tv Varney Company FOX Business May 7, 2021 9:00am-12:00pm EDT
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pretty much in every segment of this economy except hospitality and leisure dagen mcdowell brian brenberg- joanie, jon hilsenrath steve moore ryan main edward lawrence thank you so much for a great all hands on deck jobs friday that will do it for us have a wonderful weekend everybody i see you tonight on wall street on sunday, on "sunday morning futures" we have you exclusive program coming up varney & company begins right now take it stuart: good morning. this is not the rocketship employment economy we thought it was. analysts got it completely wrong. instead of 1 million jobs created we had 266,000 and the unemployment rate went up to 6.one%. what a disappointment. obvious question, and we are
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paying people to stay home, 4000 came into the workforce. and before the numbers the dow is up 100 points, that is a reversal. look at the nasdaq. in format his gain at "the opening bell". that is big tech is going up and yes it is. apple, i will go through these, apple is at 131, amazon 3349, facebook 324, and that is a very strong rally. look at this.
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the yield on the 10 year treasury down one.52%. at one stage it was 148-149. and tech stock investors love it. marty walsh will join us on the show at the 10:00 hour, president biden will make a statement at 11:30 eastern time today. they will use these disappointing numbers to push for the full $4 trillion spending plan. they will say they need it. elsewhere on the show today the great patent giveaway, the president gives away an american triumph, and gets nothing in return. republican states doing much better than democrat run states. florida and texas showing up,
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that is 266, and it is up, there is going to be mash in -- massive revision to that number because where they never came from, i don't know if there's more information than i do but mind-boggling to think that. stuart: does it affect your market analysis going forward? you have been on the war many times, this thing is going up, does this affect your forecast for the market? >> it will do that and it is going to cause the fed to say we are not going anywhere, very accommodative and the economy needs it.
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and look what happens, the tech is afraid that rates are going to go up and do something or inflation will rear itself in the head. if you focus on this report you get the opposite reaction which is what you are seeing, stocks are getting pummeled in the nasdaq is better than one%. stuart: i will bring in susan for closer look at big tech. we've got it on the screen. all of it way up. >> this is where bad news is good especially for big tech which has been selling off because of expectations and guarantee money on 10 year government bonds. on these government notes that makes big tech look more risky and expensive and just to give you some analysis we are begging at the biggest miss in
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non-pharma payroll and estimates going back to 1998 so that is 23 years back, not just in the 10 year treasury yield, that's a big decline, we saw a selloff of 10 basis points, also the dollar is trading at its weakest right now. more stimulus and money printing, and in 2023, that is 2 years from here and we will get some move in interest rates. stuart: i will not bring up the idea of expectations, this is dealing with a classic example of the analysts and community we talk about, their expectations investors, that is what happened. >> a quarter of the jobs that
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were predicted 266,000. that is the widest gap in prediction and reality in 23 years. stuart: let's get back to kenny. go ahead. >> the adp report didn't miss by that much with a slight miss which is wednesday's employment report which gives a precursor of what to expect. maybe you were expecting some weakness and it is so far out of the mark it doesn't make sense, you have to completely ignore it, someone doesn't know how to count. stuart: would this make you go out and buy any of the big tech companies on the screen right now? >> the 5 big tech companies a couple of them i do own because
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they are foundational stocks in the portfolio, apple and microsoft and the other ones don't mean they are not going to search, clearly they are because the expectation, normally more stimulus from the government but the fed will maintain these low rates and accommodative policies at least as long as they originally say. it will be off the table. stuart: disappointing jobs numbers means government money will flow by the trillion. that's an interesting point, a plus for stocks across the board. >> that is but it is a negative for all of us who have to figure out how to pay that bill or get that money to pay to continue to pay and you said it at the top of your show when you talked about if it is realistic, why do that? people can make more money by staying home. mcdonald's was paying $50 to
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just show up for an interview to work at mcdonald's and people didn't show up. think about that. i'm paying you to come to do an interview and you don't want $50 to do the interview. stuart: that is extraordinary. good stuff today, thanks a lot, we believe you to the with your clients in the market the rest of the day. i'm going to take a look at some of the other sectors and how they are reacting to this news about a disappointing jobs report. the big banks, goldman, jpmorgan, morgan stanley, all of them on the downside better than one% that is what happens with lower interest rates, doesn't help, the retailers, not much of an impact, no direct impact between disappointing jobs and retailers and not much stock price for amazon, walmart, target, etc.. the airlines down. may be we are not going back
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out and mingling and mixing and traveling quite the same when you have a disappointing jobs number, that's the explanation but the airlines are down. the price of gold, we have wage inflation, hourly wages up 0.7% and gold reacts to inflation, to $1,830 per ounce. back to the 10 year treasury, a lot of movement this morning, one stage, one.48%, it is up to one.53%. the key point is it hit a 2-month low earlier this morning. because of those job numbers. here's what is coming up on the show other than jobs numbers. the ceo of jpmorgan, the big banker, jamie dimon, if lawmakers plan to raise taxes they better explain where the
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money is going. role tape. >> it doesn't work. we waste tremendous sums of money. we owe the american public to tell the american public. stuart: aoc, alexandria ocasio cortez, has a problem with that, she doesn't think congress doing that. the jobs report, we will be discussing that for the next half hour, that was a shock and a half. the dow is down 17 but the nasdaq is up over one%. there is a rally right there. more varney after this.
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stuart: a little rolling stones as we look at denver, sunny and 48 degrees. big surprise in the jobs mark, a big surprise. edward lawrence, digging through the numbers, have me the numbers. >> last time was january of 2021 with 233 jobs, the unemployment rate picked up to 6.one%, the unemployed people rose, number of people jobless, less than 5 weeks was up to 2.4, those jobless 15 to 27
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weeks fell 188,000. under the hood here is what you seeing in the job gains we did get. transport station and warehousing down 74,100, manufacturing down 18,000, retail down 15,000, 111,000 jobs, there was one big game, leisure and hospitality jobs gain 331,000 jobs, most of that in food and ranking places. the average hourly wages rose 0.3% over the past 12 months, not keeping up with the pace of inflation. the federal reserve said sectors like drivers, housekeepers, manufacturers is where workers are needed, 7.4 million job openings in the economy, 10 million people who are unemployed and this disconnect with those companies wanting to hire but workers staying on the sidelines is one area economists will get into this morning. stuart: you looked under the hood and it wasn't exactly pretty, was it?
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you know what we need? and economies to. we've got one. how do you explain this? is it because we've got people being paid a lot of money to stay home? is that is why it was a disappointing report? >> that is part of the reason, look where jobs came from, leisure and hospitality, that is where the biggest problems with workers entering the workforce but supplemental unemployment benefits. leisure and hospitality, the gain of 266,000 new jobs. maybe economists are guilty of making a mistake of leaning too heavily on these industries to
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be reined in by covid especially the service sector, leisure and hospitality meeting us to grow in excess of 5% in 2020 when. stuart: which leads me to this question, can you call us a rocketship economy when the unemployment rate actually goes up? >> know you cannot. increased by jobs, 1 million new jobs in april, 266,000 jobs. i have been doing this job since the mid-1980s and never before have i seen such a big mess by the consensus when it comes to the employment report. maybe this report is off, we did get an estimated gain of 740,000 new jobs from the adp report for the private sector. also we are getting upbeat soundings on employment from the surveys, and manufacturing
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in the service sector. we could be guilty of having made the huge mistake of be leaving leisure and hospitality to lead us through prosperity later in 2021. stuart: you know what is going to happen now, the administration will need $4 trillion worth of spending in this economy because people are hurting, they have a case to make and they will make that case. more spending is coming. >> that is what they will state. the big question is how are we going to pay for this increased spending, tax hikes that can slow the economy later this year and go into 3-22. we tried stimulus. stuart: don't care about paying it. they just say the fed will bail us out, that is what they are
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going to say. >> and the fed could say inflation will go ahead and bring as much money as we want, looking at the fastest money supply growth, currency, bank deposits and money market funds since world war ii and lesion remains if you ignore industrial commodity prices going through the roof and ongoing surge by residential real estate prices. stuart: interesting times isn't it. stuart: we are condemned to live in interesting times. president biden throwing around a new number, but a corporate tax rate, watch the number. >> 25% sounds negotiable, doesn't have to be 28% which
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wall street was expecting any way hitting record highs in the stock market this week with middle ground the white house has to offer to get moderate democrats like joe manchin in the split senate, the most costly number president biden has thrown at is 25% but a tax foundations is 25% will raise $500 billion the next nine years, coming from the white house and also the statement yesterday, doesn't want any deficit spending, where is cass going to come from to make the difference in proposed bills. stuart: there i suggest the federal reserve will print it? that is what he's going to do. >> how do that way on the economy, deficits and debts matter. >> do you think democrats care what happens to the dollar. all they care about is printing a ton of money and buying
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votes. sorry, susan, out of time. look at futures, up for the nasdaq and the high -- president biden time and again ignored the media's questions. watch this. >> we will move out. >> thank you, mister president, time for the crystal leave. >> last question i will take and i'm going to be in trouble. stuart: it is all on purpose, the white house admitting they tell the president to avoid impromptu questions from reporters. ♪♪
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>> we have to stick to the trend, one sparrow does not make a spring. this number was a huge miss, almost the data could be compromised. the trend has been up to the economy and the stock market but there are a lot of worries and inflation is a worry, the cost of lumber at an all-time high, that impacts the economy, and welfare benefits, and 20% of dollars last year. to help and stimulate the economy, the slower the economy is going to come.
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stuart: the administration uses disappointing numbers pushing for much more spending, $4 trillion, spending because we needed. 90 seconds to go before the market opens, i've got to get in dogease of the coin. are you going to watch musk on snl tomorrow night? >> he's no phil hartman or john lovett. those go up 12,000% this year. on january first, 120,$000 now. the magazine cover indicator, it is on the cover of a magazine, usually that is the top. i this appearance is the same thing. stuart: it is fascinating. if you have a couple dogecoin in your crypto wallet, are you going to sell before musk's appearance, i don't want to speculate on that any longer.
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25 seconds to go, we will open trading this friday morning, down for the dow and up for the nasdaq. why is it going up? the yield on the 10 year treasury is down to one.52%, 152, tech stock investors love it and that goes big tech. now it is 9:30 eastern time. very very early going, roughly half the dow upside and the s&p 500, not much change, and one.4%. and look at it go.
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and a lot of thing we're showing you, on the upside coming in, explain what is going on. >> the nasdaq underperformed this year. it signifies the economy doing better, that depresses these treasury yields, not much guaranteed money on us government bonds and that makes big tech not look as risky or expensive. i would point out pairing back a lot of the gains we saw at the jobs report, that spike, a drop across the entire board and even if we are up 9% today big tech, the nasdaq is still down for the week, looking at losses of 2%, still
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underperforming here. stuart: the jobs numbers spread across the whole market. the dow now down 70 points. i wonder if there may be signs we are not as vigorous in our recovery as we expected. there is disappointment across the board. talk to you about cryptos. goldman and jpmorgan, there you go, drags on the dow. let's get to goldman, crypto announcement. >> unveiling a new crypto currency trading team announced in an employee memo sent out but this is newly created trading desk trading to kinds
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of bitcoin argument linked derivatives, if we have institutional like goldman sachs getting into crypto and there's more services being offered you can imagine that also brings along interest and price goes up with more people interested in crypto. given gold prices did jump up after that miss in employment numbers. it is across the board. stuart: doge i am looking at $0.61, changes rapidly. >> counter to that you show the financials. they are proxies to how well the us economy does and how it grows from here. that shows the reopening may be not coming as soon as people expected. looking at the selloff now. interest rate expectations, after those jobs numbers people are pushing out the federal
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reserve forecasts, the first bull rate hike until 2023. in the middle of 2023. you have two years to go. stuart: that is a long time, and eternity. american express, not such a big loss. one dollar and $0.48 along with other financials. one stock is surging. i call that a surge. roku up 17%. is that because disappointing jobs numbers, more people staying at home streaming. is that the story? >> have you looked at the market share roku has, the dominant hardware choice, 40% market share, not only did roku report surprise profits in the first 3 months of this year sales were huge, reporting 53 million active accounts, 18.3 billion hours during the quarter. isn't that incredible and they
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are saying streaming demand will continue and why the company is expecting to make money again this spring which wall street had not anticipated. stuart: let's take a look at square. they are up this morning. is this like paypal, a play on bitcoin? >> crypto a boom for jack dorsey's of the company, they made twice as much money as wall street forecasts, sales jumping 266% thanks to crypto. actual bitcoin holdings hold around $170 million or they bought $170 million worth, lost $20 million on that bitcoin investment for the quarter, the value did go up close to $500 million, they paid hundred $50 million worth $472 million so that is appreciation which is kind of the point. stuart: a nice bounce. take a look at dow winners, 30 stocks on the dow and here are
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the biggest winners, nike up to prison, amgen, salesforce, they are all on the upside. the s&p 500, the winner is expedia. pay, software rounding out the top 5 winners. the nasdaq winners, microchip tech etc. all the way down the line. i will let you read them. i want to look beyond meet, very interesting, way down, 6% lower hit by slower than expected return of customers. we report on the show a lot, pizza, fast food chains, they did well during the pandemic and apparently they didn't eat much beyond meet and it is down 6%, 111 per share. shake shack, the ceo says urban folks will be coming back, investors don't believe him, stock is down 12%.
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shake shack at 93. after 6 minutes worth of business the dow is dead flat, the 10 year treasury yields one.53%, it had been 148-149, the price of gold going up nicely, $18.29, $13 fire and bitcoin moving higher. some people call it the new gold, it is up 57,$000 per coin. as for oil, where are we 65, 66? $64 a gallon but the price of gas still going up. and we are up 114. it was this time last year. stick around to the end of the show, we may be answering your questions. the ceo of jpmorgan, jamie
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jamie dimon is weighing in on tax hikes. >> he's concerned the excessive tax increases might hurt the us economy, to spell it out, and where will it go and why? >> and we already have that money. i would like to tell the american public if i give you the money i will be a good steward of it and accomplish the report back to you just like the disclosures you are asking us to do. >> alexandria ocasio cortez taking the opportunity to criticize rich bankers like jamie dimon, she wants $10 trillion of spending at not just $2 trillion.
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jamie dimon didn't give working people an itemized list, and affordable housing projects helping to defund when you push the $2 trillion tax scam, and and one of the fastest growth rates in the us, the jobless mark was the best in 50 years or so. stuart: she wants $10 trillion, it is as simple as that. we've got to get back to jobs report, huge disappointment. peter morici is with us. what went wrong? >> there's something wrong with the number.
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and manufacturing, how do you lose 20,000 jobs in nondurable goods manufacturing, the retail sales we have. with the kind of retail sales we have it just doesn't make sense, either that number is right, that doesn't work out. stuart: do you see this coming at all, you have projections of your own? >> 900,000, the adp report, the most precise indicator but it was directional and came in with a big number, starting to wonder about that, it isn't going to happen but isn't making sense, every other indicator shows the economy
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growing rapidly, you would expect some sectors not to hire. restaurants can't get workers at the hospitality industry gave all the growth. >> subject to major revision. we had maximum growth in leisure and hospitality even though we are paying people money to stay at home. there's something contradictory about all this. >> look at these real-time indicators and to the studio, how much traffic there was. when i ride my bike i am dodging cars again it doesn't add up. the economy is on sound footing at the market is overreacting by putting out a change in the federal funds rate. my feeling is we will get more
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inflation, supply chains are choking everywhere. name me someplace to get enough of it. you can't be in that situation and making less, the layoff report was down for example. it doesn't add up. my feeling is the economy is moving along on a sound footing and we will get a big growth number this quarter and come july when the profit numbers come out we will have new year's eve july 10th on the varney report. stuart: we will do that. very interesting stuff, calm into us all down, the market has recovered from its earlier bounties, dow is up 100 and the nasdaq is no longer up 100. peter morici, thanks for being with us, always appreciate it.
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twitter, what is this feature -- >> a tip jar, there are a select few accounts, to receive money, and then able these tube chars for cash. and technology, twitter and square the we just talked about so the tip jar will allow transfer of money from specific payment companies like band camp, cash, paypal and on android, you can send money to an audio competitor to clubhouse. and twitter does not take a commission or cut of a free. you want to pay me to stop tweeting, i can do that. stuart: i am tempted.
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let's get back to the market. an extraordinary day so far. lit "cavuto coast to coast":30 this morning extraordinary jobless numbers. instead of 1 million jobs we have 266,000. that is a disappointment and look what happened in the market, the dow industrials at a brand-new all-time high, 34,637 and the nasdaq is back up 150 points, 13,700. nike, salesforce, microsoft, these are huge winners on this friday morning. next, did you hear this? and ohio lawmakers try to hide the fact that he was driving during the zoom meeting. the meeting was to debate a
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bill about distracted driving, i'm going to use a cliché, you can't make this stuff up. lawmakers want to spend your tax dollars in their district. it is called buying votes. we brought you some of the outrageous items of pork yesterday. today we bring you even more. ♪♪ that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good.
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and $1 million going to renovate one facility going to another facility to renovate and relocate that one. that is not the only thing, that is publicly controversial and political requests that are surprising in terms of how much they are asking for and what they are getting. there is one request from congressman raul jollya who wants 40,$000 from appleton 325,$000 for string lights to put along the roadway so there is a consistent look between what is existing now and what he wants to put there and that is string lights and lampposts. >> there's a lot more where that came from. thanks for digging through the pork.
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we've got that surprise, huge disappointment in the jobs report and look what we have got now. new high for the dow industrials 34,600, solid gain for the nasdaq up 0.8% and a nice gain for the s&p too, green across the board. despite the disappointment. marty walsh will join us in the next hour. hilton and kayleigh mcenany. ♪♪ we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right.
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♪ baby, give it up, give it up, baby, give it up. stuart: new york city, empire state buildingment good morning, everyone. straight to your money, it's a big, big day. the dow and the s&p have already hut all-time highs, and we've only been open for business a half hour. now, that's kind of a contrast to the news of the day. the news of the day is the april jobs report, only 266,000 jobs ad. that is a huge miss from what the analysts were expecting.
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they said we're going to get over a million new jobs, we didn't. what a miss, 266 only. the 10-year treasury yield initially fell to 1.48, 1.49, now it's bounced to 1.54, or but it's still below the 1.60 level. the yield is still down, and that gives big tech something of a boost. most of the bug names are still higher but not all of them. okay, apple, amazon, facebook, microsoft, they are on the upside. tech investors like lower treasury yields. that's what we've got, big tech's rallying. now this. president biden is giving away the know-how to produce reliable vaccines. he's going to give away the knowledge we pay for. humanitarian? rich, powerful america helping the rest of the world in its time of need in dead wrong. it is an empty and dangerous
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gesture. for a start, it'll take months if not years for other countries to build reliable vaccine production facilities. there'll be no sudden jump in vaccine production. giving away the patents will not help india with its current crisis. pfizer, moderna, astrazeneca, they're going to produce 7 billion doses this year with more coming from j&j. that's enough to inoculate the planet. and when they've got the knowledge, india and china will just turn the around and make a profit out of american taxpayers' multibillion dollar investment. they got the knowledge for free, and now they'll profit from it. they must be laughing in beijing. who will guarantee quality? other countries don't have the same production safeguards. contamination would ruin public confidence. who will invest in pharmaceutical innovation if you can only just give it away? that's what biden's doing, giving away an american triumph, giving away the secrets of america's biotechnology supremacy and getting nothing in
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return. the left is behind this. senator warren, bernie, aoc, they're sending us all on a guilt trip. we're bad if we don't share. i'll end with this from the "wall street journal"'s editorial board. quote: this may be the single worst presidential decision. end quote. strong stuff. and, in my opinion, dead right. the second hour of "varney & co." is about to begin. ♪ ♪ stuart: tammy bruce is with us this friday morning and, i hope, listening to my take there. tammy, i think this is just virtue signaling on a grand scale. >> it's that, and you're absolutely right with your monologue. but it's more than that as well. it is, i believe, an effort to really make sure that america
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does not do well as a result of this. keep in mind that the only country that is really ready to start churning ott out generics is china. and don't forget, at the beginning of the pandemic we got a lot of ppe from china which was no good. it was a disaster. these were masks that would not work, were not up to the snuff. the coverings for our medical workers were not good enough. and this is now what the world is going to face, whether it's the haiti or the african continent or any other entity, any other country that is reliant on another country will be swapped with counterfeit vaccines, will be wamped with whatever china -- swamped with whatever china throws together. it will be thrown into the world, as you've said, creating a complete lack of confidence in the nature of pharmacies and everything else. so this is the our issue.
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in addition to the that american taxpayers -- the fact that american taxpayerses funded this in large part, clearly, with operation warp speed. and why would a pharmaceutical company move on issues like an alzheimer's cure or cures for cancer if they feel that it's going to be liftedded from them and thrown out into the world? because the issue about wanting to create magical cures is because you will get a profit. and then that money, stuart, goes back into the system to create more musculoskeletal r products -- more products. astrazeneca, johnson & johnson, moderna, pfizer are going to lose that investment funding for other cures that they're looking for. china is not going to do it. their incapable -- they're incapable of doing it. this is, i think, malevolent. and you know why in pa part? because trump made it happen in the first place. so they --
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stuart: exactly. >> -- want to just throw it out, condemning millions of people around the world, condemning them. stuart: you got it. that's an element i missed from my monologue, but you're quite right to include it. it's right there. i want you to listen to what jen with sake a -- jen psaki about president biden taking impromptu questions from reporters. >> that is not manager we recommend. in fact, a lot of times we say don't take questions, but he's going to do what he wants to do because he's the president of the united states. stuart: what happened to transparency? tammy if, tell me. >> all of that from the beginning to now and to the end because he's got three more years to set the country on fire is that all of it was a fraud ranging from him being a moderate to working with the republicans. that's what the more than people apparently voted for. that was a fraud. saying that he was going to, you know, make the difference with the coronavirus and now we've got him throwing out the
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vaccines and creating that issue. all of this has been a fraud. they don't care how they get into power. they will say whatever they need to say. we saw it with obamacare. they will say what they need to say, and as jonathan gruber said at the time, one of the architects of obamacare, they relied on the stupidity of the american voter. it is a level of contempt that is on seen. -- obscene. the american people must continue to reject it and demand -- and the press at some point, there are a few out there who demand to be the able to ask questions and get some answers. but, my goodness, we sure are learning a lot, stuart, about the media, about how far they've fallen and about what the democrats are capable of doing. stuart: tammy bruce, i hope i never cross you. [laughter] welcome back. good to see you again -- >> you never will. stuart: see you again next week. [laughter] stuart: watch out. >> thank you, sir. stuart: thanks, tammy. see you soon. new high for the dow industrials, and i see peloton moving.
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susan: yep. stuart: i think it's moving up, actually. supersusan a lot. they're saying that the treadmill rerecalls will only cost them $165 million in sales, not a lot, because sales are blockbuster, by the way, in the first three months of this way, more than doubling, and peloton's still going to make money. amc entertainment also going in the up directioned today. look at this rally. the ceo said the recovery when it comes to mauve i have chains and theaters might come sooner than anticipated. this summer, in fact, thanks to more vaccines and big budget releases again in the hot her months. and finally, jeff reese calls it a buy after a perfect match, and they say the stock is worth $23, stu. in that's roughly, what, 40% more from here. stuart: that's a gain and a half for tilray, the cannabis people.
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thank you, susan. tomorrow night's the night elon musk hosts "saturday night live." we know some cast members are not happy about it, but one of them is defending him. why should i care about this? susan: well, have you looked at the crypto market? it's going crazy running up to the "saturday night live." so pete davidson actually said elon musk got a special reception from snl, the first host to be invited to the traditional cast dinner. and davidson says he's excited, also confused over this controversy. >> we didn't discuss it, we're all just like why -- i just don't understand why this is the dude everyone's so freaked out about. >> i thought i missed something. dud he say something, did he do something? >> what did he do? he's just a really wealthy businessman that makes nerd [bleep] i don't know, he's really nice. i'm excited.
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susan: yeah. so musk has been signing autographs, rehearsing in new york city ahead of that show on snl. musical guest, as you see there, is miley cyrus, both filming that commercial for the encode. but you do have those cryptocurrenciesallinging into saturday night. even david spade tweeted out i wonder if it'll be a 90-minute infomercial for dogedown can. buying as -- dogecoin, buying as we speak. you don't want to miss out on the spike, this is. kind of the yolo economy, right? you only live once. i don't want to miss that. if my friends are going to make a lot of money, i want to as well. stuart: okay. have you bought dogecoin, susan li? susan: well, we can't disclose our own private portfolios, stu -- stuart: i do all the time. i tell everybody i own microsoft. susan susan you're the anchor, it's different. you will have this runup heading into saturday night, but what happens in the week afterwards,
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that's the concern that i have. will it crash from the 60 cent levels. stuart: if i own dogecoin right now, i'd sell it right now. susan: right now? stuart: yes, i would. susan: you wouldn't wait until saturday? stuart: no, i would not. profit off the table. one day you'll tell us exactly what you do invest in. we'll wait for that investment. thank you, susan. [laughter] chaos erupting even before the floyd mayweather bout. watch this. >> oh! >> chill, chill, chill, chill. stuart: i'd call that a brawl. and we're going to tell you what it was all about in a moment. call it multitasking. one state senator caught zooming while driving. [laughter] it was the seat belt that gave
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on the nations fastest, most reliable network. ♪♪ stuart: a chronic disappointment in the jobs numbers, and look what we've got, a strong rally all across the board. new highs for the dow industrials and for the s&p 500. look at the dow, 34,700 right now. the winners among the dow 30 -- yeah, the dow 30, nike, cisco,
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microsoft. big tech, all of them still higher. apple, amazon, facebook, alphabet and microsoft. all of them higher. microsoft, 253, up 1.4%. and then there's this: president biden issued a proclamation on a national day of prayer, but there was one word missing. that word? god. alveda king, niece of martin luther king jr., joins us now. alveda, it's great to see you again, ma'am. why did the president miss out that word? >> stuart, maybe he believes that it's possible to do things without god. now, we know in business, in government, in every area things go better not with coke, but with god. so by leaving out god, he's defending our human effort to accomplish all these goals, dis. mantling this nation, by the
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way. i think he really hoped that nobody would notice he left out god and then, oh, i think this is just a little thing. no, it's not. as a matter of fact, we still are have -- -- [inaudible] leaving god out is not a good solution. and so what would he put in place of god? we need to try and find out, don't we? stuart: yes, we do, ma'am. yes, we do. and i'm going to change the subject. because you know, alveda, that sunday is mother's day. and you, you have a new fox nation special for mother's day on sunday. bear with america alveda, i'm just going to play a brief clip for our audience. roll the talk about. >> okay. motherhood is marvelous. i've not lost the thing by being the mother of these fabulous children. there are six of them living and about eleven grandchildren at least. and so it's an exciting life.
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so i want to say happy mother's day to every mother. stuart: you are ahead of me, alveda. i've only got ten grandchildren. you're way out front -- >> absolutely. my mother is going to be on the show. and she's going to talk about making a decision not to abort me, but to keep me. that's kind of bold for a show, but she'll be on the show, naomi king, and i'm cooking. it's not a cooking show exactly, but i am cooking for mother's day, stuart. stuart: are you going to cook your special dish? i understand it is scallops and get ups. are -- and grits. are you going to do that? [laughter] >> not on this show, but everybody was doing shrimp and grits, so we came up with scallops and grits. for father's day we are going to have some skewers with scallops on it. i like scallops. stuart: alveda, we just love having you on the show.
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you bring that spiritual vibe which we badly need. we really respect who you are and what you do. >> thank you. stuart: we'll be watching. alveda king's house: mother's day special. it is available on fox nation as of right now. our special thanks to al seed that. now this, left turn here, comedian billy crystal, he doesn't like cancel culture. ashley, good morning to you. what is he saying? ashley: he's calling it a minefield. good good morning, stu. billy chris call said, quote: i don't like it. i just keep doing what i'm doing, and that's all you can do right now. it's a totally different world, he says, and it doesn't mean you have to like it, which i think is pretty, pretty much spot on. by the way, billy crystal is the latest celebrity to criticize the cancel culture which you wouldn't expect from liberal hollywood. but they do note that you can effectively end your career if
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you make an off remark or did something in your past. by the way, crystal was also asked about this year's much-criticized oscars as, you know, which he has hosted, as you know, a number of times. he responded, were they on? [laughter] classic billy crystal. stuart: well, fewer people watched the oscars than the kentucky derby, and i think that tells you a lot. have you got more on this one? we've been running this video all morning. an ohio legislator tried to fool people that he was on a zoom call but, in fact, it was a dead giveaway -- [laughter] he's got a intelligent on. take me through the story. alabama -- ashley: my first line was he's wearing a seat belt. this is hilarious. andrew brenner signed on to a meeting via his phone from the front seat of his car with a virtual background of his office. it's pretty obvious he's driving
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even without the seat belt, but at one point he unmutes his phone to register a vote. brenner defended his actions, by the way, saying, no, i wasn't distracted. i was paying attention to the meeting like listening to a radio station, he said. but even better, this is the delicious irony of this. on the same day two of brenner's colleagues were introducing a bill at the ohio state legislature to crack down on cell phone usage and distracted driving. it doesn't get better than this. classic. stuart: no, it really doesn't. a well-told story, ashley webster. that was pretty good. ashley: thank you very much. stuart: thanks very much, indeed. all right, let's get serious. one father pulling his daughter from a fancy new york city school over its woke curriculum. he's here with a warning for other parents. first, though, looking for a summer house steal? jeff flock is live on the beach in delaware. i bet ashley's jealous of this
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stuart: the jobs report, 266,000 new jos in april. that was a huge miss. the analysts were predicting over a million new jobs. labor secretary marty walsh joins us now. mr. secretary, first of all, thank you very much for being with us on fox business this morning. we do appreciate it, sir. >> thanks for having me. toure institute explain for our viewers this incredible miss. it wasn't a million, it was 266,000. can you explain it? >> first of all, i didn't predict a million jobs which i think i'm grateful for that. under normal circumstances 266,000 jobs added to our economy would be a great number. unfortunately, we're not living in normal times. when you look at where we're headed in this country, we're headed in the right direction. the last three months, if you average the last three months, we've added 500,000 jobs per month, over a million and a half added in our economy the last three months compared to the previous three where we added
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about 60,000 per month, but we still have a ways to go with, no question about it. there were some bright signs in this report, it showed that more people looked for work in the month of april than in the previous month, and the area of hospitality and leisure, which includes restaurants, have the biggest gains. so there's some real bright spots as we move forward here. stuart: if people are staying home because they're making more money by staying at home, perhaps you might want to consider not paying them these emergency payments. if they're staying home because the parents have to take care of the kids because the schools are closed, maybe start to open up the schools. if employers are unwilling to bring people back because of liability, maybe we should do something about liability. what do you say, mr. secretary? >> well, i don't agree with the first, really any of those points. i think that people aren't coming back to work because their job isn't there.
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it has nothing to do, in my opinion, or very little to do with unemployment insurance -- stuart: 7 million jobs, mr. secretary, there are almost 7 million unfilled jobs in this country as we speak. >> is i guess -- so i guess if i went with that assumption, i would assume that 9 million americans have have decided not to go to work which i don't think is the case. most people want to be back at work, they want to get their career. unemployment insurance is a temporary fix. with we did two plans here in this country. one was the cares plan back a few months ago when pandemic first hit, and the rescue plan more recently, we're still loving in the midst of a pandemic -- living in the midst of a pandemic. we do have issues around childcare. the president made a $30 billion investment in that about three weeks ago to get those facilities open. many of our schools are also open in this cup. some are hybrid, some are
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in-person living, and again, the pan deck imis -- pandemic is very much with us. on the liability side, you know, we're still dealing with a global pandemic. you know, your news here and the ones i've been on all day, you do report world wide news. you go across this globe, and every country's still in the midst to of a pandemic. stuart: the u.s. chamber of commerce is just now calling to end the $300 weekly supplemental unemployment benefits to address not going back to work. they want to end those payments. are they totally wrong? is. >> no. listen, i think we all want, we'd love to see unemployment insurance not being used at all. i certainly would love to see that. i would love to get every american eligible to go to work that wants to go to work, into a job today. i think what's happened here is that the economy shut down quickly in march of last year, and we've been opening and
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reopening showily. we've been dealing -- slowly. and i still think in the coming months we're going to see more and more americans go back to work and, hopefully, see our unemployment numbers continue to come down. and we also have to specifically look at specific segments, two million women have been pushed out of the work force. we still have lots of work to do in these different areas. and we need to work with the chamber of commerce, we need to work with the round table, work to make sure that we continue to push to get people back into the work force into jobs that are available for people. stuart: there is some speculation that there's something wrong with the numbers, the preparation of the numbers to account for such a huge miss. do you know anything about that at all? >> no. you know, i get briefed just like you do, a little while ago, about 45 minutes ago. so we looked at the numbers, we're looking in different areas. and i'm sure as the day unbolds there'll be some clarity behind maybe what you're talking about,
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some of the concern people have. and, you know, again, these numbers will be dissected for the rest of the day, so hopefully we'll be able to get a better understanding of what's really happening across this, the different economic business areas. stuart: mr. secretary the, i just want to thank you. very much for being on the program today. i understand this is a very big day, and you're as busy as the day is long. with we understand that. thanks for being with us. marty walsh -- >> thanks for having me. thank you. stuart: yes, sir. you got it. all right, back to the markets because it is a rally. it may be a huge miss on the employment front, but on wall street it's a rally. the dow's at 34,700. all-time high. the s&p, 4,230, all-time high. and we've got the nasdaq way up as well with. what have we got now? that's the s&p 500 winners headed by expedia, up again. very solid gain there for the
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travel booking company. okay. you got the picture? plenty of green, it's a rally. now what are we going to do? we're going to head to the beach in delaware where the vacation rental market is hot. got that? it's really hot. jeff flock he's with us. he's talking to real estate agents. are they booked up already? >> reporter: they are booking up, i'll tell ya. it's getting crazy. in fact, i've got a house for you, mr. varney. take a look at the view you would get. this is the beach, i'll take you out there in just a second. but nurse, i do want -- but first, i do want to ask that real estate agent in the person of karen mall. this is an 8-bedroom, 4-bathhouse, a week for mr. varney and his family, how much? >> $17,000 a week during the prime. >> reporter: i think he could afford that. i want to show you the view, i also want to put some numbers up.
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stuart, you asked about how booked up they are. occupancy in march, which is tip clue not a great month, in 2019 before the pandemic, 58%. 2020, bad year, all agree. this year it's even better than before the pandemic, right? >> exactly. i mean, we actually -- summer ended up really good for us last year. i think by summer people were feeling maybe a little more comfortable with restrictions. >> reporter: and this year even better. >> and this year even better. even better. i think they feel safe coming to our coastal towns. i think our towns have done a great job with making them feel comfortable going out. >> reporter: walk me out down to the beach because these are the houses that are most in demand, stuart. and i tell ya, you can't really beat it. walk out your door, walk down to the surf and the sand and the sun. you bring your whole family out here, stuart. i think you could probably fit them in an 8-bedroom house, although i'm not sure.
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you're fairly prolific there. you might not be able to get the whole family in the house. stuart: i'll tell you this, i will tell you this, jeff flock, if i would take all of my six children and their spouses and my ten grandchildren, put them in a hotel on the beach for a week, it would be a whole lot more than $17,000, and that is a fact. gotcha. we're moving on. while mr. flock there tries to understand what just happened to him, we understand that the rush from the cities to the is suburbs is picking up again. never really stopped, but it's certainly going full strength now, and mitch rochelle is with us. he's our guy on real estate. he's a good one too. now, is this -- now, this renewed push out of the cities into the suburbs, has this got something to do with schools not reopening? >> 100%, stuart. in fact, i always like to do my informal surveys of realtors before my segments, so i asked the question, what's the number
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one question that they're getting from potential home buyers. they want to know the stories with schools, how open they were, what happened last year. it is the number one reason people are moving out of cities. in fact, factually in urban areas roughly 40% of schools are in some form of either closure or, you know, modified hybrid that equates to a closure. so it is the biggest issue for parents trying to figure out what to do in september. so they're running to the suburbs where schools are open. stuart: if the president gets his increase in capital gains taxes, if that happens, what impact on real estate? >> i think the big issue, and we talk about the it all the time, stu, is supply is what's driving prices up. well, you need people to put their houses on the market to create supply. and if people are not going to put their houses on the market because they're worried that that gain is going to be taxed, that's going to continue this supply problem in the future. this year's very uncertain.
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people don't the know if the capital gains rate is going to go up, whether or not it's going to be retroactive. so it is influencing people's decisions to list their homes. if you're a sickle person, a gape over $250,000 is subject to capital gains tax and $500,000 if you're married. the median houses is in the mid 3s, so half of the homes in america could potentially have gains embedded in them. it's going to hurt supply. stuart: i can't believe that 18 months after the pandemic arrived and we first saw it with real estate still dealing with schools closed and a capital gains tax increase that hurts supply. it just dragged on ridiculously. mitch, i'm sorry i'm out of time. it's been a very big day today. thanks very much for being with us, as always. appreciate it, sir. >> have a great weekend, stu. stuart: here we go again, the white house blauminging the media for calling the -- blaming the media for calling the border crisis a surge. watch this. >> -- it wasn't really a crisis,
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it was a huge challenge. but really a big driver was we understand and know the nature of some components of social media and media these days, and we just didn't want to feed into that. stuart: it's just our fault, obviously. congresswoman lisa mcclain is at the southern border right now. is she seeing a crisis? i'll ask her. chaos we rutting before -- erupting before the $100 million floyd mayweather/logan paul night. it was a brawl, obviously, but i guess that's good publicity in that business. ♪ ♪ after all you put me through --
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stuart: this month is asian-american and native hawaiian-pacific islander month, and to highlight the milestone the, susan has something special for us. susan: stu the, it's a great month to celebrate, rich history to look back on and cruxes to american society, but -- contributions to american society, but also a time to reflect with the recent rise in anti-asian violence. >> [inaudible] ♪ ♪ susan: the asian-american, native hawaiian and pacific islander community have come a long way each with their own cultural distinctions, but all contributing to america's long, colorful history. starting in the 1800s, the first settlers were sailing across the ocean to find riches in the california gold rush. more than 20 million asian-americans today traced their roots back to 20 countries in east, southeast and south
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asia. >> they really contributed to make this country what it is. >> including the transcontinental railroad, built off the lay -- lay above of -- labor of thousands of chinese. >> there are passages you can read of helping dig tunnels through mountains in the bitter winter. and bodies were found dead. susan: despite their cheap labor a across america, chinese immigrants were the first and only ethnic group to be banned by law from immigrating to the u.s. with the 1882 chinese exe collusion act. that may have also foreshadowed a dark period awaiting japanese-americans. more than 120,000 were locked up across ten internment camps in multiple states during world war ii after the attack on pearl harbor. most of them american citizens born on u.s. soil.
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>> during world war ii when japanese-americans were interred, the -- susan: the boom only started after the 1965 hart seller immigration act. it gave preference to highly skilled workers and helped launch the model minority -- >> people see asians in yen as high earners, highly educated, disciplinedded individuals. but we also have our new immigrant families who are coming here. susan: donna came here during that time and says he now lives the american dream. he's owned this restaurant in new's chaitown for more than 50 years. >> translator: there is nowhere better than america. of it's a dream. susan: but the recent rise in anti-asian attacks has many wonnerring if they're welcome here. activist don li i says asian-americans today have the
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opportunity that their ancestors did not, the chance to seek justice. >> people are afraid to leave their homes. but we are having the opportunity to speak out. susan: asian-americans, stu, make up 6% of the population today but also the fastest growing group across america. also crucial swing votes n. 2020 one-thursday of the population voted for president trump, and that's up from 2016. also down ballottings more importantly, swing vote there as well. so both sides of the political aisle, you could imagine, will be targeting this group in future votes. stuart: forgive me for asking, susan, but have you yourself, personally, experienced any hostility? real hostility? susan: disappointingly so over the past year, revisiting some incidents and names that i thought were relics of the past that i was called on the school ground or the playground. it's been disappointing to actually hear some of these derogatory terms once again.
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and i understand it. i mean, the economy has been decimatedded, but there might be some misplaced frustration and anger targeted at the asian community. stuart: well said. susan, thanks for a great report. susan: thank you. stuart: we appreciate it. thank you very much. all right, check the markets. it's a really. plenty of green all across your screen. the dow's up 34,000 -- almost 34,7. and the nasdaq's taking off, 138, a gain. twitter suspending an account posting former statements from president trump even though it has not no link to trump. former press secretary kayleigh mcenany on social media's censorship, and that's what it is. first though, one father pulling his daughter from a very expensive new york city school over its woke curriculum. he's here with a warning for other parents, after this. muck back in the classroom, open your books ♪♪ ♪
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northeastern viewers. we keep showing you beautiful florida beaches. [laughter] why not? it is now 78 degrees right there, and that is clearwater, florida. mostly sunny and, indeed, for the rest of the day. on my way, baby. now this, a parent in new york city pulled his daughter out of the $43,000 per year herschel school and then he moved to florida. harvey goldman is the man, and he join me right now. harvey, let's get right town to everett here. -- down to earth here. what was your daughter being taught that made you take her out? >> i started reading that they were sending these kids to learn about critical race theory, and i don't believe it's right. they're teaching these kids to be embarrassed of the color of their skin, ashamed of themselves. everything we've been taught our whole lives not to be ashamed of and that we should with all be treated equally, and they are not doing these things in these schools now. and it's awful.
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that kids should be embarrassed of themselves. stuart: i don't know what the situation was for your daughter, but i am told that in some schools white kids stand up and have to admit their privilege, and black kids stand up and, you know, recriminate against white kids. is that the case? is that what you're daughter was seeing? >> that dud not happen with my daughter but, yes, i've heard that is going on. i pulled her out of there before she got to that point. it's -- they are teaching similar things in the school, but i'm trying -- stuart: what was the -- it's very difficult, isn't it, e when you've got this delay, and we keep talking on top of each other. let's do this. what was the response when you left the school and moved to florida? >> the school had no interest in hearing anything i had to say. they just want -- you have no
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say in the matter. you don't know about our curriculum, we will do what we want to do, and if you'd like to leave, leave. they even offered me a full refund, which was pretty amazing. [inaudible conversations] >> i'm sorry. stuart: what about the other parents? is there real support in that school for what the school is doing? >> i'm getting texts and calls from parents who i do not know who are thanking me for pointing it out, who are telling me that their children are really having a hard time if they don't agree with this theory that they are being taught. stuart: have you found a school where they are not teaching critical race theory? >> yes. i moved down to florida. i had called the schools down here, and they basically didn't know what i was talking about when i asked them if they were going to be teaching this. which -- stuart: are you talking private
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schools or public schools? >> both. both private and public schools do not teach it down here, as far as i know. stuart: okay. harvey, look, we have a problem here with the delay, but we want to thank you very much for being on the show this morning and telling us what you were subjected toment we appreciate that. we want to bring you back. thanks very much, harvey. we'll see you again. >> appreciate it. thank you for your time. stuart: sure thing, sir. thanks very much for your time. appreciate it. tech stocks, let's take a close look. super's going to do that for us -- susan's going to do that for us. susan: not just the apples and the microsofts, but the high-tech, high-growth names all rallying today. take a look at this big move after that sharp drop in the 10-year treasury yield which went sub-1.50 this morning on that disappointing jobs report. these are growth stocks which mean they trade on future earnings and future potential, and when the 10-year yield goes highering it makes their future
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earnings look less. look at the comeback today after some, i would say some selling this week. stuart: okay. so we've still got them on the upside right there, gotcha. susan: yeah. stuart: dow's human 155. all right, everyone, a big hour right ahead. kayleigh mcenany, she's on the show, steve hilton'sen on the show. the governor of alaska, mike dun levy, and congresswoman lisa mcclain on the border coming up next hour. and it's been obvious for months, republican states have had more success dealing with covid than democrat-run states. i'm going to spell it out for you in my take, which is next. ♪ you make my dreams come true. ♪ well, well, w traded with a touch.
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>> i'm sure what happens next month will be a massive revision to that number. >> hospitality and leisure, the biggest problems. >> the more biden does to stimulate the economy the slower the economy is going to become. >> i wonder how much revision we will have before revision from 20,000 to 800,000 is going
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to happen but something isn't making sense. >> look where we are headed, we are headed in the right direction. no question about it. ♪♪ duval it is 11:00 eastern time and it is friday may 7th. let's get to the money. this is an important day. we have a rally on our hands and the big one too. the dow industrials and s&p shrugging off a disappointing jobs report, the dow, the s&p at all-time highs. really big gain for the nasdaq up one.3%. why is the nasdaq doing so well. the yield on the 10 year treasury has come down. as one stage it was 148-149.
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now - - much more successful in dealing with covid than democrat run state. bialas every measure texas and florida are doing much better than new york and california. anyone who has traveled to see and feel the difference. florida and texas started the great reopening, gave people the freedom to assess their own risk and act accordingly. governor desantis and abbott were roasted ford, stepped out of line with the covid crowd, lockdown crop they are laughing now, their states are booming, tax refugees are flooding in and covid is in the rearview mirror. what a contrast with gavin newsom and andrew cuomo, stark contrast, newsom faces a recall election because he made such a mess of california's covid reaction, 15 months after the virus hit only 16% of
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californians back in the classroom full time, that is a failure of monumental proportions and the effects will last 4 years. cuomo is under multiple investigations, one of which concerns the thousands of deaths from covid in nursing homes. and >> and different procedures, democrats bent to the teachers union. they can't resist hating trump and the bad policy choices, those bad policies for the media. texas and florida went the other day. so did mississippi and montana and doing well. montana's governor told us his state unemployment rate is all the way down to 3.8%. sum it up, democrats's top-down
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mandates and lockdown fear mongering took a lot of damage. republicans's bottom-up open up approach gave us the freedom to live our lives as we see fit. enjoy the weekend. i am going to florida. the third hour of dan gelber is about to begin. steve hilton is with us, our california guy. i was astonished to see only 16% of kids in california are back in school full time in the classroom. that is accurate, i think. i'm astonished by that. >> that data was published yesterday and even worse if you look at the details of that study, was even worse in areas
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of lower income with higher black and latino families. the very people the democrats constantly claim they are standing up for, racial justice, racial equity, we here at all-time, the exact same people who are suffering the most from these stupid policies. i want to go to the bigger point you make which is so important. if you look at this and see what does it mean for the next time we have something like this? we are not learning the lessons, nancy pelosi running around saying we need a 9/11 style investigation into the capital riots but no pressure of anything the sort when you look at the pandemic, lives at cost, the economic devastation far greater, no one would argue far greater significance and yet there is no independent investigation so although you and i completely agree, i agree with everything you said about
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how the lockdown failed and were counterproductive and the strategy in states like florida and texas clearly worked but there is no agreement around that. what you had on cnn and msnbc in the new york times and the rest of the establishment media is nonstop pro lockdown propaganda and misinformation. half the country does believe that strategy was the only one available and unless we have an independent investigation looking at the facts, looking at the consequences we are not going to learn the lessons and we will go into the next situation like this should it occur with half the country thinking lockdowns are the answer when we clearly can see they are not. stuart: got it, very good point. i want you to respond to the news of the day which is exceptionally disappointing employment report, earlier this morning i asked the labor secretary why we are paying
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people extra benefits to stay home if we want to get them back to work. here's his response, role tape. >> people aren't coming back to work because their job isn't there, has nothing to do with my opinion a little to do with unemployment insurance, most people want to be -- unemployment is a temporary effect. stuart: okay. what is your response? >> i could go further than you. that is a flat out lie, it is not true that the jobs aren't there. the jobs are there, there are millions of vacancies. the last number i saw was millions of vacancies, the jobs are there but people are incentivized to stay home, in some states this is why montana recently rejected the extra unemployment insurance, under the biden plan, continuing the top up unemployment insurance, half the people would do better not working than working, what he said is not true.
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the question, there are facts, millions of billions of vacancies, people aren't incentivized to make more money staying at home. stuart: it has been a long time since i have been in california. if i walk down the street to la, san francisco or wherever are there help wanted signs all over the place? >> restaurants are reopening, the bars are getting open. they can't find the work because not surprisingly given the intensity and length of the lockdowns and that sector being completely crushed people who work in those industries basically exited the industry, they found other more rewarding work in other sectors, that huge hospitality sector you talked about earlier is struggling to find people, such a disaster. for the labor secretary to pretend it has nothing to do with their policies is so destructive, the prospect of getting people back to work. stuart: how did it come to
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this? steve hilton, we will be watching you. on the next revolution sunday night, 9:00 pm eastern only on fox. always a pleasure, thanks for being with us today. got to check those markets, you like what you see. the dow is up 130 and the nasdaq up 178 points. i call that a rally. david, i was stumbling over my names today, david barnes is the man on the right-hand side and he's with us right now. you are not worried about inflation. i am a. make your case. >> not worried about it but different from saying i don't think there will be cyclical or inflationary pressures along the way. most of what people call inflation now is simple reflation of coming out of the very low pricing levels we saw at the bottom of the pandemic. some prices much higher in those input prices represent a
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threat to profit margins, it is very transitory, a lot of commodity prices we are talking about and other things, 2014 levels. you simply can't call something inflation if over five years has a negative price movement. i'm concerned about deflation because longer-term we've done so much debt accumulation in the government that reminds me of japan. we spent a lot of future growth in the present and history is clear that puts downward pressure on growth and productivity and becomes a deflationary problem. that's my bigger concern long-term. stuart: something else i picked up from your writing. you say the return to the
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office will outperform expectations. make your case please. >> you picked it up from my writing and my arguing with you about it on the air. i am here in midtown. nothing i like more than sitting across from you, we are a few avenues away and i can't wait to come back on set and all the officers on sixth avenue to be back to normal. it is a voluntary decision of the senior executives at some of these companies that have been sitting around enjoying their staycation, it is completely healthy and feasible for all these companies to be reopening. now you see the leadership coming back, jamie dimon and jpmorgan, david solomon at goldman sachs and they are not just saying things the right way although they are doing that too they are doing it, setting the policies to get the people back and the law firms and other smaller financial companies follow suit. this city is so wonderful, when
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the restaurants are open engines are open and people going to work at the ecosystem that makes new york energy what it is is allowed to play out. i'm sorry they got away with punting this to the summer and then punt it into labor day, this idea that permanently people will work at home in their sweatpants is ridiculous. it destroys brand, destroys collaboration, it is not the ideal optimal environment for most companies, that is my case. stuart: i will put my suit and tie on and buy your lunch when midtown manhattan opens up. we will see you soon, thank you. take another look at the markets. susan has picked out some nice big-time winners for us. square on the upside? >> crypto is a boom project or cfo the company making twice as much money as wall street forecast but $20 million on bitcoin holdings in the quarter, overall, $70 million
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bitcoin stash worth two times that so that is the appreciation you are looking for, roku dominant with 40% market share, 53 million active accounts dreaming 18 billion hours plus during the quarter. that is amazing, roku is predicting another profit, told regulators they will not have self driving available this year, focusing on the snl performance. signing autographs, and dogecoin, if you listen to this, where do you think dogecoin on saturday night live, the he's like tony stark, the real live tony stark, the
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fanfare for a ceo. stuart: it is well pointed out. debris from a chinese rocket hurtling towards us. it is expected to crash tomorrow. we have the latest predictions for you. drug smugglers causing major problems on the southern border. watch this. >> we are seeing staggering numbers across the borders. stuart: that was congresswoman lisa maclean at the border and she's going to join me after this. ♪♪ enough is enough is enough ♪♪ i want enough ♪♪ i invested in invesco qqq
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>> 22,000 migrant children are currently in health and human services custody. thousands of migrant kids were relocated. tell us where they want. >> we have 5 others beyond me. many of those immigrants are transferred to this tent or that tend but the majority. the problem with a challenge, this is a shining example of
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success, dramatically leaving a turnaround, apprehensions continue. the president's kind and gentle approach is incentivizing more. they have 4000 migrants, the majority unaccompanied minors. it is down to 800. it is 80% reduction. i had a tour yesterday and it is like a giant emergency room, you have migrants around the perimeter, and in the middle you have these agents doing medical and biometric screening, busy but not overcrowded. today in south texas it is
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crawling with police, state and local police, national guard, border patrol and too many looks like a war zone but the locals say it is not. >> we are not stuck at home with our doors close to wanting to go outside, nothing like that. tonight people on the national level, we love our community, we love rio grande city. >> today, secretary alejandro mayorkas will be here and say they are moving forward which is a first step, joined by several congresswoman democrats if you will from dc. stuart: got it, let's move on. the white house is blaming the media for the push to say there is a border crisis. watch this. >> we have seen surges at the border. every time it happens is bad.
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that wasn't really a crisis. it was a huge challenge but a big driver was we understand the nature of some components of social media and media these days and don't want to see a end to that. stuart: it is all our fault. lisa maclean from michigan joins me now at the border. do you describe what you saw as a crisis? >> i would say it is worse than a crisis because it is a crisis on two fronts. and psaki should be ashamed of her so. i would offer to look firsthand, what i see is horrifying. this is in my opinion the worst example of modern-day slavery i have ever seen, you have a twofold problem, the families being trafficked over the
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border, to go over again and to get another family over the border. the other thing no one is talking about is all the border patrol agents are dealing with these illegal migrants coming over, people claiming asylum, that opens the door for drug trafficking, drug trafficking, drug trafficking, opioid addiction, fentanyl is up from 400% to 600% and where is that going? it is going to a town near you. that is happening right now. stuart: we got you on tape on the left-hand side of the screen investigating a van with a compartment and it full of drugs. what were the drugs? fentanyl? that kind of thing? >> it was fentanyl and that was just what they caught and that actually was the vehicle that was coming through legally but because they are dealing with
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this immigration issue that more and more of these vehicles are getting through because there is no way passable we can possibly get -- detect everything that is going through, they don't have the manpower because they are being diverted to processing the illegal immigrants that are coming through at the border. it is fentanyl, there is a rise dramatically in fentanyl, that is what border patrol agents are telling me. >> that is a terrible thing, thank you for your report right there on the border, we do appreciate it, hope we conceal again soon. did you know by any chance of that this is national space day, how appropriate we should be talking -- don't know where that came from. we have been telling you about chinese rocket debris that
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could crash some time tomorrow. it is unclear where it crashes, china things it will land in the water, not cause any harm. the military has no plan to shoot down the debris. can tell you that for sure. the band coldplay picked and out of this world way to release their latest single, ash, come back in again, what did coldplay do? ashley: i look ridiculous in a helmet but let's move on. coldplay debuted the new single higher power, where else? in space. if not, there you go. we are not hearing it. i'm not hearing it. that is precool looking. a french astronaut who is on the international space station played a specially made performance of the song featuring dancing alien holograms as you saw. at least i hope they were holograms. into the conspiracy theory. higher power isn't the first
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song to play in space, that belongs to the holiday classic jingle bells which entertained crewmembers in space all the way back in 1965 and then there was david bowie's space oddity, heartbreak hotel, space has a long history of famous tunes but there you go, coldplay the latest to get in on the act. stuart: got it, thanks very much. a major cruise line could pull all their ships out of florida over the state's new vaccine rules. i want to know more about that. seems like president biden always dodging the press, watch this. >> we are going to move out, let's go. >> thank you very much, time for the press, the president has to leave. >> last question i will take or i'm really going to be in trouble.
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stuart: he would be, turns out the president's team doesn't want him to take those questions. press secretary kayleigh mcenany will tell us all about that. ♪ ♪i've got the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. saving is easy when you're in good hands. allstate click or call to switch today. living with metastatic breast cancer means being relentless.
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♪♪ stuart: that is a great tom petty song. waiting is the hardest part. the late great tom petty. looking at the white house. momentarily president biden will deliver remarks on the economy. he will be a little late. if he takes any questions we will bring the questions and answers to you as promised. white house press secretary jen psaki admits president biden is advised not to take impromptu reporter questions. watch this. >> that is not something we recommend. a lot of times -- he will do what he wants to do because he is the president of the united states. stuart: let's bring in kayleigh
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mcenany, good friend of this program, great to see you again. if he is not taking question seems like he is being protected. my question is who is really running the show at the white house? >> there was an article about this week the talked about an unknown name for viewers referring to ron clean, the chief of staff, they said he is in charge of constructing this fdr lbj like type spending, tremendous transformation of american society but it certainly seems the press secretary may be calling the shots, we encourage you not to take questions and biden repeatedly will say got to be last question, i'm going to get in trouble, who is he going to get in trouble with? seems like the white house press shop. stuart: don't let him out there for very long, they don't let him answer questions freely from the press. what are they covering up? there is a suspicion that he is tired, that he fumbles, that he
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is unfocused. is that why they are protecting him? >> no doubt about it. anyone who watches him sees that, he has trouble in the freewheeling back and forth of the white house press briefing so they are absolutely trying to control the style that does not work for him and that is why this article i referenced from the times said they are pacing biden. he ends today by 5:00 or 6:00 pm. they are pacing him to be in it for the long run whether that is the next three years or next we 7 years if you wants a second term. stuart: why don't they bring on vice president harris? she presumably could answer questions, could be vigorous or dynamic, wanted to bring her in. stuart: >> doesn't want to be asked about the border plain and simple. she wanted to hedge her bets to be the next president of the united states following biden, to run for another term and trying to carefully manufacture her appearance which is why
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she's in charge of this nebulous central american country origin problem but not the border crisis. there is not a lot of good answers, this jobs report, immigration and other areas with perilous terrain to take questions. they are manufacturing her appearance to prep her to be the next commander-in-chief and that means staying away from the press conferences. stuart: twitter suspended donald trump's new account from the desk of donald j trump. i see this as a flat out attack on free speech and a flat out attack on the former president. when is it going to end? that is my question. >> it's not going to end. this is a troubling development. their logic, he can't be trusted with a twitter account, twitter's logic in the wake of january 6th. now we know this isn't about stopping one individual, a leader of the free world that stamping out his entire movement.
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you are unaffiliated with trump and opposing his statements are not allowed to post his statement as a third-party this is next level and instead of trying to stamp out a president they are trying to stamp out a movement. that has always been there design. stuart: kayleigh mcenany, thank you for taking time out on a busy day, appreciate you being here, don't be a stranger, come back soon. i will take you up on that. look at this. lawmakers are looking to spend up to $6 billion on their so-called community project funding requests. hillary vaughan has been following the story a long time, 48 hours. are the lawmakers for these earmarks of these projects facing any backlash? >> reporter: they are because the public is getting a peek at what these projects are and how much money is being requested, lawmakers are hoping to go on the record and defend this
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spending. we got a comment from congressman gonzalez, he was the guy requesting 400,$000 for toilets to go along a hiking and biking trail. his office tells us of his about the request. congressman gonzalez works every day to the deliver for his constituents and improve the quality-of-life for south texans. he requested funding for projects that will create jobs and invest in our outdoor spaces and trails but lawmakers still have to persuade the committee to greenlight these project in the first place and also convinced taxpayers it is a good use of taxpayer cash to spend money on projects most taxpayers never get to benefit from. one key aspect of this is lawmakers themselves cannot benefit financially. there are criticisms swirling around some of the requests, one is a request from congressman garrett graves who
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is asking $1 million or $35 million for sugarcane research unit and that is coming into focus because he received 100,$000 in campaign cash from the sugar industry. this criticism coming from the american accountability project that tweeted about this saying a coincidence big sugar gave congressman 100,$000 in campaign cash and he asked for a 35 million earmark for their research facility. we reached out to the office for comment and they get it. this is a facility they asked for themselves and a big economic driver in the region. i want to deck out the statement sugarcane is the biggest crop in our district by far representing one of the biggest sectors of louisiana's economy. stuart: we have seen earmarks before. now the scale has vastly expanded. we are talking billions. thanks for joining us,
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appreciate it always. look at this. i will show you what i call the lucky lobster. just saved from being eaten. we will tell you how it escaped death coming up. alaska, a land specifically designated for mining but washington won't give them the permits to mind. governor mike delaney is with us and says the president is trying to cancel alaska. he joins us next.
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welcome appearance back with us. what is it you want to mine that they won't let you mind? what do you want to take out of the ground and because we can't get it from alaska where are we getting it from. >> we have tremendous minerals in alaska that underwrite where this administrative wants to go, and batteries etc.. we have tons of copper and unlimited minerals, back in march there was a report in reuters the biden administration was having quite discussions with canadian mining firms. we are going to push it
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overseas where we have to depend on folks from foreign countries to provide these necessary minerals. alaska has lots of copper, lots of rare earth's that can underwrite where we are going but have to be given a chance to use it. >> >> it is a big business in alaska. when the judgment might come down. >> it is a little slow, the next few days. we have a seasonal cruise ship season in alaska. it is not going to work out for us. it is looking better today, we will know in a couple days
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where it is going but we are prepared to file the lawsuit or keep with the lawsuit and make sure we can protect alaska. it is a $3 billion business to alaska. we don't want to resource small businesses. stuart: you have been clobbered, lost the cruise industry, $3 billion, natural resources cannot be mind and the price of oil went way down. >> we are recovering slowly, to be given an opportunity to get back on our feet, let the tourist industry get back to alaska, cruiseship industry come to alaska. and and mining and oil and gas,
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the oil and resource project, we can create jobs, wealth, and looking to washington for a handout. >> doesn't help if you are republican state, thank you for joining us. see us again soon, and norwegian cruise lines could move out of florida. >> florida's new law prohibit businesses from asking whether employees or customers have been vaccinated against covid 19. and government entity to deny services, and here's the problem, norwegian cruise line says we may have to suspend florida departures and move
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somewhere else because the cdc says it will not allow cruise lines, unless 98% of crew members and passengers have been vaccinated. in other words it is a bureaucratic standoff. common sense will hopefully win the day but i am not holding my breath. stuart: florida app republican state like alaska and that is a fact in america today. show me dark restaurants, darden owns the red lobster chain, that is where unlucky lobster was saved from being dinner. its nickname, freckles. this is a very rare one in 30 million calico lobster. freckles, speckles, very rare. people -- spend the rest of its
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life at the virginia living museum. stay right there, friday feedback is next. ♪♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it.
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stuart: jump right in showing you miami beach, friday feedback. susan is on fox news so she cannot be with us. first comes from peggy touchstone. we hear many interesting stories about your family and grandchildren. what about ashley? as part of the dynamic trio, have at it. ashley: when you are on the run from the fbi you've got to be careful. my wife and i have a blended family of 5 children, four from my first marriage, one from her first marriage and two grandchildren. and my wife's son live in australia because that is where she is from originally so we go
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down there when we can but as you know you don't take a quick trip to australia. it is a commitment. a heckuva trek. stuart: it is and i wish i could go more often but i haven't seen my son in australia and new zealand in three years now, terrible thing. where were you 60 years ago when america's first man was launched into space? may 5th, 1961. i was in high school, we heard about sputnik in the late 50s, we were gung ho to see america get up there in space. how about you? ashley: i was 2 and a half months from being born so i don't remember it but i will say on my eighth birthday the astronauts landed on the moon which was great except i was like hello, it is my birthday, forget what is going on on the tv, where are my presents. stuart: in 1969 when we landed
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on the moon, neil armstrong landed on the moon i was in the bazaar in tehran, iran, traveling around the world, low-budget travel and there i was in the bazaar into ron and they were shouting at me apollo, apollo, that is what they said. among other things. kathy gates writes this. what is that very interesting picture shown between segments, the one with the radar, radio antenna, vertical takeoff and landing planes, helicopters on top. that is easy, that is the intrepid. it is more in new york city. we have a nice shot of it which we show you every day. that is the intrepid. then there's this from jim barnett. from larry. how do you feel about the ownership of man you and cancellation of the game, who would have won? this is reference to manchester
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united in liverpool, the game was canceled because the fans invaded the pitch. this is all about the superleague of protests against it. what do you say about this? ashley: protests against the ownership at manchester united, and american family who on the tampa bay bucs, they don't like him in the uk, they don't think the team has any salt. it is purely business to the owners. in some respects is course it is. they want fan power much like germany. the fans can't have big corporations running the show. the fans have some sort of input. stuart: man you shot itself in the foot to put it bluntly. all good stuff. have a great weekend, great weekend, see you later. great weekend to all. friday trivia, here it is. this sunday is mother's day.
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the question is what year did mother's day become a national holiday? i can't guess, no idea, but the answer will be apparent when we come back. t more? so what are you waiting for? world's strongest man martins licis to help you break down boxes? arrrggh! what am i gonna do to you box? let me “break it down” for you... arrgggh! you're going down! down to the recycling center! >>hey, thanks martins! yeah, you're welcome. geico. switch today and see all the ways you could save. incomparable design makes it beautiful. state of the art technology, makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $349 a month for 36 months. experience amazing, at your lexus dealer.
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stuart: what year did mother's day become a national holiday? answer on your screen, 1914. i did not know that. we've got time for one more friday feedback question. greg asks this: stu the, what kind of dog do you have? that's easy. i've got collie dogs, two of them at the moment. those are the only kind of dogs
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i've ever owned. love 'em to death. ashley, you've got two but not collies, i think. ashley: two. cocker spaniels. baxter and gracie, very spoiled and i love them. and there they are. isn't that cute? baxter with his tongue sticking out. [laughter] stuart: he's a good man. i love my dogs, i really do. and our viewers do too. time's up for me, neil, it's yours. neil: hope you guys have a great weekend, my friends. we are waiting for the president of the united states moments away we're going to hear him talk about where things stand right now. no doubt seizing on the jobs data today that shows the continuing trend where more jobs are being picked up, but not nearly what people thought we would see. ahead of the president, i do want to go quickly to blake burman on what the president might say about this report and how it could -- well, let's go to the president -- how this might help him push for still more -- the president of
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