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tv   Cavuto Coast to Coast  FOX Business  February 10, 2021 12:00pm-2:00pm EST

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session. nasdaq off a third of a percent, dow, s&p, also down slightly. big names reporting after the bell, uber, mgm, windham resorts among them. stay tuned to fox business for all those numbers. our time is up but guess what, neil cavuto is taking it away. neil: stuart, have you had some work done? ashley: thank you very much, neil. neil: thank you, my friend, very, very much. ashley webster. we've got a lot coming. welcome, ladies and gentlemen, "coast to coast." we're monitoring the reassumption of that impeachment trial in the united states senate, what surprised a lot of folks everything said and done yesterday. six republicans said this was constitutional procedure, they could move on. we'll get a lay of the land here, what will be next couple days, 16 hours of testimony
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divided among both parties, eight hours each, over the next 48 hours. we're on top of that. markets are not focusing on this so much. there are not real big surprises as they start with the opening prayer. susan crabtree, "realclearpolitics" white house and national correspondent. susan, with these things, i maintain the market view, no surprises expected. there was a teeny one yesterday, bill cassidy of louisiana, said he would go along with five other republicans to every single democrat to say this whole trial is indeed constitutional. where do you see this going? i know democrats have been talking up startling new evidence and all of that to implicate the evidence beyond what they had charged before but what do you expect to happen today? >> well i do think that bill cassidy development was pretty significant in the course we're
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looking at because it is pretty predictable. we do expect there won't be 17 republicans who will join with all 50 democrats. that is the amount needed, at least that amount to impeach the president for a second time. for a conviction this time in the senate would have a greater impact, of course. we're looking, all eyes are right now looking at mcconnell. he is sort of the mystery card here and i think that he could go either way and that could swing other republicans with him. i doubt it will swing the 17 needed for conviction but, but that will still be a major, huge development if mcconnell decides to go ahead and vote. he didn't do so last week when rand paul had his motion to table because it was unconstitutional. mcconnell went with the majority and said, yes, he did think it should be tabled and it
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should not go forward. neil: nevertheless when he did tell other republican senators just vote your conscience, what you think is right, that did, you know, trigger discussion, are there more potential republican votes here to convict if essentially their leader has given them the green light to do whatever they wanted to? the senators contemplate, many are running for re-election, the threat of being primaried, donald trump and his supporters have a long memory, what do you think? >> i'm looking at senator rob portman. as you know recently announced his, he was going to retire, plans to retire. he is sort of the conscience of the senate and the republican conference. i covered him for 20 years. i think that if he is moved by the arguments, jamie raskin, representative jamie raskin made a emotional case. i'm not sure it was on the case
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of tying president trump to the events of january 6th, but he was a powerful opening statement. so i'm watching what rob portman does. i do think that his, his decision to retire is based on the fact that you do see everything so politicized that this impeachment in fact, i believe is based on the next election cycle. they want to get the republicans so they can build these ads against them and tie them to president trump, if it is beneficial for them. i really think that is what this is all about. people like rob portman are sick of that. it will be interesting to see what he does. already pat toomey also on his way out. he already indicated he is most likely a vote to convict. as we've seen him say it is constitutional to move forward. i'm looking at moderates here to see what they will do.
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neil: all right. so real quickly, mitt romney was the only republican to vote, that was for the second article of impeachment last go round. it is possible we could have up to half a dozen, maybe more. do you think we'll get that? >> actually do think we'll get there. at least we'll have, we'll have more than six. i believe that is the situation here. people, you know, other impeachment was very difficult for the public to understand. people see these images and they get it. there is no mistaking that act of january 6, the terrible scenes were indefensible. whether that is tied to donald trump or not, whether the impeachment managers can do that, i think that is a big hill to climb. neil: all right. gotcha. susan, great catching up with you. susan crabtree. catch you up, what you're
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watching, jamie raskin, maryland democrat, lead impeachment manager sort of stating the case, laying out the ground rules, 16 hours allotted for republicans, democrats to make their case, both for impeachment and rejecting an impeachment vote or conviction. that framework says this can happen over two days, not exceeding eight hours each day. so presumably this will take us to 8:00 p.m. tonight. they stopped. they resumed tomorrow. roughly the same time. there is four hours back and forth on each side to rebut what the other has stated. we're hearing that mr. raskin, host of others have some new evidence they're going to debut. we don't know what that might be. whether that is strong enough to change mind or certainly move the markets but and the latter we have at least jackie deangelis to sort of monitor what is happening. very little of this, jackie at this juncture what is proceeding right now in the capitol on the fate after former president. maybe if it were a current president it might be a little
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bit more mark get-moving, but so far it has been invisible to the markets, hasn't it? >> good afternoon, neil. i think that is right. if you look what we're seeing with respect to the averages, this is what they like to call on wall street choppy trading. it is a little bit of a indecisive market. it moved really fast. maybe you see profit-taking here, remember earlier this early this morning we hit record highs not just on the dow but the s&p 500. there is momentum there. there optimism there. you're talking about the impeachment process. you laid it out so nicely at the top. that is not phasing the market per se, only maybe the market thinking stimulus package will be held up by these proceedings that would have to go on that. is the concern you're doing two things at the same time. that is something we'll have to watch. look at winners here. you can get a sense what we're seeing. walgreen, united health, chevron, american express, they're taking us up including
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dow inc. losing side of the board see what we have at this moment. cisco, boeing, microsoft, which has gone so far so fast, mcdonald's. it is a little bit of a mix across sectors we're seeing. oil is at 13-month high. you're seeing pent-up demand or expectation of that. as recovery getting underway, and oil trading just under $60 a barrel. wow, we have not seen that in quite some time. some other things fueling the optimism as well. a strong picture with respect to earnings. we got earnings this morning from general motors, coca-cola, under armour. this afternoon we'll hear from uber, that is a very highly anticipated report. generally speaking there is positive news with respect to the vaccine issues. you're seeing new cases, spread, coming down and hospitalizations are coming down. that is keeping investor on the positive side. you have the big tech board up there. they were all higher this morning. they are are all lower at
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moment. these are the stokes, apple, microsoft, alphabet, facebook, driving the rally for quite some time. they're taking a little bit of a breather today. there are a lot of people in the economy, in the country out of work right now. so jobs are in focus. fed chair powell will speak this afternoon. he will address that as well. i will finish with disney. they will be reporting earnings. this is one that everybody is waiting for, anticipating as well. the stock was higher a little bit earlier. they have done so well with streaming. we'll hear more from the company about their streaming plans, also their subscriber numbers. that has been offsetting the losses they have seen from the theme parks. maybe with restrictions easing a little, those theme parks will start to do a little better, neil. so much to watch right now. it is pretty exciting for a choppy session if you think about it. neil: a lot of people on disney what happens to disneyland. the world is open on a limited capacity.
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if disneyland follows suit that could be a game-changer for them. we'll see. jackie, thank you very, very much. we're focusing on the fate, potential fail the after $15 federal minimum wage. at this point it is not automatically built in to the president's $1.9 trillion stimulus plan that doesn't mean there is plenty of interest of congress to make sure it is. that wage hike was cleared in a key house panel, could set the stage for other issues coming up. pushing it out of the full house, getting it to the senate to make the sam same push, forcing the president's hand. the president is open to that. that it might be evened out or presented over a four-year time period. that has been a bow on the part of bernie sanders to make it happen. what if we phase it in over those four years. get the read where all of this is going, particularly on the wage front. with us scott shellady, the cow guy and danielle shea, director
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trader of options. danielle, it didn't look like likely in the beginning this would be part of that package but you know progressives are still pushing it. clears a house panel. i think it would clear the house fully. i think it would have a good chance in the senate. i'm just wondering if it risk compromising votes for overall stimulus package and sort of wedged in there, what do you think? >> absolutely think that it will compromise the votes for the package. i think this is what we've seen from the administration so far, that they're trying to fit as much as they can into the stimulus packages because they know that the people want the stimulus package. so i mean we have two factors here, right? is it going to be included or is it not? i think in the end it probably won't be included because it will probably impact the package in a negative way but i think you're dead on, it will be something that is passed in the future, no matter if it is included in this package. neil: would you have any
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different view of things, scott, if that happens? all of sudden, a key component that was not, any chance of being any component is in there? you know wall street seems, as you talked to me in the past whether you like it or not loving a big stimulus package of almost two trillion suits them just fine. they were not on the side of republicans wanting to whittle this down but if that is included, then what? >> the fact of the matter, i think it's a negative inclusion. i mean i understand what the progressives want. i want more money too, don't get me wrong but i do want more none any at the expense of person that works on my right or the person that works on my life because the omb says it is a jobs killer that is another problem. as you well know i lived in london for 15 years. they had some similar issues. you can't really find a person anymore behind counter a lot of places that had the wage increases. i also have friends that restaurants in chicago and just like in new jersey where they
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have allowed 25% capacity up to 35% capacity, oh, by the way, don't look over here because i will make you pay 50% more for your help or employees that doesn't help those small businesses around the country. so what does it actually do? that's the problem. and i will finish with this, rising tide lifts all boats. you don't hear about a 15-dollar an hour federal mandate when we have overall unemployment rate at 3.4%. it just doesn't come up. i would much have everything be wide open, everybody working hard, making their tips, arguing what parts of the country should pay what. opening things up is a way better answer than just stimulus. neil: these markets at these levels, danielle what do you think, what do you tell clients? too rich, they're reflecting reality, what? >> well, for the market has been incredibly strong this year, neil. i mean today we finally saw a little bit after liquidity break but i think that's completely
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normal for the markets to pull back because they have been so strong and we cannot deny the impact of a retail traders here, okay? you have a ton of new money coming into this market. these are mostly buyers. they're not short sellers. and what i'm seeing right now is the amount of buyers in the market, specifically the amount of calls. it does get a little bit dangerous up at these levels, up at new highs because if there's any reason for the market to pull back whatsoever, stocks can get hit very quickly. we can see a pretty quick reversion to the mean. that being said, if that happens, that is what the market needs. it has been trading higher for days on end. i would love to see a great pull back here to around the 3800 level because i would buy again. neil: that would be a drop of more than 10%. >> yes. neil: would you be scared if that happened, scott? i guess depends over what time period, but what do you think? >> no, i wouldn't be scared.
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i absolutely agree. the stock market has become the new economic indicator, right? as long as it is going up everything is great. that is really not the case. some parts of economy earnings are doing well but how do we get over these bad unemployment numbers? how do we get over things slowing economy down? we're not open 100%. i think there would be some help that would be great having that market back up a little bit. you can't get in the way, took me a long time to learn this cost me a lot of money what i think should happen or what is going to happen? i can't think about is happening but i have to think about what is going to happen. the path of least resistance is now up but a correction would be probably very good for the market. neil: all right. guys, don't go anywhere. have you back in a couple of segments, meantime here you're been probably hearing a lot of muses coming out of the cdc the
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idea that a double masking thing is a good idea. that this idea we're going to get over this anytime soon is probably premature. and a separate report that has it out of j&j it's very likely people are going to have to get vaccines every year, kind of akin to way we treat the flu. are you ready for that? after this. ♪ living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause.
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year in montgomery county, maryland. they are trying a phased approach. the cdc director says students can go back to school and teachers do not need to be vaccinated to do it. this part of maryland will do a phased in approach on march 1st to get kids into school. across the nation some school systems are doing it successfully. private schools in the maryland area reopened successfully. the cdc will release science based guidelines we understand early as today. it may, may not include the need for teachers to be vaccinated. the white house trying to walk a line on this one. listen. >> his goal that he set to have the majority of schools, more than 50% open by day 100 of his presidency. and that means some teaching in classrooms. so at least one day a week, hopefully it is more. it is as much as safe in each school and local district.
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reporter: the press secretary saying today it depends district by district when they should reopen. the biden administration facing a number of challenges, one, satisfy the teachers unions, that supported the president, actually get kids safely back to school, three, change the mind-set candidate biden set up, saying go back to school could cause a massive spread of the coronavirus. most state governors are starting to come on the reopening train too, listen. >> this can be done safely with safety protocals and a strategy to keep our students and our teachers and our support staff say. this is why we're strongly encouraging districts provide as much face to face learning as possible, because it is just crucial for the success of our kids. reporter: that is governor whitmer from michigan. so private schools have done it successfully. some school systems across the country have done it successfully. so there is a blueprint to do
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this. back to you. neil: all right. edward, thank you very, very much, edward lawrence following a you will of that. again those guidelines coming later today if and when, how to open schools. some have extended they're open if they're one day a week looking at kids in person class activities. i don't know if my next guest agrees with that, but congressman mark green of tennessee with us right now. a physician by training i should say so he knows of what he speaks. congressman, if it comes down to one day a week being, schools open, is that open to you? >> well, thanks for having me on the show, neil. any amount is better than nothing but if you think of the millions of children who get their behavioral health counseling at school, many other resources, health care through the school nurse programs, it is absolutely hurting children to have them out of schools. i had a great conversation with dr. redfield back in august when he said it hurts children to
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keep them out of school and yet you know, you have many of these states that haven't done so. here in tennessee we've done everything we can to be open. the issue becomes a supply of school bus drivers and substitute teachers but the challenges are being met here. and there is no excuse for it not to be happening elsewhere. neil: you know, congressman, here i want to tap the physician side of your fine brain that is the j&j ceo talking about the possibility that a lot of people are going to have to look at covid as like the equivalent of the flu. that you will need to get shots every year. what do you think of that, you know, this is an annual event? that we just have to build into our medical preparations, every year? >> well it's a great question that we don't know the answer to yet, neil. if you look at the length of data that we have, we just don't have, you know, 10-year, 20-year studies how effective the
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vaccine will be over time. we know ones that have been repeated on patients who got vaccinated early in the trials are still holding. so that's good. i don't know about j&j's vaccine itself. i know its efficacy a little lower. still very, very good, usable as approach. maybe their data is showing something different, i don't know. i have to go look at data. it is just an answer we can't give right now because we don't know long term what it is going to look like. neil: you know, we were talking about the cdc a little earlier, congressman, and they're weighing into the whole double mask thing and arguing that it could slow the spread of the virus, might be a good idea. where are you on that? >> so the prospeck testify studies that i have seen -- prospecktive studies are ones you want to rely on there is still conflicting data. i look to see the study they're
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using, look for things like selection bias, as a good clinician to look at the study to make sure the study is valid. what i'm sighing so far is conflicting data. "annals of internal medicine," gave people a mask, half the group had masks, half didn't have masks, the mask did not make a difference. that was 6,000 patients. the sample side was huge. so the confidence in that study can be pretty high. there is also a meta-analysis which took 74 different studies and kind of combined them statistically the lancet, showed low confidence that masks made a difference there are conflicting studies which some say it does help. we have to keep looking at it, get real data that doesn't have selection bias and other types of bias. neil: congressman mark green, thank you very, very much. good seeing you again. >> thank you. have a good day.
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neil: you too, doctor. meantime here you probably heard the big board has a big stink with the state of new york, if it even thinks imposing transfer stock sales tax. now the state is arguing, and others that are kicking this idea around that it could raise a whole lot of money but the new york stock exchange chairman said go ahead and try. we'll just move. after this. ♪
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♪. neil: we always tell you about how those of government, no matter level, creative coming up with ways to create money. not so much, maybe limit all the spending, so you don't need to raise all of that money. having said that, there is a bill introduced in albany.
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this has been teased before. they want to get a wall street transaction tax. transfer tax. would be only pennies of trade. over the course of years a billions of dollars, that new york could use. new york governor cuomo not keen on that, would chase away businesses including the new york stock exchange. as if to illustrate the report, the ceo said go ahead try that, we might have to move to safer and lower tax confines including florida, texas, all of that you have seen play out before. scott shellady, danielle shea back with us. what do you make of what she is saying? just do it, watch what we do, what do you think? >> i don't know about you, neil, but i'm actually shocked that these people think they have got leverage. you know maybe they're just so old they think those exchanges are still occupied by big dudes
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wearing a cow jacket yelling and screaming all day but that has gone the way of buggy whip, okay? we're in technological situations where those are tech companies and the tech company has the leverage. they should turn around to the legislatures, actually we deserve a break or we're going to leave it, will be unplugging a bunch of servers on friday morning, plugging them back in on monday morning, friday night, monday morning, all of sudden we have the miami stock exchanges, or dallas exchange. we've been threatened in chicago all the time of transaction taxes here, but literally moving servers, not men anymore. it is a technology company. they don't have the leverage they think. i would love to see them try because they would be gone in a new york minute. neil: what do you think, danielle? >> i completely agree with scott. i mean i think this is something that the pandemic, has, it is something the pandemic has
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started and it is something taxes are going to continue. when the pandemic began, even myself, way i was going to new york almost every other week and i haven't been to new york in a year. the way people work has completely changed. the new york stock exchange, the nasdaq, they know in a second they can move business to texas. let me tell you, neil, so many companies coming to texas right now. we're absolutely exploding in austin. governor abbott has come out many times, he has talks with elon musk as far as spacex is concerned and tesla, he has said, come to texas, we'll not treat you like the governors in california and new york do. and for that reason, well, i really hope they come this direction. neil: all right. we'll see how that plays out. guys i want to switch gears a little. game stop seems to be stablizing
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a little bit. there is whipsawing movement in the stock has gotten as close you can get to $500, 55 neck of the woods. there are a lot of folks looking at this wondering where it goes from here. what do you think, scott? i have a sense this drama ain't done. a lot of people are saying, see, problem solved, we can move on. i don't know about that. what about you? >> well i mean definitely we've got retail investors that definitely got hurt. i heard stories of guy taking $10,000 of iras or retirement accounts to trade this thing. ultimately when you have a managed entry that is happy, right? managed entries are fun as price continues to rise. managed exits are ugly and that's the problem here. and we've got retail investors that have protections. arguably those protections were written a while ago, things have changed, information flow has changed, access to exchange has changed. maybe we need to look at
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something like that. the market did its job, some of the short hedge funds were taking advantage of the situation so they needed to be spanked. if you want to start playing that game, neil, there is a lot of things you need to know before you get into it. like shut your trading machine down. a lot of people didn't know that could be the case. a lot of people didn't know exchanges have limits on these things. the way things changed as of late. retail protections might need to be changed a little bit. ultimately at the end of the day. hedge funds lost money. they went home. everybody buying stock on way down, those are retail investors, they ended up losing money. we heard a lot of stories already. we have to get regulations in line with time instead of way they are now. i think they're a little a antiquated. neil: regulations are not coming, i could be wrong, danielle, the situation for washington to sit this out is little extreme, what do you think? >> i would actually disagree on
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this one. i don't think we should add anymore regulation here. we have retail traders that were wanting to buy. you have hedge funds wanting to short. that is what makes a market. neil: i fully agree. i just think it is going to happen. i think the cure could be a whole lot worse than the disease but go ahead. >> i agree with you. i think there is probably something coming down the pipeline but i mean, for me personally i would just let it happen. the only thing i would point out here is that the amount of short interest in gamestop, i mean, that is something that maybe we could look at because when you have hedge funds that are piling in to a ticker to such an extreme level there are really not even more shares left to short? i mean for me that would be something to look at. neil: yeah. 140% i believe at its height. >> yes. neil: scott, danielle, thank you both very, very much i promised you we would continue monitoring
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what is happening in washington with the second day of the impeachment trial going on. jamie raskin, the house impeachment manager, the mob got so organized they were sent there by president of the united states. he told them to fight like hell and they brought us hell that day. so far this evidence that was going to be irrefutable, more than we knew, not presented itself. they're relying on video in most cases here. they say they have other tricks up their sleeve, including undeniable reports that then president trump egged them on. we shall see. ♪.
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♪. neil: all right. this this mass move to electric vehicles, all the rest, that is presumably the good news. here's the bad news. we're really going to be playing into china's hands right now. because it dominates all the
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means by which those electric vehicles ultimately work. jeff flock following it all from chicago. jeff? reporter: just when we got energy independence, neil, and control you know the oil and gas to go into our gas-powered cars, if we go to evs, who controls those means? at the moment it seems ton china. take a look at the numbers on there, in terms of battery manufacturing. the batteries go into the evs, we make the cars here, but the batteries, 75% of them, if you look at the numbers are made now in china. u.s. makes only about 8%. europe about the same number. here is a bigger problem. even the raw materials going into making those batteries, a lot of that raw material, lion's share in some cases also comes from china. for example, graphite. graph fight is a major component of batteries. sip threat tick graphite, if you look at those numbers, half the
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synthetic graphite is made in in china. 20% in u.s. and less in europe. gm now, as you may know, that big lordstown, lordstown manufacturing plant, they're building a whole new plant in lordstown, to make batteries. 30 football fields i think it is as big as it is. it is under construction. should be coming online next year. they will make a lot of batteries there. tesla as you know has a big gigafactory in reno, near reno, in evidence. nevada. it seems where we're headed now, neil, whether we like it or not. just as we got to the point, hey, we don't have to worry about foreign powers controlling our oil, now we have to worry about maybe potential unfriendly controlling the means by which
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our evs would be made. we need to work on that. yes? neil: someone put it, you put it a little nicer. would you be rather at the mercy of the middle east or china? pick your poison. jeff flock, great job as always. even i understand what is at stake. jeff on those latest developments. by the way we're up to 14 states attorney generals right now, that have serious, serious issues with joe biden closing down keystone and his attack on fossil fuels, on conventional energy, touch on something jeff was reviewing here. leslie rutledge, arkansas attorney general among those reviewing options to her, and her colleagues. thank you for coming. >> thank you. neil: what -- what push are you making here to get the president to change his mind. >> well, thank you, neil. this is important to arkansas, it is important to all of these states and across the country because by president biden
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putting the keystone pipeline on its deathbed is only putting jobs on their deathbed. president biden will be known as job killing joe. keystone pipeline is critical to arkansans. nearly 500 arc kansans will lose their job because of joe biden decision to kill the keystone pipeline. he is doing that on a hope and prayer there will be green new jobs in place. we can't rely on hope and a pray. we have to rely on low cost energy. america being energy independent, those sort of jobs that impact economic development across arkansas, across montana, across the united states. neil: john kerry, who is their climate envoy, czar, whatever, has said, that they're going to be a lot of jobs in just solar power. a lot of those folks who were displaced in traditional energy, like what is happening in your state, can look forward to being involved in solar panel
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installation, manufacturing, all of that. i think there are whole different kind of skill set. what do you think of that? >> i think hypocrisy of someone like john kerry making those statements, was making them from the private jets using that crude oil, that perhaps had been blowing through the keystone pipeline, or intended to flow through the keystone pipeline? we have to go back to being energy independent, taking care of good-paying jobs for arkansans, montana, louisiana, these folks are jobs at risk. i beg to differ with john kerry on this issue. neil: all right, 14 all together, including yourself, attorney general. do you envision more joining? >> we hope so. we're certainly reaching out right now to the republicans attorneys general who signed this letter to president biden i would encourage my colleagues from across the aisle to join this on behalf of citizens of their state to again insure that
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president biden takes a long look at this bad decision. hopefully reverses it. if note, we are certainly looking at taking legal action against this administration to again protect the american energy independence, to protect the jobs that are being killed and our respective states and protect the american worker and the american pocketbook and the american way of life. neil: arkansas attorney general leslie rutledge, thank you very much, attorney general, please keep us posted on all of this. >> thank you, neil. neil: by the way i want to keep you abreast of some other washington developments besides impeachment we're following, including something hillary vaughn passed from the biden administration push for stimulus checks for illegal immigrants who file taxes that is not something the biden administration is supporting at least at this juncture, at least with this stimulus plan, not yet anyway. stay with us. ♪
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♪. neil: all right.
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it made a big deal for bitcoin invest doors when we've got word that tesla had bought 1 1/2 billion dollars of the digital currency. now talk, that it could really get moving if apple were to do the same. cryptocurrency investing for dummies. perfect title for me to get a handle what is going on here. i'm told it would make a big deal if apple did nothing more than help you find a place to buy or sell this type of stuff, to say nothing about the ease of use getting it, getting into it. what do you make of that? how significant would a move like that be for anything regarding cryptocurrency? >> yeah. absolutely. so, what's happening right now with apple, everybody is speculating that will be like the clearing next move from apple to get into cryptocurrencies either offering cryptocurrencies transactions or maybe buying bitcoins. one thing about this kind of move we're seeing right now,
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also dogecoin, gamestop, everything happening in the markets right now, there is a lot of hype. if apple getting into it will only add on to the hype that will unfortunately lead into another bubble. we're already in a bubble. that will add on to the bubble. probably push apple stocks. obviously push apple stocks, bitcoin break above the $50,000 resistance level. as a natural market cycle, a crash will be inevitable after this. so i'm not saving this to be a fear-mongerrer, but that will be naturally the next step for the markets if it us so hyped up right now. neil: i'm just wondering if apple gets involved or others get involved and this would make potentially the united states overnight a leader, certainly in crypto assets, wouldn't that in
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of itself make this go mainstream what has been deemed a fringe investment? it is even hard to buy right now, depending where you go, wouldn't that kind of smooth that out and it becomes less hysterical, more an alternative investment? how do you see it? >> long term 100%. so we knew that this was coming. we were waiting patiently doing what we call the crypto winter, when nobody was really giving any room to bitcoin. it was called a scam right after the bubble burst last name in 2017. and big players getting involved like paypal did, now tesla, getting involved, more and more of these guys getting involved, it will definitely in the long run because less people will get less fearful of this industry because big names are behind it and of course i think it will be great for the united states. i believe the u.s. was kind of falling behind china and russia at some point but now they're
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kind of catching up and that's great but industry, the reason why i'm passionate about cryptocurrency because it is decentralized. so no matter, i'm hoping no matter how many of these big boys get behind bitcoin, it will remain decentralized. that is the beauty of it. it doesn't belong to a send send a centralized entity. neil: that is the appeal and draw back. crypto investing for dummies. governor cuomo announced arenas in the state will be allowed to reeach on 10% capacity beginning with barclay center on february 23rd. es falling. but i've seen centuries of rises and falls.
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that he should not. also following on the whole bitcoin phenomenon and how washington feels about that. we've gotten into a a little bit, it's easing off a little bit but not a lot that major talk that companies such as tesla could have a thing to say or two about how legit it's become as a real alternative investment here that's not necessarily hard to find. we're on top of that. welcome, everybody, i'm neil cavuto. this is hour two of "coast to coast." let's go to kristin fisher on the great wait right now not just for kids, but their parents on exactly how schools can safely reopen and they can safely get back to some sense of normalcy. kristin, what are you hearing? >> reporter: remember back in december when president biden promised to try to open most k-8 schools by the end of his first 100 days? well, now the white house is essentially saying that the very definition of what it means for
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reopening schools is kind of up for debate. you had yesterday the white house press secretary i saying that what reopening means is reopening schools to in-class learning at least one day a week, hopefully more, but one day a week. that is a word that she used, a phrase that she used over and over. and yesterday, just moments ago in the briefing, she kind of doubled down on that and said that one day a week goal is what president biden meant when he made that promise back in december. >> again, the president made a a -- set a goal of reopening the majority of schools within a hundred days, and when you asked what that meant, i answered the question. so we're -- that is not the ceiling, that is the bar we're trying to leap over and exceed. >> reporter: so to be very clear here, the definition of reopening, according to the white house, is at least one day a week, hopefully more. that is still going to place a very big burden on parents who
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are struggling to work or return to work while overseeing their children's education and on students who are having a tough time with virtual learning. the white house says they are committed to reopening safely, but this goal is contingent on congress passing that relief bill. it also depends on new cdc guidance on how schools can safely reopen and if vaccinating teachers is a prerequisite. >> you have to have fewer people in the classroom, you have to have ventilation systems that have been reworked. our cdc commissioner is going to be coming out with science-based judgment within, i think as early as wednesday, to lay out what the minimum requirements are. >> reporter: so the president said as early as wednesday. that, of course, would bed today. the cdc has said those new guidelines would come out sometime this week but, neil, members of the new administration's coronavirus task force, they held a briefing this morning, 11 a.m., with no plans. they did not say anything else about when these new guidelines
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would come out. so millions of students, teachers, parents around the country continue to without for in this guidance from the cdc on when their kids can finally get back to in-person learning. neil and they'll be lucky if it's just one day a week then. i don't remember that being part of the promise. >> reporter: that really is the sticking point. the president said his goal is reopening schools, most k-8 schools, at the end of his first 100 days, i don't know if a lot of parents around the country interpreted that the mean as one day a week for in-person learning. now, jen psaki, she just came out and said, well, we never really defined it, so that's what i was doing. you asked me, and i defined it yesterday derek. [laughter] but i think the vast majority of people when you hear a reopening of schools, of classrooms, you don't think one day a week, right? neil: yeah. that's a lawyerly response.
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we didn't not say one day a week. >> reporter: right. neil: kristin fisher at the white house. in the meantime, we're keeping track of the $1.9 trillion stimulus package, it is the way the saw sausage is made that can sometimes raise eyebrows. not only to squeeze the push in the hike to a minimum wage to $15, also providing relief in checks to illegal immigrants. now, the administration supposedly is at odds with some progressives right now and congress pushing just that. hillary vaughn following the fast-of moving developments. what can you tell us? >> reporter: hi, neil. democrats are divided right now on whether undocumented immigrants or their children should receive stimulus checks. last week eight democratic senators sided with the republican amendment that would essentially ban any illegal immigrant or their child from receiving a check. but that amendment in the end was killed and left out of the version that passed the senate and is was sent about to the
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house. that package is what house lawmakers are marking up today. and in a mark-up hearing, one democratic congresswoman this morning pitched checks for undocumented people as a selling point. >> this bill expands -- 2.2 million american children with social security numbers born to immigrant parents are now eligible for these payments. this bill insures that joint filers with mixed immigration status are mom -- not discriminated against. >> reporter: giving checks to mixed-status households would impact an estimated 16.7 million people who lived in mixed-status homes. the white house confirms they support some households with undocumented immigrants getting taxpayer-funded relief. >> does president biden support acceptabling stimulus benefits
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to undocumented immigrants? >> again, i don't -- if somebody has a social security number like a child or a spouse, then they would be eligible. but he supports sending benefits to people who are eligible as part of his proposal. >> reporter: but some progressives do not think that goes far enough and think any illegal immigrant who pays taxes even using an individual taxpayer identification number should get a stimulus check. this from the progress give group -- progressive group community of change saying, quote: all taxpayers should be eligible for stimulus checks in the covid relief package. this should not be up for debate. and, neil, i reached out to the white house just moments ago to ask them where they draw the line on what unto be united -- undocumented immigrants should be able to get this check, and they told me they draw the line with a social security number. if there are up documented parents that do use that icin to pay taxes but no child with a social security number, then the white house does not support
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them getting any type of relief check, and that is a direct denial of what progressives are wanting to hear from the white house. neil? neil: yeah, and they won't like that. as hillary pointed out here, are you noticing a trend here right mow? i'm not calling it a fight or a ruckus or anything approaching a civil war among those progressives and the president of the united states, but just like the issue to raise the minimum wage to $15 and joe biden wasn't keen on necessarily forcing that through to get his $1.9 trillion stimulus and a key house committee just voted to say, well, it should be part of it and they're pushing just that, now this move to provide checks to illegal immigrants and the like, there is a little push back and forth on this. kristining soltis anderson, fox news contributor, also jared levy with us.
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jared, i don't think i'm wrongly following these little, you know, cookie crumbs here on where this is going. because it's the first time that the prime minister over the span of two -- the president over the span of two days now has made a distinction between what the progressives want and what he wants in that package. he's looking at that package getting approved, seems to be saying go too far on this and it won't get approved. what do you think of the way this is going? >> yeah, i think there's got to be a balance. i think the line of using the social security number is a fair one. you know, but remember you got to have every democrat sign on. i do think even the progressives though, knowing that, you know, this next stimulus package could potentially be a huge boon for americans and for their political agenda, it makes sense to just let it go, right? i mean, i don't think they're going to get the undocumented immigrant check. the one thing interesting too about this finding, if you look at the package being proposed
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right now, they're saying also they're going to give $1400 to dependents over the age of 7. so if you're 18 -- 17. if you're 18 and living in your parent' basement, you could potentially get that $1400 too. there's a lot of generosity -- [laughter] and a lot of, you know, sort of what i would call overspend and perhaps not the best use of money already happening. hopefully it doesn't go the way of the up documented immigrant -- undocumented. not that i'm against them prospering, but in terms of stimulus, i think americans need the help more badly. neil: it's interesting, i tend to think these battles notwithstanding -- i wouldn't call them battles, but differences, let's put it that way -- between the extreme left in the democratic party expect president. and i'm getting a sense right now that wall street is erring on the side of we're quite fine
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with a huge stimulus package, maybe with some of these other features in it, the bigger the better. so even if they pop up in the here, i'm wondering how wall street would deal with that. would they be rejoicing that we got more stimulus and they love stimulus? that's the new thing, or will they be concerned about some of these other provisions that sneak in there and are secret bombs that could go off years from now? >> -- [inaudible] response when it comes to many business leaders, those who have visited the white house, sat down with the president and his team walking away not in love with some of the things that are just less popular. particularly among business owners, things like the minimum wage, etc. i think for the business community, they don't mind big spending. they do mind big policy changes that might affect their bottom line negatively. neil: well, the president was, to kristin's point, jared, meeting with a lot of these guys, the head of jpmorgan chase, obviously, i could go on
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and on, walmart and gap ceos, all these others. they apparently didn't bring up the tax hike. i don't know what's true or not, i wasn't there at the meeting. they seem to be preparing themselves for that and a corporate rate that would go from 21% to 28%, and they, by and large, seem to support the stimulus he's looking at. is there any inconsistency there? >> i think, first of all, there's a lot of moving parts right now, and most businesses, even the best -- the largest with the best models out there really can't figure out what this is going to look like two, three years down the road. we know that there are theoretical stealth tax hikes happening anyway, right, as the tax cuts and jobs act sort of just expire, right? that in and of itself is a theoretical tax hike. and then -- yeah, we welcome stimulus, right? that means they're going to get spending, there's going to be more sort of digital spending, less staple spending.
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businesses like that. but i don't know if these guys are quite yet modeled, nor do they want to bring up or start talking about tax hikes, right? it's kind of like that secret you put out there -- [laughter] into the universe and it comes back to you. i think it's a question of modeling. right now they're okay with the stimulus are. that makes sense. we've got those inflationary pressures, but we're a world of today. they're living for the moment. right now in the moment they want the spending. they want the spending. neil: yeah. and they can live with, kristin, the tax hikes to come? i don't see anything dissuading the president from pushing that back or canceling it. i think it's still on. to me, it looks like it's still going to happen. what do you think? >> something that * me today was the u.s. chamber of commerce which represents the major community voices in the united states coming out and endorsing neera tanden who's been nominated to head up cbo --
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excuse me, part of the biden added managers. and she's come out -- administration. and she's come out in favor of things like, yes, we need to raise the corporate tax rate. that's an interesting signal that actually some corporate interests are trying to brace for this by still making nice9 with the biden administration where they can. neil: all right, guys, don't go anywhere, we're going to get you back later. kristin towned on it, we'll be talking to suzanne clark, the first woman to head the chamber of commerce in more than a century. that's incredible. what she's planning and how she is navigating these very different political battles. ♪ ♪ the holidays weren't exactly smooth sledding this year, eh santa? no, but we came through smelling of mistletoe. the now platform lets us identify problems before they became problems.
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♪ >> the evidence will show you that ex-president trump was no innocent bystander. the evidence will show that he clearly incited the january 6th insurrection. neil: all right. as they a made that irrefutable, the new evidence that they promised was going to be presented today has, indeed, been promised. jamie raskin's argument, that's the lead house impeachment manager, is sticking and could change minds. tom dupree with us, former deputy assistant attorney general. tom, or i know we're just
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getting into this now, but what do you think of the way it's gone? >> well, i think so far the democrats, neil, are trying to build a case by putting the president's remarks to the rally on january 6th in context. i think they anticipate that the president's defense will probably be, well, he didn't literally mean to intend to start a riot, he wasn't literally saying fight like hell, he just wanted to encourage people to, you know, exercise legal options. and so i think the democrats are trying to head that you off. they're trying to illustrate to the senators what he meant or what they think he meant when he poke the words that he did on the 6th. neil: now, this goes beyond a legal question, tom, but mitch mcconnell urging senates to essentially vote their conscience, and it occurs at a time when a couple of those senators will be leaving. they're not running for election. could you see that maybe opening the door to more than just a few republicans voting to convict? >> yeah.
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my sense, neil, is that senator mcconnell spoke very deliberately when he described this as a vote of conscience, and i to think he was trying to leave the door open to give republicans the freedom to vote to convict president trump. on the other hand, it seems to me very difficult to envision a world in which they can pick up the 11 votes they need. we saw senator cassidy break on the constitutional question, but they're still going to need another 10 or 111 votes to move -- 11 votes to move, and it's hard to see that changing absent some dramatic occurrence. neil: you know, you're the lawyer, but as you know, i read a prompter, tom, so i think i qualify. i'm telling you the president's lawyers, i thought, did an abysmal job yesterday. you know, as far as getting a message and a clear, coherent one at that, arguing in the president's defense, i don't think they did it. i don't think they helped their client. of. >> neil, it was one of the worst lawyering performances i've ever seen. it lacked intellectual rigor,
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coheres, it lacked pretty much everything you would expect. the president is not well served by this team of lawyers. but i think many of the senators they felt have made their minds up even before this proceeding started, so this may not be one of those situations where bad lawyering could make a difference, although i gotta say -- [laughter] they really are pushing the envelope here, and maybe some more votes will move before it's over. neil: even a conviction doesn't automatically mean they can get the president to never run for office again. that's a separate issue, right >> it is a separate issue, but if they can reach the two-thirds vote necessary to convict, it seems to me like a pretty sure thing that they would be able to get their majority, the 51 votes they need, to impose the ban on running for future office. i think the big hurdle for the democrats is just getting that two-thirds vote to convict. it's an uphill battle based on what people have said publicly.
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if they get over that, i suspect suspension would be on the table, but that's a pretty high obstacle. neil: don't you think there are a number of republicans who would secretly want that outcome? i mean, to remove the potential for donald trump to run for office again? he could be up -- influential, wouldn't they secretly want -- isn't that a potential hidden vote there that we're not appreciating? >> well, i think it's true that probably a majority of senators envision themselves as presidents in waiting and would like nothing more than to take their leading rival off the table. but, of course, this is a public vote. it seems to me if this were a private, secret ballot, maybe some people would eliminate a rival. but given that this is a public vote, everyone's going to know whether they vote up or down on president trump, my guess is that people even if they'd like in their heart of hearts to get him off the table, my guess is
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they would probably vote the way they're publicly indicating they will. neil: tom dupree, stick to this law thing. you show great promise. [laughter] >> thank you. neil: thank you, my friend, very much. a couple of things we are following as well. i don't know if you follow twitter, it came out yesterday with revenues and earnings that were better than expected, but the guidance going forward, it wasn't lousy, but it seemed like they really didn't know the headwinds, what could be happening this year and maybe the quarters to come. and i thought to myself, self, a big thing you're leaving out is donald trump. you took him off. will all that go away if you put him back on? ♪ ♪ i've got the power. ♪ ♪ at t-mobile, we have a plan built just for customers 55 and up.
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neil: all right, twitter might be sayg life goes on without donald trump, but looking forward you have to wonder whether it could solve a a lot of its problems bringing the foreman president back online. -- former president back online. susan li taking a look at twitter and also uber and the earnings world. >> so much more. hey, neil. twitter confirming this morning they will permanently ban president trump even if he runs again. you heard ceo jack dorsey last night saying that twitter's business is bigger than just one user, and twitter's stock rallied after daily active users, the number of people visiting the platform each day, went up by 5 million to 192 million at the end of last year, and business is doing so well, they will expand head counts this year by over 20%. on deck tonight we have uber set to report an improvement when it comes to ride hailing. still losing money, but they'll be bringing forth their timeline
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to actually start making money, profitability, as listed last night. they say -- lyft will be profitable in the third quarter, but that's a pure play meaning all they do is ride hailing. uber's probably better positioned since they have food delivery to offset the declines. should be interesting. another hot unicorn to go public this year, the valuation above $50 billion or more possibly as early as september, but that might be pushed to a later date, possibly next year according to bloomberg. so if -- [inaudible] goes at 50 billion plus. isn't that incredible? amazons has ordered 100,000 of their vans, so 10,000 on the road next year. and colin kaepernick is getting into the hot trend, raising $250 million for a new social justice spac. and it seems like everybody has a spac these days, a blank check
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company. last year more than $75 billion were raised by over 200 spacs, more than quintupling the year before. but, neil, i have to caution investors and viewers because it's great to have a name like colin kaepernick or a-rod and even shaquille o'neal, but have you looked at how much they take off the top? it's kind of like a hedge fund where they take 20% right off without any proven track record. neil: yeah. they make hedge funds look like, you know, the vatican. [laughter] susan li -- >> i wouldn't go that far, but -- neil: that's easy money there. thank you very much, susan. want to go to suzanne clark, she's a big deal, the first time the u.s. chamber of commerce, the ceo is a woman. that broke all sorts of precedent. ms. clark, very good to have you. congratulations. >> thank you so much. i appreciate it. neil: so what's on your agenda the? you've got a new administration
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in town, you've got, you know, an impeachment trial going on as we speak. the chamber's priorities have tended to be in the past on free trade and all of that. your predecessor, of course, you know, challenged the trump administration on that and some of these trade deals. what will be your focus? >> well, thanks for the opportunity. it's a great question, and i think it's really twofold. number one, the urgent work we have before us, right? we've got to get a pandemic relief bill done. we've got industries that have been punched in the stomach, we've got families that are hurting, schools that can't reopen. and so we would like to see a bipartisan compromise where they come together. there's a lot of agreement in the room, let's get this done, let's get it done fast. let's also then turn to infrastructure, immigration -- oh, go ahead. neil: no, no, i was just saying on this stimulus deal, you're okay with the broad parameters that the biden add -- add fashion has laid out, $1.9 trillion, it could have a $15
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minimum wage that seems unlikely, but you never know. as you know, it's cleared a house committee of to have that included. would you be okay with that? >> no, we don't support a $15 minimum wage. we're hopeful that that's not in the final package. this should be a package that's about helping american families right now. this should be about a package that's giving targeted, temporary, timely relief to the people that are most hurting. neil: so when you look at the difference dealing with a democratic administration and some of its priorities, i know it comes down to we need stimulus. i think you sported that. you supported that. is that feature, if the higher wage component weren't this there, if the checks to illegals weren't in there, would the chamber be support this stimulus plan? >> well, it's hard to say what we're supporting in the abstract the, right? we like where the bipartisan agreement is right now. more funding for the vaccine
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rollout, getting schools and childcare centers open as long as that money's really going to places that are open, by the wayment getting the next round of ppp loans in for companies. there's a lot there we can agree on and get behind. you're right that the dell's going to be in the details, but we're hopeful that leaders are going to do what's right for the american business community and the families that they support. neil: when you look at the land scape now -- landscape now and business now, of course, markets have been racing in and out of all-time highs. all the averages seem to take turns hitting records. some were worried that they're priced for perfection. i know mr. donahue in the past refused to weigh in on the markets and what they're doing and why they're doing it, but is part of you concerned that it's gotten frothy and that that could backfire on businesses that use these gains really as currency to advance and expand? that's been the wind at their
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back. >> you know, i'm certain that i can't tell our sophisticated members how they should or shouldn't use the market, but i would say that we are concerned about what looks like a k-shaped recovery. you do have people at the top and companies at the top and companies in the right industries that are doing really well, but you have a lot of people still being left behind. and, you know, as we look at it, the economy's an ecosystem. small businesses are the customers and vendors and suppliers and big businesses -- small businesses employ a ap all lot of -- awful lot of consumers. we do see this ecosystem coming together, and maybe we're a little bit less worried about the markets than we are what do we do about the downside of this k to make sure that the economic recovery is real. because it is an ecosystem at the end end of the day, as you well know. neil: you know, ms. clark, it could just be my read, and i could be wrong, but i got the sense especially in the last half of the trump administration that there was friction between the chamber and the white house. and when i started seeing that a
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lot of business titans even facing the possibility of higher taxes under a president biden were more inclined to welcome that than welcome another four years of donald trump. what donald trump had done on trade deals and then sort of forcing them through and alienating our neighbors and ail ail -- alienating some of our friends, that it simply had gotten too volatile for them to condone and accept. and mr. donahue had a number of run-ins on these issues. did you share that when you were his number two? >> you know, i think if you look at the 108-year history of the chamber, which might be a little dull and long, but it does have a theme which is we've worked with every single administration in that time. and depending on the administration, there's a bunch of stuff we support and a bunch of stuff we oppose, right in our job is to show up every day and help job creators and american
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countries and help the government create a condition where they can thrive. that's in our dna. so the trump administration, we were really sporting what they did can be supporting what they did on taxes and getting rid of onerous regulations, and we were opposing them on the tariffs and trade issues that you just brought up. now you have a democratic administration, and of some of those issues might flop. i think what's important is we just show up every day and do what our members need us to do to help families and not be swayed by the rhetoric of the moment. we just have to stay on course, have a true north. neil: now, obviously, the more revenues coming into the chamber thanks to aggressive recruiting efforts, but the rap against the chamber, i'm sure you're aware, ms. clark, is it's too beholden to corporate giants, less so to the technology and the new, promising investment vehicles that are all the rage, that you're a dinosaur. not you specific delay, but that
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the -- specifically, but that the chamber is. what do you make of that view if you hope to change the perception of that? >> i have to decide how much i care about the perception of that versus the reality which is we have so many great technology companies, the biggal warts that you would imagine -- stalwarts and the little, tiny start-ups that are going to be the giants of tomorrow. i think we've been good at making sure we're representing all of industry whether it's cutting edge, tech, gig, whatever it is or the traditional stalwarts, and we'll keep that up. i mean, i think you're right that it's important that we have a value proposition that helps every industry and every company, and that's my job, and i'll make sure it's true. neil: so real quickly, ms. clark, there is talk that the biden administration might jump the trade deal that donald trump -- junk the trade deal that donald trump was finishing up with the chinese. if he chooses to take that path and all but start from scratch, what would be the chamber's view on that? >> again, you know this very
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well, or that china's a complicated issue, right? it's a big market, it's important for a lot of our members. that market creates a lot of jobs here at home. it's an important customer for the united states and for american business, and that's important. it's also laden with geopolitical risk and some strategic risk, and so it's a super complicated issue. in our view, we want the biden administration to keep talking, stay tough and pursue a multilateral approach that might bring some more pressure there on the top. neil: all right. ms. clark, i wish you well. suzanne clark, the u.s. chamber of commerce incoming ceo. thank you for taking the time. we enjoyed having you. >> thank you for your time. neil: all right. in the meantime, want to bring you up-to-date on the battle over tiktok. remember that in remember the sale of it was inevident to walmart and oracle? well, that's gone so what happens now? gasparino after this. ♪ -- melody in my head. ♪ every day, got myipod
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neil: all right, charlie gasparino wih us on tiktok and what happens right now, if and when it ever gets sold. charlie, what are you hearing? >> that's the old tiktok-oracle deal. remember that story from a time long, long ago? feels like 30 news cycles ago when tiktok's future was in doubt. there was a potential that microsoft was going to buy it. that deal gets killed. we broke that story. then oracle came. not quite a purchase, but a joint venture. it was very controversial at the time because steve mnuchin was negotiating the deal with people at oracle including larry ellison, a trump ally, and oracle could have made a lot of money true this arrangement that was going on. what we reported monday, neil, is essentially what's been
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confirmed by the biden administration. blake burman just sent a note around regarding jen psaki, what she said about this latest story in the "wall street journal," which suggests that the deal is going to be killed or is killed. what she said is, essentially, supporting what we wrote on monday, what i reported on monday, that its future is highly uncertain. that there is a review going on inside the biden administration, a worry about some of the aspects of the deal. it's not dead, but it is uncertain. and i think jen psaki made that point real clear just a moment ago. so so will this deal happen? i will tell you this, neil, the biden administration is going to make a final decision, i am told, the tiktok-oracle deal, as soon as they figure out or start filling most of those political roles in doj and treasury that are on top of, that make final decisions after the staff of, like, cfius which is the treasury agency looking at this arrangement. after they weigh in, political guys go in. so they're waiting for the
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political roles to be filled before making the final decision on this deal. i would say it does face an uphill9 battle, and here's why. and i reported this a little bit on monday, but i've gotten more detail on this. the biden administration is really wary of the fact that mnuchin, as treasury is secretary, was essentially acting as an investment banker trying to arrange for a deal with a company that's run by one of the, one of president trump's top allies in corporate america, maybe the most vociferous republican in silicon valley, and that would be larry ellison, the chairman of oracle. so that of itself was, is problematic, and that's going to get -- that's going to lead to the review of this whole thing on top of the normal reviews of whether the oracle deal, you know, safeguards the information of users so it doesn't get used by the chinese government which owns tiktok's parent company. but again, as we reported, the path to approval is unclear.
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biden is slow-walking the process getting those political people in place first, and it's been now confirmed by jen psaki, the press secretary, for the new administration. neil, back to you. neil: well, you and i have to know what happened to tiktok, so we know where to send our dance videos, charlie. >> i know. you and me on tiktok is must see short video stuff. neil: that would be a career ender right there. [laughter] charlie gasparino, thank you very, very much, my friend. that's how i associate with that, dance videos. things i could never physically do. we have a lot more coming up. they're on a break in washington, we're told that the democratic house managers are then going to reveal only of these new findings that will make a compelling case that donald trump should, indeed, be convicted and prevented from ever running for any office
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neil: all right. it's the age-old question of the pandemic, right? when will everyone get back to work. well, if salesforce is any indication, there could be maybe some of its workers permanently working from home or permanently phoning in remotely, if you will. and it's not the only one. let's go to kristin soltis anderson on all this, jared levy back with us as well. kristin, what they're saying is that this could go on a while, and for some workers maybe permanently. it's not the first company to indicate that. google has hinted about maintaining a large virtual work force. where do you think this is going, and what are the signs for the economy? >> well, i think the text of this announcement said it would be through august. it wouldn't surprise me if an awful lot of corporations, particularly those very tax-focused, go at least through august in this sort of posture. we've got the biden
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administration saying it's going to be longer before we get to herd immunity, there's also the economic piece. the cost of commercial real estate. do you need of to have offices as large as you do, or can people work at home? i think we are finding as this pandemic goes on that, on one hand, people are able to work remotely, perhaps more efficiently than expected, but there is something lost in terms of personal relationships, being able to collaborate, seeing anemia person. there is something missing when you remove that entirely. it'll be interesting is it just about the health implications, and once that is truly past, do we go back to normal or is normal permanently dead? i think it's too soon to tell. neil if even part of it stays permanently, jared, that is a game-changer for the u.s. economy. businesses maintain their productivity and so did their work staff even with so many of those work staff working remotely. i'm leaving aside, tragically, what restaurants have had to endure and other small businesses that had to be open,
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but i think there's a permanent lifestyle and corporate style adjustment that aren't just temporary. what do you think? >> i've done a lot of research on the topic and, in fact, my data shows that this is a cultural workplace revolution that actually makes sense from what kristin talked about, you know, from a corporate perspective, right? all that cap-x spending goes down, now they've got -- they have a little bit of a lump in the front for technological infrastructure, but i think this goes on for a very long time. this is something that's going to change the way that we work. it won't all be remote, but it'll be about flex time. in fact, salesforce is implementing this indefinitely where they're going to the offer certain employees the option to come in the for a couple daysing, work from home. and i think as mentioned before, this has been a pretty nasty test of our endurance as consumers and as workers. and i think what it shows is the fact that we can get stuff done remotely, but our quality of life matters. and i think corporations are starting to realize that.
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again, there will be certain industries where people come in, but this is going to be big. this is going to be something that's going to last forever, and it's going to change the way that our economy functions, the way the corporations function. and, again, an element of that will be fully remote, but i think it's going to be a blended type of scenario moving forward. and perhaps it makes for happier employees and society. that's the optimist in me. neil: you know, kristin, it's already changed, if you think about it, the way we shop, right? i mean, we're just now to getting it through amazon or deliveries through walmart, a host of other players, but that's something i don't see, you know, changing dramatically. what about you? >> yeah. this is the sort of thing where there have been industries -- for instance, the cosmetics industry. if you were going to choose a new shade of lipstick, you probably wanted to go to a store. i don't know, neil, if this is something that you encounter frequently -- [laughter] but you've got to find out ways how can you sell that product to people online if they can't try it on themselves.
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ways you can develop better e-commerce tools that can let folks try these things out at home. all sorts of industries have had to reach consumers in a new way. i don't know that they're going to take it away once the pandemic is done. so those are other ways in which i think this pandemic may be perm feintly changing big pieces of how our economy works were forkers and -- for workers and for consumers. neil: do you think, you know, jared, the markets are reflecting this? that could be a whole big danger in and of itself, the investment potential much bigger than we factor in now. >> yeah. so i -- if you look, tech has been going bonkers. and everybody's, like, you know, trying to figure out -- obviously, there's a multitude of reasons why, but the big underlying factor that people respect talking about and the big thing that's happening in silicon valley and big tech right now is this move towards cloud. microsoft, google, i mean, you know, amazon, the new leader of amazon ran their cloud business.
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going to be the new leader. so the point of this is they're on to it. they know what's happening. i don't know if they realize the full potential of what things like augmented and virtual reality might play into this and how that affects it, but investors, i think, continue to look to tech. i don't think we know who's going to be the next big thing, you know, but again, the biggest -- neil: it's happening now. jared, thank you. thank you, my friend. i'm being rude, apologize. kristin, thank you very much. dow up 20 points right now. we'll have more after this. ♪ . . you've never been in better hands
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hon? first off, we love each other... ♪. neil: all right. that impeachment trial shortly going to be resuming. we're still waiting for the blockbuster evidence house managers have been touting. never heard it yet. you never know. here is charles payne. charles: neil, nice seeing you my friend. good afternoon, everyone, i'm charles payne this is "making money." breaking right now, major intoday stress are gyrating. they're broadening out as money leaves technology for consumer discretionary names there are jitters as jerome powell set to speak at the new york economic club any moment. how long can the fed remain accommodative when everyone is talking about a spike in inflation? i say the fed is committed to new mandate of social inequality. can they fix that and should they even try? we have powerhouse answering those

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