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tv   Varney Company  FOX Business  July 27, 2021 9:00am-12:00pm EDT

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dagen: stuart, it is all yours. stuart: good morning, everyone. the profits reported by america's corporations are spectacular, expectations blood away. we get the numbers from the $3 trillion tech giants, the big record earnings reveal, premarket holding on to those gains. the absolute blowout numbers
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today, tesla reported late yesterday and it was a starr report. the revenue doubled and its $1 billion profit nearly doubled what analysts expected, to up one.3%. new high on the downside but not by much. look at that, a fractional gain. the today meeting begins today, jay powell hold a news conference and investors want to know when the money printing will swing down was the answer will make a big difference of a 401(k). time to look at all the cryptos. amazon has denied it has plans to allow the use of bitcoin. it came from london and moved
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to the 40,$000 level, notice back to 38 and change and it is a significant push to mandate vaccinations. 2 billion healthcare workers will be required to get inoculated. 300,000 city workers, must be vaccinated by september 13th. we have this. in oakland, california, former democrat senator barbara boxer was assaulted in broad daylight, she was shoved hard at her cell phone was stolen. just last week oakland's democrat run city council voted 7-numtwo to take more money out of the local police budget. really dramatic developed at the politics. simon is sidelined by an injury, a mental issue may also be involved.
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number 2 in the world, she lost to a player ranked 40 second. the women's soccer team squeaked through with the goalless draw of australia. you will see this tuesday july 20 seventh 2021. "varney and company" is about to begin. ♪♪ stuart: back to speed on the olympics. simon biles is out, the team competition, the every favorite, due to a medical issue performing on the vault when she withdrew. one of the coaches told nbc
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physically she is fine but she's done for tonight. biles is eligible for the all round title thursday and the individual competitions that follow. we learned the us women's team took silver, russia wins gold. we bring you more news on this as it breaks. some high drama and this is breaking, home prices surged 17% compared to may of this year, the biggest gain since august of 2004. according to case shiller, phoenix, san diego, seattle reported the highest year-over-year gains. let's go back to bitcoin. back to 38,400 this morning. it did cross the 40,000 mark earlier today.
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this is you. it is down to 38,000 because amazon said no. >> is ordinary for amazon to be so direct that it wouldn't be accepting bitcoin but they caveat they wouldn't accept the corner cryptos painted this year, not that they won't do it in the future. i argue it was in the amazon story that rally crypto over the weekend because i told you about the job posting that spurts the collation of crypto payments, that came out friday morning, that rally didn't happen until saturday night and people see it as a short squeeze, they were predicting bitcoin will be on the 20,000 somewhere. instead you had the rally heading into the weekend, more people coming in. stuart: back to 38,000 as it is, not much of a selloff. up there compared to friday.
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>> maybe we had the stabilization, plateauing as we call it. stuart: we have earnings out this morning was hope they are as good as the other earnings we've been getting because the rest of them are not so spectacular, start with 3m but stock is down. >> scott statemaker coming out better than wall street forecast. might be some lightness and softness when it comes to guidance but ge, the cash flow for the quarter, the grandpa stock -- stuart: my grandfather's stock. >> the top and bottom lines, the fact that there are cash flow positive because all the cost savings they are doing, turning the company around, really helping lift the bottom line. stuart: tell me about my new favorite airline. >> are you getting endorsement dollars? stuart: tell me about jetblue.
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>> i was looking at the load factors, 80%, they are almost back to pre-covid levels, recovery remains solid and business travel will prove after labor day, the high-margin business flyers public offers over an airline. stuart: not necessarily jetblue. there is no first-class on jetblue. >> that is a problem? stuart: you take first-class. >> if it will fly places you want to be that the most important part. stuart: show me ups, stock is down 7%. what happened? >> domestic sales, a bit shy, given we are in this e-commerce boom where you are ordering online, that was a disappointment, still a fantastic order. stuart: a were not spectacular earnings reports.
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>> high expectations when they make adjustments with apple and microsoft, expectations are high on wall street and they will come out and crush estimates later on. because they are making so much money. a lot of business is done in the cloud online. that is what wall street is betting. stuart: 9:070 sent time susan lee said it will be a blowout quarter for apple, google and microsoft. i will watch. check futures. overall the big picture, here is how we are going to the wall street open on the downside but not by much, luke lloyd is with us. i read your stuff and you are saying, quote, to put it bluntly the market isn't attractive here. what do you do? let it ride out? >> it is not attractive.
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valuations are so skyhigh we are trading two standard deviations so everything is pricey. everybody continues to hit home runs and the stocks they pick, they swing the defense all the time. the problem with that, i don't know if you played baseball but i've played baseball my entire life. you strike out a lot. i say those investors should wait for the pitch to come back and then knock it out of the park. 360 companies reporting earnings in the russell 1000, 36% of companies. you want to dig deep on the financials, find the winners into 2022. this is where you leverage data. no one has a crystal ball. they need data to be proactive and be active in management, that's where you will add value
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to your portfolio. you can't just own an index fund. stuart: you spoke at a leadership conference for young investors last weekend i'm told you addressed a group of 10 to 14-year-olds about bitcoin and all of them knew about bitcoin. is that right? >> yes. i had a lot of questions after i spoke from the students about how you should big investments from the future and identify trends earlier in the earlier you get into them the better you will do. i talked about artificial intelligence, cloud computing and technology. when i mentioned bitcoin all of them jumped out of their seats. they all knew what the coin was and talked to parents about buying bitcoin. these kids want to innovate, find processes and make things better, they will revolutionize the world over the next 20 or 30 years.
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that tells me bitcoin is here to stay. stuart: i agree with that, bitcoin is here to stay. it's not going to disappear. thank you very much. let's have a look at tesla. they had a strong earnings report late yesterday, stock is up 0.8%. >> does that surprise you? a quarter, $1 billion in profits and stock is only up 0.8%. it is a great question i agree with you on. it was all bullish in the earnings report, predicting 50% bump in delivery, the only caveat might be the chip and parts shortage which you are it is a big concern and the delay intends the. stuart: the berlin factory is not doing well. stuart:
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>> he expects it to come online and cyber trucks should go into production this year but you have to take everything you one musk says in terms of timelines with a grain of salt. here is what i wanted to show you. price-to-earnings, this is how we value stock, at 103. stuart: that is up there. check futures please. on tuesday morning, we are going down but only slightly. look at the big tech names are after the closing bell. all of them on the upside before we get those results. turns out hunter biden's art dealer has long-standing ties to china. sounds like a joke but it is not. laura trump tackles that later in the show. ♪♪
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stay in the home and life you've built for years to come. call 1-800-986-5068 to receive fifteen-hundred dollars off your kohler walk-in bath. and take advantage of our special offer of no payments for eighteen months. stuart: denver. futures, not much price change although the dow will be done 100 points. big tech, google, apple, microsoft in particular are the ones that will be reporting later this afternoon. i want to take these one at a time.
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what should we look for? >> we see that recovering snapback, they will do very well. cloud, for the first time in their history, should be a growth factor. anything else? >> a 34,$000 iphone, services, the cloud that you pay for, music, if you think about the margin $73 billion in sales for apple predicting a record quarter for profits at $17 billion. a 20% margin for the world's biggest company. stuart: microsoft has to be another cloud thing.
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>> the cloud, looking for growth rates of 45%. what does it say about the pentagon and the jedi project and doomed during covid. stuart: isn't it fascinating, moving up before we get the numbers. >> people expect they will come out and crush what estimates are. stuart: quite an event. >> big tech will get bigger. stuart: greg smith. i know what you are saying. if you want big tech you keep it no matter the earnings report. am i right in saying that. >> show time for big tech, what
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investors have to consider, regardless of the price action we witnessed this week, no better place to be for long-term equity investor. it will deliver growth and they are defensive. look at a few different things. if last week's earnings report, a harbinger of things to come, that bodes well for google and facebook. we saw a big uptick, things come there. another thing to look at in the first half of this year, it was invested in venture capital deals. think about where the money is going to these startups. they are engaging companies like amazon for storage, facebook ads, google ads. they will make their way back into big tech.
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stuart: looking at that, does it go to $300 a share in relatively short order? at 289? >> i don't know microsoft, circular trends, the labor shortage, tech spending increases. we will start to witness a decline in the growth rate of the population age 16 to 64 and we will see that turn negative by 2060, with labor shortages in here come the millennials, the first all digital generation. this will propel tech spend, developing new products and services we want.
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stuart: later in the week $37 a share, lots of people tell me it will go to $4,000 a share. when will it get there? >> i of those people. on august 3rd i gave you a price target of 4000 on amazon. i continue to be bullish, last summer i shared it with you, just walk around the streets of any city and you see the tidal wave of packages. i might change on top of a phallic shaped burning call with liquid oxygen and blast themselves to the moon, very confident individual. that person must feel good about their business and that bodes well for the numbers.
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stuart: notes to viewers, greg is referring to the rocket jeff bezos took off in. thanks very much. futures slipping further south. dow industrials down 100 points. we will take it to wall street after this. ♪♪ when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web.
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stuart: before we open the market susan has been looking at other companies the report after the bell. >> this is an $84 stock. for the past year during covid it underperformed because it had a peak of 50% on the recent peak. stuart: it is back to 150. >> because of the guilds. they have to prove the acquisition is working for them. emd looking for tripling profit
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with the data center chip. stuart: it is coming up with triple profit, double profit. >> think of the chip shortage, amd is struggling with its new generation chips. stuart: i hate to slow things down but we are to talk about the federal reserve. not that it is a boring story but the fed meets today, jay powell hold a news conference tomorrow afternoon and you say we are moving closer to the point where the federal reserve rains in the money printing. when the taper arrives we are moving closer to that point. >> they are going to discuss it
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specifically and talk about what they are going to do. powell will have to give us details and i suspect he will say they're moving towards the mortgage-backed securities. makes no sense to buy $40 million a month for mortgage-backed securities in the housing market. stuart: if you are right would that be a negative for the stock market? >> hard to keep a good market down. they tried to do that monday and a lot of concerns the delta variant of the covid virus would create problems for the economy and we go back to record high territory. the latest earnings numbers for the second quarter suggest we are up 70% on a year-over-year basis before earnings season
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goes to 50%. stuart: i've never seen anything like that before. ever seen anything like this before? >> it does happen you get your biggest earnings comparisons coming out of recession but -- stuart: wait until this afternoon when those big tech companies. almost starting to trade and we are up and running. it is down 170 points. i agree most of the dow 30 were in the red, that gives you a sense of the market, the s&p is down one third of one%, the nasdaq is on the downside not by much but less then a 12:45%.
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not much price movement in the early going. microsoft report after the closing bell they are actively traded on the upside, google reports they are up 3 bucks already. look at tesla. they are up 0.68%, 662 but more news on them. >> most of them are bullish, wedbush reiterating his $1,000 per share, wells fargo with 660. i'm disappointed by the stock performance after a monster quarter, it is a record quarter. we've never seen them make that much money and some will be delayed but berlin should come
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online this year, cyber trucks should roll off of the production line and they will grow production and delivery by 50%. stuart: they are up $8. >> down 20% from the $900 peak in january. stuart: you've got to explain something. the continuing fall in chinese stocks across the board. is there a new regulatory crackdown in china? >> investors concerned about whether there trying to cut off their nose to spite their face. the hong kong tech index at a record low. china was crushed last night and that translate into money, it is all international and in one part of the world flows over to america as well. kathy would of our investment selling off holdings and the like. look at ali baba, 185, the
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worst wipeout we've seen since 2008. stuart: they want to control capital and information. >> also control and dominance of technology. stuart: advanced auto parts. we are running this because it is up one%. investment company raymond james upgraded them saying they are strong by. they expect the target price they have a target price of $250 a share at $2.17 right now. guggenheim made a bullish call on the restaurant sector as a whole. break it down for us. >> a lot of analysts expect the bullish report card. guggenheim seeing starbucks rated as a neutral to them. the initiated or john the restaurant sector.
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this recovery and restaurant reopening, another is yum brands which operates taco bell. don't know if you ever partake in their lovely features. yum brand is 135, chip only is neutral. stuart: i've got to go to chipotle. >> love wendy's. you love wendy's too. stuart: i'm a fast food kind of guy. my daughter is taking me to pursue -- >> expensive quach and beans. stuart: i am paying. look at the dow winners. look at this. the top performing dow winners. mcdonald's, procter & gamble, the s&p headed by fs networks, universal health, general electric, pretty good earnings
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report, $13 a share. nasdaq winners report today. the big one is farther up 3.8%. serious xm satellite radio, satellite radio people up 4.7%. second quarter profits nearly double from a year ago. they added subscribers, up goes the stock. intel plans to release a new chip every year between now and 2025, that's a multiyear plan. they want to bring back lost market share. they lost to the semi conductors of the world and they are down 2.85%. >> what i'm trying to figure out is somebody will ask apple, google or microsoft about the balance sheet, $200 billion for apple. do they own or plan to mimic
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what tesla didn't to buy bitcoin? stuart: somebody will ask and depending on the answer watch out for bitcoin and the cryptos. the slightest positive answer they go up. >> if corporations and businesses allocate 5% you can see bitcoin close to 100,$000 per coin. 5% of corporations allocated has to crypto. stuart: you might have moved the market. check the big board. we are down 180. the level is 34,955. the 10 year treasury yield, one.23%. a lot of lollygagging around. price of gold -- not doing -- >> is that a british term? >> pure american. >> ge has done well.
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get very upset -- they did very well at the olympics. stuart: the brits, long strong in athletics these days. the price of gold is $1,800 an ounce, crude oil $72 a barrel, gas is $3.16. the governor of new york andrew cuomo taking a victory lap. the justice department dropped their investigation into nursing home deaths. role tape. >> it was toxic politics. it violated the basic concepts of justice in this nation and it did a lot of harm and a lot of damage. stuart: the new york post is never shy when it comes to telling how they really feel. look at today's cover, liar, new yorker, sound off on that in our next hour.
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vaccine mandates coming for some workers, mask mandate coming back in several states. will the slowdown the economy? i will ask larry kudlow who joins us next. ♪♪ liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need.
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stuart: down across the board. this was developing right now the provinces vaccine mandates are legal even if the vaccines are not fda approved. edward lawrence, the new restrictions we know are coming, will it slow businesses and the economy down? >> the decision by the doj openness the door for schools
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to mandate vaccination so that's a big decision and could get appealed but i'm a mask mandate the feeling is the delta variant and mask mandate are not slowing the economy but many states are looking toward the lockdown mode because counties like clark county which includes las vegas have gone back to mandating masks for all employees dealing with the public, los angeles mask mandate for everyone regardless of vaccination status. st. louis and missouri following that. some local governments are headed there. your member from the president last may. >> for now after a year of hard work and so much sacrifice the rule is simple. get vaccinated, or wear a mask until you do.
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vaccine or mask, get vaccinated. >> reporter: vaccinated or masked. now the white house secretary jen psaki confirmed discussions in the white house about a federal mask advisor for everyone regardless of vaccination status. travel, and the restrictions changing on travel, you have to wear masks, including airlines, nonessential travel across the northern and southern borders, legal travel restrictions in place, people from 32 countries are banned from travel to the united states and appears even if you are vaccinated. >> no vaccine mandates are coming, mask mandate coming from states.
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with all of this it will slow the economy down, even slightly, any slowdown coming? >> i'm against mandates. it was more vaccinations, not more masks or shutdowns. the fatality rate from the delta strain is one tenth of the fatality rate in february when we had a serious problem. we've got herd immunity as much as 85%, adults who have been vaccinated and people who have natural immunity so those are good numbers, we just need to get vaccinated and the biden white house, the biggest mistake they are making, they
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should be bringing in donald trump, who unequivocally endorsed vaccinations and he would carry a lot of weight in certain unvaccinated parts of the country and different demographic groups. they keep ignoring trump who is giving them a message, last autumn and winter biden said nothing trump did was good. harris said she wouldn't have a vaccine because it came from the trump operation warp speed, that was very stupid of them and very shortsighted and very wrong of them. donald trump could help them but i will tell you this. i don't worry about masks and the economy. i worry about economic shutdown. this country cannot take another widespread shutdown. it would be an absolute catastrophe.
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the good news is we are not going there. the bad news is they should get as many helpers, sarah sanders, running for governor of arkansas just came out in favor of vaccinations. they need all the help they can get, conservatives, liberals, republicans, democrats and they are not doing it. they are not rallying right. stuart: go for vaccinations, suggest vaccinations, encourage vaccinations, don't mandate them, just encourage. i like the idea of bringing back donald trump to plug vaccination. he would turn a lot of people around. it is unlikely the democrats would bring back donald trump in any capacity. >> so shortsighted. the president has been unequivocal about this. made a number of press statements and said so in a number of'ses we should avoid
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masking where possible but voluntary masking doesn't trouble me. shutdowns would be catastrophic. get the vaccination. if you get the delta strain and you've got the vaccinations, you might be liable to a mild mild, nothing big going on. we don't have to worry about teenagers and kids at school, they've never been a problem. stuart: larry kudlow direct and to the point. see you soon. i've got to say for the first time in my 50 years of living here i think america is exhausted and a little strong, we are tired and fed up and need a break. i will explain that in my take at the top of the 11:00 hour. and espn commentator explains
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why he couldn't enjoy the opening ceremony of the x. role tape. >> keep thinking back on the capital riots. i saw a lot of us flags. now when i see the flag, what america am i living in? stuart: we talk about that and dramatic develop and happening at the olympics. ♪♪ ♪ introducing schwab stock slices. for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more. at $5 a slice, you could own ten companies for $50 instead of paying thousands. all commission free online. schwab stock slices: an easy way to start investing or to give the gift of stock ownership.
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stuart: 22 minutes into this trading session, not so much reading, nasdaq is down 78 points. microsoft, apple and out for bit, they report after the market closes they had a fantastic run up in the last 2 or 3 weeks, the top three all hit record highs.
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investors are expecting a monster earnings report. susan is laughing. microsoft, 288. >> with tech giants with expectations low, coming off of $100 billion sales quarter. this quarter looking for $73 billion, margins are so incredibly high for a company selling expensive product and services are going to be key, 20% of sales, not only the iphone, you're paying for applecare and cloud and services in apple tv plus. stuart: spectacular to put apple above 150. >> penciling in 170 for the
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stock, the stock split for apple, tesla splitting last summer as well. stuart: i am penciling in 300,$000, check the dow 30, look at them altogether, a handful of stocks in the green, the overall movement is down, 35,000 is holding on the dow as we speak. the olympics, simon biles is out of the competition, the heavy favorite dropped out due to a medical issue. one of the coaches told nbc, she is fine but done for tonight. biles eligible to compete for the all-around title, the individual event competition that follows and you are a
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tennis player. >> this is the torchbearer as well. this is quite surprising but it is not physical but mental. there is so much pressure on athletes to perform at the olympics, happens every 4 or 5 years, you train throughout those years to peek at the right time. stuart: texas congressman dan crenshaw, brian kilmeade, dave rubin and the mayor of miami, the second hour of varney is next. ♪♪ ♪♪ portfolios, time after time.
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♪♪ stuart: the kinks. it has been a long since i heard the kinks. ray davis was the very popular lead singer. he was very good. 10:00 after a hour's worth of business we're down 140 on the dow but we're down over 100 for the nasdaq. some red ink this morning. it is a big day for tech earnings. apple, microsoft, they all report after the bell this afternoon. all of them on the market right
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now are down but that follow as huge runup in the last couple weeks. investors are expecting a blowout report series from the three biggies this afternoon. wit coin briefly touched 40,000. it is down to 38,000 five. amazon denied reports that it plans to accept crypto payments this year. maybe next year but this year, no. latest raved on consumer confidence. that is important forward looker. what have you got? susan: blowout. 29.1 in the month of july. that is higher than economist forecasts look for 23.9. from what i see the highest since fenn of 2020. stuart: no immediate impact on the market that i can see. maybe the dow is a little affected there but probably not much. susan: probably waiting for the earnings right now but this is a pretty strong number thanks to stimulus and lovely checks the americans have been getting. they have been going out to
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spend to help the economy. stuart: the market is waiting for google, apple, microsoft. which is coming later. everyone, now this. of all the boondoggles associated with climate mitigation surely the civilian climate corps takes top prize. at the moment it is just a proposal. thanks to the "wall street journal" we know what's in it and we know how bad it would be, i mean bad. president biden requested $10 billion to employ 1 1/2 million people to fix the climate and to fix environmental and racial injustice and to fix economic inequality. all of that. as the journal says, they want to tax you to pay your children to spend years lecturing you. just what we need. climate action shock troops. they would talk to people about limiting emissions. really? can't wait for the knock on the door when a teenage climate zealot comes acalling. there would be clean energy
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educators, lecturessers by any other name. they would earn at least $15 an hour, plus full health care, child care, counseling. up to $25,000 in educational grants. oh, they would be unionized. with the climate corps like fdr's civilian conservation corps? certainly not. back then, quote, exclusionary racist and sexist practices were employed. fdr's corps developed stolen native land. oh. just imagine this modern climate corps. the journal says it would be a part green jobs program, part behavioral hectoring squad, part social justice brigade, and part union recruitment effort. end quote. that would indeed be the worst of all climate boondoggles. heaven forbid it passes. once you've got a government
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program it, never, ever, goes away. second hour of "varney & company" just getting started. ♪ stuart: all right. apple, amazon, facebook, big techs all report this week. we have apple, google and microsoft reporting this afternoon and some investors are expecting an absolute blowout report from these three companies this afternoon. michael lee is with us. all right, michael, are you expecting a blowout? i think you are actually. i think you're looking for an absolute blowout report on facebook and google. why those in particular? >> hey, stuart. we've had an interesting 1months in the pandemic. so what happens when we're going into recession or business slowdown the first thing to go is the marketing budget. as those marketing dollars have
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come back online they have been heavily concentrated towards digital advertising. of course facebook and google own about 54% of the digital ad marketplace and why do companies spend more money? there is higher yield on digital advertising. there is bigger bang for your buck on each advertising dollar spent. you would have thought with apple's iphone, new privacy restrictions, ios restrictions they talked about would hamper that sort of business. it is supposed to stop companies like facebook and google tracking you all over your phone. well, you didn't see any of that translate to snapchat or twitter. being that google and facebook are much bigger players in the market, they're much better-run companies this most likely will translate through to their earnings as these big companies just get bigger. stuart: all right, michael, let's suppose all the forecasts are right, all the five big tech companies really do report
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absolutely stellar, above and beyond the profits that they were expected to make. supposing it goes really, really well. does that support the whole market, not just big tech, the whole market for the rest of the summer? >> well, stuart, i think it is part of a trend that analysts, sell side analysts the most bullish optimistic people in the world are simply too bearish. they underestimated the speed of this recovery and the strength of this recovery and i think it is translating through to these big companies, so yes, these companies dominate the indices. top five companies make up 23, 124% of the s&p 500. if they're blowing the doors off, yes it is going to support the overall market because a lot of these big companies are the market if that makes sense. stuart: do you have a favorite stock amongst the big techs right now? >> yeah. i, i like amazon. they're growing their digital
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advertising footprint. they're dominating in the cloud. and, as susan just mentioned, now that you have these checks going out for children that continue fiscal stimulus, you have a, just got a blowout consumer confidence number. the pandemic has been extraordinarily well or extraordinarily good towards amazon and i don't see that stopping anytime soon. >> got it. michael lee. thanks for being here. we'll watch you real soon. of course we're watching those tech reports this afternoon. let's get to the political front for the moment. thousands of protesters showed up at the white house yesterday. they were urging president biden to take action against cuba. dan crenshaw, republican from texas, he was there and joins me now. i still don't understand it, why has the internet been restored to cuba? i thought that is what we were going to do? >> there are definitely obstacles for doing that. that is one of the big demands
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for the administration. stop putting out talking points, doing the bare minimum to help the cuban people. in general, when freedom loving people are fighting tyranny, whether in venezuela, hong kong or cuba, we should support them, united states of america should support the people at least on a moral level. to get to concrete stuff, yes the biden administration needs to move as quickly as possible to restore wi-fi. why is that important? so the cuban people can organize. they can communicate with one another that they feel like they're not alone in this. they're not alone in this. one of the big chants yesterday at the white house everybody was demanding biden wake up, asking where he was. one of the big demands, one of chants, cuban people in the streets so are we. i thought that was so unifying. i thought it was such a cool scene. the biden administration needs to take these steps. once you allow the cuban people organize, you could see the end
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of regime. that could be the end of socialism in latin america. stuart: i'm not so sure the far left in the democratic party wants that. people in the far left they're not averse to cuban style communism at all. >> you hit the nail on the head right there. that is absolutely true. the far left like socialism. they call themselves democrat socialists. they will be always averse to standing up to any kind of tyranny or authoritarian regime that has socialism or marxism moniker. they like these places. they have long given credence to a lot of the cuban regime. this is the type of talking points the far left has. they can't say a bad thing about socialism. stuart: congressman, you're a veteran. the veterans affairs department is the first federal agency to require most of its staff to be vaccinated. are you okay with that vaccine mandate at the va?
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>> look, i think we're all sick of the vaccine controversy here. in our outlook on this should be very simple, i think the vaccine is safe and effective. i also don't think you can be forced to take it. we should just really, we should have that world view. i'm really sick of the democrats especially trying to politicize this and gas light the american people, look at these republicans bad-mouthing the vaccine. i never bad-mouthed the vaccine at all actually. you know who has? kamala harris. governor cuomo of new york. they're all on the record. back in october when trump was touting this vaccine they were on the record saying that you can't trust the fda. so i'm getting really sick how this has been politicized. look, you take it based on your own personal health and your risk assessment of your own life. that is how we should look at the vaccine. we're well on our way out of this pandemic and learning to live with the virus in a very common sense manner. okay? let's not try to go back to the
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times of 2020 where we're talking about lockdowns and mandates and putting fining people, putting them in jail if they don't do exactly what we want them to do, behave exactly what we want them to do. stuart: congressman, thanks for joining us. appreciate it. we'll see you again real soon. >> thanks, varney, vaccine mandates are coming for some state and city employees. susan break this down countrywide, where and when vaccine mask mandates? susan: talk first about california first state obviously, new york city first state across the country n new york city it will impact 300,000 of these workers. california, that mandate will affect hundreds of thousands. some unions up in arms about this. as you can imagine. california will now require employees to show proof of vaccination showing on august 2nd. if you can't you have to wear a mask, get weekly testing.
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feels like we're going backwards, doesn't it? despite the fact that 3/4 of californians have gotten one shot. here in new york state, more than 70% have already gotten at least one shot. unvacs it -- unvaccinated are te problem, right. 90% of cases are from those who have not gotten their jabs. according to sources, this headline crossed here, the cdc is set to announce revised masked guidelines even for vaccinated americans. stuart: that just crossed the wires. susan: according to sources right now, looks like they might be issuing new guidelines even for the vaccinated. stuart: understood. get back to the markets. dow down 170 points. tesla this morning is down 2 1/2%. i don't understand that, susan. susan: i don't either. stuart: it was a monster earnings report late yesterday. susan: i'm trying to figure that out as well. they took an impairment charge on the bitcoin holdings. lost $23 million on buying and holding bitcoin. they still have $1.3 billion.
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we know there might be a parts and chip shortage. that is the main risk when it comes to production in the back half of this year. elon musk, it is interesting, it might be his last earnings call for tesla. listen. >> i will no longer be default doing earnings calls. i have will dot annual shareholder meeting but i think going forward i won't, most likely be not on earnings calls unless there is something very important i need to say. susan: that's a shame because he usually makes, probably the most entertaining earnings call of the earnings season. he made a few jabs at apple last night as well. when he is such a icon, you control the company, that you founded you can say whatever you like and he does usually. stuart: wonder why he is stepping back? susan: he is busy. he has spacex to look at.
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he has a newborn child to take care of. he is busy trying to run tesla. stuart: has he got another one? susan: yes, baby x, remember. stuart: newborn. at least a year ago. susan: oh, come on two. stuart: six to eight weeks old. i am told we got to go. one american sports commentator is troubled by seeing the star and stripes at olympic. >> i love the opening ceremonies. i realized, man, particularly after these last four years i had it wrong. nationalism is not good. stuart: that is not all he said. we have got the full clip. you will see it and hear it. plus the governor of new york takes a victory lap after the justice department dropped the probe of his nursing home scandal. >> it was toxic politics. it violated the basic concept of justice in this nation and it did a lot of harm and a lot of
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damage. stuart: brian kilmeade will join us shortly. he has a thing or two to say about that. the biden administration says it is fast tracking deportations of some illegal migrants who are surging at the border. how is that actually playing out? live report from texas coming up for you after this. ♪. experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350. experience amazing. with voltaren arthritis pain gel my husband's got his moves back. on the 2021 rx 350. an alternative to pain pills voltaren is the first full prescription strength gel for powerful arthritis pain relief... voltaren the joy of movement
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all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. ♪ stuart: take a close look at the nasdaq for a moment because it is down more than 1%. susan and i tend to believe that that market, the nasdaq, took a trip to the south land right
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after it was announced that the cdc or sources are say that cdc may reissue the mask mandate for vaccinated people. have i got that right? susan: that is correct. stuart: that is what they're saying. >> "new york times" is reporting that the cdc will reissue mask mandates for the vaccinated indoors. right now the cdc is directing 3:00 p.m. telebriefing where they will get that update. stuart: a mask mandate for people indoors? susan: again. we're going backwards. i checked the 10-year yields. we haven't moved up that much. there is that much shall we say movement when it comes to safety in the yields. stuart: but i noticed that the nasdaq did head south. susan: correct. stuart: right after what you reported the cdc and "the new york times" was saying about it. that is a step backwards. there is this, 27% of unaccompanied minors who were deported this week tested positive for covid. rich edson at the texas border
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town of la joya. they were able up to this week to deny migrants entry because of the pandemic. is that coming to an end? >> there is a procedure, stuart, title 42. there is awful lot of talk about it. that is something the trump administration put in place and the biden administration maintained allowing the certain number of migrants back over the u.s.-mexico border because of covid-19 protocols. there had been discussions of homeland security whether or not to end that at the end of this month, which is at the end of this week. officials say there is consideration still of that because you have got issues now with covid spikes domestically and around the world. the white house has no timeline when they will end it. border patrol officials here are anticipating that may be the case. since october the u.s. government has expelled 750,000 migrants as a result of this
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program. here we are in la joya, texas. this is the rio grande valley sector. this is the busiest sector in the united states for migrants. officials tell us they expect a number of groups to cross over at this point today. they did so yesterday. one group told us they came up from nicaragua, took them 26 days to do so. the local community, big town around here is mcallen, texas, 150,000 people. the city government says they are seeing a strain in their community because of the surge at the border and covid. >> we continue to ask and customs and border protection, homeland security we don't know if and when something will change with title 42. we know if it does, if it goes away we can expect our numbers most likely to increase dramatically. reporter:red administration also announced it it is going to
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expedite certain removal of families. families are detained a little bit but as a family unit many are getting released into the united states. administration say those who do not belong here with no reason to be here, their real will be ex-today fighted from the united states. but the administration has given few details who this will affect. stuart: rich, thank you very much the biden administration is announcing they are resuming expedited removal. migrants claiming asylum will be expedited immediately if the claims don't add up. greg stuebe joins me. congressman, it seems they are doing something. they have gone back to the trump version getting at the border, turning them back before they actually get inside. there is no more, not no more but there is limit on catch and
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release. they're doing something at last, right? >> hopefully. that's what they're saying the facts at the border are completely opposite. more than a million illegal immigrants came across the border so far. in the month of june we had 18 illegal immigrants detained that. is the highest number in 21 years. these are numbers that are appalling to anyone. more than the size of a congressional district has come in illegally and the biden administration is shipping these individuals all across the country. they're putting them on planes, on buses. members of congress like myself reached out to the biden administration where these individuals are going to. want to know how much money is being spent, where they are being sent, where they are being transported to, and we'll getting no information from the biden administration where they're taking the illegal immigrants. stuart: a writer from espn says seeing the u.s. flag at the the
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olympics is troubling. watch this for a moment. >> i love the opening ceremonies. i realize, man, particularly after these last four years i had it wrong. nationalism is not good. we've seen the rise of white nationalism. nationalism is not good. also this whole idea, i keep thinking back on the capital riots, i saw a lot of you know, u.s. flags. stuart: likening the u.s. flag at the olympics to the u.s. flag in january the 6th. your response congressman? >> well if you're not happy with the united states flag and you're not proud of the country that you're in he is free in our country to go to whatever country he wants to be proud of that flag. we're free in our country to do those things. i was proud and honored to serve my country to right to have his opinion. i don't agree with it. many americans don't agree with it. americans stand for liberty, stand for freedom, stand for truth. stuart: it's a turn-off. thanks for being with us, congressman. we appreciate it. >> thank you. stuart: mask mandates making
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acom back in cities across the country including st. louis. missouri's attorney general suing because of it. he will be here later to make his case. at first, why does china hate bitcoin so much? i don't know whether they do or not, but that is what is on the prompter. my next guest says it is because crypto stands for economic freedom. rich rosenbloom is here to explain after this. ♪ ♪ why do you build me up ♪ ♪ build me up ♪ ♪ buttercup baby just to let me down ♪ ♪ and mess me around and then ♪ ♪ worst of all ♪ ♪ you never call ♪ baby
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♪. stuart: there is a few things going on in the market this is morning. we need to tell you about them. look at the nasdaq, down 154 points. that is more than 1% lower, a much bigger loss than the dow or the s&p. mask mandates possibly coming back, even for the vaccinated. that was the report that susan broke, 20 minutes ago. susan: "new york times" reporting this. extrapolate think about what it means for the reopening and the economic recovery. that is why it is having a negative impact on the markets right now. stuart: mask mandates on a mass
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level, if that would happen that -- susan: i don't know roberts confirmed this, the cdc will be issuing new mask mandates for the vaccinated at 3:00 p.m. today in a briefing. stuart: really? fox has confirmed they will reintroduce the masked mandate for vaccinated people in the 3:00 announcement this afternoon. no wonder the stock market is down. susan: looking through the details of this, it might just be in certain circumstances for certain vaccinated individuals. still though that is a step backwards as you can imagine. stuart: it is. susan: it slows the reopening. show me bitcoin, we're about 38, 39,000 this morning. 38, two. hit 40,000 a coin yesterday. dropped back to 38, two today. we need more guidance. rich rosenbloom, our bitcoin guy for the 10:00 hour. why do you think china cracks down so hard on bitcoin and the other crypto miners? >> that is a great question.
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i think that the chinese people have been leading the world in bitcoin mining and trading bitcoin. so it has come to a bit of a surprise the government is coming down with brute force against it. bitcoin is more than a cryptocurrency. more than a parallel ecosystem to tech. that is revolutionary form of communion. they're building new economies, new tools in tech. it is about the individual. it puts the user in charge both in terms of the governance and the reward to the system. china doesn't like that. china is about control. you can't even use apps that we us every day like google and uber. so it makes sense that there is this new system that they really can't control because it is decentralized. they don't like it one bit. stuart: we have this report i believe friday of last week, that amazon was considering accepting bitcoin as payment by the end of this year. they have denied that report. no, no.
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we're not going to accept bitcoin by the end of this year. maybe they will do it next year. what do you think? >> i would say tech billionaires have a lot in common. they're all going to space and they all tend to like bitcoin but it is not just a shared rumor because amazon did put something out they were looking for a blockchain specialist. last week everyone was focused on this conference with jack and elon. today it is more about the a word. not only about amazon, second biggest retailer in the world of the finance elites have been holding on to bitcoin. it is designed to be scarce but there is not actual use cases for it. suddenly the biggest on line retailer in the world is accepting as a form of payment it is on a overnight game-changer. some speculators are expecting the price to continue to drop. there is a billion dollars of short interest knocked out. i think even if this report isn't true. adoption is coming. it is on the way. whether it is going to be the second biggest retailer in the
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world, i think we'll see other groups like amazon, tech groups will be first, the rest will follow. stuart: we shall see. rich rosenberg, thanks for being here again. always appreciate it. thank very much. >> thank you. stuart: chinese stocks, some china stocks, actually continuing their fall. we've got a new crackdown, susan? susan: yeah it is pretty dramatic. we're looking for the worst two-day wipeout since 2008. you have to go back to the global financial crisis. i don't remember the last time i saw alibaba at 184. you have a wipeout for didi. remember this ipo'd at 14 bucks. they're trading at half the value. a alibaba competitor. the reason looks like beijing is cracking down on the tech giants which kind of really doesn't make sense. depends how you look at it. maybe beijing as you mentioned, you were a student pointing this out, they want long-term control over data and the economy, these tech giants.
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meantime you will cut off your nose to spite your face especially with the homegrown tech giants, right, that serve billions of people in the country. stuart: politics and control is more important than economic growth? susan: yeah. stuart: can i say that? susan: yeah it makes you wonder. isn't economic power influenced that china wants and covets as well? stuart: very true. very true. let's move on to our own big tech giants in the united states. that would be google, apple, microsoft. those three report after the bell this afternoon. let's see what are we looking for? take me through each one. what are you we looking for? susan: you want to start with apple, the biggest company own the planet right now? i think it is being hurt we have the possible cdc mask guideline issued once again for the vaccinated at 3:00 p.m. today. ahead of that apple is the single most influential stock in the stock market. you have to go back to 35 years when ibm was at its peak, last
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saw a company with influenced. iphone sales. looking for $34 billion iphone sales quarter. that is huge. services, this is basically the back half of the iphone 12 model. you're looking for guidance forward for the fall. what happens in september, launch devices. stuart: tell me about microsoft. susan: you tell me about microsoft because you watch the stock so much. stuart: azure is the cloud brother. i'm told it is real good. susan: 45% growth in sales is what we need to see from azure. again, you know, they're likely going to beat that. also i would say gaming is probably very important since xbox, during the pandemic, people really stayed home and gamed. pentagon, the defense contract. stuart: google looking for advertising revenue? susan: recovery. looking for a $56 billion in sales for google. these are incredible numbers. yes, ad spending obviously when it comes to surge and spending
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on youtube will be interesting. cloud, google is breaking out cloud. they're still losing money. stuart: watch out for the big three this afternoon. coming up could the qr codes you scan for restaurant men use be tracking your information? it's a privacy concern. we'll deal with it. we brought you the story about the fast-food chain turning teenagers into managers with 50,000-dollar salaries. how is that working out? i will ask layne's chicken fingers. he will be back with us. ♪. ♪ limu emu & doug ♪
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♪. stuart: cape coral, florida, right there, 83 degrees. but it will be a rainy day.
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thunderstorms expected. that is florida in the summer. by the way residents of florida are suing the state, some residents are suing the state for ending the federal unemployment checks early. the state seeing more people reenter the workforce as a result, however, look at ashley webster. he is right with us this morning. you have a hotel seeing a rise in applicants because the state ended those benefits, is that right? reporter: coincidence? no, i don't think so. you're absolutely right. i'm in the rooftop bar of the fenway hotel in dunedin, florida. on the golf course, ocean. this building has been here this facility since 1927, 94 years. it is a classic hotel. fully staffed. you have 90 employees. but at the very height of the pandemic lockdown, only seven people managed to keep this thing ticking over. now 52 employees, apparently
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heading up. let me bring in the general manager, nicky melendez. for a while you had trouble finding people to hire, didn't you? >> very challenging. not just for us but pinellas county as well. ashley: governor desantis said i'm cutting off benefits. have you seen more people come in. >> yes. we've seen 40% increase. ashley: 40%. >> that is great for us. with social media and instagram. it has been terrific. seeing a increase pretty much like that in 60 days. ashley: this is slow period. height of the heat. 52 employees you're able to function pretty well? >> absolutely. strong shoutout to the seven individuals. it is about the core, culture that you bring in. it is exciting to see that. not only 52 associates now, a lot are original staff members. a lot of new members that came in are still with us today. ashley: thank you, governor desantis.
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thank you, mickey. quickly, stu, the lawsuit brought by 10 people in broward county, they say cutting off of those benefits was a political move by governor desantis. they say they don't have enough money for basic living expenses. they want their money and want four weeks retroactive they haven't received. in fact there are many states, five states are being sued. it will be interesting to see how that plays out in florida. back to you. stuart: this is america. everything ends up in court, now doesn't it, ashley? we knew that. ashley: that's true. stuart: regrettably. layne's chick enfingers, they're in texas, they made three teenagers managers because of the labor shortage because of the pandemic. the ceo is garrett reid. he is back with us this morning. >> good morning. stuart: three teenagers as managers. at least one of them is 50,000 bucks a year. tell us, how is that working out? >> it is good to be on this morning. it is working out fantastic. the one you're speaking about you and i spoke about before was
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jason and he is, he is doing fantastic, very impressed with him. stuart: what is his working day look like? >> you know, they just did a story on that. you know gets up probably earlier than most teenagers do nowadays. gets in to start set up the restaurant. doing his prep. making sure all the deposit foss are the previous day were made. preparing the restaurant. making sure that his staff is going to come in. he gets his basically, his preshift speech ready. he gives that to the opening shift and starts the day. stuart: so you would call it a success? you were kind of forced into it because you had no labor showing up. overall, major success? >> i would call it an absolute success. we spend a lot of time training these kids. we talked about that before. we have layne's university.
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we make the franchisees go through it. we make our young kids go through it so they're ready. it was really scary to put a young as these kids are in charge of the store. we have another 19-year-old running our stores as well. they have been absolutely phenomenal. love them. love the kids. stuart: you give them a fantastic opportunity. they have obviously taken it, together, that is a really, really good thing. garrett, thanks very much for being with it. great idea of yours. glad it is working out. see you later. >> thanks for having me. stuart: here is what we got coming up for you. a shocking story, former senator barbara boxer attacked and robbed in oakland, california. that same town voted just last week to take more money out of the police budget. lara trump will cover that for us. she is on the show just ahead. ♪.
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its full and part-time employees. whoa. it will drop the one dollar a day fee that employees currently pay. the stock is down just a fraction. that is quite a move, is it not from walmart, the nation's largest private employer. serious help for college for their employees. all right, coming up on 10:51. you know what that means. it is time for brian kilmeade who joins us right now. look at that. exactly 10:51. i'm sure you saw this, brian. the cdc will issue new mask guidelines later on today. they will recommend vaccinated people wear masks in some situations. this morning susan and i have been calling that a step backwards. what do you say? >> two steps backward. cdc vague command like an anthony fauci interview. in and around me meandering, toe right point. what are those situations.
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by the way if the situations existed last week. was it five days of political pressure gives you that? will we get emails revealed month later about we got the teachers union that manipulated cdc. many we have not got even though congress requested them. we're vaccinated. we're protected. we're not hospitalized if we are. 97% success rate f it has a breakthrough infection, symptoms will be so mild not, doesn't even amount to a mild cold s that how, i'm supposed to walk around my life, timid huddling in a corner. you told me to get vaccinated. you wouldn't have to do this? think about this stuart, the vaccination will stop on a dime. a lot of people do it to get their lifestyle back. think about it, you depend on a bar crowd. back you got to be sitting not to wear a mask. if you stand, obviously that is only time you get the virus. good-bye bar crowd, remember
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that? the bartenders you hired, only need one of them to service the restaurant? you see the ripple effect of this idiocy? stuart: i do. it is not a disaster but as you said it's a couple steps backward, that is a fact. i want you to deal with this one as well, brian. the justice department dropped its probe into new york's nursing home covid deaths. governor cuomo applauded it saying toxic politics got in the way. roll that tape please. >> it was toxic politics. it violated the basic concept much justice in this nation and it did a lot of harm and a lot of damage. to say to people who lost a loved one in a nursing home, it could have been prevented, it was a mistake by government bureaucrats, that is why your loved one died. how cruel. stuart: those are his words, how cruel. take this on for me, brian. what do you say?
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>> number one, we already know his chief of staff said they suppressed the numbers in a call she never thought it would get out. he is up pressed numbers around apologized for it. was the chief of staff acting on his own, his confidant foredecades. to take early bow because a friendly department of justice to end a probe into the small number of nursing homes, not the 600 under scrutiny. he is not out of woods. he has a attorney general who he tried to marginalize through surrogates, tried to marginalize it's a political witch-hunt for them investigating 10 separate woman who accused him of sexual harrassment and friends and family problem like what he gave his brother chris cuomo special attention when it comes to the covid-19 tests which none of us could get at that point. but if you were a donor or related to him, you got it. there is ethics problem let alone his book where he report
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he hadly used his staff to write cashing a 5 million-dollar advance, in the middle of a second wave of a virus he is taking a bow on his leadership. no wonder nine people bought the book. five million, imagine how much that publisher lost. you can't sell it at a discount bookstore or give it away. doesn't make a good door stop. >> you got it off your chest about the mask mandate returning. you got it off your chest about governor cuomo. i've got 30 seconds left. you got anything else up your sleeve? >> i just think it is simone biles, it is pretty amazing the best gymnast in the world ever, looks as though according to "the daily mail, it been mental the reason why she bowed out of team competition. i hope for her sake she is able to get it together to compete individually because it is about the athletes. i want to see her go back out there. i don't want her to have regrets in a ridiculously successful career. i find that is one storyline i thought you would bring up as
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well as the women barely advance in the, out of the group stage at the olympics. they tied australia 0-0. what an embarassment, nil, nil when you're talking about soccer. it is a draw, not a tie. >> i am in america. i am in america. stuart: you're all right. >> thanks, stuart. stuart: another big hour coming up, lara trump, dave ruben, mayor of miami francis suarez. attorney general of missouri eric schmidt. after 50 years of living in america i think america has a case of burnout. i think that is where we are. that is my take next. ♪. usaa is made for the safe pilots. for mac. who can come to a stop with barely a bobble.
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>> i don't worry about masks in the economy. i worry about economics shutdown. this country cannot take another widespread shutdown. it would be a catastrophe. >> no better place to be for long-term equity investor. >> hard to keep a good market down. the earnings numbers for the
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second quarter, 70% and 40% to 50%. >> you strike out a lot. they should wait for that. they knock it out of the park. stuart: it is 11:00 eastern time. we see a bit of red ink, especially the nasdaq which is down, technology not doing well, microsoft, apple and google report after the bell. they are selling off a little. let's see what happens when we get earnings from google, apple and microsoft. should be spectacular.
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for the first time in 50 years of living here i think america is exhausted are in need of a real break. this is a very unusual national mood. there is always plenty of energy. this is a get up and go place but this year not so much. businesses need more staff, they can't find willing workers, doesn't help the government is paying people to stay home but that is only part of the story. youngsters don't want to return to the same old same old. they are not required to hang out and enjoy the summer. i see their point. after pandemic year they see an opportunity for genuine break and are taking it. there is also a get away from me mood. wear a mask, get the jab, lots of social pressure. a common response i frequently here is leave me alone.
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that is entirely understandable. we don't care for anymore lectures and that applies to policies as well. after year of extreme confrontation no wonder 70 want to take a break from the news. we love to see greater flooded performance but not key on seeing elite athletics, we could really use a break from that as well. it is midsummer, august arrives next week, america will be taking a well-deserved summer break. we all need it. we are burned out. there an hour of "varney and company" about to begin. stuart: dave rubin is with me, host of the ruben report.
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fox controlled the cdc will mandate mask guidance at 3:00. seems we are going backwards. this will add to the exhaustion and burnout we already feel. what say you? >> your take was spot on. people are just tired of this. there is an incredible libertarian moment, they are not card-carrying libertarian party members but a moment of i want to live my life as i see fit, i can take a little bit of risk, worry about the people i live with, my local community. whatever is going on in the community, people are just sick of politicians who live out everything and bureaucrats who change their opinion on masks any given day and the cdc, not
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putting laws down, these are guidelines but most people are trying to move forward with their life, it is the summer and people want to get back to a place, and depression and alcoholism, and, >> i can see a real revolt. if they start to reimpose, and nobody love them into individual liberty and freedom more than america. >> people have had it. i was here in crazy los
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angeles, and thus rolling lockdowns and mask mandate and shutdown outdoor dining when it is 85 and sunny every day for months on end, the last 10 days or so when they put this into effect a lot of people are not abiding, i'm not looking to get into a fight, but i did not wear a mask. i went into a store where someone said could you put the mask on but a lot of other people weren't doing it. the sheriff saying he's not going to do anything about it because he believes it is anti-science. if you want to get vaccinated get vaccinated. if you want to wear a mask wear a mask, make a choice that is right for you and your family. america has a spirit of freedom. i was at mount rushmore and saw so many people, it is only republican if you can keep it.
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it is only free and all of the things we love that have been extraordinary for 250 years if we fight for it if you would rather stay at a mask, never go out, listen to bureaucrats who say one thing one weekend another thing, that is not how the rest of us work. stuart: great to see you on the show. see you soon. back to the markets, big tech to start with. apple, amazon, facebook, microsoft and the rest down today, really taking it on the chin, google is down $34, microsoft down 338. mike murphy, regardless of the day's earnings.
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>> unless we hear something out of line that we didn't expect to hear we want to stick with big tech, that is where we get the innovation. if there's too few iphones old that's not enough to sell. a one% to 2% selloff or one of the other companies miss it, might be a slight selloff but stick with big tech, as long this growth in innovation that is where your money is treated best. stuart: with china stocks, technology china stocks, they've taken an enormous hit, ali baba down to 184-185 would you consider a china text.cuecue >> we talked about didi as a trade but investment, absolutely not.
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it is simple because the communist chinese government, unless you run out of growth names that isn't going to happen, china, you have government risk they may take control of these companies and your money might be white out. it is not worth it. stick to the usa. stuart: i am sure you and i and the rest will be glued at 4:00 this afternoon. it will be an astonishing event. lauren simonetti is back. f5 restaurants. >> the number one performer, double-digit revenue growth for three quarters in a row, 207. stuart: they are a software
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company. tell me about sirius xm satellite. i use it all the time. >> subscribers on track to add, the best year since 2018. howard stern is popular. >> more importantly is intel. >> the worst performer on the dow. they want to do so by 2025. analysts are concerned about the cost of getting there. they lost a lot of market share and want to get it back. stuart: a brief blip up to 60. tough being an intel investor. big show still to come. lara trump is taking on the
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ethics of hunter biden's are career. protesters demand president biden take action on cuba. [chanting] stuart: the mayor of miami says sanctions are not enough. st. louis just reinstated their indoor mask mandate, the attorney general of missouri suing them to stop it. eric schmidt called a government overreach. he joined me next. ♪♪ going down the only road i have ever known ♪♪ i was born to walk alone ♪♪ an alternative to pain pills voltaren is the first full prescription strength gel for powerful arthritis pain relief... voltaren the joy of movement
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stuart: that is a little frenetic, the music at 11:00 in the morning. some people are still in bed. 83 degrees and sunny and it will stay that way. the big deal today is 3:00 eastern the cdc will announce new mask guidelines. sources tell fox they will recommend some vaccinated people return to wearing masks indoors. edward lawrence, tell me the latest. >> reporter: in some places, that could be outside in large gatherings. this is a backtrack of what the president said in the last month or so that if you get vaccinated you can get rid of your mask. that might not be the case after 3:00 eastern time today. the white house is down playing
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the connection between masks, the delta variance, and the economy. the white house press secretary talking about all of this. >> when it comes to the economy there is no significant sign at this point the delta variant impacts across the country. any economic impact will be felt in the communitys with lower vaccination rates. that is why we are doubling down on efforts to ensure we are reaching americans where they are. >> we are headed towards the lockdown in cities and counties moving in that direction. clark county instituted mandatory masks for all employees dealing with the public, that includes the city of las vegas. los angeles impose mask mandate for everyone regardless of vaccination status while inside st. louis, savannah, georgia, where the local governments are headed.
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the restaurant consultant said going back to these mandates will be hard on already hurting small businesses. >> all of these pressures to scale back or close things down we have to let people go again and when you let them go again it is hard to recover. >> let businesses have their own way, because of the rise of the delta variant travel restrictions rain in place, masks, public transportation including her lines, no change to restrictions on legally crossing the northern and southern border, people from 32 countries banned from traveling here. it appears we are going back to having one of these whether you are vaccinated or not. stuart: i think it is a step backward. the attorney general of missouri suing the city of st.
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louis for reinstating a mask mandate for everyone over the age of 5. eric schmidt joins us now. mister attorney general, what is your problem with the st. louis mask mandate? >> people are tired of being lied to by bureaucrats and the ruling class, get vaccinated you don't wear a mask, now you have to wear a mask. kids are low risk, have to wear masks, republicans are to blame for vaccine hesitation when kamala harris on the campaign trail, he/she would not take it because of operation work speed. there is a 50 year high in murders last year. filing a lawsuit, arbitrary and capricious, st. louis county has the most restrictive
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regimes, the numbers worse, we got to stop them. stuart: this afternoon, a mask recommendation for vaccinated people in various situations. wouldn't that give local authorities a reason, the cdc says mask up. >> people are tired of the politicization of this by these bureaucrats. scientists told us there is little risk of infection or being seriously ill if you've been vaccinated. for the cdc to change course there's in a clickable, st. louis city and st. louis county didn't work. when we make them wear a mask,
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the basis of our lawsuit is this is arbitrary and capricious. it is about control at this point and diverged from the fact that the mayor and the city can spend millions of dollars without any oversight and a lot of other issues that once you scratch the surface is a problem which is why we are filing a lawsuit. stuart: what are your chances of winning? >> we are hopeful. st. louis county held on to the most restrictive regime in the state. in mid-may you had to ask the government's permission to have an outdoor barbecue with friends. it was indefensible. they might overturn the county executive tonight so there's a lot to play off of. we want to make sure we take a stand early and are fighting for people who had enough.
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stuart: eric schmidt, thanks for joining us, appreciate you being here. back to the markets, down 146 on the dow, the nasdaq is way down, up one.6%, 248 points down on the nasdaq. technology is taking it on the chin. the airlines come most of them down. american airlines down 3.3% facing a fuel shortage. lauren is back with us. what did that mean for fires? >> you are nonstop flights. getting the jet fuel delivered by truck is a labor shortage, they can't get a small report so pilots might make more stops so your nonstop flight might be in jeopardy. this is a problem out west impacting the country not just american, delta particularly in reno, nevada. we recommend you wear a mask in
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las vegas and not as many flights because of the fuel shortage, officials are worried this is a trucking issue but a pipeline one as well, a lot of the pipelines, gas and diesel, listed jet fuel, they didn't expect their travel to come back so fast. stuart: tell me about jetblue, they came out with an earnings report. what is the problem? >> the numbers were great. revenue rose to 7 billion. they are hitting shares, higher jet fuel prices, third quarter earnings from 75 to $175 million so the worst is over but this recovery will take more time. stuart: i was in a supermarket
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on cape cod, store shelves relatively barren the line to check out was long, labor shortage, couldn't get truck drivers to deliver food and couldn't get check out people in the supermarket. >> new jersey trying to get greek food delivered to me, they said they were closed. stuart: this is anecdotal but fascinating. still to come teachers in detroit, with hazard pay showing up to school. what was lera trump thinking about that? a new miami coin crypto currency open for mining next we could bring some money for the city. the mayor of miami explains now. his honor with us next.
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stuart: sixth avenue new york
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city, 88 degrees, activity has picked up a little but nothing like it was back in 2019. you are looking at ups which is down sharply. tell me why. >> it is taking fedex with it. you are going back to the store mask or no mask. daily shipping volumes 2.9%. this will be the true test whether there is pushback, you can only raise prices so much before people say i will get my car and pay the higher cost of gasoline. stuart: that is the reason we are going back to the stores. >> in the last quarter, the future, who knows? stuart: that was a forecast, no
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one was forecasting that. big china tech companies are coming down, ali baba down 5%, another round of crackdown by the communist party. >> what is president xi's end goal? growth or control? you can't have both. if you look at two of the stocks, ali baba his new lows, goldman sachs sentence then, tech firms are looking at some of them, the ones that are listed overseas lost $1 trillion in value since february. stuart: a series a lot of money. >> you don't want to touch these things as an investor and how does this play out? is xi trying to strong-arm is he serious? stuart: you don't know what comes next, which industries next for crackdown and lower stock prices. that's not a time to invest in chinese stocks. we talked about miami coin, a new digital currency about to
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hit the crypto market. first of all, is this your creation? what does the city get out of it? >> this is the creation, a percentage of points that are mind donated to the city of miami by virtue of its protocol earning millions of dollars as a result of the popularity of miami coin because miami, we talked about this many times the bitcoin capital of the world and we are differentiating by creating a new wave of technological products moving to miami. stuart: what is it used for?
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>> the protocol. a percentage of the coin by virtue, 30%, what happens is miami will benefit from the branding associated with it and that will go to general funds to alleviate homelessness, the police force but something we have done and a variety of other things to increase quality of life for residents. stuart: lift will launch self driving cars in miami by the end of this year. is that part of your positioning is a futuristic city? >> driverless cars are the wave of the future, the way they
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advanced to 2022 or 2021 is a huge feather in the, and it will reduce accidents, make it easier for people who are elderly to take ride shares, and positions along continued path the we are on as one of the more psychological cities, artificial intelligence, virtual reality, and crypto currency. >> what do you expect president biden to do about cuba? and sanctions would not be enough. >> several things the president can do.
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the speech that ronald reagan, and and from russia and china. this is a moment to presidential leadership, we have to express the united states's ability to free people throughout the course of human history. something we need to look at carefully. the president needs to have a plan, he was caught by surprise, the cuban government was caught by surprise as well. they are reacting and a lot of the decisions are good decisions.
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they have to up the pressure on the cuban regime. stuart: can't you get the internet restored? that is a priority. >> sanctions on those government actors, and they know there's no way to do that in the world, the ability to sanction them. >> we appreciate it and leading the way. a different subject that shocking. former senator barbara boxer assaulted and robbed in broad daylight. donald trump blames democrats for defunding the police, we will talk to his daughter in law. lera trump, we will talk to her. notice anything different about
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groceries? prices are going up but the size of the product is going down. it is called shrink relation. that report next. ♪♪ ♪♪
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the number on your screen. coventry direct, redefining insurance. stuart: working for living. that is the intrepid, museum on the hudson river in new york city where it is 89 degrees. it is hot and getting hotter. you are not going crazy. some of your grocery products are getting smaller despite prices going up. this is called shrinkflati on.
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explain it. >> you are getting less being for your buck. all of these products in my card are getting smaller. cereal boxes, cadre millibars contain 10% less chocolate. that is a favorite in great britain and some pictures, it is ever so subtle but a bag of doritos used to have 9.75 ounces, now there is one.5 fewer ounces in each bag. you are costco guy, the paper towel, the costco brand has 20 fewer sheets parole. you might not notice it but someone experiencing it firsthand is barb eastman and this is something even you barely saw happen. >> it just didn't happen.
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18 or 24 months ago, now we are really experiencing it, distribution and logistics, prices going high. >> whether it is workers, manufacturing of the products, transporting it it is costing more and some companies don't want to pass the cost on to customers by hiking prices. >> you see cereal boxes. the sizes of the points of ice cream are not appoint. it is 14 ounces. it is very subtle. it is there. >> reporter: we are surrounded by a, paper products, even cat food is getting smaller. it is unbelievable when you see the products getting smaller and paying the same amount. stuart: that is shrinkflati on.
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i was show the luxury productmaker lbm h, stock is close to 2%. even though i believe a poster whopping record sales. >> try to get a louis vuitton bag you are on the waitlist. demand is back for all their luxury brands. in sales in the first half of the year, stands out where the luxury goods are but up 40% from 2019. the stock is down because of tourism. they are reopening, if tourists are in there. stuart: take you down 2%.
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>> what are tourists coming back? maybe two more years. stuart: in new zealand. this is a major story, walmart will help big time, employees pay for college. >> full tuition. an investment of $1 billion in five years, they are adding four more schools they partner with that include the university of arizona and denver. this is a push to attract talent to keep your workers, paying the more and educating them in key areas whether it is around supply chains or cyber security. you work at walmart you have a future, that is the message. stuart: i would like to hear bernie sanders be less nasty about walmart if they are doing
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that for their employees. >> i agree. he always says walmart workers live in poverty. they are making 15 plus an hour and getting free education. stuart: walmart is doing more for education then bernie sanders is. the dow 30 down across the board but the dow industrials are split 50/50, the dow is close to 200 points. growing number of schools will require masks in the fall. lara trump, mother two young children, does she support that? lera is with us after this. ♪♪ ♪♪ freedom ♪♪ freedom ♪♪ freedom ♪♪ freedom ♪♪ freedom ♪♪ ♪♪ freedom ♪♪ you can close with more certainty. and twice as fast. if i could, i'd ten-x everything.
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♪♪ i got everything i need and nothing that i don't ♪♪ stuart: homegrown ♪♪ you can take that all kinds of ways. that is capitol hill, 87 degrees and sunny in the nation's capital.
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former california senator barbara boxer attacked and robbed when walking the street in oakland, california. donald trump said our once great cities like new york, detroit, san francisco and so many others have become a paradise of, because of democrats. we must get power back to police or america will never be safe. lera trump with us, what is your thought on this surge in crime? >> my father-in-law is correct, not the major american cities most of which run by democrats, and they had to pretend they were doing woke into the woke thing from their police
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department, and and these are nice areas of manhattan in the middle of the day. people are punched in the face, robert, happened to barbara boxer, you see so many people leave new york, and they feel they are protected. we will refund our police and start respecting them again. stuart: make the point that you will only see it on fox. it is not in the new york times or washington post, they don't deal with it the way we bring it on. lots of kids have to wear a mask. you are a mom. how do you feel about going
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back to school in a mask? >> totally outrageous. if we cared about what was doing best for our children no reason kids should be wearing mask. follow the science, kids do not get covid the same way adults do. if they get a case they get a more mild case but we have been fear mongering our american citizens, the mainstream media have gone out of their way since last year to terrify every american, this is something that will be incredible he dangerous for kids, the seasonal flu is more dangerous, masking kids every single year in flu season. the bottom line is this for adults. kids can't see each other's faces, they get kids from wearing masks all day. it is not good for their health or allow them to develop an robust immune system. the idea of sending kids back
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to school, make them sit in masks all day is absolutely crazy. i made sure for both of my kids becoming school year they will not be masked in school. stuart: in detroit teachers getting $2,000 worth of hazard papers showing up. do you say about that? >> it is virtue signaling. these teachers are nervous about attracting covid, i recommend they get the vaccine thanks to operation warps speed we have a vaccine that is available to anyone that wanted. i'm not a doctor but common sense would dictate if you have the vaccine and come in contact with anyone you shouldn't be worried about contracting it. i don't know what to make of that. it is democrat run city and this is par for the course for what they are doing.
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stuart: have you ever heard of digits? don't know how old your children are. my grandchildren who i was visiting over the weekend, they are into fidgets. i've never seen a toy craze as popular as this one, they are everywhere and kids are clamoring for them. are your kids clamoring for fidgets too? >> mine i and 3 and the only fidgets we have our when their friends come over and left them at our house. they are into them but i got away scot-free because i haven't had to pay for them. i feel for you. this christmas season parents are fighting, we will see. stuart: we will do a piece on fidgets later this week. i've never seen such a craze.
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i'm boring you with fidgets. please come back and see us again soon. >> always a pleasure. stuart: a very interesting trivia question. how many words on average can a dog understand. the answer when we come back. ♪ you'll jump for joy. ♪ here, better protection costs a whole lot less. you're in good hands with allstate. click or call for a lower auto rate today. ♪ ♪ experience, hyper performance that takes you further. . . po. . experience amazing. the rule in business used to be, "location, location, location." now it's, "network, network, network." so you need a network that's built right. verizon business unlimited
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susan: we asked you before the break how many words on average can a dog understand?
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the answer is? i don't believe it. 165 which is comparable to a 2-year-old child. what do you make of that? lauren: sounds about that, 2-year-olds get about 165 words on a good day. dogs i have no idea. susan: seems like an awful lot of words to me. relate a real fast story of mine. coanchor of mine. took a spray dog into her house. stuart: japanese folks said a few words to the dog. turns out the dog had left a
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japanese home and did respond toe japanese language. lauren: like elephants in the reese reese witherspoon movie. stuart: where is that dog barking? unfortunately my time is up. david asman in with us for neil. do you have a dog story. david: my 16-year-old dog retains word. we'll see you. welcome to cavuto "coast to coast." i'm david asman in for neil. we're awaiting official word from the cdc. mask wearing, that news is coming up. we'll bring it too you here. markets appear to be rattled in anticipation of the news. we'll give you

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