tv Varney Company FOX Business November 18, 2022 11:00am-12:00pm EST
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republican majority in the house? i think the jury is very much out on that. >> communities are worried about an open border. they're worried about fentanyl. democrats want to change the narrative and we're going to hold them accountable. >> it is a very strong narrative that was pushed by the senator and the chinese company. binance is not a chinese company and has nothing to do with china or the chinese government. meaux ♪ stu: it is indeed 11:00 eastern time and friday, november the 18th and dow is up 85 and nasdaq now slipped heading south down 24 points.
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big tech, previously all the big tech stocks were up and now only two of them are. meta and apple up, google, microsoft, amazon, down. have a look at ten year treasury yield, please. it's always important. 3.79% as we speak. back to the markets and mike murphy is with us this morning. there are five weeks left in the year >> it's a rally. >> i am. i come with ammunition to back up the statement. stu: go ahead. >> the market is looking at the fed and what the fed is going to do. they're already pricing in 50 basis points around the fed and any sort of positive news from the fed get as real strong rally, but i think typically, stuart, when i'm here and talk about s&p 500 and largest index and the dow is trading now after take down about 7% for the year.
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it'll be for money coming into the market and looking past interest rate hikes and what 2023 looks like when we don't have a fed raising interest rates. stu: what happens on the market if there is indeed pivot? >> big rally. absolutely because right now people are trying to figure out the messageship and whether it happens this week or next week or next month, the fed is going to stop raising interest rates and when they do, they're going to be focused less on rates and going higher and them trying to slow the economy and going to focus and negative growth and administration and now of 2023 and were poised of coming back into the market and that's all
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to the fact and that's the whole ball of backseat. stu: that's the game as well as profits obviously and the fed is pivotal and central. >> it's summing up and i don't fight about that and when the fed is raising interest rates and they're telling you, we want to stop the economy. we want to stop them and make up the economy. it doesn't work out so well? stu: all having brought and forget about it. lauren: lgbtq+ and make their
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markets clashed and bumble and down 60% this year and stocks have dried up and there were 150 billion in spac deals last year and maybe 13 billion last year and they're taking it away right now. stu: 447%, that's not bad. coin base. lauren: the price was 250 and was higher and cuts down higher demand for off price apparel and looking for a deal with inflation so high. >> lauren very much indeed. stu: hell athletics director no
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furry like a soccer fan being denied beer. the furry is being denied and a conservative muslim society has just banned the sale of alcohol to fans at the stadium. until a few hours ago, budweiser was scheduled to serve their beer at the game. now they get $75 million to go and they could sell their beer. it's actually another thing and the go governing body and why dd fifa award the world cup to the country that's baking hot. 100 degrees is not ideal soccer weather and he's accused of abusing them who built the stadiums and clashed with lgbtq
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people. top fifa officials will get their booze in their luxury suites. fifa plowed ahead. was somebody paid off? what a mess. soccer is the most popular sport in the world yet its governing bureaucracy is wildly acknowledged to be corrupt after this row form is a must. after this, reform is a must. hopefully fifa's problems will not spoil the games and best players from 32 countries playing a total of 64 games in eight stadiums, all of which were specially built. qatar made the effort and spent $220 billion. one last point, hats off to team usa. they are letting some of the napoli laborers that built the stadium train with them. look who's here? an athlete, sandra smith. no beer at the world cup, what do you make of that? >> i came after the set with bill hemmer and he said hi by the way. i was digging through this and i
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wasn't totally up on the elitist tweeting back and forth of the controversy of the removal of alcohol sales. hello by the way. i found this amazing. the ban could force fifa to modify its lucrative contract with budweiser. fifa says we appreciate the understanding and continuous support from ab imbec, budweiser's parent company. and budweiser tweeted out well, this is awkward in a since deleted tweet. stu: do you say they might withdraw this contract, $75 million? >> i didn't say that. would have to be modified, don't you think? here's -- let me give my honest take. stu: please. >> these soccer fans want their beers we get it. they want their alcohol. sports could use -- not going to be popular. the sports arenas could use a little less alcohol. stu: why do you say that? >> well -- stu: have you ever been to a soccer game? >> no one of these, no. it gets a little out of control;
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right? stu: what! of course not. >> i have seen at some american sports events people are overserved and you want to bring your family and kids and i don't know, dad seems to be agreeing with you, don't you have like ten kids? >> only six. but people are always overserved but i think for them to change this ruling on beers -- >> agree. agree. it's a little late in the game. stu: who paid off fifa? federation. who paid them off. why do we have this tournament and the world's most popular sport in a place where it's 100 degrees. how on earth did they do that? ftx bankman-fried said his talk after climate and sustainability was a pr and front to pull in money. i call that climate cynicism on
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steroids. what say you? >> i don't say that but i say how were there not -- it's one of those fridays that's been a really long week it feels like forever so i'm being -- i'm having fun with you but i've been needy for the story all week. i've got to tell you, why were there not obvious red flags to all these players involved whether it was every day investors and rich investors or tom brady and gisele that did these commercial spots for the company. what was this guy such a master salesman that he had all these people fooled? stu: he was a billionaire boy wonder. he snowed everybody. >> what was the wondered? >> everybody wanted to believe that it was true. everybody who had already invested and put their money in wanted to believe this could become this massive empire.
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>> it was worth over $30 billion and they took the money. >> he was clearly hiding his money and evading taxes by living and operating in the bahamas. think about the hypocrisy of that. lauren: had a huge conference seven months ago in the bahamas and 3,000+ months ahead and moderates a pal with bill clinton and tony blare. that shows, hey, this is credible. i'm legit. seven months later, he's not. >> what else does he have? stu: the show has a friday feel to it. we've gotten passionate about beer and soccer and sam bankman-fried and crypto. >> the dow is up 100 points. stu: we're out of time unfortunately, but we'll be watching this. america reports i got the name right. 1-3:00 p.m. only on fox news. >> you nailed it. stu: it was on the prompter, can't miss that. now this, one college renamed
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thanksgiving break in order to be more inclusive. apparently one professor thought thanksgiving was problematic. we'll tell you what it -- what he wants it to be called. lauren: i feel bad for chickens. stu: house republicans are vowing to investigate the biden family's business dealings. is that what voters want? endless streak of investigations? we'll get into it. earlier this week homeland security sec stair alejandro mayorkas said the border was secure and now he's changing his tune. >> we're sigh egg a significant charge at the border. stu: not much of a backtrack there. congressman jeff van drew is on the house committee and he'll react to that after this. ♪
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first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. 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. watch me.
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stu: isn't that nice, spice girls singing in the background on a very sunny day. 41 degrees though, kind of cool. new jersey knicksed creative safety -- nixed some of the safety messages on the side of the highway like slow down, this isn't thunder road and get your head out of your apps. don't take photos while driving and the feds told new jersey, take them down. some house republicans say their top priority will be investigating the biden family's
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foreign business dealings. new jersey congressman jeff van drew joins me now. congressman, does the public want a series of investigations at a time like this? don't we want to cool things down a bit? frankly to be very honest with you and some of the people at the highest level of bureaucracies at irs and et cetera and the biden family itself. the people with the top democrats and getting a good colon co colon op op and we neo
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have legislation that will conduct an audit so see what all that money is all going for there's a lot to be done and good legislation and lots of good investigation, lots of hard work and people got to stu: now in comes senator schumer and amnesty for everyone. 20 or 30 ml illegal migrants. what do you say to the amnesty idea? >> that's insanity on schumer's part. many of these folks want to
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change the entire fabric of the united states of america and make it another multination america is number one and america is the best nation in the world and we've got to be strong and we've got to correct so many of the things, including since we're talking about the border, we need a border wall. we need more police out there. more border patrol units and mexico policy and a return policy. stu: can you do that? >> we did it all. stu: can you do it now with the majority in the house, can you do the things you just said? >> no, we can say this is what should be done. we can do the legislation that should be done and the president vetoed it and we want to show people there's a clear cut
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difference. there's two directions to go here and time we chose where we want this country to be. we want a strong american country, do we want american exceptionalism or do we just want to be like any other country in the world. this is a time and place and i think biden will fail miserably at it and squeeze like a soft lemore ton get whatever we can and try to correct at least some of the situations and we need to do legislation and it's not just hearings but it'll be both and hard work and strung and it'll start showing people what's going on in washington dc. stu: tough to get legislation if you don't have the senate. >> i know it. i know it. stu: jeff van drew, republican, congressman. thanks for joining us, sir, we appreciate it. >> my pleasure. great to be with you. stu: department of homeland security is looking to turn away illegal venezuelaen migrants from getting into the country
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after the fall of title 42. what's the say, ashley? ashley: secretary mayorkas is looking to block venezuelaens from getting into the country and push back to mexico and they have till december 21st to wind down the use of title 42. mayorkas said other plans are being considered to expedite the process but didn't elaborate. more than 7 million venezuelaens have last their country fleeing political and economic turmoil but a judge found that title 42 was in his words arbitrary and capricious saying the government hadn't shone the risk of migrants spreading covid-19 is a real problem. stu. stu: thanks, ash. check the market, please. now the dow is up nearly 200 points and nasdaq is up 7 and s&p up 40 and i'm seeing green this friday morning.
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how about grinder this is a new ip that went public today for the first time going up 248% right now. just started trieding. what's going on, michael jacobson? >> i think this is really interesting stuart because the company talked about turning a profit or their path to profitability and i think that's why you saw a lot of money come into this stock but remember, the ipo market, the capital markets through ipo or spac has been shut and there's been no real deals coming to the market and we know that that window will open again and more companies are goal to the market again and what it takes to get that is one or two or three. deals that work well and grind service connected working extremely well so for people in the stock, it's a great move up. but you have to be cautious as an investor and if it continues along the path, the first of many strong ipos we see where
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there's a rush for investors to want to be in the companies coming to the public markets. that will come. stu: working or will come? >> working towards it. stu: okay, thank you. republicans want the green agenda to be the thing of the past. we'll report on that. for the first time in history, the united states will soon import more agricultural produce than it exports. farmers say it's putting their livelihood on the line. a report from new jersey after this. ♪
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out. there are some tickets on resale sites but the cheapest we could find is still $700. adel says she has "never been more nervous before a show in my career". sounds a be the like taylor swift with the demand for tickets there. astronomical. there she is. check the markets, please. we still have some green. it's getting better actually. the dow is up 180 but the nasdaq slipping to a fractional loss. susan is back with us. get back to your interview with the ceo of binanc e. susan: getting a lot of play on social media and twitter and this morning we're talking to him about ftx and the collapse given that cz, buy nans founder and selling of ftx's token kicked off the bankruptcy and asked what he saw and what does ftx mean for crypto?
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>> he was lying to everyone and i said this guy is going to be in a lot of trouble and most likely going to jail. i couldn't trust the data in the data room anymore. he has no more to lose. he's probably already in a bad position and he will do anything to lie to get our money in. susan: yeah, you have to remember that ftx sam bankman-fried reached out to binance and cz to buy ftx to which binance after they looked through the books said probably not for us. they saw the numbers and just didn't add up. now, we know that there's going to be a dc congressional hearing on the ftx collapse and binance was envieded and we asked cz if he's going. people are saying cryptocurrency is used by kidnapperring by those that are doing illegal things. maybe it should be banned here in the u.s.. >> there's bad players in all
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industries. meta is a very regulated wall street financing industry and those things happen. just because there's one bad guy doesn't mean you shut down all the other banks. that's not the right decision. susan: so let me correct myself because that was a sound bite asking about ftx. the uncovering of the books today and didn't record user investor transactions so ha had people wondering whether or not some of the crypto trades was for nenephrous activities. stu: that probably won't look good. susan: he's busy building things outside of the u.s. and has a finance u.s. arm that has its own ceo, which should represent the company there in dc. stu: doing a lot more good if he showed up, but that's just my opinion. >> that was a great interview by the way.
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>> stu: glad you asked the $64,0 question about the connection with the company. the u.s. is projected to import more agriculture projects than we export. high energy costs, inflation, labor all contributing to the problem. madison alworth on a farm in new jersey. is that farm where you are able to stay in business? >> reporter: stuart, they're able to stay in business because they've adjusted their financial market and scaled down their wholesale business and commodity side and not able to compete because of everything going on and the farmers here tell me that if there's not a larger change in politics, the entire u.s. agriculture system is in yep different the usda saying we're now on track to export or import more food than we export and that would be the first time
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we've been in the position here in the country and that furthers our dependence on foreign nations really setting us up for a difficult position here in the u.s.. you know when it comes to report farm, american political leaders need to wake up to the problem at hand. >> it's important for our leaders and politicians to step up and become aware of that and protect american agriculture. we have the ability to feed our people and feed the world and have a good position in the world market. but if the policies don't allow us to take advantage of that opportunity, it's december remittal to the industry and -- detrimental to the industry and small businesses and snagsal nal security. >> reporter: she says the current policies are driving up the cost of almost every input on the farm and diesel making every corner of their business more expensive. look at fertilizer. for them they're paying 45% more this year compared to last year. something hard for farmers in particular in the northeast,
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which i know, stuart you have a farm here as well, is labor laws and the cost of operating here. in new york, they passed legislation that has overtime pay for agricultural workers after 40 hours and joined other blue states, california, oregon and washington with this measure. you know, i spoke to moke here at ort farms and if similar laws are passed here here in new je. it would be detrimental to the business and wouldn't be able to pay the overtime and bad for the workers relying on the 50 to 60 hours during peak harvest season. stuart. stu: you got it, tell me about it. thanks, madison. back to you later. bring in energy ceo dan everhauss. the republicans have the house and what can they do to decrease the energy production. anything? >> they have a lot of tools that they can use when i think the administration is going to try and bat this back. i expect to see kind of a battle between the two things.
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look, what we need is we need more supply and we need to not go to foreign government -- stu: sorry to interrupt you. i know what we need. but are we going to get it because the republicans have now control of the house? they don't have the senate, they got the house. can they do what we need to do? >> ultimately i think we end up in stalemate but what i think the house can do is pass a rule that allows for drilling and offshore -- drilling and offshore lease program to happen again and they can pass laws that allow fracking on federal lands and these kind of things around the corners and the other thing we really have to watch for is because we spent 2022 emptying the strategic petroleum reserve, we've got to refill it in 2023 or are projected to refill in 2023 so that'll be government in the market competing against consumers which will push the price up. we need the house to come up with pro supply policies that
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the biden administration has to follow or the situation is going to get worse before it gets better. stu: i don't see much encourage want here because if you had the senate, it would be different. you can do some kind of legislation and you don't have the senate and only a small majority in the house. i don't think it looks that good for any real change in energy policy you can fortunately. unfortunately. >> other thing, stuart, you're going to have four or five republican house members from blue states that are hard to get and i don't know that it'll help that much. stu: okay, you gave $100,000 to trump reelection campaign. that was in the past. are you donating again this time? >> we'll have to see. i'm looking really hard at governor ron desantis and he's done a great job in florida and
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i think new momentum and new blood might be a good direction for the republican party and the country. stu: so you're thinking about trump but looking hard at desantis. that sounds like you're on the fence tilting towards desantis; am i right? >> that's probably a fair statement. i haven't ruled anything out yet. i don't know. i think it's awful early for 2024; right. ask herschel walker, we have stuff to do in 2022 but you've got to take a hard look at that the election. i'm strong and sit here today, stuart. stu: interesting that you save the best till last. you're not sure that trump can win. don't want to paraphrase you but i think that's what you victims said. all right. dan -- just said. dan eberhart, see you later, cheers. the university of notre dame will require students to get a covid booster shot next year even virtual students cannot
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confident in our legal authority to take out the program and taking the fight to the supreme court and borrowers can get the claire and relief they deserve quickly no matter how hard republican officials and special interests try and president biden will never stop fighting to deliver relief to working and middle class americans. biden's executive action for giving the student debt is unconstitutional". it's using up to $22,000 in debt and the debt payments for the eighth time and washington post disagreeing saying the president himself is calling the economy strong and allowing them to delay the federal student loans is a questionable policy when it began in march from 2020 and the depth of the pandemic crisis. it's a terrible idea now and the white house should not extend the student loan moratorium with
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mitch mcconnell on the senate floor. >> unleashing a reck less give away and would transfer even more wealth toward highly educated people. >> the university of georgia and georgia and more with stuart. stu: funny you should say that. thank you, lucas. the university of notre dame should require all students to get the covid booster and ashley, does that include virtual students? ashley: when you're on campus but, yes, when you're on campus and virtual students and students receiving e-mail monday that in order to enroll in the 2023-2024 academic year all of the students will be required to have a covid booster vaccine by march 1 of next year. i say all, the e-mail signed by the university with the director
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of university health services edward judkins and explained the new policy was necessary to proudly supports vent serious illness related to coronavirus and subhaven't. stu: it doesn't. >> open about vaccination and students to obtain their booster shot on cameras and it doesn't do that before the deadlines and has a hold to put on the university account preventing enrollment for the following semester and the news they're watching and more. stu: i this great respect for notre dame and having to think twice about that now. stu: one college renamed thank gives closure to fall break. university of alaska southeast reportedly made the change after a professor said thanksgiving could make some groups of people feel exc excluded and the schoos calling it fall break. got it? is it that important?
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first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. 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...
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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. watch me. stu: we have a full house today. mike, susan, lauren, ashley and myself all on one screen. >> barely. stu: first question for mark about thanks giverring, turk
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reigns leading, ham or beef. that's obvious. i'll start with turkey. i accept the tradition of eating turkey on thanksgiving but in england it's on christmas. mark. >> turkey. lauren: it's controversy. we make turkey and i have a bite. stu: what else do you eat? >> everything else on the table. the sweet potatoes, sometimes we start with lasagna. stu: lasagna? lauren: yeah, an italian thanksgiving. stu: susan? susan: start with pecan pie and the deviled eggs. stu: desert first? susan: yes. ashley: turkey and ham. i like a bit of both. stu: a gluten. this e-mail from al. i know you have an unconventional sleep schedule since you reported that amazon is expanding their drone delivery service, i was wondering if your estate will be a drone free zone? think the drones will wake me
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up? it's possible. it will not be a drone-free zone. i want delivery by drone out in the country. it absolutely works. anybody else wants to chime in on this one? >> drone delivery is coming and it's going to be great and free up a lot of space with traffic in the cities and country. stu: that was dull, mike murphy. we usually have funny and humorous responses and that was lauren: you're not invited back, mike. stu: get out of here. susan: anyone else here have an estate on the panel beside stu and murphy? >> i thought i was out. stu: not yet. terry writes this: we all know stu is a major beetles fan. i want to know his favorite beatles song many don't know. mine is anna. my favorite is i should have known better with a girl like you. what's your favorite, mike? >> here comes the sun. stu: good. lauren. lauren: draw berry fields -- strawberry fields forever. stu: susan. susan: i want to hold your hand. stu: that's so cute.
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ash.ash. ashley: has to be same with mike, here comes the sun. stu: yeah, that's a good one. ashley: has to be. stu: robert writes this one: it appears that stuart was correct in thinking that cryptocurrencies are gambling chips. i was so right. does anyone on the show owe or has ever owned crypto? we're going to go in reverse order this time. ash, you're first. ashley: nope, never thought about it, don't. stu: lauren. lauren: nope. stu: susan? susan: yes, still holes and sayses stu to susan lending transfers in the future. stu: forgive me for asking. i don't mean to pryor. which crypto did you buy? susan: again, i mentioned and only bet with money you can afford to lose and that's bitcoin, either and small portion of dogecoin.
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mike: never owned crypto and never plan to. stu: man, you're dull. three strikes and you're out. randy, who voted to keep randi wiengarten in power. i'm with you, mike. 100%. anybody else with me on this? lauren: i love teachers and respect them. unfortunately the unions need to reform themselves a bit here. stu: okay. you know -- i want to thank everybody for being on friday feedback today. i want to leave a little bit of time to talk about the world cup. lauren: oh, boy. susan: of course. stu: what do you mean oh boy? lauren: it all goes above my head. stu: it does not. starts on sunday and qatar has just banned alcohol. now, what's your real opinion on that, ash? ashley : i think it's ridiculous and another example of what a mistake fifa made.
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you asked the question of who got the kickbacks? probably everybody knowing fifa. i'm just very disappointed. having said that, i look forward to the games and just focus on the sport and i have two favorites: brazil and argentina. one of those two teams are going to win the world cup is my prediction. stu: susan, when you lived in england, you lived there for awhile. did you go to a premier league soccer game and have a drink during or after or before the game? susan: no, but i saw the high school begans in the bars afterwards. hooligans in the bars. you can't bet against germany. they've surprised you in the world cup and did that many times in draw the. stu: lauren, any idea who will win? lauren: france, i've been to a soccer game in brazil. stu: you have? lauren: i have. i could not tell you the names of the teams. i was drinking and it did get rowdy. stu: do you remember it? lauren: i remember the experience of it, not the game. i told you this goes over my head.
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where is america's oldest vineyard? there's your choices on the screen. we will start with ashley. what you got? ashley: i'll go with number four, maryland. stuart: susan? >> pennsylvania. lauren: pennsylvania. stuart: what's your name again? [laughter] i'm definitely going maryland. the answer is -- >> nice. stuart: it's located in the hudson river valley, races back its origins to the 1700s. >> apology accepted. [laughter] stuart: okay. hey, everybody, thank you very much, indeed. great performance today, all absolutely terrific. thank you, one and all. all right. quick check of the markets. we're up 157 percent dow jones industrial average. david asman in for neil today. david, see what i do for you? a modest rally, there you go. david: by the way, you know what i loved about that answer to the trivia question? it proves that stuart varney doesn't cheat. you don't look at the comper
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