maria: all right, a big thank you to dagen mcdowell and chris markowski. great to be with you both this morning. >> see you, thank you. maria: have a great day, everybody. see you here same time same place tomorrow morning dow industrial up 58 and we'll kickoff that two day fed meeting tomorrow morning. stu, take it away. stuart: by the way i really do agree with piers morgan on that netflix special. i think it was dead-right. good morning, maria.

maria: good morning. stuart: good morning, everyone. the revolution twitter continues the revelation is just keep on coming. today, the revamp of twitter blue. no bots, no impersonators, eight bots a months gets you that blue check mark after your account has been reviewed. the character limit, this is interesting, the character limit goes from 280 to 4,000. you could write a book on twitter, that's really different but most important, are the revelations about collusion between twitter executives and government officials. weekly meetings, michelle obama was one of those top democrats pushing for donald trump to be permanently taken off twitter. it looks like a conspiracy right before the election. tomorrow we get the consumer price index, and the appearance of sam bankman-fried before congress. wednesday, the interest rate decision from the federal reserve. it's kind of a wait and see market with a positive tone. dow up about 60, nasdaq up what,

27 points. the interest rate situation, it still points to recession. the 10-year treasury yield 353, well-below the two-year yield of 4.32. how about that? hardly any change for bitcoin, again. just shy of 17,000 bucks a coin. 16, 900 to be precise.f $3.26 a gallon for regular week. diesel averaging 4.91 still up a buck 31 from a year ago. mark this day in history. 42 years ago today, apple went public at $22 a share. it's now about $142 a share. 10,000 bucks invested in apple, 42 years ago, would now be worth $14 million. be thankful you're not in britain. a paralyzing snowstorm strikes disrupting railroads, 100,000

nurses about to walk off the job , junior doctors, midwives, teachers about to vote on strikes of their own right before christmas. oh, and yes, england is out of the world cup. harry cane missed that penalty. monday, december 12, 2022. "varney" & company is about to begin. ♪ let it snow, let it snow, man it doesn't show signs of stopping ♪ stuart: it's cute, isn't it? it's not snowing in new york city. it was snowing in jersey, six inches up at my farm upstate. anyway, good morning, everyone. starting this morning with a brand new batch of twitter files these are all about former president trump, so tell us, lauren, what does michelle obama have to do with this? lauren: she pressured twitter to stop enabling trump's most russ

behavior and permanently ban him so we got two additional data dumps friday, friday revealed twitter executives held regular meetings with the fbi, dhs, and dni, and even joked about that internally, saying things like and i'm quoting, very boring business meeting, that is definitely not about trump,wink face. that was friday. saturday, the twitter files shed light on why trump was banned and the decisions made by the select group, with personal political bias, and lopsided policy enforcement to keep and kick the former president off of twitter. stuart: thanks lauren, a pretty good run down of what we heard over the weekend. let's bring in congressman mike waltz republican from the great state of florida. congressman looks to me like a conspiracy to influence the election. what do you make of it? >> hi, stuart. well i think this is as bad as we all suspected, but worse, and what i want to know more

about were those meetings with the fbi, with the director of national ins, with dhs. unfortunately, i fear that lawyers at youtube and facebook and instagram and all of the other big tech companies are scrubbing their internal files right now, so i'm not sure that we'll get to the bottom of it, all, stu, but you know, i mean it's pretty amazing the links to which they were going to squash free speech here in the united states, yet those same executive s are the same intelligence agencies were doing nothing all over the world including the chinese communist party, or spreading their literally lethal propaganda threatening israel internal descent, squashing protests, and all kinds of freedoms. at the end of the day, look our laws haven't been updated since the 90s. they absolutely have to be, anti-trust i know is controversial but you are going

to see major action in this next congress. we've got to clean this up. stuart: well, i guess i shouldn't be surprised but this is not being reported elsewhere. fox is all over it but nobody else is. the media seems to be doing to these twitter files what they did with hunter biden, to suppress it, ignore it, forget about it, walk away. hope it'll go away. >> yeah, kind of a big shoulder shrug. what was the big deal with not allowing, you know, if you watch the mainstream media, this was christian nationalists and nazi simple christianers and pro-russia types and what's the big deal with keeping them from spreading their misinformation. that's the portrayal on the other side. we really need to have this debate nationally. we really need to deeply need to restore trust in our public institutions, and as long as mainstream media is going to

slam the brakes on this debate, then i fear for the future of this public discourse, but i tell you what, stu. republicans and congress are paying attention, very closely, and again, you are going to see action next year. stuart: congressman i want to deal with this quickly. former secretary of state mike pompeo heavily critical of the administration for the deal they made to get brittney griner out of russia. watch this , please, roll it. >> the trump adminitration was always very clear. we weren't going to trade bad guys for celebrities because it creates the wrong incentives for the bad guys as we go forward. it's not good for american national security. it's not good for people traveling ink across world. stuart: what do you say about the prisoner swap, congressman? >> the trump adminitration was also clear as they should have been. you get nothing from the united states as long as you're holding americans hostage. they made that an issue upfront and a criteria for any type of diplomacy, economic engagement, what have you. the problem here is this is a slippery slope.

celebrities around the world, americans around the world are now less safe because all of the bad guys have seen is they have nothing but upside by snatching an american off the street. instead, stu, we need to be raising the costs that you even touch the hair on the back of an american's head, illegally, the cost will be so high to you, whether you're a terrorist organization or a dictator regime, that you don't dare do it but instead, biden's running around trying to find the next concession for americans that were left behind. stuart: got it. congressman thanks for joining us this monday morning always appreciate it, sir, see you again soon. >> thank you. stuart: we've got another elon musk headline. what's he saying about the economy now? lauren: he says, and i'm quoting , if the fed raises rates again next week, which is wednesday of this week, the recession will be greatly amplified, so the fed is expected to hike for the seventh time on wednesday. that is 50 points so it brings the fed funds rate to between 4.25% and 4.5% so musk is saying

look this is going to hurt the economy. i see it on the head of all of these companies but i loved what i picked up from the bear, mike wilson, at morgan stanley. he says he calls the fed decision and cpi this week yesterday's news because it's all about what high inflation and high rates do to margins and earnings reports, so he says it's all about earnings. they are expected to fall and i think musk is seeing that as the head of all these companies. stuart: he's got a point of view , which he expresses everywhere and anywhere on anything. lauren: it's a little over-the-top lately. hard to follow. stuart: it's all over the place, right? look at futures, please? i see green dow up about 60, nasdaq up about 23 this monday morning. jeff sica is with us. why do you think that big tech is in trouble, jeff? >> well i think big tech on thursday hit a wall, and what that wall is, it's the federal trade commission run by lina kha n. they came out on thursday and they stopped the microsoft

activision acquisition of activision blizzard. they were worried that microsoft , they were offering $69 billion for activision blizzard to get , to increase their presence in gaming, and the federal trait commission came out and said that this would give them an unfair advantage, so what you have now is you have a very anti-business administration and you have a very anti-business federal trade commission. these tech companies, the way they grow is they don't do a lot of internal innovation. they go out and acquire companies. now you have a wall and that wall, from the federal federal trade commission is going to stop a lot of acquisitions. stuart: how about disney? a couple of months ago, you were down on disney. you didn't like disney at all but now i think you like them. what changed? >> well first of all they got rid of the ever-incompetent bob

chapek and brought in bob iger, who is a much, much better ceo and i think what they have, they have some momentum coming in now and i think what they have, we have the biggest blockbuster that's probably ever going to hit the screen in my opinion in five days -- stuart: what's that? oh, the avatar thing? >> avatar is hitting the screen and now keep in mind the first avatar that came out in 2009 made for disney and james cameron almost $3 billion. now they are coming out on friday, i think they are probably going to do $150 million to $175 million. they could potentially beat the old record. now, keep in mind, stuart. last year, the total gross for theatrically released movies was around 4.5 billion and it's now over 7 billion so disney is going to be able to capture some

of that momentum and i think now that the ever-woke bob chapek is out, not to say bob iger is completely in line with our conservative beliefs, but he's better, and i think he realizes that disney needs to take that iconic brand and do what they've always done, so i expect a turn around. stuart: we'll wait and see what happens. all right, jeff sica, thank you very much. here is what's coming up for you democrats won a slim majority in the senate after warnock beat walker. chris cristi pointing the blame "trump. >> herschel walker is his creation and so he's got to own the fact that herschel walker so vastly underperformed. stuart: we'll get into that. elon musk taking a page out of senator rand paul's book. he's going after dr. anthony fauci, we'll tell you what musk is saying about that right after this.

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stuart: elon musk's twitter blue service begins its re-launch today. this morning, i believe. susan is with us. what do we know about this? he's going to try to take on the bots? >> well i hope he does so bot control, elon musk waging war against the machines and the troll armies. this is impressive so small number of humans, he says, with large bot and troll armies, we are shutting down ip addresses of known bad actors today, and it should have been done a long time ago. absolutely agreed. now musk has always contended that bots made up around at least 20% of twitter's 200 million daily users, previous management said it was only around 5%, but you no one research group says that almost

half of elon musk's own follower s, that's 121 million, are fake, and that's pretty much the same across all of the big influencer accounts like kim kardashian and christianrinaldo hads who lost this weekend and the crackdown also coincides with twitter blue that re-launch ed today the subscription service that gets you a blue check mark, and it's pricey if you sign up via your iphone so $11 on your phone , $8 on the website and that's to makeup for the 30% app fees charged and for the monthly fee you get longer videos, half of the ads, also not just blue check marks you get grey and gold and that's to identify who exactly you are but do you already have a check mark on your account, right? stuart: i don't know. i don't have a twitter account but what intrigued me is you can have 4,000 characters. >> that's coming. i don't think that's necessarily , it's coming but i wouldn't say you can write a book. stuart: but it's a different use of social networks isn't it? >> so if you look at the

tweeteds, the tweet threads where you have like 10 tweets in one thread that's been very popular, so in this case you could just maybe do it all in one. stuart: one of these days i'll get an account and see if i can get a blue check mark. >> we'll teach you how to use it. stuart: thank you very much. look whose here now senator marsha blackburn, republican from the great state of tennessee. senator, i want to talk about this new batch of twitter files. they show twitter was regularly meeting with intelligence officials. seems to me that's a conspiracy isn't it? >> it certainly leads to a lot of questions, stu, and what we know is that the left figured out if they could control what you see , say, what you think they control how you vote, and they did not want to try to do this through the government, so they had twitter work with government agencies, or all of these big tech platforms.

you get -- what twitter has done is to lift the curtain, so that people are seeing what big tech was doing, the elites were doing to suppress information, to control what they put out, to try to tilt elections their direction and then be able to keep their hands off of it and no fingerprints. we were not here, and of course, when you look at the request of michelle obama and how they jumped to attention to carry that out, it just shows you the impact that elites have on controlling this and bear in mind 96% to 99% of all of their contributions, political contributions were to democrats and this was a non-monetary contribution. stuart: it's not just political censorship. musk is also taking aim at dr. fauci. the tweet, he tweeted this , my pronouns are prosecute fauci and

we're told there's nor covid revelation still to come in the immediate future so this is a broad based tell-all isn't it? >> it is indeed and i think now that they have james baker out of the legal office and he is not vetting the tweets and the e-mails and messages that are released, we will get a more fullsome review, but stu, it speaks to the reason as to why we need a federal privacy bill, why we need to reign in big tech why we need to remove apple and google as the controller of what you can put on to your iphone. their app stores right now control every app going on to an iphone or an android, and this is why we need to empower consumers so that they own the virtual you. stuart: i wonder if he will get

there. senator marsha blackburn, republican of tennessee thanks for joining us we appreciate it, always. >> thank you. stuart: quickly take a look at futures it's monday morning you always want to know what's going on and sure enough we've got a modest gain for stocks pretty much across-the-board. okay. i'm looking now at the dow up about 70 at the opening bell. we're going to take you to wall street, futures there you go left-hand side of the screen up 70 for the dow, up about 26 for the nasdaq. the opening bell is next and we'll take you there. ♪

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stuart: all right, futures still shows some green on the left-hand side of your screen and keith fitz-gerald joins me right now. come on, keith, you know this. it's a big week for the markets so first of all deal with the consumer price index coming out tomorrow. what do you expect to see? >> i'm expecting inflation to continue to rage. i think the conception or the misconception to be really precise is that prices will come down if that relaxes that's not true, you've got to invest

accordingly. stuart: okay, how about the fed meeting? they announced the rate increases on wednesday afternoon , i believe. what do you expect there? >> this is like playing catch with a catcher who isn't there. i think that they're going to be dumb enough to raise it 75 basis points even though the market expects 50. you've got to be into win which means the smart money is looking for bargains right now. stuart: so if you're saying that inflation is still raging, to use your word, and the feds going to keep raising rates, that sounds rather bearish to me >> well, it sounds bearish for overall economic conditions but it's still possible to be bullish with specific stocks, particularly if they are putting the numbers on the board. stuart: i want to raise the issue of china. they have made some changes to their zero-covid policy, which might be a plus for the market. omicron is described as just like the flu by a senior medical authority. it's going to be less testing and they've scrapped their track ing app. i would have thought that is

quite a big plus for our market. >> it is, but the narrative isn't quite put together yet. china is not doing this because they feel good or because they've suddenly had a revelation, stuart. remember how they work. they function by strategic deception. they are doing this because western markets hurt china's image. that's the one thing xi-jinping doesn't want so he's naturally going to suddenly relax and have a revelation about how this is impacting chinese business. stuart: so they still have a hard time still to come. >> i believe they do, but i think again, they've woken up to the fact that global markets think draconian policies are not good for business. what china cannot stand and cannot afford is big companies like apple, beating feet for the door. stuart: okay now as you know i do read your stuff and i know that you like costco. i like costco the store. you like costco the stock. tell me more. >> i like them both. you've got 120 million card holders, growth, new locations all over the place, 90 something percent renewal. that company is doing great

things and on top of that there's a special dividend probably in the works within the first six months of the next year so all in all i see it going back to 600. stuart: are they raising their membership fee? >> you know, i can't recall off the top of my head because i've looked at so many numbers but i think that's coming. that hasn't been set in stone if i have my facts straight today i haven't had enough coffee admittedly but between that and a special dividend and the renewal rates and growth i think it's a win-win situation. stuart: all right keith thank you very much indeed. susan is with me. >> on costco, because last week they had earnings and i listened to the earnings call and the cfo already mentioned that of course , membership fees will go up. they usually go up every five-to -six years and sam's club did the same earlier this year so you can bet that costco will be doing the same. unfortunately, for you and your membership fees there. stuart: somebody else pays my membership fee but i just like the store. that's the way it is as long as they don't put up the cost of the hot dog and the drink. >> that's right, 1.50. stuart: buck 50 at the moment.

>> also wanted to note some of the interest rate expectations because we are expecting the federal reserve meeting this week and did you know that 5% listen to that janet yellen "60 minutes" interview last night, we'll get to 5% is the expectation on wall street in terms of lending rates but then at the back half it could get almost 200 basis points, 2% cuts up until 2025 because of a slowing economy, because of that ramp-up in interest rates. stuart: that sounds like a positive for the market to me. >> in that it's priced in already in fed futures? i thought that was remarkable and this is the earliest in the cycle i think on wall street since the 1990s they are pricing in rate cuts already. stuart: rate cuts already very interesting susan thanks very much stay right there. >> [opening bell ringing] stuart: we've got about five seconds to go. the it is monday, december 12 and we're up and running 9:30. the dow has opened on the upside not a huge gain by any means, but it's up about 70 points, roughly a quarter of 1% in the

very early going. the majority of the dow 30 are in the green, including microsoft, which is this morning and i always like to point that out. >> of course you do, stu. stuart: the s&p 500 up a fraction, and the nasdaq composites up .14%. very very modest gains. big tech up mostly, microsoft apple and amazon up, alphabet, meta platforms on the downside, no huge moves for any of them. stay on microsoft. they just bought a stake in the london stock exchange. >> lse, so the 10-year partnership with the london stock exchange worth about $2.8 billion that includes a 4% stake i think it's an interesting deal because microsoft is trying to get more clients on board and that's to compete with amazon web services aws, and we just checked in terms of market share here in the u.s. , azure is still far behind so aws has 40% market share and azure has

roughly around 30% so it's interesting that microsoft is trying to get more clients on board and might as well take a stake in a business that's growing like the lse. stuart: yes, indeed. more trouble in the electric vehicle market. i see rivian pausing some of their plans in europe. what's the issue? >> actually they are pausing talks with mercedes benz in their planned joint partnership. now if you extrapolate it doesn't mean that they won't work together in the future but rivian, some would say they have their own problems here at home. they need to get 25,000 of those pickup trucks delivered and made this year, which they have already guided for , and in this environment of higher interest rates where you're trying to preserve cash burn, it makes sense for a lot of people they are trying to work on things here instead. stuart: how about amgen buying horizon therapeutics. this is going to be a big deal. >> yeah, so it's 116.50 a share so okay that's interesting. now, that's a $27 billion deal here, so we're still $6 below

that price, premium of 20% or so from the friday close, and it looks like horizon develops and we were looking through this , they are developing medicines for autoimmune diseases so they are a specialty biotech, amgen we know produces drugs that treat severe arthritis and it's interesting that we're having all these deals at the end of the year when interest rates are expected to go up so does all of a sudden all these companies and private equity groups and we'll talk about private equity yields after this are they finding themselves with extra cash at the end of the year and does that also mean we get a santa claus rally to end 2022 to start 2023. stuart: here is another of these big deals today. cooper software. >> so that's a saas company, that's software as a service, and i'll explain that so kind of like an oracle-type or let's call it salesforce, and toma bra vo is paying $81 a share in cash, have you ever heard of them so they are a large private equity equity group in san francisco and it was floated early that if elon

musk didn't buy twitter, toma br avo might have stepped into buy twitter, probably not $44 billion but as i mentioned software as a service, their margins are huge. everyone always talks about it 40%-plus margins and the fact that private equity still feels there are bargains out there in a rising rate environment slowing growth i think that's a positive signal. stuart: okay here is another one goldman sachs. >> you aren't going to challenge me on that? stuart: no, no, i don't have time. goldman sachs bullish on a handful of stocks including gap i believe what's so good about gap? >> so also again is this also counterintuitive in a rising rate environment and the fact that you do have again slowing growth and consumers being more weary of how much they spend over the holiday season and beyond. now goldman sachs upgrading gap and tapestry to a buy. they did downgrade levis to neutral but they are saying companies can thrive in an atmosphere that will see consumers become more discerning with their apparel spending. that means when you're discern ing you're still, stu

"varney" still buys his two pairs of gap jeans each and every year regardless of how much it costs in a high inflationary environment. stuart: i'm moving on to your favorite subject which is cathie wood's arkk etf. are people losing faith in her? >> yeah, well okay, if you look at her flagship innovation fund, it's down 80% on the year, right she did attract money in 2022 as a whole but in the last few months you've seen outflows. people finally taking their money out of ark and saying well we need to preserve cash so do you think and i think this discussion on the market, that the era of cathie wood like mary meeker in the early 2000s is that over and we finally have client withdrawals. stuart: i would not wish to express an opinion on that subject. i'll ask you the question. is the era of cathie wood over? >> i think there are other bargains out there especially when stocks are down and we're talking about high-tech growth speculative tech growth names that don't make money, sure, which is part of the majority of her ark innovation funds. if you can get those individual

names on discount, why not just go do-it-yourself instead of doing what we call a cable bundle type when you get all of them together and you have to pay for all those individual names or bundle names. stuart: brave woman though. she went right out there and pushed it hard. >> well, and i love female leadership on wall street and the fact she was managing at her peak $60 billion, its been incredible. stuart: on the prompter it says there's good news for people who want to buy an iphone. what's the good news? >> i was looking at the lead times, and today, it looks like you will still wait about 21-22 days for your iphone 14 pro, the top of the line, can which is pretty much in line with what we've heard before with other brokerages with the disruptions in china but did you know today is the 42nd anniversary of apple 's ipo. stuart: it went at $22 a share. >> that's right back in the 1980 i believe. right? stuart: december 12. >> you could have bought in but you decided against it but look five stock splits later 142000

percent up i think it's undeniable this is probably the most successful tech company in the last 40-50 years. no arguing because it's also the most influential on the s&p in 40 years as well. stuart: 10,000 bucks put into apple at $12 a share in 1980 be worth $14.2 million now. >> wow. and you did that all in your head just right now. stuart: i looked it up. you know me. all right, susan let's go on with this , look at the big board where are we? we got up a nice bit there up 130 points now, .4% to the upside, 33, 006 dow winners, top of that list, docusign on that list again. did well last week as well. microsoft and boeing also on the list. s&p 500 winners on your screens, apache is there, and i don't know that one. >> which one? stuart: last one. >> you don't know that one but you know what perkin miller is? stuart: no, i don't. >> very impressive this morning

, stuart. stuart: i'm not doing so well now. look at the nasdaq winners, docusign at the top of that list , microsoft is on the list, lam research not bad. here is what we have coming up for you. harmeet dhillon made her case to run against rnc chair ronna mc daniel on our show last week. watch this. >> i think a lot of the ways we get people elected are outdated. this level of failure is not acceptable to any republican i hear from outside the members of the rnc. we really need new leadership. stuart: okay, ronna mcdaniel will be here to respond to that later in the show. the holidays fast approaching, airbnb plans to crackdown on new years eve parties we'll tell you the new rules and anticipation building for ftx founder sbf gets ready to testify it's coming up tomorrow. we'll tell you what to expect. ♪

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stuart: crypto man, sam bankman-fried, will testify in front of the house financial services committee tomorrow. kelly o'grady has the story. kelly, can you tell us what to expect? reporter: absolutely, stuart. i mean, what you can expect is lawmakers to lay the groundwork in their case for regulation and this is set to be really contentious, so both sbf and new ceo john jay ray iii are on the witness list and remember the latter has already characterized the ftx collapse as the worst failure of corporate controls he's ever seen. the big question though is what will the disgraced founder say? so far, he's chosen his words very carefully, relying on a defense of incompetency and a chorus of out i don't know. >> not to my knowledge but i'm not sure. i don't know what they, you know , what they did with which pieces of assets. i don't remember the exact date. i don't know exactly off the top

of my head. i don't know exactly what procedures we used but i don't know. reporter: expect a lot more of that tomorrow, but the key questions you can expect lawmakers to delve into are whether sbf knew alameda was using ftx customer funds, where the missing money is now, and how he paid for certain things like bahamian real estate and perhaps gop members will question how the political contributions were funded. there's also another senate hear ing on wednesday lingering questions as to whether the former ceo will appear with senator toomey tweeting this out , "glad sbf will appear december 13 but senator brown and i are also expecting you at the senate banking hearing the next day" notably bankman-fried missed last week's deadline to confirm his attendance. it's an interesting test as we await potential charges, stuart. he intentionally drifts into trading when he tries to deflect blame so should be interesting to see what happens tomorrow. stuart: i'll need an interpreter to figure out what's going on. kelly thank you very much indeed look at big tech this morning

this is how they're performing and two winners and that be alphabet and microsoft. the rest are on the downside. ray wang, not only is he here, but the man is on set with me in new york right now. all right, this is good opportunity for me to pick your brains. what is your top tech pick for 2023? the stock that's going to go the furthest on the upside next year? >> hands down, tsmc, its got a 15 pe ratio down from before, what's really important two big chip plants are put in arizona. it's a $40 billion investment. they expect 600,000 wafers by 2025, but more importantly, they are one of the biggest beneficiaries for the chip act and the demand for semiconductor chips are still going to go up. stuart: that's in the future isn't it? they produce all these chips in america way down the road. >> oh, definitely but the stock at a much lower price, buy low, sell high. stuart: so the stock price in your view is low right now. >> yes. stuart: okay, relative to the rest of the market in its own previous performance. >> exactly. stuart: okay, hold on stay right there for a second. i want to do this story about

the new iphone, or the next iphone. the iphone 15. >> uh-huh. stuart: what do we know about it lauren: well the high end model they call it the ultra, and rumor has it that the starting model cost $200 more than the most expensive iphone 14 pro max. it starts at 1,299 and the highest version all loaded is 1,799. what do you get for $1,800? titanium frame which is apparently very expensive, 256 gigs of storage becomes standard , dual front cameras, i think that's gutsy of apple to be able to think people will pay that much for a phone and i actually think they are right. i think people will, but wow. stuart: ray wang, you think apple has that kind of pricing power on the iphone 15? >> i do. i think it's really important to get a high end, establish the high end to keep pricing on the low end and that's what they are doing with that. masters at pricing. stuart: i didn't understand the difference between the iphone 14 and the iphone 15,

more gigs of memory or something. spell it out. >> yeah, so the memory is the most expensive piece of the storage and then of course new cameras actually drives that so having dual cameras to the single camera on the front end and what they get is the dual camera that's true, what they get on the high end and of course i'm sure it's better battery life of course and better screens. stuart: but the judgment on apple stock next year is surely going to be how they get out of china and put iphone manufacturing into india and/or very" nap. that's the story for apple next year. >> it's partly the story but china reopened is also partially it if the covid lockdowns are truly being setup the way they are opening up that could actually help apple in the back end. stuart: we just learned this morning that china has moved away, it's scrapping the tracking app, less testing and the senior medical authorities calling omicron just like the flu. that implies they are opening up no matter what. >> yeah. they are opening up. what i'm really concerned about is the healthcare apparatus with

2.3 physicians for their population versus 3.2 we have in the u.s. in terms of the ratios plus they also don't have the healthcare facilities so we'll have to see it go through china first and of course come out. lauren: does apple stay in china though? >> apple long term has to stay china. it's 25% of their profit 18% of their production. stuart: okay ray, thank you for being with us good to have you in new york. >> thanks. stuart: a new episode of " american built" comes out tonight. it's about the bay area rapid transit system known as "bart" here is a preview. >> it probably be still on a shelf somewhere gathering dust if it hadn't been for one man, harmony lewis. >> lewis took that idea and ran with it and they plan to connect the sprawling city with more than 70 miles of commuter rail, to link oakland to san francisco , they would have to dig an unprecedented four-mile tunnel under the bay. they call the system the bay area rapid transit, bart, for

short. stuart: yeah. how about building a system like that in an earthquake zone. you can watch it all tonight 9:00 p.m. eastern on fox business prime. coming up, john kirby says russia would not trade former u.s. marine paul whelan for convicted russian arms dealer viktor bout. roll tape. >> there was never a choice posed by the russians. it was only ms. griner for mr. bout. nobody at the white house is doing backflips of joy that he is walking the streets. stuart: more on the prisoner swap with christian whiton, former state department official two weeks to christmas and last minute shoppers are looking to save big we've got the latest discounts for you. ♪

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lydia, are stores doing anything different to reach customers? reporter: yeah, stuart. they sure are. they are offering some really big promotions, and to give us an idea of what one small business here in new york city is doing we have deborah konesbu rger, thank you so much, deborah, for being with us. >> thanks for having me. reporter: you are offering deals somewhere in the neighborhood of 30% off some of your merchandise for the first time ever. why are you doing that now ahead of the holiday? >> well, i've been doing this for 34 years and i've never had to do it but this year its been with covid of course everything has been super- challenging but right now, it'll make the difference between making a sale and not for me and i know it, so i'm going to push for that. i have a lot of customers that are not here. they are wherever they are, you know, and communicating with them over social media and i just know that people love a sale. i have to be in the game and right now everybody is doing sales. reporter: do you feel like your customer is pulling back right now? >> 100% i know that she is.

i know that she's just being more careful about spending because she's kind of afraid of what's coming. reporter: right, yeah and it's because we know inflation has been running so hot for so long, stuart. people are tapping into their savings accounts to just make ends meet and also spend for the holiday season. the savings rate has slumped to 2.3% in october, so retailers like yourself are doing everything they can do to get in front of that buyer and make the sale, stuart. deborah tells us here she is planning for the long game but also the short-term buying less inventory making smarter purchases and promoting as much as possible right now. >> yeah. stuart: lidia, got it thank you very much indeed. lauren is sitting right next to me. she told us last week she was doing her holiday shopping. lauren: i did more of it, correct. i still have a lot left to do. stuart: you aren't finished? lauren: so the black friday discounts were great, and then it stopped a little bit and this past weekend i saw really nice discounts. stuart: okay. coming on fast. i like a discount. check those markets, please the dow is up over 100 points

after what, 25 minutes worth of business. the dow is up 114 and the 10- year treasury yield moving down this morning down to 3.54%. it's way below the two-year yield. look at gold 1,800 bucks her ounce exactly. check bitcoin $1,700 per-coin, or $17,000 a coin, almost exactly, but the price of oil going to $72 per gallon, barrel i'm sorry as right now. nat gas moving up, a cold spell in the north east the average price for a gallon of gas keeps on coming down at 3.26 now down $0.14 in a week. diesel is going down but still well-above where it was a year ago 4.91 for a gallon of diesel is your average. still ahead, matt schlapp, ronna mcdaniel, byron york, stephen moore. the 10:00 hour is next. ♪ he sings a love song, as we go

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