>> as somebody who owns a dog, and two fish, i feel sorry for fish, you can't watch tv, basically the same thing over and over again. i love this thing. i love their show. they did great job today and it was a pleasure being on with mark. if i go to the gym i will start doing it. thanks, it was fun. cheryl: i love you both and i love stuart varney and he is up right now. stuart: good morning, everyone. anyone with money in the market almost certainly has money and technology stocks. the news this morning is the tech route continues. the big names are down again in premarket action today. these are the most widely held of all stocks. the 401(k) damage is going to be widespread. here's the reason. another move up for the all

important 10 year treasury yield, one.72%, it was one.74 earlier. it was 166. doesn't sound like a big move, doesn't sound like a big deal but it is in the bond market. the federal reserve will raise rates in the negative for the market. down 500 points, better than 3%, down again this morning and those interest rate hikes, it is down so much. modest gains for the nasdaq and s&p. bitcoin is all the way back to 43,$000. there is a big shift in progress. money out of tech, out of cryptos, many into treasuries. next case, chicago schools

closed again today. the teachers union is doing that. some of the school district are closing because so many teachers, school bus drivers and administrative staff are out sick. same story for retailers, restaurants and healthcare. operations restricted because so many workers tested positive and are out on quarantine. this will slow the economy. this will put a smile on your face. florida governor desantis doing something about the testing crisis. he has secured 300,000 home tests and will send them to those considered vulnerable. he is showing up president biden who promised 500 million home tests that is yet to sign the contract. thursday january 6th, we will have something to say about that in a moment. "varney and company" is about to begin. ♪♪

stuart: today is the 1-year anniversary of chaos on capitol hill. the wall street journal says it was a riot and a national disgrace. in a speech this morning president biden will blame donald trump. my opinion the democrats will exploit it for what they hope is political advantage of this november. my colleague, will kane joins me with you heard from the journal, from the president, from me. what say you? >> i think you and the journal have nailed it. i do not think what we watch the year ago today was a concerted attempt to overthrow the government. it was not an insurrection. but words have become power and for many, distort the word, distort the power. think about the concept of violence. speech is violence. think about the word racism.

everything under the sun right now is racist. an insurrection is another tool where you distort the words, demonize your political opponents, demonized donald trump and more importantly demonize trump voters. here's what it was and i think you put the right word on it. it was chaos. it was a riot. it was an embarrassment. it was shameful. i think a great american who had concerns about a very admirable election, in the we had massive mail in balloting, clearly stories suppressed, false stories elevated showed up because they had concerns about that election. there was bad actors in the crowd, there were instigators. they were led into what amounted to a national embarrassment, a riot. stuart: it is a riot, it was a riot, not an insurrection and it is being used for political purposes. that dealt with that. i've got to deal with the markets and a few other things. the fed looking at rate hikes sooner than expected. big news in the financial world. break it down for us.

lauren: all fed members see one rate hike this year and the first one likely in march. omicron was not raging when the fed last met and will likely when they meet again which is january 20 sixth and 20 seventh. do they back off the timeline? i don't know the answer but investors say they do not and it is one of the reasons yields are above one.7% today. they are close to the high of last year which was one.77%. stuart: there is a clear feeling rates are going up. i want to bring into check the futures look at the nasdaq down 60 points, bill route, the money story is the money coming out of technology and out of cryptos. is this all about rising interest rates? >> rising interest rates will pressure the high multiples,

what brought to our clients last year looking at the 10 year rate, one 75, high overnight, 18, looking at last year. we get to one.2%, that can cause a very quick move to one.5 and over shoots one.7. similarly when you get above one.8 it is an extremely quick move to two. 20 basis points in the first couple trading days of this year and shifts to one.25. it is our narrative that moves in the bond market through quarter 4 and the start of 12:45 are not 2 or 3 day events. they are bigger and wider shifts. i expect this move to continue. we see last year too. stuart: what happens if we get to say one.78%, one.72, what happens to big tech?

>> one.8 is not much more than we are now. it is getting above one.8 as we see it in upon itself. using the nasdaq, 3% on the right now, i would say another 3.5%. stuart: thanks for joining us. the new manhattan district attorney is defending his decision not to prosecute certain crimes. watch this. >> the policies give criminals a greenlight? >> know. it depends on your definition of criminal. i suggest anyone going on right now, we lay out a path for reduced incarceration. for getting new york city back on its feet. stuart: soft on crime gets us back on our feet.

do you see that kind of thing getting new york back on its feet? >> the insurrection, the power of words, the district attorney, they reduced incarceration. if we don't call them criminals they are no longer criminals. event the substance of the issue, what is happening in our lives, what really matters and what the reality is on the ground. if you do anything to reduce the potential for violence for someone living in new york city, anyone, i have a law degree, anyone with common sense can understand the answer. you increase the potential for violence to affect our daily lives and quality-of-life is the number one voting motivation so good luck in your 10 year. stuart: who comes back to a city like this with

out-of-control. we really appreciate it. manhattan da, mister house and brag, which leading democrats supported his election? >> the us attorney for the southern district, jerry nadler, he called bragg a progressive leader and is pushing to make the office, progressive leader it should be. this is the problem, new york city mayor eric adams praised bragg for his vision of reimagining the, justice system, that is where the rub is. he can return law and order for crime-ridden city, he can't do that with bragg in his position. how much did he pressure bragg and how much does bragg cave,

am i being too optimistic? maybe something could happen. maybe he could be speaking of common sense, pragmatic progressives. i don't know but something has got to give. stuart: off to a bad start. let's switch away from politics in new york city and get to bitcoin. 42,950. that's taken a dip in the last couple days. any explanation? lauren: i will give you two. thes are considered risky in growth asset so they become less attractive in a higher rate environment so as the tech sector gets creamed, so does bitcoin but bitcoin's future worth $800 million were liquidated and it happened when bitcoin broke the 36,000 support level. the exchange close the leverage positions as a safety measure. that is another reason you see bitcoin come down. stuart: we have a bitcoin

specialist on a couple days time. $60 on bitcoin the peak as it comes and goes. i will ask and see what he is going to say. check stock futures, 20 minutes before we open, the story today is a selloff in technology, nasdaq down another 71 points. jen psaki took a page out of speaker pelosi's playbook, in order to sell build back better they have to pass it first. role tape. >> people like the components of the bill but don't know exactly what is in build back better and what it means. it is easier to sell a package to the public. stuart: just like nancy pelosi. it goes backwards. than the governor of arkansas says the president's claim that there is no federal solution to the pandemic is, quote, ironic, role tape.

>> a little bit ironic. when you see the federal mandates on vaccinations, they have in this administration utilize federal power rather extensively. stuart: with a record case by can arkansas, what is governor hutchinson absolution? more restrictions? i will ask him. he is on the show next. ♪♪ ♪♪ your shipping manager left to “find themself.” leaving you lost. 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

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stuart: who is that? slim? i get things wrong.

that there is oakland, arkansas, snowy, arkansas just hit a record for new daily covid cases, nearly 7500 reported yesterday. asa hutchinson is the governor the governor joins us now. you have a record spike. are you going to put in any new restrictions of any kind? >> we are doing some things that are new, we are not putting in new restrictions was our focus is on vaccinations. you mentioned we had a record number of omicron cases that preceded another day of record and that preceded the previous day. and at home tests, secondly, mobilize some of our national

guard to help the pcr testing and testing sites at the hospital making sure they have the support and why we have record numbers of omicron cases. hospitalizations are one half of what they were a year ago. they are very stressed because shortages of staff, we are looking at ways that we can help them. we got to get through january. we need to not put in new restrictions but we are making sure we provide solutions. stuart: do you believe this is moving so swiftly, case loads rising so rapidly that it is sweeping through and we should ride it out because pretty soon we will be on the other side of it? is that where you are coming from? >> that is what the scientific evidence is that it is going to very quickly and that is my hope and that doesn't mean we just simply, and you don't know

exactly what it means in terms of volume of hospitalizations, still learning a lot about this so there are steps we have to take but my hope is this peaks mid-january, we start on the downhill slide after that but europe is getting hit harder than we are. if we get hit as hard as europe with the omicron we have some tough days ahead. stuart: the president says the solution to covid is at the state level. are you getting any help from the feds? >> what the federal government does well generally is to utilize defense production act. get the supply chain going and then they partner with states to get it out and for example the 500 million at home tests the president announced he wants to purchase he has to make those available on the website. my goodness, get them produced, send them to the states for distribution.

we have a distribution network, we can get those out and that is just one small tool because they are not as accurate as the pcr testing but we want to partner with the federal government, but don't take away state flexibility and state solutions. stuart: did you see that is the governor desantis has secured 300,000 test kits and he will put them in the hands of those people who are vulnerable, elderly people, taking a jump on the president here. >> they are being purchased and hopefully have 300,000 or more in hand tomorrow. that is an example of leadership by the state. i don't think it's a competition with the federal government. it is partnership with the federal government. i'm delighted with of the governors are doing but we need to have partnership with the administration to maximize our resources. stuart: thank you for joining

us this morning, appreciate it. back to the market, before we open for trading thursday morning, the nasdaq is going to be down again 50 odd points after being down 500 yesterday. big tech on the downside this morning. i see red everywhere, look at them go down except for meta-platforms which is up $0.20. jen psaki taking a page from speaker pelosi's playbook defending build back better. take us through this thing. neil: first you will hear jen psaki and then nancy pelosi in 2010 as congress was considering obamacare. >> what we see in a lot of polling is people like the components of the bill but don't know exactly what is in build back better and what it means. it is always easier to sell a package to the public once it

is passed. we hope we get to that point. that is our objective. >> we have to pass the bill so you can find out what is in it. away from the fog of the controversy. >> stuart, stuart, stuart, they are purposefully being deceptive. as far as build back better this isn't about what is good for the american public, what is good for the people. it is about getting an agenda item past and that is about it. remember when jen psaki said the cbo score is fake? stuart: a socialist agenda basically. house republicans calling out president biden over the distribution of covid relief funds. lauren: $6 trillion distributed and talk of more money is the biden administration is asking for more. we have ranking republican congressman saying additional requests, quoting from the letter they sent to the administration, these requests look like a smokescreen to

combat the pandemic when they are being used to and -- advance their own agenda and one clear example, $850 million that could have been used on covid testing was supposed to be for covid testing but was diverted to the border to help illegal immigrants trying to cross. bike trails, golf courses, weight rooms in high school gymnasiums, courtesy of your pandemic dollars. stuart: you are right, that is deceit in many ways. check futures again. 7 minutes to go before we open the market. the nasdaq has closed its loss a little bit, down 40 points. take a look at futures again after this commercial break. ♪♪

stuart: look at the cryptos this morning, bitcoin down to 40,$000 a coin. the bitcoin guy of the morning, bitcoin hit 60,000, 64,000 or something, now it is at 427.

a lot of people are saying bitcoin has peaked at 64 grand. what say you? >> don't think it has peaked at 64 grand. what we are seeing is a disconnect between prices and fundamentals the crypto is a risk on asset. the market is currently in a risk off paradigm. it is not surprising it is getting hit. when you look under the surface, the fundamentals of crypto, they are stronger than they have ever been. developers building and cryptos at an all-time high, crypto users, up 2000% year over year. the short-term outlook is a little shaky but we far from peaked at 60,000, the long-term outlook is positive. stuart: i know a lot of big hedge funds are leading the selling of big tech stocks was on the big hedge funds also selling out of bitcoin? >> the word on the street when we talk to trading partners is

we are seeing some institutional outflows from crypto over the last day or two. there is been robbed broad risk of movement for institutions, professionals can't down the risk assets the last couple days. when you peel back and look over six months over 12 months where you forecast ahead the long-term outlook is extremely good. stuart: i keep seeing headlines of people saying it will go to 100,$000. to me that is just looking for a headline, looking to pump something up which you hold. i dismiss it entirely. how about you? >> it is a randomly selected number. there is not a fundamental thing that gets 100,000. people who are making that up are saying despite the fed minutes we saw yesterday we don't actually believe the rest of the fed will have the courage to clampdown on inflation, put the us economy

into recession. it has been extremely dovish and there is a risk that it will continue to be dovish and in that world it makes sense to have a hedge against future inflation but could be 60,000, could be 150,000, that is a random number, they are saying that. stuart: it could be 25,000. we appreciate it. 9:30 eastern time, thursday morning and we are up and running and heading up ever so slightly. the dow 30 evenly split down 12 points in the first few seconds. the s&p 500 the same story, virtually flat but down 0.16%, the nasdaq composite down sharply again. 0.4%. look at big tech, all of them

down except meta-platforms. take us through this one. >> rough week for big technology companies which were a major winner in 2021 and the year before. i am looking at these names and looking at salesforce and microsoft which draw members of the dow, and selling is widespread, not just impacting the nasdaq. the worst day since february. stuart: this is how far big tech stocks have come from their highs. amazon 3270 at the moment, the high was 3773. how about apple? the high was 182-94. it is back to 173. google the high was 3037, it is now 2753.

that is a substantial selloff. let me look at this one. bed, bath, and beyond, it was down, what is going on here? >> it is down 10% moments ago. the supply chain completely disrupted the company's quarter because they have seasonal items that arrive late and didn't sell, reported net loss, same store sales, too much discounting, too light traffic and investors seeing something in a report they like. stuart: maybe there was a call to the analysts where they said something positive for the future but that was quite a turnaround, down 10%, now it is up 14% when the thing opens. conagra. what we have on that? lauren: strong demand for their

products, cooking spray helping to blunt the inflationary pressure they are feeling, stock is down but going forward we see sales growth of 3%, the previous forecast was one%. i want to show you constellation brand. stuart: one of the biggest liquor companies in the world, are we drinking a lot or are we going to drink a lot? >> stronger earnings raise their full-year profit expectations. it wasn't the best report card i have seen but i want to check out a deal they struck with coca-cola, based off of that. i thought the stuff would be of even more but it is half of one%. stuart: coke is as into alcohol via constellation brands. it has been down consistently, this is for the fifth straight session. what is the problem? lauren: they have hot content and subscriber numbers are

called unimpressive and jpmorgan came out and cut their price target not by much but went to 725-750. stuart: now they say will be 725, they -- never quite understood that. target and dollar general both retailers, both of them down there in -- downgrade. lauren: wells fargo cut both of them equal weight. the price target is 230, higher than it is now and for dollar general us than 220. the issue is growth slowing marking the end of what jpmorgan called a renaissance for two retailers that are performed during covid. that a lot of the stock that we are seeing, he did well in 2020 from 2021. it was returned to normal.

stuart: this is 30 are points, nasdaq down again fairly sharply. i will show you the dow winners, the best performers of all the dow 30, travelers is there but so is jpmorgan again. financials have been doing well. financial companies helping you to not lose points so much. travelers is on there as well, salesforce also there. s&p 500 winners, not sure i know these, western holdings, don't know what all. marathon, apache, energy companies have been doing very well. nasdaq winners, chipmakers, micron, fox corporation, meta-platforms moving up slightly. it is up. down 50 points, look at that level, 36,000. the yield on the 10 year

treasury, one.72%, it was 175 early this morning, gold well below $1,800 an ounce. bitcoin just at 43,000. oil, i figure it is moving up. back to $79 a barrel. natural gas $3.86. the price of gasoline starting to move back up again, up just one sent overnight but still up, $3.30 is the national average for regular, california still paying $4.66. coming up, chicago public schools, new york city's teachers union also pushing to move to remote learning. will president biden ever take on the teachers union? he says got to keep the schools open. the administration is yet to reese -- release ice's and your

put on deportations. it was supposed to be our last month. what is the hold up? what are they covering up? china ca tech selloff. mark grant said don't invest in anything in china. he is next. ♪♪ riders, the lone wolves of the great highway. all they need is a bike and a full tank of gas. their only friend? the open road. i have friends. [ chuckles ] well, he may have friends, but he rides alone. that's jeremy, right there! we're literally riding together. he gets touchy when you talk about his lack of friends. can you help me out here? no matter why you ride, progressive has you covered

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plan from a company like humana just might be the answer. stuart: 11 minutes into the session and i see some green. the nasdaq composite has completely turned around and is up 60 points. charlie monger is warren buffett's right-hand man. he placed a big bet on ali baba, the chinese comedy. how much are we talking about and why did he do it? he doesn't like technology. lauren: he is 98 years old, doubled his bet to $78 million

through berkshire hathaway, newspaper publisher, daily journal, ali baba's stock was cut in half on this beijing crackdown which is so strange that charlie monger has praised china for how it handles criticism from jack ma for instance. to interfere in recognizable right before it burst. he is awfully praised china and now you see them doubling his bet on one of their main companies they cracked down on. stuart: puzzling to say the least. mark grant studied this aggressively. back in july, get out of all investments, stocks, bonds, come out of a lot. what are you saying now? >> i'm saying the same thing and i will explain why. nobody should invest in things

they don't understand and nobody, to verify the numbers. china has no real rule of law or due process. i give you two key examples, with another company, it is nowhere to be found, financials, if somebody did that in the united states they would be going to jail for that. number 2, based upon national security concerns, not allowing for audit or verification, with major chinese companies. absolutely no idea if the numbers are real, not real, i say don't invest because you don't understand and don't know what it is. stuart: what about ever grand? do you have an update on a profit market in china. i understand this one developer, another one, just went belly up, what is the situation?

>> ever grand has gotten worse and worse. one of their particular bonds was around 67, it is 13.5 this morning. if we look at comparison of the overall market like the equity markets, all of our equity markets were in the double digits and the chinese hang seng index was down 16% for the last year. i think china is an investable, governments can make up the numbers, to know what real numbers were. stuart: were you surprised charlie monger who doesn't

usually like technology -- >> i was very surprised, had great respect for charlie monger. don't understand why he did this. certainly doesn't make any sense to me, not something i would recommend to charlie or anybody else. stuart: we hear you, don't touch any chinese investment. we will see you again today soon. >> great to see you. stuart: left-hand side of the screen, oil just hit $80 a barrel. that's not going to go down well in part of the stock market. $80 a barrel, you could be seeing the price of gasoline go up some more in the near future. the north koreans claim they tested a hypersonic missile. was it really hypersonic? lauren: north korea so the was, traveled 435 miles.

that was it was the second hypersonic missile they recently test fired. what does that mean? it flies so fast that it is nearly impossible to detect on radar, hard for the us and south korea, japan, even to detect this. it is bad for the region for many reasons. the winter of the pics next month and presidential elections in south korea in march. what it is with their testing. stuart: it was hypersonic. stuart: anybody saying it wasn't? lauren: i am not going to answer that definitively. i have read a lot of different things. everyone trying to understand what was launched. stuart: coming up on the show

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stuart: a year into his presidency, worker shortages and raging inflation. could a republican win in scranton? >> the names on the street behind me, biden street, but republicans are feeling that in pennsylvania. they may take blame for the

price hikes, go to garrity's supermarket and talk to the owner. >> seafood has been out of control. we retail them to $17.99. when is the inflation going to end? it is another question of when the labor shortage happen? until that ends you will see prices increase. >> reporter: he says there is a shortage in each link in the supply chain. you can only do that so much. >> we are making 10% less on media apartment sales because we take increases and had to pass along a fair amount but margins are lower because there's tremendous competition. we have a lot of competitors in the area. we have to stay sharp.

>> reporter: looking to take advantage of this a former continent a dozen republicans running for governor. the senate race is just as crowded. both parties have candidates vacated by pat toomey's retirement. that is a big one, the senate race, we came from arizona. the race there in the race here, one of those races could decide to control the senate. one issue that could tip the scale and the inflation. stuart: that is the subject, the issue all over the place. some new numbers in, the markets are down 43. interesting new numbers on the number of new cases, from wednesday, 643,660 new cases reported yesterday. on monday it was 1 million new

cases. on tuesday it was 860,000. yesterday, wednesday, 643,000. is that a downtrend? does that mean we have peaked at 1 million cases on monday and we are coming down on the other side? if that is the case it means we could be opening up and relaxing a little bit much sooner than expected. i don't know but that is a downtrend. let's look at big tech and see how it is doing. pretty much down across the board and set for alphabet and meta-platforms, a big decline yesterday, more of a decline today. the financials of been doing very well recently because interest rates have been rising, banks do well when rates go up. citigroup, bank of america, jpmorgan, morgan stanley up today, goldman down a little bit. the price of oil hit $80 a barrel just a few minutes ago

and backed off 79, 77. i have to believe that will mean higher gas prices fairly soon. you want to take us through this? 172. >> the yield keeps rising and that is why we see a shift into value stocks, they do better on a higher rate, continues to sell off. 16,644, struggling to that level and continues to sell. we have a rising rate environment. what is so shocking is how did they tell us what they didn't know already. they combat inflation but the surprise is most members said it is going to happen starting in march. stuart: not a big surprise.

thanks very much. dow is down 100, down 31. mercedes schlapp, florida, son byron donald, nigel farage and mayor of miami francis suarez. that is next. ♪♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya.

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♪ i'll be taking care of business every day. ♪ taking care of business -- stuart: all right, everyone, good morning. it is 10:00 eastern. a quick look at your money, heading south pretty much across the board, by the way. the dow just taking another leg down. it's off 140 point now. the nasdaq the's off close to 60. the 10-year treasury yield, at one point this morning it was 1.75%, now at 1.72. still elevated yield. big tech earlier in this morning was selling off, a little bit of a comeback for meta platforms and google, but microsoft, apple and amazon going down some more. here's another big selloff in bitcoin.

it's back to $42,786 per coin. just in, the latest read on mortgage rates. all right, lauren, what's the number? lauren: yeah. it's 3.22%. so that is sharply higher, stuart. in fact, it's the highest since may of 2020. freddie mac says, yep, rates are likely going to continue to rise. stuart: did we just get an indicator on the service sector? i believe we did. what did it say? lauren: this is a big number because it affects all the service sector workers. it fell dramatically in questions to a level of 62 from 69. so that was a steep dropoff. stuart: okay. that's the service sector of the economy, a major part of the economy not doing well, coming down. and maybe that has something to do with the market selloff that we're just getting started as those numbers came down. lauren: seems to be steepening. stuart: all right, everyone, now

this. yes, january the 6th, this is the day the democrats bring back trump hatred. they've made a mess about just of everything else, so why not go back to the old standby? they are hoping to turn around their political or fortunes by claiming to save democracy. their allies in the media are piling on. of course they are, they miss their old nemesis. it was a riot. it was ugly, embarrassing and, frankly, disgraceful. it's still shocking to see those rioters swarming through the capitol building, lounge aring around in the speaker's chair. and you're going to be seeing it over and over again throughout this election year. of speaker pelosi's select committee may hold prime time, televised hearings in this summer. the whisper per is they may try to indict mr. trump for obstruction of congress. mark elliot tweeted this: my prediction for 2022, before the midterm election we will have of a serious discussion about whether individual republican

house members could be disqualified from serving in congress. we may even see litigation. of course we will. this is all about november's elections. the tricep -- democrats have racked up high disapproval ratings on inflation to covid, from schools to the border, so they hope to keep power by beating up trump throughout the spring and summer. i don't think it's going to work. after all, biden's failures stem from his reversal of trump policies. you want to put him in the spotlight again? that could backfire. and, besides, outside the media and the fever swamps of the democrat party, is anyone really talking about this? not exactly kitchen table stuff, is it? second hour of "varney" just getting started. ♪ ♪ stuart: just a moments ago president biden called out former president trump for his

role on january the 6th. watch this. >> for the first time in our history, a president that not just lost an election, he tried to prevent the peaceful transfer of power as a violent mob breached the capitol. but they failed. they failed. and on this day of remembrance, let's make sure that such an attack never, never happens again. stuart: mercedes schlapp joins me right now. mercedes, my opinion -- you may have heard it -- i think the democrats are trying to exploit this for purely political purposes, less erecting trump so they can beat -- resurrecting trump so they can beat him up. what say you? >> right. that's the only thing the democrats can run on. the failure of their economic policies that have led to the inflation and these horrible issues that we're seeing impacting everyday americans, we're also seeing the failure to

pass build back better. and for them, the democrat motto is spend, spend, spend. and, quite frankly, the only thing they can hold on to right now is blaming donald trump for january 6th. finish -- their goal is to indict this president. their goal is to go after congressional republicans. they are using the january 6th committee as a witch hunt, something going after just even like the lowest level of staffers, you know, issuing subpoenas, getting their phone records. it is such an overreach of power from congress and, quite frankly, for the democrats i think that if they're going to run on january 6th and that's their election plan is trying to use this to change our voting system, that is an assault on democracy. stuart: and i don't think it'll work. i just don't think that this story has legs all the way through to november of this year. and i don't think people are talking about it. i mean, in your sickle --

circle, maybe i should get out more, but i don't know know anybody that's come up to me and said, hey, what about that january 6th riot. i don't hear that. >> in the swamp area and, obviously, you know, the liberal media, it's going to be wall to wall coverage on what happened on january 6th. and, like you said, it was a dark day in america. are there was no need for this in any sort of way. you cannot agree, you know, have your opinion on this, but there was no reason for this insurrection to have ever occurred. but that in and of itself is not going to hold muster for democrats to run on this issue. they're using it as we've seen with chuck schumer to change the rules in the senate to get rid of the filibuster, to push forward with this what they call the freedom to vote act which what they're doing is they're lessening vote electioning integrity. they're going to ruin voter integrity. we want legal votes, not illegal vote ises. and that is, i think, one of the

biggest channels we're seeing -- challenges we're seeing. stuart: mercedes, thank you for joining us. >> thank you so much. stuart: sure thing. back to the markets. at lot of red ink this morning. dow's down nearly 200 points and the nasdaq's up 157 -- off 157. mark avalon joins us, market watcher in our 10:00ing hour. that's a big drop that we're seeing right now. is it all about rising interest rates? >> well, it's all about the federal reserve, and it's been that way since 2009. and now jerome powell, jerome powerful, he's calling the shots. he's the most powerful person in the market. and those meeting notes, i don't know if they were planned a little bit to come out to give a warning shot to investors, but those notes that came out yesterday are sending tremors. and it's really rocking the growth side, the speculative names and removing some of the froth. finish i think it'll calm down a

little bit as we digest maybe perhaps a measured fed if move, but yesterday was a bit shocking in the tone that came out. stuart: the danger is for most investors that this becomes just a dead flat to slightly lower market for a long time to come just like it was in the 1970s. is that remotely possible? >> it's an excellent point, stuart, and people forget because the last bear markets that we've had were very short. you know, this spring when covid hit. even 2008, as deep can as it was, bernanke came to the rescue rather quickly. investors, especially those nearing retirement who were in their 50s, are not familiar with a lost decade, you know, up 3, down 5. up maybe 10 but then down 20 at the end of the decade like we had in the 2000s. it was -9.1 on the s&p. people have forgotten that

stocks don't always go up. we had a very slow period from 1966-1981. the dow was flat, point to point for those 15 years excluding dividends. so we have had long periods of the market that has been have been underwhelming and hurting savers and retirees. one last point is after a huge runup like we had, it wouldn't be unlikely to have a year, two, three of a relatively flat return, so it's an excellent point you raise. stuart: okay. watch out. mark avenue hone -- avalone, good stuff. thank you. >> god to be here. -- good to be here. stuart: come on back here, lauren. is live january moving? lauren: yeah, it lowest since its november debut. that number was 78, now it's under that at 77.57. yesterday we had tuesday of that amazon deal to use alexa and amazon technology in the cockpit, if you will, the

dashboard of vans, and that's not good for live january. it's -- rivi ian. it's continuing to fall. take a look at bed bath and beyond. it looked like it was going to crater at the open, but exactly the opposite. they said the supply chain problems cost them $100 million in the quarter. does it get much worse than that? i'm not sure. maybe investors think the worst is behind them here. and i have another lose loser for you. humana, they're mandating a booster is the shot starting january 17th for some of their front-pacing workers. -- front-facing workers. stuart: whoa. that's a big drop for that kind of company. general motors, they've got their self-driving cadillac concept car. m if i've not seen it, but when's it going to hit? lauren: i think we have pictures of it. it's really cool. it looks like a luxury -- kind of like a bullet. and when you see the doors open,

there's a love seat, and it's for two people so it splits into two. it's surround by screens. it's a concept car. and you ask me when is this going to hit the market, and i'm going to say the middle of the decade. that's what mary barra said. i think that's pretty aggressive, right? if an autonomous electric vehicle that looks like that? stuart: that is a different looking vehicle, is it not? of course it's electric, but, yeah. the pictures don't really show it very well. they could have done a better job. lauren: no steering whale, no pedals -- steering wheel. now you sit in a car that has the ability to be autonomous, it has a steering wheel and pedals, but imagine getting into a vehicle that has neither? stuart: so that cadillac has no steering wheel or pedals? lauren: correct. stuart: okay. middle of the decade, can't wait. thanks very much, lauren. next month's super bowl supposed to be played in restriction-rich california, but now the nfl could move the bug

game out of l.a. where it could be headed. florida's governor desantis says the president's not doing enough to promote covid therapeutics, and it is costing lives. watch this. >> the failure from the outset to already focus on therapeutics, i think, has cost a huge number of lives. people are still getting infected regardless of their vaccination status, so you need to have an emphasis on therapeutics. stuart: florida congressman byron donalds will join us shortly on that subject. another year of covid, another round of relief checks. some lawmakers want to give out more pandemic relief. at what cost? we've got a report on it next. ♪ ♪ money, money, money -- in a rich man's world ♪♪

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♪ ♪ stuart: yep with, sounds like the rolling sewns to me and, yes, it is -- rolling stones. "can you hear me." myrtle beach, sunny and 51 degrees. not much sunshine on wall street this morning. check those markets and you'll see plenty of red ink. the dow's down 150, the nasdaq down 88. let me remind you, the nasdaq was down over 500 points yesterday. the u.s. postal service wants a temporary waiver from biden's vaccine mandate. lauren, i guess they're worried about losing employees if they go through with the mandate. lauren: they warned of a dramatic loss of staff during peak season for the usps.

they wrote a letter to osha, asked it to delay the mandate and testing option 120 days and to wait for the court's final ruling on whether it's legal. tomorrow this time the supreme court hears oral arguments on that, and the mandates as of now are to go into effect on monday. stuart: i bet it doesn't. there's no way. there'll be an exodus of postal workers. that's not going to work. lauren: extreme warning. stuart: congress is exploring additional covid relief for small businesses. edward lawrence at the white house, what do you have in your report, edward? >> reporter: yeah. a few schools of thought on this. here at the white house they're sort of hedging their bets, being noncommittal about another round of covid relief. but listen to this. >> we are in a very different place than we were a year ago or six months ago. historic records of job creation, historic economic growth across the country.

200 million people are vaccinated. so we're in constant conversation, but in terms of a specific request, you know, i would say there are constant conversations. >> reporter: so sources familiar with the conversation say that democrat senator ben cardin and republican senator roger wicker are crafting a program that would help restaurants and food providers. it would give companies up to $10 million per business and $5 million per location. critics like j.d. vance say what these businesses need are not more handouts, it's for mandates and lockdowns to end. >> the problem right now is that we're probably i throwing too much money at the problem. right? this is not 18 months ago. this is not everyone's shutting down, everybody's terrifieded, nobody knows what's going on. we now know what the coronavirus is, and we also have a terrible inflation crisis. >> reporter: and he thinks that we should focus on moving forward. now, senator john barrasso says

that the focus needs to be on accountability and where the money that's already been pushed out, where that's been going and has not been going specifically with the american rescue plan, $1.9 billion -- or trillion, $1.9 trillion, and not all of it has been spent. he wants to know where that money is. [laughter] stuart: don't we all? edward, thank you very much, indeed. congressman byron donalds, republican, florida, joins me now. congressman, do we need more relief? >> no. what we need are for mayors and governors of blue states to stop with the ridiculous lockdowns, the ridiculous mandates. look, the mayor of d.c. just put into place not only indoor mask mandates again, but now at every restaurant you've got to show your vaccination card. that's why restaurants and small businesses are struggling, because of these ridiculous policies as opposed to letting business owners get back on their feet. it's that simple. every state has money they can't even spend right now that's come

from washington d.c. we can't continue to bail out bad performance and bad leadership of governors and rock mayors. stuart: sounds to me like buying votes. you splash out trillions of dollars and then you splash out more trillions of dollars, and it's really vote for me. look what you get, dollars. i mean, that's what's become common place now in america. >> it's really unfortunate that's where we are. and we've got to stop it because what's also happening is working families, fixed income seniors, they are being bludgeoned under the weight of massive inflation caused by this ridiculous policy of overspending. liewrt. stuart: here's what ron desantis is doing about covid in florida. roll tape. >> the failure from the outset to really focus on therapeutics, i think, has cost a huge number of lives. you know, people are still getting infected regardless of their vaccination substitute -- status, so you need to have an emphasis on therapeutic es. not every single person needs to be going out getting tested.

that's not a good strategy. what is a good strategy is to have these at-home tests available for our vulnerable population. so we secured a million at-home tests. we're going to be distributing them to nursing homes and long-term care facilities throughout the state of florida. stuart: what do you make of that plan, congressman? test only the people who are vulnerable. >> it's a tremendous think. i was with governor desantis a few days ago talking about this very strategy, this very plan. at least he has one. joe biden has no strategy at all. what we've done in florida is we have proven we are the gold standard when it comes to managing the pandemic. people have gotten back to their life. our vaccination rates are some of the highest in the country. but at the same time, even though we have a lot of cases, our state continues to recover and get back to life, so much so even aoc spends her time in florida -- [laughter] as opposed to new york. the proof is in the pudding. we know what we're doing. governor desantis has led the way. joe biden might want to take some notes on how to manage a pandemic.

stuart: you know, on monday we had a million new cases reported. on tuesday it was 860,000. on wednesday it was 640,000. that is a down trend. is it possible that we could be just washing through tidal wave, getting through it very quickly, letting it wash through so we can emerge on the other side? is that florida's policy? >> it's not even just florida's policy. that that's where the data's taking us. it's very, very possible. if you look at the omicron strain whether it was south africa or any place it's been, it burns through the a population but the bad effects are not neary as tough. so people recover from it, actually, pretty quickly and move on. if that's what's happening in our state, i know nobody wants to actually get covid, but long term a great thing for the public health of the state of florida and, frankly, for the country. stuart: can you give us an update on the status of the economy in your area, fort

myers, naples, the gold coast area, is it absolutely booming? >> oh, yeah. listen, our business owners are overwhelmed with everybody that comes. we have more people in our area, frankly, than ever before. can't wait to see what the tourist numbers look like because it's been phenomenal. and to be frank, i do have to thank the terrible governorship and leadership of democrats in blue states. it's led to a boom here in southwest florida. our business own ors are taking advantage of that. stuart: i hope i never cross you. [laughter] byron donalds, republican of florida, thanks for joining us. see you again soon. >> thank you. stuart: staying in florida. yet another democrat has followed aoc's lead and headed to florida. who is it this time, lauren? lauren: it's eric swalwell of california. he was seen maskless in the lobby of the lowes hotel in miami talking to a friend. he had his infant with him, two months old. this is what congressman swalwell tweeted just days ago,

let's bring it up. as we end 2021 mired in a deadlien pandemic, you should know who has prolonged it: these guys. republican liars. your vacation canceled, your kids back to masks everywhere, but he was seen without a mask in florida. i don't judge parents, but that baby is two months old which means if he flew on a plane and now he's in a lobby during a pandemic. stuart: having a grand old time outside of his own state. all right. thanks, lauren. point a taken. point taken. thank you. the mayor of chicago slams the teachers union after they canceled in-person classes for a second day. nearly 340,000 students will again miss class. we have a report on that. reversing course, nevada lawmakers overturn their vaccine mandate, but college students -- what will that mean to the students? we'll talk to one of the students from the university of nevada next.

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stuart: i'm seeing red across the board for the stock market. dow's down 117. nasdaq has recovered a bit, it's only down 30. the s&p down a small amount, just 3 points, but lots of red ink again today. no school for kids in chicago for the second day in a row. the teachers union voted to shut down in-person crass -- classes. grady trimble is there. do we have any idea when kids will be back in the classroom? >> reporter: the district wants to reopen as many schools as possible to in-person classes tomorrow, but that's only if they get enough teachers to show up. the district says just about 10% of all of its teachers went into the classroom yesterday. the vast majority of them staying home and not doing virtual learning either because the district has shut that down. we talked to one teacher, joe, he's one of the few who went to the classroom. he hasn't participated in a work stoppage by the ccu since 2005.

he even has cancer, and he's still going into the classroom to teach. this district-wide shutdown, he says, doesn't make any sense when he points to his classes of 82 students and not a single case of covid that he knows of this week. >> but zero? zero? nobody has covid and they have to stay home? i think that's not fair. that's not fair to the students, that's not fair to the parents. >> reporter: democrats, republicans and public health officials are all in rare agreement that one of the safest places for students to be right now is in the classroom. school districts across the country, they've gotten billions of dollars to keep schools open. chicago alone got $1.8 billion from the american rescue plan and yet more than 4700 class rooms across the country, schools across the country are either closed or fully remote right now. back here in chicago mayor lori

lightfoot says teachers who do not show up will not be paid. the impasse continues between the chicago's teachers union and the chicago public school district. mayor lori lightfoot, stuart, having or harsh words for the teachers union saying they're holding the kids hostage here in the windy city. stuart: gradety, thank you very much, indeed. difficult situation for the parents and children in particular. of thanks, grade ety. nevada lawmakers have overturned that statewide vaccination mandate for college students. joining us now, university of nevada student caitlin richardson. what does this vax mandate lifting mean for you? >> yeah. so this mandate as campos pus reform -- campus reform reported last august required us to get vaccinated before registering in the spring semester. and now that it's been overturned by our legislative commission, it means that students like me are able to go back to campus. i personally did have an

exemption if, but i was still planning on taking online classes because all the requirements they had for unvaccinated students like weekly covid testing and mask wearing. so as long as we don't have any more changes, it should mean we're back to in-person learning. stuart: tell me what's happening at yale, if you would. campus reform, your organization, i know you've followed this story all across the country. i'm told that at yale they have to quarantine on campus, and they're told you can't eat in restaurants off campus. is that accurate? what's going on here? >> yeah, that's contact. -- accurate. yale sent out an e-mail saying once they get to campus, they have to quarantine until they're able to provide a negative covid test, and it really makes me wonder does this -- it seems more like prison than like school. one thing they announced in the e-mail is essentially solitary confinement. we're two years into this, and while this virus has changed, one thing has remained consistent for college students,

we're at a very low risk. especially now with only omicron. so it's really unclear who they're trying to protect especially when we have a new 100% vaccination rate on that campus. stuart: how do most students feel about this? >> you know, i think that students are really tire thed of all these -- tired of all these constant changes whether it's at yale going backwards, going back to what we were experiencing in march 2020, or on my campus even though the mandate has been overturned in nevada, some students -- i know students personally ld who would not have got the vaccine if their education had not been put on the line. and there's unvaccinate students too who still might not be able to enroll in the classes they need. but because they were prevented last november, now the classes are full. stuart: suppose there was no vaccine mandate, no mask mandate, no rules, no regulations at all, you could just go straight back to the

class, in-person learning from the professor standing up front. how many students -- give me a proportion, if you can, would actually go back to college under those circumstances with no rules and regulations? >> you know, it's really hard to say an exact number, but i do know on my campus once the mandate was overturned, we had a petition sign by students and faculty, about 3500 the last time i checked who actually wanted to reinstate this mandate. so this is actually really concerning when you consider this mandate was an emergency order. it was a 120-day order put in place by the nevada board of health. and it really shows that we can't have these government regulations that are making choices for people that should be personal decisions. they're overriding their own decisions and without any regar- stuart: that's really, yeah, that's really disappointing, that college kids don't want freedom above all else, for

heaven sake. thanks very much, caitlin. it's really good. i'm glad you came on the show today. come back soon. >> thank you for having me. stuart: sure thing. the spread of the omicron variant has intensified school staffing shortages. ashley webster joins us now. do we know what in new jersey, what are they doing there about this? >> reporter: well, pretty simple, stu -- good morning -- they're hiring retired teachers to fill the gaps. seems to make sense. based on a bill that's been debated in the new jersey legislature, the retirees, by the way, would be able to collect pensions and salis -- salaries simultaneously. schools would have to prove the need to hire former teachers who have been retired for at least 180 days for this school year and next school year because of the staffing shortages. the bill, by the way, scheduled to be voted on next monday with the new jersey school board calling the staffing shortage a crisis. stu. stuart: means it is.

ash, thanks very much. see you again shortly. now, more than 1500 flights have been canceled already today. winter storm could make travel a whole lot worse. airlines struggling with staffing shortages. we've got the full report from dallas/fort worth international airport next hour. the manhattan d.a. making it easier for criminals to just get off the hook. one new york city restaurant says the policy ignored -- the police, i should say, ignored their calls after someone came in with a weapon to steal cash. we've got the full story for you next. ♪ ♪ am i out of my head, am i out of my mind? ♪ if -- [inaudible]

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stuart: still some red ink for

part of the market. the s&p though is in the green. dow's down 70, nasdaq's down 12. all right. just as eric adams takes office as new york city's mayor, manhattan's new district attorney is easing rules for criminals. madison alworth has the story. business can't be happy about this, madison. >> reporter: stuart, they're not. you know, crime is already so high in the city, and they're worried that these changes could make crime even worse. something that seems impossible for some of these small business owners. i'm at festival, a cocktail caée hear in manhattan, and they recently had an attempted robbery. a person came in with a concealed weapon. they called the cops and no one came. take a listen. >> unfortunately, whenever there's an incident here whether it be a homeless person pitting on patrons or -- spitting on patrons or defecating in the restaurant or violence of any kind, when we contact them, when we contact the police, they don't show up.

so what i've heard is they don't show up because they're understaffed, they don't have the means to respond to every incident. so unless there's an active shooter on site, the police apparently in new york don't show up. >> reporter: so, of course, there's now real concern for the new district attorney's policies, and there is the concern that it could make all of this worse. alvin bragg has told staff to stop prosecuting certain a offenses including theft, trespassing and resisting arrest. this is all coming at a time when the city is seeing record high crime. gun arrests are the highest we have seen in over 15 years. by november of 021, nypd had arrested 4,1 is 44 people, the lampingest number -- 4,144. stuart, as you can imagine, businesses are beyond worried. think about it. if a new yorker is concerned about walking around on the streets of manhattan because of crime, they're not going to walk

past restaurants, businesses, and they're not going to go inside. so, clearly, or change is needed. we've seen that with the crime rates. business own ors are concerned that this change is not the one to fix it. stuart? stuart: it's a disaster. thanks very much, madison. more on this, more on the soft on crime thing. we have a california democrat who's actually flipping on his own party. this democrat is ired of rampant robberies -- tired of rampant robberies. who are we talking about, ashley? >> reporter: california democrat rudying sala says no mas. he is fed up by crime enabled by the passage of proposition 47 that, if you remember, reduced shop lit lifting charges of goods worth $950 or less from felonies to misdemeanors. quote: enough is enough. we need to fight back against the criminals who are stealing from our communities. we have seen the unintended consequences of prop 47's weakening of our theft haws, and i believe california voters are

ready to make their voices heard on this issue again. now, a few bill would lower the amount a suspect can steal before facing a felony to $400. that was the original threshold. [laughter] law enforcement also blaming prop 47 for a series of, as we know, smash and grab rob robberies from the bay area down to los angeles. but get this, stu, governor newsom calling on prosecutors to use existing laws to punish criminals. he just doesn't get the message. stuart: no. i get tired of shaking my head at the shenanigans in california. >> reporter: yeah. stuart: we all do. thanks, ash. crypto-related crime up 79% last year. plenty of theft, scams as well. we'll tell you how much these criminals got away with. for the first time in a decade, i.c.e. has failed to release its annual report. it's supposed to show how many el illegals have been removed from the country. so what's the hold up?

star reporter bill me melugin has the report next. ♪ ♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care.

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i.c.e. has delayed the release of its annual report for the first time in a decade. do you know why they did that? >> reporter: stuart, good morning to you. we don't know why. but as you mentioned, there's kind of a historical precedent with this. this is the first time in ten years i.c.e. has failed to release its annual report by the end of the calendar year. typically, it's done in the weeks leading up to the new year. here we are one week into 2022, still no report, and that details i.c.e. enforcement and deportation numbers, and critics say the report is likely going to show that i.c.e. enforcement and deportations have sunk like a rock under the biden administering. we'll explain what's going on. one of the reasons why those numbers are going to plummet is because biden has taken a drastically different approach with i.c.e. he's severely restricted who they can go after. he tried doing a 100-day moratorium once he took office, no more worksite enforcement rate, and dhs secretary mayorkas

has flat out said just being in the country should not be grounds for being deported. i.c.e. says they are not delaying it and it should be out sometimes this month, but former i.c.e. director tom to 40 man says there is no excuse. he says it's unprecedented that it's not ready. when he was i.c.e. correcter, he says he had it ready in november, and he believes it's being slow walked. take a listen. >> why right now they're trying to ship those numbers. and i know, i used to run the agency, i've talked to a lot of high-level people, they're trying to figure out how to manipulate the numbers so the message doesn't appear to be assed bad. to there's no reason -- especially, bill, when the numbers are down 90%, it's not like they've got a lot of math to do. this should be a simple report. >> reporter: meanwhile, take a look at this mug shot. this is a sex offender from el salvador who was arrested here in the rio grand valley yesterday by border patrol after he tries to cross illegally in

hidalgo. now, he was previously convicted of indecency with a child by sex is yule contact in the houston area. that was in 2018. even though he was convicted of that second-degree felony, he was put on probation, then rearrested for stalk and child abuse, then he was deported from the u.s. in 2019. he apparently tried to get back into the u.s. yesterday. thankfully, border agents able to nab him out here in the pressures gv. he has an active warrant for his arrest. back out here live, here in the rio grande valley sector alone just since october 1st, border patrol says they're already nabbed more than 60 sex offenders. send it back to you. stuart: what a report. bill melugin, what a report. thank you, sir. let's bring in national guard association chair major general michael mcguire. you're a border guy. sir, it looks like i.c.e. is covering up an extremely low level of deportations. is that what's going on? >> well, good morning, stuart.

happy new year to you. remember that old adage, if you always tell the truth, you never have to get your story straight. i don't know why they're delaying the report, but clearly they're breaking precedent here. stuart, you remember when president trump was running in 2016 the number was 11 million here illegally. we are certain here in as well as texas and the other southwest border states that they're going to shatter a record for illegal crossings that we know of this year, over 2 million. think about that. one-fifth of the number we accept as in the country illegally, albeit low, i would expect, have crossed this year. biden's derelict in his duty, and it's a complete fail. stuart: is it deliberate? let the flow continue, stop the deportations, the ones that are illegal stay here? is that deliberate? >> absolutely. on january 20th when he was sworn in, the very first order he gave back when i was commanding general of the guard was to zero out all the funding

for the national guard troops, stop construction on the wall, stop the surveillance package that was being put into a sector here in arizona, and i can tell you this is an open borders situation. the temperature is rising in yuma, all along the southwest border here in arizona, and it is completely lawless. stuart: when you say the temperature's rising in yuma and that area, what do you mean? >> i mean, the local citizens, we had a yemeni citizen arrested just a couple weeks ago on the terror watch list. now, yemen is one of the watch countries that when i was serving in the military and, you know, i've told people, stuart, why would a guy who was a two-star general get out and run for the u.s. senate to try to raise an army of millions of voters? because the senate is derelict in their duty. mark kelly is derelict in his duty. the federal government has a requirement to secure the border.

finish -- they're going to vote on an infrastructure package with not a dime of infrastructure money for the border, and our citizens are suffering. border security or is human security. that's why i need all your viewers to help me out there. stuart: okay, we hear you. major general, thanks very much for joining us, sir. see you again soon. >> thanks. stuart: identify got this just coming at us. federal authorities in cincinnati, 56 shipments of counterfeit goods. what kind, lauren? where did they come from? lauren: sports memorabilia like championship rings and trophies, 1300 of them in all. think red sox world series, nascar championships, even the vince lombardi trophy, okay? they came from china. they are completely fake, and they're headed -- they were headed -- to american consumers. so customs and border patrol says this fake memorabilia defunds our own sports organizations which sell real, legit stuff, and they fund criminal enterprises that are starting in china.

stuart: all right. thanks, lauren. still ahead, mollie hemingway, nigel farage, the mayor of miami, francis suarez, and the "wall street journal" guy, dan henninger. i say it's time for parents to band together as a political group. not a formal group, but an identity group. we have a common interest together, but parents don't have a voice. the republican party could be that voice is. that's my opinion and it's my take. and it's next. ♪ -- one thing i can tell you is you've got to be free. ♪ come together right now over me ♪♪ ♪ ♪ ♪ ♪ ♪ ♪

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>> they are using the january 6th committee as a witchhunt. it is an overreach of power from congress and quite frank with the democrats. >> the 500 million at home tasks the president announced he wants to purchase, he wants to make those available on the website. get them produced and send them to the states for distribution. >> jerome powell is calling the shots. the notes that came out yesterday are sending tremors. yesterday was a bit shocking. >> nobody should invest, nobody should buy anything when you can't verify the numbers.

there is no real rule of law. >> crypto is a risk on asset. it is in risk off paradigm. not surprising it is getting hit. the long-term outlook is extremely positive. stuart: 11:00 eastern time. it is thursday january 6th. a mixed picture emerge, mostly lower but turned around. a mixed market right now. dow is down 150. nasdaq up 58. some movement. show me the 10 year treasury yield, it is at one.73%. now this.

it is time for parents to band together as a political group, not a formal group with membership cards and dues but an identity group based on raising and educating our children. parents have a common interest in this but don't have a voice. the republican party could be, should be that voice. it is the democrats who ruined public education in big cities, ruined is a strong word but justified. in chicago schools are closed again today. the teachers union won't teach. mom and dad have to go to work, who can't go to the school. millions of parents face the dilemma today. another problem is vaccination for very young children and booster shots for teens. when the democrats laid out vaccination mandates the parents have no voice, nobody is listening to their concerns. without proof of vaccination.

does anybody ask? kids in masks, not socialized properly, not learning much, no voice for the parents. this is all about top-down rules imposed largely by democrats versus bottom-up freedom supported mostly by republicans. an opportunity for parents to identify as a group and vote their common interest. it is a golden opportunity for republicans to lead. third hour of varney straight ahead. welcome back, molly hemingway joining us this thursday morning. you are a mom. will republicans be the voice for concerned parents? >> it does seem this is already happening. i live in virginia and we recently had elections where democrats long controlled the state were wiped out of office and it was largely due to the fact that parents were sick of

democratic policies, governing as you noted, banning children from going to school for years on end, having extreme curriculum that teaches racism in the schools as art of critical race theory, all kinds of issues where parents fell their voices weren't being heard so they had it at the ballot box, the democratic party's challenges teachers unions are one of their most reliable constituencies, $700 billion to democrats and they are an important part of the coalition. stuart: a great deal of money, chicago public schools canceled for a second day, teachers union voted to go -- >> science backs up the children are safe in school. children need to be in school. masks, social distancing, doing what they can to keep safe in school.

my kids are held hostage at home. stuart: the president says the schools may be open, will the white house ever take on the teachers union. >> they are trying to encourage the teachers union to back away, they know it is politically disastrous. what needs to be done, this is politically a bad issue for the democrats but something you wish everybody would care more about the plight of children in recent years. we use to make so many policy changes even if it would affect a few children. what we have done to our children in this country and delay their growth, keeping them from their friends, the onerous mask mandate all based in no science or very suitable scientific claims, it is really

criminal and shocking it perpetuated this long or chicago is pulling this stunt even as it is costing democrats political power throughout the country. stuart: does it last? does this outrage of what the teachers union last till november of this year? >> i think we have seen a real shift in the last couple years and it is not just about teachers unions and curriculum and school shutdowns but as the democratic party progressive base become more powerful in the democratic party it has also alienated normal people from the democratic party, you see it on a host of policy issues where democrats need to focus on not losing moderate voters if they want to have political power, how to keep it in fair and honest ways and not by controlling elections and what they are proposing in the senate. stuart: just like the way you have drawn the distention between progressives and normal people. i like that. molly hemingway, thank you very much. appreciate it. back to those markets.

it is a mixed picture. the dow is down 160 for the nasdaq is up 42. some volatility today. brian bilski. tech is selling off still, interest rates are going up. is that a main focus, is a waiver in your bullish outlook? >> happy new year, nice to see you again. we pulled the market for year end target. 5.003% or something like that and we did that because we remain fundamentally biased, technology start from an asset level are the strongest growers in the us, those names over the next 3 to 5 years are places to be, to maintain technology stocks with one broad

paintbrush, meaning high multiple stocks. many technology names are more like consumer staple names. for the next 3 to 5 years, we advise clients to be buying on days like yesterday when we had a lot of weakness. we see a little bit of a flip-flop, quite frankly the market seems directionless to start the year until we see earnings from a macro perspective them weaker macro numbers which weren't a surprise given the fear surrounding omicron and the virus so earnings will tell a better story when we see those over the next couple weeks. stuart: what is your outlook for earnings this season? >> better-than-expected. the region -- revision cycle burns down little bit, it is tougher relative to first quarter last year but it will set the pace. the biggest surprise in

earnings is the second half of the year as the supply glut starts to come in and we still feel very confident with our target for the s&p for year end 2022. stuart: your consistent advice is don't get out of the market, the market is going up and if you have a perspective of 3 to 5 years down the road we've got to be in the market now taking advantage there. that has long been your perspective. >> it has lose the stock market is a market of stocks was using too many are making accident at the nasdaq level, the best names and best brands are right here in the united states and we think they will continue to lead for the foreseeable future. stuart: big tech? >> big tech over the long-term but near-term, the next 12 to

18 months you want to be oversized in terms of your position in names like financials, industrials, consumer discretionary. we are good at a lot of things in the united states but we really good at buying stuff, the discretionary sector, retail a strong. stuart: you've got it right, your projection for the s&p 500, 4800 at the end of 2021. what is your forecast for the s&p 500 at the end of 2022? >> we remain comfortable with our 5300 target for year end 2022. we think it will be choppy as you started the broadcast in the first half of the year but the second half is strong with the notion of the potential supply glut with earnings being i everybody things. stuart: a popular guy with your clients, having been right fairly consistently. >> clients have suffered because they've driven by and continue to fully focus on bottoms up fundamentals looking at this. stuart: thanks for being here. we will see you again soon.

you are watching apple, down a little bit today. lauren: the iphone 14 is supposed to be the phone that is dramatically different. we did a story that 40 million iphones were sold over the holidays but a lot of people early on resetting the 13 wasn't that different from the 12 but it became a smash hit so what will the 14 do? the camera is expected to be different. reports say this is complicated but it won't have a notch. it will just be a pill shape the house of all the sensors so it is less clunky, that is my best explanation. >> speculation about the iphone 14, something dramatic. stocks are 73, not bad. retailers, what if we got?

lauren: i'm showing you macy's and bed, bath, and beyond, a bullet, macy's is closing 6 more stores on top of those previously not under pressure to spin off their e-commerce and a surprise gain for bed, bath, and beyond, terrible earnings report, down 7% but we knew they were closing 200 stores this year, just identified 37 of them. investors might be thinking moving in the right direction. and then you've got walgreens. raise their forecast for the year, why is the stock down? big demand for boosters, vaccinations for kids, more workers, paying workers more money and continue to do so by hitting the bottom line. stuart: thank you very much. the nfl is drawing up contingency plans for the super bowl as covid cases climb in los angeles was one in 15 people in britain infected with covid right now is omicron peeking over there? i will ask nigel farage.

airlines have canceled more than 1000 flights for the twelfth day in a row and now the new round of winter weather could make it harder for the airlines to get back on track. the travel report is 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

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>> 1500 flights canceled today, 1200 delayed. casey steagall is at dallas-fort worth international airport. what happens to all these stranded passengers? are the airlines giving them some help or our passengers out

of luck? >> when it comes to the weather the airlines tell you you're out of luck for the most part, they take care of your mechanical or something on their end but it is starting to unwind a little bit even though you mentioned a high number of delays and cancellations in the morning. as you have been telling you. this all started to unwind around christmas when lots of people started calling in sick, airline workers and the like, things got really hectic. the problems have persisted in the new year and 20,000 united states flights have been canceled since christmas eve. 20,000, passengers, long lines and waits. as we said, on monday more than 3000 flights were grounded, yesterday around 1700. it was going down and in the right direction but mother nature isn't letting up. additional problems expected

for the next couple days in some spots as more snow and ice impact the system, more frustration. >> i have my flight at 1:00. >> we were rerouted to leave at 6:00 pm. >> flights were limited. >> even city is not experiencing winter weather like los angeles, look at the line there because of the staffing shortages we were talking about, the airlines and federal airport workers say they are experiencing the latest covid surge, many employees calling out sick, stretching already tight resources even thinner to baggage handlers, ticket agents back here. if a flight attendant is supposed to be on a plane that is leaving dallas and headed to

denver that flight attendant is sick, they've got to fill the gap. a lot of moving parts and it will take time to unwind but it is getting better, we can tell you that. stuart: we will listen, thank you very much, see you later. the uk reported nearly 195,000 new covid cases yesterday. trimester boris johnson says he will not put new lockdowns in place and says vaccinations will remain voluntary. look who is here, the englishman nigel farage. is omicron peaked in britain? >> perhaps i'm being optimistic but what i can tell you is everything they told us about this strain was right. it spread very quickly, very easily. symptoms in 95% plus of cases is no worse or in many cases not even as bad as the common cold.

a leveling off of the numbers of people getting infected, a big number i grant you but there are grounds now to begin to feel pretty optimistic. it looks to me we are coming out of the end of this. stuart: prime minister boris johnson said you are going to ride this out. it will pass quickly. what to do the brits think of this? the man on the street? are they happy to ride it out and go through it? >> we have been very compliant ever since the started 21 months ago, locking down all the rest of it, the vast majority of people have complied but there comes a point two years into it when even when you know a lot of people got it but none seriously ill, you keep on about your business so we are taking precautions.

boris johnson now has got this right and i think the rest of europe are becoming hysterical about it. scotland and wales put restrictions on. johnson on this now has got it about right. stuart: did you hear about the president of france taking backlash because he says he wants to annoy, he said he wanted to piss off, excuse my language, the unvaccinated, that includes blocking unvaccinated folks from transportation. >> he said those that are not vaccinated are not proper citizens. we've got legislation coming in in france, legislation coming in in italy and dividing people into the jab and the jab nots. i've never seen a minority group being treated more appalling the than they are now.

this is the growth of big stateist socialist government and potentially very dangerous have macroin's comment, absolutely disgusting. stuart: always lets us know how you really feel. we will see you again soon. tennis star novak djokovicz was supposed to be in the us trillion open. tell us the story. ashley: he arrived in melvin to compete in the australian open after posting on social media he had been granted a medical exemption for the vaccine and there's a lot of people upset by that and he has been left in limbo. he had his visa canceled leaving him stranded at the airport for more than eight hours as the australian border force said djocovicz failed to meet entry requirements, he was moved to a nearby lockdown hotel. the serbian has spoken out

against vaccines and refuse to acknowledge whether he has received any shot against the virus was the intrigue denial is being appealed in federal court. we have not run him out of the country but for now djocovicz's chance to play pretend australian open title remains very uncertain. stuart: what a story. that is really something. now this. the nfl looking into alternate sites for the super bowl scheduled for february 13th in los angeles but covid restrictions in la could force the league to relocate. the nfl says it has a standard, backup current locations and there are no current plans to move the game. the dallas cowboys stadium say they are being considered as the backup. 9%, cutting enrollment outlook for this year.

they bring in 375 members, now down to 150 to 200,000. conagra, the people behind duncan hines, slim jim's and other prepackaged foods. price hikes on all their products. it stems from ongoing supply chain problems. the democrats push to go green, pushing inflation even higher. that the latest report from goldman sachs and we will get into it. the mayor of new york promised to fight crime but his district attorney is refusing to prosecute crimes like resisting arrest, burglary, dan henegar on that next. ♪♪

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♪♪ lucy in the sky with diamonds ♪♪ stuart: lucy in the sky with diamonds.

vermont, 31 degrees, warmer than new york city. the markets, plenty of red ink for the dow industrials, down 100 points, 36,200 but the nasdaq is up 30 in the nasdaq up four points. japan's foreign minister asked the us military in japan to stay inside their base to prevent further spread of covid. americans in areas they are concentrated in large numbers. walmart cutting paid leave in half for workers who test positive for covid. employees will now get one week of paid leave instead of two. this comes after the cdc updated its isolation guidance. united states postal service wants a temporary waiver from president biden affect the nation mandate. what are they worried about? staff shortages? ashley: neither snow nor rain nor heat nor gloom of night, they are going to deliver the mail but not when it comes to

vaccinations. deputy postmaster general expressing his concerns over the impact on the mandate requiring employees to present weekly negative tests. which was obtained by fox news, he says vaccine or test mandate, likely to result in the loss of many employees even by employees leaving or being disciplined particularly given higher-level a temporary employees at this time of year. the letter concludes by saying given our central role to the nation particularly during these challenging times we believe it is critical to avoid disruption to our vital operations. and extending the deadline for 120 days, on the very legality of the vaccine. stuart: if they get the waiver everyone else wants the waiver and they should have a too.

ashley: absolutely. stuart: new york's mayor eric adams is proposing a 3 day work week. that, he thinks, will get people back to new york city offices and wants this program done, completed within the next three weeks. dan heninger joins us now, new yorker to boot. this just happening, little time for analysis, the mayor proposing a 3 day work week, new york city. >> like you will get himself deeply involved in the private sector practices. what he realizes, as you know well, fox recorded on sixth avenue near fortieth street. and and that is not the case. struggling to return and the

reasons are complex. eric adams is committed to reviving new york city, it may be difficult, businesses, corporations, law firms are struggling with their workforces to set up a system that can get them back to work but that's the point why he is doing this. stuart: do you think eric adams is the future of the democrat party? >> he certainly think so. he said look at me, i am the future of the democratic party. it is not the wildest thing to assert. that is a highly visible national office and clearly distinguishing himself from the progressives in the party. what is going on in washington

whether it is president biden, nancy pelosi, the squad, that is not the future of the party. the party's future lies in a more moderate anticrime direction, civil order direction and trying to build a coalition of minorities, blue collar workers and middle-class people who feel beset by what is going on in these cities. as we said many times the cities are run by and large by progressive democrats. stuart: what can eric adams do about the new manhattan district attorney who was wildly progressive and came out with a list of what i think of crimes that will not be prosecuted. this guy is going to get in eric adams's way, isn't he? >> he absolutely is going to get in his way and he is one of four in total progressive prosecutors in new york city, all five boroughs have their own district attorney and i have been saying for weeks the

progressive prosecutors are going in the opposite direction, as our bragg announced, he will reduce the penalty for crimes, to prosecute many crimes like trespass, fair jumping and the like but mayor adams does indeed to reconstitute the plainclothes police force, 600 nonuniformed cops who walk the neighborhoods of new york, seeing guys with guns and arresting them before they happen, that's a constitutional unit, bill deblasio disband it and he's going to put it back together. he has a new police commissioner, a black woman came from nassau county, she's on board for doing that, there's going to be a struggle but i think he's not going to step back from his commitment to reduce the crime in new york city despite those prosecutors. stuart: i would like to see it come back.

thanks very much, see you again soon. so these, talk about a change in direction, so that the's selling a mention in the meta-verse that comes with a matching home in the real world. we will try or i will try desperately to explain that shortly. that is a bmw that can change color the touch of a button. it is on display at the consumer electronics show in vegas with kelly a great he is checking up the newest products, kelly is next. ♪♪

>> that is las vegas, nevada, where the second day of the big electronics show is underway. kelly own grainy is there. tell me about that color changing car. >> reporter: i'm so excited about this. i can have a nice little baby blue to match my jacket. it will change color at the push of a button. i've seen a lot of interesting prototypes but last night i got to see some tech in action. it was drone racing if you can wrap your head around that, these drones are whizzing at 90 miles an hour, this is high-speed piloted by remote operators. it is a 3-dimensional course in las vegas, and lastly the race

took place at the t-mobile arena and in palaces, museums, opulent courses and the fan base is global as well. the biggest thing fans want to see is the crashes, they told me half of the drones crash in each race. we saw the sports take off and it is a similar set up, races are broadcast, notable sponsors and an interesting note, i spoke with the founder of the league and he told me 70% of fans don't watch the big 5 sports. this is for new generation of people whose lives are very interested in technology, it provides an opportunity for viewers, and a lot of folks have trouble with? >> i see a growing from here? drones and exciting races, and except new technology as i understand it.

>> reporter: another thing i want to highlight is new partnership to bring drone racing to the meta-verse. the meta-versus acute focal point and trying to wrap my head around what drone racing will mean in the meta-verse but fans will be able to buy nft from their favorite pilots and such but a lot of things we are seeing, we will check that. is soon as the doors open, it is 10 minutes from now. >> at the electronics show, change the subject, listen to this, nike is suing lulu lemon. what is that about? ashley: file suit in manhattan claiming patent improvement over its at home fitness device and mobile apps. nike says it holds a number of other fitness agreement patents

that lulu lemon is infringing on by selling the mirror, the wall mounted device would guide users through a variety of cardio classes, they challenge the company, lulu lemon says, in another legal battle with tele time but in this case, and they infringed on its patents on some athletic apparel. the other people making money, the lawyers. stuart: who makes the money? the lawyers. what is goldman sachs saying about a push for 0 carbon emissions? >> i hear about that a lot but based on the assumption carbon taxes arise $100 a ton,

analysts at goldman projected likely rise in prices and four major economies, the us, china, germany and canada? the analysis says the inflation impacts will be biggest in the united states adding accord of one%, and surging commodity prices, rising global demand ric grenell up inflation. a greener economy might be another reason for policymakers to be wary of those rising prices. stuart: greenery is a religion and you don't turn aside religion easily. stuart: there are more sellers than buyers, more red than green and the dow is down 125 points. the mayor of miami wants more cities to adopt crypto

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stuart: scamming was the most common form of crypto coin. how much did they get away with? ashley: how about a record $14 billion in crypto currency. it is a lot of money. according to chain analysis losses from crypto related crime was up 79% from a year earlier boosted by that spike in theft, scamming the top form of the crypto currency based crimes followed by theft. most of which occurred through hacking of crypto currency businesses. reports as thefts have risen in line with the rise of decentralized finance platform or the 5. transaction volume on that platform grew 912% but hackers are always around, they been able to exploit transactions,

analysts say the same decentralization that makes it so dynamic, so popular allows for widespread scamming and theft. stuart: make sense of this one for me. sophie --sotheby is selling the meta-home. ashley: i distinctly heard you say you were going to explain it earlier in the show so right back to you. i will try. this is the first time something like this has been done. and involves their real estate, a general contractor and mft collector. a real-world home in a virtual counterpart in the meta-verse. the buyer, the nft, require the ownership rights of a physical home which by the way is set to be completed in miami in the fourth quarter this year, 11,000 square feet, 7 bedrooms,

9 bathrooms, transaction done on the ethereum block chain. the virtual home in the meta-verse will live in what is called the sandbox meta-verse, community driven platform where creators can monetize assets on the block chain. my head is hurting. i think i get it. stuart: i think i get it too. the meta-verse and the real world covenant each other. i think i got it. you are all right, thanks. francis suarez is the mayor of miami, just elected president of the us conference of mayors. congratulations, that is good stuff. >> wonderful to be with you. stuart: you want other cities to sign onto a crypto compact i believe but let me point something out that i read on

bloomberg. your boldest proposal investing city funds in bitcoin faltered in front of the city commission. it turned out it is illegal to invest municipal funds in such a volatile asset in florida. that is quite a speedbump for your proposal, isn't it? >> the miami coin which raised $26 million in hard currency put up for a big coin yield that would be distributed to all our residents, that certainly didn't fail. the fact that we have already paid, myself being one of the two, that didn't fail and the fact that we are looking at the possibility of receiving payment in bitcoin, that haven't failed. we knew that investing in bitcoin as part of our treasury would require changes in the law that haven't happened.

and delay do, those are state and federal potential changes. that is not even possible so it is not fair. stuart: did you say residents of miami in your immediate area will be getting some kind of payment this quarter from your operations in the miami coin? >> absolutely correct. we are going to be distributing in the first quarter of this year the logistics, a bitcoin dividend yields based on a percentage of return on our investment, $30 million generated in miami coin and that will be distributed to every single miamiand that is verified and gets a digital wallet and it will be distributed and it will be government innovation actually yielding a benefit to our residents, something incredible.

stuart: have you got any idea, very roughly, how much the payments might be to each individual resident? >> i will give you the macro picture, we generate 30 million, the coin yield is roughly 10 million, 10%, 3 million annual yield. depending how many sign up. half 1 million residents, hard to identify a miami resident. we will do it based on voter registration, we have 200,000 registered voters. if you assume half of them, half of them registered for bitcoin, 100,000. 3 million on an annual basis by 100,000. stuart: congratulations, thanks for being on the show today, hope to see you again soon. time for the thursday trivia question. which name was the most popular

for baby boys in 2021? there is your choices. i can't beeve that but we will take guesses after this. 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. (vo) america's most reliable network is going ultra! with verizon 5g ultra wideband now in many more cities so you can do more. hey, it's mindy! downloading a movie up to 10 times faster than before. oh, is that the one where the mom becomes a... (mindy) yep! (vo) i knew it! and claire in hd clarity. steve, is that jelly? this place is packed! . . verizon is going ultra, so you can too. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns.

do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining neil: stuart: which name was the moats popular for baby boys in 2021. i haven't got a clue. make a guess? >> neither do i. go for rowan number one. how about that? stuart: i would have said milo. show us the answer.

arlo? arlo? multicultural name. best definition, between two hills. number one name for baby girls, eloise. goat to get this back in, ash, send in "friday feedback". varneyviewers@fox.com. keep them coming. stuart, it is yours. neil: thank you, stuart. we have the selloff continuing here. the dow down 91 points. what is fascinating with me, back up in interest rates, pick up more steam today. as high as 1.5%. we're just under that at 1.74, thereabouts, to put it in some perspective a year ago. below 1%.