets me. should the boss have to telework, too, because if most employees are working from home and the c-suite is still in the office, is that fair? is that equal face time? how many employees, we just got
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the dallas report today, are working from home? labor says 21.8% of employees do telework. glassdoor says job openings for remote work only this year, up 276%. i had a long conversation with facebook yesterday and they said, because they are big into remote work forever, it's all about virtual reality. they can make you feel like you are in the office with their investments in technology, augmented and virtual reality. stuart: fascinating. work from home is here to stay, if you ask me. got it. thanks, lauren. the hypocrisy from the mayor of austin, texas gaining international attention. how about that. he told his city to stay home while he was in cabo san lucas, mexico. laurence jones is going to be with us shortly. he's a texas guy. what does he feel about the mayor of austin. first, lou holtz. what a career. amazing. now he's received the presidential medal of freedom. my question to him is, what's
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next? he's on the show, too. ♪
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today it's my privilege to present our nation's highest civilian honor, the presidential medal of freedom, to one of the
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greatest coaches in american history. the legendary lou holtz, a friend of mine. great gentleman. great man. stuart: that man, lou holtz, is with us now. put him on camera. let's see him. let's see lou holtz. there you go. live shot of lou holtz. lou, you've had a fantastic career in sports and now you have received the presidential medal of freedom. my question is, what's next for a guy like you? >> well, first of all, that's a great question but there's [ inaudible ]. there lies lou holtz, born 1937, died december 3rd, 2020, burr eeed august 18, 2023. i think i mean this sincerely, the freedom of our country, the freedom of us as individuals, only happens when you have the legal right to vote and the vote is counted honestly. right now, this should scare every democrat, every american,
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everybody. let's have fair elections, let's make sure that happens and i want to be involved as best i can on that. you receive the medal of freedom, that doesn't determine my life. my life will be defined by my family, my friends and you receive recognition not because i what i did. they give you the award hopefully so it will inspire other people to take up a cause and to me, this freedom to vote to me is critical right now. i'm also blessed to receive it from a president i respect as much as president trump. stuart: lou, that presidential ceremony yesterday, you called president trump the best president of your lifetime. i was watching. i heard that. the first thing that came to my mind was what about ronald reagan, lou? >> i think ronald reagan was absolutely tremendous. there's no doubt about that. but when you look at what he inherited and the changes he had to make, all the presidential
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documents that they passed, he took and gave it back to the country. he gave this country back to the people, the right to work, the right to bring jobs back here, the right to be middle class. if you don't have middle class jobs, you have absolutely no middle class. i loved reagan but i think you have to look back and say that president trump had a greater influence in the lives of american people. you look at the african-american, you look at the hispanic vote, everybody has improved under him. it's unfortunate with the covid, we hope we get that solved, but that hurt him also. what i'm concerned about, if the vote is fair, great. give it to joe biden. god bless you. let's lead this country. but this is too critical right now. if you can't vote, you have no freedom. you don't control your life. you have no future. stuart: okay. congratulations, lou holtz. terrific career in sports.
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excellent political commentary from you. and the congressional medal of freedom. terrific stuff. presidential medal of freedom, i should say, from president trump. congratulations, lou. always great having you on the show. don't be a stranger in the future. come back soon. >> only when i'm invited. stuart: there will be no shortage of invitations, lou holtz, that's a fact. see you soon. thanks. i'm staying on sports to bring you an item on hockey. some nhl teams are reportedly looking to hold games outdoors. they want to bring back the fans. this is for next season. is that right, lauren? next season? lauren: yeah. they want to do this for next season because they need the revenue. reportedly, four teams, boston bruins, pittsburgh penguins, anaheim ducks and l.a. kings are exploring the possibility. it just has to be really cold outside to have the games outside. i was trying to figure out how los angeles would do that. i would say it's very expensive.
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they put this idea forward a while ago but the teams mostly rejected it. i think now, as the financial situation and the virus has intensified they're looking at the situation, saying we have got to do something to get revenue back. stuart: i think a lot of people are saying exactly the same thing. got it, lauren. thank you very much indeed. now, i've got a story here on go pro. the story is their subscribers are surging. okay. i understand that. i can read the teleprompter. however, i didn't -- i thought go pro was a camera. susan: it is. it also offers subscription to its camera buyers that you can upload your pictures and videos into the cloud, straight from your go pro. we know that we saw record-breaking online sales from black friday to cyber-monday, selling its 40 millionth camera since debut of its first hd model 2009 and on track, they say, for over 700,000 subscribers. remember go pro is a stock that many believe has seen its best days.
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remember back in 2014, high-flying ipo. it sold shares, went public at $24. look at where it's trading now. but you know, some people might take a second look, looking at these subscription numbers, right? stuart: if you can make a market in subscriptions and get some revenue coming in. susan: current revenue, as i taught nu tyou in the past. stuart: thank you very much. thank you. dr. fauci says the brits rushed their covid-19 vaccine approval. could this undermine confidence in britain for the brits when they are asked to take the vaccine? i will ask nigel farage. he's a brit. he's on the show 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,
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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. ♪ susan: you like this song. stuart: any old time you choose it. oh, get me going with that, i tell you. rock and roll music by the beatles. okay. we brought you in with that music because i'm going to put it on the screen, the album, double fantasy, signed by john
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lennon, the night of his assassination. it's up for auction. it will set you back $1.5 million. ken goldin will show it to us on our show in the next hour. $1.5 million for that. then we have dr. anthony fauci now apologizing after criticizing how the brits handled the vaccine. here's what he said. roll tape, please. >> so many of my uk friends, you know, they kind of ran around the corner of the marathon and joined us in the last mile. they really rushed the approval. if we had jumped over the hurdles here quickly and inappropriately to gain an extra week or a week and a half, i think that the credibility of our regulatory process would have been damaged. stuart: well, all right. nigel farage, come on in. good to see you again. now, dr. fauci walked that back and apologized for that, but what's the impact on britain?
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do you think that it will make the brits less likely to take this vaccine? >> dr. fauci said that interestingly also the european medical agency said something pretty similar. what's going on here is the brexit people, who by the way a year ago would have been allowed to make this decision, brexit for once has proved itself to perhaps be less bureaucratic than the united states of america and the european union, and i sense the comments from people like fauci are because they face criticism from the american public, because the brits have got there first. look, of course this vaccine is being produced in record time. we've got our fingers crossed that these trials are correct. but goodness me, don't we need something to get the world moving again properly. stuart: yes, we do. nigel, you've got 60 seconds to tell me and our viewers why you think that bitcoin is the ultimate anti-lockdown
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investment. go. >> okay. so what happened with lockdown? look at my country, the uk. borrowing this year will be 20% of our gross domestic product. we are borrowing vast sums of money, we are finding ever more new means of inventing money, buying our own bonds, all the rest of it. it can't go on. it is debasing currency. it will lead at some point in the future to quite serious inflation. that is why people need, given that there's no interest earned in the bank, to alternative investment. the 2017 boom in bitcoin and other things looked a bit false. this time it's big, solid, real investments putting a small percentage of their money into this and if people don't, they may well miss the boat. this is the ultimate anti-lockdown investment. stuart: you really are a brilliant broadcaster. you can sum up your argument in precisely 55 seconds, then come to a logical conclusion in the
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last five seconds of your minute. brilliant. nigel, come back soon, okay? hope you have a great christmas, too. thanks, nigel farage. thank you. look who else is coming up on the show today. lawrence jones, steve hilton, kayleigh mcenany. plus you'll have my take on the revolt against the lockdowns. yeah, another my take on that. third hour of "varney & company" right after this. ♪ it's been a tough year. and now with q4 wrapping up,
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>> nearly 85% of stocks are abover their 50 and 200-day moving average. the vaccine's doing the trick right now for the market. i think there's some move to go here as we move forward. it's just a matter of deciding who is going to run the show. is it we, the people, or we, the government. >> people are tired and they don't understand why it is they're being told, you know, to do these things that don't really seem to go anywhere. >> if you spoke about a pandemic fatigue, right? what it really is a fatigue of, it's hypocrisy fatigue. lockdowns are not the answer. that does not help. it makes things worse effectively. >> when you look at the whole
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economic landscape, i would say it's still very strong, and i would say it's a recovery. there will be covid spikes during the holidays, and that's why people have to abide by the guidelines. i do not think it requires a shutdown. ♪ ♪ stuart: you don't know. you with do not know it. it's a modern song. did you know it was chris jansen? come on, susan, please. 11:01 eastern time here on the east coast. we're in new york city. that's the fox square christmas tree, and i think it's absolutely beautiful. oh, you've got to look at the markets. records all across the board here. west virginia got i -- west virginia got, i think -- weave got, i think the technical world is intraday highs, up nearly 200 points for the dow, 30,900. nasdaq up -- 30,100.
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>> on pace for a record close for the dow, nasdaq and s&p on a friday. stuart: intraday high. let's be technical, shall we? all right, everyone, now this. dave morris is a restaurant owner in michigan. he just happened to walk past a live news report, and he felt compelledded to put in his two cents worth of revolt. watch this. >> my government leaders have abandoned me. >> are you, are you the owner? >> $4 trillion of stimulus money, and they gave it to who? special interest groups and campaign donors. wake up, stand up! this is america, be free. give us the money to shut this thing down and calm this virus, but don't take it out on small business. stuart: and then he told tucker carlson last night we've got to come out fighting. strong words. all week long we've brought you stories of lockdown resistance
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and defiance. the revolt is growing. los angeles county's sheriff will not enforce l.a.'s soon-expected stay at home order. he won't shut down businesses. he says, quote, they've had the rug yanked out from under them. that's a disservice. i don't want to make them more miserableened quote from the sheriff. pasadena will allow outdoor dining, deifying the ban. beverly hills demands the withdrawal of all restrictions. weld county, colorado, defying closure rules. in michigan and ohio, republicans are trying to impeach or their governors over their response to the virus. resistance is popping up all over, and what happens after inauguration day when joe biden will ask us all to wear masks for 100 days? not everyone's going to do it. more division. look at this though. 2,879 people died from the virus yesterday. that's a record high.
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217,000 new cases. 100,000 in the hospital. new lockdowns are the response to those numbers, and revolt is the response to new restrictions. it's getting ugly. and remember this, we won't get mass vaccinations until the spring of next year. the third hour of "varney & company" is about to begin. ♪ ♪ stuart: all right, let's get back to money. record highs all across the board this morning. it seems to me that everybody on wall street, the big investment firms, for sure, are all bullish. i sometimes gets worried when everybody else is really, really bullish. so let's bring in bob doll. he knows a thing or two about wall street and managing money. does this universal bullishnesses concern you? >> it has to somewhat at some point, stuart.
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look, the overriding trend is don't fought the fed and don't fight the talk about. that's why you're seeing the bullishnesses, and it's working. but we're at the high 10% for investors' intelligence, for put call ratios, things that measure the sentiment you're talking about. and historically when we get there, at some point -- maybe not until after the first of the year -- we'll have some sort of a pullback/consolidation. it's due because we've gone straight up, or stuart. stuart: but what about the entire few deof next year? actual -- entirety of next year? actually, let me reverse this. the big deal for me, the fly in the ointment, so to speak, is the georgia senate races. if the democrats take both seats, i'm going to start selling stocks. what do you say to that in. >> i can't disagree with that logic. i think most of us, myself included, are assuming the republicans are going to win at least one of those, if not both those seats. if it's an 0-2 for the
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republicans, then were to get the playbook back out because while we do have some moderate democrats that will prevent some of the real extreme stuff, it's still 50 plus the vice president, and the democrats can got a bunch more market-questionable type things done. if so i think the mainline assumption allows the market go higher, but you throw in a monkey wrench that's not very pleasant. stuart: is this hongest running bull -- longest running bull market that you can remember? i think this is now going into its 12th year. i don't remember a 12-year bull market before. maybe you do but i don't. what do you say? >> depends how you measure it. most people call the 35% decline we had last year as a bear market, and we're in some sort of at least new cyclical bear market. i think it will go in the history marks as just a nasty, nasty correction which then makes you correct, a long bull market. does that mean it's long in the
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tooth? not necessarily because because of the recession we restarted a lot of engines, and, for example, next year boeing to get -- going to get good earnings growth. stuart: bob, i end hop you have a wonderful holiday period. >> ditto, my friend, thank you. stuart: you got it. texas, why not? bars in the dallas/fort worth area have been ordered to close, stores, office buildings must are educe capacity. reduce capacity. and this comes after the mayor of austin, texas, was caught telling people to stay home, told them to stay home from the his hotel room in mexico. i wonder what lawrence jones thinks about this. he's a texas guy. [laughter] he's not smiling. look, between the lockdowns and the hypocrisy, do you think we're going to' some revolt in -- see some revolt in texas? >> oh, the revolt started months ago.
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i mean, it's just not the leaders abiding by the same rules that that they create, it's the fact that many of these businesses are just being crushed. we were told 15 days to slow the spread. and, you know, a lot of people that are libertarians like me always said that these people were going to play by different rules, but we also said that this shutdown was going to be loaner that they projected -- longer that they projected. the bottom line is this shutdown is not going to go away until we get the advantage seen. and when i said that when we first got the shutdown, people said that we were fear mongering. but those are the facts right now. we won't see an end to all of this until we get the vaccine, and i think that's just sad. these businesses can't take it. stuart, no they can't, because we're not all going to be inoculated until the late spring of next year. you're talking four or five months away. i don't think this economy can take a round of shutdowns, a round of business failures,
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whole industries going under. i just don't see that. i just -- there is one possibility, and that is that congress comes through with a $3 or 4 trillion rescue -- >> yeah. and i have absolutely no faith in them to get that done. the fact is that the democrats used this as an election issue for them. they didn't want to win but the president -- you know, i'm a nonpartisan guy. i don't think it was going to be a win for anybody. it's a win for the american people. the fact that they chose that. the election is over, they just can't get it done, they don't want to compromise on it. and it's literally spitting in the face of americans. when you told them they had to shut down, you told this many they couldn't go back to work, you know, stuart, this issue frustrates me more than any other issue because these aren't hazy people. stuart: right. >> these are people that have worked their entire life, that have never work looked to the government for a handout, and
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they told them to shut down. and now they won't even help these people. and they keep going back and forth on the science. you know, there is this whole debate about the masks, and, you know, i wear my mask, i do what i need to do to be responsible. but early on, stuart, they told people don't wear masks. that it wasn't going to be helpful. now we know it is helpful, and it just begs the question was it a science thing, or were they just trying to hoard the masks for medical professionals? and if that's true, they should have told people that from the very beginning. so as a libertarian like me, it has made me even more suspect call of government. stuart: would you open up, flat out open up all the states, open up businesses, schools? okay, wear a passing, wash your hands -- mask, wash your hands, keep social distance. you do those three things, but would you open up? lawrence jones. >> i would open up immediately. i would have never shut down to
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begin with. stuart: yeah, me too. >> as americans we have to be responsible. protect grand ma and grandpa. protect the absolutely number. social distance. make sure that you're responsible. bought the end of the day, americans -- but at the end of the day, americans should be able to choose their own fate. the fact that they told people to shut down and then on top of that they won't give them money to survive day to day, you know, those of us that have a little coin in our pocket, stuart, that are trying to give it to family members and cousins and friends, that money is drying up. stuart: yes. >> i mean, we did our part. now government needs to do their part. stuart: just remember, i'm a grandfather and, lawrence, you've got to protect me. i'm your brother -- >> i got you, brother. [laughter] stuart: i was hoping for you. >> i always got with your back. stuart: lawrence jones, i wish you the very best of luck with this holiday period and a merry christmas to you. >> thank you, brother. stuart: see you soon. back to that market. why not? look, we're at record highs all across the board. we've got some wig movers?
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>> -- big movers? >> yeah, let's start with docusign, making more money in sales in the summer months and gave a rosy forecast for the res of the full year. -- rest of the full year. subscriptions went up by 50%, and analysts love this report card, seven of them raising their price targets this morning. rbc says it's worth 345, and that's up from current levels. another big rally for snow flawk, companies that make it easier to work remotely, cloud players are doing well this week, really for the entire year. stuart: names i've never heard of -- >> snowflake? stuart: well, i've heard of it, but not until the last couple of years. >> here's one you've heard about, the beauty retailerrers didn't do as well. same-store sales down 9% in the summer months and you're not going to work, you don't have to face everybody, so is why buy as
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much makeup and skin care. and look at at&t, crushing the cinema business by releasing blockbusters and streaming on the same day that they hit the theaters, and that's crushing the h hamcs and the -- amcs and the' gals and the like. -- regals and the like. we know pfizer had a bit of a delay and crunch in production volume. stuart: a lot of news today, a lot of big movers too. susan thank you. president trump headed to georgia tomorrow. he's rallying for republicans a ahead of the senate runoff there. but with covid cases rising, will we she see more masks or social distance at the trump rally? i'll ask kayleigh mcenany. she's on the show shortly. say good-bye to nasal swabs, you could soon blow into a breathalyzer to test for the virus. i'd like to see that. we've got details on it. and the new york post is calling out democrat hypocrites. look at the cover of "the new
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york post" today. steve hilton responds to that next. ♪ feels so good but hurts so bad. ♪ my mind keeps saying run as fast as. ♪ -- you pull me back. ♪ i swear you're giving me a heart attack. ♪re troublemaker. ♪ s of money. this game's boring. only pay for what you need. liberty. liberty. liberty. liberty. to syour body needs routine. system, centrum helps your immune defenses every day, with vitamin c, d and zinc. season, after season. ace your immune support, with centrum.
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♪ ♪ >> the bottom line is if we don't act now, our hospital system will be overwhelmed, we'll continue to see a death rate climb, more lives lost. stuart: california governor newsom announcing new regional today -- stay at home orders. some nonessential businesses must close for three weeks.
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steve hilton is back with us, he is a california guy. what is the mood in california as you're facing a new series of lockdowns? are you prepared to put up with this all over again? >> no. i mean, the mood is people just being completely enraged. for all the reasons you gave earlier, for all the reasons lawrence gave. yeah, we can laugh at the hypocrisy, and it just piles up every day there's a new example of these democrat lockdown leaders' hypocrisy. you had the l.a. county supervisor going out to dinner literally minutes after voting to stop it and and saying how dangers it was. you had the mayor of l.a., the mayor of san francisco with her own french laundry e moment. we can laugh at all that hypocrisy, but it's really about stupidity and cruelty. gavin newsom just talking about the fatality rate going up. the fatality rate in california now is lower than in the summer, yet he's proposing more stringent lockdowns. these all come from these public
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health officials. sarah cody, just down the road in santa clara county, the first in the nation, copied by gavin newsom and then across the country. she was the public health director, it now turns occupant, who was three months late spotting that the virus was even here. we now know from blood testing that the virus was circulating in california in mid december last year. isn't it their job to know these things? these people don't have a clue. they're not experts. i don't know why they're still in their jobs, and i certainly don't know why they're imposing these ridiculous lockdowns which clearly don't work. they postpone the case. and so why are we repeating the same thing that didn't work before? the cruelty of it. they don't look at the cost of the lockdowns. it's all about protecting the hospitals. well, in that case why don't we increase hospital capacity? there's emergency hospital capacity that was provided by the federal government to california, wasn't even used. it is so stupid, it is so cruel. people have had enough of it.
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stuart: why do you think they're doing this? i know it's democrats who are imposing these rules. and we've got a list of the democrats who have broken their own pandemic pledges and rules. we've got all of that, but why do you think they're doing it? why is it democrats who are doing it? >> they are. because it fits with the democrat philosophy which is a total faith in the ability of government to solve i any problem. it is the absolute manifestation of their political philosophy to micromanage our lives in the mistaken belief that they have all the answers that experts and bureaucrats and technocrats and politicians can make everything perfect. it is the moment they've been waiting for that they can actually run everything. it's the daily news conferences they're addicted to, the attention that they're in charge. that's what this is all about. that's why it's beyond a joke. this is really, really serious. there's going to be a revolution against this. you're seeing it start already in terms of resistance to the
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shutdowns and the lockdowns. you talked about that, and there'll be more, i promise you. but there's going to be a political revolution because these people need to be kicked out of power. stuart: whoa. i know the name of your show is "the next revolutionment" i didn't realize that you're calling for it to be in california, a political revolution -- >> absolutely. stuart: last point. steve, i have a bad case of pandemic fatigue, lockdown fatigue. i'm bored out of my mind with nothing to do. you too? >> exactly. i mean, it's just so frustrating when you see that all these things that we could be doing, they're actually healthy and good. look at los angeles. they've just banned walking and riding your buick, for goodness salk -- your bike. it is ridiculous. here's what i think at the end of all this, just as you were saying with lawrence, be responsible. protect the vulnerable but live your life. stuart: well said.
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i'm going to watch your show even though it's at 9:00 at night -- [laughter] laugh and that's the middle of the night to me, but it's on sunday night, 9:00 eastern on fox news channel, "the next revolution" with a great guy, steve hilton. see you next week, steve. >> thank you. stuart: sure thing. now we hear that the military is helping roll out -- this is important -- a breathalyzerrer test for the virus. grady trimble is in bryan, texas. you got one? how does this thing work? >> reporter: yeah, this is it right here, stuart. it will be welcome news to anybody who's taken that uncomfortable nasal swab. this is simply a breathalyzer. you use a plastic straw, and i'm going to demo it for you. take my mask down. and you blow into it like that, and within seconds, this is a working prototype so it's not quite up to speed yet, but what the plan is, is to have it test your results on -- text you the
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results on your cell phone. dave is partnering with texas a&m and the u.s. our "forbes," and you really -- u.s. air force, and you really see this as a way to reopen things. >> that's right. our goal is to be the company that brings us safely back to work. you don't need to test everybody, you need to understand who needs to be tested. so a device like world protect which is fast, it's accurate and inexpensive per test, it makes all that possible. >> reporter: where could you put this kiosk? so small, and it doesn't really require a nurse swabbing you. >> it's a portable, noninveighsoff unit, so we're targeting large corporations, schools, universities, colleges and the military as well. really anywhere where there's a large portion of people that need to be going back to work, this is a great solution for that. >> reporter: and, stuart, i mentioned the partnership with the air force. hundreds of people have already been tested, and so far it seems to be an incredibly accurate quite. they're looking to get emergency authorization to get this out
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there as at least a screening test for people who might have covid and then have to get a pcr it's. the goal is that this could be the one test they take, and it's a lot less inviewsive than -- invasive than that nasal swab. stuart: bring it on. grady trimble, right in the middle of it, thank you, grady. take a look at this. a brand new tourism ad shows a beautiful clean city, no masks, this ad is for wuhan, china, where the virus originated. we'll show you more of that. and if you are headed out of town, leave your emotional support mini horse at home, please. new restrictions for service animals on planes are coming. thank heaven. and president trump and the rnc raised an extraordinary $495 million just since mid october. that's a huge war chest. could that go towards a trump 2024 campaign? i will ask kayleigh mcenany. she's next. ♪ wannabe starting something, got to be starting something.
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♪ stuck in the middle
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"the next revolution." i didn't
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♪ stuart: president trump heads to georgia tomorrow. he's holding a rally for the republican senate candidates there. kelly loeffler and david perdue. caylee mcremainny -- mce neighbor is with us this morning. what should we expect from the rally? mask wearing? social distancing? what should we expect? >> yes. so we do hand out masks, encourage attendees to wear them. most do. and, you know, everyone has a choice whether to come up. we we give out hand sanitizer, so those reprecautions will be in place. as i said before, you still have a first amendment, a right to political speech even amid a pandemic, the constitution matters. it'll be a great night tomorrow night in georgia. stuart: some republicans say, look, the president's presence in georgia is not helping. what say you? >> the president's presence in georgia with will be what puts senators leffler and perdue over the finish line. when you look at what happened in this election, everyone expected us to hemorrhage seats. in fact, we won all 27 toss-up
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seats in the house, stunning democrats, and are holding on to the senate, and it's the president that does that. and him being there will be the single reason that i believe both of these senators will prevail. so it'll be a good night, and i believe it's the start of these two senators crossing the finish line. stuart: just quickly, do you think it'll look like the kind of rally the president was holding before the election? >> i do i think so. look, stuart, i distinctly remember our rally in rome, georgia, and i was going to about six of these a day by the end. but the crowd was unbelievable. the number of people who showed up, it was extraordinary, and i think you're going to see even more because our base has never been more motivated by the kind of irregularities that we've seen in this election. they want their voice to be heard. it's why they're driving across the country in cars in a maga parade, and they will show up in a bug way on saturday night. stuart: i was asson thished by this number, president trump and the rnc have raised $495 million just since mid october. what's the president and the rnc
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going to do with money like that? >> it's extraordinary and, in fact, since the election -- there's a washington post article, believe it or not, that talks about how extraordinary this number is, just since the election 275 million has come in, after it presumably had been called. that's just a bug motivating factor -- big motivating factor. the president will be supporting this party. hopefully he prevails in litigation, but the trump movement is continuing in a very big way x those numbers indicate that. stuart: would you address the question of will the president run in 2024? i know that the standard answer is that the current election's not been decided. i understand that. but is the president leaning towards a run in 2024? does he feel that he could get into it again, that he wants to get into it again? does he feel enough energy to get into it again? >> i'll leave that specific decision to him, but what i'll say is this, stuart, i've talked to him many times, he's continuing as the head of this
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party. make no mistake, this party for decades was creighing for a fighter -- craving for a fighter like president trump to come in, challenge the status quo, challenge the establishment, challenge the weak republicans, the moderate establishment, challenge big tech, challenge the media. this president did that. he has fought for this base, and this base is behind him all the way, and he is not going away. hopefully, he prevails in litigation, but he is the head of this movement, make no mistake, and that will not be changing. stuart: but with all that money, nearly a half billion dollars, and husband intention to stay there at the head of the party, he's crowding out younger newcomers. he would be 78 come 2024. >> well, a lot of those newcomers who are rock stars like senator hawley among others, matt matt, -- matt gaete encouraged this president to continue. 2024 looks like a great opportunity for him, is what these congressmen have said. i think it's a big indication when you have congressmen and
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senators coming out in droves saying this president is leading the way x we stand behind him. tells you all you need to know about where the republican party stands. stuart: will you be with the president in georgia tomorrow? >> i will. very much looking forward to it. it'll be a great time. it was one of the best rallies, that rome, georgia, rally, and i expect tomorrow to be just the psalm. stuart: we really look forward to hearing about it. with really thank you. i know how busy you are, and i honestly don't know how you do it, but thank you for being on the program. >> it's always great to join you. stuart: see you soon. thanks, kayleigh. check that market. why not? it's a rally still in progress. almost the high of the day, up 177 for the dow, up 69 for the nasdaq. i'll call that a rally, thank you. southwest airlines just notified nearly 7,000 employees about potential layoffs in the spring. southwest has never laid off employees in its 49-year history, but the pandemic changes everything. now show me deutsche bank.
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now, why do i care about -- >> because deutsche bank is very bullish on the s&p 500. stuart: ah, that's it. >> broader markets at the end of next year. they just raised their target to 2950, that's -- 3950, that's an increase of 8% from current levels. jeffreys saying 4200, goldman sachs saying 4300, jpmorgan calling 4500, that's an increase of 20%. this hinges on stimulus hopes, of course. also what about vaccine distribution and the fact that companies are still making a ton of money, and that's what deutsche bank is saying, that will continue and accelerate in 2021. stuart: the georgia senate races are is still the fly in the ointment. >> right. stuart: if the democrats take the senate, i think you've got a problem. >> that's a good point. also pricing in the fact that
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we're going to get a divided government so you can't get those tax hikes. stuart: we're very close to agreement here. [laughter] that's a dangerous place to be. >> yeah, yeah. stuart: wuhan, china, trying to lure tourists back. lauren, that's where the virus started. apart from the ad, how are they trying to get people to visit there? >> they overcome the stigma? it's ground zero of the pandemic. they're showing this ad, the beauty of the river, the food, the culture, dancers, planes. the region says we've had no local infections since may, that's what they say. they actually attracted 19 million people from golden week which was back in october. this might be more for domestic travelers to go to the area. i don't see any, you know, international tourists hopping on a plane and saying let's spend some time in hue bay
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province. [laughter] stuart: not quite what you would be prepared to do. lauren, thank you. you've got to listen to this one, got to listen to this. the transportation department has just tightened the rules for service animals on planes. lauren, tell me, please, this means that horses like that can no longer sit next to me on a plane. [laughter] tell me that, please. >> you're correct. so in the next 30 days, the only emotional support animal that you can bring on a plane is a dog. if you're bringing a mini horse, a turkey, a peacock, a snake, doesn't matter if you have a doctor's note, you have to pay, and that animal has to go in cargo. that's good for the airlines, brings in about $60 million a year, and it's good for some attentions who don't want -- stuart: yeah, right. >> -- an animal to bite them or urinate on the carpet, you name it. so only dogs. stuart: yeah. i just don't want a horse next to me on a plane, it's as simple as that. thanks very much, lauren.
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[laughter] emotional sport, of course, but not from a horse. >> where is it they have room for you, if that's the case? stuart: there is a furniture shortage across the country, and instead of waiting weeks for a sofa or kitchen table, people are opting to move into fully-furnished homes. live report on that for you. it's okay. and look at this. those are letters signed by all four of the beatles. they're heading to the auction block. we'll tell you how much you have to hell out for that and other -- shell out for that and other historic memorabilia. back after this. muck it's been a hard day's night -- ♪ and i've been working like a dog. ♪ it's been a hard day's night -- ♪ i should be sleeping like a log. ♪ but when i get home to you, i find the things that you -- ♪ they make me feel all right ♪ our new house is amazing.
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stuart: the rally holds, still at record levels for the dow, the s&p and the nasdaq. and now this: the pandemic is fueling a furniture shortage, believe it or not. kristina partsinevelos live in new york city for us. are people going for fully-furnished homes nowadays? >> reporter: yeah. it's a new trend that we're seeing. why? think about it, stu, everybody's at home, they want to decorate, renovate. even my photographer told me he has to wait eight weeks for husband pottery barn piece. because of that delay, you're seeing this potential shortage of furniture. so now people that are entering the real estate market are realizing, huh, it's going to take me so long to get my furniture, i may as well get a fully-furnished apartment. these are called turnkey apartments, you can a la cart pick the items that are staged there for you. we have some visuals for you
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from homes here in manhattan. if you like the couch, okay, add that to my bill, add that painting to my bill, add that table to my bill, and that would create a turnkey apartment. we caught up with the ceo of interior marketing group, and they discussed the potential shortfalls when it comes to these furniture delays. listen in. >> create home offices, and this created a huge surge in the demand for furniture sales. so that coupled with the backlog in manufacturing and destructs just created -- and distribution just created this huge domino effect in demand for furniture which is very hard to get now in bulk. we're seeing continuing backlogs now for our own inventories. >> reporter: or so their inventory is in these turnkey apartments, and these are gaining popularity in new york and miami. but they're not cheap, of course, and it's just starting a new trend within the pandemic. back to you. stuart: okay. a new trend, i'll take it. thanks very much, kristina.
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and now one of our favorite guests who is highly rated and everybody likes this guy. he likes the things that he brings to the table for us. that is ken golden. ken golden auctions. and he's got some terrific stuff for us today. let's start with the double fantasy album that john lennon signed, and he signed it for his awe saws sin, mark david chapman, on the night of his assassination. there it is on the screen. how much, ken? >> $1.5 million. stuart: it seems rather gruelish, though -- ghoulish, though, the night of his assassination. >> it's a very unusual piece. it's the last item, obviously, that john lennon signed. it is probably the most famous signature of any beatle on any item and, let's face it, it talks the right type of buyer -- takes the right type of buyer, but it is a famous, iconic piece, and it's amazing that the it exists today with his e fingerprints still on it.
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stuart: you also have, think, several letters signed by john, paul, george and ringo. i think it's from 1969 on the screen there. how did you get those, and how much are they worth? >> okay. so both the lennon piece and the beatles' letters were in a traveling tour that shut down due to covid, and the owner contacted us to auction it. the letter is one letter, sured eastman to represent the beatles fully, and the next letter four month later basically indicates they're about to break up and says you are not authorized to, you know, do any business decisions, any legal discussions with the beatles, and t only signed -- it's only signed but john, ringo and george, and it gets on to say we understand you still represent paul mccartney, and what you do for hum is not our business. stuart: ah. how much? >> that's historic. we expect that to go for about $400,000. [laughter] stuart: good hour. okay. here's something i absolutely do not understand --
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[laughter] it's described as the 1999 poke man first edition number four holographic nba black diamond certified sgc gold label pristine -- what's that? >> stuart, you did a great job. i know that your graphic is probably going to show an estimate of $400,000, but we're expecting 500,000 plus. it is the holeily grail of all pokemon -- holy grail of all pokemon cards. next year is the 25th anniversary. the difference between pokemon and a lot of these other collectibles, it is worldwide whether it's united states, canada, england, china, japan, australia, all over the world they're collecting pokemon if, and the pices are skew rocketing -- prices are skyrocketing. stuart: you really educate me, we need to jump that up to $500,000. i'm sorry about that. now then, let's turn to basketball. let's see if i get this one right. you also have nba star yanis, his rookie card. i got the pronunciation with
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right, hand it to me, i got that right. what's the price? >> very good. the price on that one is $500,000, plus keep in mind earlier this year, this is his second best card that exists. earlier this year we sold his best card for $1.85 million. >> wow. stuart: good lord. that's ooh just -- i'm blown away, ken de, but i've got one more. michael jordan's game used and signed pair of bill. ing ham barrons air jordan cleats. real fast, how much? >> 50,000 plus. the unique thing about this is very little million probill ya exists from his baseball career, and this came directly from jordan's best friend and assistant and comes with the signature of jordan. all of these items are available at golden auctions.com, and the auction closes on december 12th. so one week from today -- stuart: golden auctions.com. hey, ken, that was terrific. thanks very much for coming to
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us. we always appreciate it. see you soon. >> i love coming here, stuart. thank you so much. stuart: see you soon. you know what's next. a short commercial break and then it is friday feedback. bet you can't wait with. we'll be back. a must in your medicine cabinet! less sick days! cold coming on? zicam® is clinically proven to shorten colds! highly recommend it! zifans love zicam's unique zinc formula. it shortens colds! zicam zinc that cold! it shortens colds! apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret.
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stuart: yes, it's time for friday feedback. we're being joined by lauren, susan -- ashley has the day off, but with the three of us all together. jim nichols says this: in one of the fox ads, mr. varney states that he never uses a script. i just look into the camera and spook directly to the viewer. -- speak directly to the view or. in observing husband my take deliveries, it appears he's using a teleprompter. if so, he may wish to reconsider the above statement. let me be perfectly clear -- [laughter] most of this show is ad libbed. i use the occasional bullet point on the it'll prompt orer right in front of me, but when it comes to my takes, i have to be absolutely precise in my words. i'm expressing an opinion. you've got to be very careful doing that these days, so i do use a teleprompter for that. my apologies, didn't mean to mislead, but that's when i do use a prompter. i'm using a prompter for this, we've got toed rad it right.
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this next e-mail comes from craig, he writes: i apple curious about what hobbies or outside pursuits stuart, ashley, susan and lauren engage in when they're not on the air. me first. i am an avid reader especially during the pandemic. lauren, what do you do? >> oh, i wish ashley was here, i'm so curious. me, i actually am a owe georgia teacher. -- yoga teacher. however, i have not taught a yoga class yet because i finished my certification during covid which meant 12 hours every weekend on zoom. >> wow. >> i feel bad for children out there doing remote learning. stuart: that's a revelation. >> impressive. stuart: susan. >> i play tennis, but i haven't played enough tennis this summer, unfortunately, due to covid, because there aren't that many people around to hit the ball with. maybe we can have a play one time. even play mixed doubles. what do you think, lauren? stuart: it would kill me, or i'd have a heart attack. [laughter] >> i will certainly play with
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you, susan. stuart: in my 60s i played tennis. in my 70, i do not. >> i want to be on the opposite team of stu. stuart: i'm sure you would. [laughter] quiet on the set. e death says: greetings, mr. varney. first, i love your show and spend the whole three hours with you every day. my goal in life is to hear you tell me that, hey, you're all right. seriously. well, edith, again, i do hop you're taping this -- hope you're taping this. here you go. edith, you're all right. got that? >> that was nice. stuart: you want to say it? go ahead and say it. >> in a british accent? stuart: yeah. >> okay. let's not. [laughter] edith, you're all right. stuart: you want to do that, lauren? >> edith, you're all right. [laughter] stuart: very good. please, keep your friday
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feedback stuff coming. more "varney" after this. ♪ i need to be with you tonight. ♪ i need your love before voltaren arthritis pain gel, my husband would have been on the sidelines. but not anymore! an alternative to pills voltaren is the first full prescription strength non-steroidal anti-inflammatory gel to target pain directly at the source for powerful arthritis pain relief. voltaren. the joy of movement.
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voltaren. to all the businesses make it through 2020... thank you for going the extra mile... and for the extra pump of caramel. thank you for the good food... and the good karma. thank you for all the deliveries... especially this one. you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere, from all of us at comcast business. we're portuguese? i thought we were hungarian. can you tell me that story again? behind every question is a story waiting to be discovered. this holiday, start the journey with a dna kit from ancestry.
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stuart: one more from friday feedback. just got to get this in. quote, would you have stu over for thanksgiving. honest responses only. well, susan? susan: absolutely not.
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then you will complain about the mashed potatoes being too hard, the turkey is too dry, what is this place, i can't get good service. that's what i'm going to hear. stuart: the truth is i never complain about anything. you know that's the truth, don't you, lauren? three, two, one. lauren: i know you wouldn't come. stuart: that's true. neil cavuto, it's yours. neil: someone is not telling the truth. someone is not telling the truth. all right. stuart, thank you very much. have a good weekend, my friend. at the corner of wall and broad, we've got the dow looking at a record, s&p looking at a record, nasdaq looking at a record. that despite a sort of ho-hum jobs report here that shows 245,000 more were created in the latest month. here's the thing. the markets were looking for something close to double that, about 445,000. having said that, though, we did see the prior two months revise to another 11,000 more jobs than we thought we were getting. the unemployment rate is now at

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