tv Varney Company FOX Business March 7, 2025 9:00am-10:00am EST
9:00 am
miles south of the cape, and we watch those rockets go up day after day, sometimes two in one day, and the boosters land on themselves, and i feel like a chimpanzee watching the first airline flights. i know this is the beginning of something massive. of it's just amazing what they've pulled off at spacex. everyone else can't get one rocket to work, and they get them to work day after day after a day climbing clockwork. maria: another reason the innovation in america is so great, and jobs will be connected to that, joni. >> that's what i was thinking, maria. think of the job opportunities that will come from this. maria: exactly. all right -- >> we need more people going into the s.t.e.m. fields. that's' where the jobs will be at. maria: we've got to jump. great panel, everybody. so appreciate it. don't miss my exclusive interview with president trump on "sunday morning futures" sunday on fox news, 10 a.m. eastern live, join us. have a great weekend, everybody. "varney & company" picks it up now. stay with fox business with with. stu, take it away. stuart: good morning, maria.
9:01 am
good morning, everyone. it's the first jobs report of president trump's second term. kind of backward-looking because these numbers are for february. 151,000 jobs added last month. that's a little less than expected. the unemployment rate went up slightly to 4.1%. i'm taking this as a sign that the economy is ever so gradually slowing. here's the market reaction. member remember, we're in a volatile period. thursday, stocks sold off. premarket today stocks are on the downside again, a loss of about 100 points for the dow, minor losses for the s&p and the nasdaq. look at a bitcoin. i'm looking at a 89,300, that's the current price. the crypto summit begins today at the white house. top people in the business are meeting the president to discuss crypto taxation policies and which cryptos will be part of the strategic reserve. the meeting is considered a coming of age for the industry. politics. trump streamlined the doge program. cabinet members will go first
9:02 am
with job cuts in their departments rather than waiting for direction from elon musk. he's not reining in elon, he's making the department of government efficiency more efficient. tariffs on canada may have been suspended for a month, but the trade fight is getting nasty. scott bessent called prime minister trudeau a numbskull. a 25% tariff on electricity flowing to the united states, that would hurt. a tough night for elon and for florida as spacex rocket explodes in the sky. the falling debris was a threat to airports in the miami area. it was the second spacex setback since january. california governor gavin newsom does a 180 on trans in sports after a biological male won the girls' triple jump to be the california girls' champion in that event. newsom called that win deeply unfair. but he wants to be president,
9:03 am
what else can he pivot on? climate? the border? sanctuary? stay tuned. watch this, choosing a fighter. the democrats' latest video to bring back voters, and wait until you see the white house response. they did a video of their own. friday, march 7th, to -- 2025. "varney & company" is about to begin. ♪ ♪ stuart: that's a perfect song, isn't it, to usher in our next guest. get a job from the silhouettes. kevin hassett joining us this morning. kevin, the economy seems to be slowing. do these labor -- these job report numbers confirm that it is, in fact, slowing just a little? >> no, i actually think it was a
9:04 am
fanst take -- fantastic jobs report, and i think the market's underestimating how good because what you're already seeing is the impacts. granted,there are a lot of policies that -- the impact of president trump's vision and his policies. government employment went down quite a bit, by 7,000 workers. meanwhile, manufacturing jobs went up 10,000 including 9,000 increase in autoworkers. and to put that in perspective, last year alone under the biden administration, we lost 108,000 manufacturing jobs. stu, i know you follow all the numbers, but if you look at ism and everything, you can see what's going on is people are onshoring jobs into the u.s. because of president trump's favorable tax policies, regulatory policies and trade policy. and this sign of the big increase in auto jobs is really the first glimpse of how big the golden age is going to be. i thought it was a fantastic report. there were other factor, small factors that made it so that i thought the number was going to be a lot lore than that.
9:05 am
it was a bad flu month, so a lot of people weren't applying for jobs, and despite that we got a strong number, so i was very, very pleased with the number today. stuart: the on-again/off-again tariffs do bring some uncertainty to the economy. a lot of people think we're heading for a she -- recession. we're not, are we? >> no, we're not. also, don't forget, stu, as you know, the tariffs that are in place with canada and mexico are there because we're fighting a drug war. and during the drug war negotiations, we've gotten quite a lot of movement from canada and from mexico in part of the negotiation to get them to tighten up things and make it harder for fentanyl to ship into the u.s. during the negotiation, sometimes terms will change because we're make progress. so i don't view it as some kind of confusing, uncertain tariff thing. i think we're seeing a negotiation that's very orderly, and the trump administration is saving lives with this negotiation, and that's why the parameters are changing.
9:06 am
stuart: some of the repartee is getting nasty. scott bessent, treasury secretary, calls trudeau a numbskull. i'm sure you saw that. both sides seem to be digging in their heels. this could be a long fight, the way people are talking, right? >> i think what's going on in canada is they've got an election coming up, and the emotions are really, really high. and president trump has a strong view about what canada can do right now to help us really with the drug war. and it looks like they're making some progress. but if you go around toronto, walk around canadian cities, they're more like san francisco than any country -- any city in the u.s. so they haven't been serious about the drug war, but now they're starting to be, and that's why the parameters have been changing. i understand that emotions are always high during elections in canada as well as the u.s. stuart: got it. kevin hassett, thank you thank you very much for joining us on an porn day. thanks a lot. check futures day, because we've got some red ink.
9:07 am
minor gains or losses for the s&p and the nasdaq following that jobs report. kenny polcari joining us now looking at the market. kenny, what does the jobs report tell you? kevin hassett thinks it was a fantastic report. what say you? >> i don't think it was a disappointment at all. i'm on the same side as a kevin. i think it was a good report. it wasn't anywhere near like the adp report. we saw that disaster. but, you know, i've talked about this in my note, that you can't necessarily use one to judge the other. i was happy with the report. i think it continues to slow -- show maybe a slowing economy, but we know that. we actually want that to happen because we have to get off a, we have to get off the dole, right? they've got to pull back on government spending, that is going to cause a slowdown in the economy, but i don't think this was a disastrous report by any stretch. stuart: it doesn't seem to be a great environment for stocks though, does it? the economy is slowing. maybe that's a good thing in some respects. inflation is still with us, and we've got a trade war.
9:08 am
the environment for putting more money into the stock market, it's a little difficult, isn't it? >> well, it's not that it's difficult. i think you have to be much more course, right? -- cautious. you can't just say i'm going to put it away today. i think you have to be a little more cautious. look, the tone right now is eliminate the positive and accentuate the negative which is kind of what they're all doing. they're looking at anything negative they can find and is sell low. besides that, we've got broken trends in the market when you look at, as a technician, you see these brokennen trends, and that only helps feed on the algorithms to try to put more pressure. look, we're right sitting on the trend line support for the s&p, 5730. we broke it, we tested it on tuesday, we tested and broke it yesterday, recovered, but if we break it again today, i think that's just going to cause another leg down. not a huge leg down, but i think it's going to be pressure, so i wouldn't be surprised to see the markets end a little bit lower today. we've had a tough week, we're going into the weekend, people
9:09 am
are exhausted, markets are tired, and so i think buyers are not going to be aggressive, and if they want to sell, it 'em sell. stuart: okay. kenny polcari, have a good weekend. see you next week. >> you as well. stuart: please. listen to what a cnn reporter had to say about voters who support trump and doge. >> this, to me, was one of the more shocking figures that i saw, made me go, wait a minute, hold on one second, whoa. look at this, 54%, the majority say that he and they should, how about awe approve of trump trying to cut staff at government agencies? again, you get a majority here, 5 1%. so is, yeah, elon musk might not be that popular, but these cuts and the idea of spending cuts at least within the federal government and cutting government agencies, that actually has majority support. i was truly surprised by this, kate, but the numbers are the numbers. stuart: he was shocked, wasn't he? batya ungar-sargon joins me now. cnn people want to reduce the deficit. are you?
9:10 am
>> good morning, stu. thank you so much for having me. i love watching cnn because they're always a almost on the verge of getting it. you know, he's so shocked every morning by the numbers which reveal the same thing over and over which is this is a wildly popular president enacting a wildly popular agenda. and here is the genius with what donald trump did. he understood that there may be controversy around cutting a bunch of jobs, so he put elon musk in charge of it, a person who's already not very popular, which meant that he could do this very important thing, the efficiency program, while keeping himself out of it and, crucially, vice president j.d. vance. he put all the pressure on elon musk, and we're getting a great agenda off the this. i'll just one -- make one more quick point, stu. when i was reporting my book, i was traveling around the country interviewing people from all
9:11 am
political backgrounds. they hate government waste. everybody brought it up. they feel that taxes, they go to these programs, and there is just so much waste involved ask they work so hard. and it really eats them up. so i think this is obviously very popular with the american people. stuart: and president trump is popular too. ungarre -- bhatia, thank you for joining us. coming up, president trump clearing the air on how he wants his cabinet to interact with doge. >> i want the cabinet members to keep good people, and the people that aren't doing a good job that are unreliable, don't show up to work, etc., those people can be cu cut. stuart: sounds like trump has worked out the kinks in the operation. doge advises the cabinet, and the cabinet makes the final decision on firing government workers. that's how it should work. trump's foreign policy team is heading to saudi arabia next week to meet with ukrainian officials. sounds like we're getting closer
9:12 am
to a peace deal. senator ron johnson is next. ♪ pronamel clinical enamel strength can help us to keep our enamel for a lifetime. it's backed by science it is clinically proven to strengthen our teeth. i would recommend this toothpaste to everybody. it's really an amazing product. (♪) what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like ai. and how the industries born to support ai might better support us all. better questions. better outcomes. —hi! —hi! ♪ chocolate fundraiser. ♪ with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly.
9:13 am
[coins clinking] ♪ that's convenience from chase. make more of what's yours. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help
9:14 am
with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance.
9:16 am
♪ stuart: president trump's foreign policy team will meet with ukrainian officials in saudi arabia next week. jacqui heinrich joining us from the white house. is zelenskyy going to be at that meeting? >> reporter: no, stuart, zelenskyy is not going to attend that meeting, we just confirmed with a source in his office even though he will be in saudi arabia on monday for a meeting with mbs. steve wit of cough said zelenskyy's letter -- steve witkoff -- showed his gratitude for past u.s. support and basically convinced the president that he truly does
9:17 am
want to work toward peace. after he got that letter, the president signed off on marco rubio, steve wit of cough and mike waltz -- steve witkoff heading to meet with ukrainians again on tuesday. it will include zelenskyy's chief of staff. and we also learned yesterday that this meeting is not just about the minerals deal. >> they're now in discussions to coordinate a meeting with the ukrainians in riyadh. i think the idea is to get down a framework for a peace agreement and an initial ceasefire as well. >> reporter: as whether the will walk away with a minerals deal, witkoff noted that zelenskyy has offered once again to sign it. we'll see if he follows through. intelligence sharing has also applied pressure to get serious about peace talks, and the president signaled optimism that a peace deal could come together soon. >> i think what's going to happen is ukraine wants to make
9:18 am
a deal because i don't think they have a choice. i also think that russia wants to make a deal, because in a certain different way, a different way that only i know, only i know, they have no choice either. >> reporter: spatially, the white house shut down -- separately, the white house shut down reports the white house will revoke the status of 200,000 ukrainians refugees as part of ad broader plan to remove 1.8 migrants a that president biden let in. the press secretary called that report fake news, but the president did say he's considering some calls for it. >> we're not looking to hurt anybody, and we're certainly not looking to hurt them. and i'm looking at that, and there were some people that think that's appropriate and some people don't, and i'll be with making a decision pretty soon. [inaudible conversations] >> we're not looking -- especially ukrainians. they've gone through a lot. >> reporter: now, the president said he was not sure if he would meet with putin in saudi arabia to talk about peace. he had previously forecast that meeting happening there, but he
9:19 am
did say that he will likely head to the kingdom within the next month or so to talk about business investments. stuart. stuart: thanks very much, indeed. wisconsin senator ron john johnson joins me now. what do you make of zelenskyy not attending this meeting next week? the a deal probably wouldn't be signed without him, would it? >> good morning, stuart. i'm sure he'll be well informed in terms of what the negotiating terms are. from my standpoint, this is a really intelligent approach. i was involved in negotiation between serbia and kosovo, two nations who were at war 25 years after the war, there's still a lot of hate between those sides and what ambassador grenell did at that point in time, he forced them to deal on economic interests, what's the benefit to both parties. it's the exact same thing president trump's trying to do right now. you're not going to dissipate the hate from this horrific, bloody stalemate. but if you can offer something
9:20 am
that's a win-win-win for all parties, give them a good excuse for stopping the bloodshed, that's the only way out of this. and, oh, by the way, the economic benefits from starting to extract those minerals could help rebuild ukraine can, help pay off the united states, can actually benefit russia. a lot of those minerals are in the russian-occupied territories as well. so, again, hate is hard to dissipate, but the best way forward is focus on economic development, something they can all agree on, something that benefits all parties. again, i think it's a brill i don't approach, and -- brilliant approach and i think, hopefully, zelenskyy has come to his senses and recognized that as well. it's the best security guarantee he'll get out of america. as much as we support the ukrainians, we do not support sending american troop, and he has to recognize that reality. stuart: president trump says he's pushing to negotiate a nuclear deal with iran. he sent a letter to open up talks. watch this.
9:21 am
>> you wrote a letter to ca a maney, i believe? >> yes. >> when did you send the letter? >> yesterday. i said i hope you're going to negotiation, because it's going to be a lot better for the iran. stuart: what do you make of that, a few approach to iran? >> president trump wants peace. he doesn't want to be able to defeat enemies, he wants fewer enemies. so what he's trying to do is build up the military so we have peace through strength from that standpoint, but what can we do to lore the temperature. it's so easy for iran. all they have to do is give up their nuclear weapon technology, their alliance ares with hezbollah and hamas have been smashed. they're not going to be able to -- stop fomenting, stop sponsoring terror throughout the world, accept peace. and you look at a those sanctions, and we have no beef with the majority of the iranian people. we have a beef with their ayatollahs who are the largest
9:22 am
state sponsor of terror. again, president trump, i totally appreciate his approach. he wants peace. he wants few earnmies. enemies. we can't impose our will on everybody. we have to accept people for who they are, but we certainly can try and accept that and lead with our own values and do everything we can to avoid war. stuart: some significant developments overseas. how about this domestically, at yesterday's cabinet meeting trump assured the department heads that that they are in charge of staffing, not elon musk. looks like the president kind of worked out the kinks in the doge process. you happy with that? >> listen, i truly appreciate what elon musk is doing, what president trump is doing with him. we need to understand and expose the grotesque levels of waste, fraud and abuse. the trick is, you know, how do you take those exposures and translate that into legislation and true savings. i can't necessarily do it all with executive action, particularly if trump loses in terms of empowerment.
9:23 am
there's things we can do in terms of rescission, bypasses the 60-vote threshold, also a budget reconciliation. it's going to take a lot of work, it's going to be going through our budgets line by line, 5-60 00 -- 6,000 lines at a time. a lot of hard work ahead, but i'm very optimistic we can dramatically reduce the size and scope of government and and return to pre-pandemic levels of government. we went from $4.4 trillion in 2019 to 7.3. there's no justification for that. stuart: got it. senator ron john johnson, thanks very much for joining us. by the way, there will be more from maria bartiromo's exclusive interview with president trump on "sunday morning futures." that's this weekend with, fox news, 10 a.m. eastern. there's new fear over disinformation when it comes to a.i. chat bots. lauren, what's the problem in. >> pro-kremlin content, is the problem. russian-controlled media are
9:24 am
spreading pro-kremlin content in the web in hopes that the chat bots pick it up and use it in the responses they spew out. it's working. a company called news guard found that the ten leading generative a.i. tools including9 chatgpt and gemini picked up moscow's disinformation and repeated the false claims 33% of the time. in other words, the propaganda has been incorporated into western a.i. systems one-third of the time. stuart: once they're in, they're in, i presume. >> yeah. the large language models look at all of the web to gather their information, and then they spew out the responses. and if you put pro-kremlin propaganda in there, it night get spewed out. -- might get spew .. out. stuart: thank you, lauren. it's a friday morning. little bit of red, not that much. the job report came in, 151,000 jobs added to the economy in february. the opening bell is next. ♪ -- i know. ♪ she left me roses by the
9:25 am
9:27 am
at old dominion freight line, we do them this way. this way has people who start early. people who care and inspire each other to do things the way they should be done. this way uses technology (♪) and goes the extra mile (♪) to deliver your promises on-time, every time. this way is why we're the number one national ltl carrier for quality. for us, this way is the right way which is why it's the only way we go. your shipping manager left to "find themself." leaving you lost. you need to hire. i need indeed. indeed you do. sponsored jobs on indeed are two and a half times faster to first hire. visit indeed.com/hire
9:28 am
—hi! —hi! ♪ chocolate fundraiser. ♪ with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly. [coins clinking] ♪ that's convenience from chase. make more of what's yours. stuart: president trump just posting this on social: based on the fact that russia is absolutely pounding ukraine on the battlefield, i am strongly
9:29 am
considering sanctions and tariffs on russia until a ceasefire and final settlement agreement is reached. to russia and ukraine, get to the table right now before it is too late. check futures, please. i'm seeing some red ink certainly for the dow industrials. dow off 145, nasdaq down about 50 points. mark mahaney on a friday morning, here he is. why is amazon still your top pick? >> well, you know, stu, we just switched it up. i've preferred uber for the last sex months, but we switched -- six months. we've had nice outperformance in uber year to date, up 25%, amazon's off 7-8% year to date. you also have with amazon the lowest pe multiple i think you've ever seen with amazon, 25 times earnings. it's traded off for a variety of reasons. it does have is exposure to tariff issues. but we've got some interesting private catalysts, this alexa+ offering that should be out in the next 2463 weeks, and
9:30 am
their -- 2-3 weeks and their kuiper rocket launches. you've now got a little dislocation on the stock. i think the risk-reward is compelling. stuart: uber and waymo are teaming up in austin, texas. what does that do to your price target on uber? >> yeah, that's right, stu. i continue to like uber. if you're a bull on uber, this is exactly what what you want. you want it well executed. it just launched on monday of this week. atlanta will be next month -- or next quarter, during the summer. what uber now needs to prove is they can go to the largest autonomous vehicle vendor out there, seamlessly bring their vehicles onto the network and generate a lot of money for their partner. if they're successful here, you'll have robotaxis on uber's network everywhere. that's one of the reasons you want to be long uber. stuart: i am on your suggestion, mark mahaney. [laughter] see you next week. the market is now open s and we're looking at a dow
9:31 am
industrial the average that has opened lore. you're off about 180 points right now, back to 42,300. the dow 30, plenty of red there as well, the dow is off 170, that's 42,3, 42,4. and again, the dow 30 shows a preponderance of red ink. as for the s&p -- sorry, it's down one-quarter of 1%. the nasdaq is also a on the downside, a loss there of almost exactly a quarter of 1%. the president of the nasdaq, by the way, says they have begun working to enable 24-hour-a-day trading for 5 days a week. that will be really different, wouldn't it? how about big tech? apple, meta, alphabet, amazon, microsoft down. let's start with this, president trump signed an executive order to establish the strategic bitcoin reserve, and today the crypto summit takes place at the white house. bitcoin at $89,000 per coin. what have we got on this? >> good morning, stu. i think the crypto community was
9:32 am
disappointed that there, again, weren't more details, that effective effectively the administration said they're going to use the reserve on bitcoin that they've seized through maybe illegal activities or through criminal procedures. but not buying more bitcoin. it fell short of estimates from the crypto community. stuart: okay. crypto below 90,000 on the day their summit starts. >> yep. stuart: broadcom. i looked at it earlier, it was surging. it's still surging. a 4% gain is pretty good what's the story? >> an upbeat forecast going forward. they're looking at revenue of about $24.9 billion, and this comes after a better than expected top and bottom line last quarter. really interesting, the stock, as you know, more than doubled last year. so there has been a lot more room for this stock perhaps maybe to go. mizuho disagrees. they go down to 250, but truist goes up to 267, morgan stanley goes up to 260 from a 246 on the stock. stuart: what's the latest on
9:33 am
trump's a. a i'm sorry initiative? the stargate project? >> yes. this is fascinating. this shows the size and the scale, stu, of this project. we're getting reports that stargate's going to require 64,000 nvidia gpus by 2026. the first installment, as we know, is going to be about 16,000 gpus, and that is just for a single today center for a single -- data center for a single customer. stuart: good lord. >> this project, as you know, led my softbank, oracle, openai. there's a hot to come. stuart: that's huge. what's microsoft doing with -- they're competing with openai. >> yeah. right? they have the partnership with openai, but we're getting breaking headlines crossing said that they're working on developing an in-house a.i. reasoning model that, yes, will compete with openai. they may sell them to developers. but, again, microsoft, we're
9:34 am
hearing, beginning to test out some of these models from xai, meta, deepseek as potential replacements from openai with their co-pilot, moth's a.i. platform -- microsoft's a.i. platform. stuart: and the stock is down $4, 1.1%. t.d. cowan, what are they saying about tesla, cans down again? >> yeah. oh, my gosh, this stock cannot catch a break. they went up on the stock. wed bush overnight added it to their best ideas list, and really the story as you know, not a lot new, but it's autonomous and a.i. this isn't just a car company. this is sort of the way we should be thinking about awe on the pows a.i. driving in the future -- autonomous. stuart: one of them wants to go to 550? if. >> wed bush has them at 550. stuart: that would be a doubling of the stock. >> i know. [laughter]
9:35 am
stuart: costco, they had an earnings report, and they're down nearly -- 4%. what went wrong? >> they missed revenue, but same-store sales better than expected. revenue up 9%. analysts wanted more. seam. -store sails -- same-store sales rise to 8%. shoppers are still buying high ticket items last wear -- quarter in the holiday season, except we are hearing that inflation was the highest for meat. and you did see in this quarter a bifurcation between the high income and the low income on hover they're spending on -- how much they're spending on the quality meat versus the cheaper kinds of meat. costco highlighting this cautious consumer. stuart: show me gap, please, because i think they had an excellent earnings report. >> do you remember the jingle, fall into the gap? stuart: yes. >> right? talk about a -- i know, don't judge me on my voice. judge me about what i'm going to say about the company for fundamentals. this is the company that was in the middle of a big turn-around,
9:36 am
and and it looks like it is paying all. old navy, one of the big brands from gap, they also have gap and banana republic, grew 3%. this is versus the previous gater which was flat. so you're -- quarter which was flat. you're starting to see some growth in the company and, again,less than 10% of their sources come from china. so maybe more insulated from tariffs. stuart: hewlett-packard. now, they announced some job cuts, i think. normally when a company cuts jobs, do stock dose up -- the stock goes up or stabilizes. why is hewlett-packard down? >> they're cutting from a position perhaps maybe of weakness, not strength. 2500 jobs, that's about 5 of the work force, and they're -- 5% -- and they're sliding on a future forecast of weak earnings that they are guide canning out. they had to do some extensive discounting given the number of higher than expected inventory that they had for a lot of these a.i. servers due to the shift in
9:37 am
timing from nvidia with the blackwell cheaps. so -- chips. so, again, they just hadn't been able to manage that inventory and now discounting to get it out the door. stuart: okay, got it. i remember when walgreens was an absolute giant, and now they're going private. they've got a deal with, what is it, sycamore partner, i believe. >> 10 million take private which values the company9 a almost $24 billion. i think the ceo sums this up perfectly when he says to make progress on our ambitious turn-around strategy, it's going to take time and focus, and it is much better managed to do that as a private company out of the public eye. stuart: deal with locking stuff up to avoid theft. deal with that, please, and you might have a chance. thanks so much. we'll see you on "the big money show," 12 noon today. you still have time to send in your friday feedback. yes. it's friday morning. we do the feedback thing in a couple of hours.
9:38 am
send your views to varneyviewersfox.com. short and pithy, please, as usual. do you remember this? the media swore there was nothing president biden could do about the border crisis. >> republicans have been saying, largely wrongly, right, saying that the president can close the border unilaterally on his own. the president actually doesn't have the authority to do that. stuart: and yet with just a few pen strokes from president trump, illegal border crossings have hit the lowest level in decades. border guy chad wolf on that. we are facing an economic slowdown. that's my opinion. could we see gas prices go down too? let's get the opinion of gasbuddy, patrick de haan. he'll be on the show shortly. but first, 25,000 car enthusiasts have made the trip to florida to bid on vintage cars. madison alworth is going to tell us all about it. she looks good in that thing, doesn't she? we'll be back. ♪
9:39 am
we've always been competitive. ♪ yeah...one of us always had to be first. - first! - first! [kids bickering] [kids bickering] hold on, guys! ♪ first! today, we're first together. we love you, mom and dad. thank you so much for making it possible. and now you can finally put yourselves first. vanguard. fifty years of helping you invest for all of life's firsts. ♪
9:40 am
business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities.
9:43 am
♪ ♪ stuart: this weekend is the -- [speaking french] one of the largest car shows in the world. madison's there. all right. you're test driving a 2025 porsche 911. it suits you. how much does that go for? >> reporter: thank you, yes. stu, if you want to get it for me, with these bells and whistles, $160,000. off the lot, $133,000, so it's a pretty penny. but it's not for sale the weekend. it is available for test drives like i'm doing. i'm going to keep my eyes mostly on the road, because i don't want to get in trouble with the law or with our viewers. this is an incredible car lover's dream of a weekend. you have the concord elegance, a
9:44 am
two-day auction as well as drive-alongs like this. that two-day auction does have some incredible cars for sale. we have some amazing video of that for you guys. 169 vehicles are available. you have everything from your new-age a porsches to your beautiful, classic cars from the '50s, '60s and earlier. and among those 169 cars, we're talking about $74 million in value. of course though it could be more or less are depending how much people bid. and we have seen a stabilization in the classic car, luxury car market. auctions actually fell a little bit last year in terms of value, and, you know, that's something that the carr market is thinking about. -- car market is thinking about. i spoke to the president of the auction a, and he says that 2025 is off to a really strong start. >> i think we saw a much stronger drop in 2024. and even though the stats may look like we continue to see some drop in the beginning part
9:45 am
of 2025, based on our conversations with collectors, level of activities and what other auctions have performed so far and even just three weeks ago we had a smaller auction in san francisco, and that really exceeded our expectations. we're optimistic for this weekend with. >> reporter: yeah. and there's more optimism because broad arrow does private sales as a well, and for q1 2025, they've done half of the sales volume they did for all of 2024. but this weekend is not just about the sales, it's about car lovers experiencing this. let me tell you, i could get used to this lifestyle, stu. but for now, back to you. stuart: i do hope we see you back here in new york on monday morning. leave that thing down there. madison is, all good stuff. thanks very much, indeed. since you're driving a gasoline-powered car, take a look at gas prices. the national average for regular as of right now is $3.10. diesel is coming down a bit, you're at an average of $3.64.
9:46 am
this is where we bring in gasbuddy, patrick de haan. he joins us every now and again to tell us where gas prices are headed. here is what i think. the economy is slowing down. could we get lower prices for gasoline because of a slowdown in the economy? >> yeah, we absolutely could, stuart. not a bad time to take the porsche out. keep in mind last year we saugus prices rising 35 cents a gallon by this time in march. this year we've only gone up 15 cents, so i think you're on it. i think an economic slowdown is probably going to still lead to a seasonal rise in prices, but this summer could feature the lowest gas prices really since the pandemic. we're still seeing 30 averaging below $3 a gallon mark, and i don't think we're going to see as a much of a seasonal a increase. not a bad year to hit the road. stuart: 30 states where it's below $3 a gallon. are hose concentrated in a certain area like upper midwest or the south?
9:47 am
>> yeah, stuart, they really are. generally speaking, all the a gulf states. florida's not a bad start, it's probably the exception in the southeast, but states like oklahoma, kansas, texas, alabama, mississippi and louisiana all generally amongst the lowest, in fact, the lowest state average today just $2.62 there in louisiana. stuart: we'll take it. i'd drive there for that. patrick dehang thank you for joining us. -- dehaan. gasdud -- gas buddy, right there. trump has a new message for the astronauts trapped on the international space station. >> sunny williams and butch butch wilmore, they've been stuck for almost nine months, and president trump says elon musk is going to get them home soon. >> reporter: i'm sure they will see this. what is your message in. >> we love you, and we're coming to get you with. you shouldn't have been up there so long. the most incompetent president in our history has allowed that to happen to you, but this
9:48 am
president won't let it happen. we're going to get them out. we're coming up to get you. i authorized elon, i said, can you get 'em out? is because, you know, they've been left up there. >> meanwhile, musk's spacex starship rocket experienced another set tobacco, exploding in space -- setback. exploding in space. >> and we just saw some engines go out. it looks like we are losing altitude control of the ship, so we're still getting video down from the ship. you can see we've lost several engines and attitude control of the vehiclement. >> that was just is eight a minutes in. this is the world's biggest rocket, it's 403 feet tall. it it will eventually be used to take humans to mars, but it did spin out of control, the engines lost control. debris breaking up in the sky, look at that, and it landed at airports up and town the east coast. musk call -- down the east
9:49 am
coast. musk calling this event a minor setback. from mars to the moon, are you ready? intuitive machines, another space company, had difficulty landing its athena spaceship on the moon. it did touch down, but it appears to not be in an upright position. it might be on its side. the stock is plummeting 20% because it's unclear if that will affect its mission of being able to find water on the moon, to do all the tests. stuart: private enterprise space business is a big deal, and it's great to see private enterprise doing the job that nasa used to do finish. >> dangerous and exciting and all the places we might soon be able to visit. human space exploration. stuart: you maybe, not me. all right, lauren, thanks. coming up, trump is not reining elon in. he's streamlining doge to make the department of government efficiency more efficient. a necessary change. that's my take, top of the hour. defense contractors gathering in austin to show off they are lathe r latest innovations. max gorden is getting a glimpse
9:50 am
of what the future of warfare could look like, and it looks like, for heaven sake, he's getting a workout. we'll with -- be back. ♪ ♪ only servicenow connects every corner of your business, putting ai to work for people. pfft ... every corner? every corner, nick. ow! so kate in hr ... hey kate. can focus on people, not process. oh actually, i have a question ... keep up, nick. do you have to be sick to take a sick day? patty in it is using ai agents to deal with the small stuff, so she can work on the big stuff. agents like secret agents? secret agents i control. with your mind? you know ... i played a secret agent once. - we know. - oh gosh ... i liked it. over here, ai gives tina the info she needs to get the job done. nick, what did we say about touching? no touching. good. ai helps jim solve customer problems before they're problems. for reals? for reals. for reals.
9:51 am
servicenow is the only platform that connects every corner of your business, putting ai to work for people. oh, so we all work better, together! my work here is done. excuse me, which way back? uh, follow him. i'm thinking of updating my kitchen... —yeah? —yes! ...this year, we are finally updating our kitchen... ...doing subway tile in an ivory, or eggshell... —cream?... —maybe bone?... don't get me started on quartz. a big big island... you ever heard of a waterfall counter?... for everyone who talks about doing that thing, and, over there. but never does that thing... a sweet little breakfast nook. chase has financial guidance. let's see how you can start saving to make this happen. —really? —really? really. at home or in-person. you could also check out a chase money skills workshop. that's guidance from chase. make more of what's yours.
9:54 am
stuart: a defense -- defense companies have gathered a in austin to show off their latest known e vases can -- innovations. max gorden, it looks like you're getting some kind of workout. what's with the backpack? >> reporter: yeah. this is a go rubbing pack. essentially, it's a weighted vest, and everyone here at the conference is kicking off the day with a little bit of a workout. today's theme is health and wellness with an emphasis on health and wellness for veterans. so a lot of the folks here are veterans or they're defense9 certs, and so we're ending the walk right here, and in a little bit they're going to be doing some yoga here on the lawn at the austin for america conference. now, yesterday the theme was all about defense tech, showing off this technology. we saw drones, different pieces of kits that soldiers can use out in the field. and then there are, of course, speakers as well talking to the
9:55 am
conference. now, the reason for the austin for america conference this year is because south by southwest says they don't want defense contractor osar the army at south is by southwest. so take a listen to conference founder about his feelings on all this. >> it hurts. it hurt when we got excluded was, again, this is -- because again, this is our home and community, and that's not what building for america is about. building for america is listening to all the voices. and you can disagree or you can agree, but the same thing is hearing those opinions, hearing viewpoints so we can build together. >> reporter: in recent years austin has become a hub for the defense tech space. army futures command is is headquartered here where they're researching new technologies for the future of warfare. [no audio] >> we are really interested in understanding how we bring robots, ground and air, together into a formation to do what row bots are really good at while
9:56 am
optimizing what our humans are really good at. >> reporter: the founder of austin for america says he's been really happy with the conference turnout this year. he says about 1400 people signed up, and he says that they'll do it again next year if south by southwest disinvites them again. stu? stuart: still ahead, former dhs secretary chad wolf on trump restarting the detention of migrant families with children. erica donalds on what it will take to get rid of the department of education. steve hilton on gavin newsom breaking away from his party on the transgender issue. sounds like he's gearing up for a white house run. canada's energy resources minister, jonathan wilkinson, he's going to be here. trump and trudeau are big in their heels on this trade war. is this going to be a long, drawn-out fight? we will ask him. the 10:00 hour is next. ♪ ♪ -- songs get sung. ♪ a little bit of money, the night's still young. ♪ leave me alone, i've got a
9:57 am
license ♪ at t. rowe price, we help advisors move forward by building agile etfs .. that's the power of curiosity. better questions can lead to better solutions. t. rowe price invest with confidence known for sharing what you love. ♪ no one wants to be known for cancer, but a treatment can be. keytruda is known to treat cancer. fda-approved for 18 types of cancer, including certain early-stage cancers. one of those cancers is triple-negative breast cancer. keytruda may be used with chemotherapy medicines as treatment before surgery and then continued alone after surgery
9:58 am
when you have early-stage breast cancer and are at high risk of it coming back. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain, nausea, or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion, memory problems, persistent or severe muscle pain or weakness, muscle cramps, fever, rash, itching, or flushing. there may be other side effects. tell your doctor about all medical conditions, including immune or nervous system problems, such as crohn's, ulcerative colitis, lupus, or myasthenia gravis or guillain-barré syndrome, an organ, tissue, or stem cell transplant, or received chest radiation. keytruda can harm your unborn baby. ♪ keytruda is an immunotherapy and is also being studied in hundreds of clinical trials, exploring ways to treat even more types of cancer. it's tru. keytruda. see all the types of cancer keytruda is known for at keytruda.com,
9:59 am
and ask your doctor if keytruda could be right for you. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything.
0 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
