to the influencers and created the limited edition which creates fomo, fear of missing out. you want to be part of the group that gets those and then, by the way, crypts a huge secondary market, people are i buying them to resell on ebay, and it creates lots of interest in the brand. a little bit challenging to keep that that going long term, but a great initial strategy. cheryl: james, they just arrested a woman because she had a bunch of them she had stolen and put in the trunk of her car. [laughter] >> so hot right now. is the nhl getting a cut of this? cheryl: i know. there's the car with all the stolen stanley cups. yeah. >> what more can you say about stanley cups? biggest trophy in professional sports. [laughter] cherls -- cheryl: guy, thank you so much. happy friday, everybody. that is up for me but, obviously, not -- we're going to keep on rolling. stuart first take it away. stuart: yeah, we're just getting started. good morning, everyone. the republicans toyed with the

idea of making donald trump the presumptive nominee. that was a thinly-disguised suggestion that a maybe nikki haley should drop out. not so fast, says trump. i want to win the old-fashioned way, at the ballot box. haley wants to debate trump in south carolina before next month's primary, and she's raising money to stay in the race. on the other side, president biden gave a speech playing up bidenomics, but he slurred his words. his delivery was not strong. his message really didn't get through. not good at messaging. to the markets. again, we have a big name stock that's sinking fast. it was tesla yesterday, it's intel today. they gave a weak outlook, and the stock is down, what's that? 9.8%. that's quite a drop. moderating inflation, 2.6% on the inflation gauge the fed watches closely, kind of moderating a little. the dow going to be down just 9 points, s&p up 1, nasdaq down 44. so not much change and in the much impact from the inflation figures.

bitcoin is back to $41,000 or at least it was a moment ago, $41,015. treasury yields moving up after that inflation number and some personal spending numbers as well. 4.12 on the 1046 years, and the the 2-year, that's at 4.34. if oil, down but still at $76 a barrel. no change for gas, your national average for regular is $3.10. no change for diesel at $3.99 1. let's get to politics. standoff at the border today. is the -- today is the deadline for the removal of that razor wire. governor abbott says, no way, not happening. the migrants are under discussion in d.c. as well. the border deal in the senate likely to collapse after trump declared it meaningless are. that's how a surging trump is affecting congress already. the president has delayed approval of the giant nat gas export facility in louisiana are. this may be the end of any new nat gas export terminals. that's a big win for the greens,

a big loss for consumers. on the show today, parents giving financial help to their adult children, six out of ten parents do it. the american dream is alive if mom and dad help you out. and we're going to tell you about the irish exit or the irish good-bye. that's when you leave without telling anyone. that's what i do and, apparently, it's good for you. friday, january 26, 2024, "varney & company" is about to begin. ♪ ♪ what you say, oh, that you only meant well. ♪ well, of course you did ♪ muck. stuart: oh, okay, i think i get the connection. the biden mumble, so our produce possessor are playing that up. you can tell it's raining.

rain on the camera lens, you see that? it's an awful day in new york. let's get started this friday morning. let's get at it. we're going the starts of course, with politics. president biden was in wisconsin yesterday touting bidenomics. he says people are finally starting to feel better with about the economy. but once again he stumbled through his speech. what happened? lauren: this is getting so hard to do. we're doing this story over and over again, and it's getting worse -- stuart: i feel like i'm almost piling on, and i don't want to, but it's something you have to report. lauren: because they're not gaffes anymore. it's one thing for trump to say nikki haley, when he met nancy pelosi. i have no idea what president biden tried to say in battle ground wisconsin yesterday. he was there to promote if his infrastructure law. he went to the a meet and greet and said this -- >> beer brewed here, it is used to make the brew beer -- [inaudible] thanks for the great if lakes.

[laughter] lauren: were they cued to respond to what he said to the crowd? i have no idea what he said. stuart: i don't know what he said. lauren: incoherent mumbling. not a gaffe anymore. stuart: and that's the president of the united states. on the campaign trail. lauren: and it's the second time we've cone this story this week -- done this story this week. stuart: the rnc was seeking a resolution to declare president trump the presumptive nominee. he says he wants to beat nikki haley the old nationed way. -- old-fashioned way. the rn if c wants her to drop out. so it seems. should she? >> no, i don't think that she should. is she going to win the nomination? it seems pretty obvious that she is not, but she she has the right to stay in the race for as long as her money is going to allow her to do so. and i think trump is right to approach this way that he has and calling for a competition and saying i want to beat her the right way.

we don't want to become the democratic party which has essentially forced joe biden and kamala harris onto their voters despite the fact that 70 plus percent of democratic voters think that biden is too old to run for re-election and despite the fact that kamala harris has uniquely unpopular ratings among democratic voters. but they've decided that they're not going to allow any primary competition in the democratic party. so republicans, we don't want to become that. it should be a fair competition. it should be every man for himself and, obviously, trump is on top right now, and i don't see that changing. but if nikki haley wants to continue to challenge that, she should be able to do so. stuart: well, kaylee, there are some people that think nikki haley is just holding out, waiting, hoping that trump is disqualified and then she is the lone survivor. do you make anything of that? >> i agree, absolutely. i think that her donors who are mostly democrats at this point or independents who strongly dislike trump are waiting for

something to happen in one of trump's cases. they are hoping that something were to happen and he would have to drop out and she would be the only person left. now it's the really a question of whether she has the war chest to make that happen because it's not at all clear what the timeline on these specific cases is. he's obviously appearing in court, but whether there's a verdict before the november election remains to be seen. so it's a long shot for nikki haley regardless and and not one that's likely to sit well with republican voters. stuart: understood. now nikki haley wants to debatend donald trump. i don't think that's going to happen, do you? >> no. he hasn't shown up to any of the previous debate, and at this point, why would he? if he's beat her in iowa, in new hampshire, he's going to beat her by 30 plus points in south carolina, most likely, her home state. so for him to get on a debate with stage against anyone but joe biden would be pointless. stuart: kaylee mcghee white, always good, see you soon.

naval hi's campaign says she hauled in a lot of money since the new hampshire primary. i. lauren: since tuesday -- tuesday, more than $4.8 million and more than a million right after trump posted anybody that makes a kicks to bird brain -- contribution to bird brain will be permanently barred from the maga camp. haley welcomed all this. he posted, well, in that case, donate here, and donors did. former trump support ors actually gave to nikki haley. a major doe no, reid hoffman, linked inn founder, he says nikki haley, i'm with you, but until you can demonstrate the math and the path to victory, not donating any million. stuart: and i'm not sure you can. lauren: that's the problem. stuart: unless trump's disqualified -- lauren: that's the problem. let's see how long her war chest lasts. stuart: let's have a look at the market. dow's down 50,as 70. kenny polcari with us now. i want to talk about the tech rally.

microsoft and nvidia account for half of all the gains in the stock market so far this year. now, that's market concentration, and it's extreme form. do you see it as dangerous in any way? if. >> well, look, it's only dangerous if everybody jumps into those two names, then it becomes dangerous. i think what you have to worry about as a long-term investor, not worry about, but what you have to think about is, okay, we own those names, i own them in a portfolio or my wealth manager owns them in the portfolio, so i'm predicted there. i'm okay. -- protected there. i need to start to think about a broader, diversified portfolio that's going to weather the storm. so is, yeah, you should not get caught up, as great as it is, and we own both of them and it's great, but you can't get caught up in just those two names. stuart: now, the big tech stocks this week have largely moved up. it's been a big tech rally. next week we get their earnings reports and the market's gone up in advance of those earnings reports.

so what do you expect to see? >> so here's what i expect. out of asml, we got great news. out of taiwan semi, great news. and that suggests we should then hear great news coming out of the big seven and the oh tech names that are going to report. now, here's the deal, is it going to be as strong as both taiwan semi and asml made it sound? if it is, i think the market has more room to go. on the other hand, you could have that buy the rumor, sell the news type of reaction where you'll get the trader types that'll be locking in these profits that we've seen in these names. but as a long-term investor, that's not going to change my mind at all. i'm not selling any of the names they own even if they go up further or they go down. i'd buy more on the way downing i'm not setting -- selling on the way up. stuart: next week is a test of big tech. that's -- a.i., that's what this is all about a. >> that's exactly right. stuart: and and they'd better not disappoint.

[laughter] >> i don't think they're gonna disappoint. stuart: okay. you're on tape saying that -- [laughter] so this time next week, kenny polcari, you're all right. have a great weekend. >> have a great weekend. stuart: you got it. coming up; james carville has a warning for the media over their coverage of trump. roll it. >> stop treating him like he is a normal candidate. there is a chance that trump could win this election. and the way that he wins is he's treated as a normal candidate. stuart: i already know that tammy bruce is fired up. she's going to react to precisely what james carville just said. to the border battle, the white house is not ruling out federalizing the texas national guard which could mean a direct clash between the border patrol and the texas national guard. that would be a clash. where does texas congressman pat fallon stand on that one? he's here and he's next. ♪ ♪ ♪

(fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) how so? (fisher investments) we're a fiduciary, obligated to act in our client'' best interest. (fisher investments) so we don't sell any commission-based products. (other money manager) then how do you make money? (fisher investments) we have a simple management fee, structured so we do better when our clients do better. (other money manager) your clients really come first then, huh? (fisher investments) yes. we make them a top priority, by getting to know their finances, family, health, lifestyle and more. (other money manager) wow, maybe we are different. (fisher investments) at fisher investments, we're clearly different.

stuart: it's friday morning. here's how we're going to close out the week with, or on the down side. at the moment, the red ink is not flowing that fast, down 70 on the dow, 80 on the nasdaq. today's the deadline for texas to give back control of the border to federal authorities. jacqui heinrich at the white house. does it look like either side is going to back down? >> reporter: not at this juncture, stuart. we don't really know what's going to happen next, and that's where a lot of the intrigue is coming from. governor greg abbott is citing his constitutional authority to self-defense against an invasion is, further adding that the federal government broke its constitutional pact with the statement by failing to enforce

laws on the books, and new some democrats are pressuring the biden administration to establish sole federal control of the national guard after the supreme court's ruling. >> it's unfortunate that we had to go there. it's unfortunate that there is a governor in texas, governor abbott, who has politicized this you should eshoo of what's happening on the border. and it's not making people's lives safer, it's actually making it harder for law enforcement at the border to do their job. >> reporter: the white house has not telegraphed its next move, but texas officials are calling biden's bluff. >> the biggest mistake the biden administration could make would be confronting law enforcement or our military, our national guard, at our border at this park when we're actually doing the job that the more than people want. -- the american people want. i don't think even biden will make that mistake. we're not looking for a confrontation. we're looking for them to do their damn job.

>> reporter: some constitutional experts agree that abbott is on solid legal ground, and former president trump yesterday urged states to send their national guards to the border to work with texas to combat, quote, invasion. meantime in washington, the focus had been on this bipartisan border policy bill being negotiated in the senate until mitch mcconnell acknowledged trump will likely be the gop presidential nominee, and he does not want this bill. that is an on the face after praising this bill for a month. gop leadership saying this would be impossible to enact without concessions to democrats under a new administration. still, conservatives in the republican party are urging their colleagues to hold off on this, pushing biden to unilaterally impose some of those trump era policies they say kept migrants out. but the flip-flop from gop leadership certainly plays into the white house claim that congressional republicans are not serious about solving this

issue that they've been sounding off about for month, stuart. stuart: thank you very much is, indeed. texas congressman pat fallon joins me now. congressman, as you may have just heard, the white house is considering federalizing the texas national guard which could mean a direct clash at the border between federalized troops and the state authorities. are we going to see a confrontation? >> well, stuart, that'd be a huge mistake for the biden administration, if they do that. the last time any national guard troops were federalized was during the eisenhower administration in the if little rock nine. and if joe biden does this, he may go down in history as the mexican drug cartel 9 million because there have been almost 9 million people who have crossed the border el el illegally over the last three years under his watch. i think it's a disaster. from a policy stand poirnghts it would be a horrible move, but we'll see. this administration has done both those things, they've made bad policy decisions, and they've made if bad -- stuart: how do you see this playing out? there's got to be some kind of

resolution at some stage. what's the resolution? >> well, what would be wonderful is some trump era policies worked very well. wait in mexico. i was down in the border a few weeks ago, and the customs and border protection agents were telling us if joe biden just instituted the wait in mexico policy, that we would see a 70% reduction in the flow of illegals to our border. but he refuses to do that. he has the power, he has the tools at his disposal right now under executive authority to solve not even crisis e anymore really, it's a cat cruz. he chooses not to. it boggles my mind. stuart: the senate if border discussion looks likely to collapse because trump says it's meaningless. that's the impact of trump's surge on congress. he's going to wreck, and i'm not saying this is badr or good, but he is going -- bad or goods, but he is going to make those talks collapse on the border. >> quite frankly, stu, where we were before there wasn't anything -- there was no real

teeth in that agreement. it was window dressing, quite frankly. we need, you know, the teeth that we need in there, we need exwe dieted removal, we need wait in mexico. we need -- if joe biden wants to call them barriers, i could care less. those are the concrete things that will help mitigate this crisis dramatically, and those weren't in the agreement anyhow. so i do agree agree with president trump, we've got to concern we have got to get serious and put some teeth in these compromises. stuart towt the democrats say the republicans don't want a solution, they want a political you should shoe for the election are, and and they're exploiting this as a political issue. what's your response to that? >> they couldn't be more wrong. and you know what in if the democrats didn't have double standards, they wouldn't have any standards at all. i'm an american, i'm a texan, i want to see this border crisis solved. we were talking about it back in february of 2021, and it's really simple. hey, democrats, encourage joe biden to reinstitute wait in

mexico. that will solve it right there. i don't know one republican in congress that doesn't want to see this resolved. that's just a political pandering to their left-wing base. it's not true and it's, quite frankly, absurd. stuart: i'd like to see how this thing's going to ban pan out over this weekend because some kind of confrontation is likely to happen. congressman fallon, have a great weekend. see you soon. >> thanks, stuart. god bless. stuart: lauren, one of governor abbott's fellow republican governors, what are they saying about this? lauren: 25 of them are banding together. they say don't mess with texas. here's part of the joint statement. instead of upholding the rule of law and securing the border, the biden administration has attacked and sued texas for stepping up to protect american citizens from historic levels of illegal immigrants, deadly drugs and terrorists entering our country. this is a security and a safety issue now. the country is, as i see it, evenly divided, right? if half the country, look, those are all the governor, the 25 gop

governors agreeing texas has a constitutional right to defend itself. and this includes governors that have, in states that are nowhere near the border. kevin stitt, oregon. kim reynolds, iowa. kevin little, idaho. nowhere near the board e and they're signing on. stuart: i think a lot of voters want some form of control at the border, and i think they're in the vast majority. lauren: interesting. stuart: i'm sure you agree with that. lauren i mean, yeah. okay. so your argument is that blue states, the voters in blue statements, are technically siding with the red state governors here. stuart: ooh i'm not sure how that works out, but i don't think the blue states have got this wight. they concern right. they don't know what they're doing. check futures, please. a few minutes before the market opens. dow down 50, nasdaq now down 90 points. the opening bell 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.

reliq health is a digital health company targeting the $100 billion virtual care market. reliq is rapidly growing with customers that include several of the largest and most highly rated health care organizations across the nation. reliq health technologies. stuart: three minutes to the market opening, dow's down 60, nasdaq down 83. mark mahaney with us this

morning. mark, or let's talk netflix which is up 16% this week. your price target was $500. if i'm not mistaken. where is it now? >> you're right. yeah, you're right, stu. we went from 500 to 600. i can see upside to 700 if numbers really play out aggressively. look, netflix has alerted itsel. there's two major things that have happened, competitive intensity has actually waned. it's come down. that started happening in early 2022 when the ceo of disney got fired for excess losses in the streaming business. and and then the other thing that's happened is free cash flow is starting to really ramp up at netflix. this is a scale business, and whoever has the most subscribers can afford to spend the most on content, but they get that kind of leverage against their content and marketing costs. anyway, that's where netflix is. they're the free cash flow winner and the market share winner. it's not one of our top picks,

but i continue to like netflix on the long side. stuart: your top pick is still amazon? that's still your top pick? >> yes. amazon, expedia, meta is third. the open question for all of us they have about 250 million paid subscribers now, how many are they going to have in five years? i think that number, i don't know if it doesn't double, but i think they can still go to 300-4000 million subscribers. i mean, globally people want to stream video, and there's netflix out this. they've solved their biggest problem which is their price points are ooh too high. so a year and a half ago, you have to take on ads, but a lot of people will do that for $6.99. and that's, you can walk around new york and spend more than that on a cup of coffee. so i think it's still a compelling value proposition. i like netflix and the business model. i like the stock. stuart: okay. of all the big five or the big seven tech stocks that are coming out next week, where's

the most risk? is it google? >> i think it's google. ing the operating margin assumptions that the street has just, i think, are just too high. if google's going to make a mistake, it's that they overpend. that's consistently been a mistake of google -- overspend. look, there's a memo that went around silicon valley the last year, last two years which is it's time to act your age. it's time to clamp down on these aggressive expenses. it's not growth at any cost anymore. everybody seemed to get the memo except for google. maybe that'll change, and i hope it does, but i just think you're taking risk every quarter on their margins. they could be overspending or underspend b uh-uh -- but there's not the risk they need. stuart: okay, we hear you. have a great weekend. o.k., it is almost exactly 9:30. that means the market has just opened. there you go. push the button. the dow industrials have opened low lower but not by much,

that's a very tiny loss, indeed. all the dow 30 have opened, and that index is down 30 points. .10%. the nasdaq composite -- sorry, the s&p 500 also opening lower but bare ifly, 4 points down on a 4,or 800 index. -- 4,800. and the nasdaq composite, that's down but not much, 34 points, 15,,000 index. show me big tech, please. amazon, meta, up. apple, microsoft, alphabet down but not by much. lauren: the issue is the forecast, intel says this quarter their revenue might be $2 billion less than what wall street expects. so that would be a big miss if it pans out. the problem is with the chips it provides for self-driving cars and its program bl chips. intel is entering year three of this five-year turn around a

plan, and right now investors are saying, hey, ceo, pat gelsinger, we're not really buying your turn-around a plan. stock is getting hammered, it's down 10%. stuart: that's a drop and a half. bring us up to speed on tesla. they were down 12 yesterday, i see a very small bounceback. lauren: yeah, he's that's by far the worst performer of the mag 7. they're recalling 200,000 vehicles in the u.s. from last year with, a rearview software malfunction. it's not the reason, it wouldn't hurt the stock necessarily, but it's not good news, and they need it. but cathie wood certainly bought the dip, she bought $32.5 million of tesla stock yesterday e when it was down 12%. i wouldn't call this a comeback, but at least it's up today and not down. stuart: that is aggressive dip buying, isn't it? 32 million shares. stuart further i think -- lauren: i think a lot of people buy tesla for elon musk. stuart: there were some

companies that reported before the bell this morning including american edges press if. lauren lauren we're going out to eat bigtime. restaurant spending for 2023 reached $100 billion for the first time according to american express. they also reported record or revenue, and they expect that no continue this year. they're forecasting revenue growth in 2024 to be between 9-11%. stock jumping 4%. stuart: $10 billion 3e7b9 in restaurants in 2023. lauren: entertainment and experiences -- stuart: eating and drinking too. [laughter] colgate palmolive, got some good news there, have we? lauren: they slowed the pace of their price hikes. so ab maybe your tooth pace and -- toothpaste and soap won't be getting that much more expensive. things are just so expensive, and they're acknowledging it. they also have a pet nutrition line, hills. you've herald of it? if. stuart: yes. lauren: okay. it's actually a quarter of their sales, and one analyst called

the severe slowdown that they saw last year or in that line exprching. we're not spending on -- stuart: the amount of money that we are prepared to pay for our pets' health is astronomical. it didn't used to be like this, but now there's pet health centers -- lauren: yeah, but when you spend $9 on toothpaste and $11 on shampoo, you might spend a little less on fido. stuart: north grumman. lauren: the ohio train derailment last year, stock's down 3.25%. their railway operating revenue fell by 5%, so bad news all around. stuart: alphabet, microsoft, meta, they all closed at record highs. that was yesterday. lauren: yes. stuart: run us through when these big tech earnings reports -- lauren: you are going to be so excited on tuesday. microsoft and google. thursday, amazon. apple, meta. each of these companies has a

market value between $1-3 plus trillion. you noted the three that closed at all-time highs yesterday while the other two, apple and amazon, are really close to doing it. amazon's at 159, and apple is a 194. stuart: did you know that half of all the stock market's gains so far this year are made up from microsoft and nvidia? lauren: yes. stuart: two stocks account for half of all the gain for the entire stock the market. now, that's cons trawtion. lauren: is that a.i. hysteria? stuart: that's dominance of just a few stocks. let's look at levi strauss. i always call them the jeans people. lamp lauren well, they are. stuart: here's another one. they're cutting jobs, aren't they? lauren between 10-15% of their corporate staff. they expect weaker sales this year. they join macy's and wayfair, some of the retail names we've spoke spokedden about in the past couple days who are laying off workers. so far this year just in tech, almost 74,000 jobs have been

cut. so far this year. early year. that's just tech. stuart: levis not tech. lauren: they're pushing towards high-end denim, but they also own beyond yoga. you know that. that's an athleisure line are. those sales are doing great right now. a final point, etsy -- red sea, all the disruptions there, it's causing a 2-week delay to get -- stuart: i don't know much about the yoga market. lauren: it's very popular, and i forgot that levi ises owned them. stuart: who's bullish on snap? lauren: deutsche bank. they say buy it, and and shares are going up 16% to $19. they say there's a clear, strong catalyst path towards higher revenue. stuart: all right. let's wrap it up. take a look at the big board. we opened lower, or now we're up about, what, 60-odd points. yeah, 66. 38,100. dow winners, see that list, please. topping the list is american express.

4.8% i higher. boeing, boeing's bouncing a little but not that much. nike, ibm dow inc. sorry, go ahead? lauren: i just wanted to correct movements i said 73,000 job cuts this year, it's 23,000. just for the record. don't want to give wrong information. i read my handwriting wrong. stuart: s&p 500 winners, biorad labs, american express, estee lauder, whatever, donahoe group with. [laughter] nasdaq -- i just don't know. [laughter] i hope they're not offended i get their name wrong. tesla's at the top. lauren lauren just a 1 gain. stuart: tesla's now at 185. okay, the 10-year treasury yield, it's actually moving up a little, 4.14. the price of gold still -- lauren: that's surprising because we got the core pce inflation number under 3%. stuart: yes, we did. lauren. i thought the 10-year would be a little bit less. stuart: apparently not. bitcoin -- well, gold is at

$2,039, bitcoin's at 41,2. oil last time we checked was $76 a barrel. 77 now. going up a little bit. nat gas, despite all the lousy weather around the country, it's actually down at 2.55. gasoline, unchanged at a $3.10 for regular. diesel, that's also unchanged at $3.91. coming up, the governor of michigan, gretchen whitmer, left people we bewildered after she posted a video on social media with special guest professor potato. roll tape. >> hi, professor if potato. i wanted to share some yukon gold news with you, my best bud. >> we will work together to make the first two years of community college tuition-free for every high school graduate. that isn't small potatoes. that's a big deal. >> later, tater. [laughter] lauren: target audience is not 5, they're more like 18. stuart: wasn't expecting that. do you realize she was almost

biden's vice president? if comedian jimmy failla will have a lot of fun with that, i'm sure. a realtor from eagle pass, texas, says home prices are way down. we're going to get into that. and there's this, the federal trade commission is once again going after big tech. this time for their investments in artificial intelligence. what's wrong with that? if we've got a report after this. ♪ ♪ meet the traveling trio. the thrill seeker. the soul searcher. and - ahoy! it's the explorer! each helping to protect their money with chase. woah, a lost card isn't keeping this thrill seeker down. lost her card, not the vibe. the soul searcher, is finding his identity,

and helping to protect it. hey! oh yeah, the explorer! she's looking to dive deeper... all while chase looks out for her. because these friends have chase. alerts that help check. tools that help protect. one bank that puts you in control. chase. make more of what's yours. your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a game changer for my patients. it really works.

they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause]

ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com stuart: the federal trade commission is probing big tech's investments in a. a.i. hillary vaughn joins us. hillary, what's the problem here? why is the ftc investigating this? what's gone wrong? >> reporter: well, stuart, the ftc wants to make sure that big tech is not bigfooting innovation or competition in the a.i. space, so the ftc chair, lina khan, saying this in

announce her investigation. quote: our study will shed light on whether investments and partnerships pursued by dominant companies risk disporting -- distorting innovation and undermining competition. so companies try to carve out their part, they are now dealing with the ftc knock at their door. investigating microsoft, openai, anthropic and alphabet. the ftc specifically look at their investments and partnerships. microsoft says they think this investigation will prove competition is thriving telling fox fox business in a statement, the u.s. has assumed a global a.i. leadership position because important american companies with working together. partnerships in companies like microsoft and openai are promoting competition and accelerate ising innovation. but some competitors are cheering the investigation because they think it might, expose some of their rivals, google telling fox business in a statement, we hope the ftc's study will shine a bright light on companies that don't offer the openness of google cloud or

have a long history of bringing in the same approach to a.i. services. now, khan has made it increase creasingly clear under her tenure that she is very concerned that a.i. is going to be a big boom for big business, meaning big tech just getting even bigger which is something that she count want. stuart? stuart: i understand that. hillary, thank you very much, indeed. please show me tesla. that stock was down 12 percent yesterday after elon musk warned of a production slowdown in '24. minor if leagues bounce today. steve wesley is with me now. i want to talk about the chinese ev maker byd. they just became the top car brand in china. are they going to dominate tesla in 2024? is this their year, byd? >> well, it could well be. and, again, the big picture here, tesla has just posted a dramatic $25 billion quart, the biggest in their history, 97 billion for the year. they've sold 1.8 billion concern

million cars, and they have an astonishing 50% in full of the american marketplace, more than all other ev sellers combined. but as you point out, tesla's growth has slowed. 71% in 2021, 5 51 in '22. this last year down to 19% at the same time, byd's come up like a rocket selling 70 percent growth. they did 1.6 million vehicles next year. they're clearly going to pass tesla this year with. so the big smackdown is, is byd going to be able to success any break into the american marketplace where they sell no cars today? if they've already launched in europe. you've got to ask yourself, do americans and europeans want to buy a chinese-made car? i think with the iot devices in cars today, that's going to be a big push. we'll see. stuart: but byk, their cars are much -- byd, their cars are much cheaper than teslas, aren't they?

>> that's exactly right. it's an interest dynamic here because the average tesla car is roughly twice the price of byd, but byd is taking that mid market, low market from 15,000 to 30,000. they're growing rapidly not just in china, but starting to move in sos asia, throughout south america -- southeast asia, throughout south america and mexico can. but tesla has got to do something to ramp up its revenues. and i think the $25,000 car that tesla's been talking about for some time has to be front and center. musk said yesterday he will get that out by late '25. he has to execute on that. if he does, it will ramp up sales in the u.s., europe and allow them to enter new markets. elon's already said they may put their next manufacturing plant in india. but this is the smackdown for global ev dominance. it is byd versus tesla right now, and it could go either way.

it's going to be an interesting one to track. investors need to pay attention. stuart: that is fascinating. steve, thanks for joining us this morning. i know you were a former board member at tesla. next time we have you on i want to talk about elon musk and his behavior and see if that interferes with the running of his companies. we'll have you back soon, i promise. thank you very much is, steve. >> great. thank you so much. stuart: whilst we were talking about the elon musk, he's got a new a.i. start-up. do we know much about it? lauren: xai, and the financial times is he's looking to report $6 billion which would be six times the amount put forth in an season ec filing last month. he wants to challenge sam altman at openai, and the paper says musk is targeting cyber wealth funds in the middle east and family offices in hong kong for the funding. if this company gets it, xai could have a valuation of $20 billion. sounds like a big number, but it pales in comparison to openai.

stuart: that's right, it does. thanks, lauren. all right, coming up, when the president makes a gaffe, slurs his words or looks lost and confused, his message doesn't get through. it's not so much what he says as how he say9 it -- says its that is unsettling. there's a new trend on tiktok, and it's called loud budgeting. roll tape. >> it's not i don't have enough, it's the i don't want to spend. so 2024's all about loud budgeting, okay? put that dollar in your pocket, choose a stock that's going to rocket. stuart: you know, i'm getting real old. jeff flock's going to explain this loud budgeting, and jeff is next. ♪ i'm on a low budget, i'm on a low budget ♪

known as a loving parent. known for lessons that matter. known for lessons that matter. known for being a free spirit. no one wants to be known for cancer, but a treatment can be. keytruda is known to treat cancer, fda-approved for 16 types of cancer. one of those cancers is advanced nonsquamous, non-small cell lung cancer, where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal "egfr" or "alk" gene. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness,

constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion, memory problems, muscle pain or weakness, fever, rash, itching, or flushing. there may be other side effects. tell your doctor about all your medical conditions, including immune system problems, if you've had or plan to have an organ or stem cell transplant, received chest radiation or have a nervous system problem. depending on the type of cancer, keytruda may be used alone or in combination with other treatments, and is also being studied in hundreds of clinical trials, exploring ways to treat even more types of cancer. it's tru. keytruda from merck. see all the types of cancer keytruda is known for at keytruda.com and ask your doctor if keytruda could be right for you.

stuart: there's a growing trend amongst gen-zers. i'm told it's called loud budgeting. jeff flock is with us. all right, jeff, what is loud budgeting? [laughter] >> reporter: i'm with you, sur, i'm a little slow on the uptake. but, yes, loud budgeting. you remember a conspicuous

consumption, well, this is conspicuous nonconsumption. young people, gen-z -- we're on the princeton university campus, by the way -- young people saying, hey, i don't have the money, i'm not going to spend it. i'm not going to go out and spend money i don't have. i want to save, i want to build with an emergency fund. wow. i didn't see that one coming. here's one, some of what they're posting on tiktok, videos. listen. >> number one is you're going to stop at. lou: spending and start the loving within our means. it is okay if you don't go on that vacation, if you don't have the latest handbag. it is okay. >> reporter: and it comes not a moment too soon, stuart, because, you know, debt overall for all generations went up last year, but gen-z by the most, almost double digits. millennials up 4%, gen-x 6%. boomers like you and me up about 2%. we talked to folks out on the street about this, what do you think of this whole loud

budgeting concept? they give it a thumbs up. listen. >> i have a 26-year-old daughter. they're very smart about a money. they are, they're very in touch and they're very careful. >> that's the way people are getting their news now, and that's how people are sharing all kinds of information, so financial information, that's good. good financial information, yeah. >> reporter: yeah. and, as i said, you know, debt's going up and almost delinquencies. credit card delinquencies going up. take a look at this chart. you know that yellow line at the top? that's gen-z. they're the most delinquencies, and those with the fewest? that would be that green one at the bottom. it's boomer s, like us. and as you point out, stuart, with some frequency, it's not that we're cheap, we're just i frugal. is that your word or -- stuart: no p. i prefer thrifty. thrifty is good, yeah. >> reporter: the guy who throws nickels around like manhole covers.

yes, exactly. [laughter] stuart: correct. i think we're over, jeff. we better move on. see you later, son. have a great weekend. i want to know what you think of gen-z's new loud budgeting trend. varney viewers@230bgs come. on the markets, we've been in business for 25 minutes. not that much price change. still ahead, ken fish, he says we're in a bull market and things are better than people think. whop, i like to hear that. he's here to explain plain. brian brian kilmeade on the irish good-bye. it's something i always do. [laughter] lauren: i do it too. it takes time. stuart: and biden does it again. at a speech he slurs his words and looks confused. what does jimmy failla make of that? the 10:00 hour is next. ♪ if we go down, then we go down together. ♪ they'll say you could do anything, they'll say that i was better. ♪ if we go down, then we go down together ♪

when it comes to clogged gutters, you might say i've seen it all: .. because any gutter open to the elements is gonna gather debris and clog over time. and that can cause all kinds of problems. but get leaffilter and the problem is solved. leaffilter's patented technology keeps debris out of your gutters for the life of your home, so you never have to deal with clogged gutters again. i hate heights. every few months i'd have to go up there and shake and wobble. so we got leaffilter. all the stress is gone. it really gives us peace of mind, knowing that our gutters are clog free for life. i would recommend them in a heartbeat.

i used to cringe every time it rains. now i'm on the porch with my coffee. home inspectors, roofers, general contractors. all kinds of pros recommend leaffilter. and i'm one of them. so when experience matters get leaffilter. call 833.leaf.filter, or visit leaffilter.com today. [ applause ] the day you get your clearchoice dental implants changes your struggle with missing teeth forever. it changes how you eat, how you feel, and how you enjoy life. it changes your smile and how others smile at you. clearchoice network doctors have changed over 100,000 lives with dental implants, and they can change yours, too. because a clearchoice day changes every day. schedule a free consultation. hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy.

with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility.

kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a kohler-certified installer will install everything quickly and conveniently in as little as a day. they made us feel completely comfortable in our home. and, yes, it's affordable. i wish we would have looked into it sooner. think i might look into one myself. stay in the home and life you've built for years to come. call... to receive 50% off installation your kohler walk-in bath. and take advantage of our no payments until 2025 financing.