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tv   Varney Company  FOX Business  November 27, 2024 10:00am-11:00am EST

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ashley: blinding lights by the weekend the. a festive seen in new york city, 10:00 eastern. straight to your money. let's look at the treasury, 10 year treasury moving slightly lower, the dow is up slightly, the s&p and nasdaq down before basis points, 4. 26%. %. look at the oil moving slightly higher earlier in the session around $69 a barrel it is right there up $0.36 and look at bitcoin also moving higher, close to one hundred thousand. it up $2800, $95,000 per bitcoin. we got the latest read on pending home sales, the number.
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lauren: surprise increase, this is home contract signed in october that rose by 2%, the level is 77.4, that's a 7 month high, and encouraging sign that homebuying momentum is slowly building nationally. ashley: a lot better than new home sales but here's the big one that investors have been waiting for. the pce index. lauren: it came in month over month of 0.2% same as september and as expected. look at the core level, it came up 0.3% month over month and if you look year-over-year that's the number the federal reserve pegs their inflation target, that came in up to.
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2.3 versus 2.1 in september, in september. ashley: we are expecting 2.8. a little less hot. see what that does to the fed. if you think it through maybe they don't need to cut. we will look at it differently but the dow up 63 points but not a lot of reaction. >> personal income came in pretty strong. it came in much better than expected, 0. 6%. %. that would be a good sign, and pretty strong 0.4%, both those numbers were strong. neil: let's look at this headline. it's interesting, quote, it is elon musk's america and the left can't stand it. i love it. liz peek wrote that and she joins me now. good morning to you, democrats
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melting down over musk joining trump's white house, will the democrats rage against elon musk ever go away or is this just the beginning? >> it's just the beginning. good morning. what he has done most recently it hasn't got a lot of attention for is jumped into the ai race by forming his own ai company, x a i of course and just as musk disrupted social media by buying twitter and dissolving the left stranglehold on social media, he's doing the same with artificial intelligence and i think it is far more important because ai in the future is going to determine how we teach kids history, what the commentary is on things like economics and immigration policy. everyone will go to ai for immigration. if you only have the left supplying that information, you
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will have a very 1-sided view of our country and the world so this is very important. elon musk has raised $500 more for his ai venture valuing his company at $50 billion just when he needed another $50 billion. the guy is a godsend to people like ourselves who want a balance of opinion available. ashley: i want to get to this one. it is amusing but typical. one day after alec baldwin insulted americans as, quote, uninformed, sharon stone raged against american politics at the torino film festival. >> lessons, very american.
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ignorant and arrogant and we are in ignorant arrogant adolescents. we haven't seen this before in our country. ashley: it is interesting, a bit ignorant about the quality of the audio but we are adolescent, we are knife, ignorant and arrogant. what do you have to say to that? >> he goes on to talk about americans don't have passports but she's the ignorant one, she's in italy and if she bothered to look around her she would realize italy is in the forefront of european countries going hard right, they have elected to the president who is incredibly popular, cracking down on immigration, climate initiatives and other things, that kind of policy reversal is taking place all across europe so liberals who think they know
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everything are losing the game not just in the united states but in europe too. ashley: we will leave it there, great stuff as always, have a great thanksgiving, thanks for joining us. now this. the court of appeals has agreed to drop donald trump's classified document case. come back and, lahren, give me the details. >> the classified document case is officially dismissed. both of the special counsel jack smith's federal criminal cases against donald trump are dismissed. they cannot be revived, jack smith cited department of justice policy against prosecuting a sitting president, donald trump takes office january 20th. ashley: back to these markets, markets closed tomorrow. they have an abbreviated session friday so this is what markets are doing, the dow is
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up one hundred 6 points, the s&p and nasdaq still slightly lower. let's bring in eddie ghabour, the pce inflation report lined up 2.3% the last 12 months. what does this mean for the markets and what will the fed do next month? >> i still think the fed will cut another 25 basis points in december. the reality is the data that's coming in is supportive of the fact that they really don't need to cut anymore. i think it is a mistake to cut but regardless i think it will continue. this report shows the economy and consumer is resilient and inflation is going to stay sticky and the concern is if they cut aggressively it could cause inflation to accelerate next year, that is our biggest concern over the next six months because the market does not need the fed to intervene.
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it is fine where it is, the capital market and bond market take over. they are still going to cut in december. ashley: do we get a rally? >> we will. we are overbought in my opinion. we expect and have told clients we expect to see some softness in the next week or two, tech is showing that right now but there's so much cash on the sideline because people were not positioned correctly pre-election, they have to play catch up and you will see a lot of cash come off the sidelines, the small dip that we expect the next two weeks and that should carry us through the month of december into january. ashley: goldman sachs says consumers face significant consequences from trump's propose tariffs on canada. how does that impact things? >> a lot of this is just narrative.
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at the end of the day it will come down to what capital markets are telling us and following the bond market. a lot of these tariffs everyone is trying to be so concerned with nothing has actually happened yet. this is just narrative right now. let's see what happens before we make any decisions what that means to the consumer. ashley: very sensible as always. thank you. happy thanksgiving to you. >> thanks to you as well, thank you. ashley: thank you. you have been looking at the movers this morning. let's begin with -- neil: nursing 1/3 of their value, robotics company, they do the robots in the warehouses, they said they would delay their annual earnings due to recognition and error in internal controls, that does not sound good, down goes the stock, we have dick's sporting-goods way up today. only up one. 5%. %. it had been higher, 5% moments ago.
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i got an upgrade, price target at 260, they see them achieving 8% annual revenue growth over the next 5 years, that's pretty good thanks in part to these new interactive stores, dick's house of sports where you can play simulated golf internationally. ashley: i love that for sure. thank you very much. still ahead, this is interesting, joe rogan get a white house press pass? more on trump's plan that could drastically change the press room. incoming border czar tom homan making something clear to democrats resisting a border crackdown. there you go. that's what we call a pregnant pause. he said don't test us, he's ready to take on the democrats. meanwhile after a year of fighting, israel and has agreed to a cease-fire deal
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ashley: take a look at these markets, the dow moving higher, up after the pce index was released, the s&p and the nasdaq remain stubbornly lower. take a look at redit wrapping up efforts to attract more users outside of the us, reportedly focusing on countries like india and brazil. the company also working on a search tool, stock is up 2. 4%. %. a cease-fire deal between israel and hezbollah is now in effect. it ends nearly 14 months of fighting in the region.
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alex hogan is in tel aviv this morning. i guess the question is what happens now. >> the big news is we are 13 hours into the cease-fire after 14 months and the cease-fire does appear to be holding. in terms of what happens next the israeli government is warning citizen and in lebanon not to return to their homes along the border just yet because the israeli government will be carrying out these phases of withdrawals for israeli troops that have been deployed in the southern lebanon. despite that, this was earlier today, the streets were packed with residents and lebanon's elevating at your to try to get back to their homes. one quarter of the country's population have been displaced. >> translator: going back home is the nicest feeling, thank god we returned victorious with our heads high, despite all the loss, we are returning with our dignity back to our homes.
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>> reporter: president biden made the announcement yesterday that israel and hezbollah had agreed to the cease-fire ending 14 months of war. the deal will push hezbollah 20 miles north of the border in lebanon's armies already moving into create a buffer along the border. >> >> president biden: of hezbollah or anyone else breaks the deal posing a direct threat to israel, israel retains the right to self-defense consistent with international law. >> reporter: fighting continues in gaza where the idea of targeted hamas weapons storage centers, airstrikes that killed 15 people there today. after the news of the cease-fire, hamas released a statement but it hopes this agreement will lead to a cease-fire of its own. despite months of negotiations, there has been no combination of any cease-fire coming to fruition. it's worth noting that it was this week last year we saw the release of more than 100
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hostages through that cease-fire. there has been nothing close to anything in terms of the cease-fire to that scale in -- more than hundred hostages remain in gaza held by hamas. ashley: thank you very much. let's bring in christian whiten, former state department official. the first question is do you think this cease-fire will hold up? >> i think it will. the irradiance and hezbollah which is an instrument of iran realize things are not going to get better with donald trump coming back into the white house, trump is already planning to put maximum pressure of the sort we sign his first term on iran so all of iran absence mentalities are already put on the back foot and israel has accomplished a lot in the last year in seriously degraded hezbollah's ability, killed several levels
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of their leadership and also of iranian envoys to lebanon who work hand in glove with hezbollah so i think this one probably does stick. ashley: of the deal does not address the war in gaza where alex hogan pointed out, still holding dozens of hostages. will we ever get them out? >> we could get lucky. i think you unfortunately have to assume if they were taken, some have been liberated which is terrific but you can't allow an entire nation's policy to be held hostage, in reality by this because the task israel has to do is to degrade hamas beyond any ability to operate. the war in gaza will go on. there isn't a coherent plan for what comes after combat. is really still hope against hope that the gulf arabs will step up in conjunction with egypt and morocco but there's no real plan to govern.
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ashley: outside of the middle east donald trump's team reportedly weighing direct talks with north korea's kim jong-un hoping a fresh diplomatic push can lower the risk of armed conflict. what do you think of that? good idea? >> it is always good to try to engage the north koreans was what trump did in his first term, if barack obama had done that a friend of mine noted the other day he would have gotten a second nobel prize, trump didn't get any real recognition but it opened up north korea. everyone thinks north korean troops fighting in ukraine is bad but depending on your estimate anywhere from 10,000 to one hundred thousand younger north koreans ready to be exposed to the outside world such as it is a ukraine and russia and a change in doctrine and north korea where they are no longer interested in unifying with the south, they declared the south an enemy and alien country.
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major change in north korea that could destabilize potentially that regime. ashley: really appreciate it. now this. on identified drones have been spotted over british airbases used by the u.s. air force. take us through what happened here. lauren: these us bases in england in recent days, it all started november 20th, the day after ukraine attacked russia. fox told the drones, do not appear to be those -- they were too sophisticated but it's too soon to say who send them. there is government sent 60 security personnel to protect these bases and clearly the centerpiece of our airpower in europe, specifically in england. ashley: absolutely. thank you very much. coming up, rain, snow and a
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shortage of air traffic controllers expected to slow down americans heading home for the holiday, bring you the very latest advisories and warnings. kamala harris's advisor says the podcast was important. >> we knew we couldn't just reach people with one medium. we were trying to spend more resources on digital not for the sake of that but trying to find young people. ashley: more on the mass of $1.4 billion spent in 15 weeks when we come back.
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ashley: let's look at these markets, the dow has been chugging along quite nicely, up 0.2%, nothing too dramatic, the s&p and the nasdaq have remained a slovenly lower, the markets closed tomorrow for thanksgiving. you've been looking at the other movers this morning, let's begin with solar edge.
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>> a solar inverter maker, they plan to shut down their energy storage division to focus on cooperation meaning they are laying off 12% of the workforce and the street likes that. a chip design company up today 8%, stronger earnings, better forecast helping to shake off worries about slowing demand particularly from the auto sector. autodesk, design software company, revenue stronger than expected but margins were light, stock is down 7%. one and almost said there's a worry some of the industries they serve like construction, architects use their software, there could be a slow down if donald trump does the mass deportations. ashley: thank you very much. last night donald trump announced a flurry of new pics for the incoming administration.
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all right, brian, take us through the president-elect's latest pics. >> reporter: donald trump announcing 6 additional pics for his administration last night beginning with kevin hassett who is now the new director of the national economic council and then we have jamison greer, the new us trade representative, and j batachairs about iraq, john fielding, us a very of the navy, vince haley, director of policy and speechwriting. more controversial pick is doctor batachairs about ia who needs confirmation to lead the top medical research agency. he said covid 19 lockdowns with the biggest public health mistake, his been a big critic of the and ih and he promoted heard immunity from covert arguing people should have been able to live their lives normally and build up immunity
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to covid 19. in choosing hassett and greer to fill out his economic team, the president-elect israel oregon two veterans of his first administration, trump saying greer played a key role in imposing tariffs on china and hassett will ensure countries don't take advantage of the us on trade. here's hassett defending trump's tariffs plan as a negotiating tool in encouraging the passing of trump's promised reciprocal trade act. >> the reciprocal trade act is in the republican platform, the typical trading partner charges us double tariff we charge them. if we say we are going to lift our tariff to what yours is unless you lower to hours i think it creates an interesting game the could end of reducing tariffs all around the world. >> reporter: the trump transition team signed a memorandum of understanding with the biden white house yesterday officially allowing the transition to begin within federal agencies, notably the trump transition team will not
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be using taxpayer money in this transition saying they would like to save americans, quote, hard-earned money and lastly ask he is reporting that trump is thinking about creating a new position, ai czar which would be fascinating as something that would be in charge of making sure america stays at the forefront of the artificial intelligence race. ashley: that would be fascinating. looks like a beautiful day in west palm beach, thank you. now this. kamala harris's campaign chair tried to defend spending six figures for harris to go on the cool daddy podcast. >> we knew we couldn't just reach people with one medium and we had to make sure we are maximizing it so those things cost a lot of resource especially when you are running 7 states so we were trying to spend more on digital not for the sake of that but to find young people, these low propensity voters that were
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tuned out to politics so we had to work extremely hard to find them. doing so made us make key choices. call her daddy was an important choice to make. ashley: or was it? brent bozell joins me now. the interview got less than a million views. was it that important? >> if you wanted to reach young people going to porn sites, that's the place to go. i didn't know that was an important demographic. will never be able to justify spending $1.5 billion in three months. they didn't want to put her in television because they knew she was terrible so they tried to flood the airwaves but there is so much time you can buy. john mccain talked about over bombing in afghanistan after a while you're just watching rubble balance. that's what it was with kamala harris adds. they were everywhere and people
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were getting turned off by those ads but they couldn't put her in television for interviews because she was just so terrible. joe rogan reached out to her, they didn't want her there. they put her on porn sites. that is all they could do. ashley: they were going to lose it from the very beginning. i love this. donald trump may consider giving people like joe rogan a seat in the white house press briefing room instead of the mainstream media. i love it when the cat is among the pigeons. that would cause a meltdown, wouldn't it? >> let's look at reality here. in the campaign coverage as we documented, it was 85% negative coverage by networks on donald trump. during the 2,020 campaign it was the same thing. during his first presidency it was the same thing. during the 2016 campaign it was
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the same thing. these networks are not news networks, they are hitmen for the far left against donald trump. he has every right to look at them and say you don't have a right to be in this press briefing, you are not reporting the lose, i will bring another people, joe rogan who has got a massive audience and you don't, your audiences are imploding, cnn's audience is important, msnbc is imploding, why does he care to have them in their? ashley: couldn't agree more, thank you for joining us and happy thanksgiving to you. >> happy thanksgiving to all of you. ashley: thank you very much. now this. there is a new social media platform that gained millions during the election. tell me about this. ashley: have you heard of it? ashley: i have. ashley: it is building itself is a decentralized social media platform and it looks a lot like the original twitter, the
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little butterfly reminds me of the old twitter bird. this company started back in 2019 as a test within twitter led by twitter's cofounder jack dorsey but it has recently surged in popularity particularly since the election. it has a user base at least 22 million and growing so difference between when it was a test and now after the election is users are going on and feel they can will and customize their own feeds, therefore avoiding the algorithm that pushes them content. many see this as more democratic if you will them content cure ration you are seeing on elon musk's x which is the old twitter, and mark zuckerberg has threads but a lot of people say that's not cool so folks looking for a social media are flocking to blue sky if they don't like x or threads. ashley: interesting. thank you very much. still had, trump choosing
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stanford professor and physician j batis about chairia who was censored during the pandemic, he will be the nih director. >> the nih invested in very dangerous gain of function research that might have caused the pandemic and they have not come clean, the next ice director is going to need to admit that the agency, transparent agency. ashley: can he bring that transparency to the agency? we are on that story. president biden proposes medicare and medicaid cover costly weight loss drugs for millions of americans. is this a good idea? i am going to ask doctor frank contassessa next.
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when you're in the military you're really close with your brothers and your sisters that are in the military with you. and when you get out of the military, you kind of lose that until you find a new family. we can talk about our struggles and the things that we did overseas and not everybody can do that. adam! how's it going, brother? we live pretty close to each other. so he's always coming over. when i go to jack's house, we watch a lot of football, hang out. we go outside the friendship has kind of grown
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into a family i was overseas on a deployment. i got separated from my marines and i got hit in the neck, and it broke my neck and paralyzed me. 14 years ago, i was on a training mission. did a military freefall, and i had some faulty equipment. i hit the ground. going, 30 to 40 knots and was instantly paralyzed. i met jack fanning when he invited us to park city, utah, through his foundation. i was able to actually get on the mountain and ski with my family, i can't put into words what that meant. i got paid in the military to do crazy fun stuff. and after my accident, i'm still that same guy. and when i was able to jump out of a perfectly good, helicopter, at 10,000 feet, i did it. i was talking to some vets last week amazing how we have these houses
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where they can come over because they■re in chairs too. carpet and wheelchairs don't mix very well. tunnel to towers, they got rid of all that. they redid my whole bathroom. that's probably the favorite part of my house. i thought they were just going to do the upgrades. but the surprise to me was they paid off the entire mortgage. when they told me they're going to pay off my mortgage, i cried. please contribute $11 a month by visiting t2t.org now
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ashley: , slightly higher, the
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s&p and nasdaq slightly lower, the nasdaq nearly 200 points, down one%, the latest inflation reading basically in line with what's forecast but the markets just treading water a bit this morning. let's look at santa fe if we can, opening a $6 million vaccine facility in singapore to prepare for potential pandemics. donald trump jay bhattacharya for the national institutes of health. he was a vocal critic of lockdowns vaccine mandates during the pandemic, give us the details on trump's latest pick. >> health policy professor and
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economist at stanford university, one of the early critics of the pandemic lockdowns and the vaccine mandates and he also co-authored the barrington declaration, he argued that lockdowns were harmful. he argued for a more targeted approach where most people with low risk would live normally to achieve. heard immunity while more vulnerable people at higher risk would be encouraged to get protections like vaccines. at the time he wrote, quote, as immunity builds in the population the risk of infection to all including the vulnerable falls. our goal should therefore be to minimize mortality and social harm until we reach heard immunity. his criticism prompted the then director of the nih doctor francis collins to label jay bhattacharya and his ideas as fringe much water under the old ownership blacklisted jay bhattacharya. since then jay bhattacharya has fought for his right to speech,
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the courts taking one all the way to the supreme court in the last term and he has also set out to restore faith in public health. listen to this. >> and apologize for the horrendous mistakes during the pandemic. a lot of people lost confidence in public health as a consequence of its embrace of policies that didn't work. lauren: jay bhattacharya's supporters would call the selection to lead the nih vindication for him. trump said in his announcement that jay bhattacharya will work with rfk junior, the pick to lead health and human services to restore the nih to a gold standard of medical research. ashley: very interesting, thank you very much, now this. president biden wants medicare and medicaid to cover those price you weight loss drugs like ozempic. is that a good idea? what do you think?
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>> if i could say i think the choice of jay bhattacharya is fantastic which i'm a big fan of his. his smarts and bravery during covid should be emulated and i'm all in favor of that. drugs like ozempic, i have some reservations about medicare and medicaid covering these drugs. they are effective drugs when used properly, very good diabetes drugs and they do work for weight loss when used properly. my two reservations, number one, doctors have to have the time to spend with patients to explain how to use these, there are nutritional guidelines that have to go along with proper protein intake and they have to do strength so they don't get muscle wasteing so doctors have to take the time to do that. the second problem is the cost, 40% of adult in this country are overweight or obese, we
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could be talking, they are saying $35 billion. i think it could be more than that. right now is $1000 a month for these drugs so i have some reservations but if it is done properly with the right guidelines it is possible that i'm concerned. ashley: a quick follow-up. do we know the long-term impact of these weight loss drugs? >> we don't have a lot of data yet. in some form another the drugs that have been around for 10 years, there is some long-term data, if people stay on them for a long periods of time for diabetes they seem to work well for weight loss, 60% to 70% of people once they stop the drug, the weight comes back so i have some reservations. ashley: we have to leave it, we are already out of time but thank you for taking the time to talk to us, we appreciate it. now this.
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neuro-link, elon musk's brain implant company working on connecting the brain shipped to robotic arms. explain this to me. ashley: this is so game changing especially if you are a paralyzed person. is neuro-link project has received approval to launch a new feasibility trial to test whether the brain implant can be used to operate a robotic arm. that means a paralyzed person can control an external device with their thoughts. neuro-link plans to have it work wirelessly eventually and that will be groundbreaking because a paralyzed person could perform daily tasks by themselves so low. musk's mom was on the show yesterday and told stuart her son never ceases to amaze her when it comes to him taking on monumental tasks. >> this neuro-link, people are saying i don't want something in my head, i said you aren't
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paralyzed. or you aren't blind. if you are blind and don't want to see, you can argue the point. you don't have to have a chip in your head. >> where there is a need elon musk, as and as a disruptor. we will see how this goes. ashley: he is remarkable. thank you very much. still had, democrat donors says kamala harris's campaign's spending disqualifies her forever. >> all of a sudden, everybody has the keys to the candy store, buyers, talent consultants, this disqualifies her forever, forever. if you can't run a campaign, you can't run america. ashley: does he have a.? we are going to talk about it next. ♪
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ashley: venezuelan migrant with ties to tren de aragua is arrested for robbing a female prosecutor from the manhattan da's office. he has already been arrested with 5 times this year and has been able to walk free every time. alexis mcadams joins me now. what charges is he facing of this time? >> reporter: this time is key. we are talking half a dozen times. this time he's looking at a wide range of charges including robbery and other ones. right now the feds are trying to figure out if he's link to the venezuelan gain get called tren de aragua. we hear about it a lot now because it is linked to lots of crime in new york city and across the country. >> it is possible. we haven't had, we are working on identification and doing what we can but he wasn't in our custody. they won't give us anything more than what we have.
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i would like better collaboration on this, let us help them. >> reporter: he was handcuffed and taken into police custodial. it happened again last week. investigators say he robbed a 38-year-old woman and her new york city apartment building and she happened to to be a member of the manhattan da's office, she called the police, he stole her purse and printer saying if you didn't give him the pin number to her credit cards he was going to hurt her. investigators say the 25-year-old suspect pulled his pants down and exposed himself before he ran off. ice telling fox news that a venezuelan migrant crossed into the us illegally last year, looking at texas and eagle pass, the area we think it happened and eventually went to the big apple. are big pictures obtained by those dailies about male.com showing a migrant facing a long list of charges like sexually motivated robbery, grand larceny larceny and, position of stolen property to name a few.
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there have been growing calls from people in new york to change the sanctuary city laws this has people say they don't care what immigration status they have, they don't want repeat offenders back in the streets which is understandable. ashley: i think that's very reasonable, my goodness, thank you so much for that. now this. migrant shelter in chicago's rogers park neighborhood just closed down over the weekend. project would ceo cory brooks joins me now. pastor, you are in chicago. are you still seeing a surge of migrants there? >> absolutely. calling ourselves a sanctuary city means a lot of illegal immigrants have been allowed to come into the city, unfortunate that now they are being added to an overwhelming system that has already seen an influx of individuals in our city, we are already overwhelmed with budget crisis, we have a mayor in our city unlike any other, who
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voted 50-0 are some of this legislation to get passed and we've never had this type of situation in chicago we are experiencing now. winter is coming up on us, i don't know what these individuals are going to do. i do know organizations like ours are going to continue to be burdened by the fact that we have to pick up the slack and take care of these individuals because the city is a sanctuary city. ashley: you have a new op-ed out and you say the people are rooting for you to fail. what's the problem? >> we are building a 90,000 square-foot economic opportunity center that's going to transform our block call thoughblock, odie perry was shot and killed, we decided to call an opportunity block and transform it and change it and there are individuals rooting against me, specifically political officials, they want me to keep the status quo, keep
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my mouth shut, they don't want me to say anything, those who call themselves allies of the black community but they want us to keep the same song and dance, they want us to keep race baiting, they want us to keep the same status quo, they want us to keep the same machine in place but from my point of view i am taking the point that cannot be done if we are going to transform the city and the neighborhood that i am in with project would. ashley: we wish you the best and thank you for joining us today and happy thanksgiving to you. thank you so much. still ahead, charlie hurt on kamala harris breaking her silence and addressing supporters, senator joni ernst on the $50 million the irs goes on in angry democrat donors saying harris's campaign spending is disqualifying. carlos jimenez on tom homan's
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warning to sanctuary cities. the 11:00 hour of "varney and company" is next. ♪ to go further, you need to be ready for what's down the road. as energy demand continues to rise, we're harnessing breakthrough innovations to increase production in the u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road.
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