keep watching the economy thank you, everybody for being here obviously, tonight on wall street, a great interview with ceo of draftkings, and sunday talk with governor desantis florida how he is doing why florida is looking a lot more like a growth story than new york right now have a great weekend stuart: i went to see that ron desantis interview. that's important because i think lord is leading the way. good morning. the news is breaking out all over, covid relief, robinhood lifts trading restrictions in the stock market rally roles on but we start with this, the jobs report. 49000 new jobs created in january, that's not so great and december and november were downgraded with much a bigger job losses in those two months than previously announced.

the unemployment rate, however, that came down to 6.3%, good news. it's quite a rebound from the big job losses of december. if more states opened up we would be doing even better. as for the markets response another positive news, dow jones up about 100 at the opening bell with a green for the s&p and green for the nasdaq. moving to the vaccine front, this is another positive, the fda will pass judgment on johnson & johnson vaccine february 26, about 3 weeks away. odds are that one shot vaccine will be approved. with caseloads falling 30% across america, there could be a shift in the public move with a strengthening economy and improving vaccination outlook all good for stocks, going up this morning. robinhood has removed all trading restrictions gamestop another heavily shorted stocks have moved up a little this morning. at this point we have

not seen a return to last week's trading frenzy with gamestop right now $56 a share. overall, we have a lot to go after today dave portnoy got it right, the little guy was left holding the bag and it did and in tears at least for some. president biden is still on the fence with the teachers union, press secretary jenna psyche waffles on getting back to in classroom teaching in the super bowl two days away, joe namath adjoins us. he was inspired by the crowd. what is a super bowl like with virtually no crowd? friday, february 5, "varney & co." is about to begin. ♪♪

stuart: it's gone from the streets and the sidewalks largely on sixth avenue, but still let's get at it. robinhood lifting trading restrictions on all stocks including gamestop. susan, the latest? susan: happy friday. you can buy as many shares of gamestop that you want on robinhood. most of the week you were limited to 100 shares of person, a reason that may be gamestop is down over 80% on the week, but you get a bit of a left this morning with proper head offering-- up-- they greeted by calling the game on today. we called it a gamestop phenomenon and it's been the poster charge of the reddit brigade against hedge funds. this came out from j.p. morgan showing retail investors were not even buying gamestop last week at the peak of the controversy.

apple, amc, plug power, tesla among the top 10 traded stocks, no gamestop, no blackberry or bed bath and beyond and j.p. morgan said it was more of the big guys, the billion dollar, trillion hedge funds driving the wild frenzy in gamestop shares. stuart: because they couldn't buy gamestop because they were trading restrictions. susan: only on robinhood, but it shows you that it's not just a little guys gambling on these stocks. big hedge funds gambled also and they want. stuart: they did. you never know when robinhood or others could reimpose trading restrictions. there's always that hanging over this market if you look at futures, friday morning, february 5, we are on the upside across-the-board, 150 gallon industrial spirit bob doll joins us and it looks like the february rally roles on. wears a going? >> as long as we keep opening the economy is going higher.

we need as the employment report and other things have shown, reduce fear and more confidence pick the best way to do that is open the economy, vaccinations continue to have a drop in cases having consumers may be free to spend some of that $1.5 trillion of excess savings that many are itching to spend. stuart: i think there's a shift in the public mood. i think we are going from negative to a little bit more positive the vaccines are coming. johnson & johnson may be coming, the fed flooding the market with a great deal of money, do you perceive a shift in the mood towards the positive? >> no question. a lot of daily surveys have shown-- it's a stove but steady living in good direction. fewer people hiding under the covers, more people wanting to come out and do things. there are sterile limitations on where you can spend your money. we have to move some of

those ways of people can have access savings and do what they've have normally done prior to the last 12 months. stuart: what do you make of this 49000 jobs created in january with the unemployment rate down 6.3%? >> so, it's not a great report, not as disaster. i think a drop in unemployment rate on the surface looks good, but it's partly because more people dropped out of the workforce. we are still 10 million jobs under the peak of about a year ago and about 4 million people that have left the workforce. open the economy, get schools open so parents that have dropped out because they had to stay home with their kids can get back into the workforce just at a point in time when the economy may need them to work, that will be a self reinforcing positive. i don't think we are that many months away. stuart: okay. bob doll opening up friday show on a positive note.

thank you. i'm sure we will see you again soon. let's get to the johnson & johnson news as they are looking for emergency authorization for that one shot vaccine can be that's, one shot vaccine. lauren, how soon could we get it? lauren: the fda has a february 26, meeting to review the vaccine and j&j said once they get the green light they can ship right away. and going at end of the month. she noted its one dose. it's easier to store. it's easier to ship, and it would be the third vaccine approved in the us helping to more americans vaccinated, so 100 million doses means 100 million people. you don't have to split this shot j&j said they could do it by the first half of 2021. a lot of people say the efficacy rate 66% isn't as good as pfizer and moderna, however, j&j tested their shot again

to new variance-- variance. stuart: at the moment if you look at the nightly news it's pretty negative about the pandemic and the vaccination rates, but i think the knee the surface there is a change of mood on the part of the public as i just suggested to bob doll that we are moving from the negative more towards a positive the think it's justified when you look at what's happening with the vaccine makers? lauren: absolutely. i know so many people who said i don't want to be thinking a pig and i'm not going to get a vaccine when one becomes available. well, i know for people who got vaccinated this week who said they would never ever do it. i think people are frustrated. they want to open up their lives again and they're looking at what regulators are proving and drugmakers are doing and saying give me better shot, let's get on with this. stuart: get on with it. thank you peer now, have a look at peloton.

down 6% premarket even though they brought in a record amount of money last quarter. was the problem? susan: they can't build the pikes fast enough to meet the demand so we are looking at the first one billion-dollar sales quarter for peloton. here's the problem, peloton needs to spend more money to reduce the shipping delays in delivery times. they are putting up a launch of a new treadmill because they need to focus on clearing the big backlog of orders they have not been able to fill. i was looking at metrics and turn rates and the changeover, under 1% so that means when to get a peloton you aren't going anywhere else and anecdotally two of our producers bought a few peloton's so they contributed to the bottom line and they love them so i don't think they are going anywhere. stuart: what's this about the turn rate, $2500 or whatever on a peloton, you aren't going to dump it and go to someone else. susan: well, you could, i mean,

there are other bikes competing out there. it could be a expensiveclothes hanger, but it shows they won't lose to nordic track etc. stuart: not going to be a very expensive clothes hanger. i'm going to quote you. but get back. overall market, friday morning. i am saying it like this, the fed rate rally roles on. 31000-- well over 31100 come up again this morning and as of yet, nasdaq up. senate democrats approved project resolution allowing them to pass covid relief, the big package, without republicans if they can maintain party discipline. they dropped the $15 minimum in our wage by the way. i've details on that coming up. calls growing to get our children back in the classroom, however, looks like president biden doesn't want to stand up to the teachers

union. we are on it. roll tape. >> if it comes down to a binary choice, who will the president choose, the kids are the teachers? >> i think that the bid (-- unfair how you posed the question. stuart: okay, but we did this, the "new york post" not holding back or pulling punches, the cover: joe gets a f. more on that throughout the program. ♪♪ liberty mutual customizes- wait... am i in one of those liberty mutual commercials where they stand in front of the statue of liberty and talk about how liberty mutual customizes your car insurance so you only pay for what you need? uhhh... yes. huh... what happens in this one? seagulls. oh, i like it. how are you doing? (seagulls sounds) only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

act now. stuart: okay, plenty of green with the february rally rolling on. let's look at big tech. they have had a pretty good week. only facebook is down.

now it's higher, all five, the big tech on the upside, but that's premarket. no idea where they will close. covid relief package is going to reconciliation. susan, does that mean they can pass the covid bill without republican support if if they maintain absolute democrat party discipline? susan: you are absolutely correct. don't you love to hear that. it sets them up, you saw a late-night early-morning vote with the senate vp kamala harris being the tie-breaking vote winner. along party lines, $1.9 trillion for the package, 1400-dollar stimulus checks, 15-dollar minimum wage so the package can be passed with the budget reconciliation and a simple majority in the senate, but remember some say it's way too much and proposed a smaller $600.000000000 bill, $1000 check, less

money to local and state governments that don't reopen schools oh have underreported nursing home deaths so people say maybe there is not that much unity in this biden administration. stuart: yeah, as they say it remains to be seen. i hate that expression. economists john lonski joins us now this friday morning. john, it's time we got a report card on the state of the economy. first of all, the jobs report 49000 new jobs in january. give us a state of play for employment in america right now and going forward. >> smaller than expected gains for jobs in the month of january. however, i'm convinced it will pick up considerably once these covid-19 risks fate in stimulus it's the economy and as proof of -- in support of my outlook look at the equity market, it's higher and moreover, the 10 year treasury yield has moved higher yet again, higher treasury

yields reflect more confidence in economic outlook. about the credit market and the equity market are telling us that it's weaker than expected reading on january is not the stein of things to come. stuart: now an update in the state of play on profits. we have these profit reports coming out. tell us how they are holding up. >> rate, they are doing -- i think they will do very well come the first quarter. s&p 500 earnings per share should be out by nearly 20% from a year ago and i think for the entire year the consensus is looking for a gain of roughly 25% and that's going to be largely because of a big rebound by s&p 500 revenues. they are expected to rise by nearly 9% annually. my goodness, if the profits are going by 25% , but sales growth is approaching a 9%, how

can you not have a vast improvement for us activity? stuart: okay, is it a president trump who set the stage for a strong performance in 2021? i'm sure president biden supporters will say he is the one who did it. >> well, i would say that trumps policies worked very well. you know, before covid struck we had the lowest unemployment rate in 50 years, 3.5%. last february, and better get not only did we have very low unemployment, but we had hardly any price inflation to worry about. under the trump administration, the phillips curve that was destroyed and of curse the biden administration is hoping they can have all of the stimulus without eventually having to face the cost of an unwanted acceleration by price inflation.

stuart: i'm going to call it the trump federal reserve economic rally on 2021. that's what i'm going to call it. john lonski, thank you for joining us. see you soon. disney stock, on your screen has gone up recently reaching 181. california's disneyland could reopen soon. that's helping the stock. lauren, how soon could this happen? lauren: i don't know, stuart, but i can tell you i know how long they had been closed and next month it will be a full year. to california assembly members, when democrat one republican and to reopen the big theme park when orange county california which is currently in the purple zone comes down to the orange where the moderate zone is or could governor no, no, no big theme parks can open when it goes all the way to yellow which is minimal infection

rate. what they are saying is the small theme parks can open under orange, why can't we-- open under orange so i don't have a timeline but i can tell you there is reason to be hopeful with a number of infections and hospitalizations in california is improving and if you look at the economic impact, it's an industry that contribute it, $13 billion a year to the state economy. they have enclosed a year, that's $13 billion they don't have. stuart: the pressure is on to open up and of the market is responding by pushing disney stock higher. 181, at the current count. thank you. overall, friday morning with the market rolling on, green for the dow jones, nasdaq and smp. we will be back. ♪♪

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stuart: robinhood lifted trading restrictions on all stocks this morning including gamestop and a msc, both bouncing and that the sporty. john layfield adjoins us this morning.

the restrictions are lifted, gamestop and amc goes up, a tiny fraction compared to recently, do you think we will get back to the short squeezes frenzy anytime soon? >> i do, stuart, but i don't think it will be with transport or a.m. see. we had the trade of the decade with the trade with amc. these are just kids living in their mom's basement getting stimulus checks. these are people who have done research and figured out the short stock and made the trade where people have made a lot of money. people could lose a lot of money also. that always happens. i think this trade move will most likely moved to another short stock or moves to something like commodity or currency where you could have more of a market move. silver was too big. cme changed the rules like they did the hud brothers in 1980s. i don't think the trade goes away. stuart: but, you always have the risk that the brokers will reimpose trading limits if they

think things are getting out of hand. again, the investor gets left holding the bag. >> no doubt about it that the retail investors that were left holding the bag. some made money, south korean hedge fund made a billion dollars, other maids millions of dollars. the reason i don't think necessarily robinhood will put back restrictions is because robinhood is in the back of the hedge fund. robinhood the reason they could get free trades is because they sell their order flow to the high-speed traders who then piggyback on the trade so robinhood isn't out there as if the little guy who's taking on the big guy storming the castle. they are part of the system and that's why don't think necessarily they will put restrictions back on it, but they don't want to alienate traders as they are making too much money off of them selling their trade to the high-speed trader hedge funds. stuart: this morning i'm watching the airlines, the cruise lines premarket, all of

them are up, not much but they are up. i suspect specifically with this i think there's a change of a mood in our country, change of mood from negative to positive and i think that's probably good news for summer travel. what you think? >> 100% agree. i have been looking at summer travel place and i think summer travel season will be one of the best seasons we've ever had since the end of world war ii. that's a pent-up demand we haven't summer travel won't be international. because of what we have with covid and cases down significantly, by april we will see heard immunity with people who have either had covid or have gotten a vaccination and i think the summer travel season will be phenomenal, nothing short of fantastic because people could will be able to travel and they will travel domestically. europe is not doing a good job but they will-- i don't know if they will necessarily go on

cruises, but places like las vegas, disney world they will do well. stuart: vegas going to do well is that why you like mgm? >> love mgm because mary diller got into mgm and that it was the trade of a lifetime and because of what they are doing with sports betting, i think the casinos are doing well because americans want to travel. we have doubled the savings rate we normally have and that's unusual for americans as we like to spend money and want we see covid ease of-- open up for people to feel comfortable acting to go go to places domestically like vegas and that's why i like mgm so much. stuart: i had forgotten mgm is a sports betting play as well as casino stock play in vegas. john, thank you. we have about 30 seconds to go before we start trading and i notice that futures are inching up.

when we came on the air, the dow jones was going to be up about 120th opening and now, we are looking for gain more like 180. 180, possibly and they are ringing the bell. friday morning, february 5, so far we have had a great weekend it's a february rally. lets see if it continues. pretty sure we will open strong. yes, we have, right from the get go up 1509. most of the dowd 30 are open and those that are opened the green. up 106 points, 31200 with a gain of a half of a percentage point. s&p 500, all-time high right there from the get go up one half percentage point, 3890, smp. nasdaq all-time high-- okay, just a quarter of 1%. 40 points, 138 is reliable.

we are also showing you some of those shorted stocks including gamestop and amc. no significant price movements either way even though robinhood has removed all trading restrictions. show a few of those shorted stocks to see what they are doing. gamestop, amc, genius brand, blackberry, express, not that much price movement. however, want to show you johnson & johnson as they have requested emergency authorization for their one shot vaccine. fda holds a meeting on approval february 26. stock moving up again, one and a half percent on j&j. regeneron up 1% after posting a very strong fourth-quarter. on the way down this morning we have snap. come on in, susan, down% susan: they had a strong quarter , but snap like facebook is concerned about apple's upcoming privacy changes and

that means snap like facebook in the future can't track where you go on the internet and target ads. facebook also said apple ios change will have an impact on their sales and same thing with snap they say they are ready but there will be lower sales as a result so analysts are still bullish. we are still close to seven he dollars my think that's the average call on snap shares. stuart: that's that apple affect weighing in there . you are on the show now and i went-- susan: i think so. stuart: yes, you are. is the partnership of apple and kia building the apple car and you have new stuff on the. susan: i think it's pretty much consensus we might seek and probably will see an applecart and it looks like it's inevitable according to analysts "wall street journal", the third alice in three days reporting kia has been approaching potential partners in the state of florida to make that apple car

likely multibillion-dollar injection from apple so we know the local korean press has reported that apple will inject about three and half billion dollars into kia to make the applecart targeting release date 2024, maybe 2025. bloomberg reporting apple hasn't exactly decided or finalized the deal with kia and it's still possibly a competition between korean and japanese carmakers. stuart: but the point is they will do an applecart. susan: have fun will that be. stuart: it's a big deal, i mean, a trillion dollar industry. susan: multi- trillion, electric car, so driving. stuart: can we go back to peloton. earlier you told us they have problems building new bikes. are there more problems, down 7%? susan: it was a fantastic quarter and they are selling a lot of these bikes.

first billion-dollar sales quarter for peloton but they have shipping delays and supply constraints and cannot make the bikes fast enough and as a result they need to spend more to get the big backlog of the bike orders off their books and then they can build the new treadmill which they have now had a delay as a result. price targets today, bm 01 those shorted peloton and i think that proved it was the higher spend when it comes to the backlog but j.p. morgan all calling it a 190 to 20-dollar stock. stuart: got it, that's peloton, thank you. let's move on to pinterest. i call it the ideas website. up this morning i%. i guess they must have-- you are laughing at me-- they must have had a strong holiday quarter. susan: do you know what pinterest does? stuart: yes, ideas website. susan: what does that mean? stuart: well, it means whatever i want it to mean. [laughter]

susan: they have kitchen remodeling to get ideas there on how to remodel your home or recipes. i'm glad i'm here to explain. they added more than 100 million active users last year and is the average revenue per user because it's now an engagement for e-commerce as well. you can look a kitchen remodeling and say i want those tiles or maybe some new kitchen appliances and say i want to buy that so they are making a lot of money off of that trend up 290% over the past year. stuart: interesting, and ideas website. i knew i was right. how about starbucks in canada goose? they are up again today. they have new price target upgrade? susan: upgrades for the golden goose now because we saw kennedy goose accounts, jumped 25% yesterday. canada goose called a hold and sl for goldman sachs with a price target of $39 and they increase their outlook.

candidate dues-- canada goose came in with strong earnings. i think also among the producers we think the stock is rallying because stuart varney is going to buy a $1000 canada goose jacket. don't you think? stuart: no, i don't think. moveon. susan: starbucks raised as a buy as well. mobile orders, digital ordering is driving higher sales. more restaurants are opening their doors as we have the vaccine rollout. stuart: we just had a quick look at activision bill-- activision blizzard way up, up 11% higher peer what is the story? susan: call of duty game maker, the most famous game they make and sales blowing away wall street forecasts. the newest installment in call of duty and also we new covid has been a boom for gaming, record

to spend it during those times of lockdowns at mrs. containing the theme of 2021. stuart: we are off and running this friday morning. we are approximately seven minutes into the trading session and have a rally for the dow jones up about 150 points, 31200 with a gain of about a half percent. 10 year treasury with what john calls when you have an upside move and they yielded some bullish sign for the economy and the yield is up to 1.15%. at the 10 year treasury. price of gold $1800, never really was a safe haven in the frenzy. the price of silver, 2670, way off the high of $30 an ounce earlier this week and bitcoin up again, $38450 i'm interested in oil. it hit $57 and it's staying at $57 meaning the price of gas you pay is going up with the

average national is $2.46 a gallon, up to 20 cents in just one month. here's what's coming your way on this program today. high school seniors in california calling out governor newsom four quote wasting their final year because of his lockdown policies. you will hear from on athlete who says the governor may have cost him thousands in scholarships. the remember this? iconic scene from the hit movie "the worth of wall street" watch it again. >> i'm not leaving. i'm not leaving. i'm not [bleep] leaving! stuart: remember that? weld the real loaf of wall street is here on today's show it has a lot to say about the

whole gamestop saw. you will hear his a warning to robinhood traders coming up. ♪♪

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stuart: did you know that there is a computer chip shortage? ford is stopping production of its at 150 blaming the computer shortage. however, forward is also upping its investment in electric and driverless vehicles and maybe that is why the stock is 1150. susan: ford said they are going to spend $29 billion going electric through to 2025, slightly more than their competitor is what gm is spending at $27 billion on

electric and so driving in the first five years of the decade. fordyce said most of the new cars will be all electric, but you'll still have to plug in hybrid models could they aren't making the same claims general motors did of going all electric bike 2035. we know it's a new car race, electric, driverless, apple jumping in according to reports meaning there's a lot of money to make. multitrillion dollar possible market growth in the next few years. stuart: let's get more on this apple and hyundai possibly getting together to produce viable car. i want to bring in emil michael, a former senior vice president at uber and he follows these things. i went to know a series of things, why do they partner with anyone whether it's kia or a japanese maker, why do they need a partner and why are they going to produce in georgia? tell me. >> why apple is partnering with anyone,

which they usually don't do because apple is known as wanting to develop anything in their product to make it work together best is because if they didn't they might take an extra five years on top of what it otherwise would take because building a car takes a long time. look at how long it took tesla to build their car and perfect it, about 10 to 12 years so they shaved about five years off their timeframe by partnering with hyundai and doing it in georgia gives them more control. they could do it in this country and they can match with their software and do it in the tames timezone and sort of monitoring it if you will well adding to it to make it truly an apple car. stuart: have you got any input on what's truly an apple car? i mean, what's it going to look like? is it going to be a computer on wheels i mean why is it completely apple car? >> i can guarantee you it will look different, i mean, every apple

product from apple tv to an iphone to an imac has a look to it that's recognizable to almost everyone in the world, so i don't know exactly but it will be something that reminds you of their brand like every other product they make. more importantly, it's the software, when you get into any car today and you look at what the map looks like or how you change the radio station, how all the systems work together, it's going to feel simple and it will think probably with your phone and it will be user-friendly because that's how apple has made its name over the decades with all its products so everything, i think, will work together in harmony because that is their brand. stuart: is apple worried about tesla? >> i think apple is worried about tesla to a degree, but the real thing i think that is

happening is apple has $80 billion of cash sitting on their balance sheet and when you think about what is the next thing they can do, well the next logical thing to do since they have done so much with the iphone, ipad, tvs, mac, laptop, the next thing is a car, the next big bet, what other bat will apple take the next 10 years besides trying to make a car? so i think this is their beds and they see what's happening to tesla's market which is about 600 billion and apple is that 2 trillion and said that sound like a big market to get into and we have a lot of cash and a lot of ideas so why not go into that market and give it a shot. stuart: fascinating. apple everything, here it comes. emil michael, thank you for joining us. i think it's a huge story. thank you. one feature of trading this week has been the surge in bank stocks.

what's behind that? lauren: the higher treasury yield at one point today touched the highest level since march 20th, and john said this hour higher yields reflect optimism in the economic outlook so we are looking at the weekly performance for names like j.p. morgan and citigroup, up drastically this week. the bank index is up 10% , so if you pair this with the huge release a bill that could be coming down the pipeline , there's more money in americans pockets and that also helps the banks because sensibly they would pay back their loans and mortgages and the like. one more thing. i am wearing red. i love the red tie and susan is in a red dress. everyone is wearing red because it's heart disease awareness day, the number one cause of death in the us and worldwide for women. heart disease is also the number one killer of women killing approximately one woman

every minute, so we are all wearing red to bring awareness to that and i just wanted to point that out. stuart: thank you. i'm in. we are wearing red. old school versus new school. as quarterbacks tom brady and patrick mahomes go face-to-face in the super bowl this sunday, the ball legend joe namath is back again with us today. it's friday means friday feedback. stick around until the end of the show as we have a lot of your responses to put on the area you could have your question answered. ♪♪ what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq

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stuart: that market onward and upward for the month of february with a positive mood in the country, that's my opinion on ending the pandemic with vaccines coming on strong and women jobs report out this morning, 49000 new jobs created in the month of january. how does that strike you? peter morici is a economist and joins us now. would you make of that jobs report?

it's kind of week is that? >> it's terrible. we have the lockdown problem that people are not spending the stimulus money and it's a bit insane to have another stimulus bill of the kind joe biden wants , like the guy who keeps doing the same thing over and over again. it's insanity. stuart: we are getting the stimulus checks, we have had stimulus checks before and you think we are saving it, not spending it? what's your evidence? >> there's hard evidence , the savings rate and so forth and the briton institution estimated the next round of stimulus spending at 1600-- excuse me, 1400 would be 71% say. people have the money they need if they are still working, i mean, folks that are working at home don't have commute expenses of these days and they are quite copacetic. the real money needs to go to the people on the lower leg of the k. the 10 million people likely permanently unemployed.

two years from now in the economy comes back they will either be working at starbucks part-time or looking for work still and all the people that let the labor force because they are so discouraged. stuart: okay. i agree entirely, but it looks like it's going to be a scattershot approach, all kinds of people getting the money because-- >> is not scattershot, let's be clear that it's not scattershot, he's been advised by people like larry summers, he says science first, people like larry summers, one of the most esteemed economist that it's a bad idea. bernstein has told him that this is a bad idea he went to georgia, the last week of the runoff election and said you vote for these two democrats and make them senators and i will deliver that stimulus check. this is checkbook democracy, i mean, the most sent to cope play i have ever seen as he's been told it's a bad idea, but he has to keep his campaign promise.

stuart: you think some of that money if we get the extra stimulus checks, do you think it goes into the stock market via robinhood? we had a guy my show yesterday that put his stimulus check into transport and made $36000. >> absolutely. that counts as a savings by the way. if i give you money and you put it in your savings account or you put it in the stock market even in gamestop, it counts as savings, it's not spent on goods and services and does not juice the economy. stuart: got. peter, thank you. i have to run. here's what's coming up on this show today, this friday, tammy bruce, joe concha, pete hegseth and rick grinnell. "varney & co." back after this. ♪♪

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gamestop on the upside this morning, now it's up 54%. robinhood lifted all trading restrictions on all stocks, and gamestop's up again. $29 higher, $82 a share. amc up 11%. but now this. it's been almost exactly a year since the wad news on the virus -- bad news on the virus started. maybe it's time for a little optimism? all right. if you watch the nightly news, the anxiety level is still running very high. you'd be scared to death. those virus mutations have people worried, and so does the confusion of who gets the vaccine and when and where. but there are signs that we can get a handle on this pandemic, get control of it. i think the public mood is shifting. the market has reached record highs. if investors thought that we were in for another pandemic depression, stocks would be plunging, not surging.

after a very slow start, states are organizing vaccination centers much more efficiently now. the job rate is rising, and we should soon be getting the one-shot johnson & johnson vaccine. that would certainly help. here's something that gets very little attention, new cases down about 30%. deaths down 5%. i get the impression that the public is fed up with restrictions and prepared to open things up. optimism overcoming anxiety. a shift from dread to hope? looks that way to me. vaccines have arrived, better treatments have arrived, caseloads down. the mood is shifting. two weeks ago president biden said, quote: the worst is yet to come. perhaps he should rethink that. the second hour of "varney & company" is about to begin. ♪ ♪

stuart: all right. she's back, tammy bruce is with us this friday morning. now, i just said something which you might not have been expecting there, the public mood is shifting. i think we've got a handle or we're going to get a handle on this pandemic. what say you? >> well, i would agree with you. and i'm not surprised, you're always ahead of the curve here. but the signs that i've seen leading up to this are things like the recall of gavin gavin , lawsuits in various states, several now in california against the lockdowns. that anticipates, of course, that the people -- that indicates, of course, that the people have realized that the politicians may not know everything, that, in fact, in some cases may not even be caring about the reality of the situation. we've seen the federal government say certain things, they've done some things well under president trump, as an example, like with the vaccine. but when it comes to the rollout and what states have been able

to do, the american people have -- for a year we've cooperated. for a year we've done everything because this, clearly, is serious. but we've realized that, wait a minute. we've seen now the trajectory, we understand what this is. if poll decisions aren't going to get it right -- if politicians aren't going to get it right, we're going to do the things that we can. gavin newsom's in a lot of trouble, and it really is about his handling of the coronavirus. so that's the signal. americans are saying, look, life is difficult. it's scary when you wake up in the morning, but there are things that we can do. of even with the flu -- of course viruses mutate and change. that's what they do. you never control a virus. we understand that. but what we can do is what we've seen, treatments and the vaccines, extraordinary rates of efficacy with those vaccines. americans are optimistic, third r they should be because we're americans. this is what we do, and i think we're beginning to step up. stuart: yes. nice to see america return,

isn't it? and i think we are stepping up too. look, next week -- >> yes. stuart: -- washington, d.c., if not the rest of the country, is going to be dominated by the impeachment trial of former president trump. he's not going to appear. what do you think about that? i think he's missing an opportunity. that's my position. what say you? >> well, i think that he can be heard. he's released a letter explaining his legal team did about why they won't appear, because they feel -- as many do, including the majority of the senators in the senate -- that this is illegitimate, it's unconstitutional. he would add an air of legitimatesty to it, which it is not. -- legitimacy to it. a lot of people miss hearing from the president. a letter he sent to the screen actors' guild unionwas hysterical. he was resigning from the union. we were reminded about his dry humor x a lot of people do miss hearing from him.

i think we will a great deal moving forward, but this is important for the american people to remember this is not a legal proceeding, it's a political proceeding. and clearly now the media and the democrats have turned effectively into stalkers. i mean, they can't let him go. they just won't leave him alone. and i think that he should not abide by what their demands are because it's absurd, it's a waste of the taxpayers' money. with so much other, so much else going on, it's unfortunate that they felt the need to proceed. i think they miss him -- stuart: i think they miss him. i really do. [laughter] tammy -- >> i know we do. stuart: thanks for being with us. see you again soon. i've got to take another look at gamestop. look at it now, up 57%. the latest news on game so many and robinhood, please, susan. susan: gamestop with its first

halt of the day just a few minutes ago, restarting trade, and we are spiking, up close to 70% in the session after coming back online. so the reason that we're seeing this rally in gamestop is that you are now allowed to buy as many gamestop shares as you want on robinhood. this week you were limited to 100 shares, but not only gamestop, but also restrictions being removed on amc entertainment as well. now, we called it the gamestop phenomenon, but i want to show you some of the actual raw data of trading over the past week. gamestop has been the poster child of this reddit rebellion brigade. but actually jpmorgan showing average joe investors, they weren't even buying gamestop last week at the height of the controversy. instead they were buying amc, apple. along with tesla, you didn't see gamestop, blackberry, nokia, bed bath and beyond. so jpmorgan says it was more the

big guys that were actually driving this gamestop frenzy. by the way, if we have gamestop halted again, second halt in just about ten minutes' time. and just one more analysis, short sellers, we talk about how much money they lost, they lost 12.5 billion in january. they actually made 3.5 billion so far this week, and it looks like gamestop is making up, by the way, most of the losses that that they've seen so far this week. they were down 80% heading into this friday morning, now they're back up close to 50% or so. stuart: susan, as we said before, you never know when -- i'm sorry, when robinhood could reimpose trading restrictions. so you never know when the little guy could be left holding the bag. it could happen anytime. susan: well, how about td ameritrade? it's a free country, isn't it? you have other options out there as well. stuart: yep, yep, you got it. you got it right. more on this, gamestop right now halted, i believe, i think the halt's still in place, $79 a

share, up 47%. jonathan hoenig with us this morning. all right, jonathan, do you think we're going to see any kind of return to the trading frenzy in gamestop the on the other -- and the other shorts? >> yes. this is nothing new, the idea of a short squeeze. 1923 there was a site called piggly wiggly or even in 2008, volkswagen was for a brief moment the world's biggest company because of a short squeeze that sent its shares soaring. so this type of thing is not new. what is new, however, is the reddit phenomenon and this inefficiency in market, stocks being overshorted that has the robinhood traders come in and essentially try to correct that. i think as information gets dissemiing nateed faster and faster, you're going to see these types of booms and bust. that's the thing to keep in mind, stuart, that day trading or short squeezing is a very difficult way for the average investor to try to make money. i think it's here to stay, but

just given the volatility in gamestop, investors should be forewarned. stuart: has the lesson been learned, or does each generation have to learn the lesson all over again? >> that's the story of markets, stuart. think of the environment we're in here. i think part of this is a function of this long bull market, 0% interest rates, the stimulus checks and record margin debt. back in 2001 or 2009 after those stock market crashes, no one wanted to take a risk in the market. but these days people are buying what they used to call on the trading floor, aot, any old thing, whether it's crypto, spacs or even penny stocks like gamestop. every generation has to learn it once again. you've got a lot of retail investors and big guys who are learning it with gamestop these last couple of weeks. stuart: yeah. we had one guy on the show yesterday, young man, who'd made $36,000 by putting that money, putting his check, his stimulus check into gamestop and other shorted stocks. he'd made $36,000.

he's not learned his lesson, he's waiting for the next check, i'm sure. [laughter] jonathan, i'm sorry, out of time -- >> hope he holds on to it. stuart: so do i. i hope he got out at the right time. thanks very much, indeed. now, we've got the markets, a state of flux at the moment. the dow down 87. what are the big movers today? software, susan. susan: -- stimulus check investors. are you saying if you don't work on wall street, you shouldn't be investing in the market, you should not be allowed -- stuart: no, no, no, i'm not saying anything of the kind. i'm simply saying, watch out. you want to bet on this kind of stock, watch out. that's all i'm saying. susan: i think he's proven he's made money in the stock. if he wants to spend his $35,000 the way he wants to spend it, he's allowed to. that's all i'm saying. stuart: i have no problem with that. susan: okay. okay, so let's check in on -- [laughter] one of the high-flying unicorn

ipos, guidance was a bit light in their earn, but even unity -- i was surprised by this, and so was the market, apparently -- they said the apple changes on ios 14 is going to have an impact on their business and sales just like snap. also marriott hotels, the business has been crushed during covid, but reporting shows that in their earnings this week that it's a recovery story. and you've seen some bids today. mgm, super bowl, betting it'll hit a record x that'll help sports betters. and what mgm has transitioned to. and finally, you're thousand the expert on -- you're now the expert on pinterest, you know? we saw a big quarter for them, they added around 100 million active users last year during covid. stuart: it wasn't me that moved that stock up 4.9%. i had nothing to do with that at all, and that's a fact. [laughter] susan: we know that. stuart: good.

[laughter] it seems like a simple question, does the president stand with students or the teachers' union? watch this. >> if it comes down to a binary choice, who would the president choose, the kids or the teachers? >> i think that's a little wit unfair, how you put it, that question. stuart: okay. but the question was posed, and which is it? we've got that story for you. hunter biden getting a major book deal from the same publisher which refused to print republican senator josh hawley's book. hawley says it is all political. watch this. >> this is just a classic left-wing hypocrisy. what we're seeing here is woke capital. they have an agenda. they want to push their cronies, their ideological agenda, and they want to silence and punish conservatives, and they tried to do it with me. stuart: ah, the cancel culture. joe concha is here after this. ♪ ♪ -- through the dark side of

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of only liberal ideas. where are you coming from on this? >> well, simon and schuster is a private company, they can do as they choose, but it's bad business, stuart, right in when you announce to half the country, yeah, the kind of books that may appeal to you, don't bother coming to us anymore because we're not going to allow any conservatives to share their point of view on surgeon things, and hawley's just the warning shot now from simon and schuster. i'm sure we'll see more as we go down the line. i'm curious what happens now, stuart, when hunter biden actually has to promote this book on a media tour, right? that's what any author does in terms of going on all these different stations and channels and having to talk about it. i want to know what chapter in this book is going to deal with the fact that he got paid $50,000 from burisma despite having no experience working in an energy company, or what chapter's going to be on china, or what chapter's going to talk about tony bobulinski, his

former business partner. the way this was announced, here's ap's white house reporter says: new, hunter biden, son of president joe biden and an on ongoing target for conservatives, has a memoir coming out on april 6th. i'm 'em pretty sure i would say hunter biden, subject of two fbi investigations, has a memoir coming out on april 6th. that appears to be what's happening at this point, but i want to see who's going to interview hunter biden about all these questions that he's been ducking ever since they came to light last october. stuart: that assumes he will go in front of the media. i'm not so sure. >> yeah. stuart: i read your op-ed. the title is: without trump, late night comedy becomes even more insufferable. [laughter] spell it out, joe, what have you got? >> well, for the last four years basically what you saw was late night tv -- which is supposed to be escapism, right?

i grew up, i was at the end of carson, basically, but i loved letterman, leno was great, i think conan o'brien is a greatallen lent. but owe see the colberts and the jimmy kimmels and fallons of the world turn their shows into extensions of cnn or msnbc. all you saw were prominent democrats being interviewed and fawned over. not because they had something interesting to say because, basically, the interview would be trump said this, why don't you react. and that's what we were seeing, the monologues all based on trump. now he's off the stage, so now what are these comics going to do for entertainment? in terms of celebrities and movies, there's not much going on in that department. have you heard who the golden global nominations are for best picture? the father, mank, no madland, promising young woman. but the point is without celebrities really putting out

movies and without trump to bash, what are these guys going to do in late night? i have a feeling you're going to see who's -- [inaudible] who's just made one person their grave i have train over the last four years. stuart: i'm a little older than you. i go back to johnny carson's heyday in the 1970s, and he was funny. i used to be a waiter. i'd come home late at night, i'd watch johnny carson and laugh. if i watch these late night guys now, where's the humor? it's all a nasty sarcasm all the time. they've got to find something new, and i don't think they will. >> they're angry, right? it's the angry. stuart: yeah. yeah, that's all it is. all right, joe concha, back to your home, if that's where you're broadcasting from, i think it is. thanks for joining us, appreciate it. >> yeah. see you later. [laughter] stuart: now this, former president trump is leaving the screen actors' guild. why, lauren? lauren: this is a great story. so the union had threatened

expulsion after the capitol hill riots, but president trump resigned before they could actually make their final decision. and in a letter, trump cited sag's dismal record doing little for its members besides collecting dues. i'm of laughing because sag's response was two words, it was thank you. and this is so emblematic to me of the trump presidency. they attack his values, he attacks their foil failures -- policy failures. and it was on display with the sag, i guess he resigned, resignation. stuart: he's gone. [laughter] lauren: he's out. he doesn't care. stuart: i want to bring the audience up to speed on gamestop real fast, or please. it was halted -- it had traded at 83, it was halted at 79, it's now down to $63 a share. still very much a news story. and then we have the new leaders of parler. they are heavily critical of the

former ceo, john matze. tell me more, susan. susan: according to parler investors and, yes, that does include dan bongino, firing the ceo, he's the one making this all public. he says he was fired after clashing with parler's board who was headed by rebecca mercer, the main money backer. matze says he wants to preserve free speech. fox business this morning, he talked about his role in founding parler. >> i had made most of the iphone app myself the first two and a half years. so, you know, given recent stress and everything going on, there'd been some pushback back and forth, but i don't understand still to this day why i've been term may noted. susan: yeah, it's tough to be killed out of the company that you founded. par her has been offline since january 11th, that's almost a

month now, and with matze gone, there are concerns parler might never come back online, stu. stuart: i'd like to see them back. thanks, susan. switching gears, let's get to something positive, and i think we've found it. the vaccine front. johnson & johnson wants emergency authorization for their one-shot vaccine. that's important, it's a one-shot vaccine. when might we get it, lauren? lauren: the fda will review it february 26th. it should take them about a week, and johnson & johnson says right after they get that approval, they can start shipping right away. the goal is 100 million doses delivered by summer. that's 100 million people because this is a one-shot vaccine. it's easier to ship, easier to store, it doesn't need a freezer, for instance, and it would bring the number of vaccines available to americans to three. and, stuart, maybe even four because novavax, another drugmaker, they've already initiated just this week their fda approval process as they continue their phase three

testing. so they -- once, you know, once they have their results, they're going to submit them right away. stuart: the more the merrier. i think it's changing the mood of the country. that's just my opinion. lauren, thanks very much, indeed. the effort to recall california's governor gash new some has gained steam. only about 100,000 signatures needed to trigger the election. will ric grenell throw his name in? i'll can him. plus, some states like new jersey raising indoor dining limits. is it enough to keep the restaurant business alive in the garden state? ed renzi sounds off on that in a moment. ♪ ♪

♪♪ ♪♪ ♪♪

♪ stuart: okay. the market's losing a little bit of steam, still some green but not as much as earlier. the story of the morning is gamestop. robinhood removed all trading restrictions. the stock went to 83. now it's down -- well, not down, it's the at $70 a share with a 31% gain. so there's plenty of action but

not like last week. now this, new jersey raising indoor dining capacity to 35%. lifting the 10 p.m. curfew. ed renzi joins us right now. all right, ed, that doesn't seem like much to me. i don't think that's enough to keep the restaurants in new jersey afloat. what say you? >> it's not. it's ridiculous because it's a one-answer solution to a very broad problem. a 300-seat restaurant's different than a 10-seat restaurant. those restaurants are designed to have maximum occupancy and scaled that way. they have 35% occupancy but 100% of their costs. the rent's the same, the utility's are the same. all those costs are the same. 35% won't even touch what they need to be successful. in a 300-seat restaurant, why not just say we want everybody in that restaurant to be 6 feet apart? let the restauranteur figure it out. in a 10-seat restaurant, we want

everybody 10 feet apart, 7 feet, whatever science demands. it's a foolhardy example of how government bureaucrats have no clue on how businesses run or operate. why not ask the restaurateur to meet the needs of science? you know, cleanliness and sanitation is in our dna. let us do what we know how to do best. open these restaurants up. stuart: yes. with you 100%, e.. but even if these badly-managed democrat states -- california, new jersey, new york, illinois -- even if they did open up in the way that you and i are suggesting, it still won't help them out of their financial hole. they need desperately a government bailout. i don't want to see 'em get it, but that's what they want more than anything else. >> well, it's a desperate situation right now. i was so pleased to see that that minimum wage bill didn't

pass last night. but i've got to tell you, pelosi said today they're just going to pass legislation, drop it on biden's desk, east going to sign it. -- he's going to sign it. it's a payoff to the big labor unions. this isn't about raising the black and hispanic low-skilled workers and elevating them. in some ways i think sometimes this minimum wage thing is racist because the people that lose their jobs fastest are the minimum wage worker who are largely hispanics and blacks. so when this wage goes up, people are going to survive. business owners are going to do what they've got to do to survive, and if they're going to get rid of people. tear going to find some other way to serve the public without people. stuart: yesterday on this program we interviewed a young man who -- i think he was in his 30s, and he had taken his check, his government check, his emergency check, and he'd invested it in gamestop and other shorted stocks.

he walked away with a $36,000 profit. he was very happy. but here we go again, more checks are going to go out with this covid leaf package which is probably going -- relief package which is probably going to go through. so you're going to get more and more people with money which they don't actually need for basics, but they'll still get the money. i don't think you approve of that. >> not at all because it's nothing but inflationary. right behind that stimulus package is going to come a whole package of tax increases. and what happens when that occurs? people, retailers are going to raise prices to cover it. they've got to make a certain percentage of profit. and, by the way, large franchising organizations sometimes wink and nod because when those prices go up, their royalties are based on percentages. so the dollars they take in as profit go up. so there's a lot of dichotomies here that people don't understand when you start talking about increasing minimum wage, stimulus packages.

we think one result's going to happen, and the unintended consequences are devastating. stuart: the law of unintended consequences always raises its head. ed renzi, thanks for joining us, we appreciate it. good stuff. now, apple and kia, they are reportedly close to this deal to produce an apple car. very important story here. have you got something new, the latest on this? susan: we have new reporting. it seems like every outlet is getting onboard, and an a apple car lookses to be inevitable. kia has been approaching potential partners now in the state of georgia to make that apple car, likely needing a multibillion dollar investment from apple. they paid the price tag at around $3.5 billion, that's the numbers apple will inject into kia, targeting a release date of 2024, 2025. however, bloomberg reporting this morning and other outlets have reported before that these kia very apple talks --

kia/apple talks are not finalized. either a korean carmaker or a japanese carmaker, and a fascinating interview you had with a former uber executive. i think you have to benefit from the apple know how when it comes to software. stuart: it really will be an apple car, and they really will do it. as you said, it is inevitable. big deal. all right, susan, a complete change of subject. you know chobani, the yogurt maker? they want to go public. when, lauren? lauren: i have no idea. [laughter] chobani does cold coffee, creamers, oat milk. but the proceeds here would help it further disrupt the food market. and what a year already for

ipos. according to renaissance capital, 40 ip if os have been priced already this year, that's up 185% from last year, but last year, especially towards the end, we saw that dramatic rise in ipo and spac activity. this year's looking the same. stuart: yes, we did. thanks so much, lauren. take a look at gamestop, very much in the news again. what's the price now? $75 a share. up 41%. it's been all over the place this morning. the real wolf of wall street, his name is jordan belfort. he says it's all over. hedge funds won and the little guys lost. i'll talk to him about that just ahead. president biden looking into canceling thousands of dollars' worth of student loan debt without congress. a live report from the white house on that after this. ♪ ♪

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♪ stuart: we are still the up but not that much, fractional gains now. well, not too bad. hold on a second, stu, not too bad. the dow's up 139, and the nasdaq is up 11, s&p up 13. modest gains all around, let's leave it at that. the white house is considering canceling some student debt through executive action. blake burman at the white house. break it down nurse, blake. >> reporter: well, here's the political breakdown, stu, here in washington. there are some congressional democrats calling on president biden to use executive action to cancel up to $50,000 per person in student loan debt, that is backed by the federal government. however, at this point the white house said that the president supports canceling up to $10,000 worth per person, and at this point they say they are looking into potential further executive action.

the breakdown, the picture on student loans in this country, stuart, i want to show you some of the numbers here, it's a sobering picture at that because right now there's roughly $1.57 trillion worth of student loans, government-backed outstanding in this country. some 42.9 million borrowers. there's also a private market, by the way, $132 billion worth of loans there. before the pandemic hit, nearly 10% of student loans across the country were in delinquency. so what would all of this cost, these proposals, stu? well, if you look at $10,000 up to per person, you're talking about somewhere in the area of $375 billion. but if you go even higher than that, up to $50,000 per person range that some are talking about here in washington, potentially in the $1 trillion area. again, should this go through. by the way, we did hear from president biden, stu, just a little while ago. he was meeting in the white house with congressional democrats. he talked about the jobs report,

the 6,000 jobs that were created in the private sector, pointed to that and said, in his words, that is why they need to go big on a stimulus plan. stu? stuart: okay. and how are they going to pay for it? only time will tell, blake. [laughter] thanks very much, blake burman. see you again late err. check the markets again, please. still in the green. look, the dow's moving up quite nicely, up 150 points. the big movers, susan, start with palantir? susan: sure. high-flying unicorn, up 5.5% after they announced that they're deepening their relationship with bp oil, offering its software and data analytics to get bp to net zero for an oil company at or before 2050, that's interesting. estee lauder, the cosmetics giant, had a great quarter, also a jump in online. t-mobile, which is the mobile service provider, also coming out with earnings. it's a very busy week, a hundred

companies have reported so far, and despite better profit and better sales, higher costs to get the former sprint subscribers onto its network. remember, t-mobile combined with sprint in that merger, and acti vision winning with their latest call of duty game, citibank just raised their price target this morning. stuart: up 10%. susan: yeah. call can of duty. stuart: that's a big deal. lockin coffee, what's the news, lauren? lauren: they filed chapter 15 bankruptcy in the u.s. they're shielded from liability from u.s. creditors while they can keep their stores open. two months ago they paid about $280 million to u.s. regulators to settle claims that it fabricated sales. that raises concerns about

china, corporate governance, but it helps to solidify the report we're seeing on capitol hill for us cracking down on specifically chinese companies that don't follow our rules, so luckin was delisted in june from the nasdaq. it has paid this money, but this is certainly a black eye for companies like luckin that don't, you know, that make up their sales. $340 million in sale, apparently, fabbri candidated. stuart: yeah. don't do that. you've got bankruptcy, chapter 15 as of now, when you did that. lauren, thanks very much. hold on, hold on. this is for you, hold on. a new robot could help fight covid, maybe got a few chucklings. it's going to be humorous. i've got it on the screen. tell me more about this. lauren: yeah. oh, there she is. hi, ella, that's her name. the company that makes her, their goal was to marry cleanliness with humanity. so she'll sanitize hospitals,

for instance, while making the patients laugh. here you go. >> would you like to hear a joke? [inaudible] get it? lauren: it's silly, but i love the fact that as we turn to robots who can do a lot of things, they can humanize the world as well, and they can make people laugh. she's had better jokes than the one that we showed you, just so you know. stuart: whatever you say, lauren. [laughter] all right. move on, please. let's get on with this. the white house has yet -- now, this is serious. to me, this is really serious. the white house has yet to stand up to the teachers' union and get our kids back in school. pete hegseth calls that outrageous and so do i. pete's with us shortly. get ready for some football. i've got the wrong accent, but nonetheless, the one, the only, the legend, joe namath, coming

up for you. ♪ yeah, yeah, yeah. ♪ yeah, yeah, yeah ♪♪

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♪ stuart: yeah, i like that graphic, failing our children. white house press secretary jen psaki donnelling questions over -- dodging questions over whether the biden administration will stand up to the teachers union and get the schools to reopen. watch this. >> there's no indication that, you know, the teachers union in chicago or san francisco willing to budge at this point. if it comes down to a binary choice, who would the president choose, the kids or the teachers? >> i think that's a little bit unfair, how you pose that question. but i will say the president believes schools should be open. teachers want schools to be open. families want schools to be open, but we want to do it safely. stuart: oh, please. pete hegseth's with us. [laughter] i'm sorry. i don't mean to be too sarcastic, you know, but i'm outraged at this, and i know you are too, pete. i think this is the most pressing issue for tens of millions of parents in this country, and president biden's sitting on the fence. that's cause for outrage, flat out. go at it. >> absolutely right.

i don't believe though, stuart, he's capable of the type of leadership because there's -- on this issue. you know how they say metaphorically, you know, someone is in bed with, you know, joe biden's in bed with the teachers unions? joe biden is literally in bed with a teacher in the union, dr. biden, his wife, is a member of the union, okay? they are lock, stock and barrel education union people. the union celebrated his victory. they almost made the secretary of education a union member. their all in for the -- they're all in for the unions. they think they're a good thing, and they're the base of the democrat party. now, maybe that gives them a chance to tweak them a little bit to say, come oranges you've got to look at -- come on, you've got to looked at public opinion. parents and kids want back in the classroom. you can't go for every single demand. but in chicago, for example, they're trying to get defund the police and rent moratorium, you know, pause on rent payments as part of the negotiation to get back in the classroom. and in fairfax, virginia, you've got students coming back into

class, but hundreds of teachers, thousands of teachers allowed not to come. they're teaching virtually. the kids are there physically, and there are room monitors to watch the kids that are in school, the teachers are not. the political courage is not there for joe biden. look it up, fairfax, virginia. the students will be there, the teachers won't, and there'll be a monitor in the class instead. this is how far the teachers will go to dig in, and i just don't see the courage for joe biden. i don't see it. stuart: it's exacerbating a financial class system. if you've got money -- >> absolutely. stuart: -- you leave the public school system. you get a private tutor, you go to private schools, parochial schools, you change your state. but if you're relatively low income, you're stuck. you've got no choice. you're stuck with a failing public school system. it's downright un-american. i'm sorry, but it really is. >> there you go worrying about the kids again, stuart. if only that's what it was about for the teachers unions. they say it is, it's not. it's about their salaries, it's about using this moment to squeeze it out.

and and you can't get zero risk. stuart, i don't think the teachers are coming back lock, stock and barrel until vaccines are you ubiquitous across our country, and that's next year maybe? who knows? the they've staked that flag in the ground. they're not willing to risk anything and, therefore, kids fall farther behind. stuart: deunionize, please. i'd like to talk about this more, but i've only got a few seconds. are you going to buy any more bitcoin? >> yes. if i can find more disposable income. that's the problem. it's where am getting the money to buy more bitcoin. look at the hedge. it continues to be -- and look at gamestop. you've covered it so well on this program. you know why gamestop happened? because someone is in the middle to make calls. there's no middleman on bitcoin, and it remains the hedge against inflation which is only going to continue to go up under the way we're spending money right now, so of course we're still in. stuart: i'm smiling, because i

know you want me to buy some of that stuff. >> i do. stuart: when i've got disposable income, maybe i'll think about it. just give me some money. [laughter] pete, you're all right. i'll be watching you this week. >> thanks, stuart. stuart: all right. big show still to come. look at this, joe namath, jordan belfort -- he's the original wolf of wall street -- ric grenell, sandra smith and more. plus, you're going to get my take on the reddit trading frenzy. i say gamestop never was and never will be worth $500 a share. that's next, top of the hour, coming up. ♪ on a night when bad dreams become a screamer -- ♪ when they're messing with the dreamer -- ♪ i can laugh it in the face ♪♪

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>> as long as we keep opening the economy it is going higher. >> you vote for these two democrats, make them senators, i will deliver that stimulus check. this is the most cynical problem, he has to keep his campaign honest. >> the trade with the amc or gme, these are not just kids getting government stimulus checks. >> part of it is the function of the long bull market,

stimulus checks, a lot of retail investors. ♪♪ wow ♪♪ i feel good ♪♪ i knew that i would ♪♪ i feel good ♪♪ stuart: i love it, i feel good. what a song to play on friday right before the weekend. it is 11:00, it is 11:0 one eastern time friday february 5th. later this our president biden is expected to make a speech on the state of the economy. he has already made a statement about the jobs report saying that it shows this is why we have to go big on stimulus, as soon as he said it the dow went from a gain of 20 points to what we have now, up 132. the rally is intact.

it is the february rally. nasdaq up 41, s&p up 16. having all-time highs earlier today. one week ago on this program barstool sports after dave fort noise said robin hood screwed the little guy. he was right. robin hood did indeed pull the rug out from under the investors who used its platform. organized retail investors had driven game stop to $500 a share. they were going after the big hedge funds which meant game stop would go down. at first the little guy won. some hedge funds lost. all of a sudden robin hood imposed trading restrictions and game stop plunged leaving many retail investors to face very big losses. we should make it clear if you read the fine print when you sign on you with the robin hood had the legal right to stop

trading at any time for any reason and robin hood may have needed to halt trading in order to keep its own business alive. whether they colluded with hedge funds is the subject of an investigation, robin hood denies that. but they did what they did and there are countless retail investors who are licking their wounds. robin hood has lifted trading restrictions and it is possible game stop will go back up again. it is up 32% at this point. it is possible the frenzy may not be completely over but surely a lesson has been learned, you get speculative frenzies once a generation, maybe lightbulbs or dot.coms to go to the moon and then crash but they do crash because at some point any investment has to be justified by its underlying value and game stop never has been and never will be worth $500 a share. the third hour of "varney and company" about to begin.

look who is here, sandra smith, former trader knows something about the financial world and trading therein. let's hear it again. i say robin hood screwed the small investor. i agree with fort noise but what say you? >> they did what they told their customers they were going to do and they had limitations. they had to meet those margin calls. >> i don't think they told their investors in advance, they were given no warning they were going to stop. >> reporter: of the little guy wants to play on the same playing field as the big

professional guy, then know what you are dealing with but if you think you can get in and trade commission free and don't think somebody is making money off of that like those paying for the order flow on the other side of this then you've got more to learn. liz saunders made a great point from charles schwab it was into this type of trading activity, talking to liz clayman yesterday afternoon. we are all for encouraging in the open marketplace where capital markets, encouraging this new breed of investors but are they investing? are they looking at the long-term investment approach or just digging into this quick speculative trade. for all these lawmakers jumping on the populist approach. i lost we should be careful what we are encouraging. you need to know the rules, what you're dealing with you and get into these trades especially when doing so on margins which someone has to back the trade up and in this case it was robin hood.

stuart: we are in agreement, you have been warned to the you get into a casino you can lose it all. we are on the same page on that. good debate. >> guys like david fort noise -- fortnoise makes a point, everyone wants access but it is important everyone knows how this works and for lawmakers to cry foul when it comes to robin hood they should know robin hood at least was trying to play by the rules many of those lawmakers, legislators had set for them. they had to meet those requests, they had to raise $1 billion and did so the next day, they lowered the restrictions and are back and able to play. one take away from me talking to a lot of lawmakers on this it is scary when they tried to jump into capital markets and start over regulating, not

really knowing how financial markets work. it is interesting to hear. stuart: affair point. i have one more for you. you know about apple doing a deal may be with hyundai, kia, maybe a japanese car producer but they will make an apple car. i think this is wonderful. this is big tech using its vast amount of cash to get into other businesses, other industries and make them 21st-century. i think it is a terrific thing. what say you? >> we could all be driving the apple car in the future. look at everywhere we go. i walk around this building, down the street, rich and poor people have the iphone and it will be an autonomous vehicle. initially the way they roll this out 2024 it could be for deliveries, rowboattaxis, you won't see a driver behind the car and that is the experimentation for the average driver. i love it.

apple is part of our everyday lives, already do so much with it, your phone connects, your home, your office, your grocery store and you don't have to drive the car and made in georgia potentially. >> it is okay for you youngsters, you know how to use your iphone, your pc. you are really good at it. >> you know how to work that phone, you don't have to do anything, you don't have to drive it. and by the way we will be watching you on your show america reports 1 to 3 eastern on fox news. how about this one? you new york times columnist brett stevens came out with a

new op-ed called a letter to my liberal friends. if you want to know what worries conservatives look at california, that is interesting. time to bring in steve hilton. brett stevens is a fairly conservative guy who jumped ship from the wall street journal, went to the new york times because he didn't like donald trump. now he is saying look at california and be warned, this is very important statement from a very important columnist. >> he is exactly right and liberals in california love to boast about the saying, there goes california, there goes the nation. what we liberals thought on the west coast essentially and that traveling across america. they mean this is a promise but for most people they should interpret that as a threat because if you see what has happened as brett stevens

points out under 1-party rule, you've got democrats running in the executive branch through the governor and most mayors of big cities, the legislature, the local level democrats in control, republicans barely have a presence across the state at any level of government and you see what they are doing, the highest taxes in the nation, the worst services, particularly in education, look at the disaster that is public schools in california where on one survey recently particularly hurting black and latino families, four years gap between the achievement of black families and white families because of democrats, the massive disaster that is the public realm in california, the homelessness that is rampant, you drive around and it is literally not an opening statement to say like a third world country, 1-party rule gives you that.

far left district attorneys and prosecutors getting elected who are almost deciding to abolish crime, they say we are not going to take any notice of public urination, drugtaking. it is unbelievable what is happening and there's no challenge to it. that is being exported. stuart: this recall petition recalling governor newsom, it has 1.4 million signatures. you need one.5 or more to make it just right. it looks like he is going to be recalled. there is nothing going to stop that now, is there? >> it looks like it might happen but what could also happen, he could be recalled and someone even worse put in his place, even more left-wing democrat. that is the problem. there is no guarantee if you recall gavin newsom a republican is going to win and even if you do get a republican and the governor's mention which i totally support then you've got the state legislature, supermajorities,

democrats in the state legislature. a lot of these terrible decisions particularly education i made in sacramento not by the governor but the state legislature. it is a massive uphill struggle to take back the legislature. what we really need in california is a revolution, political revolution. you've got to start somewhere, turnaround. places like texas where, the business is so much higher because you've got republicans inside just. we have to stay in the fight, it is possible to turn it around because the results are so disastrous but you've got to play for the long-term and realize it will take 5 to 10 years. stuart: you could rent some space for me in new jersey if you want to. out of the frying pan into the fire perhaps. steve hilton, i know one thing we will be watching the next revolution with you sunday

night, 9:00 eastern only on fox news. thanks for always being here. a new study that will be a very long time before life gets back to normal and whatever normal is, kind of infuriating this survey, survey poll, whatever it is called but we will bring it to you. california close to recalling the governor. who could replace him? could be former acting dni rick grew no. does he want the job? he is on the show? i will ask him. the real-life willful wall street is robin hood's future is toast. jordan belfour throwing his support behind the little guys, he is on next. ♪♪ the love you've got to give me more ♪♪ give me more ♪♪ hey hey hey ♪♪ give me more ♪♪

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once again, that's golo.com. act now. p change you know what? i am not leaving. i am not leaving. i am not leaving! stuart: love that clip. that was the wolf of wall street, my next guest, the real will of wall street joins us now as i want to talk redit. the lesson here is the little guy lost, the little guy lost big. are you with me on this?

>> it is not over yet. you were in the middle, go back to another similar type of volkswagen that got squeezed through the roofing and they had a big shot up, crashed back down but an even bigger move comes, not saying that will happen but these things, the sucker's rally goes up and crashes again more permanently but who really knows? stocks suit their fundamental value. and the wall street guy. stuart: what is robin hood's future. >> it is very bleak. they are sued by so many people.

their investment was negatively impact to shutdown trading. and and eventually they have to sell the company to someone else, and at different corporate equity. and a lawsuit avenue coming at you. the brokers come back in and if it is getting out of hand. the big guys losing their shirt. it could happen all over again, couldn't it? >> two issues here, robin hood restricted trading.

i understand they have liability, capital issues, liability for losses of the accounts, and and increasing margin requirements. i don't see how they will shutdown trading, how are they going to say that, they raise $3 billion. to withstand a run like this. i would be surprised if they did. that would show you once and for all they were doing it with the hedge funds. stuart: you are the ideal guest of the day and glad you are on the show for us so thank you for being here. the original wolf of wall street. to the markets. susan, we have a rally here, modest rally, tell me the movers.

>> jordan bellfort, the original wolf of wall street. if you look at stocks, despite the first sales quarter, they can't make these bikes fast enough so shipping delays and they need to spend more to get the backlog of orders cleared off of the treadmill. a $100,200 stock, coming heldon a cell. we have snap down 7%, it is a decision, daily users jumping by 16 million, 200 million daily users, output was a bit weak because of concerns over apple's privacy changes and makes it harder for snap and facebook to target their ad. ford is higher despite chip shortages meaningless at 150 pickups will be made and supplied. $29 billion on electric cars at least for the first half of the decade and interest, your favorite social media site,

very popular for recipes and renovation ideas, 800 million daily active users. that is incredible and zoom above $400, we will see how well they are doing. stuart: those are some huge moves. you may have noticed ashley webster has not been on the show today. i tell you what. he is in tampa florida looking at the shrimping industry. are you looking at the shrimping industry because we are going to eat a ton of shrimp at the super bowl on friday or sunday or what? ashley: absolutely and we will eat a ton of from today down on the box. the shrimping industry certainly -- restaurants have been forced to shutdown and their demand for shrimp and other seafood his diminished. if you look at the numbers the

demand is down 70%, bad news for shrimpers but there is been an upside. if you look at the retail side, delivery, takeout, supermarket, seafood has taken on a new especially when you consider that during the middle of the year last year we saw a shortage of pork and chicken and beef so seafood has seen an uptick of 270% on that side. i want to bring in a guest if i can, big john smith of smith and sons seafood company. thank you for joining us. you are a processor, you get shrimp of the boat, process and send out. >> we have been very busy, the retail side, grocery store side. a lot of people in the store, not a lot of people in the restaurant and -- if the restaurant side of it is affected in a state we are noticing this is close and florida, georgia, on the downside, they are doing very

well. retail side is everywhere. ashley: look what i found. a table full of food, chef marquis and the food organizer, founder, thank you, i'm i going to be eating this all day? >> i'm the shrimp shift, you are the sushi chef. ashley: why should we buy us ship as opposed to what comes information? >> we are veterans, usa made, you should want this from the usa, better usda regulations, cleaner water and at the end of they look how beautiful the shrimp are. >> can i climb on very quickly? >> absolutely. nice and easy. ashley: it will be a long day. i might be here a couple days. there's a lot of friends. back to you.

stuart: pushing shrimp on the barbie. thanks so much. we are talking super bowl, could be one of the biggest events in sports betting history. all thanks to new online gaming laws. we will tell you how much money is on the line literally coming up.

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>> america is back. diplomacy is back. i made it clear to president putin, in a manner different from my predecessor that the days of the united states rolling over in the face of russia's aggressive actions, interfering with our elections, cyberattacks, poising it citizens, are over. stuart: there was president by delivering his first foreign-policy address. come in rick grinnell, former ambassador to germany. looks like president biden is trying to reverse all of donald trump's policies. is that accurate? >> i don't know about that yet

but he talks about going backwards. going back is a really bad idea. you look at how our allies in the middle east for instance reacted to the obama/biden policies, they don't want to go back, you look at what the europeans want which is to be able to to germany first, friends first type models and they certainly would like to go back to that model but look at syria. that was a genocide under the obama/biden team. all the people who were impacted by syrian refugees don't want to go back. i could go on and on. this idea that somehow going back is good is a dangerous idea. what donald trump was able to do was educate the american public on what it means to be

for america first and i don't think we can never go back from putting america first. stuart: he wants to go back to diplomacy. can he go back to the diplomacy that works? >> let's talk about that. i would love to have this substantive debate on diplomacy. i would say the obama/biden team talked a big game about nato spending or bringing nazi prison guard home from new york city where this guy lived for 12 years. that type of diplomacy where you ask ones and our allies says forget it, goes pound the sand and never bring it up again or don't use the leverage or make it an issue, that is not diplomacy and i don't think

diplomacy is just about consensus where you go to a room with the chinese and say what do you want, what do we want and let's meet with someone in the middle. because diplomacy is just meeting in the middle we could have junior highing do that. diplomacy has to be with muscle. you have to go in like the trump administration did in europe and say to nato members you have been talking about paying more for a very long time and you haven't paid anymore so we are going to make it an issue and what happened when trump did that? nato spending went up and scream from europeans went up. they didn't like it but they loved it. i want to finish by saying somebody tweeted at me recently and i will share it on twitter when i find it again, somebody said can we please go back to the days when -- this is a foreigner -- when an american ambassador just politely asked for something and we get to ignore it. stuart: i'm sure you are aware of this already, look at this tweet from nbc and abc that both claim senate

transportation secretary pete buttigieg just became the first openly gay cabinet member. nbc news did issue a correction but what do you have to say about the first openly gay candidate member? >> we should congratulate pete buttigieg because it is a good thing when we have the ceiling breaking or whatever analogy you want to put on this. it is a good thing but the ideas that somehow he was the first person to serve in the cabinet that was openly gay, i would say there's been a lot of gay members of the cabinet who haven't been open so let's be honest about that and secondly he wasn't the first openly gay cabinet member and now when you play word games like how the dc

media and the left are trying to say confirmed for this specific role and all sorts of nuances i think we should celebrate the fact that he clearly is the second openly gay cabinet member and i think it is a good thing. stuart: you were the first i believe. >> i was. stuart: yes you were. i was waiting for you to say that. next one, 30 seconds left. you are a california guy. would you think about running for governor of california? >> a lot of people focus on step 2, 3 or 4 before they focus on step one. we need to recall governor newsom and we are trying to gather signatures to get that on the ballot, this is a crucial issue. states are supposed to compete. florida and texas and south

dakota are all beating california, they have great governors, governor abbott, governor gnome and we need a better governor in california and a lot of people will look at that race once gavin newsom is on the ballot for recall. i think there will be a lot of people jumping in. stuart: i'm laughing because you are a diplomat and that was one of the most of american answers to that question i ever heard in my life. you danced all the way around, what a guy. >> i'm not trying to be political or dance. i haven't really thought about it because we are focused on gavin newsom. the media likes to jump in and talk about it but to be honest i have thought more about buying a horse ranch in southern california than i have about anything else. those are just honest answers. stuart: honest answers indeed. thank you for being with us.

it is friday, we are 11:30 eastern time winding down the week but it has been a great week on wall street. gives the numbers. how good? >> reporter: a record week, this could be the best week of the year since november of 2020, does up 3.5%, nasdaq is up 5.4% advocate the broader market, the russell 2000 blowing them all away, this is a measure a small start, up 6.2%. i'm giving it 3 reasons for all of this, the vaccine rollout is looking promising, readit trade quite a bit marking return to fundamentals and the january jobs report increases the likelihood that we do get more stimulus. i was looking at price targets on the s&p, city and bank of america at 3800. we are there right now so i wonder who is going to come out and start to up those targets for the end of the year. i know the year as long as anything can happen but that is where we stand.

stuart: that may hold up if it is as good as we think it will be. look what is coming up on this show momentarily. and the joe name is is here, looking to play to the crowd so what does he think of the scaled-back super bowl crowd. i will ask him because he is on the show. erica sony at the super bowl experience in tampa where fans can virtually meet and greet players, how does that work? we will find out after this.

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>> look at game stop, the trading restrictions of been removed but we have not returned to the frenzied pace of last week. game stop at 64, up 20%. the pandemic clearly scaling down super bowl crowd, 25,000 will get a piece of the action.

bring in cheryl casone who is at the super bowl experience in tampa, tell me about fans meeting players virtually. how does that work? >> reporter: tampa bay buccaneers fans behind me. they really want to say hello. you asked about the players. they are not here. what brought you here today to the nfl experience? >> excited about the game virtually on your tv screen. >> tom brady. >> taryn got to introduce tom brady. the players are appearing virtually.

tell me did you see any players virtually today at the nfl experience? >> i did. >> did you get to see? >> philadelphia. >> how about you? >> here having a blast. >> how about you? >> taking it on. >> 34-21. >> reporter: it is getting competitive here. these are two rivaling factions i will send back to you. stuart: i heard that guys say chiefs win 34-28. if that is the case i should play over in the under overbeck which i will not do but there is cheryl in the middle of it all and look who is here, put

him on the camera, there he is, one of the favorite guests on this program, joe name is, great to see you again. i know you will not make a projection who wins. you won't do that so i am not going to ask but let me ask you this. did the tampa bay bucs have home-field advantage even though there's only 25,000 fans in attendance? >> they have a slight advantage being at home and not having to travel. i don't know they will make a big difference here. mother nature might come into play and that could influence the kicking and passing game. stuart: what do you mean mother nature? what is that got to do with the? >> the forecast calls for rain and wind coming out of the north.

the football does funny things in the apps it gets hit by wins. the wind is supposed to be coming out of the north. with the field-goal kickers and punters it could influence the game of it. stuart: i don't gamble but if i did i would play the under over and i would play the over. the line is 57.5, i think it is. if i were gambling i would play the over with a couple quarterbacks like this. what do you say to that, joe namet h? >> you got to play with your heart, you're not gambling but you would play the over. on the other hand, knowing the weather conditions will be a little bit off, knowing the tampa bay defense is pretty strong and their running game pretty strong they might keep the ball out of the hands of the chiefs a bit. i don't know if it is over, the

ball gets slippery too, and turnover, the fumble, flip of the ball out of the quarterback's hands. these could throw the teams off. if it is a foul weather night i would put it under if we call that bit. stuart: we will agree to disagree. i hear you opened a restaurant or about to open a restaurant. it is in florida. what are you doing opening restaurants when you have this pandemic still with us and capacity restrictions in some places? >> we haven't opened yet but we will with restrictions on attendance. we do it here, my family and i, keeping apart from other people as much as we dislike that.

doctor anthony fauci has been very good at coaching us and i have been good at following coaching over the years, so the distancing, wearing of masks all very important. down here with the restaurants, we welcome the public but they will be separated, we won't be seated at full capacity at all. stuart: best of luck, we always like seeing you, come back soon. >> thank you. running out of time but we will always have a little time. will friday's feedback the next, we will talk a little about robin hood too. ♪♪ i try so hard ♪♪ i know what it is about the little guy

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car insurance so you only pay for what you need? uhhh... yes. huh... what happens in this one? seagulls. oh, i like it. how are you doing? (seagulls sounds) only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: come on in for friday feedback. this comes from bailey gump, recent college graduate investing in my robin hood portfolio for several years, you frequently stated you owned microsoft stock for many years which is a relatively new investor i'm curious what made you purchase and hold onto microsoft for so long.

ipod it originally because i felt it was stable. big-name company with solid business. i was going to treated like utility and keep the stability there, then the price started to move up and i bought some more. it was a winner, we held onto it and it is still a winner. there is this one from harry back. was the redit game stock seriously hyped or overblown? you first. >> a movement of any trader whether there is a little trader or those with experience that are saying enough. to play in this market and they set up for themselves. fantastic story. it was an inflection point in 2021 how business and trading investing has done these days and you had this brigade and this huge young youthful

investor interest. something we haven't seen in two decades. stuart: thank you. an email from dorothy wiggins. please stop using the term the little guy. these little guys are well informed and educated stock investors. we know the risk when we buy any stock. i am sorry i don't mean to use it in a pejorative fashion, just an expression the kind of work. if i say the retail investor, what does that mean? everybody knows what the little guy means. i'm not sure you agree with me on this. >> you miss the point. the main point of the email is we are educated, we research, do our homework and know the risks of the market. stuart: i will leave it at that. i want this one to be answered. dave kuhn writes this. who was the most interesting persons to has ever interviewed

and why? it was margaret thatcher hands down, this lady rescued the brits from socialism, deeply admire her for that and she got together with ronald reagan and beat conservatives. an interesting person. >> what year? >> a long time ago. can't remember the exact year but it was a long time ago. most interesting interview. >> that i have interviewed or watched you interview? many. here at foxbusiness tim cook. >> i will take the little guy. a woman with als who wrote a novel with her eyes. i cry. i had to hide my tears the entire time. it stuck with me. inspirational. stuart: the only way she could

write is movement of her eyes and blinking, that was it? >> a computer program. >> that is interesting. thank you very much. keep sending in those questions, look at the big board up 82 points. more varney after this. ♪♪ where in the world is that going to reach my chair i mean it... uh-oh, sorry... oh... what? i'm an emu! no, buddy! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ ♪♪ ♪♪ ♪♪

stuart: hey, susan -- susan: yeah? stuart: who was the most interesting interview you did before you came to fox business? susan susan i actually sweated

through the commercial break thinking about this, jet li, martial artist. stuart: who? susan: jet li, martial artist. stuart: okay. susan: i can't work with this. stuart: i should never have done that. [laughter] we're out of time, susan, you can't even explain yourself. maybe next week. my time's up, so's susan's. neil, it's yours. neil: thank you, stuart, very much. have a wonderful weekend, my friend. all right, i want to take you right now outside the white house, democratic leaders have just met with president biden here. they're outlining the house's plan to take the senate but not on that stimulus measure and budget support. let's dip in. >> -- to the people who need it most. it's just that we are there, we just can't get it reported that we are there. [inaudible conversations] >> we have had 17 reconciliation bills in recent times in