maria: thank you, great to see you both this morning. have a great wednesday. that will do it for us. "varney and company" begins right now. stuart: good morning, wednesday's money story, stocks up, cryptos up, meme stocks up and interest rates down. wednesday's political story, china the boule after they force a groveling apology from the hollywood actor will they use their money and clout to cover up the true origins of the covid pandemic, we will cover all of it. the dow within one% of its

all-time high, at "the opening bell" this morning, the s&p also very close to an all-time high, higher at "the opening bell" and the nasdaq up 45 points, one third of one%. treasuries yield down one.56%. it is up from the last trade, 156. lots of talk about inflation but long-term, we are not seeing things, game stop and amc showing big gains this morning. sure looks like the redit gate is piling into what we used to call meme stocks. cryptos, bitcoin at 40,$200 is where it is right now on the day.

ethereum hit $2,800 a coin earlier. that is where it is right now up on the day and i've got doge at $0.34. stocks up, cryptos up, meme stocks up, interest rates down. doctor john seen's apology for saying taiwan is a separate country. you will hear it later. he was apologizing for telling the truth. we will be asking of china will use its power to influence the investigation of the wuhan lab. travel roaring back, the tsa will hire an extra 1000 people to handle all the extra airline passengers showing up at airports, 1.47 million travelers, one.8 monday but still way up there at a high level. not quite back to 2019 levels but close. it is wednesday may 20 sixth

2021, "varney and company" is about to begin. there is this. senate republicans are preparing a counter offer to president biden's $2 trillion infrastructure plan, the counter $1 trillion, they present their counter tomorrow. fed funds allocated for covid relief. the counterproposal was in. senate banking committee hold a hearing on the oversight of wall street firms, all the big names in american banking taking the stand today, they have to defend capitalism, starts at 10:00 eastern, we will bring any headlines we received.

straight to your money, a little green on the board for the dow, the s&p and the nasdaq. mark tepper is with us. i will say the same in, cryptos up, interest rates down. should be a good day. >> if you think of it, the 3-page risk to the market, you mention interest rates but taxes as well. inflation for the time being seems transitory, the market is less concerned about it, they are coming down, but taxes, that is a big issue in the second half of the year, should be a big day. in the second half of the year higher taxes become a reality. stuart: you are on the same page as most of the analysts,

stocks should go up but come the summer may be a hint of inflation, that is when the turning point comes. is that where you are. >> the biggest issue is taxes. projected earnings growth in 2022 will project 15% earnings growth. as soon as you at the biden tax hikes it will drop to 8% and that is not being priced in right now. it will be a bit dicey. to sideways for a while. all the bull markets since 1932, the average in the first year is just shy of 50% but in year 2 it is 10.6% and already up 12% this year. i do think the market will be dicey in the second half of the year. stuart: are we underestimating the return to work, the return

to travel? we are coming back to work and traveling and getting out and about in droves. underestimating the trade. >> not at all. we probably overestimated the reopening trade. we can talk about the reopening trade until blue in the face but a lot of those stocks are at all-time highs. i talked to you about this last week, we are looking for those reopening stocks where there is still room to run so united airlines would be an example. it is roughly 40% off of its pre-covid high compared to southwest airlines which is at an all-time high and the reason is southwest is domestic and leisure travel which has rebounded but looking at business travel that is down 80% and international travelers and their so united is where they play and those should be

catalysts for stock like that to run. >> we are looking for 30% or 50% gains in a couple months. thanks for joining us, see you soon. let's get to cryptos. bitcoin a few moments ago back to 40,$000 per coin. a week ago it was 31, 32, 39-7 right now. ethereum has gone up 10% in the last 24 hours, i have 2815 is your ethereum quote. >> 40% from lows sunday morning. how about light corn at $199, that too up from earlier in the week. >> sunday was ugly. stuart: doge, $0.35 on doge,

very good thing. cryptos up this morning but susan, what is this about china intensifying its crackdown? >> a message as well. what sparked the selloff in crypto currency so, a lot of bitcoin money is done because there is cheap electricity subsidized by the chinese government but bitcoin mining will be cracked down upon, chinese authorities say we will punish companies, individuals, that is wake-up call for minors, they could lose their licenses, cloud companies from lucrative government policies. electricity is high when it comes to that, argentina around the world. environmental concerns in their own borders.

stuart: cryptos are all up this morning. i didn't know the capital of mongolia, you knew that. the doubt, futures up 55 on the dow, some green. i see royal caribbean moving this morning, one of the cruise lines. it is up nicely. what is the story? >> first cruise line operator gets cdc approval to test sale from the port of -- stuart: miami? >> be could is a main hub of where cruise lines operate. a big business story, cruise lines can resume full passenger sailing if 98% of crewmembers, 95% of passengers are fully vaccinated. you want to get through that? >> americans, where the down area.

twice as much in the first quarter of the year. and 3 times more money than wall street estimates that urban -- will michael coors, cup 3. and and abercrombie and fitch, will and a youthful retail, and will >> they are spending big time. >> it is official, what we've been reporting for a few days, amazon has reached a deal to acquire mgm studios, they will pay $8.45 billion, they get the james bond franchise, the pink

panther franchise and amazon keeps getting bigger. stocks up $15 premarket. >> are you okay, jeff bezos just bought james bond. for amazon it is a big deal for their streaming because they are paying a lot, $10 billion. stuart: paying a lot of money building it up. the latest read on mortgage apps down 4% from a year ago and refine down 9% from a year ago. home prices rising, interest rates edging higher. john pena apologizing for calling taiwan a country, you can't do that. why does hollywood keep bowing to china? we are after samantha is at the top of the 10:00 hour in my take. president biden getting ready to meet with vladimir putin in june. just lifted sanctions on their pipeline. why are we cozying up to

russia? alexandria ocasio cortez expressed support for the palestinians, condemning anti-semitic headlines. does that satisfy the only jewish republican congressman lee zelda in. he is on the show next. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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one.57%, big tech usually likes lower interest rates, and our bed, all of them slightly higher. alexandria ocasio cortez condemning anti-semitism. here's that sweet. we will never tolerate anti-semitism here in new york or anywhere in the world. and we join you in condemning this violence. congressman lee zelda is the only republican jewish member of congress, are you satisfied with her call to stop anti-semitism? >> satisfied, no. if this is what you're going to commit to 4365 days of the year, you need to confront the fact that there is a lot of her

own base who are committing these acts of violence. the anti-semitic violence comes from the right, recognize it is coming from the right. when it comes from the left the condemning whether it comes from the right or the left and the other thing is all the policies going after his real, supporting the bds movement, and pours gasoline on that fire, that this fire is on our streets. is that a start, there's a lot more to do to get this right. >> the headline raids, and every synagogue in america. that was written by the times

star columnist tom friedman. he is admitting in that headline the democrats are split on this. >> democrats are split on this. there's a lot of equivocation in there, and the attacks on his real. there is a clear bias, to get further left on this issue rewarding hamas terrorists by granting unilaterally palestinian state with the way the advocacy is saying blinken on his way to israel in the middle east should be more publicly recognizing we are going to be putting this action for a palestinian state award always rockets fired indiscriminately at israeli citizens. he points out in one paragraph,

the centrist democrats would bring up the point but i raised because that is reality. it is unfortunate, he was not shooting straighter in that but it is true there is a rift in the democratic party, debate and i sure hope those who get it will step up and be powerful, strong voices to make sure you are knocking out the far left aspects of the party but what we are witnessing in many respects is the far left part of the party, the boycott investment and sanctions movement, the anti-semitism on college campuses, the rhetoric and policies towards israel and existential threats around it, it is growing more legs and that is greatly concerning? stuart: you want to be the governor of new york. i know you're running. can a republican win a statewide election in the

bluest of blue states except perhaps for california? >> absolutely. new yorkers hitting their breaking points, looking at a state like florida, money goes further, people feel safer, living freer, here in new york watching attacks on their wallets, safety, freedoms and hitting their breaking points, and geniuses in albany continuing taxes, they created the highest income tax rates for many new yorkers that you will find in the country to pay for a multibillion-dollar fund for people in the country legally, for the next act talking about a $0.55 gas tax hike increasing propane, home heating oil and natural gas, the tax policy, lack of support of qualified immunity, quality of education, critical race theory and so much more. this isn't just about republicans and conservatives

feeling this way. it is time for him to go. new yorkers realizing that, ones size, one party democratic rule of supermajority democrat assembly with outsized powers, and and we will win because we have to win. stuart: good stuff, see you soon. >> a modest bounce. investors will leave a lot of money on the table if they sell now. remember when musk drove his prototype around new york city, must've been good publicity, there are huge numbers of preorders for the truck. we will tell you how many after this. ♪♪

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stuart: a little bit of green, tower 50, nasdaq and 30. cryptos doing well today. it was 40,000 the few minutes ago. big tech almost across the board doing well. green for apple, amazon, facebook, microsoft. shah gilani joins us with 3 minutes to go before we open this market. you say investors will leave a lot of money if they sell now. are you referring to me and my possible sale of microsoft? i will miss out on big games to come. is that what you are saying? >> if you are considering selling microsoft, a lot of other folks may fear federal reserves policy, we will see it happening long before it actually happens. investors need to wait this out.

weekly see the whites of their eyes before you fire off your seller because what may happen, what is expected to happen may never happen. the inflationary push may be transitory. we may not have this inflation spiral everybody is afraid of him. not anytime in the near future but if you take money off the table, you miss the next leg higher for the market and it is considerable. stuart: you have been saying that for 10 years. and you always said that. >> the volatility and trade the ups and downs, nothing has changed, low interest rates, and economy that is coming out of the pandemic and grow robustly, earnings at corporations are fabulous, no reason to sell especially on fear of something that hasn't happened yet. stuart: a lot of people like me are wringing our hands and

thinking, time to get out. you've come on the show and say don't do it soon, you leave a lot of money on the table, don't do it, not sure what i am going to do at this point but one other question. i don't know if you ever bought into bitcoin, did you? >> know i haven't. i feel foolish now because it was such a tremendous run. it is outside of my area of expertise. i get it. it is a fabulous tradeable instrument but it is not in my wheelhouse. stuart: is it an age thing? you are younger than i am. is it an age demographic thing? >> know. i understand -- i don't get that it is a store value but don't get that it is going to be some kind of currency, on any other currency, don't get the volatility. that is the investment. stuart: it is your fault.

i will not sell microsoft or by into bitcoin or wherever. thanks for joining us, see you again soon. 15 seconds to go before we open the market. somebody, there you go, press the button, the bell rings and literally 5 seconds we will start trading. looking for a modest gain, we are now trading. very small gain for the dow industrials, half of the dow 30 in the green, half are in the red roughly speaking. the same story, i, the fractional game, 0.5%. the nasdaq is up a 12:45%,

pretty good but nothing dramatic. now show me tesla. not so much about the stock but they are ditching radar in favor of a camera-based system. i know this is a big deal but not sure i understand it. >> elon musk going against the grain because tesla is going your vision, the other players, aurora, all using radar and lightar. that is a 3-d mapping system that tells the car what is in front door beside them. we see who is right in the future because of it is going a different direction, apple will build the car, going radar or lidar or everything else, tesla is going the opposite direction but it will be interesting to see who wins the future battle for self driving. at the million cyber truck reservations, a refundable deposit. it is easy to put down 1 million. stuart: 1 million people put

down 100 bucks? >> to get a cyber truck. stuart: 1 million? >> only $100. for tesla. they sell a lot of cars each year. cyber truck starts at 40,$000. when we get the cyber truck, it was in new york along with elon musk on saturday night live, we get the cyber truck, musk says 2021 this year. a lot of people say probably next year. anyone i question a lot of musk headlines. i wouldn't question that one. 1 million preorders, it is refundable. >> don't know. it is only 100 bucks. >> on the screen momentarily you see game stop and you are going to see amc. both of them up sharply. >> wall street bets is back, look at top naked brand etc.

what we are talking about in the middle of january, for they winning streak, game stop at $200, the highest in two months. the highest in four months and 200 million shares of amt exchange hands yesterday. actively traded non-penny stocks, game stop volume more than triple the average volume of the past 5 days, back in force right now. i wonder why. stuart: the retail. it is an attractive entry point. stuart: i wonder why. i have no idea why. >> summer months. stuart: game stop and amc sharply higher this morning, we try to explain it later. as for the dow winners, 30 stocks in the dow, the major gain is by nike, not a huge gain, one% up for nike. top of the list. the s&p 500, who is top of that list?

i can see, the ford motor company. that is interesting. news on that you have to wait for a second. hold on a minute. nasdaq winners headed by, let me see, fox corporation. doing all right. the other movers. i see virgin galactic up another 2%. what is the story? >> they got an upgrade from virgin galactic initiated as a by. it is influential when they recommend stock. it is $35 because this weekend's first band test in two years means there might be more potential positives for 2021. >> two human beings going up into space just outside, not doing a -- >> 0 gravity, just outside -- stuart: virgin galactic has gone way up, since they announced this. >> in one single day. it is the chinese electric

tesla competitor, subscription service and battery tech and rightly initiating a by with $43 for the crypto minor with a big facility in texas, benefit from more crypto adoption. i wonder what their mining is. stuart: block chain is the underlying technology and there is a lot of money going into the technology as opposed to coins and crypto. >> don't know about that. there is developed on both fronts, more trading. stuart: amazon is official, they reached that deal to acquire mgm studios, $8.4 billion buying franchises like bond movies and pink panther movies. that was a streaming purchase, wasn't it? >> they paid up a lot since mgm is only worth $5 billion in december so this is a 100% premium but you wonder why they

have to pay so much. they pay $10 billion for one thursday night football game. then $10 billion for that, $8 billion a year. if you want to get into streaming and amazon does, you have to spend at least $10 billion a year in content and jeff bezos might be looking at who and disney and they have $1 million in subscribers, and operation with netflix at 200 million. stuart: just wants to grow. can't say i blame him. the ford deal. i know you've got it, they have a big announcement that came out today. i am pretty sure it has to do with electric vehicles. what did ford say? >> $30 billion in 2025, 40% of the deal globally to be electric by the end of this decade. i was a bit of a nerd so i dug into details but profit margin that 8% in 2023, strong for traditional carmaker, they plan

to increase vehicle production as well. stuart: their future is electric vehicles. >> it has to be. governments are changing rules and laws. the trend. stuart: now this. the ceo of air b&b says business travel will never go back to what it was before the pandemic. we will follow that story, believe me. the tsa hiring 1000 workers because they are expecting a huge summer travel surge. next we are talking to the man who created the travel booking site priceline. when does he think business travel will come back? i will ask him because he is on the show.

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stuart: every single day because i love my occupation. i do. what you are looking at now is florida. it is nice, coral springs, cape coral. got to put it on screen so i can read it, cape coral in florida, 77 degrees, the weather forecast for florida for the day. all right. we are showing you this because people are traveling again. airline travel seeing numbers close to 2019 levels. 1.4 million people went through tsa checkpoints tuesday. in anticipation of a very busy summer season the tsa is going to hire an extra 1000 more officers. the ceo of air b&b says business travel will never go

back to what it was before the pandemic. let's bring in our own expert in that subject, jeff hoffman. air b&b says business travel gets back to what it was before. what do you say? >> he is right. the demand, all the increased travel is domestic leisure travel and that is tied mostly to mask policy. people didn't want to go to disney world if you had to wear a mask and it is hot out. last week disney world announced you don't need to wear a mask when you are outdoors so leisure travel is tied to mask policies and what is open but business travel is not tied to that. business travel is dependent upon the zoom period. during this time we discovered a large percentage of the travel we do which is not face to face with the customer

closing a deal, he did really well using technology, we try that without resuming the travel we have for business pre-pandemic. it will never come back to the level that it was, the technology improved effectively. stuart: the people you talked to, are they telling you the screen to screen situation is as good as face-to-face situation in the office talking to real humans, screens just as good as face-to-face. >> they are not for customers, closing for sale. face-to-face, it is done on screen internally. they might go to a policy with a face-to-face meeting with their employees that they might do once a week that they used

to do daily or multiple times a week. they want some face-to-face but they sent a lot of the day today business discussions they didn't fly people around for even though that is the way they used to do it. it is not good enough for everything but it is good enough for some business meetings. stuart: i see airline ticket prices going through the roof and i would imagine that a lot of business travels would be unwilling to pay very high prices for that business face-to-face meeting. the high price of airline tickets, is that another setback for business travel? >> it most certainly is. that is the equation, they are sitting down saying if this is what it costs to fly, this agenda of this meeting something that is worth that or do it on screen with zoom or other technologies? that is a factor and the airlines if you look at the upcoming earnings outlook profits are going to be slim to

modest in 2022, not much recovery until 2023, the airlines trying to solve their problem with high prices in the businesses say that is one more reason we don't need to go to that meeting. stuart: what a change. before the pandemic people jumped on the plane at a moments notice and they were gung ho to make that sale. things have changed and you are right to point it out. we appreciate you being with us. see you again soon. the city council in san jose has given google the green light to start building the mega campus. this is a huge thing here. 80 acres in downtown san jose. include 7 million square feet of office space, 20,000 workers, 4000 housing units 1000 of which will be designated affordable housing and a lot more. 300 hotel rooms, 800

residentss, short-term lodging, was that your story? >> $7 billion in total across america and so this is down from the other campus to silicon valley. stuart: we talk about what they are doing with their money. some markets, oil, $65 a barrel holding steady even though there are some reports that iran may return to exporting oil. memorial day gas prices the highest since 2014, the national average right now is $3.03 per gallon. then the ceo of uber. the stock is at $50 a share but the ceo says he is unhappy. why? >> surge pricing is too high and wait times too long.

you don't do communal travel, people are traveling once again booking their ubers and ride share companies deal with the shortage of drivers and what does that go back to? stuart: stay-at-home. >> unemployment benefits. >> he didn't say unemployment benefits but lack of drivers and wants to see these wait times come down with prices. stuart: can't get in uber driver. when i do uber i can't find the guy. i have to get him on the phone, where are you? i have real trouble. >> i'm shocked you use uber. >> not for some time. now it is time tease and tell our audience what we have on the show. florida ahead of the game on multiple issues. they are open for business and taking on big tech censorship,

cutting benefits to get people back to work. why doesn't the rest of the country follow florida's lead? we are at it and the debate on whether remote workers have enough drive. jamie dimon questions the hustle. what is the end game? i personally don't think we are ever going to go back to work the way things used to be, not going to do that again. my take on that at the top of the 11:00 hour. dward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones.

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independence with peace of mind. call... to receive fifty percent off installation. and take advantage of our special offer of no payments for eighteen months. stuart: breaking news. a dutch court has ruled royal dutch shell must cut carbon emissions by 45% by 2030. the climate warriors are active over there. bankers in america testifying on capitol hill, lots of topics on the table. blake berman joins us from the white house. before we go on about this, senator warren, is she on this committee?

is she asking questions? that is where the fireworks are coming, she will attack the bankers vigorously. >> senate banking committee, the one that posted this hearing, sherrod brown is top democrat on the committee, a dozen members or so on each side, elizabeth lauren is a member of the democratic side. we will see what comes from this, clearly it is something to watch in the upcoming hours because it is a cruise who within the banking industry we will be hearing from. let me run you through the witness list. jamie dimon, brian moynihan, david solomon, head of wells fargo, citigroup and wells fargo, and its turn all the way tomorrow, going into it, we know they will be asked about things about the bank as response to covid 19, the green economy, diversity in the workforce, a couple topics bankers were told to talk about in the lead in going into this.

the biden administration proposing part of the american families plan to have financial institutions report outflows and inflows what could becoming in and out of bank accounts and trying to reform the irs, the reason i bring this up is there are many republican lawmakers who have concerns about that, government has too much oversight and insight potentially in the future, when republican lawmakers get their turn as well, something they potentially have over the course of two days. stuart: it will be fascinating. sherrod brown, senator warren, the irs taking a look at your bank account, see what comes in or out. that is a powerful mixture of topics and people. is it not? >> we will see what comes up. it is the biggest player, free range will be what they say. stuart: the market right now,

kind of mixed, a modest time side move for the dow, and gain for the nasdaq up 46 points. next big show coming up. bob ball, rick scott, sandra smith and kt mcfarland on deck and john sina apologizes for china for calling taiwan a country. why does hollywood keep bowing to beijing? you will hear the apology and i'm going to cover it on my take which is next. ♪♪ ♪♪ double your money and make it back ♪♪ the next one ♪♪ the next one ♪♪ ♪♪

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♪. stuart: good morning, everyone. 10:00 eastern time. that is new york city. let's get straight to your money. we're down on the dow industrials. we opened higher. now we're down. in fact we're losing the rally in the dow and the s&p, holding on to a very small gain for the nasdaq. 10-year treasury yield still down there. you're at 155 right now. 155. that is as low as it has been in a couple weeks, 155. big tech all doing well still except for facebook and

microsoft but modest gains elsewhere. now here is the real story of the morning, the cryptos doing very well. just a few minutes ago we were back to 40,000 on bitcoin. we have slipped to 38, 8, right now. we had ethereum at 2800 level. it is still around that level. we have gains for cryptos and very modest losses for stocks and lower interest rates. that's where we are. now this. it is really hard to imagine a more governor developing apology for telling the truth than maybe we should used to be whowood hypocrisy now. actor john cena apologizing for calling taiwan a country. roll tape. [speaking mandarin]

stuart: okay. he is sorry. he can't say what for because that would mean calling taiwan a country and he would have to apologize all over again, tortuous lodge i can here. of course this is about money. sina has a big following in china. his new "fast & furious" movie opened over there with 155 million bucks worth of ticket sales. he knows he could lose big time if he doesn't apologize for his mistake. this submit the first time china used its economic power like this. basketball took a hit after the houston rockets general manager supported honk coning freedom demonstrators. airlines have to be careful how they refer to taiwan on their

schedules. china is an international bully and that is very important at this particular moment because we want to know if covid-19 started in that lab, in wuhan, in china. we want the truth. did they use their money to intimidate the world health organization which white-washed the initial investigation? now instead of calling for an american probe the biden team wants an easily manipulated international investigation. did they get to us? china would do anything to avoid responsibility for the covid catastrophe. the second hour of "varney & company" is about to begin. ♪. stuart: i got a headline for you americans responding to

progressive wish-lists. the first three words, four words are most important. biden's radical agenda stalled, so says liz peek who joins us now. radical agenda stalled? i question that. seems like they just started to get rolling. how come you think it's stalled? >> well, stuart, i think there are two big speed bumps for the biden white house. the first is the border chaos. americans are not happy with that. it is a political hit to joe biden but the second more consequential one in terms of this top pick is inflation and -- topic. people are beginning to connect the dots between the five trillion dollars we authorized to fight covid and to fight of the laggard economy with the fact that everything is going up in price. when americans go to the grocery store, chicken prices are up, diaper prices, coca-cola, housing, gasoline, everything is going up in price. is there any question in americans minds that might have

something to do with the fact that the federal government is spending more than it ever has before even in wartime? it's absurd i think the, i think people are beginning to question absolutely the need for another $2 trillion in a infrastructure bill, now only 1.trillion. stuart: true. >> 2 trillion in social spending beyond that. i think it isn't going anywhere. stuart: really? not going anywhere? i have a hard time thinking that they won't get any tax increases or they won't get any big spending increases. i can't see that. if they get even half or a quarter of what they want it really would transform american society. >> well, i think we have obviously midterms coming up before we know it and there are a lot of democrats in the house in particular in swing districts that are not, that have to be somewhat responded to polling which shows that americans are not on board with the

progressive agenda. stuart, we forget, america is a centrist nation. in fact it is a right-leaning centrist nation. we're being conned by the liberal media and by democrats thinking if you're not on board with this express chain, this juggernaut of progressive legislation you are out of the mainstream and nothing could be farther from the truth. one data appointment which i think is fascinating, all the talk and all the slamming of georgia and republicans are voter law, 87% of the country in a recent poll thinks we should have voter i.d.s. what does that tell you? it tells all the liberal media is on the wrong side of a very important issue, an issue really matters to americans. that is not all. in another poll only 10% of the country identified themselves as very liberal, 10%. those are the people driving the bus right now. it is not going to work well for

democrats. i think they will lose the house big time as a result of this legislative onslaught. by the way, the more time that goes by on this infrastructure bill, and the fact that only, less than 10% of it is actually for infrastructure, americans are going to get alarmed and rightly so. stuart: liz peek, i hope you're right. thank you very much for joining us this wednesday. >> you too. stuart: see you soon, liz. thank you very much indeed. >> thanks, stuart. thanks. stuart: got to check the market for you because the dow is up a tiny fraction. nasdaq is up 30 and s&p is not doing very much at all. it is down a tiny fraction. look who is here, bob doll the man himself back with us. bob, you're watching the tug-of-war between the markets, between higher earnings and a strong economy versus higher interest rates and rising inflation. okay, it's a tug-of-war. which do you think wins out? >> well i think we're going to play both sides of that for

sometime. i think we're in for a period of sideways chop. today is a perfect example. the futures were up nicely. a minute ago the dow was down now it is back up. we'll have a lot of volatility. the markets and investors know how strong the economy is around how good earnings have been and will continue to be. the debate is okay, how much will inflation go up, how much will interest rates go up? you know, as you just talked with liz peek the government has thrown a ton of money at this. you know one way to talk about inflation, stuart, is too much money chasing too few goods and then you put in some supply disruptions on top of that, no wonder prices have moved up. stuart: okay. if someone comes to you and says look, i'm got some spare cash, i have some extra cash, wherever it came from we don't care. we have extra cash. you want to invest it. they say to you, right, should i put some of it, should i put it into cryptos and should i put it

into stocks, what would you tell them? >> i would say if you like to roll the dice and speculate and gamble cryptos is your game. if you want an investment for the long term you got to use common stocks. look, if you own cryptos you own it because you think somebody is going to pay more. the value underpinnings just aren't there. in stocks you could talk about companies and earnings and growth and all those good things. so that one is easy for me. having said that, crypto until recently obviously done very well. i think it's a speculative investment. or a speculative choice. i'm not even going to call it an investment, stuart. stuart: bob, i'm taking your advice. i'm not going to sell microsoft, i'm not going to put the proceeds into any kind of crypto at all. if that is a lousy strategy it is your fault bob doll. >> you can blame me. stuart: believe me, son, i will. come back soon, bob doll, always a pleasure.

thanks for being with us. >> thank you, sir. stuart: let's look at market in more detail, amazon up seven bucks, a quarter of 1%. you still want to talk about amazon mgm. susan: i want to talk about physical pharmacies. stuart: wait, wait. we haven't talked about that. amazon physical pharmacies? that's news. susan: this is being reported by business insider. we have to temper a little bit. they could be inside of whole foods. maybe not individual pharmacies where you see amazon labeling on the streets, right? you have to walk into whole foods possible sy. an upgrade today. citi are reiterating their buy call on amazon. they officially bought mgm, james bond for eight 1/2 billion dollars. move on to the gamestop and meme stocks. the trade is back on. we're up 10% in the first 35 minutes. stuart: whoa. susan: we're trading the highest in two months. amc is trading at the highest in four months as well. these are very active contracts.

stuart: just like the old days. susan: like old days, like january. stuart: three or four months ago, it really is. amc, 12%? susan: that's right. not on news or what we call fundamentals or business. might be momentum plays by the wall street bets and reddit social media crowd once again. let's check on the cruise lines. royal caribbean i mentioned to you. this is big news. first cruise line to get cdc approval to test voyages from their hub in miami. only if 98% of crewmembers and 95% of passengers are vaccinated. we're seeing 50% of the u.s. population, right? stuart: people who go on cruises tend to be older. susan: yes. stuart: they tend to be more vaccinated than the rest of us. susan: they have a good early bird buff fate, right? stuart: midnight buffet if all else fails. royal caribbean gets an okay to cruising out of miami. that is a big deal. that is why they're up. tesla is making changes to the

autopilot feature. explain it to us again. susan: this is the battle for the future. elon musk and it tesla going against the grain, going pure vision, cameras and sensors when it comes to automation when it comes to waymo, aurora, apple in the future pivoting going for radar, lidar which is a 3d scanner lets you map the terrain so the car knows where they're going what in front of them. we'll see who wins the future, is it mosque or tesla with self-driving or the rest of the automakers. stuart: when you think about it that is really a big deal. if musk is going out on his own in a separate direction than just about everybody else that is a really big deal because we've got, what, ford motor company saying within a few years 40% of all vehicle sales will be electrics. susan: right. this is about, we're talking about self-driving, autonomous

driving. this is the point of the radar and lidar, et cetera. i was going to talk to you about cyber truck. do we have time for that? i just like showing the cyber truck, surprising with you a million deposits of $100. there it is. stuart: a million deposits of dollars. refundable. stunning number. case closed. that is a stunning number. get your 100 bucks back if you don't want it. even so a million out front. that is fantastic. stuart: susan thank you very much indeed. a principal accused of white sue prem city not wanting a blm flag in classrooms. >> this is not a good policy because the board is in the classroom. >> this is stalling. pushing white supremacy. getting in way of progress. stuart: we'll have the full story for you.

crypto boom creating new businesses like ledger. they sell hardware that they claim will keep your bitcoin safe. i don't know about this but we've got the guy on the show. we will explain it. first though, the white house says china hasn't been quote, completely transparent in the covid origins probe. china expert gordon chang says there is no way we should trust china. he is on the show next.

stuart: we showed you the clip much john cena apologizing to china because he called taiwan a

country. i want to bring in gordon chang, china expert of this moment. gordon, do apologies like this would seem to make china more powerful, wouldn't it? >> certainly. really the sin here is that john cena is reinforcing beijing's arrogance. when you make beijing more haughty, more arrogant you make more dangerous. remember xi xinping has been hinting more than a decade he is the world's only legitimate ruler. he believes everybody in the world owes observance to him. john sina affirmed that view and it is not a good thing. stuart: this supposed international probe for the wuhan lab, will they use it to protect themselves from the truth? >> of course they will. there should be a baseball rule of disease investigation.

three strikes and you're out. there is already been three world health organization missions to wuhan since the disease surfaced. january and february of last year, and january and february of this year. how many times does the w.h.o. have to fail before we try something else? president biden by outsourcing all of this to the w.h.o. is really just not discharging his duty to the american people. 591,000 americans have succumbed to this disease so far. stuart: president biden is going to meet vladmir putin in geneva, switzerland in early june. are we america, are we cozying up to rush that to get a relationship going there to oppose china? is global diplomacy working in that direction? >> you know it looks like that because they dropped their objections to nord stream 2 which was a fundamental point of u.s. diplomacy, especially

during the trump era. you know president trump got a lot of grief for his diplomacy with regard to moscow but really it is just the same thing we did at end of the cold war we peeled china away from the soviet union. now it looks like we're trying to peel russia away from china. there is a lot of complications here but this is not bad diplomacy. stuart: all right. gordon, thanks very much indeed for your insight into what is going on in china. come back again soon, please, because this story is not going away. by the way we have this for you, china is looking to crack down even more, even further on cryptos. we've had this story running for the past week but this is new. what are they doing now? susan: should tell you about it coin, crypto is up as the entire crypto space is awaiting the council plan and how do they address environmental concerns, right? we know tesla with bitcoin of environmental concerns. stuart: when do we hear about the environmental mining plan? susan: later on today. stuart: okay. susan: but people are

anticipating maybe easier guidelines shall we say. meantime china is cracking down especially inner among mongolia, bitcoin mine something done there with cheaper electricity prices. they're looking to punish companies and individuals. that is the new part, they threaten telecom companies you could lose yourness licenses if you continue this. cloud companies you will be pushed out of lucrative government policies and contracts. bitcoin, crypto trading, takes up so much electricity a lot of the cheap areas in the world including inner mongolia, the capital is impressed by that is hotbed for crypto mining. what is the capital of eritea. stuart: that is the participate of ethiopia-ed off. i can't remember the capital's name. susan: djibouti? i don't know. stuart: people are scrambling

all over the world to find out the capital eritrea. that was a side. let's get back to major retailers. they're reporting earnings, they look really, really good. stock prices going straight up. they were food reports. susan: there were really good ones. nordstrom is the outlyer it was pretty bad, lost twice as much money. stuart: that's bad. susan: dick's made three times more money than wall street forecasts that is good, right? same thing happened for urban outfitters as well. tripling profits, michael kors versace owner. they own jimmy choo you know that. abercrombie & fitch making a lot of money. stuart: bottom line we're spending like crazy. susan: stimulus checks. you have a lot of money printing takes place. stuart: right. susan: also people are going back to shops which you heard that from urban outfitters. stuart: two trillion dollars in checking accounts to be spent just like that.

thanks, susan. here is what we have coming up. you won't believe this. going broke to get woke. one major university offering a degree in social justice. we have the story. how do you protect your crypto investments? one of our guests coming up shortly, he runs ledger which sells hardware which he claims will keep your digital assets secure. i don't understand this but he is here to explain after this. ♪.

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stuart: not much price movement on the market this morning. we're up 50 for the dow, 60 for the nasdaq. 435 up for the s&p. -- 45. bitcoin, $40,000 a coin earlier. 39,165 right now. which brings us to a company called ledger. now this is a company, that makes, i'm quoting here, hardware wallets to keep your crypto safe. i don't understand any of this but the man who runs ledger is ian rogers. he is the chief experience officer. he will set me straight right

now, aren't you, ian? all right, a hardware wallet, is this a wallet that is tangible, i can hold this thing? >> sure. it is actually a small piece of hardware. looks like a usb drive and you know, you need it because we have now digital value. digital value that you could lose and it is hard to protect that value with the devices that we have on our desktops and in our hands which are really meant to do a whole variety of things. that is what makes them so great. so to protect that you know, the, kind of scarce digital goods you need a very secure device. that is exactly what we make and sell. stuart: okay. that is a secure device. keeps your crypto investments absolutely dead safe because it is yours, you possess it. you got it in your hand. what else can i do with this hardware wallet? can i trade cryptos? can i invest in them? what can i do on it? >> sure. just to tell you a little more

about why you need that is because you need to keep your private keys safe because your value, when you have crip at the currency, the value is out of the blockchain. it is safe on the blockchain. it is protected by the fact that everyone can see it belongs to you. when it is in danger is that the point that you make a transaction. when you make a transaction you have to sign that transis being shun with your private key which means no one else can have the private key. the ledger wallets keep your private keys off the internet. then yes, to answer your question you can do transactions then right from the application we have connected to the ledger wallet which is called ledger live. you can buy, you can sell, you can trade and you can do all kinds of things, the things that you would do with your digital as et cetera through ledger live with secure signature on your ledger device. stuart: ian, you're getting through to me, you really are.

i am beginning to understand what i'm talking about here, that is a really valuable thing in any interview. you can buy, sell, trade cryptos. you keep them real safe in your plug-in device. are you as a company, is ledger an investor in cryptos? >> we actually do have cryptocurrency on our books. some of the transaxes that we do are done in cryptocurrency and we do keep that crypto on our books, yes, we do. >> are you private at this point? >> we are. we are a private company. stuart: plans to go public? >> no. i mean, our plan is to innovate. so as long as, as long as there is you know innovation to be done we plan to stay a private company and just you know, create value for our shareholders that way. stuart: where are you based? >> based in paris. calling from paris today. stuart: i actually knew that. i was trying to figure out why are you based in paris? >> well, for me personally i

came here five years ago to be the chief digital officer at lvmh. which is where i met the ceo of the company called ledger, brought me in as chief experience officer but ledger is in paris because really security is, you know what they would call in french metea, is quite well-studied and practiced in france. the engineering schools here in france are incredible. security, cryptography are some of the things that are well-studied as well and things like the chip and pin technology that is in credit cards was actually developed here in france. so it is really a french metea. stuart: ian, you've shown me so much in the space of 3 1/2 minutes, i'm inclined to ask you to come back again and we no doubt will. thanks very much for joining us. >> thanks for having me. stuart: ledger, keeping your cryptos safe in an actual physical, tangible, digital wallet. good stuff. ian rogers come back soon, see

you again. appreciate it. how did i do on that. susan: that was pretty good. stuart: made me understand what he was talking about. susan: he is very good. stuart: next case, a school district may require classrooms to fly black lives matter and pride flags. come on in ashley webster and tell me where this is taking place. ashley: it's a school board in gresham, oregon. that is just east of portland, oregon, and pushing a policy to mandate each classroom in the school district display black lives matter and progressive pride flag or poster. to recap every classroom required by the school board would include an american flag, a pride flag, and a black lives matter flag for every classroom. now board members who disagreed with this were accuse, oh, yeah, promoting white supremacy. take a listen. >> it is not a good policy because it has put the board

into saying what has to be in the classroom. >> this is stalling. it is pushing white supremacy. it is getting in the way of progress. we're trying to make sure that everyone is seen and heard. this policy wouldn't even be such a big deal if it wasn't for board members trying to push this get the public involved. this is pushing unnecessary trauma and it is really inappropriate. ashley: don't get the public involved because then you find out what people real little think. look, the school board also suggesting that students recite the pledge of allegiance once each week during the school year but also recite a land acknowledgement each week and also recite the black national anthem f you don't like it you're a white supremacist. stu. stuart: okay, i have to move on ashley. otherwise i'm really going to same something i will be sorry about. i have another one for you however, you can earn a social justice graduate degree. i guess we're turning out

political activists but where is this one? >> yes. the university of central florida offering a graduate certificate program and communications track focused on social justice. according to the school's website the program is aimed developing leaders, quote, who can influence policy to create social justice. the course is designed it is said for students who want to become city council members, government professors, lawmakers, political consultants, senators, other public policy figures. churn them out at the university. you can also take classes in social innovation and activism. stuart: come on, ashley. cut the sarcasm, man. you know perfectly well we need more political activists. you know that! get out of here. ashley: please move on. please. stuart: i will. okay. you like this one. ashley: thank you. stuart: tiger returns, not to the golf course but tiger woods made a rare public appearance

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♪. stuart: the surge at the border clearly continues even though the white house has said again the border is closed, the border is secure. let's go to bill melugin. he is at the border and has new footage of apprehensions this morning. bill, what do you have to show us? reporter: yeah, it is like a

prone record here in the rio grande valley. this is yesterday before we get to the new footage. this group of guatemalanss got caught in the brush next to a u-haul store. i had a chance to have interesting conversation with one of them. 23-year-old guy from gaut maul la named orlando. he told me paid a coyote $10,000 to smuggle him to the border. he wanted to get out of the guatemala because of poverty. they is the fifth time. he had been deported. he wants president biden to show mercy to adult migrants, to say. that is likely not happen. most single adults are deported if they are caught. to the new video. this is hour 1/2 ago in la jolla texas, 15 minutes to the east of oust. more horseback apprehensions. vehicles, helicopters, horses as well. these migrants appeared to turn themselves in not like on sunday

when we showed you the video of migrants running all over the place. these giving themselves up and being taken in. if we pull up video of i.c.e., there is some questions what is going to happen with i.c.e. under the biden administration. dhs second alejandro mayorkas saying he is considering making significant changes to the industry. the question what are the changes going to be. they curtailed ability to make arrests and deportations. now national security threats and grave dangers to society. former i.c.e. director tom homan under president trump said this will be a disaster. take a listen. >> i think immigration enforcement will be completely off the table. already is. you can be an illegal alien in the country, walk up to i.c.e. agent, i'm here inlegally. i entered the country illegally last year. judge ordered me to leave, i didn't leave, what are you going to do about it. i.c.e. officers can no longer

enforce immigration law. reporter: from our drone camera the big issue with i.c.e., when we show you video of runners, some people get away and get deep into the interior of united states and it is i.c.e.'s job to track the folks down especially if they have criminal records and deport them. we'll have to see what happens with what the biden administration is deciding to do. the other aspect to this whole story all of those unaccompanied children coming into the united states. we got brand new numbers for you on that. they're averaging catching 360 unaccompanied children every single day over the last 30 days. brand new numbers, more than 18,000 unaccompanied children currently in hhs care. shocking numbers. we'll send it back to you. stuart: shocking numbers, extraordinary videotape. you have got it all. bill melugin, we'll see you again. let's get back to money. the dow up 40. nasdaq up 60. we have green.

s&p is up six. we're looking stocks that are moving significantly. i see ford motor company at 13.70. what have they done. susan: took five years to get back up here. five-year high for ford motor because of their investment in electric vehicles. $30 billion into electric through 2025. they expect 40% of their sales globally to be electric by the end of this decade. they're ramping quickly. virgin galactic a buy at canaccord, thanks to this weaken's successful test flight, first in three years. cybersecurity companies are hot, hot stocks these days. z scaler making twice as much money than anticipated in the first three months of this year. finally quickly, let's do dick's or riot blockchain. stuart: dick's pops up. susan: riot blockchain got an upgrade which i thought was

interesting especially in the crypto craze we're in. stuart: let's get to uber. the yo is talking. the ceo says he is not happy. a big story for uber today. what is he unhappy about? susan: a lot of things. customers are unhappy about surge pricing too high, wait times are too long. people we know are traveling once again. rideshare companies are reporting that ride-sharing and ride-hailing has improved. so they're going back to work. they need their ubers. so what is the problem is that there aren't enough drivers, right? so uber ceo dara says there are not enough drivers. this goes back to the unemployment. why do it if you're getting paid same thing sitting on the couch. stuart: uber is hit with a lot things and shortage of drivers. what do you do, you take people on rides, can't find drivers? common. how do you run a business like that. that's a problem. thank you, susan.

how about tiger woods made a rare appearance on social media, first appearance after his car crash. take me through it, ashley. ashley: mowersly avoided the cameras as he recovers from those injuries from the car crash he suffered back in february but a picture shows him on crutches greeting a 10-year-old girl battling bone cancer. there it is, giving her a inspiring message. the picture was taken in florida where apparently the girl luna ran into woods at a soccer event and posted her encounter on instagram saying that woods told her to stay strong. i love that picture. the picture also shows what appears to be a compression sleeve on his right leg. we know woods suffered multiple leg injuries in the crash. taking time out to have his picture taken with the 10-year-old girl. good stuff. stuart: that was a nice thing to do, thank you, ash. president biden will meet with the president of russia three weeks from today. who has the upper hand?

kt mcfarland has the answer. she is coming up. from fighting social media censorship to getting back to work florida leads the way. florida's own senator rick scott joins us live after this. ♪ ♪ ♪ ♪ ♪ ♪

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♪. stuart: doesn't that look attractive. my goodness me. that is clearwater beach, florida. 83 degrees and sunny. people say why do you always show the beach in florida? the answer is, it looks really nice. it cheers people up, that is a fact. not just beautiful in florida. florida is leading the way in a lot of different areas. governor desantis he signed a bill to stop big tech censorship. the state cut off the weekly unemployment benefits. trying to get people going back to work. look who is here, the senator from the great state of florida, republican rick scott indeed himself. i spend a lot of time on this

program saying how wonderful florida is. i hope you appreciate me, mr. senator. >> i appreciate you. it is a free commercial but stuart, you're right, just think about how good you feel fly into florida, you see that beautiful water. as you get to walk on the sand, that why would you want to be any place else? stuart: they hate you up here you know. i'm in new york and new jersey and new york, illinois, california, they don't like florida one bit because, i, look, my opinion, you've done it right. you opened up. you vaccinated. you are fighting big tech censorship. you're opening up. stopping the $300 a week. you're moving. florida is moving and the democrat-run states they can't stand it. >> and we don't have income taxes. we have less regulation. and we have, we're number one in higher education in the entire united states. we got a great company. 12 system. you think about the things, and we're 49-year low on the crime rate. all things families care about is happening.

i'm glad we, the governor said we'll not take the extra unemployment benefits. so we're going to stop paying people more not to work. can you imagine in the united states of america, united states of america, we're paying people more not to work than to work! that is the craziest thing in the world and these social media platforms, they got to be held accountable. i have got a bill that says we're going to protect your privacy. that is what the social media platforms should be doing on their own. i'm glad the florida legislature and the governor signed a bill that will hold social media accountable. we're doing the right things in florida. stuart: you spoke out about john cena. he apologized to china, groveled an apology. mr. senator, you tweeted about, i know you did. you don't approve what is happening there. >> this is disgusting. stuart: mr. senator, hold on a second. if they can bully hollywood so easily and they do and bully basketball so easily and they do, are they going to bully the

wuhan investigation, the wuhan lab investigation as well? >> i'm going, you know i will do everything i can to make sure we find out what really happened there but whether it's john cena or hollywood or the nba, or the olympics or these woke ceos, come on. you live in the united states of america, the greatest country ever created in the history of the world and you're going to kowtow to a communist dictator? that threaten you, threaten your ability to make a little extra money short term, threaten to take away democracy in taiwan? come on, act like an american. we stand for freedom an liberty and pursuit of happiness. that is what these individuals have got to do say, neil, the heck with what general she -- xi says. what the communist party is doing in china is despicable. stealing our jobs, stealing our technology, putting people in prison for religion, take

peoples organs away, taking away basic rights of hong kong citizens. that is despicable what they're doing and we have to stand up for american values. stuart: i think governor desantis is trying to push forward free speech by preventing big tech from censoring conservative opinion. i think he is actually opening the door for some honesty on china. >> think about this. first off the big tech companies are okay with the ayatollah of iran threatening death to the jews and "death to america." and he he is okay with genocide of citizens of venezuela but, okay to censor a republican or conservative, that is what they do. we wouldn't want to say anything bad about general xi, should we. they have to be careful. the big tech companies want to make more none any. all about making money, making money, making money. stuart: mr. senator, thanks for appearing in this commercial for florida.

great to have you back. don't be a stranger. we'll see you real soon. >> bye, stuart. stuart: another big hour coming up for you, we have sandra smith, kt mcfarland, heather macdonald and a whole lot more and will you come back to the office and are you a slacker if you stay at home and work from home? i have an opinion on that. ♪ ..

>> the airlines trying to do that, the businesses are saying one more reason we don't need to go to that meeting. >> we can talk about reopening trade until blue in the face but a lot of those stocks are already at all-time highs. >> markets and investors know how strong the economy is. the debate is how much will inflation go up, how much will interest rates go up. >> veterans need to wait this out, it may never happen, the fed may be right, the inflationary push may be transitory. we may not have the inflation spiral everyone is afraid of it. you could miss the lex -- the

next leg higher. stuart: i like that music. it is 11:00 eastern time on wednesday may 20 sixth. it is 11:00, straight to the markets, a little bit of green, not much but a modest bounce up 73 for the nasdaq, 55 for the dow. show me the cryptos. bitcoin 39,200, 40,000 earlier, ethereum made $2,800 earlier, cryptos are up this morning and so are stocks. now this. back to work. are you coming in? after a year or more of working from home how many will actually come back to the office? how many want to come back to

the office and under what circumstances? two days at home? three days in your cubicle? tens of millions face the choice and the challenge and for some it is the biggest challenge of the pandemic so what do you make of jamie dimon? america's best known banker saying remote work is not for those who want to hustle. stay at home people are slackers the lacking ambition? is that what you think? there are some managers who feel you have to show your face to get ahead, they want to see an employee engaged with the company and it is easy to engage in the office rather than at home. millions of remote workers are very happy at home, they don't commute, they can live anywhere they please and if they are happy and productive they don't see why they should go back to commuting and 95 hours. ernst and young, the accounting firm surveyed 60,000 employees. half would quit if their employers failed to offer flexible working arrangements

like two days at home, 3 days in the office. even if it is just 10% who refused to go back full time, that is a shift in the workforce. the pandemic change the where and how tens of millions of people work and there is no way everyone goes back to the way it was 18 months ago. too many people have a vested interest in staying happy at home. that is just my opinion. look who is here this wednesday morning, and another concentra smith. >> best way to start my day. i love the opening monologue. stuart: i don't think we are going to back to working in the office again, at least 10 or

15% will stay home and work from home. >> a lot can change and a lot has changed. when it comes to productivity you can look at study after study, all these big universities are looking into this. productivity remained high for many large corporations, they figured it out. now there's the sticky middle ground, wall street journal took this on, finding a hybrid model. no one is predicting a full return to the office for all these major american companies. people have figured out how to work from home. one harvard study point to an important aspect of all this, it is the social aspect of the workplace but you see how workplaces changed over time, the office model, the corner of closed-door office model disappeared over time. the open desk environment people could communicate, that

is still important for creativity, establishing pecking order and all those things and people getting dressed up and showing up to impress. that is still very important but as far as productivity many of these companies have seen their workers remain in some cases more productive working at home to ditch the commute, spend more time with family. i will tell you in my personal experience talking to those who have been -- i haven't been in the office since july last year in the middle of covid but some of these folks want that separation of working -- being at home with their families and going to the workplace. a lot of people while they have enjoyed the benefits of working at home and seeing their family more they want that separation, would like to get back to the office some days a week. stuart: 10% to 15% will not come back to work in the office. >> i think that is fair. it is a major recruitment item. stuart: a huge shift in the workplace. >> you can work from home and you want to, that is going to

be a major improvement. stuart: got some more coming up. back to the market for just one moment. we are seeing some movement develop, dow is up 70. nasdaq up 70, inflation fears are still very much with us as we head towards what might be a summer rally. is that what we have here? >> pumping money into the system, stimulus checks left and right, still free money out there, low interest rate environment. there are inflation fears, if you are trader in this market you have to keep that in mind but there is a booming economic recovery happening in this country, people are traveling, packing their suitcases, heading out to the stores, shopping online. i go to the price of lumber. the price at a record high, they tripled during the

pandemic to pre-pandemic levels. there's a major economic boom happening, you can't deny that. stuart: sandra smith just bailed me out because i was utterly lost, didn't know where we were going, the first subject, didn't know where i was going next but sandra chimes in, brilliant stock market analysis. susan, some movers, we have what do you call it, readis stocks. are they active again? >> part 2, wall street back at it, the game stop is up by a third already this weekend it is only wednesday. amc entertainment is up 50% on the week. it has become over held, and record markets unleashing animal spirits that people want

to buy and make the brand as well. amazon, since i know you love james bond and mgm, to by mgm for $8.5 million to make it official. they pay $10 million for one game for the nfl thursday night game for 11 years but makes more sense for streaming ambition. stuart: don't necessarily love james bond but that is the question americans have been asking me for 50 years, go ahead, say it, james bond. i am still getting that after 50 years in america but there we go. have a look at this. a new poll from reuters, 63% of republicans want donald trump to run again in 2024. sandra smith is still with us. would you make of that? >> sounds right from what you talk to republicans and democrats on this program. stuart: mostly republicans. >> can't say it enough.

stuart: you are a news show. i am an opinion show and i'm a conservative so i talk to a lot of republicans. >> every time you speak to those republicans us point blank do you support donald trump and will you support him in another run for the presidency. you need to know where they stand. >> they like donald trump's policies but not keen on donald trump the persona. that is where they are coming from. >> in politics there is a lot of time left for a lot to change. >> 20 months to the election or something like that. >> that fell short now. stuart: an eternity. intellivision it is a lifetime. i have this one for you too. the nation's report card, the science proficiency scores from 2019, 30% eighth graders, 20% high school seniors. that is from 2019, how those

grades scored in proficiency. >> that is free covid, kids that age sitting on zoom, falling asleep, they are not hands on. they are growing competitive in china and other places abroad. it is important catch up after covid is important to the record number of americans who are not signing up for summer classes. this catch up is going to be huge and you look at the race theory and all of the woken this you are talking about, math and science, reading, literacy, kids needed more than ever, can't tell you how important this is for the school to acknowledge this or parents to acknowledge this in the home. it all starts at home. read to your kids until and how

important school is. all the stuff can happen later on. stuart: that is what everybody says to me. a lot of people say it, my name is bond, james bond. everybody says you have a lot of kids. that is the way it is. i am watching you. america reports from 1:00 to 3:00 eastern this afternoon. >> lindsey graham, ted cruz. now this, portland police as in police in portland, declared a riot last night, writer set fires on the 1-year anniversary of george floyd's death. sean sina apologizes to china, why do we keep buying to china? president biden will meet with russia's putin last month. who has the upper hand in this? kat mcfarland will answer the question after this.

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stuart: the biggest names in banking are lined up testifying in front of capitol hill today making some headlines. what did jamie dimon say? ashley: you expect inflation to go considerably higher than the one.6% the fed was looking at, thanks to unprecedented government support no doubt inflation will go up but

hopefully the federal reserve can control it. the fed said they expect inflation to die down later in the year, dimon seems to think it is higher than people think. stuart: thanks. >> don't regard the meeting with the russian president, as a vital part of defending america's interest. meeting with vladimir but because of the country's differences. >> defending president biden's upcoming meeting with vladimir putin. let's bring in k tmac farland knows diplomacy better than most. who has the upper hand in this class of the president of the united states, the president of russia, who has the upper hand?

>> not even close. it is going to be vladimir putin. i spent decades studying vladimir putin. for him, he is a believe, he's going to push until he gets pushed back and he's not going to get it from biden, he hasn't had it from biden. in the last couple months, the russians told the americans don't send naval vessels into the black see on the normal routine annual visit. we are not going to let you, you better not do that. the russian back into the american colonial pipeline, devastating the american energy industry and gasoline industry, what happened? vladimir putin said it was in the russian government, what did we do? we accepted that. time and again vladimir putin pushing and pushing and we seem to always say okay, fine, we are okay with that.

democracy is nothing if it is just a bunch of chitchat meetings, diplomacy with leverage is negotiation and if you don't have leverage and are not willing to use it you are not negotiating, you're just pleading and begging and that is what happened. stuart: is it possible the president biden will get together with vladimir putin and line up the 2 of them to counter the growing threat from china? that is global politics all wrapped into one meeting but are we getting together to gang up against china? >> if we are i'm all for it. that is what the trump administration tried to do in the beginning, the triangular diplomacy, something at a young age to henry kissinger in the 1970s, that is what the united states did, we made a better deal with china than we did with russia. you always want to go with the week line and have a stronger hand. that would be a terrific thing to do if that is their objective but i don't see that that is their objective and i'm not sure they conceive of that

kind of geopolitical play. it would be a good play. it would be great if they did it but i don't think they will. stuart: i show my audience and you actor and former wrestler john sina apologizing to china for calling taiwan a country. role tape again please >> [speaking mandarin] stuart: that surely was a groveling apology if ever i heard one. sounds like he was being bullied on the financial front. my question, is china going to believe the investigation of

the wuhan lab like they bully hollywood or basketball? >> absolutely. get used to this because this is how -- australia joined with 100 other countries and said let's have an investigation of the origin of the wuhan virus and china shutdown agricultural imports from australia trying to bankrupt the australian agricultural industry from mere suggestion, china plays hardball and will not tolerate anything they perceive as a slight insult to the chinese government, chinese communist party, chinese people, china anything, and they play hardball tactics as you've just seen. that is groveling? get used to it. that is what china expects to do if anybody stand up to them. stuart: have we backed off? we are going to allow an international investigation of the wuhan lab but won't be an american investigation of the wuhan lab.

>> american investigation, they will not let american scientists anywhere near, the only investigation would be an international one but even then the chinese have had a year to cover their tracks. was a lab week. once it was out, once the chinese realize how it was, and and they encouraged it with the rest of the world and as a result, scoop up international resource companies, they play this as a biological weapon. stuart: wish we had more positive news but if we don't and thank you for being

beautiful that you are. k tmac farland, thank you very much. got to look at the markets. they are active, dow up 40, nasdaq 70. i want to show you uber, matt olson, it was head of the justice department the security division, not only affect, the uber is up one%. the federal aviation administration downgraded mexico's their safety rating. what does that mean for flights coming to the us. ashley: they made the decision after finding mexico didn't meet the standard set by human aviation group, you downgrade from category one to category 2, puts mexico in a group of countries that include bangladesh, pakistan and

thailand but it means us carriers won't be able to sell tickets on flights operated by mexican airlines which would affect delta airlines which have a partnership with the mexican carrier arrow mexico. the mexican airline responding by saying it will work with regulators in mexico to reverse, it is a ruling that shot some. stuart: this is coming across at me. the uk banning an ad for bitcoin. do we know why? ashley: the advertising campaign told people it is time to buy bitcoin, that has been banned for being irresponsible and misleading. the crypto currency exchange service have been seen across london's underground network and london buses all this year, you can see if you see bitcoin

on the bus. it contains cartoon image of bitcoin with the words you are seeing on the underground, uk regulators, the apps failed to highlight the risks and say gives the impression bitcoin investment is straightforward and accessible. the governor of the bank of england, crypto currency should be prepared to lose all of their money, pushing back against the cryptos a little bit. stuart: thanks. the shortage of lifeguards, not good news ahead of the memorial day weekend. we have the report. lifeguards will not save you from bears crashing a pool party. we will tell you extraordinary video. we have that for you. the dream hotel reopens in new york city today. what is different about the

dream hotel compared to where it wasn't what they were offering pre-covid. the dream hotel group joins us 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 ;) in business, it's never just another day.

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stuart: we would love to fly away at jackson airport in atlanta. 82 degrees and 30. 8.4 million people pass through the checkpoints was it was 264,000 on the same day. 1000 new officers before july 4th, they keep up with summer travel demand. earlier on this program jeff coffman who created the booking site priceline said leisure travel leading the surge. >> leisure travel is tied more

to mask policies but business travel is not tied to that, never going to come back to the level that it was. stuart: never back to the level that it was, bad news on business trouble, on the upside, not huge gains, american and 23, united reaching 57. the dream hotel in new york reopening its doors today. dream hotel group is j stein, great to have you with us today. what happened during the pandemic that has changed your hotel in new york city, what is different about it today compared to the pandemic? >> what is different about it, that we are willing to reopen, the demand coming into the

market at reasonable levels, very small compared to what we are used to running 90% occupancy for annualized occupancy and we will probably open to 25% or 30% range which gets us to the point of losing to being open to being closed. stuart: i wasn't expecting that response. honesty is a good policy on this program. how do the bookings and reopening in new york compared to other cities, other places you have hotels around the world? >> new york city is the slowest on the recovery so far because we have opening around the us. miami as you have been hearing, the best may ever at the dream in miami, hollywood is picking up nicely. midweek as you mentioned the corporate business lagging behind the leisure and national as well.

with all leisure demand, 25% off the pre-covid numbers, miami at 300% and in north carolina still slow but doing nicely on the weekends. it will take the longest to get back. stuart: did you get money from the government to see you through largely unscathed through the pandemic and the lockdown? >> know. not even close. real estate taxes very burdensome on us was the penalties in new york city were 18%, the ppp money we got, that were open and demand into the market. in these markets acting very hard.

>> what you said about new york real estate taxes, this city wants everybody to come back, workers and tourists. i don't think they are doing a good job getting people back. >> we needed to go to the federal government and get assistance and get hotel owners the relief on the real estate bills in 2020 and in 2021, smart thing to do, very difficult as we do, the automobile or banking or allies, these hotel industry is not easy, it is not controlled by 6, 7 or 8 entities but by thousands. stuart: glad to see you coming back to new york, it is only 25% capacity. good to see you back in new york, don't be a stranger.

>> thank you. >> two big things threatening the summer swimming season, that shortage of chlorine and shortage of lifeguards. grady trimble is at a beach in chicago. does this mean some beaches will not open at all this year? >> it opened this friday but some pools and beaches won't be able to open at all this memorial day weekend, they don't have enough lifeguards. what is the reason for this shortage? we talked to the folks at the american lifeguard association, teens her parents are wary to enter the workforce during the pandemic. on top of that, training and certifications have been delayed or canceled entirely during covid and finally the industry relies on a pipeline of foreign-exchange students

who are not in the united states because of the pandemic. as i said the folks at the american lifeguard association know the demand will be huge and swimming pools and beaches this summer so they say they are literally working overtime to meet it. listen. >> we know we will have people wanting to get out so we are adapting longer hours sometimes for the lifeguards, it is spreading us a little thin but we can handle it. >> some park district are even uping hourly pay for those lifeguards to try to lure workers, in other cases turning to retirees and older americans who might have more time on their hands and are interested in lifeguarding and i don't want to offend you but i did some rough calculations. i figure your show is over around noon, you could be a swimming pool at a lifeguard stand by 1:00 somewhere in new york or new jersey if that interests you.

stuart: i don't know if you know this or not but i can't swim. i never learned. >> i did not know that. you need lifeguards. stuart: i know you didn't know that. if you had known it you never would have asked me about being a lifeguard in chicago and that is a fact. you tried to get out of that, not very successfully. we will see you again soon. speaking of pools, look at that. a group of bears crashing a pool party in tennessee. the bears wandered into the pool, a group of students watched from the other side of the fence. this happened at a resort in the great smoky mountains. we thought you would like to see it. the white house passing the blame of rising crime in our cities. watch this. >> there has been a rise in crime over the course of the last year since the start of the pandemic which predates president biden. stuart: blame trump. another excuse, we cover it all in just a moment.

ronald reagan warned against embracing big government and that is exactly what president biden appears to be doing. we look at why he is being called the reverse reagan next. ♪♪ ♪♪ you say neither ♪♪ you say neither ♪♪ either ♪♪ either ♪♪ let's call the whole thing off ♪♪

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stuart: we show you beaches in florida frequently, why not show you the santa monica beach in california where it is 62 degrees and partly cloudy as of now. a few miles away the reagan presidential library reopens today after shutting down during the pandemic. connell mcshane is there. are they expecting a big crowd

today? >> a huge crowd this weekend, memorial day weekend, or thereabouts. reagan fans will be excited to get back in here. a lot to look at. one of the old presidential limos. if i was going to get a personalized plate for this library itself is best known for having a real air force one. i'm standing under the wing of the boeing 707. 26 foreign trips on it. over the weekend, close for 14 months i talk to the executive director of the financial pain. take a listen. >> i would say because of closure, 10 to $12 million in lost revenue is the result of having to lock our doors.

we didn't take a time in any of this ppp funds the reagan would have had, believed in smaller government, not larger government. >> on that final point, president reagan and the current president, joe biden, couldn't be more opposite in terms of their philosophies, big government versus small. president reagan might be disappointed with some in his own party and how they said handled things on the spending side in recent years but this library the big deal today opened up, a lot of plans, big names in the republican party, paul ryan will be here this week, mike pence coming, mike pompeo, nikki haley a long time in coming over a year. stuart: i remember when president reagan was invited to drive a chrysler car off the lot and drive off of the assembly line.

he jumped into the backseat. have a good time at the reagan library. amazon on your screen, the markets, the dow up, nasdaq, s&p, big-name bankers testifying on capitol hill, some fireworks today. senator elizabeth warren going at it with jamie dimon. >> some public numbers, did not overdraft. >> can you answer my question -- >> the fed account. >> i am sorry, that -- mister dimon, response to the question, you had a not a medic protection so i am asking,

recommended, the regulators recommended the same protection to their customers. how much in fact did jpmorgan collect in overdraft fees from their customers in 2020? stuart: an argument about overdraft fees? you side, there it was. next case, dow is up, markets up, and the police in portland have declared a riot. people were breaking windows, setting fires. this is the one year anniversary of george floyd's death. rising crime in the country, the white house says that was a problem before president biden. heather mcdonald is here to respond to precisely that after this. ♪♪ t?” then we talk like two old friends about sticky buns

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change the rise in violent crime, the white house's position is it is mostly because of guns. >> there has been a rise in crime for the past year since the start of the pandemic which predates president biden taking office. we are focused on solutions here. stuart: there you have it, jen psaki says the rise in crime

started before president biden took office. look at this. the number of homicides just this year alone, 2021, up 132% in oakland, 800% in portland, oregon and all over the place, but just this calendar year. heather mcdonald is with us. the white house says the crime spree started under donald trump. what do you think? >> it is ridiculous, the left does not want to admit it, i include jen psaki, does not want to admit policing matters, after the george floyd riots, to demoralized, crime went down in the rest of the world, the industrialized world during the shutdown, thanks to demoralization of the cops and the phony narrative about systemic police racism but

we've got an experiment coming up. let's make a date to get together after labor day. we will have no more coronavirus lockdowns we hope, so the pandemic excuse will be over. my bet would be crime will continue to go through the roof this summer because biden demonized the cops, and they will not be able to blame the pandemic for all these extraordinary outbursts taking place. stuart: i will not take that bet. i think you are probably right but i want to talk about systemic racism. you mentioned systemic police racism but that has broadened out into the whole society, we are told we are a systemically

racist society, what do you make of that? >> it is not true. name a single mainstream institution that is not twisting itself into knots to hire and promote as many minority candidates as possible, name me a single selective university that is not using masks of racial preferences to admit as many black and hispanic students as possible. if you want to get your child into harvard you better hope he is black because he will have four times greater chance than your average white or asian student. this country had a terrible problem of grotesque betrayal of its founding ideals for much of its history. the current situation is radically different. we are anti-systemic racist. we are pro-minority advancement, the vast majority

of americans are sick of this harping on racial identity, ready for the last decade to be post-racial and the elites will not let them. stuart: case in point, in oregon, where the school board is insisting the black lives matter flag and the pride flag be flown in classrooms, you are laughing but this is pretty serious stuff. >> it is a large movement of the country turning its eyes from what the problem really is in this country which is continuing academic skills gap. it is true that there is not proportional representation at google, say, a black engineers who are in elite law firms. the reason for that is not because google is discriminating against black engineers or sullivan and cromwell is discriminating, it is because there is a large

academic skills gap which means there are not competitively qualified minorities to go around in every mainstream institution. it is that problem we should be focusing on. instead america wants to blame it so for somehow phony phantom racism. mainstream institutions are not discriminating today. that is not the problem. the skills gap is. stuart: heather mcdonald, good stuff, thanks for joining us, come back soon, see you again. >> make the bet. stuart: here we go, the wednesday trivia question. and egg contains every vitamin except one. which one does it not have. i got this one right. i got it right. back after this.

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stuart: all right, we asked you the following question, eggs contain every vitamin except which one? and the answer is, reveal, please. vitamin-c. i got that right. i gaat that answer right. the egg yolk contains 12 of 13 vitamins. eggs contain all nine of the essential amino acids but no vitamin-c. i'm a grapefruit nut. eat one every day. that is how i get my vitamin c. thought you would like to know that. looking at markets a modest rally across the board.

tell you this, big name bankers are testifying on capitol hill. jamie dimon, top banker at jpmorgan. he expects inflation to go considerably higher than 1.6%. the fireworks came when he argued with senator elizabeth warren of overdraft fees amongst other things i'm sure. perhaps the good banker was trying to defend capitalism from the socialist elizabeth warren. that is my point of view. neil, it is yours. neil: stuart, thank you very much. we're monitoring the hearings. day one today. they will be back on the house side tomorrow. they were getting a royal beating from republican sharp questions. we'll tell you about that later. this hour we got the industrials are up. financial issues are up. in this type of environment where inflation picks up, those ironically some of the stocks making investors richer, if not bank customers might not appreciate some of the paltry returns they're seeing in their own savings accounts here. all these banking