maria: "varney and company" begins right now, take it away. stuart: good morning, everyone. here is the sport version of the financial news. stocks up, cryptos down. they may or may not be connected but that is happening. dow industrials within one% of their all-time record high up 60 or 70 points. the s&p 500 within one% of its all-time high on the upside. maybe a quarter a 12:45%.

the nasdaq composite up half of one%. nasdaq rallied and this is why were partly the reason, the yield on the 10 year treasury is out one.59%. big tech loves lower interest rates. let's get to the cryptos. don't have any brand-new he on must crypto tweets, that is why bitcoin is coming down. the message produced a solid crypto rally but bitcoin is down 37,$000 per coin and the latest quote on his cerium is slightly lower for it.. ethereum. amazon about to by mgm studio operations giving amazon access to the james bond and pink panther movies and a lot more. another expansion where the online giant uses its capital to grow in other areas. lawmaker ask if the sheer size of big tech giants is grounds

for breaking them up. florida, the governor, desantis, outlawed d platform and censorship by social networks in his state. the governor was censured by google's youtube after he questioned whether young children should wear masks. youtube said he was running medical misinformation. the governor didn't like that and is pushing back. tuesday may 20 fifth 2021, got myself out of date by hundred years, and it is tuesday all day. "varney and company" is about to begin. ♪♪ got to testify ♪♪

stuart: breaking news on the important price of homes. the case of a home price index. this is what people are talking about. but another

factor in this economy. stuart: let's bring in luke lloyd. the kind of question often thought -- put to me, if you have any cash to put into the market you put it into stocks or cryptos, what are you telling your clients? >> you wait for both. it is about managing "risk and reward". do i think the stock market goes higher absolutely. bitcoin goes higher in the long term absolutely. a couple things investors should keep in mind for the short-term. we saw a record stocks but no price action or follow-up. historically the average market drawdown top to bottom in any given year is close to minus 14%. the lowest we've gone is minus 4%. combine that with weak seasonality, buy low and sell high, we are at 14%, we took

profits and money off of the table, has to be at the right price. if you want some stocks to pick, las vegas fans and 6 flags. i talked to you about how much the trip to las vegas was jampacked and crazy. can't imagine what it will look like with 3 times the gaming revenue in las vegas. up your way, 6 flags families have more money than ever saved up and ready to spend it. families and friends take day trips to regional theme products rather than a hassle staying with the kids, those are great stocks and great prices. stuart: you wouldn't plunge into stocks or cryptos immediately, you wait for what you think is a better pricing structure and then jump in. is the economy really lighting up? we have a lot of talk that it is a rocketship economy and it

will take a rocketship economy, continuing rocketship economy to keep the market going up. is that the state of the economy as you see it? >> you are seeing a disconnect from the economy and stock record, it is ready to go full force ahead was one of the biggest issues with the extra unemployment being handed out the prevent people going back to work because they were making more money staying at home for another rather than going for a job. now 20 states illuminate those benefits. the people get off the couch and the back to work. this will light up the economy even further. the economy wants to light on fire but it is up to the politicians in washington and governors of states to let it fire. by the river, soleimani. even though the economy will be on fire it may take time for the stock market to reflect it. remember the market is a discounting mechanism for the future. the goodness was priced into the stock market. a lot of it was. stuart: understood. thanks for joining us, we will see you again later. on news on moderna, this is important. they say the moderna vaccine is safe and effective for kids 12

to 17 years old specifically 93 to 100% effective in a trial with 3700 participants. they plan to submit their findings to the fda early next month, stock is up one third%, 168 on moderna with that good news. other movers this morning like there always are, tesla up 3 bucks, 610. >> tesla just said they announce and establish a data center in china to store data locally and the data is generated by all cars sold in jane it will be stored locally. that is a big deal, remember there were fine concerns in the chinese military and the defense department says nobody works for us or your suppliers can buy a tesla. this is stock positive if it means they can sell more cars in china which is the second most important market. stuart: total must not mess around with china. >> that is right so you have to store the user data in the

country itself. i want to show you what is happening with nvidia because we have earnings after the bell. lordstown embroiled in this scandal because they covered production targets, raising money, not a good look after encouraging challenges in production of the flagship endurance electric pickup truck which they hope to start producing in september so they say they will only produce half of what they forecast. the reason this is a problem, hindenburg research, the short seller accusing lords down of reporting fake orders in order to raise capital, and this is years from actual production. stuart: down it goes 14%, $8 a share. tell me. >> world's largest chipmake a reporting fantastic numbers. stuart: that is a strong word.

>> these days with the world's largest chipmaker and cloud computing self driving cars and traffic came chip the they are going to do fantastic and both stocks split. stuart: we had a great run in the last couple days, we talked in the $500 range. talk about united airlines. domestic leisure flares are topping, going above, they expect the streets continue through the summer. the tsa, 1.86 million people. it was 2.1 million on the same day in 2019. you are getting pretty close within 10% of where we were in those wonderful years of 2019 and then there is this. it seemed like wonderful use to me. florida cracking down on big tech censorship. we will tell you what governor

rhonda santos is doing about it. yankees manager aaron boone on the show, we will talk baseball and crypto. talk crypto's for everything these days but first we will talk to an actual crypto minor. elon musk tweets he's talking to the minors about what? massive use of electricity. we will ask a bit coin minor himself. we are just getting started here. lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones.

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books like we are going to open on the upside on wall street. 80 up, down the skills, vaccinemakers, white house official just said as of today

50% of all americans will be fully vaccinated. that would be american adults. 50% as of now fully vaccinated. all vaccines up especially moderna where trials suggest they are successful in 12 to 17-year-olds. and the governor of florida, rhonda santos wants to make sure big tech stops unfairly censoring people. what did he do? >> he signed a bill that would find social media platforms, ban political candidates, that means find a corner million dollars a day. any social media the d platforms any candidate for statewide office, 25,$000 a day, kicking off candidates for non-statewide offices. dissenters and other republicans say that is necessary to protect against gop censorship when it comes to big tech, democrats on florida's legislature will push

back on the implementation but his knee and comcast get a pass for offering theme parks that are exempt from this law. stuart: going to pass? >> they do. if you fill tax coffers you get a pass. 250,$000 is a lot of big tech companies money. they have to get democrats on board. stuart: fighting back. bitcoin surged yesterday after elon musk sent out this tweet, quoting directly, spoke with north american bitcoin minors. they committed to publish current and planned renewable usage and to ask minors to do so potentially promising. the ceo of cipher mining, tyler page, crypto minor, do you think musk is thinking about

getting into mining himself or interested in using less electricity to mine cryptos, which is it? >> anyone's guess what the ultimate end game is with elon. what i would say is let's look at his track record. he is an established futurist, multiple businesses, creative visions of the future and what it will look like across energy, transportation, money in this career. hard to say he has businesses, in this phase. he is an enthusiast. the bitcoin on balance sheet is a pretty good thing to bring attention to the carbon footprint and energy usage in the industry because this is a bill that had poor coin has to climb to be a dropdead. stuart: can you mine cryptos

after massive amount of electricity. >> you do need a lot of power to mine the coin. the industry itself has a good story to tell because bitcoin mining is uniquely suited to using renewable energy. what is different about it is bitcoin mining is very mobile. it can go where power is located. the wind blows, waterfalls fast, and often those locations aren't near where large population centers are. it can be mobile and go to the sources of power. overall, can have a large focus of renewable, and the use of that energy is more relevant. stuart: a lot of our viewers

even myself don't really understand what crypto mining really is. why not just tell us what a crypto mining operation looks like. as far as i know it is a series of computers that talk to each other. >> i think of it this way. it is a data center business and just like there are huge data centers run by amazon and microsoft it is a similar business model. we operate a data center where we plug in a bunch of those powerful computers and spend dollars for electricity to power them. instead of that computer power to an enterprise company, and the infrastructure to validate transactions on the network. we get paid in bitcoin radovan dollars by an enterprise client was from a business perspective it is a similar. stuart: do you have a finite amount or number of bitcoin and operation, in any period of time.

>> the bitcoin software itself is programmatically defined, how much bitcoin will be released over time. there is a relief schedule. 6 and a quarter new bitcoin are released every 10 minutes or so every time a block of transactions gets validated. we will be competing with other minors around the world so effectively how many you get rewarded is directly proportional to what percentage of the network computer power you are providing. stuart: you are true believer going public, when is this happening? give me 30 seconds. >> we are at the mercy of the sec so we have to finish the process. it is all on track and we are hoping to finalize it in the next few weeks or so. hard to say the date, don't have that yet but it will hopefully be very soon at which

point we are building out what we hope is the largest bitcoin mining operation in the united states. stuart: you are up your play in crypto money, bitcoin mining is what you do. >> that is correct. if you are an investor who wants exposure to a picks and shovels business that provides the infrastructure for the network to flourish that is what we do. stuart: we will be following you, tyler page of cipher mining. thanks for being with us. we explained. take time to look at coin base, jpmorgan made a big bet so what are they saying? >> calling it overweight today where $371, quite a bit of upside, 60% or so is more bullish than goldman sachs, it is a by worth 306. and it is growing and that is interesting and coin base will benefit from this growth. they are cutting the price

target, 225, $12 billion wipeout or shakeout we saw in crypto markets. and online at $12 billion in contract according to one analysis with leverage at 100-1 in the bitcoin and crypto space. stuart: coin base 227 now a couple big names going about 300. >> jpmorgan, goldman. stuart: quick check of futures as we head to "the opening bell," looking at some green right there. solid gain for the nasdaq up half of one%. amazon close to reaching a deal for mgm studios, the james bond franchise, various others. susan has details but why not show the first thing on tuesday morning. role it. >> what is your patient? >> not the sort of thing that is going to form. >> wise that? >> i kill people. it is my world.

♪♪

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stuart: i've not listened to the music as much is looking at the picture. that is san francisco. you can't see much of the city but you see the clouds. sentences go 52 degrees, it is cool. futures in the green, not a huge rally, green is good. 60 points higher in the dow, 67 for the nasdaq. stocks up, cryptos down. a theory -- ethereum breakeven.. and do you think some of the air, has come out of the cryptos for good. >> >> speculative assets.

some of the robin hood games heaviest off. investors, dividends and earnings, the standard & poor's came out with first-quarter numbers, drumroll please, it is extraordinary, 27% increase on a year-over-year basis in earnings and particularly impressive, the profit margins sort all-time record highs of 13.6% which under the circumstances, is mind-boggling. stuart: to have a big impact on the market, corporations, got to keep up with that increase in profits. >> >> significant double digit increases.

we had a quarter where we were up 60%. the strength of the profit margin, let us go up, it is making a huge comeback and the outlook for earnings might be surprisingly good down the road. it is 68%, as good as it gets. stuart: being bearing in mind what you're saying you are looking for a much higher stock market, much more value in the stock market. a rally by the end of the year. >> you and i have been talking about potential for melt up and melt ups have a negative connotation because it is a melt down but i am coming to the conclusion that what we had so far has been in earnings melt up which is a healthy

thing and if that continues it is going higher. i don't think it will go higher at a double-digit pace but high single digits is likely for the next couple years. stuart: those s&p numbers on profits and profit margins are spectacular indeed. thank you very much indeed. here we go, the bill is ringing up 10 seconds to go before tuesday morning trading gets underway and when it does we are expected to see some green, not a huge melt up rally by any means, we we are seeing some green, 2 thirds of the stocks, dow 30 are in the green on the upside 66 points higher in the dow, 0.2%. the s&p 500 opening higher, a 12:45% higher. have a look at the nasdaq, and the yield on the 10 year treasury below 160. nasdaq looks good.

and microsoft gaining ground in the first minutes of tuesday morning. and to acquire mgm studios. susan, amazon gets bigger and bigger. >> the price tag in the mgm deal, up hundred% premium, it was last valued, $5.5 billion on the chopping block in the sale block years. what is wrong? amazon, doesn't it help everybody else if there's more money going around the economy? stuart: no difference between us. i'm in full favor of that. the giants sing their money to make other industries much better and there's nothing

wrong with that. when you get to a certain size, you get to be so big that sheer size of the operation makes politicians think that is too big, we are coming down for size. stuart: market share has the most monopolistic, in big tech. and if they pay $9 billion, go for it. content is expensive, and the time order deal with discovery. >> it is also had a raw nerve since they were buying james bond in 007 in the franchise. stuart: know. i like the way these companies are invigorating whole industries.

that is the way the capital should be used. they have a political problem when they get so big. stuart: on the screen, it says, show me shake shack. i've never been inside a shake shack, never had one of their burgers are milkshake, but stock is up 9. >> have you ever had a milkshake? stuart: i don't like them. haven't had when he decades. why are they up 9%? >> two upgrades for the premium burger chain goldman sachs. outperformed the $118, the last reopening restaurants that have got more bid. stuart: that is interesting, a big gain, 9%. here is another one. draft kings out of my eye here. >> and it was really interesting. what they are doing is buying

online sports media companies, their outfit starts, it is out pick. we don't know for how much, the national deal with $200 million. stuart: consolidation is natural with these players in the field and a rapidly expanding industry. >> media arm to arguments or online sports betting. stuart: telethon opening an american factory. the stock is back to 100. i guess they got a supply chain from overseas. >> they are going to build right here in the us. what does that mean for costs? who knows? telethon is investing $400 million to build the township in ohio. it is in the state somewhere, they will break ground hoping to reduce equipment in 2023 and hoping to create 2000 jobs but if you can't get your stuff

from overseas here. we will see that onshore. stuart: i've got the dow now up 82 points with four minutes in. we have a very modest rally in the early going. the dow 30 headed by walt disney, and it is $200 a share. the s&p for winners, the 500 stocks, the big winners headed by royal caribbean, 3 cruise companies, on the list. >> american airlines all travel today. stuart: travel reopening 1.87 million travelers went through tsa checkpoints. >> and the lowest count of cases in america since the pandemic started since last year. stuart: we are under 20,000.

nasdaq winners on the screen headed by applied materials. back to that story of a chip shortage, chipmakers doing very well. >> a lot of chip suppliers, nvidia is up a fourth straight day after the bell on wednesday. and how these chipmakers, and and it has canopy growth. >> calling it a by, with sentiments, the profile is pretty favorable at these levels. stuart: moderna up. >> 100% protection of 12 to 15-year-olds in their trials, we know schools are not going back in class in september so this will fortify that and

united airlines i found interesting, they preannounced in some ways filing for the fcc, ticketed yields that is important, accelerate, because business is doing better. the recovery, the yield and amount of prices they charge is going up which is good for them. stuart: very bullish. 1.87 million people on sunday, travel is back. now this is a story, don't know if you will like this or not but got to do it. prince harry, do not turn your sets off. he continues to drop more truth bombs about the royal family. sorry i have to report this but role tape. >> i thought the family would help but every single ask request, whatever it is met with total silence or total neglect. stuart: he won't stop talking, won't stop whining, ironic since he called the first

amendment which is all about free speech, he called the first amendment, quote, bonkers. let's see what nigel farage has to say about that. biden's tax hikes look like they are coming. the markets don't seem rattled. we are talking to the man who wrote trump's tax cut bill, kevin brady, is on the show next. ♪♪ that building you're trying to buy,

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stuart: 12 minutes into the trading session up across the board. not a huge rally but the dow is up 90 and the nasdaq is up 80. the 10 year treasury yield, moment ago 158, now it is 159, interest rates down and that makes tech stocks look a little better.

price of gold getting to $1,900 an ounce. 1885 is your price. bitcoin at 37,$000 per coin. the price of oil today $66 a barrel, gas still at -- down a fraction, 303 per gallon. a dollar rate, in california the average price of a gallon, $4.16 a gallon. president biden looking overseas for the metals used with electric vehicle production. >> because against campaign promises, biden administration will rely on ally countries to supply the bulk of metals needed to build the electrical cars. processing them to battery parts.

this is to placate environmentalists. more of these mining licenses. imagine the liberal left going up in arms and what this means for climate change. the environment. instead, and the batteries here instead. stuart: the climate gate laying the shots on this. >> the campaign promise. the production in the us onshore. stuart: it is not. our next guest calls president biden's tax hikes a major economic blunder. congressman, tax hikes are coming. accept that. some tax hikes are coming.

i don't understand why wall street and the economy are not upset about it. will we get no tax hikes at all? really? >> the tax hikes are in deep trouble, people support infrastructure spending, most of it, too much is wasteful spending, green subsidies. the backs of american workers is what crippling tax hikes do, they sabotage, they end up with it, sending american jobs overseas and the american public doesn't want to see that so every day those so-called moderate business democrats in the house who ran that way understand a vote for these tax increases they are not coming back to congress. stuart: do you really think, we

will get through this? you really think we will get no tax increases on individuals or corporations? we are not going to do any of that at all? >> i will do my best to make that happen, basically why would we raise business taxes to be less competitive and give advantages to china, europe -- stuart: i will tell you why. democrats don't care about the efficiency of business, they want to beat it up. they don't care what happens to the economy if you tax the rich, they want to hurt the rich. that is where they are coming from. no interest whatsoever in making this growth oriented economy. >> the american public sees it differently and tax increases lands on workers, working families.

the last time they went back to the battle, obama biden dave, the tax code regularly start american companies manufacturing jobs overseas. we have a good chance, strong chance defeating tax hikes. stuart: cryptos should be regulated, and if so how should they be regulated? >> great question. the bitcoin transactions, going forward further regulation not to be smart, ought to be very deliberative based on real data and real problems, crypto currency part of america's investment. the biden administration, we need to not undermine it. stuart: don't want to regulate them out of business, in a regulated real honest structure.

>> federal government is nimble or subtle in your regulation. you have to be smart about the approach but there ought to be some spending a lot of time needling their way through how to tackle this issue. it is part of the investment infrastructure and need to be thoughtful. stuart: kevin brady, thanks for coming back and will see you again soon. cryptos, the st. louis fed president is warning people about investing in cryptos. >> mostly worthless. >> bitcoin is worthless and going in with their eyes wide open. it is what they should be

doing. in terms of digital coin getting a digital dollar, the ramp in looking ahead how to implement in the us. stuart: reporting on it. >> another federal reserve president, most american households make digital payments easier, reduce counterparty risk and fraud. stuart: if you have a digital dollar, wonder how that will play out against the value of bitcoin. >> very different. >> what is the play out on bit coin prices. >> it will do what it does anyway. decentralized outside government. >> the lockdowns can end up backfiring on governor newsom, the state still dealing with high taxes, high cost of living, very high cost of

gasoline, mass exodus, we will deal with all of that too. first, big theme on the show, house prices, next we are headed to a building site that was put on hold because of rising costs. live report on that coming up next. ♪♪

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stuart: we have come back a bit. we are on the downside for the dow industrials down 12 points, fraction of one%, 34-3 is the level, nasdaq still a small gain 30 points higher 12:45%. as we all now it has been reporting forever the cost of building a home keeps going up. all the components keep going up. it is so bad that in some places they have to stop building, they can't handle these rising costs. we sent brady trouble to one place where building has stopped because of rising costs. grady trimble joins us from illinois. what do you have? >> very expensive hole in the ground. one day it will be a beautiful

house but the costs for the materials are so high that it made more financial sense to put the project on pause and jim frisbie is the man behind his house, why did you decide to do this? it is lumber in shingled and foam and everything you need. >> really everything. when we did this last july it was half the cost what the lumber is now and by the time you add exterior cedar and roof shingles, pvc is up, sheet-metal is up, one thing after another, too expensive to build. >> i assume if enough people do what you have done and say we are going to pause for now prices will come back down. >> i would hope so. that would be terrific. >> not just the cost of materials but also the cost of regulation, the national association of homebuilders says regulation whether zoning approval, government fees, environmental impact studies those account for 94,$000 on a

new house, a quarter of a new house. rising costs for materials and government regulation red tape causing prices to go up as well. stuart: that is an astonishing gain. by the way, just a couple moments from now we get the latest on new home sales. that is a big deal. new home sales. realtors will be paying attention to that one. a year ago then president trump said covid started in a lab in wuhan, china. when he said that it was completely dismissed. the media called in the conspiracy theorist. it is a different story now. even doctor fauci has changed his tune. more varney just ahead. ♪♪ ♪♪

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whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. ♪. stuart: okay. that is new york city. it is rather cool this morning coming in here. that was not exactly hot. it is not exactly hot right now. the empire stayed building though looking as wonderful as ever. 10:00 eastern, straight to your money please. we lost much of the rally in the dow. it slipped just below 34,400. we're holding on to a very small gain for the s&p and for the

nasdaq. the 10-year treasury yield early this morning at 1.58. look at that, now it is at 1.57%. that's down. big tech in response to that lower interest rate looking pretty good except for apple. rest of them, amazon, facebook, alphabet, microsoft on the way up. bitcoin the way down. 37,600 is the latest quote there. latest read on the new home prices for the month of april. ashley webster, there he is. good morning. the number, please. ashley: yes, 863,000. that is certainly short of the estimate of 970,000. there is a trend here, stu, i believe. we saw existing home sales for april drop 2.7%. this latest number on new homes down 5.9%, all from the previous

month. but then you look at you know, permits, housing permits and starts are also down from the highs at the beginning of the year. you could argue with all of these numbers, from the beginning of the year when this housing boom was really taking off, we're starting to see it cool off a little bit. maybe because, i don't know, inventory is down and the prices of homes are going up too much for certainly for first-time home buyers. so, again, this is continueing a trend. stuart: you're right. earlier this morning we found out from one of the surveys the home prices have gone up 13.3% in the past year. that is a massive increase. >> right. stuart: you just told us new home sales moderated came down a bit. ashley: yep. stuart: home prices are way up there. we have reading on consumer confidence for the month of may, susan. susan: real time. a little less than anticipated

117.2 whereas economists were calling for a read of 119.4. again this is deceleration month over month, less than what we saw in the previous month of april. stuart: okay, that is what we've got. no impact on the market. we're still a little bit of green on all the indicators but the yield on the 10-year treasury down at 1.57%. that is the news there. now this. over a year ago then president trump said the virus started in a research lab in wuhan china. as soon as he said that, the trump-hating media said he was wrong. they dismissed the president. called him just a conspiracy theorist. it's a different story now dr. fauci admits the virus may have come from the wuhan lab, he dismissed it a year ago. "the wall street journal" found three lab workers who got covid like symptoms way before the pandemic was declared. that is a little suspicious, isn't it? one more aspect of the virus story that we should be looking

at much more closely. in fact a few things have to be said. america's response to covid was not bungled as president biden says. if there was any bungling it was on the part of democrat-run states that kept the lockdowns going far too long. they bungled the schools. the new york governor, cuomo, he certainly bungled the go back to the nursing home order. president biden did not start from scratch with the virus response when he took office. he inherited the brilliant warp speed vaccine program which more than anything to get us out of this mess quickly and safely. now the where did the virus start question? we really should find out. if it debain in that wuhan lab, we should know, if china is responsible but we probably won't. president biden will let the world health organization to figure it out and they will not be in any hurry to offend their

patrons. biden team walked back trump policies own the border, nuke deal, tax policy, regulation and a whole lot more. that they should not be allowed to rewrite covid history. the second hour of "varney & company" is about to begin. ♪. stuart: there he is. the man with the jacket, bow tie, none other than scott shellady. great to have you back. do you think we will ever really find out if china was responsible? >> well we would find out if somebody was responsible as long as it wasn't china. because i don't think wall street or washington wants the blame on china. if it was a smaller country they would absolutely go after them with sharpened teeth but because it is china they will handle them with kid gloves. i bet this will drag on and on. we're over three million people. you remember we did an interview i was in in december 2019.

stuart i had never been to a communist country like that before in my life. everything was locked down. i thought that was how communist countries were run. everywhere i went they took my picture and my temperature and there was nobody about. they knew. you could fly from wuhan to the u.s. but couldn't fly from wuhan to beijing f it walks like a duck, talks like a talk and smells like a duck, it is a ducks. you know why, this is direct result of what we get as an electorate. when we vote against something rather than for something this is what we get. the platform of the left is just undo whatever donald trump did. this is what we get. so we'll get nothing. stuart: i'm unwilling to change the subject. we're on such a roll there, scott, but nonetheless i will. have you ever, will you ever buy into cryptos? >> i have not. i probably will not.

because it is still, here is my litmus test, stuart, i want to go downstairs after the interview. go out to the city streets of chicago, if there is anybody walking around with one or two people, i want somebody invested in bitcoin. after he or she says they have i would like them to tell me what it is. because i don't think a lot of the investors know what it is. the reason why i say that is this, look how easily it moves around on elon musk says rather than what china may or may not do or other countries may or may not do. when we have fundamental news it doesn't really do a lot but when elon musk has something to say, it does a ton. that tells me who is invested in it. i think that is a different type of investor. i don't think it is safe at all. stuart: i ask you any question at all, we get a fired up answer. i love it scott shellady. thank you for being here. >> thank you,. stuart: another headline for you, from

"the wall street journal" god save the clarence thomas court. he is not chief justice but never before has he had the power and influence he has now. who wrote that? bill mcgurn wrote that in "the wall street journal" today. bill, he joins me now. tell me what cases is the supreme court are going to take up that are particularly important to you with clarence thomas running the court as you say he should? >> well, i think that the changes on the court have given justice thomas some great power that he didn't have before. so it comes as you say in choosing cases, and in outcomes. with the 6-3 conservative majority, for example, the chief justice can no longer side with the liberals and that decides the case. that won't work unless he brings over brett kavanaugh with him. and unless he has the majority, if he sides with the liberals in the minority, then he gives up the power to write the majority opinion. that would go, that decision would go to the justice with the most senority, clarence thomas.

so he really come into his own. to your point, to your question, two years ago clarence thomas was railing against the supreme court for denying these cases, tough cases like guns and abortion and so forth that he said, why the heck do you think they gave us lifetime tenure? so we wouldn't be afraid to do our jobs with these cases. the court was staying away from all those. this year it is taking an abortion case. it is taking a gun case. if they do the right thing as the journal encourages in an editorial today, they will take a case on affirmative action at harvard. stuart: if the conservative, which is now a majority on the supreme court, the liberals will be apoplectic at that the left, the democrats entirely will be, as i said, apoplectic if those decisions come down from a clarence thomas-dominated court. what do you think the reaction will be? >> right. it will be furious. but, let's look at some of that, you know, right now the court is

considering this case about harvard admissions. do they discriminate against asian-americans is? i think it is pretty clear they do. asian-americans have to get a lot higher s.a.t.s. they fail the personality scores consistently in this bogus test. so i think it is pretty clear and you know that would be a hot button issue at a time now when we're pushing racial equity instead of equality. if you look at the public, the public sentiment on this, there was a pew survey showing that 73% of americans, that inconcluded 62% of african-americans, oppose race based preferences for college admissions. we just had, you know, affirmative action racial preferences go down to stunning defeat in two of the bluest states of the country, washington and california. i would encourage justices, they shouldn't be afraid to do their jobs no matter what public sentiment is but i think in this case the public might be more

with them than against them. stuart: bill mcgurn's video is fading in and out. nonetheless we got the gist of what you had to say. bill mcgurn, see you real soon. >> thanks, stuart. stuart: nasdaq is up 30, dow is up 36. tell me about square, susan. i know it's up, anything to do with bitcoin? susan: no, not today. this is jack dorsey other's company, could be offering savings and checking accounts in the future. think of them challenging likes of jpmorgan, bank of america or all the other big bankers because a lot of young people use square and paypal. they don't necessarily walk into their banks anymore. go ahead? stuart: i'm just thinking there is so many -- susan: excited about online banking, yes. stuart: new technology, adopted by young folks, new retail banking, that is the future.

susan: of course. stuart: that is the kind of bank, the bank that people, that the younger generation, not my generation, the younger generation, my grandchildren will be using square. susan: the banks already knew this a long time ago because ma mckenzie came out with a report major competitors to big banks will be technology companies. this should not be a surprise. stuart: a surprise to me that didn't see it coming, don't understand it. nonetheless. susan: instead of going in the bank waiting in line which makes no sense to me. tesla is storing local chinese data in china, to help alleviate accusations of spying, maybe they're spying for the u.s. government. chinese government banned all personnel from buying tesla cars. short seller hindenburg they think faked future sales accounts. future demand. amazon close to buying mgm,

owner of james bond, pink panther. i think i have seen every lame jeff bezos, james bond meme joke yesterday. stuart: not me. susan: you can't unsee them. stuart: amazon, $265 per share. they never split. i don't understand why. they grow bigger and bigger. susan: fractional shares you don't necessarily have to split. also there was a report in bloomberg, just before jeff bezos' report they looked into different classes of shares, ones with less voting rights. that was in the bloomberg report. stuart: i got it. the dow is up 22 points as we speak, that is a tiny fraction of 1%. one school official caught on tape ordering teachers to undergo antiracist training or else. listen to this. >> this is not anymore. we waited for the ruling. if you're not willing maybe this

isn't the right place for you to work. if we're becoming a antiracist school district it just can't be a few people. it has got to be everybody. stuart: all right. attorney general of west virginia, patrick morrissey, he is here, taking on critical race theory. he is next. the white house says it has no plan for vice president harris to visit the border even after seeing this video. congresswoman kim young was just at the border. she's here just ahead. the mainstream media facing a reckoning for calling the wuhan lab leak a covid conspiracy theory. new details suggest otherwise. we have a report on that too. ♪.

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stuart: the white house says president biden and russia's putin will meet in geneva on june the 16th. this comes after the white house lifted sanctions on russia's pipeline to europe. that would bring natural gas from russia straight to the heart of western europe. let's bring in the attorney general of the state of west virginia, patrick morrissey who joins us now. sir, there seems like a putin win and an american loss. i man if we cancel pipeline here and open one up over there, they win, we lose, do you see it like that? >> amen, stuart. over the last few weeks as we've been watching what's going on as the biden administration has been assaulting domestic energy, now there is a deal to help one

of our biggest geopolitical foes? it makes no sense whatsoever unless you believe what we're seeing now is a russia-china first and america last energy policy and i think americans are beginning to get very disturbed that this president care as lot more about the energy needs of russia and europe as opposed to citizens here in the u.s. stuart: can you do it, as attorney general of the state of west virginia, can you do anything about this? >> well in fact we can and we have. we have not only been joining the litigation to try to reopen the keystone pipeline, but more broadly we've gone after the biden climate change policy that really would wreak destruction upon other country. anyone who wants to know what the future of energy looks like in our country should look at the colonial pipeline disaster that happened a couple weeks ago. long gas lines, higher prices, if the biden climate change plan is allowed to continue, we're

going to talk about dramatic spikes in the power grid, cost of energy goes through the roof, loss of energy manufacturing jobs, and it cedes major advantages to china. this is really a bizarre domestic and foreign policy. i think the most people focus on it they will realize something deep is going on here and it is not good for america. stuart: i will ask you if you can do anything about critical race theory. before we get to that, i want to show you this leaked audio, let you hear it, leaked audio, a superintendent, this is in oregon suggesting teachers should quit if they reject anti-racism training, that is critical race theory. take a listen. roll it. >> i want to message to get out there is no anymore, we waiting for the ruling f you're not willing, maybe this isn't the right place for you to work, just put it like that, busway

can grab the future if we're becoming a antiracist school district, it just can't be a few people. it has got to be everybody. stuart: mr. attorney general, can you get rid of critical race theory in your state, west virginia? >> yes, we're pushing very hard that that happens but then separately as you know there are a number of attorneys general who just signed a public comment letter as the d.o.e. is trying to expand the use of critical race theory. the biden education department wants to advance it. we weighed in, say, that is not the purpose of the law and if they go forward with it, we're poised to challenge that in court. so yes, we're going to make sure west virginia continues to teach traditional american history. america is not a racist country and i think for people to keep asserting that it is they want to redefine the whole vision of america, ignore the constitution, the bill of rights

and our amazing history. sure there are always problems we have to address but i think we do better when we go back to martin luther king that tries to judge people not on the color of their skin but on the content much their character, and that is what all of us need to be doing. stuart: patrick morrissey, the attorney general for west virginia, thank you for joining us sir. we appreciate it. >> thanks so much. stuart: then there is this, the national institute of health's budget director right now testifying on capitol hill. lawmakers are likely to ask him a lot of questions about his agency fueling, funneling i should say millions of dollars to the wuhan lab in china. hillary vaughn has the story on capitol hill. do we know, hillary, if more money is planned to go to the wuhan lab? reporter: that is certainly what they will be asked today. francis collins is beginning his opening remarks right now. they're coming to the commit to essentially defend the budget request for fiscal year 2022.

they will face a lot of questions where they have spent the money in the past and where that money has gone. a closer look of the money trail between grant money from the national institute of health to research organizations is coming under scrutiny. one group in particular, the ecohealth alliance actually funneled money to the wuhan institute of virology in china to help them with a china-backed research project. that project has gone on for over a decade. they sent research teams on the ground to trap bats, collect samples and test the samples for coronaviruses. they have collected 400 samples from bats and found granted $3.2 million to fund the project in 2015. another grant was appointed for $3.7 million. the wuhan institute was one of

12 research groups scheduled to receive that money but in the wake of the pandemic, that nih cans he would that $3.7 million grant which essentially meant an end to the china bat project but the president of ecohealth alliance told npr last year that cancellation of the grant money meant the chinese bat project cannot move forward without nih funding. there has been a lot of questions and confusion over whether or not the nih gave money to the wuhan institute. the bottom line is this, grant money from the nih went to ecohealth alliance which then gave it to the wuhan institute for a chinese bat project looking at coronavirus. that doesn't explain or really shed any light on the origins of covid-19 but it does at least tie u.s. federal grant money to this institute in wuhan. stuart: fascinating. hillary vaughn in the middle of

it. thanks very much, hillary. austin as in texas, facing a growing, i would say dire homeless problem. lawrence jones had a look at what the city is dealing with. roll it. >> the guy is walking around with a machete threatening people. he started with bock cutters. now we joke we're the machete capital of texas. stuart: good lord, lawrence jones will be here shortly with more of his reporting from austin, texas. it looked like a scene precovid. we'll tell you why the pga is now apologizing for it. we'll be back.

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stuart: check those markets, one hour into the trading session. we still have green to show you especially nasdaq up 1/3 of 1%. have to show you this as well, vimeo, video clip exchanging site, they went public on the nasdaq and they're tanking. susan tell me what is going on?

susan: investors are disappointed not a lot of user growth from vimeo. this is very good indication not all ipos and unicorns do well on day one, right? you had oatly up 30% on day one. airbnb and doordash last year. vimeo going the wrong direction. stuart, it is down 17%. you may think the homeless problem is limited to san francisco and los angeles. you would be wrong. homeless encampments is surging in austin, texas. lawrence jones had a look at the troubling conditions. he joins me now. >> since over a year i've been in studio with you. got to celebrate this moment. stuart: i don't know how we'll do that. >> have drinks after the show.

stuart: 12 noon, baby. >> switching gears, it is troubling for me. i'm from the state of texas. i have great pride when it comes to the state of texas as all texans do. asaustin is out of the control. part of the feckless leadership, that they don't have to implement the laws on the books. the citizens pushed back. they haven't heard anything about the elected officials. i went there to talk with them about it. we have a clip. let's watch. >> down here you're ready to party. >> we came out to have some fun. >> it's a great town. everybody is safe. >> this is america, it is my home ♪. >> this used to be one of the crown jewels of austin but as you can see, another tent city. >> never been like this before. >> i'm a democrat i learned my lesson. >> i'm freaked out. >> something needs to be done. >> two years ago the city council voted to get rid of a

city ordinance that bans camping on public lands and parks. the result? 11% increase in the homeless. >> we had people robbed. we had a home invasion. >> i was at nabe born's house, we saw them cleaning their guns. >> you found needles? >> we found needle on the floor. i didn't know what it was. i picked it up. >> austin is starting to look like -- >> that is the last thing i want to have happen. >> guy is walking around with a machete threatening people. >> it started with box cutters as a weapon. now we sadly we joke that we're the machete capital of texas. >> this may the city residents got their voice back, they vote ad landslide victory to reinstate prop b. what is the city leadership doing here in austin? >> city of austin lets them do whatever they want. leave needles uncapped where

kids can find them to get sick and aids. >> they are harboring drug trafficking, all sorts of things. we as a people and the citizens are left to fend for ourselves. >> do you want that to be the image of austin. >> one of the reasons i don't like the image because i don't think it is true. >> a guy suck wag around right south side of city hall with a machete. threatening people. that is illegal. that is break the law. >> and we're daling with a tough challenge. >> they voted to defund the police last year and reallocate money. as such officers are leaving at very high rates. >> i think the cause of our illness that is taking over our city is failed leadership. >> i got to tell you i talk with the cops. they tell me they want to be able to enforce the laws but they have been told to stand back. >> my police chief tells me that is not true. >> if i know one thing change is constant. we're going to vote them out. >> we can either escape, run

from the problem or face it straight on and make a positive change. >> you have a commitment to go and engage these members of the public to come up with some sort of solution. >> absolutely. it is my practice. i've been doing that. stuart: lawrence, that is a strong report. who do you blame? >> leadership. when you have tents surrounding city hall, it is against the law currently and they're not doing anything about it, who else do you blame? if the city council won't do anything about it how do you expect the cops to do anything about it? stuart: the city council run by democrats. >> all democrats, one republican. stuart: you're blaming them. >> i'm blaming them they decided they didn't want to enforce the law. the community pushed back against it. austin is not a republican town. these are democrat residents saying we don't like what is happening. we don't like our kids having to pick up needles at the park. we don't like people attacking us with machetes.

a lot not reported there is sex trafficking done within those encampments. the city provides needles to the people. provide drugs to rehabilitate them, when they overdose they give them the drugs so they can get back, be revived. so you're setting a climate of lawlessness. this is not helpful to people. austin doesn't have a money problem. they don't have any state taxes, they have a balance budget. they can give people resources they need. they're just not doing it. stuart: lawrence, that was quite a report. thanks very much for coming back to you. >> thank you, brother. a drink after the show. stuart: be careful, lad. thank you, lawrence. now this, we brought you the story of that ryanair plane hijacked near belarus. they wanted to detain a journalist. they got him. now the journalist is speaking out. arcly is with us to tell us what that guy is saying. ashley?

>> whatever belarus wants him to say. apparently for the first time since his arrest, roman appeared in a new video admitting to organizing mass riots last year in the city of minsk. his supporters believe the video was made under duress. let's be honest, he is one of dozens of journalists campaigning in exile against belarus president alexander lukashenko. he was on a flight from greece to lithuania. at last minute it was diverted from belarus traffic control to minsk. he says he will he will belarus is accuse of piracy and there were agents on the plane. ' they had mat the unscheduled stop in minsk suggesting that

they were occupied by secret agents. what a story, stu. stuart: bizarre in the extreme. thanks very much, ashley. california is starting to open up and a recall election to boot. we have a live report from santa monica right after this. this is andy, my schwab financial consultant. here's andy listening to my goals and making plans. this is us talking tax-smart investing, managing risk, and all the ways schwab can help me invest. this is andy reminding me how i can keep my investing costs low and that there's no fee to work with him. here's me learning about schwab's

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♪. stuart: the great and of course late tom petty. great song. you're looking at santa monica, the pier no less. lovely place to be. 64 degrees and sunny. there you go. look, california has huge problems. they have got the exodus. they have got high taxes.

they have got a poverty problem and they have got a recall problem. well our own connell mcshane is in santa monica, california, very nice place to be, he gets all the cushy jobs. there he is. he is talking to small business owners and what are small business owners saying to you, connell about the state of california? reporter: they're trying to dig out of this hole, stuart economically. it is such a big hole. unemployment in the state is very high, 8.3% the last reading. only hawaii has higher unemmoment rate than all 50 states. you mentioned small business, this is quite a stat, of all the small businesses in the state, the number of businesses is down by 39% compared to how many were in january of 2020. there is a light, we should say appearing finally at the end of the tunnel. big day june 15th, when the state finally reopens fully. some of the business owners not

quite ready to pop the champagne just yet. take a listen. >> we're not out of the woods. everybody is happy, we're ready to go, let's go but we have a lot of ground to make up. >> we're waiting for june 15th, the magic day. maybe the unicorns will start flying around here. who knows. reporter: a little sarcasm you can probably detect there. the political backdrop, governor gavin newsom is facing a recall vote t will happen sometime later this year. his plan to counter the recall, spend, spend a lot of money, $200 billion on a massive plan includes more stimulus checks for californians. we sat down with the former mayor of los angeles, an known yo villaraigosa who is democrat to give them another option. we talked to him about the state of the economy lear. >> we need to focus on getting people back to work because when i hear the economy is doing

great and the unemployment rate is still high, that means it is doing great for some people but not for everyone. reporter: i will say, stuart, villaraigosa was critical of some of newsom's policies. he says the schools, restaurants especially outdoors stayed closed for too long. when i asked him if he plans to run again, he deflected the question, saying he is not focused on the recall. back to you. stuart: why am i not surprised. connell, thank you. remember we showed you the crowds at the pga championship this weekend and sell breaks. we loved it. now the pga is apologizing. not apologizing for the crowd but the crowd being out of control presumably, right? you watched as soon as i did, and they were out of control. the pga apologized for the out of control crowd, during the 18th hole of pga championship, phil mickelson and

brooks koepka were not protected, swallowed up by the crowd at the 18th green. pent-up emotion, you could feel it, fans were overwhelming security, making two players around caddies feel vulnerable. phil mickelson called it a little bit unnerving but also awesome of course but he won. but his playing partner brooks koepka, not happy, that his injured knee took a few dings in the the in melee, that it was not his idea of fun. you will see more security when it comes to the 18th green. a lot of things, pent-up emotion, phil mickelson, all those things coming together. you can understand it. stuart: a raucous celebration. i loved it. sorry about the danger to the golfers, caddies but i loved it. thank you, sir. prince harry, here we go, dropping more truth bombs he calls them about the royal family. watch this. >> i you thought my family would

help but every single ask, request, warning, whatever it is, just got met with total silence. stuart: nigel farage will be here to react to that moments from now. vice president harris has no plans to visit the border after seeing this video. we'll take you down there. we'll have a live report from bill melugin at the border after this.

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stuart: the flow of migrants crossing the border shows no sign of letting up. now the house border security caucus is getting a first look the at an emergency intake facility there. bill melugin at the tex last border town of hill dal go, the lawmakers are blasting vice president harris for not going, is that accurate? reporter: good morning to you. that absolutely is. the congressional dellgation was led by texas republican brian babin. they toured facilities in el paso, they had a message for kamala harris, if you're going to be the border czar you need to look what is going on here. they took issue with the administration repeated claims

the border is closed. no, you guys need to come to the border to see it is not closed. we're here in hidalgo in the rio grande valley. we have video we shot in la jolla, texas. the line goes back pretty far with the drone camera. a large group of migrants walking into the united states, giving themselves up to the border patrol. these are family units, a lot of young kids with them. they are not trying to run away. the border patrol says these families are from romania, ecuador, guatemala. we shot this video hour 1/2 ago, right down the street from us, a group of guatemalans came across the border, they had got apprehended in a patch of brush next to a u-haul store. i had a chance to talk with one of the young men backin the back of the border patrol vehicle. orlando, a 23-year-old

construction worker. he came here because of poverty in guatemala. he paid the coyote $10,000 to get here. this was his fifth time trying to get into the president of the united states. this is a message for joe biden. [speaking in native tongue] reporter: unfortunately for him his chances of being able to stay in the u.s. are not good. almost all of the single adult men coming from el salvador, gaut ma la, honduras being deported sometimes within a matter of hours after crossing into the u.s. send it back to you. stuart: bill melugin, thank you. we'll see you soon. let's bring in congresswoman young kim from california republican. you have gone to the southern border. you're from a sanctuary state. how do you feel what looks like a open border with people coming into your sanctuary state.

>> so you're right, i visited the border in my home state in california and southern texas and the crisis on the border is real and it impacts americans across the country. it is not getting better because migrants being released. >> our all across america into l the communities. this is biden open border policy that created more migrants coming across the country and this, this isn't just a border issue you. it is an american issue. and what is more alarming is that i saw piles of drugs, like fentanyl, meth, cocaine that were seized by cbp. that is more than we've seen this year than in all of last year. and we are on pace to reach a 20-year high in illegal border crossings by the end of september. this crisis is seriously undermining legal immigration and i've seen it with my own eyes at the border and drug

cartels are the only winners. they are taking advantage of the vulnerable migrants, straining our resources to keep the border secure as border patrol agents become caretakers. i've seen the security crisis, humanitarian crisis and health crisis not just from covid but more drugs being smuggled into communities across the country but yet president biden and vice president harris yet to go down to the border. i keep urging them to get down there to see the crisis first-hand. stuart: do you think they want to be seen on the border whether the president or the vice president? do they really want to go to the border and take responsibility for what's coming across? i don't think they want to go anywhere near it. >> they don't want to take the responsibility, one, i think they do know that we have a crisis. the fact they will go down there not being able to do anything about it, or don't want to do anything about it because they want to keep the borders open is

probably the reason why they're hesitant going down there. they need to go down there to come back. let's put our hats together, sit down, come up with a common sense immigration reform that will increase legal immigration. stuart: congresswoman, please keep the information coming. we would love to hear more. congresswoman young kim, republican from california. we'll see you again real soon. thank you very much. >> thank you. stuart: another big hour coming up. for you we have martha maccallum, nigel farage, the manager of the yankees, aaron boone. ♪. (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first.

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change i don't think wall street to washington wants to blame it on china. the platform and a blessed is on do what donald trump did. >> currency as part of america's investment infrastructure. >> we are seeing a disconnect from the economy and stock market. the economy is ready to go full force ahead. it is up to the politicians in washington and governors of states to let it fire. >> standard & poor's came out with her first quarterly

numbers and put it all together and drum roll, it was extraordinary. ♪♪ stuart: good morning. it is 11:00 eastern time, tuesday, may 2, '05, to the market. very modest gain for the dow industrials as we speak. we are at 9, s&p up two. nasdaq up 43. bitcoin and the rest of the cryptos on the downside today, crypto, bitcoin, 37-8, down $1,800. we have ethereum down a couple hundred points but cryptos down, stocks up. now this.

in america today it is free speech for some but not for others. a few months ago florida governor rhonda santos held a roundtable, medical experts discussing children wearing masks. at one point the governor questioned the need for youngsters to mask up. youtube took the video down on the grounds that it was spreading medical misinformation. the governor had stepped outside the bounds of what corporate america considers acceptable speech. youtube censured him. desantis doesn't retreat from a challenge coming immediate head on. he just signed legislation that allows florida residents to sue if they are censored. social networks would have to detail why they did it. this is real pushback and it is long overdue. there is a big tech corporate media collusion going on to force us all into the same point of view. a liberal point of view and you've got to go along with or

be censored, excluded from the debate. there is an obvious political angle here. rhonda santos is a republican, texas has a republican governor, that state too is looking to challenge censorship. no surprise. republicans, conservatives, trump supporters are the people, the opinions that are being censured. we can't allow monopolies to tell us what we can say and what we cannot say. why is it okay for twitter to allow tweets containing hashtag hitler was right or hashtag covid 1948, that refers to israel's failing as if israel is a virus that has to be eliminated. time for them to explain why that kind of hate was not censured. third hour of "varney and company" is about to begin. she is back, martha maccallum joins us at 11:03 this tuesday morning.

i think it is time to push back on these people, they are trying to force us into an intellectual straitjacket. think like this, talk like this or else. >> you make a point about rhonda santos, he is allowing businesses that were shutdown or censored to sue as well as social media examples you talked about. freedom of speech is freedom of speech. prince harry in england is not sure what the first amendment means, there's an appropriate uprising to push back on this, with the mask issue, they took it down because they said it is medical misinformation. not many months prior to that, masks would not be effective. there is a dogma, a religion

around, that everyone must ascribe to. you are evil and banned from twitter. it is amazing to me, a lot of look back, learn things we didn't know before and maybe masking falls into that category. not saying people should never have worn masks in many situations but there's a lot we are still learning about all this. give the guy a break, let him say what he want to say. stuart: this is the united states of america and we are shutting people up talking about kids in masks. you know what is coming. moderna says the vaccine is safe and effective for 12 to 17, some colleges are mandating you get the jab before you come on campus. will we see the same thing in high school, with moderna's

vaccine being effective? >> i'm of two mind about this. there are certain vaccines you have to have before you can enter and that has been the case for a long time. there are religious exemptions for those vaccines, you will see a lot of compliance with this when people head back to school but a lot of kids had covid. rant all's argument is if he has the antibodies, don't feel is necessary to get the stop, he feels that his protection, a lot of students have covid who feel that way. the freedom of choice arguments, going to the courts. stuart: this is america. it will end up in the courts. we will be watching you at 3:00 this afternoon. senator rand paul is on your show talking about the death threat.

>> a terrible death threat, white powder in it, we will talk about his reaction to that. the criticism that came on twitter against him. an excellent point about this horrific anti-semitic twitter hashtags, and i never thought i would live to see the day. you can say death to america but other people get band. stuart: thank you for that. we will see you this afternoon. we are headed south of the s&p and slightly higher for the nasdaq. the video exchange kind of

thing. and the selloff and a half. mike murphy is with us this morning. you are not buying ipos, you wouldn't touch any ipo the day of its debut, would you? >> the markets have a good way of correcting themselves. what you have seen in the past is look at coin base is a recent example. it came out double the price it was expected so you sitting at home, in the public markets, $430 a share. came all the way down to the 250 range. it is not running higher. it is trading lower. the market is telling you people like myself, i would

rather own the larger publicly traded tech companies but this will drive people in who are price sensitive, there will be a price for the company gets bought. stuart: if someone comes to you, if i have fresh cash, would you tell him to put it in stocks or cryptos? >> stocks, 100%, is not the hedge funds or big banks that will get hurt potentially in the crypto but individual investor. i can show you 100 years of returns and what the market has averaged. and what the market owns. consider the program talking about how to locate your money to the stock market for today's

processes. you can't do the same with crypto. ethereum, this new moonshot, dogecoin, they made a lot of money for themselves and hats off to them. people watching at home today think i should sell my 401(k) and put it in crypto currency because that is the get rich quick scheme right there. that will end poorly. don't know why anyone would need to invest in crypto. i didn't buy on the pull back and won't be by in on the pull back, the stock market works, crypto i hope works for people who own it but i'm not sold. stuart: nicely wrapped up, mike murphy, tell us how you think. thanks for being here. what have we got, bitcoin at 37,$000 a coin. you've got to come in here. must send out week, bitcoin moves higher. take me through the story.

>> conversations in the crypto world, the electricity use but the undisputed whale of crypto, elon musk rallies bitcoin from the bottom on sunday, a theory was up in the entire crypto space saying bitcoin minors, they committed to current and planned usage and ask what to do so promising. test and other companies might put aside their climate conscience and use more adoption micro strategies, $5 billion in bitcoin holdings hosted between elon in north america on sunday and that is all cryptos need to hear. we are up 40% from sunday morning, bitcoin was the breakthrough, back to 39,000.

all the cash right now shaking with high leverage, according to one analysis, 100-1 in crypto markets. stuart: did you say there is bitcoin or crypto meeting conference of some sign in miami? >> june fifth, sixth, it is going to be interesting. everyone is excited. stuart: any headline out of elon musk will affect the crypto market and you will be right there to report. nice trip too. what else if we got here? we've got the yankees manager aaron boone joining the nft craze. we will talk about that and cryptos n-dimensional two about baseball, the yankee manager coming up. we showed gretchen witmer caught breaking her own covid fools, now she's cracking jokes

about it and have the clip for you but first queen elizabeth reportedly upset about press harry's interviews like this one. role tape. >> we did everything we could to carry on doing the job. but we were struggling. we are stuck in this situation. stuart: nigel farage says prince harry will not be wanted on either side of the pond. he will sound off next. ♪♪ some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

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>> i thought my family would help but every single ask request warning whatever it is met with total silence or total neglect. we spent four years trying to make it work. stuart: queen elizabeth is deeply upset about harry's criticism of the royal family. nigel farage joins us right now. he is planning more of these truth bombs or whatever you call them. will brits ever take him back please? >> know, he is yours. he is our most recent export to the usa. i don't want to see him back in the united kingdom. americans will see through the victims's story as well. every claim he makes, tried hard to make it work before we

left. in negotiations for the couple. and and it was a life of extraordinary privilege and a life of hard work as well. a big working royal will do 300, 400 engagement every single year. what is clear is harry and megan did not want to do the work. i have no sympathy for them whatsoever. stuart: glad you got that out there because i feel the same way. i want to talk about the new restrictions the british government is quietly reintroducing, new covid restrictions. the government has this guidance online and warned against meeting doors and traveling around in covid hotspots.

it seems like despite britain's success with vaccinations they are going backward on restrictions. >> it is extraordinary because we have a phenomenal vaccine rollout and high take out rain and new indian variant around but we are assured the vaccine is effective. somehow boris johnson everybody thought was a journalist or some libertarian figure that suddenly is behaving like a big state socialist in the extraordinary thing is this. the government advertising campaign into the hearts of people, at the moment people accepting all of this. i don't understand it. we should be out there and life should be back to normal. our daily death figures are much lower than suicides or even rape deaths. stuart: i see a parallel between britain and america. on both sides of the pond the media has given us a lot of

fear, a lot of anxiety. making us all worried all the time, the next spike or this variant or that. is it the same on both sides? the anxiety factor is played up by the media. >> absolutely. i am in arizona this morning speaking to you, people getting on with their lives, the british government's advertising campaign terrified the brits even more than americans have been scared and from what i always thought my home country was a freedom loving place suddenly a majority seem to be accepting this. i don't get it. stuart: don't think you have your green card yet but you might think about it. i would sponsor you. i could. i have no clout but i could do it. i know you are in arizona. come see us in new york, see you later. now this.

the brits proposed new tariffs on american exports to britain. ashley, what is this? what do they want to hit with tariffs? ashley: the most important things in life, chocolate and lobsters. they could face new tariffs under proposals by the british government on an ongoing trade conflict that surrounds steel and aluminum or alimony him, they introduced 25% or 10% tariffs on steel and aluminum which prompted retaliation from the eu and continues to include the uk but britain's trade minister says his aim is to de-escalate the dispute with the us and find a negotiated solution that removes tariffs on wine, chocolate and lobsters. stuart: get on with it because the brits need trading partners now that they are out of europe. thanks.

a very interesting number on your screen. yesterday -- what is that? sunday? monday, it went to monday. 1,863,000 people passed through tsa checkpoints on monday yesterday, back one year ago on the same day, 267,000 so travel is coming back big time. the airlines are doing very well. look at united for example. they say their domestic leisure fares are higher now than they were in 2019. expect that to continue? the stock is up 3.5%. hawaiian airlines trying to hire 400 people to keep up with big travel demand offering up to $2,000 in sign on bonuses. that stock is up, can't find workers in the travel binge. we told you about gretchen

witmer getting caught violating her own covid rules. if that wasn't bad enough she's cracking jokes about it. what did she say? ashley: she repeated her apologies for violating her own social distancing rules at a restaurant in east lansing, the photo showed her with 12 other people gathered around tables pushed together in complete violation of state health rules but governor witmer avoided saying whether that very restaurant should be fined as other facilities have been for breaking covid 19 guidelines. by the way she did give a plug. listen to this. >> i don't know there's a lot more for me to add at this point other than those former spartans, you're a spartan for life who know the establishment, should be aware it is now a restaurant and pretty good pizza. ashley: that said michigan is eliminating the restrictions

the governor violated that say restaurants, bar tables must be limited to 6 people with each table being 6 feet apart, that rule goes away june 1st but the governor says that decision was made before she violated it this past weekend. i wonder. stuart: nice out? that was good. this one. one of the stars of friends, matthew perry, is under fire. there are some who say his new clothing line is insensitive. we will explain what insensitive is and how it matches up. texas wants people to carry guns without a license or a background check. we will show you what that is doing to gun stocks in a moment. ♪♪ ♪♪ deep in the heart of texas ♪♪ the oil wells ♪♪ are full of smells

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>> new york city, 65 degrees. on the cloud so far, texas has updated its gun carrying laws.

what is the update, what changes are they making here? >> texans will soon be allowed to carry handguns, background check, state lawmakers approved a bill to lift some of the remaining can carry restrictions in texas. governor greg abbott says to sign it into law. and law enforcement groups, and federal background checks required for some purchases. they can bang guns on their property. the nra calling this the most significant gun rights measure in the history of texas. >> >> situation stocks down.

cryptos also down. cryptos are down. they are all down now. you are saying we are going to have a summer rally. make your case. why and how big and which stocks lead it. >> may 17th, squarely behind us, retail investors, what they have in their bank accounts to invest after paying uncle sam and i will give you 2 observations of mine in the last few days and the conclusion for each. first off i had my first in the office meetings yesterday with people that came to my office without a mask. i felt like a grown up again, without looking at people through a zoom call. almost a panacea moment that we

are starting to get back. secondly, as you know as well as i do, you walk around the streets of new york it feels like we are back. saturday evening i went on a 6 mile walk through lower manhattan, observations along the way, i saw throngs on every single corner trying to help taxis and ubers that of which were available, restaurants and other places packed. at 9:00 at night i found myself in the center of washington square park, alongside squirrels. you would have felt you were in woodstock with what was going on. spending on stuff is going to stop and decline. people will shift to experiential travel. we will get to this instagram moments, to see things, that is

a boon for travel, particularly in competitive industries like wall street. people will be getting back on planes, racing up a few points, they are going to drop everything and get on a plane. stuart: business travel the main stay, will it get to the same level it was in 2019 or better? >> we will get there much quicker than people think if we are competitors, and clients across the country. if you jumped on a plane to visit his client in person, and shake it that way or am i going to get on a plane and make the trip. when kids go back to school, and when they get back to the

office, they are going to see a pickup in business travel. from leisure travel i was trying to book a rental car, rental rates for a car were $1,000 a day. shortages going on in that. and they are ready to go out and see a big boon. stuart: greg smith on the ball, see you again soon and waiting for the summer rally. here we go. ohio's $1 million vaccine lottery program. if the lorry got more people to take the jab. ashley: it did. mike dewine announced $1 million lottery prizes for

adults, 5 scholarship teams, and the promotion worked 2.7 million people in the states, registered for that. for the scholarship drawing, some impressive numbers, the plan did draw criticism from lawmakers on both sides of the aisle for using federal pandemic dollars for a contest but the white house has signaled its support and is proven to be very popular. stuart: if it works don't you want something that works and this obviously works. one of the stars from the show friends slammed for selling vaccine merchandise. matthew perry we are talking about, what is the problem with the merchandise.

ashley: some fans not impressed, touting this merchandise, shows a black t-shirt emblazoned with the chandler risk question. it is a funny line, ahead of the reunion, with twitter and instagram, doctor linking the reunion special. the pandemic killed 3.4 million people worldwide, bad taste but perry isn't talking with a t-shirt unveiled a line of merchandise, selling sweatshirts and items for kids as pets in his online shopping store. capitalism with a c. stuart: are you tired of video calls? two big banks think they have a

solution for zoom fatigue. not just lumber, regulations, fees could add more than 93,$000 to the price of a new single-family home. we will deal with that in a moment. ♪♪ ♪ ♪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♪

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♪♪ stuart: chicago you are looking at where it is 79 degrees and partly cloudy. that is chicago. the cost of a new home keeps going up, new government

regulations and the rising cost of building materials, grady trouble at a construction site in illinois where the project was put on hold because of rising costs. is that accurate, grady? that building site on pies because of the rising cost of building, stopped building. >> if lumber prices words so high you would see a crew buildings his house behind me but they decided to go for 6 to 8 week pause because not just lumber but all sorts of construction materials are through the roof. jim frisbie is behind this project. of these prices substantially dropped overnight you would get back to it, right? >> absolutely. the carpenter is ready to go but prices being what they are we put this on hold until something drops. >> reporter: we saw home sales drop from march into april. could that be because a lot of people are putting project on hold? >> some of that is going on. several other people have stock

projects, builders and custom homeowners put on hold before this one because they got to the point they said enough is enough. >> you mention the cost of government regulations at all levels of government, the national association of homebuilders came out with a new study and here are the numbers, they say the cost of regulation, government fees, environmental and traffic impact studies of gone up 11% in the last 5 years so add that to the cost of material and you have an immediate issue with the material costs and this long-term issue where we see these redtape costs going up and up and up as well. not a good recipe when you are in the homebuilding business. stuart: you build it and they are coming to buy it but you can't build it for all kinds of reasons. that is the problem. good stuff. we've got air b&b on your screen, no change.

they announced big updates. not sure what this is about. ashley: air b&b announcing more than 100 new changes and updates to its platform to allow more flexibility is travel rebounds, adding 3 new search options including flexible dates, destinations and listings. for example the flexible matching feature will show options just outside users search parameters. it will appear in the search even if more expensive for a few miles outside the original range perhaps giving more options. the company also launching a faster checkout process, updating review systems and clearer cancellation policies. bookings in the first quarter for air b&b were up 39% from the previous quarter and up 13%

year-over-year. travel is picking up. stuart: what is this about cutting up on zoom calls? there is another reason. ashley: they call it zoom fatigue. the endless parade of video calls. they set aside a day of the week, not expected to be on video calls. in a moment of fatigue tied to video calls, excessive gazes at the screen. senior self reflected back to you by many hours a day being tethered to one physical location for standard periods of time.

and and >> i stay there for 3 hours a day. remember this. i am showing you cardboard fans which used to fill empty sporting arenas. that may be a thing of the past. we've got the full list of those stadiums at full capacity coming up for you. the manager of the new york yankees aaron boone jumping into the world of nfts. we talk about read horror sports memorabilia market and might squeeze in some baseball. aaron boone is next. ♪♪

stuart: busch stadium in st. louis with the appropriate music where the cardinals play, 79 degrees and sunny. the houston astros at home

games, are we talking full capacity? >> the astros will i hundred% attendance and will remain that way for the rest of the season. astros will not require masks, they will be encouraged to wear them and provided with them. boston red sox will allow private -- full capacity at fenway park on memorial day weekend. cleveland indians beginning june 2nd. texas rangers play to 100% capacity in the atlanta braves on may 7th, the first baseball team to go to full capacity full time, the diamondbacks, nationals, twins, phillies, brewers all have announced plans to go to full capacity. play ball. stuart: can't wait. i want to hear fans cheering in the stands.

sticking with sports nfts, nonfungible tokens gaining in poverty it -- popularity. there is a new platform called athlete direct allows coaches and players connected directly with fans. aaron boone joins us, manager of the great new york yankees. i know you are involved with this athlete direct program. what does it have to do with nfts or cryptos. >> i never heard of nfts until brandon brought them to my attention and it is an exciting thing, augmented virtual mixed reality. i live details to brandon in his capable hands and it is another way of better connecting athletes with their

fan base. we've seen all these platforms and ways of connecting with fans in interesting ways and this is another one of those. these are always where fans get their hands on memorabilia from the athletes in their personal collection. stuart: it is a way for athletes to make some money, isn't it? >> brandon says got to make a little money doing this and as athletes, manager and coaches, things discard, so many people out there take an interest in value, that certainly happened on a daily basis and we are trying to hang on to those things and create value. stuart: it is a whole new world out there we are just discovering. are any of your players or

managers asking to be paid in crypto currency? >> definitely a big conversation in our clubhouse from time to time. a lot of staff members following bitcoin each day. my bitcoin is down, up, this and that, these things are definitely real and sometimes we joke but a lot of times they are saying give me some of your bitcoin. stuart: have you invested in any crypto? >> i doubled a little bit but i leave that to my guy who does my investments for me but a little bit. stuart: have you done okay? >> done okay. stuart: let's talk baseball. i think we should. we heard the nine vaccinated

players and staff on the yankees team tested positive for covid this spring. tell us how they are doing now? >> most all of them are doing very well. one of those was a player, the rest were a few coaches of the few staff members of the traveling party so all vaccinated. all but one are now back with us. for the most part symptoms and stuff were very mild if not at all. a couple guys, a little more serious, definitely on the up and up. definitely a little bit of a scare, into a little bit of the turmoil the last couple weeks. we have continued to win games along the way. stuart: a 6-game winning streak. will you tell us now categorically that the yankees will win the world series? >> i will leave that to you. we certainly think we are capable of competing for that. that is our expectation, our goal but we have a long way to

go and hopefully we can be the last team standing. stuart: i thought you would say we are going to win. what are you talking about? get out of here. i thought there would be the new york response at your diplomat. aaron been, pleasure having you on the show. we wish you the best of luck with the athlete direct program and your own crypto investments. see you again soon. tuesday trivia question. what was the first feature-length animated movie ever released? i got this right. the real answer after this.

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stuart: we asked you before the break, what was the first feature length animated movie ever released? the answer is, snow white and the seven dwarfs. i got that right of course. i i can't believe it. back in the 1930s. that is when it came out. my time is up. look who is back? neil himself. great to see you, neil. neil: thank you, stuart. let's say i don't get mail like you. i guess that bond with yours that i don't quite share as you do but thank you anyway, my friend. i will illustrate what i was telling stuart about, thank you, again, stuart for that. but i do want to thank my colleagues and friends, david asman, jackie deangelis, ashley webster, apparently filling in white well for a many of you. darn, tell me