>> nothing in the subsidy budget pastramid by the house and both congress yesterday while on vacation addressed as the border problem. >> this is ridiculous to scramble an air force jet to send a piece of paper down to sign it because he was too lazily when in washington. >> the biggest risk of them all and not likely to occur and something we have to pay attention to is a credit crisis. if unemployment spikes to the highest single digit, consumers will default on their debt and there's some pain and no getting around that. >> where is buttigieg? this is a trend during the port crisis, i think he was on paternity leave, during the railroad strike she was on vacationing. who's running the ship at the transportation department? ♪ ashley: what's that song?

the final countdown looking at fox square, the beautiful christmas tree there towards the end of the year, the final trading day of 2022. it is 11:00 a.m. on the east coast on this friday, december 30th, new year's eve eve. i'm ashley webster in today for stuart varney. take a look al these markets, red across the screen and dow off 235 points and s&p down about eighth tenths, same story on the nasdaq. let's take a look talking of the nasdaq at the big tech names, they have been down since microsoft, amazon, alphabet and more down around 1%. parking lot of that is the ten year -- part is the ten year treasury yield has spiked a little today and up six basis points at 3.88%. guess who's here? good friend todd pyro who's been

aal worth throughout the -- stall worth throughout the show and president biden's office and a few highs and lows and does any moment stand out to you this year? >> there's one i can't get over still and it's sad on so many levels. take a look. >> i want to thank all of you here for including bipartisan elected officials like representative government, senator brawn, senator booker, representative -- jackie, are you here? where's jackie? i didn't think she was going to be here. >> yes, ashley, sadly jackie is not going to be here because she's no longer with us and i'm not just talking at the event, she's dead. ashley: just cringe. >> look, it's one thing when you're old aunt does that in her 90s and she's rounding third base and had a greatly but it's another thing when it's the

leader of the free world because other leaders of other countries that aren't necessarily our friends look at that and say now is the time to take advantage of america, and that's exactly what they're doing. ashley: yeah, it is so cringe worthy just watching it again. it's hard to watch. next one for you, todd, vice president kamala harris had a lot of assignments, border czar, small council share and ambassador and looks like she spent a lot of time making word sackmary lads, listen to -- salads. listen to this. >> hello. hello. thank you. jamie kamala harris and my pronouns are she and her and i'm a woman at the table with a blue suit. suit. i've asked my team to do a vin diagram. the three circles; right? >> we invested an additional $12 billion into community banks because we know community bankses are in the community. talking about significance of the passage of time.

the significance of the passage of time. ashley: we know community banks are apparently in the community. look, todd, do you think the vice president will step it up in the new year? we haven't seen much of her recently. >> no, because if she hasn't in the first two years. what makes you magically improve and they'll float her out there more in the next two years and i use the nfl model. if you haven't figured out any position in the last two years, look at the jets with zack wilson, he's as good as gone. a position like the presidency and people looking at her for potentially the presidency ander first two years as vice president and can't do that hide her and think joe biden is really not going to dot job

himself, they then made a laundering job of her and they have to launder pete buttigieg and a whole lot of other people they may have to float out there. it's a mess on their bench, ash. ashley: it's weird because i kind of thought she had some chops, she was the ag if california, which is not an easy job, but it's actually shocking to me that when she gets into office, she has real problems giving speeches and doesn't do her homework and lost a lot of her staff that just quit. she turned into a bit of a nightmare for the administration. >> i can answer that first point you said about her time in california. i was in media out there and i told you this before, the media could not have been any less critical of her. they were hands off. they barely covered her and the only time they did is when she put out a press relief and they glowingly reiterated it saying press relief. while ag and senator, there was no scrutiny and now gets a tiny

modicum of scrutiny and blames everybody else and can't handle it with word salad after word salad and shows she probably wasn't doing much when she was ag and wasn't doing much as senator and now here we are, the second highest office in the land. ashley: we're finishing on that type of sentiment. a lot of selling today. dan ives joins me now. great to see you, dan. talk tesla and so many to talk about. the stock is down 65% this year. what do you think elon musk has to do to turn the train wreck around? >> a lot is twitter driven and about 70% selloff related to tesla and really three things and asked the name of foremost

ceo of twitter and important in terms of hands off and owns twitter. and the second thing he's been using tesla as his own atm machine to fund twitter. that needs to stop. this is one of the most transformational companies in the last 30, 40 years and musk ultimately has gone from super hero to villain on wall street. ashley: it's remarkable. has his image been damaged badly through all of this, do you think? >> i believe the brand has been a bit of a black eye because ultimately when you're selling to the masses in terms of evs and teslas, in terms of what's

happened on twitter, we've always viewed it as, you know, probably the most overpaid tack acquisition in the history of deal making and that spider web is casting an albatross on the stock and frustrating and a lot of that is musk/twitter driven. >> what are your market predictions for 2023 and i've been hearing a lot of doom and gloom. >> 22 years doing it and the clouds up 20% over the next year and the fed takes a foot off the pedal in terms of rates probably springtime and tech rips hire and fundamentals soften and names like microsoft and cybersecurity and we'd be owning it here and that's our view going into this year.

ashley: tech did all the heavy lifting for so long and people argue the valuations went out of control. those are being drained away now and fundamentally, a lot of big tech companies are pretty good and these kind of prices, are they looking for attractive? >> it's under as tack has gone in 2008 and 2009. you look at these core utilities in terms of likes of facebook and terms of the likes of amazon, apple, microsoft and others. that's why. in the decade i've covered tech, in these dislocations, it's the opportunities and put the seatbelt time on and there's clearly dark macro but then on the other side is big tech will continue to lead and that's, you know, our view in terms of what i've been sort of sort of bullish on tech for the last 15 years. years. ashley: yeah, that can't

continue till the fed pivots and we're in the seventh, eight, ninth they'll go into the second half of the year. everyone is bearish on the market and what's been a horror show this year. lauren: senior management said they break for 20,000 vehicles and that's 5,000 more than november so positive statement from an executive there. bring up bed, bath and beyond. they are down. they just disclosed that they

did receive a letter from the sec requesting more information about their annual report of operations for fiscal 2021. sec officials requesting more detail on the disruptions of the supply chain and how that's impacted bed bath's operations and whether the company will undertaken any risk mitigation strategies. it is a $2 stock and down 80+ percent this year. mesa air, it's $1.66 but up 23%. the numbers were pretty bad for this airline. the fourth quarter lost wide end and revenue fell and stock is up and i'll look into that for you, ashley. ashley: there you go. at least it's up 22%. it is a $1 stock though. lauren, thank you very much. now this, we told you about radio city using facial recognition technology to kick a mom out of the rockettes christmas show. it turns out that that's not the only place in new york that's using this controversial facial

scanner. we're on that story. and an article in time is getting ripped apart by critics online for suggesting that exercise is rooted in racism. you really can't make this stuff up. we'll get into that. plus nearly 2,000nypd officers retired this year. that's about 500 more than last year, rising crime and a lack of support are burning our cops out. we'll have that story next. ♪

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ashley: a sheriff's deputy shot and killed in the line of duty in southern california and deputy isaiah corres corderro ws gunned down and shot and was remembered as a ray of sunshine and the suspect is in police custody and has extensive criminal history dating back more than 22 years. meantime in new york, two police officers are recovering after being stabbed on the job. the officers were attacked while responding to a 9-1-1 call on long island. the suspect was shot and killed. he was outon parole for assaulting an officer back in 2011. in new york city, police officers are retiring in absolute record numbers. fox news correspondent laura ingle joins me now to talk about it. laura, why are nypd officers retiring at such a high rate this year? reporter: yeah, a couple of different reasons and the most

recent stats released by nypd show that officers are retiring at a rapid rate and they're saying it's a combination of an up tick in crime along with low pay that has sent record numbers heading for the door and in many cases to different jurisdictions and states for better options. according to nypd, nearly 1,972 uniformed officers retired this year, that's up 500 from the same time last year and it's the largest number of officers leaving the department since 20012. while nypd officials said they are recruiting and hiring to replace those who are retiring, nypd officers are actively being recruited by departments across the nation with the promise of higher pay, moving incentives and bonuses. criminal justice experts say it is a trend that's showing no end in sight. >> dwindling numbers, you're working more overtime, you're doing more hours, you take all the factors together and they'll leave for better paying job.

reporter: police un unions also sought a burnout factor and head of detectives union says the state's bail reform laws are also a contributing factor here. >> the district attorneys in the city of new york are supposed to work with the police to combat crime, not against the police. they're not working for the criminal element. reporter: in a statement, the nypd hired approximately 2,000 individuals since january, including 600 who have been training at the police academy and new york city's mayor and police commissioner speaking today at a graduation service se connectedmy and see -- ceremony and see if there's anything to say about this. back to you. ashley: laura ingle, thank you for that report. bring in new york congresswoman nicole malliotakis. congresswoman, crime is up and officers apparently leaving in record numbers in new york city. what needs to change?

>> we need to have politicians in new york who respect our law enforcement, that appreciate the work they're doing and give them the tools that they need to do their job. all they've done is hand tie them over the last several years. whether it's the bail law, whether it's the civil complaint review board that finds officers guilty before they even have a case heard. whether it be the low pay which $42,000 to put your life on the line in new york city is certainly not enough and not comparable to other police departments across the country. we are seeing record number of retirements and largest number after september 11. largest number in two decades and instead of defunding the police now because remember, that's what new york city politicians did ask cut $1 billion from nypd and went from defunding the police to driving them out and it's because of the policies being put in place by the democrats that run our city and state.

ashley: all right, i want to get into this topic with you, indiana became the latest state to ban tiktok on government-issued devices and north carolina and another state considering this. how big of a threat do you think tiktok really is? >> well, look, the reality is we know; right, through our intelligence agencies that the communist chinese party controls these companies and there in turn have a lot of influence over the contents. they can have an impact on what our children and youth are seeing, could be indoctrination and influencing our elections for older individuals, they create fake news sources that then push propaganda of the communist party. that's how they control their own population in these communist countries by restricting what they're seeing and controlling and sending those messaging out. so it is very dangerous, it does affect our way of life and can

certainly have an impact on national security, and it's something that i think should be banned nationwide. there's a reason why our military has already done it, there's also a reason why congress has moved forward with a federal ban across all the agencies, and i think it is time for it it just be restricted here in the united states. ashley: very quickly, i got about 30 seconds, congresswoman. so would you -- there are suggestions that the tiktok entity should the u.s. segment of it, u.s. operation should be separated. is that enough? would you just go ahead and ban the whole thing all together? >> well, i think there's discussion happening. i mean i think something needs to be done. you cannot have a communist party-controlled entity overseeing it. if they were to sell off portions to the united states american company, that would change the conversation.

we have to worry about the fentanyl coming across the border and we nebbing to take seriously for the house republican are focused on that. ashley: congresswoman thank you so much for joining us. appreciate it. >> thank you. ashley: now this, the same facial recognition technology that got a mom kicked out of the radio city christmas show is being used at other locations, interesting, around new york city. lauren, where else are people getting their faces scanned unknowingly? lauren: yeah, last i checked, this isn't beijing, this is new york city and it's properties like madison square garden where security is bothering fans who have been critical of dolin like merrill lynch financial adviser brett klein that wrote on

facebook that he should sell the team. it's common to take clients out, dan ives did that and he's a federal face at kn knicks and rangers games and dolin has done full bans and doing this report might get me banned next time i want to go across the street to see a christmas sp spectacular a knicks game. ashley: talking to dan. dan, come in. do you think the face scans are ethical. >> if you look in china, that's an issue in terms of ai technology and facial recognition and it's being used more and more and ultimately i continue to go to islander games and as an islander fan and it's not a good look technology increase with a black eye. lauren: there's this report that the technology being used to

keep track of for instance spike lee, not only when he gets in but where he goes when he's at the arena and tracking where you are. ashley: it's a slippery -- yeah, no. it's a slippery slope and as they say, this is not beijing. we got to go but fascinating stuff. now this, a medical office tried to text a holiday message to its patients but instead they mistakenly told thousands of people that they were dying of cancer. oh my god. we'll explain that. governments around the world weighing how to react to china as covid cases spiral out of control there and dr. siegle thinks we should close the border with china and he'll make his case right after this. ♪

ashley: we're playing taylor swift's 22 in the background as we prepare to say good-bye to 2022. it's a warm day in new york city by any standard, 58 degrees, not bad for december 30th. it'll be a mild day. let's check these markets ending the year with a bit of a thud. the dow off 282 points, down nearly 1%, same story on the nasdaq and the s&p. now this, governments across the world are debating how to react after china lifted its zero covid policy. hillary vaughn on capitol hill this morning. hillary, china's lack of transparency is a big concern as always. reporter: yeah, especially as they drop their sow row covid policies and come companies aren't sure they can trust if there's another bad outbreak in china they'll tell the rest of the world about it and some companies are ramping up testing for covid and four people

traveling from china and italy started testing out travelers from covid to china and tried to get the european union on board and eu rejected plans to do that. here in the u.s., testing for travelers for china will start january 5th and president biden approving of the country-specific testing requirement and in the past he called trump's travel restrictions targeting china xenophobic. >> this is no time to talk about tram's record of -- trump's report of hysteria and xenophobia and leading the way instead of science. >> some are skeptical that testing two days before traveling are enough to keep potential outbreaks at bay and testing two days before traveling means someone could test negative one day and positive two days later when boarding the flight to the u.s.. republicans say this is a charade because there's no

mandatory testing at the southern border happening for everybody. >> not everyone of the 163 countries that anyone is derived from and no restrictions to no policies there and people coming across with covid with whooping cough with mumps, measles, eradicated diseases and we're doing nothing about it. reporter: ashley, republicans also think that president biden has not done enough to get to the bottom of the origins of covid-19, something they say will change when they take control of the house next week. ashley.ashley. ashley: very good, hillary vaughn at the white house. dr. marc siegle joining us now. good morning, doc. how do you want u.s. officials to deal with the surge of covid in china? what should we be doing? >> ashley, i would say the cdc making a move on this should be applauded and i don't think i

have a problem with the testing strategy, but i do think like hillary just said, the severe limitations to it. first of all, you could test negative one day and positive the next. she just pointed it out and get off the plane and you're positive. secondly intermediary countries are a problem like they were with the trump ban and people flew to china and italy and united states and cdc says they're not going to let that happen. how are they going to enforce that? homeland security cannot get this information from the airlines. they've tried before. if it was going to help medically you'd do it now. the only thing you can do is stop all by essential travel from china into the united states ashley, i'm in favor of that and asking for that but you're going to tell me what the economic implications of that would be because that's a huge problem. eric mean -- china is part of

the big engine driving the world economically but i'm concerned about the variants that could emerge there. by some reports there's more than 9,000 deaths a day in china. ashley: doc, is that a real concern for you? i was just reading that there's a new subvariant xbb, which is widespread in new england. how much of a concern? >> i'm concerned about the new variants because we've seen -- we saw with delta coming out of india and we saw with otay mesa chronocoming out of -- omicron out of africa we can be unprepared and we don't know if our vaccines work against it or natural immunity works against it from prior infection. i'm concerned about a new variant emerging from china that could put us all at big risk and especially since we are already having problem withs vaccines in terms of how well they're covering existing strains. i'm concerned.

ashley: stay there, doc, i want to bring in dan ives. if we bring back restrictions, how much would that impact the market? >> look, ultimately the biggest black cloud overt over tac has n the china story and that's a big wild card and get to the fed and wild card in terms that have china story -- of that china story and that's been a big a albas to on the big tech space as that all plays out. ashley: dan, take a look at new time article causing a lot of controversy for claiming exercise is rooted in white supremacy. there it is. there's the headline. doc, what do you make of that? is exercising racist?

>> i mean, that's unbelievably ridiculous because the problem is that people are too sedentary and one race doesn't have a calling card over another. one of the greatest boxers that ever lived by the way, 1903 and first boxing championship, jack johnson and we could go muhammad ali and those are people that inspired people and one race doesn't have a privy to exercise. all races exercise and all must. that's just more, you know, of this cancel culture, wokism that doesn't have any place in medicine or public health. get out there and exercise, period. ashley: very good message. i just -- you know, what is "time" thinking? >> ridiculous. ashley: doc, always great information. thank you very much. now this dreadful story, 8,000

people who were supposed to receive a holiday greeting from their doctor's office instead got a fake cancer diagnosis. according to the bbc, a medical center in england sent an automated text message to thousands of patients telling them they had aggressive lung cancer. within an how shall, the same -- within an hour those same patpatients received a second tt message telling them it was a mistake and wishing them happy holidays. what a terrible story. how could that happen? now this, a father of seven misses his chance at a life saving heart transplant when a bad storm cancels his flight, but he hasn't given up hope of getting a new heart. we'll have his inspiring message. meantime, southwest airlines vowing to get back to a normal schedule today after nearly a week of massive cancellations and delays. how's it going so far? lydia hu will have that report

next. ♪

ashley: for many caught up in the air travel chaos, flight cancellations meant missing christmas or being with family but for one man from alaska, it meant a whole lot more. come in here, lauren. you have the story. what happened. lauren: patrick holland flying from fair banks, alaska, to seattle, washington. he was getting a heart transplant. alaska airlines canceled his flights and he told the gate agents his story and they put him on another flight and that was diverted back to alaska because of bad weather. he never made it to seattle, he did not get his heart

transplant. the hospital is holding his place in seattle on the transplant list but he missed that transplant. he has seven kids. they were probably thinking the best christmas gift we could ever get is dad getting his new heart and he couldn't get it. a go fund me page was set up so he can at least stay locally in seattle for when a new heart becomes ready but, i mean, when you hear this story -- ashley: what a story. lauren: not to minimize anybody else's travel nightmare but this puts it in perspective. ashley: it certainly does and we wish him the very best. lauren, of course, thank you. after canceling thousands of flight this is week, southwest airlines say they're resuming normal operations today. lydia hu has been following it since the very beginning of the debacle. lydia, how long will it take to get all the stranded people home, do we know? >> ashley, southwest started selling tickets again today and hopefully people stuck will be able to rebook on southwest if

they choose and get back home today. some people have been stuck nearly all week in this debacle. the airline said it returned to full operations today. right now showing only 41 cancellations, which is a dramatic improvement from the more than 2300 yesterday, more than 2500 on wednesday. we're up over 15,000 and ceo bob jordan promising to take care of passengers that have been impacted. watch this. >> step one is to get the operation back on track. the best way to serve our customers is to get the network going again. they'll be a lot of lessons learn that had come out of this -- learned that come out of this. >> as planes take to the skies, frustrated travelers are trying to reunit with missing bags and recover their costs and department of transportation issue add formal warning to the airline yesterday promising steep fines, penalties for promising to reimburse travelers for meals, hotels and ground

transportation and secretary pete buttigieg writing "no amount of finance compensation can make up with passengers that missed moments with their families that they can never get back and continuing that's why it's so critical for southwest to begin by reimbursing passengers for the costs that can be measured in dollars and cents but lawmakers are criticizing pete buttigieg and his response. that's including progressive representative ro khana criticizing buttigieg for not doing more. tweeting nearly six months ago, bernie sanders and i called for pete buttigieg to implement fines and penalties on airlines for canceling flights. why were these recommendations not followed and this mess with southwest could have been avoided. executives have promised to improve the airline's operations but, ash, that will likely take year ss -- years so in the short

term, they're looking at executives taking a major hit and some estimates in the loss of 10%. ashley: wow. yeah, boy, it's a lot to recover from for sure. lydia, you've been following it all the way through. thank you so much for that. we have breaking news for you. a source telling fox news a suspect has been taken into custody in connection to those four university of idaho students who were stabbed and killed last month. almost six weeks ago. police we are told are going to be holding a news conference at 4:00 p.m. eastern time. watch that here on fox business. a major, major development in that case. now let's take a look at dow 30 stocks if we can and get a sense of the mood and this will tell us all we need to know. 27 of the 30 stocks on the dow are heading lower. just jp morgan and verizon on the upside, the dow itself down three quarters of a percent or

242 points. don't go anywhere, we'll take a look back at the best moments from "varney & co." in 2022. can't miss it right after this. ♪

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ashley: tomorrow night there'll be a performance by multi-platinum country star bradley gilburn. that's from nashville. we're looking back on some of the best moments of "varney & co." this year. take a look. >> they're just getting warmed

up. i'm nervous about this interview and this guy is really famous, his name is jake paul. >> not bad. >> by the way, barbie just release add new queen elizabeth doll. onset it's awful. i didn't say that. it's on sale for $75. move on quickly, get out of this. the palace as in buckingham just announced when king charles will be crowned. >> did you just say buckingham? >> i have a little bubble thing here, it's the queen of england. >> i would be very careful, stuart. >> don't touch, for engagement it must be a diamond. why not a ruby or emerald? poor lauren sitting next to me almost threw up. >> you've never heard of carharts? >lauren: i have heard of them. >> never see ago pair of car carharts walking down fifth

avenue. >> i'm 74. there's cake. all in all, this is a great birthday. >> they've gone all out, thank you, yes. it's my birthday today. happy birthday. isn't that fun. stuart: great performance grandchildren. here we go, first ever varney and you starts right now, folks. >> i knew that. >> when you get to a certain age, you can't remember what you're thinking about 30 seconds ago. >> i've always said, stuart, that -- called you by your last

name. >> thanks very much, sir. >> thank you, sir. >> thank you, varney. >> heard you singing that beatles song earlier today. >> ♪ baby shark ♪ >> it's totally catchy. totally annoying. >> always look on the bright side of life. remember that movie? life of brian. brian. lauren: just the two of us today. >> ♪ the best part of waking up. you heard that? i'm sorry i exposed you to that, sir. really. >> i think you need to have your own dating show where you are moderator sort of like the dating game. >> opening at tinder with the ceo.

>> i love that and never get compliments from my wife. you're my wife from the compliment department. >> catsimatidis. watch out, folks. who is the biggest deep onset? i take full responsibility here. lauren: thank you. >> i'm the worst of the worst. i am. anybody else want to contribute to this? lauren: you do it perfectly. ashley: time for the final trivia question of the year. why is stu saying so much onset and busy ball drop in time square and 1803 and 1902 think about it and it's chaos.

>> the first new year's eve ball -- ashley: when did the first new year's eve ball drop in time square? >> 1907. lauren: 1907. ashley: you're both right you clever people. 1907 was the answer indeed. happy new year to you, dan