Skip to main content

tv   Varney Company  FOX Business  February 23, 2023 11:00am-12:00pm EST

11:00 am
>> this is a national embarrassment what happened in eastern ohio. the only reason that pete buttigieg is there is because donald trump showed up. >> the backbone of the country falling apart. we have an administration that's focused on priorities dei inclinement. those two things at all times. their focus on those two priorities all all time, climate and dei while the rest of the country, the backbone, the actual nuts and bolts of how this country works decay. >> i wouldn't call it a bear, i think we're playing catchup. these earnings don't
11:01 am
re-accelerate, have to pay going forward. >> debt soon will be bigger than nominal rate of growth and become a dog chasing its tail and catching it and that hurt. stuart: that was written by john len p -- lennon and he thought that was one of the best songs he wrote. you remember all that stuff? 11:00 eastern time, thursday, february 23 and have a look at the market and it was very different an hour ago and green chutes all over the place and a bear moderate rally, if you can call it that. the dow is actually up a couple of points. big tech all of them down except microsoft, which is up $1.80, meta, apple, amazon, alphabet
11:02 am
all down. the 10-year treasury upsetting the market this morning and the yield, ashley, coming down a fraction at $3.91 and it's close to the 4% level. earlier this morning, it was at the highest level since november of last year. that's the markets this thursday morning, now this. 621 days till the 2024 election and it is very early. but the race has s already taking shape so which side has the most competent and compelling candidates? in my opinion, it's not the democrats. they're frozing in place to see if and when president biden declares his intentions. intentions politicoreports theyo quietly ease the biden/harris team out but as of now that's who carries their flag. different story on the republican side, lots of talent on their bench. two top candidates at this point are former president donald trump and the governor of florida ron desantis.
11:03 am
you may or may not like them, but they have plenty of executive experience. nikki haley was america's ambassador to the united nations and former governor of south carolina mike pence is a former victims president. mike pompeo, former secretary of state and director of cia, glen youngkin, governor of virginia, tim scott, 10 years as south carolina senator -- that's a ben. identity politics does not seem to be a factor. instead it's america first, education reform, securitying the border, doing something about crime and just as important defining america's real interests in the contest with russia and china. one last point, the president has a problem with his age and cognitive ability. if he ever steps away from the 2024 race, there'll be an avalanche of democrat contenders, but it will be hard
11:04 am
for them to match the experience and competence that the gop brings to the table. third hour of varney starts right now. ♪ sean duffy with me this morning. the republicans, in my opinion, have strong candidates. what cans the democrats? who do they have if biden doesn't run? system of articulation that's a -- >> that's a good point. you have gavin newsom, governor of california and pritzker, governor of illinois that could jump into the race. to your point, stuart, you've got to run on something and if you run on your record of governor, you better have a good state and people wanting to move to your state because it's so good and those governors don't have that at all. joe biden, and my friends believe, he's at the height of his game and never better in politics and things have never
11:05 am
gone better for joe biden in his life and that's his acespedesment. the democrats realize this -- assessment. the democrats realize this is a disaster of a presidency. but kamala harris in the wings s and they the democrats can sell kamala and joe with the hunter biden laptop and kick them both out with that story and usher in a new generation of leadership. i think what i'm doing is waiting the next couple months, do democrats in the media tell the story a bit more and engage in the story and truth behind the laptop and if you see that, they're ready to move joe out and one of the new guys in. the republicans have a great lineup of candidate. stuart: they do. >> again whether it's nikki haley or the leader of vivek ramaswamy, he was on tucker carlson and he's fantastic. taxes and regulation and build up the military, which is what republicans talk about all the time. he said there's a cancer growing in the country. we don't base our promotions on meritocracy. we're using diversity, equity,
11:06 am
inclusion, looking at affirmative action and all things that help rot the country and so i love his thought leadership, but it's a race between donald trump and ron desantis. stuart: at this point, it looks like that. sean, mike pence, former vice president says it's president biden's policies that led to the disaster in ohio. watch this, sean. roll it. >> this is one more example of absent without leadership in the biden administration. biden's policies on this economy derailed the economy of east palestine long before that train came through. i mean, this is coal country in eastern ohio, martha, and the record inflation that people have faced, the war on energy people have faced has presented an incredible hardship. stuart: okay. sean, pete buttigieg is there on the ground right now. he's about to speak as i understand it, but the vice president was saying absent without leadership. do you think that's how biden's
11:07 am
presidency should be defined? >> well, he's absent and has been leading but leading in the wrong direction; right. to pence's point, his policies have made things far worse in this country. again talking about inflation looming recession, open boarders, crime, the world is a mess right now with threats from russia and china. not good stuff, but i look at infrastructure, i ran for congress, stuart, back in 2010 when democrats passed the stimulus bill, it was like $850 billion back then. that was chump change compared to today, but that was supposed to rebuild american infrastructure. we had to spend another $1.2 trillion in infra-sinfrastructure.where is ? where are the train tracks and i drive on roads and bridges and we look like a third world nation with infrastructure and we're spending tons of money and it's going to green behemoth of
11:08 am
the energy and we don't get the benefit of the chain of debt around our neck in the future. stuart: sean, you share my exasperation and a lot of americans too. sean duffy, everyone. great new show, the bottom line, 6:00 p.m. eastern here on fox business. good stuff. all right, let's go to the markets. very modest rally for the s&p and the dow. sorry nasdaq. the dow is now down 14 points. ryan payne joins me now. let's talk big tech. what do you got on big tech? look, i've done some number crunching, you've done it too. big tech makes up 21% of the value of the s&p 500. 21 fertiliz21% from five company have a pe -- 21% from five companies and they have a pe ratio of 25 times future profit. are they too expensive? >> yeah, put that in plain english. no, no, it's very expin sieve and it's expensive in the fact
11:09 am
we have high inflation right now; right, interest rates are higher today. that multiple maybe before the pandemic or before we had hyperinflation wouldn't be a big deal, but now when you can get 5% on a one year treasury having that kind of multiple probably count work in this environment. stuart: they're not doing very well this morning. started out well and now they're not doing well at all. what about the labor market, seems to me to be very strong, you can't have a recession when you have a strong labor market, can you? >> amen. preaching to the choir here, stuart. i 100% agree and this is where everyone has it wrong and everyone thinks the fed can keep interest rates extremely high and keep monetary policy tight and it's going to bring larra boar market down -- labor market down and they can't affect supply and supply is 2.2 million baby boomers retiring from the work force every single year and look at job openings at the highest level ever in history, that's not a labor market that will cool off.
11:10 am
stuart: not without dramatic increase and outlook for the market is not real positive, is it? >> stuart, i'm the biggest bull you've ever met. i'm very positive on the market. stuart: prove it. we've just gone through this that big tech is expensive and labor market is extremely strong and not going to cool off, and you're -- the feds will keep raising interest rates and you're wildly bullish. >> not wildly bullish on tech. outside of tech, there's great bargains in the market and the market is reasonably priced outside of tech. but a strong labor market means people's wages will go up and they'll continue to spend in america. that's what draws the economy is people spending money and if you look at it from that perspective, it's not going to -- the economy won't cool off this year even though the fed wants it to. sp back to 3,000, up to 4,000 right now and up to 3,000 by the middle of the year. >> makes me more bullish and the
11:11 am
strategists never get it right and always wrong, stuart. more to the point than that is a lot of negative expectations have already been built in. look at past quarter in earnings, they weren't great but they were better than feared and that's what matters. stuart: okay, most of the regulars are bearish but you, sir, are bullish going the other way. thank you, ryan. >> thank you, stuart. stuart: get to going and will they're asking returning employees to share desks. that's interesting. why are they doing this, ashley, and how is it donna work? ashley: good question and it could get ugly. it's part of the efficiency strategy and they'll have to cheryl workers in google's cloud division will share with a coworker who will be in the office on alternate days so they're not at the same desk on the same day. what could go wrong, especially if one is a messy individual. the model applies to offices
11:12 am
kirkland, washington, new york city, san francisco, seattle, and sunnyville, california. google describes the sharing model as combining the best of pre-pandemic collaboration with the flexibility of hybrid work. google laid off 11,000 employees last month. this latest move will also save them money -- the company some money as some buildings are going to be vacated because they're shrinking the size of the office by half i guess in theory but not sure how well that'll go down. stuart: man, times change and used to be a big tech job was the best thing that could possibly happen to you and now you share a desk. all right, ash, good stuff. thank you. wells fargo just sent its top performers on a luxury retreat. then days later some of those people were reportedly laid off. we've got a report. the president of a christian college speak out against the white house plan to cancel student loan debt. he claims it hurts schools that don't take student federal loan
11:13 am
money. he's here to explain. pandemic school shut downs caused students to lose on average six months of learning and math. that number seven higher for low income students. lydia hu has the full story after this. ♪ thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪ there's no going back. (vo) verizon has the epic new phone your business needs
11:14 am
on the 5g network it deserves. boost your team's productivity with samsung's fastest processor yet. switch and save up to $1000 on the new galaxy s23 ultra. now that's epic. on the network america relies on. among my patients, i often see them have teeth sensitivity as well as gum issues. does it worry me? absolutely. sensodyne sensitivity & gum gives us the dual action effect that really takes care of both our teeth sensitivity as well as our gum issues. there's no question it's something that i would recommend. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. 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.
11:15 am
oh yeah, that is them. (that is howard) yeah, that's on howard's campus. ohhh, she's so powerful, she carried on the family legacy. we were blown away. (chuckles) i not only was a student and an undergrad, but i've been a professor there for twenty years, so it's really a special moment to know that i had a family member who over a hundred years prior have walk these grounds. it's deeply uplifting. yes, it is. we're walking in their footsteps.
11:16 am
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.
11:17 am
hi, i'm katie, i've lost 110 pounds on golo in just over a year. i was a diet soda addict, and i needed to have a diet soda every morning as my eye-opener. with the release, the cravings are gone. golo worked for me when i thought nothing would work for me. the first few weeks were really astonishing how quickly and how easily it came off, how much better i felt, what a change it made so fast. i feel like anything is possible after accomplishing what i've done with golo. stuart: we got a new report and reveals that half of all students started the grade level below level@least one subject. lydia hu, is with me this
11:18 am
morning. what did the report show? >> it's an increase from 2019 and showing impact of the stay at home orders for the students. before the pandemic, about a third of students started the school year below grade level back in 2019 according to the department of education. now, stuart, these findings come as states accelerate spending of federal dollars, roughly $190 billion in aid for education was allocated during the pandemic. before this current academic school year, states were spending roughly $2.2 billion for month of covid school relief funds and now it's more than doubled because funds are going to expire next year and that prompts another concern. for districts that have tapped the funds to address learning loss, the worry is now maintaining these educational initiatives like tutoring, super school and smaller class sizes. >> a third of students in a classroom is going to be near impossible. we're probably going back to the old way of teaching as just
11:19 am
teach to the entire class. >> meanwhile some parents are draining their bank accounts to pay for private tutors and one new york city mom we spoke with said she spent so much she's considering private school, watch. >> it's a more upwards of $10,000 that i've probably spent on tutoring. she gets tutored once a week, i feel like we're not really getting a great service from public schools in general. >> of course that leads to another problem, stuart, which is declining public school enrollment. already more than 1 million student haves left the public schools since the start of the pandemic and it's for situations like this and parents tired of supplementing, trying to get their kids caught up. stuart: more than a million have left the public school system? >> yes. stuart: goodness me. lydia, good stuff indeed. thank you. the president of new st. andrew's college, a small college in moscow, idaho, says president biden's student loan forgiveness program hurts small
11:20 am
schools like his. the president is mark merkel and he's joining me now. sir, if a college opts out of the federal loan debt program, they can't get federal relief. does your college opt out of the federal student loan program and if so, why don't you opt back in? >> no, we do not and we will not opt back in. we don't take federal student loans or pell grants and didn't take the ppp money so we don't take any of it. stuart: why not? >> because we don't want the strings that are attached to it. when you take the money, there's a whole host of strings that would compromise our mission as a school. we don't want to be attached to that and also i think taking that money causes a institution not to live-inned the price signals of the free market and that's been a real problem for higher ed. stuart: would you describe your college as conservative christian? >> yes. i think that's a pretty good description of us, we're a private christian liberal arts college. stuart: let me ask you about this, thousands of people have
11:21 am
been flocking to one university in kentucky for a marathon worship service, it's so big they can no longer hold services on campus. i'm going to show you two students on "fox & friends" from asbury, watch this, please. >> it was absolutely incredible. it was such a neat feeling when we walked into that room just watching people worship and also getting to join in on that experience. it was just kind of surreal honestly. >> when you walked in, it was overwhelming feeling of love and compassion and just jesus' spirit. it was -- i can say it was real. stuart: dr. merkle, you run a christian college. what do you think about this faith movement on college campuses and the expansion we're seeing? >> well, we believe that god is real, we believe that holy spirit actually works, and we certainly welcome his moving. stuart: how do you relate christianity to conservative economics? >> well, how do i relate
11:22 am
christianity? well, i think conservative economics grew out of the western christian tradition. stuart: that was in awful of my expression there. you're telling me that capitalism emerged out of christianity? >> yeah, absolutely. i do think that understanding of personal responsibility is something that came out of christianity. it's one of the things that we really try to uncle indicate at new st. andrews. stuart: thank you, sir. that was truly enlightening and we do appreciate it, sir. thank you very much. >> thank you. stuart: yes, sir. andrea mitchell admits she was imprecise when claiming governor desantis didn't want slavely taught in florida schools. ashley, this is a little complicated, a little nuanced. what exactly did she say? ashley: little nuance. when she says imprecise, it's another way of saying i got it wrong. in an interview with vice president kamala harris,
11:23 am
mitchell asked why desantis did not want slavery or the aftermath of slavery taught in florida schools. that's not true and harris didn't correct her, no big surprise but mitchell was forced to make an apology. well, sort of. watch this. >> last friday with vice president harris, i was imprecise in summarizing governor desantis' position about teaching slavery in schools. governor desantis is not opposed to teaching the fact of slavery in schools, but he has e posed the teaching of african american study curriculum and some authors and source materials that historians and teachers say makes it all but impossible for students to understand the broader historic and political context behind slavery and it is aftermath in the years since. ashley: not really an apology. desantis has tightened regulations on materials that are allowed in florida public schools saying he doesn't want critical race theory or explicit materials being taught.
11:24 am
desantis' press secretary called mitchell's question to harris shameful and if she didn't issue that correction, the florida governor would not consider interviews with msnbc or nbc. so there you go. we've got a somewhat apology from andrea mitchell. stuart: economists say they're quitting the u.s. news rankings. what's the problem? ashley: well, they say the ranks formula discourages them from admitting promising graduates of less prestigious colleges that haven't performed as well on tests with applicants from other schools and penalized in the rankings when the graduates chose careers in public service over more lucrative options. harvard was one of a dozen medical schools and more than 40 law schools ranked by u.s. news that have said they are no longer going to provide information to the outlet, which has ranked colleges and graduate programs since 1983 and the rankings exodus isn't just making it harder for consumers
11:25 am
now to find reliable information about potential college options. critics say that information at higher education institutions provide about themselves to the public things like costs, graduate placement rates, et cetera, has historically been and in many cases still is not accurate. but they say regulators have been slow to crack down. stuart: all right, ash, thanks a lot. best to get back to the market and the dow is sinking. we started off very strong this morning, dow is up about 150 points inpoin15 --50 points andn the downside after opening higher. now this, we've all seen this video a fighter pilot taking down the chinese spy flies. we now know the pilot snapped a shelfy moments before the shoot down. the pentagon released the photo and you'll see it. you don't need an office of work a holoicks to run a successful
11:26 am
business. roll tape. >> i hate to say this but sometimes you got to work a little so you can ball a lot. >> that's beautiful. that changed me. i'll give you ten minutes. stuart: a new study shows four day workweeks actually benefit and attract talented employees. the man who conducted the survey joins me next. ♪ ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina?
11:27 am
hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed.
11:28 am
11:29 am
11:30 am
♪ >> stuart: it's upbeat and positive and it's abba. boring scandinavians. can i say that? chias chicago at 43 degrees. not bad for late february in chicago. susan: can you name another abba song? stuart: no. check the markets and the aforementioned susan li made her
11:31 am
presence felt and i want to start with the stock of the day, nvidia. susan: absolutely. i counted 23 price target hikes going up to 275 mostly and bring up the board for stu to look at and looking at wells, barkly, bank of america and calling the stock 20% upside on nvidia and they're already up 40% in the first six weeks of this year and 10 month high. nvidia seen as main beneficiary of art initial boom and chips needed for the chip software and lifting other chip stocks amd, broad come and the like. stuart: on the screen is the analysts and where they think nvidia stock is going, all above where it is now. susan: yeah. stuart: my goodness me. netflix, they're cutting prices? susan: yes, this was a report in
11:32 am
the wall street journal cuts reports in three dozen countries around the world and not here in the u.s. just yet and no bargain yet and netflix is cutting prices and mostly emerging economies and think of latin america, middle east and asia and europe and that's not a good sign for stock being down and cut prices to keep subscribers signed and demand is going down and we have warner bros discovery, hbo max expected to report a tripling in sales to end last year. wmbd is up 55% in six weeks. it was down about 80% last year too and it's a catchup recovery. stuart: i've been talking about a netflix special. it's fascinating and original and very funny. susan: what is it about? stuart: watch it and you'll see. susan: can't even give me broad context of what it is? stuart: haven't got time, producers are killing me here
11:33 am
because medroling on about philamina konk. susan: airline haves 1,000 flights canceled because of the winter storm near california and still the stocks are up today because of this continued demand for travel, revenge travel after the covid lockdowns and had another airline quantis in australia and reported record profits and that's the same for everywhere else in the u.s.. susan: thank you, susan. stuart: philamina konk, watch it. ashley, more layoffs? what's going on? ashley: we do. i've seen that and it's hilarious and fell off the sofa. it's excellent. stuart: thank you, ashley. susan: what is it about? stuart: we'll tell you later. watch it. ashley: for something not quite so funny, job layoffs. npr planning to lay off about 10% of staff due to ad market
11:34 am
and corporate sponsors brought on by uncertainties in the global economy. semper cutting back and tightening the purse springs. in a memorabilia know mo ceo said the financial outlook had darkened considerably and the budget cuts were simply not enough and npr announce add hiring freeze last year following a $20 million falloff in sponsoring revenue and that's shortfall now projected at 30 million. in the banking sector, wells fargo laid off hundreds of mortgage bankers including top producers that surpassed 100 million in loans and intented with internal sales conference and high achievers and the shift comes after sharply high interest rates led to a collapse in loan volume and now it's costing jobs. stu. stuart: nothing good about layoff and that's a fact. ash, thank you. a tweet from bernie sanders.
11:35 am
he's calling on companies to offer four-day workweeks without the loss of pay. 61 companies in britain experimented with that four day workweek. joe o'conner, his nonprofit studied these 61 companies. joe, welcome to the program. i have a series of questions about the four day week. number one, did productivity improve? >> so what we saw in this study in the uk, which was the largest of its kind anywhere in the world and really is similar to results from previous studies in the united states and ireland is 92% of the companies decided to retain the policy after the trial and it's been a success for their businesses, and they've seen a year on year afternoon increase in revenue of 35% and these companies are successful and they're grog, and i think it really adds to the bottom of evidence that's mounting and shorter workweeks lead to employees happier and healthier and for the companies they work for and they're more productive, more efficient and they're also much more
11:36 am
attractive when it comes for recruitment and retention. stuart: these companies went for the four day week, did they pay their employees the same as they paid when they were working five days a week? >> they did. this trial was based around what we call the 18 0e, 1 principle. 100% of the pay 80% of the time and delivering 100% of productivity. what this was about is forcing function and four day week and talking about the four day week was not just about changing the number of hours that people work but changing the way that they work and these businesses seems counter intuitive and how do they manage to produce the same and in my cases better outcomes in less time and the answer lies in the fact of what these companies did and they streamlined their operations and they improved their processes and found efficiencies and they changed work practice and they eliminated low value or wasteful
11:37 am
activities like unnecessary or overlong meetings distractions and made better use of technology and automated certain tasks and in addition to that there's a powerful psychological behavior at play here as well. the four day workweek is an extremely powerful incentive and so transformative and life changing for people and what we saw in the organizations is that because the success of these trials was based on very clear business objectives and performance targets people were very motivated and focused to meet these targets in order to retain this four day workweek benefit. stuart: you like it, the employees liked it and some of the employers liked it. come back because this could well be a trend. thank you for being here. appreciate t sir. fedex pilots got closer, one step closer to going on strike. they're now warning customers to plan for alternate delivery methods and we've got a report. the navy must beef up its fleet
11:38 am
if we want to protect ourselves from china. the navy secretary sounding the alarm that says beijing is a better shipbuilding capacity and the u.s. can't keep up. jennifer griffin reports from the pentagon next.
11:39 am
11:40 am
11:41 am
11:42 am
stuart: we've got the if i canture. there it is. it's a -- picture. it's a selfie taken by military pilot moments before shooting down the chinese spy flight. the pentagon confirming most of the downed aircraft was recovered off the coast of south carolina and it included surveillance cameras, solar panels and other equipment. "the wall street journal" reports that the u.s. spent at least $1.5 million shooting down objects over north america earlier this month. next case. the u.s. will send 100-200 more
11:43 am
troops to taiwan for trading. training that is. chief national security correspondent jennifer griffin at the pentagon and why the build up, jennifer? >> all eyes on taiwan after approaching the one year anniversary of russia invading ukraine but just a point of clarification and that picture was taken by a u.s. u2 pilot surveilling that chinese spy balloon as it crossed the continental u.s. before the f22 pilot took it down off the coast of south carolina fox news has confirmed the biden add minnesota station plans to send -- administration plans to send 1-200 troops to china after the news was reported by "the wall street journal" and this number will expand a much smaller training program and includes the national guard, special ops and u.s. marines in
11:44 am
the past. the training the u.s. gave to ukrainian troops for years after russia took crypnea in 2014 and a key factor that allowed them to hold off the russian invasion that began a year ago. meantime navy sec tourist carlos del toro gave the following warning about china's navy this week. >> we do need a larger navy and more ships in the future and more modern ships in the future in particular that can meet that threat. unfortunately china has a significant advantage. >> china's navy could field up to 400 ships in the coming years up from the 340 they have now and the u.s. has fewer than 300 ships and u.s. navy announced last year it is retiring eight latorro combat ships even though
11:45 am
they're new and ships had repeated engine failures and technical problems and antisubmarine systems intended to counter china's growing naval capacity and the marines could not send a large crisis response unit to turkey after the devastating earthquake because there weren't any amphibious ships in the region. they sent a warning to china about helping russia with the invasion of ukraine. >> there'll certainly be consequences for china should they deepen their relationship with russia. we haven't seen them give lethal aid to russia at this time for the war but they haven't also taken that off the table. >> we've learned, stuart, the biden administration could declassify intelligence after this with lethal aid to russia right now and we've learned the
11:46 am
treasury department will be bringing more sanctions against russia that will also include chinese entities active innovating sanctions. stuart. stuart: jennifer griffin, thank you indeed at the pentagon. it's happening right now, transportation secretary pete buttigieg is speaking near the train derailment site in east palestine, ohio, and only just begun speaking and we'll bring you any headlines we get as soon as we get them. show me the dow 30, please. we've got a real change in the market. we opened higher, strongly higher and now we're down all across the board. i can see only, what, six winners out of the dow 30, 24 losers and the dow is off 166 points. powerful storms moving across the country. i can't believe this but los angeles county will see iting first blizzard warning in more than three decades and jason frazier has the forecast after this.
11:47 am
11:48 am
steppe gold, mongolia's premier precious metals company, is an action-packed expansion story, expected to deliver superior returns to shareholders. steppe's low-cost production is steadily growing at their flagship site, projected to be more than 100,000 ounces of gold annually. the company's fast-tracked phase 2 expansions, and ongoing exploration work support growing the mine life past its current 12.5 years. steppe gold.
11:49 am
11:50 am
11:51 am
♪ stuart: that is general mitchell air force in milwaukee, and it's 33 degrees there right now. by the way, it's going to drop to about 11 degrees tonight. wisconsin is caught in that major winter storm that's pushing across the country. it's make ago mess of the airports. more than 2100 flights have been delayed, 879 canceled just today so far. look who's here. meteorologist jason frazier is with me. who's going to get the worst of this storm? >> it really depends on where you are because this morning when we woke up especially for those of you in new england, you woke up to a combination of not only snow but rain but also some of you even saw some freezing rain. live look at radar right now and here's the good news, we're starting to see some of the moisture tapering off here but zoom in to new england and show you what's happening there. so boston right now, you're
11:52 am
getting a combination of rain, especially south of bean town and a bit of snow. we're going to have to watch what the temperature will be doing really concerned about the mass pike as well as those that are using the i-95 corridor. meanwhile while all of this is happening, talk about what's happening across the upper midwest and minneapolis got hit pretty hard with snow here and we're still seeing lingering snow showers across portions of wisconsin, especially those of you north and west of green bay. so this low, the good news is finally starting to move out of the united states. i think over the next 24 hours we'll finally start seeing things taper off, maine will be one of the places that we're going to have to watch for snow here later on today and they could pick up anywhere between another 3-5 inches of some snow here. let's talk about some of the ice. unfortunately places like parma, michigan, and martin, michigan, picked up three quarters of an inch of ice and that's why we're dealing with power outages out there and also those of you
11:53 am
across new york state, you've picked up anywhere between a quarter of an inch to half an inch of ice and we have a number of people, stu, without power. over a million people nationally without power, michigan really got hit pretty hard with some of this ice accumulation. stuart: what about that warning for southern california? some kind of snow event? >> yes, so they have a blizzard warning that is going to be going into effect starting tomorrow morning so it's la¢. la county and hasn't happened in 30 years. downtown la is not going to get snow. don't be concerned about that and we're talking about elevations that are about 2,000 feet and higher. stuart: got it, they'll have snow. southern california. >> southern california but anything is possible in california. stuart: it is california. jason frazier, thank you, sir. >> good to see you. stuart: pilots for fedex moving close tore a strike. good lord. labor talks have stalled. ashley, cast going on here? ashley: appears fedex pilots
11:54 am
inching closer to a potential strike and the union approved a strike authorization vote but no date specified and it's a serious step and sign that the major rift between the union and fedex management hasn't been solved and over 6 months of oversight from federal media and the union said no new talks have been scheduled between the two sides and the company says potential strike voters no impact on fedex's service and that the company says it's still in productive negotiations with its pilots, but some customers are being warned, watch out. we could see a strike. we'll have to wait and see. stuart: this one is for you, ash, vice president kamala harris will meet with spacex, amazon, and other big space companies today. what are they going to talk about? ashley: well, climate change of course. how to make sense of the amounts of data collected by satellites and other earth observation systems to address climate change issues. the discussion is part of the biden administration's largest
11:55 am
push to address climate change and other ways in which space technology can benefit earth. the administration is a goal of reaching net zero in the united states carbon emissions no latter than 2050. along with climate change the talks are focused on creating new kinds of jobs and opportunities in the space sector. that's a good idea and amazon and spacex agreed to provide training for community college students in space tech. stu. stuart: got it, thanks very much, ashley. that time is almost 11:55 so here is the trivia question of the day: which future president's plane was shot down in world war ii? richard nixon, gerald ford, ronald reagan, or george herbert walker bush? i know the answer to this one for sure. ♪ less sick days! cold coming on? zicam is the number one cold shortening brand! highly recommend it! zifans love zicam's unique zinc formula.
11:56 am
it shortens colds! zicam. zinc that cold! we got the house! . . then we deliver to your new home - across town or across the country. pods, your personal moving and storage team.
11:57 am
11:58 am
11:59 am
>> transportation secretary buttigieg just started to speak. he is in east palestine, ohio. ash has been polling it. any headlines, ash? >> yes he actually opened it up to questions. first question was why didn't you get here earlier? he said rook i had to balance the situation. he wanted to be on the ground that is how he is wired but wanted to allow the ntsb to do their job which he says they are doing. he praised the residents of east palestine saying they have come together as a community but he is also talking about regulations right now.
12:00 pm
took a swipe at the trump administration saying that they let down some of the restrictions on transportation, safety restrictions and did away with some of the regulations. he said it is up to congress now to bring those safety regulations back to make the entire transportation system that much safer. so that is the latest from mr. buttigieg. dagen: thank you. here is the trivia question. which future president's plane was shot down in world war ii? i know the answer to this one but i let you two first, ash. who you got? >> i think i do stu. george h.w. bush. dagen: you are correct. he was shot down on a bombing run on an island. he was rescued by a submarine. that is it for me. "coast to coast" starts right now. sean: we've been watching the same presser going on with pete buttigieg in ohio. we're finishing to learn a lot more how the train

62 Views

info Stream Only

Uploaded by TV Archive on