liz: nice to hear good news about boeing. it has been a while. let's hope the irs thing has no legs, really bad news. dagen: the cuomo bro show ever get canceled? on tv and in albany? probably not because they are liberals. maria: we believe it there. have a great friday night, see you on wall street. "varney and company" begins right now. stuart: the cuomo bro show, you got a way with words. good morning everyone. it is the end of a very tough week. here is the state of play, full recovery for stocks, cryptos not so much. the dow up triple digits premarket, firmly above 34,000.

the s&p, up a third of one%, the nasdaq also on the upside about one third of one%. not that inflation fears proceeded but that the fed might start to discuss at the appropriate time tapping the brakes on money printing. that reassured investors. look at the 10 year treasury yield coming in at one.61%. that helps the nasdaq, interest rates lower, the inflation threat receding a little. look at the cryptos. bitcoin quoted at 40,$480 per coin. 's theory of at $2,600 and doge at $0.38 as we speak. this is not as robust a

comeback because their head winds for the cryptos, bad pr from the pipeline bitcoin ransom and bad pr from celebrity manipulative tweetss and send regulation was one of our guests said some form of regulation is inevitable so you don't have such a strong comeback for cryptos today. in an hour we get the number the realtors pour over, existing home sales, good indicator on the state of the housing boom. we expect fewer sales but higher prices. the cease-fire holding between israel and hamas. netanyahu appears to have achieved his military goals, the jerusalem post reports 100 kilometers of tunnels have been destroyed. president biden says america will lead the rebuilding and reconstruction of gaza likely through the united nations. that is your tax dollars at work. friday may 21st, 2021, "varney

and company" is about to begin. ♪♪ she loves you ♪♪ eaa and ♪♪ stuart: nothing is quiet and upbeat as she loves you by the beatles on friday morning. good morning, everybody. good morning susan. let's kick it off with musk and dogecoin and a new tweet. now what? >> after wednesday's shake out in the crypto market things of called down. dogecoin got a boost as we check this tweet from musk, he hasn't pulled his dogecoin and doesn't plan to sell any of his

dogecoin, as we know the tweets turning around the wednesday selloff. if you look at what is happening in the crypto market there is an overhang of regulation. the treasury department announcing it will require any transfer over 10,$000 will be reported to the irs. that is a lot of reporting. whether it is bitcoin, either or x rp, either is down 2% this morning. online 4s, the type of volatiles of 10,$000 bitcoin, 30% plus in one single session, those that can afford to hold have more money, those that were speculators and the average joe probably got shaken out and lost a lot of money. stuart: i noticed musk's tweet on doge didn't work today. doge at $0.38 a coin. >> it did work because if you look at where dogecoin was when the tweet came out it was

closer to 45. it was up basically. stuart: okay and it is at 38. moving on checking futures, some green here, 100 points for the dow, 58 for the nasdaq and he's here, the man with the energy first thing in the morning joining us now. what do you think of this? stocks up recovering, cryptos not so much. you agree? >> yeah. this is the kind of stock market and crypto market that will give you whiplash if you are reactive rather than proactive. big swing sector rotations are flip-flopping day after day and just when you have it figured out it proves you wrong the next day. one day tech is a dog and then the next day leading the rebound. a lot of traders talking about how difficult the environment is. i am happy i am an investor, not a traitor. i'm licking my chops when my favorite stocks fall into my lap.

don't be impulsive. you got to be patient. you've got to have a plan and execute accordingly. stuart: one of the big things apart from swings in stocks and the crypto mania, apart from all of that to me one of the big things is the huge travel come back, no question travel is back. my question to you is how do i play on the stock market the travel come back. >> travel is doubt. i traveled a few days this week, went to minnesota to do a little presentation, got back last night. the airport was busy, flights were full. you have opportunities in the airlines, united would be my pick in the airlines, hotels are little too rich, look at the casinos in vegas, caesar, mgm look to be very attractive but as relates to reopening, restaurants have come a long way.

you mentioned memorial day next weekend, next weekend is memorial day weekend. for us who live north of the equator, that is the unofficial kickoff for cookouts and barbecues. i like barbecue holdings. who doesn't love good barbecue around memorial day. that is a great reopening play. stuart: you buy barbecue stocks. on friday morning the markets going crazy and you are recommending barbecue? give me the stocks again. what are they called? >> if i can remember. barbecue holdings had a blowout quarter. small company, 100 million market. they can double over the course of the next month or two if investors get behind, just had a strong quarter. they will have a big comeback as the world reopens. one of the great things about barbecue you can eat in the restaurant but it also travels well.

the door-d-ash thing. stuart: do you own it already? >> i do. i bought some earlier this week, love it, probably some more as it continues to move in the right direction. stuart: see if you move the market today. fed chair powell says we could begin discussing a digital dollar. that is interesting. susan knows about this. is that different from the crypto currency? and does a digital dollar pose a threat to crypto prices? >> digital dollars are different because they are backed by the government and treasury's crypto decentralized independent from government en bloc chain and powell says the real competition process on the digital dollar will start this summer and be a great way to hear the current thinking when it comes to digital payments,

benefits and trade-offss of central bank back digital currency, stressing any digital dollar will not be a replacement of cash meaning it is independent and the us needs to keep up with china which took their digital dollar, the us had to play catch up but you have decentralized community building and that adds value to crypto currency where the digital dollar is just a dollar but in digital form. >> what about john deere, they reported earlier this morning, the stock is up 2% and they did well. >> you have one, right? heavy-duty lawnmowers people are buying them like you and selling a lot more, the company raising full-year forecasts saying a rebound in a global economy is boosting demand for farm and construction

equipment. at footlocker, they made almost twice as much profit as investors anticipated in the first quarter of this iran footlocker's ceo said consumers are using and spending the stimulus checks. i was a sounded that same-store sales surged 80% in the first quarter of this year. 80%. a difficult time last year but still. >> we were not buying many shoes last year. >> i won't ask if you are wearing sweatpants underneath the people were gravitating. >> just jeans. let's look at futures again because we are going up with "the opening bell" this friday morning, nice bounce up and down 120. the co-ceo spending millions of bucks to boost california governor newsom's war chest against the recall effort, netflix wants newsom to stay. are you vaccinated, single, and

ready to mingle? the white house wants to ♪♪ ♪ ♪ ♪ ♪ ♪ ♪

[ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience.

are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... to receive fifty percent off installation. and take advantage of our special offer of no payments for eighteen months. ♪♪ california dreaming ♪♪ stuart: always think california has got to be hot. it is not. i used to live in san francisco and it could be getting real cold especially at night. you are looking at california, san francisco, 50 degrees.

to wall street going up "the opening bell," futures show a gain of 140 points for the dow industrials, big tech on the upside, premarket for you. all from higher again, good day yesterday, not a bad day this morning. big changes coming for uber and lift in california. is the formerly golden state messing with the gig economy? >> forcing uber and lift to go all electric by the end of this decade in 2030. the california air resources board voting thursday to force ride hailing companies use electric cars in two years and then by 2030 at least 90% of the miles driven by ride hailing companies in california have to be done by electric cars. remember governor gavin newsom issued that executive order, he will try to eliminate the sale of new gas cars by 2035. is it that much of a surprise? not really.

uber and lift know that. they have been transitioning. uber drivers who by electric cars, lift drivers can rent electric vehicles. and not what is happening with their stock price today. >> mark mahaney joins us, demand with ridesharing companies. it is strong at the moment. is that accurate? >> there are elements of ridesharing demand like commuting to the office and business trips to the airport that are still pretty weak. it is a gradual recovery, don't have growth versus the 2019 levels and won't see a full recovery to those levels of the pre-covid levels until the first half. it is stronger than it was in the middle of the last half of last year. there is still a ways to go here.

>> you did a survey of netflix users. what did you find? >> netflix is a by for a $650 price target. the results were mixed and we did survey work in international markets. the key things that you need to know is 90% of netflix's some growth is not in the us but overseas, tracking what is happening to netflix in those markets, to see popular shows, a european crime thriller somehow that is doing. we see mixed results. in japan and parts of western europe. stuart: is netflix's output $16 billion a year on content, what they are putting out popular outside the united states, aimed directly at markets outside the united states?

>> absolutely. this is the way i frame it, 16 billion shots, nobody knew a year ago about the queen's gambit, those turned out to be phenomenal bestsellers, very popular shows the company has. there is this title in europe call. pan which could be as big as what was known in the us as money highest. they created these local language originals, produce content in korea for koreans, japan, france, germany, got around the world that is what they are doing, what their original content spend is going. we do our best to do it and they had reasonable success with this, 16 million shots, if they get a few to get into the zeitgeist, that is how netflix will, has succeeded in the past and how we think we will can succeed in the future. stuart: you are kidding me.

the queen's gambit raised chess set sales? i didn't know that. >> it did. you have something like netflix, this is global enough, popular enough, there are 208 million people who stream netflix globally, they can take these shows and make them wildly popular. netflix can take your content and entered into the right place and it will have impact. it led to a surge in demand for chess set sales last year. stuart: what was your target price for netflix stock? >> 655 or higher. a somewhat dislocated stock, this is not one of the most popular names in the internet sector. we had missing numbers last quarter, stocks came in week. the back half of the year we will see a stronger content play, not sure exactly when the stock takes off, this $500 level, there is reasonable upside waiting into the stock.

stuart: contrarian mark mahoney, $650 the target. one more report on netflix. the ceo, the co-ceo reed hastings stepped in to protect governor newsom against the recall effort. what did he do? >> he has done very well. reed hastings is donating $3 million, not a lot considering he is a billionaire, against the recall, those millions represent the largest single donation to date for the recall campaign. a turnaround, reed hastings donated $17 million for the campaign, one of new synapse competitors in the 2018 governor race. newsom has drawn in 6-figure donations and industries, the 49ers ceo, law firms and labor unions as well.

>> i will put reed hastings in the liberal column. >> california hollywood, yeah. governor newsom wants to make sure google stays in california. >> sign a new bill, to the mega campuses, and when finding these bills, the city council decision next week, 80 acres in san jose, 20,000 employees will be staffed there. no particular in terms of dollar amounts, paying $100 million, the leap, not the land and add $2 million in

community benefits to get that deal pushed along and improved. stuart: i will put google in the liberal column too. >> i will look at the money, the dollar amount. >> stay with the money. looking at futures, friday morning going up especially the dow industrials. speaker pelosi had gop members with a $500 fine for going maskless in the chamber but that is the speaker walking through a maskless crowd without a mask.

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1999. the same thing in 2021. not just public exception, that is the tip of the sword. and bitcoin dropped 40%, rebounded somewhat. 45,000, i am a bear, telecom strategy and all the other things. to the bitcoin bust. stuart: i understand why you're there on these companies, $1.5 billion worth of bitcoin. they are tied into the crypto market.

and put dot.com and their names, amazon.com was there former name and same with ebay and after the dot.com crash they took it out of their name. and thousands of one% over the last couple months, it is weak right now and the fact bitcoin base, major ipo, crypto exchange couldn't hold its ipo price you talked about chess in your earlier segment. to see the whole board, crypto's weakness spells weakness for risk writ large. stuart: good stuff. thanks for being with us on friday morning. it is 40 seconds to go to "the opening bell" on friday morning. and interesting session because it wraps up a very tough week. we saw some serious selling

especially tuesday and wednesday, not come back yesterday. what happens today? invariably going we will see some green. how we close this afternoon, haven't got a clue, this volatility, you don't want to be predicting how market closes. they are cheering, any moment now they reach that bill. and i expect to see some green and see how long it lasts. trading from the start, 150 points. the vast majority of the dow 30 are in the green. they have a game of half of one%, the dow industrials. show me the s&p 500. it is on the upside and the gain is half a percentage point. the nasdaq composite not so

robust, it is a 0.6%. 13,600. boeing, big influence on the dow up 2%, they plan to increase 737 max jet output to 42 jets per month in late 2022. 232 on boeing, that helps the dow. what do you have new on them today? >> given that wednesday was not looking good, the nasdaq is on track for the best week since mid-april. what a difference a few days makes. 4 weeks of selling have shaken the speculators, yields are holding steady, they stayed

around 160 or so, and positive the last few sessions as well. stuart: in the middle of selling i was thinking about selling half of microsoft. >> we are closer to 42,000, two%. the volatility is here to stay. you have to understand the routine and the weekends are busy for cryptos. interesting to see what bitcoin does. >> tesla stock is up a little bit this morning, because bitcoin has come back a little bit. bank of america cut their price target. tell me how much they cut the target and why they have done it. >> they cut it to $700 from

$900 and the reason is they are concerned about the quality of profits and sales growth as well, stock is up partly based on the fact that the prices are up, $1 billion, bitcoin holdings, elon musk speaking out again in an interview in russia. hinting that tesla might be opening a new production factory in russia in the future and we are below $600. the highs of the year were above 900 and roughly 30% for tesla. stuart: the last 52 weeks tesla was at one stage above 900. >> the highs of the year, let me double check that. it has been underperforming the last few months. stuart: it sure has. you've got the news on palo

alto which i see is rallying big time up nearly 6%. why is palo alto up so much. >> cybersecurity a much-needed services especially in light of the colonial pipeline hack and it is a great example of that demand, better sales, better prices raising their forecast thanks to an increase in remote working security issues and challenges the company faced and you have to give it, working softbank, in turning around the company. stuart: it is 7% now, 30-seconds after being up 5.8%. >> $900 on the dot so that was resistant want tesla hit 900 to sell back from there. >> it sure did. i am looking at the dow which is up 216 points on your screens, boeing tops the list

up 2%, producing more max jets. the s&p 500 the winners are on your screen right now. nvidia, talking about that in a long time, i've seen it go up, it should be ranked as a big tech company, the world's largest shouldmaker up 3%. go ahead. >> the reason it is up is it is very surprising news that came through. they are proposing a 4 for one stock split at their annual meeting, the shareholders meeting that will be voted on next month. that make sense. think about these tech companies like amazon trading at $3,500, really hesitant but nvidia will do this and more people get in. stuart: reminds me of the old days 20 years ago. if your stock went to $100 a share you split. you just did that but that went away with amazon and google and the rest but here comes nvidia. >> you can get shares these

days, you don't have to buy the whole thing but there are voting rights that have changed with each share at each different class of share so that is partly why we don't see the stock splits anymore. stuart: but they approve of nvidia's for for one split because it is up 3.one%. >> they will vote on that, proposal for management but mostly it will get through. >> put my money on it going through. at&t, i know they are moving, up one.7%. what have they done? >> getting two upgrades which i find surprising after the mega media merger. they are cutting their dividend as a result of that deal, ubs calling it a by, $35, what is that, roughly 15% to 20%, the same price target, i went to check on sauna as well, the collaborative workplace software developer built i of

the early facebook founders, worth $40. kansas city southern ditching canadian pacific and taking the higher offer, makes sense, $35 billion deal and earnings, north base, posting a mixed quarter so they beat when it comes to sales a little less and light when it comes to profits. the majority of their supply chain, this is an isolated event. >> the dow is down 6%. >> no charity this friday. stuart: that is the way it is. market check dow is up 276, check the 10 year treasury all the way down to one.61%. that is important. think we have an inflation threat? that yield would go up.

instead it is going down. price of gold gets closer to $1,900 an ounce. 1887 as of right now. i expect we'll to be $63 a barrel. it hit 61 earlier. the iranian this, reports from inside iran, expect sanctions to be removed, they expect to export oil again. no change, $3.04 per gallon, do you remember this. a confrontation on the tarmac, real showdown went on for 8 minutes. rashida tlaib demanded president biden intervene in the israeli-palestinian fight. she didn't get the cease-fire when she wanted it but pushed biden into spending, to rebuild gaza.

bitcoin investor, is he worried about regulation, maybe. i will ask him next.

it matters who you travel with.

stuart: the story of the stock market is full recovery from the week selling and losses, it is that even, so has the s&p, it is up on the week, i call that full recovery. got to get to bitcoin. harsh words from of all people deutsche bank. what words about bitcoin.

>> trendy to tacky. the cell of is a long time coming, the crypto currency market, it reaches the critical adoption and retail investor forms calling bitcoin the boomer in the crypto currency market. the crypto currency market, it has been a while, they prefer dogecoin and jpmorgan said the value is 35,$000 but you learned a new term yesterday, you learned a new term, toy. >> trendy to packing. trendy to tacky. i'm trying hard but failing miserably.

look who is with me, brock pierce, chair of the bitcoin foundation an early bitcoin investor. it is good to see you. i have to raise the issue of regulation, stanford university lecturer said regulation is almost inevitable. making bitcoin regulated like a stock rather than currency. can't see how that would be good for cryptos. >> we had regulation since the launch of bitcoin, most of them, i am in favor of spoke regulation, martin regulation, sensible regulation that support the ecosystem. should be regulated as a commodity? that is the question. my biggest concern is

regulations are sensible, and support the well-being of the american people, the greatest will transfer in history of the world, the industrial revolution, i hope the american people are beneficiaries of it. i hope we regulate this at a state level. so that the states can try out a bunch of different things before the federal fight government gets involved because if the federal government gets involved it will be political. lobbyists, i hope we do this at a state level. and hopefully it serves the american people. >> if you did get regulation, celebrities would not be able to manipulate the market as they have in the past because they would be cracked down on by the sec or whatever the authority was.

how do you feel about that? >> the role of regulation is to serve and protect the people like any new industry when there's an asymmetry of information and a lot of value being created in a short period of time. attracts bad actors, and i do care, is about sensible regulation, the big volatility which is not the first or last time we see that, it is given by china, the detriment to chinese institutions or the chinese people, what is interesting to note is 11 years ago tomorrow is bitcoin pizza day, 10,000 bitcoin reused by two pizzas. we've come a long way since then.

stuart: do you know if the pizza shop owner still has the 10,000 bitcoin or however many it was? >> it was done through a message board, someone said i want to buy a pizza so an individual but the two pizzas with her credit card in exchange for the 10,000 bitcoins. i don't think the pizza owner or shop was the beneficiary. stuart: someone out to have held on to those 10,000 bitcoins. the rearview mirror is very clear sometimes. thank you for joining us. come back soon. markets, look at this. we erased all the losses of the week for we are now above water, the s&p, and the manufacturing sector.

>> better than anticipated for the us economy, manufacturing, coming in higher, 60.to better, the pmi flash for the month of may at 70.one, and the take away is the us economy is recovering and reopening. stuart: especially services. we know a bbc journalist lied to secure the exclusive interview in 1995. that is trouble for the royal family. william and harry are furious and you will hear from them. apple's tim cook will take the

witness stand today, the ceo of the most powerful richest company in the world, in court raising his hand to tell the truth and the whole truth. defending against antitrust claims. susan has details after this. ♪♪ proven to help you live significantly longer when taken with fulvestrant. verzenio + fulvestrant is for women with hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising.

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stuart: that is denver, colorado, 8:00, 62 degrees. tim cook will make his first ever appearance in court today, apple battling fortnight, the maker of it back. what should we expect? this is the final days of the trial. >> first time testifying on the witness stand for tim cook, first time in a court room. the final day of this epic battle races apple over the apps store and the fee they charge, 15 percent-30%, epic says that's too high and there is no alternative place, apple

contends 15 to 30%, the same the google and x box charge and that is the price of entry, you don't walk into mcdonald's to negotiate the price, why have that opportunity in the apps store? talking to lawyers on both sides epic has an upsell climb, and in the court room not doing a great job so far, ceo tim sweeney on the witness stand on day one less then impressive and countering his own argument and making apple's case on the apps store. apple is arguing epic is just looking for a better deal and this is a pr stunt especially as their sales continue to fall. they argue 80% of the apps on the apps store are free. in terms of what tim cook is going to say he is usually very polished and very prepared and it has been preparing for some time to get on the stand so i don't think we would hear anything different than he has already said in his

congressional antitrust hearings. stuart: he has the apple or the upper hand at the moment. before we go to break up got to check the markets because we have a rally on our hands with the dow is up 300 he raising the week's losses, s&p up 24, he raising the week's losses. still today tammy bruce, steve hilton, kayleigh mcenany and the united states will lead the reconstruction effort in gaza. that means your taxpayer money will be used to rebuild that. we can thank the squad for that and we will be back. ♪♪ ♪♪ i'm crying ♪♪ i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100

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♪ jump for my love. ♪ jump in and feel my touch ♪♪ stuart: good morning, everyone. it is 10:00 eastern. it is friday morning, and let's get straight to your money. you're going to like this, green across the screen. the dow is up 300, erasing all of the week's losses. same story with the s&p, up 28, erasing all of the losses. nasdaq up half a percentage point. big tech on the upside, again, all across the board. mostly losing all of the losses that we we had earlier in the

week. and where are we now? we've got there your big tech. apple is down at the moment. amazon, facebook down, alphabet, microsoft up, but they've pretty much recover from the selling earlier in the week. bitcoin, $41,200. ethereum down. that's stocks, that's cryptos, and now big numbers for realtors. existing home sales. good morning, ash, what have you got? the. ashley: good morning, stu. 5.85 million. that misses the estimate of just over 6 million on an annualized basis. let me see, up 0.2% month over month -- i'm sorry, down 2.7% with that number. it was 6.01 million in march, we were expecting 6.09 in april, and we missed it. there has been issues, as we know, with housing. a, not enough for sale; b, rates

are starting to rise. it's certainly -- but, you know what, the average price, i'm just getting the numbers here, just over $341,000. that is also a barrier, if you like, to people trying to, you know, buy a home. that is very high. it is a historic high of 329 in march, 341 in april. so that is a big story there, stu. stuart: $341 ,000. my goodness -- ashley: $341,600. yes, very quick. stuart: health not forget that. details. [laughter] all right, ashley, thanks very much, indeed. and now this -- ashley: sure. stuart: the united states will lead the reconstruction effort in gaza. the rebuilding will likely be organized through the united nations. cue the eye roll. it's your taxpayer money that will be used.

why is the biden team doing this? look no further than the extraordinary power that the far left now has within the democrat party. it was exposed for all to see when congresswoman rashida tlaib confronted the president on the tarmac in detroit. for a full eight minutes, she demanded biden intervene in the palestinian fight. the president went away and made a series of calls to benjamin netanyahu pressing for that ceasefire. israel refused. the jerusalem post reports 100 kilometers of underground tunnels were destroyed by the israelis. that was israel's objective. and when it was achieved, then you got the ceasefire put in place. so now to placate the far left which didn't get the ceasefire when they wanted it, we have to pay up to rebuild gaza. how about that? we are told in return for the cash, that asthmas must not --

hamas must not be allowed to rebuild its tunnels. good luck with that. we tried it a few years ago, and it did not work. what a mess. during the four years of the trump administration, israel signed a peace deal with four air ab states. in four months of the biden administration, there's already been one war, a policy reversal with our enemies -- iran -- plus a commitment of our money to the palestinian cause. cue that eye roll again. the second hour of varney and "varney & co." is about to begin. ♪ ♪ stuart: tammy bruce is with us. not the big smile this morning, please. why do we have to pay to rebuild gaza, tammy in. >> well, we don't have to except we didn't know that, in fact, the squad seems to be the

president. you knowing, americans did not vote for that. there's a lot of things gown on that americans don't agree with -- going on. normally you have a general understanding or agreement with what a president would do because that person's been voted in, and we know what the policies are. that's why they run on policies. in this case we're looking at individuals who, in a local area, really couldn't get elected to be dogcatcher. aoc, as an example, had about an 11% turnout in her election. that is abandonment of that district by voters in general of both parties, clearly. so you're looking at biden or whoever's running him being able to be pressured by those who americans do not want making decisions. as you noted, this is the other moral problem for america, is that by crawling up to iran on our knees with obama giving them billions of dollars and now with us throwing all of this money at what is hamas which is a death squad of iran, which runs the

gaza strip, we are contributing to the misery of the arabs who live in the gaza strip. you know, they also don't want to live in this hellscape, but that's what this death squad gives them. there is no way out for them. so many arabs prefer and do live in israel because of the nature of its democracy and of its fairness. so we're condemning the arabs in the gaza strip to more misery, we are con demming everyone -- condemning everyone in that region to more problems because of course the death squad is going to use the money to build more tunnels, to get more technology and the kill more people. and we're funding this. stuart: yeah. i mean, it's unbelievable when you think about it. we are paying to rebuild that. unbelievable. tammy -- >> you know, it's a contribution to terrorism around the world. yes. stuart: yeah. well said -- >> i understand. stuart: tammy bruce, you're all right. hope you have a good weekend. see you later.

good luck. >> you too. stuart: back to the markets, we've still got some green. we've erased the losses of the week, just about. the gentleman on the right-hand side of the screen is dennis gartman, our oldfriend who rejoins us this friday morning. all right. a guest op on this program yesterday predicted that when the next bear market, when it comes, it will be, quote, a. monster bear. what do you say to that, dennis? >> well, i hesitate -- i'm somewhat bearish with stocks. i haven't liked them for several months. the fact that we've gotten back higher for the week is impressive, but clearly we're lower for the month in the nasdaq, lower for the month in the russell index. i hesitate to say that it's going to be a monster bear market. i think there'll be a bear market sooner or later, i suspect it's already in the infancy at this point. do i think it'll be earth-shattering and a monster? i think that's ill-advised. i think that's

publicity-generating and probably something that will not come to fruition, hopefully. let us hope that it doesn't come to fruition. i don't believe that it shall. stuart: all right, let's hope. i've seen a strategist saying that gold at this moment is still relatively cheap and could surge back to its all-time high. i've heard that before, i'm hearing it again right now. is gold still your favorite bet against inflation? >> it is still my favorite bet against inflation. i much prefer it to the cryptos. as i've said many times, gold has history to it. it's something with polish to it. it is frank sinatra compared to a rap musician. it is something that we can understand, it makes sense over history, so i like gold. and as the chairman of the university of akron's investment committee, i actually moved us back into gold in february. i've been very fortunate, very lucky. i'm not a gold buck. there are times when one is to own gold, times when one is to

be short of gold, times when one is to be neutral. it's up 9%, i don't think i'd buy any right now. on any correction, however, i will be the monitor. inflation is always and everywhere a monetary phenomenon, and inflation shall be higher a year from now. i think it'll be beneficial to the gold market going forward, but would i buy gold today? not after the rally that we've had. stuart: okay. we'll be watching gld, that's the way to play gold, it's the easiest way -- >> that's the best way to play gold. stuart: dennis, you have a great weekend, and we'll see you next week. >> great comments on israel. stuart: thank you, dennis. i didn't mean to cut you off right there. i appreciate that. we like -- i've got some positive comments coming in on my little phone here as well. good stuff. all right, susan, i don't think what you -- i don't know what you think of my little editorial at the top of the show. it doesn't matter -- [laughter]

oh, oatly up 7%. it's not milk but it's oat milk. susan: yeah. did you see the first day debut yesterday? went out at $17, they closed the day above 20 and again adding to that, adding to that 30% bounce on its day one debut, and this roughly values the company at $15 billion. the two swedish brothers that founded the company, they are now worth close to $6-700 billion right now. nvidia, big news from the world's biggest chipmaker announcing a stock split. shareholders meeting on june 3rd, and we've seen this with apple and tesla stocks split in the summer, it's usually very bullish for the stock price. more sales and more money in the first quarter with, also giving a really upbeat forecast despite the global chip shortage that we

continuously talk about, and carnival says that its flagship brand along with holland america will restart alaska sailings this july, and the new legislation just passing congress means you get temporary waivers and waiving the rules that force alaska cruises to make a stop in canada. so you can go direct and straight out. stuart: i think the stock will be up some more if they can different say, yeah, we're cruising from florida in the very near future. [laughter] susan: florida's a hub, so yes. stuart: it sure is. all right, susan. the treasury weighing in on the cryptos. back to you again, susan. what's the treasury saying? >> susan: okay, this is the regulatory overhang we've been talking about. so the treasury department which, of course, oversees the irs announcing that you will be required any transfer, you have to report any transfer over $10,000 has to be reported to the irs. and given bitcoin's trading at 41,000 and change, i think

that's going to be a lot of reporting. also after wednesday's 30% shakeout, i would say that the crypto markets have calm down. bitcoin -- calmed down. bitcoin back up. dogecoin though, i think, is a special case. it did spike based on another elon musk tweet saying he won't be selling any doge. and i call it the musk put, that floor in the crypto market and the turn around between that wednesday selloff, but there has been talk of capitulation in the those online forums especially amongst the younger online retail investors. deutsche bank calling bitcoin tacky from trendy, and what they're preferring these other alt coins, even dogecoin is one that they talk about. jpmorgan says fair value for bitcoin is now $35,000. stuart: i know a lot of people who thought they could avoid capital gains taxes because of

the secrecy surrounding cryptos and bitcoin. it's a negative, the irs says you're not going to get away with that. and then there's this, super, former attorney general bill barr speaking out for the first time since leaving office, and what was his subject, his target? the woke public -- he's a good man. watch this. >> the state of our public schools is becoming an absurdity. their drive to instill a radical secular belief system that would only, that would have been unimaginable just a few years ago. stuart: he's calling it indoctrination. we'll give you his full comment just ahead. speaker pelosi, she's fined republicans for not wearing their masks on the floor of the house. here she is just yesterday unmasked in a crowd at the white house. critics are critical -- [laughter] what do you expect? first though, president biden waiving sanctions on russia's new pipeline. my next guest says, hey, not so fast.

north dakota senator kevin cramer is here. what he's going to do to reverse these decisions. we'll be back. ♪ ♪ experience capability, crafted by lexus. the remarkable gx and lx. lease the 2021 gx 460 for $529 a month for 36 months.

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♪ stuart: the rally is holding, although it is fading a little on the nasdaq. it's only up 18 points there, but we're still up a 250 for the dow industrials. take a look at tesla, please. i believe it's on the upside, but it's still shy of $600. elon musk is looking at russia as a potential production hub. 588 is your tesla quote right now. president biden waived u.s. sanctions on russia's nordstream

ii gas pipeline. our next guest wants to undo that policy. senator kevin cramer, republican from north dakota, joins us now. mr. senator, do you have enough support to bring back sanctions on nordstream ii and kill that pipeline? can you do it? >> i believe that we can, stuart. thanks for having me. when i introduced the bill, within a matter of a few hours we had 14 or 15 cosponsors. and remember that this is an issue where the nord stream 2, the official policy of the united states to oppose the pipeline which makes it very absurd that the president of the united states, the commander in chief looking out for our national security and our economy, would actually lift the sanctions that we had put into the national defense authorization act just last year. so it's really absurd is. here we have a president who's deliberately and aggressively killing our energy industry and jobs while at the same time trying to, you know, build

russia's. it makes no sense. stuart: have you got any democrat support at all for this? >> well, remember, this announcement was made last night. we just introduced the bill yesterday. we've not talked to democrats. of course, we're now not in session until next mopped, but we do have a number of democrats who have spoken out against what the president did, we have members in the committees who are democrats who have been strongly opposed to lifting sanctions, they've been greatly opposed to nord stream ii, official position of the united states of america. but here's the really crazy thing, vladimir putin's natural gas is actually produced and shipped via pipeline with about a 40% greater carbon footprint than u.s. natural gas in liquid form and shipped to the same locations. so it's bad for our economy, bad for national security and bad for the environment. orrin that, it's a great idea -- other than that the, it's a great idea. stuart: extraordinary. you're right on all counts, mr. senator.

while we have you with us, i wish you'd comment on israel and hamas, the ceasefire agreement after 11 days of conflict. president biden is going to provide rapid humanitarian assistance to gaza. okay, we got that. but we will also, america will also lead the rebuilding effort for gaza. why do we have to pay for this, mr. senator? >> well, it's just about as upside down as what we were just talking about. you know, letting vladimir putin build an energy industry while we destroy ours. remember that much of the conflict in the middle east and while there's some, obviously, serious and deep-rooted historical problems, some of it's directly related to oil. remember iran, of course, is really fighting the war for hamas. hamas is their proxy as is hezbollah, and so once again we're plague footsie with iran looking -- playing footsie with iran, lifting their sanctions, allowing them to put more oil into the marketplace. just gives them more money to fight these wars.

it just makes no sense whatsoever. i am heartened most by the fact that prime minister netanyahu has stated, you know, if this fight picks up again, if the rockets start flying back at israel again, the response will be severe. it needs to be, and is we need to stand with israel in this unequivocally. stuart: yes, absolutely. you might want to tell the left-wing democrats that too. mr. senator, always a pleasure. thanks for being with us today. >> thank you. stuart: former attorney general bill barr, he's speaking out. by the way, this is his first public appearance since he left his post as attorney general. is and what's he doing? he is slamming the public schools. tell us exactly what he's saying, ashley. ashley: yes. he's letting rip. the former attorney general suggesting that the progressive ideology being taught in government-run schools may, in fact, violate the u.s. constitution. and, barr says, perhaps the best defense for parents may be

school choice vouchers to combat what he calls an anti-religious curriculum. take a listen. >> the state of our public schools is becoming an absurdity, and it's scarcely to be believed. while an astonishing number of public schools fail to produce students proficient in basic reading and math, they spare no effort or expense to, in their drive to instill a radical sec is lahr belief system -- secular belief system that would have been unimaginable just a few years ago. ashley: and, by the way, barr also suggesting that the new woke curriculum may be infringing on speech and religious freedoms that are protected by the constitution. and the participants and political leaders -- parents and political leaders should no longer stand idly by as progressives push their agenda in public schools. stu. stuart: we're going to change the subject entirely, ashley,

unwillingly on my part, but there you go. [laughter] what is this about dating app teaming up with the white house? what's going on, ash? ashley: yeah, look, perhaps the biggest incentive is the that fact that getting vaccinated has been shown to help people in the romance department with those vaccinated getting 14% more matches than those who are not. and the white house is pushing this. but failing that, getting the jab means that you actually get a badge on your profile and access to free premium content. for instance, ok cupid will let daters add an i'm vaccinated profile and lets users search by vaccination status. other sites such as plenty of fish will also give members the option to add new vaccinated badges to their profile. all of this with the okay of the white house, trying to get more

people to get their shots. stuart: we understand that one. thank you, ashley. let's get serious. prince william absolutely slamming the bbc for using, quote, deseat to score -- deceit to score an interview with his mother, princess diana. watch this. >> the bbc's failures contributed significantly to her fear, paranoia and isolation that i remember from those final years with her. stuart: all right. prince harry is speaking out as well, and we're going to tell you what he is saying in just a moment. first though, the housing market. it is so hot that that house right there -- i would call that rather unassuming -- well, they've got 48 offers when it went up for sale. we've got that story, and we've got analysis of the real estate market with mitch rochelle right after this. ♪♪ got a good looking woman -- ♪ it feels like home -- i got

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♪ stuart: bitcoin, a break literally in the last few minutes. now you're looking at $38,000 a

coin. literally just a few minutes ago it was 43,000, now it's 38,5. and, by the way, dogecoin falling back to 37 cents per coin. there you have it. so you got a break in the cryptos all of a sudden pitching below -- bitcoin well below $40,000 a coin. got that. now, inflation fears rattling the economy. we've got that. there is a rush to buy homes before interest rates rise. got that. jeff flock in evanston, illinois. you've got to tell me about that unassuming house we showed which had 48 offers. tell me more about that. >> reporter: i've got multiple unassuming houses that are getting offers. breaking news, existing home sales down again, just came out, the numbers. because everybody wants to buy a house, and there's not enough houses out there. this one just sold after one day. this place, this is an unassuming house too. you want to see a house that's got problems, you sold this in

how many days? >> in one day, jeff. [laughter] >> reporter: incredible. this is not your house that's, like, a wonderful house. you remember green shag carpet, stuart? you may have had this in your van back in the day. you don't have to remember because it's right here. have you seen anything like this before? >> not in my 31 years of selling real estate, i haven't been in this volatile of a market. >> reporter: i may have bought a house or two from glenn over the course of time. even real estate agents themselves having trouble getting shut out of offers. christy sullivan, you work with glenn. real estate agent yourself. you're getting married. it's your mom's birthday, right? >> yes, to it is. happy birthday, mom. >> reporter: you got shut out. >> i did. it's a real competitive market, and you want to put in the strongest offer you can without going crazy because maybe some other buyers will go crazy. >> reporter: prices have never been this high.

estimates of prices almost $350,000 for the average house. and, you know with, i would say this is, i don't know, is this a below average house? look at these cabinets. brand new in 1950, right? this is an old house. >> this is an older house. we have some mid-century modern touches here though. >> reporter: you already sold it, you don't need to sold me again. [laughter] lastly, stuart, that house in chicago, take a look at the picture. 48 offers. you put an offer in with one of your buyers. what happened? >> well over full price, and we did not get it, and we were basically 48 offers, and we weren't in the ballpark with over 20,000 over asking price. >> reporter: it sold for about 40,000 over. not a good time to buy a house. christie's getting married, how soon? is. >> next memorial day. >> reporter: take your time. exactly. next memorial day. wait. that's my advice. [laughter]

mr. varney? stuart: okay. i have absolutely no comment on that whatsoever, flock. >> reporter: thank you. stuart: you're a genius. you do tv so well, young man. you really do. great stuff, jeff. see you again soon. all right, we need analysis of this real estate market, and this man is going to give it to us. mitch roschelle back with used today. look, existing home sales down 2.7% in april compared to march, and they were down in march compared to february. three straight months of declines. is it back to the same old story, there's not much for sale and that's why you can't sell many homes? >> 100%, stuart. you can't sell things that no one wants to sell, and that is the vicious cycle that we're in right now. the good news is in the numbers we heard at 10 a.m., there was a slight uptick in inventory. it's 2.4 months supply up from 2.1 months supply. but that's slim pickings, and that's why you're seeing houses with shag carpeting that are going above asking price.

that's allowed bad it is. i think buyers are starting to get discouraged and not even trying, and if that cools down demand, that may break some of the cycle here. stuart: look, if you've got a median price of an existing home sold in april at $341,600, that's the number that we've got, and that's up 19 percent from april of 2020, that's astronomical gain in prices. and i presume it's just forcing a great many people just out of the market. they can't get in. >> that's right. the only thing that has kept them in the market is the huge uptick in the savings rate that we saw year-over-year because people couldn't consume, go to movies, and they were able to stash away money and gave them sort of a wealth effect that allowed them to get uber-aggressive in buying houses. the problem is they're starting to get back out there again, starting to chip into that savings, and now the home that they wanted they clearly can't

afford. so i think that's where we are. and as i do with you every week, i talk to realtors, and that's what realtors are starting to see. even though last month red fin reported that the average house sold for 103% of asking price, we're starting to see some buyers pump the brakes and not get crazy like the guest in jeff's remote -- stuart: but you're not looking for a crash in home prices the way we saw it in 2007-2008. this is the an entirely different situation. you're not looking for a crash. you're looking for just prices and sales to just level off while we take a breather. that's where you're coming from. >> correct. the high school calculus, i want to see the rate of change slow down. i don't see a crash -- we also a had 14 months of supply on the market because people were, you know, just throwing stuff up there because people were buying anything in sight. this is a supply and demand story right now, but ill like to see things moderate9 a little bit so we don't completely

overheat. stuart: got it. what a situation is. who would have thought? i mean, a year ago who would have thought we'd be here where with we are now? i certainly didn't. hey, mitch if, you're all right. thanks for joining us, sir. good luck out there. >> you bet, stu. stuart: back to the markets. the dow is up 3 -- 262, let me get that right. nasdaq up 31. by the way, the s&p has completely recovered all of the losses, almost recovered all the losses of this week. now there's this: during an interview with the secretary of the interior, one staffer stole the show. watch this. [laughter] >> also a woman of color. that was really probably the best -- >> i'm sorry, secretary, i'm going to interrupt you real quick. you have a staffer who fully crawled on the carpet behind you. we know you're behind the desk. [laughter] stuart: you'll see more of that the in just a moment, i promise you. and there's this too, the napa

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♪ stuart: the story on cryptos is this: falling fast. bitcoin literally a new minutes ago was with at $41,000 a copy. now it's at $37,200. that's a fast drop. any reason why, susan? susan: looks like china has reiterated their calls for a crackdown on bitcoin mining and bitcoin trading. and you know china was the reason why we saw that selloff and what was really the catalyst behind that wednesday selloff when bitcoin went down to $30,000. china again saying they're

cracking down on bitcoin mining and bitcoin trading, and that's why we're down about 6% for bitcoin. also ether, as you know, and xrp are down in the session as well. stuart: that'll do it. when china reiterates a crackdown, that did it earlier this week, and it's done it again now. 37,5 is the latest quote we have on bitcoin. that's the story there. that's cryptos. let's move on quickly to the stock market. susan: yep. stuart: that's not showing quite the gains that it was. nasdaq's now down this morning, down about 4 or 5 points. go ahead, susan. susan: do you think that has something to do probably with the drop in bitcoin prices? it's a momentum type market we're in, and once bitcoin and crypto falls, the high technology names that come with it, but i want to show you what's happening with apple because we just got word that tim cook is in the courtroom in san francisco. he managed to evade the cameras. of course, there was a stakeout amongst multiple media outlets

including fox, but he didn't go through the front door. instead, according to reports, he went through the garage. this is the first time we're going to hear from apple ceo tim cook in a courtroom. he's testified twice in congress. apple accused of monopoly power, here's a look at the stakeout. apparently, according to our sources, tim cook is already inside the courtroom. now, he will argue and apple will argue that the commissions, same price that google's xbox charges and nearly 90% of the apps on the app store are free. the fees they charge are for security and consumer experience. we want to check in on tesla, because i think it was backed -- back up, but you've got a tapering. now, elon rusk is in russia, hinting that he might build a production if factory there someday. i think that's what also rallied sentiment. and snap, which is the owner of snapchat, the new ar glasses

that lets you overlay digital information over the real view. snap partnering up with poshmark, disney and bumble. stuart: i think the story of the moment the plunge in bitcoin, very sudden -- i'll call it a plunge. what, 5, 6, 7% in a matter of moments? [laughter] susan: well, in the crypto world, 6 or 7% is like a lunchtime. stuart: i guess not. you're right. now then, we all know this, asia, asian-american/pacific islander heritage month. you're highlighting the career of elaine chao. susan: yeah. the most successful asian-american politician of her generation, arguably in u.s. history, and life in america for elaine chao started off pretty much the same way that other immigrants faced the challenges when they were trying to chase the american dream. >> as the first united states secretary of transportation of chinese ancestry --

susan: elaine chao, former transportation and labor secretary who has worked under four u.s. presidents. >> elaine chao believes deeply in the american dream because is she has lived it. susan: born in taiwan the eldest of six girls, chao's parents managed to survive the horrors of world war ii, then the chinese civil war. >> when i was 8 years to old and came to this country, we didn't speak the language, we couldn't even eat the food. asian-americans do not eat big chunks of meat stuffed between bread. >> reporter: after graduating harvard law school, she went to work in the private sector. >> even when i graduated and is went to work at a bank -- this is, again, a very asian tradition -- i would give a portion of my salary to my parents. susan: public service starting with a fellowship in the reagan white house. chao would go on to the serve as the head of the peace corps under president george h.w.

bush, labor secretary under george w. bush, the only cabinet member to serve out both terms, then as transportation secretary for donald trump. >> i found her, in many ways, easier to work with not only than most of the other cabinet secretaries under president trump, but frankly, easier to work with than most of the cabinet secretaries under president obama. susan: despite breaking through barriers in u.s. politics, elaine chao says there might be one more glass ceiling for asian-americans to shatter. >> i do not think it's outside the realm of possibility that in my lifetime we will see an asian-american president. susan: ms. chao says she was so afraid e that she would never find her way in america, that she'd be out on the streets and not able to support herself, but she said she's learns along the way, staw, that america has a lot of opportunities for people of all colors. and if you lose one, there will be others. stuart: yes, agreed 100%.

i'm an immigrant to this country. i believe you are too, susan. and look at us now. great report, susan. that manies very much, indeed. good stuff. change the subject. liberals in california want to bring their social justice agenda to math class. california guy steve hilton, i can't guess what he's going to say about that. first though, what are the odds that republicans take back control of congress next fall? democrats hope that it's zero. i'm going to ask karl rove who will have a very different opinion on next year 's elections. karl joins us after this. ♪ -- stay with you, will you stay with me? ♪ just one single -- ...vascepa can give you something to celebrate. ♪ vascepa, when added to your statin,... ...is clinically proven to provide 25% lower risk

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♪ stuart: the with two stories in fitness this morning, first off the recovery of the dow jones industrial average on the stock market. yes, it is recovering. 34,300 is the current level. the other side of the coin literally is the really sharp declines in bitcoin and other cryptos that we've seen just in the last few minutes. here's the current quote on bitcoin, $37,900 a coin. down from 41,000 about 15 minutes ago.

now look who's here to talk politics, of course. karl rove joins us. karl, great to see you again. don't be such a stranger. we want to know how the republicans and how you're going to guide the republicans if that's what you're going to do, to winning back the house and winning back the majority in the senate in 2022. how are the republicans going to do it? >> well, history's on their side. in the last 120 years, only twice in a first midterm election of a new president has that president's party picked up seats in the u.s. house of representatives, 1934 and 2002. is so it's hard to do. but there's an interesting poll out, and it's by a democrat. it is stanley greenberg of democracy corpses, he and james carville founded the organization, and they did a swing state poll. eight statements that have big senate races next year, three states that have gubernatorial contests and congressional races, and they also did 13 districts in california, new

jersey, texas and virginia that are going to be swing contests and top-rated contests next year. and here's what they found. they found that on the generic ballot in all of those statements -- and we're not talking deep red states, we're talking states like new hampshire, arizona and georgia -- 45 d, 45 r, 10 undecided. typically, what happens if the republicans can getten within a couple of points on the generic ballot, they win and win big, and this is now 45/45. among independents, catch this, his fan -- hispanics, 51 d, 34 r. this is a critical one, the level of engagement. how, you can test how revved up people are. democrats last fall were 85, today they're 57. that's a 28-point drop. republicans only have a 16-point drop. looks like the momentum is on the part of the republicans, and it's because they're getting

upset about the big-spending, left-wing agenda. of the biden administration. and that's where the election's going to be fought out on. stuart: that's why the left is throwing everything out there right now, because they've only got maybe, probably, only one shot at the apple. that's why they're slapping it all against the wall here, see what sticks. >> absolutely. they've got two years in which they've got, you know, a slim margin in the house. this is the first election in many, many years in which the president comes in and loses seats in the house of representatives and loses a pretty significant number. now, the republicans are likely to take the house next year because history's on their side, the numbers are on their side. the senate is going to depend on the quality of the candidates in some of these very swing states that joe biden carried like arizona, pennsylvania and new hampshire and georgia. these are going to be very tight races, but the republicans have got a good advantage that appears to be forming up in the bases of an election.

stuart: so what do you think will be the republicans' principal thrust to get back in power in 2022? what's the main point of their strategy? >> well, i think there are three things. they've got to find a way to effectively make the argument against the biden administration on issues that people care about in terms that they can relate to. that sounds easy to do, but that's really harder than you might expect. but the republicans, i think, are aware of it. the second thing is, is that they've got to spend almost as much and in some cases more time explaining what they want to do, and that's going to be tougher for them to do. it's easy to criticize biden and this left-wing agenda, but they've got to articulate a positive and optimistic conservative agenda of where they want to take the country. and third, they've got to deal with an electorate that is increasingly diverse, and the way to do that is to have candidates that look different. it's not an accident that for the first time since california became a state in 1850 that the republicans flipped democratic congressional districts there in

the last election, four of them, and they did so with two latino men and two asian-american women. the more diverse our party, the better off we're going to be. stuart: all right. karl rove, good stuff. we missed the white board. great to see it back again. >> excellent. thank you, stuart. stuart: just superb, brilliant. thanks, karl, see you soon. big hour still to come, steve hilton, kayleigh mcenany, plus a warning for all crypto buyers. that will be in my take after this. ♪♪ you can go your own way, go your own way. ♪ [ crowd cheering ] [ engine revving ]

[ race light countdown ] ♪♪ ♪♪ ..

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this is the kind of stock market and crypto market that gives you whiplash if you're reactive rather than proactive. you've got to be patient and have a plan and execute accordingly. ♪♪ stuart: the markets are in the green. the dow is up 298 points. the s&p, the stock market, and

big tech joining, the real story and finance and money, the plunge in bitcoin is back on again. we are at 41,000, now we are at 37,000. apparently china reiterated its crackdown on cryptos. investors don't like that and bitcoin is back to 37-3. now this. it has been quite a week for the cryptos, not necessarily a good week. cryptos are wondering about head wents, that means pushback, warnings, negative headlines. look at the crypto news out today, the treasury stripped of crypto compliance with the irs. they don't want you dodging tax on your crypto gains. maybe you thought, the irs said bitcoin transfers of 10,$000.

don't dodge taxes, and and those digital currency, deutsche bank was her saying cryptos gone from trendy to tacky. the value was based on wishful thinking. there is a growing suspicion the markets being manipulated. look no further than elon musk's manipulative tweets. serious investors don't spend their lives on social networks don't lying to tweets. the ceo the colonial pipeline, it will be tested before congress. it does not go down when the country is held to ransom by crypto criminals. the stock market has largely

recovered from heavy selling. the comeback for stocks is more powerful than it has been for the cryptos which were on their way south again. this is not a prediction for crypto's future observation for regulation and bad pr are serious head wents. third hour of varney about to begin. market watermark avalon is with us. good to see you. do you think we will get regulation of the cryptos and if we do what form will that regulation take? >> it is going to be inevitable and take a lot of the hype and

froth out of the trade. these wide swings, not a safe place for investors to be, it is speculative and i don't know if the governments have the interest of the consumers in mind when they want to regulate it but it will be inevitable. if you are trying to double your money there's plenty of great quality companies out there that in the past year or two allowed you to double your money even through the pandemic. why risk your money on something most people can't explain, don't understand and buying it and telling us it will be a great investment. thus far i have been wrong but going forward i will continue to find quality companies broadly diversified and much lower risk profile and that is a good way over time with discipline you can double your money. stuart: let's turn to the stock market. you think it is going to be quite a summer, up and down all

over the place. is that going to happen? >> it's going to be rocky and it is going to move and be great for you because viewers will tune in. this is not going to be 50 points a day on the dow are down a 12:45%. weeks like this where we were up hundreds of points and down hundreds of points, that is going to be the norm. investors need to sit through their anxiety and look beyond this especially jerome powell and the fed, thinking about thinking about talking about this has led to a pull back earlier in the week. wait till you get real meet in those fed meetings. there will be a lot of jittery investors and the recent money that came in pull out. stuart: got it but after that the bull market still runs later this year he, you think? >> absolutely. too much in store for stocks.

we have the bad news and market rebounded quickly. so much liquidity, liquidity needs a place to go. the market is flush with liquidity with congressional spending. the reopening is will. corporate earnings strong and on a relative basis very strong. we will see these earnings reports creating enthusiasm to participate in this economic rally with the backdrop of low rates and reopening. i don't see how stocks don't benefit and if the fed can slowly and gradually either raise rates or tighten and if inflation is at all tempered that will be great for stock. historically stocks do well in rising rate environments as long as the starting point and pace is modest. same for inflation.

stuart: you are on a roll but i got to hold you back because i'm coming up to a commercial break. mark avalon, thanks for being here, thanks very much. i have time for an update on apple, chief tim cook taking the stand in a big case, this is a big deal. >> the latest detail, tim cook managed to slip into the courthouse this morning, went to the garage which surprised a lot of media at the front door of the courthouse and apparently we have photos from the ap. he made a victory sign heading into the elevator does. what happens here might change the way apps store is run not just apple's their sore but google planned different apps stores around the world. from what we hear in our reporting in oakland is it is not going to be a long day, tim cook on the witness stand, 2 hours at most of tim cook's

testimony, testified in a court room, he testified in dc on capitol hill for the past two times in his career, lots of legal experts say it is more of an uphill climb to prove their case the because the rules are the rules in a private company that owns their own platform and the same commission fees attributed to google planned x box as well. stuart: got you, thanks very much. steve hilton requires -- he has a problem with apple's relationship with china. spell it out. >> not just china. what you have in apple specifically in tim cook describing raising his fingers in a the sign you and i know what that sign means when you

reverse it and give it to someone. that is what i would like to give to tim cook because he never stops defending his business practices, never stops lecturing the rest of us in a holier than thou sanctimonious manner about apple's values and making the world a better place yet in china, a whole litany of crimes against society. new york times entity the reported expose that we have been following for a long time the list goes on, using slave labor from the leaguer concentration camps as part of their supply chain, sucking up to the chinese regime every opportunity, go on about privacy, these debates, they so much care about protecting users privacy, not in china were to suck up to the chinese government they give access to the chinese authoritarian regime using technologies for

surveillance, total hypocrites, completely contrasting what they actually do for business reasons in china and what they say to the reservoir. you say they are a company, do what they want for business reasons, fair enough, stoppable holier than thou sanctimonious lecturing and be honest what you are doing. stuart: glad you got that off your chest and glad you did in on this program, we are watching more of this on the next revolution sunday night at 9:00 eastern fox news. are we headed to what could be the new napa valley of the midwest? that sounds rather grand doesn't it? grady trimble is in august, missouri. the napa valley of the midwest sounds exaggerated but take us through it. >> that is how they are selling it and they've got $100 million

they are investing into this area where david hoffman is the developer with his wife in the back and we are touring one of their vineyards, 7 of them in this area. several wineries. the vision is grand. stuart doesn't buy that you can pull it off but you have a plan. >> i'm going to pull it off. a great opportunity and a unique opportunity. this is an undiscovered gem right here in missouri. grady just told me he was stunned how nice it is. the whole country will discover missouri. >> you have plans for a 5-star restaurant and hotel, the works. you bought buildings in the downtown area, these gator tours you are taking, this is your hometown area. you are helping your hometown

area grow and thrive. >> a lot of fun doing this with my wife and i who dated in high school since we were 15 are back here doing this. people are responding well. our concern is we are afraid we will run out of wine. >> you can always grow more grapes, plenty of land out here, you never know your next trip to wine country, might take you to missouri. >> you never know. i like the look of the gator, that is a john deere product. thanks very much. prince william slamming the bbc's deceitful interview with princess diana. role tape. >> the bbc failures contributed significantly to her fear, paranoia and isolation that i remember from those final years with her.

stuart: prince harry speaking out as well and the whole story coming out. did you see this? nancy pelosi not wearing a mask around her colleagues, ditching masks on the floor of the house, we get into that as well after this. ♪♪ no no no no nowhere ♪♪ no no no no nowhere ♪♪ he's taking trulicity for his type 2 diabetes and now, he's really on his game. once-weekly trulicity lowers your a1c by helping your body release the insulin it's already making. most people reached an a1c under 7%. plus, trulicity can lower your risk of cardiovascular events. it can also help you lose up to 10 pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor

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contribution to making my parents relationship worse and hurt countless others. it brings indescribable sadness to know the bbc failures contributed to her fear, paranoia and isolation that i remember from those final years with her.

stuart: that was prince william speaking out on his mother princess diana and her famous interview with the bbc back in 1995. that made a difference in the royal family. and inquiry found the reporter, martin bashir had deceived diana's brother to land the bombshell interview. i want to bring in a royal watcher, what exactly did martin bashir do? >> what actually martin bashir did was deceived princess diana's brother by having a staff member at the bbc supply bank statements and documents. these documents looked like an international news network transferred funds to the bodyguard of earl spencer. this enabled him or made him

feel he needed to protect his sister and increased the paranoia, prince william was right, she was isolated and suffering paranoia feelings was deceived by her own staff members due to those documents and what is important, this was not just about a road reporter, the leadership of the bbc knew about this because the actual graphic artist reported feeling uncomfortable and having to create these documents and let the leadership of the bbc know and they did nothing about it and covered it up. stuart: that is a horror story for the bbc. let me turn to prince harry, i understand he's about to reveal he turns to drugs and alcohol to deal with his mother's death and he's going to accuse the royal family of offering week

support in his time of need. is this another of these truth bombs that will come out? >> absolutely on the apple series he's doing with oprah and other interviews. i will say talk about bullying and mental health. we all know his grandmother the queen is 95 years old and after spending her life devoted to service and her nation now to have her grandson bullying the royal family is uncouth and an acceptable, throwing your own family under the bus. >> it's not going to go down what with me. thank you for joining us, we appreciate it. the story is not going away. now this. stephen king, best-selling author is defending cancel culture. what is he saying?

ashley: cancel culture could be the title of a new stephen king novel, could it not? the horror icon has no problem with cancel culture and says conservatives should start being held accountable and saying this, you're going to be held accountable for what you say and what you do and that is the american way. there is nothing odd about that and nothing radical about that. stephen king speaking to conservatives. if you do the crime you got to do the time. the outspoken liberal says republicans are guilty of a double standard decrying cancel culture but are okay he says canceling people they don't like representative liz cheney who was recently removed from her leadership position among house republicans. that is the opinion of stephen king.

stuart: it is not mine and i will move on before my head explodes. house speaker pelosi sending a mixed message, take me through the story, masked and unmasked. ashley: don't do as you say, she was spotted near other people at the white house not long after she warned against similar behavior. pelosi suggested people should wear masks because otherwise people are relying on what she says the honor system when someone claims they are vaccinated. also said she has a responsibility to make sure the house is not a petri dish because of the selfishness of others, that requires people to wear a mask, in the the crowd not wearing a mask, that was at a bill signing event with president biden later in the day when pelosi was seen without a mask standing with others who were not wearing masks.

another example of confusing contradictory messages from our proud politicians in washington dc. stuart: you are not done yet. you've got the story, interior secretary deb harland, derailed, take us through that story as well. ashley: in the age of zoom and facetime nothing funnier than when someone is caught in the background during a live interview. the secretary of the interior doug holland caught on camera as the person tried to carefully crawl away on hands and knees on the late night with seth myers. >> i will interrupt you, you have a staff are who crawled on the carpet behind you and it is the greatest thing i have ever seen. we know you are behind the desk.

>> we know you're behind the desk, adding we had giant comedy stars on the show, not one of them has thought to have somebody crawled by in the background. always very amusing. stuart: three stories and you saved the best for last. president biden, taking a turn toward the very serious stuff, president biden says we, american taxpayers will be paying to rebuild gaza, just in my opinion to please the far left. k -- see what kayleigh mcenany's opinion is on that. we told you about colleges requiring students to get vaccinated if they want to come back to campus, some students feel bullied, they are protesting, we will take you to the protest after this.

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nasdaq is heading the south, bitcoin a big selloff an hour ago at 41,$000 a coin. now we've sunk to 37,000, that may have had some impact on the nasdaq and big tech stocks because that is a big selloff. in a matter of minutes down 37-7. that's where we are on bitcoin. vice president harris met with the president of south korea, this meeting was before he meets with president biden next hour. that meeting on your screen open to the press. the meeting close to the press. kayleigh mcenany joins us. you worked in the white house, is it normal for the vice president to meet alone with world leaders before he or she meets with the president? >> during my tenure that was not the norm, donald trump greeted foreign leaders, kamala

harris did that at least once on behalf of president biden where vice president mike pence was a great ally it always did with donald trump when we did bilateral meetings with the afghan delegation for example. he was in a meeting but beside donald trump, donald trump was the leader directing the way forward. compared to my time in the white house this is a nontraditional way to go. stuart: why is that meeting on our screens right now open to the press but the president of south korea goes into a meeting with the president of the united states and there is no press? is the president being protected again? >> the answer to this, jen psaki said when she talked to david axelrod we try to minimize the amount president biden interact with the press. he's holy a press conference later in the day with the south

korean delegation so that is a situation of fewer freewheeling question dynamic, couldn't resist shouting questions at him and he cannot wiggle out of that, harder to do on stage with back and forth. stuart: i want to talk about israel and gaza. we understand president biden is going to lead america's effort to rebuild the gaza strip. that means we are paying for this? why should we be paying for this? >> foreign policy adventurism in afghanistan to rebuild the country, it didn't work when we tried it much later. you raise a great point. building up our ally israel, biden did to the arms sales to israel. that was necessary and needed to but rebuilding a country is not what i think america should

do. i noted in afghanistan he didn't work out for us. stuart: should we be doing this? why are we doing this? it is not a nationbuilding effort is to a fees the far left. >> exactly what it is. you hit the nail on the head. what we are seeing is biden trying to appease the pro-israel faction of the party with weapons sale but at the same time a lipservice to the radical left as you haven't seen him say hamas terrorists stop attacking israel, you hit the nail on the head, political motivation trying to cater to the ilhan omars and aocs, who made anti-semitic statements in their past the catering to that is necessary to stay in the democrat party. stuart: thank you for coming back and speaking with us. see you again soon we hope. then there is this. come on back. maryland will offer lottery prizes for people who get the jab.

how does that work? >> any maryland resident 18 years old who gets vaccinated in the state will be eligible for daily lottery drawing to win 40,$000 under the vax cash program, one 40,$000 winner will be randomly selected every day for 40 consecutive days beginning may 20 fifth and the fourth of july, the conclusion of the promotion, a prize of 400,$000. the incentive here causes the earlier you get into it, the closer you get vaccinated the more opportunities you have to win, one way to get out and get the jab. stuart: maryland is not the only state giving money out in return. what is new york offering? ashley: it is offering a much

bigger prize. governor cuomo says new yorkers who get covid shots next week will receive free scratch off lottery ticket with a chance to win $5 million, freebie scratch offs worth $20 each will be handed out to anyone getting a shot at new york state run vaccination sites. this incentive comes as new york state has seen a slowdown in in occupation rates. $5 million to get people to get a jab, at least a chance to. stuart: isn't that what governor cuomo got for his book? ashley: strangely you are right. stuart: check the market, dow industrials have a gain of 200 points. our next guest is an important guy on wall street telling his clients to stay invested. what does that mean?

we continue to update you about the mass exodus from high tax states on this program. arkansas is paying people to move there, 10,$000 to be precise, we will head their too next. ♪♪ just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right.

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stuart: the ongoing story in the financial markets, the recovery of the stock market. look at bitcoin again. we started at 41,000, 42,000, now you're down to 37,000. that is very sharp decline for bitcoin because the chinese

government has reiterated its crackdown on cryptos. joe durand is with us, head of personal financial management at goldman sachs, you've got all of these ups and downs, crypto stock prices, you are telling people to stay invested. what does that mean? break it down for ordinary folks. >> the s&p has done nothing but taking out a lot of speculation whether it is what you mentioned with crypto currency use or a lot of the tech stocks but did well last year and the market has been stabilizing and taking noise out of the system. that is quite healthy. with valuations which are quite

high, you have a very high likelihood, 80% likelihood of a 10% decline over the course of the next year but we are in the midst of economic expansion and we are up a lot since the bottom, 80% since last march but we've done analysis to look at what happens during an expansion, the average recovery is 200%, the market doubles in value or triples in value from the point where the recovery starts. we are up 80%. that means on average since world war ii you would see the market go up 200%. looking at the last four recoveries we had after recession there's an average of 400% increase in the market. if you have long-term

perspective, we at goldman sachs look at life-changing wealth. don't want to be irrational because there are times we will be overly expensive and the market pulls back but don't want to react back and forth because you have to get back in at some point and that is hard to say when. stuart: i remember the great inflation of the 1970s, it was a disaster. there are some parallels. there are some parallels between the 1970s in the decade we are now just starting. do you think we're in for a nasty bout of inflation? >> the fed has started to signal they will think about pulling back the capital they pumped into the system, talking about talking about doing something that would suggest there i is on us. there's clearly append up demands causing a spike in

inflation, 4.2% read. you will end up with 3% inflation, next year moderates to a half% to 3% but it is a spike because it is not enough workers but in the long-term you will get back to normalized numbers. there are reasons to be nervous, that would have a bad impact but if the economy is expanding we will be okay. stuart: i feel little more relaxed already. now then, i hope you have seen our series called on the move, what about getting paid to move? arkansas is offering 10,$000 to live in the northwestern region of the state. connell mcshane is in arkansas. i hear about this 10,$000 but there's an added bonus.

what is it? >> throw in a free bike, perfect for a guy like you. it sounds a little gimmicky and it kind of is. if you move here and promise to stay here for at least a year but the local business leaders who came up with the whole thing say the idea is get peoples attention. >> it would be rare the person just picks up their life and move for 10,$000. it is a lot of money but then again not a lot of money and so we are trying to select the right people that want to make the move and looking at what we are offering. >> ideally they will bring in entrepreneurs who work from home and don't take local jobs or add to the local economy by spending money here. they should have more suspended. arkansas council has a

cost-of-living calculator on their website, you have to see it to believe it. if you are making 100,$000 a year and live in san francisco if you move here they will say 100 grand feels like 231,000. they made the save move recent, ceo of a company called carrot fertility and she's running the company now from her home in arkansas and this will be a trend. >> in the future people will be able to live where they have the best life and work where they have the best job and those things are going to be very compatible. >> 30,000 people have applied, 100 will be accepted by the end of the year, there are other cities with similar programs in place. the only criticism of this kind of thing is the locals who say the money would be better spent on people who already live in

the area. the council thinks this pays off investment lies in the long term and to go back to you the funding from the walton family foundation of walmart fame which is based here. stuart: i was going to say that is the waltons right there. thank you. coming up protests at some universities, some students don't want to be forced to get a job just to get back on camera. now that states are opening back up live concerts they are coming back, a breakdown of the biggest events coming this summer which will be at full capacity. they still have mosh pits these days? i will ask. ♪♪ traded with a touch. the gold standard, so to speak ;)

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stuart: workers was one of first colleges to say students have to get a jab to go back to class. some students don't like and are fighting back. lydia who is at rutgers, i want to know what students are saying and what are they doing. >> students are saying mostly

they are not against the vaccine but against the vaccine mandate. this is hosted by a libertarian group americans for liberty and turning point usa. there are several hundred gathered today. it includes students and family members as well as people from the new jersey community who say they are against a mandate of the covid vaccine and an organizer tells me shea may get the vaccine herself but she wants the freedom to choose that. >> reporter: not allowing students to make personal decisions for themselves i'm anti-mandate and believe i have the right and need time to make the correct decision. we should not be discriminating students against whether they want to take the vaccination. we should be recommending it not mandating it. >> reporter: rutgers was one of the first schools to mandate vaccines to come back to campus in the fall and since they made

that decision 380 other schools followed suit making similar policies for their own institutions for rutgers university administration, policy is consistent with the legal authority. the law is on their side and, quote, committed to creating a -- they change schools if the mandate is followed through in the fall. >> thanks very much, some concerts, live shows, mike guns on his back with us this morning. do they have to wear a mask? what is the capacity limitations, close to other people. will the mosh pit come back.

>> we could start our own mosh pit, it was the stream but that happens. as far as what fans can expect, it depends on the particular venue, some facemask guidelines and if you are vaccinated and can prove you are vaccinated you won't have to wear the facemask. every venue, or negative covid test ahead of time. i can tell you this. in sioux falls, thousands of people, las vegas will have first major concert in over 14 months. 10,000 people heading to the las vegas event center, so popular the organizer said for the next 13 to 14 weekends with

live music, garth brooks announced a stadium tour, 67, and if that wasn't enough. it has been going on for years. and in all these artists, 300,000, 400,000 people in attendance starting in july they just announced it. get those dancing shoes out. let's go. >> you made your point but thanks for joining us. bottom line the concert is back. got to show you bitcoin, back

to 36,$900 a coin. the friday trivia question, what is the most common letter in the english alphabet? the answer when we come back. . but thinking about the future, is human nature. ♪♪ at edward jones, our 19,000 financial advisors listen and work with you to create personalized investment strategies to help you get back to drafting dreams and building your future. edward jones. it is time for investing to feel individual. i order my groceries online now. shingles doesn't care. i keep my social distance. shingles doesn't care. i stay within my family bubble. shingles doesn't care. because if you've had chicken pox, you're already carrying the virus that causes shingles. in fact, about 1 in 3 people will develop shingles, and the risk only increases as you age. so what can protect you against shingles?

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stuart: asked you what is the most common letter in the english language are. i'm sorry, ashley, what would you with say the most common letter in the english alphabet? ashley: i went through all the vowels, it had to be the e. it had to be. stuart: yes. yes, okay, let's reveal -- yes, it is. it appears in over 11% of all

words. the second most common letter is a which appears in 8.5% of all words, you see. there you go, ash. been quite a week, hasn't it? you got the answer right. ashley: it certainly has. stuart: before we leave you, i've got to check bitcoin, 36,5. how about that? that's quite a plunge just in the last hour and a half. time's up for me, but jackie deangelis is in for neil cavuto. jackie: good afternoon, stuart. welcome to "coast to coast," i'm jackie deangelis in for neil can cavuto. the u.s. markets aim to close out the week in the green, but some top market watchers predict that the bull market is on its last legs, and we may be facing a bear of a bear market. we're going to tell you why. plus, imagine flying across the atlantic in just four hours for $100. i'm going to ask the company's ceo when