maria: have a great day. dagan mcdowell and steve ford, thanks for being with us. "varney and company" begins right now. stuart: good morning. across the board vaccine mandates are in trouble. two senate democrats voted to kill the president's mandate on private companies. it is not dead yet but it is on life support. the democratic governor of michigan rejects that mandate. gretchen witmer knows her state cannot afford to lose vital workers and across the land

courts have blocked mandates and school districts are questioning why young schoolchildren should spend the day in a mask. this is a big deal for keeping workers on the job. how about this for getting workers back to the office? and democrat ron cities, 12 cities report record homicide rates, some may find this disturbing. a firefight on a public street in the bronx, new york. no wonder some companies are delaying a return to the office was the win streak for stocks may be coming to a end, the dow this morning after a small gain yesterday, the dow down 100 points, down 14 on the s&p, down 61 on the nasdaq. to the 10 year treasury yield it is back just below the one.5% level, 148 for the moment and bitcoin is back below the 50,$000 level, 49-numfour is the quote. the fox tree burned on wednesday morning. the alleged the arsonist has

been freed despite a long list of charges the judge released him under the city's no bail rule. he is back out there. here is the uplifting news. the tree is being rebuilt as we speak. there will be a lighting ceremony at 5:00 pm this afternoon and fox is donating 100,$000 to police and firefighters, the christmas tree is back. thursday december 9th, 2021, "varney and company" is about to begin. ♪♪ unstoppable today ♪♪ "the dave ramsey show" can you see them, our guys rebuilding the christmas tree outside new york city. good morning to you. >> it will be up and ready in a few hours.

during the five there will be a tree relating, lawrence jones and abby warner sick who live the original tree lighting will be joined by other fox favorites right there on fox square, cardinal dolan and members of the nypd will be on fox square. fox is giving 100,$000 to answer the call the charity provides financial assistance to families of the fallen. neil: p the news on the alleged arsonist, he is free. lauren: he has 7 charges but they are all considered misdemeanors under new york city's lenient laws, he can do this again. stuart: that blaze is what he's alleged to have started. lauren: fortunately nobody was hurt. a lot of damage. stuart: i want to bring in rachel campos duffy, part of the christmas tree lighting tonight. it will be quite an occasion. it is wonderful to see the

recovery so quickly in such a spectacular fashion. i just love this. >> they love christmas, they are not going to let this guy or mayor deblasio stop us from celebrating. they are doubling down on christmas, putting up the tree right away wasting no time and on top of that thanking our firefighters and those who have fallen in their families with 100,$000, makes me proud to be part of this company. stuart: in 12 major cities homicide of reached an all-time high, it seems democrat ron cities are out of control. who do you blame for this? >> look at mayor deblasio. he is certainly to blame. these are policies he wents in the city. make no mistake, that guy is out free. imagine if mayor deblasio had been in charge of the city

during 9/11. you never know what is going to happen and leadership matters and this is troubling. many of these records that are being broken they are breaking their own records. they broke the record last year in 5 or 6 of the 12 cities you are talking about they are breaking them again. abc news reported on this crime wave and here is what they said is the reason. law enforcement, early-retirement, good cops who feel demoralized, the pandemic and decline in arrests and the next statement was there is no clear answer as to why. yes there is. it is you just said it, decline in arrests and people responsible for this are bad mayors like mayor deblasio and others across democrat cities but also a direct responsible to eric holder and george soros who are putting, funding da

races across big into medium sized cities across the country, installing das or light on crime, believe in the philosophy of letting people out, not arresting them, no cash bail and destroying the cities and it is hurting the poor and the vulnerable. stuart: absolutely correct. >> there is blood on their hands, of george soros and eric holder and everybody else who supports these policies. stuart: we will think positively has see you tonight at 5:00. good to see you. see you again soon. look at futures markets. we have a downside move down 120, down 60 for the nasdaq, jason katz with us this morning. a lot of viewers are thinking i've got 3 options for my money. cash, bonds, stocks. what about you? what do you think our viewers should do? >> pick your poison.

it is a negative rate of return, that makes little sense and bonds are no different, your meeting with the chin in leaving long-term bonds with the fed about to step on the gas as far as tapering is concerned. if you buy equities you have to accept greater volatility but at least you stand a chance to make money. it's not a question of stocks but what kind of stocks, there one of the few if only ways to in the long run protect against inflation. the letter of the three is the choice i would go with for the long run. stuart: if you look at the state of the market, a contest between the virus, omicron, and the fed, what is the major factor on the market at the moment? >> you and i, the monday after the thanksgiving selloff discussed this and both mutually agreed that at some

point omicron would come and go. so now everything has pivoted back to the fed as it should and frankly the fed has hung onto this transitory language too long, the employment numbers are not good enough to declare victory but not bad enough to back off as far as tapering is concerned. the q from the market entirely driven in the year ahead by the yield curve, by interest rates. that is what i keep my eye on. stuart: do you think the fed will end this taper and we will have a rising rates fairly soon and will we have a crunch when rates rise? >> i think the fed will move at a glacial pace which could come back to bite them but they need to finish the taper first before they address interest rates but if the economy grows

above trend next year which is our best case and we get 10% earnings growth i think the market can withstand a rising interest rate environment. we won't have the heady gains we have enjoyed but 5100 s&p by year end with a lot of bumps in the road between now and then is the path we are heading down. stuart: i hear you, thanks for taking us through this on this program. appreciate it and you will be back, see you soon. let's talk inflation. it is on everybody's mind, president biden says it is confirmed, build back better, massive social spending will not add to the inflation rate. what is the source for that? >> the wall street journal. here's the president last night. >> president biden: the wall street journal conference my plans do not add to inflationary pressures, not liberal think tanks, wall street. >> it is a made-up claim. the editorial board of the journal ran this, this is the most dishonest spending bill in

american history, the real biden bill the cost is $4.6 trillion and they are not the only ones. many groups estimate if the program in build back better are made permanent the price tag swells to near $5 trillion in every case. >> we are where the market opens, red ink on the left-hand side. she is back. hillary clinton gets choked up reading from her would be 2016 victory speech. >> as hard as it might be to imagine your daughter will grow up and become the president of the united states. stuart: we have more clips and reaction from brian kilmeade later on the show. president biden speaks with ukraine's president, russian forces mass and ukraine's border. what about the stern warning

for vladimir putin? ted cruz on that next. ♪♪

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stuart: president biden spoke at the summit and democracy, 100 government leaders are attending. the president is already getting heat for who was and who was not invited. >> interesting to listen how the president tries to convince these developing countries to our i with the united states and the democratic as opposed to ally with china and russia and be autocratic and that is to talk about his social

spending plan. stuart: >> >> president biden: i hope to sign into law a bill we call the build back better plan which will be an extra ordinary investment in our people and our workers and give american families a little more breathing room to deal with their problems and opportunities. >> the president talking about a social spending plan in the us as the world deals with the threat of china attacking taiwan, russian dating ukraine, iran developing a nuclear weapon and a global pandemic. build back better is what officials meant when they talk about fixing the global economy today. >> for democracy we are excited to be convening 100 government and more members of civil society and the private sector to focus on what the president called the challenge of our time, and democratic recession, for their people.

>> there are questions on human rights, this is the latest effort by this president to try to convince the world they should follow him and not a rising china or russia. stuart: silly build back better the democratic tool. president biden is going to hold a call with ukraine's president. senator ted cruz is with us. in your opinion how does president biden look on the world stage? >> incredibly dangerous, he looks terrible, he looks week and that weakness is dangerous. these past year we've seen disaster after disaster, as bad as the economic policy has been in their domestic policy, nothing has been a greater disaster than their foreign policy.

several months ago americans and people across the world were horrified as they watch the disaster of afghanistan, the catastrophe of biden surrendering to the taliban, abandoning americans behind enemy lines and fleeing in disgrace, that decision has consequences that are going to last years into the future, every enemy of america, there were took a major demand in the oval office and determined president biden is too week to deter them and what we are seeing is the bad guys are getting worse, we are seeing russia, china, iran, north korea, as they take 100,000 russian troops are massed on the border of ukraine, they don't believe president biden will do anything.

the russian invasion was expected in january or february, president biden surrendered to vladimir putin and gave him the nordstream pipeline which enables russia to bypass ukraine, delivering natural gas to europe which is why putin feels he can invade ukraine. i don't know what he will say other than sorry for selling you down the river. stuart: biden's vaccine mandate rejected in the senate. was are the chances this thing gets killed for good? >> it needs to be killed for good. the vaccine mandate is illegal, unconstitutional and grotesque abuse of power and i think biden knows that and white house lawyers told biden this is illegal, this will get struck down in the courts and cynically they made the decision to ram it through anyway assuming litigation will take months or years and in the

meantime a lot of people will obey. it is an important vote, rescinding biden's vaccine mandate for private employers. it passed with a bipartisan majority. every republican in two democrats joined us and this is one of the few cracks in the blue wall, joe manchin and john tester vote with us. it will go to the house, the pressure will be on nancy pelosi, doesn't want to vote on this. she will fight to say we are not voting on this and the republicans are going to press the vote and the question is is there going to be even a handful of democrats in the house that have the courage to stand up to nancy pelosi. i don't know the answer to that was nancy will try to kill it but if they vote on it and you see a handful of democrats with a little bit of courage it will pass and they will go to president biden and see if he vetoes it was given how extreme he is he will probably veto it but this is a bipartisan

repudiation of the illegal and abusive vaccine mandates. stuart: that means the politics of the enforced vaccination mandate is shifting here. a couple months ago large numbers of people said the vaccination mandate you got it but that is no longer the case. >> i think that is right. when we vote on issues related to vaccine mandates the blue wall has held steady, and as i can't -- i stopped by soldiers and sailors, airline pilots, flight attendants, firefighters, doctors and people who are frightened about being fired from their job because of this illegal vaccine mandates. i've been vaccinated. i encourage people to get vaccinated but i believe in individual choice.

you can make the decision, million feel the same way. it is wrong the president biden presumes to tell you the healthcare decisions you make for your health. stuart: this is the united states of america, not austria. always a pleasure. michigan's governor widmer spoke against vaccine mandates, she is a democrat. neil: like lockdowns and met with business leaders. she shared their worries. we are an employee too. if the mandate happens, we will state employees, that is why have not proposed a mandate at the state level, some states have, we have not. we will see what happens in court but we have a lot of the same concerns. it is going to be a problem for all of us. stuart: they cannot afford to

lose final workers but if they impose the mandate they will lose as workers. >> senator inhuff of oklahoma said 32% of the state labor force is at risk of losing a job this mandate goes into effect. 32% to put that in effect. the testing option the cost to businesses to comply with that and pay for it is $350 million. stuart: the cost of the testing program. check the futures again, 7 minutes to go before we open up and we are in the red across the board but it is not a huge decline. "the opening bell" coming at you next. . ♪♪

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stuart: the market opens, the dow is down 150, nasdaq down, who rules or what rules the market. it is it the virus?

>> >> a lot of it is still out there and anytime there's a selloff in the market there's a liquidity to allow dip buyers, that is what we are seeing. it may not be as bad as the delta, but we will have to deal with it. stuart: it has been there for a long time. when does it dry up? >> we are talking a couple trillion dollars of demand deposits all-time record high, the years worth of gdp. before it all dries up, it has

been very clear that they are hawkish and at the meeting next week. it will be $30 billion a month and raise interest rates early next year but up to 75 basis points is that not terrible? stuart: it is december 9th, two weeks to christmas, are we in for a santa claus rally? >> i am a believer. i had a few doubts for a few days but i am a believer, to fill up the gift bag, on track. stuart: i have been skeptical, anxious for the entire year and wrong all the time. i didn't buy the dips.

i've not sold anything, let's see about the new year. see you later. we will open the market, the backdrop is we have a decline, 40,000 jobless claims to the lowest level in 50 years, that was an important number. 9:30 eastern time, down 115 on the left-hand side of the screen the vast majority, one winner and that is cisco, the only winner on the big board. before today's ocean, the dow down one third of one% as we speak and the nasdaq composite, one third of one%.

i suspect big tech also a mixed picture. microsoft is up look at apple, apple is at $175 a share, if it reaches 182-86, $3 trillion, the first to hit a $3 trillion valuation. with the apple car project. >> high-level employees keep leaving, mostly to go to aviation startups like archers, is 7 years old. they are trying to get fully autonomous, no pedal on the market in 24 years. this is why they anticipate apple is late but better when they do things for $3 trillion when you look at valuation. when employees keep leaving,

how close are they to flying taxis, is apple going to be late in 2025 to the games? stuart: it doesn't appear to have worried investors because despite the news of executives leaving apple is at 176 up half of one% as we speak was hard to roll over apple. stuart: it truly is. 135 is the new all-time high and look at that. are h known as restoration hardware up 9%. that thing has been on a tear. are they hit by supplys? >> fourth-quarter guidance because of the core issues and the shipping delays, postponed the opening of one of the new galleries. have you been to the ones in new york? there's one in san francisco, they pushed it to spring of 2022, but housing demand is

strong fixing up your home is popular. they have a great brand and expect revenue growth of 32% to 33% for the year, the third increase this year. stuart: that is a big jump. if they hit the target that's a big jump. justifies the stock price going up 9%. neil: when things are normalized they can triple their revenue. stuart: i hear that. remember game stop? that was the original meme stock, went to the moon. it is not going to the moon right now. neil: a request for documents linked to an august probe and trading activity linked to game stop. the s&p in october said game stop shares jumped because investors like the stock. there is positive sentiment not because of fort selling but they are requesting documentation and that is over with. the loss was 3 times worse than

expected. stuart: how to come a stock like that was $172 a share. how does it get to that level? >> they are fuzzy and grow revenue 30%, they have partnerships with companies like samsung and buzzy on social media. stuart: you have to explain about rent the runway which debuted the other day, it is down another 12%. what is the problem? neil: they sell below pre-pandemic levels. they are not hitting those 2019 levels and their guidance for this holiday quarter suggests it is going to take a wild to get back to those numbers. they ipo in october, higher cost because of it. wire loss. stuart: is that the company where they send a lot of stuff, you choose and send back most of it? stuart: popular for women who are going to work because you can refresh your closets frequently a lot of on-air people use it, they do that,

great for weddings, send it back. stuart: what is the cost? lauren: it is over 100 a month. stuart: if all these people are sending stuff back what do they do? some of it is thrown away. >> some of it is purchased. it is a great business model. it really is. they got killed by the pandemic and are trying to get back on their feet. stuart: i am told - one third of all clothing bought online is send back and a lot is not sold again and some of it is checked away. >> to rent a runway, if i rent a dress someone else where it but for me is the same size as me. to try on what is happening on other people. neil: is not jumping -- neil: want nothing to do with

the demographic. i could be wrong. neil: men's suits. stuart: producers are getting anxious. cvs, that stock is 35% this year and i think -- neil: and billion dollars, an increase to dividends, when it gets better they lifted for your earnings outlook. they are closing 900 stores, attentive their footprint in the next 3 years because they are transitioning to a healthcare company. i how much looting has to do with that. and i'm not sure they will say it exactly but i will look for what matters. stuart: another pharmacy kind of company that is looting of theft the reduces our outlook because -- lauren: hiring security guards. >> vaccine makers on your screen pfizer made it all the way to $52 a share. what is the story?

lou: fargo initiating coverage with a $60 price target. covid treatments whether the vaccine medical are here to stay but the news out of europe, regulators say it makes sense to give boosters as early as three months after the second jab. let's look at astrazeneca. they got fda approval about antibody treatment, this is for people who don't respond well to vaccines, authorized in this country for preexposure. stuart: are you confused and vaccines and treatment center approval and time frames which i'm confused about it. >> the efficacy, it changes as they go against new variance. it is confusing. stuart: it is down 140 points. >> we have become a healthcare show.

stuart: dow winners, apple a big winner on its way, maybe 2182, 86, at which point it is $3 trillion. s&p winners headed by -- it was that? twitter is up to dollars, 47. they make spam. nasdaq, and and the directory reading stocks, microchip, zoom, etc.. get ready for a new definition of leave vaccinated. what is that? role tape. >> is that a matter of when, not if the definition of leave vaccinated changes? >> my own personal opinion,

what you said is stuart: a new definition of fully vaccinated. what does doctor marty maccarry think of that? promoting his trillion dollar infrastructure bill president biden insists he is not a socialist. role tape. >> i'm a capitalist. you should be able to make $100 million if you can. but pay your fair share. stuart: you never -- they never tell you how much your fair share is. they always avoided. 50%? 60%? 75%? i think they want it all. if you watch this show regularly you see this man on-air who found a company called boxed. date is going public. i usually ask him if he is a billionaire yet. i will ask him again today. we will be back.

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stuart: inflation has arrived, madison allworth in new york city, things flying off the shelves. >> the sales are up. they are doing 3 times the sales from 2019. people cannot get enough. inflation playing a factor, the goods after the pandemic, they see so much here. running the store since 2000 and what changed about consumer behavior, why are sales so up? >> people are conscious of

recycling and reusing and saving the environment. if it has been used they are not just buying you all the time and not consuming so much. the young people today really want to reuse and people feel like this is a great cause and want to support the cause so they donate here and when they discover us they come here, before they go by it. >> a lot of thrift stores, the net proceeds go to heart of gold which is an organization, so inflation hitting americans. when you come here you get all the things you need and you make an impact as well. thank you so much and i know you have been talking about pre-loved clothing. my whole outfit is from the 50

haag. people are coming to stores like this, getting items they need right away usually a good price. stuart: looks good to me and i'm sure the price was right. well done, madison. we will send you out there more often. madison allworth. the online bulk cruiser boxed is going public through a deal on the stock exchange today. i want to bring in a frequent guest on this program, we go back to when he started the company in a garage many years ago. my first question is why did you go the back route? >> one is the quantum of capital, $200 million today. on top of that being able to project to the world what we will do with our software business, the two primary reasons we went but i want to thank you for having me on almost a decade, you help make

our dream and my dream come to life. thank you for that. stuart: i take it you are profitable big time? >> not yet but we make a good amount of money for me to order even though we ship toilet paper and paper towels and heavy things in bulk but every year we've been in business that has gone up and we expect that to continue. stuart: you've got $200 million worth of capital. what do you use the money for? >> a lot of things. getting ready for when the world goes back to work, 25% of our business as the world goes back we want to be ready to welcome them with pantry snacks and everything else they will need when they go back and we have this software business we just signed a partnership with google on and so being able to build out the engineering team to sell the technology that underpins our entire business is going to be exciting stuff. stuart: may i ask you what kind of peace you've got of the boxed action? >> reporter: even more as we begin to build up but nothing

was sold today. i don't sell a single share going into the transaction. i'm in this business for eight years. i'm not selling a single share. for as we are long-term and looking forward to the future. stuart: are you close to being a billionaire? >> not yet but hopefully one day but i feel like a billionaire because seeing all the hard work from everyone, being on the floor with you be from the first interview, so now, you can't make this story up and you were a big part of it. stuart: you have done so well and i offer my best wishes from all our viewers and staff. best wishes, obviously you are doing very well. see you again soon. despite a record, 521 homicides this year in philadelphia.

the city's district attorney says there is no crime crisis. >> we don't have a crisis of lawlessness. we don't have a crisis of crime. we don't have a crisis of violence. stuart: i'm not going to comment on that but we will take you to philly for a live report shortly. big question, why are we still waiting for conclusive answers about omicron? doctor marty macarry is with us. ♪♪ acks. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better.

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>> is that a matter of when, not if the definition of fully vaccinated changes. >> what you said is correct. it will be a matter of when, not if. stuart: the doctor is with us. it is not a matter of when but not if we change the definition of fully vaccinated. will that include a booster shot. is that what we are looking at?

>> afraid so. the political momentum out faced the supporting data. the w h o is not on board with boosters with distribution but we are undermining the message that if you are fully vaccinated with the current definition your level of protection is outstanding against severe illness, not a 1-size-fits-all thing. if you've got the j and j vaccines that should have been the regimen and if you had the infection in the past you don't need the booster. there is no supporting science. stuart: i read your op-ed, the national institutes of health and cdc fail us on omicron as they have throughout the pandemic. how could they fail us? >> from the beginning, we did not have any scientific research going on in the united states. we didn't have a real-time

dashboard showing us cases worldwide where even to this day, showing us the level of severity, and which vaccine, this is important data we need in real time, the vaccine antibodies, it is detergent to big pharma but if you look at the response, going on the airways and radio telling them the american people you've got this. stuart: bottom line is we are so confused which vaccine to use, the efficacy of each vaccine, do we need a boost, don't we need a boost, what is the definition, treatments, so confusing. we need somebody who will synthesize and make a statement of what we are doing. i don't see it.

>> a couple glaring omissions. there is no data to support boosters in younger people. that is why experts voted down boosters for everybody. they don't talk about therapeutics, and the new antivirals, they are coming online soon, monoclonal antibodies work against the omicron variant, we need to acknowledge natural immunities. >> always appreciate it. brian kilmeade, p texas, nigel farage, the 10:00 hour of "varney and company" is next. ♪♪

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♪. stuart: good morning, everyone. it is 10:00 eastern. i want you to take a look at fox square right outside of our studios here in fork city. our all-american christmas tree is being rebuilt as we speak. there will be a tree relighting ceremony 5:00 p.m. today and fox is donating $100,000 to police and firefighters. as you can see it is being rebuilt right there. the christmas tree is back. all right. we'll have more on that a little

later, i promise you that. straight to the money, please. i'm seeing a lot of red evening right there. we're down 100 for the dow. 70 for the nasdaq. had a good run recently. most of them are down today. meta platform, twitter on the upside, microsoft on the down side. treasury yield still below 1.50, 1.48 to be precise and bitcoin still below 50,000 bucks. the quote is 48,600 as we speak. thursday morning, 10 eastern, you know what that means. mortgage rates. what do you have, lauren? lauren: 3.1% down. i was surprised by commentary by freddie mac chief economist. the rate will be affected by omicron. i don't think people care about omicron but the supply chain might. some sourcing of materials for homes affected by factory

shutdowns -- stuart: i thought it had more to do with the 10-year treasury which is built into the mortgage rate but apparently not according to freddie. thank you, lauren, he have much indeed. now this. the issue of public disorder just won't go away. i'm about to show you video that some may find disturbing. in the bronx, new york, last night, a gunman, one of them firing from the sunroof at at that time attacked a driver and passenger in another car. this was firefight in another street. the driver was shot in the head and killed. that is particularly dramatic example of public disorder. we've been show youing similar incidents every day for weeks. 12 major cities report record murder rates this year. philadelphia has more homicides than new york or los angeles even though it only has 1 1/2 million residents. across the country there has been a 45% jump in number of police officers retiring.

what is going on? the far left actually blames the police. the white house incredibly blames covid. look, this won't fly. it is the no bail and defund the police policies that have brought mayhem to our cities. those policies were pushed by democrats. now i will turn to the burning of the fox christmas tree. the alleged arsonist has been released. he is free. despite a list of charges, the judge decided he could not be held. that is the no bail policy at work. but here is the uplifting news. that tree will be rebuilt by this afternoon. there will be a tree relighting celebration at 5:00 p.m. fox will donate $100,000 to firefighters and police, in the face of public disorder, that is a win. second hour of "varney" just getting started. ♪.

stuart: president biden touted his new infrastructure in kansas city, claiming it will lower inflation and won't cost taxpayers a penny. roll tape. >> everybody talks about the price tag for this legislation. a trillion $750 billion. it will not cost the tax pay arrest penny. stuart: won't cost the taxpayers a penny. jason chaffetz on your screens with us this morning. you were in congress. you know how these things work. it won't cost a penny with a massive 4 trillion-dollar bill going through congress. what do you say? >> its absolute absurdity why they continue on with this line. congressional budget office was set up to look at this through a 10-year window. what the president continues to say is not true. we're spending more than $1.5 billion a day in interest on our national debt with rates near zero. so don't tell me that anything in the federal government is

paid for at this point. and to suggest they can just go out and tax the rich, that that is just going to cover it all, mr. president, that doesn't even come close. there is nobody that believes that. it is absolutely a facade and it is disingenuous to continue to say it. stuart: i see some democrats beginning to wonder about inflation as a result of build back better. senator manchin for one is cautious about inflation. what about other senate democrats? is there more support for reining in this spending? >> yeah i think there are some other senators on the democratic side of the aisle that don't want the spotlight that manchin and sinema take but i think they feel very much the same way. if they want to get reelected to the united states senate they better pay attention to this because inflation, no matter how this spin is on the national news people know it is real. they feel it on the fuel. they feel it in their pocketbooks. they feel it when they go to

whatever store they might be going to and remember, stuart, more than 25% of our gross domestic product now is spent by the federal government. it is an absurd amount of money. joe biden and democrats want that number to be higher. that is not sustainable. we should be close down to 19 or 20%. should say one out of every four dollars should be spent by the federal government and that won't be inflationary is ridiculous. stuart: let's look towards 2024 for a second. we have this poll, only 22% support president biden for re-election. 22%. kamala harris is at 12% support. looks like voters are running away from the president and vice president when it comes to 2024 but i don't know who they will put in his place. >> no. you only get numbers as low as the president or vice president when you have the middle, the centrists, people who are not, do not have a political party

affiliation, when they are moving away. it is those independents that the democrats have got to be absolutely scared about. they're not even capturing all the democrats but they're losing all of the independents and certainly not getting a single republican. not like ronald reagan, who went in after four years was able to get even more democrats to come his way. it is not like that at all. it is the exact opposite of ronald reagan. stuart: i'm sure you saw this but hillary clinton went on camera and read what would have been her victory speech had she won in 2016 a lot of people think maybe she will make a run in 2024. what say you? >> if you were a republican party person, you please, hillary clinton, please do this again. she is absolutely delusional, even still have your victory speech available and then read it more than four years after you lost, that is somebody who has got to go see a

psychologist. i just don't think that is healthy. stuart: we hear you, jason chaffetz, quite a performance this morning from you. that is pretty good. thanks very much, jason, see you soon. >> thank you. stuart: back to the markets please, we're on the downside across the board. down 87 for the dow, down 67 for the nasdaq and down 13 for the s&p. mark alon with us this morning. i keep saying there is a crunch coming. the fed will raise rates and that will hurt the markets, what say you? >> i think they want to raise rates and it would make sense to raise rates especially given the inflation fears and numbers we're seeing but reality is, once this tightening continues, that will take money out of circulation. that is going to be a slight pullback. we're in a global economy where there is negative rates in europe. there is slow growth in europe. there is aging populations in europe and japan. we're in a global economy. as soon as the fed takes its

foot off the pedal, these other forces are going to take effect and it could lead to a measured pace of growth. the fed may pause. i don't think rate hikes are going to be that rapid and that severe in 2022. stuart: okay. that means we've got some way to still keep running on the bull market. is that what you're saying? >> well, you're right in that liquidity and modest fed policy is positive for stocks. and i think that's why we're going to see some optimism with investing. low single-digit returns for stocks are not something to be ashamed of. something we haven't seen in three years and maybe a measured fed and a market driven more by earnings and fundamentals in a slow growth world is something we can live with. stuart: that would be a very modest upside move for stocks. pretty much unbroken, no major correction no, big crash, no selloff, just a modest up side move for the rest of the year. that is a very rosy forecast.

>> well the unknown is really the threat to that scenario of course, but keep this in mind, since world war ii we only had two cycles where we had four years in a row of double-digit gains. one was march of 2000 which led the to lost decade of the 2000s, something investors to be aware of but something immediately after world war ii which is followed by growth. you don't want to hang your hat on any one data point, i'm simply saying four years of double digits gains is rare and investors need to have expectations. stuart: mr. avallone thank you for being here. lauren with winners, including novavax. lauren: eu drug decision on the novavax vaccine this year. this is a big deal because this vaccine employs traditional technology for vaccine hesitant.

mrna vaccine scares some people. this is more traditional and people would say, i will take novavax. stuart: what does mp materials do? lauren: look at this gain. they do batteries, earth materials, alloy. they have a deal with general motors to supply them with u.s. sourced rare earths like magnets. they can power half a million motors for gm. stuart: u.s. sourced. that is the key. lauren: that is the key. stuart: we got them here. hormel foods i was correct before they make spam. i was correct. lauren: spam, applegate. record quarterly sales, saying the food service industry has recovered. refrigerated food service sales which is not spam, up 40%. i never had spam, never will. stuart: i was born and raised on it. america shipped spam to england right after world war ii because we were starving and i ate spam for years and years and years. lauren: can't do it. i'm not a food snob. i just can't do spam. stuart: yes you are.

lauren: not really. stuart: lauren, amazon, put them on the screen. what is this? they're being fined? lauren: more than a billion dollars in italy for market abuse. the charges they used their dominant position to keep sales on their own services. amazon says they will appeal, they say look more than half of sales in italy come from small and medium-sized businesses. they can use whatever channel they want to sell their products. they don't have to use ours. they choose to. they were fined same amount $1.2 billion by french regulators. stuart: the europeans just want our money and our technology. simply as that. lauren: the stock is down 21 bucks. stuart: only. that is nearly 2/3 of 1%. next case, lauren, president biden warns putin there will be a strong response if russia invades ukraine. pete hegseth will deal with that next hour. organized crime is causing retailers a lot of money.

experts say they know the brazen looters know they can easily get off the hook because of the laws in democrat run cities. we have another report. 12 major cities are seeing a record number of homicides. police in portland are telling residents their 911 response times may be delayed because of staffing shortages. jason rantz takes that on. note ♪

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doing about this as we get close to christmas? reporter: stuart, they're doing everything from limiting store hours to hiring armed guards. that will not be a long term owe solution. i'm in walnut creek a wealthy, quaint community. you see the beautiful holiday tree behind me. this is not where you expect this type of crime to happen. one of the largest coordinated attacks occurred here. ransacked may be an understatement. roughly 80 looters made off with $100,000 worth of merchandise in less than a minute. you've seen countless videos like this because these robberies are happening all across the country. crime is surging in major cities and suburbs and small communities. some of the blame in california is directed towards proposition 47. that is a law that lowered shoplifting charges related to a theft $950 or less from felonies to misdemeanors. criminals are emboldened knowing if they are caught nothing will happen to them. chicago's mayor put the blame on retailers because they're not

doing enough. not just big companies are being victimized. entrepreneurs cash in savings to get their american dream. instead they have scared employees and disheartened customers. >> i'm disheartened by the behavior. also quantity of people that descended quickly on the downtown. the surrounding businesses were upset. we're all in shock. i think they're concern, number one would be for their employees, to make sure their employees feel safe. reporter: on a positive note walnut creek is seeing increase in sales over the holiday season and the community mobilized to approve new funding for police resources but businesses there are on edge. i talked to a number of shops that expressed frustration but wanted to remain anonymous for fear of inviting thieves into their store coming on fox business. can you imagine what they must be feeling, stuart. stuart: no, hard to imagine, kelly. really is. thanks for a great report in

walnut, creek, california it is. move on to seattle washington, where seattle's socialist city councilmember is up for recall, right in the middle of a recall election actually. our seattle guy jason rantz is here now. will seattle will get rid of this person who i think is responsible for the ruin of seattle. reporter: she is definitely responsible for the ruin of seattle in large part. probably unfortunately not. night one we got the recall count the recall was up 6%. anyone who lives here and covers elections, they have a tendency her supporters to vote the last moment. citywide progressives, socialists, far to the left, they vote the day of election. they get huge uptick in support at the last minute. yesterday new numbers came in. she is only down a him over 300 votes. there is 1200 or 1300 votes left. she will almost certainly pick up and take this race over.

i hope that doesn't end up happening but history suggests that is what is going to occur. stuart: there is no hope for seattle? i don't mean to be extreme but a socialist, that lady, i'm losing my tongue here. i will move on. jason, let's go to portland. the police there are warning residents if they call 911 the response time will be delayed because of a staff shortage. portland saw a record number about of homicides this year too. what is the response by the authorities in portland? >> well the authorities are being pretty open and honest about this. they're saying we need more bodies. we need more officers. we need to be able to respond to these calls. i mean they lost between 150 and 200 officers from where they need to be to properly staff the city. i would argue that is probably already pretty low to begin with. they have got 855 cops on the force, for the entire city. that is obviously not enough to

protect portland. on monday, for example, there were multiple carjackings across the city and cops shot and killed an armed suspect. at that time because of staffing they had to shift to priority calls only, priority one or two. calling 911 crime in progress serious threat to life they will be able to respond to that, beyond that they were not taking any calls. concurrently the 911 call center staff not being able to keep up with the calls. they also have a staffing issue. in some cases some emergencies take up to five minutes before someone answers the 911 call. you combine the two things together. slow to respond to 911 calls, literally picking up the phone. also to get officers to the site of an emergency, it is a recipe for disaster. i keep using that phrase in the pacific northwest because that's where we're at. stuart: real fast, jason, the people in seattle, the city, and in portland the city, they keep reelecting folks creating this environment. what about the suburbs? what are people in the suburbs

around those two cities actually think? >> well, the folks in the suburbs like to think they can get away from seattle and portland and escape some of the crazy policies but what happens in seattle and portland. this is not las vegas. it has a 10 did not sy to spread. the bad policies spread. when you see a whole bunch of criminal actions in seattle and portland, guess what, criminals outside of the cities they start to feel emboldened and empowered. we're seeing it across washington state and oregon. that is obviously a huge problem. if you thought you would escape some of the madness to protect your family. stuart: good lord. jason rantz, good report, thanks for being here. >> thanks, stuart. stuart: on a similar note here at least 12 big cities in america have broken annual homicide record this is calendar year. there are still three more weeks to go. tell us which cities. lauren: unbelievable. the cities span the nation. we'll pull up a map for you everywhere.

rochester, new york. captain called it a war zone. had record 79 homicides this year. this year is not done. then you have philadelphia leading the nation, 523 homicides. that is more than bigger cities, new york and l.a. did not make the list. indnap police, columbus, louisville, they did. so did tucson and austin. main issue here, there are many, one is arrests, right? if you look prepandemic, the fbi says they made 10 million arrests in 2019. last year the number went down to 7.6 million. you have the attack on the police, defunding them, budget cuts, vaccine mandates. a lot of police saying what is the point. they're going to be back out on the street tomorrow anyway. i'm curious numbers for 2021 when we get them. when you arrest people, not keeping them in jail, you will have arrests and homicide and crime. stuart: i think this is big issue in 2022. lauren: already is. stuart: selling items on popular

sites like ebay and facebook could get harder. retailers say looters are hawking their stolen goods on those platforms. we've got the story for you. our fox all-american christmas tree may have been burned down. you can look at it there. don't worry in a sign of resilience we're rebuilding a new christmas tree at this very moment. lawrence jones will be at the tree-lighting ceremony but he will be here first. ♪. when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds.

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stuart: still some red ink but not that bad. dow down 80. nasdaq down 115. we're looking at movers including boxed. ceo, founder, who has been on this show frequently, he was on the show. boxed went public today, lauren, doing well. lauren: it was halted and resumed trading for volatility several times. it is an e-commerce giant. they sell items in bulk. license software to retailers. went public through a spac on the new york stock exchange. the ceo, a great interview, a long time guest on the program. here he is. >> i feel like a billionaire, just seeing all the hard work from everyone pay off.

being here on the floor with you, from that first interview, you're in a garage, why are you on the show to now, i mean, you just can't make the story up, stu. you were such a big part of that. stuart: he was very generous right there. that is che wong. he started in a garage eight or 10 years ago. as soon as he started he has been on the program ever since. now he has gone public. i think he is being close to being a billionaire. better move on. move to lucent. i think it is way down. lauren: this ev gets 520 miles per charge. they're seeking capital for the first time since their july debut. they're offering 1 and 3/4 of five-year convertible bonds to do so. are there problems? why do they need the money? is what investors are saying. stuart: down to 40 bucks a share. thanks very much, lauren. i love this story. this is a sign of resilience and hope. fox will light a new all-american christmas tree later on today. look who is here, the man

himself, lawrence jones. you led the tree lighting before it was burned down and i think you're going to lead the relighting today. i love this. i love this. >> it will be "the five," me and abby hornacek did it with "fox & friends" alone. not just resilience. i got a lot of push back called it america's tree. we're america's news station. it was a very patriotic tree. people came from all across the country to participate in this tree. we decided that we just, we weren't going to let the bad guys win this time. i know a lot of people say, oh, it is just a tree but it was emblematic what is happening in new york city all across the country, criminals can be on the street, do whatever they want with absolutely no pushback from d.a.s, judges, liberal police chiefs that don't respect the men and women in blue. it was the final straw for a lot

of us. saying enough is enough. we'll put the street back. it will be bigger, better. we won't let the gadd guys win. stuart: that is wonderful thing. tree lighting will be 5:00 this afternoon with "the five" and lot of other folks. good stuff. i want to get you an example how out of control some of these big cities are. san francisco, a woman there was charged 120 times for shoplifting, ailinged shoplifting. she was just arrested again and put in jail. so she shoplifts. comes out. they stop her. she goes right back to shoplifting this is typical of how we're just out of control in democrat run cities. you have done a lot of reporting from philadelphia as i recall. >> been covering it for three years. we saw this was happening when george soros trying to get the d.a.s elected all across the country, st. louis, dallas,

minneapolis, philly, chicago. we're dealing with an epidemic. stuart, you know me to be a libertarian, and a person for criminal justice reform. you know the problem? these people are not reforming their lives. why are they back on the street? until we have criminals have consequences for their actions they won't turn their life around. we're failing the criminals honestly but we're also failing society. these people are a risk to society. you have these judges granting them bail. you have d.a.s bail, no one should behind bars. can you imagine people that are rapists murderers, people pushing elderly people into the tracks in new york city. we're saying those people deserve to be back on the street? what have we become? stuart: i know you're not a new yorker but i would invite -- stuart: you're a texan, i got it. drive down the westside highway. west side of manhattan. there is a billboard, a very large billboard and it says empty the jails. let them all out. >> i live on the west side.

so i have seen that sign. i also see the fires that the criminals set on my way to work all the time. they just set things on fire all the time, with no pushback, absolutely. it is becoming a big issue. again the police, police now have hands off method now because they have been demonized. look, when there is injustice and civil liberties, constitutional rights are being violated i will be the first person there protesting it, to make sure citizens rights are not being violated but that is not what we're seeing right now. we're seeing straight-up anarchy in america where criminals can get away with anything. it is bad for the country. it is bad for our youth. it is bad for average americans. what happened when our christmas tree, that was the breaking point for a lot of people. it is unfortunate that you don't see the crime unless you're watching fox news covered on mainstream media until something, something more popular or a christmas tree is burned down in front of

fox news. stuart: the mayor of new york city held a press conference yesterday and did not mention the burning of the fox christmas tree. >> of course not. stuart: didn't even mention it. nothing there. >> i don't want to make this about religion but i don't think you can. what if another religious symbol was burned? how would be it treated by the mainstream media then. we don't know the guy's motivation. stuart: good question. >> you can't have double standards for hate crimes and when we have religious symbols being targeted. stuart: by the way the alleged arsonist of the christmas tree. >> has a record. stuart: all right out. >> of course he is. that is the way we do business. one of the reasons, this is why i mentioned the hate crime thing, if it was a hate crime under new york law, they would have not granted him bail. stuart: fair point. was it a hate crime? because it is fox. >> i will let you guys chew on that. stuart: i'm watching at 5:00 this afternoon. >> thank you, brother. stuart: got to see it. similar note here, shoplifters are selling stolen goods on

online marketplaces like amazon, etsy, facebook. rich edson is being here done by the platforms to stop this? reporter: they say they are, stuart. so you have these high profiled organized shoplifting events are happening. now a fight between traditional retail businesses and online sellers. the national retail federation says 59% of the businesses they surveyed have spotted their stolen merchandise for sale on e-commerce sites. that is up nine percentage points from 2018. in april the justice department charged a father and daughter from atlanta with selling millions in stolen goods online. congress with a bipartisan bill looking to require sites like ebay, etsy, amazon, verify the identities of many much their online sellers. >> we have never asked any of these platforms, including amazon, to take any kind of responsibility.

now, we think that that will be an incentive to keep all of these fraudsters off. people who are hijacking stores and selling those products online. reporter: retails support the bill. so do many of the major online markets like amazon. what they say they oppose is a patchwork of state-based regulation and laws. several state governments are considering bills on this issue. a coalition that represents the internet association and sites like amazon says, quote, we all agree organized retail crime is a problem but punishing honest, online sellers is not the solution. retail theft needs to be addressed at the brick-and-mortar scene of the crime, not online. that coalition points to an organized retail task force in illinois as their preferred solution. there is amazon ceo jeff bezos. he said in the summer, given the large volume of sellers on his site he sure at least some of

the goods that are sold are stolen. amazon says it hired 10,000 employees and spent hundreds of millions of dollars to help verify its seller's identities. back to you. stuart: rich edson, thank you very much indeed. all right, everyone, there will be more "varney" after this. that is a promise. flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. (vo) singing, or speaking. for reason,ectus containing this information. or fun. daring, or thoughtful.

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stuart: president biden has been promoting his infrastructure bill all across the country. he calls it a job creator. hillary vaughn is with us. hillary, some in his administration i believe are not calling job as priority. reporter: not the number one priority, stuart. the former new orleans mayor, mitch landrieu, nominated and picked by president biden to implement this $1.2 trillion infrastructure package laid out his list of priorities that he understands the president wants to think about an prioritize when gets these shovels in the ground implementing the infrastructure bill across the

country. >> he also said, look, we're going to build a better america and the better part is really important because he said we're not just going to do it like we did. we need to think about climate. secondly equity is critically important. we can't leave anybody behind. blue-collar jobs. he wants labor involved in a big way with workforce training. reporter: while president biden touts that the infrastructure package is going to create hundreds of thousands of jobs, some are warning there isn't anyone around to fill them yet. the ceo of jobs for the future, maria flynn, wrote an op-ed in "barron's," explaining the construction industry, that would be a key industry in charge of infrastructure, still facing a shortage of 430,000 workers. estimates that the industry will need estimated one million workers the next two years. president biden did set aside 100 billion originally to get

workers trained for this. most of that was gutted from the bill he signed into law. so one concern, stuart, is that there so going to be a lot of job openings. there is not enough american workers trained to fill them. which means the jobs have to come from somewhere. they worry those jobs will come from overseas, stuart? stuart: 11 million vacant jobs right now that are unfailed. millions more still to come. hillary, good stuff. thank you very much indeed. we'll see you soon. we've been saying for months that the pandemic will change the way we work. a new survey shows the great resignation may be far from over. what do we have on this lauren. lauren: it is a survey from fidelity. the great resignation is filled by the gen-z, young workers 18 to 24 years old. four in 10 want a new job next year. the question is why. aside from money, they're getting bigger paychecks because of inflation, not being enough talent, culture. they want flexibility. they want less stress. i scratch my head, what message

does that send to employers. if they want flexibility, they want hybrid schedule. does that cause more stress or interaction with other coworkers that would make them happier they have to go back into the office. what do you want? stuart: i see the point, that age, just starting out into the job market you tend to move around frequently. find out what fits, what is right for you, what offers the most opportunity. i'm not surprised by that number at all. lauren: no? i thought is was a little high. that is for all workers. stuart: how about this one, tjx, the parent company of tj maxx and marshall's. this is interesting, they are the first major company to require booster shots for office employees. staff has to get the third jab as soon as they are eligible. that is tjx. nothing to do with the stock. it is down slightly. i will call this positive news, a new report says workers could see a big pay raise next year. we'll tell you why more companies could bump up your

salary. it has been years since hillary clinton lost to donald trump show why is she reading his disguarded victory speech. you got to roll it. >> as hard as might be to imagine, your daughter will grow up to become the president of the united states. stuart: is she running in 2024, a rematch with donald trump? what a show. brian kilmeade will pass judgment after this. ♪. (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary,

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stuart: this is intriguing. jeffries is going back, jeffries is an investment firm, okay, wall street kind of firm, they're going back to remote work. why? lauren: 95% of their staff is fully vaccinated. stuart: exactly. lauren: they are going back because they had 40 cases of covid this month. so to be safe, work at home, they encourage you to do that. if you stay in the office, you must wear a mask and be very careful. and next month, starting january 31st, anyone, visitor or staff member into their offers must have the third

shot. they must be boosted. stuart: do you think that has something to do with liability? because if they bring the workers back into a place, you have already had these cases, somebody else gets it, sue the company. lauren: that and their cfo died from covid. i think it hits close to home. stuart: i take that back. that is serious. lauren: maybe they're trying to get ahead of it too. i don't know how their employees feel. stuart: it is intriguing they're going back to remote work. look who is here now. it is 10:51 after all, the man himself is here, brian kilmeade. brian, you know what is coming at you right now? hillary clinton. she is back. watch this, brian. >> my fellow americans, today you sent a message to the whole world as hard as might be to imagine, your daughter will grow up and become the president of the united states. stuart: she's reading the victory speech that she would have delivered in 2016 had she won.

but, brian, my question is this, do you think she's running in 2024, and if she did run, a rematch with donald trump, who do you think wins? >> i don't think hillary clinton is even liked in the democratic party. i think the clintons are radioactive. if you look at the epstein trial, see how clinton's name is coming up. you realize he is not even popular in his own circles. his own foundation are falling apart. clearly they were contributing not like they respecting hillary and bill, but she was ascending back to power. when barack obama made her secretary of state, looked like she was on the doorstep certainly becoming the nominee and president. they didn't want to run away from the former president because the wife was about to be the next president. now you see she has no real friends. they have abandoned her. she is weeping about a loss in 2016, which is pathetic. look at bob dole, the passing at

age of 98. bob dole lost couple runs for vice president. you know what he did? went on david letterman kidded in self-deprecating way. how he was beaten. john kerry, new he he lost ohio knew he lost the election. jeb burn was governor, make something really up in your head you really won the election. to their credit they got over it. to her of credit she didn't. hubert humphrey lost three times for the election. nixon lost once before. came back and redeemed himself. i wrote about andrew jackson losing to john quincy adams. he showed up at the inaugural and won again. this is pathetic. stuart: to entertain the audience, if it was a rematch hillary versus trump, who wins? >> trump eludes investigation, if nothing else comes up, i think he is running again.

and i think he would, i think that he is in good shape to beat biden and or hillary clinton. if things stay somewhat the same as they are right now, if you see hillary clinton as terrible campaigner. she is very bad one-on-one. what she is a machine politician and a known name. nobody really likes her. they just accept her. she knows where the bodies are buried so to speak. she knows how to do the job but i don't think her decisions would be any good. stuart: before we close it it out i want to ask you a completely different kind of question, you and i talk politics, sometimes sport, what about talking about investment. are you an investor? where do you put your money? do you mind if i ask? >> well i mean i have, i have a financial planner. i take a certain amount of money out. they tell me roughly where we are invested in. ask me what my interests are early. i just monitor it. i have to know what i'm good at, if i was better at it i would be

on your channel. that is why i don't get heavily involved in that. but i would say this, at this point, i'm more passbook savings guy because i don't trust anything anymore the way we're running up debt. stuart: you are not. brian kilmeade does not have his money in a bank passbook savings account. i'm sure if you got a good financial, he is looking off to the side. not sure where this thing is going. you're getting worried. but i am sure a chunk of your money is in stocks. tell me i'm wrong? >> you're not wrong. you're not wong. but i'm not doing it because i am not you. i'm not doing that because i'm not an investor. you have to know what you're good at. not many people say brian my taxes are due, would you help me with them. not many people say how do i add this together? you have to stay in the lane you feel most comfortable. stuart: you got any bitcoin? >> zero. you always told me to stay away from that. stuart: all my fault, i'm sure. >> you're the one who always

says you don't trust it right? stuart: all right, brian. we're all watching relighting the christmas tree this afternoon. that is what we're looking forward to. i know you have a show to do so i will let you go. brian kilmeade. >> go get them. stuart: can't teach you about investing but he will back. coming up still ahead, pete hegseth, nigel farage, "wall street journal" guy dan heninger, and president biden vaccine mandates. my opinion they're collapsing. the political sands are really shifting. the people who live in democrat states are beginning to realize their authoritarian governors have led them down the wrong path. that is my opinion, it is "my take." it is next. ♪. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most.

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>> bad news with mayor deblasio and lightfoot, there is blood on their hands, there's blood on the hands of george soros and eric holder and everyone else who support these policies. >> this past year we've seen disaster and disaster from the biden and ministration, nothing has been a greater disaster than foreign policy, the vaccine mandate is illegal, it is unconstitutional, grotesque abuse of power. >> the q from the market will

be entirely driven in the year ahead by the yield curve, by interest rates. >> provided since the beginning of the pandemic a lot of it is still out there and when you get a selloff in the market there is enough liquidity to allow them to come back in. >> having me on for the garage sale you make a dream and my dream and the american story come to life so thank you very much for that. >> reporter: ♪♪ it feels good today ♪♪ i just got paid and coming into town. stuart: this is thursday and the markets are coming back a little, dow industrials were down 100 and now we are down 25, the nasdaq not exactly falling out of bed but it is down 110 points. big tech not doing well. we have apple, it hit an all-time high at 176 and it is

getting close to the $3 trillion valuation. it is a $3 trillion company. meta-platforms up with the rest of the big tax down, the 10 year treasury yield still well below 150, 147 as we speak. the authoritarians are in retreat. vaccine mandates are collapsing. even among some democrats forcing the jab is evaporating. everybody knows there's a labor shortage and everybody knows it is made worse by draconian vaccination demands. that's why two democrats, they voted against the president's vaccination mandate on private companies. democrat governor of michigan gretchen witmer will not impose mandates because she knows if you force the jab you lose final workers. why relaying off nurses who work to the dangerous neil: the covid, police

officers, firefighters, airline workers. the courts are blocking mandates at every level, school districts are questioning mask mandates, parents of young children are not happy that in some places like new york they are 5-year-olds must get the jab to get into school. the political stands are shifting. for a long time republican states have been open and free and they are doing well. the people who live in democrat states are beginning to realize their authoritarian governments led them down the garden path to forest jabs, forced masking of children or do this or you are out mentality. they can't retreat. he laid down the mandates. on top of the border crime, public disorder and inflation, authoritarian mask mandates, another problem of his own making. third hour of varney starts right now.

then there is this. president biden was russia's putin there will be strong measures if russia was to invade ukraine. pete hegseth is with me now. how does biden look on the world stage? >> reporter: overall very weak and it is a product of having a track record of making poor decisions, the product of priorities he has which is ignoring american leadership and strength in the world, afghanistan and watching how we retreated and a product of overall rhetoric and disposition. he doesn't seem like a strong decisive leader to foreign capital. they see him as a lame-duck not running for a second term and ultimately now is the moment for them to move should they

have a policy in front of them that they nationally believes in their interests. for china that is taiwan. it won't happen until after the other pics but not the move they think and certainly ukraine you've got vladimir putin stating time and again that is part of their territorial area. their previous invasion with crimea seemed fine for them, he doesn't believe president biden will have the backbone to fight back and so we will see what happens but ultimately the right move, president biden made the right move to deny any promise to vladimir putin that he would push back and allow ukraine to join nato. they have that option. >> i editorialized that i think the mandates are collapsing, a political shift, more democrats understand these vaccination mandates are bad for the economy. is there a political shift? >> i think there is. a lot of it is weariness.

people are just looking around saying not this again. as we learned more how the virus is transmitted there is a private benefit from the vaccine if you are vulnerable or want to get less sick when you get covid get the vaccine. if you don't have natural immunity the public benefit is less clear because if you had covid or not you seem able to transmit it or get it so alternately if you want to protect your self take those measures but forcing everyone to do the same you can't see the need for that or the rationality for that. they are slowly waning because they are politically unpopular and most of our politicians are cowards and they will follow that if they see it will hurt their polymers. stuart: this is the united states of america too. you will be at the tree lighting ceremony, the all-american christmas tree this afternoon. the alleged arsonist with a long criminal history lit the

original tree on fire early yesterday morning. he is now out, he is free. let's stretch the positive. you are looking at a live shot, the christmas tree is being rebuilt as we speak and that is a wonderful thing. that was fast. >> it is fast. it is a beautiful tradition, beautiful tree. i'm proud of fox does it. the only option was to say we will rebuild and we will rebuild immediately and we were not allowed to deter us but it does tell a bigger story. i heard the point you made. multiple charges, will be no consequences and we wonder why crime happens over and over again. god bless fox news channel for this tradition, proud to be there when we relate it and great job by the fdny and nypd as well. they are not in charge of whether the guy stays in jail or not. stuart: we came back strong and that is a fine thing indeed. we will be watching at 5:00 for

the free lighting. see you later. back to the markets. we narrow the loss to the dow industrials down 40 points and expand at a loss for the nasdaq. we are down 121. bill baroque with me this morning. who rules the market? what is the most important factor? is at the fed or the virus? >> it is the fed. it has been the fed and it will be the fed. we have inflation tomorrow. that will be crucial and will set the table for the fed next week. we all know it is more hawkish than expected last tuesday and if you are playing close attention in the first hour of "the opening bell" on that tuesday the market reached overnight losses after the moderna ceo spoke about the vaccine. the fed is most important especially for the tech stocks. stuart: did you say we have inflation figures coming out tomorrow? >> yes.

the cpi data tomorrow, 7:30 eastern time. will be crucial to set the table. stuart: what are you forecasting on consumer price inflation rate? it has been 5% or 6% recently. what is your forecast? >> the core number excludes food and energy, picking up month over month by 0.5, it is 4.8% year-over-year. 5 tenths would be an increase but it is on the heels of october's increase of 6 tenths so inflation is there. the to come in hotter than expected? with the virus, it could delay the fed being hawkish. what's important to take away from this is it was hawkish last week, inflation is hot, that is also hawkish, we could see the market digests this hawkishness with volatility but the fed won't be hawkish, they

are coming under the bar that could be bullish for risk assets. stuart: i have it in the back of my mind. watch the inflation number, see you again soon. we've got boeing moving down 2%. street change reminder delays pushing a major international carrier to cut their flights next summer so they are not going to fight is in cities in ireland and reduce the number of flights to china and australia. stuart: boeing -- >> the earliest they can recent delivery of the 787 max, 787 reminder, not the 737 max, that reminder, the big one will be before april. stuart: the first time i can remember a major airline canceling flights down the road because of production problems at boeing.

lauren: i'm trying to think as you say that. stuart: what about has a, it is down 3%. lauren: in many states you can't text and drive but what about playing a videogame when you are in a tesla on autopilot and playing a videogame? searching on the web, you can. and now it's a --nhtsa is looking at what to do about it. that's the point of a self driving vehicle, that you can shop and play video games but with all the issues we are seeing with crashes, sensors and cameras, should your driver be that distracting? stuart: should you be able to play video games when autopilot? should tesla put that capacity into those cars? lauren: what do the regulators do about it? stuart: pellets on, what we

have on that? $42. lauren: a class-action lawsuit that they made false and misleading statements that continue after the pandemic. that enabled the all-time high. it is down 72%, shareholders got burned when in reality there's slowing demand for bikes and treadmills in an increasingly competitive market. stuart: that is really something. 175 and 42. lauren: earlier this year. stuart: this month, month after celebrating freedom day, adding new covid restrictions urging people to work from home. nigel farage, texas go board member accused of thexing parents blaming her job, blaming white supremacists.

we have a story. a record number of homicides, the district attorney suggests no crisis. >> a crisis of lawlessness, we don't have a crisis of crime, crisis of violence. stuart: 521 homicides in philadelphia and those comments are outraging neighbors who call the city a war zone. we will go to philadelphia next.

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stuart: philadelphia have seen a record high 521 homicides so far this year despite the crimes like the district attorney claims there is no crime crisis.

brian yunus is in philadelphia, what are they telling you. >> reporter: good morning. we are north-central philadelphia, a black neighborhood across the street you see teddy bears marking the spot were 27-year-old man was guns down and killed in july just feet away a second memorial for 51-year-old community activist named michael mohammed. he was guns down in broad daylight. i spoke to stanley proper, founder of the black mail community council is an organization trying to lift up his community. in 2018 stanley's son william was killed outside his sister's home. he was 35. he says the level of gun violence and crime is unlike anything he has ever seen and despite what the district attorney says about the city not seeing a crime crisis, he says it very much is. >> my son had five baby use that won't have interaction with the father.

if you say this is not a war zone, if you say this is not a crisis either you are inhumane or your humanity has left you. we need help in the city of philadelphia and it comes from the national guard or any sort of credible government. >> reporter: a record 524 people have been murdered in philadelphia this year, 57% from 2019 and police involved 42% of the murders, more than 2100 people have been wounded from shootings in the city, 47% spike from 2019. more people have been shot in philadelphia than in america's largest cities, los angeles and new york. only philadelphia, second only to chicago. the philadelphia inquirer puts it this way. are more likely to win a coin toss than to be time for murder in the city. we have serious problems, people say it is a crisis. stuart: thank you very much

indeed. the former mayor of philadelphia is heading back against the da's claim that there wasn't a major crime problem. michael not her calls at some of the worst, most ignorant and most insulting comments i've heard spoken by an elected official. i have to wonder what kind of messed up world of white woke krasner, the da is living and to have so little regard for human lives lost. chris rufo joins me. what is behind this major crime spike in philly and elsewhere? is a guns or local policy? >> it is absolutely local policy. we saw this after michael brown's death and the ferguson effect. we are seeing it with the minneapolis effect following the riots from last year and simultaneously increasing violence in the streets while police are pulling back, stopping corrective enforcement and prosecutors in san francisco, prosecutors in

philadelphia, chicago are starting to let people go in and out of jail without consequence. when you add up these factors you get skyrocketing murder rates all over the country and the fact is very simple. the left has been pursuing what they call police and prison abolition for a decade, more than a generation but they are putting their policies into place and they are a total disaster. stuart: in my opinion this is the result of leftist democrat policies. i think that is true of almost every big city with these crime problems. i'm putting in the lap of the democrats was am i going too far? >> you are not. this is part of the far left democratic effort to get woke prosecutors in position in america as major cities. this is a coordinated effort. they believe the last remaining bastian of conservative law and order governments with the

criminal justice system is the final target, they degrade law and order, they went to the police our cities, they want to uncommon allies actual property crimes, even violent crimes. this is what they are going for, what people are getting and it hurts the people in the cities that don't live in gated communities like they need to do. stuart: let me get your opinion on this. is texas school board member resigns claiming she's the victim of white supremacist attacks. norma garcia lopez was the cochair of the racial equity committee, she posted the personal information of parents online who would sue the school district block mask mandate. she says she is a victim in the school controversy race. what do you say? >> she is just a victim of her own anti-scientific policies and what we see is when progressives get caught doing idiotic things they scream white supremacy no matter what the actual reality is.

the fact is simple, parents are getting fed up with public school bureaucrats but shutdown schools, mask their kids and started pumping them full of critical race theory. parents are fighting back and hope we see many more resignations and many more firings in the months to come. stuart: thanks for coming with us, you started this ball rolling and hope you keep it rolling. have a great day. back to the markets, the dow is down 60. we are down 40 on the dow industrials down 115 on the nasdaq. pfizer's vaccine just received fda authorization for its booster shot in people 16 and older. stock is up, $52 per share. when the pandemic started it was 35. with all the vaccine news it only got a 52, always surprised about that and you have lift, ride hailing people, once again

dealing their return to the office again. ashley, are they ever going back? ashley: how about 2023. employees can work for the entirety of 2022. that the reversal from the previous announcement that stated workers will be back at their desks in february. many are changing their return dates in response to the omicron variant but few have gone as far as lift. the company says offices will fully reopen in february is planned for employees who want to come in but returning will be optional for the entire year. the san francisco-based company doesn't plan to go fully remote indefinitely like others including twitter but says employees will be given plenty of flexibility. >> it is much easier to work from home and to go into an office. see you again shortly.

you could be in for a big raise next year, experts, the fastest ways growth since 2008, we will break down the numbers. the president insists he is a capitalist, role tape. >> i'm not a socialist, i'm a capitalist. you should be able to make $100 billion if you can but pay your fair share. stuart: that drives me nuts. dan heninger will respond to that forcibly after this. (vo) what's better than giving a better phone this holiday season? oh! i know, i know. giving a better phone on a better network.

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i was unable to eat. it was very hard. kimberly came to clearchoice with a bunch of missing teeth, struggling with pain, with dental disease. clearchoice dental implants solved her dental issues. [ kimberly ] i feel so much better. i feel energized to go outside and play with my daughter. i can ate anything. like, i don't have to worry. clearchoice changed my life. stuart: will you look at that view they almost built it straight back up again. that is the fox christmas tree right outside our studios in midtown manhattan. 24 hours ago it was a burned-out hulk, an arsonist had set it on fire and we said we will rebuild that thing and

we almost rebuild it completely. there will be a ceremony at 5:00 this afternoon. watch fox news for that. the markets got some reading, nasdaq, we are down 82 points. that loss has been narrowed a little. we have this justin. remember what i was saying at the top of the show about the mandates are collapsing, listen to this. amtrak is warning it could be forced to cuts in service in january because of the covid vaccine requirements. a lot of pressure to remove those requirements. a new report says workers could see a big pay raise in 2022. how much are we talking about? ashley: base pay could increase by 3.9%, that would be the largest when your hike in 13 years going back to 2008. according to conference board latest survey, half of the companies sampled, 46% said they need to offer higher wages

to attract workers given the labor shortage. another 39% of employees cited high inflation is another factor saying this year it is too high to ignore with companies worrying some workers might jump ship if they don't get enough of a pay bump. surveys show people switching jobs are getting higher wage growth than people staying in their same jobs. stuart: some families making $3,000 your living paycheck to paycheck. ashley: to live a comfortably middle-class life in big coastal cities, saving for retirement and owning a home. the financial samurai, 300 grand is what parents need to inform a decent lifestyle in

those expensive cities. that is a far cry from median us income of 67,$521 a year. the biggest intense, the mortgage followed by childcare, the blog notes but 1-time 300,$000 was a lot of money but now means you're going to work a long time and struggle to keep up. stuart: times have changed. president biden claimed he is a capitalist, not a socialist. he said that while touting his infrastructure bill in kansas city. watch this. >> president biden: what is better for american corporations? what is better for the wealthy? for healthier nation, everybody being better educated or having that extra amount of money.

i'm not a socialist, i am a capitalist. you should be of to make 1 million or $100 million if you can but pay your fair share. stuart: help me out please. whenever i hear that pay your fair share stuff it drives me up the wall because they never tell you what they think is a fair share. >> that kept a secret, what the fair share is. what the whispered fair share, i'm not a socialist, i am a capitalist. president biden's approval rating just keeps falling and falling and falling. i think a lot of people get deeply annoyed by that whispered pay your fair share and you wonder why the white house keeps letting him go out and do it. it drives people crazy. the democratic party has always admitted it was the party of

redistribution, redistribute wealth from the wealthiest down to the neediest, but they have always been kind of skated across a very thin line between redistribution and socialism and what the spending levels president biden is looking at and the controls that come with it such as especially the climate related issue which he's doing things like asking the federal reserve to lean on the financial system and banks to meet their climate goals, that comes pretty close to the kind of control socialist countries have always engaged in. when he says he's not a socialist he's looking more like one every day. stuart: bernie is his brother. another thing out of built becker, the president keeps saying he will reduce inflation and it won't cost the taxpayer a dime, nail it for me. >> reporter: why they keep insisting it won't increase

inflation is hard to fathom. this is one of the reasons his approval ratings on the economy are improving and people know if you spend $2 trillion as they did last year on covid stimulus then another trillion for the infrastructure and the current build back better bill which may be 2 trillion, it could before or 5 trillion as some estimate. people know that kind of pouring of cash into the economy is going to raise prices and create upward pressure. it is doing so right now. people are asking for higher wages because of inflation but they won't be able to get those wage increases to keep pace with the inflation so why the white house keeps denying this is happening is completely self-destructive on their part. they are locked in, spending the money and what they're spending goals, new

entitlements, climate regulations are more important than taking a hit from inflation. it could drive democrats out of office in the midterm elections next year and the question is are progressives in that administration willing to bear the price to that. stuart: progressives could keep their seats, moderates lose. thanks a lot, see you again soon. former football star, revealing secret to success, not something you would expect from a pro athlete. look at this. a g.i. joe action figure sold 38,$000, not the only vintage toy that is racking up big money. we have a list of them and we will show them after this. ♪♪ ♪♪

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♪♪ stuart: what on earth is that? candycane lane? i'm not familiar with that song. you are looking at eugene, oregon, 37 degrees. southwest airlines will introduce a new fair category next year. not many details on this but one executive says it will be a new price category above the airline's lowest price and offering enhanced attributes customers can pay more for. stocks down 3%. apple partnering with hyatt to roll out hotel keys via apple wallet. it will allow people staying at hotel to unlock their rooms

with a swipe of your phone. can't wait for that amenity. now this. if you've got some toys in your basement from the 70s, 80s and even 90s you could be into some money. mark montero is with lcd auctions and joins us was i want to start with something we should our viewers moment ago. the g.i. joe figure. put it on screen. is that were 38,$000? >> it is worth more. it was purchased from us for 38,$000. it was then put online on an apps called rally, broke it down to share $9 each, the shares sold out within hours. stuart: that is fascinating. i take it these vintage toys as i'm going to call them have to be in mint condition, in the box, unused, excellent condition. >> correct. the key has to be they are brand-new in the box in good condition. also they need to be

professionally graded to ensure authenticity. stuart: i will roll through the stuff to show us, how about the 1987 vinyl tape job the --jawa action figure from star wars. >> 25,$000, afa grades the action figures on a scale of hundred, 80 is a very solid piece. this one has a vinyl cape which the very first originals were released with the vinyl cape and have become very collectible. this one has every star wars collector excited. anyone this is a collectibles boom and a half. the 1982 castle grace goal from he-man and the masters of the universe. how much? >> over 22,$000 record price. this was the first release of

castle grayskull. everybody from my generation, the early millennials, we all remember this one. it is factory sealed, graded afa 80 and got 22,$000. stuart: i've got to get to this. this is a 1983 jaws vhs tape. how much? >> over 10,$000 for this, vhs has become a brand-new collecting space. we sold 15 factory sealed vhs tapes on average, they got $3,900 each. stuart: i've got to get to this. the 1984 optimist prime from transformers. how much? >> this one went for 16,$000. the key character in the

transformers line, the previous high sale was around 10,$000 so to get 16.5, very exciting. stuart: last one, i've got to get this in. the 1986 return of the jedi vhs tape, still in the box, how much? >> this went for 14,500. very exciting. keep in mind these are retail tapes, vhs tapes we all had and all watched. the difference is there factory sealed. a lot of people can have them in storage in their basement. we find a lot of these attic finds. stuart: i am guaranteeing there's a bunch of people in our audience rummaging through their old tapes right now and old toys to see if they can make some money.

mark montero, thank you for joining us. that was fascinating. hope you can come back soon because collectible turn people on. see you soon. back to the market. the dow 30, more losers than winners and the dow is down 37 points. prince harry thinks you should quit your job if it doesn't bring you joy. anybody take him seriously at this point? i will ask nigel farage. he is next. ♪♪

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stuart: britain's prime minister boris johnson telling brits to work from home as omicron continues to spread and announcing mandatory proof of vaccination required to enter nightclub and other venues and mandating masks on most indoor places was nigel farage joins us, the uk is going backwards. what's going on? >> the european union's direction, he said you need to

have mandatory vaccination. never thought i might hear this from conservatives in my lifetime. what is going on? he is in big trouble, big big trouble. it now turns out when the rest of the country was locked down, couldn't even visit friends, several things took place. some drunken passes including by which a door got broken. when boris is confronted by this he denies all knowledge of it. the newspapers are going bad, the conservative party and estate -- he had the worst day of his premiership ever, the labour party, as a diversion

tactic, gets up and says omicron is serious bringing in top measures. by my reckoning he's losing on both counts. stuart: it is a shock, i was not expecting that. prince harry telling people of their job doesn't bring them joy they should quit. have at it. >> if you are a royal prince you can quit when you like him you have tens of millions in the bank and life is easier. the truth is you never had to work. the disconnect between this man and his wife who lecture us about climate change, fly around the world in private jets and the idea that if you are not happy, give up your job, when hundreds of millions of people across the western

world doing their damnedest to pay the mortgage, bring up their kids, even if they don't like their job have no alternative shows how hopelessly out of touch prince harry has become. almost got to the point i feel sorry for him. he is diluted. stuart: will he ever come back to britain? will he be welcomed back to britain? >> i was in florida last week and met donald trump and said to him harry is our most recent british export, we are not in a mood to have him back so he is yours. stuart: thank you very much. extraordinary gift on your part, we appreciate you. you are all right and we hope to see you again. good luck with the new restrictions. thanks, moving on. the former nfl player chad otrisinko talks about his

football career. ashley: the fitness by it, mcdonald's. listen to his endorsement. >> my success and everyone else's, ask any of those succeeding right now and haven't been hurt, mcdonald's. ashley: mcdonald's is the answer. he says he has had a healthy nfl playing career thanks to the golden arches. he loves mcdonald's food so much he takes every first date there and probably last, he works out while eating it, even had it delivered to nightclub vip areas. johnson matter-of-factly says mcdonald's is responsible for his clean bill of health over his 12 year career with the bangles and patriots, forget those high end places forcing you to eat supposedly healthy food. mcdonald's indeed is the answer. not sure what his trainers would say but it works for him.

we want the best endorsement of mcdonald's i ever heard. good stuff. here we go. attribute question. who named the pacific ocean. the answer after this. . . and to be prepared if anything changes. with ibm, you can do both. your business can bring data together across your clouds, from suppliers to shippers, to the factory floor. so whatever comes your way, the wheels keep moving.

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♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. stuart: before the break we asked this question, who named the pacific ocean. ashley, do you want to take a guess on this? >> i have no idea but i am going with sir francis drake, number three. stuart: okay. the answer is, reveal, please,

ferdinand magellan. the portuguese explorer. that is the man. he sealed, into the pacific ocean in 1520. he called it pacific because the water is calm. pacific means peaceful. the pacific ocean covers 578 square miles. the all the world's continents could fit in it. it is huge. you remember donald trump came down the es can escalator, the word huge became it. "friday feedback," email at varney viewers at fox.com. you might see your questions asked and answered on the air. it is on the show tomorrow morning. fox will light a new all-american christmas tree later today. watch the ceremony fox square, where it is taking place, watch on fox news at 5:00 p.m.

look at it now, early wednesday morning, one in the morning that was a flaming hulk. by wednesday morning it was burned out completely. look at it now. 24 hours later, it is almost back in mint condition. we rebuilt it. that is fox's commitment to resilience and coming back strong. it's a wonderful thing to see. watch that relighting at 5:00 p.m. eastern tonight. time's up for me. neil, it is yours. neil: what is amazing, stuart, we sieve in a city and a time, right, you call a contractor to do a job like that, we'll have it done by march. stuart: yeah. neil: 24 hours later! stuart: terrific. neil: incredible, absolutely incredible. stuart: great effort. neil: thank you very much, stuart. we're looking at that and the big relighting if you will a little more than five hours from now but also keeping you abreast of the latest developments on the corner of wall and broad after three heady gains of advances major markets giving back a little ground right now. that might not be