maria: welcome back. one of my favorite stories of the day, dog walking becomes a money-making business, new yorkers who can make up to $100,000 a year. todd. >> my good friend from law school, when we graduated while he was practicing law, started a company called who leapt the dogs out in san francisco, sold it for a a lot more than $100,000. martha: -- maria: wow. what do you think? >> what am i doing here? i could be making six figures out spending my day with dogs. maria: i love it, james. >> it's a great labor market. i don't see a recession in new york city. maria: all right, thanks, everybody. have a great day, everybody. we'll see you origin. stu, take it away. stuart: good morning, maria, and good morning, everyone.

microsoft's raw numbers appeared around 4:00 eastern, and microsoft's stock went straight up. then came the call; that is, guidance from top executives. look at the stock the now, it is down sharply, off $7. that would be, percentage, down 3%. the main problem seems to be that the call revealed microsoft's all-important cloud business is slowing. it was a gloomy outlook. and now we're seeing the microsoft effect. other big tech companies moving down this morning. the worry is that amazon and google, for example, will show similar cloud business problems when they report. in fact, it chilled the whole market. the dow industrials will be down about 280 odd points at the opening bell and the nasdaq down 200. that's a selloff. look at tesla. musk's company reports late this afternoon. don't mow whether he will be on the call. he will certainly make it entertaining. tesla's stock is dragged down in part by the microsoft effect. it's down $3.

theme of the week, energy price inflation, here it comes. gas up another 4 cents just overnight, the average for regular is now $3.48. diesel's going as well up. up 3 cents overnight. there is a tank deal for ukraine. after weeks of argument, the u.s. will supply 30 m1 abrams tankings. the germans will chip in with 14 of their leopard tank things. d.c. and berlin a are wait waiting for putin's response. exasperation at the border. 20 states are suing biden administration going after the new humanitarian parole program which allows 30,000 migrants a month to come in from 4 specific countries. bold action from speaker mccarthy. he has removed eric swalwell and adam schiff from the house intelligence committee, and he's taken ilhan omar off the foreign affairs committee. the democrats say it is political vengeance.

bold action from iowa governor kim reynolds. she has signed a sweeping school choice bill. iowa parents will be able to take public money and spend it on their children's private education. the teachers union is not happy. it is wednesday, january the 25th, 2023. varney and company is about to begin. ♪ if. ♪ ♪ ♪ you better make up something quick. ♪ you're gonna cry, cry, cry -- ♪ ooh, baracuda. stuart: a bit of a shriek, if you ask me. there we go. [laughter] it is, isn't it9? lauren: yeah. i actually have no comment on this. stuart: really in that's to not like you. lauren: there's no tie-in, doesn't make me feel like -- sorry. stuart: okay, we'll leave you

out of the conversation. lauren: oh, no, i want to talk movement. stuart: it's been taking a beaten. lauren: we got the numbers and the stock was up 4%, and then the call and everything went down. so amy hood, the cfo, she said azure's growth was expected to slow between 4-5%. that's a bright spot for microsoft, their cloud computing unit. they grew market share by just about 31%. executives on that call also warned that sales in the quarter will be 24r50es a billion dollars less hand expected, and in that means the slowdown we saw at the end of last year bleeds into this year, and it's spooking wall street ahead of reports from apple, amd, google. that's next week. one more black eye, outlook, team, xbox live and azure all experienced an outage, and microsoft is blaming a network change on that issue. stuart: it's absolutely --

lauren: sorry. stuart: there you go. don't look at me like that, bahnsen. david bahnsen is with me, by the way. what does microsoft's report mean for the overall market and big the tech? >> it's still early must have that i don't know if it's going to be a trend, but it's something i expect throughout the year that i think overall guidance has to come down, and it's mostly going to come down in big tech where expectations were the highest. this wasn't a bad report, it was just a less good report than expected. that that's all it takes when valuations are that high. stuart: so that's it for the year for other big tech companies? >> we're not many a recession right now. if we're going into a recession, you would think this would get worse, not better. that azure portion of microsoft's business has been phenomenal, their cloud growth has been huge. but it you have an overall business slowdown, it affects things like application. stuart: movement is not the -- can microsoft is not the kind of stock you would buy. >> it was a great dividend payer.

they had never paid a dividend, and all of a sudden bill gates retired, george bush cut the dividend tax and, lo and behold, microsoft became a huge dividend player. they just didn't keep growing it. stuart: thanks, david. sit right there, please. more classified documents have been found, time at former vice president mike pence's home. take me through this one. lauren: pence found the documents january 16th, he told the national archives, they told the fbi. they were found in his home in indiana, but just who months ago he sat in that home and denied having mig. >> did you take any classified documents with you from the white house? >> i did the not. >> do you see any reason for anyone to take classified documents with them leaving the white house? if. >> well, there'd be no reason to have classified documents, particularly if he were in an

unprotected area. lauren: frustration the, questions, why does this keep happening especially in the executive office? interesting that pence's former boss, donald trump on truth social, came to his defense. mike pence is an innocent man. he never did anything knowingly dishonest in his life. leave him alone. but we're just getting started now with who had what, when and where. george w. bush's office, no classified materials here. barack obama's, no comment. stuart: okay. it's still a mess. lauren: it's a mess. stuart: we need clarity, and we haven't got it. there you go. 20 republican-led states are suing biden administration over its migrant parole program. david avella joins us now. program allows 30,000 migrants a month to come many from 4 specific countries. it, this bill is -- this is not a solution to the border problem, just stopping the parole program.

that's not a solution, is it? >> there are four democratic a mayors in the last two days that have come out and said the biden administration needs to do something. this lawsuit would allow them to actually join in and take action versus just talking about biden administration needs to do something, making it a bipartisan lawsuit are. having said that, stuart, this trial or case will be a cake walk for the biden administration compared to what house homeland security mark green is about to take on and make, hold your cat -- mayorkas accountable. congressman green has said he's going to put two house homeland security staffers in the border office so the house committee can get thyme updates -- can realtime updates, because there's questions about whether the biden administration if has any clue about what's going on on the border.

stuart: next case, speaker mccarthy the has removed three democrats from their committee assignments. they call this political vengeance, speaker mccarthy says it's about national security. roll that tape, please. >> this is not anything political, this is not similar to what the democrats did. those members will have other committees, but the intel committee is -- [inaudible] the intel committee's responsibilities are national security to america. integrity matters. and they have failed in that place. stuart: hey, david avella, which is it, national security or political revenge? >> there's three things to think about with this. but members of congress get the exact committee they want. st not as if they didn't get any committees. in fact, swalwell's on the homeland security committee. they all got committees. they may not have got the committees they wanted, but that's how congress works sometimes. two, if you looked at all of the

facts put together, adam schiff is the george santos of the intel committee given schiff's proven facts of lie after lie when he was chairman of the intel committee. and, three, the great irony to all this is this is in many ways a gift to adam schiff as he wants to leave the house and go run for the senate. and in a democratic stronghold like california, him being made the martyr will only help him if he decides to run for the u.s. senate. stuart: you're right. he could well be a senator from the state of california which always elect ares democrats. decade ahell rah -- david avella, thanks for joining us. senator josh hawley has introduced what's called the pelosi act. this is all about stopping members of congress from saiding stocks. -- trading stocks. is he also ache thing a jab at former speaker pelosi? lauren: yeah. prevents elected leaders from if

owning securities, if that's what it is. members of congress and their spouse ifs shouldn't be using their position to get rich in the stock market. i'm introduced legislation to ban stock trade rahing by members. i call it the pelosi act because her husband, paul, made big money on stock the trades while in office. they're not the only ones, but that did cause uproar on capitol hill. even nancy pelosi herself became open to this idea of sock-trading reform for lawmakers, but a vote on legislation never actually happened. so there is bipartisan support, but there's disagreement on how encompassing this should be. so this is hawley's legislation, members and their spouses would divest any holdings or put them in a blind trust because lawmakers are workers and they do have to save for their retirement. stuart: so they can informs, but they -- invest, but they can't

trade, and they've got an investment account -- lauren: six months before taking office. and i don't know anything about staffers being impacted here because some of these bills impact their staff too. stuart: what do you think, david? >> i think outrageous that this hasn't already been done. and speaker pelosi saying she's open to discussing it now, but she was vehement wily against it before and actually dared to say, come on, i thought we believe in the free market, which i thought was rich from if her. but there are vehicles that make it unnecessary for them to own individual stocks. and if there's no nefarious activity, just the mere appearance of impropriety undermines market,s -- markets, undermines faith many government. -- in government. stuart: let's see if hawley's bill makes it through. it might. david, lauren, thank you. check futures, please. it's wednesday morning. we're coming off a nice rally yesterday, and we're down today, down 2 the 80 on the dow, nearly 200 on the nasdaq.

coming up, the white house refuses to answer any questions over the documents scandal. watch this. >> i would refer you to the white house counsel's office. again, i would refer you to the white house counsel's office. i'm not going to comment from here on that. stuart: you know, if the white house thinks the media will let up on, they're wrong. there's more of this to come. the u.s. is sending abrams tanks to ukraine, germany is sending leopard tanks too. will this be a turning point in the warsome good question, and we'll answer it next. ♪ ♪ ♪ [coughing] hi, susan. honey. yeah. i respect that. but that cough looks pretty bad. try this robitussin honey. the real honey you love,

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♪ stuart: the announcement came morning, the united states and germany will both be sending tankings to ukraine.

if alex hogan is with us in kyiv. alex, do we know when the tanks will get to ukraine? there's some talk of a delay here. >> reporter: hi, stuart. according to germany's defense minister, it will take several months for these tanks to get to ukraine and to be the fully operational, but all of this does pave the way for other countries potentially looking to send in their german military here to kyiv. berlin announcing today that with move it will also be signing permits allowing other countries like poland and spain to potentially send in their tanks. altogether the, goal of this is to be able to send in who battalions or 88 tankings. berlin would also supply ammunition and plan logistics. moscow argues this is just a pointless provocation. the u.s. is poised to announce its own decision on sending abrams tanks, but russia is warning washington that if it were to send in american tanks to ukraine, they would, quote, burn. russian forces today are also

doubling down in the brutal battle out east. ukrainian forces today are pulling out of soledar in effort to save more lives of their troops. and and ukrainian soldiers will soon start training on these tanks in germany. polls show that germans are really split on this decision. the german defense min stir saying that does not mean that the country will have a play and a hand in this war, it's simply supplying defense equipment, schultz asking his citizens to trust this is right and safe decision and that once again this does not mean that germany is stepping further into this conflict. stuart? stuart: all right, alex, thank you very much, indeed. david sears is a retired navy seal commander and joins me now. david, will these tanks let the ukrainians win, and by winning, i mean push the russians out? >> no. they're not going to be able to push the russians out with these

tanks. that's -- if we consider pushing them out of crimea, out of eastern ukraine they've fought over for the last 12, 14 years and longer in reality, this will not allow them to push them out. it may allow them to get to a stalemate a little bit quicker in the current situation. stuart: why the slow walk? we've just heard a report that it might be months, even a year before abrams tanks actually alive on the battlefield. why this slow walk? are we afraid of putin's response? >> there's two factors in what appears to be the slow walk. one, it's going to take months and months and months to train the up tank crews and maintenance and logistics behind that to use these tanks. they're totally different systems than what the ukrainians are used to operating. they're way more sophisticated. like, one of our tank mechanics goes to a six month school just to learn how to fix the tank. tanks need a lot of maintenance. so you have that whole issue.

you don't want to put tanks out there without trained crews behind them, or they become sitting ducks. two, i think that there is a piece that nato, germany, the rest of europe, the u.s. doesn't want to keep upping the an, e in an offensive manner where they get sucked into a direct war with russia. stuart: worried about putin's response. david, thanks very much for joining us. you know what you're talking about, which is always a welcome change. good to see you. >> thanks, stuart. stuart: defense stocks, raytheon, lockheed -- lockheed's down today to. they've got to be benefiting from the war, don't they? lauren: absolutely. lockheed and raytheon are seeing record orders for weapons. the u.s. is spending $27 billion on military equipment just many ukraine. of course, they don't get all that, but that's a huge budget. and china, too, expanding their own military. but what's happening here, you're still dealing with the

supply chain and the pandemic disruptions. so these huge orders are overwhelming their ability to deliver because of those supply chain problems. raytheon says it's going to be at least the end of year before they can get back to their production levels of 2019. orders were not as big then. lockheed makes the f-35 fighter jet, the rocket haunchers -- launchers. general dynamics makes the m1 abrams tank, that stock is up the northeast right now, 1.3% -- most right now. this backlog worth $91 billion. stuart: david, you've been investing in lockheed, pays a strong dividend, and you've done well with it, haven't you? >> very well. in fact, yesterday it was the up $8. their earnings came out yesterday. and lockheed is up about $100 a share, over 30%, since the ukraine war began. but it's up another 50 or 100 on top of that from even before the war. this is not just about ukraine. there's a growing understanding

that whether it be a future conflict with china, instability in europe, that there is a need to fortify anded modernize defense capability, and lockheed is a great company. their customer being the u.s. government, i think it's a good investment. stuart: you buying any more? >> yeah, we are. stuart: okay. why is president zelenskyy removing some of his top add visors, lauren? lauren: nearly a dozen that are considered taintedded because he wants to portray this clean image to the world, signal to the west who thinks his effort in ukraine is admirable that his administration is as well. so we're giving him billions in support money, we should be able to trust that money is being well spent. past ukrainian regimes, obviously, known for corruption and lavish spending. stuart: got it. thanks, lauren. take a look at futures again, please. we're on the downside this wednesday morning, off 285, merely 300 points for the -- nearly 300 points for the dow. there is the some selling today. we'll take you to wall street percent opening bell next.

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opening bell on wednesday morn, and we are going to be the opening lore, down maybe 300 on the dow, certainly 200 on the nasdaq. that's a lot of selling going on. david tremendous due sky is with me. microsoft just reported late yesterday. first of all, the stock is now down 3.33%, $8 lower. what's your judgment of the microsoft reportsome. >> -- report? >> well, great to be with you here this morning, stuart. you know, microsoft held up pretty well yesterday at least on the initial blush of some of the news. i was excited to hear that, you know, they at least beat the earnings expectations by 2%. of course, we saw sales down for the lowest it's been in about 6 years on a quarterly basis, and is so that's not great news. but, you know, i'm not a day trader, so we fundamentally have been able to review microsoft as an organization and determine that if you've got a longer trajectory and timeline, there's a great opportunity here. some of these a.i. integrations

and some of these, you know, things that they're doing in cloud space as people are working from home are incredibly important to the economy that it seems like we're ultimately heading into. stuart: well, will the microsoft report put a chill on the overall market? i mean, on the other big tech socks? it seems to be doing exactly that. >> it seems to be doing exactly that, but i would say how it held up yesterday seemed at least a little more positive to me given that, you know, earnings have been big question mark as we headed into 2023. have earnings expectations been too high. so, certainly, things are cooling off here today and, you know, we've got more optimistic times and more pessimistic times. in the happens to be seemingly one of the more optimistic times in compare comparison to june and september, but we're going to see where jerome powell goes in the next week, and i guess we'll get some more guidance. stuart: dade, thanks for being

with us, appreciate it. david bahnsen sitting next to me. i was watching the 4:00 report, and i just loved it when the stock went straight up just on the raw numbers. but then came the call and it just plunged. is it like that all the time? >> it happens, but you've got to remember it's trading 27 times earnings. stuart: that's high. >> it isn't like it's cheap x. his point about, well, people are working from home. that number's coming down, not up. so that's downward pressure on forward growth if they're dependent on this work from home mentality. stuart: you're seriously beginning to make me think about selling it. >> i tried that a year ago, it didn't work. stuart: i wish it had. you would have saved me a fortune. you made me a fortune on blackrock -- blackstone, but you didn't make me any money on one. there you are, the market is now open, and we're opening down bigtime the, by the looks of it. dow off 195, 280 points, nearly 300 points, .9%.

i see a couple of winners, amgen, travelers, mcdonald's, cisco, etc., etc. four winners now, that's all you've got. and the dow is down 277. s&p 500 opening lower as well. we are off there the by a tune of just over 1%. quite a drop. and the nasdaq composite, that's what i want to see, down 1.6%: that is a significant loss. show me big tech. most of them are going to be down, they're all down. meta, a apple, alpha bet, microsoft, amazon, they are -- look at amazon, down 3.5%. we're going to get into that in a moment. now, some companies reported before the bell this morning. one big guy, big, important company, that would be boeing. not doing well, susan. susan: you had a surprise loss here for america's biggest plane maker, disappointing labor, supply chain hurting production and deliveries. sales did go up on higher airplane orders, and they won over 775 new orders last year. that the includes a pretty strong december, but they really

need to get production back up to more than 30-40 aircraft that they're making each and every month. deliveries really matter. stuart: and it's a dow stock to. it's taking the dow down a few points because of that. susan: yeah. stuart: okay. at&t the, what's the story? susan: more subscribers here, 656,000 new phone sign-ups which was a pretty impressive, much better than anticipated. but they are forecasting that profit will be below estimates. they are still on rack, if you listen to the ceo on the earnings call, they're still the on track to save $6 billion in cost reductions this year. so it's not growth which is not great for the stock, but at least queue getting a cost reduction, cost cutting. stuart: despite the birth of my 11th grand child, and requiring diapers, of course, kimberly-clark not doing well. susan: i call it the kleenex maker. profit actually came out ahead, sales were a bit short, so they need to get more diapers bought, i guess. stuart look, we've got to talk

tesla. they report afternoon, and i want to make something clear, are they expanding their plant in nevada or building a whole new plant? susan: so it's an expansion, but it'll be two buildings. so this is the original giga factory back in 014, plowing $6.3 billion more into in the original gigafactory, and they're expanding the build up a tesla semi, that electric truck that was a few years late but finally delivered to pepsico, its first customer, last month. tesla will hire 3,000 more folks there in nevada, but that's after cutting 10% of their global staff last year because of that super bad feeling that elon musk had about the global economy last year, remember that? tesla does report after the bell. record deliveries last year, 1.4 million, they're expecting record profits of 3.8 billion, but i think the concern will be cash burn since they are spending more money in nevada. they're expanding in texas,

austin, and bear lib. what about that $5-10 billion stock buyback you heard from elon musk last year? stuart: i was just amazed at the size of that factory this many nevada. just guy begannic. susan: that's why it's 3.6 billion that you're putting in to expand. now, or i'm curious as to whether or not elon musk is going to get if on that earnings call later on today, and will he be asked about the 65% drop in the stock price? lost about $600 billion in value, how are you going to get the stock price back upsome. stuart: you never know. i've got to talk the cloud business. we've got a couple of names not doing well, and i presume that's because of microsoft. susan: kind of like you, watching that 4 p.m. report card, you're enthused at 4 p.m. when microsoft shot up 3% in the afterhours, and you saw that with know flake -- snowflake, alphabet. there was this relief that azure is still growing at 30%, that's pretty good, but then, of course, that guidance was pretty

weak since they do talk about decelebration -- desell ration for azure this quarter. you've got the snowflakes, i don't know why palo alto is in there, but cybersecurity is really across the board today that you're seeing the tech kind of weakness. stuart: it's the microsoft effect. susan: amazon is down about 2%, it might be down because of the weakness or deceleration forecast for microsoft's azure because you know aws is by far the largest cloud provider in america, right? they have about 40-50% market share. bernstein cutting amazon's price target to 120 this morning, but here's curiosity i have. look at shopify, number who two in e-commerce, up -- number two in e-commerce, one of those stocks affected by that new york stock exchange error at the market open yesterday. there might be some different pricing happening, but if you want a countertrade, you sell

amazon, buy shopify this morning. stuart: that would be a good trade. fox corporation, that's our parent company. somebody's bullish on them? susan: yeah, so the merger is off that was announced last night, not optimal time according to the press release. and also you had objections from three investors. the stock is worth $40 according to them, but news corp. flipped the page on the newspapers front jumping 25% since those talks were announced back in october. it ises also there's news that news corp. could be in talks to sell its stake in move, online real estate company, $3 billion possibly. if you think about it, that's a great price tag given that rupert murdoch bought the whole dow jones and "wall street journal" for $5 billion back in the day. stuart if he gets 3 billion for a piece of it, not bad. susan, thank you very much, indeed. david, still next to me, sitting there all through the hour. you bought -- you're the

dividend guy. you look at stocks which pay a large and growing dividend. the first one you brought today is ibm. they report this afternoon, are they still paying 4-5%? >> it's about 4.7%, and heavy grown it every year -- they've grown it every year for about 10 years. so it's been a wonderful dividend payer. he was a great business. stuart: what's with verizon? >> verizon reported yesterday and was up, and they've had a lot of struggles. they've had to spend a ton of money to get 5g up and running, and they're taken on debt, but what they didn't do was cut narrative tend. a, the is and, the the's down 50% because they decided to go get into the content the business. verizon stuck to what they're doing, but wireless growth last year had come down. this quarter they reported growth in wireless subscribers. that's what you've got to see. stuart: got it. david, thank you very much, indeed. coming up, an analyst at msnbc calls out florida's governor desantis for being, quote,

authoritarian all because he proposed schools take away phones during can class. rachel campos duffy has nine children, and i wonder if she agrees with that. rachel will be here. when it comes to the taylor swift ticket fiasco, lawmakers just can't seem to, quote, shake it off. >> ode to taylor swift, i will say we know all too well. >> may i suggest respectfully that ticketmaster ought to look in the mirror and say i'm the problem. it's me. [laughter] stuart: okay. it was the actually a fairly fiery hearing. political theater for the outraged swifties hawaii's way i define it. more on that next. ♪ ♪ now you're mine ♪

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stuart: it's an opening bell selloff, that's what we have. down 227 on the dow, down 169 on the nasdaq as we speak.

mayor of miami, he's really fired up about what biden's doing with the border. the mayor is francis suarez, and his honor joins me now. your honor, look, i read your stuff, you know that. and you say part of the problem with migrants and and the rise of -- is the rise of socialism. spell that out for us. >> thank you for having me on such an important topic. i think we, the united states has ignored the rise of socialism for decades many our hemisphere. you know, cuba exports, its number one export is its ideology. and what we've seen them do throughout the last 50 years or 60 years since castro's been in power is spread this ideology to venezuela, nicaragua, and now we're starting to see other countries in south america go left of center and, or hopefully, not mt. direction of socialism. but you have situations in argentina, many chile -- in chile, recently with the

election in brazil, many colombia. peru is up in the air. so, you know, you have a massive shift which creates a tremendous amount of poverty in the region which creates immigration pressure. so no one is arctic thelating the fact -- articulating the fact that increasing socialism in our hemisphere is driving poverty which is driving immigration. stuart: but you can't do much about it. socialism overseas, you can't do much about that, can you? you can just stop socialism here, if you can. >> with well, i think you immediate to do both. i think the way you can do it is articulating a strategy of depowering china. we have a tremendous amount of our supply chain in china including our microchips you said 80% of which are --, 80% of which are produced in taiwan. trying to create more prosper i in our hemisphere which shores up our supply chain and, hopefully, we're going to decrease the incentive for people in this hemisphere to want to come to the united

states. they're coming to the united states because they're in search for what every human being on planet wants, prosperity for themselves and hair children, for their tomorrows to be better than their yesterdays. that's what everybody in the world wants, and everybody finds it here in the u.s. imagine what it would take for you in your life to sacrifice everything, even your life, to get in, for example, a makeshift water craft in cuba without any if propulsion or motor and risk 90 miles just to get to the united states of america. i mean,s such a dramatic decision that someone has to make in they're their life. i think sometimes we underappreciate what we have in our country. stuart: you're going on the a 10-city tour fighting crime. how do you propose to night crime, and what have you done -- fight crime and what have you done with crime in miami? >> welk crime, whenever you poll crime, it's always the number one or number two issues on people's minds. you can't feel safe, then it's really, really difficult to be the happy, to be productive, to take care of your children. so what we've done in miami and

part of our meme miracle story is we increased funding for police. we never got into the no cash bail nonsense that we saw across other cities in america. we reduced taxes. people say, what does reducing taxes have to do with crime? well, if taxes are low, you have investment in your city. we grew by 12%. we have a 1.4% unemployment. we're number one in the nation in wage growth. so when people are working, when people are happy and healthy which we were ranked number one in the nation for happiness and healthiness, when people are -- when there are more police officer, when you put that all together the, that is a formula for success. we want to the evangelize that throughout the country. we want to look at the city that are doing well and stokes if on the city -- and focus on the cities hard not doing well. stuart: how's that, the crypto business, going for miami? i remember you had a miami coin? since then we've got ftx, all kinds of turmoil in the crypto market. how are you doing with it? >> well, look, you know, you and

i have talked about this many times in the past -- stuart: and i've never understood it. [laughter] >> and i've tried. i've tried. look, i think there's three things. number one, we focused on it as an ecosystem builder. we're number one in the nation right now in box cain -- blockchain investments with over 800 million invested in blockchain companies. this is a technology that's going to drive innovation for a generation. things like bitcoin, you know, if you look at the history of bitcoin, it's like a lightning bolt, it's the up and down. year it's up almost 40% which is good for me, because i'm taking my salary in bitcoin. and when you look at, you know, sort of blockchain and bitcoin invest investment mt. context the, for example, of the '98 internet bubble burst, right? you look at companies like napster and netscape which obviously never made it, we don't doubt the utility of, you know, of apple and their

streaming service. we don't doubt the utility of google, right? these are the second generations of those technologies which revolutionized the world. stuart: okay. good luck with taking your salary many bitcoin, even though it's up year. your honor, always a pleasure to have you on the show. >> thanks, stuart. always good to be with you. thanks. stuart: coming up, speaker mccarthy has removed congressmen schiff and swalwell from the intel committee. mccarthy the also removed ilhan omar from the foreign affairs committee. i say this is a bold but welcome action. that is the theme of my take coming up at top of the 10:00 hour. new york's boat show kickeds off -- can kicks off today. sales boomed at the beginning of the pandemic. we're heading to the boat show. does the sale momentum continue? we'll be back. ♪ ♪ yeah, i need a boat ♪

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stuart: boat sales took off during the pandemic. there was a chance when -- time when you couldn't get your hands on a boat if you tried thed. madison alworth, question: has the sales momentum kept up since the pandemic? >> reporter: stuart, we have seen a bit of a slowdown from

last year. so take a look, power boat sales down around 18% from 2021-2032. but here's the thing, and you said it in the intro, when you look at boats like this during the pandemic these things were flying off the shelves or off the lot, whatever you do with a boat of this size. both 2020, 202 21, record years for sales. now we're seeing a slowdown because interest rates are up. most boat owners, surprisingly, they make under $100,000 a year. diesel prices have been all over. most boat owners, they take that into consideration. the really big thing was the supply chain, right? we've talked about so much how chip shortages have really been an issue. the boat that i'm standing on here, which is between $700,000-1.7 million for one engine it would take at least 100 chips, and that's just the engine itself. but because the chip issue and supply chain has really leveled out, boat industry, they're really hopeful about sales this

year. >> we're pretty bullish in terms of our continued momentum as an industry sector. one, because you've got 100 million consumers who are interested in going boating each and every year are can -- year. we had a million more mt. last several years as first-time boat buyers, and we're seeing continued interest and miuation to quality. >> reporter: one thing i asked a lot about was are you concerned about job cuts and recession. but you kind of mentioned for so long people couldn't get their hands on a boat like this. this is the, obviously, the upper end of the spectrum, up to $1.7 million. the pact that it essentially has a full kitchen, so folks who can afford a boat like this are probably still waiting if they put their order in a couple months or even a year ago. so inventory finally getting back up to demand, and demand is still there. you know, especially if we see layoffs remain within the tech the sector the, that's hopeful. and they just said this is beginning of boat show season.

minneapolis is where they were before this, and they saw 17% more attendees at that boat show than last year. so the boat industry's still looking really hopeful. i'm hopeful that one day i can afford this. not yet in my budget, but, stuart, if you want me to add you to the list, i got you. stuart: you can bet your life if i was in the boat business, i'd be bullish about the future ooh the, guaranteed. thanks very much, indeed, madison. see you later. hey, david, you live in newport beach. that's on the seashore, as i recall. you got a boat? >> on the pacific ocean, newport harbor, one of the most beautiful places to dock a boat in the world. i i don't think the issue is the money, interest rate or not getting appliances delivered, i think it's time. markets never sleep. i'm doing too much with markets to be out on a boat -- stuart: you're too busy? >> to own a boat, yes. stuart: do you golf? >> i'm a member of two clubs and haven't played in three years. no question where my loyalties

lie. stuart: you're working your life away. >> i love doing what i do. stuart: how many hours a day do you work? >> i work about 16 hours a day, but i will say this, it's funny, i have a book coming out about work and the meaning of life. stuart: that was a very good program -- >> and you didn't know that. stuart: that's very true. david, i want to thank you very much for joining us for the hour. >> appreciate it. stuart: check the markets real fast. we've got 25 minutes' worth of business under our belt. dow's down 260, nasdaq's down over 200. still ahead, the great senator from indiana, mike braun, is going to join us. rachel campos i duffy with nine children, she will join us. marsha maccallum of fox news, she'll be with us s and chad wolf too. the 10:00 hour of "varney" is next. ♪ ♪

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♪ ♪ every little thing that you say or do ♪ stuart: why not play a little madonna. hung up, as we look at fox news