a good southern name. dagen: what do you think? >> i don't like dogs but i can appreciate the cute cuddly ones from a distance. dagen: i can admire someone who can admit that. i love my dogs but i don't have children. they are my for babies. thank you so much for being here this morning. "varney and company" starts right now. stuart: good morning, everyone. covid absolutely dominates the news. the omicron surge continues and there are all kinds of repercussions. start with school closures. in chicago teachers voted to go fully remote. they say classrooms are not safe. same in boston, detroit and milwaukee, remove learning only because of the omicron surge. that leaves hundreds of thousands of children and their parents forced to stay home. think of the mess. testing.

wildly confusing new guidelines from the cdc of the gross shortage of rapid tests. biden has ordered 500 million test kits the contract of not been signed. travel still messed up. 1200 flights canceled so far today, 1500 cancellations yesterday. another 869,000 new virus cases reported tuesday. the president blames the unvaccinated for this surge. he says this is a pandemic of the unvaccinated. we vaccinated people are getting infected. in short there is mass fusion. we are not getting clarity from our government. let's go to the markets apparently ignoring strong private sector hiring, 807,000 jobs added this morning, the dow, the s&p, relatively flat this morning but the nasdaq after a big drop yesterday down again this morning, the tech

heavy nasdaq tuesday continuing its decline. interest rates in the higher-level recently, one.65% of the yield on the 10 year treasury. bitcoin still on pause. 46,$000, it has been at that level for some time. one last headline, this is important. the washington post says senate democrats and republicans are talking about new covid relief. this time targeted at businesses, restaurants and entertainment industry. more stimulus may be. wednesday january 5th, 2021, "varney and company" is about to begin. stuart: i am sorry. i did it.

it is 2022. let's get on with it. the cdc updating its post isolation testing guidelines. it is already confusing so what is new? >> give me one more chance. from the cdc. if you test positive and if you want, infections. if the test is positive, isolate for 10 days. if it is negative reenter the world, does not rule out infections. they did point to the science. those studies indicate most transmission happens early on. in my opinion when the cdc has

quarantine time for a sympathetic people 5 days, they should have stuck with that and been clear with that but instead they rewrote it or talked about rewriting it 1 million times. stuart: as a mother of three second little of this, you're entitled to your opinion and i hope you express it. look who is here, doctor mark siegel. what is this about voluntary testing to get out of quarantine. what is with that? >> i agree with what lauren said but i don't think it is confusing. everything you said is true and they don't have the rapid test. you just have to look at the markets. two brand new tests on the market, stocks down a point, look at it is down 3 points. wire the stock down?

the federal government didn't prepay rapid tests like operation warp speed pay for vaccine, we don't have the tests. what does the cdc do? after five days to lauren's .80% would be negative but 20% spreading virus. how do i test those 20% if i don't have the rapid tests to do it? i don't know. i want to go to work but don't have the rapid test but check it if you can find one. stuart: some medical professionals say they have not seen a big increase in hospitalization in children. roll it? >> they have to realize covid 19 is soaring nationwide. what do you think in terms of children coming in with omicron, delta, omicron creating this big impact? >> as far as children who are

quarantineing, have not seen a big uptick in pediatric patients. stuart: that's not thing a big uptick in children. what are you seeing? >> doctor jennifer writer has consulted with me multiple times, i have to go with her. i also talk to pediatric infectious disease, cody meisner runs the shop and andy was on the radio with me, here in the shop at the university of utah. you should be there right now in salt lake city but let me tell you they say young children under the age of 5, get a problem with upper respiratory infections, that is the key, not pneumonia, not deep respiratory infections, we see with omicron it doesn't really affect the lungs. it affects the upper respiratory tract. you can get bronchitis, young

children get pretty sick from this but are not going to end up with pneumonia. stuart: what about school closures? is that valid? >> that's teachers unions, not children. if there was ever a time i figured out the teachers unions are for teachers, not for children they are not even for teachers, they are for teachers who want to stay home. on their video screen but from it is mental health damage and develop little damage and socialization damage to children. studies show if you put strategies in place, did i say rapid tests again? where's the siemens, the rapid at schools? if you have rapid tests in place everybody's vaccinated or boosted you can't keep schools open and masks, use masks and you can keep schools open, that the teachers union in chicago playing that game and it is an absolute disgrace.

stuart: thank you, i will get to that story immediately, thanks a lot. a maddening story, teachers in chicago voted to return to remote learning only despite no proof the classrooms are unsafe. take us through this please. what happened to the federal money to stay open. >> it was $130 billion to stay safe and open, 3 rounds of money, $2.8 billion, this feels maddening especially if you are a parent in chicago. the schools are open but there will be no learning taking place in the schools or online. this is what happened. the teachers union voted to go remote but the mayor and the district said no way, this is a teachers walkout. you might not get paid and they are arguing you can't but the nation's third-largest school district virtual overnight and expected to be seamless and expect parents to be okay with that and parents to be able to

go to work. no one has any idea what happens tomorrow. there is anger, frustration, after all this many teachers saying we want to be vaccinated first and they are, 91% vaccination rates and we learned from the past two years kids are safest and most successful in the classroom but in chicago no learning is taking place today. stuart: i can tell how you feel about this. >> makes no sense. stuart: we will cover this for the next three hours. it needs to be covered properly. lauren: there is an administration decision in chicago and the press. if you want the unions backing and their money you might be siding with them but if you want parents to vote for you you have to make schools open. stuart: check futures, back to the markets, not doing much today but look at the nasdaq down another 85 points as we speak. shah gilani is with us. wise the excel often big tech? >> a confluence of a few things.

the way investors and analysts look at valuing growth and value companies is based on discount interest rates. the higher interest rates look like they are going to go the greater discount on the present value of the company so they are anticipating, analysts are anticipating high rates so discounting that and therefore knocking down the expected valuation, investors following suit, selling and what is happening there is so many big tech names are in so many etfs including 4% yesterday. when investors sell those stocks the value of those etfs come down and redemptions cause further selling of the same thing so you get this round robin selling, a great opportunity to buy, and in the final analysis these companies

have everything you want, the growth in earnings, the cash flows, building mounds of cash. any opportunity down lower here is a buying opportunity, to get in. stuart: thanks for being with us, you are the king of dip buying and you will be doing it again too. take a look at apple, it is the first three trillion dollar company. did warren buffett make some money out of apple? >> in 2018 a 5% stake for $36 billion, worth $160 billion now so apple is 40% up, berkshire hathaway portfolio, tech is out of character for warren buffett but he called the iphone a sticky product and he was right and this. stuart: that is a lot of money, thanks. back to futures, the market not

doing that much this wednesday morning except for the nasdaq which is sharply lower again. a record 4.5 million workers quit or changed jobs in november. to me that is a positive. people are moving up the food chain looking for better wages. i do what mike thinks of that, the dirty jobs guys on the show in the 11:00 hour. is it positive to him? president biden continues to insist this is a pandemic of the unvaccinated. role tape. >> there is no excuse for anyone being unvaccinated. this continues to be a pandemic of the unvaccinated. stuart: blaming the unvaccinated again. sean duffy will take that on after this. ♪♪

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stuart: the market opens in 13 minutes, the dow will be virtually flat but the nasdaq will be down again. big tech probably down again. here's how they look at this moment before the market opens. apple, amazon, meta-alphabet, kicks slightly high, microsoft, all of that down again. president biden still claiming this is a pandemic of the unvaccinated. role tape. >> president biden: let me be absolutely clear. we have in hand all the vaccines we need to get every american fully vaccinated including the booster shot. this continues to be a pandemic of the unvaccinated.

stuart: good morning, sean duffy. people who are vaccinated are also getting covid. is the president playing wrong about this? >> i think what is interesting on this topic is everybody in their personal lives because of the 6. of omicron has gotten so pervasive across the country everybody says who is getting omicron. people who are double vaccinated and people who are boosted are getting omicron. in my life i look around in new york city or dc or wisconsin, people who are vaccinated or getting this disease. even if you say look at this, the new york police department, look at hospitals, all these people are vaccinated, look at airlines where everybody is vaccinated, huge shortages, everybody is coming down with omicron. this is not a pandemic of the unvaccinated, this is a pandemic of the vaccinated. this is a small subset, go to capitol hill, doctor monahan

said we should all telework right now because there's been an explosion of omicron on capitol hill, breakthrough cases means they are vaccinated. the president is flat-out wrong, don't know if it is denial or i want to look at political science as opposed to medical science and i can't beat it and have to blame something or someone in the only way i get out of this is to blame the unvaccinated even though it is untrue. stuart: i want your comment on school closures, chicago, detroit, boston, milwaukee, remote learning only. where is the science behind that? >> it is not science but political power of teachers unions, teachers are vaccinated, kids are falling behind from china and india and the rest of the world, isolated, mental health issues, this is outrageous, parents are

so fed up with teachers unions and public education, for people to push back on this. i ask who is in charge. the teachers union work for us or work for them, i thought i pay taxes so respond to the needs of children and family to educate them. that's not the case anymore. stuart: a perfect opportunity for republicans this november. president biden brushing off questions about the lack of covid tests. >> he said to google it. >> president biden: it is frustrating but we are making improvements with more capacity, we should see waiting lines shortened and more appointments freed up, covid

tests on google, find out where they are. lauren: nothing on half 1 billion tests to americans this month. this is him waving the white flag here. he can't figure his way out of covid 19. that statement is one of many. stuart: is the problem of his own making. where has he been the last year, when we should have been getting these tests ready, we are located the money, where the tests? neil: vanity fair report in october, here's the plan. sign off on this so you can get millions of tests to americans before the holidays. stuart: i need you to update me on more companies changing the back to work policy. i understand black rock and american express made a change. what is it? lauren: american express is pushing the return to work to

january 2, '04, passed january 4th. they will give two weeks notice, don't know when that will happen. work from wherever you are comfortable through january 20 eighth. stuart: how about macy's? they are cutting store hours but is that in all stores across the country? lauren: yes. every single store monday through thursday, the hours are open at 11:00, about 2 hours shorter each day, this is what they have to do the weekend hours are the same. stuart: check futures one more time as we approach the opening of the market, not much change except the nasdaq which is down again. "the opening bell" next. ♪♪

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stuart: david nicholas is with us and our market watcher three or four minutes before we go with the market trading with rising interest rates of upset tech stocks big time. why is that? make the relationship, why the text ocelot as rates rise.

>> the first is demand. tech companies can do very but because it doesn't rely on the walking into a store to buy a product, getting on a plane, checking into a hotel, it can excel in periods when demand drops. the second reason is valuations. when rates are low like they are that allows tech valuations to increase so as rates rise can we still afford to pay those lofty premiums, it is a good thing, demand should be coming up. that may bode bad for tech stocks, the robust demand to do well. stuart: the yield on the 10 year treasury is the key

interest rate, what happens if it goes to 2%. >> reporter: rates drop for a period of time is reversing, rates have been dropping, we have a reset at 2%. we can't seem the same fundamental that is bad for tech stocks. i think one 75 for the tenure, no question, to present this year. that is where we have these conversations. stuart: if we had 2% is there a selloff in big tech? >> value names and the s&p no large-cap tech, got too detached from reality.

stuart: we had quite a dip in big tech recently. are you buying that dip? >> we are not. i want to make a difference. not all tech companies are the same. microsoft and apple will do well. companies like shopify that have extreme valuations. we are shipping value, names like macy's, traditional names that rebound, names like gm and ford that we talked about, ibm as a tech name, 3% dividend trading extremely low multiples. stuart: thanks for joining us, see you again real soon. in "the opening bell" will be ringing in about 40 odd seconds. let me give you the backdrop to today's market action. first of all there was a huge selloff in big tech. that was yesterday and it continues this morning. look at the nasdaq, premarket

down 73 points. as we were just talking about interest rates have been rising. second factor today the omicron surge continues. we had 860,000 new cases reported yesterday. that may be slowing the economy, certainly slowing travel and some businesses are slowing down. you can hear them clapping and cheering, we are close to opening the market, three seconds away and some red ink, that is my prediction. we started trading, the dow was off four five points. that's not a huge cell. among the dow 30 two thirds of the dow 30 on the upside this morning. it is slightly lower, for points down. down another half a%, 75 points.

bearing that in mind look at big tech, after the markets open, active trades now, microsoft, alphabet, amazon, all down, apple up a mere $0.06. technology still taking it on the chin. let's take it away from big tech. beyond meet up 6%. what is this about beyond fried chicken? lauren: you can buy it at kfc starting monday. i can tell you this. new technology at this time, they will replicate the muscle fibers so apparently it is good. beyond meet needs to help, a 6% gain, the stock is cut in half. stuart: i could see a tweet or email coming about chewed and glued. walmart and kroger, if you are

lucky enough to find a one. what is the story? >> the test is very popular, made by abbott and walmart and kroger are no longer selling them at cost which is $14 because there deal with the administration has expired. they are $20 at walmart, $24 at kroger. walgreens and cvs, i give credit to walmart for cost at 20. >> not like they are price gouging but moving up to what everybody else is. to bit coin, seems like it is stock around 46,$000. lauren: the range to be precise over the past four weeks, 45,400 to 52,100. that could change today. the minutes from the fed's last meeting.

how aligned are policymakers trimming the balance sheet, hiking interest rates. bitcoin and crypto currencies emerging technology, tech stocks are sensitive to monetary policy tightening. stuart: didn't realize that connection. our about interest. there is one investment firm out there that says that stock is absolutely going to take off. lauren: piper sandler, stocks will go to 53, user based on mobile, they call it stable. guggenheim cut pin --

pinterest, stock is down 9%, i don't call at one% gain a rebound. stuart: sharply higher, i am seeing on my prompter here sony is getting into the electric vehicle game. what? lauren: they are an entertainment company. think of all the things you can do, shows you can watch so they unveil something called the vision suv and a new division called sony mobility which plans to start commercializing ev. they announced they are in this space but everyone expecting apple to get in so they are trying to compete and personalize what you've got. stuart: i thought, the

entertainment in the car. >> the unveiled concept cars, not sure they would go about producing a car or produce entertainment in the car could be both. stuart: it could be tesla, apple, sony cars. they got a deal with usa truck, what are they about? >> usa truck is logistics company, they agreed to buy ten nicola trucks and the option to buy 90 more over the next two years and that is a big contractor. stuart: let's wrap this up with five minutes into the trading session already looking at the dow winners headed this morning by intel up there, $54 a share. s&p 500 winners headed up there by new or, no big names on the s&p 500 winners except pfizer.

nasdaq winners, intel, comcast, bio jen and fox corporation. check the big board. five minutes into the session, not much change. the 10 year treasury yields 164. the price of gold still around 1827 to be precise. bitcoin again 46,$000 still there. $17 a barrel. moving slightly higher again, the average price for gavin of gasoline pretty stable, 329 and a year ago on this day it was 226. california, 466 the average price of a gallon of regular out there. senator joe manchin confirms no new negotiations on build back better.

>> there have been no conversations. i was very clear, i feel as strongly today as i did then. lauren: a report from the washington post says there's more covid relief on the way for businesses. we ask senator john barrasso about that later on the show. eric adams promises to crack down on crime the city's new district attorney says he is not going to prosecute some felonies. you won't believe what he is going to prosecute. look at these flyers in florida, stuck in cars with new york license plates. they are warning woke new yorkers to stay out of the state. ♪♪

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stuart: travel nightmare continues, 1300 flights canceled this morning. of dallas fort worth airport. are these mass cancellations the new norm? >> >> the winter storm is impacting parts of the country. we will get into that just a second. we talk about conditions here. smooth sailing when you look at flightaware, misery, most of the problems, read on the map is the east coast. network is leading with the

most delays and cancellations, chicago, o'hare, smacked by this winter organization. the total across the us delays and 127,000 cancellations coming in the united states, the numbers you gave earlier are globally. this is down significantly from a week or so ago, in the thousands. >> into the airport, shortage of theft, stood in line for quite a while. >> on the line with customer service with different flights when it wasn't working. >> as we said this isn't due to mother nature, the airlines, the faa reporting large numbers of staff ever came down with covid. that take them out of service and creates big gaps in the scheduling from flight crews,

air traffic controllers, the list goes on and on. a lot of airlines are offering special cash incentives to healthy and able employees who pick up over time and work extra shifts to keep these planes in the air. stuart: see you again later. people have been fleeing democrat states in droves. we've been reporting this for at least a year. the ceo of conservative moon. we know people are moving, leaving california, new york, illinois, texas, and florida. i want to know who is moving? is it mostly retirees going to florida? >> it is mostly middle-class families. if you are on the east coast, new yorkers are coming to florida, on the west coast your number one destination is texas or tennessee.

i saw that piece of paper you put in the window of a car in florida warning about those that are moving. and give your viewers some in formations the when you look at a race in texas between veteran crews in 2018. more native texans voted for the democrat by 60-40 split. more of those moved to texas are voting republican. recently the idaho democrat chairman had a freak out about all the people moving to idaho concerned that it is not going to turn idaho blue but more red. the trend of conservatives, republicans moving to the states helping to vote more republican and not turning the states blue. stuart: talk about all these people who have gone to texas and gone to florida, do they stay or do they stay for a couple months and go back again? >> they are staying.

we describe it as leaving a bad relationship if you will. when you get out of the bad relationship and truly out of it you look back and go how did i tolerate that kind of abuse and lack of freedom, forced masking at high taxation and crime, all of those factors play into individual people's minds. these are pocketbook issues, costs of living is much better in florida and texas in tennessee and idaho but the trend is much different with families of retirees looking for a place for freedom and what is fascinating about this is the numbers have been increasing even during covid and if you look at the congressional representation today, blue states have lost congressional seats, texas, picked up, florida picked up, new york lost, california lost. the message is those that are moving to these blue states are largely conservatives. compare it to people moving,

leaving cuba, or ellis island, coming into your states with personal experience telling voters we just fled from these nonsense policies, don't do the same to your state. stuart: the title of your company is conservative move. i take it business is booming. >> it is booming. if you can imagine air-traffic controllers looking at planes flying around the country we operate 40 different states, flights moving out of blue states to red states and it has been a tremendous opportunity. we are helping families because they have personal lives, leaving places they knew, it is an emotional process, not to leave the place you grew up. stuart: congratulations on your business and see again soon. i stick it back to this. palm beach police investigating flyers we've been talking about posted on cars with new york license plates. i want to hear more about this. take me through it.

neil: if you're one of those woke people, leave florida, you will be happier elsewhere as well we. palm beach is a wealthy community and the residents 85 are bad, show lack of respect for different opinions but others said this is brilliant. let's build a wall around florida. i would love to know who put these posters up on the cars with new york place but police are investigating to see if any laws were violated. i don't think they will find anything but the message has come across. if you're very woke, stay back where you came from. stuart: the senate committee is strong in florida, don't bring your politics down here, don't miss the state of like you messed up the others but i'm getting carried away. thank you very much. look at the markets. i see reading across the board, the dow is down. look at the nasdaq a huge drop

yesterday. another big drop-down 2 thirds of one%. look out below. look at ford motor company, vehicle sales in america down 17% in december over the previous year's december. good news to their electric vehicles, they sold 12,200 of them last month and that is an increase of 121% from the previous year. coming up, jen psaki denies the white house is lost control of the virus. role tape. >> the country has lost control of the virus? does the white house agree with that? >> we would not. lauren: new records being hit, and a shortage of covid tests. more setbacks for the cruise lines, the cdc warns people to avoid cruise travel regardless of vaccination status. what are the cruise lines doing about that. ashley webster will report from port canaveral next. ♪♪ sale away ♪♪ sale away

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stuart: the cdc is investigating 90 cruise ships

that have or have had outbreaks of covid. the cdc tells people regardless of vaccination status stay off the ship so what is the response to the cruise lines? >> reporter: nothing i can say on tv to be honest with you. they are furious. they jumped through every hoop, taken every safety protocol. as for those ships that are being investigated all it takes is one case and that ship is considered under investigation. when you consider ships carry passengers, to put it in perspective the cdc has designated cruise traveling as a level them for health alert, the highest level of morning. as for the industry the cruise line industry association put out a statement from the cdc, it says, quote, a cruise ship provides the highest levels of demonstrated litigation against

the virus. we are disappointed and disagree with the cdc decision to single out the cruise industry. let me bring in captain john murray. one step forward two back feels like with the battle with covid. the cdc announcement didn't contact anybody in the cruise industry, just put out this statement. >> the cdc does a lot of these things. it is not a surprise. ashley: how frustrating is it? >> bookings are still strong, ships are failing, the protocols are working so it's not a different situation than it was two weeks ago in my view. ashley: someone said it is safer on a ship than a supermarket. >> i would rather the omission behind us than in a supermarket any day of the week. ashley: there you have it. this is the norwegian gem 30 minutes ago from new york. on its way to the caribbean and i am going to do that.

ashley: i know you, we will see you next couple hours. great stuff. still ahead senators john barrasso and rick scott, martha maccallum will join us and so will micro. the 10:00 hour of varney is next. ♪♪

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♪ working 9 to 5, what a way to make a living. ♪ barely getting by -- stuart: i regret to say that there are not that many people in those office buildings working 9 to 5, but that's the way it is in new york and about every place else. good morning, everyone, it's 10:00. here's what's happening to your money. the dow is up a fraction, s&p up a fraction, but the real story is the continuing decline of the nasdaq composite. and why is that happening? tech stocks being hit hard by this rise in interest rates, 1.65% on the 10-year treasury. bitcoin still pretty much in the doldrums, $46,700 is your current quote. that's the markets, now this. the schools in chicago are closed today. in a union vote, 73% of teachers decided to abandon in-classroom

learning and go fully remote. the union says classroom conditions are unsafe. so 340,000 students are at home in chicago this morning and so are their parents who were given just hours to arrange for their care. the union wants a raft of additional protocols; special masks in-school testing sites, pcr tests for all and, of course, money. they didn't get it so they walked. wait a minute. wait, wait. the american rescue plan gave $129 billion to school systems to get classrooms open. illinois alone got $5 billion. ah, but that's not enough for the teachers union. it's never enough. look at this tweet from union leader randi weingarten. this was yesterday. we know kids do better in person, but the spike is real. we need adequate staff and the safety measures in place including testing, masking, ventilation. there is a lot of stress is. oh, please, cue the eye roll. this is actually a gross failure

of biden's testing response. testing is chaotic. cdc rules are contradictory and confusing. omicron rages despite mass vaccination and now the schools in chicago, boston, destroy and milwaukee is -- are going remote. the president himself has said the schools must be open, so why isn't he applying serious pressure? the first lady is a member of the teachers union, and there are millions of parents struggling with the education of their children. i'm sure they will be voting this year. second hour of "varney," well, we're just warming up. ♪ ♪♪ ♪ stuart: all right, all right, all right. i'll calm down a little. but here is liz peek who's probably going to fire me up all over again. liz, parents -- i speak to a lot of parents. they are absolutely fed up.

am i right? is education going to be one of the biggest issues at the polls this november? >> stuart, you're totally right. and please, do not calm down. this is a topic that should enrage all americans. we know that kids have been so severely hurt during this past two years when their schools have closed. all kinds of other issues have arrived. increased suicide rates, depression, child abuse going unchecked, etc. this is absolutely unconscionable, that these schools, these teachers unions are again doing this. let's just get rid of any doubts or confusion if here. why is biden not pressuring the teachers unions? because every cycle now, every political cycle they contribute tens of millions of dollars, 94% of it to democrats, and they are the loudest political voice in our country. that is a fact. not only in terms of political contributions, but also in terms of lobbying. this is a force that democrats

are terrified of and will not confront. but also, stuart, i think this raises an interesting issue about accountability. it's not just the $129 billion that have gone to schools. what about the $100 billion that was stolen by criminals from the paycheck protection program? $3.5 trillion has been spent. where has it gone? republicans have so much to run on this year including, in my view, accountability. there has been no accountability for all this money, and the teachers unions and the school spending is the tip of the iceberg. stuart: do you think the parents will be an emerging demographic voting political group? i don't think they've ever been combined as the parents group of voters. maybe this year it's going to be different. >> i think if there's a silver lining to covid, stuart, it has been that parents are aware the teachers unions do not look out

for their kids, they look out for themselves. and, secondly, they are teaching things to their kids in school that are absolutely reprehensible. they're teaching kids, for example, that race, the color of their skin is more important than anything else. when christy gnome -- when actually new hampshire passed legislation barring that teaching children the color of their skin could be something they could be blamed for, the teachers union sued the state. kristi noem passed similar legislation that basically said all kids are created equal. that is how absolutely malevolent a force the teachers unions are, and i think parents are waking up to it. to your question, yes, parents are a force. and those soccer moms, now they are truly torn. i don't think they're going to support candidates who belief in all this -- belief in all -- believe in all this nonsense and who do not allow their kids to

go to school. stuart: well said. you didn't fire -- well, you calm me down a little bit. but not much. [laughter] >> i hope not. happy new year. stuart: you too. staying on 2022, former president trump will attend a fundraiser for republican midterm candidates. lauren, do we know when this is going to happen and which candidates? lauren: so it's february 23rd, and the former president will be join by a select group of republicans that he has endorsed for the midterms. not sure which ones, but karl rove has said trump endorsed 85 republican candidates last year. so this is a way that the former president can test his political sway, right, as measured in these midterm elections and local elections as he builds, potentially, for a 2024 run. stuart: all eyes on 2024 and that february the 23rd fundraiser. all right, lauren. let's get back to the markets.

michael lee, we often call him a super-bull,s he joins us this morning. after 20% gains last year, a lot of investors made 20% gains last year, certainly the overall market did. historically, what comes next? >> so when you have a market that's up over 25%, 85% of the time the market's up the next year on average of 11%. and when your up -- you're up 10% in the fourth quarter, about 90% of time you're up on average 5% the first quarter. so you get a lot of momentum behind this. obviously, this market at some point is going to run out of gas, i just don't think that's anytime soon. if you look at all the factors that we've already priced in, the fed stopping quantitative easing, three interest rate hikes up from two and the accelerated taper, so just over the last couple of months we've had a lot to chew on, horrific inflation numbers.

the omicron variant and still we are making new all-time highs. stuart: have we still got a lot of money on the sidelines? i know you often come up with figures from money market funds. that's basically cash. how much is in there now? >> $4.5 trillion as of the last reading, and we also have close to a trillion dollars of announced stock buybacks. and the other thing is earningings estimates have been too low since june of 2020 for the s&p 500. i think that trend continues this year, and as these companies are producing cash and making more money than the street expected, those buyback numbers, i expect to see them increase. i think it's going to be another good year for stocks. stuart: how about big tech? >> yeah, look -- stuart: everybody knows i've got a thin sliver of microsoft. it's down about $20 a share at this moment. how does big tech look in the immediate future? >> well, that really revolves on interest rates because if rates are going to head materially

my -- higher, so if 10-year goes up to 2.5%, you don't need to pay these multiples for these growth stocks that we have over the last couple years. if rates stay muted and we have a 10-year that kind of collapset hits a wall at 1.75, i think tech recovers. so i'd be watching that, for that report. if race -- if rates are higher, you can buy other assets and you don't need to pay up the way you would if rates were lower. stuart: okay. i understand that. happy new year, young man. see you later. lauren's looking at the big movers. among them is boeing. what have you got? lauren: number two on the dow, stuart. they have an allegiant air order of up to 100 737 max jets. vegas, this is a bet on boeing but on tourism coming back in a

big way. take a look at nielsen and lucent. both of these stocks are down sharply despite a tie-up. lucent is a luxury electric vehicle player. they're planning to start selling in europe this year, and then you have nielsen seven collaborating with them, so both stocks are down. sell the news, i guess. and viacom. have you watched paramount, the kevin costner show called "yellowstone"? it's about montana ranchers, how the other part of america lives? guess what, stock's up 1.5%. that show, most watched on cable since "the walking dead" back in 2017. stuart: wow. i should watch that. i'm a tree farmer. march lauren i know. stuart: i find this interesting, you know, the delivery service expansion. walmart expanding this, what is it called, the direct to fridge in-home delivery in what's the big expansion there? lauren: yeah. because we're so lazy.

it's to 30 million people this year. it's a big expansion from 6 million, so it requires that they hire 3,000 additional people to do it. so this is how it works. a walmart worker wearing a camera comes in your home with a mask, and they put the groceries into the fridge. they sanitize everything that they touch, then they get out of there. it's a new market called delivery as a service is. the cost is about $20 a month. i love it, but my question is do they clean out your fridge before they put all the groceries in there? [laughter] that's what i'd pay $20 a month for. stuart: i would really like to know how many people will pay $20 a month for an in-fridge, in-home service. i'd just like to know that. lauren: they've tested this for a few years now and, apparently, it's popular, and that's why they're expanding in a big way. like, five times what they're currently doing. i think i would sign up for this, stuart, if they clean my fridge. [laughter] stuart: cream on, lauren -- dream on, lauren, dream on.

the new mayor of new york city, eric adams, he's tearing into big banks for delaying their return to the office. we'll tell you what he's saying. a record number 4.5 million people quit their jobs in november. i say this is a positive. i'll explain that one. senator joe manchin says there's been no conversation about reviving the president's build back better agenda. he still rejects it. but that's not going to stop senator schumer from trying to ram pieces of it through. senator john barrasso takes that on next. ♪ ♪ a little more bite, a little less bark ♪♪ ♪ ♪ ♪ ♪ ♪ ♪

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♪ ♪ stuart: the main story of the morning on the market is the continuing decline of the nasdaq composite. interest rates are pretty high or moving up, i should say, and that hurts the technology stocks which are a favorite, a big part of the nasdaq. down nearly 100 points right there. the new mayor of new york, eric adams, is scolding new york city's big banks. is this over remote work, lauren? lauren: it sure is. and just in the past hour we told you that american express and blackstone are pushing their return to work days on so much the major banks. mayor adams says that's a bad move. you can't run a city, because you need the workers at their desks. a, he's right, but the force might be too strong against him. there's a career site called ladders, one in four jobs will be fully remote next year, it predicts. and what about boosters? that further complicates the way you get workers back in your office, and mayor adams says

expect an announcement on that third shot in april. stuart: now this, a record 4.5 million people quit their jobs in november, the highest number of resignations in two decades. edward lawrence is with us. edward, do we know what these people do after they quit? >> reporter: a number of them get rental assistance from the federal government as well as some will try and get on unemployment. now, we had some good numbers, the adp shows that 807,000 jobs were added back in the private sector. the issue is in these numbers here. as you said, 10.6 million job openings with 7 million unemployed. the white house lowering expectations again while pushing companies to institute vaccine mandates. >> there are still many people who are fearful about going back to work. that is one of the reasons why it's important to put many place these requirements and why employers have taken steps to provide that certainty to people in their workplaces. >> reporter: and so republicans are saying it's the vaccine mandates that are

keeping people out of their jobs. as you mentioned, there are 4.5 million people who quit in november, that's a record number. that added to the number of job openings. now, this disconnect has white house economic advisers scratching their heads. republicans say the government just needs to get out of the way. >> if you pay people not to work, they'll choose not to be able to work. that drives up wages, that drives up inflation, all the things we saw last year with rapid are inflation, all were triggered on this huge into it entitlement that democrats put in place last march. they want to increase that this year. it'd be even more toxic for the economy long term. >> reporter: and the latest polls are showing 60% of americans do not approve of the way the president is handling this economy. stuart: 60%, was that? >> reporter: 60% was the latest poll. stuart: i hear you. edward, thank you very much, indeed. see this? washington post says coronavirus relief talks are beginning in

congress. interesting. senator john barrasso joins us now. mr. senator, i just saw that headline earlier this morning. it seems that they're saying both sides of the senate, republicans, democrats, getting together for more covid relief aimed this time at businesses like restaurants. what do you say to that? >> not on my watch, stuart. no additional money. we need accountability for the money that's already been spent. remember the democrats put $2 trillion in so-called covid relief pass only by democrat votes in march. i think it was one of the things that really stimulated the inflation that we're having to live with now. we need accountability for that money. there was $47 billion in that package for coronavirus testing. turn on the tv and what do you see? lines blocks long of people waiting to get tested. joe biden said, gee, i wish id had thought about ordering more

tests. he's so focused and obsessed with the mandate, he ignored testing, ignored treatment, and this is what we have right now. we need accountability for the money that's already been spent. stuart: your colleague on the other side of the aisle, senator manchin, still rejects president biden's build back better plan. listen to what he had to say about it. roll it, please. >> there's been no conversations after i made my statement. i think it's basically, you know, and i was very clear, i just, i feel as strongly today as i did then that the unknown with covid, here we are, we can't even go -- 95 and 95, we all saw that. so there's different concerns that we have right now that we haven't had for a while, so that's a concern. inflation's still a concern. it's still over 6%. stuart: mr. senator, it sounds like he's still adamantly opposed to build back better. do you think any part of build back better will actually go through? >> i'm going to continue to oppose all of it.

i this joe manchining is -- i think joe manchin is absolutely right. his state of west virginia is very much like my home state of wyoming, and the concerns he's hearing about it are what i'm hearing at home. inflation and covid and joe biden has failed miserably on both of those. you're right, chuck schumer is talking about trying to try to resurrect, bring back from the dead this massive tax and spending bill which is so reckless. people know why they're against it. all of this money for new entitlements including for illegal immigrants, what they want to do in terms of tack tax -- taxes, in terms of penalizing american energy which is just going to make energy prices go up, make inflation worse. i hope joe manchin sticks to his guns. stuart: wyoming is very much an energy state. you've been clobbered by this administration. >> this administration has declared war on american energy. they did it day one when joe biden killed the keystone xl pipeline. he's also gone after exploration

for oil and gas on public lands. that not just hurts my home state, it hurts americans. we are -- should be -- american energy dominant. not canning is rush -- not asking russia and saudi arabia to produce more to sell it to us. energy is called the master resource for a reason. we have it here in america, we ought to be using our own, not penalizing the american people for producing american energy. stuart: a year ago we were energy independent, and now we're not. senator john barrasso from the great state of wyoming, which i have been to, which i'd love to go back to at some point -- [laughter] >> no wonder joe biden's, basically, approval rating is now at an all-time low. stuart: yes, it is. especially in wyoming, i'm sure. senator, thanks for joining us, sir. happy new year to you. see you later. all right, let's get to covid now. we have the brits, as in the united kingdom, ditching some testing. do we have this story, lauren?

lauren: yeah. this is a report in the telegraph, and it's saying that because the positivity rate is so high and the tests are to hard to come by, that they recommend for travelers arriving in the u.k. you could just use a rapt in-- rapid instead of a pcr test. in a way that's like saying bye-bye or rest in peace to pcr tests. heir going rapid all the time. but there's other groups that say they should just scrap the need for testing in general because so many people have the virus. stuart: by the way, i saw boris johnson earlier today in britain, the prime minister, look, we're going to ride out omicron without shutting down the country. so there's a reversal of course there apparently, but not here. all right, now this. wondering where to get a covid test? president biden says just google it. watch this. >> more capacity for in-person tests, we should say waiting lines shorten and more

appointments freed if up. google -- excuse me, covid tests near me on google, just find out where they are. stuart: simple as that. all you have to do is just google it. all right. if you make a payment of over $600 on cash apps like venmo, it'll now be reported to the irs. what does that mean to businesses? we have a report on it after this. ♪ ♪ ♪ ♪

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like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ but i'm not gonna let 'em catch me, no -- ♪ not gonna let 'em catch the midnight rider ♪♪ stuart: gray and chilly in reading, pennsylvania. it is 35 degrees. on the market, the dow now up about 8ing 0 points. still a significant loss for the nasdaq though, down another 76 after a very big drop yesterday. lauren's been looking at some of the movers. start with delta, please. lauren: so jeffrey's coming out and naming delta a top pick. they say air traffic has reached a bottom, and they're giving delta a $50 price target. take a look at ford.

look, their december car sales fell in the u.s.st by 17%, but it's not all bad news even though the stock is down just a little bit. ford is selling everything they're making, so that is good news, and they just a few days ago hit a 20-year high. and diamond diamondback energy, they're making comments on the price of oil and how it benefits them and they say, obviously, oil at over $100 would not be good for the industry, actually. so they're giving some price targets here. i'm just going through this, this stuff is just crossing, obviously. what they're saying -- stuart: diamondback, is that, like, a snake? and is that why the stock symbol is fang? am i being a little obscure here? lauren: you know what? i don't know, but i think you might have just hit the nail on the held, baud i've always -- because i've always wonderedded why an energy company would be called fang. maybe because of the snake.

stuart: i i just discovered something. lauren: you're smart, stuart. stuart: let me move on. payments of over $600 through networks like cash app or venmo will now be reported to the irs. what does that mean? hillary vaughn is on capitol hill with us. how will this affect businesses? >> reporter: it's going to affect in a really big way if they use these third party apps to get their clients to pay them. so it sounds like it's a new tax on these transactions, but technically it's not, it basically means the irs has a lot more information on you and then they have more insight, essentially, into your potentially taxable income. this new reporting rule impacts transactions starting this year as of january 1st but will be a part of your 2022 tax return you file next year. out applies to transactions made through apps like paypal, venmo, cash app. it affects $600 transactions or

more for goods and services paid to you. these apps will have to send you the 1099 pay form to fill out and then send to the irs. this change was signed into law in the american rescue plan last march. the idea, president biden wants to catch tax cheaters, they want to make sure people are paying their fair share. this only applies to taxable income. so if these transactions are considered wages or tips, if you're a hairstylist and your clients pay you through this app, this now applies to you. if you're a small business that runs some of your business through these apps, that is who's going to be impacted most. nontaxable income though doesn't need to be reported. an example of that, if you picked up the tab for your friend at dinner and they sent you money for their share of the meal, that does not count or gifts, if your mom sent you money for your birthday, that doesn't count can. but the catch is, stuart, you're going to need to document and keep records after -- of all this potential taxable income

because if the irs thinks you're cheating and they audit you, they're going to be looking into these transactions and make sure it's actually nontaxable income. stuart? stuart: that's a nightmare. [laughter] all right. thank you very much, hillary. get back to the markets, please. the dow is up over 100 points. it's broken above 36,900. but the nasdaq composite is down 106 points. an absolute contradiction right there. eddie georgia bore is our market watcher this morning. towards the end of last year, you were one of the few people on this show who were turning really cautious and issuing some pretty strong warnings. i understand that now you are worried about february what's the problem coming at us in february? >> exactly right, stuart. and my view being nonconsensus makes it even more confident because the herd many times is wrong. this setup is perfect for what we've laid out to your viewers

and our clients in regard to rotating into more defensive names. fast forward to february, now the focus is going to be on what the fed is going to do in march. there's a lot of research out there that says that by march the worst of this new variant could be behind us, and now the fed -- and that's very inflationary, by the way. and now the fed is out of excuses as to why they can't tighten. i believe that the focus is going to go on to the fed starting to tighten during an economy that is slowing down. it's not a recession, but it is slowing down. and so i think that there's going to be tremendous volatility here that's going to start, as we've been saying, late first quarter. so mid to late february, and carry on for the first six months of this year. so take advantage of it and take advantage of these gains and start playing some defense. we bought real estate this morning -- stuart: you said you bought real estate. is that houses, office builting or reits? >> reits that are tied to

rent. that's probably our favorite sector, especially housing. housing inflation is going to cause rents to really accelerate in 2022, so we think this is a great way to lower volatility for the right investor, get good cash flow in an asset class that has some of the best supply-demand dynamics in recent history. prices have gone up so much, it's going to force people into rentals, and rents are going to increase. stuart: we've been showing the audience big tech stocks. financials on there right now, they're doing well, but big tech just getting hammered. would you buy my -- any of the dip? would you buy the dip right now? >> so right now we have not been buying tech because we've actually been -- we're reducing tech during the strength that we saw in december because of the setup that we think is going to happen next six months. so tech is not going to perform well. if our market thesis is correct

in regards to tightening during a slowdown, we're not buying this dip right now. stuart: you're killing me. everybody knows i've got a sliver of microsoft, and you're just killing me -- [laughter] >> i think you've made a lot of money on it, stuart. stuart: no comment. [laughter] we will see you soon, and that's a fact. my best to the family. happy new year. >> thank you, stuart. stuart: take a look at this. it's a flier, and it was stuck onto windshields, cars with new york license plates. they stuck it on in florida. it's telling woke new yorkers, get out of florida. police are apparently taking it seriously, they launched an investigation. we'll tell you about it. congressman eric swalwell issues a stark warning about republicans if they win in the midterm elections. just listen to this. p. >> if republicans win in the midterm elections, voting as we know it in country will be gone. [laughter] stuart: a man of extremes, is our senator. senator rick scott is on the show. i'll ask him what he makes of

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stuart: we talk about a lot about the white house being under fire for the lack of testing kits. how about a little flashback? ron klain is now president biden's chief of staff. but he said something remarkable back in the summer of to -- summer of 2020 about testing when it was president trump in the white house. what did he say, lauren? lauren: we dug it up for you. he said this: testing still isn't fixed. he said that five times in the between. followed by, we're the richest country on earth, and we don't have enough swabs. well, it's 19 months later, and

we still don't have enough swabs. this is a problem that has dogged the administration that promised, campaigned, and you could argue won the election on a bid to fix covid-19. so what do democrats run on mow? covid is raging, right? not only do we not have tests, but there was an overemphasis on vaccinations. crime is raging -- stuart: not to mention schools are closing. let's not forget that. lawp lauren that too. stuart: parents are very concerned about this. all right. a washington post headline out early this morning, lawmakers begin early talks about another round of coronavirus relief targeting businesses. senator rick scott is with us now, republican from the great state of florida. senator, what do you make of that? do we need more stimulus? [laughter] >> first off, happy new year. i cannot believe we're talking about spending more money up here. i've been up here here three years. i mean, these democrats, they

don't know how to stop spending money. i mean, they don't understand that if you spend money up here, somebody eventually has to write a check for it meaning the american citizen hat to write that check. -- has to write that check. look at inflation. almost 7%. consumer price index, almost 10%. every company and manufacturer i've talk to is seeing at least double-digit cost structure increase. i watched my mom struggle to put food on the table, that's exactly what's happening across this country, and the democrats, they don't care. the poorest families are getting creamed with this inflation. stuart: okay. congressman eric swalwell had a grim outlook to our future if republicans win in the midterm elections. he said if republicans win,s voting in this country will be gone, and if we don't get it right, this could be the last election are. sounds a little extreme to me, mr. senator, but why don't you take that on for us. >> well, first he should say when the republicans win because we're going to take back the

house and senate in november, and we're going to make sure that your vote is not delighted. what should --ty bruted -- diluted. americans believe you should show your id to vote. if you do mail-in ballot, your signature ought to match. shocking, that's a hard one. americans agree with that, democrats don't. they don't want you to show id? why? they don't want elections that are fair. so he's got it backwards. if the democrats win,s they want to do everything they can to make sure democrats always win elections. republicans want to make sure we have free and fair elections. zero stoort mr. senator, i'm sure you saw this, we've been running this all morning. it's someone in palm beach, florida, warning woke new yorkers to leave. it was a flier placed on cars with new york license plates. if you're one of those woke people, leave florida. you will be happier elsewhere as will we. do a lot of floridians -- you're laughing. [laughter] do a lot of floridians feel like

that, senator? >> i think we love people coming into our state. we want to make sure that we're the state we have freedom, lower taxes, less regulation. we believe it's your money. come down and enjoy our freedom, our way of life, your ability to keep your own money and build your own business. stuart: you're having a blast, aren't you? >> stuart, i have a ball every day. i love what i'm doing. stuart: what about people who come to florida and bring their politics with them? that flier on the new york license plate cars, that says, look, don't bring your politics down here. are they changing the politics of florida? >> no. i mean, so when i got elected as governor back in 2010, there were 500,000 more registered democrats than republicans. now for the first time in history we have more registered republicans than democrats. people want freedom, opportunity, lower taxes, less regular regulation, better schools, safer communities, they're coming to florida. stuart: looks like it. maybe me too at some point.

>> you will. matter of time. do it when you're young. [laughter] stuart: you looking at me? thank you, senator. it was a pleasure, hope to see you again soon. >> thanks, stuart. happy new year. stuart: thank you, sir. big tech censorship causing more celebrities and politicians to flee social media sites like maybe facebook, twitter? vivek ram swami says this is just the beginning. new york's new mayor wants to take on crime, but the manhattan district attorney will no longer prosecute people for crimes like resisting arrest and burglary. what? these soft on crime policies are spreading across the country, and we've got a report on that. ♪ we've got the dreamer's disease. ♪ ♪

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♪ stuart: interesting tale of the market here. the dow is up 100, but look at the nasdaq, down 138. i've got tell you now that big tech's taking it on the chin again today. manhattan district attorney

alvin bragg is making changes as to which crimes he will prosecute. they'll no long longer prosecute for resisting arrest, lauren? what else? lauren: meet the new manhattan d.a., he will no longer prosecute for that as well as marijuana misdemeanors, prostitution, trespassing, turnstile jumping on the subway. he will only seek prison for killing somebody, domestic violence, corruption and some sex crimes but no life sentences without parole, and sentences cannot be longer than 20 years. hened responded -- he was funded by george soros. this is major problem for mayor eric adams who campaigned on fighting crime and cleaning up the streets, so what message does this send to the cops? why bother risking your life to arrest someone when the d. oo.'s going to put -- d.a.'s going to put them back on the streets? stuart: yeah. and how would you get people to come back to the city and work in the city with a crime problem that this d.a. is probably not going to solve? i'm going to bring in our

seattle guy, jason antidis. up-- hasn'tdis. -- rants. what's the progressive d.a. doing there? >> we just found out when it comes to juvenile felony cases that some 40% will be put instead of in front of a judge and the potential for going to jail, being forced into these restorative justice programs that effectively say we will handle the punishment instead of a jury. and the problem is that these restorative justice programs -- [audio difficulty] run by organizations that are not just anti-mis, these are groups that don't believe at all in police. and what you -- in prison. what you end up having are violent felonies going down this line. i think reasonable people can say, look, if it's a 17-year-old kid or a 16-year-old who's stealing a candy bar, no,

restorative justice programs can actually work. but when we're talking about bringing a gun to school or stealing cars, committing assault, these are kids who are really far gone, and they could get get the restorative justice, but they could do that in jail and not be released back onto the streets. we have a serious or prolific offender problem, and the mayors who have been experiencing some of the rise in crime in this region, they went to the prosecutor's office and said we need office. you need to help us with this. why aren't you putting us in jail. they were told, get used to it. stuart: oh, my goodness. now, you wrote a piece and you titled it, seattleites complain they can't find woke this werists for segregated -- therapists for segregated health care. what is a woke therapist? >> what they're asking for are therapists who can meet amendment at their intersectional identities. what they're complaining is they

can't find enough therapists that look exactly like they do and think like they do, which kind of defeats the purpose of therapy. we've seen in this region the progressives have been pushing this idea that you should only see a black doctor if you're black or a a latino doctor if you are latino. and now we're seeing it pushed into the realm of therapy thinking they're not actually going to be able to understand your complaints or issues if they don't identify the way you do which, of course, that's not how therapy works. empathy is an incredible part of therapy, and someone who happens to be white or gendered should still be able to provide really good treatment if they've got the background to do it and the background -- the only identity, i think, that matters is the ph.d. and not necessarily whether or not they're black, transgender or whatever it happens to be. stuart: i sometimes wonder if seattle is on a different planet. [laughter] >> so do i. stuart: i'm sure. you still live there. jason, thank you, sir. happy new year to you.

all right. gotta check those markets. a list of the dow winners. the biggest winner is intel. nice gain this morning, looks like a gain of nearly 5%. s&p winners, let's have that list too, please. headed by nucorp. intel's on that same list. at&t moving up nicely, 3.5%. garmin is back on the list at number five. intel tops the nasdaq list of winners, t-mobile. you notice there are no big tech names on the nasdaq winners list. big tech is getting creamed again today. still ahead, martha maccallum, vivek ramaswamy, louisiana center bill cassidy and kennedy. and coming up, my take on the president's blame game again. and he's confused again. covid has exposed a real lack of leadership. that is a big problem, and that is my take next. ♪ ♪ -- for so long it's not true.

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if you have rapid tests in place and everyone is vaccinated or boosted you can keep schools open. an absolute disgrace. >> it is unconscionable the schools, teachers union are doing this with wise biden not pressuring the teachers unions? every cycle. every political cycle contribute tens of millions of dollars, 94% to democrats. >> parents are so fed up with teachers unions and public education system. they are ready for a change. to sit on zoom for a couple hours a day. >> there is a huge trend of conservatives, republicans moving to the state helping to vote more republican, differently not turning the state. ♪♪ you are so golden

♪♪ stuart: i'm not familiar with harry stiles but looking at sixth avenue manhattan, not much traffic out there. 11:00 eastern time, wednesday january 5th, 2022. a tale of two directions, dow is up 80, nasdaq down 103. 10 year yield, one.66%, big tech is down, look at it go down as interest rates go up big tech goes down, that is true yesterday and today. the president is confused and lashing out blaming others. here he is again going after the unvaccinated. role tape. >> president biden: let me be absolutely clear. we have in hand all the vaccines we need to get every american fully vaccinated including booster shots. there is no excuse, no excuse for anyone being unvaccinated.

this continues to be a pandemic of the unvaccinated. stuart: i think that is wrong. fully vaccinated people are getting omicron sometimes twice. vaccination has not stopped or slowed down the latest virus surgeon. the president's confusing statement on testing. listen to this. >> president biden: i know this means frustrating. believe me, it is frustrating to me. but we are making improvements. more capacity for in person tests, we should the way to western dental appointments freedom. google, covid testing on google, just find out where they are. stuart: as simple as that, just google it, really? more confusion. new cdc testing guidelines don't make sense. put it on screen. after isolation test if you want to? best approach, use an antigen test? can you find one?

negative results don't rule out infection. where does that leave you? we've been here before. the problem comes up in the president blames anyone but himself or his policies. meet price inflation, the we could meet conglomerates, high gas prices, investigate the gas stations. high oil prices blame big oil. illegal immigration blame corruption in central america and climate change. the president should hold a real full-scale press conference, the kind donald trump gave almost every day, that way president biden could back up his blame game allegations and clear up his confusing statements. but don't hold your breath, lasting his handlers want is for president biden to go off prompter. third hour of varney just getting started. martha maccallum joins me this

wednesday morning, very good to see you. where is the leadership in covid. >> i'm struck by the first image when you came back from the commercial break, sixth avenue. as someone who commutes in and out of the city every day, i have news, incredible traffic as everybody was back at work and that is what you expect. everybody is back for their vacation and the roads are congested and impossible to get to work but you see what is happening on sixth avenue. all across the institutions public to private, you have another two weeks to slow the spread happening which is a scary idea. we had two weeks to slow the spread, this time we are in a different situation. we have vaccines, treatments, and we don't have enough treatments, everybody would love the president to step on the pedal and show some leadership when it comes to these treatments but there is

no doubt the administration was caught offguard again by the latest wave. despite what we saw in south africa we banned travel from south africa. that should be a red flag that something was coming. in the uk we have the example of watching what they were going through and dealing with it for the first time all over again and kids staying home from school, yale university saying you can't eat outside. the thing is what we want to hear from the president is we have tools to fight this and we need to get on with our lives. the economic damage to companies, i was into restaurant owners, and the social contract with the united states of america, by public education, nobody talks about the fact they are 5 or 6 months behind in reading and math. what is the plan to catch them

up? that is what i want to hear from the president. stuart: i want to see the president put some pressure on the teachers unions and the first lady who was a member of the teachers union. >> absolutely. of the first lady, a more powerful voice than her. to stand up and say, teachers, you have an obligation like doctors and nurses and everyone else who serve their community you have an obligation to these students, you cannot put them through this. look what is going on with china. we need our competitive edge in this country, teaching kids to do quantum computing and ai, we need a cutting-edge competitive nation in a way that we probably haven't needed a long

time so where is the president, talk about leadership, standing up and saying here's what we face, we know we have a lot of issues with this covid thing that is still hanging around, thank god it isn't as bad as it was in the beginning but here is what we need to do to compete in the world. wears that message? stuart: where is indeed? we will be watching you at 3:00 pm eastern time and i guarantee you are going to leave with the chicago shutdown, milwaukee, and a couple other cities, i'm sure that will be at the top of your list. thanks for being with us. there have been more than 1400 flight cancellations so far, 1300 deal a's. mark tepper is with us. i to talk to you about your holiday travel. i understand you went through a nightmare. >> probably the worst travel experience, this beautiful 7 day ski trip, we spent 3 and a

half days stressed out, plates getting canceled, rescheduled for the next day, luggage getting lost, show up at your destination a few days after you get there. there is one thing to missing your luggage on the way home. on the way to your destination. i'm afraid to admit this, to buy clothes that walmart is not my normal thing. the issue is airlines have staffing issues. you got the vaccine mandates which cause a lot of staff to quit. and when you cancel 10,000 flights, bombarding the computer system, those crashed as well. stuart: all these delays and

cancellations, let me move to the market. one feature we are seeing a special yesterday and today, big tech under a great deal of pressure. are you buying this dip? >> when we look at big tech names, we are underweight all those names. i love them all but i think you can find value by looking elsewhere. we are about to enter the rising interest rate environment, all the high valuation companies should underperform. i don't know that i would say that about big tech, big tech is a risk off play anymore. investors are going there to seek safety but there are other opportunities out there right now like as an example looking at regional banks. the net interest margins of those regional banks benefit a lot more than the bank of america and jpmorgan.

stuart: we will have you for the rest of the hour. let me turn to lauren who is looking at big movers on the market. what have you got? adobe and salesforce? >> they are both down and pretty sharply over 4%, ubs cut them to neutral for this reason, business software growth is growing, tech spending from the corporate sector pulled forward to 2020 and 2021 so it slows down in 2022. at&t added 1.3 million new subscribers in the fourth quarter and when looking at hbo and hbo max, 74 million subscribers globally for all of last year and amazon teaming up on smart cards and vans but amazon software will power the dashboard. alexa can control navigation and repairs and things like that that start in 2024. stuart: how many stories every run today about technology companies getting into the car

business as providers of not education but entertainment like sony in an electric car. it is a theme as the electric vehicle market explodes and comes of age technology companies jump into provide their services. i find it fascinating. >> the future is autonomous as well as electric. what are you going to do when sitting in a car not driving it? stuart: you've got to be entertained. have a screen to show nice things. i believe it when i see it. thank you very much. back to this. there is a flyer stuck on the wind chills with new york license plates in florida. you woke folks coming to florida go home. we will follow up on that. drug overdoses in louisiana hit a record high in 2021, drugs are pouring over the open borders.

i talked to louisiana senator bill cassidy about that. that is just louisiana. consumer electronics show kicks off in vegas, thousands of guests and vendors will be there despite covid cases, kelly o'grady is at this and gives us a tour next. ♪♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

stuart: the giant consumer electronics show kicks off

today despite the third in covid. i know some of the big tech guys pull out but who is there? >> reporter: number of folks that pulled out, google, meda, palatine, amazon. that creates opportunities for the spotlight to be on small innovative companies that are the future of technical one for you. i want to bring in the ceo of video window. what are we looking at here? what is so special about this window? >> you are looking at the future of glare control being able to do that superfast and do that gradual. a lot of pixels, you can also show video content for glare control. it is the active layer that controls the transparency of your glass. here we have third-party content but we can also create our own content, we have

flowers, trees, glare control so that's technology, art and nature combined, for the experience in the terminal, and what we can save on the climate controls, and reduce the carbon footprint. >> reporter: commercial usage, one of the biggest use cases? >> reporter: a lot of glass, in an airport, into an active area, show information, the gameifcation, that's what we call the future. >> reporter: this is one of the

cool companies, pfizer, i might be watching you on my window from home. stuart: assuming i am on tv five years from now. you never know. you are all right, thanks, see you soon. check the big board, check big tech please come all down today like yesterday, down sharply in some instances. i just read your stuff, see you on tv and i know you are predicting what you, tidal wave of startups responding to big tech censorship. are you talking social media startups as they flee facebook and twitter? >> talking about a much wider trend. a number of companies looking to tackle twitter, some quite successfully but looking at broad movement in the private sector. even beyond tech, the 100

million consumer base of americans, disaffected from the places they shop, bank, use technology or invest, outside the orthodoxy where they can speak freely, shop and bank, and platforms with companies that affirm their own values, basic, that capitalism is a great system to lift people out of policy, the content of your character comes the color of your skin, basic american ideas the rest of corporate america has abandoned. the new businesses and new startups, embrace those and capture the hundred million in a new movement in the private sector. is coming in 2022. stuart: apart from new startups, what companies already out there and encapsulate the values you are talking about that i can get onto?

>> i would look at the landscape and form your own judgment but a company that i invested in, the outside investment round, doesn't censor content in the same way the google youtube conflict does today that is part of that for the first outside investor and investment round that went public or going public as was announced in the last 7 months but a new wave of such companies that are coming up. they wanted to take on the woke industrial complex suffer from equality issues, the products themselves were not necessarily up to par but the second wave we are about to see, investing in some of them, the quality bar is going to be elevated because you know they will come after you. and antibody response against people challenging the woke orthodoxy is my advice to those

entrepreneurs is up the game on product quality is your way of competing in with the right message. stuart: i'm sure you saw this coming indiana state legislature looking to ban crt units schools. will you give us an update on the anti-woke, anti-crt movement, where does it stands today? >> it is full speed and momentum. the direction i would like to see ago is a good piece of that law i would like to highlight which is bringing transparency to education, showing parents and everyone what is taught in schools. that the approach i favor, transparency, accountability, using school choice for people with schools, ultimately being taught poison and give bag education, that is what i favor, i am a little bit more cautious about banning any ideology, i think critical race theory is difficult to define,

what is taught in schools today violate existing civil rights laws already. let's show those tools rather than banning any ideology, used by the other side in return with the downward slope of censorship. that brings transparency to the table. it is the best disinfectant and put it on the front page of every school's website, you can definitely put a camera in the school of every classroom. stuart: thanks for joining us. back to this. these are flyers stuck on cars with new york license plates, if you're one of those woke people, leave florida, you will be happier elsewhere as will be. they are investigating this. don't think any laws were broken. come back in again.

>> i love it. i don't see any -- i see nothing wrong with it at all. i think floridians are basically saying if you're going to sit there and because of the way we live don't you dare talk out of both sides of your mouth and come hang out in our state where according to you we are not woke enough, don't be a hypocrite and we have seen a number of woke politicians spotted in florida including aoc mostly steeply but greg abbott said it last year of the year before, if you want to leave your woke state and moved to texas for a lifestyle change that is fine but don't you dare vote the way you have been voting and turn texas into the state you ran away from. stuart: i hear you, thanks very much. msnbc host joy reed is taking aim at conservatives. role tape.

>> the republicans have gone from pretending to be the party of personal responsibility to unmasking themselves as the party of selfish people cannot play well with others. stuart: selfish people who cannot play well with others. kennedy is here to respond to that. 242 cruise ships will set sail around the world this month. that is a global number. despite warnings from the cdc. the highest number of sailings since the start of the pandemic. ashley webster as our report from port canaveral, florida. ♪♪ for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential

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at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. stuart: i like that guy, like that voice. you are looking at st. louis, missouri, 26 degrees and sunny. dow industrials up 70 points, nasdaq down. we are looking at 118 point loss on the nasdaq. walmart and kroger on screen, they are boosting the price of

rapid covid tests. they have been selling tests at cost under agreement with the white house, but that expired. they are raising the price in line with rite aid and others. the cdc is warning people avoid cruise travel regardless of vaccination status. ashley webster at port canaveral in florida has this put a dent in cruise bookings? ashley: it has as you could imagine but we don't know by how much, the individual cruise lines are not saying what rate of cancellations they are seeing. we are led to believe they are relatively low but you mentioned earlier 242 cruise ships such to set sail this month alone around the world. that is changing daily. we just found out norwegian cruise lines actually canceled a cruise today that was supposed to leave today for the caribbean, a 9-day cruise and it was canceled with less than 24 hours notice.

a lot of disappointing cruises there but they say it is because of covid and they are playing it safe. gives an indication out things change day-to-day. you mention the cdc, the cruise line industry very unhappy with the cdc saying they are being unfairly singled out, they point to other industries. we spoke with the ceo of port canaveral captain john murray and i said will you get on a cruise ship? is it safe compared to other things? he said absolutely. listen to this. your poor more risk at a supermarket a cruise ship. >> that is not an exaggeration. everyone in that ship is vaccinated, crew and passengers and that population doesn't exist in the grocery store. ashley: somebody pointed out you can leave the grocery store but if you want to leave a cruise ship you have to jump overboard but i digress. sales for the second half of the are predicted and so far appear it is very strong,

getting bookings on top of rebookings from previously canceled cruises. bottom line despite the warnings and despite the fear mongering ticket sales are strong and people want to get on the cruise travel around the world. ashley: they are ignoring the so-called risk, doing it anyway, two years into this. they are ignoring it. see you later. thanks a lot. senator bill cassidy, republican from louisiana. you are a doctor, would you travel right now? what you get on a cruise ship? >> if they have everybody vaccinated, 24 hours, i am pcr negative for covid you would be safer on that trip. you may want to check people on the trip but there's enough science, enough stuff we can do

now that people start returning to their everyday life with a few modifications. stuart: that should be the priority. get back to everyday life as safely as possible but as quickly as possible so this economy doesn't tank. is there been a change in direction from the administration about where we are going with covid. >> i don't quite know. they are treating omicron as if it is the beginning of the pandemic maybe. the fact is omicron appears to be a milder disease, less hospitalization, less death, less icu admission, more transmissible but on the other hand sooner or later we start getting back to normal. alteration of daily life, we get back to normal. i was in new orleans for a couple days. it was a wonderful time, we need everybody getting back to their favorite place to go. or else we will take our economy. anyone were difficult subject, drug overdoses, record high last year, the cdc reports in louisiana overdose deaths were

up 56% during the pandemic. this seems connected, that is where it is coming in. you see the government doing anything about it, or letting it run? >> two things about that. if you listen to what the dea agents are saying it is related to the open border. as people pour across, drugs for across and the poor people over here, to sneak drugs over their number one. number 2, back to earlier conversation, the lockdown left people in the pression and looking for alternatives and one of those is opioids. you can't connect the need to return to life, cannot disconnect the need to return to life to addressing the social issues, protect the border, administrations not doing that, return to normal life, people go back to opioids. stuart: washington post headline came out first thing this morning.

lawmakers begin early talks about another round of coronavirus will be targeting businesses. do you need more stimulus, can get away with it if we can take money aria located. and was not used for its purpose for these businesses. louisiana has the highest percentage of restaurants per capita in the nation. a lot of them are hurting. let's acknowledge that are allocated, not new money, already allocated, we can handle both. stuart: always a pleasure, thanks for being with us today. happy new year. might call it a real life bitcoin investor just took his earnings and bought a british soccer team.

kennedy is here, she just recovered from a second case of covid. she is angry, she's blaming doctor fauci and the wuhan lab in china. ♪♪

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stuart: there was a clip from ted lasso. we showed it to you because bitcoin investor drew comparisons that tv character.

mccormick is known as the ted lasso of bitcoin, now the chairman of the bedford football club in england. he bought the team. mccormick hosted bitcoin enthusiasts, and get them in the premier league. mark tepper still with us. we might see more of this, guys a ton of money and crypto getting into completely different investments. i understand why they would do that. >> there has always been a lot of wealthy people who have taken an interest in sports teams for the prestige, not to make money. not sure what a tenth division soccer team cost by any means. he by his hometown soccer team, he has goals of turning the team into a powerhouse and sounds like he will rely on his bitcoin buddies so he can go out and get the best players in the roster but the problem is they are in the tenth division

meaning they need nine promotions and not everyone is a soccer fan. for those people sitting at home who might be baseball fans, kind of a single a baseball team to convince guys like mike trout, trying to compete in the big leagues, easier said than done. nothing wrong with having a big audacious goal. stuart: that is a new one. not sure where you got that. maybe you invented it yourself. you are all right. hold on a second. confusion over covid. telling you about the chronic shortage of test kits. i will bring in my colleague from new york, kennedy, who is with me now. you had covid twice despite being fully vaccinated. this is part of the great covid mess. to the blame for it?

>> the communist chinese government, hands down i don't think this administration or the last one has done enough to press china on where this virus came from so we make sure this never happens again. a lot of people giving me a hard time on social media because i was vaccinated. why would you get vaccinated? i got so sick the first time i had covid that i never wanted to get it again. i had a series of conversations with my doctor and that was the best thing, to get the vaccine and i assumed that would work until i got a breakthrough infection as a vaccinated person from another vaccinated person so i get really upset at president biden when he gives an address and says this is a pandemic of the unvaccinated. that is not true. stop telling me i am lucky i didn't die. we were sold a lot more than you won't be going to the morgue when we took the vaccine. stuart: were you surprised when you got it a second time after

being vaccinated? >> i was surprised. i was upset. i got sick again. it wasn't like having a mild cold. it wasn't any of that stuff. my worry is the long-term effects that some people who suffer from covid. we don't even know what they are, neurological, are we going to have problems with lung function? are there neurological issues that will rear their ugly head later on? we don't know and that is because the virus is weird. we are not being told enough about it. the vice president said she and the rest of the people of the administration were surprised at the omicron varian. i don't buy that for a second especially people like anthony fauci who not only have been researching viruses like this for decades but also have been involved in the mrna vaccine development. why do you have to get boosted

every ten weeks for something? stuart: i want to make sure you are well fit and feel good. >> i'm cleared to come back to work. i developed a sinus infection, bronchitis, because of this, but i feel great. my daughters are on the mend and my thoughts and prayers are out there for everyone who had it because so many people have been affected by this virus. stuart: millions obviously. i want you to listen to how msnbc host joy read describes conservatives. >> so-called christian conservatives who file this country was built by them for them and so everyone but them needs to suck it up and let them have their way forever. and their party, the republicans have gone for pretending to be the party of personal responsibility to unmasking themselves of the party of selfish people who cannot play well with others. they even have their own cable networks.

stuart: have at it. >> no way someone like this, any rational person who is spewing what are clearly the symptoms of the mental illness, that she could be on tv unless it were an ultra progressive hyper politicized network so all the things that she said are actually criticism that can be pointed back at her. she's incredibly divisive person, she doesn't want to heal this country. a mature dialogue, she wants to point fingers and what she wants to divide people and racial lines. stuart: division is obvious right there. we will be watching you tonight 7:00 eastern right here on foxbusiness. thank you for being with us, appreciate it. a record 4 million people quit

their jobs in november. is that actually good news? maybe people are trying to climb the food chain looking for better wages? i talk about this with dirty jobs guide mike rowe after this. ♪♪ ♪ feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

stuart: a record 4.5 million people either quit or changed jobs in november. mike rowe is the dirty jobs guy. bear with me. i think this might be good news. people equating to climb the food chain looking for better wages. where am i going wrong? >> you have always been a glass half full kind of guy. i suppose that is one way to look at it and it is a fair way to look at it. from my position as the guy who runs a foundation focused on debunking stigmas and stereotypes around skilled trades i've never seen anything like this. not a week goes by where my foundation doesn't get a phone call from some association in charge of some industry that is

struggling mightily to recruit. just this month i heard from the energy industry, the flooring industry, you just go down the list one after the next, the restaurant industry, the cable and broadband industry, they are all struggling with the same basic problem and that is how to make a more persuasive case for the opportunities that exist in their industries and they're all talking to the same group of people who for whatever reason have i think changed their fundamental relationship with the definition of a good job. this is not just a conversation between a mismatch of skills although i think the skills gap is a very real thing. this is a conversation about our workforce and the imbalanced nature of it and the way that is going to impact every single american who shares my addiction to smooth roads, indoor plumbing, portable electric things. stuart: what is the new definition of a good job?

>> that, interestingly, is one of the few things we can control. it is within our individual control to make that very decision. guidance counselors have to decide, teachers have to decide, parents have to decide. the thing we identify as aspirational will set the stage for virtually everything that follows but that was the deck of dirty jobs, to show the country very specific vocations look like and surprise people with the realities of what you can make on a jelly ball fishing boat for instance or putting down and epoxy floor for instance and it is a chance for me to remind people that for every 5 tradespeople that are retiring right now, two are replacing them. this is a terrible bit of

arithmetic that we have to grapple with. it is just bad math and it is happening right in front of us. ashley: we have to change the status we applied to blue collar jobs. a blue-collar job regarded as a good job and hearts in it. it is a vocation. people work with their hands. >> we can't do that unless we do the same thing with the definition of a good education. it can't be higher education and everything else is vocational cancellation prize. we need to explain to kids that working with your hands, and still lead to prosperity. my foundation does this every single year, we give away 1 million bucks to kids who learn a skill that is in demand and

tell their stories. we need to do a better job globally shining a light on those stories in your program has done a terrific job of that so you have my thanks in the coming new year and my solemn pledge to come back whenever you invite me. stuart: the best voice in television, the best singing voice in television, i know that for a fact, we watch you every monday night 8:00 pm eastern, how america works only on foxbusiness. mister rowe, thanks for being here, appreciate it. the trivia question for this wednesday, here it is. who holds the record for most best director oscar wins? see if mark tepper knows the answer without googling it for after this.

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stuart: we asked this question right before the break. who holds the record for most, best director oscar wins? mark tepper, you're allowed to guess. you have got four choices here. spielberg, sore score ses sy eastwood, ford. >> i will have to go to score ses sy. not familiar with ford. spielberg reminds me of back to the future. i will go with scorsese. stuart: i was thinking about david lean not on the list. alfred hitchcock not on the list. i thought it might be spielberg. what is the answer?

john ford. won in four times, 1935, 1940, 19 41, 1952. known as the i think he directed the african queen. i think he did. mr. tepper, thank you very much. neil it is yours. neil: thank you, neil. i want to thank my colleagues, david asman, jackie deangelis, ashley webster for filling in my absence. job security required me coming in. look at corner of wall and broad, the dow jones industrials, we have record number of covid cases, better than a mill in the daily count here. obviously this is something that is very, very contagious. this is playing out across the globe. it does not require at