stuart: 30 minutes away from the opening bell let's check the markets of the rally underway, up 83 points. mark tepper. >> you want to stay invested over the course of the next four weeks were entering the best stretch of the year, stay invested. >> michael balboni. >> let's get the answer on drums let's not let that go any further. >> classified briefings underway. thank you so much, good to see you, have a great day, "varney & company" picks it up, take it away.

>> good morning everyone that was a terrific weekend for the president-elect this monday morning he is on a roll things are looking up friday tim cook arrived at mar-a-lago he bent the knee and stayed for dinner apple needs truck. the power elite to the army-navy game the crowd loved it, the chant usa broke out frequently, then you floated the idea prioritizing the post office ending daylight savings time, shooting down the mysterious drones, elon musk and vivek ramaswamy dramatic changes that will transfer the government, what a weekend it was. president biden laid low but it's a man security secretary mayorkas said the mysterious drones are not dangerous. to the markets in the headline this morning it is bitcoin and broke above $105,000 now it's back to 1038, modest gains for stocks in the premarket activity today the dow up 85, the nasdaq

doing very well up over 100 points that will be one half of 1% as for interest-rate looking at the tenure 437 that is a yield in the two-year around 423 to be precise, the price of gold, $2680 an ounce at step $5, oil $70 a barrel, gas the average for regular 302, california 432. diesel 3.49. president biden sums up his economic legacy he says thanks to his administration would come out stronger economically. to keep it going he's pushing out billions in new spending hoping to make it difficult for trump to undo the damage. softbank ceo will reportedly make a 100 billion-dollar investment in the u.s. over the next four years, he is expected to meet with the president-elect today at mar-a-lago, we will visit the d.c. restaurant scene

how will the wait staff and the bartenders treat the trump crowd we are told conservatives get very big tips. december 16, 2024, "varney & company" is about to begin ♪ ♪ ♪ ♪. stuart: i suppose this is the modern rendering of christmas music i suppose i'll take that, raining in new york today but we do need the rain president-elect trump met with a thunderous welcome at the army game this weekend you could hear the crowd in the background chanting usa that broke out frequently trumps cabinet pics were in attendance, tulsi gabbard, pete hegseth, ron desantis reported the defense

secretary backup if pete hegseth does not make it, elon musk popped up everywhere daniel penny was there less than a week after he was acquitted, trump posted apple's chief executive tim cook at mar-a-lago he is the latest in the string of big tech leaders including open i sam altman, mark zuckerberg looking to improve their relationship with trump, jeff bezos expected to visit with trump this week. my opinion the new mood of optimism in the country things are looking up you'll hear a lot about that throughout the show today. tim walz says he still surprised by the election outcome. >> i thought it was a real flex when the wall street journal pointed out that i might've been the least welcome person to ever run for vice president. how in the world did we lose to a billionaire or a venture capitalist when we were making the case of a county attorney and a high school teacher.

stuart: todd piro with me. americans aspire to be wealthy why the democrats demonize wealth. >> that is the point tim walz at the democrats wanted this to be a binary choice rich guy bad, poor guy like me good, that's not how americans view it they don't be a donald trump's wealth and elon musk's wealth as ill-gotten they view the individuals who worked their entire lives 24 hours a day seven days a week and they aspire to that, what they clearly rejected was the notion of getting rich off the backs of the government whether it becomes a handout from the government or living your entire life in government service and somehow making money off of your influence that is bad trump made the point and now look what they'll be doing with regulation they will remove regulation get government out of the way and let the private sector take off. stuart: things are looking up stay with me for the hour. bitcoin and other new milestone over the weekend.

a wet and over $105,000. >> make that 106,000 for the first time ever a small pullback at 104 the seneca stock market rally does extent to bitcoin in the past eight years, bitcoin has ended december higher between eight and 46%, six of the eight years, some of his seasonality the other catalyst was strategic reason for the government would keep bitcoin from asset forfeitures that makes bitcoin's security at the tenure chart since election day it's up more than 50% since november the fifth. they won 69 - 104000 another trump rally. a quick check of futures this monday morning it's all green

dow was up a hundred, nice gain of 104 points jacob sonenshine joins me this money do you see any frost, euphoria that is not healthy the parabolic move upward and bitcoin that is sustained with the straight-line the back your head parallel to the ground were and were in an environment where the federal reserve is more likely a few weeks ago to be close to a rate hike. and you speculative assets like bitcoin going way up in inflation or policy coming in 2025 and no place in about 2% in the stock market at 20 times pe and i do see signs of frost. stuart: that's not good for the market in 2025. >> it is and it isn't of the policies that come in in 2025 that are inflationary and they boost the economy and earnings

that markets have to understand from an evaluation standpoint in inflation above 2%, you can have the s&p at 22 times earnings and you can have bitcoin running straight up like it's on an upward escalator. stuart: a voice of caution from jacob, how about oracle i've seen that go straight up, what's the big deal. >> oracle after earnings went down 8%. >> that bounce back. >> it's got a nice bounce back but is not complete is not totally there yet when i look at oracle the big issue was currency, they grew revenue about nine or 10% if you grow currency there ramping up the a.i. business. stuart: i hear ads all the time for oracle a.i. business, thank you for joining us, see you later. drone striding across the east

coast. >> what is homeland security secretary mayorkas, what is he saying. >> he dismisses the concern that 70 americans and lawmakers have the 8000 euros attorney chait into the united states and they pose little risk and not a national security threat in our ability to capacity them whether you take them down that is limited. chuck schumer is asking the federal government to supply new york and new jersey with advanced detection systems, let us know what are we seeing, the problem is when you don't know you get scared and you also get angry, this is incompetence by the federal government lost trust and its ability to say who wants to harm us if anybody and what are we going to do about it. >> this is ridiculous. >> wrong answer. you had a month to generate this, wrong answer.

stuart: don't look too closely, nothing to see here move along, that does not cut it. >> it's never cut in any stage of the human experience we want information when creatures who want to seek out the information in their city there saying don't believe anything that you see it's all good and that makes you feel worse. >> migrants that have flown deep into the middle of the night, american see all of this and add drones to the list, why would you trust a government that doesn't have answers for you. >> are on their way out 35 days. elon musk gave us insight into what she thinks about her son's relationship with donald trump. >> they seem to be having fun and it's nice for both of them to have fun and i really respect him a lot and was happy there is a future for america. >> elon musk will be back on the show she's coming back in the

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>> text features up 60 on the dow, the hundred on nasdaq. how about bitcoin that the headline, $106,000 earlier, now it's back to 104 in small change, big tech company were

falling into line with trump's incoming a administration he's getting donation for the inauguration meeting with top industry leaders. doocy at the white house trump met with tim cook what came out of the meeting. >> what were seeing people who want to have a say in regulation that could affect "the bottom line" and keep dropping down to mar-a-lago to make nice with the president-elect google was deeply involved with a.i. and down in palm beach, jeff bezos known for amazon but blue origin could be competing soon for government space contract is also planning to meet with trump later on this week, these guys are a lot more eager for facetime the many elected democrats more than a dozen of them were reportedly planning to skip the trump inauguration and their noncommittal, bennie thompson mississippi congressman tells acxiom's he's rsvping and is going to lock me up and i don't see the excitement and to

see his inauguration, not every democrat feels this way, there is one lawmaker employing his democratic colleagues to be more understanding of incoming president and his team the one democrat that took a meeting with pete hegseth, senator john fetterman. >> there's no new news after that conversation. >> is not saying he's going to vote for pete hegseth but is hearing him out, that's the thing the party leaders cannot tell him not to do because of the moment the national democratic party doesn't really have a leader. stuart: software bank ceo will reportedly make a 100 billion-dollar investment in the u.s. over the next four years he is expected to meet with president-elect trump today at mar-a-lago, the incoming white press secretary is with us this morning, karoline leavitt joins us. any idea what this money will be used for it looks like a big win

for trump. >> it's a huge win for trump and another example of the trump affect, the ceo of softbank will be at mar-a-lago today, you will hear from him at the president-elect and just a couple of hours talking about the $100 billion investment in critical infrastructure and a.i. and the ceo is also promising and this is president trump delivering on the promise that he made to the american people on the campaign trail that he was going to make the united states of america the manufacturing superpower of the world to draw in foreign investors who want to do business here and he promised these investors if you come here and make your products integrate usa and hire american workers then you're going to have a 15% corporate tax rate the lowest energy cost and the lowest regulatory burden of any other nation on this planet president trump is not in the oval office yet and is delivering on his

promises for the american worker. stuart: that as an incentive, i want you to listen to what mitt romney had to say about trump. roll tape. >> maga is the republican party in donald trump is republican party today republican party has become the party of the working middle-class voter and you have to give donald trump credit for doing take it away from the democrats. you have to give the senator credit he's telling how it is this is a brand-new republican party is an. >> absolutely it may have taken mitt romney several years to come to the conclusion that president trump is right knee has revolved the republican party into the working man and the working woman we saw that on november 5 with the overwhelming outpouring of support from all americans regardless of r race r religion this is a movement based on the promise to make america great again that's what

president trump is going to do even his greatest attractors are joining his team and flying down to mar-a-lago to make amends with him, they know he's good to be back in the oval office in january he's going to make everlasting and monumental change for this country just like you promised on the campaign trail. stuart: we've been reporting a long list of tech leaders visiting mar-a-lago what is the president telling them we know what they want from the president, what is he saying i'm going to do for you or i want this from you at the same promises that the president made on the campaign trail it's less regulation, lower tax burden and to reduce inflation so these companies employ hundreds of thousands of americans can give their employees raises they can have more money in their pockets, that's good for not just the ceos of the company's but the workers who were employed by them you see not just folks in silicon valley but

everywhere from wall street to main street going to mar-a-lago president trump is proving you cannot ceos and american workers on the same team ultimately they want the same things, more wealth and border security and safety for this country they want to pull us out of the war that we see abroad making this country in this world less safe for americans. >> the president-elect is upset with europeans who are trying to find big tech american companies literally billions and billions of dollars the president does not like that, what can he do about it. >> the president certainly does not like negative action towards any american company or worker he is the market first president-elect after all you've seen president trump use of leverage of the united states when it comes to tariffs we saw him put out statements threatening to use tariffs in terms of border security and just entered a the prime minister of canada flew to mar-a-lago 15 minutes after seeing the statement the

president got on the phone with the president of mexico as well to talk about that, you will continue to see president trump using the negotiating leverage of the united states to make good deals for american companies, american workers and the american people. karoline leavitt thank you for being with us we hope to see you soon. some universities are warning international students get back to school before trump enters office, why are they saying t that. >> the word about potential changes president trump could bring including changing the visa processing system which could affect foreign students if they're out of the country, axios is reporting that ten colleges mostly on the east coast are telling the foreign students get back to campus before the inauguration january the 20th and get there for the start of the spring semester 1.1 million students in the u.s. is that fear mongering or good advice. >> it's fear mongering, trend a or huawei is not attending

colleges, that's could be the focus of who ultimately gets kicked out of the country for doing things illegal it is fear mongering, most colleges and universities are not doing this, it's not in round one will me of a blueprint to see what he did he was going to harvard and pulling out anybody from a foreign country, he knows the colleges and universities need the foreign income to survive. also these people are not doing anything wrong they are on a student visa. >> they pay triple what we pay as americans to go to the schools and their established universities. >> check futures towards the opening of the market plenty of green come up 100 on the nasdaq, 30 odd on the dow. the opening bell is next. we will take you to wall street.

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stuart: check futures plenty of green nasdaq up 90 points

premarket, keith fitz joining us, a.i. is going to be a trick and other business by 2030 and you brought stocks to cash in, let's start with palantir. >> palantir is going to make data intelligent, what this does, you cannot just have data this is where people go wrong palantir makes data talk to each other yet civilian and military government contractors all looking to do intelligent things with huge amounts of data that we've been accumulating and legacy assistance cannot be used effectively the ontology, the language model the all layer together what help companies derive value in the supply chain in the manufacturing chain, pre-world war ii and american industrial base now we need to resurrect that at every facet and every level of our industry. stuart: everybody is talking about palantir, does it have any competition? >> it does not and there is

nobody else out there that builds integration, there are a lot of companies that deal with legacy software and companies that deal with a particular technology but they are the only company that i've been able to find and i look hard to bring them together and give you useful output. stuart: you also think that tesla is part of the a.i. trying another business by 2030. as tesla and a.i. stock? >> no question about it you're talking about vehicles but robotics and energy production and trading and finance in the largest real-time decision-making database potentially in the world, what elon musk and mr. musk has done that is so different he made all work together people are tempted to say that and just robotics and verbal taxis it's not, the brilliance and all things together and all talks and it all combines information. in real-time the value to the 1 trillion is probably going to

be low but by 2040 that's as high as $20 trillion if the fed doesn't lower interest rates this week is the stock market in trouble. >> i don't worry about a lot but the thought occurred that he may go off script or he may stand pat that will roll the market for the short term or longer-term that will be an opportunity because powell will be out or go to the woodshed i don't know which is going to be but short-term we have so much long-term potential growth in new president coming in reformation on every level. stuart: your message, by. thank you for joining us, all good stuff. we have ten seconds to go to the open of trading on wall street. it looks like were going to be higher in the early going, i always like to say you never know how it's going to close out in the short run the first hour business a little bit of green

the market is open on the upside for the dow jones industrial average is a gain of 20 points, very early going, europe 20 points at this stage, 43850 and there's more green and red among the dow 30, more winners and losers the s&p 500 on the upside, 16-point to quarter percentage point, the nasdaq composite, that is to the upside of the tune of a half 8%, 20025 is a level. show me big tech, alphabet, amazon, meta, apple on the upside, three stocks will make the nasdaq debuts next week that will include palantir and micro strategy both of them are up. >> palantir is done we saw the run of four 100% alone. this house is the largest

nonfinancial companies one week from today on monday palantir, the a.i. powered software company joined the index and so does micro strategy that the software company but also a major bitcoin buyer holds $44 billion in bitcoin on the balance sheet, 2% of the entire bitcoin supply in the world the shares are up 545% this year, what addition to the nasdaq 500 me to etf a mutual fund that tracks it have to buy shares of the company's and those investors are getting more a.i. and were bitcoin exposure the final thing axon that the taser company they're being added as supermicro and modern arm removed. >> trump is rolling back biden dv policies, what we know about this. >> reuters is reporting he will cut support for ev's and slap tariffs on the materials that go into making the batteries and clawback funds that are left over that of been earmarked for

charging stations. you would think all of that would be a negative for tesla, a new high for 39, the stock is up 1%, tesla as keith said this is an a.i. company and its anonymous company. it is the company of the future in the ceo is donald trump's right-hand man, wedbush is giving the mobile case price target of $650. stuart: over the next 12 months? >> their price target is 515 their bookcases 650. bitcoin, 144 is the price there. that is pushing the crypto stock going up as well. >> i talked to a lot of people in the bitcoin community and there is a lot of talk about potential day one executive order from donald trump which would be the strategic reserve for bitcoin.

it's just chatter but that's of the community isn't enthusiastic about. and that has other sovereign nations of the own binder bitcoin. everyone is trying to buy, the price goes up there is a limited supply of 21 million bitcoin's. >> i suspect it's been put out by the crypto community. >> one 100%, nonetheless. >> they have the presidents ear. stuart: apples plated a big update for the new iphone. >> three new phones reportedly, two of them would be foldable one would be a folding iphone, todd is trying to full his iphone it could be equal. >> but the other one that is reported is a folding ipad it's an ipad that folds but when it's unfolded it can be as big as your desktop monitor which is

tremendous in its game changing, there is also talk of a cheaper and thinner iphone more basic if you will. i would bottom line is whatever happens apple is pivoting back towards hardware in addition to a.i. apple intelligence to get you to want to buy it stuff, investing in hardware. it's almost intuitive $50 a share. stuart: that would be high, intraday. citigroup, bullish on micron technology, that's giving them a 2% gain. >> they reiterated thereby and $150 price target because they expect results wednesday after the closing bell, to be okay guidance might be below consensus but city is saying don't worry about it that's because the dram chips are old news, micron is now investing the high-bandwidth memory chips and nvidia is already using them in there using the men blackwell, that is why micron is

up 207%. let's avoid the computer section and move on to capri exploring the brands that they have. >> the super luxury, bruce saatchi and jimmy choo, the fashion publication is reporting that capri which owns michael kors, affordable luxury, the working with buyers and banks to fund buyers of jimmy to their strategy did not seem to work they tried to be the american equivalent of ellen bh and maybe do in a more assessable way that's why i mention michael kors, if that does not work now you have the report that they're trying to sell off the expensive brands like versace. stuart: if you can't beat all the mh, sell your brands, give up and walk away while you so have a dollar in your pocket. coming up the form of pollster is finally responding to critics after she got the final iowa

poll totally wrong, watch. >> they are saying this was election interference which is a crime. the idea that i intentionally set up to deliver this response when i've never done that, before i had plenty of opportunities to do it. it's not my ethics. stuart: we will see what joe concha has to say about that. the ceo of softbank plated a 100 billion-dollar investment in the united states. edward lawrence has that story from the white house. ♪

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states, trump will make remarks that the leavening of eastern time, you will see what he has to say, edward lawrence at the white house, what will the $100 billion be used for. >> press secretary caroline levitt confirmed as about investments in the united states and technology specifically, the ceo of softbank will announce $100 billion of investment over the next four years in the u.s. at 11:00 o'clock he will be with president-elect donald trump for the announcements related to artificial intelligence in chip making technology, the company controls arm holdings which controlling ceu's and the tech heavy fission funds and is offering investment 100,000 u.s. jobs. >> he promised these investors if you come here and if you make your products into the great usa and hire american workers, you

can have a 15% corporate tax rate, the lowest energy cost and the lowest regulatory burden of any other nation on this planet, president trump is not the oval office yet and he's delivering on his promises for the mckim worker. >> president biden pending an essay where he is trying to rewrite economic history in the essay saying the pillars of economic growth investing in the future, lowering costs and helping small businesses president biden signed $7 trillion in taxpayer money into law the investment is there, heavily skewed toward wind solar and other energy projects america t20 to half% rise in prices over the last four years and many small businesses told fox business cost as well as new regulation under the biden administration hurt their bottom line, president biden kept the team going. >> one thing i believe about public service in the presidency is importance of asking yourself how we left the country better shape than we found it? today i can say with every fiber in my being all my heart the

answer is a resounding yes. >> a majority of voters said no on november 5 at the ballot box. stuart: perfect time to begin our favorite economist stephen moore, it sounds to me like biden is trying to take credit for any economic progress in trump's next term, is trying to grab credit for what trump's going to do in the future, what say you. >> i cannot stop smiling, this is an amazing story, $100 billion of new investment in the united states i think you said 100,000 jobs you been waiting for this for a long time and under biden we've seen a lot of disinvestment in the united states factories and businesses moving out there moving back in and trump wasn't even president, that's the most amazing thing he doesn't actually take office he doesn't move into the oval office for another month but it doesn't seemed like he's the acting president right now in

terms of the way he's conducting himself in the way the all the foreign leaders are coming to meet with him. it's exciting and you put it very well if this didn't happen by accident as a lower energy cost is a lower tax rate it is the deregulation of the economy all of these things paint a rosy scenario but the academy today is not good as you said the average inflation of goods and services is up 21% since biden came into office and incomes are only up 18%. the average family does not feel like they're better off than they were four years ago and that's with the election was all about. >> it certainly was, and your new article your same trump is igniting a worldwide revolt against the elites. it sounds good to me, tom emmer. >> it's happening all over, britton will be what are the first domino of all and

incompetent labor government there the conservative party screwed up and i think people around the world and britain and europe and many other south american countries and asian countries use all happened in korea where they ousted the prime minister uc and france and all over the world, trump is not just popular here in the united states everybody in the world is locating what's happening in america with this populous power to the people movement and people are saying we want that here in our country, i am predicting within the next 18 months you will see major government topple bringing a populist champion candidates it i think it's a great thing to bring prosperity to the whole world. stuart: can we get a quick comment on the idea that we start a national reserve using crypto and bitcoin on day one of the trump administration as an economist what do you think of that. >> i believe in the dollar the dollar is the world reserve

currency and i don't think the dollar is ever going to be replaced in that regard but i think it's a healthy thing to have this competition from bitcoin and other crypto currencies and by the way i want to put a pitch in for something that my friend judy shelton has been talking about. i think you had her on your show many times she's talking about a gold backed treasury security and i love that idea, that is another thing trump should do on day one make the dollar as good as gold by having a gold backed treasury security, what do you think. stuart: is on a going back to the future that's what it sounds like to me. thank you very much for joining us this morning you covered a lot of ground but we have a lot of ground to cover all good stuff, thank you stephen moore. elon musk and vivek ramaswamy laying out where does will make government cuts, they have their eyes on everything.

>> let's start with the taxco, 16 million words and we spent six and half billion dollars a year preparing for our taxes. look at this, defense, why does the pentagon year after year fail audits and they have a budget of $824 billion, how about this authorizing $516 billion on expired programs programs that expired a decade ago spending $759 million on di at the end of nih, do you need that much diversity in healthcare the government owns 8000 buildings that are vacant. >> that was part of the weekend extravaganza in the army game in the postal service. in the mood of the country has shifted. >> i thought you wanted me to respond everything in the

scroll, that goes to the whole thing, this is like our economy, people feel better when they get rid of the old and start new that's what this is, getting rid of the old clutter that weighs us down is what are the most freeing things that we do, do you ever do spring cleaning and feel ready for spring, this is doge he's going to clean up the government and preserve our taxpayer dollars and that's why people feel good. >> i think that was really good did you just make that up. >> i literally made that up, bucket fox business. >> does the regulation bring you joy. >> i love it. thank you very much, programming no. elon musk mom may musk will join us in the 11:00 o'clock hour she will be in the studio. i'm going to ask her when she first noticed her son was a real

genius. it's been a month since we first heard reports of mysterious drones flying over new jersey, the government tells us move along, there's nothing to see. that is my take at the top of the hour. the postal service lost $100 billion since 2007. donald trump thinks that's a big problem. the washington post reports he can prioritize the postal service. we are going to cover it, were waiting trump's remarks on the $100 billion soft back investment in america we will bring that to you and the 11:00 o'clock hour this morning. ♪ chase really knows how to put the hart in your local community. see what i did there? hey, jackie! (♪) evan, my guy! you're helping them with savings, right? (♪) i wish i had someone like evan when i started. somebody just got their first debit card!

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stuart: the postal service can be inferred overhaul, president-elect is considering prioritization. jeff flock in philadelphia, we know the postal service lost 100 billion since 0 seven tell me how much they lost in 2024. >> you're always so concerned with money i don't understand, $10 billion by the way but who's counting for crying out loud, the once and future president is counting in mr. trump says he's

thinking about he hasn't said it publicly but reports that he's think about privatizing the postal service. according to the washington post he's talked with his incoming or potential income howard lutnick about advertising the service and saying he doesn't think the company or the postal service should be subsidized anymore, as you point out they lost a lot of money but they have a big mandate, take a look at the numbers, 167 million addresses that is mandated and must deliver to. half a million career employees, 31000 properties owned and leased around the country but it delivers 44% of all of the world male, pretty impressive, you mentioned 100 billion and i mentioned the 10 billion those are the losses in the postmaster general was on capitol hill last week and he got a near full from from republican congressman from

georgia and louis dejoy appointed he's a republican during the trump administration. here is the exchange quite amusing. listen. >> you do not get an a grade, you cannot give yourself that grade. >> i just did. >> i'm trying to fix the postal service. >> before my watch the same stuff. >> all the a.i. with the computer systems your worse if i took a horse and picked up the mail delivered 2 miles down the road. i love to do that. >> that was cruel, merry christmas will see you later. a big monday show, joe concha,

same trump smarter than his critics, why don't we know and will ask elon musk mom maye musk what it's like at elon's meetings with trump, she's been in the room. more "varney" after this. y'all see this, patrick mahomes is saying goodbye! patrick! patrick! people was tripping. where are you going!?

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