to take a quick market check look at the features ahead of the december job report out tomorrow we started the session and the futures were indicating a higher open but now straight red across the board the dow indicated the word by 175 and s&p by 172 in the nasdaq by 73, we have a big job number out tomorrow, a 102nd final thought. >> jobless claims came in lighter than expected so the fed will hike rates longer than expected which is not good for stocks. >> jobs are hot i think we have 5% in terms of rates because the job market is way too hot. you are not having an increase in on appointment rate. jackie: jerome powell said if i don't get ongoing engineering, that is what is to come in 2023. >> no pivot. jackie: so great to be with you guys, mark tepper, tiana lowe, so great to be with you. >> in morning jackie good morning, everyone. tthe go shooting all night tryig to agree on a new speaker kevin

mccarthy has made new concessions like freedom caucus memory unfree committees the commitment to legislation the freedom caucus really likes and possibly a rule that allows just one gop member to stand up and demand the speaker step down. here is my opinion, this is a power grab, hold out, 20 of them are trying to dictate policy to the 200 moderates. the house reconvenes at 12 noon, there should be a ballot soon after and then we will find out if the overnight negotiation to produce a winner. the republicans have promised to deal with the border on day one. but there's still hung up on the speaker's election and president biden has finally jumped into the issue. he speaking about immigration at 1115 eastern this morning, he's planning a visit to the border next week. the republican house fiasco has given the president an opportunity and he has taken it.

solid gains on the market wednesday but a mixed picture emerging this morning, strong private sector job growth, that is not helping stocks. looking at a 200-point drop for the dow down 75 - 76 points on the nasdaq. red ink on the side of the screen, price of gas $3.28 for the average of regular that is up to cents overnight and 13 cents in a week. no change for diesel still at $4.68 a gallon. look at nat gas, warm weather especially the northeast pushing the price of nat gas to under $4. on the show today congressman chip roy he is one of the conservative holdouts who's been at the center of overnight negotiations. congressman byron donnell will join us he had 20 votes for speaker and some of the six pallets. he is on the show to and will look at elon musk, a year ago he was times person of the year described by time then as the richest man in the world tossing

satellites into space and harnessing the sun, the media is not so hot on him now he destroyed twitter censorship of conservatives in the left hated. ps musk came out in support of kevin mccarthy, it is thursday january the fifth 2023. "varney & company" is about to begin. ♪. stuart: that is cruel, another one bites the dust. are we talking about the speaker's election or what. well done you hit the nail on the head. the political drama in washington, that's where were going to start in the six votes taken so far, kevin mccarthy has not got enough support to become speaker but as we said the been negotiating all night. any progress winning anybody over to his side?

>> being optimistic the house did vote to adjourn last night meaning mccarthy supporters could be making progress in getting the votes to push them over the finish line, they don't have them yet they meet at noon for a seventh vote or vote to adjourn again. we will see. this is somewhat a draft deal that is shaping up this is what mccarthy seems to have given into, two seats for the house freedom caucus on the rules committee they will receive the amendment process for the floor, one member could force the vote to oust the speaker instead of five in standalone votes for each of the 12 annual appropriations bills, many never kevin's are fearing with the spending bonanza so we need to get that it. all of this is fluid, it's looking better, where are we, day three, six votes, no speaker and no name, no alternate name that everybody can get behind. stuart: do you think it could be better because of the overnight negotiations and concessions

that were being made. >> slightly better. stuart: now we see what president biden has to say about this trauma. roll tape. >> it's embarrassing for the country. literally this is not a part of reality to have a congress that can function is embarrassing where the greatest nation in the world, how can that be and we had a lot of trouble -- i'm sorry for the noise a lot of trouble with attacks on our institution already, that's what worries me more than anything else. stuart: the former governor of arkansas and the governor joined us now. you agree with the president that this is embarrassing for republicans? >> i think it's an incredibly shortsighted move on the part of 20 people who represent 10% of the republican caucus and they somehow want to dictate to the 90% that disagree with him in.

this is simple math but biden would say is the most embarrassing thing is ridiculous, the most embarrassing when he turns away from his speech and shakes hands with the ghost and has to have somebody lead him off the platform, i don't think he needs to stick his nose into this, their plenty of republicans doing it. one of the things i think people need to pay attention to when people say this 10%, they are the real patriots their authentic republicans and everybody else is a rino, that is nonsense, jim jordan is not a rino neither is newt gingrich, to say the anybody who doesn't agree with the 10% is a rino is plain nuts. here's what i want you to pay attention to, i had heard this. when some of the demands are made, some of it you have to promise not to punish us for the attempted coup, you have to give us leadership positions. if it's about principle, if it's truly about the greater good of

the conservative cause you're willing to sacrifice your own interest for the because what i'm hearing some of these guys said, don't punish me, make sure i get a leadership position. what we now are beginning to see it's really about them. it's not about the principles and that's what we ought to pay attention to. stuart: i want to focus on one of these concessions which kevin mccarthy may have made, one gop house member to stand up and demand the speaker vacate the chair, one has to stand up to do that, i don't see how you could possibly run this through the house with that kind of role system, what do you say? >> i think it would be insane to do. they may end up doing it but i hope after they do how stupid that is and they change the rollback you can't have one person dictating to the entire body. it's one thing to bring up an issue, that is fine, one person

should be able to do that but one person ought not to be able to gum up the works for the rest of the people who want to get down to the people's business and get these investigations launched and the border secure there is serious business to take care of and this is the game. 10% need to play along game got a short game, that's what has to change or. stuart: governor, thank you very much indeed. thank you. fed officials, fed reserve officials are warning about interest rates didn't do the market good yesterday. >> they continue to say will do what it takes to get inflation down. these were the minutes from the december 14 meeting that's what policymakers hiked rates 50 basis points and though show the fed determined to hold rates high as long as needed to tame inflation, officials do want to get to 2% we are a long ways off, this is a worry for the market. i'm quoting city, they said it best fed officials are growing more uncomfortable with the market underpricing there likely

policy path, the fed wants to stay superhigh to convince the market that they're not going to pivot the big consequences if they don't picket and they take us into a deeper recession than they intended. stuart: same old problem. a difficult experience. let's look at futures on the left-hand side of your screen, plenty of red ink, down 200 on the dow, down 80 on the nasdaq. adam johnson joins us this morning. i know you came out with predictions for 2023. i read them and i focused on one. one cup my intention particular. >> they are potential surprises they may be predictions but their surprises things that i don't think people are talking about when they should be. >> here's one that caught my attention, you think bitcoin could take off if the fed favors a stable coin. >> no one's expecting this

everybody is saying bitcoin is down 17 on his way to 9,008,000, whatever it is. the federal reserve bank of atlanta which is one of the 12 regional banks that make up the fed came out with a report in november whereby it said we actually see something called, for lack of a better word a fed coin, a stable coin link to the dollar that would be backed by the central bank, here's why it would speed and enable the transfer of money between banks, were not talking you and me saying give me 20 bucks for drinks last night, were talking about as an example mitsubishi bank and tokyo wants to get $100 million worth of yen into the new york branch, needs $100 million of yen and tokyo and $100 million in new york you created stable coin and it attaches the money and simultaneously gets transferred you don't need to have money and three places, you free up the capital it makes it more efficient.

stuart: is fed to stable coin would make bitcoin take off. >> yes, what you are effectively doing is legitimizing the entire system. we focus on the price of bitcoin, that is fair that's the shiny thing but it's what bitcoin can facilitate or accomplish, remember if you went into sears and you bought something and they write it up and put in the tube and send it to accounts receivable and it would come back down and you would sign it. that's what bitcoin is the pneumatic tube for the 21st century. >> what about the other coins? >> each coin has a different role there linked to the backside of it which is a block chain network because you're putting all the information and i know it's kind of in the weeds but it's important to understand your putting all the information on the transparent ledger that everyone sees, adam o stewart $32.52, adam agrees here is adams bank, stewart bank, it's

going to occur at 12:07 p.m., let's make it today at 12:07 p.m., it happens, everyone sees it, all the money laundering and the boxes have been checked because you know where the accounts are, the taxes have been paid, the fees have been taken out, it's all crystal-clear and happen simultaneously and the fed is behind it. stuart: if you get a fed stable coin. >> it legitimizes the system, by the way i don't know if you saw yesterday coinbase was up, silver gate was up even though it's been fined $50 million and has invested 50 million to create money laundering software, the market love you because the regulators are getting involved legitimizing it. stuart: the first time nine a the opening block talking about crypto's without talking about scandal. >> thank goodness, progress. here's what's coming up, president biden may be making the first trip to the border since taking office, watch this. >> are you going to go to the

border when you had to mexico. >> that's my intention, were working out the details now. stuart: will the president finally and that we have a border crisis, he does speak to the nation at 11:15 a.m. the freedom caucus nominated byron donalds for house speaker, is he actively seeking votes today in the negotiations overnight? i will ask him because he's on the show next. ♪

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are looking at 70 degrees right there right now. kevin mccarthy has failed to get the votes he needs to become speaker, the freedom caucus has nominated byron donalds as a choice, watch this. >> there is an important reason for nominating byron, that is this country needs a change, this country needs leadership that does not reflect this city. this town that is badly broken. the house of representatives is the people's house. stuart: congress elect byron donalds joins us now. very much in the news and were glad to have you on the show again, congressman have you been actively seeking votes overnight and into this morning?

>> actually right now what everybody is trying to establish where is the republican conference, is there a pathway for things to come together and if not what is the next steps forward. >> to see any progress this morning. >> were having very fluid conversations right now. so they have been productive but really not clear at this point. stuart: you say they have been productive, is that about the freedom caucus folks getting onto key committees and having a say and what legislation is debated and when they vacate the seat clause, so anybody in the gop and the house can't stand up, one person and say vacate the chair, is that what you're talking about, these are concessions? >> some of that are elements but overall the biggest thing is making sure that the people's body actually functions away is supposed to. i've been here two years but i've been observing politics for about ten, one thing that is clear the speaker's office has

consolidated more power from the membership so is this place is going to work appropriately to take care of, all the concerns that your viewers talk about with a stable economy, sound energy market, secure border, currency, purchasing power isn't eroding the ability of people to put food on the table then washington has to work, what you see right now is an open process with the leadership of the house of representatives is being discussed, debated, negotiated and i think that's a positive thing that's what were trying to do. >> the concessions that they talked about are they enough to get someone like you or the other 20 members, enough to get them to change their vote and vote for mccarthy? >> we will see. stuart: would you vote for mccarthy under any circumstances, would you do

that? >> i'm not going to do that with you right now, i love you and i understand what you want me to say and accomplish but right now were in the real negotiation of real conversations and at the end of the day i been saying all week i fully expect elected speaker of the house this week, i think we will get that done but right now a real critical point, i'm going to respect my other colleagues to make sure that we do the stuff the way it needs to be done appropriately. stuart: we respect that were glad to have you on the show. have one more item to deal with if you will the democrat colleague cori bush attacked you online in a tweet she calls you a prop for upholding white supremacy, i would like you to take this opportunity to respond to that. >> first of all i thought it was blatantly outrageous, that sucked, to be honest with you, i feel bad that she really put that out there because if you

see a black man rising, but the man rise even if you don't agree specifically to my policies i would argue she should sit down and debate me one-on-one, we could do it on your program and cnn and msnbc, i'm open to all of that, to throw a statement after i thought the complete wrong thing to do as a black man to a black woman i never would've done that to her, it's a shame she did that to me. stuart: insults. thank you for joining us we appreciate it. i know you have to go back to negotiations and were glad you were with us, we appreciate it. thank you. >> thank you. stuart: florida senator rick scott wants to shake up the republican leadership in the senate as well, tell me more. >> he saying the same the status quo in washington and the senate he says that the body by the gop leader mitch mcconnell in the country is on the road to woke socialism and he put that in his ad.

watch. >> were on the road to woke socialism and republicans are just a speed bump, it is time for problems to be bold, speak the truth and stop caving in. >> the refresher is, i forgot this he made a long shot to oust the leadership from o'connell and the obviously lost but he's digging in his heels, when you look at the photooptical that the president is having it's going to be the border but just yesterday he's there with mcconnell and kentucky celebrating a bipartisan when, the infrastructure law, that does not look good for many republicans including senator scott. stuart: he's out with the ads. check features again, we have seven minutes to go before the market opens and we have red ink all across the board down about 200. the opening bell is next. ♪

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stuart: have red ink on the left-hand side of the screen dow is up 200, the nasdaq up 100, keith fitz is a market watcher

of the morning i want to look at the overall market, i want to look at tesla down over 70% over the last year, the last 12 months and down again this morning are you going to do any debt buying with tesla and if not why not. >> actually i am i been buying most of the way down and i may live to regret that move but what strikes me betting against musk is like betting against jobs back in the day the company is making the right moves in firing the right cylinders, he simply an easy target because of the controversy surrounding twitter and everything else is involved in. stuart: you are buying it and you will continue to buy at these levels, correct. >> i may live to regret it but i don't think so. again i read your stuff and i know that you believe oil goes above $100 a barrel, why do you think that and which stocks are you buying if it does go back up

over $100, let me take the second question first hopefully i'll buy the stocks before goes to 100 because i want to get the ride that goes with it i'm good to be looking at chevron because big dominant player global footprint the reason i'm so keen to do this the west is pricing oil if there's going to be a recession that's foregoing the conclusion, what i'm attracted to and the reason i'm going after this saudi's charm offensive and vice versa that could account for huge portion of exports at is going to lead the west table scraps if you will and that could be supply and demand to make the price go higher over time as the world recovers into next year. stuart: $100 a barrel oil will have a negative impact on the price of gasoline and that will have a negative impact on inflation rate which will have a negative impact on america's economy, have you thought of that? >> yes, i do boom, boom, boom and i agree with your logic and reasoning a very tough deal but if you're investor those are the

things that you have to grit your teeth and go where it's going to move. >> we have a couple of seconds you have any comment of the crash on microsoft the last couple days. >> the same kind of thinking there lumping big tech obvious one of the strongest in the world i get the mistake i'm content to buy more of that stock to. >> thank you very much indeed, tesla and microsoft on the buy list of keith fitz. 20 seconds to go for we open this market, were expecting red ink, 830 this morning strong economic news came out over 200,000 sector jobs reported in the last month that the strong performance, market is not liking that much were down 174, the market is open it is 930 eastern time this thursday morning and it's down 160 in the first couple of seconds the dow

industrials, the dow 30 and i'm seeing some winners at the top including apple up a few cents per share the s&p 500, where is that in the early going it is not a half a percentage point, nasdaq composite, down two thirds of 1%, where's big tech probably mostly lower all lower, apple, amazon, microsoft, alphabet, meta forms opening on the downside, show me amazon there get it cut more employees than they first thought, susan is back with us, what is with amazon, 18000? >> 18000. i sent to the amazon ceo last night confirming 18000 jobs are being cut at the largest e-commerce payer in america that's more than 10000 that was reported and tech layoffs that any single company so far. most of these will be the corporate division think of white-collar jobs, office workers that represent 5% of

those numbers. if you include the hourly staff the ones that conclude the fulfillment centers, 18000 isn't that much 1% of what a half-million the amazon employees all around the world and the majority including the andy will be in amazon stores, technology and the hardware and devices like alexa and fire sticks, amazon is the latest to cut jobs, yesterday at salesforce 8000, meta cutting 11000, twitter we know elon musk has fired 50% in job cuts at the end of last year you get a challenge in great numbers, they were up 129% from the year before that is the highest in two years, it's a tough economic condition that were living in amazon had a pretty rough year at trillion dollars in value and reported the first loss in seven years, you've seen somebody rough years throughout your

career, things go up and things go down and it eventually balances back, the stock is up 40% over the last year. >> a trillion dollars. stuart: applesauce to trillion, tesla's lost close to a trillion i think. >> tesla has lost close to trillion. >> anyway let's look apple or microsoft. >> i think microsoft lost to trillion i wonder what that feels for the stuart varney portfolio. stuart: not good. microsoft and another $3. let's start with apple because apple is recovering, sub 130 which is down about a quarter from last year, apple supplier foxconn with output in december better than expected that's despite the china disruptions to in last year, back to normal 90% capacity apple guided for production of the high-end apple 14's to be impacted over the holiday. , also foxconn, let's see if we

can bring that up the premium iphone contract, that stock is rallying that mean apple is trying to diversify away from foxconn, microsoft called a by this morning by da davidson worth 270, that's what i mentioned to you, the average of all analyst, microsoft stock you can get $50 an upside and a lot of buzz on gbp artificial intelligence program that microsoft invested a billion dollars into which could prove to be the best investment according to a lot of silicon valley in the future and they could incorporate artificial intelligence into the search engine being in it could be a google killer in the future. >> that is gpt, artificial intelligence, if you input, i don't know if you try to i've tried it but it's very creative.

>> articles from what i've seen. >> journalist, okay i'll check it out. we have to talk crypto is with us this morning with crypto bank, silver gate another selling assets because deposits have fallen hard is silver gained serious trouble? >> right now they survived a billion dollar bank run so far but this is pretty bad when people are rushing to get their money out especially institutional clients that deposited their savings and their holdings in investment is silver gate we had to as a result the 8 billion-dollar bank run they had to sell that and they lost $750 million. last quarter one quarter alone they had to raise cash to fulfill the withdrawals, this is a big deal because is the lack of sediment and credibility in the crypto market and coinbase getting a downgrade for cowan only worth $36 to cowan they

called it a $75 stock, low visibility meaning sediment from the fts is hurting everybody and not everyone is going to survive. stuart: listening to tesla more bad news on the deliveries, down again this morning. >> it depends on how you read i guess it's a bearish sentiment on tesla, china deliveries 55000, the lowest in five months but also 55000 number is more than the next three competitors combine in china so is down 44% from november, sure but i was savior delivering 55000 in the world's largest car market and still more than everybody else combined that's not a bad number but the sentiment is obviously bearish on tesla. >> $108 a share, the lowest in two years. tell me about bed bath & beyond it looks like it could go out of business. >> it's really surprising because just about 45 minutes ago yeah bed bath & beyond

struggling to attract customers and drive sales, their exploring financial options including filing for bankruptcy, this is surprising, don't forget remember ryan: from she we and gamestop, he bought in thinking there is some way to turn around the company, apparently not because you bed bath anticipating a net loss of $385 million and that's a jump of 40% loss year over year, even ryan cohen can't step in to save the company even with 20% discount and coupons that you get the mail. >> has he lost his shirt? >> i would not feel sorry for him if he does, he lost enough money to in gamestop. stuart: is a time for mccarthy to step down in the speakership election? colorado congressman elect tim buck seems to think so, watch this. >> at some point this needs to break loose he needs to make a

deal to bring the 19 or 20 over or he needs to step aside and give some videos the chance to do that. stuart: the house reconvenes at noon, will find out soon the great resignation isn't over yet we saw a large number of jobs available, why aren't people feeling those job, jeff flock reports after this. ♪ living with metastatic breast cancer means i cherish my memories. but i don't just look back on them, i look forward to the chance to make new ones every day with verzenio. verzenio is proven to help you live significantly longer when taken with fulvestrant. verzenio + fulvestrant is for hr+, her2-

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stuart: 11 minutes worth of business on wall street were down 400 points on the dow, 150 on the nasdaq, strong economic report this morning, the market did not like it, what the fed may do with that, more than 10 million jobs are available in america right now, why can't employers find workers to fill the jobs, the cofounder of home depot says it's because of

socialism and woke lazy people, he is about to report i know you're talking to people there, do they agree with bernie, i know you won't but will the people? >> folks that we talked to were not strident as mr. marcus though also suggest were too fat and too stupid to work, however, i will say this they do see what we see as we toured around a lot of signs and windows wanted workers in the jobs going unfilled and several of them did suggest to us that perhaps there is a bit of erosion and the will to work among some americans. >> it seems like in general there are jobs open but not the right people so a lot of them, the thing is our economy is more highly specialized. >> people know when they wake up to go to work, everybody wants

the easy life it's not right. >> a lot of people to own checks, free money. >> people made choices in their lives to say am going to do something different. >> nobody wants to work, everybody wants free money. >> free money as you can see from the chart the number of job openings remains high down a little bit from the high but some people did decide to do something else after the pandemic who didn't have to work, you for example don't need to work i know you come to work because you think you provide a service, i don't necessarily have to work but i do commend to try to keep you straight from day-to-day so i sold your own. >> soda why i happen to like what i do and it pays well, jeff flock, thank you very much indeed, look who's here i want to comment from stephen moore who's been listening to this

exchange, is bernie marcus wright, socialism killing americans worth ethic. >> to some extent he is, happy new year you look at what's happened especially with the younger generation of workers which is interesting poll they came out the other day that asked various generations about how they felt about work and it's pretty clear that the younger workers, the damn alleles in jan ask don't put as much stock in the importance of the job and showing up for work on time in being a top performer than previous generations have. has there been an erosion of the work onto work ethic in america, i think there has been but i don't say that with joy and if you talk to employers you hear the same thing. there's another component that is important which is the government isn't helping it's a new study shows, you can make

many state 60, 70, even $100,000 with two people and employ collecting all these benefits. why in the world is a government subsidizing people not to work, we all believe in a safety net but 75 or $80000 for watching netflix all day doesn't make a lot of sense. stuart: a great safety net have to say. stuart: stephen you're an economist and the economist at moody's are warning of a slow session that would be a minor recession that last the whole year, what you see for this year end the economy, slow session? >> i was struck by the numbers that came out this morning on the labor force which shows the adp report showing surprisingly strong amount of private sector hiring in the month of december, that is good news certainly but i have to say i think we hit the tip you heard first on the varney show i think this is the tip of the employment on the

united states and begin to see more and more layoffs in 2023, what did you call it, the term. stuart: a slow session. a slow recession is coming in the only question to a soft landing or crash landing but i tell you i talked to bob funk who is one of the chairman of express which is the largest temporary employment firm in america he has a spin on the labor force met were than any other person in america and he seen a real slow down now and borders from businesses who want new workers and you been reporting on the layoffs, good news on the workforce, get a job if he can now because i'm not so sure those jobs are going to be there to or three months from now. >> stephen moore we have been warned, thank you very much, see you soon. i love being on your show, they pay me to do this, it's amazing. stuart: it's a wonderful thing,

i love it. the number of new car owners with a monthly payment is at an all-time high, lauren how many people are making a payment of over $1000 a month on their new car. >> 15.7%. >> of all new car owners 15% pay more than a thousand a month. >> that's a lot of money i experienced this when we went car shopping a couple months ago i could not believe it the monthly is over $1000 because the average cost of a new car is $46000 and interest rates are going up the average rate to finances around 6.5% and when you go to sell it because the used car market which was red-hot is cooling you don't get as much for the car anymore and to be more dismal look at this auto sales for last year in the u.s., we used to get 17 million a year, 13.7 million in 2022 a

decline of 8% in the lowest in more than a decade. >> imagine in your 20s and 30s and you have a family, you have a house in your pain on a mortgage and a thousand dollars a month on one of your cars. >> and you have a family so you need a larger car which is generally more expensive so you can't get a cheap small car because it's not feasible for your family. stuart: it's tough out there, thank you. do you remember this clip from back to the future. >> you have a real attitude problem. >> you remind me of your father he was a slacker to. >> and i go now. >> with behavior problems on the rise, schools are looking at alternatives to avoiding suspending students, they want counselors involved, good story, we got it. the white house is downplaying the cm bankman-fried despite meetings at the white house, we're going to take a closer

look at the connections spf in the white house. ♪

stuart: the record shows cm bankman-fried of ftx in crypto fame met with senior white house officials at least four times last year, the white house is trying to downplay those meetings, edward lawrence is with us, what is the white house saying about this. >> it's interesting he's been in this building as you mentioned four times, he had more access to meetings inside this building and many other folks, as you mentioned sam bankman-fried met four times as senior officials and many of those times his brother was also in the meetings and his brother had his own meeting at least one sam bankman-fried gave us brother $12 billion for his charity which pushed the democrats agenda the white house downplaying the visits by the second largest donor, listen. >> the white house regularly engages with officials from

industries and sectors including leaders in business and later an non- for profit, again this meeting with sam bankman-fried was focused on the pandemic prevention. it matters in crypto currency in crypto exchange. >> you don't know what sam bankman-fried has to do with pandemic disposers there. but the department of justice is helping hundreds of millions of dollars missed used by sam beckman freed, defense targeted contested shares of robinhood, then call back money and silver gate capital accounts the indictment of illegal campaign donations including using other names to donate more than the law allows. much of the money directed at democratic candidates, his executives donated to some republicans, those donations to campaigns as well as charities were sam beckman freed directed the money could be taken back by

the feds. already some of the charities and political groups are saying the money has already been spent so this could get very messy in terms of trying to get back some of the money for the investors who were cheated. stuart: very messy and guaranteed. back to the market, and business for 25 minutes and full of red ink the dow is down 330, nasdaq down 120, look at microsoft. the ceo of microsoft just said he's going to get two years of pain before we get a massive tech rally, maybe the year of pain the first year was 2022 may be 2023 is good to be a year of pain as well but then says the ceo up she goes in a big tank rally, still ahead bret baier, will cain, the 10:00 o'clock hour of "varney & company" is next. ♪

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