>> thanks to being here. have a great day, everybody. see you again tomorrow. "varney and company" begins right now. stuart: good morning, and the bill and melinda gates. and the financial world will do that for financial implications. bill gates still owns 100 million shares of microsoft, it will not have much impact on that stock. just like amazon and jeff bezos, not much impact on the stock.

$70 billion in assets that includes $250 billion of farmland and coownership, there is no change in the control of those assets after the divorce. the bill and melinda gates foundation is another story. they maintain joint control but their interests in the future, there may be interested is in education. their fortune totals $140 billion. we have no idea how that is split, or if they gave it to their foundation and it will hold up. if elizabeth warren's wealth compensation goes through, who knows how much they will end up with. that is the story of the morning.

the dow industrials will open down, so will the s&p and the nasdaq, we have a lot of red ink this tuesday morning. bitcoin falling back to 56,$000 but that's not the crypto action, and dogecoin has hit $0.50, after budweiser tweeted out a beer can with dogecoin on it. seriousness from pfizer. next week they may get the okay to vaccinate people as young as 12 years old. that would be a big plus for back to school in person learning this fall. stock has gone up to $40 a share. we have a show for you. mitch mcconnell says not a single gop senator will support the infrastructure plan. that is push back. the new york times runs an

op-ed titled biden's plan promises permanent decline. that is how brett stevens sees america's future if you go through with the social spending and for once i agree with the new york times. big day indeed, stuart: a cloudy day, new york city, not too good but let's check futures, some red ink across the board. thousand 150, nasdaq down 100. luke loyd, market watcher tuesday morning. forgive me for getting into the

bill and melinda gates foundation, not seeing much impact on microsoft stock from this divorce. >> microsoft will crush their earnings, they have the biggest revenue growth since 2018, microsoft is one of those companies you want to own and trade, that continues to outperform and blow away consensus expectation, crowd storages the present and future and they are number one in the crowd. and let that one be. think about the future. stuart: seems to me big tech is on applause. especially google and amazon, i've got that but the market is positive when we have a rocketship economy and astonishing profits.

is there a disconnect between profits and the economy at the moment? >> there is. a year ago, a difference between the stock market and the economy, the economy is better but the stock market is not showing that. a long-term perspective, think about the future, don't want to miss the changes over the next few days. think about the internet 2 or 3 decades ago, no one knew where it would be in the 90s, how one of the local store owners in the 80s total one megabyte of storage is all you ever need. one small picture file now, things are going to exist that cannot be fathoms right now. and innovation creates opportunities. by the innovators and winners and tech.

i would rather own microsoft any day of the week. i'm afraid we have to get to the bill and melinda gates divorce, carly shimkus, what happens to the billions of dollars and assets. >> there divorce is the largest division of assets and amazon's ceo jeff bezos split from his wife in 2019, the stunning news came in the form of tweet over the last 25 years, three incredible children and built a foundation that works all over the world to enable all people to lead healthy productive lives. we share a belief in that mission and will continue to work together at the foundation, but no longer believe we can grow together in the next phase of our lives.

the cofounder of microsoft, the fourth richest person in the world, worth a whopping $24 billion according to forbes, they do not have a prenup in place leading to speculation how they will split up their stuff. gates is the largest owner of farmland with 242,000 acres across 19 states, they own a string of mansions including their main home in washington state worth an estimated $130 million and then there are the private jets and a manuscript written by leonardo da vinci, gates paid $30 million for. one of the law firms bill gates hired to help them navigate the situation was founded by warren buffett's right-hand man charles monger and big questions about the future o the bill and melinda gates foundation considered one of the largest private charities

in the world. their marriage is over, they will continue to run the foundation together, a massive endowment of $50 billion so we are talking big bucks here. >> we got that right, big big bucks. thanks for joining us. come on in and let me say good morning to you. what is your big take away on this divorce. >> bill gates at the way from the ceo position. and a few years after that, if you look at the individual ownership bill gates is not the single largest one given away most of his money, so the largest singer shareholder is steve palmer and microsoft, and the business itself, and philanthropy, and are giving pledge, signed up billionaires around the world the friends

and families flushing away half their wealth. what happens with this breakup? is there a loyalty conversation? there are a lot more questions what they do together than actual ownership. >> absolutely right because although the couple says they stay in joint control of the foundation who knows what happens in the future? their interests may diverge on policy and areas for help, education and health and diverge on that with huge implications for how the money is spent and who gives them the money in the first place. >> and what happens in the future, find some common ground to try to figure out which takes priority, the charities we give to. stuart: who knows, those are unanswered questions but the

amount of money and prestige and clout that is involved here. >> do you notice the single divorces of jeff bezos, amazon and bill gates taking place in washington state which is one of the states that has no state income tax. stuart: i wonder if that is coincidence or happenstance or serendipity. >> we will cover this throughout the 3 hours of the show. and if era m -- >> there it is up 300%, and we are trending above 3400. it is outperforming bitcoin so far this year.

it includes a booming nft market, tradeable arts and the crypto choice when it comes to financial services the with bullish predictions, 10,000 the coin, 4100, the thought and thinking is only up from a year. stuart: will talk about doge to the coin who hit $0.50 a coin. president biden thousand the far left quadrupling the refugee to 62,000 for this fiscal year, more next year. that is not it. it paves the way for biden to boost the to 125,000 next year. bernie sanders and aoc run the democrat party.

.holly on the show wrote the book the tierney of big tech so what does he want to do with big tech. he will tell us. he joins us later this hour. liberal school board members in texas tried to push what is called critical race theory, we lost big time. parents fight back and won. ♪♪ experience capability, crafted by lexus.

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not hard to take. texas school board voted to ban critical race theory and cultural competence action plan stopped it being enforced in their classrooms, kicked it out, defeated it in a landslide. sean duffy is with us, father of 9. the more we find out about critical race theory the more a position it faces. the start of a nationwide movement to stop this thing in its tracks. >> our politics truly is local so a lot of people in congress, the federal government is going to do something to save us from critical race theory. the school board, in texas, parents organized, got together and said we don't want to this racism in our schools. we want to -- they want to divide us on race and the idea we should hate america and keep them out of the school system and keep them from indoctrinating our kids and the left is concerned about this

because this is a model of potential success for other school systems to organize in other communities to push back on this leftist ideology. stuart: do you think critical race theory is racist in and of itself? >> yes. to see your white, your oppressor is racist. we usually believe in america, in the thinking model that we should see -- look at the content of someone's character and critical race. trying to divide us all by our race, put us all in silos where we believe we should all be americans and judge each other by our work ethic, a lot of parents, left-leaning parents don't want to this in the school system and this is a purple district become mean

red, joe biden won this area in the last election but 70% of parents voted we don't want to this in our schools and we don't want you to indoctrinate our children, and teacher colleges in america are rotten, they are cancer and turning up activist, to turn our kids into young little activists, parents are stepping up to say we are not going to take it anymore. stuart: the public schools are in crisis at this moment and the president of the american federation of teachers tweeted this. i'm going to quote it for you. many people who saw teachers as glorified babysitters got a reality check this year when schooling had to be done at home. teachers deserve respect and recognition for all the ways they help communities. what has that got to do with getting our kids back to school for in person learning? >> a lot of parents have a lot of respect for teachers, we

love teachers that educate our children. after the pandemic we realized the union doesn't deserve respect because they put their power and control and salaries ahead of our kids when the science that our children could go back to school and get in person education, the teachers unions kept closed and kids at home put our kids further behind so they have it all wrong, they lost a ton of credibility over the course of the pandemic because they are not putting kids first, they are putting kids last, putting their power, their lives ahead of our children and before the pandemic story we thought they really do care about our kids, they care about educating our children. that's not true. they care about themselves, their power and advocacy politically and that has been ripped off. stuart: we are financial show but that issue, the teachers union is front and center in the minds of almost all of our

viewers, good talking to you. >> dogecoin is at 53%. stuart: it is on a beer camp from budweiser, i digress. show me pfizer, $40 a share, strong first-quarter and they raised for your guidance but susan, we understand they will file for full vaccine approval. >> full approval means pfizer, only authorized for emergency use back in december so they are looking for full approval when using the vaccine to 12 to 13-year-olds, the vaccine has been a big moneymaker for pfizer also reporting

$3.5 billion of sales and beat wall street forecasts but targeting 300 million extra vaccine doses by july. if you get full authorization that means more sales and imagine a ramp-up in production. stuart: the stock goes to $40 a share. how about cvs? they reported strong earnings, lots coming into the stores for a vaccine. they raised their outlook for the year, that is always good for the stock, up one.5% at 78. governor cuomo says most restrictions in the tri-state area, new york, new jersey, connecticut will end may 19th, that is the date for that. governor desantis suspending all covid restrictions, he said florida is no longer in a state of emergency. quick check of the big board up 7 minutes to go before we open

trading and we are going to be down across the board. the bidens got to witness how devastating zoom learning has been for our children. watch this. >> really tired -- >> what would you like to say? >> didn't like it. >> you didn't? >> know. stuart: a lot more where that came from. zoom school does not appear to be working. ♪♪ i was born a rambling man ♪♪ doing the best i can ♪♪ wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent

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stuart: futures point self across the board, talk to me about labor shortages all over the country in different industries. hasn't had any impact on the market? i know it had an impact on the economy. what about the market? >> it started to have an impact on the market. the s&p 500 was up 5% in april but i thought it could be up even more than that, there

certainly has been a potential, the treasury continued to inject more and more cash. we are starting to see stimulus, and the vaccines, the cash injected, we are seeing shortages as a result in price pressures as a result. the market, being concerned about the paper tantrum, reversal of concerns. stuart: you appear with us frequently. in the past recently you said this might be melt up situation, could be one extraordinary summer. you've changed a little and looking more cautious. do you think some of us should lighten up a little on the stocks we own?

>> i watch the data, the survey came out yesterday that surprised everybody. instead of moving higher it moved lower but it was down. at the same time the price component, there is evidence that shortages are starting to have an impact and some of these reports have been phenomenal, back markets said okay, big deal so a lot has been discounted and having the market move sideways for a while would be a healthy thing. i've been more concerned about a melt up so moving sideways is a good thing but i can't rule out a differing tantrum in the market if we get a blowout wage number, a lot of anecdotal evidence that wages are starting to take off which is great for workers but concerning in terms of inflation.

stuart: those numbers are important. i can hear them clapping in my ear. shortly we will hear the bell rang, the market is about to open. there you go. the bill is ringing and in 3 seconds they start trading. looking for 100 points on the dow. we are off and running. right from the start we are down 100 points, we've got red for the dow in the first few seconds of business, the s&p 500 in the red, the start of business, down half of one%, the nasdaq is on the downside, almost 0.85%, fairly sharp drop, 175 points. i presume big tech is down across the board, microsoft, apple, google, amazon, facebook

in the red. the rally has paused. they made history as the first streamer to get exclusive rights to thursday night football. now they are getting those rates extended. >> it starts in 2022. amazon will take over thursday night game from fox, amazon paying for the exclusive rights over the next 11 years so the nfl is a winner here. amazon's deal is the first time the game will be provided by streaming player 15 games a year, and amazon earnings 175 million out of 200 million global subscribers streamed something over the past year, a way to see $19 subscribers sticky. stuart: amazon is truly amazon. just vast.

tentacles everywhere. not such a big company i robot down 12%. they make the roomba vacuum cleaner. rising costs of shipping and rising costs of components hurting stock, that is the inflation some companies are already seeing. avis budget, car rental people, topped estimates, there's a rising demand, higher rental prices and it is down one.6%. ford motor company, best month ever for their electric car sales from very low base, electric sales are 263%, the f 150 power boost hybrid doing well. the retail sales were up 57% in april compared to april of last year, not a very good

comparison and ford is back to $11 a share. under armour reported people opted for comfortable clothing during the pandemic, stock is down but don't understand why. casual clothes. >> they had to pay a $9 million fine for misleading investors and overstating purchases and sales, that is the thing, and back to 2014-15, there are more clothing this year. talking about percentage rates, the heading into covid, laying out a lot of staff. a lot of people do not buy as many clothes and losing market share to nike. stuart: good-looking chart, $7.15 a share in march, $23 a

share as of right now. >> everyone had a good spike from march from those march bottoms from last year. stuart: that is a fact. down dust real down 72 points, the winners on their, chevron, american express, jpmorgan chase, procter & gamble, verizon, well-known names on the upside, they are the winners. s&p 500 gardener, the top performer there, don't know many of those companies in particular but they are up. it must be a special reason for that. nasdaq winners, fox corporation, craft times, etc. on your screens, the nasdaq winners. how about moderna, still up, no, no, they slipped to the downside. they are ramping up vaccine production at their massachusetts side, not good enough for the stock. >> it was up 2% or so a few minutes ago, we are looking at

50% increase in vaccine production and they are forecasting supply production between 800 million to 1 billion doses. you do the math, billions of dollars in sales in the next few years. stuart: i noticed pfizer had gone to $40 a share, maybe vaccinations extended to people as young as 12 but they drop to 39 now but the vaccinemakers this morning on the downside. how about uber, show it to me please, teaming up with an electric vehicle startup called arrival. what is this about? >> uber had to sell off their self driving unit, apg which was eating up a lot of cash but uber teaming up with british electric van to develop these electric cars targeting production, a much cheaper endeavor, only raised closer to $100 million where the self driving unit is accorded

billion dollars in cash, and they developed a more expensive self driving unit. stuart: uber is back to $54 a share. the market has been open now for nearly 6 minutes. we are down on the dow but not by much still at the 34,$000 level, the 10 year treasury yield, one.458%. the nasdaq doing better when the 10 year treasury yield is 158. gold down a buck. bitcoin last check was 56,$000 a coin still right there down 3% and the price of oil $65 a barrel, 290 what is the average price of gas, i do this every day, that is up one dollar and $0.13 from may 4th of last year, it was cheap then and not so cheap now. let's talk dogecoin.

wag your tail for this dog the coin doge crypto can. >> billion dollars in counting, market. 25 to 30% this morning at the high and if you look at dogecoin you are scratching your head already, it is bigger than twitter, dollar general, ford and even craft heinz. you have adoption of budweiser, slim gems, and adding doge, coin for $20 million of its users. tell me if this shocks you, was up 100%.

stuart: anybody can make those calls. if it goes up overnight, 25%. tweets about it with snickers and slim gems and appeared on a budweiser can, that is all it takes to get up 25% then it is a joke but that is my opinion. we are out of time. police officer's emotional plea getting a lot of attention. watch this. >> i'm tired of every time i wake up in the morning there is someone, law enforcement is not a good thing. i'm so -- tired! stuart: i'm with him. and you will hear more from him, that officer, police officer coming up on that show today. senator josh pauli says if you think big tech is scary now wait until they team up with big government to spy on you. the senator joins me next.

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stuart: tomorrow facebook's oversight board rules on whether to uphold or reverse the ban on donald trump's account, remember donald trump has been banned from facebook for four months. my opinion, outrageous. our next guest wrote this book, that hear any of big tech. the author of that book is senator josh howley who joins us now. welcome to the program. what do you want to do with facebook, google, amazon and twitter, want to break them up? >> break them up is what we need to do. we have a long history of trust busting when we see monopoly

corporations, they are stifling competition, they are stifling innovation and exert political power in the gilded age, the railroad and other corporations, broke them up and that is what we ought to do to these big tech companies, they are too powerful. stuart: they censure us, too powerful and too big, these have a half trillion dollars. >> i propose some to do that i putting new rules, why should amazon be able to own the dominant e-commerce platform in the world and also own a sizable chunk of the cloud with aws and also have their own product lines they sell on the

amazon platform gleaned from their competitors. they should be able to do those things but shouldn't be able to consolidate multiple industries under one holding company, google does the same thing, their search platform, they only add market, the digital ad market where they have a mere monopoly shared their too. shouldn't allow them to own these different sectors and segments. make them spend those off, this would be good for competition. i believe in competition and i believe competition, it is good for liberty and protecting the freedom of the people and that is what we need to be about. stuart: could we make the argument these big tech companies, and and what microsoft has put into it. lots of examples these are the

crown jewels of american business and they work. don't you lose something if you break them up? >> don't know if they do. social media you look at the negative deleterious effects from social media whether the loss of productivity or folks who spend more time on social media whether that is externalities in terms of spiking suicides that seem to be correlated with social media use, depression, isolation among youth and adults, and the broader slowdown of innovation in our economy so much energy has been poured into the social media companies we are seeing less innovation in the real world, the world of adam as opposed to the world of bits of devices. social media companies have a lot to answer for. you can't go wrong with competition. let's have more competition. competition is ultimately protect liberty.

we need more competitive markets, shouldn't allow these guys, google and twitter and amazon and facebook to buy up their competitors which is what they been doing for years. we shouldn't allow them to block new entrances to the market which they are doing now. let's have some competition. stuart: what is the status of your book the tyranny of big tech. icing to remember a publisher said we are not going to take it or publish this thing. what is the status now? >> it is out today. you can buy it online, absolutely right, and they tried to cancel it. this followed a big tech campaign, they say cancel the book, the effort to cancel has failed and you can get today.

stuart: investors, as a source of k in, they look at big tech as a source of censorship. you get the feeling we are being rammed into this straitjacket, this intellectual straitjacket, the way big government things, the way big tech things, or else you can't get published, can't -- it is a crisis of communication or ability to have alternate points of view. a crisis of free speech. >> this is the problem with monopoly corporations who control our speech, these monopolies take our personal information without telling us, and use it to manipulate the in formation that we see, the worst part is the liberals in

big government, to suppress speech and do what government do what couldn't do. because of the first amendment and liberals in congress here cheering on big tech. band donald trump forever, and opposing deck of view. the liberals love that, this is danger free speech, a danger to competition and we need to do something about it. stuart: the tyranny of big tech out today from senator josh howley. great stuff. many teachers will not teach in person, our kids don't show up resume school. my opinion public education is failing our children. i have a my take on it coming up. get ready to pay more next time you check out of the grocery store. inflation is here, a report on that coming up.

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stuart: that man could play a, north vancouver where it is 46 degrees early in the morning. every day groceries going up from cereal to wine, edward lawrence at a supermarket in maryland talking to shoppers. >> they haven't felt this, the stuff you're buying is creeping up, and and we are seeing everything up 3.5%. break it down, cereal and baking products up 2.6% from march of this year.

and 5.4%, dairy up one.6% year-over-year, fruits and vegetables, nonalcoholic averages up 3.2%, shoppers are not feeling it. they are looking for coupons and deals at the grocery store. and i don't have to go to the pump is often but food prices are going up. not necessarily of the grocery stores but a lot of restaurants are increasing their prices. >> that is going to come. the federal reserve, a spike of inflation at 4% it will come back down, other economists said maybe that inflation spike won't come down on its own.

>> quickly to the markets, everything is down, off 220, the nasdaq is down 250 points, that is the best part of 2%. the only thing that is up, dogecoin, still ahead, fill you in on bill mcgurn, will kane, chad wolf. my opinion, we are about to embark on a massive expansion of government programs. they will be with us forever, no turning back. once you get something you can't take it back. we will be back.

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new york city. good morning, everyone. 10:00 eastern time. straight to your money. we got to take a look at this. we have one enormous selloff. the nasdaq is down 2%. that is a big selloff. 276 points down. nasdaq down. dow industrials down 250 points. that is 3/4 of 1%. stocks down pretty much across the board. 10-year treasury yield is down.

interesting, yields go down when prices go up. that means money is going into treasury bonds, maybe out of stocks, into treasury bonds, pushing the price up, the yield down. 156 on the 10-year right now. the cryptos, you got to take a look at them, ethereum, hit a new high this morning. bitcoin edged back a little bit to about $55,000 a coin. ethereum, we had it on the show. 3400, that is ethereum. i got a quote on doge, for heavens sake, 57 cents per coin. that is the joke coin, doge, moving up. that is 35% gain overnight because budweiser put dogecoin on a beer can. the thing goes up 57 cents a share. up 35 cents. enough of that. now this.

it was ronald reagan said the closest thing to eternal life on earth was a government program. he was right when he said it 50 years ago, he is right now. we're about to embark on a massive expansion of government programs, if we take that road there is no turning back we'll have to live with them forever. remember obamacare? still with us, health care more expensive, still unsustainable, the biden team wants to expand it. once the government gives you something it can never be taken away. that is why this moment is so important. this administration wants to transform our society and will use government programs to do that, health care, housing education, energy, the changes being proposed, once adopted will be permanent. do we really want to be a socialist society forever? i will digress to a op-ed in today's "new york times." biden's plan promises permanent

decline. bret stevens wrote that in "the new york times," permanent decline. stevens looks to europe and its cradle to grave welfare system, its massive cost makes europe uncompetitive, in decline. america he says, will be just the same. trillions for permanent programs leading to permanent decline. hat as off to bret stephens. he is right. even though he is in "new york times," the bible of the left, don't expect biden, bernie, aoc to listen. they want to change america forever. they could care less about decline. the second hour of "varney & company" is about to begin. ♪. stuart: i always want to see if my palkot shellady agrees with me. he normally does. i don't like the look on his face at the moment.

i'm saying we're heading to permanent decline if we get all the government programs, are you shaking your head, telling me i'm wrong? >> no, i'm shaking my head because you couldn't be more right, you could have been a little more emphatic about that. stuart, 42 years ago today margaret thatcher elected as prime minister of england to. this day. she would be rolling over in her grave. part of the reason why i love america when i spent 16 years over in europe, i saw a guy with a ferrari in london, thinking to myself as american, what does he do for that job, how can i get that job to have the car. the europeans don't think that way. they get angry. how did he get that car? how come i don't have one like it? that is why i don't like europe. they beat the success out of them. everybody on the government's dime like they try to do in this country they will beat the success out of everybody to have the equal outcome.

i didn't coin the phrase, biden's speech was declaration of dependence. everybody relies on the government. as the left always does, the champagne socialists they know better what to do with your money than you do. that is the road we're going down. exactly right. remember taxes were a temporary government plan. stuart: the problem is that the biden plan is popular. when you start shelling out trillions of dollars, it goes all across the economy literally, 7 1/2 trillion dollars of discretionary spending that is the spending we'll shell out that is popular. you can call it buying votes but it is popular. it is very difficult to oppose that politically. you sound like you're mean, you're tightfisted. as bret stephens says, we will have a kinder, gentler place but yes, we will have permanent decline. kinder, gentler, that is popular. >> well that is what you get

when we have time outs, right? that is what we get to raise a generation of kids don't know what is hard work. i'm sure there are some out there. my upbringing, i wanted to have the opportunity to make the money, to get those things. i didn't expect the government to give them to me, right? nowadays, this is what we have. it flows through everything, right? we have an administration in power, i wrote about this last week in my op-ed, these kids voted against something. they didn't vote for something. you don't know what you get when you vote against something. here we have a few with declaration of dependence because we didn't know what he would be doing. all we knew what we didn't want. that is very child like. that is the problem. we have a lazy government. we lock down everybody instead of deciding who we should lock down and who we should be looking after. stuart: got it. >> give everybody a vaccine regardless whether you had covid or not whether at risk or not. we have lazy legislatures, a

lazy electorate. this is what happens when you slowly but surely slip into socialism because people are lazy and they get bought off. stuart: i have seen it before. i think it is happening now. scott shellady, thanks very much for being with us as always. thank you very much indeed. >> all right. stuart: talking here about the president's huge spending plan. he says, president biden says, there is bipartisan support for that spending plan. watch this, please. >> the good news i think there is overwhelming bipartisan support for this. look at polling data. republican voters overwhelmingly support it. now i have to get some of my republican colleagues support it. stuart: bill mcgurn with us this morning from "the wall street journal." senator mcconnell the minority leader in the senate he says that there is no gop senator who will support this infrastructure plan, not one. that is pushback. it makes me think that maybe we won't get this socialist take

over. what say you? >> yeah. that was the same message senator tim scott gave the other night when he rebutted the president's address to congress. i'm not assure that it is really as genuinely popular as they claim because if it was, they wouldn't have to pretend that -- you can have a bipartisan bill with no republican votes. it's a, it is a lot of switcheroos. stuart, if i took you out to dinner, don't worry about it, have a steak. let's have the dom perrigne. i didn't give the bill until a year later that night you might like it, feel good. i think philosophically where the republicans have to push back. the absence of emphasis on work, the dependence theme, that is very unpopular. if you remember during the obama administration they came out with this fictional julia, life of julia, it was cradle to grave

where she was dependent on the government for programs. people didn't like that. i think there is a reason they're disguising you know, highways are racist and pre-k is infrastructure. you know when people see the truth, people see the bill, i'm not so sure they're going to be as favorable to all of this spending as it looks now. right now we're just talking about, just imagine, you can get a new house, you have a new road, you have a new system. that's fine but the bill is going to come due and i think that could change drastically overnight in the polls. stuart: is senator manchin the most powerful man in america? >> well in some sense because he is stated objections but the truth is every democratic senator has that effective veto. the question is will they go up against the president on something this big? you know it is also, i think very corrupting in government to measure programs by their

bigness. you know when i was in the white house some of the people would do that, it's, i find that very corruption. bigness is no guarranty of goodness, that it works. stuart: for sure. >> the government does better when it is more modest about what it can do and i think there is this kind of you know, sugary high. first of all the press doesn't question anything in the biden narrative. so he didn't ever have to answer tough questions. i'm not sure this will look the same way it does now in a couple of months. you mentioned before inflation, and other -- shovel-ready projects aren't that shovel-ready. stuart: i'm sorry i am out of time but i believe you're right and i live in hope with you. we'll be back with more from bill mcgurn shortly. all right, i want to look at the market because we got a huge selloff going ons over inflatio. you heard bill mcgurn mention

rising prices. kroger and albertsons are being called sell this is morning by goldman sachs with rising commodity prices, by the way corn hit seven buck as bushel. that is the highest since 2013. that will hurt the bottom line at kroger and al about better son's name. allow you to bid for expensive art and collectible, with cryptocurrency. twitter announced this, buying scroll, subscription service removes ads from news sites. costs five bucks a month. will twitter buy scroll and addd

here, digital gold. ethereum outperforming bitcoin this year, up 300 plus percent. only may. a lot of tailwinds for ether. we have a booming nft market trades on ether. financial predictions that ether will outperform bitcoin for a while. might hit 10,000 a coin. maybe 4100. that may be more conservative. check on the other cryptocurrency, dogecoin, 60 billion in value. up almost 30% this morning alone. that is volatility. dogecoin 60 billion, more than twitter, ford, dollar general, kraft heinz, getting a lift from budweiser. this suggests that if companies like budweiser, slim jim's maker, etoro making more

widely available for users and traders that will increase the value. stuart: i just find it ridiculous. susan: i know you do. but not everyone does. stuart: it is ridiculous. susan: i have don't think so. no, i don't think so. difference of opinion. it depends how you view risk. i'm being told we have to go. stuart: here is my point. a joke coin that goes up 25% overnight because it is on a beer can is not a serious investment. that is a gamble. that is a gambling chip i do find it. susan: what happens if a penny stock -- stuart: i'm sorry he can't do this. we have to go commercial. susan: no difference between equity and crypto. that is what i'm saying? stuart: okay. got it. thanks, susan. body camera footage shows one driver per rate offing a police officer, simply for doing his job. watch this. >> must speed limit 40, going 38. >> you're correct.

i pulled you over -- >> because you're a murderer. stuart: what? the reporter who obtained this video is here with more on it. america's youngsters telling president biden exactly how they feel about virtual learning. >> we're very tired and we can take a little nap. [laughter]. >> sometimes not paying attention, you can eat. stuart: gee, i wonder what brian kilmeade would say about that. he is on the show. coming up shortly. ♪. ♪ ♪ ♪

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stuart: bad day on the markets. look at that. nasdaq is now down over 2% and the dow industrials are well below 34,000. big tech, that's the big problem today, all of them down very sharply. look at that. apple is down 3.25%. facebook is down 2.25. alphabet, down 2 1/2%. microsoft is down over 1%. that is a lot of red ink for the big techs. they are leading this whole market down. look at the nasdaq, down 2%. blame big tech. pfizer, they came out with earnings this morning. they're looking for $26 billion worth of vaccine sales this year and the fda may approve pfizer's jab for use in kids age 12 to 15, maybe next week. pfizer, one of the few stocks that is up today. previously it hit $40 a share. right now 39.97. then you got to take a look at this.

california had the lowest virus case rate in the whole country, however, kids are are still not back in the classroom. tom del beccaro is with us, california guy. sorry, i got that right. look, i want to hear somebody pound the table about the unions, teachers union i'm not hearing it from california republicans. certainly not hearing it from california democrats. not hearing it from anybody. when will you do something about this, tom? >> i will get right on it. stuart: i mean, how many times, how many times have i done interviews with people in california, yeah, oh we got to do something about the homeless problem, we got to do something about the teachers union. nothing ever happens. nothing ever happens. >> well, you screamed and we raised $3.2 million and put the recall on the ballot. that starting to be something. that is the reason why this state opened up at all starting

in december but there is no question that the unions are more powerful than gavin newsom in this state. i mean you know the horrific numbers. dropout rate up 500% in california. he is not strong enough to stand up against it. and that's why my group rescue california.org and others are pushing this recall, because there has to be some accountability. stuart: the candidates who want to be governor, amongst the republicans, there are a couple, has anyone said we'll decertify that union? we'll take the teachers union out of the schools? has anybody said that? >> not other than you and i. if you recall the last time around i said it may need to come to that. i'm not aware of a candidate willing to go that far. that is the most powerful political player in california are the public employee unions and teachers unions among that but unless there is some accountability to them, i mean keep in mind, places like san francisco the public health

department has said they could open up the schools all the way to last september. yet they still can't reach a deal. interestingly enough, stuart, local high school here told parents last week that their kids can opt out next year and online the entire time through a third party vendor. that is where california is today. stuart: i'm sorry to shout at you, pound the table like that, tom. >> no. stuart: a lot of people are really exasperated. i started out my tv career in san francisco many, many years ago, over 40 years ago t was a wonderful place to live, it really was. it was a dynamic place. now it's not. known nobody seems capable of turning things around or even serious proposals. i'm sorry i'm out of town, come back and see us. i want a list of republican candidates for the governorship of california, who will a, cut taxes, b, deunionize the

schools, and c do something else that gets california out of its mess. will you come back and tell us who that person or these people are, please? >> absolutely. see you soon. stuart: yes, sir. thanks, tom. i'm having a bad day. bill and melinda gates splitting up, 27 years of marriage. susan, what happens to the billions? susan: having a bad day, what do you think bill and melinda gates are doing? stuart: not good i'm sure. maybe should put their billions into dogecoin, susan how about that? susan: they may have hedge ad part of that into bitcoin and crypto. called diversification these days in portfolios. they do have a lot to spend. 140 billion-dollar plus in their fortune. that includes microsoft shares, property, other investment interests, not to mention the world's largest private charity fund, the bill and melinda gates foundation has over $40 billion. according to some reports there was no prenuptial agreement.

bloomberg is reporting there is a separation agreement has been predetermined. so that is interesting. this was a shocking announcement yesterday, made on twitter, announcing an end to 27 years of marriage. bill and melinda posting this, saying their marriage was irretrievably broken. melinda gates added her maiden name french to the twitter profile. this will be likely the second most expensive divorce of history. no prize for most expensive divorce in history was, you know who that was, stu? stuart: i do. i do. bezos and his now ex-wife. susan: it wasn't 50-50 in that case. mckenzie got 4% of the amazon stake, worth $30 billion. making her one of the richest on the planet and definitely one of the richest women on the planet. stuart: how the foundation will operate in the future.

they are supposed to joint do i it now, they could go their separate ways and influence. that may have influence how the foundation spends money. susan: the giving pledge. they have been rounding up some of their friends and families to give up half, almost all of their fortunes, right? stuart: talking huge amount of money here. that, not at stake but where it goes is at stake i suspect. thanks, susan. one police officer's emotional plea to stop the hate against cops is going viral. watch it. >> i am tired of every time i wake up in the morning there is someone else polarizing the fact that main law enforcement is just not a good thing. i so -- tired, tired! stuart: we know how he feels. we have the full video for you just ahead. ♪.

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>> so why are you ma asking me? >> you're correct. >> you're a murderer. i wasn't on my phone. i was recording you because you scared me. i'm perfectly legal and i'm a teacher. so there. >> cone gratlations. >> you're a hurt earlier. >> only citing you for using cell phone while driving. that's it. >> for him being a mexican racist? what is that name? here you go, mexican racist. you're always going to be a mexican. you will never be white you know that, right. stuart: good lord. that video was obtained by fox news. you heard the driver calling the deputy a murderer. he was a racist rant. fox's bill melugan got that video. he is with us now. bill, you spoke with that deputy. what did he say. >> he said he was glad he had the body camera on. stuart, when everybody watches the video, everybody has the same reaction you just did, oh, my god. this all started with a simple traffic stop. deputy told me saw this woman

using her cell phone while she was driving. things quickly deteriorated within a matter of seconds. that woman who was claiming to be a teacher just launched in a total tirade against him repeatedly calling him a murderer, making a bunch of racist comments about him. listen here. [no audio] okay, so we don't have that sound bite there you heard it at the top. we did learn the identity of this woman but right now we're not naming her. i have tried to reach out to her multiple times via phone and email. she has not gotten back to me yet, deputy's boss, l.a. county sheriff alex villanueva he is proud of the way the deputy handled the situation, stayed calm, stayed professional. national sheriffs' association, they told us what they saw on this video is absolutely appalling. take a listen if we've got that?

>> i think the situation frankly was ridiculous. this woman's behavior bordered on poking the bear. reporter: so the deputy in the video he is a 14 year veteran ever the sheriff's department, the exchange was captured on his own personal body camera. i talked to him about this. he told me bought the camera himself to try to insulate them self from false allegations. it might work out for him because the department tells me right after that traffic stop that woman actually called their internal affairs bureau and filed a harrassment complaint against him. so, stuart, that deputy likely going to be very happy he spent that money to make sure that the public saw what really happened there. we'll send it back to you. stuart: the woman may eventually be very unhappy. bill, great report. thank you very much indeed for joining us, bill, we appreciate that. >> thank you. stuart: there is this, students and professors refusing to show up for class. they don't want police on

campus. campus reform reporter ophelia jacobs joins me now. according to their website, they don't want cops just off the campus but off their planet virtually. give us the story. >> yesterday more than 600 students and professors pledged to skip or cans tell class all in the name of social justice. coalition, cops off campus, organized a month long series of evince be a bowlation may. may third was the first of those events. this is nothing new. anti-police rhetoric on college campuses has been going on for years. leadership institute campus reform has been reporting on this movement all the way back since 2015 when vanderbilt first implemented antipolice courses in their curriculum. fast forward to 2021. hundreds of professors, students, marching out of class to defund the police, to abolish the police off campus completely. shows these radical leftists ideologies have a tendency to start in one campus, expand into

nationwide strikes and movements across the country. stuart: all right. owe peel yaw, what a story. -- ophelia. appreciate it. more on a similar vein. a atlanta police officer getting emotional, venting his frustration over anti-police rhetoric. ashley, come into this. i think you've got tote full story. what did the officer say? ashley: major kelvin dingell says he is fed up and frustrated with a negative attitude towards police officers that is and expressed his exasperation on tiktok. take a listen. >> i wake up every morning and kiss my family good-bye knowing that there is a possibility i won't come home. i am tired of every time i wake up in the morning there is someone else polarizing the fact that maybe law enforcement is

just not a good thing. all of us are not bad. i am not as they are. most of us are not. there are bad people in every career. i'm so -- tired! tired! tired! ashley: i think that says it all. letting it all out there, the video was posted to the social media platform tiktok over the weekend. since viewed by well over a million people. it is also by the way, triggered an outpouring of support with messages like, i'm so upset that this is your reality. while many others expressed their gratitude for his work and sacrifice. but the frustration that comes across in that short clip is substantial, stu. stuart: it is really obvious. that is what makes it such an important clip. ashley: right. stuart: ashley, thank you very much. all right now, some positive stuff. finally a win for the anti-woke crowd. opponents of this critical race

theory fighting back in texas and winning. that is good news. will cain is here on the national implications. first though injuries at home are on the rise. even just sitting with your laptop apparently can be dangerous. we have a report on that for you as well. ♪.

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of this special tv offer. stuart: everything's down, the market, bitcoin all down. dow jones average down 200. nasdaq down whopping 250 points. that is the best part of 1.8%. it is big tech dragging most things down. look at apple, down 3%. that is a big hit. facebook down nearly 2%.

big tech on the downside. maybe we've got a situation here where the market is on pause. we've got a great economy, terrific profits. we already had a massive runup. maybe we're pausing. maybe we've run out of steam on the upside, i'm not predict the future but we have a selloff in progress right now. move on. when the pandemic hit, people were stuck inside, all of us were. maybe we took on more projects at home. the result of that is more injuries at home. grady trimble is at a therapy, clinic i guess you call it in chicago. how many more patients did they see since the pandemic began, grady. reporter: they have been busy stuart. it came as surprise to me, stuart. came from doctors, chiropractors, physical therapists. patients are stuck at home. get a little too active, get hurt when they do that. tyler is a physical therapist

here, what have you been seeing, how many more patients? >> initially saw a drop from everyone staying at home. with that staying at home they weren't doing normal exercises, they weren't going to classes, even moving around. that compared with the poor work set-ups from home, not working normal ergonomic setup at work, kind of deconditioned, weakened muscles a little bit. once they start opening back gyms up, getting back into their normal activity, they're jumping back in without easing in, and that is causing pain in a bunch of different regions of the body. reporter: stuart, the data backs this up. study done during the lockdown, 26% of people had injury at home compared to 14% during a comparable period in 2017. what is the solution to this. how do we avoid getting seriously hurt? >> easing back into activity is huge. if you end up having some issues

with pain or aches from getting back, we here at athletica we offer free assessments, come in, speak to a licensed professional, get an opinion what the next best steps are. pt is good or some other plan of care is best for you. reporter: take it easy, stuart. ease back into it. i myself did not follow that advice. i joined my soccer league after i vaccinated, i'm suffering from a little bit of back pain. interesting side-effect of the pandemic i would not have thought about. stuart: i busted up my shoulder falling off of a small vehicle trying to reach up for an apple for one of my grandchildren. i don't do that again. i hope we're not locked down again. grady, thank you. see you again soon. on a day like this we need to get back to market coverage because we're way down they're. down 200 for the dow. 250 for the nasdaq.

what are you watching, susan, big tech? susan: some of the nasdaq is coming off. i would say there is some rotation of money. we have the usual phenomenon, cyclicality where people sell in may, go away. why markets tend to underperform from may to october. i want to point out money might be coming out of big tech, when you think about it, squeezes a lot of other places including crypto currencies but also commodities. oil prices rallying up 2% from what i saw. nat-gas hit three bucks, the highest since february. commodities like corn is up to $7 a bushel. that is the highest since 2013. we know lumber prices hit records as well. inflation is on the horizon. money is going into commodities instead, don't you think? stuart: a couple of our market guests have said look, you're seeing the first signs here of inflation. it has arrived. susan: yeah. stuart: i think you put your finger on it. i think that is the problem for

the market this morning, inflation threat. susan: yes. stuart: down goes stocks. all right. susan: would often note have you looked at the 10-year treasury yield? we're down for a third consecutive day though. if there was intention, expectation of higher inflation you would imagine yields go up in order to contain inflation. stuart: yes. i think this is a function of money out of stocks into the safety of the 10-year treasury, as heposed to an inflation move. i think it is just a movement of funds. but we'll see about that. i want to talk to you about apple's trial along with fortnight maker epic. that trial is underway. susan: yes. stuart: the ceo of epic, tim sweeney, he took the stand. did he say, he said some rather dramatic things. susan: he was teasing he was going to say something. three hours of testimony there for tim sweeney fortnight maker ceo. he is accusing apple of monopolistic powers, arguing that the 50, 30% commissions are way too high. it is unfair.

they have no other alternatives on iphones. apple is arguing, will argue the same thing. they built the app store. if you don't like it go somewhere else. 90% of apps don't pay anything. they need to make sure everything is working. we're looking at witness list. apple ceo tim cook is on it. we're not sure when he takes the stand. the apple long time marketing guru was in attend danes. we'll hear from him. a leaked e-mail with schiller and steve jobs many years ago in the exchange schiller thought about reducing the app store fees. stuart: got it. thank you, susan. got to move fast here. most states are opening up but washington, d.c., is a very different story. listen to this. the mayor now banning dancing at weddings. oy. president biden gets an earful from america's kids on virtual learning. brian kilmeade will be here to react to it after this.

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down 300 points. i'm sorry the nasdaq is down 300 points. the dow is down 250. that ladies and gentlemen, is a selloff. we're coming up to 10:51. it is tuesday morning. you know what that means. brian kilmeade will be joining literally in five seconds. we have a lot to go at with brian. all kinds of things in the news today. it is very contentious. brian kilmeade joins us right now. here he is. all right, brian, i know you've seen this. i will show it again. this is schoolchildren telling the bidens how they feel about virtual learning. roll tape, please. stuart: why aren't our children back in school full time learning in person? it seems to me the biden team is in the pocket of the teachers union.

>> no question. i was staggered to say that the democrat party and super-pacs in and around joe biden collected $40 million in the election cycle. $40 million. tough get something for that money. who would have thought $40 million would be nicer schools or buildings or pay raises. you know what it is? $40 million staying at home, having access to the cdc, even though the cdc director in february 3rd, february 14th, says no reason for kids not to be back in school. we see discovery from the freedom of information request, shows direct action between the cdc and teachers unions which affects tens of thousands of schools in this country many are which in the inner city. the kids that need it the most are not allowed to go back the quickest. they're going back last. it hurts women for the most part because they have to stay home because they can't afford the extra child care, destroying

careers and livelihoods. don't sit in front of the class, mr. president, you care about the kids. you didn't have the courage of 78 years old, more important than $40 million that you give me i care about kids not losing a generation of americans, in first, second, 11th, 12th grade. i find this unbelievable that these communications came out and this is not a bigger story. stuart: i agree. i know you've seen this video. we show our audience video. i will play a small part of it because it is germane to this argument. >> speed limit of 40, going 38. why are you harassing me. >> you're correct. i pulled you over -- >> because you're a murderer. stuart: the lady is a teacher. the driver of that car is a teacher, calling a mexican or hispanic police officer a racist. what's with education in this country today? >> i mean we find in times,

talked to an officer who was ranting i can't believe how my relationship with the community which started when i was a marine, now i'm an officer has deteriorated over the last year or two. the academies are not filling up. places like philadelphia can't even fill their force. people are retiring. now they're leaving in june. look for a mass retirement in june, despite 200% increase in homicides in new york. because they had overtime last year. with all the riots. they have had it. they want to leave on a high. they get the pension. they will start mass resigning in june. guess what? there is a certain segment of our society couldn't be happier. including our former president barack obama who now wants to reimagine police, imagine a world and a city without police. they can live there. we'll go to a place that backs law enforcement like texas, florida, and south carolina and then people can live in the wild, wild west where there is no rules, there is no law. where judges let you out even if you shoot somebody.

for that conversation went on it gets even more offensive. they said i don't care what happens. you're always going to be mexican and you will never be white. what does that have to do with it. that teachers name might be revealed shortly. we're trying to get their side of the story first. we'll get that person's name. stuart: then, go to the union. go to the teachers union. is that woman, who made that racist rant, is she still a member of the union in good standing? that is a question to ask, isn't it? what is is with this union? i'm exasperated. i'm having a bad stay. this upsets me. kids are not learning. police are reviled. there is violence in the streets. this administration does nothing about it. >> my final thought it this. i'm used to people on the outside, al qaeda, china, russia, trying to take america down, jealously in the european union. i never thought i would see a time where we would be taken down from the inside.

it is up to true americans to stand up. forget your party and do what's right for a change. we're seeing it with people like bill maher way to the left, who has seen a lot of this stuff go on. doesn't want to tolerate it. i hope a lot of sober-minded people watching to us, listening to us have just about had it. stuart: i think they have. brian kilmeade. thanks for joining us, we hope to see you real soon. >> thank you, stuart. stuart: we have a big hour still ahead for you. look at this, chad wolf, will cain, joe concha, still on deck. a revolt against critical race theory in one texas school district. good news for american youngsters, that is my opinion. that is the subject of "my take" next. ♪. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for.

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>> we broke them up and that is what we are to do too big tech companies, their too powerful. i believe in competition, not only good for innovation and good for liberty. >> microsoft is one of the companies that we don't trade. i would rather own microsoft any day of the week. >> stimulus shock. and price pressure.

>> >> taxes are temporary government plan. >> newhouse, new road, new system. eastern seaboard of th states of america. we have a selloff in progress. and that is where the nasdaq is. and big tech in a major big selloff, apple is down four

points, one.6%, 200 half% down. the yield on the 10 year treasury moving down one.6%, money is out of stocks going into 10 year treasuries, raising the price, pushing the yield down. the cryptos, bitcoin down $2,000, if the are you him earlier today broke the record and went to $3,400 a coin, pulled back a little right now. at one stage the joke coin known as dogecoin, hit $0.60 a share early this morning, back to $0.53 as of right now.

now this. here is what the left insists, history began in 1619 with the arrival of the first african, slavery and race, to this day define america. that is critical race.. and activists, and they could make critical race theory, on the centerpiece of the school curriculum, it was a landslide. can you imagine a more divisive program, they have to admit their privilege and black is the resentment, to say public education is failing is an understatement, in cities it is like a collapse, teachers won't

teach, minority kids are falling further and further, and they are told to take racial sides. this is an opportunity, maybe more school district will reject this divisive theory, do something about the teachers union. it has been exposed, turning out political activists rather than educated youngsters, maybe politicians will summon up the courage to d unionize our schools. i'm just date reason -- daydreaming. dreaming about the day with education, not politics don't public public schools. we are paying for it all. the third hour of "varney and company" is about to begin. ♪♪ my apologies for being so

bad tempered today. i'm put out of sorts by the nature of the news. the gentleman on the right-hand side of the screen, sorry he has to come into a bad tempered environment, this is a major win in my opinion against the crt theory. >> i don't find you ill tempered, i find you full of optimism and that is a charming personality characteristic. if you think we are at a moment it has become so obvious and i hope you are right that you can rip back the covers, expose what is obvious, yell from the mountaintop, the emperor has no clothes, what has been exposed, crt which is a benign name and

was retired, more like state-sponsored racism, teaching that white kids have original sin and we need to define through the shallow pigment of skin color, that is what it is teaching everyone, state-sponsored racism, that is exposed and separately as you point out teachers unions don't have in mind what is best for your children. sacrificing children, my kids are looking like will ferrell in wedding crashers, and not to mention, and the one that is exposed is a movement that is unpopular, being pushed by radical minority of bullies who threaten you, for in your livelihood and reputation and if you have the strength to stand up we can yell that the emperor has no clothes but it

will take much more of us. many more of us. stuart: it is another small part of it. roll it please. >> i was going 38. why are you harassing me? >> pulled you over because -- >> because you are a murderer. stuart: stuart: that woman is a teacher. what are we doing here? go at it. >> i feel passionately about this and spoken about his on fox. the essential characteristic of morality that spans the test of time is are you willing to look each other in the eye, man, woman whoever you are, judge

each other by our character, by our actions or are you going to divide us into tribes? this woman teaching our children looked at that offer and saw nothing but his profession, a profession she chalked up as murderer. that video went on, she also insulted his race. he was mexican-american, she went on to insult his race. there's this idea that only white people can be racists and that is absurd. we are tribal arising based on race, political affiliation, profession, calling murderers, the opposite of the essential moral characteristic looking at each other as individuals and this woman typifies the poison floating around that society right now. stuart: cool, calm, and collected for justice, powerful in his speech. you are all right and we thank you for being with us today. i am trying to calm down. we have a selloff in progress down 250 for the dow, down 314 for the nasdaq, let's bring in bullish brian, don't know if it

applies today. we have a selloff. are you still bullish for the long-term? >> we are for the long-term. a couple weeks ago when you accused me of not being. i said sideways was what was going to happen, that is what happened and we don't think the market is going to have this deep correction everybody seems to think is going to occur, 10, 15, 20%, those prognostications are literally impossible to make. it is based on analysis and process, stocks are higher, significantly higher, one, 2, 3 years from now based on the fundamental strength that is continuing to be the strongest assets of the world. on the near-term basis we have a heckuva move so no doubt we need to take a little bit of a rest here and the key thing we

talked about, bond yields are heading lower. everybody decided if you remember january and february everyone thought we were going to 2%, we are below 160 and that is a sign not only that we are diversifying our overall portfolio but it is a bigger picture, buying stock and bond in the united states and that will continue the next several years. stuart: cool, calm, and collected, we should not just a lot of medically across the board. it is just a market cause. is that way to sum up what you say. >> let's keep it simple. this is a very well overdue respite, not a big correction, portfolio should be re-examined and you should be looking at buying more tech on these pull

backs. stuart: i haven't got the courage. i haven't got the courage. i have some spare cash but not brave enough to pump more into microsoft or anyplace else in the tech market. am i wrong? mi absolutely wrong? >> yeah, because you are leading with emotion. will microsoft be around or apple or netflix or google? pick your spot and make sure you on those stocks for the long term, they will continue to be the leaders in our economy. stuart: the long-term for me is different from the long-term for you. don't forget that. >> not that much different. stuart: off camera we will discuss how much. i think you are all right and you did make me smile and calm down. we will see you again soon. the spring in susan who is following airlines.

>> a 2% selloff for the tech has a nasdaq. look what is happening in travel. a lot are coming out today as well. it is a broad-based selloff, maybe it is sell in may and go away. and the concentrated wealth of these tech giants on the broader markets, and the moose taking place with high-growth, high-tech, the 10 year treasury yield, down the last few days and below 160, and tesla trading below 700 and, it is coming off on quite a hurry.

>> >> it is down 663. >> when tech comes off value goes up, not the case today. stuart: i promise the next 50 minutes there will be no mention from me at least to you of dogecoin. the mayor of washington dc bands dancing at weddings. what is this? rate -- more on the story coming up. 6000 migrants apprehended every day at the southern border. asked the former dhs secretary chad wolf, joe can'ta took his family to essentially distant baseball game, the tickets weren't cheap. was it worth the money with all those restrictions.

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stuart: last there be any doubt that me tell you this is selloff, the dow industrials in the past couple minutes dropped 70, 80 points, down 320, almost 1% and the nasdaq is down 370 points. major league selloff, big tech, that is the reason for the drive at the nasdaq.

apple is down $4, $5, $127, google is down $71, 3%, microsoft down 2%, $5 lower. across the board, big tech in serious trouble. next case senator josh howley was on the program earlier, slamming on the government. >> they take the personal information without telling us, they sell it without our consent, use it to manipulate us into buying things, manipulate the information and tell us what we can or cannot say and the worst part is they want to use the same companies to suppress speech. stuart: he says flat out break up big tech, joe concha, facebook will announce of the will continue the ban on donald trump or rescind the ban. this is the censorship senator howley was talking about.

>> it is prevalent and very real but i look at facebook and say is this impacting their bottom line, banning the former president of the united states, being biased against conservatives, republicans, whatever you call them. i look at what facebook was trading a year ago today just north of $200, today around the 314 level so you are talking a 50% increase in stock so facebook saying we are private company and we can do what we want, i don't agree with this but they want to ban the president of the united states they are going to do it and you hear about breaking up big tech companies does anybody believe a democratic administration, democratic senate, democratic-controlled congress is going to take a break up their biggest allies, facebook, twitter, instagram and google, not going to happen. republicans want to go ahead with the led by howley but i don't see why the biden administration would support

and the best advertising vehicles for their campaigns and the administration. stuart: exactly right. facebook is 313 a year ago before it banned donald trump. it was small change, now talk to me about facebook, i know you want to a yankees game, what was it like? >> i had to wake up and get first in line at urgent care, the yankees are not sure, require that even though my kids are 5 and 7, my wife is fully vaccinated, they show a negative covid test and get to the game, check the tests. we went through the effort for basically nothing and then go in the stadium and 11,000 people at 20%, a world series a playoff night and day in terms

of that but there are no ushers. i end up dropping $150 per ticket for second-tier type of thing, that was very troublesome, no popcorn, no crackerjack, and try telling them they don't get those things at a ballgame, where they saw two hits the entire day, was it worth it? until they go back to full capacity and do all the things you get at a baseball game it is not worth dropping a couple hundred dollars to get half of baseball games. stuart: people in front of the politicians, new jersey, new york, illinois, california because we are the ones, we the people, we want to go back to normal, assume the risk we want to assume, make personal decisions but we are not there. you are not there in new york

or new jersey. >> my kids have to get tested for covid after we get into an open-air yankee stadium at 20% where no one is sitting anywhere near us. if i taken to a restaurant that is what people indoors i don't have to show any vaccination card or negative tests, that is what so many people are frustrated with. stuart: very frustrated. i am having a really bad day. i know you are trying to get me out of a bad mood. >> turn the ground around. stuart: see what i can do. thank you, that was just great. look at this. that is a selloff back to the market down 320, you got to show me big tech, that is taking a dive.

janet yellen, the atlantic future economy summit, does that upset the market? >> it has to do with paper and the rising interest rates once again and some of her comments, he says race may have to stop the economy from overheating which is a bit interesting, this may result in small increases and interest rates, meaning taxing those who earn more than those that don't and talk about uncollected taxes that might amount to $7 trillion over a decade. it will not all be deficit spending. the interest rates seem to have upset the market but she does say we expect to be in an environment of low interest rates for some time but still need to make sure the deficits remain manageable and marginal tax rates in case you care much less powerful and influencing growth that many think

according to her, she's talking about taxes, interest rates, go ahead. stuart: i would go along with the view that when she says interest rates may have to rise that is the first hint that the massive printing of money may be tapering down at some point in the future. first time we heard from her that has done the damage are you with me on this? that's the problem for the market. stuart: the interview has done some damage on the market because people, you heard from jay powell at the federal reserve meeting, not anticipating any interest rate increase this year or even next year but when janet yellen is stepping in it is interesting she makes these comments on higher interest rate for jay powell, the head of the federal reserve has been placating. she didn't say when interest rates might have to rise. i have to point that out. stuart: she also said she's thinking about the $7 trillion

worth of uncollected taxes, the first thing i think of is capital gains tax increase, that hit the market. maybe that is a factor as well. okay. got to go. here we go. mayor of oregon city turned it into a common sense century. >> declaring a state of emergency. we are saying these lockdowns and mandates are hurting our people more than the virus. stuart: believe me we like that. border patrol, an emergency, one of the biggest concerns, migrants spreading covid. a report on the migrant testing site. ♪♪

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points, 3 quarters of one%. look at big tech, that will show you the extent of the seller, apple is down $5, amazon down $78, facebook down 8. that is a selloff. that is the story on the market this morning, selloff, in part, because janet yellen has said we may have to raise interest rates. not saying when but by how much but as soon as she said that the market headed south. the border surge is creating a major covid problem. the rio grande river, william, what is the migrant/covid connection. >> reporter: as you know the biden administration is allowing in unaccompanied minors, 19,000 in march and in the rio grande valley they are allowing families who have children under age 7. that isn't the case in other parts of the border.

they are getting tested and being tested at government expense and 15% to 20% are testing positive. they will go to catholic charities if you test negative, those are positive, go to a whole -- a hotel and get testing, 96%, the children, never go home. under president biden, there's a policy called title 42 adopted under donald trump to expel immigrants but the left is very upset about this. they say biden should not be using it as a blanket rule to deny immigrants. right here, that is unfair and inhumane. people along the border fear that the president will remove that and if he does, they fear and uncontrollable surge. >> it will be the worst we have ever seen in my humble opinion. the worst we have ever seen up to now and we've been dealing with it for years. i think it will get worse.

>> reporter: agents in the rio grande valley over the last 36 hours had five major smuggling attempts in the last few days at a checkpoint they found 12 immigrants locked inside a tractor-trailer including children. six individuals kidnapped inside the hotel room, two instances where agents and deputies stopped smuggling on the highway, the smuggling vehicles crashed into a fence and people bailed out and others arrested, running away. under the biden policy they are not detaining those individuals, but the problem is tent cities on the border, they are filling up. vice president kamala harris will meet virtually with the president of mexico friday to

strengthen their southern border, and the border patrol has to deal with that, stretches the resources all along the river here. back to you. stuart: what a mess, thank you very much. the department of homeland security says 6000 migrants were apprehended every single day in the month of april. chad wolf is with us, former acting secretary at dhs. and the 6000 today that actually catch, how many go on caught? >> great question. if we are apprehending 6000 per day there is another thousand or so per day that got away, individuals the border patrol never comes into contact with and over the course of a 30 day period you are talking about a

significant number of folks, these are individuals who as you mentioned in your earlier segment are not being tested for covid. these are individuals we don't have into contact with, they could be criminals, they could be terrorists in some cases, they could be cartel members. a variety of things are very concerning about not being able to identify the interview those individuals and deport those individuals if they are in fact criminals or dangerous folks. stuart: vice president harris will meet virtually with the president of mexico next week. is that going to work? can the mexicans relieve pressure on our border? >> it is part of an overall process. what i don't understand is they will press the northern triangle to enforce immigration law on their borders but refused to do the same on the southwest border.

as long as the border is open and videos not implemented in procedures to shut that down to folks trying to enter illegally it doesn't matter what type of diplomatic negotiations they have at the end of the day because the surge will continue until we put procedures who enforce rule of law that they are not doing, you're going to continue to see this overwhelming surge. stuart: let me get this clear. at the border right now nothing is really being done to stop the flow, nothing. >> since inauguration day the biden administration has door and down policies and procedures, to stem a crisis they reversed the migrant protection protocols, asylum operative agreement and even the type -- title 42 which talked about applying the public health order to minors

which you see a surge of minors coming into the us and staying here in the us. the crisis in the surge under control they refused to do as a capacity issue, trying to build more facilities and accommodate and process individuals faster and faster and faster. i would argue that's not the solution. the solution, the illegal activity doesn't occur in the first place but assign a consequence to that illegal activity but if you continue to welcome these folks and facilitate movement to the interior of the us you will see the surge continue. stuart: thanks for joining us. the fda is expected to approve the pfizer vaccine, kids 12 and

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insurance. stuart: earlier this morning janet yellen suggested interest rates might have to rise, the lasting the market wants see the market sold off. the nasdaq is down 360 points. big tech leading the charge to the downside. apple down 5 amazon down 92, facebook down 8 and so it goes. big tech taking it on the chin, something will he be different, small businesses in philadelphia, those that stayed

open are struggling to survive because of taxes. let's go to jeff flock in philadelphia. give us a story. >> i was shocked when i move partially to philadelphia. you see a lot of this in philadelphia, empty storefronts for sale, for rent and tough business going on. look what they pay if you have a small business in philadelphia. i am on broad street. look what they pay. income tax, state income tax, the philadelphia wage taxes the highest in the nation, business income and receipts tax and net profit taxed. if you look at a study done by pew found that philadelphia has the fewest small businesses per thousand residents of any big city in the country, san

francisco 40, new york 30, dc 2, philadelphia 18 and even democrats are getting upset about this. i talk to a democrat today who worked in the city controller's office, one party will, democrat in philadelphia is killing the city and specifically killing small business. listen to what he told me. >> a growing business, hard to thrive. you get to a point as a sole proprietor a business owner that you say you can stay in philadelphia and make the government a full partner by paying the taxes or i can move it. >> what happens? a rental sign in the window. a lot of rent me signs. look at that wage tax. you pay a wage tax, you work in new york city but don't pay what they pay in philadelphia, it is 3.88%, largest in the nation of any big city and

makes up 40% of the budget. most of the tax property tax wages, people do in business, doesn't make sense but what do i know? i am from chicago. stuart: i am smiling because you did bring us something new. democrats worried -- >> trying to have a story today, i was trying to have a story that would make you happy because you are not having a good day. something we can agree on. stuart: i love to see democrats sworn about the high taxes they impose. it was a good report, thank you very much and then this. local mayor fighting back against the state's covid restrictions. what is going on here? ashley: baker city, the mayor declaring a common sense sanctuary, carry mc questin declaring a state of emergency

in response to oregon governor's restrictions, banning indoor dining. enough is enough, take a listen. >> the common sense into reality was brought forth by citizens and business owners, these lockdowns and mandates are hurting our people more than the virus. ashley: local businesses say they are backed into a corner. they can shut their doors and go out with a whimper or they can fight back. governor brown acting on the latest data trying to save lives. stuart: good stuff. that may or will join us show

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1-800-217-3217. that's 1-800-217-3217 stuart: it is a selloff. it is holding, it is down close to 400 thes, that is a major selloff in technology stocks, look at them now. big tech especially taking it badly. down $5 on apple, down $100 on amazon and facebook is down $9 and on and on it goes. this is a major league selloff, google down $83, microsoft down 587, that is a selloff. we are seeing more incentives to get the jab. the latest the free beer if you

live in new jersey. michael guns all in -- gunzellman, a shot instead of vaccine. >> as you just said forget the petrone but rather the covid 19 vaccine shot. for companies trying to incentivize people to get the jab and yesterday new jersey governor phil murphy announced a new program that would allow anybody who gets the vaccine during the month of may to go to a number of different bars and breweries they partnered up with and get a free beer. there is incentive raise their as they get the vaccine. there is also monetary solution as well. west virginia last week announced they are working on a plan for anyone between the

ages of 16 and 35 and just yesterday maryland governor announces they would give $100 for each state government employee that gets vaccinated. that is supposed to cost $5 million. not sure where that money will come from but that is what they are trying to do. to get people to take the vaccine. i took the vaccine, i want to know where is my money, give me $100. stuart: i want to know if you've not got a shot yet when you get a shots to get a free beer? >> absolutely. i love having fun. i would do it in seconds but we are seeing other companies try to get involved as well so krispy kreme, you get a free

donuts, kroger's and publics giving $100 gift cards to workers to get vaccinated and how about this? marijuana companies are giving people pots and joints and things like that if they prove they've got the covid vaccine. stuart: i am not asking you about that. >> i will stick with the drink. stuart: what a guy, you are all right, see you again soon. quickly, got to get to walgreens, they have a deal, partnership with doord- and uber. ashley: he gets paid in beer anyway. partnership, this partnership will provide same-day delivery in under 2 hours for retail products, purchases made online or via walgreens apps will be packaged by store workers and

picked up by delivery drivers. there will be no minimum melts and in most cases customers will pay a delivery fee of $7.99 could go to walgreens. so you ask what is in it for doordash? they are encouraging customers to tip up front on it's apps because some of these drivers are avoiding taking delivery orders or retailers whose customers are unlikely to tip so there you go. stuart: why am i not surprised? under to our delivery has got to be pretty good. it is time for the tuesday trivia question. this is one where i know the answer. what is the oldest city in the united states? i know, i know but we will tell you all after this.

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is stuart: what is the oweddest city in the united states? the answer? here we go. st. augustine in, florida. that was founded in september september 1565 by spanish explorers, 42 years before jamestown in virginia and 55 years before plymouth massachusetts. story of the day, no question about it is the selloff on wall street. janet yellen said this morning interest rates may have to rise. as soon as she said that, the market headed south big time.

what you have is a nasdaq down close to 3%. nearly 400 points. the dow is off 262 as we speak. that ladies and gentlemen, is a sell qualify. sorry i was in such a bad temper all day long. i will try to explain myself in "my take" on this tomorrow. meanwhile, here's neil. sir, it is yours. neil: you're right, that you have a bad temper is not my idea of a bad temper. i'm just saying. people citing bad temper out of stuart varney. they have not hung around italians very much i will leave it at that i look forward to your explanation, stuart. you're a great man a good man, not a very angry man. i don't know where that is coming from. corner of wall and broad maybe a reason some people are a little angry, we have a selloff going on in the corner of wall and broad. as stuart mentioned, janet yellen kind of stated the of obvious her