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stuart: after a brief movement toward mumford and sons yesterday we are back to the rolling stones. ruby tuesday. doesn't new york look lovely at that level? crystal clear sunshine, blue sky. >> you can't see or smell any of the trash or congestion. stuart: good morning, it is 10:00, get to the money please. there is no rebound after yesterday's big selling, we are down on the dow 230 points. minor loss of the s&p, nasdaq is trying tock but only 98 points, that's it, that's not much of a comeback this morning. the 10 year treasury yield right around 4.4%, 426 now, the price of oil well below $70 a barrel down to 6691 and bitcoin

no recovery, $81,200 per coin. the latest on job openings for the rest of january, good morning, ashley, the number please. ashley: 7.74 million, the estimate for january 7th. 763 cell more often open jobs than expected, the december number reduced down to 7. 508, that means around 91, 92 workers available for every 100 job openings. for perspective during the height of covid, there were less then 50 workers for every hundred jobs open, all higher than expected. stuart: that was five years ago, 5 years ago today as a matter of fact. 5 years. now this. elon musk is the chainsaw man hacking away at the inefficient and occasionally corrupt government bureaucracy. he thing the price for taking a

leak, progressives who frankly hate him are holding protests outside tova dealerships around the country trying to ruin his business, charging stations have been vandalized and burned, demand for total cars in europe plunged after elon tried to influence politics over there, stock prices plummeted costing musk personally $132 billion. interesting to see the very human elon musk interviewed by larry kudlow on fox business, he spelled out clearly what he is doing, precise, transparent, every action taken by the doge team is put on the website for all to see. he's identifying $4 billion worth of what i would call couple spending every day. with the support of donald trump, he leading the revolution in how our government, democrats have nothing, it's been 6. $8 trillion a a year, clearly still tax and spend party.

that's not good enough, $36 trillion in debt, the deficit more than $1 trillion a year, we spend more on interest rates than defense, the left uses obscenity to describe elon musk. the only one doing anything about the debt mess we are in and that's how they describe it. the media playing as usual role, the chaos in government. what they are trying to do is change public opinion and bring down trump's approval rating. trump is doing what voters want him to do, closing the border, cutting wasteful spending and musk is nowhere near done. he has one hundred members of his team now, that grows to 200. is not stopping, he told larry he is in this for another year. this is my opinion. musk has more impact than any private citizen in history. second hour varney just getting started.

look who is here, then domenech, no going back, he's making his mark and he is staying. been:people need to understand it is common after decades of congress failing to do its job in all these areas if we had a congress that functioned, their obligation to serve the people in the interest of the country, these are what would have gone in place legislatively years ago. what we have is a private citizen coming forward, being brave enough to put him in the center of the target to go out and make these tough decisions to outlaw this type of waste, fraud, and abuse and expose these programs even if they are not corrupt about the american people never really wanted in the first place.

bureaucrats who think they know better are the ones who put them in place and use them to create little fiefdoms they are now defending. the other thing people need to understand is he's not just taking on the bureaucrats. he's also taking on a lot of political appointees including republican political appointees who wrongly believe they have to defend that money, the agency against the interests of the american people, something essentially at odds with everything we believe the government should do and terming to serving us as a citizen and elon musk is willing to take the time and effort and hits from the media to do this. stuart: i am sure you saw this but cnn's van jones says the democrat party is in crisis and, quote, doesn't know what to do. roll tape. >> another question. can i talk about ukraine or something? we are screwed.

democrats don't know what to do. this is a nightmare. the democratic party is going through a massive set of internal crises, they got trapped two ways. one, defending a broken status quo nobody likes because they thought donald trump was going to make it works about when you defend the status quo you're going to lose. stuart: wire the democrats so fractured? >> we are the reason they are fractured, they didn't listen to smart people like van jones who were warning about these things a long time ago. people who experienced the rough-and-tumble world of politics warning democrats that they were risking things by defending the status quo, not be interested in the change people are demanding and getting bound up in woke policies of the word distractions from the practical kitchen table issues americans

care about and that's one of the big reasons they are now fractured because there is this tension between the woke left of that wants them to continue down the progressive lean regardless of political consequences and fight handful of smart people who remain within that party, who understand the priorities. they are not listening to john fetterman,. listening to people who say we need to reorient our direction, they are home to the progress of left and the most radical element of their party and as long as that happens republicans are going to win elections. stuart: thanks for joining us. appreciate it. to edward lawrence at the white house, he has news on tariffs. what do you have? >> reporter: the president saying he's doubling the tariff on steel and aluminum starting tomorrow specifically from canada, 25% to 50% in response to canadians uping or putting a

surcharge on energy coming into the united states, the president is talking to the business roundtable laying out his deregulation plan and his tax plan and his tariff plan and how it will play out. the president meeting the largest companies talking about companies like black rock, talking about companies like bank of america, companies that represent 37 million people, 24% of the gdp in this country, fox business confirmed that jpmorgan ceo jamie dimon will be in this meeting, so will jane frazier, the president will layout why the americans and those businesses should not be worried about tariffs, some experts say fundamentals in the markets are solid, spending is solid, tariffs are solid and will not have an inflationary effects of the selloff we are seeing according to some market experts is a normal function of the markets. listen.

we might not have that. they say, what we are seeing is a normal functioning of the markets, from the market experts. this is just a correction, not going to be 25%, not going to be 30%, just a correction based on what is normally happening in the market, just happens to be at the same time that this tariff thing is going on. stuart: charles payne is joining us this morning, very fortunately. doubling the tariff on steel and aluminum go to canada ratcheting up the fight with canada, what do you make of it? charles: we are ratcheting up because of the guy from ottawa. i think americans need to pay attention. we have someone another country saying i will cut off your electricity, the notion they think they have that power should wake us up. no one should have the power to turn off our electricity.

that's what he's threatening am a for three states they raised a surcharge, but that in place. they want to do get out, let's duke it out. doesn't have to come to this. ultimately, what they export to us and we export to them is diametrically different. they will lose. canada will suffer a greater, consequences. what i'm concerned about politically i pray doesn't happen, that they elect carney who has taken over from trudeau. he's filling the spot for now. he's going to be terrible for the average canadian game of the ultimate elitist, the ultimate attachment, when truckers want to strike him he called the police from his print house, making too much noise, this person worries me but because the tensions are where we are and you hit the nail on the head. this is a media orchestrated selloff in the stock market.

the economy has been slowing. the economy, the top 10% of americans are doing 50% of the consumption. here's my concern. of the market goes down enough, the top 10%, they -- the wealth effect. stuart: can we avoid a recession? charles: i think we will but it is interesting, we came out of earnings season. if you look at the times recession would mention, no company in america talked recession in the last month during earnings season, it is a media story, it goes out there, someone talks about it, did china create this sort of fear and it is working to a degree. stuart: kevin hassett says strong growth the second half of this year. charles: we have to put the

pieces into ways, the tariff is not inflationary. it will pressure the economy. i'm not worried about prices, people are tapped out, they go to walmart and whatever it is costs $0.50 more, they won't by it. what happened, the smallest deflationary period in history, not inflationary, deflationary, we have to worry about the economy slowing, not so it falls off a cliff but the tax cuts, start to remove regulations and take off. stuart: glad you are with us today. i want to tell our viewers we will be watching your special, a matter of faith today at 2 p.m. eastern. charles: amazing how much people invest in this, this is an untold story that's blowing up and a lot of viewers, this has been a good week. stuart: 2:00 this afternoon. still had. teachers union boss randi

weingarten is angry about abolishing the education department. watch. >> they won't even for the kids who have it now, just give it -- stuart: she is fighting school choice. we are all over that one. whoopi goldberg is defending men competing in women's sports. >> you are assuming that the women are weak and can't do anything. have you seen female athletes? i am not sure what is going on our why this is an issue. stuart: i am sure brian kilmeade can explain why this is an issue. he will be on the show shortly. elon musk highlighting waste, fraud, and abuse and social security to marsha blackburn, concerns about anyone going after social security. the senator is next. ♪

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stuart: check the markets, red ink again, dow up 400 points. we just heard from donald trump, he told the commerce department to double the tariffs on steel and aluminum coming from canada to 50%. 's warning about on april 2nd other tariffs would substantially increase if no deal is reached, ratcheting up the fight with canada, market down a bit more. the commerce secretary, howard lutnick will join us tomorrow at 9:00. today, the house is holding two doge style hearings. aishah hasnie on capitol hill for us, talk about the covid fraud hearing.

>> reporter: that's what house up a concert trying to do, clawback money that has already been appropriated by congress including those pandemic funds. some feel has been used fraudulently so they want to bring some of it back, we will have more name-calling today, we see net in the last couple days as democrats continue to fight against elon musk and doge, the house oversight subcommittee looking into covid fraud. the chairman of this committee say they uncovered billions of taxpayer dollars, rushed out the door of the biden administration under the guise of pandemic aid. house homeland security subcommittee looks at wasteful programs in the dhs, so far these doge style hearings have devolved into shouting matches

with democrats using expletives and lodging insults at elon musk and donald trump. house democrats are trying to use every venue available whether it is on social media, here at the c man but musk not cut funding congress has appropriated. >> the typical old in the same presidents want to become kangas, we got elon musk in the picture. he represents a silicon valley billionaire political mafia. >> reporter: we will keep an eye out on the hearings and bring any news as soon as we get it. stuart: senator marsha blackburn is leading the charge a on a bipartisan bill to protect senior citizens like myself from dating apps scams. senator blackburn joins us now. what kind of scams do we need to be protected from?

>> reporter: what we have become aware of is the scams that are taking place on dating apps. for instance, in tennessee, we had seniors last year, individuals that lost $43 million on scams that took place on these dating apps so this legislation would require these apps, and also post when somebody is a scammer and this is bipartisan, we are continuing to work for you our committee and we hope to get this moved across the floor of the senate to the house and the president's desk. stuart: i know this is not the most important subject, this is of high interest to our viewers. i will move on. in an exclusive interview with larry kudlow elon musk explain

how doge is targeting widespread fraud. >> there's a massive amount of fraud, people submitting social security numbers for social security benefits, unemployment, small business administration loans, fake social security numbers or they stole somebody else's social security number and we are trying to put a stop to that. stuart: a lot of people are concerned that musk and trump are going after social security. are you worried about that? >> what we are focused on doing is rooting out every penny of waste, fraud, and abuse from social security, medicare, and medicaid and assuring that they are going to get every penny that they are entitled to and getting rid of these fake social security numbers, individuals that are one hundred 50 years old that are

getting checks and making certain that people that have been defrauding social security, medicare, and medicaid and depriving enrollees of timely response and timely access. all of these individuals that are defrauding the system need to be prosecuted, the money should be returned. stuart: got it. senator marsha blackburn, thank you for joining us. always appreciate it. harvard and mit are imposing a hiring freeze after trump's threat to withhold federal funding. got that story. a federal judge blocked the deportation of mock mood - --mahmoud khalil what happens now? we will deal with it next.

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stuart: markets are digesting the news that trump would double the tariffs on steel and aluminum from canada going up to 50%, going into effect tomorrow. he says other tariffs would increase april 2nd. the trade war with canada is ratcheting up.

gary, gary kaltbaum, what do you make of it? gary:it is a trade war and it is full go. if you have a situation of a trade war combined with an economy coming off of government largesse the last couple years, you've got trouble in the market, definitive repricing based on the this. the bad word called uncertainty is front and center because we don't know what tomorrow will bring, the talk is getting tougher on both sides, where she stops the market doesn't know, a lot of shoot first ask questions later. stuart: thanks for jumping on the show, appreciate it, the dow is up 470, nasdaq is down 170, this follows huge selling yesterday. a lot of reading. look at the movers please and tell me why verizon is down 6%.

ashley: oh cell service provider is down big, the truth revenue officer's comments at an investor confidence has not helped, he acknowledged a challenging quarter from a competitive intensity standpoint and warning of soft subscriber growth combining down 7% for verizon. next is a sauna, the company that provides work management software falling out of bed after dustin moscowitz am announced his retirement. investors are not thrilled about it and you couple that with a disappointing revenue outlook and the stock is off 28%. %. let's take a look at the travel stocks taking a hit after the big three airlines warned they expect demand to drop as the economy slows down, less people staying at hotels, parks, booking trips, travel stocks as you can see taking a trip south. stuart: thanks very much.

a federal judge blocked the trump administration from deporting the pro-hamas columbia activist mahmoud khalil. alexis mcadams in new york city, what happens now? >> this morning, gary kaltbaum -- there wasn't enough room because of the migrant crisis in the big apple. this comes after authorities tell me and sources within the white house avert mahmoud khalil was investigated, investigators found hateful anti-semitic comments on his social media accounts buddy new york city people calling for his release. >> we want justice. >> release mahmoud khalil now. >> reporter: protesters chanting free palestine and free mahmoud khalil as police

arrested the columbia grad student over the weekend saying he was leaving activities that align with hamas. his lawyer says the feds told her they were going to revoke his green card and his student visa. we know he came from syria two years ago and married a us citizen who says she is pregnant so she wrote a letter demanding his release saying he needs to be sent home. we know mahmoud khalil called on columbia to divest from israel, last week he was at a protest at barnard -- barnard college where pamphlets were handed out claiming they were from the hamas media office calling the october 7th attack by hamas a moral victory. that's under investigation, trump says more arrests are coming but mahmoud khalil has backing from congress. >> if you believe in constitutional rights, they are targeting this person it everyone knows he has been vocal against the genocide of

the palestinian people and refusing him constitutional rights. who is next? >> reporter: mahmoud khalil's attorney says he is healthy and his spirits are undaunted as a judge ruled that he cannot be deported yet, yet is the keyword. they are calling on are hearing for tomorrow. today is a call to action across the city, we expect to see students at columbia university walkout in protest. we will keep an eye on it. stuart: harvard university and mit have frozen new hiring after trump pulled $400 million in funding from columbia. karine haja joins me, they have an endowment of $51 billion. >> they are reading the tea leaves. they sense the administration is looking at what our federal dollars are going to. a crazy statistic, mid 1970s

22018, nonfaculty college full-time administrators grew one hundred 62%. gets how much students grew? charles: fewer. >> 78%. faculty grew 92%. americans are justified in asking where's the money going to? where's harvard money going to if your tuition payer but where are the federal dollars they are going to and the same thing for mit. as of 2023 they had nine times more nonfaculty employees. stuart: it is more than going after anti-semitism. is going after where is the money being spent by these college administrators. a broader picture than anti-semitism. >> for sure. people wonder what is the bloat for. on top of that a lot of administrators were dei type people trying to create a more inclusive environment on campus. americans woke up and saw that wasn't the case the last few years. blue and fewer kids going to college. enrollment is down.

next one. randi weingarten is where the closure of the education department would boost school choice funding. watch this. >> we know, for example, what texas would do, vouchers even to the kid to have it now, just give it for vouchers. >> religious schools. >> or what we are seeing in all programs that are now extent in terms of vouchers, they don't work for kids. they basically go right now. it becomes a tax credit for people who are ready, sending their kids to private school. income distribution. stuart: did you hear the contempt by the lady on the right of the screen, religious schools. i think randi weingarten is right, money will be going more towards vouchers. i don't see anything wrong with that. >> i don't either and i don't think this is, she's making

this out to be the trump administration's fault, something evil they are doing but part of the broader vibe shift not just this year but the past four years, school choice programs have exploded across the country, school choice exists in 30 states in some form or another and god for bid that low income parents, minority parents have the choice to choose what specialized education they want for their children, this is what it is about. i expect this vibe shift to continue. stuart: thank you very much indeed. when the teachers union start supporting school choice i will be surprised. do not hold your breath. we have news early this morning, half an hour ago that donald trump was going to double the tariff on steel and aluminum tariffs products coming to us, going to canada, doubling the tariffs. lauren is back with us, let's

find out what the gentleman's response is to the doubling of the tariffs. >> reporter: from 0% to 50% in 14 hours time. the ceo of alcoa. what does that do? >> ultimately 50% tariff will increase the price of aluminum across the board. it happens immediately it will get reflected in higher prices and our customers products. cars, beer cans reflected as a higher price. >> reporter: can the consumer handle that? >> hard for me to say if the consumer can handle that. what i can tell you is we import a lot of aluminum from canada. we import 80% of the aluminum in this country that gets used outside this country and that will reflect higher prices. blue what are you worried? 50%? >> we are running a robo company. we will ensure we have it better in the right place. ultimately, what this shines a

light on is it is critically important for copperheads of energy policy in the united states. the rotelle a story nature of these tariffs are based on energy and important for us to have low cost long-term energy in order to make aluminum in the united states. we hope it gets resolved quickly. >> reporter: the clock is ticking, midnight a few hours away, that's a 50% threat right now. do you have a question you want me to ask? stuart: thank you very much for getting the gentleman back on their. thank you very much indeed. show me alcoa stock. it is up. the idea that you increase these tariffs includes prices of aluminum in the united states may be increase the profit for alcoa, $0.24 higher but the stock, big downward markets. elon musk says he knows who is

behind the massive cyberattack on x, we will review his crime subject a little later on the show, two kinds of travelers, people who arrive at the last minute and people like this. >> 5:00 am! >> it's not until 2:00 in the afternoon. >> exactly. stuart: i am one of the people who get to a place very very early. a new trend that has to travelers sweating to catch their flights. we will deal with that next. ♪ ♪ [air blower sound]

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stuart: the market taking on the chin again, increasing tariffs on aluminum and steel coming to us from canada, the

market adrift down 500 on the dow, down 158 on the nasdaq. look at the airlines, mixed picture, southwest, going to charge for bags, jetblue not sure what the story is but up 5%, united, american, and delta, all down. a new airport trend, travelers cutting it close to when their flight actually departs. explained to me. madison:a new trend called the airport theory, trying to cut down how much time you spend at the airport, the rule of thumb is to arrive two hours before departure. a lot of time. the airport theory says 15 minutes before your departure, you should arrive 15 minutes before departure which doesn't make sense to me because most airlines actually close their doors 15 minutes before departure. i assume they mean 15 minutes

before boarding and the thing is the internet is full of videos of people trying this. there are some people that succeed, they arrive 15 minutes before departure and they make it onto their flight but as you might imagine there's lots of videos of people failing. i'm a fan of this because i like to cut it really close. i don't check a bag really ever. i will do international travel, i never checked bags, i don't want to get there an hour early and i know you do not check a bag. stuart: i have rules for traveling on screen right now. you've got to take the first flight out because then you know the plane is there. never check a bag ever. you don't have to check a bag, you don't do it. madison: people are making something of that. always fly direct. i agree with most of you. stuart: we want to hear from

you people too, my rules for flying are good ones. what are yours? varneyviewers@fox.com. within 24 hours, norad intercepted two planes that entered the restricted airspace around the mar-a-lago. there have been 24 violations since trump will talk office? what's going on? >> reporter: good morning. this happened twice over the weekend, once on saturday, once on sunday, these are small recreational planes that flew into restricted airspace, the president was never in danger but this costs a lot of money, time and resources for the us government when this happens. when donald trump visits in palm beach, the faa issued a temporary flight restriction with 30 nautical mile radius.

pilots must alert the faa if they want to travel with the next phase. the inner circle is mar-a-lago, more restricted airspace, most aircraft are banned from flying, two planes this weekend got dangerously close to the winter white house which did trigger norad to scramble a pair of air force fighter jets to escort them out of the area. >> most of these folks aren't talking to air traffic control and aren't on the emergency frequency. therefore, stumbling into that airspace. >> reporter: norad said 24 incidents like this since the inauguration. they are not checking flight restrictions before they take off but the government says it costs $50,000 every time two fighter jets go up. this is avoidable in most situations.

stuart: we hear you. thanks very much indeed. still had. molotov cocktails, arson, graffiti, our tax on tesla dealerships escalating, trump is showing his support for musk. he is going to purchase a tesla. brian kilmeade next. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. comcast business doesn't just power businesses. we help turn them into... ...logistics-mastering... ...supply-chain-transforming... ...seamlessly-restocking... ...frictionless-paying... ...poke-bowl-ordering... ...cyber-securing... ...mobile-access granting...

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stuart: brian kilmeade joins

us. will people goldberg use dylan mulvaney to defend men to defend women stortz. you say these are men competing against women, you are assuming of the women the women are weak and just can't do anything except their hair. have you seen female athletes? they know what they are doing. i'm not sure what is going on or why this is an issue. stuart: you've got to come into this. i think most americans disagree with her on this particular issue. brian: billy madison, kendra member it verbatim, we are all dumb having heard that. have you heard a stupider statement in your life? we don't understand, we

understand women's bodies, have you seen some women can we see women try to compete against men, they can't, that's the way it is in sports. in tennis, in golf, in football, baseball, basketball. when you put a man who wants to be a woman and a woman's port he will dominate if he is athletic and that's a deal. dylan mulvaney who seems to play a woman on tv and write a book about it, sport -- over in the soccer by

a trans man you will know it. if that's your daughter i am pretty sure you won't say statistically it's not likely to happen. it will continue to happen unless it is stopped. emma kratz and people like whoopi goldberg went to give halfwit comments why trans men belong in women's sports, have added. stuart: it doesn't work. let's get more serious, protests against elon musk have turned violent. tesla dealerships, set on fire, musk has become public enemy number one and i don't think that's right. brian: go to doghe.com. his team is looking at contracts, looking at checks, making them put their name on checks in an address to where it is heading, making people accountable for what they are spending, raining and pandemic spending for one reason, not to get more rocket ships in the sky, not to get more tunnels in the ground, not to make more chips in the floor for electric cars on the road, he said, to

donald trump, i heard him on his own interview with trump, i would love to help you out with a government efficiency. it was so much worse than he thought and as he cuts these programs and talks about the bloated federal workforce now people want to make an enemy number one and i caution everyone, don't get caught up with what the media is saying, new york and los angeles and washington saying. outside of that web of disinformation the american people stand. i think most people are in his corner and if you are about to buy a current thinking an electric car do yourself a favor, go get a tesla. not only the best car but charging stations, he did it himself. the other ones you will be driving around a little while because joe biden was in charge of that so if you're looking for a car and are upset like many people are about the way he has been treated, go get a tesla. stuart: i want to get this in, you celebrate it texas tuesday on fox and friends, you seem

hesitant but got you looking like a real texan by the end of it. >> texas. >> brian -- >> whatever happened. my version. what do i need to know, there we go. all right. look at this. slowly whipped it up. stuart: you look good. tell me, how long did you last? brian: they were kind to me, went around in a circle which i would have lasted 20 or 30 minutes because i have incredible balance which i'm very natural on wild animals but we were up against bill hemmer and dana perino would not give me any time. you would give me a few minute. stuart: watch out for those horns, they could be lethal. you are good man. the lead, jimmy fail is about

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