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tv   Varney Company  FOX Business  November 7, 2024 11:00am-12:00pm EST

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research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. >> this week the people of america stood up and basically gave them a one-finger salute9
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and it would 'em, you know, we're back. we love freedom, we love our families. >> yes. he can't necessarily go out and push the lower the eggs or milk button, but he can create an environment where you're able the stability. >> the republican party is not going to go back to a bushite internationalism, and it's the not going to go back to giving up american economic values. >> this is bad processed information. this is making america fat and lazy in their mind, or and it's time for some accountability. there needs to be pink slips. how about some you're fired in the media. >> what went up the most? financials,villes and energy, cyclicals, the benefit from growth in the economy. that's a bullish sign. ♪ ♪ label me prowrksd i belong to the drinking class ♪ muck. stuart: i belong to the what? if what song is this? if oh, the drinking class. [laughter] lauren: i thought it was
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shrinking class. stuart: i've never heard that song before. are we all in the drinking class? >> it's a fine class. maybe that's what you do -- stuart: i think it's time we moved on. disease thursday -- it is thursday, november the 7th. look at the markets. extending the trump rally. the nasdaq is now up 250points, another 1.3. big tech, something of a mixed picture. not all straight up. yes, it is. [laughter] amazon, nvidia, apple, alphabet, microsoft, they're all on the upside this morning. the 10-year treasury yield, that's around about 4.30, 4.35 now. there you have it. any moment now, president biden will address the nation from the rose guarden. it will be the first time he's spoke opinion about the outcome of the election. -- spoken about the outcome of the election. and now this. the elites have been living in a bubble. trump just burst it. trouble is, the elites don't get it, they don't understand why
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they lost. i have a suggestion, stop looking down on ordinary people. lay a off the scorn. voters don't stand for it. on "the view," sunny hostin proclaimed she was profoundly disturbed by the election result. she condemned uneducated white women. whoa, talk about talking down the people p. do they expect uneducated white women to wither under their scorn and suddenly adopt the values of the elites? having masculinity dismissed as tock toxic and brutish, you can understand men voting for trump. the harris campaign sent out tim walz the appeal the men. they showed him hunting, but he couldn't load his gun. hell hath no fury like a voter looked down on. just over one-third of americans have a college degree. this is the educated elite are. they run everything, and they impose their values on everyone. they're the ones pushing climate policies that interfere in efforts aspect of our life. they're in love with diversity,
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equity and inclusion, and dent you daughter disagree, or they'll -- dare disagree or they'll call you names. it would be funny if it wasn't so pa net the in. the ladies of "the view" dressed in black. maybe that's appropriate because donald trump did, indeed, burst the bubble. the elites just haven't realized it yet. third hour of "very varney" starts now. -- "varney" starts now. ♪ ♪ [laughter] stuart: brian brenberg -- that was a good comment, you caught us, okay. the media doesn't get it. will they ever get over their elitism? >> no. you made the great point about they can't relate to the average person, hay don't try to relate. the tim walz thing was an attempt to do it, and it flopped. then they thought, well, let's trot out the shiny objects, the
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celebrities. we're going the put them up on stage. they just came in succession, it was like a parade. you want to be like them, they're going to vote for me, do what they say which is the most condescending thing you can do the a thinking, feeling human being who is capable of having independent thoughts. that's their problem. stuart: bernie sanders says the dem the accurate party has abandoned the working class -- democrat party. newt gingrich told me this morning trump created a substantial political call movement. watch this. >> what you had on the one side was a political campaign. that was harris. what you had on the other side is an enormous and growing political movement. and when you have a movement champion versus a traditional political leader it's no contest in the long run if the movement grows big enough. the trump message that we have to change is really penetrating. stuart: what do you think, brian? the republicans are now the party of the working class? >> yeah, because they care about what the working class cares
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about. you've got to seek -- speak to what people are feeling in their lives. it's not that hard. speak to those things. give people a program for those things. kamala never gave america a program for how to deal with those programs, she just wanted to pretend they weren't problems at all. stuart: it's kind of clear to me at least that the republicans are the party of the working class. and the democrats have become increasingly the party of the elites. >> well -- stuart: they're the educated ones. they know so much better than everyone else. >> even worse than that, they're the party that' defending thely -- ridiculous things elites do on college campuses. they're the party that gives money away to those people and excuses what happens while campus quads are taken over. is that who the working person in middle america wants to run hair life to speak into the things they need solvedded?
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absolutely not. and they said, good-bye. stuart: out of touch. >> out of touch. stuart: brian, stay with me for the hour, please. check those markets, please. looks like the trump rally continues at least for the nasdaq. dow's turned south but only just, 19 points off. nasdaq up 1.1%. jacob sonnenshein joining me now. we had a really big post-trump, or post-election rally. how long does it continue? does it have real momentum? >> the trump element of the rally, i think, is starting to fade. it's already starting to fade. we had the indexes 2-3% on wednesday and now you see the nasdaq up around 1%. it was up much less than that before. the large cap indexes have priced in lower taxes for companies that produce if goods at home, have priced in some start on a little bit of fiscal stimulus. all these things that trump is going to do that is market-positive. the market has absolutely priced it in. the s&p 500 is at 22 times
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earnings which is extremely high when you have yields above 4%. so we're starting the decelerate. you're starting to see the nasdaq up 1%, not 222. we're starting to -- not 2. and that's okay. stuart: they're not selling off. you had this huge gain. of there's no selloff so far, i should say. so we have still got some momentum there. >> yeah. but you've really got to be careful. in terms of valuations and especially the nasdaq now approaching 30 times, again, you put that multiple in context with how high interest rates are and just the competitiveness of bonds versus stocks right now, the earnings yield on the s&p 500 right now if is about 4.5%. i can get that yield in a risk-free treasury bond. then you start to looked at technicals, you start to look at how extended we're getting over 200-day moving averages. so, stuart, yes, we're in a bull market, and i've been saying that the since early 2023, we're going to continue to be in a bull market. it's not all about trump and
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politics. big tech, a. i., those things are here for real are. onshoring, industrials are a great spot. industrials and tech are huge portions of the u.s. stock market, but the rally is decelerating, it needs a break, and that is okay. stuart: i've asked several people which industries, which sectors of the market will do well under trump, and we've got three they're talking about, defense, health care, energy. you argue with any of hose? >> no, no, absolutely not. also financial financials. lenders, kre, regional bank etf, is up about 13% since the trading day right before the election, right? it's not only fiscal stimulus, it's not only a slightly expanding yield curve, higher profitability, higher net interest margins, but then you have to add on top of that a little bit of deregulation. and remember, this is a redaway. if -- wave. so these policies that trump wants to get through, they're very likely getting priced in. they're getting priced in a little bit, but in terms of the
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earnings you're going to see from regional banks, those are going to now through, not going to happen until second half '25 the or '26. stuart: we're going to be watching you on the "barron's roundtable,"s fridays, 7:30 p.m. on fox business. looking at some of the movers, it's down 3.8%, but tell me about jp morgan. lauren: i'm surprised by this. they say the stock coming down 19% to $200 a share. i thought that was surprise because all the optimism about less regulations and pro-growth coming from the trump administration. why? on valuation. stuart: really? lauren: yep. david bahnsen, he said i called the analyst this morning to say, why, why did you do this? valuation. stuart: arm holdings, this is british -- >> correct. they design their chips power, they went public year. shares have basically doubled since then, but now they're starting to see sluggish demand
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for those chips despite the surge in a.i. computing. the, stock was down, has turned higher. up 3.6%. stuart: clear secure. lauren: to do you use it at the airportsome. >> stuart: i don't. but aren't they the guys who charge you -- lauren: $2000 a year to get through security -- 2000 -- 2000. slowing member growth and disappointing profits. stuart: maybe i should join. >> that's the problem, too many people have joined, and that line is longer now -- the. lauren: it's kind of true. have you noticedsome. stuart: thanks, lauren. even msnbc is going after the harris campaign for completely failing to address the border. >> immigration has been a terrible discussion for democrats. i don't know who hay think they were playing to when they let millions of people come cruising through the border at their own will because of their own decisions. stuart: immigration was clearly one of the the top issues for voters, so why -- we're going to the try the figure out why the
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democrats ignored it. it's because of their record. trump won key battleground state pennsylvania by a narrow margin. was fracking the issue? if i'll put it to pennsylvania congressman dan meuser. he's next. ♪ ♪
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stuart: all right. any moment now president biden will address the nation from the rose garden, the first time he's spoken about the outcome of the election. we're going to bring it live to to grow when he begins. the chairman of the philadelphia democrat party is slamming the harris campaign. bryan llenas in philadelphia joining us. bye yarntion what exactly did
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the chairman say? >> reporter: stuart, good morning. well, all i can say is hat democratic in-fighting and blame game is intensifying. i speck to the chair of philadelphia's democratic party, bob brady, who says he thinks president joe biden would have won pennsylvania, and he's blaming the harris a campaign for neglecting philadelphia, relying too heavy ally on outsiders and giving them about half the resources they really needed. >> the national campaign, nothing, zero. they had no respect, there was no coordinate nights. i never even had a conversation with the raid key. they didn't do the right thing as far as giving the resources that we need, and they want to blame us? and now i understand some of them are blaming joe biden. could you imagine blaming joe biden for her loss? if she lost, he didn't lose. >> reporter: the harris campaign is firing back saying the pennsylvania for harris team knocked on more than 2 million doors in the weekend leading up to election day which is 2 million more doors than bob
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brady the's organization can claimed to have knocked during hisser into entire tenure. brady said at that harris concert here on the eve of the election featuring lady gaga and oprah was a waste of money. >> i've gotten more complaints inus clue -- including my daughter-in-law. traffic jam after traffic jam. so what happens? they're a mad. and why is this happening? because of a concert that she showed up at1:30 at night? if -- 11:30 at might? give me a break. >> reporter: do you think it changed anybody's mind in. >> it doesn't look like it, does it? the outcome didn't show it. >> reporter: we are watching pennsylvania's senate race which is still too to close the call. republican challenger dave mccormick is right now in the lead over incumbent senator bob casey by some 30,000 votes. we are in automatic recounter the story. bob casey, stuart, is now run raising must be potentially for
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a legal fight. stuart? stuart: thank you very much. now this, the republicans have clinched the senate majority, they're also on case to -- course to win a slim majority in the house. joining me now, pennsylvania congressman dan miers. can you get anything done with a very slim majority in the house? >> hey, stuart. absolutely, we're going to, we're determined, we're unified, is and we have the great leader in donald j. trump going to be sitting in the white house. as long as chuck schumer doesn't have that gavel, we're going to come together, we're beginning to get bills passed. johnson will likely be our speaker. leadership is going to be terrific with scalise and others. we're going to have an agenda, we're going to execute. the american people are going to love the plan, and we're going to get it done. with trump in the white house, again, it'll be assured. stuart: trump won pennsylvania by a very narrow margin. was fracking the deciding issue? >> you know, stuart, he won by 130,000 votes -- [no audio] stuart: the video and the audio
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concern he's back. >> [inaudible] if. stuart: go ahead, congressman. you're back. >> i'm sorry. oh. so, yeah, fracking has a lot to do with it. energy as a whole. we're an energy state, right? we have 1800,000 landowners that were receiving royalties, have received royalties that a kamala harris at and the democrats wanted to end. our farmers own a lot of those lands. agriculture depends upon natural gas and energy as does our other big industry, manufacturing, distribution, tech. you know, we have a.i. centers and data centers looking to move into pennsylvania. the idea that kamala might if overregulate, ban or overtax our natural gas would have been devastating. 400-500,000 jobs not including the, all after -- of the multiplier effect that occurs for businesses and small businesses. you know, the list just dose on. 30 counties receive, receive our impact fee. and, stuart, $2 2.3 -- 2.3
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billion last year to 180,000 landowners. do you think any of those landowners voted for kamala harris? stuart: i doubt it. >> no chance. stuart: dan meuser, congratulations on your re-election. always good to see you, and we'll see you again soon. congressman miers, thanks. the hosts of "the view "say social media is partly to blame for trump's win. ashley, morning to you. what's their reasoning? >> reporter: i wish i could tell you. of course, ignoring the fact that kamala harris was a lousy candidate, you're right, the ladies claim social media helped donald trump win the election. enjoy this slice of wisdom. >> in finland kids in nursery school are learning to the discern between fake news and real news. they should be teaching that in this country. [applause] >> yes. >> teach children tolerance. teach them to think critically. >> well, it would help if we could regulate social media because one of the biggest
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offenders is d.c. and congress have not been able today one thing in regard to rogue -- >> not going to get any better with elon musk in the administration. >> reporter: wow, hay just whip themselves into a frenzy. republicans, meantime, thanking "the view "saying harris' appearance on the show last month just showed exactly that the vp couldn't answer simple questions including the classic one, whether there was anything she would have done differently hand president biden during the past four years to which e all know now that kamala harris responded, there's not a thing that comes to mind. stuart stuart great report there, ash. brian if brenberg, does social mode ya need any type of censorship? >> look, any -- no. look, here's the thing. i loved on -- ash there. they say we could have won this election if we just could have controlled what people say and what they the think. that is what concern that's why
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joy behar, by the way or wanted to pivot away. not because she disagrees, but because you're not supposed to say that. you're not supposed to say that out loud. no. just let people -- i mean, we have obvious constraints on fire in a theater -- lauren: elon musk bought twitter, x. and that was -- >> yes. let people speak. the left is afraid of sharing ideas, and the ideas they don't like they call disinformation. it's as simple as that,s stuart, and america said, no thank you. thank goodness america said no thank you the that. stuart: settle down there, sir. >> this is first amendment stuff, you know? this is real deal stuff, when you have people -- can. lauren: and elon musk said a million dollars when you live in a swing state if you you you sign this petition to support the first and second amendments. stuart: pretty good. i think we're going to see president biden appear in just a couple of minutes, so let's get a market check before the the president appears. checking out crypto, they've done very well, of course, with trump's election. he's said to be crypto favor,
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and he likes crypto. bitcoin very close to a record high there. there's the market check. we've got the dow down 33 points, but the rest of that market chemos -- keeps on going up. nasdaq up 2300 points, that is -- 230 points. show me the big winners on the nasdaq. warner brothers is up 10%. take two interactive, 6. gilead sciences, 6%. tradedesk, 5%. constellation energy, there's the nuclear people, remember, they're up 4.6%. now we're about to see president biden. he's going to appear any moment, and there we go. we're going to listen in. the president of the united states. [applause] >> good morning. [applause] >> good morning, good morning. [applause] thank you. please. thank you.
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ms. -- [applause] good the see the cabinet and staff together. thank you. [cheers and applause] thank you, thank you, thank you. please. [applause] thank you, thank you, thank you. it's good to see you all, particularly good to see my granddaughter sitting in the front row here. hi, how are you, honey? for over 2000 years, america's carried on the greatest experiment -- 200 -- many self-government in the history of the world. that's not hyperbole, that's a fact. where the people, the people vote and choose their own leaders, and they do it peacefully. and we're in a democracy. the will of the people always prevails. yesterday i spoke with president-elect trump to congratulate him on his victory, and i assured him that that i'd
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direct my entire administration to work with his team to ensure a peaceful and orderly transition. that's what the american people deserve. yesterday i also spoke with vice president harris. she's been a partner and a public servant. she ran an inspiring campaign, and everyone got to see something that i learned early on to respect so much, her character. she has a backbone like a ramrod. she has great character, true character. she gave her whole heart and effort, and she and her entire team should be proud of the campaign they ran. of -- you know, the struggle for the soul of america since our very founding has always been an ongoing debate and is still vital today. i mow for some people -- i know for some people it's a time for victory, to state the obvious. for others, it's a time of loss.
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campaigns are contests. competing visions. the country chooses one or the other. we accept the choice the country made. i've said many times you can't lo your -- love your country only when you win. you can't love your neighbor only when you agree. something i hope we can do no matter who you voted for is see each other not as adversaries, but as fellow americans. bring down the temperature. i also hope we can lay to rest the question about the integrity of the american electoral system. it is honest, it is fair and it is transparent. and it can be trusted, win or lose are. also hope we can restore the respect for all of our election workers who busted their necks and took risks at the outset.
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we should thank them, thank them for staffing voting sites, counting the votes, protecting the very integrity of election. many of them have sol -- are volunteers who do it simply out of love for their country. and as they skid did, as they did their duty as citizens, i will do my duty as president. i'll fulfill my oath. aisle honor the -- i'll honor the constitution. on january 20th we'll have a peaceful transfer of power here in america. to the all our incredible staff, supporters, cabinet members, all the people who have been hanging out with me for the last four years, god love you as my mother would say, thank you so much. you put so much into the past four years. i know it's a difficult time. you're hurting. i hear you and and i see you. don't forget, don't forget all that we accomplished. it's been an historic presidency. not because i'm president,
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because of what we've done, what you've done. a presidency for all americans. much of the work we've done is already being felt by the american people. the vast majority of it will not be felt, it'll be felt over the next ten years. we have legislation we passed that's just only now just really kicking in. we're going to see over a trillion dollars worth of infrastructure work changing people's lives in rural communities, communities that are in real difficulty. because it takes time to get it done. so much more, it's going the take time, but it's there. the road ahead is clear assuming we scene it. there's so much, so much we can get done and will get done based on the way the legislation was passed. and it's truly historic. you know, we're leaving behind the strongest economy in the
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world. i know people are still hurting, but things are changing rapidly. together we've changed america for the better. now we have 74 days to finish the term, our term. let's make every day count. that's the responsibility we have to the american people. look, folks, you all know setbacks are unavoidable. but giving up is unforgivable. setbacks are unavoidable, but giving up is unforgivable. we all get knocked down, but the the measure of our character, as my dad was said -- would say, is how quickly we get back up. remember, a defeat does not mean we are defeated. we lost this battle. the america of your dreams is calling for you to get back up. that's the story of america for over 240 years and counting.
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it's a story for all of us, not just some of us. the american experiment endures. we're going to be okay, but we need to stay engaged. we need to keep going. and above all, we need to keep the faith. so proud to have worked with all of you. i really mean it. i sincerely mean it. if god bless you all, god bless america and may god protect our troops. thank you, thank you, thank you. [applause]
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stuart: the president saying good-bye to his staff in the rose garden at the white house. he entered the rose garden to prolonged applause. the staffers were in the audience, they cheered him on. what he had to say was interesting. he said we're going to ensure a peaceful, orderly transition. we accept the choice that the people have made. he seemed to be refuting donald trump's claims of problems back in the 2020 election. he was trying to refute those claims about what he said. we accept the choice, we want a peaceful transition. he said it had -- he had a historic presidency. it takes time to get it all done. we've lost this battle, but we're going to get back. it sounded a bit like the resistance starts here, and we're going to make sure we have a peaceful transition. what did you take away from this? >> yeah. at the end he talked about getting back up, not letting defeat be a final defeat for you, not, you know, keep going.
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but i thought what was interesting is he said those things, and you'd expect him to say those things, but what he really couldn't say say is, okay, but how does this party in this moment given what it just endured actually do that the? what is the thing at the core of the democratic party that allows them to -- i don't know that he would do this in that speech, but that is the gaping absence, the gaping question mark that the party faces, and they don't have an answer to it right now. and he is off the stage. he doesn't get to answer that question, and he didn't even try to do it today. stuart: nor if should he today the. >> i don't think he should, you're right. stuart: it was a gracious good-bye. >> it was a gracious good-bye. lauren: yeah. it was a gracious good-bye. he seemed at as peace, i would say. stuart: he did. lauren: he seemed confident. stuart: all true. lauren: and maybe a little bit pleased. stuart: okay -- >> a in this' what i thought, actually. lauren: yeah. >> he came in, there was a sort
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of glint in his eye. lauren: i am the only person that have been able to beat donald trump. he didn't say that -- stuart: no, he didn't say that. nothing like it. now this, next case, msnbc's chris math theus says the democrats made a big mistake with their open border policy. >> it's the all about immigration and the economy, but immigration has been a terrible decision for democrats. i don't know who they think they were playing to when they let millions of people come cruising through the border at their own will because of their own decisions. working people especially, hay feel that they've been beprayed, they feel -- betrayeded, their country's been given away, and they don't like it. i don't know who liked it. stuart: we need some commentary on the migration situation, and sheriff thaddeus cleveland joins me now. are we going to see a rush to the border from the south from the migrants, rushing at the border because we now have president-elect trump? we're told there's another migrant caravan headed to the southern border.
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what do you think's going to happen when they arrive at the border? will they be let many? -- in? >> good morning, stuart. thanks for having me back. no, i don't think they'll be let in, and do i anticipate an increase here at the border? i certainly do. that's happened historically when there has been that transition from one administration to the next when we've had weaker, a weaker stance on border security and illegal immigration. so but i think, more importantly, americans have roque woken up to this issue, they've seen this issue really transform over the last three and a half years, they will see a significant difference many in this current administration's policies versus president trump coming back into the white house and setting the stage to get us back to having a more secure border. stuart: president-elect trump says he's going to begin demorations on day one. my question is -- deportations -- where do you start? who do you deport first? if don't you have to have a reform of i.c.e. so they can do the their job? >> you know, stuart, i think
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it's a rather simple answer to that. i think once president trump comes back into power, leading our country, he will take the handcuffs, if you will, off not just border patrol agents, but i.c.e., ero, which is enforcement removal operations, they'll carry out those deportations and also bring back the 287g authority. that's the delegated authority from the u.s. government to local law enforcement officers that will allow officers like myself that once we catch someone here illegally and they have been identified as having a criminal history, we will be able to hold them for whether it's i.c.e. or border prl to come take them out of our hands, and then they will face deportation from this country. this previous administration or this current administration if has completely wiped that out, and we certainly welcome that back. stuart: times are changing. sheriff, thanks for joining us. see you again soon, i do hope. hang. >> thanks, stuart. stuart: a large numbers -- number of celebrities promised to leave the country if trump won again.
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can did any of them follow through? analysis shows donald trump got a historic level of support from jewish voters. the national director of the republican jewish coalition will break it down nurse. what's behind this safes -- this shift? that's next. ♪ live to win, take it all. ♪ ♪
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lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. stuart: on the screen dow's down a fraction, 18 points, that's nothing. but the nasdaq is up 2500 points, 1.33%. carrying on yesterday's rally. some hollywood elites have again threatened to leave the u.s. if trump won, and he did, again. yes, he won. ashley, who are these folks, and are they leaving? >> no, i don't think so, but anyway, hollywood celebs allegedly packing their bags and
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grabbing their passports include sharon stone, cher and barbra streisand. stone said, yeah, i'm considering a house in italy. streisand says she'd move to england, good luck with that, and cher just said she'd go somewhere else assuming, of course, any other countries would let them in. in 2016 celebrities such as whoopi goldberg, miley cyrus, george lopez, amy schumer vowed to pack up and move if trump was elected president. many hollywood it's become a running joke these days, all talk, many no walk. the bigger question is why does anyone care if they move out of the united states and what their politics are? they've lost. see you later. stuart: good today. man, you're sharp today, you really are. great sense of humor. we love it. we're all laughing here, can the that's good stuff. thank you, ash. fox news voter analysis shows trump got a historic 32% support from jewish voters. joining me now is the national
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political director and spokesperson at the republican jewish coalition, sam markstein. sam, 322% vote -- 32% voted for rump. is that the biggest shift -- trump. is that the biggest shift you've seen in the any presidential election? >> good afternoon, institute. just like president trump's victory rallied the markets yesterday, the republican jewish coalition rallied the jewish vote for president trump in this election and, yes, those numbers you just showed represent a historic number for the republican nominee and actually represent a historic hemorrhage of support. you have to go all the way back to the '800s to find a democratic candidate who did as poorly as harris did in this election. if you look at the battleground states, president trump did better in places like pennsylvania, nevada and arizona that delivered the presidency for him in this election. stuart: was this all about gaza and harris' refusal to condemn hamas? the did that drive jewish voters
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away? >> there's the no question that kamala harris' refusal to condemn the pro-hamas protesters on college campuses and align herself with the par-left radical base -- par-left radical base certainly played a role, but i think the bigger piece was the spike in anti-semitism we've seen on campuses and on our streets. jewish-americans did not feel safe, college students did not feel safe going to class. there were exit polls done going into this election suggesting that nearly half of american jews were afraid to wear religious symbols in public. and nearly half of american jews are afraid to tell -- excuse me, american jewish college students were afraid to tell their classmates they were jewish. there was a lot of fear and angst and anxiety in the community, and you saw that mete pd out on election night. stuart: sam, we appreciate it. appreciate you being on the show. come and see us again soon,
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please. thank you. let's check the dow 30. a mixed picture. there's plenty of green and a little bit of red. the dow is down all of 15 points. voters in california,, the they're loud and clear, they're fed up with crime. they just passed a measure to get tougher on criminals and fired l.a.'s woke district attorney. is there a real shift happening in california? i'm going to put that question to leo terrell. leo is next. ♪ in the hot sun, i fought the law and the law won. ♪ i fought the law and the law won ♪
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall.
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change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. stuart: california voters made it pretty clear, hey, they want to to get tough on crime. max gorden joins us from burbank, los angeles. voters there fired the woke district attorney, george gascon. so who replaces him, max? >> reporter: hey there, stu. l.a. county's new district attorney will be may than hockman, a former federal prosecutor, and he billed himself as a so-called hard-middle candidate saying he would be tougher on crime than outgoing d.a. george gascon, and that's a message that seems to resonate here in l.a. county. take a listen. >> they're all fed up with the fact that their homes are being
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broken into, their cars are being broken into. store the owners can't -- have no where to go now because the d.a.'s office has told law enforcement it won't bring those cases. >> reporter: and it's not just in l.a. where californians want to crack down on crime. as of today, proposition 36 passed with more than 70% of the statewide vote. with the passage of prop 36, serial shoplifters who are caught stealing three or more times can be charged with a felony. it also lengthens sentences from mob-style robberies that have been all over the news and social media. prop 36 also establishes so-called treatment-mandated felonies allowing offenders that accept their drug possession if charges to complete drug treatment and have hair charges -- their charges dismissed in lieu of incarceration. still, drug dealers selling fentanyl, it raises the
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penalties. prop 36 will be a valuable tool for the attorney general's office, but governor gavin newsom was against prop 36 and vp kamala harris, she wouldn't comment which way she voted on it. stu? stuart: thanks, max gorden. joining me now, leo terrell. welcome back, always gooded to see you. are we seeing a real shift in california when it comes the crime? -- to crime? >> no. i'm sorry to say that. i live here. i wish i could be honest with you. the people spoke, stu. 70% said yes on prop 36. but when you have the governor of california opposing it, heir going to slow-walk it. when you have vice president kamala harris not commenting on prop 36, that tells you a lot about the progressive, socialist, democrat leadership many california. one final point. we have a socialist mayor, karen bass. she's not going to have her police officers implement this.
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so the district attorney is going to have his hands tied because of democratic leadership that is in charge of the state of california. stuart stuart that's ridiculous. >> it is. i want to show you this, the liberal media is in a meltdown over trump's victory. watch this, leo. >> you cannot ignore there is still a lot of racism and gender bias in this country. >> i think this was a referendum of cultural resentment in this country. >> racism and bias had to have plaid a role. >> there are levers of sexism and -- levels of sexism and racism that, clearly, a lot of people in this country willing the tolerate. >> let's be absolutely blunt about it, there were appeals to racism in this campaign. stuart: all right, leo, is that it, just racism and sexism the blame? >> thank you for that question. i want to be clear. with 35 years 'experience as a civil rights attorney, those comments are a blatant the lie. there is no systemic racism in
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the government of the united states of america. there is no systemic racism in california or anywhere. that is a lie. that is a talking point, and i'm sick of it, stu. the democrats use that the divide this country and, apparently, americans don't believe it because you saw blacks and latinos and jews and union members voting for trump. that this dog won't hunt any longer. it's a lie. stuart: so i'm going to change the subject, okay, so we can see a smile on leo terrell's face. [laughter] you said -- the. [laughter] we had a bet, remember? you said trump could get 15% of the black vote, but the fox news voter analysis says he got 16%. therefore, you owe me lunch, and i've got extremely expensive tests. >> let me respond to that. i want to say it's too close the call. but i am more than willing to buy you lunch and your producers lunch. i saw some stats. i would only ask for a final
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tally for a week, ooh close the call. but i'm willing to buy you lunch, stu, and your producers, because i love being on your show. stuart: honestly, there's some congratulations involved here, because to get 16 of the black vote is an extraordinary the achievement for donald trump. let's not negate it just because he didn't get 18%. >> let me be clear about this, don trump has destroyed the -- donald trump has destroyed the democrat party. 16 percent is historic for a republican. you got a higher number of blacks voting for trump and, stu, black men vote in larger numbers than the overall average. why in because the race card doesn't play any longer, and the black americans want the same thing as all americans. they want a better economy, they want low inflation, they want a secure border, they don't -- hay want the elimination of sanctuary cities. and more importantly for their kids, they want school choice.
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stuart: yeah. and they don't like being talked down to. got it. hey, leo, i'll pick up on the bet sometime in the future, next time you're in new york. >> sounds good, stu. stuart: see you later, man. good for you. which year did january 20th become the official date for the presidential inauguration? 1889, 190022, which one was it? the answer when we return. ♪ ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. presentation looks great. thanks! thanks! voya provides tools that help you make the right investment and benefit choices so you can reach today's financial goals.
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that one! and look forward, to a more confident future. that is one dynamic duo. voya, well planned, well invested, well protected. ..
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stuart: with the inauguration coming up january 20th, when did january 20th become the official date for the inauguration. ashley, you first. ashley: the latest one or the earliest one, number 4, nineteen thirty three. stuart: that is getting some traction on the table. what have you got? lauren: i say the same, 1933. >> i hate to be -- 1933. 1933. 1933. that and i duration day was
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originally march 4th. it moved with the passing of the 20th amendment. fdr was the first president to be sworn in january 20, 1937. that became the official date in 1933 but wasn't used until 1937. thanks first sticking around. "the big money show" at 1:00 pm eastern on fox business and send your friday feedback, email varneyviewers@fox.com. critiques, praise. we will take it. that is it for us. quite a week this is coming into. neil, it's yours. neil: at least you get praise when you look at your e-mail. consider your self grateful for that

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