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tv   Varney Company  FOX Business  November 21, 2023 10:00am-11:00am EST

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ashley: the great swedish band aba. arena sitting in later today. rain is heading in later today. let's get to your money. look at the markets themselves, down slightly, erasing some of yesterday's gains, the dow and the s&p down 12:45%. the 10 year treasury is languishing 4.40, down a couple basis points. the price of oil is moving lower. let's look at oil. opec meeting in the next five days, crude down 77-44.
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bitcoin is down $974, 36,600 and change. we got the latest read on existing home sales. the number please. lauren: it is a 13 year low. seasonally adjusted annual rate of previously owned homes came in at 3. 79 million. the expectation was 3.9 million. we are down five months in a row. this is the lowest we've seen in 13 years in terms of the homes people are buying. ashley: people got an ultra low interest rate and people can't afford mortgages at current rates, just a bad mix. the housing secretary -- lauren: even if the price is falling a little bit it is around 400,000 for the median sales price. that's unaffordable with an 8%
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interest rate for a lot of people. ashley: thank you very much. look at this. more than 60% of trump primary voters say there is some chance they would support a candidate other than trump in 2024. jason chaffetz joins me now. make sense of this. this is one paul that could not be good for trump but i don't understand it. >> i don't know that i have seen many polls that haven't been good for trump. he is so far in front at this point. i do think most would agree he has a solid base of people who want trump and nobody else, that's the biggest challenge to the party. one thing that does unite republican voters is they just want to win. they don't want to lose. who is the strongest candidate
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going into the election? donald trump is out there. ashley: a reporter at cnn was stunned by biden's recent polling numbers. watch of this. >> look at this, these numbers are bonkers. if we look among those 18 to 34, democrats, 24% of democrats under 35 approve of his job performance. compared this to democrats over the age of 65. 77% approval. i've never seen an age gap like this in politics. ashley you think democrats will stand by biden in 2024? >> maybe thanksgiving would be a good time for the biden family to reconsider running again for another four more years. i don't know he has 5 years of
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gas and him to get to the finish line. even democrats and others have been saying it is a bit selfish for him to continue on. when you have democrats telling you -- tell your democratic president it is time to hang up the cleats maybe that's a good time. i have long procrastinated, or prognosticator did they would find a new nominee and president biden would step out by the end of the calendar year. i still think that's the case. i think he could say i did it, i served but time to pass the baton. ashley: it is becoming more likely. it is not a deep bench for the democrats but we always mention gavin newsom as the legitimate option. >> i would never vote for him. for a democrat they think he is the slick guy. he wakes up every morning, looks in the mirror and greets
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himself as mister president. he's that egocentric but they don't have policy to run on. the problem for biden or newsom, let's all be like california, you think that's going to sell? ashley: it certainly isn't but i wouldn't put it past him, he seems proud these days. terrific stuff. have a great thanksgiving, appreciate it. senate democrats morning president -- morning joe manchin, what are they saying? lauren: they worry his potential independent bid would take votes from president biden ads that would lead to what some senate democrats call a nightmare scenario of a donald trump victory. they are warning manchin he will face incoming attacks from the left and the right. everyone attacking him at the same time to weaken them at the
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polls. joe manchin is giving a gift to republicans. he could take votes from biden but he could also give his blue senate seat to republicans, he is in ruby red west virginia. ashley: all right, yes. thank you. back to the markets and your money. we've shown since "the opening bell" we've been down a little bit, waiting for fed minutes this afternoon. nvidia's earnings report after the bell. scott shelladdy. are rate cut in the near-term? what say you? >> the answer i will give you is i would like to smoke what they are smoking. it will be difficult. they are moved to a 30% chance of a hike in march.
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the hope index, i am paraphrasing, but hope, homes in a recession, manufacturing orders, declining, corporate profits are decelerating and the ee is employment and that is starting to show signs of cracking get. those are big parts of the economy. something everyone keeps looking at, our treasury secretary. the cumulative effects of what inflation does to the consumer. 3.2% was the last read in november, that higher in prices than this time last year but last year we were 7.7% higher than in 2,020 one. like money in the bank that has cumulative compounding interest.
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we have cumulative compounding inflation, 25% higher the last few years. you can go to the grocery store. that's the number one killer of consumers, the cumulative compounding affect the government can't do anything about. it is going up at a slower pace. the direction is wrong and is going up slower. that's the problem. there is no way to make the message better except inflation is coming down. it is not. it is still going up at a slower pace. ashley: what about the debt people are getting themselves into? that's an issue. with a that in mind, what are your predictions for holiday spending? >> $960 billion being spent. that will be a lot of money. they might put more on the
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credit card. over $1 trillion as far as the country goes. this debt is getting to a point that is devcon 5. we've now got if you look on an annual basis, over a trillion dollars. over a trillion just to service the debt we've already taken up. that's in effect on interest rate, and $8.6 billion a day, or $860 billion in the next quarter. that's just to pay our bills and that, and it is unelectable to go to washington and say i will cut spending, kind entitlements to bring everything down because we are going broke. no one is going to win an
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election saying that, you will win an election by saying i will give you a free ipad or iphone to everyone in america. ashley: devcon 5. now i am scared. enjoy your self in nashville. have a great country thanksgiving. thank you. you are looking at some of the movers this morning. lauren: they got an upgrade, oppenheimer is going 28 to $40 a share. real-world customer benefits from artificial intelligence. american eagle, raise their annual revenue forecast, optimistic about the holidays. they are getting caught up in the retail selloff we are seeing, very few exceptions. one is burlington that is a winner, it is off-price, stronger margins lead to stronger earnings. it is 40% today.
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ashley: what is this about more strikes on the horizon for airlines? who should be on strike now? lauren: they asked for permission to strike. they will get that permission before christmas but this does not mean a strike as in an actual walkout is happening. that is one potential strike. the second is the pilots at southwest. they are looking at american airlines pilots with mega raises. they say as they fly more, have longer hours and are required to work. the reality of another pilot strike is slim because federal law demands a month-long cooling-off period and congress or even the president, if it is
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deemed to hurt the economy, strikes everywhere, workers want more money to cope with rising prices that is increasingly near. ashley: thank you very much. did you know your google searches can land you in trouble with the law. we will tell you how it can happen to you and how to prevent it. benjamin hall returns to ukraine for the first time since being seriously injured. he sat down with president zelenskyy for a one on one interview you don't want to miss. several communities in california fed up with violent crime, pointing the finger at progressive district attorneys, trying to get rid of them. we speak to a sacrament county sheriff all about it next. ♪
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>> reporter: to shut down these homeless encampments saying they are dangerous for the people in them and around them. it is also an admission that they are spend first and so-called compassionate solutions have failed. in these partisan times we found an issue conservatives and liberal politicians could agree on. this is one of them now the liberals have changed course, homeless and cameco spiraled out of control throughout the west. one of the reasons is the court of appeals ruling in 2018 which was reinforced by a second opinion by that court that prevent cities from enforcing camping bands unless there's shelter space available for every single person in that city who is currently homeless. the appeals court called removing someone from an illegal and cannot on public property cruel and unusual punishment. here's what san francisco mayor london breed said in a court brief.
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the city cannot feasibly have shelter for everyone and this from california governor gavin newsom, another democrat, they indisputably threaten public safety and health, something conservatives have been saying for years as democrat run cities spend billions on failed programs. >> people from different parties are saying they need a level of enforcement to go with housing, rehabilitation, to make that spending more effective. >> reporter: leaders in los angeles, portland, san francisco, and seattle are asking the supreme court to overturn the circuit court's ruling to give them the ability to enforce camping bands. portland officials that only a fraction of their homeless will accept their shelter but advocates for the homeless hope the supreme court decides not to take the case. >> if you raid and encampment, just move people out of that
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encampment, whether you put them in jail, voluntary replacement, none of that is homelessness. >> reporter: it is possible scotus will decide whether to take this place early next year. ashley: many communities in california fed up, attending to recall several liberal das as crime surges across the state. jim cooper joins me now. great to have you on. how much of a problem have progressive das been? kid we see some of them recalled because of the surge in crime? >> it was passed by the voters in 2014. voters were duped on this, that's the big issue, changing the law, has to go back to the voters.
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ashley: talking about proposition 47, and the misdemeanor instead of a felony. why is it now coming to the forefront as a huge problem? >> it got so bad. in california, it is going to be all day every day. you can do that 20 or 30 times in one day and that's the big issue. big-box retailers taking record losses and they have a way to change the law through initiative back to the voters. so far they have been too cheap to do that. ashley: the california retailers association hasn't been happy with you speaking out publicly on social media, saying instead of doing that, you should sit down with the retailers. how do you respond?
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>> talk to them for many years, they haven't changed their stance. the initiative on the ballot in 2020, they put in 2 million. retailers made a lot of money, shame on them for not getting involved to change the law. the new norm is walking into the store the covered in taxi glass and pushing that button. that's not okay. stealing is not okay. ashley: it is getting worse. what do you do with smash and grab groups that run into a store, grab everything and run out? that is very difficult to stop, isn't it? >> it is difficult to stop but the air of lawlessness. we got to change that mindset.
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citizens are frustrated. i believe where the tipping point was. ashley: you certainly made this issue, brought it to the forefront. thanks for taking the time to talk to us in sacramento. come back in here. what is this about your google searches that could get you in trouble with the law? lauren: search terms as well as your location. law enforcement could get warrants for both of those. you could be completely innocent, totally unaware the crime even happens but you could be on the hook for committing that crime. google is a great tool for solving crimes, allows police to figure out so and so is here and when they were there they had to search google how to
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whatever but this is terrible for personal privacy attempts. keep your google location turned off, delete your searches repeatedly and try to use incognito to keep your data to yourself. they would need a warrant, they can't just get all this information but they dues at times get what they need and innocent people can get caught up. ashley: i don't think we have any privacy left but we do the best we can to prevent people from snooping. gas prices could hit the lowest thanksgiving level in years but will they stay down? and the holiday could prove to be the busiest travel season ever and the weather is going to add to the chaos. jeff flock has a live report at philadelphia international airport next. ♪
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ashley: look at these markets. we are waiting for fed minutes, could move the major exchanges. nvidia after the bell reporting earnings but the dow, the nasdaq, 1%, s&p down 1%. 39 points. looking at the other movers. telecom argentina. lauren: the libertarian won 56% of the vote. he you wants to cut the debt, inflation is 140%. the argentinian markets were closed for a national holiday. argentinian companies up, telecom argentina is one of them up 9%. investors saying the new guy can come in and help us cut our debt and strengthen our currency, that could be a good
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thing. moderna is down after patent challenge in europe and pfizer, copy there covid vaccine technology. abercrombie and fitch, popular again, they had genes in every size and shape, stock tripled this year. there holiday season is tepid. one final point, stocks are going today. we are riding a 5-day winning streak. ashley: we were up three weeks in a row. i'm a bi. always. now this.
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55 million people expected to be on the move but storms could create havoc for some of those travel plans. jeff flock at philadelphia international airport. give us the latest. >> calm before the storm. the worst possible time for a bad storm, the busiest thanksgiving travel holiday in terms of air travel, look at the number, over the long thanksgiving weekend. 4.7 million travel by air, putting aaa at 6% from last year, the department of transportation says it will be the busiest air travel thanksgiving in history.
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the storm is a big one up the eastern seaboard, not here at philadelphia yet, it is busy but not overwhelming. not so many cancellations but a lot of delays. we talked to aaa and here's how they put it. >> the planes are there, the people i there, just a matter of getting where they need to be. there should be some delays and that would be unfortunate. that will be a situation that will be short-lived. >> reporter: if you look at the misery map, not so much misery, 19 cancellations last time i looked at it.
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we had 400,000 delays, you may not get there when you want to get there. ride a bike. ashley: might be you wet in the storm at, always a way to make it happen. look at the average price for the gallon of regular gas. that's the national gas average. we could even see the cheapest thanksgiving day prices since 2020. gas prices falling but could lower prices stay down or will they stay down? that's the question. >> with opec meeting later this week they could put the kibosh on falling prices. don't expect them to rally a whole lot, time to hit the road, gas prices at the lowest,
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the longest decline since summer of last year. 47%, about a 7% increase on monday, gasoline consumption compared to the prior monday but the method on how they do it, more americans suggest they are interested in the last year but a lot of folks getting on the road in their internal combustion engine vehicles. in light of low gas prices, they turned to internal combustion engine vehicles. ashley: there is not the infrastructure in place. with rage anxiety, i made a note that gas has fallen below $3 a gallon and a number of states especially in the south. is that right?
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>> it's not going to be hard for motorists to find those prices, 13 states the last couple minutes. kansas falling below that, 13 states on average below $3 a gallon. we can see mexico, florida and north carolina joining those ranks in time for thanksgiving as it is not hard to find a 299 or lower pricing, 65,000 stations selling it at 299 or lower. ashley: what opec is going to do. they meet on sunday. they can't like these lower prices so we could see these prices move up depending on what opec does. >> there is the risk the saudi's are opec could have salacious comments that drive oil prices up, don't expect them to give market share back
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to venezuela developing economies, don't know if they are going to cut, they are up against a hard point. maybe they will extend existing cuts. ashley: best time to leave for thanksgiving. what do you say? >> wednesday afternoon. how most americans will hit the road, probably at night, wednesday night, fairly light as well as thursday morning. ashley: good advice. have a great thanksgiving. one gas station, who is doing it and how much is gas going to cost? >> one dollar $0.99 for the ee 15 blended. through monday, you have to live in pennsylvania, ohio, north carolina, virginia, or west virginia. happy thanksgiving to those who
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can score gas for $102. as you noted before, the national price is well over $1.99 but it is getting down. ashley: thank you very much. now this. a biological male switches to the female swim team and breaks the school record. we have that story coming up. 38% in new jersey were proficient in english last year. some schools are going back to the basics to get students back on track. lydia has the full story next. ♪ ♪
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ashley: nikki haley is making a push for a tiktok band. lauren: she says tiktok is a tool for inflation -- influence. if you explain that to teenagers they will level with you. >> we need to be honest with the. don't tell them this is what we are going to do and not explain why. the reason we want to ban tiktok and we need to ban it it is an apps that goes and has access to your contacts, financial information, your camera, your recorder, to everything. it is infiltration. we know that. this needs to be told to the american people. i think the younger generation is smart, they will understand this when we explain it to them. lauren: i disagree. most americans especially teenagers do not care about their privacy.
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remember the usama bin laden letter that went viral and there was support for it by americans on tiktok? that could change teenagers opinions, leaving young people vulnerable to misinformation by a chinese algorithm. if you level it that way they will say okay, this is bad, shouldn't be getting news from this device or this platform. ashley: other than that, i don't think we should be paying attention. now this. senate democrats just subpoenaed the ceos of 3 social media companies. which ceos and why? lauren: online child sexual exploitation. lawmakers want to make sure it's not happening online. comedies are x, snap, and discord. looking at the ceos, discord's jason, all subpoenaed to testify december 6th, the
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senate judiciary committee, the woman on the right is the first trip as ex-ceo to capitol hill and i say good luck. ashley: i'm sure she's looking forward to that but we told you how school closures have a damaged impact, we are learning how devastating wearing a mask was. lydia is at an elementary school in new jersey, that's the question. how damaging was wearing a mask for kids? >> i will let you answer that question for yourself and also get some insight from this great room of fourth-graders. tell me, is it better in the classroom with mask on or ask -- mask off? >> mask off. >> there you have it, no denying it. wearing masks and being forced to learn from home really set
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all our young people back in this country. we can look at the national test scores because right now, one of 3 fourth-graders cannot read at a basic level. it's a problem forcing states to confront the issue head on. a number of states have adopted something on the science of reading, getting back to the basics, focus on the phonics to teach literacy like this. what sound does sh make? words start with sh. shop, sheet, shout, so there is, back to the basics education. the school here at lincoln elementary is training teachers of the third, fourth, and fifth grades to teach phonics because we have to remember those students are sent home to learn during covid. >> i have a third grader in my class and they can't read, what do i do?
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those skills are not what fourth grade or fifth grade teachers need to know. >> reporter: that training is ongoing. it happened today for the teachers, talking to these kids, couldn't be happier to get back in the classroom matt tackling education, no doubt their future is bright. send it back to ash. you are a natural. elon musk is suing media matters after they claimed x was showing ads to anti-semitic posts and attorney general investigating left-wing group to helping dealing business. brian kilmeade on that next.
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did you know people with psoriasis on the scalp have a 4 times higher risk of developing psoriatic arthritis, which if left untreated can lead to permanent joint damage? cosentyx works on all of this and helps stop further joint damage. talk to your doctor. find something that works for you. serious allergic reactions. severe skin reactions that look like eczema and an increased risk of infections, some fatal, have occurred. tell your doctor if you have an infection or symptoms, had a vaccine or plan to, or if ibd symptoms develop or worsen. cosentyx. still workin' for me. ♪see me♪ find relief that can last. ask your dermatologist about cosentyx. adam: ashley: it is coming up to 10:51. brian kilmeade never takes a day off, works 23 of 24 hours
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and make something else happen in that extra hour. elon musk's x launched a defamation lawsuit against media matters for america, showing anti-semitic posts next to advertisements, and advertiser ex-otis. x otis. texas attorney general ken paxton opened an investigation into media matters for fraudulent activity. do musk and texas have a case? >> reporter: a pretty strong case. i salute ken paxton for doing this. is a despicable organization that creates havoc. elon musk has the wherewithal, he doesn't care. he will bring it on. when he is done, twitter has been quiet on this channel. matt taibbi and barry why is taking place during the last of additional last election cycle and through the pandemic and
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elon musk saying you're trying to destroy me? let's go through this. filing or thermonuclear lawsuit in one of his lines was i cannot wait for the discovery. it is going to be great to see the discovery process on media matters, what the agenda is. he loss ibm, apple, lions gate, paramount on what he calls x because of what they say is anti-semitic posts that could be litigated at another time. the missouri ag, i love it. ashley: go right ahead. i could say the same thing. in new jersey a lot of back lash after they congratulated a transgender swimmer for breaking the women's record, that post has been deleted. a spokesman for the college said the school continues to
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support all their student athletes adding the post was, quote, deleted by a peer who wanted to protect a teammate from insulting comments on the post. here's another example of this. this cannot be right, can it? brian: this swimmer, she was a man, swam for the men's team, average at best, decides to become a woman and celebrate that she set a butterfly records. i want to know who came in. every time a man comes in a race i don't want to see the top three, i want to see the top four, top four get metals. you beat these records, roger marist played 162 games instead of babe ruth playing one hundred 54. he had the record, 61 homers. keep that in mind with the women's record to. . i don't have anything against
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this woman at all. but just don't do that to women. i worry about getting into soccer, we see horrible things in la crosse, they are too big and strong. don't women's rights matter? ashley: how would you feel if you were a young lady competing at the top level, hoping to become a name in the state and perhaps nationally and then out the window because someone decides they want to be another sex and dominate your sports. it cannot be right. brian: it will be litigated in 2024 and for the longest time it was the me too movement, they've been taken advantage of for years, we see people going to prison and being canceled, when you stick up for women now everybody goes silent. some republican candidates are saying that's not okay with me. if you have a daughter you
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should relate to this if they tried to get that level of sports. it benefits the individual. back to contact sports, you put a man who decides to be a woman in the contact sport or lacrosse with field hockey. people's faces are getting shattered and the video a couple weeks ago. ashley: absolutely right. thank you so much. brian: thank you. ashley: appreciate it. claudia tenney on the back lash new york city mayor eric adams is getting for cutting the city's budget. jimmy thaler on president biden refusing taylor swift with britney spears. and abby horner check --hor --hornicek will talk about her
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special with rob lowe. the 11:00 hour of "varney and company" is 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. hi, i'm ben and i've lost 60 pounds on golo. (guitar music) with other programs i've tried in the past they were unsustainable, just too restrictive. with golo i can enjoy my food and the fear and guilt of eating is gone.
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>> i think that they actually have to start having the conversation that david axlerod has keyed up, several other sort of serious-minded democratic

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