♪. ashley: earlier we asked, which state is the most densely populated? take a guess? i will give you the answer? new jersey. the population per square mile is 1208. a lot of folks in new jersey. the markets selling off. not a great way to start the week. neil cavuto, i done everything i can. take it away. neil: all right. i appreciate that, my friend. enjoy the rest of your day. ashley: sure. neil: we're following these very same developments you've so beautifully monitoring, ashley, that is what is going on with technology here because what we saw play out in the first week is continuing to play out today. we're off our worst levels but again in case you're looking at the nasdaq right now you know it is down close to 9%, 10% would deem a correction right now. 20% of course is a bear market. so we're watching that one closely, you know, when you get into the internals of this

market, more than 2/3 of the s&p 500 stocks, they're at least a correction territory. so we're going to monitor that. what all of this could mean. let's first of all get a read on all of this with jonathan hoenig following these developments. jonathan, the year is still young but man, is it off to a bumpy start. >> neil, you mentioned that underlying already has been occurring in the s&p 500. exactly the same thing has already happened in the nasdaq. even before today's correction about half of all nasdaq stocks were already down 50% off their all-time highs. so finally what we're seeing now is those big dogs, those "faang" stocks, ultralarge cap tech stocks which dominate not just the nasdaq, most index portfolios they're finally starting to correct. whether that could be inflation, higher interest rates, too far, too fast. they're leading the way down. we have not seen that for quite sometime. neil: i guess the question that begs some answering here whether it continues, right?

i mean if you've been tempted to sell in the past when technology stocks, specifically had taken it on the chin, you've regretted that because they have an incredible way of coming back. now that has been almost a rule of thumb for them. can't always be that way of course. anything special in this route that you're pay attention to? >> it has to be interest rates. we're seeing interest rates and inflation, particularly interest rates rise, like we haven't seen in years or even decades in this country. we're talking about the fed and you know, is the fed behind the curve or ahead of the curve. even short-term interest rates, five-year yield, neil, has gone from .4 of 1% to 1.5%. so there is a positive correlation, inverse correlation today between interest rates and tech stocks. the higher rates though, i think lower tech stocks go. that is the big trend of the market right now. neil: another trend we see is higher interest rates playing out right now. 10-year note in and out of 1.80%. if you think about it, jonathan,

we started out last year with the 10-year one%. i think we were at .96. i have to correct myself, by january 4th, we were at .906%, essentially doubled that. obviously the fear rates still go higher. how do you play this out? >> neil for some of the audience, interest rates that is so wonky, or whatnot, if you think about it, the most important number in the economy. everything is based on interest rates. often times expecting long term expectations based on those interest rates. neil, i know you're too young to remember the 1970's, it was a period of not just higher interest rates but huge interest rate volatility. that is real cost to the economy. that is my fear what we're seeing now. so it will impact big tech but i think it will impact the economy writ large. we'll get some numbers this week, we could see consumer prices up 7% year-over-year.

i don't know if our audience got a 7% raise last year. i certainly didn't. this inflation story is not going away soon. we'll see it in higher rates, higher prices potentially lower stocks as well. neil: you're quite right to harken back to the 70 arrest experience with inflation. i can remember paul volcker came in to address that, would raise rates half a percentage point, one pull percentage point at a time, the prime rate, that was over 21%. i'm wondering now in this environment whether we're in for anything like that or we're going to be for as goldman sachs says a minimum of four rate hikes. maybe not all of the quarter point variety. what are you looking for? >> you know, our audience might not remember, as i understand it, you actually were a young page as jimmy carter's administration, not advising him. neil: i was. >> you have some unique experiences memories of that

era. you're fairly unique in that sense. we're living through a time most investors have no knowledge of living through higher interest rates, even interest rates remotely higher. we've seen better than a decade artificially low interest rates. they will start incrementally at first. i fear the fed like all central planners they will be wrong this time just as they have been wrong in the past. they have been slow this time, neil, the 52-week low list, the list of all stocks and etfs at 52-week lows, it has been littered with bond funds right now. keep in mind the lower bonds go higher yields go. the trend with higher yields will be a lot longer, more sustained even than the most optimistic investor and economist belief. neil: got it. thank you, jonathan hoenig. getting the latest from chicago on all of this. keeping a close track on some changes in store today with osha requirements that people get mandate. the supreme court is taking up this issue, might have a ruling

on it, in a matter of days. meantime though, that mandate holds and how businesses hold to that is anyone's guess. edward lawrence with more from the white house. hey, edward. reporter: neil, you know a slew of companies getting ready to fire a large amount of people. the latest to announce was city group that said they would fire any unvaccinated worker by january 31st. the mayo clinic already fired 700 people because they are unvaccinated. google has given out that no job, no vax, no vax no job mandate already on this. others like target, lowe's, starbucks, they're standing by their vaccine mandates, exactly what they believe should go forward. the administration making the case on "fox news sunday" that they're only protecting workers and businesses with this. listen. >> i think the thing most disruptive to any business or industry have half the workforce out because they're sick with covid. we've seen with the omicron

variant prior protection protects you less well than with the current, than it had with prior variants. reporter: missouri attorney general says these types of vaccine mandates through osha are much larger than vaccines. he says it will set a precedent that the president could use to have non-elected bureaucrats dictate what americans do. >> you see the biden administration signaling climate change an emergency and could charge the epa to take draconian things there. that only administrative agencies can do what they are authorized to do, and they are not authorized to order the vaccinations of tens of millions of americans. reporter: he expects supreme court will decide on the case early as today. osha will start to give citations today for the vaccine portion of that vaccine mandate. the testing portion of that vaccine mandate, those citations

will go out on february 9th. back to you. neil: it is all a moot point if the supreme court says they went too far, right? >> exactly. it goes away, if it goes too far but what is happening line the scenes osha is developing a permanent rule that takes in some cases up to six months or more. so that goes through a different process than what they did here which was an emergency temporary standard. neil: got it. edward lawrence, thank you my friend for that. katherine minu joins us, founder and ceo of the muse. work place firm i'm probably trivializing it, katherine. thank you for joining us. what are you finding finding whe hear reports of so many quit the workforce, has nothing to do with mandates, all this other stuff we get into, everything to do with peace of mind, not necessarily looking for job security. maybe the job is not the end all, be all. what is going on? >> it's a really interesting time in the labor force, neil. i think that there are a few

different trends playing out. firstly, we're seeing people who rediscover ad sense of purpose or values during covid, realizing that the job they held are not aligned with the life they want to live. we're seeing one segment of the workforce making moves for something that is better aligned with their personal preferences, values, professional needs. we're also seeing a lot of people look for better salary, better flexibility, better perks and benefits, better learning, growth opportunities. we're predict that there will be two additional waves of the great resignation of 2022. unfortunately i don't think we've seen the end of this yet. neil: what is driving it though? someone quit as job, or isn't eagerly looking for one, either they don't need it, or they have other high priorities or they're independently wealthy, i don't know what it is but we've never seen it in these numbers.

what's happening? >> the highest quit rate we've seen since we started recording the data and it is really staggering when you look both raw number of quits and imbalance between job-seekers and employers. i think to your point some people are quitting because they have other sources of income. the gig economy is obviously, you know, allowing a lot of people to make ends meet in between employment. but for many people, i think it speaks to the labor market is so competitive right now that for a lot of workers they know they can get another job. so it means they're just putting up with less. they are asking for more benefits. they're asking for better work place conditions. many cases they're asking to like their boss which you know has not always been a prerequisite in the past. when you see that balance of power changing, when employees actually feel like they're in the driver's seat, people start to make much more considered choices.

we're seeing that play out in really interesting ways right now. neil: do you think they're getting too cocky, katherine? >> i think that is certainly, that is certainly always possible, right? anytime you're trying to draw conclusions from a large set of data, there are certainly people within the labor force who may be, you know, have overly high impression of their marketability and we will certainly see people who get left out in this musical game of chairs, that the economy is playing right now. but at the same time, i think the broader trend and one that certainly the muse has been tracking over the last five to eight years is the increasing power of the employee and businesses have been consistently forced to up their game as it were, whether it is by offering better salaries. that is what many people think of. in a lot of case what is employees are looking for according to our data on the muse is not just compensation but it is things like

flexibility or work life balance, learning and both opportunities, better benefits outside of compensation such as health care, flexibility, professional development stipe the growth of awareness among employers they have to actually compete for their people is not a bad thing in the long run. it's a complicated picture and we'll certainly see a lot of winners and losers when it is all done. neil: you know the economy itself, this is why we have this inflation is very, very strong. i'm wondering, that is providing the back drop for all of this. i'm wondering if the economy softens a little or the federal reserve succeeds in raising rates to the point that it slows things down, are all bets off after that? >> you know, i do think we'll see some contraction or reduction in the quit rate. fewer resignations if the economy softens. that is very, very likely to be

expected. that said we'll see certain sectors, technology workers, financial services workers, likely a lot of retail and hospitality workers which are smaller pools of available workers that we saw pre-covid. i think we'll continue to see parts of the economy where the competition for workers remains fierce. you know, i also think as we start to mandate return to office or hybrid work place strategies, that a lot of people will find that the preferences for how they want to work, that they have developed during the last you know, year-and-a-half, of the pandemic, don't align with what their employer is offering. i think we're likely to see a fair bit of change, of resignation when that happens as well. neil: yeah. if it is playing out as you said it would. thank you very much, the muse founder and ceo. some fascinating undercurrents that might not just be linked what is happening here and now with omicron and things are

going on that front. we'll keep a good eye on this, with the dow down 464 points. 10-year back at 1.84%. we'll update what is brought up in the selling pressure, excuse me. we want to take you back to chicago where for a fourth straight day classes are canceled. for how long? ♪. voiceover: riders. wanderers on the road of life. the journey is why they ride. when the road is all you need, there is no destination. uh, i-i'm actually just going to get an iced coffee. well, she may have a destination

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♪. >> my kids are struggling. they have struggled all week. i wish that they could at least be online with their teachers. >> just seems like a power play, very inappropriate. our kids are being held hostage and you know, adults can have disagreements but keep the kids out of it. neil: oh, what if the world worked that way but right now in the chicago area it does not. for the fourth straight day kids are kept out of classrooms. doesn't seem to change anytime soon. garrett tenney in chicago with more on that front. reporter: good morning to you. that is the big question how

long will the standoff go for there is some progress in the negotiations but clearly not enough for the two sides to be able to reach a deal so for now more than 300,000 kids are still at home in chicago for a fourth straight day. mayor lori lightfoot is in a bit of a tough spot in these negotiations. she really doesn't have a lot of leverage to work with to try to force or push the union to return to the classroom. legal actions take too long. she wants kids back right away. this weekend she conceded she is largely relying on public outrage to eventually force the union to return. >> well, i leverage i think we have we have the will of the people. parents are outraged. they are making their outrage known to the teachers union. this is a very different dynamic than ever before. we've got enormous amount of parent activism. they are writing letters, emails, protesting, holding press conferences. this is an unprecedented level

of parent activism. reporter: a group of parents have now filed a lawsuit of their own against the chicago teachers union in an attempt to have the courts force teachers back into the schools. this morning the head of the union said that is where teachers want to be but it is mayor lori lightfoot who has not been willing to compromise enough on a deal to make that happen. >> we don't like bullies. we don't like tyrants. we're not going to be bullied or pushed into a corner. common sense safety measures. reporter: yeah one issue mayor lori lightfoot is not willing to compromise on to have districtwide remote learning. she wants the schools individually to decide about they need to go remote or not. she says the children need to be back in the classroom because that is where it is safest for them to be as the surge continues to hit the city.

neil: garrett tenney, thank you so much for that. ian prior, the fight for schools executive director, doj director of public affairs. ian, what recourse do parents have? >> well you know i think mayor lightfoot said it best. they need to keep their voices up. they need to keep putting pressure on the union and litigation certainly is on option as you said that will take a while. interesting to me that mayor lightfoot were applauding the activists, three or four months ago parent activists were considered domestic terrorists. this is out growth of last three or four months or year, they're frustrated with the schools and frustrated with the unions. looks like frankly in chicago the unions are running public schools. neil: there isn't even at-home online alternative for the time-being. there is nothing for the kids.

>> there's nothing. i mean not only does it affect the children who will not be able to learn for the past four days but it will affect the parents. imagine you're a single mother in chicago who has to go work one, two, jobs. now your son or daughter are at home with no ability for that son or daughter to learn this, is not just something that will affect children. it will affect parents. you know, in this day and age when we hear all the words about equity certainly doesn't seem equitable to have kids at home and force parents to take days off of work or to hire child care in order to make ends meet. neil: now this was originally borne of the idea that omicron cases were rising rapidly, unlike anything we've seen before and it is an extremely contagious variant we know as well it is not a dangerous variant. we hope it stays that way but all indications are it will, will remain that way. so i guess my question is, is this much ado about something that doesn't warrant it?

>> yeah, absolutely. i mean, look, i think we're getting to the point of this pandemic where you're getting variants like omicron which are really highly transmittible colds. if you look in chicago the bears were still playing at home in soldier field. the chicago bulls and blackhawks are playing to packed stadiums. why can't schools function as well? the answer is money. if you don't have seats to fill in the stadiums the teams are not making money, when you look at schools, the teachers will still get paid, the unions will still get their dues. what is incentive for them to actually go back when the union is out there going to bat for them but ultimately going to bat against the children. you will hear all kinds of rhetoric we want schools to be open, want it to be safe but these schools have gotten billions of dollars all told to safely reopen and put systems into place, quite frankly the fact that we're still dealing with this in january of 2022,

right, much less virulent strain of covid is false. neil: are they risking job suicide when they cross a mayor who has been pretty much singing their tune, on their side, throughout covid and well before obviously and now starkly ignoring her challenges? >> yeah. i think this is what we're seeing, right? now we're seeing that democrats like lori lightfoot, like others have seen the disasterous polling. they have seen the results in virginia, in new jersey. they realize, hey look my political livelihood will depend on this. just because i have had union support in the past it may be time to break with that support. it will be interesting to see what president biden does. he can weigh in on this issue strongly with the mayor as of yet he hasn't done so but the fact of the matter is you do need to look at the politics of this. we're seeing democrats across the country realizing that unions are really going to spike their party and lead to a

disasterous result come november. neil: it is incredible. ian prior, thank you very much, my friend, good to see you on this. hopefully we don't have to keep repeating these things as they go on and on and on. we'll keep an eye on it. also keeping an eye on rising crime spikes in the big apple again. there is a new mayor in town. so there is a new sheriff in town, eric adams but there is also a new d.a. who was separately elected to a job that seems to run counter everything that the mayor has been saying. he is pretty easy on crime. the mayor not so much all of this as crime rockets after this ♪ n 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.

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♪. neil: all right. all of a sudden crime is a big issue in new york city and there are such high hopes with new york mayor eric adams coming

in. the 20 year veteran of the new york city police force but in a separate election don't forget that new york also now has a new d.a. and that guy doesn't see things quite the way that eric adams does. in fact he has been defending a far left prosecution agenda that some say is going to undo all the improvements on crime that the mayor wants to bring. alexis mcadams has more from new york. alexis. reporter: hi, neil. well the new d.a., alvin bragg has only been in office here in manhattan for matter of days but people have been talking about him ever he since he put out memo in the first week saying he is too soft on crime and every stay new day new criticism reals in. d.a. out in harlem where he was grew up, invited by reverend al sharpton to talk about his criminal justice plan been under fire since he released it. this coming after bragg advised his own staff not to prosecute

some low level offenses. plans to reduce charges from stealing from stores and drug dealing. bragg says he wants to go after violent criminals here in new york but don't want to ruin the lives of low level offenders. listen. >> we've all seen the story of the person who is on their 8th arrest. people say how did this happen, how that assault happen? there were seven prior times person struggling with addiction and mental health. connect the person to services. that will make them safer. it is intuitive. it is common sense. i don't understand the pushback. reporter: but a lot of people don't understand his plan. now on friday the nypd's new commissioner reportedly sending an email to all officers in new york city expressing ken for their safety over bragg's new proposals. the commissioner, one of several law enforcement leaders calling out bragg. >> i think if create a situation where you know, you have a society of lawlessness. quality of life issues, while they seem like small level

crimes they are a big deal to the people that live in those neighborhoods and quality of life complaint have gone up 59% in new york city since 2019. reporter: now, neil, another big issue that we're learning more about this morning is that the union who represents nypd sergeants says that the d.a.'s office is leaving out key information that their officers are putting in police reports. they believe they're leaving that out in the prosecuting process so they can have lesser charges on several cases, telling their officers not to sign off on any of those charge unless it matches what they saw in the field and what's in their police reports. we reached out to the district attorney's office for a comment over the weekend but haven't heard back yet. neil. >> alexis, thank you for that. alexis mcadams in new york city. read on this from a guy who want for mayor of new york city, curtis sliwa, new york city mayoral candidate, guardian angles founder. happy new year. >> to you, too, neil.

neil: i think curtis, they call this mixed messaging. the mayor saying one thing, the district attorney quite another. who will win the day? >> let me tell you something the hawk is talking out there, it is cold on a day like today but alvin bragg who believes in thee philosophy, hug those thugs, prosecute them, has said this every step of the way. he has not minced his words. he hasn't vacillated. he hasn't changed. he ran on a platform which said i if i come behind you, neil cavuto, while you're withdrawing money in an atm machine, i stick a gun to your head, as long as i don't shoot you or pistol whip you i get charged with a misdemeanor if i'm arrested. naturally i go into court, i know how to run the system. i plead to disorderly conduct which is a violation and it goes away. i go back in the streets to do it again and again.

so if you happen to be a criminal, you recognize where's the money? obviously manhattan. come get the money. that is what alvin bragg is saying because there will be no ramifications, there will be no consequences for your actions but he has been very consistent on that. the new mayor, eric adams, must take him on head on. if not, then his agenda will never successfully be implemented because the d.a.'s office will be cutting these thugs loose. neil: you know, if you think about it, curtis, the new police chief in new york picked by eric adams has been very, have he critical of the manhattan district attorney and has made it clear that his policies will make life a lot more difficult and crime a lot more of a problem in the big apple. curiously we had not heard eric adams say the same thing unless i've missed something? >> no, you haven't missed something. he appeared with al sharpton

months ago. both were on the same podium and they both pledged that even though it appears their agendas are different, no, eric adams says he is a good man, i can work with it. he can't. there are remedies, neil. it will not come from eric adams. he has no power over district attorneys. we have a brand new governor, she can remove him from office. she has the power to do it. she is a democrat. she won't do it. only like california, in california, they have two d.a.s are under recall, boudin in san francisco and garson in los angeles. if worst comes to worse you go to u.s. attorney's office in the southern district of manhattan, the most powerful department of justice prosecutors and they can charge the gun crimes and take it right out of the preview of the manhattan district attorney.

neil: curtis, while i still have you, the mayor is also okay with this non-citizen voting bill. in other words those who are not legal citizens of the united states, i believe 800,000 plus, are in the new york city metropolitan area will be able to vote in local elections and the like. he had serious reservations about this only a few weeks ago. now on board with it. what do you make of that? >> of course. he played the rope-a-dope. he wanted to appease the critics like me but then again ultimately he sided just as he had in the campaign. remember i debated him, i said you can't do this, green cardholders vote? voting a privilege. you need to be a citizen. he said that i was seen xenophobic and racist. he had second thoughts, you shouldn't be allowed to vote in a green card in 30 days. he allowed the legislation to become law. it has to be challenged in court. it is unconstitutional according

to the new york state constitution. i'm leading an effort to do that with other republicans all this will insure democrats elected in perpetuity in new york city. if you're a republican, pack your bags, head to florida, texas, tennessee, parts unknown because you will be persons of no consequence politically in new york city. neil: it is wild. curtis, thank you very, very much. good seeing you again. >> we'll stop this manhattan d.a. from hugging those thugs. do your job, alvin bragg! prosecute the thugs. neil: we'll see what happens. curtis, thank you very, very much. charlie gasparino has gotten some more information on the new york d.a. and what his future might be looking like right now after this. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina?

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guy elected by the people and manhattan's district attorney is in that position for the time-being. controversial though his policies may be. charlie gasparino has been following this story. he has some news for us right now. charlie? >> we are talking about alvin bragg and you're right, neil, it is not easy to recall. you can recall elected officials in new york and over the weekend i spoke with some, with at least one major business leader in new york, name not going to be used right now. net worth has a b in it and a dollar sign so we're talking lots of money here who tells me there is talk in the business community, in new york city business community about trying to figure out a way to removal vin brag through a recall effort, now the full story of his, how he is going to do his job, how he is not going to prosecute many crimes is coming out because they believe if this guy has his way over the long term it will make new york

city's business climate even worse than it is and you know, these sort of calls are now, you are starting to hear them on the campaign trail even among democrats. tom swazi running for governor as democrat, long island democrat, i believe he is a congressman right now he is taking aim at mr. bragg. keep an eye on this story. there is some talk in business community, people that have money, might be able to mount the drive to do this. it is nascent. remember bragg was elected overwhelmingly but a lot of these guys in the second-tier, even, they don't vote. they don't know. go democrat, democrat, democrat. all of sudden they find out who look what i voted for bill de blasio who is crazy or alvin bragg. we'll see what happens. this story is developing. another story that is developing the markets, neil, particularly the nasdaq. they're trading off dramatically. i talked to traders that tell me this is the worst trading environment in a long time. all fingers point to the fed

having to raise rates a lot earlier than they have thought. it is going to have impact on all sorts of stocks, not just the regular nasdaq names but also ipos. they say watch the ipo reddit. reddit as you know is the social media board used by meme stock traders that were talking, you know, essentially sharing retheir research about various meme stocks, amc, reddit is now readying an ipo. morgan stanley and goldman sachs are the advisors. people talking about the spring. that is smack dab in the middle of when the fed actually starts raising rates. if there is casualtity to be had, if the fed goes through raising rates real early like they signaled the last couple of days, reddit ipo most likely according to underwriter sources will be delayed later in the

year unless market conditions improve for some reason. you can't see that happening if the market is now selling off based on fed rate increases sooner rather than later, tapering sooner rather than later. ipos of riskier stocks. reddit is kind of a risky stocks. it appeals to meme stock traders. it goes by the wayside if people stop doing that, because rates are rising and they throw less risky assets, there is less reason to be on reddit. keep an eye on this story as well, neil. it is, it could be a casualty at this of what we're seeing in the market if this market continues to sell off dramatically as it is today. neil, back to you. neil: thank you, my friend, very, very much. charlie gasparino following all of those developments. something else we're following right now, is the fortune of tennis giant novak djokovic who is now allowed to stay in australia. that doesn't mean he can necessarily play in the australian open. he wants to play in the

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♪. neil: all right, here is the good news for tennis giant, novak djokovic. he can stay in australia. the bad news that the country still can't move to deport him. it depends. let's get the latest from jonathan hunt. reporter: neil, novak djokovic has won so many victories on court but now he can add a significant one in court although his battle with the australian government isn't over yet because the immigration administrator can unilaterally revoke his visa if he chooses to do so and is weighing that option. djokovic has been back on practice court anticipating

playing in the australian open. he tweeted. i'm glad that he did not revoke my visa. he said he did all he could to comply with the australian entry restrictions as he understood them. judge kelly says the point i'm somewhat agitated about, what more could this man have done. passion over state, vaccine privileges, were own full display on monday in melbourne, as australian police officers tried to keep the peace those who support the unvaccinated tennis star and knows who don't believe that he should not be allowed into a country where ordinary people were having most restrictive conditions in the world. djokovic said he was allowed into trail yaw recovering from a

covid infection. they showed a positive test dice 16th. the day after the apparent test he appeared maskless at an event for young players. australian open gets underway next monday, neil. only certainties in all of this at this point are djokovic has cemented his role as a polarizing figure in sports and the australian government has cemented its reputation for having confusing and apparently unequally placed covid restrictions. neil? neil: jonathan hunt, thank you very much for that. keep us updated, my friend. jonathan hunt following all of that out of l.a. meantime here the push own the administration's part to provide better than 500 million covid testing kits for americans within the next few months that might prove easier said than done. we have the capsule ceo and founder. this demand for tests is all the rage right now, eric, and i'm

just wondering given the omicron and just the sheer number of cases it doesn't shock me at all that test demand has rocketed, now we're trying to fill that up, but where do we stand on this? >> good to be with you. we're seeing you know, we're seeing very elevated level of demand for tests. we think that is a really good thing, amidst frequent and consistent testing and access to easy testing is a essential part of curbing spread. what we at capsule we have ability to distribute tests to more than 100 million people across the u.s. in a moment's notice. we invested hundreds of millions of dollars to fill the technology and infrastructure to do that. we're standing by and ready and delivering tests in a number of markets across the country to try to help curb what's a pretty viral spread of omicron. neil: eric, do we know when you

do get a test, it can isolate whether, omicron variant, some of the older delta type variants or just that you tested covid positive? >> the tests today are by and large by area you tested either covid positive or not. we have note seen the next layer of tests come out that can distinguish between what strain it is but i think, you know, regardless of that it continues to be important that people have a early indication of what their positive or not so they can take appropriate actions. one of the important things the way capsule distributed tests we are a full service pharmacy, have been from day one. so what people when they access tests from capsule, the ability to chatter text with a pharmacist, to have all the clinical support you need, you know what you need to do if you test positive, you have somebody there in your back, in your corner, getting really good

clinical advice along the way. neil: how accurate are these tests? >> you know the science, depends on the tests. the test that we have are among the most accurate tests that are on market. i think that antigen tests are different from pcr tests but i think they're very good of giving somebody early indication whether they are carrying the virus or not. neil: you know when we look at the demand for tests period now, and the fact that the administration wants to help the process along by providing test kits, got me thinking that it actually could increase the paranoia from americans, right? i got to get a test, i got to get a test for every ache and sniffle. maybe that's a good thing, i get that, it can make the population more of a hair trigger nervous wreck, wouldn't it? oh. i guess we lost him there.

eric, thank you very much. i have apologize for that. communication dropped out there. capsule ceo and founder. if you are a fan of more testing it is going to become available to you here a lot sooner than we think. 500 million tests have been sort of coordinated by the white house to get out there the next few months. we'll see how successful that is. you're not imagining it. we're off to another selloff, second straight week of the year, pretty much ending up on the same fears that dominated trading last week. concerns about higher prices and inflation and higher interest rates and now concerns about omicron. so we'll keep you posted on all of these developments. ♪ ♪

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angeles. >> the market is continuing the slide extended the rocky start to 2020 that began last week you have it down over 400 continuing the retreat for the last three sessions, the s&p 500 and nasdaq are continuing to drop after four days of losses i want to 0 in with the nasdaq we see a text selloff the index is down near 2% since the beginning of the year in nearly 10% below the record close on november 19. as you mention pressure is pushing close to a correction the index needs to stay above 14451 to avoid that and is currently hovering around 14650. the rough start has come as u.s. treasury moves higher the benchmark enter tenure 1.8% after ended the year 1.51% this comes as investors turned their intention to inflation data with the consumer and producer

pricing wednesday and thursday of this week respectively over the weekend goldman sachs projected the federal reserve may hike rates as many as four times this year that is once more than their previous forecast, goldman sees it shrinking the bond holding scenes this is a signal that it increasingly expects the central bank to get more aggressive to curb inflation. you mention tech there feeling the pressure big tech stocks or suffering losses shares of meta down over 3%, amazon is down over 2% in alphabet down about 1%, we will keep a close eye on this with jerome powell confirmation hearing tomorrow and the market is waiting inflation data this week for cues on whether consumer and producer prices of the interest-rate hikes. neil: thank you very much kelli o'grady let's go to edward lawrence including the push with omicron virus for more federal aid, where does that stand.

>> is starting to swirl around house speaker nancy pelosi said there's an opportunity that exists to put more covid relief money out there, it would be in the bill to fund the federal government as the deadline looms with the federal government could run out of money let's listen to her words. >> again we have to protect the investment is their most important we have to protect the health of the american people. the administration has not made a formal request for more funding but it is clear from the opportunity that it is there. when asked about it last week the white house press secretary will only say event conversations. senator roger wicker and ben cardin are working on upping the restaurant idolization and a separate bill which could be attached to the government bill byron donalds tells us the focus should be on getting government

out of the way not government handouts. >> what we need for mayors and governors and blue states to stop the ridiculous lockdowns and mandates the mayor of d.c. put into place not only indoor mask mandates again but now every restaurant you have to show your vaccination card that's why restaurants and small businesses are struggling. >> on top of that the u.s. is faced with $29.7 trillion federal deficit, 23 trillion held by the american people. neil: edward lawrence thank you for that. democrats haven't given up on the idea of getting something done they could find broad-based agreement they think it is a step in that direction let's go to richard fowler fox news contributor and forbes contributor writer of fox news political analyst, both very smart guys, thank you for joining me where can i begin

maybe you can help me make sense of this new attack line that will have more interest, certainly democrats that is voting rights, where does that stand? >> thank you for having me here's the problem that the white house has today it's not a problem with independence or a problem with trying to convince conservatives that joe biden is the right president, joe biden faces the problem with his own base what did he do to sure up his base as were in a midterm year understanding the headwind that he is facing is almost insurmountable yet the spread of omicron every state is almost in red and near collapse of hospital because more healthcare workers are getting sick and you're dealing with the impact of inflation what gets us excited is the price i'm tracking bacon, how inflation is doing and we see the price of

bacon over the past couple of months will have to see what this data points to us, that is something that impacts the restaurant no matter your economic status. we will have to see how joe biden places. if you watch the price of bacon you can tell how the economy is doing. neil: a lot of other items. but we'll see where that goes. i'm glad we have an environment where you can pick and choose things that have been soaring and not soaring as much. i hope that continues but the fact of the matter is the push of the voting rights seems to be political bad tuning there is far greater worries for the voting public right now then whether something like this gets done or past and everything must be addressed on what's happening on inflation, what do you think? >> first and foremost i'm so thankful to be with my friends i feel a "fox & friends" in fox

business happy birthday to richard fowler i realize i'm going to give him bacon for his birthday. neil: even the price of bacon came down to celebrate the day. >> exactly. >> i'm gonna say this this is the first time i think of going to say this i completely agree with richard's analysis on this point in terms of what it looks like for joe biden if you look at the most recent poll you have a 59% disapproval and interestingly i find this particularly interesting we know how donald trump is the worst poll of president in history so we understand that but he's only pulling three points above where donald trump was pulling at the same point in his presidency. he does have issues that he cannot really when you cannot really win on covid that's his issue to be creative and saying

i have a plan for covid this is what i'm going to do i'm a to bring jobs back to the economy not of those are materialized and now we see a media who totally favored him he gave him positive press coverage through their election or his first year in office it is really beginning to be honest about the performance of his presidency and it will send shockwaves to the democratic party that already has but it will continue this year especially if we see hyperinflation take off. neil: do you think this president has a jimmy carter feel to him? >> i would not go that far i think we have to see how the midterm election plays out for him. with that being said what joe biden has to do, he has to begin, you can never knock donald trump he always understood communicate with the base this is where joe biden is having issues. if you look at all of the past elections the loyalist voter in the democratic party's african-american women. at the top of the list of issues from a recent poll, we found

this we thought number one they care about voting rights number two they care about the economy and number three they care about how you're going to get covid under control. the president has to hit on all three of those marks if he plans to have not as bad of a bloodbath. it is also rounded, can you convince his base to get behind him one more time and vote for candidates that he supports an election down ballot. neil: i wonder about that i just think he's bumming the base out, they're not that into him and they don't think is that into the job that might not be fair and it may be a wrath against his age who might adjudge against old people but i'm just saying is it too late for that? >> i would argue his base was never truly into him they were more into the fact that they wanted donald trump gone and he

was a vehicle to do that. what we see you give an individual a candidate a participation trophy because he can't stay largely out of his base this is the result this is the participation trophy president in my humble opinion when it comes to the voting rights issue richard is accurately stating this is something the black women especially care about but that is not the real issue at hand this is the issue that they think they can get press coverage and say republicans are racist they don't want to pass voting rights so you should vote for democrats in the midterm i think that's a lot of what african americans are solid on because they play the card far too many times and we don't see the evidence of what they suggested. unless the economy really dials up he's gonna have a problem whether be today or tomorrow or the midterm speed would always come back to the economy. have a great birthday, enjoy have a good one.

richard on these developments letting you know about omicron you probably ask yourself surely there will be a vaccine for that now we have word out of the next couple of months maybe there will be right after this. ♪

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neil: the has to be a vaccine for omicron and maybe by march there will be talk that pfizer could be coming up with one, steve harrigan in atlanta has more. march is the date for a new vaccine that would target the omicron vergne as early others this week they've lowered the gap were immunocompromised they are monitoring as israel has begun administering the fourth vaccine to high-risk groups, the

cdc in atlanta continued to emphasize the effectiveness of vaccines and hard numbers. >> if you are unvaccinated to 17 times more likely to be in the hospital and 20 times more likely to die then if you're boosted. my responsibility is to provide guidance and recommendations to protect the american people, those recommendations strongly recommend vaccination for children above the age of five and boosting for everyone above the age of 18 if they're eligible. hospitalizations hit a new record on friday the u.s. more than 18000 people into the hospital that tops the record set almost one year ago. neil: steve harrigan thank you for that. let's go to gerri willis because moderna ceo is hopeful talking up the possibility of a fourth shot, maybe as soon this fall.

the confusion just keeps coming, doesn't it. >> there's a lot going on very good to see you as second booster shot already rolling out for the immunocompromised americans that was approved back in october before the general public another covid booster may be on its way as well that's according to moderna ceo, he is suggesting a fourth shot will be needed this fall as the efficacy wanes over the next few months. this morning he boosted his outlook for the company's revenues and told investors that mentoring omicron vaccine should be in clinic soon. listen. >> around the world to decide whether we think is the best strategy for a potential booster for 2022. >> that is not the only drug calling for a fourth shot as you just heard pfizer ceo his company is also developing an omicron specific shot has

suggested when is needed. but the science still hotly debated according to the health advisors of fourth covid job is not needed but that hasn't stopped countries like israel and australia from green lighting the second booster program but more boosters means big money for big pharma pfizer and bandura are expected to reap billions annually from a covid vaccine market that will likely be big enter bigger than $6 billion a year the government spending database shows the two companies are earning 23 billion in public money for vaccine development and doses delivered in the u.s. and abroad over the past few years. for moderna developing a vaccine has essentially purple that company from a biotech operator into an international player. meanwhile critics of the vaccine effort say they should take advantage of a generic drug in the marketplace i ivermectin that could slow the pandemic per the fda continues to say the

drug is not safe. as i send it back to you i just say now will be for the cdc and fda to make their decisions on booster number four last week officials decided to stop using fully vaccinated which implies to vaccine to adequate. more boosters in 2022 could be on their way. neil: a moving target continues to move. thank you very much on all of that. to doctor kevin campbell right now whenever i'm confused on this issue, can someone get doctor campbell with us the president and ceo, doctor, great to see you where are you on this. i gotta tell you a number of people say a third boost or of fourth booster or a fourth shot, annual flu-like shot treatment. it is confusing the heck out of them, where are you on this?

>> at this point we don't have enough real data suggesting we need a fourth shot or shot beyond that we know you need the first two shots the data is good in getting the third and protecting us at a higher level against omicron variant however, the rest is to be determined i would be very cautious about taking medical advice from ceo and pharmaceutical companies. at the same time i think we need to do the studies and find out if it's necessary. neil: the reason why i asked there's a lot of people to hear these news and hear about new cases and the rest in the confusion over whether your fully vaccinated after two shots or a third shot or a fourth shot and they say will given the spiking cases a lot good it does you anyway. what do you tell them. >> what i tell you we know from our experience the folks in the icu with omicron and the folks that are dying and on ventilators are by and large

unvaccinated. it makes a difference. the data after two shots of the majority vaccine against omicron is about 30 - 40% protection when you get a third shot a get you up to 80% protection. i think it's still important, we did a very clear singular message from the administration and from healthcare because the mixed messages play into the hype that we don't know if this is necessary or not. neil: a dumb question, mutations over the years, i headed curious thought those who have been vaccinated in the say omicron, it is obviously distressing news to them but by and large it doesn't appear to be serious with the unvaccinated i hear can be quite the opposite. am i right in saying that? >> your spot on i have

colleagues that it been exposed and developed omicron and minimal to no symptoms, they had symptoms they were very mild because they were all vaccinated. we see patients in the hospital to have omicron that are unvaccinated very, very sick. it is a real problem, vaccines work and make a difference but again the purpose of a vaccine is not to prevent disease it is super prevent death and severe disease. neil: the latest variant that is getting all the buzz is the delta crown variant, one of these seems to. every other week, should we panic when we get news of another. as you and i have talked about the whole job is to replicate and develop resistance that's what this virus is doing my hope we continue to vaccinate and protect even though we may mutate have other variants they become less and less less

disease causing. >> you and i have talked about this before your cardiologist, i've had heart surgery in the past and i talked to friends and colleagues of mine who are waiting for things double triple bypass that had to be pushed off because of crowded icus. i don't know if that remains the case but it is interesting to them wondering if there statistics available on people who have lost their lives or endanger themselves as a result of crowded icus. >> i don't have real statistics or data for this. my hunch in my sense from my own practice and speaking with my colleagues all over the world it is having an impact we are getting to patients late we don't have room for patients with coronary disease, heart

attacks or strokes or need icds or heart caps, there overwhelmed with patients 90 plus% the hospital have not been vaccinated. it is a problem i do not have the data but i think we have to get folks vaccinated so we can take care of patients. i would say to those patients having chest pain or other symptoms not related to covid. please seek care you still deserve to be cared for his be what i think you're exactly right i think it is valuable pushing, keep at it and thank you for all that you do. neil: consulting president and ceo, we are letting you know about the selloff. what is interesting the selloff continues the nasdaq very close to correction territory well-off it slows but this is been a steady process where interest rates backup tech stocks continue to selloff and nothing has changed the script, why

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neil: roles worries hit a sales record last year and this is the same rolls-royce were average prices can be 200, 300, $400,000 vehicle, record sales what is going on. susan li, what you have? >> interesting, on average you fill the car for $340,000 inflation not having an impact and neither is the chip shortage

i just spoke to the ceo of rolls-royce and they had all the chips that they needed last year end also for this year thanks to the larger parent company bmw off the covid trends power the record sales as well they said there was more discretionary spending because people had more savings and were not traveling and you only live once mentality with covid, the ceo of rolls-royce told me he still on track to go all electric by the year 2030 that's only eight years away he still confident, listen. >> behind the curve we have lucid, you have seen how these stocks perform over the past 12 months. there in the luxury electric market as well someone said they have years ahead of rolls-royce. >> i would not say so we're reading a very different segment we are not in the car business when the luxury business.

we will be the very first ones to enter the luxury segment with an all electric car. >> rolls-royce will introduce their all electric specter 2023. what's really interesting they think electric car fans are rolls-royce owners. >> more electric cars are allowing the more people to drive for the very first time in electric car and i think selling electric cars further in the future, interesting to know many of our clients already own an electric car so they already have experience. >> very interesting the trends you're seeing with record rolls-royce cars being sold during a pandemic, mind you. neil: he is not describing the all electric or bust push, is he? >> he is actually saying they're going all electric by the year

2030 and i questioned it i said it's already 2022 and he said this is the trend where consumers are moving to the have to move to where the consumers want to buy. neil: he has hybrid vehicles. they could be a hybrid where it's powered by gas and electric but this will be all electric when all is said and done. >> not combustion it eight years, he sounds confident a large parent company back it that is probably the solution. >> 's clients have the moolah, thank you very much, sorry you patiently understood that better than i lets go was scott martin and other gentlemen for money is no object taking a look at these developments it's interesting in the middle of a pandemic, people will stand on the muddy and the money for the things that they really want and apparently

fancy-schmancy cars other what they wanted. >> that is inside of a pretty good economy that is a sign of a strong consumer and a consumer that wants to go after things that they desire, you and i can remember bad times in the economy and difficult recessions where you didn't want to buy anything let alone food or gasoline. it goes to show you even though this consumers have starts to this recovery, the consumer is at the core relatively confident and aware of what they want to do with their money when they have it to buy goods and services. neil: what is going on with the market the second week of the new year where we lost a lot of ground in technology stocks. we see in the nasdaq come close to correction at 9%. others within the s&p 500 are well into correction territory or were. the term beneath the surface is

real. is this the year it also is down or v versus? >> this year it may feel like it's going to reverse, this is a cable show but let's keep it relatively clean for our young viewers certainly as money managers, we forget that markets do this in march of 2020 and into april things have been relatively calm we had a lot of support from the federal reserve and a lot of support from d.c. and the treasury department, some of that support is changing, some is rolling over to the consumer as we discussed in businesses as well to get back online and get the workers back in place, there is a handoff now happening to companies that are going to make earnings that's not an easy handoff when it's come from where we've been to where we are now. in our opinion i think the market likely goes up from here, it is likely that a lot of these

stocks whether the doc you signs, the zooms, the cost goes, the home depot's, the adobes, apple and amazon i could go on and on they are all over the place. a lot of those companies got too far too fast. the likely to come back in and the market will shoot first and ask questions later they will get oversold like they got overbought about that is as a long-term investor great opportunity is money managers to go out and buy these names at the press prices for the long-term. neil: it is very hard after three double-digit advances in the averages for three straight years to think it can happen for a fourth year. but we have seen strength continue maybe not to that degree what are you looking for this year, it's very early and a lot of variables and a grant you that as well. >> we are looking for companies to match earnings reports that is a stress point that a lot of

folks are trying to handicap ahead of the data that is likely to come out in the next couple of quarters by that were starting to come into the earnings seasons towards q3 and q4 of the upcoming year where companies are going to have to compare year-over-year results against results that are good say back in 2020 the reality in 2021 as we saw last year the realities companies will have to do better maybe with less will have to get a lot out of worker productivity which is ahead scratcher saying how the labor market is behaving companies as they deliver these are trying to get to q4 earnings coming out in the next couple of weeks and stars earnings season very soon subsequent quarters after that the get up to get innovative and creative on their bottom line to show that they're worthy of the prices that are traded at. the market ahead of time is knocking a lot of these companies down in price. in our opinion there would getting down to reasonable levels whether appropriate for

investment entry. neil: we will see what happens, good catching up with you scott martin the cio, we have a lot more coming up if you're trying to get to where you were to go take the bus, this isn't just any bus, after this. ♪ ♪ limu emu... & doug ♪ ♪ superpowers from a spider bite? i could use some help showing the world how liberty mutual customizes their car insurance so they only pay for what they need. (gasps) ♪ did it work? only pay for what you need ♪ liberty. liberty. liberty. liberty. ♪

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neil: you had it with the flight delays and cancellations in the hassles and the long lines, why don't you take the bus, let's beware this is not just any bus or buses madison has more. what are we talking about here?

>> we are talking about luxury bus travel much nicer than the city to city buses it is a luxury bus and they're looking to capture some of the frustrated travelers you mentioned thousands of delays and cancellation and sense christmas eve 26000 flights have been flat-out canceled, completely canceled those travelers are frustrated and getting to the destination the buses i'm here with the founder, we have talked about all the cancellations, part of the issue is from omicron but also staffing and hiring you launched a bus company when truck drivers are expressing a shortage, what if you guys done to staff the buses. >> we think we have created the safest most central way to travel from a perspective you have got ambulance grade filter ration and a vaccine mandate put

into place for passengers and crew and that we have the most comfortable travel with the canceling teams and were very fortunate to use this technology for passengers thankfully we have had a lot of drivers were excited to be here. >> this is not a day you guys operate that's why you see a couple of us on it the first week and you 5% writers in december you hit 70% that's a time when omicron was rapidly spreading you see the cancellations, what has led to the ridership that you been expressing? >> the high was 86%. people feel safe for all the reasons we talked about it is a luxury and upscale way to travel much more affordable than any first-class option for those two reasons we had really good ridership in december were lucky and were spoken for january so

far. >> obviously were on a bus and you view yourself as a competitor like amtrak or a plane, why that versus a traditional bus to new york to d.c. as your competitor. >> we reimagine just taken all the pinpoints no lines no crowds no fuss. you have the most comfortable seat in trouble and $99 one-way between cities the fastest y wi-fi you're working with the best in business, then we have services that you express earlier today. it is a really good price point for very high service. >> ninety-nine dollars from new york to d.c. on a bus like this it's hard to beat the prices when it comes to trains and planes thank you very much i'm going to stand up again let's see allstate in this nice seat as you mentioned it's balance counseling, motion canceling i been writing this all morning and it's smooth as butter.

as you're aware nj transit not always the smoothest that is a testament. neil: how and where do you get that or does it come to you. >> the bus does not come to you it had 10-yard you had to go to the security and waiting in traffic to get to the bus. neil: it looks beautiful, thank you very much madison following all of that, desperate times call for creative and actually pretty comfortable measures will see how all this pans out at a time when cities are trying to organize how they're going to get back into the post covid world and their calling for spending two or three days in the city, in the building they used to call your work home and spreading it out a little bit. how was i going?

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three days that is apparently going to be the trend in new york city and it is something the new mayor of new york is a fan of because he doesn't like the idea of everything doing remotely the city and the mayor think is damaging to those workers. let's get the latest from lydia hu as new york city proposes a three day work week to get people back into the groove. >> that's exactly right, an idea that is catching on and other big cities across the country as we look at the bay area in california a recent survey showed that half expect their workers to return to the office three days per week in the post-pandemic world but the differences work from home culture, work from remotely is much more prevalent in new york city than it is in other parts of the country, two thirds of

workers are working remotely in new york city while the national rate is about 11% working remotely that is according to friday's jobs report, mayor adams proposal comes after big banks across the city adjusted the widespread return to work plan as omicron surges some moving the return work target dates to february another giving more flexibility to continue to work from home catherine wilde is the president of the partnership for new york city that is a business roundtable group, she says employers want workers back to the office but given them great resignation worker expectation have changed. >> there is heavy competition and it is made that more difficult for employers to impose their will on the workers of talent they want to recruit. >> another factor here is the

city vaccine mandate does not allow a testing option for workers that policy with employees testing positive with covid is why dozens of chase bank branch locations have temporarily closed here's a sign that appeared in the window of one bank of staten island it reads temporarily closed due to new york city covid-19 workplace vaccination order and you can see behind me were sitting outside of a chase location in midtown manhattan it's also closed with the same sign saying the covid vaccine order is to blame. that policy mandating vaccines in the city as well as employee worker expectation with regard to working from home creating head when when it comes to getting workers back in the office in the big apple. neil: thank you very much, i do

not suspect this is a big problem from our next guest francis is a republican mayor of miami. i might point out he's been elected the president of the united states conference of mayor i really knew him when he wasn't all that big of a deal, he is a big deal now. very good to have you thank you for coming happy new year. >> happy new year to you it's wonderful being a frequent guest on the show last year. neil: let's talk about a little bit about cities like new york to get more new yorkers to come into their office. that's not a problem that you have but do you think that sort of stuff works? >> is definitely not a problem that we have all of our employees required to come into work unless they have covid or been exposed to covid, it is not an issue were dealing within the city of miami but certainly when you look at the numbers of how many new yorkers in a private sector working remotely two thirds it's no wonder it's difficult to get city employees to come into work so mayor adams

my heart goes out to him for some of the things that he has to do. neil: i'm wondering as well, what does the environment look like in florida with omicron cases did spike in your state like 70 others nothing to worry some, not very dangerous, that your finding? >> that's what i've been told it significantly more contagious but significantly less severe we also see a trend that continues that the vast majority over 70% of the people that are hospitalized are unvaccinated that's a trend that continues and we reported because it's a factual and we want to make sure the people understand what were seen on the ground we are thankful and hopeful that were seen hospitalizations go down. were hoping were past the peak

and starting to go back on the decline. neil: while i have you you're among the first in the country this that i wanted to be paid in bitcoin and your friend the mayor new york eric adams is saying the same thing and lo and behold bitcoin crypto currency, their very volatile and you yourself have said, are you as enthusiastic on this as you work? >> i am i've taken four of my paychecks in bitcoin since i said that. i will tell you i'm not a day trader i'm not looking at the day-to-day volatility if you look at year-over-year last year in 2021 bitcoin went up over 100% there aren't too many classes that went by that percentage and from my perspective remember investing is about confidence. bitcoin was close to 7000 but

right now people value bitcoin 40000 times more than they value the u.s. dollar, 40000 u.s. dollars to buy one bitcoin that is the biggest indication that a new technology that takes the human sector out of it when a very transparent rural and it doesn't create excess government spending which creates inflation which makes the poorest in our community poor because they have their money in bank accounts and don't earn interest and are diminishing and value because of inflation. neil: we will watch it very closely. good to see you again. the mayor of miami and a big enthusiastic supporter of crypto currency, mainly bitcoin. stay with us. whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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neil: all right. very quickly, keeping track a firm that said get vaccinated or get out, citigroup the very latest to say by january 31st, if you haven't been vaccinated you might as well not coming in because you're fired. the mayo clinic said the same, google said the same, this despite what we're hearing out of the supreme court weighing in on that very issue, a separate issue. let's go to cheryl casone in for charles payne. >> great to see you. good afternoon to all of you at home, i'm cheryl casone in for charles payne. this is "making money."