it's been a great show. dagan, brian, thank you. you probably have a comet about tesla, dagan dagen: don't bet against elon musk. maria: we will see you tomorrow. "varney & co." begins right now. take it away, stu. stuart: she is right about elon musk. good morning. robinhood has imposed some trading restrictions on eight different stocks including gamestop. and this may not be popular, but it's cut the volatility of gamestop stock. of their heavily shorted stocks are active, but not extreme price movements we saw last week were the same contagion. dow industrials will open maybe 200 points higher, a gain for the s&p and again for the nasdaq indicators were

dragged out last week because of the fallout from the short squeeze, but that short squeeze-- i'm not going to say halted, but tempered today so the mainstream futures market is on the upside. however, there's a new target, silver, looking to hurt the short sellers of the precious metal without online crowder's raising the price of nearly $30 announce, a price we haven't seen in a long time. this hour dennis gartman answers the question is the short squeeze winding down. dennis raised that danger signal early end at 11:00 a.m. larry kudlow, now my colleague at foxbusiness and offers his quote unrestricted opinion on the wall street frenzy. politics, a test today for president bidens call for unity as 10 republican senators go to the white house to discuss covid relief, the president once 1.9 trillion and the republicans 600 billion,

very important, when the president compromise in the name of unity? that will be difficult. bernie sanders heads of the budget committee and demands it all, not lists-- just a test of unity, but a test of the socialist power. then there is the weather, big winter storm disrupting the lives of maybe 100 million people. right outside our studios, you look at sixth avenue in times square, soon it will be snowing an inch and hour here, the worst is yet to come. how about that. that's a snowstorm. monday, february 1, dennis gartman, unity and a blizzard. "varney & co." is about to begin. ♪♪

stuart: how about a magic carpet ride? the carpet is heavily snowed under today. let's get to the latest robinhood's trade restriction. susan, what is robinhood restricting now? susan: happy snow day. yes, gamestop and blackberry among the eight stocks limited how much users can buy on robinhood. you can only buy one share and five options and also restrictions on express and others. robinhood has eased up on her restrictions from friday afternoon when they put limits on 50 stocks including less frenzy names like gone to meet and starbucks so with limits on what the average trader can buy robinhood is being blamed for helping the hedge-- hedge funds class with a cheaper way to exit their short positions. robinhood ceo said that's not the clay-- case which is blaming

clearing houses which required 10 times more cash with the record volume we see an option trade. i was reading goldman sachs note over the weekend who predicts more broader market selling, the biggest hedge fund selling and deleveraging and shifting in 10 years to the global financial crisis, but record holdings of the stock means have more to sell. how long will it last? who knows, but berkeley says probably it's a big part of the overall trillion dollar stock market so it will be short-lived to. stuart: okay, well that opinion there is next. let's turn to silver because it looks like that's the current target of the short-sellers. would we have on this, lauren? lauren: well, the reddit army has come for a physical asset, silvery commodity at one point had passed $30, we have not seen that in 18 years, so why silver is the question.

you could say it's cheaper than gold if you want to play an asset class, so easier to move if you have whole army buying in, but it could also be a way to hurt the banks, the big banks that hold silver. bow-- most banks and hedge funds are long silver, so not betting the price falls. they are betting the opposite so it's quite a different gamble for the reddit's army of traders than gamestop and there's talk maybe the hedge funds have coordinated with this attack. stuart: that will always be that top. let's bring in keith fitz-gerald on this monday morning, february 1. obvious question, is the short squeeze over or at least winding down? >> i think it's winding down, but i can tell you that game is a long way from over if the buzz i heard over the weekend is in the indication has hedge funds are we thinking their short argument and their value

at risk and i guarantee you there will be a response. i expect them to swear off against about reddit raiders. stuart: what does that mean? >> i think volatility will increase as they figure the game out. they are substantially more capitalized, so if they can bring that to bear i think the social media folks make it a day or they didn't count on. stuart: so, are you saying at the end of the day the little guy could lose this one? >> unfortunately, the little guy if he doesn't lose will have some claw marks on his back because one thing you don't want to do is tangle with wall street insiders who have the upper hand and i think with the reddit army did was fantastic. it's been a long time coming. so, i applaud what they did. on the other hand, the coin will turn. i don't know what it looks like, but i don't want to be within a country mile of it when it happens. as far as this game goes, a long way from

over. stuart: are you buying into the tip in the tech? >> i did friday. i bought some apple and picked up some shares of tesla. too early to tell if it was a smart move on my part, that there's always opportunity, but the question is how do you look for it and in wetlands. quality companies will be around and doesn't phase me as an investor. stuart: thank you. with a big tech, left-hand side of your screen, all on the up side premarket this monday morning. let's move away from the short squeeze, away from the market and money because i have good news , new covid cases are following. that's interesting. by how much, lauren? lauren: 40% in the past three weeks indicating the christmas surge is over, so transmissions are slowing. hospitalizations are down and of the cdc's says 30 million

americans have been vaccinated. experts are warning don't get cocky because the more contagious various could derail that improvements your cases down, goodness. stuart: okay. we have the short squeeze dell with that. covid cases, dealt with that. let's turn to politics because president biden is about to meet with 10 republican senators at the white house. they are proposing a $600 billion stimulus deal, a very far cry from the 1.9 trillion the president wants. edward lawrence in dc with us now. edward, 600 billion versus 1.9 trillion. will there be any compromise? >> that is the billion dollar question. the meeting was called hours after 10 republican senators senate president joe biden a letter calling on him to negotiate with republicans. the president ran on unity and so far has not talked to republicans about his executive

orders or when his administration came up with the relief package. to republicans believe 600 billion-dollar package is more targeted and could pass with bipartisan support. 10 senators-- it would go a long way from the republican side and in this package there are still $160 billion for a vaccine, testing, treatment and personal protective equipment and direct payments to americans. senator tom cotton says there needs to be pushed back against the far left that once to just spend uncontrollably. >> there's no reason to abiding can't work with republicans in congress for bipartisan legislation if he's willing to push bernie sanders to the side and work with republican senators. >> the republicans in the letter argue the white house actually needs to reach out instead of trying to ram through a spending package only using democrats.

the group of republicans in the letter is led by more moderate members, senator susan collins and senator makowski. stuart: can we get a compromise? that's an open question, but we could have answers by the end of the day when we see senators walk out of the white house we will have a good idea. >> and down the road a bit on that $1.9 trillion spending package so it could be hard to reverse course now that the ship is going that direction on the democratic side. stuart: thank you. let's get to the weather , of primary importance to a lot of people today. look at sixth avenue. it's only the beginning of the storm. 100 million people in its past. janice dean has the latest in a moment. remember last week, dennis garten who raise the red flag over the short squeeze. he's back and i will ask in that same question. is it over? a check of futures, this is how we open up, to

the up side, 200 the dow jones, 1204 the nasdaq. back in a moment. ♪♪ ♪♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪

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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. act now. stuart: it's monday, february 1, and on the left-hand side of your screen the dow jones is about 200 or will be at the opening bell.

solid gains all-around. on your screens, these are the eight companies on which robinhood placed restrictive trading. that has cut the volatility in the stock prices significantly this morning, certainly premarket. bring in dennis gartman. dennis is the guy that raised of the red flag last week, got us all thinking about this and he is back this morning. dennis, obvious question, is it over or even pointing down? >> its winding down, but it's far from over. the short position still exists in almost all of the stocks you have listed plus a few more. wall street found itself in an uncomfortable position and now it's not over. i'm afraid it could last another week or two in the longer it lasts the more probability we have the government will intervene to unsettle trading even more so to answer your question bluntly, no, it ain't over, not for a long time. stuart: is it the trading

restrictions robinhood placed on these eight stocks, is a cutting down the volatility? >> no question, stuart and i think robinhood is doing the right thing by impeding trading a little bit by reducing the volatility, by reducing the public's participation in making it more difficult and by using the own rules they have set up that they are allowing that the agreements that people sign when they opened accounts. firms such as robinhood have the right to restrict trading, resume trading and in my opinion they have done the right thing. i know it goes against the concept of a open free market, sometimes protections have to be taken or not i think under the circumstances robinhood has done the right thing. have they done a good job of explaining? know, has up-- the public done a bad job of trying to run this up, yes and it's not over. the problem that we have

is there will be more short covering has to be done and as that happens and as margin calls go out to the hedge funds and margin calls will go out to them, as they get those they have to raise liquidity and they find themselves under a squeezed position in the silver market, so it's not done. stuart: here's one more item, nasdaq chief executive officer, this is january 27, just a few days ago said that the exchange would halt trading in any stock if they match unusual activity with social media chatter. that's another possible possible imposition of restrictions which cuts down the volatility in the contagion so you think it's whiting-- winding down but not over? >> will they do that? i have my doubts. they are exercising

their right and telling you they have the obligation to do that. will they do that? i have my doubts to whether that will be needed and irate-- i think right now everyone is taking a deep breath from last week's trading and i think things have settled down, but it's a long way from being over, stuart. stuart: but at the end of the day when it is over, is the little guy going to be left holding the bag and losing his or her shirt? >> the little guy that treated in gamestop and other companies that found themselves unbelievably short will do fine people that will do poorly are the people long exxon, ibm, apple on the other blue chip stocks that are being sold off because they have to be sold to meet margin requirements. secondly the public having felt they have now learned how to trade the markets and they have had one great experience will probably

become a little exuberant and do the wrong thing and average into losing trade and buy something that was $100 a share and they buy more and $90 a share, by more it 80s, 60, 50 and puke when it gets to $30 a share. that's a problem i see with the pressure on the broad market as hedge funds are forced to raise liquidity putting downward pressure another stock prices and the losses created as the market falls what 700 points friday, downs to this morning hundred 50 points as far, but we are long way from where we were in the real problem will be in a couple weeks as stock prices go lower and people average into losing trades. will the ones who have been short bank money, they have had a good time. they will feel comfortable trading and therein lies the problem. that's where tears will falsely went dennis

gartman, thank you for joining us. come back soon to explain what's going on. thank you. stuart: something really different hair, the new york young republicans club, we don't see much of them, but they were out and about over the weekend. lauren, is this about wall street's fighting the big guys versus the little guys? whose side is the young republicans aside on? lauren: the reddit side, the date traders so they are protesting in their words to bring down the correct hedge funds for rigging the system against the little guy in the call this movement working-class populists. yesterday afternoon, the same place as the occupy wall street protesters who rallied against economic inequality had to set up camp, that these reoccupy protesters if you will say we have jobs to go to monday even if it is

snowing we will shower, not out but we are coming here to protest the system being rigged against the little guy, the daytraders. stuart: who they say is rigging the system. got that. thank you. then there is this, mets owner, owns the new york mets, hedge fund billionaire, steve cohen has left twitter. susan, this has to do with gamestop; right? susan: he received threats against his family on the gamestop backlash. he said he has enjoyed the back-and-forth with mets fans but it was overtaken by what he calls this information unrelated to the mets resulting in his family getting personal threats. steve cohen injecting nearly a billion dollars into capital which is a short seller hurt by the reddit trading brigade. .72 also reportedly

doubt around 10 to 15 persona because of melvin capital losses on gamestop and you also had david portnoy on the show last friday accusing steve koza nancy to delve of colluding and asking robinhood to limit trade so the hedge funds could get out cheaply ripping off the average investors and david portnoy was not holding back. he was talking about fire in the past with steve cohen in other trading days. stuart: getting pretty fiery and steve cohen is out of twitter, understandably. susan, moving on. i'm going to show you what's going out happen at the opening bell later this morning with about six and a half minutes to going, going up this monday morning. we will be back on-- with more on that after this. ♪♪

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on your screen's right now the heavily shorted stocks, as you see the volatility except for amc has really calmed down because of restrictions have been placed by robinhood on eight different stocks so volatility calming down a little.

jeff sica is with us. i know you support the little guy, but it ended the day will it be the little guy who loses here? >> that's a good question, stuart. last week i was elated to see the little guy finally when it felt like i was watching the movie clad a leader where maximus overcomes the roman empire, but there are real concerns that i have i mean ultimately the free market will in fact prevail, but a lot of the strap the institutions have set up for the little guys to take on these margins and what i see is yes, and the little guy could prevail if they learn first of all that it system is rigged against them since the beginning and if they understand that and realize to win that game they have to keep out of margins. they have been given this margin out of 2.99%

, less than it costs for a mortgage. they have run up debt and if this thing turns as it always well, they will get caught holding the bag and ultimately fall into the trap of the institution, which in the long run someone was sent to lose. that's the irony. they had been set up to lose they have to learn that there are things they could do to win and they will win if they keep their head and not get greedy. stuart: bitcoin, i know you like it, but so far it's not benefited and not really been part of the short squeeze resume , has it? would you say? >> here's what robinhood did again and i and so livid at robinhood, beit curbed our cryptocurrency trading because there's a massive shorted bitcoin from hedge funds about a billion dollars. what i see is that bitcoin will, in fact,

benefit from a short squeeze, but what i like about bitcoin is it has so much more going for it than simply the fact that a few hedge funds are holding it, stuart, so i think bitcoin will move up. i think it will move quickly but people that keep their heads in the meantime. stuart: we all have to keep our heads. jeff sica, thank you. we now have the market opened up this monday february 1, and who we have opened in the green we are up 272, twitter 50 points, about .9% with the dow jones 30200. solid gain on a monday morning for the dow jones. s&p, it's also-- actually a nice gain, 1% rebound for the s&p a monastic, we saw big tech moving up earlier and yes the nasdaq is up one and a quarter precent.

that's quite a rebound, 13200. big tech is at the heart of the nasdaq, all on the upside, google, amazon, microsoft, facebook up. how about the shorted stocks? nothing like last week, may be amc is the standout up 21%, but gamestop is down 10% of falling, express down 10%. again and following. j.p. morgan tried to calm concern about the reddit short squeeze spirit what are they saying? susan: the brokerages are trying to handicap the short squeeze. they are saying j.p. morgan saying it's a short-lived technical tumble, nothing long-lasting. they say look at company earnings which is fantastic so far in us consumer strengthening with another stimulus package likely to be approved. they are saying by the dip. berkeley is also a guess taking them what

happened in the stock market action and they say calmed down short sales at the lowest since 2008, also at a miniscule part of the overall 43 trillion-dollar stock market. that won't have a bigger impact on the overall stocks, so they are saying calmed down for now the fact that you have gained stop trading below $300 i think they are taking that on board today. stuart: you have that right, about $294 as we speak, down about nine, 10%, extraordinary volatility in gamestop this morning, but amc up pretty strong, 21%. 20% gain. lauren, is the reddit army convinced amc is the next gamestop? lauren: it seems so. seems like they are doubling down on that that because amc was up 200% last week, but even those are extreme robinhood restricted trading on amc and seven other popular stocks and

a brokerage and km downgraded it to a cell with a 1 dollar price target. is at 16 now and analysts call this the save amc movement and he said it will be killed by the amount of debt amc holds, the rent due and time so he doesn't believe in it for the long term. stuart: fascinating. gamestop down, amc straight up. let's get back to bitcoin. elon musk act it again. what's he saying? susan: i will teach you about clubhouse. have you heard of it? stuart: i have now. susan: elon musk on clubhouse late last night started 10:00 p.m. la time so clubhouse is a hot invite only live audio version so think of it as a live podcast that you can join, invite only, so exclusive and elon musk confirming he's a bitcoin believer and that

bitcoin is on the verge he says of getting broad acceptance by conventional finance people he can move the market with a single tweet as he did last week when he added #bitcoin to his twitter profile with bitcoin jumping 20%, $5000 in the span of an hour but also check out what's happening with the tesla as he's getting benefits today from pieper sandler who raise their target price to $1200 on the stock. tesla reach the 500,000 delivery market and 2001 -- 2021 will only better from here. stuart: i'm going to look at other stocks serious of said action. these are silver stocks. pan-american up 60%. pan-american up 16%. lauren, this has to be the short squeeze; right? lauren: it is, the reddit army now going after silver, physical

assets and commodities and also look at the world's largest silver etf, blackrock i share and i'm bringing it up because it's up 11%. it's interesting because it's much more assessable to day traders if you can buy a share of an etf rather than the futures or commodity contract. on friday because we saw this silver trade start last weekend on friday the biggest impose ever and they might exceed that today said now you have the reddit army taking on silver and we will see what happens with it because most investment houses are long silver, not short silver which makes the trade interesting trick it's an interesting gamble. stuart: thank you. here's another one that's moving, virgin galactic up nearly 9%. even though i believe it got a downgrade. what's what not. susan: they are going to retest the spaceflights in less than two weeks.

remember they scrapped the december flight test in the space tourism company said the point of the test was to test the onboard computer. virgin galactic we know has been a short squeeze play part of the favorites on the reddit brigade so stock has doubled over the past month with some try to kill the shorts by buying into the stock. virgin galactic with-- we had around 600 reservations at the majority tickets sold between 200 to $250,000 a person, but they are behind schedule since they floated the idea of flight into space on the first quarter of this year. they have barely got their first test flight off the ground. stuart: the question is, how do you put a value on a stock in a volatile market like this when the actual business of the company has little relation to the actual value of the company? susan: exactly. when the fundamentals are driving the stock

price it's hard to value and morgan stanley downgraded it today but look as where the stock is moving, up. it's been a short squeeze favorite because people are concerned about whether or not those reservations will actually turn into revenue and ticket sales stuart: fairpoint. let's move on to the vaccine people and look at novavax, what a gain, 15%. was the news? lauren: they had results from a uk trial, which showed their vaccine for covid was 89% effective, but the ceo says us regulators fda look at the uk data, look at the trial and use that to brett-- grant us emergency authorization in the us because if you don't we will have to wait until late march, and we need shots in people's arms. that's what he is saying about novavax. we will see what the fda does but it's up 16% today in the efficacy

rate in the uk variant for this shot is any 9% -- i think it was 86% for the new variant, so a new trial all around. stuart: that helps, obviously. the market has been open for eight minutes and we have an upside move to the tune of 271 points for the dow jones, 30252 , that's a monday morning modest rally. was the yield on the 10 year treasury? up a little bit. was the price of an ounce of gold? going nowhere despite volatility, up $17, but $1867 per ounce. silver, that's where the rally is up 11%, reddit traders buying the price of oil, not concerned about that as it sat $53 per barrel. then we have acorn encouraging people to

invest in their spare change. right now they have an unprecedented number of retail investors flocking to that out to the company ceo joins me in the next hour. senator warren says it's time for the fcc to get involved with wall street. rolled tape. >> it's a rigged game and it's been a set of players who coming to manipulate the market. time for the fcc to get off their duff and do their job. stuart: she wants the government to take a big piece of your stock market profits. we will be back. ♪♪

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>> if we want to change the row, i'm fine with that, but you cannot change them overnight. the reddit guys, the wall street guys, we can't let them do that. new trading platforms and i'll is shaping the future of how wall street works. stuart: well, they have changed the rules again because robinhood placed restrictions on eight stocks. by the way, that was david portnoy, founder of portnoy bar schools-- barstools. dan davis is with us and his firm focuses on short selling. welcome. at the end of the day, do you think the little guy gets stuck holding the bag? >> thank you for having me on, stuart. i absolutely think the little guy will be stuck holding the bag and

because for the last 30 or 40 years i have been paying attention the little guy gets stuck holding the bag. senator warren comes out these programs and says the game is a rigged and i agree with her and her she should know because congress rigged to the game. when we let the banks write your policy in your loss and to sign off on it, of course it will be rigged and i wish members of congress with stop pretending they have nothing to do with this. they have everything to do with this. this is on them and their policy. stuart: take me through this because we have a little bit of easing up on the volatility in these heavily shorted stocks this morning, just a little easing up. how does it play out the next couple of weeks, so as you say the little guy loses, take me through it. >> well, the first thing to realize is that this reddit army, these users aren't unsophisticated, they are very sophisticated and have

pointed out there was an opportunity to squeeze at gamestop because you think they're 70 million shares trading but there's only like 4 million shares trading once you take out insiders and passive investments and you have passive investment vehicles like fidelity, blackrock, vanguard who zero mike 70% of gamestop. forget about why they are in a, why are they still in it because that is pension money and i would think retirees and my family and my parents will want that money. they haven't signed up for some rebellion, so they are going to sell at some point and that's when it starts to collapse when 70% of holders beside lending out the shares isn't worth it anymore because that's how they are making money now. stuart: fascinating. real fast, dan, you are a short seller have you been threatened online? >> of-- i call that a monday way tuesday.

it's been more lately and it's really wrong in the sense that activist short-sellers provide transparency and price discovery. i have been a part of getting 12 china -based companies d listed for fraud, who will do that if we are out of the market? investment bank analysts? that's not what they do. look back to may 2008 so we need that in the market and we have to understand it's an institutional level problem and having 140% of a company oversold because institutions are lending out the shares and getting enormous fees creating a two for one chair ownership. stuart: dan david, good to have you on the show. we appreciate it. we do like to hear from you or could dan david everyone. hedge funds, yeah, they lost billions in the gamestop short squeeze.

give me the numbers. susan: i agree with your guest because shortselling as part of a healthy market, price discovery and someone has to take the other side of the bet but don't you also think it's a cardinal sin for a short seller to take 140% of the float of the capital and the stock traded each and every day, like you are asking for, or chew? stuart: you are asking for regulation. i would have thought fcc should step in when a stock is behaving and used like that. what you say? susan: i agree that's why melvin capital is the biggest casualty in this entire gamestop frenzy as they locked over 50% of their 12 billion-dollar funded to the reddit trading brigade. citadel was part of this bailout and he was down 3% in the month of january and so was steve cohen, so there were casualties here remember melvin capital said last week they were already closed out of their

gamestop short position so when it goes up to $500 you might not be hurting melvin capital anymore and speaking of shortselling casualties andrew left said friday he's no longer publishing his short ideas after recovering his gamestop shorts and goldman sachs calling the action of calling the short, selling the long position to cover the losses, that is the biggest rotation in shifting they have seen in 10 years. stuart: they pitched battle. thank you. later today 10 republican senators who are behind the new $600 billion stimulus plan will meet with president biden in the white house. he wants 1.9 trillion and they want 600 billion, again the question is will we see any compromise, any unity. we will soon find out. new york city is under a state of emergency. we could see up to 2 feet of snow right hand side of your

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stuart: to our viewers in any state where the sun shines like florida, please do not gloat. the northeast is getting slammed by a major strokes-- snowstorm with a hundred million people in its path. what you see on the screen's times square on the right with a lot of snow. meteorologist janice dean is with us. the snow was coming down past, but i think it will get worse in new york city, is that? >> correct. this will be the most snow new york city has felt or seen in about five years since 2016 when we had 27.5 inches of snow in central park. don't think we will get that much, but we could get 20-inch is. the area of low pressure combat nor easter is strengthening offshore, not only the potential

for heavy snow but strong wind is unconcerned about blizzard conditions. that's why people are urged to stay off the roadways and stay inside if you can zero at plows do their job. current wind gust atlantic city 40 miles an hour, 29 new york. we could see some blizzard warnings later today. we could see the wind in excess of 30 miles an hour for several hours and then this will be with us throughout the day today into the overnight with a burst of snow tomorrow afternoon. that's quite incredible. a very long duration events for the northeast and there are winter storm warnings in effect for parts of not only in the northeast but parts of it new england and where we will get jackpot snow totals, new york already five or 6 inches on the ground. additional amounts of eight to 12 putting us close to 20 inches with philadelphia, a discrepancy there, reliable forecast models

and euro which is the european model, pretty widespread even in lancaster so we still aren't sure and we call this a now casting event so we are forecasting as it happens, but i will tell you someone will get 2 feet of snow and it could be close to new york city which is quite exceptional. back to you. stuart: i don't like the way you call it a jackpot snow storm. i think of other uses of the word jackpot, quite frankly. >> no money involved. stuart: you will be working 24 hours a day. thank you. still ahead today, art laffer, steve forbes, larry kudlow and micro, quite a show, second hour of "varney & co." is next. ♪♪

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♪. ♪ it's another manic monday ♪ stuart: not quite a manic monday, i don't think it is manic moment. not quite as manic as it was last week as you see from the market the in just a moment f you want to call it that, that is a manic snowstorm any way you slice it here in new york city. let's get right to the market

the dow cutting its gain from 250 to 100 points. still got green. nasdaq triple-digit gain. on the screens right now, much shorted stocks. look at gamestop, it is falling quite dramatically now, 16% lower. gamestop is at 270. koss down 35%. so some of these much shorted stocks are indeed falling very quickly this monday morning. got to tell you this, robin hood narrowed its list of restricted stocks from 50 to eight. gamestop is still on that restricted list, through robinhood, you can only buy one share of it. okay. still way down though. watch it, totally different subject. your taxes, you may have a problem if you're working remotely from another state. we got the full story coming up in my take. right now, let's have a look at the big show just ahead.

ed yardeni, james freeman. acorn ceo, loren kerner. in the 11:00 hour, mike rowe, larry kudlow, lara logan. we have the ism manufacturing indicator. ashley, what have we got? ashley: good morning, stu, 58.7. the expectations was 59.5. a little short of that. but anything above 50 is expanding, it is growing. that is the 8th straight month we've recorded that. in december if was 68.7. we're down to 58.7. slowing down of manufacturing, production if you like of the economy in january. stuart: no impact on overall market right there. we're still up but not that much as we were before. we are seeing plenty of volatility in those heavily-shorted stocks like

gamestop for example. that is coming down significantly. ed yardeni is with us this morning. all right, ed, sort through this please because our viewers want some advice here. what should they do in times like this? these are not day traders, they're not, not part of the retail reddit army. our viewers are investors, what should they do? >> i think old-fashioned investors really need to stick to the fundamentals. the fundamentals of the economy remains very strong as we saw in the purchasing managers index that you just mentioned. the corporations have come out of this pandemic. some of them have done extremely well. others cut their costs increased their productivity. i think earnings outlook is pretty good. i don't see a recession resulting from all of this mayhem that we've seen recently in some of these gamestoper stocks. but i think you know, sort of overdue for a bit of a

correction. i don't know that we'll have a complete 10% correction here. maybe not, because i think there is still an enormous amount of liquidity. i think one of the reasons that we've seen the volatility in these, some of these stocks is because people have gotten checks, not all of them are spending them at the stores. some are spending them in the stock market. stuart: our guests on the show so far this morning have said almost, unanimously, that this is winding down but it is definitely not over. what say you? >> right. well, i think it's, you know, it's definitely being driven by social media and you know, one of the consequences of social media is the notion of flashmobs. you get on a message board. you get text messages, emails, let's all meet here have a party or protest something. that is nature of the beast of social media and i think when

we're seeing is that social media entered the stock market, it is probably going to be with us for a while. we'll see how the regulators respond because the regulators aren't too happy when people sort of get together, let's drive this stock up or down just because. it is much better when the markets are driven by fundamentals than by social media outlets. stuart: one word from the regulators and that would change things quite dramatically. >> it could. it could. stuart: i think it could. ed, thanks for joining us. see you real soon. >> thank you. stuart: another big story this day is the possibility of unity and compromise when it comes to the covid relief package. president biden has invited 10 republican senators to a meeting in the white house today. this is about the covid relief package. art laffer is with us. all right, art, do you want the full $1.9 trillion package or do

you want more like the $600 billion package that the republicans want? which way do you see it going? which way should it go, do you think? >> i do not want the $1.9 trillion package at all. what i would like them to make sure that all the medical facilities have all the resources they need to keep covid-19 under control and to get rid of it as fast as possible, but beyond that i don't think we need any stimulus. i don't think this is stimulus. government doesn't create resources, stuart. it redistributes them. every dollar it takes from one person gets to someone else. that dollar doesn't last very long. they go into the coffers of some other group and you need to give them more. this thing is way beyond with it should be. we haven't even spent what the old stimulus package was worth and they i think they need to

tone it down a lot, art, i want to talk about gamestop forevariety of reasons. >> good. stuart: gamestop is down 14 or 15%. senator warren called out this friends sieve around the stock market. she says the stock market is rigged. she wants the sec to regulate it big time. basically, i think senator warren wants a piece of our stock market profits. what do you say to that? >> well i think that she's completely wrong on this but very predictable and to think that the sec is politically unbiased in any way, shape or form is not right. short sellers have a role to play in the market. a major role. the fact that they can lose everything is why they have -- because given that they can lose everything they need to make sure when they short a stock they're right and bring it back into the market rail. you know short selling, there is

no one more bullish than a short seller. they just go crazy. that is what you -- [inaudible] phenomenon. it happens every now and then t happened here. i think we should just watch it, let it go and not do anything about it whatsoever. i don't think this needs more regulation. stuart: okay, same question to our other guests, is the little guy going to end up getting hurt, holding the bag? >> well the little guy can get hurt holding the bag if the little guy -- i mean when a short seller sells the stock goes down and that is what the short seller wants for the stock to go down because they sold the stock short and they cover their short with much cheaper stock, that's true. that is what markets do all the time. small guys always can get hurt. that is you use a rule when you're a small guy, not do day trading, not to do it. that is not what a small guy should do. that is for the big guy that

knows markets and traders. pick a strategy, stay with it on fundamentals, as ed yardeni said. stay with fundamentals not trying to get in the game of picking winners and losers on short notice. that is it what short sellers get the wrong move, that is what happens with this gamestop. they got caught. i got caught once myself and it is really unpest -- unpleasant. stuart: art laffer, i know what you mean. >> by the way, congratulations on getting larry kudlow. that is a huge win for you. congratulations. stuart: it is. he is on the show in the 11:00 hour. thank you, art. we'll be seeing you and larry later on. >> my pleasure. stuart: i want to look at tesla. look at it, right now, up nine bucks, 1%, $800 a share. it is getting a boost from another source this morning. who is saying what?

susan: two factors, stu. headline crossing in the past hour. tesla is getting money from the german government. single-digit billion euros for battery production. tesla is building a gig goo factory in berlin, set to start production of cars later on this year. they're looking to build a dedicated battery production facility. hand out from the german government, billion dollars of state aid doled out from the european commission to build batteries that is bullish. piper sandler is joining bull lush calls that tesla is 1200-dollar stock in their view. that is their street forecast. the fireworks are not over yet despite the 700% rally. tesla is far ahead in this multitrillion dollar industry. stuart: susan, i want to take another look at gamestop. let me engage you here because i see gamestop down what, 15, 16%. susan: yeah. stuart: look at koss down 35%.

could it be, you know this market, could it be that some of the big funds have shorted these stocks all over again and are now winning because those stocks are going down big time s that possible? susan: great analysis, remember gamestop at its height and peak was $500 a piece in the premarket. that is right for a shorting opportunity. you did hear the fact that, had the clients in short positions in gamestop only drop by 8% from last week that means that people actually more short positions were put on because of a rise and lift in the rally. gamestop, amc, blackberry. these are stocks, part of the eight stocks that robinhood is putting limits on. you can only buy one share of gamestop, five options. restrictions, nokia, koss, express as well. this is ease up from friday afternoon heading into the selloff on friday when robinhood put restrictions on 50 stocks.

not just game stops and blackberries but less frenzied names like starbucks and beyond meats. that had people concerned where their cash positions were, whether or not they had enough money to pay up on some of these options trades. now robinhood as we know is being blamed for giving the edge to hedge fund class by giving them a cheaper way to exit their short positions by limiting the amount and type of trades that the average investor can buy into, but you robinhood east ceo over the weekend writing op-ed clearinghouses wanted 10 times more cash and collateral overnight with the record volumes in options trades. i'm wondering, stu, back to you, when it comes to the 10ability and future of zero commission trades. where they're getting money from and where they payment to especially order flow to the citadels of the world?

stuart: i'm not sure i see them going out of business. i think that kind of commission-free trade something here to stay, warts and all they say. you can't get rid of that. you can't just get rid of it. i don't see it happening, two widespread. should we change the subject to weather? look outside of your window, susan. snowstorm pounding the northeast. maybe 110 million people in the pathway of this storm. we're tracking it. got a live report for you. man, it is snowing hard in the city. president biden's envoy john kerry says coal miners would be better off if they switch the fields. >> look at consequences of black lung for miners, people condo those jobs the better of solar power is a better choice. stuart: is it that easy to switch jobs like that? i will ask mike roe.

he is on the show. our next guest goes inside the mind of the reddit traders. are they crusaders or they just want to make money? the answer after this. as we go to a break, look at it one more time. that is sixth avenue. you can barry see it. the whole of sixth avenue coming down with snow. you don't see that very often. we'll be right back. ♪ 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.

♪♪ ♪♪ ♪♪

♪. stuart: let's get straight to the game -- dow industrials come off the highs. nasdaq holding to a 100 point gain. more to the point look at gamestop, very important here because it is falling and falling fast. of the now it is down 20%. back to 260 on gamestop.

there are some restrictions own gamestop trading through robinhood for example. you can only buy one share of stock that maybe accounts for its loss this morning. if you can't buy its more than one share on robinhood you can expect the thing to go down. down it goes. however if you look across the spectrum of the market there are serious big-time movers. lauren what do you have for us. lauren: right. gato silver, they were actually halted by the new york stock exchange for volatility and they reopened up 40%. that is related to the gamestop, the reddit traders, right? this is the next commodity they're taking on. look at novavax. they nearly doubled in price these shares since thursday up another 22% today. their vaccine, near 90% efficacy rate in the a uk trial. on the flipside, moderna they're down pretty sharply. those shares were cut to underperform at bank of america securities but what is interesting is, you came to me

on gamestop being down. there is limits on that, but there is also limits on amc. yet they're moving in opposite directions today. we don't usually see that. amc up 12 while gamestop is down 20. stuart: i think as you said earlier, lauren, the reddit guys believe amc is the next gamestop. it is not going down like gamestop. it is going up like gamestop used to go up. i think that is what is happening now. as you said, lauren, gamestop, redditters, gamestop redditters as they are known bought a times square billboard. lauren, fill us in own this fast. lauren: you can see this on friday this mocks the hedge funds that have been humbled. pull up the billboard, the ticker for gme, gamestop, brr. the sound of money printing.

this reddit army are not backing down. they will buy up and prop up gamestop as long as they can. they're limited on doing that by planned robinhood. this will be a test on robinhood platform. handcuffs are put on the traders. do the traders stick with them or go elsewhere to take on the popular hedge fund stocks. stuart: looks to me that they're going elsewhere, game stop is down 21, 22%. lauren: yeah. stuart: lauren, thank you very much. robinhood limiting restrictions toe eight companies. now it is eight to 50 companies and now to eight. robin knows the mind set of the robinhood reddit crowd. get in the mind of this crowd, robin. are they crusaders fighting big guys, is that what it is about? >> of course some of these people are trying to make money,

the original person who started this, warren kitty, dsd on reddit, $50,000, holding 40 million so far. as far as back as last year saying that gamestop is a good stoke. he likes the stock. there is real value there. it is worth really investing in. and so there are people that on this reddit and throughout the internet, they're trying to use it to make money. however the overwhelmingly large portion of this is to stick it to the hedge funds. it is to stick it to these banks. a lot of people on reddit grew up during the 2009 financial crisis. they saw their parents lose their homes. they saw their parents lose their jobs. they saw the economy collapse. they saw the banks get bailed out. they saw hedge funds continue to roll over the normal people in this country. and now they found a way, more than occupy wall street was ever able to do, to really stick it to the people who have been in charge, who control the money and who have been trying to manipulate the market for big

banks and for the big money. they found a way to try to get it to them to have it for the little guy. for people on reddit, subreddit, gamers on the internet this is a way to really stick it to the hedge fund. this is a way to get back at them. that is why they're in it for the long haul. they're in it to hold no matter what happens. stuart: well, they're going to lose their shirts. look, gamestop right now is down 26%, $85. you're back to 239. somebody bought gamestop at 400, 450, $500, 350 and now down to 244. are the little guys prepared, because they're in a crusade against the big guys, are they prepared to lose their shirts in this battle? >> yes, they are. dfe, the person i mentioned who started all this he was down $15 million last week when robinhood on thursday initiated the stops so you can't buy all the market shares.

by the way robinhood deserves a lot of blame for all this. there are other brokers involved with this. vlad was talking with elon musk last night. he has been a pr nightmare for the company. robinhood really screwed over its customers. it screwed over the people. it has not had the capital to be able to continue on, to restrict it only one share buying on friday and today is ridiculous. they bare a lot of the responsibility for why the stock went down on thursday. that continued on to its pace. there are other reasons here. robinhood not having capital, having to raise $3 billion in the last few days that is on them. for a lot of people, it looks like they're trying to help out hedge funds. they're requiring to help out their investors. they're trying to get out of all the problems they caused. people are going to be sticking in this for the long haul, yes. stuart: okay. but any hedge fund gone short on fame stop will be in the money, that is the way it is. the little guy is out of the

money. sorry i'm out of time, rob. that was good insight into the mind there. appreciate it very much. >> thank you. stuart: i will change the subject to something very important for a lot of people and that is reopening the schools. you have no idea how many parents have got in touch with me saying got to reopen the schools. let me take you to chicago, the mayor of chicago, lori lightfoot issued a new warning to teachers. just watch this. >> those who do not report to work and i hate to even go there but we're going to have to take action. stuart: look, the mayor wants the teachers in chicago back in the classroom. they're saying we're not going back because it is not safe. by the way we want the vaccine first. we'll deal with that in just a moment. what a story. if you're getting ready to do your taxes, watch out, there could be a big problem if you're working remotely from another state. full details after this. i got a "my take" on that.

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♪. stuart: here's the news. gamestop just halted. it was down, it is still down.

still down can't trade it down 40%. it is all the way down to $213 a share. got to keep an eye on this thing because it is a very important stock these days. now this. >> tens of millions of people spent the pandemic lockdown working from home. many people spent 2020 in states with very low taxes. now they want to pay the low taxes. if you spent 2020 in florida, where there is no state income tax, you don't want to pay the super high tax of say, new york city. no surprise, high-taxed states are crying foul. they want their money, even though the taxpayer didn't work there, probably didn't live there. massachusetts got the ball rolling. insisting that if you worked in massachusetts before the pandemic, you have to pay massachusetts taxes regardless of where you actually spent the pandemic. obviously a major tax battle has

begun. it may go to the supreme court because new hampshire, which took in a lot of people from massachusetts, which has no state income tax, does not approve of what amounts to, they say, a tax grab. the familiar battle lines are drawn. high-taxed states like new york, new jersey, illinois, california, massachusetts, they are desperate for tax money. they enforced the most severe lockdowns which produced the worst economic effects. you can understand that they're desperate. i got it. but you can also understand the taxpayer who doesn't want to pay for the services he or she no longer uses. and doesn't want to be dragged back to the onerous tax rates they thought they were escaping. at the moment, "wall street journal" says, it is a bit like the "hotel california," once you're in you can never leave. if the supreme court reverses that, the work from home trend gets a big boost and so does the tax exodus. good stuff.

"wall street journal" guy james freeman joins us now. you think, you think, if the supreme court does get rule on this, which way do you think it is going to go? >> i think it would have to side with new hampshire say, if someone is not working in a state, they can't be taxed there. there is a long-standing tradition, as you described, stu, people if they work in one state, but live in another, that state where they work gets to tax their income. the premise is that you're working in the jurisdiction, you're driving on local roads. you're using services in that jurisdiction. you ought to pay taxes. to say, new york, you can reach outside of borders, to pockets of people coming inside of the your borders, not using your roads, not using your services would be outrageous and dramatic change from current law. so this is a big issue with big stakes.

this is exactly the kind of issue you the supreme court ought to be ruling on. i would expect they would say yes to new hampshire. stuart: if they do, they say you paid taxes in the state where you live and work, during the pandemic, for example, that is a revolution. i mean that, it is not a revolution from the constitution. i mean constitution supports that point of view but it would mean an enormous movement of money out of the big cities and out of the big taxed states. it is not going back. i mean that is a very big trend? >> well it is so important to ultimately reform those places. stuart, as you correctly pointed out, what we're seeing here is basically certain governments that want to force people who fled their bad policies from paying for those bad policies. they want to prevent accountability. this is the wonderful thing about federalism amid a horrible situation like this.

it does allow us to have competition and what we've seen is that, people in those lock down states realize they can't do business there, can't thrive there. they're going to where there's freedom. this is a healthy process which ultimately, if this policy is not allowed to go through, will help new york reform because it will create the incentive to reform. i think a lot of people are asking, you know, is it a coincidence this year that woe now have the top five unemployment rates in states run by democrat governors. we have the lowest unemployment rates in states run by republican governors? the parties have basically chosen different policies to respond to the lock down. people have responded and, i think we need to listen to that response and see what it tells us about reform in places like new york. instead of trying to reach into the pockets of people who no longer work there.

stuart: well-said, james freeman. with you 100%. james, thanks for joining us. we'll see you again soon. now this, president biden's new pick to run the employment security department raising some concerns. what's the problem, ashley? ashley: well her name is suzie levine. she led washington state's unemployment program is, has been at the center after fraud scandal that cost the state more than $600 million. that fraud is believed to be linked to a nigerian group that uses stolen identities. at least 122,000 fraudulent claims were may have had and devine was criticized by the state auditor for delaying the sharing of the fraud details but despite that scandal, devine has reportedly been picked by president biden to be assistant secretary within the labor department, working for the federal agency that actually helps states process unemployment claims. so questions are being raised.

stu? stuart: they are indeed. ash, all right. mayor of chicago, lori lightfoot has a message for teachers who are refusing to return to school. what is she saying, lauren? lauren: she is saying come back to the classroom today or face disciplinary action. listen. >> we expect all of our teachers who have not received a specific accommodation to come to school tomorrow. those who do not report to work, and i hate to even go there, but we're going to have to take action. lauren: consequences. now students in k through 8 in chicago, this is the nation's third largest school district, they're expected back in the classroom tomorrow. so teachers today, kids tomorrow. for the first time since march of 2020. but the teachers union, they say no, no. we want more coronavirus precautions in the classroom and

we want priority in getting vaccinated. they could strike. why is that a big deal? because if the school board, if they don't show up for instance, and the school board says we'll lock you out of the systems, that means remote learning is turned off also. there will be no education at all in chicago's public school system. stuart: you know, i got to use the word pathetic quite frankly because if you're not prepared to go in front of 20 or 30 kids wearing masks what are you doing insisting that grocery store workers go to work and face two or 300 people going through? good lord. fit to be tied. lauren: private and catholic schools are open. just saying. the private schools in chicago are open. stuart: yes, they are. stunning really. again, got to show me gamestop please. i know it has resumed trading. you no it is down 28%. it was halted when it was down about 34%.

they start trading again. it is down a little less but still down at 239. as for the price of bitcoin, i believe it's down even though elon musk has been talking about it. we'll tell you what's going on with musk and bitcoin. plus a major winter storm pounding the northeast. that is the true word to use. 100 million people in its path. we got a live report. you could see two feet of snow in new york city. as we go to break, why don't you look at sixth avenue again. you can barely see it. it is snowing so hard that is the view from our studio, it is snowing so hard you can't even see the street. what a day. we'll be back. ♪.

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♪ stuart: there is still plenty of

green for the overall markets. dow is up. look at nasdaq up 170. i can tell you big tech is doing very well. ah, but look at gamestop. it was halted for trading when it was down 34%. it reopened. it is still down 24%. there is a lot of action in gamestop today. how about amc? it was sharply higher. where is it now? it is up 5%. tell me more, lauren. lauren: exactly. it was up over 20% earlier still positive while gamestop is down. people said oh last week, these stocks doubled, tripled, that's the case. amc was up 200% last week. the gains continue but not as much as earlier. i want to show you microsoft, stuart. this is the top performer on the dow jones industrial average. it is only up, only up 2.25% but it is adding 30 points to the dow's gain today. stuart: it recouped almost all of friday's loss.

nice bounce for microsoft. yes, i do earn a thin sliver of. let's get to the weather, specifically the snowstorm absolutely ishing the northeast. let's go to asia hasnnie. reporter: big pieces of now coming down non-top. this is times square. the times square alliance workers doing their job, god bless them. they're trying to get the place keened up as possible. make it as sound as possible. new york city is under a state of emergency. nobody should be out only essential workers right now. we're bracing for 18 to 24-inches of snow when all of this is said and done.

last time we had a storm this big back in 2016. i want to update you on a couple things announced a few moments ago announced by mayor bill de blasio. today all in-person schools have been canceled as have for tomorrow. tomorrow's school canceled as well. outdoor dining has been canceled. by far the biggest blow, though, stuart, is the covid vaccine appointments at 20 city-run sites and clinics, they're canceled today. announced moments ago, they're canceled tomorrow. they will be rescheduled for later dates. here is the mayor explaining why. >> last thing we want to do is our urge seniors to come out in middle of a storm like this. doesn't make sense. we're rescheduling appointments for vaccines. they will be post importanted. reporter: tuesday is canceled as well. we're not sure what will happen with wednesday. we'll have to wait and see. this is still going to keep coming down all flu today,

tonight, into tomorrow. again you can see more than two feet of snow. not, it is dangerous to be out right now but it is gorgeous to watch especially when you're in times square. the whole place is lit up. kind of beautiful, stuart. stuart: gorgeous to watch, thank you very much indeed for going out there doing our job for us. we appreciate that we may get back to you shortly, if we can still see you. reporter: you bet. stuart: another big story. you call this the battle of the titans. it's a battle over the internet. this is tim cook versus zuckerberg. tell me more, susan. susan: tim cook saying that apps and he didn't say facebook but criticized the ones that let too much personal information and prioritize conspiracy theories and violence, incitement simply because of their high rates of engagement. reports suggest that facebook might be suing apple over these new privacy changes in the

latest iphone operating system update, now will ask users for permission to allow apps like facebook to track where you go on internet. facebook and other social media companies like snap use that information for targeted ads. facebook might be suing apple what they call abuse of power over its app store, accusing apple enforcing rules that other apps don't have to follow. mark zuckerberg very clear, on the earning call, calling apple a fierce competitor. these changes will impact advertising sales at facebook in the future. no love lost between these two. stuart: okay, thanks, susan. the white house says it is looking into gamestop trading. what can you do? i have will ask former national economic council director larry kudlow. he is with us these days. he is on the show shortly. again, i'm sorry to do this to you, folks, all the viewers in florida, please don't gloat. some of you used to work right

there on sixth avenue in new york city. you can barely see it now. even sixth avenue covered in snow. amazing. we'll be back.

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♪. stuart: holding the gain for the major averages. dow is up 100, s&p up 30, nasdaq big gain there, one an 1/3%, 171 points higher. gamestop all over the place, way down at this moment, down 27%. you know the shorts, who are betting it goes down, it is very hard to beat the shorts in gamestop at this moment because restrictions are in place for how many gamestop shares you can buy through robinhood. that is perhaps extending the loss. now what we've got here is robinhood narrowing the list of stocks which have restricted trading from 50 last week to eight today. gamestop is still on that list. limited buying of gamestop through robinhood. hence it goes down some more.

retail investors seem to be looking for more ways to get into this market including an app called acorns, right? it encourages people to invest their spare change for the long term. got it? noah kerner is the ceo of acorns joins us now. i believe, noah, you've seen a large number of retail investors coming to your app, doubled the number last couple days, something like that? >> yeah. we're nine million accounts from tuesday to wednesday and doubled, wednesday to thursday we doubled. the thing to know about acorn, you cannot trade on acorn. i asked a question why short a stock if you can invest in the entire american economy which is what acorn helps you do. we invest your money diversified portfolios in thousands of stocks and bonds automatically for you. stuart: let's get that real clear. you don't go to acorn to trade on a daily base is. you don't trade gamestop, all the rest of them. you come to acorn to spare

change, small amounts of money into your pre-selected portfolios, have i got that right? >> you got it exactly right. the thinking go long on america, invest in america. invest in your future. do it across the entire american economy and diversified portfolios, do it over amount of time to invest for yourself and your family. stuart: do you think the other guys, the guys who are day trading on the other platforms, will they lose their shirts eventually? >> i think about it like this, if you talk to your money manager, right, you say i'm going to buy this stock or this option or do this exotic it set, the money manager will say to you every time, that's fine, but do it with less than 10% of the money. with the rest, 90% of money, put it long term, go long. diversify, invest in etfs that is it what we help you do. that is how you think about your money. okay to make risky, short-term

bets but thinking about your life, future and your family go long. stuart: how do you make money. >> we charge a simple subscription price. either one dollar a month, $3 a month or five dollars a month. it is totally transparent and it is clear. we believe if you're not charging a price the customer is the product. stuart: i pony up say my five bucks a month that gives me a free choice which portfolio within acorns that i want to invest in? there is no further charge? i don't pay to get into that particular fund? just one, two, three, five, 10 bucks a month, that's it, right? >> that's right. that's right. for five bucks a month you get an investment account with diversified portfolio. invest the spare change. you get an retirement account. get investment account for your kids. you get a full bank account that help you save and invest more when you spend. everything at acorn comes back to help you save and invest in the long term. stuart: got it.

no wonder you're doing well. appreciate you being with us, noah. come back to see us again, if you double the number of investors all over again. we love to hear it. noah kerner, acorns guy. still to come, mike rowe, steve forbes, lara logan coming in the next hour. tell but the new wall street wish-list just ahead. again, looking now, please at, that was the capitol building. that's fox square right outside of our studios. nobody there but a lot of snow. we'll be back. ♪. research shows that people remember commercials with exciting stunts. so to help you remember that liberty mutual customizes your home insurance, here's something you shouldn't try at home. insurance is cool. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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>> this game is a long way from over. your little guy if he doesn't lose certainly going to have some claw marks on his back. >> it is winding down but far from being over longer it last more probable we have that government will intervene and do something to unsettling. little guy whaled prevail if they learn first of all, the game has been rigged against them from the beginning. whanch we're seeing a social media entered the stock market probably be with us and see how the regulators respond. ♪ ♪

>> all right, yeah. it's 11:00 on the east coast and a very, very snowy day this is monday february the 1st. we're told that the snow which you're looking at now right outside if fox studios will only get worse. we'll update that in just a couple of minutes. check out the markets, we've lost much of the gain for the dow industrials. we have been up over 200 but we're held on to the gain on the nasdaq which is still up well over 130 points. look at the heavily shorted stocks different picture today. gamestop is down 27%. cost down 39%. so we're not seeing quite the gamestop that was halted now it is back trading again. we're going keep you up to speed on this vol tellty folks left-hand side side of the screen that's what happening right now. throughout the rest of the show -- and now to this. ♪ ♪

the big story is still gamestop and the short squeeze. state of play here it is gamestop is down. the other short squeeze stocks are volatile. perhaps not quite as volatile last week but we're already seeing some big time price movements just in the last few minutes. robinhood restringted trading in eight stocks. it only allows purchase of one gamestop stock through robinhood. that appeared to calm volatility at least for now but i tell you that is begin to pick up again. it may have calmed the contagion early in the trading session, that is the spillover effect from investors selling assets to make good the losses in the short squeeze. but right now we see the dow only with a gain of what, 50 odd points that's all we've got for the dow. the s&p has narrowed its gain to just 22 points. but we're still seeing solid move up for the nasdaq better than 1 pblght gain as we speak

what happened is% up. now look at silver. spiking close to 30 dollars and now 28.65 almost 29.90 in last hour this precious metal is now part of short squeeze action. there is political action this morning. president biden meets ten republican senators at the white house. the republicans have their own scaled down covid rescue plan worth what, $600 billion. way below president demand for 1.9 trillion. i'll call this a test of unity, and compromise which i think is highly unlikely when the republican plan call for smaller check and less help for the schools. bernie sanders on the left will have none of that. the third hour of "varney & company" continues.

well there he is man himself former economic counsel director larry kudlow great friend of the femme and twok the fox family larry kudlow. >> appreciate it very much. great opportunity very exciting for me. neil: incompetent say what took you so long but i know. let's get straight at it shall we in the white house will look into gamestop, buying and selling craze around gamestop. do you think the government should intervene? >> i do not. i absolutely do not. i don't -- i don't mind looking into it whatever that means. but i don't really see what the issues are. i don't to see more federal government regulations of these markets. , ii mean, it just seems to me m the whole story from beginning to now i guess the issue is a lot of people are angry at

robinhood for ending or stopping trading in a lot of these penny stock or limiting. but you know, hard to blame robinhood, they have capital calls to worry about the volume and price increases were so large. this is not about selling. this is about buying. and clear has this demanded that robinhood put up more good collateral i think $3 billion so they have to stop because they couldn't clear or settle whether it is one day settlement or three day sledge now that's not so unusual. you get some volatility in front run other are doing it and have done it in the past so i'm not sure what the issue is as you know very well they needed more capital put in a billion. others may have put in money. to help robinhood. robinhood i think acted to me like if there are issues here let the exchange it is deal request the issues. okay let the private exchanges

deal with the issues. i don't the federal government mucking around with a lot of crazy class warfare. by the way, stu consider this, i'll ask you this question. is it possible that the stimulus checks have been used to invest in penny stocks? a lot of rumors about that. i've heard it from my pals on wall street that is not what was attended, i mean, it is a free country you want to buy a penny stock do you do we want really more stimulus to go into more penny stocks. i have my guess but i'm not sure qhat problem is here. it may be, it may be -- a solution in search of the problem as far as the government goes. >> it could be a new factor which is the organized retail investor with a phone and access to social media. organizing coordinating and attack if you like on maybe the promotion of something. that this may be a new factor in

the market. i don't think it is going away larry. >> well look, you know, i welcome more and more people owning shares. i mean, personally stu, i'm a believer in buying the indexes. and holding them forever, okay that's my view. a lot of people disagree with that. but the investor class can grow it is about 50% of americans over 100 million people own stocks. if you've got millennials and others coming in for the first time, i say fine. i have my doubts about this organized business i just have my doubts about that maybe i'm wrong. i don't mind social media, i mean, my problem with the social media is censoring conservative opinions. that's my problem. and i think there has to be some federal changes there. particularly the -- liability shield 230 on fcc act but putting that all aside different topic so fine more

people come into the market. by the way, you learn from the school of hard knocks, prices go up. and they go down. >> yeah. university of hard knocks we go through it at some point that's a fact. back to this sir, 1.9 trillion stimulus and 600 billion stimulus i suspect the market would love 1.9 trillion all of that money flowing into the economy. but i don't think you like it at all would you have any stimulus of any kind? >> i wouldn't like it. i don't like it at all. i don't know by the way if the market loves this stuff. i think that -- you had the 900 billion dollar package in late december. okay? which gave assistance to unemployment which i favored. gave assistance to small businesses the ppp which i favored. and gave assistance to schools and, you know, health and security and vaccines. and that i remember which is i

favor so targeted assistance sounds very good to me. the democratic package is neither targeted nor real assistance. i mean you've got things like federal minimum wage which is crazy and hurt the poorest and it would hurt african-americans and other minority groups that makes no sense whatsoever. do you need a new package now? i don't know. remember this mac koa economic terms, as a supply cider i would say this. number one, more and more government spending is attacks on the economy. an those taxes may reappear before the end of this year afterall, president biden campaigned on, you know, taxing rich people, taxing corporations, taxing businesses, that is not healthy for the economy or stocks or capital formation or investors secondly more spending needs more regulation. seeing outburst by the new administration, i think those

are going to damage growth and hurt the whole business climate. so i would say that wall street folks that are so-called investor folks -- i'm not so sure you really want you may think you want it but may not when you see fine print and ultimate consequences of higher taxes and regulations. this economy stu is in pretty good shape. let's go there. right everyone tells me there's an economic crisis there's not an economic crisis. what there is -- >> guess what larry -- a lockdown in california, and in new york. >> the rest of the economy baskly basically is a v-ship recovery. it is your show. >> not in the white house and back in hard break where is we have to go to commercial so i have to cut you off i can't believe i'm culting off larry kudlow and we're going to love you on this network i know it. welcome back good to see you man. >> my great pleasure.

>> good. now look who is here. steve forbes -- come on in steve. you heard what larry kudlow had to say about these -- covid relief package. i think you're probably in full agreement with larry. you don't want 1.9 trillion dollars. did you? >> no. and fact of the matter is where do those resources dprom? they come from resources that have been already made by private sector or money out of thin air that leads ultimately to inflation that's bad for the economy and bad for stocks. so they could do the 600 billion that's very, very generous ups checks they're upping a lot of other things, aid to small businesses and the like. but there's a lot of stuff in that 1.9 trillion including bailing out badly mismanage states like new york, new jersey, illinois, and california. states that are prosperous have done well have to subsidize states that have mucked things up. that's not right. that's not good for the economy either. >> i see heavily shorted stocks,

they're down very, very sharply again we're back to this i'm looking at gamestop down 20 odd poses it is down 40%. do you think that this means the little guy is left holding the bag on this? >> well, the short sellers were left holding bag last week big time which was why they had to get to outside capitalist to stay in business and that outside capital i guarantee on wall street is about as nice as a lone shark they're severe conditions so they're going pay a price too and clients are but as for individual investors, they are used to be a seeing don't go to sky and now trees don't grow to moon and outside of any rationality what comes up comes crashing down and amazing, every generation has to learn that. these things don't go in one direction so easy especially trade where you press a button you can buy go on margin go into

debt buy more and more shares it is a gety thing but may be coming sooner than anticipated you end up holding an empty bag. >> the university of hard knocks we've all been there. steve forbes thank you very much for joining us hope to see you again. thank you, sir. >> look forward to it thank you, stu. man do we have a big show coming up for you. a lotlogan will be here behind f the biggest threats to our border. to the border -- china. that's interesting. and remember what john kerry said about coal miners you have to see this again. roll it. >> you look at the consequences of black for a minor same people can do those jobs but choice of doing solar power one now is a better choice. >> job start mike rowe has a lot to say about that and he joins me, next.

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stuart: watch out that know is still coming down and then we have climate onboard john kerry telling oil makers go make sol solar panels they lose their jobs under president biden's clean energy green new deal policies. that man right there, he's got a thring to say about this. he's mike rowe, mike, look you know people who work with their hands. you know people who work outdoors get dirty. you do a show about it.

do you think those workers can switch just like that? to make solar panels or something or program code? >> not just like that. but the most successful people i know in that particular world are people who have not only mastered a skill but who have embraced the willingness to go to where the work is. and i don't say that to make excuses for john kerry i think what he said is kind of simplistic if i were in charge of his pr and messaging i would well -- probably have a talk with that person. but the truth is, you would use this expression now twice in the show so far the university of hard knocks, that applies everywhere today. and it's unfortunate but a lot of people over the last ten months have had to adapt or die. we've all had to pivot and virtually every industry. so from a foundation stand point, the thing that i tried to pox on for the last 13 years is

making sure people have a skill that's in demand and a willingness and ability to go to where the work is. i don't say that so sound glib or dismissive of what's happening in this industry because truth is stuart the thing that we miss all the time when we talk about this government official said that now these work reverse out of a job. it makes it a binary conversation. and the conversation i think we ought to be having involves the degree to which 330 million americans are truly reliant on petroleum products and fossil fuels not just at the pump it is not just oil and natural gas or clean versus dirty. it is the yoga pants right, it is the palace tech on keyboard that allows people to type their angry letters to me from time to time. [laughter] energy can't be e the enemy. and poses fossil fuels is one of

the leading investors in alternate fuel so we can't separate two sides of the same coin. and expect to come out on other side. he called it a -- a false narrative, well there are a lot of people in the country who also believe that the end of days in 12 years, is another false narrative. so there are a lot of narratives being flown around, and in the end, keystone you know 11,000 guys out of a job. happily most of them are skilled ought to be able to find work elsewhere. because even if our government turns its back on fossil fuels the country can't no matter what we can't do it. stuart: mike, you're very much a thinking guy. you've got original analysis. so why was your show returning the favor, a very successful show as i understand, why was it canceled on facebook? i also think of you as a fairly conservative guy. politics intrude here?

>> obviously, i can't speak for facebook. i have a great relationship with them. they gave me a platform there are 6 million people on it and they've allowed me to raise millions of dollars for my foundation, in fact, they've contradicted to it full disclosure i don't think they canceled me but my show i got fired i've been fired before. i'll be fine. but i understand why in this climate a lot of fans that have show think something is awry. i talk a lot on facebook and on shows like yours about work ethic. my foundation award work ethic scholarships i talk a lot about delayed gratification and attitude, and personal responsibility. and i don't know when it happened stuart but those words have become politicized. when you use those words you start to sound like middle aged successful white guy. screaming from his porch for the kids to get off the lawn. so when people look at that

dynamic of me, and they see a show like this, and emmy award-winning show at the height of its popularity with a really engaged viewer base, they think something awry happened personally -- i don't think so. i think my show got canceled. not me. >> well a shame. but you do have a new show i believe it is called what is it, six degrees with mike rowe, tell me 30 seconds what's it about? >> it is a history show for people who wouldn't watch history shows, every episode starts with a truly ridiculous question like can a horseshoe help you find your soul mate the toons that question is always yean i get one hour to explain it with a little help from animation, puppets recreations, wigs that don't quite fit old costumes, and my old buddy chuck a terrific actor i went to high school with who assumes identity of no less than 35. historical figures it is a ramp, it is fun, and it will make you care about stuff you didn't know you cared about.

stuart: i will watch mike rowe you're an original thinking guy about best voice in radio or television. you really are -- and i wish -- >> make me blush. make me blush stuart i scarsly know what to say but, thank you very much. stuart: you're welcome. you're welcome see you later mike rowe, last time i ever attempt to intimidate american accent you'll never hear that again democrats they want to pass a new transaction tax on all stock trade. oh. edward lawrence is in d.c. with this, what does it mean for investors edward? >> money, money, money to pox on reddit army trade again stocks have caught the eye of some democrats now in washington not for the actual debate over the situation, but for the volume of trade. so democrats want to tax eep of those trade amid on wall street for example, the average of had been 51 gamestop shares bought or sold over past 65 days that bros away the moving average of

about 26 million shares, now those numbers could bring in a lot of money if you attack each of the trades and that's exactly what representative elin omar suggested. she was a .1% tax on every trade her argument would be that the reduce the high frequency of trading that practice she says drains profits and will help the lings guy. then she used the money that you get to cancel all student debt. the problem is, the cbo says a tax would raise 770,000 over ten years and that costs or it would cost 1.7 trillion to cancel student debt according to the st. louis federal reserve. so the other problem, it is not just the rich wall street types who were investing in the stock market. so stu in our research my producer found this idea believe it or not is actually already in place in new york. which includes new york city a new york state stock transfer tax in place that is is the 05

on every transaction in new york. which is basically all stocks that are bought. now essentially it is dormant, though, because total tax is refunded state lawmakers recently have started to talk about well, maybe we should change that rebate policy along with that as we know now representative elon omar back to you, stu. >> any excuse to tax people that's it moves tax a thing you've got that all right edward thank you very much indeed. congressman a congressman i should say test positive for the virus after receiving his second dose of the vaccine. what is up with that? i certainly asked doc siegel coming up shortly. logan with a show about the danger at the border, she's back and she's going to tell us about this. dynamite stuff.

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♪♪ ♪♪ ♪♪

♪ ♪ found the cartels more aggressive by the day. what jason jones and others called escalating national security nightmare.

and with military grade weapons, a war chest in the billions and unconstrained by rules of war. they're not stopping at the border. how come they did nothing for years. for decades or this could have been stop sod long ago. stuart: good lord. that was a clip from laura logan season of new show laura logan has no agenda return to border. yes it is on fox nation. laura logan is with us now you went back to border what did you see? >> well, you know really what we found stuart is that the cartels in mexico have become a parallel federal government. and the government of mexico takes orders from them in control of both sides of the border this idea that whatever is happening in mexico is somehow removed from us is just nonsense for example cartel new generation according to the de

arks has thousands of people living inside the u.s., and operating for them here. that's one cartel. so that's an indication for you of how entrench here they are in the u.s. already and this is all happening at exactly the same moment that the new administration is opening up the border which only make it is easier for cartel not only do they make more money out of the peel crossing. but it is also great cover for them which they exploit very -- very well. where they move more and more and more drugs, and most people in this country think they know, you know, what drugs are, and they've made their minds up about that but may not realize deadliest street drug in history it have this country and, in fact, of the world is fentanyl and it is not only is it being mixed in with cocaine meth other drugs think i'm not using that's

oaks but meth overdoses are up 35% because fentanyl is mixed into it also importantly ownership i prescription drugs plummeted availability, and we -- we didn't talk about the fact that inspite of that addiction rates didn't go down. well that's because the cartels with the help of their partners the chinese, filled the void and they've been making counterfeit pills fake pills those pills are killing people, americans in record numbers. so it's only gong to get worse more than 81,000 already for the last fiscal year already dead from overdoses. >> okay so that's the chinese connection that you talked about they create, they make the fentanyl and they bring it to us through our southern border. and you say it is only going to get worse. >> in part stuart -- in part there's -- there's something that's really

significant understand about what the chinese did. they introduced fentanyl as a street drug in america and initially it was mail order drug so powerful and small you can mail it and 1.4 million shipments day arriving in this country from china. so you can imagine how hard that was to find and then china banned it and under pressure from trump administration but that was really something for the political stage. because they were already giving the precursor chemical to mexicans in such enormous quantities not only seeing deadliest drug ever made in mexico now but you're also seeing brought into this country on level it is that no one here is ever experienced before. stuart: laura, you've got a story right there. we want to see it -- we'll be watching laura logan has no agenda exclusively available on fox nation. and you've got an upcoming show as well, another fox nation special, laura logan investigates mexican mormon

massacre air first time sunday 10 p.m. on fox news channel. laura thank you so much. we want to see a lot more of you. come back soon. now, let's get back to money, i see that dow is up close to 200 points now to big gain for the nasdaq as well look at that. up 1.8%, 137 points on the nasdaq going to be some big movers suzanne who are they? >> discover downgrade those that go back to reddit trading and downgrading bed bath and underway to 24 dollars they say that's what it is worth they call it distorted no kidding with short squeeze last weekend and lose a nesting trend soon and see apparently only worth a dollar that's 94% down from these levels but amc most traded stock today and recent volatility to spike in the company stock due to reddit crowd they say now decoupled amc share from real evaluation. also not just small companies

being short looks like viacom one of the shortest stock on the s&p 500 citi group downgrading viacom to neutral today down the price and morgan stanley you talked about this earlier that virgin galactic with 30 dollars has been a short squeeze doubles past month up today because there's a new test flight and possibly two week time after aboarded in december and moderna worth 150 according to bank of america, and here's an upgrade something for you to take notice of nikola getting upgrade from web bush to neutral 25 dollars and they say this stock could significantly benefit some of the biden go green policies. >> an interesting list you have there suzanne good stuff. next case, reddit traders focusing on -- silver so come on in laura. i see up what 7% at the moment did he get, hit 30 buck an ounce? >> it did. it did it passed 30 for the

first time since 2013 and with this, it is taking the miners with it. so some of them up 40 plus% today. reddit traders are trying to do for silver what they did for gamestop but this is a different attack because the hedge funds are typically long silver so not shorting silver trade but i think a lot of reddit traders see a way to punish the big banks. like jpmorgan because they hold a lot of silver but they also paid fines in past for allegedly deceiving the precious metal market so that's some of what is going on here. this is not straightforward as gamestop trade as you will. bigger market to take down. >> we should take look at big tech as well because they're doing extremely well at this moment so -- groups of stocks are too. lauren thanks very much fin deed i'm going to put on your screen people tried to dig out jersey city, as of right now, you've got a huge winter storm that's going --

that's just the progress so far. you could get two feet of snow in parts of the northeast. ouch. janice dean tracking all for us she joins us in a couple of minutes. and the new south african strain of the virus has arrived in america will it slow down the reopening process? good question to ask, dr. siegel, he's next.

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stuart: on screens ford and google putting them together they signed a six-year deal for in car connective connectivity and cloud services. cars of the future are just -- computers on wheels i think. and then there's this. a new south african strain at the virus has been detected in america.

dr. siegel is with us all right doctor we're told this strain doesn't respond well or -- can beat vaccines, vaccines don't work well with it. we're told that it is very strongly transmittible, so put it altogether, and does this mean that it is going to affect our state that want to reopen in america? >> well those are really important questions stuart, first of all it does work against the south african variant both moderna and pfizer have been tested against it and pfizer showed they made antibodies to it. the problem is it works a bit less. the johnson and johnson vaccine which i predict is going to be approved in about a week or two works even less maybe 50, moderna pfizer 70%. it works. it works enough to really protect you. the problem we're seeing with it is it can cause reinfection if you've already had covid-19 so we have to get vaccine out in a hurry i'll tell you a bit of

biotechnology you're going love moderna is creating booster shot if needed that covers this strain almost 100%. you know what, these vaccine technology they can make that in a couple of weeks. just a couple of weeks, old vaccine it is that used to take months and months so we're gearing up to protect against this. the key is going to be gettings a mass vaccination where ab million and a half people a day we need to continue on that pace if we can. we're going stamp this down stuart the more virus around the more these mutations occur more these variant os cur that's why we needed vaccine in place so fast. stuart: i'm sure you've seen this news congressman steven lynch tested positive for the virus after he had received both doses of pfizer's vaccine. is this just something extremely isolated or is it something we really ought to worry about? >> i think it is different. i don't think it is that he got covid-19. most likely, since he's 65 years

old he's probably just carrying the virus in his nose because of a contact with a staffer who had tested positive. that's what we're looking into right now. stuart, the studies, if you contact it, if you get it in your nose don't get sick, can you still spread it? my bet is on fact that he's much less likely to spread it than if he hadn't had the vaccine i think this vaccine not only protects congressman lynch but those around him who come in contact with him. enormously successful vaccine i don't believe he has covid-19. >> okay. stuart: if you watch the nightly news doctor i do occasionally you think the world is coming to an end and all should be scared to dakota i think it is a scare story i know you would like to respond to that one you will soon. we'll see you later doc siegel. >> good to see you sir. stuart: this is a developing story really astounding nine of new york top health officials

nine of them have quit in the past year. are they blaming governor cuomo lauren is he getting some bad press? lauren: according to "the new york times," yes. they're upset with the way governor cuomo has tweeted on friday remember he said i don't trust experts and then he overruled their guidance and several instances specifically with the vaccination rollout he wants to use large hospital systems, and then he scripted on few occasions according to times pandemic policies then asked to health team the experts to match their health guidance to his policies. that we're just announced, and in short they feel that govan cuomo has ceased control of the state's pandemic response. gliewt my goodness that is indeed bad press and he's not used to getting that media just all over it thing may change there. lauren thank you very much. now we have fire joining

covid-19 effort. what are they doing ashley? >> agreed to produce cure experimental vaccine but if the big issue will be available for delivery until at least the end of the year. all about what's going on in europe. eu governments have been scrambling for more vaccine supplies eu commission had threatened to put curbs on vaccine exports up to astrazeneca say they would miss a delivery target large drug makers are underpressure to boost supplies as those new variants of the virus could challenge the effectiveness of the existing shots just today german chancellor angela merkel head crisis talks with pharmaceutical executives to talk about issues with production, and delivery and how to fix them quickly. stu. >> all right we've got that. the stock is actually up just 8 cents that's a half percentage point. all right got it. thanks ash. more than 1600 flights canceled

as a major winter storm bears down on northeast. janice dean says hold on a minute the worst is yet to come her forecast, coming up shortly plus, we'll check in with aishah in the times square i don't know if i can see her in this blizzard. we'll be back.

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>> one more time just to let you know what a snowstorm looked like in new york city. left hand side of the screen that is sixth avenue you can barely see it. and let's go to janice dean. the weather lady of the moment who is beginning to tell us that things are going to get worse. [laughter] you're going tell us that janice? >> i mean. why not? why not? i'll tell you it is beginning to get worse as long as everyone is taking it safe and they're indoors, because yes the storm is actually beginning to strengthen over next couple of hour and reach its peak. energy off the coast as a nor'easter a wul it a nor'easter

because winds cofreedom the north and east and we have really good snow happening across portions of new jersey i don't know if good is the right word but heavy snow right now. the temperature is in 28, philadelphia as well. up towards montauk and then boston also going to get in on this action. wind gusts excess of 40, 50 miles per hour. and the east of long island we could actually get hurricane force winds later on today. as this storm continues to strengthen and move slowly to north this is going to be with us throughout the day today into overnight into tuesday, as we get a burst of snow into tuesday so this is going to be a long duration event, and that's why we're seeing some of those epic snowfall totals so winter weather ears winter storm warning for some of the big cities philadelphia, new york up in boston albany, so that's ongoing throughout next 12 to 24 hours and this these are totals on top what have we've already received. so in some cases i think we've

already received seven or eight inches around new york city area so another eight inches at least 16 inches. and you can see parts of upstate new york, and pennsylvania over a foot and we will definitely get some two feet mark. absolutely. so there's the storm total forecast with all of it combined, certainly north and west of new york, that's the jack pot but you know what i mean could get close to 20 inches in new york city depending heavier bands with one to two three inches an hour i know my friend it is crazy. >> ewe use the word jackpot again and i would not in connection with two feet of snow janice i have to get a feel for how this looks and feels in the middle of new york city. so we're going back to aishah hasnie she's in times square. set the scene in times square. stuart i had to do a wardrobe change i got a new hat soaked

from earlier today. but don't feel bad for me feel bad for folks behind me especially those guys that are cleaning this steps of times square. i mean, they shovel and then an hour later, they have to reshovel because of how quickly and how much of this snow is dumping back on to the ground here. it is incredible. i don't know pete if you can show them down below snow only the ground. this was cleared an hour ago. there was pavement here an hour ago, and look at it now looks leak it was barely touched. two inches like janice said two an hour back on the ground again. couple of updates for you really quick here stuart. remember we talked about in person learning. classrooms, canceled today now they're canceled for tomorrow too. all of the covid vaccination appointments that were canceled today canceled for tomorrow too and now we've just heard that flights have been suspended at laguardia airport so yeah we're bracing for more of this. in the next 24 hours just hunkering down and like i said,

stay at home. look out the window, enjoy it from the comfort warmth of your home. [laughter] stuart: okay. aishah -- you made your point. thanks for being with us good stuff indeed. [laughter] we'll have more varney and look at that it is a rally on wall street. tell you a bit more about it after this. some companies still have hr stuck between employees and their data.

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♪. stuart: you're hooking at a rally for the major indicators. look at nasdaq please, up 250 points. nearly 2%. game stop is down 19%. jackie deangelis it is yours. neil: i'm jackie deangelis in for neil cavuto. what traders and lawmakers are targeting did. students didn't head back to classes. the northeast getting clobbered with show. the snow snarling everything from outdoor dining in new york city to the vaccine