tv Varney Company FOX Business February 8, 2022 9:00am-12:00pm EST
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maria: mr. president, it's been great talking with you this morning. congrats on the book, and we will talk soon. thank you, sir. >> thank you very much, maria. maria: we'll see you soon. prime minister donald trump, 45 -- president donald trump, 45 joining us in that exclusive. thank you to dagen mcdowell and adam johnson, we so appreciate you joining us. we will see you tomorrow same time, same place. very any and company begins right now. stuart: maria, you could have let mr. trump bleed over past 9:00 so we could pick up on the ratings. maria: i was watching the clock, stu, watching the clock. stuart: that's not like you, maria. [laughter] i can't believe it. good morning to you, everybody. two years ago when the lockdown started, peloton could do no wrong. their fancy and expensive exercise bikes were all the rage. look at it this morning, below -- actually, it's at $30 a share. here's the show. the found -- the story.
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the founder and longtime ceo is out. they will cut 200 corporate positions. they'll cut costs. this is a remarkable comedown for a company that did so well when we all had to stay at home. the masks, they're coming off, and it's democrat states that are shaking off their own restrictions. the election's, what, nine months away? maybe that's the reason. new jersey, delaware, connecticut, oregon will let kids go maskless. we, the people seem to be way out front of the blue state politicians on this one. the vax mandate protest in canada, that continues much to the authorities' annoyance. ottawa is still virtually closed by that truck convoy. the truckers cannot blow their horns for the next 10 days, and the police say they need another 1800 officers to end the protest. all right, let's get to the markets. little price change for stocks in the premarket session this morning. the dow could be up about 80, the nasdaq could be down about
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28. but bitcoin, that's back to $43,000 a coin, 43,6. at this time yesterday we had it at $47,000 per coin. interest rates, here's perhaps the most important point on the markets today. up. the yield on the 10-year treasury now 1.95%, getting much closer to that 2% level. gas prices, they too are climbing. the national average for regular going up about one cent each day. we're now at $3.46 for a gallon of regular nationwide. and look what we've got for youd to. a democrat changes party. so what? well, he's in brooklyn, new york city. who knew there were any if republicans in brook run. -- brooklyn. ford's electric van called the e-transit starts shipping to dealer. ford's america president will try to show me one. it's february 8, 2022. "varney & company" is about to
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begin. ♪ ♪ ♪ you can't always get what you want. stuart oh, you can't always get what you want, but you get what you need. [laughter] fill in the blanks. that's very good. we've got to get right to peloton. all kinds of things happening to this company this morning. the ceo is out. they're cutting jobs, they're cutting costs, and the stock's way, way down. that's a whole lot of problems, lauren. lauren: well, the stock's now up, okay. it went down about 3-4%, i thought because investors were preparing for this ugly earnings report. let me give you the news. 2800, or a fifth of corporate positions, are going to be cut, and the company's earmarking $800 million in annual cost savings. is this report going to make peloton more or less attractive
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to a buyer? and then they have the announcement of not just any executive, but a high caliber new ceo, barry mccarthy, the former ceo of spotify and a netflix executive, does that signify that peloton is going to right this ship on its own, an independent company, or will it be sold, and who's going to buy it? how ugly is this report card going to be tonight? stuart: we do know that the guy taking over as ceo is a high quality executive k and if he's taking over that company, my guess is they want to run it themselves and build it back. that's my idea. lauren: maybe the financials are so bad that amazon, apple, nike, they don't even want to touch it. stuart: 150 to 30 in six months, whatever it is? all right, let's move on. a number of blue statements lifting their mask mandates in schools. however, white house press secretary jen psaki says president biden still recommends children keep the mask. watch this. >> our responsibility as the federal government is to rely on the data and the science that is
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being analyzed by our public health experts, and we'll continue to rely on that for what recommendations we're making. we recommend masking in schools. that is the recommendation from the cdc. it is also true that at some point when the science and the data warrant, of course, our hope is that that's no longer the recommendation. [laughter] stuart: ah, when the science -- whatever. okay, look who's here, congressman byron donald. i'm sorry, congressman, i shouldn't be laughing like this. republican of the state of florida. congressman, why are these blue states -- new jersey, connecticut, delaware, oregon -- why are they suddenly dropping their restrictions? >> was their -- because their people have had enough, that's why. the politics has been bad for the democrats on this for more than a year now. masking kids in school doesn't really make much sense. that data has been consistent since the beginning of the pandemic. but also, number two, kids don't
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even wear the things right. the thing is hanging off their nose, it's around their chin, and the second they walk out of the school building, they take it off and hang out with their friends anyway. this is political overreach by the democrats. they are wrong, parents are fed up, they're over it, and now they're reversing course. even if you look at the details, they're not getting rid of the mandates for another month and a half. they need to do it today, not wait until the end of march. stuart: agreed, but i'm asking why now? i think it's because there's an election or the elections, plural, in nine months. >> oh, absolutely. i think, look, phil murphy just almost got beat, so this is very clear, the democrats are running for the hills. they've been wrong on everything, and this is the easiest thing, excuse me, they can do to reverse course. but they should have done it a long time ago. stuart: i believe that you brought with your three children on to the show is. i was away, somebody was sitting in for me. i think you had your three on the show. they don't wear masks, do they?
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>> no, they don't. they stopped wearing that last year. they had it last career in florida, then that got got rid of, and they're back to normal. stuart: if they had to wear masks, would you consider moving out of state? [laughter] >> out of florida? absolutely not. we don't do that in florida. listen, identify told you so many times, we've learned in florida how to manage the pandemic and get back to life. children are largely resistant, they get over covid is the so much. i think if you look at the core data, there's been about 10-20 deaths of children from covid-19 who did not have co-morbidities. so 10-20 kids out of a population of 70 million children? come on, america, we can look at the data and do better. stuart: byron donalds, great guy from florida, the great state of florida. thanks, congressman. >> take it easy. stuart: better get to the markets. jim lowell is with us. question, jim, do the latest earnings reports and these guidance calls, do they together
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suggest a slowtown in the economy? slowdown senate economy? >> i think they do, stuart. i think what we're seeing is the temporary potentially slowdown in the space of economic rebounding growth. but slowing growth is not no growth, not by a measurable mile. and when you're measuring that mile based on fundamentals, earnings and their guidance but also every economic fact we're looking at, what we are not seeing is an economy that's about to go off the rails. what we are seeing is an overheated economy beginning to normalize it pace and rate of growth. stuart: what will be the markets reaction thursday morning if we get a 7% growth rate in inflation for consumers? >> the knee-jerk reaction would likely be negative on the assumption that that would propel the fed to be even more hawkish than it has been in terms of the kind of rhetoric we've herald from them and take -- heard from them and take
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maybe dramatically more and higher rate hike actions in 2022 than is priced is. but we think if it were to hit that number, it would be a flash in the pan. what we think we're going to see in 2032 is -- 2022 is constant bouts of having to fear inflation rising set against the fact that after stockpiling goods for almost nine months, we could even see a bout of deflation sweep into the 2022 markets. we think it's going to be very volatile, definitely a marketplace where investors do not want to buy the basket of the market in the etfs. you want to buy in a very selective manner. stuart: are you looking for market rebound maybe? >> we're looking for a market to enhigher than we began the year by year end. maybe it's going to be tricky, especially that word mid, the closer we get to midterm elections, we think the greater
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the volatility will be. stuart: got it. jim lowell, thanks for being with us on a tuesday morning. see you later. we've got to take a look at meta platforms. peter thiel is stepping down from the board. do we know why, lauren? lauren: to support trump-aligned candidates in the midterm elections, that according to "the new york times" and "wall street journal." he is recently pledging $20 million to push two republican senate runs by j.d. vance in ohio and blake masters in arizona. the question or the problem with thiel out, facebook loses its most prominent conservative voice, and the question is he's been there since 2005. why does he want out? maybe he doesn't believe in the future of the company. stuart: why's he out a couple of years or at least a year after they kicked trump off facebook? why is he leaving mow? lauren: i'm going with he doesn't believe in the direction of the company. we saw the last earnings report
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and that it's losing with current users. stuart: meant that is at -- meta is at 232 this morning. facebook and intragram -- instagram should be shut could be in europe? lauren: we've known about this for a while. it's inside if baseball. facebook is threatening to pull their service across europe if there's no deal on trans-atlantic data transfer. so e-regulators prevent meta from processing e.u. data on u.s. servers. they said, well, find another solution. and if you can resolve the legal uncertainty, we by no means want to leave europe, but we might have to. stuart: i don't think europe has a facebook of its own worth talking about. lauerland they don't. and i don't think facebook leaves, they just have to find a new solution. stuart: europe's a museum, not an ongoing prospect. check futures please. it's tuesday morning, i see
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green for the dow and red for the nas cac, down about 33 points. xavier becerra was the wrong choice for hhs secretary. that's not me saying that, that's a cnn analyst. watch this. >> secretary becerra has absolutely no experience. and it's not that he's kept a low profile, it's that basically he's been in the witness protection if program. [laughter] stuart: he's awol. you never see the guy, yet he's the man running our country's covid response. even cnn if wants him out. ford's all all-electric cargo van gets on the road today. can it compete with rivian's delivery van? i'll ask the president of ford americas. he's on the show right after this. ♪ get out of my dreams, get into my car. ♪ get out of my dreams -- ♪ get in the backseat,ing baby. ♪ get into my car ♪♪
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♪ need you with, need you, need you -- lauren: of it was the electric slide, the ultimate sweet 16 song back in the '90s right before the mack a rain that. stuart: i don't remember this. electric slide? lauren: most of your viewers dance to this at weddings and the like. stuart: we better move on. i think we were just showing you flint, michigan, where in detroit it is 23 degrees this morning and, be by the way, ford has begun shipping their new ford pro e-transit vehicle. the president of ford americas is with us this morning, he joins me now. sir, sell me if one of your e-transsents. what's so good about it -- transits. >> oh, it's a fantastic vehicle, stuart. first of all, thank you for having me.
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it is, we know these customers very, very well. we know their needs, and is we know most of them, a lot of them want to reduce their own co2 footprint. so it was time to take our best selling transit and make it electric. it comes in three different roof heights, it comes in three different lengths. one of the things about our commercial customers is they are very tuned in to cost of ownership, so they don't want to carry around a lot of van they don't need or a van that doesn't meet their needs either. so it comes in three different heights so if you're tall and you need to walk around in the back part of the van, you can be 6-9 and comfortably walk around. but if you don't need that much space, it comes in a medium height, low height, so very flexible, great cost of ownership, great pricing, very, very successful. stuart: how much, kumar? how much? >> we start at 43, a little over
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$43,000. stuart: so i can expect to pay 60 to get out the door. i mean, let's be reasonable, i'm probably going to be paying 60 for it, right? okay. now then, how about the rivian? are you competing with the rivian january, and if so, are you better than them? >> well, let's go to our record. it's a van that is extremely successful globally. it's one of the best -- not one of the best selling van in europe, it's the best selling van here. so back to we know our customer base really, really well. and we're designing for them, and i think that strength will carry into from our internal combustion transits into our battery electric transits as well. stuart: the ford f-150, the lightning? can you meet demand? i understand there's enormous demand for if it -- for it. >> the response has been tremendous. we have over 200,000 orders. and ever since we launched, we've been increasing capacity,
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we've been breaking capacity constraints for that vehicle. by the end of next year, we can have a run rate of producing about 150,000 per year. so it's been a great success, and we're breaking constraints as quickly as possible to bring these vehicles to our customers. stuart: may i ask just one last question? that is, when you come to sell your battery-powered car, your ev, you bought it new, now you're selling it, does it have a good, strong resale value? because the battery would be surely in need of replacement of some kind of bigtime service. >> yeah, that's a good question, stuart. so we are designing the batteries of to have excellent battery life throughout the user cycle of the vehicle. it does decline a little bit as you charge it over multiple charge cycles through its lifetime. buts that is something that will hold its value. and then, of course, at the very end of the cycle, you know, it could be ten plus years, we're
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working on other ideas of how could we recycle that battery, and how could it be used for secondary purposes. stuart: thank you very much for being with us today. congratulations on the e-transit shipping out today. many thanks. >> thanks for having me. stuart: sure thing. all right. to canada. the freedom convoy parked, so to speak, in ott ottawa -- ottawa. they just told, the truckers were just told that they can't bow their horns for ten days, i believe. lauren: correct. again, vaccine mandates. they got rowdy at times, loud honking of the horns and then the air horns. the residents filed a lawsuit, and a judge has ordered a 10-day ban on that noise. stuart: i think that's fair. lauren: i compare that to the banking and clapping for the -- banging and clapping for the health care here roar e hasser in -- here in new york?
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stuart: and now with firing those very people who won't get the vaccination. >> they said, okay, give usive minutes once a day where we can honk our horn, and the judge said now. i'm going to make the point the more you try to silence them, the more emboldened and bigger they become. you look at the ambassador bridge between detroit and windsor, it closed overnight, it reopened this morning. when you're talking about a supply chain, these people directly involved in it, the louder and more angry they get, we're going to have a major supply chain crisis coming up. stuart: if it comes to the united states. they're supposedly organizing something out of california to go to d.c. i'm intrigued, got to say. oh, look at this, the average price for a gallon of gas is going up about one cent a day these days. $3.46 is your national average price. but, lauren, jen psaki says that, what you see on your
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screen, that is not the president's fault. lauren: edward lawrence really pressed her on that. what is the administration doing to bring down the price of energy, and she mentioned everything that drives up the price of energy. listen. >> reporter: what about encouraging the investment in drilling in other places in the u.s.? >> again, i think the president's view is that we are, it is a huge advantage to us to be a leader in the clean energy transition. and over the course of years and decades, we've become a clean energy superpower. i would note again, and you can ask the oil companies this, there is land they're not all drilling on. every lease is not used. i'd encourager them to -- you to ask them that question. lauren: no regard for, you know, what consumers feel. and untiles -- also it's a national security issue because we're looking for oil elsewhere so europe doesn't have to rely on russia. stuart: the president blew our energy independence. lauren: on day one. stuart: we've got to go. thanks, lauren. i see green for the dow, red for
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the nasdaq. we'll be back. ♪ baby i'm sorry, i'm not sorry. ♪ being so bad got me feeling so good. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.
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loan. mark, i get the cities at this point impression that this bull market has paused. what say you? >> it has paused. the market's grappling with a lot of issues. it's dealing with hyperinflation, it's dealing with a fed that's gotten more aggressive, higher valuations especially on the growth side and, proand behold, some investor pessimism. you're going to see a choppy market. we don't expect that to continue. one of the things that gives us some optimism, however, is this rapid rise in rates. it's not sustainable. about 60 bits on the 10-year in the in two months? we can't see that happening again. as rates level out and pause and we digest this turbulence, i think we'll have a better second hawaii. stuart: okay. i read your stuff, and i know that you're big on insurance stocks. what is so good about insurance stocks? >> well, insurance stocks have lagged a lot for the past few
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years because the interest rates were so low, they're not making any money, and they're cash rich, their investment opportunities were becoming more narrow. i think a rise in rates gives them a boost, it gives them a tailwind. and they behave a lot like banks. you know, when interest rates go up, depositors, the borrowers get a rate hike. insurance works the same way. those payouts on insurance policies, the whole life policy, the guarantee they offer on annuity contracts, those are not going up as quickly as interest rates, and in the meantime, that helps their profits and that's why we like the sector on a broader level. stuart: okay. so your message is buy insurance stocks, they're safe at this moment, interest rates will not go up forever, they'll level off in the summer, rain in the second half of the year, the market has a new leg up. is that it, mark? >> well, that's largely it. but one point before you go out and buy any specific stock, you
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have to make sure it's good for your situation. but, yeah, look where it's going, and in this rate hike cycle, look for industries that will benefit from rising interest rates. stuart: and look where the yield on the so -- 10-year is right now, 1.96%. mark, thanks. we're going to take our viewers right there to see what happens at the opening bell. i'll tell you now, dow's up, nasdaq's down. here we go, it is 9:30 eastern time. let's have a look at what's going on. up 83 points on the dow industrials, 35,182. we'll fix that board, make sure we get it going when all a those stocks are open. s&p 500, down a tiny fraction, .06%. nasdaq composite, probably down a bit more than that. right now the nasdaq is down .21%. bottom line here is not a huge bunch of price movement at the opening bell. dow's up 100. how about big tech? only one winner there, and that is apple. all of the rest are on the
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downside. got to take another look at peloton, could well be the stock of the day certainly in terms of volatility. i woke up this morning, it was down 6%, now it's up 2.5 president. the ceo's -- 2.5%. the ceo is stepping down. susan, are they still for sale? susan: well, look, blackwell who pushed john foley, the ceo, is pushing for a sale. interesting names they have floated, sony, oracle, even viacom cbs,. lou: lemon could be thrown into the mix. but with john foley staying on as executive chair, bringing in barry mccarthy who is moving to new york from l.a., that seems to indicate to many that they're not going to be selling the business anytime soon. instead, we're looking for adjustments and improvement in productivity. so that includes 2800 job cuts. they're keeping all the instructors, all the content. they're killing plans for that ohio plant. two new board members coming
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onboard, and they're outing their sales fore -- cutting their sales forecast for the full year. as you know, with any sale it still requires john foley's approval if, and he still holds 80% of the supermajority e voting rights. so any sale meets his approval, and indications are he's not ready to sell just yet. stuart: that is a company in transition. susan: absolutely. but, look, it's above the ipo price. it traded below $29 for a long time. you've lost 80% of the value. this was worth $50 billion in the summertime last year, now you're worth $10 billion. stuart: that's quite a comedown. susan: it is. stuart: all right. pfizer reported this morning. i think they gave a kind of bullish outlook for this year, so i've got the stock down 5.5%. susan: poor guidance. not only for this quarter, but also for the full year of 2022. yes, i know, back sales are
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booming, pfizer expects to sell $54 billion in covid vaccines and pills, but what about the rest of the business outside those covid treatments? where's the growth? and what happens after the pandemic? you have to look at the business as a whole, and there isn't a whole lot of outside of covid. stuart: it's just a stock that didn't do that much -- susan: would you stop. 38 to 50. 80 percent gains, anyone would book that in any year -- stuart: i did better on microsoft. susan: well, not everyone can be stu varney. let's talk about hog, how about harley davidson raising sales, surprising wall street by making money over the holiday period which was really impressive. the stock is up 9.5. demand is up for its expensive bikes which means margin expansion. that's important. and don't forget, they're spinning out their electric bike business which is lower margins so they can keep the louder hog and harley davidsons. stuart game merricks, tell me
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about it -- makers. susan: we know they're hot especially after that microsoft/action vition blizzard a deal. take two might actually be a ripe takeover target. grand theft automaker, they gave a weaker outlook for this year, they missed estimates for net bookings that starts this year, and sales are not going in the right direction. stuart: as soon as you said that , i knew -- susan superyou knew that? [laughter] it's old. st been around since probably the late '90s or so? in this environment. stuart: can you tell me the significance of peter t. resigning from the board of directors of metaplatforms? what's the sentence for facebook? >> i think it's the fact that meta might be threatingen -- threatening sub-200. peter thiel, very successful venture capitalists, one of the earliest investors. he made that infamous $500,000
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investment which he turned into a billion dollars at least when he invested in facebook back in 2005, right? so i think this was something that both parties probably wanted. thiel, you know, he could donate to his -- he couldn't donate to his preferred candidates, and then meta/facebook employees didn't like his pro-trump politics. now, sub-200, do you think meta is a buy? stuart: well, when the high for meta was, what -- susan: 340. stuart: almost 350 and it drops in half to below 100 or close to it in half, yeah, i'd say -- susan: when people ask me about meta, i always say you look at mark zuckerberg because he is a fierce, fierce competitor and operator. he's been able to transition not only to social media, but able to see the future, and he thinks the big bet is the metaverse. so, you know, i never want to bet against mark zuckerberg. sub-200 would be something, i think. stuart: it's a buy at 199.
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stuart: -- susan southern i would think. wall street says 340 is the median estimate target price. stuart: if it drops to 199, yeah, count he in. let's look at tesla. i know that they kind of tweaked a steering wheel component dealing with, what, the chip shortage, i think. but they didn't tell consumers. susan: no, they didn't. this is probably more public information that was revealed in a recent report here, and they're saying that they had to manage the supply chain and the chip shortage somehow, and people were wondering how they put in record deliveries last year when general motors, ford and the other car companies were having problems finding those chips. so what they did was they cut out a steering component. but, you know, this was this tens of thousands of cars that were shipped to customers not only in china, but australia and europe as well. but, yeah, what happens this year, are they going to do the same thing the it's being revealed in this report? given that you have tesla saying they're going to produce and
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deliver about 50% more cars this year than they did over their record year of last year. stuart: they're going to have competition, and some of the competitors could be really, really good on though tesla's out front in the ev market, the competition is going to be sharp. susan: you have barclays saying nio could have 40% upside initiating coverage on that stock, so, yes, i think that's what people are saying. stuart: have we got news on general motors? down 5%. susan: we have a downgrade from morgan stanley. stuart: that did it? just a downgrade? susan: me -- yes, when it's from morgan stanley. target price is $55, but gm, we saw that with the report card, right, so they're going to -- they're not giving out dividends, they're going to reinvest that cash going all electric by 2035, and gm says they're going to have tough competition coming onboard, especially compared to last year and record car prices. stuart: let's round it out with
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cryptos. bit bitcoin was at 47,000 this time yesterday, now it's at 43. susan: okay. i wanted to actually talk about a lot of things in the crypto world. the bitcoins that were donated to the ottawa truckers, how about that? yes, that's right. instead of gofundme, they got $344,000 in bitcoin. but i also want to talk about technicals because people are talking about the fact that you rally above that 50-day moving average. and as you know in this algorithmic world which now dominates 75% of the market, once you hit certain levels, that's when the computers kick in, and you could see bitcoin, they say, back up to possibly six figures also the end of this year. stuart: okay. you see, you come in the studio, and all of a sudden you dominate the opening of the market. susan: i would say that i've added value with valuable information and an a sis too, don't you think? it's earned, stu. stuart: absolutely. [laughter] producers are urging me to move on.
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all right. thank you, susan. the latest group in revolt against covid restrictions. teenagers. high school students are stepping up across the country. we have that story. i wish they'd do the same in our colleges. the leading cause of death of americans age 18 to 45 not car accidents, it is fentanyl. why isn't it classified as a permanent schedule i drug? a congressman pushing for a big change is here. he's in the next hour. the democrats not giving up on more spending. they have got a min mini build back better plan for a near $3450 billion. larry kudlow is here, he's going to take it to pieces after this. ♪ hit the road, jack, and don't you come back -- ♪ hit the road, jack, and don't you come back no more. ♪ what'd you say? ♪♪
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♪ muck. stuart: i wish we could see some people on that pier, because they would be wearing hoodies and topcoats, because that's clearwater, florida, and it's only 52 degrees. lauren: topcoats? if on the beach in florida? sounds so formal a. how about a windbreaker? stuart: okay. let's get serious, shall we? the house has passed the $350 billion bipartisan america competes act. it heads to the senate. larry kudlow is with us. larry, i saw your show yesterday, and you really went after this america competes act. repeat what you said yesterday. >> yeah, i'd be happy to. listen, it was not bipartisan in the house. republicans voted against it with one exception, kinzinger, who's not really a republican. it was bipartisan in the senate, and that's most -- you know, 18
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republicans voted for it, and they should not have. listen, this is a big spender. it's like a miniature build back better. it's subsidies. let me read you some of the lowlight ares in this bill. national science foundation will receive $78 billion for research and development of innovative technologies. $78 billion. stu, the nsf if budget today is $8 billion. so they're going to go from $8 billion to 78 billion. really, i'd like to see how they're going to do that. 50 billion goes to an energy slush fund. that's on top of the energy slush fund in the so-called infrastructure bill which wasn't about infrastructure at all. stuart: what are they doing with, what do they do with an energy slush fund of 50 billion? >> yeah. well, actually, it's all about green new deal stuff. that's what they're going to do. they're saying, stu, in the name of supply chain shortages, to
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fix supply chain shortages, it's utter nonsense. the energy department got a huge slush fund in the infrastructure bill. is so this is crazy, crazy stuff. it has nothing to do with competing with china. but there's more wonderful things here. 50 billion to subsidize the chip industry. now, mind you, we're the world's leading chip designer. we're the world's leading chip manufacturer. we have already export controls and cfius import controls on foundry, chips manufactured in actual plants. taiwan semiconductor, which is the biggest one, they're already coming to america. they're building a $12 billion operation in arizona. we're just going to parcel up 50 billion. it's like the intel rescue act a because intel has fallen behind so much in recent years. i think that's absolutely crazy. 45 billion, here's another one, commerce department. $45 billion goes to commerce for critical goods.
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no one knows what a critical good is. but $45 billion. then here's one of my favorites, $3 billion for solar manufacturing. i don't know if you remember so lin solyndra -- solyndra. and then really to top it off, you know, this whole thing, $8 billion goes to the u.n. general climate fund. 8 billion,up. now, i ask you, what does that have to do with competing with china which is, you know, one of the world's biggest polluters? this is utter nonsense. and then, finally, bob lite houser, trump trade rep, pointed this out. their going to open up exclusions from the trump tariffs for american companies. this is just utter nonsense. you want to make america more competitive, stu? here's how you do it. make the trump tax cuts permanent, stop the biden regulatory and tax assault on business. we have record regulations.
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stop international tax burdens on business, leave 'em alone. reopen the u.s. energy sector, support the right to work states, worker freedom states, and continue the work that bob, robert o'brien and i did. stop the u.s. investing in suspect chinese companies where there's no investor protection and the money goes right into the chinese military which is run by the chinese communist party. most of these firms are. now, those are things that would be very helpful. stuart: yes, indeed. >> 350 billion more spending, more inflation, more money creation, it is utter insane, that's why it is build back better. you know what? save america, kill this little bill. kill this bill. in fact, stu, save america and kill all these spending bills. stuart: yes, yes. with you all the way, larry, and i'm glad you came on this show to repeat what you said on your show yesterday, because it's very important stuff. kill the bill. larry kudlow, we'll be watching
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you at 4:00 this afternoon. thanks so much, larry. >> thank you, stu. stuart: we are two years into the pandemic, but, lauren, you've got a report on people still hoarding necessities? lauren: because they've changed their behavior. and if retailers and manufacturers are making changes as a result. we're buying in bulk because we're used to doing that, that's habit, because we worry we won't be able to get supplies in the future, fear, because we think the price is going to keep going up, inflation, and because we moved to the suburbs, and we have more room to keep all this stuff. stuart: paper towels, toilet patient, plastic bags -- lauren: anything. even, you know, chips, crackers, mac and cheese. stuart: mac and cheese. yeah, okay, i got it. stuart: lauren: the fear that you won't be able to get more in the future. stuart: that's an interesting change in behavior which i had not realized. rumble offering joe rogan $100 million to bring his podcast to their platform. will he switchesome media
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stuart: the most expensive home ever to be lynx -- listed in america is going up for auction later this month. kelly o'grady is in los angeles are. kelly, why kid they -- did they put it up for auction? >> reporter: i mean, it all comes down to time, stuart. a house that's over $100 million, by the way, this one is selling for $295 million. it normally takes 1-5 years to sell. that auction cuts it down to just a few days. we're in the great room now, i be i want to show you this place. it's a quarantine paradise. i've heard it called the ultimate call fornication. you've got this moat that you can see that goes all the way around the home, you know, it's kind of like a palace. i'm taking you into the library here. i mean, this is where, you know, i think to myself, okay, who is going to buy this, right?
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it's going to be the middle ian mogul, the american billionaires, the asian mogul. and, you know, one of the things that i think is really interesting is it's not just the sticker price to think about, okay? the upkeep, the staff, the security necessary with the increase in crime we've been seeing. and then there are the taxes, right? this is what you have to think about when you're thinking about that expense. it's not just $295 million. the property tax on a place like this is 1.25%. if it, indeed, sells for $295 million, that means nearly $3.7 million in property taxes. >> you know what? i tell people the person that's buying this house is not going to care. that's just not -- that's not part of their reality. whoever's going buy this house is going to have a massive staff, massive upkeep, and that's just part of the game. >> reporter: now, the luxury real estate market is booming, okay? if last year 40 homes sold for over $50 million.
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that's a 35% increase over an already record 2020. stuart, we've been talking about the california exodus, but i guess that's not necessarily the case for the uber-wealthy. the listing agents tell me that they have more buyers than they can possibly fathom for the number of ultra-expensive properties. but, stuart, i kind of won the lottery on this assignment today. stuart: do they make you wear little slippers? is that what you're doing? >> reporter: yes, exactly. the marble is so precious that they don't want to damage the floor. [laughter] stuart: $295 million, i think you should wear slippers, that's good. kelly, thanks for joining us. >> reporter: fair enough. stuart: i've got tell everybody what's just ahead, and here it is the. wisconsin senator ron johnson, morgan ortegus who is now a candidate for congress and charlie hurt. 10:00 hour of "varney" is next.
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we are at one.96% on the 10 year treasury. we are close to 2%. the price of oil, $89 a barrel. now this. russia is prepared to drill for natural gas. they couldn't care less about climate change. europe is terrified of climate change and will not drill for natural gas. you see how boudin has leverage. germany in particular is beholden to the russians. when germany's chancellor visited the white house he was in a difficult position. president biden said the pipeline would be shutdown if ukraine were invaded. the chancellor was not as adamant. he didn't want to see germans freeze this winter but a week and president leading a week and nato facing russia with
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asia in the pacific. it is a dangerous moment. would it be like this if trump were still president? he made american energy independent. biden gave it away. it was a gift to russia. donald trump demanded europe defend itself and take america natural gas. biden made no such demand. donald trump negotiated withdrawal from afghanistan with conditions was biden's withdraw was chaotic. he looked very weak. three more years in the biden harris administration. charles hurt his with us. would we be in a situation of trump were the president? >>'s will be not. you can look at the deal with the lord stream 2 pipeline. president biden reversed donald
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trump's sanctions on the pipeline that would carry natural gas from russia to germany. we would be in a different situation if the united states was standing behind sanctions as opposed to giving russia what they wanted and tried to order them around. if you listen to germany's chancellor, president biden was adamant yesterday they were going to reapply sanctions on the pipeline if putin invaded ukraine but the german chancellor was not nearly as committal and it is always harder to put toothpaste back in the tube after it is out. stuart: they are reluctant to anger the russians. it is a divided nato.
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>> completely understandable. stuart: if they followed trump's advice they wouldn't be in this advice. >> the most important point. if trump were still in the white house we wouldn't be dealing with this. there's a reason putin invaded crimea last time president biden was in the white house, he perceived weakness. when he is met with strength he doesn't try this. he thinks he can get away with it and he appears to be correct. stuart: donald trump joined maria bartiroma earlier this morning. listened what he said about 2024. maria: will you be running? >> the polls say i should. i was in texas with 87,000 people showed up at the press refuses to mention the crowds. stuart: he is running, isn't he?
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>> the only thing that would prevent that is if there was an unexpected health thing that changed the dynamics but the issues that got donald trump elected in 2016, he ran on issues, those issues are still the most important issues, they would get him reelected if he ran again and the republican party would be wise to pay attention to those issues and focus on those issues. they would be better in politics if they would get donald trump reelected. we wouldn't be pulling with ukraine and boudin. we would still be -- if democrats want to claim we are the world's policeman don't you want them to be energy independent? donald trump fought so. gives us options.
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when you cut off those options this is the situation. stuart: gives you clout we no longer have. see you again soon. let's transfer our attention to vaccination mandates. this is a video. 300 new york city workers marked across the brooklyn bridge protesting vaccine mandate. the deadline is at the end of this week. how any workers could be fired? lauren: they've gone unpaid for 3 months, 3000. last-ditch effort to appeal to lawmakers, let them keep their jobs and get their paychecks. this is off the mystic of me. mayor adams is concerned about crime. if you look at that. they did receive an exemption. the mayor concerned about crime.
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a political and safety issue making sure the vaccine mandate won't affect the nypd. stuart: that is the way out. the board of supervisors voting on whether to fire 18,000 county employees who have not been vaccinated. 4000 belong to the sheriff department. 4000 cops in la. scott shelby is with us. i read your stuff. you say 33 million people left the workforce in the last year. that struck me as a large number. is it accurate? >> it is. 33 million since last spring. not quite a year. 4.3 million americans walked away from the workforce in december averaging 4 million a month since april.
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the great resignation, not sure what it is. i don't have an answer. whatever we are putting in the engine is not coming out of the exhaust. 10 million jobs open, near record high. we are at a record high of jobs but people looking for jobs are 6.4 million. all these people walking off the job. everyone wants to explain it with web design. or omicron. it doesn't take up the problem. when i would try to lose a few pounds, my father would say that like a suitcase on the queen mary. we have the same problem when it comes to jobs. even 500,000 jobs compared to 4 million people walking out of the workforce we won't get there. we are 3 million jobs behind peak employment record for the pandemic.
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stuart: we need them back. 33 million people walked away you have a supply chain crisis and the degree of inflation, how do we get them back? >> i have that feeling is it is not just adding up, lockdowns were adding up the first time around. you've got 33 million people walk off the job, 11 million jobs that need to be filled, losing 4 million on average a month. what is going on? every explanation i have gotten doesn't add up. that's why we have wage inflation, macy's shutting down, restaurants closing early. it is retarding the growth of the economy. this problem nobody is willing to say we have a problem. stuart: 33 million is a
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gigantic number. i'd love to stay on this subject. back to the market, the movers. lauren: the e-learning company. kids are in class. strong forecasts. they see acceleration of growth and forecasts. stuart: where is netflix? the oscars coming? lauren: down to there is of one%. if you ever saw the power of the dog, a dark western, it received 12 oscar nominations including best picture, the power of the dog. very dark western. not my cup of tea but i did enjoy the movie. stuart: kathy woods, arc investor. lauren: it is down one.5%. she sold 4 million shares,
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$182 million. she selling ahead on earnings. stuart: that report later. digital world acquisition, behind donald trump's truth apps down 2.8%. lauren: it was expected to lunch at the end of this month but was pushed to march 31st and it is hard to build on using technology that is not aligned with silicon valley. infrastructure that is anti-what the platform would be about which is complete freedom of speech. stuart: another video platform, joe rogan big bucks for his podcast. how much he could make if he ditches spotify. jamie raskin slapped with an ethics complaint overstock shares. he could soon be a top banking
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regulator at the fed. president biden adamantly defended germany as a reliable ally. >> president biden: germany is completely reliable. i have no doubt about germany. stuart: morgan ortagus takes that one on next. ♪♪ leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
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one.68%. president biden defended germany's reliability as an ally. >> president biden: one of the largest contribute is to ukraine has been germany. germany is in the forefront of providing economic assistance. we also asked, 70 questions i can't remember them all. in terms of the us media saying germany is not reliable, germany is completely reliable. i have no doubt about germany. stuart: morgan ortagus is with us. is germany reliable? >> if you listen to what the new german chancellor said he did not pledge to shut down norstream 2 of russia invades.
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yesterday ukrainian president zelinski was supposed to meet with the german minister. he canceled the meeting because they would not say nordstrom 2 would be shutdown. they committed an agreement with the united states, the biden administration gave him the waiver for the pipeline. they said they would shut it down. they agreed to this in writing when they got the waiver but publicly they won't say what they are willing to do. stuart: seems to me president biden threw away our energy independence and that was a gift to the russians that they are exploiting over ukraine. i won't status president biden's fault but his weakness led to this. >> donald trump sanctioned the norstream 2 pipeline. you couldn't make ukraine more
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vulnerable or make europe more energy dependent on russia. the trump administration was tough on russia, especially dealing with russia, has been week on this friends. the biden administration continues to confuse appeasing germany. what makes germany happy is good for nato and europe and that is not the case as we see in this ukrainian situation. stuart: stuart: donald trump said iran will have a nuclear weapons and 7 months. what do you make of it? >> it is possible. something donald trump said that i work for him is iran would have a nuclear weapon on his watch. he made sure they didn't happen. he pursued maximum economic
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pressure campaign and how do we get to abraham accords and middle east peace? donald trump said listen to this, this is a shocker. we are going to be tough on our enemies and reward our friends. stuart: you are running for congress in tennessee. you got donald trump's endorsement was what would you bring to congress? >> i'm the only trump endorsed candidate in this race. i represent a lot of people around the country. i'm a woman. i'm a mother. i worked my tail off in the trump administration to represent him around the world and the republicans have to take the majority back, secure the border and we need more pro-life conservative moms, the border is important, national security is important and you
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report on this all the time they are hurting because they make decisions about filling a grocery cart or their gas tank. stuart: see you again soon. bernard jones is dropping out of the georgia governor's race. lauren: to run for congress. on fox and friends earlier today. >> i want to do what i have been able to do for georgia, take back our country, stop the nonsense where they are trying to federalize elections, where our borders have been not secure, move forward on making sure medical freedoms are protected. lauren: he switched parties last year, he was a democrat and became a republican. he has the backing of donald trump.
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trump is supporting david perdue, governor brian kemp refused to overturn the 2020 election which is why he has the iron of donald trump. stuart: i am trying out what i got. democrat congressman jamie raskin was hit with an ethics complaint. this complaint is stock trading. who is stock trading? ashley: the american account ability foundation filed a complaint with congressional ethics office saying the democrat lawmaker waited, that his wife, sarah bloom raskin received in december. you may recognize the name of president biden's nominee to be the top banking regulator. raskin's wife received $1 million from the stock sale
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but failure to report the transaction is a violation of the stock act. democrat from maryland admitted and acknowledge the late filing but it happened before their son died in december of 2020 and that's why it was late. ashley: thank you. stuart: more students skipping college been before the pandemic. democrat governors starting to lift school mask mandate. these politicians own apology to the kids. that is next. that was quick. and rewarding. i earn 3% cash back at drugstores with chase freedom unlimited.
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in california lucky people pay $4.68. lauren looking at the movers. let's return to peleton. lauren: a 5% stake, pushing for sale and introduce new names, berkshire hathaway and oracle. this is not the end of the story and it will get interesting as palatine has a new ceo. are they rearranging the deck chairs for sale? stuart: when i woke up this morning it was $25 a share, down 6%. now it is up 16% at 34. out, surging. lauren: aluminum prices near record high. out, up 11%. remember friday up 60%, great numbers and forecast, now they are looking to raise capital.
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they are giving up 6% and offering $1.4 billion. stuart: take a look at this. a growing number of blue states lifting school mask mandates. look at was back with us, a new florida resident. >> my father-in-law is a fan of yours and is watching out is his last name. stuart: it is the prompter's fault. masks are coming off and you think democrats owe us an apology, you are not going to get it. >> i don't think we can let them skate on this. i think we should know the covid is now endemic. it will keep repeating. people were surprised when the northeast that had.
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i was predicting it all through the fall. let me make some of the predictions. this summer the south will get hit like they did last summer in the summer before. in the winter the northeast will get hit like last winter in the winter before. if we let them remove masks, when these happen again they will rush back to their security blanket that never worked. we need them to face the fact the masks were irrelevant for spread. it heard kids, it will harm kids going forward and we need them to face it. stuart: maybe we could do something about xavier becerra. you never see the man. he is in charge of the covid response. shouldn't he resign? >> everybody involved in the covid response to resign. the white house is unhappy with his performance.
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everybody involved, fauci, rochelle will in ski, everybody involved in the covid response is an abject disaster. people still waiting for rapid tests that haven't arrived yet and the spike decreased by a lot of everybody had a democrat in these tests have not arrived it is a perfect example how the administration is handling covid. stuart: i don't think there should be mask mandates or vaccine mandates. >> absolutely, i agree. i am vaccinated. i don't think it is appropriate to force anybody to get vaccinated or your job should rely on it. i stand with canadian truckers. we need sanity going forward. we can't let governors say no
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more mask mandates. something bad happened here in these governors were responsible. stuart: you came on the show when you moved from new york city to florida with your family. give us an update, your families in school, no masks. stuart: >> they haven't seen masks since their plane landed in florida. everything about their childhood has improved, absolutely credit the state of florida and the governor, ron desantis. i credit floridians for taking a stand for normalcy and understanding this cannot be beat with good behavior. it is here to stay and we need to learn to live with it. stuart: you get any hate from your former friends, colleagues in new york city?
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>> a lot of say where should i move in florida? potentially want to follow. i'm still fighting for them. i want all kids to have what my kids have, freedom and normal labeling intensity available. you shouldn't have to move for your kids to have a normal life. stuart: i hope i got it right, see you again soon. thanks to your family. more than 1 million fewer students in college compared to before the pandemic. has this got to do with strict covid rules at some of these colleges? >> that's why students are not pursuing higher education, strict covid protocols, red-hot job market and rising cost of
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college education increased 5 times the rate of inflation over the past 50 years. a new study estimates these 1 million students will miss out on $1 million in lost lifetime earnings, imagine 1000 bachelors degrees lost, almost 40,000 doctorates. the data shows only four states account for half the national decrease in college enrollment. company, new york, ohio in texas. >> where you see steepest declines happening in areas hit by the pandemic where you saw
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significant populations, in underserves first-generation communities. >> this trend could hurt all of us. people without higher education are more likely to live in poverty. they pay 45% less in taxes according to the college board. to be sure, higher education community is feeling the pressure. colleges are having trouble filling seats. they may be reconsidering how to make college more enticing. stuart: make it the college experience you are paying 4. back to the markets. 43,$000 a coin. this time yesterday we were 47 or 48.
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the dow is up but nasdaq on the downside. big tech, almost all of them down except apple which is $0.11. the 10 year treasury yield close to 10%. price of oil down. a long time democrat from brooklyn joining the republican party. can a republican win in new york city? he is on the show at 11:00. ukraine faces a russian invasion but the energy secretary says clean energy will solve our problems. >> tensions between russia and ukraine pose threats to the energy security of the european union and friends and partners. this underscores the benefits
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$3.46 across the country. that is one dollar more than it was a year ago. edward lawrence, you asked jen psaki what the plan is to reduce gas prices. what did she tell you? >> reporter: the us will lead the transition away from fossil fuels, no new answer how the administration plans to get oil and gas prices down. the strategic petroleum reserve, it will take time to work through the system. we are paying more for gas, the price of regular unleaded up to sense to $3.46 a gallon. i followed up my question regarding energy independence. >> what about encouraging investment in drilling? >> the president's view is it is a huge advantage to us to be
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a leader in the clean energy transition. we have become a clean energy superpower because that's not just where the jobs are but the strategic advantage. >> reporter: the labor to permit of the interior to raise royalties for drilling on federal lands. reversing a trump era policy widening the land in alaska that could switch future oil supply and the president banned any new leases for drilling on federal land. the us is producing 1 million barrels less a day since president biden came to office but the demand for oil has increased as the economy opened. stuart: you make a good case. here is a story i'm not sure about.
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they dumped the blockbuster sale of farm to nvidia. why should i care? ashley: it is an interesting story, back to you. the cash and stock deal was announced in 2020. the us federal trade commission sued to block arguing it could hurt competition. it's about monopolies, antitrust. the deal faced scrutiny in britain and the eu which would raise if eyebrows and hasn't received approval in china. the sale has been shelved with some receiving $1 billion pickup -- breakup fee, they brought it in 2016 for $32 billion, softbank and this
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is the interesting part, the technology arm has powers apple's iphones and all other smart phones, it will likely take arm public in the us on the nasdaq but that is a very important part of the story, they have technology for smart phones. stuart: why should i care and you told me why i should care. tell me about tesla. tesla sued by the sec again, about musk's crazy tweets. ashley: they issued a subpoena to see if that is the is complying with a settlement, musk and tesla were find $20 million and musk relinquished his chairmanship after that sweet in which he
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said he secured funding to take to the private. the latest subpoena came 10 days after muscular twitter poll asking if he should sell 10% of his stock. the stock went down significantly. another, he wrote to the's stock price is too high in my opinion. tesla put on notice it will face a civil complaint from california's of the right agency following allegations of race discrimination and harassment at tesla facilities. people lining up to take a shot. stuart: he sets himself up as a target. the racial discrimination charges, racial discrimination and tweets. he shouldn't be doing that. the irs scrapping its plan to
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use facial recognition to access your tax returns. we have details coming up. fentanyl the leading cause of death among americans 18 to 25 years of old. greg murphy says best way to get the drug crisis under control is secure the border. he joined me next. mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates
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stuart: life pictures from part of the freedom convoy protest. you are looking at the ambassador bridge. it connects detroit and windsor, ontario. protesters are blocking the bridge. can you say supply chain problems? the market, 130 point gain, up 6 on the s&p, plenty of green on the left-hand side of the screen. from 2015, fentanyl has killed 219,000 people in america. the leading cause of death 18 to 45. congressman craig murphy joins me now. you want it to be considered a
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class one drug permanently. why isn't it now? >> the issue is democrats kept putting this off, you can have a molecule be illegal but as the drug cartels change the molecules and it is not illegal. we are trying to say any of these substances are illegal and democrats don't want to do this because they want to continue their soft on crime mantra. there are mandatory sentences for these illegal substances which are killing thousands of americans every day. the true fentanyl to halt the nonsense because killing america. stuart: you are a doctor.
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the answer is to close the southern border. >> if you look at the past year, 100,000 individuals die from overdoses and if you look at the southern border, 80% of these drugs come in this way and they are screaming they have cost more fentanyl, drug cartels don't work at a loss. if you see the increase in overdose deaths and the cost has dropped 50%, we know the american border is being flooded. we have to do something about this. if you look at how many have died from overdoses compared to those who died from covid, twice as many individuals. we are not addressing the real issue. we tried to send a letter to
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mister mayorkas about this and got nothing back. it is a sad state of affairs. stuart: many people who died from overdose didn't know they had fentanyl. they thought they were purchasing street drugs cut with fentanyl. is it made in china and go south of the border? >> yes, precisely. it is made cheaply in china. two of every five drugs laced with fentanyl, that is leading so many to die but china is flooding the country and here we are, china is killing us in so many ways. stuart: they could stop it if they wanted to. thank you very much for joining
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us on an important subject. we told you about the irs using facial recognition to verify taxpayers id. they are backing away from the plan. neil: privacy concerns. a contractor was criticized because they were selected as a gatekeeper between americans and public services when they couldn't vouch for how they did this. if we are going in the direction of facial recognition, their technology, their computers are 30 years old. nonetheless, facial recognition would have been used for identity verification. if you want to check your stimulus payment or child tax credit you wouldn't need that to get your refund. stuart: it would have been secure and now we are not going to use it. passwords? lauren: i guess so.
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stuart: or and i scan. lauren: factoring in identification. stuart: wisconsin senator ron johnson, katie pavlovich and joe concha on deck. democrat states in retreat because in my opinion there is an election and they know that voters are not happy and it is time for public pressure to get rid of vaccine mandates. that's "my take" next. ♪♪ ♪♪ ♪♪ ain't no stopping us now ♪♪ ♪♪ i know ♪♪ ain't no stopping us now ♪♪
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>> the issues that got donald trump elected in 2016 are the most port dishes out there. they would get him reelected if he ran again. >> you want to make america more competitive, stop the biden regulatory and tax assault on business. we stopped the us investing in suspect companies. >> 30 billion people walk off the job, where the workers? there is a problem, no one is
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willing to say we've got a problem. >> slowing growth is not no growth. the economy is about to go off the rails but overheated economy beginning to normalize with an embrace of growth. stuart: 11:00 eastern time, tuesday, february 8th. not that much, the dow is up 35,200, nasdaq is up half of one%. all are now positive. show me johnson & johnson, down a fraction. new york times reports they stopped making their covid vaccine. no reason given for this temporary stoppage. big tech almost all of it down.
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microsoft is up a fraction. amazon is up 11. the rest are down. the big tech stocks are in trouble. the yield has gone up to one.96%. now this. when it comes to wearing masks, we the people are in front of the politicians. democrat states are in retreat. there is a series of mask violations by democrat politicians. it doesn't go on well. it is truly laughable. get off my back. new jersey, delaware, all retreating from their mask mandate. and democratic california a partial entry.
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governor tom wolf in pennsylvania allowed schools to make their own mask decisions. governor huchul may follow suit. there is an election in 9 months and they know voters are not happy with restrictions on them or their children. time for vaccine mandates. the truckers are pointing the way, american truckers will deliver a similar message. the sheriff office is about to lose 4000 officers because they are -- not jabbed. fireman in charge, xavier becerra, if the president fired him and blamed him for this. a great moment, getting our freedom back. third hour of "varney and company" just getting started.
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katie pavlovich is back. i just expressed that they see trouble in the november elections. you agree? >> absolutely true. the pandemic restrictions have never been about science. if they were they would follow from the entire time. they've been breaking their own restriction since summer of 2020. in an election year a couple months post elections of november of 2021 and there trying to save face before the midterm elections, so governor phil murphy was supposed to have a blowout election in november. turned into a nailbiter.
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governor glenn youngerkin campaigned against grace. education and highly restrictive covid policies in virginia schools. if you look at the response for democratic governors pulling off these mask mandate in new jersey, delaware, california. there is not a lot of pushback but when youngkin announced he would remove the mask mandate in schools and the democrats decided to sue over it. this is political, has been political since the beginning. they are trying to say the science has changed, that's not true. they are changing their policies because the political science has changed. stuart: there's more. high schoolers are protesting vaccine mandates at the cheerleading championships in new york.
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in chicago students protest mask mandate. teenagers appear to be in revolt. why aren't college students doing the same thing? >> college students, high school students are very brave, on the right side of the science. when it comes to mask mandates, they were unnecessary, schools could be open. we've known this virus even in its early stages rather than the omicron variant, the impact on young healthy people was negligible and they were safe in their schools. instead two years of these policies that destroyed the future of a number of children, for the country behind, students are saying enough. if you look at the age group of
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high school kids they are missing championship games, not being able to go to college in person or having vaccine requirements to go not in person but online as they pay enormous amounts for tuition. they understand it is a rip off and the science behind the vaccine mandates especially for young people under the age of 40 don't add up to following the signs for protecting them but government control. stuart: 1 million college students fewer now than before the pandemic. 1 million fewer. amazing. i'm pleased to say in my opinion these restrictions are falling apart and will continue to fall apart because we are through with omicron. >> politicians realizing there should be accountability, to
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keep government control far longer which destroyed people's lives. they were never beholden to the same policies. stuart: we will see you soon. recheck those markets. the dow, 200 point gain. a nice move up in the last few minutes. nasdaq up 76. i want to bring in luke lloyd. i want to talk cryptos. why does the crypto situation at the moment remind you of the dot.com bubble. >> i'm watching ozark on netflix and the first episode reminds me why bitcoin is so important. if you want a large amount of money it would be a huge struggle, the same reason bitcoin makes governments mad,
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they will come after crypto, the whole crypto market shows signs similar to the dot.com bubble. a lot of people lost a lot of money. you will see the frost, bitcoin and ethereum will get hit but they should come out stronger. stuart: a few will survive stronger in the end. you are looking at continued volatility. how long on the market? >> the foreseeable future and more after that. the biggest tip i can give is stop trading headlines. you will get absolutely wrecked. the amount of economic growth we saw over the past year is unsustainable.
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2022 will be the year of recalibration. after looking at gdp the growth came from inventories. that doesn't excite me. businesses are betting consumer demand stays strong. i don't see how that could happen when pockets are empty by inflation and every policy between higher interest rates and higher taxes kill demand for the consumers. stuart: doesn't sound like you are enthusiastic about the market or the cryptos. let's look at movers. i want to look at apple. >> apple moving in on blocks square territory. we can literally exchange payments by tapping each other's iphones. you wouldn't need the -- between people and businesses. stuart: isn't it a bit like
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demo? i can send you $10 and you can send me $10. lauren: you insert debit or credit card into the terminal so that would eliminate the need for the terminal. you could keep your credit card away. stuart: apple is working on a system where you have an iphone and i have an iphone. there we go. amgen is up 6.8%. lauren: better revenue thanks to manufacturing covid antibiotic treatment for eli lilly, moving in the other direction. they promised their covered vaccines down 13%. they deliver a small amount and some are reconsidering their orders and they filed for
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emergency use approval. stuart: the house could vote on stopgap spending bill as early as next week. we will tell you what will avoid the government shutdown. senator ron johnson accused of being out of touch with voters when he said he would not fight to bring new manufacturing jobs to his state. board of regents seized 200,$000 of methamphetamines this weekend. skyrocketing smuggling on the southern border. next. ♪♪
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stuart: the us has started to test robot dogs on the southern border to reduce the risk of humans in rough terrain. these 100 pound robots can never get steps, stairs, steep hills and scare people too. smuggling continues to skyrocket. troopers in texas intercepting human smuggling attempt and intercepting large amount of drugs. the latest please. >> reporter: exactly right. smuggling incidents off the charts in the rio grande valley, not just drugs or migrants. this is video of chasing human smugglers in texas. they pulled the guy over, he
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has 7 illegal immigrants in his vehicle. that driver ended up having 100 photos in 30 videos of child porn, not just migrants but a large amount of child porn. he was arrested and will be prosecuted as a look at these photos of tucson, arizona where they had a huge drug bust. hidden in a tire was more than 100 pounds of meth which has street value of 200,$000. board of regents only catch a small portion of the drugs that come through the southern border. take a look at this photo, this is a sex predator from tucson sector.
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a mexican national who had a 2005 conviction of lewd acts with a child. back out here live, federal government has not released the ice annual report. the fiscal year ended september 30th, well over four months ago and this report has not been put out to the american people. ice enforcement, first time in a decade it has not been released before the end of the calendar year. stuart: come in, senator ron johnson from wisconsin. alejandro mayorkas is supposed to be in charge of the border. do you think he should resign? >> never should have been confirmed. he's not executing the laws. this administration's policies one of open borders.
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they know full well. vice president harris was unlikely when you heard testimony how human traffickers sell children to create a family unit to exploit ask simon -- asylum laws. the sex trafficking, drug trafficking, overdoses, gang members coming into the country. this is an enormous they dismantled the policies of the previous administration and now 2 million people encountered. they changed it from encounters from apprehensions to encounters. what they are doing is processing and dispersing 1 million people last year. alana number larger than 8
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states population. 6500 people a day. this is a crisis not being covered by the news networks because they are covering up for the biden administration. stuart: you never hear a word about it. they never ever mention it. only on fox will you get an accounting of this. i have to believe the open borders deliberate. >> we closed the border we were building the wall, a few months from completing that wall. it cost us more to not build the wall then complete it. why would you dismantle the biker and protection program but stopped the flow of families exploiting the laws? why would you do those things when you knew you were warned that if you dismantle those programs you would have a surge
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of immigration and it is not going away. i thought this was horrible, we solved the problem, president biden completely destroyed those programs and we have this out-of-control surge. the mainstream media is not covering this was they got the guy elected who campaigned from his basement. that is happening today. stuart: your critics are accusing you of not caring about wisconsin workers because your critics say you wouldn't fight to locate defense jobs to your state. what is your response to that? >> of course i fight for the workers of wisconsin. i always have. big supporter of that company landed billions during my tenure here. of course i'm supportive of that. one of the problems in wisconsin is we don't have
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enough people to fill jobs. 10 or 11 million jobs unfilled and the federal government paying these benefits making it easy to reengage the workforce and inflation, out-of-control deficit spending fueled a 40 year high hurting the working people, retirees on a fixed income, the democrats are purporting to help. in a political hit job by the mainstream media and democrats, don't believe were they say. stuart: they think you are going to win. that's an opinion on my part. appreciate it. check the markets. we are at session highs. nasdaq is up hundred and the s&p up 16. plenty of green, two hours into the trading session.
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paypal cofounder peter teal stepping down from meta-platforms. he has been there two decades. why is he leaving? ashley: to focus on advancing his pro-trump political agenda. the text our worth $2.6 billion became facebook's investor joined the country in 2005. his endorsement of trump in the national convention ruffled the feathers but mark zuckerberg, calling him original thinker, praising zuckerberg for his intelligence and conscientiousness. it is a lovefest. deal believe meta-following the meeting in may.
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stuart: let's look at crime, 60% in the last week. it is only going to get worse as the weather gets warmer. we told you about migrants using social media to get to the border. >> kept hearing from kids and adults, facebook will be coordinated logistics for a facebook. stuart: congresswoman,mac joined me next. ♪♪
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new play lists every week. i want you to display what is going on with nvidia. lauren: that's part of your repertoire as well. i want to talk about this $40 billion chip deal. nvidia is down to present in the early trade because of it collapses it would confirm, not a huge surprise and governments including in the us, uk, china, objected to the world's biggest chipmaker, the chips, the go into iphones and ipads. stuart: the whole point. the chipmaker makes these chips for phones. nvidia wanted to buy them. imagine them not wanting that to happen. susan: nvidia has $1 billion. stuart: they are made for the iphone. do you think the chinese want nvidia to get that?
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susan: with china as apple's second largest market. in terms of why not make the deal? it is worth $60 billion based on the current stock price. 1 billion and a quarter billion dollar breakup, they have to pay because of the collapse of the deal. stuart: they should see the collapse coming. susan: if you look at the stock price, not a big hit to the bottom line because it is firing on all cylinders. you doubled over the past year and graphics gaming is the bread and butter. if nvidia lose $1.4 billion it is fine. amd is up because the chipmakers are surging this
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year and the meme stocks have a lot of cash so in san diego, moviegoers back to watch spiderman. i want to show you tesla on screen, two senators send a letter to tesla about self driving software that i told you about last week. self driving subscribers, the car not stopping fully. stuart: will people go back to watching movies? lauren: depend on the movies. spiderman no way home proved a huge blockbuster can drive clouds. are you willing to go back? i'm not ready to go back to a theater. stuart: i would go back. don't make me cry, just make me
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laugh. i will pay. susan: shouldn't you pay in extra $15. thanks very much. susan: stuart: he would allow some imports of steel from japan. grady trimble is in arkansas where they are doing a groundbreaking for a steel mill. you spoke to the ceo of us steel. what is your reaction? >> pleased with the deal. because of the quota, imports up to a certain point but the tariff will kick back in. there were concerns doing away with the tariffs would lead to a glut of foreign steel on the market but he believes the weight is arranged it will be good for us steel companies like his editor credit not only
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to the biden administration but donald trump's administration who put these tariffs in place and failed to be negotiated first with the eu and japan. >> trump had an understanding how important it was to have steel, what we used to say is you can't have a country unless you are making steel, it builds so many products. he understood that and some important first efforts at that. commerce secretary ross and raman joe, they had a good hand off on this. >> reporter: steel prices hit record highs. they have come down a bit like a lot of commodities but dave berg believes those prices will level at higher prices are good for his company and also for
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investment in new mills like lanier breaking ground on today. it will be more energy efficient quote deal making capacity on site at the american jobs in arkansas. stuart: grady trimble, thanks. recently, congresswoman kat cammack returned from a migrant facility in donna, texas. you warned about cartels using facebook to organize migrant groups. what did you find? >> i got to tell you it has been a lot of questions and not a lot of answers as relates to facebook and their continued advertising across central and south america. i had spoken to illegals who came across the border, some as young as 12 is that i saw the facebook ads. i spoke to one young lady who said she was from honduras, received a targeted facebook ad
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with specific instructions with phone numbers and anyone on social media today could find them. the disturbing part, facebook when pressed could not tell me how much money they have taken from the cartels to advertise to illegals coming across the border. a simple search would yield amazing results for everyday citizens. stuart: i find it extraordinary that facebook could ban donald trump, he's not allowed on facebook but the cartels can advertise their business. can we do something about this? >> absolutely. republicans have a plan starting with section 230 reform, holding tech companies accountable. they are the new public square their advertising illegal activity. under any situation that is not lawful and we will make sure
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they are held for account for advertising drug paddling and transportation of minors across state lines. stuart: only fox covers the border. the rest of them don't want to know even with a story like this. kat cammack, thank you for sharing this. rumble wants to pay joe rogan $100 million to leave spotify. will rogan take the money? democrat in new york city considering another run for office. can he win? can he be a republican and when in brooklyn, new york? we will deal with it next. ♪♪ nothing changes ♪♪ never know what is going to happen ♪♪
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it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪
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♪♪ stuart: john lennon, new york city. great song. that is fox square, fox headquarters in new york city. my next guest was a long time new york city democrat who is switching to the republican party and running for his ultimately seat in brooklyn. he's running as a republican in brooklyn. he is in new york city council candidate. what made you switch? >> thank you for having me. so good to be with you. with fox. what made me switch is very simple.
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i just don't know what democrats of them properly recently. within the few years, safety and security, schools, homelessness, it just, every piece, every issue in new york city. worse than it was before. i joined this party in 1999. i was a recent immigrant. i decided at that time it was in immigrants party. joining the democrat party, the party was very different. needless to say, assemblyman was a right hand over republican rudy giuliani. it was a different time. i have been trying. i have been trying to change
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the party from the inside. don't do it from the outside. stuart: what is it about of brooklyn and the voters in brooklyn that make you think they will vote for a republican candidate like you? >> this show is about a lot of things but primarily numbers. elections are also about numbers. hard to believe because of the wave of democrats changing party or voting for the republicans in south brooklyn. russian-american community, irish american community, african-american community, a few for now but it is going to be more. numbers show it is doable.
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stuart: the nypd statistics show crime is up 60% in the last week. crime in the big apple. i call that a spike. it could get worse as temperature warms up. what your reaction to that? >> i believe when an elected official swearingen on safety and security, turning on the police on the very force providing safety, something wrong with this picture. i've always been with the police and military. i'm soviet born. in my district i had a military installation in new york city. i have always supported our men and women in uniform. i carry them in the assembly. i was a democrat, a deal
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calling for death penalty for the cop killers. that tells you something. conservative democrat -- stuart: i am out of time. great to have a brooklyn republican on the show. hope you can come back again. you will be back. look at the dow 30, a sense of the market, the dow is up 3 had a points and 2 thirds of the dow 30 in the green. remember when speaker pelosi said this about the elements? >> i would say you are there to compete. do not risk incurring the anger of the chinese government because they are ruthless. stuart: the famous shut up statement. the white house has responded
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woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. stuart: the american game association predict a surgeon legal sports betting for the super bowl. it is legal it in ten state and in many cases a 1 hour drive to
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make your legal bit. the association predicts 31 million people will put money on the game, up 35% from last year and will slap down $76 billion. that is up 78%. when i first came to america gambling was restricted the horse racing, times change. gambling is now everywhere. tom brady has announced his retirement intending at a possible come back. what is going on? ashley: never say never especially when it comes to tom brady. on his radio show he was asked about the possibility of returning to football. >> i will take things as they come. never say never. at the same time i feel good about my decision. stuart: most likely not. ashley: but maybe.
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good luck reading those tea leaves. he excited family and outside interests like his new apparel line is reasons for his retirement but there will be plenty of speculation for the next couple years. stuart: only 44. let's get serious. last week speaker pelosi told athletes in beijing to shut up. jen psaki is saying peaceful protests are okay. >> all athletes can freely express themselves. that is the case in beijing at the olympics. they will make those choices. we support the right to peaceful protest. stuart: joe concha, pelosi said shut up, enormous backlash, here she comes to walk it back. what do you make of this? >> mixed messages, par for the
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course considering the last 6 months with bills back better. i don't think the chinese care about any protests from any athletes because the money is coming from coca-cola which is a leading sponsor of these games, the same company that boycotted the all-star game because they buy the president's lie on voting rights being trampled and the state embracing jim crow 2.oh, it is harder to vote in delaware or new york and georgia. that the conversation for another time but no one is watching, viewership for the opening ceremonies down 50% compared to the winter a x, half the audience gone and that has to do with resentment towards china, their role with covid antivirus likely created in a lab in wuhan which is accepted by people even on the
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left and the government lying about it come millions of people dying since then. hard to watch this in separate covid and what china did. stuart: next one. rumble offering joe rogan $100 million to bring his show to their platform. not sure how this would work. would spotify led him out of the contract? i guess he does if they let it out of the contract. should he go? >> maybe there is a moral clause were spotify wouldn't have to pay him but capitalism coming into play big time. let's say spotify goes part way. the $100 million contract is one thing but rumble is saying we won't censor your episodes if you shine -- sigh with us
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but even without a corporate entity he has 11 million listeners a day. he can start his own podcast without being affiliated with any corporate entity. stuart: 11 million listeners every day. that is a market you can milk big time. joe concha, you are all right, see you again soon. time for the tuesday trivia question. which brand of liquor was most popular in the us in 2021. i can test those answers. we will bring ash in for the answer but i don't think any of those are the right answer. we have a controversy. we will be right back.
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stuart: all right, got a controversy here. which brand of liquor was the most popular in the u.s. in 2021? there is your four choices. they're all wrong. ashley, what's your guess, most popular liquor? >> protest and controversy aside, there is good ol' tennessee boy, jd, number two, jack daniels. stuart: reveal the correct answer please. bacardi that is absolutely wrong. according to ugov, however they are, i thought they were british operation, 54% of people had positive opinion. i'm talking about who sold the most, qitos hand made vodka
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distilled in austin, texas. i absolutely guarranty i'm right on this one. joe concha says i'm right. what more do you want? i bet we get emails on this. we might touch on this on the "friday feedback." we'll be there for that ashley. see you soon, ashley webster. right now, david asman in for titos. david: i'm for jack daniels, my bias is towards jack daniels. thanks for keeping us straight on this. i'm david asman in for neil cavuto a busy two hours ahead as we bring you headlines from coast to coast. markets turning higher as investors digest another round of earnings. we're all awaiting inflation data. that comes later this week. take a look at the 10-year treasury yield. down near 2%, hitting the highest level since 2019. with he break down
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