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>> chair powell said they're taking rates up to 5.1. by his own admission, we're almost done. we can stop at 4.1 or whatever is because inflation is coming down. >> i think we get 25-basis points this week. i think the market will initially rally on that news, but whether or not that rally lasts will be determined on jerome powell's language. >> we're at 6.5% right now and we'll continue to raise rates till we start seeing that unemployment -- the cpi get down to that 2% level. >> a to negotiate and b a common sense deal then the white house will be plague. blame.

stuart: good morning, everyone. i remember this, chubby checker. that was the early 1960s and he introduced this dance called the twist. i was the right age for doing that. lauren: was it graphic at the time to do the twist? stuart: oh, absolutely. lauren: parents didn't like it? stuart: ready, steady go and the twist came on board. >> twist your shoes on or off? stuart: on. lauren: make it is a little harder. i used to get a cramp doing the twist at parties and we would have competitions who could do it the most and i would always cramp up. on my left side. stuart: still young of course. it's 11:00, dear lord, get me out of this, >> commercial. stuart: commercial. it's january the 31st. look at nasdaq go. not bad and had a fantastic january and till this morning nasdaq up 8% this month and now up 9% if it closes like that.

the 10-year treasury-year-old around 353. now this. if i were to go out on the streets of new york and ask people what is the biggest concern, i'd expect to hear a lot about crime and immigration. new yorkers frequently see migrants wandering the streets and sleeping in the subways. local news is ja jammed with vio of latest outrage and racism and homelessness to be major concerns as well and aren't they the issues that dominate our lives? apparently not. gallop asked the question, what do you think is the most important problem facing the nation? top of the list? government and poor leadership. that was a surprise to me given the other problems, which are part of our lives. inflation came in second. okay, that's understandable but look furred down the list. race relations and racism, only one in 20 thought it the most important problem. poverty, homelessness, say them again only 5%.

crime was actually ranked even lower. this is bad news for the biden harris team that race, crime, and homelessness has turned against government and government has done very little to fix it. democrats and republicans see leadership and government as the biggest problem. one last point. i drive into new york city very early. this morning around 3:30, i saw a de-drag eled exhausted family wandering the streets. my hearts went out to them but angered by the administration that created this problem in the first place. the president is in the city today and won't go anywhere near the migrant crisis that he has created. third hour of varney starts right now.

stuart: will cain joining us this tuesday morning. why is government and poor leadership at the top of the list of problems? >> because i think it's a catch all, stuart. you can look at all the problems underneath and attribute them vastly, mostly to a failure of leadership. when you see so many different problems scattered among the american populous concern and very little addressed and in truth, in created by our leadership, you indict leadership. we have leadership for the vast majority, stuart, that seems to be -- it's a special kind of inken polcari and not the incompetence that's ignorant of the actions and kind of incompetence that excuses the outcome of its actions because of some sort of theater cal goal on the line the theory and critical race theory and theories on the economy and ignorant of practical real world implications.

stuart: got it. will, basketball star steph curry reportedly pushing back on plans to build a low income housing development near his $30 million mansion. he and his wife are concerned about safety and privacy for the family in their wealthy neighborhood outside san francisco. steph curry, extremely high profile democrat and endorsed biden for president and spoken out about social injustice and can't support low income housing when it's a personal problem for him. what's your judgment of this? >> yes, this is an illustration of what we were just talking about. it's easy. the pain threshold for steph curry to appreciate or endorse something that only exists in theory is easy but when it's practical, when it's real, and affects his life, then all the sudden that high mindedness evaporates. it's no different than anyone else. i mean, anymore by is arrive and well, i want to help the homeless and drug crisis but not

next door. you want it far away and removed to signal your virtual. when we do this polling or even for that matter voting. think about the pain threshold of acquiring someone's opinion. a poll, that's pretty easy. what has it done? over the phone. even voting, at most these days it's go to the ballot box, maybe now it's done by mail. to me the ultimate revelation of someone's opinion on where they stand is this pain threshold. i'm going to rent a ewe haul and load up my entire house and load up my kids and move thousands of miles away. that's the ultimate poll. back to leadership, where are people voting with their feet. they're moving, they're literally ripping their lives up and replanting them in places like texas and florida.

good luck, will. dow is up 80 points and look at nasdaq go 116 and mike murphy with me for the hour. will january's momentum continue, especially with the nasdaq up 8, 9% in the month? >> it will. stuart: that's a categorical statement from the start, will. >> it will, and is, stuart. what i'm saying is that the markets are telling you they've put in a bottom, the fed is a -- in the rear-view mirror and coming close to this end of the rate tightening cycle so now you're looking at earnings and the focus is on earnings and talk about big tech. look at amazon. amazon had a terrible 2022. that's behind us. year to date, amazon up 22% and netflix 20% and apple we'll hear earnings from this week and big tech is going to lead us. that's the growth story, stick

with it. stuart: the bottom line is you think that the lows are already in, they're done with. not going back there? >> yes, that's what i believe. now, if there's crazy external event we could come back down and test them, but i think the market has taken a major punch from the fed, from -- if this as rates went up so much and we overcame it. now we're here. stuart: maybe investors think no more real big punch to come from the fed 25-nothing. >> at the end of the day, we'll look at earning ands get past those events and now our large corporations we're putting our money intorsion are they doing more with that -- into, are they doing more and delivering better results and earnings on the bottom line? the answer will be yes. stuart: i'm very much looking forward to apping, i want to know where they're going. >> i agree. agree. stuart: i would like to be on the call. i don't know how but susan will be there. mike, stay with me for the hour.

lauren is back and looking at movers. look at that, general motors up 7%. lauren: their earnings were a smash hit and lithium america up 13% and they have a deal, gm is investing $650 in lithium americas to develop a mine in nevada which is the largest known source of lithium in the country. why? protect margins and bring down the cost of the biggest part of ev, which is the battery, by investing to make them here. get all l resource in the u.s.. stuart: i was watching general motors and they say they're going to beat tesla in electric vehicle sales by 2025. that's ambitious, isn't it? >> it is and it's funny how tesla is now the leader, the big boy, and gm's coming after them. let them come after them. i think the shift is in that we're going to see a push into electric vehicles continue. there's money to be made for these companies there and what's most surprising to me, stuart, not too long ago we were talking

about younger people not buying cars and they're going to take ubers everywhere and car sales in the u.s. are going to be down. well, apparently not so much so people still want to high end. stuart: the stock is up 1.5. mcdonalds, is way down this morning. when it came out before the open, the stock was up and it was a great report card, so i thought. sames were sales in the u.s. and grew double digits and people are trading down because of inflation. used to go out to eat at a nice restaurant and now eating more fast food, probably. for mcdonalds, their traffic increased and jot president

poses inside to promote the new ev tax credit and costs close to $100,000 and much more than the average salary. am i wrong to call that tone deaf? what did you decide? new york wants to move migrants out of hotel rooms and specialized shelters and migrants don't want to go. they're protesting to keep their free luxury conversation, we're on it. the view cohost wh whoopie goldg makes a shocking claim about police violence. roll it. >> i'm not suggesting that. stuart: dr. king of martin luther king jr. will be here to respond. she's next. ♪

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stuart: the death of tyre nichols has renewed focus on police reform and the issues that big police departments face. one of the biggest departments is recruitment is down. >> stuart, probably won't come as a surprise to you but experts tell us part of it is because of the negative rhetoric about police coming from politicians as departments struggle to recruit resignations increased almost 43% from 2019 to 2021. retirements are up nearly 24% in the same years. several major cities are dealing with major staffing shortages as

a result and san francisco there's more than 250 open officer positions. some departments like seattle are offering seep on bonuses -- sign on bonuses of tens of thousands of dollars. police officers don't like to to want be with defund the police climate and no one is applying. no one's interested and they might be scraping the barrel getting candidates. >> that's getting departments to lower certain standards for officers getting college degrees or not having to have college degrees with congress picking up the debate and stalled for the last year and on police reform in the country. stuart: grady trimble, got it. thank you. the view cohost whoopie goldberg post add really shocking

question talking about police reform. roll that tape, please. >> do we need to see white people also get beaten before anybody will do anything? i'm not suggesting that so don't write us ask&tell me what a racist i am. i'm just asking is that what people have to see in order to wake up and realize this affects us all. stuart: alvita king joins us, the niece of martin luther king. what do you make of whoopie's hypothetical question? >> it doesn't make any sense because people are outraged across the nation, around the world, we have been stunned by this most recent incident. we can't tribute this to racism and skin color because the man who was arrested is black. the man who did everything. watching that one you can see that and it's terrible and absolutely terrible. whoopie is a little incoherent

sometimes. stuart: okay. i'm going to quote martin luther king "we can walk the high road of brotherhood or the low road of inhumanity to man". i think that's something you'd quote frequently. >> i do quote that. we're one blood, one human race and we've had that conversation before. there is racism in america, of course we know that is true. we cannot take that race threat, that race card i call it every time something happens, this man has lost his life regardless as to why he was brutally died as a result. this was done by people who have the same color skin that he has. man's inhumanity to man and martin luther king jr., my uncle talked about that. we don't see people anymore. we see threats, we see fear, we see anger and then we try to justify our actions without

seeing each other and embracing each other as one blood. the human race. this has to stop, stuart, it's terrible. stuart: another quote if i may from martin luther king jr., we must learn to live and not kill each other. we must live together as brothers or parish together as fools. very appropriate. >> we must learn not to kill each other and this is just violence begets violence. you've heard me say from the woman to the tomb and beyond and seeing human beings and treating each other and i have said the law enforcement across the board needs to be retrying to ask questions later and that's a military thought and every day situations we need to deescalate. we can de-especially la indicate and -- deescalate and that's the same thing from the person being apprehended and we need to train

our daughters and sons no the to run, not to act guilty of something like that, raise your hands and say look, i'm not a threat, i don't have a weapon, i'm not about to do anything. we need to do that as well. what do you see when you can beat a person to death like an animal. stuart: well said. alveda, always a pleasure and thank you for being with us on "varney & co." so frequently. >> thank you, stuart. stuart: the head of the tech company pager duty, he's apologizing for quoting martin luther king jr. in her layoff announcement. ashley. what did she say ashley: yeah, she wrote a 1700 word e-mail announcing she was going to cut 7% of the work force but it's the end of that announcement and

it's sparking them to say the least and new low bar for layoff announcement and she said the moment reminded her of martin luther king jr.'s quote that the ultimate measure of a leader is not where they stand in the moments of comfort and convenience but where they stand in times of challenge and controversy. well, on social media, observers called the e-mail tone deaf and frankly disgusting. she responded apologizing for what she said was being inappropriate and insensitive and succeeding she souled have been more thoughtful and con side. stu. stuart: ashley, thank you. bank of america said big tech companies are still too big even after their recent layoffs. strategists or some of them at least suggest that some companies should get another 20% of their staff. mike murphy, is this still too

bloated. companies are on the basis and the both we're seeing 18 months ago was going to continue indefinitely and now you see that it doesn't. i think that's the normal cycle of business. they overhire to keep up with what was perceived to be demand in the future and there's been a slow down in that growth. stuart: interested to see app and will it's the one big tech company and not laying off anybody and for the afternoon and about layoffs in the future. >> it'll be interesting because as the ceos and times know they'll come out with the quarter and they're good in line and he get as free pass here to talk about inflation pressures to talk about what could go wrong in the future.

what's the tone about? interesting. stuart: thank you, mike. back to the markets overall. we see green, dow industrials up this moment, 84 and nasdaq up 111 and that's 1%. congresswoman claudia tenny demanding answers from the administration and she's next. we told you about high schools in virginia withholding merit awards in the name of equity and could be the civil rights violation. that's next. ♪

stuart: down it florida, it's 71 degrees. how cool it is. last day of january. on the markets i see green. not a whole bunch of it and

modest round and movers back with spotify. >> listen to beatles log as well. susan: i never heard that song before. stuart: you never heard that song before? susan: let me finish. because of you, it's in my music catalog and congratulations to returning me for 50 years ago and spotify is guiding for half a billion monthly users bit end of march. 500 million users by the end of this quarter. paying subs 207 million and that's pretty conservative that they finish and 205 million and they added 30 million holiday quarter that was a third more than they expected and why in last year and a billion dollars

to joe rogan and megha meghan me for the podcasts and the jobs had to cut. stuart: signed up 30 million new subs. susan: in the final three months of last year, 10 million more than expected. stuart: getting to the super bowl and the draft kings and heading into the single biggest sports betting events for the super bowl and a lot of tv operators want to offer sports betting and fox core and we know that fox will be showing the super bowl in just a few week's time and nbc extending the television watching the game and ad revenue and the people watching the game can go on your sports betting site and place money. stuart: that's interesting.

susan: isn't it? i thought it was pretty interesting. come on, murph. >> it's interesting until said person loses their money and it's an issue with all the online gambling and online gambling and sets off my spy i did se senses and everyone elses to jump what they're doing and in particular space and it's too crowded. susan: you don't own any sin stocks? or a device you're not interested in betting in. they want to make money there. i don't see a opportunity and i don't know how the companies become profitable and i think there's too much other companies jumping into the space. susan: the cable operator and that's -- operator and unlock your revenue. susan: eagles are my favorites right now and talk about electric general motors up.

much better results and guidance from gm and then you had tesla announcing $200 million loss despite the bitcoin holdings and they're off 64 million bitcoins into cash and trip toe had the best month in two years and by the way lucid had the best month in two years and 45% on friday and on rumors that the saudi public investment fund was going to buy the other 35% of the company that it doesn't already own and this stock is up almost 40% for the month. stuart: susan, good stuff. thank you very much indeed. update on the story we've been following and virginia high school's withholding merit awards in the name of equity. peter is on that civil rights commission and joins me now. peter. does withholding a academic award violate a student's civil rights and if so, how? >> absolutely.

it can have impact on certain protective classes meaning certain racial groups and protective classes and this particular case appeared at some schools in fairfax county and the plan was withholding student communication for the plan notification and the goals and asian american students and white students and what's happened in the past and this one steamed have a pattern to it. not only is it difficult for any student. it makes it into the elite schools and more already to be discriminating against asian americans to lesser extent and white americans and in fact

that's the subject of the current piece before the supreme court will just have students with fair admissions and harvard allege that asian americans have been discriminated against in admissions and, look, extent of evidence shows that asian american is 10 times less likely admitted over this situation over black or hispanic comparative and at some schools up to 400 times likely to be admitted. >> i'm sorry, susan: i find -- stuart: i'm sorry, sir, i find that outrageous. chip roy was on this program and his effort to defund schools with critical race theory. roll the tape. >> american people don't want this stuff taught in the schools dividing by race and teaching us the marxist every day. why are we borrowing more money

to go meddle -- stuart: is teaching crt a violation of civil rights. >> the violation of civil rights and decency and imaginable and they can't discern between real history and critical race theory and an adomination and it's for time and how does teaching equity. >> there's no such thing of equal outcomes and talents and abilities that nature or god gave to us and the artificial enhancing their turns and achievements and at its contrast of judging somebody for the

content of their character versus the color of their skin and needs to be stopped and more. stuart: peter, any time you want to come back, there's a seat for you at the table. >> thank you very much. stuart: much obliged. thank you very much. the new hbo cartoon velma slammed by viewers for being too woke and not woke enough. ashley, you got to come back in and explain it all to me. go. ashley: well, that's not easy to do frankly. both the rights and left are piling in on the hbo max's new woke cookie-doo velma. in the most recent episode, velma, who's a lesbian of south asian decent does it on a strip pole for her father, how wonderful and being criticized for the violence, gore and nudity. audience reviews on imdb's

websiteplasting the show for being unfunny, offensive and insult to fans of original tv series and by the way, this isn't the first cookie-doo series to nadhim >> my grain cat comprehend all this. i'll leave it there. stuart: you should, ashley. thank you. see you later. stuart: a woman in canada is making a name for herself in the aisles of c costco. she's creating wildly popular tiktok videos with millions of views showing free samples in the store. not a bad i canning. the president just landed in new york and here to push infrastructure plan but will he address the migrant crisis in the city, all of that plus congresswoman claudia tenny

next. ♪

stuart: the president touched down in new york and stouting $290 million instrategies truckture plan with that tunnel that links new york and new jersey and the city. many migrants are refusing to leave the hotels where they've been living and they're out wondering the streets of new york and the president will not see them. congresswoman claudia tenny, republican from up state new york is the president deliberately not seeing the problem that i think he created?

>> of course not and mayor adams said it's costing $2 billion to handle the illegal immigrants shipped from the southern border into new york city. we don't even know what's going on with the northern border, which is why i wrote a let tore biden asking for a transparent accounting of who's being shipped, where are they going, what cities are they in? up state cities and west chester a few years ago continuing to have an inflow and 35 immigrants were spotted in way up state new york in james town and the very northwest corner of new york state.

i'd like to see the president check this out and deport the people we need to deport that aren't true asylum seekers. stuart: congresswoman, some up state new york towns are overwhelmed with migrants and don't know how they got there and don't have the resources to deal with them. is that overstating the case or what? >> it's not overstating them and we can't account for where they are and hearing about bus loads of people coming in and out and understand i'm coming from a district in up state new york and it's a very heavy farming community and there's a lot of legal visa holders that are out -- here to work on some of the farms. but we also don't know about the numerous people people in up state new york and no idea who they are and whose paying for it and in the end the social services budget of the local county and remember if they pick up medicaid, new york state is one of the only if not the only state left that gives the

medicaid share and requires the local taxpayer to pay it. each one of the local counties and taxpayers get ago hit on property tax bill and all those people down in new york city and west chester think they pay high taxes. the actual highest per thousand rate based on property tax is in up state new york because we have low property values sot impact and the cost is even greater on up state new yorkers by having this influx of illegals that are burdening our local taxpayers. this is a real crisis that kathy hochul and our governor needs to recognize and joe biden needs to be held accountable and while he's doing a victory lap on infrastructure, talk a migrants. stuart: millions of migrants in the united states and at some point don't that i have to be ziti lowed to work? >> certainly 4.5 million that came illegally across the border since joe biden was elected. yeah, we'd love to have some of the people get to work but we have to go through a process.

we couldn't do that and we need some kind of immigration policy that gives people who are truly going to live and take the oath of office to stand up and willing to serve and work. the front of the line is people coming here legally. stuart: congresswoman, thank you very much for being with us. thank you. show me the dow 306 306789 i --e 30. i love this part and getting a sense of the market. the dow 30 up in the green and dow up a quarter of one percent. >> we had a great month as january goes and a lot of times so goes the year. one down and 11 to go. stuart: thank you very much. keep your kids off social media. that's the new warning from the surgeon general. he thinks you should not be able to sign onto social media until you are 18. right now you only have to be 13. we'll deal with it, next.

♪

i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month.

that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. stuart: social media apps like

tiktok, instagram, and twitter allow users to join as long as they're 13 years old. the surgeon general says there's way too lounge. lydia hu has the story. what are the concerns? >> he's concerned about mental health and the distorted reality we're seeing on social media threatens the early developmental years of te teensd could possibly make teens hypersensitive to criticism later in life. he says that kids should be at least 16 before they use social media. it seems like a lot of parents agree. this new york city mom of an 11-year-old tells us she has no plans on letting her daughter use social media any time soon. >> i have friends that -- friends that tell me even when her child is consuming youtube, she's getting what she considers inappropriate ad targeting, losing weight for a 9-year-old. i think there's so many layers of why i think we as parents need to really delay the

exposure. >> while social media apps generally require users to be 13 years old to sign up, there's no real enforcement mechanism in place and lawmakers want to change that. wearisomed out to twitter, meta -- re-reached out to twitter, meta, and tiktok and no response and it's a top concern among parents and according to pugh research center, 40% of parents are extremely or very worried that their kids will struggle with anxiety or depression and now the surgeon general's comments come as more and more data links social media to depression among adolescents. >> i think the use of social media in an un-supervised rampant manner leads to a lot of issues regarding self-image that can lead to depression, suicidal thoughts and drug use. the need for parental supervision is credit cal. >> not just mental health that's a concern for tiktok users. tiktok as you know is owned by chinese company that raises

national security concerns. now tiktok ceo will testify before congress in march, stuart, as the conversation around banning tiktok gains steam. stuart: got t thank you, lydia. one creator of tiktok getting a lot of attention collecting free food samples with her follows and jokes she goes there to eat lunch or dinner. watch it. this. eating costco samples for lunch of dinner. this pita and hum mus was delicious. thank you. toast with blackberry jam. stuart: that creator joins me now. welcome to the show. you're not actually eating full three course me me meals from cs free samples, are you? >> no, definitely not eating meals but enjoying some snacks. stuart: do you make any money out of this? >> i don't unfortunately there is no creator fund in canada so it's really just for entertainment purposes. stuart: you're based in canada

and can't cash in on tiktok for what you're doing on tiktok, got it. now how did you start making these food row views? why do you think they're so popular? >> i think it's just quick, trendy and a bit something that's different than what i've seen before online. so just how exciting and different it is taking a costco sample, making it into something fun and exciting and quick. i feel like people are really resinating with that because everybody loves a free sample. stuart: they have this foot long dog i think plus a drink for $1.50. that's in america. now i know you got to pay for it. >> we have that too. stuart: do you do a review of that as well? >> i do. you know what, it started off where i was going to go to costco, go to the food court and make a video because i have a food tiktok page. by the time i was done with the samples, i was so full that i was like this is a video in itself and hasn't seen it before and thought it would be fun, new and exciting. stuart: there's a talk about banning tiktok in america. in they did that, i guess you wont be affected because you're

in canada; right? >> right, a lot of my following is in canada and i have other social media platforms i post on as well. stuart: you do. you do make significant money out of your posts; right? >> i make an okay amount of money with brand deals and sponsorships but not just based off views unfortunately. stuart: forgive me, this is a financial program, do you make $100,000 a year canadian dollars? >> i would say there, yes, a little less. stuart: we'll still take that. thank you very much for being with us. we appreciate it. >> thank you for having me. stuart: the trivia question for this tuesday: which state is nicknamed centennial state: colorado, connecticut, illinois, missouri? the answer, the correct answer after this. ♪ .. .

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♪. stuart: yeah, that's me. that is me indeed meeting my new grand daughter, madeleine. she is eight days old as of today. quickly which state is named the centennial state? want to guess, mike? >> number two, connecticut. stuart: i am too. i used to live in the connecticut. i believe that is the correct answer. no it is not, it is colorado. oh dear. >> leave it to neil. stuart: thanks for being with us in the hour. "varney & company," queer done. "coast to coast" starts right now. ♪