>> it was really awful and dishonest and destructive and i have a column urging kamala harris to part ways with him, take her role as president of the senate and lead the white house and i don't know if she is interested in this but it would be great for the country for someone to turn the democratic party away from this very district of hateful -- dagen: thank you. stuart, take it away. stuart: good morning, everyone. the vaccine mandate on business struck down. voting reform struck out. build back better all but dead. the president's grand plan to transform america couldn't get a vote and couldn't pass the supreme court. the left is wildly angry. bernie sanders as the democrats have abandoned working people, bitterly divided.

the president frankly looks exhausted. this has been a mulcher this week in politics, the worst week for the president and his first year in office. doesn't seem the market is paying much attention. investors are more interested in what the fed will do about inflation. the dow looks like a 300 point loss. 3 and 4% for the week, 134 in "the opening bell" if the trend continues. it is a 3 day weekend for wall street, the market closes for martin luther king day, some could be unwilling to hold stocks over the long weekend. the 10 year treasury, always have to upgrade you on interest rates, what is happening is the prices, 171. why is the nasdaq selling off? hard to understand. oil $882 a barrel, that is the

price. looks like higher gas prices are on the way. gas but he says $4 a gallon. bitcoin down a little today, looking at 42,$000 a coin and then there is this. novak djocovicz had his visa revoked a second time and will probably not be playing in the australian open which starts monday. he didn't tell the truth about his travels after testing positive. the authorities say he's a threat to public health and order. can you believe this. microsoft whose stock i own will tell you what language you are allowed to use. go on word and right mankind and microsoft will change it without asking you to humankind. you got to say lover. "varney and company" is about to begin.

>> you are watching "varney and company" have a great day. >> that is friday ernie. bernie sanders slamming the rest of the party, the apparent defeat, and build back better. let's see the smile. >>, president pivotal like clinton did, >> president biden had a bad week with the american people have had a rougher year.

and with tests not being out for covid. in every level biden has failed. i'm not feeling so bad for him. i'm a lions fan, the american people are losing under president biden and that is why he is struggling. >> this is a failed presidency. >> you are being nice. he doesn't seem to care. he hasn't address the american people in 70 days, doesn't have press conference, doesn't understand the concern people have about inflation, and what that means, to take your kids to school, all of the things this burden is putting on american families. bernie sanders is right that

working families are being let down by the democratic party. stuart: the left won't let him pivot. to stop him from pivoting. this is a real problem. >> haven't tried. he ran as a unifier, someone who's going to bring down the temperature and bring americans together. that was his decision. half of americans, calling half of american racists to double down on division. that is president biden. that is a failure of leadership and that is on him. stuart: just last one, why are you threatening to pull out of the presidential debate? >> just the commission. we want free and fair debates. the commission has shown bias, three simple things. they picked the moderator in 2020 that works for president biden, started debates after early voting and many can he members publicly disparaged the republican nominee. we went to them and worked with them for you and say those things will never happen again?

they said no, pounced into we don't care what 70 morning million a republicans say, we will work on behalf of our nominee and our voters like for a fair for him that is biased against the republican party. stuart: good for you. we will see you again soon. thank you very much. the latest read on retail sales. a big surprise, go through it. >> surprised to the downside. retail sales were down one.9% in december. inflation hit consumers during the holiday period. online sales down 8.7%, home pricing down 5.5, closing sales down 3.one and what makes these numbers look even worse is the fact that retail sales are not adjusted for inflation. they were reported in dollar terms. high prices to make the number

go up but it still fell because consumers cut back. stuart: may be we were spending a lot of money in october and november. >> november was revised lower. stuart: that is real weakness. >> didn't mean to be so combative. it has been a really tough week of bad information for the american public. stuart: absolutely right. let's bring in the market watcher of the morning. i'm changing the subject for a moment. it seems nobody is buying this dip in big tech. we have dip buying. >> this reality now will change faster than the market expected. it is not going to be this gradual as we move lower, it will be more of a shock.

you saw lyle brainard all coming out now. we have to start sooner rather than later and this is all very different than the conversation was a month ago in december. we will do it nice and slow, everyone will be nice in the sandbox, they won't play nice in the sandbox. it is spinning out of control and what will really happen, people have to think about the increment of the rate hikes, not how many. 50 basis points possible? it absolutely is. they will do that first because they don't do it in september after the election. if they do it now it is time to settle. that is why the market is getting nervous and buyers are stepping away going let's see this. they are just there are lower prices, not chasing up or buying the dip. they are buying it as the panic starts to unload.

stuart: after selling today not just in big tech but across the board doesn't have anything to do with retail sales numbers which were very disappointing? >> is not helping the tone. i also think wednesday's ppi, yesterday's ppi was not helping the tone. as we came into the open it is a long weekend, a lot can happen over three days in terms of tone and all that. i would not be surprised to see the market have another tough day today, so people should be prepared but once again if you have -- we stick with the value names. stuart: not selling yet. you have a great long weekend and see you next week. the vaccine mandate on businesses is gone. that means corporations have the choice to make their own

vaccine rules. citigroup says they will keep the mandate. you've got to get the jab, the deadline to comply. today, is it today? >> today you must show proof of vaccination the proof of exemption if you want to work at citigroup or lose your job by the end of the month. 65,000 workers, 99% of them are vaccinated. curious to see if citigroup goes through with this mandate. and for big private companies which is citigroup, and they and force this? yes. i'm not sure. the other thing, it is

expensive for the banks to them for talent and labor, we've seen wages go up, up, up, and up. it could be a cost pressure for city as well. stuart: i'm waiting to see if a double vaccination is okay or if you have to get the booster as well. that i don't know at this point. let's have a look. lauren: blackstone says the booster. stuart: blackstone, you work there you need the booster. futures suggest a lot of selling of "the opening bell," dow down 260 the nasdaq down over 100. now this. woke, i'm sorry, i read it wrong. word goes work. microsoft is rolling out a new feature that insists on politically correct alternatives to words like mankind, and more, the stock is getting close to $300 a share. the president all but conceding defeat, democrats voting on election bills. role tape. >> president biden: i hope we can get this done but i'm not sure. if we miss the first time we can come back and try it a second time.

we miss this time, we missed this time. stuart: senate leader chuck schumer is pushing ahead. he wants a vote next week. i asked tennessee senator marsha blackburn after this. ♪♪ another one bites the dust ♪♪ and another one does ♪♪ another one bites the dust ♪♪ another one bites the dust ♪♪ ♪♪ ♪♪

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stuart: friday, i'm in love. in south carolina, below 46 degrees. senator schumer will miss his self-imposed deadline to vote on voting reform. the vote is supposed today.

>> the senator from hawaii did contract covid. the senate will take up voting rights legislation despite the fact democratic senators manchin and senator, pass the legislation. president biden has admitted president biden admitted defeat. it is great but seems so ill-timed. the one thing they did is infrastructure. >> do you believe build back better and voting reform are absolutely dead. >> they will be dead. what chuck schumer is trying to do is blow up the senate, get rid of the filibuster, change

the rules so they can pass this radical socialist leftist agenda whether it is build back better or their election bill or putting dc into statehood they are going to continue to push this. they know they have a very narrow window to get things done, they will lose in the midterm elections so we are fighting every single day to block what they are intending to do. stuart: will the left let him change course and pivot? >> know. the left have a from on him right now. what he is doing is causing his members to walk the plank on all of this radical leftist agenda. the primary new york with aoc next year, afraid that she would be him in a primary. so instead of protecting his

members, he is putting him out here and they are going to walk the plank. that's why you have the pundits saying it appears republicans are going to take control of the senate, republicans are going to take control of the house because they've tilted so far left, now they can't get themselves back to the middle. stuart: you must be having a grand old time seeing the democrats tear themselves apart. i have seen bernie sanders saying democrats of walked away from working people. i've not heard a response from aoc or the squad but i'm sure it will be vigorous. they are tearing themselves apart. you must be happy and the republican party. >> it is sad for this nation that you have one party trying to blow up the rules of the senate, to pass their agenda. they are willing to throw everything away in order to turn us into a socialist nation.

barack obama said when he was president we are going to radically transform this country. they weren't able to do it. hillary clinton was to be the third term of obama. she lost. they got donald trump. they never accepted him. now they feel like they have two years to change the country, take control of your kids, their education, control of your bank account. the irs practice 24 hour surveillance, blowup the court, pack the court with the leftists who will sign off on all this bad policy. that is their goal and they are working overtime to achieve it and it is why we can't hesitate and we have to keep fighting every day and thank god the american people are showing up by the millions to fight with us to stop this. stuart: senator marsha blackburn telling it how it

isn't having a very good day i suspect. thank you for being with us. we appreciate it. adding to president biden's very bad off a week, north korea launching more missiles. >> the third launch in about a month. north korea says direct response to us sanctions on north korean officials but this shows very defiant kim jung un responding with pressure to pressure and building up his nuclear arsenal. 's goal is to weaponized a hypersonic missile that could fly undetected and hit the us. stuart: i have a bombshell for you. the russians are threatening to send troops close to america. this reminds me of the cuban missile crisis. are the seriously considering putting troops back in cuba? lauren: yes and venezuela. cuba was a soviet union partner during the cold war, the soviets installed missile there to hit the us and then you had

venezuela, they by russian military gear. russia is making the threat. look at this past week. three round of talks between the west and russia about their potential invasion of ukraine, they left empty-handed. russia doesn't want nato to expand the ukraine. is this a scare tactic. are we calling their bluff? i don't know but you are right. this reminds me of the cuban missile crisis. stuart: challenge of on all fronts. thanks. back to you shortly. we will be talking to former secretary of state mike pompeo about this russian threat to put troops near america. he's on the show at 10:15. second futures please. down across the board, reading this friday morning. "the opening bell" is next. ♪♪

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stuart: i'm show you doordasked because mark markhaney, he's put a price target on it and raising his eyebrows.

mark mazza mahaney says is going to 256 by the end of this year. >> that the reason you are bringing it up. ever since we upgraded the stock it is traded off so we don't get the timing on this right but this is the market leader in terms of delivery in the us market. they do restaurant, food delivery but also convenience store and grocery delivery. they are generating 70% of revenue growth and in a business most people didn't think would turn profitable, they bring free cash flow positive, the stock is pulled back a lot over the last three months.

stuart: i never knew there was so much money and food delivery. this is a product of the lockdowns i take it. >> absolutely. one of the biggest structural winners from the pandemic but even post pandemic the idea that you could have a restaurants delivery to your home and convenience store, doord- powers it by 711. you see more companies using doordasked to do delivery because consumers increasingly want things delivered to their home. it is a broad sweeping trend across the us but it will happen internationally. stuart: back to your promotion of amazon. you've got that look on your face. you suggest amazon goes to $4,300 a share by the end of this year. now at 3200. you are looking at a 30% gain. are you going to back away from the forecast? $4,300 a share? >> i have been covering amazon for almost 20 years now.

there have been absent flows in the stock but mostly one of the best performing stocks in the s&p 500. the stock is treated sideways for a while. why was it treated sideways in if you? the company entered into extremely aggressive investment cycle to accelerate their 1-day delivery and super same-day delivery, 5 hour delivery. they will get a return on that. the concept of demand lowered the price to hire the demand, proving shipping elasticity. the pastiche of the more consumers you demand and doubling down on core infrastructure. it is dislocated now rather than a 52-week high. stuart: just as he was starting it with amazon as a bookseller. i couldn't understand what he was talking about. what do you mean you will sell everything online? i didn't get it. i get it and i miss the investment opportunity. i've still not bought the

stock, even if it is going up 30%. >> here's your chance. great to be on the show with you. >> "the opening bell" on wall street. >> we don't have a rising interest rates at this point. risk trading and almost all the dow 30 have opened in the red. i see four winners out of the 30, 280 points, that is 0.79%. the s&p 500, the drop there is 0.69%. the nasdaq composite on the downside. yet again down half a

percentage point. the worst loss percentagewise is the dow industrials. big tech, pretty sure they are all down. microsoft 304, apple 171, meta-platforms at the bottom of the list 323, read into across the board for big tech. show me the big banks. some of them reported before the bell including blackrock, city and jpmorgan. run through them please. >> let's start with the biggest one, jpmorgan, made more money in sales than what wall street was anticipating. the profit was down, as banks are proxies to us growth. the rising rate environment, you have earnings being slowest in two years, expenses went up,

trading revenue went down and made money from releasing cash, emergency cash they set aside during covid which isn't part of their core business and that is why the biggest loser today especially with retail sales number. he wants to go through citigroup quickly, reported a drop in sales to end the year. expenses went up and that equation suggests margins are down. and shrieking footprints around the world selling asia business to exit latin america and one bright spot is wells fargo, the only bank that is higher after their earnings, profits doubling in the final quarter of last year. they release close to $900 million in emergency cash and wells is a catch up plan, still not allowed to grow their assets after the thank i can scandal five years ago in stock is definite compared to the rest of the sector. do we talk through blackrock? the world's largest apps manager, they have $10 trillion

in assets under management, that is a milestone for them. black rock made more money but sales were light, a jittery investing environment, if you miss slightly you get punished especially if you are priced to perfection. stuart: if i earlier the casino stocks and all of them, or most of them going up significantly. they pair their gains. >> i would include caesar's in the packet but it operates -- they are up 13% for sand right now. they are capping the number of casino licenses at 6. they will cut the tenure of the expiration of licenses half the time they do right now. all 6 of them, all of these names except for caesar's already have licenses in the world's biggest gaming enclave which will expire at the end of

the year. the licenses continue to have those licenses. stuart: if you restrict macau to six casino organizations, giving them a license to print money. that is the world's largest. >> even get into the sub licenses because it is complicated. stuart: you made the point they are up dramatically. the cryptos, bitcoin and ethereum down, like coin up. what is this about tesla accepting dogecoin. what about that? >> more usage, adoption is a big deal. dogecoin outgrowing the rest of the cryptos thanks to that, elon musk, murch is viable with dogecoin, up 15%, pairing back a little bit and not talking about cars here but collectibles like whistles,

belt buckles and child hpv. no refunds or cancellations. if you overpay with doge too bad for you because they will not send back any extra dogecoin, and did accept a bitcoin for their cars, elon musk reversing the decision. would contrast a for's clean energy mantra. stuart: show me disney. look at it down to 150 almost 3%. did they get another downgrade? >> guggenheim downgraded today saying it is only 165. not a lot of upside. they are coming back slower with the omicron spread and disney plus shelling out a lot more to get more streaming subscribers. disney is spending $8 billion this year, that's what they committed to disney plus content but they are outspent by netflix. roughly 14 to $16 million, hbo

max spending $18 billion to get the iphone. disney has 118 subscribers now but that is half the number netflix has. stuart: see you again shortly. the dow winners, united health is in there, visa, chevron. watch out for oil companies because it is back to $82 a barrel. s&p 500 winners headed by las vegas sands, no surprise after what we just heard and the nasdaq composite, there is not going to be any big tech winners on that list, certainly not. i see zoom on their again and a few chip companies on the best winning list for the nasdaq. as for the dow industrials, moments ago we were down 400, down 338, the best part. the 10 year treasury one.73%. the price of gold doing quite

well recently, 18, $19 per ounce. bitcoin, 42 grand, 42-3 to be precise, oil $82 a barrel or 83, 8280. watch out for higher gasoline prices coming. natural gas above the $4 level. do we have the average price of gasoline? it has gone up a little bit, 331, 331 on gasoline slightly higher, may be seeing more increases and gas buddy on the show later. $4 a gallon gasoline. president biden,. not inspiring speech on covid yesterday. >> president biden: i tapped -- i hope i pronounce it right, doctor tom inglesby, is that right? >> america has a problem. more on that in "my take" at the top of the 11:00 hour. no teaching degree, no problem. asking parents to ditch their day jobs and fill in as

substitute teachers. the novak djocovicz versus australia saga taking another turn this one, lost again, details after this.

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stuart: i don't know what happened but that was a remarkable turnaround. look at the nasdaq, down 100 a few minutes ago. now it is up 20. how about that? president biden wants to send free masks to all of us but there was mass confusion over which masks we should be wearing. stuart: and capital will -- capitol hill. basque confusion? >> there is because now it is not just about wearing a mask but about what type of mask you are wearing. president biden wants people to ditch the cloth masks they are wearing and instead upgrade to

a higher quality mask like a cayenne 95 or and 95 mask because they are more effective at filtering out germs and do a better job protecting people from covid. he is promising to send americans these higher-quality masks for free. global for some americans a mask is not always affordable or convenient to get. so next week we will announce how we are making high-quality masks available to american people for free. >> reporter: biden says he will dip into the stockpile of high-quality masks, 700 million. we stashed away, these masks don't last forever. generally the guidance is these and 95s are considered a daily use mask. if it gets wet or you drop it you need to wear a new one.

also questions where these masks are coming from. house lawmakers were given cayenne 95 masks to wear on the house floor but some lawmakers were shocked to see they weren't made in the usa, on the front of the mask it says made in china. there is always a question about the cost of this idea. sending masks to every american, cayenne 95, that is going to cost the government $1 billion a day. they are going to send everyone a cayenne 95 mask every day and these are daily use masks. sending one to every american will get them through one day of where. stuart: i've got it. let's turn to the vaccine mandate, the mandate that was upheld for healthcare workers at facilities which serve medicare and medicaid patients. doctor martycarrie joins me. are you okay with keeping the mandate for healthcare workers?

>> know. first of all, it doesn't define healthcare workers. includes somebody in the loading dock who works from home and this will create more staffing problems on top of the existing stacking problems hospitals and clinics have. hospitals are down 10% to 25% on staff and on average one in 5 people have left healthcare over the last two years for multiple reasons. when we talk about hospitals being on the brink and cindy military to help out that is because of an increase in patients from a normal viral season may be increased a little bit with omicron but more so because of the significant staffing delays and for hospitals who want to implement a mandate they should recognize natural in the unity, that's most of the unvaccinated healthcare workers. stuart: biden is another 500 million test kits and he wants k and 95 masks for everyone.

the policy seems to rest on masks and vaccines. is that a good policy to be using and imposing at this moment? >> there is a timing problem with these policies. that is that omicron is already in steep decline in the few areas of the country where it started first, the washington dc area, new york region and parts of the northeast. we may well be at low levels in 3 weeks, then you add to that a few weeks or months later, people getting a mask in the mail, they want to save it for future pandemic, it is too little too late and same with the vaccine mandate, the immunity take 4 to 6 weeks to kick in. and it is a manufactured crisis.

and it is not because we are testing athlete 3 times a week. >> australia canceled novak djocovicz's visa again. details please. >> he is detained australian time, he is unlikely to play in the australian open monday. he can appeal the immigration ministers decision to cancel his visa, and he's made the poster child of a vaccine mandate in a country with an unpopular prime minister and scott morrison and has these godlike powers and facing deportation usually for 3 years.

37 for three years. stuart: a draconian decision will be popular with the australian public. not sure it will be. he can't come back to more australian opens. >> file and the rules for thee, not for me. stuart: quickly to nike, they will fire and vaccinated workers. nike is pressing ahead despite the supreme court ruling against the vaccine mandate for businesses. lauren: that is the report, we don't know the number would be getting fired tomorrow. not sure how many of nike's workers are unvaccinated but we know over 100 vocally opposed to the job or jabs mandate. the supreme court's decision but then there is the issue of

kyree irving, he is paid by nike $11 million in sponsorship so it is not a double standard. of nike is requiring it staff, if you refuse the jab, you lose your job but still show support to an unvaccinated star player. stuart: it seems not right to fire someone for not taking a vaccine which does not protect you against omicron. that the contradiction i can't work out. that's the way i am. the song blood on your hands, criticized the president's withdrawal, after blowback reposted it, the lead singer of 5 for fighting joins me 11:00 hour, guess what he predicts $4 a gallon, i asked patrick theyhan when we will see $4 a

gallon. ♪ ♪ ♪ ♪ ♪ ♪ with chase security features, guidance and convenience, banking feels good. chase. make more of what's yours.

stuart: average pricing of gallon of gas going up slightly, $3.31, one dollar higher than it was a year ago. look who is here, frederick -- patrick dehahn of gas buddy. could we get to $4 a gallon by spring? >> we could go beyond that. we could set the non-adjusted record for gasoline if we clips $4.11 a gallon. we are seeing the needle move up 6 and a gallon from a couple weeks ago. we are starting to roll closer to that number. most of the pain will be in march, april and may. this is the calm before the storm and we are going. stuart: what is the problem? >> we continue to see unrest in catholic stan. that was on no one's radar and oil production taking a hit in war-torn libya where civil unrest continues and the problem is simply there's not enough production to meet increasing demand. stuart: do you guys cover or

analyze natural gas? i have noticed an uptick in the price recently and wondering if you have a forecast of much higher prices still to come. >> natural gas will start cooling off. inventories in the us look good. a lot of natural gas has been heading to europe to alleviate a natural gas crunch that has been developing here. natural gas prices 65% higher. i got my first natural gas bill 57% or one dollar, $100 a month higher. that is what household are facing, natural gas bills, 75 to $150 a month more than they were a year ago. stuart: energy price inflation written large. last word to you. >> hold on. it will be a bumpy year ahead. we may see $4. the light at the end of the tunnel, at the end of the year we can see the national average back closer to $3 a gallon. stuart: that is a long way away, thank you for being with us, see you again later.

on this program former secretary of state mike pompeo, house majority whip steve scalise, kayleigh mcenany and attorney general of the state of ohio david used. the 10:00 hour of varney is next. ♪♪ ♪♪ that you are in love with me ♪♪ ♪♪ it is on my mind ♪♪ girl,

♪ yeah, me -- ♪ singing i love rock and roll -- ♪ so put another dime in the jukebox, baby ♪♪ stuart: good morning, everyone. straight to the money, please. we've had a turn around. look at this. the dow industrials were down, what, 200? actually nearly 400, now we're down 154, and the nasdaq was down 100, now +70. big tech again opening lower across the board, now higher across the board. that's quite a turn around in a half an hour. the 10-year treasury yield holding right at 1.74%, up a little from where we were a half hour ago. and bitcoin, a half hour ago we were at 42 grand, now we're at 42,9. there you have it. here it comes, consumer sentiment numbers.

lauren, what you got? lauren: second lowest level in a decade. in january, so this captures the effect of omicron, the university of michigan consumer sentiment number fell to 68.8. again, that's the inflation story, that's the omicron story, and it's hitting consumers and how they spend their money and how they feel about it. stuart: no immediate response on the market. still got that turn around for the nasdaq. dow's down about 200. thanks very much, lauren. now this. the president has failed badly with his major initiatives. how did this happen? the rot started in the fist months of his -- first months of his administration. inexplicably, he went far,ring far left. he embraced bernie sanders, socialism and the squad. right from the get go he proposed radical measures to transform america. he went left, way left, in a center-right country. maybe he wanted to be another fdr. turns out he was just tone deaf.

when moderates within his party suggested he was reaching too far or wouldn't go that far with him, he just turned nasty. jen psaki launched a blistering attack on senator manchin. that's not how how you change minds. then, when build back better failed, biden shifted to voting reform, another priority of the far left. and, again, when challenged, he turned nasty. that speech in atlanta this week was divisive and insulting. you don't agree with me, you're a racist. even democrats were turned off. the policies were wrong, the president's approach was wrong, his cabinet got the border wrong, supply chain, wrong. covid, don't get me started. it was all driven by the left. the prime minister's first -- the president's first year in office is basically a failure. second hour of "varney" just getting started. ♪ ♪

stuart: tammy bruce is with me now this friday morning. all right, tammy. liberals melted down after senator sinema double down on supporting the filibuster. i think their fault. you don't follow a senator into a bathroom and harass her and expect her to change her mind. the liberals are going crazy this morning. >> well, they are. and it's also a warning here to conservatives. senator sinema is not a conservative. she is a liberal. but she's a liberal who's not the same. she's not a far left arist, and that is the war you -- leftist, and that is the war you mentioned, a war with itself. just like senator manchin, they know who brought them to the dance, and it is regular america. they're not, they're deciding no to the -- to not pander to the far left. now, some people are afraid of being attacked publicly by the far left, they're afraid of being called names by some of their favorite television hosts, and that affects some of the

decisions they're doing. but the reality is even the 2020 election was a rejection of the far left, right? that's why biden was elected. so it's very strange that you've got a president who clearly is being run by people who are completely out of touch with what's going on, not why he was elected and, clearly, the american people are saying they don't want what they're selling. and senator sinema, why she's so threatening, is because she's a reminder about who the average democrat is and what is really at stake here x they a don't like those reminders. stuart: what do you say to this, tammy? he should pivot, he ought to pivot but he can't because the left won't let him. >> that is correct. so that is the problem when you've got a presidency being run by committee. this is an individual who i think in the running up to being president there was a belief that the bureaucracy could handle everything, that he was not someone who could handle it.

and that is what, perhaps, there was this understanding. and now that is literally unfolding in front of us. this is a man, i've said from the beginning, stuart, on your show and elsewhere, there's no center of gravity in the white house. there's no leadership voice like trump's, right? you've got somebody who believes in policy, believes in what they want to accomplish and who can manage the craziness in the white house. stuart: yes. if donald trump was still the president, half the cabinet would have been fired twice over by now. [laughter] >> yes. stuart: biden hasn't fired anybody despite the abysmal performance. i think it's got something to do with this identity cabinet. how do you fire someone with that identity or that identity? how can he do that? >> well, see, that is the entire problem with the left in society. you look at what's happening in schools. that's the same problem. we've got ourselves stuck in a framework where people are afraid to do the right thing. as we're watching the volcano explode, there's a point where people have to say -- and parents have led the way in this

regard. parents have said enough is enough, they've not been afraid to confront school boards even with the doj saying you're with, you know, we're going to have to investigate you and arrest you. there's a lot of pressure, but parents are leading the way in this country saying the future matters too much for us to buckle down and to get back on our knees. stuart: tammy, you're looking far too happy this friday morning, but i do understand where you're coming from. >> yeah, it's important. it's important -- our own attitudes are important. and the fact is that when, you know, we know this nation is failing under biden, but we can bring her back. stuart: i think it's a major victory for america and a huge defeat for the left. >> i agree. stuart: tammy, have a great weekend, okay? see you next week. >> yeah. stuart: again, my opinion is the left just took a may jr. league defeat. -- major league defeat. david bahnsen joins us. i know he likes politics as well as the market. are you happy about this big league defeat for the left?

>> first of all, stuart, i don't like politics, i'm forced to do politics -- [laughter] it's in my blood. but i've done everything i can to change that, and i'm just stuck as a political junkie. this was a great day for the country, and that's actually not even an entirely political or partisan comment. the difficulties the left had yesterday, as you just got done saying, were self-induced. they were entirely avoidable. this mandate in particular that the supreme court struck down was the more obviously inappropriate measure. they knew the makeup of the court. and my theory here is that the greatest benefit is going to be for president biden not politically, but in terms of what was about to happen, the supreme court just kept from happening. stuart: yeah. >> the labor shortage problem now is monumental, it's leading to some of these price

escalations we're dealing with, and that a mandate coming into effect would have exacerbated that problem in a way the administration doesn't want to talk about at parties. stuart: yep. you know, you're popular on this program with our viewers because every week you bring dividend stocks, high paying, consistently high paying and growing dividends. you brought two companies with you today. glaxosmithkline. what's the yield and why do you like 'em? >> it's a 5% yield which is a notice if bl premium over most in the pharmaceutical space, and it's lately, by the way, gotten a nice little price jump. it had been kind of flatlining for some time, but they have a great r&d program meaning new drugs that will come on. this year they're spinning off their consumer products division which we think unlocks a lot of value. and it's a print smart --

there's some pretty smart hedge funder guys out there that are sort of activists engaged trying to create more value. we could see glaxo being much higher right now a rotation into some of these defensive names. we think that there's a lot of trouble ahead for the big tech and small tech rain nasdaq and kind of shiny object names and that rotation into some of these more defensive sectors, you want to own a utility. aep has a great 3.5% yield and really nice balance sheet to their company. stuart: david, microsoft is not a bright, shiny object we grasp at. >> no, it's not. and for years it was a value

stock. for years it was a dividend growth stock, but it's gotten very expensive, stuart, so it's just not in the same category. you're, of course, right. microsoft and apple i don't look at the same way we look at zoom and peloton and these names that are down 70% that nobody seems to want to talk about. stuart: i'm not selling microsoft at this point. >> well, with your capital gain, how could you? [laughter] stuart: well, it's in my pension fund, so i wouldn't pay the capital gains tax. >> well done, well done. stuart: david bahnsen, thank you very much. have a great weekend, okay? >> thanks, stuart. stuart: come on in, lauren, i want you to look at the movers including that one, devon energy, up 3%. lauren: yeah. a lot of them higher today. oil at one point hit 83, and it's on pace to finish at a 9-week high. gas prices came down a little bit for a little bit after the biden administration tapped the spr are, the emergency reserves, but it's headed back up. that was just a temporary measure, and it's going up even more as we heard from patrick

dehaan. changeing today is bj wholesale, they were downgraded at jpmorgan to underweight, removed from their focus list, and their price target was slashed to 60 from 78. why? food inflation and consumer stimulus is done. and finally, another loser here is walt disney. guggenheim cut them the neutral. they're worried about this 8 billion additional that they're spending on content and the fact that omicron has pushed down demand for their theme parks as a result ofen -- as a result. stuart: the streaming wars would mean that the streams have to shell out billions and billions of dollars, and they're not growing the number of participants that rapidly. jeff warned us about that. by the way,ing jack dorsey's block. i don't understand all of this, but i know you do, lauren. it's getting into crypto mining. so what? lauren: i'm looking at this kind of like do it yourself mining.

he -- this is what jack dorsey tweeted: we're officially building an open bitcoin mining system. so what that does is it opens it up for more people, it distributes it, it makes the mining equipment more accessible, it makes it cheaper, and it starts to build trust because more players have assetted to this whole idea of bitcoin. stuart: you know, yesterday we had that tesla car owner who was mining bitcoin using his tesla car. i was at a restaurant for lunch yesterday, and a guy came up to me and said, hey, what's the name of that app that he's using? what's the name of the program he's using in that's how much interest there is in bitcoin mining. lauren: and the entrepreneurial spirit that is america, right? people are always looking for new and cool ways -- stuart: absolutely. microsoft word going woke. a new feature points out offensive words and phrases. they say manpower, mankind,

offensive. and microsoft will change those words for you whether you like it or not if you operate on word. crime so out of control in new york city that drivers have been car jacked in broad candidate. how does the new -- broad daylight. how does the new mayor bring people back into our city with that going on? nato talks with russia end with no resolution on the ukraine crisis, and now russia's threatening to send troops to cuba? how should we respond to that? former secretary of state mike pompeo on the show next. what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

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>> what he's not doing is des calculate aring, martha, and we haven't seen the situation really come down to a level where we feel very comfortable. m we're watching this very, very

closely, we remain deeply concerned. we've not seen any move by the russians from a military perspective that they're willing to des calculate around ukraine. stuart: that was defense department spokesman john kirby. mike pompeo joins me now. russia's threating to send troops to to cuba and venezuela, and rockets probably fire by iranians at the u.s. embassy in baghdad. can we start with the threat to send russian troops to cuba? how should we respond to that? >> stuart, good morning. thanks for having me on the show. the mere fact that vladimir putin was willing to speak out loud about them -- the risk of them sending troops to cuba means they know how weak this administration is. we all know the history of bad guys on cuba, we know how that ended. i don't know that vladimir putin will be serious about that.

they've been playing around in venezuela with technicians and the like for a while, hoping cuban intelligence services as well, but to send armed troops there is fundamentally difficult, and the the administration has to make clear that there will be staggering costs tempossed on them. there has to be demonstrable will, and whether it was the debacle in afghanistan or whether it's what we've seen them do along the russian western border and virtually no response from the united states, closing down our pipeline, the colonial pipeline from russia for a few days, no response from an administration, just words, no deeds, that's dangerous and provocative, stuart. stuart: how about -- how do we respond to iran? we got this report of rockets fired at america's embassy in baghdad, probably by iranians. how do we respond? [laughter] >> i'll tell you this, i can tell you how you don't respond. you should not be sitting with the iranian leadership now

running that regime, the president of the country whos' killed thousands of his own people while they're flying rockets at american diplomats and american soldiers in iraq and saying, hey, can't we all just get along? we're happy to provide you with billions of dollars in financial relief so you can have more money to pay these what were almost certainly iranian proxy milling shahs in iraq that fired the weapons, probably iranian weapons. we're sitting with them in vienna saying, hey, listen, can't we all just get along? the iranians respect power. they understand how power is applied. it's not about sending thousands of american soldiers. we have so many more tools available. those are the kinds of things we should make clear we're going to execute, and if we don't, we'll sue more trouble, and eventually one of those rockets will land at an embassy or one of these russian soldiers will come across and hurt something and take something that americans care deeply about here at home. stuart: the web site of the

arabian ayatollah publishedded an -- iranian ayatollah published a video that shows former president trump being killed in a drone strike. jen cac city was -- jen psaki was asked about the video and didn't condemn it. what's your reaction? >> we've seen iranians threaten president trump, we say the head of the quds force threaten me and president trump. they've come after people here many america. we saw that action that they took here on the ground in the united states. we know they tried to kill the saudi ambassador in georgetown a few years back. these are nasty people, nation-state actors. every administration has a responsibility to protect every american -- stuart: but should -- >> what jake sullivan did the other day, continue to make clear it's unacceptable. stuart: is it time to do something? if cut off the nord stream 2 pipeline or something like that? take actual action that's obvious to all? [laughter] >> stuart, that's what i was

talking about, words versus deeds. no, actual action is the thing that one has to do. they lobbied against -- senator cruz had a bill on capitol hill, and the administration told democrats in the senate, don't vote for that. a few of them voted for it anyway, but, no, we haven't seen demonstrable action by this administration that really imposes costs on the iranians or the russians. indeed, what we've seen is further appeasement. we know the path this leads down. reagan understood peace through strength. we did in the trump administration too. i hope these folks will get the right end of the stick. stuart: very dangerous situation. mr. secretary, thank you very much for joining us this morning. >> thank you, stuart. so long, sir. stuart: yes, sir. one school has come up with a solution to the teacher shortage, use parents. we'll tell you where that's happening. president biden says he will buy a half billion more covid tests, but his original order for 500 million has yet to be shipped. congressman steve scalise wants some answers. he's calling for an investigation into the president's covid response. congressman scalise joins me

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stuart: well, look at this. the dow is now down 286, but the nasdaq has really turned around. now it is up 7 points. a lot of volatility on the market today. how about big tech? most of them are higher, but america -- i'm sorry, amazon has dropped just a little. apple, 172. alphabet -- microsoft now 307. by the way, microsoft word is going woke. lauren, you've got to explain this to me. that purpose billion line that appears when you spell -- purposing line that appears when you spell a word incorrectly, can you give me a list of of offensive words? lauren: i sure can. okay. let's put pull up the full screen. let's say you're saying what neil armstrong did, one giant step forward for mankind, their going to put a purple line under mankind and suggest you use humankind instead. postman becomes mail carrier. maid, house cleaner.

master, expert. show girl, performing artist. 250 million users can see this. although you can opt out. word has gone woke. i mean, this is the power of technology to transform society. gee, thanks for the ability to opt out, but i've got to figure out how to do that, and i'm already subjected to how this is happening. but i remember back in the day every time i spelled something wrong, you got that red line. and i, as a kid, as a teenager in school, i remember learning from my mistakes. oh, they told me i spelled that wrong, therefore, let me correct it. and this is now doing that with these politically correct -- for things that, you know, might not be offensive to so many people. stuart: exactly. but what gets me is how do you opt out? i can guarantee you that a non-techie person like myself would never figure out allowed too it. never. i'd just stop using word. [laughter] all right, lauren.

let's move on. president biden announced the government is purchasing a half billion more rapid covid tests. that's on top of the 500 million already purchased. grady trimble in chicago. the tests still haven't been sheped. are the shortages -- shipped. are the shortages leading to fake testing sites? >> reporter: they are, stu. several government agencies warn scammers are preying on people desperate for tests in order to try to get personal details like insurance and id information. finish and these pop-up testing sites across the country in many cases are unregular regulated and lice licensed. one company called the center for covid control operates more than 300 sites across the u.s. according to their web site, but they also have an f rating with the bbb and are under investigation in several states. they received complaint about not receiving results from tests, bad customer service and that some locations are asking for that id info. the company says its problems

are because of rapid growth and high demand for testing. they told us they were temporarily closing all of their operations across the country starting today for the next week, but this is the center for covid control location, and they are open right now. here's a statement from the company. they say we've made this difficult decision to temporarily pause all operations until we are confident that all collection sites are meeting our high standards for quality. but, again, the site we're at is open right now. the illinois attorney general is one of those organizations looking into these testing sites, and they say the best way is to go to astronaut-run testing sites -- state-run testing sites. but there's several questions you should ask to make sure you're not getting scanned. what test does the site administer, what type of personal info do that i need, are there any out of pocket fees or charges associated with getting tested. but, stu, this shows how hard it

is to find tests when people are turning to these third parties for tests and in some cases getting scammed. stuart: got it. grady trimmen, thanks very much, indeed. look who's here now, house minority whip steve scalise, welcome guest on the program always. congressman, why do you want to investigate biden's covid policy? >> well, stuart, great to be with you in this new year. look, there have been so many failures by president biden as it relates to covid. he campaigned saying, pledging he was going to shut down the virus. those were his words. he walk in, took the oath of office and inherited three different approved vaccines. president trump's operation warp speed created those vaccines. president biden's done nothing to enhance therapeutics, to look into things like what is natural immunity, how much does that benefit people. they're back to mandates again. he just got slammed yesterday by the supreme court because his plan, if you want to call it that, is unconstitutional, and

it doesn't involve helping families and helping things get back to open. stuart, he was presented with a plan, at least there are reports that say this, in october to ramp up testing. and as you just reported, people are looking for testing kits, they're waiting in lines for hours and hours at a time. in october he was told more than likely at christmas there will be another outbreak, we should order 750 million tests, and president biden turned that plan down. what i've said is we need to have a hearing to find out, first of all, did this happen? the white house has been radio silent on it. but who was involved in that decision? who made the can decision to not order that that test? those people should be fired. he's trying to hire our health care workers. herb be firing the incompetent people in his administration. president biden has failed us on covid on every front, and they won't have hearings on any of this stuff. i'm going to keep pushing for it and, frankly, i think the public

wants to find out more information. stuart: letter turn to another failure, education. you say that the teachers unions can't have it both ways. either open the schools or give back the billions that they were given. do we know, actually, where all that money -- tens, if not over $100 billion, do we know where it went? >> we don't, and it would be an important question to ask. i've surely asked that question. you look at school systems like chicago where the union bosses took over $2 billion of taxpayer money, and it was designed so that they could open up the schools and get the kids back in the class room, and they said, no, we're going to keep the money but shut down the schools again. all the science says the kids ought to be back in school. the data, by the way, shows kids aren't learning at the same level if they're not in the classroom, and yet they took billions of dollars and shut the schools down. president biden won't stand up to the union because he's owned by the union bosses. in fact, it was his white house who manipulated a scientific report because the union said, wait a minute, it might show

that we should be back in school, and the white house changed it to bow to the union bosses. you've got to pick a side. you're going to be with the kids or the union bosses. unfortunately, president biden has chosen the union bosses over our kids. and people are fed up with that. you saw it in virginia where people said i want to be involved in my kids' education, and parents deserve to, but they're really, really angry right now that those unions took the money and are keeping their kids off the schools. stuart: congressman, before we close, may i ask you if you are well? >> i'm doing really well. had physical therapy again yesterday. they keep working me, and i'm getting better all the time. i want to be running, you know, running the bases in baseball next year but not quite there yet. stuart: god bless you. thanks very much for being on the show. see you again soon. >> good to be with you. stuart: all right. one school in texas thinks they the found a solution to the teacher short an. they're bringing in parents. tell me more, lauren. lauren: they are. the parents are going to be the substitute teachers in a district of 20,000 students

right outside of austin. i mean, the argument for the parent guest teachers, as they're called, is that they're trusted, they care about their kids, they care about the schools, and it's definitely better than going remote. they have a teacher shortage especially amid omicron. but there's such a frost ifty relationship right now between parents and teachers because of the curriculum and everything going on, i wonder how this goes oaf. [laughter] stuart: good question and i don't know how to answer it either. i've got this for you, we've got a new report, and it says the american teachers federation -- that's randi weingarten's union, it has increased its political spending. by how much? lauren lauren so this comes from the government accountability institute, and the answer is by 400% since 2008. in dollar terms in 2020, nearly $20 million. and where did that go? almost exclusively to democrats. i'm not surprised by that, but i am surprised by this: if you look at the resolutions that the

unions have published, it's all about education justice, social justice, black lives matter, lgbtq, daca, it's this radical rethinking of education and society as an extension of that. and that's why when you go around, there's a different feeling out there. everyone's trying to be more inclusive, but we became more divisive as a result. and i guess with covid and the kids working from home it was a wake-up call for so many families what was going on in schools. stuart: parents may well be the next demographic block to be bigtime operatives in american elections -- lauren: it's already started. stuart: yeah, for example -- lauren lauren in chicago there's a parents' organization that just started a few weeks ago, and their whole goal is to be a collective that can speak for the kids because they can't trust the district or the unions to do that. stuart: the real answer, in my mind, is deunionize public education in america. that could be done by executive

action of the chief executive, that would be the president. we'll see if that works. lauren: maybe in '24. stuart: maybe. if you get a republican president in '24 and the parents are demanding action in the schools, deunionize. it might happen. i've seen calls for it in the media. all right, moving on. governor gavin newsome trying to lure people back to his state. a report on that. republicans got a big win after the supreme court blocked president biden's vaccine mandate on business, so are more lawsuits coming? reining in the administrationsome i'll ask ohio's attorney general next. ♪ all i do is win,s win,s win,s no matter what. ♪ got money on my mind, i can never get enough. ♪ and every time i step -- ♪ everybody's hands go up and they stay there, and they stay there ♪♪

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♪ stuart: the state of play on the

market, now it's all red ink. okay, down 284 for the dow industrials, down 26 for the nasdaq. s&p is down 20. red ink all over the place. look at goldman sachs and jpmorgan. they're dow stocks, both way, way down. put them together, and they're shaving 100 points off the dow industrial. the supreme court blocks president biden's vaccine mandate for private businesses. edward lawrence at the white house. edward, what does that mean for the jobs outlook? >> reporter: yeah. you know, and that that's an interesting question. you know, some of these companies are applauding that decision as well as industry groups. but the white house here, they're pushing that off a little bit. the president now pivoting and directly pressuring companies to put in their own individual vaccine mandates. some companies have shelfed their vaccine mandates which could keep workers on, but citigroup is going forward with theirs, saying that they will fire any unvaccinated worker on january 31st. they must show proof of vaccination today to aside that

pink slip. in a statement, our goal so to keep everyone at citi, and we sincerely hope all of our colleagues come life. one of the attorney generals who brought this lawsuit all the way to the supreme court says this is a power grabby -- grab by president joe biden. >> i was so elated to hear about decision, and we'll continue to fight. look, this isn't the end. you're going to see more mandates, more attempts by this administration to encroach upon states, to obliterate the separation of powers. and you have to have people willing to fight and stand up, and we'll continue to do that. >> reporter: the national retail federation saying osha clearly exceeded its authority adding that it's a significant victory for employers. and in a separate decision, the supreme court allowed the vaccine mandate to go forward for health care workers at facilities that received federal money, the white house saying it will aggressively pursue that

mandate. and as you know, the mayo clinic has already let go of 700 employees related to that. stuart: david yoest joins me now, attorney general of the state of ohio. mr. attorney general, thanks for being on the show morning, we really appreciate it. >> thank you for inviting me. stuart: the business mandate, a no. yes, it's okay for the health care mandate. do those two decisions pass constitutional muster, in your opinion? >> well, it is the supreme court. but we were actually on the other side of the cms mandate, the health care worker mandate, and agreed with the minority in that 5-4 decision that the agency had exceeded the power that congress gave it. stuart: what about the health care workers? the mandate stands with them. is that okay with you? >> it's not okay. and on that case, we were on the other side with the minority.

we think that all four of the biden vaccine mandates have the same failing, executive overreach. look, it's a fundamental principle of democracy that the guy that enforces the law doesn't get to write it as well. stuart: i was surprised to hear two or three -- i think it was just two supreme court justices -- arguing in favor of the policy. it occurs to me that that's not what justices are supposed to do. it's not whether you're for or against a policy, it's whether it fits the constitution. i'm sure that occurred to you, you were right there. >> yes. and i've said many, many times this is not a case about vaccines. in fact, i'm vaccinated and boosted and encourage people to consider doing that. but this is a question about, as justice kavanaugh said, who

decides? and the supreme court, at least in one case, said it's not the president. and we believe that this is properly with the elected representatives of the people, not with the executive branch. a clear case of overreach. stuart: are you planning to file any more lawsuits to rein in ad managers? administration? >> well, this is only latest in many that ohio has filed, and it appears that he has taken president obama's pen and phone executive order regime to a new level. unless they start listening to the supreme court about the limits of their power, you can bet there's going to be more lawsuits and, i think, more adverse decisions by the supreme court. stuart: mr. attorney general, thank you very much, indeed, for being with us and explaining things to us who are not legallestic. thanks for being here, sir. appreciate it always. >> thank you.

stuart: now this: the supreme court justices took a jab at white house chief of staff ron klain in their vaccine mandate ruling. what did they say, lauren? lauren: uh-huh. it was neil gorsuch, and he directly cited ron klain's retweet of msnbc anchor's tweet back in september saying osha doing this vaccine mandate as an emergency workplace safety rule is the ultimate work-around for the federal government to require vaccination. that was considered proof that the white house lacks constitutional authority and congressional approval. so they tried to use the emergency temporary standard to circumvent both of those things, and with that regulate public health, and it didn't work. stuart: i'm intrigued about how many remote workers would actually go back to work if they had to. i think we've got a new poll, and it shows how many would quit if they were require requiredded to go back to the office. how many are we talking about,

lauren? lauren: 55%, according to morning consult, said if you're going to make me go back to the office because i've been home for two years, i might find another job altogether. that's about right. you ask a lot of people, and they like working from home. but there's a problem. if you look at manhattan, right? 8% of offices are staffed with employees working five days a week. you can't run a city with 92% of the workers not there, right? at home in other states, not, you know, buying lunch at the cafés. stuart: but it really shows you the impact of the pandemic, working from home, which is now going to be a feature of our society and our economy no matter what. that's not going to go away. i think it might increase, actually. thanks very much, lauren. now this. the world's first -- wait for it is open. you can't just make a reservation, you have to own crypto. we'll try to exchange plain what an nfl restaurant is. what do they serve? austin doesn't seem like a

texas city. lots of covid restrictions. i wonder if those restrictions might be lifted after the supreme court struck down the mandates? i will ask an austin city council member next. ♪ ♪ tonight i gotta cut loose, footloose ♪♪

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stuart: austin, in texas, has tighter covid restrictions than any other city in texas. hook who's here, city council member, republican, mckenzie kelly. mckenzie, will you lighten up these restrictions given the supreme court's decision and make austin look a bit more like other cities in texas? >> in spite of the supreme court decision that was made, i believe that texans need to rely fully on the leadership of our governor, greg abbott, to insure that we're not put in a place where we can't go about our business and be free like we should be in the great state of texas. stuart: you've got some more restriction just came down the pike, didn't you, in austin? are they going to stand despite the supreme court's decision? why are you doing this? >> i'm not doing anything -- [laughter] these are orders that our mayor

decides along with our county judge to put forward so that businesses could show to everybody else that they are helping their employees to keep them safe from covid. now, what i will tell you is that our mayor said that this was his way of letting government get out of the way of businesses. but i would say to the mayor that he needs to take a look at what that means in the dictionary because he's putting more restrictions with a possible $1,000 fine on onto the shoulders of these business owners, and that's not right. stuart: you're a very successful city. you've brought in all kinds of tech leaders like elon musk, for example. how do you make sure all those newcomers don't screw up austin like they screwed up the places they came from? excuse my language. >> well, we have to look at what makes texas a great place. we have a great economy, we have great prosperity here, it's a great place to raise your children. what we need to do is make sure that in our next election cycle we elect people who truly represent the values of our city

and our country and our state as a whole so so that we don't end up like california. stuart: any sign that the people of austin are beginning to tire of some of the restrictions placed upon them and some of the, i don't know how to describe it, but some of the leftist element in austin? are the people getting tired of it yet? >> i think there's a lot of apathy out there. people are definitely tired of being told what to do. i spoke with a couple last night who say they have no intention of doing this in their business, and if they're going to get a fine, that they will fight it. because it goes against the governor's general order that he put out relating to covid restrictions. and as you know, the governor's order supersedes anything that the city or the county might impose on businesses or individuals. stuart: you've got to keep texas, and you've got to put austin more firmly in texas. just a personal opinion, mckenzie. thanks very much for coming by, we appreciate it. good to see a republican in austin, and that's a fact.

thanks very much. ah, look what we have for you coming up shortly. caylee mcenaney, florida congressman byron donalds, the lead singer of five for fighting. thursday -- well, that was the worst day for the president in his first year in office. it capped a terrible year. waiting in the wings, vice president hearst who's also -- harris who's also had a bad day, a bad week and a terrible year. that's my take, and it's next. ♪ ♪ and it's easy to get a quote at libertymutual.com so you only pay for what you need. isn't that right limu? limu? sorry, one sec. doug blows a whistle. [a vulture squawks.] oh boy. only pay for what you need. ♪liberty, liberty, liberty, liberty♪ ..

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as me may be at extremely low levels and three weeks. his policies are too late and the testing problem is a manufactured crisis. we can't be chasing a covid 0 strategy by testing athletes 3 times a week. >> on every level biden has failed. i'm not feeling bad for him. the american people are losing under president biden and that is why he is struggling. >> what he is doing is causing his members to walk the plank on all of this radical leftist agenda. >> the american people are saying they don't want that they are saying. >> the realities the world is

changing faster than the market expected. this is very different from the conversation was a month ago. ♪♪ stuart: 11:00 eastern time, friday january 14th. straight to the markets. here is what is happening to your money. we are down across the board, the biggest losses for dow industrials, goldman and jpmorgan are down sharply accounting for a big chunk of the dow's loss of 244 points. the tenure treasury yield has gone up to one.75% killing a rally in big tech and on the nasdaq. look at big tech now. didn't kill it entirely. they are up across the board but not as much as they were. now this.

thursday was the worst day for the president in his first year in office, it the terrible week. it the terrible first year. on the left-hand side of the screen, in the middle of the screen we will scroll through the failures. it is a long list from covid to inflation, border to build back better, voting rights, failure after failure. there is no joy in this was americans want their president to succeed. we don't want to socialism but we want a competent administration that governs the country and gains our confidence. do we have confidence that this president can run the country? you better take a look at this. >> president biden: i don't like -- there are a lot and we will continue to work with retailers and online retailers and to help the federal testing program. i have tapped doctor tom -- i hope i pronounce it right. inglesby. is that right?

stuart: i don't like to say this but the president is not equipped to get things done. waiting in the wings vice president harris who has had a bad week, bad day and terrible year. has she been to the border, no, and i haven't been to europe either. that was a cringe worthy response about the border. inappropriate giggles as afghanistan turned murderers the frequent factual mistakes, staffers leaving in droves and when asked if she would be on the ticket in 2024 no answer. and aging failing president and a vice president who inspires 0 confidence. three more years. the third hour of varney just getting started. kayleigh mcenany joined me now. i need you bad. can the biden team. and change course? >> reporter: it seems highly

unlikely. there was a moment after afghanistan which was a stain on our conscience of the american people that i thought, others were saying he would pivot to domestic legislation and be sure up some victories there. that didn't happen. into the hell 3 times and all 3 times failed to get democrats to come on board with his legislation. then he has chosen to pivot to divisive and, division about federalizing elections, if you oppose this legislation your segregationist, that was criticized by dick durbin and others in his own party. i don't think he can dividend as we come to heresy steve holland at reuters reporting russia could launch an invasion in of ukraine according to a us official told him that intelligence was showing was i point that out to say a lot on the foreign-policy horizon, domestically not doing well, don't think he can pivot. stuart: is there any way the democrat party could come

together again? at the moment the left is outraged, what has happened with voting rights and build back better. any possible way they can come back together and salvage something for 2022? >> i do not see it. you have kristen sinema, the president of the united states is coming to capitol hill to coerce you and joe manchin to come on board and have a car out in the filibuster and she takes to the floor of the senate and essentially shreds the idea to pieces. the moderate doesn't seem to respect him and as we move forward, build back better, you hear a lot of longest from aoc in the far left wing of the party. xe is said today very few presidents don't have republicans or the left wing of their party, that is the

checkerboard and seems to be president biden looking at. stuart: repeat what you said, the report that russia may invaded ukraine january or february. that is news to me and i see the market taking a look to the south right after the news came out repeatedly. >> fox is not independently verified but reputable publication put out a tweet that said us official, russia could invade in mid-january, ukraine. short piece of information put out by reuters, steve holland, a journalist i know to be credible. >> a dangerous situation. extraordinary pressure on a week president from overseas from the russians. a dangerous moment. last word to you.

>> it is dangerous. when president biden had a conversation with vladimir putin recently after the first conversation in the fall russia actually added more troops to the border of ukraine, president biden has given a stern warning to him, i hope that intelligence isn't true. that's an alarming prospect we would be looking at. stuart: thanks for joining us. we will be watching you on outnumbered. i sometimes call that show ambushed at 12:00 noon eastern and you will be on it and we will be watching. thanks a lot. i want to check the banks, put them on screen, banks are in big lost territories this morning. morgan stanley is down 2.5% and look at jpmorgan down 5%. why do you say the banks and financials generally are the strongest group? make your case?

>> great to be with you but the market moves in trends that tends to persist over time and for the last couple weeks if not more banks have almost looked like the tech stocks of your. why? the bank robert who said why does he rub banks? that's where the money is and that's where the money is these days. globally banks are strong since they are benefiting from higher interest rates that have been going on and are likely to go on for net interest margins. banks to me look like new growth stocks, doesn't mean you should go all in but if you are looking for new ways to make money in a rising rate environment, and inflationary environment financials are the way to go. >> why do you say inflation needs to be forcibly removed? that's your word. how do you forcibly remove inflation? >> inflation is like the weather.

it doesn't just pass and fly away. it has to be forcibly removed because it is created by government. think back to history, gerald ford famously inherited 9% inflation not far from where we are today and he and his words drew the line on government spending. he has to cut taxes as well. that's my fear, the we will continue to see inflation in his country roar because biden talking about cutting spending, certainly not biden talking about cutting taxes. that's the only cure democrats are not pursuing at all and that is where inflation continues just as it did in the 1970s, didn't peak until the 1980s. that the big trends moving forward not just for weeks but used to come. stuart: do you think president biden is next jimmy carter? >> funny you say that. ironically jimmy carter did a lot of good things, jimmy carter famously deregulated huge swaths of the economy. that was a positive.

even airline tickets were very expensive. if he follows the jimmy carter model, not doing that at all i wouldn't say he's following the marxist model, going in the direction of more government control, more spending, more utilization, never been good for any economy. that's my fear about growth stocks in particular, still very pricey and inflation, not just a tax on americans but a tax on the future. how can we make plans, 10, 30, 40 years out for investment when we don't know what inflation is going to be like 6 months down the road. stuart: getting us nervous before the weekend, you shouldn't do that. >> don't blame the messenger. stuart: you have the movers and started with united airlines down 3%. why? lauren: why? because oil prices are back up but this is news on united airlines, boosting their staff

at airports, 96% of them have already gotten two doses and we know 3000 respect with covert over the holidays and the reopening trade despite the stock market selling off yesterday was strong so united is giving back those gains today. just talking about the banks with -- i'm blanking. jonathan koenig. how do i forget that? senior moment at jpmorgan's profits fell and trading revenue fell, consumer banks fell and costs rose, they spent 77 billion additional dollars this year because of inflation. a large part of that worker attention, stocks down 5% and the casinos up in a big way. take a look. wind resorts, las vegas, sans all of them high because the news is they plan to renew 6 casino licenses that will carry a term of 10 years. the expectation is going

forward china relaxes covid restrictions and they tried to get back to pre-pandemic levels. stuart: there restricting it to 6 casino licenses. when you restrict it to six you are giving them a license to print money. that's why stocks are up so much. dramatic video, driver carjacked in broad daylight in the middle of new york city. look at that. we've got the full story and we will tell you what it means for the city as well. we talk about the california exodus. the governor, newsom, is responding with new programs trying to get people to stay. kelly oh grady has the report from los angeles, the president turned the voting will fight into a civil rights issue. role tape. >> president biden: like every other major civil rights bill that came along, if we miss the first time we can come back and try it a second time. we missed this time.

stuart: is it a civil rights issue? congressman byron donald takes that on next. ♪♪ between a rock and a hard place ♪♪ ♪ ♪

and there you have it. woah.

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>> 3, 2, one, 0, ignition, and lift off. stuart: there you go, go blasting off from cape canaveral, florida thursday, launched the 105 satellite into space for several different companies. 105 in one go. 9 minutes later after the rocket took off it successfully

touched down on earth. a big fail for president biden, the reform is essentially on life support. senator manchin and christensen will not budge. and byron donald from florida joined me now. was that biden voting reform bill a civil rights bill? >> when it comes to voting rights voting rights are always a civil rights issue but that bill is not about civil rights. it is about politics. it's important for everyone to understand that the elements of the 1965 voting rights act are still enforced today. the only portion that is not enforced his preclearance and preclearance is not enforced anymore because there's been no statistical data for the last 30 years in the united states of systematic dissemination against black voters and people who feel that way should bring a federal lawsuit because they can still do that under the provisions of the 1965 voting rights act.

stuart: i don't understand why you cannot be told to bring id when you vote. you have to have id to get in the building or on a plane or have just about everything so why not voting? i don't understand that. >> i will add one to it. in washington dc as of tomorrow you got to bring a vaccination card and id to any establishment. the democrats always go to voting rights as a way to shore up their base. the reason they are doing this so early is president biden has failed on every measure. he's pulling a 33% even among democrats, 75% approve of what they are doing. that's terrible for people in your own party. he has failed. he has nowhere else to go. stuart: i want to get back to this id thing. if you demand id to vote does

that suppress the vote as some several lights -- civil rights leaders say those? >> it does not ids are so prevalent, virtually everybody has them in every jurisdiction that requires voter id to vote if you can't afford it, they will give it to you for free so that is simply not true, and argument they would like to use and furthermore democrats are starting to shift off of that argument because polling among black voters is demonstrated black voters support voter id. democrats are slowly moving away from that argument. stuart: condescending to suggest black folks can't produce id like everybody else. that is condescending. >> it is which is why if you look at what they are trying to do it is a radical takeover to keep them in power. it's not about voting rights for the american people are

black voters in particular. stuart: any need to reform voting procedures in florida? >> we have the best laws in the country. we've proven to everybody time and again how to get this done and it took 20 years to get here but we are there now. stuart: always good talking to you. you come from florida, you love florida, so do i. byron donaldson, thanks for being with us as always. iou that lunch and i promise to pay you. see you later. >> we are gog to do that. stuart: i will do it and i am paying. what a guy. see you later, congressman. we told you about california residents and businesses fleeing to low tax red states, governor newsom is looking at new ways to make people stay and maybe lure people back as well. kelly oh grady in los angeles, what is the governor doing to keep people there or bring them back? >> creating housing incentives, considering tax cuts but there's a proposal on the table that would cause california tax revenue to double so all

together residents paying more, it was already a problem before the pandemic but since then the number of residents leaving california has increased by 12%. they are fleeing for a number of reasons, crime has skyrocketed with property crime rising 7% last year, homicides increasing as much as 17% in oakland and it is expensive to live in the golden state, california has the highest gas prices in the nation at $4.65, $0.30 higher than any other state. california is not only dealing with soaring housing prices but a multimillion unit shortage which is a big contributor to the homeless crisis. one of newsom's incentives includes $2 billion over two years and tax credits to encourage housing develop and urban areas and also floated pausing and expected 5.6% increase in the gas tax that would save families $523 million this year. to be clear that wouldn't reduce payment at the pump, it will prevent it from getting any worse so other initiatives

in the governor to stop oil drilling in certain areas could see gas prices increase and yet i mention the new initiative on the table that would negate all these monetary incentives. the proposal would create the first in the nation single-payer health care system and nearly double california's current tax revenue costing taxpayers $163 billion. tax experts worry that would drive more people from the state from a cost perspective and because it helps air quality concerns. overall it does appear california officials are waking up to some of their policies driving this population exodus but these particular initiatives don't reduce taxes, don't reduce prices at the pump and when you have tech companies leaving left and right for more business really states like texas this migration could continue in earnest. stuart: we take the point. change the subject. look at tesla. they are delaying the initial production of highly anticipated cybertruck hasn't hurt the stock at all. it is up in a generally downmarket. they start rolling out the truck at the end of the first quarter in 2023.

that is what it looks like. kind of unusual. there is this too. elon musk says tesla will now allow dogecoin as payment for merchandise. the items you can buy with doge include the giga texas belt buckle and many models of the electric vehicles. he loves those headlines, doesn't he? show me british petroleum, bp, their electric vehicle chargers could be profitable, more profitable than gas pumps. they say that could be happening by 2025. bp's fast battery charging points can replenish a battery within minutes. the price of gasoline edging up, beginning to edge higher, $3.31 per gallon. gas buddy says it will be $4 a gallon by spring. a new restaurant is opening in new york city, you have to own crypto to get a reservation. it is an nft restaurant. what is that? i don't understand. lauren does and she will explain.

8% of manhattan's 1 million office workers have returned to the office full-time, that is five days a week. how do we get the rest of them back full-time? we will ask the guy who is working on the plan next. ♪♪ baby come back ♪♪ baby come back ♪♪ baby come back ♪♪ ♪♪ trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze driftin' on by... ♪ if you've been playing down your copd,... ♪ it's a new dawn, it's a new day,... ♪ ...it's time to make a stand. start a new day with trelegy. ♪...and i'm feelin' good. ♪ no once-daily copd medicine... has the power to treat copd in as many ways as trelegy.

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stuart: san francisco, a beautiful shot of the golden gate bridge. i used to drive across every single day back in the 1970s, 47 degrees right there right now. check. down is down 300 points. you your coverage of the movers with microsoft please. >> with stuart varney owning a thin sliver of the stock, microsoft, where up one% a few minutes ago and this is important because microsoft has dipped into what we call

correction territory meaning it is down 10% from the peaks we signed the fall coming in the autumn time but softy is a market bellwether meaning it's action is indicative of wall street sentiment. that rallies on a friday heading into a holiday on monday that is a positive for stock market and stan ives at wedbush. stuart: what does that mean? >> the nickname for microsoft. softy. stuart: i never heard that before. none of them have ever heard of softy before from microsoft. keep going. >> stock market participants, that's fine. vaccine makers moderna and pfizer were down today after the supreme court blockage of the biden administration's vaccine mandate supporting big

businesses to require vaccines for more testing. moderna went to 100 this morning and boston beer, boston beer is being heard by supply-chain problems, higher prices which is coming into the margins so they are victim of inflation and waning demand for their truly hard seltzer brand, the hard seltzer might be out of vogue these days. stuart: looks like it. thanks very much indeed. new york city's new mayor eric adams as his city cannot run while businesses continue to work remotely. role tape. >> we want to make sure we open our workplaces. time to get back to work. it is time to open the city. we cannot run a city as complex as new york remotely. we want to encourage businesses to open in a safe way, one of

the best ways to do it is to get vaccinated and booster shots, that is imperative. stuart: the chairman of 4 equities is working with mayor adams on his economic and workforce development committee and joined me now. with your proposal to get workers back to the office? >> everything eric adams is working towards which i hate to say it, basically do the opposite of everything the prior administration is done. beforehand it was defund the police, now it is refund the police, increased security. before it was bail reform, now it is get tougher, turn away businesses like amazon, now being an ambassador to businesses. before come up with the homeless on the streets, now go down to the subways, get the homeless out and put them someplace they can lives and

become for double. not on the streets and on and on. stuart: the one thing he has not done his reverse these mandates. you got to get vaccinated if you want to go into the office buildings of new york. is not reversed the mandate. that keeps people out of the office. >> is the middle-of-the-road guy. that election we just passed was really an election for the future of the democratic party and the whole united states and where we could have gone would have been so dangerous to new york city. him winning that battle will turn the way not just for new york but the rest of the cities of the united states to wake up to some of these talking security part one. part 2 is omicron, people do realize more and more, 0 omicron policy won't work. china and japan, reminds me of

the world war the movie where israel is the country, they get all the dates. like bill gates said recently, covid has become endemic and we have to accept it. stuart: lift the mandates, but the mandates. why are you firing people if they don't get a vaccine which does not protect against omicron? >> in time, one of the most interesting scientific facts came out only a day ago which is within 10 seconds omicron disappears from the air which means as long as you sit a little bit of the distance away from people and have halfway decent air-conditioning it will probably not get out so i think people are going to go there and this administration is still trying to be a little extra cautious until they find their way and learn the science which they are only in there for a few days.

stuart: only time will tell if that works out. thanks for being with us. we are all in this together. i would love to see new york city come back strong because i love this city but i don't see it happening just yet. >> it is going to. iran 8 years in the southeast and i am ahead of the curve. new york is going to get its shot. stuart: we hope you are right. thanks for joining us, good to see you again. still on new york, mayor adams apparently ate bitcoin enthusiast. what is he doing? >> my first 3 paychecks, he is a supporter but there is a major problem called the bit license, it is draconian. basically companies have to pay sometimes 100,$000 to get up and running for the crypto currency in new york. that's not feasible. the application is 30 pages,

costs $5,000, you have to show 7 years of finances. no other state has this. mayor adams might support crypto currencies but is he going to pull back any regulations or pile on any new tax rates? we have to see. when i think of new york i also think of wall street and crypto and wall street go together as you move forward. that your financial base and crypto is part of that. stuart: all these impediments the crypto market place in new york, you have a problem with cryptos in new york. teasing the story all morning, it is an nft restaurant. i don't get it, i don't know how it works. i think you do. help me understand. >> have you heard of the solo house, the members only club in new york and other cities? it is like that, called fly fish club. it doesn't open until next year. it is in new york city. you do it on the block chain as

an nft. there are two types of memberships. the cheapest is $8,500. a lot of money but you get into the experience but one time they open it up for culinary and social experiences forever should you choose and you can bring friends. don't have to have a membership they paid for. this is the thing that boggles my mind. you pay your bill in cash. i you could use a credit card but if you're going all in make them pay in crypto too. stuart: you pay your fee in crypto, that gives you an nft, your membership of this club, you use that nft to get in the club, it service regular food and all the rest of it but you've got to pay in cash, not credit, not crypto but cash. >> it could be credit, not sure about that. us dollars on the site and there are a limited number of memberships. i'm thinking this is the elite

of the elite. stuart: there you go, you eventually got to it, well done. youtube hit a huge milestone. one video racked up 10 billion views. if you're a parent or grandparent chances are you have seen it and the jingle on this thing stays in your head forever. you will see it in a moment. the band fine for fighting is warning of political censorship. their music video was temporarily removed from youtube. the band's leader joins me in a moment. voiceover: riders. wanderers on the road of life.

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♪♪ there's blood on these hands

♪♪ stuart: that song is from the band fine for fighting because youtube pulled video claiming it violated their graphic policy content. the song is called blood on your hands and it criticized president biden over the afghan withdrawal. after the back lash youtube reinstated video with a graphic content one was the band's front manager joins me now. they say it was the graphic content. why do you think they cut it? >> love your show, thanks for having me. it was interesting. when youtube first vetted the video and posted they put a child restriction warning on it which i appreciated. i also included a graphic warning but only when the video started to resonate and go viral did all of a sudden they take it down and they did say

it was for a graphic warning, quickly i googled a dozen other youtube videos with taliban atrocities some much worse than mine and only after a national outcry did they eventually apologize and put the video back up and say they made a mistake, those mistakes tend to only go one direction. stuart: did they tell you it was being taken down or did you suddenly find out it wasn't there any longer? >> i had no idea. i started getting emails particulate from afghan veterans were outraged they took the video down. that is really trying to keep afghanistan in the forefront of the american people. there was a big outrage but there's a lot of folks that don't have a platform i do and what about them when youtube take their video down. they have no recourse. it is a big problem. stuart: i will change the subject because i found out that you are in the manufacturing business and you make and manufacture shopping carts. have i got that right? >> you do. we are probably the last manufacturing business in california. we make the best shopping cart

in the world. if you shop at costco you know that firsthand it if you have purchased costco as stock in the last 20 years, i hope you have, you could've done very well. if you are looking for a stock tip there is another sector is this, bj's warehouses which is following costco's footprints that would be a good play for your audience. i look at that and get some today. stuart: very interesting. you are a man, you wear a lot of hats and we like that. congratulations on the video and the shopping cart business and working with costco. what a stock that has been. don't be a stranger. come back and see us soon. >> thank you, a pleasure. stuart: got to get to that video that has 10 billion views. i think i know what it is and i think i know that jingle, it is in my head. lauren: baby shark hit the us

in 2019 and it is the first youtube video to hit 10 billion views. you have seen it but watch it again. ♪♪ baby shark ♪♪ baby shark ♪♪ baby shark ♪♪ baby shark ♪♪ lauren: totally catchy, totally annoying so i change it. i don't like having to be the mom who has to be smaller than the dad now so i do crazy dance moves in my baby shark. stuart: 10 billion views. >> it is catchy and annoying at the same time. it became a serial, washington national square during the world series. stuart: we got to go. show me the dow 30. i give it the stock. got to have a sense of the market and we are down across the board. don't go anywhere. friday feedback is next.

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>> i watch your show regularly.

wish i could watch saturday and sunday too. >> i want your show when i can, keep up your great work. >> love the varney show. i love his humor. love his accent and i learn a lot about market trends. stuart: that is great, thank you to all of our viewers for kicking up friday feedback with lauren and susan on board. the first comes from cass, love your music, selecting from 60 plus years of great music. if you dream of growing up when the greatest music was popular then you get the boomers, keep digging in the archives, finding the best of the best. and what music would you want to hear on the show you've not heard already. >> dance music. i'm always dancing. you haven't seen it really but

at home yeah. >> you should send it into us and if you are not careful we will run it. >> we have dance contests all the time. stuart: you have young children. jeff right to this. i often see what appears to be a live shot the looks like some kind of coast guard station on top of the building. i've searched google many times, can't find where it is. tell us what that is and what we are seeing. looks like a shed on top of an aircraft carrier. that is the intrepid sea, air and space museum located on the hudson river, 400 yards from where we are sitting, new york city. david asks i have asked this before, this is for you. i have asked this before. why does the tenure interest rate affect tech stocks. how does it affect sales and

profits? >> if you have to pay more for borrowing costs to borrow money it does affect your profit margins and you're getting more guaranteed money on 10 year treasury bonds. you have to shift money and money managers shift and reallocate cash to buy the tenure government bonds and that's why tech stocks are more risky. you didn't ask what my favorite music was i wanted to hear on the show. i would choose gregorian chants. stuart: that is a new one. >> karaoke right there. stuart: this is from jim who is reacting to a segment we did with you all. i rented a 26 foot trailer from new york to indiana, cost $2,000 going the other way it is $7.50. no surprise there, just

following the trail of the exodus. on this note i am familiar with the rental car market in florida. recently a friend of mine wanted to rent a compact car for one week in naples, florida. just guess on the price for one week. >> 2500. >> $2,400. doesn't that seem extraordinary? that is supply and demand. >> i only knew the answer because he told me a few days ago. stuart: jim rights this. isolation box. what is next in congress? the cone of silence? i am sure pelosi would like that for congressional republicans. you did the story on the isolation box this week. do you know what it is? >> like a plexiglas enclosure they put a over and positive congressperson in so they could be there to vote.

stuart: i have to be honest. that is what it looks like and thinking of those bubbles, you could eat outside when it is freezing cold, something like that. stuart: never put any of this three in the isolation box. time for friday's trivia question. which mountain is the tallest from base to peak in the world? answers when we come back. goldshore resources is an emerging gold developer with an experienced and successful management team, that's well funded to double the 4 million ounce resource over the next 2 years at their ontario based project. goldshore resources.

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stuart: the question, which mountain is the tallest from base to peak in the world. >> number 3. stuart: you think kilimanjaro. i didn't here. >> number 3, yes. kilimanjaro. stuart: you are both going with kilimanjaro. what have we got? show me the answer. maunakea, the mountain is more than 33,000 feet tall, 13,800 feet of it is above sea level, the rest is underwater in the pacific ocean. for comparison mount everest reaches 29,000 feet at its summit. did you know i stood on the summit of mount kilimanjaro on

easter sunday in 1967. i was 18 years old. one of the great experiences of my life. >> i want to see the picture proof. stuart: traveled all the way around the world, 62 countries, no pictures, lost them all. i didn't have a camera on the top of kilimanjaro. i was just a poor young man. >> you want to send me -- stuart: time is up for me. look who is here now. ashley webster in for neil. neil: ashley: no iphones on kilimanjaro. welcome to "cavuto". i'm ashley webster in for neil cavuto. a busy two hours ahead as the dow, s&p are set for their second week of losses was we continue to follow the markets, the dow up 270nt