maria: big thank you to jackie, brian brandenberg. great to be with you guys. >> big weekend at cpac. it will be interesting. >> and we will be watching the markets today to see what happens with treasury. maria: we will follow up next week. have a great weekend. i will see you tonight at 9:00 p.m. eastern and sunday. "varney & co." begins right now. take it away, stu. stuart: good morning. if you have money in the market, i bet when he woke up this way the first thing you did was check futures. you want to know where we going today after the big selloff yesterday. i will tell you, left-hand side of your screen with the dow jones down a fraction, s&p up 18, but look at the nasdaq, big rebound up 1% this morning. that is the one to watch because that's the index as i yesterday's biggest decline.

stocks went down thursday, largely because of a spike in long-term interest rates where are they now practice the yield on the 10 year treasury hit 1.6 come this morning it's back way below 1.5, big retreat on long-term interest rates. how about a stop in the other frenzy stocks as i call it? that they were all over the place yesterday this morning a mixed picture. of the frenzy appears to have dined down a bit except for gamestop which is up 15%. bitcoin which continues its retreat from the $60000 level and this morning its way below 50 grand, 49900 is where it is now. on the show today we will continue our discussion of generational differences in investing, asian baby boomers and newcomer millennial's old and young. they have to learn the same timeless message from the market. what goes up can and will come down. quote dance while you

can do keep a close eye on the exit go. that's all i got to say about that. we have a lot more than that with politics of inclusion, forget it mr. potato head. it's just potato head now. politics of identity in california, stores may be defined as a separate out boys and girls clothes and toys. of the politics of hypocrisy, governor cuomo accused of sexual harassment but democrat women who always set believe that accuser are silent when a democrat is the target. and the politics of the 15-dollar an hour of federal minimum in the senate, not likely to be included in the 1.9 trillion dollar covid relief bill in the left is livid about that, but do we need all that 1.9 trillion? i asked the question that the government reported this morning a huge 10% increase in personal income in january.

then there is this, what on earth is john tapper up to? the bar rescue guy who is now part of the team which decides who goes into space. can you believe that? friday, february 26, "varney & co." is about to begin. ♪♪ stuart: not sure i know that song particularly well, the romantics, what i like about you on going to with bitcoin because that is a serious loser today and indeed for the past week because susan, i think it's down what 15% this week, with the problem? susan: we even went below 45000 earlier this morning, the lowest

price we have seen in two weeks, on track for the worst week in the year for bitcoin and bitcoin prices are down for the same reason stock market has been selling off, higher yield for the money to move higher risk asset like bitcoin and that means the biggest bitcoin-- grayscale the easiest and probably the most popular way to play bitcoin for investors now trading at a discount for actual bitcoin holdings, the first time in four years that's happened to. down about 20% on the weekend at times you have to remember gay scale traded close to met 40% premium this year to the actual underlying bitcoin holdings and kathy wood be grew at the moment recently buying seven and half half million shares of grayscale last week before the soft accelerated but she said yesterday she so believe there's a long way to go , most-- multiple layers of bitcoin to rally from here. stuart: always a true believer. susan: she has to be.

stuart: you do? susan: that's what i like about you. [laughter] stuart: gamestop on the show right now 122, of 12.9%, way up, but wait a minute, i heard and you can confirm this vaccine waters is going to drag the gamestop people in front of a congressional committee? susan: that's right another house financial services congressional hearing march 17, and they will focus on short selling in social media. gamestop is up another 13% today in the free market. we were up over 30% outperforming the rest of the broader market yesterday and read it-- reddit and the platforms buzzing again. the most active option traded on gamestop on thursday the most popular was predicting gamestop would move to make $800 today, seven times where it's trading now so unlikely to

happen, but you have to wonder who is spending this kind of money buying these contracts because in some ways it's like a lottery ticket and we talk about how the stock market is 30% retail driven according to deutsche bank you can expect the trend to continue as they predict $170 billion in the retail trading money to flood the market next year, so that means people have enjoyed their games according to goldman sachs and they are here to stay. stuart: that graphic we had there a moment ago suggests it's 25 to 34 -year-olds. they dominate trading in that particular area. distribution, that's the millennial's right there big-time in the markets. that confirms that, thank you, susan. i went to bring in jonathan hoenig. generational differences

in investing, baby boomers and millennial's what difference between them do perceive and what does it mean for the markets are next to her, i will quote scripture and i think it comes to the market there really is nothing new under the sun, i mean, this attention about reddit craters in the speculation in we saw this 20 years ago in the nasdaq and back them they call them the stows bandit. it was raging bull.com. and it was the internet stocks so we've seen this over and over again , it's a product of cheetah money and a bull market, but i think it's different this time in the sense that trades are free, i mean, 20, 30 years ago you were paying 20, 30, even $50 of that fact that trade is free right now i think it's unique and that's why so many retail investors are now not just trading by daytrading as well. stuart: we have an editorial about that coming up later in the show, but there's a timeless

message for all investors that spans a generation and that is what goes up can and will come down. i will get to that later, but jonathan hold on for second, please, because i went to segue to look at tesla. that stock on my believe susan, is below where it was at the start of the year. it's up today, but down from where it was at the start of the year. why the retreat? it's a big retreat. stuart: look, insist broader stock market selloff and of course momentum plays like tesla is not going to escape unscathed , but we have positive news in that fremont is the main production hub is back up and running at full capacity according to jan mask tweeting that the fremont shut down for two days and restarting yesterday. he said reports we had on thursday, one of the model three production lines in california was shut down because of the

global chip shortage and it's been impacting carmakers including general motors and ford, so tesla is down on the year although it's coming back a little bit , probably below the level where it entered s&p 500 as well. stuart: 696 is the current quote on tesla images below 700. jonathan, come back please. use a momentum plays like tesla may be like apple as well, you say they have stalled. what is that mean and where are they going: my tesla is down 20% and apple 14% from recent highs in these have been where the action has been for so long, stuart the big tech stocks and tesla is suffering not just the fact that it's so-called bitcoin play with the purchase as susan mentioned bitcoin is down for the week, but the fact that it's unique value proposition as a major ev any facture is not so unique anymore as every major automobile maker is in

the ev play. pretty soon-- you see that with ev's right now and i still consider tesla, apple, facebook to be falling. stuart: when i look across the spectrum i see a lot of speculation in stocks like gamestop it for example an enormous speculation in spac, the new ipos coming to the marketplace that's an enormous amount of speculative activity. what happens if these assets are indeed a bubble and burst, then i guess it spreads to the whole market, does that? >> that's part of what we saw yesterday is the correlation. you can see stocks and bonds and gold down and while we have seen speculation frequently as you said biotech over the years, with today's generation has not seen his heart interest rates and higher commodity prices, i mean, unless

you were investing back in the late 1970s, early '80s, stuart, i know you weren't even born, you haven't seen this type of maneuver in her industry and commodity prices so that will be different this time for this generation of investor spirit we haven't seen them before stuart: every generation has to learn the lesson. jonathan hoenig, thank you for joining us. see you soon. futures show the dow jones down about 12 points and a nice gain for the nasdaq. prominent democrats cause to believe all women, this was during justice kavanagh's confirmation hearing. watch this. >> i believe her. >> i found her very credible. >> we are here to show our solidarity. we are here to show our respect for all women who have a case. >> i went to say to the men of this country, just shut up and step up stuart: okay, so why are the same women completely signed

over sexual harassment allegations against governor cuomo of new york? tammy bruce calls it blatant hypocrisy and she's on the show. democrats suffer a major blow is a 15-dollar minimum wage has been ruled out, looks like it's dead peer details coming out. checking futures again. friday morning, closing out the week on the upside for the nasdaq, looks like it at the opening bell. back in a moment. ♪♪

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yesterday's big selloff futures as suggest gamestop when it opens will be sharply higher again, up 9%, but i have to tell you the other frenzy stock as i call it are on the downside. gamestop is. then this, the house will vote on the covid relief bill today in that bill in the house includes the 15-dollar federal minimum wage hike, but susan streaming out, when it gets to the senate that think the 15-dollar an hour will die. susan: yes, it will likely pass the house vote today that in the 15 note minimum wage will be stripped out when he gets to the senate floor for debate democrats fighting amongst themselves about where the minimum wage should be, should be $15 or $11 so that sidesteps the internal debate among democrats and they are aiming to get the stimulus bill on biden's desk by march 14. that isn't an important day because that's when the current extended employment benefits run out. the white house isn't going to appeal the

ruling and i think president biden kind of knew that the 15-dollar minimum wage would not be in the stimulus bill and he has been suggesting maybe the 15-dollar minimum wage should be a stand-alone bill which would still need majority passage, but just this morning i went to know it looks like missouri senator josh holly has introduced a 15-dollar minimum wage for companies that make over a billion dollars in sales. and usual, don't think for republicans? stuart: yes and i don't like to hear any politician telling people how much they will make when politicians set wages i think you have a problem. i disagree with the whole thing. susan: sounds like bernie sanders all of a sudden. stuart: me? no, certainly not. susan: no, holly. stuart: i agree, he does. what's a republican doing that kind of thing? futures still suggest a nice gain for the nasdaq

after yesterday's big drop. sideward move for that thou. kenny polcari joins us. here's how i see it the pandemic is in retreat, i don't think we can deny that and a wall of money is coming at that economy. we have a 10% increase in personal income reported today for january, to me and adds up to a continuing rally. what say you? >> i agree with you. i think it does mean a rally. i believe in economic recovery and i think a long-term the markets will do better, but we stop in the last couple days in yesterday as the yield pierced 1.5%. it's proving to cause investors to give pause to rethink the story and valuation and i suspect it's going to continue because i think over time we will see a 10 year trade closer to 2% and i think that will stop the market advance

at the moment. i don't think it will cause a big big correction. i don't think along the way it will give investors a reason to pause and look yields are back below 1.5% and now, we saw the turnaround in the nasdaq which out of all the four indexes is the one that has gotten beaten up the most slow there are lots of bargains out there and i think people will rush right back in. stuart: give me a bargain, kenny >> well, give you a bargain. you to look at some navies that have gotten beaten up yesterday in the last couple days, the biggest performers, high-growth tech names are ones where you can find some opportunities. apple ii days ago was down almost 20%. it's rallied thursday and then wednesday and sold off again yesterday so if you like a name like that, that should be in a core portfolio. i think you have to look at areas like that and the tech space especially names really sought a good name that

has gotten arbitrarily dislocated just because there's that nervousness stuart: i have held microsoft for 20 years. bought back in again. i'm not selling again. why should i? >> you make the point where you say you have held it for 20 years and sold some and then got back in, that's very much like an institutional manager would do. they have a core position and a name and with the exit they take a little bit off so when the market is overvalued , they take some off the table and sell it, raise some cash and keep their core position and they either put the money aside to put it back towards the same stock when it comes back in or they use the proceeds they raise to go find another. the banks i still like. i think the banks will do well and j.p. morgan is another one, why would you ever sell your j.p. morgan? you may keep a core position and trade around with some extra. stuart: the one thing i have never bought in my life is a

share in a bank, ever, never bought a bank stock, no, never. i don't know why. not on my radar, i guess. >> j.p. morgan and bank of america are the two i own and j.p. morgan is at the top of my list. stuart: chocking up your own book there, kenny. kenny polcari, thank you for joining us. i got more good news on bank-- vaccines to fda votes today on johnson & johnson's one shot vaccine purposes and, if they say yes, when will we get the shots? susan: according to what we have seen over the past few months authorization could come tomorrow, as soon as saturday mets kind of what happened when the panel voted yes on pfizer and moderna. three to 4 million doses of j&j vaccine would ship next week to save pharmacies and health centers per johnson & johnson said they could deliver 20 million doses

by the end of march, 100 million by the end of june, so remember j&j single shot, not to shots like moderna and pfizer. 66 effective over covid, but 100% prevented against hospitalization and death according to doctor anthony fauci so that's good news for a third vaccine. stuart: i would call that a very very big deal at all of those doses in the millions going out maybe probably very soon. susan: very soon. stuart: good news. thank you. looking at futures, we are about to open the markets. fractional losses for the dow jones, nice gain for the nasdaq. we will be back. ♪♪

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stuart: i'm going to go back to bitcoin for a moment. $45000 per coin. a back story here, it's the worst week since march, of last year for bitcoin. janet yellin called the queen extremely inefficient, very

critical and jay powell said a physical dollars a high-priority project. come back in, chris hehmeyer her bitcoin guide the moment. is bitcoin down because of the threats to it from powell and jenny allen? >> stuart, i don't think it's down because of the threat of powell and janet yellin, bitcoin is like a teenager. it's young and immature and so it can be petulant, it can be quiet and can all of a sudden be volatile, but down deep there's a lot of good to it and so it's young because it's young there's not a lot of history of correlation with the rising real interest rate market like we saw yesterday in the interest rate market and so the correlation that it has a risk on a set that a lot of people have talked about in the correlation with gold is when people talked about and it's because it's so young that there's not a

lot of history of what will be the determining factor of bitcoin in an environment where you have rising real rates. i don't think it's because as we talked about, it's not a great instrument of exchange. it's not going to take the place of the dollar as an instrument of exchange. digital currencies are on their way, central banks around the world are creating digital currency, the digital dollar in the us is working hard to try to do because it's coming. stuart: so, i can expect more volatility as the teenager grows up. >> you got it. >> thank you for joining me. when you had these's between people any of the time lag, difficult to hold a real conversation, but we try you are looking at

futures, literally seconds before we open the market and we have turned green all-around after yesterdays very sharp decline. that was on the higher interest rates, interest rates are falling back down again this morning, markets up and now, we are up and running, almost. give it a couple of seconds. i think we are looking at green across the board. let's start with the dow jones, it's early going, up about 40 points, a fraction of 1% on the dow industrials. s&p 500 also on the upside break from the start peer dow jones now a couple points. nice gain for the s&p up .4% solid gain on the nasdaq up .8%. let's show big tech, it's been down recently. had to did morning? on the upside, not a complete recovery. that's not gain buster rally, but it's a modest upside move. microsoft back to above 230. gamestop is the standout

amongst the frenzy stock of 10%, sundial growers of 2%, the rest of the frenzy stock as i call them are either down or virtually unchanged. i went to talk about beyond meet, it landed a deal with mcdonald's supplying them with plant -based burgers susan, the stock is up 7% and i understand they're expanding to other chains. susan: three-year deal with mcdonald's for their mixed plant burger, no meat and also an exclusive supply be your-- deal with taco browned. it's up 9% despite a bigger than anticipated loss of 2020 so looks like these exclusive deals are positive for the stock today. stuart: did you just call it a mixed plant burger? susan: i haven't tried one, i don't know if you will. >> wait a minute, is that what they are going to call it a mc plant

burger? susan: yes. stuart: sales stock, show me that. i thought they had a blowout quarter. susan: they did a. stuart: don't tell me it's another case of oh, they missed analyst expectation so they are down despite the blowout quarter susan: don't you think you should guide for something better in 2021? that did not happen. not as optimistic as wall street had hoped for four 2021. analysts are also expressing concern about the impact about the company's acquisition of the messaging platform slack which they paid about $27 billion for an december and it's interesting in the report card we finally got the new slack user number. they added around 14000 new paying subscribers and customers in the

final three months that's almost tripling from the final quarter from 2019, 150,000 new paid subscribers in 2020 4 slack and that's up 20% in the last time we got any numbers with that thus started 2020 so the fact that we got some sort of update is a positive. stuart: the stock has done well in the past. down a bit today. susan: you have to justify the $27 billion price tag, i mean, that's a lot of money to pay for a messaging app; right? stuart: 10 billion here, 10 billion there, pretty soon you're talking really-- real money. i have a space stock that is way down, virgin galactic holding, sir richard branson space bar program-- space coming on should. he has delayed their test flight until may, down it goes, 12%, big loss. doordash had a nice booming demand during the pandemic. stock down a fraction this morning.

it issued its first earnings report your is this because they are looking to the future? they see the pandemic winding down and maybe we won't do so much delivery of food to you heard that from doordash ceo earnings call predicting a slowdown as vaccines rollout. will this trend be here to stay for delivering meals, that's a guess but semi be throttled back once people can go outside and go into restaurants. new york increasing capacity did a two by 35% for indoor dining. doordash reported a better-than-expected sales in the final quarter of the year, tripling by the way from a year ago so pretty impressive when you see 200% up in sales. stuart: you know what we are dealing with here, we are dealing with stocks which did well during the pandemic and as we come out of the pandemic the question is, how well will they do in the future and each company is responding

differently given their outlook with the declining pandemic problem. i think that's where we are for a variety of stocks. susan: doordash up almost $100 from its ipo offering price of even though we may see growth rates come down, i mean, the stock is trading like we will still grow from here and the trend is here to stay. stuart: it's an established company, that's what happened the pandemic established them and many others in this line of business. let's talk about etsy, that was a pandemic winner and it's up about 15% this morning. a lot of people stuck at home, they are buying facemasks on that site. will you still wear a face mask even though the pandemic is winding down and etsy is doing well this morning, 15% up, a major league game. airbnb volatile to put it mildly come all over the place. what's going on? susan: airbnb reported a huge

loss losing over three and half billion dollars in its first earnings reports of ipo in december. sales came in better, but airbnb they say experiences booked in the final three months of 2020 is down from 2019 and we know covid decimated travel and airbnb expects some sort of rotation back with people coming back to traveling as vaccines rollout but the company blamed most of the three and half billion dollar loss to costs associated with ipo in december. stuart: here's another one, this is doing well, draftkings solid earnings and i bet this is because they will add more customers as more states legalize gambling. again, it's coming out of the pandemic expanding. i guess that's the story on draftkings. susan: sales went up 146%, i mean, these are huge numbers that we are dealing with and yes, it looks like user activation they say is higher

because they have been marketing a lot with a lot about draftkings and also they expect more states to legalize sports gambling and that's why they anticipate a better year in 2021 and i think the stock is actually trading up on that ms. stuart: yep. let's look at the 10 year treasury with the yield is, 1.47%. its reached 1.6% yesterday, really sent the market into a tailspin, all the way down to map 147 this morning and the nasdaq is rallying today. price of gold is still hovering around 1750 per ounce it's done nothing recently. bitcoin down $47000 a coin and oil, what is it 61, 62, $62.58. regular gallon of gas will cost you an average

$2.70 as of right now that's up a whopping 30 cents in one month. it's friday, you know what that means, friday feedback, tune in at the end of the show and you may have your questions answered. look at this, he's a mr. no more. the iconic mr. potato head toy is going gender-neutral, sort of. we will explain it coming up. ♪♪

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stuart: well, but that the markets as we are 12 minutes into session with the dow jones down 100 points, but the nasdaq is going the other way, let's look at dow winners.

their 30 stocks that make up-- make up the dow jones, top performers, united, microsoft, boeing, home depot doing well. 500 stocks in that index, the winners are etsy, twitter. etsy up 15%. big tech: the green, obviously that's helping the nasdaq. get-- big game for microsoft, $3 higher. facebook, and interested in this and susan knows all about it. they are going to release their smart glasses later this figure. hold on a second, a what are smart glasses and b what is this special feature they will unveil susan: so that the-- special feature is facial recognition confirmed by facebook head of hardware andrew bosworth yesterday. saying their users wanted it and bosworth reiterated facebook is on track to release

smart glasses, in partnership with the maker of prey banned at some point that will be in 2021. think of google glass, when you put them on their wearables that may indicate how the weather is, maybe messages and mapping so interesting software that will be part of this wearable hardware device, but we had to ask about the legality of facial recognition software because buzz feed reported that they were weighing the legal implications of adding facial recognition. i think you have two in this era of privacy where people want privacy and is it even legal around the world in different countries and geography. stuart: i would like those classes because when you get to a certain age, susan, you can't remember the name of the person you're talking to, so if i was wearing the glasses that i come across someone who i should know, but don't know the glasses would tell me who died is.

susan: what about the counter argument that do you want the glass to recognize you to scan usa met stuart varney, isn't that kind of a far-reaching in terms of privacy invasion? stuart: i will take the trade-off. [laughter] susan: could be abused and misused, that's what i think. stuart: it could, but i just want to remember everyone's name , which i cannot do at the moment. susan: i know you sometimes you, something else. stuart: look who is here now, pierre ferragu who's appeared free: on the program about tesla, always saying the stock price is going higher. well, pierre ferragu, the stock price is down below $700 a share. you thought it was going about thousand. what is your price forecasts now? >> k, stuart, my price is $578 so i'm still

very happy with where the stock is today, actually. i think it's taking like a very healthy breather. stuart: am i wrong, i thought you consistently said tesla's going up and up and up. i thought you had a price target over thousand dollars. am i wrong? did i forget something? >> my price is $570. maybe that was crossing lines, so when your time horizon like the long road perhaps largely exceed a thousand dollars. you would have to wait several years for that. that might be what we've been talking about. remember when we talked about tesla building cars, so that could have been when it's in excess

of the thousand dollars. stuart: is tesla down-- is tesla down a little bit in parts because they bought one and a half billion dollars with the bitcoin? is tesla now a bitcoin stock? >> i hope not. i don't think it's a great thing to see tesla investing in bitcoin. i don't like it personally. the riata-- the market reacted. i think it took more to set down recently. it's very good and healthy and also you know companies lacking like the model three in the model why are missing so that creates

a bit of-- maybe not as many cars expected so that's one thing in the second thing you are aware of the green card they have been discussing may be rates of the subsidy to electric car buyers and so you can imagine is that people might be thinking about delaying a purchase of a tesla to wait for their subsidy so that of the two things make q1 like a bit of a risk for the company and i think that is part of the weakness. in the long run i think the story is still very good and definitely the buyers as it further declines in the stock. stuart: got it appeared pierre ferragu, thank you.

i will get the story right next time around. i want you to see something. this is a video of time crews. guess what, it's actually not tom cruise. watch it anyway. spiritless and up the sports and tiktok fans. if you like what you are seeing, switch is coming next. [laughter] stuart: what you just saw was known as a deep fake video. if people can do that with tom cruise, they can do it to anyone. more on that coming up. deep fake. the housing market is booming and that's created a huge surge in lumber prices. with a live report on that for you. ♪♪

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stuart: the housing market is booming. home prices soaring. there's another problem that this brings with it, serena lumber prices. lidia is that a lumberyard in new jersey and my question is, can

they keep up with demand >> hello. they say they are barely keeping up with the demand right now and that's really driving the prices. the plywood behind me come of this plywood $20 is what it would've cost before the pandemic and are they say now it's $39 a sheet and that's really adding to the cost of home building across the country according to the national builders association with the cost of lumber adding around $24000 on the cost of a new home. we have seen commodity price skyrocket since last spring, just crossed $1000 per 1000 feet last week. this time last year it was less than half of that and like you say, with this unusual high demand there are challenges with the supply. we are here at jaeger lumberyard in madison, new jersey, and we talk to the owner and he said he's talking to customers and contractors about the risk of running out of lumber in the third quarter.

>> what we have told contractor since november is to plan ahead, secure your product. we can't hold it for them. we need it to their jobsites, but there is definitely a problem we are facing allocations from simple buyers including engineered lumber and its across-the-board. reporter: stuart, even now with the cost being passed on to the consumers who are buying new homes, one could argue it works itself out because interest rates are so low, but at least in the first to both future there's no sign either the prices are the demand will level out, stewards. th: k y: . y y atth i'slati's rtieti ere look gokintokint iight er anthyok u. kichec theecarhe mtkekeh turnarturn n stindual nalaln 16aln aln fanallianal qngteui dlyy. th nda n iqq oy op u tsts it had beead bpelp oll

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♪ ♪ stuart: yeah, i think our audience likes the beats and the rolling stones. -- beatles and the rolling stone stones. one more shot right there as you look at the empire state building on a cloudless day. morning, everybody, 10:00 east coast time and here we are, check that market, down 200 points on the dow industrials. now, there's a turn around. and we're only up 20 points on the nasdaq, there's a turn around. we were up well over 100 earlier, volatility back in the marketplace now. the 10-year treasury yield, when it spiked yesterday, it really put the market off. it's down this morning at 1.48%, so i don't think it's the

10-year treasury yield that's producing this selloff for the dow. bitcoin still in recrete, a price of $46,000 per coin. ten days ago, $60,000. that is a retreat. the latest read on consumer sentiment is a forward-looking indicator. what do we have, susan? susan: for the final read for the month of february, 76.8, it's positive, slightly up from the initial consensus read of 64.5, and we -- can 76.5. retail sales have boomed in the month of january thanks to extra stimulus checks and people going out and spending it. stuart: okay. not much -- i don't think that had any impact on the immediate market movements. you're still down 200 on the dow. of i'm looking for a reason for that 200-point loss all of a sudden. i'm not seeing it yet --

susan: you have to keep in mind that this is a friday, and we're heading into a weekend. most -- i would say wall street investors probably don't want to hold the risk when you can't trade out of it during the weekend. we have come a long way up, 40 basis points, which has caught a lot of people by surprise. we're at the end of february, we're already at 1.5%. stuart: yeah. and the dow is now down 220, and the nasdaq has turned south, did just a moment ago. now it's up 6 points, but that is quite a turn around that we have seen. susan, thank you. now this: six months ago the governors of and california, oh, they were riding high. they both hated trump and played the hate trump card frequently. they both locked down their states and claimed credit for taking strong action to fight covid. it's a very different story now. andrew cuomo and gavin newsom both face political ruin. governor cuomo, already battered by accusations of bullying and covering up nursing home deaths, he's now being hit with sexual

harassment allegations. leading democrats who once said that in sexual harassment cases the accuser must always be believed, they're now silent on cuomo's accuser. in california governor newsom also faces the hypocrisy charge. he never recovered from the his disastrous against the rules dinner at the french laundry. the state is still reeling from his lockdown restrictions and, oh, yes, the schools are still closed. newsom is being recalled. think about this, please, these two democrat states did their very best to defeat donald trump, and now these statements are a political wreck and in deep financial trouble. both governors contributed to this and so did the one-party monopoly that's been running new york and california for years. ah, the irony. democrat champions, contemptuous of president trump, now laid low by their own behavior, their own actions, their own policies. if donald trump wants to attack anybody in his cpac speech

sunday, it should be these two governors. they are democrat failures. second hour of "varney & company" is about to gun. . -- is about to begin. ♪ ♪ stuart: right out of the box let's have a look at big tech, the exception to the rule today. most of the big tech stocks are up. apple, amazon, facebook on the upside. they fulled back earlier this week -- pulled back earlier this week. still nowhere near their highs, but big tech on the upside. market guy on friday morning, that man right there the, his name is brian belski. he's known as bullish brian belski. okay. i read your stuff, brian, you know that. you're saying do not sell big tech. the bull run is not over. make your case again, brian. >> well, good morning, stu. media guy.

so thanks for having us. i think that this sell tech thing is too similar police ific, right? i mean, we know that people were concentrated in 2019 and 2020 in tech. we also know that many investors from the institutional perspective missed the move in march, april and may in the overall stock market, got in too late, got smacked around in september and now are blaming tech and taking profits and moving into value and small caps. we already know, that right? but here's something i think that we're forgetting. what are we buying as consumers? right? what are we buying? content, content, content. whether or not the apple machine, the google machine, the netflix machine, facebook, amazon, this is what we're buying with this money. that's why retail sales are so strong, consumer sentiment has been so strong. and let's take an even further thematic look at tech. there's no way possible, quite

frankly, that we would have had the vaccines ready without technology. no way. no way. and we believe from a longer term perspective we're on the cusp of the next great technology revolution which began, you know, a couple years ago. and we think it has a long way to go. given the fact that technology and communication services, stu, are 40% of the market, our call remains resolute. maintain those positions. and when you have a stock like apple which at one point was down close to 15%, you add to your position. we're going to stay that way. but on a near term basis with respect to what's happening with the market and with interest rates, clearly our favorite sectors are financials and industrials. stuart: i think what you're saying is something we've been saying for some time and you as well, the pandemic speeded up some of the elements in our society, speeded up the trends in our society, speeded them up dramatically. as we emerge from the pandemic, it is technology which runs this economy, case closed.

that's what you've been saying for so long. that's why you're saying invest in it, right? >> yes. i mean, all we've done is move forward the wherewithal of things like etsy or pinterest or twitter of the importance of google. we learned that really, really importantly during the lockdown. and let's be fair, 2021 is going to continue to be this volatile type of market because of all this indecision, stu. i don't think we're going to get into kind of normalcy in terms of trading until we see kind of a precipitous drop in unemployment claims, when we see earnings be spread across the majority of stocks in sectors in the market, and i think that's a 2022, 20 the 23 event -- 2023 event. stuart: okay. brian belski who i believe is 9/11 -- again in sunny naples, florida, i'm not surprised -- [laughter] we'll see you again soon. thanks, brian.

how about this one? senator mitch mcconnell says he will, quote, absolutely support trump if he's the 20 the 24 republican nominee. watch this, please. >> if the president was the party's nominee, would you support him? >> the nominee of the party? absolutely. stuart: steve cortes joins us this morning. former president trump's going to be speaking at cpac sunday. what do you want to hear from him? do you want to hear him unite the republican party in view of what mcconnell says? >> well, listen, stuart, i think the party is totally united when you look at voters and all of the polling out there, all of the relevant polling shows that. for example, an axios poll taken on january 13th -- which happens to be the day he was impeached by the house -- shows 92% of trump voters want him to be the nominee again in 2024, and we see 89% approval rating on that same day among republicans for president trump. so i really don't think he needs

to unite the party. there's a lot of people, unfortunately, like mitch mcconnell who need to get connected with where voters are. it was really amazing to me, it was remarkable and terrible what mitch mcconnell tried to do there, stuart. i was a teenager in the 1980s when the moon walk was all the rage. well, now he's trying to back pedal on his previous blistering commentary against president trump. i mean, just days ago literally he was skewering president trump on the floor of the united states senate, and now he wants us to believe, oh, of course i would support him if he's the nominee in 2024. mitch mcconnell, unfortunately, represents the worst of the washington swamp. he is a detestable, beltway dinosaur -- stuart: whoa, whoa, wait a minute, steve. come on. i don't think we need names like that, steve. >> stuart -- stuart: there's a division here between what mitch mcconnell thinks of trump the man, his

style, his language, his persona and what he thinks of his policies. which were widely successful. are there is a dichotomy here surely. >> no, stuart, listen, he went way further than criticizing the president on stylistic grounds. he said after the acquitting call vote he said the president would be liable for criminal prosecution, morally responsible for the riots that occurred at the capitol on january 6th, and he then turned around days later and said he would support that very same person to be the president of the united states again. there is no way you can square those positions. it is not logical, it is not ethical for him to try to take that stance, and i know i'm using tough words, but i think they're completely appropriate. he is the personification of why people can't stand politicians. he is disconnected, he's unprincipled, and he's a political wind sock. i think he realizes, perhaps, that he went way too far in that speech before the senate, that

the republican party voters are nowhere near his positions, and he's trying to reel it back in, but it's far too late. stuart: if the presidential election, just suppose, were held tomorrow and trump was the nominee for the republican party, do you think that 74.1 million people would vote for him again or more than that would vote for him or less would vote for him? which do you think? >> i believe more would. and the main reason i believe that is because we're already seeing only five weeks into joe biden and the presidency what disastrous policies he has institutedded, particularly his executive orders. some incredibly unpopular ones particularly related to the border and things like a tack on girls' sports -- tax on the girls' -- attacks on the girls' sports. i think he would rally even more voters today. stuart: well, i'm going to be watching very closely what he has to say around 5:00 sunday

afternoon at cpac. by the way, 15 minutes before he speaks they'll release a straw poll of all the people at cpac for who they want to be the nominee. that will be released 15 minutes before the president speaks, so there will be all ears and eyes on that one. mr. cortes, thanks for joining us. we will see you again, sir. >> thank you. stuart: we've got some big moves for the dow. look at it go down, 300 points. there are going to be some big movers -- susan: tons of earnings to get through, the latest report card on how corporate america's doing. draftkings, better sales, better profit, 1.5 million monthly unique players, and they say that business is only going the boom from here as more states legalize online sports betting. rocket companies as well, parent company of quicken loans, mortgage provider, and they say the housing boom had a record

year of mortgage volume. they're paying out a special dividend out to their shareholders of a buck and change. also a human resources software company coming in light, you get punished in this environment, so you really have to prove it. subscriptions also not growing as fast as wall street had anticipated, and finally, doordash, the food deliverer, first report card of the company predicting that growth in food delivery will slow once vaccines roll out and people go back to restaurants. but they didn't tell us how much growth would slow. i want to throw this to you, stu. remember that acronym we've been talking about all year long, there is no alternative? with 10-year treasury yields at 1.5%, you have alternatives now, and that's why you're seeing this rotation out of stocks. stuart: yeah, at 1.6 yesterday, it was a very attractive alternative. all right. thank you, susan. next case, the internet. it can be a very strange the

place. watch this. >> what's up, tiktok. you guys cool if i play some sports? i love it. stuart: that man is not a-list actor tom cruise. not. that is a deep fake, and we've got the full story for you coming up. this is america. high school kids forced to play their instruments in tents. got to feel badr for that tuba player. i can't believe it, can you? that is america today. president biden promising to spend $500 billion a year on climate. environmentalist, he is an environmentalist, bjorn borg -- i'm sorry, bjorn lundberg, he's here next. ♪ i will be the sunlight in your universe. ♪ you would think my love was

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w. ♪ ♪ stuart: all right, the market's all other the place, down 300 on the dow, a fractional loss for the nasdaq. a lot of volatility today. show me those shorts stocks, please. a mixed bag here. gamestop is still up about 10%, but the frenzy that we've seen in amc, naked brand, etc., etc., that seems to be dying back. now, susan, come on into this. you've been covering all week long bitcoin, and kathy wood -- susan: yep. stuart: -- she's a star, i got that. susan: guru of the moment. stuart: what's she saying now about bitcoin?

susan: she's saying it has trillions to go. bitcoin only recently crossing a trillion dollars, and she says that we are in the early innings, the early days of bitcoin. so imagine that this could grow in multiples in the future. now, we also had, of course, kathy wood, she also brought into the gray scale bitcoin trust, bought about 7.5 million shares in recent weeks. and bitcoin, by the way, because we've gone sub 45,000 this morning, roughly down 15% for the week, worst week going back to march, you have that gray scale/bitcoin trust trading at below its actual holdings of bitcoin value for the very first time since 2017. can you believe that? now, this is the easiest and probably the most popular way for average investors to buy bitcoin, but i saw premiums trading at 40% at some point this year. so now you're getting it actually below value which some say might actually with a bargain -- be a bargain here. stuart: okay.

i'd love to get kathy wood on the show at some point. susan: we've asked. we have asked. let's see if she'll come on. you know, she actually follows art laffer, so maybe he can give us an entryway. a recommendation. stuart: we'll take it either way. president biden has promisedded to spend, what, $2 trillion to combat climate change. that's over the next four years, $2 trillion. look at this, new york post op-ed. quote: biden's climate fix isen fantastically expensive and perfectly useless. [laughter] the author of that piece is bjorn lundberg, he is an environmentalist and joins us now. bjorn, what is wrong with the president's climate plan? >> well, fundamentally, spending $2 trillion over four years, that's a billion dollars for year. that's $1,500 per person, per year. remember, the average american actually says that they're not willing to spend $24 per year on climate change.

so spending fantastically more is obviously not sustainable. but also what he's basically doing is he's buying a lot of expensive policies that'll do very little to fix the very real problem of climate change. so, essentially, he's suggesting let's spend trillions of dollars to achieve almost nothing even in 80 years' time. that's a really bad deal. stuart: if we, if we all complied with all the terms of the paris climate accord, what difference would it make to the planet's temperature at the end of this century? >> very little, unfortunately. so theup has actually -- the u.n. has actually calculated this themselves. they estimated that the total impact of all the promises that have been made from paris would be equivalent to reducing the emissionings about 1% of what's needed. so by the end of the century, you would only see a temperature difference of 0.05 degrees fahrenheit.

you literally wouldn't be able to measure it. it's not just about virtue signaling, rich westerners and americans saying we're going to do a little bit and buy our own electric car, this is much more about getting everybody else onboard. remember, it's everybody in the rich world -- so the u.s. but also, you know, canada, australia, new zealand, europe, japan -- totally stopped all of their emissions tomorrow and for the rest of the century, the net impact would still be a fairly small, 0.8 degree fahrenheit. most of the emissions, three-quarters, will come from china, india, the rest of asia, latin america and africa. these are the places that we need to convince, and we're not going to convince them with moralistic arguments. we're going to convince them through innovation. stuart: okay. so spend the money, spend the trillions on innovation. that's your -- >> well, spend the billions on innovation, yeah.

stuart: but not trillions. okay. >> no, no. god, no. i mean, look, we need to spend smartly. if i can just tell you, you know, very quickly, if you think back to the 1950s in lang -- los angeles, it was terribly polluted. why? because people were driving around and emitting a lot of dirty pollutants. the solution was not to tell all angelenos that you have to stop driving and go walking or biking, the solution was technological. in 1974 a smart guy invented the catalytic converter. you put that on, you pay $500, and your car almost doesn't produce. that's why -- pollute. that's why los angeles has been cleaned up. spend more, billions not trillions into innovation. it's actually one of the problems of the biden -- it's one of the smart ones, but let's send billions, not trillions on policies that'll do almost nothing. stuart: you make far too much

sense, and we appreciate you coming on the show to share it with us. see you later. >> thank you. stuart: president biden taking his first military action as president, hitting iranian-backed forces in eastern syria. this was in retaliation for a february 15th rocket attack against a u.s. military base. it took place in northern iraq and killed a contractor, left others wounded including an american serviceman. service member, i should say. the pentagon calling this a success. roll tape. >> we're confident in the target that we went after, we know what we did, and we're confident that that target was being used by the same shia militia that conducted the strikes. stuart: the missile strike was meant to deter any future attacks in the region. coming up, here's what we have: tiger woods transferred to another hospital. we're getting new developments in the car crash investigation, and we've got those details for you just ahead.

plus, democrats on your screen have been outspoken supporters of women's rights, so why are they suddenly silent on the sexual harassment allegations against new york governor cuomo? damn bruce says pure hi -- tammy bruce says pure hypocrisy. she's next. ♪ ♪

we started with computers. we didn't stop at computers. we didn't stop at storage or cloud. we kept going. working with our customers to enable the kind of technology that can guide an astronaut back to safety. and help make a hospital come to you, instead of you going to it. so when it comes to your business, you know we'll stop at nothing.

♪ ♪ stuart: the story on the market at this moment is a very sharp drop for the dow jones industrial averages, down and it's falling. ing close to 500 points down at this moment, that's 1.5%. there's also a big loss for the s&p, 1.5% down. now look, on your screen are three dow stocks. all three of them way, way down. goldman, 50 points, boeing 40 points, disney 30 points and now we are down 445 on the dow industrials. the 10-year treasury yield, this may be one of the reasons why we've got the market going south. look at that, 1.51%. so we're back above 1.5% on the treasury. bad news for stocks.

dow's down 450. let's get to politics. do you remember when leading democrats jumped to the defense of justice kavanaugh's accuser? roll tape. >> i believe her. to testify in the united states senate against someone who's being nominated to one of the most powerful positions in the united states government, that takes an extraordinary amount of courage. >> i found her very credible. you have to ask yourself why would anybody put themselves through this if they did not believe that they had important information. >> we're here to show our solidarity, we're here to show our respect for all women who have a case. stuart: all right. they are silent now when it comes to the sexual harassment claims made against new york governor cuomo. tammy bruce with us now. tammy, i want to tell our audience that you were at a some point in your life, you were the president of the l.a. chapter of

n.o.w., national organization of women. what do you think now about these women who are silent about the accusations against governor cuomo? >> well, you know, part of what led me to leave n.o.w. and the feminist movement was the hypocrisy during the monica lewinsky situation with bill clinton. i mean, this was, it was remarkable to me. i suppose i was naive at that point, but it is astounding when you look at what it is they espouse and then what they do. and while it does seem likely pockily city on the surface -- hypocrisy on the surface, it really isn't. it's not about women at all. they don't care about women, they don't care about people of color, they don't care about communities in general. for them it's what can they do to get more power, what can they do to get more money. and so when it suits them, they'll stand up for all the women. when it doesn't suit them and it goes against what they want, which is money and power, they suddenly will say nothing which, of course, this is a woman who

admitted she didn't even really know calf gnawing, she didn't even remember him. the woman with governor cuomo works for him. he acknowledges her. she has a state senator saying i saw that kind of behavior, i believe her. so these are contemporaneous women who we know associated with governor cuomo and who are credible. stuart but that degrades and reduces the impact of the whole me too movement. if you only -- >> exactly. stuart: -- direct your anger against republicans and not against someone who may have done that and he's a democrat, you degrade me too, don't you? >> well, that's it. and you notice that there's one person who still speaks up consistently, and that's actress otherwise mcgowan. you hear that that consistent i city. but, of course, that also explains why joe biden is president. at least eight credible accusers, now you just don't talk about it, one woman

credibly accusing him of a sexual assault. those things have just kind of been swept under the rug. this is an extraordinary reminder to the american people that we need to look at what people deliver not what they say. and that is, i think, why president trump remains very popular. he was transparent, spoke about what a he wanted to do and kid it -- and did it. already we're seeing this environment where nothing is what it seems, but especially for communities in this country that do need to be seen; women, people of color, black men if, homosexuals, transgenders. everybody who matters, everything the democrats do is theater and, in fact, harms us more because it makes a mockery of what our lives are and what it is we want to achieve. stuart: tammy bruce, you have a remarkable ability to hit the nail on the held every time, and we love it. tammy, thank you very much, indeed. >> thank you, sir. stuart: sure thing.

>> appreciate it. stuart: i want to update the tiger woods situation. yes, he is still recovering from the accident. susan, i believe that doctors moved him to another hospital. do we know why? susan: yes. so we know he was moved to cedars-sinai in los angeles, and he praised the ucla medical team who performed the surgeries to repair his leg fractures. no reason given in terms of why woods was moved, he doesn't remember the car crash at all. authorities say he wasn't impaired in any way, and no charges will be filed, but the crash is still under investigation. it's good news that at least he's still recovering. stuart i've got to bring another sad story to our viewers as well, surveillance footage shows the moment lady gaga's dog, dog walker was attacked -- susan: yeah. stuart: do you have the latest on that? susan: also in los angeles. l.a. police are searches for the sooters who they say used a semiautomatic weapon and sped off in a white vehicle.

we have surveillance video showing them rolling up to ryan fisher. two men get out and the altercation ends with fisher being shot in the chest and snatching two of lady gaga's french bulldogs. we have to warn our viewers that, yes, it is disturbing. >> help me! [background sounds] [gunfire] susan: the dog walker, fisher, is in critical condition, but he is expected to survive. lady gaga offing a half a million dollar reward for the dogs' safe returns and any leads to any arrests. stuart: all right, susan. that was, indeed, disturbing stuff. i'm glad we could all see it at least. that's what happened. susan, thank you. change the subject, please. cpac kicking off in florida with governor ron desantis leading the charge. watch this. >> we are an oasis of freedom in

a nation that's suffering suffe. stuart: yeah, he's the governor of florida. [laughter] the rest of the nation is suffering, but florida's not that much. we have the highlights from cpac just ahead for you. first though, this might look a lot like tom cruise, but it is not him, not the a-list actor. it is a deep fake. extraordinary stuff. we'll explain it to you. ♪ ♪ but if you close your eyes, does it almost feel like nothing's changed at all? ♪ and if you close your eyes, does it almost feel like you've been here before? ♪♪ turn on my tv and boom,

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stuart: the story on the market at this moment is the volatility in the dow industrial average. moments ago we were down well over 400, now we're down 300. you've got a lot of coming and going right there for the dow

industrials. goldman, disney, boeing sharply lore, pushing the dow -- lower, pushing the dow down. and there's this, listen to this, crime spiking in chicago, and the state of illinois responds to it by easing some of the laws that put criminals behind bars in the first place. mike tobin is in chicago for us. break down the new rules, please, mike tobin. >> reporter: let me start out by breaking down the impact on police officers, and according to the president of the fraternal order of police here in chicago, the morale of the rank and file officers who protect this city is absolutely crushed. on monday illinois governor j.b. pritzker signed into law the crime reform law. here's a bit of what it does. it eliminates requirements for a sworn affidavit when making a complaint against a police officer. cops say that opens the floodgates for complaints without consequence. the law enhances tracking for police misconduct, but most remarkably, it eliminates cash bail.

the governor says that'll create more fairness for defendants rich and poor. >> before this new law goes fully into effect, pretrial detention is far more about how poor you are than about how dangerous you are. >> reporter: after that chicago's mayor, lori lightfoot, signed the welcoming city ordinance that that eliminated the ability to communicate with federal immigration officers. now, a police chief from gulf shores, alabama, says with the perception that leadership does not support them, the one thing cops in chicago are doing is leaving. >> but there really are a stack of applications on my desk from illinois police officers, and they're continuing to come in now that the governor has signed this into law. so we're going to get some of illinois' best and brightest, and other states will get those too. >> reporter: in chicago alone, there were nearly 1500

carjackings last year, one resulted in the death of a retired firefighter. murders and shootings were up more than 50% last year, and there the have been 77 murders so far this year. stuart? stuart: what a story. mr. tobin, thanks for bringing it to us. amazing. thank you again. all right. we should take another look at the markets. we've got this volatility here, down 400 moments ago, now down 280 on the dow. show us the big movers, please, susan. susan: beyond meat signing an exclusive three-year deal with mcdonald's to make plant burgers. that's right, plant-based, no meat. also an exclusive deal to sell to taco bell owner yum brands. let's just show you tesla because we have tesla back up to full capacity. he tweeted this out saying fremont did have a temporary shutdown for two days owing to a parts shortage but restarting yesterday. analysts believe it goes back to the global chip shortage that has impacted a lot of car

companies. it9 city just crushing it during covid -- especially -- etsy. and as you see, the stock continues to crush it as well. i want to show you salesforce, it's going the opposite direction. not as optimistic as wall street had anticipated for this year, 2021. and salesforce really has to justify that $27 billion acquisition of swac which did add over 13,000 paid subscribers in the final quarter of 2020, but not enough. and as you know, a remote working play, so you need to increase the remote digital work environment and the tools involved. stuart: okay, got it. this is an explainer, which we need for you. this is the tom cruise video viral. looks like tom cruise. it's not the real tom cruise. really looks like him. can you explain this?

susan: yeah. it was entertaining but also disturbing. three days ago the tiktok account going by@deep tom cruise began posting these video clips with the hollywood actor doing everything from talking, golfing, shopping and telling jokes. >> what's up, tiktok? you guys cool if i play some sports? [background sounds] i love it. susan: now, the scariest part is, that's not tom cruise. these are what we call deep fakes, thats a term coined for artificial generated fakes, look how much it looks like the real thing and the real person. there was also a viral video of house speaker nancy pelosi slurring that spread on facebook. now, stu, imagine how this can be used for misinformation in

the future by bad actors including bad acting state governments like russia and north korea. stuart: oh, it's a disaster. i mean, you could make a leading politician say and do just about anything and look like the real thing. susan: real thing. stuart: and how do you prove to the world that that is a deep fake, that it's not real? how do you do that? i think this is a huge problem. susan: there are telltale signs of deep fakes. this isn't even a great one, i'll tell you that. there are a number of flaws, for instance, the hollow voice, some of the movements as well that looks kind of blurry. but imagine in the hands of a very sophisticated bad actor like a state government, right? like russia that has deep pockets. they could make this absolutely real looking. stuart: sure. six months from now it might be absolutely perfect, and that's a bad thing, indeed. all right, hold on, look at this, just look at this. a high school band forced to

play in tents. ashley, i think you've got power back wherever you are. [laughter] ashley: finally. yes -- stuart: what's this about, musical instruments in tents? ashley: yeah. well, this story truly is in tents, and this is a deep fake. the real ashley webster's at the beach right now. anyway, that said, the school band in washington is taking social distancing to a higher pitch. each musician, as you see, gets inside this pea green, personal tent spaced 6 feet apart along with their instruments, and you know what? [laughter] what a picture. it's a tight fit especially if you play the zeus saw phone. it's 35 pounds, and that poor kid in there, doesn't look like he's having a good time. anyway, of after months of remote schooling, the principal says just getting back in the building makes the kids happy even if it's inside a tent.

that is the world, ladies and gentlemen, that we are living in right now. stu. stuart: i'm going to leave are it right there, ashley, before we can say -- [laughter] thanks, ash. all right. you know, it was a moment years in the making. roll tape. >> confirmed. safely -- [cheers and applause] on the surface of mars. [applause] stuart: there you have it, the moment to perseverance rover touched down on mars. my next best was part of that celebration. michael moe is here next. ♪ ♪ i'm stepping through the door, and i'm floating in the most peculiar way ♪♪

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stuart: a lot of us, myself included, were really excited to see the perseverance rover landing on mars. i want to bring in michael moe, he is the ceo of cooler technologies. his company created the coating that protects the lithium batteries that are on that rover. michael, congratulations on

that. but i want you to take us inside the control room, because i think you were witnessing the landing of the rover. share that moment with us, because i found it very exciting. >> well, good morning, stuart. thank you for having us here today. yeah, the landing of the rover was super exciting. i think they called it the seven minutes of terror. it was certainly a nerve-wracking experience, but i think that the nasa folks were talking through, you know, the experience with all of us, and there's a sense of a calm in the voice and confidence. by the time it landed, it was a perfect landing, certainly brought a lot of joy, joy and relief to us. as a small company out of california, we're so proud to be part of the, this really ambitious, i think the most ambitious, you know, nasa exploration in recent history. yeah. so we're super proud of it,

living the american dream. stuart: you're the ceo, it's kulr, right, that's the ticker of your company, kulr, and you made the coating of the lithium batteries to stop them from catch on fire. tell me real quickly, you can apply that technology here on earth? >> yes. so we have the technology to keep the lithium ion batteries safe. it's on the international space station to protect the astronauts' laptop batteries and tablet batteries from catching fire. now we're working on i plying that technology -- applying that technology, you know, on earth for ev and battery, you know, energy storage applications. and i think earlier this week -- yeah, sorry, go ahead. stuart: no, no, no, i just wanted to congratulate you on being in on the ground floor of that space trip expedition, call it what you will. and it seems like you've got a good platform for future development here on earth with

your lithium battery coating. michael, i'm terribly sorry, i'm out of time. but i do want to repeat, you are the ceo of kulr technologies out of california. and you're celebrating. thanks for joining us, michael, we appreciate it. thanks very much. >> thank you. stuart: always that delay, you see. so difficult. all right. bill cassidy, jon taffer, pete hegseth, steve hilton all coming up on this program, stay tuned. "varney," hour three, next. ♪ nothing but a good time, how can i resist? ♪ ain't looking for nothing but a good time -- ♪ and it don't get better than this ♪♪ you can spend your life in boxing or any other business, ..

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google machine, netflix machine, we are on the cusp of the next great technology revolution. ♪♪ put out a feeling ♪♪ stuart: i've got a feeling it is 11:00 on the east coast at this is friday february 20 sixth. straight to it, let's get your money, a volatile market, dow is down 400. now it is down 290. the nasdaq is all over the place, up and down. it is up 90 points, 13,200. the tenure treasury yield now at one.05%, has some edging up to one.5% and puts a shiver down some people's -- show me the dow losers, salesforce, chevron down, jpmorgan and ibm, all of them down in percentage

terms. now this. in 1974 i walked into a merrill lynch office in hong kong, made my first investment of the stock market. a few shares of goodyear tire & rubber. 50 years ago you actually walked into a broker's office to make the investments. the only way you can get a stock quote is to call a broker probably on a rotary dial phone and ask what is ibm doing now. if your stock in those days, you were part of a tiny minority. what a difference. you make the trade on your smart phone and judge the value of the company you are investing in by what people are saying on social networks. by the way you are now part of an investing public, tens of

millions strong. there is a world of difference between baby boomers and millennials, old and younger. i welcome it. this is progress. the wildest trading in game stop, bit coin, unnerved a lot of people and it may end in tears. technology, massive amounts of money tapped into the economy, widespread use of 401(k)s and robin hood, introduced millions of people to investing. a new generation is equipped to take advantage of the new economy america was inventing, new investors planning new technologies and industries. no barrier to entry. all you need is a phone, spare cash provided by the government by emergency aid. i made a little money on goodyear tire & rubber, discount airline 30 years ago, my share of that.

i lost every dollar i put in the boston market but that is the lesson that millennials are learning. it is the lesson of markets over generations. markets go up and markets to go down. is the message from my older generation of baby boomers, long-term growth makes a quick profit any day. third hour of "varney and company" about to begin. i don't know if susan wants to say what i said in my editorial but she has an update on what is going on at cpac which is underway. >> a joke that orlando is awesome. not as nice as cancun. a quarter of the audience is on their feet and taking the

headliners, other headliners being trump who will make a speech on sunday and the stage is set for him to make his point that the conservative movement is the american movement, setting the stage for 2022 when the gop says they need to take back the house and senate republicans being the party of conservative grassroots and not beltway insiders this sets the stage for sunday's speech and sources telling us the president will provide a speedy rebuke to biden's first month in office and hammer home illegal immigration and the forgotten american workforce with biden canceling the keystone pipeline project, calls to break up a big tech and to reference a trump run in 2024. ted cruz and donald trump junior, others include rhonda santos in florida, marsha blackburn and senator mike lee. interesting you are starting

with a joke. at least he makes light of it. stuart: did they laugh, and it worked. let's bring in pete hegseth at cpac. is this the stage for conservative come back? >> reporter: big time and that is the vibe you got here. rhonda santos was on stage, his message was we are not going back to the failed gop establishment and he laid out donald trump's america first agenda as the agenda of the republican party and the conservative movement, this is the beginning of call it a comeback or reaffirmation of what donald trump started inside the republican party. there is going to be a straw poll, the cpac straw poll that will come out 20 minutes before the former president take the stage, but when it comes to who do you like in 2024 the number

you see for donald trump will be very high because the enthusiasm for him here, the base from here is very strong. this is not the republican party of liz cheney or mitch mcconnell, this is the republican party of donald trump and rhonda santos and it is on full display here. it is christmas for conservatives. you would love it. you need to come next year. stuart: that was a good wrapup of what you have going on at cpac. a strong voice coming from donald trump. i want to talk to you about fox nation. you have an important piece here, i believe it starts today. it is called untold patriots revealed. let the audience have a quick look at this. >> americans enjoy unprecedented freedom today earned by colonists brave enough to stand up and fight

for them. this is untold, patriots revealed. stuart: i don't mind they were fighting against the brits. what else have you got in the new show? >> untold patriots revealed, and the series, americans doing incredible things when stories are forgotten today. i heard from captain john glover who saved the revolution three times, across the delaware that christmas night that is so important in the battle of trenton. when the series started, this is what fox nation exists to represent. telling the story why america is so special, the freedom we have today, it is all on fox nation, the first of a number

of series called untold patriots revealed. we start with the revolution and go to other time frames and you catch every speech for cpac you can do that on fox nation. stuart: i will watch the president on cpac and fox nation. see you real soon. a dose of politics, we needed those of what is going on with your money because their serious movement here, the dow is down 200 and the nasdaq is up 133. come on in mark tepper. talk to me about higher interest rates. when you hit 1:6 on the 10 years that really upset the market. we had 151. our higher interest rates the big problem for the market? >> without a doubt. you have seen treasury yields this week go up and that is

causing a lot of high multiple high momentum stocks to sell off. all the biggest winners in 2020, the stocks everybody loves, it is not just the level of yield but the pace at which they've gone up. they've gone up quickly. rising rates isn't going to end the rally by any means but rising rates will slow the rally and reduce future returns. people think valuations matter. bond yields go up, and make stocks less attractive versus bonds and impacts multiples. let me be crystal clear. i'm not doing back flips trying to buy the 10 year treasury but on the margin they look more attractive versus stocks. stuart: so you can get fast movement in and out but not necessarily long-term asset allocation changes. sorry i am out of time. we are waiting on cpac and the president sunday night and

movement in the market. thanks for joining us, appreciate it. bill cassidy, republican, voted to impeach donald trump. would he support mister trump if he decided to run again in 2024? i will ask him. people waiting around vaccine sites for hours, they want the unused doses. these people are called vaccine chasers, on the rise. california department stores, not allowed to separate toys and clothes by gender. what is going on in california? was are the priorities? identity rules everything. i will ask steve hilton next.

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no, buddy! buddy, it's a filter! only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ >> whatever. >> you saved their lives, my hero, so adorable. that is awesome. stuart: that was mister potato head in the pixar movie toy story. hasbro created an uproar by announcing that mister potato head would go gender neutral and would just be potato head. i think they backtracked. >> mister and mrs. potato head

are not going anywhere. it was going to be announced the potato had brand-name, dropping the mister. i yam, the vegetable theme. they are not going anywhere and remain mister and mrs. potato head. it sent social media into a tailspin asking why doesn't hasbro dropped the bro if they are so politically correct. they are trying to rebrand for more inclusion. barbie tried to shed its blonde image with multiple spin tones and body shape. more girl characters, american girl is selling a boy doll. mister and mrs. potato head have been around since 1952. did you have one as a child? i had one.

stuart: you had toys when you were a child? you must be rich. i plead with my parents for an air rifle, never got one. as simple as that. did you see a brief appearance from steve hilton. he is on the show and we will talk about california. let me set that up with a couple california stories. a new bill would fine stores $1,000 as they segregate kids toys and clothes into boys and girls departments. a california school board vice president is comparing school reopening to slavery calling it white supremacist ideology. let's bring steve hilton back in again. what is going on in your state? seems to me identity politics rules everything.

ashley: a brief introduction in the previous segment, wondering if they will segregate toys by vegetable types. that the next thing coming down the track. the thing that is so frustrating for those of us in the state is so many things are serious priorities that are not being addressed. children, what is the biggest problem for children? not that they can't go to school because the schools are closed here more than in any other state. when they walk out of their houses in big cities like los angeles and san francisco they walk into literally drug needles lying on the streets and fall over homeless people or they are going to be the victims of child poverty in the nation. none of those things matter. what matters is children are confronted when a going to target or whatever with the

reality there are two genders. it is mind-boggling. when you see remarks from that person on the school board, and the parents who want schools, children to go back to school by exhibit white supremacist behavior like slavery, it is also so typical hand in another school board you had parents, teachers caught complaining that parents who want their children back in school are doing it because they want to go back to taking drugs all day when kids are in school. it is unbelievable what is going on and you have a situation where democrats continue to get elected to these positions for local school board and local counselor at the state level because people feel there isn't an alternative. that is what needs to change. craziness has got to stop.

stuart: here is another one. california's on covid relief packaging, $600 stimulus checks for state residents would include money going directly to illegal immigrants. what do you think of that? >> gavin newsom made that announcement. he did it inside a restaurant that was still closed. it is so disgraceful. instead of doing the right thing which is to say lift the lockdowns like every other state in the nation has done almost completely, give out taxpayer money we don't have,. if you ever move out of california. you have nothing to base your show on any longer. there will be no more outrage. there will be sanity and rationality. if you come to visit me your show is finished.

i will be watching your show, the next revolution, 9:00 eastern on fox news. we appreciate you being on this program. the struggle to get covid vaccine appointments led many people to loiter around vaccine sites. they want the leftover doses. grady trimble is at rush university medical center. how to the hospital decide who gets those extra doses? >> this particular hospital is doing a good job of inventory management so they don't have to deal with these vaccine chasers as they are known. you can see they are getting the violence the ranges ready to administer the shots in arms and these are specifically who are in the qualifying categories that are eligible. at the end of the day they might end up with 3 to 5 extra doses but by no means do they have enough for these people who might leader or mine social media to find those shots. listen.

>> all day to identify in patients that would be qualified, in case there are extra doses left and looking for employees. we do have extra doses and have a list of patients were employees ready to get them. we made it get them if there are any left. >> reporter: i want to show you these numbers, 68 million doses across the country have been administered but there are 91 million doses that have been delivered. i ask what is the discrepancy? we do a good job of inventory management to make sure every dose we receive is being put into somebody's arm and nothing goes to waste. they are not sure why there is that big discrepancy but that's a lesson for other pharmacies and vaccination sites. the people who are most

eligible get these shots and make sure the shots, the vials that are sitting in the wings are being used. stuart: in my opinion, in another month, anyone who wants the vaccination can get one real fast because the supply of new vaccine will be enormous and there will be no vaccine chasers but that is a month away. appreciate it. please pay attention to the bottom right-hand corner of the screen, the dow is on the downside yet again, where a 340 points, better than one%. we have been all over the place this morning but right now the dow is down. that is alive look from cpac. a full report of what is going on this morning and right now president biden is on his way to texas to survey the damage from that big storm down there. his trip is bringing up questions about renewable energy. senator bill cassidy, republican louisiana, deals with that after this.

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stuart: the conference of conservatives known as cpac is underway in orlando, florida, i saw ted cruz make an animated speech, what was he saying? >> the most animated response we heard from the crowd went to cruise was speaking, giving a grilling down on the issues they think can unify the party ahead of the midterm elections. they talk about cancel culture. and what democrats support of large gatherings of protesters, not supporting large gatherings in churches. here's what they said earlier. >> 2022 is going to be a fantastic election year and so is 2024 as we stand together

and defend liberty, defend the bill of rights of every american in the immortal words of william wallace, freedom. >> talking about 2022 we heard a lot from potential 2024 candidates thinking about running or under consideration for president to run in 2024, ted cruz is one of those but also ron desantis spoke earlier today, it is happening in the state because they do allow large gatherings inside and so he's making the point that his state under republican leadership their economy is doing well while democratic run states are relying on congress to give them a bailout for their high unemployment, kept enforcing strong lockdowns. stuart: i think governor desantis has it did right, appreciate you being here. appropriate to bring in senator

bill cassidy, republican senator from louisiana. minority leader mcconnell says he would support trump in 2024 if he were the republican nominee, you voted to impeach mister trump so where do you stand on this? >> i don't think he will be the nominee. you are asking me a theoretical and i reject the premise of it. you can pick many reasons, among them his age but i don't think he will be a presidential nominee so i don't think that will be an issue. stuart: there is a split party and you have to deal with that. >> how do we deal with it, ted cruz going at it, the president would go at it. we have to have policies that resonate with the american people and which my gosh, the governor of california at the french laundry having dinner, no matter how far apart they said from each other, there has

been a kind of capriciousness by which the government has exerted its will over the american people, and incompetence if you look at what happened in the new york nursing home crisis that the american people are sick of. they want their freedom. they want their autonomy. the republican party -- stuart: president biden canceling pipelines and canceled the keystone pipeline going after some others. no drilling on federal lands for oil and gas. louisiana is an energy state. if the president pursues this climate policy all the way through, i don't know what word to use but he will hurt louisiana. >> he will hurt us in two ways, he will hurt oil and gas jobs which provide good livings with good futures for the family which employed them. he's also going to hurt us because we are vulnerable to

climate change and federal study after federal study has shown that if we don't produce oil and gas domestically it will be produced worldwide but instead of environmental standards creating jobs in our country they will be created and russia or iran or somewhere else creating jobs in those countries with their environmental standards and global greenhouse gas emissions. we lose the jobs in louisiana and we are further hit by rising sea levels which damaged our coastline. almost like the president has put a bull's-eye on louisiana and said we are coming after your jobs and your environmental respect. it is wrong for the nation. stuart: lots of folks on the show saying we should not do this, we don't want to do this, don't want to go with the green

new deal. >> the american people. if the president said the party of the working guy. we have an election inherent to having the american people can push back on that agenda. when shows like this and elsewhere and came through legislation and why public policy that truly addresses climate change without destroying jobs so there is no alternative. if they do that they can push back, change the agenda but give the american people the choice they need. stuart: if donald trump were the nominee in 2024, if, would you answer the question as to whether or not you would support him? >> is not going to be the nominee in 2024. that's not an issue i have to address. stuart: we will leave it at that. we appreciate you being on the show.

pure politics, back to the markets because we have a topsy-turvy market, nasdaq up 150 in the dow down 265. >> look at the text trade. it is back on, apple, amazon, microsoft, shopify, all rallying. it is a good sign that the us economy is reopening and growing once again and retail investors going to put in $170 billion into the stock market according to the latest. a bank survey, that is a wall of money out there that could rotate back into the stock market and that lifts stock prices, the retail young millennial trade is still there. draft kings, they have 1.5 million monthly players, more states legalize online sports betting, this will boom from here virgin galactic going

the other direction dealing their test flight until may but then indefinitely putting off the test flight with richard branson on board, virgin has backlog for future flights that they need to clear and air b&b, huge loss in the final 3 months, they say most of that goes back to their ipo cost as they expect a huge recovery this year as vaccines roll out and people travel again. stuart: that is a huge recovery expectation right there up 12% on air b&b. where did it go public? >> in the 60s or something close to that. the first day they finished up 100%, finished around 170. they made an extra $30 in the last few months. stuart: another stock where we look towards the end of the

pandemic and that will do well. >> reopening in the winter. stuart: i will retake that. you are in our audience, you could be part of space x's first ever all civilian mission and guess what? john tafter will have a voice in deciding who goes up in that record. how did he land that gig? he is on the show so i will ask him. ♪♪ i'm a space cowboy ♪♪

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>> 3, 2, one, 0. ignition. lift off. stuart: that was the latest space x dragon lift off. it had astronauts on board. soon civilians will be going on

board and blasting off into space. look who is here. john taffeer, the bar rescue guy and he will help pick who goes into space. how did you get the job? >> jared isaacman put this program to gather. he has been a pilot since he was a could, had experienced pilots license. a mission that serves for reality. and and for st. jude's children's hospital. the third seat represent generosity in the fourth seat represents prosperity. they are in the prosperity seat. stuart: what criteria are you

looking for from someone who has made it on their own. >> shift for shop, we go to that platform, build website, build a business model and produce a video of the business journey. they post that video on twitter with a hashtag with identifiers, and we picked those finalists. and we will choose who goes to space. >> would you go up? >> when i got the phone call, and i thought he was going to ask me, in those few seconds,

it is too and appeared experience not to do it. wouldn't you? stuart: yes. you only live once. it is -- >> they are going to lower but admission is slated for four days. it is significant to be up there for four days. >> and countering the democrats $15 an hour. congresswoman aoc says they are lucky progressives are not asking for $24 or $25 an hour. i just oppose any and all politicians setting wages for everybody else. i am opposed in principle and this kind of level would certainly recommend of restaurants in this country. what say you? >> i agree with you. minimum wage should be a very localized determination.

in tennessee, not exactly the same pay grade is working in manhattan. the tip credits in some states up to $15 an hour is a 600% pay increase. at the same time, the pay increase, they are talking about increasing taxes to an industry that has been disheveled, almost destroyed this past year. makes no sense. the timing, a double whammy like that on an industry is horrifying. stuart: i hope it doesn't happen. very interesting about the space trip. i withdraw my application to go into low orbit for four days. i leave it up to you. thanks for being with us. what day is it? it is friday, friday feedback coming up next. take a look at the forever

deserted times square courtesy every scam. is anybody there? ♪♪ ♪♪ tell me something good ♪♪

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act now.

♪♪ lucy in the sky with diamondss ♪♪ stuart: that is clearwater, florida. why are we playing the beatles? because you asked us to. friday feedback. welcome everybody. this came from russell ricky who said we need more beatles and stones songs. it is your show after all, make it so. i wish it was that simple. i wish you could wave a magic wand but you can't, there are rules about these things that you have at least one beatles song. the next one comes from kayden who writes on twitter this. not a question but varney should be turned into a meme as the roaring kitty against

teachers unions. i get the point, i'm really down on the teachers unions, very much opposed to them but individual teachers are wonderful. 6 kids and 10 grandchildren, i know a few of them, they are wonderful people but the union -- >> are you going to wear the roaring kitty bandanna? stuart: not quite my style. i will stick with the makeup. this is an email for you. susan lee mentioned if there was a need for morbid coin it could be mind. is this the same as the fed printing? >> there is a limit to how many coins, 21 million, but the

federal reserve, those money printers go on and on. stuart: you could divide that coin into 1 million pieces so you have 1 million sections, that is almost the same. >> there is a limit and that is why prices are where they are because there is a limit. stuart: all right, that is bit coin. eric rivkin comes to us with this. i am pro-trump, would still support him, he is too divisive to unite the republican party. ron desantis, jim jordan ticket. you are in florida. what do you think of that? ron desantis is the governor. what do you think? >> he is massively popular especially when they see the camera on the street, they stop

by, a couple people shouted out of their car window when i was in palm beach saying go ron desantis. has the support, jim jordan is always good for a comment or two in front of the camera. would make for a pretty strong ticket i would say. stuart: i hear a lot about ron desantis in 2024. this is from joe. stuart and ashley, since coming into the united states, what word or phrase, do you use to describe, the same word or phrase means something totally different. you first. stuart: i've got a ton but i was working in a clothing store in the mid 80s, looking for some pants. or the jockey shorts. looking for something with a slightly longer leg.

so the longjohns, at which point he grabbed a pair of pants and i said trousers. i think he thought he was on candid camera. stuart: i used to use the word boot for the trunk of a car. i still say football instead of soccer in america but i no longer say lori instead of truck. i more americanized than you are. i've been here 45 years. ashley: i still call sweaters jumpers, that is something i don't even think about when people look at you strangely. >> what about lift and elevator, tube, subway? ashley: it is easier. stuart: i am and elevator guy now. i am a subway guy now. a complete convert. you -- we have time for this.

we just spoke to john taffer about space x after billion mission. would you go into space for low orbit 4-day trip? >> how much will it cost me and do i pay for my own ticket and do i pay to send you to space? stuart: good question. would you go into low orbit? would you do it? >> they make me test it first and maybe i will get up there. stuart: i was looking for a yes or no answer so i will ask again, would you go into a lower is orbit? >> yes. maybe you can grab the seat next to us and you too, ashley. ashley: i would do it in a heartbeat. i would love it. stuart: if it was just you go

up into space and come back down again, a couple hours of weightlessness i would do it but four days in a little tiny thing like this i don't think i could do this. >> we know. stuart: keep sending friday feedback stuff. we will have more varney after this and i promise you we will. it has been a great week. or w. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

you packed a record 1.1 trillion transistors into this chip. i invested in invesco qqq. a fund that invests in the innovators of the nasdaq 100, like you. become an agent of innovation with invesco qqq. ♪♪ ♪ stuart: the main feature of the market right now is the

astounding rebound of big tech as represented by the nasdaq composite which is up 1.25%. it's been a rotten week for big tech the, but they're finishing on a strong innovate note. as for the dow industrials, sorry, going the other way. we're down 200 as we leave you at 31,100. time's up for me this friday, but neil, sir, it is yours. neil: all right, stuart. have a very good weekend. thank you very much on that. we are getting some news, something that could be adding to the selling right now, the only thing i'm going to attach it to is the cdc director warning we don't want to get ahead of our proverbial syringes, she's saying the recovery in the number of cases that has seen a dramatic decline, that could stall. she's worried about the various variants that have popped up all over the the globe. they could prove a stubborn resistance to the progress we've made. again, it's probably wise that she counsels caution, d