gravy train to end. take a looked at markets, dow industrials down 41, nasdaq down 140 and the s&p lower by 18.5. looks like we'll start on the back foot again this morning, adam a. >> we will. it's the another opportunity to buy. no, it's not over. this is the algo just trading, that's all. >> absolutely. >> thank you. >> volatility is a friend of the long-term investor. futures are actually in better shape than they were a few hours ago. maria: we will leave it there. i assume we're going to have more con pair makes for the cabinet as a well -- confirmations. see you again tomorrow, "varney & company" begins now. stu, take it away. stuart: good morning, maria. good morning, everyone. it was a jaw-dropper. president trump has a solution for that pile of rubble known as gaza. america takes it over, levels it and turns it into what he calls the riviera of the mideast. that was a stunner. of who pays for this? where do the palestinians go? trump's idea has been

contemptuously dismissed by just about a everyone, but we have yet to hear my other plan. trump has at least offered an opening fam bit. in the in the absence of any other ideas, let the negotiations begin. that's' where i'm coming from. elon musk is rapidly consolidating his power, and the democrats are apoplectic the. senator schumer tried to play rabble raiser, it didn't work. the -- rabble-rouser. two big name stocks in the news, start with apple. china is reportedly investigating apple's app tore for possible monopoly practices. the stock down 2%. alphabet, that's google, way down. its cloud business outlook disappointed. they're spending $75 billion on a.i. is all that necessary when china's cheaper deepseek seems to do it on the cheap? the stock's down $15, that is 7% on google. there's red all across the board, dow down maybe 40, but

the nasdaq because of google and apple down 145. interest rates, actually, they're coming down. the yield on the 10-year treasury is below $ 4.5 -- 4.5%. bitcoin, below 00 -- 1000 grand, 98,6 is the new quote. politics, trump is more popular now than he's ever been. his base likes the first weeks of his presidency, and his base is expanding. a rebound for military recruitment, at a 15-year high. wednesday, february the 5th, 20 2025, "varney & company" is about the given. ♪ ♪ stuart: we really do have the begin with this: president donald trump announcing a bold plan to have the u.s. take over gaza and transform it from rubble to the riviera of the

mideast. watch. >> the u.s. will take over the gaza strip, and we will do a job with it too. we'll own it and be responsible for dismantling all of the dangerous, unexploded bombs and other weapons on the site, level it out, create an economic development that will supply unlimited numbers of jobs and housing for the people of the area. just can't go back. if you go back, it's going to the end up the same way it has for a hundred years. we have an opportunity to do something that could be phenomenal, and i don't want to be cute, i can't to be wise guy, but the riviera of the middle east, this could be something that could be so, this could be so magnificent. stuart: the okay. who i pays, where do the palestinians go, how do you get them out? plenty of questions. but my point, trump is the only person who has come up with a solutionment maybe farfetched, maybe improbable, but it's a start, and there are no other ideas out there except the return of the palestinians the

building tunnels and taking hostages. by the way, in the same news conference, prime minister netanyahu praised trump for his leadership. >> i believe, mr. president, that your willingness to puncture conventional a thinking, thinking that has failed time and time and time again, your willingness to think outside the box with fresh ideas will help us achieve all these goals. and i've seen you do this if many times -- many times. you cut to the chasement you see things others refuse the see. you say things other refuse to say. you know, and after the jaws drop, people scratch their heads and they say, you know, he's right. [laughter] stuart: then there's this, according to the real clear politics polling average, donald trump's favorability rating has reached a personal best. look who's here this morning, pyro. my position, this is my third

time of saying outen -- it on the show, trump's the only guy to i put an with the idea on the table. >> i agree. you don't know if this is going to work, i don't know if this is going to work, but can you name me one thing that has worked in the last 100 years? i'll wait. you can't give me anything, i can't give you anything. the way that all the other billions of people on this planet have come up with solutions hasn't worked, is so trump's going to the try something new. is it going to work? we have no idea, but why not try? if you know what it reminds me of? that right to try, and again, completely different context with regard to trying to save lives with new treatments and the like for medicine and stuff like that, that's kind of what this is. if the person is going to die anyway, why not? if this region is going to die anyway, why not try something and see what happens? stuart: he's got the only game in town at this point. let's get somebody else to get something on the table.

>> 100%. stuart: todd, stay with me. if trump says he's many no hurry to open talks with china's xi jinping. watch. >> reporter: mr. president, what's your reaction to china's retaliatory tariffs? >> that's fine. that's fine. we're going to do very well against china and against everybody else. right now they're taking advantage of the biden administration like i've never seenment i've never if seen the deficit with china is about a trillion trillion dollars. >> reporter: any update own when you'll speak to president xi? >> no, we'll speak to him at the appropriate time. i'm in no rush. stuart: china's considering launching an investigation into apple's app store, and that's taken 2% off apple's stock. thomas hayes joins us this morning. apple's down on this possible china probe. the europeans mayaluate against american -- real unite against american big tech for -- retaliate. is big tech in trouble, tom?

>> well, it's february, stu. buckle up, buttercup, and get your shopping list ready. i think we've been suggesting to trim your magnificent seven as a theme for 2025. and part of that is rooted in this trade issue, but part of it is earnings growth has been decelerating, going to decelerate from3 3% last year to 21% this year. but the multiples are still elevate ised. and you're seeing all this cap-x. you saw it with alphabet last night. they took their cap-x estimates from 60 billion to 75 billion, and they missed on cloud service revenue preponderance. so this is a lot of defensive spending. we have yet the see the return on invested capital for all this cap-x, so i think mag 7 is going to take a little bit of a breather, and you want to the play that rotation theme that began in summer of last year. stuart: let's take the two twoing bug stocks in turn. first of all -- two the big stocks in turn. first of all, apple are they mixed up in trump's dispute9

with china? if and -- if so, are they going down some more? >> yeah. i think u.s. stock the market exceptionalism has been tied to the mag 7. the concentration is a third. i do think they're going to be target number one not only for china, but the e.u. has put together this anti-coercive instrument they're redding if trump -- readying if trump levels tariffs. aping gets 30% big -- apple gets 30 percent on every apple app, so that's an easy target for foreign governments, for sure. stuart: google is way dun. they're spending $75 billion in this year, this financial year, on a.i. do they need to spend so much money when china comes along with deepseek and does it much cheaper? if. >> it's an existential threat, ands this is the defensive spending. i think you've got to lower your overweight to mag 7. i think you want to take advantage of some of the

unmagnificent 493 because the bottom line is go where the earn earnings is accelerating. it's the accelerating this year in the rest of the market. last year was the mag 7 story. lighten up just a little bit, you know? if you're in inindices you are overweight mag 7, looked at system of the cheaper stocks for 2025, for sure. stuart: got it. tom hayes, thanks for joining us this morning. thank you, tom. >> thank you. stuart: demonstrate theres gathered outside the treasury county the protest elon musk involvement in the add manager. you've got to watch this -- in the administration. >> lock him up! lock him up! lock him up! lock him up! lock him up! lock him up! stuart: okay. we got the message, lock him up. now listen to what a a oc had to say about elon musk. roll it. >> this dude is probably one of the most unintelligent billionaires i have ever met.

[laughter] or seen. or witnessed. they don't do their homework. clearly, like, they're putting 19-year-olds in at the treasury. this dude is not smart. stuart: this dude is not smart. hmm. elon musk, not smart? a dude? [laughter] >> where would you like me to start on this? stuart: go where you like, son. >> let's start at elon musk is not smart accused of putting 19-year-olds in positions. those 19-year-olds literally just forgot more this morning than alexandria ocasio-cortez ever knew. [laughter] so we have the keep that in mind. these are geniuses that he's putting in charge or he's having incorporated into doge and this entire process. so they have the ability to use the tech tools at their disposa- stuart: that's true. >> -- to really find efficiencies and root out inefficiencies. so for her to say that is abominable. as for the individuals who are saying lock him up, one, based upon what law in because there's

no law that he is violating currently. second, they're all just frustrate the because he's going after a -- us from frustrated -- frustrated because they're part of the deep state and that washington bureaucracy that has made livings off the backs of taxpayer dollars and done nothing in return. it's overment. stuart: at the heart of the question is whether musk has the legal authority to do what he's doing. you're a recovering lawyer. what do you say? >> i can understand from the legal perspective saying what he is doing could be challenged especiallyhe gets a favorable court. but the challenge comes at the way that doge has been packaged. finish and somebody could make an accusation that, oh, you are not following the proper procedures to do what you're doing as doge. let's say the courts say he can't do it the way he's doing it. all he does instead is say, okay, i'm going to just make mere recommendations to the various bodies, congress and the president, and then you guys do it because you, under this adverse court ruling to me, have

the authority. somebody in d.c. has the authority. republicans control all the levers of government right now. one way or another it's going to get done, and and that's why they're upset. but when you know you've lost, that's when you yell k and that's why from the politicians to the people in the audience, d.c., deep state is yelling. stuart: thank you, todd. appreciate it. coming up, president trump signed an executive order to withdraw the the u.s. from what he considers anti-american united nations' organizations. senator joni ernst is going to deal with that one for us. president trump says everybody he's spoken to loves the idea of america owning gaza. >> everybody i've spoken to loves the idea of the united states owning that piece of land, developing and creating thousands of jobs with something that will be magnificent. stuart: we're going to sort it all out for you next. ♪

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stuart: futures in the red this morning except for the dow which is up a tiny if fraction, just 10 points. the nasdaq taking it on the chin, down 129 points, and this is why: big tech turned real pressure this morning, especially apple and google. microsoft, apple, alphabeting amazon, meta, they're all down, especially alphabet as in google, 7% lower. i want to get back to trump's plan to take over gaza and create the riviera of the mideast. trey yingst joining us from tel aviv. trey, does trump's plan have support in israel? >> reporter: yeah, stuart, good morning. it's certainly well received here many israel, but the news is echoing across the region following president trump's announcement that the united states plans to take over gaza.

the commander in chief even leaving open the possibility of u.s. forces operating inside the strip. we do know his plan is to have all palestinians relocated to regional countries like egypt and jordan. both have rejected the idea, and saudi arabia pushed a back on the concept of forceful displacement. trump also made comments about a iran saying if he's assassinated, he left instructions. >> if that happens to a leader or close to a leader, frankly, if you had other people, you would call for total obliteration of a tate that did it. that would include iran. so i'm signing this, and it's a very powerful document, but hopefully we're not going to have to use it. >> reporter: trump ache thatting to truth social -- taking to truth social saying i want iran to be a great and successful country but one that cannot have a nuclear weapon. reports of the united states working in conjunction with israel is going to blow iran

into smithereens are very much paneling if rated. we should start working on it immediately and have a big middle east celebration when it is the signed and completed. god bless the middle east. i do want to the ship back to what a plump said about gaza. hamas is react aing to this news saying my manipulation of the deal could lead to the its collapse. stuart? stuart: trey, listen to what trump said about a iran's nuclear capabilities. watch this, roll it, please. >> they cannot have a nuclear weapon. it's are simple, i'm not putting restrictions, they cannot have -- one thing. they cannot have a nuclear weapon. and if i think they will have a nuclear weapon despite what i just said, i think that's going to be very unfortunate for them. stuart: trey, trump is giving israel these bunker buster bombs. will trump and net an what hue go so far -- netanyahu go so far as to attack directly iran's ooh

nuclear facilities? >> reporter: well, look, those remarks from president trump certainly music to the ears of israeli leadership because they understand that iran is the major security issue for their country. they're fighting a multifront war right now with gaza and also with lebanon. but when we step back, the real concern here is iran obtaining a nuclear bomb. the country is object to ily getting closer to a nuclear weapon, they are increasing the uranium enrichment, and it appears the commander in chief is basically saying to iran, you have two options. you can have a peaceful and prosperous if future with sanctions relief and the ability to continue your military programs but not get a nuclear bomb, or there could be other conventions -- consequences. at this point it appears president trump is looking for a diplomatic option. but by his actions in giving these bunker-buster bombs to the israelis, he is certainly preparing for the possibility that diplomacy fails. stuart? stuart: trey, trump also said

iran is getting very close to getting a nuclear weapon. do we know how chose? >> reporter: very close. according to the u.n. nuclear watchdog, their breakout time for a nuclear weapon is a matter of weeks, and this has been greatly reduced over the course of a year or two because iran is getting smarter. they are learning how to enrich uranium at a level that is close to weapons-grade with material, and that is why the sirens are sounding. that that's why these red flags have been raised. the concern is that if iran decides the pursue a bomb, it could be a matter of weeks or just a couple of months before they're able to do so. stuart? stuart: trey yingst, we appreciate it always. thank you. now this, army recruitment breaking records under president trump. elector todd, how many people are signing up? >> can defense secretary pete hegseth posting the news on x, quote: breaking, meaning breaking news n december 2024 the u.s. army had its best recruiting number in 12 the years. in january 2025, the army hit

its best recruiting number in 15 years. bottom line, america's youth want to everybody serve under the bold and strong the america first leadership of@real donald trump. while it's unclear what recruitment number hegseth is referring to, the army does say it hit its target in fiscal year 2024. in addition, army secretary christine war muth told the associated press in january the army is poised to hit its 2025 the targets with an 81,000 new people expected to sign up. i don't begin to understand the inner workings of the pentagon or army, i told everyone that would listen on air hegseth is going to be good for recruitment because every single rank and file individual is ready to go for coach hegseth. we saw that. again, i can't talk to thes and os of being a military guy. but recruitment, we knew this would happen. stuart: you get rid of woke and dei e in the military, people will join the military. i think that's what happened. >> and also a when you look like

sports, they love playing for a young coach in sports. these young guys love playing for leg hegseth. stuart: check futures, please. we've got a few minutes until the opening bell. we're down on the nasdaq especially, 130 points down. google and, let's see, google and apple pulling that particular indicator sharply lower. the opening bell is next, and we'll take you the wall street for it. ♪ -- rocking on the radio. ♪ free and easy, down the road i go. ♪ 'cuz i keep rolling like an old banjo -- ♪ free and easy, down the road i go ♪ i'm thinking of updating my kitchen... —yeah? —yes! ...this year, we are finally updating our kitchen...

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stuart: three minutes to the opening bell, the nasdaq's down 130. check out big tech, please. all of them on the downside. microsoft, apple, alphabet, amazon and meta if all on the downside is. shah ghailani joining us this morning. we've got to talk about big tech. google and apple face investigations from china. the europeans are ready to have a go ago at big tech if trump imposes tariffs on them. is the big tech rally in jeopardy here? >> it is, stuart. we've already seen some

diversification out of some of the with big names, the likes of apple, i think, are in trouble. it's coming down to some support here, and if it doesn't hold that support, i think it can go lower. the same thing is true with microsoft if even is under some pressure, but tesla nonetheless the same, but still they're all in line for and subject to retaliation in terms of what we'll call the tariff wars because everybody knows on the other side of every table that if they hit some of these big tech names, tear going to impact the u.s. sock market. and the leadership names, the big tech names if they can undermine them so to some degree, hit their earnings somehow, at least put questions in traders' and nervous' minds about -- investors' minds, then they know they're going to impact the u.s. stock market. that's going to have an impact on the president and how he feels about the tariff wars. stuart: okay, now, at what point would you really buy apple inst

it's at 228 now. at what point do you say, enough is enough, i'm buying now? >> it's going to sound surprising, but 400. i think as far as apple goes, maybe 15 lower than here -- excuse me, for apple about 15% lower than here. microsoft, smoother -- stuart, i think microsoft could test 400, and i would probably be a buyer there. i bought some microsoft and nvidia the other day, and i sold them pretty much break even when they came right back down. i thought we were maybe past that a dust-up with the deepseek issue but, no or, it's still out there, and with the tariff wars, these names are going to be under pressure. stuart: we've had a wonderful couple of years, couple of months and now maybe it's over, would you go that far? >> yes, i would emphasis -- emphasize maybe. a lot of that these company ifs do and offer in terms of their

growth and balance sheets, etc., etc., cash flow amazing. but, still, they've had one heck of a run. the concentration at the top is concerning for a lot of folks. there are a lot of profits on the table with all of these companies, and if investors start to take some profits, yeah, they could start to see a lot of pressure and there's certainly a lot of other names that look cheap in the face of what's happening to some of the mag 7. stuart: i hate to press so hard on big tech because, well, most of our viewers if they've got any stock at all, they've got some big tech. shah ghailani, thanks for joining us this morning. we're going to check this out all through the day. all right, the market is open, and we've opened with the dow -- very small loss. i'd call that dead gnat to slightly lower. -- flat to slightly lower. outside of big tech there are some gainers there. in fact, there's more green than red among those 30 stocks. the s&p 500 on the downside is. it's not a huge loss, .21%. the nasdaq composite, it's down. that's .6%.

123 points lower. look at big tech. i'm pretty sure most of them are down. that's correct. meta, microsoft, apple, amazon, alphabet -- that is google -- down 8%. that's a solid loss. we're going to start with google. morning, taylor. their problem from their earnings report seems to be future cloud business. >> yes. so cloud revenue slowed just a little bit. it came in just shy of estimate thes, about 11.9 billion. analysts wanted cloud revenue to be 12.1 billion. particularly, stu, cap-x. they came in and said it's going to be $75 billion. analysts thought it was jumping up from about $58 billion. so that is a big jump. again, they need to invest when it comes to a.i., but how much is too much. the market's digest ising that. stuart: $75 billion on a.i. in one year -- >> yes. stuart: when the chinese can do deepseek much cheaper. >> so they claim. stuart: is that a problem? >> yeah. we'll have the see how many

investigations, deepseek, how many nvidia chips and money they did use, but, yes, i think the market's questioning spending. stuart: apple is facing a potential investigation from china. what do we know about that potential investigation? >> yeah. so they're looking at iphone app store piece and some of the policies.. -- fees and some of the policies. china questioning why they block third party payment providers and why they take a 30% cut on that in-app spending. the only problem here is apple does need china. remember, when we came into apple earning, three key analysts downgraded the stock because they were worried about market share in china. this is a tit for tat in retaliation to our tariffs. stuart: okay. the postal a service has just lifted the suspension of -- coming to america -- packages coming to america from china and hong kong. that's got to be a sigh of are relief for the retailers, but i don't see it on the screen. >> i think we're still trying to figure out how big of a deal that was. trump enactedded that de minimis

rule because up until then, china could skirt around tariffs by importing goods under $800, that's shein and temu, all those cheap companies that put mom and pops out of business. i was looking at a sweat sweater for, like, $8. it is crazy. we're trying to figure out how the postal service can work with the government to figure out, make sure they aren't skirting around that rule. stuart: they've lifted the ban on packages coming in. >> they have for now. stuart: i would have thought that would help the retailers, pdd which owns temu, but nothing significant. chipotle, they're down. why? >> i know. do you think the price hikes are making you slow down on how many burrito bowls you're ordering for lunch, tu? that might be it. -- stu? if they said that december was volatile and january's off to a volatile start. they're highlighting weather. the wildfires in l.a. creating what they're just saying a lot

of volatility. but don't worry, the cost of goods, sales only about 2% of these come from mexico. avenue avenue cad to -- avenue avocados, denatos. they said -- tomatoes. only half of their avocados come from mexico, so you can till get them. stuart: yeah, but down 4%. they've got pricing -- they don't have pricing power. they've raised prices -- >> they've raised prices enough. stuart: novo nordisk, i think they are up, and i think that's because -- let me guess -- good weight loss drug sales. [laughter] >> yeah. so what if i told you that a sales for wegovy jumped 107%? that's more than doubled. it is unbelievable. but they did say that that they think sales growth this year will slow. i guess that that's not surprising if you're coming off of a doubling of sales, it might slow just a little bit. the company also did say they expect to bring a weight loss pill to market before their key competitor, eli lilly.

stuart: that's what i want, the pill. >> the pill? you can't stab you with a good old -- stuart: i choose not to be stabbed. [laughter] the fda. well, wait a second, they paused their obesity drug study, but the stock's up. why did they pause the study in. >> yeah. they paused the study basically saying that they need more time. we don't have a lot of information right now. we don't exactly know why, but the fda saying let's just hold off on this study. what's interesting, the shares are up, but a lot of analysts that i was reading through this report said they really have to succeed in weight loss drugs because the rest of amgen's pipeline aren't enough to replenish revenue in the long term. again, they have to figure out manager. they had a late-stage trial for another weight loss drug, so they have some things in the pipeline, we just have to get it to market the way eli lilly and novo have. stuart: you've got to tell me about uber. they reported this morning, and they are down sharply, and i own a thin sliver. >> revenue was up, but the cost of that revenue is going up as

well, and and they're trying to manage how much of those costs they pass on to the consumer because, remember, they are in competition with lyft. so you can't just pass on all these prices to consumers because i'll just go to lyft and get a cheaper ride there. that is what they're trying to manage again, but they said delivery was good through the holiday seasonment so, again, it's sort of the ridership. stuart: disney reported early this morning, and i mow that stock is up -- i know that stock is up 11.6%. break -- 1.6%. >> yeah. they topped profit estimates and even though can disney +subscribers actually fell 11%. domestically rose 1%, but international subscriber losses of 2%. overall, that means disney+ subscribers in that streaming service down 1%, and they the pore if cast going forward they think that -- forecast that going forward they think subscribers will drop again, but they're managing it through better profit. starr s.t.a.r.t --

stuart: harley davidson. >> they are forecasting revenue to be 0--5% sticky inflation and, frankly, or they're having a hart typed -- hard time getting young customers into buying. the demographic is aging. stuart: aging. i know all about that. [laughter] the social media company snap earnings report out this morning. i guess it wasn't good. >> they said we beat profit estimates and, frankly, good advertising. they are benefiting from all the uncertainty around tiktok, because if you're an advertiser and your not sure if you can get eyeballs on tiktok, you're going to go spend and get the eyeballs on snap. so they mentioned that but, again, we're not seeing that in the price action today. stuart: okay. taylor, thank you very much, indeed. coming up, we talked about a trump hatred from the democrats. now they really can't hide their a hatred fehr loan musk. >> elon musk is a nazi --

[inaudible] if baby, a godless, lawless billionaire! >> not one republican in america voted for elon musk! they have not one vegetarian in america voted for elon musk. [laughter] stuart: they are animated, aren't they? is this the the new anti-trump strategy to go after musk? trump confirmed, yes, he is winding down usaid. >> reporter: it sounds like you're going to wind down usaid. >> sounds like it, i think so. some of the money is well spent, i guess, but much of it is the really fraudulent. stuart: we're going to have former usaid official on the program in the next hour. she's going to tell us what she says is wrong with usaid. is the republican party firmly behind trump's plan to take over gaza? a member of the senate armed services committee, mike rounds, on that next. ♪ ♪

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stuart: the expanding point about the market this morning is big tech selling off. the nasdaq is down 100 points at this moment. moments from now the house oversight committee will hold a right-sizing government hearing on capitol hill. lucas tomlinson joining us now. lucas, this has got to be about -- right sizing? that means doge, right? >> reporter: there's no question, right-sizing means cutting, stuart. president trump has signed 54 executive orders since returning to the white house, and perhaps the department of education could be next on the chopping block. here's our own peter doocy asking the president about this yesterday. >> reporter: and on the education department, why nominate linda mcmahon to be the education department secretary if you're going to get rid of the -- >> because i told linda, linda, i hope you do a good job and put yourself out of a job. we spend more per pupil than any

if other country in the world, and we're ranked at the bottom of the list. we're ranked very badly. what i want to do is let the states run schools. >> reporter: stuart, trump wants to reduce the size of the federal government through executive orders, buyouts and and layoffs. at least 20,000 government workers have taken that buyout offer, and that number is, quote, rapidly growing ahead of the deadupline tomorrow. deadline tomorrow. as you mentioned, the house oversight committee holds a right-sizing government hearing, and the cia appears headed for major changes. the spy agency is freezing job hiring unless the applicants have the right background for the agency's new goals which include undermining china. and last night usaid posting the following on their web side: on friday, just before midnight, usaid direct hiring personnel will be placed on leave globally except for those responsible for mission-critical function.

vice president j.d. vance taking to exert yesterday -- x, excuse me, saying he thought elon musk and doge would be cutting $250 billion out of the federal government, he says that number could be much hire. of course, stuart, the federal debt is $36 trillion. stuart? stuart: still a big chunk of money though, isn't it? >> reporter: no question. stuart: thanks very much. let's bring in south dakota senator mike rounds. mr. senator, i want to talk about trump's gaza announcement. is the republican party de-- behind trump's plan to just take the it over? if. >> well, i think what he's talking about is finding a lasting peace in the middle east. we all want that. it's one of the more innovative approaches when we talk about creating literally more value there. and i think the people in gaza will tell you that they have always thought that their land was valuable, but now you have a a real estate developer come anything and saying, look, you could have a beautiful piece of land right along the mediterranean. he's going to talk about the value that the it could create. his focus is on sending a message to them that if they had

peace in the middle east, they could is actually have some productive land there, and i think they're going to listen to him on that. the one thing we want to do is find a lasting peace in the middle east: clearly, netanyahu yesterday thought he had a good idea, he was promoting it. once again, he is the president who is taking charge and sending a message that he wants to find a path forward. it may be a unique if approach, and we don't know what the end result's going to be, but most certainly he has caught the attention of the of the world. stuart: yeah. it's the only plan on the table. nobody if else has anything to do except for reversion to palestinians digging tunnels. anyway, let me move on. trump says he's in no hurry to talk with china's president, xi jinping, on tariffs. what do you want from china? >> right now we just know they're in an add very adversarial relationship with us. hay want to talk back taiwan. this is a case where they never had taiwan in the first place really, and yet here they are talking about a partner that we have there, and they continue to make threatening comments.

they want the control about a 60% of the trade area there in the south china sea. it's an area that we know that if you want to have free trade around the world, you can't have china asking other people to to pay homage to them. for us, yeah, we'd love to have peace with china, but they can't be stealing our copyrights, our patents and so forth expecting to have business as usual. i think president trump is in the right direction when he says, look, we've got a message for them, and that is if they want to come to the bargaining table with us, we're more than willing to do it, but we're going to have an understanding that things are going to have to change in this relationship. stuart: senate committees have cleared the path for confirmation of tulsi gabbard and and rfk jr. looks like mr. trump's going to get every nominee he wants, right? >> we have 11 down right now, another one we'll be confirming yet today to. so far i think the senate has given clear evidence that we're part of a winning team and that we want to be a part of a winning team moving forward. we want the president to put his group into place, and then e we want to to work together to

really make major changes in the way that washington with operates. we like the idea of cutting the federal government. we want to return a lot of the decision do making back to the states. i'm fully in favor of getting rid of the federal department of education, taking the critical programs and put them back where they were before, but literally returning a huge amount of the decision making back where it should be, to the states and local communities. stuart: it's a revolution really, isn't it? >> it is. stuart: senator mike if rounds, thanks for joining us. great to have you with us. >> thank you. stuart todd to, you're with me. everything in trump's administration is going full speed ahead including the nominations and all the a changes in government. what do you think of his, what is it, 16 days? revolution in. >> there is no time like the present to get things done. i love that expression. also, let's face it, for the better part of my if life, your life even -- [laughter] don't mean to make you sound ol- stuart: dug a hole right there. >> yeah, i'm going to to leave that. paralysis by analysis on the one hand if you're republican, and

paralysis is by bureaucracy by the democrats. that has a led to to nothing getting done in washington. excuse after excuse after excuse and at the end of the day, despite not getting anything done, somehow $36 trillion in debt. why not start today? we can't kick the can down the road anymore. stuart: bring on the revolution. all right, todd, i shall ignore that comment -- programming note, u.s. secretary scott bessent will join larry kudlow, 4:00 this afternoon, his first tv interview since joining the administration. right here, fox business. coming up, i have to admit my jaw dropped when trump proposed the takeover of gaza and rebuilding it into the riviera of the mideast. it may seem outlandishish, but at least trump has an idea. it's the only plan on the table. that's my take. senators josh hawley and bernie sanders steaming up, they want -- teaming up, they want to put a limit on credit card interest rates, something that trump campaigned on. that story is next.

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stuart: senators bernie sanders and josh hawley -- an odd couple, i'd say -- they're teaming up to the limit credit card interest rates. jeff flock joins us from tom's river, new jersey. okay, jeff, what's the rate they aim to cap rates at? >> reporter: i'm at the ocean

county mall, stuart, which is where i used to come as a kid. back then, of course, we didn't have credit cards, we had actual money. in the a whole lot of money but, yeah. the answer to your question, 10%, that's what the cap would be. right now that's less than half what most companies are charging. when you get a conservative republican and liberal democrat on the same page, you might be on to something. here's what bernie sanders had to say about this idea. he says america's being ripped off by the credit card companies when the institutions charge over 25% interest on credit cards. they are engaged in what he calls extortion and loansharking. the conservative republican from missouri, hawley, says america's drowning in iraq debt. issuers are -- credit card debt. issuers are getting are richer and richer. of t it's not just is wrong, it's exploitive. if you take the numbers from 2022, $105 billion paid in interest on credit cards. and people out there are getting fed up.

listen to this, stuart. >> it's really, really easy the get into -- to get into a financial hole, and it's hard to get out of it especially with the interest rates that are, like, crazy. like 29%. it should be, it should be illegal. >> the interest rates on credit cards are outrageous given that the banks are giving out no interest to people. so i think it's a great idea. >> i -- people do need their credit cards for bills and things are going up, and they have to probably use that to get by. so at least 10%, at least it's a start. >> reporter: unworkable, says the credit card industry. they say a 10% cap would actually harm the consumers that the policymakers are trying to help by limiting the types of credit that is available to millions of people and that they depend if on. maybe not such a bad idea to limit credit to some people. in q3 of 2024, stuart, we had $1.16 trillion can with a t

dollars on our credit cards. and it's worth noting as you noted earlier, president trump campaigned on this. he said 10% cap maybe not forever, but at least give people a break in the short term. of it's not a bad idea. stuart: we're going to leave it right there, and we're going to leave you many tom's river, new jersey. thank you, jeff flock. >> going to the mall. stuart: there you to go. todd, thanks for joining us for the hour. >> thank you for having me. stuart: still ahead, senator joni ernst deals with trump's announcement that the u.s. would like to take over or gaza. celebrity chef andrew gruel on trump meeting with governor gavin newsom today, and trump will sign an executive order to keep men out of women's sports. tomi lahren on that. question: is america new in full control of the border? if border cry, chris olivarez, will join us. i think he's going the say, yes, it is. the 10:00 hour is next.

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