maria: retailers target tjx and lowe's operating quarterly numbers, on the top and bottom line, target is set to open higher, same store sales up 23% compared to a year ago, stocks on the move. my thanks to you. varney and company begins right now. stuart: it is a selloff anyway you slice it, all across the board. all sectors of the stock market and the cryptos are way way down. i will start with the stock market, dow industrials, looking at a 400 point loss, look at the nasdaq, way way down, running up to "the opening bell". it is technology getting the

worst of the selling. stock investors today, the federal reserve, investors very nervous they will hint's tapping the brakes. that would bring wall street's party to a end. that is the stock market. bitcoin calling out a bit. the current quote on bitcoin 33,700. it is always well below 40,000, all the cryptos sharply lower as well. doge at $0.28. china, beijing, cryptos may not be used for payments, some form of regulation won't come here after the pipeline ransom paid in bitcoin.

look at your 401(k) and you have some financial trouble. it is political trouble for the biden administration because the inflation is so troubling to financial markets is the president's wild spending plans. he is pumping trillions into an economy that is already growing fast. history suggests that can only lead to inflation. there is other news, new york reopens today but there are plenty of restrictions in place. there's an anxious mood in the city nothing like florida or texas. don't miss this, dave portnoy, what is he up to? pumping up his own coin as the rest of the cryptos fall out of bed. wednesday, may 19th, 2021, about to begin.

♪♪ ♪♪ stuart: warming down sixth avenue, there is new york city on reopening day, it is the stock market but also for cryptos. look at bitcoin cracking below, tumbling be below 35,$000, 33-6. susan, you've got to come into this and lay out the story. >> bitcoin 33,000, don't think we've seen the levels, at the end of january, early february, 50% a record highs, just last

month, either meets on the largest crypto currency, we are almost going to go sub 2000, 30%, and from 25%, the bottom of the crypto market, china. it can't be used as a form of payment, they sent an official letter to online payment companies, they are banning all use of crypto currency but chinese citizens can't actually hold crypto currency, you can't use it or trade it. musk hadn't started the bitcoin route in may when he said tesla stopped accepting bitcoin as payment and we could be heading toward 30,000 for bitcoin because we are below the 200 a moving average for the first time this year.

stuart: when you are down to 33,$000 for coin, that is at least 40% below where it was four weeks ago. that is a 40% drop in four weeks. that is a selloff. >> it is intertwined in the financial market so a lot of the selloff has to do with the fact the crypto currency's are coming up because you have losses and need to raise money for margins you have to sell something else and that is part of highflying tech stocks. i would be interested in what you say to portnoy later today, has he into the the currency market? timing is a question right now. i was wondering what he thinks. stuart: i will tell you now, what the devil is he up to? if cryptos were a regulated market dave portnoy would not be allowed to do what he is

doing, would not be allowed to pump up like this on suspicion that later on you don't but it is not a regulated market. >> where's the intrinsic value. stuart: i don't want to have that argument with you but it is a gambling chip. not so much bitcoin but dogy, get out of here. shall we now check the stock market? we shall. it is down 360 for the dow industrials and the nasdaq is down 218. look who is here. michael lee himself. this man i labeled a super bowl and he accepts that label. what are you doing now with the stock market way way down? what are you doing? >> way way down is a relative term, we are a stone's throw from all-time highs in the market.

spectacular earnings news, macy's and a few other retailers, solely based on inflation concerns if you look at the latest inflation number and strip out the car component through rental cars and used cars inflation is only a 3% year over year from april of this year to last year. lumber has taken a dive like bitcoin, substantially off of its high. what we are seeing a lot of inflation numbers, a lot of companies and suppliers panicked in the depths of the recession, they cut capacity and offloaded supply, meeting up because the economies come back much quicker than imagined, i believe they are not going to have runaway

inflation, the loan growth does not grow, and it has declined substantially since the start of the recession without higher velocity of money, we are not going to have runaway inflation. if you have high-quality fixed income and buying stocks today. >> >> thank you very much, thank you for being here. we have some retailers coming out with their earnings today. they were pretty good. target was pretty good. take me through it. >> sales up from a year ago, that is pretty good. raising forecast for the year, private label have curbside

pickup, and the housing boom, consumers are still investigating, sales are tracking ahead of forecast in 2021, whether the trends can last and the discount retailer t.j. maxx making more money in the year's first quarter no guidance which i thought was surprising, wall street felt the same way. sales up 15% despite closure and the european and canadian side of the quarter. stuart: they are joining the others in this down market, let separate out from cryptos in the market, an executive order banning schools for mandating masks, the people not the government should decide the

best practices. for our viewers who are in all 50 states, what is your mask recommendation. >> keep your mask on indoors. glad you brought this up. texas has a problem, and the numbers are going up in harris county which is nutty because even though it has the youngest population in the country, things don't look good especially when you consider the variance when you drop the masks and use the honor system for considering people having vaccines. we don't know who is vaccinated or not. >> india has a chronic problem they had a record number of

cases, 4,500 and they are blaming that not only a lack of vaccines but on the variants. could these variants have made it to america, raising the caseload? >> it is possible they are with us but they may be coming. and this is what the variant is more contagious, the disease is more severe so we have genetic analysis going on throughout the country and we hope to get some data on whether that variant which is be 167 is present in the population, it may be and there is trouble for lowering the mask mandate. stuart: thank you very much for joining us, very important item

of information. appreciate you being here. look at futures again because this is a selloff. we are down 230 on the nasdaq. not only our parents fed up with masks at school, 10-year-old in front of the school board, role tape. >> they you let us kids we need to pull hours up, i asked my mom if there's a word for this and she said there is, hypocrisy. stuart: you will hear from more from that youngster just ahead. president biden claims he is fighting for working people. why is he pushing an expensive electric truck. ford has the best-selling truck in america, it starts at

20,$000, it is affordable. the electric truck is around 70,$000. is that a car the working class can afford? ♪♪ i got my mind set on you ♪♪ i got my mind set on you ♪♪ i got my mind set on you ♪♪ i got my mind set on you ♪♪

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stuart: it is a selloff down 350 on the dow, 250 on the nasdaq. let's go to the price of gold? bitcoin 32,$000 as we speak, down 24%. that is a selloff. listen to this.

>> mister president. >> quick. >> electric has fast acceleration. they do have fast acceleration. there was president biden, in an electric ford 150. the f-series, best-selling car in america, affordable, the electric series at 150, it is not affordable. >> the f 150. the 70 grand for the new f 150 lightning, you load up on other features, expect six speakers for your all electric f150, the gas powered one starts at 21,$000. this new all electric pickup

was earlier than expected for president biden's visit to the ford michigan plant. electric cars getting an earmark, $174 billion, you could make it affordable for the average folks to buy in. what are you throwing your money in. stuart: one other quick thing, $179 billion on electric vehicles, more than spending on bridges and roads, $179 billion on electric vehicles. it is extraordinary stuff. economist john cam the joins us now. does president biden now have an inflation problem? >> inflation is in everywhere

decline in the union in our case the dollar. gold is at enormous highs, the direction of the currency, as evidenced by gasoline and the dollar is weaker, this speeds well into a selloff in the market, when investors invest with future dollar income streams the dollar is weaker right now. stuart: we do have inflation, 3% year on year, roughly 4% yet the federal reserve turns around this afternoon, the slightest hint they are going to tap the brakes on the party, based on the market? >> there would be a near-term downturn but let's not forget

the fed had been raising rates from 2014 amid a major stock market rally. the fed cut rates to 0 and markets, the fed is over here setting the price of credit, the reality is the feds have fallen, in the real world the price of credit is set around the world by producers creating things, the fed can't change, stocks are down because they don't trust the biden economic plan. stuart: thank you for joining us on an important day. see you soon. next case bill gates, all eyes on him today. he will give his first speech since his report affair with microsoft staff are. where is he speaking and what is he speaking about. >> we will hear from bill gates just before noon at the chamber of commerce event treasury secretary janet yellen was speaking about yesterday and

wonder what the numerous articles on his behavior with appearance of microsoft and at the gates foundation why does he want to do this but bill and melinda are trying to separate their assets. the latest transfer according to the wall street journal is $850 million in deer stock taking a total transfer to melinda from bill at $3 billion. will had transferred coca-cola, canadian railroad and auto nation, to separate two individuals. stuart: separating out $130 billion. microsoft down 239 as we speak, futures pointing sharply lower all across the board, it is a selloff down 300 for the dow, 230 for the nasdaq.

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stuart: one of the features of the selloff in progress this morning is this 11 big tech, microsoft and apple's of the world, they were way way down. it was an appropriate moment to bring on shaw gilani. wise big tech down so sharply? anything to do with the inflation scare? >> it has something to do with the inflation scare but is a false narrative, market his new highs and that is an appropriate time to take profits off the table. based on how they value stocks traditionally, bring down if interest rates rise. the big tech stocks are not part of that paradigm.

big tech companies make money, have cash, big cash flow, debt as much as they have at very low rates. they are not the ones you worry about. the tech sector are the ones that should be getting hit but all getting hit are the tech companies that don't make profits and have to rollover their debt and before they can turn a profit those companies are getting hit and the whole sector is getting hit. it is a buying opportunity -- they already come down 7%, starting to look good already as they come down, i think investors, smart investors will jump back in and those who have been on the sidelines should jump in. stuart: the obvious question people come to me all the time, why not sell? especially older people with the risk, a fabulous run for 10 straight years, why not sell just get out of it and rest

easy? why not? >> however long ago you bought you had such a run, made a lot of money and might have missed the next leg and the next leg. we are not close to this market ending, this bull market will continue and investors will leave a lot on the money. back to 2009, 10% and 20%, this will remain the same if we get anywhere close to 10%. >> if we had followed your advice for 10 years, we would be in big tech and that is if we follow your advice. let's see in 10 years, and that is a fact, we like you and see you soon.

there are two big stories in finance. stocks down at "the opening bell," at "the opening bell" we will be sharply lower. and cryptos are falling, crypto is down, bitcoin and 32-8, that is the bitcoin quote. and on the dow, and salesforce.com, the other 28 are down, the dow is off one%. a big loss.

the nasdaq composite, dow was off one%, s&p one and one quarter%, nasdaq composite better than one.5% decline. barely 13,000, wasn't that long ago at 14,000. the retailers that reported this morning, lowe's, target, t.j. maxx all of them strong but one of them is up and their results were spectacular 2%. big tech is open, selling up again. >> looks like two of the largest exchanges in the world, which americans can't trade on but they are experiencing, issues and slowness, so many people that are going to be on these platforms, numerous

people come up to me to ask if this is a buying opportunity for bitcoin, poised to break through 30,000, we are at 33,000, the lowest we've seen, down 50% from record highs, not just bitcoin but the entire crypto space, the second largest on the planet and dogeasy the coin below $0.40, if you look at the average investor plays bitcoin, grayscale, it is at the record discount to their actual bitcoin holdings and some say it is a buying opportunity but jpmorgan came out with a note that people are transitioning and moving their money away from crypto currency into gold once again which is why gold prices have gone up and prices have gone down. >> into cryptos out of big tech, where is it going? i don't know.

and big losses coming in. >> the $10 trillion stock market after $2 trillion crypto market, when you've lost this in one particular market, margin calls, that is what is happening. in big tech as well. it is around $40 trillion. much higher than the cryptos. microsoft, apple, alphabet, all of them down by percentage points. that has got to be because of bitcoin. >> you wonder what elon musk is thinking, accepting bitcoin for that and tesla.

$1.5 billion, when that goes down, dragging tesla stock, with the cost to source tesla stock this morning. >> 553, that is another stock, because of its bitcoin provision but micro strategy. is that pooling them down? >> they are definitely a bitcoin bull, in the past week. micro strategy is lower and jack dorsey's other company down because of bitcoin holding as well. $170 million worth, is a drag on the stock price.

the inflection point, bit coin prices take off in the fall of next year. stuart: did you say moments ago the coin base was having trouble filling orders for the volume of trades? is that standing? >> withdrawals i disabled on finance where either and coin base, according to down detection, a high volume of trades to sell or buy, the price action, the prices are coming down fast. they get on quickly. stuart: hard to get a firm quote, you don't know what price you are talking about. astrazeneca, their company vaccine is effective as a third

booster shot is a down market. and and two interactive, a gaming company, the gaming company was up 3%, >> sales profit is higher and it continues. the sales forecast expected for the rest of this year, the people will actually leave their homes as states reopen, sell or numbers from take 2 and the trends from covid, the lockdowns will remain including in gaming. stuart: here is another one. carmax, used car prices are skyrocketing and there's a shortage of new cars on the

market, carmax got a downgrade. why the downgrade? stock is down 4%. >> used car prices, the increase in april since 1953, 70 years, from ever those days and to neutral, the current valuation is expensive and reflects the bullishness out there and there will be a deceleration in these trends. >> coronation, 1953. i was alive and we had a television set specially for the coronation, 5 years old. thank you very much. there is a new campaign targeting woke corporations. corporations like nike. watch this. >> who is trying to ban nike's labor practices? nike 5 back of highly paid lobbyists. nike, stop exploiting foreign

labor, not woke politicians. stuart: that is push back against the woke mob. will it work? i will ask martha maccallum that question. she's on the show in the 11:00 hour. apple claims they are committed to privacy and free-speech but the new york times investigation exposes the complete opposite. we will explain why they are being accused of caving to communist china. ♪♪ ♪♪

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stuart: 12 minutes into the trading session and we are downpour 420 points for the dow, 216 for the nasdaq, some off across the board.

bitcoin got a new quote in. that is wrong. get off the screen. the latest quote is 31,$000 on bitcoin. bit one at 31,$000. if serial is down. i will say the cryptos are unraveling as we speak. the airlines are down across the board even though the europeans have okayed vaccinated americans to go there without getting into quarantine, without being tested. jetblue has a service to london in august, $600 round-trip, jfk london but all the airlines are down. we are learning about robin hood. could file for their ipo. when will they go public? >> looking at june according to bloomberg reporting, the latest rounds, robin hood was valued at $40 billion according to some reports, that is higher than a raised cash just at the end of last year, 11-$13 billion but in this hot

ipo market, you have a quintuple things sometimes, they had to raise $3 billion in emergency cash at the height of the saga, that was to the $13 billion so in a matter of months, the trading volume in crypto trading, robin hood going out at a more expensive level than some anticipated. it is funny to look under the hood, what are the business models for order flow over to citadel and the like. that is interesting for investors to look through. stuart: we will look through it. back to bitcoin. hard to get a firm quote, when they have trouble filling orders. we understand that bitcoin has bounced up, quoted at 36,600.

that is a valid quote, we have different quotes from all over the place, 36-7 is what we have now. steve irwin joins us, the cofounder of voyager, e*trade for cryptos. you have 600,000 traders on your platform. report for us what they are doing as cryptos unravel. >> appreciate you taking time and having voyager on the show. we are seeing a lot of additional money coming into the platform and buying not just bitcoin but a bunch of other coins. almost looks like bitcoin is a distraction to everything else happening, a lot of buying, a

lot of voyager and people buying a lot more on this major dip we have seen today. stuart: is that right now, i want to press the point, you are seeing buyers coming in to buy the dip as of right now. we have bitcoin back at 37,$000 having touched 31 earlier. the buyers are buying this dip as we speak, correct? >> yes they are. we've seen more money come into the platform over the last 12 hours, coming into our platform for people to buy the dip. crypto is not going anywhere. we are seeing a correction. we've seen things in the news. a lot of tweets from influential people for retail participants to get reestablished and increase their positions in the market. stuart: affair point. you are reporting on what it is, appreciate that, can't ignore the possibility of future regulation.

sinuses you can't use them for it the medium of exchange or a currency and chinese financial firms cannot offer crypto services. that is regulation bearing in mind that bitcoin was used to pay for this ransom of the pipeline, surely you are looking at the possibility of regulation coming at you and that is a huge negative. >> let's unpack that. first is china. we've seen china play this before where they banned crypto and it comes back and goes. you can't take everything on its face when it comes from china as to what the motives are or what they want to do and that is one piece of it and the regulation but we've seen that before where they banned crypto and they come back with it. i am also reading reports they are focused on their own digital currency within the government so maybe they are banning bitcoin and other currencies has something to do with that.

the regulation in the us and where it goes, we will have thought for regulation. there are a lot of places in places like voyager where we take careful know your customer, good for regulation and more thoughtful regulation. >> thank you very much for being on the show, very important for the cryptos. we appreciate it. sure thing, the new york times reports apple is censoring apps in china and giving the chinese government access to users data. tell me what is going on. >> this goes back to a change in chinese law from 2017 and in response apple agreed to move chinese customer data to china on a specific server that is kept in the country and the key

to the data, apple said they are using technology to encrypt the status it doesn't use anywhere else in the world because china wouldn't approve other types of technology but these are the rules to operate in the country. we know apple has also according to this report by the new york times been taking the initiative and getting some apps off of it's apps store they think violates chinese law. if you saw that during the hong kong protest this apps that could track the whereabouts of the hong kong police that was removed off the apps store and apple says they were complying in china. stuart: not much response to the stock price in that report, holding one dollar lower, that is all that is, 7%, 8% down. new york claims it is reopened but don't get ahead of yourself. it is not open like florida or texas because democrats want to keep you under control. that is my opinion it more of that later. we are seeing shortages every

over the place whether it is lumber, metal, coffee, the list is long and this is not good news for your wallet.

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stuart: just joining us? you are seeing red. the market is slipping further south. the dow is down for the nasdaq is only down 166. big action in the cryptos especially bitcoin. 36,$000 a coin, very difficult to get a real firm quote at any one time. they are having trouble fulfilling orders. look at the syrian way down, it is down 25% at the moment, $2,500 a coin and doge hard to get a quote but we understand it is at $0.35 per coin. next case, there are shortages everywhere including at the grocery store. edward lawrence in rockville, maryland. what is happening to prices at the store you are at?

>> the prices are going up to illustrate this. mom's organic market in maryland in a number of different states but the cost of pet food is going up because the company that makes the pet food couldn't find cans and limiting supply. the spice company that makes the choices don't find glass bottles these spices going, the company scrambled coming from asia and a bottleneck on the west coast, by the european supplier and eventually get this in but in the meantime the price of everything going up and so far they have been absorbing that here. >> we are starting to see price increases comes through. it is difficult time and we've got the guarantee that we are cheaper than the competition. we have been absorbing some of that. >> inflation is here, demanding

for product is up, supply limited so prices are going up. we know about supply chain issues with the semi conductor limiting the amount of cars that can be built. also in lumber, home depot on an earnings call said they are charging four times as much for some lumber products because the cost they are getting is increasing so the bottom line is as you know from market 101 the increased demand, lack of supply, prices go up. stuart: that is called inflation. thanks very much indeed. still ahead on this program bob doll, martha maccallum, doctor ben carson joins us and so too does dave portnoy. bitcoin, china regulates and maybe we will too. that is a problem. this crypto craze could end in tears. ♪♪ er money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on

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♪. stuart: that is the reopened new york and new york city. not quite as open as we would like but there you go. good morning, everyone, 10:00 eastern, straight to your money. tough watch this, we have a big selloff going on here. mostly down. big tech taking a beating this morning, all of the big names sharply lower although they have come back a little bit.

earlier they were down more than 1%. now only, what is it facebook and apple are down 1%. the rest although still on the downside. the other big story is bitcoin and the cryptos. bitcoin right now is hard to get a firm price but we've got 35,600. that is about 20% lower just in the last 24 hours. as for ethereum that had been doing extremely well recently, big rally, going the other way now, off 27% at latest count, 2400. that is the price of an ethereum coin if i can put it like that. it's a selloff, folks. now this. a wealth management firm did the following calculation, if a person had put three stimulus checks, april of last year, december, march of this year into dogecoin that person would now be sitting on $500,000.

no wonder there is so much fomo, fear of missing out. no wonder so many people are investing in cryptos. after all, young, tech-savvy people have been couped up, plugged into social networks for a very long time and the government has given them a lot of surplus cash. no wonder there are now about 10,000 crypto coins with a value of two trillion dollars. all right? here come the problems. do china says cryptos cannot be use as payment and financial companies cannot offer crypto services. that is a crackdown 1/2, it pushed bitcoin below $31,000 at one stage. now it is 35, okay. watch out, some form of regulation could be coming here too the cryptos have not been helped by the antics of elon musk. he supports bitcoin, he really doesn't. who knows where he stands on dogecoin. this is classic manipulation.

musk can get away with it because the crypto market unlike stocks is not regulated. there is the outrageous bitcoin ransom to reopen the colonial pipeline. are we allowing our country to be held to ransom about this and do nothing about the bitcoin perpetrators? get out of here. the crypto traders we put on the program don't really care about regulation or ransom payments. they freely admit they are gambling. maybe it's a generational thing. older investors look for underlying profit and value, the cryptos look for the next celebrity headline. we may bring you that headline. in the next hour dave portnoy joins us he made a big splash with the safe moon coin. it is theatric, it is gambling. i think it may end in tears. the second hour of "varney & company" starts now.

♪. stuart: let's bring a man who knows all about money that would bob doll on the right-hand side of the screen. will the crypto thing end in tears, bob? >> it is as you speak. doesn't mean we won't go back up at some point in time. stuart in the interest of full dis"closure," i missed it on the way up and missed it on the way down. my thinking is you buy this it goes higher because someone will take it off your hands at a higher price. it is speculation that cryptocurrencies have something to offer to society i think is a yes answer. it is way too soon. not enough history. regulation is not there. this market has to mature before it becomes a real investment and not a speculation. stuart: all right. let's turn to stocks. the big problem for the market today appears to be inflation and what the fed is going to say

this afternoon. what happens if the fed just hints or the tea leaf readers just hint, maybe the fed will tap on the brakes? you're laughing, but will that produce a bear market? >> that would not be a pretty scene, no question about it. the fed said don't worry about inflation, it is transitory, quote, unquote. part of it is definitely transitory but not the whole thing. we had the biggest increase in inflation in 30 years in the last consumer price index and the highest reading in 15 years. look inflation is too. money chasing too few goods and with all of the stimulus we've had, stuart, it is in some sense a surprise this hasn't happened sooner. i think the markets will eventually the force the fed into a corner and they will have to talk about raising rates sooner than kind of never, i'm exaggerating a little bit as their thinking has been.

stuart: bob, you know, i'm in my 70s. i have got an investment in microsoft. should i sell? why should i not sell now? i've had a fabulous run why not sell it, walk away, take my profit, be happy. why not? >> the beauty in this business it is not black and white. take a little off the table not the whole thing. the economy is still fine. earn, are still fans fantastic. the market will probably not have a huge selloff. could we get a huge correction? of course that could happen at any point in time. if you made a little money, nervous, overweight microsoft, overweight technology, take a little money off the table but don't clear out your position. coming back in is always harder. stuart: the voice of reason from bob doll, good stuff, bob, thanks very much for joining us. see you real soon. >> bye. stuart: i will transfer our interest away from bitcoin and

the market and go towards president biden. he joked about running over a reporter with a truck when he was asked about the israel-gaza violence. watch this. >> mr. president, can you ask you a question. >> no you can't. unless you get in front of a car as i step on it. i'm only teasing. stuart: okay. liz peek with us right now. reporters laughed it off fair enough f that was former president trump how do you think the media would react to that? >> probably more critically, stuart, is that a good guess? this is why president biden is not allowed to go out and parry questions from reporters. half the time he gets himself in trouble. it is not a pretty sight. it causes people to question whether he can handle the one-on-one, for example, with vladmir putin coming up. that makes me terrified.

i'm afraid he will give away alaska by mistake. i think we're holding this president to a very different standard. the bar has been set very low and i think we all should be kind of concerned about that. stuart: i think the president has an inflation problem. we're not going to be allowed to ask him about it. but in his wild spending plans, which are in part responsible for the runup in prices that we're seeing across the board? you agree with me own this one? i think he has got, this wall street problem is getting worse. the dow is down 500. that wall street problem is also his inflation problem, isn't it? >> without a doubt. because i think a great many of us were writing months ago that the $1.9 trillion american rescue plan was unnecessary, was too big, was basically going to be doing exactly what we're seeing, pushing too much money into the system. you add that to this incredible loose monetary policy from the

federal reserve, you have a recipe for inflation. stuart, the democrats were hopeful that as the 2022 elections rolled around americans, at those famous kitchen tables would talk about the 1400-dollar stimulus check they got. instead they're talking about the price of chicken, the price of milk, the price of diapers. this is a real kitchen table issue. this is fairly, honestly can be traced back to too much money being put out there by the federal government. last year's stimulus was called for. the economy was a wreck. now we do not need anymore. heaven knows we don't need 4 trillion more that biden wants to promote. i think those programs are dead in the water and rightly so. stuart: liz peek, good stuff, thanks very much, liz. see you real soon. momentarily looking at market there because we have the low of the day, the dow industrials down 500 points.

that is 503 points. 33,500 is your level. the nasdaq is on the way down again off nearly 200 points. clearly a down market. susan has the list of the big movers. grayscale, i bet that is down? susan: down a lot. 15% so far. record discount for the grayscale bitcoin trust and 600,000 bitcoins that it holds. that means the value of the bitcoins in that trust and the price for the stock is at the widest gap ever. mean time check out coinbase. coinbase barely above $200. after a direct debut a few months ago. down detective says there are problems with coinbase in this crypto frenzy. southwest airlines. show you what is happening with southwest, they also came out with earnings. they said april revenue will increase from march which is encouraging and leisure fare levels close to 2019 prices. people are traveling once again. wells fargo downgraded this

morning at ubs to neutral. the stock has run up too much. did you see "the wall street journal" this morning, stu, more than $32 billion flowed into u.s. bank stocks this year in just the first five months of 2021. that is record amount for any year of 12 months. people are chasing financials. we're seeing some of the money coming out today. stuart: was that because the yield on the 10-year treasury went above 1.60? susan: yeah. stuart: put money into banks as the rates rise? is that the reason. susan: banks are reopening proxies to economic growth. so when the economy reopens and hopefully recovers you have these financials doing better, doling out more loans, people want to buy things again. stuart: you got it. get back to cryptos shall we, susan. bitcoin all over the place. susan: yes. stuart: plunging roughly, 20% in the last 24 hours. give me the latest on the cryptos, susan. susan: i'm telling you these prices are pretty accurate. i think it is also very

encouraging, stu, just about an hour ago we were poised to go sub30,000 for bitcoin prices something we haven't seen since the start of this year in january, you're back up $5000 in 60 minutes, that shows there is dip buying taking place. if we change to check in ether, this was slightly above the 2,000-dollar levels. that is 50% from record highs which was roughly around 4200. 50% down for bitcoin prices. that is how we started this morning at least on the program. the problem is, i don't think it is new. i think it is shakeout happening in the crypto market. this is not a crash. if you want to see a crash people wouldn't rotate back in to pick up on the cheap, right? stuart: sure. susan: the china news is something we already heard before. this is not news the fact they sent a letter to reaffirm it maybe that was a bit after wakeup call. i don't think anything new in the market traders are reacting

that heavily off of. stuart: we have a sharp selloff. then we got dip buying. now we got a sleep uptick in crypto prices. think that is the state of market 12 minutes past 10:00 eastern time on wednesday morning. western morning, that's right it is. let's move on. i will show you that youngster again a fourth-grader going viral taking a stance against wearing a mask in class. roll it. >> it seems unfair teachers take their masks off while they're yell, while they yell at us kids and we need to pull ours up. i asked my mom if there is a word for this. she said there is. hypocrisy. stuart: okay. we'll hear more from that youngster just ahead. plus, dave portnoy getting into crypto. roll tape. ♪. >> the answer is safe moon.

safe moon is now in the dave portnoy business and vice versa. why? i don't know [bleep] why. stuart: theatrics, pure theatrics. nicely produced for tv, but theatrics nonetheless. what is he up to? i will ask him directly. he is on the show next hour. first though speaker pelosi doesn't care if the cdc lifted the indoor mask mandate. she says mask up or be fined. some lawmakers fed up with that in revolt. congressman greg stuebe part of that revolt. i will ask him. he is next. ♪. ♪ ♪ (upbeat music) ♪ ♪

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stuart: i guess the best way to describe it, stokes are tumbling this morning. dow industrials down over 500 points. that is 1 1/2%. nasdaq down 170. that is one and 1/3 percent. nasdaq, look at the big losers. tesla, the biggest percentage loser of all the nasdaq stocks. it is down 20 bucks. that is 3 1/2%, back to 556. why is it down? because tesla owns a chunk of bitcoin and bitcoin is falling out of bed. so is tesla's stock. do you remember this, president biden's energy secretary insisting that pipelines are the best way to transport oil and gas. watch it again. >> we have doubled down on insuring that there is an ability to truck oil in, gas in it's, the pipe is the best way

to go. stuart: yeah the pipe is the best way to go. look, lawmakers momentarily will be asking jennifer granholm why the president canceled the keystone pipeline on day one, why do it if pipelines are the best way to move oil and gas? hillary vaughn is on capitol hill. you have jennifer granholm's testimony, what can we expect, hillary? reporter: stuart, she is going to tell the committee she is proud of what the department of energy has been able to accomplish under her leadership in just the first few months that she has been here but as she is coming to capitol hill there are 19 states attorneys general wrote a searing letter to both the president and his cabinet talking about the colonial pipeline hack and calling for them to reconsider and recalibrate their energy policy in the wake of this. a portion of that letter reads the following, in the aftermath of the colonial pipeline cyberattack your administration quickly relaxed environmental and safety rules to secure

critical energy supply chains. most americans, particularly those not located along the coast, now wish you had been so diligent and responsive before you determined that keystone xl could be sacrificed on the alter of left-wing virtue signaling. we are speaking, will you listen? i talked to one of those attorneys general, attorney general from west virginia, patrick morrissey just moments ago. i talked about granholm coming here, what she will say. he said for her to say she is proud of what she has accomplished is tone deaf. here is what granholm will say before the committee. not only is she proud, lists her accomplishments saying we have jump-started efforts to create jobs and build the clean energy economy of the future, an economy that works better for american families and an economy that works for all kinds of communities with jobs for all kinds of workers. but, stuart, in these remarks there is no mention of the gas lines still around, up and down

the coast there is no mention of the colonial pipeline hack. there is no mention of keystone xl but that doesn't mean she is not going to be asked about it. stuart. stuart: i hope she is. hillary, thank you very much indeed. talk about the contradiction, president biden waiving sanctions, clearing the way for russian pipeline that will feed gas to europe after blocking the keystone pipeline which feeds oil and gas to americans. blocks that, opens that one up. congressman greg stuebe, republican from florida joins us now. what do you make of this contradiction? what's going on here. >> well, what is interesting we know, the president has said that the russians hacked the colonial pipeline here in the united states. so days later the biden administration then waves sanctions against the russian pipeline. this would only make sense to democrats and the message to americans is, pipelines here in the united states, keystone

pipeline, colonial pipeline, that is bad for americans. we want higher gas prices. russians or others that are our enemies that is perfectly fine to this administration. stuart: the mask wars hit the house. listen to this, speaker pelosi demands masks be worn on the floor of the house. republican brian mass refuses. he gets fined $500. congressman stuebe, will you be part of the revolt as well? >> i asked speaker pelosi to follow the science, speaker pelosi. she talked about following the science, our own attending physician relaxed mask requirements here in the capitol. if you look behind me, walk around the halls today, nobody is wearing a mask. not required to wear a mask, if you want to. but they will allow speaker pelosi so have this fiefdom over the house chamber, require members to wear masks f they don't wear masks they will be fined by speaker pelosi. taken out of their pay. only speaker pelosi would pull this kind of thing and not follow the science from her own

attending physician right here in the capitol. stuart: i don't understand why she is doing that. i don't understand why you don't follow the science on the floor of house of representatives? i'm sorry, greg stuebe, i'm out of time. come on back explain what is going on. >> thanks for having me. stuart: we always like to have you on the show. see you real soon. got to get back to the market because this is a selloff. energy stocks i guess you call them that are way down, tell me more, susan. susan: not just energy, look at sectors falling leading to the heaviest selling so far in the session, energy, materials, financials, industrial sectors as well, fox business brain, charles brady. that is counterintuitive, checked in on the 10-year treasury yield. we went up to 166 this morning from what i saw. usually when the yield goes up that impacts the growth, high-tech names. the fact that you're looking at the reopening, reflationary

cyclical trend also falling. that is broader shake up we're seeing in a selloff as well. stuart: what strikes me we're talking a lot about inflation. susan: yeah. stuart: the 10-year treasury yield which is an inflation indicator is staying in the mid 160s. that does not reflect real inflation story. susan: that is a doubling from what we started at the start of this year. it caught a lot of people off-guard when it doubled in a matter of weeks. that might be because of the federal reserve change where banks, they used to be able to hold collateral in government debt during the covid days, because that rule was changed they sold off a lot of that. we saw the yield spike the way it did with banks getting rid of all the u.s. government bonds as a result of a real change. can i throw in one thing about bitcoin? i have some tidbits for because i feel like a lot of stock selling the crip -- crypto sector because you have to raise

cash to pay off the margin calls. fair value for bitcoin is $35,000. which is where we're at. institutional money first time since april buying, chasing bitcoin. stuart: that's important. 35,000 bucks right on the button right there. susan, thanks very much indeed. next case, a teacher caught per rate offing a vaccinated student for taking off his mask. watch this. >> i don't care if you're vaccinated, you little di in. k. >> okay. >> i don't want to get sick and die. people don't like you. i don't like you. >> you don't like me? stuart: well, well, we'll play you the full clip, just ahead. google showing off all new features at its first developers conference in two years. google vice president is here to run down the changes that are coming. we'll be back.

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bitcoin, way down as well. the latest quote we have puts bitcoin at $35,000. and the latest check we have on ethereum which is also way, way down. we got the price as well as $2477. that is down 27%. the cryptos, big story this morning, unraveling. we received the latest how much oil we have in storage. it is up to the tune of 1.3 million barrels. $62 million per barrel is the price. way, way down. that is a 4% drop. my time is up for the moment. here's susan. susan: talk about the google developers conference underway, stu. changes for the new remote and hybrid work trends we're seeing especially as more states reopen. we're joined by google work space manager, javier voltaro. you took the center stage with the collaborative work space and

khosks, tasks melting together. i assume you're planning for a remote trend with hybrid model so people can work at home at the office. >> that's right. we've been at google monitoring collaboration for quite some time. we've been focused not able to stay productive while working at home, as you mentioned many companies, organizations here in the u.s. and around the world are starting to think about bringing workers back into the office, what kind of working models we have in the future. it is important to give them the right set of tools, no matter where you are, you can be effective and productive. susan: before i bring in stu, i want do ask you about google meets, i asked you on the program, you're going for 100 users on google meets, which is equivalent of zoom. are you still adding two million google meets users every day? >> the number grew from that. susan: wow. >> a pham noll year for us, i think we served three trillion

video minutes in all of 2020, something like that. so the numbers were pretty staggering. the impact that this has had on people's lives, being able to connect with people both at work and at home has been something really, really special. susan: stu what do you think? stuart: i just want to know, i presume, having heard what you're saying javier, you're assuming that work from home is a major part of our economy in the years to come. can you give us any estimate of what proportion of the workforce you think will be working from home from here on out? 10%, 15%? what is it? >> you know, it's a good question. i'm not sure that i could hazard a guess what percentage, varies by industry. there are worker, employees, knowledge workers that have quite a bit more flexibility than front line workers, people that do the kind of work that only can happen in a specific place. i think it is important to note

that the flexibility that people will have in just about every industry, not having every day require an in-person visit to the office, part of what make as new interesting, challenge, how to keep the people connected and affected. susan: curious, javier, as work opens are you seeing less demand for your services than before. >> new models for collaboration with documents, smart canvas and enhancements in google meets are aimed at providing any organization the flexibility to approach their return to office process in a way that suits the culture and nature of their business, right? because some companies again really require people to be connected and working closely with each other, whether they're physically close or just virtually close. it is important to creates a much opportunity for people to participate equitiably regardless where they happen to

be. stuart: javier, i find that fascinating. it's a really big question is, who is going to work from home in the future and how you will help them. that was pretty good. thanks for joining us sir. we always appreciate it. >> thank you both, great to see you. stuart: you got it. thank you very much. all right, susan. a fourth-grader in florida has gotten national attention for slamming his school board over masks. come on in ashley webster. i will say good morning to you. i want you to take us through what happened with that youngster we've got on the screen right now. what happened? >> yes. he said it so well, this 10-year-old boy telling his local school board that wearing a mask made him, well anxious, that led to headaches and claustrophobia. he called the rules unfair and hypocritical. that some teachers did not wear masks. take a listen to this young man's pleas. >> teachers take their masks off while they're yell, while they yell at us kids and we need to

pull ours up. i asked my mom if there is a word for this and she said there is, hypocrisy. i know my teacher has asthma and everything but i understand why it is hard for her to wear a mask. i think she should have the choice but i should too. i value, i feel anxious with my face covered but i'm not to wear a mask like her. seems unfair. ashley: maybe a future politician making his points. florida has lifted mask mandates across the state. but school districts are free to make their own decisions. in the end, despite the pleas of the fourth-grader, the school board voted 4-1 keep the mask mandate in place until june 1st, when the school year ends. stu. stuart: big deal. masks in schools. necessary or not. big debate. okay. thanks, ash. >> right. stuart: radio host joe rogan

warning the dangers of cancel culture. watch this. >> you can never be woke enough. that's the problem. it keeps going. it keeps going further and further down the line. it will eventually get to straight white men are not allowed to talk. stuart: straight white men are not allowed to talk. that is interesting. i wonder what the outspoken founder of barstools sports, mr. portnoy himself what does he think about that? i will ask him. i will ask him about safemoon. we'll be back. ♪

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stuart: the fighting in gaza is intensifying. new footage shows israel striking hamas underground tunnel network.

trey yingst is at the israel-gaza border. trey, are they any closer to a cease-fire? reporter: stuart, good morning, according to israeli prime minister benjamin netanyahu they are not closer to a cease-fire. he says this operation will continue as long as needed. the two sides entered their 10th day of fighting as overnight the israelis struck a number of hamas targets inside of gaza, targeting their underground tunnel infrastructure. since last monday more than 3700 rockets fired toward israel. prime minister netanyahu saying that sees. israel tried twice over the past week to kill mohammad def the chief of hamas military wing but they failed. they told fox news they will go after senior hamas leadership. >> the leaders of this operation that have sent close to 4,000 rockets on the israeli

population, have terrorized an entire section of our country are not safe. they will never be safe. we want them to understand that. reporter: inside gaza rescue teams are still digging through the rubble of collapsed buildings looking for survivors. many civilians moved closer to hospitals and u.n. schools after dozen of men and women were killed last week. the humanitarian situation is quickly unraveling after trucks were targeted with mortars. rockets were fired from northern lebanon. this opens up a new front for israelis by palestinian factions there. stuart. stuart: kt mcfarland has wide experience in the middle east as a diplomat for the united states of america. kt what is the endgame here? more to the point what would you like to see as the endgame? >> well the endgame under these

circumstances israel has to do with as much destruction of those tunnels as possible and take out the senior hamas terrorist leadership as possible. i've been in some of those tunnels. they're not like tunnels of people -- like underground subways. they're reinforced with concrete. the concrete supposed to be building for the civilian population. stuart: well can israel win this confrontation? >> israel will win this confrontation but here is how the palestinians win too. they know they can't defeat israel militarily. what do they do? they attack israel. they know israel has to respond. israel responds. the palestinians throw up their arms, say ah-ha the israelis are bad, they're having civilian casualties. they get world public opinion to help them. that is how the hamas, they know they can't win, yet they are putting their own populations in

such dire shape. the leadership of hamas is old, it is corrupt. what the hope was always in the trump administration, we knew if we cut off funding and support and weapons to the palestinian terrorists, either u.s. funding, iranian funding, arab funding from the gulf arab states, that the palestinian leaders would either be brushed aside or their own people would demand peace. and now what's happened the biden administration come out, done predictable, more u.s. funding to help the terrorists. the iranian help the terrorists weapons and missiles and the hope they think for the bad guys, the hope is that they undo the "abraham accords." this is not going to be a good place t would have been so easy to do. stuart: democrats are split on this. the leadership is split. the left of the democrat party is all for the palestinians. the moderates are not even being heard and president biden is in the middle having it out on the

tarmac with rashida tlaib in detroit. this is a totally split government with no answers for what is going on in the middle east, right? >> yeah. it is radical wing of the democrat party that is actually holding the biden administration and the rest of the countries who damage because biden knows? the senate and in the house, even to win the white house he needs that small percentage of radical leftists, the cancel culture folks, the people who believe that the united states is steeped in evil. the people who have anti-semitic and anti-israel, he needs their vote. what does he have to do? he has to cave to them. that is exactly what is happening now. stuart: a miserable situation. kt, thank you very much for sharing your expertise with us. i didn't know you had been in those tunnels. come back tell us more later. kt mcfarland. knows her stuff. thank you, kt. we have a selloff, turning south more. we're down 518 for the dow, 140

for the nasdaq. susan what do you have on big tech? susan: nasdaq, 1% right now, we finished lower for this week, that is five in a row, that is the longest losing streak for the nasdaq going back to november 2012. nine years, last time we saw five weeks of declines. the nasdaq is doing better than the broader markets today, before the last five minutes, we were below the 1% selloff line. that is despite the fact we hit a one week high for treasury yields. going to 166. also the fear gauge spiked, the vix index, highest, up above four points, highest in a week. that usually means, stu, i think there is counter intuitive trading taking place. that means the nasdaq leads the way down. that is not the case. inflationary cyclical, what we call the dow jones trades, value stocks, banks, energy, materials, industrials, leading way down today. stuart: tons of red ink today. that is a fact.

further down on the dow, down 540 as we speak. all right, susan. dave portnoy hyping the latest crypto investment. see him on the screen. that is hype, folks. is he trying to be like elon musk? what is he up to? i will will i ask him because he is on the show. elon constant host and cold takes crypto cost him the spot as the second richest person in the world. we'll update you on that. ♪. some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) obsession has many names, this is ours.

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stuart: it is still a selloff, but i got to tell you i'm sealing a little bit of dip buying in technology stocks. the nasdaq was down 200 plus. now it is down 115. a little bit of a dip buying there. actually the same is true of bitcoin. earlier this morning it dropped to what, 30, 31,000 bucks per coin. now it is back up to 36. our sources tell us there has been some dip buying for bitcoin. as for ethereum, a very sharp loss there. maybe some dip buying. not seeing that much of it.

susan, you're watching target. that is standout winner, isn't it? susan: i will get to bitcoin the next hour but elon musk weighing in. when weigh in he usually moves cryptocurrency. stuart: what did he say? forget target. what is elon saying now? susan: what is elon saying about bitcoin? okay, i explain this, he basically tweeted out diamond hands, it might be a time to buy bitcoin at these levels. i will show it to you. it is the new people stock world we live in, right, when social media drives everything these days. i show you at the top of left zen. get back to target, get back to retailers? stuart: go ahead. >> i don't have the element to show you on the screen itself but target sales were up seven fold from a greer ago. why it is outperforming. profit up as well. private labels, curbside drawing

sales and profit came out ahead, housing boom helping but there are concerns among the investors how long this trend actually lasts. tjx did better than anticipated. no guidance for the year which was a bit disappointing would i say. same-store sales up 15% dequite closures in europe and canada in the quarter. take-two interactive part of that earnings agreement. grand theft automaker outperformance. the down market the fact you're up 5% is huge. that is because they put in a fantastic first quarter. overall corporate america has put in a fantastic earnings quarter. stuart: yeah. no question about it. i don't know how much they're above expectations but they are certainly coming in with exceptionally strong profits. susan thanks very much indeed. how about gun sales, heading towards another record year? ashley, come on back in again. vista outdoors, they're benefiting from this surge. look at that they were, now --

ashley: they sure are. this is a tough day. vista doesn't make guns. but they make ammunition. the company says ammunition sales are booming. 8 million new customers are taking part in what they call shooting sports and hunting, a deaf move says the company towards safety and self-resiliency, with millenials, younger generations interestingly getting more involved in this sector. meantime to gun sales, they are too booming. the fbi says during the first four months of the year, nearly 16 million background checks were conducted. four firearm purchases that is up a whopping 31% compared to the same period last year. stu. stuart: good lord, in four months they got 16 million applications? ashley: yep. stuart: that is spectacular indeed. ashley, many thanks. we've got a big hour coming up for you. dave portnoy is on the show.

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>> smart investors jump back into them and those on the flat line should jump in. >> it is speculation the crypto currency's have something to offer society as a yes answer but it is too soon. >> >> we are a stones throw, with all-time highs in the market. the market is selling off solely based on inflation concerns of the buyer.

stuart: all right. 11:00 eastern time wednesday may 19th. the stock market is 400 points on the dow, red ink across the board right there. that is the comeback for big tech. bitcoin a little bit of comeback. it dropped to 31,$000, there has been some dip buying, and it is $2,082 per coin. there is some unraveling in cryptos today but susan tells us about tesla which is way down. >> elon musk tweeted we are getting with we ready for you but put a floor into the crypto

market, tesla can hold onto their positions regardless of paper losses and selling that many cars but bitcoin dragging on tesla, $1.5 billion and the value goes down along with bitcoin pricing, the entire crypto space, really tough day today, for grayscale, and tesla has diamond hands, in the meme stock world, that holds the position, and refers to those that have to hold. that is where bit coin prices go and have business to back it up. stuart: it does. stuart: to interpret for us old

folks, holds bitcoin with tesla, that's the implication. >> the cooperation we had. stuart: that was enough to put bitcoin back, the latest quote is 37,$000 because of musk. >> when he says i can take the losses, imagine if he had to liquidate that the type of effect that would have on bitcoin or he could hold with paper losses that is pretty encouraging. the other stocks for the crypto selloff for the world of paypal and micro strategy a tough day today, they run up with bitcoin prices over the past year or so. >> they are bleeding into the

bitcoin stocks. thanks. it is complicated but you explains it well, square down 3% etc. etc.. let's bring in luke lloyd, market watcher of the day. they are buying the dip on bitcoin, are you buying the dip on big tech. >> and there are two main things going on in the stock market, sell in may and go away doesn't mean sell in may and go away. there is some truth that this is weak seasonality, with inflation worries and stock market, which is important to federal reserve, with the economy as they risked cooling of the economy too early. to not hike interest rates too soon which is good for the stock market and big tech.

stuart: that may be what we would hear from the fed this afternoon. a totally different subject. i know you just went on a trip to las vegas. tell us all about it, vegas is wide open, completely reopen, back up again. is it? >> absolutely. the flight was overbooked and i witnessed 10 people get bumped to the next flight and some of thousand dollar credit. when i arrived at the resort it was unavailable. i assume they gave it to somebody that paid a hefty penny for it and didn't have any suites available because they were booked and they paid for my food and beverages throughout my stay but one of the coolest things was witnessing the mask order being lifted it was listed halfway through, truly a beautiful sight to see. that is the first time in 14 months most people were able to go out publicly without a mask. casinos, pools, restaurants were jampacked. my boots on the ground research proves people are traveling in

the pent up demand is unprecedented. this is the great reopening of america. stuart: we hear you and i'm sure you had a very good time in vegas. all good stuff. thanks for joining us on a very important day. now this. today, wednesday may 19th, new york reopens but if you think new york is just like florida or texas think again. democrats want to keep control, republicans want to give us back control. in new york city restaurants can be opened 100% but only if they keep tables six feet apart. that means they will not return to real full capacity. but if they put up those plexiglas screens between tables, they don't need to cave social distance, do you want to eat screened in? you can sit at the bar but

cannot stand and drink at the bar. you can go to the gym but social justice rules still apply. get your hair done but social distance rules apply. you can go maskless on the street but not on a bus or the subway. places of ownership can open 100%, but only if they maintain social distance. you feel the caution and anxiety that characterizes big democrat run cities and states and again we have to point to the obvious difference with republican states. in texas governor abbott just banned government agencies from imposing a mask mandate. in florida my relatives tell me the masks are disappearing, celebration and release. this is the theme for months. when you vaccinate and open up, you prosper and thrive. when you keep nitpicking restrictions against medical science you do not prosper and

thrive, you wallow in your own negative anxiety. ♪♪ martha mccallum is with us. i am ranting here. is this back to normal from the northeastern democrat run states. >> it is not and it brings to mind what rachel maddow said. she's going to have to rewire her brain in order to see unmasked people as something other than a threat. it encapsulates a lot of the feeling of a large portion of the country who has been very dug in on this. time for people to wake up, to understand that all of the medical professionals are telling us if you are vaccinated, at the risk of getting this virus is

extraordinarily low. as americans we don't like to live with fear. and it is something governor desantis has done successfully and embrace independence, freedom of choice, going out to the restaurant where they are next to each other, shouldn't go. the impetus, the desire of people and human beings to gather, push these regulations in places like new york, and stronger than government ability to keep people apart and they will dictate where it is. i don't think people will say i was it next to this person at a table. stuart: we the people are way out front of the authorities.

let's talk about woke, woke companies like american airlines, coca-cola, nike are being hit hard with the new ad campaign. >> american airlines rated the worst. required passengers to show id to flyer, coca-cola is getting political attacking georgia's butler voting law, why, to distract, years of dismal sales, constantly political. congressional reports, nike's forced labor in china. stuart: do you think there is serious pushback to the mob. very effective ads, and enjoying the first amendment with apologies to prince harry, this is why they are allowed to do this. you can look at these situations and analyze why is

coke speaking out on this, there's a study, a recent survey that said 57% of americans do not want corporations to take a political stance on these things. silence was violence, if you don't speak out on every single issue you are somehow condoning it. that's not a way to live and corporations have a fiduciary responsibility, and shareholders, that is their business, to run a business. there's a lot of pushback on this. we are seeing it in schools, against corporations. time for people to wake up and realize they cannot take a political stance on every single thing. >> catch martha on the story,

and there is this. barstool sports guy dave portnoy invested 40,$000 into a crypto called safe moon. why did he pick that coin and why all the theatrics? he is on the show coming up. we will ask about elon musk, look what he tweeted about tesla. the news is coming thick and fast and the third hour of this program is just getting started. ♪♪

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comeback for the dow. it was down 500 half an hour ago, now it is down 400. not much of a comeback. bitcoin did come back, 31,$000 a coin earlier, 37,$000 per coin now. elon musk has been tweeting about it. i'm reading between the lines, not selling, that put bitcoin up 37,$000. next case, critical race theory is becoming a big campaign issue leading up to the midterms. mike emanuel is talking to the candidates on the trail. what are they telling you? >> here in virginia the republican nominee for governor tells me he is convinced many parents are fed up. >> it is viewed as being a political agenda, not an educational curriculum and by the way when i am governor we will not have critical race

theory in our school because it teaches division. >> the governor's race in virginia is likely to be a showdown between young -- and terry mcauliffe. he fired back saying i watched my campaign on education, you should read my plan. maybe it will give you the ideas if you ever decide to write one. several republican governor taking a step to ban critical race theory from the classroom in states like florida, and south dakota. instead emphasizing reading, science and math, help their students compete in a global economy. at the white house press secretary jen psaki rejected the notion children are being indoctrinated. >> don't think we would believe educating the youth, future leaders of the country on systemic racism is indoctrination. >> republican candidates are betting this is connecting with

voters of all political backgrounds, the first test in virginia and the governor's race in november. stuart: mike emanuel, thank you very much indeed. let's bring in doctor ben carson, secretary of housing and urban development. great to see you. >> that is a compliment, let's get serious. will let's get your take on critical race theory. >> we live in a amazing country. i visited 68 different countries that lived overseas. an incredible history. and emphasizes the negative.

and you got to where a mass, that is an important part of socialization. spreading the disease and killing people, if you're white you are told you and your ancestors are responsible for all the evil of the world, and forget about biology, think about science, and we expect people to grope and be normal, we got to think about what we do in this country. stuart: said with a smile, and historic proportions. and you got the case of the teacher, placed on leave for berating a student for not wearing a mask.

that student was vaccinated. >> as clips of the encounter show, based:the student, pulled his mask down which is this. >> i don't care if you are vaccinated, you little dink. i don't want to get sick and die. people don't like you. i don't like you. stuart: ashley: pretty disturbing. that you call the student a jerk and said people don't like you, i don't like you. those clips were posted on tick-tock and twitter and the teachers placed on administrative leave as an investigation is conducted, not surprised by that. stuart: let's bring doctor carson back into this. let's get your take on what you saw. >> it is so amazing. i feel sorry for that teacher and i feel sorry for so many people who are terrified.

they have been made that way by inappropriate messaging about this disease. we have done a yeoman's job first of all in developing a vaccine and distributing, we haven't done is be honest. a very large number, tens of millions of americans have natural immunity, they had the virus, clinically or subclinical cases, exposure to it and their immune systems have responded. the nih has done studies on people who had the disease and had long-term immunity. they are not talking about it, not sure why the cdc isn't talking about this but that is one of the reasons it is declining so rapidly, because the natural immunity. we need to acknowledge that and we don't know what the impact of vaccinating people with

natural immunity is and we don't know what the impact long-term is on children so we need to just look at the data and stop trying to parse it out to fit a political agenda. stuart: doctor carson, you make so much sense. we don't want you to be a stranger on this show, come back and see us again soon. thank you. you may have noticed on the right-hand corner of your screen the dow is down 380 points. it was down 500 a minute ago. maybe that is a comeback. susan is checking out the big banks. >> financials are selling, big declines and that despite the fact that yields went up, strange environment, you would think higher rates make more money off of their loans. we also had a lot of money chasing bank stocks,

$32 billion in the first 5 months of the year and already a record for any year and we are not halfway through 2021. speaking of the other money we want to check in on is crypto currency. you have elon musk putting up floor with his tweets the tesla is moving on to their bitcoin. i thought the musk crypto, he said we are holding on and that has rallied prices back to breach 30,$000 so bitcoin was close, we are down 30% on the weekends jpmorgan says it is because institutional money slows institutional money, negative for the first time so profittaking hit those records of 65,000, the average joe, retail interest is a theme and where are people putting their money, this will surprise you but according to jpmorgan they are turning into gold again. stuart: i'm not surprised at all, gold is very close to

$1,900 an ounce, 1700 level, now it is nearly 1900. interesting movement of money. the dow is down only 370. kirstie alley says she was canceled for supporting donald trump. >> you could be cooking masks and sleeping with hookers but as long as apparently you didn't go for trump. >> we have more from her conversation with tucker carlson coming up on this program and we told you about this babe ruth card selling for $5 million at auction. collectibles are becoming popular. we will tell you about another collectible investment that you can get into. we will be back.

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earlier today. now we bounce back, 36,900. more on that a little later. we've got this for you. new york and connecticut dropping mask mandates as of today. back to 100% capacity but there is a catch. lydia who is going to tell us what is the catch. >> the catch is masks are still required for now but they are rolling back a variety of other restrictions. they have done away with social distancing requirements, lifting restrictions on the capacity, you can sit at any single one of these terminals if you want to participate in the slot machine, no more plexiglas dividing them but we had a chance to talk to the foxwoods ceo about the decision to continue the mask mandate

even though connecticut is doing away with it for vaccinated people. they need more time to figure out how to develop a policy for patrons and guests versus the employees but they will expect, they are expected to announce a decision in the coming days to do away with the mask mandate altogether. listen to this. >> we were caught offguard by the cdc guidance and we are following the guidance and we enter the pandemic. we don't want to rush out of this, we want to make sure we are protecting our guests and our patrons. we decided not to lift as of today but in the next week you will see some guidance change. >> reporter: there are some big retailers that are dropping the mask mandate following the cdc updated guidance, retailers like target, walmart, costco, tabouli are dropping the mask rules for fully vaccinated people but other companies like home depot and ultimate beauty are continuing with the mask mandate, like foxwoods casino.

they said as they expect they will drop the mask mandate for vaccinated people in the next 5 days to a week or so. when they do so they don't expect to check vaccination cards at the door. it will be based on the honor policy. stuart: las vegas wide open. nevada wide open. connecticut not. thanks very much. now this. on the show we shone you record prices for baseball cards like the babe ruth card, $5 million or more, now we have a company that allows you to invest directly into baseball memorabilia, baseball cards. andrew left is with us. he talks about other things entirely but right now he will talk about muds. is this how you can bet the little guy, someone who doesn't

have $5 million. is this how you get into the baseball card phenomena and? >> yes. the reason why is muds is about to acquire -- it is 30% owned by the former ceo of disney. the company like many others around $560 million in revenue last year, if you think about baseball cards in the future, record collection in the future, baseball cards will be digitized and when you get a $5 million transaction you will follow the chain on it. the baseball card business is growing 30%. one of the biggest confectionery's in the united states, they own bazooka guns, top-tier management and buying at a fair price. stuart: how do you know this

spike in memorabilia prices and values isn't just a temporary thing. >> it could be. i would put my money on baseball cards over the beanie baby of the day. the multimillion dollar or whatever new form of asset is being created tomorrow, baseball cards have shown longevity and as a matter of fact whether it is target not selling pokémon cards because there is such hysteria over people buying them, the card business has proven itself and the transformation to digital is a natural progression compared to could all be one asset move? of course. this could be longer down the line. stuart: one last one. comes backs have fallen apart. why will blood's not fall apart? >> good question. a lot of them are just science projects. we are going to put this in space, q or this. they might sound like great ideas but this is a real

business trading at $560 million in revenues so the traditional business, second of all you have management so michael eisner said his 0 intention to selling so the capital structure of this is and where you have just looking to sell stock on the public. in the world's backs, this is one of the better ones. stuart: andrew leavitt likes it and i presume he owns it. thanks for being with us. i'm sure you do. thanks for being with us, we appreciate it and see you again soon. moments from now bill gates will be addressing the us chamber of commerce, the first time we have seen him since questions about his conduct surfaced with his separation from melinda. he reportedly transferred millions of dollars worth of deer stock to melinda. how much money are we talking about?

ashley: $850 million, that by the way brings the total value of shares transferred to melinda gates to $3 billion since may 3rd when they announced plans, shares of coca-cola, autonation and the canadian railroad, the latest transfer represents 2 and a quarter million dear shares which is about 7% of bill gates's total investment in the farm equipmentmaker so the money is quickly racking up. stuart: elon musk is no longer the world's second richest person. who is it now? stuart: that would be louis vuitton's ceo, bernard arnaud. musk's fortune totaled a mere

$147.3 billion while arnaud's pilot grown to $182.4 billion. both tycoons as you see from the graphic on the screen remain below amazon ceo jeff bezos who rains as the world's top billionaire at a mere $184.5 billion. the drop in musk's net worth comes as tesla stock as you've been talking about is on pace for the fifth consecutive down week, the longest weekly losing streak in more than 3 years. so far this year tesla stock down 18% and heading further down as we speak. stuart: got that, thanks very much. the dow is back down 400 points. it had a modest comeback, 400. tesla, 553.

joe rogan has a warning about cancel culture. role tape. >> you can never be woke enough. it keeps going further and further down the line. it will eventually get to white men are not allowed to talk. stuart: straight white men are not allowed to talk. i wonder if dave portnoy will respond to that. he is on the show in a couple minutes. first, major retailers cutting ties with big time biden supported chrissy teagan accused of online bullying. carly shimkus has the story after this. ♪♪

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stuart: we are looking at one% for better loss for the dow industrials, we are seeing some come back for the nasdaq, we

are seeing a comeback for bitcoin. the latest quote, 37,$400. when we started the show, 31,000 or 32,000, that is a comeback. facing backlash from her hollywood friends. she voted for trump. >> and apparently you didn't vote for trump. feel like i'm on the twilight son, and what i had many somebody's following and now i think 3 follow me. i voted for obama twice. >> we have more content on tucker carlson. it is on fox nation now. bloomingdale's is pulling out

of a deal with celebrity christie teagan, macy's and target dropping her cookware line. carly shimkus, why is everybody dropping her? ashley: all of this is over that cyber bullying scandal, the new york post reporting bloomingdale's walked away from a major deal with teagan at the last minute after macy's which shares a bloomingdale's, pulling the cookware line from its website, macy's rep telling fox news it is not actively selling cravings by christie teagan on its site. companies appear to distance themselves from the 35-year-old as allegations of online harassment come to light. and she committed suicide when stopping was 16 years old. and wanting me to take a dirt map but privately direct message me and tell me to kill myself.

things like i can't wait for you to die. teagan has apologized on twitter writing i'm ashamed and completely embarrassed with their behavior but nothing compared to how i made courtney feel. courtney was married to singer john legend, made a name for herself or her sharp media commentary and attacking anyone she doesn't like especially former president donald trump and his family and her brash personality led to her popularity it is now appearing to backfire. some retailers selling her cookware and cookbooks including amazon, barnes & noble, a mutual decision was made to no longer carry her products in december before the cyber bullying scandal came to light. stuart: interesting stuff. thank you very much indeed. portnoy is pumping up a crypto coin as the rest of the cryptos

fall out of bed. i will ask about his investment in safe mood. what do you think about elon musk manipulating the crypto market. portnoy is next. ♪♪ ♪ na na na na ♪ na na na na... ♪ hey hey hey. ♪ goodbye. ♪ na na na na... ♪ hey hey hey.

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stuart: here is the tweet from elon musk that did move the bitcoin market is in might not mean much to you. are you need is a diamond similar in two hands. it will not be selling the bitcoin. that was not enough to put bitcoin up from 32,$000 to its current price of 37,000. dave portnoy is with us, great to see you, good to have you on the show especially today. i think musk is manipulating the market and you are doing the same thing. what do you say? >> elon and i, he is a monster, he goes back and forth, i don't to do that. i wish i had his power. i wish i could to the degree he

does but the thing that is frustrating for a lot of people is one second elon will say, and loves doge and that is good for the environment. following a guy who goes up and down that is frustrating. >> brings the whole market, into disrepute. if the value, their price depends on what a celebrity says 10 seconds ago. a generational thing going on. older investors want to see some value, some profit, the next headline from a celebrity. >> it is widely disingenuous to say some bozo from merrill lynch from cnbc or foxbusiness,

we like this stock, not the best info for their own purposes, that doesn't move the stock price, that is just a different version, let's not pretend it doesn't happen with normal stocks. stuart: i run a clip of view, pumping up safe moon. very theatrical. role the tape please. >> i have already purchased 40,$000 of the coin that i will declare my allegiance to. the answer is safe mode. safe moon is in the dave portnoy business, to the moon safely we go. stuart: that is pumping up

stock, pumping up a crypto. if this market, if the crypto market were regulated you wouldn't be allowed to do that. they would not be allowed. >> i am very clear, you caught the video but i say i don't know what i am talking about. that is with your own money. i'm pretty sure you could do that. a long history of that. i hold everything i say i am doing. stuart: you will hold safe moon forever. >> i will hold it for the foreseeable future, years, not months. if i am getting ready to sell it, it would never be prefaced with go by it, don't want to get a price. i would never do that. i'm involved in pen right now,

it totally different ball game but i own a ton, i don't sell it, this is long-haul, elon musk is flip-flopping week to week like how did he know the environment was bad for bitcoin when pumping in a couple months ago. i don't make claims like that. i called it -- i'm not going to swear, f point. if you are paying attention to it and have a brain you should be able to figure out why i was doing it, that should be up to you. i can't hold a gun to someone's head. you got to use your brain. stuart: i will try. bring me up to speed on safe moon. when you recommended it how much was it worth and what is it worth now? >> a lot of 0s in front of it. i owned these coins, it only cost me 40 grand.

it was down 25% when i did that and up 10%, now it is down 30. it is all over the map, a wild ride. we are getting scammed, anytime someone gets paper towel hands and gets out. the safe moon army, they are strong and holding on. i am worth hopefully a gazillion dollars and he can cruise around on yachts. stuart: no such thing as bad publicity. it is all about online publicity. >> in my business if they are talking about it, it is good. stuart: not the same in my business but that is another story entirely. we are intrigued by it and the ratings go up.

>> playing the same game. stuart: not quite. at my age i am not playing the crypto game, not at all. come back and see us again soon. thanks for being with us. i will segue to the trivia question. the apps segue. which country won the first ever soccer on cup in 1930. i was right, we bring in ashley webster without us telling him. we will be back with the answer. usaa reached out before could even inspect the damage. it that's how you do it right. usaa insurance is made just the way . . usaa. what you're made of, we're made for.

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stuart: we ask you before the break which country won the first-ever soccer world cup in 1930? i got this right, uruguay. i don't think they ever won again. two big stories today, the selloff in stocks and the selloff in bitcoin and the other cryptos. i will give it to the jackie deangelis to take us through it. jackie, it is yours. jackie: good afternoon, thank you so much, stuart. welcome to "coast to coast." i'm jackie deangelis in for neil cavuto. some stories we're following today. start with a big reopening coast to coast. new york, most covid restrictions but will new yorkers themselves come back? that is the question. we have a live report coming up. plus many are celebrating the lift offing of mask mandates some major unions are slamming the cdc for thatio