up 160 on top of a huge rally yesterday. let's get final thoughts from our panel in new york city. well, it's getting cold here. it is a approaching 3 p.m. in the afternoon, guys, i had to put my hat on, but i don't think it's as cold as it is in new york right now, cheryl. cheryl: maria, it is ands -0. thank you for wearing the hat. there are two hats -- [laughter] i voted for another hat. we'll see what tomorrow brings for our viewers. real quick on dei, i never want to the hear the term environmental justice ever again in my lifetime. maria: i don't either. i'm with you. adam. >> yeah, i'm in. markets are up because our commander in chief is also a ceo in chief. america's open for business. maria: that's right. great point. adam johnson, cheryl a casone, great to be with you. another big program tomorrow here in davos. don't miss it. "varney & company" picks it up now. suh, take it away. stuart: wear the hat again

tomorrow, maria. maria: tomorrow? okay. i will do it. stuart: good morning, everyone. less than 48 hours into his presidency, donald trump has opened the floodgates. it was capped off last night when the president announced a $500 billion investment into a.i. he introduced three big tech leaders who will build stargate, a new company that trump says will keep america in the lead in a.i. before that over 200 executive orders that revolutionized immigration, the border and energy. he is reversing biden's policies. the democrats and their lawyers will try to slow him down, but he's got momentum. tuesday afternoon he visited house and senate republicans. he it would them what he wants them to do. above all, unify to get it all done. finish here's more on the trump effect. the market. stocks going up again. dow up about 160, 34 up on the s&p, the nasdaq, 2232 points right now d222 points. oracle, a massive gain after ceo

larry ellison appeared with trump at the stargate announcement. little change in interest rate, the 10-year at 4.56. the 2-year just above 4.25, 4.27%. bitcoin coming in, $105,000. no, sorry, down to 103. got that. a look at gold, that is an 11-week high, $2768. oil, $76 a barrel, sorry, almost 76 a barrel. gas, regular no change, $3.12, one cent higher for diesel, $3.66. on the show today, one more order. all dei offices in federal agencies must close by 5 p.m. tonight. what a contrast from biden who wouldn't answer a question if he could help it to trump who tuesday answered any and all questions while signing executive orders. it was like the old days. the immediate to ya a trying to ask -- media trying to ask nasty questions, trump laughed at them. of it is wednesday, january 22nd, 2025.

"varney & company" is about to begin. ♪ ♪ take a chance on me. ♪ take take a chance on me ♪ stuart: take a chance on me, is that the name of this song? take a chance on me? if abba -- okay, moving on. >> how did you figure that out, stu? if. stuart: well, it was on the screen. >> and also they said the words in the screen -- stuart: paying attention. lauren: what are we taking a chance on? stuart: let's start this morning with -- lauren: trump. stuart: let's start with president trump announcing a $500 billion investment into a.i. infrastructure. edward lawrence at the white house. morning, edward. what more can you tell me about a half trillion dollar investment? >> reporter: good morning. taking a chance on artificial intelligence, i think that's what he's doing. he brought together the biggest ceos in artificial intelligence the make this massive

announcement. stargate, the a name of the project, will be the largest data center in the united states, and it will be based in texas. the president brought in the ceo of soft bank, ceo of openai and oracle to make this announcement yesterday. it's $100 billion initially, right now, with a commitment to scale up to $500 billion over the next four years. >> it'll insure the future of technology. what we want to do is we want to keep it in this country. china's a competitor and others are competitors. we want it to be in this country, and we're making it available. i'm going to help a lot through emergency declarations because we have an emergency. we have to get this stuff built. >> reporter: the investment scales up as it comes in the coming years, the data centers will expand to other states. it's leading an a.i. revolution democrat u.s. >> i believe that as this technology progresses, we will see diseases get cured at an

unprecedented rate. we will be amazed at how quickly we're curing this cancer and that one and heart disease. >> reporter: trump has promised expedited permits to get this built quickly. now, as of today the the trump administration has secured $720 billion in private investment since election day here in the u.s. stu, back to you. stuart: that is a lot of money, edward. thank you very much. mark tepper with me to watch the market. do these measures keep american leadership going many in a.i.? >> absolutely. and i think the first thing it does is it's very symbolic of what you see happening in the first few days of this trump presidency. priorities are straight. we are actually looking to focus on policy items that are going to grow the economy versus what we saw over the last several years with biden where the first things he wanted to do was climate change initiatives and things along those lines that actually slowed economic growth. but i this $500 billion, i think it's important to understand that there's a multiplier effect

here. i mean, you're talking about people who are going to build the data centers. you're talking about an increased demand for if energy to power the data centers which fits into trump's drill, baby, drill initiative, right? i mean, natural gas is possibly the most immediate way you can get emergency to these data centers. watch kinder morgan after the the bell today. they have their earning, a natural gas pipeline company. it'll be interesting the hear hair commentary. stuart: i want to see the nuclear stocks because trump said you've got to have nuclear to get these giant data centers going. i'd imagine heir up today. there's pneumonia nuclear energy, they're all up except man toe know nuclear -- nano nuclear energy inc. >> certainly quite a bit of optimism. i think the market had a little bit of indigestion leading into the inauguration over what kind of impact trump's tariffs were going to have. and it kind of backed off a little bit. he's approaching the whole tariff thing with, i guess, a

little more pragmatically, with a little more reason. so the market obviously likes that. and the market's excited about these pro-growth, pro-business policies. you hook at this a.i. initiative, you look at the drill, baby, drill stuff that's going on. you have a president in place right now who wants to focus on pro-growth, pro-business things so that we can all elevate our wealth. stuart: got it. >> countrywide. stuart: say stay in, mark. now this, president trump's executive orders are already facing legal challenges. some democrats argue that his actions are beyond his authority. todd piro with me. he's are -- a recovering lawyer, by the way. will they succeed. >> possibly in certain areas, but not all lawsuits are created equal. when it comes to birthright citizenship which is being attacked by democrat a.g.s, there is some concern if you're donald trump because if the law and the constitution the are pretty tough to overcome in this regard. also i will add filed in federal

court in massachusetts, and any appeals will be brought in front of democrat judges or i should say judges that were appointed all by democrats. so it's going to be tough on that one. i ultimately think that's decided by the supreme court, or congress is going to have to step in and figure out birthright. when it comes to the doge lawsuit, that's not one that i'm real worried about if i'm trump because even if they were to lose that lawsuit, just change how you -- the moniker of department of government efficiency. it's not an official department, and that's what these lawsuits are hinging on. they're saying you need the follow all these rule toes. it's kind of just a group of people that want to give suggestions on how to trim the government. stuart: next one. trump's department of justice has reportedly reassigned maybe 20 the senior official, taken hem out of their i key positions. heavy not been fired, they've been reassigned which is like a demotion if. >> right. stuart: is this his first attack on the bureaucracy? >> yeah. i mean, look, the goal is to put these people in positions where heir not going the like these

jobs, so they'll go take a real big money job at some law firm and get themselves out of the federal government. and that seems to be the way that trump's going to have to operate. but it is incumbent upon him the get rid of those forces in the doj 245r hyperpartisan and took so many steps not only against trump, but against conservatives on the whole. pam bondi is expected to go in there and create a situation where you do have top lawyers, you're to not losing too much of a brain drain because you're going to replace them with lawyers who aren't as ideologically motivated. those lawyers will be motivated by the law. stuart: todd, thank you very much, indeed. tonight hannity will present if president trump's first sit-down interview at 9 p.m. eastern on pox if news. -- fox news. senate republicans just added two new members to their ranks. morning, lauren. that pushes the majority to, i think, 53. lauren: they hold 53 seat toss democrats' 47. that is an outright majority

after john hughes dead was sworn in to replace the vice president, j.d. vance, and ashley moody replaced marco rubio, officially confirmed in the state of florida. stuart: we finally have a hearing date for kash patel. when is is it? lauren: one week from today, the senate judiciary committee will review kash patel's petition to lead the fbi. on january 29th, look, federal prosecutor, house staffer, trump roilist -- loyalist, but he wants to upend the institution he wants to lead which has head him controversial. now that you have trump's national security team coming together, the senate will turn their attention to the justice department, and that same committee is scheduled the vote on pam bondi as attorney general also on wednesday. stuart: kash is a tough guy. thank, lauren. the trump administration if has ordered dei offices to close by 5 p.m. tonight. all dei federal workers will be

placed on paid administerrive leave by the end of this day. president trump says he wouldn't oppose if a tech billionaire buying tiktok. >> reporter: are you open to elon buying tiktok? >> i would be if he wanted to buy it, yes. stuart: we'll also a tell you what trump said about having tiktok on his personal phone. mexican cartels now classified as foreign to have the to toist organizations. we'll bring you the late from el paso, texas. plus, congressman carlos gimenez will tell us what he thinks about trump's order on birthright citizenship right after this. ♪ ♪

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stuart: 15 minutes to the

opening bell. plenty of green. dow's up 130, nasdaq up 200 points. president trump i moved to classify drug cartels as foreign terrorist organizations. there's a big step. brooke taylor on the border in el paso. what does this mean for our fight against the cartels? >> reporter: well, the the move is going to basically allow authorities more tools to fight the cartels and traffickers more aggressively. and here in el paso i can tell you that their control of the cartels here is clear. they really determine who and what comes across this border. earlier this month border patrol agents discovered this massive smuggling tunnel connected from mexico to el paso. tunnel described as one of the most sophisticated tunnels that officials have seen. st the 6 feet tall, 4 feet wide, hidden within a storm drain system. shocking video from inside the tunnel shows just how elaborate service. it has lighting, a ventilation system even. border patrol agents believe that cartels have used the

tunnel to smuggle in drugs and humans and who knows how many. both have become billion dollar businesses for these cartels. we spoke to a former border patrol agent. he retired in 2023 after more than 20 years on the job. he pointed out that oils -- policies under the biden administration have allowed smugglers and traffickers the get away with too much. >> i can't tell you how many times as an agent we would catch somebody with a kid who didn't even know -- and he wasn't calling 'em daddy or mom if tomy. it was a smuggler -- mommy. it was a smuggler. but, you know, we had to take their word for it. >> reporter: and while this executive order gives authorities the tools to fight back, it's still not clear exactly how that's going to to look like. but in this executive order, it calls the cartels a national security threat and says that they have flooded the united states with drugs, violence and

gangs, stuart. stuart: thank you, brooke. now this. 222 states and 2 cities -- 22 states and 2 states have sued trump the block his order to end birthright citizenship. congressman carlos gimenez joins me now. can do you support this, ending birth birthright citizenship? >> no, i don't. we're going about it the wrong way. the way to the control the problem is the control the border. and if you do that, then you don't have the this fight which i think is not going to end up well. look, this is a well established principle, 1898 is the united states v. wong kim ark, a chinese person born here in the united states, traveled back to china. he was born to chinese illegal immigrants, and they said anybody born under the jurisdiction of the united states on u.s. soil is a citizen of the united states according to the 14th amendment. and i think the that's the way it's going to end up. let's just control the border, and we can soft the issue. can i talk about -- solve the

issue. can i talk about the terrorist aspect of the cartels? i've been asking for that for some year, and i think not only, you know, should we label them as terrorists, we need to go after hem and destroy them. they've been killing tens of thousands of americans every single year. and so, yeah, i'm really glad that they're a terrorist, been designated as a terrorist by the trump administration. let's go after them and wipe them off the face of the earth. stuart: what do you mean by let's go after them? attack them inside mexico? is that what you're saying? >> oh, yeah. i would give mexico two weeks another the job, and if they can't, then we've got to. we've got to protect american citizens. stuart, they've been killing hundreds of thousands of americans, and they do it knowingly. yeah, we need to wipe them off the face of the earth. stuart: i wonder if america is ready for that kind of, i'm going the call it e radical change. >> well, listen, we went the war for 15 years whennal a al qaeda killed 3,000 --al a al qaeda killed 3,000 americans. these mexican cartels are

killing hundreds times more than that, and they're right across the border. and so, yeah, we need to to go get them and wipe them off the face of the earth. every single family, everybody knows of somebody that has been killed by these cartels. and, by the way, they're aided by communist china who actually creates the chemicals that this creates the drugs that kills americans. stuart: congressman, you're on the subcommittee for cybersecurity and infrastructure protection. what do you make of trump's a.i. investment announce announcement, a half trillion dollars? >> i'm to totally supportive of it. look, we're in a race against communist china to see who develops a.i., who develops the best a.i. i think it's high time that we pour money into it. it's the way that -- the wave of the future but also, look, it's the way that battles are going to be fought in the future. we don't want to fall behind china on that strategic front. so we need to lead china, and so i'm really happy about that investment and let's win this race. stuart: is there a simple,

easy-to-understand way to regulate a.i.? keep it safe? >> i'm not sure. look, it's -- that genie's out of the bottle. we're in a race. we have to win it. and the regulation part will come later, but right now we have to win that battle. and if we start overregulating right now, then i'm afraid that china is actually going to win that race and then that's going to be much more dangerous to the security of the united states and our citizens. stuart: yes, sir. let's get real. congressman him neshesz always a pleasure. thank you very much. >> my pleasure. stuart: trump took questions after the a.i. announcement, and he was asked about elon musk buying tiktok. what did he say? lauren: he said he'd be okay with it if it's elon musk or oracle's larry ellison. oracle was part of that a.i. announcement yesterday. watch here. >> reporter: are you open to elon buying tiktok? >> i would be if he wanted to buy it, yes. lauren: trump said tuck texas is worth $1 is trillion -- tiktok

is worth $1 trillion with a permit to operate here, and he'd be happy to give that permit to musk or ellison if they transfer ownership of tiktok to the united states. it's not clear if that deal would also include the algorithm. that's the moneymaker, and it's currently maintained by engineers in china. then a reporter asked -- i don't know if it was a gotcha or a simple question. mr. president, is tiktok on your phone right now in and this is how the president answered. >> reporter: do you have tiktok on your phone? >> new york but i think i -- no, but i think i might put it there. by the way, again, we won the young vote. i think i won it through tiktok. so i have a warm spot in my heart for tiktok, okay? lauren: he credited tiktok that he doesn't have on his phone for winning the presidency. first social media president right there. stuart: mark -- [laughter] should musk buy tiktok? >> i would say no. the guy's got a lot on his plate. we're putting a lot on the

shoulders of mr. elon musk right now. he already made, what, a $44 billion charitable donation to the preservation of free speech with the purchase of twitter -- [laughter] is i don't think it's a good idea. the thing that bothers me the most about the tiktok talks right now is there's been talk about the u.s. engaging in a joint venture with either elon musk or oracle or whoever it may be. i don't want like that. even though the government right now is run by republicans in all three areas, i don't like the government being involved in private business at all. for one, there's unlimited bankroll, how can you compete against them, i just --en i don't like that. that's the thing i have an issue with. stuart: he's certainly got a lot on his plate right now. lauren: meta shares are up and so are snap. stuart: oh, yeah. watch 'em go. let's check futures, please. plenty of green on your screen. dow up 140, 200 points on the nasdaq. the opening bell is next. ♪ good to be alive right about

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tiewrtd stuart futures pointing towards a rally. dow up into -- 130, nasdaq up 200. shah ghailani with me this morning. you see the s&p 500 going up 18%

this year. go ahead, make your case. love to see it. >> i just want to remind your viewers, that's on top of 23 the plus percent in 2024, stuart. the president, i think, we have a little bit of history to look at here. his first term, starting in 2017, the markets moved up very smoothly. the vix, the so-called fear index traded around 11, 12 for the first two years of his presidency on average meaning markets were very calm and continued to client higher. i think we're going to see the same thing this time around. the president has come out of the box firing with both bazookas, if you will, and i think clearing a path for a.i., for the tech companies which have been the leadership group for years and continue to be means the market's going to continue to go higher. strong leadership, tech is what america is great and known for, and so i don't know that there are too many impediments in the way to other other than rising the potential for interest rates

to continue a maybe on a path higher towards 5% on the 10-year. well, we've seen a bit of a rally in the bond market, so hopefully that's sustainable. otherwise we're headed for a push higher 2025. again, 18, possibly 20%. stuart: our audience is going to like that and so do i. that's a fact. so the rally that we're seeing today, that's a continuation of the trump bump that came after the election and before the election, right? >> yeah, stuart. before the election anticipation was that if donald trump gets in, we're going to see what we saw starting in 2017. we're going to have a very positive atmosphere for the markets, a clearing in terms of deregulation for financials, for lots of different industries to move higher without the impediments that have encumberedded them. and that's what the hope was. and when the president got elected, a lot of those names went even higher. so that's telling that the future is out there. we know what to expect, and i think investors are very optimistic about what the

president's doing. yesterday was an absolutely perfect example. besides his first day in office, he's got a couple of hundred executive orders. i mean, he is coming out of the gate and just moving at lightning speed. so this is terrific for the economy. it's going to be the great for the market. stuart: why do you like coinbase so much? >> well, he's going to to be the crypto president, and we already know that. [laughter] a lot of the digital assets, that whole space has risen on account of his add sew cat city, and we see concern advocacy, and for me, this is the go-to place if you're going to do any kind of exchanging. a lot of the platforms whether it's the robinhood or schwab, most of them can handle cryptos, but the major exchange for all the cryptos is coinbase. and i think if we're going to key continue -- see continued interest in digital assets, it's going to go a lot higher. stuart: we'll follow it. the dow has now opened, and we've opened with a strong gain. the dow industrials are up 147

points, one-third of 1%. a lot of buying on wall street at the moment. plenty of green and a little bit of red as well. the big board, the dow 30 stocks, there you can see them. the s&p 500, let's have a look at that. it has opened higher to the tune of a half percentage point. the nasdaq composite, that is up .80%. it's a rally all around. i've got to take a look at big tech. i'm expecting big gains. we got 'em. microsoft is up the 2% at 437. meta's up, amazon's up and apple down again. let's start with individual stocks. oracle. look at it go. that's a 10% gain. i think that's a nice bump from trump's a.i. announcement. good morning, taylor. >> good morning. stuart: tell me more. >> so an initial $100 billion in the future hoping for a total of about $500 billion. it's called stargate. it's all to build out a.i. infrastructure. it's oracle, softbank and openan i. trump the saying it should --

openai. interestingly enough, microsoft saying, of course, because of this they've relaxed their exclusivity deal with openai and changed the terms to more of the first right of refusal. they were, i think, finally understood they were not able to provide all the power that openai needed. so huge partnership but a lot of expectations come with that. tour start what about the other a.i -- stuart: what about the other a.i. stocks? i saw microsoft up about $9. it's up again, 9.84. they're all up. >> this is, because people are so excited you have a president many office who wants to take on the race with china. china could eat our lunch with a.i. if if we don't hurry and move quickly. this is an indication we are moving and we're very clear that we want a.i., and we want it to bin -- the to win. stuart: they're starting to build the the largest data center in the world. it's in texas. it's going to create 100,000 jobs. i take it it's going the need a lot of servers, right? >> yes. servers and power.

if you take a server like a dell and a super micro, you're up. and yesterday we talked about nuclear energy, right? you need all of this. so, again, you have a president who's excited and understands the way business and, more importantly to mark tepper's earlier point, private capital. get the government out of the way. we want private investment. tease are people who know how tw how to run businesses. stuart: got it. let's go on to to netflix. they reported after the bell yesterday. they're up 11% this morning. i take it they did well. >> yes. maybe more than double what i told you yesterday. 24 hours ago i sat here and told you analysts were looking for them to add about 9 million subscribers? well, they added almost 19 million subscribers. [laughter] more than double what i told you. revenue topped $10 billion. and, unfortunately, i'm officially priced out of this because they are raising their prices once again. the most popular plan for $18 goes up by $2.50, the basic plan goes up by a dollar.

that's why i canceled about a year ago. they keep increasing prices, and hay know that you'll take it because you like the live sports and quit games. stuart: you canceled netflix because they put the price up? >> they have increased prices significantly. stuart: that's sacrilege. >> i know, i'm sorry. you can still like the stock. stuart: i do. don't have it though. meta considering a partnership with oakley. this has got to be about those virtual reality glasses, gotta go -- gotta be. >> yes. are you going to wear them? [laughter] this is all about a.r. and v.r., virtual reality a, alternative reality. it's dubbed artemis. interestingly enough, meta also looking at wearables like ear buds, watches really to take on apple if you think about it and embed further their ea. products into everything we do. stuart tutor maybe that's why apple is down again.

i know they got a couple of downgrades. happening a lot, isn't it? >> it is. jeffreys is one of five analysts with the i wisconsin elect of a sell rating -- with the e equivalent of a sell rating. loop comes out with a hold, sort of that neutral rating. all of this basically comes town to concerns about a iphone sales and a weak chinese consumer and is the lower end model enough if you only have one cam around or if there isn't apple intelligence in there. a lot of people are worried about it. stuart: are you buying apple at 222? >> no, no. we're underweight. we own apple. you have to, it's a 7% weighting in the s&p 500, so there's too much tracking error if you don't. but i think we're at 4-5%. we are underweight. they've been losing market share in the smartphone category over the course of the last few years, they kind of peaked out and then last quarter they lost market share.

they haven't innovated in decades. you've got to own it because it's kind of like a consumer staple, right? you need to brush your teeth every morning, procter & gamble, well, here you go. the multiple's just too rich. stuart: i've never owned that stock. >> and you're kicking yourself for it, huh? >> stuart: yeah. if i'd bought it many, many, many years ago. excuse me. we had some earnings reports before the bell. taylor, start with j&j. >> yeah, let's do it. earnings beat but a little bit of weak guidance going forward which is why we'll take a look at the stock and see how it does. we're not getting quite the big outlook going forward that analysts wanted. remember, this is not the consumer brand anymore. this is medical technology and drugs. they spun off that consumer brand months ago if not a year ago. sales in the u.s. rose 10%. interesting without the covid vax, they were up more than 7%, but with the covid vax, up about

5.7%. stuart: the proctor and gamble. >> similar story. i think i single-handedly am keeping the pampers brand alive. it is baby, feminine, family care that continues the shine. procter & gamble is that staple that mark talked about you really have to be in. stuart: travelers insurance. >> so interesting because we're in the middle of those l.a. wildfireses, right? if so far they came out and were up over 5% and they beat profit estimates. they said the underwriting business is so strong and is cushioning the blow from some of these big, catastrophic events. individuals and and businesses are increasing the people if yum. like, they seed insurance. but we did -- need insurance. we did just get comments from the call that the l.a. wildfires will have a material impact on the next quarter's earning, so we're going to see the impact in about three months when they report again. stuart: it's up 5%, and it's adding 90 points to the destroy

industrials. mac tepper, you brought some -- mark tennering, you brought some stock picks. >> i brought a couple. we don't own this one yet, this is a watch list name. genuine parts company, they're a distributer of automotive parts. automotive is about 60% of their revenue base, can and here's what we know about autos. they are old. the average vehicle owned by an american today is over 12 years old. it needs to be repaired. stuart: what? >> we expect that to happen as consumers are -- stuart: i've never been like that all the time i've lived in america, i think. >> yeah or it's old. stuart: thank you, mark. thank you, taylor. we'll be watching you on "the big money show." starting monday, january the 27th, "the big money show" will expand the two hours if from 12- 2. well done, taylor. >> thank you. stuart: coming up, the chair of oracle, larry ellison, says a.i. could change the future of health care. >> once we gene sequence that to

a cancer tumor, you can then vaccinate the person, design a vaccine for every individual person. you can make that robotically, again, using a a.i. in about 48 hours. stuart: ellison says personalized medicine is on the horizon. we'll explain how that would work. president trump just pulled the plug on biden's ev mandate. it would have insured half of all new car sales be electric by the end of this decade. next up, he could scrap an ev tax credit too. the greenies don't like that. jeff flock has their reactions next. ♪ -- electric avenue. ♪ and then we'll take it higher. ♪ oh, we're gonna rock down to electric avenue -- ♪ and and then we'll take it higher ♪

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now he's targeting two more of the previous administration's ev policies. jeff flock with us this morning. what's on trump's agenda for evs next? >> reporter: ah, you know, he's not a big fan. i can't understand it. he's got some advisers chose to him that even make ev -- close to him. but whatever. here's what the executive order said, signed on day one as part of the unleashing energy executive order. it eliminates, as you point if out, the ev mandate. some said there wasn't an ev mandate, but, you know, nobody held a gun to anybody's head, but effectively it was a mandate. he's also going to consider the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor ev iss like the ev tax credit. you mentioned earlier the greennies kent like the ev tax -- don't like the ev tax credit or want him to do anything about it. what about the auto dealers like

david keliher in the philadelphia suburbs? >> well, as we eliminate the mandate -- it is a mandate, because there's gigantic fines. so it's a mandate, in essence. but we need that tax credit going forward for at least an easing time because we have these cars on our lot s and we need to sell them. and that, believe me, that credit is necessary to sell these cars. >> reporter: stuart, i want to to give you some numbers. look at the numbers on q3 -- oq4. 365,000 evs sold, up 15%, that's the biggest quarter ever. how to do you account for that? >> well, because of the mandate. because they forced these things into the marketplace. cad lick's losing money on their lyric, we're losing money. so everybody's losing deal on this -- money on this deal, and the taxpayers are losing money because of the credit.

everybody's losing money, and that's not the way this market system works. stuart: stuart varney does not like it when everybody is losing money. stuart: you are quite right. quite right, jeff with. back the to you later. thanks, jeff flock. former energy secretary dan brouillette joins me now. is trump right to end the ev mandate and leave the paris climate accords? i mean, ending the ev mandate, doesn't that wreck the multibillion dollar investment we've made in evs? >> no, it doesn't, stuart. good morning. good to be with you. no, it doesn't. as the dealer just said, the fundamental problem is that evs are perhaps too expensive for everyday consumers to buy, and perhaps that's why they're not buying them. it might be the premise behind system of these credits in the first place. but i think what the president is really getting at here is that he's not for the industrial policy as defined by things like the paris accords. he wants consumer choice. he wants consumers to make those decisions. when you walk into an awe dedealer and you want an ev, by

all means, buy one. but if you refuse to buy -- if you want to buy an internal combustion truck, for instance, you should be able to buy one too. i think the motive behind his entire energy policy, which was announced yesterday, and it's created great excitement not only in the energy industry, but other industries as well. stuart: trump signed executive orders aiming to to drill in system parts of alaska. i get the feeling that might just strangle the green agenda, if they start drilling in alaska. what do you say? >> well, i don't know if it'll strangle their agenda, but it will create and restore energy dominance if here in the united states and energy independence here in the united states and give the president so many more options with regard to foreign policy. you may have heard him say in the past we're very concerned about what we see in places like iran where they use oil money to perhaps fund their nuclear weapons program or fund adversaries who are hostile tour

allies like -- to our allies like israel. as you take that oil off the market, you have to replace it with something, and what better than u.s. oil? stuart: got it. dan brouillette, thanks for joining us. >> thank you, stuart. stuart: the governor of california, gavin newsom, he's going after trump for his executive actions on climate. what is he saying, lauren? lauren: the governor's statement reads this: if you don't believe in science, believe your own damn eyes, and it's followed by photos of the los angeles wildfires blazing. trump is going to tour the devastation there on friday, this week. the two are in a collision course when it comes to policies in general, especially environmental. trump has blasted newsom's response to the fires. he even issued executive actions yesterday to redirect water from the northern part of the state to the south. stuart: this is not about climate change, this is about a preparing for wildfires which you could have seen coming. lauren doing your job. stuart: that's my opinion. a.

lauren: well, most people -- stuart: you've got to agree with that, mark? >> heck, yeah. you have to maintain your forests, make sure there's water in the fire hydrants. climate change certainly doesn't protect you from arsonists who are walking around trying to light things on fire. stuart: ain't that the truth? coming up, someone has the clean up biden's border mess, and donald trump's the guy to do it. if he can beat back court challenges, immigration is going to look very different. my take, top of the hour. say good-bye to dei. the trump administration has ordered federal de or i staff to be placed on paid leave by 5 p.m. today. the white house calls it the most important federal civil rights measure in decades. hillary vaughn has the story from capitol hill next. ♪ and i said good-bye to you. ♪ good-bye to everything that i knew ♪

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♪ ♪ stuart: the white house has ordered all federal dei staff to be put on paid leave by 5 p.m. today. hillary vaughn on capitol hill. tell me more, hillary. >> reporter: stuart, dei is dead. president trump signing an executive order directing all

federal agencies to close up their divisions, their diversity, equity and inclusion divisions. they're putting all dei staff on paid leave. they're also shutting down dei-related web sites. and trump appointees at all of the federal agencies are glad that they can just focus on the job in front of them. >> the way president trump is doing it is going right to the source of that decline, and he's getting rid of it root and branch. and dee's part of it. to your point, people would be shocked if they learned how much dei had been embedded in agencies. at the fcc alone, we were spending millions and millions of dollars promotion it. that's ending. >> reporter: trump signing an executive order declaring from now on jobs in the federal government will be awarded based on hard work and results. dei staff have been noted notifw on paid leave until further notice saying that dei programs can have, quote, divided

americans by race, wasted taxpayer dollars and resulted in shameful discrimination. the memo also says that any if effort agency-wide to try to disguise or revamp dei offices as something else or fold them into something like hr, that there will be consequences for that. stuart? stuart: so dei is dead. hillary, good report. thank you. check those markets, please. 24 minutes' worth of business. dow's up 100, nasdaq is up 246 points. will ending dei make american business more efficient and profitable? >> it's a waste of money. absolutely. so if you can get rid of that not just at the federal government, but within private enterprises as well, absolutely. stuart: meritocracy's a good thing. >> yeah. i mean, if you want to grow your company, you need the brightest and smartest people working for you, not just people that check a box, without a doubt. stuart: what surprises me is the way trump just comes in and

says, it's over. offer lauren not that many people seem to have a problem with that either. you also expand your talent pool. there's more people you can choose from. stuart: i think you're right. tepper, thank you for joining us for the hour. still ahead, we'll ask mike huckabee about the status of to seesfire deal between israel and hamas. brian kilmeade if on trump firing more than a thousand biden appointees. martha maccallum will look at the rise of young republicans on college campuses, and congressman brian babbin will lay out his new bill the to limit birthright citizenship. the 10:00 hour is next. ♪ ♪ if. ♪ ♪

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