tv Varney Company FOX Business February 10, 2023 10:00am-11:00am EST
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ashley: the new york city skyline and all its magnificence. rihanna will be the super bowl halftime entertainment on sunday, looking forward to that. it is 10:00 eastern and i'm ashley webster in for stuart varney, let's get straight to your menu, modestly lower. we had a down day yesterday, could have a losing week for all three major exchanges, the nasdaq down 100 points. the tenure treasury yield rising ever so slightly, now up four basis points. it is up 3.70% on the 10 year treasury but bitcoin moving lower, down $38, $107, 21,797 on bitcoin. we also just got the latest read on consumer sentiment. lauren: the number 66.
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4. that was higher than expected. also the highest in over a year, since january of last year, two quick points, current conditions, this number very strong, coming in four points ahead of expectations. when you look at inflation expectations, those rebounded to 4.2% from 3.9% the prior month. we feel better about current conditions but not out of the woods when it comes to inflation. no reaction to the stock market. ashley: the consumer feeling better-than-expected. is that good for the market? bad for the fed? you lose track but thank you. dan ives joins us now, good morning to you, with us for the hour, what about consumer sentiment. this is a strong number.
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>> is either no landing or soft landing at that is what we are seeing, earnings season is better than feared, that's why despite the fire in a crowded theater, tech names are up, you are seeing a better macro take place. ashley: experts believe the us is going to enter a rolling recession meaning individual sectors decline in turn rather than all at once. any could ability to that? >> i would say it's going to be a fork in the road, winners and losers in terms of what we see in the economy, more cost-cutting on task and other areas but also relative to so much bad news baked into these names, mild recession is baked into the market and looks like we are getting a soft landing and that's the key and why we
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continue to agree on the screens this year. ashley: we need to get to this one too. wedbush downgrading lift and in your notes, in 22 years on the street is a tech analyst we listen to thousands of conference calls with many highs and lows, last night's lift call was a top 3 worst call. was that bad? >> it was a disaster of epic proportions in terms of that conference call. i think i was going to purchase a compass and send it to lift management team. it just continues to be, they can't get to profitability, felt like they were playing darts blindfolded and that is why the stock is off the way it is, they are the little brother of uber which is the best way to play rideshare and that's why this is a disaster in the making. ashley: glad you brought up uber, they are the other side of the coin, they are going to your point.
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mark mahhaney says lift is a second-tier player, stay away from second-tier uber continues to go strongly. >> it is winner take all. look it over, they are able to do it and profitably. this is a new step, that is why stocks continue to go higher. ashley: good stuff. you are looking at the other movers. what have we got? expedia. lauren: quarterly profit missed, what do they blame? companies blame the weather but they might actually get a pass for this because severe weather happened in the quarter. we know about those cancellations but southwest etc. that impacted them too.
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look at motorola, they reported record revenue, stock is up 5. 5%, they are trying to shift to public safety and enterprise security kind of company, you might think of them as cell phone or text type company. investors convinced for now. yelp, record revenue for all of last year, online services company and add revenue hunger in for them, had a record one million dollars, that stock is up 61/3%. ashley: very good. i want to get into this, corporate leaders backed biden into thousand 20 now skeptical of his billionaire tax proposal. lauren: dead on arrival. they are sure it's not going to reply on the republican house but some are unsure it could even get through democratic senate. the billionaires tax idea being floated is a minimum tax 20%, not just on income but on unrealized gains so stocks you
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hold, encroaching, the white house is only for the top one hundred of the population, they need to pay their fair share. taxing them on stocks that they hold. ashley: and how do you measure unrealized gains,? it's an unrealized nightmare for an agency that is overwhelmed. dan, come back and, what's your take on the billionaire tax proposal? >> good thing the street uses more noise from the beltway that ultimately not going to happen. it just shows some of this legislation, risks that come out, this is more noise from the 202 area code than reality. ashley: they do that so often. i love your deadpan delivery, says it all. stay right there. you are the witness for the hour. as we always say we locked the studio door so you don't have a choice.
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53% of republican voters say they would pick florida governor ron desantis over donald trump. in a hypothetical matchup for the president election. perfect person to talk about this, david, we see these hypotheticals a lot. what do you make of it? >> at this point in the race, do these national polls impact voters with the biggest influence, that's republik and primary voters in new hampshire, iowa, south carolina in a contest in the republican primary. no one has been able to get the nomination without being successful in those early states. so you have that. you have to look at does the number continue to increase, of those republican primary voters who say they are republican voters versus being trump voters, how they self identify. we have seen a growing number of the number continues to grow
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over the last few months in particular, republican primary voters identifying mainly as republicans. the third, for any of the candidates, whether desantis or any of the others, how do you talk about the former president and credit his policies which republican primary voters supported but be able to convince voters it is time to turn the page? the republican whether it is desantis or someone else who comes along, that person will be successful, could be successful, will have to be successful if you want to defeat donald trump who is still somewhere in the mid-20s amid primary voters. ashley: fascinating. i want to get into this, former aide to donald trump, melissa griffin claims governor to santos won't be able to handle trump's attacks much longer. listen to this. >> i'm going to be honest. i've seen trump take out every mini version of trump for the last 5 years.
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i think right now the party wants someone other than trump, they want trump light so they are boosting desantis which he doesn't new national interviews, nothing on the national stage. i think he will implode once trump keeps going after him. ashley: those are some big statements. what is your reaction to that? >> ron desantis being attacked by the panel at the view, one of the biggest boost he can get in this campaign right now, and it goes to the point that once much of the mainstream media begins picking up attacks on a republican it only boosts them and you see that in primary after primary, this trend that if republican primary voters think you're being attacked by the mainstream media they believe it to be unfair and to typical attack on a republican. you've seen it in primaries where those who get attacked
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ultimately go on to be successful. let's also keep in mind if you are not being attacked, you are not relevant. all of them want to be the person being attacked. ashley: very true as long as they spell your name right. we are out of time. fascinating stuff and 2,020 for a long way off, so lots of fun in the meantime. slamming florida senator rick scott over his views on social security and medicare. what exactly is he saying? >> he went to florida, at the university of tampa he left the 12 point plan from senator rick scott with a proposal to sunset federal legislation every 5 years for social security and medicare on the audience's leaders proof of what republicans want to do. >> president biden: social security and medicare on the chopping block every 5 years i find to be somewhat outrageous, so outrageous that you might not even believe it but it is
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what he said. >> senator scott is saying my plan calls on congress to reauthorize the programs every five years, the president is twisting my words. let's have a debate about it. that's not going to happen. bottom line is biden lost florida to trump. if you look at the margins, it was by 10 points among seniors who probably care the most about social security and medicare. were hoping in this outnumbered democrats in florida by 400,000 so this is a scare tactic to win back florida using rick scott as poster child of maga republicans. ashley: thank you very much. now this. chat gpt being accused of anti-conservative bias after it refused to write a positive poem about donald trump and then call biden a, quote, leader with a heart so true. as more states move to ban
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tiktok on government devices tech experts say the social media platform is like digital fentanyl. we speak with a former former social media consultant on how tiktok is poisoning the minds of our children in the white house considering ways to prevent us dollars from flowing into china. how the biden administration's plans to curb china's global dominance, we will be back. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine.
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ashley: let's look at these markets still moving lower although we turned it around. latest reading on consumer con sentiment hit a 13 month high and the markets reacting, the s&p is up 10, the nasdaq lagging hundred points. maybe a change of heart at least for this 5 minutes. the white house taking steps to curb china's global dominance and prevent us dollars flowing into china. how will they do it? edward lawrence, give me the latest. >> reporter: we haven't seen the plan yet, but we know china antagonizes the united states, the latest visible way with the chinese airship that flew over the us. some lawmakers and the admin station have a greater response when it comes to china. even members of his own party. former white house economic
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advisor clete wilhelms says china is winning on all fronts including economically. >> if our goal is to move supply chain out of china, reduce our dependence on china we need to provide alternatives to do so. this is an area the biden administration has been falling short. make no mistake, china is eating our lunch right now. >> reporter: talking about adding regulations for companies that invest in technology in china. a spokesperson telling me we are making progress formulating an approach to address outbound investments to provide greater transparency on us investment into china and other countries of concern. right now it is just talking about talking about it. the president last night downplaying the chinese incursion. listen to this. >> president biden: the idea that a balloon can break
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american airspace -- anyway -- it is not a measurable breach. it is totally a violation of international law, it is our airspace. >> reporter: representative michael mccall says the chinese could still control the balloon over the us, or the airship and adds this is a test to president biden to see if he would allow it to continue and transmit sensitive data back to china. he said this is a test president biden failed. back to you. ashley: the white house lawn is one of them noisiest places in america. >> i can see the equipment coming. ashley: you did great. look at this. more states are banning tiktok on government devices. a tech policy research associate of the heritage foundation joins me now.
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you call tiktok digital fentanyl. make your case. >> from the types of content individuals on the platform will be consuming, whether it be a dance video or something more depraved, the challenge capacity directed at a child's mind, something that poisons their training of thought, what they can a competent their day-to-day lives. too often we are focused on the data security components when in reality this is a national security threat across many aspects of our markets and our lives. digital fentanyl is the perfect way to describe it. ashley: what do the chinese get out of these videos? why such a security threat? >> the content side, they are able to push propaganda, state-sponsored messaging and general things that make americans less effective. if you look at chinese count part of tiktok which operates
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separate of western tiktok, they receive content that is predominantly educational, things that encourage self-help type content, but we receive depraved videos that are poisoning the minds of our children. looking at the data privacy perspective, pushes it over too far, we have all sorts of surveillance threats that we have to consider as well. ashley: i want to talk about chat gpt, accused of anti-conservative bias, refused to write a positive poem about donald trump. i don't know why i find that funny, also saying it won't produce partisan content but then called president biden a, quote, leader with a heart so true. is this the way gpt is going? >> all of these chat-based ai systems are infused with silicon valley leftist mindset. every step of the way you see all sorts of limitations on the software, whether it is a research question or something more playful like a poem it is
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not willing to put out anything critical of the f leftist worldview so what that is going to look like when it hits the corporate landscape is hr administrators using this to go through step-by-step processes to determine an employee's future, it will limit the types of content research teams put forward in their papers. while it is fun now, it will have real-world implications that are going to limit what types of information we are able to consume. ashley: 30 seconds. could this be a game changer for microsoft? not many people use being? >> google shows no signs of influencing this technology in their search browser. for the time being that could be the only vehicle by which consumers can use ai chat-based software. ashley: fascinating stuff. thank you very much. dan ives, come back. what are your thoughts on chat gpt? microsoft says it is a game
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changer. we have been talking about it for quite some time. what are your thoughts? >> it's revolutionary. it is an ai arms race between microsoft, google, apple and others and if you look this we, microsoft is popping champagne, it can significantly change the cloud ecosystem. look at google. google was a disaster, black eye moment, basically had the wrong wary, that is why the stock came off. it speaks to how important this is going to be in big tech and is not going away. ashley: fascinating to follow. google can recover. we had an analyst to set it is a blip it. if they can get it right google is so familiar to so many people, they can recovery. >> they can recover no doubt, but this was, this is a stain, showing someone a new car on the lot and the engine doesn't work.
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for google, a lot of heavy lifting ahead. ashley: you have such a great way of putting it, succinct and to the point. let's move on. andrew cuomo siding with republicans, the disgraced governor slamming president biden's handling of the border crisis, we will tell you what he had to say. chinese nationals at the southern border, apprehensions are up an astonishing 800%, all the details for you next. ♪ ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations,
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ashley: let's look at these markets. we were down at the open and turned around, the dow up 68 points. still on track for its first week in two months, the nasdaq moving lower threatening to snap its winning streak. come back, you are looking at other movers. let's begin with decks,. >> diabetes devicesmaker keeping an eye on sugar full-time. people who have these devices love them and investors do too.
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strong earnings going forward, a lot of promising launches. paypal earnings better-than-expected on discretionary spending. wise up 4%? jpmorgan, one of the brokerages coming out raising their target price, jpmorgan is going all the way to 103. ford credit steak to just over 1%. the moral of the story is they are struggling. ashley: they are indeed. let's change subjects. border patrol agents are seeing a major surge of chinese nationals at the southern border. how many are we talking about? lauren: an 800% increase to 1800 encounters with chinese nationals at the southern
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border. half of the encounters happened in december which i thought was interesting. we are seeing an increase in the number of different countries where nationals are seeking to cross into our country. most are quick to extradited on fears they could be spies, they have to prove they have a credible fear of persecution if they return to china. ashley: thank you very much. perfect person to talk about this, tom homan. why the surge in chinese apprehensions, we just had a chinese spy balloon shot down and we find out there's a massive surge of chinese nationals trying to come across the southern border. how can that not be a big national security risk? >> it is a national security risk. i said that for two years. when the biden administration caused this large of a surgeon overwhelms border patrol so in some sectors you've got 70, 80%
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of agents pulled off the line to process these troops which leaves the border right open. they arrested people from 171 countries. some of these countries are sponsors of terrorism. they have got 1.2 million -- 1.2 million got aways so to say not a single one of those people came from a country sponsoring terrorism -- people from china, russia, whose pakistan, iran, iraq, north korea, they must be from 171 countries, this is a huge national security should, you talk about the chinese, many who were apprehended, they were not claiming asylum, they were trying to get away. 80% of the agents off the line, one. 2 million got aways how many chinese who crossed the border got away? this is a huge national security issue and i think it is the biggest national security blunder since 9/11.
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sometimes we will find out how bad this is and it will be a bad day for america. ashley: once they get away we have no idea where these people go, what they get up to, they are gone, they are in the shadows, correct. >> absolutely. after 9/11 we created databases, tsa no-fly list, the screening database and visa security program, all these programs worked very well on vetting people who want to get a plane ticket to come to the united states, the way 9/11 terrorist to did and it worked well, but why any terrorist put himself in a position of trying to get a visa when he can support go to mexico, pay the cartels a little extra money and sound want to be one of the got aways, this is scary for the american people. not just an immigration issue but a public safety crisis, public health crisis, national security crisis. border patrol out of all people
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arrested 71,000 convicted criminals including over hundred with murder convictions crossing the border. ashley: you have a new op-ed out the reeds, quote, biden's latest border gambit opens america's doors to evil child smugglers. absolutely appalling good and no one is doing anything to stop this. >> this new program where they can financially take care of it, this has trafficking all over it. and a quarter million children were smuggled across the border and the vetting is very weak. hhs lost track of 40% of them. they can't find, sponsors or the children, 40,000 children they can't find. just last week they found 50 children working in a
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meatpacking plant in nebraska cleaned up and trails in the midnight entrails and the midnight shift, these children forced into labor so i said it's going to happen on the border in this program will open up another pathway for bad people to say i will sponsor that young lady, that person and once they get you aside they are forcing the sex trade and it is going to happen, not saying everybody but it is going to happen the same way it happened with the children of smugglers. ashley: we keep talking about it. let's hope someone is listening and does something about it. thanks as always for joining us this morning and giving us the latest information, we appreciate it. house republicans just past a bill that would block washington dc's plan to allow illegal immigrants to vote in local elections. come in here, lauren, will this go anywhere in the senate? lauren: i don't know. all the president has said, he hasn't especially said he would veto a bill but if you're
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asking how did the house of representatives pass a resolution that 42 house democrats signed on to that refutes the dc council vote, dc council voted, yes, illegals, they can vote, the house of representatives has no they cannot, you're asking how they intervene, congress has the authority to review dc legislation, that is the way it works but house republicans are standing up to their values saying you didn't come here legally, why are we going to let you vote? you are not estate in dc. some states are allowing it. ashley: you can't make it up. let's move onto this one. governor andrew cuomo blasting president biden over the migrant crisis. would see saying? >> the federal government was completely unprepared for this. i will quote the former new york governor, it was a mistake for president biden to open the border without having a plan to
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handle the tremendous flow of people. president biden said he would do it in the campaign but you can't change a policy unless you have a program to manage the change. the southern states were right that open the border created attornment is hardship for them to handle. they were right that the federal government was not prepared and then he lashed out at new york governor hochul, it is a federal problem but our state isn't even handling it. new york city mayor, everyone is coming to new york city, 43,000 instead of being dispersed across new york state. ashley: we will leave it right there. this story, conklin jim jordan firing back at aoc for accusing republicans of weapon icing the house oversight committee, listen.
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>> we are focused on the first amendment, the right to free speech, the right to speak in a way that you can communicate on a platform that is now become the public square. ashley: lots more to say on that. we will play the full soundbite after the break. also, we know the chinese spy flight that was shot down was able to listen in on conversations in america. chad program will have the full story coming up next. ♪ good luck. td ameritrade, this is anna.
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give me the latest on this. >> the chinese were dialed in and listening and. officials believe this bible and was tuned into us conversations, president biden is downplaying the entire episode. >> president biden: it's not a major breach. it's a violation of international law. it is our airspace. >> reporter: the balloon had multiple antennae to eavesdrop and soak up information. the government wants to know what the chinese heard. >> until we actually have hardware that was on the balloon we can't say for sure. we can take some educated guesses but you can't know for sure. that is why we should have shot it down as soon as it was approaching alaska. china should not be able to send airships into our airspace. >> reporter: rattled lawmakers pressed pentagon officials about what the balloon was doing.
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they have questions why the us waited so long before shooting down the balloon. >> if you can just say yes or no, you don't need to get into specifics. did we know about it? >> we understand this is part of a broader sweep of operations china has undertaken. >> we knew about it. >> we should talk about this and the more classified session. >> reporter: us officials are parsing the wreckage to decipher what the chinese were up to but they determined the chinese constructed the balloon with western parts within. writing. it is understood the manufacturer of the balloon has a direct relationship with beijing. ashley: interesting stuff. meantime congressman jim jordan is firing back at aoc after she accused republicans of weapon icing the house oversight committee. what is this about? lauren: looking at the video,
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you can see her sounding off. first, she called the hunter biden laptop half fake and then said the gop should be more concerned with real issues facing americans. jim jordan said americans care about free speech. >> we are focused on the first amendment, the right to free speech, the right to speak in a way the -- on a platform that has now become the public square. why is the fbi sending accounts to twitter and saying we think these violate your terms of service? it's one thing if it is some terrorist activity but this was just election issues, people speaking out. wise the fbi doing that? >> reporter: why is censorship by surrogate and that's a phrase he used, the fbi knew they had a receptive audience because of who worked at twitter and they thought those employees were politically inclined to buy the narrative
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that the agency was selling. ashley: absolutely. i think that is true. this one is interesting, former fbi agent claiming the bureau has become politically weapon eyes to. lauren: nicole parker worked at the fbi for more than a decade and said there's the washington fbi at headquarters and then other offices. >> the fbi's trajectory has transformed. on bureau, the bureau's mission range the same but its priorities and governing principles shifted dramatically. the fbi became politically weapon eyes did starting from the top in washington and trickling down to the field offices. >> reporter: she got emotional. bottom line for americans, all the stories we been hearing the past couple years, most americans have lost trust in the fbi which used to be this
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pristine image of justice and doing the right thing, not being political. ashley: exactly right, thank you very much. now this, changing gears, your super bowl party is going to cost a whole lot more thanks to inflation. madison alworth will show us how much your big game spread could set you back. if you are heading to arizona for the super bowl it will cost a good chunk of change to get into the big game, we are going to speak to us to about spokesperson on where the most fans are traveling from. that is next. so it's decided, we'll park even deeper into parking spaces so people think they're open.
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>> reporter: they are spending a lot more. it depends on what you purchase, but prices are up over 11% from last year but certain super bowl staples will cost you so much more. i will break it down for you, we prepared the perfect super bowl spread. let's start with pizza. you've got to have pizza, up 6. 4% in price. you want your burgers in chicago, catch up on our hot dogs, meet up 7.1% in cost. some good news for you. forget those, we just want the chicken wings which is my favorite during super bowl your saving money compared to last year, wings are down 22% in cost. eating those chicken wings, according to the national chicken counsel, one. 5 billion wings will be in this we can. you got to stop up on those because you will not be having
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eggs. they are up one hundred 37% in cost. we know eggs more expensive this year, $4.25 for a dozen compared to $1.79. potatoes. don't know how many are eating full potatoes but potato chips up 12. 9% in cost. you are thinking let's do the veggies, i want to be healthy, save some cows, dip in here. don't think you are saving money. up 8. 9% in costs, doesn't pay to be healthy when it comes to the super bowl unless we are looking at avocado saving 23%, down 23% in costs, beer at home, that is up 8.6% but you got to enjoy the super bowl with some beer.
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it is early, i won't be thinking this quite yet but later tonight i will be enjoying this ice cold beer and this delicious food. ashley: it is 5:00 somewhere as they say. great rundown, forget the veggies, bring on the pizza and the chips. dan ives, don't know if you are betting guy or a football fan, but what do you like in the big game? >> this is going to be the field going into sunday. ashley: are you going to be on the couch like so many others with all those goodies? >> a pre-big party watching the game, the apples super bowl halftime show and it's going to be super exciting time.
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ashley: what is interesting is these tickets, average of $4000. i can't imagine paying that kind of money. look at that average, it was way under $6726. this has become more of a corporate event, difficult for true fans to get in and afford it. >> every one that i know is going to the corporate side but we you can have many passionate fans going because you never know when you will get there again. it is magical to be there in person. ashley: it really is. i went to one in atlanta and i spent time working and never got to see much of the game but it is a big deal. thank you for being with us for
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the entire hour, you are a good sport, great to see you. super bowl 57 this sunday at 6:30 eastern time only on fox. let's check the market. we were down out of the gate but turned things around, a decent consumer sentiment number but now investors are digesting that and other things, the nasdaq meltdown, the dow flat, same for the s&p. the dow winners, oil going up, price chevron is higher, there are the others, walgreens, allianz, nasdaq, what do we have? the diabetesmaker, motorola moving higher and you can see paypal. still ahead, california congresswoman young kim, steve hilton, jonathan honing. the 11 am our of "varney and
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