tv Varney Company FOX Business November 8, 2024 9:00am-10:00am EST
9:00 am
by early january. martha: -- maria: cheryl. >> this has been quite a week, maria with, but i can't help but wonder after you asked me earlier in the show about shoule change at ivy league universities, and i said, no? you know what? maybe the trump administration should look at pulling federal funding if they don't start to get a handle on their student population. maria: it's a great point. caroline? >> this election was a repudiation of lawfare, gender ideology, bidenomics, but the democrats don't want to look in the mirror. they're blaming misogyny, racism, misinformation. maria: and real quick, there is a lot president trump can do without 60 votes. i want the to just remind everybody executive the orders will probably be done on deregulation, renegotiating trade deals and the largest deportation effort we've ever seen. thanks, panel, great show. "varney & company" picks it up now. stu, take it away.
9:01 am
stuart: good morning, maria. good morning, everyone. the extent to the of trump's win is becoming apparent. it was truly historic. a county-by-county analysis shows him winning just about everywhere with almost all demographic groups. the republicans have cemented their control of the senate. dave mccormick won in pennsylvania giving the the gop 53 seats. there are still two races to be called. and the house looks likely the remain republican. that would cement a clean sweep. meanwhile, the democrats are in absolute disarray. kjp storms out of the press conference. despairing democrats are all over social media. one cutting her hair or in protest. to the markets. thursday, a quarter point rate cut. stocks went up some more. in this morning no serious selloff. the dow off maybe 20 the -- sorry, up 20. s&p down 5 and the nasdaq down 60-odd points. by the way, powell says he is not leaving the federal reserve
9:02 am
even if asked by trump. a new high for bitcoin early this morning, it moves well above $76,000 a coin. right now it's back to the 76,3. the record was 76,9. that was earlier today. the price of gold still below $2700, no, it's not, 2704. rates, not that much changed, the 10-year around 44.32 and ths moved up, 4.23%. price of oil, where are we? i'll say it when i get there. $71 per barrel. got it. gas lean, $3.009 per gallon. that's the average around the country. diesel at $3.56. all right. on the show today, governor newsom starts the resistance movement. he has called a special assembly for next month the safeguard california's liberal policies. aoc will organize resistance for if living in times of fascism. speaking of fascism, a riot in amsterdam.
9:03 am
we offer this warning, this is hard to watch. israeli soccer fans attacked. the king says it's an anti-semitic crime. israel has organized charter flights to evacuate its citizens prosecute city. a political leader says muslims with palestinian flags hunting down jews. a position gram in the streets of amsterdam. friday, november 8th, 2024, the end of an extraordinary week in politics and money. "varney & company" is about to given. ♪ ♪ -- to begin. ♪ ♪ eight days a week is not enough to show i care ♪ stuart: ooh, i need your love, babing, eight days a week. what a wonderful song. why is it eight days a week? because it seems like such a long and important week -- >> stu, this is a from a band
9:04 am
called the beatles. have you heard of them? stuart: oh, yes, i wanted to be a beatle -- >> you're our beatle. [laughter] lauren: he knows everything about them. stuart: let's get on with it, shall we? republicans extending their winning streak in the senate. dave mccormick's big win in pennsylvania, watch this. >> i think what made the difference is people want change. ment -- i think they represented that desire for change by electing president trump. i think the same with me. they're deeply distress thed by the skyrocketing prices, the wide open border, the crime in our cities, the war on fossil fuels, and they want change and common sense leadership. and that's why i think they elected president trump. stuart: his opponent will not concede until if all the votes are counted. the house looks likely to stay republican. that would cement a clean sweep. very powerful position for trump and the republicans. >> there's no excuse now if you
9:05 am
have the house, the senate and the presidency, it's time to enact the agenda, and that the needs to the start yesterday because, let's remember, i hate to say this following the week we've had, but the midterms are only two years away -- [laughter] you have to remember in all likelihood the party in power loses in the midterms, so it's incumbent upon republicans to get started immediately. that's why suzie whiles being put in as chief of staff yesterday, to my point, is a great start. he needs to lay the groundwork now, hit it running now, don't mess around. stuart: he's got the power, use with it. stay there, please, with me for the hour. donald trump's administration is beginning to take shape. this is what todd appointed -- referred. to he has appointed a woman to be his chief of staff. lauren, what can you tell us about susan weils -- whiles? >> -- whiles. >> she began her career back in
9:06 am
1979, she helped president ronald ronald reagan and ron desantis. she runs a tight ship, minimizing the in-fighting and the leaking9. -- leaks. love how politico describes her, a soft spoken grand ma but a sharp political operator. and while she is the daughter of pat spore summerall, she does not like the victory speech p. she is the first ever female chief of staff the. stuart: good start,, i would say. lauren, thank you. i want to get to a piece in the new york times highlighting trump's gains. look at this, compared to 2020 the trump gained 13 points in hispanic majority counties, 10 points in native american counties and nearly 3 points in black majority counties. todd to, welcome back again. it goes further than that. he won -- he raised the republicans' vote in manufacturing counties, mining counties, rural counties, you are, ban counties, suburban
9:07 am
counties, all over place. the man raised the republican share of the vote. unprecedented. extraordinary. >> so you're asking for what's the why? the why is simple, and we've been saying it for four years on this show. every single one of the groups listed there is impacted by the following two things, inflation, the economy and, two, the border crisis. every community in america is now a border state. that was reflected in what the mainstream american voter said when they used their votes. it was not reflected in what the mainstream media said. they missed it yet again. they missed the trends. and as a result, their hands are up in ther -- the the air, how did we miss this? stuart: they wanted to miss it. >> i think you're right. stuart: they knew the border policy was a disgrace. they knew it and wouldn't say it because they would hurt democrats. let's move on. listen to what white house press
9:08 am
secretary karine jean-pierre had to say about the economy that president-elect trump will inherit. >> we are proud, the president is uncredibly proud of what he has been able to do the for the american people. and that's going the continue to be his focus. i a talked about the legislative focuses that we're going to have in the next 74 days, and he wants to con to implement those the historic -- continue to implement those historic laws that he was able to get done. and, you know, the next administration is going to inherit a strong the economy which is very -- which he's very proud about. stuart: we have a money man next to us, kenny polcari sitting right next to me. she's right -- >> she's right. stuart: 4% unemployment, inflation's coming down. >> it is. i mean, inflation's coming down after it hit historic highs, but, yes,es the coming down. we see it in the data points, right, every time we get it. it continues to9 suggest the consumer's stronger, the economy's strong, so that's all good. yes, he will inherit a strong
9:09 am
economy, and i think that's great for the country. stuart: now what he's got to do is do it sop more. >> correct, and that's what he's going to do. yes, if he gets the economy to grow even more, then we'll start to tackle the deficit, right? because a growing economy's going to create more tax revenue for the country, and that's going the bring down the deficit. stuart: let's talk federal reserve. quarter point rate cut yesterday. got that. listen to what jerome powell if had to say about resigning. >> some of the the president-elect's advisers have suggested that you should resign. if he asks you to leave, would you go? >> no. >> can you follow up on -- do you think that legally he -- you're not required to heave? >> no. -- to leave? >> no. stuart: he's not resigning, that's it. but, kenny, that's not going to stop trump from criticizing him. >> absolutely not. stuart: trump should. >> i will say i don't think
9:10 am
trump should criticize jay powell, and i don't think jay powell should leave. i think so far he's cone a good job. he's -- done a good job. he's managed this economy. it appears as if we're landing, we're going of to have this soft landing, but i don't think he should be criticizing. i think jay powell should stay until the end of his term. stuart: we've got a trump rally on our hands. >> yes, we do. stuart: do you think it has legs? >> i think for a couple of weeks, and then the i think people are going to start to refocus on earnings and the outlook. we've gotten some great earning, but it's been the forward guidance that's actually continuing to push this rally, so i think people are going to start the to focus on that. i don't think they're going to continue to say the rally's buff trump -- because of trump. the economy's good, there's great forward guidance, that's what's going the drive the rally. stuart: stay there, you are with me for the hour. illinois' governor, pritzker, he's warning trump not to come after his progressive policies.
9:11 am
>> i would remind you that a happy warrior is still a warrior. you come for my people, you come through me. stuart: and in california governor newsom called a special session to protect the liberal policies from trump. it's the rise of the resistance. and "the view"'s sunny hosten accuse latinos of my song nebraska. listen. >> latinos in texas, a district that's 97% latino went 75 percentage points for trump -- >> misogyny. >> no, it's the border. the border crisis was on their doorstep. stuart: florida congressman carlos gimenez if will have a lot more to say about that. the congressman is next. ♪ if i know i'd go back to you. ♪ if. ♪
9:13 am
do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some 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
9:14 am
insurance. silver is at a ten year high. kootenay silver boast one of the largest resources owned by a junior company with a new high grade discovery in mexico. the potential for growth and leverage to silver is significant. kootenay silver. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job on indeed, it's easier for talented candidates to find it. which makes it easier for you to hire them. visit indeed.com/hire
9:16 am
stuart: futures point all over the place, up 39 points for the dow, down 45 for the nasdaq, a split decision at this moment. check out bitcoin, please. the price now $76,100. earlier it mitt a record of $-- hit a record of $76,900. biden has previously called a trump victory a threat to democracy. he's now assuring us we're going to be okay. peter doocy at the white house. biden's tone's changed, okay. but are the democrats still fear mongering? >> reporter: not really, not for the most part, suh. officials here at least at the white house are no longer say thing that donald trump's victory will destroy democracy
9:17 am
or strip women of basic rights. but they're not apologizing for all the times they did say that either. >> the message to people who are fearful -- >> well, now you're just twisting everything around -- >> [inaudible] >> no, no, no, it's unfair. because i've been end standing here trying to be very respectful the what happened the last two nights -- two nights ago. being respectful. >> reporter: axios has published new details about what harris told staffers post-lost9. -- post-loss. yeah, this stucks. we all just speak truth, why don't we, right? there's almost so much good that has come with this campaign. quote, it was detached from the reality of what happened, one said. we are told the fate of democracy is at stake and then the message was, we'll get them next time. next time may come quick according to somo house dems.
9:18 am
>> a lot of us remember, congressman, you led the charge in investigating trump. how do you hold trump accountable now without control of the senate or likely, for in that matter, the house and after the u.s. supreme court granted him major presidential immunity? >> well, we're going to discover the answer to your question as we go through this over the next several years. >> reporter: president biden's off to the beach house in delaware today, vice president harris still here in washington d.c. her staff tells us she's got internal briefings and meetings. they've not yet told us when she is going to resume the business of the vice presidency. stu. stuart: peter doocy at white house. all right, thank you, peter. trump made historic gains with hispanic voters in this election. our fox news voter analysis shows that 41% of hispanics voted for trump, and that's up 6 points from 2020. florida congressman carlos gimenez joins me now.
9:19 am
man, so what do -- congressman, what do thinks panics want from trump now that he's got the power? >> we want the make america great again, that's what we want, just like everybody else. we want our prices to be he concern lowered, we want our energy costs to go down. we want to be energy independent and dominant. we want america's standing in the world to rise again. we need to control the border and and this mass illegal immigration that happened under the biden administration. all the same things that most americans want, that's what hispanics want. stuart: there was one county right on the border, it's in texas. i think it's the 997% hispanic --7%, and they voted for trump. that was an extraordinary the result. i don't think they've ever voted republican before, have they? >> no. but when they see 10 million immigrants coming through the border running through their areas and they are the against illegal immigration and for legal immigration and it's the all due to the, you know,
9:20 am
biden-harris administration and trump will, has promised to control the border and control illegal immigration, i think that's a pretty good reason why everybody there voted for donald trump. stuart: i want you to the listen to what massachusetts governor maura healey had to say about trump's threat of mass deportations. >> if the trump administration requests it, would the massachusetts state police assist in mass deportations? >> no, absolutely not. but, you know, let me say this, i do think it's important that we all a recognize that there's going to be a lot of pressure if on states and state officials. and i can assure you, we're going to work really hard to deliver. stuart: that's interesting. maura healey, governor of massachusetts, she's starting the the resistance. she won't allow deportations, she won't let the state police take part in it. what can you do about that is? >> no, she has nothing to do with deportations, and she can't stop it. it's a federal process.
9:21 am
i.c.e. is a federal agency. the fact that they won't cooperate, that's probably already written into the equation. i know we're going to have states that are not going to cooperate. we have cities that are called sanctuary cities. they don't even tell us when they arrest a illegal immigrant under normal charges. so, yeah, that's just par for the course. we have to work around it. you know, some states will cooperate, some won't. but i don't think that's going to deter donald trump from what he needs to do. look, we need to abide by the law. there are people here, they need to have their day in court. if they're pound, that they don't have a valid -- found that they don't have a valid asylum claim, they need to be deported. the federal government's going to follow law that the state governments aren't going to help hem in. that's something they're going to have to go around. stuart: congressman, listen to what sunny hostin had to say about latinos who vote for trump. >> pocket ifbook issues matter more than if a woman in
9:22 am
alabama -- >> but they're going to do worse in under a trump administration. >> a district in texas went 75 percentage points for donald trump. why? >> misogyny, that's why. >> no, it's on the border. it's op on their doorstep, and they were begging people to care about it -- >> it's about sexism. that's' what that was. stuart: she's add minute. misogyny did it. you've got a smile. have at it, sir. of. [laughter] >> yeah. we're misogynysts, sexist, racist, a whole bunch of other ists, i guess. i hay just can't stand the fact that we're rejecting their policy. we don't believe it, all right? we're to going the other way. so if you're rejecting somebody, it's the easiest thing -- well, it can't be me, it's got to be you. it's because you're sexist or misogynist. it's not the fact that my policies are crazy. no, it's got to be you. that's a good way to to win friends and influence people. just keep on insulting us and
9:23 am
see how we go back99 to the democrat party, okay? yeah, that's to good. i like it. stuart: you've still got a great sense of humor. congressman gimenez, we always appreciate it. thank you, sir. >> oh, thank you. [laughter] stuart: congressman, democrat ro khanna, he says there's one thing kamala harris should have done. what would that be, lauren? lauren: go on the joe rogan podcast. watch. >> i'm confident we're going to rebuild in 2026, and we'll win back the white house in 2028, and we've got to get back -- we've got to listen, we've got to go on some of these podcasts. i was just on all in. go on all the podcasts and listen to what we need to do and have a compelling economic message. i'm sill very hopeful about the party and our future. lauren: yeah. so joe joe rogan's audience is 80% male. that is the demographic that harris wasn't speaking to enough. is that why she lost? no. but she spent the first half of
9:24 am
her campaign avoiding the 40 media at all costs. and her opponent, donald trump, literally ran to the media, spoke to any and everybody loosely, off the cuff. there was conviction behind what he said. he was authentic. she couldn't think on her feet, she never organically connected, and her message was flip-flopping, and she didn't explain it. stuart: and i believe by the time rogan was with trump, it got 500 or even 60 million views on youtube. extraordinarily high number. lauren: yeah. the initial was 45 million, i believe. stuart: i think it went up from there. lauren: yeah. three hours long. talking for three hours. stuart: and he can do it. i don't think she could. check futures, please. we'll go quickly to the break. the dow up 43, the nasdaq down 443. we'll be back -- 43. ♪ -- cold beer on a friday night. ♪ a pair of jeans that fit just right and the radio on ♪
9:25 am
9:26 am
hi, i'm damian clark. i'm here to help you understand how to get the most from medicare. if you're eligible for medicare, it's a good idea to have original medicare. it gives you coverage for doctor office visits and hospital stays. but if you want even more benefits, you can choose a medicare advantage plan like the ones offered at humana. our plans combine original medicare with extra benefits in a single, convenient plan with $0 or low monthly plan premiums. these plans could even include prescription drug coverage with $0 copays on
9:27 am
hundreds of prescriptions. and medicare advantage plans ensure that your covered medical costs will never go above a maximum out-of-pocket amount that you know beforehand. most humana medicare advantage plans include dental coverage with $0 copays for covered preventive dental services. vision coverage that includes vision exams and a yearly allowance towards eyewear. even hearing benefits, including routine hearing exams and coverage towards hearing aids. there are $0 co-pays for in-network preventive services like annual wellness visits, mammograms, and prostate exams. and $0 co-pays for routine vaccines and telehealth visits. you get worldwide coverage for emergency and urgent care when you travel, so you can have peace of mind when you're away from home. and of course, you should be able to see the providers you like. that's why humana works with multiple large plan networks of doctors, hospitals and pharmacies. so, get the most from medicare with a humana
9:28 am
medicare advantage plan. you can have more coverage than with original medicare with $0, or low monthly plan premiums, and a yearly cap on your out-of-pocket costs. it's called medicare advantage for a reason. so, call a licensed humana sales agent today to learn more, and to request a free decision guide. remember, annual enrollment for medicare advantage plans ends december 7th. humana. a more human way to health care. stuart: three minutes -- two minutes to the opening bell9 and the dow's up 48 points. hardly any gain for the s&p. nasdaq down 30. kyle wool with me this morning.
9:29 am
how will a trump presidency help the a.i. industry is? >> i think it's great. i think he's going to open up the pipelines, lower the cost of energy. i think you've got tax cuts and more importantly than anything else, deregulation. the most recent president, joe biden, did an executive order putting regulation on a.i. i think trump's going to repeal that. i think big tech's going to be all over that, you're going to see more money with tax cuts, deregulation from the the large, big tech companies investing many in a.i. stocks that have done so well. i would be a buyer of the stocks each though they're up a lot. i'd still be a buyer of nvidia, i love the data center companies like vertiv, i love she let's ca and the nuclear companies are still going up if you look at vistra and smr. stuart: are you going long on anything musk-related, and if so, why? >> i'm going long on anything elon musk related. he's at the right hand of president. he helped him win this
9:30 am
presidency. if you look at tesla over the last few days, stock is going up. it's almost $1 trillion market cap. trump's air riffs in china the will trouble help tesla. there's rumors on the street, only rumor, that tesla's going the put $5 billion along with nvidia in elon's xai company. spacex, i think it's only going to get closer and closer with the government. elon's dominating the space race, and he's dominating the satellite race with starlink, so i'm longest loan. i think elon right now is a pretty good investorsment -- investment, stuart. stuart: what's the vehicle i use to get to support musk? because i can't get into spacex. it's tesla, isn't it? as a proxy for musk? >> i think tesla's great, and i also think with their optimus robots coming down, investing in tesla you're touching a little bit of elon musk's universe across the board. stuart: okay. i'll touch a little tesla, why
9:31 am
not? if thanks a lot more joining us. appreciate it, kyle. we'll talk to you later. the market's open, and we've gone straight up. will you look at that? the dow industrials are up 150 points right from the get go, and more than half of the dow 30 are in the green, going up. s&p 500, a small gain maybe? yeah, 7 points. not much. .13%. the nasdaq composite is actually down 11 points, a tiny fraction, .006 down. -- .06 down. big tech is all over the place. apple the only winner at 227. meta just turned north, up 202 cents. microsoft is down 7 cents, alpha get, 28 cents. amazon, 93 cents. the dow, by the way or, 43,848, all-time high. take a looked at nvidia. today it officially replaced intel in the dow jones industrial average, $148 a share. now it's $148.95, up 7 cents.
9:32 am
all right, check out, please, trump's media stock, djt. it's up just 1% this morning. it had been down earlier, taylor. what's going on with this thing? >> really volatile. i. come to you with, as i always say, stu, unfortunately, with no fundamental news. but it is a way we track the presidential rex. we know this stock was always going to be the volatile, but what's interesting, i was reading so many notes saying if he wins, this was going to go to the moon. obviously, it's not. you're back down to $27 a share. hang tight, not a whole lot of fundamentals. stuart: kenny, you don't touch it -- >> i don't ouch the it. i think you're right, i think it was just all about trump. of it was the excitement about trump. i wouldn't -- i don't own it, i wouldn't own it. it's not a name that i'm in, and to your point, i don't think there's a fundamental story there other than trump. stuart: okay. take a look at the cryptos, please. i presume they're up on the grounds that bitcoin has been close to a record high this morning. bitcoin, a new high? >> yeah. so we were nearing -- i think almost 77,000 overnight because
9:33 am
again, remember, this is an asset class, if you will, that does not ever stop trading. but unbelievable if you're looking at $76,000 on bitcoin, etherium too a big rally. not quite near a record there. but again, all the upto- do crypto-related stocks, coinbase was at a record a few days ago, so you're seeing the derivative stocks of the classic bitcoin. stuart: kenny, how do you play cryptos? >> i dip my feet in crypto. i know adam johnson loves coinbase, i just dip my toes right into bitcoin. stuart: you own bitcoin itself. >> yeah, i own bitcoin itself. stuart: you don't trade it -- >> i don't trade it, i just keep buying it. stuart touter kenny polcari, all right. let's get some individual stocks. air bn airbnb down this morning, i think, down that werely. >> this is an interesting story because they said that they did well. revenue was up about 10%
9:34 am
year-over-year, but this is a cane that -- company a the that gets the majority of exposure from overseas. unlike expedia which we'll talk about later, this is not as exposed to a strong u.s. consumer. they said they're going to be pivoting and looking at sort of those expansionary marketing something, clearly, that the street wants to see. stuart: there's a travel booking platform, and and it's called expedia. we all know it. it is the up this morning. nice, solid gain, 6.8%. strong demand for travel? >> yes. gross bookings and raising full-year guidance. this is a company that that unlike airbnb gets two-thirds of its revenue from a u.s. domestic consumer. they say holiday travel here in the fourth quarter looks really strong, is they're benefiting, clearly, from that. stuart: let me tell you real quickly, we've got a new high for the dow and we just hit a new high for the s&p 500. trump rally continues. then we have affirm, that's the buy now, pay later people. they had a good report, but the stock is down 3%. >> because since august 28th the stock is up 38%.
9:35 am
part of this is a little bit of a breather. also i might take a contrarian side. the firm benefits, clearly, from buy now, pay later. but if you're seeing a big increase, what also is that telling you about the consumer? part of me then starts to worry a little bit if everyone can't pay full up front. what does that mean down the road? stuart: that's interesting. all right, or we'll take your point. a big crop for pinterest. -- drop. 13%. what happened? >> this is a small company, right, this struggled to get eyeballs. if i'm an advertiser and i want eyeballs, i'm going to go if to meta. i might even go to snap. why would i pay to advertise on pinterest? they're clearly feeling that. this has been the story for a while. sometimes they do really well because they have been a bellwether after snap, but this is a case where meta and snap do well and, unfortunately, pinterest can't quite capitalize on that. stuart: okay, draftkings. i'm presuming they're down. they're not, but they made a big miss with their report, didn't
9:36 am
they? >> this is a great story, stu. do you not know this story? they said that, you know, they kid so well but, unfortunately, the house didn't cowell. the betters did well. they had to pay out so much money, there was an nfl game that they said all the betters were doing so well that, unfortunately, i think they might want to change the algorithm or something because the house didn't win. anyway, so their cost goes up. but it's a fun story and, clearlying or they're doing well. stuart: they need some las vegas oddsmakers on their side. [laughter] those guys are pretty good. kenny, you brought -- oh, you like some stock picks, and you're going with palantir. it's gone up nicely. >> it's gone up beautifully, and i think it's going to continue to go up. i i think palantir's is one of those names like nvidia or apple. you just buy it and own it -- stuart: you are you are the third or fourth on this program to say exactly that -- >> i think it has to become a foundational holding in most people's portfolios just because of the role it plays in a. i. and what we heard from them
9:37 am
earlier last week when they announced, right? their forward forecast, a very strong story -- stuart: you guys have moved the market. when we started talking about it in those kind of terms, you were at 38, 39 -- >> yeah. mid 30s or something. but look at it. i think it's going to continue on to go higher. it's had a nice move, so if it pulls back, i think that's great. i don't think people should get nervous, i think it has to digest. as a long-term investment, you've got to own it. stuart: i sit here every day and listen to this good advice, palantir's another one that i missed. digital realty the trust, this is all about those data centers. >> it's all about the data, and this one has been an outstanding performer this year as well, a direct result of the data centers. i think this is another name that people should look at. i don't think it's too late because this is an ongoing story the as well, right? people say, oh, it's already up. guess what? it's going to continue to go higher. stuart: all right. the trump rally continues. we're seven minutes into the trading system. thanks so much, taylor. see you next week, guaranteed.
9:38 am
coming up, trump managed to flip 10 counties in california from blue to red. is that a real shift happening in the golden state? our california guy, steve hilton, will fill us in. espn host steven a. smith ripping into the media for inexcusable election coverage. >> what was done was inexcusable because it was favoritism in the media, and it had no place in it for a presidential election. you gotta call balls and strikes. stuart: strong stuff. joe concha's going to comment on that later in the show. more "varney" after this. ♪ ♪
9:39 am
(husband) we just want to have enough money for retirement. (wife) and travel to visit our grandchildren. (fisher investments) i understand. that's why at fisher investments we start by getting to know each other. so i can learn about your family, lifestyle, goals and needs, allowing us to tailor your portfolio. (wife) what about commission- based products? (fisher investments) we don't sell those. we're a fiduciary, obligated to act in your best interest. (husband) so how do your management fees work? (fisher investments) we have a transparent fee, structured so we do better when you do better. at fisher investments, we're clearly different.
9:42 am
this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo meet kandi technologies, where innovative, eco friendly design meets exceptional performance. our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment opportunities. kandi technologies. stuart: 12 minutes into the trading session if now it's it's all green. dow's up 600, nasdaq's up -- 60,
9:43 am
nasdaq's up 15 points but in the green. moments ago the dow and the s&p hit all-time highs. we have retreated just a little, but we're still 43,784 on the dow. trump has selected susan whiles to be his white house chief of staff, the first woman to ever hold that position. bill melugin joins me. what do we know about her? >> stuart, we know she likes to keep somewhat of a low profile, but she's very well liked and very well respected by donald trump and his inner circle. who is susie wilesesome she was trump's campaign co-chair for this successful 2024 campaign. she was trump's florida state director back in 2016. she previously worked for ron desantis and rick scott. she was also a scheduler for president ronald reagan back in the 1980s, and on his big election night win, trump the expressed gratitude for her during his speech. take a listen. if. >> let me also express my
9:44 am
tremendous appropriation for susie and chris, the job you did concern -- [cheers and applause] susie, come, susie, come here, susie. chris -- [applause] come here, please. susie likes to stay sort of in the back, let me tell you. the ice lady, we call her the ice lady. >> reporter: susie whiles did out of the shadows last week after mark cuban made his controversial comments posting on x, quote, i'm told mark cuban needs help identifying the strong and intelligent women surrounding president trump. well, here we are. i've been proud to lead this campaign. and back out here live, zeus is city whiles is now going to lead one of the most important offices in the white house. the chief of staff controls access to president trump and also will be one of his closest and top advisers: send it back to you. stuart: all right. now this, the lame duck biden administration reportedly already working to the undermine
9:45 am
trump. how are they doing that? lauren: they're going to make it harder, or they are making it harder for him to bring down gas prices. so they're trying to tie up drill, baby, drill in the courts on environmental concerns. two ways. number one, the biden department of energy is rushing this study that will look at the emissions of lng exports. if it's bad for the environment, trump is going to have a harder time green lighting lng export infrastructure. that's a big deal because oil companies need places to store their product so they can send it overseas and help our allies in europe. the second is anwr. so i didn't remember this, but back in 2017 with the tax cuts act, it mandated two lease sales in alaska. one is left, and the deadline is the end of this year. the white house is indicating they will lease the land but give them the bare minimum acreage. stuart: you know -- lauren: it's complicating. stuart: president-elect trump's got to do something about this.
9:46 am
you've got to reverse this nonsense about stopping lng, natural gas exports, and you've got to stop the krill thing all over the place -- the drilling. you've got to reverse course on this. but i don't see, kenny, no matter what i don't see how biden -- i'm sorry, trump can cut the price of oil from $70 a barrel in half to $35. how's he going to do that? >> i don't see it either. i think that's very aggressive. i'm not sure i see it. the country would have to go into a deep recession. you'd have to have demand out of china really plummeting or the saudis who are up upset about what's going on flood the market with oil, and they'll try to put pressure and pain on u.s. producers. stuart: why would i buy an oil company stock now if the price is going to come all the way down? >> i don't think you buy them right now. i think you step back and just wait and see. there are other things like energy transfer, that's a stock that people should buy, it's a great dividend payer. i think that's the way you might want to pay it, but with i wouldn't necessarily be buying
9:47 am
the energy stocks until we get a better sense about how this is going to play out. stuart: thanks, kenny. check out that big board, please, where are we now? 43,825. look at the dow winners. always good to look at the winners. unitedhealth up 1.66%. walmart's in there. mcdonald's, travelers, home depot. the s&p 500, the winners there, please. axon enterprises. aren't hay the a taser people? i think they are. heir up 12%. they're up 12% expedia, nrg energy and molson coors beverage. the nasdaq composite, fortnet, don't know that one, t-mobile -- lauren: mercado libre. stuart: thank you very much, indeed. you're very useful. [laughter] trump won big in -- on tuesday, now we're finding out just how big the victory was. democrats are stunned. that's going to be my take, temperature of the hour. republican dave mccormick
9:48 am
9:49 am
9:52 am
♪ ♪ stuart: big news here. republican dave mccormick has defeated bob casey in the pennsylvania senate race. brian yen, maas in philadelphia. bryan, this was a very close race. is there going if to be an automatic recount? if >> reporter: stuart, good morning. it is a very close race. it has been called by the associated press, and they are still counting ballots in pennsylvania. under law there's an automatic recount if there's a .5% different, right now it is .522, so right now, no, no automatic recount. let's take a look at the balance of power in the senate. republicans now with 53 seat in the senate. democrats with 45. the republicans flipping ohio, montana, west virginia and, of course, now pennsylvania.
9:53 am
senator-elect dave mccormick completing a remarkable comeback, defeating the three-term incumbent democratic senator bob casey. mccormick never led in the average of polls, and at one time he was down 8 points to casey. here's mcif mcif corps -- mccormick on the big win. >> i think what made the difference is people want change. i think they represented that desire for change by electing president trump. i think the same with me. i think they're deeply distress by the skyrocketing prices, the wide open border, the crime in our cities, the war on fossil fuels, and they want change and common sense leadership. >> reporter: interestingly, casey has not yet con to ceded. pennsylvania continues to count some 100,000 ballots. it's a stunning loss for casey who won six statewide elections and has a real family legacy and name recognition here in pennsylvania. meantime, the arizona senate race are continues to tighten. congressman rubin guy yea go's
9:54 am
lead has shrunk against republican kari lake. guy yea bow is up about 7% with more than 700,000 votes left to count in nevada. the senate race and presidential race remain too close to call with more than 2000,000 ballots left to count. democrat jackie rosen is up by liz. over -- little over a point. and the house of representatives is still coo e too close to call, about 25 the races still up in the air including 111 in california. back here in philadelphia, stuart, philadelphia -- trump had his best performance here yet winning 20% of the vote and republicans flipped two congressional seats red here in pennsylvania, a real tipping point for the now-president-elect. stuart? stuart: it certainly was. bryan, thanks very much. now this, msnbc host joe scarborough seems to be a little out of touch with grocery prices. >> three weeks ago somebody who was going to be voting for kamala harris came up to me and said, or oh, my god, trump's
9:55 am
going to win. i go, why is that? he goes, i went in the grocery store. butter's over $3 -- >> $55. >> everything we're hearing after the election -- >> i'm just saying concern. [laughter] >> $7. >> what's that? butter is $7? >> yeah. >> is it framed in gold? [laughter] lauren: $7. >> has he been? stuart: our favorite chef, kenny polcari, is sitting right here. so totally out of touch. >> where has he been over the last -- stuart: go do it. >> 100%. the fact that he's surprised that butter is $7, he thought it was 3. 3 would be a bargain. lauren: it's on sale -- >> when it's on sale, it's not even 3. stuart: that bubble he lives in is going to burst. >> 100%. stuart: coming up we're boeing to ask former nato ambassador
9:56 am
kurt volker what trump's win means for iran and the middle east. of. california governor newsom calls a special session of the legislate hur to resist trump. i think he's looking at 2028. steve hilton react to that. and tom homan,, he's going to react to mexico's migrant caravan breaking up after news of trump's victory. there's a story. democrats can't seem to figure out why their message failed. tammy bruce will tell 'em in no uncertain terms. she's here, she's walking towards the set. it's friday morning. tammy bruce on her way, ladies and gentlemen are. the 10:00 hour is next. ♪ if. ♪ ♪
9:57 am
(cheerful music) (phone ringing) [narrator] not all multi-millionaires built their wealth the same way, you have... the fearless investor. the type a cpa. .. the bootstrapper. the bootmaker. yeehaw [narrator] but many do have something in common. we all trust schwab with our wealth. [narrator] thanks to our award-winning service, low costs and transparent advice. every day, over a million multi-millionares trust schwab with more than two trillion dollars of their wealth.
9:58 am
municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-763-2763.
9:59 am
we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm
10:00 am
skeptical, so i did some 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. stuart: is that how you pronounce it -- i am so out of touch.
32 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on