maria: welcome back, your morning mover is snap, the parent company of snapchat, better than 17%, better than expected second quarter earnings seeing current quarter revenue wise as much as 60%. big thank you to james and jonathan this morning. have a great weekend, everybody. thanks for being here. il see you this weekend, varney & company take it away. stuart: snap. another that i've missed. maria: you missed it. stuart: good morning, maria, what a week, started with a big stock selloff but ending with a recovery and probably any highs, big tech on absolute tear. all of that despite the surging delta variant and millions of people who just don't want to go back to work. you think news, that's nonsense.

triple digit gains hold, we will be well above 35,000 level. the all-time 35,991. s&p if it closes 20 points, we will have yet another all-time high. i lost track of the actual number. nasdaq clearly benefit following the strength of big tech on the upside to tune of 43 points at the opening bell. look at this. microsoft and facebook at new premarket highs. apple is getting real close to $150 a share. big tech is on a tear. and the two technology companies that reported last night, zooming this morning. snap up 10%. that's up -- i can't read it. is that 17%? yeah, it is. twitter is -- i'm squinting. 4.8%. thank you very much, you have good eyes. not much action on treasury,

yield has gone up 1.3% and the cryptos, pretty much stabilizing the morning. bitcoin is at 32,000 bucks, just above the 2,000-dollar level. as you can see, the action this morning is very much in stocks. employers want to get you back to the office, a lot of you not happy with that, 4 in 10 say they will look for another job if their employer makes them go back. government money keeps flowing, wages, benefits rising, plenty of incentives to return. a great time to be a worker, isn't it? the delta variant, big fly in the ointment with cases rising how do employers ensure safety on the job, demand vaccination for everyone, masks for everyone? i think the winners will be the lawyers. how about that? friday july 23rd, 20201. shall we call it the olympic edition? it's about to begin.

♪ ♪ ♪ ♪ ♪ stuart: red hot chilly peppers. i like that kind of upbeat music to start on a friday. you know, this is it. after a year's delay, several scandals, public opposition and a pandemic, the 2020 olympics kick off today in tokyo. roll that tape. ♪ ♪ ♪ stuart: you get to see a lot during the show today but

lauren, it occurs to me that these olympics are unlike anything we have seen before. lauren: that was the opening ceremony that you just saw. a source of national pride for japan, but it is just mired in so much controversy. you saw empty seats. not even 1,000 spectators to fill a stadium that was made for 68,000. the mood somber and theme united and emotion to capture holding, what would be the most expensive summer games ever between the pandemic cost and the infrastructure cost and then having all of these issues that you have to face. stuart: my heart goes out to the organizers that pressed on regardless and my heart goes out to athletes that were there any way that tried hard to get there. lauren: made for tv right now. stuart: we can make something of the stock market. that's a fact. look at it go. 180 points up for the dow, 18 s&p and 40 for the nasdaq, look who is here, i bet he has a big smile on his face, kenny, look,

kenny, let's get it straight. looks to me that we have a melt-up on our hands and led by big tech, what do you say? >> that's what it feels like. the whole theme on monday about the delta variant creating all kinds of chaos is just that. it was just a narrative. it wasn't really anything because if it was it would have carried all week. what we are kind, they are focusing once again on earnings and last night we had great earnings from twitter and snap as you said this morning, both up significantly. intel just churning, they came out last night too. they beat, there was concerned going fun. intel is not doing a lot but, yet, the focus is once again on growth and once again on tech and that's lighting up the market. stuart: i just don't want to report profit reports. i know it's early delaying of profit reporting week or period, so far looks to me like they have been absolutely spectacular. every bit is good as forecasted,

probably better. >> right. that's what you think. so far it's 90% of companies that are reporting have beaten not only on top and bottom line but guidance is strong as well and so, yes, while it was expected to be good, the ones that are beating are beating by quarters and 50 cents and the ones that are missing are only missing by pennies, yes, it's about the excitement built around the earnings, once again, are we at the peak of earnings, is this the best we will get for the rest of this year? that's a little bit of the concern. they can't continue to grow at this pace and so you would expect them to start to pull back, right now the earnings just as they were expected to be. stuart: got it. stay right there, please, kenny. i want to move onto crypto. jack dorsey says bitcoin is going to be, quote, a big part of twitter's future and bitcoin is up this morning. so what did he mean by that? >> he says that bitcoin can help

twitter move faster expanding new products. they have something called tip jar, you can send money to other twitter users or their new --subscription, for instance. bitcoin is best candidate to become native currency of the internet and conveniently his other company square owns $250 million worth of bitcoin. but bitcoin had found support at 32,000. stuart: come back in again, kennedy. here is the question, should bitcoin be a big part of any company's future? >> well, listen, i think it's -- i think we will see how that develops. ultimately bitcoin will be part of the future and so therefore companies will have to take it at their own pace. i didn't hear jack dorsey in the comment himself so i'm listening to what you said. it's convenient like lauren said and they want a chunk of it and talking his book a little bit, i

think you have to be in the space. i think you have to start thinking forward and pushing and investors should consider where, you know, where we are going and where the buck is going and now where it's been, therefore, bitcoin should be a part of the portfolio but i do believe it will play a bigger role in companies that will go along, what the role is, no one has really seen. stuart: you skate towards where the puck will be. i will try to remember that one. hey, kenny, you're all right. i want you to have a great weekend. >> you as well. stuart: as we watch the melt-up going forward. let me get back to earnings which are terrific. we have a batch of them out this morning. starting with american express, it's up 8 bucks, 4.7%, lauren. lauren: should be record high. renew is 10 -- revenue 10 and a quarter billion, expand everything from going shopping to services to travel. stuart: huge gain for a stock of

that size. honeywell, how did that do? >> they beat and raise. company is doing very well especially units, aerospace units. stock is down, trying to figure out why. stuart: it's a dow stock. i see kimberly clark, they are way down as well. lauren: everyone hoarded toilet paper last year. that's not happening anymore. they missed estimates and lowered guidance and moving in the other direction. they said their tissue volumes are down. haven't passed to customer yet and absorbing it and sometimes investors don't like to see that. stock is down 1 and a half. regents financial turned a profit. investments in digital payment are paying off. they are seeing adoption, mobile users rose 13% in the last

quarter. stuart: overall, the earnings are fantastic? lauren: right, the narrative on corporate america is pretty god. stuart: that's the important thing. when they go and talk about the future, that's what the market reacts to? lauren: the ten-year is closer to 1.3%. friday full of good news today. stuart: big show ahead of you, 11-time olympic medalist ryan joining us on the olympics. white house press secretary jen psaki insists the administration is not pushing critical race theory. we are on the story. we are look ago head to next week, a huge week for big tech. the action start on tuesday. look at twitter, show it to you again. fastest revenue growth in 7 years. betting big on bitcoin. that stock is way up. one more check of futures on your screen, plenty of green. looks like we have a friday rally on our hands.

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is san francisco and it's only 53 degrees right there right now. have a look at futures, please, friday morning, 15 minutes till the opening bell. big tech on a tear, ladies and gentlemen, look at this. all of them up, apple, amazon, facebook, google, microsoft on the upside. and then there's this,

widespread internet outage, it hit multiple companies like amazon, southwest, home depot and many more. lauren, do we know the cause? lauren: yes, we do. a big in domain name system or dns that basically allows users to take to final destination. the bug triggered during software update. there was no foul play. when this happened yesterday, people are nervous, i can't check to my delta flight, what is going on, is this another cyber-attack, look at all the companies that were affected. that's just some of them. good news, no cyber-attack, this lasted about an hour, hour and 20 minutes and been resolved by it's a black eye, second problem they are had in over a month. stuart: it gives you a nasty scare because you don't know what the cause s it was a bug. nice to know. lauren, i want to show you snap, please. is it still up? yeah, now up 16%. it had a very well received earnings report late yesterday.

mark with us this morning, you follow the stock. is it -- is that kind of gain 16%, is that justified by yesterday's earnings report? mark: numbers came in almost 20% higher than street expectations so that's unusually large upside so that caused spike in the spot. overall they printed 116% add revenue growth. keep in mind, stuart, the peak, the strongest growth you're going to get printed from any of the names because you are going up against easiest covid comp. those are impressive and that justifies the pop. stuart: okay, what do you think it's going eventually? mark: our price target is $85 on the stock. the other thing to watch out for and why the market was so pleased with the results were the -- the user growth, what's called the monthly average user or daily average user growth. that was an excess of 20%.

this is probably one of the fastest-growing assets in social media land because it's more for reopening play, almost all other internet advertising social media plays benefited from covid but not snap. it's more of a public engagement. you see friends and you create a story. it went down last year. they aric go -- are going to be the few advertisement, the other names are tougher challenge this year. stuart: mark, i have to mover onto twitter, let's get that in here. the stock is up this morning. jack dorsey says bitcoin will play -- will be a big part of twitter's future. what do you make of that? mark: he's been saying that for a while. i think it's still speculative. bitcoin this year, no question about it, how big part of

twitter's future it is than any other company. the reason why it won't pop as much is snap going forward because the user growth is as strong, they grew 11% year over year despite a lot of feature and product innovation. the market's question, you put features, product improvements but we don't see takeoff for user growth, what gives. stuart: we have an audio problem. we will postpone next week. i have an important story coming from general motors. they have issued a second recall for their electric vehicle. this is not just any-old vehicle that they are recording for the second, i know, this is the bolt. i think that makes it a big deal. lauren: 61,000 chevy bolts worldwide being recalled so they can fix something with the

battery module. don't park cars inside garages, don't charge them overnight because they could catch fire, recall number 1, recall number 2, for chevy bolt 2017 to 2019 model year. it gives you pause when you are going to buy an electric vehicle when you hear news like this. stuart: this is general motors, big-time electric vehicle on the market for several years and being perfected and hits a hole in the vehicle charge. i suspect that's what's going to happen here. lauren: it makes people nervous. stuart: thank you, makes people nervous. i want tobago back to big tech, can you put that on the screen again. i'm seeing futures all in the green, show me big tech because i've got a feeling this is a melt-up day for some of those stocks, in particular i'm focusing on microsoft. look, it had a fan that's you can run so far. just this week at 287 going up a

bit more today. look at facebook, up about 9 bucks today at 3:60, apple is getting real close to 150 bucks a share. we keep saying this. we keep covering big-tech but you have to. these are the biggest and most important companies in the world and the stock price just keeps on going up. big deal next week when they all report their earnings. how about the overall market? again, i have to tell you, t friday morning and we are heading into a big move up at the opening bell. that's what we have for you moments from now. and we have a guest also who is placing his bets on the reopening of las vegas. he likes in particular wynn, back with all of that after this. ♪ ♪ ♪

stuart: it's going to be a nice opening bell today. stocks are going up. look on your screen, plenty of green. the ten-year treasury yield, 1.31%. the yield is on the upside.

greg smith joins us this morning. all right, greg, welcome back. good to see you again. i know that you're buying las vegas because it's reopening but you in particular you like wynn, wynn. >> who needs europe anymore when our country has many things to offer. i've been in la, miami, chicago. i'm about to go to austin, texas, and what i can tell you people are out and about. we are seeing airline ticket prices to tick up and trade at prices that were pre-pandemic levels and i can tell you las vegas is bustling. wynn resorts was one of my covid trades that i shared with viewers on the show in the 80's, target price to 120 to 130, we saw trade over 140, i sold my position and this week i

began buying it back around 106. i'm actually hoping it goes down, they do report in 2 weeks hoping it goes down but i think there's 50% upside in wynn resort. we are definitely seeing return of leisure travel and we are waiting to see business travel pick up and we have to think that will pick up in the beginning of the next few quarters. stuart: is wynn is just a las vegas casino operator or do they have in macau? >> u.s. as well as asia and it's a great trade but if you do go to vegas, it's crowded and people want to have a big time and the next uplift in this that will take stock significantly higher will be the business reopening. that will come soon and i think it's a good place to be. stuart: i'm going to put on the

screen the schedule for next week's earning report from the very big technology companies, it start tuesday, microsoft, alphabet, apple, thursday it's amazon. all of the stocks have had a terrific run-up, those earnings, gregg, they have to be absolutely spectacular, right? >> traded off, let's see what happens with rates. a lot of people believe they will start to head higher. tech has growth. i do not think it's overpriced. i'd actually like to see the stocks come off, but i think tech offers growth and it's just the great place to be. so i continue to hold all of the names that you mentioned. i'm an owner of apple, facebook, amazon, snapchat which you discussed a little while on the show and these are just good

places. these are holding in my portfolio and i would not be trading out of these names. stuart: we hear you. gregg smith, i hope that you have a great weekend. did anybody buy the lunchbox collection? >> i'm still trying and offered to give to charity. no bids. stuart: i thought i might be able to sell something for you and get commission but apparently not. gregg smith, we will be seeing you soon and watching the big-tech earnings, thanks, gregg. see you soon. the bell rings in 40-odd seconds. very interesting close-out for the week. history here, remember monday the dow dropped i think 725 points. it was a major league drop and great deal of panic. is this the start of the correction? that's the question that we were asking on monday.

come tuesday, big rebound. another rebound on wednesday. modest gain yesterday and this friday morning, here we are, with a very solid rally on our hands with 15 seconds to go to the opening bell. it looks like if this trend continues, we will be setting another new high for the s&p today and maybe, maybe for the dow jones industrial average as well. here we go. it's 9:30 on a friday morning. we are up, we are running and right from the get-go we are going to see some green. not much at the moment -- not all of it. there you go. thanks very much. we got the vast majority of the dow 30 in the red -- i'm sorry in the green going up and the dow is up about 140 points. 34,970 is your level. the s&p 500 also higher about half percentage point higher. it closed just a little higher than that, another couple of points higher you have a record high. solid gain for the nasdaq today. up about .4%.

the big-tech, that's what's driving this thing. all of them on the upside. facebook, amazon, twitter, all have opened higher. let me see snap and twitter isolated if we got that please. they reported late yesterday, stiller results, snap is going higher, 17% up on snap right now and twitter is up 4.7%. and then there's intel, they reported pretty strong earnings, pc sales up 33%, but stock is down 3% and lauren will tell us why. >> it's down because current quarter of guidance for margins, profitability measure is light. forecasting a drop 255% from 59% and that is likely related to the chip related cost that they're facing. chip shortages are a huge issue right now. how long does the imbalance last in the market? we are getting guidance because we are getting earnings, texas instruments, they say the shortage can extend to 2023.

stuart: ouch. lauren: night not be that bad for that long but stretch that long. so this is a problem that isn't going to disappear overnight, clearly. stuart: the jobless claims numbers were slightly inflate bid car companies in michigan which had run out of chips so they shut down, so people are unemployed, that accounted the 400 -- lauren: 419,000. stuart: let's get to airlines, american, new hiring push, stock up, still depressed at $21 a share. how many people are they hiring? lauren: 1300 pilots. this is a bet, talking about the future all of the time that the travel recovery, yes, it's a hope that the business travel returns. american said this week that domestic business travel about 45% of pre-pandemic levels. so it's getting there, so you hire all of the pilots, you bring them back and you hope the business traveler and the international traveler and the leisure traveler returns and

stays. stuart: i wonder how many business travelers are going to go back, are we going to get back -- lauren: i'm traveling next week for time for work in a very long time. stuart: is it vacation? lauren: no traveling for work. i'm business travel. stuart: i didn't know that. stuart: tada. it's been a long time. i can't tell you the last time i traveled. pennsylvania. stuart: that's a big trip. lauren: 6-hour drive so i'm flying. stuart: on your screens, can you see that, boston beer is down 22%. i'm told and lauren is going to tell me straight here, they have a problem with hard seltser, last summer everybody was drinking hard selster anything

so they start to produce more of it and not many people drinking anymore. ugly report card. wall street is downgrading them severely today 875. there are other issues too, but it's an ugly report card and a really ugly reaction by wall street. stuart: complete standout from the other earning reports that we have received. how about pizza, i'm told it goes well with pizza. dominoes, they had a big day yesterday, jp morgan is warning against the stock, warning about the stock. why? lauren: price target of 530. the shares are too expensive and now is the time in their words to step away.

so domino's pizza, they hit a high of 548, the pizza party outlasted the lockdown. everyone was delivering pizzas to their houses because we were all stuck at home. the late-night ordering, the weekend ordering, backdrop for them. it was a great report card but jp morgan and other brokerages this morning are saying, look at the price, look at the chart, it's gotten ahead of itself. stuart: i'm sorry to say we are concentrating on lowers when the dow is up 214 points and we have a few winners. let's not disappoint our audience. lauren: some good that's all. stuart: google, credit swiss, the stock is going to $3,350 a share. well above where it is right now, 2600 bucks. that would be rise of 30%. that's what credit swiss says and the stock is up 1 and a

quarter percent this morning. show me the big dow winners, please, headed by american express, great earnings report, visa, boeing, travelers, goldman, all on the list. s&p 500, big winners by robert health, american express is on the list, along with moderna still going up after getting in the s&p 500. nasdaq, top winners is facebook, how about that, close to $360,000 a share. monster beverage, alphabet, pfizer all on the list. plenty of winners today. we should also check trucks, we talked about them yesterday. i actually went online television saying that their shoes were ugly. well, we have the ceo on the show a little bit later and maybe i will apologize for calling his shoe ugly because that company is wildly successful. all right, a lift ride, self-driving car shows up. that could happen in one city in

america very soon. in a moment we will tell you which city that will be. ♪ ♪ ♪

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stuart: well, well, i will call that friday morning rally, why not? close to 200 points. nasdaq is up as well. that's not a big nasdaq gain. show me the ten-year treasury yield, back to 1.30. 1.30%. gold, 1300 an ounce. bitcoin firm at 32,400 bucks a coin. oil recovered to 70, $71 per barrel and the national average

for gallon of gas is still 3.16. in california, the average for regular -- that's what i'm trying to get to. thank you very much, lauren. finish my sentences for me, please, regular unleaded 4.32. lauren: arm and a leg. stuart: why don't you fill out the paragraph as well? 4 in 10 workers say they will quit and find another job if they're force today return to the office full-time. john lansky with us, wouldn't that force companies to shift to hybrid model. >> 4 out of 10 workers can actually afford to quit jobs and quickly find something, a comparable pay, comparable quality. stuart: really? i'm surprised -- wait, wait,

wait. wages are rising. there are 9 million unfilled positions. benefits are rising, the government pumping out a great deal of money every week, every month to millions and millions of people. i mean, come on, it's an opportunity to stay home, go to a hybrid system, don't go back to work, i think it'll slow the economy. >> yeah, it would slow the economy, there's no question about that. we find that the chip shortages and hire costs for commodities are in the process of slowing the economy right now, i simply, you know, for younger workers, this would be the dumbest things they could possibly do if they want to go ahead and get ahead in life. i mean, you're starting your career and you want to be working with other people and you don't want to be sitting or looking at a computer screen all day. that's idiotic. i really don't believe that the study and behooves american workers to get out there and

meet other people and move ahead in the career ladder. stuart: i can see getting no sympathy from john this morning so i will move on. tell me about inflation because we have a rally on our hands on the stock market this morning. that's a big rally and markets seem to be saying, hey, inflation is not that big a deal and it's going to fade, are you in the camp as well? >> right now it's not a big deal for corporate america because inventories are lean, companies are discovering they can go ahead and hike prices at will and -- and they're yet to suffer from an unwanted accumulation or build-up of inventories that in the past has led to price discounting, profit margins, maintained. it's not going to be the case forever. at some point, inflation will begin to erode purchasing power

by enough so that sales volumes begin to decline and companies suffer. stuart: you're painting a pretty dark picture, john, you imagine -- >> yeah, unfortunately this is how we got rid of rapid price inflation in the past. right now, we are perhaps going through one of the most severe episodes of price inflation since the early 1980's. we know how that ended. that did not end in a plea pleat type of scenario, ended with high interest rates which brought the economy through its knees. stuart: can we get through this year with huge interest rates and without the economy being brought to its knees? >> i think that's going to be the story if inflation lingers. for the time being, the equity

market, the bond market, the exchange market are not troubled by priced inflation. that's not going to be the case if we find that we are looking at price inflation in excess of 5% come early next year. stuart: all right, we will be looking for it. john lansky, thank you very much for joining us. we will get back to the stock market rally. dow up 171. close to 35,000. i want to look to the future for a second. bring you that story on self-driving cars. lyft users in miami, that's the city, they are going to be getting into self-driving vehicles by the end of this year. my goodness. that's soon. i department expect -- i didn't expect it that soon. lauren: i know. they are teaming up so later this year in miami when you ride-hail a car, the car will drive itself. it's the first time they are doing this with members of the public. there's going to be a safety driver there at first, so you are getting into a car with

another person in it but that person is basically going to be hands off just take the wheel or the pedal if they need to. so they are really testing the public acceptance of autonomous vehicles and they plan to expand and come to austin next year. stuart: they picked miami to start. lauren: they have been testing there for years so that makes sense. stuart: that's the future. lauren: weird, though, right? stuart: i would like to see how it works. we have a story on mercedes. joining growing list of manufacturers going all electric. lauren: by 2025 they will only make electric cars and by 2020 they plan to sell only electric cars and with the push 47 billion-dollar investment on their part, so even nice luxury cars all electric and it's happening really soon. 2025 is just over 3 years away. stuart: i do believe it's electric. i better get on board. thank, lauren.

just 50% of nfl players are fully vaccinated. we will tell you the warnings by the commissioner about vaccination rate and about vaccination. athletes start to compete for gold in tokyo. 20 million americans plan to bet on the games. we are live at fanduel sports book in new jersey next. what are they going to bet on? which events? ♪ ♪ ♪

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stuart: the nfl season is a go but commissioner goodell issued a warning to the players who did not get the jab, what did he say? lauren: teams will face consequences if the unvaccinated players cause covid outbreaks, warning that that could lead to automatic forfeits and fines and players won't get played for that week if a game has to be canceled. right now players are encouraged to get vaccinated but not required but the nfl is really standing tough here. look, you're free to get the vaccine or not but you are not free from the consequences of your choices. you will have to pay up and some people are saying, helmet keeps you safe, that's mandated.

a vaccination keeps you safe, they're not mandating it but they are pushing the players to get it. stuart: i'm sure they'll be pushback from the players. lauren: and there is already. several players are saying no way, i'm questioning my standing in the nfl. stuart: the season is not that far away either. lauren: no. stuart: let's get to the olympics because the number of covid cases at the olympics apparently on the rise. do we have a count on how many athletes are infected? lauren: 110 cases have been linked to the games, that's not completely athletes and there have been over 1300 cases in tokyo today alone. so that's 4 straight days where the numbers are above 1,000, so like everywhere, the numbers in tokyo are going up. stuart: they are going ahead with opening ceremony on the screen. lauren: this is something that we are living with. we have to live with covid apparently. they will not cancel olympics even though it is unpopular for the second year in a row. stuart: my heart goes out to those guys, against all the odds

they are putting it on. lauren: you know how expensive this is going to be japan, they bid 7 and a half million and you add precautions for covid and, you know, even if the olympics caused more outbreaks, the government might have to do more stimulus. stuart: how much does it cost them? lauren: over 20 million. stuart: athletes are competing for gold in tokyo. gamblers are looking to strike gold. which events have the most interest for gamblers? >> basketball. that's according to the american gaming association. that's garnering the most attention from early betters and the game start tomorrow coming in second according to association is soccer, fanduel says, though, they are seeing the most interest in track and field. the summer olympic games, this is the first time that people

had the opportunity to place a bet as sports betting has been legalized by 21 states and the district of colombia and people that want to participate in gambling around the olympics, they don't have to travel and potentially see more activity in the gaming world. 20 million people to place a bet and a lot of that could happen in new jersey right here where i am because this is the second largest market for sports betting just outside of nevada. now each state actually gets to decide how much money they withhold from the sports book and taxes. i can tell you here in new jersey, the state generated over $148 million in taxes in the 3 years that sports betting has been legal here. it's just 1.3% of the revenue generated, stu. stuart: can't walk away from money like that. lydia, thank you very much, indeed. by the way still on sports, i just got this coming at us, the cleveland indians baseball team

has changed its name, they're now the cleveland guardians, they were known as the indians for more than a century, now they are the guardians. quick check of the market, the dow has come back a little. we were up 200, now up 130. nasdaq is now up 43. we still are a big show still ahead for you including 12-time olympic medalist ryan lofty, plus my take on ben&jerry's israel boycott. another example of far-left embarrassing our country. second hour of varney & company moments away. ♪ ♪ ♪ i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh.

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♪♪ stuart: dire straits, yes. dire straits. great guitarist whose name i've forgotten. who is that? ar mguy- eart .> ius rdoeded t ua: ualcuaeomheo t sho sw, youn m .an >> l ioul ou o otos .nene au teauteauteauteauau igstra thtrourouon,onhaonha

lyalal.rere iws up 1asdapdapdapda 3 g tech,h, ihi ahill o o o o o h stockck sll ... s,hey are.re.re. book iss c to 3. 2888888 amazonaz 3,6.. al f emn tnide. -year treasury yield, by the way, is at right now 1.28%. a few moments earlier it was 1.30, now it's 1.28. what do you make of that? now this. what a cheap shot. ben and jerry's doesn't want its ice cream to be sold in some parts of israel, the west bank and gaza. the only democracy in the middle east. the only country enjoying the rule of law, decades-long ally of the united states x these multimillionaire socialists from vermont will boycott. their statement says selling ice cream there is, quote, inconsistent with our values. i wonder if they will keep selling in hong kong now that

the chinese communists have crushed its freedoms? or russia, myanmar or any other country blatantly flouting human rights. nah, they're just going after israel. ben and jerry's announced their boycott right after congresswoman rashida tlaib viciously attacked israel. she said they were bombing palestinians. ben cohen and jerry greenfield are ben and jerry founders. are they doing the bidding of the squad and their fellow socialist from vermont, bernie sanders? it sure looks like it. once again, the far left has embarrassed our country. ice cream guys jump into the headlines with a cheap gesture that guarantees more division, more hostility. you may think this is a minor issue. it's not. the socialists are engaged in an economic war on israel. i hope they lose. i hope ben and jerry's loses. texas and florida are considering retaliatory action. i think that's great. i'm not watching the olympics if

i'm going to see our athletes insult is our country, and i'm not buying ben and jerry's ice cream when they insult a great democracy. the second hour of "varney" is just getting started. ♪ ♪ stuart: she's back. tammy bruce. all right. have i gone too far calling ben and is jerry's a cheap shot? what do you think? >> new york i think it's actually, it's perfect. and that's a very good reflexion of what the left is doing -- reflection of what the left is doing. everything is cheap, everything is shallow, virtue signal. but what they're believing in, of course, destroys people's lives. they prance around, they parade and they make statements and you can't eat our ice cream while in the meantime, of course, israel makes life worth living in the middle east. it is the example of freedom. as you noted, the only democracy.

i mean, you've got a dynamic here where at least i think the silver lining here -- and former prime minister netanyahu noted this on twitter -- that at least now people know what ice cream not to buy. this is, the good news is there's lots of ice cream to buy -- [laughter] and, of course, lots of ice cream in israel as well. but it's a reminder about the nature of the left, about how cheap they are, about how shallow they are and how they really don't, one, they don't have an impact, but they do create an environment that's miserable and divisive, as you noted. stuart: i want to move on to another, i'm going to call it a hot topic, and it really is a hot topic. white house press secretary jen psaki insists the administration is not pushing critical race theory. watch this. >> it was an error in a lengthy document to include this citation as the specific site does not endorse -- does not represent the administration's view, and we don't endorse the

recommendations of this group. and i believe it's been removed or is in the process of being removed. stuart: what do you say to that there, tammy bruce in. >> yeah. you know, it's like they got caught. it's like, oh, it wasn't us. that wasn't me that did that. yeah, you notice what's missing anything her statement, stu, is her rejection of that theory. at no point did she say we don't agree with that, that is -- it's not just that we don't endorse it, it's that we reject this because it's divisive. another dynamic where the left doesn't have even the depth to say something serious is. now, of course, they want to say that, but we hear it coming from all parts of the administration. we hear it coming from schools around the country. we hear it coming from the mouths of people who are leading democrats, and that's what they want to do. i mean, this is a vacuum of leadership. you know, with donald trump, you know, we knew where he stood, we knew what the values were.

with joe biden it's always about kind of pulling the curtain over, not really saying, oh, we don't believe in any of that while effectively doing the opposite by not condemning it, by not taking a position. you notice it's just, like, she said nothing within that. oh, we don't endorse it, it doesn't reflect our views. what about saying this is bad for america, this is bad for children? it does tell you, stu, that they've seen the polls. it tells you that they know, and this is even worse, that americans don't want this, that parents don't want it, but they're willing to allow it to happen anyway. stuart: i sometimes wonder what's happening to our great country. but tammy bruce is setting us straight, and i appreciate that. see you soon. >> thank you, sir. stuart: look at those markets go. dow is up 34,900, nasdaq's up, s&p is up, and is jonathan hoenig is with us now. i've got a bone to pick with you, hoenig. last week -- you know what's coming. last week you say is you were

cautious about the market, indeed, as it was about to go down, now you say the market seems almost unstoppable. you turned on a dime, jonathan. >> well, look, i'm still short, and i'm still getting my koester handed to me, but i was cautious, and identify been dead wrong -- i've been dead wrong. i'm looking at stocks like target, eli lilly, mcdonald's, google, microsoft, all at either all-time highs or 52-week highs, and that's bullish. the market is still in bull mode, but the momentum has slowed. only about 40% of stocks now are above their 50-day moving average. tech earnings going to be hot next week, and i'm also watching bitcoin. the market rallied once elon musk started pumping bitcoin, so i still think it's the early warning indicator. when it drops, the market will drop as well, in my opinion. stuart: i'm sure you saw jack dorsey is, twitter guy, saying bitcoin will be a big part of twitter's future.

i think he said you've got to -- he's going to invest aggressively in bitcoin, that's what he's saying. what do you make of that? >> jesse livermore had a saying, when in doubt, stay out. and i'm staying out of clip to currency. stuart, in my opinion, this might be one of the situations where the technology succeeds, like the internet, but the bitcoin price, like a lot of the internet companies, don't succeed. put it all against the back drop of increasing regulation not just over bitcoin, but over big tech, taxing and spending from the biden administration. i just think now is not an ideal time to be putting a lot of money in new, speculative investments, especially bitcoin. stuart: got it. jonathan hoenig, we will see you next week. >> be well, thank you. stuart: put this up on the screen. blackstone, please. that's an all-time high, $112 a share. by the way, multiple analysts raising their price targets.

deutsche bank, piper sandler, morgan stanley, by the way, thinks it's going to $124 per share. full disclosure, i own a thin shiver of blackstone, and i've done very well with it, thank you very much, indeed. show me pfizer -- todd, with us this morning. he'll be with me for the hour, by the way. glutton for punishment, this guy. do we know how effective the pfizer jab is against the delta variant? >> we got some numbers from a pretty reliable source. two shots of pfizer, your protection against delta is strong according to a study in the new england journal of medicine that found the shots were 88% effective against the delta variant, 93.7% effective against the alpha variant. for those receive ising only windows was 33.7%, that's a huge drop. delta, as you know, over 200% more transmissable than the original covid virus -- stuart: so you've got to get the second shot. you've got to do it.

i'm vaccinated, fully vaccinated, i encourage others to do the same. >> likewise. stuart: very good. italy introducing green covid passes. what do you have to do to get one of those passes? what do you have to do to show them? >> they are coming to italy. you need to show them when you've gotten at least one jab is or if you've recovered from covid entirely. starting next month at gyms, museums, spas, casinos, cinemas, eating indoors at restaurants, you also need to show a pass because the number of coronavirus cases has doubled in the past couple weeks. stuart: a lot of pushback against it, but i think you're going to get a lot of pushing for it as we try to bring people back to work. i think -- i don't agree with a vaccine passport, but i can see it coming here and being pushed bigtime. >> and remember, if you're a business and you're a private company, you can force this. stuart: because if you get people back to work and one of

them gets covid, they sue you, the employer. >> and lawyers are licking their chops right now, you know in sadly, that's the state of affairs. stuart: you're going to see the greatest class action suit this world has ever seen. all right, more later. the mayor of portland mocked for his plans to hold a welcome back festival after a year of violent riots. we'll bring you the story. plus, white castle so desperate to hire workers, they're calling old applicants from years ago trying to get them back. first, though, we're going to show you ryan lochte, 12-time olympic medalist, he just missed this year's games, but he has no desire the retire anytime soon. he's on the show. ♪ you're the best around. ♪ nothing's going to ever keep you down. ♪ you're the best around ♪♪ we made usaa insurance

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♪ ♪ stuart: the olympic fanfare. i was trying to place that music. that's what it's called. you're looking at tokyo, japan. it is 11:15 at night there, and i do believe it is raining. look who is with us here this morning, ryan lochte. ryan, welcome to the show. good to see you, sir. >> ah, thank you for having me. thank you. stuart: just to establish more of your creds, you're a 12-time olympic medalist, world record holder. are you a little disappointed that you're not at the olympics this time around? >> i am. i am very disappointed. i'm very sad. especially we were just, me and the kids, the whole family, we

were watching the openinger ceremonies, and, like, tears were going down my eyes. it's just finish this is the one, the olympics that i wanted the most, and i fell short. but i'm also happy for all the young kids that got the chance to represent their country at the olympics. stuart: yeah. >> so we'll be watching. stuart: we will, indeed. let's get to the anytimety gritty. [laughter] -- nitty-gritty. if an american athlete makes a political statement on the podium, would support that? what would -- would you support that? what would be your reaction? >> i mean, everyone has their own right the speak up on their own terms, but if it's anything on disgracing the flag, i don't commend that. i'm american, i love america. but with everyone has their own -- they're entitled to their own opinion. so if it was me, i definitely

wouldn't, but that's just, that's me. stuart: i'm -- on the same theme, would you, what do you make of the push to boycott entirely the 2022 beijing winter olympics? >> i mean, it's basically to olympic committee is trying to make everyone safe. and i think that's the biggest thing that we with all have to do, is we all want to make everyone safe. and they're going to come to terms on whether having the games or not having the games, whatever is better for the people. i don't want to see that happen just because i know how hard being with an athlete working for four years to make the olympic team is. andment i don't want to see those dreams fall short for our athletes. stuart: yeah. i really want to concentrate on the effort that these athletes have to put in to make it to the olympics. i mean, you know exactly what

i'm talking about here. how many hours of training in the pool per day would you go through to get into the olympics? >> oh, man, it's probably around 4-6 hours a day of training in the pool. and then you have to train outside the pool. so you're looking in an average week anywheres from 30-40 hours of just training. it's a full-time job. stuart: and if you -- [laughter] i mean, do you do this all the time? [laughter] you do this for years and years on end? >> yeah. yeah. stuart: what do you do now? i don't know whether you've retired or not now, but what do you do? >> well, today i am, i'm still swimming. i'm going to the world cup meets in october, so i'll be doing that. i'm still training. but most of the time i'm here at home playing with my kids. we're going to disney, like,

just doing all the fun stuff that i couldn't do while i was in hard core training. stuart: you're 36 years old, so i'm told. i've not checked, but i believe you're 36 years old. >> yeah. stuart: you're looking great. >> oh, thank you. [laughter] stuart: do you think you've got another olympics in you? >> ooh, you know, that's hard to say. i'm changing up my training now, and i always said that i would quit swimming once i stopped having fun. and i'm just finding so much joy in the sport now that i don't know if i'm ever going to stop. well, not right now. so we'll see. stuart: if you want a part-time job, you could perhaps teach me how to swim because i don't know how to swim with. do you think you could do that? >> what? oh, easily. i got you. [laughter] yes, i can teach you how to to swim. stuart: many have tried, ryan lochte, believe me. i sink like a stone. [laughter] progressively, on that note, i

have to end it. we're out of time. wish you the best of luck. i hope everything works out for you. >> thanks. stuart: my best to your wife of and kids and all the rest of them. >> thank you so much is. i appreciate it. stuart: you got it. thank you. how about that? now, on a related note, people protesting at the games are so loud, they can be heard during the opening ceremonies. all right, who is doing the protesting? >> you never asked me to teach you to swim. [laughter] stuart: sorry about that. >> if you heard some yelling at the opening ceremonies, it wasn't from inside the stadium, it was from outside. about 50 protesters gathering to demand the cancellation altogether over the ongoing coronavirus pandemic. but because there were no fans inside, you could really hear the fans outside from the cameras inside. only athletes, delegation members, media sponsors, stuart's future swim coach -- stuart: ryan lochte, that was good. [laughter] what do you think about if an american athlete makes a

political demonstration? let's put it like that. on the podium, what would be your reaction? >> the olympics are literally designed to represent your country. if you're a swimmer and you're going to meets throughout the world and you're going to raise money for yourself, make money for yourself and you want to protest there, fine. but literally the reason you are swimming in the to olympics is to represent and honor your nation. it seems odd to protest the same nation for which you are competing. stuart: any vent, whatever event you're in, you get to the to podium, you make a political protest, i'm flat out against it. i realize you can't take politics out of sport entirely. i understand that. but the extreme protests, i don't want to see it. >> do it in your private sport life. stuart: yeah. stop using your celebrity for political, your personal political -- >> not where we are though, stuart n2021. stuart: i'm afraid it's not. but it's where we should be. todd, thanks very much. i'm going to call it a shocking number of workers say that if they have to go back to

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♪♪ money, money, money, money. ♪ money, money, money ♪♪ stuart: we play that song a lot, to we not? okay. it's going to be mostly sunny in d.c. temperatures going to reach 87 degrees. should be a pretty nice day in the nation's capital. president biden is brushing off inflation concerns. edward lawrence is at the white house. edward, you've been digging into these price surges. which areas are seeing the biggest surge? >> reporter: yeah, you know, huge surges in travel, you know, energy, the stuff that we buy. but before we get to that, you know, there's two schools of thought on this. the white house says that once the supply chain bottlenecks sort of work themselves out as well as the spike in demand is sort of done with the reopening, things will settle back down. other economists are saying that bottleneck is just one part of it. you look at government spending that is pushing consumer demand,

pushing consumers to buy more of this, and that's creating even more inflation. throw in the federal reserve system that's awash in money, and you've got a bigtime inflation pressure. listen. >> if you look at the federal reserve, they expanded their balance sheet by 77% last year. it's up another 18% year-over-year right now. if you look at money supply which takes into account what the fed is doing as well as all the stimulus we've got or under president trump and now president biden, money supply's up 14% year-over-year. >> reporter: now, i want you to look at this. for your home washing machines are up 29.4%. whirlpool raised prices to you have set the -- you offset the e in their costs. when you talk about travel, look at car and truck rentals, up 87.7%. many rental car companies offloaded their inventory of car when no one was left to travel

last year, and now they're trying to buy these new cars, and that's adding into the shortage. plus, the semiconductor shortage is all adding into that. gas prices are up, airfare's up 24.6% over the past 12 months. so so people with vaccinations are saying, hey, i can go out instead, and i think there was a little bit of surprise on airlines' part as to how many people are saying i'm vaccinated, i can travel and how quickly travel is coming back. back to you. stuart: thanks, ed e world. edward. let's bring in mick mulvaney. we just had an outline there of some extraordinary gains in price gains, rapid surge in inflation. the president and the federal reserve think it's just temporary, it's just a temporary spike. what do you think? >> good morning, stu, it's great to see you back, great to be here. yes, a little bit. certainly, the numbers in rental cars, for example, and airline fares if you look at the data,

that's june over june. and june of 2020 no one was renting a car, the flying was depressed. so to a certain extent, that's -- data. but the larger mega trends are absolutely what you just talked about which is the fundamentals are there for -- across all commodities, all services, all goods. why? if inflation's a function of the amount of money chasing the number of goods, the more money you have, and the fewer goods and services that you have, the more inflation you going to have. we have temporary restrictions in the supply chain, might have a temporary boost to demand because of government stimulus and so forth, but that doesn't change the fundamentals. and the fundamentals are that there's a lot more money out there that's going to stay out there, and it's harder and harder to bring goods to market. not just because of covid which will go away, but because of what this administration is doing in regulatory and tax policy. they're restricting the ability to get goods and services to market. that has nothing to do with covid, and it is inflation.

stuart: let's talk about this because, as i see it, if you add together all the spending plans that are on the table, i think you're looking at about 4-5 -- i mean, it's hard to add it up, but it looks like $4-5 trillion worth of spending kind of on the table being discussed. realistically, mick, how much of that do you think we're actually going to get? >> someplace between that and zero. with by the way, that number that you just mentioned is a compromise that was started at about six. they are going to sit someplace between $3-4 trillion if they can. keep in mind, stuart, we talked about reconciliation, and everybody -- you could reconcile everything you want to in washington, d.c. and get around the filibuster. this is simply not true. a lot of infrastructure, for example, is not reconcilable, so you're not going to see a bill that's $4, 5, 6 trillion, but if they can get 3, 3.5, in the low 4s, they're going to do it.

democrats will not allow the covid crisis to go to waste -- stuart: but that would be inflationary. i don't care what your time frame is, surely that is inflationary. >> yeah. an ordinary budget, the last budget i wrote for president trump, for example, was about a trillion and a half dollars. yes, the government spend over $4 trillion a year, but what we budget is 1.5. so you're talking about 3, 3 and a half times what we spend in an ordinary career in these special -- year in these special programs. it's a huge, huge shock to the system, it's all debt, and it's all inflationary. stuart: i wish you had a different answer, but you don't. [laughter] finish i guess we've if the to take that one. i mean, we're in the middle of a very nice melt-up on the stock market. the last thing investors want to hear this inflation is here, and it ain't going away completely. it'll get worse if we spend another $3 trillion. that's not good news for the market, mick mulvaney. last word to you.

>> it is if you already own the assets, and that's why i keep -- i pull my hair out over democracies. they're -- democrats. they're crushing the poor. asset ises get more valuable. so here again the democrats say they're helping the poor and underprivileged when, actually, they're doing the exact opposite, and it was the previous administration that was helping people that needed it the most. stuart: mick mulvaney, please, do not be a stranger. we want to see you soon and have a great weekend. thank you, sir. >> thank you, stuart. stuart: we got this new survey, and it shows just how many workers will change jobs if they have to go back to the office full time. how many are we talking about? >> this is a whopping number, stuart. turns out people just will not give up zooming in their undies, 36% of employees said they would begin looking for another gig if their boss told them to return to the office. 6% said they'd walk out entirely. of course, all these workers are using this as a bargaining chip

to continue working at that job. if a person receives an offer of comparable pay and is allowed to work from home 2-3 days a week, 56% are likely to accept that job. the world's changed, stuart. stuart: it's a great place to be a worker. be a worker, please, because there's a whole bunch of money out there for you and a different job too. listen to this from white castle, all right? the burger people. desperate for workers, so desperate that they're calling applicants who applied four years ago to try to get 'em back to work. four years ago? >> so you're saying there's a chance, one of your favorite movies, dumb and dumber, right? jim carrey? whites castle e-mailing and texting applicants from as ms. as four years ago. many as four years ago. get this, stuart, 32,000 applicants were interested. i spoke to their vp of marketing

earlier this morning about this wilded idea. take a listen. >> we've literally given millions of people their first job, and now more than ever we need great people to come to the castle. so a lot of people were surprised to be contacted, as you might imagine. to be able to open back up, to invite people back in, we're willing to try just about anything because we want to have those people behind the counter who can make a difference. >> producers wanted me to ask you a question. stuart: yeah in. >> have you ever had white castle? stuart: in the distant past, yes. probably late at night. >> that's when you want 'em. a few pops in you? pops being beer, for those in the midwest. 32,000 said, sure, i'm ready, let's go. stuart: desperation. >> it's like when kramer goes back to the bagel shop. okay, you're not a seinfeld fan. stuart: and i still can't swim. [laughter] thank god thousands of bitcoin

atm are popping up across america. i didn't know that. i've not seen them. president biden offered a loan forgiveness program for farmers. the problem is it's only available to farmers who are minority farmers. james dunlap is a white farmer. he's stewing the administration -- suing the administration over this. he didn't get the money. he's here next. ♪ ♪

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♪ stuart: luke bryan, here's to the farmer. oh, a that's a good choice because we're going to deal with farmers in just a moment. eugene, oregon, beautiful day. it's going to hit 8ing 9

degrees. nice weather. the biden administration offered a mere $2 billion aid program to farmers. came with a catch, it was only offered to farmers of color. the administration is now facing a lawsuit. white farmers claim the program discriminates against them. james dunlap is a farmer in oregon, and he's part of the lawsuit. james, take me through this. have i got this right in you applied for this loan forgiveness program but you were refused because you were white. is that accurate? >> well, thanks for having me, varney. yeah, basically, we are ineligible strictly because of our race. stuart: you'd have to take out a few loans during the pandemic to keep your farm going, and you wanted those loans forgiven like they've been forgiven for other farmers, but you were refused, again, because you are white. so you tell me, what's the status of your suit right now? >> i am not 100% sure on how the suit is going. i don't really understand the

law side of it, but i know tried to put a stay on it. we're fighting that. there's multiple lawsuits throughout the country to the law firm that we're using, pacific legal foundation, has multiple lawsuits in several states. but -- and to clarify, it's not actually loans taken just because of covid. it's just farm loans in general that are being forgiven for socially-disadvantaged farmers and farmers of color. stuart: how much money are we talking about with your loans? >> personally, i've got over $150,000 in loan principal right now. they are going -- i mean, there's potential there for well over a million dollars to be forgiven. let's say a farmerred had taken a loan out in 2018, i think anything before january of 2020 qualified. so someone could have borrowed upwards of $1.8 million maybe from the federal government to buy a farm and to operate on,

and that could all be forgiven like that. just because of their race. stuart: that's not good, i understand that. but if you do not -- >> yeah. stuart: -- get your loan forgiven, are you, as a farmer, out of business? >> we're not out of business, but, you know, farming and ranching in general is incredibly hard. jfk said farmers are the only man that pay retail for everything, sell everything wholesale. farming's hard -- stuart: what do you want from the suit? you want the money. you want your loans forgiven. would you be happy if -- >> yeah. to have our loans forgiven would be life-changing. my wife and i both work full-time jobs off the farm to make things work, you know? we work all the time. i barely see my one-and-a-half-year-old daughter, and to have these loans forgiven, that debt service is eliminated would be one of those jobs.

we could actually have a family life -- [laughter] i could be home and see my kiddo, and it would be life-changing. and on top of covid, we've got a devastating drought in the west that i personally know farmers in our little valley that are probably going to go under. stuart: are you angry? >> i'm incredulous. i just can't believe it. i can't understand the racial discrimination like this. just the flagrant racial discrimination by the government we haven't seen since the '60s. and just because it happens to be towards white people doesn't make it any better. i don't understand. stuart: mr. dunlap, we're very much in sympathy with you, if that means anything, and is we hope and wish you the very best of luck. i hope you can come back and see us again soon, we'd like to see how this suit of yours is going. >> thank you for having me. stuart: see you soon. on a related note, farmers in

texas want the administration to add one more item to mr. biden's proposed spending list. what do they want? >> yeah, think of it how difficult it's to be a farmer, just in oregon, you obviously spoke with that individual, but imagine in texas. requesting restitution from the white house saying the damage caused the ranches and farms is pretty darn high. they point to cut fences, destroyed crops, compromised water sources, vandalism and litter. some texas republicans even introducing bills to try and to this. they're not very confident the white house is going to actually cover these costs. think about what you have to do there in oregon. think about all the costs and then add the problems at the border, folks. imagine the problems being a farmer or rancher down there. stuart: they deserve money. the federal government's problem -- >> i think at the end of the day they would settle for the problem going away, but the white house has not. shown any proclivity the get

that done. stuart: we're going to switch. suggests dramatic iically. we're going to crocs. do you wear them? >> all the time, stuart. my whole body's ensconced in them. i've never worn them in my life. stuart: they reported record revenue last quarter. what's behind their success? [laughter] i'm probably going to have to apologize to the man since i called crocs ugly. i will apologize. i'll make amends, how's that? first, though, crime so bad in san francisco that thieves are targeting tourists. we've got a report on that straight ahead. ♪ oh, i want something just like this. ♪ i want something just like this ♪♪ they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be.

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as businesses in florida recover from the pandemic, they now have to deal with another net which is red tide, toxic algae is. kills wildlife, gives you real respiratory problems. ashley webster is this in florida. ash, this red tide, it's a huge hit on tourism, isn't it? >> reporter: it really is. you know, if you look at me now, it's an idyllic picture. gulf of mexico lapping onto a white sand beach, beautiful warm water, the sun. but you know what? the picture is not full, as they say. this is the ugly truth. you mentioned the marine life that's being killed, and all up and down the coastline, miles in that direction, miles in that direction, we are just west of tampa, littered with with hundreds of thousands of dead fish. be thankful that you can't smell. in recent years these algae blooms have gotten worse and, as you say, stu, a big hit to businesses. always roughly around 20 million

a year is lost to tourism, people who don't want to witness this and deal with it. but are in 2018 that number jumped to 130 million and already this season again it's not great, is it not? would you want the hang out on the beach and be confronted with this? if i spoke to the owner of a local restaurant who said we know it happens every year, but it's frustrating because they can't find a cure for the red tide. take a listen. >> i think for me just with the advancements of technology and everything else that it's baffling that it's been around for as long as it is, and there still is not a concrete solution for it. but i do think that our leadership is doing their very best to try the mitigate the issue. >> reporter: but they haven't been able to cure it, stu. and you know on the gulf side this is the reality. already pinellas county, where i'm at, has scooped up 1300 tons of dead marine life. so for tourists, they may want

to go somewhere else, and it's bad news for businesses till trying to recover from covid. stu. stuart: you made your point, ashley. good stuff. thanks very much, see you again later. thieves are in san francisco are now if targeting tourists. claudia cowan is there. tell me more, claudia. >> reporter: good morning, stuart. we just saw a patrol officer drive by because, as you mentioned, at hot spots like fishermen's wharf visitors are coming back but so are criminals looking to steal their stuff. car break-ins are up. 700 incidents, more than this time last year, say police. concentrated around pier 39 as this woman discovered in may when she and her friends discovered when they returned to their rental car. >> the back window was completely shuttered, and my suitcase and my girlfriend's backpack was gone. >> reporter: this man fought back when a couple of guys tried

to drive off with his backpack. during san francisco 15-month shutdown, the economy suffered a devastating blow. the upticking in smash and grabs has the mayor doing damage control. >> when we talk about the burglaries and car break-ins, at least 1,000 every single month perpetrated by ten groups of people. so when those folks are arrested, we see those car break-ins go down significantly. >> reporter: maybe so, but critics argue if the same people are always arrested, a tougher a approach is needed. the police chief wants to hire 400 more officers and beef up patrol ifings around tourist -- patrols around tourist areas. now, most of the city's attractions are open, but some is experts say it could be 2024 by the time san francisco's

tourism industry fully rebounds and only then if visitors feel like they and their car are safe. stuart? stuart: well said, claudia. thank you very much. now, the mayor of portland, oregon, planning a welcome back festival after a year of violent riots. i'll bet he's getting some backlash on that. >> yeah. it goes deeper than that. if there's one time-tested way to come back from a year of violence and riots, the it's roller skating says portland mayor ted wheeler and literally no one else ever. will include free concerts, pop-up markets, sing-alongs, light displays and, of course, roller skating, stuart's favorite. critics of wheeler's tweet. who's providing armed security, and imagine being this disconnected from reality. i don't get this, stuart. all the people want is to be safe. all these shenanigans are irrelevant. put some cops out there, make people feel protected, they'll come back to your city. that goes for literally

everywhere. stuart: i think the mayor has burnt his boat. that's my opinion. by the way, todd, it was great to have you on the show. you've been with us the whole hour. this young man starts workweek days at 4 a.m. that's when he's on the air. it's called "fox & friends" first on the fox news channel, todd piro coanchors it. i don't know how you do it. >> i love it, and whenever you do that, i say one of these days we're getting you on. it's going to happen, america. stuart: any day now. thanks, solid. >> thank you. stuart: still ahead, sean duffy, david bahnsen and the ceo of crocs, that's andrew rees. ♪ through your hands up to the -- throe your hands up to the sky -- throw your hands up to the sky ♪♪ this is andy, my schwab financial consultant. here's andy listening to my goals and making plans. this is us talking tax-smart investing, managing risk,

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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 >> reporter: it is on growth, that is what is leading up the parts. >> we see business travel pick up. and by the 1980s. it brought the economy to its knees.

the market does seem unstoppable. the canary in the coal mine, the early warning, when it drops the market will drop. we ♪♪ stuart: it is 11:00 am, on friday july 20 third. i want to show you the stock market. well above the 35,000 level. it closed at 35 and 36. same with the s&p, that is a new high, the nasdaq is 14,747, up half of one%. rallies across the board including big tech. look at that bunch go. microsoft up 239. alphabet, apple, amazon, facebook is up $16, that is a

rally and a half. the 10 year treasury yield, one.29%. now this. all this week we've been showing you thousands of migrants pouring across the open border and we reported a 900% surge in covid cases among those migrants, today the news is this, the delta very and has taken over, new cases are rising in the white house is considering the return of a mask mandate. don't you think there is something of a contradiction here? on one hand the biden team does nothing about the covid positive migrant surge at the border, in fact they are shipping them around the country no matter who they are what their virus status might be. congressman hawthorne told marie on this network that he flew on a planeload of migrants flying to a city of their choice at your expense. the border is a superspreader, and the border is open because the biden team wants it that

way. on the other hand the administration seems intent on telling americans, telling americans what to do to control virus. they made no decision on a nationwide mask mandate but they are looking at it. they want young american children to back to school in a mask because the cdc called delta one of the most contagious respiratory viruses ever. they will control you, they will control your children that they won't control the border, they won't tell you a bus load a planeload of migrants is on its way to your town. on covid at the border this administration is floundering. the third hour of "varney and company" just getting started. ♪♪ sean duffy, covid cases up 900% of the white house with

them all in. when if ever does this stop? >> don't think it does because the media won't will be administration accountable. voters hate allying government. there is a massive reaction, when republicans take over the house in a year and a half. to think the delta very and spreading across the country, we may have shutdowns and mask mandates, open border and shipping people around the country potentially with the delta variant you've got to be kidding me and president biden was on the cnn townhall intentions 12 years and other, who can't get a vaccine will have to be masked, newsflash, science, kids don't get sick from covid. they are not dying from covid and not spreading covid to vaccinated teachers. to vaccinate our kids is absolutely idiotic and when parents look at the border

policy, and that they will mask their kids they are going to be outraged no matter left right or center, this makes parents mad. >> jen psaki insists the administration is not pushing critical race.. >> the education department admits they made a mistake in the guidance free opening. >> what you are referring to is a citation in a report of which there were thousand citations, we don't dictator recommends decisions from the federal government. >> let's be clear. the education department distance itself, that looked to me by a face-saving operation by the white house, not any mission of what they are really doing. >> >> this racist radical group,

they made a recommendation, for school to be reopen and impose the radical teaching doctrine, you see big tech do this and the white house, we are going to walk it back. peter doocy went if this is a mistake are you going to inform 10,000 schools that they should not use this radical racist curriculum in our schools and jen psaki brushed it off. good for fox and peter doocy for promoting this racist radical agenda. stuart: we like when you straighten things out for us and that is what you just did. and and the rally continues to move ahead. the gain for the nasdaq, solid

gain for the s&p as well. we need david larson, looks to me like this is a summer melt up led by big tech. would you agree with that analysis? >> know, i would not, if you look at the overall market, that brings back a broader penetration, most of the year big tech was lagging the market, big tech started bleeding again about a month ago, a nice period this summer. coming off the monday drop we saw a big recovery against most sectors of the market, not all those names are acting the same. some are doing well and some okay and some poorly. i think it is a broad market doing quite well right now. stuart: is it a melt up? is that fair to use that expression?

>> to the extent that a melt up means a bubble that ends up bursting, i don't think we are there yet but everything going up together and i am concerned as i have been for some time that you will get a melt up doesn't end well, some of the more speculative parts of the market. stuart: it is a lot of fun on the way up. granted there is a way down at some point but on the way up you have a lot of fun or at least i am. we love the dividend plays that you give us. you give us stocks that pay a high dividend and the rising dividends. i noticed the first on your list today is ibm. tell me about the dividend. >> hopefully you heard something this week because they released earnings, they had a great quarter but the best revenue growth they had in ten years. they also finally put together a couple quarters back to back of revenue growth, they paid a lot of money trying to get a

growth catalyst in their hybrid cloud business, you're getting a 4.7% dividend yield from ibm because they have all these legacy businesses, they kickoff $12 billion of free cash flow this year, that is their target this year that they are going to hit and then they have more exciting business with the cloud, red hat acquisition so we really like this story a lot. stuart: it is $140 a share. h&r block is on the screen as well. what is there dividends? >> 4.5%, they are able to protect the dividend because it is a big cash flow generating business. it doesn't take a lot of capital to continue running the business. it is service-oriented. they made some acquisitions in the past years ago that didn't work out well, and blue a lot of shareholder money, new management, new philosophies. we entered the stock this year and added to our positions this

week, big 4 and a half% yield and it is very sustainable. >> i want to thank you one more time for getting me into blackstone which this morning is 110, $112 a share. thank you. i owe you big time. >> you brought it up on air a few times so thank you for bringing it up because people are calling me wanting me to do the same for that i did for you and i don't know if lightning strikes twice but this has been a great stocks, great company and it speaks to the health of the american economy so action in private equity investing in good business. stuart: thank you very much, see you again soon. have a great weekend. look who is here. susan lee, how are you doing? i'm looking at the prompter and it says boston beer down 24 points. >> a big drop, 25% of its value

in a single session and weaker demands for the self-serve brand, and goldman downgrading the stock because of those disappointing results, 875 according to goldman. maybe not as bullish as before, look at starbucks hitting an upgrade today, $142, because of the easy comparison to last year. stuart: social media, that is your area, not mine. >> you can talk about that all morning long. stuart: i will let other people do the talking for me. >> a record high this morning not because of the greater earnings which we had in the second quarter but the guidance forward for the summertime, the third quarter we are in and a high tide lifts all boats. look at the entire social media sector, not just facebook, pinterest, lift, facebook rolling out earnings next

weekend if snapping twitter did great i bet facebook would do amazing next week dominating social media. stuart: look at it go up $14 at $3.66. >> and spending recovery after covid, will probably be -- stuart: what a story. thank you very much, great start for the 11:00 hour. after more than 100 years the cleveland indians are changing their name to guardians. they just released their new logo and we will show to you. shoppers are panic buying at grocery stores in britain. that comes as hundreds of thousands of people are told to stay home. that crazy ping apps they have over there. i called the shoes ugly yesterday, the ceo is here today, i've got to apologies. we will be back.

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♪♪ stuart: oh really? that is -- trained she beautiful, the statue of liberty, 70 degrees and sunny, nice day. put this on the screen, the stock, the shoe guys had

blockbuster earnings, revenue up 90% year-over-year, not a great comparison with the pandemic year but doing well. andrew reese, the ceo, joined me now. you have been warned. i'm going to apologize to you. i find these shoes ugly. maybe that is a strong word but not to my fashion taste. will you accept the recovery? >> we accept the apology. a big part of our brand is the bifurcating nature of it. some people of it and some people hate it and that is good, it creates a tension. stuart: before we go further, you have an accent. where is that from? >> the uk. i grew up in the northwest of england. stuart: welcome to america. you are doing really well. it seems to me the success of crocs is not dependent upon but

enhanced by all these celebrities that wear your shoes. i wouldn't have thought crocs were a fashion statement that maybe celebrities make a fashion statement, you can't do without it. >> they really help. a big part of that program and many other things is the collaboration, a picture, and a significant number of collaboration, collaborate with a brand in the uk, in south korea, in russia. a broad range of collaboration, sometimes a celebrity or well-known brand with a passionate following a great

deal of energy and buzz, brings the consumers of those brands into our brands. stuart: any plans to expand outside shoes? >> limited. whether they are clogs or sandals or crocs at work, working on the front lines. the last time i was with you, struggling to get them through but that is an incredible business, allows the consumer to personalize their shoes, it is an individual budget so the emotional connectivity is important, launching stock later this month but we are centered around shoes and shoe accessories. up to billion-dollar companies this year.

the 600 billion-dollar business. stuart: a big question we asked around the newsroom, it is not rubber or plastic. what is it? >> is proprietary, what it allows us to do. one of the tricks about comfort is getting the right barometer which is both squishy and as of the shoe. it is carrying at the end of the day. petrochemical inputs. what they announced this week, carbon neutral.

resource those raw materials that go into that shoe from sustainable resources, we are doing development work with a major company to the rival a lot of those inputs. taking a very low carbon footprint, 3.94 kilograms. make it even less. stuart: you make a great case, such a great case that one of my granddaughters texted me saying i am buying you a pair of crocs. >> can i interrupt? andrew just mentioned crocs socks, someone that also exhibited this trend in the past is stuart varney. look at that. there we go. the sandals, in the yards. stuart: that is a picture of me

wearing socks and sandals. the late great imus got hold of it and ran it picture forever and i have been made a laughingstock there on out. >> it is really hit now, don't worry about it. stuart: get out of here. come and see us again. thank you. >> fashion plate stew, great. stuart: the cleveland indians are now the guardians. and they got a load go? >> cleveland guardians, it says the cleveland indians. i will show you the logo. criticizes racially offensive. nevermind, the cleveland

guardian, where does this name come from? a reference to the art deco statute along the laurion carnegie bridge in ohio. they are known as the guardians of traffic but not just baseball, nfl, washington redskins, they had position to change the cherokee brand. the guardian. stuart: is not the guardians. it is guardian. cleveland guardians. the definitive article is left out. >> you are fuming over that. >> we have more for you. there is a warning for nfl teams that have unvaccinated player, the celtic serious stuff. >> it is the first team, going about it in a different way, if

unvaccinated players -- the entire team does not get paid and that is how you hurt them for multimillionaires. if the game is postponed because the club cannot play among resulting from vaccinated player staff the burden of cancellation or delay will fall on the club. no money from people in the stands, do you think they will pay the players because the outbreak? certainly not. they are instituting. pressure, you will cause me to lose a paycheck for week. it is essential paycheck. >> this enormous pushback on this. there have to be players saying ain't going to get that vaccine. >> if you look at the nfl staff, 32 teams, 50%

vaccination rate. if you want pressure and scenes asking them to get the jab players might. stuart: we will see how that shakes out. the airline stocks, the tsa released the latest checkpoint numbers. airport crowds with three times bigger than the same day last year. not a great comparison and see how they stack up with 2019 and we have those numbers for you. patel all memoir, we talked or royal watcher about that. we will be back. ♪♪ ♪♪ a little respect ♪♪ ♪

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lax, not one of my favorite airports, the airlines are not out of the woods yet as the song implies. 2.1 million travelers passed through tsa checkpoints, triple the number of people on the same day last year but still

not back to the number we were on in 2019. airline stocks, american airlines high, most of the rest not on the downside. the uk's official health apps dubbed ping -- told hundreds of thousands of people they were exposed to covid so they've got to stay home and it is chaos. >> hundreds of thousands of people having to stay home for 10 days so what did they do? they run to fill up their gas tank, gas tanks, it is a british story and they go to stock up the shelves so it is a rush on the supermarkets. bear shelves and bp saying the vast majority of shortages are hopefully being resolved at this point, supermarket chains that they sell there and am sort of treat, and they are

saying they are running very very low. stuart is no such that each >> they infiltrated the market after you left. but the apps is called ping, not only are people running to stockpile but workers stay home as well so they are short on staff. stuart: just a little apps on your phone. moving on been staying in britain. prince harry reportedly made $20 million for his tell all memoir. a british royals commentator joins us now. my reaction is pure discussed. can you tell me what the reaction has been in england? >> please don't shoot the messenger, something to make

you more disgusted, prince harry will give all the money to charity and he says all the proceeds, he pocketed the 20 million advance, he's going to donate the proceeds if it makes more than $20 million so he is going to be paying a ghost writer so it will be more than $20 million. the reaction in the uk is in good. many may recall it was the prime minister and advisor to queen victoria, the former british prime minister who once advised and never complains. he's complaining and explaining because what will they do? pay $20 million for what we already know? back in 2017 he was on channel 4 interviewing his father prince charles and praising his father for how advanced his thinking was in terms of global warming and many other things and how he admired and respected him.

he has changed his tone quite a bit. whose truth is this going to be? his current truth, previous truth and which truth? if we see them play out he's got to come up with some dirt, don't pay $29 for things we already know. stuart: can he go back? of course he can but what is the reaction if he gets there? >> very good question. he requested his daughter be christened at st. george's chapel in windsor, returning to the uk and talks but they were invited by the magnanimous queen to attend her platinum jubilee next june in their condition is to be on the balcony. to your point, many in the uk pharaoh there would be scenes of blueing even if it wasn't for him but a certain other person he happens to be married to. stuart: i would go back and

blue poster for us we if i had a chance. there is another issue here. the uk and freedom day. the report of thousands to stay home because of this apps. what is the mood at the moment. >> filling up their cars with pedro as it is called in the uk, the mood is one of frustration, freedom day and boris johnson had to self isolate, that is because they are in contact ironically with the health minister who tested positive. the dissolution and australia, you may notice because of your relatives, they went into lockdown, that is anticipated within the uk. what there has been frustration

about were private family events, only 15 were allowed when they witnessed over 64,000 for the euros. the bottom line has come down to follow the money. every single stock that has done well during these lockdown periods, there was money to be made during the euro but what it has done is exacerbated those testing positive because most happen to be male. fine r subjects, i hope to see you again under more pleasant circumstances. stuart: i've got a story on walmart. it is a very good story. they are offering free health screenings to customers around the world. it is only available tomorrow. the stock is up. >> only available tomorrow, one day only? stuart: who am i to contradict the script?

show me pfizer, it reached $41 a share. a new study that says waiting longer to get your second dose produces more antibodies. the report says waiting eight weeks to get your second shot had better results than if you wait 3 or 4 weeks. pfizer stock made it above $40 a share, 4168 right now. a job application handwritten by steve jobs up for auction. there is a physical copy and nft. we will tell you which one is selling for more. that is a good story. bitcoin atm could be coming to a neighborhood near you. which convenience stores installing thousands of these crypto kiosks. ♪♪ left right up down ♪♪

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stuart: capitol hill beautiful morning, 87 degrees later. nice day there and then we have inflation very much in the news and edward lawrence is here to cover it for us. tell me which areas are seeing the most marked level of inflation, the kind of thing i am going to be subject to. >> your washing machine is a big one, rental cars is another big one, we will get into that in a second and it is a little humid in washington dc, temperature may be good but the inflation is heating things up, wages have been going up and people have that government check, they feel more wealthy until they go to the store and then everything looks a little more expensive. look at travel prices, gas prices 46.4%, airfare up 24% of the past 12 months in the big number there rental car and truck prices up 87.7% in the

past 12 months and here is why. >> rental car agencies needed cash, they didn't have people renting their cars and they had no way of knowing they were being a shortage of new cars to ensue because they made the assumption we can buy as many cars as we need when we come out of this. >> this inflation is all due to the reopening plus the government stimulus, stimulus checks and child tax credit boosting inflation a little bit harder. you been to the grocery store, some of the grocery prices of really got up year over year, fresh seafood 6.4% year-over-year, whole milk up 74.5%, bacon up 8.5% of everything is better with bacon from the white house perspective this is due to a surge in demand and supply crunch that created it. once that so everything will settle. other economists are saying the government spending is pushing

this demand higher, then you add in the federal reserve which increased its balance sheet 18% over the past 12 months and then much more than that for the year before that, that is a wash with money through the system creating these inflation pressures, some for district presidents are now saying we will see inflation well into next year. stuart: i'm watching for it, thank you very much. bacon is better with everything, everything is better with bacon. thank you very much. how about this? the retail chain circle k bringing bitcoin vending machines to thousands of locations in the us and canada. these machines buy or sell crypto in stores using debit or credit card. bitcoin is down a fraction, 32,300. amazon, here's news, they are getting into the crypto world. >> they posted a job for digital currency and block

chain product lead on its website. the talk of the crypto world shows there is potential crypto integration on the world's largest e-commerce shopping site so the new amazon position will be an amazon payment which makes sense because you could use bitcoin or other cryptos to buy your toilet paper on amazon.com. apple also posted jobs for crypto and what this tells us is when big tech giants like apple and amazon get into crypto, virtually every company looking to explore crypto, it is here to stay, it's not going away. i don't think it is going away at all and will only grow from here. stuart: what is this about steve jobs and and nft? >> steve jobs, handwritten job application when he was 17 or 18 so this would go back to 1973, a piece of paper that he signed. it is really funny because when it asked for his phone number he said none.

the founder of the iphone who changed the world the last 15 years, paper version and digital, not a token version of the job application, you're going to ask. stuart: which goes for the most money? >> which do you think? stuart: i would go to the paper copy. because i'm old. >> it makes sense because you can use the paper copy and make and nft out of it. you can make another nft. stuart: there is another -- >> right now i'm looking for what i see on the website, the paper version is going for twice the amount as the nft but last time a paper version sold they got it for 224,$000 so there's a lot of bidding to go. stuart: i'm glad to see old-fashioned guys like myself can still -- >> papers worth more. stuart: right. more on the nft business. tom brady expanding his business. >> we will see these a billionaire in the future maybe

possibly likely. he is a big crypto believer and launched to the nft studio making crypto collectibles, helping them sell them. we add a slew of big-name athletes to the advisory board, big names like tiger woods, wayne gretzky, derek jeter and signed a deal with hollywood's lie and's gate, they are in conjunction with the studio. twilight, hunger games, these are multibillion-dollar franchises. he also signed a deal with the richest crypto billionaire on the planet, 29-year-old, fts which is the fastest growing crypto exchange in the world so he gets an equity stake in that. imagine all those business ventures together. stuart: brady is a very smart guy and i think you are right, he could be a billionaire one

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stuart: if any of our guys engage in public political protests they will embellish their fellow athletes in our country. it is a request to show some respect, respect for your country which got you into the olympics in the first place. that was my take on the olympic protests and i asked you to send in your thoughts on that issue and boy did you deliver. we will read some of your responses in a moment but first let's bring in susan and lauren so we can get started with friday feedback. the first comes from g riley. i predict tokyo 2020 will be one of the lowest rated ever as american taxpayers are

disgusted with woke athletes emboldened by this administration but i agree the ratings will be very weak. are you watching? >> regardless of politics these athletes of sacrificed the last 5 years of training for the so i'm definitely watching. stuart: what about you? lauren: i will definitely watch and the sports of the greatness of them will drown out the criticism. stuart: i agree 100%. robert miller says this. i too will route against any of our olympic teams or individual athletes who disrespect our wonderful flag and country on the national stage, no doubt other countries are laughing at us. i would not route against america. i would simply ask american athletes to respect our country. >> i agree. do it somewhere else, not international soil when wearing the american flag. lauren: the greatest honor to represent our country and if you think america needs to be improved go live in one of

those other countries that are having problems and then come back and let us know how you feel. stuart: we wrapped that up rather nicely without getting too hot under the collar as i was about to do. other emails covering different subject, this comes to us from scott lsb. what did you find with the hardest part of working remotely during the pandemic? you are first. you have children. >> i took a picture of this, documented. i went not only in my closet, i went behind the clothing rack and sat in the dark and was huddled and using a light on my phone to read and do things because my kids would go looking for me and open all the doors in the house including my closet door so if i had behind the clothing rack they wouldn't find me. it was that bad. >> i didn't work remotely. i'm a privacy freak. i don't like a live microphone. stuart: i understand.

i'm quite with you on that. valery writes this. your patriotism is a refreshing maybe you should consider a run for congress or governor. sorry, not a prayer. i'm not a politician. i could not get people to agree and form a compromise. i simply lose my temper. would you run for office? >> not worth it. you are sacrificing a lot and not getting much in return. stuart: lauren? lauren: i would run for office. i'm not saying i am. why not? i'm a people person. stuart: that is true unlike myself. helen, do we have time? yes we do. we don't have time for helen but we will tell you this, thanks for sending in your feedback. it is now time for friday trivia question. i have not a clue. which planet is the only planet to rotate clockwise? not a clue. have you?

>> it is number 2. stuart: is it? okay. - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do consulting, but we also write. [szasz] we take care of ourselves constantly; it's important. we walk three to five times a week, a couple miles at a time. - we've both been taking prevagen for a little more than 11 years now. after about 30 days of taking it, we noticed clarity that we didn't notice before. - it's still helping me. i still notice a difference. prevagen. healthier brain. better life.

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♪ stuart: before the break we were just chatting away here, i didn't realize i was back on the air. what is the only planet that rotates clockwise? the answer, venus. [laughter] all other planets rotate around the sun in a counter-clockwise direction. now, why is it only venus that goes clockwise?

the answer, apparently, is because venus has an extremely dense atmosphere, and that affects its rotation. didn't you say the earth, lauren? was that your guess? >> oh, i just picked any number, but, yes, it was. i owned up to that. stuart: i just lost audio -- [laughter] >> why wasn't your ray us in up there as a funny selection? [laughter] stuart: fortunately, my time is up, but, neil, it's all yours now, lad. neil: look at the time. [laughter] thanks, guys, very, very much we are focusing on things here on earth and this whole virus that's spread right now, but there's a back and forth what to do about it and the spikes in cases. you've heard what's going on in los angeles county where masks are being required for those whether you've been vaccinated or not. it's spreading to places in massachusetts, a number of municipalities looking at doing the same thing. so a lot of folks who are vaccinated asking why did i