maria: that will do it for us. have a great day. "varney & co." begins right now. take it away, stu. i know you will be talking about bidens smaller infrastructure package, but i want to point out the op ed said it had the money from the heart if a structure stuart. stuart: i'm glad to hear that. i won't start with that, but good morning to you anyway. good morning, maria, and good morning anyone to get this program does politics and money, but that's not where we start today, oh, no.

a look at this, please. first of all, an older guy, he won the pga championship and that's a wonderful thing for some of us. phil mickelson is 50 years 11 months old, the oldest major winner ever. look at this, this is the real point here, massive crowds, no masks , no social distancing, cheers, if that is not back to normal what is? sunday celebration of busting out, i have no idea how dr. fauci or president biden reacted to scenes like this, but surely most of the country was cheering on mickelson and cheering on our freedom to live our lives as we see fit. i have that off my chest now let's get the money. the dow jones closed at 34200 friday and it will open about 150 points higher today. smp is on the upside and the nasdaq up over 111. i should tell you the nasdaq is being held by the lower yield on the

10 year treasury right now with 1.60%. overall for stocks, not a huge rally but it's nice to see some green first thing on a monday morning. the other money story is the crypto's, a plunge over the weekend. big going to a low 30,000 dollars range. some of the lesser knowing coins off 70, maybe 80% and china has gone after crypto miners and that hurt initially, but as you seen bitcoin has bounced back to 38400 as of now and ethereum is a bounce as well to $2440, not much change for dogecoin, it's a 34 cents a coin. later today a guest who says elon musk has been advising the noise: boy -- advising the dogecoin folks for years. politics, senator schumer so far silent on the anti-semitism visible in new york and other cities this

weekend. anti- israel demonstrators waving palestinian flags beat and spat on juice. to another new york democrat aoc has vigorously opposed israel. that's a democrat party split. next question, will senator schumer okay the shipment of american weapons to replenish israel's iron dome defense? good question. look at this, a fox drone follows young men running straight across the border. homeland security chief keeps saying the border is secure. the border is closed. with that video, no, it's not, it's open. monday, may 24, 2021 and a "varney & co." is about to begin. ♪♪

stuart: not often we start a financial program with crypto, with the weekend a wild swing again, but that's what we are going to do. susan is with us and for the benefit of those that watch the thick-- phil mickelson win, take us through the crypto christ. susan: i was watching him when. final two rounds peered did you know 50 is the new 4770 is the new 60. stuart: you made my day. susan: doesn't this make you feel young as well with crypto currency. we saw a selloff yesterday. china has a crackdown when it comes to crypto trading and mining taking down bitcoin to 32000 sunday morning, china started to have a crackdown on trading in 2017 but now they are concerned over the environmental and electricity use so they are trying to cut down

on crypto mining and the other counter crypto trading that takes place below the radar, you know over-the-counter. they are trying to crack down on that as well and it wasn't just bitcoin, ether, 1700 selloff and dogecoin barely 26 coins per mark cuban says he think it is the great unwind as traders burrow to buy ether and they use it to buy others. margin upon margin which as you know when it falls apart it falls apart quickly and also another influential crypto trader says lots of crypto traders just became long-term investors and this is healthy. i would agree. people that can afford to hold for the long-term wealth stay in in it. stuart: definitely on unwinding, i would definitely say that over the last week in particular.

when prices fall as deep as they had the past week is when things start cascading as you said. right now, on your screen bitcoin 38300. who was with us this morning? i believe we have david nicholas with us our market guest at the moment and he will cover crypto's spirit will come back to the show, david. we have to talk crypto's from the start. is this it so to speak for the crypto's, the great unwinding? is that what you believe is happening now? >> stuart, no question there's a lot of volatility in the price of bitcoin. there is a lot of support around the 30, 33000 level. we sought over the weekend down to 30,000 and bounced off so i think i feel good about those levels. if it breaks 30,000 we could see it in the 22, 23000 range, but i don't see it going much below that. every time we see selloffs we have a large amount of buying.

i tell my clients all the time, i don't mind taking risks, but if we take risks we better get compensated for it and i have yet to find a better risk-adjusted asset class then bitcoin. really if bitcoin can rally back to 60ki think it will give a lot of hope that bitcoin is here to stay and those that are willing to stomach the volatility will get over it. stuart: that's a big hit, if bitcoin can get back to 60k, that's a big if, isn't it? >> it is, but those that bow on the dip, i know it takes a big stomach to do this, but every time investors by the dip they get rewarded to. stuart: yeah, until they don't. do you extend it beyond bitcoin and ethereum, i mean, what about dogecoin, what's with dogecoin? >> it's interesting. i thought about buying

dogecoin, but i think there is still infrastructure issues when investors try to buy. there is not a utility with a coin like dogecoin like with you get with bitcoin or ethereum. i know elon musk loves it, but i'm not so sure if he has other ties to the coins, but i'm cautious. stuart: you are in it, you got it and you have to live with it. thank you for joining us. i can't get away from this. i'm sorry, but take another look at that massive crowds that gathered at the pga championship. look at it, just look at that. that was a celebration if ever i saw one celebrating phil mickelson's major win. watch this for a second. >> here it is, biggest moment of the legendary career. defeats father time. stuart: see that crowd. do you see that crowd? dr. marc siegel sees the crowd.

i was watching it and you are probably watching it and i'm inclined to say having watch that that the pandemic is over. am i going too far? >> i think we are there. we are at the point where we had less than 30-- 13000 new cases yesterday any u.s. and south carolina where that took place less than 300 cases and i saw brooks who lost number two second-place, 31 years old, by the way. 31 years old and he was complaining about that massive crowd. you know what he was complaining about, not that there was a big crowd or that they had no masks, but his surgically repaired knee was in jeopardy. that's how we know we are returning to normal when a guy is complaining about his knee instead of masks. stuart: do you think 70 is the new 50 and 50 is the new 35 and the new 35 is the new 21? do you really think like that, doctor? >> i do i think someone who is in great shape

like you, clearly susie is right, you are the new 50, no question about it. stuart: before we get carried away on a tangent, look i think we have good news this morning. we had this study that says pfizer and astrazeneca vaccine protect against the new variants, which is wreaking havoc in india. that's flat out great news, doctor. >> and that's another way to make sure we are out of this pandemic is of the remainder of americans to be vaccinated. we have over 60% of adults, way over has at least one shot but this message is take the two shots because two shots of the pfizer or moderna protect you over 90% against 1617.2 variant out of india. india still has a lot of cases, we don't and this is the way to keep it that way and by the way, other breaking news, if you have had covid and have natural immunity,

one shot advisor is probably good enough, but i would get that one shot. one-shot plus covid is your ticket out also. stuart: love to hear it. doctor, thank you for being with us. we really appreciate it. >> great for mickelson. stuart: exactly, 50 years, 11 months seven days. susan: basically 51. stuart: well said. looking at futures, and i think you'll like what you see this monday morning with plenty of bring up 150 on the dow jones, 100 for the nasdaq. the biden administration insists the border is closed, but look at this, it's exclusive video and you'll only see it on fox, roughly 40 migrants sprinting across the border. is it like this all the time these days? we have a report from the border for you. we have a lot going on in the country. rising inflation, massive government spending, businesses can't find people willing to work in president biden ignores it all, praising his

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stuart: i like upbeat positive mood when you are looking at the dow jones that will get 150 points at the opening bell, you are looking at st. louis where it's already 75 degrees. it's going to get hot. at futures overall the

dow jones up 150, nasdaq 112. big tech premarket, how are we and what are we doing. upside, all across the board, apple, amazon, is become alphabet up in the early going. bill gates has been spotted in public for the first time since announcing his divorce. susan, you are the reporter-- well, you are the bill gates anchor. susan: oh, yes. stuart: what was he doing, who was ian who was he meeting? susan: you know when the private jets landed over the weekend, isn't that how you got back wheel and no, i'm a commercial kind of guy. susan: the rest of the average folks. stuart: commercial guy. get on with it. susan: bill gates flying by private jet in new jersey and then at the greenwich hotel in the west village and gates traveling with his kids. he was releasing all around town and also on

new york streets and making the publish speech at the chamber of commerce last week so he's not really laying low despite the controversy and revelations by several reports last weekend that he pursued or had affairs with women who worked at microsoft and that gates foundation while married to melinda and also recently-- staying at his retreat when the divorce was announced. dates not hiding. does that surprise you? stuart: no. susan: it surprises me. stuart: i don't see how you can go absolutely quiet when there is a divorce were evolving and leaked reports and dividing a fortune 140 billion, hard to. susan: when your private life is under the microscope and tabloids are trying to uncover everything it would make me uncomfortable. stuart: nice to see him with his kids in new york city. president biden thinks the economy is in a good place. here's what he tweeted

quote since we took office we have gone from an economy in crisis to one that is projected to grow faster than it has a nearly 40 years. interesting. stephen moore is with us you are laughing just like me. what you make of the president's claim, what is the true state of the economy right now? >> well stuart, i love your show this morning. i feel like i'm 40 years old. i'm 60 and after watching phil yesterday, i mean, i want to go play golf so i'm in a good mood. the economy is ready to explode and i have said this week after week on your show, it's a rocket ship and ready to take off. what we need from joe biden is to stand down and just don't do anything. don't ruin this beautiful picture of recovery. you had mark siegel talking about how we have the vaccine to the people who needed and that's the stimulus so we-- all we need from him is less government pure get out of the way of a recovery.

stuart: he won't just get out of the way. >> i know. stuart: what happens if-- just say for argument, what happens if he gets half the tax increases he wants, half the spending increases he wants, half the green new deal he wants, that would still screw up the economy, wouldn't it? >> it sure would, but people keep asking why is america so good and why are we starting to see investors really putting more money into companies and why is the american economy doing so well and i think the answer is what i call peak biden which is biden has peak politically and there's a bet on wall street and i think it's a pretty good safe bet, i wouldn't bet my life on it, but that biden won't succeed in his two more additional $2 trillion spending bill that the tax increase that he wants you know mitch mcconnell said last week he said i got 50 firm

about in the senate against any tax increase and that's great news. i think america has reacted positively so republicans have to play defense to stop this agenda. i think that is where wall street is and i think that's why have bullish numbers. will there be a tax increase? i kind of doubt it, they might get a slight increase in the capital gains tax that may be a slight increase in income tax rates, but i just don't see the $2 trillion tax hike he wants and that would be a good thing because look, we are so far ahead of europe right now, i mean, europe is in the double dip recession. americas almost 100% back from where we were pre-pandemic and i'm going to give my guy donald trump a lot of track-- credit because i think the vaccine and keeping the economy open was the key point. the red states that kept their economies open are doing really well right now, stuart. the problem areas are states like new york, new jersey, connecticut,

illinois as it has still not fully reopen the. stuart: just take a trip down i-95 and go to florida to see what it's like, boom, boom, boom, a wonderful place to be. stephen, i'm glad you liked the show and that you feel 40. i wish i was. see you real soon. >> we need to play golf sometime soon. stuart: play what? >> play golf. stuart: no, i caddy. i don't play. now, we have been talking a lot about inflation and the truth is that grocery store shoppers are seeing inflation. susan, you have this report. groceries are going up? susan: meat eaters, medium particular, protein, red meat, two thirds of shoppers say they pay more now than before the pandemic for their stakes. 59% say they pay more for chicken and fruit has gone up according to the majority of respondents. one of three adults in the bloomberg survey say

they are spending more groceries than they were at the start of 2021. stuart: on your screen is what consumers say they are paying. that's not a natural statistic from the government's numbers? susan: no, i think there are actual inflation numbers. you saw that with april inflation, fastest in 12 years so consumers are feeling it in their pocket and the reason-- you know what, high transports, commodity prices, challenges getting labor and that culminates into rising prices. stuart: if they feel it, they are responding to it and we have inflation. susan: you got it. stuart: looking at futures again, holding steady with solid gains for the dow jones, s&p and the nasdaq. you got to look at bitcoin, 37800. at the opening bell is next. ♪♪

it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds

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off its weekend lows, 37 800. it had been 32000 over the weekend. a keith fitz-gerald is with us this morning. are crypto's really winding down and if so, one impact on the stock market and is a good or bad for stocks when crypto's unwind? can you have a go at all three of those questions? >> number one, i don't think crypto is unwinding. i think it's par for the course. none of the normal analytics apply. how does it impact the stock market? companies like tesla that holds lots amount of bitcoin will get pressured because wall street has figured out a way to arbitrage that too so there is volatility there and finally moving forward i think that bitcoin has got a bright future and we will see some more upside, but the question is when. stuart: i have the yield on the 10 year treasury this morning around 160, 161.

it's at 161 right now and yet we talk a lot about inflation, grocery store inflation, oil, energy price inflation, but what's going on here? i mean, the market suggests we don't have inflation but the number say we do. >> this is the real dilemma because this is where the statistic bifurcate spared the government statistics don't reflect the modern economy as they are based on data and manufacturing of 100 something years ago so they won't reflect the medicine, education and all the things you and i buy as normal consumers. all the fed has to do is tap outside its ivory office to see how the rest of us live to see they are wrong on inflation, but the real key is how leveraged traders are, if the yield goes up shortly that's when you get big sales because they have to unleveraged so they don't have to carry all that debt. stuart: have you put out any kind of big cell signal to any of the people who follow you? >> no, i have not. we have put out exactly the opposite, bilo, sell

hi, it's how the game is played and we are still in early needs and if anyone fails to grab onto this rally risks. stuart: thank you. we will see you again soon. we are all kind of happiness morning because the market is going to go up when opening bell is done playing and mickelson won at the age of 50 years, 11 months and seven days. we are off and running, we have opened wall street and we have gone up right from the start, will 26, 27 in the dow jones 30 in the green, broad-based rally with the dow jones at 103rd -- 131%. smp, about half a percentage point, a broad rally for the s&p and nasdaq composite with the yield on the 10 year treasury all the way down to 161. look what you have got, rally for the nasdaq, tech stocks in

particular apt two thirds of 1%. susan, come back. you told us about the crypto's. tell us about coinbase. susan: the largest crypto exchange in the u.s. so u.s. traders can access. goldman sachs calling it a by. that's up roughly by 36% from here. goldman says coinbase will benefit from the crypto volatility meaning whether it's up or down as long as there is more trading on coinbase which makes 90% of their sales through transactions fees. stuart: i assume when crypto's came down over the weekend coinbase would come down, but not so. susan: that's not how it works. stuart: they make prices on trades. susan: that's right and if you try coinbase they are pretty high transaction fees. stuart: any day. have to get serious, big tech with the years on the tenure treasury down to 161 and big tech is going up.

susan: once you have crypto currency coming off, high-growth, high-tech and momentum so recovery in crypto, recovery and looking at gains in big tech. big price declines, think of clean energy, robotics, 3d printing, very hot sectors the past year. cathie wood is a great example of this picture is down 34% from her historic highs. how much money do you think laughter-the? stuart: how much? susan: very little. is that surprising? a lot of the high-tech high-growth funds betting on the future of technology pick she's only last a billion dollars despite being down over 30% in the last few months. she bought another 1 million shares and coinbase. stuart: i'm glad you expanded the coverage there. when i say big tech i think of amazon and that's all i think of

but you are correct, technology as it applies to the future in futuristic industries, in futuristic areas that's something to concentrate on. susan: whatever they said this morning they want more of it. stuart: this is the mickelson monday morning to virgin galactic, i bet that is way up. yes, it is, 15% gain. they had-- again, this issue, they had a successful spacelike tests to. what happened? susan: up over 24% this morning in the premarket so first successful manned test fight in two years and it looks like virgin clastic reach space 50 minutes after takeoff coming back down to earth. again, it's a long delay stuart: that is a space tourist vehicle so to speak? susan: right, you are going to the moon just yet, just the

outer reaches of space and getting into zero gradually. stuart: and they aren't launching satellites, they are taking tourists. susan: corrected $250,000 a pop. stuart: i love to see private space companies doing well. i can see virgin as a separate entity, not like elon musk or jeff bezos. susan: you are correct, that's exactly right. stuart: are we done? we are done. we love to see this go up. looking at the dow jones winners, you want to see someone happy, microsoft is the biggest winner amongst the dow 30 and, yes, i have a thin sliver of that stock. s&p 500, big winners, topped out by-- can't even read it. susan: the chip maker. stuart: nasdaq composite, who is the best winner there?

research doing well. susan: all the chip makers intimate-- or that chip suppliers are rocketing up. stuart: there's a chip shortage, so why not. susan: and i also nvidia stocks sparked momentum friday. stuart: momentum, big deal. let's talk about beyond meet. can we call them the fake meat people? bernstein on investment firm gave them a double upgrade and raise the target price to $130 per share. it beyond meet up 7%. other movers, footlocker, why should i care, what's going on-- unchanged, i thought it was a big mover. susan: it was in the premarket, getting an upgrade today to hold with the price target $60. eight price target hikes this morning ranging from $60 to 70. stuart: we will check out that price at some point. susan: hewlett-packard has that movement upgraded by citigroup

to a buy, worth $40 and it says they will benefit from the recovery and personal computer sales. stuart: that's old tech. susan: yes, but old is new again in remote work and learning and you are calling someone older. stuart: seventy is the new 50. susan: downgraded by moffat nathan, a highly respected media research outlet, mutual is what they're calling it $37 and discovery took a swing with at&t merger last monday but shareholders will have to wait a while to see if the result is really a homerun in my limit in the meantime. stuart: let's look at different indicators. 10 year treasury right there at 1.61% and that is the yield compared recently that's a low yield and that's probably helping big tech. price of gold close to $1900 announce. bitcoin de 7000 is the

quote and the price of oil, still in the mid to 60-dollar per barrel range and the price of gasoline holding steady about for the past week actually $3.4 is the national average. susan: you are upfront a dollar from last year. stuart: up about a dollar 10 from this day last year. may 24 last year was a dollar 10 cheaper. susan: for every penny increase that's a big deal. stuart: put on the screen, please, largest shareholder-- one of the largest shareholders unloaded a ton of stock in the stock goes up. who unloaded and wise it up? susan: you have to remember amc is back in vogue on the wall street vets read a crowd and amc was owned by the chinese conglomerate who is now offloading half a billion dollars worth of their remaining stake, but they are small amounts in terms of ownership and i mentioned the reddit crowd

has been bidding up amc again. there has been some tit-for-tat social media battles between the analyst for amc and also the wall street vets crowd who are getting a bit aggressive when people say i don't believe in the amc long-term growth story. stuart: all hell breaks loose. [laughter] thank you. let's get serious, real serious. we have seen brutal anti- somatic attacks in new york city and democrat lawmakers have been silent about it. this is what chuck schumer has been up to instead. watch this. ♪♪ stuart: "my take" on the split within the democrats coming up shortly. another rules for the but not for me, this time it's for the governor of mentioned-- michigan as she was caught breaking her own indoor dining room walls and yes, we have the story.

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stuart: we have been open for almost 13 minutes and we are up with a gain of 140 dow jones, 28 s&p and 140 for the nasdaq ticket bitcoin up a $38000 per coin. of recovering quite nicely permits weekend slump. we now colonial pipeline paid to 75 bitcoin, about $5 million worth to the dark side to pay off a ransom and now there's a new report on how much money in a ransom darkside got from other companies in the past nine months. susan: a lot. 75 bitcoin was from colonial pipeline and in total they have received

57 payments from 21 different or wallets since march 4 that this year. that is a lot, so $90 million in total and apparently they shut down the digital wallet, but they already move the funds to a small group of exchanges and once that happens you can't trace it after that it just goes to different pockets for different uses, but $90 million and nine months from an estimated three separate victims. stuart: our authorities, fbi, nsa, cia, no, we can't find out. susan: makes you wonder because bitcoin does seem traceable especially with digital wallets, but also they are making a killing with ransom ware. stuart: and they are getting away with it. susan: what you expect them to do not pay the ransom? how did they open the pipeline. stuart: the authorities should be doing something. will we be held to ransom by crypto criminals? crypto's, bringing in

douglas, the cio of my amex limited, a crypto trading platform care there's a lot of negatives here, the chinese are going after the crypto miners getting bad publicity from these ransom payers , you know it looks like crypto's are beginning to unwind. what you say about that? >> just because someone is doing ransom in crypto doesn't mean they are a crypto villain. i think when people do ransom in dollars we don't call them dollar villain so i think we should per acre-- break that apart-- stuart: you cannot have these groups using ransom demands, payoff and bitcoin and we do nothing about it. you can't have that, douglas. i don't care if i'm making an example of bitcoin criminals or dollar crypto's-- criminals, i don't care you can't have a situation where we do nothing. >> you are correct and i believe people are doing something.

analysis can find the victims and also then trace the wallet and when the bitcoin come out of those wallets, they will know at that time also and i think that is how they should try to find these villains in the first place, but bitcoin has been getting a lot of what we call flutter, fear, uncertainty and doubt over the last week and you have to ask who is sending this information and over the last couple of months something changed in the market and i think you should learn about this or hear about it, in the past bitcoin was traded by a lot of retail investors using leverage and leverage can be significant offshore you can you leverage in 50 times to a hundred times and now in the u.s. we have institutions coming out trading gamma and once these guys can do is put huge orders onto exchanges that make these retail guys very afraid, get out of their positions and obviously you create a tumbling affect and then institutions come back and start to buy in the low and sell in the high because of the

volatility so the big boys as they have come into the space can push around the little guy which is the retail guy using truly large forms of leverage offshore. stuart: you basically run a trading platform of crypto. that's what you do. is that exactly what you have been seeing, the little guy forced out and that they guy coming into buy buy cheap? >> well, certainly there's a lot of whales seen buying on the low in the market in general and the big guys are the ones that are buying in the little guys are the ones excelling in this panic that happened over the weekend and i think that is-- that really tells you what's happening here is that it's the little guy getting squeezed out but the big guy continues to build large positions. stuart: your stock action has increased in intensity since we last saw you but that's a wonderful thing. douglas, come again soon. >> thank you.

stuart: switching gears, coming to the final days of the court battle between apple and the makers of fortnite, epic games. any idea which way this thing is going? susan: i think the stock price tells you where things are going and lawyers i spoke to say the decision will likely go for apple, but the judge in this case-- it's a judges decision, not a jury and she did not go easy on tim cook friday asking why companies can't have in app payment programs and why they charge commission when they don't make the service, but the law states apple is a private company, it's their platform and they charge what google and microsoft charge which is 15 to 30% commission for some apps on private platforms that they built themselves and also the tim cook prop-- cross-examination, there were heated moments with epic lawyers including the back-and-forth on china, but i should point out epic own-- is owned by one of the largest technology companies

and they are was back-and-forth when it came to google. google pays apple to be the default search engine on iphones and i thought that was interesting. no smoking gun, nothing we have heard before. the judge will probably take at least a week to make a decision after today and it will probably take a lot longer than that. stuart: fair enough, stock prices up 1% and even if it goes against apple, appeals for ever and ever. susan: forever and ever. stuart: phil mickelson makes history as the oldest golfer to win a pga major. look at it one more time, please. roll it. >> here it is, biggest moment of a legendary career. beats father time. stuart: look at that crowd, no social distancing, no masks. to me, looking at that it seemed like the pandemic is just about over. see what you think. look at this, video you will only see on fox

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stuart: sergeant peppers lonely hearts. was my microphone open? did you hear that, ladies and gentlemen? certainly a thrill ect. ect. ect. you are looking at nashville, by the way where it's at 72 degrees and sunny. i have to get back to the pga and mickelson. over the last hour i have been droning on about how great it was to see an old guy when. susan: he's not that old. i guess he's the oldest to ever win a major so "my take" away watching the final round is that he plays fantastic. it was hole after hole he pulled himself out of trouble and just fantastic shots peered

especially saturday and the 17th of. stuart: did you watch? susan: of course i did. stuart: if you are watching and you saw those huge crowds all around him, so close, cheering and shouting, what did you think? susan: i thought we were back to normal speed when there you go. susan: and south carolina is so beautiful, that gorgeous retreat what did you think about the gulf game itself and mickelson? he turns 51 next month so we have tom brady at 42 winning the super bowl, 70-year old in the white house. stuart: he's a 78. susan: i didn't want to be that specific, but they be serena will win her grand slam at 40. stuart: sanders is 80. susan: seventy is the new 60. stuart: i knew you would get back to that. susan: you are so confident, you are not even wearing makeup and you look fantastic.

stuart: i have a suntan so i could escape the evils of makeup , but it was great to see a guy of his age win convincingly because that is an inspiration to all those people who are getting old, may be facing retirement and feeling may be feeling their ages. susan: and beating young guys. a pga champion winner whose only 32 years old. stuart: it was a wonderful thing to watch. i was glued, i mean, they covered it from 1:00 p.m. until 7:00 p.m. and i stayed up late watching. i thought it was fantastic. you will hear more of this, believe me more on the mickelson and back to normal crowd a bit later in the shelter now, we have seen shameful anti-semitic attacks over the weekend that's new york, many democrat lawmakers staying silent, unbelievable and we have "my take" on that and still ahead, miranda devine, mike huckabee and ptech sets-- pete

had seth . . . .

♪. stuart: the contours? no, no. that was another group sang that in the '60s. i can't remember who. susan: it was the contours. you ever watch "dirty dancing. stuart: that was in the '70s or '80s, wasn't it? susan: and? stuart: takeoff from a song in the '60s. 10:00 eastern. i'm excited by mickelson's win,

ignore that for the moment. should be excited about the rally. that is what we got. up 160 points for the nasdaq, up 160 points for the dow industrials. half a percentage point. that's stocks. have a look at big tech. they're doing well this morning. nice comeback there the yield on the 10-year treasury is down to 1.61. that is encouraging for big tech. all of them are in the green. look at that, microsoft almost back to 250. but you got to take a look at bitcoin. that is the way you do in financial news these days. you have to cover stocks and cover the cryptos. bitcoin kicking off the week with something of a comeback. 37,700 is the quote right now. 32,000 was the lowe over the weekend. all right, jason katz is with us. all right, jason, the air is coming out of spacs, a little of it at least, nfts, cryptos. is that good for stocks?

>> well look you're like the phil mickelson of financial journalism. you and i have been around long enough to know that trees don't grow to the skype and it was just a matter of time that the speculative froth came to pass here, we saw the bloom come off the rose. so the parabolic rise in everything you just mentioned not to mention all the aspirational growth stocks is a good thing. it's a good thing. pause the narrative will shift back to fundamentals and the fundamentals have been quite healthy. gdp will be up 7% this year, six next. earnings have been through the roof. we'll look at 32% earnings growth this year and almost 12, 13% next year. as painful for those that have been invested in crypto in the particular in the last week i think it is good for the over all health of the market. stuart: most people see some kind of a correction coming at some point. they don't know when. but are you telling i in of your clients to position themselves

for an imminent break in the market? >> i'm not. look i think that the, the collective wisdom of the market is not nearly as concerned about inflation as a lot of us who are discussing it every single day and the thing that would get me really concerned if financial conditions should change. and the fed in no way, shape or form going to tinker with not only short-term rates or taper in the near term. until the financial conditions start to change i'm not making any, huge tactical move. stuart: you're holding everybody's hand and you're doing a great job of it and we've had this volatility for sometime and you've been consistent all the way through. now is not the time to sell everything. jason katz, thank you very much for being with us. we always appreciate it. >> very good, thank you. stuart: all right, everyone, now this.

shameful attacks on jews in american cities over the weekend. beaten on the streets of new york, chased down by a truck flying palestinian flags. diners assumed to be jews spat on. chuck schumer, new york senior senator, and the leader of the united states senate has said nothing. he did sing new york, new york, with a street band on sunday but nothing on the anti-semitism which has spread fear through jewish communities all across the country. why the silence? my opinion? he is scared of a primary challenge from another new york democrat, alexandria ocasio-cortez. he might lose. it is aoc, along with her far left colleagues, who are encouraging the criminalization of israel. and it is only a short step from there to anti-semitic behavior. people of color within the democrat party are going after supporters of israel within the democrat party.

add up the votes. given the state of identity politics, certainly in new york, it is entirely possible that senator schumer would lose a fight with aoc. truth is the democrats are horribly split and soon the split will become even more obvious. israel needs to replenish its iron ore, iron dome defense against hamas rockets t saved them from catastrophic damage next week. now there is the threat of even more rockets coming over from hezbollah. americas has the weapons israel needs. anti-israel democrats want to delay their delivery. where does schumer stand? the chickens are coming home to roost especially in new york. defund the police along comes a crime wave. israel defends itself and jews are beaten in the streets. democrat teachers union fails to open the schools and then gets behind divisive critical race theory. new york was a great city but senator schumer around

representative alexandria ocasio-cortez are doing nothing to make great again. "new york post" columnist miranda devine joins me now. what do you say, miranda, i think it is disgraceful, how but? >> i totally agree stuart, and you are so right about the chickens coming home to roost. if you basically pit people against each other on the basis of race, you defund the police, you're going to have division, you're going to have crime soaring, you're going to see what we're seeing now which is jews being hunted down and beaten on the street. chuck schumer, you're completely right, he is just weak. he is bulllied by nancy pelosi. now he is being bullied by aoc. the democrats are basically just betraying jewish voters. they have allowed into their

party these virulent anti-semites, these marxists, who of course are now cozying up to the jihadis. you see blm is siding with hamas. and it's, just going to be more and more awful. it is not the democrat party that it used to be. let's hope it's a red pill for democrat voters. stuart: how do you see this going? the congress at some point in the very near future has to decide whether or not to supply israel with the weapons it needs to replenish its iron dome. president biden seems to be stuck in the middle here holding a conversation with rashida tlaib on the tarmac in detroit, then praising her. it is all over the place. how do you see this washing out in the next few weeks? >> well you know the fact that the democrat party, that the biden administration is conflicted over whether or not

to sell weapons to israel to allow it to defend itself tells you everything, at the same time, they're in vienna holding talks with iran whose proxies are attacking israel. they want to restart the disasterous iran nuclear deal. then already iran is boasting that america is lifting sanctions. you had anthony blinken on television over the weekend, yes, we are going to do that but first of all iran has to come to the table. what are they doing? it is, you know, under trump we talked about peace through strength. this is more like weakness through incompetence and the democrat way is basically at home crime, chaos, disorder, that is also translated to the rest of the world. it's a very scary time and i'm not sure if the people who voted for the democrat party will have their eyes opened for the

midterms. you would only hope so. stuart: got it. miranda devine, thank you very much for joining us this morning. >> thank you. stuart: it's a very sad situation. i've been happy all morning about some of the things going on outside of the world of finance but when you look hard what is going on in new york city, this anti-semitism it is just awful. miranda, thanks for being with us today. we appreciate it. >> thanks, stu. stuart: back to the markets. you like this. plenty of green. dow is up 170. has days is up 150. now let's look at some of the movers. i notice the chip-makers, susan, on the on up side across the board. susan: they are flying thanks to lower treasury yields as you point out as well, closer to 160. techry, nasdaq is up today. nvidia, splitting stock for for one approved in the first week of june. that catalyzed the rest of the entire sector. these moves are very bullish.

look what happened to tesla and apple last summer. their stock went vertical after they split their stock. let's check in on cabo oil and gas. they're merging right now with another oil producer. this is like a merger of equals they call it, all stock deal, worth around seven billion dollars. finally moderna is moving today because they just signed a deal in south korea with samsung biologic to provide its covid vaccine to markets outside of the u.s. starting in the third quarter of this year. at that is up and up. stuart: interesting to see moderna's stock move, but pfizer's stock, they were first out there with the global vaccine, still barely $40 a share. susan: with moderna pretty much a pure play on their vaccine right now where pfizer has a lot of other drugs and drug supplies they need to factor in the earnings. stuart: i thought it might go well above 40 but it did not. another one i got wrong.

we know elon musk is becoming bitcoin's biggest influencer, so we're told. what is the latest on musk. susan: every day it is something. he ha ad few tweets in the last few hours on doge, with the doge dog. they made headlines. the true battle is between fiat currency like the dollar and crypto and i support the latter. elon musk, i would throw in mark cuban, single-handedly rallied cryptocurrency in the last year as well. everyone is not happy. "wall street journal" did analysis. if you look where the bitcoin markets are trade, once test l.a. said no longer would accept payment for its cars that is when the price came down, almost breaching 30,000 this weekend. not everybody is hadn't especially a lot of bitcoin influencers. people would say musk is kind of

new to the bitcoin market. some have been in it since it came around in 2007 and 2008. some say maybe he should do less talking. stuart: he says something differently one day. then does something differently the next day. susan: buys half a billion dollars with bitcoin. doge is a hustle. doge is going to the moon. what is it? stuart: it gifts discredit to the whole crypto market. susan: you i'm not sure that is the case. someone deep pocketed elon musk says this will be mainstreamed for the future, some people, mostly young investors would say to listen to elon musk than charlie monger. stuart: so true. susan: so ageistth morning. phil mickelson won. stuart: dow is up 150 points.

bitcoin at 37,800 as we speak. all right. that's clear. now this. here is what else is coming up on the show. a school board taking action against critical race theory. watch this. >> the cherokee county school board and cherokee county school district will not underline, implement critical race theory, also called crt in our schools. stuart: they're not the only ones. the entire state of texas moving towards doing exactly the same. mike huckabee will cover that for us. we've been showing you a this video of migrants sprinting across the border. a lot of them got away. senator marsha blackburn joins us again. here we go again. do as i say, not as i do, the governor of michigan caught violating her own social distancing rules. we're on it as varney rolls on. ♪.

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with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. ♪. stuart: that is the statue of liberty. looks a little hazy right now. 64 degrees. it will get much hotter than that why you see a little haze right there. that is the statue of liberty. next the pushback against critical race theory growing. texas passed a bill that bans schools from requiring critical race theory in their curriculum. former governor of arkansas mike huckabee joins us now. governor, is it possible we can push this back everywhere in all states and get rid of it? is that a possibility? >> oh it is not only a possibility it is a necessity. this is nonsense. there is a reason that when one

drives his or her car the windshield covers the entire front of the vehicle. the rear view mirror, tiny little piece of glass for an occasional glance back. critical race theory is basically reversing that and it is putting all of the view behind us and doing very little to look forward. the civil rights movement was not about looking behind. it was about looking ahead. and that's what we need to understand about critical race theory. it is reversing the view. and when you drive always looking where you've been not looking where you're going you're going to have a wreck. critical race theory is a wreck for education because it has to be stopped, first of all it is untrue, it's a lie, and secondly disproportionally looks back at once was rather than looks ahead what should be. stuart: can you see a situation in which school boards which run education in cities stay with critical race theory and

virtually everybody else outside of the big cityies goes away from critical race theory? can you see that kind of division developing because i can? >> well i think that's possible especially in the heavily-run democrat cities but even in democrat-run cities parents are getting fed up with this. what will continually happen, people will push for school choice. they will pull kids out of ridiculous government schools indoctrinating rather than educating t could be the beginning of the end of the public school system as we know it because there come as point which not only parents but taxpayers are going to say, we're simply not funding that nonsense. we're just not going to pay for it. stuart: i look at los angeles, the mayor there rolling out a plan that gives 50-dollar savings accounts to first-graders enrolled in public school, all of them, 50 bucks. mayor garcetti he says this is a about racial justice and economic opportunity.

governor, what do you say to that? >> well if he gives it to every kid regardless whether they're black or white or hispanic, that's fine. it is not a bad idea. i guarranty you schools are wasting a lot more than 50 bucks on each kid doing dumber things than putting a savings account, which by the way they can't touch until they get ready to go to college or vocational cool. i'm glad about that the future for a lot of americans is there ability to do a trade, to be electricians and plumbers, finish carpenters and jobs that can't be outsourced, jobs quite frankly that will pay better than some of the jobs you can get in a college degree in philosophy and deep lesbian thought and critical race theory if there are such degrees being offered out there. i think it is not a bad idea. that may surprise you. the bad idea would be that if it only were applied to a certain group of people.

one other thing i would love to see, stu, let's get back to the place where kids work in the lunchroom, they do things around the school, get paid for that. maybe get paid with a lunch or a backpack. there is nothing wrong with teaching people the value of hard work and that it is work that provides the things that we want and need. that's a great economic lesson, even better than just giving a kid 50 bucks in a savings account. stuart: okay. very interesting, the different point of view. governor huckabee, always original, thanks for joining us this morning. we'll see you again real soon. thank you, sir. >> look forward to it. stuart: sure thing. now we've got a new study and it shows the long-term economic costs of school closures. i bet that has to be a huge number? susan: yeah, huge number, could be trillions of dollars in the long term. people at wharton school in pennsylvania, school closures will reduce u.s. gdp by 3.6% and hourly wages by 3 1/2% by the

year 2050. because of lower labor productivity in the future because of lost time in school for the students. the authors recommend extending out the gun 2001-2022 year an additional month. that would make a big difference. that would cost $735 billion, only cut the gdb to 3.5%. a net gain, right? that is a big deal. only 30% of students available in k-12 schools are attending? person that number needs to go up. stuart: k-12, that entire group of youngsters -- susan: only 30%. stuart: are full time in the classroom learning. susan: yes. stuart: pathetic. susan: long term ramifications. stuart: right. how long does it take to get over that? a lifetime. case closed. check the market though. we have a new high of the day for the dow up 214 points. that puts it back at 34,400. solid up for the nasdaq too.

13,600. a gain of nearly 1 1/2%. microsoft is one of the big winners in big tech this morning. it is up 2.2%. susan is laughing at me. i do hold a little bit of microsoft. done very well more me. i'm happy. i'm happy to see mickelson win the pga. happy to see microsoft at 250. susan: producers put that up just for you. stuart: i know they did. thank you very much, producers. good stuff. how about this? state-sponsored hijacking. senator marsha blackburn reacts to the news belarus had to pay to land in order to arrest a journalist. migrants literally sprinting across the border which is supposed to be closed. the tennessee senator is next. ♪.

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with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! ♪. stuart: well, well, i'll call that a rally. the dow is up 200. nasdaq is up 184. the s&p up 40. plenty of green on a monday morning. you love to see that, don't you?

belarus accused of hijacking a plane and forcing an unplanned landing. you may have seen the story over the weekend. susan has the story. susan: shocking. imagine you were on a ryanair plane going to lithuania, and a fighter jet ordering it to land. they force ad ryan jet to change course to land in minsk. said there was potential security threat on board. the president of lou shen comade and personally given the order. after the flight landed a dissident journalist was apprehended. european union called for his immediate release. ryanair, ceo of said he thinks that the russian secret service were onboard, possibly the same flight forced down in minsk. stuart: that is extraordinary

story. i don't know what the repercussions are. so let's talk to senator marsha blackburn. what does this mean, senator? what does it mean to american for policy, senator? >> what it means it is unparalleled attack on free speech. you have this journalist who had spoken out about the things that were going on. run as online paper. has couple hundred thousand subscribers to this paper and he is telling the truth about what is happening there in belarus. of course there have been many protests against the president. the people are really pushing back on this administration. but you have a dictator who has the power and so what does he do? he send as fighter jet to

intercept this plane to have it to land and then, what does he do? he grabs the journalist and arrests him while this plane is being investigated for a supposed bomb threat that had been made against the plane. stuart: i can't work out whether belarus is on the same side as russia's putin or whether they're at odds with each other and how they feel about america. i simply can't work it out. i don't know if it will make any difference to president biden or not, what do you think? >> you know i think that the thing here to watch is how putin likes to use his proxies, if you will. and he would love to rebuild the soviet union and we know that russia, china, iran, north korea, are all in cahoots and so what you have is a situation where belarus who is

not a member of the eu is trying to build favor or act in this dictatorial manner to show that they can be the strong man. i put this in the same category as you see some of the actions from chavez there in venezuela and the venezuelan people that are having to flee that country. and when you lose your freedoms and lose free speech, many times, stuart, you don't know what you've got until it's gone. i said this is one of those things where people that are, in the eu, they're looking at this, and they see this as a closer threat to them. stuart: you don't know what you've got until you've lost it. how true, senator, how true. i am going to show our audience again, this extraordinary video

we captured, our fox drone crew. you see them, about 40 migrants, all of them young men sprinting across the border. dhs secretary mayorkas said time and time again the border is closed. it is secure. quite obviously it's not much. what can we do about this? >> what we need to do is put the trump migrant protection protocols back in place, that remain in mexico policy. that worked. that got the border under control. we need to go back to building the wall. that is something, having those construction -- stuart: they won't. >> that was a help. stuart: but they won't, senator, i hate to interrupt, you're a united states senator but you know this administration is not going to start building the wall again, are they? >> they don't want to build -- have to stand up and be the people. and it doesn't matter to

individuals living on that border whether they're democrat or republican or independent, a green party. they see that their communities are being disrupted. their way of life. their private property rights. all of that is being interrupted by this pushing of individuals across the border. of course we have had a situation -- flying migrant children into chattanooga under the cloak of darkness. then busing them to other communities and they have done this even though the governor said we will not take the migrant children. declined their request to do that but this is how the biden administration is turning every town into a border town and every state into a border state. this is how you get these blue city mayors saying we're going

to be a sanctuary city and protect these migrants. there have been over 500,000 illegal aliens -- but the ones that have been captured since joe biden took office, 500,000. stuart: that is an enormous number. >> we cannot absorb, the communities cannot absorb this type of infusion of individuals into those communities. think about communities where the migrant children are going. you have school systems, health care, child services, housing and communities are not set up to handle this type of influx. stuart: they're not set up for it. senator, thank you very much for joining us this morning. difficult subjects but they have got to be talked about. we appreciate you being here. thank you, senator. the dow holding to better than 200-point rally. vaccination or termination?

growing list of companies mandating workers get the jab no order to go back to work s that legal? we have a report. huge crowds unmasked at the pga championship. looks back to normal. pete hegseth will join us with his reaction. i will ask him, pete hegseth, are you panicking over bitcoin yet? ♪. you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100

like you become an agent of innovation with invesco qqq i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis. and is not for treating symptoms unrelated to parkinson's disease.

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from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763 stuart: still rallying this monday morning. nice to see that, isn't it? the dow is up 211. the nasdaq is up 200. that is indeed a rally. there is this too, a growing numbers of companies are mandating the employee get the jab before returning to work. lydia hu is in new jersey.

lydia, this latest company has more than 30,000 employees. how will they make them up take the jab? reporter: hi, there, stuart a lot of these companies are facilitating access to the vaccines to try to help their employees get the vaccines pretty easily. they're requiring proof be provided of the vaccines by a certain date. here the university of pennsylvania health system is among the latest to join a small but growing list of employers to issue this mandate for the employees here, their deadline is sent 1st -- september 1st to get the vaccine. the ceo of the health system says they need to take the lead to help their employees to fight back covid-19. look at some other companies that we tracked down with mandates. on the list, delta, broadway production "hamilton," and they're mandating all the employees at the super

supervisor level at barna bass health. according to the university of pennsylvania health system, already about 70% of their employees have the vaccine. that means 11,000 are left to still get the shots. legal experts tell me this is likely very much enforceable especially in the health care setting. listen to this. >> someone works remotely all the time there is probably no reason for them to be vaccinated but let us take the case of a nurse who has hands on contact with people throughout the day. well there is a lot more reason why that person probably needs to be vaccinated. reporter: but, stuart, this is still very much a tightrope walk just because you know, the companies might be on good legal ground as the experts say, that doesn't mean it insulates them from the possibility of litigation, being the target of a lawsuit of groups of people say, hey, this infringes on my right to privacy and my health

or possibly could lead to discrimination action. that is why you hear some people saying the better approach rather than a mandate is to encourage your employees with education campaigns or small incentive programs rather than an outright mandate. stuart? stuart: thanks very much, lydia. let's get back to money because we've got a rally. i'm sure you like looking at it. the dow is up 223 the latest count. nasdaq is up 200 as well n a market like that you have got movers. beyond meat the story? susan: up 9%. you said it bernstein will take another bite of beyond meat with a double upbraid to outperform to $130. you still have upside from here. tesla says they will possibly use luminar lidar in self-driving cars. you know what lidar is? you thought i was going to test you. stuart: you caught me. susan: no, but so it is

interesting that tesla actually doesn't use lidar where most self-driving autonomous service providers actually prefer lidar scanners instead. what tesla uses are cameras, sensors, some say may have to transition to lidar. sound the like they might be looking at it. norwegian starting cruises in august, with u.s. itinerary. in alaska. stuart: that is different from starting crewses in florida. florida is the capital of the cruise business. alaska is a sidebar. susan: that is u.s. itinerary there. stuart: i take it all back. the stock is up 2%. i think this is for you, "wall street journal" says b-of-a, bank of america, will ban trainees from making cold calls. susan: this goes back to goldman sachs. a new analyst complained they were overworked didn't have time to eat or shower? bank of america, merrill lynch bans the calls, sparing junior

bankers from making cold calls. the kid gloves are on. so that means all they have to do is go through either the b-of-a referral link or linkedin. i didn't know this was a such a tortuous event for cold calls for young bank is. stuart: have you ever made cold calls? susan: of course i have. we're journalists that is it what we are supposed to do. stuart: this is different from getting a sales customer, signing them up for asking, for information. susan: trying to get a lead on a story is difficult. stuart: have you ever made a cold call to a potential customer for a financial company stuart: no. susan: research analyst first few months in my university days. we did. i didn't enjoy it. most people would manage up or be rude. stuart: how many cold calls you made trying to signed up customer did you actually get a customer? susan: not many. are you trying to say i'm not a great salesman? which is true. stuart: have you ever made pa

cold call. you say yes. how many were successful? susan: not many. how about you? stuart: good lord. i don't sell. i couldn't sell ice to eskimos. no way i could do that. susan: what do you think of the differences. goldman says no work on saturday. zoom-free fridays. apple devices or pellatons, which one would you take? i don't know. you have to treat the millenials with kid gloves. susan: you won't use the term snowflake. stuart: certainly not. that would be an insult. i would never do that. moving swiftly along, the future of sports betting could be coming to a bar near you. the ceo after betting company launching its first sports bar and restaurant in the united states. i want to i see what that looks like. a swing and a jab. more parks getting into the vaccine game. we're taking you to the home of the chicago white socks for that story after this much. -- white sox.

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♪ take me out to the ball game ♪. stuart: see that in the top

left-hand side of the screen there, take me out, andrews sisters. what you're looking at there is guaranteed rate field. i never heard it, i didn't know that was the name. that is the stadium, official name of the chicago white sox. guaranteed rate field. i did not know that. grady trimble is there. he is there because i believe they're handing out free vaccination jabs at that stadium, if you go to the game, is that accurate, grady? reporter: they will be, stu, starting friday when they play the orioles. they will have two vaccination sites at the stadium and if you get a vaccine at the game, they will give you a 25-dollar credit to use around the stadium. so after getting your vacs, you can get peanuts and crackerjacks. a lot of ballparks around the country are getting into the vaccine game. both the mets and yankees are doing something similar with vaccine sites at the stadium.

they're giving ticket vouchers for future games if you get the vacs. seattle mariners were the first to give vaccines at they're offering all three vaccines. the nationals in washington had a similar program this past weekend. this comes as 61% of the adults are vaccinated t directly benefits the ballparks to give people the jab, because the more people vaccinated the more people they can get into the stands to get back to a sense of normalcy. we wanted to talk about what various states are doing in terms of lotteries. you know ohio announced five, one million dollar lotteries who got the vaccine. they were the first to come up with the idea. several states, including maryland, ohio, new york, oregon i should say followed suit. they're doing various types of lotteries where you can win anywhere from 40,000 to a million dollars if you get the vaccine. so a lot of effort to encourage people to get the vaccine. here at the ball bark, by the

way, guaranteed rate field going to 60% capacity for today's game against the cardinals. so getting a little bit more normal at the ballpark and across the country, stu. stuart: for that 25-dollar voucher you might just get two beers at the guaranteed rate stadium. certainly not three. grady, you're all right, thanks for joining us. i want to bring the executive chair of ellis game technology. mike is with us. mike, this is a special interview because you're a sports betting company. you help restaurants arrive at sports betting in the restaurant. you're going to open the grand central sport book in d.c. to bring your idea to america. can you explain what is going on here? >> sure. thanks for having me, stuart. let me kind of revert back.

our business model what we're bringing into the u.s., obviously d.c. is a starting point, we're expanding across the united states but that's the core of our industry and these venues where sports betting thrives. we have several, we have, couple thousand locations in the italian market. as you might know in the uk it is the venues where people will fill a pub wall-to-wall. and essentially we're replicating that model and bringing it here to united states. stuart: this is elys game technology. that is the name of the company. are you doing something completely different from other sports betting companies, and if so, what is that difference? >> well one of the key things is there, we've just recently gone through a pandemic and this pandemic has decimated small businesses. so we're at a very significant moment in time in terms of where it could actually be a paradigm shift opportunities for these

small businesses so what we're doing is actually ushering a new channel a new channel that will revolutionize the u.s. market. instead of capturing the end-users directly, elys is becoming part of the value chain, provide them business or at least a vertical, where they focus on their core strengths, restaurants, food, barbershops, deli shops, providing them a sports book product that could potentially increase revenue threefold, bringing in customers that go there for the food products et cetera, keeps them there longer. think about the restaurant economy in new york city or washington, d.c., you have millions of visitors annually pass through there. if there is a super bowl, stanley cup, nba finals or world series for that matter, the patrons will flock to the establishments like lsu fans at championship game. it become as supercharged social environment and sports and sports betting already consumed

the most. stuart: mike, that is fascinating. mike, thank you very much for being with us. elys game technology. looks like you're doing all right. stock is up 9%. did well since being on the show. good luck to you. >> thank you. stuart: big hour still to come. oh, yeah, steve forbes, pete hegseth and bret melacovic. and there is more. america is busting out of the pandemic blues. not a mask in sight at the pga championship. everybody was real happy. that is my take next. ♪

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>> over 60% of adults, way over, have at least one shot, but this message takes the two shots , india still has a lot of cases. we don't. this is the way to keep it that way. >> if we're going to take risk we better well get compensated for it. i've yet to find a better risk- adjusted asset class than bitcoin. >> bitcoin has been getting a lot of what we call fodder, fear , uncertainty and doubt over the last week and whose sending this information? >> the narrative is now going to shift back to fundamentals, and the fundamentals have been quite healthy, so as painful as

it is for those that have invested in crypto in particular in the last week, i think it's good for the overall health of the market. >> look the economy is ready to explode. i've said this on your show week after week that it's rocket ship , it's ready to take off, what we need from joe biden is just stand down. just don't do anything. don't ruin this beautiful picture of recovery. >> ♪ one more time ♪ stuart: daft punk, okay, whatever you say, you ever heard of them? >> of course i haven't seen techno in a while so that's nice to see. stuart: that was a real surprise to me but look it's 11:01 east coast time, the markets are rallying and we're real happy. dow is up 200 nasdac is up nearly 200, and s&p is up 45 points, whose leading the bounce here? it's big tech. look at this , facebook is up

2.6% alphabet 2.6%, microsoft 2.1%, across-the-board, big gains for big tech. bitcoin, the latest quote, right now, 37.9 it had dropped to 32000 over the weekend. i'll call that a bounce. 37.9 your latest crypto quote for bitcoin, and now this. oh, just look at that! if ever there was a classic scene of america busting out of the pandemic blues this was it. phil mickelson mobbed by what looked like tens of thousands of fans as he won the pga championship. not a mask insight, absolutely no social distancing. who knows what dr. fauci or the president would say about all of this , but on kiowa island sunday afternoon it was a full-throated get out away back-to-normal celebration. it was cube rant. not just because it was a crowd favorite who won, but also,

because we've been couped up for a long time, and we've been encouraged by the media to be constantly anxious, fearful of a new spike, always cautious. you're not supposed to take your mask off in california for another three weeks. that crowd sent a strong message get off our backs. there are less than 30,000 new cases a day, half the population s have at least one vaccine shot. the death rate has tumbled and pfizer's vaccine is effective against the variant that's hurting india. a year ago, those scenes were unthinkable. now, let the good times return. one last thing if i may. a lot of people on the course and at home were cheering because phil mickelson won a golf major at the age of 50 years, 11 months and seven days. oldest major winner ever. inspiration to us all, third hour of "varney" & company is about to begin.

>> pete hegseth is there, thank heavens for that, look to me that was a picture of freedom, pete. americans demanding and getting their freedom of busting out. don't tell me you disagree with me. don't tell me that. pete: oh, okay, stuart. of course i agree. first of all everybody loves lefty phil mickelson making us all feel young, good for him and that was awesome to see , but i will say you know what that was a picture of stuart? that was a picture of following the science. that was a picture of people saying honestly, two-fold. one, we knew vaccines from an early on, and that's why donald trump said operation warp speeds a-number 1. we knew vaccines were going to be central to getting us out of this and then from the gibbs beginning, some of us, yourself included, saying how about personal choice and personal responsibility allowing people

to make decisions for themselves those two things coming together at this moment are a demonstration and sometimes you need those , you need leadership of people being willing to do what a lot of people have already been doing, and doing it very publicly in very big ways like the texas rangers when they said we're going to 100% capacity right away to start the season. it was a signal, we can get this done. it was beautiful to watch, and if you haven't been in new york city, there have been more scene s like that than you would think over the past couple of months, because america's back and ready to go if only the politicians will get out of the way it was awesome. stuart: all right you know what i'm going to talk about now, mr. hegseth you know it, i want you to admit, i want you to admit that on sunday morning, saturday afternoon, when bitcoin hit $32,000, i want you to admit that you were just a little nervous, that this was a plunge that was going to take your precious investment all the way down to maybe 25,000, maybe 22000, maybe back to $400 where

you bought it i don't know, but admit to me, please, that you were just a tad nervous, weren't you? pete: here is where i'll admit to you, stuart. i wish i could have found more available resources to buy while it was low again, ultimately. that's what i'll admit. yes, you see it in your life, whoa this is a much bigger dip than i anticipated to see but you also have a lot of leveraged capital out there, on other cryptocurrencies that ultimately have to be covered. bitcoin remains the top dog, and ultimately crypto is not going anywhere, and it's the way it operates, has been fundamentally sound, so i still feel good about it, and one of your previous guests talked about fundamentals, stuart. as long as washington d.c. continues to lose its mind, and print money in a way that's totally untethered to reality the real fundamentals will come in a limited supply of something that has value because people believe in it, and it's not necessarily always the dollar these days. i still think bitcoin is worth

investing in. diversify. stuart: okay. if i were to go out later on today, and put some money into a savings account for my newest tenth grandchild, should i put some money into doge, ethererum orbit coin, what's hegseth personal finance advice for my grandson? >> i've got a little bit of each, but i would say, i would go with the flagship, i'm telling you, stuart. there are plenty of other forecasts that show a very very strong recovery. it is still an infantile currency. it's still, but you consider its overall valuation, its beginning to rival the big guys and it will come back so i think it's the best gift you could give, how lucky of your tenth grandchild that he or she would get a investment in bitcoin that they will thank you for forever , for what it will look like in 10 years or 15 years. stuart: if you're sure of that maybe i'll just do it. hegseth, you, sir, are all right great to have you on the show always great. pete: thank you, stuart.

stuart: check those markets again, please. not quite the high of the day for the dow but still up 200. close to the high from nasdac up 184. susan is watching big tech. what do you got? >> so tech sector as you mentioned outperforming apple, amazon, microsoft, facebook, google you must love these games especially for that retirement fund and the reason is because yields are holding steady. we just talked about it's barely above 160 and you're heading into the last full trading week of the month so the dow is on track to post a gain for this month, s&p likely snapping a three-month winning streak so we're down for the s&p broader index. nasdac off lower and we're on track to snap the longest monthly winning streak since january 2018 if that happens. stuart: longest winning streak since january. >> it could be snapped if we're continuously down for the nasdac i was watching cryptocurrency since you talked about it there, with pete hegseth. so, we know crypto on a bit of a wild ride. bitcoin, close to breaking 30,000, but recovering today if

you look at the bitcoin play so the grey scales of the world, microstrategy , square, and pay pal, these stocks are actually up and since we talked about elon musk being the whale in the most influential person in cryptocurrency, we want to echosystem which in on his latest tweets? stuart: oh, should we please? >> so the bi crypto but also just a few minutes ago he was tweeting about dogecoin and back and forth trash talking session with the create or of ethererum which is the second largest cryptocurrency in the world. you know, you just don't appreciate this type of social media. stuart: it's just so new to me. it's just so new to my whole generation, the idea that you'd take social media headlines from celebrities, as a basis for an investment in a coin. i mean, it's just so new that's all. >> decentralized, community building. stuart: it's all new, not to you , but it's new to me. do you know what the producer is saying? >> wrap. stuart: get on with it. our next guest is warning about

the rise of soft anti-semitism in response to the violence between israel and hamas. here is the tweet. anti-semitism is ugly and hateful whether it comes from terrorist iran or extremist groups in streets of the united states. there is no place for this anywhere, anytime. steve forbes is here and steve, you wrote that tweet. you set it out, so my question is, why is the left silent on these attacks, senator schumer of new york city, in particular. >> well, sadly, for the last 20 years or so, stuart, even before, unfortunately the left has feared into anti-semitism. you've seen it in europe, you've seen it especially in places like france. you're seeing it here in the united states. they equate israel with judaism, obviously, and they're using israel's actions to defend itself, and to reintroduce anti-semitism. anti-semitism as you know has

been around for 2,000 years. you'd think after the horrible events of the last century, it would have been expurged forever but now here it is back again and people are not speaking out about it the way they should. the adl came out with a report, anti-defamation league between may 7-may 14, 17,000 tweets using phrases like hitler was right, was on twitter, and they've got to do more to really police that truly hateful speech instead of going after political conservatism and stuff like that this is a sickness and it must be fought. stuart: in new york city, if senator schumer is indeed challenged in a primary by aoc and i believe that that is his fear, do you think that a ac could beat him in a primary challenge in new york? >> a few months ago i would have said yes. i think it's tightened up since then. i think we're going to get a real indication in the new york mayoral race that no candidate has stood out but some have been

hinting that they want safe streets again and you can't have a city without public safety. so i think the tide is beginning to turn, but clearly, he is still fearful of aoc and of the far left, so is nancy pelosi , and it's sick. certain things should just be denounced and when israel defend s itself don't accuse israel of killing children and stuff like that. hamas and iran were firing those rockets into israel to kill civilians, period. stuart: exactly, steve forbes thanks for the clarity we appreciate that. come back soon. >> thank you. stuart: actor sacha barron cohen calling out jack doors it and twitter and we'll tell you why, plus here we go again, rules but not for me, governor of michigan gretchen whitmer caught violating her own covid rules again, we have that story. first though, california forcing uber and lyft drivers to go all- electric by 2030.

bjorn lumborg says the states ban on gas cars is an in effective solution. he is here. >> ♪ ♪ ♪ ♪ ♪ ♪i've got the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. saving is easy when you're in good hands. allstate click or call to switch today. ♪ na na na na ♪ na na na na... ♪ hey hey hey. ♪ goodbye.

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hey limu! [ squawks ] how great is it that we get to tell everybody how liberty mutual customizes your car insurance so you only pay for what you need? i mean it... oh, sorry... [ laughter ] woops! [ laughter ] good evening! meow! nope. oh... what? i'm an emu! ah ha ha. no, buddy! buddy, it's a filter! only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ stuart: oh, check those markets, why not. see the nasdac it's up nearly 200 points, the nasdac is now less than 4% away from its all-time record highs. this is helping the nasdac, the yield on the 10 year treasury is at 1.59%. yields down, tech stocks do well that's what you got right now, and then we have uber and lyft, they're being forced to go electric, in california, within

the next 10 years. environmental it's bjorn lomborg joins me now. bjorn, what does california hope to achieve by making these two ridesharing services go electric within 10 years? >> well, stuart, they certainly hope to signal that they really want to do something about climate but they also really don't want to pay themselves. of course it's something weird about the idea of going out and telling people, oh, electric cars are great, you will want it , but we have to force you to want it. look if this really was a great opportunity, and electric cars will be for some people, you don't have to mandate it, but the reality is that you're mandating a lot of people to buy expensive cars that they really don't want, in order to cut carbon emissions a tiny bit. remember electric cars still emit or make greenhouse gas emissions because they are still producing their batteries typically at very high fossil fuel cost, and of course, they

also take power from a grid that's still largely fossil fuel -based, so you need to recognize you're cutting a little bit of co 2, mostly with other people's money. that's a bad idea. stuart: okay, germany is now going to be running or heating and cooling the country on gas, natural gas, from russia. i see that as a plus, not diplomatically or international relations-wise, but that's a plus because there's less carbon coming out of nat gas than there is out of coal or oil, but there's real problems when russia supplies a major west european country with its energy i mean, i can see problems there , big time. >> yes, and i think, stuart, you're absolutely right. this shows us the problem that we get when we only think about climate. well, going to gas is a great idea. its been phenomenonal for the u.s. , you've both gotten cheaper energy and you've cut your carbon emissions, that's great, but if you actually have to live

off of russia and then beyond the lookout for them turning off the spiget and then you're up- creek, clearly that has huge security issues, and so you got to balance those with what you're cutting with carbon emissions, and it seems to me that germany is showing off very clearly, if you want to go carbon neutral very soon, you will have to rely on a lot of gas, and very often, that gas will come from questionable sources, unlike what you did from coal. that's a real cost. you have to balance that with the climate benefit that you're getting, and i don't think germany has done that. stuart: am i right in saying that you're now in california, lecturing at stanford university is that accurate, bjorn? >> well, i am affiliated with stanford university, but right now, i'm actually in sweden. stuart: okay, could you get a job at any western university in that climate department? >> probably not.

a lot of people feel very very annoyed about the point that i try to say look, global warming is a problem but the way we're fixing, costs a ton hurricane florence and doesn't fix very much and that's against the political correctness of this team but we need to know if we're going to spend trillions of dollars on not doing very much. stuart: you're right there. bjorn lomborg, soldier, on, man, soldier, on and we'll see you soon on this program. >> will do. stuart: thanks very much, sir. now this , investors are borrowing more than ever to buy stocks. i think that's called buying on the margin. >> you are correct. stuart: you invest in stocks you got to pay the money back, et cetera. what does that mean for the market? >> well it means that histories kirstjen nielsen. it's on edge. we're looking at margin more than doubling since 2000 and what happened in the year 2000? stuart: doubling. >> yeah, doubling since then of course that was the year of dot com bubble bursting, right? the brand new all-time high is when it cops to borrowed for trading that's what margin is so some say this is a bit

dangerous so look at mark cuban 's tweet on a big crypto unwind. so this is the great unwind but it's margin upon margin that he's saying this is leading to this great unwind especially as prices fell over the weekend and when prices fall, that initiates a cascade, right? if you're borrowing one item to then trade another, which then you use asco lateral to trade something else that's intertwin ed mess isn't it? stuart: and the pyramid collapses very quickly. now what's this about senator warren wanting to bar members of congress from trading in individual stocks? i've got a feeling i'm very much in favor of this. >> i think a lot of people are since they are privy these lawmakers are privy to inside information, especially when it comes to policy. they know things that will be implemented a lot sooner than the average folks so warren wants to immediately ban the lawmakers from trading any single stocks and that could prevent say the controversy last year. remember when the sec and the doj investigated these

suspicious stock purchases and trades made by u.s. senator richard burr, which might have been based on confidential information in closed or pandemic hearings that he knew ahead of everybody else. stuart: i agree -- >> it's called insider trading. stuart: but this is extraordinary. i'm now agreeing with senator elizabeth warren who is the second socialist in the united states, after bernie sanders. >> i think a lot of americans do agree with her on this. a lot of people do. stuart: i do too. next one, rules to be but not for me. the governor of michigan gretchen whitmer now apologizing for violating her own covid rules. susan what rule did she break? >> yeah, so maybe not michelin star, $600 meals. stuart: french laundry? but a photo did emerge showing governor whitmer at a restaurant with 12 other people, gathered around tables pushed together, which are in violation of her own covid orders. you know that so the health department said no more than six people can be seated together

and groups of patrons have to sit six feet apart. that was not the case in that photo at the local bar, and we know that restrictions on restaurants, you try saying that , a lot there, has been really a point of contention, you know, because since last fall, i think she's closed restaurants for 75 days, you're only allowed 25% capacity, and that only started on february 1 so a lot of restaurants have gone under, people have lost their jobs. stuart: and michigan has the same caseload or declining caseload as south carolina, where the golf tournament was played over the weekend. >> gorgeous. stuart: everybody had a wonderful time. >> unlike in michigan is that what you're saying? stuart: don't get me started i've been doing this two and a half hours i can't do anymore. so the nba playing defense after giving lebron james a pass for breaking covid protocols. yes, we're going to tell you what he did, and what the league is saying. plus, elon musk is reportedly been advising dogecoin developer s since 2019. didn't know that.

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stuart: two hours into the trading session this monday morning and look at that. plenty of green, dow is up 200, nasdac is up 200, s&p is up 45 over 1% all around. well, certainly for the s&p. nasdac winners on your screen, d excom, what do they do, susan? catching you by surprise there. i have no idea. >> no idea on that one. it's a servicer for chips. stuart: nvidia, the 4-for-1 stock split helping them again. and applied materials? >> chip supplier. stuart: got that, my next guest says elon musk has been advising dogecoin developers for years now. daniel roberts joins me he is the editor in chief of "decrypt media." daniel, first of all who says that musk has been working with doge the past few years in other words what's your source and then i'll ask you the significance of this so first of all, what's your source >> so, stuart, this is ross

nickel whose basically been one of the unofficial core doge developers for a while and doge is open source and there are no real core developer s but if you rewind a little bit remember when elon musk shopped the crypto markets and now in hindsight you think there was a little bit of a plan there and of course his tweets move markets but we know he has been in talks with some of these unofficial core developers who do work on the code for years now and he said he was working with doge and at the time, people on twitter said are there any and now we know indeed there are. stuart: so what's the significance of this? you've broken this story, your source is strong. what's the significance, what does this mean for the crypto market? and for elon musk? >> yeah, i know, stuart, that you guys are talking about dogecoin and you've remarked as many do, wait a minute. it was created as a joke and it's still a joke, and yet, if enough influential people are in on the joke, we've interviewed

mark cuban who hasselberg been pumping doge on twitter and the dow now accepts it as payment, except for today, but the on site with this information, if you look at musk's withdrawal from bitcoin and his questioning of its environmental impact, in a different way don't you? and it starts to look like maybe he is really trying to make dogecoin crazy, though it seems, since it is a joke, an actual, you know, feasible alternative to bitcoin. he wants to make it more environmentally sustainable, increase the block size so they can be used for a cup of coffee. it looks crazy but musk has influence on the crypto market. stuart: is this what you do? decrypt media? are you sort of negative on the whole crypto market or exposing sort of the goings on what does decrypt media really do? >> thanks for asking we are just a neutral, unbiased source for cryptocurrency news, so we cover all of the daily news and of course as you know, there has

been a flood over the last year. i mean when i looked at people that say crypto has gone more mainstream than ever before, regardless of your view even if you think it's too big or you want nothing to do with it there is certainly more mass interest than there's ever been. we cover it and explain it and then we also hold your hand and explain some of these concepts in our learn section which is equally as important as our daily news coverage so just like yahoo finance or recovered stocks, we cover crypto news. stuart: do you have any imports or any opinion on like dogecoin >> you know, there's a few things i'd say, stuart. first of all i never tell anyone necessarily to invest in crypto. we don't dispense investment advice. it's like anything else, only put in what you can afford to lose, it's a highly speculative asset but what is table stakes now is just to say that it's here to stay. that doesn't mean that i believe it's going to replace the dollar or revolutionize the whole world, but bitcoin has proven itself over 12 years and whether you're interested in it or not

it's not about to collapse tomorrow. you know, skeptics used to say what if it goes to zero? it's not going to go to zero, its never gone to zero. there are momentary crashes as there's been and corrections, but it has proven its staying power so our view is that the technology is really interesting and it's here to stay and we cover everything in that universe. stuart: all right we'll leave it at that. it is here to stay, says daniel roberts, editor in chief of de crypt media. thanks very much for being with us we'll see you again. >> thanks so much. stuart: then there's this , theme parks in california have have a date when they can return to full capacity. okay, this is california. >> yes. stuart: so i presume that the super-anxious californians will make that date way out in the future before you can actually go and enjoy it. >> no i don't think so, is jun? is that too far away for you? that's just a few weeks. stuart: were they watching golf over the weekend? >> they are getting there and plus you can go to disneyland or universal without having to

wear masks outdoors i think it's a fantastic thing so they are getting back to full capacity, in just a few weeks time but they are encouraging attendees to either be fully vaccinated or confirm a pre-entry negative test before they go, un vaccinated will be encouraged to wear masks on the park grounds. now california is not considering a statewide vaccine pass for this time but they will revisit the guidance september 1 what would you like to see instead? stuart: i'd like to see the crowds at the pga tour. >> there will be crowds at disneyland. stuart: i'd like to see them be crowds like at the golf over the weekend. >> a lot of kids. stuart: people enjoying the great outdoors on a fine victory by a great golfer it's too much to ask in california. now this. >> we're getting there. stuart: i'm getting ahead of myself but look at this. that's video you'll only see on fox. migrants literally sprinting across the border. a border which is clearly open, no matter what the administration says. we've got a live report from right there, coming up for you.

>> president biden's tax plan would make home buying a lot more expensive, forcing more people to flee, high tax blue states maybe. a report on that, just ahead. >> ♪ ♪ ♪ ♪

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>> ♪ ♪ ♪ ♪ stuart: relaxing music i'd call that, for a day at the beach, on cape coral, florida that's what you're looking at and there it is it's 79 degrees and the sunshine will rollout soon. president biden's tax plan includes higher taxes on real estate transactions, edward lawrence is with us. will this encourage more people

to move to lower tax states? reporter: you could see some of that and the analysts are saying it could raise the price of everything. the tax stuff is complicated but it would have a big real-world effect and the administration proposed raising the capital gains tax to 39.6% president biden arguing the wealthier need to pay their fair share. well, i spoke with chris whalen, and he and his wife just moved out of new york city, to westchester because of crime and taxes. they also sold in new york partly because of the capital gains threat that's coming down the pipe. he described a negative one-two punch with the capital gains tax increase compounded by the proposal to remove section 1030 that allows the exchange of property and deferred capital gains taxes. >> man in that small investor in a small town who owns a 10 or 20 unit apartment building, okay? all of their savings are invest ed in that property and so now, they can't pass up property

on to their children. they have to basically stop, and the cost of that asset is going to go up. reporter: and because of that tax increase, that will be pushed into the sale price. now if it's a farm, for example, it means the cost of food coming to the farm will go up because the price of land increases, they have to pay for that increased cost. now whalen says these taxes are also a way to go after republicans because small business owners and farmers tend to vote republican. he says it will not be enough money over 10 years to put a dent at all in the federal debt. back to you. stuart: edward thank you very much indeed and then there's this. borat actor, sacha barron cohen calling out jack dorsey on twitter. >> uh-huh that's right. so regardless of the gaza cease-fire, social media has fueled anti-semitism according

to sacha barron cohen, so he tweeted saying why do you allow "hitler was right" online, great question. more than 17,000 tweets were posted on twitter from the 7-14 when the violence started against individuals and jewish people here in america, and that's because there was some variation, he says, of the offensive hashtag phrase, so you allowed this on your platform, but then you ban other individuals. you don't help the situation. stuart: endless contradictions you do not help the situation, exactly right and then we have lebron james dodging a reporter 's question, after he was caught violating the nba health and safety protocols. all right what did he do? >> so he shot a promotional video an event with hip hop star drake, for the tequilla brand that he's also invested in but that actually goes against nba's covid rules especially during the playoffs where you can't be mingling with people that may

not be vaccinated and a lot of individuals at a video shoes has more than one person there, so lebron james basically, he a joyeded a suspension and a fine, and playing in game one despite the fact he violated the nba's health and safety protocols and he will be there for game two and you heard charles barclay saying the nba does not have the guts to suspend the number one high profile player, especially during the playoffs. stuart: i heard him say that and he's exactly right. >> that's what happened. stuart: they just won't do it. >> and we're unsure whether or not lebron has actually been vaccinated himself too. but when you're a big star. stuart: i'm not asking him. >> [laughter] stuart: anyway, this is really interesting, you know? have you seen those drones they are all over the place. well more drones are flying within restricted air space. officials racing to figure out how to stop that. we've got details, the whole story coming up. >> ♪ comply with me, let's fly

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>> ♪ ♪ ♪ ♪ stuart: what is that?

guitar-playing? yes, sugar ray. [laughter] stuart: you are looking by the way at los angeles international airport, and we're showing you that because there has been a surge in drones flying near airports like lax. officials are trying to take some action on this. we have our own drone expert his name is brett melacovic, whose a frequent guest on this program, and this guy knows drones. so come on in, brett, how do you identify and stop a drone if it's anywhere near an airport? >> well it's good to see you again, stuart. the first step to address that question, and any potential drone threats is through detection. we need to know what's above us. we need to know why. we need to know loss flying it and i think we're finally starting to see some of that data shake out. for instance, defense technolog ies which is a developer of drone-tracking technology based in california just released the first-ever cloud-based drone detection system called stratus, and they

deployed these sensors all across the united states to listen for drone activity and what they found is alarming and should be a serious concern for big businesses and governments. for instance you mentioned lax. white fox found that drone encoringses over the restricted air space nearly tripled from 2019 to 2020 you had even in april alone over 1,100 flights, and so these sensors that are out there are seeing same scenario play out in nearly every metropolitan area especially manhattan where we've seen a steady increase in year-over-year drones flying in restricted air space over commercial businesses. frankly i don't think major companies have any clue just how much data is being collected on their operations from above and i think we have to do better and move to protect our national infrastructure as a whole. stuart: okay, supposing, just suppose, for example, that i'm in an airport, i'm in the control tower at lax. that warning system tells me hey , we've got a nasty looking drone coming right at us. are we in a position to stop that drone, shoot it down, are

we? >> the technology is sure there absolutely. the technology is there. unfortunately there's a lot of regulations and laws that exist that stop, for instance, airport security, to be able to use what's called mitigation software, to knock that drone out of the sky. now, we see this stuff employed overseas for instance when the iranians used drones to conduct attacks, but in the u.s. they're unable to use that and that has to change. it absolutely has to change, and it's really going to take the regulators to get to work and stop wasting everyone's time to get that fixed because right now, we can just detect the drones, and frankly, the truth of the u.s. government, they don't have any clue how many drones are flying or what they are doing around the air. you've got federal officials that are concerned, drones are flying across the border, smuggling contraband, you know, you've got the department of homeland security testing out these detection systems because there's just such a large threat that frankly, i don't think

anyone has their mind wrapped around it. stuart: well, brett, if i've got a drone, am i allowed to fly over say the colonial pipeline? am i allowed to do it? >> so, i don't know the colonial pipeline specifically, but if it is a restricted area, a government site, stadium, locations that are more, you know, federally- secured absolutely, if they are legal to fly over that, but still we're seeing drone inc ursions. for instance the nuclear regulatory commission over the last decade saw over 50 drone flights over these restricted areas. stuart: does anybody get fined, brett, if you can identify the owner of the drone, and i think you can these days, haul them in and say you're fined $1,000 for flying over that air space. >> the faa does have laws to do that but the issue right know is that we're getting a lot of these pilots that are clueless and careless and they don't even necessarily know they're flying in restricted air space but then on the other hand you have these major threats and we can point to incidents overseas where you've got iranian proxy groups

that are having drones slamming into oil pipelines and it's causing this massive hundreds of millions of dollars to be last in the global economy and those are the ones that we've got to be on the lookout for because it's only a matter of time before they start using that against u.s. interest. stuart: brett velicovich, another threat we all face, thanks for joining us and telling us about it. thank you. want to get back to that exclusive video we've been showing you, 40 migrants rushing the southern border. bill mallugan is there. all right, come on back in, bill you've been breaking ground with these stories. how can the administration keep claiming the border is closed when you're taking video showing it wide open? >> it's a good question, and it's a question that a lot of the border patrol agents have on the ground here in the rio grande valley sector. they hear the administration saying the border is closed, but a lot of the videos that fox has been getting lately show that's clearly not the case. this video from our drone team, our fox flight team, exclusive

shot yesterday here sunday morning take a look at if we can pull it up. large group of migrants making a rush on the u.s. border running away from border patrol, not turning themselves in like we've seen some others do. most of these folks were men, single adults no kids. you can see two of the men were handcuffed together, running together. you see one border agent in a pickup truck, badly outnumbered just trying to catch up with this group and trying to get them to stop but they don't stop. they keep running through an open field spreading out all over the place some jumping across a stream, one guy gets stuck in a pond, border agent continuing trying to follow with them but there's too many for hem to chase at once. that group continues running and some try to scale over a fence. ultimately we did see border patrol catch part of that group, about 10-15 of them, but it did appear to us that some of that group, a chunk of it, did end up getting away and escaping back into the brush. now this morning senator john kennedy was on fox & friends and he blasted the administration's

constant claims that the border is closed. take a listen. >> the department of homeland security has announced that the border is closed, but they lied like they breathe. i mean, i don't mean to be ugly but they lie like they breathe. when i heard the secretary say the border is closed, my mind went back to that image of president clinton looking to american people in the eye and saying "i did not have sex with that woman." reporter: then take a look at this photo right here. this is from texas state trooper s friday evening, here in la joya. they did a pursuit of a traffic stop of a mexican national and this man had an arsenal of 16 guns some high-powered assault rifles and a sniper rifle, 3,500 rounds of ammunition, texas state troopers tell us they believe that man was heading to mexico to smuggle those guns across the border, back into mexico and back out here live,

you continue talking about the security concerns. last wednesday, 30 minutes southeast of where we are right now in hidalgo, border agents apprehended an active ms-13 gang member mixed in with a group of 70 migrants and that gang member has an active warrant for his arrest out of harris county by houston, for sexual assault of a young child. send it back to you. stuart: bill mallugan, breaking ground with remarkable reporting well done bill, and thanks for being with us today. >> thank you. stuart: i'll take a real left turn now, let's move away to something else here, the monday trivia question. what was the first official u.s. state? we'll be back.

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♪. stuart: i challenged you when you saw this trivia question, what was the first official u.s. state, what did you say? well i said i think i said, what did i say? you said virginia. >> i said virginia. stuart: i said, kind of said, well maybe it was one of the smaller states near washington, d.c. maybe it was delaware. i got it right. i got it right. stuart: what is coincidence. stuart: let me give you the history, susan. on december 7th, 1787, delaware become the first of the original 13 colonies to ratify the u.s. constitution which

makes them the first official state. which was the last state to be ratified? >> hawaii. stuart: correct. well done, susan li. good charity. got 10 seconds to go, i will tell you this is a rally. the dow is up 180. nasdaq is up 190. how about that? ashley webster in for neil. what are you doing? ashley: thank you for the trivia for "varney & company." maybe i didn't want to know but for the next cocktail party. stu, we appreciate it. all about delaware. welcome to "coast to coast." i'm ashley webster in today for neil cavuto. we have busy two hours ahead as always. the markets start the week at least in the green. the dow up over is 80 points. our top store, crypto