tv Varney Company FOX Business January 13, 2021 9:00am-12:00pm EST
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maria: that will do it for us to have a wonderful day. my thanks to courtney and dagan. "varney & co." begins right now. take it away, stu. stuart: thank you and good morning, maria. good morning, everyone. extraordinary political turnaround. one week ago the riots in our nation's capital ended today an impeachment vote in the house. vice president pence will not invoke the 25th amendment to remove the president from office so democrats will proceed with impeachment. it will be the first time ever for presented to be impeached twice appeared the republican party is walking away from president trump. senate majority leader mitch mcconnell says the president did commit an
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impeachable offense in a gop conference chair, senior official liz cheney will vote for impeachment and a so will five or more fellow republican house members. youtube joined the list of platforms banning president trump. he has been silenced and effectively mr. trump no longer leads the republican party took no other leader has emerged. the incoming biden administration faces a much less effective opposition. last week has strengthened their hold on political power. if the state of the nation is the biggest concern for investors, you wouldn't know it by looking at the stock market as it's still close to record highs. the dow jones will open slightly lower, but it is still close to my 31000 s&p down maybe seven, nasdaq down maybe 22. those are not serious declines. as for bitcoin, it's been moving up and down rapidly recently took
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this morning we are taking it out $34745 per coin. more volatility. big show today including on the show today alex césar. why have only one third of the vaccines distributed actually been used cracks the new state of retailing, nearly 20% of online sales, over $100 billion worth of merchandise has been returned. about news and will im raising williams-- millions for education. can he do something about the deplorable state of education and minority communities? what a show. a week ago the president was about to address six crowd of thousands. his party was about to challenge the electoral college vote. it's a very different story now. "varney & co." is about to begin. ♪♪
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stuart: kind of an upbeat song for rather a downer of a day. i hate to say it, but here we go again. arguments are now underway on the house floor as the chamber prepares to vote later today to impeach president trump for the second time. let's bring in fox news contributor liz peek. the republicans are deserting the president. i think republican party is largely leaderless. that doesn't that give president-elect joe biden a leg up for the early days of it is administration, an advantage? >> yes and no. i think starting off his administration with an impeachment of highly dubious character is a very bad idea. i agree with the joe
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mansion that it's an ill considered move by democrats. the big uproar on capitol hill is because trump presumably aided and abetted those who would undermine our institutions of democracy. nancy pelosi is undermining our institutions of democracy by forcing through a six day impeachment with no witnesses, no investigations, no credibility whatsoever. yes, a lot of people will vote to impeach the president, but frankly, i think it's almost more because they are concerned he will come back and rival the republican party again, lida republican party again in 2024, and date-- nancy pelosi has admitted that impeaching him twice and convicting him in the senate would basically prevent him from running for office again. since the election in georgia, he has raised $200 million. this is what happened the last time the democrats moved it to impeach trump. his fundraising went
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through the roof and his approval ratings once again are going up, not down. i think it's incredibly stupid and what are we talking about, we are talking about joe biden who tomorrow will roll out his great plan for how to stimulate the economy. we are talking about trump again, and impeachment again, i think it's a very stupid. stuart: do you think that president trump or donald j trump as he will be in a weeks time, can he lead the republican party going forward? >> look, stuart, 74 million people voted for president trump. let's talk about mitch mcconnell. mitch mcconnell reportedly as you know said he will vote to impeach the president. in kentucky, mitch mcconnell's day, trump 163% of the vote mitch mcconnell running for senate only one 49%. who is more popular in kentucky, mcconnell or trump?
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in my view a conical-- mcconnell is deciding that this is a highbrow position he wants to take and i admire him for doing it if he believes it's the right thing so be it. my guess is he won't run again at 84 and he's taking a political chance that he really hurts the republican party here and i think it's really unfortunate. i don't think trump will run again in 2024. who would want this endless criticism down on his head for four more years but he will certainly be a kingmaker there's nothing they can do about that and i think alienating him and his supporters is a poor choice for republicans. stuart: liz peek, we do here you. thank you for joining us historic day. thank you. >> thank you. stuart: nancy pelosi named nine democrats to serve as impeachment managers and among them is eric's while well. this-- ashley, you have to commend this because
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this is the congressman who recently faced criticism because of his connections to us chinese spy. what's going on? ashley: you are absolutely right. the democrat from california has refused to say if he was romantically involved with the secretary chinese spy christine who is in the country as an exchange student in the fbi warned him about her in 2015, during his first year on the house intelligence committee. he cut ties with her at that time, but it turns out his father and brother remained active facebook friends with her until last month when the story became public. there have been calls for him to be removed from the house intelligence committee. it's interesting though, he will be one of the nine democrats making their case for the impeachment of donald trump if there is a senate trial. separately vice president mike pence has rejected calls to invoke the 25th amendment to remove president trump from office.
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he says in a letter to nancy pelosi that it would set a terrible precedent and he urged lawmakers to stop dividing and inflaming the passions of the moment. stu? stuart: i hear you. thank you. next case, youtube suspending president trump sterile. lauren, how long is he blocked for? lauren: at least two weeks. youtube removed it to contact posted to that channel and is preventing new content from being added for at least seven days. they cite a violation of copy policy. what youtube also did was suspended the comments you usually see under videos. suspended them indefinitely because of safety concerns. why is this last bit of information significant? youtube was the last of the social media companies to give trump a timeout. now they have also chosen not to identify the specific offending video. we don't know which one it was that got the presidency channel
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essentially booted off the site. stuart: well, they silenced him and that's a fact. thank you. ashley, this is another one for you. amazon-- you know the story, amazon says it will no longer carry president trump and parler, i should say, an alternative to facebook and twitter-- parler sued. what's amazon's response to the lawsuit, lauren? lauren: they say it's meritless and that parler breached the teams-- terms of their contract and they sate we are amazon, we are big tech and%-- protected by section 230. if you asked me it was a no prisoners approach. they said we told parler at least 100 times there were instances of violence on their side in november and december alone. they said parler did nothing about that. amazon also said they have immunity from
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content moderation under the liability shield we talk about a lot called section 230, so this story, this case perhaps makes that defense the highest profile test yet of this protection enjoyed by big tech and it also has amazon slamming that parler that you aren't policing content on your site the way you say you are. really for parler to respond to. stuart: response, counter response and here we go. looking at the futures as we are about to open the markets. you can see a tiny downside movement slightly this wednesday morning. david nicholas, market watcher joins us now to david, here's the opinion that i think you share, the economy what it needs now is for the big democrat states, california, new york, new jersey etc. open up. i think you have got some research contrasting states like new york and california to the opened states like georgia.
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what to do you see? >> 's tour, you are spot on. states like new york and california are committing economic suicide. i was looking at the data and if you look at the 25 states with the lowest unemployment, 18 are red states and if you look at the 25 states with the highest unemployment state-- in that country, 19 or blue states, so red states overwhelmingly have done a better job of handling the crisis because they kept their economies ( maybe we could make an argument that says some blue states have higher unemployment rate, but saved the lives in the process. long, take a state like florida, fascinating data, 21 million residents in florida, 22000 deaths related to covid. new york with less population, 19 million residents with almost twice as many covid deaths, almost 40000 deaths related to covid
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compared to florida so economically it did not work and even saving lives it didn't work so i agree with you, open back up and get americans back to work because the strategy to fight the virus economically is it working. stuart: does the future look a bit brighter if these states to open up? new york says they want to open up and we do have the vaccine coming in greater numbers. is that a positive point over the economy in the near future? >> yes, stuart, it is, but is also positive that the states will open because americans are voting with their feet. southern states like georgia and florida are winning with residents moving and taking advantage of economies that are open so i think it's better as states open. states like new york need to open, but unfortunately some of the jobs are coming back. they have moved to states that have stayed open selling future times of crisis maybe they won't have the same risk and lose their
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businesses and how their families hurt because of regulations. stuart: despite it all, there is no accurate big-time selloff this morning. thank you for joining us. now, we are just learning that one day before the riots, the fbi reportedly warned extremists were planning to storm the capital to commit zero war that contradicts claims there was no indication of looming violence could this is alarming developments and we have more in a coming up. also ahead, hhs secretary is calling on states to offer vaccines to everyone 65 and older , but i want to know what's wrong, what's going on, what's the holdup with the rollout so far? i will ask that. one more look at futures and we are almost at breakeven point. note change for the dow jones. that's a minor league loss. i will tell you more about it after this. ♪♪
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stuart: apples in chief, tim cook, calling for accountability following last week's riots at the capital. susan, this is some form of a new social justice initiative, is that what we are talking about? susan: just announced doling out money from their $100 million fund for the first time for racially quality and innovation hub for hbcus, also tech education and funding for minority and tim cook asked if president trump should be held
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accountable for the events in dc last week. >> i think no one is above the law, i mean, that's a great thing about our country and we are able of law country. i think everyone had a part in the need to be held accountable. susan: no direct to blame, no exemption either and also asked about parler he says it's a moderation issue and hopes to get them back on the store soon. stuart: that would be interesting. thank you. we have the latest read on mortgage applications and refinance activity. i hope they are good numbers, lauren. lauren: oh, they are very good. up 8% last week, up 10% from last year, but here's the big story, applications to refinance spiking 20% last week, the highest since march and they're also at 93% from a year ago. fear of missing out, the mortgage association exclusively says stimulus and vaccines
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are improving the economic output pushing yields up so homebuyers now are hustling to lock in at a low rate, which they can sell its fear of missing out as things get better and rates go up. stuart: entirely understandable, i guess. thank you. very well-known economist named stephen roche came out with a real headline. he said that economies v shaped recovery is in potter's. that's a strong step john lonski joins us now. john, do you think the v shaped recovery is in tatters? >> absolutely not. no. i went to add, you know i recently listed forecast from 50 economist for 2021. the lowest real gdp growth rate forecast is a plus 2.4%, which is by no means indicative of a
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recession. in fact, the average forecast for economic growth a solid 4.2%. economists are convinced we will have the fastest rate of economic growth in the us since the year 2000. stuart: i think you nailed that they are. let's move on and talk about the housing market we have good numbers here on mortgage application refinance. my question is this, is housing really bright spot for the economy? with home prices going straight up, there is a limited supply of homes for sale. is that a plus for the economy? >> well, i still think that housing is going to perform well relative to historical trends in 2021. unless we have some unexpected jump by treasury yields with a higher mortgage yield. however, we are probably right now in the process
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of forming a peek for the seasonably adjusted annualized rate of home sales. we will do very well next year, but because of a lack of inventory, higher prices, i would not be surprised if the pace of slows a somewhat sequentially in 2021. stuart: okay. overall, you still see a gain for the economy this year, 2021, compared to 2020, compared to 2019, ucs expanding at a rate of four, 5%, best year in many years? >> 4.2%, 4.5%, is going to be a solid year of economic growth. let's not forget, not only are we going to have a fiscal stimulus. we also have record-breaking monetary stimulus with money supply growing at a rate that has not been seen before.
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on top of all of this, we will ultimately have a full or adequate distribution of that covid-19 vaccine and that's going to proved to be the turning point. after that vaccine is adequately distributed, we will be looking out for percent gdp-- gdp growth for the next several quarters. stuart: wow. you put-- our mind is at rest, john. you have reassured us and we like that. john lonski, thank you for joining us. a check of the markets as we open up in a couple minutes. very modest downside and i mean modest. back after this. ♪♪
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stuart: you look at where we are going on this morning, it's a mixed picture, but basically flat. let's bring in market guy david lefkowitz. david, i think earning season begins this week. what kind of profit gains are you expecting? >> yeah, it does start this week, stuart. unfortunately, there probably won't be gains. we are probably still looking at a modest
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decline in earnings, but we are still sort of climbing out of this cavern from covid. i think the good news is that it's probably the last quarter of earning recession because as we know there is some light at the end of the tunnel in terms of the pandemic with the vaccine, so, i mean, that's what the whole story is. it's just about getting the economy fully back on its feet as a result of the winding down of the pandemic. i think her needs will actually be reasonably strong and better than what consensus expectations are and that's been the trend we've seen over the last couple of quarters and it looks like estimates are pretty conservative as we go into the fourth quarter, so i think they will be good earnings. i think the guidance will probably be conservative because we are still in the pandemic as we speak today. although, there is light at the end of the tunnel. ultimately, i mean, 2021
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for the full year and think you-- i'm sorry 26% earning growth this year, that will be a big driver of gains for markets in our view. stuart: a 26% earnings gain on the year, that's pretty strong. is that why i look across the spectrum of wall street and i don't see anyone telling me too sell. when will someone tell me too sell? >> i think just from our perspective at ubs i think a double-digit gain is reasonable, but the things i worry about would be a few of the following, obviously the pandemic itself. we have to make sure the vaccines are effective and are safe. all the indications are that they are, but we are watching it closely. if we got a big spike in inflation, that would be disruptive to market timing you would see a pretty substantial increase in interest
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rates. you would see concerns that the fed would start withdrawing monetary accommodation and that is something to pay attention to. i don't think that is likely, but it would be something and then anything on the trade front. that can upset markets. stuart: david, thank you. most people are bullish for wall street's performance and 2021 and we have started trading and we are modestly on the downside. i'm going to call that flat to slightly lower. of the majority of the dow 30 is in the red as we open for trading. s&p 500 again, a very tiny move if any at all. that is dead flat out 3800-- 3801 right now on the nasdaq just went up .1%, 13092 on the nasdaq twitter, mastercard visa, all of them getting upgrades. lauren, tell me about
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twitter. lauren: look at that, i'm-- up almost 2%. m camp partners upgrading them to a five, 60-dollar price targets of about $12 from here. i know you are saying would someone upgrade twitter well they are saying look at the economic recovery in 2021. that means live events coming back, new products being launched, advertisers will spend money promoting that and that is good for twitter. also, jeffries upgraded both of the said mastercard. they bet the vaccine rollout triggers a recovery and international travel. haven't said that in a long time. they call the card companies high quality recovery plays. of the set up slightly on the news giving them a 250 price target and mastercard 415. stuart: 250 price target on visa at 209 and mastercard four to 15
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tell me about target. susan,-- i'm sorry, lauren, they had a terrific at a season, didn't they go before they did. 70% growth in same-store sales. customers that more at the stores and that was good, but the stock gained a lot and i know you are saying how is it flat slightly lower on this good news, and i think part of the report that surprises people is that digital sales doubling and the same day services so whether you ordered something and then went to pick up in the store or drove up or had it delivered in the same day, that grew 193% over the holidays. its tremendous, but as we get vaccinated and can go back to a store more freely i think investors are nervous if we will still use the services. stuart: interesting. terrific report and target stock is actually down a fraction. thank you. moving to microsoft reportedly close to a
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deal to open the miami offices. interesting. susan, they are not the only company moving to the sunshine state. susan: citadel, elliott management with their billionaire's founders and owners possibly headed to south florida, citadel looking for space in miami and the founder also scooping up a billion-dollar-- millions dollars on star island turkey is worth a lot. elliott management, policies are heading to palm beach with black something of 40000 square feet. florida and miami police south florida is the place to be. we know goldman sachs has made the announcement they are moving some of their asset management staff, to florida. florida is one of the southern states with zero state income tax and that is enticing for these financial firms. stuart: very enticing when you earn a lot of money. zero state income tax is
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good news. now you have one more. i want you to tell me why i should care about this. nvidia and amd out with new chips. susan: if you look at what's happening at intel, i think chips are relevant today. chip wars as you know are heating up and also ces in the other year we would talk about the consumer electronics show and in nvidia-- nvidia lighting it up. we know it's the best in the business and pretty much what they built a business on a given gaming is booming during covid next-generation xbox, playstation's are hard to find and nvidia would-- should be selling more. intel today is spiking, but we have amd announcement new pc chip meaning pcs are back in demand with highest nears-- year-end sales. stuart: thank you. legalize marijuana. we believe it's coming to new york state. ashley, what is the plan? ashley: well, new york governor
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outlined his plan to legalize marijuana for adult recreation use in his state of the state address this week. governor cuomo said it will eventually lead to 60000 new jobs, $3.5 billion in economic activity and very importantly, $300 million in tax revenue, trying to refill the coffers. new york currently has a limited medical marijuana industry and they would join 15 states and washington dc where recreational marijuana is legal. when you are short of green, you grow some green i guess is what they are saying. stuart: that's a good line, ashley. i went to talk to you about the bookmaker. they are british, one of the largest gaming operations of the world. they look like they are a stay-at-home winner and a sports betting winner. dfa members for me? ashley: absolutely progressed i get home and watched efforts, play video games and yes, gamble.
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william hill says total net revenue for the fourth quarter group 9% year-over-year, but the fold year revenue actually fell 16% because of the viruses impact on live sports at a retail stores. uk betting company says retell net revenue fell 30% and no one could get to the bookies in the lockdown, but online revenue gain 5% and we should remember william hill agreed to be bought out by caesars entertainment last september for $3.7 billion. stuart: there is money in gaming. we are going to go through some markets for you look at the indicators with first off the 10 year treasury yield 1.11% today. price of gold still well below $1900 an ounce at 1853, up slightly at bitcoin $35000 per coin. one last one, oil today is that 50 audit dollars a barrel-- $52 a barrel.
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it's a very busy news day today. the house will vote to impeach president trump once again. that's going to happen today, but this time around there are republicans who support the impeachment. congresswoman liz a cheney is one of them and some of her colleagues are calling for her to resign. i think it's fair to say the republicans are divided. and you will more about that in my take at the top of the next hour. the senior, will.i.am here on the show. you may know him on his work with the black-eyed peas now he has a project to raise education, money for education. he's on the show in the 11:00 a.m. hour. will.i.am coming up. ♪♪
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stuart: intel start doing well this morning, up 9%. if-- i wonder if it has anything to do with their ceo will step down effective february 15? pat gelsinger will replace him in the stock is up 9%. i don't know if those two events are connected , but the stock is up. looking at the overall markets and also we are look at the house debating the impeachment rules that is the floor of the house as they debate the rules. they will vote to impeach later today. despite that, left hand side of screen, markets are almost entirely in the green. can you believe this? last year more than $420 billion worth of merchandise was returned , that's 10% of everything sold in stores in america, it went back, returned. for online selling it was worse, nearly 20% went back.
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susan, come into this. that seems like an astonishing number to me is this the new face of retelling? susan: yep, it is especially as we shop online. you will get more returns when people are just buying on spec and don't have the opportunity to try them on. online returns-- you're compared to 2019 and that means for every $1 billion in actual sales over $100 million in a merchandise was returned. there's also fraud. 5% or so according to this analysis and for lower-priced items here is the good news, if you buy something like batteries or makeup anyone to return it, it may not be worth it for walmart or amazon to ship the return so retailers will say keep it and here's her money back. stuart: i guess i'm surprised because i don't do much online shopping. susan: you don't shop? stuart: exactly. i'm not familiar with the return idea. thank you. marie kondo, you may
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know her as she is the start netflix tidying up, that is the show and she has a new line a products in the container store clerk loren, this is all because people are staying at home and need to tidy up the? lauren: yeah, i mean, we are home or so we are making more of a mess, at least i am and we also have more time on our hands where we went to organize. here comes and marie kondo with this new line about 100 are dems, organizational items and are being sold at the container store, but this is the second blockbuster alliance between the store and netflix are good they had the home edit line based off of a show where the organizers helped celebrities organize their home. that line did so well at the container store that it helped the stock price rise 150% for the year so we will see if marie kondo has the same effect. when her show first came out i vividly remember eight uptick in people cleaning their closets
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and donating to goodwill , so thrift stores did well. we will see if the container stores do well stuart: fascinating to me. thank you. listen. it's intriguing. a computer programmer forgot the password to his bitcoin wallets. now, he only has two guesses left before his account is lost forever. he could lose a lot of money. ashley, how many millions-- i think it's in the millions, how many millions could he lose? ashley: it's a so in the millions, stu, how about 220 million? that's the estimate. i get angry when i can remember the password for my prime the video account, but stefan thomas lost his password to his digital wallet known as a digital key back in 2011. he does indeed have two chances left before the content is encrypted and a lost forever.
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he gets a total of tests pass-- 10 password attempts. he's under a lot of stress he says. he is not alone. according to the "new york times", 18.5 million bitcoin worth about $140 billion are currently held in lost or stranded wallets is the premise for a great movie, is it not? stuart: gas, it is. is the story of my life, can't remember the password. staying on bitcoin pour moment, went want to bring in chris hehmeyer. his firm clears trades in bitcoin turkey of it on the show before, very articulate and you know what you're talking about. let me ask this, do you think bitcoin is a bubble? >> well, stuart, thank you for the compliment. great to be with you. the 20 or 30% price from up over 400004 bitcoin i
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think was overdue and there was a lot of speculative sort of froth in the market in this selloff has been pretty classic with lots of small retail liquidation in the retail exchanges and big chunky by orders on the sort of institutional places like that. it looks like you have a lot of retail selling and liquidations that were leased to the party in the high 30000 for the price of bitcoin and you have bigger institutions using to sell off to get into the market. there's a lot of institutional buyers that have come to the conclusion that they should have some part of their portfolio in bitcoin. 1%, 2%, some people of course like michael sailor at strategy is putting a huge amount of their assets into bitcoin, so the selloff
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was certainly anticipated by those in the market. everyone knew at some point it would need to retrace and it could go further and could go down into the 20s, but there is a lot of money on the sidelines looking to get in. of the long term, i certainly believe the value of bitcoin will increase over the long-term. selloff has been a healthy one for the price. the market needed to clear a little bit. stuart: chris, we had a guest on the show yesterday who is trying to sell to bars that he owns in new york city and he's selling four bitcoin, not regular dollars, but the bitcoin. that makes him a bitcoin investor. do you think we will see more of this? >> well, i think that the more people for restaurant or a bar or house or a car, there
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will be more that, but i don't think bitcoin will become a prevalence instrument of exchange. the classic definition of money is a unit of measure, you know how do you value things, a store of value and an instrument of exchange. that is what money historically is accused of four. bitcoin has become a very popular store of value. is not a particular-- particularly good instrument of exchange it's a slow, cumbersome compared to other cryptocurrency and digital assets that do hold that possibility and so some will like a bitcoin, but i don't think it will be prevalent for people that do a lot of transactions in bitcoin. stuart: okay, just don't lose your password. chris, thank you. now, if i miss extraordinary. as of tuesday, nearly
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20 million doses of vaccine have been shipped, but only 9 million have been used, that's injected, that's not good. we will hear more on that in my tech at hhs secretary alex azar will join me later in the 11:00 o'clock hour to give us his response. at general motors goes all in at the consumer electronic show by unveiling electric cars and even a flying taxi. you will see it all after this. ♪♪ ♪♪ ♪♪
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stuart: what we have on the right-hand side of the screen is a steady-- they are in bit-- debating impeachment rules on the house of representatives. left-hand side, the stock market. on the day of a second impeachment, no big selloff. might find that a contradiction. we have general motors rallying again and i believe right now it's about $50 a share. but spring and gary gas while. this rally with gm and
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it did hit $50 a share, the rally is on the back of their electric car rollouts. what's your judgment about electric car rollouts compared to the competition? >> stuart, general motors knock it out of the park yesterday with a communicated very detailed plan for its rollout of 30 electric vehicles by 2025 and a further transition of all electric, electric cadillacs, electric pickup trucks and all new electric van brand called bright drop that no window is in the works that could be launched later this year with a 250-mile range compared to boards electric transit with 126-mile range later this year. the most fun part is when general motors head of design said casually and by the way here is a flying cadillac we are thinking about. that won't come soon, but it's the sort of jews the millennial's robin hood type if investor likes. as far as the rest of the plan, it's in the works being executed even quicker than
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expected. that's in stark contrast to tesla which often misses deadlines, although it still has the crème de la crème of technology. general motors will have to prove it can compete with range, battery charge and price. stuart: their correct expression there is general motors knock it out of the park. gary, you know what you're talking about thank you. gm stock did hit over $50 a share earlier, but now it's 49.10 with the final rally. we still have a big show ahead. still to come, ben domenech, ron paul will be with us and hh s secretary alex azar and will.i.am all on the show today, the second hour of "varney & co." straight ahead. ♪♪ (judith) but not for your clients. that's why we're a fiduciary, obligated to put clients first.
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♪. stuart: i want to get away. i want to fly away. lot of people in new york city saying that right now. it is 10:00 here on the east coast. we got a jam-packed show for you. i tell you again, mark tepper this hour, tom homan, steve cortez and ron paul, all this hour. next hour, todd piro, deroy murdock, hhs secretary alex azar and will.i.am prothe black-eyed
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peas. the markets are not in sell off mode. far from it. i see green on the screen. not much but it is there. despite a impeachment vote coming up today, a leaderless republican party and a divided republican party, despite all of that, no selloff. the dow is actually on the upside. so is the s&p and nasdaq. got that? now this. it's a political 180, historic and dramatic turn in the space of one week. after seven days of political turmoil the president is effectively no longer the leader of his party and he now faces impeachment. senate leader mcconnell believes the impeachment effort is warranted. that is a big deal. his wife, transportation secretary elaine chao has already resigned from the cabinet along with many others. liz cheney, chair of the gop conference committee, will vote
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for impeachment. at least five other republicans in the house will follow her. this leaves the republican party leaderless and in complete disarray. the president retains his hardcore base but the rest of the party is not eager to have him around for the next four years. as brit hume at fox news, he said, trump will be quote, a curse on them. the president's approval rating sunk to a new low of just 33%. this remarkable one week turn around will have a long-lasting impact. for a start, it puts the republicans in a difficult position for the elections just 22, 23 months away. a badly divided party, engaged in a civil war between moderates and hardcore trump supporters is in no position to wage an effective political campaign. secondly in the short term the position of the incoming biden administration has been significantly strengthened. the new team takes power on a wave of revulsion at the events
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just a week ago and a much weakened republican opposition get as shot in the arm to their agenda. what a shame. president trump achieved a great deal. a vibrant economy. control at the border, energy independence, a clear conservative majority on the supreme court, confrontation of our enemies and a much-needed military buildup but all of that can be overridden, almost overturned because of the president's downfall. after al gore lost to george bush in the year 2000, and after hillary clinton lost to donald trump in 2016, the left moved on. perhaps it is time for republicans to do the same? the second hour of "varney & company" is about to begin. ♪. stuart: and we have this coming at us this morning. youtube suspending president
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trump's account for seven days, due to quote, a potential for violence. come on in, ben dom "the federalist" founder. i read "1984", george orwell's book a long time ago. seem like we're in a world of constant surveillance, group think, what would i say? >> i remind you george orwell concerned about the level of censorship we saw from private market actor as he was from the powers that be in government. i think that is really what we're going to see and it is going to extend far beyond the president. for so many years we've had that michael jordan line about republicans buy sneakers too as the motivation for why major corporations have tried to stay away from partisan politics or anything that smacked of going after people because after
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political view they might hold. now what i think we're seeing is, certain motivation that doesn't have to do as much with profit or dollar signs and has a lot more to do with the woke religion that has taken over a lot of these companies, particularly i think in silicon valley and the world of big tech and when we talk about things like social media i think that's a little bit after shiny object. it's a distraction from the kind of impact we're going to see when places like amazon will no longer provide web services for places that they deem to be out of the pale, beyond the pale, when it comes to the political speech they're engaged in. it is about the guts of the internet. whether you can get power and water and use the roads and highways. those are the sorts of things we're going to be confronting, i think unfortunately stuart that will lead to increased bifurcation of the internet particularly right-wingers go into essentially hiding into dark corners of the internet where their ideas are going to
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be bouncing off each other as opposed to engaged in the broader sphere, figure out how the 80 million biden voters can live in the same country as the 75 million trump voters. stuart: you're almost talking about two internets competing politicized internets? >> yes. stuart: is there anything we can do to stop that from happening? >> it has to start with the major players in the marketplace deciding how much they're willing to push back against calls to cancel, to shut down, to undermine people based on their political views. you know keep in mind these terms of service engagements that they have are essentially -- the rules can be changed at anytime. it is not something really forms the type of strong contract i think you would like to see. frankly i believe that better behavior on their part could lead to a situation where we come to have more peace with each other. unfortunately i don't think that is the direction we're currently headed. stuart: i agree with you.
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it is not a good direction we're headed in. thanks for joining us always appreciate it. >> good to be with you. stuart: want to get back to boring orwell's book, "1984". i read it years ago. guess what? it is back on the best-seller list right now. tell me more. susan: you want to ask how long ago you read george orwell's "1984". stuart: i read it in 1962, when i was 14 years old. that was my introduction to politics. >> what is old is new again. topping amazon best-sellers list. this is after twitter, facebook banned president trump off their platforms. we had parler being shut down being kicked off, amazon, google web services and apple app store. the 1984 novel what would have happened if fascism won the wars by silencing voices. big brother manipulation. readers drawing a parallel to the story from the recent
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events. what do you think? does it remind you of a orwellian reality? stuart: yes, yes it does. another book from orwell everybody should read is "animal farm." gave that book to all my teenagers said they read it about authoriatarian system, communism by any other name. susan, thank you. the white house getting into artificial intelligence. what is all that about, lauren? lauren: they created a we call it a national nucleus for a.i. research. national artificial intelligence research office. it will be under the office of science and technology policy. this is recently passed defense authorization act. what this does, prioritizes a.i., coordinates with the private sector. you have vendors like palantir, clear view, they have lucrative federal contracts but this
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office woe formalize deals like that going forward. stuart: got it. thanks, lauren. bernie sanders set to play a major role to help shape biden's economic agenda or help get it through congress. ashley, what is bernie's plan? ashley: let's put it this way, stu, he is salivating at possibility of a budget committee. sanders intends to use budget reconciliation measures to fast track budget and related matters heaysillelp hng fami es. al hle nee innhatcena dwoul awoulululimululajitaj no ino i wtou ieqre unamonausni orsusurotmsutmmmm democrats as t te isssplit0-0-500-0- pridenesectelidenelels s see kkselyloly wlyitit sdersan that ithdencludesde a 15-dolla a derainimage wagee andtron su t forabor uononononon st st:rt, a heeeants toetet rid t fibusre you
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can rai taxes with w jt 5 te thatthatatatats wshat wantsan. as: : : rt:uart hee getet.t. ecchechehehe marke mts. mts. 'r one terettyre much. this is no huge move either way. left side the house is debating impeachment rules. mark tepper is with us, our market guy in the 10:00 hour. mark, a lot of our viewers will not understand what is going on here because we've got an impeachment vote in the house, a leaderless republican party, a badly-divided republican party, and bernie sanders flexing his muscle. seems like the markets are not worried at all. you want to explain this to our viewers? >> yes, stu. it is crazy, right? i mean the market is up this year. it is up a little bit today. because it is quite frankly it is head over heels in love with stimulus. we're talking trillions and trillions of dollars that the market is really dependent on right now. what is actually more important, in might have opinion is that
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the russell 2000 is up like 8% this year, right? i would expect this love affair to continue probably through the first half of this year, stu. then in the second half the market will have to realize that somebody will have to pay for all of this new money. that is when it starts looking at potentially higher taxes in 2022. if that corporate tax rate goes from 21 to 28%, earnings will have to come down. the second half of the year might not be quite as nice as the first half. stuart: nobody's telling me to sell, mark. everybody that we talk to from wall seat says, yeah, we are going to do just fine in 2021. you're okay if you buy some more of that stock. nobody is tell me to sell. that worries me. >> yeah. it should be worrisome but where else will you put your money? i talked to you before about tina, there is no alternative. i talked to you about equity risk premiums that measures whetherring stocks are undervalued or overvalued relative to bonds. right now stocks are still
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undervalued relative to bonds. the street is expecting record earnings for this year. a lot of that will be back loaded in the second half but things do look like they're getting better, at least on wall street. stu, as you know, there is a big disconnect between what is going on wall street versus what is happening on main street, right? businesses are just shuttering. stuart: question. i'm still waiting for a really big sell signal. i have not seen it yet. mark tepper, you're all right. thank you for joining us. >> thanks, stu. stuart: thanks, mark. administration is making changes to help speed up vaccinations. health and human services secretary alex azar joins me in the next hour on the speed-up of the actual vaccination process. president trump made his final trip to the border as commander-in-chief. watch this. >> it as strong as you're going to get and as strong as you can have and we can't let the next administration even think about taking it down if you can believe that. stuart: well, question, will the
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stuart: the restaurant review site, yelp, you know you to there to find out what the food's like, what is the wait staff like, et cetera, et cetera? they have a new feature. lauren what is the new feature? lauren: it's a safety feature. it is sign of the types. you can rate how the restaurant is taking precautions against covid-19. are the tables six feet apart.
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is frequent sanitizing taking place? are the staff wearing masks? if the answer is no, you see a bright yellow or orange question mark that appears. there is also some other questions that this tool answers. for me i always want to know, oh, is the outdoor seating heated? so the restaurants can give you that information as well. the menus? sometimes i still get a regular menu. i always say, isn't this supposed to be disposable or pop up the menu on your phone? is hand sanitizer at table? they let you know to feel more comfortable. stuart: there is a sign of the times there is nothing wrong with that. these are the covid times. let's adjust to them. lauren, thank you. two more companies is spended contributions to any republican that challenged the election results. who are we talking about? susan: walmart and disney joining a list of companies specifically withholding donations to gop lawmakers who voted against certifying the
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election results. these are heavyweights because walmart is the world's biggest retail chain. disney the world's biggest entertainment company. joining jpmorgan, coca-cola, 3m, marriott, will specifically not donate to the gop lawmakers. you see scrolling list of big blue chip companies including facebook and microsoft they will pause on pac donations to both sides of the political aisle. if we had google by the waycrossing the tape. google is pausing all donations as well to both sides. according to one analysis corporate pacs, they make a lot of money, donate a lot of money to d.c. nearly $100 million to house members last election cycle. $27 million to senators f that money is not filtering through it is a big deal. stuart: it's a big deal, but sounds like censorship to me. censorship of any conservative opinion. susan: caveat, we know there are more than 40 big blue chips pausing donations. most say we'll endonations paws
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for now both sides of political aisle. stuart: both sides. we'll see. thanks, susan. google says it will pay daca fees. d-a-c-a. the deferred action for childhood arrivals, right? basically dreamers. they will pay fees for over 500 dreamers. ash, come in. what is it all about? ashley: google is making a 250,000-dollar grant to united we dream. that money is said to be used to cover the daca application fees for more than 500 dreamers. in a blog post google said, quote, it is important that dreamers have a chance to apply for protection under the program so that they can safeguard their status in the united states. google says that due to the economic hardship brought on by the pandemic, there is a concern that dreamers will not be able to fay for their application
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fees. google calling for comprehensive immigration reform that says it is more humane and gives greater assurance to immigrant workers. stu. stuart: ash, we hear that, thank you. there are new reports show another migrant caravan is forming up. it is heading to the united states of the it is due to arrive right around the time of joe biden's inauguration. tom homan back with us this morning. tom, you were at the border with the president yesterday. the president i know auto graphed the wall. he signed his name on a portion of the wall. do you think the biden administration would actually try to take down part of the wall or the wall itself? >> i don't think they would do that. look, despite all the rhetoric and political fighting joe biden knows walls first. in 2006 he voted for the secure fence which would spend up to $50 billion. he voted yes, hillary clinton voted yes. barack obama voted yes.
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chuck schumer voted yes. why? because they know walls work. walls do work. the data shows every place they put up a barrier resulted in decreased immigration and decreased drug flow. there is no downside on a secure border. i don't understand the politics behind it there is no downside less illegal immigration, no downside of less drugs. stuart: he will not build anymore wall. i simply can't see that. so, you know, are we really going to get to an open border situation when the caravans arrive? >> we are already started. i've been calling it the biden effect. i wrote an op-ed six months. this will happen if he wins the presidency. he made promises to put a moratorium on deportations. to end i.c.e. worksite enforcement. so i.c.e. can't arrest people on worksite if they're here illegally. promised to end remain in mexico. a aisle sum seekers will not have to remain and show up in
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court. never get relief from the u.s. courts because they simply don't qualify. it's a loophole. plus he wants to give free health care, right? you give all those promises to people around the world, he said you can enter the country illegal hi, you won't be detained because i.c.e. lost half the beds. won't be deported. made a promise more tore couple on deportations. free health care around get a job to displace american worker. no i.c.e. encoresment. illegal crossing attempts last month were up 80% from the same month last year. it already has started. stuart: tom, just for a moment i want you to put your police officer's hat or police official's hat on i know that is where you're coming from here. some democrats are suggesting that the capitol hill riots were an inside job. that is strong stuff. two capitol hill police officers have been suspended. several others are being investigated. what is your response to that?
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>> i hope it's not true. i'm friends with a lot of those capitol police officers. i saw the tape. you saw the tape. they're understarved. they were let down by the leadership. they didn't have proper staff. there wasn't proper planning. these men and women stood own the front line, put their lives on the line. protected lives of people in congress, many who don't even like them. many want to defund the police, don't like law enforcement. many stood there took the hate and assault. they're american heroes. if there are people did something wrong involved with that, they need to be prosecuted to the fullest extent of the law. they're not above the law. they need to be held accountable. i hope and pray that is not true because these men and women deserve better. stuart: tom homan, thanks for joining us. we'll see you real soon. thank you, tom. appreciate it. the dow now up 20 odd points despite the impeachment debate going on in congress. the gentleman on your screens right now is the black eyed peas
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♪ ♪ express yourself ♪ ♪ stuart: more drama surrounding the inauguration. airbnb just said it will block and cancel d.c. reservations for the inauguration. susan what have you got? susan: that's right. airbnb trying to insure a safe and smooth inauguration day. yes, they are canceling reservations in the d.c. area. additionally they will prevent any new reservations during that time also in washington. guess whose reservations were canceled? you will be refunded. they will also reimburse host at airbnb's expense. the caveat, they add one extra line, that we've investigated whether some of the named individuals on january the 6th in the capitol hill breach had an account on airbnb. also pausing by the way, stu,
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this company is one of those specifically pausing donations to gop members that again was voting against certification of the electoral college votes. stuart: they don't want any association with any possible violence in the future and any association with the violence in the past. i get it is understandable but another difficult thing for anybody to have to live with. all right. thank you, susan. the republican party split with some key members openly voicing support for the impeachment of president trump. steve cortez is with us, trump supporter. look, steve, like it or not this is a badly-divided party and that you know, that does not bode well for the elections in 2022, does it? >> well you know, stuart, here's the thing, i will agree with you, the party is deeply divided among the powerful elites. what i mean by that there is a great debate going on, there is a great chasm between the visions for the party's future in corridors of power.
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what i mean by that new york newsrooms, k street lobbying offices in washington, d.c., halls of congress. there is really no debate, stuart among the voters. in other words the voters of republican have decided we are an america first, workers movement. let me put numbers behind this because we just got new polling out from john mclochlin. among trump voters 76% say they will not support politicians, for example, who vote for impeachment. 70% of trump voters state that they want donald trump to run again in 2024. so there is near unanimity among voters, among working-class people out in the united states about the future of the republican party. i will concede that there is a great debate going on again, among the power brokers but that is legacy issue of establishment politicians, people like liz cheney, who do not believe in america first agenda, who believe in war mongering and
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intervention across the world they have not bought into the america first vision but voters have. stuart: i don't think you can dismisleaders like liz cheney and mitch mcconnell in the senate. you can't dismiss them as the elites who don't count with voters. they do. you can't go into the 2022 election with a divided party. you can say what you like and it is divided mornings the elites but it is divided amongst voters as well. there are many, many trump voters who voted for him on november the 3rd who will not vote for him now because they did not like his behavior after the november 3rd election, who say quite openly he lost georgia, he lost the senate, because of what he was saying? >> well, you know i believe the senate was lost because georgia republicans would not stand up for the president and would not stand up for election integrity. i believe the loss in georgia --
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stuart: divided electorate. divided electorate. with the senate on the line, republican voters did not show up, that is a divided party, to the detriment -- >> republican voters stuart, in voter did not show up, particularly most hardcore, deplorables did not show up because they were rightfully so angry that georgia republican officeholders, people like kemp and raffensperger did not stand up for election integrity in georgia. they did not believe their votes would count in georgia, for valid reasons, because we believe for significant statistical as well as constitutional reasons that donald trump won the legal vote in georgia and that election was stolen from donald trump. unfortunately a lot of republicans in the state of georgia, officeholders worked against the truth and defied the president in that state which i believe then led to the senate tomorrow losses unfortunately. but here is the thing, stuart, the numbers show us that the voters are not divided.
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the voters are firmly behind president trump. these polls i'm citing were taken since january 6th. these are just polls of the last few days. as a matter of fact "politico" released a poll today, they asked republican voters who they want to run for president in 2024. more than twice as many people named donald trump as any other candidate. so we are still an america first party as far as voters go. enough again i will concede in the corridors of power in washington beltway, very different story. stuart: got it. we're going to agree to differ. this debate will go on for a long time to come. steve cortez, glad to have you had on the show. see you soon. >> thank you, stuart. stuart: what is it now? 10:30ish? i think it is. that means we got the latest on oil inventories, i see the price of oil at $53 a barrel. what is the latest numbers, ashley? ashley: we drew down more than expected. down 3.25 million barrels. that is about million more than expected. so you would say okay, we're
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using more, so the economy is moving more. saw unexpected build-up in distillates and gasoline supplies. crude supplies, down more than expected, stu. stuart: let's move on beyond oil. ashley we got this report. the fbi issued a dire warning of violence, the day before the capitol hill riots. what more do we know on this one, ashe? >> well as you say a day before the rioters stormed congress a fbi office in virginia issued an explicit warning that extremists were preparing to travel to washington to commit violence and quote war. that is according to an internal document reviewed by the "washington post." it also contradicts the assertion that the fbi had no intelligence indicating anyone in last week's demonstrations in support of president trump planned to do any harm. now critics say it's the starkest evidence yet of a
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massive intelligence failure. or perhaps more pointedly the failure to act on the intelligence that had been collected prior to the riot. stu? stuart: what a mess. ash, thank you. chuck schumer who is now the senate leader or will be very soon, wants to put capitol capitol hill rioters on a no-fly list. how would that work, lauren? lauren: if they're added to the tsa no-fly list, they couldn't board planes. law enforcement could better contain future threats wherever and whenever there might be there is substantial concern about another attack at the inauguration. we have beefed up security at the three airports that served d.c. and other places as well. the no-fly list, you know it, it was created in the wake of 9/11 to combat terrorism. adding certain trump rioters to this list would treat them as terrorists. so the tsa enforces the list but the fbi decides who is on it.
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stuart: very sharp-edged stuff. lauren, thank you. lauren: yeah. stuart: big tech is now censoring of all people ron paul. he says he was kicked off facebook without warning. well he is here on the show. he is going to give us his story. pandemic plastic surgery, what? yep. it's a thing. jeff flock --. straight ahead for you. ♪
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aerotrainer works for families, beginners, and athletes. use it anywhere. even strengthen your core while watching tv. head to aerotrainer.com now. aerotrainer's unique design allows for over 20 exercises for a total body workout, all while maintaining safe, correct form. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: well, this is a surprise. plastic surgery is surging? so we are told. jeff flock is with us.
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he is at a plastic surgeon's office near chicago. can you tell us what is behind this surge, jeff? reporter: well if you think about it, sir, perhaps you would figure it out. if you're looking into a zoom screen and everyone else is looking into your zoom screen, maybe they see some things they don't like. i'm in the geldner center. this is one of chicago's foremost plastic surgeons. you are about what to do, sir? >> i'm about to make lynn look even better. reporter: is that botox? >> question it is. reporter: is it about zoom or you're getting swamped. >> people should be listening to the content, should be paying attention what is going on but they're not. reporter: television is another problem but that is another matter. >> you're not looking at yourself when on air. they are. they spend the entire time gazing at themselves wondering what this he would change. we've seen a huge increase in number of people who look at
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themselves constantly and are drawn to their own image. reporter: show us, if you would, the thing that, they're asking for is the botox. that is in that syringe, correct? >> correct. reporter: go ahead. i want to stay distanced. >> important thing. you can stay close. the important thing we know what we'll be putting and where are we going to put it? so what i'm going to ask lynn to do, ask me to shower expressions show me where the muscles are. i will go right where the muscles are. that is how botox does it magic. >> lynn, give me a frown. yeah, relax. what we're doing we know that the core gators, corrugators, the muscles over there. i will add a little bit there. reporter: looks like it hurts. does it hurt? >> not at all. >> a little pinch. >> looking for the tail end.
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that will tell me exactly where to go. reporter: gritting your teeth, mr. varney. stuart: yes, yes, yes. reporter: no doubt. well, this procedure goes on. there are 13 of these injections before we're done. come back and visit us later. stuart: flock, that was absolutely fascinating that was one of your finest reports in the last two decades. that was gripping. reporter: i probably need it. stuart: for people like us. exactly [laughter]. jeff, you're all right. we'll see you later. let's go to markets, request not? change the subject. we've got a modest gain at the dow, it is 31,000. lack at that. s&p is up. nasdaq is up. i see some green over there. lauren, tell me the big movers. which are we? lauren: biggest movers are the wrinkles in my forehead, stuart. that was fascinating shot. reminder i might need a plastic
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surgeon. on to business, urban outfitters stock down 6%. soft holiday sales at anthropology. worried they have high costs and have not been able to negotiate leases to save themselves money. gap, tjx, under armour, ross, they're all down in sympathy. dropbox, look at this, they're cutting 11% of their staff. invisible app. folder on the computer that backs up your files in the cloud. doesn't need as many workers sinceth mostly remote anyway. the biggest mover, number one on the dow, s&p 500 is intel. a lot of news here. intel, up 8 1/2%. they say fourth quarter profit and sales will top prior guidance. ceo bob swan is out. he will be replaced by pat of vmware. vmware is looking for a new ceo. down 7% today. stuart: big deal. lauren, thank you very much
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indeed. show me zoom please. we were talking about that with plastic surgery moments ago. zoom will sell over 4 million shares. they want to raise fresh capital. how much are they looking to get? susan: 1 1/2 billion dollars. 5% discount you're getting here. that is 10 times more than zoom's ipo price. the company is using money to buy other companies or what they call strategic invests. speaking of listings i want to show you another high-profile unicorn going public today. the lender affirm. billion dollars. way above the last indicated range. $49 a piece in this ipo. but if you look at the indicated open, stu, again this will go back to a broken ipo system, the unicorn frenzy continues. they're set to open at $90. that is 100% up for this unicorn when the first trade happens, hopefully in the next few hours. what it say who makes the money?
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we talked about this. should go to those work at company, early investors, early employees get paid, they should get paid when the stock goes public, shouldn't they, instead of wall street? stuart: in this case they don't. susan: right. stuart: who gets the money in a situation reich this? who walks away with all the money? susan: the same thing with airbnb and doordash. big funds, t. rowe prices, big hedge funds have established long relationship with investment banks, guest allocation in $94. less than 12 hours turn around and sell it at 100% profit s that fair? stuart: no, it is not fair. they need a new system. that is for sure. thank you, susan. i'm sure you were watching the plastic surgery segment as well as were we all. i'm moving on. moving on. megamillions lottery continues to grow. what's the jackpot now, ashley? ashley: i can tell you can afford all sorts of surgery. a cool 750 million bucks up for grabs in the next drawing friday
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night for megamillions. fifth largest jackpot in u.s. history. the jackpot refers to the winners who decide to take annuities paid out over 30 years but nearly all jackpot winners take the cash option which would be estimated 550.6 million. again the odds are hitting megamillions jackpot, one in about 302.5 million. stuart: you know, if you though in the, what is it the powerball as well, the powerball jackpot, combine them together, megamillions and powerball, $1.3 billion up for grabs this week. ashley: powerball is 550 million if you're not interested in the powerball -- megamillions. stuart: millions are interested
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in the covid vaccine but what happens after you get it? good question. do you still wear a mask? can you still spread the virus? health and human services secretary alex azar is here with what you need to know. big tech now censoring ron paul? the former presidential candidate says he was kicked off facebook. he joins me next. ♪.
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may have insulin resistance. release effectively combats insulin resistance and will help you lose weight safely and effectively. release: available only at golo.com. stuart: president trump is not the only one censored by facebook. believe it or not former texas congressman and presidential candidate ron paul says he was blocked for allegedly violating quote, community standards. ron paul joins us now. first of all take me through this. what were you kicked off for? >> well, we're still figuring it out but i can tell you what they said. you mentioned the word, community standard but i think the confusion came from, i sort of lean toward looking at finding out what community standards are, don't you watch cn in?
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that is where you find out what the community standards are. that was written in "the onion" or someplace. that is absurd what it is. when there was a lot of noise expressed after that, maybe i have one or two followers out there still, hey, what are they doing. he preaches freedom and non-violence and peace. how can you say he is committing an act that is going to encourage violence and war and all these kind of things? so it's very strange. i think then they backed down and said, oh, the next day, they said, we made a mistake. so i don't know where the mistake was or what they did but the whole process as far as i'm concerned is a mistake because it is so unnecessary to have our monitor and our censors lined up with social media. stuart: absolutely. 100% agree with you. how about corporate america? some major corporations are putting a hold on all political contributions. what is your take on that?
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>> well, it is an example of something i've talked about for a long time and others have, sometime it sounds like you're coming from the left because we talk about corporatism. corporations that get involved. and they really are the socialists and when you have corporatism at an extreme level you are moving toward fascism. this is, this is true. i had the hardest time over the history of my study on history and politics with, that they said that business people actually helped the nazis get in power in germany. impossible, i said. they're free market capitalists. no, when you study that, history has shown that they were involved and right now you can see corporatism, which is completely different than free markets. you know, me, stuart, well enough, there is a difference between the average person talking about free enterprise. i think every democrat would say we're for the free enterprise
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system and constitution but it doesn't work out that way. so it -- stuart: sorry, it seems like we're moving towards a position where in public on these social media platforms, any platform you choose, you got to agree with that thin, narrow opinion. that is what you have got to agree with. last word to you, 20 seconds, ron. >> well, it all came about because of government interference. the government helped, had a big effort in creating the internet. they pay a lot of money to the internet now for national security reasons they want that information. they are an arm of the government. they get funds and -- stuart: i'm out of time, ron. i'm sorry. i'm out of time. ron paul, thanks very much indeed. more "varney" after this.
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call today to learn more or to be connected to a local agent in your community and we'll send you a $10 visa reward card with no obligation to enroll. >> this is an ill considered move by democrats. pelosi admitted impeaching him twice and convicting him in the senate would basically prevent him from running for office again. i think this is incredibly stupid. >> i certainly believe the value of bitcoin will increase over the long term and this selloff is in a healthy one. >> economists are convinced we will have the fastest way of economic growth in the u.s. since the year 2000.
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>> yeah, we are still climbing out of this cavern from covid. i think the good news is this is probably the last quarter of earnings recession. earnings will be reasonably strong. ♪♪ ♪♪ >> host: alright, why are we playing the black-eyed peas? i tell you, because we have will i am on the show later this hour. yes, it is right now 11:00 o'clock eastern time here on the east coast and it is wednesday, generate 13, straight to your money maybe you are surprised to see this but i see a lot of green, especially on the nasdaq and is up 79 points. this as the house and debates impeachment of president trump and republicans walk away from their party leader. you would have thought maybe that that would hurt the market
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but not so. no selloff as of right now. now this. as of tuesday, that's yesterday, 27.7 million doses of vaccine had been shipped but only 9.3 million doses had been actually injected or used and that is a very poor performance. the vaccine rollout is the response ability of the states and it is not gone well. what went wrong? answer. bureaucracy and politics. the bureaucrats were slow to set up an efficient vaccination process, very slow. in israel the authority set up mass inoculation sites at public stadiums and inoculated 20% of the entire population in three weeks. the best performance in the world bar none. we could learn a thing or two. politics interfered as well. in new york state, for example, the government governor andrew cuomo created a complex formula
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of who got it first and it was based on age, occupation and which job a worker actually did. that proved to be very confusing. when some healthcare workers refuse the vaccine officials were uncertain if they could use the dose on other people and some were just thrown away. the governor said he would go after them if they did that. you know, give the dose to another person buried the governor said he would go after them if they vaccinated people who were not immediately eligible. the results, doses were wasted. at the federal level the trump administration worked wonders to develop a vaccine in just ten months but at the state level the ball was too often dropped. now the good news, the administration will release many dems vaccine giving to the state's fastest bird recommendation is just get on with it. drop the politics, cut through the bureaucracy, quit wasting a golden opportunity to beat this
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thing. good advice. this is the third hour of barney and company with health secretary on the way. ♪♪ >> host: let's get to the economist. a well-known economist is steven roach who says the v-shaped recovery is quote, in tatters. obviously, not going well according to steven roach. david lawrenson joins us this morning. david, you follow the economy as closely as everybody, is the v-shaped recovery in tatters in your opinion? >> you know, i love steven roach and worked with him at morgan stanley for many years and steven is called trending of the last three recessions. i think we definitely have a good justification for being
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skeptical and concerned and cautious about the outlook for economic recovery. it is fragile and we don't want anything to go wrong and the debate is not whether or not it will be v-shaped any longer but clearly it is v-shaped. the debate is how severe that right line will be as we keep going forward and doesn't taper down a little bit even as it continues moving forward. i think the speed of the v-shaped might slow down. >> host: i know that you primarily follow stocks or companies which are increasing their strong dividend but let me just ask you this with the big picture for a second. put all that aside. the big picture we are about to have a mountain of money, gusher of money, go straight into the economy. is that why almost everybody is bullish for 2021? >> it's a combination of factors and that stimulus factor you bring up is only a continuation of what has been going on for a
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long time. you both the monetary and fiscal side and its continuing into 2021 and that is just this new eight or 900 billion-dollar bill and we know there will be another bill as well. there is certainly optimism and some of it justified and some of it not because some of that money will go into a black hole and it will be very wasteful. overall i think markets do like the idea of this money sloshing around but i don't want people to misunderstand. the monetary side is far more important. unemployed people getting an extension around appointment, we can have debate about what we think about that as far as social policy but from a market standpoint it is somewhat insignificant and more relevant to those people and their financial position. what markets care about is the trillions of dollars to get sloshing around in terms of quantitative easing and no interest rate environment. that is the big deal stuart. >> let's talk big tech companies for a second.
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you say there is now risk in a big tech investment, make your case. >> well, of course i said it last year to that the stocks rallied huge. i will be very, very honest that this is not at timing call. the events over the weekend, some of them were not surprising to me and some were utterly shocking but all i would point out is this is another action that comes on top of valuations that are through the roof. nasdaq there was up 42% last year, forward multiple, forward price earnings ratio
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>> the president's actions demonstrate his absolute inability for the most fundamental powers and duties of his office, therefore the president must be removed from office immediately. stuart: there you have it speaker pelosi calling for the second impeachment of president trump. so far, five republicans in the house say they will vote to impeach the president and there may be more when the final vote is tallied. the roy murdoch is with us his morning parade what is the split with the president say about the future of the republican party in his leadership? >> good to talk to you obviously this is not a good thing. the five republicans said they would vote for impeachment and perhaps others, playing into nancy pelosi's hand and the hands of the left they want to drive a wedge between president trump and the 75 supporters and the rest of the gop and create
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total havoc within the republican party. this is not just an impeachment of trump this is the 75 million voters in an attack on republicans, not those who were anyway involved in the rally last week where we could go but people who voted against the electors in arizona and pennsylvania, remember 2051 senator barbara boxer, 31 house democrats voted against the electors from ohio, they did not have the contracts canceled senator josh hawley did last week, three of them went on to write books including the fiction debut just a few months after the vote. a total double standard in attack on the right and includes things like shutting down social media accounts, closing down parler, eugene robinson saying the trump supporters need to be deprogrammed and abc news sayin. stuart: i've got it all. i see it. but don't tell me that the republican party is not divided.
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it is chronically divided. >> it is. stuart: fox news, the man said many people in the republican party regard trump as a curse on them. that is profoundly divided. it doesn't matter whose fault it is, what is the republican party going to do going forward as divided as it is. tell me, who leads the republican party at this point? >> at this very moment i'm not sure that anybody does, obviously we need to have someone in the party, i'm a big fan of ron desantis of florida he's doing very well with the covid-19 virus and his response to it. it is a vibrant state and obviously low tax, no income tax he represents a most all the things in which president trump and his supporters believe. but as i say i think this is an effort by nancy pelosi and the left is what the gop and unfortunately of members of the
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gop participating in the parties own demise and that is shameful and not very good politics. stuart: joe biden's inauguration theme will be america united, you've got an op-ed and your headline is job biden is a divider not a uniter. you can make your case. >> we have heard from joe biden on the campaign trail who will bring us together, unite the country, lower the temperature, he gave a speech last thursday where he could've said i want to thank mike pence for reciting the college, and kamala harris will be inaugurated in 13 days and we can't wait to get started, instead he attacked president trump and very nasty terms, lied about him the military against peaceful protesters at lafayette park, that was a u.s. police, a lot of things untrue in that speech he was very angry and snarling i waiting to see joe biden do anything to bring america
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together, he could've said this impeachment is absurd, the present will be gone in one week, let's let them leave in peace, instead he has une speaking about impeachment rather than joe biden's agenda and cabinet and were not talking about his ideas improving our country instead were engaged in a divided gop screaming at a unified democrat party. i do not see this bringing us together and so far in terms of uniting our country he's less like mr. rogers and more like oscar the grouch. [laughter] stuart: good laugh line. thank you for joining us, we will see you again soon. the capital building beefing up security in the wake of the riots but not everybody is pleased about this. tell me more ashley, what is happening. >> we are talking about metal detectors, house speaker nancy pelosi requested them to enter the house floor but several republican congressmen are not happy, some bypassing those scanners, a number of republican members were seen not complying
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with police at checkpoints or complaining about long waits to pass through, were not seen that in this video but believe me newly elected gop member lauren of colorado refused a bag search and tweeted the metal detectors would not have stopped the violence last week and called another political stunt by speaker pelosi. we should also mention that inside the capital building today, hundreds of national guard troops brought in to reinforce security as the house discusses impeaching president trump, quite a sight some trying to grab sleep in the hallways and lobbies as they work around the clock to provide security. what a site that is at the u.s. capitol. stuart: what a site that is, national guardsmen all over the place. thank you ashley. airbnb said it will block and cancel d.c. reservations for the inauguration. we need more on this susan.
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susan: to ensure a safe inauguration process airbnb announcing reservations at the d.c. metro area next week and on the 20th will of course be canceled and even those that want to book now you will not be able to. you will be reimbursed and refunded in full and host airbnb will engine reimburse the host that are booking, it's interesting they're doing this and announcing their investigating those on the january the sixth we've investigated whether those names and individuals have an account on airbnb, it looks like they're trying to ensure a safe inauguration day but can you imagine a boost up the availability of hotel rooms and what do you do if you're headed there to the d.c. area during that time. stuart: what it also does absolve them of liability for any part they may or may not play in future violence, if they say you cannot stay airbnb, that absolves them of liability, i
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think they're in the viability protection business. susan: that make sense or trying to hedge on the downside and hedge on the risk. stuart: exactly, precisely what they're doing. some airlines will probably not fly people in either. that's a development you might see. thank you very much indeed. let's go to the market and individual stocks that are moving starting with walmart, they will deliver groceries to temperatures controlled smart coolers on customers doorsteps. it is a pilot program that kicks off in arkansas in the spring. walgreens launching debit and credit cards with synchrony financial and mastercard. the cards were rollout in the second half of the year, $48 a share. walgreens. target, reporting blockbuster holiday sales, the stocks down, give me the numbers lauren. lauren: same-store sales of 20 3.2 percent, customer spent on average 12% more, those are the
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overall numbers and they are good but look at this online sales, they doubled, this is driven by new and popular same-day services whether it was drive-up, by online or pick up or ship, those services triple but investors may be worried that vaccinations come, is stops the growth but i wanted to leave you with one final thought these results don't include the tie up with old tub beauty where you might see a surge of people in stories buying the beauty products in target. usually the store and store concepts do well, this is not started but they do have the deal in place. stuart: lauren thank you very much indeed. one of the largest school districts in the country will soon require students to get the covid-19 vaccine we will tell you where that is happening. so far nearly 10 million people have gotten the job in the u.s. but does that mean it's okay for
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them to stop wearing masks or keeping social distance. health and human services secretary alex azar will answer those questions for us. he is on the show next. ♪ research shows people remember commercials with nostalgia. so to help you remember that liberty mutual customizes your home insurance, here's one that'll really take you back. it's customized home insurance from liberty mutual! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ metastatic breast cancer is relentless,
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stuart: more than 27 million doses of the vaccine have been shipped across the country but fewer than 10 million people have actually gotten the job, health and human services alex azar joins us now. mr. secretary at the top of the hour and an editorial i said in my opinion is bureaucracy on politics that are holding up the rollout? what you stated that and what can you do about it? >> i think there's a lot to be said for that, we had tremendous success in operation warp speed we have two incredibly effective vaccines, the manufacturing is working well and predictably so we moved to the next phase, we have 38 million doses of vaccine available and as you said only 27 million have been distributed because we don't have orders for all the vaccine that we've got. we gotta get the states to accelerate their administration by opening up the aperture to
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more people, they've got open up to age 65 and above, age 64 in a blow the comorbidities and risks because this is the way we to enter protector most honorable citizens. some states are at 80% of vaccines administered that they received, some like new yorker at 30%, the micromanagement bureaucracy from the center has to stop. stuart: can you make them stop or are they still very much in control? >> there of necessity in control of it but i think you're seeing the reaction people are putting a lot of pressure on the governors to open it up because i've seen success rate like governor lamont and governor justice in west virginia, they are using their vaccine and it's a model for other governors. stuart: i got a couple of technical questions. what happens after you've gotten the vaccine, do you still need to wear a mask, do you still have to keep social distance,
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can you carry the virus and spread it even after you been vaccinated. >> that is a key question were working at nih in the manufacturers to get to the bottom. we know these vaccines can protect you from the consequences and severe consequences of the virus. we don't yet have data sufficient to say that you can't get the virus and spread it to others, there are hypotheses that that's a case but we need to work on the science and the data before we can say definitively so now are saying if you get vaccinated where your mass, practice social distancing, do those things but that has to be a key priority to generating the data. stuart: we understand sometimes the vaccine is being offered to healthcare workers and they rejected it, they won't take it and that vaccine of the bile has been open they have to throw it away. what can they do about that?
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>> that's why you gotta make sure you're vaccine a administration program have enough people in them and you go broad enough. it is tragic if you were to open a vial and not use every dose and it. if you're doing a healthcare provider vaccination program you need to make sure you've got people lined up to do that to use every dose but then vaccinate a senior citizen, vaccinated patient, get somebody vulnerable vaccinated. i would rather have it used on lower priority individuals then thrown away. and i would rather have lower priority individuals get vaccinated than to sit around waiting for the perfect to be the enemy of the good to get all high-priority people first. stuart: doctor fauci says there is a new variant of the virus that has been found in south africa and it could pose a threat to antibody treatments. would you explain that to us and tell us if it's something to be concerned about for the future?
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>> first for your viewers it's important to know we've seen thousands of mutations of this virus, that's what coronavirus is due. so far with regard to the vaccine there is no evidence those mutations impact the protection of vaccine. what dr. fauci has said with a south african variant we've gotta gather the data, we've got to test it against regeneron and monoclonal antibodies to see if the antibodies in those cocktails or those monoclonal's do they work against the strain of the virus. we don't know that it doesn't but we have to actually test them to make sure they remain protected. stuart: what is there to say we might be in for a series of variance down the road, that is series of viruses might come out as, are we going to be in this very difficult situation for a long time to come because we don't know what variance are going to come at us?
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>> it's hard to predict but were now over a year into this, as i've said we seen thousands of variance and mutation of the coronavirus. you would be hard-pressed to find the united states at this point any instance oal chinese e virus. it is marked in change so reassuring with thousands of mutations we haven't seen a material shift in the nature of this virus that in any way impacted monoclonal in a bodies, viral therapies, or vaccine works. that is reassuring that we will have to look and study to make sure that remains the case. the year end 22 million cases, thousands of variance and were still on track. stuart: got it. mr. secretary thank you for joining us. always appreciated. >> my pleasure stuart. stuart: students in los angeles will be required to get the vaccine in order to return to
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and person classes. this comes as new york city starts vaccinating teachers. christina park to level us with us now, does this mean schools in new york are about to reopen? >> i wish i could say that is the new norm but remote might be here to stay until at least the end of the academic year. there has been a sluggish start to the vaccine distribution and more importantly no specific vaccine for students and kids, the current ones have not been tested on very young children, here in new york, you have teachers that have now been prioritized and they can be candidates for the vaccine but mayor de blasio, although he said he prioritizes teachers who are working in person, he did not explain how it's going to work. >> we are going to reevaluate everything and certainly offered an opportunity for folks to come back who previously have been doing remote but we are not
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there yet we are of course watching very carefully how many of her educators and school staff are getting vaccinated. >> there is no system in place to prioritize in person teachers, somebody was teaching remotely can set up an appointment in new york and bypass those that are heading to the schools and teaching a person. we know there's a lot of remote across the state, take a look at the covid case map just as of last night it was over 100 schools that have been closed due to the spike in covid cases. unfortunately, this might take a lot longer than we anticipated. stuart: i've heard that before, and convey much indeed, next case something completely different, and enough all-star, football star thinks he has what it takes to host jeopardy in the off-season. we will tell you who it is coming up, black-eyed peds star will im helping to raise millions of dollars for students and underserved communities.
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he is going to join me with more on his mission and a brand-new using video. stay there, more "varney" after this. ♪ before we talk about tax-smart investing, what's new? -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these. lemme guess, change in plans? at fidelity, a change in plans is always part of the plan.
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great pleasure to have you on the show, i love your music, welcome to "varney & company". >> thank you for having me. stuart: sure thing, the american dream fund, trying to raise money for education, where exactly is the money going to go. >> i been doing this program for ten years, my partners like ron conway have been helping me for the last ten years, 100% of our kids graduate, i started off with 50 kids in 1500 kids in the ghetto wearing from, we have her kids learning computer science, robotics, we put them on a track to go to college via college track life partner there in my neighborhood. and we want to serve more kids in that community and spread out robotics programs around america. our kids are also a part of a
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robotics program with our partnership, first robotics and we have had so much success that we think and we believe the other kids in similar conditions in their community deserve the same skill set training and mentor ship that the kids in my neighborhood have received for the past ten years. stuart: this is terrific stuff, can you use some of the money to get the kids back into the classroom? because remote learning at the moment seems to be a real failure. can you use the money to get them in the classroom? >> it is about safety and keeping kids safe during covid, it was a tough year in 2024 our kids but our kids did graduate this year and off to colleges. but a lot of our kids struggled
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because of wi-fi not having wi-fi in their communities, the money that we are raising is going to help stabilize their connectivity while their learning in this year until it's safer kids to enter back into the classroom. not only the kids but the teachers, we are living in unprecedented times where the safety for kids as well as the path for them to end towards excellence is all compromise. stuart: will, i just want to say you're doing a fantastic job, you're doing exactly the right thing and thanks to you and your colleagues for raising this money to these kids, much appreciated and thank you very much for being on the show. will i am of the black-eyed peas. thank you. >> thank you so much. stuart: sure thing. let's change the story again. how about this, jeopardy is
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using a series of guest host after the passing of alex trebek. ashley come in, i understand a football star is going to step in, who is it? ashley: i offer that in the form of a question, who is packers quarterback aaron rodgers. he says that he grew up idolizing jeopardy host alex trebek but he never thought he would get the opportunity to host the show. he has, he will be one of the special guest filling in as host the season as jeopardy searches for a permanent replacement host as you mention alex trebek died last november. the new season started this week with ken jennings hosting he got very mixed reviews and he was the recordholder for most wins in the show's victory. but i should point out aaron rodgers was a celebrity guest on the show in 2015 and he won. he knows his stuff he not just the star quarterback he has a lot of knowledge too. watch out.
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stuart: do you think you could do that job actually? ashley: i would love to try, i love the show, it is so hard who can fill in for alex trebek, one of my all-time favorites but it would be fun to give it a go. don't you thanks to? stuart: yes, i watch infrequently but i can only answer one in ten questions. let's move on, thank you asked. disney reportedly in talks to move some of its operations out of california. lauren, obvious question where are they going? lauren: obvious answer, the state of florida. that's according to the orlando business journal. florida less regulation, lower taxes but the business under biggest reason for disney would be the difficult relations with california governor gavin newso. disneyland has been closed since march, no indication of when it can reopen, disney's theme parks
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in orlando are wide open. again, this is a report, no indication of which disney division if any move across country and then down south. but it's something that they are reportedly thinking about. stuart: we also had a report earlier today that microsoft is moving some of its people to miami. that is the same story, get out of california or whatever and head to the sunshine state. thank you very much. let's talk about disney+. one of the winners of the 2020 streaming wars, what else you have on the susan. susan: if you opened a tough order bureau, have my handout. disney+ winning the streaming wars last year out of the top ten movies that people spent time watching, disney had some wood to of the most-watched animated films, frozen two in lawanda and the man delorean, this is actually netflix lost in the weekly streamed hours grew less than it did last year some
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of the hours are going to disney+, netflix had a record number of subscribers in the first half and record number of streamed hours during the covid lockdown, 195 million monthly paying customers, disney+ had a blowout 86 million sign-ups in the first year of business and more competition as we know, hbo max, peacock, new contenders. stuart: thank you very much susan, coming up next we will show you a robot that vacuums, does the dishes and pours wine. we will show it to you. ♪ ses a little easier, with the vitamins and supplements you may need. now get a $10 gift card when you spend $30. cvs. healthier made easier. a must in your medicine cabinet!
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really? i'll check that out. oh yeah. i think i might get a quote. not again! aah, come on rice. do your thing. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: they are rolling out all the new high-tech products virtual consumer electronic show. kurt knutsson is with us from los angeles. show us the new items. choice what you got. >> happy new year, 174,000 people are not in las vegas to attend the first ever virtual ces, this year very much how it all started, tvs are huge this year, 57% more streaming of tv shows and videos going on so
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this is one of the most remarkable tvs i have seen so far. samsung, nio, q led line that will be coming later this year, has much smaller led lights behind it that bring the contrast ratio to a spectacular degree where you will really see some extraordinary content on this and what is great about it and what you want to know about buying your next tv it will up convert all of her old junk that is not 8k and make it through its artificial intelligence. that is genius. take a look at this robot will do the dishes and also apparently do your laundry and even pour you a glass of wine. it is called the bot to hand the it was a concept introduced as a whizbang or at the saint-saëns launch, not for sale yet. this very cool laptop, this is
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making a huge rebound as a result of the pandemic, the elite dragonfly max, i got my hands on early, this will come out later it is got a.i. driven audio inside, it can go to 5g, they took a look at how were using laptops now and brought that in and brought technology into that, the elite super laptop that you want to have and for carol bytes of data, stuff is getting smaller at ces. this is an extreme pro, 4 terabytes will fit on this when it comes out later in the first quarter and then i leave you with this, number two, the wellness toilet, toto has introduced this, i cannot imagine ever wanting my toilet to speak to my smart phone and analyze what is happening in the toilet but nonetheless they have done it and that will be coming out in years. you can sign up for my free
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newsletter and i'll keep you updated on the seat es stuff. stuart: i'm glad you spared us a demonstration of the toilet. thank you very much. we will see you again later, no matter what. check the big board please, remember everybody, this is impeachment day, the dow is virtually unchanged at 31000. more after this. ♪ . . .
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stuart: most intriguing story of the day, the surge in plastic surgery. did you catch this? we actually got jeff flock into a plastic surgery office. that young lady had agreed to do a botox injection on camera. how he did that i don't know. with all of us on zoom, a lot of us want to change the way we look. time's up for me. neil, it is yours. neil: there is not enough surgery in the world to help me out. looks intriguing. i will leave it at that stuart, thank you very much my friend. here pre on impeachment day the second go round for the president. the markets are shrugging. it is a second article of impeachment here, it comes down to this, the president gravely endangered the security of the united states and its institutions of government. what makes it more telling a number of republicans, at least five of them will go along with this toak
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