boston, new york, san francisco, chicago, and they want to feel safe, they want to go to work, provide for their family, they want a roof over their head and have an affordable life. the simplest things. all americans are asking for is these simple things. and these blue cities are about to have a huge wake-up call. san francisco leading the charge. get ready, new york city, because next year this city is going to come, and it's going to be a whole new day, i believe. maria: all right. we've got retail under pressure this morning. kohl's underwelling, and -- underwhelming. in a social media post, trump threatening 25 tariff on on canada and mexico, an additional 10% on chai a. that's thank you, chris, jonathan, cheryl. have a great day, everybody. see you with again tomorrow. "varney & company" picks it up. stuart: good morning, everyone. the president-elect is off and running. he's making very clear what he will do on day one of his

administration. last night, a bombshell. trump announced he would impose tariffs on mexico, canada and china if they didn't work with him on migrants and drugs. it is a specific threat. 25% on items coming in from mexico and canada and an extra 10% over and above any existing tariffs op on china. he wants an end to the flow of illegal imgration and drugs -- immigration. the dow is down 1404, but the s&p -- 140, but the s&p and the nasdaq are higher. bitcoin is heading south. st coated -- quoted at $92,200 a change. -- a coin. jack smith has ended his legal pursuit of donald trump. he spent $50 million of taxpayer money. the biden-harris team tried lawfare to beat their political opponent. it failed miserably. trump will be president. on the show today, a ceasefire deal between israel and

hezbollah many remember are non, it favors israel -- in lebanon. "the new york times" says iran wants israel the take the deal. trump's presidency is pressuring the mullahs. we will detail the transformation of government. trade, migration, taxation, sanctuary states and cities, deportation, foreign policy, crypto all change, and it's already started. it picks up steam on day one. that would be january the 20th, 2025. right now it's tuesday, november the 26th, 2024. or "varney & company" is about to begin. ♪ ♪ if you drive a car -- stuart: a tax your feet. if you listen to the words, it's just classic. tax man by the beatles. just love it. st raining in new york.

some people like that. gardeners especially. if. [laughter] let's get on with it. stuart: well, they do. it's been dry for so long. my tomatoes were drying up. trump promising to use tariffs as a way to force border reform and prevent drug from flowing into america. he posted on truth social, i'm quoting, on january the 20th as one of my many first executive orders, concern i will sign all necessary documents to charge mexico and canada a 25% tariff on all products coming to the united states and its ridiculous open borders. this will remain in effect until such time drugs, in particular fentanyl, and all illegal aliens stop this invasion of our country. and with china he will inpose an additional 10% tariff on top of the tariffs he's already announced. it will continue until the fentanyl manufacturing in china sops and flowing it through -- stops and nowing it through mexico stops. we've just received this from the president of mexico.

she says the migrant caravans are no longer arriving at the u.s.es-mexico border. governor mike huckabee joins me now. governor, do you think these tariffs are basically a negotiating tool many. >> well, they're the every bit of that,s but they're a serious reflection of donald trump's big boy attitude. listen, he is no oil can harry who's going to show up with a little lubricating oil to just make the machinery of a bloated bureaucracy run smoother. he's coming the play and play big. and that's why people voted for him, it's why i love the guy. he just doesn't come in and say what do y'all think i should do? he knows what he wants to do, and he's going to get it done. keeping some promises about immigration and drugs, he's going to get it fixed, and he isn't going to wait until january 20l january 20th to let people know. and we're already seeing the results. the announcement from the president of mexico sort of says, yep, he's coming, we better get ready. [laughter]

stuart: immediate if reaction there. governor, a ceasefire deal between israel and hezbollah looks to be imminent. you're president-elect trump's nominee for u.s. ambassador to israel. the truth, this is my opinion, this truce seems to favor israel. is that how you see it? >> well, i'm speaking individually, not for the president-elect and certainly not for the country right now because i'm not confirmed, but i would say i agree with you. and, frankly, i hope it does affect israel in a more positive way because it should. they didn't attack hezbollah, hezbollah has been attacking them with relentless rockets and missiles and destroying villages and communities in israel. they've been doing it with an intention to kill civilians. so, yes, i hope it does. but more importantly, i hope that when donald trump takes office, and i fully believe he will reinstitute the successful policy he had of maximum pressure on the iranian government a. that's where his hezbollah's funding mostly comes

from as does the funding for hamas and the houthis. the biden administration's failure the bankrupt the iranians is the reason we have so much total disaster in the middle east right now. stuart: all change, all kinds of policies change, and with iran it's obvious, and i think they see him coming. governor, always a pleasure to have you with us on the show. i hope you have a wonderful thanksgiving. see you again soon. >> thanks, stu. you too. stuart: got it. now this, trump is celebrating after all federal criminal charges against him have been dismissed. good morning, madison. what's he saying? >> he's saying these charges were empty and lawless, and they should never have been brought. taking to truth social to say, quote, it was a political hijacking and a low point in the history of our country that such a thing could have happened. and yet i persevered against all odds and won. make america great again. so earlier this month special counsel jack smith signaled that he would be winding down his

case against trump following the president-elect's landslide victory. smith had already filed a motion to vacate all deadline ares in the 2020 the election interference case against trump, but now those charges have been dismissed, it's official. smith if also filed a motion to drop his appeal in the classified records case against trump. this effectively ends the federal prosecutions against the president-elect. jack smith is expected to resign as special counsel before trump takes office, stu. stuart: and he spent $50 million on these two cases, pursuing these two cases, and they've been dropped. >> millions of our dollars, yes. stuart: we can't get 'em back. >> no. stuart: it's a lesson for us all. madison, thanks very much, indeed. check futures, not much impact on the market, dow is down 116 points but the s&p up 16, nasdaq up 80 points. david bahnsen with me the morning. why -- no -- why no serious reaction to this tariff proposal? >> i think you have a president-elect who has told us

he uses these as a negotiating tactic, and i think the market believes that. and with canada and mexico, i think they believe it's going to be the an effective one. i don't think there'll be a tariff imposed because i think canada and mexico are going to give the president a cosmetic victory. give some more support and help with the border closing that enable as him to say, okay, they're not continuing what they were doing in the biden administration which was no help at all. stuart: that's interesting. but there is a risk here of protectionism. we impose tariffs on them, they impose tariffs on us -- >> but, see, protectionism and smoot-holly are a disaster. i i am a free trade that ther, but in this case i will point out he said his reason for the canada-mexico deal was border security, fentanyl, crime. not just the thing about i'm trying the protect american manufacturing jobs. that's protectionism. the china thing still lingers. that, again, is going to be a more complicated process. stuart: scott bessent says these

tariffs are not inflationary, they're just a one-time price t? >> a one-time price adjustment is inflationary. scott bessent has written before about a how they're inflationary to some degree but, again, not if they don't happen. markets are going to end up suffering volatility at some point. right now they haven't really believed it, but there will be some up and down movement. of course, anything that raises prices on importers is inflationary. stuart: it's a one-time deal. you put 10% on this -- >> but that's not how we define inflation. when you have one-time increases that saw stay -- stuart: technical. >> i'm just talking about the definition of a price increase. ask biden and harris if they liked the one-time movements in 02021 and '2. -- '22. it stopped going up year-over-year, but it was much more expensive for groceries. i'm hoping it doesn't get to that. stuart: just one of the many disagreements for the next hour. >> there's more coming.

[laughter] stuart: the biden administration is out toking its success of the last -- touting its successes of the last four years. what exactly are they brag about? >> they have a new memo where they say the biden-harris administration is one of the most successful in history. the memo was shared on monday, and the white house highlights biden and harris took office during the covid-19 pandemic, and now they are leaving the office with the best economy in the world. they touted 16 million jobs created and getting women and people of color back into the labor force. but if you take a look at the recent job numbers, 12,000 jobs were created in october, that is well below estimates of 120,000. and that was the low in four years. the memo also touts that the administration has brought inflation down to near pre-pandemic levels, but you look at the voters, right? harris said on "the view" ahead of the election when he was asked would you have done anything differently, no, i can't think of anything i would have done differently. so on the ballot you had another

biden-harris administration, and americans voted overwhelmingly if for former president trump. stuart: i take issue9 with the idea that they created 16 million jobs. what they did was the to bring back 16 million jobs after the pandemic disruption. anyway, i digress. got another one for you. >> yes. stuart: excuse me. if i'll be okay, promise. the hate arest read on home prices -- latest read. it is the case-shiller report. these numbers are from september, they're two months old, but give me the numbers if anyway. >> you got it, stu. home prices are up 4.6% over the last 12 the months. that's less than expected and the smallest rise in prices since september of last year. but we're here in new york city, they once again came in with the highest annual increase at 7.5%. that's so brutal. and denver had the smallest at 0.2%. so maybe if you're looking to buy a home somewhere, denver's to not a bad idea not in new york city though, bad idea. [laughter] stuart: what have you got to

say? >> i just love so much that we're finally in our country celebrating home prices not going up. that cult from the first part of the 2000s where we thought it was a good thing and it led to the financial crisis, and right now everyone's saying, gosh, we wish home prices would quit going up so much. stuart: times change. the finder of axios ranting about -- founder of a ax axios ranting about elon musk. >> he sits on twitter every day or x saying we are the media. a twitter handle and 3000 words of cleverness -- 300 words of cleverness didn't make you a reporter. stuart: hold on a minute. we're going to find out what elon's mother, maye musk, thinks about that and more. she's going to be on the show. she's actually going to be with me here in new york. denver's mayor says he's prepared to go to jail for opposing trump's immigration policies. incoming border czar tom homan had this response -- >> me and the the denver mayor, we agree on one thing.

he's willing to go to jail, i'm willing the put him many jail. if he doesn't want to protect his community, president trump and i.c.e. will. stuart: efforts to secure the border are already underway. more on that after this. ♪ if come together right now over me ♪ since 2019, john deere has invested more than $2 billion in our american factories. today, we're nearly 30,000 u.s. employees strong. in more than 60 u.s. based facilities, across 16 states, we couldn't be more proud

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hi, my name is damian clark. if you have both medicare and medicaid, i have some really encouraging news that you'll definitely want to hear. depending on the plans available in your area, you may be eligible to get extra benefits with a humana medicare advantage dual-eligible special needs plan. most plans include the humana healthy options allowance.

a monthly allowance to help pay for eligible groceries, utilities, rent, and over-the-counter items. the healthy options allowance is loaded onto a prepaid card each month. and whatever you don't spend, carries over from each month. plus, your doctor, hospital and pharmacy may already be part of our large humana networks. so, call the number on your screen now, and ask about a humana medicare advantage dual-eligible special needs plan. and remember, annual enrollment ends on december 7th. humana. a more human way to healthcare. stuart: all right. 14 minutes to go til the opening bell. the dow is down, the s&p and the nasdaq are both moving higher. take a look at amgen. here's the reason for the dow being down. it's plunging. it reported december apowbting

results -- disappointing results for a weight loss drug, shaving 235 if points off the dow at the opening bell. without amgen the dow would be up. today tom homan will join the governor of texas, greg abbott, in eagle pass visiting the southern border. bill melugin is there. what can we expect from the visit? >> reporter: hey, stuart, good morning to you. we expect tom homan and governor greg abbott to arrive here at this texas military base around noon local time. in the meantime, we want to show you some video of yet another large are group of illegal immigrants crossing in eagle pass. our cameras were on scene as this group of more than 20 the 00 was quietly smuggled across the border by human traffickers and cartel members. of that group, about 50unaccompanyed minors and children traveling completely alone with no parents or guard guardians. there was a teenager when told us his cousin paid $6,000 to get him into the country. we talked to two little girls

from guatemala are, ages 7 and 10, who are completely alone. [speaking spanish] >> reporter: and as we wait for tom homan and governor abbott ors we want to take a look back at how prosty things got in the biden administration. last year border patrol was relate peatedly cutting the razor wire now, texas said that was destruction of their property and a violation of state sovereignty, but it didn't stop there. look at this, the biden administration border patrol even brought in a forklift to raise the texas razor wire here in eagle pass and get it out of the way is masses of illegal immigrants could enter the

state. border patrol's position was they have to process migrants once they're on u.s. soil under federal law, but the move infuriated texas. they sued dhs over it, but biden administration also sued texas to stop the state from putting in these water buoys in the rio grande. texas just added more buoys last week after a federal appeals court sided with texas, and the case is expected to end up in the supreme court. now, last night homan and abbott appeared on hannity where they said they're not going to wait until trump's inauguration to work together and there will be consequences for sanctuary cities standing in their way. >> we're not waiting for january 20th. the planning starts now. january 20th, game on. so if they want to push back, push back, but don't cross that line. >> reporter: and, stuart it's texas that may end up getting the last laugh politically in all of this against president biden as governor abbott's effort toss bus illegal immigrants all around the city -- all around the country,

excuse me, to different sanctuary cities ultimately became a massive political headache and massive political liability for the biden-harris administration. we'll send it back to you. stuart: yes, it did. bill melugin, thank you very much. thaddeus cleveland, border sheriff, joins me now. trump is pressuring mexico, and it seems to be working. the president of mexico says the caravans will not be coming to to our southern border. look ares like it's a success already, sheriff. >> good morning, stu. it's good to be back with you. it certainly is a success already. look, president trump and his prior administration, this is exactly what he did with mexico at that time with amlo, and it stopped the masses coming to the border, or they had to wait in mexico before they got their asylum hearing. negotiations are certainly in trump's wheelhouse, and it's going to be even better once gets into the white house. stuart: it was sad to see border guards using a forklift to raise the razor wire to allow more migrants to come in.

what on earth are they up to at this stage of the game? >> yes. so, and that clip is from several months back. and, again, back when egg eagle pass was ground zero, when they were seeing the most crossings. those agents are doing simply what they're told. they're great patriots, i think continue to do an outstanding job with the limited resources and support they get from this administration, but what it comes down to is the biden white house forcing them to take those actions. stuart: the mayor of denver, mike johnson, says he's not afraid to go to jail for opposing trump's policies. here's how incoming border czar tom homan responded to that. roll it. >> me and the denver mayor, we agree on one thing. he's willing to go to jail, i'm willing to put him in jail. because there's a statute that says it's a felony if you knowingly harbor and conceal an illegal alien from immigration authorities. it's also a felony to impede federal law enforcement officer. so if he don't help, that's

fine, he can get the hell out of the way. i find it hard to believe any mayor or governor doesn't want public safety threats removedded from their neighborhoods. president trump and i.c.e. will protect his communities. stuart: sheriff, are you onboard with arresting leaders of sanctuary cities who don't comply? >> most certainly. but, stu, i'll tell you, it won't come to that. and the reason i say that, what we have are politicians in their communities that are looking to secure a vote rather than actually secure their communities from criminals. it's political fodder on their part. you know, anybody with any common sense would know that taking care of theiren constituents, taking care of the community is of the utmost important -- importance. stuart: the sheriff, thanks for being with us. have a wonderful thanksgiving. >> god bless you, stu. stuart: you got it. check futures, please. red ink for the dow, that's explainable. green for the s&p and the nasdaq. we'll be back with the opening bell. ♪

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stuart: three minutes til the opening bell. the dow is down 992, but the nasdaq, nice gain. mike lee with me this morning. the market doesn't seem to be terribly upset by trump's tariff proposals, do they? >> absolutely not, stuart. and i think it's because the market tunes a lot of these experts out when they tell us with all this, you know, like, horrible things that are going to happen because of trump's trade policies because we lived through it for four years, and nothing that bad happened. in fact, manufacturing flourished in the u.s., things got a lot better here. these tariffs don't happen in a vacuum, they're part of a comprehensive strategy to promote manufacturing in the u.s. and it worked out pretty well before, i think people are confident it'll work out again. stuart: we've already seen some success. the president of mexico says these caravans are not going to make it to the southern border, and david bahnsen sitting here says these tariffs won't probably won't go into effect

because they'll back down. what do you say to that? >> i mean, look, we'll see how this ends up playing out. i do not think canada and mexico have really honored the, you know, nafta 2.0 20 the way that they were supposed to, is so we'll see what other concessions they have to make if these tariffs don't get involved. but i will say we're told about free trade from the minute we learn economics, and it's preached to us. but the reality is free trade only exists in reality in textbooks or in, you know, fictitious worlds or at liberal think tanks, okay? we are always at a trade war, and it's just a matter of does the u.s. want the fight it or not. stuart: okay. i want to discuss two quick things. bitcoin back down to $92,000. you still think it's ultimately going to 200,000? >> yeah, 200,000 and if the u.s. builds a streaming thetic bitcoin reserve, much, much higher than that. i think, you know, 2000,000 at

some point in calendar year 2025. stuart: all right. palantir. all-time high yesterday. we got it at $64 a share, that's premarket. where's it going? >> so, stuart, i, you know, over the next few months i think a little bit higher, but over the next few years much, much higher. there's something for software as service companies called the rule of 40, and it measures profitability along with growth. and the reason why sas companies are the most expensive in the market is because of their reoccurring revenue at very high margins, and palantir is not only growing like wildfire, they're expanding their profitability at the same time which is a spectacular sign for a company. stuart: i haven't bought it yet, but i'm thinking about e it. [laughter] mike lee, thanks for joining us. the market has opened lower, but the you look the dow -- the 30 stocks in the dow, most of the loss for the dow industrials are from amgen. it's currently opened with a

28-point decline, and a near so-point decline accounts for all of the loss on the dow. look at the s&p 500, it's on the rise, up .2%. and the nasdaq composite, again, a solid one-third of 1%, well over 19,000 on that one. show me big tech, please. we've got most of them, all of them on the upside. apple, amazon, meta, alphabet, one and and all. trump is promising tariffs on canada, mexico and china. good morning, taylor what's the reaction of various industry groups in first off, the automakers. >> yep. automakers are interesting because a lot of these are manufactured or assembled in mexico, and we import them into the u.s. clearly, the big reaction, everyone except tesla even to though they do have some exposure to mexico. most of the international automaker to the downside. stuart: how about big tech in the earlier we saw all of them

go up. >> if you just think about big with electronics, those are sort of the imports that we think about shipped in from overseas. a muted reaction here, maybe something else going on. but overall, maybe big tech not as impacted as maybe the automakers. stuart: how about the retailers? >> so procter & gamble, right, you think about all these big retailers with big exposure marley from mexico and imports from from there, a packaged goods companies, some exposure with. nike's the the classic one. big revenue exposure in china. you're seeing some of those being impacted. stuart: tell me why the weight loss drug makers are all up today. we'll deal with amgen spatially, but the top two. -- separately. >> basically, the biden administration is issuing a proposal that wegovy and know novo nordisk should be covered in medicare and medicaid. right now medicare does cover it if it relates to heart disease, but now they want it expanded for obesity as well. this would be a brand new

coverage in a brand new market, people who can get these for weight loss, and they would be covered. stuart: what about amgen? they got this drug trial, a 20% weight loss in one year. why are they down? >> that's a great question. [laughter] they just must have been missing expectations, because all of the articles so far that i have read have said that this actually was great. it was a mid-stage trial showing that they get 20% weight loss after a year which means there's longer than a 5 2-week period, right, to be on these drugs, and that typically would be good for the company. i promise i'll dill into it and get back to you g dig into it and get back to the it. stuart: david, you hold amgen, don't you many 20-25% weight loss, they came in at 20%. i think this is an overreaction. there's still a lot more research coming through, but i think this is what happens when markets get ahead of themselves. stuart: a new ev credit proposal

in california, but it would exclude tesla. in other words, you buy a tesla many california, and you do not get the tax credit. why not? >> because gavin newsom doesn't like elon musk, that's why. so if the federal government is taking away a $7500 credit gap. gavin newsom wants to restart it, but they don't qualify for teslas. stuart: just because he doesn't like musk? >> i don't -- give me another reason. right? stuart: walmart, the latest company to roll back it dei policies. why are they doing it? >> they the had an interesting conversation with a conservative investor, he actually said that he had a really good conversation with executives at wal-mart. they're going to be looking at sort of what initiatives they fund, how they're thinking about racial equity programs within their company. one of my favorites is they're not, obviously, going to be putting transgender clothes in the children's section. sort of basic, i think, common sense that americans voted on

three weeks ago. starting to see that play out in walmart. stuart: several retailers reported before the bell. dick's sporting goods. >> this was a great beat, right? 2 2.5%. a little bit of market reaction here. good top and bottom line, raising full-year guidance. back to school shopping was excellent. same-store sales are up about 3.5-4.22%, the thursday time they've raised their forecast this year -- third time. stuart: best buy. >> this was not a good story, and that's why the shares are down about 8.5%. same-store sales were down 3% and in the next quarter they said they're actually going to be cropping 3% again. they said they saw consumer demand start to increase, it just wasn't as linear as they expected. stuart: in other words, straight up. >> straight up. stuart: how about kohl's? >> look, they're forecasting a huge drop in sales by as much as 7%, right in that is a problem. that's why shares are down 20. they saw muted holiday demand which goes in the face of a lot of to other companies that have

been talking about strong holiday demand and strong the back to school shop. >>ing. they do have a new ceo that they're bringing in from walmart with e-commerce experience, so he has his work cut out for him. fourth stuart abercrombie & fitch. >> the stock market reaction today, the stock is up 75% year to date which is why when you get good numbers, you're only down about 1-2. great forecast on strong holiday demand and named an nerds as the new cfo -- insider. stuart: amazon workers in over 20 the countries are preparing strikes for black friday. aren't they nice? what's this all about? if. >> because they are all a thinking that amazon is, quote, anti-worker and anti-democratic. so the big progressive group behind this is really organizing the movement and has said that amazon's relentless pursuit of profit comes at the expense of workers, the environment and democracy. stuart: they don't have black friday in other countries. it's only america. we have thanksgiving on this --

>> good point. they're going to go all weekend, through cyber monday, sort of kicking off the holiday season, getting globally people whereon board -- onboard. stuart: a progressive group. david is still with us, itching to get into this, but you're going to go ahead with your stock picks, your dividend picks, lamar advertising. >> also motivated by profit, and that's what amazon's doing that's got everyone so upset. so i don't know what to say now, i'm really torned. stuart: flustered. [laughter] >> i'm thankful for profit. lamar advertising is making a lot of money, and there's going to be a lot more money spent on marketing and advertising next year. you have a good economy, and lamar is the number one billboard maker throughout the country. converted a ton to digital. we love this model. big, juicy 5% dividend with a special dividend yield coming. stuart: you've been here before, merck, love are 'em. >> owned it forever, and it's down about 13% in the last quarter, and we think that this

is keytruda continues to get new applications. you've got a dividend, 3.5%, that they grow every year. just raised the dividend 7%. their problems at merck, they're raising the dividend. the dividend is management's vote of confidence in their own business model. stuart: music to your ears, i'm sure. actor alec baldwin says americans are uninformed about reality. >> americans are very uninformed about reality, what's really going on with climate change, ukraine, israel, you name it. [laughter] stuart: can't wait for brian kilmeade to take that one apart. he's on the show shortly. trump preparing wide-ranging plans to increase energy production. how quickly can we actually expand, say, nat gas production? we'll ask trump's former energy secretary dan boil yet. he's next. ♪

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♪ stuart: don't, as in the department of government efficiency, has begun screening potential team candidates. grady trimble has this story for us. all right, grady, what type of candidates are they looking for? >> reporter: stu, the help wanted sign is up, and elon musk and vivek ramaswamy's team it is are interviewing candidates with background z in politics, technology and law to join doge's ranks. we already know that the commission is seeking super high iq, small government revolutionaries to join the department of government efficiency. they want them to submit their resumés via direct message on x, so a rather unconventional way to apply for a job. they want people to work, willing the work 800 plus -- 80 plus hours a week.

their also -- they're also already working with members of ott house and senate. senate joni ernst met with them over the weekend, and she presented them with a long list of areas where doge could cut waste, fraud and abuse right away. 22 items on that list, and that the includes consolidating government building office space since so much of it is sitting vacant as government employees work remote, collecting irs taxes for contractors who have overdue balances, clawing back pandemic relief that went to crooks and, this is an interesting one, ending funding for what ernst calls silly science products such as putting shrimp on a tiny tread mill. yes, stuart, this is a real picture from a real study. >> this is the low hanging fruit that we can hand right over to vivek ramaswamy and elon musk. if -- so had those discussions the previous weekend at mar-a-lago with vivek, elon,

president trump and howard lutnick, and they agreed there's a lot we can do to do immediately, on day one. >> reporter: ernst is leading the senate doge caucus, over on the house side, congresswoman marjorie taylor greene will head up the doge committee. stuart: the doge caucus and the doge subcommittee? we're making progress here. grady, thanks very much ors, indeed. trump is preparing big changes to our energy policy. part of his plan is to lift biden's lng, liquified natural gas, export ban. wants to lift it. former energy secretary under trump dan brouillette joins me now. what would be the effect if we did, indeed, end the ban on exporting liquified natural gas? >> stuart, great to be with you. the obvious result many that would be that we create markets all around the world for lng. recall that during the first trump administration lng exports from the united states increased

fivefold, fivefold. what that does is increase production here in the united states, increases incentives to produce that gas when you have the markets. stuart: can you expand nat gas production if quickly? can you pipeline it to where it needs to go? quickly in. >> sure you can. the american gas association here in washington, d.c. reports that we have roughly so 0 years of -- so 0 -- 1000 years of natural gas reserves -- 1000 years -- 100 years. again, if we remove the incentives to that production and that means creating the right fluff, permitting pipelines -- infrastructure, permitting pipelines, those are the questions that i think the congress and i think the new administration, the new trump administration are going to ask. and i think the president is prepared to present a very bold, a very bold transitional plan in just a few months. stuart: if we expand our exports of natural gas, what happens to the domestic price? if we're sending a lot of it

overseas, doesn't the price domestically go up? >> no, i don't think that's the case, stuart. there's been a number of studies that prove quite the opposite happens. as i mentioned earlier, we have so 100 years of natural gas here in the united states. we have so much natural gas that i'm not quite sure we can create enough demand here in the united states to use all of it. so that is not a concern for this market. stuart: dan brouillette, you know what you're talking about, and we appreciate that. come and see us again soon. have a great thanksgiving, sir. thank you very much. >> thank you, stuart. you too. stuart: david bahnsen still with me. trump's treasury pick, scott bessent, he wants to raise oil output 3 million barrels a day. that's' oil. how long does it take to do that? >> i think we have to remember that our country doesn't -- the government doesn't produce the oil. they get in the way of production. they need to to approve certain permits and things like that. but you also have oil companies that have to make economic decisions, and there's this thing called capital discipline where they don't want to do what they've done before, overproduce and end up having to get rid of

a bunch at low prices. i think 3 million's aggressive, but if you have a good, growing economy, keep in mind, global demand's been low because china's economy's been so week. a can -- so weak. we have to have the capacity to produce another 3 million barrels. let oil production companies make the decisions. stuart: thank you, david. coming up, a dramatic transformation has a arrived. the president-elect is not tinkering with policy, there are no minor adjustments here. he's off and running way before he takes office. we're about to head in a different direction because that's what we voted for, and trump is the man to do it. that's my taking top of the hour. kamala harris reportedly telling her advisers and allies to keep her political options open. she says she's staying in the fight. more on that after this. ♪ it's been a hard day's night. ♪ and i should be sleeping like a log. ♪ but when i get home to you, i find the things that you do -- ♪ will make me feel all right ♪

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hi, my name is damian clark. if you have both medicare and medicaid, i have some really encouraging news that you'll definitely want to hear. depending on the plans available in your area, you may be eligible to get extra benefits with a humana medicare advantage dual-eligible special needs plan. most plans include the humana

healthy options allowance. a monthly allowance to help pay for eligible groceries, utilities, rent, and over-the-counter items. the healthy options allowance is loaded onto a prepaid card each month. and whatever you don't spend, carries over from each month. plus, your doctor, hospital and pharmacy may already be part of our large humana networks. so, call the number on your screen now, and ask about a humana medicare advantage dual-eligible special needs plan. and remember, annual enrollment ends on december 7th. humana. a more human way to healthcare. stuart: 232 minutes in, the dow is down 170 to, but look at the nasdaq. it's the up 123 points. d the ory wiley joining us here many new york. the market's barely reacted.

i thought we might get a selloff. why not? >> well, i think trump has credibility, right? he went through this in his first administration, and people have learned trump is using tariffs for two reasons; one, to affect foreign policy and, two, to affect free trade. he's not against free trade, he wants fair trade. stuart: and so you think these tariffs will not be imposed? >> no, i think they'll -- they'll be imposed, but it's used to get attention in order the negotiate. those countries need us more than we need them, so he puts those in place, and countries adjust, then he can adjust the oh way. if they don't adjust, they get hurt worse than we do. and in the end, your pushing the american economy -- stuart: there's there is a danger of protection ifism, isn't there thesome tit for tat -- >> and the market's discounting that risk. >> he gets credibility, and he deserves it because it worked mt. first term, and countries are more diversified in their

supply chains now time. stuart: the trump rally, does it have legs in. >> yes, i it does. if you look at earnings from the third to the fourth quarter, they're projected to to expand, highest they've been in three years, so it's a fundamental reason. we till don't have excess in the ipos and m&a, so there's definitely leg to run. stuart: okay, you brought us -- you like small caps, right? that's where you think the money should be going? so give me -- you like the financial sector everything t the f, what is it allow concern you like? xlp. why do you like it? >> first of all, with financials the smaller cap banks are chest domestic, right in so now i'm taking the tariffs out of the question. in addition, the pricing are in the 12-13 multiple range. they make money, unlike a lot of other small caps which a third of the the small caps lose money. it's a fundamental reason to be there. they're up about a 50-600% depending on which et, if you

look at, and there's room to run. stuart: how about vbr, that's another small cap etf. >> that's a small cap, fundamental value etf by vanguard, and it's up 36% for one year, and i think there's room to run in it, and there's 20% financials in it. stuart: you're putting your money into stocks. >> i'm still allocated. i'm not over allocated or underallocated, and i like small cap value as an opportunity to buy right now. stuart: we going to have a good year, 2025? >> yes. i think we'll be up this year. >> as much as 2024? >> that's a big stretch. stuart: yes, it sure is. [laughter] love are your accent, come and see us again soon. and, david, thanks very much for refraining from interjecting in some of the interviews. >> happy thanksgiving. stuart: you too. [laughter] coming up, israel and hezbollah are reportedly nearing a ceasefire deal in remember are non. the -- is the deal in israel's

favor? we'll have volcker -- kurt volker. we'll hear about elon musk if his mother, maye musk, who's going to join us in new york. brian kilmeade reacts to alec baldwin saying americans are uninformed about reality and jon levine will discuss the dangers of sanctuary policies in major cities like new york. the 10:00 hour is next. ♪ we are family. ♪ i've got all my sisters with me ♪

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