maria: the stocks will open at an all-time high and is up 10%. record revenue, second quarter earnings better-than-expected. the rest of the market turned negative, dow industrials down 55. "varney and company," kelly jane and mark, thanks very much, stu, take it away. stuart: not sure i like the shoes but that is another story, you know me and shoes, good morning, everyone. i just wonder is crypto investors are feeling nervous.

a nice balance yesterday fading, i wonder if stock market investors are getting nervous. nice bounce after monday's a lot but that is fading too. i know olympic officials are nervous. the games begin in a few hours and the director of the opening ceremony is been fired. i will start with this. kathy would, elon musk, they appeared virtually adequate so conference, musk said he might pump but won't dump. bitcoin let 32,$000 a share and in retreat. dropping below it, back to 2000. the cryptos are not fading as i thought they were, they are coming back pretty well. not so much raw nerves in crypto land. let's get to the stock market, a full recovery for monday's a lot but this morning a loss of

momentum. 419,000 new jobless claims, that's not good, that implies the economy is not growing as quickly as we like a the dow will open on the downside 50 points, s&p down a fraction, nasdaq up a fraction. mixed bag on wall street but we've lost momentum. the yield on the 10 year treasury is down to one.28%. that yield falling because of those jobless numbers was existed florida economic growth. a one hour we get the all-important numbers on home sales, by far the best real estate indicator. what we are looking for is any sign that the boom in home prices is fading. thursday july 20 second 2021, varney and company is about to begin. ♪♪ should i stay or should i go ♪♪ should i stay or should i go ♪♪ stuart: should i buy or should

i sell? lauren: we are one% from record high but it is a crazy market, we are scared about when they are not the next. i digress. stuart: very good input and good morning to you. a look at futures, where we stand with a few minutes before "the opening bell," dow on the dow, the s&p and the nasdaq. dr barton with us now. i got to tell you like we are saying with lauren we look at this, those jobless numbers suggest a slowing economic growth, the markets seem to have lost some momentum. are you worried? >> i'm not worried. there may come a time when inflation rears its ugly head or some other big externality comes to the markets but for right now, i think we are in the biggest narrative we've seen in a long time and that is

a money storm, so much money still to invest from the first 1:45,022 today, have risen $3 trillion, that is a 50% increase, just amazing. that money is being put to work all over the place. i think we have some sideways juggle coming but the next move will be up. stuart: you've been saying this for 10 years and been right. you have been right. after all this time you can understand how people get a little nervous because it can't go on forever and you are telling us that wall of money will keep everything fine and dandy, i admire your confidence. >> i do believe that. i'm positioning myself and all

the folks i do analysis for that way and here is the thing. when the narrative is so overwhelming we will get little blips and sideways movement like we might do right now but that wall of money you mentioned will win out in the intermediate term. who knows by the end of the year where we will be but i will be surprised if we don't make new all-time highs. stuart: you liked nvidia a lot. it went for a stock split and is back way up there. you think nvidia is going higher because that is your big stock? >> it is one i like because we went in march, we got to buy it and has the stock split up 65% and we have a 10% pull back and it is moving back up. they went 82% year over year

earnings quarter to quarter, last quarter to quarter in august, they will go up 11.3% in revenue. chip shortage, they are into everything not counting on crypto for much of the revenue, processes in crypto sales, i love it right here. stuart: on the screen, 880% in the last one year period. you have been right. thanks very much for being here. dealing with the stock market, show me bitcoin back above 32,$000 to. i really need you to go through what musk, dorsey and would have to say. lauren: elon musk said things that surprised people, i might tweet a lot about bitcoin and other currencies but i am all in.

>> bitcoin, bitcoin, the price of bitcoin goes down i lose money. might pump but don't do that. >> he also owns a cerium but found the $2,000 level, that was the resistance level. stuart: anyone who invests in cryptos wants to see the price move up from here, below 30,004 below 2000. lauren: if you want mainstream acceptance, a more stable price for two months.

stuart: georgia was the first state to fully reopen. on your screen now, their unemployment rate is two points lower than the national average, down 14 straight months. will kane joins us, infections rise again, anyone want to go back to restrictions of any kind in georgia? >> absolutely not. landmark diner outside atlanta, it is a non-event. people have moved on with their lives and have for the better part of the year, the first to go back to normal and they are back to normal. i love doing these diners, i love talking to people directly. what you talk about on tv i've said to you in the past remain in the realm of theory. when you talk to people you see how problems manifest in every day life.

the pandemic isn't in top three things people are dealing with. they are dealing with retaining employees. i hear that over and over small businesses how do i keep people on staff, i am understaffed despite an employment and the economy, i can't get people to work. inflation, you got to raise rates, raise wages and $50 an hour go to 25 and on and on until prices rise and finally quality-of-life. we are here because buckhead is looking to secede from atlanta because they feel their tax dollars are not being represented in dealing with a major spike in crime and this is what people are concerned about. stuart: president biden last night in scented the democrat party is not anti-police, that is germane to what people are saying in atlanta. role tape please. >> how do you respond to republicans who try to paint

you and your party is anti-police? >> lying. we have to change police conduct, rules where things are open, we have to have rules where people can determine what the background, how many times a cop has violated the rules. >> what about defunding the police? >> i never said defund the police. stuart: atlanta is seeing a rise in crime. what is the response from people in that diner to what the president has been saying? >> to leave atlanta to deal with the problem what are you supposed to do with that? somebody is saying they are lying what do you do? you are lying. he said he would absolutely, his words, shifting funding from the police. did he use the word defund? don't know. aoc is not afraid of that word.

they are clear about this. that was nonsensical as was his theory on inflation last night. if i spend more money we will have less inflation, reduced inflation. don't know what to tell you except that is a jumbled mess of nonsense you can do your best to ignore. stuart: we will take it, will kane, thank you for delivering it, great message from an atlanta diner. we will see you later. back to futures please. we are in a holding pattern with 15, 20 minutes to "the opening bell". we are down across the board with a slight gain for the nasdaq is the olympics just getting started. team usa taking in the and they lost. president biting -- president biden prepares to mask up during the school year. brian bromberg, teacher and parent joins us, i want to know what he has got to say about this next. ♪♪

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company trans place worth $2 billion, uber freight will acquire trans place, uber stock is down $47 a share. earlier this morning we had jobless claims numbers, lauren has been digging into the numbers. lauren: claims rose to 419,000 and that is part of the survey in the july jobs report, the analysts will tweet what they have to say. the increase is what hurting stock futures this morning but it is not expected that businesses will close because of the uptick in covid 19 cases that do they trim their costs, because of commodity pressures and input costs. it is interesting we've come this far in the pandemic, why aren't the claims falling fast enough? stuart: you have 9 million jobs

available, why do the number of new jobless claims go up? that is the conundrum. there is this too. new figures show 26 states which ended the extra $300 payments got up to 3 times more people to go back to work. we need a professor. brian brandenberger joins us now. that, these 26 states, that is obviously a success. why some democrats states keeping up and continuing these emergency payments. why are they doing that? >> their citizens should ask their governing authorities that question. why are we lagging behind, these states would have been smart and prudent and ended these unemployment benefits have seen their claims go down in their job gains go up. those economies are running away, gaining customers, people are moving their. do you want to be set in a state in this country that is

falling further and further behind? in the northeast -- stuart: they are buying votes. they are giving money away, saying vote for me. i'm a democrat, we will look after you. we don't care about the economic performance of the state so long as you vote for us. that is what it is all about. >> they are paying a hefty price for their state the will have less and less clout politically in this country less and less clout in the economy. if you have politicians running your state who can only think about the short-term, you need to change who is in that seat and that is becoming abundantly clear in this country. this data should be a wake-up call to the left that is getting abysmally wrong on policy now. stuart: as a parent and teacher i want your opinion on this. president biden wants

youngsters under 12 to wear masks in school. here's what he had to say, role tape. >> the cdc will say everyone over the -- under the age of 12 should probably be wearing a mask in school. if you are vaccinated you shouldn't wear a mask, if you aren't vaccinated, one child, not another child. stuart: do you think kids should be under 12, mask up in school? >> know. most of the parents i talk to in the midwest don't think so and it is not because they don't care about health but because they care about their kids learning and social well-being and understand something simple. it is important for young kids to see smiles and we know the vast majority of adults can get a vaccine. we don't need to put kids in

masks. we can help adults get the vaccines they need but parents are listening to what the president is saying and they are saying why the person we elected, why are you d furthering always to the unelected bureaucracy of the cdc, these are not just health questions, these are political questions, we want you to lead and leadership right now means giving people the individual responsibility in their communities to make decisions based on all the tools they have. vaccine, distancing, whatever it is, we have all sorts of tools we can use, give people the responsibly, that is really sustainable path the right now the president is talking about centralizing decision-making and parents are saying no more. not for my kids, no more. stuart: strong stuff this morning and it is only thursday. thanks for joining us, see you again soon.

futures still no clear trend, we are down on the dow, up a fraction on the s&p of the nasdaq, so no clear trend right there right now. take you to wall street for "the opening bell" after this. ♪♪ after midnight ♪♪ ♪ ♪ when technology is easier to use... ♪ barriers don't stand a chance. ♪ that's why we'll stop at nothing to deliver our technology as-a-service. ♪ limu emu... and doug. to deliver our technology so then i said to him, you oughta customize your car insurance with liberty mutual, so you only pay for what you need.

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stuart: check big tech on the upside but pay special attention to microsoft at the bottom of the chart, city hyped its target price for microsoft. they report next we can expect a rally of 30% in 12 months. city things like a soft goes to $378 a share. no further comment, 283. keep laughing. gary with us this morning, buying the dip worked again. >> quite amazing every time the market looks like it is about to get trashed the pixie dust shows up but let me be clear. for the last few months it has been a split tape and i expect

the same, and other tech, the dictate earnings to be pretty good. stuart: what about the biden sanders, $4 trillion plan, if it got anywhere near passage. >> somebody holding a plant together, $2 trillion a year of deficits and spend upwards of $6 trillion a year, the economy is not able to take that. the word socialism is used a

lot, big time, human infrastructure. it is just a comedy act, serious stuff gets through. stuart: doesn't look like it gets through but if any part of it got through, would that be a signal to sell the market? >> that is not the end of the world, 28.5, that is my big worry longer-term. every day towards interest, we cannot continue that trajectory, no one is around to stop it.

stuart: forgive me for going back to microsoft, $100 above where it is now. would you like to comment? >> microsoft are 18 months, the ceo did a magnificent job of the company, cloud business is skyrocketing, almost every time they report early warnings, the market reacts well to it. stuart: giving me good advice, i will stick with that advice, thank you very much. before the market opens, no real clear trend on the market at this moment.

a little backtracking here, on monday a huge selloff and then a return, a bounce back tuesday and wednesday so monday's losses have been erased and we go sideways basically. just wondering has the bounce back run out of steam and should we be nervous when it runs out of steam? we are up 0.15%. let's get serious. look at at&t, that stock is up,

huge company up one.5%. it is up in part because more people signed up for hbo and hbo max. >> 2.8 million new customers bringing the total to 47 million in the us and hbo max is just 1-year-old. they got really good programming. they have friends the reunion and it is great for shareholders. stuart: 2819 for at&t and doing well. we had some airline earnings including american. how are they doing? neil: stock was up substantially by 13%, much load narrower loss, $7 billion but this third-quarter guidance for

capacity and revenue to be 15% to 20% below for -- 2019 levels. that is what is weighing on the stock in addition to the solid run up. stuart: that is the call not so much the numbers but what they say when they call with the analyst and look to the future and bookings are not that great is what they say. lauren: europeans can't come to the united states, that is a huge deal and it will impact them. stuart: did southwest announced today? >> a domestic carrier adjusted lost $0.35 larger than expected, traffic stronger than 2019 and even better in july than in the month of june but that stock is down 3% as well. stuart: that projection didn't work. >> the industrial group, the best-performing sector this week 2%, to make the point they have come a long way.

stuart: here is the stock i'm interested in. blackstone group, private equity firm, gigantic private equity firm. records surge, the value of their investments they've made over the last year, blackstone at $109 a share, 3% up so far this morning. thank you. i follow closely. las vegas sands, that stock is down hurt by continued travel restrictions in macau and singapore, down sharply, 4.7%, las vegas sands. look at the dow winners, there are some. microsoft tops the list up for dollars, one.3%, salesforce, apple, verizon, united health round out the list. is in the winners, first energy, domino's pizza with a 5% gain, csx, railroad, union pacific all on the list of winners.

go to the nasdaq, top performer csx, they split from 800 to below 200, back up again this morning. the real winners on the nasdaq lists. here's another winner. they make those interesting looking shoes. record revenue, raised their full year guidance, strong demand around the globe, 11%. >> i don't wear that with stocks. >> so many wear them, they don't run as well. stuart: the smell of the plastic. stuart: i am going to get sued,

they own 5 pairs each. intel report after the closing bell. lauren: the check demand for intel 2, want to listen to anything the relatively new ceo says on the bid for global found berries because into would be making chips for other companies too. there are rumors the supply issues hit a been to intel and in particular the pc division, stock is not doing anything. stuart: tell me about snap. >> expecting 291 million. if they grow that advertising business too, revenue, 3.5 years. stuart: i'm trying hard not --

to wrap my arms around 291 million people. lauren: active daily users. stuart: what about twitter? lauren: the ad revenue is key by 50%. the year over year comparison, so many users sitting at home on their phones with the pandemic, that number is expected to grow but a smaller 10% as opposed to 20 plus% they saw in previous quarters. stuart: back to the cryptos. elon musk has always been concerned how much fossil fuel energy to mine cryptos. now is not so worried, tesla may start accepting bitcoin again for vehicle purchases. tesla on the upside, bitcoin back to 32,000 to 32,100 this morning. a slight downside move, a

quarter a 12:45%, 34-7 is your level. a more interesting indicator the yield on the 10 year treasury, one.28%. we have some discouraging unemployment news, slower economies and we would like, down goes the yield on the 10 year treasury, price of gold around $1,800 an ounce, the price of bitcoin, 32,100. oil, $70 per barrel. coming up the biden administration says it was just an error but they are facing serious backlash after promoting the abolitionist teaching network handbook, a far left teaching guide. we will tell you about the fallout. did you catch president biden make this admission about inflation? role tape. >> president biden: inflation will get out of hand, there's near-term inflation because everything is now trying to be picked back up. stuart: what about his massive spending plan?

isn't that why we are seeing this inflation at least in part? i will ask our laughter. art laugher. ♪♪ don't blame it on me ♪♪ don't blame it on me ♪♪ don't blame it on me ♪♪

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when you post your first job at indeed.com/promo >> president biden: the economy is picking up. the legitimate question to ask about inflation, the vast majority of the experts, including wall street, are suggesting that it is highly unlikely there will be long-term inflation that will get out of hand. there will be near-term inflation because everything is now trying to be picked back up. stuart: president biden warning

inflation is on the rise. here is art laffer. you are a professor. you know what you are talking about. here is what it looks like to me. if you go with this huge spending plan, that just keeps the inflation mills rolling. where am i going wrong? >> i don't think you are going wrong at all but what it really does, where i find spending is a problem is it disincentive isis people and production of employment. we have lost 8 million jobs because of the pandemic, the participation rate went from 61% to 58% and we will never get those jobs back if we keep paying people not to work. not only will we never catch up but the growth rate is going to be slowed down because of these stimulus packages, just the way it was under obama, they limit the growth rate, we can ill afford to lose all of that

production and then have lower growth rates and that drives me bonkers on these plans coming out of biden. inflation is also a very serious concern of mine although i am not sure it will come back. there's a point we are making that is a once up and back down again but the real thing is production and production is a killer, it is long-term and irreversible. stuart: talk to me about the stock market because stock prices are at near record levels. the dow in the nasdaq and the s&p. do you think they are overvalued? >> yes, substantially overvalued, stock price, gdp, at the highest level a have been in the entire postwar period, substantially higher than they were in 2008-2009 just before the crash, they are 30% higher as ratio of gdp and

that is very scary stuff. my view was given the policies of this administration and the high level of stock prices, the risks inherent in the market are on the downside, there is not a lot of upside left to go to be very serious, i think this is a scary situation. stuart: i you encouraging people like me coming in later life, in our 70s, to sell now? lock in the money you've made and sleep well at night? >> what i would encourage you to do, when you look at your portfolio and your stock and ask yourself the question if i didn't own these stocks what i buy them now? and if you wouldn't buy them now there's a good chance you should sell now. that is what i would encourage people to do. make sure you don't just sit through non-attentional wishes and hopes and prayers hoping they will go up. you should be very careful

analytically and look at buying and selling and from my standpoint, liquid as i could be personally. stuart: when you say liquid as i can be are you out of stocks? >> there are a lot of stocks i have to be in because i'm on the board of directors but i have stocks i can't sell that are part of my compensation and that is a substantial amount but the rest of it is i'm holding a lot of cash that i would normally in a good market put into the market right away. stuart: that is a solid answer and honest answer. >> i hope i am wrong. i hope the market keeps going. i am really concerned. i'm an older fellow too, you're just a young pup as far as i'm concerned. stuart: i will take that, thanks very much indeed, you

will be back, believe me. all right. the congressional budget office issued a warning on debt. i don't think it is a warning about my credit card. lauren: they are worried about treasury running out of money and they say could happen by november, the debt limit is not raised, what that does is force the us to default on debt limits. mitch mcconnell says he will oppose raising the debt ceiling, just pay for democrats free-for-all and that doesn't include the latest free for all, $3.5 trillion human infrastructure package. stuart: raise the debt ceiling or not, down to the wire, midnight, come up with a deal. lauren: the last time this happened the us lost our perfect credit rating, it was back in 2011 at the markets reacted big time. it might seem quiet in the

markets but pay attention next week. stuart: the obama team is curious about the downgrade in our sovereign -- as i recall. a boom in home prices is real and is a serious wealth creator. that means if you own a home you are in the money but can you hang on to your game? i have an answer to that question in my take which is coming up at the top of the next hour. not just people of tech companies fleeing high tax california. that was hollywood. a lot of films heading out the door to new mexico. jeff flock is there and he will file a report on hollywood, new mexico style. ♪♪ if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it.

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stuart: las vegas, the heat is building, over 100 degrees, take you to new mexico because albuquerque could become a new hollywood. some studios moving film production units there.

jeff flock is in albuquerque. why are studios choosing new mexico? >> it is close to la, and this is albuquerque studios but a big production hub. you know what that stands for, they are investing multiple billions of dollars, you escape california taxes, a former disney film executive and albuquerque native, the economic development director in new mexico and she presided over a tremendous growth in the film industry. listen to what she told us. >> outside money coming into the state. for netflix with two phases of

their deal, $2 billion that couldn't be here otherwise. it is 500 billion. they commit to being here. >> they are given tax incentives which some people criticize. you see what happened with the fox con thing, this can go south but already tremendous develop out here, they build all kinds of homes around this housing development and i leave you with an interesting one, local businesses have taken a huge positive on this. there is an old-time hat shop in albuquerque. we will be there in the cavuto hours. this man is stuart dunlop who his in making hats for a long time but is hollywood in town? his business is going through the roof, pardon the pun. you have heard of hollywood and bali would, they call this to

molly wood. not politically correct but that is what they call it. stuart: look at that. our whole varney team is taken up with that. nobody got hurt, but that is a picture of tara. it was a ride in wildwood, new jersey. you've been on that ride. >> 75 miles an hour. it is called the slingshot. stuart: would you go on it? >> the issue is the seagulls look so peaceful when looking at the shore but if you are eating on the beach that can happen to you. they can come and take your food. stuart: you are in albuquerque, new mexico but i am sure you saw that video. what do you think? >> reporter: this happened to jeff bezos when he was taking off in a rocket the other day, knocked the cowboy hat off.

when you are on these powerful rides, stuff happen. stuart: we believe it at that remarkable video. still ahead on this program, mitch rochelle, real estate guy breaking down new numbers on home sales which we will bring you any moment now. tennessee senator marsha blackburn on the explosion in covid cases among migrants crossing the southern border. oliver north is back, sandra smith, former athlete joins us commenting on the olympics. second hour of varney is next. ♪♪ ♪♪ as i observe investors balance risk and reward, i see one element securing portfolios, time after time.

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♪ stuart: good morning, everyone. 10:00 eastern. straight to your money please. we have the markets on the downside. dow industrials fractionally lower for the s&p. 35 point gain for the nasdaq. jobless claims came in higher than expected this morning, 419,000. that pushed the yield on the

10-year treasury down 1.62%. cryptos all of them in the green, back to 32 grand after new comment from elon musk. it is just after 10:00 eastern. we got the latest read on very important number for realtors. existing home sales. lauren. lauren: largest part of the housing market. 5.86 million units sold in june at seennal sy adjusted annual rate, up 1.6%. slight disappointment, selling homes at annual rate at 5.6 million? lauren: 5.86 million. stuart: seems like a good number. but not wildly strong. >> up from may where it was a .8 million. the issue there is not a lot of homes to sell. stuart: exactly. lauren: 30-year mortgage rate coming in from freddie mac. it fell again. yields are coming down in general because of the delta concerns and how they affect

economic growth but homeowners cannot take advantage of lower rates because they cannot find a home to buy. stuart: mortgage rates at 2.78 you say? interest rate is 2.78%. lauren: 15 year at 2.12. stuart: okay. all right, everybody. thank you, lauren. now this. the boom in home prices is a serious wealth creator. if you own a home, just about anywhere in america, you're in the money. you're equity stake has grown. two out of three americans own the home in which they live. so we're talking about about a lot of people sitting on a lot of money. obvious question, can you hang on to your real estate gains? my answer, a qualified yes, you can. qualified in the sense that some of the astronomical gains in the hottest markets will cool off. and some buyers may be turned off bidding wars in some places.

i can see a modest retreat in some places. but no crash. this is not 2007, 2008 when bottom fell out of the market. back then there was a huge oversupply of homes and a surge in homeowner bankruptcies. today the opposite. there is a chronic shortage of homes for sale just as remote work bring as surge in demand and there is no shortage of money. 100 million americans are getting payments from the government. 100 million americans made serious money in the stock market and in their 401(k)s. here is my bottom line. i think your money is safer in your house than it is in stocks. second hour of "varney" about to begin. ♪. stuart: and that gentleman on the right-hand side of the

screen mitch roschelle, our resident real estate guy. all right, good stuff. question, mitch, is my money safer in my house than it is in the stock market? >> 100%. in fact, i was applauding, you just didn't hear me during your open there i'm doing the same thing. i'm selling stocks and buying another home. because if you look at it over time, housing in the right areas has outperformed the stock market in terms of wealth preservation. one thing for your audience. i completely agree with what you said about a 30 year fix rate mortgage, for most americans the single great wealth accumulate tore over their lifetime is 30-year mortgage. you have a nest egg for your future. i'm very, very bullish on housing. stuart: you always do informal survey for us amongst your real estate colleagues. are they telling you that there

is any pullback in the astronomical price increases that we've seen in some markets? are they seeing any pullback there? >> i think what was happening, stuart, is, realtors trying to get listings would be very, very aggressive. sellers, somewhat ambivalent about selling, i will sell it if i can get x. what they're finding they couldn't get x. right now we're seeing a little bit of realism flashing across the market. we started to see listing prices actually come down. redfin reported 4% of listing prices were reduced. so i think what you saw also in the housing members that lauren read before, is the pace of sales is starting to slow a little bit. just because we're really, really tapping into the inventor here. i think that realtors are, and sellers are starting to get a little bit more realistic, which could be good for the market. stuart: a moment ago i said i

could see some price declines in some of the hottest markets, i said that, but no crash. i'm serious about that. i just don't see prices crashing in real estate. do you? >> no. i don't see prices crashing at all. you're right again, stu. the reason why, demand is outpacing supply. every time we had a crash it has been the other scenario where supply has been two or three-x the demand. it is the other way around. it will be that way for the foreseeable future. there is no way to get more supply on the market quick enough, especially with some of the headwinds with labor shortages and lumber prices and the like. so i think that housing prices may not appreciate at the pace they have been appreciating but they will certainly be stable. stuart: i want your comb meant on a strategy wealthy people are taking. they're borrowing against their stock holdings. so if they got, just for example, you got $10 million

worth of stock. you go to the stockbroker and say, all right, let me borrow money from you and use that $10 million worth of stock as my security. i'm not sure the technical word for it but i think a lot of wealthy people are doing that, am i right? >> yeah, they're doing it for the very simple reason that, let's say you bought microsoft, we'll use you as example a while ago. you have a big gain. you don't want to sell it because it may go up more, you don't want to pay taxes on the gain, it's a lot cheaper, that the rate that these brokerage firms are lower in many cases than mortgage rates. that is why many people are doing it. stuart: you don't have to go to a bank for a mortgage which a sheer nightmare these days. >> it's a nightmare. stuart: mitch roschelle, always good. thank you very much for being here. thank you much. >> anytime stuart. stuart: dow is down 100 points.

want to bring at that to your attention. president biden speaks to half empty town hall. the empty rows not showed on tv. shared from the white house press pool. joe concha, with me. the president is trying to show the pandemic is kind of over in a half empty town hall. what is your take on this? >> optics matter, right, stuart? words and deeds matter more. the shift from journalism to activism during this town hall was incredible to watch from cincinnati. for example, on the the filibuster here is what the moderator, don lemon said. quote, here is the thing you me, this is important for people who look like me. my grandmother would sit around what i was a kid, had a fifth grade education. i learned she couldn't read when i was doing my homework. tell me stories about people asking her to count number of jellybeans in the jar, so why is protect egg the filibuster is that more important than protecting voting rights

especially people who fought and died for that? does that sound like a speech? that is an absolute farce. he is supposed to be moderator, not blow up the bill fusser pac. during a interview i don't do opinion. i know the difference i do point of view. point of view is literally opinion. that was that last night, mr. president, why are you blowing up the filibuster. this isn't tim russert, that is for sure. stuart: i have to take the other side just for a second here. the president was not using a teleprompter for much of last night, if at all. he was on his feet, walking around. >> of course not. stuart: he was, ad-libbing a lot of the time. he seemed focused and lively. now i will give the man credit for that because some of his public performances have not been like that at all. >> that's true. i don't think he used teleprompter toward any press conference. he used note as lot, note cards. that is for sure. he was speaking better from

extemporaneous perspective last night. i thought only good questions coming out of the townhall came from audience members, he was cofounder, cofounder, owner of a cincinnati restaurant group called thunderdome, said how do you and the biden administration plan to incentivize those who haven't returned to work yet? hiring is our top priority right now, he went on to say quote. >> biden filibustered for minutes on end, you should be thanking me i gave you money to day in business. that was the last administration that were restaurants in trouble. it happened during the biden anyone administration. biden said quote, people are looking to make more money and par gain. i think your tourist and your business will be in a bind. that is none sense. staying home to work, getting checks that are not taxed by the way better than working your butt off. i worked at a restaurant,

friendly's. that was tough. the president didn't answer depressing questions on rising inflation. he said his spending bills will not h only reduce inflation. talked about rising crime. only a gun problem, not to do with the police morale at all-time low. border securing it, we have record number of migrants entering the country. we didn't get real answers. despite the optics, that is what we should concentrate on. president's words, more importantly the deeds to back up the words. stuart: thanks for watching that. that meant i don't have to. joe concha, you're all right. >> try to help. stuart: let me bring in lauren. there are some stocks, we're back to stocks, okay. prompter says rubber shoemaker. i thought they were plastic? lauren: i think they're rubber. stuart: are they? lauren: i don't know. could be both. stuart: why is the stock up 9%? lauren: we can't ignore a gain like that today because they had a terrific earnings report. record second quarter revenue.

doubling in the past year and they guided higher too as the economy reopens, people are going out and about. stuart: unilever. that is anglo dutch company, don't hear much about them. they're down 5%. lauren: you're hearing about them now. what they said in the earnings really scary if you're a consumer. significant cost increases for their dove soap, ben & jerry's ice cream. that will hurt the full-year profit margins. these price hikes will definitely press consumers and tolerance. stuart: i think you missed something. lauren: what? stuart: ben and jer riff's ice cream, ben & jerry's ice cream will not sell ice cream in parts of is railing. forget it. as far as i'm concerned i never ate ben & jerry's ice cream. i will ask my supermarket to remove it from the dairy counter. lauren: let me know what they say? because they make very good ice cream. getting politics involved in

what tastes good. stuart: it is unavoidable. don't boycott israel and expect me to buy your damn ice cream, thank you very much. parents at one school board meeting had enough with their children wearing masks. watch this. >> you're sitting here without masks and you want them to wear mask. >> do your job and take the masks off of our kids and stick to education. stuart: school board listen to those messages? we'll tell you. plus, this is becoming all too common in california. two men brazenly walking out of a local tj maxx carrying handfuls of stolen goods. we've got the story. surge of migrants on our southern border increasing exponentially yet president biden claims they're being processed faster than ever. >> we have the been able to move significantly to change the number -- there were thousands of people, in, in custody with the border patrol.

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♪ me and you, we're waiting for the dark ♪ ♪. stuart: biden's border crisis, well-said. look at this video. it is the from mexican side of our southern border showing dozens of migrants crossing the rio grande. there are reportedly thousands more waiting behind them. bill melugin took that video and he joins me now. you flew in a chopper patrolling

the river. you've been reporting spectacular video. what else did you see, bill? reporter: well, stuart, what we've been seeing all week long this is not slowing down. the administration can keep claiming they're making progress with their capacity but border patrol's numbers don't even reflect that, what we've been ng the td cin cly cly doestherther mt sther mig ahedo to to bthore gate. g g they'rthe eyinorg t fheg f too penenooalkalk int stoaken iakntak ody. happe h allllk l we wer giveniv ae-alone-gal thethethee dps dpsicrelicicooive tispveect i is ing inin iinn d iit pityityemar rkae. wiin ain a m off rihe utetetaf nrr of groups ille gally.lly.thth grande.randrandrd find dfioadsoads erewh terheyer give themselves . these were family units.

not runners. we saw four or five units just being in the area. there are piles of clothes left in the brush of certain areas where they cross the river. they get rid of wet clothes before they walk towards the united states. the pilots were telling us sometimes the folks will try to hide from them, cover their tracks. they will tape carpet to the bottom of their shoes so they don't leave any she prints or feet prints behind. look at pilots say what they are looking for up in the air. >> looking for the rafts, bodies crossing the water. on the river, we're looking for possible vehicles that are like off in the brush over here, that could be a load vehicle. reporter: take a look at this exclusive video, remarkable from the mexican side of the border. this is from the mexican city across from del rio where we are. this is where thousands of migrants wait to cross in the united states. they pull up in cars.

walk in a trail down to the river. sometimes they have their luggage with them. sometimes they have their families. sometimes they will discard some clothing. they will walk across the rio grande right into the united states. on that side of the border, there are i.d.s left all over the grounded. passports from countries, paperwork left all over the place. a remarkable look where they are coming from. they walk right into the border in the united states. those migrants are in communication once they come across into the u.s. a lot have cell phones. they let them know when they should cross, where they should cross. look at this heartwrenching photo. another sign of the border surge. a dad 3-year-old migrants found basically abandoned in the brush near eagle pass. texas state troopers were able to find them. they were separated from a group, lost in the brush for eight days. they were covered in bug bites. they were severely malnourished,

they confirmed the dad was the dad of that little girl. tragically could not find the mom that traveled with them. stuart: remarkable reporting. bill melugin. thank you very much indeed. we have this, president biden claims they're processing those migrants much faster. watch this. >> we have significantly increased number of officers who can hear cases whether or not you qualify under the law for being here as a refugee. that is, that is what we've done. we've been able to move significantly to change the number, there were thousands of people in, in custody with the border patrol. it is now cut by 90%. there, it is considerably down. stuart: senator marsha blackburn, republican from tennessee joins us now. senator, they're still coming across the border. it is still catch-and-release. we've got another problem here. a 900% surge increase in covid

cases amongst illegals. nothing is being done about this, is it? >> well, it appears that nothing is being done about this because the administration and president biden don't have their facts right. how could he say there is a 90% decrease at the border when indeed we are watching the highest numbers that we have had coming to the border and they're expecting more? stuart, predicting 2 million crossings this year? this is something that we need to be thinking about and, look what has happened since joe biden was sworn into office six months ago and how we have had this uptick, now, as you're looking at title 42 and that removal, what are you seeing? more covid cases. what is also happening, they are sending these migrants around

the country. you've got airplanes that are chartered, coming in, landing there in south texas. what are they doing? they're sending them to places like tennessee. so every town is a border town. every state is a border state. the concerns with covid, the delta variant, they're all there, concerns for the health of our border patrol, our law enforcement, health care workers in these communities, yes, all of these are rising concerns and rightfully so. stuart: senator, two of the democrats who fled texas returned to texas. some members of that group say they were blind-sided by the move. watch this for a second. roll tape. >> that was first i knew that he had left our group in washington. >> i was very surprised the person left in the cover of night, if you will. stuart: madam senator, is that

group falling apart? >> i think that group is probably having a reality check and they realize that sooner or later they have got to go home. sooner or later when they arrive back in the state, they will be arrested. they will be taken to the state capitol and they will be required to do their jobs that the people elected them to do. i know they don't want to cast a vote on this but if they disagree with that bill, stand up and make their disagreements known. stuart: in my personal opinion it is political theater. it is ending in ridicule. that is just me, senator, you know me. senator marsha blackburn, thanks for being with us today. >> good to be with you. stuart: the olympic games are not officially started but team usa is already taking a knee. we have the full story on that one for you. first one teacher going public with her fight against critical race theory. she is here with her story. right after this.

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down 70 for the dow, up 40 for the nasdaq. the 10-year treasury yield on the downside, moving to 1.26%. some disappointing unemployment numbers this morning. the economy not growing as quickly as perhaps we'd like. down goes the 10-year treasury yield. then there is this, our next guest is a middle school teacher. she went public with her fight against critical race theory, and as a result her entire class curriculum was taken away and replaced. ramona is the teacher. she joins me now. ramona, thanks for being with us. what did they replace your curriculum with? >> hey, stu. they replaced with a curriculum platform, a preloaded curriculum platform that basically excludes all of american, complete comprehensive american lens towards history and certainly there wasn't any vetted classic

literature included in this curriculum platform. along with this curriculum platform with projects, very scripted timeline to administer projects and the projects, no matter what we were teaching, what quarter, they seemed to be weighted, weighted very heavily on the narrative of oppressor versus the oppressed. stuart: america as a bad place, an oppressive place? was it white people as oppressors? was that mentioned specifically? >> yes. that's the unfortunate part about all of this, it is hard for me to say those words because i care about my students. i don't believe that we are, we have systemic racism. i see only caring teachers who are not racist at all and -- stuart: what is your choice now, ramona? what can you do now?

they took your curriculum away, replaced it with one you don't approve of or i don't either, so now what? what are you teaching and are you still teaching? >> we're going to be teaching the same curriculum, with the same projects, with slight variation. i'm simply refusing to teach lies. i will not do it. i want them to bring back proper classic literature, rigorous literature, not force educators to propagate lies, basically. this is dangerous. stuart: how do you think it is going to go, ramona? >> i don't really know but this is what i do know. i simply refuse to participate in pushing their political ideology to minors. it is child abuse. quite frankly, somebody has to intervene and it needs to end because currently our children are being weaponized and they're

being indoctrinated. that is not okay. that is child abuse and it needs to end. stuart: ramona, thank you very much for being with us this morning. we wish you the very best of luck as you continue your endeavors as a teacher in provincetown, rhode island. providence road eyed land. we hope to see you again. a school board meeting in virginia got heated over the school's mask policy. ashley webster, good morning to you, what happened at the school board meeting. take us through it. ashley: it got heated all right, the board meeting came ahead after vote of students attending virginia beach public schools will be required to wear face masks next school year. the upset parents gave the board an earful why their parents should not have to wear a mask in school. take a listen. >> you're all hypocrites. you're sitting here without masks and want our kids masked. >> we have access to the vaccine. let our children resume normal

lives. see children and classmates faces. for our children to stop living in fear. >> it is not a difficult recipe. that is what your job is. do your job and take the masks off of our kids and stick to education. ashley: take the masks off of our kids. there was anti-mask rally held before the meeting got underway. apparently the board got the message, stu, voted against 6-4 against the mandate, deciding masks will be optional. call that a win ash. that is a definite win. you were following president biden last night he revealed his stance on masks for kids in schools. he is for masks as i understand it, isn't he? ashley: apparently so. at that town hall meeting in cincinnati, biden responded to a question about school safety, vaccinations and masks from a concerned parent. here is his response, listen. >> the cdc will say everyone,

over the age, under the age of 12 should probably be wearing a mask in school. those over the age of 12, if you're vaccinated, you shouldn't wear a mask, if you aren't vaccinated you should be wearing a mask. ashley: well there you have it. biden added children under the age of children would be able to get vaccinated soon. the cdc recommendations by the way are not binding. school mask requirements will be decided on a district by district basis. today some have adopted some stringent requirements while others have no requirements at all. stuart: here is my bet. democrat state, put those masks on. republican states, take them off. that is the way i see it. thanks, ash. more from you in a second. coming up two men brazenly walking out of a california tj maxx with handfuls of stolen stuff. we'll tell you what happened next. plus, one person's trash is

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♪. stuart: yeah, feel like jump right in. kind of nice, isn't it? you have cape coral, florida. sunny day. it will get to 91 degrees a little later on today. florida. now this, my next guest buys old furniture, refurbishes it, resells it, and she says 2020, the year of the pandemic was her best year ever. amanda fisk is the owner of

mama's happy. she joins me now. amanda, you got to tell us why was 2020 the year of the pandemic, such a great year for you? >> it is still hard for me to believe that. when people ask that, they are usually stunned at my answer. they're hoping we survived it. we're hoping we stayed open. when i tell them we had the best year we have ever had, they are simply stunned. stuart: how did you do it? did you start some delivery service, something like that? >> we started several different things. so as soon as we had to close our doors, i had a moment of panic. then i thought okay, i have a lot of women depending on this income and we need to figure this out. we started selling chalk paint online. we have people ordering it to have it delivered. people order having it differed cush bide because they were working on their homes. they warranted furniture. could they set up appoint point to search privately. so we did that. stuart: there is shortage of

furniture for immediate delivery. i'm guessing 2021, this year is doing well for you as well, right? >> i have to say we are currently trending ahead of 2020 which is again so hard to believe. we're thankful people get rid of old furniture that is dated, because it keeps our inventory supply going. we're having a strong year this year. stuart: you're in a unique position to give us a feeling, a handle, how. spending power consumers have. we've been saying there is a lot of money out there. america is flush s that your experience? >> that is definitely my experience. the other thing i really saw a difference in, people shifting, caring about supporting the local businesses. they saw for the first time how vulnerable many of us were during that time. they made a point of supporting local and small business. good for us. stuart: amanda, we love success stories. you are a success story. thanks for being here today. we wish you the best of luck.

okay. >> thank you for having me. stuart: sure thing. new data proves states that ended the extra unemployment checks are recovering much faster than states that kept them. ashley, come on back in again. how many states are we talking about here doing better? ashley: well the stats tell the story, stu. according to the latest labor numbers, 20 out of 26 states that ended benefits early, guess what? their unemployment rates are well below the national average of 5.9%. economists say there is another correlation when it comes to minimum wage. workers who live in states have a minimum wage of 7.25 are far less inclined to look for work, especially when you can earn a lot more by staying at home. here is economist anthony chan. listen. >> right now the differential in areas where that minimum wage is very low, to basically go back to work and lose a 300-dollar incentive is much greater than

it is in another state like california. ashley: exactly. so among the states that by the way end the federal benefit early, here are ones that jobless rates have well below the national average. nebuchadnezzer, the low lest 2 1/2, utah, south dakota, idaho ad 3%. that benefit is ending labor day. workers are anti-ing up to attract workers. mcdonald's franchiseeses offering tuition and child care benefits to get workers. hotel in new york giving senior staffers a 1300-dollar fitness machine and plus a monthly subscription. in lake county, california, lawmakers are considering hiring bonuses as much as $10,000 for non-entry level law enforcement positions. job shortage goes on, stu. stuart: great time to be a worker in america. and it looks to me, ash, like it is a great time to be a shoplifter in california.

you have seen the video. shoplifters at a tj maxx in l.a. leave the story carrying a heap of goods. nobody stopped them. give me the story. ashley: it is so disgusting to watch. they're not even running out of door which we've seen, they're strolling out the door. employees at tj maxx not confronting shoplifters, just sitting by. we understand that may indeed the policy. they don't want the confrontation. police are blaming a reverend -- referendum that lowered sentences on crimes like shoplifters. one officer said they give the equivalent of a traffic ticket. why criminals feel emboldened. same story in san francisco where businesses and security officials say shoplift something simply out of control. terrible. of. stuart: no wonder the governor is up for recall. ashley, thank you. we told you about the department of education's handbook for school reopening. it included a link to a radical activist group which wants to

send white teachers to anti-racist therapy. well the biden administration is now backtracking calling that an error. mike emanuel joins us from washington. are republicans buying this error story? reporter: absolutely not. texas senator ted cruz told me alarmed what he read by the guidance provided by the department of education. >> the document the biden administration sent to schools across this country talks aabout the need to disrupt whiteness and other forms of oppression. so where did this document come? something from joe biden, if you're white, whiteness is a form of oppression. reporter: spokesperson for the department of education told fox, quote, the department does not endorse the recommendations of this group, nor do they reflect our policy positions t was an error in a lengthy document to include the citation. louisiana republican senator john kennedy told me this had to be approved at a high level.

>> most bureaucrats are very risk-averse. they want to keep their jobs. they may have their own agenda but they keep their heads down in prosecuting that agenda. there is no way, no way under god's green that's right the people at the department would allow this to happen without an okay from the white house. reporter: fifth grade teacher from seattle, jeremiah henderson is defending the abolitionist network on twitter. it is a incredible organization credited to abolishing spaces that don't serve our students of color but better schools for all. a former teacher serving as a republican in congress, blasted the group. >> talk about misguiding guidance. schools need information how they safely reopen to covid. not try to be pushed into going down the poisonous road of critical race theory.

makes no sense. reporter: impact of the social and emotional learning guidance is not yet clear. stu? stuart: mike emanuel, thank you very much. one of the stories we keep covering organizations trying to get people going back to work. chipotle is finding a new way to recruit employees. they're using tiktok. i have chipotle's chief financial officer on the show. is that methodology working? he is here in the next hour. first the fight for freedom in cuba coming to miami. protesters plead with the administration to do more. oliver north is going to sound off on that next. ♪

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they want president biden to help the cuban people break with communism. oliver north it with us. ollie, it is great to see you. it has been a long time. we're very happy to have you back on the show. here is my obvious question. do you think that president biden will get involved in ending communism in cuba? >> well he should, whether he does or not i can't tell because i'm not a prophet but i will tell you this, the cuban people are standing up for the first time in 62 years. they're shouting out things like, we're not afraid. what we ought to be doing is broadcasting an extra powerful message on radio marty instead of diminishing it but increase it. this administration can do it, stuart. call on the tech giants, back them all the way into the white house, that are censoring those of us who are conservatives using some of their media. we ought to call, call a summit. call it what it is. an opportunity to have the

people in cuba hear a message of freedom, support for freedom. we don't have to start dropping bombs. what we ought to be doing is making sure that their propaganda isn't affecting things in the united states like some of the far left have here in this country. cuban people deserve to be supported. they're not protesting in front of the american embassy. they're protesting the cuban government. these young people are now saying we understand the big lie told us to all along. we want freedom. stuart: libertad, freedom. that is what they're calling for. you got a book out. we didn't fight for socialism. america's veterans speak up. you talk about in the book about president biden and his socialist agenda. tell me do you think president biden is a socialist in the conventional sense of the word? >> i think he has done very best to cover up the fact he is a very far left president.

probably the fartherrest left in my lifetime. i was born when franklin roosevelt was president for god's sakes. this tells the tale most common response of thousands of veterans that i interviewed and david as well, thousands of them are saying we're heading for socialism. they see the last november election there is a cross roads. one path for revival of our founder's vision of a country where individual liberty and self-determination and personal responsibility and the dignity of work and equal opportunity would flourish. the other path led to socialism. so the last election is taking us, divided the country, literally in half because free everything to everyone, college education, food, housing health care, the green electricity and eventually tyranny, corruption and all of that is part of socialism. i'm concerned, stuart, from my perspective as a grandfather of 18. this book offers a solution to the problem of creeping

seeingism advocated in our schooling system and by this white house. stuart: got it. >> i people keep saying this president needs to be replaced. i would remind everybody, that the vice president is even further. president's just don't resign, get replaced by a vice president. think about what you got before you ask for change. stuart: point well-taken, oliver north. we didn't fight for socialism. america's veterans speak up. great book. thanks for being here, ollie. >> semper fi, brother. stuart: we have another big hour coming up. sandra smith. colorado congressman ken buck. the real "wolf of wall street," jordan belfort, the chief financial officer of chipotle. we'll be back with all of that next hour coming up. ♪ entire line of vehicles at the lexus golden opportunity sales event.

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>> we have lost 8 million jobs because of the pandemic. participation rate from 60% down to 68% and we will never get those jobs back if we keep doing these spending plans to keep paying people not to work. do you want to be stuck in a state in this country that is falling further behind by the day? that is the situation in some of these states like the northeast.

this data should be a wake-up call to the left that is getting abysmally wrong on policy. >> $28.5 trillion of debt and nobody seems to care and that is my big worry. >> the biggest narrative we have seen in a long time and that is a money storm. stuart: 11:0 one eastern time, thursday july 2, '02, no clear pattern for stock trading so far. dow industrials ever so slightly lower. modest gain for the s&p and nasdaq. what you are seeing is the market has rebounded very successfully from monday's selloff but the rebound has run

out of steam, the market stalled at these levels. look at the 10 year treasury yield down to one.25% because we have some disappointing unemployment numbers which suggest the economy is not growing fast. but bitcoin and all the other cryptos on the upside after comments by elon musk, he might pump but he will not dump, bitcoin to 32,200. look at microsoft. a thin sliver of it doing well today. city has that stock going to $378 a share. that would be up 100 bucks from where it is now. a nice game today up 482. blackstone another stock which i have a thin sliver of it. it is up 3.6%. the investments this giant company has made have done very well and stocks at a new high, $109 a share. now this.

it is midnight in tokyo. in a few hours we will see the opening ceremony for the olympics but the creative director for that ceremony will not be there. he was fired for making a holocaust joke 30 years ago, fired immediately. he is gone. that is the difficulty front olympics plagued with problems. i hope american athletes don't add to those problems. if any of our guys engage in public political protests they will embarrass their fellow athletes and our country. please don't turn your back on the flag, please don't hold up anti-american signs. i'm tired of elite athletes exploiting their position. this is not suppression a free-speech, not suppression of anyone's rights. it is a request to show some respect for your fellow athletes, most do not share your views but will be tarred with your brush, respect your country, and respect for japanese officials who have

done their best to keep games alive. i have an admission to make, beating women soccer team 3-0 my first thought was relief because with that defeat, less likely to get to the podium and therefore less likely to make an anti-trump or anti-american statement. that's how strongly i feel about this. i want to know how you feel. let us know please, send your comments to varneyviewers@foxbusiness.com and we will include them in our friday feedback segment toward the end of the show. fox anchor sandra smith is a former athlete who ran for lsu, she's going to be here, just walking to the studio. walk across my shot. it is the cardinal sin.

get your microphone on. have your entire contingent to make you look good. don't put her on camera yet. >> they are back. stuart: take me up on that. >> i am here. >> here we are. that have a guy. stuart: i tell you what. i just said very clearly i don't want our athletes to embarrass other american athletes or our country or japanese officials. don't want to see them turn their back on the american flag, don't want political demonstrations and yet i did feel some relief when our soccer team won. i'm not cheering for the opposition but with that defeat, megan won't get on the podium so she can't disgrace us all. how do you feel about that? >> focus on the positive. how many olympians representing this country are doing great

things, heroes for young kids, they've shed blood, sweat and tears to live out their lifelong dreams. i know you asked for pictures of my time at lsu, i suffered those blood, sweat, and tears. i know what it takes to compete at that level. the other picture we have for you because i know you love this is me and my track team at lsu, olympia low load jump, you remember when she tripped on the hurdle. these people poured their lives into their sport and they represent our country and represent our country well. she will join me on the show and i really fear there is a focus on the negative when there are so many stellar athletes out there. i had two olympian female sailors on the show a couple weeks before they headed to tokyo and it was amazing to hear their stories. stuart: they are wonderful but how are they going to feel that they are on the podium and some

anti-american athlete stand up the political demonstration. >> we hope -- i talked to them about this, shed light on the positive and the fact that these athletes poured so much into it. i agree with you it is horrible. nobody should disrespect our flag, makes me sad to the core but i feel there's such a focus on the negative and so many athletes that deserve our positive attention. stuart: i will let you -- of course it is okay but i don't want anyone to think i am suppressing somebody's rights or freedom of speech, just "cavuto coast to coast" asking if they respect their position. respect of athletes, respect our country.

>> amen. stuart: i don't know. the script on the prompter. >> may be inflation. talking about all the spending. stuart: you really want to talk. >> can i get this out there? it is amazing what is happening from a small business standpoint in this country, the townhall, don't know if you saw it, to a small audience, there was a question from an entrepreneur, a restaurant tour with many restaurants, he asked president biden what am i going to do about getting people to work in my restaurant? rather than addressing a single policy that made it hard to get people to work at your company or your restaurant president biden's answer to the restaurant or was pay them more. that the fact the legislation, they weren't able to raise the federal minimum wage but here you have it, they can't get anybody to come to work in the restaurants, they are going to have to pay more. barely making any money. >> the president is buying votes. the new entitlement program, child tax credit, active paid in cash to 40 million families,

that is buying votes and it is probably going to be successful because when you check trillions of dollars out there, they are flush with the money, they vote for the politician who keeps the money flowing. >> no fed change, pumping money into the system, inflation is a concern for 2022 and you have seen that democrats are growing more worried about it. stuart: glad you rushed into the studio. >> i don't know what our second topic was. stuart: you should hear what producers are saying. the second topic was the topic you moved me to. >> it was indeed. stuart: thank you. >> i love your team. stuart: watch sandra smith and john roberts 1:00 to 3:00 pm eastern on fox news. let's get to the markets.

heatherga. talk to me about volatility. is that the new norm and how do i play it? i have a load of people holding onto stocks, holding onto big gains, they don't know what to do. how do you play volatility. >> volatility is the new norm for the foreseeable future for the rest of 2021. look on monday, and back in the blink of an eye and i am thinking was that the bottom? it is weird talking about the market in terms of one day moves but that is the world we live in. things will remain very volatile i think. stuart: should i sell any of the stock holdings? i keep bringing this up but i am in my 70s. i don't know what my life is. i don't want to get morbid

about this but i don't want to be fully invested in the stock market just as i might retire and suddenly see the market descend rapidly leaving me high and dry without enough money for my retirement. you can understand where i am coming from that i might want to sell some of my stuff and sleep well at night holding onto the profit. you see where i'm coming from? >> nobody ever lost sleep taking gains in the stock market. don't know if you still have your stock that you had for 50 years but look. i don't think it is a bad thing to take profits over 10%, the underlying stocks in the s&p 500 pay the bank's for example, some are down 10% to 20% for the highs even though the broader market is close to all-time highs. what does that mean? it is a traitor's market. since you have a full-time job and not at home daytrading you don't have the ability to do that. you have some cash on the

sidelines to take advantage of every single different. the mentality works until it is proven wrong and at the same time you take some of your profits, shift out of one sector like tech and those stay-at-home stocks for when we go back to work place, get past the delta variant and things like financials for example. stuart: i might take your advice. depending on my life expectancy. stuart: thank you for being here, appreciate it. look who is. susan lee following what? >> you are going to live for a long time but didi is having problems in china, china's uber. that is because china's assault on china tech, forced

delisting, better outcomes, a billion-dollar fine, it is only money at the end, they went ahead despite concerns over data sharing. intel, twitter and snap, those are the highlights, helping twitter and snap, intel might be tough with where chip competition, and high-tech growth, the stimulus punch bowl will be for some time and less chances of tapering and they will be here for some time. not just city but cowan calling $310 stock as well. stuart: city is 378, cowan is 310. >> i'm sure you will. stuart: i will. thanks very much. chip only had a record high,

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relief funds being used for teacher bonuses. some parent speaking out about this. hillary vaughan on capitol hill with the story. why our parents opposed to giving more money, bonuses, to teachers? >> the reason these bonuses are getting blowback is not because the teachers don't deserve them but because the reason democrats gave when they wanted 122 billions in taxpayer to schools in the american rescue plan is they said it was a life or death situation, they need the money to update ventilation systems in schools, provide testing, ppe for kids and teachers, extra sanitation, smaller class size for social distancing. all of this was necessary to make sure kids and teachers could go back to school safely. a walk down memory lane to remind you how democrats have the price tag when pitching the american rescue plan.

>> i hope we will have a strong vote in favor of crushing the virus, money in the pockets, people back to work and children children children safely in school. >> looking to public schools across the country that many of them need funding, many need ppe and many need testing. >> the american rescue plan the president and congress pushed and passed provides funds so we make sure our schools are safer. >> reporter: several school district in states like tennessee, texas, california, colorado in georgia are trying to use that money to hand out extra cash, georgia decided to send $1,000 bonuses to 230,000 school employees, not just teachers but aides, custodians, cafeteria workers, that tops $230 million, that is 35% of what they got from the federal government to give to schools, that is a big chunk of your taxpayer money going into the pockets of teachers when they were told it was going into the schools.

stuart: that is what has gotten them upset. very interesting story, thanks very much. staying on capitol hill let's bring in congressman 10 bucks, no stranger to this program. i understand you just started a new freedom from big tech caucus, anti-big tech group in congress. what is the goal? >> to support the antitrust bills that are moving through congress to make sure these four big tech companies, apple, amazon, facebook, google, are not allowed to crush competition, the we encourage competition at the same time, reduce competition with conservatives. stuart: does that mean break them up? you break up the amazon and googles of this world? >> i don't see breaking up companies. that is a top-down solution. i have to competition from the

bottom up, bypassing these bills we are able to level the playing field and allow competitors to compete in the marketplace with these companies. stuart: would it be difficult to compete with facebook, with 2 or 3 billion users. would it be difficult to compete with amazon which has 45% of the online selling business. you are talking gigantic companies which at the moment don't have that much competition. i am a little worried, can you get any competition for companies that size? >> if you look at walmart.com it doesn't compete on the platform with amazon but it does have revenues in brick and mortar operation, it could use

to enhance its platform if it saw a business opportunity, by taking these measures with amazon we encourage walmart.coms to move forward on their platform and be true competitors. stuart: a lot of our viewers in your constituents make a lot of money out of investing in big tech stocks. you think you might lower the stock prices and hurt our viewers in your constituents? >> know i don't. we will see more vibrant marketplace, competition, if these companies do end up breaking up in some form, there are instances in the past where the sum of the parts were worth more than the whole so i am not sure what the answer is going to be but i do know it will be better for america. stuart: thanks for joining us, appreciate it always. different subject but aligns, the hosts overview calling for

a change to how we sign up for social media. what do they want people to do? >> they want people to provide valid id in order to sign up for a social media account. stuart: >> people always talking about id necessary for all sorts of things, then id certainly should be necessary, verified id before you start a social media account, the reason people are trolling like this is there are little to no consequences because of their anonymity. >> a lot of misinformation is being spread on social media and no id check shields people so you can't track them down figure out who they are and allows trolls, you know what trolls are, they make toxic comments online, can shield themselves as well. see what fake account being set up, do you want someone to set up a fake stuart varney account and start tweeting? stuart: i think somebody did.

i don't want that. a firm secure id established as you open the account would go a long way. coming from the view surprise, a good idea. >> all in agreement too. stuart: what is happening to us? this one too. protesters demand freedom for cuba outside fox news townhall. >> the only thing we need is freedom. stuart: wall street journal guy dan heninger will share his views and thoughts on the cuban resistance. i pump but don't dump when it comes to jordan belfour, the rulebook wall street went to prison for pumping and dumping and we've got them on the show next. . ♪♪

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a little activity, 84 degrees, at&t reported their earnings early this morning and i believe hbo and hbo max gave them a nice boost. >> subscribers in the second quarter bringing the total us subscriber number to 47 million, 68 million globally if you want to look at the rest of the world and those numbers even surpassed at&t's forecast, two factors at play, at the same time, also introduced a cheaper tear at 999 a month, that makes it more affordable for more people to sign up. 67 million, let me ask you this, disney plus is at 100 million, that has been in operation 18 months and we know netflix, a lot of subscribers in the us and canada, 207 million, double at&t and hbo

max is doing. my point is at some point you wonder if netflix -- making those gains. stuart: how many streaming services will we settle on in the long run? >> who is gaining on the competition, taking away the eyeballs and the subscribers? stuart: who is at the moment? >> i was impressed by the hbo max numbers, some people said was too expensive, too many players, not enough content. this is a real rival. stuart: off and running, at&t, thanks. look at the cryptos please. elon musk said this about them. role tape. >> the price of bitcoin goes down i lose money. i might pump but i don't dump.

i definitely do not believe in high selling or anything like that. stuart: i might pump but i won't dump. that was elon musk. here is jordan bellfort who went to prison for a former pump and dump scheme way back when. what do you think of elon musk's comments about i might pump but i won't dump? >> didn't he sells some bitcoin at the top and get a big profit? stuart: did he? >> he did not. tesla still holding himself. >> they have a profit of $110 million. >> a small portion, $1.5 billion, very small sliver. >> 400 plus but i like elon musk and i think he's rich

enough to make an extra $2. he might not be pumping and dumping, people use his endorsement and they pump and dump around the high-tech elon creates. he might be not be doing it but others, dogease of the coin, there is a time every influence are out there like the doge army dumped, he might not. probably inadvertently used in that way. stuart: bearing in mind that the crypto market is susceptible to each new headline coming from a celebrity or billionaire or whatever, bearing that in mind are you in the crypto market yourself? >> i am in it for the long term. i have positions in bitcoin and

ethereum, i want to at least have some but wouldn't put in more than i could afford to lose and cryptos, really good investments, a lot of coins out there design to be really careful. stuart: okay so what do you think the market stand that the moment. it has been pretty static for bitcoin around 30, 31, 32, right at that level. i've been there a couple months from a technical point of view. you guys who own it wouldn't want to see a drop-down below 30,000 again and stay there because that would be a bad technical sign. >> i hope it drops lower because i would find more. i would love it to go lower because i'm a long-term investor so i don't care if it goes up or down. to go back to 5000 and that would be a great point so i'm

not looking for that. people trading bitcoin for short-term is very volatile and anyone who said they know it is lying, no one knows where it is going next. elon musk, things happen in china, other parts of the world still until a find it and once regulation and the sovereign risk, what is going to happen? the atmosphere is much more systematic. who knows what the us is going to pass with regulation, and have that. it is far along, a lot better than not that it stays with us and they don't try to regulate out of business but so much uncertainty holding it down right now. stuart: jordan bellfort is a true believer in cryptos. thanks for joining us,

appreciate it. we have a related story, more billionaires getting into bitcoin. >> jordan bellfort record the same sentiments, investors are interested in bitcoin and crypto currency. i will show you the older generation and the younger interest as well. the ultra-wealthy, look at the goldman sachs survey of the richest family offices in the world taking up billions of dollars for bill gates and the like and in the survey close to half of those surveyed said they were interested in buying crypto, buying on the dip which is very bullish but they have tons of money for that. stuart: 15% already invested. >> the family offices are the ones that had billion stashed in, 4.72 etc. but on the

flipside young investors love bitcoin, they love it even more compared to 3 years ago so look at the gallup survey, in 2018 the interest of 3% at 13% 50 and older also slightly more interest as well. stuart: these oldsters, watch out for them. >> didn't know you were so interested all of a sudden. are you interested in crypto at some point? stuart: i'm interested. take my time. microsoft and blackstone, why should i mess around with bitcoin. >> he would go inside. a lot of people would. stuart: would scare me to death of it went down that far. the end is not i would think. chip holy's digital sales up down year-over-year, did the pandemic change their business model for good? the cfo of tripoli is on the show shortly. we will ask him. antigovernment protest breakout in cuba, south africa, haiti and other places. wall street journal guy dan heninger says this is not

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ship in cuba, this blood represents the blood that is going to be on the hands of those who stand next to the dictatorship. president biden, cuba wants freedom, they need freedom, they don't want food, they need freedom. the united states has to stand next to the cuban people, not the dictatorship. stuart: those protesters are calling on president biden to take a stand against the communists in cuba. they are saying it in no uncertain terms and here's an op-ed in the wall street journal, pandemic of misrule, antigovernment protests in

cuba, south africa, katie -- haiti and elsewhere are not random chaos. dan heninger wrote that article in joins us now. if it is not random chaos, what is it? >> there is a common thread, and that is these people are protesting all of a sudden against central government control, hard-core command and control economies and look what is going on in south africa where they have the african national congress in charge since 1994. i would at the protests that occurred for the past few years in russia, belarus and hong kong. from march of 2019 onward, the people of hong kong aerobically protesting against the imposition of control by mainland communist china,

including into cuba but there is a common theme of people around the world deciding they do not want to live under a command control highly centralized government system and here's the iron he. which country in the world at the moment is trying to go in the opposite direction? answer, the united states. the democrats in congress are trying to push an array of legislation packing it into the reconciliation bill entitlements, welfare spending, regulations it pushes the united states for the first time i think towards a situation where the locus of power would be totally in washington and they intend to make it permanent so that makes the united states it seems to me an outlier in where republics of the world wants to go with their lives and their governments right now. stuart: do you ever get the impression, feeling that things are just falling apart? so many countries around the

world are experiencing extraordinary protests, almost social revolution, south africa, commute cuba, lebanon, nicaragua, haiti, central america, gives me a sense of unease. how about you? >> it gives a sense of unease but also there is a positive way to look at it. one of the primary forces causing this is social media. people everywhere get images of what is going on in the rest of the world, formerly you would be in a country like nicaragua and think it is just us, our lot in life but in nicaragua, cuba, belarus, you can see what is going on in places like south africa or hong kong or even iran for that matter outside tehran, and if others

are brave enough to oppose the centralization, authoritarianism, perhaps we can do it well and i think that is what accounts in no small part for the sense that this sort of thing is going on all over the world. i would like to think of it in a positive way. stuart: try hard. thank you, good stuff, great peace. back to the market, showing you the dow 30. more than half in decline in the red going down, the dow is off 66 points. look at the level, 40,700. chipotle reported $2 billion worth of revenue in one quarter and that is up 32% from the same quarter in 2019. how did they do that? i will ask the cfo next. ♪♪ ♪♪

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tripoli doing well. they are doing better than they did before the pandemic. how did they do that? good question to ask the cfo, chief financial officer at chipotle and joins me now. did you change your business model? >> not during the pandemic but what we did was before the pandemic. we invested heavily in technology because we went from 20% digital to 27% digital but 50/50 of our business, they paid off in a big way. during the pandemic we had the benefit from a strong balance sheet so we make important investments during the pandemic, and didn't slow down at all in terms of restaurant openings, those are things on

the way. stuart: you raised prices i believe in that tells me you have pricing power. that is important in this economy because we are flush with cash and you can raise prices without lowering demand for your product. you raise prices. >> we felt we didn't have pricing power and made a strategic move were, months ago we saw the labor market is out of bounds. everybody, restaurant and hospitality hiring all at the same time to keep up with demand so somebody is not going to fill all their jobs. if we didn't get ahead of that we would be behind it and play catch up for lost time, wages 15% and took them out of price increase of 3% to 4%. customers telling us i will gladly pay an extra $0.30 and that is the average to make sure our folks are employed at

a wage of $50 an hour and we think that is back in the economy as an investment. stuart: your stock price went to the moon and that is a good thing. i want to apologize one more time for all those times i dismissed chipotle is expensive rice and beans. i take it all back and i propose at some point to eat in your restaurant. a great company and appreciate you being with us today. what is this about eric clapton refusing to play certain venues? >> held their clapton? 76-year-old rockstar in the same vintage and he says he

will not play shows at places that require proof of vaccination. boris johnson in the uk demanded vaccine passes are required to enter nightclub concert venues and said no, i will not perform at any stage where there's a discriminate audience present. his next schedule won't be until may of 2022, so to get more people vaccinated, two days at albert hall. stuart: he is saying that is a discriminated -- if you demand proof of vaccination to get in that is a discrimination against those who are not vaccinated. >> it is very democratic to him, for them to come see him play. my very favorite eric clapton song is probably the best. stuart: very poignant. i am going to segue to the trivia question. this is a good one.

what is the most common birthday in the united states? we were discussing this during the break previously, we were almost right. the real answer after this. . .

what does it mean to be a hero? ancestry helped me learn more about the man behind the medal. he was a father to two young daughters. he was a scout and he knew the land better than anyone. he came from italy with nothing for a new life. his family depended on him. he sacrificed so much. isaac payne barney f. hajiro elijah bacon michael valente he is our family's hero.

who are the heroes in your family? stuart: well, we did ask the question and i will repeat the question, what is the most common birthday in the united states? bear in mind before you show the answer bear in mind sues and i were talking about this when we saw the question, we were talking about it, and we both

guessed, september. and that is, yes, the september the 9th. that is the most come common birthday. before we go further, why did you think september, early september? >> did the math, going back nine months. december, january, colder weather means you're indoors more. hot chocolate and fireplaces are great aphrodisiacs apparently. stuart: you did know that? july the 7th, which is my birthday is the 6th most common birthday in the united states. if you work back nine months, what does that get to you? >> thanksgiving. still colder months. around the time where things get chilly. you spend more time indoors and you need exercise, right? stuart: would you like to continue the exercise on air in front of our vast audience? >> i'm being rational, explaining it to you. calendar. stuart: good stuff.

we still have 20 odd seconds to go in this segment. realize that? let me talk to you about microsoft. >> okay. great exercise. stuart: that is where citi says it is going. 37, what do you think of that? -- 378. >> assure will prove that. stuart: blackstone, 107, 108 -- >> are we going through your whole portfolio? i think so. stuart: excellent. the right answers. neil, we're out of time here, thank goodness. it is yours now. neil: yeah, i thought you would leave me with that -- stuart: i wouldn't do that. i wouldn't do that. neil: so glad you avoided that. i'm a september bit day myself. oh, boy. see that, see that. thank you guys, thank you very much. we have following same things my buddy stuart and susan have been following here. concerns maybe all of this talk about you know, vaccine