maria: the premarket after christine labarre took a hawkish tone on inflation, don't forget to join us tomorrow morning, special coverage of the jobs numbers 8:00 a.m. eastern, we will have all hands on deck, great to see you both this morning, thank you for joining us and we will see you tomorrow, have a great thursday. varney & co. begins right now. stuart: good morning, everyone. look out below, facebook's disastrous earnings report, 17 hours old set of always. look at best, meta- platforms down around 23%, premarket trading, 23%. that's about $200 billion worth of value off company. his appointing profits, disappointing outlooks, huge selloff from $323 a share at the close yesterday likely open of around 247. that's a big part in bath.

the question will ask, zuckerberg lungs company. he still safe in the top? big picture, meta- nosedive took roxanne as well and nasdaq will open sharply lower, thought about 111-point, better than 3% and that i will be gone 142. spillover from meta. as a crypto theft to report, $320 million heist against. , that unnerves investors. that.is not $36000. bond prices are down and that means yields are up. moving up to 1.82% on the ten year treasury, that's always hurting big tech. here's something growing up gas prices. the national average is $3.41 a gallon. big news and politics from a

visit to new york city today, he's going to talk about guns and gun violence but what about no bail, and dale, demonizing the police? morava photo op with the mayor, new anti- crime policy. the president will announce counterterrorism, nicest leader lasted two hours the isis by himself selloff with the suicide vest. 100 million people in the path of the latest storm, i see storms and freezing rain make for a difficult day in the midwest and it's heading east. finally, a member the picture on los angeles mayor eric garcetti, massless at the rams game sunday? he said he couldn't have infected anyone because while the mask was off, he held his breath. [laughter] reminds me of bill clinton years ago, if you smoke pot? no, i didn't inhale.

2022, 40 and company is about to begin. ♪♪ ♪♪ ♪♪ stuart: pettis taylor swift across the president is on his way here or will be shortly. he's going to be in new york today, the president will meet with eric adams talk pride. pete covid the police funeral in new york city yesterday, he heard pleas from family members about soft on crime policies. pete, come into this, the president soft on crime. what does he hope to get from today's meeting? >> i think you are exactly right, you said it at the top, it's a photo op, opportunity to make it look like they are doing something as it pertains to

crime. in reality, every policy, every approach big city and national democrats have taken have been to demoralize and undermine police. they can say they don't stand for defendant police but what do you stand for? what are you doing to take on prime? to keep criminals in jail? what are you doing about the border were too many people have crossed illegally and now facilitating that completion of that trip secret flights you deny are happy cities across the country putting in even more difficult of a situation? talk about guns but not a single nypd officer i spoke to yesterday, i was at their covering from fox and friends before the funeral, not one of them talked about guns. they talked about the new d.a. the catch and release what they talked about the realities leadership has not had their back, that's why crime is spiking, there are no consequences and i don't think you will hear a word of fact

from joe biden. stuart: i don't think so. i we've got you, your in tampa florida, a restaurant in tampa, a mile from where tom brady plate, how are the people there feeling about retirement? >> let's ask me, if i may, i will sit down with jean karol, two big box fans from a they've been married 51 years. stuart varney wants to know what you think about the fact tom brady retired? >> you deserve it, he needs to make the best decision for him and his family and frankly, i'm glad we had him for two years, i'd rather tom brady for two years that are mediocre quarterback for ten. >> i can relate to that, ten years of mediocrity. >> we are sorry he's leaving, we love him stay one more year but it is what it is. he needs to retire and be with

his family. >> i heard you say that, whose stuart varney? that's not true. when i turned to the couple and set you are on with store and they said we left stuart. stuart: you sir, are all right. let's get serious. special forces, special operations forces killed he isis leader in syria overnight. i believe we are about to hear from the president on best. >> you will deliver remarks at 9:30 a.m., special forces in northwest syria a jihadist group overnight. sources probably jennifer griffin, she was wearing suicide vests that detonated during the raid. no u.s. casualties but at least a dozen syrians were killed. stuart: we will hear from the president shortly on that. it's time we dealt with the

meta- platform selloff. back to this, but was so bad about facebook's report that it took 200 billion off their market value? >> the first problem from a virtually unprecedented for facebook growth. daily active users, 1.39 billion, a big number but it felt. it fell for the first time ever their outlook for this quarter, that was disappointing and then they have the reality that houses the meta- first, it lost $10 billion for last year. the translation is, facebook is pivoting to the meta- first big cost. shareprice decline at least $775 billion from the company's value today, collateral damage for their competitors like amazon will report later about $170 all time -- 52 week low here. it has been almost 3800 recently

amazon has come down in a big way. i think the argument here mark zuckerberg is distracted, he supposed to be focus on the core business of facebook, user growth and advertising that comes with it and is pivoting to the future, the meta- first. stuart: i told our viewers we would ask, is he safe in the top job position at facebook? my answer is yes, he is because he controls the stock on that company you can't get him out but there's hostility to it with a lot of pressure. let's bring in michael lee, were you surprised by how bad the meta- report was? >> it seems like special forces that took out isis leader are taken out facebook stock. this is shocking especially on the heels of how good who will earnings were. you asked me a week ago i would have thought looked okay and facebook would look okay great,

fight and march across wall street facebook was rated by everybody and what the big missus advertising revenue came from the company's inability to pivot after apple changed the privacy settings on the iphone. facebook's inability for a and figure out a way to continue profiting really derail them in addition to the meta- first, i personally think this meta- first nonsense but that's me. stuart: has it derailed the rest of the big tech sector? big techno free-market, colossus are very strong apple is down a couple of bucks, google is down another 50. does the meta- think tank out the bottom for big tech? >> this is what a lot of people talk about, systemic risk of having very few large mega caps

when you -- facebook and google and apple, they almost become -- people are not -- selling funds because there is large exposure to facebook and it's going to spill over. but the time being, the markets in a little bit of knowing what i mean by that, we still it no that is going to do so never you have earnings again, you're going to see big rallies and selloffs on top of it and you factor in momentum computer algorithm trading so facebook cuts off the selloff and leads into everything pushing. stuart: you don't like the super bowl last week or the week before. >> what i would say is now is a time to look up facebook last time was 2018.

they are historically excellent at pivoting after these periods of poor performance so i don't know . stuart: who will just have to see how facebook closes today for the come back from minus 23% drop as of right now i'm sorry i am out of time but we are to move on. show me the futures, i want to look at the nasdaq, gone over 400 points and dow is down about 121. alexandria cortez why that democrats christian sinema. arc want senator schumer life as difficult as possible. ouch. was that bullying? president biden said to blame guns for the crime search. many residents and small business owners of the victims of lawlessness, progressive politics to blame. will hit the street for that report next.

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♪♪ don't you love jacksonville florida? 60 degrees but it is sunny. teachers market, we're going to open in about 14 minutes time, but i sector whopping 412, the center of attention today big tech and the nasdaq. meta- platforms pulling the floor out from under big tech, look at it now. all majors are sharply lower

again. let's get to the crime story in new york, the president coming to new york city, coming about crime and funds but businesses the real causes soft on crime policies, that's why we have a crime wave. madison has been talking to small business owners in the city, what they say? they are saying about so much more than gun violence, crime across the board is up they say something needs to be done, the president is prison with mayor adams, one paws up is afternoon and reportedly mayor adams is going to ask for a 9/11 level response to what he's calling it pandemic up gun violence but businesses, they say the real problem is people committing crimes are being held accountable and right now businesses have to adjust the way they operate in customers are wary to move around the city. take a listen. >> we see was happening in san francisco, we can expect to see the same here if we keep on

doing what we are doing. it doesn't help the workers of the city, not criminals, we are trying to make a living but these regulations are protecting criminals and what -- policy that protects us from it doesn't make sense. >> it's not just gun violence, it's also crime, the members don't lie. gun violence is up just so it's almost every major category of crime. many by shocking amount, right up over 26%. robbery over 32% in grand larceny auto is up over 92%. stuart, the president is going to visit a couple blocks from here. here in chinatown, an area see high levels of crime and homeless assistance with the start of the pandemic, fair desperate for change. as you hurt the business owner during that soundbite, he feels the current policies for helping

the criminals, not the businesses that are so vital to the city's we want good stuff, thanks very much. we will bring in joe, new york city councilman leader what you want to hear from the president today? >> i want to hear the president acknowledge the fact that for too long, specifically in 202020192021 the democratic party policy position on policing, on crime fighting was completely wrong. i actually think that's kind of the reason why he's doing this today with mayor eric adams from for all of adams wealth on other issues, he's been consistent on the need to have a proactive responsible police department. that's a big departure from where we were in the summer of 2020 with you from the police, george floyd riots, with the overall chaos of america's large cities. i'm a little optimistic he's going to do that.

i think we are going to hear about gun laws in georgia and maine and all those things too little about what's being done to them once they are arrested. i want to hear from the president is acknowledging his colleagues and even himself were completely wrong in the years past we want he could acknowledge mayor adams has the answers to the problem, that is stronger policing and reform of no bail loss get out of jail free laws. he could learn from eric adams but probably what but he could. >> right and i hope so look at eric adams rhetoric during the campaign, he said we want a proactive police department going out and arresting bad guys and police officers themselves should be just and responsible treat people with respect. it turns out about everyone in the city, probably in the country agrees with him and doesn't share the opinion of the

alvin price other lawyers look at the history of the democrat party, look how much time and attention and focus and i think business owners in the last segment make that. the democrat party spent too much time and emphasis warning about rights and responsibility conference of the people committing the crimes and not enough about the victims whether they are gun violence victims or simple business owner who is a victim of repetitive ceiling. the democratic party he's to shift and remember those people. stuart: you are the minority leader of the city council, have you been invited to meet with the president. >> i wasn't but that's okay. i'm just hoping he says the right things maybe the democratic party wrexham. eric adams is open to my voice so i appreciative of that we want thank you for joining us this morning. case, susan sarandon facing backlash purposing and psychotic week, she posted it while nypd

mourned the loss of officer more, what did the tweet say back let's look at it, you can see if you pull the banner down, a beautiful picture of a sea of blue showing officers mourning the loss of jason rivera and borah this week and that post reads i'm going to tell my kids this is what fascism looks like. she's up there on top of it were easy to blame she writes all of these crops were needed for crime that they, doesn't that mean they are not needed any day? seventy-three officers intentionally killed last year in this war on police. we seen other people cancel because of what they said about the beautiful images of our officers paying respect to those who died. susan going to be cancel? stuart: absolutely not. >> she saw an actress lose their job for posting something insensitive from yet she posted

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♪♪ stuart: plenty of bread inc. on the left-hand side of the screen, but replace that with market watcher this thursday morning, a flight back today, are you going to buy this dip? >> definitely not over leveraged, every analyst, just about everyone has a five rating from targets are going to come down from i suspect it will go toward below 200 and it on also from rate growth stock to no growth stock as earnings were down year-over-year for the first time from their losing people, young people in droves and elsewhere. stuart: up until this moment i

was thinking of buying at this morning on the grounds that it slow, slow, slow. you're going to talk me out of it, aren't you? >> we have a model, flow can go floor, simple as that. we want to stay with companies that continue to show ability to be consistently growing and there are others out there, i can tell you yesterday both numbers liquid from a all properly correct. talked about microsoft 1000 times from a really good. i would just go elsewhere right now and one other thing important, the company should have not waited for earnings day, wall street tends to be pier out on something like this, they've known about this for a couple of weeks and people were buying. in anticipation and now they pay the price. stuart: a question about amazon, they report after the bell today now dow was down 6% free market, as our forecast they will come in with the lousy report? >> amazon's numbers have not

been prey, stocks have been nothing for 18 months to say it best, they better not come with a back number and i say that because the big five is 40 some odd% of the nasdaq 120% of the s&p but if you've already had netflix coughlan up and about facebook. apple and microsoft had good reactions from you don't want a third that one. stuart: if any of your clients or myself or anybody has spare cash as of this moment, is your advice about don't put in soft, is not your advice? >> we think there is a full market energy stocks, insurance, lower types from what we think is little fair market growth stock, especially fire that's been going on for a while for the short from today will not help that at all because facebook was a growth stock in looks like at least for now no longer. so no help there.

stuart: thanks from that destroyed my entire investment idea for the entire day, if not the rest of the year. >> patients) we want at my age, you can't have patience. >> yes you can. [laughter] stuart: you are all right, gary. we will see you again soon. opening fail, they are bringing it now. training has begun from i'm expecting to see a lot of red ink especially on the nasdaq. right from the get-go, we are down about 120 points on the dow industrials. left-hand side, he would tell there's all the dow 30 and 45 of them in the right, they are done. right now the dow is up 100 points. s&p 500, that's down wanted a half%, significant pullback. show me the nasdaq down two and a half%, 364-point. big tech, all in the right, not a single winner.

microsoft is gone, they are all gone. apple, alphabet, amazon, medic, all down big percentage numbers. meta- platforms, we are talking on your 200 billing dollars hit to their evaluation. susan from to custer it. >> 200 billing dollars white, that would be the biggest market history. dollarized at least from a maybe not percentage, it's only the third time facebook has missed on earnings which was surprising for wall street. they lost, the first time in the company's history they lost half a million daily actives in the final three months of last year. they talk about tik tok competition, although apple's privacy changes which means facebook can't track where you go for targeted ads. counted at least 22 cut this morning wall street predicting $100 upside for the stock, still could possibly get 350 but

apple's privacy changes will cost meta- $10 billion in sales this year and they are spending a lot to change and transition into the meta- verse, around ten billing dollars for that reality last year and still not making money off of that. stuart: in my crazy for meta- at 245? >> i think you still have to remember they still make 40 billing dollars in profits over the full year and i think they verdict got it for tough changes when it comes to the apple privacy software system but the transition obviously will cost them money. how long will you stick with them there is recovered so it depends on you. they're still looking at $350 according to wall street. stuart: all right, pinterest must report later on today, even the meta- message, are they in for trouble?

>> are you going to tell us you are going to buy facebook meta- share? stuart: no definite answer. [laughter] >> after that report parts from us look at snap pinterest and other social media companies are doing, double digit drives right now. predicting a strong snap from the strongest profit and sales in three months for snap, going back for years for my daily active users could go up but i think wall street is probably having a rethink after the meta- report card. pinterest has been losing users the past year, 10 million monthly user drop for the summer and fall and not likely continue because it's hard to compare when people are stuck at home and getting renovation ideas, what you call it but idea for. stuart: that's what i called it as well, pinterest. now amazon from the last of the big tech to report this afternoon, down 4.9% heading

into the report, what is the key metric to look for. >> i would say cost from you think? it's interesting amazon getting caught up, it's not really a social media company. you have wall street predicting record revenue quarter, looking at $137 billion in sales, facts at the high end of the range amazon was in 2021. lower profit because they still have to pay for higher labor costs, inflation, supply chain wells and amazon missed in the fall because of the higher costs. they are still the market leader but after the strong numbers microsoft and google put in, you have to think is a bit of a catch up by the competitors, it will be interesting as well. stuart: it makes me nervous when i see a stock like amazon down

5% before they come out with her earnings. how about spotify? i would i saw they reported fairly good report from a stock without 11%. >> the joe rogan controversy doesn't help but spotify was down almost 20% the after hours but down 11, that's not horrific comparison i guess the forecast a sewer start the new year, they will only add 12 million users. looking for at least hundred and 18 million total users by the end of the first three months of this year. spotify claims the fact that they had strong and last year, 25 million new users from tough to continue that growth trend. too early to know the impact on the joe rogan controversy, wall street is not giving too much rope right now, analyst putting price targets, i counted 150 all the way up to 280 or so, there

are still some calls out there. stuart: how about tesla? i saw it way down earlier today, 895. it got another big recall, 800,000 vehicles? >> i don't think it's the recall but let's go through it because you own one of these newer models you might have to take it back 800,000 cars because the seatbelt reminder, the bell chimed may not be working so it covers 31, 22 models. stuart: seatbelt reminder, that is not a big deal. they will not take a huge hit because of it. >> no but there's a cost expenditure involved in recalls and adds to the software update rolling stock, people still driving effect, 54000 cars but i think deliveries are important from especially china delivery, all three tesla's china

competitors, a drop in deliveries from january, december to january, looking for the tesla update china is the main reason tesla ran up to one trillion dollars. it's exported overseas. stuart: $900 a share from of the high in november was 1243. it's come down a bit. >> i think 67 or something. stuart: .base, down 3% from turbotax. crypto investors their taxes. >> we know it's going to get complex, very confusing especially for crypto investors you haven't had washington define who exactly why minor or broker is but with turbotax, inches interesting because not only do you get help with your taxes but you get direct deposit back on state and federal tax

refunds, isn't that interesting? get money back into your account and the logic and mentality, you reinvest immediately and by mark crypto we want a refund in dollars, not christos, right? >> which you can convert into crypto and decide what you want to do with it. stuart: you are all right, thank you. dow winners on your screen from united about the top, travelers and insurance company their number three on the list. s&p 500 winners, t-mobile. technology, a lot of these companies i've never heard of but penn national gaming is on the list. nasdaq winners, t-mobile up 9%. charter, all on that list. google is up let's see, $14. is there more?

the exit from cnn media i, brian, he thinks so. >> this is a domino effect begins with andrew brummel and chris former firebird cnn and losing his job at cnn, it's a remarkable domino chain of events. stuart: he's the chief media guy, he missed the biggest media story his network history. black lives matter, california looking into groups using finances. where did the money go? story and reaction from the opera. farm folio, the company redefining agricultural investing by making farm land ownership easier. i'm talking to companies founder after this. ♪♪

♪♪

♪♪ stuart: who will get to the farmers in a moment, this is altoona iowa from a guess the temperature right now. altoona iowa. minus 4 degrees thursday morning. our next guest, ceo of a company in aquaculture by owning varmint. it's called farm folio, the ceo dax cook and he joins me now. interesting, let's see if i've got this right, i can buy a small sliver of a big farm subdivided so i can get the small liver and i bought of agriculture, is that what you are doing? >> good morning, yes, that's exactly what we are doing. 2005 innovating the agriculture

investing process and our product from o'clock allows individuals to buy subdivided the property. stuart: how many clients do you have so far? overall this past year we have a little over 300 lot buyers across the world both in the u.s., europe, africa, asia, we found rubble if you will. stuart: if i buy a lot, do i actually worked the land? >> you own the piece of land in your part of a farm owners association, very similar to homeowners association international real estate sub development. the administrator of the hoa or soa in our case would administer the property on your behalf and hire a manager and assign personal offtake agreement which ends up the likes of walmart, costco and trader joe's, etc. everything is essentially passive, easy way to participate in permit ownership.

stuart: so you're the farms managers? >> we hire the arm manager from we serve the initial i fenestrated and hire local managers who usually have decades experience in that category. stuart: price of the plots varies depending on the value of the permit crops their coming out with? >> that's right. the principal evaluation metric is based on the age of the tree, if the tree is older and mature, you have more fruit and cash flow which increases the value of the property. stuart: is this what your client? >> similar to that, we have different product categories, we started primarily in the coconut space and developed our first project with 600 acre open it velvet in columbia have added lines similar to what you see in the supermarket you might put in

your beer or on your talk. stuart: fascinating, investment in agriculture. farm folio, ceo, thanks for being with us, dax. the biden administration trying to stop the postal service from spending billions. gasoline powered vehicles. the white house wants vehicles to be electric, of course. postmaster general, if he really right resignation? because he wants gas powered vehicles? >> also a trump appointee and made a lot of prospects to the usps for obvious reasons you're looking at the current mailman delivering mail to your house, like 30 years old and doesn't have airbags or air conditioning so they will upgrade them. $11.3 billion deal with oshkosh corporation to make 165 thousand vehicles the next decade but only 10% of them will be electric and that's a big

problem. stuart: the postal service will kill the planet. >> that is the interpretation so they will expect the biden administration squash that. stuart: that's wonderful. [laughter] stuart: thank you, great report. check the markets, nasdaq down 300, the dow is down 300. what is the yield on the ten year treasury? 182 earlier, so 182. will dozen too much, just dropped below 1800. price of oil, i believe it is down, $87 a barrel. gas also i believe down just below $5. average price a gallon, a gallon of regular gasoline, that is going up. $3.41 rising. california just went up from a $4.66. gallon of regular. a new study, more than half of the teachers are looking to quit

how do you turn that around? former education secretary bill. storm tears across three time zones from 100 million are facing winter weather warning today. your forecast the travel mess after this. ♪♪ , tr

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1-800-217-3217. that's 1-800-217-3217 or than 100 million people across the midwest and northeast are in the path of a winter storm. fox weathers ian oliver is back. how bad is it going to be and where is it going to hit? >> great to be back with you, i feel like the bearer of bad news second major winter storm us in a weeks time, this is a whole different flavor from what we are talking about last week with the impactful eastern host from a look at these winter weather alerts from 208 seeing wintry precipitation, 100 billing people, hose or winter storm warnings from new mexico to maine, ice storm warnings from ohio river valley into the

mississippi river valley, leading to major trouble or travel across the country. he mentioned a number of delays and cancellations occurring. dallas-fort worth is closed until noon 1000 cancellations right there across the country, more than 4000. as we continue to move through the day-to-day, that's where we will see more of the trouble with travel look at the ice storm warning. bluegrass over to louisville back down to places like memphis, poker areas i could see in excess of half an inch of ice, crippling ice accumulation, treat damage, impossible travel conditions, and possibility of widespread power outages the folks who live in these areas, they know there's nothing worse than ice from a they've got a whole lot of it in the forecast. slowly spreads off to the east coast in the next 24 to 36 hours. stuart: ian the voice oliver,

two weeks in a row, a rotten report. i've got to nail down the travel problem, how many flights canceled? >> let's pull the numbers, about 4000 today in about 400 for tomorrow but you mentioned dallas-fort worth, half of their flights were canceled today, 5150 -- >> that's affecting charlotte as well. >> and chicago o'hare, 250 fight canceled. stuart: does it go up to the northeast, d.c., new york? >> some is a probation but unlike the blizzard we saw both of us know is more northern, we get a little bit of ice. >> we are done we need sunshine. [laughter] stuart: next time you come on, the market showing significant losses about the dow is down 340. nasdaq down 345. west virginia senator shelley l-uppercase-letter, governor mike huckabee, lee up terrel,

varney is next. ♪♪ ♪♪ ♪♪

♪ oh, i wanna dance with somebody. ♪ i wanna feel the heat -- stuart: we better get straight to your money. it is 10:00 eastern time. if movement again. i guess you could call it volatility. there's an awful lot of selling, that's the bottom line here. the nas a damage is down 328 points, the dow's down almost 1%. got to look at big tech. that's where the action is again this morning. in particular, look at metadisease platforms. it's -- meta platforms, it's now down $81. i can see the percentage, that is 25% at this point. that's a loss of value for that company, way more than $200 billion. look at amazon as well. they report after the bell this afternoon, and they're down close to $200. that's 6.5%. what an extraordinary move for big tech today. the 10-year treasury yield, 1.82 just a few moments -- ah, now it's is.84. -- 1.84.

that does not help big tech. as for bitcoin, i'm not going to call this a slide, but the it's down $1,000. 36,3. just in, the latest read on mortgage rates. lauren: unchanged from last week, 3.55%. the economy losing momentum in january, some people talking about stagnation which it certainly feels like as the economic data starts pouring in. stuart: all right. what about the service sector? lauren: stronger than expected but down for december. for january, 59.9. in december it was above 62. so that, too, coming down a bit. stagnated, if you will. stuart: okay. neither of those two reports affected the market. the nasdaq now down 350 points. now in this. now in this. the coalition that made joe biden president is falling apart. he has managed to upsettlement all the voting groups that put him in the white house.

his visit to new york citied today shows his problems with black voters. they elected mayor eric adams a, a former police officer. they elected him knowing that he, eric adams a, was tough on crime. the president's not been tough on crime. how about this? approximately 10,000 black civilians were killed by criminals last year. no wonder black voters are drifting away. they want something done. so, too the, are suburbanwith ites. as a virginia shows, they don't like his lockstep agreement with the teachers union which has ruined so many public schools, and they're not happy with the crime spike either. they want to go back to their city jobs and feel safe. hispanics drifting away. con contrary to what the biden team seems to think, they don't like an open border. in texas and arizona voters on the border are turning republican. working families, oh, clobbered by inflation. wage gains wiped out. and these are the people who have to go out and work. they have to get through the maze of testing, vax mandates,

mask mandates. working people pay the price of biden's failing covid response. so who's left in the biden coalition? the elites, of course. there's been a sea change in american politics in the last generation. the rich, the highly educated, the 1%-ers, they vote democrat these days. they're not leaving biden's coalitions, they're just the last ones still firmly onboard. second hour of "varney" just getting started. ♪ ♪ stuart: the former governor of arkansas by the name of mike huckabee. governor, welcome back to the show. good to see you. if i'm right and the president's coalition is really fraying at the edges, so to speak, what does that mean for november? >> well, stuart, you're always right, so let's begin with that a premise. you pretty well nailed it exactly are correctly. and part of the reason that the elites have not abandoned joe

biden is because they're not being affected by the policies. stuart: exactly. >> they don't ride subways, buses, commercial airplanes. they fly privately. they live in a protected world where they don't have to wear masks and don't have to worry about their kids at school because their kids have private tutors or go to private school. they don't live like the rest of the country. their not being im-- they're not being impacted by the biden administration so, no, they don't care as long as they continue to get invited to the swell cocktail parties. everything is swell and cool. stuart: swell. now, there's a word i've not heard since the 1940s. >> i wasn't around in the '40s, by golly. maybe the '50s and '60s, but not the '40s. stuart: okay. so i'm a little older than you. so what? [laughter] let's turn to this, this is extraordinary. a tweet, aoc tells senator schumer, hey, make senators like

kyrsten sinema's life as difficult as possible. how about that? make her life as difficult as possible. is that going to work to change anybody's mind, senator? if i mean, governor. no. this is so crazy that aoc who is, first of all, thinking that she's so important in the great scheme of things that she should be dictating to the senate. now, stu, you've been around, as you've said, a long time. so you certainly understand that there's nothing more offensive to a senator than to be lectured by a house member. folks, if you think there is a distinction between democrats and republicans, you ain't seen no distinction like there is between the elitists in the senate and those ne'er do wells in the house. so i not only think that it's offensive to sinema, it's offensive to schumer to have aoc trying to tell him how to run the senate. boy, did she ever step in it this. [laughter] stuart: new mexico senator ben

ray lujan is recovering after suffering a stroke. now, in the senate you can't vote by proxy, so you've got to be on the floor to pass a vote. that means the democrats temporarily lose their advantage in the senate. they won't be able to get any significant legislation through. that that's a big problem for them at this particular point. >> it is a big problem for them because they were already at a 50-50 split with the vice president being able to break the tie. but they've also got the problem with joe manchin and kyrsten sinema, now they have the problem of the new mexico senator who has suffered the th. recover. so politics aside, let's hope that's fine. but the creme -- democrats are in a tough place, and it's going to get tougher after november because i truly believe they have worn out their welcome with the american people in the house and in the senate, and they're going the take a beating come november.

stuart: all right. you pulled it around in a nice circle. well done, governor. jr. thanks for being with us. [laughter] i. >> i haven't been called young in a long time, stu. [laughter] stuart: come back on the show, and i'll do it again. >> amen. stuart: look at this, new gallup poll. not good for president biden. this is about economic satisfaction. what have we got? lauren lauren and the single question is are you satisfied with the state of the economy? 64% said, nope, we are dissatisfied. let me tell you when poll was taken, the beginning of january through the middle of the month, so one year into president biden's term. the biggest reasons for the dissatisfaction is the high prices of gasoline and energy, inflation overall a. i also want to get you -- give you another number. if you asked americans how they were satisfied with the overall state of the economy before the pandemic, that dissatisfaction number was half of what it is now, 22%. or. stuart: good lord. economic success under trump.

president biden has not. stated reality. let's get back to the markets, and look who's with us now, david bahnsen. he's a dividend guy. we need him at this time. a little stability with dividends, we love it. let's start with your pick of gilead sciences. what does it pay and why do you like it? >> let me go through a couple of these picks, and then i want to make a comment about dividend stocks overall. gill yard, 4.5% -- gilead, 4.5% dividend. it was one of the things that was on the menu of treating covid. gilead is a long item time company with a huge pipeline of product. .5% yield, tons of cash on the balance sheet for more m&a, and we're looking for things that have not traded up a lot, and gilead is one that is still at a really attractive price, about 12 times earnings. stuart: exxonmobil. >> yeah. let me tell you, this is a story for the ages. they took exxon out of the dow and put in salesforce.

since then salesforce is down 30% and exxon's up 100%. sex son -- exxon's well up over 100% from its covid bottom, and it's yielding 4.5%. they did not cut the dividend through that period of time when oil prices collapsed, they haven't cut the dividend over 70 years. and i just think you just look at 4.5 yield with, they have reduced $20 billion of debt in the last year alone, and now we're going forward with high demand and un-- inadequate supply. exxon's a great story. stuart: okay. i want to get your comment about dividend stocks in, but tell me about metlife first, real fast. >> oh, sure. metlife is up today, market's down a lot, metlife's up. great earnings last night. another big dividend grower, about a 3.5% yield. and if you think the long-term interest rates are going higher, metlife benefits from that. stuart: okay.

dividend stocks overall a, what's your comment? >> you know, stuart, i've been on your show for years now talking about high valuation and big tech, and a lot of the big tech names have continued to do very well. the only thing i want to say is when you see facebook go down 26% in one day -- and i will not call it meta, i'm calling it facebook -- and when you see netflix have the same thing happen a few weeks ago, this is a volatility that is embedded in these companies because of high valuation. now, that's fine. some people want to play it. it's high stakes, big earnings or big losses. but i will say the dividend growth world gives people the ability to get great returns without that level of volatility. more stable, consistent returns as they continue paying you quarter over quarter. stuart: that was a very good pitch, david. very good, indeed, and we hope to see you again soon. david bahnsen, everyone. good man. lauren's looking agent some of the movers, honeywell down 6%. what's that?

lauren: they make thermostats, helicopter engines, and they make masks. honeywell reported lower than expected quarterly sales, a fall in demand for masks. stuart: that affected the stock price, a fallen demand for masks? lauren lynn well, yeah, among other things you blame inflation and the supply chain, absolutely. stuart: show me biogen, please. i think that's down as well, 3%? lawrence lauren. lauren: investors don't like the forecast. they expect sales to be minimal after a medicare limited coverage of it. stuart: okay, i can't pronounce that. lauren: merck -- [inaudible] that's the pill for covid. $99 50 million in sales in the quarter, and they say by the end of this week they will have delivered 3 million goeses to the government. why -- doses to the government. the forecast for the year was disappointing despite the bump-up from covid treatments

and the like. stuart: the call is becoming the most important feature of an earnings report. lauren: and this time it's margin pressure on the call. stuart: i think we'd better take another look at meta. we're now down 23%. that's facebook down 23%, the story? lauren: i'm going to go with this, they tried to change the conversation from the regulatory scrutiny to, you know, mental health problems caused by teenagers using their site, but all the problems remain, and you add slowing growth and rising competition to those problems. and we'll look at their numbers, they were disappointing. their profit in the quarter was $1 billion less than it was a year ago, and they're spending all of this money to get into the metaverse up there when all the problems down here remain the same even if you do change your name. stuart: just piling up. lauren: it's piling up. stuart: down 23% right now. thanks, lauren. coming up, more artists leaving spotify. there are some celebrities coming out in support of joe rogan of.

dan henninger says president biden should declare the pandemic over so we can all return to normal lives. dan is on the show today. that's great. remember we showed you those secret migrant flights? if now we know how much those flights are costing you, the pax payer. -- taxpayer. we'll deal with it next. ♪ i just want to fly. ♪ put your arms around me, baby ♪♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do.

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♪ ♪ stuart: president biden meets with new york city's mayor, eric adams a, today. they're discussing the crime surge. bryan llenas has the story. is the president just going to talk about guns when he's here? >> reporter: yes, that's exactly right, stuart. good morning. focus this morning is going to to be on illegal guns. new york city mayor eric adams

says for every illegal gun they take off the street, five new ones appear, and today the president will meet with the mayor to discuss joint efforts to go after gun trafficking. they believe it is the proliferation of these illegal guns that is fueling the gun violence around the country. this is part of the plan if, take a look, that the white house is rolling out this morning. they're saying that the department of justice is going to prioritize gun violence in specific districts. heir going to crack down on illegal gun trafficking, they're going to institute a national initiative going against untraceable so-called ghost guns and that they're going to pursue illegal gun sellers. while president biden is willing to talk about illegal guns, the white house says he will not weigh in on local district attorneys and what critics say is the real problem, their soft on crime policies. democrats in new york have shown no appetite, for instance, to change the state's bail reform law or to raise the age allowing minors to be charged in criminal court for certain gun offenses

despite the pleas by mayor eric adams. listen. >> we need to tweak some of the laws that were made, particularly raise the age and not giving judges the discretion when it's dangerousness to determine someone should not be returned on the street because of their behaviors. >> reporter: the president is coming to new york city a day after the funeral for fallen officer wilbert mora who was shot and killed alongside his partner. at both funerals family member members blasted the local d.a. and the justice system for being too soft on crime. >> translator: how many wilberts, how many jasons, how many more officers have have to lose their lives before this system changes? the nypd protects us, but who protects them and looks after their lives? >> reporter: stuart, just last week a 16-year-old who shot an

nypd cop was released on bond free, outraging the mayor who says, again, the crux of the problem in his mind includes reforming that bail reform. stuart: well said. bryan, thank you very much, indeed. here with me now is new york republican gubernatorial candidate rob astorino. i'll get to the crime in just a moment, but you exposed those secret flights of illegals into westchester, and now we've found out that it cost the taxpayer $340 million in nine months for all those illegal flights. have you gotten any response from the white house? >> hey, stu. no, nothing. i did send a letter earlier this week and called the white house. nothing yet. maybe president biden, when he's in new york city today, will answer a question about that if a reporter asks him. but, no, we haven't gotten a thing. in fact, the only thing we really got from the if white house and even our own governor hochul over the past many months since august has been deflection and lies, you know?

it's like pooh-poohing everything. forget or the taxpayers who are forgetting the bill, forget the communities that are absorbing all of this, forget the laws that are being broken or taking the crisis on the southern border and moving it to communities all over making every community a border community. so, no, we haven't gotten any answers, and the public certainly has a right to know. this is a public health issue with the covid restrictions we're still in here in new york and also a public safety issue because, as we've seen, if they're not properly vetted, if people are not properly vetted, we don't know who's coming in, they can commit crimes and sometimes they do. stuart: and then they're just dumped into your area. i mean, i understand that they get -- they arrive on the plane, they take buses to wherever, and cars come pick them up and take them into your community, and you don't know who they are, and their children are going to go into your schools, and you're going to pay for it. what a situation. i'm short on time, so let me move on to crime in the city.

the president's here today in the city meeting with mayor adams. they're talking about crime. does the crime that we feel on a daily basis in the city reach out to your area, your county? >> everywhere. this is nothing more than, honestly, a vile photo op because the prime minister's coming in. it's the -- the president's coming in. st the policies of black lives matter, handcuffing police officers, defaming them and the no cash bail laws here in new york that the governor refuses to change, all the district attorneys that refuse to prosecute, the illegal gun, weapons that they get off the streets, they're not even prosecuting those. so they have the solutions, they don't want to do it because they're so afraid of their left flank. so their solution will be more money and forget about the laws already on the books. crime is going to continue to gd the summer months where it will always spike in places like new york and all over the country where it's just rampant when you

have these far-left ideology logs running thing -- idealogues running things as or prosecutors or even the president. if. stuart: ashley, come back in again, please. i want you to give us the story of the brooklyn teacher getting backlash for comments she made for the school's fundraiser for the fallen nypd officers. what happened? if. ashley: yeah, remarkable. the brooklyn teacher has been suspended after she tweeted that she was dressing up during a student dressdown fundraiser for two nypd officers killed in the line of duty. lauren duffy, she's a math teacher at the all girls' school. she made a statement on twitter students of the private catholic school wore i blue instead of their normal school uniforms. the dressdown raised money to be donated to the families of the two police officers who lost their lives. but duffy tweeted: if anyone was

wondering, i am intentionally dressing up today, hashtag abolition, hashtag blm. outraged parents called it insensitive and disrespectful. the school district says it doesn't -- the school itself says it doesn't endorse those comments and is conducting an internal investigation. and so they should. stuart: new york city's mayor, eric adams a, i believe he was caught dining with disgraced governor andrew cuomo at a midtown restaurant. ashley: yeah. stuart: do we know why they held this get-together, ashley? ashley: according to sources, they say the ex-governor had some ideas and policies that he wanted to discuss9 with the mayor. it was apparently a lengthy dinner meeting, about two hours in a private room at, as you say, a midtown restaurant. a spokesman at city the hall told "the new york post" that the mayor often meets with former government officials to talk about governance, nothing political about the conversation. really? also adding that mayor

adams believed cuomo mow should have stepped down as governor. cuomo has been keeping a low profile following stepping down from office last summer. let's hope mr. adams didn't pay any if attention. [laughter] stuart: terrible, ashley, you really are. but great. [laughter] how about this? more than half the teachers in this country are looking to quit because of frustrations over covid and all kinds of things. how do we turn that around? because we really need to. i will ask the former education secretary, bill bennett. he's on the show. former cnn president jeff zucker, well, he's former because he's resigned. i don't think we've got the full story on that. karol markowitz is here on that next. ♪ -- because it ain't no lie -- bye, bye, bye. ♪ don't reallien want to make it tough -- ♪ might sound crazy, but it ain't lo no lie --

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♪ stuart: all right. here's the markets, pay special attention to the nasdaq composite which is now down 240. it had been down 400. the dow is down 300, and the s&p's down 54. it's another selloff today. some movers, let's start with

paypal. i think they're still way, way down for another day, down another 4%. lauren: the selloff just continuing. the stock's down about $50 from tuesday, so they benefited to that a shift from online spending particularly last year, but their forecast is really the opposite of ore payment companies like visa, very strong forecast. not the same for paypal, and now they are losing business to ebay because they're processing their own transactions. stock hit a record high, very strong forecast. i think we'll just pay a lot to eat chocolate, right? especially during the holidays because this is for the fourth quarter. stuart: that helped me put on my covid 20 pounds. lauren: of course. i mean, yeah, you're not alone. stuart: my daughter used to work for ralph lauren. she left because of the pandemic. what's the story on the stock? lauren: we're going out again. we're buying high-end luxury goods, jackets and dresses, so ralph lauren reported strong sales, raised their forecast for

the year, and we heard something similar from the ownerses of versace yesterday. spending at pre-pandemic levings -- levels, that's a good thing. stuart: more celebrities speaking out about a spotify for keeping joe rogan's podcast. ashley, who said what? ashley: well, it's finally some support for joe rogan. i just want to point out that during the earnings call, the ceo acknowledged the joe rogan controversy right at the very beginning, and he described it as a learning experience. but he also added he was proud of the steps the company had taken to install new policies saying in part, quote: while joe has a massive audience with, he's actually the number one podcast in more than 90 markets, he got in a plug, he also has to abide by those policies. the streaming company reported a healthy 16% increase in paid subscribers for its premium service, a total monthly active users also jumped 18% to a record 406 million.

now, spotify didn't say whether the growing list of artists boycotting the site is hurting business, but to your point, stu, rogan has gotten support from actors like dwayne "the rock" johnson, kevin james and singer jewelment spotify -- jewel. spotify said it will end the first quarter with 183 million paid subscribers, sounds good, but less than forecast: the stock plunged more than 20% in after hours trading and it's hurting the stock again today, down 17%. it also overshadowed the fact that spotify's results for 2021 beat all expectations. perhaps if critically for the company, so far no reports of major advertisers jumping ship especially, of course, with joe rogan generating more than 11 million daily listeners. the advertisers love that. at last count, spotify carries 3.2 the million podcasts.

that number is growing. imagine that, 3.2 million. part of the company's plans is to make spotify the largest audio platform in the world. the ceo says the company already has a size sizable content moderation team in place saying we've taken action a -- that a tells you something about the scale of operation. but as always a, the key is gaining more customers if, and even though spotify says ad rates are going up, that won't matter, the company doesn't attract more users. with the big selloff today, it's more about disappointing guidance than anything else. stuart: got it. thanks very much, indeed. cnn's president jeff zucker announced his resignation after failing to disclose a relationship with an executive. karol markowitz joins me. i know you've been following in the story, but i don't think we've got the whole story yet. he and allison were tangled up very closely with disgraced

governor cuomo. all of that's not come out yet. >> that's right. you know, normally i would say that this follows what i call the colin kaepernick rule which is you can have a scandal, you can do bad things at work as long as your performance is good. but if your performance is not good and you are, you know with, a distraction or you have this type of scandal, you're out. but here i really do think that there's more that we haven't heard yet. i think that cnn personalities are sort of dripping that to us and saying that there's more here especially where the cuomos are concerned. zucker and his girlfriend were deeply involved in getting the cuomo brothers on tv together, and that was really the cause of a lot of problems for cnn over the last few months. so i'm looking forward to seeing how this plays out. i have a feeling that chris cuomo has more on this, and we're going to hear from him at some point. stuart: because he's angry at zucker for not paying out his contract for millions of dollars, so he's got an axe to grind there.

how about brian shelter, their chief media guy? he missed -- everybody knew if about this relationship, but he's the media guy, never reported it. he missed the biggest story of the year for cnn. >> yeah. and i think it's important to remember that not only did brian stelter not cover this whatsoever as their media reporter, he actually went after the outlet that did report it. greater online reported it, and he called them all kinds of names and went after them and totally dismissed their reporting, said it was untrue, said that, you know, they were lying to the public, and yet, you know, that seems to be okay from cnn's media reporter. i know there are a lot of calls right now to fire brian stelter, but i actually think he should resign and do pr for cnn. i think that's his role going forward. it seems entirely up his alley. stuart: that's perhaps one of the greatest insults, get out of cnn and do pr for cnn.

sharp-edged, but i like it. karol markowitz, thanks so much i hope you're still enjoying florida, by the way. >> oh, i am. stuart: allison was able to keep her job. what are the female staffers saying? lauren: they're reportedly livid about it because she lied, gets to keep her job and is continuing to lie. so the pair said their relationship, their friendship changed during covid, but many people said they've been together for a decade. they've been together all along. they worked together years ago at nbc, then she took a stint for governor cuomo and then to cnn where zucker was, and they even lived in the same manhattan building with their former spouses in manhattan. stuart: oh, that's interesting, an interesting detail that you got to. lauren: yeah. allison gollust. she keeps her job, and a lot of staffers are saying, why? stuart: thanks very much. leaked documents show just how unprepared the

administration was for the afghanistan withdrawal. we're going to get into that. nat gas prices are on the rise. are we going to see much higher home heating bills? gasbuddy, patrick dehaan, he's got the forecast next. ♪ ♪

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muck. ♪ stuart: i like that graphic, biden's energy crisis. well, energy costs are at multiyear highs. jeff block is with us. i presume that we're going to be seeing higher home heating bill, higher prices at the bump because of -- pump because of all of that. is that right? >> reporter: you know that the future, sir, is the sun and the wind. unfortunately today, the sun is not shining, and the wind is not

blowing. we are getting rained on, however, and the price of energy is through the roof. start with the gas prices. here in the philadelphia suburbs, 3.53 at the exxon. but the national average a now up to 3.41. that's up a penny in the last day, up five cents in the last week, up a dime in the last month, up a dollar in the last year. see a pattern there. oil, of course, underpins it all, and if you remember, since the start of december we were at $65 a barrel, and now we're at $88. of course, that's partly ukraine as well as well as not enough supply and a lot of increased demand. you mentioned heating oil -- natural gas to heat your homes. i do heat it with mine. i hear more complaints about that these days. we had a huge runup many nat gas. backed off a little bit today, but to you look, $3.56 was the million btu price at the cme at the end of december, it's up 55%. as i said, back off a little bit

today. the only good thing about high prices according to -- i know you're going to talk to pat dehaan about it and the forecast, we asked andy lip how some of the same questions, and he says the only good thing is that does tend to spur more production and exploration. here's what he told us. >> these higher prices are encouraging oil companies like exxon and chevron to increase their drilling budgets, especially in the permian basin. and while that is good news for supply, that supply is still many months off. >> reporter: and the congressional republican, as you may know, stuart, they just put out a report that said, in fact, you know, all this focus on green energy is just -- [audio difficulty] investment in fossil fuels, and right now we're using fossil fuels. you should have seen my if heating bill last month. yikes. stuart: yikes, indeed. i know exactly where you're coming from. i live in the northeast. straight up for the bill.

jeff flock, thank you very much, indeed. let's bring in gasbuddy's patrick dehaan who joins us now. first of all, i want to talk about natural gas. are we going to see much higher home heating and electricity bills this year? >> well, stuart, we're already seeing that. in fact, you know, seeing bills up anywhere from 50-100% compared to year-ago prices. natural gas prices letting off a little bit of steam today but still quite elevated, nearing $5, is so we're talking about an extensive run of elevated prices. we just saw the eia's weekly report, natural gas inventories declined a little bit less than expected, but still a big decline. the same holds true for natural gas and those gasoline prices, stuart. i think the only thing of the future is more upward movement. stuart: let's focus on gasoline. you've been on this program before saying, look, maybe $4 a gallon gasoline by this spring. you sticking with that? >> i think without a doubt, stuart. we're only now two cents away

there hitting that 2021 high. we're at about 3.42 a gallon here at moment nationally, we're only about 55, 57 cents away from that $4 mark. and keep in mind it's not even march yet, that's when we start the transition to summer if gasoline and refiners will have to purge that winter gasoline. so all the ingredients are still there for a healthy shot at hitting that $4 a gallon mark nationally. stuart: is it just supply and demand? >> that's essentially it, stuart. and as a andy lipow said, it bricks production back online, but that pain at the pump is going to be consistent until maybe the end of the year or next year when the high oil prices will eventually bring additional oil online, but it's going to be the a painful spring and summer. stuart: i just need to get back to natural gas for a second because it's affecting people's home heating bill. we're around $5 per unit at this

moment, give us a fore forecast on where you think that's going. >> mother nature's going to hold the key. forecast points to a little bit warmer weather in the northern tier over the next couple of we'res -- weeks. i think we'll still be volatile among this $4-5 range. stuart: energy price inflation is here and could get worse in the immediate future. that's your point? >> that's it. of it's going to be a bumpy road, stuart, especially when it comes to gas lean prices. we're in the midst of winter. winter's going to be cooling off in about 4-6 weeks, that's when gas prices are going to surge. stuart: do you remember when gas was $4.11 a gone, i think it was back in 2011? it was a political catastrophe for the administration at the time. i can only presume the same thing will happen back here if it gets anywhere near that level or $4. hey, patrick dehaan, thanks for joining us. we'll keep in touch, promise. >> thanks, stuart. stuart: as you can see, bottom

right-hand corner of the screen, the nasdaq is down 285 point, the dow's down 200. a lot of fallout from the meta platform's disastrous earnings report late are yesterday. here are the dow winners, the winning -- the biggest gainer is unitedhealth, dow ink is there, jpmorgan also on that list. s&p 500 winners, dxc technology. i don't know that company. t-mobile is on there. nasdaq winners headed by t-mobile, marriott and advanced micro devices. and -- amd had a big day yesterday. the mayor of los angeles, eric garcetti, now has an excuse for why he was maxless at the 49ers' game -- maskless. >> people ask for a photograph if, i hold my breath. to me, it is crystal clear that nobody is endangered by that. stuart: okay. let me repeat that. when he pulled the mask down, he said he didn't breathe. he held his breath.

he held his breath, therefore, he couldn't infect anybody. we'll have more on that. where's all the money going? that black lives matter if receives. we could soon find out, and we'll deal with it next. ♪

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♪ stuart: the market selloff is in progress. not quite as bad as it was maybe an hour ago, but we're down 200 on the dow, down 290 on the nasdaq and 56 on the s&p. california threatens to hold black lives matter leaders personally liable over missing financial records. leo terrell joins us. we don't know where the money is, and it's about $60 million as i understand it, leo. what are we going to do about this? >> well, i'll tell you right now, stuart, you have the wrong guest. i challenge you to get the leader, the ceo, the chief financial officer of black lives matterment. they don't exist. i challenge you and everyone to try and find out where the money has gone to in the black

community. black lives matter exploitedded the george floyd situation. millions of companies, the nba, the nfl gave them millions of dollars. who's in charge? one donation, one grant to schools, to minority schools. it is a secret. the reason why is because the money's being used for personal reasons. black lives matter not only exploited the george floyd situation, they exploitedded black people, and that's the embarrassing aspect of this. no one knows where the money is. stuart: on the left-hand side of the screen, we're looking at the mansion in canada which is formerly housing the communist party with black lives matter apparently has an interest or ownership of it. and earlier we heard about one leader who had walked away, walked away from the job and had $3 million worth of real estate all over the place. so you're convinced that this 60 million or thereabouts is for the personal use of blm people. you think that?

>> let me think about that -- [laughter] yes. absolutely. absolutely. again, i challenge anyone, fox, please, let's do an investigation. you and i, stuart, let's find out, have the ceo, cfo of black lives matter, i'll come on and just ask them a simple question: have you donated any of that $60 million to minority schools? to a family,, a minority family? no. they exploit it. they were the, they were the catalyst for this defund the police, for all of the chaos of the summer riots, and where are they, stuart? you can't find one member. stoort suiter some of these big corporations that gave them the money should ask for a refund, because it's not gone right. another story here. president biden on his way to new york. he's going to talk about guns and gun violence. my question is, what about -- what is the democrats' anti-crime policy? if do you know? >> yeah. it's the same talking point you just mentioned. he's going to talk about guns, gun control, ghost guns.

joe biden, stuart, is 24 hours late. he should have been at that funeral. he should have been at the funeral of the slain officer. and the widows, the families of those two slain officers have enough courage to call out the soft prosecutor. you will not hear joe biden or the mayor -- who i think is a disaster -- mention alvin bragg or george gascon because that's the left. they're not going to attack the base. i am sick and tired of seeing eric adams talking and not calling out soft prosecutors. you will get nothing from joe biden today except talk about gun control and a typical democratic talking point. stuart: you know, one of these days you'll tell us how you really feel, leo. [laughter] lay it out, lad. >> i am coming to new york to visit you and ores -- others ask appear on other fox shows later this month.

you and i. stuart: i've been warned. [laughter] leo, see you later: next on this program, bill bennett, dan henninger, west virginia senator shelley moore capito. cnn, once a shining example of media innovation, then it turned into a failing propaganda machine. that is my take and that is next. ♪ ♪ let's go ♪♪ ..

>> the democrats are in a tough place. it gets tougher after november. i believe they have worn out there welcome with the american people. in the house and the senate. >> every policy. every approach, big-city and national democrats have taken is to demoralize and undermine the police. there are no consequences and i don't think you will hear about that from president biden. >> when you say facebook go 20%, this is a volatility embedded in these companies from high valuation and gives people the ability to get rate returns without the level of volatility.

>> they are historically excellent at pivoting after the periods of poor performance. stuart: it is 11:00 in new york city, thursday february 3rd, rainy day in new york. the dow industrials down 300 points. this is the problem, show me meta-platforms. the gigantic company, stock widely owned, i've never seen a big company tank quite like that. across the board for big-ticket is down down down including amazon which is down 6%.

now this. in june of 1980, june 1980 cnn first went on air. i was on the team, one of the originals. we established a nonpolitical network that reported the news 24/seven. in the mid-1990s, cnn for some awful reason brought in senior executive from abc news. they turned it into the clinton news network. bill and hillary and all the democrats could do no wrong. cnn was infected with left-wing politics, a glorified democrat campaign. they detested bush 43 and when donald trump came along cnn launched a hurricane of hatred. hatred polluted the entire network. the ratings went to the tank. jeff zucker is gone, tangled up

with andrew cuomo. i make the same argument with some other media outlets as their intense hostility to trump clouded their news judgment. remember russia russia russia, suppression of the hunter biden story, this happens when journalism is run by zealots. i don't know what happens next at cnn but said to see a once shining example of media innovation turn into a failing propaganda machine. third hour of varney starts now. ♪♪ different subject. new report by republicans highlights the failures of the administration. senior leadership failed to effectively plan for an evacuation.

the botched withdrawal tarnished credibility. is this why we have russia and china pressing us? >> the incompetence was stunning. the day before the implosion of afghanistan you have people trying to figure out what are the allies and which countries will take people and put out a notice that tells everybody you might want to evacuate. those are extreme examples but it was not the well-thought-out example you would think it would be. president biden 30 days prior to what went down there, they are not going to overrun the country so people made decisions and lost lives and still americans were not able to get out of afghanistan.

stuart: xi jinping and when you are watching carefully. do you think we would have the situation in ukraine had we withdrawn from afghanistan in an orderly fashion? >> the overall projection of weakness has given an opening for china and russia to move forward. these things didn't happen under donald trump, these people believed in peace through strength. it happened under barack obama and president biden. there is projection of weakness. stuart: next one, congresswoman alexandria ocasio cortez taking a that senator kristin cinderella saying -- kristen sinema. make life as difficult as

possible for senator kristen sinema. is this politics or bullying? >> a bit of both. i think chuck schumer is running from aoc, scared to death that aoc will take him to a primary. looking over his shoulder. look at what he is giving her. you don't need to know but she has decided to make life hell for schumer. stuart: the infighting in the democrat party was extraordinary stuff. democrat senator suffered a stroke, he is recovering. he cannot vote in the senate by proxy. they've lost temporarily the advantage. is that going to cause upsets to their legislative agenda?

>> temporarily. i know that senator well. he's an awfully good guy. i hope he gets better and better soon. you hate to see him and his family go through this but hope he recovers. if you can't show up and vote you can't show up and vote. you had history where senator hatch and senator kennedy would pair votes, we are not going to make kennedy come into vote. there may be that sort of camaraderie but with everything on the line probably not. stuart: we will see you again soon. back to the markets. plenty of reading across the board, the nasdaq down 300 points. let's talk meta-. i am astonished at this

decline, 24% down, spilling over into other big tech. were you expecting it to be this bad for this kind of outcome? >> nobody could have expected this type of outcome. you are talking a $1 billion company down 24%. this is a big wake-up call to big tech and the censorship dragging these companies over the last few months. stuart: is it the end of the big tech rally? i have written it up with everybody else. is it over? >> we talked about microsoft and apple and those are my largest positions. i don't see that changing but one of my themes is you have to be ever selective on tech. these rotations that used to take several months a happening weekly.

if you are nimble and have a game plan your training tech as it moved up and looking at boring stocks like phillip morris. those are the rotations. stuart: i don't know if you're adept by her but would you suggest buying this dip in meta-platforms? is that a buying opportunity? >> broadly looking at things like the s&p, i look for the broader market to turn. when you look at individual names like meta-or facebook i'm not stepping in their today but i stepped into netflix a couple weeks ago. you don't have to think about it or catch the falling knife. wait for some activity for some bottoming. you can get some signals for a

nice trade-off. stuart: the jobs report tomorrow morning might be extremely negative. there may be a loss of jobs because of covid. what would be the market reaction to that? >> adp lost 300,000 jobs yesterday. that's a big number that has been different. i think a big drop in jobs confirming that will pull the market back with revision from fed expectations and the rate market would respond but we are not going to run like we have in the past. the federal reserve will look off in march. they need to. stuart: we will see you again soon. this plenty of stocks moving big time. qualcomm down 3%.

>> one of the biggest chipsmakers for smart phones, a say what is the next catalyst. stuart: sony has trouble finding chips. >> sony is down 2%. there is rising competition with microsoft. that makes x box rivaling sony playstation for its console. shares are down $25 billion in market wiped out. stuart: there was a time sony could do nothing wrong in the days of the walkman. back in the day. roblol x. don't understand what they do. lauren: look at this stock reaction. this could be in sympathy with the selloff we are seeing but

there are reports about the dangers of children playing roblol x, pedophilia. stuart: kids learn to code. lauren: why not? they say it is popular 6 to 14. stuart: i learned something new every day. a stunner on the hit show the masked singer. judges walk off the set in protest after a contestant is revealed was the mayor of los angeles defends himself after being caught without a mask at the rams game. he says he did nothing wrong because he held his breath when he took his mask off. a new survey shows have of teachers want to quit their jobs. anyway to turn that around? bill bennett is next. ♪♪

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everything i had planned for was now gone. paralyzed veterans of america was by my side from that moment on. since 1946, paralyzed veterans of america has kept a promise to our wounded veterans. we will never leave a fallen comrade behind. our vets need you. join me with your support. please call or go online now to pva hero.org. your gift of only $19 a month - just 63 cents a day, will provide the life-saving help our paralyzed heroes need now. with your monthly support, you're honoring the sacrifice our wounded veterans have made to defend our freedom. show them their sacrifice has not been in vain. your monthly support will help paralyzed veterans receive specialized medical care, support research and treatments, and fight for the accessibility they deserve. pva fights to help veterans like me from

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stuart: show me meta-blooge down 23%. that sharp drop cost mark zuckerberg $24 billion in his own network. kelly a grady joins us from los angeles. big questions about keeping people safe in meta-verse. how do they plan to keep kids safe. >> they are investing in la --

they haven't launched their meta-verse, let alone how to regulate it or who should be, it transcends sovereign borders so the solution needs to be global. a few of the challenges, social media has come under fire for human smuggling targeting children. imagine the magnitude of the world allows bad actors complete anonymity to create really looking avatar is without age restrictions, that is apparent worst nightmare. if this becomes a virtual version of the physical world most challenges we encounter will exist. consumer protection. taxation. regrading industries like gambling. another big hurdle is antitrust. there waiting for big tech to weigh in and dc leaders tell me if they are late to the game, power and data will be further concentrated.

>> google, facebook, microsoft, apple, they are developing the meta-verse. if we don't want a handful of monopolies controlling everything think about this right now. >> reporter: this tech will evolve quickly and may feel real. if we don't have officials who understand big tech working on regulation. our problems will feel like child's play. stuart: fair point. a new study from the national education association. half of all teachers plan to leave the profession earlier than planned, they suffer from burnout. bill bennett joined me now. good to see you again. half want to leave early, how

do you turn them around? >> this is part of the disenchantment with public school and it spread to teachers in public schools. i would not discount self-interest on the part of the in ea. they act in a self-interested way from time to time. it is partly about getting more money which is always a factor. we may be seeing a pivot in public education. covid gave us a window what is going on in the classrooms. the intransigence of the unions and you see what happened in loudoun county with people being distressed about critical race theory. this is interesting moment. stuart: i wish there will be a -- i would love to see it.

>> people are at the doors clamoring, and homeschooling has tripled in the last two years. stuart: i have a pet peeve about the teachers union. public schools were unionized in the 1960s by executive order from president kennedy. would you favor they unionizing public schools? >> that would be fine. not sure you could do it but we will see. the problem is the history of the book education in america is mostly good. public schools were founded on a nation of immigrants, we should have schools that teach common language, common morality and the distinguished history. when these unions took over it

was bad news. you have a pet peeve with the unions, i have 100 pet peeves. stuart: some schools are implementing the black lives matter at school with a week of action calling for disruption of the western nuclear family dynamics, return to the collective village the takes care of each other. we are turning out a generation of political activists. >> this is what i was talking about earlier. the kind of thing parents don't want. they want to teach kids to read and write and count and think and develop standards of right and wrong and not be part of this progressive political agenda. if they persist in this you will see the exodus that has begun in the last year or two. stuart: thank you for being on our program. check the markets.

can't walk away from the markets. down is down 200. nasdaq down 287. the new season of the masked singer hasn't aired yet but is already causing drama. what is happening is what does rudy giuliani have to do with it? ashley: rudy giuliani, never know where he will pop up next. the season premiere of the masked singer. it doesn't air until march 9th. but giuliani is one of the first contestants to appear and depart, his appearance from to two of the judges to storm off the stage in protest. the sinking competition show requires elaborate costumes and disguise their identities so

judges don't know who they are until revealed. they returned to the stage, how brave of them. stuart: rudy giuliani. the attorney general of arizona blasting the president for sending troops to help ukraine. >> the president will risk our sons and daughters to restore the ukrainian border. millions of drugs are flooding through the southern border. stuart: senator shelley moore into is here. a new app and says the pandemic should be declared normal so americans can return to normal lives. dan heninger wrote that. ♪♪ ♪♪

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order it now. - [announcer] in "hope for this present crisis," dr. michael youssef presents a seven-part plan providing practical steps on how to be a godly influence in our society and how to take a stand for our faith in a culture aggressively opposed to the truth. there is hope for this present crisis, if we act now. this book is now available to you for just the cost of shipping and handling: $4.95. and if you order today, dr. youssef will also include the "action guide," practical questions and answers for this present crisis. call or go online today for your free copy. stuart: we are showing you gulfport, mississippi because that state became the 30 seventh state to legalize medical marijuana.

patients need a prescription, they can by 3 ounces per month. you got to tell me more about meta-still way down. don't know how many points it is down. give me the story. susan: we are looking at a wipeout, the biggest in stock market history and bigger than facebook or meta-apps 17 year history. only the third time facebook or meta-has missed when it comes to earnings. the company lost half 1 million daily add users so they are blaming tiktok competition. facebook can't track where you are for targeted ads. wall street is still predicting $100 upside. those privacy changes at apple will cost meta-$10 billion in

sales and zuckerberg leaving $24 billion in wealth, the top 10 richest on the planet. what i don't necessarily like loss of wealth but i am not going to buy meta at this low level. the news is so smug i'm not going to jump into this dip. susan: i wonder if you will by the spotify different. in the final two month of last year it was great but spotify says it's too good. they have 12 million new users in the first quarter of the year, half the number they attracted over the holidays. too early to tell what joe rogan will cost them. we are not talking taylor swift or drake. spotify will be fine, some

going up to 280 for the stock. stuart: you think i should buy spotify but not meta-blooge susan: you are too smart for me to tell you what to do. meta-still has a 140 upside. stuart: it is incredible that meta would have a high of $384, now it is at 250. that is an extraordinary selloff. let's get to t-mobile. what's the story? with susan: strong report card. one of the top performers, 10%, they make twice as much profit as anticipated. they expect 5.5 million subscribers. meta losing half 1 million, t-mobile, 5.5 million new ones. stuart: maybe i should buy t-mobile instead but don't recommend anything.

look at this op-ed in the wall street journal. end the covid panic now. president biden should declare the pandemic over so americans can return to normal lives. dan heninger joined me now. we are almost there. we reached the peak and coming down the other side. what does it take to get back to normal? >> it is going to require president biden sitting in the oval office or the state of the union speech march 1st, declaring for all intents and purposes the pandemic is over and we can start returning to normal life. i would like to see him say there will be no mandates on testing, masking or vaccine. the mitigation of this virus needs to reside with the states. the point is covid for two

years has been in our heads all the time. the costs are too high in terms of the economy, psychology, social relationships, isolation has become its own pandemic. schools in many cities and towns are in a state of ruin. children aren't learning. it has to stop. it won't stop until someone like the president officially says it is over so we can stop obsessing every day over covid and get back to normal living. very boring to this country to get off the covid merry-go-round. stuart: do you expect the president to say those things? >> i do and i will tell you why. current covid policy is damaging his standing, it is in

part because there's so much confusion over the way forward, where you can buy testing kits. and it is undoubtedly, indefinitely, governor hutchinson of arkansas said the other day we have to begin managing it like a long-term illness. he is right and president biden knows that and the white house would like to step back from dealing with this every day. announcing the pandemic is over is a way to do that. stuart: weight with baited breath. the president live in new york city will meet with eric adams to discuss the rising crime. he's talking about guns, not changing soft on crime rules. do you expect anything good to come out of the meeting? >> i do.

it's not going to be big. of the president is trying to separate himself from the defund the police movement and that means for the progressive wing from the democratic party. they have progressive prosecutors. if the president pushes back against being soft on crime it gives support to eric adams for trying to reverse the policy. it is a huge lift for someone like mayor adams and to have the president get on his side will isolate the progressive left. that the only way to get out of this if those progressive prosecutors have enormous political pushback. stuart: i wait with baited breath. thanks for being here.

the mayor of los angeles, eric garcetti defending his maskless photo with magic johnson. i know what his defense is. for the benefit of our viewers. ashley: i mass every time, the now infamous photo at the championship game in la. take a listen. >> a 0% chance of infection. i won't pull it down for two seconds but to me it is critical clear nobody has been endangered by that. ashley: he says i hold my breath, take my mask off and then go back. sometimes he can hold his breath for a long time.

he's alone in facing criticism was governor gavin newsom and san francisco mayor london breed were photographed without masks but they always have an excuse. stuart: i was laughing justifiably. buyers can wait up to a year to get a new ride. the car buying experience is changing and we have a report. the us recall 330,000 new cases of covid yesterday. it is falling fast. doctor martymakarry ma is here. the doctor is next. ♪♪

every business is on a journey. and along the ride, you'll find many challenges. ♪ your dell technologies advisor can help you find the right tech solutions. so you can stop at nothing i'm ben affleck ands. i want to thank you for joining me and supporting paralyzed veterans of america. i joined the navy to serve my country as a navy seal. i wanted to protect the people i love and the country i love. being a seal gave me so many things, but i gave something too. while parachuting with my platoon, my parachute didn't open. i broke my neck. it left me paralyzed. i realized that everything i had planned for was now gone. paralyzed veterans of

america was by my side from that moment on. since 1946, paralyzed veterans of america has kept a promise to our wounded veterans. we will never leave a fallen comrade behind. our vets need you. join me with your support. please call or go online now to pva hero.org. your gift of only $19 a month - just 63 cents a day, will provide the life-saving help our paralyzed heroes need now. with your monthly support, you're honoring the sacrifice our wounded veterans have made to defend our freedom. show them their sacrifice has not been in vain. your monthly support will help paralyzed veterans receive specialized medical care, support research and treatments, and fight for the accessibility they deserve. pva fights to help veterans like me from the moment of injury and for the rest of our lives. call or go online right now with your gift of just $19 a month. use your credit card and receive

this pva team t-shirt to show that you are fighting for our paralyzed veterans. i just don't think my family would be as happy as they are without the support that i received from paralyzed veterans of america. our veterans fought for us. let's fight for them. call or donate online at pvahero.org today. our veterans need you.

stuart: one of the most beautiful bridges in the world,

the golden gate bridge, 50 degrees. new car prices in december of 29% from a year ago. lydia is positioned at a car dealership in new jersey. if i want a new car now how long do i have to wait to get it? >> reporter: depends on what you want. if your heart is set on a beautiful luxury suv it could be six months or longer because inventory is so low. jd power says there are 15 days of supply, the thinnest of all the car makes on the market. the owner of alexis of route 10, your inventory lost is nearly empty. what did it look like before the pandemic? >> we were jammed with cars was there was no space between. we were renting lots off-site to store inventory.

now it looks like a shopping mall. >> reporter: this is affecting prices. not demand. your dealership was pretty busy. what are you seeing in terms of prices? >> prices are increasing, it is costing more to produce a car. it is supply and demand. >> reporter: people are willing to pay more than sticker price? >> anywhere from 5 to 10,$000 over sticker price but on the flipside they are getting more money for it. >> reporter: what do you think of inventory? >> i don't see it happening until 2023. lauren: >> reporter: the chip shortage is controlling the level of inventory. looking at next year expect the inventory to remain thin and prices high. stuart: thanks so much.

let's get something, natural immunity. doctor marty makarry joins us. you have a new study on natural immunity. it is ignored by the government. tell me about it. i have had covid. do i have natural immunity? >> you do with a high degree of reliability. this is a study published in the journal of the american medical association minutes ago. we will give the government time to digest it and if they believe in following the science they will look at it. it tells businesses and government officials we can depend on a previous positive covid test as an indicator you have natural immunity with a 99% accuracy. we found that immunity was durable for up to two years. the study has been following

patients, it tells us we need to change our mexican from vaccinated and unvaccinated to the immune and not immune. stuart: how come people get covid twice or three times. they didn't get natural immunity. >> there is a misnomer, if breakthrough infection is a failure of vaccination or natural immunity, it is not. the protection is against severe illness and that was only the girl, flatten the curve, protect our hospital. the fact the virus can land in your nerves and you can test positive even though you have strong immunity is not a failure. we had a follow-up study that showed natural immunity was more protective against getting omicron than vaccination. we don't want anyone to try to get natural immunity but we need to recognize it and hire people back who were fired who

have natural immunity. stuart: the united states reported 330,000 new covid cases. that caseload is declining rapidly. are we on the other side of the peak? are we on the downslope? >> the numbers are misleading. we have to remember the vast majority are mild cases. the rate of new hospitalizations is down. if you look at the states with rising case numbers they are six states, not densely populated. idaho, wyoming, minnesota, kentucky, which are more populated. we are not seeing a rapid decline in cases and the

synchronize pattern in cases in the united states which is good news for the concern of a late spring or summer surge as it moves south and people moving doors for air-conditioning. it is burning through so quickly we can feel good about being a better place in a few weeks. the uk removed every restriction and we will be there soon. stuart: i would love to see it. see you again soon. let's check the dow 30, give you a sense of the market. there's a lot of selling, dow is down 265 points. we've shown you the video of migrants in the new york suburbs in the middle of the night. senator shelleyit oh with what can be done to stop more of these flights. ♪♪

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>> it is the ultimate

hypocrisy. the president is risking our sons and daughters to secure the ukrainian border and drugs are flooding through the southern border. stuart: arizona's attorney general wants the president to see the border firsthand. we have been restoring on the at ministration flying thousands of illegals from the border to cities and towns across the country secretly in the dead of night. senator shelley more capito joins me. you are the ranking member of the homeland security appropriations committee. can you learn -- can you use the power of the purse terrain in these flights? >> we are looking at oversight. is difficult to get this administration to bring forth timely data. normally we would find out how many apprehensions were at the border by the first week of january. it comes in at the beginning of

february. they don't want these out to 170,000 which is an enormous amount. the numbers are still going up. we are releasing folks into this country with something called the diversion of detention. they are wearing a bracelet or have something on their phones. there is no accountability. we are trying to reign it in but the administration is not forthcoming with the data. stuart: $340 million in taxpayer money has been used on these flights facilitating illegal entry, $340 million. >> when you have 2 million people it adds up quickly and a lot of communities don't know people are being left off in their communities. they are able to use their arrest warrant with their id to

fly which smacks of hypocrisy. as much as we ask the administration to give us the accountability, they have no policy. stuart: no policy to close the border and stop the flow. one more for you. democrat senator who is recovering from a stroke, we wish him well. he cannot vote by proxy. he has to be there to cast a vote. doesn't that take away the democrats advantage in the senate temporarily? >> certainly i offer his family and him, he's one of the nicest people, we have very nice people in the senate and ben ray is one of the. my heart goes out to him, a speedy recovery. i'm sure senator schumer has put them in his calculations. we are doing this with nominations and it is bipartisan. stuart: senator shelley more capito, come back soon.

you know what time it is, almost 11:55. how many flowers do honeybees have to visit in order to make one pounds of honey? half 1 million, 1 million, 1.5 million, 2 million? big numbers. we will have the answers after this. . . . .

stuart: favorite part of the show, the trivia question. how many flowers do honeybees, as in, a whole lot of them, have to visit to make one pound of honey? how many visits to flowers to make a pound of honey. ashley, there is a your choices. you want to take a guess? ashley: bees are so tiny. it pound has to be the highest amount, does it not? i will go two million. stuart: i guessed a half million. you're right, the answer is two million. listen to this, ash. a hive of bees flies 55 million miles to produce a pound of honey. aren't you glad you heard the trivia question? ashley: wow. every day it is fascinating. >> here is the show we have lined up tomorrow. barstool sports guy, dave portnoy. we have exclusive interview with professional boxer jake paul. do not miss that.

don't for get to send in the "friday feedback," varney viewers @fox .com. send us your fan friday videos, fake a video of your seven h self, tell us your name, you're from, this is the important part, you have to say you're watching "varney & company." you do that you could be on tv. time is up for me. dave asman takes over. david: i can't wait. dave portnoy is a great interview i'm david asman in for neil cavuto. president biden about to meet with new york city mayor eric adams to push his strategy to get guns off the streets with many saying it is about a lot more than guns, it is the criminals that use them. we'll bring you the very latest as well as reaction from dr. alveda king later this hour. first this hour, facebook face plant. shares of facebook's parent company falng