tv Varney Company FOX Business January 31, 2025 10:00am-11:00am EST
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stuart: a rolling stones song which i've not heard before. that is a new one on me. it is raining in new york so there you go. it is 10:00 eastern. the green is still there, especially the nasdaq, dowse up 20, s&p 30, nasdaq up 224 points, overwhelming percentage, the yield on the 10 year treasury has been moving up today, back to 4. 5% and the price of oil in the mid-70s, low 70s, 72-10 as of now in bitcoin last time we checked one hundred 5 grand, now it it is 104-5, that's a look at the markets and now this. thursday mark zuckerberg holder you and a session with meta's employees, laying down the law to the whole company and didn't want to hear any opposition.
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zuckerberg has bowed to the power of donald trump. 's employees may not like it. techies are famously liberal but this is a new era and even silicon valley understands with this president you have to go along to get along. after pressure from trump zuckerberg has ended fact checking which had been used to cut 3 speech, he and the diversity efforts across the board. he has banned workplace discussion on contentious political and cultural issues, remove tampons from men's bathrooms which at thursday's meeting he said it was, quote, fundamental to meta-to be on better terms with government around the world especially trump's government. this is an extraordinary 180. it is a total reversal. trump flexing his muscle, having impact. paramount in talks with donald trump over 60 minutes lawsuit, trump says cbs deceptively edited the 60 minutes interview
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with kamala harris, his suit may be a legal long shot but cbs worries a muscular president will make trouble and he's not afraid to do it hence the settlement talks. abc paid $50 million to make a trump seat go away. columbia caved when threatened with ruinous tariffs if they didn't take back their citizens, now columbia's president is asking all undocumented colombia living in america return home. does anyone believe any of this would be happening if kamala harris had won the election, of course not, zuckerberg would not have been afraid of the harris administration but he scared to death of trump, the next out of muscle flexing starts tomorrow 20% tariffs imposed on mexico and canada. we don't know how this will turn out but we do know this. the new sheriff will use his clout to put america first and he's got plenty of clout. second hour of varney just getting started.
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stuart: jason chaffetz with me this want to come everybody seems to be caving to trump except canada which analysis you impose those tariffs and we are going to respond forcefully. >> they haven't learned the colombia listen, what is donald trump fighting for. is fighting for america. he is fighting for the united states, he's fighting for equality essentially. don't run roughshod over the united states, don't split us in two, treat everybody the same and you will be just fine in the united states but if you're going to take advantage of people, if you're going to suppress conservatives and republicans, go after people, there is going to be difficult for you, treat us fairly. treatise equitably and you will be fine. he carries the biggest stick, he does know how to negotiate but he has the support and mandate of the american people,
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we have 6% of these buildings that are occupied, very reasonable. we are paying for them, these salaries, they need to come to work and if it is too much for them, they can quit and go find another job. stuart: one of the most popular programs i've seen donald trump come out with. >> it's common sense. stuart: government workers who refuse to go to the office are not going to be popular, that's a winning thing for trump. >> if you don't like it, quit. stuart: quit a good government job. >> it is a rich deal. it is a rich deal. stuart: in government job is called the golden job because it always pays off. anyway stay with me for the hour please, good to see you. check the market please, the standout this morning is clearly the nasdaq and big tech, up 250 for the nasdaq, almost 1.3%. i want to talk about apple.
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iphone sales in china down, profits up to a record high, investors like it. do you? >> not back to its high. it has come up a little bit this week but if you look at their annualized revenue the last couple years it has been 5%, that's not a lot of revenue growth, the s&p only trades at 22. i suspect there's a reason warren buffett told 60% plus his position this past year. we are getting to a point they don't have a lot of innovation and hoping for another iphone upgrade cycle. china has other options. stuart: i was talking to mark marhaney, big tech has run out of some steam. not exactly a pause but not going gangbusters anymore. >> it really is the big
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elephant in the room, down 50%. %. i don't know if this is the end. a lot less money to create this artificial intelligence algorithm but it says you don't need to be a weatherman to know which way the wind blows. it is commoditized. in the 90s when you had the internet, routers and the cisco, the infrastructure of the internet did well at first and then the amazons of the world, facebook built on the infrastructure and that is what you will see, who will build infrastructure on this ai infrastructure we built. you are long in the tooth on harder stuff like nvidia. stuart: you are not touching them. >> put your money elsewhere where companies use the technology like salad change near my office, they have
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robots that make your salads or machines that can cut down their employees by 50% every store when they automate their systems from making actual salads. if every company is using this technology basically increasing it. stuart: you want me to take money out of my microsoft and put it in sweet greens? >> i say -- i realize you don't eat salads. >> digging a deep hole and let you keep digging. lauren: robots are affordable, one hundred $50,000, maybe you invest in one of the robotic companies, not necessarily the rabbit coming. >> what do it for lunch, fish and chips? stuart: fish and chips in the bar. now. so basically you put money into this market because you always put money into the market somewhere.
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>> every company is going to prove their margins like every company, diversify with ai when talking along time and every other company will benefit from these new technologies, margins are going up and profits are set to accelerate elsewhere. blue and thanks very much. you are looking at the movers. micro strategy. you. the largest corporate holder of bitcoin to the tune of $50 billion looking to purchase even more and raised $560 million from preferred stock sale. stuart: the next one. >> the ticker his team because it is a software company that provides collaboration tools for teams to work together, cloud platform growing 30% ai investment appealing to larger businesses, stocks up 17%. %. stuart: colgate-palmolive. i've heard of them for a long time. lauren: missing a cut. they are forecasting annual
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sales below expectations on week demand for typical household products because of a series of price increases. a lot of customers are trading down. stuart: toothpaste? lauren: apparently. stuart: still had fireworks over drug company donations at the rfk junior hearing. >> almost all members of this panel including your self are accepting millions of dollars from the pharmaceutical industry. stuart: what did bernie sanders have to say? we give you the full tape and you can see, donald trump says tariffs on mexico and canada will kick in tomorrow and there's one item he may exclude. we have the story. the white house is holding a roundtable on education. byron donalds will be here and gives us a preview, school choice next. ♪
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stuart: donald trump says his plans were tariffs on canada and mexico still in place. edward lawrence, my question is will this include tariffs or sanctions on canadian oil? >> reporter: it appears no but it looks more likely 25% tariffs on canadian and mexican goods. looks like possibly headed towards a trade war with canada but justin trudeau spoke about
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ten minutes ago saying he would meet tariffs with tariffs and they are working to internally increase internal trade in canada and replace the american goods signaling a decoupling of the deadline set by 12 oh one saturday morning, ongoing talks with canadians but no breakthroughs to stop the tariffs. yesterday the president signaled oil is exempt from tariffs, he believes lowering gas prices remains the key to bringing down all prices. >> oil is going to have nothing to do with it as far as i am concerned. >> reporter: there are a few options, the president could impose the tariffs tomorrow, the president could say the deadline was a deadline for a deal. there could be a date in the future tariffs will go into effect and could impose industry-specific tariffs to add pressure.
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representative roger williams says the us could handle a small trade war with our neighbors. >> i think they will try to create some retaliation and have some talking points but you want to do business with the greatest economy in the world, they are a neighbor and they are getting attention and we will see how they react. if they want to cooperate, we can adjust however we need to adjust. >> reporter: i'm hearing there are more talks from this administration. the mexican president said mexico has plan abc and can handle anything that comes out. stuart: i want to bring in byron donald's, the canadians say they will respond forcibly if we impose these tariffs. looks like we have a confrontation coming here. are you comfortable with that. >> we know that justin trudeau
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is on his way out the door so he can say what he wants to say. the united states of america led by donald trump will reinsert to make sure all the issues facing our nation are fixed and come to heal once and for all. we 've gone through four years of political weakness coming out of the white house. this is a return to american dominance. specific to the other things that need to be fixed that are not economic in nature, we need the mexican government to do what it needs to do on the southern side of the border to show our nation, many things at play here. be patient and let the president do what he does best which is make a good deal. stuart: it is school choice week and next hour the 11:00 hour i believe you are going to the white house to talk school choice with the president. do you have some sort of tax break in mind to encourage
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school choice at the state level? >> there are a couple options on the table. one has been talked about a lot on capitol hill, to create a tax credit system for people who use money to put their children in the academic venue of their choice. i think this one is prominent. there are other ideas to expand the use of 529s for more applications and find a way to move federal dollars for children who really are at risk so a lot of ideas are swirling around capitol hill. if you remember in the first iteration of the tax cut and jobs act we expanded for k-12 education. a lot of ideas but to deliver that. stuart: in my opinion they seem
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the principal opposition to school choice. got to fight them. >> look at states around the country. florida, texas, tennessee, states moving towards the school choice because that's what parents are demanding. the teachers unions, if unions want to fight against a well of parents they will continue to move more ground. school choice is here, it will grow across the country and that's the right thing to do, the academic and economic future of my children is one of the top priorities. i want every tool available to help invest in them, we should provide those tools to everyone. stuart: you will be in the white house in one hour. thanks for joining us, appreciate it. look who is still here. jason chaffetz.
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sounds like an off-the-wall question. do you think we will ever see the day the department of education is abolished? >> we should abolish it, cut out the middleman, let the dollars flow to where the kids are going to school and let parent to be empowered so they can pick the schools they want to go to. if they are in a failing school and kids not doing well and the teachers to do it, you should have options. particularly in the inner cities we have school districts where not a single student read a doing math at proficiency. not a single one. if you are a parent and you see that, i like to give it more positive spin, give those parents a scholarship so you can have the money and funds to get them into school. stuart: they vote in favor of failing public schools.
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>> in our neck of the woods it is popular in utah and other places. when you teach people, in washington dc we supplement this a lot but the teachers union fights against it congress keeps fun to get and the parents and children that do it they are actually succeeding. stuart: thank you very much indeed. programming note, charles payne is going to take a deep dive on the truth of tariffs and how the market is going to react, making money at 2:00 eastern on fox business. coming up, senator bill cassidy, chair of the senate health committee has concerns about rfk junior's nomination. >> my responsibility is to learn, trying to determine if you can be trusted to support the best public health. that's why i have been struggling with your nomination. stuart: where does rfk junior's
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nomination stand? after fires devastated thousands of homes in california, jillian michaels says this will drive voters towards the republican party. jillian michaels next. i'm thinking of updating my kitchen... —yeah? —yes! ...this year, we are finally updating our kitchen... ...doing subway tile in an ivory, or eggshell... —cream?... —maybe bone?... don't get me started on quartz. a big big island... you ever heard of a waterfall counter?... for everyone who talks about doing that thing, and, over there. but never does that thing... a sweet little breakfast nook. chase has financial guidance. let's see how you can start saving to make this happen. —really? —really? really. at home or in-person. you could also check out a chase money skills workshop.
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stuart: it is a solid gain, one% on the nasdaq composite and the s&p on the upside. let's check out exxon mobil moving today, what's the story? >> the lower price of oil is hitting exxon and other players today and three brokerages lowering their price target to one hundred 23 which seems the magic number higher than they are trading now. stuart: $72. neil: we are not concerned, they cut guidance on weakness in their soccer franchise.
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too much competition, it's not a problem. stuart: what about credible momentum? lauren: two popular brown's but guidance is like, overshadowing strong quarter, stock is down 15%. stock is up 82%, could be profittaking. stuart: they have hot products but a week outlook. lauren: a solid outlook slightly lighter than expectations. and big shoots. lauren: a big soul, i don't have any money. the tasman slippers, they sell out like you have no idea. stuart: it is down 15%. i want to get to this. senator bernie sanders went after rfk junior during his
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confirmation hearings. lauren: kennedy said sanders because is up to big pharma, the crowd cheers, sanders denies any such corruption. >> by the way, bernie, the problem of corruption is not just in federal agencies but in congress too. almost all members of this panel are excepting including your self are accepting millions of dollars from the pharmaceutical industry. >> no, no, no, i thought that would -- i ran for president like you. i got millions and millions of contributions. they did not come from the executives. >> the largest acceptor of pharmaceutical dollars. 5 million. >> out of 200 million. lauren: senator sanders says his donations came from employees, not leaders of the healthcare industry.
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rfk junior pulls millions from lawsuits against the drugmakers. stuart: let's bring in jason. do you think rfk junior has the votes? >> there's a party of one he has to focus on and it is bill cassidy. a bill castelli, senator from louisiana is a doctor, the most pivotal vote on that committee because he has not yet decided. they could get him out of committee, getting to the floor, republicans can only give up three votes. it's going to be touch and go to the finish line. stuart: california residents who lost their homes in the fires are looking for places to rent. max and gordon in california. is this creating bidding wars? >> reporter: we seen a rush on rentals as well as accusations of price gouging by landlords.
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caliph when you land doesn't allow rent increases of 10% for properties with leases of the year or less during declared emergencies like this one. so far the state attorney general has charged two landlords with price gouging, the la county da's office says they are investigating other suspected incidents. a crowd sourced spreadsheet created by a rights group has 1500 incidents of rent gouging. >> we should be focusing on this so people can start rebuilding their lives. instead we have a bunch of landlords making a profit off of this moment. people should be angry about that. >> la county had a housing problem before the fires. rental vacancies were at 5.5% in the third quarter of 2024 according to realtor.com. la rents are the highest in the country. the rental market is likely
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going to get tighter especially in areas close to the palisades. of single-family homes, the most abandoned are being leased in less then week. we spoke to in eaton fire victim staying at an airbnb who painted a picture of finding a rental in this market. >> you could have an appointment and beyond the way to and they say somebody got there first and that's the situation where you don't want to be upset that are distraught. >> reporter: some advocacy groups with rent increases as well as evictions but unclear if these were at the support of lawmakers. stuart: jillian michaels, in the aftermath of these fires and dreadful suffering going on do you think we might see a state wide vote in california where a republican wins? is that a political reversal possible?
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>> it is possible but the republicans have to be smart who they put forward. this would be gavin newsom's third recall, what they put forward previously is socially conservative and people of california can't swallow it. gavin newsom has screwed up enough, people are absolutely fed up but republicans have to be strategic and moderate socially with their candidate of choice. stuart: the chair of the senate health committee, doctor bill cassidy, says he has concerns about rfk junior's nomination. >> my responsibility is to learn, try to determine if you can be trusted to support the best public health, a worthy
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movement to improve the health of americans or to undermine it, always asking for more evidence and no accepting the evidence. i looked at the article and it seems to be, have some issues. that is why i have been struggling with your nomination. stuart: i believe you are a big fan of rfk junior. what aspect of his policy do you really like? >> there are three things that rfk has been tasked with doing that i am exceptionally passionate about. weeding out corruption between government health agencies and special interests and private industry, you have a revolving door with individuals who run the fda and work for big pharma companies, part of the opposition you see from these
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senators is they are taking millions in campaign contributions from big pharma, big food, it is undoubtably playing a role in the reason american this are unhealthier than ever. the second part is he is asking for gold standard science, this is not unreasonable. the example rand paul throughout that i use often is the hepatitis b vaccine for a newborn. i want you to appreciate this is a disease that is passed through intravenous drug use and unprotected sex. you can test the mother first before vaccinating of a newborn. the question becomes why are we giving this to a child and i will echo rand paul's sentiment that that is not science and to be clear they only monitor a child for adverse events 5 days
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after each invention of this vaccine. kennedy is saying that's unacceptable and the third thing and the most important is quantifiable results and improving health of americans and don't know how you argue with her that. measles was brought up 25 times. not one person brought up diabetes, heart disease, cancer, the fact that 74% of american adults are obese and overweight. it is outrageous what is happening to americans today and the senators are purposely overlooking is that. stuart: i can tell you are a fan and his confirmation is going to be very close. come back and see us any time. anytime. still ahead, colombia's president is telling illegal migrants in america if they are from colombia, quit your jobs immediately and go back to colombia. that is a turnaround.
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officials in virginia raising concerns about dc's airspace for years. >> in the old days before the immunity program air traffic control got two airplanes too close too many times it would be decertified and retrained. now they are not. stuart: are the skies too crowded? that's next. advil liqui-gels are faster and stronger than tylenol rapid release gels. ♪ also from advil, advil targeted relief, the only topical with 4 powerful pain fighting ingredients that start working on contact and lasts up to 8 hours.
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don't settle for cheap, stinky floor mats. at weathertech we make our floorliners and cargo liners here in america, out of pure non-toxic american materials. dad, next time get weathertech. they don't stink! i'm on it. find out everything we have at wt.com. stuart: donald trump moving forward with his plan to place 30,000 criminal illegal migrants in guantánamo bay. what is the president now saying about gitmo? >> reporter: they see this as a workaround for when countries
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of origin won't accept criminal aliens back. and when detaining them in american communities make these places less safe. >> military leaning forward to help with moving them to their home countries or someone else in the interim. they can't go somewhere right away they go to guantánamo bay. we don't want to put them at risk in transit so if you have those existing facilities let's use them and we will use them to serve the interest of the american people who are suffering under an invasion under president biden. >> reporter: donald trump is threatening to get the gitmo outpost for commonly aliens set up quickly. >> is there a possibility it will increase? what would be the maximum? >> it depends. countries that won't back there criminals that they sent into was they sent them to us, put
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them into the caravans. they were sent by those countries and they will be met harshly with sanctions etc. . >> reporter: he is complaining about this, doesn't sound like there's anything he can do. stuart: thank you very much. a us air force jet, i guess it is a us air force personnel person, says they were not allowed to fly over mexico when returning illegal migrants to guatemala. why not? lauren: it is confusing, this military plane was flying texas to guatemala and took a longer route to circumvent mexican airspace. that is what happened. mexico says we never denied us permission to fly over our airspace. mexico's president said she would not accept military deportations into her country. no comment on over her country.
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colombia president does not like the use of military planes for deportations. to treat citizens as criminals. now he's urging undocumented colombia in the united states to quit their jobs immediately and return to colombia. he posts wealth is produced only by working people, the department of social prosperity will seek to provide productive roles to those who enroll in its programs. stuart: all right. lauren: that is an about face. stuart: marco rubio on his way to central america including guatemala. will they cave? >> i think guatemala is doing things that are productive. they need to work with in the united states and thrive and do really well but panama, rubio and trump will work to solidify that but work with of the united states, life will be good. stuart: still ahead, donald
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trump has reversed every policy hangover from president biden, now foreign policy will change big time. trump and rubio have credibility. the world knows they will do what they say they will do. that's "my take" top of the our. trump's middle east envoy says rebuilding gaza could take 10 to 15 years. who pays? retired 4-star general jack keane on that next. (vo) weight loss is changing. for so long, i felt stuck on repeat. i tried, and tried again. lost weight, gained it back. but zepbound means change. zepbound is for adults with obesity, to help lose weight and keep it off. activating 2 naturally occurring hormone receptors in my body, zepbound works differently. it's changing what i believe is possible when it comes to weight loss. it's changing how much weight i lose.
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stuart: plenty of green for the nasdaq, better than 1.4%. 36 up for the dow, 43 up for the s&p. israel's prime minister netanyahu said to visit next week. jack keane joins me now. what do you think benjamin netanyahu wants? permission to finish the job with hamas or does he want permission to go after iran? what do you think? >> to be frank about it you can see on the videos we have been watching every time there's a hostage release taking place in gaza the presidents of hamas,
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visibly demonstrating to the world that we are still here and still in charge. prime minister benjamin netanyahu does not want to that to happen. he knows if they are in charge of the reality is the money, the humanitarian assistance that pours into gaza, they are going to pocket it. number 2, they intend to rearm and attack and from the outset, benjamin netanyahu said my objective is to ensure the destruction of hamas so they don't attack again. now we are in the second phase of negotiations while the hostages are being released every several days and the second phase of the negotiation is the toughest thing because the end state of that phase is supposed to be a complete and permanent withdrawal by israel
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from gaza. not what we are discussing in terms of what benjamin netanyahu wants and hamas to disarm and that is not what hamas -- these two organizations are colliding over those stated objectives. seems impossible to me that they could ever get there. is real wants to stay multi-years in gaza to ensure hamas does not rise again. the second thing is really crucial and this is the reason benjamin netanyahu is coming to washington, trump did the right thing in inviting him as his first international visitor, the opportunity to finish off iran. they have lost the power of their proxies, lost their strategic platform in syria, the system to protect their
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leadership in tehran as well as nuclear assistance, benjamin netanyahu will make a strong case taking military action against them. there are other actions, coercive diplomacy and see if we can get the irani and this to dismantle the system. these are discussion points and the normalization with saudi arabia and israel as part of the abraham accord. stuart: marco rubio is preparing to make his first trip to panama tomorrow, donald trump wants to regain control of the canal. how should we regain control of the panama canal. how do we regain control? >> the number one issue, even if that is a negotiating item here for him is the security situation.
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what we have a developing as has been stated, china has a port on each side of the can now run by a hong kong company but it is china and we know full well in the event of conflict in the indo pacific region it is likely china will take control of that can now and shut it down. they are building a bridge over the panama canal and people are befuddled by the fact that china has said it would take ten years to build this bridge. the thought process, they would use that platform as well given it would take so long in the event of conflict with the united states to control the cut now. the security situation is the preeminent issue and assuming that is what marco rubio will talk to them about and i applaud him for getting there
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so only in the administration because the western hemisphere has largely been ignored. the second thing is the economic issue. we've put on the table that prices are being gouged a for the united states navy going through and our ships. panama is disputing that. secretary rubio has got the facts and put the facts in front of him and i don't believe taking control of them is going to be an issue in this discussion but possibly so if they negotiate it back with us. i don't see the united states using force on panama to gain control of the cut now. this is the right move at the right time in terms of marco rubio getting down there early in the administration to deal with the issue. stuart: always a pleasure, thank you for joining us. you are all right.
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see you again real soon. i want to say thank you to you. still ahead, steve hilton on the water crisis in california. former acting ice director jonathan fair on whether we are developing a backlog of illegal migrants before we can get them out. nicole parker on kash patel's goal of reforming the fbi. the 11:00 hour is next. ♪ ♪ born to be wild ♪ born to be wild ♪ ♪
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do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or
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keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. >> looking to, i i think, a new generation of leaders who are from outside of washington. >> this deepseek is a lot of news about a almost nothing other than national security concern, but we are off to the races. >> i don't think deepseek actually is a negative event for a company like meta, and any iterations, improvements, cost efficiencies benefit thed model. >> china controls both ends of the canal. they
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