reminder? no, no no, i'm good. uh, yes please. oh. ho ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com. maria: have a great thursday. thank you for joining us i will see you tomorrow. "varney & co." begins right now. take it away, stu. stuart: good morning. i love the rally. more record highs on the way and talk about a rebound for technology. at the frenzied stocks are frenzied in interest rates are down. left hand side of the screen the dow jones up close to 100 at the opening bell, but the nasdaq, a 200-point game. we have a rally. gamestop price this point premarket, $247 per share, down 6%. incredibly, gamestop lost 40% of its value in

25 minutes yesterday afternoon. we will try to tell you what happened. roblox, the gaming platform and game creator straight up yesterday after its direct listing and of another 12% this morning premarket. i guess that makes it a successful unicorn so far. watch out. today is the day when it hits the market, south korea's amazon. big deal, could be another big-time unicorn. bitcoin relatively quiet, certainly compared to the frenzied stocks holding around $57000 per coin this morning. long-term interest rates , this has been moving the market. long-term rates dropped below 1.5% overnight hitting 148, bounced back to map 1.51% as of now. this reflects a sensation year and is good news for the stock market. that is money. now this: the massive

1.9 join dollar covid relief package has passed congress. it will become the law of the land. in my opinion, i think it's a giant slush fund supporting left-wing programs for years to come. it is one years since lockdowns and stay-at-home orders began. where are we now? opening up rapidly as the answer. today we will ask how last year has changed her life. thursday, march 11, 2021, "varney & co." is about to begin. ♪♪ stuart: i have the tiger? may be. look at the markets roar the markets are rolling. we are officially one

year out from the start of the pandemic. a year ago we were all advised to stay home, lowered the curb, restrictions on everyday lives were in place and you are looking at the left-hand side of your screen at fifth avenue new york city, seems like if you are in new york city we are in the middle of the pandemic lockdown with six avenue deserted but now there are more and more openings each everyday. new york and new jersey lifting restriction starting march 19 allowing indoor dining, but just at 50% capacity, nonetheless that is the movement opening. movie theaters in la could reopen as soon as next week with heavy restrictions that may have been. bottom line, we are reopening fast, so why do we need trillions of dollars just as the pandemic wines it down? we will try to answer that throughout the show. this may be the stock of the day, maybe, south

korea's amazon. i can hear susan laughing. it will make its debut on the new york exchange today. good morning. susan: good morning. stuart: why are you laughing? susan: it's the way you pronounce it. there are different ways to call it. in america it may be differently from south america, still the amazon of korea, amazon, door, instacart combine. they deliver everything, the largest ipo of the year so far in new york and it's the biggest for the company says alibaba record-breaking ipo in 2014. demand is strong. they are pricey shares at $35 apiece above the already raised price range showing a lot of demand out there and it's worth $60 billion, more than six times what it was worth three years ago and they are still losing money, that they

narrowed the losses last year to half a billion dollars, but investors would be brine into a growth stock that dominates over quarter of e-commerce market, one of the 25 largest ipos ever in the us. stuart: i'm getting on at: on your voice their. i hope the audience doesn't hear that because it sounds like you are laughing your way through. however, let's talk about roblox. it went straight up yesterday and i believe it's up this morning another 11%. this must have been the creation of a couple of instant billionaires, susan? susan: already on paper he was anyway heading into this directory listing. david, he shares her with five and have billion dollars. ceo and founder of the kids videogame platform. the stock finished up over 50% in its first day, up 11% in the premarket, not cheap

given the company is now valued at over $45 billion and change about more than 10 times at what it raised cash at last you roughly run this time in february, 2020, still losing money but growth is huge with daily active users over 32 half-million. that went up by over 80% during the pandemic last year and that shows that there's a time of cash willing to go in by in especially with these new economy new players and technology. stuart: thank you, susan. first of all, look at futures. you will like what you see with plenty of green especially the nasdaq of 220 points from the get go. dr barton joins us right now. it looks to me like there is more money being jammed into this economy than world war i, world war ii or the-- crash of 08 with a massive influx of money. this has to be a huge

boost for wall street. is that what we are seeing? >> it really is, stuart. we talked last week about the big pullback in the nasdaq that just a day later became a correction. we had one of the fastest corrections that we have had in the nasdaq with all-time highs, but this money is going to help us continue what we have seen before in the nasdaq and that's one of these really fast corrections, this 115 days, six months later 90% of the time, 10 of the last new line times we have gone up and we have gone up an average of 23%, those this is a knee-jerk pullback that's going to ride higher with as you say all this money pouring into the market. stuart: does this go on forever? i mean, every time in the past four, five, six years technology takes a little bit of a selloff and many by the tip end

up it goes and you are saying the same thing happened again now, i mean, does this game of buying the big-- big tech dip ever stop? >> years when it stops, stuart, when we stop seeing amazon and microsoft and facebook and google put out big double digit year-over-year revenue gains. when they stop outgrowing everyone else even though they are the biggest companies, when they stop outgrowing everyone, that's when you don't want to buy the dip anymore. until then, they are winning the game. stuart: we are at 32000 on the dow jones, close to 13000 on the nasdaq. about a hundred points away from 4000 on the s&p. are we going to break through all of those levels in the immediate future for a slew of new highs? is that where we are going? >> that's where we are going right now and i think with the stimulus money coming through, i

think we will see that money being put to work like we did last time to we might get some brand-new stocks, brand-new short sold stocks that will take off with this money coming in, but i believe that many will find its way into the market very quickly. stuart: looks like it's happening right now. d.r. barton, you have been right about by the dip for five years. d.r. barton, thank you. i went a fast check again. its downy%. $241 is your quote right now. it hit a record high of $348 yesterday and then in 25 minutes it dropped 40%. and you explain what happened? susan: 348 was the highest since it hit $500 at the end of january during the height of the reddit rebellion.

talking about seven trading halts yesterday, for on the way down and three on the way up, the most trading halts we've seen for gamestop since the reddit controversy at the end of january so this volatility shows just how much retail trading is driving this stock and also the heightened use of options which are contract to predict the future price of the stock weather up or down. still, six straight games-- days of gains, up 13% so by this and holding up during last week's nasdaq selloff wears other name favorites were actually selling off along with the tech heavy index, but still if we can bring up the other plays seen some lower trade premarket today. stuart: thank you. i can see gamestop at 241. okay. checking futures, please. you will like with plenty of green.

remember when then candidate kamala harris made this a big thing of her presidential campaign? roll tape. >> when i have fought in those courtrooms it's been on behalf of sexual assault victims. fighting for sexual assault victims. as a prosecutor, i fought for sexual assault victims. fighting for the victims of predatory practices. stuart: but, now absolutely crickets, nothing. she has yet to comment on governor cuomo sexual assault allegations. she ignores any questions thrown at her and yesterday she simply walked out. we are on it. tonight president biden will make his first primetime address to the nation. we have details about what he will say and we will tell you what they are. we will be back. ♪♪

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municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country.

they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 stuart: futures show a lot of green, 100 up dow jones, 200 for the nasdaq. about a rally. big tech very much in the news. rallying this morning nicely. apple, amazon, facebook, alphabet, microsoft all on the upside by better than 1%. president biden will announce the next phase of the covid response tonight. what can we expect, susan? susan: we are looking for a ramp up of vaccine supply and comments on how to get more americans immunized as quickly

as possible. the biden team met with executives from j&j and burke at the white house on wednesday and that really set the stage for announcement of extra supply. they said they had it extra 100 million j&j single-dose vaccine, 600 million doses from pfizer and motor and already and according to foxnews white house reporter peter doocy it looks like biden will talk about the sacrifices made by the american people over the past year with the loss of life, 500,000 deaths from covid in the millions of americans who have had their life upended and level with a population and audience on wet still needs to be done to beat the virus and maybe he will give us a timeline on when things could possibly get back to normal, stuart. stuart: i am sure the answer is we will spend trillions and trillions of dollars in the future. we will be spending forever. brian brenberg joins us,

professor of economics at king's college in manhattan. o'brien, let me get this off-- let me get this off my chest for a start i think this $1.9 trillion deal is nothing more than a huge slush fund to be used by the left to implement neo- socialist policies for years to come. let me move on from there. how many other trillion dollar stimulus package are going to come out of this in a few years time >> that's the question. i think we will have at least one more this year, stuart. this covid relief the bill is the new model. this is the new governing model, write a big bill that no one can read and also cash and keep the president away from reporters. that is working to get one-- worked wonderfully for democrats and they will do it again with the infrastructure bill. you are correct, if you can spend money in the press won't ask any tough questions which means you mark of people have no idea what's even in the bill, you can get almost anything done

especially if you are willing at any moment to throw the filibuster out the window. it would shock me if the filibuster survives 2021, stuart. i don't see it happening this is how democrats get anything done they want to get done before 2022. stuart: what happens to the tax package? does that get proposed this year or will it be delayed into next year? >> i think it comes this year along with the structure. it will be the same model, infrastructure will promise all that pat-- cast in the world but the tax bill will come with it and that will be soaking the rich and the done without republican support and you know what will republicans do about that? what is the american people that i do about it when these bills run in the hundreds and hundreds of pages, hundreds of thousands of words. we are still finding out only now it's in the covid relief bill. will be the exact same thing later this year.

stuart: okay. while you are with us, what your response to this, a private school in new york city grace church school, episcopal chewable-- school, can regard through 12th grade put out an advisory, don't use the word's mom, dad, parent. instead use adult, folk or caregiver. you are in the education business. what the devil is going on, brian? >> i'm in the education business, not the crazy business. this is absolutely insane that you are asking kids who have been taught their whole lives, the first words they were taught to speak probably was mom and dad and you have a school, the school-- here's with educators are trying to do, they are trying to reinvent families. they aren't trying to persuade parents, they are going to the kids and making kids carry the water on their ideologies into their families to affect everyone in their

family. how terrible is that take kids have no idea what's going on and make them carry the ideological baggage into the rest of society. if you want to change how we speak about families, go to the american people, the adults, but the adults won't have it and they are taking the chicken way through the children making children carry this. i think it's totally unfair to kids. forget about the fact that they aren't learning anything because they are trying to reinvent fundamental language about their family. it's ridiculous. stuart: well said, brian. that will live in history as your videotape. well done. the story this morning is a great opening up and we are opening up gradually in some places , fulltilt and other sapir movie theaters in la could reopen as soon as saturday if enough californians get vaccinated. governor newsom said theaters can get to play 5% capacity if they meet certain benchmarks.

here they are: the state must administer 2 million vaccine doses to underserved populations, must have fewer than 10 new cases a day for every 100,000 residents. is that copper kidded enough? he said california should hit the vaccine milestone tomorrow. we will see. we have futures pointing higher all across the board. we have the dow jones up 100, nasdaq up 200. it's a rally. we will have more on that after this. ♪♪

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stuart: check futures. up 200 for the nasdaq, 100 dow industrials. i went to look at coupang, the amazon of south korea going public today. could be the biggest ipo since uber. ray juan is with us. i know you like the coupang. why do you like it so much? >> you know, this is

basically created-- korea's amazon meeting alibaba. they are showing a good growth rate with a third of the e-commerce market plus they are also-- 70% of korea within like 6 miles from them in terms of distribution center so they done a great job building out the model. they are basically an expansion mode and one thing they could do is actually in the on their korean borders with some the ipo money. stuart: do you think this thing consumes today? >> i think so. they started out at 2050 price point and they are at 35. wiki gets going to grow because there's a huge appetite for commerce in south korea. they have actually out dominated amazonian south korea which is a rare thing to do but given how amazon operates so we have a lot of growth for them. of the other pieces they are known for rocket delivery. you can order something

at midnight and get it by 7:00 a.m. and that's how well they have their distribution centers so it's probably the biggest fleet with 50000 trucks to do that delivery. stuart: that is a speedy delivery. let's look at roblox. it was off to a strong start yesterday i think up a 55 on day one. i have to put it to you, ray, they are doing well indeed and their up again this morning, but they are still losing them enormous amount of money. >> this is what you have to think about, digital giants emerging like coupang and roblox, what they are built for is a long-term mindset, and they aren't afraid. big tech works this way going from market share first and mini figure how to monetize along the way and roblox is one of those. it's not just about the gaming platform, it's a virtual world that could be used for anything from telemedicine to

training and has a digital currency in terms of roblox which is what people buy to engage in the platform and that makes a powerful. the last piece, when you build massive networks with millions of users usually about 50 million , you start to get that scale you monetize anything from ads to search to digital goods and services and this is the same model netflix, amazon, facebook which have built over the last 20 years. stuart: okay. before you leave us, went to ask the correct pronunciation of coupang >> i think it's coupang, but i will have to double check. stuart: okay. i will do my best. i will certainly get on it. ray wall, thank you. see you soon. the opening bell is about to ring and we are looking at a nice rally today. remember, long-term interest rates which really spooked the market of the past 10

days or so, long-term rates have come back down to around one and a half percent on the 10 year treasury and the market likes that and you will see a rally. here comes the ringing of the bell. off we go, often running i'm going to be looking for a lot of green especially on the nasdaq. here we go. is thursday, march 11, and right from the start the dow industrials which has been in a real tear recently, that's a new-- is that correct, new intraday high on the dow? yes, new intraday high. 32400, a new high intraday. s&p i am sure is on the upside with a nice gain two thirds of 1%. the number to watch for their at some point in the near future if the rally continues as 4000 on the s&p. nasdaq doing very well indeed. it was expected to go up

sharply and it has that one and a half percent. that is the gain and this is why. show me big tech. big tech is on the upper side across the board. major gain for microsoft. show me tesla. here's another bounce back story. under $600 a share. a few days ago closing at $700 a share as of right now, that's a rebound. can stop, well the story there is gamestop loss 40% of its value and 25 minutes. we will get to that in a second, but right now gamestop down another 4% 252. amc all over the place recently, up 6% this morning at $10 per share. i believe there is news on amc. what is a? susan: worth a penny, 1 penny according to a new call.

they are calling it dramatically overvalued at $10 a share and doubt people will go back into theaters and they also say they will wake up to a likely short release window. that window will be much narrower. to get back to tesla, we had a baikal-- by call. they are calling it a buy puppy to lift two teslas a stock. stuart: we had that signal yesterday, $900 on tesla. it's a bidding war on where it's going. right now 693. bumble a dating, people were looking for love during the pandemic and it's up nearly 10%. they will be looking for love this year after the pandemic so total paying users increased by 32% in the holiday period said the last three months of 2020, more

than two and half million paid subscribers. this is the first report card for bumble after its ipo, stock is up 45% since it's a listing and bumble says there's pent up demand for people who have been reluctant to date during the pandemic and they expected to pick up this year took also, international will be the key expansion for bumble. stuart: show me oracle, it's a very important company, a major-league software company and its way down, 6%. i think this is something to do with what the ceo said. susan: some guidance from the ceo yesterday on the earnings call the cloud division not as strong as analysts hope for. profit and sales came out ahead, but it's also raising dividends by a third, buyback increasing to $20 billion. when you get back cash to shareholders whether the form of payouts are dividends or buying back

stock it usually lifts the stock price a bit of a disappointment. stuart: susan, whenever you get a market rally like this viewers and investors want to see their stocks. lots and lots of stocks on the screen so you can see if your stock is up or down. here we go. that's what i do anyway. look at this. salesforce, boeing, microsoft, intel major-league companies all, dow jones stocks all strongly higher. of those are winners by the way. s&p 500, 500 socks to choose from and the biggest winners, etsy, tesla just appeared on the bottom of 45%, 698. nasdaq winners, you may see some carryover here. tesla is on this list. read it for yourself,

nasdaq is doing very well, big tech is doing well pretty much across the board with green. now let's focus on apple. we have been talking for some time now about the apple car. with air's news believe, this morning on who may be the manufacturer of the car if and when it appears. susan: fox con and magna are the two front runners to make the apple car the future. we know apple has reached out to numerous car producers including sunday-- sunday-- hyundai 11. it means these producers would be a contract assembler, not the stuff they usually do. apple meeting with ferrari last year but in terms of when apple car will come out i think analysts say probably 2024, 2025. apple is leading the dow jones back above the 122 level which is a good

thing. stuart: interesting though, i was expecting a name brand car company to be the manufacturer. susan: no, that's not what they do. magna and fox con are used to building things and slapping someone else's name on it so the ferraris of the world are probably thinking that's not what we do. stuart: and apple ferrari car would be interesting. susan: it would be very expensive. stuart: two and half percent up for apple, i have two movers, boeing and palantir. susan: boeing reportedly ready to close a deal to sell 737 max jets to southwest airlines and it would be the largest order since that aircraft safety ban was lifted with reuters reporting the proposed deal also has options for southwest and

each maxi jet carries a list price of roughly $100 million, but you usually get a big discount if you buy in bulk. palantir big data with a long-term deal with the french auto supplier helping to shift their business to digital. what's important is it's another corporate client for palantir and that's a good thing since they traditionally with governments in this help them expand their client reach outside limited government names. stuart: we are now seven minutes into this a session and we are up pretty much across the board with the dow jones no longer up as much as it was. it's still up, 32300 is where the dow jones is out right now. 10 year treasury yield 1.52%, going up a bit. the price of gold is still bumbling around, price of gold per ounce 1721. bitcoin early was $57000

a coin. 57400 right now. oil prices, i think we are around $65 a barrel. gas keeps going up. national average for a gallon of regular gasoline $2.83. here's what we have later in the show, my how times have changed. this into what then senator joe biden said about the border in 2006 >> i voted for a fence. i voted unlike most democrats. i voted for 700 miles of offense. stuart: isn't that a reversal? we will take you live to the border and we will talk to laura logan about what is a real crisis with the cartels down there. cancel culture in the music world? one member of the group mumford and sons forced

to apologize, a groveling apology at that because he praised an anti- nt for book. cancel culture is winning and keep headset has something to say about it and he's on the show. ♪♪ lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones. it all starts with an invitation...

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stuart: we just started the trading this thursday morning, march 11, with plenty of green especially in the nasdaq. technology is doing well today. nasdaq is up 200. there is now a-- because of this rally, there's now a sixth person worth a hundred billion dollars or more. who is number six, susan? susan: warren buffett who

finally and 90 years old, the oldest of the bunch and he joins jeff pesos, elon musk, and others in the 100 billion-dollar club. remember buffett gave away about $37 million of his stock in 2006 so he could be worth more. i think the same thing could be said of bill gates, but berkshire hathaway has outperformed so far this year. it's rallied 15%, outperforming the 3% gain for the broader index and i guess it doesn't matter how long it takes to get there as long as you get there. is it all the same after a billion, stuart? stuart: all of these people are protecting their wealth, all of them. you think they are going to pay estate taxes when they die? no. susan: can't we just enjoy the wealth? stuart: wait a minute, all of these people-- not all of them,

but most that i know of, and they will not pay estate taxes. they love government but they won't give the government their money when they pass away. it's good for us, but not for them. sorry, but i'm a little upset about this. that's mine. thank you, susan. i think this is also for you. if you find anything about a house you go to sell low, a popular real estate website. they are getting sued. who is suing him for what. susan: competing austin -based real estate startup is accusing them of the favoring listings from the national realtors association so they are arguing clues in-- collusion. and they say this collusion makes it harder for potential homebuyers to view all of the listings with lower fees from other

competitors, so it looks like the national association of realtors probably has the largest number of members, about one and a half million of these homes went to list with the national retailers association so you don't see all the homes out there at the right price and that kills competition is the argument. stuart: okay. we will see how that turns out. thank you. rocket-- i'm sorry, rocket companies is the correct term. doing well today, up 5%, $27 per share. let's bring in their ceo first of all, congratulations, highly successful introduction to the market, great stock performance, but we follow you closely and i have seen rocket companies go up and down something awful. ura reddit stock. are you happy about that? >> stuart, it's good to be back. you know it's been an interesting few weeks as we have watched stocks bounce around. we have been doing this for about 35 years so

our focus is to continue to grow the company. we are the largest mortgage lender in the country, talking about the mls recently and rocket homesites has millions of folks of visiting so we will stay focused on the long-term and i think over time we will continue to watch the stock go up for the right reasons. stuart: you want to write more mortgages, obviously. you with the real estate market to keep doing well. got that, but there's a very strict-- not a limit but there are few homes for sale and i think that's really a problem in your business. will then change? >> yes. inventory is tight, but we remember we think it will be a record year for real estate. one example and i heard a comment earlier about the cancel culture i think things are changing now. we had a situation week or so ago when one of our competitors said if mortgage broker some of the most important folks in the country helping people buy homes, if they did business with

us and did business with our competitor they would be fined more than $50000 per transaction and what would happen, we are up 40% in the last week with our tpo broker business and in the last few days it's been in the top 10 of all originations in the broker business and that's one way we reach homeowners and help people buy homes and also i think it speaks to the comment about the cancel culture. i think people are done with that and they are moving on with quality value, edition with things that matter in this world. stuart: have a profitable rocket companies right now. >> you saw almost $17 billion in revenue in 2020, over $11 billion in adjusted, $320 billion enclosed volume and that's how the platform of pet brands, rocket cloud force, all the things to allow us to continue to grow, tpo brokers we talked about him

incredibly smart businesspeople sending us business each and every day so we are proud of our 2020 results and excited about our platform including our real estate for men rocket homes that i discussed, so i'm excited about 21 as well. stuart: with the pandemic i think it's winding down, i won't say it's over, but the effects are certainly winding down for do you think that's good for rocket companies? >> i do. we will see interest rates pick up a bit and we are aware of that but over the 35 years we've been in business we take it as an opportunity to grow. the focus on our platform and tech platform allows us to be efficient when we underwrite mortgages so as other people pull back and capacity shrinks in the mortgage industry because as an opportunity to grow. as we grow market share not only do we capture revenue with our mortgage, but title, real estate, auto, personal loan so as we grow out those different services we can offer

clients that lifetime value as the client grows. interest rates moving around are a great benefit to us and when they drop back down we have a 90% retention rate to help clients refinance and save money so cycles are good at least for our work business in the mortgage industry and i think that's what we will see this year. stuart: thank you for coming back on the show. we appreciate it. ceo of rocket companies, thank you. what do we have for you? vice president kamala harris is vocal about condemning republican men accused of sexual harassment, but watch this. >> , about governor cuomo? stuart: there you have it. she simply walks away and ignores the question. will not touch it. democrats are in a tricky position with governor cuomo.

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stuart: us china sister cities, all over america, oliver across the country and they are supposed to promote cultural ties between the countries, but let's bring in henry with an accusation china may be using the cities to spy. what is the story? >> hello. we do know in the past that china has exploited these a sister city partnerships to exert political influence over their sister city, but there are fears in washington that china could be doing the same here. fox business is learning senator marsha blackburn as long as others are introducing legislation today, the sister city transparency act calling for a review about the city with sister cities in china for oversight and transparency. senator blackburn saint sister cities are a

strategic partnership that beijing brokers to create a foothold in american communities and it's imperative we's shed light on these partnerships to determine whether they leave american communities vulnerable to foreign espionage and ideological coercion. chinese sister cities are all over the us even in places you might not expect with california over 53 sister city partnerships with china, florida, texas has 12, new york state and washington have partnerships with beijing. stuart: hillary, that is the story from dc. thank you. still ahead on this program today, michael goodwin, pete hegseth, laura logan, doctor scott atlas. a second hour of "varney & co." coming up next. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming.

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♪. stuart: ah, the spice girls, remember them? vaguely. good morning, everyone. it is 10:00 on the east coast. let's get straight to your money because we got a rally and a half. the dow industrials really picking up steam. 32,500. that is brand new intraday high. the nasdaq 13,300. not sure if that is new high or not. it is up 1.7%. that is a rally all across the board. i think the market likes the idea that the $1.9 trillion

package has passed, will be signed. that money will be let loose, some of it goes to the market. 10-year treasury yield, has been a benchmark that has affected stock trading. this morning 1.52%. that is the yield. that is slightly higher. got that. here is the important number. mortgage rates. susan has the number, is it 3%? susan: yes, definitely, 3.05. you're up 3 basis points from last week. in terms of the color commentary from freddie mac economists, they're saying to homebuyers we're heading into the spring home buying season, that should be strong. if you haven't refinanced yet, looking to do so, you still haven't lost the opportunity. as you point out you're saying 3% isn't really that much, not that high compared to what you were paying 30 years ago. stuart: remember that? actually more like 40 years ago,

when it was, 12 1/2% i think it was. susan: that was in the '80s, no? stuart: no, late '70s, when i bought my first house, california, san francisco, 12 1/2%. i thought it was great. it was. jolts, that's the number of jobs open, the number of jobs available. what is the number, susan? susan: pretty good 6.971 million for the month of january. that is actually higher than what economists forecast for the month. they were looking for 6.6 million. this is 300,000 more than anticipated. definitely higher than december of last year. it goes along with the recovery theme of more hiring as economy continues to recover and also open up. stuart: that certainly helped the market. we have a quick move up when the jolts number came out. so now we're up nearly 2% on the nasdaq at 13,300.

214 points on the dow. 32,500. now this. the left has won a major victory. the $1.9 trillion so-called covid relief package creates the most gigantic left-wing slush fund america has ever seen. $3 trillion in total, if you throw in the money already approved but not yet spent. where is it going? 350 billion to bailout badly-run, largely democrat states. that is a huge win for state government workers who always vote for more government power. $129 billion to the teachers union so they can continue to ruin public education. $300 a week to the unemmode. no wonder small business can't find enough willing workers. 1400-dollars checks to households making up to $150,000 a year. deutsche bank says, over 1/3 of

that will go into the stock market. all of this, covid relief money, will be spent as covid winds down. how did this happen? the democrats maintained absolute party unity. that allowed the left to steamroll any moderates with the threat of a primary challenge. that was a big deal for them. second republicans are divided, still shell-shocked from the loss of the white house and the senate. third, the media, refuse to offer any criticism of socialist plans. result? the president is popular, the covid package is popular, the stock market is rallying and your 401(k) looks good. i'm happy to see investments doing well. i'm happy to see people who need help get the money they need. but 3 trillion-dollars to fund the left for years to come, not good. it will eventually end in tears. the second hour of

"varney & company" about to begin. ♪. stuart: one year after the start of all the lockdowns and restrictions, one year after that, we're clearly coming out of the restrictions and the market is rallying big time. the dow is up 200. the nasdaq is up 250. michael lee with us, our market watcher of this particular moment. all right, mike, the bull market just keeps on running. do you think it keeps on running from here? >> get out of the way or you will get run over by the stampede. look the expectations for profits and breath have been continually, continuously too low since the start of this pandemic. the pessimism has been too high. i still think that remains the case. over the last month or so, we've had and inflation scare. i think that had more to do with

some of the plumbing in the treasury market and the lack of shelf space on a temporary basis for a lot of new treasurys coming in the market. that problem has resolved itself. i think we'll have some pretty big inflation numbers next couple months. that is how low inflation was last year. look, the money supply is increasing at 25% over the last year. but the velocity of money, how quickly it makes it through the system. it is dechinaing at almost the same rate. you and susan were talking about the 70s, 80s. the money supply was growing at 10% a year. velocity was growing faster which caused that inflation. i don't see inflation being a problem. when you print this money, push it out there, you inflate the value of financial assets, homes, commercial real estate, as well as stock prices will go much higher. we had a blowout jolts number. that is fantastic. there are almost 7 million job openings. that number continues to expand.

economy opens up. markets will go higher. stuart: don't you ever get a little worried when telling clients, hey, jump in there, this is a bull market, a great run, get in there, don't be left out? don't you, a few worries when you're telling your clients that? >> look, stuart, these bull markets are a multiyear cycles. we just had a recession. chances are we'll have, i would expect that the next recession will come quicker than the last one. so the last business cycle was 11 or 12 years. there wasn't as much bankruptcy and financial reorganization as there was in the great financial crisis. so i expect the next recession to come the next four or five years, versus the next 11 or 12 years. so a few years down the road as we start to see structural slowdown, structural declines, i will get nervous about the markets. but for now, while we're in expansion phase, we're keep coming out, much better relative to expectations i'm not worried. i would love toby able to buy

stocks cheaper but as we saw in the 10% correction in the nasdaq, if you blink it's gone. we'll undoubtedly have some of those events over the next six months or a few years. just be ready at those points if you have money on the sideline. stuart: a very confident michael lee. talking about the running of the bulls. welcome to the show. thanks for being with us. we'll see you again soon. mike lee, everyone. >> thanks, stuart. stuart: i say this almost every day, when you have these wild swings in the market up or down you have some really big movers. susan has got the list. i think you should start with apple, susan. susan: let's start with apple because it is leading the dow higher today and we do have bloomberg reporting that fox con, magna, are the two leading contenders to build the apple car in the future. speaking of cars, check on tesla, called a buy, initiated a buy at mizuho securities. $75 a piece.

nio also called a buy, worth $60. still plenty of upside for both stocks. oracle, disappointing guidance, for the year, despite buying back $20 million in stock and hiking dividend by a third. microsoft, i am checking checki, stu, so you don't have to look down on your phone. up $2.91. finally bumble, the first report card, dating app ipo. more paid subscribers up by a third in the final three months of last year. they say a lot of pent-up demand in dating this year because of what happened during the covid and the lockdowns. i ely chose bumble i notice how fast you want to get through it before the opening bell rang because you wouldn't touch it with a 10-foot pole. stuart: i was wrong. bumble is the where the woman takes the lead. susan: they initiate. also did you know, the stats, they are the second most popular

dating app in america behind tinder? 42 million monthly active users. that is incredible. what a business he has built. stuart: well-done indeed. no complaints from me, all good. susan, thank you very much indeed. i have a headline for everyone to look at. here it is big tech thinks you're an idiot child who can't govern yourself. the author of that piece is john daniel davidson who joins us now. welcome back, john. good to see you again. that is pretty strong stuff. big tech is treating us like an idiot child? you might want to explain that, john. >> well it started with the dr. suess thing but it is not just dr. suess. it is not just publishing houses. it is also big tech. they don't think that you can see certain things on their platforms without being led astray and buying into conspiracy theories. so twitter won't let you see a whole host of things. facebook won't let you see a

whole host of things. google and amazon don't want to sell you certain products because they think you will have the wrong idea if you get exposed to certain books or flims or ideas. this is happening all across big tech, all across corporate america. stuart: yeah. what are we going to do about it? how do you stop this? because i think it is outrageous? >> we individually need to push back hard, not just conservatives. this is about, this is a fundamental american issue. it is about governing ourselves. it is about free speech. about the exchange of ideas in the open public square. if these big tech companies won't get their act together, actually be platforms, actually, you know, live up to the expectation that they allow free speech and allow free exchange of ideas, then we need to look at legislation to force them to do so because you know, discuss the other day i was on a podcast on youtube, talking about the election. talking about the 2020 election.

talking about the court cases and youtube pulled the video down because they said we were questioning the outcome of the election. we weren't questioning the outcome of the election. we were talking about the court cases. that is not even allowed anymore. stuart: i think one of the most serious problems facing america today. it is free speech, really. these guys have got the monopoly on censoring us. it is out outrageous. i want to ask you, we're one year out of the start of the restrictions under the pandemic, can you point to one single thing that really changed in your life? >> yeah, i can. a lot of things changed in my life but one of the things i think that changed for all of us is that we learned through this pandemic, through the response of our mayors and our governors, federal government, that our ruling class has no confidence in the american people to take care of themselves, to make decisions for themselves and their families and to do the right thing. they think we are idiot children

who can't govern ourselves and proved it through the response to this pandemic. stuart: john daniel davidson, you really brought that back full circle, very nicely. well-done indeed. thank you, sir. see you again soon. >> thank you. stuart: vice president kamala harris is all about believing women but when it comes to governor cuomo's sexual harrassment allegations, she is silent. watch this again please. >> lifting half of america's children out of poverty a big deal. thank you. >> comment on governor cuomo? stuart: she just walks out as you saw right there, she is not the only one staying silent by the way, we have more on that coming up. the flying taxi startup racing to be the first to get passengers in the air. i'm talking to the ceo just ahead.

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stuart: we're now learning about specific sexual harrassment allegations against new york governor cuomo. we have want to warn you, these allegations that you are about to hear, are disturbing, may not be suitable for children. bryan llenas is in brooklyn with the story. bryan. i'm sorry, just waiting to get bryan with us. small technical difficulty. i believe he is about to get on the air but, look at this. that is governor cuomo obviously. the banner reads, 85 new york lawmakers speak out against governor cuomo. that is from both sides of the aisle.

it is about 40 democrats, and 40 republicans both saying you have either got to resign or you're going to be impeached. it is reaching a head with governor cuomo. we'll get the full report for you moments from now. now i want to backtrack a little, i want to go back to vice president kamala harris. here is what she was saying how she fought for sexual assault victims. this was sometime ago. roll roll that tape again. >> when i fought in those courtrooms it has been on behalf of sexual assault victims. fighting for sexual assault victims. as a prosecutor i fought for sexual assault victims. fighting for the victims of predatory practices. stuart: fighting for the victims, speaking out, that was the theme of her campaign, but now, when asked about governor cuomo, vice president harris silent. watch this again.

>> lifting half of america's children out of poverty, it's a big deal. so thank you. >> comment own governor cuomo? stuart: walked away. silence, would not address the issue. michael goodwin with us now, fox news contributor. michael, why are top-ranked democrats silent now? >> good morning, stuart. look, i think nothing corrupts like partisanship and you're seeing the democrats now, who are frankly i believe stunned by what is happening to governor cuomo, the charges against him. i have to say within albany many of the people leading the charge against him are also democrats. now most of them are younger, they are new to the state legislature and their politics don't align with cuomo. they have extra incentive here but i give them a lot of credit. these women too. all of these women, exempt for

one, five out of the six were actual employees in the governor's inner circle and so, for them to come out takes an enormous amount of courage. you would expect that vice president harris and others would want to at least hail these women for their bravery because governor cuomo's reputation for vengeance is well-known and well-earned. he deserves that reputation. he does go after people who go after him. he will, as we saw in some cases, they released the personnel files of one of the accusers, so this is not a game for sissies. these women who are standing up deserve more support. stuart: in your honest opinion does governor cuomo survive to the end of his term? >> it has been sort of jump ball day after day. with each new accusations as

more legislators sign on to impeach as you said it looks like the answer is no. he said i will not resign. you have to impeach me. impeaching a governor has only been done once in new york state history more than a century ago. it is a process that tracks the federal system, you need majority in the assembly and 2/3 to convict and remove in the state senate. once he would be impeached by the majority vote in the first house he would have to step aside the turn the reins over to his lieutenant governor until the completion of the trial. there is long process, no turning back once you get there but it seems with each passing day and new accusations pile up and the governor saying he will not resign, no way i resign, he said, really becomes then a question of does the legislature have the votes to impeach? so far they don't but, with each

passing day, that number gets higher and higher. stuart: michael goodwin, fox news contributor, thanks for being here. see you again soon. got to check the market because it is really doing well today, the dow is up 200. the nasdaq is up 200. how about that. we have coupon, i'm trying to pronounce it correctly, the south korea amazon, they have got their ipo today. i have don't think they have had a trade yet today. we're waiting for it but they did raise billions of dollars before today's ipo launch. how much did they get together, susan. susan: they have been invested by softbank, one of the lead investors with coupang the amazon of south korea. they really do everything. they deliver everything, worth $60 billion in the valuation today in their ipo because they priced their shares at 35 bucks,

which is even higher than already raised price range. this will be the largest ipo so far this year and the biggest for a foreign company on the nyse since alibaba's record breaking ipo in 2014. as i mentioned demand is strong. the anticipation stu, that we will go way above that 35-dollar price definitely. more than six times the value that it was raised at three years ago. in three years, it is worth six times more at $60 billion. you have to keep that in mind. they narrowed losses to half a billion dollars. investors are buying into what they call a growth stock here. this dominates over a quarter of the e-commerce market. one of the 25 largest ipos in the u.s. it is part of a megaap, because, stu, a lot of people say with the asia apes like alibaba and coupon, it is still more

fragmented, social media plays, e-commerce plays separated where over there it is all in one. stuart: i got it. looks like coupang the stock of the day. the stock yesterday was roblox. give me an update on roblox, roblox, whatever. susan: cathie wood bought 500,000 shares in its debut, direct listing on its first day. 50% jump, that made its founder, roblox founder a lot of money on paper. david bizuk i-shares are worth $500 billion, founder, ceo, founded 17 years ago in 2004. the stock finished well up in the first day debut. that makes it not cheap obviously, given the company is worth $45 billion and counting given the rally today. that is 10 times than they raised cash last year 12 months ago at this time.

made people think might be expensive given that roblox is still losing money. growth is huge. daily active users 2 1/2 million, up by 80% during the pandemic. there is still a ton of cash willing to buy in especially with recognizable technology names. 50% of their users are 13 years and younger. stuart: a lot of these ipos come out real strong and then back off. that is what a lot of smart investors jump in. do you think we might see the same thing again? susan: that is usually what people recommend, don't buy on day one, there is so much hype of interest, especially in the era of robinhood and millenial day traders. if you wait a few days to get entry point. if you take the lessons from airbnb and doordash, 70, 80% gains from day one. earnings prove they are fast growing company. you have to get in a few days after day one debut because

months afterward they go up. that is the trend so far. stuart: we'll take that advice, susan. now this, one new york city private school not to call parents mom and dad. we have the story for you. look at this, we'll show you sixth avenue, heart of midtown manhattan. look at that, 9, 10:27 lunch time almost, the place is deserted. that is year after the shutdown first began. when will it come back? when will the city come back? i will ask the chair of thor equities, a major new york city player. he is on the show after this. ♪.

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stuart: one hour in, still plenty of green. dow up 220. nasdaq up 235. s&p up 36. that folks, is a rally. now i'm going to show you sixth avenue. remember, please, we are officially a year into the pandemic, i mean the start of

the restrictions was exactly one year ago. new york city will allow students to be open at 50% capacity. that starts next week. there is a partial reopening but that place right there, sixth avenue, my midtown manhattan. look who is here. joe sit, frequent guest on the program. he is the chair of thor equities. a real estate developer in the city. joe, give me your best guess, when midtown manhattan all those office building will make a comeback to anything near normal. >> near normal? by the way, good to see you again. call me eternal optimist, my magic date is memorial day weekend. i believe after memorial day we'll get a summer lull in july, i believe life starts to come back and i'm looking at what i

call a violent reopening. i think people are starving right now. th starving for regular life as they often say, we'll move from digital life to analog life. from digital life to touching other humans. just tremendous starvation for more mallty, gyms, restaurants, retail. i think we see a really, really strong bounceback. stuart: why have we not seen anything of it so far? we keep showing our viewers a relatively deserted fifth avenue, i can tell you for a fact that these skyscraper office buildings are still virtually empty. what evidence do you have that we'll come back real fast, real strong? >> okay. the positive of what i think will bring it back, when i think has held it off. in terms of the positive thing that i think comes back is, is the vaccine. i think that both the current

administration and obviously the prior administration worked really hard to mobilize preemptively and gamble and take risks on producing vaccines that wasn't yet proven and by this summertime we'll actually have seven million extra vaccines that we won't even need in our country. and so, with that speed of movement, the result of what both administrations have been doing for the last years process, i think it will be the positive to give people the comfort, thrown in with a little bit of good weather. the challenge, what we've experienced and what we've touched has been, obviously we know all the vaccines -- forgive me, i know you're in the news media, the news media scared the daylights out of people and you had multiple things going on in the cities, big cities. it wasn't just the virus but on top much of it you had the safety and crime fear going on.

as a friend of mine who is african-american said, you know, it shouldn't be defund the police, it should be refun the police because the african american communities are disproportion thatally suffering greatest because of the amount of crime. it is everywhere in cities -- stuart: i've got to run. i'm sorry, joe, i've got to run. i got to run because i'm almost owl of time here. i want to bring you back on to this program, say, august or september and i will show our viewers sixth avenue, new york, and let's see if it is less deserted than it is now. let's see if you're right, joe sitt, i hope you, believe me, i really hope you are. it's a great city. i want to see it come back. >> thanks. stuart: joe sitt. see you later. >> [inaudible]. stuart: we like to be positive whenever we can. now staying on this, susan,

we're used to hearing about surging real estate market in florida and in texas. susan: yeah. stuart: are you going to tell me around a surge in real estate market around new york in the suburbs, that accurate? susan: our viewers should know that we have like an ongoing debate about this, right? where you should be buying your homes, what are the tax policies of that's blue states and that might have some budget gaps but in new york, people are buying in the suburbs. you have to remember that early pandemic shift, that trend when homebuyers were lining up to buy homes outside of the city for more space and fresh air? that trend actually slowed down a little bit at least in the late summer up until fall but there has been a pickup just in the past two months. so the lines of homebuyers and cash purchases are back, with steep bidding wars, leaving a lot of buyers losing out, from real estate brokerage house douglas elliman biggest brackets, houses one million to two million, section hundred is

600,000, to 800,000. those are the lots of buyers interest. there is limited supply. that is the big reason for sales and price jumps than actual demand. i will make this argument, because we talk about manhattan, how many people are willing to live in the city after the pandemic? douglas elliman said contracts surged 73% compared to last year. people are willing to come back at the right price. stuart: that is fascinating, absolutely fascinating. susan: it is. stuart: we're at a turning point, i hope we are, love to see it. cancel culture, comes to the music business. a case after guy who liked, he liked an anti-antifa book. now he has to grovel in an apology. these cancel folks are winning. we have got more on that coming up. first we have a rebound story. manufacturing operation that is really coming back, i mean,

very, very strongly. we'll bring you the story and the ceo after this. ♪.

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stuart: come back off a little bit off the highs. no we haven't. we're back up again. the dow is up 250 just about, at 32,500. the nasdaq composite is up 257 at 13,324. that folks, is a big-time rally. you're looking at it right now. we make a habit on this company, on this program i should say, of trying to celebrate companies that are making their products in the united states and which are doing very well. i will get to that in a second. left-hand side of your screen, i'm sorry, i'm jumping the gun here, folks, my fault. boeing, sales force, microsoft,

apple, visa, are the big winners on the dow. we like to celebrate companies making products in america. companies like the taylor group for example. they make all kinds of machinery, forklifts, generators, et cetera, et cetera, and they make all of their stuff here in these united states of america. the president and chief operating officer of the taylor group is robert taylor who joins us now. robert, welcome to the program. great to see you. i want a progress report. pandemic is clearly winding down. we're all opening up. how is your business doing? >> well, hello from the great state of mississippi and glad to join you. appreciate you allowing us to be on. we are coming back. we went down, went down hard but we are coming back resurging in all markets. we serve the lumber market. we serve the steel market. we serve the ports. we serve the oil and gas industry in all those markets

are proud of coming back and we're coming back with giant roar. stuart: have you brought back all of your workers back on the job? are you hiring anymore? >> we are hiring more, not all are quite back yet but we're gearing up right now as we speak. stuart: will you be raising wages? >> yes, we will this year, absolutely. and you know, the biggest thing we face right now is, is inflation. our steel prices are skyrocketing. everything is, the trickles down because of all the products we use use steel. we are seeing inflation. there is no doubt about it. that will happen to us in 2021 being cautious about that. stuart: you appeared at the made in america summit at white house i think it was. you're a big backer of the president's policies. we have a new administration with a new series of policies in hand. do any of those policies hurt your rebound?

>> obviously we're on the watch to see what happens with the tax policy and that type of thing but we do know this is shift towards climate, those type of things. so we're heavy invested continuing to invest in zero emission battery technology. we put a 930 kilowatt-hour container handler, we have them at the port of los angeles and port of long beach, handling containers every day, right beside diesel powered vehicles. we're continuing to round out the power line with totally zero emission products. that is the kind of pivot you do when that happens. stuart: the taylor group on a roll. robert taylor joined us. sir, thanks for joining us. hope to see you soon. >> thank you, stuart, bye-bye. stuart: sure thing. going back to those markets because they're doing so well, that is the bread and butter of this program. nasdaq up 250. dow up 250. susan, you're following boeing,

i think which is doing very well. susan: up 3%, leading the dow higher as you mentioned. boeing is trying to sell another 100, 737 max jets with options to buy more with southwest airlines. that would be the largest order for bowing and this particular plane since it was cleared to fly again by the faa according to reuters reporting. palantir, a long-term deal with a french auto supplier. this helps expand palantir's client base away from just governments to more corporate clients. that is good thing for this company. docusign reporting earnings after the bell. it is up 200% in the past year, surging with pandemic, with a sign remotely, and online instead of face-to-face. gamestop, yesterday with save trading halts, four on the way down, three on the way up. gamestop it was trading 340. it lost 40% in 25 minutes.

we don't see that type of volatility today. stu, doesn't that suggest there is a lot of retail trading in this name and options at play. these are the contracts that try to predict the price up or down in the future. we've seen really pronounced usage of this especially amongst retail investors this year. stuart: concentrating on the level, $273 a share. ain't that something even though it is down recently. susan: yeah. stuart: let's talk about apple. they have been talking about an apple car. we've been talking about it for quite sometime. susan: yeah. stuart: is there any news who might manufacture the apple car? >> the latest reports from bloomberg say foxconn and magna of canada are now the front-runners. we know that apple has reached out to numerous car producers. that includes hyundai in south korea but reportedly talks have not gone well because apple wants to make their own car, their own autonomous system, all the design inside and out and on board technology. that means the car producers would be a contract assembler.

that is not the kind of thing they usually do. they don't usually build a car and slap somebody else's label on it with all the interior and design technology by somebody else. apple reportedly meeting with ferrari last year as well. looks like those that are familiar with building cars for others are supplying just parts like magna and foxconn are the front-runners right now. stuart: just fascinated about the idea of a ferrari apple car. susan: would you pay for it, that is the question? stuart: that is another question entirely. thank you very much, susan. it is a race to the skies. air taxi start up volocopter has stiff competition from the likes of archer and others. i'm talking to volocopter's ceo when they will be carrying paying customers. we'll be back.

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with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 stuart: we just love to keep the market checking for you, why not? look at this, the dow is up nearly 300 points. the nasdaq is up close to 270. major leagues rally in progress. let's put this on the screen again. what you're looking at now is a volocopter, an air taxi, basically. we have with us this morning the ceo of the volocopter company,

florian reuters with us now. archer aviation said they will have the taxi in the air, paying customers, 2024. when will you have paying customers in the air for the volocopter? >> thanks for having me. volocopter has been around since 2010. we have more than a decade in-house experience of building four generations of vehicles, three of which received previous certifications. we're going for providing first commercial air taxi passengers in cities like singapore and paris from 2023, on. we're extremely confident we can get there, based on our lead in the industry evidenced by our certification process. stuart: your competitors are saying you're using the helicopter model as opposed to

vertical take off and landing. the volocopter. the computers say health copters are more dangerous and more expensive. what is your response. >> there is a clear difference between helicopters and electrical vertical take off and landing. the clear differentiation we have unprecedented safety levels, clearly convenient for the customer and we're extremely quiet. with all of that, we can operate our services at scale because we will find public acceptance for it and offer a fantastic customer experience as evidenced by the hype around this market we're all seeing right now. we're extremely comforteddable with the design choices we've seen. this is the perfect design for the inner urban mission. stuart: you're competitors, i'm going back to archer, vertical take off and landing electric vehicle, they will price their product as an air taxi about the same on just a little bit higher than a luxury uber car.

what is going to be your pricing? >> so, you know, very similar. we have looked at, you know, our bill of materials, our operational costs. if we look at what we have contracted for the initial series already, and how this is going to protect going forward, there is indeed the potential to be offering our services at around the price point of an uber or yellow cab. we bring the example of a trip from newark or jfk to downtown manhattan which we offer well below $100 which makes it accessible for most of us. stuart: how many passengers? >> two passengers in our vehicle. there is specific reason around that. we believe the main aspect to scale operations is going to be the noise element. the larger your vehicle, the louder it gets. also if we look at today's occupancy rate, we're absolutely convinced a one or two passenger vehicle is the perfect vehicle

for the behavior patterns that we see in urban logistics and urban mobility today. stuart: great stuff. ceo of volocopter, thank you very much indeed. come back to see us again. good stuff. >> thank you, stuart. stuart: well, it is almost 10:56 eastern. in the next hour the 11:00 hour look who we have, pete hegseth, dan heninger, lara logan and dr. scott atlas. one private school in new york city telling them not to call their parents mom and dad. that is my take, tom coming up at the top. hour. ♪. [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming.

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>> get out of the way you will get run over by the stimulus money coming through. we will see that money being put to work like we did last time. we might get some new stocks. >> the covid relief bill is the new governing model. step one, write a big bill nobody can read. step 2, have a cash. step 3, keep the president away from reporters. >> millions of folks visiting so we will focus on the long-term and we watch the

stock go up for all the right reasons. as inventory is pretty tight, we think this will be a record year for real estate. ♪♪ stuart: the pointer sisters, well, well, well. this is thursday, march 11th, all day. check the rally money, the nasdaq is up 300 points. it was over 300 a moment ago, 13,00357. the dow is up 384 points. don't tell me this is not a huge rally. show me big tech which is propelling the nasdaq so much higher. all big tech across the board on the upside in big percentage terms. one more market benchmark before we move on, the 10 year treasury yield is at one.54%,

rising this morning but even so the stock market is holding its big rally. now this. here we go again. desperate to be inclusive we are now excluding some supposedly offensive words. just as our border is overrun with children without a mom or dad or any parent the elites in new york city are banning those very words. the grace church school in manhattan, new york has put out a 12 page advisory, students are encouraged not to use mom and dad. instead call them grown-ups or just folks. don't say nanny or babysitter. caregiver is preferred. the 12 page advisory warns against making assumptions about a student's home life. someone might feel excluded.

the school charges 57,$000 a year tuition. just does the contrast occurred to anybody? the elites who pay that kind of many encourage the migration of thousands of impoverished children in dreadful conditions, but can't stand the words mom and dad. you might think this is a small trifling example. it is not. speaker pelosi named down the same rules for congress and ignored them and she referred to herself as a grandmother. we are being shoved into a socialist woke approved the mindset. you must conform. your opinions and language are subject to sensor. you can be canceled, you can be ruined. this won't end until our society gets a backbone and the third hour of "varney and company" is about to begin.

i am trying to calm down. why am i bringing pete hegseth on to the program, i don't know. he is on the show. they are winning and i don't see any end insight. do you? >> you are right because parents counter, 57 grand year. the only reason they are paying 57 grand is to get their marginal kids probably at best into the ivy leagues, they can get even more woke, more indoctrinated yet recent articles, very wise came out with an article about parents are secretly meeting quietly in private acknowledging how insane it is but they are so addicted to their elite status and the schools they can't pull away. it is time to stop. if you don't want the insanity to happen stop sending your kid there, find a catholic school, a christian classical school,

home school. 20 years ago i bet if this school, it was yes, sir, and yes, ma'am. now it is folks. nancy pelosi is a grand folk whatever that means. it means nothing. it means nothing. that is what they want, deconstruct kids from traditional values. stuart: here's another one for you. i am sure you heard about this, or cancel culture, winston marshall, a member of the popular band forced into a groveling apology after he had the nerve to praise and anti-antifa book. he's taking time away from the band. the cancel culture pervades everything and it is winning. how does this stop? >> when you stand up and are willing to say i wrote that tweet because i enjoyed the perspective in that book which

is that antifa is an insidious left-wing organization that uses violence and nonviolence to marginalize and attack people. that is a legitimate point of view in the marketplace of ideas, stand up and say you don't have to agree with me, but a book like this deserves to be written by someone at the front line. read it and figure out for yourself. it is not that hard. look at what pierce morgan did, i can have a difference of opinion. this is the united states of america. he's not even a political guy. you can tell a tweets were written in direct, he realized i stepped on the woke hand grenade and i've got to back down. that is what happened. you've got to show a spine and be independent and most entertainers will go the way of the current because they want to stay in the band. stuart: shelley change the subject and talk about bitcoin at 56,$000 a coin today? would you like to do that? >> i would love to do that.

yesterday and today at near all-time highs. there is a dip with bitcoin as a recalibrate, people take some profits, institutional investors make big sways in the market, there's a big dip that went as low as 42, 43, on its way up. we could see another big upswing. that is what i hear from folks who follow it more than i do. stuart: you are not close to retirement because you made a couple billion in bitcoin shirley. >> i wish, i talk about it more than i own it. people think i am sitting on piles of scrooge mc duck bitcoins but i love the idea of it, it's revolutionary capabilities of empowering people. it is still going up. stuart: stay with me. i mentioned i owned microsoft for 20 years, they all think i am a billionaire. it is crazy stuff. pete hegseth, i think you really are all right. good stuff indeed.

let's get back to pure market coverage. we keep on going higher. the dow is up 318, the nasdaq is up almost 300 points. that is a rally. let's bring in the guy who saw this coming. that guy is dead yarddenny. you have been talking about a melt up. are we in the melt up now? >> we may be in a melt up situation. the nasdaq is up 75 percent-80% since march 20 third of last year, march 20 third of last year is when the fed came in with q e forever, just an open-ended a limited commitment to buy treasuries and agencies and corporates. as a result we had a tremendous amount of liquidity provided by the fed but on the fiscal side

we have $1,200 checks last april, $600 checks in january and we are in the next week or so, $1,400 checks coming at a lot of people and some portion of that to the stock market. it is hard to be bearish or conclude there's a lot of downside in the market but so much cash being poured into the markets and the economy by the fiscal monetary authorities. stuart: i had someone on good authority that more money is being shocked at the economy now than in world war i or world war ii or after the crash of 2008. is that accurate? >> i don't know but it sounds accurate. it sounds realistically on target. we never had three consecutive status programs, and more gdp,

before anybody jumps at me. there are lots of people still suffering as a result of the pandemic. i wish this money had been more carefully targeted than businesses that need it. it is what it is. and fiscal monetary policymakers are doing and whether it is. or bearish. i don't do good or bad. it is bullish and could be too bullish, a melt up, april showers bring may flowers but we are getting march and april showers of checks again. this could be a strong market in april. and >> thanks for joining us. most of them are going up. susan has tesla.

that is going up today. >> one of the best performers of the s&p 500. tell is called a by this morning, worth $775 and and a 60% had surged. it is 3.5%. the videogame platform worth 10 times more than when they raise cash in the private grounds. is that incredible, and facebook today leading the tech rally. have you checked the 10 year treasury yield, we were below 100 basis points which is a good thing when it comes down and assets look a little cheaper. stuart: we had one.48% and

bounce back to around one.54% but that is not affecting the top of the market. >> i want to show you the froth in the markets. a sign that there may be too much money out there, a record $60 million which paid for crypto arts, non-fungible tokens based on block chain which is the underlying technology. isn't this unbelievable. that amount could go to $69 million of fees afterwords and the name of the artist is beepoh, selling for $50 million plus and it is a new era of art and collectible and block chain-based digital images were as much of the real picasso, isn't that incredible? stuart: trillions of dollars at

the economy and we've never done this before, never trillions and trillions, you do end up with some assets that go to the moon and if that is the case with -- what was it called? >> and fc, crypto art, that is a sign it there is too much money up there and this is money to burn in some way. stuart: i agree with you. you've got it right. we talk a lot about cancel culture on this program. we are obsessed with it. the chairman of fox corporation, executive chair of news corporation, rupert murdoch is speaking out against it. we will tell you what rupert murdoch is saying. it is not a coincidence, they have admitted it, watch this. >> surges tends to respond to hope and there was a significant hope for more humane policy after four years

of pent up demand. stuart: pent-up demand. migrants are arriving by the thousands and we will take you there next. (man) i'm a verizon engineer, part of the team that built 5g right, the only one from america's most reliable network.

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the was detained 100,000 migrants, griff jenkins is on the ground in texas. you are at ground 0 and you are on the border. are you next to a hole in the wall right there? >> reporter: this is ground 0. you see the fence behind me. let's get our drone cam up in the sky so you can get a perspective. you can see this gaping hole right here just literally 100 yards the gate. this gaping hole was set to be completed under the trump wall construction. it was stop by biden's executive order. it will not be completed. they tell me the residents and locals, migrants, right over this burn because we are only half a mile from the river crossing. this bar right here, every morning he sees migrants in this bar sleeping, they use the facilities and two month ago and illegal immigrants came

across and gave birth in the parking lot right there. we talked to a border patrol agent. i said who is responsible for this? here is what he told us. >> the cartels, nothing crosses that river without the blessing of the cartels. the cartel tells the people went across, worth across, how many are crossing and everything is in a certain way to maximize the efficiency on their side. >> reporter: i spent four hours at the road here, four groups cam. 200 total migrants, the biggest one, 75 people and most were family units and somewhere unaccompanied children in the rio grande valley sector, averaging 250 unaccompanied minors every day. stuart: 250 a day, that is extraordinary. thank you very much. telling us how it is.

good stuff. let's bring in clara logan who is with us this morning. lara knows the border well, she has traveled there, she has been to mexico. listen to griff jenkins, this is a bonanza for the cartels. a huge win for them, not us, them. >> that is right and griff is correct. i have investigated for the last few years and the cartels are in control of the border on both sides. they decide who moves, when they move, if they move, how many, etc. etc. and they are the ones profiting. human smuggling and trafficking has become so profitable that the cartels contracted out to human smuggling networks and now they are fully in charge of it. they are in absolute control and i will tell you that 250 number, what they don't realize, when customs and

border protection. most people miss the fact, the number of unaccompanied minors went from january to february that jumped over 5000 and the number. they came through in january. in february that went up to 9457. that was a jump of 3599, in 5 months on par with the total number of unaccompanied minors that came over last year and at the same time in the first we 5 months of the last fiscal year you had more sentinel cross that border than you did in the whole of last year and last year was a record high for fentanyl seizures and it doesn't include how much of that did the drug is mixed into

other drugs like meth and heroin. you can see what is happening at the same time with the increase in people, an increase in the flow of the deadliest drug that they have ever seen on the streets. stuart: great report and you know what you are talking about and we appreciate that. we will be watching your show. lara logan has no agenda. it is available on fox nation. that is must-see viewing. good stuff. now this. former presidents teaming up to encourage people to get the jab. role tape. >> it will protect you. >> in order to get rid of this pandemic it is important for fellow citizens to get vaccinated. >> we want the pandemic to end as soon as possible. stuart: take a look at the stock price of pfizer. they say their vaccine is 90% effective and that is more

protection. we have some -- down 2%, bad news for their vaccine. spell it out. >> denmark is suspending the use of the vaccine, reports of severe cases of blood clocks and people have been vaccinated with the astrazeneca jab but it is just precautionary, not permanent and the s&p reporting that iceland is doing the same, also imposed this. the university of oxford vaccine is being used, and the fda, it was a place to happen in the next few weeks. according to reports, the concern over blood clots, that might make the fda look deeper and harder at the data before improving. stuart: i am sure they will but they will be under great

pressure to approve for emergency use. these are desperate times. they will respond to that. >> we already have three. that is what i am saying. stuart: maybe it will delay it a bit, food for thought. while you were sleeping, space x was launching a new mission. watch this. >> 3, 2, one, 0, ignition and lift off. stuart: amazing, isn't it? they don't launch one satellite at a time these days. that rocket took up scores of satellites. amazing. a full report for you too. today marks one year the virus was declared a global pandemic. some places to walk down. wall street journal guy dan heninger says politics is to blame. he is on the show next.

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stuart: we have looked all over the place looking for restaurants which are really doing well despite the pandemic shutdown. we found a few. we found one in particular. mcshane is at the coach meeting house on long island, new york. you say this place is thriving. tell me how they did it. >> never stood still, never stood still over the last year and a tough year for restaurants. we found survivors in this industry, in many places have been the innovators. the fire pits in the long island restaurant parking lot were never part of the master plan. >> fine dining, sit down, new york city style. >> the owner could have been finished.

>> any bar or restaurant closes at 8:00 tonight. >> the whole world shutdown, you put your life savings and it, scared to death. >> the fear gave way to action, to remember the frozen drink machine at another restaurant, set it up and it was a huge hit. they were also a big draw on instagram creating a buzz. the drive in movie theater was the next innovation but the pandemic, indoor dining was limited and restaurants all over the country were getting creative as temperature drops, tents, heaters, igloos and a remote. >> lounge around and eat food. what else do you need? >> customers finally welcomed back indoors and that original

dream centered on fine dining remains alive and well. this is one example of a business not accepting its fate no matter what comes along and the owner was telling me he is more profitable in year one then he could have imagined and the igloos behind me are booked out for six weeks. a pretty good story. stuart: it is a great story that we have been waiting for for a long time. really good stuff. the coach meeting house, you are all right, thanks for joining us. see you again soon. this is rather different here. that is an op-ed in the wall street journal titled a year of living covid. when the next pandemic comes public health experts can't be the only ones telling us what to do. dan heninger wrote that and joins us now. what is your verdict on the public health authorities and their performance over the past year?

>> my verdict is when this started one year ago, suggesting the country adopt the social distancing restrictions they identified in the 1918 to pandemic in which they found st. louis and social distancing had much fewer deaths than philadelphia which did no social distancing. 's accrued protocol. it was okay at that point. it probably, we didn't understand very much about this virus but as we went forward and as the country locked down, as restaurants were closing all over the country forcing them to take the steps, mcshane was describing schools were closed, children were home. there was a point out there in late summer where i think it would have been appropriate at the national level to step back and reassess whether there was not a middle path between total

lockdowns and some reopenings in states like california, michigan and new york. that never happened. people representing the economy, schools, society itself did not get a place on the stage with public health experts which kept defaulting to the severest protocols for lockdown. next time i think there has to be more balance in the approach we take to public health like the coronavirus. stuart: let me talk to you about president biden's term in office so far. 50 days in office and he has not yet given a solo press conference. he seems to be protected by his handlers from answering any and all questions and never go out there without a teleprompter. are biden's handlers protecting him from something which we don't know about? what do you think?

>> i think in part they are probably protecting him from something. his public statements are usually very brief. tonight is supposed to be 30 minutes but on the other hand i will go another direction with this. the press is not pushing very hard to question joe biden and that is for much of the press they feel their function has changed. it is not chasing the facts, it is chasing social justice and justice like goals. the covid relief package was extraordinary spans and of the welfare state. hr one which rewrites are reaction laws which just passed in the house is a progressive piece of legislation and for much of the press now the biden administration is moving in the direction they would like and they feel no real incentive to present very hard with

difficult fact about the crisis at the border. a sad commentary on what has happened to journalism today but that is the reality. stuart: i think you are absolutely right. we will see you next week, thanks very much. back to the markets and why not, a riproaring rally still in progress, up 350 points for the dow, 323 points for the nasdaq, that is a whopping big rally especially in technology on the nasdaq. i want to talk about coupang, however you are supposed to pronounce it. that may be the stock of the day, south korea's amazon. has opened yet? >> know that we are getting close. when that rain narrows it is an indication we are getting ever closer to first trade so coupang is the amazon, the delivery king of south korea, 63-$65.

don't forget this breaks the shares of $35 apiece, they are raising $4.5 billion, $60 billion valuation, the largest foreign company to list in new york since ali baba went public in that record-breaking ipo back in 2014. at $60 billion that is one of 7 times what it was worth three years ago but a great day to go public, there's a lot of investor interest and technology names are getting a lot of physical yesterday we had robblocks and now coupang closer to 100%. do you think the ipo process needs to be worked out here? if you're making 100% for wall street funds instead of the employees that should be getting most of these gains, that is why people prefer that model instead. stuart: i am not sure i can make a comment but i will say this.

coupang allows you to order something until 12:00 midnight and you get it at 7:00 in the morning. that is quite a performance. >> you can get it earlier than that because it is 24 hours. stuart: it is pretty good anyway you slice it. i've got to move on but listen to this. i love this movie line. just watch it. >> all right all right all right. how are you doing? stuart: that was written for me. i'm not sure i really love that but that is the line. matthew mcconaughey could soon be saying -- i'm not going to do it. all right all right all right to a new career in politics. details after this. ♪♪

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stuart: the sec has a warning for people looking to invest in the growing s p a c market. what is the problem? >> a find of irrational ofruns, a pool of money sitting there waiting to buy another company and the company they buy takes over the lifting. everybody seems to have one. we don't for some reason. the sec says think twice before investing in one's being backed by celebrities. just because someone is famous doesn't mean it is right for you according to the sec. celebrities like a rod, shack, jayzee all have their own s pacs. the sixfold increase in 2020 and in 3 months this year, half of that has been raised in the sp a c. you have to be careful, it is buyer beware.

stuart: they may have a name brand celebrity to run the things, you don't necessarily have to be a good investor but they are sponsors of it. they attract the money because they are famous for, they got the name but do they know anything about what they are supposed to be investing in. you were talking about celebrity, talk about matthew mcconaughey. >> he is seriously considering a run for texas governor in the houston crimestoppers podcast. >> what is my leadership. and what is my role, what is my category. >> did your next role include you running for governor? >> due consideration. >> serious consideration.

he said this on the hugh hewitt radio program, ram -- name recognition gets you foreign politics and the first actor to hold high office, right? stuart: ronald reagan for a started a couple others. matthew mcconaughey, texas suits him. texas as we know dropped its mask mandate but austin, the city their of pushing back, they want to keep the's in place. look who is there in austin. our own lawrence. tell me more about the texas state suing austin. tell me more. >> reporter: when you said we would talk about celebrities i thought you were talking about me but matthew mcconaughey, it is all about this.

the state of texas is suing the city of austin as well as the county it is in. the texas attorney general ken paxton says he will try to force the city and county to follow the governor's mandate to relax those rules, the county and the city have not done that. ken paxton saying it is the oxygen deprived from masking. they tried this before and lost so here is the texas attorney general on the evening edit. listen. >> don't think we heard good news so far so we will see them. the governor released us from the mask mandate and the city of austin has no authority to continue the mask mandate so we will definitely sue them if they do not comply state law. >> reporter: this be of austin not backing down was the mayor of austin said he would hold out a little longer and where the masks because the masks

brought down the cases of the coronavirus in this stated he believes the restrictions should stay in place. the governor has said it would never be up to the state to tell people what to do. it should be a choice to allow them to do it. the governor is not saying don't wear a mask that people can choose not to wear a mask if they want to. stuart: quickly now, more varney after this. hooh. that spin class was brutal.

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stuart: today marks the 1-year anniversary since the virus was declared a global pandemic. 29 million cases, 29,000 deaths in the united states of america. doctor scott atlas joins us now. was would you have done differently had you been in charge of the beginning of the pandemic? >> i think this is a time for reflection on that although we have been saying it for many months.

first of all the initial move of doing immediate lockdown that was very temporary was reasonable because we had information that this was a much higher fatality rate, lots of unknowns but very early on i and others talking about february march recognized the response was wrong and we knew who was high risk, we should have focused immediately on resources to protect the high risk. instead we locked down everybody, quarantines everybody and went into a frenzy of panic, so the lockdown that was implemented all of the world including the entire united states was tremendously destructive. it destroyed families, destroyed children, keep kids out of school. it was also pro contagion, infections did not go lower with these severe lockdowns, they were worse and they failed to protect the people who were going to die. it was a gross failure and as

we remark on how sad it was the tragic loss of lives, this was an epic failure of human judgment and public policy. stuart: if another pandemic were to come along, give me 30 seconds on what you think we should do first? >> first thing to do is figure out what has happened with the data, understand pandemic's have occurred in the past, we now have better ways to mobilize resources, protect the people who are high risk, that is point number one and we know who they are almost always, almost always, get prepared for the resources that need to be mobilized and make sure we are protecting people who are going to die. that was never done here. stuart: let's hope we can learn some lessons. thank you for being with us. i want to bring you back again. we need your expertise on this. today we say a happy 92 but

birthday to the executive chair of news corporation rupert murdoch. i want to share what mister murdock thinks about the canceled culture debate. role tape. >> those of us in media have a real challenge, a wave of censorship that seeks dishonest conversation, to stifle debate and stop individuals, societies from realizing their potential. this rigidly enforced conformity, circled social media, a straight check on sensibility. too many people have fought too hardin too many places for freedom of speech to be suppressed are this awful woke orthodoxy. stuart: absolutely right. may we say happy birthday, mister murdock and we have more varney after this.

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>> three, two, one. zero. ignition. and liftoff. stuart: that was in the middle of the night. look at this thing go. read the banner across the

bottom of your screens, spacex launches 60 starlink satellites. that is the way they do it these days, not discuss one at a time. you put them up by the score. elon musk hopes to connect cars, boat, trucks, to the internet through the starlink satellite. great story. tell you about tesla, we're talking about elon musk. nice rebrowned today. nevertheless up 3 1/2% 691 on tesla. just a few days ago it was way below 500 bucks a share. big tech, there is the story of the last couple days. that is a rebound. apple, amazon, facebook, all of them are up, some are up even two or three percentage points here. that is very solid gain for the biggest, most important companies in the world. as for coupang, the stock of the day i think it will be. supposed to go out at 45.

it is indicated to open between 63 and $65 a share. coupang is the amazon of south korea. reportedly they have 15,000 trucks to make deliveries. you order at midnight, you get it 7:00 in the morning. ain't that something? don't forget "friday feedback," tomorrow. if you're lucky we'll read the stuff on the air. so send us a question. neil, it is yours. neil: stuart, thank you very much for that. have a good day. in the meantime we're focusing on another governor announcing reopening, easing of restrictions. oklahoma's positive is the latest now to say we are going to remove requirements to wear masks inside of state buildings. more oklahomans are getting vaccine each day. wearing a mask should be a personal decision based on circumstances. in case you're keeping track of all the vaccine news and save openings, among those that loosened things up just in the past week, maryland, texas,