tv Varney Company FOX Business April 6, 2021 9:00am-12:00pm EDT
maria: absolutely. nancy? >> much in the nasdaq, a thousand points above the low in march and we are still 400 points below the historical high. software, infrastructure , and the structure will drive the productivity as long as we don't get too high of a corporate tax rate. maria: may be we have some runway. thank you. that will do it for us and "varney & co." begins right now. ashley webster reinforced her at this morning. ashley: good morning. i am ashley webster, but stuart will join us in a few moments, so he will be here soon, not quite back to normal, but we are headed in the right direction at least in republican run states. 38000 fans attending the texas rangers opening game against a the blue jays.
they stood shoulder to shoulder and not many wore a mask, the largest attendance sporting event in over a year. that is back to normal. politics on full display as texas governor abbott refusing to throw out the opening ball after major league baseball pulled out of the all-star game. baseball objects to george's new voting law, which is strange because the game is reportedly being moved to denver and baseball apparently ignoring colorado's much more restrictive voting law. ironic. meanwhile, senate republican leader mitch mcconnell has make in his clear opposition to corporate involvement in politics telling ceos to stay out of politics or invite severe consequences. we will have more on corporate america gave enough to the left and basically caving to their own yes woke employees. new records monday for the dow jones and as of
the, no serious pullback from the lofty levels at least in the early going in the premarket. dow jones, smp slightly lower with the nasdaq essentially flat. 10 year yield holding steady yesterday around 1.71% and right now falling down to 1.68% alleviating any fears of inflation. bitcoin down again $515 at 59325. then there is florida, the grocery store chain publix, 60 minutes and ron desantis with cbs accusing the governor pay to play. wait till you hear his response. "varney & co." is about to begin. ♪♪
ashley: rock in the usa and if you're in jacksonville beach, lucky you. let's get down to business on a "varney & co.". on the 60 minutes a sunday night the governor of florida was accused of pay to play. florida had awarded a contract to publix the grocery store chain to administer the vaccine. publix contributed $100,000 to the campaign of governor desantis. 60 minutes reporter said he had rewarded publix because they gave him money. guess well, here's the governor response on "fox & friends" this morning. >> americans don't believe corporate media anymore for this reason. and they edited out all the key facts. i gave a detailed response at the press conference and they edited out all the facts
and also there was no deal with the publix. they're one of the most respected companies in florida. people love it and it would be malpractice not to use them as a distribution point. all they were looking to do with a hit job on me to try to smear me and they are basically ambulance of change-- in the lives chased sirs with a microphone. they lie, we know they are lying, they know we know they are lying. stuart: .-dot governor desantis, ambulance chasers with a microphone and stuart will have more on this when he joins us shortly but for now let's bring in "fox & friends" weekend cohost a will cain. you are at a diner in texas and we will talk about the border in a minute, but i want your reaction to what 60 minutes a day to governor desantis. reporter: ashley, good morning. it's beyond shameful and that's not strong enough language. its manipulation, propaganda, lies to convince the american people the governor who
handled the pandemic the best, balanced his economy against the health needs it is a citizens, the one who did it the best is the villain in their story meanwhile governors in california and new york who are surrendered by controversy, no time to look into those issues for 60 minutes, instead let's look into governor ron desantis and the light is obvious because ron desantis right now you have to suspect is a front runner for the republican nomination in 2020. ashley: i think you are correct. and went to get this story that i found watching this though good, the rangers game yesterday full capacity. ura texas sky looks like we are back to normal; right? >> i had a brother at that gave yesterday. yes, the first full capacity sporting event in well over a year, we can get back to normal, actually. we have been warned, fear mongering all along
the way, it's not that you shouldn't take coronaviruses seriously, you should, but whether or not it's a super bowl party were protests in the street or any public event, trump rally we were told super spreading event, texas lifted its mask mandate and we were told death warrant, every single time ashley, the data showed to be fear mongering lies. ashley: it was great to see that yesterday in texas and a new poll shows the majority of americans 55% disapprove of president biden's handling of the border crisis. 56% disapprove of the presidents handling of immigration. will, you are at a diner in a border town, what are you hearing from diner's? reporter: here at siu sensations in texas i can talk to people that have lived in the rio grande valley their entire life and they can tell you what it was like before and what it's
like now. if they can see the difference in the migration surge, so they know when the timing of this entire event happened in by the way, they can talk to the migrants themselves about why they are making the trip to america. it's clear and americans understand who is to blame for the crisis on our borders. just listen to the migrants themselves are the people here in the rio grande valley. ashley: i love the name, sweet temptations and i'm sure the breakfast is great. do they blame biden and the administration for basically opening the floodgates, will? reporter: they blame joe biden for creating the incentive for people to come to the us. i was talking to a retired chief of border patrol and he said listen, if the mexico did the same thing is that you get six months free state in a hotel and probably basic income and we will get you a work visa and that those incentives in place of any country across the world, you
expect people to think i will take that. just so happened joe biden made that incentive existing in the us. why would we be surprised when people take the deal? stuart: you are absolutely right. i will take the ham and cheese omelette, wheat toast and a nice cuppa coffee. will cain, thank you. reporter: it will be a little cold after i send it to you. ashley: i will take it anyway. next case, attorney general in arizona is calling on vice president harris to come down and talk the southern border. take a listen. >> joe biden's language essentially telling everyone they have a green light, don't believe me if you talk to the border patrol agents, talk to the sheriffs they will tell you people they encounter say they think joe biden is welcoming them to the country and that's why vice president harris needs to come down and see for herself and talk to people in the sheriffs, local officials to see
what's going on. ashley: so far that has not happened and it's been 13 days since the vice president was passed to lead the border crisis response and she still has not called a news conference. let's get back to the markets, check them and bring in ed yardeni. slightly lower on the dow jones yesterday. nasdaq basically fat. you say we are in the mother of all melt tops. >> yes, we are. it's been going on for a while but it's accelerating. the fundamentals of the us economy and earnings are good, but the valuation multiples that we are putting on these earnings think you kind of wonder if we are flying too close to the sun. the reality is, the forward valuation for the s&p 500 has been running around 22, for the past year or so when you look at other valuation metrics and
they are well above anything we've had in the past, so we are sold -- it's amazing we have no con nosebleeds from being at these altitudes. ashley: we just got a blow about jobs report, services sector is on fire, the vaccine rollout seems to be coming along fine, the fed is still accommodating and if you have all these things going, i mean, in the short term the only way is up, but i guess my question is, when do we have to pay the piper so to speak? >> well, on a short-term basis i thought the market could continue to make new highs and continue in this melt up situation through the end of april and it's pretty simple why a man is people started getting checks. from what i read in the papers today 130 million americans have caught in their deposits of $1400 and there will be over 250 million people
getting that money and its liquidity. the measure of the money supply that the fed publishes is up $4.2 trillion in february before the checks so it's an amazing amount money. kind of floating on a sea of liquidity is what's going on here. ashley: we are indeed. quickly, janet yellen's global minimum corporate tax rates proposal, what do you make of that especially as we are proposing are the biden administration wants 28% and now she's can go around the world saying you have to have a minimum. what's your thoughts? >> at minimum is around 20% or so which is odd and she's asking for a minimum of 20% and lobbying for 28% tax rate here which still puts at us at a disadvantage. i think she just wants to make sure no one out there in terms of competitive countries lowers their taxes and
makes their environment more business friendly than the united states, which wants to turn the environment less business friendly. ashley: interesting to me, it's basically conceding listen we are going up and we don't want to be so uncompetitive that our companies will come to you, i mean, i think it's an admission that tax rate is going up too much. have to leave it there. ed yardeni, thank you. >> think you. ashley: pierce morgan breaking his silence against the woke mom that forced him to literally walkway from his job. roll it. >> i was going to be damned if i was going to apologize for something that i believe. ashley: he did not back down and from his fierce criticisms of prince harry and meghan markle.
meghan markle in particular and we have more than interview with force-- pierce morgan coming up in meantime governor of texas is following florida's lead by banning vaccine passports. we will have the details on that, but first checking the futures slightly flat to lower opening. we will have more "varney & co." after this. ♪♪ ♪♪ ? some say this is my greatest challenge ever. governments in record debt; inflation rising and currencies falling. but i've seen centuries of rises and falls. i had a love affair with tulips once. lived through the crash of '29 and early dot-com hype. watched mortgages play the villain beside a true greek tragedy. and now here i am, with one companion that's been with me for millennia;
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with us momentarily, getting all the technical issues correct laying down the law prohibiting state agencies from creating a vaccine passport requirement, not in texas he says and says vaccines are voluntary and never forced adding quote government should not require any taxing to show proof of vaccination and reveal private health information just to go about their daily lives. that order also prohibits organizations receiving public funds from requiring consumers to provide documentation vaccine status to receive any service or enter any place, no vaccine passports in texas. good time to bring in dr. matt mccarthy, good morning.
i see that new cases are up 20%, one of the president's former covid advisors says we are now seeing and in the middle of a fourth wave, would you agree? >> the question that comes up is, are we in a fourth wave or are we beating this because it looks like death is down, cases are going up and it turns out both the things can be true. what we have seen is that the cases are shifting from being people in their 70s and 80s down to matt people in their 20s and 30s, so we will see a lot of transmission over the next few weeks, but crucially we won't see the same level of hospitalization and hospitalization is the metric that gets us uncomfortable. i'm reading covid now, for over a year and the reason we had a lockdown was because the hospitals were getting overwhelmed. that's just not going to happen this time because we have protected the vulnerable, gotten
vaccines in the arms of people likely to show up in the er, so you will see this sort of weird next few weeks were cases they go up, but deaths would be going down and we don't have to talk about locking things down anymore. i don't expect us to be a fourth wave. ashley: very encouraging. who are you treating it more now, younger people my understanding that the variant is more contagious affecting people who are younger. is that true? >> the jury is still out on that. i have my own biases and based on what i see and what i see is a lot of people who have not yet gotten vaccinated and that's in many cases younger people and this is what i tell younger people because it comes up all the time to people sam 35 years old and this virus is a way to kill me, why would i get vaccinated and i tell them you don't get
vaccinated to save your life, you get vaccinated because of the symptoms. these of symptoms can lead to her-- or anger or queasy people who month after the fact really are feeling that well so the vaccine is an about the mortality, it's about preventing this long covid and i think that's a crucial message today. we have three vaccines authorized for emergency use and they have been well tolerated and they are dropping hospitalization rates and people on the fence about this, i strongly encourage you to get one of these vaccines. ashley: good message. wanted to talk about the uk if i could, slowly coming out of lockdown in the british prime minister boris johnson said they will be testing out a vaccine passport system. i know we just had the news from texas, but do you see the same happening here with regard to up vaccine passport or not? >> no, we won't have
vaccine passports here. a number of my colleagues will say it's a face of complete, but we don't actually have an fda approved: maxine yet. they have emergency use author of it-- authorization which is a lower bar and we don't how long protection last , so i was fully vaccinated in february. how long do you issue passports for? we don't know and 30 it's not complete protection, so there's a lot of problems here there are certain industries you could look at and say this is an industry that could use a vaccine passport in the first that comes to mind for me is the cruise industry, people getting on a ship is high risk. cdc just said we don't require vaccination to go on a cruise, so if the cruise industry doesn't issue vaccine passports, i don't think anyone else will do and if you look at a texas ranger baseball game last night, clearly they are pulling things off
without a vaccine passport and i don't expect this to be a way of life in the united states. ashley: i think that's good let's be honest the counterfeit business would be strong essentially making it worth less. thank you for joining us >> my pleasure. ashley: encouraging words appeared now the governor of new jersey phil murphy has expanded the vaccine eligibility to 16 and over beginning april 19, and that's 12 days sooner than the initial may 1, target. in new york governor cuomo is lifting the 11:00 p.m. curfew for casinos, movie theaters, bowling alleys, fitness centers, but the states 11:00 p.m. curfew for bars and restaurants and the midnight curfew for catered events remains in place of pure that's the latest on the vaccine. looking at futures as we get ready to open on wall street, heading lower but modestly so.
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ashley: welcome back. checking markets and bring in our good friend gary kaltbaum as the markets show slightly lower. gary, good morning. you say we are headed for 35000 on the dow jones. will could stop that, i don't see anything right down the short term. >> not right now. a few months ago i was on with stuart and a cast before me saw-- that they said 30000 and i said 35 and its accommodation of sinks with the virus decelerating and that access accelerating and the european central bank in our central bank printing a gargantuan $60 billion a week, so that the combination rent their that is incredible at this moment and they are still keeping rates zero to never did while the economy is kicking into gear.
on those together, that's what you see here and you even see like ibm breaking to new yearly highs, mcdonald's and finally like big tech like microsoft highs, so good stuff. keep in mind i continue to believe this is the late innings all caps and there will be-- ashley: everyone's been invited to the party, but it could end in tears. how ought-- how far off to see that if that's the case? >> i believe sometime later this year. i do believe it will be this year. there's just the combination of sony things going on and the best way to explain it is too much leverage. leverage caused the short squeeze in gamestop and it caused gargantuan drop in the hedge fund in the last couple of weeks and it's
too much leverage buildup because of the central bank and greed is feeding on grade. again there is an endgame to this a. ashley: as there always is. stay there, gary. we will tap your as we get going with the opening bell ringing and we are on our way on this tuesday. look at the big board, dow jones 30 stocks more red ink than green. the dow jones up 373, i don't think so. by the way the dow jones hit an all-time high yesterday as did the s&p, the s&p slightly lower 4070 right now. can we check the nasdaq, please? off 21 points at 13683. we call that a muted opening. also looking at big
tech, let's look, mixed bag with microsoft, off the bat down, but facebook, amazon and apple slightly higher, again a very flat opening. show me the woman not if can the biotech company surging up more than 9%. they expect to have a blowout first quarter with revenue topping $1 billion. company also say they have received record orders and significantly grew revenue in its gene sequencing business. all of that positive up close to 9%. gary what is your thoughts? >> when you have a company that has expectations in the first quarter to do 925 million and then say it will be 1.1 billion, stucco siren they also raised the numbers for the whole year so big gap for the upside and probably will go higher after that. i don't know if i would buy the 40-point gap out
of the get-go, but definitely goes on my screen today. ashley: very good. one of our favorite stocks is tesla. analysts says tesla is a minor-league player saying the stock is only worth $150 and right now it's around 690. what you say about that? >> i would like to know if that person has been saying 150 all along. look, juggernaut basically all that's happened here is when you go up seven or eight or nine fold in a year you will have corrections of 25 or 30% or more sometime and it is incorrect in that mode right now. i would not be a buyer. i would wait till it starts turning up and right now it's under resistance. that goes along with a lot of other high growth rate names right now that are bearish and really the only bearish game in the market right
now are some of the higher names. ashley: let's talk about airlines. they are on their way to recovery and we have seen more americans get the shot and more people are flying and southwest airlines just reported 209 pilots call back from extended leave. they return to active status in june and they will complete the necessary requalification training necessary, but that's an encouraging sign. what you think, are the airlines a good way? >> they had been a good play. i'm not so sure with everything building, but to be clear, the tsa checkpoints are doing 1.5 million a day about right now, they were doing 500,000 a few months ago. my son was on a flight from orlando back to new york and on sunday orlando international airport was packed and i'm hearing the same thing around and they are firming up on their
pricing and getting away from all the whispers you know on cancellations so that is good for their stocks and profits going forward as long as the virus gets the heck out of here, they will continue to do well going forward and southwest is my favorite stock right now. ashley: very good and the dreaded middle seat is coming back. let's go to the casino stocks if we can, morgan stanley says they can see of vegas come back and have upgraded mgm and is caesar's, do you see vegas returning: absolutely. people love vegas, they love the hotels, the gaming, they love losing their money there, the entertainment and i think the whole opening up of the economy, everything people used to do are going to do again in the next thing to happen only-- hopefully sooner rather than later, the cruise lines gets going and i
think they will be packed to the gills when that happens. cruise lines are so huge the state of florida. ashley: i understand there's a lot of pent-up demand. let's look if we cannot gamestop, very volatile day yesterday after announcing it would sell up to two and have million shares and up now about a quarter of a percent. what's your take on gamestop? >> i'm jealous i did not have it on the way up. i'm too afraid of it. i don't like knowing i can walk into an 80-point gap possibly the next day and i'm pretty sure in two weeks it will drop hundred 50 points in five minutes. they did a secondary smart move to raise capital and maybe get the business going again, but the bricks and mortar of the gamestop not so great. there will have to be different avenues for them, but they are now taking advantage of the
big gigantic short squeeze and i think that's the right move on their part and i think amc did the same thing, the theater chain. ashley: absolutely. let's look at credit sweeps, switzerland second biggest bank taking a huge hit from the archegos fallout, more than $4 billion that's quite a hit. top level executives have been out, what is your take on this? >> two words, looks like they did not have and that is risk management. that's why you have a couple people go bye-bye i'm always surprised and never surprised on wall street at how much leverage someone is able to obtain through this alphabet soup cdl and cmo's and whatever they come up with to enhance leverage and to find out how much leverage they had on these stocks without owning the stock, that's the more amazing part and it
looks like on the way up like discovery and baidu in some of these names and certainly on the way down and they pay the piper and i gathered there are some others. ashley: .-dot piper is stinking rich now. gary kaltbaum, fantastic stuff, thank you. we appreciate it. great information. >> thank you. ashley: thank you. let's look at the dow jones winners, goldman, walt disney, chevron, nike are all moving modestly higher, goldman up 1%. looking at the s&p 500, alumina up more than 8%, a lot of energy place there . the nasdaq alumina again, trip.com. up 3%, fox corporation
and netflix as well up one and three quarters percent. but get to this story, colorado could be the new home for the major league baseball all-star game, that is an aerial view of denver, but there's a problem and turns out colorado's voting loss are more strict than george's. can't make this out. president biden is confident his plan to raise corporate taxes will come without any problems listen to this. >> highest tax for corporations, are you worried? >> not at all, not at all because there's no evidence of that. ashley: no evidence of that yet. i wonder if larry kudlow agrees and i will ask him when he joins us coming up and just a reminder, stuart is putting more money in the meter and he will be up soon, any minute.
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ashley: let's look at the markets. taking a bit of a breather, kind of a need to be getting and staying that way after breaking records on the dow jones and s&p yesterday. amtrak turns 50 years old next month, but in that time it has never been profitable, but $18 billion on president biden's infrastructure plan would go to rail. let's bring in edward lawrence, you are at union station in washington, so the question is where that money go? reporter: amtrak wants to expand , but as a senator president joe biden would go through those doors and take the
train from washington dc up to delaware and it now amtrak is going to be a winner, so at the $2.25 trillion in the american jobs plan as you said 80 billion will go to amtrak and almost immediately after amtrak announced expanded service. let's look at some the new line's barely specifically in the northeast, new service from brunswick maine to rockland maine and remember the only line that makes money in the whole system is between washington dc and boston through new york city and other lines pueblo colorado to cheyenne wyoming, so in 2019 when people work actually traveling on rail service in covid was not around the company operated at a $29.8 million loss, that was actually an 83% improvement over the year before in the amount of money they were losing, but still supporters of amtrak say it's worth it. >> we poor like hundred
billion dollars every year into our highway system and we don't do it because it makes the government money, we do it because it allows businesses to make money , allows individuals, private sector businesses. reporter: so, it's not about the money. transportation secretary wants to spend even more money and he's also now they share talking about modernizing the trains especially between the big cities, talking about chicago and milwaukee, houston and dallas adding high-speed rail at a high cost. we will see when the spending stops. back to you. ashley: yes, i would say never, but that's another topic. thank you, edward lawrence. hunter biden's attempt to avoid laptop from hell is starting to get well, just a bit ridiculous. watch this.
>> is that laptop yours? >> you don't need a laptop, you have a book. it's all in the book and i don't know, i truly-- >> you don't? >> the serious answer is i truly do not know the answer to that. ashley: it's in the book. it's ridiculous, talking about a huge story that the media, big tech and democrats have worked very hard to barry and we are on and we will be right back. ♪♪ ♪♪ stay restless with the icon that does the same. the rx crafted by lexus. get 0.9% apr financing on the 2021 rx 350 experience amazing at your lexus dealer.
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ashley: went again lets look at the markets, just drifting slightly lower with the dow jones off 45 points, about a 10th of a percent. once again, a reminder stuart will be here any minute, no pinocchio's, i'm telling the truth. i went to get back to the reopening story, almost 40000 people packed into the texas rangers game yesterday. it's like covid never existed. let's bring in scott, great to see you, sir. a scott, there's really no going back after reopening. this is it; right?
>> i don't think there's any going back. we won't live in bubblewrap rest of our lives. we will have variant number 860 and continue to have conspiracy stories but we will have to live with covid and flu season for the rest of our life, but unfortunately everyone was set back so much last march, april and may when way-- when they were afraid that if they got it they would die that is hard to get the psyche repaired so people can feel good about themselves. look, if you don't want to get sick or you are worried, don't go to the game, how about that? you don't have to go if you don't want to. there's no going back. we will have a very bumpy and even reopening a. ashley: and you say taxes could kill that pent-up demand in the euphoric opening of states. you say taxes will bring
us back to reality? >> definitely. this reopening isn't a trend. we are going to have six to 12% gdp growth for the next three years, we are just reopening so it's an event, not trend , but the government's going to tax it like it's a trend and so they are going to plate and lay all this money out there that they will take from us and get all these things they want done and at the end of the day the event will be over, but taxes are here to stay. the government had to do some herculean things to get us where we were with three and a half gdp in the unemployment rate at 50 year lows and we are going to wake up to a hangover of spending the streams of dollars that we really don't have an look at each other like we have these taxes on top of that and reintroduced regulation, what are we going to do now, next year could be a different year for government starts to tax us with the reopening.
that's my problem. ashley: what about inflation? we have been talking a lot about that, some guests say don't worry another say know it's a real threat. where you stand on inflation? >> well, i mean, since 2008 we've been baking, borrowing and trying to steal inflation from anyone else out there because that's-- you know if there was a planet called inflation planet we would have bought it and taken it over by now so there are parts of the economy that are inflating, the things you see on the table, food wide-- food wise has been on fire, but other places are lacking. everyone you will have on the show and have had on the show at least the last two or three months has been talking about how much money is out there, all the money the government is printing and putting in the system, i say here's the problem, we better get inflation because if we don't, everyone better have a plan b and no one
is talking about plan b because we are so sure we will get inflation, that's my worry, so when everyone is so sure of something that doesn't always work out, so have a plan b. keep an eye on the dollar and if that dollar tanks you will probably get inflation. ashley: very true. 20 back to the vaccine issue, scott. what are your thoughts on a vaccine passport with texas just announcing there's no way they will announce it in florida before texas. what are your thoughts? >> obviously i don't like the hip of violation knowing about your personal choices and what you choose to put in your body what you don't as far as medicine goes, but unfortunately we been almost preprogrammed because you had to get your vaccines to get in school when you were a kid and a lot of folks are probably comfortable with that, but here's the problem i have, it's
got to be a federal, i mean, you can't have each state have one. whose can regulate this? i mean, it's gone a-- it's would be like a new drivers license, but i think the operational thing about a vaccine passport is also a pretty daunting task and then there will be fake ones, so if you don't want to get sick, stay home. if you want to go out, get the vaccine and if you don't care, these are all choices. here's the problem, ashley, people get upset that the government is giving you back your choice. i don't understand that so if you are afraid, stay home. ashley: you got it, talking way too much sense. obviously not in chicago, you must be in arizona. thank you. now this, ups is predicting a major loss for retailers even though more states are opening up, 80000 stores
to close even after the pandemic ends saying that enduring legacy of the pandemic will be the shift to online shopping. over a quarter of store closures are predicted to come from clothing and accessories, office supply stores projected to lose 45% of their current locations are more. businesses operating, home improvement, grocery stores, auto parts stores are expected to see the least impact. the analysis assumes online penetration will grow to that-- from 18% now to 27% in the next five years with the power of online retail. still ahead, larry kudlow, bill mcgurn, then dominic and joe kashi and yes stuart varney is coming up any minute. second hour of "varney & co." is next
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from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763 10:00 on the east coast. stuart will be here in just a minute. some beatles for him. get straight to your money. guess what? seeing a little bit of green on the screen. s&p and nasdaq modestly higher. dow essentially flat, down 16 points. look at the 10-year treasury
floating around 1.71% yesterday. we're seeing that yield come down today by 2.3 basis points. 1.6% on the 10-year treasury. bitcoin just over 59,000. the market value of the cryptocurrency, the market topping $2 trillion for the first time. there is a lot of money in that for sure. take a look at this, a new op-ed from "the wall street journal." it reads asian-americans feel hate and woke narrative fits about trump, covid-19 and white supremacy. let's bring in the author of that piece, bill mcgurn. good morning to you. make your case. >> good morning, ashley. my case we know there have been outrageous attacks on asian-americans, right? in new york we had a brutal
beatdown of a 65-year-old filipino woman on her way to mass. a lot of people add the atlanta shootings, six women of asian decent were shot and kid. the problem everyone is trying to squeeze it into the narrative. the woke narrative that the shootings are a result of donald trump, covid and structure of white supremacy. the problem they're trying to fit every shooting into this narrative and it doesn't fit easily. for example the man in new york was african-american who knocked that woman down. hardly a supporter of white supremacy. in atlanta we still don't know what the motive was for the shooter. he seemed to have a twisted sexual fantasy he would remove temptation if he could remove
the women. ashley: yeah. it is interesting, but do you think the public at large buys that narrative, bill? that it is not only covid but it is trump, white supremacy, all part of the same thing? can we give the public more credit to see right through that? >> i give them credit. i think a lot of people are skeptical but you know, you have this whole architecture of this critical race theory coming out to explain everything and they're documenting more and more crimes. i mean one of the problems is there have been attacks on asian-americans for a long time and they basically been ignored. there is an article in 2010 in the mercury news out in california about a spate of attacks, in this case black on asian attacks in that area. it is not new. it is hard, so relentless, you hardly see someone saying let's
find out what the facts are. it is meant to override the facts, to leave an impression and it is everywhere. ashley: continuing to blame donald trump, just continues to ratchet up the emotional level which sometimes can lead to violence which i think no one else takes responsibility for that. but i do think that is the case. >> i think that's true. look, there is no doubt, you know, probably donald trump using wuhan flu and so forth led to people in insulting everyone but read the white house memorandum on this on xenophobia. it is incredible that the the mn who says he wants to heal the country is basically saying his predecessor is responsible for all these horrible things. maybe it is not that surprising joe biden accused donald trump of starving children at the border. this is not the way to heal the nation. it is not the way to get to truth what we want. stuart, ash, the real piece on
this, is a lot of people promoting this narrative want to ignore, for example, discrimination in places like harvard against asian-americans applicants. ashley: that is a very good point, bill and well-said. we'll have to leave it there. but thanks so much for joining us this morning. we do appreciate it. on a difficult subject. >> thanks, ash. ashley: guess what, look who is here as promised, the one, the only stuart varney any. good morning, stu. stuart: ashley, thank you very much indeed. you bailed me out of a very difficult situation. i'm eternally in your debt but i never pay up. thank you, ash. you're a good man, no matter what they say. check the markets for my benefit and yours. we have a slight downside move for the dow's industrials after a record high yesterday. we have the s&p moving slightly higher after a record high yesterday. a nice gain for the nasdaq
again, it is up in part because the yield on the 10-year treasury is way below 1.7%. all right, everybody, that is the market. now this. it was early march. the players championship in florida. splashed across our tv screens, crowds of people watching the golf in person. a first look what appeared to be a something like normal. at the super bowl in tampa bay, florida, 25,000 people in attendance. you could hear them. not quite normal but, getting there. then last night, the texas rangers home opener to the bluejays, 3thousand people in in the stands, shoulder to shoulder. not everyone wore a mask. if there was a moment when you watch tv we're back, that is it. instead of cardboard cutouts to make it look like a stadium is filled, instead of piped in
crowd noise, instead of all of that, viewers got to see, hear return to normal. you can see it, hear it. we see the impact of mass vaccination. we see people enjoying their freedom. there may be scares about a fourth wave or new variants and democrats may urge caution about reopening but there is really no going back. let's bring in larry kudlow, my friend and colleague. he is a colleague now. he is at fox business. larry, great to see you. sorry i'm so delayed. my apologies for that. but what do you say? we're opening up, there is no going back and republicans are showing the way? >> yeah. well the reopening is terrific. john karl lows stanton hit a home run for the yankees. beat baltimore. baltimore came from three straight wins over the red sox. i'm a happy camper. if the stadium is not there, we'll get there we'll get there.
new york is a very weird place, taxing everything that moves because of its socialist legislature. you never know about yankee stadium, i hope it gets full. reopen. the vaccine is everything. it is the only real source of stimulus. stuart: i want to talk to you about what could be a new stimulus package down the road. we got the $1.9 trillion covid plan. the 2 1/2 trillion dollar so-called infrastructure plan. i'm told there is another one coming down the pike from the far left which will in my opinion amount to a universal basic income scheme. are you with me on this? >> well, you know, it is important topic because they're talking about this additional bill, called social infrastructure got that? social infrastructure. and a lot of people suspect that it might lead to a universal basic income. a lot of the centers around the child tax credit being expanded
and made permanent, okay? now the expansion was in the first covid bill but there might be another one, some sort of correction bill i guess and you know, that would run over a trillion dollars over 10 years and the tragedy of that is there is no work requirement whatsoever. and other possibilities include the child dependent tax credit and various welfare measures. now you know, i don't know if this can be stopped, to be honest with you, they will use reconciliation, 51 votes. we'll see when details are published but a universal basic income would be expansion of the welfare state, way bigger than the great society stuff. it would be very harmful to the work ethic. very harmful to the economy. it will not, let me underscore this, it will not move people out of poverty for the simple reason that the best welfare is
a good job and the clinton-gingrich plan of 25 years ago had work requirements. it worked. people got out of poverty. the employment ratios went up, everything was great. democrats right now on the far left want to end all of that and it would be a tragedy, absolute tragedy. stuart: quickly on new york, and new york state and city, there is talk of raising taxes on the rich. i don't think that is going to bring people back to new york city and new york state but what about if they repealed salt? if they made all the local taxes deductible against your federal income tax return, the way it used to be? that would mitigate the tax increases that are proposed for new york, wouldn't it? >> well, yes, yes and no. first of all states around the rest of the country object to having their funds subsidizing
new york and new jersey and california and illinois. i think you've got five or six states that are in favor of this because it lets the states tax more, because you get a deduction. so the penalties are somewhat ameliorated. it also lets them spend more and lets them ruin their local economies. first of all, i don't think it will pass, "salt," i don't think it will ever get through. this crazy new york story, the state legislature, run by left-wingers, run by socialists, it will raise tax rates as highest in the country at exactly the time, stu, exactly the moment we're trying to bring people back from florida to go back to work to reinvigorate the city's economy. this couldn't happen at a worse time. do not count on salt to bail out the state of new york. i don't think it should happen. i think it is lousy tax policy,
honestly. get rid of all the crazy deductions and credits, lower tax rates across the board. lower the rates, broaden the base. create incentives to work, save, invest, reward success, stop penalizing it for heavens sakes. stuart: you got it. larry kudlow. thanks for joining us. we're watching you this afternoon, "kudlow" 4:00 p.m. eastern fox business weekdays, thanks for being with us. sure thing, senate minority leader, that would be mitch mcconnell, he has a warning for chief executives speaking out on georgia's election law. watch this. >> my advice to the corporate ceos of america is to stay out of politics. don't pick sides in these big fights. stuart: yeah. stay out. don't pick sides. georgia congressman buddy carter says, these ceo's are either
uninformed or just plain cowardly. he is on the show shortly. first many accusing "60 minutes" of taking out a hit piece on the governor of florida, ron desantis. watch this. >> publix as you know donated $100,000 to your campaign and then you rewarded them with the exclusive rights to the distribute the vaccination in palm beach. >> what you're say something wrong. >> how is that not pay-to-play? >> that is a fake narrative. stuart: rewards, desantis responding at length this mornings. we have the full story after this. ♪. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming.
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>> americans don't believe corporate media anymore for precisely this reason. they edited out all the key facts. i gave a very detailed two minute response at the press conference. they he had ited out all the facts. they're basically ambulance chasers with a microphone. they are not trustworthy. they lie. we know they're lying. stuart: there you have it, that was the governor the florida, ron desantis, responding to that "60 minutes" hit piece. that hit piece accused him of a pay-to-play scheme. ed rensi is with us. ed, you're in florida, you know the story about publix and the governor. what do you make of all this? >> it is clearly the socialists and their propaganda machines are slanting the view of governor ron desantis. he is a very bright man. he has a lot of common sense. he is a patriot. he loves the state of florida and his people. he exercised his authority appropriately with balance. it is just a hatchet job.. they fhim becauseess a a
g dd tr dump f dum t f the goi t for forsiornt on theof the tays. d he il l bel be hard to beatecause he ihe qlitylityli guy t t t t los iss nt cry covesov i iuasery populopul in i i fl idflfl s ixpopularlarr florida mea a a ait pieitit like thatti notoit to do to do anybody anyby good. re ihe os o for for you, you, y. prestenen b benenaysherere io ev id corporate trateaxra hik hik uldul h tconomy butbut but ou s busin bess? atwh we ae impact on o ohem? >>ellllook, we're wririinggg g lliollnsio oollars a week to fund all of this stimulus. people are getting money for doing absolutely nothing. we are awash in cash. one of these days this is going to come home to roost. every time you print a dollar bill, yesterday's dollar bill loses value. we're headed for inflation. no way to keep this up
permanently. we're not in a booming recovery. we're recovering from a pandemic disaster. once that bubble is over with, we'll be back to reality. biden is crazy. i don't understand, he can't believe what he saying. he can't be that ignorant. when you raise taxes, the old saying is, you can't tax people into prosperity. the government is bloated across this country like, it is hard to imagine. we are going to pay a price for this one much these days. it will be inflation, devaluation of the dollar. we won't be competitive internationally. it is nonsense and i don't understand why people of good common sense don't stand up and call these guys out on this. these politicians are destroying this country. stuart: caution, ed rensi, about how you describe the president of the united states. just bear that in mind, please, ed. stay there for a second. i will digress to another subject, which i want your
comment on in a minute. drive-thrus, big pandemic winner. drivers looking for contactless access to restaurants. lydia hu is with us. she is at a diner in clinton, new jersey. lydia, a diner with a drive-thru? that is new to me. reporter: new to me. it is such a great thing because you know what, stuart? i happy eggs over easy is your favorite dish. that is what we ordered here, i hope that is okay. clinton station diner, give your order, pay at the pay station where miss ellie is manning the cash register. thank you, miss ellie. she will give a parking lot spot assigned to you. you will straight for your food. this is the rise in drive-thrus as people craving good eats. they didn't want to have the human contact. the owner here at clinton station diner said since he installed the drive-thru here in february, he is already seeing
an increase in his revenue coming through the door in terms of thousands, hopes that it grows over time. he is optimistic about this addition. but allen and associates, that is a firm down in florida -- look at this, our food already up. speedy service. it looks delicious. >> enjoy your meal. reporter: thank you very much. experts tell us having a drive-thru can bring in a lot of money. 10 to 30% of profits added at door with drive-thru. big corporate chains like chipotle is taking note. this seems like the wave of the future. how they ride out theories of the pandemic, possibly into the future. i'm looking forward to eat being this. i hope you come out to clinton to join us. smells really good. stuart: if you're not careful, i will. good story, lydia. you can eat my eggs for me. reporter: thank you. ed, you had a lot to do with the
restaurant industry. you heard lydia's report, a drive-thru at a diner, here to stay? good business? >> well obviously we're going to do what we have to do to serve the consumer under these very difficult circumstances with the pandemic. will it last long term? one of the things about eating out is socialization. people need to see each other, join together. it is a celebration of life. the drive-thru eating alone gets pretty old after a while. drive-thrus are convenience for time compressed people. 26 to 35% of the business going through the drive thank you are people on the run. when it comes time for dinner, when it comes time for a sunday brunch, people want to sit down together, have conversation, discuss events of the day, family business. so i think long-term they're going to exist. i think people will use them but not to the extent we are today. curbside pickup i think is going to be important for a long time because there is a lot of people
that are mobility restricted, can't go out in public because they have some kind of a communicable disease. they have some of their immune system issues. so i think that will be beneficial. i think restaurants have learned how to do curbside pickup. done it effectively. i think that is going to be here to stay. look, the world always changes. we're going to bend and flow, move with the wind. as we need to change our business models we'll change them. i think the pandemic forced us to move a lot quicker than we normally would have. i think the benefit of everyone. it saved our economy in a lot of ways actually. stuart: it changed things real fast. that is a fact. ed rensi, thank you very much indeed. we'll see you real soon. piers morgan he is not caving to the woke mob that forced him to walk off the set of his own show. watch this. >> my gut was, i was going to be damned if i was going to
apologize for something that i believe. stuart: hmmm. he is not walking away from his criticisms of harry and meghan either. we have the exclusive interview for you just ahead. first enrollment in public schools dropping. i say the teachers unions are to blame. that story as welcoming up next. ♪. trelegy for copd.
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stuart: whoa, show me those markets and i will show you green up and down the line here. we have a turnaround. dow, s&p, nasdaqs all now on the upside couple of reasons for that. the yield on the 10-year treasury is down to 1.67%. technology stocks like that. we got a interesting jobs opening number, top of 10:00 hour. 7.36 million jobs are open and available in this country. that is the highest level in a very long time. speaks volumes about getting back to business, getting back to work after the pandemic. however we are seeing teacher layoffs across the country. this is in part due to declining
enrollment in public schools. i want to bring in naomi schaefer riley, education expert, i want to know big picture, naomi, what does public education look like one year from now? >> well i think public education is actually smaller one year from now. those teachers are being laid off because we pay districts to educate a certain number of kids. as they lose children, statistics show two million kids who are now not enrolled in school who were enrolled last year, as those numbers go down, we're going to start firing teachers. one hopes this sends a message to the unions that this strategy of keeping schools closed has consequences. stuart: do you think at any possibility at some point we will deunionize public schools in america? >> i think that might be a state by state issue. i think that right now in the biggest cities in this country that are controlled by democratic mayors and city
councils, who are paid, you know, who receive large campaign contributions from the unions, there is little chance that they are really going to put much distance from themselves bawls they need those millions of dollars and the votes frankly that the union can bring into them. stuart: but they feel safe. the unions feel safe with joe biden as the president. they have got an enormous amount of money going forward. i think it is about $130 billion going to them. i guess they just feel safe. they feel they can do what they like because the democrats are in power around they run local politics. is that it? >> absolutely. i think what you're seeing in some ways is the federal government is working to expand the power of the teachers unions. a lot of the numbers that are coming in from the infrastructure payments are going toward early childhood education which is sort of an expansion of the teachers union power. many of these early childhood,
the pre-k groups, are actually also unionized and if they're not, the teachers unions are working to get them unionized. so you know, these unions which are of course in many cases doing a terrible job educating your kids from the age of five to 18, now want to start the process at 3. the federal government will support them of that. stuart: also a question of what they are being taught. what is being taught in our public schools. there is something called critical race theory. is that now, i know you're laughing but is that what is now being taught to our youngsters? >> across the country unfortunately that is being inserted into the curriculum in public schools. it is this idea that there is systemic racism everywhere. that black and hispanic and other people of color are going to be forever oppressed. that they cannot succeed in this country and that it is the duty of white people and white
parents to apologize constantly and to pay reparations for the past poor treatment of people of color in this country and instead of teaching you know, there is racism in this country but many people have worked very hard so that we have reached a great level of tolerance in this country, greater than almost any country in the world, instead of teaching that positive message and the message that anyone can succeed, we're literally teaching kids, you are bound for failure. stuart: this is just awful. i wish i had more time because i think this is a major issue for every parent in this country. this is a very big deal. spend more time. >> absolutely. stuart: we'll bring you back, naomi, because you talk sense on this. we appreciate it. naomi schaefer riley. she will be back. now this senate minority leader mitch mcconnell speaking out against the corporate reaction to georgia's new voting law. what is he saying, ashley?
ashley: stu, he isblast be companies parroting joe biden's claim that the new georgia voting law is a racism. he says from election law, environmentalism, radical social agendas, to the second amendment, parts of the private sector keep dabbling and behaving like awoke parallel government. corporations will invite serious consequences if they become a vehicle for far left mobs to hijack our country from outside the constitutional order. look, major league baseball pulled this year's all-star game out of georgia and companies including jpmorgan and delta air lines have condemned the voting law. but mcconnell calls the criticism hypocrisy, pointing out that wealthy corporations have no problem operating in new york which by the way has fewer days of early voting than georgia, requires excuses for
absentee ballots as well. mcconnell says, no consistent or factual standard is being applied. okay. stuart: one more for you, ash. speaker pelosi and her husband could benefit, profit personally from president biden's spending bill. tell us how that happens. ashley: well, yes. president biden's massive spending bill includes $174 billion for subsidies for electric vehicles, charging stations and similar policies. pelosi's husband, paul pelosi invested between half a million and one million dollars in tesla, which of course will be a big winner if biden's plan passes. now due to her husband's massive investment of course mrs. pelosi could also be a big winner. now congressional spouses are legally allowed to invest if firms that their lawmaker husbands or wives work to regulate but the non-lawmaker
cannot act on information given to them. not saying that is happening here. nancy pelosi's office told fox news that the speaker did not have any involvement with the purchases nor prior knowledge of them. so that is that story, stu. stuart: what i noticed in your report there, ashley, $174 billion for electric vehicles. ashley: yes. stuart: can you imagine $174 billion? that is an enormous amount of money. ashley: that is a lot of charging stations. awful amount of money. stuart: sure is. a lot of subsidies. ash, thank you very much for standing me in this morning. i appreciate it. it will never happen again. ashley: i will make a note of that. stuart: crews racing to avoid a disaster in florida where a waste water leak forced hundreds to evacuate. we have an update on that for you. baylor cruising to victory at the big dance, first time ever, dashing gonzaga's hopes
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♪. stuart: how best to describe the current state of the markets. i would say narrowly mixed. six points down for the dow. three up for the s&p. 11 up for the nasdaq. narrowly mixed. i will put some retailers up on your screen for you. this is a mixed bag. this is largely the online folks. here is why. consumers spent $900 billion more at the online retailers, that was in 2020, 900 billion more than the brief two years. now that is according to a new report from mastercard economics institute. by the way mastercard also says that 20 to 30% of that extra
online spending will continue. how about that? next, we have vice president harris currently on her way to chicago. she is going to visit a mass vaccination site there. jeff flock is also in chicago at a separate vaccination site. he is reporting on what might be a distribution scandal in chicago? what's the story, jeff? reporter: multiple scandals unfortunately, stuart. this vaccination site outside of wrigley field. they're doing covid tests. if you spin around you can watch a baseball game. that is wrigley field. and a new vaccination site. in an effort to be more equitable who gets the vaccine. this is the entrance. we'll walk in the shade. vice president harris will be here to talk about that issue. chicago at one hospital on west side of chicago, loretta hospital, serves primarily black and brown, poor people. what did they do? they conducted vaccine
appointments for kook county husbands and wives. they were in the eligible. one. executives own ad condo at trump tower. they vaccinate ad bunch people. those people were not eligible. the city trying to improve their reputation. is you see a little bit after line. things have gone fairly smoothly. leave you with one notion, vice president harris today, when she comes to town, will be visiting a vaccine sight just for union, at least has been just for union workers. some people questioned whether that is such a good idea, but, we'll see if that opens up anymore, or if it stays all union. stuart. stuart: not supposed to say this but only time will tell. jeff flock, thank you very much indeed. we'll see you again later. reporter: thanks, stuart. stuart: look at walgreen. they're changing the timetable
for distribution of the pfizer vaccine. they had been giving the dose, the second dose four weeks after the first jab. now they're moving it up to three weeks. that is in line with cdc recommendations and presumably it will speed up the whole vaccination process. switch gears for a moment. big deal going on in florida. a breach in a containment pod in florida has crews rushing to pump out as much toxic water as possible. give me background and details, ash. ashley: it's a pretty awful situation. it is at the site of an old phosphate plant that has been leaking this contaminated water for days. now the immediate danger is a wall of water, basically washing into homes. hundreds of people are are already under evacuation orders as millions of gallons of toxic water remain basically in an unstable pond. now drones are helping to pinpoint weaknesses in the retaining wall, as you can see
from here, as two to three million gallons per day of this contaminated water. where is it flowing? flowing right into tampa bay, which of course poses a significant threat to the environment. that is awful. but there are fears that, you know, if this completely breaks down, then the flooding would occur and the type of water we're talking abouts extremely toxic. not a great situation at all. stuart: all right. did you by any chance, ashley catch the game last night, baylor beat gonzaga, ncaa basketball? ashley: yeah. first time to win it all. stuart: first time ever? ashley: first time ever. if you watch the gonzaga, ucla game. maybe gonzaga had a hangover from the final four game. baylor bears, take nothing away from them, celebrating their first national championship.
they beat previously undefeated gonzaga bulldogs, 86-70. not since 1979 has an undefeated team lost the game. to rub wound forgone forgone saga. baylor held gonzaga to a season low point total. they were very, very good. sweet revenge for baylor, who were eliminated by gonzaga in the second round two years ago. there was no championship game last year because of the pandemic. congratulations to baylor. the coach said the better the opponent the better they play. they certainly showed that in the final last night. stuart: ashley, thank you very much. georgia congressman buddy carter has harsh words for companies slamming georgia's voting law. he says they're uninformed at best, and cowardly at worst.
how about that? the congressman makes his case next. ♪ some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) seeing blood when you brush or floss can be a sign of early gum damage. new parodontax active gum repair kills plaque bacteria at the gum line to help keep the gum seal tight. new parodontax active gum repair toothpaste.
♪. stuart: still a narrowly mixed market. the dow is down a little and the nasdaq is up, et cetera, et cetera. narrowly mixed. i will leave the that. i have some big movers for you though. i will start with snap. they are moving to the upside, solid gain, nearly 6% up, $57 a share on snap. atlantic equities upgraded snap to overweight from neutral. the stock is up. illumina, biotech company, forecast strong sales and growth in the first quarter. that is a look to the future. investors love it. it is up 9%. paychex, down 6% after falling in line with revenue estimates and full-year guidance. you offer full-year guidance that ain't real good, down goes your stock. down 6% for paychex.
georgia congressman buddy carter sending a letter to facebook and. twitter ceos. if you present information in terms of misinformation it must be done in impartial manner. after seeing countless posts regarding george gas weak election integrity act. that not ways. there is only one side allow on these networks s that how it is working? >> evident it is. two weeks ago in the energy and commerce committee i serve on, we had ceos of platforms including ceo of mark zuckerberg. i asked him directly about the fact that they were silencing conserve tough voices and were they being responsible and were they being even-handed. he responded yes, they were going to do that. they were going to be across the board. well obviously he lied to my face.
he told me they were going to make sure that they were evenhandedly applying this law, applying this law. they have not done it. and they have not done it at all. look, i do not want to have to stifle innovation and to regulate the internet, however, if they don't do something, then we're going to have to do something. this is a bipartisan issue. this is something democrats feel strongly about as republicans do. but it is obvious they are not being consistent. it is obvious they are silencing conservative voices. they're allowing the misinformation and lies about georgia's new election integrity law which expands voting, it makes it easier to vote and harder to cheat. they're allowing that misinformation and lies to be on their platform. stuart: okay. i want to change subjects slightly. rob manfred, as you know, major league baseball commissioner, he has a membership at the augusta national golf club. that is a very exclusive club.
it is where the masters is going to be played this weekend. senator rubio is calling on man ford to either give up his membership or do something about it. and i understand there has been a call from in some areas, golfers should boycott the masters. what is your take on this? >> well, we can, oncer again, thank joe biden and stacey abrams and senator reverend warnock for spreading all this misinformation and lies about the election integrity act. now what is it resulting in? the all-star game being pulled out of the state of georgia. now they're talking about boycotting augusta. the commissioner of baseball is, he moves the all-star game out of the state of georgia because they wanted to show what the values of the sport are? are you serious here? if your values of the sport why don't you drop your membership to masters? i will be glad to take up that membership by the way. but, you know, it just shows hypocrisy here.
here we have the commissioner of baseball in new york state where they're criticizing the state of georgia saying that we made our laws more difficult, more stringent whereas we have 17 mandated early voting days in the state of georgia, thanks to adding an extra saturday and we can go up to 19 if you add two sundays as we allow the counties to do if they so choose. whereas in new york they have only 10. in georgia we have no excuse absentee balloting and voting n new york city, and new york state they do not have that. it is hp hypocrisy here. base only caving in to the left and all they care about is corporate sponsorships. stuart: all they are worried about their woke employees who will revolt if they don't do the right thing from the top. congressman, you want to say some more. i can feel it in you. unfortunately i'm out of time. congressman carter come back to see us soon. we appreciate it. >> thank you very much. stuart: i better tell you we've
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>> reporter: the valuation multiple we are putting on these earnings make you wonder if we are flying too close to the sun. we should have gotten nosebleeds from this. >> we will have a bumpy uneven reopening. it is an event, not a trend but the government has a tactic. >> death should be going down and don't talk about knocking things down. >> the virus d cell a grading -- ♪♪
stuart: you are looking at the empire state building. straight to the money, a terrific runoff for stocks in general. the nasdaq is up 27 point, the 10 year treasury down to one.76% on the upside this morning. and and corporations denouncing georgia's voting law. businesses taking political sides, business is taking one side, that is the left side. mitch mcconnell, senate republican leader is having
none of it saying, quote, stay out of politics or he says they invite, quote, serious consequences. doesn't know what that means but it is clear warning. why is it a supportive massive tax hikes and the green new deal. because they are afraid of their own woke generation employees, afraid of being called racist. the woke generation speaks loudly and the ceo cringes and retreats. major league baseball canceled the all-star game and moves to denver ignoring colorado's more restrictive voting rules and boycott the masters, to be played in augusta, georgia. has politics done enough damage to sport already is what damage will do to corporations. and curry favor with the democrats.
bernie sanders, aoc, senator warren, they run the democrat party. they are pulling president biden's strings, and if the corporate elite think for one moment they can appease the socialists they are sadly mistaken. the third hour of "varney and company" is about to begin. let's get some serious commentary on this, corporations are afraid of their own woke employees. >> i do agree with you and they are making a foolish error here. you know the old-line about trying to feed the crocodile hoping it will eat you last and that is what they are attempting to do, basically saying we don't want anybody
paying attention to all the choices that we made that might run afoul of these woke younger employees so we will make a big show of doing these things publicly even when there is no desire on behalf of the players union to make a move like this was the inevitable consequence is these corporations traditionally respected by republicans in america those on the right being motivated by profit above all and because of that, being interest in serving everyone within a community, not just one side of the political spectrum, the product will be increasingly politicized and there will be long-term consequences which was with mitch mcconnell was warning about. stuart: atlanta has 30% of its business is black owned, goes to denver where the vast
majority of businesses are white owned, seems like a self-defeating prophecy. >> the working-class people of america, city that famous in terms of black community, culture and everything associated with that it and you will rip that up, move it to colorado which has more restrictive laws, absolutely self-defeating and shortsighted. and this is a temporary result of woke younger people, and something we indoor long-term. we will see so many elements of american life to stand next to each other regardless of racial or anything else and cheer on your home team. go away and leave behind fractured communities.
stuart: separate issue look at this poll, 55% of people disapprove of president biden's handling of border security. kamala harris has been absent on the border. where has she been? >> she certainly isn't doing her job in terms of taking this issue on. i wondered at the time if this was a situation where she was being set up to fail in a certain respect because this is such a difficult issue. this was happening under any other administration the media would be lambasting them for these developments and showing this issue over and over on the front pages. instead they are doing their best to look away and not highlight what is going on at the border. very few people are starting to learn about the nature of this and wrap their arms, and and
they have no plan of dealing with it. >> hunter biden doubling down on claims he doesn't know if the infamous laptop from hell belongs to him. look at this. >> is that laptop yours? >> you don't need a laptop, you've got a book. i don't know. i don't know. the serious answer is i do not know the answer to that. >> what is your reaction to that? >> hunter biden if his name wasn't biden would probably be in jail for all the things he has done over the years. this me answering on the laptop is ludicrous. of course he knows whether it is his or not, it is a situation there trying to play on the sympathies of people by talking about his story of addiction, it is a serious problem, mental health crisis
as well but also something that can't be used as an excuse for behavior that is ethically and politically questionable the deserved more attention and big tech did their best in the waning days of the 2020 campaign. stuart: so little time. thanks for being here. look at the market, the dow is down, nasdaq up 20. the s&p up two. david lefkowitz joins us now. are you real bullish for the markets. you have the expression melt up used on this program. are we in a melt up a situation? >> the markets on the balance of the year. the s&p 500, the broadest gauge of the stock market, up 9% year to date, that is -- 9% for the full year would be good.
we have a pretty good move in a short time, it has been astounding. there is a bit more upside to go, the market has a pretty good run not just this year. >> a lot of people i talked to are worried about mid year, june, july, august when you see the expansion in the economy and back to work and money flowing all over the place they are very worried at that point you get a very nasty correction. any comment on that? >> don't think will be a nasty correction. what is powering this market has been the expectation that we will see a powerful earnings recovery and we are on the cusp
of first-quarter earnings season, and bear in mind the economy is still not fully reopen. that suggests to people, and the power of the market continuation to rise, is strong. to get a substantial selloff, the growth of any priority, to be worried about a recession and that only happens if the fed is getting concerned about inflation and stepping on the brakes. we are so far from that happening, what you sort of describe is pretty unlikely. stuart: i couldn't think of a better expression than nasty correction. you've made us feel a little bit better.
changing the subject two men on the terror watch list arrested at the southern border. tomi lahren just got back from the border and tell us what she saw coming up. 60 minutes under fire for this report on florida's vaccine distribution. watch this. >> publics donated 100,$000 to your campaign and you rewarded them with the exclusive rights to distribute the vaccine. >> that is a fake narrative. stuart: that was a hit job from 60 minutes. the governor has responded. we will tell you what he is saying after this. ♪♪
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i am not a victim and i haven't been canceled. i look at this cancel culture. it is a real thing, this woke mob want to cancel people who do not follow the narrative. it is gotten increasingly dangerous. stuart: there you saw it, pierce morgan on tucker carlson obviously condemning the woke mob. what else did he tell tucker. ashley: lots of things. morgan says he has been vilified and labeled a racist for not believing megan markel's account of life within britain's royal family. as you may remember in a sitdown interview with oprah winfrey markel suggested the queen is a racist monarchy. morgan said he didn't believe markel's claims that abruptly quit his anchor job with good morning britain after arguing with a colleague and walking offset during a live broadcast and says he didn't return because he refused to apologize. take a listen.
>> i was corralled into a position where i was told you either got to apologize for effectively disbelieving megan markel's version of events all your position is untenable and you have to leave. my gut was i was going to be damned if i was going to apologize for something that i believe. ashley: and he didn't apologize. morgan says whether or not people around the world like queen elizabeth ii or the idea of a monarchy in the first place, the royal demand and has proven to be deserving of international respect. stuart: do you know the feeling in britain, his conflict with megan. ashley: the camp is split. some people say he is right but they don't believe everything megan markel has said and a little bit of defending the
queen in all of this, more sympathy for that but in britain they don't like pierce morgan, say he is a blowhard that likes to be in the middle of the controversy but a lot of what morgan says i tend to agree with and he has taken a stand and says no, i'm not going to apologize, this is what i believe. stuart: i am with you on this and pierce morgan too. i have more on prince harry and megan. they just landed their first netflix show, a dock you series about a sporting event for servicemembers. harry will appear on the show and will serve as executive producer. now this. the governor of florida ron desantis just responded to the 60 minutes report which accused him of paid to play with the
vaccine rollout and distribution. role tape. >> americans don't believe corporate media for precisely this reason, they edited out all the key facts. they are ambulance chases with a microphone. they are not trustworthy, they live. we know they are lying, we know they know they are lying. stuart: let's bring in joe concha. did 60 minutes lie? >> according to palm beach mayor david koerner they should be ashamed. to your question what they said was intentionally wrong, another way of saying they lied or at least it was a lie in terms of the bias of omission. ron desantis gave a 2-minute answer to a question around why publics in this case was chosen as far as being part of the vaccine effort getting out to different communities. he explained there are 800 publics in the state of florida alone, like starbucks in new york, you can't go far without running into one and also
publics is the number one most trusted company in the united states according to axioms. good to have a publics there saying this is okay. when you consider that 80% of the covid deaths in florida are with people 65 and older and desantis prioritize those folks get the vaccine first it seemed to do everything right because i look at the numbers, this isn't my opinion, cases are down 80% since the beginning of the are for 65 and older, hospitalizations down 50% so ron desantis appeared to do the right things here as far as getting the vaccine out but 60 minutes decided they weren't going to show his answer in full, talked about time constraints around the reason why and you can't find too many people defending 60 minutes and democrats defending desantis. it is quite a situation going on.
stuart: it is incredible that 60 minutes should have a go at a very popular governor who has been wildly successful in beating back the pandemic but not going after cuomo, a democrat in new york state under some, democrat in california who is being recalled. i have to believe they went after desantis because he is a republican and might be a presidential candidate. >> he is absolutely. talk to any trump supporter at a majority of them overwhelming majority save not trump and desantis is absolutely my choice. he's seen as a threat for the nomination but your point around cuomo why would 60 minutes which is based on new york ever want to investigate him or do a report on him? only two investigations going on in terms of the nursing home cover-up as far as numbers on the federal and state level and ron desantis, 17,000 less
deaths in florida than in new york when you consider florida has a larger population and older population and four major cities that is quite a story. in terms of juxtaposing the florida performance against the new york performance where the governor also was accused by 9 women of sexual harassment and misconduct yet for whatever reason 60 minutes doesn't deem that a story, instead they create a story for desantis and it is blowing up in their face, boomerang effect for desantis, more powerful as a national figure and possible nominee than he was before this report came out. stuart: i think you are right. one quick thing here. take a look at this. president biden standing next to the easter bunny in a giant facemask. i think you've got something to say about this. >> i don't, not much. it is fine. i don't know the bunny has to be in a facemask. heaven seen any covid positive bunnies, any science around that. it is to send a message all
kids should wear their masks. with joe biden you have plenty to criticize, four pinocchios for his claim around georgia laws and the press conference last week, the bunny thing i will sit this one out and pick what hills you want to die on. stuart: didn't use with -- it out twitter for lent, gave it up 100%? how did it go? >> it went well to the point i was getting some texts from people when are you going to go back, it is monday, lent is over, i am in no rush to go back. when i am on a playground looking at my twitter feed instead of playing with my kids or eating dinner with my wife at home looking at twitter or facebook that is a problem. if i go back it will be on a limited basis but i got to be honest. stuart: i do not have an account and never regretted it.
you are all right. tom brady, a good time at the super bowl parade, remember that one. they are celebrating a more family-friendly way. the all-star game in georgia, small businesses were counting on tourists to spend some money. one restaurant under causing devastating, he is on the show next. ♪♪ we started with computers.
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the house in georgia voted to strip delta, one of the companies that was unspoken about this voting law of millions of dollars in tax breaks. the georgia senate is waiting to weigh in on that so it is not gone to the governor's desk but one example how local politicians could have an impact on corporations the decided to put themselves in the middle of politics but even here on capitol hill republicans are calling major league baseball's blessed moving the all-star game from georgia to colorado. marco rubio calling out the commissioner to practice what he preaches, writing, quote, i'm under no illusion, that you are going to resign from the augusta national golf club. to do so would require a personal sacrifice as opposed to the woke corporate virtue signaling, moving from the all-star game from atlanta but the decision to move the game
from atlanta has a major impact on the local economy, according to one tourism official leave a gaping hole of revenue they expected to get in besides $100 million but would have a major impact on the majority-owned, with businesses in atlanta being black owned businesses. stuart: have local impact indeed. major league baseball moving its all-star game from atlanta to denver, colorado because of georgia's new voting law. the owner of manwell's tavern in atlanta, what does this mean to you and your business? >> glad to be on with you. it is devastating to our business and a lot of businesses. we have been holding on since
covid happened, with our fingernails and keeping our businesses running with duct tape and bubblegum trying to make ends meet and we are looking forward to this. it was psychologically to have the game come back was a big indication of things hopefully getting back to normal and to have it pulled away from us seems very unfair, it seems very quick. particularly when delta and other major corporations participated in the process. they checked the temperature of the public on it, it feels wrong, feels dirty. >> how much when we would you have taken in at your tavern of the all-star game has been played in atlanta.
how much money would you have taken in, do you think? >> that is a hard thing to say. i would imagine the current climate would have been an extra 6000, just that one day alone just for the game. they would have planned promotions, with discounts and different things like that. all of that is gone, we were told we couldn't do anything in atlanta and it was the most quiet event you ever heard of. you wouldn't have known that it happened. stuart: do you think of the idea of politics and sport. >> politics creeps its way into anything particularly if
there's a lot of money attached to it. politics is involved in major sporting events. a quick judgment, without a lot of research into it. this voting bill as i understand it, there's been a lot of false headlines about it creating a bunch of buzz and a large segment of the community to respond to misleading headlines then immediately turned everybody against it. we have more days to vote in the state of florida -- georgia than we had previously. we have more than many other states, more than where they are moving the game to which is denver. i see it as an expansion of
voting in georgia and easier access. that my interpretation from everything i read so to lose the game to false information is painful and unfair. stuart: we hear you and we thank you for joining us. a look in atlanta. >> i would be happy to buy you a beer. stuart: i will pay double. see you later, thanks very much. all right, chicago opening a massive vaccination site just outside wrigley field where the cubs play. vice president harris is headed to chicago. she is touring a vaccination site and attending an event focusing on vaccine distribution in that city. that is in chicago.
walgreens changing how they give out the pfizer vaccine. what are they doing? ashley: walgreens was given the second dose of the vaccine a week after federal guidelines say it should be ideally delivered. the drugstore providing the second dose of pfizer four weeks after the first. federal guidelines say it should be three weeks, the extra time not believed to be a problem but the cdc asked the drugstore chain to follow its guidelines and walgreens says it will change its vaccine schedule but interestingly if you read on some countries including canada and the uk are delaying the second dose by months referring to deliver as many first doses as possible was a different way of thinking outside the us. stuart: europe has a problem with vaccine distribution and a vaccination rate is lagging.
thanks very much indeed. the governor of texas, greg abbott, issued an executive order banning vaccine passports. abbott joins florida's governor desantis who issued a similar order. yesterday doctor anthony fauci said the federal government will not require vaccine passports. then there is this. amtrak is set to get $80 billion from president biden's infrastructure plan. the railway is only profitable in the northeast. is it worth all that taxpayer money? a report on it coming up next. ♪♪
stuart: amtrak will get $80 billion from president biden's infrastructure plan. edward lawrence will join us from union station in dc. >> it is a small portion of the money in that greater package with a lot of other stuff in it. in the infrastructure package, the $2.5 trillion package. immediately after this announcement they decided to expand service from 2025, in the chicago to idaho, why not north dakota, and montana, looks at the pronunciation of that, none of these services
make even. in 2019 when people were traveling on amtrak the company lost $29.8 million at 83% decrease in the amount of loss from the year before but people who support the real and amtrak say that is not the point. >> infrastructure generally speaking isn't a revenue source. when we built our highway system and even today. it is a capital-intensive, and >> republicans, it is part of an infrastructural package. the rail stuff, 35% of it.
stuart: $80 billion, pretty soon talking money. and 1.5 million travelers. and 108,000 flyers and last year. i doubt there is any impact from this, they are going to train new pilots at the academy in phoenix, united plans to hire 10,000 pilots in 2030. they are asking cdc for clearance to sail from us ports on july 4th. ships will be 60% capacity. all guests are fully vaccinated.
a short trip for tom brady to celebrate his seventh super bowl championship. where did he go? >> a familiar phrase after winning the super bowl. i am going to disney world which is the most magical place on earth because disneyland is the happiest place on earth. and how to wait, at the star wars attraction with his life sender, galaxies edge, there he goes, very imposing. for brady, a regular visit, one of 7 times, going to disney world again and there he is.
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>> it is 13 days since vice president harris was tapped to be the border crisis response, still no news conference for 13 days. tomi lahren is with us, tomi lahren went to the border last week. tell us what you saw, what harris would have seen. >> i didn't see kamala there. she is very busy with her mention renovations.
i didn't see her down there. those are -- that is the wall that was completed under the trump administration and you see areas where there is not a wall because of joe biden halting construction on the wall. understand that has been bought and paid for. that equip and, those materials bought and paid for but they are not being put up, not securing the border because of partisan politics, joe biden's america last agenda. normally when i go to the border i go with border patrol, eyeshadow them and go along with daily operations but because of the implied gag order i wasn't able to go with border patrol so i talked to the sheriff's department, ranchers, landowners and that is how i got more of the story and i tell you it is a crisis indeed. >> men on the terror watch list
arrested at the border. that makes this a national security issue. >> >> the unaccompanied minors. and essentially babysitting, that is when people are coming, and drugs are coming through, human trafficking, sex trafficking and opening up for a terror threat. the message has been sent to the rest of the world. if you come through now you're able to get through easily. that is not the message we want to send. stuart: reporter andy know says he left the united states because he no longer felt safe after becoming a target in antifa protests.
what you are going to speak at clemson university next week, there's an online petition thousands have signed it demanding that you be banned from campus. you say you are going to matter what. >> we have security. that is the unfortunate part of this, speakers like myself and state -- at turning point usa they spend money on security concerns can we start having a modest sized event that because of the blm associated groups and college democrats, made this a bigger event, we have to make sure everyone going and wanting to attend is safe and the event is secure. it is unfortunate because college groups have limited funding and have to spend so much money on security when people like me come and speak, come hell or high water i will
be in clemson thursday night and we will have fun and talk about backing the blue and encourage conservative students to speak their mind and speak out and move away from the indoctrination of these liberal campuses. that is what it is going to take him taking the fight to the campus is making sure our voices are heard, freeing the first amendment and that is what college should be about in time to remind them. stuart: tell us how it went please. meantime we will be watching your show, no interruption exclusively on fox nation. that is tomi lahren back with us soon i hope. forbes just-released their list of annual list of billionaires, the wealthiest person the world amazon founder jeff bezos worth $177 billion. elon musk second place, $151 billion. rounded up the top 5 millionaires, bernard arnaud, mark zuckerberg, there are 2755
billionaires in the world with collective worth of $13 trillion. quick check of the market and you will see a tiny move down for the dow but look at the level, 33,509. more varney after this. ♪♪ dance with somebody ♪♪ with somebody to love me ♪♪ want to dance with somebody ♪♪ i want you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. . .
♪. stuart: this time yesterday that market was jumping. we had a huge rally pretty much across the board. the dow and the s&p 500 closed at all-time record highs. that was yesterday. today it is not really jumping. i suppose you could say the nasdaq is doing well, up another half a percent. but still a long way away from the all-time high. here is why the nasdaq is doing quite well this morning. the yield on the 10-year treasury, all the way down to 1.66%. usually yields down, big tech up. seeing a little bit of that this morning. before we close i want to bring on ashley, bring him back on please, put him on camera. ashley: thank you very much indeed. picture this, viewers, it is about 8:50, ten minutes before the start of the show and i'm stuck, stranded technically, can't get on the air.
ashley, we scramble him. he suddenly appears. you know what, ashley? you look so relaxed all the way through. how did you do that? ashley: ah. very kind. you know you keep calm and carry on. that is the old british stiff upper lip. stuart: i'm sorry. i didn't hear what you said. i have got a producer counting me out in my ear. i couldn't hear a word. i couldn't hear a word. i'm very sorry. i knew it was. i knew it was. david asman. i didn't hear what ashley said. >> he said you're the best in the business. stuart: i will pay him the 50 bucks owe him. david: i'm david asman in for neil today. this is "coast to coast." we have two hours of jam-packed interviews. baseball and business clashing with the peach state. i will