worker's comp insurance? get a quote in 3 minutes at maria: great show today. my thanks to dagen mcdowell and brian brenberg. thank you. have a great day. we will see you tomorrow morning. "varney & co." begins right now. take it away, stu. stuart: good morning. that was some weekend. all across the country, weather permitting, there was a spring break out. i have been in florida, new jersey, and new york city and in all three locations i got the impression america is moving with a mood change. less anxiety, more fun and it's hard to read-- see any return to lock down. the pressure is on to remove remaining restrictions. america is opening up fast and judging by the crowds i saw, we love

it. progress in the suez canal. that partial-- ship has been partially refloat it. sounds good, but don't get carried away, the massive disruption to world trade is not over. everything that is a stock will take time to get on the stock. media coverage is centered around the run on toilet paper. the supply chain for computer-chip, oil, agricultural products is still disrupted. no progress at the border. in fact, a shocking report from republican senators who had access to the facilities over the weekend, children packed together, 10% of them covid positive. cartels are renting out children to create family groups to allow easy entry. it's an open border with the administration not allowing the media access and they are asking for volunteers to help. president trump told fox he's planning a border

trip soon. imagine that, the former president who fixed the problem may visit the border before president biden who brought the problem back. many morning, spring fever, weather, sue is canal must unblock. in a moment, the markets, march 29, 2021, "varney & co." is about to begin. ♪♪ stuart: suzanne just asked me who sings this. i didn't know. i read it on the screen. very nice. that is a great view of the statue of liberty with sonny new york city , not quite reopen, but sunny. president biden says his team is putting together a plan for the border crisis. watch this.

>> republican senators were at the border and former president trump says he has been asked to go to the border. d think it would be productive and when might you go? >> we are putting in place a plan that i feel confident about, and i don't care what the other guy does. stuart: that other guy, that is president trump and he said he plans to visit the border in the next quote 12 weeks. lets get to the cargo ship, a massive ship that had been blocking the suez canal and i think the correct word it's partially free. season is with us with the great news. when will it be unstuck? susan: sometime this week according to the egyptian president and he said with the crisis in the canal, it's over and some skeptics say it may be too early to celebrate. we have this huge ship that has been re- floated. it's partially re-

floated. tug boats are trying to woodland out. the plan is to move the giant ship north of where it's grounded out of the canal so other ships can maybe start to move through the suez canal soon. right now more than 450 ships are waiting for the opening of the canal some ship have already diverted the long way around the bottom tip of africa and here's a sign there is optimism, oil prices are falling on hope to get the suez canal reopen because don't forget 1 million barrels a day ships through the suez canal. stuart: last week i thought that cargo ship, it could have been a black swan event, comes out of nowhere and upsets everything, but if they haven't partially re- floated that it might be back in business by the end of this week, not so bad. susan: losing $5 billion a day,

12% of global trade each and every day and that adds up in the back club-- backlog of 450 ships and i don't think we actually know what the implications are. stuart: delay in the supply chain is a still there. partial free-floating. how about this, by comes cbs discovery, now they really plunged friday the time come at others also taking major heads. there is something behind the major selloff and susan has the news. susan: biggest story on wall street, everyone is trying to figure this out, it's taking down stock markets and investment banks along with it. discovery, viacom cbs down 30% friday, single worst day in at least a year for these names. 45 million shares on offer and viacom cbs still a $47 this morning , so that the block trade, these are huge multibillion-dollar chunks of stocks to

trade and also baidu and others hitting the stock all it mention that's a big negative headwind. this is what we call a margin call because this is a forced liquidation of stock because they do not have the money to cover their trade so investment banks have started to sell en masse the stock. they are both down at least 10% overnight because they said they will be impacted by this and goldman sachs says we have to sell off some of the trades, but we won't be impacted as much. deutsche bank has not been caught up in this is. stuart: so the danger would be contagious if it overflows, but that's not the case at this moment. there is plenty of red ink. susan: what about long-term capital management, the fund that blew up in 2000, that's the concern, but i think nowadays

the market is so big that it won't have that big of an impact. stuart: contagion, the story of the morning pick let's bring in jason katz for our coverage of this monday morning market moving. jason, the ships looks like it will be freed, spring fever is upon us, we are getting back to working on about and the vaccination of programs going strongly. everything looks positive or a lot of things a positive except this a big fund blowing up. s the problem this morning, isn't it? >> looks like the animal spirits will be dampened anytime soon. people are caught up for good reason in the vaccine rollout, this wall of liquidity as you have referred to it and the mother of all the opening. however, it's important to not only focus on the present, but look to the future and i think next year brings a fair amount of challenges. how do we pay for this of the structure built?

of course, what will be with inflation and will the fed raise rates? i think the path of least resistance has and will continue to be to the upside for the balance of the year, but in the future you may want to start rightsizing respected in positions not unlike that family office hedge fund that went down and reign in your leverage. stuart: bats with the ready is about this morning, this a big fund blowup, that's the story of the morning and that's the reason for the red ink? >> it is. paramount to fender bender, but on a highway where everyone's been driving incredibly fast and the last thing you want is a pileup, so the market is saying wait a second, what is the next fund to maybe blowup or if we don't have a blowup, our banks going to rein in their margin

requirements and will that slow down the flow of capital, so that's what everyone is focused on this morning. it's still a lot of unknown with that issue. stuart: apart from that you are still pretty bullish, jason katz, thank you for joining us. we are nine minutes into the show and we haven't yet mentioned the word bitcoin. looking at the price, where are we? susan: closer to 60 because visa has announced they are piloting a program to allow transactions using a stable coin back by us dollars and they will use that for several transactions via-- via ethereum which is on a crypto platform called anchorage. visa will offer the service to more partners later this year. for now it's a pilot program, but think about the adoption allowing the use of crypto.

bitcoin and other crypto currencies are basically rallying on the back of more adoption and acceptance of their use in digital currency. visa is the latest company-- look at this long list of huge companies allowing customers to buy, use, trade, hold a bitcoin another cricket currencies and also trade it as well so this is a big checkmark for bitcoin is. stuart: it's arrived and it's up $4000, $58000 a coin. now this, president trump says he's planning to go to the borgerson. roll tape. >> the border patrol and the people of advice, they have asked me too go and i really sort of feel like i would to them. border patrol wants me too go probably over the next couple of weeks. stuart: if the former president visits the border before president biden or before vice president harris i would call it

that optics. president biden will speak in pittsburgh wednesday when he take questions? kayleigh mcenany is going to cover that for us and i say spring break-- spring break is happening big time. in my opinion, my opinion, there's no going back from this, folks. stay with us. "varney & co." is just getting started. ♪♪ ♪♪ not everybody wants the same thing. that's why i go with liberty mutual — they customize my car insurance so i only pay for what i need. 'cause i do things a bit differently. wet teddy bears! wet teddy bears here! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ before voltaren arthritis pain gel, my husband would have been on the sidelines.

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stuart: its early, so we are showing jacksonville beach in florida. don't expect to see many people just after 9:00 a.m., but i guarantee that fills up later today. we will check back. futures is showing a lot of red ink with a big fund that's a blown up taking the market down and do some big banks taking down as well, limited red ink, though. checking airlines because we have interesting movement there. the recent check on the airlines, over one and a half million people pass through tsa checkpoints yesterday in which 1.4 million saturday, very big numbers and they are growing rapidly sunday in million 574 through tsa checkpoint sunday. that is the highest since the way back march of last year. also, we had this from united airlines, this is surprised me as they

return to jfk airport for the first time since 2015. i never knew they left. susan: i will ask if you will look for it in the future. we will see. leslie jfk october 2016 and the ceo says maybe that was a mistake so it's like united will start with two roundtrips from la to san francisco direct to jfk, five united flight to week for both of these locations doubling in the month of may united like other air carriers i take advantage of the fact that there is a drop in traffic and takeoffs to explore maybe once too congested airports. that's the reason why they didn't ply from jfk, too many planes so instead they concentrated themselves in newark and laguardia.

new york state is down the most in terms of capacity and flight takeoff, still. stuart: fascinating. did not know that. next, covid cases and hospitalization rates down in texas, even though the governor lifted the mass command a and fully reopened businesses, even so cases are down. governor greg abbott tweeted: sunday: positivity rate dropped to a new recorded low, hospitalization to a six-month low and everyone now qualifies for a shot. look who's here, dr. marc siegel. it seems to me that we are opening up. we have spring fever and more to the point, no going back. what do you say? >> that's the quote of the day from a very smart person, no going back. a look at texas home of the mask mandate taken off hasn't had a negative impact we need to learn from that. in their positivity rate was over 10% since

october and now it's up 9%. hospitalizations down. new cases it down because the high risk of groups in the elderly have been vaccinated to the large extent. texas said all adults will get vaccinated, oklahoma or everyone over the age of 16 getting vaccinated. vaccinations are the key , that's getting rid of the virus and those we worry about the most. the increasing cases in certain areas is it due to young people but they are more mild cases. at the more we vaccinate, the more we get out of this. mandates can backfire because people get more noncompliant, they suffer more, the economy suffers more and sodas mental health. the key is to open up everything in a careful way. stuart: new york and new jersey, their caseloads have actually gone up even though they still maintain some research and. what a difference with texas who lifted

restrictions at caseloads went down. what's the explanation for that? >> part is the variance in the new york and new jersey come about vaccine covers that so the more we get everyone vaccinated, we anticipate to get half the adult population vaccinated by the beginning of man that will make a big impact in new york and new jersey. variants are the issue and it also proves the point that you can lock everything down, close businesses, restaurants, closes schools and yet it doesn't have any direct impact on the spread. opening up is the way to go. you can wear a mask and social distance but we have just day open and save what's left of the economy. the science backs that. stuart: which of the following expressions would you choose to use: the pandemic is over or the pandemic is winding down fast? >> i would say the pandemic is winding down fast and to quote another stuart varney

which i love where the virus is losing its grip on as. stuart: okay. i was an aphorism, not quite sure what that is but i will take it if it's a compliment. >> a very wise statement stuart: i thought it was a truism, but that's another story we will see you later. walking on the street yesterday wearing a mask and a guy said tell me i'm all right. susan: what did you say? stuart: look at this, breaking right now, the massive container ship that was stuck in the canal has been set free. it's on the move. traffic has resumed. i can see no difference to the markets. maybe it will have an effect later on, still red ink because of the big fund a blowup, but the ship is moving and as goodness. next, vaccine task force gaining traction like on

your screen. we will talk about that. the markets meanwhile, storm the downside reacting to the big fund a blowup. more on that in a moment. ♪♪ ♪♪ [laugh] dad i got a job! i'm moving out. [laugh] dream sequence ending no! in three, no! two, keep packing!

one.

stuart: look who is with us to cover the markets with a couple minutes before trading begins. keith fitz-gerald. the ship has been freed. there is a pun of money flooding into the markets and we have spring fever as we open up. shortly you are bullish this morning. >> in all capital letters. what's a few trillion dollars between friends with free shipping moving around the world, a trifecta of earnings, and people are going to get out and get about. it's a great time. stuart: the big problem would be this big fund that's blown up, the big problem would be if it's a contagion with a loss assist them from there, that's the problem this morning is in it?

>> it is something we have talked about a lot: these guys think leverages a national sport and it is for them, but not the rest of us and unfortunately they have taken the markets on a white knuckle ride. i think the banks will sort it out quickly. we can get back to business pretty quickly. stuart: it's been a while since i have asked but why don't you tell a short target levels for the dow jones, currently 32000. where is it going and your outlook for the s&p currently around 4000 just under 4000, where is it going? >> i'm going to punt on the dow. i'm looking at 4325 on the s&p, roughly 8.3% higher so i think it will be a good move by the end of the year. stuart: quickly, your views on a covid passport. i think it would be a great idea to revive international travel.

what to say you? >> i want one. i am keen to get to japan, italy, went to see friends around the world and do some business. it would be great. stuart: home is japan? >> for 30 years we lived part of the year there so my wife's family is there and yes, i consider that home as well. stuart: i didn't know that. i did not know you spent a great deal of time there. >> 30 years of. stuart: no doubt you want an international passport. thank you. me turn to susan. your views on a covid passport? susan: beautiful time in japan, by the way. i think a covid passport is on the horizon to get to work, to see theaters or even to go to a restaurant. i think people will mandate this and if you want to catch a game as well. stuart: but, vaccine is not available in all countries to the same degree it's available in america and say china and

parts of europe, so there's no equity there is there? susan: think about the lockdowns and quarantine, if i go to hong kong 'working for two to may 3 weeks before i can leave a hotel that the government chooses, so if there's a covid passport i think it that lessens the amount of time you quarantine i think that's a good thing for business. stuart: i agree, but the big problem is, we don't yet know if you can still transmit the virus after you have been vaccinated, so i get the vaccine shots. i get on a plane and go to a foreign country and i might actually take the virus with me. susan: i believe data from pfizer vaccine shows in terms of asymptomatic i guess transmission of the virus is pretty low. stuart: i hope so. that would open up the covid vaccine more quickly and safely. susan: more domestically as well, when can we stop wearing a

mask and can we go back to doing what we used to do in the past? stuart: would be nice to not wear a mask on a six hour plane ride. here we go, monday morning, march 29. the ship that was stuck in the suez canal is a set free. lets see that makes a difference. from the get go down a hundred points dow jones , 131%. 32900. an awful lot of red ink marks the dow jones 30. s&p 500 on the downside about .38% so similar loss for the dow jones and nasdaq is down a quarter of 1%. we will see how big tech is doing. on the screen and mixed bag facebook, apple, amazon on the upside with microsoft and google on the downside. looking at tesla, elon musk has been making

headlines again. he is on twitter and this time it's for a tweet deleted? susan: voluntarily, which is very very rare. he was not forced this time. he did it himself showing even elon musk has limits when it comes to twitter. at the deleted in question predicted tesla would be the biggest company in the world in a few months time overtaking apple elon musk that maybe i should take it down and decided to delete this tweet me also had to delete the 201920 criticizing unions after losing the recent court case in the infamous funding of taking tesla private. goes to show elon musk has limits on what he does on social media. stuart: usually he goes on twitter to boost his stock prices, at least that's what it seems like. susan: that's what he was trying to do was any saying they would be bigger than apple in a few

months time. stuart: and did not work. susan: $800 million in sales, compare that to 100 billion and one quarter for apple, a long way off the. stuart: big banks, i think they are all down. significantly lower. when you start quoting in percentage terms you know you have a problem. susan: people are trying to assess on wall street what the fallout is from the big whale fund and the blowup. mole-- goldman stanley, cartman stacks trying to figure out how much of that 20 billion-dollar blowup of the investment fund will be i guess taken or have to be swallowed by some of these big banks. last night they said their profits will be hurt by this, but liquidation self stock quickly goldman sachs may not be that big of a deal for them, but the fact that $20 trillion is not a big deal,

compare that to long-term management 2000 when the blowup affected the entire market and global economy, but i think this time around people are trying to figure out what happened with a certain stocks. stuart: if the ship has been dislodged and goldmans says it's not that bad, that's why the dow jones has come back a little. susan: morgan stanley 4%, i mean, these are monstrous block trades they are trying to unload and these are leveraged margin trades three to five times the money this fund has someone has to to take the hit. stuart: look at southwest. boeing. why are we showing you this? boeing is doing very well. we have southwest putting in a firm order for 349 max jets over 10 years, that's a huge order. @least worth $10 billion

spread over 10 years, that's a big order. the biggest coming from southwest airlines. next, 10 setback, i'm told that the china -based streaming service they announce their biggest ever buyback plan. susan: it was up 7%. this is holdings we need to throw up music. it's up-- stuart: that's the difference. susan: also caught up in the archegos capital fund blowup and they are trying to take advantage of a timing to raise a billion dollars in cash. viacom cbs also caught up in the archegos capital blowup and also raised-- last week, $3 billion, that people are upset on wall street , the ones that bought into the viacom share off, right now if

you have 45 million shares offloaded and unloaded that's traded $47, so if they bought 80 units sold it 47, they feel like they took a big hit, which is true stuart: not good. movers, there you go, huge buyback with the stock up 7%. we have other movers here starting with twitter, 2.7%. susan: upgrading the stock to a by this morning. are pointing to firmer higher revenue growth and what they call the most exciting product roadmap for the social media company in years as they start to use try this subscription service to pay or dollars 99 cents a month to follow people they want extra content from that could include extra tweets and the on send feature. stuart: twitter is $63 a share this morning.

susan: can we also threw up viacom cbs in terms of how it's doing with the 45 million shares. sold at $47. 45 million block trade again unloaded from that big whale fund blowup and also by the way it's interesting the mo capital raised their outlook on viacom cbs despite the market distortion. bml says it's worth $70. stuart: they said that today? susan: this morning. that's roughly 20% upside. can i quickly show you draftkings because it just find a historic deal with the wrestling federation the pwe. added to that their exclusive deal with ufc and draftkings with more legalization in different states. stuart: may have been doing very well recently. show me some of the dow jones winners. 30 stocks and these are

the biggest winner, boeing with a huge order from southwest poor max jets. apple, procter & gamble other big winners. among the s&p 500, twitter is the leader, carrier, boeing. as for the nasdaq, facebook, dollar tree, lululemon, appellees in their. that is the market. at that's how it open on this monday morning after seven minutes with a business that dow jones is only down 30 points. president biden stumbles through his first news conference thursday. remember this? >> i'm-- we are going to get a lot done. when i was united states senator-- i mean, vice president. >> i don't know how much detail you want. okay. where am i here?

stuart: so, does all of that meet at the next news conference is a long way away? we will talk to kayleigh mcenany about this. first, we are talking the spring break out. i saw it. either seen it. i think it's just beginning. it's a really picking up steam. economist stephen moore. look at the sunrise in nevada. good morning, las vegas. more "varney & co." after this. ♪♪ ♪♪

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stuart: purple haze, jimi hendrix. very appropriate because new york is on its way to legalizing recreational marijuana

with an agreement reached for recreational use of adults over the age of 21 with final float expected tomorrow. they joined about a dozen other states making recreational marijuana legal. the pot shops probably won't appear in new york for at least a year, so we are told. cruise lines on the downside with the governor of florida, ron desantis, threatening to sue the government if the cdc doesn't like cruises start sailing again soon. florida has three of the world's biggest sailing ports, billions coming to florida because of cruising in the governor wanted to start up again pronto. stephen moore joins us right now. reopening of america, he saw the graphic. a very accurate. look, i have been out and about and so has everyone else. spring has arrived, vaccination rates are strong. we are all out and about, dating again and

i say we cannot go back. we will knock a back. we are going forward to opening up more. that's a wonderful thing. what say you? >> it is. you know what i really love about your show, i mean, you are the only business show on television that has jimi hendrix. [laughter] look, first of all i do believe that you are correct we will see a nice spring bounce back with real increases in employment, and it will be great. however, there is a purple haze right now and that is the news over the last couple days is the number of states blue states talking again about lockdowns because there has been a slight increase in the number of cases and i don't know what it is about these politicians, but they love to lock down their economy so let's not get too far ahead of ourselves, to what

happens in the next few days. states like pennsylvania and michigan and some others say maybe we need to lock down against. stuart: good luck with that. why are you saying president biden is throwing quote a wet blanket on the economy? >> because of what we talked about last week on your show, the massive tax increases. i don't understand the logic. we have an economy getting back and finally getting back and now, we have got talk of a trillion and a half to make trillion dollar tax increase on small businesses, american corporations which will raise our rates to one of the highest in the world. there was talk again of a tax to put on your car. have you seen that i'm a device on your car and tax you per mile. wealth taxes, all of these things, i mean, i don't care if you are a supply sider like me and larry kudlow, raising taxes at a time when the

economy is getting back on its feet is a really bad idea and we ought not to do it. we need growth back, we have to get the vaccine out and by the way the vaccine rollout i have to give praise to trump and biden as it's running smoothly. that's the stimulus in the economy that will cause that spring and you think spring will be good, wait till summer. i think you-- talk about five, six, 7% rate of growth. stuart: five, six, 7% growth, now that spectacular. you are the guy who came up with the rocket ship explanation using that explanation, rocketship. look, if you get five, six, 7% growth this summer that is indeed a rocketship. stuart: one caveat. >> there will be a hangover effect from this debt and spending and taxes.

that comes a year from now or so when you see the no debt has to be repaid in this idea of raising taxes, that will hit the economy in 23 and 24. stuart: when you bend to look towards the hangover around the corner and that is a fact. stephen moore, thank you >> won't haven't-- won't happen for about six to nine months. stuart: thank you. let's get back to big tech. via facebook, apple, amazon on the upside and alphabet and microsoft it down. 75 silicon valley companies have signed a letter opposing-- get this opposing the gavin newsom recall. susan: that included steve jobs a widow, the founder of linked and former yahoo ceo as they sign this letter that urges california residents to reject

the politically motivated recall and warren it would roll back rolling progress. the last thing our state needs, they say, as it's a starting to see light at the end of the tunnel. the letter doesn't mention anything about funding to support newsom's fight for the seat as insiders say that's probably the next step. gavin newsom is under intense pressure but they recall vote becoming more likely. organizers have close to the number of signatures they need, so far they have 2.2 million, but they need to be verified newsom has dismissed the recall efforts as a political power grab by republicans. stuart: the core, supposing california were run by republican governor, before. stuart: moving on your checking

the big because the loss has been paired to a small loss, down 14 points. 33000 on the dow jones. 10 year treasury yield, and other thing we haven't dealt with. 1.66%, little change over the past few days. price of gold $1711 per pound. bitcoin, $58500 a coin. oil, what's happening there because we have the ship in the suez canal-- it is free and moving with oil down 1%, $60 per barrel. by the way, the price of gasoline, $2.86 per gallon, that's been holding steady for the last three or four days, but up more than 80 cents from one year ago today. senator ted cruz share this video of a biden staffer blocking him

from recording at a migrant facility. roll it. >> you keep standing in front of the picture. the rules are arbitrary -- >> those are the rules dignity and respect. >> is this dignity and respect? stuart: ted cruz for you. what happened to transparency? we will head to the border after this, but first look at beautiful san francisco. of that's the place i came to an like 19-- i got my start in television in san francisco. can't see much in the midst, but it is still there and it is still beautiful. ♪♪ ♪♪ but my home of my dreams needed some work sofi was the first lender that even offered a personal loan.

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stuart: we have live pictures right now, that's a drone shot, live apprehension right there. that's where casey steagall is. with you have for us? reporter: really it just shows you that it doesn't take long to get the action when we plopped down in a particular spot all day for live broadcasts.

we can see it with our own nice and you are looking at live pictures of one of these apprehensions, now a larger group. the chief of the border patrol sector, says they have seen a 300% increase in apprehensions in alaska for days despite the latest messaging attempts, officials said the flow of migrants into the country is not slowing as you can see them live pictures in neighboring rio grande valley sector of south texas, another area with these record-breaking arrests. this comes as federal officials struggle with where to put everyone. >> even though we have begun the rolling back policies like remain in mexico title 42 remains in place that the consequential policy. we cannot return children back by federal law. we have to ensure their safety and prioritize them as they are a

vulnerable population. reporter: later today texas a senator ted cruz is making another stop at a different overflow facility and will to her up in dallas at the dallas convention center with a lot of lawmakers passing through as you know trying to figure out what's going on and to get transparency. stuart: we would all like to know. thank you. coming up on this program shortly, martha maccallum will be with us, steve forbes, kayleigh mcenany and chad wolf. we will be back. ♪♪ ♪♪ usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa

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♪. stuart: good morning, everyone, it is 10:00 eastern time. right here new york city, going to get straight to your money because the loss for the dow has been limited we were down well over 100. now we're down 60. the loss for the nasdaq has picked up steam. we're down 180 points on the nasdaq. big tech taking it on the chin. the yield on the 10-year treasury moving to 1.86%. look at the price of oil, please. that is affected by the headline of the day.

oil at 60 bucks a barrel. the headline that giant container ship that was stuck in the suez canal is now been freed. it is floating freely. i believe it is on its way. and now this. all the checks are going out. you probably got yours already. the vaccinations are proceeding very nicely, very soon any adult who wants a job you'll jab than get one. the pandemic in my opinion winding down. again my opinion we're out and about again the spring break out changing the national mood. the president getting benefit, he is doing well in the polls but, about underneath it all it is easy to feel uneasy. some things are not right. all this money thrown around, it's a grand experiment. we've not done anything before. how will it end up?

chronic inflation? a debt crisis? ink abouting on borrowed money worries but the hangover, doesn't it? the border crisis is you call it a problem or a challenge, call it what you will, but anxiety is well. the biden team asks for volunteers to help out at the border? good lord. europe was changed forever when they admitted their migrant surge. the school crisis that is a crisis so many of our children lost a years worth of education. parents are understandably anxious. especially when they see teachers unions trying to kill school choice and returning to full learning until after the summer. the breen new deal that is socialism in climate disguise. are we really ready to transform society like this? yeah, the checks are nice. the breakout is fun but you have

to worry when the socialists are pulling joe biden's strings. the second hour of "varney & company" is about to begin? ♪. stuart: listen to president biden on the border. roll tape. >> we've seen republican senators at the border. former president trump has been asked by border patrol agents to go to the border. do you think that would be productive? anytime table when you might go? >> we are putting in place a plan that i feel confident about and i don't care what the other guy does. stuart: the other guy being president trump who says he will visit the border soon. the gentleman on the other side of the screen is brad black man. welcome back, brad. do you want president trump to go to the border before

president trump or vice president harris get there? >> absolutely f they ignore the border crisis, president trump should shed light on the exact crisis taking place. government's number one job is to prevent harm to our country. not merely to respond to it. how can we be so far into the biden administration he doesn't acknowledge a problem on the border. brian harrison chief of staff at hhs from trump is running for congress from the 6th district of texas, taking place of ron white who passed away because of covid. he brought a lawsuit because the biden administration totally disregarded title 42 which is a provision to keep other country safe from outside immigration that could hurt the health and safety of americans. and the flooding across the border of people as you reported in your last hour, texas is doing much better now with covid and now it is all about to go

south literally because of this invasion of population where texas mexico do not have the control over that border. so, no, president trump should go there. he is not in the bunker. he needs to go and shed light on the truth that is happening down on the border. stuart: but the president, that would be president biden is popular. because the checks are going out, people are getting the money and it is spring fever. getting out and about socializing. the pandemic is in the rear view mirror and president biden is popular. do you think it lasts? >> i do not. for the very reason you reported in your commentary. this is, this is a high, a fix that americans are feeling good for the moment but in the long term this will hurt america. just when we're getting a handle on the fan pan our borders are open, this is cause and effect of policies which biden, harris

brought forth in our country. all the good that is happening will be reversed with the economy and health. nation. stuart: that bad, because of the border? >> absolutely. i think having people come across the border with a health crisis happening in mexico. mexico doesn't have a handle on covid we do, this could be a disaster for our southern states. don't forget, a lot of these people are coming across the border are now being bused and flown all over our country. stuart: that is true. that is very true. brad blakeman, thanks for being with us today, we'll see you real soon. thank you, sir. if you check the market, you see a fractional gain for the dow, a major leagues loss for the nasdaq. it is down 108 points. way down, microsoft is down four bucks just a moment ago. brian belski is the market guy monday morning at 10:00 eastern time. brian, you are still a bull, are you not? do you see just continued upside

momentum out front of us? >> we are, stuart. good morning. thanks for having us. it is hard to be positive after your prelude, listen, we're still the greatest country in the world. we have the greatest companies in the world. stuart: wait a minute, you take my point. you take my point. >> i do. look, i do. stuart: opinion lar at this moment. checks are going out. spring fever has arrived but i do worry about all the money we're chucking out there. surely that comes home to roost in the market at some point, doesn't it? >> it will at some point once the earnings momentum and growth momentum begins to fade, stuart. given the fact that fed will remain on hold, through all of 2022, think about that, we have nine more months of 2021 and 12 months of 2022. to kind of work through this. but at some point mr. biden will probably have to raise taxes.

that will spook a little bit of market. we have to understand what in terms of minimum wage and wage inflation. 14 months ago we had sub4% and no wage inflation. the whole notion of inflation taking away from things i think we're sever years from that. we are several years from this. remember, two, mr. biden will probably, a, infrastructure bill i mean, that is going fob focused on job retraining, robotics, infrastructure with respect to what we need in this country. we had not a infrastructure bill in terms of, transportation since the interstate highway act from dwight eisenhower in the 1950s so we are overdue for that. in the meantime as we poll our institutional clients around the world, stuart, nobody believes we're in bull market, to me, we're still climbing quote, unquote, a wall of worry. guess what?

we want to buy american companies because they're the best ones in the world. stuart: you survey clients around the world, they do not believe we're in a bull market, even though we're going up virtually unbroken for 13 years? >> no. here's the point. here is the perspective majority of these clients underperformed they have timed the market, they have been wrong. they missed the lows last year. they didn't get in until june, july, august part of september were quite volatile, then again everyone worried about the election. world would come to an end when the blue wave came. they were not invested. they missed a big part of this, stuart. again, most of, most of the clients we talked to are negative, yet the market continues to go higher. stuart: so participate, so good. bullish brian belski welcome back. great to see you. see you real soon. a lit race they're, works wonder. we're following the market. look at big movers. banks are big movers.

what else you got? susan: down on wall street by the way as investors are trying to figure out impact, who has been impacted by the fund blowup. $20 billion of fund blow up. they don't have the money to cover the trade. margin call what is it is called. they extended five times in credit to what cash they had on hand. viacom cbs lost 40% last week. down again after 45 million shares were sold. liquidation at $47. we're below that level. discovery dropping 30% on friday in one session. worst single day in a year. baidu, asia based stock is being impacted. sold off in the billions. the fund at the heart of this is archegos capital, bill wang, who was convicted of insider trading back in 2012. as we do the flipside, we're

coming back. facebook close to 2%. i saw microsoft -- stuart: microsoft is down four bucks. susan: is that the only focus you have now? google is almost flat. so is apple. stuart: stick with that statement, big tech is coming back, exempt for microsoft. susan: exempt for microsoft which is your main focus. losing 1% is not a selloff. stuart: whatever you say. i want to see visa. they are now, wait a minute. have they become a bitcoin play? they're accepting bitcoin. susan: that's right. that is helping bitcoin prices. we're closing in at 60,000 almost, big deal a largest credit card network in the world is piloting a program to allow transactions using a stable coin backed by u.s. dollars. then visa will use this stable coin to sell tans actions, via crypto ethereum on a digital platform. stuart: what is the stable coin? susan: backed by u.s. dollars. whereas ethereum and bitcoin are

not backed by any fiat currencies. the fact their own stable digital u.s. coin. stuart: their own? visa has their own sort of coin? susan: it depends how it is executed. but for now, that is what goes through their network. stuart: what roll does about it coin play? susan: it doesn't. stuart: it doesn't play any role. susan: transaction and thinking if visa allows their coin for now, that bitcoin maybe around the corner and other cryptocurrencies. you see the surge in adoption, usage and other companies allowed customers to buy, sell, trade and hold. stuart: 58,000 bucks per coin as we speak. susan, thank you very much indeed. liberal comedian bill maher sounding the alarm about the drastic change in our school system. watch this. >> used to be the school would be afraid of what the parent thought. now the parent is afraid of going against what they are teaching in school. even when they don't agree with

it. stuart: well, some applause from the audience there. the woke mob has something to go do with that story. we'll cover it for you in a moment. nike, distancing itself from these. they are called satan shoes. human blood somewhere in there. we have details if you really want them. we got them. free at last, the massive cargo ship launched in the suez canal on the move. we have the latest on that after this. ♪ ♪ ♪i've got the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪

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the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. ♪. stuart: state of play on the markets, about 50 odd minutes into the trading session.

the big deal here is, nasdaq. down 109 points. show me bed, bath & beyond. it is still on the upside i think. yeah it is, about 1% higher. they have been poaching executives from wayfair and walmart to help grow their online business. investors seem to like it. that is almost 30 bucks a share. the giant cargo ship that was stuck in the suez canal is now free. traffic back to normal? susan: free as a bird after multiple tugboats were bought in to wiggle the massive ship free from the mud and canal. it is out of its way in the suez canal so other ships can now get through. you have more than 450 ships awaiting near the mouth of the suez canal, trying to get through hopefully diverted long way around the bottom tip of africa, cape hope. oil prices here is sign things are up and up.

oil prices down almost 2%, almost a million barrels a day go through the suez canal, 12% of global trade. hopefully when more ships pass through, chips, exports, toilet paper get through. stuart: let's not forget on toilet paper. there was a run on that. i'm interested in how fast things get back to normal. i presume there is a delay once all the 400 ships get through the canal. who better to ask daniel yergin who knows a thing or two about the shipping business. the ships are free. can shipping companies breathe a big sigh of relief? >> no. i think, well they, big sigh of relief, it was you know, it was too big to pass. now that ships can pass but the big problem now is that ports around the world, supply chains are disrupted any way. this will really add to the disruption, the delays, and kind of overwhelmed ports

particularly in europe. it just adds to the disruption in the global supply chains. stuart: you call these giant container ships treasure ships, don't you? that is the expression? explain that one. >> in the new map i describe them as really china's treasure ships in the 15th century, china had huge treasure ships when it was a huge naval power. the huge ships, you know the scale of them really what has connected china to the world economy. without container ships, china would not be the in a sense the manufacturing workshop of the world it is. take that ship, the ever given, leaving on a normal run from shanghai to rotterdam, filled up to 20,000 containers with everything. this is the foundation of the global economy and seven out of 10 of the world's largest container ports are in china, not surprisingly. stuart: but, is there a problem with these containers? actually the containers

themselves getting them to be in the right place as the world trade system starts firing up again? >> it was basically, a lot of this goes back to the pandemic, and it was still feeling the effects of pandemic, there was such a demand, take the united states. people are locked down. they are ordering things for their house. they are ordering electronics. huge surge coming from china. containers are empty going back from china. the containers are not in the right place. shortage of everything else, is shortage of containers in the places they need to be to move goods? look at west coast of california, big port is long beach, lo los angeles. that is jammed. they have a traffic jam there right now. stuart: is it correct to say between five and 10% of the world's oil goes through the suez canal? is it that big a shipping point for oil? >> yes. it is about 7% of world oil right in the middle of your two numbers it goes between in the

canal. also 20% of what is called lng, liquified natural gas. so in 20th century the suez canal is a highway for oil. it still is. it is more the highway for these giant container ships. stuart: is there anything wrong with the canal, that big ships might get stuck like this? >> it is narrow. it takes careful piloting. these pilots get on to do it. so it is not a piece of cake to sail through. that will be the postmortem. was it winds that did this. was there mistake that was made. even of course when they were trying to dislodge it, one of the concerns was not to do it in such a way as to cause the hull to break. so it is not an easy passage through the canal but it is a bedrock of global trade. stuart: how about the panama canal, any problems with that functioning? >> well, panama canal has been widened to take the larger ships.

one of the main going through the panama canal is u.s. lng in the form of shale gas, exporting it to asia through that canal. it can accommodate it but is sort of gotten jammed up. people were doubling up on the suez canal because panama canal is pretty crowded. so far no problems. it is not as easy, not as difficult to pass through as the suez canal. stuart: two canals, really all major importance for the world trade system. got it. daniel yergin, thanks for being with us as always. thank you. >> appreciate it. stuart: thanks so much. now, a draft of the world health organization, w.h.o., and china, their study into the origins of covid, it is just been obtained. ashley, come on in. what have we got on this thing? ashley: good morning, stu. that it is linked to animals, not a leak from a lab. a joint w.h.o.-china study on the origins of covid-19 says

transmission of the virus from bats to humans through another animal is the most likely scenario and a lab leak is quote, extremely unlikely. hmmm. the findings raise many quote though and a good deal of skepticism. exactly what animals could be the culprit? still very unclear. they don't know. bat viruses are very similar to covid-19 but research suggests there is an unidentified missing link. the report release repeatedly delay, raising questions whether china is trying to distort the conclusions to prevent blame for falling on itself, china. as we know, the w.h.o.'s credibility is also come under a lot of scrutiny, stu. stuart: sure has. ashley, thank you very much indeed. antifa rioters smashing car windows, assaulting drivers. this happened during a freedom rally outside of oregon's state capital, listen to this.

[applause] stuart: details on that one for you, just a moment. first, restaurants, yes, they are opening up. some owners say they can't find employees to work because they're staying on unemployment. we're talking to a restaurant owner who just can't find workers to come back and work. can't find them. we'll be back. ♪ [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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♪. stuart: benefit of our radio listeners, who we love by the way, the dow is down 58. the s&p is down 22, and the nasdaq is down 116. i'm seeing red ink but spring is here and restaurants across the country are coming out of hibernation. look who is here, look who is back, chris coombs restaurant enter in boston. here with us. you are having problems getting customers back to your restaurants. >> we've seen a surge this weekend. it was the busiest we've been in

13 or 14 months. we're trying to hire. we're still 175 employees down from our previous counts. we're not even getting any applications, stu. stuart: why? >> well, i believe it's a multitude of factors. first and foremost our industry has been remarkably inconsistent employment for the last year. which doesn't have our employees confidence that they can have a good job when they come back. it is a lot safer, a lot more secure to sit home to collect your federal unemployment benefits knowing exactly what you are going to make every week. the other factor, we've seen many in our industry that wasn't taken care of through the pandemic change to different jobs. we've seen workers go to real estate, construction, other areas. we've seen 150,000 restaurants close across the country permanently. yet, they're there is still a short supply of workers. where has everybody gone?

stuart: if you're getting money all the way through september, i understand the dilemma. how have you done after a year's worth of the pandemic? i assume you got some money from the government. you just told us your workers were getting money from the government. >> sure. stuart: i take it financially you come out of this okay, you lost a year's worth of profit, that it? >> well, i originally had four restaurants. currently only three are open. we have one downtown location that is still heavily impacted by no theaters, no one going to business, office buildings. you know, hotels being closed. we have not been unscathed. the initial move, the initial shut down before there was relief, we laid off everyone, all 237 employees. once you do that, people will fend for themselves. they will look for other jobs. they will look for stay at home jobs. people see that the federal benefits don't expire until september. a lot of people are making the choice to stay at home, you know, either for safety reasons

or just they want to take a nice leisurely summer. maybe they will return in the fall. right now we do not see the workforce returning to the restaurant business and hospitality and leisure in general. stuart: chris coons, we'll check back in with you later this year. we'll see how you come out all of this. chris comes from boston. >> look forward to it. stuart: thank you. this, lil nas x, the "old town road" singer, got that? releaguesing a new pair of shoes with nike. there is major controversy, ashley? ashley: yes, so-called satan shoes. by the way they cost 1081 bucks, not sure that number. 1018, maybe i'm missing something. they feature a drop of human blood in the sole, not seoul. demonic symbols, pen at that gram, bible scripture from luke talking about sat i satan's

banishing in from heaven. he released a version which is version of nike's sneakers, criticized as they debuted on palm sunday, not the time to be talking about satan. nike quickly distancing itself from the shoes it absolutely had nothing to do with them. the sneakers were actually made in collaboration with a company of chmf. has reputation pushing boundaries. they were behind so-called jesus shoes that featured holy water in the sole. stuart: 1000 bucks a pop, i can't imagine it. serious stuff. rioters assaulting drivers outside of oregon's state capital building. ashley i saw reports that the rye rioters were armed is that accurate? >> there were 200 antifa members, some were heavily armed. they clashed with right-wing

supporters and police near the oregon capital in salem. they were responding to a freedom rally, people flying around with american flags. antifa members through paint and rocks at number of flag bearing vehicles. this was shot by conservative journalist andy gno. [. [applause] ashley: you can see the window being blown out, drivers side window smashed. driver cone fronts antifa members, his windshield was covered with paint, smashed in the back. he pulls out his gun right here and says, get away from me. but then soon after is arrested by police. no injuries. no shots fired, reported but several arrests were made. police eventually broke up the antifa protests declaring unlawful assembly. maybe they should have done

that. stuart: one more for you, ash, in los angeles, as we know crime surged after the defund police movement rolled along. they will reverse course and increase spending. how much of an increase? ashley: yeah, but, here is the but to the story. $36 million that is the amount the l.a. county metro transportation authority agreed to add to law enforcement budget for the rest of this year. it is 75 million short of the amount requested. as you say, police are combating a spike in crime across the city, l.a. recorded 39 homicides in january, 34% increase over the same time last year. follows a very violent 20230 that saw 350 homicides. 36% more than in 2019. as you remember, the last summer there was a nationwide push to defund the police. l.a. city officials voted to cut 150 million from the lapd's nearly two billion budget.

reducing number of officers on the street by more than 200. less police, higher crime. you do the math. stuart: it figures does it not? ash, thank you. >> yes. stuart: a u.s. senator blocked from recording at a migrant facility on the border. watch this. >> you keep standing in front. pictures. you don't want the pictures taken, the rules are arbitrary and they're designed to keep people in the dark. >> respect. that is all we ask. >> no, it is this dignity and respect? >> give dignity and respect to the people. stuart: you knee, he is a united states senator. you're telling him you can't film. come on? what happened to transparency? former acting dhs secretary chad wolf is here to talk about that. first, minneapolis bracing for protest as the trial for officer accused in the death of george floyd gets underway. martha maccallum is on the ground in minneapolis. she will join us next. ♪

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stuart: all right. we've taken a turn to the southland. the dow is down over 100. credit suisse, nomura, they expect significant, their word, significant losses from the blowup of this big archegos fund. archegos. thank you. trial of derek chauvin is underway. jeff paul is in minneapolis. what is the city preparing to do for maybe riots in there? reporter: stuart, it is pretty quiet in downtown minneapolis. there were people out earlier, having chants, clearing a few signs. they have cleared out, not sure if it is the weather or what is

happening. the city is definitely prepared. they have the fencing up around the outside of the courthouse. maybe you can see between three rows of fencing. that is the national guard sort of blocking and controlling some of those major checkpoints where you see cars and personnel coming in and out of the courtroom. but you can see the fence goes around the entire perimeter of the courtroom. now the police chief here in minneapolis talked earlier last week about sort of preparing and saying that they do remember what happened last year when there were demonstrations, protests, eventual riots throughout downtown minneapolis. the chief recognizes demonstrations are first amendment right but so far during jury selection everything has been peaceful. >> the first pillar, is the first amendment, constitutionally protected speech for folks to gather together peacefully. they assembled, gathered

peacefully. we continue to expect more demonstrations. reporter: stuart, we should mention we were out here a couple weeks ago during the beginning of the juror selection process. there were probably a few hundred people out here chanting, doing textbook demonstration. no major issues then. police are hoping that is the same case now as the actual trial gets underway. stuart? stuart: jeff, thanks very much indeed. i want to bring in martha maccallum, anchor of the story fox news channel. martha, you talked to business owners in minneapolis. what are they telling you? >> well, stuart, you know, there is two real storylines here, right? you have the trial which is getting underway. just watching the opening argument of the prosecution by jerry blackwell. he is on keith ellison's team, the state attorney general as they lay out the case. the jury has been given instructions by judge kaye hill. they are obviously going to be a

lot of pressure to stay off social media, not discuss this, because it is a venue driven trial. they wanted to move the trial. they were not successful doing that it is happening here. derek chauvin is in the courtroom over my shoulder as all of this gets you know way but you point to the businesses and the culture and people who live in machine minn, there is such a huge amount of tension, stuart, ahead of this trial. so many of them lived through the riots last summer. there is this entire sort of outer circle of the interpretation and perception of this trial, what it means for the people of minneapolis who basically have lived through a level one defunding of their police. they have, feel very little protection from the police for their businesses because of what happened last summer, because of the abandonment of the third precinct. we were around town, yesterday. there is very small presence of police. around the courthouse there is

100 national guard. communities put together text chains to protect each other. watch out for their businesses. watch out for the neighborhoods. it is an environment i think a lot of americans would not find familiar in their hometowns where people feel like they had to protect each other. that the protection of the police is diminished greatly because of the efforts of the city council and mayor of minneapolis, to change the dynamic of the police department after the death of george floyd. there is actual facts of the trial. the trial gets underway. there is larger picture how much pressure businesses and communities feel they are under for what is likely to be a two to four-week process to play out here in minneapolis, stuart. stuart: thanks very much. martha maccallum, right in the middle of it. we thank you for being here with us this morning. martha maccallum. >> thank you, stuart. stuart: we'll watch you later on fox news. today, yes, this is the last day amazon workers in alabama have to vote if they want to unionize. connell mcshane is on the

ground there. he will tell us how the vote is shaping up after this. ♪.

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stuart: plenty of red ink on the market. the dow is down 120. the nasdaq is down 112 points. we'll have more coverage of that in a moment. first the amazon union vote. it ends today by the way. our own connell mcshane is on the scene in bessemer, alabama. you've been talking with some of amazon's employees there about this vote. what do they tell you? reporter: a guy who works here stuart, darrell richardson, he is the guy who started the whole thing. he called up the retail department store union during the pandemic. has taken off there. some workers are complaining of the conditions in the plant behind me. they say they have been treated like robots. they're afraid to take bathroom breaks. that kind of thing. i say amazon pushed back hard on that narrative saying it already provides a lot of when is being asked for. you know, they have wages for example, everybody working here makes over $15 an hour. and that narrative that the company is putting out does resonate with some of the workers who we have been speaking with here on the

ground. take a listen. >> inskilled labor starting at $15.30 an hour is unheard of. this is unskilled. unskilled labor. so where else can you go and work for $15.30? reporter: now the union called in the big guns. recent days, bernie sanders was here on friday. republican senator, marco rubio is on their side as well. speaking with the president of the rwdsu, you can tell they think this vote is big. it is just the start of something much larger. >> this is a seminal moment. this is a historic moment and this i believe is towing to lead to a movement of labor organizing. reporter: all that remains to be seen. unclear when we know the results here in bessemer. both sides think it will be close, stuart. they will start counting the ballots tomorrow. either side could challenge the

results that could drag out the process a little bit. we'll follow it. stuart: got it. connell mcshane, want to bring susan into this. will we see amazon votes around the country? susan: we'll see how this amazon alabama vote. we'll talk about the more direct fighting back amazon is doing. this is everybody talking. if we can bring up the tweet from amazon news in relation to, to elizabeth warren on friday. they are just much more direct. vox media, reports this is coming directly from the top. jeff bezos is instructing his executives to push back harder on critics like bernie sanders, like elizabeth warren. you heard that from dave clark, one of the top executives calling bernie sanders all talk, no action. whereas amazon actually provide as progressive work place. look at this. stuart: one of the most powerful politicians in the united states just said she is going to break up, i can't read it, took it off the screen, break up an american

company. thank you. an american company so they can't criticize her anymore. very pointed. susan: very pointed. stuart: directed straight at her. bezos is fed up with bernie and elizabeth warren. susan:s does it surprise but the timing about the more pointed communications strategy from amazon, just ahead of this bessemer, alabama, union vote? amazon has not faced anything of this size of 6,000 workers ever in the u.s. last time they faced a union vote was in delaware with a few hundred workers in 2014. they're concerned obviously. if this vote passes in alabama, can you imagine how many more of the hundreds of thousands of fulfillment center worker employees will want union benefits as well? stuart: a few. maybe bezos should do something about the "washington post" he owns lock, stock and barrel which vigorously supports -- susan: that is separate from amazon. that is a private investment. stuart: i know. he has got control of

"the washington post." if he doesn't like bernie and elizabeth warren, they could change it in the editorial policy at "the washington post." susan: you're saying use "the washington post" to go after bernie sanders and elizabeth warren if you want. stuart: why not? why not? why is the "washington post," the most outrageous leftist organization in america, with a few other exceptions, and his owned by bezos who with bernie sanders having a go at him? susan: right. stuart: come on. come on. take the gloves off. susan: that is your point? stuart: talk about money for a second. you're involved. the big banks all getting hit, big time? look at that. explain, please, susan. susan: this goes back to the big multibillion-dollar hedge fund, family office now that is blown up. you saw nomura, and credit suisse trading down at least 10% on european and asian side. these are investment banks, extended credit in these highly leveraged bets that have now had to be called back and have now had to be wound down because the

fund at the heart of this, archegos, will wang, can't pay the leverage or money to back the trade. stuart: he has to sell a lot of stocks. susan: he doesn't. the banks are forcing him with a margin call. stuart: they have been sold. things like discovery, now down another 4%, viacom cbs, that is down again. they are all in the fallout. and big banks are going down with them. susan: discovery, it is interesting, discovery started off the session higher. we're in a choppy session, down to the session lows. also viacom cbs got two upgrades this morning from bmo capital, calling it a near $70 stock. this morning 45 million shares in the a brock trade selling off viacom cbs at $45. we're trading now below that level. multibillion dollars of these stocks have had to be off-loaded. when all that supply hits the market that makes the stock price go down dramatically in

these cases. stuart: that is why the market shows so much red reasoning. red ink. susan: we're down half a percent for the dow. if there was serious contagion, you have seen it back in 2000 with long-term capital management, if there was serious contagion that would be at least 500 points down for the dow. stuart: okay. no serious contagion yet. susan: no. i. stuart: i wouldn't want to i am pry it is coming either at this point. susan: goldman sachs says it will not impact them as much as credit suisse. stuart: they're killing my ear drums, susan. got to go. susan: i was contained. stuart: you're contained. steve forbes, sean duffy, chad wolf, kayleigh mcenany. i've been to florida, boston, new york city, america is busting out of lockdown. this is great stuff. i will share it with you after this. ♪.

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>> we've got free shipping again moving around the world, a tritech of earn -- trifecta of earnings, and people are going to get out and get about. it's great stuff. >> it's9 important to look to the future. >> there is a purple haze out there right now, and that is the news of the last couple days is that a number of states, blue states, are talking again about lockdowns. >> we're till the greatest country in the world. we want to buy american companies because they're the

best ones in the world. ♪ hey,ya, hey ya ♪♪ stuart: the music is upbeat and louvrely. okay. -- lively. i kind of like that on this particular day, so we'll take it. yes, it is 11:01 eastern time. yes, this is monday, march 29th. let's get straight to your money. i see plenty of red ink. dow's down 150, the nasdaq is down 150. the banks, big selloff going on there. one big hedge fund has exploded, and the losses are cascading out from that big fund. so the banks are really taking it heavily on the chin. goldman sachs is down, i mean, look, there's a whole list there of big banks, bigtime down. that's the state of play right now. hedge fund blows up, lots of worry. now this. in the last three days, i've

been in florida, new jersey and new york city. oh, what an eye-opener. there's no doubt about it, america busting out of lockdown mode. it was exhilarating. it's refreshing. florida has been open for months. go there now, and apart from people in masks, you would not know there's a pandemic. there are traffic jams in the morning and late afternoon. the vast majority of people are back at work. the schools are open, restaurants and bars are packed, and there was a 30-minute wait to go through tsa at the airport. how about that? that's a return to normal. o.k., masks make it a different kind of normal, but the mood is the same as it was in 2019, upbeat positive. in new jersey, which has not fully reopened, a very similar story. the people are out and about. they are way out front of the state's leadership. they were standing in line to get into the restaurants. at the mall saturday, the parking lot was jammed, and the tsa wait came in at 45 minutes.

new york city, midtown manhattan where we are now, still nowhere near back to normal. the office towers are still close to empty, but elsewhere in the city my colleagues tell me the crowds were back on the street bigtime. and, of course, there's texas. i've not been able to visit, but the news this weekend was very positive. no spike in covid cases after governor abbott lifted almost all restrictions. this is where we're headed. remove restrictions, open up, change the mood. there is no going back. as texas shows, there's no need to go back. now we're at holy week, the days that lead up to easter. i have no doubt that the open-up trend will speed up even more. the pandemic is in the rearview mirror. ain't that cool? the third hour of varney "varne" is about to begin. ♪ ♪

stuart: 11:03 eastern time, and look who is now with me, the one and only sean duffy, father of nine. we'll get to that in a moment. the lockdown mentality, i think, totally behind us. what say you? >> i agree. i've been traveling over the last couple of weeks, a had to drop my kids off in arizona at their grandparents and fly out to new york. full tsa lines are back, took my wife out to dinner saturday night here in midtown the, 30 minutes to get seat in a restaurant, so, yeah, i think people are so sick of being cooped up, they're looking at the science and saying, listen -- more people are getting advantage sit nateed -- vaccinated, have had covid themselves -- stuart: my point, you can't go back. oh, sorry, cases are back, you can't do that. >> that's not the right thing to do. you look at the difference between california and florida. florida has still had, you know, an open economy. yes, it had some covid cases,

but no more than california that's locked their economy down, so lockdowns don't make sense, right? stuart: got it. now we get to the bit where we talk to you about being the father of nine. let me digress for just a second. billbill maher says parents are afraid of not being woke enough. watch this. >> used to be the school would be afraid of what the parent thought. now the parent is afraid of going against what they're teaching in school. each when they don't agree with it. climate of fear that people are are living in in schools, fear of not being woke enough, of not speaking wok enough. stuart: how about that? the fear of not being woke enough. sean, as we keep saying, is the father of nine. what say you? >> i think there's some truth to it, but what parents don't realize is there's more parents that agree with them in pushing back on this woke culture in schools. so if more parents, you know, found each other and would push back together en masse on the

schools, they would be more successful. and when we speak with one voice with, you know, 10 or 20 parents, you'll have far more success. this is the problem, stuart. if you look at the teacher colleges, the colleges across america, some of the wokest segments of the america are the teachers' colleges, they're the ones that come into our school districts and start, you know, talking about, you know, critical race theory, how bad america is. and so the only way you change that is if, one, you speak with one voice to your school, but also you have to get on school boards. in wisconsin one of my good friends, his wife is running. she's a right of center lady, a mom of three, and i'm amazed at how hard the left plays for school boards. conservatives complain about it, but where are they giving money, knocking on doors to have an impact on school districts as cross america? the money that we've spent in the wisconsin state race for the school superintendent, the left is spending ten times as much

money as conservatives. so you can't just sit back and complain, you've got to get involved. stuart: i didn't realize it had come to that level. that is extraordinary. sean, we wish you well with nine children fighting wokism, good luck to you. >> the thank you. stuart: next time you're on the show, want to talk to you about cryptos, because i know you are a crypto guy. >> i love crypto. stuart: i'm not in that club yet, but you never know. >> join the party, stuart. stuart: i think i might be too late, but we'll see. sean, thank you, sir. all right, now this: my colleague, larry kudlow, sounding off against president biden's tax plan. watch this, please. larry: most of these initiatives are anti-business, a lot of class warfare against wealthy people. you're not being competitive around the world, you're not going to bring investment home. your going to repel investment, corporations will leave, inversions will start all over again.

stuart: steve forbes with us this morning. steve, i have to tell you that it was the british who invented class warfare. do you see class warfare emerging now in america? >> well, larry's right in the sense that they're trying to stoke end envy, anger at people who do well. that's the whole thing behind this wealth tax, people who do well without their permission and control, that's what they don't like, this independent spirit. so they want to rouse anger. and that, of course, poisons not only the economy, but poisons politics and social life. it's got to be fought on all levels. and, by the way, this whole thing on infrastructure has the implication that only government can guide infrastructure in the economy. they forget that two-thirds of the infrastructure in this economy is the private sector. and where you are problems there like sometimes with electricity generation, it's because government mandates. biden's talking about the building these new generator, these pods for electricity for

electric cars. and did government build gasoline stations? no. if there's a demand for it, the private sector will do it. there's not an infrastructure problem when the private is sector's involved. when you free up people, everyone has a chance to do better. they don't get that, they don't like it, they want to be in control and acarouse the worst -- arouse the worst instincts in the american people. stuart: at this moment the economy's doing extremely well as we open up and get vaccinated. my question to you though, steve, is supposing we get tax increases, and some form of tax up crease is likely, will -- increase is likely, will that kill the economic recovery stone dead? >> it'll not only, not only it'll do it later this year as people have the initial spending, so, yes, it will hurt, kill the growth of the economy if these tax increases go through as they propose them, and we also have to watch out for inflation. trillions and trillions of dollars have to be financed. the fed is going to end buying

most of those bonds, which is money printing. so we're going to have a stagnant economy and higher prices, inflation. and it's all so tragic because it's so unnecessary. the biden administration if took a six month vacation, taxpayers would be glad to pay for it to get them out of town. you'd see this economy booming, and they'd look like geniuses. but they want control, that's what it's all about, controlling our lives. stuart: last one, steve. have you ever, would you ever buy any crypto? >> only when the crypto can be used as real money, which it can't be today. i see the virtue of crypto e in getting money to places like venezuela without the government interfering. but as a form of money, no. it's a speculative vehicle. they've got to make it -- it's easy to use as money. i think eventually they'll do it, but right now i'll let the party go on without me. stuart: you've ruffled a few feathers at fox, by the way, steve. young sean duffy is fit to be

tied right now. steve forbes, thanks for being with us, we appreciate it. >> thank you, stuart. stuart: i want to get back to the state of the market. we're off 130 for the dow. susan, come back, please. what are the big movers that you're watching? susan: yeah. let's start with tencent music because it's part of this big investing fund blow-up that we keep talking about, as much as $20 billion and these large mull until billion dollar -- multibillion dollar block trades which is taking advantage of the higher stock price, its largest ever capital raising. that dilutes the shares, and the stock is trading lower. baidu, another name that's being caught up, right now down some 5%. and we are in bear market territory, by the way, for some of these chinese tech names including baidu. we have boeing going in the opposite direction, the plane maker is up as southwest added

an order for another 100 737 max jets, the first 30 will be delivered next year. and this is the largest order for 73 masks since it was allowed to fly once again. and visa says it will pilot a program allowing a digital coin for transactions. largest credit card payment company in the world, and that allows for more crypto adoption. that's rallying bitcoin prices and gray scale bitcoin trust which gives ownership to over 600,000 bitcoins in their ownership. stuart got it. susan, thank you very much, indeed. now then, a new poll shows 56% of adults under 35 feel proud of the american flag. only 56%. i'll ask kayleigh mcenany about that in a moment. and president biden still will not say when he will visit the border. roll tape. >> when you might go? >> we are putting in place a plan that i feel very confident about, and i don't care what the

other guy does. stuart: the other guy being president trump. and president trump has a plan in motion to go to the border himself. we'll tell you about it in just one moment. ♪ psalm old situation -- same old situation. ♪ it's the same old, same old ball and chain ♪♪ ot the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. saving is easy when you're in good hands. allstate click or call to switch today.

stuart: got it.

♪♪ stuart: take a look at this again. a biden staffer blocking senator ted cruz from taking any video at a migrant facility. i want to bring in casey stegall in texas. casey, other senators on that same mission, were they told to delete their photos? >> reporter: sir, we're

working on trying to get that nailed down for you, you know, because it could be an instance of he said/she said. that is the claim at this point, but we should point out that even if elected officials are allowed inside these migrant processing centers and detention centers, they're supposed to leave electronic devices not in the areas where the migrants are actually being held. that's exactly what happened with the press when back in 2019 i went on a tour of one of those facilities, and it was pen and paper only. we weren't even allowed to bring our cell phones or electronic devices inside. hhs officials say that that is to protect the ooh identities -- the identities, because we're talking about children in custody. but since the media has not been given access, as you know, leaked photos and video taken by lawmakers, well, they have made the rounds. this as the feds continue searching for additional places to house the undocumented, and

charities work to try and fill in the gaps. >> ground zero pretty much right now. obviously, we have -- >> obviously we must help them, we must watch out for them because, you know, at the end of the day, they are humans. >> reporter: now, another overflow facility that we've been talking about up in dallas, that's at the convention center, well, today ted cruz will visit that location also run by fema. they help manage that site along with hhs and the orr, the office of refugee resettlement. we can also tell you that convention centers are going to be converted into overflow facilities also in san antonio, texas, and also san diego, california. stuart. stuart: those are giant facilities. i've been to them both. casey stegall, thanks very much,

indeed. >> reporter: yeah. stuart: time to bring in chad wolf, former acting dhs secretary. sir, is it possible to say to a united states senator, no, you can't film that, and if you do film it, we want the tape, we want the pictures? how is it possible to say that to a senator of the united states? >> well, i think we're seeing a number of members of congress trying to get photos of some of these facilities. these are border patrol facilities that a lot of these minors and families are being held in. and we see that occurring because, why? because dhs will not allow at the current moment press in there to provide photos. and i think the american public and certainly the media has a desire to see what conditions are like in some of these facilities. and so if they would let press in there -- and they can do that, right? so they have privacy concerns, and there's certainly covid concerns as well, but you can still set up a situation where you allow press in there where faces of minors or adults are not taken, but you can still get an idea of the conditions in

that facility. but when that doesn't occur, you're going to have members of congress doing that on their own because, again, we need to get images of these out, we need to tell the story of what's going on in these facilities. stuart: president trump is hinting possibly at going to the southern border himself. soon, i think, was the expression. what do you think about that? how would it look if the, if president trump went before president biden and vice president harris? >> well, i think it tells you a little bit of the priorities. certainly, the current president, president biden, the vice president need to be down on that border, particularly vice president harris who's now a part of trying to find a solution to the crisis on the border itself. so they certainly are need to be down there. you know, any and every week that this continues to go on, i would say. as far as president trump, former president trump being down there, obviously, the men d ann of t thede patro dander law enfmentment cers have alway alway alwayht veryhly ofhlhl the presidento so

't sur surpr me that they have askhave ahave a h him,, ceh at hat him h cimomingowgownown k aboueasureseasha het heout heldp p pla phat he he heut pla du duri hissidencydency to seece thorder. soso it doesn't surprurpr me tht they have d him to t cdown there.thth about t b a l letl he.ere. beatg into some some real perspecve i remr irrn rroperror55nnn my ofigraigntras marched across europe andpe a demandeand entryt western eupe.. the gethe s let l them i and forefover chveange europe. i think thi thathingng similar is happening in america today. an army of central americans marching to our southern border, and the southern border is open, and our society will be changed dramatically forever when they come in. am i going too far? >> i don't believe you are. i think, no doubt, we are witnessing a change here. when you have over 100,000 folks in the month of february, illegal apprehensions coming across that border -- and those

are just the ones that border patrol are picking up. we have to remember there's probably another 1,000 a day they don't catch. in march it's probably going to be higher, probably about 140,000 illegal apprehensions, and it's going to increase. absolutely, these are individuals, large portions are uacs and families, unaccompanied minors and families, that are coming in and being released here in the u.s. there is some portion being turned back, but it's not a lot. it's not an overwhelming majority at this moment. so, absolutely,ing what we saw back in 2019 when we had a crisis, we put measures in place to address that issue. today this administration is not putting in measures to address the underlying issue of the illegal activity. they are treating this as a capacity issue, building more facilities and throwing more resources at this. and it's only going to encourage and more of that illegal immigration that we see today. stuart: chad wolf, thanks for putting it into perspective. we appreciate it. sir, come again soon. thank you very much.

to the markets, let's get back there. paring the loss on the dow a little bit, is still down 100, and the nasdaq is still down about a 150. show me pfizer and moderna, or please. according to a cdc study, just windows of their vaccines is 80% effective in preventing covid infections in health care workers. effectiveness jumped to 90% two weeks after the second dose. it's effective. viacomcbs, after losing 40% of the value last week, they're down again today another 9.8% drop. 45 million shares, it was a huge, monster block trade blew that market right now. they sold at $47 a share, 45 million of them, $47 a share, and it's sunk now to $43. that's viacomcbs. extraordinary selloff right there. new video of the field ship. -- freed ship.

there it is. okay? it was freed a few hours ago. it is now free making its way down the suez canal, but remember, there are about 400 ships behind it waiting to move up and pass through the canal. so the delays in the supply of various items probably going to continue. then we have gas prices up 20% since president biden took office. some think it'll go higher still, $3 a gallon and up. we'll tell you what's going on in a moment. president biden's' expected to unveil a new spending plan this week. republicans are already calling foul. watch this. >> the motto of the biden administration is we can't spend too much. and at the rate they're going with, we're going to run out of ditches. stuart: kayleigh mcenany's got got a lot to say about the president's spending plan, and she will be along and joining me next. ♪ ♪

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but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ ♪ stuart: there's a reason for all that red ink. a big fund has blown up with

repercussions spreading out from that big fund to affect the banks and a lot of other stocks as well. the dow's down about 100 almosts, and the nasdaq's down 135. there is a big winner, however, that is boeing. and it is a dow stock. it's up nearly just over 2% adding 37 points to the dow. why is it up in a down market? because southwest airlines is going to buy 349 max gents from them over the next -- jets from them over the next ten years. that's a $10 billion order and up from there. big deal for the max jet, big deal for boeing, the stock is up. president biden, he's going to unveil his new infrastructure plan on wednesday, and look who's here to comment, former white house press secretary caylee mcif e neighborny, great -- kayleigh mcenany, great friend of the show. what do you expect to see wednesday? >> well, i think that we will see some onerous tax increases included. of course, you have senate minority leader mitch mcconnell out there saying this is a trojan horse for

increasing taxes. it's also a recipe for disaster for the economy. the fragile economy coming out of the pandemic. we've already spent, as you well know, stuart, upwards of $6 trillion in emergency relief. money of that was needed at the time, not all of it, i would argue, in the latest package. but to add into that another $3 trillion, you're asking for inflation and putting tax increases on top of that just a recipe for slowing the economy. it's not sensible at its core. stuart: we are right now on a rocket ship, this economy. we're looking at 5, 6, 7% growth in the summer, and you can't assume they're going to get all the tax increases they're talking about. so maybe the impact of what the president's going to say will be a little bit more muted than you suggest. you think? >> well, it's certainly possible because, of course, he has to win over the likes of joe manchin, kyrsten sinema if, some of the more moderate democrats, if you will. yes, the economy's on a rocket

ship, but why would you then pour water on this raging economic fire we have going with more tax increases? he's made no qualms about his interest in the raising taxes on the american people, and you even have pete buttigieg talking about taxing the number of miles people drive. it i a -- appears that might not be the case. stuart: i'm sure you watched last week's press conference, thursday, with the president. how long do you think you'll have to wait to get another press conference with the president? >> oh, i think it'll be a long time. they are very clear in their preference not to have him in this format, also not to have him in the format of a long address, like a joint address to congress which he hasn't done. they keep him as a sound bite president. i think there was a lot of pressure put on him to do that one. i venture to say it'll probably be another hundred days or at least until the media drum beat pipes up and says we need another before we'll see him in that format again.

stuart: what do you think? the problem with biden is he doesn't look robust. that's the problem, isn't it? >> i think that's a big part of the problem. i also think he tends to step in it, and he's not good when pressed on follow-up about transparency at the border. i mean, he stumbled there, gave really an answer that a made no sense saying, well, once my programs get going -- half an admission of what's going on down there cannot be seen with the lens of a camera. his tone is not robust, but also his answers are insufficient. stuart: did you have to push president trump towards the reporters, or did he just want to go there naturally? i'm thinking, i mean, the white house staff at the moment does everything in their power to keep president biden away from the media, away from the white house press corps, but you didn't have to do that, did you? i'm sure he just went out there and went right at 'em, didn't he? >> yes, yes. he never backed down from talking to those reporters be it when we were going out to marine

one, and i'd say, hey, maybe don't take questions, he relished it. he los communicating -- loved communicating to the american people. i would argue the most transparent administration in history, the amount of questions he took interagenting with the -- interacting with the press. stuart: you had to work really hard 24/7. do you miss it? >> hey, it was a lot of fun. i'm honored to be here with you, i get to spend a lot more time with my daughter, which is a huge upside. stuart: yes, it is. kayleigh mcenany, see you again soon. >> thanks, stuart. stuart: the average price for a gallon of gas in america, $2.86. by the way, that is up 20% since president biden took office. edward lawrence joins us. look, edward, prices of gasoline tend to go up in the spring and summer. how much could we be paying by memorial day? >> reporter: yeah, it could be a lot more, stu, that's what they're looking at here. i was shocked. i filled up a few days ago. just look at the numbers here

behind me. a week ago those started with a 2, now they start with a 3. so for an 87 octane, the national average, as you said, $2.86 a gallon. that's actually 41.6% more than last year, a year ago, up 6% for this, over the past month. now, the reason, a number of reasons. the ship that was stuck in the suez canal, opec decided to cut production of oil, but also the biden administration policies. just listen here to the president of the independent petroleum association of america. listen. >> it is a full court press from the administration to make it, in our view, add regulations that's going to make it harder for our members, independent producers who drill roughly 90% of the wells in the united states to continue that activity, and that's bound to have consequences for the world markets, for consumers, for the price of oil and natural gas. >> reporter: and he's

concerned about those regulations for his members in terms of drilling new oil fronts. his member -- projects, his members are also concerned about the tone that this administration is taking to go forward with new projects here. now, the transportation secretary has said that eventually electric vehicles may take some of the demand down and bring gas prices down. but as you know, that's going to take a long time. stu in. stuart: yes, it is. edward, thank you very much, indeed. show me uber, please. what's the tock doing? down to $53 per share. however, they've launched a new service in england. ashley, i know you're in florida at the moment, but tell us about the london thing. [laughter] ashley: well, it's london customers can request a fully electric car through uber, to edward lawrence's point. the uber green option in central london offers passenger fares that match, basically, those made in petrol, diesel or hybrid uber vehicles. while drivers will be charged a reduced service fee.

now, journeys in this particular scenario must begin with london's inner zone one, that's the inner city. they'll have to start there, but the destinations are unrestricted. but, you know, listen, stu, we talk about this a lot, the number of fully electric uber cars in london has increased from 100 to 1600. wow, that's a lot, right? that's still a very small percentage of the company's 45,000 london vehicles. so a long way to go yet. if you want fully electric, you have the green option in london. stuart: now, i've not been back in london in 30 years, strangely enough, but i take it they still have those wonderful old black taxis, remember those? ashley: they're very prominent, and they're still terrific. stuart: yes, they are. thanks, ash. here's a believe it or not story, krispy kreme facing backlash. why? for giving free doughnuts to

vaccinated people. you can't make this stuff up. the ship that's been blocking the suez canal for days finally free. what does that mean for us in america? we're on it. deal with it next. mug. ♪ i want to break free. ♪ i want to break free from the --

♪ finally it's happened to me, rin front of my face ♪♪ stuart: now now i know why we're playing that song. the song's name is finally, and finally the cargo ship that had been stuck in the suez canal is finally free. you got that? however, there are still 400 ships waiting to pass through the canal. they're tied up behind it. grady trimble is at a trucking company in illinois. how is the suez blockage affecting the supply chain in the midwest? >> reporter: well, europe's

going to be worse, obviously, stuart. but they are bracing for impact here in the coming weeks, maybe even months ahead because of this. i'll let mike burton with cmk trucking explain the disruptions you guys are bracing for right now. >> with the suez canal being shut down for seven days, you know, the ships will be delayed over the next two weeks. and so we expect, you know, freight to slow down for a period of time. and that hurts both our imports coming in as well as our exports going out. >> reporter: and pretty remarkable considering here we are in chicago talking about the other side of the world. some of the ships are waiting to get through the suez canal, some 400 of them. others decided to go the long way, all the way around africa which ads about a two week -- adds about a two week delay. is this going to to be like the beginning of the pandemic a year ago when shelves were bare? >> you know, if the disruption lasted another week or two, i'd say absolutely yes, but now that it's only lasted for about six

or seven days and i think while it'll take a month to clean up, i don't think we'll have impacts at the tores. >> reporter: and, stuart, just to show you, that truck pulling out right there has an evergreen container on it. obviously, this ship owned and operated by the company evergreen. so that gives you a sense of how everything is connected even though here we are in the heart half a world away. stuart: we are connected, and that's a fact. grady trimble, thanks very much, indeed. still showing quite a lot of red ink. the dow is down 70, the nasdaq's down 120. take a closer look at the airlines, please. very good numbers from the tsa screenings over the weekend. it was 1.5 million on sunday, 1.4 million on saturday. pay close attention to american though. they expect to fly most of their fleet in the coming months. their bookings for the next seven days are now at 90% of pre-pandemic levels. surprisingly, the airlines are

down today. still on travel, san diego comicon, making a comeback in the fall, but fans are not happy. you know, i was inclined to say, ashley, is this because it's going to be virtual? but there's another reason, right, they're not happy. ashley: no, it's going to be in person. we don't know how many people are going to be allowed, but this is the issue, social media lining up for criticism because thanksgiving is when they're going to hold it, and critics say what a terrible time to hold this popular comic-con in san diego. many ask why would they schedule it on the first chance most families will have to celebrate together in two years? others said when it also comes to the time of peak airfare prices, that's not good either, and others question how many celebrities would show up. comic-con organizers say the in-person event will generate

much-needed revenue. that it didn't explain why they picked thanksgiving as the time to hold it, but they say it's much-needed revenue for many small businesses connected to the convention. hey, it's on, and you can actually go, but the bad news is it's over thanksgiving, so you may not want to go. stuart: you know who's going to go? i saw the pictures of those folks, i was going to go, but i can't go on thanksgiving. i can't do that, you knowment. ashley: i know you were. stuart9 -- stuart: thanks, ash. many in the media jumped to conclusions following those shootingings in atlanta and boulder. major companies under pressure to speak out against georgia's new voter law. we'll tell you about some proposed boycotts. coming up next. ♪ ♪ ♪ ♪ (upbeat music)

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stuart: now to deal with the deadly shootings in atlanta and boulder. i want to bring in heather mac donald, favorite guess on this program. heather, how did the media cover those shootingsings, and what do you have to say about their coverage? >> stuart the, it was absolutely an astound thing example of

media bias and deconstruction in plain view of a known lie about the shootings. the media immediately jumped on the narrative that they that the product of -- that they were the product of white supremacy, the biggest threat facing america. that lie had to be quickly retired in the case of boulder when we learned that the shooter was a syrian-american who had posted about so-called islamophobia industry. but in the case of atlanta, the lie that those shootings arose out of trump-inspired xenophobic hatred for asians because of the coronavirus pandemic has legs. it's till getting -- still getting circulated on a daily basis in the mainstream media. it is completely false. there is zero evidence for it. the atlanta shootings were tragic, but they were motivated by a young man's sexual torment and guilt for his sexual longingsings. they had nothing to do with

coronavirus-inspired hatred for asians. the man was on his way to a porn business in florida to commit more shootings that would have had no asian victims presumably whatsoever. nevertheless, in the face of blatant contradictory evidence, we've had both biden and harris taking up their usual theme about the hatred of whites for the rest of america, the mainstream media's pushing this. we have the daily protests by asians saying i am not a virus. here's what has been going on, stuart. there has been a series of very gruesome, brutal and sadistic attacks on elderly asian senior citizens. they have been committed overwhelmingly by blacks. in new york city, a black new yorker is over six times more likely to commit a hate crime against an asian as a white person is. i go into the details of some of

these in a recent article of mine. they are heart-wren. ing, but that is not what's being acknowledged in the media. we keep hearing about racism against asians with the implication that we're talking about whites. stuart: heather mac donald, no wonder you're a favorite guest on this program. you speak the truth all the time. we like that. come back and see us again soon when i've got a little bit more time. thanks, heather. of. major corporations facing boycott calls for not speaking out against georgia's new voting law. talk about convoluted logic, for heavens sake. ash, which corporations are we talking about? ashley: of course one of the most famous based in atlanta is coca-cola, we have after lack, we have delta, home depot, southern company and ups, all of them under, basically, economic pressure to speak out against this new voting law in georgia.

but it's not just the big companies. movie directors also jumping onboard with some saying they will not film in georgia while this law is in place. and as you know, the movie industry shoots a lot in georgia because of the tax benefits. and there are other critics now calling on major league baseball to move the league's all-star game out of atlanta where it is scheduled to take place this summer. you can feel this whole thing snowballing, and it will go in a million different directions. these people are under pressure, the companies certainly, to speak out against this law. stuart: and i'll be intrigued to see what happens with the masters in augusta, georgia -- ashley: yes. stuart: -- and the sponsors of that brilliant golf tournament. one more for you, ash. show me amazon's stock. there you've got it up very, very slightly. the amazon union vote ends today. outline for us, what's at take here, ash? ashley: well, at stake is if they vote to become unionizedded, there could be a tom knowfect and could spread

to -- domino effect, so it's being called one of the most consequential union elections in recent history. the vote counting officially ends today for the 5,800 workers in bessimer, alabama. that's where this is going on. it is the first union election -- i think back to a small one back in 2014 for amazon. the country's second largest private employer, amazon is, with 800,000 workers. the union push i drawing some big name endorsements including president biden, republican senator marco rubio, bernie sanders, of course, in the middle of all of this. federal labor authorities will begin tallying the votes tomorrow, but as connell mcshane reported earlier, it could take days before we know the outcome, and regardless, am amazon or the union are expected to pursue legal challenges. so this could drag on to. amazon says, look, we're offering without unionization everything that the union is wanting. stuart: okay. we'll have to wait, i guess.

ash, thanks very much, indeed. quick check of the big board shows a small loss, down to 50 points. more "varney" after this. ♪ i can never get enough of everybody --th get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events . .

i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis. and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm.

tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. stuart: krispy kreme facing backlash. why? , for giving out free doughnuts to vaccinated customers. critics on social media of course claim it is unhealthy incentive for getting the jab

the ceo responds thus. we're a sweet treat company. if folks don't want to visit our doughnut shop they don't have to. that is plain old common sense. i love that. markets still showing a lot of red. not as much as we were a few minutes ago but but nonetheless we're down this. jackie deangelis in for neil. jackie: thank you, stuart. i'm jackie deangelis in for neil cavuto this. is "coast to coast." we highlight sectors that could be hit the hardest comings up. then to washington where the white house is on its way to biggest expansion of the federal government in a generation. we're going to break down how the biden administration push for infrastructure