maria: have a great day, everybody. that'll do it for us, "varney" & company begins right now. stu take it away. >>stuart: i shall and good morning to you, maria and good morning, everyone. okay i've been away for a couple of days and i've come back to find some very strange goings on we will try to explain all of this in the next three hours. i'll start with amc. a huge gain, now this is pre- market up 19%, it was up what 20% yesterday. they sold a lot of stock, and the buyer promptly turned around and resold the stock for a profit, but the price is still up again this morning, 19%

higher. so-called meme stocks bounce to a very new and different drummer , don't they? so do the cryptos up today pretty much across-the-board, the bitcoin still shy of $40,000 but it's at 37.2 and ethererum, solid gain there at 2,700 almost , and doge quoted at $0.43 and it's possible that doge will be listed on coinbase pro in the near future that's why it's up so much. last time i was on the show was friday of last week, $0.33 for doge, this morning $0.43 it's wednesday. the old world stock market relatively calm this morning. the dow is going to be up about 85 at the opening bell, and we have an s&p and a nasdac gain as well. nothing huge, just some green on the left-hand side of your screen. question? do we have an inflation problem? yes, if you look at the price of oil getting close to $70 a barrel, 68.42 right now, yes,

we've got an inflation problem if you look at grocery prices, the federal reserve thinks inflation is temporary, if they're wrong, look out below. jbs says its meat plants are coming back to production and they think the russians shut them down, but you have to ask, after the pipeline and the meat packers, whose next? and what will president biden say to vladimir putin when they meet later this month? oh, here we go. elon musk back making headlines, that is his specialty. he tweeted about a song, baby shark, got that? the wall street journal says tesla failed to oversee musk tweets over the last couple of years. will the authorities ever crackdown, what is this guy up to? we will get into it, believe me. wednesday, june 2, 2021 "varney" & company is about to begin.

you see a bit more activity on sixth avenue in new york at 9:02 eastern time, i've got to get back to this largest cyberattack on the largest meat supplier in the world, that's jb s that wiped out 1/5 of our beef capacity. susan, good morning to you. are the russians behind this attack? reporter: yes according to the deputy press secretary the attack did originate from a notorious criminal group based in russia called revel, and they attacked taiwan's quantum computers in the past which affected apple and even the louisiana elections in 2019 and now all jbs beef plants in the u.s. were shutdown last night according to the worker's union but jbs this morning said they made significant progress to resolve the cyberattack and that vast majority of its meat plants are operational so that includes beef, pork, poultry and

prepared food plants that are operational this morning. we know that jbs is the world's biggest meat supplier and they sell their north american and australian plants shutdown by this hack attack. we're not sure how much and if they actually paid this ransom but a lot of people do think that they did, given that this comes what three weeks after that colonial pipeline hack where they paid a reported $90 million, some in bitcoin in order to get those pipelines reopened. stuart: yeah, what's next, we'd love to know. we'll get to that, char galani joins us right now. we want to talk about inflation here. i see inflation just everywhere whether it's energy, grocery prices, meat prices, i mean, you name it, and it's up. inflation is up. the fed thinks it's temporary. that's a huge problem, isn't it if they're wrong? >> it's a monumental problem, stuart if they are wrong. right now, it appears that they still maintain their transitory position that inflation will pass and a lot of it is supply

chain-driven, and as that supply chain tightens up as the economy starts to open et cetera et cetera, then a lot of the prices will start to come down. i'm not so sure. i think we're starting to see more structurally-inclined inflation and that's problematic because that could drive interest rates much higher. right now, they are very subdued the 10 year which is what everybody is watching and should be watching the yield there is about 1.60 that's down from 1.74 and its been very quieted so far , so good. strategist yeah, but, you don't know whether this will hold. you sense that maybe we're in for some trouble, in the next few months, right? >> i do, because my analytics show that there are tremendous pressures across the economy, and consumers, as far as their households are, where individuals are, they are in great shape, so companies have pricing power, in other words they can raise prices and consumers are able to pay that. that's a problem in terms of inflation if they weren't able to pay that we wouldn't be able to see price wise but we'll be

able to see that because i think the economy is in good shape and consumers are in good shape. stuart: got it hold on for a second, please i'm just going to turn away to a different subject mudrick capital, you may never have heard of them but you're hearing about them now, 8.5 million shares of amc and then turned around, sold them at a profit, and i don't get this. the stock, amc, is up again this morning. reporter: correct that's right so despite the fact that you had this sort of pump and dump, amc entertainment the stock is really just shaking it all off. the reason why mudrick capital so they sold was because amc is grossly over-valued in their view. now we just bought in yesterday morning a $27 a share so they probably sold above $30 yesterday and you also have to remember that amc rallied 23%, 24% at the open, because of that mudrick capital raise where they raised about $230 million so you have a lot of people pointing at the transaction saying where is the sec in this it's kind of like a classic pump and dump

where you pump up the shares you're buying and you dump the shares surge on the back of the news and it's also unusual by the way to raise cash from one buyer in the share sale and then the fact that they flipped it right away is also very rare as well, but as i mentioned to you, no one seems to care, we're up another 20% this morning, and just by the way, amc is playing a very good pr game when it comes to talking to their retail investors because it mostly is retail-driven so the reddit wall street bets crowd and they are offering to reward investors with free popcorn, and exclusive screenings, and that's, you know , they know whose pumping up the stock and they are talking to them, given that amc is up 1,400% this year. stuart: that popcorn makes all the difference, does it not? >> with extra butter, yeah. stuart: char, i've got to get you back in here. look. we've said this many times. what do you make of the financial world with a big chunk of it is being run by guys

looking for headlines, pump and dump. cryptos, meme stocks. doesn't that, it worries me about the whole financial world. what do you say? >> on the margins and increasingly those margins are winding, yes. there's a lot of speculation and it's particular the meme stocks also some of the cryptos i think , and they're also, the spac universe has gotten very fluffy so there are segment s in the marketplace that have, i think, gotten fluffy and that does create some issues for the rest of the solid investments that people should be following but i do applaud retailer investors and traders being in the market and that's an absolutely positive for the country for consumers and for certainly the traders and investors who are new to the market, we're doing a bang-up job making money for themselves, i think right on, keep going. stuart: it's a whole new world, shah gilani, i'm not sure you understand it, shah, thanks for being with us.

next case, jpmorgan. they're weighing in, again, on bitcoin. what are they saying, susan? reporter: they are saying that big institutional investors like hedge funds and retire the funds aren't that interested in buying the bitcoin dip and that's why we're still trading below $40,000 a coin and this is despite the fact that you have a 35% discount now in bitcoin prices, so jpm says they continue to see investors taking money out of bitcoin funds, and where is the money going? it's going into gold. the traditional type of hedge and that's why jpm says medium term what they see for fair value for bitcoin is roughly around 24,000 to 36,000, and they're noting the failure to break above 60,000 for bitcoin was kind of a resistant signal so a bearish indicator for where prices are going and jpm says we're not at oversold levels meaning investors aren't starting to bargain dip just yet on bitcoin. stuart: just yet. reporter: just yet. stuart: that implies they will. we shall see.

reporter: it'll be interesting. stuart: it sure would. coinbase may open up to dogecoin through something called coinbase pro. i guess that's not for everybody right? reporter: i don't know about that, because everybody can sign up for a coinbase pro account. i have one. you don't need to be a professional. i think that don'ts people when you see all of these charts and information on the screen, but still, you know, coinbase pro is going to offer trading on dogecoin tomorrow, starting tomorrow, so we're looking at two-week high for dogecoin itself. i saw $0.42 the last time i checked dogecoin prices so we're up about 22% the past 24 hours, and yes, coinbase pros, first of all, starting yesterday, you could start transferring in your dogecoin, full trading starts on thursday and you hear the term coinbase pro, which coinbase says it's a free professional platform to coinbase, which is the regular one, but this is maybe warns that professional traders should be trading dogecoin and not just the average guy, but you know, it's the first time that

dogecoin will be available on the world's largest crypto exchange, any coinbase, because before you could only trade on bitrix and kracker, so more usability means the prices could go higher and they have. now elon musk he seems to never be one to miss a moment here stu so he retweeted this dogecoin meme that dogecoin is going to take over the global financial system, you see there, and it's worth about $54 billion this morning so no longer a joke , because it's bigger than kraft heinz, taco bell and owner of yum brands which is the owner of yum brands and then viacom cbs and almost three times the size of game stop so when you're worth $54 billion is that necessarily a joke anymore? stuart: no it's not a joke at $54 billion maybe the joke is on us for putting 54 billion into a joke coin. reporter: oh, gosh it depends on how you see it. some people like decentralized community building and value so 54 billion i don't think is a joke anymore. stuart: okay. let's see how you trade it. if you do trade it.

[laughter] if you make any money, good luck good luck i mean that. reporter: thank you. stuart: quick word on mortgage applications this morning. 2% lower than the same week a year ago. this is the second straight week that purchase demand was lower, not really much into that. refi's 6% higher than a year ago not much change in the mortgage market. i've got to bring this to you. i mean this , heartbreaking scenes, like this , are becoming all too common at our southern border. roll the new tape, please. >> [child crying] >> no, no, no! stuart: dear lord. that is a 5-year-old boy abandon ed at the border by smugglers we'll tell you what happened next, and we've got a report from the border, too. >> switching gears, the chip shortage, big problem all across the world.

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>> ♪ looking for some hot stuff , this evening ♪ stuart: hot stuff, yeah, good song, from las vegas this morning it's already 77 degrees on the strip out there, it's only 6:15 in the morning it's going to hit 104 in vegas, just a little later today. then we have the sec, it says,

elon musk has violated an agreement with them. let me guess, susan. this is about the tweet but nothing will happen. reporter: right, and does this really surprise you at the end of the day, given how much tweeting we've seen over the last two years, since 2019 settlement with the sec when elon musk was fined, had to have his tweets vetted or edited and this goes back to misleading investors remember where that funding secured for 20 tweets? well according to the wall street journal the sec has said look, tesla and elon musk, let's get this together. last spring apparently they did not like the fact that he may have allegedly violated terms of that deal, significantly, not happy about his tweets, but said tesla stock was too high, or discuss solar panel and the roof top production numbers with the attorney's approval but regulators apparently continue to monitor his social media activity during the pandemic. they didn't really file a motion , to compel or follow the settlements orders of having his tweets over seen or edited

or vetted before he puts them on the internet, but by the way, here is interesting news and tell me you find this interesting. you know tesla has applied for three restaurant trademarks? stuart: yeah, i heard about that apparently, you can drive up your tesla, eat a meal and re charge your tesla, while eating your meal i believe that's his plan. reporter: okay. well, there's no fumes at least to pollute your food so maybe yeah, okay. stuart: [laughter] that's true. all right, let's get serious. that means we move away from elon musk for a moment. look at advanced auto parts, they reported this morning, great report. they tripled their profit thanks to record sales growth. the stock is up about a half percentage point. the ceo is tom greco and he joins me right now. tom, congratulations, a fine report, obviously. i really want to know about this chip shortage. it's affecting all kinds of industries, yours included. how long do you think it's going to last, realistically,, how

long? >> well, good morning, stuart and thanks for having me. first of all the chip shortage is obviously a pretty big impact on new vehicles. new vehicle sales in america, last year dropped to about 14.5 million vehicles and this year was kind of trending at around 17 because of the chip shortage, that essentially is going to reduce that number, the 12-month number for 2021 to in the 16 range are the current estimates. for us, i mean, what it means is that it's going to elongate the time people get a new vehicle. it's going to mean more used car sales. it means an aging fleet, and candidly, that's very good for my business. older cars need to be repaired, and maintained more often, so that's a good outlook for my business, but obviously, it has an impact on new cars. stuart: does the chip shortage, although it doesn't affect you

directly, does it lead to rising prices? is it part of the inflation scenario? >> well, i mean, we're obviously seeing inflation across, you know, many many categories including in our industry so i do believe you're going to see some level of inflation in the automotive sector over the course of the next foreseeable future at least. stuart: how come you're moving some of your operations or moving into california? we run stories all the time about people leaving california. people with money leaving california but you're expanding there. why are you doing that? >> yeah, well we're really excited about the move to california. we announced this morning in addition to california, we announced a longstanding independence in oregon is joining the advance family as well with 29 new stores out in oregon. the short answer, stuart, is we just don't have any presence on the west coast, and we have a

very very strong value proposition that we've been building out over the last several years. parts availability, we're building great brands, we acquired the die hard brand about a year and a half ago and its been enormously successful, and when we sell to our professional customers who operate garages all over the country, we're not able to serve them in big markets like los angeles and portland so that gives us a presence in those markets. there's 31 million vehicle in the state of california. it's the largest vehicle population in the country, so for us to go out there, it's just a huge opportunity for our company. stuart: i hope it works out for you. tom greco, thanks for joaning us this morning, advance auto parts , a great report and your stock is up just a little bit. thank you, tom we'll see you again soon. quick look at futures this wednesday morning here is how we're going to open, higher, pretty much across-the-board. it's not a major rally but there's some green there. one more look at amc, please.

i guess you could call one of the stocks of the day is now up 19%. dennis gartman thinks that you are going to have to pay more at the theatre because of what's happening at amc stock. he is next. >> ♪ ♪ ♪ before nexium 24hr, anna could only imagine a comfortable night's sleep without frequent heartburn waking her up. now, that dream... . ...is her reality. nexium 24hr stops acid before it starts, for all-day, all-night protection. can you imagine 24 hours without heartburn? in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right.

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here, better protection costs a whole lot less. you're in good hands. click or call to bundle today. i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis. and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion.

we spoke up and it made all the difference. ask your healthcare provider about nuplazid. stuart: meme stocks let's get back to them look at left-hand side of your screen, these so-called meme stocks are going straight up this morning, especially amc an 18% gain there , for amc it's now at 37.95 and dennis gartman is with us. you're telling us that this price, the amc stock at $38 a share, means we're going to pay more for our theatre tickets , is that the connection you're making, dennis? >> well what's going to happen here and they are doing the right thing in management. this is a stock trading under $2 a share at the turn of the year now it's trading what 38, 39, 37 , 36, pick a number. it's going to go wherever it wants to go because the shorts are caught in a very uncomfortable position, but management is doing the right thing and selling more shares into the market that's what the

they should do. they should be raising capital. the president of the company said he was going to go on offense at this point given the fact he can raise capital so dramatically and so easily right now and he'll end up buying other movie theatre chains and other private theaters around the country and endoscopy up having, a short squeeze in the theatre business in the not too distant future predicated upon the short squeeze on the stock itself. it's complete nonsense as my good friend gary shilling said the market can remain irrational far more longer than you and i can remain solvent but management of amc is doing the right thing buying capital and using it to buy more theaters and that costs consumer s more to go to the theatre later this year it's an interesting phenomenon going on, watch it from the side line, god bless the people on reddit making a lot of money but this will end eventually badly and end in tears as they always do but it could go on for a while long. stuart: wait a second, when you say it will end. okay, i'm not quite sure i understand that. you mean amc or game stop or

costs or some of the others, they just go down to virtually zero and the cryptos go down and disappear? i mean, when you say it ends, how does it end? >> it'll end when the shorts have covered, it'll end in one buying offense and one or two days period of time, maybe today is the date, who knows. these things always do end eventually, and they always end badly, but for right now, would i sell it short? not with more money. would i buy it? not with my money. would i watch it from the sidelines? there will be books to be written and articles to be published and sometime in the future this will end badly when it ends, but who knows when it shall end. your bet is as good as mine. stuart: okay i'm not betting on it either. dennis, thanks for joining us, short and sweet and to the point right before the market opens. cheers, dennis, see you again soon. the opening bell will be ringing in 29 seconds, and we're going to take you to wall street for the opening of trading.

we're looking for some green. the dow should be up about 80, s&p up about 7, nasdac up about 17. the yield on the 10 year treasury actually just dropped below 160, strange with all of the talk about inflation. >> [opening bell ringing] stuart: that's an important indicator, 159 is the latest quote on the 10 year treasury and the nasdac is up about 17 points; however, we're now starting trading, where will we go? right from the opening bell, we'll tell you, because we're covering it right now. the dow is up 70 points right from the start, way more than half of the dow 30 are in the green. the s&p 500 also to the upside, not a huge gain by any means, .13% as we speak, and the nasdac, that is up again, not a huge gain, with a yield on the 10 year dropping below 160, nasdac is not getting much of a boost from that you're up .06%. i've been saying that amc is the stock of the day and i maybe wrong. it could be zoom.

the conference platform, conferencing platform that everybody has been using. they got blowout earnings report , 191% year-over-year sales growth. they are warning of a possible slow down as the country opens up. the stock is up 257 and 330 have i missed something susan? reporter: i just think zoom has beaten every earnings quarter since it became a public company and the fact that you had 191% sales growth was disappointing given that you see 300% growth each and every quarter, during the pandemic and they're saying look it's a reality that people are going back to work, they are going back-to-school so there might be less need for zoom and they are only, only forecasting 50% jumps in sales for a lot of other companies that be great for zoom, i guess that's a sharp slowdown for them. stuart: [laughter] yeah, terrible only a 50% gain, good lord. reporter: yes. stuart: sofi, that's the online finance company, i know they made their debut, apparently they did quite well, susan?

reporter: i don't know do you think 12% is quite well in these times? i mean you saw 70% for airbnb more for doordash last year and snowflake and it's even below the 30% jump you saw for oatly, your favorite oatmeal company on day one but this is more of a spac deal so maybe it's valued a little bit differently sofi is the online finance company and the spac deal involves well known venture capitalist over in san francisco and social capital spac and sofi was last valued at around i would say under $6 billion in private rounds, but i think oppenheimer this morning is calling it $25 stock so yeah, you're trading above that level, definitely. stuart: okay, let's recap where we are after two and a half minutes of business on this wednesday morning. we've got the dow winners headed by visa, which is up over 1%, boeing is doing well as well, so that's helping the dow industrials. the winners among the s&p 500, top of the list is invesco,

motor all la is up there as well , along with mastercard, visa doing well and mastercard and so too is etsy. nasdaq winners, no there's not, nvidia, i like to call that a big tech company powering ahead, yeah you're right, susan, it is, nvidia definitely a big tech. reporter: world's largest chipmaker. stuart: still up for 4 for 1 stock split. reporter: we're expecting that june 3 so it should be coming tomorrow so it looks like the shareholders will approve that 4 for 1 stock split and in these times stock splits are seen as a bullish signal and look at the performance in a lot of these semiconductor chip names, advance micro devices, i mean, it's really been across-the-board, lamb research. stuart: what have you got on microsoft this morning? i know it's moving. reporter: well, i know you're looking at it, obviously, so you know, i saw kgi securities coming out with pretty big upgrades and saying that

microsoft could be worth $300, roughly about 20% up from here and we're looking at this dominance in cloud, you know, this catchup to amazon and amazon web services with azure but not just microsoft, yeah, kg i outperforming on facebook and you'll like this , i raised my eyebrows at this price target, $420 for facebook, what do you think of that that's almost $100. stuart: 420? reporter: yeah. stuart: whoa. reporter: that's almost 30% more from current levels. stuart: i guess they're saying there will be no breakup of facebook, and no serious regulation which hurts their business model. i guess that's what they are saying. reporter: and that's kind of what the market has been telling you as well for facebook is that no one really expects them to retroactively breakup the company and i just want to throw in they think salesforce is worth around 280 so you still could get $50 from here. stuart: very bullish on all of them. what about hewlett packard? reporter: they just reported

earnings as well and we saw first year-over-year sales growth since 2018 for hewlett packard enterprise, don't forget they split up the business so we have the printer business reporting last week and this is more the i.t. software business , which is doing well and also we did see a drop when it comes to the hardware profit margin so that was a bit of an overhang also there. stuart: i should point out the bottom right hand corner of your screen the dow just turned south it's now just down 10 points. can i see , please, scott's miracle grow? they raised their full year outlook, they expect the pandemic-led sales boom to continue, and they're up a fraction, i think a lot of people use scott's miracle grow to grow their own weed at home. i'm told that, anyway. reporter: [laughter] stuart: let's see. taiwan semiconductor. do you know more about this , susan? huge chipmaker starting production in arizona? reporter: that's right. we talked about the $12 billion investment there in arizona, right? so taiwan semi, one of the world

's largest chipmakers there the foundry that helps make the chips that apple design toss go into the iphones, the ipads and the like, so they nstron tthantlantn in in a izonicizonicomesh lsotff bso as iviviviviv and say t she remain oemnrack t t t sth, yeahich threeoro in02 sarsway.way. got've a sagert, ,mc wrehere w ws of nowto, doou y h yein new?ne 9 u.89.88% any anygin n,,, sun? a lookkt howoweoe he ssus off mudricmu pital a was a w pump and snre ss27 gy bou d k wtbove0ve and thadddhen t dumped and flipped that and turned it around really quickly and you have amc doing a great job talking to their investors which is the retail wall street bet reddit crowd this morning they say we will give you free

popcorn and also exclusive content, and yet, adam aron, whose the amc ceo really taking to social media and just directly speaking to people that he knows are buying in, which is the average joes. stuart: yes, it's extraordinary that we have to spend so much time on meme stocks and cryptos, and we don't spend much time on the $44 trillion worth of publicly-traded stocks that america has. reporter: wow. stuart: it's such a difference. reporter: can i note that goldman sachs did downgrade to two cinema providers imax and cinemarc, we came of that $100 million box office weekend during the pandemic, so they are saying it's going to be slow and to recover and right now the prices reflect all of the good news that's been baked in. stuart: what a difference, amc, what a difference a day, contrast. market check. big board now is mildly positive , just five points higher for the dow.

the 10 year treasury, where is the yield as of right now? are we back, yeah, 159 on the 10 year. where is the price of gold? $1,900 an ounce he asks where are we? 1,908 and bitcoin i think around 37,000 at last check, 37.6 is what we have now. oil $68 a barrel, and rising, and the gas price, yeah, 68 even , and the gas price is holding steady at 3.04 that's the national average, and i'll tell you this. in california the average price for regular is $4.20 a gallon. how that? it's a kid's song just can't get it out of your head once it's in can't get out. roll it, please and now by the way, elon musk is tweeting about it. listen to this. >> ♪ ♪ ♪ stuart: it's in my head, it's rattling around there and by the way, "baby shark" is back and ready to tour across the country

with live audiences. the guy whose running the show is on the show, shortly. >> amazon supports legal marijuana, but that's not all. they will no longer test some of their workers for weed. we've got that story, next. >> ♪ we're jammin, i wanna jam it with you ♪

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stuart: this probably doesn't have anything to do with the stock price but amazon is backing a federal bill to legal ize marijuana, and then some of their employees, lots of their employees, are being screened for weed. that seems like a real change of direction, susan and a plus for the marijuana industry. reporter: that's right. well big check mark given that we have a revisit in federal

legalization for marijuana bill, but first, look. amazon is now treating weed like alcohol which means off-work employees can now enjoy a beer or enjoy some weed without any fear of punishment, but just like with alcohol, amazon will continue to do impairment checks and screen for drugs, after on-the-job accidents, they say, now almost all jobs at amazon will be exempt, except those regulated by the department of transport so truck drivers, heavy equipment operators, those applicants will continue to be screened for marijuana, and as i mentioned to you last week, ressurecting that bill to federally legalize marijuana that failed in the gop senate during the trump era but so far we've had 17 states legalizing marijuana still far below the 50 obviously but this is a plus for amazon workers. stuart: if you open it up at the federal level you open up the entire industry in a very big way and i think that's what the marijuana folks are hoping for and expecting actually. one more thing, on amazon. i don't know whether you notice

or not but prime day will be on june 21 and june 22 of this year quick look at walmart. in all stores, starting saturday , expanded store hours, 6:00 a.m. to 11 p.m., and then also keep their weekly seniors hours that began during the pandemic. target joining a growing list of retailers reopening their dressing rooms i'd call that another signal that we are returning to normal. now land's end, please i believe the stock is up this morning they posted a profit in their earnings report today, and, better yet, they raised their full year guidance for sales and earnings. jerome griffith is the ceo of land's end and jerome joins us now. i always thought of you as a catalog company, but you're not anymore. you're 95% online, right? >> that's correct. we're the first company to sell clothing online back in 1995, so our shift away from print and

into digital is continuing. stuart: what are you going to be selling now that the pandemic is winding down and the lockdown is just about over in most places, what kind of clothing are you selling most? >> this season swimwear has been extremely popular for people getting ready for vacations and traveling but the big categories for us really are knit wear, sleepwear, lounge wear and anything that's comfort -oriented. before the pandemic started we had an advertising slogan, " let's get comfy" and that's seen good resilience throughout the pandemic and into the return to work. stuart: and you think that's going to continue? the comfy clothing continues, right? >> absolutely. i think people have found out that comfort is here to stay. they like the experience of working from home and you'll probably find lots of companies out there that are going to come out with a new hybrid work policy, part time in the office and part time from home, or remote, and people are finding that comfort is something that

they really like and they enjoy it and they are happy to continue. stuart: is this it for as far as you can see? you are an online clothing seller, you're not going to start any kind of brick-and-mortar stores? >> we have a few stores today. we have 31 across the united states. they are really customer service centers for customers that want to interact with us in a physical manner, but no, we've been putting a lot of investment s into our online platform, our ai platform and our marketing platform over the course of the last four or five years, and we saw it really beginning to pay off as we were going into the pandemic, then obviously, there was a dip in march and april and people didn't really know what was happening in the economy, but those investments have really paid off for us over the course of the last several months, and as we look at who we're selling to and you can see a huge increase in internet shopping and demand, that increase has come from gen x'ers and baby

boomers and they are right within the middle of our target market so we see our target market really expanding almost double of where we thought it was before, and those numbers are playing out right now. stuart: congratulations, jerome, because that's a spectacular report and a first class outlook and your stock is up over 3.5% thanks for being with us this morning, we always appreciate it. land's end guy, thank you. etsy just announced plans to buy the gen z focused fashion resale app, it's called d-pop. they got to pay $1.6 billion for tax i guess, susan, you know all about this , dpop is reaching a much younger audience what does it do? reporter: yes, so i'd call it concession, because it's kind of like a secondhand fashion retailer, and this is a big price at 1.6 billion mostly in cash, mind you and etsy can afford it since they more than doubled over the past year during the lockdown, the covid

lockdowns and something but you're right it enables them and allows them to attract a younger audience, detop was founded in 2011 in the uk and i saw a lot of savvy social media use and messaging especially on environmental and ethical shopping issues, which attract a lot of young shoppers, and etsy ceo calls it the resale home for gen z consumers, 30 million global users on depop , not bad and i also saw the fact they are going to keep it separate from etsy so they aren't rolling it into one app. so they will stay separate. stuart: depop isn't one of those sites that sells used shoes is it? reporter: well i would imagine that, yeah, concession, secondhand, there might be some used shoes, you have a problem with used shoes in particular? stuart: i just asked about it. it fascinates me who would buy a pair of used shoes, but -- reporter: who would buy secondhand underwear, that's what i'm thinking. stuart: oh, stop it, please.

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stuart: that's a rather dreary morning in san francisco, cloudy and 52 degrees livened up by " day tripper" from the beatles. next case we hear about inflation these days and yes indeed prices are going up, look around everywhere you look prices are going up. jeff flock is at a restaurant in the chicago suburbs and jeff, can you just spell out which items are we paying more for? reporter: pretty much, stuart, everything, but i will spell it out for you. we are in a place in the chatter box restaurant, long grove, illinois. you don't normally get to see this , this is behind the scenes, this is michael and his beautiful wife's restaurant, the chatter box, everything costs more now. >> oh, yes, everything just keeps going up 10% a month, and the huge increase this last

month. reporter: let's give stuary varney some examples because some of this stuff has doubled. let's look at the cooler here what do you got? >> this is my chicken, a 40- pound case, on 5/1 was 7.8 and today, it's $130. reporter: so this is almost double totally doubled in price. >> yeah. reporter: and this is true of a lot of food items you see obviously of this sort of stuff. >> even my plastics, i mean, you go to a 9 x 9, 10 clear, this was $28 on 5/3 and today, it's $78. reporter: wait a minute say that again? how much? >> 28 went up to $78. reporter: for plastics and this of course now with the pandemic you've used a ton of this stuff. >> oh, absolutely. reporter: what about help right now? >> we can't get help. i mean, i would normally be out there talking to my customers, shaking hands, and making sure they are happy. i'm in the kitchen, i'm washes dishes, busing tables, i can't

get help. if there's help please come help us. reporter: what's arlene doing? >> she's seating people and running around doing everything she can to help. it's terrible right now. reporter: have you ever seen arl ene, anything like this? you like to be doing normal stuff. >> absolutely we both have other businesses as well, so we're just trying to do everything we can to keep this going. reporter: okay. mr. "varney", i tell you if you need a job, they need help here. stuart: that was a first-class report on inflation, jeff, because you showed us the reality of inflation from that man's perspective. that was really cool. jeff flock, you're all right we'll see you again soon. yeah, it is you can see it. still ahead on this program, liz peek, bob doll, olympic gold medalist apolll ono and tommy la ren: never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does.

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♪. stuart: good morning, everyone. it's 10:00 eastern. let's get straight to your money. seeing a little bit of green. the dow industrials on the upside to the tune of 70 points. the nasdaq is up 10, modest gains. the 10-year treasury, that's down, the yield that is, down to 1.5, 1.6%. that is still a pretty low level compared to where it has been recently. bitcoin and the cryptos, all of them own the upside.

bitcoin at 37,500. ethereum at 27,029. and now this. it doesn't feel like an attack, no explosions, no wreckage but america is being attacked. almost certainly by a foreign power. the pipeline shutdown was an attack on our energy supply. the shutdown of meatpacking plants was an attack on our food supply. looks like a demonstration of power by our enemies. you can dress it up. you can pretend it's a gang of criminals simply out to haul in bitcoin but it has to be more than that. you don't disrupt energy and food supplies for a country as important as the united states unless you're out to play high-stakes politics on a global level. can we stop it? apparently not. these attacks proceed one after another. the pipeline three weeks later, maid production. who knows what's next? what are we doing about it?

it's a test of biden's presidency, just like china and the origins of covid, iran and hamas, central america and the border, all challenges to a new president. but these ransom attacks inside of america are particularly troubling because we don't know what's next. and so far to our knowledge we've been not able to stop the attack or punish the attackers. president biden meets vladmir putin in geneva two weeks from today. this is no time for weakness. the second hour of "varney & company" is about to begin. ♪. stuart: liz peek joins us this wednesday morning. liz, welcome back, good to see you again. do you think president biden can stand up to russia and respond effectively? >> stuart, the answer is no. biden cannot even stand up to the teachers unions or the

progressives in his own party. he is a weak president, polling actually shows voters agree that he is a weak president. guess what? that is what foreign adversaries are looking at, whether it is china or russia or iran, they know we have a president who is not putting america first. how we long for those days when trump made it unequivocally clear that we were going to put america first. remember joe biden's first big international outing was on earth day where he promised america would cut our emissions 50% a wildly risky and costly promise, got absolutely no promises in exchange from india, russia, china, other people who need to come aboard if in fact the world is going to slow the rise in emissions. so i'm afraid everything joe biden has done so far would encourage this kind of attack. by the way, it is not completely coincidental i think that this

food, this hacking of a food supplier will mean higher costs. one of the things that is definitely undermining the biden administration right now and certainly undermining their agenda, grandiose spending plans is inflation. what better way than to basically hack a pipeline which drove up energy costs and gasoline prices, hack a food supplier where meat costs surely go up in response. this is i think calculated. it's very clever and it will be very, very interesting to see how joe biden brings this up to vladmir putin in two weeks. stuart: what about with china? we want to know the origins of covid. we're pressing china, come clean. we want to know the origins. will the president confront beijing over covid's origins? how far will he go? i think he has the support of america and a lot of other countries too. this is a prime condition where

he could press hard? >> he is not pressing hard. so far all he has done is ask two groups to further inquiries which will go absolutely nowhere because china continues to hide the fact, hide their records from their lab that is now thought to be probably the center of this virus. he cannot stand up to china, stuart, because he needs china's acquiescence to further his climate agenda and he needs their help in getting back into iran, the iran nuclear deal but the bigger issue, something that the liberal media has completely refused to talk about is that the biden family may be compromised or the chinese government may have compromising material on the biden family owing to various financial transactions that hunter biden and other bidens have engaged in in china, not only when joe was vice president but also in the years after. i think that is a serious

problem for joe biden. i think it's a serious problem for the united states. stuart: all right, liz peek we'll leave it there. thanks very much for being with us. we'll see you again real soon. i will go back to the markets. we don't have that much. not in terms of stocks prices. nasdaq up 60, up just 10. limited gains. bob doll joins us. bob, i hope you're watching. agreat report from jeff flock in chicago who laid out inflation at the ground floor level. he showeds chicken prices, plastic container prices simply gone through the roof. that's inflation. the fed thinks it is temporary. what say you? >> certainly part of it is temporary or transitory as they call it, stuart, not all of it. so many things are up, up a lot in price. but you know, when you throw money at something, one of the

classic definitions is too much money chasing too few goods. you add a few supply disruptions, inevitably you get inflation. i think inflation will be tough for the fed to keep under control and the pressure will mount on them to make some changes. stuart: the key indicator i should watch if i'm looking for a inflation indicator is surely the yield on the 10-year treasury. at the moment it is 1 . 60%. that does not tell me we have an inflation problem. is that the indicator to watch? >> that is a good one, one that markets pay a lot of attention to. on december 31st, that same piece of paper yielded .93%. we're up a bunch. my guess the notable move in yields will be to the upside. we're taking a pause because we got ahead of ourselves. there is some evidence of a little bit of slowing here and

there. sentiment has come down because consumers are concerned about this inflationary push. so rates i think will be higher x months from now than they are today, stuart. stuart: do you have any comment on amc going to $40 a share? it just hit 40. do you any comment on dogecoin which hit 41 cents this morning? can you tell me what is going on with all of this because it is not going away, is it? >> no, it's not. it is speculation. it is hard for all these piece of paper you mentioned to analyze them to come to the conclusion they're inexpensive and buy it. i think these things are moving up, because somebody thinks somebody else will take it off their hands at higher price. that is speculation. doesn't mean you can't make money at it but not my clients money. stuart: not your clients. very interesting, the thing is

in the tale right there. bob doll, congratulations on your new job, you have gone to cross mark. i hope things work out for you. >> thanks, stuart. stuart: susan come in please. apple still meandering around mid 120s. susan: we got a headline and report, apple, several top managers from the self-driving unit apparently left the company. there is questions what does that mean exactly for the apple car, the future apple car a lot of people are anticipating? the stock lost some of its leadership luster according to a recent bloomberg report. it has stayed flat since earnings at 125 or so. want to show you caterpillar, they say higher commodity prices are a net positive for them, kind of makes sense, right? since they are a heavy machinery maker, and benefit from the reopenings, and you need heavy machinery to build stuff. amazon, prime day,

june 21st, 22nd in the u.s. they announced they are postponing a the event in india and canada with ongoing covid restrictions in the specific countries. tesla, recalling six thousand of their model 3s, from 2021. concerned about loose bolts on the brakes which could lead to loss of tire pressure. 6,000 cars. not at lot but they delivered 180,000, a record of 180,000 first quarter of this year. it's a pretty negligible number. stuart: what is good for tesla sales, especially in california. in california the average price of a gallon of regular is $4.20. susan: really? stuart: yeah. 4.20. that is regular. the average price for california for regular. if you go up the scale to premium grades you're looking at five dollars on average. tesla electric looks a great deal more attractive shall we say. susan: over the weekend during

memorial day weekend pictures uploaded on social media of five bucks plus in los angeles for regular. stuart: yeah. do you have the latest on jbs, the meat supplier, are they back in business fully right now? susan: looks like the update coming from jbs themselves. they had made significant progress to absorb the cyberattack. the vast majority of their meat plants are operational. meat, poultry, prepared food plants across the country. the agricultural department didn't real lose the daily wholesale prices because of jbs smutdown. jbs accounts for one fifth, 20% of beef supply here in the u.s. they're the world's largest meat supplier. north america was shut down, including canada and because of the attack. look likes russia is the culprit according to press secretary. this is notorious group called

rebel. they attacked apple suppliers. attacked the louisiana elections in 2019. now we're not sure how much the ransom is, whether or not jbs has paid ransom or they asked for the ransom to be paid in bitcoin t comes back to cybersecurity. again russia attacking the infrastructure and the vital pipelines, whether it is food or oil or gas right here in the u.s. there has to be a rethink on heightened cybersecurity. stuart: yes. this is not just a criminal gang. these are state actors controlling the shots, attacking america. that is my position at least. susan: yeah. stuart: susan, thanks so much indeed. i have this warning. do not try this at home. you've seen this before maybe a teenager squares off with a bear to save her dogs. full story and the video coming up. from speedskating to crypto, olympic gold medalist apolo ohno, talking about the 2022

winter games in beijing and why he likes cryptocurrencies. he is on the show. first the lieutenant governor of idaho taking matters into her own hands, banning the state's mask mandate when the governor was out of town. she is here. she will explain why she did that after this. ♪. before nexium 24hr,

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♪. stuart: there's a band from the distant pass, or seems like it, the b-52s. you are looking ad idaho. 63 degrees. by the way it is going up to 92

and sunny later on today. coeur d' alene. the lieutenant governor of idaho issued a executive order banning local mask mandates. there is a problem. she did it while he was out of town. the governor came back and reversed order, released a scathing statement calling her move a political stunt. the lieutenant governor of idaho, janice meehan joins us right now. lieutenant governor, madam, why did you do that in the first place? >> good morning, stuart, it is important to know what is happening in other states across the nation and what some of us are doing to try to protect our citizens from the heavy hand of government. so what happened in the state of idaho this past year, that our governor issued a statewide proclamation placing restrictions on individuals but yet he left the enforcement of these restrictions on the locality. so whether that was a city, a county, public health district,

a school district or our courts and then believe it or not, we're still in this state of emergency 14 months later, our legislature tried to correct that but these localities, i'm all for local control except for when thepoliticians on the local level interfere with our freedoms and rights as citizens. so these policies are being enacted and enforced randomly across the state of idaho. there is hypocrisy in these standards. there is discrimination happening and, and it's a form of local tyranny. stuart: i'm not sure how, what is your relationship with the governor brad little? he is a republican. you're a republican. what happened here? how do you rationalize it. you're both in the same party you're completely at odds over masks?

>> we are both, we are both constitution untilly elected officers. we don't run on the same ticket. yes, we're part of the same party but there has been wide disagreement within my party on this very issue. so what happened on thursday is that the governor presented an opportunity for me as the acting governor to end this discrimination and end this tyranny by issuing the executive order to prohibit the mask mandate on the local level. what the problem is happening especially in our schools where, and, hypocrisy is i've been in rooms with the governor political events where there are hundreds and hundreds of people not wearing a mask but yet our schoolchildren are being forced to the mask. if the governor would listen to the parents and teachers and students that i have heard from recently he would understand that this is not a healthy thing. it is not a good thing for these kids.

they're being bullied in the classroom. they're -- stuart: can i just ask, real fast question, if i may, is it tyranny if a store in idaho has a notice on the front door saying no mask, no service? is that tyranny? >> no. because the businesses have the right to conduct their business as they, as they prefer. just like the no shoes no shirt policy. and we as citizens we have a right to go into that local business or not. but it is when the government imposes a mandate on us and interferes with our ability to make health care decisions for ourselves. that is when it becomes a problem. so it is not just this, we need strong leadership in our state. it is not just the mask mandate issue. it is the vaccination. it is election laws. what is being taught in your schools. we need strong leadership in our states. that is why i'm running for

governor. stuart: i think we get it. we understand the situation. thank you very much for coming on and explaining the differences here. we like that. thank you very much. >> thank you. stuart: lieutenant governor of idaho, janice mceean. we got, certainly the stock of the day, certainly the stock of the morning. amc, another all-time high. 40 bucks a share. we covered it a lot this morning. it is now up 25%. susan do we have anything new on this? susan: we get back yesterday, everybody is talking about this on wall street. bought it at 27 bucks. turned around and sold it at $30 and change. now we're $40. a reddit, wall street bets called apes, the social media brigade pumping into amc. they don't care whether it's a classic pump and dump you have a

fundamental story. they're looking for a short squeeze. 700 million shares changing hands. float is usually 100 million. a lot of people are buying this possibly for the long term. amc is trading four times the price they were trading at in 2019. if you look at 40 bucks a share, amc's market cap is close to $20 billion now. despite the fact that the movie chain, you're carrying $5 billion in debt. so that is 20% of the actual value of debt right now. that is probably negative. that is five buck negative on the stock. does that make debt, when you carry debt you have to subtract money from the actual holdings. makes you wonder where is the fundamental story here? maybe there is some recovery in movie theater chains reopening. obviously the vaccine being doled out, more people go back into the theater. not just amc. look at trading, blackberries of the world, blackberry trading at the highest since the middle of

february. stuart: meme stocks, i don't know what to call them, but meme stocks keep popping back up again. that is what did happening today. susan, hold on a second. i have the word we have a new ransomware attack. i'm just getting a headline. do you have the story for me? susan: you might know this area, favorite vacation spot, martha's vineyard. wood's hole, martha vineyard's nantucket steamship authority has been the target after ransomware attack affecting operations as of wednesday morning. so as a result they are warning customers traveling with us today that you will experience delays. so add on top of this what happened to jbs and the disruption with beef poultry plants across america, the pipeline. this is not new. generally accepted analysis more than $75 billion of ransom was extracted in hacks in the last year in the u.s. alone.

you wonder, at some point, how is the government going to get on top of this? stuart: yes what are we going to do about it? we don't have an answer to the question at the moment. the president meets vladmir putin two weeks from today. let's see if anything shows up there. i hate to get to this but i've got to do it, it is really shocking video. show as little boy, there he is crying for help after he was abandoned by the cartel at the border. i hate to do this but please it is's important. watch it again. >> [boy crying] help, help, help. stuart: what a terrible thing. this is not the first child abandoned at the border. as long as the border is open and the cartels are running the show. it won't be the last. we've got more on that coming up, believe me. austin, texas, the next

silicon valley? well that city leads the nation in tech migration and the mayor of austin is with us next. ♪. [typing sounds] [music fades in] [voice of female] my husband ben and i opened ben's chili bowl the very same year that we were married. that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”]

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♪. stuart: that is austin, texas. the state capital of course. it is now a 73 degrees and it looks bright and sunny, doesn't it? by the way 70 companies including amazon and tesla either relocated or expanded their operations in austin, texas. they brought in 12,000 new jobs to the city. the mayor, stephen adler joins us now. you know what everybody says to us, your honor, when they talk about techies moving to austin, texas, don't bring your politics with you. i believe you're a democrat, you might not be in favor of that particular point of view but that is what a lot of people are saying. what's your response? >> you know, you hear a lot of the political talk on lots of different ways but the people

that come here are self-selecting to be here because they're creative, innovative and entrepreneurial people, that is what makes the city magical. it really is the people that are coming. so they come in all kinds. stuart: are you going to raise taxes and all the other good things that california does? >> well you know, we make decisions independent of california. we just initiated the council yesterday. i brought a resolution to double the homestead exemption in our city and to increase by about a third the senior and disabled exemption in our city. so this is -- stuart: can you break some news for us? can you break some news for us? can you tell us which big tech company you might be talking to right now about moving to

austin? >> no. can't. we don't talk about that kind of stuff but we're fortunate in the city here with, with a lot of early adopters, a high-risk profile. this is a city for people to come and build businesses, take chances and, we enjoy those conversations. stuart: we hear a lot about housing problems, the cost of housing is just gone up exponentially in a place like austin because of the influx of well-paid young people. there is not much you can do about that in the short run, isn't there? >> it's a real challenge, the austin home prices are the among the fastest appreciating in the country. we don't have the supply of housing that we need. so we need to be doing everything we can to get housing through the development process more quickly, to continue to make changes on our development

code so as to allow for greater supply. and then in our city we need to do a lot more with upscaling people in the, in the workforce development, those kinds of jobs that pay a living wage but don't necessarily require two or four-year degree. we have people that can afford housing. but, yes, it's a challenge in a city like austin. stuart: one of our fox reporters, lawrence jones, he has been to austin. i believe he spoke to you. had a series of report on rising crime and the homeless situation. just for a moment, your honor, here is what some of your residents told lawrence jones. roll tape, please. >> you have people that are assaulted. people who are robbed. we've had home invasions. >> found needles. >> found it on the floor. i didn't know what it was. i picked it up. >> austin is starting to look --

guy walking around with a machete threatening people. >> it started with bock cutters as a weapon. now we, we sadly we joke we're the machete capital of texas. stuart: i have to tell you, your honor, it is beginning to look a lot like los angeles or san francisco with homeless problem like that. >> well, certainly when you have high, rising housing values, you, most cities have an increasing challenge with homelessness, but austin is still the safest big city in texas. the fourth safest big city in the country. it scares me when he see people walking around with machetes but that is something that the state legislature has said is legal on our streets. scares me, scares obviously the people that your reporter spoke to. but we have to do work on homelessness. we have to get people out of tents and off our streets and there is a big initiative right

now being, that i'm doing together with the chamber of commerce and our downtown business alliance but also with, with the social advocacy groups all on the same page for the first time. i think that is going to be a good use of the american rescue plan dollars that come from washington. to help us take that challenge off the table. stuart: your honor, i don't want it to be all negative. i think you're doing a great job of attracting a lot of high-tech companies with a lot of new jobs. congratulations on that. stephen adler, the mayor of austin, texas. >> thank you. stuart: still on texas, the thef issued a disaster declaration in response to the border crisis. after this heartbreaking video was released, a five-year-old boy screaming after smugglers abandoned him on the border. congressional delegation is touring the border today.

who will be there to see this kind of thing? reporter: good morning, stuart. this will be a bipartisan delegation. we're going to see senators cornyn and sinema and representative cuellar and gonzalez. they will first visit the donna processing center and make their way here to the hidalgo bridge crossing to talk about the border solutions act and also the surge in the migrants coming across the border as this new heartbreaking video comes out today. watch. [screaming] >> help, help. don't leave me. help. [crying] reporter: those screams kill your gut. that is a five-year-old boy reportedly abandoned by two smugglers near el paso, texas. a reporter on the ground says he was screaming so hard, he was losing his voice. border patrol heard those

screams. they took him away. we don't know which country he came from, stuart. but the woman who left him there told a reporter his parents were already in the u.s. the story tragically so typical of what happens here. border patrol had more than 17,000 encounters with unaccompanied children in april. this comes a day after the governor greg abbott issued the disaster declaration which really allows him to send all state and local resource tosses to the border. representative michael cloud talks to me yesterday. he wants the federal government to refund the state of texas. >> the trump administration inherited a problem. had to come up with difficult solutions. was able to do it. we had something like a dozen agreements with foreign countries to help mitigate this crisis. the biden administration inherited a solution. all they had to do to keep this from happening was nothing. reporter: stuart i've been talking to some folks on the ground. some law enforcement sources

tell me this disaster declaration is a huge black eye to the department of homeland security. they believe that the state is picking up the tab, doing what the federal government should be doing here. stuart? stuart: thank you very much indeed. good report. first como. now fauci. the top doctor facing backlash for releasing a new book about handling the pandemic while still doing it. plus you could soon be grabbing a bite at a tesla burger joint. we'll tell you about musk's restaurant plans. ♪.

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

nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. stuart: breaking right now the

winner of the kentucky derby, medina spirit failed a second drug test. the colt trailed by bob baffert stands to be the second horse in the history of the derby to be disqualified. that is in to us right now. wellhead into the brooklyn dumpling shop. they were all automated. they were on the show in december. lydia hu is there now. am i right, are they accepting crypto? >> they are set up to accept a bitcoin for dumplings. they have the bitcoin atm machine available here. put it in the cash, via text message. use the bitcoin to pay for the dumplings. get this, available to use for the automat delivery system. contactless delivery. such incredible innovation we're seeing. we're joined by the owner and creator of the brooklyn dumpling shop here. >> thank you for having me. reporter: part of the story is

not innovation and technology with the restaurant but how you got the space together. you secured the first part of the restaurant before the pandemic. your rent was 8800. >> yes. february, 2020. reporter: gosh. the pandemic hit and you doubled your space by expanding to next door. how much rent did that cost you? >> there is wonderful silver linings what happened in covid. we started at $8800. i wanted to make this a bigger flagship store for all the future franchises we're doing. i literally doubled the store. my offer to the landlord was $2,000 being take it or leave it. you will not rent the store for next two years. those that were deals out there during covid, especially early on. reporter: a lot of people say it is really hard time to be in business. you look at it differently. now is a great time. >> great time for proof ven entrepreneurs. it is even great for students finishing school in hospitality school. there is some second generation stores, where if you have a good business plan, business model,

landlords will want to talk with you. that is where the market is right now. the whole shift has went to the tenant side. not the landlord. so the landscape has changed. reporter: stuart, we're hearing from talking to strattis and real estate, according to the city, retail rents have dropped by more than 22% year-over-year. we know that is giving young entrepreneurs and quirky businesses the opportunity to break out to have the brick-and-mortar spot maybe they wouldn't have had. as you are out walking out of city or going to be a tourist, visiting here. take a look around you might see new vinyl shops. interesting restaurants. you can talk in the brooklyn dumpling shops. stuart: i like the idea, it is an opportunity to be exploited, nothing wrong with opportunity. lydia, thanks very much indeed. i have actually a related story here. i, susan got this for us.

susan, what is this about elon musk getting into the restaurant business? >> you know, he has been teasing it since 2018, but restaurant filed for three restaurant trademarks end of may. full service. restaurant services, self-service, take-out. the application will be reviewed in three months time at the end of august by a lawyer. musk did this three years ago. he tweeted that we'll put an old school drive-in in one of the tesla charging stations in los angeles. this is part of the waiting time you have to wait around to get your tesla batteries charged. an outdoor scene might play highlights after best movies in history or touch-screens in order to order the food. it is all high-tech because it is tesla, no matter what he has to make a headline a day. that is the way the man is these days. susan: i thought we would like

the high-tech and talk about how much you like the kiosks? stuart: what do i see here, donald trump's blog permanent mentally shut down. susan: it was announced by jason miller, from the desk of donald j. trump has been scrubbed from president trump's website. it will not be returning according to jason miller. that is what he is telling some reports out there. now this only was restarted, i think it started from the desk of donald j. trump, last month. he has been banned from facebook, twitter, popular social media sites. this didn't catch on. more of a blog site to share comments and statements posted. you can't, couldn't follow it. and you didn't see a lot of traction shall we say. stuart: you got that right. okay. it's gone. thanks, sewers san. different kind of vaccine incentive. we'll tell you which state is giving away trucks and guns to

get the jab. from speed skating to crypto, olympic gold medalist apolo ohno here to talk about the 2022 games. apollo after this. ♪. they said it couldn't be done but you managed to pack a record 1.1 trillion transistors into this chip whoo! yeah! oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you you don't have to be circuit design engineer to help push progress forward can i hold the chip? become an agent of innovation with invesco qqq

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stuart: check that market, please. i'm still seeing some green but it is not a huge amount of green. dow is up 81. i want to get to the olympics. the tokyo summer games going on as planned even though the city is still under a covid state of emergency. that is as of now but the 2022 beijing china winter games, they look a little dicey. a lot of people calling to boycott china which is the host of the event. look who is here, olympic gold medalist, world champion speed skater apolo ohno who joins me now. look at the winter olympics, if you were estimate competing would you go, do you think america as a team, country, should go? >> thanks, good to see you, stuart. i absolutely should go. i believe america as a team should also go represent to the

absolute best we can. we try to win in every single circumstance and situation. as you all know my passion for sports to go beyond the borders and politicized beliefs is something i hold dearly to my heart. i want to see the purity of sport again. we want to celebrate, cheer for our countrymen and women who go to compete regardless where the olympic games are being held. stuart: you would go. you think america should go. i will change the subject completely. you're a crypto guy, aren't you? do you own bitcoin or ethereum or doge? which do you own and why are you so big into crypto? >> stuart, so i think that my fascination i think everyone's fascination is really interesting to watch especially the last couple years. we've seen all of the different personalities and megacompany owners jump into this space. i'm always constantly inspired, motivated by the engineering

team, the thoughtfulness and ideas how we talk about money. how we talk about transference of value. we talk about new asset classes. it is easy for us to all get distracted at times with whatever the new hype or cycle may bring. it is important for us to bring it back to home base. i partnered with a company called personal capital to give them the tools, to help them understand where financial they are in their lifts. like athletes we measure every single thing, looking at stocks, our investments, our entire portfolio. even our spending. as we come up out of the covid pandemic, people will start to be yearning for things they didn't have just a year ago. i think it is important for us to have a home base where we track and monitor these things in real time as they are so incredibly intertwined with mental health perspective. stuart: you're doing a lot in the crypto space. i got that. are you all-in with cryptos. in other words you don't touch

stock market investments, conventional stock market invests? is all of your money, i presume you made some money, is it all in the bitcoins of this world and other cryptos? >> so on a personal level, stuart, i'm spread pretty diversified, venture investment, early stage start up investment, or entrepreneurship, i do have access to crypto. i believe in the thesis moving forward this is something that will continuously grow. i've been in multiple family office meetings to hear the different ultrahigh net worth individuals and families around the world and they're actively participating. i think this is something we're still understanding as this unfolds. as we spoke about many solve the stuff it is really challenging for a lot of people to that understand the protocol layers around technology behind it. i do think something very fascinating happening. i continuously inspired to have more about the particular sector and space. i think we're really just at the beginning stages what this will

look like over the next decade. stuart: i wish i had more time. i would love to know what you're thinking about dogecoin. we're out of time. apolo ohno, thanks for joining us. >> thank you, stuart. stuart: big hour still to come. we have tomi lahren, mark tepper, alfredo ortiz plus a whole lot more. it's a terrible thing to see the child crying out at the border. this is what happens when the biden team reverses president trump's policies that is coming up next in "my take". ♪. ...

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which can lead to something big. start stopping with nicorette >> i think we're starting to see some more structurally- inclined inflation and that's problematic because that could drive interest rates much higher. >> you're going to see some level of inflation in the automotive sector, you know, over the course of the next foreseeable future. >> slowing here and there, sentiments come down, because consumers are concerned about this inflationary push. >> one of the things that is definitely undermining the biden administration right now and certainly undermining their agenda, their grandious spending plans is inflation.

>> ♪ free falling, now i'm free falling ♪ stuart: oh, the late and great tom petty. love to play him almost as much as we play the beatles and the rolling stones, but 11:00 eastern time on the east coast and the markets are still rally ing quietly. let me put it like that. dow is up 78, nasdaq is up 18. big tech again, it's a fairly quiet performance from big tech so far today. we've got the yield on the 10 year treasury down to 1.59% and we do have a mixed picture on big tech no serious gains or losses for any of the major movers. all right, now this. look, if you're a parent, this is hard to watch. any decent human being would find it hard to watch. a child abandoned in the desert at our southern border crying for his mother. watch this.

>> [child crying] >> no, no, no! stuart: i'm not going to play the whole thing but this is what happens when the biden administration reverses president trump's policies just because they were president trump's policies. that's what's going on here. the hate trump brigade insists that all policies of the former president be with us, can't live with them. trump closed the border, biden reopens it, and kids are crying in the desert. trump brought iran to its knees, biden offed them a nuclear deal and rockets soon rained down on israel. biden shutdown the keystone pipeline, tuesday, he shutdown drilling in parts of alaska. result? oil prices and gas prices going straight up, and china is laugh ing at us. trump cuts taxes, cuts red tape, biden demands the biggest tax increase of all-time, gives us the biggest debt in history. yeah it is a pattern. you can clearly see it.

reverse past policies, because the left hated the man behind those policies. to the left, this is very satisfying. they got their way, but reversing successful policies leaves the biden presidency sink ing into one mess after another. this presidency is floundering, and the third hour of "varney" & company is just getting started. come in tomi lahren. look, tomi, we just showed our audience that dreadful video of the boy crying out in the desert there. now, we're told that vice president harris is headed to guatemala and mexico this weekend, but there's no mention of her stopping at the border. what do you make of that? >> yeah, you know, it's wonderful if she wants to go to guatemala and mexico but where she really needs to go is our southern border and she needs to speak with our border patrol agents and also needs to do a

ride-along with i.c.e. agents in a sanctuary state like california and see what they deal with on a daily basis to protect and serve all communities including immigrant communities from illegal criminal aliens but she doesn't want to did that because she doesn't want to acknowledge that there is a true problem there. if you stay away from the problem if you refuse to confront the problem you can pass it off like there is no problem. it's when she goes down there and she actually has to see it and she's got the news camera and the press with her, that's when it's going to hit home to the american people. we've got a real problem here, and as you mentioned in your take, its been created and sustained by this administration out of their trump derangement syndrome, but who suffers? all americans of all political affiliations and i think they are starting to realize it. stuart: i just go back a year or so, maybe a little longer, and the pictures of the white house press corps screaming about president trump about kids in cages. that was a bogus story to start

with. where is the media now when we at fox constantly run videos of kids screaming abandoned in the desert or dropped over a 14-fo. where, please tell me, where is the concern for children in our society? >> well it's all narrative- driven and that's what we see time and time again in this country but the biden administration is like when you order something on amazon and it arrives two days later and it's not exactly what you bargained for , that's exactly what the american people are getting with this administration but as you mentioned when it comes to immigration i traveled to the border several times during the trump adminitration when we had the caravans coming over and i watched his zero tolerance policy at work and watched when he worked through mexico through diplomatic efforts and mexico started to pull their own weight , i watched the remain in mexico policy which the biden administration has now permanent ly ended, i watched that work, time and time again, trump's policies whether they liked him or not were working and you mentioned the keystone pipeline. i'm from south dakota. i also visited those workers that were promised their green

new jobs from not only border czar but infrastructure and green job czar, kamala harris. they still haven't gotten those things. at the end of the day, though, it really is the media's fault. the media should be pointing these things out so that at mid-terms we can correct it for the american people but they are so interested in propping up this administration because they don't want to admit how wrong they were. they don't want to admit how much they miss donald trump, not just for his ratings, but for his policies, so they are going to continue to shield, to prop up, to codel this administration, and the problem is, a lot of low information viewers and voters are going to go along with it because they aren't watching anything else. stuart: tomi lahren, tell it how it is we appreciate that, thanks for joining us we will see you again and of course on fox nation. >> good to see you. stuart: we've got to check the markets because we have a modest gain i'm seeing bitcoin at $38,000 a coin, all over again, and i think ethererum is up to close to 2,800. who better to bring into look at the stock market than mark

tepper, who joins us now. >> thank you. stuart: mark, i don't know whether you're watching the show but an hour ago one of our reporter was in chicago and spelled out inflation at the ground floor level. >> yeah. stuart: he showed us chicken which had gone straight up, i mean, doubling and tripling in price. he showed us plastic containers for take-out food, doubling and tripling in place. inflation is here, but is it here to stay, mark? >> i think so, stu. you know what? i was watching that. it looked like the price of chicken tripled and it seems like all of the powers that be, all they want to talk about is core inflation, which as we both know, that subtracts out food and gas, because nobody eats food and nobody drives in a car, right? so when you look at headline inflation, that's actually up 4.2% year-over-year, the highest we've seen since the early 90s. inflation is here. it's here to stay and what you're seeing right now, stu, you're seeing biggest game of musical chairs ever. tons of fun while the musics

playing, while those stimulus checks are rolling in, while you're making more money sitting on your couch than you did when working and suddenly, stu, the music stops, right? then you have to deal head-on with the reality of the situation, the aftermath of that party and it was so fun, which is inflation, it's here, it's here to stay. we just haven't had to deal with it, just yet, but we'll be dealing with it very soon. stuart: we deal with it when the federal reserve admits that we've got an inflation problem and it's his job to do something about it but i've got to know, when is that going to be? because the first sign that the fed is going to tap on the brakes and raise interest, the very first sign surely, the stock market comes down, doesn't it? >> oh, without a doubt. so right now, the central bankers, they are insisting this is just transitory. it's short-term, and the market believes it right now, for stu, but i think that's going to change. i think the fed's feet with being held to the fire. i think they are going to start to taper in the fourth quarter

of this year, and the question right now is will they raise rates before the end of 2022? i think yes. i think they are going to have to fight off inflation. they have a dual mandate and they've been willing up until this point to look past the price stability mandate, and just focus on full employment, but i think you and i both know that we're pretty close to full employment, if not already there , if you want a job, you can go and get a job. the problem is people don't want to work. stuart: well, if you've got this threat to the stock market with rising inflation and maybe rising rates from the fed, if you've got that threat to the stocks, why not just put some money into cryptos? a chunk into cryptos? aren't they inflation-proof? don't they offer a way out? how do you read it? >> well, look. when it comes to crypto, crypto is speculative. i've told you in the past i own some but i own it in a very small percentage of my portfolio purely, as a speculative investment. i don't really look at it as

necessarily an inflation hedge. i know a lot of people do. i think there's no issue whatsoever with diversifying into crypto, as long as you figure out what percentage you're comfortable with. i invest in a percentage whereby if it goes to zero, stu, i'm not going to lose any sleep, i'll be fine, but 5x or 10x, i'm going to take nice vacations and be a happy guy and enjoy life even more, so as long as you're disciplined and prudent, i think it's okay. stuart: okay. i'll remember that, [laughter] just in case, mark tepper thank you very much, sir. i think we'll see you again tomorrow, good luck, see you again. >> absolutely. stuart: check those markets dow is up nearly 100, nasdaq is up 20. all right, i think, i've been calling amc the stock of the day maybe it should be zoom, because zoom was way up, now it's way down. what do you say, susan li? reporter: well, i think only for zoom, wouldn't you say, stu, that 191% sales growth not

impressive enough for wall street, and yes, they are forecasting a further slow down in sales growth this spring time , but a lot of companies would sign up for 50% sales growth, and this is because look , zoom has pretty high expectations. they become part of our zite guys during the pandemic. they had 200 daily meeting participants and they have every report card as a public company but we have tough comparables when you're the service of choice during the lockdowns i think that's what wall street is trading off of right now. you're going to say something, stu? stuart: before you get to etsy, you've got to tell me about de pop, which is the gen z reseller, the seller of secondhand clothing stocks for $1.6 billion. reporter: oh, yeah, you know that now, right? depop rolls off the stuart "varney" tongue so it's mainly targeted at younger resellers. i call it concession because i don't like the word secondhand so this is mostly a cash deal of $1.6 billion and they will

continue to operate as separate entities so etsy will be etsy, and depop will still be depop and this is about getting a younger audience and user in the future. want to tell you about apple because apparently according to apple some users aren't able to make payments still we have apple slightly higher in the session and also another report that came out says top managers at the self-driving unit has left so there has been some questions about the future of the apple car, and also, some would say it's stalling in the stock price since their earnings and finally, goldman is downgrading, archdiocese cinemark and imax, despite amc is outperforming up 1,400% this year but the recovery in the box office already priced into the stock price and they say it's not a sure thing, that people will come back to theaters in droves. stuart: but amc is still straight up today. all right got that. next one? dr. fauci, he's under fire again , this time for releasing a new book about handling the

pandemic while he's still on that job. got that coming up for you, plus the job creators network suing major league baseball. they say either bring the all-star game back to atlanta, or pay $100 million to the city's small businesses. the guy behind the lawsuit is here, next. >> ♪ ♪ (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that.

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i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. stuart: well, the rally has held all through this wednesday morning trading session, and the dow is now up well over 100 points. look at the names which are leading the dow, that be visa, a mgen, boeing, american

express, and four stocks account for three-quarters of the dow's gain. all of those four stocks are doing well look at boeing up $3 again, 1.25%. baseball fans, they've been watching what some call a pretty boring season, so far. nobody is hitting the ball, backing averages way down. reporter: we're looking at .236 batting average so far through may we're looking at the lowest batting average in 53 years, you have to go all the way back to 1968, for something below .230 and that by the way was the last season before the pitcher's mound was lowered from 15 inches to 10 inches, but still, may was up from april and it was the worst may since 1972 but i would say the pitching has been fantastic. you've had six no-hitters so far this year, strike-outs have gone up averaging about nine per team per game on pace to set a record for a 13th consecutive full season, so great pitching, and people swinging for the fence

that mentality, that star mentality might be the reason we're looking at such a low bat ting average but stu, i always like to reference people say they are having a tough time and also failing, people make it to the hall of fame batting .300 i mean you hit the ball 30% of the time that's pretty good in life, isn't it? >> i would say, yes. i wouldn't care to follow this discussion too far down the line, however, susan. i'm staying on baseball. major league baseball if it doesn't bring the all-star game back to atlanta, mlb is going to face a $100 million lawsuit and the man behind that is alfredo ortiz, and he joins us now. so if they don't bring the all-star game back to atlanta you sue them for 100 million. you're not going to get 100 million. you pretty much know that, so what are you going to accomplish by this lawsuit? >> well, stuart first of all good morning, always great to be on your show, thank you.

look, we went and tried to do as much as we could before we got to this point. we put up a couple billboards in times square trying to get man fred's attention, didn't get any attention from that. we've took a full page ad out in the new york times that didn't work. we sent letters to his office, that didn't work. we actually sent even protesters to his headquarters that didn't work so here we are filing a lawsuit actually was filed monday night, and yes, we're asking for the game to be brought back and expeditiously as he moved it out of atlanta took him about four days after brian kemp signed the bill into law, the voting law here in georgia, with that same speed we're asking him to bring it back and stu if you think about it, atlanta and georgia specifically, has been really working on that for 21 months, colorado two months, which city do you think is more prepared to actually accept and receive that game and get it done and guess what? if it doesn't work, stu, yes, $100 million, which is basically relief fund for our small business owners in georgia, that's the estimated impact

economic impact that moving the game out of atlanta denver has had on our local businesses. stuart: i don't want to get too technical or legalistic, but what is your reason for demanding they bring it back what are you saying that major league baseball did wrong? what's your legal case here? >> yeah, so we have actually the entire case on what's called mlbfail.com so for folks really interest and love to dig through hundreds and hundreds of pages of legal documents it's there but bottom line is, and i'm not sure many people realize this , but major league baseball receives a public state and local funds from taxpayers basically and so they are really treated as a separate class as a separate entity versus any other private organization, you know, and so by doing such, by receiving these funds, they have to act in an appropriate way and what they did really basically broke the constitutional rights of our members, of job creators

network, as well as the citizens of georgia, and so because of that, they really are not allowed to do what they did. stuart: so you filed the suit. when do you get some answer back from the court? >> well we believe that, in fact, i think i just got that e-mail and i was checking just as we went on, it looks like june 10 is the hearing date. stuart: so maximum publicity, june 10, and you'll take it from there. alfred a ortiz, good luck with this. >> absolutely we'll keep you posted. stuart: we'll see you again. thanks very much. all right, looking at various items, including the price of oil, we're now at $68.46 a barrel. that's again, up 1%. reporter: right. stuart: by the way, gas prices keep rising what's this about the biden administration cracking down on drilling again? reporter: yeah, so stu, i think what texas here we're at a 2.5 year hyatt $68 and change, so we're talking about suspension

of licenses in the arctic national wildlife refuge which is near alaska and this blocks plans for the first-ever drill ing program in that 19 million-acre wilderness and republicans and oil interests have been pushing for exploration in this remote northeast corner of alaska, but it is interesting that no major oil companies actually bid for these rights because they've been shying away from these each pensive and they know political ly-sensitive mega projects in fact the bidding only came to $14 million and finished days before former president trump left office, so a lot of these big oil companies knew that if there was a new administration coming in a democratic one this was going to be off the shelf. stuart: 19 million-acres. that is an enormous amount of land okay, got it. susan thanks very much indeed. i'm going to do it one more time if it's not stuck in your head yet, it will be after this. one more time, please. play "baby shark." >> ♪ ♪ ♪

stuart: i'm going to cut it short so you don't turn to a different channel but we're playing that because elon musk is tweeting about it. it sent shares higher for one of the song's big investors, how about that? we'll tell you what musk said about "baby shark" shortly. >> first though, bitcoin, well below its april highs and my next guest says when it hits $27,000 a coin, that's when you buy. you'll know why, after this. >> ♪ ♪ ♪

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stuart: well the markets have been open for two hours now, and throughout those two hours, we've held in rally mode, the dow is now up 100, nasdaq is up 31. look at blackberry, yeah. it's another of those meme stock s that's surging, hitting its high from the february of last year up 14% right now, the stocks at 13.20 these meme stocks today doing very well. how about bitcoin.

well that crypto is working its way backup 38.2 is your quote, jpmorgan is warning that the price could face a significant drop. okay that's all in the background to bitcoin, 38.205 right now and look whose here, the author of "rich dad, poor dad" robert kiosaki is with us. robert welcome to the show. >> good morning. stuart: good to see you back again. why are you a bitcoin guy? >> well, stewart, i appreciate the question, because i'm going to give you a basic lesson in macroeconomics. stuart: okay. >> how do you spell zimbabwe? and this here is the silver eagle, and this here is a gold eagle. so which would you rather have? $10 million in zimbabwe money? or gold, silver orbit coin? so what i've been saying is that

i've been accumulating bitcoin, i watch it at 20, it dropped to three, hit seven and i said it's going to run so i picked it up at nine. it went backup, and i'm waiting for it to come back down to 27. i'm accumulating but i've been accumulating silver, but you can't find it, and i've been accumulating gold, but you can't find it either, so i love bitcoin. stuart: so, you're waiting for bitcoin to drop back to 27,000 and even when it does, you'll buy some more, problem is -- >> as much as i can. stuart: when you're saying stuff like that, people will buy it at 30 or buy it at 31 thinking they will get in before it goes down to 27 and you start buying. that's the problem with all of this. the headlines being made, that will continue to surround every bitcoin. it's moving according to headlines. that's what it's doing. >> right, and there's a lot of

problems with bitcoin, i don't doubt that, but this is the future. it's called zimbabwe, this is the future of the u.s. dollar, so i'm asking people to start thinking today, before you spell the u.s. dollar zimbabwe. that's all i'm saying. i'd rather have gold, silver and bitcoin or ethererum than this piece of fake paper. stuart: so we're on the way to hyper-inflation, that just like zimbabwe was, no matter what. there's no way around it, hyper- inflation here it comes in america. >> well you can't keep printing trillions of dollars, you just can't keep it up. it inflates the stock market and stuart, this is called a mania. this is not a boom. it's not a bubble. it's a mania right now, and that's why i'm very cautious. i'm making a fortune but we're destroying this. we're destroying the dollar, it becomes zimbabwe, our economy, and its happened, you and i are

the same vintage. this happened in 1971, 50 years ago to 2020 when nixon took the dollar off the gold standard and we're here at the 50th anniversary of the future zimbabwe dollar, [laughter] so i'm a pessimist. stuart: well, okay, no, i see your point, i mean if we get hyper-inflation the conventional dollar is worth nothing but does hyper-inflation mean that bitcoin, or another crypto becomes the new reserve currency, used around the world? >> you're asking a horrible question, there, stuart. if we go to the yuwan coin or the euro coin, the predictions are that the banking system, jpmorgan, wells fargo, bank of america, are toast, will go to a ubi, universal basic income, and fed coin, and our freedoms are then gone, stuart. our freedoms are then gone.

they can track our every move, via our money, and they can pump money directly into the system. if, and we will, go to fed coin. that's what i'm afraid of. stuart: okay, robert, that's a dire warning, and we heed it and we'll be checking bitcoin to see if it gets to 27 and you buyback in again. robert kiyosaki, good stuff and thank you very much for being here. >> thank you, stewa stuart: all right by the way we've got a development here, coinbase has announced a new partnership, susan, with whom? reporter: coinbase, yeah so we're talking about apple, google, wallets for crypto purchases, the two largest operating systems out there that they make for smartphones and they are offering this new coinbase card on apple pay, google pay and it's an interesting concept, so how it works is coinbase will automatically convert all digital currencies to u.s. dollars, and then transfer those funds to user's coinbase card for everyday purchases like groceries and the like and it's also available for atm

withdrawals, so think of crypto as like a currency or a form of payment, which isn't really common these days because the transaction fees are so high , and i'm wondering what the transaction fees are on this coinbase card, and we know that the future of banking and payments is going on your phone and it's going online, stu, remember that. according to e-marketers they say mobile payment usage is on track to surpass half of smartphone users that's billions of people by the year 2025. stuart: [laughter] again, i have been warned. and there is one more for you. we've got another major retailer accepting bitcoin, and other cryptos as payment? reporter: yeah, so sheets which is the convenience store chain, they will start accepting bitcoin and other cryptocurrenc ies. it's a regional convenience store chain, and they will use digital payment platform flexa, to allow customers to make crypto payments so you can use your bitcoin, ether, litecoin, dogecoin and others to fill up your gas tanks but i don't know that the transaction fees and

usually, they are very very high , when using crypto as currency or as payment. also, i don't want to end up being the guy who paid for two pizzas with 10,000 bitcoin in 2010 remember that? those 10,000 bitcoins are worth $360 million, i don't want to be that guy. stuart: that would assume that the value of bitcoin keeps on going up, so you want to hold it, not the person that you're buying something from. reporter: right. stuart: what's this? we got a special piece of video, you've seen it and i want to know more about it. look at it there you go. that's a teenager fighting off a bear to protect her dogs. where was that? reporter: that was in los angeles, in california, so 70 million views and counting on tik tok so far, and you see that 17-year-old teen there protecting her dogs from a brown bear. this video has gone viral. the name of the 17-year-old is hayley marinico, and she really didn't think twice about rescuing her dogs and pushing the bear back, i would have because they have big clues and

big teeth and are pretty strong but she's now a hero because she wants to protect her dogs and they are so cute. she heard them barking and went to the backyard to do something about it. stuart: i mean if you're sitting in your backyard in los angeles, california, you don't expect to see a 1,000-pound bear jump over the wall, now do you? reporter: i was wondering about that. stuart: take my hats off to the young lady, i wouldn't have done that. reporter: how common are brown bears there? [laughter] stuart: that's a very good question, susan. maybe we should send a reporter to find out. then we have this. you know, we told you about states encouraging residents, get the jab, please, giving you things like concert tickets, cash, and a whole lot more. well, one state offering guns. we'll tell you where that is. first though, newly-released e-mails show key wuhan lab researchers thanking dr. fauci, because he downplayed the lab leak theory. ouch. we've got details on that one

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stuart: all right, the markets are pretty, well, not that active we've got a modest rally all across-the-board the dow stands at 34, 600. the 10 year treasury yield dip ping back below 1.6% yet again, you're at 1.59 as we speak, that yield has dropped in two of the last three trading sessions. 160 is an important level, its dropped below it. president biden will donate 80 million vaccine doses to countries in need, don't have details on the program yet. hillary vaughn is at a vaccination site in virginia. when are we going to find out where these 80 million vaccine doses are going? reporter: about two weeks from

now, stuart, that's what the secretary of state anthony blinken said yesterday, but while the biden administration is waiting to decide where these vaccines are going, the china and russia have already jumped at the chance to dole out doses to countries giving them a diplomatic advantage. there is bipartisan worry on capitol hill that the u.s. is taking too long to figure out who to give their doses to. senator marco rubio, along with senator bob menendez and tim cane saying this , "without u.s. engagement and leadership our competitors will continue efforts to use their less effective vaccines as leverage to coerce latin america and caribbean nations in support of a diplomatic agenda" and just one example earlier this year china promised vaccine shipments in exchange for the peri- ceas ing taiwan and secretary of state anthony blink el said yesterday in a press conference with costa rica

's president that u.s. vaccines will not come with political strings and is focused on equity in its distribution and saying they will work with c ovax, a global alliance that focuses on equitable access but an op-ed is blasting covax's approach saying need should be the principal criteria for distributing vaccines among countries but not the only one, before vaccines are sent, countries must be able to distribute and administer them, vaccinations, not vaccines, are what save lives and that is a problem, because some countries that have received donated doses from covax had to destroy some of them because they could not get them in arms in time, south sudan threw out 60,000 vaccines and the ivory coast destroyed over 300,000 vaccines, stuart? stuart: hillary we hear you thank you very much indeed and then there's this. newly-released e-mails show dr. fauci receiving "thanks" from key wuhan researchers. susan, i don't think this looks very good.

what did they thank him for? reporter: for pushing back on the theory that the coronavirus leaked from a lab, so this is part of the e-mails written in april last year and published by buzzfeed just recently. this involves peter dazek, a zoo ologist, whose non-profit steered around 3 million in the u.s. funding in the wuhan institute of virology in 2014 and he wrote i just wanted to say a personal thank you on behalf of our staff for publicly standing up and stating that the scientific evidence supports a natural origin for covid-19, from a bat-to-human spillover, not a lab released from the wuhan institute of virology, and he says from my perspective, your comments are brave, and coming from your trusted voice will help dispell the myth being spun around the viruses origins, so that you had many things for your kind note coming from dr. fauci himself. now, dazek was referring to fauci tosses comments on april 17 when a reporter asked him to address concerns that the

coronavirus could have leak ed from a lab to bats and you heard from dr. anthony fauci saying that was highly unlikely. stuart: okay. that's a story that's just evolving, i believe. all right, the u.s. is beginning new covid vaccine trials this time to test the mixing and matching of booster shots. the trial looks at what happens to fully vaccinated adults when they are given separate types of the vaccine, about three to four months later so the trials continue, and we've got pfizer at $38 a share, how about that? even despite all of this , it hit 40, and then came back down again. speaking of vaccines, virginia trying to convince people to get the jab, offering incentives like a free gun. residents who got the jab will be entered a lottery to win a variety of prizes, could be cash , a hunting rifle, a custom hunting shot gun, it's a lottery situation, to get you to get the jab for virginia. round room live, ever heard of

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>> ♪ ♪ stuart: okay, so that is a foggy santa monica, california, that's june gloom, you often get it there this time of the year, 60 degrees that's all you got, right now. and then there's this. shows like "baby shark live", they're coming back with live audiences. steven sure is with us, he's the co-founder and co-president of round room live. it occurs to me that you're bringing back "baby shark live" you just got some great public lit. you know that elon musk was tweeting about baby shark, you know that? did you put him up to this there >> [laughter] well, you know, listen. the stock surge is just another example of musk's apparent out

sized influence. cryptocurrency, bitcoin and dogecoin have all seen chart moves and their prices following comments by musk so i'm not surprised about "baby shark" and i'm sure a lot of people are pleased that he's turned his attention to"baby shark." stuart: so look, you're bringing back live performances. a wonderful thing, but how do you know that people will come? >> it's a great question, stuart, and i'm really glad you asked that. we are seeing an eagerness in the market, from festivals to immersive experiences to live theatrical. we're seeing that real excitement and readiness to get out and see these live events, from the round room side , we're very confident that people are going to fill the seats, because they're already buying tickets. we went and announced and launch ed our show "baby shark live" last night in texas and we have three tours currently on sale, and we are very pleased with the sale so far, but moreso stuart, our fans keep

telling us how excited they are for their children to come out and see their favorite character s through our social media channels, through our platforms and they are so excited to come back out and have fun again after such a difficult year. stuart: yeah, you've got an operation i think called " jurassic world" outside dallas, i think it is, that's not an event so much as how would you describe jurassic world? an exhibition, is that what it is? >> yeah, it's jurassic world the exhibition. it's an immersive 20,000 square foot walk-through experience based on one of the biggest blockbusters in cinematic history, so visitors walk through the iconic jurassic world gate with the famous john williams score playing and you're immediately transported to a different world, you know, guests can sort of wander around the park and encounter lifesize dinosaurs in their natural environment. stuart: and how long will this

exhibition last? i mean it sounds like almost a permanent thing that's going to sit there for years and years, is it? >> well it will sit there for six months. i mean, we're going to sort of range from anywhere between three and six months, but our typical sit-down performance for one of these large-scaled exhibitions is about half a year , and then we pick-up and travel to the next city, and do another run for approximately the same amount of time. stuart: in this new environment, can you survive without packing the place every single day, for every single performance? >> yeah, it's a great question, you know, we have taken a long look at our safety measures, stuart, and you know, the first thing that we can guarantee is that the round room shows are going to be a lot of fun, and they will be magical, but most importantly, they will be the safest experience as possible. you know, something that we take extremely seriously and you can

count on round room to take every protective measures. we want families to be totally confident and comfortable that when we come to see a round room show that sort of safety is the ut most priority and they only have to worry about really having a great time, so we do everything from temperature checks to disinfectants of theaters and cast capacity reductions, and socially distanced seating and obviously contact less entry. we implement a lot of measures that ensure the safety of not only our attendees but also, our workers, our staff, you know, our cast, our crew. stuart: seems like it's back to normal in many parts of the country and i think you're just working in that direction. steven, thanks very much for joining us, we appreciate it and good luck with all your exhibitions there, good stuff. >> thank you very much, stuart. stuart: it's that time. it is that time. what is a trivia question why not? what is the world's longest river? i got this wrong. the answer, moments away.

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♪. stuart: i got it wrong. which is the world's longest river? answer? show us, please. the nile. i thought it was going to be the amazon but, no, it is the nile. oh, dear. let me assure you it is the nile.

4132 miles long. we lost the graphic, sorry about that. the nile begins at lake victoria, goes down through tanzania, whatever. it is the longest river in the world, you're looking at it. i want to bring susan in please. bitcoin is now around 3thousand dollars per coin. i think i got that. tell me, tell me about this, you're going to a crypto conference in miami tomorrow? big deal? who is there, who is organizing? >> biggest cryptocurrency event to be held ever on the planet. talking about 50,000. we're coming out of a pandemic. this is exciting, heading to the sunny shores of miami. you will find the biggest names in crypto. the nft artist who hit a record, highest selling living artist on the planet. jack dorsey of twitter will be there, microstrategy guy,

michael saylor. a very exciting asset class that people put bets on dominating. i knew it was the nile. i think it is accepted it is the est river in the world. didn't they say there is a river you can't deny, there is denial, you know what i'm talking about, right? stuart: you're in denial if you don't do this and that, other, longest river in the world. we're out of time, susan. good luck in miami. i'm sure we're talking to you. my time is up. neil, it is yours. neil: thank you very much, stuart, welcome back. we're following a couple other developments, not only happening on the market front but what is happening on the meat, poultry, you name it front. the all the prices are moving up, the idea what happened to meatpacker jbs could have reverberations around the world. maybe in china, since it imports majority of the meat from the united states i might