to be hiring more and more people. i want trump to the put a complete freeze on hiring and get rid of people through attrition. we want private sector growth, not government growth. maria: well, that was the whole point that elon musk made as well, that if the government employees don't work five days a week, just put that rule in place and then they'll say, well, i don't want to work five days a week, i want to work if home and maybe i'll quit. great discussion. such a smart discussion, everybody, thank you very much. julia pollack, is stephanie pomboy, steve moore, jerry storch, john loan i sky and, of course, cheryl casone. we've got a market that is down, roping today after -- reopening today after being closed for the funeral of jimmy carter. the nasdaq down 235. the market opens in 30 minutes' time, and i will see you tonight at 7 p.m. eastern. "varney & company" picks it up. institute stuart good morning, everyone. just a half hour ago the jobs report, and oh, what a shocker,

much, much stronger than expected. 256,000 jobs added to the economy in december. the unemployment rate coming in at 4.1%. market did not if want to see a strong the job performance. it probably means no rate cuts in the immediate future. so let's see how investors are reacting. the dow off over 300 points at the opening bell, and the nasdaq down about, what is it now, 255 points, well over 1% down on the nasdaq. here's the big problem. interest rates. they're going straight up. the yield on the 10-year coming in at 4.77%. say good-bye to mortgage rates coming down. they're going to go up. the 2-year yield withs well over 4.3, you're at 4.36 right now. big problem for investors. bitcoin, it was around $94,000 before the jobs number, now we're looking at $93,400. right. to the los angeles fires. five still burning. the biggest, if palisades fire,

has destroyed 5,000 buildings. it is 10,000 buildings destroyed citywide. 35,000 acres burned, all l.a. schools closed today, some have been burned to the ground. there is clear anger at the authorities. governor newsom confronted on the street, mayor karen bass sharply yesterday about her performance. president-elect trump blames both and says they should both resign. there is another story and it breaks in about a half hour, trump will be sentenced in the new york hush money case. no jail time, no fine, but the case will go on the record with trump as a convicted felon. trump will appeal. i hope he wins because this is an example of the democrats' lawfare attack on their political to opponent. we've got a big show. friday, january 10th, 2025. "varney & company" is about to begin. ♪ ♪

stuart: ah, yes, we begin this morning with the latest on the fires in los angeles. max gorden is in pacific if palisades this morning -- pacific palisades. any new fire outbreaks overnight, max? >> reporter: hey there, stu. well, the kenneth fire has been burning, that's the newest fire here if los angeles county, as five continue to rage. now here in pacific pa palisades, we thought this area was relatively safe, that there was no more fire activity, but just senate past -- in the past few minutes we've seen a flare-up over that that ridge. we don't know what exactly is burning, but it appears to be some sort of building, some sort of structure. it just shows how fluid of a situation this is. yesterday we talked to one man who with defied evacuation orders, stayed behind in malibu because he wanted to protect his home. we talked to him about what this has been like for his community. take a listen. >> my daughter has 23 the kids

in her class. 11 of those kids have lost their homes. it's not like a here and there thing, it's everywhere. and our whole town, city, it's just erased from the map. doesn't exist. >> reporter: it is the really hard to describe the extent of in this devastation, especially when it's still dark out like now. but entire neighborhoods have just been decimated especially here in pacific palisades. and, unfortunately, the death toll continues to rise. ten people now confirmed to be dead. the human element has also played a role. yesterday a super scooper, one of these fire-fighting aircraft, had to make an emergency landing because a drone hit its wing, a civilian drone. that damaged the aircraft. it has to be to down now. so a lot of challenges for firefighters here on the ground. hopefully, mother nature helps out with these winds subsiding, but a tough fire fight still ahead and so many people without their homes nowment stu?

stuart: thank you, max gorden. listen to the major of -- mayor of los angeles, karen bass, fail to respond to questions about her preparations for the fires. >> i think the focus of all of us here with one voice is that we have to protect lives, we have the save lives and we have to save homes. rest assured that that -- >> reporter: but that did not happen. >> rest assured -- let me finish. rest assured, when that is done, when we are safe, when lives and homes have been saved, we will absolutely do an evaluation to look at what worked, what didn't work and to correct or to hold accountable anybody, department, individual, etc. stuart: yeah. you're still not addressing the cause of this fire. jason chaffetz with me this morning. the politics in california, this is my p they just have to change. there's no other way around it. you can't rebuild and recover under the political leadership. >> i think the governor and the mayor with should both resign.

they helped create this problem. they're not going to solve it for the people of langeless. keep -- los angeles. keep many in mind where they put their priorities. it was about the smelt fish so the water wasn't flowing. donald trump pointed this out years in advance of that, and they put all these billions if of dollars to fight homelessness and to go and fight the illegal immigration and support those people, give free health care te budget, and then they wonder why these types of things happen. these types of winds come on a regular basis. not to this level necessarily, but it is a complete, total failure. how water is not if in a fire hydrant is unbelievable. stuart: gross inwe tense. >> yes -- can inwe tense. stuart: the jobs report, 256,000 jobs added in december. that's a very strong performance. good morning, lauren. tell me about -- lauren: yeah. and that strong number is being meant with a lower unemployment rate. it surprisingly fell to 4.1%.

so if you're keeping track, all of last year, 2.2 million if jobs added. 69,000, you can see it right there, in health care. retail bounced back to a 43,000 gain. government comes in at 33,000, but i do want to point out, yes, that's ripe for doge and elon musk and vivek ramaswamy, but it also includes local and state. factories lost 1413,000 -- 13,000 jobs. i was looking through the the report thinking of the wildfires. there is weakness in the real estate sector, in building materials. we're going the need jobs there so california can rebuild. this is the reaction in the market and here's why, treasury yields way up. stuart: there's a switch. lauren, thank you very much, indeed. kenny polcari with me this morning. kenny, does this mean -- let's turn this around. does this very strong jobs report mean there'll be no rate cuts in the immediate future? >> i don't think we're going to have a rate cut all a year,

quite honestly, and i've been saying it for a while. i think the data's been telling us that the fed has been wrong. the bond market's been telling us that the fed has been wrong. today's report tells us that the fed is wrong. the labor market was not slowing the way that jay powell told us it was in september when he had to to make that very bold 50 basis point rate cut. made no sense. and if now it makes even less sense. stuart: is this strong jobs report, is it good for trump? >> so listen, it could be good for trump unless it suddenly is taking root as inflation. if we see inflation take off again, then it's not going to be so good for trump, right? if they can hold it, if inflation stays at bay but yet we have a strong economic report, that will be good for the economy and then good for trump, for sure. but if inflation really starts to take off, then they'll flip if it around, and they'll blame trump and do all this stuff. meanwhile, the seeds have been planted now, not when he was

president, but now. stuart: here's my problem, when the yield on the 10-year treasury goes to 4.76 as it is now, you can't expect mortgage rates to come down. mortgage rates are going to go up. i think that's pretty much built in. and i notice that the yield on the 30-year treasury bond went to the 5%. if it went to 5% on the 10-year, for example, i think you've got a real problem, right? >> well, you have a real problem if the 10-year goes to 5% if the economy starts to fail or if inflation starts to rear its head. look, the stocks can act okay if we have a 5% yield but the economy's strong and inflation is under control, right? that would be okay. but the fear is now that the yields are going to go to 5% because inflation is going to the rear its ugly head. that's' a probm for the markets. but with higher rates, stocks are going to have to reprice under a higher rate environment. part of this is okay as stocks reprice. investors shouldn't be panicking

and running out the door, they just immediate to understand that stocks will go through this repricing, find their bounds and then move from there. stuart: ah, but do they have the stomach to buy the dip? kenny polcari, great stuff. you know what i mean. [laughter] have a great weekend, and e we'll see you soon. >> you as well. stuart: path pennsylvania senator john fetterman says he's going to to meet with president-elect trump. >> i'm having a conversation.. i'm meeting the president and trying to be, you know, i am not the senator for just democrats in pennsylvania. i'm everyone's senator in pennsylvania. and so it's just having a conversation with, with the president. it's pretty reasonable. stuart: so, jason chaffetz, is this a repudiation of the heft? i mean, no liberal is ever going to meet with donald trump, but fetterman does. >> senator fetterman is ending up being the most reasonable can democrat out there. and you know what? to donald trump's credit, he'll work with anybody who will work

with him if he's got a sincere heart and i think senator fetterman is taking the lead and saying, yeah, i want to solve problems. stuart: who would have thought he would emerge as the common sense senator? >> wearing carhartt sweatshirt ises. i want to see those at mar-a-lago. stuart: coming up, watch this lady from pacific palisades con front governor newsom if over the disastrous response to the hydrants. >> why was there no water in the hydrants, governor? >> [inaudible] >> is it going to be different -- i would fill them up personally, you know that. stuart: that woman is going to the join us in our 10:00 hour. california, one of the highest taxed states in the country yet they didn't have the resources to prepare for the fire. we'll have real estate guy maurice owe e man sky on what it's going to do to take rebuilding. we're also waiting for trump's resentencing set for 9:9 30

eastern, just a few minutes away. and it's ten days before his inauguration. you'll get the news pronto. ♪ where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management

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stuart: plenty of red ink, dow's off 200, nasdaq's down 185. here's the problem, the 10-year treasury yield going straight up. you're at 4.76 right now following a very strong jobs report. the price of oil, check this out, $76.96, almost $77 a barrel. forget about cheaper gas. gas prices are going up. back to the fires in los

angeles. first responders still having trouble trying to contain the flames. bill melugin joins us from pacific palisades. please, describe the devastation, bill. >> reporter: stuart, it looks like the the area was carpet bombed. honestly, it looks like the pictures we saw after hiroshima in world war ii, and i'm not exaggerating. i'll step out and give you a look at what we're seeing. pacific palisades, just one single street where every single house on this street has been completely wiped out on both sides. we are talking multimillion dollar homes. we've got melted cars. basically, the only parts of these homes that made it through are their brick chimneys. just rubble all over the place. take a look across the way, stuart. just in the last 15 minutes, this new random, i don't know if it's a spot fire or if something reignited, that just started. it looks like there are fire crews over there trying to handle that, but it is the just absolute devastation out here with more than 5,000 structures

destroyed, and it's about to get harder for firefighters. take a look at this video. l.a. county has these two aircraft called super scoopers. they are incredibly important. one of them is grounded now because there was a civilian drone flying around out here yesterday, and it crashed into one of the super scoopers and damaged its wing. it needs to be repaired, so it is now on the ground. these are the the amazing aircraft we see dipping into the pacific ocean and dumping water on the fire. they do close support for these firefighters, and now one of them is on the ground because some moron out here was flying a drone and damaged it. the faa is now investigating, they're going to the try to find out who did it because it is a federal crime to fly drones during an active fire fight. we want to show you this video, tuesday morning showing the moment this palisades fire first broke out. my friend runs a youtube channel over at lax, and his live cameras captured the first flume of -- plume of smoke in

the background. 125 minutes later -- 15 minutes later, big flames rushing towards homes. we all know what happened after that. unfortunately, we're up to 10 people dead as a result of these fires, 2 of which were right here at the palisades fire. back to you. stuart: we'll take it, bill, thank you very much, indeed. california-based real estate expert mauricio umansky joins us. how are we going to the handle this? >> we've been in an insurance crisis now for many, many years. we've had a lot of disasters and, you know, the government's going to have to step up. the state government, the the local government, we're going to have to get help from the from the federal government. i predict that the damage is going to be the north of $100 billion, and we're just going to need help from absolutely everybody. stuart: when it comes to rebuilding, how do you rebuild with all the regulations and permitting problems in

california? how do you do it? >> well, again, this is going to have to be a process. there's going to be a lot of questions asked. right now i think there's few answers. obviously, we need to get ahold of the fire, get people into houses, and need to take care of all of our residents that have lost their homes and have been displaced. you know, even if you haven't lost your home, the the likelihood of getting back into your home for a short period of time is very unlikely. we've got to go clean the water, we've got to get power back on, electricity back on. the government's going to have to step up and make permitting easier, put up a task force that really gets, you know, involved in all of these things and help with the rebuilding. stuart: wait a second. mauricio, do you really think that the current leadership in california is going to seriously reform the permitting process, seriously reform all the green regulations? the current leadership of the state, i don't think heir going to do it. they're going to do it. >> yeah. i hope they do because that's

who we have and that's what we need, that's what the residents need and that's what i need here in the country -- in the community. i don't think they're going to do it. they've proven time and time again that they don't have the means to do it, the brains to do it, the -- they just focus on the wrong hinges. one of the the largest economies in the world, we're the highest taxed economy, state in the country, and we're just not doing things right. we haven't proven ourselves to do things right. but the optimism in me is hoping and praying that for the rebuilding of these communities, that we do the the the right thing and we figure out how to do it. they get a task force, they get advisers around them that that know what they're doing and that they listen and that that they actually act. but, no, stuart, they're not -- unfortunately, they're not going to do it. stuart: i'm going to make a prediction. within the next two years, a republican will win statewide office in the state of california. that's my prediction.

mauricio, thanks for joining us. good to see you. maybe wishful thinking. fox corporation has donated a million dollars to the red cross california wildfires' relief effort. visit go.fox/red cross or scan the qr code on your screen. california officials now warning about looters. what are they saying, lauren? lauren: well, they've arrested at least 20 of them for looting in disaster zones. the l.a. sheriff, robert luna, he's coming out strong. if the you are in an evacuated area and you're not supposed to be there, that's a misdemeanor. if you create a crime, that -- commit a crime, that this jumps to the felony. they may enforce a 6 p.m. to 6 a.m. curfew starting tonight. possible. stuart: jason, come back in, please -- >> what are they talking about? they haven't enforced looting for years. i mean, you could go walk into any store and go steal sufficient, and they don't have any if problem with this. where's e the national guard? i saw bill melugin earlier, and

he's saying -- he's on the ground, you can see him, he's there. they haven't seen a single national guards person there, and it's the been how many days? you can't take this long to react. you have to be able the put these things in place. there are some checkpoints, but this looting is going the to get out of control. stuart: going to be political change in california. it's going to be called for. jason, thank you. check futures, dow off 250. nasdaq down 200. the opening bell is next. ♪ ♪ your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities.

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invest in bitcoin at itrustcapital.com today. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management stuart: i 9:30 eastern, that's in a few minutes' time, judge juan merchan will sentence president-elect donald trump. it's going to be a virtual sentencing. trump is not in the courtroom. we're going can to bring you all the details as soon as we have them. that should be in about four or five minutes. can check futures. again, red ink across the board because of a very strong jobs report. mark mahaney with us. i notice you've made big changes to your large cap stock picks. doordash gone. why did you replace it with expedia? >> yeah. we bumped up both expedia and

google into our top picks' list. uber remains my top pick, the only one that's really, truly dislocated. doordash has had a good run, so less upside. we like it as a stock, but i think there's more upside to expedia where travel is conning to show row row -- continuing to show robust growth into '25. it's trading at 13 if time it is earnings, a major discount to the market, and there's a nice improvement play at the company you should new management. google we reuped because the regulatory and a.i. risk to bag to -- google, it hasn't disappeared. but i think it's materially are come down for a variety of different thicks and one quick data point is apple stepping in december 23rd, right before christmas, and filing -- adding its opinion into the doj google search antitrust case saying, hey, we're not interesting in --

interested in building our own search engine and, by the way, government, you shouldn't dictate to us whether we should receive google search payments. it reduces the risk there's a material share loss opportunity for google. so with that, we upped google into our top picks list. stuart: it's at 194 right now, you think it's going to 2025. okay. i've really got to get back to uber. uber's in the mid 60s, but you consistently put it up there as going to $120. as doubling, in fact, in this year. make your case again, please. >> yeah, yeah. and, you know, you can see the stock kind of bounced off that 60. last time we talked about this, stu, it was hitting at 60, and, you know, my pick has been uber at 600 is like google at 160. very negative sentiment and yet all you need is one or two quarter, and you could see uber gap up materially just like google has done. i think this concern that robotaxis are going to displace

ride-sharing, i think there will be row bow taxis on uber's network over the next two, three, four years, and that overhang, i think, will be removed from uber. by the way, they're accelerating their share repurchase plan which is what they absolutely should do. they've got plenty of cash, $6, 7 billion in cash, and they're starting to buy back more from shareholder, and that's helps with the earnings growth. stuart: i do hope you're right about uber because i bought a thin sliver of it on your recommendation, mark. that's okay. one more for your. amazon, you say it's going to 260 per share. again, 20 the seconds to make your case. >> i think this is the year of advertising revenue growth acceleration. i think this is the year that cloud revenue continues to accelerate. those are very high margin businesses, and so that's good for the overall finances of amazon. it's one of our top picks. stuart: going to $260 a share, we think. thanks very much, mark. see you again next week. >> thanks, stu. stuart: away we go. friday morning and the trading

day do has begun. there's plenty of red uncle right from the get go. dow is off 200 point, and if you look at the dow 30, far more red than green. this is a downside market this friday morning. the s&p 500 also opening lower, down .65%. the a nasdaq composite, a sharper loss there. you're looking at a -- no, almost 1%, .if 89 percent. still 174 points for the nasdaq composite. big tech probably mostly red. not bad. alphabet, had be with google, up $1. meta up 70 cents but amazon, microsoft and apple are all down. the l.a. fires are a huge problem for the insurance companies, obviously. it's a crisis. lauren, which companies foot the bill? lauren: these are three big ones. chubb, warren buffett has a stake, it's the most of the high net worth policies. allstate, travelers all down. jpmorgan doubled their insured

lost estimate of these wildfires to $20 billion with, that's insured losses that these companies are going to have to tackle. economic losses, i've seen numbers between $50-150 billion. so for the insurance industry, losses and liabilities both spiking. stocks down. stuart: let's get to nvidia. i believe it is down today, off nearly 3%. i why? lauren: bloom bell berg is -- bloomberg is reporting chip export regulations could be reported as soon as today. they are slamming president biden for these last minute rules. look, the point of an export control is to make sure that adversaries like china don't have our best a.i. technology the for national security reasons, but nvidia's issue seems like, well, other countries could be named in these export if controls, and that just makes the u.s. lose market share and the world adopt alternate technologies.

stuart: i wonder does it preempt trump. lauren: nvidia's ceo says they haven't met yet, but he wants to. stuart: macy's is closing stores throughout the united states. how many? lauren: we have the list of 66. it will rise to 150 by the end of next year. the liquidation sales for those 66 that have been announced start this month. this is part of macy's turn-around a plan. they're closing the underperforming stores and investing in 350 of their promising locations. so. stuart: okay, got it. we have some earnings reports before the opening bell this morning. i see one of them's in the green. walgreens up 20%. they're. lauren: yeah. their turn-around is working. they are closing stores. they are focusing on their pharmacy, and as a result, profits came in stronger this past quarter. nice gain today. this is a stock, loser last yea- stuart: i'll have to have a look at that report and see what they're doing about shrink range. lauren: closing the stores. stuart: that's right. you said that. next case is delta.

are they up, down or sideways? they're up 7%. lauren: look at that. and you don't like airlines. [laughter] stuart: as an investor. i fly on these things -- lauren: they don't see travel demand slowing down at all this year and fliers are opting for premium seats and products. not only with the fourth quarter strong, it saw four of the top ten revenue days in their history. stuart: okay. constellation brands. they own corona, i think? lauren: modelo. stock is off 6. two big reasons. price is too high and drinkers are dialing back to calorie, lighter alcohol. and then you get that surgeon general warning on alcohol and maybe we change how we drink. stuart: maybe. okay. let's do constellation energy this time. they just bought cal pine energy. is this a nuclear energy company buying a clean energy company is? lauren: yes. constellation is nuclear, but

cal pine is a private company headquartered many houston. they generate electricity from natural gas but also geothermal which is chien. so we are now talking with these two companies together creating the nays' largest -- nation's largest clean energy provider. t it's a $26 billion plus, broad array of energy to meet future day a centers for artificial intelligence. -- data centers. stuart: and i guarantee they're approved. a. lauren: it should the be. gee. >> thermal uses existing oil wells and the same technology as fracking. stuart: but you to do take my point. what can you tell me about -- oh, i'm interested. tesla's updated model y. lauren: so you've got to go to china to get it, so you're not interested at all. the problem for elon musk is his company is losing market share in china to local rivals. this is what it's going to the look like, it starts at $36,000. of the front kind of looks like

the cyber truck with that -- stuart: [inaudible] lauren: a touch screen for the second row and larger driving range -- longer driving range. stuart: oh, here's another interesting one. capri is vellinger is saatchi. lauren: you don't -- versace. lauren: prada could buy versace from capri cord an italian newspaper. just think about it, redefining luxury. luxury brands are struggling because everybody wants to be exclusive. [laughter] >> exclusive? all you have to do is walk out the street on sixth avenue and they've got a bunch of guys selling it for $20. lauren: oh, my gosh. [laughter] stuart: so true. are we done with capri and versace? lauren: i think so. stuart: bitcoin rally -- the. lauren: yesterday we were closer to $900,000, it was coming down -- 90,000. ten days until a very

proto-crypto president takes office. maybe this was a little bit of buy the rumor, sell the news. stuart: that's right. lauren: i do want to point out bitcoin is seen as an inflation hedge, and we are worried about yields spiking. that could be why it's reversed and is now up to 94k today to. stuart: that was a fine selection of stocks -- lauren: you sure about that? what was your favorite? it was capri. stuart: my goodness me. next -- [laughter] comedian adam corolla predicts mismanagement of california's fires will turn the state against the democrats. watch this. >> they're going to vote for trump. or whoever's trumpian next. when they start getting the regulation, they're going to go nuts. and when they start running into the bureaucracy and red tape -- stuart: i think the guy's right, i really do. the question is, could california become a red state the? there's a stretch perhaps, but we will ask steve hilton later in the show. kevin o'leary say there's only one thing the to blame in

california's catastrophe, terrible leadership. he says newsom should not be allowed to to shrug off responsibility. mr. wonderful, next. ♪ ♪

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♪ ♪ stuart: the future of tiktok is now in the hands of the supreme court. oral arguments set to begin today at 10:00 eastern. lauren, is there a constitutional question here, to sell or ban -- lauren: the first amendment. free speech against the government's claims that these chinese-owned app is a threat to national security. so today the supreme court will hear arguments on whether to overturn or delay the law that would ban tiktok in just a few days, january the 19th, if it

doesn't sell. the justices are expected to rule very quickly on this on the future of the app that, what, 170 million americans use. if it is the banned, that would make it illegal for apple and google to host the app, to update it. the president-elect, donald trump, says, look, give me time, let me pursue a political resolution. stuart: got it. thank you, lauren. kevin o'leary joins me now. kevin, welcome back to the show. always good to see you. you just joined project liberty's bid to buy tiktok. let's suppose you're successful. what would you do with it if you yet it? >> first of all, strip out the chinese spyware by the order of congress. but there's so much potential for this platform in terms of how user i data is treated. it's stalled out at a 170 million users, we'd like to get it past 200 million, and that means we've got to get everybody back that doesn't trust it, that wouldn't put it on their phone. and the way to do that is

democratize it. allow people to invest -- we've talked about it for almost a year, and we've set that site up, come into the deal at the same price i'm getting. number two, make the data owned by the user so that you, if you don't want to share it, you don't have to. but if you do, become our partner and get paid for that. so all of a sudden all these users find a very sticky platform that's democratic, that's secure, and they get paid for example, i'm not interested in car ads. i want to learn about watches. so everything about watches, i want to learn. i want to be advertise thed to, and i want to get paid. you get to do that. the third thing i think everybody's going to find attractive including trump is we're going to open it so that it's interoperative. if you're posting on truth social or on x, click here to populate tiktok. everybody would want to do that. and we would ask others like instagram and meta, let's do the same thing. let's share two ways. after we've got all that done, on a plane to to see modi in

india, light up those 210 million if users there, switzerland, france, canada, germany, they're going to want the same thing. this thing will become the world's largest television network in a matter of two years. watch it happen. frank and i have been working on this thing for two years. stuart: i hope you get it, mr. wonderful: governor newsom blames fires on climate change. you blame him. i've been saying that california is in desperate need of a change in politics. what say you? >> you know, i whimsically said last year, probably with you, that california is a dumpster fire. and, sadly, it is a dumpster fire. it's tragic, what happened here. gross mismanagement. we started talking about this with san francisco, which is a war zone, and now l.a. before this was riddled with crime, people walking in and out of stores just stealing stuff. you've documented that forever. it is time for change. gavin newsom is a terrible

manager. he is the justin trudeau of california. he's horrific. and, to obviously, people should want to make a change and hire somebody else, but i think it goes the other way. i think they're so tired of the rhetoric and the policy and the taxes and the mismanagement, you know, just watching that woman talk about -- it's all over the internet now -- where is the water pressure in my fire hydrant to gavin newsom, and he goes, a ah, it's a local thing. you can't say that when you're a politician. you have to own the problem. he count even understand that. time for him to get removed from office immediately. stuart: that lady, by the way, is on this show a little later today. kevin, thanks for joining us this morning. all good stuff, and we will see you again real soon. california has drifted left in recent decades, and it got worse in the trump years as the democrat leadership piled on the hatred. and look what they got. highest taxes, highest poverty rate, rampant crime and now with the fires, the end of los

angeles as we know it. that's my take, top of the hour. celebrity chef andrew gruel owns a restaurant on the pacific coast highway. he's offering free meals and a camping space the people fleeing the flames. he's next. ♪ ♪ (husband) we just want to have enough money for retirement. (wife) and travel to visit our grandchildren. (fisher investments) i understand. that's why at fisher investments we start by getting to know each other. so i can learn about your family, lifestyle, goals and needs, allowing us to tailor your portfolio. (wife) what about commission- based products? (fisher investments) we don't sell those. we're a fiduciary, obligated to act in your best interest. (husband) so how do your management fees work? (fisher investments) we have a transparent fee, structured so we do better when you do better. at fisher investments, we're clearly different.

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stuart: no dedetails on trump's sentencing yet. the court hearing is in progress. the market is selling off thanks to that strong jobs report. and let's go back to the california fires. joining us now, california celebrity chef andrew gruel. andrew, your restaurant's on the pacific coast highway. i believe it's near the fires. you're offering evacuees free meals and the option the camp out in your parking lot. tell me more, andrew. >> well, i should clarify on that. people aren't literally camping out. that was the offer on the first night if people needed a place to stay. we've had about 40 or 50 groups come down, and then they figured out where they were going. we're in orange county, so we're about 30 miles south of the fires specifically. but that tweet has evolved now because a lot of people start

started writing in, how can we help. we started cooking meals and taking e donations, primarily shoes, baby formula, diapers, clothes, other types of food and nonperishables as well as hot food up into los angeles. we took about 2-3 trips within the first 12 the hours, and then we started getting palettes of -- pallets of donations. the entire parking lot yesterday was, like, six palates full. we've had 100-150 volunteers. pallets. we ran out of trucks to deliver up to the dream center in los angeles, original ally the convention tenter. we had customers take their own cars and trucks driving the products into los angeles. and the city of huntington beach offered their public works trucks. we've received well over $50-90,000 in donations that we've been able to coordinate, unpack, repack, bring up to los angeles as well as given away thousands of dollars 'of free meals. people are moving on, nobody's

really camping out at this stage. stuart: well done, andrew. that's a fine effort, i must say. met me change to politics -- let me change to politics. do you think this is a turning point in california politics? >> this is the it. this is the the final referendum, you know, kind of reckoning of newsom. he's got nobody else to blame, and he knows that's the thing. it's whack-a-mole, i'm blaming guy, that guy. this one's on him and the los angeles leadership because now there's convenients, right? for every single decision the they've made leading up to what we're experiencing. this is it for newsom. he needs to say, look, i screwed up, i'm out. i'm hearing from everybody on the ground right now, we've got thousands of people coming in and out of our restaurant, and everybody left, right and center is pointing the finger at newsom if and the really negligence leadership and management within the local communities up in los angeles. stuart: so the mood of the public is anti-newsom, is it anti-democrat9? -- chem democrat?

>> the mood of the public is anti-newsom. i don't know whether anybody to's going to fully go against their religion. [laughter] i will say this, the mood of the public is helpful. and i've got to tell you with, stuart, people have been so good about helping each other out throughout this entire thing and not actually starting the internal fights about this because everybody agrees it's newsom. now let's help the people out and get this ya baroni out of here. [laughter] stuart: nice use of language right there. andrew gruel, thank you for joining us. a fine effort on your part for helping those people. thank you, andrew. jason with me still. i don't see how los angeles rebuilds under the current political leadership. >> if you want different results, you're going to have to elect different people. the key thesis for democrats is we need more government, big government. but i think what the country is now saying, and you saw that when donald trump was elected, they want competency. so if you look at los angeles, where they prioritized in california, it was about dei, it

was about making sure that we coddle people who are coming here illegally. we're doing these types of things at the cost of law enforcement and at the cost of fire enforcement and being able to have -- and water. they were more concerned about that smelt fish -- stuart: yes. >> -- being able to get out in the ocean than they were about protecting the people of los angeles. stuart: it's extraordinary, really. a tiny fish. >> that that's not just gavin newsom, that is the whole of the democratic party. california, it's up to you. you elected these bozos. if to you want a different direction, try electing a republican and see how the mess actually does get cleaned up. stuart: lauren's dying to get into this. lauren: i have a question. governor newsom's going to have to raise his hand and ask for money from the federal government. stuart: yes, he is. lauren: in ten days. stuart: yes. lauren: does president trump give it to him? stuart: he'll negotiate something. lauren: what does he negotiate? stuart: resign -- lauren: there is not one republican on the entire city

council of los angeles, and they just is went through this mess. stuart: hey, newsom, you resign, and we'll give you some money. lauren: there's a deal to be made. [laughter] stuart: thank you very much for joining us for the hour. good stuff. check the markets, please. coming up to the 10:00 hour. we're down merely 400 on the dow, 317 on the nasdaq. it was a very strong jobs report, and investors don't like the rise in the 10-year treasury yield. as the fires burn, california lawmakers just started a special session to trump-proof the state, can you believe it? ben domenech on that. oklahoma's governor at mar-a-lago. he's on the show mow men fairly. will california's leadership turn the state red? steve hilton on that. celebrity fitness trainer gillian mikes evacuated her mother from the -- jillian michaels evacuated her mother from the flames. she's here with more on her harrowing experience. the 10:00 hour is next.

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