stop. this should be cease -- they can fight trump on some other front, but let's not is have another one of these tragedies that's entirely preventable, and it's an example of this administration putting politics ahead of public safety, and it's totally disgusting. maria: yeah. a word to my if democrat friends, i don't think the resist is going to happen time. it's not going to work. we all watched the trial. by the way, what happened? he comes to america illegally, he hangs out in new york for a while, and then he gets a prepaid flight on biden to wherever he wants to go. oh, i'll go to georgia, and then he murders somebody. >> and gets arrested here -- >> donald trump has a mandate. get those 14,000 convicted murderers, illegal immigrants out of this country, 1.3 million who already have -- maria: all right, we've got to jump. you're fired. varney and company up next, take it away. [laughter]

stuart: what wases that, you're fired? if. maria: i'm talking about illegals, not trisha. trisha's not fired. stuart: i got it. good morning, maria. good morning, everyone. it was exciting. nvidia's numbers rolled in late wednesday afternoon, the king of a.i. chips turned in a spectacular report. revenue if almost doubled. $35 if billion in one quarter. the ceo with, jensen huang, says the a.i. gold rush continues full steam. his words. if however, because the numbers weren't spectacular enough, the stock dropped initially. but look at it now, it's coming back, up $2 in premarket a action. another financial headline, bitcoin hits $97,000. there are reports that the white house is considering appointing a crypto czar. trump is cleary helping bitcoin. -- clearly helping bitcoin. politics, elon musk and vivek ramaswamy lay out their cost-cutting plan in today's "wall street journal." they would submit a list of regulations to president trump, he would take executive action to pause or abolish them.

they take their authority from recent supreme court rulings that santorum down the power of federal -- that struck down the power of federal bureaucrats. the markets. the dow industrials looking for a gain of about 1000-odd points can -- 100-odd points at the opening bell. green on your screen. interest rates, not that much change. the 10-year treasury well below the 4.5% level, you're at 4.40. the 2-year at 4.31. the price of gold, $2,693 an ounce, up $18 today. oil, last time i checked it was around $70, that's where it is right now. gasoline, $3.06 per gallon. diesel, $3.54. the markets. on the show today, the green dream is fading fast. politico reports the trump administration if will consider less are recollecting the keystone pipeline. the greens got it canceled because it carried positive fossil fuels. it may be back along with trump's drill, baby, drill.

separately, the cop 29 climate summit is breaking up in disagreement. delegates can't decide how many trillions of dollars they want for poor countries to mitigate climate damage. and we're going to bring you the latest on the down and out -- dowmp in the dumps, i should sa. numbers at home sales coming at us in one hour. heads up, realtors, that's a big deal. thursday, november 21st, 2024, "varney & company" is about to begin. ♪ goo big or -- go big or go home ♪ stuart: wait a minnesota, go big or go home. is that that the name of the band? american authors? >> yes temperature stu, i'm going to clue you into something. the second line the is always the name of the band. lauren: i don't think with i've

ever heard of them. stuart: have you ever heard of american authors? >> yes, i've heard of them. >> i like the song. >> i'm just clueing you n. it's always the name of the band in that show on that bottom line. i'm here to help. stuart: we've got a panel this morning. a. >> futures are up, you know, why not? we have got trump coming in, there's a lot to to like. stuart: okay, okay, let me start. good morning, everyone. we start with money. nvidia reported earnings after the bell wednesday. strong report. morning, lauren. the stocks has under the around. lauren: i prepare prepared the report when the stock was down and, you know what? it still stands because it was a good report card. $35 billion in re newark up 99 44% from -- 94% from last year. but in previous quarters revenue had increased 260%. still good. blackwell,s that's the new chip. four times more powerful than the old one, the hopper. and guess what? they are already in the hands of microsoft and openai.

ceo jensening wang says blackwell will produce several billions in revenue next quarter with. they're expense we've to produce, that could be a negative, but that's billions of dollars. i counted 12 price target up creases, one at 195. -- increases. blackwell is the new oil and new gold of this new revolution, and corporate investments are just scratching the surface. two the final points, nvidia, $4 trillion? right around the corner. nasdaq 25,000, when does that happen? what does nvidia need to do and some of the other big cap players need to do for us to be talking about that? >> wow. [inaudible conversations] >> happy thursday morning. stuart: adam johnson is with me this morning. nvidia had this great report, the a.i. gold rush is full steam. what does that say about the stock price in the future is?

>> well, i think nvidia's cheap, and i'll tell you why. i think nvidia at some point over the next four, maybe five quarters is going to generate $5 in earnings as opposed to to 4 over the past four. if the stock is trading at 150, that divided by 55 is a 30 pe ratio -- 150 divided by 5 is a 30 pe ratio. you could buy the s&p 500 for 23 times earnings with so % growth -- 10% growth or nvidia with 30 times earnings with 75% growth. it's cheap. i know at $150, a new all-time high, i think it's cheap. i own it, as you know, as do my client, and i'm certainly not tell -- selling it anytime soon. stuart: all right, stay right there. another financial headline this morning. a new high for bitcoin. it surged past $97,000, it's 97,4 right now. trump's going to create this crypto czar. that doesn't hurt at all.

lauren: not at all. you either get a crypto czar or a dedicated full-time white house staff position to oversee crypto policy. and the report says that the transition team is consulting to see if they do need that position. bitcoin well above $97,000, it's up 40% in two weeks, 40%. the market cap of bitcoin has increased by $900 billion since, what, move 5th. and $4 billion is have gone into the bitcoin etf since november 5th. stuart: okay. and i dismissed it a couple of years ago. lauren: we all did. stuart: thank you very much. msnbc host chuck todd says trump's recent nominations were feud by revenge. todd piro's with me this morning. what do you think, trump out for revenge? >> it's been two weeks, over the two weeks, the mainstream media still doesn't understand why trump won. as evidence of his hypothesis that this was all about trump revenge, he cites two thing,

stu. he cites trump's picks of hegseth and trump's picks of musk and vivek to do the doge stuff. let's start with hegseth. hegseth literally wrote a book about how he needs to clean up -- or how we need to clean up the department of defense. and, yes, as part of that he says need to fire generals who are focused more on woke stuff thanking having our soldiers know how to kill people and defend our country. call me crazy, that's what our military is there for. they need to learn how to kill. i know it sounds harsh, but they also need to learn to defend our country. that's why trump picked hegseth and other people in that orbit. with regard to doge, he's going to purge non-political work force. you're darn right he is. we have a lot of people that do nothing and that are a waste of my and your money. stuart: but they are political. they're not a nonpolitical concern. >> and that's a great qualifier. everybody in d.c. when you rook at the numbers, 9 8% of the people voted for kamala or

somely ridiculous number like that. they may be nonpolitical in title, but many reality they are. that's beside the point, they're unnecessary if. stuart: how about this one? nate silver, the well known pollster, he's concerned biden is not mentally fit enough to serve out the next two months. he wants biden to resign and let harris become the first female president. now, that is a long shot, long shot and a half. sometimes democrats will do anything to get a woman is -- in as president. >> this isn't the first time we've heard this theory, it's not the last. i would argue if you think joe biden is going to be you have rough for the next two months, where were you the last three and a half years? i don't think i'm being unduly harsh. you've heard the democrat party come out and say that very thing. if you're worried about what's going to happen to the country over the next two months, should have been worried the last three and a half. at the end of the day, let's be frank here, there's an institution in place to keep joe biden from worse. and they will be in charge the

next two months until donald trump takes over in january. stuart: i'd like to know who is really -- >> we would all like to know. >> we already know. it's barack obama. >> we don't know that necessarily -- stuart: who's pulling the strings behind the scenes? jill biden, the first lady? the secretary of state? third in line for the presidency anyway? we don't know. we can say that president biden is not in good shape, and we're not entirely convinced he is taking these major decisions like land mines for ukraine with, long distance missiles going to ukraine as well and maybe also shoving through half a trillion dollars worth of green spending. >> i agree with that. to use a football analogy, we need to be in prevent defense for the next two months, but often times that prevents you from winning. hopefully, it doesn't prevent us from worse. of. stuart: all right, we're off to a good start i would say. coming up, secret german documents reveal the country's preparing to mobilize 8ing 0000,000 troops incase russia

invades nato. we'll ask former state department official christian whiton. vivek ramaswamy touting business expertise as they make plans for the department of government efficiency, edge to. >> over the last four years, even to conservatives, we've talked about reducing the scope of the federal government. politicians haven't been able to do it, so elon and i, we're not politician, we're businessmen. stuart: my opinion? this may be the best opportunity yet to really cut the cost of government. oversight chair james comer will probably agree with me. the congressman is next. ♪ it's been a hard day's night -- ♪ and i've been working like a dog. ♪ it's been a hard day's night ♪ i should be sleeping like a log ♪ there are meet the travel. the thrill seeker. the soul searcher. and - ahoy! it's the explorer! each helping to protect their money with chase.

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stuart: 15minutes until the opening pell and i see green. dow can up about 140, nasdaq up 128. nvidia has turned to the positive side is. that's helping the nasdaq. box in 2016, trump showcased his cabinet picks at bed min if steph is the -- bedminster. in this time around he seems to be operating differently. alexis mcadams, seems like the decision making is happening behind closed doors in mar-a-lago. >> reporter: hey, stuart, yeah. what better place to do it than in beautiful palm beach, florida? if he's working hard to try and confirm those picks, but frump's that he was going to shake up washington, d.c., and that's exactly what he's done with these cabinet picks so far. there has been a lot of controversy surrounding a few of them including pete hegseth who's back up on capitol hill today in washington, d.c. for

some meetings. take a look on your screen, okay? this is new video that came into our newsroom. hegseth is trump's pick to lead the department of defense. he's having meetings with republican senators today, he was spotted there a short time ago. those meetings come as the 444-year-old veteran faces questions about his confirmation after a past sexual assault allegation that he has conditioned. senator josh hawley says he's going to vote to pass all of trump's picks. >> i would just say to my senate colleagues, listen, let these guys testify, give them a shot. i know some of these senate gop if focus are say, oh, i've got concerns. that's what a hearing is nor -- is for. at least allow them to make their case. >> reporter: and hegseth will have a time the make his case, and he's getting ready for that. trump's pick for treasury secretary is also expanding here, okay? take a look at these names according to various reports. they have kevin war with, at the top, a disturb washington, at the top, he's one of the top

picks. mark rowan, the ceo of apollo global management, is on there. that would give him a voice in major policies for private markets, and also trump's looking closely now at republican senator from tennessee bill hagerty. haggerty is a former private equity investor who was trump's ambassador to japan and is now a top contender. also other names floating around, so we'll see what happens. this week trump's tapping matthew whitaker to be the next ambassador to may toe. he says whitaker will strengthen relationships with nato allies but still put americans first. president biden recently giving his permission for the use of long-range american missiles to be used. back out here live in palm beach, this is getting a lot of interest right now. trump is eyeing a crypto czar position, okay? he wants somebody who could be an expert if on cryptocurrency. as that search continues, we're told you can look, the price of

bitcoin, right, it's going up and up. we'll see what happens, stuart. stuart: it's moving fast, alexis. thanks very much, indeed. now this. the house ethics panel says they will not release the report on trump's attorney general nominee, matt gaetz. trump's looking for a recess appointment. house oversight chair congressman james comer with me now. mr. chairman, would you be okay with trump pushing gaetz through on a recess appointment? >> yeah. i think that gaetz deserves a chance. i've served with gaetz. he and i came into congress together at the same time. he's very smart, and he's been right all along about the abuses of the deep state. donald trump was elected with a mandate to go in and drain the swamp, and i think the department of justice deserves a guy like matt gaetz to come in there because they've violated the public trust, they've committed many abuses of power, and we need someone to go in and disrupt it. matt gaetz is who donald trump chose, the american people chose

donald trump, so i think gaetz deserves a chance. stuart: he's being paraded around the senate though as if he's going to face senate hearings. i guess it's up to senator john thune, is that accurate? >> that is accurate. if i think gaetz will do fine during a judiciary hearing. if i were gaetz, i would want a judiciary hearing. i know that trump president trump's biggest concern is probably how long it takes the senate, and we all know the senate isn't known for their speed and efficiency. but at the end of the day, i think matt gaetz can handle himself in front of a group of senators. stuart: musk and ramaswamy revealed their plans for the department of government efficiency. they plan to use executive orders to cut down on the bureaucracy and reduce spending. a lot of people have tried to cut government spending, most of them have not succeeded. can musk and ramaswamy actually do it? >> i think they can. they've got willing partners in congress this time. we've got a republican house and republican senate.

there are a lot of things that republicans disagree on in washington with. we've seen that play out over the last two years, over the last decade. but one thing we all agree on is we can't continue to spend $1.5 trillion a year more than we take in. and we all agree that this government is broken in washington d.c. there's too much waste, fraud, abuse in this -- and mismanagement in every agency in washington. we need to shrink the size of government. government has held the private sector the back. we've got two titans of the private sector leading this effort, and i think we're going to finally get it done, and i'm really excited about this new effort from the trump administration. stuart: you're going to create a doge subcommittee? what will it do? >> we're going to work with very closely with elon musk and ramaswamy. we've had initial conversations. we are serious about reducing the size of government. there are too many fat cat federal bureaucrats here in washington, d.c., and stuart, they're not even going to work here. i had a bill last, last year

called the show up act to require federal employees in washington to actually show up for work. they're still working from home because of covid here. and, you know, that's unacceptable. the efficiency in the federal government has always beened pad bad. -- been bad with, it's terrible today. we don't need this many federal employees. we have too many rules and regulations that are holding the private sector back. all of this false under the jurisdiction of the house oversight committee. we are going to get the chopping block going here in washington, d.c., and we are going to whittle down the size of the federal government. we're going to work closely with this new doge deal that trump's created. stuart: okay. get the chopping block ready. good stuff. >> yeah. stuart: congressman, thanks very much for joining us this morning. >> thank you. stuart: senator elizabeth warren slamming elon musk for his involvement in the trump administration. what's the problem? lauren: senator warren, well, she's never been a fan of elon

musk, and now -- [laughter] she accuses him of only working to help rich people like himself. [laughter] >> least talking about doing $-- he's talking about $2 trillion cuts, financing it with taking away people's social security in order to give away more to billionaires. >> reporter: where do you propose the cuts start? >> 2 trillion is exactly the number that donald trump's tax proposal or tax cuts in 2017 have cost. so if he hadn't pushed through the tax cuts for billionaire, right now we'd have all the money we need. lauren: okay, stuart, respond. stuart: since when has anybody suggested cutting, slashing social security? lauren: cably. stuart: that's her. she's imagining this. she thinks that is a good political point to make, and it's utter nonsense. lauren: she's also attacking a man for being selfish and only wanting to enrich himself when

this is a guy that reuses rockets, makes electric vehicles, provided internet communication for victims of the hurricanes and those living in war zones, but he's only into making himself rich. stuart: what utter nonsense, but thanks for bigging -- bringing the story. >> democrats make up the narrative to fit what they want you to believe. stuart: watch out for socialists. thank you, lauren. lauren: you used to be one. [laughter] stuart: i used -- lauren: i'm sorry. stuart: 70 years ago. check futures. we're green across the screen. up 150 on the dow, up 130 on the nasdaq. don't you love it? the opening bell's next. muck a little less conversation, a little more action, please ♪

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stuart: all right, futures indicate an upside move on9 wall street today, green across the screen. jacob sonnenshein is with us this morning. you say there was a big selloff in big pharma when rfk jr. was appoint pd health and human services. big selloff. but you like am john and eli lilly. -- amgen. how so? >> absolutely. first of all, wren -- when you

look at what the powers of measures hs actually are, they can't do soming of the things like stop the reimbursements for certain drugs, lower demand. he's just not in that type of position 100%. what i love about lilley and amgen, they're both getting involved in what i think could be a more than $100 million market for obesity treatments. amgen has a phase one drug candidate still in trial, so there's so much upside potential -- potential, you have to see what that drug with do. stuart: i wonder how many people in the united states are actually using wegovy or drug, weight loss drugs. i wonder how many people. is it millions now? tens to of millions? >> i think it's probably more people than will tell you. [laughter]

stuart: that's for sure. if i get the pill, i would definitely not tell you. you brought a small play, abercrombie. what's so great? >> every -- they have the earnings next week, the stock's been knocked down a little bit. in the time that that gets settled out, you're going to have earnings coming in, probably pushing the stock higher because it's already been knocked down. what i love about what abercrombie's doing business wise right now, their -- they're taking share in a massive global retail market, of course we know. abercrombie's not a big company, not worth more than $10 billion, they've been growing same-store sales by getting people to come into the stores more, the brand is good, the product assortment has been good, pricing is pretty good. so you're getting 5-6% sales growth. if they can leverage that with a 10% eps, not bad. stuart: i used to call it abercrombie & fitch. i think that's still the proper name. jacob, thank you very much. the market has now opened,

and the dow is up 1600 points -- 1600 points right -- 160 points right from the get go. the s&p 500, obviously, opening as well. the result there is a gain of .41%. not bad. the nasdaq composite, solid gain, i think. yes,es it is. a half percentage point higher. 100 points up, and the nasdaq's at 19,000. how about big tech? i would expect to see 'em up. microsoft is up $3, meta up $3. apple up just a few cents. amazon is up -- down 80 to cents. alphabet down 3.55. that's, we're going to start, actually, with nvidia this morning. taylor, welcome. good morning again. >> good morning. stuart: nvidia just received a series of price target hikes, is that can correct? >> i mean, so many. so bear with me. goldman goes up to 165. rosenblatt goes up to 220 from 2000. wed bush goes up to 175 from

160. deutsche bank up. all of this means analyst, again, really excited about the company. some of the big notes i was reading this morning, this is a classic beat and a raise. the beat was a little better than expected, the raise maybe not as great, but this is a stock that's up almost 10200% year to date and -- 200% year to date. stuart: rising as we speak, by the way. >> as they should. by the way, stu, if you put $5 of earnings and a 40 multiple, that's 20 the 0, right? -- 200, right? if there you go. stuart: what a day. let's get to the early morning reports that we have today. john deere. i thought they were down earlie- >> you know, they were. they sort of turned things around. overall, i think analysts were thinking this was a pretty weak report. they cut guidance back in may because the agricultural cycle's in a downturn.

revenue if fell about 28% year-over-year, so we'll have to see, again, why the stock is positive given some of the weaker numbers they've reported. stuart: up nearly 9. bq's wholesale. >> remember how we talked about how costco was raising hair membership fees? if bj's is doing the same. classic membership, 60. club plus membership goes up to 120, but they hit a milestone of 7.5 million members, so they're excited. stuart: got it. okay. let's get up to speed on google and the department of justice trying to to force a chrome sale. stock's down $4 at the moment. >> we talked yesterday about how it could the fetch $20 billion if chrome were were forced to be sold off from google. i think a lot of people are looking at microsoft 20 years ago where they did not have to break up because a court of appeals court came in and overturned the district court ruling. could we get this, could a

district judge say i'm not going to do something draconian, or do we wait for a court of appeals to overturn this ruling. chrome is, of course, thing big player for google. it's not an asset they want to lose. stuart got it. adam, what have you got to say on google and if chrome? >> call it 60% of revenues at google come from ad search, right? so that's, you know, you've got toty 60% of the company? just to make the math easy, the the other 20% comes from analytics and the other 20 the % from youtube. they might be worth more apart. it's hard to say what's going to the happen, but a trump administration, i don't think, is going to break 'em up, so give it a few months. stuart: got it. bitcoin hit a new high earlier this morning. can you show me bitcoin, please? i believe you're at $97,000 a coin as we speak, and that's where we are. so they've got a czar. the white house is considering aponte pointing a bitcoin czar, a crypto czar, right in. >> yes. and if what i love about the

crypto story is then it impacts all of these stocks. we're talking about micro strategies, stu, right in microstrategy is this classic feedback loop. micro strategy sells shares to buy bitcoin which makes the price go up which means the price of micro strategy goes up because they own about.5% of --. 1.5% of all bitcoin on their asset sheet, and the loop has never stopped. we'll have to see if the loop eventually does stop, but for now it's going up record highs. stuart: up another 10%, not a bad. snowflake. i know they're a cloud company and they reported before the bell. they must have been doing really well, up 26%. >> yeah. so this is a strong the outlook for the company, and they are buying a company called data volo a basically just helps customers inject unstructured data, so nonlinear data in the platform. and, again, this is further a.i. products, right, that just help their customers do better. it is a product if right now that is very much winning.

stuart: 26, 27%. my goodnesses me. -- goodness me. starbucks, new stores but they're cutting staff. any change at all to the stock? >> we heard or from a filing yesterday, on wednesday, that employees of starbucks had actually been dropped by about 8% even though they were adding locations. staffing for employees has been a big problem. they said that we don't have enough people. we need to hear the from brian nichols, the new ceo, on what he plans to do on increasing staffing or not as they're expanding locations. stuart: shy of $100 a share. you've got to explain this to me, mcdonald's planning a new mcvalue offer for next year. what's this offer? >> okay. it's a continuation of the $5 value meal that we have all come to love. stuart stouter yes. >> but next year you also get a buy one, add one. so if i buy the value meal, i also get to add on something else from that value meal like a mcchicken sandwich, like a 6-piece chicken nugget with

fries, like a breakfast option. so basically this is mcdonald's trying to further expand that value meal because it drives customers into the store. stuart: i think i got that. okay, now i understand. [laughter] thank you very much, indeed. by the way with, you can see taylor along with brian and jackie on "the big money show." ed today they have a small business revival town hall. it's here on fox business. it starts at 1 p.m. thanks very much, indeed, taylor. adam, you brought a couple of stock pickings. you've gone back to the well with celeste -- celestica, don't blame you. >> yeah. this is a company that created a.i. platforms. you want the start a business, they make a.i. more powerful. it's soup to nuts. take a look at this, stuart. and the reason i mention it is we first talked about this stock down in the 40 tos, it's now at 90, so it has doubled. my point is when you're asking, adam, what are your picks, i've done the work is and i'm telling

you where i think you can double or triple your money. so my point is, please, pay attention. we've done a lot of work to make this happen. i don't always get them right, but i do a lot of work as do a number of the people who come on your show. stuart: sofi. the online bank. you recommended them some time ago. >> thank you. stuart: they've done very well. >> yes. we first talked about this at $5, it's now almost a saw. this was design -- at 15. the ceo is buying a lot of shares every time it went down. you know, he bought more. he's now, like, the enth largest shareholder -- tenth largest. here's one, we don't get them all right but, you know, we get more right than we get wrong. stuart: stay this or -- >> appreciate it. stuart: nvidia's ceo, jensen huang, he has an alarming take on the future of jobs with the rise of a.i.. watch this. >> a.i. can can do a lot of our tasks, but they can't do 100% of

our jobs. what is very likely is that a.i. will do 20, 30, 40% of 100% of the jobs in the world. stuart: really? if 40 president of all the jobs in the world presented by a.i.? -- done by a.i.? liz claman's going to be with us later in the show. republicans on the house ethics committee are blocking the release of their report on matt gaetz. house judiciary committee chair jim jordan's going to be here. trump's energy to-do list, reviving the keystone xl pipeline? what does that mean for the fading green dream? if economist brian wesbury is next. ♪ lord, i was born a rambling man. ♪ trying to make a living and doing the can concern --

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stuart: nvidia with, stop -- stock of the day, month, year,

who knows. it just ouch today an all-time high just a few moments ago. it's dropped back to 146. we've lost the value arely in the dow, the s&p and the nasdaq. we're down 50 on the dow. just happened just like that. a quick look at stanley black and decker. their ceo, don allen, weighing in on trump tariffs. he thinks that would send tool prices soaring. dead flat. president-elect trump's pick for treasury secretary, that pick is -- the selection is widening. edward lawrence joins us. ward, who's on the short list now? >> reporter: yeah, and we've seen three, now, interviews in the last 48 hours. apollo global management cofounder marc rowan as well as the kevin warsh. they both met with president-elect trump yesterday. two days ago senator bill hagerty spent the day with president-elect trump. the sources said haggerty would really like to be the head of treasury. president-elect trump wants a

disrupter like what he's doing with the department of government efficiency. that the will create waves in the market, so he also needs someone who will reassure the market that everything's okay. >> the trick, as you say, has been that trump wants to disrupt a lot of things fiscally, things like mass if deportations -- mass deportations, doge, right? there's going to be a lot of action on the fiscal side, so the question has been, does he need somebody who is a calming force for markets. i don't know that he does. >> reporter: the hill reporting that the president-elect wants to make the pick by the end of this week. former treasury secretary steve mnuchin says that person must do more than just focus on domestic problems. >> i think a big part of the treasury secretary's job has to be sanctions, so i think that's something that needs to get up and running very quickly. the iran sanctions need to be immediately put back in place, and we need to make clear to china and others not to buy iran oil. and i think there's a lot, there's just a lot to do on day

one. >> reporter: so that may favor senator bill hagerty who was ambassador to japan under the first trump term. we'll see what happens, stu? stuart: we shall, indeed. economist brian wesbury joins me now. brian, let me set out my story here. of trump plans to cut costs, cut regulations, lower taxes and then there's this drill, baby, drill. if he gets owl of -- all of that, does all of that, will we get 4% growth in the economy? >> yeah. my, my answer is every one of those things is fantastic. every one of those things will lift economic growth. but if we really want 4% growth per year in the united states which, by the way, we really -- reagan and clinton came close, but post-world war ii the was really the last time that happened. we have got to cut the absolute size of government spending. right now the government is three times bigger than it was

after world war ii. we have doubled the size of government in just 16 years. we've gone from $3 trillion in spending to $6.75 trillion in spending. that is a huge burden. add in state and local spending, add in regulation and we're taking 51%, over half, of everything americans produce and giving it to the government. no wonder houses aren't affordable. if you take half of all of our incomes, people can't afford a house. we need to give it back to the taxpayer by cutting spending. you can't just cut tax rates, you've got to cut spending and the size of government. and i think deregulation will help, the doge will help, also cutting regulations helps. but the bottom line is we've got the to cut the size of government in order to get back to truly 4% growth. stuart: trump reportedly plans to revive the keystone pipeline.

he would do that on day one. is this, does this mean that the green energy transition has stalled and that the green dream, essentially, is over? >> yeah -- [laughter] you know, i mean, nuclear is green, but i think it died, obviously, during the election. but when google and microsoft and meta come out and say we want the use nuclear power not solar and wind, isn't that condemnation that all these hundreds and hundreds of billions of dollars we've pushed towards solar and wind have been wasteful? that when it comes to their own money, they're not going to build more wind fields or solar panels, they're going to build nuclear. and so i think that's when it died. my biggest worry, you know, as i was thinking about what i wanted to say today with vivek and elon editorial in the "wall street journal" and all the talk about doge, you know, here's an interesting thing. have you ever heard of gulliver's travels? i know you have. people don't read anymore.

they should. but gulliver's travels written by jonathan swift, believe it or not, in 1726 means our founders had read that book. and one of the scenes in there is this gulliver, a normal human, lands, you know, on this beach on this island, and he's tied down by the little people. stuart: that's right. >> just little threads. and one piece of thread can't hold him down, but millions can. and that's why doge is so important. we need to stop redirecting resources to things that don't make sense. and so reopening keystone is fantastic. my biggest thing in if i were bidding that and and it was going to -- building that and it was going the take me more than four years to build it and i wouldn't know who's going to be the next president because i puts billions into this and then they come in and shut it down again, that's the problem with government. we have hamstringing, we are tying down the american economy. we have to let it up.

stuart: brian wesbury, good stuff. i have read gull have very's travels, and jonathan swift is quite a guy. see you again soon. we're dealing with something new in politic it's, a businessman president with a solid mandate for reform and two highly successful entrepreneurs who know how to get great things done. the department of government efficiency. you know, it could well be the most important element in the trump revolution. that's my take, and it's coming up at the top of the world. ♪ i believe the world is burning to the ground. ♪ oh, well, i guess we're gonna find out. ♪ let's see how far we've come. ♪ las vegas grand prix chose t-mobile to fuel advanced coverage for over 300,000 race fans and event staff. t-mobile powers tractor supply's stores nationwide with 5g business internet.

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any specialist. anywhere in the u.s. who accepts medicare patients. take charge of your health care today. consider adding this. call unitedhealthcare today about an aarp medicare supplement plan. stuart: nvidia hit an all-time high, 152, earlier this morning. it's backed off to 146 now. angelo zino joins us now. you raised your price target from 1600 to 165. that's not much of a target price hike, is it? >> you're right. so we did modestly boost our earnings estimates here. i think right now we're kind of a more in a wait is and see mode as far as nvidia and the blackwell is concerned. i think there were a lot of people out there anticipating that this would be the quarter where they would kind of throw a

major step up in terms of the guidance. it looks for the most part nvidia was fairly conservative, and we think the bigger step up is going to be more in the april and july quarters. but, you know, i think everybody needs to cope in mind here this is -- keep in mind this is a company that saw their revenue on the data the center side of things grow about 7x in the last 6 quarters. it's been a fantastic ride. we see more gapes ahead, but -- gains ahead, but i think we need to temper some of growth rates. we are in more of a wait and see mode here, see how blackwell ramps and then we can potentially revise our estimates even higher and take a better look at where, you know, or the opportunities are ahead. stuart: all right, angelo, a little cautious on the rocket ship stock that they've got going for them. we understand that. thanks for joining us. we appreciate it always. thank you very much, sir. >> sure. thank you. stuart: adam, anything to add to nvidia? what's your target? >> just let it ride. i think they'll do $5 in

earnings over the next, right, several quarters, and you put a 40 multiple on $5, it gets you to 200. stock's at 146. let it ride. stuart: thanks for joining us for the hour. still ahead, germany is prepping 800,000 troops in case russia invades nato. world war iii territory, question mark? christian whiton on that. nvidia's chief says a.i. could replace up to the 40% jobs in the world. liz claman is here with more from her exclusive interview. and steve hilton will react to trump's reported plan to revive the keystone pipeline. congressman jim jordan is going to react to calls for president biden to resign immediately, how about that? the 10:00 hour is next. ♪ nothing i can see but you when you dance, dance, dance ♪ ♪

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