♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right. maria: well a big thank you thank you to nicholas giordano and liz peek. >> thank you for having us. >> thank you. maria: have a great weekend, everybody i'll see you tonight on maria bartiromo's wall street and "sunday morning futures" stu take it away. stuart: good morning, maria, good morning, everyone. you know, we do politics and

money. today, we lead with politics. there are now three document discoveries. the latest batch found in one of the president's homes. biden has clammed up. the media is in uproar. there's a special counsel to investigate. now just a few days ago biden was on a role. mid-terms not so bad, inflation down, the republicans split over the speaker election. that has changed. as the washington post puts it, " furror over documents created unexpected political peril for biden." more on that later. to the markets. stocks had a good week but we're heading lower at the opening bell today. could be some caution ahead of the three-day weekend. the market closed on monday. look at this , the dow is going to be down well-over 200 points the nasdaq down over 130. some big banks have kicked off the earnings season. not that much drama. no spectacular wins or losses, but some downside move for the big banks. maybe that's having influence

today on the market. now, look at apple. ceo tim cook will take a pay cut at his request. his pay in the future will be based on apple's stock price which happens to be close to its low, so, he might do very well if the stock rebounds. on the show today, maddie parker the republican mayor of fort worth texas. she represents the new generation of big city mayors, a direct opposite of big city mayors who are democrats. she's pro-business good heavens and we'll take a look at the white house press corps, they seem to be turning hostile to the president. what a switch. it's friday, january 13, 2023. "varney" & company is about to begin. ♪ feel the pressure, it's getting

closer now ♪ stuart: the reason why we're playing pressure is that biden is feeling the pressure that was just explained to me by our producers. all right, here we go. it is the biggest political story of the week. that is the mishandling of classified documents by president biden. i'm going to give you a timeline of how the story began and the explosion of investigations. november 4, the national archive s told the justice department about the first batch of documents found at the biden center. five days later, the fbi began its assessment. on the 4th attorney general merrick garland launched, signed john lausch to perform the initial investigation. december 20, biden's counsel informed lausch that more documents were found at president biden's private home and handed over to the fbi. january 5, lausch advised garland that a special counsel was warranted. just yesterday, president biden 's counsel told lausch that additional classified documents had been identified.

president biden is dodging questions and brushing aside concerns about where he was keeping classified documents. watch this. >> reporter: classified material next to your corvette? what were you thinking? >> let me, i'm going to get a chance to speak on all of this god willing soon but as i said earlier this week, and by the way my corvette's in a locked garage, okay so it's not like it's sitting out on the street. reporter: so the material was in a locked garage? >> yes, as well as my corvette. stuart: all right, todd piro with us this morning. in your judgment, todd, is president biden in real political trouble? todd: yes, because it's not just fox news and fox business talking about that. he received dozens of questions and by he, i mean his administration yesterday, from media sources wanting to get to the bottom of a lot of the things that peter doocy raised. when you have a situation where the media is closing in on you after you have gone quite frankly, stuart, most of your

political life, if not all of your presidency being coddled by this very same media, that has ramifications, but it's not just political. it's also legal. i watched just that clip that you aired and when i had my legal hat on i was thinking my goodness. he is making admissions against interest add nauseum. his lawyers prepared a nice tidy written statement that was very buttoned up. he went off script and created this for his attorneys to dig out of. stuart: because the corvette defense won't fly because you're not supposed to have in your private garage documents like this. todd: because you have chain of custody issues, you have security issues. none of those were in existence at mar-a-lago i might add. i'm not saying it was a perfectly perfect situation but joe biden can't have these documents in garage with documented video evidence mind you and say it's okay. it was locked. that doesn't work when you come

to the top secret document clearance that you need in our federal government. stuart: now we've got the special counsel investigation. i put it to you that president biden can't be open about the developments as long as that special counsel is investigating so, he can't come clean. he can't go public with this , that, and the other there are going to be leaks from the report. todd: 110% and i'd also caution joe biden to not do a performance like he did yesterday when he is under or out of the guise of his handl ers for that brief moment when he's on tv. that's when he mess up and if he mess up here he could be in true legal and subsequently political jeopardy. stuart: then he's got to hand it over to karine jean-pierre and she's under an enormous amount of pressure. todd: she will just go to the binder and spew nonsense but still i wouldn't have handed it over on some sort of a legal fashion. if i were him i'd have my attorneys, if at all, speak to the media and say i can't talk

about this. this is a pending matter but we'll see if joe biden takes the bait from peter doocy or in this instance every other member of the media. stuart: good stuff, todd stay there. please. look at few futures, dow off about 300 and the nasdaq at this point down about 130 points dan ives with us this morning. dan, i know you don't cover the banks specifically, but we've got the big banks reporting this morning and you've seen the earnings. we've got a good report from jpmorgan. they are warning of a mild recession. b of a saw profits in revenue rise a little bit. blackrock's larry fink warned negative markets had a substantial impact on its results. citi says that deal making is slowing down. take all these reports together. what do they tell you about the economy? >> i think you're going into what's going to be a mild recession and really what the street is baking in. i think this is the drum roll to just a very nervous white knuckle q 4 earnings season but in my opinion, combined with the fed, i think there's going to be much better than feared as we ultimately go through

despite knee jerk we're seeing today. tech stocks, risk assets, especially what we're seeing from the fed in the ninth inning in my opinion in terms of rates, we believe right now is the time to own tech not time to hide. stuart: that's interesting you say we're in the ninth inning of fed rate hikes. >> oh, yeah. stuart: we've gone from what 50 basis points, 50 basis points, no, 75, 75, 50, 50, 50, and now we're looking at 25 and ending it by the string. >> it's a game of high stakes. streets basically saying it's 11 :59 clocks about to strike midnight that's why right now you're starting to see green across screens in terms of what we've seen this year because i believe tech is under owned as i've seen since 2009. stuart: oh, music to my ears thank you very much, dan, but apple, put it on the screen please. tim cook says he's taking a pay cut this year. trying to tie his pay to the performance of his stock. dan? the stocks at a low 131. if it rallies nicely, tim cook could make some serious money.

>> but that's why cook is in the hall of fame. a tactician in terms of ultimately betting on himself and apple and there's a stock closer to 200 than closer to 100 here because the demand story is holding up despite dark storm clouds but that's why. in this type of macro, look at cook. that's the type of leadership you need from tech ceo's. stuart: it's very good public relations isn't it? i'm taking a pay cut. >> look ultimately, remember, they bet against 200 billion at 3 trillion he showed them. stuart: yeah, got it. stay there, please. thanks very much, dan. a new report reveals the top concerns of ceo's todd, i guarantee the top concern is recession. todd: and you win, so i don't need to be here any more i'm going to start my weekend early. there's actually a pretty detailed report. a recession is the top concern for ceo's across the world. last year, the same survey had recession fears but in sixth place, right behind that is inflation. so this year, recession number two inflation. beyond that a majority of the

ceo's do not see economic growth happening anytime soon. best case scenario end of this year but slowdown could go until the middle of next year and i feel like that whenever i do any of these shows whether it's your show or maria's show that's also the general consensus from the experts like dan that we have on it's that 2023 up until june maybe a little bit longer is going to be rough. hopefully it improves by the end of 2023 but 2024 is going to be hopefully a good one and a lot of hopefully mixed in there. stuart: well dan sped up that timetable saying it's going to be a pretty good second, third, fourth quarter. >> well to your point, the streets looking past what the near term, you start talking about the second half or the fed that ultimately could start the cut and i think number s that go higher that's why, i believe it could be tech stocks that rip higher. stuart: keep saying that throughout the hour. that's good stuff, all right next case sam bankman-fried post ed a statement online to try and defend himself from the allegations he's facing. in a post, he said, "i didn't

steal funds and i certainly didn't stash billions away. nearly all of my assets were and still are utilizable to back stop ftx customers. i have, for instance, offered to contribute nearly all of my personal shares in robinhood to customers." his defense seems to be, i didn't do anything wrong. todd: i'm not saying lawyers are always without fault, but from joe biden to sam bankman-fried, stop writing and saying your own statements. let your lawyers do the work, because even right now, just sitting here amongst the three of us and the nation at home, he may have said something in there the prosecution is going to take and hurt him with so if i'm sam bankman-fried, just stop. if i'm joe biden, just stop making admissions against interest at this point because you and i well know. none of the shenanigans you've reported on this show with regard to ftx happened unless sam bankman-fried knows of it, and in your experience in the money world, it's really tough to make billions upon billions of dollars disappear without some level of intent. obviously, something had to have

happened there and the buck stops at the top with sam bankman-fried. stuart: got it. thanks very much indeed. check futures one more time, please. we're down about 300 points for the dow industrials that's at the opening bell. nasdaq down 127 at this point. coming up, cnn confronted congresswoman over om tweets about the mar-a-lago raid, but she doesn't seem to be holding biden to the same standard. roll it. >> these documents so far that we know, what we know is that they were kept in a locked place that was a very small number and , you know, i don't know how important these are. the storage and the approach to this is completely different. stuart: seems to me like some democrats are beginning to circle the wagons for the coming big fight. classified documents found at the president's house in wilmington but we haven't seen any visitors logs. why not? they would tell us who had access. christian whitton takes that on

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♪ stuart: confident, that's the name of the song? the producers are trying to suggest that where is the confidence in president biden. that's a bit of a stretch, producers, i'm fairly sorry. that is a shot of wrightsville, north carolina. it's only 60 degrees, but they are nice waves. the white house is playing defense, there you go, as it tries to handle the biden classified document issue. how are they trying to spin it?

todd: hard, and unsuccessfully, but they want us to believe this was just a simple mistake. that's their basic takeaway, special counsel to the president saying, "we are confident, there's your word, stuart, that a thorough review will show that these documents were inadvertently misplaced" and the president and his lawyers acted promptly upon discovery of this mistake. now, regardless though of whether or not it was a mistake , ag merrick garland has appointed robert herr as a special counsel to investigate the documents, a former trump- appointed federal prosecutor, the white house says they will cooperate during the course of this review. i would just point out, the misplaced it not once, twice , but three times, inadvertently. stuart: awful isn't it? the latest batch of documents at the president's wilmington house , with hundreds of visitors to that house but there was no log. we don't know who they were. christian whitton is here. we don't know who these people are, were, or are, and they had access, presumably, to the files

found in the wilmington house. this can't go on. we've got to know who these folks are. >> right, and it be interesting question whether that information can be produced. after all, president biden, excuse me, vice president biden left office as vice president, you have some security, you have some accountability but it's not the level of scrutiny and control that the secret sergio marccione advice would apply to a former president, so biden says that he kept this in his garage with his corvette. that be like keeping it in your own garage. do you keep of log of people who go in there? can you have a chain of accountability? i think you actually have to start with the assumption that anything in this material has probably been leaked. we don't know that for sure but that would have to be the presumption you'd think over six years of inactivity in attention, lack of proper security. stuart: christian, i see a china connection. maybe i'm going too far here but $30 million from anonymous chinese donors to the penn data center?

hunter biden and all his problems with china, he had access to the garage and to the house. do you think there is a china connection here? is it valid for me to put it out >> definitely. the biden family has unanswered questions about the amount of influence that china has over the big guy, as president biden was referred to in some correspondence found on hunter biden's laptop. the amount of money that has popped into the center, as you said, and this very well fits the pattern of chinese influence operations and political warfare they sort of, it's not just trying to cultivate high value spies that are implanted in the u.s. government and have access to classified information the way the soviets and russians do. it's more of throw everything against the wall and see what sticks, including influencing people through think tanks and through non-profits, et cetera. so yeah, i think there's certainly a risk there. stuart: now, some democrats are suggesting that classified documents found could have been planted.

watch this. >> i'm suspicious of the timing of it. i'm also aware of the fact that things can be planted on people. things can be planted in places and then discovered conveniently that maybe what has occurred here. i'm not ruling that out, but i'm open in terms of the investigation. needs to be investigated. probably a special prosecutor should be appointed. stuart: i heard you laughing, christian, before we ran that sound bite. conspiracy theory to me. what do you make of it? >> yeah, that same congressman once suggested the island of gua m might tip over because there were too many military forces and everyone thought it was a joke and thought maybe he doesn't think that's a joke. it's interesting that the benefit of the doubt that they are willing to give joe biden. you know, they are saying this is completely different what trump did. there is actually a difference but it's not the one they think. donald trump as president had plenary authority to declassify

information. the president does not exist to serve the national security bureaucracy, the opposite is true, and trump has asserted that simply by willing something to be unclassified and it is. it's an interesting legal question. as vice president biden had no such authority. it be a bigger deal for him to remove classified information, especially if you did so willful ly and stored it an unsecured or unauthorized place, so the democrats are sort of right about the difference but for the wrong reason and wrong consequence. stuart: i'm glad you sorted that out for us. christian thanks a lot see you soon. speaker mccarthy is waiting on the biden docs. todd? todd: as you might imagine, he is anti-president trump in his regard. president claiming he had no idea the documents were there. mccarthy says i ain't buying it. roll it. >> i think if you call a lawyer to remove something from your office he must have known ahead of time so i think he has a lot of answers to the american public. the good thing about that is the american public has a congress that can get the answers. todd: so you have this all plays

out, obviously very early and will probably find documents in other places, question mark, only time will tell. i'll just say just because you have a lawyer go find the documents we don't know if those lawyers themselves had secret security clearances. stuart: that's true. other legal problem. check futures again one more time, please. i'm seeing some red ink down about 300 on the dow, down 120 on the nasdaq. we'll take you to the opening bell, next. ♪ ♪

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stuart: couple minutes before the opening bell looks like we're heading south when that bell sounds but mark mahaney is here. mark? i know your top picks for the year are netflix, uber, and bookings. if a recession hits, which of these stocks is recession-proof? >> well, the answer is that none of those stocks are recession proof. they have different levels of recession resilience. i think the key backdrop here for tech stocks by the way is what we had yesterday, which is

that any signs of moderating inflation and that's what we're seeing puts a little less pressure on these names and so this is a better year. it's going to almost certainly be a better year for tech stocks than last year was just because you're not going to have those dramatic inflation and then interest rate headwinds, but i like a name like netflix and we talked about this last week, stu, because it's very in expensive entertainment for 6.99 you get a months access to netflix again that's about the price of a large, you know, latte. it's cheap. stuart: were you listening to the show about 20 minutes ago with dan ives? he's sitting right next to me. dan was saying that this is probably coming to, we're in the ninth inning of interest rate hikes from the federal reserve and that could mean a nice bounce for stocks in the second and third quarter this year. you with him on that? >> yeah, i think so. i have a lot of respect for dan ives by the way but yeah, if you're in that late stage, and i think the bigger thing is just

the curve or where are we if you go from zero to 4% that's just a dramatic shift in interest rates and it's going to gut the growth and valuations for speculative growth stocks. we're not talking about whether we're going 25 bps and at the rate of which we're going so i just think the interest rate pressures because we're further along in terms of the inflation cycle, the interest rate pressures are much less severe. it's just a more benign not as negative environment for growth and tech equities as last year was. stuart: big tech starts reporting late next week. can you give us a general outlook? what are you expecting? >> well, there's a few names i still want to be cautious on. you still need to bring down estimates on a few names and probably google is at the top of my list of companies that the just need to tighten that belt and take some cost out of the business and they haven't yet but there are other names i do think netflix works through earnings. i like uber and i also would

mention meta or facebook. i think this is a company that took a lot of cost out with a 13 % reduction in force. i think that sets up the asset well as a stock on the long side for the year. stuart: but netflix is your pick got it. >> yes, it is. stuart: mark, thanks very much for joining us. have a great weekend. i know we'll see you real soon. >> you as well, stu. stuart: i will, thanks a lot. >> [opening bell ringing] stuart: we have 30 seconds to go they are clapping a little early this morning, but we've got 30 seconds before we open this market. we are going to open on the downside. we've had reports from the big banks earlier this morning. not great by any means and some of the outlook is for a recession. that's what they're pointing to and maybe that's why we've got some selling at least at the opening bell today. how we close, who knows. remember, we're going into a three-day market weekend because the market is closed on monday. martin luther king day. all right, we're open. we're off and running and here we go. we are, well there's only two

winners on the big board at the moment but lots of unchanged but the rest look at those. i see 28 or 27 losing ground and i see four on the upside. that's what we've got right there. that's a downside market. that's the dow. the s&p 500 also opening lower to the tune of about three- quarters of 1% and the nasdaq composite is down .85 %. let's have a look at big tech. they are all down, alphabet, amazon, microsoft, meta platform s and apple all down. the biggest loser is apple of all people down over 1%, so is meta. let's start with tesla. they are cutting prices in the u.s. and in europe bias much as 20%. now dan, you cover them. do you think this is a good move the stocks way down. is this a good move? why are they doing it? >> it's a smart strategic poker move because right now tesla given the global scale they do have flexibility in margins and given what we're seeing in the macro, especially in the u.s. and especially in

europe, i think this is an offensive move and i think this could ultimately spur 12, 15% more volumes because for tesla right now, they need to go on the offense of not defensive and i think this is the right medicine at the right time. stuart: good time to buy, $117 a share? >> i believe tesla is way over sold. we've talked about a lot of that is musk-twitter driven, and a significant upside here. it continues to really, it's tesla's world. everyone else is paying rents in ev's. stuart: i like that, very good. look at disney, please. they are in a battle with activist investor nelson peltz. he wants a board seat, ceo robert iger not keen on that. who eventually wins, dan? >> it's a "game of thrones" right now and i think iger, there's going to be more pressure, you know, in terms of cutting prices. streaming is going to be the big issue because they are spending like 1980 rock stars against netflix and others and they have to clearly curtail that but only

, peltz significant name, big holder and more activism will happen by disney and it's a bullish sign. stuart: i want to see virgin galactic, please, they are way up today, well 11% pretty solid. they say that their commercial space flights are on track to launch in the second quarter of this year. here is my question about the private space industry. whose winning? surely it's spacex or musk isn't it? >> spacex, and you've seen that with musk. there's other players in space, planet labs and some others. now it's really an arms race going after space, but in terms of what musk has built spacex, he continues to own that market. stuart: what i really like is that star link and what he's doing with star link in ukraine. he's modernized warfare. >> that's also been the case study that you're going to start to see play out commercially and on consumers, that many had skepticism about. stuart: all right what are your top picks for the year? >> yeah, so top picks is the company in redmin, i believe microsoft is the best way to play cloud over the coming years

, obviously despite the macro. i also look at apple and it's a rock of gibralter stock in my opinion especially as demand holds up and cybersecurity. stuart: palo alto networks. every time you come on the show, it has done well, its gone not straight up, but had a nice gain >> but we're in the third in ning of what's going to be a five-six year cycle and i believe palo alto is the leader there. stuart: okay, let's see how it performs, thanks, dan. i have to talk bed, bath and beyond. it is up, no it's down now, 5% today. it maybe in talks with sycamore partners to sell some of their assets. back to you, dan. i'm sorry but i think stocks like this are gambling chips. >> okay and that's why. it's that vegas sort of feel in terms of red or black at the roulette table and that's why i think you've got to stick toward quality tech. to companies that have earnings and i think you're seeing some of these casino-type names continue to roll off. stuart: you cover big names,

high valuation stocks, don't you you don't go down to second and third and fourth do you? >> look there's definitely diamonds in the rough in terms of small cap but i think the way to play this market is high-quality tech. it's not profitless tech and some of the key theme, cloud software. i think that's ultimately the names that are going to navigate the storm. stuart: what about ai? i'm intrigued that microsoft puts what 10 billion into open eye. is that the next big thing, artificial intelligence? >> we were at ces last week. ai is going to be a massive theme and when you look at what happened with the dell and redmond, i love the potential $10 million investment and it's a shot across the bow to google because the biggest ai play is really in the dell and microsoft. stuart: but you know my problem? i don't really understand what it's going to deliver to me. >> and that's in the four walls of redmond. they continue to put through the system on gaming. stuart: so by taking this stake

in ai, open eye, i should say, that's a huge leap forward for microsoft? is it? >> it's a huge leap forward and it goes back to their biggest strategic mistake in the mid-90s they didn't invest in social and mobile. not going to make the same mistake here. stuart: dan thanks. check out that big board, five and a half minutes into the session and we're down 200 points. dow winners, can we show them, please? yes we can. top of that list is caterpillar, up again, very interesting. they have been reaching highs all this week i believe. top of the list on the 500 is target up again, etsy, estee lauder, tractor supply is on there too. pinduoduo is up 4.5% on the nasdaq, jd.com, merck, move on, check the 10-year treasury please it is at 3.46% today. i call that fairly bullish when it's below 3.5%. the price of, yes, gold hit 1,900 bucks an ounce finally,

1,907. bitcoin, just a fraction below 19,000 bucks a coin. that's a rally this week. the price of oil up $78 a barrel , nat gas doing nothing at 3.56 down 3%. the ample price for a gallon of regular gas is 3.28 actually went up one cent overnight, not much, diesel study at 4.61. coming up, the white house stone walled reporters when grill ed over biden's classified documents. roll it. >> i would refer to the department of justice or my colleagues in the counsel's office but again i'm just not going to go beyond what the president said. i'm not going to go beyond what the president said. again, i'm just not going to go into the particulars or the specifics of what the department of justice did. stuart: all right not much transparencies there. here is a headline for you. the disorganized gop and other signs of the great inversion, ge rry baker thinks the republicans are the working class and the left is now the party against free speech and he has more on the great in

version after this. ♪

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stuart: all right we've been open for 11 minutes worth of business and we've moderated the logs a little bit. dow is down less than 200 points , nasdaq down less than 100. here is an editorial for you it's an op-ed actually. disorganized republicans and the other signs of the great in version. republicans are the part it of the working class, the left opposes free speech. gerry baker wrote it and he's right. it is the world turned upside down isn't it? >> it really is, yes. stuart: when i first came to america, 50 years ago, the republicans were the party of the country club type. how and when did that change? >> well it's a good question. the world turned upside down is very appropriate, because that was the music, the band played

when the british surrendered the americans at yorktown as a signal of just how extraordinary and bizarre the world was. 50 years ago as you say, the conservatives working class tended to vote democratic and seen in their economic interest and liberals used to believe in free speech and they used to be it was republicans who were sort of strong on attacking foreigner s, now we have a complete inversion. we have but the point i'm making in the article is one of those phenomenon was that the democratic party was this ideologically based party which is always fighting amongst itself. there were ideological purities es who didn't care if they were in power. all they wanted was to make sure they were doing the right thing to do. the republicans, you know, ronald regan's 11th commandment didn't fight each other. they did obviously from time to time but more interested in governing. we now have a situation where republicans are interested in ideological debates and getting

their ideology pure and democrat s in the last two years look democrats took a nation a 50/50 and through incredible disorganization actually managed to, we don't like it a lot of us here don't like it and many people in the country like it but managed to basically transform the country $5 trillion of spending, providing their woke aggressive agenda, their progressive open borders. they did that with basically no majority because of the discipline the party has. republicans need more discipline stuart: well said. one more for you leaked e-mails suggest hunter biden had access to the garage where president biden kept some of those classified documents. what i'm getting at here is a china connection. is there a china connection to this document scandal? >> we don't know. so the first thing is obviously, as has been pointed out, the school so-called school that was opened after joe biden became or after joe biden's vice president say when he went to the school of the penn-biden school in washington where he had a teaching position, a lot

of the funding did come from china so there's investigations of that. we also know hunter biden had all kinds of connections with china. the main thing, stuart, about this special counsel is we've seen this many many times. you and i we all have over the last 50 years or so. special counsel, once they start there's all kinds of things they can uncover. they will have access to all kinds of documents. who knows. hunter biden obviously had access to that garage, we know that, where joe biden's document s were found or where the government's documents were found so once you get a special counsel like this , we saw it with clinton, we saw it with the investigation into bush, some of the other investigations we've had. it's like pulling on a string and all kinds of things come up and i think this is an open very very open question as to what we'll discover. stuart: and there will be leaks, i should say, and there will be headlines galore for months to come in all probability. >> let's hope there are.

stuart: squad member jayapal getting called out for hypocrisy over the classified documents. todd who is calling her out? todd: brace yourself, stu. it's cnn if you can believe it. listen to this. stuart: good lord. >> you tweeted donald trump stole classified documents. he put not only our national security at risk but the security and safety of our allies around the world. he must be held accountable to the full extent of the law. isn't it possible that president biden is putting our national security at risk also? >> these documents so for , what we know, is that they were kept in a locked place that was a very small number and, you know, i don't know how important these are, but the storage and the approach to this is completely different. todd: a locked place? so nobody in the history of locks has ever breached a locked place. garages don't sound too secure to me, stu, so far as you know classified documents have been found in three places, but the fact that that's their

rebuttal, oh, it was locked. really? a garage? i could break into your locked garage right now if i had to. stuart: yeah, the corvette defense won't work. todd: yeah. stuart: what do we know about this special counsel, robert her r? todd: he's currently a partner in washington d.c. law firm, big law firm, gibson-dunn. they know how to operate a litigation. they are a white collar crime, national security firm at least that's his practice and he served as the top federal prosecutor from 2018-2021 and appointed to that position by former president trump and prior to that an associate deputy attorney general from 2017-2018 and assistant u.s. attorney in maryland from 2007-2014 and now fbi director christopher wray. attorney general merrick garland giving a resounding endorsement. >> i am confident that mr. her r will carry out his responsibility in an en-handed and urgent matter and in accordance with the highest

traditions of this department. todd: we'll see what answers can be provided during the investigation. i have no doubt about his lawyer ing skills. his resume is top notch. my question is how swampy, and that's the question with all these individuals. i'm not pre-supposing, let the gentleman do his work and see what happens but that's always the concern if appointed by merrick garland you have those wray connections. d.c. has a tendency to get insul ar. let's hope he doesn't fall victim to it. stuart: i'm just dying for the leaks. todd: i love a good leak. stuart: thanks, todd. coming up do not forget to send in your friday feedback. you can e-mail your questions, comments, critiques whatever, to "varney"viewers@fox.com. the mega millions jackpot is a whopping $1.35 billion the fourth largest lotto ever. what are the odds you win? we'll tell you, next. ♪ ♪

then i got the dexcom g6. i just glance at my phone, and there's my glucose number. wow. my a1c has dropped over 2 points to 7.2. that's a huge victory.

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tonights drawing. reporter: certainly, stuart. if you want to be a billionaire and win this jackpot you have a one in 302.6 million chance of winning. so, yeah, good luck. i don't know how much luck is going to help you with those odd s but hey, someone could win and if they do win, they have the fed in part to thanks for this giant jackpot. that's because the jackpot is determined off of to things. first, it's determined over projected ticket sales. that second piece is that it's also the 30-year treasury rate and that's because many people take the payment as an annuity over 30 years and the fed rate has a direct impact on the 30- year treasury rate which you can see has gone up over the past year, which means that these jackpots have gone up over the past year. but here is a thing. it's really only a small piece of the pie. we spoke to someone from the ohio lottery. they say the biggest thing is really those projected ticket sales and there have been two things in particular for this jackpot that have driven that up. one, the holidays is a time when people like to play the lottery

and the second is we had that number one jackpot back in november over $2 billion and because people were so excited about that, it has driven up the hype and the excitement for this mega millions. i mean who knows. we're already at 1.35 billion. we could be again breaking a record with this jackpot. personally, i'm hoping not, because i did buy a ticket. i'm here all day. i can't not play. i'm not usually a lottery person but hey, maybe this will be my chance to be that one in 302.6 million, stuart. anything could happen. probably not to me. back to you. stuart: that is so true. anything can indeed happen but when you're tired of giving money to the government let us know. madison thank you very much indeed. good to be with you. i'm going to say it now and say it again. the government-run lotto system is the worst deal ever. do you finally agree with me, todd? todd: i respectfully disagree. i always agree on your own show because i like coming back but on this i respectfully disagree with you. it is a great deal for government. they make a lot of money off this. stuart: i'm talking about to me.

todd: i was preparing my rhetorical joke on the commercial because think about how much money the government makes off. stuart: a ton of it. that's right. what do you think? i think all the government-organized lotto is the worst deal ever. what does dan ives say? >> well look if my ticket wins i'll take you to an epic lunch next week that's what i know. stuart: have you bought a ticket >> i bought a ticket. luncheon me if i win. stuart: how many did you buy? >> i bought five. stuart: a dollar each? todd: i'll see his lunch and raise you dinner. see if you can stay out 8:00 p.m., stu. stuart: no, never. todd: even if i win you the lottery and offer to buy you an amazing dinner? stuart: i don't eat late and i don't eat out. simple as that. but i do want to say thank you very much indeed, todd, and dan, for joining me. you bailed me out very nicely. much appreciated too. all right, have a check of the markets, please. 30 minutes worth of business and this market at this moment is coming back. we were down 200 on the dow. now we're down 70. we were down well-over 100 on

the nasdaq. now we're down 60. take any bets on how we'll close out today? i think we might go up by the closing bell. we'll see. just ahead, tammy bruce, sean duffy, steve hilton, tomi lahren 10:00 is next. ♪ ♪ get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp ..

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