maria: great to see you, have a wonderful wednesday. that will do it for us. "varney and company" begins right now. stuart: good morning everyone. the morning after the guilty verdict. here's the state of play. in some cities celebrations. in new york city black lives matter activists harassed white people. in columbus, ohio, just as the verdicts being read, police shot a teenage girl wielding a knife was a body video, protests began immediately. and the house of representatives a vote on

censoring maxine waters for her incendiary comments about the chauvin trial. the motion was defeated. not a single democrat voted for censure. big business taking political size. apple's tim cook tweeting justice for black people requires radical change in the structure of society. aoc says it is not justice and the system is not working. my opinion the chauvin's trial showed the justice system did work but the threat of urban riots remains in place and that is not good. thursday april 21st, 2021, "varney and company" is about to begin. ♪♪ stuart: we are up and ready to go. other headlines we are watching today.

the governor of arizona will send 250 national guard troops to the us-mexico border just as he declared a state of emergency in six border counties. displayed unemployment falling america's poverty rate reached the highest level since the pandemic began with black poverty close to double the overall rate and child poverty soaring. the plan for the european super league is on the brink of collapse, 12 europe's wealthiest soccer team signed up as founding members of this new leak but prime minister boris johnson has promised to, quote, thwart the soccer cartel. his words. check in with money. where are we now? i see red ink. not that but it follows some losses earlier in the week, dow is up 50, nasdaq down 38 even though the yield on the 10 year treasury is 155, nasdaq still

not doing well. shaw gilani joined me now, are you back to being a raging bull? >> yes, back to being a raging bull with asterisks. i saw the rising interest rates would continue. there's a lot of leverage companies and i thought rising interest rates would cause a big deal in terms of adjusting in terms of equities but that has not subsided with the tenure going from 179 to a yield of 155, that seems to have passed. the federal reserve doing what they need to do to keep rates low. that seems to pass. as far as i am concerned it is clear for stocks. we will see dust ups like this but not the cyclicals people got into because of the reopening, trade, a lot of those cycles look a little bit

touchy and that has the market nervous. i think if we get any real selloff it is a buying opportunity. stuart: an absolute buying opportunity, back to buying on the dips. hold on a second. i've got to address another subject, dogcoin. the price is crashing. i think i use that word accurately. susan is with me. susan knows my feelings about dogcoin, did a crash because the hype about tuesday going to one dollar coin failed? >> 22% down is a crash, definitely a bear market. it went down instead of up so maybe that indicates the might be fading on his crypto currency. we are down 20%, that is a long

way up from that one penny or less that started the year and dogecoin is the most popular crypto currency going through several trading platform so people are piling in. it is up 8000% on the year, stuart is shaking his head, can't believe people are buying into this. stuart: 30, 40 to 21, what is it? >> it is more than a penny or so. so you made $0.30. that is a lot. another asset class made you 1000% part of this year. stuart: you want to settle this argument? i say dogecoin is a gambling chip. what say you? >> that is what it is with a speculative instrument, keep going, make sure you keep your profits because at some point it will crash.

it is a fake coin that came out as a joke and has simply run away so that is a lot of fun but not serious, there is no utility in it, not a transactional means, there is no store value to it. it is a joke. as far as a speculative instrument have fun with it. that is it. stuart: would you extended to bitcoin which is 55 grand? >> it has greater utility and the prospects of utility and being picked up as it has been by institutions and money managers and fidelity and folks trading at it is not in the same category as dogecoin but the ultimate utility, the transaction costs of transacting and it is high. stuart: thanks very much, just dealing with susan who wanted to jump in. >> bitcoin is more centralized. there's only going to be 21

million bitcoin's and the reason people buy crypto currency is they don't want government to control policy. they don't want a small cartel of people dominating the value of the asset. stuart: i will leave it there. you are crypto susan lee and shaw gilani, you are not. see you again soon. glad to hear you are back to the bullet stand. cryptos and dogecoins get serious was netflix is down 46 bucks. i guess they didn't hit the magic number on subscriber growth. >> 4 million subscribers in the first quarter this year is 30% less than their own guidance or wall street forecasts and only predicting 1 million subscribers in the springtime. when have you heard 1 million new subscriber ads. i haven't heard that in a long

time, a third of what people anticipated the next 3 months and netflix is blaming covid meaning during the lockdown, subscribers sign up because what do you do? you are going to stream netflix but membership growth will react celebrate in the back half of the year with more tv sequels or series coming out, hopefully my favorite, stranger things, will be there but there is a bit of a catch taking place. it was down 60 bucks in a matter of minutes. we were trading at 480, haven't seen that in some time. stuart: the next thing i will look for is how many subscribers withdrew their subscription now that the pandemic is over. >> once you sign up for netflix, so much content, and

and. and i we weren't expecting anything. >> that you would care about, the air tags. i know you have a great memory. put them on your keys, you can't find your keys or your devices these air tags will help you map out precision tracking on where those keys are. they are collating 1 billion iphones to find your keys. $29, that was the first new introduction but also these

colorful new imacs, tons of storage, the fast chip, and a new apple tv 4 k with remote control, this indicates apple thinks the remote work is here to stay. they had one of the best years in a decade with remote schooling and that meant a surge in scales. look at the breakdown, the majority of apple sales, the catch up is taking place in the ipads, wearable services accounting for a bulk of the sales. one important point that is important for me to make. if it goes to the george floyd case would you say smart phones have proven they've changed the world because of justice or equality? stuart: don't know as it applies to the george floyd case.

that is a planetary game changer. >> that was shown over and over again. but as a smart phone to show that. stuart: the tape changed the dynamic of the case in the video was available to absolutely everybody. that was a big -- you are right on that. investors, not impressed with the new stuff that came from apple, you were, they weren't. >> a tough day yesterday across all technology but apple reporting next week along with google, big tech rolling out, how they are performing in the first few months is your. stuart: a lot to look forward to. looking forward to opening the market not so positive, some

red ink. we told you at the top of the show alexandria ocasio cortez thinks the chauvin verdict is not justice. >> justice is george floyd going home tonight to be with his family. >> not sure i understand. what would be justice? a push to defund the police as rashida tlaib wants? what is justice? what is progress? not a single democrat called out maxine waters for her incitement comments but can button did and he is joining me next. ♪♪

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>> we've got to fight for justice. the verdict will say guilty guilty guilty. if we don't we cannot go away. we've got to stay on the street and get more active and more confrontational. stuart: there is the video again, the confrontation video. republican from colorado joins us now. kevin mccarthy brought a motion to censure waters and not a single democrat voted in favor of censuring her. you got a strong opinion on this. >> it was a fair motion to censure, had to do with a repeated history of statements like that from maxine waters. she has gone over the line continuously and incited riots.

i believe incited violence. people can read between the lines and understand what she is saying and she keeps doing it and she doesn't right outside the courtroom at a time when it is very tense and even the judge had something to say about what she did. stuart: the judge should have sequestered the jury and they would not have had to listen to this kind of thing going on outside the courtroom but that's another story. i want to move on to something current. apple giving parlor the green light to get back on the apps store next week. you say it is time for google and amazon to do the same but can you make that happen? >> all we can do is shine a light on the misdeeds of these companies and get them to move in the right direction. i was happy to work with senator mike lee and sent a letter to tim cook from apple

and abbott happy that apple moved in the right direction. amazon and others, facebook and others, twitter, will follow suit and make sure parlor can participate in the marketplace. stuart: i have a thing about social media, big corporations, the media pushing us towards a single point of view that is acceptable, like we are in an intellectual straitjacket. do you feel that? >> i absolutely feel it. the censoring that is going on is wrong, what is happening in america, for decades we were concerned about the government censoring speech, now we are concerned about big corporations doing it. absolutely believe the answer to this is antitrust laws, we need 5 googles and 10 facebooks so we have the opportunity to have our voices heard and to hear from others. stuart: the unanswered question, why wasn't maxine

waters's confrontation statement band on facebook and twitter? it was aggressive, it was incitement, why wasn't it banned? >> they are not fair. obviously. they treat conservatives different leave and they treat liberals and they have discriminated against conservative speech for quite a few years. stuart: thanks for being on the show addressing difficult subjects which we appreciate from you, come back soon. apple and google executives will testify before the senate judiciary committee this morning, this is about competition in apps stores. >> you are not going to hear from tim cook, it will be more the senior vice president level and not just apple and google but spotify and executives in attendance as well. those companies will be arguing apple charge too much, 30% in apps purchases in the rules for

inclusion are very strict on these apps stores but i would argue, you might agree, i don't know. when you build a successful product and a platform what can you charge whatever people charge in standard fees and why can't you decide what happens on a platform you build? stuart: the answer is a joy almost monopoly power so competition doesn't bring those fees down. >> you weren't there to build the apple ecosystem. is it their fault? stuart: what does the size of their apps store and its power keep competition out? >> there are alternatives. you can go on the google play store or elsewhere. stuart: one of these days we will find where there is commonality between us. i long for that day. here's one for you.

amazon is bringing palm scanning, a device that is going to be used in whole foods stores. you are raising privacy concerns. i go to a whole foods store, they scan my calm and i am in. what is the privacy concern? >> do you want a giant tech company storing your biometrics? stuart: my palm. >> what can they do that, your fingerprints. >> what can they know? >> they know it is stuart varney, that is what they know. isn't that enough, the fact that they can identify you and where does the data goes? stuart: my drivers license -- >> what about facial scanning? do you want them to have that? fatal id to pay for your whole foods and tomatoes? stuart: in order to pay for something i should not give them my biometrics. but will they use those biometrics to make money out of the? >> exactly right but you have to give in order to get. what you're getting is convenience and this is part of

amazon one program which rolled out in september but this is the first whole foods where you can use your biometrics can, to go to a kiosk, upload your credit card, scan your palm and you're ready to go but you have to go to a check out in scan out the items, not like an online store where you walk out, they will come after you. stuart: i promise not to do that. let's agree on the future of the stock market as of this morning. we are going down on "the opening bell" but not that much. president biden getting ready to unveil his spending plan, more spending, we will tackle it next. ♪♪ e. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones.

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stuart: just joining us with 3 minutes before the market opens a little bit of red ink when the market opens a couple minutes from now. dan geltrude is with us. i know you have a problem with people not going back to work because they are paying the money to stay home and not work. what is your solution? >> the solution is very simple,

let's open up the economy and allow people to go back to work. what is happening is we have the federal government competing with specifically small businesses for employees because the government is simply paying people too much money to stay home. stuart: it is not going away. they are going to pay these payments until the middle of september and now they are preparing the trillion dollar families plan, that is more spending. opening up the economies not the solution, what is the solution? >> the real answer is we have to stop spending and the reason we keep spending is simple. what has been the consequences of us spending this way? we are at $30 trillion and counting of national debt but

if not for the pandemic the economy was booming, everything was coming along fine, no one is feeling the pain especially those in washington dc. joe biden says this spending package, really popular. that is only encouraging more spending. stuart: your solution is political. got to get the republicans to reject all this extra spending and bring us back to reality. it is politics. >> the solution is truly we have to start demanding the truth. when you call the spending spree the american families plan, those names sound very appealing. the truth is it should be called spend us into oblivion plan, stuart: it is at montclair

state in new jersey, hope you have a job ready when you get back from this interview. that kind of thing goes down willing universities today, we wish you well, dan, articulate guy. the bill is ringing. we see some red ink when you open it up. wednesday morning, april 21st, last time i checked all day, not much not much. 33,00790, that is where we are, 6.only, nasdaq composite also on the downside by a quarter a 12:45%. i will show you big tech. bear in mind the yield on the 10 year treasury is around one.55%. normally when it comes to that level the nasdaq and big tech does well, not this morning.

only microsoft going up. take a look at bitcoin, up $1,100 to 55,000 as we speak. the important point is jpmorgan has issued a warning about bitcoin and crypto susan will tell us what the warning is. >> if you don't get above 50,$000 soon momentum signals will collapse, the 61,000 level from here. better get above it. crypto currency is very popular, bitcoin is up 90%, maybe not 8000% like dogecoin but a lot of money still around. stuart: american airlines, i really like the sound of this one. making an announcement today on international travel, i want to travel to see my sins.

what have you got? >> back, pilots, they are hiring for the first time since the pandemic. american, united, jetblue, spirit, they bled 300 pilots double that number next year but i need to caution you. we show you united in history, 9% at one point, they are losing a ton of money. stuart: back to $19 a share, below 20 as of right now. show me norwegian cruise lines, goldman sachs, just upgraded them, they used to be neutral, goldman sachs norwegian is the best positions cruise operator. $26 a share. microsoft discord, a chat startup has ended talks with

microsoft. why did they turn down $12 billion? >> the discord is the videogame chat apps, they added a lot of users last year, you would say yes to $12 billion, think what you have to give away, would you give away control of your company looking at frothy ipo markets and people doubling on day one, that is what discord is doing, planning for a long-term ipo, and also turned down twitter offering 12 to $18 billion, amazon.com held talks with discord and other technology companies, the momentum while you can. to be a catalyst, positive

catalyst, that is the reason it is up today. stuart: in the unlikely event that stuart varney ever invents or creates a new technology company i would take 12 billion in microsoft. >> like instagram from facebook -- stuart: what do i know about instagram. the dow winners on your screens headed by united health, those are dow stocks, the s&p 500 biggest winners, intuitive surgical, dig into that, nice gainers on the s&p and as to the nasdaq some winners there, none of the big names on that list except for lulu lemon just made it. csx is up one%. what is the story? >> they outperformed this morning by bm oh capital with $110 and could get another 10% and railroads are hot, talking

about the kansas southern bidding war, the reopening economy, railroads like banks or proxys, economic growth. stuart: carry oil as opposed to pipelines. getting onto roku. >> down from the 3%. there are positives because roku is rolling out the roku brand of content showing it streams different services that they have but roku has benefited a lot during covid. the stock has tripled but rolling out their own brand of content, that might be something to watch. >> bring us up to speed, it is 7.5% lower.

>> upgraded to a by, that was interesting because most people were disappointed with subscriber numbers saying there's react celebration in the back half of this year with more content and more sequels coming out. stuart: procter & gamble came out with earnings that might raise prices in september, they dominate the grocery store where i shop. >> city has downgraded procter & gamble because of choppy months ahead, they are raising prices, the city is downgrading it calling it, don't call it more, you don't need to so there is still some upside. stuart: that me check the indicators starting with the yield on the 10 year treasury, one.56% up a little this morning, 156 significantly below the benchmark, 160.

it is 1786, your price. one dollar and $0.27, gas moving a fraction higher to 288 your national average. you back exactly one year and the price of gasoline, the average, and now it is 288. a new op-ed which begins woke corporate america. we witnessed a big shift from the media, look at the coverage of donald trump compared to coverage of president biden. >> the least racist person, because you say it doesn't make it so. >> efforts to root out racism in many forms this hour.

stuart: there is a lot more rare that came from and if that didn't convince you we have the number to prove how much the media favors president biden. governor mike huckabee will sound off on it next. ♪♪ we got to go for all we know ♪♪ just the two of us ♪♪ we can make it if we try ♪♪ just the two of us ♪♪ just the two of us

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♪♪ let the good times roll ♪♪ come say it ♪♪ stuart: sam cooke. i remember him, try to remain -- remember another song but doesn't come to mind. what a wonderful world, the producer told me that. statue of liberty, glorious site in new york. those markets kind of mixed, not that much movement but the dow is in the green up 47

points, 43,800. now look at those heavily shorted stocks favored by the redit crowd. retail investors, the redit crowd. are they still going strong? >> last week we saw outflows for the first time since mid-february, $5.2 billion, people taking out there money and some people said retail investors, second homes with their stimulus checks were not that interested in the stock market anymore. not true according to bank of america. the institutional funds etc. bank of america says the individual investors are still in it. it is the largest outflow of cash in the stock market since november the fifth largest in history. stuart: the implication the big

guys are out. is that the implication? >> they made their gains for the year. selling mac away, the institutionals looking at a process and have it once again. i will point out most individual investors in the single stock, that volume has gone down so doesn't add much interest on the retail graham but they are still in it where institutions are pulling their money. stuart: thank you. ap reports the justice department getting ready to probe policing practices in minneapolis. derek chauvin was found guilty of all charges, many on the left not calling it justice. listen to aoc. >> it is not justice because

justice is george floyd going home tonight to be with his family. frankly i don't think we call it full accountability. stuart: governor mike huckabee is with us now. what do you say to anyone who says that is not justice? >> these people will never he satisfied. it was a horrible thing, we readily admit that and i don't know anyone who is disappointed in the verdict, we saw the video, it was painful to watch. this whole episode has been horrible but ultimately this was not about white versus black, it was about right versus wrong. derek chauvin will probably spend the rest of his life in prison. that is what justice is about. you can't undo what has been done but you can try to bring some level of retribution for people who do the wrong thing. don't know what the left wants. the ones that went out in the

streets, still chanting and yelling despite the verdict, you are thinking will anything satisfy? the truth is no, nothing will ever satisfy them except the destruction of america. stuart: i am jumping in. in other words the threat of an urban riot is still there. of a jury decision or any event occurs that goes the way the mob doesn't wanted to go the threat of a right is still there. that is still intimidation. we've not moved on from that. >> we have not. there are two motivators for what is happening in our urban areas, one is that some people just want to destroy america because they truly hate this country, they are marxist, revolutionaries, there are people who want a free flatscreen tv and when a riot is going on they know they have a chance to run in, grab a flat screen, take it home and didn't pay anything for it. it is all anarchy, lack of

understanding that in a civilized society civil people act like civilized people. when you don't have that you have total destruction of a culture, a society and a civilization. stuart: i want to talk to you about something we have mentioned frequently in the past. the coverage of donald trump during his first year in office, 89% negative compared to president biden's early term of office which was 59% positive coverage. we will go through this. >> we will dive into donald trump's history of racially insensitive statements. >> biden efforts to root out racism in many forms before we start this hour. >> at the core is donald trump's unpresidential behavior. >> i cannot imagine someone more emotionally suited this moment than so biden. >> over the past few years we have seen donald trump cozy up to world dictators --

>> biden pressed vladimir putin and it is not about mutual feelings and cooperation. a hostile takeover of the republican party. >> what a great love story between joe biden and jill biden. stuart: let's get this right. that is not going to change, is it? >> it isn't. it is no longer journalism. it is advocacy. i'm grateful for the media research center. we owe them a debt of gratitude. they have the audacity to sit down and watch the step which is more than most of us could do without going crazy and analyze it second by second, minute by minute and give us an analysis. 59% coverage of biden is positive but even more important, 6% of that which is negative is from the left, they don't think he is far enough to the left. you have to put that in the

context as well as what you get is the media has become a very loud, turn it up to 11 to borrow a scene from spinal tap, turn it to 11 because that is what they will give us, extreme left-wing drivel and we no longer have news coverage, we have advocacy. a destructive tool in the hands of the media. stuart: always a pleasure, don't be a stranger, come back soon. now this. this is mild. it is inflammatory, from chelsea handler, suggesting cops are being given extra incentive for every person of color, where is the media outrage for that? martha maccallum will join us shortly. she's in the 11:00 hour. governor doocy of arizona not waiting for the administration to take action on the border in

deploying the state national guard troops to the border. the situation is just as bad if not worse than the coverage we have been seeing. a live report from the border next. ♪♪ for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪

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cartels are using social media to recruit teens into the smuggling operations. aishah hasnie has the story. >> reporter: this is a terrifying look at how far the cartels reach in america. we are learning this is the rio grande behind me. across the river, part of young americans, 18 to 25-year-olds, waiting to smuggle them across the us, fox explained these images, the ads of the cartels are using on social media like to talk to target teenage americans to do their dirty

work and some of them read need to or 3 drivers to go through a checkpoint or 6 migrants left already across. they are offering $1,000. stuart: terribly sorry but i guess we have a wind problem. you are getting all kinds of interference from the wind blowing on the border in texas so instead i tell you what is going on in the markets. dell industrials up 109 points, minor loss for the nasdaq, small game for the s&p but we are beginning to turn around on this market after several days of losses. we are 33-9 for the dow industrials, we have shaw gilani saying to buy the dip. >> continuing the treasury yields. we have room to run.

>> it is above 160. >> not a whole lot. stuart: 156 and even so, you don't have a significant move up for the nasdaq. i would have thought you would get a nasdaq gain. >> better than a 300 point drop. stuart: it is true. hundred up for the dow as we speak. we try to get back to the border when the wind subsides. florida senator rick scott, bret baer, martha maccallum, kennedy, plus the chauvin trial might be over but the consequences are not. i will tell you about the ugly reality that our legal system now faces. one word for you. intimidation. that is next.

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smote. stuart: yeah, i'm pretty excited too. good morning, 10:00 eastern time, straight to the markets. not that much excitement on the market although things have turned around a bit. we're up 140 on the dow. getting close to 34,000 for the dow industrials. nasdaq now turning positive up 13 points. netflix however, i got to call that the stock of the day still

sliding. disappointing new subscribers numbers. that is the reason for this. it is down 38 bucks, 7%. yield on 10-year treasury up a little bit, 1.56%. that is what we've got. despite the slight upside move, the nasdaq is also beginning to move up just a little. now this. intimidation, that is the ugly reality that our legal system faces in the wake of the chauvin trial when the guilty verdicts were announced there was relief. our cities all boarded up might not burn after all. the threatened rye "might not happen. guilty on all counts may placate the mob. this is not good. the threat of and urban riot is still there. if a court verdict goes the wrong way, the rioters will be back on the street. you heard the expression, no

justice, no peace, that is a threat. if you don't deliver justice, that means the right verdict, there will be no peace. that means there will be a riot. throughout the trial there was violent unrest, very close to the courtroom. the jury was not sequestered. they must have have heard what was going on. that is intimidation. maxine water in minneapolis demanded confrontation. that is intimidation. the president publicly asked for a guilty verdict. he said it after the jury had been sequestered, i got that for its deliberations, we understand that. but when the president uses his very public position to weigh in there is a degree of intimidation. so now what? just as the chauvin verdict was announced, police in columbus, ohio, shot a teenage girl wielding a knife. police immediately released the video and demonstrators hit the streets, demanding justice. so now, all police action will be subject to body camp

judgment. he. who will deliver justice to police officers doing an extremely difficult job in violent circumstances. they will be subject to intimidation. the threat of a riot will always be there and that is not good. the second hour of "varney & company" begins right now. ♪. liz peek joins us this wednesday morning. liz, what do you think? >> stuart, i think you raise excellent points. there are real risks to what we've seen in this trial but first certainly is that the takeaway will be not that justice was served but that justice was swayed, swayed by the mob, swayed by politicians weighing in et cetera. that is never a good thing because this trial is not over.

we'll have a sentencing decision. other trials will come up involving police shootings. we don't know what the outcomes will be but we know that the mob, as you call it will now be in the streets demanding a certain outcome. that is not justice. i think also there is a risk that cops now will think twice before weighing in, wading into an encounter like the one you talked about in ohio. there are actually people on the internet now saying it is okay for teens to go after each other with knives. that is part of growing up. why should the cops get involved? that is such a scary thought to me. i can't even get my head around it, stuart. i think the third thing that bothers me is that this trial, this out come will embolden the media to continue a false narrative. the false narrative is, that cops are on a witch-hunt to kill black, unarmed civilians for no reason whatsoever. that the numbers are just staggering. we know that this is false

because the number in 19, 2019 is exactly 19 people. black men shot unarmed people by the cops but we also know it because there is a poll out that shows that most liberal activists think that there are thousands of people being killed by police, black people killed by police for no reason whatsoever. this is a damaging thing for our country. there is a lot of honest reporting about police. democrats don't care this is a wedge issue for them. they will continue on with it. they ignored senator scott's proposal for police reforms which really goes to show they don't really want police reform, particularly if it comes from a republican. and of course day by day, week by week, they ignore blatt killings in chicago which are in the hundreds every year. so i think there is just a lot

of dishonesty here but you know, tragically, it could have serious out comes. stuart: liz peak, always a pleasure, always incisive. >> thanks, stuart. stuart: change the subject completely. let's talk economics, talk povertity. despite, despite unemployment falling, america's poverty rate just reached we are told, just reached the highest level since the pandemic began. john lonski is with us. i'm not sure i get this. we've been throwing money around all over the place recently. is this a problem with defining poverty? is that the problem here? >> well i suppose might be. you know, we're, right now, we're going through a time of some uncertainty and there are again, people are using data, what not for political purposes. so, this doesn't come as a total surprise to me.

stuart: is it real? we've been told constantly poverty is constant? no matter what we do we can't get rid of poverty. i tend, i'm not sure how you define poverty? who is poor? >> the problem with the poverty rate, quite simply the one sector that suffered most from covid-19 recession were those lower paid workers from leisure and hospitality. from restaurants, from hotels and the like. quite frankly they still have an unemployment rate in march, 13.2%. that is more than double the over all unemployment rate of 6%. so for the most part worsened incidents of poverty is the consequence of a covid-19 recession and perhaps little else. stuart: surely this rocket ship economy we now have will take care of this, won't it? >> it will help over time especially as you reopen restaurants and reopen hotels.

people begin to travel again. that is going to lower the unemployment rate for that hard-hit category. stuart: talk inflation for a moment. we heard yesterday that proctor & gamble may be, may be raising prices come september of this year. does that mean that inflation is now already built in to this booming economy, input prices already going up. you already see the basics of inflation? is that accurate? >> you're so right, stuart. i think over the near term, you're going to see the year-over-year rate of cpi inflation take off. that should exceed 3%. however the market is still convinced that a year from now that annual rate of cpi inflation will be under 3%. this is as you noted commodity cost driven price inflation. some of these numbers rin credible. the latest year-over-year increase for the price of steel as mentioned in "the wall street journal" on a daily basis that is up steel is

up, steel is up 180%. that is nothing. lumber futures contracts, if you're going to buy housing, new home, you will notice this. that is up 280%. copper, up by merely 80%. when you're looking at those very extreme commodity cost increases you've got to expect at least a near term increase by cpi inflation. the question is, whether or not wages will begin to grow rapidly enough so as to sustain a further rise by price inflation going into 2022. right now the consensus says that is not going to be the case. stuart: got it. john lonski, thank you very much indeed, sir. appreciate it. >> thank you. stuart: norwegian cruise line, goldman says it is the best positioned cruise line. >> $37. stuart: up 6% this morning. we're actually looking at netflix down $42. you've been looking at this, susan. what have you got?

susan: netflix is getting hammered today after way less than subscribers anticipated in the first three months of this year. covid meant a pull forward for subscribers stuck at home, streaming netflix. they were signing up for the service but they do say things will recover in the back half of this year. i want to show you moderna as well. the covid maker, vaccine maker rallying after it struck a new vaccine supply deal for israel next year, 2022, options to buy doses of vaccine to for different variants. stuart: that is interesting. susan: verizon more earnings, more money, more sales. 5g is ramping up. still losing 178 mobile subscribers. competition is tough. they are spending a lot on 5g. well built maker of professional food service equipment agreed to be bought. transaction, worth $4 billion. the type of takeovers the

acquiree usual lip get as big premium as you can see. stuart: unlike discord. we'll take the money. susan: they're not getting 12 billion. stuart: what have we got on lululemon? the stock is up 2%. wait a minute. wait a minute. the prompter tells me they're starting a new program about used clothing. >> would love to hear your thoughts. stuart: used yoga pants? good lord. susan: resold lightly worn spandex. lightly worn it is a trade program. stuart: but will it have hoyles in it. susan: i am dying to hear what you say of the lululemon giving out gift cards for lightly worn pieces of clothing. like new resale program that will role out in texas and california first in may. online the month of june. other retailers like macy's, gap, patagonia saying they're starting this resale program as

well. might be key starting to sell refurbishing sneakers this month. you're thinking why would anyone buy used clothing. my concern about lulu lemon, has someone sweated, even put back in the wash i have problems. lulu little mon as a stock underperforming this year. it is down about 9%. up 50% over the last year. but if you think about levi strauss up some, jeans makers up 50%. there is this article say you have to buy the right type of clothing retailer in this environment. stuart: did you have a question for me? susan: what do you think of resale clothing, spandex and lycra in particular? stuart: if people buy it you will sell it, make a profit. i have no problem whatsoever. you wouldn't buy used yoga pants, would you? susan: no i wouldn't. stuart: thank you very much. susan: i have problems with sweat. stuart: thank you. we'll turn to something a little more serious, susan, so tense up. you see this? a crowd of "black lives matter" protesters heckling diners in new york city.

>> [bleep] out of york. we don't want you here. >> we don't want you here. >> we don't want you here. >> we don't want you hire. >> we don't want your [bleep] imagine i. stuart: we have the full story, i mommies you coming up. jersey city delaying in-person learning until september. the mayor is fuming about that. he blames school leadership. so why doesn't he fire them. the mayor is on the show. i will ask him. florida senator rick scott says woke corporate america will soon have a day of reckoning. how about that? the question is when and how? i will ask him. ♪. ♪♪

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♪. stuart: look at this. put it on the screen. who is singing that that? the temptations. i knew i knew that sound. that is my generation. that is atlanta this wednesday morning. by the way you're looking at headquarters of home depot. they're located there. there are calls to boycott. the stock is up. the georgia vote, home depot not saying much about it. susan: comes from black religious leaders in the state of georgia. they represent thousands of churchs in the state. they are a powerful block. they say consumers should

boycott home depot but they abdicated their responsibility as a good corporate citizen not pushing back boycotts are not easy to. democrats won't join them. who do you think it hurt in thes end? do you think it hurts coca-cola and home depot? no hurts people trying to work and put a roof overs their head. stuart: i will go out and spend serious money. i absolutely disagree with what the protesters are suggesting. >> are you not allowed to have your own independent path like home depot? stuart: why should anybody, why should pa ceo or any company forced into making a political decision. if you don't go with our politics i will boycott you i have no time for that whatsoever. susan: we agree. stuart: i have a headline for you. better read it. dear woke corporate america. beware of the backlash that is coming.

who wrote that, senator rick scott, republican senator from the great state of florida. when's the backlash coming and what is this backlash, senator? >> first off i did a letter, published on fox business to these woke ceos, sit there and want to lie to us and want to tell us how to lead our lives, tell us how they are so smarter than we are, it is a complete lie. so what is going to happen is, we're going to have elections in 22. we'll elect republicans across the country. when the woke ceo's come to us, oh gosh, i lost some money we'll bail you out. that won't happen. no more corporate welfare. woke ceo's, delta as an example, they complain about the election law in georgia which was a complete lie what they said but they fly to beijing and they will not ever criticize anything the communist party does. coca-cola, they're selling a lot of coke over in communist china. they're not going to complain about their election laws.

boy, georgia, man, you got to really look at that closely. major league baseball, they're the worst. they did a baseball game in a stadium of havana, taken at gunpoint by the castro regime. okay to play a baseball game there, not criticize any atrocities going on over there. gosh, not play a baseball game in atlanta. who gets hurt? senator warnock complains, who got hit these citizens. black churches complaining, who will get hurt? their constituents. they will lose their jobs. not get paid because people, you know, like major league baseball moving the game. so there is day of reckoning. you can't keep talking down to all of the rest of us. you are almighty. you know the right thing to do. no, we'll stand up, vote what we believe. we believe in election security. we believe in voter i.d. we don't want people to harvest ballots. all americans want that by the

way. not just a few. but these ceo's are just, they're just part of the woke left crowd. that is it what they are. stuart: thank you for writing that editorial on foxbusiness.com, mr. senator. it was good stuff. now then, governor of florida, ron desantis, he says some of the covid restrictions that were recommended by dr. fauci weren't really all that effective. listen to this for a second. roll it. >> i think that it took me a few weeks, march into april to get enough data to say, okay you know, we're not doing fauci. we're going to make sure our state open. some of the restrictions we did i think were ineffective. stuart: senator, do you agree with that? >> absolutely. thank god florida is open for business. our schools are open. and fauci is not running the state. right now the cdc says, the cdc is okay that you go to a hotel, go to an amusement park, get on an airline but you can't have a cruise line open. so they still are not allowing the cruise industry which is

over 400,000 jobs in this country, they still will not let them operate in this country. now they're operating in europe. they're operating, you know, plenty of places overseas but in america the cdc says nope, you can't operate at all. how does that make any sense? stuart: i've got a third subject for you, the governor of arizona is sending national guard troops. arizona national guard troops, to the border. he says the border is overwhelmed. do you agree with that, sending national guard troops to the border? >> what else can he do. i absolutely agree with him. i was with him a month ago. we toured the border. joe biden said even most of the walls done, gates are not open, we'll leave the gates open. let people walk through. i took an aerial tour. that doesn't make any sense. ought lights and cameras set up trump administration got funded. joe biden says we'll not turn them on. so absolutely, there is a crisis at the border. at least joe biden said there is

a crisis but why doesn't he go fix this crisis? it, and so i'm glad that governor ducey is standing up saying he will worry about his citizens he knows that the president of the united states does not care about the safety of american citizens. stuart: governor, sorry, senator, you covered a lot of ground in 3 1/2 minutes. that is pretty good sir, congratulations. we want to hear more from you. >> bye-bye. stuart: yes, sir. we all know, susan knows, in particular cathie wood who runs a fund, right? susan: yes. stuart: she's upping her coinbase buying. why is she doing that? she is doubling down. susan: she is doubling down. stuart: tripling down. susan: why do we talk about cathie wood? because she returned 100% the past year. not a lot of fund managers give you those type of returns. she is the fund manager of the moment. she is doubling down on coinbase adding another 236,000 shares. that takes her total now to $400 million almost in coinbase. it is interesting that she

believes in coinbase because it is way off. the peak on its day one was above 420? it lost $20 billion in market cap from the first day debut. she is picking up palantir, nvidia, and draftkings. by the way i will throw this in there. do you know who supermodel gisele bundchen is? stuart: i do. susan: wife of tom brady. that is how you know her. she is joining as special advisor to draftkings ceo. you might be wondering what does she add, bring to the table. corporate sense? stuart: name recognition. susan: name recognition. she knows how to expand a brand. not only a supermodel but has successful businesses in brazil as well. at some point she was making more money than tom brady, did you know that? stuart: i didn't know that. but it its working. draftkings up another 1.7%. 56 bucks a share. susan: gisele. we love gisele. stuart: got it. quick check of the overall markets.

i see green. we had red at beginning of the show. 33 point gain for the nasdaq. 188 point gain for the dow industrials. now this, alexandria ocasio-cortez, getting backlash after she says this about the chauvin verdict. roll tape. >> not justice because justice is george floyd going home tonight to be with his family. stuart: what will bret baier say about that? i will ask him because he is on the show. then there is this. public schools in jersey city, new jersey will stay remote until september. the mayor of jersey city is next. he says, don't blame the unions for the lack of in-person learning. ♪.

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>> it is hard to have a fresh start when the past is on your mind. ♪. >> we have unfinished business to talk about. ♪. >> but it is a new me. stuart: that is just a quick

clip from the show, "you." it is on netflix. one of the shows netflix is banking on to get back their subscribers. susan is with us. it is 10:30 eastern time. stuart: what is the problem with subscriber growth at netflix? susan: too many signed up last year. pull forward effect because of covid, stuck at home, what are you going to do. even stuart varney signed up for a netflix account. you started streaming more programs on netflix. stuart: started using my family's netflix account. they paid for it. susan: really? okay. password sharing. i thought you actually paid for it. now i might have a problem with that. but net mix is forecasting the worst quarter for subscriber growth, this springtime in its history. worst subscriber growth. only a million new paying customers is anticipated from march to june. when have you ever heard that low of a number from netflix, right? the only added four million in the first three months of this year. that was even less of their own

forecast which rarely happens. obviously wall street puts it higher. they say covid was an impact. analysts are rushing in to cut their target prices you were they were surprised, wow, only four million. one million in the springtime. most are $600. stuart: but right now, netflix is at 505. susan: that's right. stuart: morgan stanley, these guys, piper, stifel says they could go up to $1500 a share. susan: stifel upgraded to a buy calling 650. interesting sequels like you coming up in the back hatch of the year which will reaccelerate people to spend and sign up. stuart: they hope. it is a good strategy obviously. change the subject, teachers, all the teachers in san francisco can get vaccinated but they're not going back to the classroom. what's the story, susan. susan: right.

looks like substitute teachers, short by 290. people signed up for the medical waivers, come up with excuses we're not going back to. stuart: they're not going back to school. susan: they don't have enough teachers to make up the difference. there are not enough substitute teachers to teach the classes with exemptions and medical waivers. despite the fact you have in-person learning was promoted by the go of saying it is okay to go back to in-person learning and teaching. we'll tap out for whatever reason. stuart: can you imagine how you would feel if you were a parent. susan: i would be upset. stuart: they get medical, whatever. but won't teach. they won't teach. >> my children, missing out on school. stuart: they're still getting paid. susan: yes, that's right. by my tax dollars. stuart: big bucks with a wonderful retirement plan. susan: also two months off, four months off. stuart: i think should do a ronald reagan like with the pat coworkers. you're fired you go back to work or you're fired, do it. of course you can't. let's move on, something similar, the mayor of jersey

city, stephen phillip is with us now. your honor, we're hot under the collar. as you might understand. your honor your city just delayed in-person learning until september. many of the schools in the rest of the state of new jersey are back in classroom teaching. i don't understand why in your town they won't teach in the classroom? >> yeah. look, i'm as disappointed as anybody. the superintendent and elected board of education, which is a separate body sent out a robocall sunday night after promising parents they would be back this week, abruptly changed course. they said that 500 teachers called out sick asking for accomodations. they couldn't handle it. we're sorting through it. we're doing our best to push them. i'm as disappointed as anybody. susan: can't you fire somebody? can't you tell them, you get back in the classroom or you don't get paid? what power do you have to get

these teachers back in the classroom? >> yeah. so let me say that it's a totally separate body here in new jersey. i have limited ability, we may pursue a lawsuit. we may pursue legal mechanics in order to get us moving in that direction, but reality not only a teacher issue. i've had 10 of millions of dollars federal dollars go towards the superintendent and elected board of education, what did they do to prepare? it seems like we had more than 3,000 teachers were ready to come back this week to teach the roughly 8,000 students that opted for some sort of in-person learning to start this week. it wasn't a shortage like it is in san francisco per se. this is like really a lack of leadership. it begs the question what happens to the federal dollars? susan: we wish you well, your honor. i think we're on the same page here. you've got to get back to the classroom. i just like to see if you could do something about it. steven, last word to you. >> we'll do our best. i just going to say we'll do our

best to pursue the legal front as you can. everybody around us is back in person. newark, new york city. there is no reason a city our size shouldn't. stuart: well-said. your honor, difficult subject, you came on the show we appreciate that. thanks so much, steven. >> thanks. stuart: sentencing of derek chauvin will take place in about eight weeks. question, are the protests over? live report from minneapolis coming up and also bret baier. ♪. i had saved up some money and then found the home of my dreams. but, my home of my dreams needed some work. sofi was the first lender that even offered a personal loan, and i didn't even know that was an option.

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♪ limu emu & doug ♪ liberty mutual customizes your car insurance the world's first six-function multipro tailgate. so you only pay for what you need. thank you! hey, hey, no, no limu, no limu! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >> bleep get out of new york. >> [bleep] get out of new york. >> we don't want you here. >> we don't want you here. >> we don't want you here. >> we don't want your [bleep] money. >> we don't want your [bleep] money. stuart: that is direct as you can see on the banner there, direct heckling of restaurantgoers in new york city last night following the guilty verdicts in the chauvin trial.

that happened in this city. get out of here. that is what they're saying. derek chauvin indeed was found guilty on all charges in the death of george floyd. matt flynn with us right now. he is in minneapolis. tell me what is happening there the day after the verdicts, matt. reporter: stuart, this is where everything all began, 38th and chicago. right now this area has a small crowd gathered. last night there were music celebrations and dancing here. this is the street where derek chauvin placed his knee on george floyd's neck where cup foods where floyd allegedly passed fake money. this is a police-free zone, an autonomous zone. there has been a spike in crime, even fatal shooting in this area. police warned they will eventually warn they will open the area for traffic and businesses here. after the guilty verdict, one of the first things floyd attorney

ben crump praised activists who manned this location. >> there are people that stayed in the streets. there are people who came nationally but more importantly the people who were here locally who were standing up for george floyd at 38th and chicago avenue, day in, and day out. those are the people who win. reporter: attorneys for the floyd family also say they are not done. they will not stop until the george floyd justice and policing act is passed. george floyd's family members say they got the verdict they wanted. they believe god answered their prayers. they're calling for more reform in the name of their murdered family member. >> we need each and every officer to be held accountable. until then it is still scared to be black man and woman in

america encountering police. >> this is no color barrier, for everyone that is held down, pinned down. people, we standing together in unity. reporter: convicted former officer derek chauvin will be sentenced in eight weeks on the highest charge he was found guilty of, which is the second-degree murder. attorneys here tell us in minnesota a person serves 2/3 of their sentence in prison. with good behavior, the rest is served on parole. the prosecution in this case stipulated aggravating factors. so the judge might increase chauvin's time in prison. throughout the case the defense repeatedly asked for a change in venue, repeatedly asked for acquittal, to much media saturation and too many local and national politicians were commenting on this. the defense said they might very well file an appeal but we'll keep you updated. stuart: matt, thank you very much indeed. we bring in bret baier, this indeed is the day after the

guilty verdict, my question, bret, now what? what is next? >> stuart, the first thing is that the department of justice, attorney general merrick garland moving forward with an investigation of the minneapolis police department and that could take a really long time and be really deep dive into that department on the civil rights action by the doj. that is significant because that's a big change for how the department of justice operated under attorney general barr who believed that state and local police departments and jurisdictions could figure that out and not have the federal top-down effort on police departments so that's number one. number two, i think there will be a real effort to push this george floyd bill that matt finn just mentioned. it will pass the house but will have a tough time in the senate. remember senator tim scott had a police reform bill that had bipartisan support but democrats blocked that. so now they want their own

version to go through. stuart: seems like here on out we're under the threat of a urban riot. if a jury decision or any other event goes quote, the wrong way. we'll have and urban riot. that seems to me to be a serious problem going forward. what say you? >> well it's a major problem for these jurisdictions. obviously these activists would say it's a problem for the police departments that produced these events. the police unions would sigh it is dangerous every day and it's a case-by-case basis. they're trying to do the best that they can. part of this bill is to limit qualified immunity for police officers which would prevent big, would eliminate the ability to prevent civil lawsuits which is a lot of what happens in the wake of all of this. you saw with george floyd before the jury was even seated in the criminal trial, his family was paid out. so, that was a sticking point

for the scott legislation. and we'll see if that continues to be. stuart: i want to change the subject to something which i really like to talk about and speculate about, that is your new series on "fox nation" called the unauthorized history of taxes. bear with us, bret, we'll give the audience a quick look at it. roll tape. >> the effort to make tax collection more efficient had at least one unlikely champion, free market economist milton friedman who would later win a nobel prize. >> and so friedman came up with this idea, what if we withheld taxes from every paycheck. that is how it all started. stuart: i got to watch this, bret. bearing in mind that i see lots of comment in the media this morning about how we need to beef up the irs because a lot of tax money is going uncollected. i'm sure you're aware of that story, bret? >> yes. and you know, listen, what i learned, this is the best part of these series on "fox nation"

is, that you go back to history, we've been there before, and you can learn a ton of how we got to where we are now. and part of that is milton friedman later said he really regretted that suggestion to withhold because it created this monster that became this giant bureaucracy that started feeding itself and that is where we are now in that the spending is increasing so thereby the taxes are going to increase. you see the history of how we got there. it was jfk who called for fewer taxes, less taxes and was ronald reagan obviously who realized that goal. stuart: good stuff. it was ronald reagan and his tax cuts that put me in the american middle class and i thank him every day. bret, thank you for a great series, by the way. we'll watch you tonight. "special report" 6:00 eastern, weekdays, we're always watching,

thank you, bret baier. right. stuart: you know the dating app, real change of subject, tinder, what? teaming up with beyond meat? [laughter]. why not? to help singles connect. vegetarians unite. we got the story coming up for you. plus we told you about restaurant struggling to hire staff due to extended unemployment benefits. some owners are resorting to cash bonuses to bring them back. ashley webster in the thick of it all in florida, with a live report on cash bonuses to get them back to work. we'll be back. ♪.

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they want to make the clubs richer. rich broadcasting rights, made-for-tv competition. it was supposed to be like the nfl once you're in the league you're in. you don't have to compete every year to stay in like the pan-european leagues. there is nothing wrong with that. stuart: okay. you're in favor of the european super league because you can make more money for the teams. susan: make more money. stuart: we hear you. susan: made-for-tv play. stuart: i want to bring ashley webster into this. he has a field. wait a second the man is out in the field at this moment. before we get to your report, i want to you, you really want the super league to collapse, don't you? ashley: couldn't be happier, when chelsea pulled out yesterday afternoon i knew the whole house of cards would come falling down. good. power to the fans, stu. they fun. the elite clubs who wanted to go off to make all of this money on the back of the fans by the way, it was already doomed to fail the moment they announced it and i'm very, very happy that it is 48 hours of complete nonsense.

and now we can get back to the way it is supposed to be. stuart: okay. hold on one second. you see, ashley's right, susan. you're totally wrong. susan: oh, come on. stuart: let's move ahead with ashley's report. ashley: yep. stuart: you're at a restaurant where i think the owner is trying to do something about getting workers back to work with cash bonuses, is that right? tell me more. ashley: yeah, i have just spilled the water, i'm absolutely useless wait staff. i'm here applying for a job at italian bistro benini, yee bore city, outside tampa, ybor city. let me see if i can get this without spilling on everybody. there is your glass of water. >> thank you but i ordered iced tea. >> we practiced that many times. jason is the owner for 25 years. how hard it is to hire people to

work in your restaurant? >> it is our biggest struggle. one of the biggest challenges we face right now in operations. we run ads. we do referral fees. we constantly and not getting, very difficult to compete with the free money. ashley: talking about benefits and all of that. >> benefits. ashley: is that the main reason, do you think, jason? >> i personally do, yes. ashley: how short are you right now? >> we're about six waiters short, a couple of bartenders short. bartenders, usually everybody is chomping at the bit to move behind the bar. a couple of servers assistants short, a hostess and multiple kitchen staff. ashley: you made a terrible mistake decided to hire me as a wait staff woe i get a bonus? >> you get $100 for getting the job. another 400 after 90 days. ashley: that is really good. >> that is how desperate we are to hire people. ashley: really? >> yes. ashley: you advertising how many people come in every day?

>> when we ran ads we had zero come in. when we had the referral fee, we had zero come in. ashley: we'll talk to jason throughout the day. stuart: that tells the story. stuart: when you are a waiter, don't sit down with the patrons. they don't like that kind of thing, you know what i mean. ashley: [laughter] stuart: we'll be back with him on this program shortly. martha maccallum, bjorn lund boring, and kennedy. congresswoman maxine waters went to minneapolis and encourage ad riot that is my opinion but no ban for twitter or facebook. why not? it was incitement. i will get into that on "my take" after this. ♪. at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to?

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♪ ♪ we made 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 >> back to being a raging bull, it is clear sailing for stocks, it was a buying opportunity. >> the year over year rate of cpi inflation took off. the question was whether the wages will grow rapidly enough to sustain a further rise going into 2022. >> open up the economy and allow people to go back to work. the american family plan, the

american jobs plan, those sound appealing but the truth is it should be called spend us into oblivion plan. ♪♪ stuart: it is 11 am, almost 11:0 one, wednesday april 21st. let's get to your money. some good news here, the dow industrials close to 200 points. the nasdaq up 30 despite a big drop for netflix which is weighing on that index. i am seeing some green. how about the yield on the 10 year treasury at a relatively low rate, below the one.6% rate, 158 as we speak, now this.

maxine waters went to minneapolis and encouraged a riot. why were her comments not banned by facebook or twitter? does incitement qualify? apparently not. the waters worldview is just fine. after the chauvin trial not just social media pushing us into the same way of thinking, big business jumped in too. apple's tim cook sharpened his social justice ask and tweeted justice for black people cannot be achieved without radical change in the structure of our society. better not disagree with the richest and most powerful company in the world, you must be on board with radical change. headline in the new york times, the gop is creating harsher penalties for protesters which can call protesters rioters, can't respond to looting and burning with punishment like they are doing in republican florida, you are not allowed to think that way and if you do your views will not see the light of day.

the president and vice president telus america is a racist society, that is pushed from the top down, is a ceo allowed to say no we are not? is a journalist in the mainstream media allowed to disagree? the chauvin trial is part of this, big business, social media, the left pushing us into one way of thinking, one extension of opinion, we are pushed into an intellectual straitjacket, anyone with an alternative point of view is stifled and suppressed. this is not good. this is america, you can't solve problems if free speech, open debate is pushed out of the public square. you can't do it. third hour of "varney and company" paroles on. roles on. i want to bring in martha maccallum who is with us today.

i say we need free speech to solve problems but i don't think we have free-speech. >> i think you are right. the message from the chauvin trial, there was a moment of relief the process had played out, i think about martin luther king, when i hear what tim cook has to say, we should you be judged by the content of our character, not the color of our skin and derek chauvin was judged by the content of his character by those individuals, he was found guilty of homicide, murder on two count and second-degree manslaughter but before the dust settled on that decision yesterday and their relation in the streets the hammer came down. this is not enough. i'm not saying it is enough. and the top of the white house, corporation leaders, the length we never see before.

they are with us or against us. and you're not on our side. >> and all kinds of input in at the moment. i want to enhance what you said yesterday. chelsea handler, trials are not needed when there is video evidence. and and do it again. >> it was a wake-up call to chelsea handler. you live in the united states of america. no matter how despicable your

behavior, the video that exists that shows what you did, charles manson had a trial, we had a long history in this country, no decision-making process, that happened in china and russia. we are putting you away the rest of your life. chelsea have a god for but she finders of in a situation she has to be judged by a jury i hope she gets that jerry, that trial. everyone in this country, no matter how despicable the public may find you or your action, derek chauvin had a respectable defense. he had an attorney who worked hard to make sure he was given every opportunity at justice and we saw what happened. the outcome is just. i would say pre-decision-making process, from the president on

down people like chelsea handler who are not willing to let the process play out, we should rejoice in this process. doesn't always get it right. we have seen egregious examples of miscarriage of justice in this country but it is a good system. stuart: the system worked. it absolutely work to. in a difficult case a public trial was held, he had his defense, the prosecutor had their say in the jury made their verdict. the system worked. >> god help us if we say there is no trial. because there is no videotape. stuart: relax, that was good. thank you very much. we will be watching on the story at 3:00 eastern weekdays on fox news. back to the markets, now we are up 215 points, 44 up from the nasdaq, up 17. i want to bring in michael lee, market watcher.

michael as three reasons to go out and buy stocks. reason number one, go. >> you hear a lot of pessimism in the market that we have come too far too fast and the market is too overvalued and nowhere to go. when you hear the experts say that, that is exactly your time to go in and start buying. when you want to be nervous when everybody is out there saying it is the perfect time to buy stocks. and worried about how high the market is, that is what you want to buy because consensus is wrong more often than it is right. stuart: you have a good sense of history. reason number 2, prophets real good?

>> going into the year, december 30 first analyst estimates for earnings growth was 15.9%. as of last friday we are tracking it just over 30. let me tell you in the history of analysts they always always always been too optimistic going into the year and estimate slowly come down, whether it is bull market or bear market a flat market. this is the first time they missed the mark to the upside by this much and i'm likely to think that will continue to happen. somewhere between 25% to 30% earnings growth and the next few quarters it is better than this one. stuart: that is extraordinary. reason number 3, you are saying printing of money by the federal reserve a good reason to buy stocks. >> with quantitative easing you don't get traditional cpi

inflation but financial asset inflation. what we saw from 2010 to 2020 was every time the fed turned on the printing press stocks trend higher. they are not going to stop anytime soon. jay powell wants to be reappointed by joe biden, the fed is renting $1.8 trillion a year to buy treasuries and mortgage bonds. i don't see that stopping anytime soon as long as we have an expanding economy, beginning stage of the business cycle, prophets are excellent and getting better and the money is on, stocks are going higher, we want to be a buyer. stuart: you do acknowledge that nothing goes up forever and sooner or later there will either be a plateau or downside move or big correction. you acknowledge that. you don't know when it will be. >> what you are doing, printing all this money and not investing in high-output, high multiplier manufacturing jobs,

stealing future return. at some .51015 years from now the market goes nowhere similar to what is happening in japan, you need to stay invested because they are pulling forward return from the next decade or the decade after, because of this money printing it will get ugly. i don't see that anytime in the next couple years. stuart: that is a long time frame. you are on videotape saying all this. to be accountable at some point in the future. see you later. another check of the market shows the green, nice until the green, susan looking at cruise lines in particular. goldman likes him. >> the entire cruise line

industry, $37, $8 more, the other travel group, jetblue and american announcing, america is hiring for 300 this year and double the number next year. the stock of the day has got to, and and for all the streaming promises and roku announcing, and it is starting as well. the high-growth high-tech names check the 10 year treasury yield below 150, these plays rallying and up in session. stuart: i love it, 5-8 as we speak and as you say that is below 160. big show still to come.

congresswoman nicole melius talk us --meliatakis is in favor of the repeal of salt. i'm very much in favor. mike pence gets a big win in the fight against cancel culture. progressives pushing for a brand-new green new deal. role tape. >> we cannot compromise on the fate of our planet and the fate of human civilization. stuart: wrong stuff, the plan is radical, will it work. limburg is an environmentalist and joins us next. ♪♪ spirit in the sky ♪♪ when i die ♪♪ you can spend your life in boxing or any other business,

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stuart: china's president xi jinping will speak at the us said virtual climate summit. environmentalist bjorn lomberg is with us. president biden is expected to propose a 50% cut in you is emissions by 2030. that is a radical plan. what do you make of it? >> it is a very expensive plan and also unclear whether it will happen but what we have to remember, john kerry has admitted as much. if you just cut carbon emissions it will matter almost nothing. if the us went entirely carbon neutral, stop all its co2

emissions tomorrow and the rest of the century which would be terrible for us economy and people in the us it would still just reduce temperatures by 0.3 degrees fahrenheit by the end of the century. this is not what it is about, what the us knows, as much as what china will do or the rest of the world will do and the african states and they have been saying we are not going to come into more. stuart: the whole thing doesn't work because china, the major polluter doesn't do something and india doesn't do something you haven't got a prayer. >> they do something but mostly for show. remember for most of the world's population, the ones that are not rich, 6 billion people, they want to lift their populations out of poverty and do so by cheap, accessible and reliable energy which is mostly right now fossil fuels and some

ways biden is doing what we have been doing for 30 years trying to gather all nations, have them make big proposals and big promises and fell on them later on. that's not the way to solve global warming. it is a problem but we should fix it smaller and cheaper, but biden is going to have a hard time getting the us public to pay trillions every year for his climate policies. stuart: progressive democrats led by aoc, once again pushing their green new deal. here's a list of what they want, role tape. >> we will transition to a 100% carbon free economy, and healthcare and housing, do we intend on sending a message the we need to go bigger and bolder, the answer is yes.

stuart: is that plan about climate or socialism? >> it is climate but as you hear about a lot of other things they want 3 healthcare, housing, access to nature, lots of other packages in there. what you have to remember, if you look at the climate, that is what i know about, promises to retrofit houses and businesses that could end up costing $2 trillion every year for the next 10 years at least. remember the average us citizen is willing to spend between 24, and $100 on climate policies every year, this is proposing thousands of dollars every year and this is where the disconnect is. if you want to fix climate and we should try to fix climate you need to find a way to do so smartly. that is not spending trillions of dollars, to solve the problem. it is about innovating and

spending more resources and innovation so you can find cheap green energy in the future, the chinese, indians and africans want. stuart: what a shame you are voicing the climate wilderness. we think you are all right, come back again soon. the administration is considering to pay farmers billions to help them cut carbon footprint. edward lawrence is with us. >> around this, farmers are split on this idea, to pay farmers to cut their carbon footprint. the commodity credit, to pay for those costly changes. the goal is to push farmers to

use compost for example instead of chemical fertilizer, cattle rotation where they leave the field empty to let the grass regrow. that takes money and space and supporters say the command will help us get the science right. >> if we get to the point, to pay-for-performance, provide the economic incentives to reward farmers and forest owners, to measure that well. with accuracy. >> critics coming from an unlikely source, the american farm bureau testified recently he's not comfortable with the idea, the author of setting the table said the science has not been proven. >> this seems to be a rebranding of good agriculture practices but to imagine they will produce a climate change breakthrough is not credible to

me. we haven't seen credible scientific estimates of additional carbon that can be sequestered from the use of these practices. >> these are the types of things that can be in the green new deal. stuart: they will be right in there along with control of your land and farm. thanks for joining us. we often change the subject dramatically. i will do that right now. there's an unlikely match between tender, the dating service and beyond me, fake me. >> share a connection in meat free food to celebrate earth day later tender is introducing a passion offering a gift to the first that match up winning singles.

and and the interest in no meets, an attractive trait, using it's apps for vegetarian diets, the most attractive trait in a potential match, so their data shows when in four were more important than sexual chemistry and appearance. 50% said diets are more important than political ideology. there is also a dating apps for vegetarians and vegans. don't know if you checked it out. they quadrupled 12,000 for 6 months of operations this year. stuart: not sure whether we did a commercial for tinder or commercial beyond meat. not sure what it was. >> more about vegan and people finding common ground. stuart: sexual chemistry. all good stuff.

amazon getting into the hair salon business. they want to read your palm. we will explain. rioters scream at people for being white and eating dinner at a new york restaurant. watch this. >> >> nicole says this is gotten out of control. she is right and next.

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stuart: plenty of green including the dow which is up 150 and the nasdaq is up 76. show me the vaccine makers, president biden will announce the this week the us will reach 200 million people jabbed and that is a milestone, down a fraction this morning. black lives matter protesters had diners in new york city. it is important, role that tape again.

>> we don't want you here. we don't -- stuart: congresswoman nicole millieatalk ais. why should businesses or white people or wealthy people come back to new york if that is going to hit them? >> absolutely right and this is concerning many of us who live in new york city because we want to see our city recuperate. we want to see tourists come back especially with so many businesses struggling, these tactics that the left are using that are -- that so more division to create distraction, to hurt people's livelihoods, to intimidate individuals. what can we do? we have to make sure our

elected officials are not sending the message. i've been doing my part to bring us together, to push back on those who are trying to influence our country. it is important the average person call their reps particularly bill deblasio and maxine waters who are encouraging this with their rhetoric and more importantly when it is time to vote you have to vote for people who are serious about these quality-of-life issues and crime affecting the city. we have a mayor's race in new york city and that is coming up in june on the democratic side. people should be paying attention and making sure we don't elect somebody like bill deblasio who is going to allow our city streets to be taken over and tie the hands of the police department in the process. legislators yesterday we voted to censure maxine waters and the democrats voted this down and people need to get on the

phone and contact their elected officials if they want this to stop. stuart: something more drastic is required. i want to talk about the repeal of the salt. state and local taxes. at this moment you can only deduct 10,$000 of state and local taxes against federal income tax returns. you want to eliminate the entirely and allow state and local taxes to be offset against federal income tax. i'm very much in favor of that but it primarily benefits wealthy people and primarily among that group benefits wealthy democrat donors, doesn't it? >> as a representative of staten island it is middle-class, my district that are being very hurt, property

taxes in new york city in the outer boroughs paying 7000, 12,$000 on average, this is the real estate tax. forget the city taxes and state taxes. middle-class are getting hit hard in new york. i encourage the mayor and governor to hold the line on spending and taxes but they are not doing that. the governor increased spending significantly. new york's state is spending as much as california yet they have twice as many residentss. in new york city property taxes have gone up over 50% since this mayor has been in office and the middle class is being heard, so i understand the concerns my colleagues have but for my district this is important and it is what i can do as a federal legislator to provide relief. stuart: fair enough, thank you for talking to us, see you again soon. we have been tell you that

restaurants are struggling to recruit employees. people would rather stay home than go back to work when they are receiving rich unemployment benefits. we go back to ashley webster. the last hour you told us about the restaurant owner who is offering cash payments to bring workers back. what else are they offering to get them back? >> they can offer as many hours as you want to work for one, they are up, if you get them the job and keep it, you get nice amount of money as well but it is not working, my days as a waitstaff, i failed the audition. these are the numbers of people working in the restaurant industry in february before the pandemic compared to last month. california down 38,000 jobs in restaurants, new york,

illinois, florida, down 102,000 as you can see, texas down 100,000 jobs. a young man, bob the bartender burden, who works at bernini's, this man in september said i need to find work, he came from nashville, to come to tampa. how did it work out? >> i got a job the second day i was here. came in, dropped off my resume, gave me a call back, i came in and hired on the spot. ashley: how is it going? >> little. i love working here, jason is great to work for. ashley: you got it all in. why are people not taking these jobs? you are short 9 positions. >> i don't know. i feel a lot of people are getting money for unemployment and don't want to go back to work -- stuart: you didn't want to do

that. it off of benefits. >> i like to work. i feel good working. ashley: bob says he will go back to nashville but he has found work and couldn't be happier. stuart: give bob a raise. a man who wants to work, give him a raise. he is a good man. now this, the latest sign of the recovery coming from baby shark, the kid's song, we got the story for you and the country's newest tech hub is in the middle of utah. we are taking you to the area known as the silicon slopes where the cost of living is cheap and wages are high. more varney after this.

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stuart: got the magic. okay. got to magic right here starting today. amazon will let whole foods shoppers pay with a swipe of their hands. we talked about this before and i want you to tell us why you think this is an invasion of privacy. >> he will tell us when was the last time you stepped into whole foods. i have issues with this. do you want a giant tech company storing her biometrics, who knows where the data goes, and what government state have access to it but you're getting convenience. the starts with one whole foods in the seattle area, amazon one is a program, play for items by placing their palm over the scanning device.

how you set it up is by credit card at the kiosk and scanning your palm in the biometrics and start paying with your palm and you can't walk out. the amazon ghost store, they will come after you. amazon one did rollout in september but it is the first whole foods, this is already in use at a dozen amazon stores. what about practice? amazon says it is highly secure but what is next? facial recognition, scanning, will you use that for convenience? stuart: what does amazon find out about me if they scan my palm? >> they know it is you. they know stuart varney stepped through, they know what your palm looks like. that is on record forever. do you want that? stuart: it doesn't really bother me that much i've got to say. >> everybody else does. it bothers me. stuart: just a form of id.

>> you can leave the country, you can't leave your palm. it is there forever. stuart: we will agree to differ. now this. economically, what is the best performing city in the united states? it is city and utah and that is where we find, mcshane, in the top-performing city of provo. >> reporter: look around. it is spectacular. the view and everything else but it is more than that. it is a business really environment and a thriving tech scene driving more workers. >> look outside. you see these mountains? we are a stones throw from some of the best mountains in the world. >> reporter: you can see the beauty and understand the sales pitch from 42-year-old billionaire ryan smith, basketball court in the lobby

of his software company so the new owner of the used to jazz and works on selling his home state. >> 15 years ago i was like i'm going to stay in the valley, now the amount of outreach we have i want to come here, i have friends who relocated. >> reporter: jessica jones is one of the relocated left the marketing job with amazon in seattle 2 and half years ago. >> first place i lived where i know my next-door neighbors and we know each other's names. >> jessica was able to buy her own home, something she couldn't afford in seattle but the cost of living is on the way up. zillow says home prices everything by a third during the pandemic when the milk and institute name provo the best performing march city, had the area leading the nation in job and wage growth. the talent pool is deep, turning out of graduate each string. at duncan aviation, the team that maintains private

aircraft, another industry taking off thanks to the tech boom. >> it had set up headquarters here, bigger divisions here. >> reporter: migration from the west is real as the area known as a silicon slopes aims to challenge silicon valley because america's innovation center. it is a well-kept secret in many ways. before the pandemic, you have more people hearing about it and making the move. stuart: we hear you, connell mcshane in the middle of it as usual. a publishing company taking the stand against their own woke employees. they will not bend to requests to cancel former vice president pence's new book. kennedy is here on that subject. ♪♪ ve you hundreds on car insurance and a whole lot more? so what are you waiting for? world's strongest man martins licis to help you break down boxes?

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grandparents, baby shark live, coming back to the stage, starts june 1st in texas. concerts are back on. how many people in the audience are back on and a semblance of normality, is it not. simon & schuster says mike pence's book will be published despite petitions for employees who wanted to cancel it. kennedy face-to-face, happy to see you back. i am real happy to see pence's book will be published, the woke brigade pushed back. >> what i don't understand for people have an issue with mike pence, the best way to take him down is to read his playbook. if you want to get at the heart of someone and how they think and feel, read it from their own mouth, their own pen. if you want to do the work,

that is how you do it but canceling everybody reading the same boring dumb tone it is so unacceptable. stuart: the critique of mike pence is he favored traditional marriage rather than gay marriage, that is the rub on mike pence. don't cancel the man, debate the man. let's talk about what he has got to say but that is not the way we go in this society. >> do it with curiosity and an open heart and bring him to the light. but no one wants to do that. they want to keep fighting and fracturing society, on one side or the other and there's a giant chasm. i don't like the chasm. i am over the chasm. stuart: talk about marijuana. 4:20 was yesterday. stuart: i am a day late. stuart: marijuana activists were handing free part 2 vaccinated people in new york city, they called it joints for

jabs. senator schumer wants marijuana to be decriminalized next year. that will be at the federal level. i am not going to express my opinion on this. what you say? >> i think it is fantastic because recreational marijuana in 15 states plus dc, additional marijuana legal in 37 states, 100 million people in the us living in states where there is some form of legal marijuana, 69% of respondentss in a quinnipiac poll said they favor legalizing marijuana more than $15 an hour minimum wage and this can have bipartisan support. stuart: opening at the federal level, this fair banking which allows banks to engage in the marijuana business. do this at the federal level and open it recreational marijuana to the entire country, that is where we are going. >> they are taking recreational marijuana whether it is legal.

this is about cannabis businesses. what is the $29 billion a year industry, this is $100 billion a year industry, but it is all cash transactions because it is federally illegal. it puts them at odds. the voters and legislators say this is fine recreationally. they saw what happened in california and oregon and colorado and realize the rule didn't follow out and the tax revenue from canada sales and so they know it is -- why not participate in it and allow businesses to do it safely. stuart: bring in tax revenue. it will happen. watch kennedy on kennedy. monday through thursday, 8:00 pm eastern on foxbusiness. thanks for being with us in the flesh. the oscars return sunday and so will the oscar gift bags for the nominees. those bags are worth 60,$000, taxable, you get a 1099 on it.

>> thing of taxes. what about the great trip? two nights at a resort with a dedicated staff of 12, your own personal 5-star chef, valued at $8,000 and a four night stay in turks and caicos worth 10,000, we know in the past some of these bags offered jewelry, expensive beauty treatments and custom created artwork. i heard 150,000. stuart: vegan sneakers, i missed that. >> premium vegan sneakers can replace the ones you have now. stuart: just can't wait. it is time -- ignore that. the pride -- the thursday -- wednesday trivia question. what is the average lifespan of a one dollar bill? the answer in a couple minutes. what do you think

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stuart: the question was, what is the average lifespan after one dollar bill? and the answer is? 18 months. that is about right, what i thought. the typical lifespan after coin though, that is 30 years. check the markets one more time, please. why not? there is plenty of green. dow back to 34,000 with a gain of almost 200 points. the nasdaq is close to 13,900, with a gain of over 100 points

and the s&p is up 26 points. so we've got, i will call it a pretty good rally after some stock price losses in recent sessions but right now we're back up, plenty of green and my time is up. so i will end it right there. bring in my colleague and friend, neil cavuto. it's yours, neil. neil: all right. thank you, stuart. i appreciate that. we'll see if we can keep that rally going, my friend. meantime we're focuses on a number of developments including attorney general merrick garland set to announce a probe in polices practices in minneapolis, after the verdict yesterday that electrified the nation. we have t.d. jakes on to talk about that. what he says the message of that verdict could be and the obligation on all of us to keep the calm. also talking to ben carson own the very same issue. and right now, on the vaccination front as well. so a lot coming up. meantime, we thought we would focus on a development here you're going to want to liste