tv Varney Company FOX Business February 18, 2025 10:00am-11:00am EST
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♪ new york new york ♪ stuart: perhaps not today. it is freezing cold and you can tell not many people on the streets. they are bundled up. good morning, every one, 10:00 eastern. the money, the dow is down one hundred 40 points, s&p and nasdaq up very slightly, a couple dow stocks down sharply to account for that 144 point loss, the yield on the 10 year treasury sticking close to 4.5%, the price of oil still down around 70, $71 a barrel in bitcoin no recovery there, $95,455 a coin. we got the latest read on homebuilder sentiment. what's that number? ashley: not as good as expected. we expected a number of 47 which would have held steady from january but february comes into 42.
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this is a widely followed gauge of homebuilder sentiment. the latest number is a 5 month low. sentiment among homebuilders souring a little bit this month. stuart: why am i not surprised. thank you very much. now this. to say that new york city is in crisis is an understatement, truth is the government of this city is close to collapse. this morning new york governor kathy hochul holds an emergency meeting on whether to remove mayor adams from office, the collapse has come a long way. the justice department dropped a corruption case after adams agreed to help with deportations, the president famously transactional and the deal was simple, you are off the hook if you help get criminal migrants out of the city. a deal. federal prosecutors in new york and washington redesigned, they want nothing to do with it, refused to drop the charges and now four deputy mayors are leaving as well.
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earlier, corruption charges ended the careers of two police commissioners and the spring chancellor, city hall has lost the authority to run this city. of governor hochul removes the mayor, the job goes to giovanni williams, an activist democratic socialists, that is what we need. the lesson is democrat run big cities simply can't go on like this. they are clearly claim going to essential where status even though it is running them financially, schools in shambles, police forces are short thousands of officers, troubled people roam the streets. it is a picture of collapse. one of the attendees of governor hochul's meeting is our sharpton. he blames trump for the city's troubles. there in a nutshell is the problem. democrats are deliberately ignoring their own role in the ruin of our once great cities, trump has been in office for four weeks and one day and it is all his fault? that's nonsense, second hour of
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varney just getting started. jason chaffetz joining me this morning. the city is not going to recover in the short term, is it? >> i think they will go further, with progressive policies that will make the city far worse. crime will go up. the economy will suffer. i think big business and wealthy individuals who create jobs willfully. they've been fleeing already. and then they blame donald trump, donald trump was there and to building of that city and building buildings and solving the city's problems, when they couldn't build the ice rink, he got it done in a few months, donald trump knew how to build that city. it has got to slay him because that's his home, that's where he grew up and to see them destroy the city the way they
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have i think probably is something very personal for him. for them to blame him come on. stuart: i know it is a stretch but can you see the time coming when new york city votes in a republican mayor, can you see it? >> i think things will bottom out. i thought they already had. walking through times square in midtown is abysmal. each of the boroughs is on the verge of collapse, parents have had enough, they are overrun by illegal immigration and sometimes the collapse will happen and bring in somebody who's more reasonable. it helped usher in rudy giuliani who turned the city around back in the day and at some point they are going to want somebody like lee zeldin who ran for governor and came pretty close but they aren't there yet. stuart: another one for you. doge-mail have access to critical irs systems, social security records and treasury payments.
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of musk doesn't get access to all that data, how do we know what our money is being spent on? >> already north of one hundred thousand people given access so it's pretty rich for the democrats to be able to say elon musk, an engineer, an internal auditor that is handpicked by the president of the united states, this is exactly what america wants, they are uncovering so much waste, fraud, and abuse and when they turned that to the pam bodys of the world to start prosecuting people i think they are really going to come unglued. we want the top official at the social security administration has reportedly resigned after a dispute with doge, a kind of protest movements going on here. >> she did the right thing. if she's not going to be part of the solution she's going to be part of the problem, she should have resigned, to have that type of thing happen under
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her watch is just, she was the acting person but still had the type of experience, she did the right thing and we will see what role if any she had in this mess that is over there at social security. stuart: they don't want musk to have access to this information it makes you think why don't they want him to have access, what are they covering up, that's the way i look at and a lot of other people too. >> goes oversight.gov you will see literally tens of thousands of open audits that have identified billions of dollars that have not been resolved and donald trump will take a more drastic, more dramatic approach to this. if you can parallel park a rocket, you're going to get the keys to do some other things in this country, nobody knows how to do that. stuart: we will see you again soon.
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appreciate it. the world's richest man unveiled the latest model from his ai startup called grok 3. i do not understand it but ashley is here to explain it all. at all. tell me about it. ashley: oh boy. it can parallel park i am pretty sure. grok 3 reportedly has 100,000 h one hundred gpus, very impressive. no idea what that means but i can tell you it is ten times the processing the power of grok 2. the new model can simulate diverse real-world scenarios while reducing biases and hallucinations. i think i'm having one now. take a listen. >> the mission of x ai and grok is to understand the nature of the universe so it can figure out what's going on, where the aliens, what's the meaning of life, from the mental questions, we are driven by curiosity about the nature of
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the universe and that is what causes us to be a maximally truth seeking ai even if that truth is sometimes at odds with what is politically correct. ashley: the meaning of life, whatever, musk because at the smartest ai on earth saying it has powerful reasoning capabilities and in tests it outperforms anything that has been released so far. very humble. stuart: a fascinating soundbite i've got to say. we should run it again. one more thing, turn to the markets, looking at the movers, let's start with hyundai. ashley: the automaker down today 3.5% on reported is open to restarting talks with nissan. those talks fell through earlier this month, honda says it will come back to the table if nissan's ceo steps aside.
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that is what they want. let's look at wind resource, got an upgrade, price target hike from jeffrey's up one. 3%. analysts, the by, going to $118, it at $90 right now. it sees a few positive catalysts including development in the united arab emirates and a recovery in macau. adele rising on reports of a deal to provide ai service for elon musk's x ai which unveiled their latest, late last night, the announcement was dell getting a boost from a successful debut. so grok 3, i'm fascinated. stuart: desperately trying to understand it. we've heard of trump
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derangement syndrome but what about doge derangement. >> are you steube -- like trump derangement syndrome. you don't realize how real this is until you can't reason with people. stuart: elon musk opening up about backlash from democrats saving taxpayer money, upsets them. a lot more on that. transportation secretary sean duffy, just slammed buttigieg for mismanaging the agency. we bring you his charged explanation. the meeting we waited three years to see. the us in peace talks with russia over ukraine. we will tell you what a deal could look like next. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's
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forty's going to be my year. stuart: split decision on the market, the dow is down 130, mild gains for the s&p and nasdaq. all of them are up except for harris technologies. the rest are higher as us and russia meet for talks on the ukraine war. defense stocks up. is real will be having negotiations on the second phase of the gaza cease-fire deal. what the second phase might look like. >> the key thing to think about when talking phase 2 of the hostage deal as hostages. all of them dead and alive should be released under this phase of the agreement but there's a lot of steps.
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even though end of phase one of the agreement between israel and hamas is producing. all the remaining hostages to be released, six will be freed on saturday. a very busy day. the remains of the hostages will be handed over by hamas to israel on thursday. no official word on identities but it could be a very emotional day. hamas getting a few deliverables for that like bulldozers, trailers, tents in the devastated gaza strip and more concessions when it comes to palestinian prisoner releases by israel. the deadline for israeli troops to pull back as part of the cease-fire agreement, beaten down, hezbollah just to be sure, the idf saying it is a presence inside lebanon at five locations.
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it's the beating down of a raining proxy like hamas that caught the attention of senator lindsey graham. it was here on a congressional delegation visit. he told us iran's nukes hacked next. >> i talked to everybody from all sectors of the political spectrum. they believe iran is trying to acquire a nuclear weapon and use it against israel. i agree with that and time is not on our side. >> reporter: graham and others feel that hamas has to be finished, phase 2 of the cease-fire deal will aim to do that and also aim at bringing the israeli military presence outside gaza. talks will start later this week in cairo. they are behind schedule and will be tough ones. stuart: early this morning, marco rubio met with russia's
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foreign minister to discuss peace in ukraine. the two sides are looking at a 3 stage plan. a cease-fire, election the ukraine, than the signing of the final agreement. the peace process appears to have started without the europeans or ukrainians. is that the best way to get a deal done? >> you are partly right. of the europeans have been involved from the very beginning and lots of discussions taking place. various configurations of european powers but in the last couple years as well and they haven't gotten very far. donald trump hasn't been in office for 30 days and there is intense discussion about endings this war. he campaigned on it, he did not lie, he said this would be one of the first things i attempt to achieve and he's working on it, he never said the europeans
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won't have a role, the ukrainians won't have a role but he is starting with the aggressor and that is russia. he's trying to figure out a way to bring russia out of global isolation because that is critical to ending this war. these negotiations or discussions are essential but paving the way for a broader set of negotiations with more stakeholders including ukraine and russian allies. stuart: are the europeans out of the saudi arabia peace talks? there appears to be a split between the us and nato. is that alliance american and nato beginning to fray? are we moving apart? >> this discussion happened in 2017 during trump's first term,
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with nato partners to pay more. there are more nato partners and paying good more. i don't think nato is fraying, it's a mature security alliance which means it has issues and differences it didn't have 30 years ago. it has to take a reboot and reassess where it is. if the notion would go away, or the us is pulling out of nato isn't the central discussion right now. the issue is how to be productive without the us always being in the military, without the us paying most of the bills so this is an important moment because the nato partners and others in europe our understanding very
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clearly that trump means business, needs them to step up for not just one event but a new normal and that is what he's attempting to establish. stuart: let me pick up on that, do you think we are looking stronger on the world stage? >> very tough question because in a way yes. the fact that we are trying to negotiate the end of two grinding wars, one in the middle east and one in europe simultaneously with the saudis at the center of both shows a level of creative genius from the white house but at the same time the munich security conference with a tough moment for our key allies in europe to hear lecture from the vice president about free speech, to
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hear pete hegseth talk about nato and ukraine war in ways that many of our allies weren't prepared for. i don't think it makes us look weak so much but it shows we are trying to find our way with a set of new principles and the foreign policy community in this administration and that is okay. stuart: don't be such a stranger. >> i hope to, good to be with you. stuart: see you soon. former white house press secretary jen psaki is annoyed with the democrats. >> what drives me crazy is the way democrats talk, drives me insane, like we are in a phd thesis on political academia. stuart: she admitted that way of speaking isn't how you win elections. lisa boothe has a lot to say.
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stuart: markets split, all right, dow is down 100, nasdaq 37, nasdaq opened with again of 100 points, mostly read on the left-hand side of the screen. start with united rentals. ashley: yes. the equipment rental company falling down 3. 5% after being outbid for a takeover of hd quicken, rival hurt rentals coming in with a $5.3 billion offer but it hurt a lot more on that acquisition
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more than united rentals down more than 12.5%. look at the chinese company, the ai player taking it on the chin after fourth-quarter earnings, they posted strong gains in their ai and cloud units but those gains offset by a weak performance in ad sales for stock down 8%. this coming at us from craft hines, the food group, reportedly looking to offload its baby food brand back in 2019 but ended up keeping it after failing to be wow by any offers. stuart: thanks. a mainstream news correspondent is blaming donald trump after a delta plane crash landed upside down in toronto. how on earth could this be trump's fall? >> reporter: it might fit with
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the saying never let a good crisis go to waste. some in the media trying to tie the toronto tragedy to the trump administration despite the fact canadian airspace is not controlled by the faa or faa employees. a safety official called the accusation ludicrous. >> from what i see at this point they have 0 to do with this accident. it's not a matter of staffing, nothing to do with this. >> reporter: this as plane crashes are at the center of political attacks on trump and a doge-commerce senator maria cantwell blasted the decision to fire faa employee saying the faa is already short of technicians and these firings inject unnecessary risk into the airspace in the aftermath of four deadly crashes last month. democrat congressman eric swallwell saying, quote, the president has had more plane
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crashes in the first month in office than donald trump. former transportation secretary pete buttigieg questioned the safety of the firings demanding who was left go and fry -- why. sean duffy said 400 were fires all were probationary, did not include air traffic controllers. duffy criticized his predecessor saying get buttigieg failed to address the air traffic controller shortage and the updated system. stuart: thanks very much. i want to bring in lisa boothe. in your opinion what share of the blame for the mess at faa does buttigieg deserve? >> reporter: we are figuring out everything that happened. too early to say. we know there was gross mismanagement under the previous administration and buttigieg was a dei higher, the biden administered and went to
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the headline the first openly gay cabinet member, that is why he was chosen. even as mayor of south bend, south bend, indiana was known to have one of the worst potholed problems in the state and this is a guy with a global supply chain crisis under his watch including parents could not get baby food formula, a major train derailment, all planes for the first time since 9/11, that was focused on all the wrong things like dei or the pilot for the racial problems and roads as opposed to fixing things and trying to be efficient. if you are secretary sean duffy you are walking in having to fix the problems of the past administration and bringing us to an era of the future, antiquated systems, in modern society we are living in.
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stuart: on a similar note, top walmart shareholders sent the company a letter saying rollback dei, the democrats are urging them to keep going with dei. is this their last stand for this kind of development? >> americans rejected this, it is not politically expedient. why are democrats focused on this issue? going back to president obama was fixated on dei. it failed, they lost elections as a result, when obama left office 54% of americans fought race relations had gotten worse. the previous administration, president biden lost black voters, his share decreased. as well as minority voters, trump's share of the vote increased with those voters,
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they did this for political reasons. what the trump administration is doing, things working, adequate service. being the best country, excellence, that's the focus again of a merit-based society. stuart: it made a big difference. msnbc's jen psaki slamming democrats for their messaging. >> what drives me crazy is the way democrats talk, drives me insane, we are now phd thesis, which is not how you win elections. >> democrats, we want people to know we are smart, and issue the thesis, comes across in all only a self enclosed conversation but are medically dismissive of them, the audience. we are talking to ourselves about how important and smart we are rather than how to make sure they understand.
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stuart: are long thought democrats looked down on the rest of us, they are so smart and we are so dumb. >> they don't have a messaging problem. they have an insanity problem and she is the main driver of that. what did she advise democrats after they got spanked by donald trump, what did she advise them? continue pushing for men in women's sports which is an issue 80% of americans disagree with her on, disagree with her and the democrat party on. she wants them to take a position of 20% america which is why they lost the election was one of the most impactful ads the trump campaign ran across the country, and the ad that kamala harris, i am for you highlighting your support and taxpayer funding for transgender surgeries for inmates.
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she wants the pad on the bat at harvard, yale and hollywood and not 80% of the country. i don't know who she thinks she is advising democratic party when all her advice has been wrong and she's been wrong. stuart: they don't have a new message, they don't have a leader, they don't have a new leader, i don't see where they are going here. >> they have to figure it out. we are seeing a party that is lost, look at the and rtc election, the year prior to 2,009, time magazine so the republican party was extinct and we went on to win 63 seats in the house in the 2010 election cycle. elections tend to be to be a pendulum that swings back and forth but right now we are seeing a party struggling to find its footing and embracing the insanity of 20% of americans including wanting men to play in women's sports and set donald trump for the
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photooptical surrounded by young girls protecting women in women's sports. stuart: that was a powerful image. james carville has a message for democrats about identity politics. watch. >> the most racist thing that i hear is people say communities of color, people of color, that assumes everybody not white is the same. stuart: we will ask guy benson to start shifting their strategy. trump versus electric trucking mandates. how his administration is working to keep his campaign promise to end the mandates. we deal with that next. ♪ ♪
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stuart: checking out the market, the dow is down 55 points, nasdaq is down 24. three dow stocks taking energy out of the dow, united health dropping the dow by 88 points, home depot 27, mcdonald's 25, adds that up. the runoff for those stocks would be in the green. the trump administration wants congress to overturn an electric vehicle mandate that could cripple the trucking industry. from a truck stop in north bend, washington. what do they think of that? >> reporter: they've got whiplash because of the change from the biden administration and relief because
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manufacturers couldn't meet these mandates, truckers couldn't meet the mandates and nobody wants to purchase them. candidate donald trump, after trucks and vehicles, he is making good on that promise. on friday, epa administrator leigh zeldin announced the epa would transmit to congress the biden administration's rules granting waivers that allow california to preempt federal car and truck standards. these mandates got their start at the california resources board, then petitioned the epa to get a waiver under the clean air act to impose tougher standards than federal law as a way to cut greenhouse gas emissions but it doesn't stop there. other states could adopt the same mandate and so far 11 have approved the vast clean trump policy which has the potential to cripple the trucking industry. companies that build large trucks will not sell diesel trucks in their 11 states because they are mandated to
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sell some electric trucks and no one is buying electric for a lot of reasons. >> you will need more trucks, more drivers which we don't have and pay literally 3.5 times more for that equipment if it is available. this is a failure out of the gate. >> he would need special truck charging stations across the us and it takes several charges to go around 200 miles whereas trucks go 1200 miles on diesel tanks. truck dealerships in those states cannot pay sales reps. >> it will be a challenge moving ahead because there is no revenue to pay those. >> reporter: it is expected the republican-led congress will reject those ev mandates and
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that will leave the end of it and we will see what happens in the coming weeks but it's both in front of congress, they've got to say yes or no to the mandates. if they say no they go away. stuart: dan springer, thanks very much. protesters gathered outside some tesla dealerships. what were they protesting? madison:they said we don't like it one bit, they will continue to protest all week long. that is the plan. democratic activists planning this protests asking members to go in front of tesla dealerships, they don't want this kind of traffic cortez low wants people buying not protesting. this is being run by indivisible, a progressive group trying to fight back against musk's rise to trump's top official and his handling of the federal cuts, his access to information in the federal government, indivisible has more than 100,300 local chapters across the country.
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this is a big organization. they advise protesters to remain peaceful and stay on the sidewalk. when i cover these protests it is intimidating, you don't want to enter that area. it is bad business for tesla. you can imagine folks coming into try to purchase will wait another day or there could be an impact. stuart: the story i am interested in, tonight, sean hannity's interview with donald trump and elon musk to gather. what did musk say about trump derangement syndrome? madison:he says he was once sick with it and people who still suffer from it do so irrationally. a little preview so show the audience. take a look. >> i would love the fact that you have the biggest electric vehicle company in the world. >> i used to be a door prize.
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it was called trump derangement syndrome. you don't realize how real this is until you can't reason with people. i was at a friend's birthday party, someone got shot in is out with a jugular that contains methamphetamine and rabies. you can't have a conversation. it is like they become irrational. madison:incredibly entertaining but that makes their relationship so special. when you talk about elon musk, he comes from tech in california, two worlds that have been so anti-trump, so infused with trump derangement syndrome if you will. to become one of the president's biggest allies, a true turnaround. stuart: the best soundbite of the day i do believe. coming up, doge wants access to
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irs data, social security records and the treasury payment system. my sense is voters want to know where their money is going and elon musk is the guy to find out. could new york city mayor eric adams soon be out of a job? governor kathy hochul is holding an emergency meeting today to discuss his future. brian kilmeade is all over the story and his next. e research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management
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ashley: it is 10:51, kilmeade time. governor hochul holding a meeting about mayor eric adams's future. adams says he is not stepping down. >> i'm going nowhere. i have a mission to finish. the most center firing among us. are calling for me to step down. i am not going to step down. i'm going to step up. stuart: big picture. the city's government is on the verge of collapse. >> reporter: if people are
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living paycheck to paycheck, all of a sudden you're at a deficit because this governor thought green energy is the future, let's penalize fossil fuel companies and they turn around and put it back to the customer so everyone is paying more. to cut money from artistic kids but now i have to get rid of the mayor. he was indicted months ago. why the urgency now? was it because he has a burgeoning relationship with the president of the united states, conversation with tom homan, to get illegal immigrants, criminals out of the city, that's the breaking point for an emergency meeting in manhattan that includes our sharpton. democratic governor getting rid of a democratic mayor in new york city, first time in 235 years we have to do this, it is all about the trump relationship.
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stuart: if governor hochul does remove eric adams from the mayor's office, he will be replaced by johnny williams, an activist and self-described democratic socialist. what is with that? brian: want to defund the police, couldn't get anyone more left-wing, more tone deaf where america is right now. somebody more to the left in chicago, 18% approval rating, brandi johnson and in new york city, someone with the highest approval rating in scandal because his party turned on him but guess what, governor hochul, you get rid of mayor adams you have your nemesis, someone who gave you the break of a lifetime but turned on you and you turned on him, governor cuomo who wants to be mayor cuomo, 15 point lead on everyone including the mayor. she moves eric adams out. williams will get trounced by mayor cornwall if he runs, he will win.
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there is little options for her. try to do a good job for the people of new york. don't be an ideologue. he won by four points last time. you have a congressman from new york giving you a hard time in mike lawler he will be running on the right, pressure from all sides with the one thing that changed, can't get along with donald trump. that's the message. you can go to kathy hochul and congestion pricing, start taking that away. in my justice department officials, see what you can get done without me. they've been amicable so far but elyse stefanik, open until september, how long will trump take that. and other new yorkers.
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stuart: what do you think of the chances of that in my lifetime there will be a new york state government run by republicans? brian: an excellent chance. as trump started to make inroads in new york and the boroughs he will move into manhattan and i work around new york city, i see these red hats everywhere. i would see one every millennial, every haley's comment. now i see them every block. that's the inroad in new york city to win the state because the state belongs to republicans. upstate new york anyway. stuart: brian kilmeade, thanks. still ahead, guy benson on james carville accusing democrats of treating all minorities the same. kansas senator roger marshall on trump using reciprocal tariffs as a negotiating tool
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