stuart: queen and david bowie. very good. nice song. under pressure. i feel no pressure whatsoever. trump will hold the next meeting of his second term as you will be able to see it

live, the presidency of transparency, we will bring it to you as soon as it starts which i can't from ever seeing a full bone cabinet meeting on live television before but it will probably happen today. 11:00. let's get to the money. we have a little bit of green, dow up 100, nice gain for the nasdaq up 164 points, the 10 year treasury yield moving down below 4.5%, back to 430 as of right now, just a fraction in terms of basis points. the price of oil well below $70 a barrel, $68.93, $68.94. as as for bitcoin no recovery at all, looking $87,700 a coin. it is down. latest read on new home sales, just got the number. lauren: 670,000 on a seasonally adjusted annual pace, the lowest since october.

december was revised much higher to 734,000, that was all the optimism about lower interest rates right after the election. this is a 10. 5% decline from that december number, price meeting is 460,000. stuart: doesn't show much of a decline. now this. the president's political power was on full display last night, he knows how to code joel, threaten and flatter to get his way. house vote on the one big beautiful bill a classic example. a lot of people thought it could never pass because the democrats were united against it and the republicans had only a tiny majority. a couple dissenting gop members could sink the whole deal, the house called for a vote late afternoon and the gop started counting the yes votes, there

were four hold outs who were going to vote no so the vote was called off, then the president picked up his phone and started calling the holdouts, they could be seen on the floor of the house clutching their phones. they were very attentive. the president was calling, we know he promised to improve healthcare, we don't know if he made any threats. he knows how to play hardball after all. whatever he said was enough to change minds, those three holdouts decided to switch at the last minute. a vote was quickly called and one big beautiful bill passed. thomas massey was the lone republican to vote no, trump had job owned the trump's -- votes he needed, 4. $5 trillion cut from the budget, $2 trillion cut from future spending, the trump tax cuts extended. donald trump dominates the republican party, he knows how to use his power.

all right, deroy murdock joins me this morning, it is clear trump runs this party. obvious, isn't it? >> i was worried as this vote was coming down, to get through this margin and he was able to pull that off. the beauty of this, the senate is cautious, they didn't have any tax cuts in the bill they passed last week, they said they were doing it as backup in case, the house got attacked to gather and move on reconciliation and give the markets what they need, people are trying to decide should i purchase this or not this, we need to give them certainty, now not thanksgiving or christmas, this ought to be on the president's desk by easter if not sooner.

stuart: if you can move this through and trump moves at breakneck speed congress is behind him on this you can have this in place by april. >> in time for tax day, perfect time to do it. stuart: be good if he signed it. that would be perfect. we need the markets to take off and moving on even deeper with the golden age. stuart: i want to move on to another big event coming up in an hour. this is how white house press secretary karoline leavitt said about musk attending the cabinet meeting today. >> i spoke to the president about that before coming down here as well and elon considering he's working and considering he's working alongside the president and our cabinet secretaries, this entire administration will be in attendance tomorrow to talk about doga's efforts and all the cabinet secretaries

identifying waste, fraud and abuse at their agencies, we look forward to the meeting and i think you will be hearing from the president and his cabinet on campus tomorrow. stuart: we heard from the president on truth social, he says cabinet members are very happy with elon musk. what do you expect from a meeting? >> it will be televised. the transparency is amazing, we are seeing it in real time. there is a speedbump when elon musk wanted to send the 5 bullet points and cabinet members said not to do that. once they are in the room trump will express to them this is how we are coming together to have it coordinated. stuart: he' s going to lay down the law. musk won't be separated from trump on this. >> tremendous harmony. stuart: trump wants to offer gold card visas, $5 million each. watch this. >> we are going to be selling a

gold card. this is a gold card, $5 billion and it gives you green card privileges plus, it is a route to citizenship and wealthy people will be coming into our country by buying this card, they will be wealthy and successful and spending a lot of money and paying a lot of taxes and employing a lot of people. stuart: why not sell $500 million visas? >> we had illegal aliens coming across the border and we taxpayers are paying for luxury hotel rooms, now people coming and whoever vetted who coming legally and can build luxury hotels. i like that model better. stuart: thank you very much. back to the markets, the dow is up one hundred, look at the nasdaq, gain up one hundred 53 but points. let's bring in the superboole,

mike lee. i read your stuff. you say you are seeing amazing, your word, amazing earnings on the way for nvidia. this afternoon. what do you mean by amazing? >> this company is going to grow close to 50% for the next 2 or 3 years as far as i'm concerned. how the overall market reacts will be based on the guidance jensen weighing gives, are they sell outs for the next year or just the next two quarters. in that language lies the market. in the short term as well as nvidia stock. stuart: you think nvidia if you get amazing earnings, the stock goes up, right and that is what you are expecting. >> absolutely. the stock was higher in june last year than it is now and earnings and revenue are up

substantially and the company will do in excess of $200 billion in revenue, it will make $120-$130 billion a year so if you have earnings and revenue at a growth rate north of 30% and a forward-looking price to earnings multiple of 25, that is a cheap stock so there has been this pressure on the entire ai complex in recent weeks that i think will eventually alleviate itself hopefully after nvidia's earnings tonight. stuart: is big tech a bubble and is now bursting? >> i would say the notion of calling this a bubble is laughable. you take magnificent 7 stocks trading at 30, 35 times free cash flow on a forward-looking basis, at this same point in march of 2,000 the top ten stocks were trading at 65 times forward cash flow so you need

almost double of these stock prices for us to be at those type of the evaluations. i don't think it is close to a bubble. if you look at the fear greed index we are in extreme fear at the moment. when people are afraid of the market you are nowhere near the top. stuart: got it. thanks for joining us and hope you are right, thank you. really. i'm serious. programming note. "the claman countdown" interview with nvidia founder and ceo jensen weighing on with liz today, not today, tomorrow at 3:00 pm eastern here on fox business. you are looking at the movers, look at freeport mcnamara and. lauren: trump eyes tariffs on the middle for national defense. stuart: that we have into it. lauren: is tax season and they

have a strong tax forecast for this quarter on growing demand for the ai software they provide for tax preparers. stocks up 13%. stuart: letter entertainment, the british word for gamble. how about flood around this? lauren: i wonder who they own in the us? truest says they lead online sports betting and vote country and expect more legalization of online gambling in the next ten years so they initiated their coverage and the price target is $330. stuart: go to an english town or village, a bedding shop on high street you can go in, anything you like, the temperature tomorrow, anything, anything, just bet on it. of the book he is offering odds. >> crazy is that you ever made? lauren: stuart: i never do. one thing i do not do. thank you. still ahead. trump shuts down a reporter

worried about targeting. watch this. >> targeting an individual firm or individuals -- >> i was targeted for four years, longer than that, you don't tell me about targeting. stuart: he's got a point. we are on it. fireworks that yesterday's house oversight hearing. watch. >> people like the grifter in chief, trump and president musk are openly using their public offices to enrich themselves. >> point of order. point of older. hold on. stuart: don't call the president day grifter, that's the model there. the full exchange, house oversight chair james comber investigating the biden family business for more than two years. will pam bondi and the doj and kash patel bring some accountability to the biden family? that is next and trump's first

cabinet meeting will start in an hour with elon musk. he will be there. we bring it to you once it starts, you will see it on live tv, more varney after this. ♪

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stuart: markets are in the green, dollars up nearly 200, nasdaq up 209 points. tulsi gabbard says 100 intelligence officers may be fired because of chat messages. what was in the chat messages?

>> i knew you would ask. they are too. to talk about on this channel. donald trump's director of national intelligence taking action against these federal employees in the intelligence community over alleged ties to lascivious conversations on an internal message system, tulsi gabbard ordered those responsible fired and their security clearances revoked. more than 100 people are involved. >> their loyalty is not to america or the american people or the constitution. it is to themselves and these are the kind of people we need to root out, get rid of so that the patriots who do work in this area who are committed to our core mission can focus on that. >> the manhattan institute's christopher rufo exposed these, the national agency's platform showed a group of people

allegedly using it to discuss sexual fantasies under the guise of diversity, equity, and inclusion, a spokesman says they sent a memo directly to intelligence agencies to within to 5 those who participate in the obscene pornographic and sexually explicit chat rooms and terminate their employment and revoke their security clearances, deadline friday. >> i have people in the intelligence community reaching out to me saying that you need to know about this, look over here, people stepping forward because they are on board with the mission to clean house and refocus on the core mission of serving the american people. >> reporter: lawmakers on capitol hill i raised over the conduct of these individuals. stuart: thank you very much indeed. the chair of the house oversight committee, james

comber, you've been investigating the biden family business dealings for two years. what are the chances of holding them accountable despite biden pardoning his family members? >> i don't think the pardons would hold up in court. i would hate to be the attorney who would ha to argue how a president can legally pardon his entire family preemptively for an 11 year period. that is not going to fly anywhere. at the end of the day the ball is in pam bondi's court. we proved to the biden family took tens of millions from our adversaries around the world, joe biden lied about it, knew about it, he met with every single person even though he never met with any of them, the biden family never played a penny of taxes, there is a strong case for the department of justice if they choose to go there. stuart: do you know if donald trump is on board with suing the biden family?

>> that a question you will have to ask him. i support whatever decision donald trump makes. the american people realize the mainstream media was being dishonest when they were attacking our investigation and defending the bidens when joe biden pardoned his family there was an admission of guilt and an admission of a crime that i think is the biggest political scandal in our nation's history. stuart: we had this a few minutes ago. the oversight hearing yesterday turned fiery after you threatened to remove forcibly your democrat colleague, let's watch this again. >> willing to request unanimous consent to withdraw the disparaging comments about donald trump. >> i can say -- what i with with doubt -- >> it is despicable this

committee is going to silence me -- >> the gentle and's words have been taken down. for the rest of the hearing. >> making millions of dollars -- >> i'm going to have the sergeant at arm's remove him if he doesn't refrain. stuart: you didn't like him calling the president grifter in chief. >> it wasn't just about trump but about musk. at the end of the day it wasn't his time to speak. he was out of order and i kept gaveling him and he kept talking. we are not going to put up with that. all he wanted to talk about was trump and elon musk and it wasn't his turn. he knew what the rules were. the ranking member knew what the rules were and that is why he sat pretty quiet. i'm not going to tolerate it that in the committee and my message to trump was don't let the door hit you on the way out because we are trying to get

serious about working with elon musk and a dogeach will lemonade waste, fraud, and abuse. thanks for joining us. always appreciate it, come see us again soon. donald trump has stripped the security clearances of employees at a top dc law firm. what is this about? lauren: lawyers at a prominent dc firm, this is what it is about, free legal aid to jack smith, special counsel tapped to investigate trump's attempts to overturn the 2020 election and his keeping of classified documents at mar-a-lago. both cases have been dropped but a reporter asked about fears of retribution. listen for trump's response. >> targeting an individual firm or individuals -- >> i've been targeted for four years, longer than that so you don't tell me about targeting. i was the target of corrupt politicians for four years and

four years after that. lauren: he got the firsthand experience being dogged by criminal investigations from perceived enemies and trump said it clogs up the government. stuart: thank you. coming up daily show host jon stewart got so fired up he injured himself. >> we are ready paid for it with our subsidies! i will be going to the hospital. it is fine. stuart: we will tell you what it was about president biden that made stuart so upset. one federal worker explains why she supports elon musk and doghe. >> this is what you signed up for. if you don't like it. stuart: pretty strong stuff. charlie hurt is coming up next. trump's first cabinet meeting will start in half an hour.

we bring you to you once it starts and at cabinet meeting on live television, never seen that before coming up at 11:00. we will be back. ♪

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stuart: still plenty of the green, dow up 200, nasdaq up 181 and the s&p, 41 points. the top of the hour, donald trump holds his first cabinet meeting. elon musk will be there. edward, at the top of the show at 9:00 i said this cabinet meeting was going to be a showdown, donald trump got on truth social and the said everyone is getting along fine. what more do you know? >> the president commented on his next truth social post, clearly watching the show this morning, sure that elon musk will get a number of questions about his role in terms of streamlining, the office tasked with running.

a special employee with the government at this point not actually running doge, there's an administrator named amy gleason. she had worked in the past with digital service administration 2018-2021 where part of her job included response to the covid pandemic. she is an actual head of doghe, elon musk gets all the attention and provides the direction. >> many of these cabinet secretaries get advice and direction of doge, you saw kelly leffler demanding staff returned to the office. with the american taxpayer. >> reporter: the epa administrator said he found to billion dollars the administration sent to a climate organization where former democratic governor candidate stacy abrams, there's an investigation thanks to doge, donald trump says he likes his cabinet this time

around more than his first term. >> i had some great people, this is a deeper, i think it is better because it is deeper. i had some people i didn't like in my cabinet, but i didn't know washington. i was a new york person. i knew new york intimately. i had great people. >> reporter: going back to dogeither e-mail asking what five things employees did last week, 1 million responses to that. that is half of the government workforce. stuart: thanks very much. charlie hurt, what is the significance of musk attending that cabinet meeting and putting the whole thing on live tv? >> part of this radical

transparency we are seeing, it is good for the government and the american people, to be sure, there is some tension between doge and what i wouldn't say, driving towards the same important goal which is to make the government more efficient and route out all the waste, fraud, and abuse that it has destroyed the system too long. the tension is elon musk wants to go added with a chainsaw and a lot of department heads want to go at it with a scalpel especially once they get in and identify some good people in their agencies. we can see from the stories, but tulsi gabbard story about the intel officers or other agencies, finding there are people who work in these

agencies who believe in the mission of doge and want to help agency heads root it out and so i think that is where the tension the we see here, but what i love about this cabinet meeting with musk on hand is a reminder that donald trump wants dramatic action to take place. elon musk is his hitman when it comes to dramatic action on rooting out the waste, fraud, and abuse and returning the federal government to the taxpayers. stuart: bringing that chainsaw to the cabinet meeting to make a point, wouldn't be surprised at that. >> it would be the third most surprising thing to see. stuart: the third most surprising thing, trying to keep track, what's the first two.

>> i can't even remember at this point. the third most amazing thing in the 11:00 hour. a federal worker, the breakfast club. listen to what she has to say about elon musk's doge. >> this is a great opportunity to outline what you as an employee bring to the federal government. at the end of the week, this is what you signed up for. if you don't like it, resign. find another job, not that hard. you are complaining about actually working. stuart: i wasn't expecting to hear that from a federal worker, that was straightforward and plain cut.

has musk been a big success overall so far? >> i think what we have seen so far has been a massive success because it identifies federal workers like that who are there for the right reason and want to get things done and separates her from all the chaff in the federal government that not only are they not doing what they are supposed to be doing, not delivering anything of value but actually hurting us as a country, not that they don't do good but doing bad for us and they come up with red tape and things that are a drain on the country and by having doghere, having elon musk installed to do this highlights all these problems. not only is it great government to do all this but it is a

massive political winner. nobody, nobody can defend this stuff and nor should they but it is the exposure, radical transparency that exposes it all and reveals what we conservatives said for a long time which is the federal government is out of control, no longer answerable to the taxpayer. stuart: 25 minutes we will see the cabinet meeting. i guess you will be watching. news of real change, jeff bezos announced changes to the washington post. the editorial -- lauren: jeff bezos says the editorial pages will be guided by two printable only, free markets and personal freedoms. he says you can get others points of view elsewhere but not on my editorial pages. he said the opinions editor is

out, the moral is anti-freedom slant is bad for business. i pulled this data, the post drew about 3 million daily users last summer, 22 million when biden took office in january of 2020 one. huge decline. other changes in the media too but that's an editorial slant. stuart: stunning one. ashley, good morning to you. i need you to tell me about jon stewart cutting his hand open during his show. tell me more. ashley: nothing to do with donald trump. he smashed the mug on his desk ranting about joe biden's promise to reduce the price of ten prescription drugs. >> the companies we subsidize with billions of dollars are allowing us the privilege to negotiate the price of ten of

their drugs, ten is all of them. it would be embarrassing if it was a small drop in the bucket and the american people didn't expect that we should negotiate for all the drugs because we have already paid for them with our subsidies! i'm going to the hospital. it is fine. ashley: just a flesh wound. the message on the mug that stewart smashed red, world's most dad. that's a clear -- i digress. stewart advertised the episode on social media promise he would be a bloodied good one. emphasis on on the bloodied, he wrote. leave you right there. stuart: interesting television. i bet the ratings are good. still ahead. one company is putting miniature nuclear power plants in the back of trucks. we talk to the guy who runs that company. is it safe?

that is next. trump's first cabinet meeting starts soon. we bring it live once it starts. more varney after this. ♪

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♪ stuart: looking at that. all the homebuilders are down. lauren: we got the report on new-home sales. they tumbled in january, high mortgage rates keeping buyers on the sideline at the top of the year. stuart: no wonder homebuilders are down. ali baba. lauren: two pieces of news, they are upgraded to a buy on optimism for artificial intelligence and ali baba also said they have a new text to video ai model, they will be open sourced which means other

people can download and modify them. stuart: workday, software company. lauren: they use a lot of artificial intelligence, they reported 15% revenue growth and the ceo says customers are asking for ai products. stuart: i want to show you a miniature nuclear power plant that sits in the back of a truck. it is right there, left-hand side of the screen, james walker runs the company that makes it, nano nuclear energy and james joins me on the set in new york city. that a nuclear power plant in the back of a truck. >> will be the smallest system of its kind, it can go anywhere in the world. stuart: obvious question. is it safe? >> nuclear power is the safest form of energy man has ever devised but this is still safe. we went could it melt down? >> it is impossible.

the old systems, the biggest catastrophe possible was the meltdown system but these are built with different cooling, different fuels and they can't melt down. stuart: are these are the nuclear reactors you find on nuclear subs? >> there's a difference in enrichment and in terms of size and scale of these things, they are very similar dimensions. stuart: what would you use them for? you can drive them anywhere? data centers? >> small ones on the back of a truck, oil and gas, disaster relief, remote habitation, remote in the story, a bigger system could be used for data centers, tech centers and chemical plants. stuart: you just drive the thing, plug it in and got juice wherever you want it? >> no carbon emissions. it could be a very transformed of technology, could bring power to billions across the world. stuart: what you are really

involved in is the building back of america's nuclear industry. it has been run down. >> that is one of the quickly issues facing us, the us is re-industrializing and it will need power. the doe putting billions into rebuilding infrastructure and we will be part of that. stuart: you are in talks with the energy department. >> yes. we partner with enrichment company, we were the recipient of one put out by the department of energy to help rebuild this. stuart: you are one of the top ipos as i recall. >> we read the top. stuart: look what you are doing, up 11%. >> maybe it is the show. stuart: got to make a last point. they are not in service yet. >> part of that is related to the infrastructure components.

time to deployment of these systems will be longer because we need to build back to enrich and all that for aspects in the fuel supply project. stuart: james walker, fascinating. thanks for joining us. in 15 minutes, elon musk attends donald trump's first full cabinet meeting. we bring it to you live at the top of the our. measles in west texas, the first death reported by doctor siegel on the latest outbreak on the dangers thereof. ♪ oh yeah. consolidate bad debt and save money for your next goal. sofi personal loans. low, fixed rates. borrow up to $100k. no fees required. only the servicenow platform connects every corner of your business, putting ai to work for people.

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stuart: the dow jones average is up 221 points. plenty of green on the market, a lot of selling recently. border agents, more of what are reversed migrations. william la jeuness joins us. what is reverse migration? >> reporter: instead of millions migrating to the us as they did under president biden many migrants are now turning back midstream as trump policies don't justify the risk

or the investment continuing. >> translator: if we have to pay for a flight we pay for it. we don't care but many people are coming back. >> reporter: rodriguez made from venezuela to mexico but failed to enter the us illegally. now she is turning back. >> translator: i wanted to arrive in the united states to have a better life but i couldn't. >> reporter: these migrants from south america are giving up, hiring boats in panama and heading home. michael banks says reverse migration is happening throughout central america including honduras. >> the first two weeks of february, they witnessed 500 migrants turning back south. >> reporter: seeing images like this, the end of catch and release, ice arrests, checkpoints on the interstate, thousands deported by air, many migrants are leaving mexico by bus. >> had a shirt and a jacket,

here for the last two days. >> reporter: this area in san diego last year was overwhelmed by migrants. today it is empty. >> 95% decrease in traffic. >> reporter: that means the pipeline is drying up at least for now. >> reporter: no more catch and release, you're going to be apprehended and returned to your country and that's spreading like wildfire on social media. >> reporter: the risk/reboard isn't there. you are not getting the asylum or the work permit. how long does it last? we don't know. shelters in mexico and the pipeline. stuart: thank you very much. 124 confirmed cases of measles reported in texas. one person has died, 18 hospitalized. most of the cases are in children age 5 to 17. doctor marc siegel joins us now.

is this, this is happening because of lack of vaccination, is that right? >> no question about that. 15% to 20% of children in that area are taking an exemption for at least one childhood vaccine, most of them measles. this is a rural area, farming area. we are seeing less, 90 one% rate across texas but keep in mind, you need 95% compliance with the measles vaccine to prevent spread. the way we were doing since 2,000 but this is the worst outbreak in texas in 30 years and it is not slowing. 18 in the hospital, one death tragically. i suspect that is pneumonia because 1/20 measles cases get pneumonia, 1/5 to 10 end up in the hospital. this is not the benign disease may be we thought it was when

we were kids. most kids get better but not all. stuart: how does it spread so easily? is airborne? >> it is airborne and it is the most contagious airborne virus on the planet, way more contagious a van covid, way more contagious than the flu, you walk into a room where somebody had measles two hours before, you don't know it because they could spread it without knowing it, takes a week or two after exposure before you get sick. if you walk into that room and no one is even there it is a 90% chance you are going to get it if unvaccinated. that vaccine is very effective. it gives you almost 100% protection. without it, if you are exposed to measles you are very likely to get it. it is spread across new mexico and nine counties of texas mostly rural areas and a lot of exemptions going on in texas, new laws for more exemptions.

stuart: some form of quarantine required here? >> great question. the answer is yes. quarantine not to whole regions but somebody that think they have been exposed should not be circulating. that is how it is spreading through convenience stores, schools, if you think you've been exposed, that is the time to stay home, quarantining whole regions won't be the answer. stuart: doctor siegel, do it. stuart: donald trump holds his first cabinet meeting, elon musk will be in attendance.

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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. stuart: all right. it is 11:00're in new york city. along the eastern sea board and wednesday, february 26th. in a matter of moments, president trump holding first cabinet meeting of the second term and elon musk will be there. trump said his cabinet is happy with musk and see it all live once it starts. there's been a selling recently and dow up nearly 200 and nasdaq up 220oi