trillion-dollar plan, there is a lot of controversial stuff in there, as you all have been talking about also 1400 dollar payments to households, not rich people, but middle class people 75,000 dollars and under, and so i think one of the questions is do you not want to give them that money? >> all right. thanks to the panel and have a great weekend everybody, stuart: good morning. the economy is coming back strong. president biden may call it neanderthal thinking, but using state restrictions is clearly helping the economic recovery. here's the latest example, in february, 379,000 new jobs were created. i don't care if that meets analysts expectations are not, the fact is there is a strong uptrend in job creation.

355,000 new jobs created in leisure and hospitality. that's a direct result of states opening up. this economy is taking off and it only gets better as more states open and more people get the vaccination. this will be our focus throughout the show. look at this, long-term interest rates moving up again, that's the inflation scare from a booming economy. we are now at 1.59% on the 10 year treasury yield, way up there. asked for the market's reaction, the dow jones is a shaking off a fallacious fierce. it will open with a solid gain come up over 200 points of him with the nasdaq. it was close to the correction territory, close to it, but this morning there's a modest uptick despite those rising interest rates. that's with you-- that's what you have on the market this morning, booming economy and markets higher. we have a major

development in scandal surrounding new york's governor, kemal "wall street journal" and "new york times" report cuomo's aides altered the report on nursing home deaths deliberately undercounting those deaths. cuomo's team denies it, but the governors facing a crisis. 31 new york state officials are calling for his resignation. we are covering ebay, which has now banned the resale of those six dr. seuss of books, another major platform bowing to the woke brigade in imposing censorship. caving mac and a knee joints what do she make a president trump youtube channel still banned until the risk of violence ends, censorship is a major thing today. and larry kudlow will be here to analyze the booming economy, he should know, he worked directly to the president who i think rated this boom. is friday, march 5, "varney & co." is about

to begin. ♪♪ stuart: is that a sort of stock market? i don't know. let's get right at it. straight your money with a nice rally going on in futures, of 200, nearly 275 on the dow jones industrial with nasdaq gaining ground as we speak and s&p up about 1%, almost. broad-based rally. look who's here, kenny polcari, fortunately the man in the seat right there in the day when the markets are rallying. thank you for being with us. i'd we play this back to work booming economy

trend we see, how do we played on the stock market? >> today's report was strong, everything you have been saying that the economist turned around in the country is turning around, but i'm not sure that you will get dragged into this you know the euphoria this morning is very different from what we experienced yesterday based on trending inflation rates higher, the yield is higher so i don't think that stories over, so you continue to remain cautious. pick your points, picked the stocks that will do well, energy, financial, cyclical names will do well. i don't think you just go all in. you remain focused and you have to pay attention to what's happening. we have the weekend coming and next week the story could change immediately. rates are taking about 1.6% in the markets completely signing it off as if it doesn't make a difference, but yesterday 1.6% said the market into a tizzy, so the focus day will be

about this report and how great the economy is now the world is waking up, so i think you stick with the plan, the industrials i'm a cyclical, financial, energy are places, technology always, but we are in the technology space, things like the internet of things are places where you want to be is where i think you will want to be. stuart: if there is any red flag on your horizon, what is it? >> inflation, inflation. i continue to be concerned. inflation is going to rear its ugly head and suddenly it's going to surge in minutes not going to come back the way that powell or brainard said the other day that they thought it would be transitory and a little spike in inflation, but my sense is that once inflation starts to kick in, and it's going to kick in and be like a mean trade this momentum trade and it's going to take it higher and they will

miss it and they will be behind the eight ball and then we will be talking about the fed being forced into position to raise rates. they are going to raise them by a quarter or 1% that they had been talking about for 10 years. they will go up by a half a percent and think it's really bad and if they go by one full percentage point which i don't necessarily think will happen right away, but that's what could happen if he gets out of control. stuart: we do second, 30 seconds left, you really think inflation could get to the level where the federal reserve steps in and jacks up the discount rate or so-- you think-- surely not. >> i just said do i think we will get there right away, no, but my fear is inflation is going to rear its ugly head and they are paying attention to it and it will rear its ugly head and they will find themselves behind a ball and then they will have to force a significant move that the market isn't expecting. that's my fear.

stuart: kenny, we will watch out for that and hope it does not happen. kenny polcari, thank you for joining us back to big tech stocks. susan, run through it because we have a rise in long-term interest rates which is supposed to be bad for big tech and yet big tech is bouncing slightly higher. susan: given the nasdaq was very close to the in correction territory which is down 10% from recent peaks, the live today after the better jobs number not entirely out of the realm of possibility, so some are looking at the lowest level for the nasdaq since early january and the big tech is still down a lot over the last few weeks. apple down almost 20% from its peak at the end of january. nvidia at bear market territory. paypal, tesla, tesla has a lost its third of its value after it hit $900

a share how i said tesla is about-- down on the year and definitely lower than the 650 level when it entered the s&p 500 at the end of last year and tech is usually reactive and higher interest rates because it makes them look less attractivey when you get guaranteed money on us government bonds, but given the selloff we have seen i think people are just dip buying and looking for bargains a. stuart: extraordinary day, rates up, economy booming, big tech modest recovery at best come quite a situation. now let's turn our attention to the heavily shorted stocks which have been in the news for six weeks. susan: gamestop rallied in the afternoon session yesterday when i saw all of that red and the losses on the tech and monastic and a sippy 500, gamestop is up with another reddit wallstreetbets crowd piled into gamestop briefly. it did not hold it, but

mean stop play is paying her outlet. is being shorted right now leaning hedge funds are betting the stock will eventually fall. also note a yesterday and rockets the reddit rebellion target the past week and coming off the recent doubling higher by 2% today. one morning to throw in their sundial has been one of the most actively traded contracts for weeks now, most active-- second most active in the premarket this morning. it's usually in the top five at least they think the broader market pullback has probably doled the reddit rebellion at least for now. stuart: i noticed on your list of those a stocks there you have fuvov tv. susan: 30% of fuvov tv stock is

being shorted, 30% of the stock will fall and it makes sense with the lives of sports stream or, it is up, google tv is up 400% this past year and also an explosive growth company over half a million paid subscribers at the end of last year which is up over 70% from 2019. yes, great growth, but has it gotten ahead of itself if it's still not making money? stuart: got it. i think it's about time that we take a look at bitcoin, $48000 a share now below 50000. give us a stated-- the state of a place. susan: is down for the same reason stock markets have been falling, higher interest rates. we do still have a staunch believers, micro strategy bought another 205 bitcoin for $10 million in cash at the price of 48000. at $2.2 billion, micro strategy along with square, tesla are the

companies using their cash piles to buy bitcoin, which they see as an appreciating asset that is good for the balance sheet to leverage off of princeton's micro strategy selling bonds to raise cash off the bitcoin staff and cathie wood said she's been opportunistic with bitcoin below 50000 crypto crack and thinks bitcoin will get to million dollars a coin, but here's the thing, look at the grayscale bitcoin, the most popular etf consider the easiest way to play bitcoin for the average investor. it is down 5% this week trading in at discount of its actual bitcoin holding for the first time in four years and we are almost breaking below $41 yesterday. stuart: okay. how about dogecoin? the dallas mavericks will now let fans buy tickets and merchandise with dogecoin. susan, that sounds to me like a pr stunt.

susan: maybe or trying to appeal to the nba fan demographic which tends to have younger and more international-- cuban justifying the move by saying we have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generating pr so we will take dogecoin today, tomorrow and possibly forevermore. the mavericks have started to accept bitcoin in 2019, but dogecoin is only the 10th or 13 largest crypto currency. bitcoin cross the trillion dollar mark, why not ethereum which is the number two biggest crypto currency anyway we know mark cuban is a crypto believer. even bought a crypto arc which i talked about earlier this week. stuart: did he buy crypto art? susan: yes. stuart: he still knows a good pr move when he sees it and doing dogecoin i guess gets him public

relations, good or bad pr, doesn't matter. we have a huge show had. kayleigh mcennany will be here. this will be her first interview on fox business since leaving the white house. she has a lot to go out today and yes, it's a job this day and we have not heard from the white house. we have reached out to have someone join us, no response. what happened to transparency? besides don't have something good to put out today? they are not putting it out. a booming economy is what we have and larry kudlow is here to analyze one more time, futures, a 300 points for the dow industrials, well over 100 for the nasdaq, that is a rally here to stay with, please. the friday edition of "varney & co." is just getting started. ♪♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app

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no expensive memberships. go to aerotrainer.com to get yours now. stuart: if you are just joining us, that is called a rally. dow industrials up about 300 at the open and monastic up 150. we had a very strong jobs report about an hour ago. look at this, the yield on the 10 year treasury hitting 1.6% moments ago and now it's 59%. long-term interest rates are up because of that very strong jobs report come a strong economy, also. john lonski is an economist. will, i think this is a booming economy. i was particularly encouraged by 355,000 new jobs in leisure and hospitality and i think it gets better from here. what to say you cannot i think you are correct,

stuart. i mean, whatever happened to the long dark winter we were supposed to be flirting with a recession in the early months of 2021 and apparently that's not happening. my goodness. of the consensus of the first quarter mobile gdp will expand by well above average 4.5%. my goodness. the atlanta fed gdp methodology calls for growth of nearly 10%. stuart: okay. tell me about wages. i didn't dig into the jobs report really deeply, but i believe wages are going up more quickly. is that accurate? >> that's a big surprise. as you mentioned earlier, this latest increase in jobs was driven by a huge increase in the number of jobs in what is considered to be the low-paying leisure and hospitality industry. nevertheless, for the first time ever the average hourly earnings

grew above $30 per hour, up by more than 5% from a year ago, so we continue to see healthy gains by personal income that will be supporting consumer spending moving forward to. stuart: what about interest rates though? i mean, that's the real problem is that? long-term rates are really rising. we have 1.6% on the 10 year treasury today. with such a strong economy and rising wages, are we in for a bout of inflation later this year? >> we will see headline inflation rise, but i don't think it's going to become a recurring phenomenon. we are not going to have a repeat of what occurred during the 1970s when year after year the rate of consumer product inflation the tire. the upturned by inflation will be brief and as far as i'm concerned, the latest increase by treasury bond yields, it was

still very low like 1.6% , it's more reflective of improving real economy, profits growth than a worrisome chunk in long-term inflation risks. stuart: okay. you are making us all feel good, john lonski and we kind of like that on a friday morning. thank you for being with us. now, we talk a lot about states opening up and yes indeed texas and mississippi have listed their coping restrictions. that doesn't mean that all businesses are guaranteed to follow suit. susan, what's with mcdonald's? susan: the golden arches is that they are keeping texas and mississippi dining rooms closed with mask mandates still in place and that's despite both state governor's list-- lifting the mask rules and ordering 100% reopening of businesses. mcdonald's joins many businesses keeping the mask requirement in

place even in the lone star state while albertson's, and a number of local restaurants said they will get back to full capacity and no mask in texas so it really depends i guess on which company you work for because they are all defining their own policies right now. stuart: that's exactly the right thing, i think. you are private enterprise company. susan: free market. stuart: take your own business decisions, free market works for me. thanks. checking futures because we have about eight minutes to go before we open trading. is a rally, 300 up for the dow jones, 150 for the nasdaq and we will be back to cover it for you. ♪♪ lately, it's been hard to think about the future.

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some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) stuart: it's a rally. we are about three minutes before we open the markets and we will open higher. unconfident about that. show me big tech-- big tech, premarket. i can see a modest bounce when the mott-- markets open. let's bring in jonathan hoenig because he's been cautious on the markets and he has said in the past that the selling in

big tech is not over. what do you make a today? >> i'm happy to see big tech because it's been pretty vicious selling and it's always your own context whether your longform or short-- short-term as an investor. we have seen the something we haven't seen in a long time, hires interest rates and as you pointed out lower tech stocks. the findings spending, but the pandemic think philly is starting to come to an end. we had to spend the first stimulus and now they're talking about a second stimulus pushing interest rates off the board, talking about higher inflation and that is not good. technology stocks like apple go from 140 to 120 mean these are owned by all of us s&p 500 index fund and you never know if this dip just a dip or the beginning of a bigger move. i say caution is still

warranted despite the selloff. stuart: i always think of you-- forgive the expression, classical economists in the sense that i always thought you believed that if it-- you chuck a bunch of money at the economy, you will end up with higher inflation rates. well, we are chucking a bunch of money into the economy you could do we have an inflationary spike at some point this year? >> you know, you have to realize so few investors remember investing during inflation as your previous guest talked about turkey up to go back to 1970s. we have seen a big move higher in a lot of agricultural commodities, the strongest stocks icr oil reflate-- inflated stocks. the market is very forward-looking and it might just be that the market begins to selloff continues to selloff even as the pandemic is

ending just as it's rallied when the pandemic was wreaking terror, so that's the way markets are, forward-looking and i think inflation is on the way. stuart: okay. we have been warned, thank you. >> have a great weekend. stuart: the price of gold is below $1700 an ounce. used to be in inflation indicator, apparently it's not now. have a great weekend. at the opening bell will bring in about 50 seconds amounts what we will see. we will see green across the board dow jones up maybe 300. s&p up maybe 40. nasdaq up about 130 points. this is a reversal on the trend we have seen for much of this week where rising interest rates pushed stock prices down pretty much across the board. quite a selloff especially for the nasdaq, which was close to correction territory, that is down 10% from its high.

looks like it's going to bounce off that this morning, but that's how we open. you never know how we will close. here we go, close to the opening bell. the bell is ringing. it's almost 9:30 a.m. let's see how we do this friday, march 5, 2021. we are off. i just saw someone press the button. the only stock i see in the red amongst the dow 30 is disney and that is down a fraction. the other 28 stocks are up. american express not open yet. it's unchanged appeared the bottom line is, we are up 278 points in the early going to the dow jones, almost 1%. 1% plus for the s&p, 1.03%. nasdaq, 1.16%, nice balance. if the nasdaq went up 164 points today, it

would be positive for the year. big tech always in the news especially recently when it's been selling off. i would call that a modest bounce microsoft up 1%, up 1% for google, less than gains were amazon, facebook and amazon and apple. we are one minute into the trading session. i want to know about tesla. what do we have on them this morning, i don't know if it's up or down. susan: it is up, not by much. tesla is still down 30% on the year. we talk about dan eyes who's a test lowball and he said he still bullish could be a buying opportunity for ev plays especially one that have a big footprint china and he said electric cars are global 5 trillion-dollar market opportunity over the next 10 years thanks to surge in demand coming from china. tesla should be a huge benefactor because they

already have their shanghai factory up and running and they are already winning the charney-- chinese market selling him as two times more than their next three competitors. i went to show you another electric car play. this is an embattled car and truck maker cut by j.p. morgan down to a hold only worth $30 but that's a stretch trading is at 15. stuart: i'm more interested in tesla, to be honest with you. was in it $900? susan: $900. 620 is where it's trading now and that's actually below the 650 when it entered the s&p 500 at the end of last year. down about $30. stuart: seems to me tesla dances to a different drummer from just about everyone else. [laughter] stuart: forgive the cliché, but

it seems to be a special case have the time. show me the price of oil i'm sure the price is up because we have this very strong economy, $65 a barrel. i take it susan, the energy sector is a leader of today's rally? susan: yesterday, if you look at the entire breakout of the individual sectors on the s&p 500, only the oil sector was up in that selloff. best-performing sector on the year, the quarter, the month whenever you want to call it, oil is getting a boost after opec's said they would extend production cuts to april with rush on board so chevron making an announcement buying oil drilling services company. chevron rallying, exxon and upgrade, so a holder from a cell and exxon is worth about $50 and their recommendation do so seems like energy is probably the reopening trade of the year so far along with the travel

stocks. stuart: susan, i went to talk about cosco. susan: of course you do. stuart: you know it's one of my favorite retailers. i read their earnings report and i read what the cfo is saying, that they are selling a lot of bacon. i don't know why, but they are selling a lot of bacon cosco. why is the stock not doing better this morning when we are facing a booming economy? susan: from what i saw they actually made less money in the quarter than wall street anticipated so that was a bit disappointed that wall street really has high expectations for cosco which has done so well in the past year during the pandemic year. this is where you go to greet your fans. bacon is up 45% for whatever reason they say and you heard this from the cfo on the earnings call yesterday with a lot of demand for bacon. also price inflation with pork prices up a bit on the year and cosco hugest salesman

comes to digital, surging 76% with but traffic up 13% again with the highest they have seen in foot traffic in close to 10 or 12 years but the company experienced a some supply chain issues which resulted in higher cost, but people are still paying for their bacon even though prices went up. stuart: who would've thought we would discuss bacon prices and bacon demand when we discuss cosco? who would have thought but here we are in the middle of it. susan: during the pandemic. stuart: it easy to cook and it tastes great. show me, please. that is a surge. what happened? susan: the greens weren't that great but the parent company of gap, old navy and banana republic is sounding optimistic predicting apparel sales will rebound in 2021 because people will go back to the office and

more people will go to school and that means they need to dress and buy more fashion. sales in the most recent quarter came in below forecast which again as i mentioned was a bit disappointing, but is the shift to online helping to offset the decline with in-store sales. stuart: i think the underlying theme on the market today is this a booming economy that we saw from the jobs report and the likelihood that the boom will continue. susan: don't you think it's a reopening theme as well? stuart: absolutely. susan: sane people will get back to work and school and they need to look better and by more close and they will be motivated to do that. gap, chevron, oil companies is a reopening playwright there. stuart: absolutely. show me or call. they are up three and half percent, nice gain something going on? susan: we don't talk about it enough. stuart: no, we don't.

susan: business services company by larry ellison, one of the richest man on the planet that an upgrade today and i have not seen an upgrade for quite some time, calling it an $80 stock. they are saying by this a stock and it is still in the midst of trying to close the deal with tiktok and walmart so it looks at the deal by not go through, but this is a recovery, reopening story and more companies willing to spend more this year and may be used more of their services. stuart: let's wrap this up. we open the market is friday morning with a very strong jobs report. we have an uptick in the long-term interest rates and a look at that, we have a rally on wall street. still to come, more trouble for governor cuomo "wall street journal" reports,'s advisors altered the report on nursing home deaths. they deny it. we are on it. next, larry kudlow, the economy is booming and i think he has something

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stuart: twelve minutes into the trading session and the rally is holding, but not on the nasdaq. we were much higher than now with the gain of 10 points for the nasdaq, 200 points up ford dow industrials norwegian cruise lines, you may think a cruise line would be due-- would be doing well for the back to work trade, but it down 9%. they have announced a public stock offering a 47 million shares, raising money, 47 million shares dilutes the stock holdings of people who already own the stock

and that's why it's down 9%. stocks are strong this morning, not a surge, but they are strong following the big jobs report earlier. it's the first full month of the biden presidency and we had a 379,000 new jobs created larry kudlow joins us as of right now. strong jobs report, larry. i think it's a booming economy. does that hurt the case that we need more stimulus? >> yeah, well he should it won't, but it should. [laughter] the logic is on your side, i mean, this is a good report. it was a spectacular, but it was good, moving in the right direction especially with private payroll up 465,000 and at the unemployment down to 6.2%, good stuff and households up over 200,000, so i think you're right. look, the whole issue you know you have the sort of permanent

shutdown lobby going on in washington dc where if you open up your state you are a neanderthal, so it's a weird story washington and the biden's are in denial just how strong the economy is underneath it all. retail, housing, manufacturing, construction and so forth a very strong. or jobs will get better and better. stuart: they are. look, they are in denial, larry because they know deep down this is president trumps policies that have created this expansion. is president trumps warp speed vaccine that created this expansion. they don't want to admit that. they don't want to say that economy is fine and our president is responsible, they can't say that. >> well, you know a could if they are honest but they won't. this is the theme of my show every night. every night i talk about this and probably again tonight.

you have roughly now i think from the cdc stuart, 83 million vaccinations. that was done on the shoulders of president trump operation warp speed, entirely right. by the way, president trump gave them a daily run rate of 1.3 million vaccines as of inauguration day so you are 100% right on that. i went to san terms of the economy and job opportunities, because of vaccines skyrocketing and because we will probably hit herd immunity sometime in the late spring or early summer, and because the case rates in the fatalities are plunging you are getting more and more and more reopening any in connecticut for example, a blue state the governor is now 100% capacity in pretty much everything, maybe not quite every bar, but it's wide open. yeah, you should wear a mask, it's up to you.

so, you will see bigger job numbers in the months ahead, march, april, may. february was still affected by the last spike and some lousy winter weather but this is promising and we shouldn't be in denial. 1.9 trillion so-called relief bill is pretty much a waste of money except for maybe eight or 9% of it, so sure, but what we can do, they will pass this thing. you know it and i know it. stuart: one quick question about inflation. long-term interest rates moving up to matt 1.6% today on the 10 year treasury. is it onward and upward from here in this booming economy, inflation? >> i reckon so, not inflation so much, here's where i make a distinction, i think most of the rising market rates, not the target rate, but market rates, most of that is coming from real interest rates which is a signal that the economy is growing again

and that the returns to capital arising, so that's held and i am sure that tenure is going to 2% and that is okay. on okay with that. regarding inflation, i think some reports coming up will show a higher cpi, i don't deny that, but look the dollar is steady and actually year to date the dollar is up couple percentage because the us economy is vaccinated and reopening and is much stronger, so i think some prices are going up, but i think other prices are going down. individual price changes or relative price changes, so i don't think you're going to see a total inflation glass off in the next you know bunch of six months or something and if anything will jump it will be temporary, just -- look, people are overplaying their hand. don't expect the fed, traders yesterday were hoping the fed would buy

bonds and get long rates down. they are not going to do that. traders should just a trade and stop whining. stuart: larry, you should not be shy about taking credit for the economic policies that have created the boom. you shouldn't be shy. i expect to some taking credit when i watch you this afternoon at 4:00 p.m. and again at 7:00 p.m. on the fox business network. always a pleasure to come back soon. >> thank you, stuart. stuart: instacart, the grocery delivery act may skip an ipo and go straight to a direct public listing. public through a direct-- that's what i'm trying to say. what is that mean, stuart? susan: a lot of high flying unicorns are flying with this direct listing. they are not ipo's. you don't raise new cash, it's more in

opportunity to get out and sell out for early investors in early employees, not just instacart coin based the largest exchange looking for a listing for the hot ipo last year's saw soaring results. the only people that benefit are the wall street funds that have been establish relationships with the brokers and then they get to flip the stock in 24 hours for easy gains in less than 24 hours so i think people are learning the lessons from eric bmb. stuart varney? stuart: hey, for about 35 years in television i was known as stuart and then bill hemmer on fox news started to call me stew in the last two minutes larry kudlow and you called me stuart varney. susan: evolution. stuart: i'm not sure i like it. got to go.

you are about to look at some brand-new video from the us-mexico border just as president biden sent officials there to assess the situation, still won't call it a crisis. we are on the story. it's almost time for spring break with florida preparing for an influx of partygoers after being locked up. we will head to the sunshine state for a full report for you. we will be right back. ♪♪

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give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. stuart: very strong jobs report, but the rally is losing steam with the nasdaq turned south 40 points. checking financials, they have been doing well recently as interest rates rise. this morning a mixed picture, goldman and morgan stanley on the downside with fractional gains elsewhere. energy, oil has reached $65 a barrel, so you can expect oil companies to go up and they are up across the board. we have told you a lot about companies offering incentives for workers to get the shot at one company in illinois doing it and that that's

where trimble is right now. obvious question, grady, those workers who are getting the job-- the shot on the job, are they getting it for free? >> and they are getting their second dose is today for free. this company, the monte has partnered with the local health department and as go the grocery store that also has a pharmacy to administer the vaccine in the offices where they produce and manufacture or i should say package the fruit you eat morgan tracy is getting his second dose right here and he is the general manager. this has made it easier for you to get employees vaccinated so they don't have to deal with the dickel-- difficulty of an appointment. >> absolutely, they can come to work and just get the shot. >> stuart just groaned a little bit when he saw that go into your arm, but it's been really easy. [laughter] this could be something

that expands each year if you need to keep getting the shot. >> absolutely. one of the core values of the company is care for our employees only when to make things easy. >> at this point stuart, about half of the employees have gotten it which is a good rate and as i said they are getting their second dose today so they will be fully vaccinated. stuart: just don't show me a guy getting a shot again. i hate to see the needle go when. thanks for being there. >> it's a good thing. stuart: no question about it took big show a head. here's what we have, jason chaffetz, tammy bruce, ms. mcdonald and kayleigh mcenany and don't forget it is friday meaning it is friday feedback coming up.

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into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪ don't you know i'm coming, on my way. ♪ get ready, 'cuz here i i come. stuart: okay. good morning, everyone. it is 10:00 east coast time, and let's get straight to your money. i have to tell you this, we've lost a good deal of the rally especially in the nas a damage. we opened -- nasdaq. we opened up at 9:30 eastern this morning, and the nasdaq was up about 100 points as i recall. now it's down 62, and the lead from the dow has been cut from 150 to about 120 as we speak. this is part of the reason why the yield on the 10-year

treasury, 1.58%. investors do not like higher long-term interest rates. big tech especially doesn't like long-term interest rates going up, that's why you've got a mixed picture on big tech despite their recent losses. microsoft is up, google's up, facebook is occupy and the rest -- is up and the rest are down. bitcoin, $48,000 per coin, that's where we stand. that is the state of the market this morning after that stellar jobs report. now this. this week seemed like we've been hit with an avalanche of cancellation. yeah, the woke crowd is winning. we're being pushed into an intellectual straitjacket where we are told what we may say and what we may write. it doesn't matter when you said it or when you wrote it. if you stepped outside of what is now considered acceptable, you are out. you are ruined. you are shamed. as you know, dr. seuss has been canceled, six books banned.

well, there's a development there. if you've already bought any of these six books, you may not not, repeat not, sell them on ebay. finish sounds like a minor detail, but it's not. ebay is a powerful platform and now they're banning books. dr. seuss, no. hitler's "mein kampf", oh, that's okay, you can still get your copy. it's not just what you can read, it's also the opinions that you're allowed to hear. we have an update on that too. president trump's youtube channel will stay canceled until, quote, the risk of violence ends. this is serious stuff. the woke crowd in league with major corporations and big tech platforms has successfully limited our free speech. i'm old enough to remember the montana car thinkite mccarthyite witch hunts of the 1950s. it seems like we're going through a similar period now, although these days it is anyone who is non-woke who is canceled.

the red scare cancellations of the '50s ended when joseph mccarthy was ridiculed and confronted. with the woke crowd, we've reached the critical stage, and we've started to laugh at the foolishness of banning dr. seuss. i can't wait for the day when wokism is confronted and rolled back, but we're knot there yet. we're not there yet. the second hour of "varney & company" is about to begin. ♪ ♪ stuart: i meant that to be an upbeat editorial, but it turned out to be a down beat one because i said the woke crowd is winning. jason chaffetz is with me. what do you say, jason? the woke crowd is winning? what do you say? >> i think it was actually very well said. i think america is actually really tired of being told that they're racist, that they're nonconformist, that they're doing something wrong by reading

dr. seuss or wanting a mr. potatohead or something else. i think it is a very concerted effort by a very small group of people. i don't think it's representative of all democrats, but certainly it is some on the left to redefine the american family, to tear down the nuclear family and to try to redefine who we are as a people by taking away some of those cultural icons. and i think it is a dangerous path. my friend rob o'neill who's the famous navy seal, i saw he tweeted out yesterday, he said, you know, it's never the guys that ban the books that are ever on the right side of history. something like that. and i think that's right. and i would also point out that the biden/harris administration, they seem to be some of the best at selling these books, because now there are record high sales and selling ammunition because they've talked about banning guns. so their selling a lot of books

and ammo, i'll give them that. stuart: but have we reached a tipping point? i don't think we have yet. i've not seen somebody of real authority stand up and say, you're wrong. i'm not a racist, you are wrong. knock it off. i've not seen that yet. i've not seen it. >> well, a lot of those voices, particularly those on the conservative end of the spectrum, are being suppressed. i mean, they've taken away the platforms and the ability of people to be able to say that. and i think it is something our country needs to have a discussion about because i just think it's fundamentally wrong, and, you know, there are individual instances where we should have a discussion about what should be out there, what should not be out there, but right now it's a lopsided game, and i think you're right, i don't think we've reached the pinnacle yet. stuart: i hope we reach a tipping point real soon. jason, it's always a pleasure. don't be a stranger, come and see us again soon, okay? >> thank you. stuart: see you later. all right.

let's take a look at the markets. we're back up again for the dow industrials, all over the place with the dow. right now we're up close to 200 points. the nasdaq, though, still on the downside. seine that sis el, market lady of the moment, joins us now. the nasdaq in particular losing a lot of steam, but we've got this booming economy. how do you explain this? >> well, it's a rotation that's going on. cyclicals mean anything whose earnings are driven by cycles of the economy like energy and materials, and we had a two-and-a-half year bear market in those areas, in those sectors. so we're starting to see a rotation which is actually really normal coming occupant of a recession. you usually do see these cyclicals start to outperform, and energy, financials, material, industrials and small caps all are benefiting from this change in leadership.

stuart: how do i play it? look, i think we've got a booming economy. i think things get even better come the spring as we open up more states. how do i play that? what do i buy today that would take advantage of a rapidly expanding economy? >> i am very bullish on service-oriented names. so things that will take advantage of people getting out of their homes. so restaurants, any type of hotels. but for me, my faith names are a name -- favorite names are a name like jets, it's an etf that is a basket of airlines. this is a good buying opportunity. i also really like disney. disney's actually done okay because its streaming service has been lucrative through the lockdowns and the pandemic, but the reopening and people going to visit their theme parks is going to be huge for disney. so that's another name i really like as well. stuart: what evidence do you have to suggest where people are

spending their stimulus checks? >> well -- stuart: going into the stock market? i mean, are we paying down our credit cards? what are we doing with all this extra money? >> well, as it turns occupant, most people are saving it. if you look at the personal savings rate in the united states following each time we've received a stimulus check, it spikings. so at the end of 2020 before that $600 came out, the savings rate was about 13%, which is high. normal savings rate in the united states is about 7. as of the end of february, the savings rate was at 20.5%. so people are actually saving it. they're not really spending it, which is why you haven't seen huge rebounds in retail numbers or other types of consumer spending. but i do think that once we start to reopen, especially over the summer and, you know, we're talking about having enough vaccine to vaccinate all adults in the united states by may, if that actually occurs, i think what you'll see is people start spending it on experiences,

going on trips, seeing family, getting out of the house. that is where people will be spending their money, and that is where i'd be taking advantage of opportunities in the market. stuart: got it, shana. thanks for joining us, have a great weekend, please. thank you. all right, let's see. have we got some movers? i'm going to start with boeing. actually, it was a big mover, now it is just -- it's actually down a fraction. susan: yeah. higher by about 2% in the premarket, but boeing, i think, is worth mentioning today because we have investment banks getting more bullish on the stock. an upgrade from -- who says it's worth $275. so that's 20% up from these current levels, and boeing is tapping bankers for another $4 billion in cash just in case this recovery takes a little bit longer. wall street seems to like it, overnight with 2% and an outperform yesterday as well. now, core lodge jibbing, which is a zillow competitor, big decline after having second

thoughts with rising interest rates and, of course, that might cool off the real estate boom. microsoft, you know what? its $10 billion pentagon contract might be in danger. a new administration is coming in, new defense leadership, and there might be a rebid with other companies for this lucrative project, which i thought was interesting. check out gray scale's bitcoin trust. today it was up, up 4% just a few minutes ago, but that's how volatile the markets are. gray scale was trading higher with the move up in bitcoin strategy. and finally, tesla just went sub 600. look at that -- stuart: whoa. susan: yeah. and don't forget it was added to the s&p 500 at 650, so it's down roughly 30% plus from those $900 peaks. stuart: that's amazing. when i saw tesla at $900, i never thought that it would come

all the way down to where it is now -- susan: had the same reaction thinking who's buying this at $900 when you're trading 100 times sales? stuart: yeah. well, there is extreming volatility today, and tesla is just one example of that, i think, down 4.5%. susan: yeah. stuart: we've got an impressive jobs report this morning. what is it, 379,000 new jobs created, there you have it. susan: yep. stuart: that was just in february. where are we seeing the most hiring, susan? susan: the hardest hit sectors during covid, a huge gain in recovery in restaurants and travel, leisure and hospitality adding 355,000 jobs in the month of february. jobs in food services and drinking, which is great, as hopefully more states reopen. retailed ad 41,000 jobs. manufacturing gained 21,000. however, some severe winter storms last month cost the construction jobs, around 61,000 of them, in the month of february. interesting stat here, the

remote work trend. that went down a touch, the proportionality of workers still working remotely, that is still over 22%, and that's still 13 million but coming down a little bit and, hopefully, more dramatically as more of these states reopen and we get the vaccines out there. stuart: susan, thanks very much, indeed. the biden administration still refusing to call the influx of children at our southern border a crisis. >> [inaudible] >> do you believe that right now there's a crisis at the border? >> i think that the answer is, no. stuart: not a crisis. so why are they sending a team to the border? former acting i.c.e. director tom homan here on that next. should regulators take a look at elon musk's bitcoin betweens? the ceo of the $31 billion payment start-up says, yeah,

take a look at him, absolutely. he's here to make his case, and he's on the show. but first, pope francis is in iraq this morning. we've got a report on this historic three-day visit. we'll have that report after this. ♪ ♪ baby, i love you. ♪ come on, baby ♪♪

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this morning. volatility is the name of the game. that being the case, look at the biggest losers on the nasdaq. we've got a list for you headed by american airlines, for heaven sake, down 5%. look at tesla, down 5%. baidu, down 4%. united airlines down 3.5%. there's some serious movers to the downside there on the nasdaq. and there's this, president biden is sending senior officials to the border. this comes as we see a surge of unaccompanied minors arriving there. tom homan joins us now. tom, they won't call it a crisis, so why are they sending a team down there? >> well, look, they're not calling it a crisis, they're not being truthful to the american people. it is a crisis, and the secretary who was the deputy secretary in fy-15 when we had a crisis, 1,000 a day was called a crisis. the other day they arrested 4700 in one day, four times the

crisis. it's a crisis, they're not being truthful to the american people. they should if they were telling the truth, they would say we purposefully took away the trump policies piece by piece, so now we have an unprecedented surge which is bringing more people illegally into the country. that would be a truthful statement. stuart: you know, tom, what drives me crazy here are those youngsters. can you imagine there are 14 and 15-year-old girls unaccompanied, arriving at the or border, and they're gone to be farmed out across america. i don't know where they're going, i don't know who's picking them up, i don't know what's happening to these kids. i think this is a disgrace. this is an absolute tragedy in the making right here. do you know where these kids are going? >> no, they're going to hhs, but then then send them out to sponsors or parents who paid to have them smuggle here. so the government will finish

the conspiracy by delivering the children. look, everybody says tom homan's a bad guy, and that's why i lost my temper the last couple hearings because i said people are going to die with this kind of strategy. children will be hurt, women, 31% of women get sexually assaulted making this journey, and it's already started. we had that suv crash in california where 13 died. you can't make these type of enticements and have people come across uncontrol. people will die and children will be hurt. stuart: that's the point, isn't it? they've been invited in by this administration during the campaign and after the election. they were invited. the way was cleared for them. and i want to pick up on your point here. the cartels, they're making a fortune, right? >> let me -- the biggest session baiters of the election were the criminal cartels of mexico because based on the premise that joe biden made during the campaign, they said, hey, we're

back in business. so they're making millions of dollars a day. and, you know, because nothing happens on the northern border without the cartel, first of all, the drug cartels get a piece of the action. they work true the plazas while paying them off. their making millions. so the enticements and promises made by the biden administration has caused this surge, and that's the truth. and when they're asked that question what's causing this crisis, we did. that would be the correct answer again. they've caused this i crisis. it's not by accident or incompetence, this is by design to fold to the left on open borders. stuart: i don't see anything being done about it in the immediate if future. tom homan, we do appreciate you telling us how it is. we like that. thank you, tom. best to you. >> thanks for having me. stuart: all right. a complete change of subject, why not? the pope has arrived in iraq. it is a three-day visit. my question, susan, is why iraq?

susan: many reasons. he wants to end violence and extremism, foster peace. we know iraq recently the target of iranian heavy missiles. now also, this is the first international trip for the pope since covid9 and the first ever to iraq. he's being protected by 10,000 iraqi security forces and round-the-clock curfews in the country to make sure the pope is safe from any extremists. pope francis is also trying to bridge the connection between the different factions and religions. he will celebrate mass at a stadium in i biel in the north and pope francis also said iraq's dwindling christian community should have a more prominent role as citizens with full rights, freedoms and responsibilities. did to you know iraq has one of the oldest crisp chan communities in the world -- christian communities in the world, stu? and the numbers have gone down over the last two decades to roughly a quarter of a million which is less than 1% of the population. stuart: they've been terrorized

occupant, -- out, i suspect. i'm glad to see the pope being there to offer at least a degree of support. susan, thanks very much, indeed. now, congress is going to be voting on a union reform bill. susan, this is yours. this is the about -- this is aimed, this union reform bill, i think it's aimed at the gig economy. susan: that's how people are taking it. it's called the pro act for short, and it could effectively eliminate independent contractors and, yes, decimate the gig economy. we're talking about the uber drivers and the ins cart workers, and this would affect everybody including freelance journal is. so the pro act would give unions more power across the country by altering how employees are defined which means crpters, these independent contractors would be entitled to benefits and higher wages. but they also, here's the catch here, they would also have to pay union dues. and the pro act likely to pass the democratically-held house,

yes, questionable in the senate. but critics say this is all about the unions trying to get more money. stuart: kill it, please, so we can make our own decisions about how long we want to work, where we want to work, what hours we want to work. susan: yeah. stuart: freedom's a wonderful thing. susan: if you talk to any gig worker, that's exactly what they want. stuart: what country is this in let me change the subject. [laughter] royal drama. meghan markle and prince harry accusing buckingham palace of spreading lies about the duchess. that's meghan. what the royal couple is actually saying after this, plus, more trouble for new york governor cuomo. "the wall street journal" and the new york times reporting cuomo's advisors authored the report on covid nursing home deaths. tammy bruce sounding off on that after this. ♪ ♪

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i'm telling you, the stocks are all over the place today, real volatility. and look at tesla. i think this is -- it dropped below $600 a share, it's now 581. that is a loss of 6%. that is a very significant loss. i'm not sure what the individual reason is, for this stock to be taking it on the chin like thist is, but it's at a three month low and way below the price at which it entered the s&p 500. that's the markets, all over the place. let's get to politics. real trouble here for new york governor cuomo. yeah, as of this morning there are reports that aides altered nursing home deaths, and now one of his former aides is speaking out about sexual harassment allegations. alex hogan has the full story for us. alex, what's the young lady saying? >> reporter: hi, stuart. well, charlotte, as you mentioned, one of the former aides of governor andrew cuomo,

she spoke out last night saying ap apology simply is not enough. she's one of the three women who is accusing him of either sexual harassment or inappropriate behavior. >> then he explains at that point that he is looking for a girlfriend. without explicitly saying it, he implied to me that i was old enough for him, and he was lonely. >> reporter: the other controversy surrounding cuomo's administration is the handling of nursing homes during the pandemic. "the wall street journal" is reporting that cuomo's top advisers convinced state health officials to alter numbers in last summer's report on nursing home covid deaths. that changes, quote, reveal that the state's fuller accounting at facility nursing home deaths as early as 2020. the health department resisted calls by media outlets and others to red.c. the data for

another eight months. in january new york's attorney general found the state underreported deaths in long-term care facilities by as much as 50%. the governor's office is responding to last night's report saying that it left out patients who later died in hospitals because the department of health could not verify those numbers. while more than 15,000 new yorkers died in long-term care. now, there are two separate investigations, of course, one into the nursing home deaths and, of course, an investigation into the allegations of these women who were who are accusing him of sexual harassment and unappropriate behavior. now, today is also the day that the new york state legislature could likely vote on whether or not to strip governor andrew cuomo of his pandemic emergency powers, of course, something that we will be watching today. stuart? stuart: got it. alex hogan, thank you very much, indeed. appreciate it. all right. i want to bring in tammy bruceen on this. tammy, what does this scandallal, when it's -- scandals plural, actually.

what does it tell you about the democrat party? and, tammy, i ask because if cuomo was a republican, he would no longer be the governor. he'd have been out weeks ago, am i right? >> i think that's fair to say, absolutely. and this is what is, should be concerning to all americans, certainly democrats in general, is that this is a crisis of character. this is a man who's been the governor of new york for ten years, had a federal position as the secretary of hud with clinton and was seen as the rising star, maybe the attorney general for joe biden. certainly future presidential material. and this is who he is. and i think he's perplexed because he has been protected for so very long. and it tells you the general corruption and what someone like that who is a leader in the democratic party, what they expect, how they behave. in other words, you can't have a

nursing home -- well, it's more than a scandal, it's massive death because of a specific order of someone who, when he saw what was happening -- and how could you not know, this is like throwing a match into a dry field of grass. when you would know what would happen and then you just think you're going to be covered and protected. of course that attitude is going to affect everything else. the story in "the new york times" will have a tremendous impact because it confirms that they knew this was happening earlier, that the effort to cover it up was multipronged, people were under pressure, there was intimidation, people were afraid of losing their jobs, and it was at that point that he decided he was going to write his book lauding himself for being such a good, you know, governor of new york for the virus when he knew this was happening specifically because of it. so this is about the nature of democrats' i would say leadership overall. they've known this man for

decades. they're known -- people say, just like we've heard from all the sexual harassment scandals, well, everyone knew. but when you've got this of course it affects everything else when it comes to policy. what else has this man done to this city and state that he's lied about? and there's a poll that still says the majority of new yorkers don't want him to resign, but don't want him to run again. but that was before the ney times and the "wall street journal" -- new york times and the "wall street journal" story detailing the degree to which they scrambled to high to the people of new york and the people of the country. stuart: what a story. tammy bruce, thank you very much. >> it's amazing. stuart: we appreciate it. it is. >> thank you. my pleasure. stuart: if you'd told me a few months ago we'd be talking about this at this level, i would have said that's out of the question, but it is happening. tammy, have a great weekend. see you later. i'm going to read directly from the item prompter, d teleprompter, okay?

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♪ stuart: there's one indicator that's really moving told,s and that is the nasdaq. i believe it is now in correction territory. technically, that means it's lost 10% from its previous high. i think we're there right now because it's down 1.5%, 177 points. it's back to 12,500.

big tech, again, all of technology taking it -- i hate the expression, but taking it on the chin yet again. we're following that closely. and then there's this, do you remember this? packed beaches in florida during last year's spring break. it's that time of year again, and we're told that state officials are gearing up for a big influx this year. well, the one and only phil keating is at the beach in fort lauderdale. hey, hold on a second, phil. i recall in previous years the authorities in fort lauderdale didn't want spring breakers and discouraged it. now they're facing a surge. what are they doing about it this time? >> reporter: about 15-20 years ago the city leadership and the chamber of commerce decided we don't want all the college crazy kids, and they started marketing more for families. but, clearly, college kids are still coming down here. florida's $90 billion a year tourism economy feeds on the sunshine state's warmer

temperatures, and spring break itself also a big moneymaker. after a year of pandemic, spent-up demand -- pent-up demand, young people are coming back to the beaches. >> yeah! >> reporter: while spring break season has arrived, concern is high among south florida leaders that a lot of spent-up demand to party and socialize could fuel covid spread just like it did last year before the beaches closed and effectively killed spring break. one thing's for sure though, miami beach, strict rules. there's a midnight curfew, no coolers a allowed and arrests and citations will be made. >> if you're coming here to go nuts, if you're coming here to let loose, if you think anything goes is what we want, you're very mistaken. we have lots of rules. >> reporter: so far the crowds of kids are not as big as years

past, and many of the tourists you see are not on spring break, just people taking advantage of the warm weather and, for the most part, everybody's spacing out on ocean drive and the sand. those we spoke with seemed pretty responsible for the most part. >> yes, i want to go out, i'm dying to go out, but i know i can't. so i'm going to be in the house. we can be son-in-law for now and -- responsible for now and then in a couple months we can party. >> reporter: here in fort lauderdale the rules are not nearly as strict. there's absolutely no curfew here, so all of the bars and restaurants lined up along a1a here, as the afternoon rolls around, they will be getting crowds. back to you, stuart. stuart: actually, phil, we could hear the partying that's already started in the background. that's why you kept your report short, so you could join it as soon as you're finished with us. off you go, phil -- >> reporter: that's right.

stuart: have a great day. now let's get serious. we'd better look at that market, please. down 160 now on the nasdaq. susan, the movers, please. susan: are you making fun of the way i say market? is that what you're saying? stuart: certainly not. [laughter] susan: so, yes, let's check in on the stock market. americans apparently are buying more clothing once again. the gap is getting a boost because they want to look good going back to work in person and back to school, and we know that gap is recovering and forecasting recovery in apparel sales. costco, your favorite retailer, supply chain issues meant higher costs resulting in lower salessen than what wall street had forecast. still, though, a huge jump in bacon demand, up by 45% in this quarter. that was interesting. more shopping online as well, almost doubling. and let's get back to that correction for the nasdaq that we're seeing, down 10%.

take a look at the bear market for a lot of these big tech names. you know, apple's down again today, invidia shelling off sharply, and amd, paypal also down over 23% so far. tesla, wouldn't you say, stu, is probably the biggest loser right now? i think we're closing in on almost 40% town from its $900 peak. stuart: yeah. last time we checked we had tesla way under $600 a share. susan: yeah. 580, 570? stuart: that was moments ago. you're right, i think as of now you've got tesla down close, close to 40% down from its recent highs, $900 a share. that's really an extraordinary move south. can't explain it but it is happening. [laughter] okay, now, susan, hold on, this is for you. this one's for you. chipotle. remember that story that just popped up on my teleprompter here? susan: yeah. stuart: chipotle getting into

the makeup business with guacamole. this one is for you. susan: i know you love your lip gloss, so it might be for you as well. [laughter] yes, stuie? yes? oh -- [laughter] all right. sorry. stu, let's talk about guacamole. [laughter] look at these colors. isn't it fascinating? very tempting, isn't it? this is the collaboration we were talking about with chipotle teaming up with e lf, which is a makeup retailer, and this will launch in five days. you can find the burrito-inspired makeup collection, $16 eye shadow, 12 shades inspired by tobacco mole -- guacamole and salsa. you also get salsa lip gloss, some chipotle-inspired sponges and bags. enticing for you? stuart: no. and i'm going to leave this story entirely with you. i'm not touching this with a

10-9 foot pole. susan: yeah. what i'm concerned about is whether or not the makeup smells like guacamole or any of the ingredients. i would have a problem with that. stuart: so would i. [laughter] all right. this is another one for you. meghan markle responding to accusations that she bullied staff members at buckingham palace. that's serious. what is she saying, susan? susan: she's saying that they're all lies, perpetuating falsehoods is what she said in that oprah interview. prince harry also participant of this collaboration, comparing their treatment by the royal family reminding him of difficult times his mother, princess diana, went through. >> my biggest concern was history repeating itself because i can't begin to imagine what it must have been like for her going through this process by herself all those years ago. it's been unbelievably tough for the two of us, but at least we had each other. susan: unbelievably tough, stu.

i would say that unbelieverly tough is probably making less than minimum wage, trying to put food on the table for a family and a roof over their heads, but, hey, i guess everyone has different definitions, right? the relationship between prince harry and meghan and the royal family described as at an all-time low. cbs will be airing this interview in the u.k. as well despite the fact that prince phillip, as you know, still recovering in hospital, 99 years old. stuart: i just wonder what the response of the brits will be when they see that interview. i have no idea what the response is. i don't think that meghan and harry are that popular any longer in britain. susan: yeah. stuart: i think the sentiment is very much with the queen and her family's side of it. susan: right. and there's a battle over branding, as you know. because they are part of the royal family. some would say that they won the genetic lottery, prince harry did, by being born into the family. should he be allowed to make

hundreds of millions of dollars in commercial contracts off the royal family's branding. stuart: well, that's one thing that you do not do if you are a royal, you don't use your position and your title to make money. susan: yeah. stuart: that's not what you do, and i think that's what's making him particularly unpopular in britain. all right, super, i think we've discussed -- susan, i think we've discussed that one enough. i'm sure we'll get back to it. the sports streaming site, fubotv, it started trading in october and has been a wild ride ever since. i think it's one of those reddit meme stocks, actually. i'll certainly ask the ceo about it because he is on the show coming up shortly. first though, should regulators take a look at elon musk's bitcoin betweens? we have a block chain ceo here momentarily to make his case. ♪ -- forget about the prison

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now, there are some big losers among the dow industrials which are accounting for much of the overall loss. boeing and goldman sachs, both big losers. together they are shaving about 55, 60 points off the dow industrial average. interesting. bitcoin, where is it now? moves all over the place. $48,000 per coin. so let's bring in sebastian seem kousky, he is the ceo of klana which is a big payment system. sebastian, i want to talk to you about bitcoin and elon musk because you don't approve of what elon musk is tweeting about bitcoin. that's making headlines here. what's the problem? [laughter] >> well, i think it's not entirely accurate what i've said, but, you know, there is some evidence that anarchy is a great way for humans to work together, right? most people in all parts of politics would agree that some enforcement of it helps.

that said, unfortunately, regulation has many times been used to protect the establishment, and the everyday consumer is losing out on that, right? so there are places with too much regulation, and even worse there's a lot of bad regulation out there. on bitcoin what i really said was that, you know, most of us seem to agree that when we buy food today, there's some information telling us what we're buying so we can understand the risk of it, and we have agreed in society the same is true for stock and other financial products. there's some level of information of the risks you're taking. unfortunately, you know, today doesn't comply when people advertise bitcoin. i think if we agree that makes sense, we should probably follow it for all financial products. stuart: i would agree entirely. my question is does bitcoin and the other cryptos mess up klarna, your payment system? >> oh, no. the opposite. look, ooh i've been -- part of the whole idea has been to go

after the bank establishment. this is an industry that, unfortunately, has lost sight of the customer for many, many decades, and it really needs competition, it really needs challenging. and that's what i, you know, what we're trying to do with klarna. we're going after credit card companies making too much revolving 29% enter rates, terms hard to understand, and i think bitcoin could definitely be it, could be one way for us the challenge this industry. but at the same time, we've agreed that we want to make sure that when you buy financial products, it comes with some information about the risk. and i just think that's fair for bitcoin as well. stuart: and i think klarna is valued at, what, $33 -- 31 billion, is that accurate? >> latest financing, yes. stuart: i think you doing well. ing sebastian, thanks for being with us this morning. we appreciate your input on the veracity of financial products. very important stuff. thanks for joining us from klarna, we appreciate it. and we'll see you again soon.

>> thank you. stuart: coming up on 11:00 a.m. eastern time, not quite there yet. we have got the ceo of the streaming site fubotv, david gandler will be with us. kayleigh mcenany, first appearance on fox business after leaving the white house, liz macdonald, all on the show. plus president biden, he may call it neanderthal thinking, but opening up is working. i'll explain that in my take, top of the hour. ♪ ♪

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the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq >> washington and the bidens are in denial how strong this economy is underneath it all, retail, housing, construction and so forth. jobs are going to get better and better. stuart: >> for the first time ever, average hourly earnings broke above $3 per hour, healthy gains by personal income that will be supporting spending moving forward. >> i am in the camp that says inflation will rear its ugly head and suddenly surge.

>> rotation is normal coming out of a recession. you usually do see them start to outperform. ♪♪ dance dance dance ♪♪ good times creeping up on me so ♪♪ dance dance in and ♪♪ all the things i should do ♪♪ stuart: a little justin timberlake. we had lots of beatles and stones, why not just in timberlake? it is 11:0 one eastern time friday march 5th. what a turnaround for the markets. we have the nasdaq down 180 points, one.4%. very strong jobs report this morning but the yield on the 10 year treasury moved up to one.6%, backed up a bit from there but that rising long-term interest rate structure upset the nasdaq in particular which

is way down. now this. president biden may call it neanderthal thinking but opening up state economies sure seems to be working, lockdown joe is stuck in cautious modes. he doesn't want to give any credit for this boom to mister trump but there is clear evidence of a trump inspired economic boom. i don't care of today's jobs report didn't meet analyst expectations. it will accelerate in the spring. consumer spending is picked up and we have $1 trillion in the bank to fund more spending. real estate is booming. whether the president likes it

or not, congregating in groups again, sporting events opening to real spectators in the stands. there are two things that are helping the situation. we are vaccinating 2 million people, 2 states dishing restrictions. i can see that happening. animal spirits are raging. is legitimate concern about over inflation, long-term interest rates, and the stock market has wobbled. and fewer covid deaths, the stage is set for a strong expansion. who knows if it continues and nephew 2022. let's give credit where credit is due. the credit belongs to donald trump's economic policies, the

warp speed vaccine development and credit belongs to brave state governments who booked the lockdown trend. ♪♪ stuart: there she is, liz mcdonald is back with us. good to see you again, booming economy, things will get better, donald trump should get a lot of the credit, you want to argue with me? you want to say i am wrong or what? liz: i am not going to say you are totally wrong. i would never argue with you because i agree with you. we are a year into this. the american people know what is at stake and what is at risk for covid and yes, we are poised for good solid recovery.

leisure and hospitality, when it comes to government spending, the economy is taking over and look at this, the news is coming the gavin newsom is going to reopen the economy for gatherings, things like restaurants, movie theaters, even sports stadiums. we are seeing 16 states with no mask mandate already, more states are lifting the mask mandate. that is a bone of contention but big box stores like home depot, cvs, kroger, are saying to where the masks when you come inside our stores. starbucks is saying that too. the american people have been at it for your, they get what is at stake and are saying let common sense takeover, let us take the reins.

stuart: glad you didn't disagree with me. i want to show you a poll, a quinnipiac poll, extraordinary stuff, 40% of new yorkers think governor cuomo should resign. 59% think he should not run for reelection next year. with this be a completely different story of cuomo were a republican? liz: yes and it would be a completely different story if that poll was taken today given the news out there that the new york times is reporting the wall street journal that governor cuomo and his team panicked in june of last year seeing the spike higher in nursing home disconnected to his executive order pushing patients back into nursing homes you can't test for them either a so now it is coming out the july report, cuomo's aids panicked, got alarmed, 9600 death, saying we will take outpatients who died in hospitals from that tally.

cuomo's team saw new jersey's numbers, the new york numbers are higher than states like new jersey. they want to look better by doing it that way, not counting hospital patients and cuomo was touted as an international celebrity at that time, fowler rising himself as a leader, during the pandemic. the doj, the fbi, investigating cuomo. he should resign. he was the only one in the country to knock out nursing home patients who died in hospitals from that number and this whole investigation, looking at new jersey, michigan, california,

pennsylvania for putting patients back into nursing homes and not separating them in the from the entire population. we have never seen a story like this. he blocked for eight month the data from resisting the data to lawmakers, he also believed people. he threatened to destroy people when asked questions about it. this is an ongoing story. we will stay on that and also the sexual-harassment story is a big one. stuart: that is breaking open as well. we will be watching you tonight, the evening edit, 6:00 pm on foxbusiness. i know you will give us more on the developing cuomo scandal. thanks very much, see you soon. let's get back to the markets, the financial markets. we have a very strong february jobs report, 379,000 new jobs added in february, unemployment rate down to 6.2% and there were 355,000 new jobs in entertainment and hospitality. that tells you something. that gentleman right there,

robert basso, joins us now. i think this economy is booming, i think we will have a better economy come spring and i want to ask which jobs, what kind of jobs are going to be opening up big time this spring? >> let's not get hung up on the fact we missed the mark a little bit. this 379,000 jobs is a phenomenal report coming off of 49,000 in january. hospitality is going to be booming, summer jobs are going to be booming all the way from the midmarket companies to small enterprises like jack and jill ice cream, your mom and pop places will start rehiring, reopening, they are the driver of the economic engine and without them we have no chance to succeed. fortunately we have the american spirit and i am positive we are pulling out of

this, the vaccines are taking hold, they are saying potential herd immunity by the middle of may. i'm superexcited about this jobs report and we will have a great run. stuart: what kind of job opens in the spring when this thing gets moving forward? >> hospitality is going to be big and entertainment, sports stadiums are opening up and allowing more fans, more travel taking place. travel is on the way, we believe the strength are going to be in the hospitality area. doesn't mean some technology jobs are going to open, we will struggle on the higher paying positions across the country right now. we need to get every day americans back to work. stuart: thanks for joining us, we will see.

we've got breaking news out of washington. what is that? >> they cut the eligibility for the $1,400 check in the wall street journal, the headline just crossed according to their reporting, democrats in the senate have agreed to lower from $400 a week down to $300 a week. they will be extended an extra month due to september according to one house democratic aide being quoted here and the first 10,000 will not be taxable. reducing eligibility of $1,400 checks, $1,500 according to one analysis and jobless benefits going down to $300 from $400 extended in extra months. stuart: it could be we don't need all these emergency payments because we have such a

strong economy. let me get back to the big mover is here. i saw tesla go by, down 8.9%. >> almost 40% down but it is not just tesla, the other lockdown momentum when is coming off dramatically today. we are down 8%, crowd straight, square, these are dramatic losses you are seeing on a friday and we know wall street tends to sell off and don't want to have this type of risk, the stocks look more expensive when yields go up, on a 10 year treasury yields, you have to take money out of these riskier plays and it doesn't look as cheap as it used to.

where is the money going, i want to show you the airlines. the airlines and cruise lines are coming off. they have been outperforming on this reopening trade getting back to traveling like we used to. not the case today especially with cruise lines, norwegian is raising money and carnival and royal in the last few weeks. stuart: hard to wrap your arms around this market and what is going on because you have the airlines down, the cruise lines, those percentage losses are extraordinary, same with tesla with significant movement going on. thanks very much. next case, sports streaming getting into online betting. the ceo thinks that will attract hundreds of thousands of new survivors, jointly coming up shortly. remember when president biden said this on the campaign trail? >> if you have a problem figuring out whether you are from your trump you ain't black.

stuart: cabot phillips says if the president were held to his own standard he would be canceled for saying things like what you just heard. cabot phillips makes his case next. ♪♪ out of touch ♪♪ out of time ♪♪ it all starts with an invitation... ...to experience lexus. the invitation to lexus sales event.

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stuart: got to keep you in touch with the market and look at the nasdaq, it is now down 270 points, the slide in technology continues and that is a feature of today's market. big slide for the nasdaq and correction territory but that is official.

back to the company in illinois which is giving the jab to its employees. giving them the jab. here is grady trimble and before we go any further, please do not show me anyone who is getting the needle stuck into their arm. i have to look away and i don't want viewers looking away from this program. >> i believe it to your producers to make the call if they want to take it but we are in the warehouse where they process the food and get it ready so today about 80 employees, half of the workforce got there second dose is so they are fully vaccinated. stuart: i have lost audio. okay.

we lost audio. perhaps they were about to stick a needle into that gentleman's arm but we lost the audio. we got it back. >> reporter: morgan got a shot earlier. it is a relief for you that your employees are vaccinated. >> absolutely. we put face shields on and things like that, nice to look across them each other and know they are vaccinated. >> there are several companies doing this from american airlines, united, delta, jeep to the pilot where they dropped the vaccine, brought it to the job. would you advocate for this type of setup. so they see their workers getting it. >> they can feel better at the workplace, it is a complete win. >> and is a to do it efficiently. we saw a lot of people getting the vaccine today, 80 people and only 90 seconds each so it is very quick. stuart: that is a big deal, welcome development, thanks

very much, appreciate it. got to keep you in touch, huge loss for the nasdaq, that is in progress. and got to keep you in touch with that. >> if you have a problem figuring out whether you are for me or trump and you ain't black. >> there's a notion if you are poor you can't do it. poor kids are just as bright and talented as white kids. >> you can go to 7-11 or dunkin' donuts unless you have an indian accent. >> according to joe biden standards joe biden should be canceled. the author of that, cabot phillips joined me now. what we are talking about is a double standard. if joe biden were a republican he wouldn't be in office.

>> joe biden canceled dr. seuss because he said potentially offensive things in the past but if that is the standard joe biden himself should be canceled if you sat down 100 democrat voters and read them joe biden about you are not black if you don't write for the political party or need -- or what about barack obama saying barack obama is the first clean-cut articulate african-american on the national stage. all of those things american say cancel, that has got to be canceled but because it is joe biden, this shows how cancel culture is not about eradicating racism or offensive language from our culture. it is about eradicating ideas the left doesn't find acceptable and that is why they don't apply the same standards to both sides. stuart: but they are winning. the woke crowd is winning. they are putting people out of a job. they are ruining reputations

and i see no end insight. where's the turning point. when is it coming? >> the turning point is starting to come. we commissioned a poll of 1100 americans that just came out last night and asked about cancel culture specifically disney's cancellation, 50% of americans are less likely to purchase goods or patronize disney as a whole. 60% of independents say cancel culture has gone too far. 47% of democrats said cancel culture started to go too far so i think there's a growing number of people opposed to the idea of canceling people but are terrified of being canceled themselves if they stand up, being held hostage by a small portion of america that is running this but so many people are afraid to speak out. as this continues there might

be business impact where people stop patronizing businesses but americans on both sides of the aisle say this doesn't sit well with me, they may not be speaking on yet but waiting for more people to stand up so they can rally behind them against cancel culture because we need it. stuart: somebody has got to stand up later. thanks for joining us, see you again soon. i have some good video for you. look at that. this turns me on. those are astronauts conducting a spacewalk at the international space station. what are they working on? >> reporter: they are working on solar panels to supplement the iss's power supply. of space turns one, 236 spacewalks, nasa astronaut kate ruben, soichi noguchi carrying out the spacewalk. virgin galactic is down today

because it's chair, remaining $200 million of personal stake in the company, wouldn't you say this is par for the course where you have big fund managers that want to take their money out of riskier assets to preserve cash just in case. stuart: par for the course. you have seen it before and it is happening now. 19% down, that is a selloff of virgin galactic. youtube suspended donald trump's account two month ago and the ceo says it could be a permanent ban. i will ask kayleigh mcenany who is making her first appearance on this show shortly. stock started trading in october, a roller coaster ever since. you can thank the redit guys for that.

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stuart: the nasdaq is down 300 points and falling, close to 2% loss, major downside move and technology stocks in general. the dow jones joint in the selling down 130 points. a lot of red on the screen displayed a strong jobs report. we asked for someone from the white house, it is customary for the white house to provide a spokesperson when you got a big report like this one. we requested someone, didn't get anybody and heard nothing back but the white house did tweet this. it would take more than 2 years

to get back to pre-pandemic levels, that sounds like a pitch to get the $1.9 trillion deal going so it can stimulate the economy but my responses why not just open up and get the economy moving. let's move on to sub oh tv, $5 million, the tv cofounder and ceo. you just acquired the big betting company, what is the strategy, what is victory going to do for you? >> we have acquired a fully functioning sports bra which allows us to create a more immersive video experience where you are watching sports and you can engage skin in the game when following your favorite team so we think ultimately that improves engagement, improves retention,

drives more viewership hours, which drives more advertising, a really solid flywheel, it is good revenue stream that could replace the old bundle driving a lot of value for the triple play. one that can create favorable -- stuart: i follow your stock and i watch f you be so tv --fubotv. what i see looking at your stock, it is behaving like a redit start, up in the redit frenzy, what do you say to that? >> i will say what you said in your last segment. there is already on your screen. rates creeping up, impacting growth stocks but that doesn't take away from our business.

we have been public for 3 quarters now. we raised guidance three times. we have exceeded all our kpis, market share continues to grow and looking at net additions in the fourth quarter, we came in a number of 2, 92,800. it is a big move for us, we are growing company and we don't look at the short-term turbulence and we focus on long-term strategy. stuart: you are hoping to get 770,000 subscribers in total and the victory purchase will help do that? 3 quarters of 1 million? >> that is our strategy and we are confident given our results that we will be able to obtain those numbers.

the victory apps will rebrand to create that unique experience. stuart: sorry i'm out of time but a pleasure to have you on the show. can't wait. see you again soon. there is a lot of red on the screen today. for the first time in a year new york city movie theaters can reopen. this is in times square, new york. they can open up to 25% capacity. can they survive on that? >> reporter: probably not. that's not enough to help the editors survive, the 25% capacity will keep the regal cinema chain closed, saying they will wait to open across new york city until the capacity restrictions lifted to

50% because then they will, quote, operate profitably. we are standing in the concession area in the times square location. amc is opening all of its peers across the city but patrons should expect a different experience, the new cleaning protocol, mask requirement and capacity limit 25% still cannot exceed 50 people. amc reopened half of its theaters in the fall, so reportedly lost millions per month because a lot downs, several movies had to skip the theaters, they went to direct streaming services. wonder woman 1984, has been out from an streaming on hbo max was one agency and decider expects this to be the new normal. >> that is something that may not change a whole lot going forward. hollywood was already shifting this way wanting to get movies

to their own streaming platforms faster and faster and the pandemic allowed them to speed up the process quicker. >> it should be noted the redit trading controversy we've recently seen would help amc said there sites on amc stock. the company should $600 million of debt, white is still operating now. stuart: thank you very much. i am staying on the whole cinema business and found some green, a sea of red on the stock market. green is up 9% on imax. what is the story? >> back to watching movies on the big screen and in imax's

case the huge screen. they said sales are helped by stronger performances in asia particularly in shine as the company looks, consumers return to theaters. they lost more money in the final quarter of last year but sales did come in higher and china is the world's largest movie market, and hopefully with vaccines rolling out in the us and more screens opening that helps the bottom line as well. stuart: thank you, president biden took the oath of office 6 weeks ago, still hasn't held a solo news conference and this is what the white house team is saying about it. >> we will schedule it and you will be the first to know. your pivotal purchase ends on that. stuart: you will be the first to know. haven't got a press conference yet, it wasn't like that when kayleigh mcenany was in the

white house. a press conference coming up, yes or no? she joins us next. ♪♪ i know what you are thinking ♪♪ i don't need a reason ♪♪

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stuart: they didn't start out with red. 359,000 new jobs created. and it is down a few minutes, and all across the board a lot of red for big tech.

tesla, look at tesla. that is a 10% drop today, 558,$000 a share, not long ago it was $900, 556 now and falling. everything is down including bit coin. last time i checked it was 48,000, now it is 47,000 and change, down 2 persons, lots of red today. >> happy to take questions. stuart: that is coming in my ear. that is called bars and tone. it means we are cutting you off right there. the president cut off before he could take questions even from his own party. look who is here, former white

house press secretary and new fox news analyst kayleigh mcenany. where have you been? let me get some comment here on the president's failure to hold a formal news conference. has to hold a news conference at some point. >> absolutely, pressure is mounting when you have even left-wing outlets calling him out for this but extraordinary that he hasn't taken, 100 year record for not taking questions from a sitting president but it is not unprecedented. the basement strategy, he went 50 days and only 2 questions twice and when he did they were

hand-picked questions. the staff does not have faith that he could stand at the podium and have a press conference the way donald trump did many times. stuart: they are protecting him. they are protecting the president from himself. they don't want to see him stumble over words, get confused, lose his train of thought as he may will do if he were subject to the rough and temple of a real press conference. they are protecting him i think. >> i think that is exactly right, you hit the nail on the head when you mentioned his staff. use our president biden say i am happy to take questions if that is what i am supposed to do. i see jeff back and forth with peter doocy and seemed to relish the moment a little. i don't think this is president biden saying i don't want to do this, those around him recognizing when he does speak it doesn't always turn out so well like calling republicans neanderthals as he did recently in the oval office. stuart: i am concerned about the silencing of donald trump. youtube's ceo explaining why his channel will stay suspended. role tape. >> the channel remains

suspended due to the risk of incitement to violence. we will lift the suspension of donald trump's channel when we determine the risk of violence has decreased. stuart: i wonder if you have spoken to donald trump recently. what has he got to say? >> i spoke to him this week. i spoke to him in the wake of the twitter band. he said it was freeing not to have twitter, a lot of time on his hands. he is doing fine without social media but what a travesty, this culture, root someone out of the public square. this is about stopping violence, this is about stopping trump, stopping his ideology, his movement by removing him from society. we should all stand against it. date is donald trump they are going after, tomorrow another member of the conservative movement, it is because one person, a behavior pattern that should not be tolerated in the united states of america. stuart: do you see any sign

that there's a turning point in can cell culture. >> folks stood firmly against it. senator josh halley, ted cruz and others. that unwillingness to back down has made a difference and it is coming full circle. we saw the censoring of the dr. seuss books, we got to a point of craziness that the average man and woman doesn't want to be part of. stuart: is great having you back, don't be a stranger, you been on this show close to 10 years so come back soon. >> i will always come back for you. stuart: see you again soon. last week on friday feedback i remember distinctly you asked for more stones, more beetles music and we gave it to you. stay tuned for this week's friday feedback coming up

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12:00 noon on friday. that is the statue of liberty. how apt to kick off friday feedback. first question from edward lawrence. love the program. i'm curious what english premier league team you support and why and additionally what team does susan support and why? is this our own edward lawrence? i knew it was you. i will answer the question first. liverpool, difficult to support liverpool because they lost five consecutive home games but i am sticking with the rest. who do you support? >> crystal palace sounds like a restaurant. stuart: crystal palace? right. you just like the name. >> this is where you should be supporting chelsea.

from hershey, pennsylvania, american, i couldn't do that, i was helping a friend from devon which is a big chelsea enclave in the united kingdom. big chelsea fan from a long time. stuart: chelsea crystal palace liverpool. we will leave it at that. another sports question. now that spring training is in full spring and opening-day is less than 30 days away i would like to know if you all follow baseball and if so what are your favorite teams. i don't follow baseball like i used to. we would throw a ball in the last backyard, and back to premier the soccer. >> what happened to edward? thought he was sticking around. i like how much new yorkers hate the boston red sox.

this intense hateful rivalry. stuart: you get off on hatred. that's very interesting. i will try to remember that. >> i like passion, energy, history. stuart: ken halsey says don't miss your opportunity to get rich before it goes to the moon. crypto is the wave of the future. don't get left behind. this is obvious. >> we were talking about that earlier this morning with dallas mavericks and mark cuban saying he will expect payment for merchandise and tickets. like our crypto currency is, the long-term future more usability. short-term the yields affect all risk assets. stuart: are you going to buy into crypto? >> the coin if it gets back to 30,000 i would be tempted.

stuart: i will leave it right there. this comes from leon. i agree with you you won't catch me in an electric vehicle. let me straighten this out. i am thinking of getting an electric car. these things really move, you put your foot down and the car seriously moves. a turbo took off and i am too old for that kind of acceleration. test it again with an electric car. >> did you have a minivan? i heard that rumor. got time for this.

this is from -- never made it to lauren. cherry wrote this, she had a baby. spending time with a lovely child there. you are not forgotten. thanks to everybody who sent the message, thanks for asking accurately, more varney after this. ♪♪ forever and ever ♪♪ together ♪♪ together ♪♪ that is how i see it because when it's decision time, you need decision tech. only from fidelity. i'm a performer. you need decision tech. always have been. and always will be. never letting anything get in my way. not the doubts, distractions, or voice in my head. and certainly not arthritis. voltaren provides powerful arthritis pain relief

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♪ stuart: 8:30 eastern, big jobs report. very strong. 9:30 eastern, the market opened on the upside, very strong. almost 12 noon, most of the market is down. where do we close? i haven't a clue, but neil cavuto is going to take you through the day. what have you got, neil? neil: all right, stuart, thank you very much. have a very good weekend. well, we are off on the dow, at least there is that to report right now, it's really a tug-of-war, if you will, stuart, between what's happening in the bond market, what's going on in stocks. yields are coming down a little bit from the highs this morning when we got well over 1.620% on the 10-year, you're looking at now 1.56%. but this back and forth has a lot to do with whether people park their money in the relative safe security of a treasury or in stocks. it depends on where we go. but the lower that goes, the better it looks for stocks, and for the time being it's l