tv Varney Company FOX Business December 30, 2024 9:00am-10:00am EST
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it's been a disaster the last four years. cheryl: i want to point your attention to the op-ed in the wall street journal. here's the title trump is right on h1b visas really may be wrong on tiktok but is right to endorse the value of the visas between elon musk and steve being in. he's choosing the side of nationalism as opposed to the blinkered decline version. says the journal. >> i agree with the journal this is an important program adjustments to be reformed so big corporations are not taken advantage of and we need to improve her education to american workers have the skill set. >> while maintaining the culture that vivek ramaswamy brought up that many are happy with. todd piro, e.j. antoni thank you, a "varney & company" is out now. ashley webster is in pursuit. >> good morning, good morning, everybody. i am ashley webster in for
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stuart varney. we begin with jimmy carter the 39th president of the united states who passed away at the age of 100 from his humble beginnings in rural georgia to his groundbreaking work in human rights we will look at carter's legacy and how it stretches far beyond the holes of the white house. meantime a new report revealing that president biden still regrets his decision to withdraw from the 2024 presidential race, sources close to the presidency he believes he had a strong chance of defeating former president trump had he chosen to stay in the race. we will be sure to get into that. to the markets there is a sea of red on the features as we enter the final trading week of 2024. the gala 459 points. the s&p down one of the quarter percent and the nasdaq down 1.5%. thus take a look at the ten year yield earlier in the premarket moving lower that is the case down to 4.5x% well below the 4.6
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level. meanwhile the two year treasury yield also moving lower at four-point to 7% down 5.6 basis points. what about bitcoin slightly higher but slightly lower down $1800.92005 away. meantime on the show mike lawler warning his republican colleagues ahead of friday's speakership vote saying they're playing with fire and jeopardizing the trump agenda, speaker mike johnson cannot afford for them one republican defection and representative thomas massie has pledged to vote against them. as chad pergram always notes it's about. president electra telling the new york post he supports immigration visa for highly skilled workers aligning with elon musk. musk and others argue that it's vital for securing skilled labor
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not readily available in the united states. we will get into that and trump asking the supreme court to delay enforcing the tiktok the best band law arguing the incoming administration should have a chance to seek a political resolution and the court will hear arguments nine days before bytedance the owner must sell tiktok or face a band. jobs attorney claims he has a dealmaking expertise and political will to address national security concerns. we are one day away from the famed ball drop at 11:00 a.m. eastern today. the new york police department will hold a press conference about new year's eve security in times square. this is the nypd suffered a record number of injuries at the hands of criminals this year some officers blaming that on the surge of violence dealing with illegal migrants. it is monday december the 30 30th. "varney & company" about to begin.
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former president jimmy carter has died at the age of 100. carter served as the 39th president from 1977 till 1981. a humble peanut farmer who held the nation's highest presidency was marked by his efforts in human rights, diplomacy and the camp david accords. listen to what president biden had to say shortly after carter's passing. listen. >> is a sad day but it goes back on an incredible amount of good memories. today america in the world in my view lost a remarkable leader. he was a statesman and a humanitarian. jill and i lost a dear friend. i been hanging out with jimmy carter for 50 years and he used to kid me i was a first national
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figure to endorse him in 1976 when he ran for president. there was an overwhelming reason for, his character. ashley: president electra posting untrue social saying the challenges that jimmy faced as president came at a pivotal time for our country. i needed everything to improve the lives of all americans, for that we all him a debt of gratitude. president carter will be remembered not only for his time as president but his humanitarian work around the world for which he was awarded the nobel peace prize in 2002, carter was surrounded by his family and planes georgia when he passed. joe concha joins me this mor morning. let's begin with this, jimmy carter followed his principles behind it is presidency shape politics. >> good morning to you thank you for having me, jimmy carter had two legacies.
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his first as president as one of the worst presidencies of the past century and the iran hostage crisis in the gas shortages sky high inflation and that appointment in the boycotting of the olympics in 1980 was extremely unpopular. as a result we saw carter leave office with 34% approval, ronald reagan 144 out of 50 states in 1980. the second legacy that you outlined in president electra and president biden noted what he did post presidency especially his work with habitat for humanity building homes by hand for those less fortunate, thousands of them. his unrelenting push for human rights abroad that wonderment nobel peace prize two decades ago. his approval post presidency jumped to 60%. americans will look back at the carter presidency as a failure
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but will not look back on him personally as a failure, quite the opposite. ashley: next one. much like president carter, president-elect trump following his own principles. there are never trumper's in the maga haters by having said all that are we seeing a shift in american culture when it comes to donald trump. >> i think a large shift. you watch the nfl or the lpga, the women's golf tour and i seen people doing the trump dance when 2016 after he won you were ashamed if he was revealed that he was a celebrity or an athlete and you supported donald trump. now it's out in the open, donald trump remain true to who he is and what they want the united states to be. especially true on his perspective of cultural issues like awarding people based on merit instead of diversity, equity and inclusion, di that's an example not allowing
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biological men to could be a bit sports, allowing sex changes for minors and getting educational back to blocking and tackling focusing on reading, writing back opposed to gender identification or sexual orientation, the transition and the opposition to that especially helped him win the popular vote and every swing state this past election. playing back kamala harris own words with her sex changes with those illegally imprisoned was a most effective out of the campaign or maybe in modern political history. his victory will lead to less regulation and less government waste and massive domestic energy increases, secure border but the anti-woke sediment, the cultural aspect of the trump perspective the person country to the right he is an interesting stat. 48 out of 50 states voted more red than blue in this past election, that is a cultural thing more than academy border and foreign policy.
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ashley: it is the clearest of mandates. joe concha thank you for joining us this morning on december the 30th i cannot believe the year is over. thank you let's check the futures my domain. they are heading down in the premarket, the dow often present, the s&p gone more than 1% and the nasdaq down one and a third%, having said that these markets are higher for the year end even for the quarter. mike lee joins us as morning. we have two trading sessions left this year. is it safe to say that santa has given up his rally. >> too much eggnog or the grinch got the best of him when it comes to the stock market. what actually happened underneath the plummeting of the market the stocks have done so well the issue that pension funds need to rebalance so there sullied a lot of stocks and
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buying a lot of bonds. to hit the year end target allocation. when this happens algorithmic's trading, commodity trading, ctas conmen and put the market around in the direction that the going and the downside volatility and momentum always looks uglier than upside because nobody panics when they're making more money, nothing fundamental is changed to proceeding with cash and you missed out on these moves like nvidia, it was a great opportunity to own it much cheaper than you could've a few weeks ago. >> not of it is going to hurt the momentum going into the new year this is balancing the books as you pointed out in the magnificent seven is going to continue into the new year. can we see broadening of the market which would be healthier? >> absolutely over the last couple years it's been a story in the earnings growth for the last 12 months for the
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magnificent seven is in the mid 30s with the rest of the s&p 500 is low to mid single digits were next year you can expect the mid-20s for the magnificent seven in terms of earnings growth and 13 - 15% for the s&p 500 and stay with the macroeconomic backdrop due to deregulation the certainty, may be additional tax cuts to come cheaper energy earnings are likely to be better than forecasted and continue into the next year. ashley: i'm feeling optimistic you've done me a world of good and feeling good about the new year mike lee thank you for joining us. now this donald trump has slammed republican members of congress and former speaker kevin mccarthy, good morning great to have you back here, what is all this about. >> they did not deal with the debt ceiling the limit resumes on this thursday. trump once the biden administration to deal with it
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so he writes extension of the debt ceiling by previous speaker of the house kevin mccarthy a good man and friend of mine from this past september of the biden administration to the trump administration will go down as one of the dumbest political decisions made in years. trump wants democrats to take a vote on the issue, he faces backlash from conservative lawmakers who want steep cuts to federal spending that could complicate when he takes office. i would say republicans are in on the same page either. ashley: he does not appear to be. thank you very much. a new report claims joe biden regrets dropping out of the race because he thinks he would've beaten trump if he was not pushed up by his own party. charles hurt would take that on later in the show a lot to talk about there. donald trump says he saw benefits of using tiktok during his campaign. >> i'm going to have to take it out tiktok plug-in we did go on
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tiktok and we had a great response, billions of years. >> billions of vias and trump is urging the supreme court to positive ban on the controversial app. will asked pennsylvania congressman scott perry what he think should happen next. local ext goal. take a swing at your kitchen reno... meant that literally. or design your actual dream wedding. consolidate bad debt and fund all your ambitions with a sofi personal loan. go to sofi.com to view your rate. sofi. get your money right.
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the dow up 434 points in the s&p and nasdaq downward than 1% as prophet taking going on on the market and we start for real and 13 minutes. trump has promised the big dig one for his administration but he won't be able to deliver until the house alexa speaker and certifies the election. alex hoff joins us as morning, what is the latest on the race for speaker. >> we know there are holdouts and some will think this will get wrapped up by this weekend and it exposes a gap in the american political system. if there is a lack of consensus making that the electoral college is inserted up by january 20 who leads the country, the biden administration will be gone the next in line would be speaker of the house, there would not be one that would be worse case scenario for house speaker mike johnson who could only afford to lose the support of one republican right now he faces opposition from 4 - 10 supporters feel he will get
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reelected despite being weakened by the funding battle earlier this month we cannot squander away the days and weeks trying to pick a speaker when we have an agenda to pass to save this country. >> i strongly encourage donald trump to get on the phone with the five or six members who will not commit to voting for mike johnson. all this will do is delay us. >> the speaker vote is friday in the election must be certified by january's 36, no debate whether donald trump won the election but democrats are reveling in the gop unknowns. >> i don't think he's going to get elected on friday which is the day that we swear and on january 3 but they went to the bottom of the barrel to find them in the first place. i don't know how much deeper they can be. >> those that think the speakership will be wrapped up in short order first up for the new congress will ensure the secure border that's what
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johnson said is the first priority in humoring a budget deal is a word only lasted marce confirmation hearing to be had for trump's cabinet nominees. ashley: a lot to figure out. alexandra thank you so much we appreciate that pennsylvania congressman scott perry joins us now first of all before we get into the issues i want to get your reaction to former president jimmy carter. >> jimmy carter put his money where his mouth is. he was a champion for peace and neighborly love and i think that's how he will be reme remembered. he came into office at a tumultuous time politically and internationally dangerous for the united states of america with occurrences in iran and around the globe. i think you will best be remembered for rolling up his sleeves and being involved not only champerty but being involved in something like
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habitat humanity a legacy that lives through this very day. ashley: it does indeed, president-elect trump asking the supreme court to put a pause on the upcoming tiktok band he wants his administration to pursue a negotiated revelation, where you stand. >> i think we all agreed that tiktok poses a national security risk and as you remember when he was in office as the president he was the first one to deal with that but this was a point of leverage and obviously with the communist party of china would seize the united states as an adversary and i think the president would like to retain and the arming the freedom of maneuvering to get the best outcome for everybody and to allow the free speech component of this argument to prevail while at the same time to ensure
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that china doesn't have a lead on a national security subject or they can use the platform to center and throttle different media and different viewpoints that are favorable to the ccp and anti-american. that's where the president wants to be. ashley: very good. this is when were talking about near congressman mike waller warning against an ongoing fight for the house speaker role, listen to this. >> yes, yes, the fact is that mike johnson inherited a disaster would not gates in several of my colleagues teamed up with 208 democrats to remove kevin mccarthy which will go down the singleseat kid stupidest thing i've ever seen a politics. removing mike johnson would equally be as stupid. the fact is these folks are playing with fire. and they think that somehow they're going to get a more
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conservative speaker they are kidding themselves. ashley: strong statements, do you support speaker johnson? >> i would say this is on the stupidest things i think my friend mr. lawler voted to reduce our majority by kicking a member of his own delegation who had not been convicted in the court. criticism goes around and is apt for every member, that having been said we can have the disaster but we had over the last year end a half of having more democrats voting for massive bills than republicans under republican lighthouse. as these things go up into the wire and people will negotiate for different positions. but things have to change and i think speaker johnson understands that and if he's going to be speaker things will have to change we have to be able to move the trump agenda and we still need 60 votes and
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most of the democrats are not good to be for the trump agenda. the speaker has not been artful in navigating that to date. what will change to get the trump agenda accomplished i think that's where a lot of members or enough members are but i do feel unconfident it'll work out one way or another and will get the president's election confirmed and move on with the nomination and the rest of his agenda. >> scott perry pennsylvania. thank you so much for joining us on this monday. we always appreciate it. let's take a look at the features all pointing strongly down let's see what happens when the opening bell rings. that is next. ♪
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ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. ashley: as we head toward the end of 2021 trading we are seeing a selloff in the premarket in the belt itself rings a couple of minutes.
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keith fitz-gerald joins me, good morning to you, apple, microsoft and tesla are all undervalued. >> i do, not just undervalued but tremendously undervalued in days like today prove it, the scared money is getting shaken out. >> i like your nose, moments like this define who we are force a clarity of vision, what you mean by that. >> there are a lot of people that get scared in and out of the market they think that's what they're supposed to do but if you're investing what you want to do is find great companies and stick with them as long as you possibly can, case in point, tesla if you put a thousand dollars ten years ago you would sit on a 20000% return $208,000 give or take of my math is right but the point of my contention this is exactly when you have to make the decision are you in or are you out. >> you say the market is the
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only store on earth where people fear a sale why is that. >> again we let our emotions get the better as an investor if you're a traitor that's one thing if you're an investor that's the one thing you could not afford to have an equation you to take a hard look in the mere, that person you be okay. ashley: apple doubted the premarket but does this company when the race to portray in dollars market cap. >> i think it does and it was contentious at the time but were dealing with 200 million upgrade cycle in a ecosphere that involved every aspect of your life 100 billion plus run rate and services. i don't think it gets better than that. ashley: it's hard to deny. wonderful stuff thank you very much. were up and running december the 30th heading towards the end of 2024 the bell is ringing and
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the people are cheering and the confetti will fly let's take a look at the big board in the dow off out of the opening shoot 432-point down 1% everyone of the dow 30 chevron and merck leading the way down let's take a look at s&p. still up 25% for the year and now it's 24% great gains for the year right now 1.1% on the nasdaq, down a third of the present but as for the year the nasdaq is up 31.4%, still up 30% for the year not bad at all let's take a look at the big tech names no big surprise there all in the red profit-taking across-the-board, apple, microsoft, meta, amazon all over the biggest losers amazon down one and three quarters percent.
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let's take a look at the stocks, speaking of tesla major discounts on some models to close out the year. which ones and how much. >> between $485,300 on some model y and s. you get the discount and the incentive like three months free full self driving and supercharging. the stock is down for the third day in a row. investors are eagerly awaiting thursday fourth-quarter delivery numbers. look for a number north of 500,000, tesla says 515,000, the issue might be if you look all 2024 they might deliver 1.8 million vehicles but that's the same as last year because now you have growth concerns. ashley: what's going on with nvidia always a big favorite to talk about down with everybody
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else. what's going on. >> they call their robots jensen door but they're not making the actual robot just the equipment for them. it sees the humanoids as the next chat gpt because of chat gpt, generative a.i. can train the robots pretty well. this is good for nvidia's business. if you look at it the major companies that it sells chips to amazon and google they need to find another avenue for growth that's chips in human i'd robots. ashley: why not, it makes sense, but when playing was involved in a major crash over the weekend, what can you tell me. >> boeing stock is down 5.5% at 170. this was a 737800 operated by south korean airline. 181 people were on board and 179
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of them died when the plane skidded off the runway without its landing gear deployed. this was yesterday it hit a wall and interrupted in flames, investigators are examining bird strikes whether the control systems were disabled. the parent rushed by the pilots to attempt a landing after they declared an emergency. i would call this reputational damage for boeing even if they are not at fault when all the investigations are done this is the stock getting hammered again is down 30% this year and it's a member of the dow jones industrial average. ashley: it is indeed. while the social media stock is down as well what's going on. ashley: tiktok may live continuing competition. >> the president-elect asked the supreme court hold off on implementing the tiktok to vest or be on law. trump's attorney says given the opportunity to pursue a political resolution which can
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address both concerns, free-speech and national security. ashley: plaza in the valley for pelletier they have been on a roll they have been down 2%. it's been a good run. >> 360% to the upside in 2024. if you look in the final year shares have more than doubled their going out with a bang. it's very strong culture from the top down from alex karp to the developers you have the business that is government and enterprise. they are well-positioned to help organizations use a.i. and big data to do everything from directing resources after natural disasters to help unravel financial crimes. ashley: onto the supermicro suffering from volatility, down 4%. >> that's an understatement volatility this is a stock to
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trade $122 in march and $17 in november. they were hit first by the auditor redesigning say it didn't want to be associated with the financial statements. then we saw the stock and it tried to rally back. supermicro said an independent community found no evidence of fraud but is still volatile the stock is at 30 now down another 4.5% today. ashley: a lot of up and down for sure. also is micro strategy buying more bitcoin. >> another 2138 bitcoin with $209 million. there obviously the largest corporate holder at 446,000 bitcoin, that tallies up to the figure they spent on average 62000 per bitcoin $27 billion worth, the stock is down 5% today along with everything
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else. ashley: thank you very much, let's take a big check of the big board, down 533 points, that's a one and a quarter% drop for the gal, do we have many winners on a day like today, let's have a look on the dow look at the winners in the red, chevron, johnson, merck, these are the stocks having the least amount of drops. let's take a look at s&p, green, devon energy, occidental purpose enter petroleum and energy plays, each qt corporation up 30 to half percent. let's take a look at the nasdaq do we have any winners on what is a tough session. diamondback energy, and energy play, baker hughes only down to tenth and pepsico also down slightly. we will call that a winner. coming up, democrat senator ben
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condon were needs trump's tough talk on the panama canal to push u.s. allies away. >> of eden to russia and china with the appeal to other countries as whether they need to make alliance with russia and china. >> is trump really hurting america's global credibility? the best printer to answer that is kt mcfarland. mr. wonderful headed to mar-a-lago kevin o'leary wants to talk to trump about brokering a deal that would create an economic union between the u.s. and canada. o'leary is on the show at the 10:00 a.m. our from the far north himself. trump's return to office parking hope the scrutiny will use for more potential dealmaking. how is wall street going to react. stephen moore will be here on that next.
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>> close to the end of the trading year, the market is down and a lot of profit taking. the repositioning of the balance sheet, the dow off 600 points, down one another present, the s&p in the nasdaq down around 1.5%. , former president jimmy carter passed away at 108 georgia home yesterday. steve harrigan is in atlanta. honestly he was a very well respected man no doubt. >> certainly it's coming in from around the globe for president carter not only for his service but for the example you set
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after the presidency in the way he lived his life, he died in plain georgia yesterday at age 100 surrounded by close family members he was in failing health for some time including melanoma and hospice care for the past two years and praise is coming not just from political leaders but carter's example in ordinary americans as well. >> we can because i think it's awesome we have a country boy from plains georgia that was a peanut farmer that they became president of the united states and he was a simple humble honest good man. >> former president obama said carter taught us what it meant to live with grace former president bush saying carter's work with habitat for humanity really set example for generations of americans it will be a memorial service over the next eight days including here
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at the carter center that will be followed by a state funeral in washington into burial and plains georgia, president biden has a january 9 a national day good morning, back to you. >> thank you very much we appreciate that, stephen moore joins me now what are some of the lessons learned from jimmy carter that trump can take from. >> a great question, jimmy carter ran for president in 1976 as a fiscal conservative. someone who would balance the budget, return financial and fiscal sanity to washington. what happened he was in favor of called zero-based budgeting where every program would have to justify their budget every year what a sound idea that was and he was undone by his own party, the democrats had turned to the left in the
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post-watergate in the reforms that jimmy carter tried to put into balance the budget and get the incredible massive budget under control were undone by the democrats like to peroneal and his own party that's the sad thing about his presidency. he tried to do the right thing. what does that have to do a donald trump is trying to return american fiscal sanity and guess what many of the republicans in his own party don't want to do it they want to spend, spend. that's up can be more successful than jimmy carter was in that regard. ashley: talkative donald trump, wall street excited for less regulation under trump. many investors believe his administration could lead to a rebounding dealmaking which we haven't seen this much of, would you agree with that. >> i'm sorry rebounding dealmaking. >> dealmaking, yes. >> if you mean he's going to
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negotiate better deals abroad for the united states answer is absolutely one 100% yes i been around donald trump for nine years and i have to tell you this guy is a most extraordinary dealmaker and negotiator that i've ever seen. he was quite successful with regard to japan in the europeans in mexico and china he was able to negotiate good deals because he took a tough position and there's an old saying i would rather be feared than loved and i think a lot of the foreign leaders feared what would happen if they did not abide by his requirements. the classics example forcing the europeans after 25 years to finally start paying the amount of money that they owed us for nato expenses. ashley: time to pony up. steve mark, thank you for joining us on this monday.
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2024 pretty bad year for di big companies deciding to rollback their programs after failure to provide results. which companies are dumping di. >> somewhat include walmart, harley-davidson, deer, tractor supply, ubs, even colleges, they pull back on some of the di programs and trump is expected to eradicate di when he takes office either to executive order, legislation or lawsuits. he wants a return to merit meritocracy. the pic justice department civil rights division is harmeet dhillon she made a career suing corporation who used woke policies to discriminate against their workers. ashley: not surprising, one of the platforms a donald trump ran on get rid of the nonsense. thank you very much. coming up jimmy carter's finest
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moments was brokering the first peace agreement and the middle east known as the camp david accord, what lesson can we learn from carter's legacy. we're going to ask retired four-star general jack keane. trump announcing support of visas for highly skilled workers with specialty occupations, critics say they favor foreigners over american workers. will have the full report coming up next. ♪ (♪) (♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is.
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ashley: donald trump has a mind with elon musk and vivek ramaswamy on the h1v visa program it prioritizes farmworkers over u.s. citizens. matt finn is in west palm beach this morning. how does the program work and what is the argument. >> the program gives highly skilled workers access into the united states and in recent weeks president-elect trump and his team have held high low pile
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meetings in west palm beach trying to get on the same page for the 100 days but there's been discourse over the h-1b program with elon musk essentially leading the charge in favor of the visas using colorful language online. responding to a user on x him. the reason i met america with. with.(cart opening.ecl) people who built spacex tesla and other hundreds of companies that made america strong is because of h-1b, take a step back and blank yourself. i will go to work on this issue. vivek ramaswamy and nikki haley weyden. president-elect trump settle this matter telling the new york post he is in favor of the h-1b visa and asked people working for him and will continue to support a 20, they have given highly skilled foreign workers in the u.s. an estimated 85 to metro to thousand plus per year. some republicans the democrats tell fox business that the h-1b program is broken and should
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only be used to attract brilliant workers, they should not give away everyday jobs that americans can do. >> you should not have lower skilled things that can be done by american workers you should not have a category in the united states should not be for a counter entry-level it jobs. it should really be for exceptional talent. >> immigration all around a major topic, the biden administration has agreed to stop auctioning off large portions of president trump southern border law which had been selling for pennies on the dollar, here in west palm beach top canadian cabinet members met with the trump team about our northern border president trump has been threatening a 25% tariff on canadian goods and he doesn't fix what they call a flow of illegal immigration to drugs and drug country. >> matt finn in west palm beach,
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thank you very much. before we head to the break, let's look at these markets must take a look at the big board selling off toward the end of the trading year, the dow off 602 points, that is down 1.4%. the dow up 14% on the year. 13% but still pretty good year the momentum shifting taking a dip as we say on the final days were all over your money we will keep an eye on the market in the second hour of "varney" is next. morikawa on 18. he is really boxed in here. not a good spot. off the comcast business van. into the vending area. oh, not the fries! where's the ball? anybody see it? oh wait, there it is! back into play and... -oh no, it's in the water.
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ashley: good morning i am ashley webster and for stuart varney on this monday december the 30th. 10:00 o'clock eastern let's get straight to your money. on the screen a lot of red the market is taking a dip in the last trading day of the year. we got to chicago pmi for december falling unexpectedly to a sudden month low that does not help the sentiment but the dow is up 650 points, down 1.5%, the s&p downward in half and the nasdaq down one and three quarters% let's take a look at the ten year treasury which itself was falling in his dance
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