dagen: have their, final word. >> i think this week is about fundamentals, trading on market fundamentals. dagen: great to see you both, brian and have there . be safe. "varney & co." starts right now. take it away, stu. stuart: good morning. look, should we be worried about speculative froth in the stock market? there is a lot to worry about. by you in stock with borrowed money is an all-time high and that can be dangerous. the euphoria index is off the charts, that's not always a good sign and the stack, veteran analysts and frequent guest dennis gardner thinks tens of billions of dollars flowing into these higher ricks investment is a sign the bull market is coming to an end and he says it will end in tears.

you have been warned. here's an example of a market gone wild. games stock, the reddit and robin hood crowd who created volatility in the stock, $5 a share in july, $160 a share recently and this is the kind of speculative froth that has some people worried. this may be the stock of the day. there's enough speculative froth, this is microsoft and we get the report after the closing bell today. it's up 1%, 232, of dollars $2.50 premarket. same story with apple as they report tomorrow afternoon. premarket apple is up at 143 a share. overall the dow industrials probably will have a small gain at the opening bell, same story with s&p and nasdaq. it seems like the market is on hold waiting for the big tex to report later this week.

did you see this? house members doing a slow march to bring the article of impeachment to the senate. we have news chief justice roberts won't preside over donald trump senate trial. how outspoken trump opponent patrick leahy will be in charge. to find trump guilted the democrats need 17 republican votes and even president biden doubts they will get the votes required, but nonetheless, they are going ahead with this political theater and maybe that's why president barden will continue executive orders. if the senate is tied up with impeachment, he has to use x active orders to get things done. what a situation. "varney & co." is about to begin. ♪♪

stuart: i don't know about pumping it up, but we started housing market, which is still booming. what a lot of us want to know about his home prices and we have a report on that. lauren, what we have? lauren: they are pumped up and booming. arising in the 20 big cities by an average 9.1% in november, the biggest annual increase since may, 2014. the largest increases again on the west coast, phoenix, seattle and san diego as covid-19 continues the urban exodus we has seen. people leaving cities going to bigger suburban homes. stuart: good lord, up 9% in a year is a huge again. lets a in mitch roschelle, our real estate guy of the morning. michie, what's your reaction to a 9% gain in

home prices in a year? >> good morning. not unexpected and i'm still calling it a boom and not a bubble, but what i'm hearing in the market is that prices are getting to the point for some when they have to walk away because it's too expensive, so 9% increase with a $300,000 home just one in price-- up in price by 27000 and for some stretching a bit to buy, that's too rich for their blood. the offset is mortgage rates remain incredibly low so if you are financing the extra $27000 it's not going to cost that much on a monthly basis, but investors are sort of out of the market in terms of speculation right now it's good old-fashioned homebuyers and as some are getting frozen out of the market because of the price. stuart: so maybe cooling because of rising prices, but tell me more about mortgage rates because i'm going to show you the yield on a 10 year treasury

which is usually the baseline for mortgage rates. we have the yield on the way down-- okay it's up a bit this morning, but in the last week, 10 days it's come down to matt 1.04%, that's way down. does that mean mortgage rates in the future will go down some more? >> yeah, i expect mortgage rates to stay low and i think the biggest thing driving down mortgage rates is the fact that the fed continues to buy over a hundred billion dollars worth of bonds to keep down interest rates, but they are also buying mortgage-backed security to keep liquidity in the market and that's helping the market quite a bit. mortgage rates will stay low as long as the fed is helping interest rates in set purchases. i called the logo-- lower mortgage rates and i remain bullish on low interest rates for the balance of the year but that's not enough for some buyers to offset the rising prices. stuart: do you think we will get

down to save 2% even as the rate on a 30 year fixed rate loan? >> i did call that months ago. i'm walking away from it a bit. i think we will definitely get to 2% on the 15 year fixed i think it will be harder on the 30 year, but the silver lining is you can borrow 2% on it 15 year fixed so for some buyers they can pay off the loan in 15 years on a loan that would have taken 30 years to pay off a couple of years ago and that's really the silver lining in the housing market, the affordability from a mortgage perspective is offsetting the lack of affordability right now. stuart: thank you very much. we are glad to see the boom is continuing even if it might cool a little bit. let's get back to the markets, that will be the stock markets. mike murphy market guy

in the morning with us now. mike, you have heard this, dennis godman, a man whose opinion i value his warning about the dangers of these spac, he and a lot of people have a speculative froth that will end in tears. what say you? >> good morning, stuart. i have known dennis for over a decade and i have a lot of respect for him, but i couldn't disagree more. think about what a spac is spac's r&d speculative names like game stop taking often doubling on a daily basis necessarily. spac is a vehicle for private companies to trade on the public market, so we a few spac is bad as the equivalent of saying ipos are bad. i have been on the program with you two or three years ago where we talked about so many private companies for people in venture-capital like myself to invest in, but no path to liquidity, no

ipo so what's going to happen, how do founders, how do employees and investors get liquidity, well now, we have a lot of liquidity, so think about spac as a way for private companies to path to the public market. it's a great thing. stuart: i'm not saying spac are bad and i don't think dennis godwin is saying that i think we are saying the speculative froth surrounding these spac is a danger signal for the market and remember, mike, when the sponsor of these spac take 20% of the money they bring in right of the top, i have never heard of the use for non- performance like that before. doesn't that make you a bit worried? >> it doesn't, stuart. in full disclosure i can't comment too much about that, but i will say a lot of people in venture-capital have spac in the works or filed right now. we are as well.

i can speak much about that, but the fees are there. remember to not only bring a company public, but also to assist the public when it's a public entity like i will point out a company that would not be a public company if it were not for the spac market and i think they have done quite well and provide a great service, so there are fees involved with banking, they are fees with ipos and fees involved with spac just to suck at the record straight, those fees are negotiated a lot of the time before a deal goes public, so it's not that every sponsored group gets 20% in their pocket and goes home. those fees are negotiated, but they are providing a service. stuart: okay, mike, we are on it and we will follow this and we will follow microsoft this afternoon. mike murphy, thank you. let's get to game stop. yes, it's not a spac let's be clear, but we

are seeing extreme volatility in this stock. today of nearly 8%. susan, i say that it's typical of a highly speculative a market or do you think it could spell trouble for the broader markets ahead? susan: experts say is like a 1990-- 1999 all over again is the average investors of the most active in trading the stock market since before the.com. bubble burst. of these are tools traders use and it's causing distortion for the market. game stop is a great example. options work that the brokerage firms also have to buy the underlying stock to cover these contracts of the combination of investors and brokerages buying the same stock at the same time spike's prices dramatically unframed stop is a great example. researchers predict the volatile frenzy we see may actually spiked s&p

500 past 5000 before it drops back to reality. you won't make money for the long term, but term you will see dramatic gains. stuart: it's got me worried. i'm sorry, but it just does. just under a week in office and president biden continues to dismantle president trump's policies. more executive orders on board today. climate change today. i don't think that is good for jobs. we have the full story. talk about pop and circumstance or just plain silly with democrats slow marching through the capital to deliver their second impeachment of president trump to the senate. i think this backfires on the democrats. that's what i will say in "my take"'s tower. york governor cuomo lifting some of his states locked and restrictions, but don't expect indoor dining to return to new york city anytime soon. we will tell you why.

looking down deserted six avenue midtown manhattan. almost a year we have been showing you this. can you imagine dining outside? it's very cold in manhattan today and it will start snowing soon. do you want to eat outside? get out of here. we will be right back. ♪♪

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

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

go to aerotrainer.com, that's a-e-r-o-trainer.com.

(announcer) need to lose weight? can't figure out why those diets won't work for you? go to golo.com, where over 1 million people have found golo and a new and better way to lose weight. this is not only a weight loss journey, this is a complete transformation, mentally and physically. (announcer) want to lose 60 pounds? how about 100 pounds? you can. (woman) it's easy, and it will change your life. (announcer) go to golo.com. that's g-o-l-o.com. stuart: not that much major movement for the big indicators before the market opens. of modest gains pretty much all around. yesterday it was california eating some covid restrictions. today new york state is in some restrictions.

still, you cannot dine in doors in new york. do want to tell me why, actually? ashley: well the governor says that he just won't re-examining the state's ban on indoor dining at this point saying the virus that is still being evaluated. a court ruling as allowing indoor dining with restrictions in other areas of the state, but not new york city. the number of new covid cases in the state of new york is declining along with hospital admissions and positivity rate. in elective surgeries can now go ahead in erie county in the governor says other restrictions across the state are being reviewed including in some parts of new york city, but not indoor dining. here's what he had to say. listen. >> i think we are at a new place now to open up more economic activity. the indoor dining in new york city is a new york city specific condition.

we are not, at this point, at this point contemplating any changes. ashley: there you have it and by the way, new york imposed local restrictions based on infection rates, but governor cuomo has abandoned that approach in favor of a metric that looks at hospital capacity pig that's the same metric that caused us so much confusion in california. stu. stuart: we will leave it at that. for now. we have two vaccines, more expected, perhaps as early as next month, but as new variant strains of the covid virus pop up there's a need for more treatments. my next guest is working on a nap home treatment that's not have been approved, but it's currently in government sponsored trials. is with us. he's the ceo of synairgen.

this is the at-home treatment company. richard, can you show me how this works? >> its accommodation of a couple of things in the story starts with what the virus does. every virus has a trick to evade immune system, take over the cells and spread the virus from person-to-person. this particular virus is very good odds suppressing the production of a key antiviral protein we all make when we get viral infections and if you don't make enough of this protein because the virus is suppressing it then you are now super bowl mobile-- you are super vulnerable. our drug, which is this protein directly into the lungs through nebulizer. this is an nebulizer of patient would breathe like that and by

delivering the drug directly into the lungs we are hoping to help those lungs handle the virus better. we won't stop the infection taking hold, but if we can protect the lungs and hopefully we will stop and prevent people from being hospitalized. stuart: you are in clinical trials at the moment. i'm assuming-- let's assume they are successful. when could we see this at-home test the delivered to people like me? >> so, it's determinate on how well the clinical trial is delivered. the great news' operation warp speed infrastructure has funded the trial and we have been invited to participate in that. in terms of timing, all i can say is these programs, the operation warp speed programs have delivered breakthroughs and clinical data quickly so it's a really

good machine that's taking on developments of this drug for us. stuart: have you any idea what it would cost? i mean, to the person? >> that's to be resolved as well. as a company, we are gearing up to produce tens if not hundreds of thousands of treatment courses per month this year. in terms of how much it costs, drugs like remdesivir have been lodged but ultimately has to provide good value for money for payers and every country has a different healthcare system. stuart: yes, they do. richard marsden, thank you for joining us. we hope to see that treatments available soon. thank you. now, on a related note, we have united airlines launching what they call a travel ready to vote to make it easier for passengers to show a

negative test before they fire-- why. is it something like a covid passport, lauren? lauren: sort of, a one stop shop for all your travel testing and the documentation you need. it's on the united apple or website starting today the cdc says all passengers traveling to the united states has to show proof of a negative covid test, so american airlines and united now have these databases so you can put all of your forms and documentation in that one place and get access to other information like if you are traveling somewhere, do you have to quarantine aware are testing sites, but the fact that this is being stored digitally, any country, so global sharing and any country can have access to it, it's raising fears of the sinister consequences that come along with this. it's convenient, but it's also a necessity at

this point, but still yeah, i think some of my personal information or my health information could be accessible to hackers, stuart. stuart: i just have the problems with getting that kind of information onto the computer in the right place in the app took him sure there are a lot of older people like me to have exactly the same problems and we don't want those problems when we show up at the airport. that's another story. thank you. we will open the market in about seven minutes and here's how we will open, we are going to open with a modest game pretty much across the board. more on that after this. ♪♪ i made a business out of my passion. i mean, who doesn't love obsessing over network security? all our techs are pros. they know exactly which parking lots have the strongest signal.

i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices? yeah, that's my thing. with at&t business, you do the things you love. our people and network will help do the things you don't. let's take care of business. at&t.

stuart: you are looking at microsoft premarket, $232 per share. they report "after the bell" today. tech guy ray wang here today. are you looking for a magic number in this report like how many iphone 12 did they sell in china? is that one of the magic numbers to look for? >> microsoft will be the cloud, we are looking at the cloud business--

stuart: oh, sorry. ray, i completely got confused your guy was moving onto apple. let's look at microsoft, please. with the magic number for microsoft? >> microsoft, we hope to see a 40% plus growth. they had been excelling over the last two years. they have grown at 3.5 and that the super important number because its underpinning the power between office, office 365. it's doing really well and it's actually winning in the marketplace. the other piece we are looking at is the game side. the gaming business is up 30% and they are still behind sony and nintendo in terms of consuls at 49 million but there is growth there. what's hurting them is linkedin, it's been flat they used to grow 20% year-over-year and then the other area they have had departures with julia white and brand adder sent.

stuart: now let's get to apple. are they looking for a 100 billion-dollar revenue quarter? is that their magic number? >> that's going to be the magic number, a hundred billion and apple will be high just like amazon looking at a hundred billion dollar for the quarter, but it's also services. services are 67% of the profitability and apple one number is important to look at. it's about 585 million people on services and watching the number grow will be important because that's a future for apple and also looking at china numbers china is gaining market share again with the iphone 12. 5g made a big difference in the fact that stores are open they have managed to that relationship well, but they also have a hundred 98 billion in cash on hand as well in treasury so those are important numbers. stuart: give me 20 seconds contest was report tomorrow afternoon. what's the magic number there?

>> the magic number is their future production numbers thinking about getting past 500,000 units with the giga factories opening in vermette-- berlin and mosques-- boston. stuart: that's your out q, ray. as they are ringing the bell and trading is about to begin. ray wang, thank you for being with us. here we go. the market is open on the upside right from the start. we are up about a third of 1% in the very early going. plenty of green among the dow 30. at this moment the dow jones is up a quarter of 1%. snp just hit an all-time high. it closed at a high yesterday and it's opened high this morning, new all-time high there up 131%. the nasdaq, how about that, big tax home of one 31%, 13700, almost. general electric i think that stock was up

premarket and is certainly a penetrating has begun, $12 a share on ge peer did they haven't good report ashley? ashley: they did. the good news, stuart, revenue and free cash flow came out much better than expected while profits just missed estimates. earnings-per-share coming in lighter at 6 cents, revenue down, but all for business divisions are performed. the company pointed to strong and improving orders in the renewable energy division that led to a surge in cash. ge shares up 60% last six months. investors encouraged by better cash flow, debt reduction cost-cutting with that stock up 9%. stuart: yeah, $12 a share. etsy, that stock is surging. i always think of these guys as chalk sellers,

but susan, that surge of etsy peer does and sunday to do with the elon musk? susan: , always the power of the elon musk as he tweeted this morning that he kind of loves etsy noting he bought a hand knit wool marvin "the martian" helm-- helmet. the power of his single tweet seems to move the markets, but etsy doesn't really need the help as it's been a lock down winner. mask has become a big seller for etsy. the covid popularity has become permanent and i guess van slyke for elon musk as well. stuart: it just looks a frothy market when a couple of words from elon musk can move etsy 7%. susan: he moves his own stock also, by the way.

stuart: that's right. johnson and johnson, no frothy market reaction, is up 3.7%. they must've had some good news in their report this morning. lauren: this is a deserved with stronger than expected fourth-quarter numbers thanks to their rheumatoid arthritis drug which is also being tested as a treatment for covid-19. j&j says they expect sales to rise as much as 11% for fiscal 2021. shares at a new high. i have it-- i have an update. you will want to hear this on their covid-19 vexing. phase three trial results are expected at the end of this month so essentially any day now. this is a one shot vaccine. j&j can deliver 100 million doses in the us by april. this is 100 million people that could be vaccinated this spring because you don't have to split the vaccines, so 100 million doses means 100 million people

can be vaccinated around april. stuart: lauren, i would call that a major league home run for the country, for people and for johnson & johnson, up 3.8%. got it. let's turn to bitcoin because we hear some private universities are getting into it, into bitcoin. it has to be the ivy league. susan: two of the richest in america, harvard and yale university and brown university as well buying crypto and some even as far as cashback as a year and half ago. harvard has the largest endowment fund on the planet. crypto exchange says bitcoin could cross 50000, by j.p. morgan says 40000 may be hard and that is if the popular bitcoin index fund grayscale continues to lose money to lose popularity.

stuart: sorry, speculative froth, my opinion. susan: so, what do you recommend investors do it it's speculative froth? stuart: as dennis godman says, if you must, but keep an ion exit because the door will slam firmly shut at some point. i think that's good advice. draft king, you have this one, up 6%. did they get an upgrade? susan: it's worth 65 dollars upgrade from goldman sachs because they are market leader in a sports betting business. national partnerships including proteins like the nfl and gold-- goldman says it's one of the two leaders and they should have more to run in terms of whether stocks go as draft king has more than tripled over the past year. a lot of this money printing is coming from the fed. that money goes into the stock market.

stuart: yeah, and i think that's was creating the speculative froth, i mean, a wall of money. that's the way it is at the moment. next case is blackberry that thing has been on a surge and it's up a bit, 3% again this morning. lauren, what's behind the blackberry surge? lauren: newbie traders betting on wall street like it's a casino. that's the best i've got because blackberry was actually downgraded today to underperform in the price target is 750 and you can see it that 1845. rbc says it's overly optimistic in the company actually agrees. blackberry issued a statement yesterday saying we have no news to report to justify the stock surge. blackberry shares are up 170% this year and is still january 3-- 26. game stock like you're been talking about, express, macy's, you

have the freshman traders on robin hood and reddit that he nine companies that lots of the seasoned traders are betting against, so are these isolated examples or is this a problem that mainstream traders are moving into fast and baby regulatory authorities have to do something about it as they are pushing the stocks up way too much. stuart: we will be discussing this all day, all week, all month, speculative froth. here's another one. i won't write this off as speculative froth, but show me beyond meat, 30% higher this morning. was the reason, ashley? ashley: i can tell you it's because beyond meat and pepsico are forming a joint venture to produce snacks and drinks with plant -based substitutes. shares biking massively up 30%.

pepsico stock up modestly. the financial terms of the deal has been released, but beyond will benefit from pepsi's production and marketing skills while the investors say pepsi will add to its investment in plant -based categories working with one of the top creators of the meat substitute, so a winner today for beyond meat and pepsico adding to i guess it's meat and plant alternative division. there you have it. stuart: just one more example of extreme price movements are compressed into a short amount of time up-and-down. a lot of people worry. thank you. that's our early market coverage. don't go away. cnn finally asks democrat congressman eric's wall well about his ties to a chinese spy. watch this. >> this is a 2015 meeting, not a person--

as a volunteer back in 2012 pack on the campaign. the fbi said i did nothing wrong i think it's retaliation more than anything else. stuart: i think he dodged the truth and cnn jake tapper did not push back. we have more on that. the white house finally condemns antifa rioters in seattle, but only addressed the issue after they were questioned why they didn't condemn it. brian kilmeade joins me next hour. ♪♪

stuart: just a joining us tuesday morning, well, let me show you the markets with a new all-time high for the s&p 500. dow industrials up over 100 points, fractional

loss for the nasdaq. dow winners, johnson & johnson right up there, 3m, chevron. there are some significant winners among the dow 30 and some losers. here they are, verizon, american express, merck, home depot and apple slightly on the downside winners and losers and then we have game stop. just halted, shares halted for trading. i believe that's because of the volatility. they had been on a wild ride recently. susan, explained again what exactly is going on. susan: it's a tale of social media and short-sellers with this in day trading that's taken over and read it has been a very popular place for day traders in the specific page called wall street traders. are average folks get a lot of their stock ideas and stocks that have been popular ones that tend to have a lot of short interest meaning a

lot of money on wall street. game stock has been on the its last leg because more gamers are switching to online consider brining bricks and mortar, but these reddit traders see an opportunity to pick up stocks, a short squeeze meaning when the stock surges the short-sellers are forced to buy the stock and by in which a spikes the stock further so i like to think it like a soda bottle when it's shaken, it's shaken so much that the top eventually goes off and that's kind of what you see in game stop shares a. stuart: i understand it. it points out the extraordinary influence of reddit and the robin hood crowd, i mean, this is brand-new, this phenomenon and i think it's disruptive. susan: and being caught on the downside of the trade when you are trying to short something but if you are on the wrong side of the trade you really pay for

it. stuart: i believe $6 billion was lost by short-sellers in game stop. now, let's bring in a videogame guy and he follows this very closely. i have to tell you, this makes no sense, i mean, is game stop worth $90 a share, worth $160 a share last week? my question really is are we about to see a big drop in game stop? >> i would not be surprised to see that, but it may actually happen perhaps after next week. the reality is that when you do things like fundamental analysis is irrelevant when you look at game stop. of the only thing to realize what's to help you understand what's been going on is that there's two components. the first is game stop as a stock has a relatively low float and secondly it's the redheaded stepchild of wall street, the most shorted stock in america and when you combine

them it creates fertile ground for the short squeeze and that's basically what happened last friday prime to buy social media. there was an active short-sellers from a citroen group that made a video saying the stock will probably fall back to my $20 and doesn't have a bright future and that's what those people picked up on realizing all the institutional investors were hedging on game stock so they bought a bunch of stock and it created the gamma surge or the gamma squeeze you saw friday. stuart: go-ahead. i went to know what you find interesting. >> what i thought was interesting is that the kind of short squeeze that's been going on with the game stop is almost like a metaphor for the company because i think as susan mentioned it's a brick-and-mortar store that exists in a increasingly digital ecosystem and it's hard to find its place in the gaming industry going forward. stuart: look,-- you explain it

well and i understand what's going on. i understand it's internally driven. i got that, but wouldn't you say that this really makes a lot of people very nervous when we see game stop and other stocks doing exactly the same thing, straight up, straight down, all over the place? packets a lot of people service. >> yeah, i mean, a lot of speculative bubbles and i think there's a couple of lessons to learn going to the future and it may seem basic but first of all you can never forget the future with absolute certainty no matter how obvious it is and secondly because of the power of social media to bring people together like never before, now people are moving into wall street like that and that's-- there are also places on tiktok where they talk about financial advice and betting and i think you will see more speculative bubbles come up whether you are in a bowl or bear market.

it's just something that will happen in the foreseeable future. stuart: when you get stock picks from tiktok you have to be nervous. thank you. one of president biden's first orders of business was killed the keystone pipeline. listen to one worker who is now out of a job. watch this. >> this is an american job issue. i don't care if you are union or nonunion, they are trying to tell me too find another job when we can even provide jobs for the people in this country. stuart: president biden signing even more executive orders this week and more today with lots of new red tape in those orders, lots of new bureaucracy. i don't think that is good for businesses. we have a full report for you coming up next. ♪♪

at t-mobile, we have a plan built just for customers 55 and up. saving 50% vs. other carriers with 2 unlimited lines for less than $30 each. call 1-800-t-mobile or go to t-mobile.com/55. your grooming business is booming. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base. claim your seventy-five-dollar credit when you post your first job at indeed.com/groomer

stuart: regulation nation strikes. president biden will issue more executive orders today.

edward lawrence is with us now. he's reportedly looking to halt oil and gas leasing and a drilling on federal land. accurate? >> exactly and right now it's a moratorium for 60 days and sources tell me that as early as tomorrow the biden administration will extend the ban on new leases for drilling and fracking on federal land and waterways for one year including offshore drilling. members of the independent petroleum association worry specifically in new mexico it will crush the industry there and could threaten that energy independence of the us. senior vice president for the association says his group is working with unions to push back as the new regulations threaten thousands of union and nonunion jobs. he said they would be permanent job losses adding under deregulation output of oil and gas industry actually went up and the co2 emissions released actually went down. listen. >> we believe that our

producers have the technology, honda engineering know-how to move forward so we like to get into partnership rather than just have a heavy-handed push down from washington which abeyance leasing, stops production and will have significant ramifications for the united states going forward for many years. >> the administration says the regulation help the environment and help to fulfill a campaign promise but it's not just oil and gas industry, the president plans to add a 10% tax on companies making products overseas and shipping them back to the us on top of raising the corporate tax rate to eight 20%. this will force companies-- more regulation. stuart: i'm glad you ended on that, more regulation. edward, thank you. now, did you know this, doctor anthony fauci is the highest paid federal employee in the country?

much does he may, ashley? ashley: $417,608 in the 2019 meaning the top disease expert in the us earns more than the president. from 2010 to may 2019, he earned 3.6 million and along the way he was embraced by many in the media. although, he is said to help calm down some and the trump administration , but he's the highest paid and if he went into the private sector he would probably learn more, however. stuart: yes, he would. thank you. still ahead, charlie hurt, brian kilmeade, steve forbes and steve helton all in the second hour of "varney & co.". ♪♪ ♪

♪ smooth driving pays off. ♪ with allstate, the safer you drive the more you save. ♪ you never been in better hands. allstate. click or call for a quote today. . . . .

♪. stuart: keith urban. interesting pace of that song there. morning everybody. it is 10:00 on the east coast we have big show still ahead. here is what is coming up for you. this hour, charlie hurt, senator mike braun, brian kilmeade. next hour, 11 okay, steve forbes, steve hilton, sean duffy, all going to be here live. you no the latest read on

consumer confidence. this looks forward. it is important. lauren, the number please. lauren: improved slightly in the month of january, 89.3 up from december's level. the market moved slightly higher on this report. what seems to be worrying consumers right now is that covid-19 a major suppresser. so that is impacting their short term confidence, stuart. stuart: that number, 89 is still a pretty strong number i got to say and still leaves the markets very much in the green. the dow industrials at 31,000. lauren, as we said earlier the s&p earlier hit all-time high, intraday high at the opening bell. plenty of green this morning on the screen. now everybody, this. news this morning that chief justice roberts will not preside at donald trump's impeachment trial.

he says he is not interested. can't say i blame him. last night when masked house members trooped over to the senate to deliver the impeachment article, in my opinion it looked silly political theater. i find it hard to believe with all kinds of pressing concerns that democrats woe go ahead with this guy ant distraction. this impeachment is vindictive, plain and simple. it's a political weapon designed to beat up the republicans and keep the trump hate fest going. outspoken trump opponent, democrat senator patrick leahy, he will preside over the trial. he doesn't have to be impartial, but will certainly take any opportunity to pile on the former president. will mr. trump be found guilty? probably not. the democrats need the support of 17 republicans. even president biden says they're not likely to get that many. senator lindsey graham says there is only shrinking number of republican senators who now support this impeachment.

i think there will a backlash against the democrats. this trial will be splashed across tv screens, showing the full senate sitting for days on end, consumed with something that happened during the previous administration, and which will affect the new administration's ability to get things done. the fact that this trial is going ahead testimony to the strength of trump hatred in the democrat party. i don't think it will do them any good at all. the second hour of "varney & company" is about toe begin. ♪. stuart: all right. he is back, charles hurt, we missed lawed, we missed you. he is not smiling this morning, because he will react to the slow march of the democrat house members delivering the impeachment. i think it backfires on the democrats. what say you? >> oh, i think you're exactly right about that, stuart. of course the reason it

backfires is because it reveals they really do not have any sort of governing agenda whatsoever. they don't have a legislative agenda except hating donald trump. that's not, that is not a very good agenda to run on. of course let's not forget, joe biden, who is president, he is leader of his party. he could put a stop to this if he wanted to but they doesn't have the will and doesn't have the vision to do that. but i think you're exactly right, it is going to backfire. think about the last time they did this, last time they did this, we didn't know it at the time but we had a massive deadly pandemic stalking our shores and they ground one entire branch of the federal government to a halt to carry out impeachment, much like this one this time, where they knew it was never going to succeed but they preferred the political theater over actually doing something, in that case they could have done a whole lot to save lives and to help prepare us for this pandemic but

they're not interested in that. stuart: i just want to carry this forward. we're told the actual trial should begin on i think tuesday february the 9th. i don't know how long it is going to last but i'm told that the democrats are preparing a video showing the reaction of the crowd listening to the president's speech right there on january the 6th. they will use that as evidence against him. i can't believe that they will do this because all 100 senators, they have got to be in the chamber full time. they have got to sit there day after day watch this thing. i can't believe they're actually going to do this, charles? >> well you know, they like to say that they can walk and chew gum at the same time but that is not true when it comes to impeachment. when it comes to impeachment in the united states senate, the entire government grinds to a halt, entire legislative branch grinds to a halt, so the senate

can sit with their fannies in their seats watching this trial and it is kind of amusing. they will present evidence now? they never presented any evidence whatsoever in the house. they jaws just haranged about donald trump. goes to show they have no agenda but hate donald trump. what will they do when it is over, what do you have to do when you don't have donald trump going forward? will you start addressing problems people have? i can't remember a time, in two decades covering congress when there are more important issues affecting everyday people at home in real ways, watching this theater going on, it can't inspire confidence. you know i would argue that you're exactly right, in two years, when when a third of senate, entire house up for

re-election, they will pay a very, very hefty price for this. stuart: got it. i'm glad you're back, charlie. good to see you again. don't be a stranger. >> great to see you. stuart: charlie hurt, see you soon. thanks very much. that is politics, impeachment. let's get to money. take a look at the markets. solid gains all around. we opened slowly to the upside. now we gain ad little momentum. john lonski is with us, john is an economist so let's not talk markets, let's talk the economy. seems to me that the economy is actually slowing down. what say you? >> it is slowing down, stuart, but i think the slow down will be limited and it will be temporary. we may have growth of roughly 2 1/2% in the first quarter but following that, it should speed up to four 1/2 percent, not only because of proposed fiscal stimulus but also because of a

very accommodative monetary policy. you know we now have the fastest money supply growth, 25%, year-over-year on record. the previous record, 13 1/2% from 1976. stuart: that is a flood of money. my question about the economy though is, we're hearing that california's going to lift restrictions, some of them, most of them. new york state is going to lift restrictions, some of them, most of them. that is going to make quite a difference. two huge states, big populations, that will make a difference to economic performance, isn't it? >> oh, definitely a positive development. you're going to see more consumer spending at restaurants, bars and other venues, that have been closed down because of covid-19 restrictions. and i want to add, we now have a much higher hospitalization rate nationwide than we did back in march and april of 2020.

we unfortunately of course have a higher death rate. that being said, we're still looking at a growing economy for the first quarter of year which is a big difference from that declines that we had in the first and second quarters of 2020. second quarter the economy shrank by 33%. we're getting good news on manufacturing. that continues to grow. it is important when creating policy, the biden administration does what is necessary to extend this recovery by u.s. manufacturing. stuart: real fast question, the long-term interest rates are actually coming down. is that because of all this vast increase in money hitting the economy? >> oh, that is part of the answer to that particular question. it is also, you know, linked to it very closely is the fact that markets believe the federal reserve will effectively put a cap on treasury bond yields as

long as it can do so. the federal reserve's primary objective is the attainment of full employment. today that mean as 3 1/2% unemployment rate, provided that the foreign exchange market doesn't fall apart, provided that the dollar doesn't sink, the fed will continue to effectively cap treasury bond yields. stuart: okay. got it. we're down to about 104 right now on the 10-year treasury. john lonski, thanks for joining us. see you again real soon. >> my pleasure. stuart: get back to stocks. we've done politics, impeachment, done the economy and now done stocks. gamestop resumed trading after a brief halt. it has been exceptionally volatile recently. a sign in my opinion after frothy overall market. susan li, come on in please. you're following today's biggest movers. what do you have for us? susan: it's a big earnings week, 20% of the s&p reporting. in fact it will be the busiest earnings week of the calendar,

already hectic this morning. verizon is down after sign signing up 30% less subscribers for the quarter. we talk about phones and blackberry for instance, blackberry hitting highest since 20072007 when it was actually selling millions of handsets, nokia, another blast from the past, another phone king from different era also jumping 2.25%. i know what you will say, a sign of market froth and maybe volatility and options trading creating distortions in the market. you might be right. j&j hitting a record high this morning. it has hopes for one-shot vaccine that might get approval the next few weeks. they will make more money than anticipated for the full business year. what about ge, nostalgia, general electric a year ahead in the turn around, making more cash than anticipated in a year. power engines, renewables are moneymakers. hand it to larry culp the ceo

for a faster turn around than anticipated. stuart: he got the stock to $12 a share. susan: four or five dollars 18 months ago. doubling it. stuart: it was. got it. we have one, there is many, but we to the one laid off-key stone pipeline workers, i mean, the pipeline was canceled. we got one worker slamming president biden's decision to kill that pipeline. just watch this for a moment. >> this is an american job issue. i don't care if you, if you're union or non-union, this administration is attacking our industry all together. stuart: his well-paid job, gone. more on that story just ahead. new york's governor cuomo, he is set to ease some covid restrictions but you still can't dine inside in new york city. i bet brian kilmeade has got something to say about that

president biden's hhs pick, haugh xavier has serious questions about becerra. mike braun joins us next. ♪

municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-763-2763. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk.

call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763 in these uncertain times, it's important to own physical gold. call today to request your free bond guide. fortunately, there's an easy way to invest at the source right here on american soil. we're golden independence and our advanced stage nevada gold project is located within the largest gold producing complex in the world with an historical resource of over one million ounces and active drilling to expand even further. time is now for golden independence.

so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't.

so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. (woman) why can't i lose weight? (man) what is happening to my body? (woman) i don't want to look like this anymore. (announcer) you may be suffering from insulin resistance. measure your waist. females measuring more than 35 inches and men measuring more than 40 inches 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: almost, almost one hour into the trading session it is a mixed bag on the markets. dow up, s&p down. nasdaq up a fraction. show me please, big tech. this is big tech week. this is the week when the trillion dollar club starts reporting their latest financial results. in advance of the actual

results, microsoft is up but apple and google are down. amazon, facebook, up. mixed bag right there. show me beyond meat. just look at this thing, it is surging. why? because it is teaming up with pepsi to produce snacks and drinks with plant-based alternatives. it is up 25%. president biden's pick for health and human services secretary, xavier becerra, he testifies before commerce tomorrow. that is his nomination hearing. senator mike braun, republican from indiana will be doing some of the questioning. mr. senator welcome back, we haven't seen you for a while. what are your concerns about mr. becerra? >> besides the fact he spent career in congress, has very little health care experience, he is perfect wing man for the bernie sanders approach to health care. stu, you know, i come from main street, took on the health care industry back 12 years or so in

my own business, stressing transparency, getting rid of those barriers to entry. getting my employees as health care consumers engaged in their own well being. my main reservation and i will stress this afternoon, is why would you not want to reform the broken health care system before you get government more involved wit. that is what happened with obama care. instead of being the affordable care act, it was the unaffordable care act. you should big health insurance and big government that never sounded like a fruitful remedy to me. so i would really like to see him embrace reform measures before you embrace the bernie sanders approach to having even more government involved in a broken system. stuart: but he is not going to do that, senator. >> no. stuart: he is not going to do that. he wants socialized medicine like the brits. that is what he wants.

>> i think if they go down that trail, and some of that blame is on the shoulders of republicans and conservatives because we've not put an alternative out there, i was never for just out right being against obama care t was doomed to fail. we should have alternative trying to make an industry that has the barriers to entry. does not want transparency. there is no other business or sector of the economy like that. if we can't convince them to do it, some of that blame will be on our own shoulders because it may cascade there. i know many business owners, ceos, that are sick and tired of being in between providing health care and their employees getting it, especially when it doesn't roll, it doesn't operate like all the basics that we have to contend with in running our own businesses. it is a dilemma, no doubt.

stuart: it's a dilemma but let's see the debate go forward, i hope we do. i want to ask you about the impeachment drive. i'm sure you saw the slow march of the house members watching their impeachment article to the senate. we've got it on the screen for a moment. what do you make of the impeachment, supposed to start the week of monday february the 8th. the bottom line it rebounds against the democrats. i think republicans might get something good out of this, what do you say? >> number one it was a political exercise when we went through it the first time. i have was very vocal about it, i thought it was inherently unfair. they were after the president after the day he got inaugurated. after the challenge of covid, punks eighted by -- punctuated by what happened january 6th. it puts it in a different light. however he is no longer in office. almost everybody republican senator i talked to is grappling with the idea that you're

impeaching someone that already been removed through the process. so that is going to be a big consideration. i think, that idea of biden talking about unity, this will take another program. i would love to get into that analysis that i haven't seen one unifying thing that has come out with what they have done through executive orders, policy promotion in general, i'm real worried about all the good that was done through the tax and jobs cut, jobs and tax cut act back in 2017. another question, so i think it will boil down to the relevance of this is different from when it occurred a year ago. i don't see many republican senators being convinced that this is time to do this constitutionally and on the merits of the case. stuart: got it. senator braun, thanks for joining us again. always appreciate it. we hope to see you soon. >> you bet. stuart: yes, sir.

president biden in office less than a week. he is already set a record. it is going to be a record for executive orders, right, lauren? lauren: ding, ding, he signed more executive orders, actions, proclamations, directives in his first week than any other president ever. the number for last week was 33. he is not done. more today. the scene for today's actions will be racial equity. so we expect more on police reform, prison reform as well as housing, for instance, biden may create a policing commission that would ban the transfer of military equipment to local police departments but for comparison, when we're talking about executive action, tum trump signed four executive orders in his first week. barack obama, five. george w. bush, none. we're 33 and counting. stuart: well i guess the president has to do all of this because he is not going to get much through the senate and congress when they're tied up

with impeachment. he has to go the executive order route. i guess that is what he is doing. lauren: ambitious agenda. he is fighting for time and attention. you got it. stuart: now one of those executive orders stopped and killed the keystone pipeline. i can't believe that the unions are happy about this. ashley? ashley: i think that is a pretty good assumption. the united association of union plumbers and pipe fitters one of many unions upset with the decision. one of the first to be laid off was neil crabtree. he is a 46-year-old welder from arkansas. he began as an apprentice on the pipeline 23 years ago. he told sean hannity on fox news. that people need work, not political statements. take a listen. >> this is an american job issue. i don't care if you, if you're union or non-union. this administration is attacking our industry all together.

they're trying to tell me to find another job when we can't even provide jobs for the people that are in this country. ashley: that is the issue. the welder says he broke down and cried in his truck after having to lay off his team. of course losing his own job. of the 11,000 positions that will be eliminated, 8,000 of them are union jobs. some of those unions that backed joe biden when he was running for president. stu? stuart: okay. elections have results. and impact. thanks, ash. let's get to cnn because they finally pressed congressman eric swalwell about his ties to a suspected chinese spy. watch this. >> this is a 2015 meeting of about a person that i had as volunteer back in 2012 on the campaign. the fbi has said that i did nothing wrong. i think this is retaliation more than anything else. stuart: that's it? they're out to get him.

more on that coming up? plus is america's new treasury secretary janet yellen is she good for the market? i will ask former fed advisor danielle dimartino booth after this. ♪

(ringing) - hey kaleb, what's up? how you doing? - hey, i'm good, guess what, i just had my 13th surgery. - really? i just had my 17th surgery. - well, you beat me. - well, i am a little bit older than you. - yeah it's true. how are you doing? - i'm doing good. i'm encouraged by seeing how people are coming together to help each other during times like these. - kind of like how shriners hospitals for children is there for us. imagine if i couldn't get my surgery. who knows what would have happened. - same for me. i know my shriners hospitals family will continue to take care kids like us who need them most all because of caring people like you. - like me? - no, the people watching us right now at home. - oh, those people. hi people. - kaleb and i know not everyone can help right now, but for those of you who can, we hope you'll this special number on your screen right now.

- you'll be making sure our amazing doctors and nurses can keep helping kids like us, who need them now and in the days to come. - your gift will make a huge difference for kids like us. - ooh, ooh, show them them the thank you gift. - okay, okay, hold on a second. with your gift of $19 a month we'll send you this adorable, love to the rescue blanket as a thank you and a reminder of the kids you're helping with your monthly support. - so what are you waiting for? you can use your phone and call, or go to loveshriners.org to give and join with thousands of other generous people who change lives with their gifts every day. - i think that's about it buddy, good job. - my pleasure captain. please call now. if operators are busy with all the other caring people, please wait patiently, or you can go to loveshriners.org to give right away. - [alec] big or small, your gift helps us all. - [both] thank you.

(giggling) stuart: looks like markets are on pause through big tech. we start this afternoon with microsoft. meanwhile, modest gains for the dow, s&p, and for the noose -- nasdaq. a pause before we get earnings. federal reserve paused to keep rates super low, the question, is that a problem? bring in danielle dimartino booth. this is a downtrend. we're down to .04,.today. we were up close to 1.20. is that a problem, a danger signal for the market or for the economy? >> stu, i think you're more than aware of being the market veteran that you are, that falling bond yields tend to indicate we have a slowing

economy. we have certainly seen a pickup in initial jobless claims over the last few weeks. that is nothing to sneeze at when you have got 1.4 million americans filing initial jobless claims. we know that some of the initial moves that have also been taken by this administration are going to cause job losses. but you do have a new sheriff in town, though i'm not really sure what the feminine label for sheriff would be. she is the first female treasury secretary. i think that market, that market participants put a lot of faith and hope in what she is going to bring to the table. stuart: granted. it is the fed that will bring long-term rates down because they're just buying all the treasury securities. they will keep the rates way down there. may or may not be a danger signal. janet yellen, confirmed as treasury secretary, now, is she good for the market? >> i think that the markets certainly perceive that to be the case. they look back to the janet yellen era at the federal

reserve even though the economy had been out of recession for six 1/2 years. she still hesitated to start that tightening cycle until december of 2015. so i, i think the markets rightly perceive her as being extremely dovish. you can consider her to also be jay powell's mentor. he walked into her footsteps after she left the fed and markets know that they're going to work very well together and that whatever stimulus spending is legislated by the congress, she is going to insure that will all be effectively printed away, added to the fed's balance sheet if need be. markets love this type of symbiotic relationship between federal reserve and the treasury, dot, dot, until financial stability blows up to the extent until they don't like it. they haven't been proved wrong. they keep dancing until the music is still playing which

chuck prince famously said before the financial crisis. stuart: you've been reading, what about ours here, haven't you, keep dancing. >> keep dancing. stuart: but an eye on the exit. >> that is exactly right. stuart: that is mr. gartner for you. danielle, thank you very much indeed. before we move on viewers. did you see that microsoft just moments ago. now they're up to, i think it's a new high, $233 per share. now they report after the bell this afternoon. they have consistently gone up, look at it now. 232, up three bucks, up 1.3%. watch out. we got a new report and it says millions of people are behind on their rent. yeah. how many millions are we talking about, lauren? lauren: 10 million. that is nearly one in five renters, they have not paid their landlords in full as of this month that comes from the urban institute. so the average person, four months behind, owes $5600.

that is $57 billion total. president biden has extended eviction protections until the end of march. the big question, is, why can't americans pay their rent? because they have lost their jobs. a u.n. agency says globally 250 a 5000000 full-time jobs have -- 255 million full-time jobs has been lost because of covid. that is four times as bad as the financial crisis in 2009. many people quit looking because the industry is shut down by the pandemic, big jobs and travel restrictions more they come off in many places, better chance people have getting their jobs and paying rent. stuart: we should do a segment on the landlords because they're not doing good but they never get sympathy. lauren: nope. >> look at this one, you may be surprised at this. hollywood executives finding ways to get the vaccine earlier than they should. that doesn't seem fair to me,

susan. how are they doing it? susan: nor is it surprising to a lot of people, using money, fame, connections in some cases their private jets. to get themselves ahead of the line to get a jab. variety reporting that music mogul irving azof helping his rich friends, paying $10,000 as bribes chartering planes to get the vaccines. former dick clark production ceo, reportedly taking a private jet to florida to look for vaccine. even though former time warner see i don'ter h yo rich parsons confirmed he went to florida rather than new york for a job. unlike california, florida, those eligible 65 are available for vaccines. that is the tough part. you use your connections and your cash to get in. stuart: won't do you any good in florida. governor desantis says no, you're an outsider, you can't fly in for the vaccine.

we'll not have anymore for that. susan: okay. stuart: thank you, susan. the media finally questioning congressman eric eric swalwell own his connections with that chinese spy. they finally got to it, ashley. ashley: didn't exactly hold his feet to the fire. jake tapper asking congressman swalwell about his alleged contact with alleged chinese spy christine fang. a report said she target ad number of politicians including swalwell who she met eight years ago. zoom house republicans called for swalwell's removal from the house intelligence committee. swalwell says he was unfairly targeted. >> this is 2015 meeting, that i had as a stroll tear back in 2012 on the campaign. the fbi said i did nothing wrong. i think this is retaliation more than anything else. ashley: retaliation from whom

you may ask? swalwell claims the story was leaked by someone in the trump administration to get back at him for being such a loud trump critic. stu? stuart: jake tapper never pressed him on that of course. ashley. ashley: nope. stuart: the white house, they got around to it, finally condemning the violent riots on the west coast. watch this. >> peaceful protests are a cornerstone of our democracy. but smashing windows is not protesting. neither is looting. stuart: well she only condemned the riots after being asked a question, why the white house has been silent on them for two weeks. brian kill immediately will deal with that. hundreds of millions of dollars in dark money helped joe biden pave his way to the white house. those donations are untraceable. we don't really know who supported him but we've got a report on it, coming up.

these days, it's okay to do some things halfway... but taking prescriptions shouldn't be one of them. so cvs has a proprietary search tool that looks for savings. plus free delivery. get a free prescription savings review at cvs.

stuart: in advance of earnings reports we have big tech names, markets first of all, i got a little bit of green. nasdaq is up 27. not a huge move. show me microsoft, apple and facebook. microsoft up big time, a gain of 1.6%. i think that is a new high at 233. they report this afternoon. apple is actually down a fraction now. that, they report tomorrow afternoon. and of course we did see facebook with a solid gain. they have been halted for a second time. they have been all over the place, a sign to some that this is frothy, speculative market, watch out.

more on that coming up for you. candidate biden, he benefited heavily from the dark money donations. jackie deangelis is with us. how much money did the president receive from these anonymous sources, jackie? >> stu, get a load of this, it was a record breaking $145 million. you want to compare that to president trump? he got only 28.4 million. it was 17what biden got according to center for responsive politics t is from super-pacs or non-profits. super-pacs are expenditure only political committees. they can take in unlimited contributions from individuals, corporations, unions and other groups without any legal limit on the donation side. then, stu, once it is all lumped together, going to a candidate you really don't know where it came from. the irony here is that the democrats have denounced dark money for years including in

2008 2018 biden himself when he told pbs news that people can't trust a politician with a super-pac. >> there is a rot in our american democracy and there is a shadow over the halls of congress. the rot is dark money and the shadow is special interest influence empowered by that dark money. reporter: that was democratic senator sheldon whitehouse from rhode island. house dems were against that. they want a resolution to bring dark money out into the light. with biden taking advantage of dark money how can democrats bash its existence. one source i spoke to, it is like if the uber wealthy use tax law to their advantage. they said they wanted to dismantle the very laws that helped them. stu, got people scratching their

heads. stuart: sure has. good stuff, jackie, thanks for joining us. dark money indeed. now this, amazon is moving 3,000 highly paid people into a city, that city is boston. susan what are they looking for in boston? susan: so the jobs will be distributed across support teams for alexa, which was launched in november. amazon calling it a tech hub in boston. they will focus on developments and software. these are high-end jobs. problem highly paid as well. amazon with recruiting in new york, san diego, dallas over the past year but remember that new york lost out of on over 20,000 high paying jobs and amazon's search for the second headquarters. that is thanks to the local politicians and does include aoc who balked at the time at three billion plus in tax incentives. so boston says we'll go somewhere else then and hire some of these people with six figure salaries. stuart: who would blame them?

why not? all those people, earning all that money coming to your city. you would think they would welcome them. boston would welcome them. susan: tax coffers will enjoy it. stuart: susan, thank you very much indeed. move on to the super bowl to talk about budweiser. believe it or not they are sitting out the super bowl for advertising this year. you're going to miss this, roll tape. >> budweiser. >> budweiser. budweiser. stuart: i liked that ad. i'm going to miss it. we'll tell you hoe else may be, will not be airing ads in the super bowl either. governor cuomo, going to ease covid restrictions but that does not include new york city. brian kilmeade always up for a sharp-edged line. he calls it pure hypocrisy. he is here next.

are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design

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

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

stuart: brian kilmeade is on his way. while we're waiting for him, look at beyond meat. some think this is example after frothy speculative market. beyond meat has to deal with pepsi for their plant food products. that's why beyond meat is up today. it still looks frothy, does it not? two seconds to go, here it is 10:51. that means brian kilmeade joins us. you know this, governor cuomo wants to open new york state back up but not new york city. watch this for a second. >> the indoor dining in new york city is a new york city specific condition and when not at this point, at this point, contemplating any changes. stuart: can you explain this to me, brian? >> no. it is nuts. number one it is hard enough because there are no people if you're going to be able to open up. the city have to come in the villages and upper east and west side where they're neighborhood

oriented. they're eating outside with heat lamps. to inside is safer. to go outside in the submarines are far more dangerous. they're built sheds or open sided sheds with three sides are there. if you're not in new york or cold weather city you've never seen anything quite like this. now he is saying that is a different situation. why? because we're on foot. because we have a chance to congregate. do you know that new york city the rents are the highest. we need to get people back in. you cannot live on take-out food. we just walked the city. the only thing we're sell something plywood here. have a chance to rip it off, get up to speed, numbers are loner new york city. he doesn't know what the heck he is talking about and he doesn't care. i'm heartened by the fact he often contradicts himself the next day. often times this, is under played, the mayor and governor hate each other so much, we're in the middle. so they fight it out because one wants to take credit or

discredit or show their power over the other? so they discuss sit back and they fight it out and we're the carnage. this can't happen. also we found out our governor, not only disliked by his people, but he is disliked by his democratic mayor and chuck schumer. they evidently are barely on speaking terms. so the guy trying to deliver money for new york in a way which has got every red state upset, is not on speaking terms with the governor. all the same party. please tell me why this guy gets an emmy and gets a best-selling book contract? he is probably writing a sequel on how 41,000 people die in your state, higher than anybody else and he gets a book deal, which is pretty much a how-to. stuart: got to shake your head at this. all right. i've got to move on because i can't answer your questions. i don't know what the devil is going on in new york but it is clearly a mess. president biden's press secretary finally spoke out against the west coast riots. watch this? >> president biden condemns

violence and any violence in the strongest possible terms. peaceful protests are a cornerstone of our democracy but smashing windows is not protesting, neither is looting, actions like these are totally unacceptable. stuart: wasn't very strong condemnation. the riots have been going on a couple weeks. why did it take so long? president biden didn't issue this condemnation, it was his press secretary. >> right. she doesn't say antifa. antifa is a problem. the organization is prevalent around the globe and they're located in x, y and z, cities. it has got to come to a close. you know what, jen there is no downside, they hate you too. they hate joe biden. they hate donald trump. they hate the country. they want the end of laws. they warrant the end ever prison, the end of law enforcement, none of which will happen but even the liberal mayor of portland, ted wheeler, had spray, had to use pepper spray on a would-be assailant

constituent, might have voted for him because he thought he would be attacked. the guy can't eat dinner. he was voice of appeasement. trump is the problem? they put federal troops to protect federal buildings. they're the problem. trump is gone. chad wolf is gone. you have a bigger problem. please tell me democrats and republicans you could learn from this. this is so dumb to defies description. some morons around the country are going to try to many you late this. this is in tacoma. this is in seattle. it is in portland, it is in denver. it has got to stop. we're on the same page. joe biden, you want to unify the country, we'll get behind you. empower your police officers to do what is necessary. when you arrest someone, hold on to them. you keep letting them go. stuart: i find the outrage level rising rapidly, brian. it will not go away.

mr. kilmeade, thanks joining us. big show coming up in the 11:00 hour. steve forbes, steve hilton, sean duffy all on tap. we're waiting for those microsoft results. the stock is up. we'll be back.

nicorette knows, quitting smoking is hard. you get advice like: just stop. get a hobby. you should meditate. eat crunchy foods. go for a run. go for 10 runs! run a marathon. are you kidding me?! instead, start small.

with nicorette. which can lead to something big. start stopping with nicorette (vo) businesses are always making choices. here's a choice you don't have to make: the largest 5g network... award-winning customer satisfaction... or insanely great value. now, with t-mobile for business, there's no compromise. network. support. value. choose. all. three. t-mobile for business. ready when you are.

(judith) at fisher investments, we do things differently and other money managers don't understand why. (money manager) because our way works great for us! (judith) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (judith) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right? (judith) we don't have those. (money manager) so what's in it for you? (judith) our fees are structured so we do better

when our clients do better. at fisher investments we're clearly different. >> banks aren't these speculative names like gamestop that are doubling on a daily basis necessarily. they're a vehicle for -- spacs are a vehicle for private companies to trade on the market. >> speculative bubbles come up whether you're in a bear or a bull market, it's just something that's going to happen. >> i think the slowdown will be limited, it will be temporary. we may have growth of 2.5% in the first quarter, but following that, it should speed up to 4.5%. >> mortgage rates will stay low as long as the fed is helping in interest rates and asset purchases. i called a lot lower interest rates, i remain very bullish on interest rates.

>> when it comes to impeachment in the united states senate, the entire government grinds to a halt. and watching this kind of thing going on, it can't inspire confidence. ♪ so raise your glass if you are wrong in all the right ways. ♪ we will never be, never be anything but loud -- stuart: raise your glass. but not in a bar in new york city. you can't do that here. good morning, everybody. 11:00 on the east coast. the markets are presenting what i would say is a pause. not that much action ahead of the all-important earnings reports that start this afternoon with microsoft. busy hour for you just ahead. steve forbes in this hour. steve hilton too and sean duffy joins me as well. all right, everybody, now this. dennis guardman has clout. he's a wall street veteran and widely followed.

he frequently appears on this program. he's very worried about the state of the market. he is worth listening to because there is a lot to worry about. we're all enjoying this bull market which has been running for well over a decade. dennis gartner thinks it will end in tears. he takes issues with these spacs. that's where a sponsor, so-called sponsor, pulls in money and says i'm going the use it to make acquisitions. hundreds of spacs have hit the market recently pulling in tens of billions of dollars. did you know that the sponsor takes 20% of the money right off the top? that kind of fee, not based on any kind of performance, is unheard of. and they don't all have stellar reputations either. despite that, investors have been piling in, urged on by social media. gartner calls that, quote, greed and avarice, quote, end quote. he calls it stupidity and blind

hope, end quote. he's shocked that wall street lets its happen. well, there's a lot more to be worried about. there is a record amount of margin debt. simply put, that means a lot of people are buying stock with borrowed money. they're dangerously leveraged. there's this thing called the euphoria index. it's off the charts. everybody's bullishing. that is a danger signal. the robin hood crowd getting carried away. gartner asks, is the tesla worth more than the ten largest car companies in the world? is a $40,000 price tag on bitcoin justified? and what's with gamestop which was priced at $5 a share back in july but hit $160 a share this week? gartner thinks this is speculative froth and is a sure sign that the bull market is about to end. he says, and i'm quoting now, dance if you must while the music is playing, but dance with an eye on the door, because it can slam shut swiftly, entirely

and mercilessly. that's a warning from a guy who's seen quite a few burst bubbles in his time. the third hour of "varney & company" is about to begin. ♪ ♪ stuart: we need more commentary on this market speculative froth, and the best man to do it is steve forbes, on your screens right now. all right, steve, is this bull market going to end in tears? >> sadly, most bull markets do eventually end in tears, and another sign of thefront thinkness is the -- frothiness is the value stocks versus gdt which is at a record level, those not seen since 2000. we know how that market ended. the thing on this though is you don't know the timing of it. back in 1999 there were several notable people who were warning that we had a frothy market. you can't time these things.

we see with some short sellers like the disaster of melvin capital which got emergency investment to stay afloat, the timing is critical. but there were these chat rooms, and this is what's amazing, you have hundreds of thousands of day traders, small investors elsewhere moving in and out of stocks. so that just amplifies what we see now. and you also have the big thing is the biden administration is artificially creating headwinds for the economic recovery. so that's not good either. stuart: we've never seen anything like this before. i'm referring now specifically to the multiple day traders looking at reddit and acting through robin hood. we've never seen anything like this before. do you think it should be controlled in some way? >> well, the question is how do you do it without crushing the market or putting in excess regulation. and the greatest teacher is something when you get spanked

by going overboard. in the meantime, people are just going to feed on each other, and warning about it is not going to do much good. they're going to have to learn the hard way. i'm just amazed that given what's happened in the last 20 years in markets how many people now think this time is different. whenever you hear that phrase, stuart, this time it's different, yeah, the particulars might be be difference, but it's a bad sign. the one thing that people should never forget is emotions are yourmy in this market -- enemy in this market. your emotions are a poor guide. and the other thing to watch out for is all this money printing that's going to come with this the massive amount of spending, the $2 trillion package that may go through, the $900 billion passed late last year, the fed's going to be printing money, and that's going to lead to real consumer price inflation.

stuart: we are warned, steve. thanks very much for being with us. now this, california's governor gavin newsom says lifting the state's stay at home order was not political. steve hilton is with us. all right, steve, do you think it was political? >> there's nothing that he does that isn't political. mostly, though, it's not just political, but also totally incompetent the, totally cruel because of the impact it has on real people's lives and, of course, totally corrupt. the real politics for gavin newsom is doing whatever he can to get reelected, to win election. how does he do that? by pleasing his donors, the government unions. that's what almost every i move he makes is all about. that's why the schools still aren't open. doesn't mean everything's going to reopen in california, just means that his centralized statewide, regional lockdowns are lifted. he's going back down to misery dick louse micromanaged system.

it has this idea that technocratic government can micromanage mother nation and get a good result. it is completely ridiculous. we saw a study from stanford university that showed all of these shutdowns, all of these lockdowns have no impact whatsoever either on the rise in the number of cases, on fatalities, on aspect of the -- on any aspect of the virus. the whole thing is just a farce. actually right now what we really need is for the government to say, oh, just lift his stupid statewide stay at home order, but to say let's reopen businesses so everyone can earn a living instead of what he's actually doing which is going to joe biden and saying give us more money to subsidize the continuing lockdowns from the federal government. of it is completely ridiculous.

stuart: now, we are told that some businesses in california are in, quote, quiet revolt. it's kind of an underground development, restaurants, bars and stores may be opening illegally and surreptitiously. have you seen any of that? >> i have. and isn't it -- what has it come to, stuart, when people just want to earn a living, to serve their community, they're doing everything right, safely and responsibly, because they listen to the science, they listen to what we're told about social distancing and cleaning services and masks and all the rest of it. they do all of that, they want to earn a living. they don't want to be dependent on the government. they want to serve their customers, and they're having to do it secretly, underground, because we have this authoritarian clampdown which is not justified by any scientific or medical or public health reasons. it's outrageous that they're having to do it, but i think they're right to do it. stuart: i keep saying the

outrage factor is rising. you're a good example of that, steve, in california. thank you, steve. we'll be watching your show, "the next revolution," 9 p.m. eastern on sunday on fox news. steve, thank you very much for being here, appreciate it. >> thanks, stuart. see you soon. stuart: you will. now let's get to the markets, back to money. let's have a look at the big movers today. you've got the list, please. >> yeah. del rey surging on the back of medical cannabis, it was up over 11% a few minutes ago. etsy is higher after elon musk says he loves itty. that's right, the he -- etsy. he bought a helmet for his dog and, yes, who knew that elon musk was a trotzky fan, as you call can it, right? draftkings is up after goldman called it a buy, along with penn national. looks like microsoft as you

point out is announcing after the bell today, first billion dollar quarter on the back of the cloud and gaming. and finally bed bath and beyond getting two down grades this morning. ubs, raymond james. still, though, you're seeing some gains. i guess you're using a lot of those 20% mailed-in discounts, right in. [laughter] stuart: actually, i haven't received one in a very long time, but i used to use them all the time. susan, thank you very much, indeed. what susan has been describing are some of the frothy, speculative stocks, if i can say that, and gamestop is one of them. it's now up 15%. they've been taking investors on a wild ride. lauren are, the latest on gamestop, please. >> that's an understatement. the stock today didn't go negative and surge 150% in the same day like it did yesterday, but it's been volatile. volume is huge, and it has been halted by the new york stock exchange. so it's up more than 300% this

year, 2,000 % in the last 12 months fueled by social media. they're pouring life into a once zombie mall retailer, right? that's what gamestop was. they're tell thing users on social media to buy the stock, jacking up the price tag of it. this is very much david v. goliath, right in that's the trading that we're seeing. the small retail investor coming in and competing with the big guys, stuart. stuart what a story. amazing. thank you, lauren. one restaurant owner hitting back at officials in minnesota over covid restrictions. watch this. >> we're fed up with the government trying to control our actions. they're fed up with the hatred that's going on from both sides. stuart: she's obviously in revolt. and they came for her, yes, they did. we've got her story and her

coming up next. ♪ this must be heaven. ♪ i've got to testify, come up to the lot, let me exercise -- ♪ the day i die i'm gonna touch the sky ♪♪

cell phone repair. did you know liberty mutual customizes your car insurance so you only pay for what you need?

just get a quote at libertymutual.com. 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: with much fanfare, president biden signed his made in america executive order. he signed it yesterday. dean webner with us, the founder of, quote, authentically american. let's define what you do. you sell only 100% american-made apparel. is that correct? [laughter] >> absolutely, stuart. if we sold and produced anywhere

else but america, it would not be authentic. stuart: and it's 100%. i mean, if i buy some kind of sweater, the buttons are not made someplace else, everything is american, 100%, right? >> so, stuart, we have a contract manufacturing network established across 12 u.s. states, is so everyone loves our t-shirts. we produce those in texas, and those are texas cotton. we have amazing, fun patriotic stocks that i'm wearing today, those are carolina cotton, knit in carolina. there's a small, limited amount of fabric that just is not available here in the u.s., and that's a performance fabric, but we're three years old, stuart. and five years from now, let alone ten years from now, we want to make sure absolutely 100% every single button, thread, piece of fabric is here from the u.s. stuart: okay. you've been around for three years. tell me how your sales have gone from year one to currently.

>> stuart the, it has been a great continued upward climb here, and we were expecting to triple our business last year in 2021, but, you know, we were stifled a little bit with the global pandemic. we were only up 50%. but i will tell you now in the middle of the global pandemic everybody hates made in china, but they love that we're american made. and the interest in our brand is incredible right now. it's been an incredible ride we're on and incredibly excited about what the future holds this year. stuart: okay. let me come at you with this. you want to sell 100% american made. got it. but consumers, they don't look so much at where something is made. they look at price and quality. isn't that the first thing they go for? >> they do, stuart, and we have a trademark tagline, you know, where's yours made? and to give you a historical reference, when i graduated from west point in 1993, over 50% of

the apparel in the u.s. was made in the u.s., and today it's tragically less than 3%. i mean, that is all that's made here. but at the end of the day, stuart, nobody buys from us just because we're american made. we are a consumer brand, and we have to deliver an amazing product experience. and that's a what we're finding out right now. somebody will buy one of our t-shirts that they love are, this quarter zip that they love, and they experience that product and they say, dean, forget where it's made, it's just an aamazing product. and they look at the tag and see that it's american made, they go to our web site, authentically american.us, that's where they fall in love are because one of the stereotypes we're fighting, stuart, is it's american made, it's got to be overly priced. that's not the case. if you're buying a known brand whether it's nike, under armour, land's end, any moan brand, we are competitively priced. we're veteran-owned, american-made, premium brand, that or to your point, is

competitively priced. stuart: all right. we like to hear that. thanks for being on the show, we appreciate it. made in america. biden signs the order. thank you very much, dean. >> it was a pleasure. thank you very much, stuart. stuart: yes, sir. twitter letting users add notes to tweet they think are false. wait a minute, lauren, sounds like users can censor each other? is that right? >> what can go wrong? yes, absolutely. so this is a pilot crowd-sourcing feature on twitter called bird watch where you just can add notes to a tweet by any person, any company, any organization, and the goal is to combat misinformation. but who determines what's fact in let me tell you what some decisions have to say -- politicians have to say. republican congressman tweets this, very 1984. of course, he's referencing george orwell's novel about big

tech, government spying on citizens. and here's a congressman from colorado, crowd source censorship, what could go wrong? twitter says the tool is a way to add context to what people are talking about, but it could be seen as a way to censor one another. stuart: i believe so. but the stock is up 6% at $50 a share. how about that? >> look at that. stuart: yeah, look at that. thanks, lauren. one republican congressman, he's in florida, introducing a bill today going after beg tech. -- big tech. susan, i want to know which member of congress and what's in the bill. >> so florida state representative randy fine introducing that legislation that says the government should stop doing business with big tech. and, yes, that includes apple, amazon, facebook and google and also divest pension money out of these big tech stocks. why? well, because he says they can censor conservative voices including mr. trump and parler

as an example. >> viewpoint discrimination is dangerous. and while they may have the right to do it legally, we also have the right to choose who we do business with. when you tell half of your customers to pound sand, they tend to believe you. and i think's what these companies have done. >> now, we'll see if it passes. there are other similar bills being considered and tallied in other states and possibly in tennessee in the future. so big tech is definitely under the microscope here. stuart: one more for you, susan. the two richest people on the planet, elon musk, jeff bezos, are they fighting over satellite internet projects that both of y mk m versusersusers bez on inong feud betud benwehe t thehe rit op,opnd,hindnd time erov tir tir tir satelliatelte t ojprtssa, llesllithallitll bm intern inte bk bowk b tk b tar aceshaes c't cet'tetet sig slsna hedreheow n spagg ing in on of thecccccc monkuset t tgha is does no snove she publio to

haintr starl stak for f a a azoo emhahas9s9s9 at bt, bt, veraseve yraeaseve yeaveeaeaway. o try to t convincevivi fcc offiofals that ihathotdho allowa company mpto me some som of theistarlinkar satellitess to lolotude, low lowow than tn igallylanned azonazmoaz thehe cpanies lobbnghengngcc to say, no. musk and bezos have gone head to head in cars, space ventures and, of course, internet satellites. you would think with $200 billion in the bank for each that they'd have better things to do maybe? stuart: no, no, it's very important, this space -- >> of course it is. no, it's bragging rights. it's money, it's future revenue because this is going to be a trillion dollar business if they get it right in the future. stuart: yeah, i think it will be. it's a big deal. susan, thank you. the covid pandemic has, indeed, killed more jobs than the 2008-2009 financial crisis.

ing how many more, ashesome -- ash? >> how about four times as many according to the international labor organization. covid restrictions on businesses and public life destroyed 8.8% of all work hours around the world last year. that, they say, is equivalent to 255 million full-time jobs. indeed, quadruple the impact of the financial crisis over a decade ago. the report says it has been the most severe crisis for the world of work since the great depression of the 1930s, and the impact has been almost equally split between reduced work hours and, of course, huge job losses with women and young people taking the biggest hits, stu. stuart: i think that's accurate. thank you, ashley. >> yep. stuart: did you hear about this? the mayor of portland is ted wheeler. a man who confronted him over

restrictions. dedale tails just a-- details just ahead. the house has delivered the articles of impeachment to the senate. could a trial backfire on the democrats? excuse me. there's the slow march to the senate with the article of impeachment. backfire? we'll see. sean duffy on that in a moment. ♪ can't read my poker face. ♪ can't read my, can't read my, no, he can't read poker face ♪♪

♪♪

sofi made it so easy to pay off my student loan debt. they were able to give me a personal loan so i could pay off all of my credit cards. i got my mortgage through sofi and the whole process was so easy.

♪ express yourself ♪ ♪ ♪ express yourself ♪ ♪ stuart: 11:30 eastern and the markets are going nowhere at the moment. a change in the s&p 500 and nasdaq up a tiny fraction the dow up 24 points. earnings reports from big tech this afternoon with microsoft. we have been talking about that slow walk that house democrats did last night to deliver the article of impeachment to the senate. masked house member slowly walking across their, well i want to make any comment but i want to bring in sean duffy. i can't believe it. the first question sean, do you think this eventually backfires on the democrats?

>> absolutely stuart. democrats obviously have overplayed their hand an uzi reported and others on the network have reported democrats have been looking to impeach donald trump from the day he was elected so to now impeach president trump after he is left office is absolutely ridiculous. we have to ask the other question stuart why are they doing it and i think democrats are frustrated that 70 million americans don't have faith in the electoral system whether the results would have changed. you can debate that the do people feel secure with the mail-in balloting and how the rules were changed without legislators and how big tech actually censored information from people to see what happened with hunter biden and his laptop and joe biden getting money from china? all those were issues that americans were frustrated by and i think democrats think if they go through this impeachment process they can shame those republicans who don't have faced an electoral system into believing they are wrong and frankly they aren't going to be

able to do that because there are no concerns about how this election was implemented. stuart: when this thing gets going and i believe the trial starts in the senate on tuesday, february the ninth, we will see you 100 confined to the senate chamber constantly doing nothing but sorting out impeachment. i think the country will revolt, well not revolt against it but take a dim view of that kind of thing. i have a second question, will this impeachment backfire on the republicans because it will show who supports president trump and who doesn't. it will show a split party. what do you say about that? >> i think those republicans that vote to impeach will have a hard time in primaries back at home with re-election. i think that is true steward but i also think we have an opportunity to have a real trial where witnesses are called and evidences his prevented in the american people will tune in and

see what actually happened when the capitalist arm. this charming happen before trump entered the speech did the fbi have information that there was going to be an attack days before it actually happens? all that information is important. what did donald trump say that would have instigated people to break into the capitol? we will hear all that evidence and americans will be able to make the decision for themselves about whether impeachment is appropriate and by the way stuart there's no we will look at 17 republican senators to vote for impeachment so this is a political trick and by the way if you say you want to unite america this doesn't do anything for uniting the country and it's going to set his agenda backed up much further because the senate can't do anything but impeachment. they can't work on any of his priorities. stuart: why do you think are the chances that a they don't get a trial going at all, b they cut it short because they know they

are on a losing issue here? what do you think the chances of that are? >> i think they are slammed steward. the laughter wing of the democrat base want a piece of donald trump tied for second impeachment so i think it's going to happen. there will be a full trial and there will be a full vote in that will take a minimum of a couple of weeks maybe longer to have all the evidence heard so this is going to happen because if democrats step away from impeachment the left-wing, the radicals will scream bloody murder and democrats will have a problem with the primaries back at home if they don't go forward. stuart: you are right sean. sean i'm out of time but thanks for joining us this morning. see you later, man. thank you. now this president biden's press secretary is condemning the west coast riots but the president, president biden did not. let's go through it ashley. ashley: you are absolutely right

stu president biden has basically very little to say about the antifa writes on the west coast an oregon and most recently in tacoma washington but businesses are being damaged, fire said and police officers injured. and no solid condemnation from the white house over the violence. "fox news" is peter doocy off the white house press secretary if the disruptor protests are acceptable and here was her response. >> peaceful protests are a cornerstone of our democracy but smashing windows is not protesting and neither is looting and actions like these are totally unacceptable. ashley: we haven't had that kind of statement from the president. the white house has anyone will be prosecuted to the fullest extent adding that the situation in washington and oregon is being monitored closely. stuart: thanks ash.

ted wheeler mayor of portland oregon pepper sprayed a man who confronted him about his covid restrictions. take me through it. what happened lauren? >> the man wanted to know why mayor ted wheeler was not wearing a mask while he was dining in a restaurant. he explained what the covid rules were and warned him back off you don't have a mask on right now and i have pepper sprayed which he eventually had to use. it's not the first time mayor wheeler has been targeted in a city that has been rocked by protests and riots for months and stuart perhaps the democratic mayor is now fed up. listen. >> we actually and fortunately are seeing this growing trend towards people saying that if you don't agree with me politically, we are going to come after you either physically or we are going to come after your home or we are going to come after your place of business. >> they did go after his -- his condo building was damaged by

writers and he's been targeted dining at restaurants in the past so would you make the argument that the democratic mayor of oregon says enough is enough? >> i'm surprised it's taken so long to figure it out. it's been years. where's he been? thank you lauren. now this, president of china xi jinping warning against the quote new cold war with the united states. this was at the world economic forum in. close. >> a virtual event this year was xi jinping speaking in beijing. he's talking about a new cold war. others will only push the world into division. some read that as a veiled attack on biden's plan to team up with other countries to counter china's growing influence but xi jinping use likeable terms like inclusive growth redevelopment local

governance and consensus building. we know president biden has said he is not going to let the china terrorist right away. it might take some time that we are and they two horse race meaning there are two superpowers dominating the economic world in the next five to 10 years and that is the u.s. and china china. you mentioned is starting up this week the largest recipients of international, international donor dollars went here in investment dollars went to china instead of u.s.. stuart: in the united states got 40% less than it did the previous year products or retreat from america and move into china. it's a big deal. student -- susan thanks indeed. a deadly tornado ripped through alabama overnight. significant damage all across the state. first though covid passports. it may become a reality for mandatory testing for already

struggling airline industries. we have that and more ahead for you. nicorette knows, quitting smoking is hard. you get advice like: try hypnosis... or... quit cold turkey. kidding me?! instead, start small. with nicorette. which can lead to something big. start stopping with nicorette what day is it? these days it can be easy to lose track of things.

did i feed you? but taking prescriptions shouldn't be one of them. cvs simpledose presorts your prescriptions into packets, so you know what to take when. delivered at no cost. is this clean? visit cvs.com.

stuart: covid passports going into effect today. this means if you are going on an international flight you have to show proof of a negative test, that would be your covid passport. tell me more just. >> starting today steward if you want to come into this country as a citizen nor come here as a foreigner or a traveler you have to give proof of a negative covid test. this is the international term -- terminal where people come into the country. you have to have the test within three days of travel. you have to provide either

written proof or electronic proof and if you don't have roof you can't get on the aircraft. that applies to u.s. citizens as well as travelers coming from abroad for her whatever reason here to the u.s.. the problem is some countries of art implemented this and they found not everybody is truthful with their proof. talking to one anonymous traveler quote i just fired up photoshop and change the date. resumable eu can change the names on these and photoshop something. there is a way around it and in addition the cdc even issuing this regulation which they did by the way and are the trump administration a couple of weeks ago. they said and i quote dr. redfield now testing does not eliminate all risks. if you have a test whether or not that is or not i don't know. it's not going to help this fledgling airline industry and i

would imagine this won't make it any easier. stuart: thanks jeff locke at o'hare. look at this a deadly tornado sweeping across birmingham alabama overnight. ashley do you have the latest please? ashley: we know at least one person is dead and dozens injured after a tornado last night described as large and extremely dangerous ripped through the birmingham alabama area the twister ripping through a hotel and tore off part of the church's roof. about 30 people in the town were reportedly injured. authorities say also the power lines fell on interstate 65. that's a major interstate through the region. that caused accidents truly terrifying as this tornado hit last night when it was pitch black. it was extremely frightening stu. stu: yes it is, been in that kind of a wind storm and it's

not fun. thank you. now this the nba's miami heat welcoming fans to watch games in person but they will have to get through covid sniffing dogs first. how about that? minnesota is suing a local bar for opening up despite restrictions are that bar's owner is fighting back and she is going to join us, next. ♪ ♪ ♪ ♪

♪ wanna lose weight and be healthier? it's time for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home.

so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business.

it's time for sleep number's january sale on the sleep number 360 smart bed. you can adjust your comfort on both sides... your sleep number setting. can it help me fall asleep faster? yes, by gently warming your feet. but, can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable.

will it help me keep up with mom? you got this. so, you can really promise better sleep? not promise... prove. and now, save $1,000 on the sleep number 360 special edition smart bed, now $1,799. only for a limited time. to learn more, go to sleepnumber.com. >> we are fed up with the government trying to control our actions and we are fed up with the feature that's going on from both sides. they are set up with the pain that people are feeling because they are not being heard. stuart: that was lisa monet. she owns alibi drinker in minnesota. the state is suing her because she opened up against covid restrictions. lisa monet joins us now. let me be straight out of it, they are going to run you.

they are going to come right after you and try to put you out of business. are you prepared for that? >> we are prepared for that. we were left with literally no choice. we were shut down in the spring for 2.5 months and it was looking like it was going to be two to three months. leon to restaurants and there was no way we could lose six months of revenue again. stuart: are other bars and restaurants doing the same thing, without going public? we get a lot of reports of an underground, people opening up against the restrictions and saying nothing about it in modern-day speakeasy. have you seen anything like that? >> i've seen quite a few bars opening up across the state and like you said they are keeping it on the download you could say and not making a public. we are in the mid-in the --

middle of the minneapolis-st. paul area. we are a small town and we didn't have the choice to open and let people know so we figured if we were going to open we would make sure we have the support of the people behind this understanding why we are doing this. stuart: so the state has sued you. are they trying to fine you or what? >> we have had three different lawsuits against this one from the attorney general and that included a temporary injunction, restraining order and contempt of court with fines attached if we continue to operate. we closed for three days until the governor's executive order allows us to reopen on january 11. we also have the minnesota department of health, we haven't got the paperwork that they are intending to take our service license. we have passed every single

licensing requirement. we pass all the inspections with flying colors and their alcohol gambling enforcement division of minnesota are threatening to take our license away also. stuart: keep the faith lee said. what they are doing t. was terrible. lisa monday, we support you, support you. come to us again and tell us what happens. thanks lisa. i'm going to move on but let's talk to about this miami heat story. they are going to screen fans for covid before the games. you have to be screened by dogs. that's an intriguing story actually. ashley: that's quite a headline. listen the dogs are trained to sniff out toms and drugs and in some cases they are trained to sniff out the disease including cancer. so why not covid? the nba miami heat will

reportedly use these coronavirus sniffing dogs at the american airlines arena to screen fans who want to attend the games with this thursday's game against the l.a. clippers. a covid-19 detection dog will screen everyone in line simply by walking past each person. if a dog signals on you by sitting down you and your group will then be directed out of line and denied entry into the arena. if the fan is allergic or afraid of dogs that miami heat are offering an option that you can skip the dog screening and submit to a rapid antigen test instead but fascinating and apparently the dogs are very accurate. stuart: a sign of the times i guess. thank you so much indeed. it's tuesday and we are waiting for the big results to commend the markets going nowhere until we get those results. the dow was down a fraction.

. . . . built just for customers 55 and up. saving 50% vs. other carriers with 2 unlimited lines for less than $30 each. call 1-800-t-mobile or go to t-mobile.com/55.

robinhood believes now is the time to do money — without the commission fees and account minimums. so, you can start investing today, wherever you are — even on the bus. download now and get your first stock on us. robinhood. ♪. stuart: the theme own our show today haas been speculative froth we have indeed seen on the stock market recently. i've been quoting he can tense civilly from dennis gartman a

frequent guest on this program and a veteran analyst. he says the bull market will end in tears. why? because margin debt is at all-time high. a awful lot of people buying stock using borrowed money. that is dangerous. the euphoria index is off the charts that can be a danger signal. bitcoin, goes above 40 thousand dollars a coin. he doesn't think much of that. he is worried about the spacs. that is blank check money, the sponsor of the spac, brings in ton of money, takes 20% off the top, i will use the money to buy something, buy another company. there is speculative stocks in the spacs in the extreme. dennis gartman says it will end in tears. gamestop, that is not a spac. it is an old line stock but it is up 14% today. it had been an 160. it had been $5 a share.

that is speculative froth. the other story is microsoft. they report after the closing bell today. the stock is moving up as we approach that earnings report. it actually hit 233, a record high earlier today. the results come 4:00 this afternoon. times up for me. neil, it is yours. neil: stuart, thank you very much for that. could explain lower than normal volume in issues. waiting for microsoft. tomorrow, waiting for apple. that could be the first company to report 100 billion-dollar revenue quarter. maybe highest earnings than any company in u.s. history. that is tomorrow. microsoft is today after the closing bell. i want to thank first my friend david asman, who is monitoring the same developments in my absence yesterday. what he is talking about then we are talking about right now. the nasdaq, attention it is getting. it is getting too much attention? read from dick grasso the guy who once headed the