tv Varney Company FOX Business April 27, 2021 9:00am-12:00pm EDT
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maria: welcome back. vice president harris is not going to the border, but i am attuning tomorrow morning when i'm there live. we will bring you up close and personal notes and news from the border for the rest of the week. have a great day. "varney & co." begins right now. take it away, stu. stuart: i didn't know you are going to the border. good idea and i will listen to what you have to say tomorrow morning, maria. maria: thank you. stuart: sure thing. good morning. this is as big as it gets on the world's most powerful companies are about to report their financial condition and what they report will make a big difference to your 4o1k. this is big tech week. hours from now microsoft and google report, investors seem to expect a strong performance because their
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stock prices had already moved up to record levels. there is a lot at stake. big tech has become the backbone of the market, blowout numbers would like to keep the rally going, but disappointment could upset the whole applecart. as for the market overall, mixed in advance of those earnings. the value of all stocks added up and you are now at a record high. $44trillion is the value of all stocks on all exchanges with the dow jones this morning down a little, s&p and nasdaq up a little. tesla on the downside this morning despite reporting record car deliveries. we have more on that later, down to an half preceptor ups jumping into record territory as they sigh 14% increase in daily online shopping pair look at the stock up over 9%. we have new numbers on travel and it shows a surge of airline flights and hotel
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bookings appear despite the authorities urging caution, looks like a blockbuster summer with wall street taking note. moments from now, the housing boom, just how much have prices going up, the answer is a lot. we have the numbers and they are huge. tuesday, april 27, "varney & co." is about to begin. ♪♪ stuart: that new york city and we are talking right now about a housing boom that is ongoing. it's breaking as we speak. case shiller home price index with a significant measure of home prices around the country. guess what, puma prices absolutely surged, up 11.9%
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over this time when year ago. it's the largest increase annual increase since march, 2014. phoenix, san diego, seattle reported the highest year-over-year gains amongst the 20 cities. this is a housing boom ongoing, not over yet. let's get to the stock market. let's bring in-- these are futures, not much price change. gary kaltbaum is with us now. gary, i remember so well just a short time ago, a couple of months may be, you are saying 35000 on the dow jones. is 34000 now. do we get to 35000 in may? >> believe it or not, i think there's a pretty darn good chance and i want to add to something to, the nasdaq is about to break out of range and the nasdaq is the higher beta stock and if that is stolen i think the nasdaq has
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another 10 or 20% the next few months, so everything is in gear to keep this going. you have the fed, jay powell saying nothing different and will keep printing massive amounts of money while the economy is opening up in gdp is six or 7% and that fuels stocks and i think there is more to go. stuart: wait a second, wait a second, let's not get away from this. did you just say the nasdaq in the next few months could go up another 10 to 15%? >> yes, 10 to 20%, actually appeared nasdaq has been kind of dormant the last two or three months and now i think it's kicking in gear. at the higher beta stocks technology stocks that have been doing-- by the way amazon hasn't moved in nine months and if it breaks out on earnings, we will see some fireworks so yeah, that's my expectation. we have to get past this week because all the big guys are
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reporting, but i think most will react pretty well to whatever they had to say. stuart: okay. it's tax the rich week. i coined that expression. i think you believe these tax hikes that are being proposed could upset the markets. 30 seconds to make your case. >> when you take trillions out of the economy and put it in the government's hands, case closed. i don't need to go further and i must add it's not just tax the rich, more importantly it's tax the upward mobility of the 200 million adults that are trying to become rich and that i think is the goal of this juncture appeared massive tax increases of every level going forward and it's an absolute favorite to say no one else is affected and if a capital gains gigantic moved to the upside and taxes affect the markets there go 401k's for people and some of the wealth effect, so nothing good comes
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from it. i'm sick over it. i was hoping we would get gel moderate. i don't even want to use the word that i want to used to describe what i'm seeing. stuart: you are a diplomat. gary kaltbaum, thank you for being here and we are watching the nasdaq believe me after what you said. thank you. let's get to susan, big week for big tag, starts today with microsoft and google. already i think near record prices at. susan: in deed. microsoft, google and the big ones "after the bell" so let's start with microsoft since that your beloved one, second biggest company in america and biggest driver as always will be cloud. they have been putting in growth rates of 50% plus so we look to something close to that with now making more sales than windows does for microsoft. isn't that a sign of the time and also gaming by microsoft, also important metric. for google, blowout sales records is what we are looking for thanks to a sharp
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recovery and digital ad is spending searching youtube also key as well an alphabet dominating searches with over 90% of the market share also over 90% in maps. youtube gets three quarters of the world's online video market so you can imagine antitrust and fighting those lawsuits will likely come up in the earnings call. i will speak with alphabet google ceo after the earnings later today. stuart: got it. thank you. changing the subject to the vaccination pandemic situation for the president is expected to announce updated guidance on masks today. dr. matt mccarthy joins us right now. do you think we should stop wearing masks outside? >> i think that's exactly what the guidance coming later today will tell us that if you are outside and you're not around people then don't wear a mask of your the thing we have to think about is there's a lot of nuance to this. if i'm out jogging on a trip
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all by myself on not wearing a mask. if i am in a big crowd of people outside i may have a mask with me and think about putting it on. the good news is that it's not that the science has changed it's just that the risk has changed with a lot of people vaccinated. we have case counts of dropping. all of this news means we can start to relieve some of the onerous restrictions, so for me when i leave the house i put a mask in my pocket, but i don't plan to wear it unless a surge of a crowd somehow comes around me and that doesn't happen often, so they take away here is that we will see updated guidance on masks that you don't need to wear them in most situations outside. great news for all americans. stuart: real problem emerging in india, 300,000 cases of plus four days on end every day 320,000 the last 24 hours. you only have 1.7% of the people in india fully vaccinated. i understand that maybe there
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is a problem with variance in india. could their covid problem in the variance become our new problem here? >> this is the most pressing issue right now and the pandemic, what's happening in india is a humanitarian crisis and we see a double mutant in india of 617. no evidence yet that it evades our vaccine, but the sheer numbers coming out of india are devastating with over 300,000 new cases a day and this is certainly a vast undercounting. we probably have come that close to half a million cases a day. the reason this affects all of us is every time the virus infects another human it has the chance to mutate, and a chance to become a new variance, the most problematic variant we have, the uk variant of south african marriott, these likely emerge in individual cases, people with weakened immune systems and when i
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look at india my heart breaks for what's happening over there, but am also thinking about the fact that we may be dealing with a new deli variant three months from now because of the replication and mutation happening right now, so this pandemic is showing we are in an interconnected world and it's yet another egg day-- example of a the humanitarian disaster in india will affect all of us so good moved to send them resources. stuart: real fast, are we in danger of a new lockdown or new restrictive practices in america if a dangerous variant emerges and it's not subject to vaccination? >> well, i think first of all lockdowns are not on the horizon. our vaccines work against every single marry into that we have. at the three authorized in the united states work. if you are on the fence, get vaccinated. i don't expect there to be some new scary variant coming out that evades our vaccines.
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we are on the road to recovery unquestionably and vaccinations are working. stuart: thought it. thank you very much for being here today. always appreciated. on a related note, we have this from west virginia, that state is offering $100 savings bond to 16 to 35 -year-olds that she is to get vaccinated and by the way if you have already been vaccinated you can apply for the $100 savings bonds. the governor wants 70% of the state vaccinated and so he's offering incentives. checking futures, nasdaq is looking like it's going up a little. failed presidential candidate elizabeth warren says she is still smiling even after losing to joe biden. we will explain. i know the answer to that one. travel is roaring back with the numbers to prove it. i'm telling you, people have enough of being locked out and they are busting loose. more "varney & co." after
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stuart: for about a year we have been showing you the traffic on sixth avenue, the heart of office landed manhattan. i do declare that saliva shot and i think traffic is beginning to pick up a little. we like that which brings us to this, travel is picking up nationwide appeared flight bookings in march , up 79% just compared to january of this year. that's a surge.
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art laffer is with us. i say this is back to normal, a riproaring economy busting out the summer. what say you? >> i think you are right . i think we will have a nice bounce back up to almost normal, may be up to normal which would be great and that would include a great deal of economic growth even though it's just catching up to where we would have been. it's coming back from the pandemic and i think you are right we will see a large increase in gdp. stuart: bank of america says the word inflation is being used more than ever. is that an inflation indicator? do you see signs of inflation picking up already? >> this is an interesting question. all of my businesses that i deal with ect. all tell me they see inflation picking up at the ground level. they can see the numbers coming in with new prices, all of that. when i look at my indicators which 10 year bond leo dashiell, the gold prices,
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some others as well. i don't see it in the macro numbers. gold is up from $1700 to almost $1800, but that's way below it was in 2000. the tip shield is 1.6% which is way below where it would be if inflation were in there, i mean, we still have lower than 2% inflation by far, so when i look at mine, no, but one thing that will keep inflation down in the short run is the very fast growth in the economy. if you have a group bump across the-- a bumper crop of apples prices go down not up. my view is i think we should be careful. i'm quite anxious that inflation will pick up over the next year or two, once they catch up is done and what's the tax rates hate you will get slower growth in monies live by pumped in and i think that together will be potentially inflationary . stuart: so, the next three or four months that carry us
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through the summer and into early fall, the economy is doing just about as well or as good as it's done ever because this is the perfect situation as you are outlining it; right? >> yes. it is perfect and one of the thing that is good for the economy now, not good later, but tax increases. if you know they are going to raise the capital gains tax rate, you are going to sell your assets now and take your earnings now, so the potential of a tax increase in the future leads to exceptional growth in the short run, but then very bad long-term growth prospects going forward and that's exactly where we are with the biden administration. they are proposing a large increase in taxes that will cause a short-term surge, but lower long-term growth rates which will be bad for the economy. stuart: suppose they backdate the tax increases to january 1 of this year. bill clinton did that way
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back in the early 1990s, he did, he backdated tax increase. >> we did it with the tax cuts in 1980-- 81 as well. we backdated and passed to august and backdated tax rate reduction for the beginning of the year. some they cannot backdate-- at least they never have and once you come out of house ways and means that's on the capital gains tax goes into effect because capital gains isn't something you pay on an annual basis. you pay it from the date of purchase to the date of sale, so things like that usually take affect the day after the bill is read of house ways and means. i don't know if they will go along with that tradition this time, but you never know , i mean, they have shown themselves not to be terribly sensitive to business. stuart: right. [laughter] that's putting it so diplomatically.
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>> i think you should have a show where someone interviews you for their showing talks about your past history. i think that would be great to everyone loves you and your shelf and they would love to know more about you just for the record that's my suggestion. stuart: just for the record, art laffer, flattery is the mother's milk of television and you play that card very well. [laughter] stuart: careful, be very careful. you are doing well and tell me your last line. thank you. >> thank you. my pleasure. stuart: restaurants hit hard by the pandemic can get some relief beginning may 3, restaurants and bars can tap into the $29 billion grants package to help boost the food industry.
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apparently restaurants and bars can get into that. checking the market indicators. 10 year treasury 158. price of gold $1784 per ounce bitcoin i think is 55000-- 54900 is the price right now and oil, the average price of gas is still hovering around $2.88, oil $62. $2.88 gasoline, that is up $1.11 per gallon from the same day last year appeared at a price increase quick look at futures as we head towards the opening of the market, only the dow jones is slightly lower tier people of california have spoken. governor newsom will officially face a recall election. is there the slightest chance he will be replaced by a republican ? some in california live and hope. we'll be back.
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i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis and is not for treating symptos unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm.
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tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of te arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. stuart: futures suggest an opening higher, the s&p and nasdaq slightly lower for the
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dow jones. microsoft and google report later today. let's bring in mark mahaney. let's start with microsoft. is there a magic indicator, a magic number in that report on microsoft you are looking for? >> i'm going to be super careful. i don't directly cover microsoft. i think most people look at the cloud numbers that come out of microsoft. the fastest growing element or one of the fastest-growing elements of technology which is probably structurally stepped up because of covid so we will see if it happened in microsoft results with acceleration in their cloud revenue. stuart: we know what the analysts are saying, what expectations are for both companies. my question is for overall big tech, will they come up with blowout numbers that just blow analysts expectations away and give us all a nice surprise on the upside? >> i doubt that. these companies are so large now, it you go through the
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week, we are talking about 6 trillion in market cap they're about to reports of microsoft, google, amazon, facebook i'm in the companies are so large that for them to put out blowout numbers is hard. advertising names, however, google's and facebook's should probably have the strongest momentum with the comps and then you have some really strong tailwind from reopening of the economy particularly the surge of new business formation, those new businesses are going straight to google and facebook to start their initial campaigns and then you have this tipping of ad budgets online so that add names if there are blowouts most likely be with the ad names but i still think you will have upside if not blowouts. stuart: let's go the other way, supposing there is disappointment, are these big tech companies so important that disappointment would bring down the whole market? >> i don't think so. you would have to have a pretty massive disappointment, but their caps are big enough.
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i think the question will be around some of the covid quote unquote covid winners, names like amazon that had surge in volume and revenue in the middle of last year. what happens when they now have to guide against the tough comps? will you see a dramatic acceleration of growth in the market? amazon has to report and they will talk about whether they can maintain 40% revenue growth, that's almost to exit the rate they had prior to covid, can they really maintain that? that's the big question in the market this week is. stuart: i can ever remember a time when such a small group of companies so dominated the economy going forward and the stock market in the present. have you ever seen anything like this before? >> no, the network effect of technology, they are practically and has attended and there's no question they are very powerful platforms across a lot of different areas, no doubt about it.
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stuart: mark mahaney, thank you for being with us. see you again later. we are about to start trading on this tuesday, morning. remember please the big news is at 4:00 p.m. when we get google and microsoft earnings and the rest of the big tech later this week. it's almost 9:30 a.m. eastern time and we are off and running. we are slightly lower for the dow jones, of about 40 points and we haven't even fairly even split amongst the dow jones 30 between winners in the green and the losers in red. we have a .16 drop for the dow jones, s&p also shows-- fractional loss there? fractional gain up .11%. the nasdaq composite probably doing better because the expectation is for these big tech earnings to be strong, up almost a quarter of a percent for the nasdaq. the only news, microsoft and they report later this afternoon.
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261 on microsoft. all the others on the upside including alphabet, google who reports this afternoon, $2311 per share as we speak for google. test on the downside. 19-dollar, two and half percent drop. what's the problem, susan? susan: might be quality of profits as we see record profit for tesla but the majority came again from selling these green credits to other companies and not from selling cars. they did report a 100 million-dollar plus positive profit and impact from selling bitcoin, 10% during the quarter and that ignited a debate between dave portnoy and elon musk. day .9 tweeting elon musk buys bitcoin and pumps and dumps it when he makes a fortune when musk responded i have not sold any of my bitcoin, tesla sold around 10% of the holdings to approve that liquidity a bitcoin. you know what i found interesting, elon musk
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actually owns bitcoin. i didn't know that. i thought it was just a purchase by the company so i thought that was revealing. stuart: i remember he said the company bought one and a half billion dollars. susan: the company. stuart: i don't remember saying if he bought dogecoin or joke coin. susan: personal holdings has bitcoin so everyone was like a elon musk is buying it privately also, something we didn't know before. stuart: 716 is the tesla quote as we speak. now, ups way way up this morning. a .9%. i guess that pandemic was good for them. susan: you see a lot of the delivery trucks on your street with better sales, better profit, delivery volume up 14% from a year ago. it's driven by small and medium-size businesses, not the amazons with these giant mega tech companies we talk about. upgrading the stock calling
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it a hold worth $150 at least. stuart: $150. susan: that was up from the cell because they actually did call it a salad now they say if you have it, hold it, don't buy any more. stuart: i will never understand these guys other companies with earnings today, 3m strong earnings, sales and personal safety products like the n25 mask of about 13%, but didn't do well, down 3%. how about crocs, kind of funny looking shoes. they raised their 2021 assails outlook expecting sales to surge 40 or 50% this year. you say that and the stock goes up, 9.6% for crocs. jetblue reported this morning, down 1.7%. susan: just getting back to crocs, did you know crocs are the it she would the pandemic with justin bieber selling
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out in a matter of minutes. you must have a pair. i've seen you in a pair, having i? stuart: now, you have not. susan: so they were just socks and sandals, got it. jetblue cost about a quarter of a billion dollars in the first quarter, less than anticipated but they expect passenger rebound in the summer kind of like the other airlines of morgan stanley says it's worth the $30 and they say the discount carriers will do better than the legacy once once the reopening and travel comes through. stuart: $20 a share on jetblue as we speak. i have some dow jones winners as we say every day there are 30 stocks in the dow jones and here's the top performers, goldman sachs out front of the doubt .%. i see mcdonald's, chevron, disney and home depot on the list as well with s&p 500, ups no surprises at $16 feared very strong performance appeared nasdaq, the big winner micon
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technologist up to percent. looking at gamestop, talk about a big winner as its back on the upside, 6% gain if. susan: is something they should have done really during the end of january during the reddit wall street that's saga when it almost hit $500 finally raising cash half a billion dollars worth selling about three and half million shares as part of the 13% shareholder any was this turnaround plan, he calls it the turnaround for the mean era in this new digital era jenny wants a customer service transitioning to online and of course that will take some money. stuart: gamestop back to 180, up 6% this morning. next case lift will sell its self driving car unit to a subsidiary of toyota. they will get 550 million bucks for. lyft is up on that pure by the way its rival uber sold their self driving unit to a startup, so it looks like
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these ridesharing companies are out or getting out of the self driving business. lyft $65 a share. at the gambling stop-- a stock draftkings, the investment firm says both are winners and there's enough space, the space is big enough for both companies to succeed. that's promising. snapchat, i think this is a susan's story. wise a down? susan: they are raising a million dollars by selling bonds , still they had that huge a earnings you mentioned the last week, 280 million daily active users the stock is up 250% this past year, pretty good gains to lock in. stuart: yeah, before you said i will say, it's another when i missed because i don't understand that well. $59 a share. kansas city chiefs player just became the first in the
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nfl to convert his entire salary to bitcoin. how did he make that decision? why did he make that decision? i will ask him. he's on the show. representative alexandria ocasio-cortez giving president biden her stamp of approval. >> president biden has definitely exceeded expectations that progressives have. stuart: a lot of us were hoping for a more conservative administration but we did not get it. we will talk to larry kudlow about the nature of this administration. larry kudlow is next. ♪♪ ♪♪
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stuart: not too sure about that. we are playing the song because more taxes are causing some of our nations top earners to flea states like new york and california. that's happening. edward lawrence joins us. do we know how may people have already left? four specifically talked about california 135,000 people lost for california last year so high and low wage earners are looking around and where they live saying their money could go further in another part of the country. month in capital gains and that reaches about 50% in new york and california for people making more than a million dollars and when you include the state add-ons with a lot of people look around to lead those estates so we see that in the data with the u.s. census proofing on mass scale for example,
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states in orange or losing congressional seats for the first time in history california has on the list. reporting and the loss of more than half a million people over the past two years other states on the map again congressional seats because of the amount of people moving in. texas gained it to congressional seats. and one very rich person, elon musk moving test operations to austin. larry ellison houston and joe lansdale leaving california, all including elon musk taking about $290 billion in net worth with them, that's a lot of tax money the state is losing, moves that will continue to happen according to researchers. listen it. >> you are talking about a lot of money and this self cap which should exist, but it's absolutely no offset so you just have a huge push to leave the state and we are already seeing those so we will exacerbated and all the
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economic activity, all the investment will lead with it. reporter: other analysts say when you have states with capital gains that will reach 50% with the state add-ons, wealthy earners will look to move more quickly and avoid the tax before comes in and i'm also hearing from alice that say we could see a way that midsize business owners thinking about selling and getting out before the huge capital gains kick in. stuart: point taken, edward lawrence, thank you. let's bring in larry kudlow who joins us this tuesday morning. the census numbers show people are moving to republican states, texas and florida. i think people are actually voting and moving with their feet. what say you? >> i agree one 100%. i'm looking at these numbers, california loses ac and as edward says texas picks up two, florida picks up one and michigan and illinois each
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one of those lost one. new-- new york loses one, another blue state there do you want to hear unemployment numbers with all these high taxes and by the way biden's capital gains tax is the dumbest tax hike in history but california's unemployment rate 8.5. new york state unemployment 8.7. new york city, which will face 815% tax rate alone 11.7%, these are unemployment. compare this to no tax states, no income tax estates, right to work states and take that welcome businesses. florida's unemployment 4.7. texas unemployment 6.9. national rates is i don't know about 6%, so another words the big blue states have very high unemployment because of their tax and spending and regulatory policies and the red states have rather low unemployment because they have better
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quality, businesses move, individuals move. you are right. by the way, covid is part of this the way they handled the covid. stuart: but it's not going to change. look at the tax policies and the big government policies that this administration is proposing and even if they get just half of what they are proposing you still are going way down the road towards big government and more taxes this is not going to change, so therefore is this exodus from the high tax democrat states will it speed up some more? >> well, it may, sure, i mean, the trendlines are unmistakable. by the way, i'm worried about the global rates for capital. capital is very mobile, so we can move from state to state, sure and it could also move from country to country and i fear that a tax on investment, the huge hike in the corporate tax, the 28% and the huger doubling of the
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capital gains tax which is consistent tory, so that is investment, so the people who suffer the most, by the way, are to the owners and investors. it's the middle class because corporate tax burden all 70% on the blue-collar middle-class, academic study after academic study shows that. now, they can move overseas that's the thing that worries mood -- may appear we will now have by far the highest capital gains tax rate and by the way it will be the highest in u.s. history, but the highest of all the major countries. europe 19%. even sweden, bernie sanders favorite place, sweden, the socialist utopia he loves us so much, capital gains tax in sweden is 30%. our skills to 33.4 federally that then you add the corporate tax, but double tax and you gotta go through the corporate profit tax and then
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you have state taxes so a lot of states will be at 55 to 60%, sweden is 30 and by the way china's capital gains tax , draw moral, 20. we are giving the store away. this is redistribution, assault on investment and it -- i will say house member aoc is correct, the progressive left to left at one biden's heart, absolutely. stuart: the real president of the united states today is bernie sanders and the vice president is aoc and i don't think i'm too far out of line, i really don't. >> it works for me. [laughter] i would just say, it's up to the gop, to make this case. they have to argue policies, policies because biden's policies are antigrowth, anti- recovery. they are prosperity killers, but the gop should move away
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from personalities and a focus on the policies and if they do because the country doesn't agree with these massive spending and taxing policies and if they do they will carry the midterms next year, but if they squabble with themselves personality wise, if it is a circular firing squad for the gop than the progressive left it will hold on. i hope the gop wises up. stuart: larry, we will watch you 4:00 p.m. eastern this afternoon . you will be there. i will be watching and so will our viewers. see you later. ufc president dana white says he's keeping politics out of the ring. watch this. >> when people tune in to watch sports, they don't want to hear that crab. they don't want to hear what your opinions are or who you are voting for or what you are doing. they want to get away from everything in their life.
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act now! stuart: there you have it, the gateway arch of the st. louis. great shot to start the morning. no shot, no job. as well as some employers are telling prospective hires lydia who in new york. are some employers requiring existing employers to get the shot as well? reporter: yes, they are, but exceptions must be made for both health and religious reasons, but legal experts tell me for employers that are mandating current employees, failure to comply could ultimately lead to termination. here are some of the
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companies that the "wall street journal" reported have started to issue mandates as either prospective or current employers-- employees. they range from michelin rated restaurant to a telecom company. this follows a few trends we have seen in vaccine mandates from colleges and universities, sporting events and also cruise lines. as these policies become more prevalent it seems they could be met with some resistance and there's also a new fox news poll that shows that 22% of registered voters don't plan to get the shot and also comes with more than 8 million people that missed their second dose of their vaccine raising concerns among public health professionals. right now it's unclear how vaccine mandates from employers will interact with vaccine hesitancy. perhaps, mandates from employers will encourage folks that are holding out on getting the vaccine to get the shot, but vaccine hesitancy could interfere
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with prospective employment as we try to emerge from the pandemic and reopen the economy. what i can tell you now is that our news poll, this is a divisive issue , 41% of people thinking it's okay for employers to mandate the vaccine, but 44% thinking that it's not. back to you. stuart: may be in that will be sorted out in court as it often is. lydia, thank you. still ahead, big show, bill mcgurn, jon taffer, joe concha sandra smith all on deck for the show and i will make a prediction. i think we will have a blockbuster summer. all the signs are there, rip roaring economy in american summer
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♪. stuart: i said the other day i like the cars. what do the producers do? they keep playing the cars for me. thank you very much, producers. all good. good morning, everyone. 10:00 eastern time. we go straight to your money. seeing red, not a lot of it. nasdaq, s&p, dow is down. treasury yield unchanged for some time. you're at 1.58%. the critical thing is it below
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1.6%? the answer is, yes it is. microsoft, alphabet, otherwise known as google. they have planning to report after the bell. google i see down .8%. just coming in to us right now the latest read on consumer confidence. susan, please. the number. susan: 121.7. that is a 13-month high and it is much higher than economists forecast who were looking for a read of 113. that comes off the one-year high in in in march as well. confidence coming from the stimulus checks. case-shiller, with home prices rising in the fastest rate in 14 years this morning. home values going up. you feel wealth, more to spending and opening the wallet as well. stuart: like stock prices going up. you feel wealthier if your 401(k) is doing well.
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susan: yeah. stuart: called the wealth effect? susan: yeah. stuart: your house is worth more. your stocks are worth more. you're more wealthy. you can afford to take something out spend it elsewhere. it is working. by the way terrific news on consumer confidence but it didn't have that big of an impact on the stock market. we still have the dow down 30 points. susan, thank you very much indeed. now this. all the signs are there, we're going to have a blockbuster summer. you can feel the anxiety level falling, you can feel excitement building. we're already busting loose. i think we're planning for more. adobe tracks travel. they report a rapid run uptrend in number of flights, up 79% in march compared to january of this year. just in two months you have gone straight up. same with hotel bookings, gone up 64% in martha.
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is extraordinary. number of passengers going through tsa checkpoints, plus the europeans opening up to american tourists, you have a blockbuster summer travel season. it may be the best ever. we have the money to enjoy our summer. those emergency payments continue into the fall and there is more than $2 trillion in our bank accounts ready to spend. the authorities still urge caution but the mood has changed. anxiety has been replaced by the urge to be free. we know we're paying dearly for being couped up yet we're fed up with it. our patience is running thin. we want out. so here is where we stand. cases down, deaths down, hospitalizations down, vaccinations keep rolling. herd immunity just weeks away. we have arrived. president biden thinks we may be able to have family gatherings again by july the 4th. i don't think we'll wait that long. we'll have a normal american summer. so get out of the way.
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second hour of "varney & company" is about to begin. ♪. stuart: there he is, he has got his jacket on, the got the bow tie on. there he is. he actually got a smile on his face. are you busting to get out, get free, exercise your freedom, scott? >> well, stuart, i have been. i'm looking at this, downside i feel like we're celebrating getting back to normalcy, right? i don't want to get too excited about that. the consumer confidence numbers are fantastic and everything should be and we should have fantastic expectations of gdp because we're reopening. i'm not sure it is a reawakening. we should be reopening and the only problem not everybody wants to go back to work and that will slow things down, right? i was in scottsdale the last
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three weeks, can't get an uber, a lyft, a reservation at a restaurant. that is false sense getting back to normal. due to the fact that we're not getting people back to work. i'm here for breaking news from the government. all-time record low unemployment in december of 2019. right? we had the pandemic and shut everything down. i have a dirty little secret that gets us back to all-time record unemployment. ready? open up the economy. stop trying to spend money and open up a economy that people don't want to work yet. stop spending money and open up the economy and we'll get back to normal than we had before. stuart: they will not do that. >> i know that. stuart: we might. we will be imposing tax increases and we are going to spend a ton of money. with that in mind do you expect the market rally to run out of steam as all these things hit the market and the economy?
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>> tell you what, i think the smart money will look at this like an event and not a trend. the government will tax it like it's a trend, right? they will see all the economic activity, get excited about it, we'll hit the tax wall. it will only be an event, stuart. it will be binary. nobody ever seen a shutdown of a 28 trillion-dollar economy and reopened it before. this is all new to everybody. the government will see it as a trend, tax it as a trend. here is my big worry, come next spring we'll wake up with a 10 trillion-dollar spending hankover and have a paul of taxes. we'll have gdp of 2, to 3%. how does the world look like that in that scenario. i don't think the economy can take these tax increases and i think they're going softly too. stuart: very original, scott. good stuff. thanks as always joining us. it is original. good stuff, see you later.
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employees of simon & schuster, the publisher, they called on the publisher to cut ties with trump officials. bill mcgurn joins us. you've seen this. this is a woke petition for their own employees don't publish mike pence, don't do this, don't do that. this is example of woke employees actually running the company, right? >> right. it is lunatics in charge of the asylum. i don't think simon & schuster has any choice. you know what makes it worse, stuart, this is a publishing company. you would think a publishing company is all about free speech and giving people voice and everything. they want to close it down and have a one-sided debate. it is just extraordinary. stuart: you think they will get away with it? i believe simon & schuster said no to the petition but you think that it might still come back to haunt them in the future? >> i don't think they have much of a choice.
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i mean these are the decisions that management makes, right, and if you, if you let them cancel your book, then you ceded your authority. so i think the employees have put the management in this kind of a life-or-death situation. i don't think they have any choice but to say no. it is also, stuart, it is pretty arrogant. i worked at a lot of places and i worked at a lot of places you know in opinion. like publishing and so forth and newspapers and i have always thought if i really had objections to how the place was run philosophically, it ran against my principles the honorable thing to do is resign. not stay there, whine, stamp your feet say it should go my way. i find this extraordinary they're making these kind of demands. i don't think there is any contract that gives them the right over who gets published.
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stuart: i agree entirely. i'm sure you saw this. the oscar brought in the lowest ratings in the show's history. you wrote an op-ed, the title was, give bill maher an oscar. you say he called it. what was bill maher right about? >> he was right about everything. he did a little clip about two weeks before. he said the oscars should be called the downers for debbie downer because, all the movies are films american people largely have not heard of or seen and they're all depressing. he went through, you know, he went through the list. it wasn't so much the politics, though there was a lot of politics. regina king started it off making a reference to the derek chauvin vote, jury vote in minneapolis. but it wasn't really the politics that killed it. it was just that it was so boring. i think bill maher said you know if it is so woke how come i'm
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falling asleep when i watch these things? stuart: i never thought that i would agree with bill maher on things but i guess in this particular instance he was absolutely dead right and he called it correctly. bill mcgurn, thank you very much, sir. thank you. >> thanks, stuart. stuart: get back to the market. no big impact from those very strong consumer sentiment numbers, consumer confidence numbers that we saw in the top of the hour. susan has been looking at the numbers, the movers for us. start with spotify, please. susan: the music streamer launching a podcast subscription platform to challenge apple which was announced last week. the platform will launch in other regions they say across the u.s. and across the world in the coming months. no commissions for two years. then they will only charge 5% starting in 2023. that might be what is pressuring the stock today. microvision. this is new reddit wall street bet favorite. the hot company being discussed
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in the investor forum, the stock up almost 50% on the week, giving back a little bit, a lot of that today. ibm, big blue raising the quarterly dividend for the 26th consecutive year. we're getting a buck 64 each own any big blue stock you own. doordash, restaurants can now choose from a commission range from 15% to 30%, then you will get different marketing levels depending how much you pay. that is different from the flat 30% fee, dash, other food deliverers were charging duke the pandemic which restaurants bulked at that was unfair, too high? now they have their choice. stuart: i don't know much about doordash but i do know a lot about twitter, dave portnoy, elon musk, they're all mixed up i believe in a twitter spat. i think, susan, the only one here can do the story. susan: you will tell me who you think won this is spat over bitcoin. they're both crypto evangelist.
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they made $100 million plus profit so they booked that on the bottom line. dave portnoy reacted to the news, elon musk buys bitcoin, pumps and dumps when he made a fortune. musk said i have not sold any of my bitcoin. tesla sold 10% of its holdings to improve liquidity of bitcoin as alternative. holding cash on the balance sheet. that means tesla sold $150 million. they still hold $1.3 billion worth of bitcoin. i didn't know. the market was surprised elon musk personally owns bitcoin himself. probably some dogecoin. you have to put your money where your mouth is. tesla, quality of profit was drag on the stock today and questions, most of profit came from selling green credits to other companies actually than selling cars. stuart: yeah. that is not a good thing. if you make more money selling green credits than you do selling cars, you're quite right
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the quality of profit is not there that is reflected in the stock. it is down nearly 4% today, just above 700 bucks a share. all right, going to change subject again. we do that a lot on this program. dr. fauci, changing his tune again, this time wearing masks outdoors. roll tape. >> when you are indoors, make sure you have a mask. when you are outdoors, keep the mask on. i think it is pretty common sense now that outdoors risk is really, really quite low. stuart: brian kilmeade is no big fan of dr. fauci and he is on the show very shortly. we'll have that coming up for you. plus bill gates predicting when things will be completely back to normal. we'll tell you what his date is for back to normal. the ratings are in for the oscars. historic low. people may be tired of get lectured by the woke elite. that is the way i see it. let's ask jo concha.
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he will take them on. you're looking at right now, hollywood boulevard, courtesy of earth cam. that is los angeles. ♪. [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over,
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♪. stuart: check those markets, all red, not a huge loss by any means but red across the board. microsoft and google they will report after the closing bell this afternoon just after 4:00 eastern time. walking up to those results you see small losses to both stocks but they're pretty close to their all-time highs. interesting story developing here, rather sad, home care facilities struggling to fill
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positions. unemployment aid pays staffers more money to stay home. bad news. grady trimble joins us from a home health care business in illinois. are they turning down clients because they don't have enough workers? reporter: they're thinking about it, they basically stopped marketing to find new clients because they're having a heck of a time hiring, stuart. i'm with the owner who can tell us more about the situation, allison. you're not getting number of, number of interviews coming in as you used to? >> no, we aren't. prepandemic, we would normally be able to schedule about six tin interviews a day. now we're lucky to schedule five a week. reporter: what do you think of the reason for that is? part of it is enhanced unemployment benefits and stimulus? >> appears to be. appears to be. hard for me to say exactly what
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the reason is but it sure does appear to be the extra help that is out there. reporter: you were mentioning the pay scale. people are asking more than the general market rate which is a challenge for any business owner. >> absolutely and, that rate has gone up. we've already increased our rates for our, for our employees as well as for our clients. and yet the applicants coming in are asking for more than what the high-end of our rate was before the pandemic. reporter: so what is the solution? how do we get past this for businesses like you, and we heard the same type of things from others? >> i wish i had the answers. i wish i did, i would make a gazillion dollars. for now we hone our skills recruiting, finding better ways to go through the interview process and increase the different kind of benefits we do provide, get more creative.
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reporter: we've been hearing this, like i said, stuart, from a lot of different business owners. this is one of the industries impacted by it. stuart: tough situation, grady, right there. thanks so much, grady trimble. over 200 employees at simon & schuster have signed a petition to stop the publisher from publishing authors from the trump administration. joe concha is with us this morning. joe, i talked to bill mcgurn, "wall street journal" guy just a few moments ago he agreed, woke employees are actually running these companies, they're not just employees, they're now telling the employer what to do. that is an impossible situation, joe. >> they're activists, stuart, right, at this point? if i were running simon & schuster. here is what i would tell the employees. i wrote it down, because i'm so proud. i appreciate your feedback, everyone is entitled to your opinion, not send the administration voted on by
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74 million people in a recent presidential election. we will let the market decide whether these books want to be purchased or not, right? that is the way these things are supposed to operate. and look if you don't like, go to your linkedin page find another publisher to work for if you have a problem with it. this is pure censorship. simon & schuster employees are emboldened by "the new york times," for instance, what happened there with folks in that newsroom. remember, senator tom cotton writes an op-ed we should use the national guard when riots get out of control. and the editor of that piece actually was forced to resign. his name is james bennett. only won a pulitzer because woke newsroom employees said this cannot stand. "teen vogue, stuart, alexi was coming in as editor-in-chief, she wrote tweets when she was getting a driver's license when she was teenager, the woke mob started a petition. she wasn't hired. this is happening at company of
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a company. simon & schuster needs to put their foot down, sorry, we appreciate your opinion but this is how we do business, more speech is better than less speech, stuart. stuart: is there any connection between what's going on at some of these corporations with the woke employees in revolt, any connection between that and what happened at the oscars? the oscars plummeted to the lowest rating in history, less than 10 million viewers tuned in. is there a connection, woke america and the corporation and the oscars being dull as ditch water? >> dull as ditch water. it was a steaming pile after hot mess and a dumpster fire it was so boring. anthony hopkins when he wins best actor was not there to do a speech. he was asleep in wales. i'm sure you appreciate that story according to his agent. nate 199,857,000,000 people watched. four years ago, 47 people
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watched. 47 million people not watching the oscars compared to '98. 30 million compared to 2014. why is that? people don't like being lectured to in piest, elitist way at the oscars like they were on sunday morning. they're rejecting it obviously, they want to be entertained. they want to talk about movies. they want escapism. see it with sports. nba finals last year, lebron james, wokest of woke players, los angeles lakers, biggest franchise in the league, only 5.6 million people watched them clinch their championship. back in 1998 jordan won 6th championship at utah, 37 million. 30 million gone. why? we can't escape watching our sports, watching entertainment, watching late night comedy. it knit comedy, because it is cnn meets c-span when you watch colbert and seth meyers. americans are rejecting the woke culture, piously lectured to, stuart. stuart: thanks for bringing
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those numbers and that viewpoint, joe. very important stuff, relevant to what is going on in america today. mr. concha, you're all right. >> thank you, stuart. stuart: now this. kansas city chiefs player will be paid only in bitcoin. not dollars, bitcoin. he is here on the show. going to ask him about that. first though, bars and restaurants that have been shut down for a year trying to come back. jon taffer is helping them come back. let's see how he does that. he is on the show next.
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an aarp medicare supplement plan. take charge of your health care today. just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. ♪. stuart: now we're walking up to these big tech earnings. they start this afternoon after the closing bell. we're walking up to those very important earnings and before we get there you don't see that much price action on wall street. yeah, we're down for the dow, down for the nasdaq,down for the s&p but they're not huge losses. have a look at beyond meat. they are launching the latest version of their meat-free burgers coming to grocery stores. latest version next week. they will be in restaurants by june. not much change for the market.
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132 is your price for beyond meat. want to see some real price movement? look at ups. their daily package delivery up 14%. that's a big jump. they're up 11%, that is the stock. fedex, which is rival to ups also gaining ground on the strength of ups' news. fedex is up 5%. the delivery folks doing well today. restaurants across the country trying to reopen. states lifting restrictions. more people are getting vaccinated. you know we ought to bring in jon taffer, the guy who runs "bar rescue," great stuff to have him back. first picture, first of all, jon, do you think we'll be back to normal in the restaurant and bar business by summer? >> i do, stuart. if, big if, we can get employees. the fact of the matter is, the enhanced unemployment is causing the same problem you just talked about in the health care industry. we can't get our employees back,
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stuart, it's a crisis for us. i'm here in las vegas. huge signs in front of the casinos don't have promotions for entertainers. it says help wanted. stuart: it is that bad? >> it is. stuart: i think some people would stay at home, make more money at home. i didn't realize it was that bad. i want to talk to you about the new season of "bar rescue." comes out in may. all about saving bars shut down by covid. share our audience a brief clip. roll it, please. >> there is something special here and you know what? vegas is that way. we're tight as a community, aren't we? >> yes, sir. >> you guys emulate it. did you see starting to be people on the strip? did you guys notice it the past week or 10 days? is there a better time to remodel, reopen with new energy than really right now? stuart: you're 2018. i mean you are really good on television. you have energy.
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the obvious question, how do you rescue a bar that has been closed for a year? >> difficult, stuart. first we have to get the employees back. owners have been devastated, for example, stuart, i have an episode with a family lost their house three days before we showed up. four young boys, below teenagers are sleeping on a wooden floor above the restaurant. the level of devastation this year this, has destroyed families, who have lost homes. we have employees who lost their cars. they're carpooling each other because they have lost their cars. so the suffering, the impact on people is far past their business now. it is really impacting their personal lives. this season of "bar rescue" is very emotional, stuart. the stories are unbelievable what people have gone through this year due to covid, government restrictions, and now, struggling to get our employees back. stuart: well how do you get them back to where they were before the pandemic, before the
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lockdowns? i mean, they, surely they need money to do that, don't they? >> well they do. the restaurant relief package has been very helpful, stuart. we're getting dollars out. it is helping restaurants repay debt, landlord debt. mortgage debt. giving them dollars for inventory, things like that. the customers are coming back. in vegas they're starting to see activity. new york city, stuart, three weeks ago went up 60% in one week in credit card activity in the restaurant business. the customers are coming back. if we don't have employees we can't serve the customers. now we're dealing with that, rather than the dollar situation. stuart: i didn't realize it was so bad. we've had these reporting from all across the country. >> it is. stuart: we had reports and tough to get your employees back again. i didn't realize it was crisis level. >> it is. stuart: remember, jon, the payments keep going through september the 15th. you will not probably get any
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relief in the short term, right? last word to you. >> this is a crisis. this is the time for government to get out of the way. we all want to come back. we want to go to work. this is a chance for government to got out of the way to let us do it. stuart: it will not happen. because they're buying votes with our money. that is my point of view, jon. >> i agree, stuart. stuart: good luck with the show, jon. you're great on tv. we'll see you again soon. got it. president biden expected to sign a executive order to raise minimum wage for federal contractors. ashley webster joins us midway through the show. how much do they propose new federal contract for minimum wage. ashley: good morning, stu. $15 an hour for federal contractors by march of next year. by the way that represents a 37% raise for contractors making the current rate of 10.95. it represents more than double the regular federal minimum wage
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of 7.25 an hour. republicans, centrist democrats if there is such a thing these days says 15 bucks is too much. although the federal government, yes, is footing the bill, those costs as we know will be passed on to taxpayers or added to the deficit but an executive order for 15 bucks an hour is expected, stu. stuart: one more for you, ash. we're going to get some new mask guidance later on today. have you any idea what that guidance may be? >> yeah, the new guidance is expected to ease recommendations that americans wear masks, even outdoors. the new advice reportedly still being finalized ahead of a speech from the president later today. that is expected to address where the country exactly stands right now in the fight against the pandemic. but with millions of americans being fully vaccinated, more experts are arguing that a shift in messaging on masks could help the country get back to normal. do you think? even top medical advisor
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dr. fauci, you played a sound bite of him earlier in the broadcast, he said recently that the risk to a fully vaccinated person wearing a mask outdoors is miniscule, i repeat miniscule. that is from dr. fauci, who changed his tone more than once over the course of this pandemic, stu. stuart: yeah. i will repeat, miniscule. ashley: miniscule. stuart: that is an understatement. i'm not a medical guy. i shouldn't be saying things like that. ashley, you're all right. thank you, sir. it is now official, governor newsom will face a recall election. will it change the direction of california politics? i have my doubts. will we see a republican in office in california statewide? i've got my doubts but i'm going to ask larry elder all of those questions in our next hour. new images reveal smugglers sneaking people and drugs any
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♪. stuart: i like that graphic, biden's border crisis because it is accurate and we've got this for you as well, smugglers sneaking people and drugs into america using trains, trucks anything they can. casey stegall is at the border in texas. he is at laredo as a matter of fact. show this to us. show us what the smugglers are doing. reporter: stuart, first of all non-essential travel as you know has not been in place between the united states and mexico because of the pandemic. may 21st is the first day that that is scheduled to be
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lifted between the two countries and, that is going to no doubt increase the traffic flow coming into the country. air, sea, rail travel, keep in mind has already been permitted. this is only at these land border crossings but look at this video. traffic has never really slowed at the world trade bridge here in laredo where 14,000 commercial vehicles pass through every single day. laredo, the number one port of entry in the country for exports. with volume of traffic, federal agents say, they're seeing a big uptick in the number of migrants found hidden in vehicles and also train railcars bound for the u.s. people crammed in among produce, cars, tucked away in secret locked compartments, often long periods of time and in sweltering heat. >> it is very dangerous to cross illegally, you know across the
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southwest border. the only safe place to cross the border is at a designated port of entry. so if people want to cross, they should present themselves at a designated port of entry. reporter: officials say this is yet another example of how human smugglers have zero regard for the health and safety of those they exploit. it also shows how they're getting more creative with how to move people and how to move drugs here into the homeland. stuart? stuart: we got you. thanks very much indeed. we can see it. got it. have a look at amazon? delivery services are very much in in the news these days and amazon is expanding their delivery service. wait a second, susan, i'm reading the prompter here, and it says they will let drivers into your garage? tell me more about that? susan: looks like all prime members now will get this garage, grocery delivery service, 5,000 cities across the country that is an expansion
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now. this garage delivery service that amazon is offering as part of their key service that allows packages to be delivered in garages, homes, cars, even businesses. now the catch here that you need to buy the additional hardware like that smart garage door opener, so it allows the delivery people to get in. this might not be for everybody. certainly not for me because it gives strangers access to enter into your garage, keeps your groceries packages safer from the weather, theft and damage. walmart is testing grocery delivery by a smart cooler which will be put on your doorstep. now tell me, stu, we talked about this with the palm print, remember, at whole foods, i have problems with palm prints. i have problems with letting people i don't know into my house even if it is just the adjacent garage, you better have the garage door closed and shut between the home and garage, right? stuart: yes. i see how you get entry to the
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garage, that is great convenience, but if you got the door from your garage to your house locked, i think you have a element of security right there. i would go with the convenience of getting into the garage so long as the door is locked into my house. are we straight on this? i think we're in agreement, susan, are we. susan: yeah, i guess. you have to remember to shut that door. yes, you do. i've got a good memory for those things too. susan, back to you shortly. let's bring in ashley on this one because bill gates is predicting when the world will be completely back to normal. tell me when, ashley? ashley: if ever, according to mr. gates by the end of next year. that is when bill gates says the world indeed could be completely back to normal. i'm not sure about that but gates says the virus will not being fully eradicated by then but the numbers he says will be very small, thanks to the
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extensive roll out of covid vaccine. richer countries like the u.s., the uk, will get to high vaccination levels by this summer, freeing up he says more doses for developing countries. makes sense. by the way, so far the bill and melinda gates non-profit foundation has committed more than $1.7 billion to the global covid response. so good for them for that but you know, be interesting to see where we are at the end of next year. i hope he is right. i hope it is sooner than that of course. stuart: i will be back to normal in the next couple weeks and the summer will be fantastic. i'm really going to be back to normal by then, way in advance of mr. gates' prediction. ashley: formal for mr. varney. very good. very good. stuart: sure thing. we have this for you as well. you can't believe this one. a roofing company in wyoming has a special offer, a free ar-15. i think that is a provocative offer, isn't it for customers?
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aren't they worried about liability? maybe. i will certainly ask them. they're on the show. first though, dana white urging sports to focus on the game, not politics. i'm with all the way. watch this. >> when people tune in to watch sports they don't want to hear that crap. they don't want to hear what your opinions are, who you are voting for or what you're doing. stuart: yeah. brian kilmeade is on the show shortly and i'm sure he agrees with dana white. all right, that's it i think. yeah. brian kilmeade is next. ♪. ♪ ♪ ♪
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stuart: oh, 10:51 eastern time. the gentleman on the right-hand side of the screen is brian kilmeade. he is going to join us. i think he just finished with his radio show. he can now hear us. welcome to the show, brian. i will roll the dana white bite one more time, get politic out of sport. roll that tape. >> when people tune in to watch sports they don't want to hear that crap. they don't want to hear what your opinions are, who you are voting for, what you're doing. they want to get away from everything in their life and they want to focus on, two, three, four hours, however long
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the sport is. throughout the pandemic when you tuned in to ucf we never talked about politics. stuart: brian you and i talked about this a couple years, getting politics out of sport. it is not out of sport. it is still right in the middle of the sport. people like me, sports fans, we're getting hit, we're not so keen on watching these shows any longer. i don't think it is going to change. >> a couple of things. we're watching the kneeling during the national anthem. we're watching the no-shows because of something traumatic in minneapolis. people are not going to the games. we're watching kyrie irving disappear. players on the yankees. hicks decides not to show up forehis game because of verdict, here, there, shooting that took place. you're watching over and over again black lives matter on the court. i think the big difference between the '60s, when you have jim brown travel down south, stuart, you were in england at time, he is with
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syracuse football, say black players in one hotel, white players in the other, come out and speak about it when they went pro, differences but weren't putting it into the game kareem abdul-jabbar was not bringing it to the game, not showing up when he was with the bucks or with the lakers. they're bringing it to the game. sometimes there were no fans there, but wasn't affected directly. remember last year baseball was in the bubble. certain things were happening in society, they didn't like, they didn't show up. minneapolis canceled the game. what you are doing, telling fans, taking a break, going to the game, telling me society in america not good enough for you, so maybe i will stay away. now look, i understand nba is a big online presence but espn ratings are down 40%. tnt is down 40%. abc is down 20%. don't tell me people are not answers. don't tell me people are not answering the athletes i
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understand you have an opinion, spongessability, we get it. do it separate from the court. if you call a press conference, everybody member of media would show up. don't put it in our face of the game. we want to see if your team is better than the other team. we want to see if you're better than the other guy. can we watch that, separately tell me what you're doing? stuart: absolutely. with you 100% but, we just keep on having this conversation. it doesn't change. i want to divert to dr. fauci. i know you are no big fan of the good doctor, but he is flip-flopping again. this time on wearing masks outdoors. watch this, brian and our audience, roll tape. >> nothing is 100% but it is almost invariable that it is indoors. so when you are indoors make sure you have a mask. when you are outdoors, keep the mask on. i think it is pretty common sense now that outdoor risk is really, really quite low, particularly, i mean if you were
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a vaccinated person, wearing a mask outdoors, i mean obviously the risk is miniscule. stuart: miniscule, thank you very much indeed. can't we just go out without the mask and get on with life? >> yes. and that is what is going to happen. they still want to control you. fauci is winging it half the time. you can tell by the way he winds up. when he doesn't have answer, what we would do had an oral report due if we didn't study. that is what it looks like. a university of chicago study shows staying at home, a year ago they told to us stay at home, stay away, they say that was more dangerous than actually going outside and getting fresh air. it is more dangerous. if we went to the park vaccinated or not we would not get the virus. remember wipe everything down, countertops, spray and antiseptic. doesn't travel through countertops or in department stores, food stores, has anyone apologized for that
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inconvenience and let alone the cost. bring up something else, if we're vaccinated we can't transfer the virus. stuart: right. >> therefore no mask, inside or outside. joe biden, you're alone in a cemetery. you're alone doing a zoom call with world leaders. take off the mask. and the double mask, anthony fauci to speak to the senators much of which are not in person. don't ask me why i'm not getting vaccinated. do that. stuart: i will have a rip-roaring summer, get out and enjoy life like any other person in america. >> pictures on facebook. stuart: sandra smith, mike murphy, larry elder, many more on the show in the 11:00 hour coming up for you
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>> the big blue states have high unemployment, red states have low unemployment. >> nasdaq has been dormant the last 2 or 3 months, kicking in year. amazon hasn't moved in 9 months. if it breaks out on earnings. >> we have a nice bounce back back up to almost normal maybe even up to normal. very large increase in gdp. >> should have fantastic and took the expectations of gdp
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because we are reopening. i have a dirty little speakers, record unemployment. open up the economy. ♪♪ i keep you in the my dirty little secret ♪♪ my secret ♪♪ stuart: a little secret, open up the economy. 11:00 eastern time tuesday april 2, '06, slight downside move across the board, dow, s&p, nasdaq slightly lower. show me big tech, the big tech earnings parade begins of this afternoon with google and microsoft. in advance of the official numbers a slight pull back from microsoft, apple and alphabet, slight move up for amazon and facebook. mixed picture at this moment will change before you see the initial numbers. texas gains two congressional seat, florida gains one, north carolina gains one.
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new york, illinois, ohio, pennsylvania, all lose one congressional seat. why did they lose? texas, florida and north carolina gain, obviously because people are moving but why are they moving? here's where we get into politics and the answer is just as obvious, the states that are gaining people, run largely by republicans. the losers by democrats. republicans go for growth and job creation. that is what they think progress is. they are offering opportunity. americans respond, they move. democrats remind me of europe, big government, lots of rules and regulations and high taxes. people with energy and drive tends to move away from that.
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talented people don't care to be re-strained. when you look at the population shift it is clear people are voting with their feet. they want growth and opportunity and warm weather doesn't hurt. isn't it ironic that at this very moment the biden administration is doing its best to make america more like europe? unfortunately we can't move to a different state to avoid biden's big government but we can vote and not just with our feet. the third hour of "varney and company" is just getting started. look who's here. just getting a touch of makeup, the very last moment, sandra, you are with us, there you go. all preparations complete. >> rock and roll. it gives that a certain spark.
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absolutely live, the audience appreciates that. >> always ready for you. stuart: we will get some mask guidance, hope they open up and let us enjoy their lives because that is where the science is pointing, right? >> stuart: we are trying to enjoy our lives even through the pandemic, hard and challenging and common sense is being thrown around, so many of us understand how this virus spreads and do our best to limit that happening and when it comes to outside guidance many of the doctors we talked to on the fox news channel including doctor nicole saphier say the cdc following rather than leading, they are behind in making a decision. of course we all try to do our best but when you look at
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people who are outside and not around anybody in the guidance is still to be wearing a mask one has to ask is the cdc staying up-to-date on this guidance? we have somehow got back to living our lives and perhaps this is one sign that doctor fauci is starting to listen, people are frustrated the cdc doesn't understand we need to get back to living our lives. stuart: very much so, i am with you on that one. i'm going to run some shocking video and when i say shocking i think it is shocking. new york city detective attacked in broad daylight, you see that, this is new york city broad daylight in the middle of manhattan, he was investigating another crime when this man just walked up and attacked him. how are we going to get people to come back to our cities when you have stuff like this going on in broad daylight on video, how do you get people to come back to the cities when this is going on?
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>> absolutely brutal video to watch and for so many who have returned to the city. i've been back in studio since july we have seen the city quickly and decline. the violence, homicide rate is way up, brutal to continue to watch that. he had no idea what was coming. you walk down the streets of the city and you are terrified, you have a spike in crime and at the same time a record number of police men and women leaving the force. i talked to one of the heads of the big police unions talking about morale at an all-time low in this country. you talk about decree democratic calls to defund the police when we have a spike in crime and some of our beloved american cities you've got to wonder what happens next and what is the breaking point and when to be hit rock bottom, we start to address this problem from the ground up? stuart: we are not there yet. we are not addressing this problem.
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we are walking away from it and that video showed. thank you for being with us. i would like to be more positive but that video is awful. we will be watching you. 1:00 to 3:00 pm eastern time weekdays, america reports. let's get to -- check out jpmorgan. this story has nothing to do with the stock price. jpmorgan chase bringing back all us employees on a rotational basis and this starts in july. mike murphy with us this morning. we will introduce you to our 11:00 audience. you are normally with us at 9:00 in the morning, welcome to the 11:00 hour. i want to talk about bringing people back to the office buildings of new york and other big cities. at the moment they are largely empty but people don't feel safe either from crime or from the pandemic or from the virus. do you see these buildings being filled up again anytime soon?
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>> i'm going to be my usual positive self and say yes. i am speaking from the gm building in midtown manhattan and we are at roughly 10% capacity, very few companies in this building but i hear they are all coming back, i suspect they will be coming back and if you are running a business it doesn't work long-term to have your workers working from home and not being focused on their job. there's a reason we have offices, to get together and try to accomplish a common goal for the company. i prefer my employees to be in the office when it is safe which it is, we are all vaccinated and when the streets are safe. new york city is coming back and i think you will see a big resurgence and office buildings filled i will say this year. stuart: i do hope you are right. i would love to see this great city come back and i hope you are right about your prediction that the dow industrials will
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reach 40,000 this year. murphy says 40,000 on the dow this year. it is april. a few months left. make your case why such an enormous rally on top of the one we already have? >> to be fair this started in january when the dow was at 30,000, if you keep going we will get 40,000 this year. we are on track and i think we are will going to get there. when you look at the dow 30 components, names like boeing when you think of big airplanes but so many companies, look at jpmorgan, these are technology companies so one thing, one positive that comes out of this horrible pandemic we have lived through his a lot of technological advances have been pulled forward so companies were forced to apply more technology to their
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everyday businesses. that is going to come to the bottom line and we will see much earnings reports, starting from big tech, the s&p 500 for that matter, stick with the market, stick with what is working and i will be back with balloons and confetti when we cross 40,000. stuart: if we get a big doubling in the capital gains tax rate for rich people does that interfere with your 40,000 dow prediction. >> it does, you don't want anything crazy on the tax front because that will hurt individual investors. it is not good. stuart: mike murphy, welcome to the 11:00 hour and thanks for being with us today. back to the markets, read across the board but they are not huge losses. susan has been watching. verizon.
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>> if you have a just told it, don't buy anymore. ticket price is $57 which is pretty much where we are and the concern is mobile subscribers cutting the cord. haven't talked about ge but they did come out with some disappointing results, losing money in the first quarter of this year, lower sales but they say aviation will be key to making money once again. game stop raising cash at half $1 billion by selling stock. may be they should have done it earlier when stock was trading at $500, but wall street says we will take it and they will use this to improve customer service and continued transitioning to online and finally the shoemaker they call the itch shoemaker, earnings were fantastic and they are gunning for sales growth of 50% this year. how many companies can say that but the weird looking sandalmaker getting a boost from celebrities with justin biebers of the world, there they are and a popular wrapper selling out in minutes.
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can you believe it? stuart: weird looking sandalmakers is how you describe them. might get an email on that. >> if i get up there i would sell it online to make a profit on it. stuart: you are a smart woman. thanks. let's talk walmart, just started a legal battle with rapper kanye west, they say he is copying their logo. we have details. california's governor newsom will face a recall vote. california politics are shifting. i don't think they are shifting enough to get a republican governor to replace newsom but i will ask larry elder about it. chiefs tight end becomes the first nfl player to convert his entire salary to bitcoin. i want to know what that means for his taxes, on the show next. ♪♪ we will we will rock you
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i want to know, you realize by doing this you become a holder, an investor in bitcoin and the value of your salary can go up and down. you are really taking a chance here, aren't you? >> obviously bitcoin is volatile. for me, my level of conviction, i'm okay with volatility. i look at the big picture. stuart: do you make this decision entirely alone or speak to any kind of the financial advisor or your agent? >> my agent, where we are having this process, an individual who says i can't do that or highlight it, the downside and the risk associated with this but they
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saw my level of conviction and it was a personal decision. stuart: what happens at the beginning of next year when you've got to pay your taxes. are you going to pay your taxes in bitcoin or exchange-rate value are you going to pay taxes? i am totally confused. i don't know about you? >> there is a little confusion and i try to make clear into what i wanted to make, they wanted to make it clear we are paying you in usd to make that known but understand we are converting it to bitcoin so receiving it for tax purposes it is similar to any other situation, taxes will be taken out, instantaneously converting to bitcoin.
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stuart: are you using bitcoin only? would you get into dogecoin? >> it is a recent conflict with crypto. for me bitcoin only. that is something that makes it attractive to be, security and scarcity is why i am choosing it. it is i look at it as entertainment, makes other regional investors and individuals begin to understand crypto and it is like the gateway to explore another crypto currency's. stuart: you are one of the best known bitcoin investors, you are taking a big gamble but putting your money, putting your bitcoin where your mouth is and i wish you the best of luck.
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thank you. that is taking a risk. listen to what mark cuban has to say about dogecoin. >> if you spent 5, 10, $15 that is a better investment than a lottery ticket. if it doesn't go up and you want to spend it you can buy merchandise automatic store, also becoming a digital currency which is crazy if you think back towards origin. stuart: in a tweet cuban says the mavericks are on track to do 6000 doge transactions, the team accepted dogecoin or tickets and merchandise, taking a risk. walmart launched a legal battle with rapper kanye west. what is the problem?
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ashley: walmart says kanye west's new logo described in patent paperwork has raised from a son, too similar to its son logo that has been around for 13 years as walmart says it should be blocked. the entertainer file the patent last year but last week walmart filed an objection. you can see west's design consists of eight lines late of three dots each, bird from a circle to form this. walmart says it looks like retailers logo except walmart's son raise are made of lines instead of dots. walmart claims the mark will create, quote, confusion and a false suggestion of a connection. we will see if that turns out. stuart: bring in the lawyers. a rock star launching a drive in concert. who is it?
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ashley: bon jovi fans around the world will see a concert when the band stays at home. ♪♪ it's my life ♪♪ now or never ♪♪ i ain't going to live forever ♪♪ ashley: it is his life, never before seen concert at venues around the world including 300 outdoor theaters across the us, canada, ireland and select indoor cinemas around the world. and blake shelton. it is a success in the pandemic so much so and opposed covid world. people like that idea. stuart: i could see it.
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with your fellow fans, in this economy. it is not the real thing. stuart: no such thing as a beatles market. i would love to. we've got to move on. 500,000 people left california in the last few years. we have a report on it here. what do you think of teaching critical race theory in our classrooms to young children? my next guest didn't like it, spoke out and tell us what happened after she did that. she is here next.
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stuart: i thought i heard rule brittania in the background. and where is that? where is that? lynchburg, virginia, looks nice. parents across the country pushing back against critical race theory that is being taught to young children. one of those parents is the co-president of an education advocacy group in new york city. let's start with this. what is your problem with critical race theory? >> critical race theory is a huge problem we are seeing in education and private schools, drastic upheaval to admit schools in new york state as well as places around the
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country, because student body of these schools are not representative of local population, blunt and racist way of looking at the problem. stuart: are we looking at children in terms of the color of their skin rather than their educational ability, skin color is the main problem here? >> it is absolutely skin, by race, gender, sexual identification and these are not things we should be looking at. we need to treat kids as individuals, celebrate and challenge students who will become the leaders in our global economy. our education in the united states has been falling behind in this woke curriculum will only make it worse. >> what was the reaction when you spoke out against this?
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>> new york city, relatively liberal city makes it difficult for parents who disagree with what is more popular. i witnessed at public for rooms, by calling them racist. even worse people who speak up are getting canceled. the so-called activists called employers to get people fired but it is an attempt to ruin people's lives over this woke curriculum. stuart: you said a new york post article that critical race theory has ruined lives, can you give me an example? >> as i said people who disagree with the approach to accelerate education are trying
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to label us as segregationists and racist, couldn't be farther from the truth. most parents i know are first-generation immigrants that have multi generational new yorkers that prize public education as a way of getting out of poverty, it is a terrible way of looking at things. we are standing up, formed organizations like a place to do that and i'm the cochair of the chapter affair that stands for the foundation for intolerance and racism is a resource for anyone who wants to speak up. stuart: please address us again. want to know what progress you are making with this because i'm very much on your side. hope to see you again.
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there is a related note here that virginia's affirmative education wants to reshape the way math is taught in public schools in the name of equity. jillian turner has the story. this eliminates some math courses, which courses are eliminated here? >> what is happening is the virginia department of education is overhauling the statewide math curriculum in order to achieve what they are calling equity. it will keep algebra one and algebra 2 as part of the standard curriculum but will refer to them as central concepts and geometry, calculus as a requirement and only offer them to high schoolers as an advanced course for eleventh and twelfth grade students. fox news has spoken with virginia high schoolers, the new proposal will hurt them and their friends for years.
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the freshman on track to take calculus before eleventh grade tells us this. >> i'm at a spot right now that i can take risks. >> her older sister hannah, taking pre-cal about her status. >> i am a competitive edge in the workplace and going into college because i fulfilled requirements so looking at classes for higher education. >> the students share their parents fears the fox news is talking to them this week about the repercussions of this program could dramatically affect the next generation by making them less competitive in the job market in the us and overseas. one thing worth noting the virginia education department appears to be quite rattled by the outcry from parents and educators and the media.
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they are obviously trying to backtrack. it has been completely reformatted overnight, to downplay emphasis on equity-based education after initially making it was the centerpiece of the program so maybe there is progress. stuart: i sincerely hope so, a great story, appreciate it. a related note, alaska airlines unveiled a commitment to celebrate diversity. alaska has a partnership with the united negro college fund which support students at historically black colleges and universities, there is the diversity plane. alaska airlines and rental car companies on screen for you. prices of rental cars have been soaring because we are coming out of the pandemic, they are getting created with these high rental prices.
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ashley: the situation is so dire with some arriving in honolulu, they are opting to rent a u-haul truck to see paradise. find a rental car is almost impossible these days and when you do you can say aloha to your cash, the cheapest rental car in maui last month cost $722 a day. of course tourists driving around hawaii in u-haul trucks, there's a chronic shortage of trucks for people who want to move in hawaii but a lot of these rental companies sold a third of them during the pandemic trying to offset the cost of not doing business but now people are coming back, not enough cars to go around is a lovely u-haul truck as you look at the paradise of hawaii. stuart: give me a u-haul rather
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than $720 a day. i will take it. ashley, you are all right. next case, there is a whole lot of satellites going up including this one. >> 2, one. stuart: that is a military satellite headed into orbit, more on that mission, what is it all about? listen to this. a wyoming roofing company offering a free ar 15 with their free roof installation. i call that provocative. are they worried about liability. they are on the show. ♪♪
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i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine
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proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis and is not for treating symptos unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of te arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you
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stuart: now the story we've been promising the last 3 hours. everything company in wyoming offering a free ar 15 rifle with every roof installation purchase. matt thomas is with when begins construction which is making this offer. anyone taking you up on the offer? >> we have. contracted out the last couple days everything started happening 25 to 30 signed contract and we're in the process of bidding 75 to 80 more roofs, so business is
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picking up. stuart: are you concerned about liability, if you make an offer you give out an ar 15, somebody uses it and somebody gets hurt are you liable? >> we've been in contact with our attorney about this. we are following every single law in the state of wyoming. technically according to wyoming state law i don't have to do this work, i can handle the gun and walk away but talking to attorney and few other people we will use the f f l process to have that properly transferred with background checks to the customers so everything we are doing is above par, it is legal and i'm not concerned about liability. stuart: it is provocative. at any time, it is provocative given the times in which we live.
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any backlash against you? >>\is the understatement of the century. i probably got on my personal phone about 300 missed phone calls in the last two days, hundreds of emails i have yet to respond to and respond to every one. i will say 95% of the feedback we got from across the country and the world including the uk has been positive. it has been good for you, way to support the second amendment, i've seen a few death threats, stuff like that, not really concerned about that, these are wackos that don't live in wyoming, making calls to these threats but we are standing by our guns no pun
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intended and taking the second amendment rights we have as a country and giving free guns to anyone as long as you are 21 and not a felon. stuart: we have a second amendment and you are practicing it. matt thomas, thanks for joining us, appreciate it. back to the markets, pretty much read across the board as we are walking up to the big earnings reports from big technology companies, starts this afternoon at 4:00, microsoft and google. amazon expanding the service that allows delivery drivers drop off packages inside your garage. the service is available to 5000 in 5000 cities and towns, amazon stock $3,400 to wear. spotify, showing them because a
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new platform for people who make products or podcasts just launched by spotify one day after apple debuted a similar service, spotify doesn't plan to make money off of these podcasts for two years. apple is dead flat. california's governor newsom will face a recall vote this year so who will replace him? a republican? larry elder has got an opinion on that and will share it. california will lose a congressional seat. after hundreds of thousands of people moved out of the state. another mass exodus could be on the horizon. we have that story too. that came from me. really. my first idea was “in one quarter of an hour, your savings will tower... over you. figuratively speaking."
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many more people will be packing their bags and leaving? >> remember the movie ghostbusters? people see the stay puffed marshmallow man and running like crazy? we are seeing the effects of the higher taxes, people moving one state to another, talk about california, when you add an increased capital gains tax 50% of state at ons in california and new york, the job creators will look to move. the wealthy taxpayers looking at an increase on the additional increase of crime and emboldens criminals that can accelerate the exodus. on monday, a detective was investigating another crime and the man hit him with a stick in broad daily on camera in new york. many of the highest wage earners who pay the most taxes in new york are saying enough is enough and researchers believe the rising capital gain will accelerate that move.
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>> raising the capital gains rate to raise less money from capital gains tax in the future than we are now because we are raising the rate, that is a nonsensical policy but that is the type of policy we get when you talk in relative terms about fair tax. it is not an economic concern. >> census data reflects this move from high-stakes to lower states, new york and illinois losing congressional seats, anything else? stuart: we hear you. governor newsom will face a recall vote. larry elder with us right now. do you think this recall marks
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a genuine turning point in california politics. >> i hope so but full disclosure, approached by serious people to consider running and it has gone from hell no to know. as far as in the state it is an absolute mess. finances are in the toilet, unfunded pension liability, $30 billion scandal regarding unemployment benefits fraudulently paid out, k-12 education, 70% of black kids cannot read, 80% of hispanics and math scores even worse, talking about illegal immigration, healthcare, the massive shutdown the governor ordered that put a bunch of people out of work, a lot of people quite angry and my hope is they are not just angry about the mandates, the left-wing policies of this governor. i hope that is the case. stuart: what will convince you to run?
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>> i have been praying over it, feel like i have a big platform i worked hard to make. don't want to dissipate that or lose it. 45% of people hate their guts which is the same who do now. i'm not sure it is going to work. the last time the governor was less popular than this one and the reason for the anger was the car tax which was on the books during the election. the egg that precipitated the recall, the coronavirus mandates being gradually lifted, the state is getting back to employment so the anger has gone away and i'm not sure this man is going to be recall. the election will take place, the vote will take place but i'm not sure he will be recalled for all the reasons i mentioned. stuart: that is extraordinary.
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you better come back soon and keep us in touch with what is going on because we are losing track out here. think about running, think long and hard. >> we've got a state to save. stuart: yes you do. thanks, we will see you soon. staying in california a new satellite just launched. watch this. >> 2, one, and lift off of united launch alliance delta iv heavy rocket. stuart: vandenberg air force base just north of los angeles was we know it was a spy satellite, that is it. the rest of the mission top government secret but we thought we might like to show you the satellite lift off. quickly tuesday is a question. who is the only woman to be featured on paper us money?
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the answer coming up next. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. it's so busted, you can't use this part of the screen. definitely cracked every phone i've owned. (vo) you broke your phone. so verizon broke the rules. for the first time ever, new and current customers can trade in their old and damaged phones for up to $800 off our best 5g phones.
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so... please come back. how hard is your business software working for you? with paycom, employees enter and manage their own hr data in one easy-to-use software. visit paycom.com for a free demo. hon? first off, we love each other... >> we asked before the break who is the only woman to be featured on paper u.s. money. the answer is martha washington. i did not know that answer. her portrait was on the front of the one dollar silver certificate printed in 1886 and 1891. there you have it. i didn't know the answer but that is the answer. check the markets please.
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the s&p is turning around. fractional loss for the dow and also for the nasdaq. the big deal is walking up to the big tech earnings, microsoft and google. that is at four this afternoon. we'll be covering it right here on the fox business network. got that? my time's up. neil, it's yours. neil: thank you, stuart, very, very much. don't forget apple tomorrow too. that is continuing what will be a blitz of the tech earnings. right, stuart, we'll watch those very closely. they could reflect the appetite of the american consumer. welcome, everybody, i am neil cavuto. you're watching "coast to coast." my thanks for professor brian brenberg for subbing in my absence. always enjoy bringing the good professor. anyway we have this going on right now. the administration close to maybe, maybe signaling we don't have to wear the masks. there are caveats, the idea if you're vaccinated you can
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