adobe, stock is 3.5%, jpmorgan raises its price target, jeffrey's raising the target. it is opening at an all-time high as the rest of the market is lost, dow industrials down 250 points. ryan pain and james freeman, have a wonderful weekend and a happy father's day to all. let me send it to "varney and company". stuart: in my 72 years of life, almost 73, i have learned one very good lesson. you don't ever make a comment about a woman's hair. good morning indeed. maria: good morning. stuart: here comes a post covid weekend. unlike the rest of the world america is going to be out and about big time. it has already started. thursday, 2 million travelers

passed through tsa checkpoints. this weekend we will get really close to 2019 levels, all across the country very few masks, no social distancing, eating and drinking and socializing, back to normal. on the financial markets the new normal is fear of inflation, it is playing a big role today. governor james bullet sees real rate increases in 2002 because raising inflation, investors don't like that, the market, the stock market and our industrial set to open this friday morning way down. a lot of 230 are points. it had been 300 points a few minutes ago. the s&p down 23, half a percentage point and the nasdaq down 0.4% but 54 points. long-term interest rates have been rising, we've actually got the yield on the 10 year to

one.49%. we've got dueling spending plans, a gigantic $6 trillion plan pushed by bernie sanders and the far left versus a less than $1 trillion plan from a group of senators includes democrats and republicans. my opinion, bernie's plan doesn't have a chance. he can't get the votes. the question is what will the socialists do when they fail their attempt to transform society. revolt in portland, not the protesters, the police, 50 members of the riot control team have resigned after an officer was charged with assaulting a woman during a violent protests. the big cities have a problem.

they have defunded and or disrespected law enforcement, the cops are walking away and crime is rising. do you feel like commuting? do you feel like commuting back to a big city? friday june 18th, 2021, "varney and company" is about to begin. the trumpets they go ♪♪ ♪♪ ♪♪ and the trumpets they go ♪♪ stuart: there is new york city, empire state building. nice day, 70 degrees. look at futures, not so nice with red arrows all over the place, dow industrials up 250. not the same story but a significant loss for the s&p and the nasdaq. is this and inflation scare right there? is at the start of a real big selloff because of inflation?

>> happy birthday and happy father's day. here is the deal with this conversation, they float the balloons. they had saying it was time to think about it, they were testing markets and there is a little bit more of a hawkish statement and then they sent jimmy bullet to get more hawkish. to see where the level of anxiety is and look what happened, the minute he opened his mouth that he's not a voting member though he is a member, he's not a voting member but he posts a little bit and diablo is selling and additionally today is the russell rebounded, it will be extra volatility so people should recognize that as well but i don't think it is the beginning of a huge selloff. one of the other fed presidents the opposite side of the argument and they see where the bodies lie.

today or early next week you have a bit of a pull back, a temper tantrum but they will calm that down. stuart: do you still feel we could hit new highs this summer. >> by the summer it is a little bit of a stretch, the it will be rocky but by year end the s&p, my stock is 4400 on the s&p and we will get there by year end, not the summer. we will have rocky roads into early july, towards august you have more stability and september and october are volatile months, then november and december we might see a rally to the end of the year. stuart: hope you have a great weekend, see you next week. the other markets, stocks going down. bitcoin looking at 37,600.

bitcoin hit 40,$000 this week but it could not hold. in our 9:00 hour what is the latest on bitcoin? >> rocked by the fed, if rates go up sooner that could push demand down for risky assets like bitcoin. the dollar is headed for the best we can 9 months. this preserves the inverse relationship between crypto and the dollar. there was favorable news on bitcoin, bitcoin is flat but being overlooked, the spanish bank, they opened a bitcoin trading service in switzerland's because there is high demand for bitcoin. stuart: 37 grand as we speak, ethereum, $2,296. changing the subject, you heard a lot about this, parents in loudoun county, virginia, fired up about critical race theory

in their schools. watch this. >> this is the most racist thing i have seen in this community in 15 years. you are teaching them to question the motives of their friends or neighbors or families. >> i don't need you to tell them to apologize for where they were born, what they believe or who they are. >> growing up they used the same critical thing to divide people. >> nothing is more important to this ideology than the color of your skin. stuart: loudoun county is ground 0 for the fight against critical race theory. my colleague lawrence jones is there. what are people around you telling you about critical race theory? >> it has been fantastic, talking to folks all morning, eating breakfast with them, talking about crt. a lot of parents say the way

they are teaching history is the problem. they don't care about talking the good, bad or ugly but the indoctrination, telling people they are inherently bad because of the color of their skin, and as you know this has become the ground 0, you heard a lot about this but when these parents started to go to school board meetings and get a lot of attention they say they want them to learn about history. the way they are doing it nothing gives them an opportunity to learn and grow. stuart: okay. president biden signed a bill establishing juneteenth, june 19th, as a federal holiday. you are a texan. hasn't it been a state holiday in texas for 41 years?

>> i am a texan, it is literally tattooed on the. i've been separating juneteenth ever since i could talk. it is nothing new for us. in the country people are not aware of the history, lincoln signed the emancipation proclamation but the union soldiers didn't make it to texas in 1865 and they know they were free so it is something that should be celebrated by all political parties. the founding of the texas republican party was because of a freedom coalition. biden may have signed this legislation but if you remember donald trump they recommended it be a holiday as well. good to see bipartisanship, if we learn from history we have to acknowledge the past, talk about it and move forward. in loudoun to talk about it,

that is a way of going the other direction. talk about the bad, learn from the bad and make sure we don't repeat those bad steps. stuart: well said. just for the record i don't think it is a state holiday in texas but certainly a holiday for my friends, colleagues, fellow fox guy lawrence jones. i am getting a little tongue-tied this morning. thanks very much, see you soon. jpmorgan, ups, wells fargo, they will allow employees to take the day off, juneteenth is the first new holiday created in four decades. tomorrow, june 19th. loudoun county parents outraged over critical race.. very powerful speech from a father in illinois. role tape. >> deliberately teach kids got it better than you because he is white, persecute white kids,

how do i have an degree if i am sitting here oppressed? stuart: you will hear more from him later on this program today. people getting the jab to protect themselves from covid but what if you are able to take a pill? health officials trying to make that happen. docs eagle response in a moment. look at futures? plenty of red ink, nasdaq down 68, the dow down 60. more varney after this. ♪♪

[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”] obsession has many names. this is ours. the lexus is. all in on the sport sedan. lease the 2021 is 300 for

$379 a month for 36 months. experience amazing at your lexus dealer. i am robert strickler. i've been involved in communications in the media $379 a month for 36 months. for 45 years. i've been taking prevagen on a regular basis for at least eight years. for me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. and i enthusiastically recommend prevagen. it has helped me an awful lot. prevagen. healthier brain. better life. [sfx: psst psst] allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! all good nobody builds 5g like verizon builds 5g because we're the engineers who built the most reliable network in america.

thousands of smarter towers, with the 5g coverage you need. broader spectrum for faster 5g speeds. next-generation servers with superior network reliability. because the more you do with 5g, the more your network matters. it's us...pushing us. it's verizon...vs verizon. and who wins? you. you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq in business, it's never just another day. it's the big sale, or the big presentation. like you the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds

to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

stuart: the beach in saint augustine, florida where it is 77 degrees, futures point south this friday morning, down 260, down 60 on the nasdaq. the vicks indicates volatility, the volatility index a little shy of 20, highest reading since late may. now this. a bipartisan group of senators want action to boost chip production. there is a shortage. what is the plan? >> 25% investment tax credit. if you invest in semi conductor manufacturing in the us that is what you would get. who does it benefit? i semi conductor building a factory in arizona. and xp, intel and micron technology just a proposal, it would have to be sent to the house but it shows a bipartisan

desire to the widespread ship shortage in the us and bring jobs back to the us. stuart: it really is affecting just about everything. we need more chips and that is a factor. big tech, premarket this friday morning. all of them on the downside. lena con, head of the federal trade commission, is a major critical big tech. mark mahaney with us this morning. what danger does this post a big tech? the danger of big fines coming or a break up of some of the more what? >> those are two of the possibilities, the third is the curtailment of the more aggressive practices of these companies. if there was one critic you could have put that would most threatened big tech it would be lena con, a very well-known

track record, thoughtful details work on the challenges so now we will see what happens, the risk for investors in names like amazon, facebook and google is higher so this the multi-year rising of risks and the valuations trimmed down, they are a couple turns lower because of this regulatory risk. not a dramatically greater risk. stuart: facebook and google most at risk. i'm sure you've seen this but said governor james bullet is a rate hike is coming in 2022. that's not good for big tech, is it? >> for speculative tech, names that are not profitable, based on future, that is a problem. those future profits get

discounted, the less the present value, for well-established big tech names it is less of an issue, names like facebook and google stands on their own with 20 xp multiples that are pretty reasonable. you see them trade off in a raising right environment than what i call speculative technology. stuart: full disclosure, i am an owner of microsoft stock. i have done very well. that's my full disclosure. my question to you, microsoft is less at risk another big techs. i don't see a break up of heavy fines, being a monopoly or whatever but having less risk than all the others. what say you? >> that did not come up in the list of companies highlighted under the bipartisan big tech

antitrust regulation bill, it doesn't have the social media lightning rod risk that facebook and google and youtube have. microsoft seems more immune to regulation than the other names. stuart: a fine backup for my position in microsoft. staying on big tech, envisions a world of virtual reality. into those crazy goggles that you are supposed to wear. >> advertisements in those goggles, i think he is dreaming but this is going to happen nonetheless. we are talking virtual-reality

fitness, extending the vr experience, making it the next computing platform after the phone. the kerber gave an example compared it to a telephone description so you would subscribe to a gym class you become immersed in through that vr headset. you whip the phone out of your pocket it is easy. i don't see myself carrying around the clunky pair of vr goggles unless they make them sleek or something but people might? stuart: you don't get seasick, it just happens to me. i keep doing this, the goggles, i put them on and they make you feel ill to me. >> i tried a set a few years ago. they are probably sleeker now but it was heavy on my head and kept falling off. i can't work out like that.

stuart: certainly not. how about virtually oh god. let's look at the market again as we close in on "the opening bell". the big deal is down 300 points, the governor of florida, rhonda santos, pardoning everybody in the state accused of violating local covid mandates. he says it is time to focus on real criminals. ♪♪

centrum multigummies aren't just great tasting... they're power-packed vitamins... that help unleash your energy. loaded with b vitamins... ...and other key essential nutrients... ...it's a tasty way to conquer your day. try centrum multi gummies. now with a new look.

one, two! one, two, three! only pay for what you need! with customized car insurance from liberty mutual! nothing rhymes with liberty mutual. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ stuart: check futures down 270 points, 60 for the nasdaq. gary, is this it? the big inflation scare selloff? >> we are in the midst of selling off. more of the economy hitting the wall. all of the areas that lift and off november 9th, the day the vaccine announced the last few weeks and i am pretty sure it

is telling that the economy, not necessarily in style mode, a lot of retail commodities popping out pretty well and more to go in the near-term. stuart: what do you make of the fed governor saying more inflation than we were expecting? a real rate increased by 2022 waving warning signals right there? >> also waving the warning signal after prices started going up and that is the worry. a lot of credibility is lost when they report the news with the fed. most people don't know that james bullet is jay powell's mouthpiece so very often he telegraphs moves and if the next moves titan the policy, i

am a big believer that markets have been living off of the trillions of dollars of printed money and 0% rates so that is something to watch closely. stuart: we can't just dismiss what he has to say, there is real meaning here. >> absolutely. that message to the market is number one but also meaningful because it presages a change in stance from the fed. they have been easy easy easy, take away one of those easys could have a major impact on markets because of what i said a couple seconds ago. on the first chapter in the fed. stuart: if you buy anything today. >> let me say this was the nasdaq 100 was all-time high at

the close yesterday and a lot of nasdaq stocks have been coming on because interest rates come down. anything having to do with opening up vaccine trade they are under serious pressure and i suspect there is more to go right now. stuart: you've had a good run for the last 10 years being a manager of someone else's money. a lot of you have done pretty well for your clients but i wouldn't want your job right now. i would not want it for whatever the expression is. how are you doing? >> i love what i do. we work very hard at this. every night i look at 2000 spots, 200 sectors, every country, every commodity and look for major trends to stay away from an area or be in an area and take the microscope,

you talk about microsoft. the reason it has done so well is they keep growing their business leaps and bounds despite being such a big company. those are the things we are always looking for. stuart: it has been great having you on the show and we will see you soon. thanks for being here today. the ringing of the bell will occur right now. the company ringing the bell, the nasdaq is going public today. life sciences, they want to treatment of disorders with lsd and magic mushrooms and going public today. we will cover that. they are on the show in the 11:00 hour. we are often running and gone straight down. the dow is up one%, looking at the dow 30, every single one of them that opened is down, they are all in the red. american express not yet open but when it does we will see where it goes, the dow is down

405 points. the s&p way down, not over one% lower but 0.81%, plenty of red ink, the nasdaq is down half a percentage point, slightly less damage, look at the big techs. how do they do when we have james bullet with the fed governor saying interest rate hikes coming at the end of next year. that is not good news for big tech and all of them are down this morning, microsoft, apple, amazon, facebook, the financials, how did they do when there's a forecast of higher interest rates and some inflation? all of the financials are down significantly. all of them down more than one% other than citigroup which is down one%. how about adobe? only 2%, may be headed towards a record high, they had solid earnings. is that the story?

>> guidance was terrific, the maker of photoshop provides digital marketing, they are on track for another record year, sales a 3.8 billion, gain of 20% from last year. that momentum should continue and that is an annual high for adobe, 562 a share. stuart: we have a winner, a down market. let's check that out. we have the dow down about 400 points from the start. this is an inflation scare, down they go better than one%, 34,400 level as we speak. how about smith and wesson, they are the gun people. looking for a winner and we have another one, 7.6%, strong earnings, they raised the dividend 60% and a stock buyback program to boot. up they go, smith & wesson, the gun people, show me.you sign. one investment firm think the stock will go to $290 a share.

it is at 264 and up in a down market. bio jen got an upgrade from piper sandler, the alzheimer's drug, the demand for it says piper jeffrey. they will be strong despite the controversy about its authorization at the stock is up half a percentage point in a down market. come back in again. you are looking at the movers. delta on the upside. >> they got a double upgrade because business travel is going to return later this summer. that is excellent news and a down market is a nice game for delta. stuart: that is a confident prediction, business travel returns this year. haven't seen any sign of that this year. how about fox, our parent company? >> they are authorizing a stock repurchase. confidence in the company, they

have cash. it is good long-term. our parent company up a little bit today. stuart: pilgrim's pride. that company, what do they do? they are down. >> the chicken people. and irish company, for $950 million is usually when a company buys another company stock goes up and the company bought it, stock goes down. stuart: i'm interested in citigroup, they've been down a lot, what is the inside story? >> this is the 12 down day, looking at the sectors, the second worst performing sector today. the past 12 days, 15%, higher rates are typically good for the banks. we heard from jim bullard, scares out there, some concern economic growth is slowing so

the banks are week today. stuart: let's have a look at the dow winners, here are the winners. we haven't got any. i've not seen that in a long time. we have the top down losers. the s&p 500, there are several. adobe tops the list at 2.8%. show me some winners. adobe at the top that, $757 a share 1.5%. dow industrials down 380, 405, this is a down day on wall street.

the treasury yield, 152, james bullet's inflation move, down to one.49%. it is only up $0.50 an ounce at $175 or announce. bitcoin, 37,200 lower. oil, $70 a barrel. that is all the markets. manchester united out of britain, stocks traded, they lost $30 million, no fans. stock is up a fraction. so much for having different

views, roll it. >> don't care if he's apologizing. >> then you can be how you always are. stuart: that was a fight that ended up off the rails. stuart: the white house spending billions on pills to fight covid. the pills are in development. they would minimize symptoms, we will talk to doc siegel about that next. ♪♪

my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement. ♪ ♪ i had the nightmare again maxine. the world was out of wonka bars... relax. you just need digital workflows.

they help keep everyone supplied and happy, proactively. let's workflow it. then you can stop having those nightmares. no, i would miss them too much. whatever you business is facing... let's workflow it. servicenow. ♪all by yourself.♪ you look a little lost. i can't find my hotel. oh. oh! ♪♪ this is not normal. no. ♪♪ so? ♪♪ right? go with us and find millions of flexible options, all in our app. expedia. it matters who you travel with.

living with insulin requiring type 1 or 2 diabetes? how does no daily insulin injections sound? omnipod delivers insulin through a tubeless, waterproof pod. and the best part.. no more daily injections!

plus, omnipod is covered by most medicare part d plans. get started with a benefits check today. go to omnipod.com for risk information, and instructions for use. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod.

stuart: look at that. only 9:40 in the morning and ocean city, maryland, quite a few people, 72 degrees and sunny. the dow is off 350 on pace for its worst week since january. big tech all the way down across the board, lots of red ink except for amazon which is up $5, $34.94. the dow loses headed by intel which is 2.3%. nasdaq, put it up please. micron technology's down to a half%. lauren, we are talking volatility, you are watching the vicks. >> it was at 20.

that was a one month high. quadruple witching happens four times a year happening at the close, that is when single stock futures, they all expire and it adds to the volatility. down sharply today, expect a bumpy ride to continue, not the best time for stock performance and we are headed there next week. i would say strap on the seatbelts. stuart: that is great stuff but you are right, you are right to say that. let's change the subject. the administration is investing $3 billion to develop pills for covid. they would fight the virus early potentially saving many lives. what is your take on a covid pill?

>> too many months were spent studying covid treatments late in the game when people had this information when they were in the hospital. why would you use an antiviral drug after the horse is out of the barn. you want to get them before they get out of the barn. monocryl antibodies that have started to work were stated a little bit too late. the drugs that are coming out now i am very excited about, merck has that drug, looks good in late stage trials:small molecule. there is a drug like the hepatitis drug, pfizer has a treatment, that enzyme is responsible for viruses spreading and attaching to cells. we had enormous success with hiv and pfizer is on the road

here so pfizer and merck have promising treatments. i wish they were months ago. i'm glad they are now. stuart: there are reports of brain tissue loss for people who had covid. would that explain the loss of taste? >> it is a different issue but related. loss of taste is due to inner lining of nerves and blood vessels in the nose and mouth with that kind of thing that is going on is going on in the brain as well. we are seeing a lot of neurological aftereffects of covid. it is very concerning and another reason to get the vaccine if you haven't had it. people worry about vaccine side effects should be talking about this. it is concerning and it is real. stuart: later in the program, in the 11:00 hour, the ceo of a company which proposes to use lsd and mushrooms to treatment all illness and addiction. that is going back a couple

generations to the lsd of the 60s in 70s. what do you make of its use to treatment all illness and addiction? >> varney gets the best guess. how do you break that cycle? it is barbaric we use treatments like this, this breaks the cycle, lsd puts you in another place. mushrooms have been well studied. number of studies coming out, have shown over and over that this is a promising treatments, glad you have it. stuart: seems so strange, lsd, this day and age after the reputation it acquired in the past, that we might use magic mushrooms in a medical system, that surprises me.

>> think about it. these are people so severely depressed they keep going into the cycle and you are lifting them into a completely different place. it has got to be well controlled. we are not advertising this in any other way than a doctor's supervision but it changes your mindset overnight and for people like that, it has an enormously positive effect. it is a game changer. stuart: is there evidence that it works? >> absolutely. multiple studies have shown mushrooms and lsd work like this. hallucinogens work for severely depressed patients. more studies reveal this and it is absolutely going to be commonly used provided that it is carefully monitored. stuart: thanks very much, great stuff, have a great weekend. let me remind everybody this is an hour 11:00 hour.r this morn.

president biden's fourth of july vaccination goals are in some jeopardy. where exactly do we stand with vaccinations in america today? >> believe vaccinated american adults, that number is 147.8 million of us have gotten two shots or the j and j vaccine. the goal from president biden is 160 million. 65% of adults are partially vaccinated. the goal from the biden administration is 70% so he falls short on both of those measures. to reach his goal by july 4th some 13 million more of us would have to roll up our sleeves. it would be ambitious to get there but independence day takes on a different meaning this year. a lot of people are going to enjoy these newfound freedoms whether we get 13 million more

americans jabs or not. stuart: this weekend is going to be a big weekend. all weekend, people socializing and drinking and going to the beach, it is like back to normal. thanks very much. the governor of florida, ron desantis, granted pardons to individuals and businesses who were punished for covid violations. role tape. >> anybody similarly situated that has been criminally charged or prosecuted for any nonviolent offense related to covid restrictions and emergency orders, let's focus on the real criminals. a lot of this was way overboard. stuart: desantis said these fines and arrests for mask mandate violations were an overreach by local governance. next, fueling spending plans, 6 trillion from bernie sanders, 1

trillion from the moderates. who wins? my guess is the moderates and when bernie loses there will be hell to pay. inflation is hitting your fridge. you know the bacon you love for breakfast, it is up 13% in the last year and jeff flock says it is not going to stop there. ♪♪ welcome to allstate, ♪ ♪are you down, d-d-down, d-d-down, d-d-down♪ where we're driving down the cost of insurance. ♪ ♪ are you down, down♪ ♪d-down, down? are you♪ drivers who switched saved over $700. ♪ allstate. here, better protection costs a whole lot less. you're in good hands. click or call for a lower rate today.

stay restless, with the icon that does the same. the rx crafted by lexus. get 1.9% apr financing on the 2021 rx 350. experience amazing at your lexus dealer.

it's time for sleep number's summer sale on the sleep number 360 smart bed! it's the most comfortable, on the 2021 rx 350. body-sensing, automatically-responding, energy-building, dually-adjustable, dad-powering, wellness-boosting, foot-warming,, temperature-balancing, recovery-assisting, effortlessly life-changing... proven quality night sleep we've ever made. and now, save up to $500 on select sleep number 360 smart beds. plus, 0% interest for 48 months on all smart beds. ends sunday.

stuart: as you know, meat prices are popping, hotdogs, going up in illinois. in the middle of that. farmers think bacon prices are going up more. >> they are not sure. they tried to wheat me right now. how many hugs? >> 55,000 this year. >> the price is up, going

higher. >> let's calm down. last year was a bad year for farmers. there was a cut back due to covid and 70, demand is spiked but calm down, prices will come back for the good of agriculture, not very far. >> reporter: farmers make all the profits on that. >> we are at the bottom of the supply chain. >> talk about perfect storm, the jb is hack. everything is computerized now. everything they sell is on computer. it is all on a computer somewhere. if somebody throws a monkeywrench into that. >> from scheduling to payment it is all computerized, resilient but complex supply chain. >> reporter: you wonder why i

have a white suit on, maybe you can see, hey, that was my rear end. knock that off. at any rate that is the requirement. stuart: save your self. we are going to leave jeff to the hogs is bacon prices might go up. still ahead, look at the markets, the low of the day down 425, the nasdaq is the low of the day down 81 but the dow taking it on the chin because of an inflation scare. tammy bruce, steve olson, kennedy just ahead on the second hour of varney. ou say ♪ ♪ i got a crack in my windshield... ♪ uh - uh, lisa, maybe less heartbroken?

geico lets you file a claim online, over the phone or with their app. ♪ that makes me wanna say... ♪ ♪ stay... ♪ (sniffles) are...are you crying? uhh, there's pollen... geico. great service without all the drama. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does.

with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you.

♪ ♪ hello, hello ♪♪ stuart: that's got a good rhythm to it. it wakes you up. good morning, everyone. straight to your money, this is important. we've got a selloff. the dow industrialses now down 380, had been down over 400. nasdaq down over 50, had been down nearly 70. the yield on the 10-year treasury was all over the place today, it's now at 1.51%,

actually moving just a little higher because of some inflation scare that's going on. that's what's hurting stocks as well. that the vix on your screen, it actually hit 20 earlier this morning, the highest reading in about a month. it's going to be volatile. big tech almost all down except for amazon which is ever so slightly higher, the rest on the downside. that's because of this inflation scare. as for the cryptos, not that much price movement this morning, but some investors might be getting a little worried. bitcoin has failed to get back to $40,000 and stay there. and ethereum down to 22.78. that's the markets. now this. we're going to find out real soon just how strong the socialist wing of the democrat party really is. bernie sanders demands a $6 trillion spending plan.

repeat, $6 trillion. and that is on top of all the spending we've already done and all the trillions the federal reserve has already printed. there is an alternative proposal. a group of 20 senators, both democrats and republicans, has a plan which sends -- spends under $1 trillion. $6 trillion, which requires the vote of every single democrat in the senate, versus less than $1 trillion. bernie's plan is clearly a long shot. frankly, it doesn't have a prayer. he simply cannot get 50 senate votes to spend $6 trillion. there will be hell to pay. the socialists have set their hearts on socialized, government-run health care, confiscating wealth and, yes, the green new deal. but they don't have the votes. in the next few weeks, it will become clear it's the far left versus everyone. and in my opinion, the socialists lose. i hope. the second hour of "varney &

co." is about to begin. ♪ ♪ stuart: jonathan hoenig with us this friday morning. i bet he liked what i just had to say. [laughter] >> yes. well -- stuart: go ahead. look, i do hope the socialists lose, because we can't afford this. absolutely not. what do you say? >> well, i mean, stuart, if we only get $1 trillion in spending instead of $6 trillion, i don't think the socialists actually lose. you know why? because the opposition has given them that basic, fundamental premise that government spending creates wealth. and that's what bernie and the socialists believe. the more the government spends, the wealthier and healthier the economy gets. in fact, just the opposite is true. the less wealth, the less jobs, the less productivity, the less quality of life. all that money that government

invests -- aka washes down the toilet -- is either borrowed, taxed or printed, as you said. 20% of all the money in circulation now was printed in the last year leading to inflation if, and that's a tax on the poor more than anyone else. stuart: well, we've got inflation. it's happening. and we had this statement or just a comment from the fed governor james bullard this morning, i'm sure you've seen it, that we're going to get a rate rise at the end of 2022, and we really do have inflation. the dow's now down 460 points. where do you stand on inflation? is it transitory as the fed thinks, or is it here to stay bigtime? >> we always talk about how the fed is behind the curve, stuart? on this program we've been talking about higher commodity prices, lumber, soybeans, gold, you know, around the horn for months now. so finally now the fed is saying, in fact, you know, maybe there is some inflation. look, central planning doesn't work, we know that.

it certainly doesn't work when it comes to interest rates. i think this is another example of the fed being behind the curve and just mucking up the, you know, the workings of a free market in general, stuart. the same thing with taxes as well. biden's talking about a death tax that for some businesses, bigger businesses, could mean a 60% hit. all this intervention is really bad for the economy, i think it's one of the reasons you're seeing the dow take a real dump today. stuart: so as of right now, you manage other people's money. that's what you do for a living. what are you doing? what are you telling your investors? where are you investing on a day like this? >> there's that wonderful line for "west wing" where the president says see the whole board, and for years, stuart, we've been covering and talking about big technology stocks. but there's a transition afoot. the new growth stocks now are banks, they're oil stocks. that's what i'm looking at,

emerging market ideas, for example. i'm looking to transition away from old favorites and frankly, stuart the, i'm worried about a liquidity trap, you know, the market gets hit and everything gets sold off. we're seeing so much froth out there, you know, the nft market, bitcoin, the day traders, the meme traders, etc. this is a market that probably needs a little slap on the tootsie, as they say, and i think we could get it sooner rather than later. stuart: ouch. we're down 460 now on the dow industrialses. that's a selloff. okay. hey, jonathan, have a great weekend. see you next week. >> be well. stuart: president biden signed a bill to make juneteenth an official federal holiday, and take a look at this op-ed in "the washington post." think juneteenth is only a symbolic win? celebrate anyway. who wrote that? i'll tell you with, she's here. tammy bruce. great stuff, tammy. i'm not surprised at this, but i

want you to make the case why we should celebrate this new federal holiday. >> well, you know, in general, look, this is something that clearly is a momentous event in american history. it is, of course, as many people now perhaps are learning, it took a long time for the emancipation proclamation to be able to be even told to blacks and americans in the western part of texas which remained under the control of the confederacy. so it's the day, while the emancipation proclamation passed in 1863, of course, then you have the 13th amendment, it still, it took two years for our union soldiers to get to texas as we were doing throughout the country reading the emancipation proclamation if so that americans who were black would know that they had been set free. you couldn't implement it in con fed are rate-controlled states -- confederate-controls states, of course, but finally we were able to get it through

to texas at the end of the civil war. that was for 250,000 black americans who did not know that they had been set free. so that is why juneteenth is important. it really is the culmination of lincoln's dream of the suffering, the misery of the civil war to bring this nation together and to set black people free. it is a remarkable, it is a holiday for all americans certainly signifying what all of us went through to make sure that we could become a better country. we are constantly on that road, always practicing being americans. and it is something that, frankly -- and this is why the democrats are trying to politicize it, trying to make it about anger andty vision -- division, because it's a holiday that actually reminds us we're all in this together. and this is why it's important to celebrate and to not let the democrats control the narrative on this. stuart: headline in "the washington post", i think it's "the washington post," and it says holidays are easy, but real

progress is hard. i'm inclined to agree with that. what say you? >> well, yes. but, of course, in this kind of a case just like the fourth of july, which is also for all of us, it signifies recognizing that hard work. it signifies the nature of the progress we've made. the left expect democrats are arguing that -- and the democrats are arguing this is a signal -- and even biden in his comments announcing in that it was about the suffering and the misery of the past, i'm paraphrasing here, and all that still the exists today. you know, it takes a democrat to looked at something wonderful and declare it something about misery and victimhood. they want perpetual victims. all americans, especially black americans, know in the difficulty of that struggle that things and do get better, that americans want this nation to be the best it can be and that your neighbor, regardless of their skin color, are on your side.

clearly, there's work we still these to do. the human condition is fragile. but we are working on that, and juneteenth and other dynamics where we celebrate how we move forward, i think, speak to that struggle and to the celebration. stuart: tammy bruce, thanks for being here. great stuff today. we appreciate it. and we'll see you next week. >> thank you, sir. stuart: let's get to the big banks. some of these big banks are actually allowing workers to take the day off for juneteenth. all right, lauren, which banks are we talking about here in. >> good morning. ubs, bank of america, wells fargo so they can get a floating holiday this year because juneteenth is a saturday this year. so you just tell your manager the day you want to take within the year, and you can get it. now, the stock exchanges are open, and with that, the banks are open as well. it might be different next year because companies and organizations will have a whole year to implement it. stuart: got it.

you're also looking at some of the movers. let's start with the nasdaq winners. what do you have for us? >> i was looking at these names, docusign, okta, zoom, and the leadership, just like the good old days, right in the stay at home stocks. so there are three winners for you, and docusign up in a big way on such a down day. gap is falling hard today, so are hasbro and mattel. what's interesting here, this is a new york post report, because it's so hard to ship anything anywhere these days and so many toys come from china, the post is warning of a toy shortage potentially this christmas. they don't have the containers available to get those toys here. so something parents need to watch out for. stuart: it's june the 18th. christmas is december 25th -- >> yeah, it starts now. stuart: we're assuming this shortage, these supply chain difficulties last for the next seven months?

that's really quite something. >> i know. and i'm worried. [laughter] stuart: yes, well, you've got three children. you've got that right. all right. let's see, let's take a look at -- have we got nasdaq winners? no, we don't. what we've got is this the: one dad, that man on your screen, ripping apart critical race theory at a school board meeting. listen to this. >> you're going to deliberately pc it? this white kid right here just because he's white? you're going to personally tell a white kid, oh, the black people -- i'm sitting here oppressed. stuart: he opposes critical race theory. he made a powerful speech. you're going to hear more of it just ahead. first, canoo, american electric vehicle maker, opening a shop in oklahoma. how did oklahoma get 'em? i'm asking the state's governor. he's on the show coming up. plus, president biden says russia's putin offered to, quote, help in afghanistan.

do we want their help? and what kind of help would they give us? retired four-star general jack keane here to answer that after this. ♪ -- never, ever, ever getting back together. ♪ we are never, ever, ever getting back together ♪♪ stay restless, with the icon that does the same. the rx crafted by lexus. lease the 2021 rx 350 for $449 a month for 36 months.

experience amazing at your lexus dealer. uno, dos, tres, cuatro! [sfx]: typing [music starts] $449 a month for 36 months. [sfx]: happy screaming [music ends] [laugh] dad i got a job! i'm moving out. [laugh] dream sequence ending no! in three, no! two, keep packing! one. nobody builds 5g like verizon builds 5g. thousands of engineers taking peak performance to a new level. that's why in parts of many major cities where people can use massive capacity

we added verizon 5g ultra wideband, the fastest 5g in the world. it isn't just a step forward, it's a leap forward. because the more you do with 5g, the more your network matters. it's us pushing us. it's verizon vs verizon. and who wins? you. 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

>> yes, we talked about afghanista. he said he hopes we're able to maintain some peace e and security, and i said that has a lot to do with you. he indicated that he was prepared to, quote, help on afghanistan. stuart: president biden describing his conversation with putin. let's bring in retired four-star general jack keane. general, long time no see.

it's great to have you back with us. >> yeah, great to be back. stuart: expecting putin to help us in afghanistan? what do you make of that? >> yeah, sounds pretty ironic, i know. putin and russia have been providing the taliban with money, weapons and ammunition. obviously to do all that they can to drive the united states out of afghanistan. they are absolutely thrilled that we are leaving afghanistan. the been factors of the united states -- benefactors of the united states leaving south asia will be russia, iran and china. they're all in the neighborhood, and they will be the benefiaries. what this is about, stuart, is the reason why russia went into afghanistan in the 1980s is because of the radical islamic threat on their southern flank. he still has that concern. he has the same concern that we have, that al-qaeda and isis may, in fact, remerge.

he's not worried about the taliban threatening them, but he's worried about those two organizations. and it's possible that he will give us some space in one of the countries in the southern flank, uzbekistan or tajikistan where we can put a base in and still provide support to the afghanistan military. if he comes through with that, that actually will be very helpful to us. stuart: okay. what about all those people who helped us when our military was in afghanistan for all those years? i'm thinking of interpreters and other people who worked with us. can't we do something for them to get them out before the taliban takeses over and kills 'em? >> yeah, that's a great question, and it's a great concern that we all have. the bureaucracy to get people out through the state department averages about nine months from the point of the request. obviously, we can't move at that kind of glacial speed given half

of the u.s. troop it is are already gone as well as nato, and in another month or so the reminder are going to be gone. we have thousands still there, and they have already killed hundreds. is so what can we do? i think the only thing left for us is to gather them up, fly them to a third party country, hold them there and, obviously, in decent facilities and vet their entrance into the united states. that way we can protect them and safeguard them. and we have a moral obligation, in my view, to do just that. their lives are in jeopardy. the taliban has made a statement that they're not going to do anything against these interrogators and interpreters that we had. believe me, they've already killed scores of them, they will do everything they can to punish them. stuart: what do you make of the current state of morale in america's military? >> oh, it's very high.

listen, we've got resources that we haven't had in years as a result of the trump administration budget. the problems that we had with lack of training for our pilots, lack of training for our ground units and sailors at sea, all of that has improved. we've got a way to go in terms of getting advanced capabilities that we need, particularly to deal with the china threat in the western pacific. we've got -- they outgun and outman us. but in terms of morale, cohesion, we're meeting our recruiting objectives, the force is healthy, trained and prepared. we've had the resources for a number of years to make that, to make that turn on our preparation and readiness, and we're there. stuart: good to hear. general jack keane, always good to see you. don't be such a stranger. >> yeah. can't wait to see you in the studio, stuart. stuart: yeah, me too. it'll be great.

it's coming soon. all right, general, let's take a look at this. nearly -- actually, it's over 2 million people passed through checkpoints yesterday, tsa checkpoints, that is, compared to 576,000 on the same day one year ago. you know, we're getting back to normal. i think this is going to be a huge weekend for air travel. well over 2 million each day. that's my opinion. let's see how it works out. the european union lifting travel restrictions for american visitors. lauren, does this mean all restrictions on american visitors are lifted across the board? is that right? >> no. each of the 27 countries can impose any requirement they want to whether it's vaccination or a negative test result. but, you know, you could kind of say pack your bags now, you can go to europe for the first time in, what, 16 months? and you actually do not even need to be vaccinated to do so. this is going to be a logistical headache, i think anybody taking these big international trips

for the first time in a while, you probably have to show proof of vaccination or something depending on where you go. every country has a different rule. but the countries that are reopening to american travelers right now, i think this is a really good sign. and i know tons of people who are booking trips. stuart: i wish i could go to australia and new zealand. but at this moment i can't. let's move on. that's my problem, not yours. talk to me about boeing. i see it's down today, but what's the news? >> yeah, i want to go to australia too. the news is the maiden flight of the 737 max 10 is scheduled to take place about three hours from now in seattle. so this is the largest member of the max family. this is a big deal because the max was one of the planes that was grounded about two years ago because of the fatal crashes. so there are going to be tough regulatory reviews to get this new jet back in the air. it's not expected to do so until 2023, but this is a big deal for boeing today.

they're trying the keep it low key because of all the negative pr that does surround the name of that line, right? the 737 max. stuart: yeah. well, boeing is a dow stock. the dow is down 440 points. fed governor james bullard says there'll be a rate increase in late 2022, down goes the stock market, and that's where we are right now. then we have "the view," okay? we're down 442, that's 1.3%. 33,000 on the dow, as we speak. now, "the view" takes on president biden's relationship with the press in geneva. roll tape. >> if trumped had done that, we would be screaming at the top of our lungs. >> the thing that i never saw trump do was apologize to anybody. stuart: it really went downhill after that. i'll be talking to former press secretary kayleigh mcenany, what she makes of that fight. and then we have electric

carmaker canoo opening up shop in oklahoma. if governor of that state -- the governor of that state is here next to tell us how he got them to choose tulsa. ♪♪ centrum multigummies aren't just great tasting... they're power-packed vitamins... that help unleash your energy. loaded with b vitamins... ...and other key essential nutrients... ...it's a tasty way to conquer your day. try centrum multi gummies.

now with a new look.

living with insulin requiring type 1 or 2 diabetes? how does no daily insulin injections sound? omnipod delivers insulin through a tubeless, waterproof pod. and the best part.. no more daily injections! plus, omnipod is covered by most medicare part d plans. get started with a benefits check today. go to omnipod.com for risk information, and instructions for use. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod. keeping your oysters business growing simplify life. has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo

♪ make me wanna take the long way home. ♪ put a little gravel in my travel ♪♪ stuart: oklahoma, right on the state line, actually, between oklahoma and arkansas. great weather. 82 degrees and sunny. i could go for that. now let's take a look at canoo, it's an electric car company. they're going to build their cars right outside tulsa, oklahoma, and the state's governor, kevin stitt joins me now. i don't mean to be sarcastic, but how much did you have to give 'em in tax breaks to come to your state? >> well, that's all classified, but, you know, oklahoma was the right spot for them to be located. we're the number one place to locate a manufacturer. we are open for business in the state of oklahoma.

we have the right work force. and from a manufacturing standpoint, the number one cheapest electricity cost in the entire country. so it was a no-brainer for them. we're so excited to have them in the state of oklahoma. stuart: why is it a state secret that you can't tell me what you offered 'em to get them to come? >> well, there's nondisclosure agreements that both we signed, the company signed, and so those things are private between us and them. but the it's the general, you know, quality of jobs act, the governor's closing fund that we use to recruit businesses. so we're certainly open for business, and we'll sit down and put our best foot forward. we competedded against five other states and were able to win this deal. but we're so excited. this auto manufacturing, canoo is going to be the future leader for ev vehicles around the country. people need to take notice of this country. tony, their ceo is a fantastic,

brilliant business person, and they're going to be super successful. they are the company to look at. stuart: okay. you ended unemployment pay, federal unemployment pay, you ended that, and you are offering $1200 for the first 20,000 workers who get off unemployment in oklahoma and put in at least a 32-hour week. that tells me, governor, that you must be desperate for workers. >> yeah, you know, unemployment is designed to be a trampoline, not a hammock. we want to help people get back into the job force. and the facts are we've got low unemployment, we have plentiful jobs. we have 60,000 job postings, and so we need to get our work force back working. so we wanted to opt out of that federal assistance that was paying people more money to stay at home. and then i wanted to incentivize people, we gave 'em a six week runaway before those benefits -- run before those benefits ended.

let's reward those first 20,000 people, and that's when we did that $1200 incentive. stuart: when canoo comes to your state and builds their plant, to build minivans, i understand it, they're going to need 2,000 workers. have you got those 2,000 workers? are they confident that they've got, that you've got the 2,000 workers? >> well, we do. you know, when you look at labor participation all across the country, there's a lot of folks that are on the sidelines. we have 4% unemployment right now in the state of oklahoma, but we're alsos investing in our career techs, skills to rebuild. i'm trying to encourage all of oklahoma mans that if you feel like the job market's passed you by, we want to help invest in you and retrain you for those jobs of tomorrow. we do feel like we have those. we're strategically located in oklahoma where they're going to put that facility. it's right next to the largest google facility in the country. and so we've got the jobs available, we can draw from all parts of our state, and we're

excited to have 'em here. stuart: i was in oklahoma -- i've not been there in about ten years, but when i was there last, a lot of people kept on coming up to me and saying did you know oklahoma is the most republican state in the nation? i don't know whether that was true then. is it true now? >> you know, i think so. i mean, we believe in freedoms, if that's what republican means to you, we believe in freedoms, personal responsibility, we believe in lower taxes, being open for business, encouraging entrepreneurship and investment. i cut taxes this year. we did an open transfer. we believe parents should have more choices where to send their kids to school. so if that is what you consider the most republican state, then absolutely, we -- those are our values in the state of oklahoma. but, you know, it's very important to note that we are pro-business in oklahoma, and i think there's never been a bigger difference between our state and some of these shutdown states around the country.

and businesses are taking notice that. that's why canoo from california is moving to oklahoma, and they chose our state over some others. stuart: why am i not surprised that you'd leave los angeles and go to oklahoma to produce a manufacturing plant? no surprise there, governor. >> no surprise. stuart: it was great to have you on the show. come and see us again soon. thank you, governor. >> thank you. stuart: now this. a new report shows just how much of a negative impact the lockdowns had on the middle class. middle america. >> yep. stuart: big impact. break it down for us, lauren. >> the shutdown, jobs for middle class workers, retail, transportation, education, this is a study by harvard and brown university with the dates foundation, and they kind of used $60,000 as the line of demarcation. workers that earned more than that saw their employment grow by 2.4%. those making less, it fell 4.5%. and if you made even less money,

$27,000, employment declined almost 24%. so when you lock down the economy, you locked a lot of these workers out of the work that they did. they didn't have the luxury of working from home. stuart: okay. sorry, i lost my sound. this thing in my ear, it went dead for a moment, and you're lost on television with one of these things. all right, this is something i'm really interested in, and you've got the story. there's a grocery store offering color-coded bracelets so that shoppers can anticipate how they would like -- indicate how they would like to interact with people. what color bracelet do they have if you want to say get away from me? >> get away from me is red, okay? yellow is maybe like an elbow bump is acceptable. green, come on over here, come hug me, give me a high-five, i want to talk to you. it's a silly idea. it's the happening at a grocery store in wisconsin, but i think it's aiming to end that awkwardness that we feel when we run into somebody that we

haven't seen in a while? what can i do, i guess you could look down at the bracelet? it could replace the face mask, right? i feel like if someone's wearing a face mask and i'm not, they're a little skittish. they're a little apprehensive. so maybe they can take off the face mask and just put on, like, a yellow bracelet or something? silly. stuart: just give me a red bracelet and leave me alone. >> you'd wear red, stuart? yeah, maybe you would, actually. you would. stuart: in this case, yes. [laughter] get away from me. [laughter] not that i'm standoffish. >> i'm wearing no bracelet. how about that? stuart: ooh, mysterious lady. all right. yoga teacher, to boot. thanks, lauren. broadway is coming back, but people who got the astrazeneca jab will be turned away from one big show. we're going to tell you which show they're going to be turned

away from and, of course, why. but first, the big business of boating, super yacht sales up nearly, what, 50% this year. we'll show you what you can get -- [laughter] for $5 million. we'll show you what you get. ♪ ♪ rock the boat ♪♪

♪ na na na na ♪ na na na na... ♪ hey hey hey. ♪ goodbye. ♪ na na na na... ♪ hey hey hey. ♪ goodbye. ♪ na na na na ♪ na na na na... the world's first six-function multipro tailgate. available on the gmc sierra.

♪ stuart: clearwater, florida. 79 degrees, just a tad overcast. better than being on wall street where the dow is down, bottom right-hand corner of your screen, down 461 points. we've got an inflation scare. and, by the way, bitcoin just dropped below $37,000 per coin. so you've got a selloff on wall

street, but it looks good at the beach. then we've got this, super yachts seeing a buying boom. sales exceeding $1.3 billion this year. could be the biggest year with ever for that industry. cheryl casone is right there at the steel point yacht and charter show in connecticut. all right, how much is the yacht that you're standing on right now? >> reporter: $68 million is the value of the lady catherine, sir stuart, and good morning to you. this yacht show in particular, they are telling me that they've got a huge they in getting yachts delivered because the super wealthy around the world want to be on a yacht, and that happened during covid. the lady catherine, she is 2003 feet, yes, for $68 million. you can charter her, stuart, for about $536,000 for one week. she's got -- she sleeps 12, she's got 6 cabins. there is a jacuzzi, there is a cinema, stuart, there is a driving range, you can play golf. there is a slide.

it comes with kayaks and jet skis. every luxury that you could want. we've got pictures, because there's no way i could go up and down four decks for you in 90 seconds because i know my limit. one of the things about this year and the super yacht boom, you mentioned the $1.3 billion in sales, that's just the first quarter of 20231. what this tells you is that the sales boom is going to keep going. and if you have any questions, i'm just right here for you, stuart. look, this deck that i'm standing on can be converted into a helipad if you needed to in an emergency, and they also have today for sale a $2 million helicopter which you can see over my shoulder right there. i'm going to be going up on that little baby this afternoon, stuart. but this is what happened during covid, and it's continuing, sales are continuing. stuart: that was my question. i mean, i can understand the superrich going on a yacht to ride out covid and the restrictions, i got that.

what surprises me is that now covid is basically gone or walking away in america, i'm surprised there's still strong demand for yachts worth $68 million. you have a nice day -- >> reporter: 70%. stuart: -- cheryl casone. you're in the right place at the right time. >> reporter: 70% of those superyacht sales are going to americans, stuart. americans. stuart: yeah. there's a lot of rich americans these days. all right, cheryl, have a nice day as i said before. i know you will. see you later. let's get back to the markets. yeah, it is a selloff. dow's down 471, nasdaq's down 68 points. what are you watching in particular, lauren? >> i want to show you stocks hitting new highs. that is happening today. nvidia is one of them, bank of america gave it a $900 price target. it's up 48% this year. menards, great earnings report earlier this week, that stock is higher by more more than 3.5%. and we have a new high for

adobe. obviously, they reported late last night, solid earnings, solid guidance, and if you look at what the wall street firms are saying, the bottom line is this cloud demand will last post-pandemic. stuart: always look on the bright side of life. is so when the market sells off, look for the new highs and the big winners. great stuff, lauren. wait a minute, you're not done. how much time did we spend streaming on tv last year? how much -- what proportion of our time were we spending streaming? >> okay, i was surprised by this, but i will explain. so if you look at streaming out of all tv viewership, it's 26% of total viewings. broadcast tv comes in at 25%. and cable tops the list at 39%. okay. a quarter of our time watching tv is streaming, so that seems very low. but the way nielsen breaks it down is, okay, you're streaming that netflix show on the television. it doesn't count streaming it on your phone or ipad or something like that.

so i think the number is much bigger, but this is how they're determining it, and it was from may of 2021. stuart: i agree. i've become a streamer just like about everyone else in my family. this is for you, lauren. the book of mormon, the broadway hit, they're going to return in november. but they're talking about some changes? >> they have to. what was funny for this play that won nine tony awards, it might not be funny now. is so when they come back to broadway november 5th, they've acknowledged, look, our humor hasn't aged well, and they're going to edit some of it out. stuart: okay. what do you make of this one? the first show to make a live return will be springsteen on broadway, but they're telling the audience you can't come in if you got the astrazeneca vaccine. what's that all about? >> i know. it's because the astrazeneca vaccine is not approved right

here in the u.s. this is going to be confusing, i think, because if a canadian or european comes to new york city, broad is reopening, they might be -- broad is reopening -- broadway is reopening, they might be turned away because they have received the astrazeneca vaccine and americans have not. stuart: that's it? the. >> that's it. stuart: i absolutely don't get that. i really don't get that. >> it might change come november when the rest open up. i know, it's confusing. this whole thing is confusing. stuart: it really is. all right, gotta go. all right, a new study reveals the best state to live in. you're probably not going to be able to guess it. i'll leave it at that. i don't know whether it's california or not. but first, back to work. we hit the street to find out how people felt about returning to the office. he's going to join us next. cre. i needed just one simple way to pay it all off.

it was an easy decision to apply with sofi loans, just based on the interest rate and how much i would be saving. there was only one that stood out and one that actually made sense and that was sofi personal loans. it felt so freeing. i felt like i was finally out of this neverending trap of interest and payments and debt. ♪♪ incomparable design makes it beautiful. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. [sfx: psst psst] $359 a month for 36 months. allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! all good

♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. 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: first thing this morning fed governor james bull ard said there'll be an interest rate increase likely in the end of 2022. he also said there was more if inflation than we, the federal reserve, was expecting. we've got an inflation scare on wall street. the dow is now down 500 points, the nasdaq down 84.

the selloff is accelerating as we speak. look at bitcoin. way down as well. it's at $36,600 at the moment, down about $1,000. the 10-year treasury, though, is now down to 1.47%. that's not supposed to happen when you got an inflation scare. maybe money is coming out of treasuries, and i don't know where it's going. but we've got 147 on -- 1.47 on the 10-year treasury yield as we speak. the other side of the coin is more people are coming back to the office. the question is, how do they feel about it? the that young man right there is mike gunzelman. you went out on the street getting the pulse of the city and people coming back. are they eager to come back to the office? >> not fully. the big thing was, listen, now that things are back and we're getting back to normal from the work standpoint, do people want to do are remote, hybrid or five

days a week. and the answers might be interesting to you. let's check it out. ♪ ♪ >> do you feel a lot of people want to continue working remotely when things continue to open up? >> i think they would. they don't have to spend a lot of money on buildings. >> i think hybrid because i like to be home a little bit, but i don't like to be home all the time, and i think a lot of people feel that way. >> the younger generation needs the social skills of interactions with people, so maybe not remotely full time. >> hybrid type thing? >> hybrid type thing from home as well. >> i would hate to go back to the job every day. >> for the younger generation, do you think that companies need to take into account that remote options might need to be available or given to them? >> absolutely. absolutely. >> i think for my age, instead of being together as a team -- >> it should go by the business

standards. whatever the business company wants to do, then have them do it, you know? >> were there times when you were at home the past year and you maybe didn't work to the best of your ability 100%? >> definitely. [laughter] a lot of days, for sure. >> i would get distracted easily, playing video games. >> me personally, no, but i think people who work for me? yes. [laughter] >> might have taken a nap in the middle of the day? >> every day almost. [laughter] ♪♪ stuart: well, gunz, that's quite a report. i think a lot of people will be unwilling to make the commute all over again. >> exactly. yeah, that was one of the big things that we saw was that people were worried about the commuting, you know, whether it's 45 minutes to 90 minutes, they're like that time could be better spent working at home. what was interesting though was

the younger we went, the more they want remote options. the hybrid, it was almost like pulling teeth from some of the millennials and gen-zers, they really want to work remotely. but on the flip side, they did tell me they thought it was harder to advance their careers or get the recognition from their bosses via zoom or working remotely. they felt in order to advance and get a promotion, they'd have to go back to the office because they can't really prove everything they're doing from the home. but overall, it seems that the hybrid model -- which is what a lot of companies are going to be doing across the country -- that's the one that people wanted to do the most. stuart: entirely understandable. gunz, you're all right. thanks for being with us. see you again soon. we've got a big show in the next hour, steve hilton, kayleigh mcenany, kennedy and much more. and, yes, we are going to follow very closely what is a serious selloff on wall street. dow is down 500.

1.5%. and the big board, if you look at that dow 30, 29 of 'em are down, only 1 is up, and that's salesforce. can we quickly check bitcoin? that's coming down as well. we've got it back to the $36,000 level, that is bitcoin for you. we're going to follow it up for you. 36,6, right there. more "varney" after this. ♪ i'm in love and it's a sunny day. ♪ good day, sunshine. ♪ good day, sunshine. ♪ good day, sunshine ♪♪ that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. ..

good. see it. want it. ten-x it. yum! in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity

to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. our friends sold their policy to help pay for their medical bills and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned that we can sell all of our policy or keep part of it with no future payments, who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy.

don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. >> we talk about the fed is behind the curve. finally they are saying there is something to others intervention, it is that for the economy. >> the cost of opening up is not stall mode. >> facebook and google stand on their own and you see that less and a rising rate environment. >> not the beginning of a huge selloff. you have a pull back. they will call that down.

my target is 4400 on the s&p and i think we will get there by end. stuart: 11:00 eastern time. this is shaping up to be the worst week for the dow since october. dow is 33,200. it is a little better on the nasdaq, down 90 points. selloff across the board. the reason, inflation scare. james bullet, said governor, says we will have interest rate increases at the end of next year. inflation is more than we were expecting. that has turned the market south. strangely it turned the 10 year treasury yield to the downside, one.46%.

real volatility looking at the volatility index, early this morning it hit a mark of 20, the highest reading in a month but we have volatility. as for big tech, all of them at my last count except amazon on the downside. apple, facebook, microsoft down, amazon up a fraction. the financials, getting clobbered, down 2 or 3%. the downside move, selloff across the board. 50 offices in portland's rapid response team, crowd control cops, all of them redesigned this week, 50 members walked away after portland authorities charge an officer with assaulting a woman during one of portland's endless riots. this is what happens when local

authorities failed to support police officers trying to control civil disturbances. law enforcement has been systematically disrespected. they don't like it and are not going to take it. the police executive research operations says that in 2020 retirements went up 45% compared to 2019, resignations up 18%. the cities are reeling, trying to get people to come back to the office but they are not offering a safe commute or a safe city. it is a self-inflicted wound. in the frenzy of protests following george floyd's death the police could do nothing right. they were defunded, they were insulted in the streets and now cities face the consequences. one more reason for the exodus, one more reason to work from home. one more reason for big city decline. third hour of varney just getting started.

in california, believe it or not, today could reach 121 degrees in death valley. they have a heat wave and then some in california. the governor is asking people to conserve electricity. i think he established a state of emergency. steve hilton, our california guy, come in, please. is this climate change? >> climate change is the excuse they used to cover up for the total failure of the ridiculous stupid counterproductive energy policy. it is becoming an annual thing now. on a hot day in the summer in california who could have predicted that? you have announcements from local media saying please don't use electricity in the hours of

the day, don't turn your appliances off. like being in a third world country. the reason for this is they have used subsidy and regulation to push california towards dependence on unreliable sources of energy. for example in the summer afternoons half of the energy comes from solar power. on a hot day you think that is great but can't be stored. by the evening there is none left. what they have been doing is importing energy ludicrously from saudi arabia as they are closing oil production in california stamping out the mystic production in california, imported oil from saudi arabia, trying to import energy from other neighboring states. when the heat wave goes beyond california they don't have any either. on top of that they are planning to close down reliable sources of energy like the nuclear power station aaron. this is the result of their own policies and they tried to evade accountability by calling it climate change.

every day californians are subjected to this misery of do the ordinary people believe the governor? >> two answers to that, the truth is just as on the national level, on the state level and on the local level much of the media is controlled, by the progressive narrative, this message that it is climate change you are hearing across the board so people are hearing that. a lot don't dig into the facts but what you are seeing on this issue is rising tide of people who say we are fed up with these policies, last april to a head the way public schools are run in the shutdowns of the schools that went on forever when it wasn't the case and the rest of the country.

it means those of us still here fighting for the kind of policies you and i would support we've got to make our voices louder, that is happening and one day you will see the change. stuart: if you insist on staying in california i can't help you. i always offer a place in florida or new jersey or new york. you want to live with me? that is not tempting. we will be watching you on the next revolution sunday 9:00 pm eastern on fox news. thank you. i am going to put uber's stock price on screen, $49 a share. news about big worker labor fight. what is it? ashley: us district court judge in california now says uber can indeed challenge a lawsuit

claiming the company misclassified california drivers as independent contractors, arguing proposition 22 is retroactive, the ballot initiative that stated uber, lift and other drivers should remain independent contractors. the ballot was approved by voters and went into effect last december. a class-action suit claims uber drivers were wrongly classified as independent contractors. the judge walked back in early ruling and said yes, uber can make retroactive argument about labeling those drivers as independent contractors and goes on and on. stuart: in california of course it does. now to an intriguing story. atai life-sciences going public, they want to use psychedelics like lsd and magic

mushrooms to treatment will health disorders. the ceo and cofounder florian brand joins us now. welcome to the show, great to have you with us. i'm intrigued about using lsd and mushrooms to treat mental disorders and addiction. what are we talking about? people taking trips? >> thank you for having me. a great day for us, great moment. it is important to understand we are not in the recreational drug business. we are drug development company set out to develop more effective solutions for mental health patients suffering depression, addiction, anxiety and suffered for too long for too little innovation and it is affecting millions of people globally. stuart: so you are going to give people magic mushrooms, and take them on a trip. essentially that is what you do.

i take it that is under very controlled circumstances. >> we are not developing lsd. it takes too long to explain for this interview but we are developing psychedelics for medical use. developing for inpatient treatment called substance psychotherapy and we are in various stages of development and excited about the potential of these substances that were well researched in the 50s and 60s. stuart: is there hard evidence that using psychedelics whether it is mushrooms or whatever, is there hard evidence that it helps people with ptsd or some form of addiction? >> there have been studies out of academia, academic studies but more recently organization called maps published their

phase 3 data, showed larger sizes to mention ptsd for ptsd. there is a lot of evidence that points to therapeutic potential of this but it is important to say we are not a psychedelic company but a mental health company, exploring any sort of avenue in therapeutic and technology that can leap forward for patients. stuart: if i were to be talking to you five years from now you would expect psychedelics to be a significant part of the treatment for people with mental disorders, significant role? >> based on the data we see we are hopeful but we have to go to the clinical trials and produce data to convince regulators. we want to make these therapies reimbursable, to get every

stakeholder bot into these pieces and that is what we are setting up to do with clinical trials. stuart: thank you for being with us, remarkable company and we wish you well and would like to hear from you again. thank you, see you again soon. fascinating. now this. a father obliterates critical race theory at a school board meeting. we've got the sound for you and we are going to play it. you would like to see this. take a look at the markets, all 30 of the dow stocks on one screen, all of them are down. we've got a selloff and we are following it for you. dow is down 473 as we speak, more varney after this. ♪♪

obsession has many names. this is ours. the lexus is. all in on the sport sedan. lease the 2021 is 300 for $379 a month for 36 months. experience amazing at your lexus dealer. [typing sounds] [music fades in] [voice of female] my husband ben and i $379 a month for 36 months. 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”] among my patients i often see them have teeth sensitivity as well as gum issues. does it worry me? absolutely. sensodyne sensitivity and gum gives us a dual action effect that really takes care of both our teeth sensitivity as well as our gum issues. there's no question it's something that i would recommend. nobody builds 5g like verizon builds 5g. thousands of engineers taking peak performance to a new level. that's why in parts of many major cities where people can use massive capacity we added verizon 5g ultra wideband, the fastest 5g in the world. it isn't just a step forward, it's a leap forward. because the more you do with 5g, the more your network matters. it's us pushing us. it's verizon vs verizon. and who wins? you.

look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds.

stuart: that is a beautiful site. the white house, 77 degrees and sunny in the nation's capital. the markets, not so cynical down across the board. the nasdaq further south down 117. you have 170 point loss for the dow jones average. the big movers. >> morgan stanley, the large social media stocks, even if engagement does drop off, we vacation and the like. different channels of monetization and just talking virtual reality, selling ads on vr headsets.

the leadership on the nasdaq today, the pandemic winners, up 4.5% up to and 3 quarters of one%. stuart: on a big down day, let's look at the cryptos. we have news from goldman doing something with a bit coin with the trading strategy. ashley: they are dipping a bigger toe, and crypto merchant bank galaxy digital. the digital asset firm, they will resonate on wall street,

facing more pressure from clients to get some action in the bitcoin as, you can bet more banks will follow suit, to develop bitcoin, the credibility is starting to build. stuart: 36,000 the coin. the hosts of the view clash over president biden's outburst at a reporter. >> just because biden has gotten a pass, and no one's best interest to act like it is state tv. >> i never saw trump apologize to anybody and i will take it. >> he just embarrassed himself. >> i don't care that you don't care.

>> then good, you can be how you always are. we will be right back. >> how you always are. stuart: that went off the rails real fast. kayleigh mcenany joins us now. trump will never get a fair shake. >> megan made excellent points, the question had donald trump ever apologized for an interaction with a reporter, you know what the headlines would have been, admits that he is a misogynist, menacing man. even if he apologize he would not have won but what is going to me is the way cnn went on to praise biden. i just that i'm not taking question from an activist, cnn went haywire. it is a double standard. >> president biden lost his

cool, this got to him, a shouting question upset the man. they can't protect them from a shouting question and that is the way it is. >> they admitted, he doesn't thrive in it but it is incredible to me that to handle even one shouting question, donald trump, they were like hyenas, shouting at me, shouting at him as he goes to marines one and air force one, this was routine. a substantive question from caitlin collins, he snapped. >> going to the border on june 30th and tampa, florida, a

rally, then north carolina. it looks like he is running for something, doesn't it? >> he very well may. >> he sent a lightning rod through the base, lots of voters turnout simply because of him, and the seats to we need to retake the house and break the tie in the senate, he can do it and i'm certain he will, all the energy in 2022, leave that to him. stuart: you want to see the crowds turnout at those rallies, got to have tens of thousands of people were the media will say he is losing his grip, you need tens of thousands. >> they would do that if there were and throngs of folks turning out but i'm confident there will be. i talked to voters every day, they love the former president, they miss the former president and i am certain they will turn out for donald trump, his beloved in the state of florida.

stuart: how are you feeling now that you are out of the white house and all that confrontation with reporters, you doing okay? >> i love it. i get to be here and be your colleague, i always loved your show. i wish you were with me in studio. at one point when we can pass this, it is an honor to be here. fox is my home. stuart: come and see us. we will see you soon. we will be watching kaylee on outnumbered at 12 eastern on fox news. senator ted cruz wants matthew mcconaughey to stay out of the governor's race in texas. why? ashley: very good question.

senator ted cruz says mister all right all right all right is all wrong wrong wrong even though he can see that mcconaughey would make a strong candidate. listen to this. >> he would be formidable. he is a movie star and a good-looking charming affable movie star can be a really formidable candidate on the ballot and i hope that doesn't happen. ashley: mcconaughey has been floating the possibility of jumping into the governor's race in texas, throwing his hat in the political ring was a true consideration even though ted cruz says he shouldn't when he doesn't give a reason but concedes it is up to the actor to decide which it is indeed. apparently ted cruz says stay in the acting business. stuart: we will figure out why. we are saying in texas and this is your story.

space x legal trouble in texas. give me the story. ashley: authorities in cameron county, texas, accusing local space x staff of violating state law by prohibiting access to public roads. they claim space x's private security personnel have been closing a number of streets around the company's property, in one case space x is accused of renaming a street rocket road, potential taking of public property. county authorities say the actions are unacceptable and could constitute crimes in texas adding that while space x is a valued member of the community doesn't authorize them to disregard texas law. interesting. stuart: have they tried making and offering to their local charity? ashley: that may help them.

stuart: coming up, here's what we've got. we will talk to jeff sica who is back this is despite inflation fears he is still optimistic. look at caterpillar, top left-hand side of the screen, the only one of the dow 30 stocks which is in the green, the stuart: that is a bucket $2.10, more varney after this. ♪♪ ♪♪ born in the usa i was ♪♪ centrum multigummies aren't just great tasting... they're power-packed vitamins... that help unleash your energy. loaded with b vitamins... ...and other key essential nutrients... ...it's a tasty way to conquer your day. try centrum multi gummies. now with a new look.

now with a new look. all the time in the world. it's just a saying. but today, for women living with hr+, her2- metastatic breast cancer. more time is possible with verzenio. proven to help you live significantly longer when taken with fulvestrant. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start and antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs,

shortness of breath, chest pain and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. more time is possible. ask your doctor about verzenio.

stuart: almost 11:30 eastern, it is a selloff on the left-hand side of the screen. good to see you again. what is this about you being optimistic on the stock market. a big-time sell off of the inflation scare. why are you optimistic? >> i'm concerned about inspection, the avalanche of money created the strong likelihood the inflation is not transitory but is here to stay. as far as the stock market is

concerned. i'm not always optimistic. as far as the stock market is concerned, next quarter earnings will be a very good. the reason for that especially consumer product, all those areas that were greatly affected during the shutdown, this will lead to better earnings. the third is obviously very confused whether we have inflation and the market will be volatile, we will see more momentum going up. a massive amount of liquidity, that liquidity, finding its way into real estate.

stuart: you are optimistic as well, if you're optimistic a real estate you think home prices keep going up or commercial real estate, where's the optimism in real estate? >> a lot of concern that we are in a housing bubble and a lot of decrease in home prices as a result, the supply and demand in the last 25 years, we lost five units of housing. what we are going to do, increase in housing prices and with hard costs going up, less construction, less supply, more demand, the tangible asset, the real asset, people want something they can touch and

feel is going to move up especially optimistic about the apartment markets, the industrial market and we will see tremendous increases and some of this turbulence in the stock market, a lot of that money does come out and go towards paying down the debt and purchasing single-family homes. the real estate market is poised for the next leg up. stuart: you have been on the show for many many years and i always thought of you as a cautious kind of guy, who said it is a lovely rally but you are back with us and saying it is a bit of a selloff, i am optimistic for the long-term. welcome back. we will see if your optimism works out. appreciate you being here.

it is not just, it is the newest federal holiday, big tech. what are they doing? big-time employers given the day off. what is happening? ashley: the big tech companies are serving juneteenth in a variety of ways and some companies like twitter and square begin recognizing the holiday last year but google has instituted a no meeting today today and is encouraging employees to use the day for celebration, learning and reflection. facebook says it's workers must use one of their paid personal choice days if they want to celebrate the holiday while employees can participate in a day of discussion. apple recognizes juneteenth as a company holiday in the us, giving employees the day off while apple retailer applecare will support customers and a diversity manager at amazon says juneteenth is not just

about black history, it is american history and a complex one. amazon is sponsoring a celebration called juneteenth unity fest. stuart: i want to make a point, a few moments ago, minutes ago we were down 500 on the dow, now we are down 400. we have a slightly lower yield on the 10 year treasury. we are down one.46%. a lot of volatility in the market but coming back a little from a 500 point loss. next case, listen to this. ♪♪ over the ramparts we watched were so gallantly streaming ♪♪ and the rockets red glare ♪♪ the bombs bursting in air

♪♪ stuart: isn't that cool? thousands of hockey fans belting out the national anthem at the stanley cup playoff game in new york, 13,000 people were there to watch the islanders play the tampa bay lightning. that is a full capacity crowd singing their hearts out and i like that. by the way major league baseball relaxing covid protocols for players and staff who are fully vaccinated. the bullpen or clubhouses, plus they can now eat at restaurants and attend a sporting events at spectators. new survey the number one state to live in, give you a hint, it is not new york, it is not california. i know where that is. that is in the best state. you might be surprised at the answer. a father blast critical race theory at a school board meeting. role tape.

>> black people -- how do i get a degree if i am sitting here impressed? stuart: a lot more of that coming your way, a passionate speech and we've got it for you. one more look at the big board, down 400 points on the dow industrials, 29 of the 30 dow stocks are in the red. we will be back. ♪♪ ♪ ♪ with cutting-edge tech, world-class interiors, and peerless design...

their only competition is each other. the incomparable mercedes-benz suvs. extraordinary runs in the family. visit your local mercedes-benz dealer for exceptional financing offers on select suvs. discomfort back there? instead of using aloe, or baby wipes, or powders, try the cooling, soothing relief or preparation h. because your derriere deserves expert care. preparation h. get comfortable with it.

new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. stuart: they started trading, it has opened. it opened at $21 a share up from the offering price of $15 a share and done nicely. look at the dow 30, 29 of them are down, caterpillar is up

lose lauren is with us, check the big movers. >> looking a lot of these commodities, talking about inflation and worried about it and seeing it but if you look at many commodities like copper and stocks that go with that they are down today, copper's worst weeks and march of 2020, gold just turned high, the dollar in a 3-month high but we are seeing commodities did selloff in a big way, corn was down 7%, soybeans shaping up for their worst week since 2014 so that raises questions about inflation and what is going on with it and how transitory. stuart: that is the buzzword. how transitory is it? the fed says it will fade and go away, maybe it won't.

the dow is down 400 points, we have this for you. north carolina congressman greg murphy introduced a bill that would protect free speech on college campuses. it would require public and private colleges to report first amendment violations to the department of education, they would have to share campus policies on free speech and if you fail to do that, title 4 funding restricted. kennedy, you are on. greetings. can you legislate the restoration of free-speech on a college campus? >> it is a bad idea. what happens is if these sort of free-speech edicts come down from the right, then the left when they have more power will offer constraints. what you have to do realistically is uncoupled education from the government as much as possible.

and we are seeing these free-speech zones which is so problematic for the congressman and many universities and if you are not in a free-speech zone, everything has restricted speech. if there is a public university funded by the government, that is the case you need to make to a judge. stuart: let's change the subject and move to something very positive. i am sure the audience has seen a bit of it already. a dad giving an impassioned speech on critical race theory at a school board meeting. >> you don't deliberately teach kids, personally the way to the black people are all down, how do i get a degree if i'm

sitting here impressed, critical race theory, because of white folks. stuart: are you kidding me? where do you stand on critical race theory? >> i have kids in public school where this is taught. the propaganda they are hearing in terms of marxist theory, do as much as you can to undo it at home and it is more to teach kids how to think critically for themselves and have to see things other than race. my daughters and i have a lot of conversations about different things that could impact someone negatively. we talk about maybe you grew up in a home where someone had mental illness or was abusive or a parent who was a drug addict and all these things can

shape someone's self-esteem and i don't think critical race theory is the best way to tackle some of the race issues we have in this country. if you look at it it is rooted in marxism, redistribution along racial lines. stuart: the worst thing would be we get critical race. in our big cities and not every place else. that is no way to go but that may be where we end up. sorry i am out of time but we will be watching it. i've got to get to this. a new study reveals, ashley will tell us this, which state is the best in which to live. ashley: any doubt? it is new jersey of course.

a study by wallet hub compared the 50 states across 52 indicators of livability from housing costs to income growth to education rates to hospital quality. new jersey ranked low and affordability but got the highest safety score of any state, ranked high in education and health quality, new jersey governor phil murphy jumped all over this tweeting you know it, i know it, all 9 million of us who call this state home know it, new jersey is number one. massachusetts and new york rounded out the top 3 states. that is another story. at the other end of the ranking new mexico came in as the worst state to live in followed closely by alaska and louisiana. new jersey. stuart: don't get me started, almost at the end of the show. it is friday, don't do that.

retract that study. wait a minute. friday feedback is coming up. hold on a second. got to show you some kids. half an hour ago we were down 500 on the dow. now we are down 383. back with friday feedback after this. ♪♪ a product of mastery. get 0.9% apr financing on the 2021 es 350. experience amazing at your lexus dealer. municipal bonds don't usually get the media coverage get 0.9% apr financing on the 2021 es 350. the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh.

if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-763-2763. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763

stuart: coming to you with a shot of cleveland where it is rainy and 68 degrees. that is a special request of one of our viewers, he wanted it, you got it. come on in for friday feedback. from dq rice. good job with lauren returning, a breath of fresh air. she is absolutely but are you glad to be back? >> i am. the first week is in the book, we will see how next week goes

for everybody at home. thanks. stuart: that is a family, how can you leave them and come to work with people like that? don't know how you do that? >> i ask myself that question every day. you think i'm joking. stuart: this is from alex, i enjoy the banter between you and ashley. when did you first meet? it was about 11 years ago when we were just starting foxbusiness i ran into ashley in the core door and we were discussing how we were going to do a show and i said how would the reality and react to two british accents? we took it from there. we did okay, i think. ashley: it is 11 years later and we are still here so that is a good sign. stuart: i have not clapped eyes face-to-face on ashley and more than a year now. come back soon.

someone who calls herself cat mom 89 rights this. please stop using the reference dead cat bounce. surely with your fabulous and extensive vocabulary you can come up with something better than that. i cringe every time i hear it. do either of you have a cat so you can answer the question? >> here. do people really say dead cat bounce on the show? isn't that a buzzer word? we get booted off? ashley: used to be. stuart: we both the jargon, not that particular expression. >> i don't like it either. stuart: i won't use it. it is banned from "varney and company".

this is from bob trim. you have excellent guest commentators on your program, i especially like the cow guy, don't know if he's a good trader or not but he has good common sense to share with your viewers, he's referring to scott reality, a great guy, i will pass along that complement to him. this one. my mom, this is from sue, my mom, married, watches you all the time. today is her birthday and she is 102. happy birthday from me, happy birthday. >> it is her birthday, your birthday and paul mccartney's birthday. a beatles present for you. stuart: i share a birthday with ringo starr. i've got to get to the trivia question. the summer solstice is sunday june 20th. the official start of summer. how much daylight will the

northern hemisphere experience this day? answer coming up. online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. shingles? camera man: ye, 1 out of 3 people get shingles in their lifetime. well that leaves 2 out of 3 people who don't. i don't know anybody who's had it. your uncle had shingles. you mean that nasty red rash? and donna next door had it for weeks. yeah, but there's nothing you can do about it. camera man: actually, shingles can be prevented. shingles can be whaaaat? camera man: prevented. you can get vaccinated. baby, call the doctor. camera man: hey! you can also get it from your pharmacist! 50 years or older? get vaccinated for shingles now.

50 years or older? nobody builds 5g like verizon builds 5g. thousands of engineers taking business to a whole new level. employees are empowered. customers are engaged. near real time data for fast decision making. this is business at the speed of 5g. because the more businesses do with 5g, the more your network matters. it's us pushing us. it's verizon vs verizon.

hearing is important to living life to the fullest. that's why inside every miracle-ear store, you'll find better bedtime stories. you'll find a better life is in store at miracle-ear, when you experience the exclusive miracle-ear advantage. it starts with our free hearing assessment. plus innovative products that fit your needs and budget. with free service and adjustments for life. we're so confident we can improve your life, we're offering a 30-day risk-free trial. call 1-800-miracle today and experience the miracle-ear advantage for yourself. ♪ stuart: the summer solstice, sunday, june 20th, start of -- official start of summer. how much daylight will be in the northern hemisphere? the answer is, 15 hours and 22 minutes. that's the most sunlight we'll see for a year. that's because the sun reaches its highest and northernmost point in the sky. not always on the same day, next

year the solstice is june 21st. all right. i've got to tell you this, the market is way, way down. got that. earlier we told you that, yes, today is paul mccartney's birthday. any idea how old paul mccartney is today? you probably don't know, especially our younger viewers. i'll tell you this, he is 79 years of age today. goodness, me. david asman in for neil -- [laughter] david: doesn't it make you feel a little old? when you hear that paul mccartney's 79. i was thinking 78, and my best solstice ever was in st. petersburg during the white nights, nothing like it. strolling down beautiful st. petersburg at 1:00 in the morning with the sunlight still shining, unbelievable. stuart, have a great weekend, thank you very much. welcome to "cavuto coast to coast," i'm david asman in for neil cavuto. major news this hour, the market took a nose dive onhe