nell messy, captain breaking an instagram record after posting pictures on instagram it's the most-liked post by an athlete netting more than 65 million likes within hours so it was a winner, dagen. dagen: i'm just astounded by this about he's just an amazing athlete, and because i'm usually debbie downer and i'm not going to be debbie downer with my jingle bell sweater on. maria: james? >> you know, i watched i can't say i watched a ton of it but i like that they seem to be doing less flopping. that's what turned me off on soccer several world cups ago, so, now i'm getting back into it >> i've played my whole life so i watched almost every match. it was a major distraction for me. maria: all right, thank you, "varney" & company begins right now, david asman is in for

stuart this morning. david take it away. thanks for joining us. david: if i had one of the sweaters i could use one in the studio. thank you very much, i appreciate it good morning maria and good morning everyone. i'm david asman in for stuary varney. title 42 is going to stay for now the white house asked the supreme court to delay the lifting of title 42 until after christmas. this coming as the surge of migrants is showing no sign of letting up at all at the border and the "wall street journal's" kim strassel calls a 4,000 page $1.7 trillion spending bill "one of the ugliest least transparent bits of law making i've ever seen" that i couldn't agree more with what kim had to say and we'll be taking on the spending bill throughout the show and meanwhile twitter files part eight has dropped and reveals that twitter aided the pentagon 's propaganda campaigns all over the middle east. let's check in on the markets right now. we've got a small rally going on the dow, well, actually it's more than a small rally. it has increased quite a bit.

the dow is up in pre-market activity by 345 and the nasdaq is up as well by 58. that's a half a percentage point gain, and here is the good news for millions of travelers hitting the road this week. gas prices are at $3.10 a gallon that's down $0.56 in the last month but here is the bad news. a christmas week blizzard could turn into a bomb cyclone. we're going to tell you about a travel nightmare that could impact millions of people. it is wednesday, december 21. the shortest day of the year, 2022 "varney" & company about to begin. ♪ this is my fight song, take back my life song ♪ david: a little preview shot there, let's start with this

though, ukraine's president zelenskyy is set to meet with president biden and address congress in-person today. good morning, lauren. good to see you. lauren: good morning. david: is this more about aid? lauren: that might not be the official answer but read between the lines it's his first trip since the invasion by russia. it's a big, big moment as lawmakers here debate the $45 billion, look here, additional aid for ukraine. we've already spent 68 billion. this brings our commitment to over $100 billion thus far, and that is why some lawmakers are saying congress should separate ukraine aid from the omnibus spending bill. this is what zelenskyy tweets. you can read into it if you like on the way to the u.s. to strengthen resilience and defense capabilities, in particular, president biden and i will discuss cooperation between the two countries. he continues, so is he physically lobbying for money? it's all semantics. biden is expected to give him one thing he's asked for though.

the patriot missile system. they are precision bombs. that's a game changer on the ground. russia said don't do that. they warned -- david: it is 100% defensive. they can't claim it's an offensive weapon at all, although the money they are spending in ukraine that's 12% of all of the military money that we are spending in a year. lauren: what's the accounting of that? david: that's a good question. i don't think there's much accounting of that. well, next one, lauren. take a look at the op-ed in the "wall street journal." i love this headline. the ugliest omnibus bill ever, congress will pass a 4,155 page bill. most members will never read. lauren: wow. david: so what's next for this bill? lauren: the senate will debate. yesterday the senate voted 70-25 to proceed to debate and then it goes to the house. look, democrats want this bill on president biden's desk by the deadline, friday, to avert the government shutdown this christmas, and they want to push this through because guess what happens in the new congress

house republicans take over. david: but there is an alternative between passing the bill and going into a government shutdown. lauren: which is? david: we're going to talk about that with our next guest senate minority leader mitch mcconnell is convinced this bill is actually a republican victory get that. watch this. >> admittedly i'm pretty proud of the fact that with a democratic president, democratic house and democratic senate, we were able to achieve through this omnibus spending bill essentially all of our priorit ies. david: "wall street journal's" kim strassel begs to differ, saying, "this omnibus is one of the ugliest, least-transparent bits of law making i've ever seen" and she has seen a slot. sean duffy has seen a lot as well. so sean whose right here kim strassel or senator mcconnell? >> oh, david, way to start our

wednesday morning. merry christmas to you. listen, kim strassel is right. this is a joke. i mean, the fact that mitch mcconnell stands up and says listen, everybody. we accomplished all our priorit ies. maybe they are mitch mcconnell's priorities but they aren't the republican, the conservative movements priorities. this was a bill that was crafted , david. nothings changed since i have left congress, by a handful of leaders in the democrat and republican party. there's 535 members. everyone should have a say and a part in this process. they were excluded. it was democrat leaders and mitch mcconnell that put this together. massive new spending. listen they are ringing a little happy bell saying do you know what? we cut $12 million from the irs. the irs got 80 billion new dollars in funding from joe biden. this is going to do nothing to cut the budget. it's going to do nothing to stop inflation. this is the worst part of how washington works, exhibited

right here in this omnibus bill. david: now mcconnell says he's making what kim strassel says is a false claim, that it was either pass the omnibus bill or have a government shutdown but she says they can pass a short-term cr, continuing resolution, maybe they need a revolution, and kick this to next year when there is time for a thoughtful debate and a gop house, so it's not either shutdown or pass the bill. there is a third option, which they should be shooting for , no >> right, a continued resolution is to say let's just continue the government at current spending levels and kick it out another month or two months so that would have been smart to say let's go into the early part of february, mid- february. let kevin mccarthy and republicans in the house get their sea legs and then let's do a budget with republicans in the house democrats in the senate, that made complete sense so you're right that was another option, but the point too is i'll take a government shutdown. a government shutdown over a bad deal is worth it, but that was

not the only option and if there was a government shutdown, david , and republicans had a cr on the table to go listen we'll extend this , not shut the government down and democrat s so chose to do it, it be democrats fault. they would take the blame for it but you would actually sell out your republican allies in the house and say you know, we know you're going to take over the congress in what, 10 days, a week, a little over a week, and we're not going to wait for you to take control. we're going to kind of deal with nancy pelosi and chuck schumer, us and the senate, 10 of us in the senate and forget your majority that you just won is on offense to everyone who gave money to the republican party, everyone whose worked to serve in the congress. it's a slap in their face. david: and a government shut shutdown for a week or two isn't the worst thing in the world. markets don't do too bad if there's a short-term shutdown so there is a third alternative. sean duffy we have to leave it at that my friend. thank you very much have a great christmas, appreciate it. >> you too, merry christmas. david: well now to sam bankman-fried. he's signaled the legal papers,

signed the legal papers to begin his extradition to the united states. a lot of people didn't think it was going to happen but it did so what happens now? lauren: he's half way through the process of coming back here. there is a hearing at 11:00 this morning in the bahamas to set the stage for his physical departure from there and that could happen as soon as today. the fbi would take him on a private plane. he's hoping to be released on bail when he does appear in court in brooklyn, new york, if that's requested he could be under, you know, house arrest, et cetera. you know, i don't know. david: he couldn't wait to get out of that bahamian jail, which was filled with cockroach es and rats. lauren: the metropolitan detention center isn't that much better but they would give him vegan meals i'm told. david: good for him. lauren thank you very much. check the futures and they are up. we had a modest pre-opening activity in the markets but that has turned into quite a rally. eddie ghabour is here, so eddie first of all what is your

prediction for the first quarter of next year? >> so look, we think that the first quarter of next year, regardless of what happens here in the next 10 days that we're going to see a significant spike in volatility, and we're going to make new lows in the market and pretty short order and the reason behind that is because we think it's going to become clear to the markets what profits, how hard profits are going to get hit when you start to see earnings revisions and numbers come out in january. we haven't seen an environment like this since the 70s and the fed is not here to save us, and we are going to see margins compressed quite a bit so you have the cost of capital through the roof, consumers are going to spend a lot less because they have less discretionary income, and now, real estate is finally cracking and that's going to put us into a deeper recession in my opinion than what this markets priced in. david: well, so why are we having this little santa claus rally now? >> because it's oversold. i mean, it's down what 10 out of the last 13 days so even if we get a 3% rally i don't think the bulls are going to spike the

ball because they've gotten crushed this year. buying the dip has not worked all year. our strategy has been to raise cash in rallies and we are now in a position to be able to take advantage of one of the best buy ing opportunities in my opinion that we will see since 2009, so there are time periods as an investor when it's okay to just sit on cash and do nothing because it beats the alternative , so patience is going to be what wins next year, and we're going to be big buyers next year. david: by the way i know it's an expression but sitting on cash is not literally what you do with the cash. where do you put it short-term? do you put it into a three-month bill or what? >> so we have treasuries for our clients and look for the first time in a long time, your money-market funds are paying a decent rate, so raising rates and resetting things for the long term is not a bad thing. it's about damn time retirees got paid and rewarded for saving money. david: as someone close to that period, i appreciate what you're saying. eddie great to see you, you've

been spot-on in the past so we appreciate what you're saying now. thank you very much. coming up, the white house is asking the supreme court to end title 42 but experts are warning that mexican cartels could see a significant payout from the end of title 42 and on top of that vice president harris, remember, she's the border czar? well she's blaming republicans for the crisis. we'll get into that. then, there is this. the massive winter storm with wind chills as low as minus 40 to minus 60 degrees. another stark reminder of issues facing americans, rising heating bills tied directly into all this bad weather, so how are people weathering the higher heating costs with the temperature dipping so low? we've got that report, coming next. ♪ nicorette knows quitting smoking is freaking hard.

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♪ from atlantic to pacific, the traffic is terrific ♪ david: perry cuomo used to do those christmas specials. most of you don't remember that but i do. you're looking to add an intersection in fairfax, virginia not far from washington d.c. it's currently 26 degrees down there and it shows you how far south this cold weather is going meanwhile, heating bills are just going up as many are preparing to be hit by a massive winter storm. madison alworth is in new hampshire, concord, where it's normally very cold and going to get a lot colder, madison. how much more are the folks going to be paying to stay warm this winter? reporter: you know, david, the costs compared to last year

are astronomical. on a national scale, we're talking about 18% more if you use natural gas in your home, but here in new hampshire, it's even worse. i want to bring you some of those averages. so if you are living in the state here in new hampshire, gas is up 43% in cost, electricity is up 86% from last year, and that's the reason why new hampshire governor chris sun unu, just signed a bill creating a state emergency fuel assistance program which provides a stipend to individuals struggling to cover those increased fuel costs. he stated and told us that he knew if he didn't do anything, he couldn't rely on the federal government. >> i think the white house is completely politically in competent when it comes to understanding energy policy in america because everything they do is for a political reason, as opposed to what are the costs , where's the infrastructure, the cold is so dangerous in a place like new england everyone is susceptible and those on fixed incomes, the elderly so you have the

political incompetence literally putting people's lives at risk. reporter: and the community is also stepping up here in the state. would banks help to fill the gap when subsidies aren't just enough? people are able to get wood for free for their woodburning stoves to keep warm and it prevents people from making the dangerous choice from turning off the heat and other necessities. we heard one such story yesterday. >> she was telling me this is a life saver. that's her exact quote. this is a life saver because if she had not had this wood bank she would not have been able to heat her house with two daughter s on just an ssi income reporter: luckily the wood bank is doing well because it's the beginning of the season, but they are worried about the end of winter because they know it's going to be an expensive winter and they also think it's going to be a particularly cold one a dangerous combo. david? david: it looks sunny there but

i can see a lot of breath coming out. i just checked it's 23 degrees where you are right now probably feels a little colder than that for all of the stand-ups you've been doing. maybe you can get a hat to put on, madison. thank you very much for being here. appreciate it. well john lonski is here and john it's a big week for housing data. we'll get more existing home sales in about a half hour, 45 minutes from now. what are you expecting? >> well i'm looking forward to a decline of about 3% from the previous month. i think we'll be down 32% from a year ago, a pace of 4.3 million units analyzed. you know, when we really had those super-low interest rates back there in the second half of 2020, 2021 -- david: artificially low. >> and that is the problem. we had the 30-year mortgage yield averaging only 2.9%, that sales pace was above 6 million units so we're running down by about one-third of a 30- something percent below what we had back then and the warning

here is that with mortgage yield s significantly higher and unlikely to breakdown towards 3% anytime soon, unfortunately, we are going to be looking at lower home prices over the next 12-18 months. david: mortgage rates did just come down a tick. they are still well-over 6% but they are below 7%. do you think they are going to go above 7%? >> i hope not. i doubt it because i see the benchmark 10-year treasury yield moving lower from where it currently stands, and in fact right now, we have it at about 3.6% or 3.7% which is also under the federal funds rate, 4.4% under the two-year yield, 4.2 that's telling us a recession is coming, a mark slowing of economic activity should occur in 2023 with, you know, the benefit we should be looking at a lower rate of inflation. david: quickly, i want to tie you into our top story which is

this incredible new $1.7 trillion spending plan. not only are they spending like drunken sailors. we would expect it from democrat s who usually don't care much about the price but now republicans are joining the party. how is that going to effect the economy, quickly? >> well you'll have a bigger deaf nit, more government borrowing and a deficit this fiscal year $1.2 trillion, they expect the deficit will average more than a trillion dollars per-year, the next 10 years. that means higher interest rates than otherwise and it also means that we become more dependent on foreign capital, on foreign creditors. look at what happened to japan. we had the bank of japan tighten slightly and yet we had the 10- year treasury yield up one-tenth of a percentage point. that means higher mortgage yield s. david: if i could put it in a nutshel it ain't going to help. >> no. david: john lonski, great to see you my friend. well now this. people looking to retire, likely looking for a bit of a tax haven lauren which states should be

people be looking at? lauren: first alaska, .09 cents a gallon all the years we've been covering retirement stories have we ever put gas taxes in it as a motivating reason? number two is delaware the gas tax there is there 0-point t2 22 and then wyoming, florida still in the top five but considerably more expensive because it's popular and new hampshire is number five, no state income or state sales tax, no estate or inheritance tax and committed to phasing out the 5% tax on both dividends and interest. david: wow thank you governor s ununu. let's check the futures again it started out slow. its been gaining a little steam there, the dow in the futures is up 320, the nasdaq is up 50 that's about a half a percent rise on the nasdaq, almost a full percent rise on the dow. the opening bell is coming next.

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david: and check the futures they are very health it right now, before the market begins to

trade, we have a dow futures up about 300 points, nasdaq is up well-over 43, so david bahnsen is here. david, first of all, the market was kind of slow to get cooking this morning, pre-market activity. they kind of digested the nike financials and those from fedex and thought gee, maybe these earnings are going to look okay. what do you think? >> yeah, we're owners of federal express. we aren't owners of nike. we bought fedex on its big dip earlier in the year and i think you're exactly right. that soft landing thesis, that maybe we get a recession but it isn't a real bad one, that's sort of what both those companies kind of indicated. it's very early. we don't know it's going to happen with the economy next year but i thought the fedex report was really quite encouraging. david: yeah, and it's a great bell weather stock. they trade all around the world. they have 300,000 employees. fred smith still has a lot of control of that company, he's a brilliant manager so it looks like a good pick.

you, by the way, are a classic dividend guy. we talked about that before. my son is too. he's just getting into trading as he transitions out of the marine corps. you like clorox. i imagine that's because they have a nice dividend, right? >> well they have a great growing dividend and so i picked clorox today and another utility company, maybe we'll talk about because i wanted to go with some more defensive names. there's all these names that have been great dividend growers all year and energy that have done really well. we've had some big gains this year. clorox is more conservative, a consumer staple company, had higher input prices, with higher inflation. now we think that's kind of baked in and their margins have really improved. david: well let's talk about that energy company, american electric power. it was just downgraded, we should say i think it was a day or two ago by bank of america, but you still like it. why? >> yeah, when sell-side analysts start downgrading sometimes that makes us like it more but at this particular case , it's the only utility name

we own and we just think that they have the best assets, that their pricing power is very strong. obviously it's a boring space, but utilities have done well most of the year. lately, that's sort of fallen off a bit and we just like being able to reenter. they've grown the dividend every year. david: what's your 15 second summation of what 2023 will look like? >> i just want to point out what john said before the break about housing prices going lower , and he said unfortunately he's right. housing prices are going lower. i don't know why that's unfortunate, unless you need to sell your house real quick. housing prices were way too expensive and then getting more affordable is a good thing, not a bad thing. >> [opening bell ringing] >> 2023 is going to be a volatile year, david. david: thank you very much great to talk to you appreciate it. well the opening bell, as you can hear, is just ringing and again, really looks kind of slow to begin with, a couple hours ago in pre-market activity, but now we see the dow immediately

up 300 points. they were good earnings as david bahnsen and i were just talking about from fedex, from nike, indicating that perhaps the financials as they begin to rollin more and more, if they look healthy, perhaps we have a little more to go with this. let's call it a santa claus rally with just a couple days before christmas, i think it's fair to do that. we see all green on the screen right now. there maybe one red that sneaks in there, but right now, very healthy opening on the dow jones industrial average and the s&p is doing quite well as well as you can see it's up 26 points that's a .7% increase and nasdaq up about a half a percentage point up 53 points. we're also going to look at big tech. we do see a couple of red signs in there. microsoft and meta are down a bit but apple, amazon, alphabet, they're trading in the green. now, we've got to get to the elon musk headline of the day. musk said he's going to be stepping down as twitter ceo. he's going to honor that commitment he made on twitter a couple of days ago. lauren: okay but when.

when is that going to happen? david: you can hear susan already chiming in. what's the answer? >> well the answer is when he finds somebody that's willing to take the job. i'll get to that in just a bit. i really want to show you tesla though because tesla at these levels is now worthless than exxon, on track for the worst month, worst quarter, worst year in its history so it's down about 65%. you had electric reporting this morning that tesla is now freezing hiring, planning another round of layoffs, and that's after the 10% cut earlier this year on musk's super-bad feeling on the economy so tesla is sitting more than two-year lows. you're sub-140 and investors have been imploring him, begging him to focus on his electric car company which is no longer worth half a trillion dollars for the first time since 2020. he's been spending 100% too much of his time at twitter when he has demand problems at tesla since they are offering incentives in china here in the u.s. , cut throat competition, supply chain problems, and higher costs and that's why, he says, he's stepping down as ceo of twitter

as soon as he finds someone foolish enough to take the job. after that, is he really stepping away because he will just run the software and server s teams, which some say is the backbone of twitter, especially with only 2,000 staff left, so tesla's bad year also he blames a macroeconomic factor s like the highest rates in 15 years which is depressing the stock market. i'll tell you this though cathie wood still bought more last night, she's doubling down that takes her quarterly purchases for the ark invest funds to $88 million and that's the first quarter where he ark invest of the not buyers of the stock over the past few years. david: by the way i should mention tesla is not the only car company with troubles, you have ford and gm down about 50% as well. >> tesla is down 65% but also, they need to protect their lead, especially as i mentioned to you when you have local domestic players like the xpeng, that can make cars for cheaper and the gm and ford that have a long legacy and probably more

developed production line, i think he has to focus on competition. david: okay, fedex we were talking about that with david. really pretty good earnings and again, they are kind of a bell weather. i think that's why all stocks are up today fedex is a good sign. >> i'm not sure that it's necessarily the bellweather it used to be because if you look at growth you had sales and profit dropping from last year and they are noting weakness especially in that express division, so it's a cost cutting situation right now so they are cutting $1 billion in costs, more than what they previously forecast in september. they are suspending planes, they are cutting sunday delivery, and remember, that this is supposed to be the boom time for package deliveries during the holiday shopping season. also, it's a sign of global growth, and if you're looking at slowing sales and profit that's a problem for global growth. david: 5.5% up today. >> its been down though significantly for the year also remember that amazon says they are going to cutoff fedex for shipping, installing their own fleets instead that's why you're seeing a really

dramatically finally show up on the bottom line. david: fred smith says he's not worried about amazon but nike also reporting and that also did pretty well and it's up almost 13% right now. >> again, yes, better-than-expected, not great if you look at the inventory levels, which were up 45% from last year, and we know that retailers, that's their main hitch and it's also a positive sign that the consumer, december fight higher rates and slowing growth continues to spend on their swoosh products, maybe quarter on quarter it was slower , slightly less, but when you have $9 billion in stock, because of supply chain issues, that's a problem. direct sales were up digital online sales were up by 25% i think that's a bright spot higher costs though which means less profit margin. david: you jumped right over that achilles heel comment. i thought that was pretty good. >> it was a good pun, right? david: all right youtube back in the news what's the story?

>> this is a big deal because i think legacy television operator s, media companies really should be looking over their shoulders at the apex predators in these large technology giants. apple was a front runner in the fall to buy the nfl sunday ticket. even some thought they moved their iphone launch earlier in september just to get ahead of the nfl opener to make that announcement and apparently no longer interested, especially with the hageling over costs and licenses for the nfl sunday ticket, so, apple's done. you step in google and youtube price tag is around two to $3 billion each year and that's double what directv had paid over their 10 years of holding the nfl sunday ticket. now the deal doesn't though include a stake in nfl media, but leaves other media property that was supposedly on the table according to reports and some would say look, the only deep pocketed individuals & companies right now that can afford the nfl sunday ticket and legacy media needs to be careful because once you get sports and streaming, that is done for linear television which is

only keeping their audience through live news and live sports, so the only people that have the money are the googles and apples and the amazons and microsofts of the world. also want to note that amc this morning explored buying their bankrupt competitor cinemark, mentioned in their 8-k filing that they held talks but it's tough for moviegoers and theatre owner s when people are shifting that consumer trend is shifting towards streaming at home instead. david: honestly i can't remember the last time i paid for a movie ticket. >> and popcorn and sitting in those seats can sticky gum on the floor. david: you're making it sound delightful, susan thank you very much. checking the big board now it's a good day so far the dow holding on to a 300-point lead. let's take a look at the dow winners if we can on the board that we have here. we got nike, caterpillar, boeing , look at nike by the way up 15% right now. boeing with a healthy lead as well. here are the s&p winners, nike, fedex, of course we mentioned that up about 5.5% that big nike

lead though is really winning the day and the nasdaq winners if we can switch over to the tech stocks, we got lululemon up 2%, marvel technology down there at about one and one-third percent gain and comcast doing pretty well. coming up a girl scout and mother got kicked out of a rockets show in new york city. the reason? her job. we'll bring you scary details on that one and there may yet be another reason to move to the sunshine state of florida. the governor, ron desantis, is taking steps to help the average person afford a home. and rivian is rolling out deliveries of their r 1s, it's an incredible looking car. the suv version of the rainfall electric pickup. we're getting an inside look from our car guy right after this. ♪ baby you can drive my car, yes i'm going to be a star ♪

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david: checking the markets and they are holding their own the dow is still up around 300, 294 to the plus side, nasdaq loss a little bit of steam it's up about .4%, 41 to the plus, so it's not a bad day for the markets at least so far so good. well, a do not drive warning is being issued to people who have certain fiat chrysler automobiles lauren what's the issue? lauren: takata airbags, so another person unfortunately died when one of those airbags exploded. it's the third death this year involving a takata airbag and chrysler. here are the cars effected mostly older 2005 and 2010 dodge charger and chrysler 300 sedan. look you have to get this airbag fixed and the company says we have the parts. the service is free and we'll even provide you transportation. do this. it is that dangerous.

so if you own one of these vehicles don't ignore. david: it can be a killer these airbags. awful. lauren: seen it over and over again. david: lauren thank you very much. now this. rivian has began delivering the r 1s, which is the suv version of its electric pickup. gary gastelu is getting hands-on look at the new car. gary first of all it looks a little different than most suv's doesn't it? >> yeah, it has a very original style upfront with those oval headlights same as on the pick-up although i think it looks more normal in this suv package which is smaller than the pick-up but has three wrotes of seats, seven passengers, four electric motors , 835-horsepower, david, this thing is as quick as many sports cars, but it also does some cool stuff when it's parked one of the great things about electric vehicles is that you can leave them running essentially when you're parked you don't have to worry about an engine making noise or carbon monoxide emissions so you can sleep inside to take

advantage of that. this has something called camp mode which leaves the power on and also uses the vehicles adjustable hydraulic suspension system to level it out if you're parked on crooked terrain like i am right now. now it's actually using the suspension to lift the different corners of the vehicle to make it get more flat on this surface. now i'll hop in the back, take a nap without worrying about rolling to the side of the vehicle while i'm sleeping. after that just open up the fru nk, get your gear out of there and open the lift gate and you have basically a mini rv. rivian of course been having some slow ramp-up for production but they are planning on having 25,000 vehicles delivered by the end of this year, pick-ups and the suv. right now if you order one you'll have to wait another year to get it. that's how backed up they are on reservations. david: and how much if you can get it? >> starting price technically 78 but the models of this

they're building right now start at 92. that's like this one. 321 miles of range basically loaded with every feature. this also has sort of a gm super -cruise-type highway driving system that'll keep it in the lane and keep it at a set speed on certain roads and of course it has cameras all around the car as well that keep an eye on the traffic, and will keep an eye on the driver to make sure you're paying attention to the road while using that almost hands-free system although it's really better just to pay attention. david: by the way you talked a lot about speed. how long does it take to go from 0-60 in this car? >> three seconds, according to rivian. seems a bit quick for my own testing, which is really kind of ridiculous in a big 7,000 pound vehicle, but more important, this is actually an excellent off-roader, incredible capability there and that suspension system can also lift it up. so you have 15 inches of ground

clearance under the vehicle. that's a tremendous amount, a lot of jeeps and such are closer to 10 or 11, so this really is sort of a very capable off-road machine despite the luxury and the technology involved. david: and that 300-mile per- charge level, that is an important level. that means a lot to folks they can drive more than 300 miles with a full charge so it's incredible but what is it? 78,000 again you're saying? >> 78 to start, 92 for this one i think the larger battery pack is the extra 6,000 and then there's some other features on this particular model right now, so you're talking 90,000 to get that 3 t1 21-mile version. david: gary thank you very much good stuff i appreciate it. now this the treasury department is delaying its electric vehicle tax credit guidance what's the issue lauren? lauren: they are doing it from the end of this month going to march of 2023.

they need more time to properly identify the exact sourcing of the materials that go into electric vehicles. so that when they can do that they could become eligible for the tax credit of up to $7,500 as provided by the inflation reduction act, so i think the upshot here is if you are currently in the market for an electric vehicle and you're not sure if it qualifies, you get a tax credit now until march, so a lot of teslas are expected not to qualify but since we don't have these rules you buy time should you want a credit. david: it's only a part of all that called the omnibill. lauren: it's very confusing to know what percentage of the material comes from here, sourced here, made by this type of labor. david: how much do politician understand about all this stuff by the way. next one, lauren. hyundai just unveiling its new 2024 kona model this car comes in hybrid and electric, right? lauren: it looks futuristic doesn't it? it says electric right on the

license plate but what if i told you there's three different versions of it, electric, hybrid , and gas-powered. can you imagine? david: oh, you wispered gas- powered. lauren: hyundai is redesigning the 2024 kona where they are, where their wallets are and the starting price is $23,000, compared to rivian. i think that looks almost as cool. david: all right lauren thank you very much. coming up the royal drama is heating up even more. harry and meghan are now demanding an apology but the family is refusing so will they get invited to the coro nation, i'll be asking martha maccallum what she makes of all of that coming up and sbf spokesman told fox business the former crypto ceo has signed paperwork to appear back in the bahamian court today so will sbf be headed back to u.s. soil this week or is there another delay in the works? we'll tell you, coming up.

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this morning after agreeing to be extradited to the united states but it seems to be taking a long time. connell mcshane is here, so connell when is the earliest we will see this guy back on u.s. shores? connell: today, i think, at some point. if all goes according to plan, which is a really big if, as we've seen here the last few days, sam bankman-fried could be in the united states by this afternoon, probably late afternoon, and he would then face the federal charges that have been levied against him, possibly even be out on bail. the way it's setup right now is 11:00 this morning, so a little over an hour from now he's expected to officially wave his right to challenge extradition at a hearing in the bahamas. then he be handed over to the fbi, agents fly with him to new york to face charges here, and fox's learned he's expected to be granted bail. deal worked own between his lawyers and prosecutors but ultimately that decision is up to the judge here in new york. if you look at the charge against him, it's eight counts and it starts with a conspiracy to commit a wire fraud on his customers, and then you just go down the list on commodities,

fraud and securities fraud, campaign finance violation, even all basically the same idea though that he allegedly took customer money and used that money for other purposes and there's a lot of back and forth if you have been following this case over the last week or so and last week bankman-fried was denied bail in the bahamas and they sent him to this notorious prison known as " fox hill." david: that's very distinguished. connell: they call it fox he'll and after he initially said he would fight the extradition, he reversed course maybe because of that and his lawyer in the bahamas did not communicate that to the court effectively, earlier in the week, so that delayed the process even more until where we are today. his team here in new york was telling us last night they expect him to be here probably at some point today. i just want to touch on the bail also before we wrap up. fox learned from two different sources that his lawyers worked out this deal with the prosecutors, partially based on his agreement to be quickly extradited and we've seen this before in the southern district of new york. bernie madoff for example, had a $10 million bond granted.

it was allowed to stay in his apartment in new york until he pleaded guilty in 2009 but we can't stress this enough. the final call is made by the district court judge ronnie abrams in this case and just for context she was appointed 10 years ago by president obama, happens to be the daughter of floyd abrams, sister of the tv news anchor dan abrams, but when they come to new york if it's today, tomorrow, whenever it is, they will present this deal, if that's what they've agreed to and she will make the call whether she gets bail and see what the conditions are. david: i can't imagine him not being a flight risk though. connell: that's what they said in the bahamas. we don't know the exact condition, it could be some sort of home detention or attached to this but again, the precedent is there with some of these other high profile financial crimes in the past in the southern district. david: we've got a hard break thank you very much, connell and still ahead, ben domenech, florida congressman byron donald s, martha maccallum and florida senator rick scott. boy what a show, the 10 a.m.

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