a really, it's a wonderful tradition, very proud of it. great to have everybody, my my fox family last night, i had a great time. real quick, want to take a look at futures. we do have some pressure, the dow falling just a little bit more now, we're down 79 points. nasdaq is down 80. s&p is down 13 and change. real quick, mike, obviously, earnings season is wrapping up. final word to you. >> look, everything is happening this afternoon. if nvidia were to miss, i could see the market down 5-10% over the next two weeks, and if they beat, that santa claus rally is in full effect. cheryl: all right. obviously, we're going to be watching all of the numbers coming out as all the markels, as mike lee says, are going to be after the bell. great to have all of you here. "varney & company" is up next. ashley webster is in for stu. hey, ash. ashley: hey there, cheryl. good morning to you. good morning, everyone. indeed, i'm ash ally webster in

today for stu. president biden, by the way, wasting no time making his first gaffe on the first day of his 81st year. we're going to show to you the tape on that. and more bad news for the president, president trump's lead over joe biden is growing, and we're going to show you the very latest poll. meanwhile, in the mideast there are reports that a deal for hostages is close. we'll have a report from the ground with the very latest on the developments there. in the sports world, another trans-female breaks a college swimming record after switching from the men's team to the women's team. brian kilmeade will be here the talk about that. take a look at the futures, we had gains yesterday, but today the futures pointing to the slightly lower open. the dow, the s&p and nasdaq down anywhere from a quarter to a half a percent. let's take a look at the 10-year treasury yield, see what that is doing. it is up but barely, right around 4.42%. we take a look at a bitcoin, we like to keep an eye on the

crypto. it's been on a nice run recently be down $ -- but down $562 at right around $37,000. all eyes on nvidia i -- ahead of its earnings report this afternoon. the chip maker hit an all-time high yesterday. the stock up an a astounding 245% this year. could go higher. meantime, well, we talk about this every year, politics is off the menu. that's the message families and friends are sending each other as they get with ready to gather around the dinner table for thanksgiving. but does that ever rial work -- really work though? there's always one person, right? we'll get into it. anyway, look at this. the all-american christmas tree, we've been talking about it this morning, on fox square it has been lit. the holidays are officially underway. and, by the e way, isn't it a great sight? 50 # feet tall on sixth avenue. it is tuesday, november 21st, 2023, "varney & company" about

to begin. ♪ ♪ ♪ ♪ ashley: all right, let's go. there's that beautiful tree in fox square. looking down again on sixth avenue. let's go, matt and kim singing it, and let's get right to it this morning. we're going to get straight into politics. following a string the of bad polls for the president, another one shows donald trump holding a 7-point lead over joe biden in the 2024 rematch. ben domenech joins me now to talk about it all. ben, good morning to you with. is it time for the biden campaign to start worrying if they haven't already? if because you can't keep claiming that these surveys are outliers, right in. >> i think it's past time for them to start worrying.

i think they actually have the start considering whether there ought to be a biden campaign at all, you know? the level of support for the president has a collapsed in such speed and with such a clear, you know, undermining of his support from key demographic groups for the democratic coalition, i think that they actually have to start having the conversation that david axlerod has keyed up, that several other sort of, you know, serious-minded democratic consultants and the like have been very open about, about whether they really want to go into 2024 with an 81-year-old joe biden as the head of the ticket. the simple fact is that he is not going to be the able to run the kind of campaign that you want to run in this environment, one that is able to go out there and glad hand with people, do all the normal things. he's not capable of doing that, and and that sends a message to the american people that he's probably not capable of being president either. ashley: well, on side note, ben,

i thought this was interesting, rfk jr. actually holds a lead over both biden and trump in a favorability poll. what do you make of that? >> well, i think that, frankly, people want the move on from this generation of leadership. you know, as much as there are a lot of people who say, well, i'm backing joe biden to stop donald trump, or i'm backing donald trump to stop what the democrats and and joe biden are doing, i think there are a lot of voters out there who feel like we want someone new, something new out of the political atmosphere here in america, and we appreciate, you know, the heritage of the kennedy family but also that rfk was someone who, frankly, was vindicated in a lot of ways about the idiocy of covid lockdowns and approaches used in the recent past. and i think this is a very real threat to both candidates. a third party candidate city from rfk jumbles everything, makes it more chaotic and, frankly, diminishes the total in a way that we haven't seen since ross perot.

ashley: does, very quickly, does joe biden run, or does he get replaced, in your opinion, ben? >> you know what? i talk about this with stu quite a lot, i actually am coming around to his opinion that joe biden is not going to be the candidate come next november. ashley: ah. >> i think this is a very slim window. maybe he has the conversation with his family around the thanksgiving table, maybe he has it, you know, during the holidays, but i think it's very clear that he cannot win this election. ashley: all right, we'll leave it right there. you're absolutely right, ben, stu has been saying this for some months now, i believe. ben domenech, great stuff. happy thanksgiving to you, sir. >> happy thanksgiving. ashley: all right. well, by the way, vice president harris responding to a string of bad polls showing the biden white house is certainly trailing trump in a 2024 rematch, so what is the vp saying, lauren? lauren: well, ashley, good morning, she's ready to work. ashley: good morning.

lauren: she told cnn. ashley: finally. [laughter] lauren: we're going of to have to earn our reelect, there's no doubt about it. it is absolutely right in a democracy with free and fair elections that the candidates, the people who want to continue in leadership, have to make their case and have the make it e effectively. and both vice president harris and president biden, they set up threads accounts, and they're using tiktok to meet voters where they're at and tout their administration's accomplishments. but this is the problem, pull up the first poll. nbc, biden is trailing trump by 32 points. 46, trump; 44, biden. but biden would also lose the desantis and haley, that according to fox news poll asking if the election were right now who would win, and in all three cases the republicans beat the president. ashley: yeah, not looking good for the president. next one, lauren, as joe biden turned 81 yesterday, what did donald trump do? is. lauren: oh, the timing, released

his medical records. his doctor gave him a clean bill of health, praised his weight loss, his improved diet and said is he scored exceptionally on his cognitive exams. of course, poll after a poll, basically three-quarters of americans think joe biden is too old for reelection. and president trump says, well, his doctor says my cognitive skills are exceptional. ashley: a yes. the timing, how -- what a coincidence. lauren: good timing. ashley: a lauren, thank you very much is. take a look at these markets, the premarket showing down just a little bit. we're waiting for the fed minutes later on today, of course, nvidia after the bell. david bahnsen joining us now. good morning to you, david. are we going to have a santa claus rally? what do you say? if. >> well, i think you know how i feel about these short-term predictions. i can't lie to our viewers and say that i know. there is plenty of reason the believe that we have it, that the last few weeks were, bond yields dropping significantly,

stock prices moving higher a lot. could we run in place for the next month? if i think that's very possible. ultimately, really, ash, what the markets are -- have to do now is price in the fact that the fed will be cutting rates in 2024 but not for a great reason. the economy will be slowing down. ashley: right, that's the paradox, as you pointed out. but i want to get to nvidia, if we can, reporting after the bell. we had a guest on maria's show that said basically, hey, if they beat, rally continues. if they miss unexpectedly, expect a selloff. i mean, is there that much riding on nvidia's earnings? >> i want to come on with those bold predictions that if the earnings are good, it'll rally and if they're bad, it'll sell off. [laughter] ashley: yes. enter i love that. listen, it's 125 times earnings, so good news does not necessarily mean a rally's more

because good news is priced in, great news is priced in, perfect news is priced in. so there's all kinds of reasons it could end up selling off a, but, you know, it has a ton of momentum. and until investors realize they're overpaying, this could very well continue. it's just too speculative for our blood. ashley: i can't let you go without some dividend picks. cisco, let's begin with cisco. why do you like it? >> i like it, we've liked it for years. we've done very, very well with this. it had been up quite a bit this year, and it sold off last week. it had a tough quarter. one of our our only names that really disappointed this quarter, and so it gave it even an a lower entry point for investors to come in and, ultimately, i think the that longs right now -- challenges right now are merely they have a buildup, a backlog they have to work through. cisco's really executing well, and we think getting over 3% dividend yield at this valuation is a great time to come in. ashley: and also salute general

mills. >> well, you know, we love the consumer tape things sector, ash, and this is a name that was a huge performer in 2022, and we didn't own it. it sold off in '23, and we came in on the cheap. now you're getting a high 3% dividend yield and only a 15 times valuation. this is a great brand name in food and beverage and even dog food and other pet-oriented products. we really like general mills as a low valuation, high dividend grower. ashley: very good. we'll leave it there. great information as always, david. thanks for joining us today. we do appreciate it. >> happy thanksgiving. ashley: all right, now this -- happy thanksgiving to you too, david. media matters, that's a media watchdog group, accusing elon musk's x of placing specific ads or companies next to anti-semitic content so, lauren,

what's mr. musk doing about it? lauren: suing media matters for defamation. he says they manipulated data to have ads appear next to fringe content, and that caused companies like ibm, for instance, to pull their advertising. and musk alleges media matters did so is with the intention of harming x. ceo linda yaccarino says there is no awe innocent thetic user that actually saw companies' advertisements next to such fringe content. ashley: all right, lauren, thank you very much. now this, coming up, democrat joe manchin may have his eyes on the white house, but senate democrats are warning against it. they say it would risk a california. going to get into it. then there's this, president biden says a hostage deal is near. watch. >> reporter: mr. president, is a hostage deal near? sir, is a hostage deal near? mr. president, is a hostage a deal near? >> i believe so, but i'm not

prepared to talk about -- >> reporter: you believe so? >> yes! ashley: well, you can't really make it out, but he says right there he's crossing his fingers. now the chief of hamas says a deal is close. we'll have the very latest from israel next. ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly.

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ask your dermatologist about cosentyx. ♪ ashley: now this, smoke rising from gaza, but there are reports that a truce deal could be close. trey yingst on the ground in israel. trey, good morning to you. or what are you hearing? >> reporter: hey, ashley, good morning. we do understand the final details are being discussed for a ceasefire deal that could end

the fighting in gaza a for up the five days. the leader of hamas overnight saying that a truce is near. i do want to show you the scene behind me, just to give you a sense of what it's like right now. clearly, no stop in the fighting at this moment smoke still rising from the skyline of gaza. reports do indicate though any sort of deal would include the release of dozens of hostages, expected to be only women and children who would be exchanged for prisoners being held in israel. we're looking at a 4 to 5-day pause and the potential of some limited drone activity the over gaza. it does come amid reports of intense9 battles in the strip. there are reports today the also that hundred of palestinian i'll januaries are stuck in the northern end nice hospital where dozens were killed yesterday. the idf has killed dozens of militants, also destroying three new tunnel shafts. all of this fighting take taking

place on the southern front as israel's northern front remains quite active will the a this hour. right now there are sirens sounding in northern israel. the israelis have been responding to renewed mortar fire and anti-tank guided missile attacks into the northern part of this country, striking new hezbollah positions and leadership. ashley? ashley: a all right. trey, great job, as always. thank you very much, sir. president biden, meanwhile, says he believes a hostage deal is very near. brett velicovich joins me now to talk about this. brett, what you hearing? >> well, it sounds like it may be coming close from what i'm hearing on the ground. it's great they're trying to release these hostages, but i think we all have to remember the point of israel's military actions in gaza lately is to so that we don't have more hostage situations like this. they've done these he'sage deals before, and it doesn't so this long-term -- solve this long-term issue.

there shouldn't be a scenario at all a where the hostages are exchanged for anything other than women and children. the goal here, again, is for no more hostages, you know, and for this organization of hamas to cease to exist. you may remember back in 2011 they did a hostage deal where they gave up 1,000 hamas terrorists for 1 israeli soldier, and what disease it lead to -- what does it lead to? morist attacks in the history. hamas took these hostage as as an insurance policy, but that backfired. it's not going to make it better for them in the long run to hold innocent women and children captive, so israel has to respond, they have to be over the top militarily and show strength so that in the end this doesn't happen again. i think the best case scenario is hamas releases these hostages, and treasured be a humanitarian pause -- there should be a humanitarian pause what it's monitored closely, maybe send an increase in the flow of aid to these civilians

where israel can insure it's going to get to the civilians, not hamas like usually happens when we start sending aid into israel. arkansas a ash there have been 64 attacks now on u.s. forces in the middle east since october 17th. now, are we doing enough to deter these attacks? how should we be responding? >> it's incredibly concerning, it's getting worse. i mean, 64 attacks on u.s. troops since october 17th, what does that the tell you? we need to protect our soldiers. it's just another indicator, in my opinion, that iran is actively targeting us through their proxy groups. the scale of these recent attacks couldn't have happened without iran's help. and people have always been concerned about this escalation between us and iran that could lead to war, but the american people need to realize that they are already at war with i. they've been at war with us for some time. i'm not so sure our leadership understands that, and we're not at a war with them. i've lost personal friends in iraq to iranian-made weapons,

iranian-made groups that have targeted us. we never attacked iran. in fact, we were specifically instructed in the to despite having a ton of information and instead focus on isis andal a al qaeda. but at some point we have to protect ourselves and do something. i think we need to start striking iranian quds force if officers and get them where it hurts the most because they are the ones that are controlling hezbollah, they're controlling hamas, they're dealing with, you know, working with houthi rebels in yemen which just recently hijacked a ship in the red sea and started taking hostages. 9 so you can see a lot of this turmoil and caicos in the middle east, it's -- turmoil and chaos, it's all a designed to hurt israel and our allies, and it's being waged by a war iran is taking against us using proxy groups, and it's clear they've only asked them to have more aggressive e and start conducting more strikes globally. ashley: a all right. brett, once again thanks for sharing your expertise with us as this story continues the develop can. brett, thank you very much. >> thank you.

ashley: i also wanted to mention this -- thank you. far-left protesters are now giving president biden a new nickname. they call him genocide joe. come in, lauren. what is the white house saying about that nickname? they can't be happy. lauren: no. and it is a terrible thing to be called. so the national security spokesman, john kirby, is making sure that people know this is inappropriate, and it's wrong, ashley. watch here. >> people can say what they want on on the sidewalk, and we respect that. that's the first amendment. but this word genocide's getting thrown around in a pretty inappropriate way by lots of different focus. what hamas wants, make no mistake if about it, is genocide. they want to wipe israel off the map. they've said so publicly, more than one occasionful in fact, just recently. and they've said that they're not going to top -- stop. lauren: ash/ -- ashley, i couldn't agree him more.

ashley: yes. lauren, thank you very much. taking a quick look at the futures, pointing to a slightly lower open when we get the session under way in less than seven minutes from now. the opening bell coming up next, stay with us. ♪ ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

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ashley: let's take a look at these futures pointing to a lower open, nothing too drastic. nasdaq down about half a percent. let's bring in david nicholas to talk about all this. david, we've been saying all morning nvidia reporting after the bell. this is a stock that's gone up, what, its value's tripled this year. what are you expecting in these earnings? >> yeah, ashley, there's a lot riding on this. wall street's looking for about a $16 billion in revenue, about $7 billion in profit. how good is that? a year ago it was about $6 billion in rev newark only $680 million in profit, so that's not just growth over the last year, that's absurd growth. it's something we haven't seen in quite a while, but the desperate's looking for what does data center revenue look like. i want to see is a. a.i. just a

fad or is the guidance telling us something more, that this is going to be a multiyear theme for nvidia. i think it will be. also autonomous driving, electric automobiles, that's another grow requesting segment for invidia. as a electric cars gain popularity, that bodes well for nvidia. our clients do own it, full disclosure, but we think there's some good upside here, ashley. ashley: what headwinds could you anticipate though invid what? obviously, it's a huge player especially as we lock towards -- look towards artificial intelligence and so on. are in any concerns for you? >> yeah, that's fair. what are the headwinds? geopolitical risks, in my preponderance. a lot of the data centers out of china, can capacity continue? if also if there's any issue with taiwan, if there's any exports where the u.s. government says, look, we cannot continue to send chips to china because of that, that's a big problem for nvidia. without that, nvidia's good.

geopolitical risks are, i would say, are the black swan event for nvidia. ashley: got about 40 seconds, david, but you say it's tonight if for -- important for people to pay attention to what's going on in argentina. interesting development, what say you? >> this is a huge free market win for argentina. invest last 100 years, they've chosen socialism. this has led to surging inflation, the worst economic crisis in the last decade, inflation up 140%. peso's down 90, why? because they've chosen socialism. what we're doing with our central banks are insane government spending, it's a warning to the u.s. this doesn't work. it hasn't worked anywhere, and if we continue down that path, we could be in the same spot at some point, aroundly. ashley: all right. david nicholas, thank you so much, david, for your thoughts today. the opening bell is up and here we go. we are getting off on the tuesday session of this holiday-shortened week.

we made some gains yesterday especially on the nasdaq, but we're starting a little lower today. the dow out of the chute down 62 points, about .2%. let's take a look at the dow 30, if we can. a lot more red than green. verizon and travelers on the top end, the laggards boeing and home depot. let's take a look at the s&p while we're about a it. the dow down 60 points, the s&p off about 11 points, down about a quarter of a percent at 4535. let's take a look at the gnat damage. that too -- nasdaq. that too down half a percent, down 71 points. and let's take a look at some of those big tech names. we like to keep an eye on these, of course, they do so much trade. most of them are down. alphabet though essentially flat, but apple down about .2%. meta, amazon, microsoft down nearly 2% in the early going. by the way, we had a slew of retail earnings this morning.

let's begin with lowe's. what did they say, lauren? lauren: they're all saying the same thing, ashley, they're talking about a cautious consumer. for lowe's home improvement, their popular do it yourself categories like decor and or flooring did well, but the big items like aa mineses did not, and appliances are 4% of lowe's overall revenue. their comp sales fell more than 7% in the quarter. ashley: all right. then we had best buy, the electronics folks. how did they do? lauren: we all the say beat and raise, well, this is the opposite is, a miss and a cut. their same-store sales for the year will fall about 7.5%. the stock is down 6.3%. they're talking about a consumer that is difficult to predict because of the economy, the overall economy. and they're being pulled in many different directions. ashley: that stock down 6.5%. let's talk about kohl's, the department store. lauren: same story. same store sales fell seven

straight quarters, down 5.5% in the past quarter. shoppers cut back. like i said, you take all of these stories together, but let's start with walmart. last week they started talking about deflation and cautious on the holiday season. and today lowe's, best buy and kohl's, a consumer is deteriorating, that's what they keep saying. that's what management is saying on the conference calls. ashley: that's not good. but on the other side of the owt of green for dick's sporting goods. yeah, look at that, up 8%. i'm assuming they had better news. lauren: experiences. so management is feeling good about the holidays. their same store sales rose 1.7%. and finally, a retailer raising their full-year view. the stock is up 8.33%. ashley: very good. all right. let's change gears here. china tech company baidu also reporting this morning. what do they have to say? lauren: china's google, if you will.

advertising income came in stronger. china is showing signs of recovery, and they have a lot of investment in artificial intelligence. their chat bot, chatgpt rival is ernie 4, and they have 70 million customers signing up to use ernie in just three months since launch. and they expect to generate hundreds of millions of yuan in additional advertising revenue because of the way that artificial intelligence can trigger the company to the product. unfortunately, the stock is down about 1.5%. ashley: i was going to say, none of that helping the stock today. but anyway, let's talk about artificial intelligence giving a boost to what? lauren: zoom. do you remember height of the pandemic, zoom shares were $500 each? now they're at a 62. ashley: a yep. lauren: look, they're moving in the right direction. they understand the pandemic and is over and people are going back to hybrid work. they have something called a.i. companion that launched in

september. they've got 220,000 users getting a.i. summaries of sam meetings -- zoom meetings. they have something called apt i. documents that is coming. zoom has nearly 4,000 customers paying $100,000 a year for zoom and and their products. now, the stock is down 5%, but they increased their full-year sales and profit target. ashley: it's tough, isn't it, when you get those analysts. all right, test talk about target -- let's talk about target. they're changing their checkout policy. lauren: cnn is reporting that they're testing making customers who have more than 10 is items go see a human cashier. okay. i guess that makes the lines go quicker. they're saying, you know, customers like to interact with our human workers, it's also easier when someone else checks you out. but are they also trying to stop shrink? we keep doing stories at the self-checkout we're noticing the five-finger discount.

it could be a little of that too. if you have 10 items and under, check yourself out no problem, if you have more than 10, go wait on line with a real cashier. ashley: it's interesting, we talked about that yesterday. i think they're trying to stop the thieves. all right, moving on. we mow that elon musk wants tesla in india, but the question is, how close is he to getting a deal done there, lauren? lauren: it seems close. bloomberg is reporting that india and musk are close to a deal to import tesla vehicles to india in 2024 and set up a plant in two years' time. the minimum investment would be around $2 billion to start. a lot of good news though for tesla today. registrations in china up 28% from last week. and the cyber truck is coming. the cyber truck will be delivered at the end of this month if everything goes according to plan. so there are a lot of catalysts for elon musk. ashley: a talking of electric vehicles, what's going on with

ev start-up fisker? lauren: i have no idea. i mean, another chief accounting officer resigned. ashley: right. lauren: so we're talking about two chief accounting officers out in, like, a month's time. because of this, fisker had to delay their third quarter earnings report. when they finally reported, it wasn't very impressive. the chief financial officer has to talk about all of this, if they're making excuses saying the third quarter was so complex for them because it was their first quarter of significant sales. they have a carr, an ev on the market, so they're december missing all of this as growing pains, but investors aren't. it's down more than 8% today. ashley: a right. investor s not buying it, apparently. lauren, great run-through, thank you. taking a quick rook at the big board if we can. the dow down just about 81 points, down a quarter of a percent. let's take a look at some of the winners in the very early going. there you have them, visa, verizon, travelers, mcdonald's.

merck up about a quarter of a percent. take a look at the s&p 500 winners, see who's doing well there. we have medtronic, fisher scientific up 3%,age hasn't technologies, they're up 9% this morning. and for the big tech names, tesla up 1%. lumina, they're up three-quarters of a percent as a you can see. segen up nearly 1%. so there are some of the winners on the nasdaq. coming up, president biden attempted to ache -- make a joke during the turkey pardon but it turned into this. watch. >> you could say even this harder than getting a ticket to the renaissance tour or britney's tour, she's down in -- it's kind of tbharm brazil right now. ashley: i think he means taylor swift who's down in brazil.

anyway, a majority of new york democrats say that the migrant crisis is a severe problem. no kidding. so what's the state going to do about it? new york congresswoman claudia tenney will take that on, she'll be here that talk to us -- here to talk to us. and hundreds of openai employees threatening to quit and join ousted ceo sam altman, so where do the chips fall on all a of this? we have a report next. ♪ just like clockwork. ♪ what if i told you i'm a mastermind? ♪

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♪ ashley: a now this, microsoft's

ceo,th satya any della, says he is open to sam altman returning to opena a i. well, this comes as employeeses at openai are now threatening to quit over altman's firing. what a mess. susan li joins me now. susan, where do we stand right now as all of this drama unfolds? >> yeah, there's a lot of drama because you have openai management trying to keep the company running and their workers from quitting. you have virtually all of openai's 750 staff signing a letter asking for the board to resign. and sam altman brought back on and back to the company. now, i got ahold of this letter which was pretty kate ising and angry -- scathing and angry, and they wrote to leadership writing: your actions have made it obvious that you are incapable of overseeing openai. we are unable to work for or with people that lack competence, judgment and care. now, openai says that

conversations are still ongoing with altman. microsoft's ceo satya nadella has been speaking out and says he's open to altman returning to openai, and that's after he announced yesterday that microsoft hired altman and former openai or president if greg brockman to head up microsoft's new a.i., their new research team. satya does say that governance if needs to change at a openai which is a bit unusual since it is owned by a nonprofit. but then it operates a for-profit arm that makes money off chatgpt and other products that they make like dolly. microsoft is the largest investor in openai, private investor, along with venture funds like thrive and tiger global. now, those three, other three besides microsoft are still reportedly trying to wrangle and pressure and bring sam altman back to openai after friday a's shock firing. meanwhile time, you have reports

that investors are suing, accusing the board of destroying investor value by unilaterally firing sam altman without any consul consultation. as for altman himself, he and satya are focused on openai continuing to thrive. companies are taking advantage of the chaos, salesforce's ceo saying he'll hire any openai researchers that want to quit and work for him instead. ashley: what a mess. >> yeah. ashley: a i have a feeling we haven't heard the last of this. susan, thank you finish -- very much for that run through. ray wang joins me now. you're probably shaking your head, you say that satya nadella saved microsoft's stock by hiring sal. altman, but he says altman could go back to openai if he wants. make your case on all of this. [laughter] >> in any case what happened is you look at openai's valuation, it's about $90 billion. satya, by actually bringing both greg and sam back to microsoft

if actually was able to bring $80 billion or more of market cap back into his stock after the calamity on friday. so in any case, he's got to protect that investment, and that's what he's doing whether sam and greg going back to openai saves the company, protects the 49% investment there, or protects the stock price which is the biggest thing on his mind after he's frying to go after apple -- trying to go after apple in being the most valuable company in the world. ashley: very quickly, ray, you must have been shocked as everyone else when this whole thing blew up late friday and then into the weekend. does this thing eventually settle down and get back on track? >> i think in the long run, yes. basically what happened was that tussle between should we go fast enough, can we commercialize versus are we doing safe and responsible a.i., that's what the board has to figure out. the governance structure doesn't put that together, and i think that was the challenge. it's been a long weekend, a long week talking to folks over there trying to figure out is he staying, is he leaving, what's going to happen to the company.

ashley: yeah. well, as we say, more to come on that. i want to move on. the all-important nvidia reporting after the bell today. what are you looking for? what are you expecting? >> yeah, i think the biggest thing really is the data center revenue. we're looking pebbly at 3.6-4x increase in revenue right there, and that's what's been driving the stock price. the stock has been up 245% since the beginning of the year, there's massive demand for gpus. we're going to see that the h200 chips are taking hold, replacements for the h100, the power chips that actually allow a.i. to happen. everyone's picking those up in order to build their a.i. and their data centers. the growth in data centers and gaming, but it's the partnerships that's really driving nvidia. they're making a lot of strategic partnerships whether it's drug discovery, designing automobiles, identifying stuff in crypto, building stuff out in other a.i. partnerships, that is really what's driving their future growth. i'm watching those partnerships as a good indicator of what to expect going forward,

partnerships with dell, with other companies as well. ashley: fascinating stuff. it's a juggernaut in that space, there's no doubt about it. ray wang, great9 to talk to you. thank you so much, as always. by the way, the commerce department just made a big investment into chip, and we're not talking about the type that you eat. what are they doing, lauren? lauren: although i am hungry. new term, it's chips packaging. it's essentially the stitching together of different types of chips for cars or missiles that makes them more powerful packaged together. this is something that china is doing successfully. beijing now controls 38% of the chip packaging market. u.s., i think, is at 3-5%. so the u.s. wants to prevent china from getting even bigger, so now the white house is investing $3 billion to support our chip packaging industry is companies can apply for federal grants, ashley. ashley: all right, lauren, thank

you very much. coming up, thanksgiving only a couple of days away now, and many are hoping to avoid situations perhaps like this around the table. roll it. >> i pledge allegiance to the flag of the united states of america, and president toe e rick -- and to the republic for which it stands. >> one nation, under god, with liberty and justice for all. [laughter] ashley: how much do you love "christmas vacation"? anyway, a healthy dose of zip it will be on the menu, that's the hope, 60% say they would rather not talk about politics over the holiday week. good luck with that. poem also a gearing up for the holiday shopping season. retailers bringing back discounts not seen before the pandemic. we're looking at where the best bargains may be next. ♪ -- letters to santa claus. ♪ and if i'd surely like to get my hands on the fella that said

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ashley: black friday. thanksgiving, of course, just two days away which means fast approaching that black friday and all the deals. madison alworth joins me now from fox square. madison, what kind of deals can shoppers expect to see this year? >> reporter: ashley, you know, we have all the sales that people have come to expect, electronics, clothing, things like that. but what's different is they don't have to wait until if black friday to get in on those sales. we're seeing retailers offer a sales way earlier. amazon, best buy, they started their black friday sales on november 17th, a week ago. just two days later target started offering their deals, all of this trying to bring the consumer back to the stores during what should be the busiest time of year for these retailers. when you take a look, you're really seeing a hesitant consumer. they're willing to spend on experiences, but these big box retailers, they're desperate to get them back through their doors or onto their web sites. we're seeing disappointing

earnings and stocks reacting aa cordingly. it's the busy shopping season, but last quarter we saudis appointing results. lowe's, best buy, kohl's all falling on the news k and this all just days removed from walmart providing a soft outlook on guidance, not what you want to see for that retailer this time of year, causing the stock to fall more than 7% this week. retailers are sounding the alarm on the health of the consumer, so we asked people what they're looking for and if they plan to spend this holiday season, and what we heard from those consumers, sales are everything. if there's a good sale, they'll be there. they're going to choose their retailer based off of that. ashley? ashley: happy birthday to you, madison, as well. have a great day. still ahead, patrick dehaan, brian kilmeade, jimmy failla and new york congresswoman claudia tenney. happy birthday to you, madison. the 10 is a.m. hour of "varney & company" with all the a balloons is up next. ♪ ♪ i didn't know that i was

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