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tv   Varney Company  FOX Business  July 30, 2021 9:00am-12:00pm EDT

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dagen: thank you, lovely that you were both here with me, happy birthday. "varney and company" starts right now, take it away. stuart: you don't love me? dagen: i see you every day. you know how much i love you. stuart: good morning, everyone. serious stuff. new internal cdc data reveals the dangers of the delta variant. it is as contagious as chickenpox. you can get it and transmit it even if you are vaccinated and if you do get your illness may be severe. this is the data that led the cdc to reimpose masking
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requirements early this week. it is a grim development that intensified the debate over masks and vaccine requirements and may further delay the return to work. it is negative for stocks, the dow retreating to thursday's all-time high. and intraday high. the s&p coming off its intraday high on red ink but look at that nasdaq. it has taken the biggest hit of all the indicators. this is most of the reason on the nasdaq's side. the stock dropped after the results were hosted, $246, 6.8%. here is robin hood, down 34. my opinion it is here to stay.
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that company. it represents the democratization of investing, robin open 20 million accounts. it is a good thing, see how stock closes at 3398. it is a down day all over. bitcoin dropped below 30,$000 a coin and it is down 38-7. an opinion piece in the new york times calls for noncitizen voting. my opinion, this is why the democrats will not close the border. nancy pelosi friends to arrest members of congress who won't mask up. you can walk into the country with covid but can't walk into the house of representatives without a mask. it is friday july 30th, 2021. "varney and company" is about to begin.
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♪♪ fork i'm so excited ♪♪ and i just can't hide it ♪♪ i'm about to lose control stuart: the producers are trying to get this going. susan, good morning. that is my script. >> i'm so happy for cindy lee. stuart: she won the gold medal in the all around. i thought that was pretty cool. isn't that brilliant? that is fantastic. >> in the face of pressure. stuart: she was put on the spot and performed terrifically. you know more about this than everything i do. >> it was great. stuart: novak joe québec --dkocavic can't get the
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golden slam. >> in the gold-medal. stuart: he is out. it is happening now. the us women's team is in extra time against the netherlands. the score is numtwo-numtwo. let's get to money. check futures, the nasdaq down 170 points. big tech is down, especially amazon but the rest are following suit. do you think that is the result of the new report on the dangers of the delta variant. >> given the delay for these big tech companies, 25% of the s&p, all five report results. $70 billion is almost the
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entire side of general motors, it is worth more than forward and the breakneck speed of growth, and you saw with amazon last night, maybe not in this entire case. stuart: along comes the delta variant report, highly contagious, dangerous, maybe that is affecting, might slowdown the economy as we get past the summer. >> the first 6 months of this year i saw a statistic there's nowhere else to be but the us markets. you had a record back to 1992, $600 billion for the stock markets. stuart: that is a great deal of money.
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let's start with amazon. would you buy this dip? amazon is down by $256. would you buy the dip? >> it might go lower. i would buy the dip, with the foundational holding, on the opening, a chance for even weaker. that is a stock i believe in. we have been talking about can they keep up the piece of growth? amazon came out and said another $100 billion border. growth may slow a little bit and the trader types create all kinds of panic. it is an opportunity but you
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could let it settle in, don't necessarily go to the opening but go lower. stuart: they started trading yesterday. the ipo was not well received. >> the worst ipo debut going back 14 years if you go to ms global, why was it a messy ipo process? reallocating 35% of the shares to the retail investor, it skews everything, to go in and buy because they don't have access to the out location. and the big hedge funds and pension funds. that is a bargain, with stock.
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don't want to have the worst debut, and -- stuart: 38 went out. >> somebody like kathy would buys it. stuart: let's get to kenny, would you buy the robin hood dip? >> absolutely not. i'm not a fan of robin hood. i appreciate what you said that they've drawn people to the market and the same people that come into robin hood can, through e*trades, not like they need robin hood. i'm not a fan of what they've done, they gameifieasy it. the last of the capital markets needed the casino but that is what robin hood has done. the thing about kathy would,
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you are assuming she bought it at the closing price, she didn't buy the whole position but at the end of the day, as they get weaker was buying more. i think she has vision, i'm not a buyer of robin hood. stuart: i guess he's not a fan of robin hood. >> a fan of kathy would. you have 22 million accounts, up 20% in the past year $100 billion in assets, when you see growth like that it is not buying it at $30. >> i don't like that model. maybe i missed it. i'm not a facebook user, i
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don't care what the story is, people can be investors. i love the fact that more people are getting in but they can get in through other venues. that is what really annoys me. they said look what we've done for the markets. in my opinion you let everybody think it is a big game and long-term investing is not a big game. it takes skill, time, patience. it is not you will be a millionaire tomorrow night. stuart: i think we hear you even though you are 1000 miles away i hear you very clearly. >> i'm right around the corner in downtown manhattan. stuart: don't call charles schwab charlie. i've known you for 50 years.
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he's a certain friends from way back when. we had some earnings before the bell. caterpillar down 2%. >> it is down because you heard the ceo say china sales, the second-largest market, the supply-chain challenges made the rest of this year. stuart: oil companies coming out with earnings this morning. >> the recovery here in the premarket, you have oil prices back to 6 year highs, buying back their stocks, great if you're an investor. stuart: procter & gamble make all kinds of stuff. they make a lot more. >> bars of soap probably, i always laugh because what most people use, they do warn of
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inflation pressures. the ceo being replaced by the coo. stuart: this is very entertaining. are you confused about president biden's mask messaging, turns out he is as well. >> if you were fully vaccinated you no longer need to wear a mask. >> if you are fully vaccinated you no longer need to wear a mask. stuart: you heard it, we are covering the growing calls to mask up. we will cover this all morning long. it is a troubling headline from the new york times, cdc internal report calls the delta variant as contagious as chickenpox. bill cassidy is a doctor. what does he think of this new data development. nasdaq slide.
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more varney after this. ♪♪ ♪♪ we did it again. verizon has been named america's most reliable network by rootmetrics. and our customers rated us #1 for network quality in america according to j.d. power. number one in reliability, 16 times in a row. most awarded for network quality, 27 times in a row.
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to help increase energy and improve recovery. and it keeps you at your best all day long. the new sleep number 360 smart bed is temperature balancing. and it helps keep you asleep by sensing your movement and automatically adjusts to keep you both effortlessly comfortable. proven quality sleep is life-changing sleep. only from sleep number. stuart: is that music relevant in portland, oregon? it is 6:15 in the morning. it is going to 100 one. the nasdaq decline is down 174 points. plenty of red especially for
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amazon which is down $260 per share. it is in the new york times, the cdc internal report calls delta variant as contagious as chickenpox. louisiana republican joins us now. the headline claims infections and vaccinated people may be as transmissible as in unvaccinated and the delta variant leads to more severe illness. should we be masking up again? >> it could be as our keywords in them. a subset of people vaccinated are at risk of transmitting to others. one%, the risk is less likely or 15% in which case it is more likely. show us the data, let us see the evidence and there will be more confidence in what the cdc
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is saying. stuart: it appears we will get the full data later today. they've seen this report and put out a short report on their front page. this implies that it is a serious delta threat. >> the physician whose written papers from vaccines, before i do that, a beat reporter from the new york times, don't mean to offend them but it needs to be judged by folks who are far more expert than the average reporter. we can make our own judgment. stuart: the president suggests we pay the nonvaccinated $100 to take a jab. what do you say? >> not sure about that. on the other hand it would be effective. i said did a study among children, everybody said kids
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don't want child, we compensated $25 a visit and it worked. people were lining up to join. it would work. society has to figure out if they want to take that route and not think about it. stuart: do you have any fears about vaccine mandates? >> it depends how it is implemented. clearly a private business has the right to do that because they already mandate flu shots. if it is a federal mandate everybody shall do what i have a problem with that but for private entity to protect the patients we treat everybody needs to be vaccinated that is okay. we already do that. stuart: in light of these new reports on the delta variant i expect to see more people wearing masks in the street. i expect to see some pushback
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in favor of masking up. >> i can tell you some events are being canceled in louisiana. people who are concerned, the pastor said we will have more people joining online because people are concerned about delta. stuart: that could slow the economy. >> tiger stadium, what we've been sitting next to for 15 years. the couple from louisiana in my case, if there's a mask mandate, you will have less economic activity, you won't have groceries being purchased, a single example to prove the full that that will slow the economy. stuart: it seems we are taking a couple steps backward at this point. thank you for being with us. this one is important too, one state has ended its federal
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unemployment benefits, one state which ended its federal unemployment benefits early has been ordered by a judge to reinstate those payments. dagen: arkansas because of a lawsuit filed by five plaintiffs they want those jobless benefits back after the governor ended them at the end of june, not just arkansas but pending legal decisions in terms of restating the extra weekly benefits in maryland and indiana but half of us states to get people back into work. stuart: this judge in arkansas, the same -- what happened in ohio. >> a different story because in ohio the judge sided with the governor saying he has the power he wants to end them early and businesses agreed
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with the call, unemployment, you can't refute stats and facts, unemployment dropped from 16% in april to 5% in june. you want people back to work, they are saying good call to the governor. stuart: different story in arkansas. let's look at futures, we have a serious drop for the nasdaq and big tech generally. we will follow that after this. ♪♪ ♪♪ we've got everything you need ♪♪ here we go ♪♪ 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.
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stuart: amazon way down. pandemic buying slowed down, that hurt the stock 7%. ryan pain, what is the amazon selloff. cell about the overall market. >> they did $100 billion in revenue that makes you want to build a space rocket and go to space. the numbers were so phenomenal for amazon it was upon revenue.
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they are up 40% the quarter before becoming a victim, they are getting so high at this point, analysts expect such high numbers that is hard to deliver on those numbers. the stock traded 60 times or earnings. in all these big tech stocks their valuations are so high, the victims of their own success. stuart: would you buy amazon at $3,300 a share? >> i probably would. it is analogous of microsoft. back in 2000 microsoft was trading 60 times earnings like it does today but the valuation was so high stock did nothing for 14 years and tripled sales, same problem with big tech stocks. stuart: you are the kind of
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robin hood supporter, 38 yesterday, got it at 3486 today. would you buy robin hood this morning? >> not to be a buzz kill this morning, the problem you have a stock that trades a huge multiple, which is astronomical, look at 2 thirds of the revenue it comes from payment for order for so they send all their business one marketmaker but there is no competition, the sec is concerned about that because a lot of the revenue in terms of the trade. 6% of the revenue came from dogecoin. a lot of their revenues are from more speculative parts of
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the market. you've got a lot of speculation, very far away. stuart: you are not a buzz kill, just offering an honest opinion. hope you come back to us soon. "the opening bell," he will reach forward and press a button. the bill is ringing, 6 seconds to go friday morning before we close trading on wall street. it has been good so far. we have that opening bell ring, 90 points, puts us below the 30,$000 level and i can see the red ink at dominates the dow 30 about 2 thirds /3 to 3/4 are in the red. the s&p 500 coming off and intraday all-time high will over half of one%. show me the nasdaq, down one%,
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156 points. robin hood open for trading at $34.70, not so bad. let's go through this. big tech, we are off all across the board, all down. >> we had a blistering 6 months, you got the confirmation they are doing well, out for a bit, microsoft, making tons of money and what about the spread of delta variant, it spread more rapidly so businesses don't reopen as soon as people expected that will have a tent on the economy and purchasing by consumers. stuart: amazon down 253 points.
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dagen: we saw a billion-dollar sales court, a fourth one for the summer time. stock is down because the expectations game and the metrics have been incredible, you saw amazon web services cloud growing at 30% even faster than wall street predictions threatening google and facebook jumping 80% in the quarter adding 50,000 workers still making tons of profits but if you look at how the analyst community is reacting that is a tell to humble is the stock is. they been overestimating their earnings. you didn't see this reaction with apple or microsoft earnings that came into raise their price target. stuart: they expect the price to be above where it is now
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even though they cut the target price. >> they were producing 5000. stuart: an interesting question. the king of cloud, why not buy it when it dips 7%? >> it is 3300. that is a headline. stuart: show me pinterest, they must be losing users. >> they can't keep up with pandemic growth, the same theory for these big tech companies including amazon, they went down 5%, it is down from april when the number pushed closer to half 1 billion. you could follow the making money. in terms of analyst calls they
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are cutting their price targets, that tells how bullish the stock might be. stuart: assuming we believe what analysts tell us. >> that moves money. stuart: let's look at the dow winners, 30 stocks, they are down, there is no big tech on the list. the s&p, where are the winners, topped, tapestries in their, polo, rouse lauren in their as well. looking for big tech in there. usually nasdaq winners have the major technology names, not one on the list. bitcoin still below 40 grand, 38780 to be precise. susan tells me it is a winning
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streak. stuart: how volatile this is is impressive, the longest since october of 2015 and heading into weekends, should be pretty volatile. an interesting story on bloomberg that says after the attacks owned by a mind billion-dollar billionaire and those are easy ways to sidestep the irs and regulations and government tracking. it is not that hard. as money is coming from big tech, it might rotate to another pipeline like crypto. stuart: let's talk the return to work. we brought you stories about major employers delaying their return to work. now we've got uber doing the same thing.
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>> delaying it by a month. late october globally and all employees like facebook and google coming back you have to be vaccinated. that the pushback from december 13th in line with other silicon valley giants. stuart: it is a further delay and got to get back in the doors. stuart: on wall street the first to say that. stuart: tightening up all around. that might have a negative impact. >> what about mandating of vaccines. will that go to court and someone will sue? stuart: this is the united states of america, 1 million lawyers get business out of this. texas roadhouse, strong revenue. they expected costs to continue to rise, that takes the stock down 6%. check the big board.
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we turned around, now we are in the green. only just but that's a turnaround. the 10 year treasury is one.25%, price of gold down 1829 around, bitcoin, 38,$700 and oil, a gallon of gasoline, national average of $3.17 per gallon. friday feedback, why they want to move out. op-ed in the new york times, there is no good reason you should have to be a citizen to vote. that would be a radical change, wouldn't it? foreigners could vote in all elections. i pass my judgment on that in
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visit indeed.com/hire stuart: women soccer team playing the netherlands, they are doing penalty kicks and america leads in penalty kicks. we have more important things to talk about which is money, markets are open and the nasdaq is down 134 points. elon musk's brain computer startup narrow link raised a great deal of money. drag your self from the tv.
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>> the ruling crazed $200 million from adventure funds, what it plans to do his implant chips into the brains and heads of individuals with neurological features with spinal cord injuries and artificial intelligence. stuart: i think that's exciting stuff and so is this was a company called synchrotron which beat elon musk in this race to test brain chips. the ceo, doctor thomas oxley joined me now. you have fda approval for this interface between the computer and your brain. i think this is a big deal. how do you get a computer to talk to your brain? explain it in layman's terms.
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>> truly revolutionary technology, people suffering paralysis so it creates a direct connection from the brain to individual devices that improve independence. stuart: i have a computer, you can link it to my brain and you can tell my brain to make my left leg move or my right leg move. can you do that? >> your brain is telling your hands to move. once we digitize that signal out of the brain we can turn it into a command signal. stuart: it seems to me this really is a breakthrough. are you a public company? >> we are not. we did a series a couple months back. stuart: i you thinking about going public so people can get a piece of the action? >> we have just received the
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first green light to commence clinical trials in the us. stuart: what are you trying out in america? >> the implant comes through blood vessels our natural highway into the green. it is like that. it is a safe way for large-scale adoption of our technology toward the end of the year. stuart: can you give us a timeframe as to how long before we get these brain implants that work before we need them? >> the fda leading globally, moving along the pathway pretty fast. stuart: 325 years. what you've done is spectacular and we wish you the best of
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luck and the best success in the future. you've got to come back and tell us how you do it but this is an important thing. hope to see you again soon. >> the us is going to win. stuart: the us has won. not looking at that. the women's soccer team to beat the netherlands on penalties. have you seen this? house republicans protesting speaker pelosi's mask mandate, from the house where their mandatory where the senate are not. florida congresswoman joins me now. are you willing to get arrested by walking on the floor of the house with no mask? she will join us shortly. i lost my train of thought. an internal memo calls the delta very and as contagious as
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stuart: we are talking about the cdc report saying the delta variant is as contagious as chickenpox. let's bring in doctor marty macarry. the delta variant is more contagious, more likely to break through protections accorded by vaccines and cause more severe disease and all other known versions of the virus. we are setting up a new round of restrictions. >> this is the first time in history we impose a tremendous amount of restrictions on everybody in order to reduce the risk of infection among a small percentage of the population who has deliberately chosen a riskier path in life. we haven't, what with influenza or those refused to get the flu shot are those who are
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noncompliant with medications or choose to smoke or don't wear a helmet so this is an unprecedented time we are in. those who are immune can feel good about that level of protection. stuart: bearing in mind this new data we will get more information on it, doesn't that justify more restrictions? >> we've always known covid is contagious and delta is twice as contagious. the fact that you engage in more a symptomatic transmission, give it to somebody even though your vaccinated and feel great is something that hasn't been studied but so many positive tests have mild symptoms that we suspected this to be the case of this is nothing new. stuart: president biden calls this a pandemic of the unvaccinated. >> we are not fully out of the
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woods yet. what is happening in america is a pandemic of the unvaccinated. a pandemic of the unvaccinated. stuart: the president says it is a pandemic of the unvaccinated. >> that is the misnomer. these are outbreaks that are regional. it is 10% to 20% of the adult population that does not have immunity. natural immunity, in that speech yesterday you heard the administration affirming this inexplicable denial of natural immunity. of the government is playing so hard to get people vaccinated i agree with that plea they should issue fda approval. you have a totally hypocritical message telling the general masses that it is safe and everyone should get it and yet the fda not issuing full approval which is being held upon a bureaucratic checkbox
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which is stability testing which expiration date, how long can we extend beyond the current expiration day. stuart: no scientific data to support calls to mask young children in school. >> we haven't had it, it is $42 billion a year spent by the nih and not a single study ever done on masks and kids. we can extrapolate but kids are an efficient transmitters and in the wall street journal i wrote we don't know if any healthy kid has died of covid. i of to see the breakdown of the 335 kids who died of covid under 18 in the last year and a half. the cdc director was asked how many were healthy and she said i don't know. stuart: thank you for joining us. i'm sure we will see you again soon.
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in new york city on broadway cast and crew members will be required to get the jet. all theater workers weekly test as well. there is another restriction coming in. another vaccine requirement in new york city. >> netflix doing the same. stuart: restrictions are coming back and i suspect it delay the return to normal. >> we had governor cuomo say he wants workers back in the offices to help the new york economy. will private enterprise go along with the mandate. stuart: i think they will in light of the new report the delta variant is more contagious. in light of that data i suspect that is what we will be seeing. more restrictions. check those markets.
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nasdaq down 89 points. that is a come back. tammy bruce coming up, florida congresswoman coming up, john tapper and senator bill haggerty from tennessee. next. ♪♪ with barely a bobble. lucia. who announces her intentions even if no one's there. and sgt moore. who leaves room for her room. with usaa safepilot, when you drive safe... ...you can save up to 30% on your auto insurance. get a quote and start saving. usaa. what you're made of, we're made for. we did it again. verizon has been named america's most reliable network by rootmetrics. and our customers rated us #1 for network quality
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♪ don't bring me down, no, no, no, no ♪♪ stuart: good morning, everyone. 10:00 eastern. straight to the money. are have a look at the markets, please. the real mover here is the nasdaq. it's come back a little bit. it was down well over 100 points, it's now down 79. that's because big tech almost entirely is in the red. look at it, that's all red. and especially amazon down $246, that's a major drop. 6.8% lower on amazon after what's called a lackluster earnings report. certainly lackluster guidance for the future from amazon late yesterday. the 10-year treasury yield this morning is at 1.24%. just in to us, the latest read on consumer sentiment, an important indicator. good morning, lauren. >> good morning, 81.2 for the month of july. this is how you feel about the economy. the last time they did this
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reading, inflation obviously a major concern, but it was inflation as it hits the price of the home, the item you put into the home, and the other thing they pointed out was inflation as it hit the car market. came back a little bit, but no doubt ininflation -- stuart: i would have thought consumer e confidence would be a plus for the market. not yet had much of an impact, not much. >> well, the june number was over 85, so you're going from 85 and change to 81 and change. stuart: okay. that doesn't look good, does it? thank you, lauren. now this. now we have the data behind the decision to go back to masking. an internal study at the cdc has really set the alarm bells ringing. the delta variant is as contagious as chickenpox. it is highly transmissable especially for the unvaccinated. it can breakthrough the protection that vaccination provides. in other words, you can get it and you can carry it even if you have the jab.
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and it may cause more severe illness than all other known versions of the virus. this is why the cdc recommended wearing a mask indoors in public places even for the fully vaccinated. this data gives state governors and big city mayors the science to reimpose mask mandates and probably vaccine mandates too. democrat states and cities will claim vindication and will push hard to bring back the mask. republican states will be playing defense. but the biggest impact will be on the return to work. we've already seen some big employers delay their return. that may spread, actually, it are is. so we -- it already is. we will be pushing normal well into the fall or maybe even winter. think about the office worker who's been on remote. they'll surely be reluctant to come back, and employers will be unwilling to face the inevitable lawsuits. this is a pitched battle coming.
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do we go backwards in fear of delta, or do we go forward, toughing it out, maintaining our individual freedom? it's going to get intense. it is a testing time for us all. the second hour of "varney & co." is really just getting started. ♪ ♪ stuart: all right. friday morning and you know who's with us, that is tammy bruce with us this morning. tammy, it looks like we're going to go backwards with this new data. don't like it, but it looks like we're going in favor of more restrictions, more masks, more vaccination demands. what say you? >> well, we'll see because on the ground here, and i heard your monologue, of course, but on the ground we see very different data versus what you've described. in fact, yes, cases are up because delta is more contagious. but hospitalizations and deaths
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are flatlined or even in some cases going down. so in what you described, you would expect to see a graph of cases going up as they are and a correlate aring hospitalization and death rate as well. so it's, you only really hear about case numbers. and that piqued the interest of many people including some reporters in the legacy media for once, was, you know, this dynamic of it being more contagious. but they're only talking about cases when they speak, hay don't talk about hospitalization numberses or death numbers. and this is key. it's not as though delta has just knocked on the door. it is over 80%, the cdc says,es of existing covid cases. so it's, i think we need and we will, i think, see more. there's also concern about the nature of one report that apparently the white house said that they had been using for this without giving the details,
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but the details were received, they were either leaked or people researched it, and it was a report, a study from india that used a vaccine that we do not use here in the united states and tested in that kind of a framework. and not even on human beings, but in a model. so there's concern that the data that's being used, the science -- and it was also peer-review rejected. so we need to see more when it comes to what it is they've used to back up those remarkable claims you detailed, and they are making those claims in the cdc. and yet on the ground we don't see it manifesting in that manner. stuart: i just feel that this information will be used as a reason, an excuse, if you like, to reimpose mandates. >> oh, yeah. stuart: president biden has revealed he's open to returning to lockdowns.
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we don't have much time left, but would that be a good move, a good political move? >> no, yeah. no, that's very strange. when you're relying on data that is that questionable, it does mean this is political. and the strange thing is of course he's signaling that. they look, i believe, for data and information that would allow that. but this is not only a politically strange decision, but the american people have complied. we know how dangerous covid is. but it's being used in a a way as a threat to the american people to get the vaccine. but people have very serious personal reasons if they have not received it, and i think that after everything that we've done and the data that we do see as the american people, we are beginning to question the veracity of the data across the board. this kind of approach affects our view of the country itself. we see team usa faltering,
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commentators saying they hope that the olympics, to olympic team doesn't do well because we deserve to be punished. i'm concerned about an underlying attitude that is pushing us also into this you better retreat because, in fact, america doesn't deserve to be on her feet. american business can't survive is it, the american individual, it will not do well, and i think that we are getting to a point -- none of us want to be halcontents -- malcontents or refusers, and i think we tonight want to be in that position of name-called and threatened because of a personal decision in this serious environment. stuart: you're right. i think it's going to be a pitched battle. and and, by the way, tammy, we will be watching you tonight9. i know you're hosting fox news prime time, 7:00 eastern on the fox news channel. thanks for the being with us this morning. appreciate it. >> thank you, sir. stuart: back to the markets. not a big selloff, the nasdaq's down, what, i'm squinting here,
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57 points. and the gentleman on the screen, jonathan hoenig, who joins us on friday morning. jonathan, i read your stuff. you know that. the drop in china stocks has you concerned about the markets here. really? what's the connection? >> well, look, stuart, i've been concerned in general, and i know i sound a little bit like cassandra, that greek god december who was -- goddess who was left with privacy, but no one would believe her, i've been getting it handed to me because i've been short and i'm still short. look, the market is an interconnected whole, and i think we're kidding ourselves if we don't think that a 20% drop in the value of chinese stocks doesn't have anything to do with our own market here. the fact that chinese stocks -- and i know there's a political reason there in terms of economic liberalization, but that underperformance really worries me on top of the fact that just the majority of stocks here in the united states are still below their 50-day moving average. so momentum has started to shift
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downwards, and that's why with i remain short in my fund. stuart: in other words, you're betting, i hate to use that word, but you're betting, speculating that stock prices go down. that's your position in your fund at this moment, correct? >> yeah. yeah, indeed. you always start with small positions and talk with a financial adviser, but i'm seeing a number of indicators that have really raised my red flags, if you will, and one of them is the story you've been covering closely, the performance of these recent ip os like robinhood, one of the biggest openings for a big ipo in history. and coinbase, remember that one? that was the big thing, and it's still below its ipo price. i saw the same thing in march of 2000, hot ipos that traded down. i remember palm was a great example with the palm pilot. still got me short. >>, still got me worried, but i'm getting my ass handed to me in the last couple weeks, that's
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for sure, if i can say that. stuart: 40 nicely put -- how nicely put, jonathan. [laughter] a family program. i think you're all right, and we look forward the seeing you next week. >> be well. stuart: good morning, lauren simonetti. >> good morning. stuart: what have you got? >> exxon, best quarterly profits in more than a year. plastics, their chemical business, plastic used in everything from outdoor furniture to the pipes in pools, so huge, the price increase, record earnings for that group. stock is down, why? why is it down almost 1%? cap-x spending was a little light, maybe investors don't like that. stuart: tell me about procter && gamble, because they dominate every shelf. >> gillette, we like to shave. earnings beat, higher demand for skin care, for health care products. but this is what the ceo said on the call, quote, we are addressing the need for additional, additional pricing moves on top of all the ones they already made because they
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say they took a $2 billion hit e from higher prices, higher shipping costs. stuart: so he's saying he'll raise prices. i don't know -- >> why not? stuart: that person will raise prices at procter & gamble -- >> as far as they can -- stuart: well, that's good for the stock because the revenue's going to go up but not great for the economy because it means inflation. >> yeah. stuart: pinterest, are they -- yeah, they're now down about 17%. >> that's ugly. so the best might be behind them, basically. you know, when we were all lockedded down, online using pinterest, they're warning of decelerating user growth. so the lockdown, those benefits were transitory. stuart: i don't know what pinterest does. >> it's like a personal page of things that you like whether it's -- stuart: an information board. >> an information board. stuart: what was that again, producer? >> i'm blanking now -- stuart: it's an ideas board. >> thank you. i always post if i'm redecorating something what i want the room to look like.
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a lot of people have boards for their wedding. ideas board, thank you. stuart: amazon as well? >> i decided to end with pinterest because it's a great segway to amazon, that decelerating growth. amazon posted their third $1 is 00 billion quarter in a row. that's amazing, right? why is the stock down almost 7%? yeah, because the growth is so fast, it has to eventually slow down, and it is because people are going outside of their homes, right? economy reopened. and i think that was one of the reasons they saw it would be bad, so i think they decided to pull forward prime day, but that underwhelmed as well. i still consider that amazon is the fabric of our lives type of company. you really can't hit them that hard, even though the shares look ugly today, for the past 12 months they're set to beat walmart when it comes to annual sales. you can't expect this growth to just continue and continue.
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what's the next catalyst for amazon, and it could be the fact that, yeah, they hired 64,000 workers in the quarter. that's inflation. that's a big element of cost for them. they do more automation, that's bad for humans, but it's good for investors because it protects your margins more. stuart: the stock, they reported their earnings, the stock dropped like a stone. it opened for business this morning still way, way down, and it has no bounce that i've seen in the last hour -- >> and that's $111 billion in market cap just wiped off. stuart: just like that. bear that in mind. thank you very much, indeed. according to one new york times op-ed, you shouldn't have to be an american citizen to vote. i have a strong opinion on that, and i will express it later. free money. squad member pushing to make guaranteed income a thing for most americans. we'll deal with it. speaker pelosi has brought mask mandates back to the house floor. she means business.
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if you disto i bay, you could be arrested -- disobey. my next guest is in revolt, a florida congresswoman is here, and she's next. ♪ she's so high, high bo -- above me, she's so lovely. ♪ she's so high like clee pat a rah, joan of arc or aphrodite. v. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be a mess. i mean for starters, porcupines are famously no good in a team setting. geico. save even more when bundle home and car insurance.
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♪ stuart: all right, the markets are still in the red are, but it's nowhere near as bad as it was 45 minutes ago. nasdaq's now down 70. big tech though still a mess, all red. amazon is down 244 points after a disappointing earnings report late yesterday. the rest of them also lower but not as much. in a new memo, capitol
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police being ordered to arrest visitors and staffers who refuse to mask up in the house of representatives regardless of vaccine status. ing congresswoman cath ca mack joins us now, republican from florida. you received that memo, and you're -- you said you're not going to mask up on the floor of the house of representatives. i don't think you'll be arrested, it's only staffers and visitors who will be arrested. you're not risking arrest are you? >> no, i'm just risking getting reported to the sergeant at arms who will then report to nancy pelosi who will then attempt to fine me, but as i said, i will not comply. yesterday a police officer early in the morning stopped me and said, you've got to see this. we were told during our roll call that we are now to arrest staffers and visitors who are not wearing a mask even if they are vaccinated. and when i asked about members, he said we're supposed to report you immediately and possibly
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even take photos if we can get them. i mean, this is nuts. nancy pelosi cannot treat capitol police like the mask police, her own little personal, private army. that'sly tick house. stuart: why is it that you've got a mask mandate on the floor of the house of representatives, but 90 yards away on the floor of the senate, no mask mandate. how does that happen? >> i think it's that magic pixie dust that resides between the house and senate. you know, the senate has not really been known through the years as a progressive entity that, you know, really is forward thinking and moving ahead. normally the house is the first to lead when it comes to these kinds of issues. but for some reason, covid just stops in the senate. so we took the liberty of marching across from the house to the senate and back again really demonstrating that we will not stand by while nancy pelosi uses a political agenda with a predetermined outcome to enforce her will on the american
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people, really us as representatives and our teams that represent all of america. that's ludicrous. she's not following science, she's following political science. stuart: you got it. i'm sure you saw this, but i need your comment on it. a new york times piece argues that noncitizens should have the right to vote. that means -- i've read the article -- 15 million basically foreigners would be given the vote in the united states. what say you about that? >> well, you know, i can tell you this, the 14th amendment, specifically section one, is pretty clear and plain about it. you have to either be a naturalized citizen or born in this country in order to exercise that precious right to vote that is guaranteed to us as americans. so unless they want to do a convention of states and change the constitution, they need to be quiet about that because that is not ever gonna happen on our watch. every single one of us takes an oath to uphold the united states constitution. they'd be best served to start by reading it. stuart: you can see where they're going with this. >> oh, yeah. stuart: this is "the new york
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times." this is the newspaper that brought us the, what, the 1619 project which then gave us critical race theory. now you've got this idea that foreigners can vote in our elections. personally, i think that's the reason why they leave the border, our southern border open, because they want foreigners to come on in and vote democrat. am i too far off base with that this. >> no, absolutely not. you know, we've already got a million just this year that have crossed over, been apprehended and released. we're looking at potentially two million by the end of year. when you think about it, this really plays into a their ative that is beyond voting. -- a narrative that is beyond voting. these folks have no resources. they're literally being ushered aconscious apprehended, given a plane ticket paid by us, the taxpayer, and going into our communities where they're dependent on our social services, they're dependent on medical services, a public education system. this is all provided to them. this plays into the real agenda of the ultra-liberal left. they want control and power, and
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that starts with people that are dependent on the system. that is why i think this is so dangerous in addition to it being a humanitarian crisis, a public health crisis and, of course, a national security crisis is. so i think you're spot on with that assessment. stuart: congresswoman, you make a lot of sense. please come back soon. you come back soon please. we'll see you again. >> have a good weekend. stuart: thank you. now this. the bipartisan infrastructure group facing criticism from the squad, it's not over the bill itself. oh, lauren, don't tell me, is this about skin color? >> i'm going the tell you and i'm going to show you. congresswoman cori bush from missouri, you're looking at her, she's outraged over the whiteness of the group of senators. this is what she's tweeted: is this the bipartisan infrastructure group or the audience at a kid rock concert followed by the hashtag negotiations so white. okay. it seems the congresswoman and other progressives are completely defining party lines by race, and this deal to them
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is not about bridges and tunnels, it's about divisions between communities. divisions between americans. stuart: we didn't need this. it's tough negotiations. we didn't need the division over the color of your skin. >> $973 billion at play. stuart: thank you, lauren. wait a second, there's more for you. 9 another squad member, ilhan omar, she has a bill that would give, give most americans $1200 a month in guaranteed income. is that forever? >> until the $2.5 billion fund runs out. it's a four-year pilot program and it gives guaranteed income if you make up to $75,000. then in the year 2028, the bill sponsors want to take their plan national. we've had such great success, let's give $1200 a month to the heads of household making less than $112,000 plus $600 for each kid. so they say, look, i mean, we
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had three stimulus checks, those worked -- and they did -- but you can't keep that going forever. of course if you give people money, it's going to make a difference in their lives, but where that's -- where's that money coming from? >> and why work? if you can get $1200 a month and $600 for each kid, why make more money? why advance your career? stuart: you're killing me. >> it's true. stuart: you're dead right. what's behind the rise in violent crime? one south carolina police chief says it has a lot to do with releasing repeat offenders. watch this. >> we arrest them and they're not staying in jail. what happens when they get out? they continue the crime and the victimization and the violence. somebody needs to step up and keep these people in jail. stuart: charleston's police chief, luther reynolds, is going to be here shortly. and the delta variant surge, will bars and restaurants start to turn away unvaccinated
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customers? governor cuomo in new york is considering just that. i'm going to talk to "bar rescue" host jon taffer. he's back and he's here after this. ♪♪ we did it again. verizon has been named america's most reliable network by rootmetrics. and our customers rated us #1 for network quality in america according to j.d. power. number one in reliability, 16 times in a row. most awarded for network quality, 27 times in a row. proving once again that nobody builds networks like verizon. that's why we're building 5g right, that's why there's only one best network.
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♪ stuart: all right, we always check the markets frequently, especially when we come out of commercials. we're still on the downside. the dow actually falling some more, now it's down 100 points. 9 and the nasdaq is now down 8 a 5, so there's been a bit of a trip south in the last few minutes. caterpillar and boeing both dow stocks, both down. together they save about 60 points off the dow industrials. there is one bright spot though, and that's procter & gamble. it's leading the dow, and it's adding 25 points. the company will be raising prices in the future, so the stock goes up 2.5%. and then there's this, as the delta variant surges, many businesses float the idea of mask requirements and even mandating vaccines for employees. "bar rescue" guy jon taffer is back.
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he's got firsthand experience. he joins us now. jon, should bars and restaurants require staff to get the jab? what's your exexperience on this. >> well, i think we're getting there, stuart. there are a lot of legal issues on this. for example, franchise restaurants, can they mandate this. there are some corporate and legal issues involved here, but clearly i think every day more restaurants are going in this direction. we're assessing it very heavily at taffer's tavern. technology, too, is major factor. we're eliminating employees with technology today which creates a safer environment too. stuart: what about unvaccinated customers? there is some talk of businesses turning them away. you can't come in unless you have got vaccined, vaccinated. what do you make of that? because that's a step much further down the restriction movement. >> yeah, that's a big step, stuart. you know, there's a geographical element to this. we have a taffer's tavern in georgia, and in georgia even
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during the pandemic if you mandated masks, there'd be a revolt in front of your restaurant. in other states that's not the case. there is somewhat of a regional or localized attitude to this. some markets won't tolerate it, i think others are going to demand it. stuart: what happens if people don't go back to work? we've got reports from all over the country that all kinds of businesses, especially restaurants and bars, you can't get people to come back to work. what happens if they don't come back to work? what are guys like you going to do? >> technology, stuart. for example, i was staying in a westin hotel last week in buffalo, and my room service waiter was a robot. my phone ring, they say your robot is at your door. you open the door and there's a robot in front of your room. you take the food out of the robot, the robot asks you how your stay is, when you say good, it gets really happy, it says it's going home now, the door closes and you see it go down
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the hallway. that'll eliminate six, seven, eight employees right there. cooking technologies which are now eliminating another one or two employees. when employees are unavailable, stuart, business can't stop. we've got to find solutions. so automation, computerization, robotics, all of these things are going to play very, very heavily. taffer's tavern is an interesting story because two and a half years ago during the trump administration unemployment was so low, we couldn't get employees then either. is so many of us started on this automation path a back then which is really paying off now. we have 60% less back of the house employees because of technology. every restaurant mole is one less mask -- employee is one less mask, one less point of contamination. in many cases it's the answer when employees don't come back to work. i think many of them are going to find their jobs have been replaced by machines. stuart: i know you started taffer's tavern some time ago,
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am i right in saying you've just introduced a new line of taffer's drinks, alcoholic drinks with your name on ?em i think it's hard soda, is it, that you've come out with? >> yes. a hard seltzer, taffer's carbonated cocktails, you bet. some of that is focusing on the fact that mixology, cooking is much more at home now. during the pandemic everybody was making drinks at home, cooking more at home, so there's this home culinary trend that's going on now, so we want to be a part of that. stuart: you, sir, are a major success. thanks for being on the show the past 5-10 years because you've been great for us. >> stuart, this is my 9th a-- 97th appearance. three more and i want a cake. [laughter] stuart: if you're not careful, or you'll get one. john tear, what a guy. see you again soon. cdc recommends k-12 students mask up in school regardless of vaccine status, but they stopped
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short of releasing guidelines for youth sports. interesting. ya hu's in new york. -- lydia hu's in new york, you're talking with coaches, parents, and they don't know how to prepare for sports this fall. tell me. >> reporter: exactly, stuart. they are frustrated, they're concerned about what mask mandates could mean for students particularly in contact sports like football. last year many of the youth leagues were canceled or operated with restrictions in place. only this summer that coaches and parents tell me that practice has resume ised without masks as the vaccines have become available to kids 12 and up. the possibility that masks could return even for vaccinated students corns them. concerns them. >> the it's the human element of it. so there's a physical aspect, there's a psychological aspect, there's a communication aspect. there's so many aspects that you'll lose when you put a mask on somebody. >> we are thinking of masks now as something -- i don't know how you execute that.
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>> reporter: coaches say that without clear guidance from the cdc right now about masks for kids in sports, they're waiting for local districts to issue directions. some worry that the confusion and the possibility of the masks being mandated for kids will lead to lower enrollment, stuart. stuart: yeah. confusion is your headline. lydia, thank you very much, indeed. and then there's this, scarlett johansson is suing disney. she's not happy disney released her movie, "black widow," online and in theaters at the same time. it affected her income. plus, suni lee brings home the gold in the gymnastics at the olympics. no advantage djokovic is out and the women's soccer team is in the semifinals. plus, an american swimmerrer is calling out -- swimmer is calling out doping in tokyo. we've got all the olympic headlines for you after this. ♪ ♪
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♪ stuart: we always check the markets on the way out of a commercial, we're doing it now. dow's down 60, nasdaq's down nearly 90 points. show me walmart, please. they're going to encourage but not require customers to wear masks in their stores. they will require workers to wear masks in high-risk counties. no impact on the stock, 142 is your price. new cdc documents warn that the delta variant is as transmissable as chickenpox. even if you get the jab. steve harrigan is in atlanta. what do you have? what's the latest? >> reporter: stuart, we expect the cdc at some point today to publish that data behind its shift in recommendations when it comes to mask wearing for fully vaccinated americans. the cdc has taken a good bit of criticism for making a recommendation shift on mask
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wearing before making that data public. >> well, my major concern is we had a incredibly important policy announcement by the cdc to recommend mask wearing even for those who are vaccinated, but they have supplied zero data, no transparency, no information -- >> why do you think that is? >> reporter: in the meantime, hospitalizations from covid continue to rise in the u.s., the seven-day average from the cdc puts it at about 3,500 americans each day being hospitalized for covid. the concerning point is that is a 32% jump from just one week ago. but in the larger perspective e, that number of hospitalizations is just about one-fifth of where it was at the peak back in january. one other statistic to keep in mind for the fully vaccinated, the odds of becoming hospitalized at this point extremely low, about 5,000 fully vaccinated americans
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hospitalized out of 161 million. that makes the odds of hospitalization at this point.003%. stuart? stuart: got it. steve harrigan, thank you very much, sir. we'll get a back to you later on. check those markets again and look at caterpillar which is a big drag on the dow. >> yeah, it's the worst performer, the heavy equipment maker. supply chain challenges are going to remain, and they can't provide a forecast even though sales grew across all of their businesses in all of the regions they operate. still the punishment is severe. stuart stuart american axel and manufacturing. >> supplying ev components to nio, up almost 6% on that news. stuart: and then you've got burger king, or their parent which is restaurant brands, i think -- >> correct. digital sales in the u.s. grew nearly 60 percent. digital sales up nearly 60% in one quarter, and one of the reasons was they had a new fried
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chicken sandwich that people liked. i'm pretty old-fashioned with most things, i like to go up to a person and place an order, but a lot of people are -- me too, i'm doing the digital ordering, and you go to the front of the line. right on your phone. stuart: an app on your phone, away you go, you pick it up by walking in the door. >> yes. don't have to talk to anybody. stuart: i could probably get into it. >> if i can, you can. [laughter] such a grandpa. stuart: i want you to deal with the actress, scarlett johansson is. she's suing disney, not happy that they released "black widow" at the same time they had it in the movies what's the problem here? >> johannson says because of that, a breach of contract, and it cost her $50 million. i'm surprised disney didn't just pay her, but anyway. so "black widow" grossed 60 million on streaming just on the
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opening weekend, and she was contractually a allotted bonuses, but when you have 60 million people watching on disney plus, it knocked off the numbers. disney says the suit is without merit, and she shows callous disregard for the pandemic. it was a pretty fierce response, but you have to think they're trying to send a message maybe to other actors that are saying, well, we're breach of contract too. it probably didn't take into account the pandemic and the streaming success that we have seen. stuart:9 i want to get to this story. >> okay. stuart: the olympics. this is you. you've got to brings us through -- djokovic lost. >> he did e to a german fellow in the semifinals. alexander -- [laughter] let me know how i did. so djokovic wanted the gold and slam, right? he didn't get it. he even took a really long bathroom break to mess up his opponent. didn't work. he was trying to -- stuart: gamesmanship there?
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he lost. >> he lost, exactly. stuart: gymnastics. >> love this start sport. so the 18-year-old gymnast suni lee, there she is, she won the most coveted gymnastics title, all-around champion. she said she felt a lot of pressure when simone biles dropped out. she didn't buckle, she became the sixth u.s. gymnast to win the all-around gold. and her dad made her a balance beam for the backyard. he just saw she was so good at gym e nastics and really encouraged it. and did you hear about ryan murphy, the swimmer? he took silver in the 200-meter backstroke. okay, great. then he said swimming is a race that's probably not clean. stuart: ooh. >> he said that which forced the russian who beat him to actually say is on the record that he wasn't doping. so he brought drug use into the race, and everyone's commenting on what he said. stuart: i bet they are. that's another sensation at the olympics, not necessarily a good
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one. >> i've been watching it. yeah, love it. stuart: now you tell us you're a gymnast. >> well, i've got the height. [laughter] stuart: thanks, lauren. the delta variant threatening kids' return to the classroom. yes, it does. i'm going to talk to the chief executive of pearson, that's a huge school textbook company. i'm going to talk to him about what another lockdown would mean for their business, just ahead. first though, from $100 cash to a $1,000 scholarship. are new incentives to get americans vaccinated actually working? i'll ask mike gun zelman, he's got an answer for us. ♪ this is the part when i break free -- ♪ 'cuz i can't resist it no more ♪ this is the part when i say i don't want to --
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♪ stuart: all right. the dow industrials are down 93, the nasdaq composite down 91. the s&p is down 19. plenty of red ink this morning. we told you on the program about all the incentives being offered to get the jab. president biden is now adding to that. he wants states to offer $100 cash to get the jab. fox news headlines 24/7 sports
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guy mike gunzelman joins me now. i know you live on social media, so -- >> yes. [laughter] stuart: -- what's the response to the $100 get the jab incentive? >> yes, stuart, i am definitely the social media guy. here's the thing, when it comes to humans in general, we love free things. look at the stimulus checks. people didn't go to work because they were getting free money handed to them. can and looking across social media, there's kind of a mixed reaction. will incentives work? yes, to an extent, but the reactions a coming from people like myself who were responsible and i'm, like, where's my $100? we have other people who think that americans kind of pathetic that we have to be bribed to get the vaccine. but the most important group and the most reaction is coming from those that are on the fence. and what we're seeing is that some feel that it's almost inevitable that they might have to get the vaccine anyway, so why not get it now so at least they're getting something in
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return. and i personally am likening it, stuart, to the carrot9 and the stick. i really i think that's what we're seeing right now. the carrots are the various incentives that are happening all across. for example, in new jersey we'll give you a free beer to, you know, new york city beginning today you can get $100 to even universities, awe one university, they're try -- auburn, they're trying to entice students with free meal plans or free parking if they get vaccinated. but the big thing is the carrot is quickly, quickly turning into a stick, and that's going to be in the form of mandates whether it's masks or vaccinations to you will not be able to go to a live event, you won't be able to go to a restaurant, and that's quickly what's going to to be happening. stuart: well, how do you feel about that? if you can't go into a restaurant, you can't do this, that or the other unless you've been vaccinated, how does gunz feel about that? >> i understand it to an extent, but it's frustrating because the
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messaging that's been coming out from the biden administration down has been terrible. they've done a terrible job of relaying this message being like, oh, if you get the vaccine, everything's going to be all right. that's not true now. i really think it's having an effect, hesitancy from people getting the vaccine because it doesn't work on the delta variant. now, of course, it won't keep you out of the hospital -- it will keep you out of the hospital, which is good enough for me, but there is some doubt. the biggest thing i'm seeing on social media is if they would just fully approve the vaccine, that would really help with people getting it. but because it's still in that experimental emergency authorization only, people are using that as a reason for why they might not get it. not everyone, but some people. if they could just approve it, that would help people that are kind of on the edge right there. stuart: how about this, gunz? i've been walking out and about a little bit in the last couple of days, and i'm sure there's more mask wearing in the last
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couple of days. have you seen the same thing? >> yes. i was actually at the food store last night, and the amount of people that are wearing masks now, literally a week ago nobody was wearing them unless, you know, a couple old people. now yesterday everyone was wearing them, so much so that i was, like, should i be wearing my mask? it's definitely picked up. also i was on a conference call last night with some pretty big music promoters and booking agencies because i'm big into music, and they're saying that the greens are going to be changing for live e -- guidelines are going to be changing for live events, they will be rolling outta that you must be vaccinated -- out that you must be vaccinated to go to concert ises. but because of delta variant, this is what's happening. they're already gearing up for what's going to be happening in the next couple weeks and months. stuart: here come the restrictions and the masks. gunz, that was a great report. thanks for joining us. >> thanks, stuart.
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stuart: okay. 10:55, almost 10:56. big hour coming up for you. we have tennessee senator bill hagerty, charleston police chief luther reynolds and the ceo of the giant publishing company pearson. plus, why doesn't the white house do more to stop the flow of illegal migrantses into our country? i -- migrants into our country? i think i know why, and i shall reveal it in my take, which is next. ♪ slow ride, take it easy. ♪ slow ride, take it easy ♪♪ ♪ introducing schwab stock slices. for as little as $5, now anyone can own companies in the s&p 500,
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>> reporter: when you are relying on data that is questionable it means this is political. not only a politically strange decision but the american people have complied, we know how dangerous covid is that it is being used as a threat. >> the market is an interconnected hole, we are kidding ourselves if we don't think of dropping chinese stocks has nothing to do with her own market. robin hood his game isifed the
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system. what this is done is everybody thinks it is a big game and in fact long-term investing is not a big game. >> the numbers are so phenomenal for amazon it was up 23% on revenue. problem is they were up 40% on revenue the quarter before and are becoming a victim of their own success. stuart: 11:00 eastern time, friday july 30th. the markets showing quite a bit of red at this moment, dow jones industrial average is down hundred points and the nasdaq down 110. it is a modest selloff the selloff it is. big tech in particular on the downside all the big names are down and down quite sharply especially amazon which is down $259, 7.2%, it is on pace for
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its worst days since may 1st, 2020. now this. we have often wondered why the administration does nothing to stop the flood of illegal migrants. personally i think they keep the border open because they see migrants as a future source of democrat voters and in the new york times today confirmation of that. there is no good reason you should have to be a citizen to vote. that is the opinion, she wants are green card holders, all work visa holders and all illegals who arrived here as youngsters to be given the vote, 15 million extra voters, probably 15 million extra democrat voters. the new york times's 1619 project gave us critical race theory, opinion pieces like this paved the way for noncitizen voting.
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that would give the democrats a huge block of new voters and she admits to that. democrats are likely to be the biggest beneficiary of this change. republicans suppress, redistrict and manipulate their way to electoral security so it is time for democrats to radically expand the electorate. know it's not. we have a vibrant democracy and we are trying to keep it that way. her opinion in the new york times is an invitation for noncitizens to keep pouring across the southern border and for foreigners to change america. it is the end runaround our constitutional republic, to give the left more power. watch out, the opening shot, it will not be the last.
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♪♪ take a look at this headline from the wall street journal. a not so grand infrastructure deal, the gop gets roads and bridges, democrats a green bonanza and more. senator bill haggerty from tennessee with us. mister senator, formal debate begins on the bill in half an hour. will you vote for it? >> what they will propose is not the bill, they will put forward a shell bill which has no text in it, no detail how it will be paid for. i don't think the american people sent us to congress to vote for things we don't understand is it feels reminiscent of a decade ago when nancy pelosi said you've got to pass the bill to see what is in it. we will find out what is in
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this bill. stuart: is that a vote or the start of debate? >> this will start the procedural process but they have yet to provide what the economics look like. stuart: you can't vote for something if you don't know what is in it. your introducing a bill that would require the white house to disclose how involved it is with facebook about regulating covid misinformation was you are saying big tech is becoming an extension of government. is that what your bill says? what does your bill do about it? >> it is picking up on the fact that the white house has acknowledged they are leveraging big tech, they will determine what they believe is inaccurate or unhelpful information and white house is using big tech, a blatant violation of first amendment, the white house seems to have forgotten that the government works for the people.
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it is not the other way around but what the white house is trying to do is use big tech companies like facebook to do a end runaround the first amendment to censor and squelch our opinion, our thought. this is wholly unacceptable and we will force them to disclose. stuart: forcing the white house to disclose the relationship with facebook. >> the american public needs to know when the white house tries to influence public opinion by using big tech to censor us. white house has lost touch with reality. the government works for the people, we do not work for the government. stuart: five years from now do you think big tech companies like facebook, amazon, will still be intact as they are today, still doing the same things they are doing today or can we really expect real change? >> i hope there will be real change. i introduce legislation that will essentially treat the big tech companies like common
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carriers, for some to provide nondiscretionary access to all players and what it will do is force them to take away the section 230 protection and make very clear the criteria they are using to, quote, moderate content. today what they do is have an excuse, an opening, called a loophole for anything they find otherwise offenseable, something very ill-defined, they don't make the criteria clear and they use it as an excuse to essentially censor conservative voices. my legislation would bring that to a end. stuart: thank you for being with us on a very important subject, we appreciate it and hope to see you again. let's have a look at big tech all down today. i see amazon down $251 per share and look who is here, the usually bullish brian belsky who joins us now. which bit, is there a single big tech company, the big 5, a
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single one that you would buy right now? >> good morning. amazon still is very strong with respect to its growth rate longer-term. on a comparison basis it will have tough comparisons compared to what happened at the depths of the covid pandemic last year but amazon is not going away. they are going to get stronger in terms of the new product offerings so amazon is important to the retail sector and the cloud as well. we would be actively adding the position. stuart: you will buy the amazon dip. we don't have much of a dip in apple, 145, not much of a dip but would you buy it anyway? >> we would. apple is one of those names we have a core position in as we do amazon, google and microsoft, in terms of their
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wherewithal. in september and october the cash flow along with that company is more of a value company, we like that longer-term. stuart: it can't go on, huge increases in profit, can't keep up that pace forever, can they? >> they can in the case for breakup from a legislative standpoint, we are not going to get in the way of politics and things like that but you may see a breakup in terms of services versus hardware in some of these companies especially at the service side of things continues to grow and it is about content content content, focusing on the prior segment in terms of for political content the content is king with respect to these other names like netflix, disney and comcast and even
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fox, content on that side is where we are spending money and that is where apple will get stronger as the years go on. stuart: you've always been. on the overall market. are you still. can we keep going higher towards the end of this year and into next year. can we do it? >> we can do with a 4500 target on the s&p, we've seen the majority gains for the year but as the market grows into itself and earnings continue to catch up where prices have been, this is a logical time for the market to slow down. we are not calling for deep correction like everybody else. we just think people are trying to be too cute on calling for 10% correction, we think the market grinds higher but still very positive longer-term. stuart: we will take a grinding higher over a big correction any day. thanks for joining us, see you again soon. you've got the movers today, robin hood.
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>> second day of trading. they hit a new low of 7325 after pricing at 38, little demand, lots of regulatory risk and lawsuits. stuart: and no bounce. stuart: a lot of retail traders, they were not home as much so they can do other things and support the gamble. a distraction diverting their attention from the meme stocks. stuart: it is segment of the market. >> there are the meme stocks and robin hood traders, big tech companies in the regular markets. stuart: i'm in the big tech company. michael coors runs capri holdings, up 11%. >> they raised the revenue forecast for the second time this year, they had extensive handbags and people are buying it. stuart: vf corporation. clothing?
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>> your grandkids, van sneakers doubled their revenue bloogestimulant double revenue overall and raised guidance but this is why stock is down 6%, the supply chain constraints, all of that isolated product delays. trying to figure out which product you can't get that isolated products, other countries shutdown, lockdown because of covid, workers don't show up they can't get out of here. stuart: you've got great products, the market loves them, people are buying them but you can't get your stock to go it because you can't supply those great products. >> exactly. stuart: didn't realize it had gone to that degree down 6%. a large crowd, huge actually.
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the city could issue new mask guidelines, rules as soon as today. we will tell you what the festival will do about that. a lot of people right there. president biden says he wants kids back in the classroom. role tape. >> we can and must open schools this fall full-time, we can't afford another year out of the classroom. stuart: a giant publishing company pearson works with students. what would another round of school shutdowns, closures, mask wearing, what would that do for their business. i will ask the ceo and the bird. the police chief in charleston, south carolina says of the violent crime wave sweeping the nation and he's fired up and is on the show next. ♪♪ come on and rescue me ♪♪ come baby and rescue me ♪♪ ♪♪
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hot dog or... chicken? [ squawk ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ as we rest them and they are not staying in jail, there getting out every time and i'm tired of it because what happens when they get out they continue the crime and victimization and violence. stuart: >> somebody needs to step up and keep these people in jail. stuart: that is south carolina police chief luca reynolds railing against violent crime. chief reynolds joined me now. what changes to the police department or the rules do you want to see that would really fix things? >> thanks for taking on this topic and all you do and having
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me on. charleston is a safe city, we grit great support from our elected officials but this increase in violent crime, i talked to my colleagues from the company, we've had the highest level of violence in our state in history since they started recording it in 1960. it is worse in 2021 then it was in 2020. we have a lot of work to do. i believe there's a small number of violent criminals who are armed and dangerous, have no care about anybody but themselves, their drug trade, they gained, whatever it is. we know who they are and we have to demand justice. as a community mothers who lost their children deserve that and communities deserve that. our country can be better than this. stuart: do you feel the people of charleston are with you? i ask this because the media,
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the vast majority of the media does not cover this spike in violent crime but it is what everybody is talking about all the time, violent crime come major concern, the topic of conversation. are the people charleston behind what you want to do? >> i would say 99.9% of the people here are behind the police. our mayor, our city council, our community groups, i hear it all the time, we don't normally want less police, we once more police, we want to be treated with dignity and respect and make sure you're doing it right, get out of your cars and get on bikes and get out on foot and helping us, helping our children, no parent is okay seeing these young people die. i mentioned this, i get so passionate about this, these
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young kids it is not natural to see a body in the neighborhood and then take a test in school. these young kids have ptsd, they are struggling with stress, they thinkable that is going to come to their window, can't sleep some of them and it is cascading that affected is generational and it is not okay. we all need to help each other and have better outcomes. stuart: thank you for being on this program, for speaking out as you are. we appreciate that and hope you come back soon. quick check of the markets. a lot of reading, dow down 70, nasdaq falling 114 points. target going to spend $75 million to bonuses to employees, full-time, part-time workers in stores and distribution centers will get a
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check for $200 as soon as next month. walmart will encourage but not require customers to wear masks in the stores, they will require workers to wear masks in high risk counties. uber pushing back its return to office date to late october. employees will have to be fully vaccinated when they returned to work. seems that returned to work is being delayed, there are more restrictions coming down the pike. then there's a new study, reveals where we worked from when we worked from home. are people working from their beds? >> 38%, it is comfortable and 19% of folks said they worked from their closets. i find it interesting a lot of people who worked from home, have a proper chair, you have pain associated with it especially in an office job.
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81% of people said it is more physically comfortable to be in the office and we did so many stories, you go on amazon, new office land, computer, rug and 38% of us were in our bedrooms. stuart: you did work from your closet because you have 3 young kids. >> i had to hide, i had to meet my deadline. stuart: this is for you as well. chicago was just added to the cdc mask advisory list. this lollapalooza music festival kicks off, has chicago change the rules? >> they are expected to update their mask guidelines. the cdc is expected to release the data. these are the crowds, hundreds of thousands in chicago for the music festival but 90% of those
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people are vaccinated. had to show proof of vaccination and they did. if you're not vaccinated they say wear a mask. i'm going to side with mayor lori lightfoot here because she had a lot of criticism. officials telling her this is a super spreader event, don't do lollapalooza this way and she's doing it. stuart: it will be difficult to impose new masking rules on the concert contract hundreds of thousands of people, to impose those new rules midway through. >> people are already there. it would be a nightmare if you force new rules when they already partied and already assembled. stuart: a nightmare. >> the damage is done it is going to be damage done. stuart: house speaker pelosi breaking her own mask rule. >> they take off their masks for the photo op but masks are
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required at the capital. stuart: i don't want to be picky. >> you have to take them off the applicable your mask down when you go through security to show your face. stuart: we are being a little picky if we criticize speaker pelosi for taking the mask off during the photograph. we are being a little picky. i'm not going to do that. what a guy. siding with the speaker. there is a first. >> i agree with that. i do. stuart: still to come senator elizabeth warren a critic of crypto currency that she now admits the cryptos could help millions of people, we will explain her position. pearson, giant publishing, they launched a brand-new subscription service, the company says will fundamentally change the way students learn. pearson is on the show next. ♪♪
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♪♪ stuart: that is fox square as we call it right outside of new york city studios, 70 degrees, nice and sunny. we've got another one for
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lauren. you become. new rules for broadway stars and audience members when they get back to work. are they going to be required to get the jab? >> everybody in the theater vaccinated and show proof of it whether or not he is member or performer or just working the theater and if you're sitting in the audience you have to wear a mask. the grand reopening they were hoping for when most open this september but they say this is the direction we are headed in. the following month in october if the situation looks better we will relax the policies as we have to. stuart: even post that is close for 14 months or 16 months. >> if you are performer on stage and your audience is in a mask how do utility like what you do? stuart: you look at a sea of
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faces, no masks so you could tell what they are feeling, you knew when you got them and when you lost them. with a mask on, not the same, not the same. the education company is pearson making a big announcement about a new product, let's bring in and the bird, ceo of pearson, this announcement is a new subscription service. tell me what it is, what it is for and what i get. >> thanks for inviting me to the show this morning. pearson plus is the application we are launching today for the us college student market. it is of subscription service that provides us college students access to the entire
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pearson library at 1500 titles, a 2-tier subscription pricing structure $9.99 or if you want access to the entire library it is $14.99 a month and that is something we focused a lot on, we designed the apps with students in mind, they help us design a lot of the features. as we all know, the pandemic has accelerated a shift to digital both in consumption of entertainment and music, moving into the world of education and with this we really believe students across the united states are going to enjoy the accessibility and affordability of this new product. stuart: i imagine if there were
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some delayed reopenings for colleges or a lot of remote work for students going to college i imagine that would be good news for your business. don't know to cynical about that but that is the case. >> don't know whether it is good news. we've seen an uptick in virtual schooling during the pandemic, enrollment in the united states, 40% during the pandemic, we have been in it for 20 years so the experience you get attending the connection is very different from students and parents experience during the closure of regular schooling. we've seen that interest extend and we've also seen interest in the change of consumer habits
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and student learning habits in college, in the higher education and we believe going forward you will see a blended environment between the physical brick-and-mortar and the opportunity to learn remotely. stuart: i don't want to give you a commercial but it would seem to me, i know you are smiling, and ic 1499 a month for access to 1500 titles. i would think that is a pretty good deal financially. you are nodding vigorously, i think that is true. last word to you. >> it is. we really want, we feel accessibility and affordability, product to benefit society, society benefits, one of the things
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we've seen during the pandemic is the real learning loss in certain parts of the country, we feel by trying to address that and giving students control over how much they pay, and flexibility is important. stuart: you have 20 seconds. can i get the apps? can i pay you $14.99? i'm way past my student days? >> i encourage you to do so. it is available now. go to the apps store google play store and download it and go enjoy. some wonderful wonderful textbooks particularly glenn hubbard's economic textbooks. stuart: i'm a history kind of guy myself. i'm sure you have titles for that. thanks for joining us and congratulations on the apps.
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let's get back to cryptos. i understand ethereum is up. is this a technical thing you can explain? >> a codeing's change which will happen wednesday for ethereum, ether is the currency. whether this change means they will reduce the supply and the price goes up it is similar to bitcoin which always helped the price. that's what we expect next week and we are showing you ethereum. bitcoin is not higher, it is down. stuart: there is a possibility that the supply of ether, the actual crypto currency would be restricted. that is the technological change, that is the upgrade. >> i could tell you exactly the change but i would have to read it and would not understand it. stuart: i knew that was coming. senator elizabeth warren, what is she saying about cryptos?
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charles: she called cryptos shadow we, it's investors a faceless group of super code but calling on treasury secretary yellen to use her power to regulate it because she understands it is being integrated into the financial system so it is here to stand as a result she says it is should by the fed. she could see it being a solution to the 15 million americans who don't have access to banking who use an intermediary to cash their paychecks which is not what crypto investors want but that is what elizabeth warren sees it becoming. she's on the senate banking committee and she wrote to treasury secretary yellen. if we regulate and widely accept crypto currencies the markets don't drastically change. we might see that now. stuart: i have to move on. this is just in. the white house says despite what they said yesterday there
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is no possibility of future lockdowns. this is also breaking, the new york times has postponed its plan to return to the office indefinitely. all day long we've been on this subject. the push back, the delay in going back to work and reposition of mandates like masks come it is happening, it is developing. i think it is negative for the stock market and now this. united airlines showing off a new plane in our squash, wisconsin. the largest air show in the country. grady trimble will file a report for us on the new plane. live entertainment coming back to atlantic city. a full lineup for the fall but will the covid surge derail their plans? we will deal with that next. ♪♪
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stuart: it is 11:42 eastern time. you are looking at ocean city, new jersey, they are busy already on that board law, 83 degrees and sunny, very pleasant day. a little ways away in atlantic city, hotel and casino, they lined up a terrific lineup of live entertainment for the fall. melanie johnson is president and chief operating officer and joined me now. you have a great lineup but what happens if you got to wear masks and what happens if you can't have full capacity?
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>> if we can't have full capacity, that is another curveball for the entertainment business. we would have to abide by state regulated guidelines, whatever the governor of new jersey mandates, safety is first and foremost for profitability and if we have to wear masks we will follow those guidelines but we have our fingers crossed and hope everything remains the same and we can continue to provide excellent entertainment for our guests. stuart: i don't want to pour cold water on all the great effort you and people like you have made to bring entertainment back and enjoyment for the people of new jersey but i think you are facing a considerable threat from masking, social distance and maybe a vaccine mandate. not sure you can do anything about this but you've got to be
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worried about it. >> we are concerned and taking every safety protocol we can right now to ensure the safety of our employees and guests. we are so happy we've been afforded the opportunity to have sense and sensibility and normalcy to bring entertainment back and bring our employees back but we are working with scientists, safety specialists and medical professionals so whatever happens, if this turns bad, god for bid, we will be ready. stuart: we think you are all right. thanks for the effort you've made to entertain the people of new jersey. it's a great effort and we hope it works out. thanks for being here. we will follow you soon. the are squash airshow is back, it was canceled last year because of covid. grady trimble is there. what is the highlight of the show? >> highlight is therefore special ops whether it is the
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giannis antetokounmpo behind me or the c-130 in the distance. my personal highlight, flying with the geico guys who go up in the sky to write messages and it was a pretty thrilling ride in our world war ii era airplane, as we flew four feet from each other at various times in our formation during the flight. jack pelton puts on the show, you are the ceo and this industry obviously has a lot of interest with half 1 million people coming here but the aviation industry from a commercial industry has a pilot shortage so how does the air show help with that? >> it gets young people interested in aviation, and the airline spent a lot of time explaining the career paths they can have to a successful and fruitful career. >> united had a 737 max, you had to get canceled last year like all year shows did, what
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is like to be back? >> so fantastic. it is like a giant family reunion for the aviation industry and we are grateful everybody's here, happy, safe, and all these airplanes are on the ground. >> reporter: more than 10,000 airplanes all across the airport in oshkosh, people camping out all week for this airshow, for this one week each year this is the busiest airport in the world. stuart: camping out for an air show. understandable i guess. thanks very much indeed. earlier this week i asked the question to those of you in california. role tape. no freedom for you while your state is under the thumb of governor gavin newsom. why don't you leave? you sent us a load of emails telling us why you are not leaving or why you are staying. we will share some of them with
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before we get to friday feedback this headline is not good. los angeles schools require students and staff to be tested every week when they return to school. sound like a way of keeping the schools closed with one kid tests positive they are all out. let's bring in lauren and susan for friday feedback i asked everyone in california to sully why they stay in california. first response from tim them or. i'm born and raised in california but stuck here because my wife won't leave her friends and social network. my friends off led to idaho, montana, tennessee and love it there. is that a good enough excuse? your wife won't leave? >> also the weather. you can't beat the beaches in california and the surfer lifestyle. stuart: youth you can. >> that would be incentive for me. stuart: when you beaches have nothing on florida beaches especially on the gulf coast, case closed.
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and i getting an argument from you? >> i agree with susan. i love beaches and i love to surf and a lot of new yorkers spent lockdown in lockdown california to surf. stuart: why i don't leave california? two words. state pension. however i think about it every day. not much to accept state pensions in california are rich indeed. richard writes this, why are we still in california? have to wait till our house sold in february, bought and close on a home in arizona 30 days later, not looking back, best move ever. that is enough from california. let's get your other comments. keith writes please don't apologize for telling the truth, crops are ugly. you where crops, you would agree with me. >> i agree but the ceo said it perfectly.
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they are ugly but cool to a lot of people. i like to go in that category. stuart: no accounting for taste especially among young people. >> the thousand dollar version of crocs if you want to go high end and pay through the nose you can do that as well. stuart: roy jenkins managed to get another email on our air. he said i agree with stuart about ben and jerry's ice cream. they could pay me 5 bucks, add sprinkles and still wouldn't eat it. mister jenkins has the same name as a bridge politician and he is referring to my complaint. i bought one scoop of ice cream in a paper cup with no sprinkle that was 5 bucks. it was not from ben and jerry's. >> the person you by their ice cream from know you are talking about him nonstop? i got to figure out who this is. >> there is better ice cream besides ben and jerry's. who needs politics?
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stuart: well said. >> i like ice cream. stuart: last one from ron. in recent months i've noticed every time you take a vacation day the stock market tanks. if you could give your viewers a heads up before you go on vacation we could sell off before the market tanks and let us know when you're coming back so we can buy back into the market. do i become a negative indicator here? >> you are a positive indicator because if you give us a heads up before you leave maybe we can make some money when you are back. stuart: what do you think? >> it is all about the color of your tie. you are right today, it is read. stuart: it is purple. we are out of time. just like that. we should expand friday feedback and make it half an hour. that would be fun. time for friday's trivia question is what was the first sport played on the moon. everybody would know this, everybody knows it. the answer when we come back.
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stuart: if you didn't know the answer to this question, well -- [laughter] we just asked what was the first sport played on the moon? the answer golf, of course. february the 6th, 1971, astronaut alan shepherd, he swung and missed the ball. that was his first attempt on his second swing connected and sent the ball flying for miles and miles and miles.
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as he put it at the time, why? because there's not that much gravity on the moon. nothing to keep you anchored, the ball anchored down. it went forever. you did not know that? >> i'm terrible at go. maybe i should play golf on the moon. stuart: no, just remember your history. i don't know whether you were alive -- >> i was not alive. [laughter] stuart: that's a good excuse. guess who is in for neil cavuto, put him on, edward lawrence. whoa. get on with it. edward: that's called a mulligan. doesn't count the first one, hitting to to the moon. thank you, stu, i appreciate it. welcome to "coast to coast," everyone, i'm edward lawrence. strap on, this is going to be a wild ride with a swam-packed show as stocks look to close the month in the green. is some of the major stories we are watching, the cdc has a new warning about the delta area i can't, and some fear this could lead to -- variant, andom

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