say? dagen: it's the joke about where the origin of the wuhan, china virus from the debbie choe. maria: exactly. exactly. i agree with you. dagan and brian, great to see you. have a great day. "varney & co." begins right now. take it away, stu. stuart: good morning. the investment frenzy returns. you can call it cross, irrational, you can call it what you will, but it is back that would be stunning rapid gain. right now, it's a cryptocurrency's. elon musk got the ball rolling monday when he treated support for bitcoin. tesla has put one and a half billion dollars into it. this morning it actually touched above $48000 according to bitcoin now at 20-- 46800. read it, which is at the

center of the gamestop the saga has its evaluation double. it ran a 52nd commercial during the super bowl and put out a call to raise money in the money poured in. reddit now valued at $6 billion. one mori to him on the market frenzy story, robinhood has been sued by relatives of a 20-year old investor who committed suicide after mistakenly thinking he had run up a $700,000 loss trading on the robinhood platform pick the suit claims wrongful death, negligent infliction of emotional distress and unfair business practices. new risk cases down 36%, virus of deaths down 12% that progress against the virus helped push the market to a series of record highs monday. looks like something of a clawback at the opening bell today with the dow jones data may be 50 points, same kind

of small loss for the s&p and the nasdaq. four hours from now the second impeachment trial begins. we don't know how long it lasts or if witnesses will be called. we can say a guilty verdict is not likely and we can definitely say it will be a display of ugly political theater. we will not be spending much time on its. this program deals with things that affect our daily life, your 4o1k, pandemic, the vaccinations and things that have meaning to you going forward. that's what we do. "varney & co." is about to begin "varney & co." ♪♪ stuart: hard to handle, yeah you got that right, susan. let's get right at it.

went to shade this exchange between the white house press secretary and fox news peter doocy about the keystone pipeline job losses. roll tape. >> when it is and where it is that they can go for their green job and that's something the administration has promised. now there's a gap so i'm curious when that happens, when the people can count,? >> well, it's-- i welcome you to present data on the thousands of people who won't be getting a green job. maybe next time you are here you can present that. >> there are people living paycheck to paycheck and there are now people out of jobs here when did they get their greener job? >> he has every plan to share more details in the weeks ahead. stuart: interesting, she didn't actually answer the question about when the greener jobs would be available. there's pushback on president broadens radical plans of you will hear more about that in "my take" in the 10:00 o'clock hour. next case, bitcoin now at $46750 per coin on

the heels of tesla's investment in it or tell me more. susan: retracing from 48000 overnight. $48000 a bitcoin, up already 40% in this month alone and we are only 10 days in. many of you, tesla's investment as a game changer for bitcoin, different way for corporate america to use their cash in tesla joins a square the other company that has bought bitcoin with their cash. other companies will likely follow. rbc says apple should buy bitcoin. there's a lot of cash out there, not just apple, but tesla represents .03% of corporate cash holdings, so there's a lot they could buy into cricket-- crypto went bitcoin and dogecoin is the other favorite elon musk.

8 cents a coin and now worth over $10 billion, 10th largest cryptocurrency. market cuban i think he said it best and i just want to warn our viewers that dogecoin has no intrinsic value, but he says it's a better chance of winning than say a lottery ticket while teaching economics supply and demand. bottom line, you can speculate and you might make money doing it, but know what you are getting into. stuart: gambling. the second most valuable digital coin is ethereum and i believe that's also been hitting record highs. coming more, lauren. lauren: there is such a frenzy out there for digital currency. it hit 1800 and it's all about credibility right now so you have elon musk a story, of course, but also cmd once futures contract for either and we lead up to

indicia-- investors pour money in, 195 million and it seems anything just related to bitcoin has rallied. look at these stocks. this is the premarket activity. yesterday these stocks were up as much as 42%, so they hold about 3 billion and bitcoin, 29% yesterday, up 8% right now in the premarket. you have the minors, look at this, tremendous and even a bank has crypto deposits and they are rising again today, so this trade has likes. stuart: crypts-- crypto and all of that companies on the upside in a frenzy now this, reddit has doubled its evaluation following the gamestop frenzy. they are the center of the frenzy. susan: i think they are doing the smart thing racing crash-- cash when there's high interest in the company. shows just how influential reddit has become.

doubling its evaluation to $6 billion, what a difference a year makes because about 12 months ago they were worth half of that. reddit is still not profitable and it was originally sold back in 2006, the magazine owner. they spun it out i guess as it wasn't making a much money event. the ceo said it never hurts to raise cash when valuations are high and it also makes you wonder why didn't gamestop raise money when stock was $500 with an that have been the smart thing to do? stuart: i think was $500 for a couple of seconds. susan: it was $300 per couple of weeks. stuart: we are talking about the retail revolution. susan: i think it's a new economy with bitcoin, ethereum, reddit, social medium. stuart: fairpoint. look who's here, mike murphy. a lot of people jumping into this frenzy. cryptocurrency is a surging. would you touch this

with a 10-foot pole, mike murphy? >> i never thought that between yourself and susan and lauren i would need to be the adult in the room. no, i'm not buying bitcoin at 46000 or ethereum or dogecoin and i don't know why-- as stuart, i had a meeting yesterday with a top 10 hedge fund and they talked about all the big companies going to be moving money into bitcoin and how it's going to take off. i couldn't disagree more elon musk did it. i don't knew who else will do it, maybe apple, but that's not a reason for me too chase an asset class that i don't completely understand that was at $6000 a year ago and now it's 50000. we talk a lot about this, fear of missing out, my portfolio will not have crypto is going to do fine without it. stuart: you are sticking with what you have been sticking with

the last five years, that would be apple, microsoft, solid growth stocks? >> five years, i will be looking for my gold watch in the mail. yes, sticking to what i understand and what works. no one will make me run out and chase cannabis or gamestop and they are going to make me chase crypto so for viewers watching at home it's important, this idea it replaces gold, i don't know if that is true. it makes people smarter than me believe that, but for me i don't think there's any reason you need-- that you have to have cryptocurrency in your portfolio right now i don't see it. stuart: do you accept there's a new force in the marketplace and that is the younger millennial generation associated and a jointed together on social networks? do you accept that they knew force in the market whether you are part of it or not, do you accept it? >> yes. i accept that and you look at the way the

group on reddit, on wallstreetbets got involved, that's fine, but i'm not going to take my retirement account and bedded on these people. i hope they do well with their trades. i'm not actively trading this market right now. on investing in companies like apple and microsoft and uber, the s&p 500 index, the 500 largest companies out there, but i think people on wallstreetbets are therefore reason, to trade and make a quick buck on things like crypto, gamestop and more power to them, but it's not going to have an impact on me and i think most of your viewers out there shouldn't be chasing bitcoin at $46000. stuart: mike, you sound more and more like someone of my age. mike murphy, time is up. thank you for joining us here bars, clubs, theaters all remain shuttered in new york city. that's a year after the pandemic first it. that is not stopping

governor, from backing live entertainment shows starring his a-list supporters. how about that. amazon already pays $15 an hour to its workers or more. they are doing it, but the congressional being counters say if everyone else is forced into it we will lose 1.4 million jobs. will we really go through with the $15 an hour if the government itself is saying is a job killer? we have that story, but first a check of futures after a series of record highs we will pull back a fraction this morning this tuesday morning. we will be back. ♪♪

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stuart: series of record highs the last few days and we will be down just a fraction at the opening bell. looking at big tech, they had a series of close to record highs, they will also be off a fraction at the opening bell. amazon already paying $15 an hour and they are endorsing a 15-dollar an hour minimum wage at the federal level. we have the new study from the cbo says it's a job killer to give me the story, lauren. lauren: cbo is nonpartisan and may find while lifting 900,000 americans out of poverty, the higher wage could cost 1.4 million workers their jobs by the year 2025 because it increasing costs for employers with many that are struggling. the employers then ultimately pass the costs on to consumers so prices rise for everyone else in business goes down as a result.

as you noted amazon supports higher wages, course they do, so does target, best buy, cosco, many banks as they sure they are private companies and can afford to pay their workers more money, but republicans largely argue that it's of the company's decision or the state's decision, not the federal government to determine what $15 an hour should be in a state like west virginia versus in new york, for instance. we have democrats forging ahead with their push for this. they will try to pass the national wage using the budget reconciliation process where it's just a majority needed and that's kind of funny sense what are we 20 days into the new administration, what happened to bipartisanship? stuart: doesn't work in this game. i have one more. i'm looking at doordash buying what is described as a food prep robotics company. to me that sounds like robots in the kitchen.

lauren: that's exactly what it is because robots are cheaper and they call out sick or get the coronavirus. that's a big reason why doordash is buying chow bought x. the purpose is to help the restaurants expand both their menu in their market without adding manpower, so a robot is cheaper. let's say you own a pizzeria and the robot can help you add salads to your pizza and you don't have to-- you just pay one price for the robot can you don't have to constantly raise wages. stuart: sitting here, it's just fascinating with these companies making headlines and i have never heard of half of them from just five years ago. lauren: we are in a new economy. stuart: i have to get up to speed on this. lauren, thank you. looking at futures, and here's how we open the market this tuesday morning. lower right-hand corner of the screen, kenny polcari who joins us, market guy.

you can ignore this market frenzy. i don't care if it's gamestop, amc, silver or a spac, do you think the retail investor should be part of this? >> i think the retail investor is already a part, but i think the retail investor needs to understand and put it in perspective because valuations are stretched i thought we would get a pullback earlier in the year, which we started to and there are so me people expecting the pullback and it doesn't really happen because every time the market gets the chance they jump in for the fear of missing out trade. the retail should be in the market whether they should be chasing stocks at these levels is another question and i think that's really the question we should ask and i think they should not be chasing. if they are already invested, sit back and enjoy the ride and wait for the pullback to come in to jump in and allocate more assets. stuart: is bitcoin a separate case?

it's a soaring this morning at 46800 right now and a lot of big companies have put their cash or at least some of it into bitcoin. is that a separate case? >> i think bitcoin is the case unto itself, is still very much a new asset class. mike murphy said it himself, he's not sure he wants to chase it and doesn't really understand it. although, i will say i felt like that for a while. i have been learning more about it and understanding more about it. i'm watching what's going on and i also started dipping my toes in a day because i think you need some exposure to it. it may blow up and it may not, just don't overweight yourself in it. get a feel for it, but i think it's a bit ahead of itself, but it's a new as a class that i think everyone is getting used to with names like elon musk who is almost greek god like so every time he speak everyone reacts that you can help it. happened yesterday when he tweeted out about bitcoin and what caused the surge yesterday so

you have other people that will start jumping on that ship. mike is screaming about it being 100 or 500,000-dollar assets enough, you know it just creates its own momentum i think you have to be in a, but be cautious. stuart: what worries me is the authorities, the federal reserve for example, the treasury jumping in and making some statement about we are got-- we've got to get a grip on this thing just like robinhood froze trading in gamestop another shorted stocks and that wrecked them, they came all the way down and that's what worries me, the slightest word from the authorities would unbalance the bitcoin's of this world. >> well and that might be true, but at some point the federal reserve and other federal banks will have to jump in to the argument. iccat-- i suppose they can just let it run free without understanding what it means to the global economy and the monetary system as we know it, so that's the

story that will be written to be the sole of robinhood issue, i would love to talk about that but we don't have enough time. stuart: if you're not careful, you will be invited back, kenny. thank you for joining us. let's look at uber. they are $59 a share this morning. down a fraction. they are offering free rides to walgreens to get a vaccine? susan: for people that book a vaccine appointment and doesn't hunt transportation. this is a program that will start in chicago, atlanta, houston, el paso and we know walgreens is trying to play that that scene-- trying to get the vaccine in people's arms and we are trying to get above a million and right now i think it's to have million vaccine doses and this will take years so they are trying to increase that end for mac is trying to help out. stuart: i think it's 1.4 million vote-- doses. susan: i saw this over to over the weekend. stuart: and new cases down 36%?

susan: yes. stuart: death down 12%, i would call that process-- progress. overall, it's tuesday morning and we open the market in about seven minutes. we will be down, but not that much. back in a moment. ♪♪ ♪ ♪ ♪ ♪

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stuart: we have a modest downside move at the opening bell this morning and our future sky of this moment, our stock market guy is it david. it seems to me that the profit report so far have been really very good. what is your forecast full-year profit, 2021, spectacular? >> birding season has been very good. before we get to my 2021, i think it's remarkable to note that profits will be up in the fourth quarter in a year-over-year basis in the middle of a pandemic , so i think it speaks to the strength that we are in corporate profits so we think the

strength continues into 2021. we are looking for 26% earnings growth for the s&p 500 and i would say it could even be higher depending on what comes out of the fiscal packages negotiated in washington. stuart: to me that's absolutely spectacular, a 26% jump in profit year-over-year for the s&p 500. what's the basis of that? why such a strong performance? >> i touched on it briefly, but the government has thrown a lot of money at the economy. that's probably an understatement congress has already allocated $4 trillion. they are talking about another trillion plus, i mean, these are huge sums in the scheme of the economy. the fed obviously is doing a lot in terms of making sure the financial market and the system is working in terms of credit availability, so, i mean, it really reflects a lot of that and it's

also the basis mean profits in 2020 were down about 15%, so it gives a rebound from a week 2020 with a lot of assists from the government stimulus efforts. stuart: i saw the s&p 500 closed yesterday at 3915. linda zico above 4000? linda zico above 4000? >> i think lightly this year and this year we should be a double-digit type of return when you get 25% type of earnings growth, that usually translates into a good return for stocks historically. it should be a low double-digit type or return here, so i think in the months ahead we should very likely see the 4000, which we aren't far away from at this point. stuart: are you worried about the market frenzy? >> i think it's still very isolated in small pockets, i mean, all the

reddit stock and if you out of the market of those stocks is less than 0.1% of the whole market. i think it's very isolated right now, but if you look at the broad market, valuations-- stuart: they are playing your song. that would be the opening bell for the stock market and here we go. tuesday morning off and running. we will be on the downside in the early going. looking at 70-point loss for the dow jones industrial. i see a lot of red when you look at all 30 of the dow stocks. the dow jones is off a quarter 1% and s&p 500, let's see the loss, exactly one quarter 1%. as for the nasdaq as stanley fraction .15%. a lot of red, but not heavy-duty red. gamestop, amc, iq you the price, gamestop 56, one 10th the price of one day-- 10 days ago

and amc up $5 a share. i don't know what the percentages they are. big tech, downside across-the-board, but again they are fractional losses. i mean, look at amazon still 3300. not as a clear sense of direction, but right now the dow is up 31270. take two interactive which even i know is a videogame company and cody, i definitely know that's a beauty company, what's with those two? susan: a grand theft auto and nba 2k powering sales to get better sales, better than forecast and they are raising their guidance for the full year because of the strong demand for their franchise, but the problem is they made no announcement on new game releases and that disappointed investors because they want something to carry through the momentum.

cody, the cosmetic maker , even you knew that that they make cosmetics, stronger company profits with a boost from cost savings because sales are still done over 60%. that has people concerned over the quality of profit because if you save money to make i guess the bottom line look bigger, and it is not exactly growth. stuart: when you started you said y2k, do you remember that scare? susan: twenty years ago. stuart: you don't remember that, but i do. scare of the century. simon property group. show it to me, please with a 4% gain. what's-- wait a second, i know that the simon property group manages more and i know they are not doing well, but-- susan: you knew that, it was pretty significant, a yield play this is the largest mall operator in america and

they are forecasting improved profit which i think is great and that's a recovery comes to retell, tenants and rent collection rates. i think it's pretty positive for recovery out of covid that people are willing to go back into these malls and more foot traffic. stuart: give me some time. i'm looking up the simon property group. susan: it's enticing. stuart: yes, it is. i can't get there in time. let's talk hot stocks. they are up 20% any reason why? susan: they signed a big uk deal to supply medical cannabis marking another step towards international expansion for them which we know two months ago they announced their plans to merge in a deal that would create the world's largest cannabis company so another 20% gain and yesterday we saw double-digit rally and i think

there is probably excitement that more states will allow medical marijuana use and it will be legalized. stuart: primus operate-- signed simon property group-- susan: we will take that. stuart: 5.26. susan: better than the 10 year yield. now show me cannabis growth, canopy. stuart: canopied growth, another pot stock. susan: i think there were some good earnings looks like they posted a smaller loss for the third quarter. product also increased speed when they see good profit in 2022 as demand for its product increases. susan: that's kind of what i just said. stuart: i was reading it off the prompter. now show me fox a, strong ad spending,

callanan company raised its price target to make $36 and is now at 32, the stock is actually down 20 cents. fox corporation is the parent company of this network. on the prompter i see that word, cloud, a buzzword for me. ic that it's a cloud company and it's up 1.7%. susan: we had j.p. morgan upgrading the stocks today. it's a cloud communication company that provides a call on uber when you can't find your writing j.p. morgan says what he calls growth vectors aligning especially with recovery and travel and hospitality will help the hot cloud stock. stuart: all cloud stocks are hot, aren't they? susan: i wouldn't say all. stuart: check that big board, please. i believe it opened a

lower for the first time in about two or six trading sessions with the dow jones of down about a hundred points. the 10 year treasury yield up or down? down 1.14%. the price of gold, up $8, but still languishing at $1842 per share. bitcoin of $2000 at $46800. it had hit 48000. wheel $57 a barrel in the national average for a gallon of regular $2.47 up 16 cents in the month. dow jones loses, here's the list all in red disney, american express, boeing. disney down $3 backing off from yesterday. show me the s&p losers, big percentage losses headed by jack henry and associates. dow jones winners, there are some. mcdonald's, procter & gamble, 3m and nike on the upside. s&p 500 winners,

especially green, not sure what they are due-- not sure they do but they are up 19%. democrats are trying to use their content or president trump and his supporters, trying to unify behind that contempt. watch this. >> he will forever be the twice impeached president. >> he blames others for the violence. it's despicable. >> gleefully watching as they rampage through the building. >> tell them they are not welcome to talk to them, tell them they are not welcome. stuart: may i express the opinion the longer the trial drags on the worse it gets for democrats. you will hear more about that in "my take", top of that 11:00 o'clock hour. that's a spore's betty-- sports platform in the super bowl was there coming out kind of the party for down% this morning. we have the ceo on the show after this.

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stuart: on your screen the latest sports betting stocks. quite a list, none are moving quite that much. lauren, i need a list. where sports betting is legal now and where it might be legal next. do you have a list? lauren: we will show you the map because the list is long. online sports betting is legal or operational and almost half the country. look at the red and orange sun from nevada, new jersey, iowa and virginia have. rules differ based on location, but in a nutshell it's happening across the country and in a few years online sports betting has generated revenue for

states and we has sought the popularity with the super bowl, so many apps that couldn't handle the demand. it was so big and morgan stanley is predicting betting will be approved in 35 states by the end of the year. stuart: got hit. thank you. now look at gan, a sports betting platform that went public in may, this year at $13 a share and are now $28, about 5% today. ceo of the company is dermot smurfit and he joins us now. welcome back peer good to see you. did you have any outages on super bowl night? >> no, we did not. weeks brought-- x performed extraordinary volumes at a michigan which is a brand-new market. michigan or as was bigger than pennsylvania. stuart: now, do you need to have all states legalize, all 50 states legalizing sports betting in order to make serious money? >> not at all.

we are a technology provider so we are fundamentally making significant margins that even current label of scale and beyond. stuart: you did not advertise on the super bowl during the super bowl, do you regret it? >> that's for our clients to do and that includes online casinos, when resorts had a successful launch in michigan together with churchill downs. stuart: can i call you the back office of the sports betting? >> that's a fair description, but slightly redundant perhaps the one that english accent through me. stuart: this is america, explain what you mean. >> we do the technology engineering, front line gambling, that's gan and if you pour money into that account, again, that's gan. we do everything but the marketing. stuart: are you allowed to

explain why your stock is down 5% this morning. >> no, not at all, i mean, the reality is we have had strong response from our recent market launch in michigan. they have taken to online gambling internet extraordinary way. there's been a big back in michigan, which i think the market has responded to and we are super excited to see what the next few states bring, but we see 12 new states in 2021 regulating sports betting with probably two or three online casino. stuart: before we close, can you explain that huge increase in michigan? >> michigan, the gaming regulatory board allowed our clients to advertise a month before day one. a one was january 22, and we will see numbers in a day or two and i

think the big bang moment in michigan will shock everyone and i think you will bring a different playbook for states to prevent remarketing and for for internet gambling to be bigger faster than anyone predicted. stuart: good stuff. dermot smurfit, thank you for joining us. thank you. can you show me general motors, down 1% today. they have had a great run recently with their electric car all out peered down 1%. susan can tell me the reason a. susan: there is a chip shortage for the entire car industry and general motors says they are being impacted, so the result, they will extend bilbo production cuts and downtime at three plants across america and they say they will use as many chips available right now to build their most popular in demand products, but it is something the entire industries facing. ford says their f1 50s supply will be impacted because they cannot get enough chips to supply

the cars. stuart: i don't get it, i mean, his demand is so strong? susan: i would say it's about than i did look at the main places where you get silicon production for these ships and that's in china and russia, but you can imagine covid has also impacted supply chain and caused the delays of. stuart: general motors down 1%, chip shortage. despite being ripped by critics and it was super bowl ad may have actually been money well spent. it's now reported considering a 10 billion-dollar-- 10 billion-dollar ipo. that guy just saying about boat milk, just stood there and we are talking about it today zero. super bowl champion celebrating his big win at the happiest place on earth. watch this short. >> we are about to see a grass spike out of mickey. lets us see, mickey, you

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stuart: started out with minor-league colossus for the major averages. returned at north for the nasdaq and look at it, 14000, just hit it on the nasdaq. i believe that's an all time high. now, we have president by day meeting with what i would call the corporate elites it later today. who is that? susan: the-- 1:45 p.m. meeting with janet yellen. business, jamie diamond of j.p. morgan chase, tom donahoe chamber of commerce, walmart and marvin ellison of lows companies and it's interesting some of the

names are recurring from a trump administration. we had jamie diamond chairing the business roundtable for president trump and also doug mcmillan, walmart helping with the vaccine rollout and covid and testing and i think they will likely talk about the trajectory of the us economy and the impact of the possible $1.9 trillion stimulus plan. stuart: they will talk about corporate tax rates. susan: you think so? stuart: the corporate elite going to the president. susan: i was thinking the us economy and made me improvements -- may be improvements. stuart: i think it will be corporate tax, but we agree to differ. looking at the shorted stocks, gamestop $54 a share. amc, $5. kerrick fung is with us. i know you have a study here and i went to find out what it says.

question one, how many people who piled into gamestop our first-time investors? >> good to be bad. we looked at our data. we are one of the largest consumer spending panels across debit and credit cards and after studying the some of the insights we learned half of the consumers that we saw deposit money into robinhood and purchase gamestop stock, 50% had been new first-time traders and on top of that, 50% of them made their largest ever diy day trade ever over the last four weeks. stuart: so, it was indeed the little guy piling in in their biggest investment ever was just in the last four weeks. that's fascinating. can you tell me what happened when robinhood and others froze trading did these people lose? >> so, based on our data

and this is both quantitative and qualitative survey we brought, 60% of consumers who use robinhood continue to love the platform. we did see a slight dip in deposits, 16%, one sixth of consumers on robinhood decided to turn off the platform when they decided to stop letting consumers trade gamestop and amc, but 60% of the consumer still of the product and we believe they will continue to use robinhood. stuart: a 40% were first-time investors, nearly half have made their biggest investment ever just in the last four weeks and a lot of them lost quite a lot of money when robinhood throws it. where do you think from here-- do you think that trading volume will pick back up again when the blip has gone through? >> i think it's a sign of a new movement of the retail investor. when you think about

last year in the us, robinhood at a more accounts and all the other brokerages, commission free trading, fractional shares on the concept of the meme stock as consumer stay-at-home there will be more-- not just robinhood, you going base going public soon and all these hot new companies going public, airbnb, doordash so we will continue to follow these trends and we were allowed out on a weekly basis and we will continue to cover what's happening. stuart: come back and tell us. derrick fung, we appreciate it. still to come, representative andy biggs, greg jarrett, brian kilmeade and liz mcdonnell all in the second hour of "varney & co." which begins after this. ♪♪

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plus free delivery. get a free prescription savings review at cvs. ♪. stuart: wake me up when it's all over. how many times have i said that? good morning, everyone. it is 10:00 on the east coast a quick check on the markets to get things going. we've got, the nasdaq has turned around. it is now in the green. it is above 14,000. that is one of the morning's headlines. the other is, bitcoin rallying big time just 24 hours after tesla put 1 1/2 billion dollars into it.

it reached 4thousand bucks per coin. it is now at 47,285. just received the jolts report. this is about job openings. ashley the number please. ashley: 6.46 million jobs. the estimate was for six 1/2 million. just a little over that. this is for december. the november number was around 6.527. we've been pretty steady in this range. 6.46 million jobs open. that is the jolts number today for december. stuart: sounds strong to me. ash, thank you very much indeed. no immediate impact on the market. the market is dancing to a different drummer this morning. we're down 86 on the dow. we're up 35 own the nasdaq. and now this. right from the start the new administration moved left and now, after only what three weeks, some important people are saying hold on, not so fast. for example, one of the very first things president biden did was to kill the keystone

pipeline. that pleased the climate crowd. but others in the democrat party are not so happy. big labor for a start. we showed you richard trumka, the afl-cio leader. he over the weekend he made clear the administration should and he thinks will reconsider the pipeline because, well-paid union jobs are at stake. on monday, fox news peter doocy followed up with questions to jen psaki about those lost pipeline jobs. watch this. >> when it is where it is they can go for their green job and that is something the administration has promised. there is now a gap. so i'm curious when that happens, when those people can count on that? >> well, certainly welcome you to present your data of all the thousands and thousands of people who won't be getting a green job maybe next time you're here. >> no. how about this? the labor international union of north america said the keystone decision will cost 1000 existing

union jobs and 10,000 projected construction jobs. >> as the president has indicated he gave his prime time address to talk about the american rescue plan he talks about his plans to also put forward a jobs plan and in the weeks or months following. >> but there are people living paycheck to paycheck. there are now people out of jobs. when do they get their green job? >> has ever plan to share more about his details about the plan in the weeks ahead. stuart: i think they're scrambling to keep big labor and the climate warriors inside the democrat tent. they are feeling the pressure here. there is more pressure. the 15-dollar an hour prann is job-killer. government's own bean counters, the cbo, they say the $15 an hour kills 1.4 million job and hit young people and minorities particularly hard. the new team came out of the box

that a appeal to the left-wing. now comes the pushback to modify, to compromise maybe. i know the left. they won't do it. they believe this is their moment and if they don't push forward their socialist dream is lost. it's a split party. administration trying desperately to keep it together. you will see plenty of political theater with the second trump impeachment. you will see a lot more of it as the democrat party fights its internal battles. richard trumka won't be the only one putting on the pressure. the second hour of "varney & company" about to begin. ♪. stuart: where is he? there he is. you're on. you can see yourself i'm sure. you're looking at monitor. got the cow jacket. you can see yourself. you got the glasses. okay. here is what i'm saying. get ready for the apoplexy of

the left because the pushback is coming. what say you? >> well, again you're right. here's the reason why you're right. because he is trying to be president, every man's president and you just can't do that. he needs to be a leader. from say, newt rock key and vince lombardi all the way to general patton. a lot of folks didn't like those guys, they were able to garner consensus and have a straightforward message, people got behind them. you can't be everybody to everyone. that is the problem with the left. they're asking you to throw away everything you learned since a young child. telling you not to believe your eyes, don't believe your ears. mostly peaceful protest, never mind the inferno behind me. that is the problem. they lost all common sense, stuart. they want to open up the borders before they open up our restaurants. kids that almost adults, they took out student loans. we have to forgive them because they're just children and they don't know what they're doing,

over here, let an 8-year-old decide its gender. don't believe what your eyes and ears are telling you. you can't lead when that is your mantra. stuart: you put it very well, scott. you do. you add it all up. that is pretty good synthesis what is going on. change gears for a second. i'm sure you have seen this, scott. new cases down 35%. deaths down 12%. 10% of the population has been inoculated this is very positive news quite frankly but i don't see it in the media, do you? >> no. okay. i'll sigh what everybody wants to say. they're going to continue to roll out covid new variant number 86. get ready for covid variant 140. they need to keep you afraid, power they garnered over the lockdown, right? why give up all the new frowned powers i had when we get rid of covid. i can't quite get rid of covid

because i'm enjoying my power. at end of the day you will only see good news but bad news in march and april. they scared a lot. it will take a lot longer time for these people to become unafraid than scared first time around. stuart: would you say you've become more conservative over the past year or two? >> i would say i would have to, i've learned to trust myself a lot more. there were some pretty dark times, stuart, i would say something on your show, put things out on twitter, i had a few death threats and people coming after me. i had to take a long look in the mirror, am i going down the path here? the path i was going down what was in my heart and ultimately my gut. that ruled the day. there is an intern know behind you. it is not just a peaceful protest. stuart: i think you're scott shellady are a good man. see you soon, i hope. >> all right. stuart: the second impeachment trial of donald trump begins today. bring in congressman andy biggs.

congressman, i think this could backfire. i don't think americans want to sit back and have the, on their tv screens this very ugly political theater. i'm sure you're going to agree with me. go? >> i agree with you 100%. i think the american people are pretty commonsensical in many ways. they view it like i do. this is bad fact, it is unfair, it is passe. should have never have been done. president trump is a private citizen. are let him move on with his life. let the country move on request its life. i think american people will rebel with this, and there will be tremendous backlash of leftists pushing this. stuart: you're right there in d.c. at the moment. i have a couple of questions, procedural questions, really. have you any idea how long this will go on for? do you have any idea if there will be any witnesses or not? do you have any doubt that they are not going to convict former president trump? you got three questions there.

have a go. >> so the time line i've been told is that for sure each side gets up to 16 hours to present its case. that is 32 hours to present, total to present their case. might be some opening, closing before and after. then also i've been told there is not likely to be any witnesses. but it will be some dueling videotapes, video recordings that you will see. and there is no question in my mind that this will result not in a conviction but in acquittal for president trump yet again. stuart: short and sweet, to the point as usual, congressman. thanks for being with us. you have to get over to look at what the senate is doing at 1:00 this afternoon. >> thanks, stuart. stuart: let's get back to bitcoin, currently priced at $47,200. it had hit 48,000 earlier. give me run-down on cryptos.

>> could hit $100,000 a coin -- he is a billionaire hedge fund investor. he shall we say a bitcoin bull. he says this trend of more companies like tesla, possibly buying up more about it coin is bull bullish for the coin and cryptocurrency. we're up 20% for bit rin. crossing through 48,000. many see tesla's move a fame changer a different way for corporate america to use their cash. tesla joining square, two companies that used their cash holds to buy bitcoin. they said it is only the beginning. rbc apple should join with the 200 billion cash pile. 2.34% of corporate cash holdings going to bitcoin. there could be a lot more spending, a lot more buying a lot more about it coin holdings. stuart: that is bitcoin. tell me about dogecoin. whatever you want to call it. susan: dog coin, many ways.

record above eight cents, now worth $10 billion. 10th largest cryptocurrency. 1600 percent this year. we're only february. stuart: as i call etheorum is the second largest. susan: cryptocurrency out there. we hit above $1800 overnight that was another record. by the way ethereum, this might have helped ethereum pricing since futures on ethereum started trading this week. stuart: can you use ethereum and dogecoin like a regular currency like bitcoin? i don't know. susan: people buy cryptocurrency more speculation. asset appreciation instead of using it for payments. there is high price to use cryptocurrency to pay for something. it is seven buck as transaction. not worth it. stuart: the market come back a bit. down 55 on the dow. we still have big movers. what are you looking at? susan: look at shopify. we hit a record high for

shopify, its checkout service shop pay will role out on instagram. this is the second largest e-commerce player after amazon. tilray hitting highest in 18 months. second straight day of explosive gains. talking about 20% plus right now after they signed a deal to supply medical marijuana products to the uk. people anticipate, investors anticipate more states to legalize marijuana. "grand theft auto," nba 2k maker, take-two interactive, sales continue to power ahead. wall street disappointed. there were no new game releases that were announced. coty they made more money than expected that came from cost savings not sales growth. interesting that wall street cares about the quality of profit now. stuart: yeah. if you're making more money because you're cutting costs that is different from making more money because you're selling more product. susan: that's right. stuart: they're down 13%. taking it on the chin, isn't it? susan, thank you. it was one of the shall i

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it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. stuart: mixed market this is morning after a series of record highs. the dow is down a fraction. s&p down a fraction but a nice gain for the nasdaq, above 14,000. how about that? how about this one, show me please, that glu mobile or glu. susan: gglu mobile. stuart: mobile gaming company, surging. why? because they were acquired by electronic arts in a deal for $2.4 billion. no wonder it is up 34%. cdc yes, will release official guidings for school reopening this week. naomi is with us, very much a

education expert. do you think president biden will stick with the teachers union? >> i do think president biden will stick with the teachers union because there is not enough -- consequences for him and the administration if he doesn't. i think the pressure is really being felt on the local level by mayors and school boards, even some governors but it is not really working its way up to washington. of course president biden, many of the democrats really owe their elections to teachers union money and teachers union voters. they will continue to say, oh, we need more testing, we need more, you know, ventilation in schools. all these things that suggest schools are not safe just yet. you need to hold on a few more weeks, months, who knows how long. stuart: you and i share the opinion this is absolutely outrageous. our children have lost a year's worth of education. they will not get it back

anytime soon. how will we push back against this situation? >> so it is hard to say. i think that parents, you know, teachers unions are definitely feeling some of the heat. you saw this in san francisco mayor's decision that the city would sue their own school district. i think you're seeing in some wealthier suburbs that schools are starting to open up a little bit. new york city is certainly feeling the pressure. [inaudible]. going back to school, at least part time. so there is some pressure being felt but i think the people who are again going to feel the effects of this lockdown the most are the most vulnerable kids, the kids who are poor. the kids whose parents do not have a voice and kids live in big cities where the unions are most powerful. stuart: i would love to see the public school system deunionized. that is total pipe-dream. you know this, naomi. they were unionized first in the

early 1960s. it was by executive order of the president who allowed unionization of teachers. we could rescind that, couldn't we? i know we're not going to do it but wouldn't you love to see that? >> of course. i have mean you know it, would just be an amazing dream come true for those of us who really care about the education of so many kids in this country. i think that in the meantime though, if local leaders and state leaders are really feeling the pressure and wanted to decrease the power of the unions, one thing they could do right away is start to support school choice and charter schools. they could say, look, you're not providing our parents and voters with the education you promised, that they need. we'll sort of start to look into the alternatives. we'll cooperate with charter schools. we'll provide districts only funding if they actually open schools, reasonable steps like that. stuart: but i think you and i share the opinion here, we're not critical of the teachers. we are critical of the teachers

union, right? >> i think that is absolutely true. teachers like any other profession, you know, there are good apples and bad apples. some are great at their job. some of them are not good at their jobs. the problem with the unions they protect people who are not good at their jobs. in this case, the unions seem to be, have the most interests in insuring that their members, you know, get to work, [inaudible] i mean they're basically on an unofficial strike. we're just not acknowledging that. stuart: well-said. naomi, we have to call it quits because the sound quality is not quite there. i would love to see the day come face-to-face with naomi riley. do an interview. >> thanks, stuart. stuart: all right. good news on the vaccine front. nearly 10% of all of us in america have received at least one vaccine shot. lauren, come into this please. we're waiting on guidelines from

dr. fauci how to interact, not the schools, get them back to school. we're waiting for dr. fauci to tell us how to react to each other once we've got the jab, is that right? lauren: yeah, because nine 1/2 million americans have gotten their second jab. which means they're fully vaccinated. so dr. fauci is now saying, the cdc is going to issue new guidelines when they have them about how these vaccinated, protected people can interact in public. look, the numbers are really improving. you're going to love this one. the number of vaccinated people, each week, is 10 times the number of new infections in the country. so let me give you an example. last week about nine million americans received a pfizer or. moderna shot. compare that with 960,000 covid-19 infections. the ratio 10 people getting vaccinated for everyone person

infected. we're moving in the right direction. stuart: yes, we are. that is very good news indeed. i would like to hear more of it in the establishment media. i don't expect it. i would love to see it. lauren, thank you very much indeed. simon property group, they operate malls. i thought they were dead ducks but they're not. ash, they have an increase in rental income? tell me more. ashley: yeah, very positive sign. the stock up 5 1/2%. the largest shopping mall operator in the country says, guess what? it now collected 90% of the combined rents for the second, third and fourth quarters. it does reflect rising sale for brick-and-mortar retailers. they are now able to meet their obligations. the company said it written off or deferred 850 million in recommend owed. the company though, forecasting a rise in profit here. are we completely out of the woods? not yet. we're well on our way.

encouraging news on that front, which reflects perhaps retail getting a little stronger foothold. stu? stuart: got it. thanks so much, ash. donald trump's second impeachment trial kicks off in a few hours. how long will it last? will they call witnesses? is it a total waste of time? that is my opinion. we'll ask gregg jarrett what he thinks of it all after this. ♪. we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hassle-free claims,

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stuart: mixed picture on marketdown on the dow. nice gain for nasdaq, well above 14,000. second people people trial of former president trump -- second impeachment trial for president trump begins in a few hours. gregg jarrett joins us now. what is president trump's defense based on, can you tell us? >> twofold. first of all this is constitutionally anemic. the primary purpose of impeachment in the constitution is to remove a president from office. trump has already left office. but the second is, really on the merits of the case. this doesn't fit the definition

of incitement and the best evidence, stu, actually came last friday in court documents filed by federal prosecutors and fbi affidavits that show that this coordinated attack on the nation's capital was actually preplanned weeks and months in advance dating all the way back to november. it is obviously impossible to spontaneously incite an insurrection as the article of impeachment states if it was all preplanned. so i think democrats, even democrats want to get this over with quickly. i doubt there will be any witnesses who are actually called, any live witnesses that is. stuart: would you say, could be over quickly, what do you mean by in a week? does it go on for two weeks? and in whose interests is it to keep it short and in whose

interest is it to make it long, drawn out? >> i think it is in democrats interest to make it short. what is the point of all of this? they don't have the votes to reach the threshold of 67 votes. so, prolonging it only does a couple of things. first of all it delays joe biden's agenda and second of all it undermines biden's vow to be a unifier. this is simply politically divisive driven by a hatred of donald trump. and then acquittal of trump will be a vindication. so you know, i think, they want to speed this thing through, get it over, and get on to real business because this is an extravagant waste of time. stuart: in the unlikely event i or you would tune in to watch it full time what do you think we'll see? ugly political theater? >> yeah, but i don't think you will see the sort of droning on

and redundant arguments in a sanctimonious vein. there is no adam schiff in this or jerry nadler, thankfully for democrats. jerry raskin, a former constitutional law professor. he is the main house manager for the democrats. he will try to make a very cogent argument but in the end, it is a losing argument, stu. it will not win. we already know 45 republican senators voted previously to dismiss the case because they believe it is unconstitutional to try to remove from office a president who is already left office. stuart: i would suggest watching this program. we intend to be entertaining. gregg jarrett, thanks for joining us. come back and see us soon. good stuff. >> sure, stu. stuart: this is a big story emerging here. it is about reddit. they have raised a ton of money in their latest round of funding. know reddit very much at the

center of this market frenzy we saw around gamestop. how much money are we talking about. susan: $250 million. that doubled reddit's valuation at $6 billion. they were only worth half of that a year ago. what a difference 12 months makes. they're doing smart thing. raising cash with high interest in the company. gamestop, wall street saga shows how influential reddit has become. they move stocks, they move markets. reddit isn't profitable. it used to be owned by conde nast the magazine owner back in 2006, then spun out. anna wintour made that decision. telling "wall street journal" makes sense to him to raise cash when valuations are high. makes me wonder, amc did raise cash at high valuations when there is interest and keenness in the stop. gamestop didn't do that when it was worth 200, $300. why didn't they do that?

stuart: gamestop didn't comb from a magazine company either. susan: what does that have to do with anything? >> i cannot explain why gamestop didn't raise money when they could have raised money. susan: brought in a board member from chu wii. thought he would turn around the company -- chewy. stuart: gamestop is down 14%. amc at five bucks. twitter reporting this afternoon, 60 bucks a share. susan: that's right. more than seven-year high. that means when you rally into the earnings report. wall street is expecting a pretty strong quarter. we're anticipating a second billion dollar sales quarter from twitter. daily active users are the key for social media companies. last count 17 million. will they add more or lose some after banning president trump oaf the platform, that is important to watch. talk of subscriptions services meaning you have to pay for. stuart: exclusive content on twitter.

they will make the tweetdeck which is easier for users to get all the information, tweet on twitter, a paid service. goldman sachs says, that is probably a smart thing. they're preparing clients for a potential surge in reaction to the numbers, huge recovery they're predicting from twitter in advertising revenue. stuart: as you walk up to the earnings report, they're at 60 bucks a share. susan: seven-year high. stuart: monetizing their base is the name of the game. susan: which for a long time since they have become a public company, bringing back jack dorsey as ceo they have been hesitant to do. they haven't been very good at it. hence they were punished by wall street investors. stuart: jobs are in the news today. a new study from the cbo, the congressional budget office, that says that minimum wage hike talked about, 15 bucks an hour at the federal level, they're talking about it, well the cbo says it will hurt like hell. excuse my language. lauren, how many jobs are we talking about? lauren: 1.4 million cut predicterrion by year 2025, four

year's time. the study finds this, quote, young, levels educated people would account for a disproportionate share of those reductions in employment. so it is going to pinch if not decimate the bottom lines of many already struggling companies and with that, the lower paid workers are going to lose their jobs. democrats, stuart, are pushing ahead with this. they want to bring federally mandated higher wages to everybody. and senator bernie sanders says, yeah the only way that this can pass the senate is through budget reconciliation, and that is what they might try to do. so i, there, that there is no unity so far in looking at what the biden administration has done in the early going. stuart: it is all tied up with this impeachment thing as well. time's running out for that kind of thing. all right. let's see, the effort to recall california's governor, that is gavin newsom. that is heating up. former mayor of san diego says he got the best shot to replace him.

he is republican, flipping the state red. he is a republican. kevin faulconer here to make his case that is the 11:00 hour. alarming story out of florida. cyberattackers tried to poison the supply ofen entire town and we've got a live report on that one for you. ♪. trelegy for copd. ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze drifting on by you know how i feel. ♪ ♪ it's a new dawn... ♪ if you've been taking copd sitting down, it's time to make a stand. start a new day with trelegy.

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a choice he'll never regret... ...unlike the choice to hitch hike. ahhh! which ruined his hand modeling career... it's over. don't worry, carl. things are looking up. visit amerisave.com now. lower mortgage rates mean higher savings. stuart: nasdaq composite. look at it, up 53 points. a third of 1%. well above 14,000. the action is in tech stocks today. then there is this. a florida city's water system was the target after cyberattack. jonathan serrie has the report. what were the hackers trying to accomplish, jonathan? reporter: hi, there, stu. authorities are trying to figure out the motive. they do have several leads so

far no suspects. they don't even know if the cyber breach originated inside or outside of the country. they're still trying to determine whether this was simply on line mischief or someone trying something more sinister, trying to harm residents of this small town of oldsmar, located next to tampa. even though this city is located in a major metropolitan area in florida it has its own municipal water system that serves its nearly 15,000 residents and that is the system that this hacker or hackers attempted to target on friday. investigators say the still unknown person accessed the water treatment system as computer remotely and increased the levels of sodium hydroxide a chemical used to regulate the ph balance of tapwater, increasing its level from 100 parts per million to 11,100 parts per

million. >> because the operator noticed increased and lowered it right away, at no time was there significant adverse effect on water treated. importantly, the public was never in danger. reporter: officials say even if the increase had gone undetected automatic sensors around the system would a sounded alarms long before any dangerous ph levels would have reached the public. the cyber breach shows a potential vulnerability in america's utility. >> the important thing is to put everybody on notice. i think that is really the purpose of today, is to make sure that everyone realizes these kind of bad actors are out there. it is mapping. so really take a hard look what you have in place. reporter: while this investigation continues, oldsmar temporarily disabled remote access to the computers in its water facility. the secret service and fbi have joined the investigation. stu. stuart: jonathan serrie, right

there, thanks very much, jonathan. see you again soon. take another look at the markets please. again the big thing to watch is nasdaq. home of big stocks, back above 14,000, 14,038 on the nasdaq. big movers, susan. go through them. susan: facebook, shopify, the deal is moving both stocks that we probably need to talk more about. shopify's checkout service is shop pay will be ruled out next week on facebook and instagram. this is e-commerce and trend for future. on instagram, see picture after bag you want to buy it, click on it and shop pay will execute the check out. stuart: shop pay is facebook thing. susan: shop pay is from shopify, helps you pay for goods online. stuart: okay. susan: bitcoin hitting a new record overnight. above 48,000. that is lifting the bitcoin index fund. gray scale, probably easiest

way, popular way to play bitcoin and surging along with the price of bitcoin. also, what about the streaming plays, netflix, roku? i would call these momentum plays, momentum buying taking place. i haven't seen any headlines particular to both of these names. they have more than tripled over the past year. at least roku has. people watching more online, imagine that helps them out. stuart: facebook shopify thing that is a big one. susan: very big deal. stuart: big deal. two huge companies. susan, thank you. remember, we'll play it again for you. here we go. it is the oatly super bowl ad. roll it please. ♪ wow, wow, no cow, no, no, wow, no cow ♪ ♪ no, no, no ♪ stuart: we don't have to do the whole thing. spare me, lord, spare me that please. they spent, what five million bucks on that ad? and now, what are they doing

about an ipo, lauren? lauren: 30 second, awful super bowl ad is creating a lot of buzz for the company. they are preparing an ipo early as this spring. oatly is looking to fetch a valuation of $10 billion. that was five times its valuation estimated from just six months ago. its products are popular. they're hypey. big companies use them like starbucks and celebrities like oprah, jay-z. this is the new type of company we've been speaking about. they reach out to people in different ways. it is not corporate speak if you will clearly. stuart: that's for sure. very definitely. lauren, thank you. gun sales, what a story. spiking 80% year on year. after the capitol hill riots. we'll talk to head guy at brown brownells. new york city opening a up little bit of dining, too little

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stuart: look at gamestop and amc. quite clearly down sharply today. the frenzy in those much shorted

stocks is really dying down. gamestop is at 49. the other side of the coin literally is bitcoin. this is the tesla musk bitcoin surge. 474,455 on bitcoin as we speak. -- 47,455 as we speak. it was 48,000 earlier. 10:51 on the button. brian kilmeade will miraculously appear on the screen there is the lad himself. covid cases down 36% in last couple weeks. deaths down 12%. we don't hear the good news, all we ever hear, brian is the scare, the scare. you know, it drives me nuts, how about you? >> anthony fauci with bret baier, case are going up. tough winter. really? tough winter, of course we're in the pandemic. compared to where it was, what you projected it to be not close. cases dropping precipitously. think about the people with the

antibodies. we have vaccines with 10% of the population. also we have a situation where not many people are traveling. we're getting smarter about doing it. deaths are down. hospitalizations are down as well. i think it has a lot to do, if you want to get two trillion dollars for the american people we don't have, after we gave them 900 billion we didn't have, how do you do that at the same time laud the case numbers. you can't do it. you have to say it is dire. it is an emergency. stuart: why are we taking so long to reopen restaurants and bars and other places like in new york city, in chicago, in los angeles? why is it taking so long to get the most miniscule opening up moves in these democrat run states? >> i thought one of the most telling stories i saw in the "new york post" last week when nine health officials quit in new york for governor cuomo. you know what they were tired of? they were tired of him running the state by press conference. they were literally watch the press conference and then realize what the policy would be

from there. they watched him tear up the pandemic gameplan that was written right after 9/11 because he didn't feel like it was going to be effective as if he knows. he grew up in the governor's mansion. never held a real job. married a kennedy and then screwed up as hud director. somehow fell into this position after making disparaging remarks about governor pataki right after 9/11 that is the guy we're stuck with right now, more in love with celebrities than the people of new york. feels like he is sentenced to stay here. same thing in these other states because they're not business people. and they're paying the price politically, at least i know they're doing it in california. the latest thing is, get this, get your calculate tore out because as of friday, you can now open up restaurants with the few people left in this city to 25%. what does that mean? 25% indoor. the rest sit out in 19-degree weather outside in some lean-to

on a sidewalk? what does that do? i realized valentine's day on sunday. i let you open up a few days before to get your staff up to snuff for the big day. sunday. we have work and school next day. saturday might be big idea where we get 25% in restaurants. we are led by idiots who don't have mind for business. stuart: careful, careful, brian, let's not dissent to everybody's level. i agree with you. that is strong word to use. not keen on it myself? >> talk to some people who are going home to empty bank accounts. stuart: sure, sure. i don't think we'll return to anything like what we used to be like in new york city for years and years and years. i just don't think we're going back to that. last word to you, 20 seconds, it's yours. >> on that the major cities will go back to normal when law enforcement is allowed to be law enforcement again. you can't do anything without security. even when we come back to

businesses and banks and insurance companies and go back on the subways, the crime is out of control. the shootings and guns in these major cities. and i just spoke to somebody in minneapolis and st. paul today, they have been robbed five times in st. paul. the cops say we're down 25%. we're not allowed to do anything. nothing we can do. it starts with law enforcement. stuart: yes it does. brief an, thanks for being with us. always appreciate it. i will ask the producers if you show me that live shot of sixth avenue. there he is. hear has a radio show to do. be show me live shot of sixth avenue. it is cold. it is about to snow. that is one utterly deserted midtown manhattan. that is amazing. 1 1/2 million office workers used to come into that area you're looking at right now. hardly any of them have come

back, one year into the pandemic. out of rage just. we have another big hour for you coming up. we got senator roger marshall. we have liz macdonald. we have the man who hopes to replace governor newsom in california, former mayor of san diego, kevin faulconer. we're in for a week's worth of ugliness for the trump impeachment trial. that is my opinion. we'll not see. of it here. oh, no, we'll tell you what we're focusing on. my take at the top of the hour. ♪ some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

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>> i am not buying bit coin at 46,000. my portfolio is not going to have crypto and will do just fine without. >> you are going to be in it but have to because system. >> they decided to turn the platform when robin hood's advisors traded game stop, it is remarkable. profits are going to be up in the fourth quarter on a year-over-year basis in the

middle of the pandemic. 26% earnings growth with the s&p. stuart: 11:00 in new york city on the east coast. tuesday, february 9th was a quick show can money shows a major move of the nasdaq composite. that major move is above 14,000. it is up one 12:45% but above 14,000. the second impeachment trial of donald trump begins in a couple hours. we don't know how long it will last. we will not be spending much time on it. it is relevant what is happening in your life. this is a display of hatred designed to unify the

democrats. one thing that brings them together his contempt for the former president. patron is not pretty, and how are they going to feel, when the man they voted for gets trashed yet again. it will be a self-inflicted wound. and and we not see much of it here. we are going to focus on what matters in your life. like this. new virus cases falling sharply. the number of deaths falling sharply. look at that onscreen, we are vaccinating 1.5 million people a day, focusing on getting children back into the classroom vital to tens of millions of parents and vital to the education of students. we will put heat on the teachers union. human must rely on this when

you check your 401 k just as the senate begins its hate fest your stocks rally to extraordinary new highs, clearly the market could care less about impeachment. that is my opinion. the real estate boom, the work from home boom, we will cover it all. retrial of the pump era, this program will not be a part of it. we are forward-looking, looking out for you. the third hour of "varney and company" is about to begin. let's bring in an expert. that man, jason cat, do you think the impeachment trial will have an impact on the markets? >> quite frankly know. originally people were questioning whether congress

would walk and chew gum as far as that is concerned. at best it is a distraction. as you pointed out in your take the market is focused on simple things, the vaccine rollout, the discounts, whether we get fiscal stimulus, the economy reopening and the fed remaining accommodated. liz: any concerns over the latest market frenzy? we've got to game stop, amc, silver and today it is bit coin at 48,$000 a coin. does that worry you, this frenzy? >> i would be lying if i said it didn't give me pause, going through the financial crisis, when you have preconditions of a bubble, parabolic rise of bit coin, and ask if it is

symptomatic over an overall bubble, to be honest about it i don't think the answer is yes. we have reasonable multiples in the context available rate environment we will have for the foreseeable future. stuart: you think the market goes up from here? >> the market knows what it knows, we are likely to get an infrastructure bill at some point and the senate will remain friendly. we are at the walk the walk moment, moment of valuation. stuart: we appreciate it. we have the dow down, s&p down but look at the nasdaq, 14,017 as we speak. elizabeth mcdonnell is with us. what do you think of the market frenzy and i will go through it

again, bit coin, as an investor, market watcher, are you worried about this frenzy? liz: i am worried about frenzies in different parts of the market. it feels like micro bubbles but the market is looking ahead, what you have been reporting about vaccinations coming in, the savings rate popping up, wages are moving up and the earnings prospects are looking up but also seeing job openings, 6.5 million job openings coming in. what would be the catalyst to take the market to the downside? forgive me if you talked about this already but one thing i am hearing from the market, they don't like janet yellen talking about taxing unrealized capital paper gains on people's wealth. janet yellen talking about it's, to pay for biden's agenda for things like infrastructure.

market watcher said what politicians always talk about the british people don't drive the infrastructure, they drive the highway. politicians talking about infrastructure. in a practical sense infrastructure when you hear that word is too much of a big umbrella term for a lot of government spending to be ramped through. that is the concern about janet yellen. stuart: i want to explain. you have a background in accounting. i want to talk about this taxing unrealized capital gains. you have owned the stock at $100 a share and at the end of the year is $200 a share, you've made capital gain, didn't sell stocks or didn't realize the game but sitting on it. janet yellen and the left would come in and take a piece of the gain even though it is not in your bank account. that is the proposal, correct?

liz: that is the proposal and it is unconstitutional. you can only tax income. a wealth tax is unconstitutional and you would need an army of irs auditors turn into appraisers the size of russia, the cost of that would outstrip any revenue they pull in from a wealth tax. i talked to irs officials in the past. they told me repeatedly this would be a nightmare to enforce, they don't want it and we see it would go by the wayside. stuart: let's change the subject, look at what jeff flake is saying about donald trump. he tells the garden, the guardian is a very left-wing newspaper in britain and here is what senator flake is saying. trumpis am requires a certain amount of swagger that you lose when you lose, and he lost. do you think donald trump is going to fade away?

liz: no and what he's talking about, he comes from the perspective of an anti-trumper. when i look at people who sit in the middle of the road on the fence and they are just watching the political trends, the washington dc paper, magazine, talking about trump is biding his time, monitoring the situation keeping a low profile and political reporting trump is planning a reemergence after the try was over, they are confident he's going to be acquitted, that he has connection to grassroots still and they can fire up his base still. even without twitter he can get his message out. it will be interesting to see how he does that was the opposition against him is going to be from super pac like the lincoln project which is going to go after now, us companies

that show any indication they support donald trump. you see bill kristol's funding of his finance pack that he is helping run go after us senators who moved to try to convict donald trump. you will see a lot of bad spending and attacks on donald trump but donald trump probably by the spring is going to reemerge with a message for his grassroots and he's going to come back. they are talking about a come back to run politico for donald trump. stuart: that was good stuff. i will be sure to watch the evening edit at 6:00 pm eastern. thank you very much. check another time on the market please, still got the nasdaq over 14,000, big movers, what is the report. >> cannabis produces going skyhigh, two different reasons. you don't like that?

stuart: stocks revving up. >> losing less money as it cuts costs. they are dying for profitability in the second half of next year and plenty of medical marijuana products heating one.5 year highs, videogamemakers take the interactive to take care of grand theft auto integrate quarter to end last year and no new game releases and that is at the point of wall street. electronic arts, buying the current gains maker. they are paying $2.5 billion for the kardashian gamemaker. stuart: loom noble had something to do with kim kardashian? >> it is pretty popular. stuart: have you played it? >> know but there are lots of

things you can do on this game. facebook and shopify. stuart: i was going to ask you. >> they are surging, to provide the -- over the next few weeks. think of e-commerce with social media, the new trend for the future monetizing on social media. stuart: look at shopify, a major stock at 6% and i respect the kardashians. anyone with that kind of money on being famous. >> they made big business out of that. stuart: the former mayor of san diego wants to be the next governor of california. my opinion if he wants to win he is going to be the only republican on the race. don't split the second. gun sales up a whopping 80% last month.

pretty close was that number could be about to spike even more. we will tell you why. the impeachment begins in a couple hours, roger marshall joins me from capitol hill. he has a preview next. my body is truly powerful.

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>> proliferation are means of great concern that could reverse the recent positive trends we are seeing.

stuart: a downward trend in covid cases all across america. roger marshall is with us. the center is also a doctor. cases, death down, way down. only 10% of the population has received at least the first covid shot. this is great news to me but we don't hear anything about it. >> truly a miracle was hard to believe we shift out of 60 million vaccinations, 40 million in people's arms, morbidity is dropping, mortality dropping, i remember sitting down just before saving with mike pence, vaccinations out the door by the end of january. it is truly a miracle but we can't take concerns down with, keeping the social distance,

let's keep it running. stuart: california, new york, how do you get them to open up. to get the whole economy going. >> we have to keep asking, follow the science. back in school, everybody else will follow as well. we will keep pushing that. stuart: how do you keep the teachers union? >> keep showing it in the science. we said if we vaccinated all the teachers, demanding the teachers go back and teach otherwise they don't get the money. democrats voted against that would hold them accountable. we are grateful for the doctors and nurses, the firemen, the ems workers and the teachers that have been on the front line. stuart: start the impeachment trial. what are you expecting?

>> we will hear from the president's team and the democrats. listen to the tone of the democrats opening statements and you will hear the hatred and revenge in their voices but more importantly what it is not doing is keeping us from doing our jobs, raising the temperature across the country. we should be focused on how to get vaccinations in people's arms. a year ago when nancy pelosi was walking over impeachment orders, doing the same thing today. a year ago i was on the house floor talking about this virus. inviting people to chinatown, focus should be on this virus, getting shot in the arms and getting the economy open again. stuart: how long will this last? >> we want to plan on next tuesday anyway. stuart: is a the republicans

interested dragon out longer on the grounds democrats are showing their hatred and contempt and americans have enough of it? >> i don't think it is best for the country. what is best for the country is get this over with and get on. congress has a hard time doing this at once. this is keeping us from doing our job and what is in the interest of the country is behind us. it is unconstitutional in the first place, no supreme court justice proves it is unconstitutional, and think about precedent this is setting. could be impeach president washington behead slaves? do we go back and impeach barack obama for his administration spying on donald trump? all those things. this is a bad precedent. stuart: thank you for taking time to be with us today. we appreciate it. how about this for a news headline? google is preparing for the 2022 midterms. what are they doing? ashley: they are not going to run, google is beefing up its security at the state level campaigns.

the tools they need, the digital attack. it is now expanding midterms, that is the national cyber security center to conduct training, over the course of that year and it is going to focus on state lawmakers and their staff. trying to beef up security from the cyber front. stuart: i want to know who they are giving money to and i don't think it is republicans. next one, jeff bezos. he would go a ton of money in taxes if washington state passes a wealth tax. how much are we talking about?

>> bezos himself, you noted washington state proposing a wealth tax of one% on billionaires non-tangible financial assets, and how does it have a state income tax. mckenzie one oh $600 million. and steve palmer, $870 million according to the tax foundation. jeff bezos isn't ceo. less revenue because those guys are out and the wealth tax didn't go through. stuart: that may be what they say. they just hate him. that is what it is about.

if you share it or not. >> i think capital is mobile. our own capital is mobile and that is a fact too. >> how else will they pay for $1.9 trillion stimulus plan, it is to be paid eventually. stuart: they will print a ton. they are hiking taxes. you can't pay for this with a tax hike, you can't do it. they just want to hurt the rich. and modern monetary theorists think there's no problem printing a couple trillion dollars, there is no impact. >> can you imagine the payments each month? stuart: tell that to the democrats because they are

going to print and borrow. >> i think americans need help putting food on the table and have a roof over your head. stuart: target the aid, target for assistance. a lot of people getting hurt through no fault of their own, find those people, target them, give them the money. >> 50,$000. stuart: interested in groups of people in specific areas who got really hurt. >> in terms of what the cutoff is in salary. middle-class under 16. stuart: did you hear the producer? get on with it. well done. look at this. a pickup slides off and inter-pass, overpass i should say, goes down 70 feet. what happens next is going to shock you. we have a full video coming up. democrats want more control over your guns, taxes,

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stuart: putting gun stocks on screen. they are up and i will tell you why. gun sales surged 75% compared to january of last year. this follows january 6th events in dc. that is when the big surge happened. jeff flock is a gun store in new x, illinois. are they managed to keep up with demand? >> it is a perfect storm. this is the least busy time of the day. the place is full of people, full of guns also even though inventory is a problem for a lot of people. jeff regular is just swamped. >> lines around the door every day. liz: >> reporter: hard to get total gun sales numbers but we could

do the background check numbers, 4.3 million people background checks in january. where is this going? >> january has been the busiest month for since we have been in business. >> reporter: a perfect storm, all right, and rest of the summer, coronavirus concerns. all the reasons coming to gather. >> and supply demand, people are afraid for their safety so they want to protect their families. you see a lot of new time gun buyers, women coming in to purchase firearms. >> reporter: some estimate 50% first time gun buyers at this point and women, huge number of women coming in. people have fear. >> fear is driving the market and the supply, most gun stores don't have anything to sell. they see a lot of firearms. >> reporter: the last fear is

the president's spokesman. he would love to see new regulations. >> he campaigned on it. he campaigned on gun regulations, limiting the second amendment for firearms, specifically ars. >> reporter: you report, you decide. no question about it it is a boom. stuart: i want to bring in peter brownell, with a major gun organization and gun seller. here's a simple question. the democrats, congress people considering the idea of making you register their gun and making you pay 200 bucks for every gun that you on. i don't know if this will become law and if it did, would it help your business or hurt your business?

>> good question. the idea our civil liberties will be taxed for ability to use it is a bad idea on a couple fronts. a kind of tax like this will close down the ability for individuals across america to purchase a firearm, put it outside the economic ability to exercise their second amendment rights. it would close down business, hurt business but more importantly hamper the ability for people in america to exercise second amendment rights. stuart: do you think the demand for guns would go down if you had to register them? >> it would be flattened out, the demand curve. and hypermarket, having best quarters in the best month we ever had month after month after month and it will continue with this type of risk to a firearm ownership. if a tax goes through it will slow down sales because it will

stop people in those areas that most need self protection, the are areas which are the demographics being represented by these democrats. they vote against their demographic and ownership of firearms. that is who is buying firearms the last 12 months, people in urban areas. stuart: give us a picture of your business and who is buying as we just heard a report about a lot of new women buying, first-time buyers. is that what you are saying? >> we are seeing that. in 2020, 21.one new million mixed checks, 40% were brand-new buyers, of those, 40% were women, of the overall buyers 80%, 8% growth, not putting it in segments,

everyone in america is concerned for their belly to protect themselves, you are seeing defund police, policies in urban areas. these new markets are not traditional people the press wants you to think about. it is mom next door, soccer mom, your friend in the city going into town every day on the rail station. these are traditional blue states. in illinois, 7.1 million new gunowners in illinois alone. that represents 17%, 18% of the overall gun sales, illinois which is predominantly chicago is making sure they have the right tools to protect themselves. stuart: pete brown, valuable information, appreciate you coming on the air to share with us.

tesla, interesting sidebar story, like something $99 preorders for i think tesla's saturday to tonight -- internet service starlink. >> tesla and space x are two several companies but that's not the only company listed right now. space x might go public. it is more predictable. space x needs to pass through a negative cash flow. every new satellite constellation in history has gone bankrupt, they are hoping they are the first to not do that which will take some time. stuart: they are offering $99 internet connection through star link once they are up and running. >> you can preorder the internet from satellites for $99 a month, fully refundable.

starling does say it doesn't necessarily guarantee service in the future but elon musk's company offering star link to a couple customers in the us, canada, the uk, the crown jewel of space x despite the fancy and hyped launches. stuart: >> the richest man on the planet. stuart: a time honored tradition for super bowl winners. we've got the highlights from the trip to disney. luxury brand, online spike in sales. will that trend continue when in-store shopping returns. ♪♪

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stuart: take a look at this. a pickup truck slide off an icy highway, it plunges 70 feet and incredibly it lands up right. this happened in wisconsin, temperatures are in the single digits right now. this is a cold freeze across good part of the country. if you have to, tell us more. >> i have to talk about the cold weather, that is the story being driven by some frigidaire, you mentioned temperatures we are seeing in the upper midwest and great lakes, those continue on today, lots of spots in negative degree area but the wind, that

is what it feels like the wind chill, the field like temperature, sounds like negative 35 to negative 50 so very cold air in place bonding a couple winter storms. round after round in the mid-atlantic, we are seeing another track of snow across the midwest getting to the mid-atlantic, to new england. these are winter storm watches and warnings, everything in the blue, freezing rain, ice on the road, and in new england couple inches with this one. it moves quick so we're watching it today. the cold air we were talking about lingers through the week. stuart: great report, you are a good man. look at grady trimble in frigid cold chicago. feel like minus 2, and you are

on the magnificent mile. anybody shoveling? >> i am. it is too cold to be out shopping today. i'm all bundled up and we are pretty much alone out here but there is some hope for retail especially luxury retail like you see on the magnificent mile. sales were down 20% compared to 2019 but online sales were up from 12% to 23% and there are expectations that will continue into the future, might get to 30% of luxury retail sales in the future and there is hope that luxury retail will return to in person shopping as soon as later this year. a report from the real estate firm jl else's by later this year in downtown city centers, 80% of employees will be back at the office is driving luxury retail and tourism will

rebound, that will help the luxury sector as well. sales down and not expecting it to rebound to the 2019 levels until several years from now and if temperatures stay like this it won't be a busy day on the magnificent mile. stuart: 80% of office workers return, grady, stay warm, see you later. i want to show you game stop because it dropped below 50 bucks a share, $49.25. it is one tenth of the price that it hit ten days ago. former mayor of san diego kevin falconer -- kevin faulconer says he will be replacing gavin newsom and he will be joining us after this. ♪♪

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stuart: super bowl ratings are in, 92 million people watched sunday after game and that is down 9% from last year. now this. >> we are about to see a spike,

you are so fine. what do you think about that? you are so adorable. stuart: the man in the mask was grronkowski. this year there will not be a super bowl parade because of the covid pandemic and now we disney's california adventure park is going to reopen in mid-march but that doesn't mean all the attractions will be open, does it? ashley: no, it doesn't. disney says the adventure park will open next month, what it calls a limited time, ticketed experience in outdoor dining. the themepark is part of the same complex that includes disneyland and operate separately. it means 1000 employees will return to work almost a year after the park shutdown because

of the pandemic. the attractions at the park will remain closed. as with disneyland no word on a potential reopening. stuart: any day now, maybe. remember that commercial? any day now. i think we have kevin faulconer with us. your honor, welcome to the program. you know what i'm going to say. if you are watching yesterday you know that i harangued and harassed tom dellbackareoh the republicans had better have only one candidate because if you split the republican vote you are dead. i see you nodding your head, you want to be the candidate don't you? >> the momentum we have had this last week has been incredible and to that point it is getting everybody aligned with one goal, how do we get a

new governor, in sacramento and we are ready to do that, as mayor of san diego for two terms which i'm the only candidate that has successfully won innovator democrat city and got reelected. stuart: what would you do if you were elected, what is the first thing you would do? when you open everything schools included? >> schools need to open now. i have been outspoken about that. i was in los angeles last week in front of a public school that was shut and right across the street a private school was open with teachers safely teaching students safely learning. we have to get public schools open now, not a month from now or a year from now. that is incredible important. the other issues you and i spoke about before the fact that in san diego the only city that reduced homelessness in the last two years, this is the kind of example of the leadership that is missing from

governor newsom in the type of leadership and decisive action i will take as governor. stuart: how about bars and restaurants? would you open up completely? >> outspoken about getting our economy open and and governor newsom shutdown, with no science behind it. we need a calibrated approach based on science and that is not what we have in california and unfortunately we've seen the results and it has been devastating to our economy and small business community. i learned a long time ago as mayor revenue that puts folks, cops on the street, pay of the street, keep library centric centers and the economy. and livelihoods. that is the approach i will take. stuart: let me put it to you one more time.

california is a thoroughly democrat state, and it is the first, the person who gets the most votes wins, you have to get 50%. are you going to do that? >> the answer is yes and the approach i have taken. in a city whose registration mirrors that of california, the second biggest city. and and democrats and independence. we have a track record of doing that so that is the truck type of track record in san francisco. >> would love to hear on the california progress. with the dow is down am your 21..

we will be back i promise. a totally empty, frigid times square new york courtesy of the earth cam. . .

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stuart: the overall market is

not that interesting. dig a little you come up with some interesting points. for example, gamestop. now it is down to $48 a share. yes, i did the math. that is about less than 1/10 of what it was worth 10 days ago. that is one side of the market. the other side of the market is bitcoin. look at it go. $47,000 per coin. it hit 48,000 earlier this morning. susan you've been with me last three hours watching all this, what do you make of gamestop? >> that gamestop gone sub50, represent as peak or movement. is the money flowing to other asset classes like bitcoin? i think the move to bitcoin is pretty staggering, it is pretty obvious. stuart: that is the movement in the market today. we have bitcoin at 47,000. we had dogecoin. >> 8 cents this week. ethereum paid a record high. this is the wall street reddit brigade and retail investors, cluster of trades. movement of money together.

stuart: it is the new state of the market. the retail guy arrived in big terms, big time. the millenials are out there investing first time. they're in the market affecting it. i welcome it, susan. i really do. my time is absolutely up. neil cavuto is back. neil, it is yours. neil: thank you stuart, very, very much we're watching what is going on with bitcoin right now. you're right, it is sort of a phenomenon in its own right. in and out of the high 47,000-dollar range. we'll explore what is propelling this. a lot has to do with a official blessing from elon musk. talk of apple as well could start using it as a mechanism to buy and sell things. apple gets involved. that would be a big game-changer. we're following developments as well as an impeachment trial starts less than an hour from now. welcome, everybody, i'm neil cavuto. we're watching "coast to coast." thank you for my buddy gerry baker fill