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tv   Varney Company  FOX Business  April 28, 2021 9:00am-12:00pm EDT

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dagen: my internal gratitude to joe concha and lee carter. love you both. and that does it for us. "varney & co." starts right now. take it away, stu. stuart: in eternal gratitude, unlike that expression. good morning. we have had the $1.9 trillion coping package, received $2.3 trillion infrastructure package ended tonight almost 100 days into his administration the president lays out a $1.8 trillion family package, add it all up and that that's a $6 trillion worth of government spending. is the traditional democratic tax incentive strategy on super steroids appear to give you an idea of the magnitude of the spending, look at the proposals you will hear about tonight, just some of them
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picked $200 billion for universal preschool, 109 billion free community college, 225 billion family paid leave, 800,000,000,004 child dependent care and child tax credits, that's just part of it without question now is how much of this massive tax package will actually get past if evenly divided senate. wall street wants to know about that. as for the markets right now, it's all about big tech. today we get the financial reports of apple. of that will be all about the iphone, how is it doing and facebook and that's all about digital advertising and how is that doing. free markets, facebook is up about 2% microsoft , very strong report. analysts say not good enough. microsoft down $6 this morning. look at google, they are going to spend an extraordinary $50 billion to buy back their own stock,
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50 billion. are you watching, senator warren? they reported a huge growth in digital advertising and the stock is off and running, a company that size of 4.7% this morning. overall, modest declines pretty much across the board for the major averages with the dow jones down about 50, s&p fractional gain and nasdaq down 18 tech stocks will be reacting to the guilt of the 10 year treasury firmly back about the 1.6% level. no politics at work. a software company lays down the law. looks like they are playing defense against their own woke employees. we will take you to the arizona mexico border. a dividing team is walking away from the crisis it created. you won't hear much from the president tonight about children dumped in the desert appeared we will take you there. wednesday, april 28, 2021, varney-- "varney & co." is about to begin.
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♪♪ stuart: barracuda. here we go. president biden delivering what some are calling a bizarre response when asked why he wore a facemask outside even after the cdc said you don't have to. watch this. >> you chose to wear a mask as you walked out, what message or you sending by wearing a mask outside alone? >> watching you take off and not putting in-- back on until i get back inside the. stuart: will cain is with us from a diner in missouri appeared good to have you back with us. what's it like where you are because i understand you don't have to wear a mask indoors in missouri . what is it like given the
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president's statement in the cdc says you don't have to wear one? >> it's like an injection, maybe mainlining a dose of common sense, i mean, the cdc is only catching up to what most americans already do-- new which by the way the science backs up as well which is covid doesn't transmit by any large number whatsoever outdoors, so the cdc is catching up to america and by the way we talk too much i believe about america getting back to normal. look, the truth is west of the hudson short of california, america is back to normal but it's not supposed to be normal, we are exceptional and we have to get back to be an exceptional again. stuart: you are in a part in missouri right now that voted overwhelmingly for president trump, so i guess president biden's message at tonight is not going to be that well received. what are you hearing? >> that's what i'm hearing and again the point of doing diners for fox news is to talk to the american people to get out of the bubbles of
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d.c. and new york and hear what people think and feel, what they see. this is the show me state. they have seen policies or 100 let me reinforce for you a real world the business story that occurred over the past 100 days in places like where i am standing. i have experienced this in talladega, alabama, texas, these are small business owners who can't find help and i'm talking about an owner that's working beyond the 12 hour days, barely getting sleep because the truth is the stimulus of unemployment has dis- incentivize people and i can't find help. i have heard this message numerous times at restaurants and small businesses. we can't find the help we need. we cannot get people to work when they make more not to work so they have seen the policies and i don't know what they can hear that would change their mind. stuart: i understand that entirely and we have been hearing that from all over the country. you can't get people to go back to work when they earn
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more at home staying at home. will cain, good stuff, thank you. let's go from that to money checking futures, no clear trend. gentleman on the right hand corner of the screen is mark tepper. why do you say the markets need a breather, mark? >> breathers are healthy so the s&p is up over 11% this year. we are not even one third of the way through the year, so the market came out of the gates strong, vaccinations ramped up and states have begun to reopen plus it's stalled over the last few weeks with some really good economic data, good earnings and the market is kind of no man's land and we are about to enter a period of weak seasonality as we have all heard the phrase still in may and go away . a lot of stimulus, reopening tailwinds and now, we are kind of sitting back waiting to see what's next with these unknown risk to inflation, higher taxes and stuff like
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that so a breather is okay and healthy. as an investor use that time to high-grade your portfolio because the overall trend is still up. stuart: got it. we sometimes get into politics with you and i want to do that now. some cities around the country are starting these universal basic income schemes. what do you say that? >> i think it's awful. following up will cain i'm gonna use a lot of what he said because over the course of the last year we had a test drive, multiple stimulus packages, unbelievably high unemployment benefits and now, we see how that's impacting the economy and the reels have been abysmal, i mean, we are dis- incentivizing people from totally back to work, hurting small businesses and i have gone personally to three rounds strong's over the last three weeks with awful experience at all three. the first two had a bunch of empty tables, no servers in this past sunday they were empty tables and enough surveys but the kitchen staff
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did not show up to work. there's a mcdonald's in the florida paying $50 if you just to show up for an interview and a bunch of small business owner here's had told me they cannot fill open jobs. it's not good, we can't create a situation where everyone depends on the government and we are in the process of creating a welfare state where everyone gets paid to sit on the couch. that's not good. stuart: i'm glad to hear you do not approve of this. very glad to hear that. mark tepper, come back and talk politics again soon. let's look at microsoft. extraordinarily good-- not unchanged premarket microsoft is down four or $5, so i went to ask and bring in susan, it was a fantastic report that by all accounts so how do you explain this thing is down this morning? susan: because it has run up so much and run up into the report card shows wall street was anticipating a huge
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quarter and that's what you got. you buy on the rumor and sell on the news and as i mentioned cloud was going to be key and you saw a blowout for sewer for 50% in the first three months of this year end microsoft sells more cloud services that is legacy windows business which is a sign of the times and thanks -- thank goodness for shareholders like you more importantly this reverses the trend of sales growth declining at the cloud company and that's a big sign because it's already so big. it was a fantastic quarter all around for microsoft any loss of xbox gaming expanding by over a third thanks to the success of xbox series. also the zoom competitor impressive job to 145 daily users of 35 million in the past two months microsoft did say though, here's the fly in the ointment as they are being affected by the global
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chip shortage in fact dean-- impacting the xbox and laptops. stuart: may have something to do with analyst expectations and all that nonsense, but there you go. alphabet otherwise known as google, just look at it, at 4.7% and to me the big news is $50 billion share buyback. susan: i would say also doubling of profit has to do with it. that the monstrous quarter so investors have been pushing for the share buyback and it's easier to do when you have record of sales and a big recovery and digital advertising with growth rates high up your cloud up almost 50% of the search, gmail, map by almost a third and youtube pulled in almost 50% more in sales i spoke to the alphabet ceo who pulled the trigger on a $50 billion share buyback told me it's too early that she doesn't want to forecast and instead improvement from covenant advertising spend and she basically said they
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were laughing last year. i asked her and i thought this was pretty revealing in that google and their thoughts on real estate in the footprint because you have to remember google is spending $7 billion more office and data center space going against the highbred work trend that other companies are taking and she told me off of that again, that's huge and even with a highbred work model they need more space. when have you heard that with banks, jc-- jc-- j.p. morgan and other companies? they are expanding and that was one of the best and most spectacular earnings reports i've ever seen. susan: wow. stuart: let's have a look at the overall state of play as we headed towards the opening bell. next picture, no clear trend for stock prices as of now. companies like base camp a software company in coinbase
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are shutting down politics in the office. companies trying to regulate speech in the workplace how about that. it's happening. tomorrow marks 100 days into the biden administration. they have killed the keystone pipeline, the border crisis is a mess. we are spending like crazy. ♪♪ ♪♪
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very much in the news these days. of course, it should be tax person this has been a theme on the show for sometime now, that's business is struggling to hire workers. bring them back to work, they make more staying at home, we got that. let's go to hilary vaughn in d.c. will anything be done about this? >> it may get harder for business owners under the american family plan that president biden is going to announce this evening before congress because inside that plan it makes permanent changes to the experiment of employment insurance that business owners is is one of the factors that is a challenge for them convincing workers to come back to work because they are making more under unemployment than they would on the job, but it also comes with a lot of other things advertised as free, but comes with tax hikes, so it needs to be paid for and it's obviously not free. comes with free two years of pre-k, free two years of community college and it 12
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weeks paid family leave and also other tax credits for families but republican lawmakers are already balking at the price tag in the amount of increased federal spending that's going to this. i-- i spoke with senator john cornyn of texas and he told me it's not just the price but these changes are transforming the country into a social welfare state and making the united states look a lot more like europe. the president also announced the key tax hikes coming along with this that are expected to pay for at least some of it includes raising the top rates of 39.6% of the same rate is applied across the board for investment returns and wages, but we did hear from white house press secretary jen psaki and she said these are just ideas on how to pay for the package if congress disagrees they can come up with other ways to pay for it, but republicans are making a point that these things shouldn't be paid for it to begin.
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stuart: trouble is they will make these things permanent, those emergency payments the left wants to make them permanent. that's really a welfare state. thank you. now, as you know, $1.8 trillion family plan will be revealed tonight-- as the president addresses congress. tennessee senator marsha blackburn with us now. senator, the president's plan drags trillions of dollars to families and children, so why are you calling it the antifamily plan? >> stuart, it's the antifamily plan and as hilary just said trillions in tax increases. we used to talk about a billion here, billionaire, with joe biden it's a trillion here and a trillion there. plus, what this would do is incentivize women to rely on the federal government to organize their lives. it takes away from them the ability to organize their
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family life as they would like to organize it. i thought about-- remember that old life of julia that barack obama came out with in the "new york times" and everyone tended, this is ridiculous, well, this is what they are doing, but they are breaking it apart in a separate little pieces, 3-year old pre-k, they are going to mandate this. two years of college whether you like it or not. these are the things that take away choices from the american people . they give them a great big fat tax bill that they are going to pay and it means they will have less take-home pay in that paycheck every month the government is it just a saying we are going to take our share first and foremost, up your taxes and all of these businesses, small businesses, mom-and-pop
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shops that are there on main street, that were looking to expand, they aren't going to be able to do that. they can't again rate which directly affects all these small business employers, all of these small business manufacturers, they are in rural america, small towns. at this that will be a gut punch to these economies to get this that favors the urban, favors the rich, favors that elitist, favors those that won't-- want power and control over every single minute of your day. it's disgusting. stuart: in a evenly divided senate, he's not going to get all the proposals get through the senate, i mean, there's no way in a 50/50 split senate you cannot do that. >> well, god help us all. i hope we are able to block everything a bit of this.
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2022 cannot get here fast enough so that we see republicans regain control of the house and the senate. these guys are trying to do a fast drive it to socialism up being your taxes, federalize any elections, packing the court, the green and new deal , it is unbelievable the way they are trying to radically transform this country and quite honestly, people don't know if joe biden is really in control of this or if it is his staff and the old obama team at making these. this does not serve the american people well, and i'm going to fight it every step of the way . stuart: that was going to be my closing comment, you will fight us every step of the way. >> you better believe it . stuart: senator marsha blackburn, thank you. quick checking the market on
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this wednesday morning to see how we are doing. it's a split decision, no clear trend for stock prices so far today. joe rogan says he does not think that healthy young people should get the shot. that ignited a firestorm, which we will show you. ♪♪ ♪♪ [announcer] durán catches leonard with a big left. ♪♪ 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. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you,
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the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪
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stuart: three minutes till the opening trading this wednesday, no clear trend for stocks. big tech very much in the news because this is the week when they reported earnings. premarket, all of them are up except for microsoft. splendid report, down they go, $6 lower. it's appropriate to bring in shah gilani. [laughter] i know what you are saying. you are saying big tech is back. okay, shah gilani, what about microsoft, why is it down after a spectacular report? >> it's taking a breather. it we'll be back in a big way and i think in terms of what's happened so far, earnings yesterday was a blowout numbers for about alphabet and microsoft.
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i like the quote from microsoft yesterday and this says it all, he set over a year into the pandemic digital adoption curves are not slowing down, they are accelerating and it's just beginning. microsoft going higher. stuart: microsoft going higher, thank you. we got rid of that one. how about the rest of big tech? is a big tech is back. does that mean we go up from here even further from here? >> absolutely we can go higher. the pullback in big tech really wasn't about the interest rates rising and that would hit big tech, that's-- that was a false narrative. that would hit big tech companies that did not have positive growth in terms of revenue, but these big tech companies that we constantly talk about has every metric and they are hitting it out of the park. and they won't be affected by rising rates, which we will
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eventually see. they will continue to grow higher. stuart: when i look at tech stocks across the spectrum, i can see some smaller newcomers up-and-coming making huge gains for their stock price. i just don't expect that kind of gain for these mature giant technology companies. the best gains are in the smaller technology companies, not the big guys. what do you say to that? >> i say there is a place in their portfolio for some of the up and comers, absolutely, but let's not forget it was a year or two ago when people said there is no way apple can double, it's impossible for microsoft to double, to quadruple and it has, so these big tech companies can still continue to grow. at they are growing their ecosystems and everything they need to do to extend across the planet and that's why i think their stock prices still have a good ways to go higher. stuart: we have been listening to you for seven
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years now and you have got it right and helped me make some money. i hope you are right again, shah gilani. you we'll be back soon to answer for what you said today. alright. here we go. hears the bell ringing on this morning. off we go. the dow industrials opening lower to the tune of about 100 points , but i still see plenty of green on that list on the dow 30, in fact the majority of the dow jones is in the green as we start trading picked dow jones down 70 points. s&p 500 opening slightly higher. nasdaq composite opening slightly lower, not much change s&p nasdaq. let's check big tech, just open for business and all except for microsoft are on the upside. i went to show you a big loser, spotify come in the music streaming company, good earnings report but they are
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getting hit to the tune of 8.5%. was the problem? susan: they are forecasting a bigger operating loss than wall street anticipated. spot if continues to spend big on exclusive content like joe rogan, harry and meghan are expensive as you know, still they had to jump in premium subscribers, by 20% entities are the type of subscribers that pay you, which he was so spotify says rising khomeini case is also part of the problem as well because different parts have impacted their overall user growth. stuart: harry and meghan are on spotify? susan: yes, for a lot of money like close to a hundred million dollars so expensive. stuart: remind me not to tune in. let's look at boeing, six consecutive quarterly loss it just reported. they say the rest of 2021 could be what they call an inflection point tanks to more people getting vaccinated. the stock is down 1.5% or
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facebook report "after the bell". there is speculation and i have seen it that they hold bitcoin. are we now treating facebook as a bitcoin play? susan: let's not get ahead of ourselves because it wouldn't be a surprise as you know they have digital currency project dm and also remember they had libra previously beforehand that they expect to launch later this year so i don't think it's a bit-- big surprise if they have bitcoin. in terms of earnings i think facebook will see a big recovery like google and advertising spend, a boost of numbers this morning suggesting facebook will be by at least 12% in daily active users pick facebook biggest media giant on the planet with almost 2 billion with a b daily users on each of these properties and i think it will be interesting to see the e-commerce portion how it's working and don't forget oculus and vr might be a wild card as.
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stuart: after google's digital advertising huge win i can expect the same thing from facebook. we well see. apple report "after the bell" today-- just open $134 a share. what are we looking for tonight, susan, i found sales? susan: iphone sales in particular after that monstrous record-breaking holiday time. forecasting a 5g iphone sale jump i a third to start off, that's pretty strong and also resurgence in. >> and ipad sales in the remote work and schooling era with it's the second largest after the iphone. this is also the quarter were apple details the capital returns like buyback and dividends which you know has been spurring the stock to these record levels. stuart: i just want to know what senator warren thinks about google's 50 million-dollar buyback and what apple might do and what
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facebook might do. susan: who else has this type of money when you have $200 billion in cash like apple and even facebook the smallest as 50 billion so give it back to shareholders if you can boost the stock price. stuart: but the left believes it's their money, it's society's money, should not go to shareholders and should be spread around to the community which it did not earn it, but that's another story. don't get me started, susan. susan: i won't. stuart: interest, the ideas aboard company shares taking a big hit, they say growth is slowing because the virus is nearing the end. stock price down 13% lower. how about yelm brand the parent company of fast food chain taco bell, kfc pizza hut and others, blowout earnings with people still drowning their pandemic sorrows and comfort food, i guess with the stock of a fraction. then the starbucks.
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they look to the future to raise their outlook, sounds good, but the stock is down 3%. what is the problem? susan: international, china is the second-largest market where they build one restaurant every 15 hours so it's a bit of a drag with weak demand overseas in the chain actually said u.s. sales have recovered, but still, i mean, you want people in the doors and they have it exactly seen that but the transition to mobile i think it's interesting and probably a catalyst for the future. we just had google hit a record high after that blowout earnings reports that we know google best performer so far this year and that's because they underperformed it last year because they didn't have the 30 or 50% gain because of the overhang of antitrust so it's a bit of a catch up for google and their shares. stuart: i just checked their value and google is now valued at $1.61 trillion, still about 600 billion
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behind apple. susan: and microsoft the second-largest as you know. stuart: that is true, but is not quite worth $2 trillion. had they done better yesterday they could be a 2 trillion-dollar company and now they are not. susan: it was a huge quarter, it's just wall street expectations. you buy on the rumor-- they knew it would be a huge quarter. stuart: okay. we are going to get into that again. i'm going to show our viewers the big winners for the dow jones 30, 30 stocks in the biggest winner is chevron. we will check out energy prices at a later. s&p 500 winners, capital one at the top, 4% gain with energy companies in there as well. monastic winners, google is up there. huge gain for a company of that size up 4%. data google this morning.
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next case, joe rogan has a lot of attention for saying this on his podcast. listen. >> but, if you are like 21 years old and you say to me should i get vaccinated i would say no. stuart: that's a hot topic of debate and we have the story for you. then there is this, no shot no job, that's why some companies are saying to workers before they come back to the office. is that legal? ♪♪ ♪♪
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stuart: blue skies right there. then we have spotify joe
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rogan as we have been telling you, he's making waves with his comments about the vaccine. take me through the whole story, please, susan. susan: he is saying a young healthy person really doesn't need a vaccine. >> people say do you think it's safe to get vaccinated and i say yeah for the most part it's a safe, i do. i do, but if you are like 21 years old and you say to me should i get vaccinated, i would say no. are you a healthy person? like look, don't do anything stupid but take care of yourself. there are a lot of jobs that tell you you need to have this. susan: he specifies 100 million-dollar man joe rogan drying criticism with his comments and something he is-- some say he spreading a dangerous message to a wide audience as he bought-- podcast tube billions of listeners. spotify reportedly reviewed this episode before it aired and let it on because you
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heard he was really not anti- vaccine for everyone. he just aside for young healthy individuals. spotify in the past has removed other shows and personalities on anti- vaccine grounds but not in this case a rogan is not shy when it comes to controversy. like the elon musk episode you see there but he's also said that masks are for weaker people and i won't use the exact words and he has maybe-- he's just a guy's guy; right? stuart: yeah, he's speaking freely we and the stock is taking a hit, not necessarily because of joe rogan. susan, want to bring in gregg jarrett. it's a broad general legal question. as rogan was hinting, can an employer force an employee to get the shot before they are allowed back in the office? >> the answer is yes because remember in terms of private
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employees, they are at will so the employer can mandate it. there's no legal reason why an employer cannot tell an employee, all employees you have to get vaccinated. there are conditions first of all that it has to be available to the workers, increasingly vaccines are and second of all if a particular worker has a health or medical issue that is unique to them that prevents them from taking the vaccine the employer must accommodate that. finally, an employer must recognize and accommodate a religious objection, but the burden of proof is on the employee to demonstrate that. if you are a federal employee, there's a bit of a wrinkle. there is a federal law that seems to say that you can't force federal employees to take a vaccine approved under emergency use authorization, which is the case with covid
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vaccines. why? because the standards are less than full licensee by the fda, but in a health emergency such as this, there's a pretty good argument that feds could do it also. stuart: that's a vaccination in workplace. let's talk politics in the workplace. in october, last year coinbase bandit talking politics at work. another company base camp software maker is doing the same thing. greg, it sounds to me like they are killing free speech, but to me they are doing this because they are worried about their own employees who may be talking politics on their internal networks and someone gets canceled. its defense is the way i see it. how about you? >> i agree one 100%. most of these cases are employers who are restricting political speech on internal chat rooms and communications of other employees and the
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employer has every right to do that. again, you are an at will employee in a private company and so the employer has wide latitude and discretion to say you cannot do this because it's a distraction in the workplace especially in this divisive hyperbolic environment that we are currently going through. federal employees actually have a broader free-speech right, but it's outside the workplace. also, by the way, it depends on where you live. for example, i'm currently in south carolina and here is actually a crime for a private employer to discriminate against an employee, to punish an employee based on their free speech outside the workplace, so it depends on where you were, where you live and who your employer is. stuart: it certainly does.
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gregg jarrett, we appreciate it. see you again soon. you check those markets, please. we are down 100, for the dow jones, down 23 for the nasdaq and s&p eking out a five-point game. which are the biggest drags on the dow jones? microsoft, boeing, three dow jones stocks all sharply lower. taken together they shave 185 points at the dow jones, so without those three stocks the dow jones would be up. they're down low is down 100 20 points as we speak democrats data just is calling out his own party. he says woke this, i guess the new generation is a problem that his party is too scared to speak about. we will talk about that. flight bookings are up, triple digits from last year, looks like people are ready to break free from the
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pandemic of the lockdowns. we will show you what it looks like. are we back to normal at chicago's o'hare? we will take you there. ♪♪ ♪♪ 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 ;) i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students.
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stuart: you are looking at the beach in fort myers, florida. a few miles north of downtown naples. all right. airline bookings, what a gain , up 111% in march of this year compared november of last year. so five months and up 111%. what does that look like on the ground? grady's at o'hare airport in chicago. are we back to normal because it look like that? >> well, it's certainly busier i don't know if we could call it normal as everyone here is still wearing masks. not normal for boeing as they
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release their earnings for the first quarter this morning and reported a loss of more than a billion dollars in the first three months of the year, but the ceo did indicate some good news as well saying this year will be a key inflection point as vaccine distribution is accelerated. commercial plane deliveries are up on the quarter, 77 commercial debts delivered at airlines and they are looking to grow their routes as people get more comfortable taking to the skies again. you mentioned those bookings, way up from when the vaccine was not widely available and now and it is up 111%. one thing that's interesting is european travel might be something to look forward to in the not-too-distant's future. eu indicated they may let vaccinated americans in and hear some top destinations to look for if you are planning a big trip this summer, denmark, poland, portugal, netherlands and france is where people are searching on the travel sites.
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searches for europe are up 47% after the news from the eu came out. stuart: not quite back to normal, but may be getting there. thank you. here we go. we are going to talk dogecoin. it's on the screen, elon musk is behind the surge in dogecoin. have to turn to susan for the news. susan: you called and anticipated that elon musk would say-- make some reference to dogecoin and crypto during his saturday night live appearance and he's calling himself the dogecoin father ahead of may 8, which is his debut on s&l so already rallying dogecoin prices . the price of dogecoin surged and soared 20% in the past 24 hours. 32 cents or so for dogecoin and it's not just elon musk, you also have mark cuban the owner of the dallas mavericks who was on lng generous
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saying dogecoin is better than a lottery ticket and they have had 6000 transactions off dogecoin, so you can see there's more adoption with companies willing to accept it and more use of it and that's key for crypto currency as you have seen with bitcoin and out dogecoin no longer a joke. stuart: okay, but am i right in saying that you can print and make as many dogecoin as people want, so if you want to billion new dogecoin tomorrow morning you can do that. susan: you can do that. bitcoin's limit at 21 million bitcoin, that's a finite number but dogecoin you can mine as many as you want which some says makes it less mainstream and less centralized. people by crypto currency because they don't want to be tied to a government or any individual or policy or cartel and that's what makes dogecoin-- some say, not saying i say it, but some say it makes it more attractive.
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stuart: okay. i hear you. susan: not me. [laughter] stuart: glad to hear it, still ahead today liz peek, bob doll, bob doll and kevin falconer. tonight you will hear president biden call for immigration reform, but what about the flood of illegal immigrants. that is the crisis. i guarantee he will not mention it. ♪♪ ♪♪ . . (vo) ideas exist inside you, electrify you.
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♪. stuart: good morning, everyone. it is 10:00 eastern. let's get straight to your money, bearing in mind that the s&p 500 is an all time high earlier this morning. i think it is there now, 4196, awfully close to 4200. new high for the s&p. the treasury yield on the 10-year that is, we're up to 1.62%. that is a little bit of a negative for the big tech stocks this morning but not that much. up at 1.62. apple and facebook, they report after the bell later on this afternoon. apple is up a fraction.
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facebook, very strong gain. this is before they release their earnings and they're up 2.25%. 310 on facebook. and now this. in his first 100 days president biden weighed in to just about every issue, covid, vaccines, masks, the economy, infrastructure, pipeline, climate, you name it he is into it but walked away from the crisis he helped create. that is the border. tonight we are told he will call for comprehensive immigration reform. that is about settling illegals already here. it does not cover the flood of new illegal migration that is causing absolute chaos. the president wants nothing to do with this, nor does his vice president. put in charge of the border two months ago kamala harris is in full retreat. she has not been to the border. she may go to guatemala in june and give them some money, that
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is it. it is really a conspiracy of silence of the president's handlers keep him away from border questions, the vice president laughs too frequently, all so compliant media can be guaranteed to play ball. kids in cages? that gives way to complicit silence. they don't care. the children have served a purpose as political pawns. we shouldn't be surprised at this. during the campaign the democrats encouraged illegal migration. they opened the door deliberately, prying to influence the hispanic vote, certainly encouraging the open borders base. they created this crisis but where is the accountability? is this administration is responsible, it is this administration which is responsible for the human trafficking of the cartels. have they no feeling for the kids dumped in the desert? all we get is the the insulting suggestion that trump is to plame. that is a disgrace.
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tonight you will hear a lot about the president's great plans, not much if anything about the border crisis. that is the inconvenient truth of this new administration. second hour of "varney & company" about to begin. ♪. stuart: liz peek joins me now. liz, do you think we'll hear anything at all about the border crisis tonight? >> no, stuart. i think you got that one right. look, this is the absolute mother of unforced errors. joe biden created this problem through his infantile need to rescind every donald trump policy including ones that were working to staunch the flow of illegals coming to the southern border. he created this problem. everyone knows it. even liberal outposts like "the washington post" said so. where are we, stuart?
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this is damaging politically to the biden administration. his polls show his lowest approval ratings are definitely things to do with immigration and the border. kamala harris as you point out completely abdicated, xi checked out. i have a piece coming out soon saying this could torch her presidential ambitions. she has shown herself to be not serious person. this will hurt her. politically, what do we have? we have elections coming up in 2022, including by the way an election in arizona for a senator. mark kelly will have to defend his seat. this is a big topic as you can imagine in arizona. i think the gop absolutely has the advantage here. this could be very, very costly for the biden administration and again, totally unforced. but the real tragedy for our country is, i think it undermines 100% the opportunity to do anything sensible about immigration reform. every time we have this kind of problem at the border americans
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get angry and they are completely closed off to providing a path to citizenship for the people here illegally, even dreamer policies unfortunately lose out. so this is a bad thing. biden really, really goofed. stuart: now, the president said, president biden said look we have to bring everybody together. we have to get unity. tonight he will speak to the congress. now you're laughing. i take it you don't believe that president biden has delivered on that promise of unity. spell it out, why not? >> well, let's -- first of all he encouraged racial hostilities by talking about our country being systematically racist. he is absolutely putting forward a war on the wealthy. we have class warfare, kind of run amok with biden's and we'll hear about that by the way a lot tonight, i'm schur why it is that the wealthy should pay
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their fair share almost everyone would say the wealthy are paying their fair share today. we'll have a war on wealth because his need or desire to hike the capital gains tax, beyond anything that makes economic sense. when he took office on his very first day, i think he issued 17 executive orders that overturned trump policies not just on the border but everything. how does that relate to try to bring the country together and 74 million americans who voted for president trump. i don't think biden has done a thing to bring the country together. in fact i think he worsened the divides he has enormously. stuart: always good to see you, liz peek. delivering a punchy message vigorously. love it. liz peek, come to see us again real soon, please. as you know by now president biden will propose another trillion dollar spending plan. it is the family plan coming out
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tonight. bob doll is with us. all right, 1.8 trillion-dollar package on top of 2.3 trillion for infrastructure, what was it, 1.9 trillion for covid, where are these spending plans will derail the market, if ever? or is the market willing to go along with all this money spending? >> stuart, the markets loving it at the moment. what it says, that gives us more economic growth which means more earnings, which up stock prices. the problem at some point is you have to got to pay for all this and/or it will mach the economy too strong that we'll have inflation come back. we'll see wage rate inflation as the unemployment rate moves down. that will begin to create problems for interest rates continuing to move higher, pressure on p-e ratios for stocks but the at moment the market is rejoicing at the great earnings. stuart: okay, tell me about big tech because there is such an
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important part of the market these days and they are reporting this week. do they maintain their position as the ultimate stocks, the greatest companies in the world, did they stay in that position as we go through the rest of the year? >> i think they're among the greatest companies in the world, yes, but that doesn't mean they will be the greatest stocks in the world. they have been phenomenal over the last several years as you well know and now their evacuations suggest things need to be nearly perfect for those stocks to continue to lead the way. i would have some of them in my portfolio but i know too many people who have that and not much else. it has to be a broader base of companies in this environment, stuart. stuart: oh, dear. you're looking at, talking to somebody who has put a lot of his eggs in that big tech basket and you're saying -- >> you have done very well congratulations, take a bow, maybe take a little chip off the table and diversify out more.
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stuart: i knew it. >> -- economy, this puts a lid on the valuation levels for those very high p-e stocks. stuart: maybe i sell a little bit of microsoft but i will not get into bitcoin. i will leave it at that bob doll, thanks for joining us. thank you so much. >> thank you. stuart: there is a big mover on the market this morning and i don't know why it is moving up so much. shopify is up 10% but susan knows. wait. susan: wait a minute, how much of your microsoft will you unload? stuart: i was not promising. i will think about it. i don't want to pay the capital gains tax. i just don't want to pay it. susan: it is better than 50% which might happen in the future under biden if he gets his way. tell us when you're ready to sell your microsoft. huge number for earnings.
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largest e-commerce player after amazon. they more than doubled their sales. that was a pretty tough compare to last year when covid shut down bricks and mortars, retailers rushing online using shopify. i think this magnifies the number, makes them even bigger. why you're looking at 10% jumps. this is very busy day for earnings. largest credit card company boosted by online shopping surge. amd, chipmaker, eating intel's lunch. they're firing on all cylinders. despite the global chip shortage. they're selling more chips for pcs. whereas intel had delays in pickup of their chips. stuart: susan, a few minutes ago you gave us the story on elon musk and doge. susan: yeah. stuart: give us the story of tesla and bitcoin. what are we talking about here? susan: more than a billion dollars in profit just from holding and buying bitcoin. yeah, they bought 1 1/2 billion
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dollars worth of bitcoin. we talked about that. they reported in their filing this morning that that stash, bitcoin holding is now worth 2 1/2 billion dollars. that is even accounting for the 10% that they sold which they made $100 million off of that they revealed this weekend of their earnings. that is a billion dollar paper profit that means tesla made more money from holding bitcoin than actually selling their cars. tesla is leading the trend in bitcoin. they said they would accept bitcoin as payment for teslas. not converting the bitcoin to cash. they will sit on it. musk himself revealing he personally holds bitcoin this week. remember the back and forth with portnoy on twitter. portnoy accusing the musk of pump and dump bitcoin. musk said he was not personally selling. tesla did to prove a point. if you agree, stu, if musk holds bitcoin he definitely holds some dogecoin. we don't know how much.
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stuart: i don't have any idea. i think he is playing the market like a fiddle. susan: doing very well. stuart: such is life. he is doing very well. president biden might be addressing top issues tonight but was quick to cut off reporter questions yesterday. watch this. >> will you make it faster to, for them to get the vaccines, the vaccines we will get soon? india. they're iserring. >> look, i'm sorry, this is last question i will take. i'm really, i'm in trouble. stuart: we got more of that where it came from. he doesn't want to get himself into trouble. fascinating. another tech firm banning politics, political talk at work. if you don't like it, you can leave. we will get into that one. first my next guest just got back from the border and calls biden's policies chaotic. congressman carlos gimenez is
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may be a big loss for the dow. three dow stocks account for a big amount of that loss. s&p 500 on track by the way for a record high close. netflix is launching a new feature. it calls play something. they will automatically play a movie or tv show based on your interests. not much change in the stock. still above $500 a share. the department of homeland security launching operation sentinel. it will target criminal
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organizations, smuggling migrants. casey stegall at the border of texas, at the town of laredo. how will this thing work, casey? reporter: stuart, sounds mighty complicated in fact, we should point out there are more than 23,000 unaccompanied minors, 23,000 children in u.s. custody. when you compare to that number a month ago it, was really 17,000, when you really crunch the data provided by hhs. the feds say they are taking what is called a multiprong approach addressing this issue which includes that new program called operation sentinel. it's a joint partnership between dhs, hhs, cpb, fbi, i.c.e. and the u.s. state department. the mission? to identify and target the gangs, smugglers and human traffickers. those behind these criminal organizations, then slap them
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with sanctions and seek out full prosecutions with hopes that will take the incentive away for attempting to smuggle drugs and people on to american soil. >> it will include every authority in our arsenal, including revocation of travel documents, suspension and department of trade entities, freezing of banking and other financial assets. reporter: law enforcement has the work cut out for them as the smugglers adapt, grow their organizations. each wristband you see in the picture represents a different cartel. the migrants wear these, so along the way they essentially know who belongs to who based on the ban's color. it is a very, very lucrative business. officials say, stuart, as we've been telling you, one all about the numbers and not at all about the clients or the well being of the migrants they're carrying.
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back to you. stuart: well-said, casey, thanks for joining us, appreciate it. i want to bring in florida congressman carlos gimenez. you've been to the border twice. i know you're going again soon but the media does not give us a true picture of the border. they don't even go there to report. you say it is chaotic down there. what do you mean by that? paint the picture for us? >> it means there are far more greater number of migrants across the border than can be handled by customs and border protection so it becomes chaotic. they have thousands and thousands of unaccompanied children that are put in customs and border protection, you know, agencies and their facilities they have to lie on the floor. they have got little pads they sleep on. they have aluminum blankets. they're all huddled together. no social distancing, et cetera. you know, a breeding ground for
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covid-19 so it is really chaotic and all caused by biden administration policies. stuart: were you allowed to ask the border patrol people what conditions were like? were they allowed to give you a real clear picture of what it is like? whether they allowed to speak freely to you? >> yeah they were. actually, we saw them. we went to the customs border protection agency facilities, we saw these conditions that these migrants were in. we also know what the new policies are, why the biden administration policies actually creates this influx of unaccompanied children. if you are under 18 years old, and you're above seven, then you need to come unaccompanied because if you are above seven and you come with a family member, then you're being sent back to mexico for processing. if a family unit has children under seven, their process here in the united states. so people make that decision. if they get to the border. my kids are older than seven,
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therefore they will cross unaccompanied, we'll stay back on this side. we'll try to make it our own way. by the way, the cartels are making hundreds of millions of dollars in profits. some people estimate as much as a billion dollars a month in profits, four to $6,000 per person to come across. all depends on nationality. stuart: we've got a rip-roaring economy and we've got some workers who are being paid a lot of money to stay home. in that situation, you could make the case that we need this migrant labor. what do you say to that? >> i was thinking about that the other day. i'm having businesses tell me that they can't find workers because they're actually making more money sitting at home collecting unemployment benefits. so this you know, i understand the need for the unemployment benefits while covid-19 was raging but you know, we're on the down slide of this pandemic.
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we've done a great job putting out the vaccine. president trump, "operation warp speed" producing the vaccine and then the, the logistical issues of how to get this vaccine out to the american people, i think that is one of the things that the biden administration, about the only thing the biden administration kept from the trump administration. it's a good thing. it is working very well. we're having a difficult time finding workers to work in a number of industries. so a lot of these unemployment benefits need to stop. we need to wean ourselves off to get our workers back to work again which is what we need to do to get our economy working again. stuart: republican carlos gimenez thank you, sir. >> thank you. stuart: ashley webster with breaking good news for bars and restaurants in new york city. give me the good news on the bars, ashley? ashley: good morning and finally you can saddle up to the bar again in new york city,
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beginning next monday, may 3rd. also the midnight curfew on outdoor dining areas will be lifted on may the 17th. outdoors areas beginning may the 31st. curfew for catered events will also be lifted as long as the attendees can prove vaccination or a negative covid test that will begin on may 17th. catered events at residences can begin again next monday. all of this is very good news. the governor saying, this progress will continue if everyone continues to get vaccinated he says. that is the weapon that will help us win the war but finally for new york city, some very, very good news. stuart: very welcome news indeed. ashley, thanks very much. >> very. stuart: now this. is this the man, show you the man, is this the man you want teaching students about fake news? roll tape. >> was that your laptop?
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>> for real, i don't know i really don't know what the answer is. >> you don't know, yes or no if the lap was yours? >> i have no idea. >> could have been yours? >> certainly. there could be a laptop out there. stuart: a university inviting hunter biden as a guest speaker to talk about fake news. we've got the story, we'll it to you shortly. plus the generational divide on the left. old line james carville says new generation wokeness is the real problem. deroy murdock sounds off on that in just a moment. ♪
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♪. stuart: check those markets. telling you this now, s&p 500 is on track for a new all-time record high close. there you have it. 4193 right now. the dow though, on the downside because largely because of these go stocks, microsoft and boeing. both dow stocks, both way down. taken together, they shave 103 points off of the dow.
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okay. james carville says democrats have a wokeness problem. i'm going to quote directly. here we go. wokeness is a problem and everyone knows it. it is hard to talk to anybody today and i talk to lots of people in the democratic party who doesn't say this. but they don't want to say it out loud. hmmm. deroy murdock is back with us this morning. deroy, i think this a generational problem. old line carville, versus the new younger generation of woke folks. i don't know who is going to win but looks to me like the woke folks are winning at the moment. >> stuart, you're right. they sure look like they're on the march, if you will, the new long march, quote chairman mao tse-tung who seems to be spiritual leader for a lot of these people. it may be a generational problem as you say. carville is the almost right in the article in vox or interview he is quoted, what woke poem
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suffer from is a message problem emdemocrats refer to the latinoses as latinx, that is bad spanish. culturally offensive. note just a bad message but the substance is awful. one of the big slogans is defund the police. turns out that is not popular. american people don't want to defund the police. they warrant the police trained, punish the bad cops. they don't want to defund the police. 70% of blacks believe the police is doing a good job. we're told america is racist. it has been all along. they were not found in 1776, we were found in 1619. we're inches of away from slavery. white kids told you're a racist all of your fault. i don't think a lot of white parents will not like that very much. they will take it out on the democrats in 2022 if they keep
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up that sort of thing. stuart: that is a long way away. no telling what the results of that election next year are going to be. meanwhile the woke folks are making the running here. they're criticizing management from within. they're criticizing newsrooms from within. you've got to be woke or you're out. i don't see any diminution of the woke influence at this point. as of right now, do you? >> there should be more. i think we've not seen much of, ceos or news directors, editors of publications setting up, for example, in the "teen vogue situation where they were about to hire a new editor, they decided not to because she had twitter comments at age 17 when she was in fact a teenager. the newsroom freaked out. what they needed someone to do, we hired this woman. she will be terrific. she will work for us. we picked her. she apologized the for what she wrote. she asked forgiveness.
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she deleted. those who are welcome to stay here but those who are not are welcome to walk out the door. there has to be adult supervision in newsrooms, companies across the america and ceos, corporate chieftans who actually lead that way, rather than buckle under to this sort of ridiculous immature pressure will be rewarded. i would love to see the sort of thing. a lot put their tails between their legs and run but that is not why god created ceos. stuart: ridiculous, immature pressure. i like that expression. i will use it. i will sale it. deroy, thanks for joining us. now this, president biden cut off questions while addressing the media. come back again, ashley. take me through it. what happened? ashley: exactly what many people are asking on social media, after the president continued to take questions during a rare back and forth with reporters after speaking about new covid guidelines but then he said, you
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know what? i'm going to get in trouble and finish answering those questions. take a listen. reporter: do you have any preconditions before meeting with vladmir putin? >> i will discuss that all another day. reporter: what did you ask vice president hairs to do? reporter: with you i you make it faster for them to get the vaccines, vaccines we will get soon? india? they're suffering. what do you say to the folks in india. >> i'm sorry this, is last question i will take. i'm really, i'm in trouble. ashley: wasn't clear what biden meant exactly. let's face it, he is supposed to be the most powerful man on earth, which begs the question who is in charge and which timetable he is on? when you look back to the impromptu press conferences held by president trump. back then you were no doubt who was in charge, stu. stuart: answered any and all questions, anytime, anywhere. he got an answer right there?
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usually entertaining to boot. here is another one for you. hunter biden got a speaking gig at tulane university. what is he going to talk about? ashley: you are going to love this one, stu, a top pick many would say hunter biden could possibly post a phd in. fake news. the first son will join a class to talk about media polarization, fake news impact public policy making in washington, d.c. let's not forget claims of hunter biden's murky dealings in iranian and china backed up by emails on a laptop that he says he may, may or may not be his. remember this, listen. >> was that your laptop? >> for real, i don't know. >> you know -- >> i really don't know is what the answer is. >> you don't know, yes or nor if the laptop was yours? >> i have no idea. >> so could have been yours? >> certainly. there could be a laptop out there that was stolen from me. it could be i was hacked. it could be, that it was russian
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intelligence. it could be that it was stolen from me. ashley: [laughter]. he will be giving a class how to answer those questions apparently. a federal investigation into hunter biden's business dealings we should note is on going. yeah, in other words plenty of material for students at tulane to discuss. stu? stuart: we got the story. ashley, thank you very much indeed. popular podcaster joe rogan, back to this story because what he said has ignited a firestorm. watch this again, please. >> but if you're like 21 years old and you say to me, should i get vaccinated. i go no? are you healthy? are you a healthy person? look don't do anything stupid but you should take care of yourself. stuart: that is not all. we've got the full clip for you which we will play and you will hear. looking to get away. rental car rates exploding. i'm talking as much as $1,000 a
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day. we have a report from one of the cities seeing that kind of surge, miami. coming up for you after this. [announcer] durán catches leonard with a big left. ♪♪ 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. what matters is you're down. and there's nothing down there with you
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♪. ♪ "hit the road jack" ♪ stuart: hit the road, jack, i would like to hit the road to honolulu which you're looking at there. 4:41 a.m. the sun will rise shortly, and it will be beautiful. let me tell you what is not so great about hawaii. a shortage of rental cars. prices are skyrocketing. up to $1000 a day in some places like hawaii. rental cars are so expensive,
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tourists are using u-haul trucks instead. they're much cheaper. phil keating who is in miami. he will tell us about the rental car market right there. what does it look like, phil? reporter: it is busy. you can see all the people behind me at various rental car company counters picking up their vehicles. one of our correspondents out of l.a., my colleague jeff paul, was in denver recently covering that horrible king super's mass shooting. six days he was there, his bill was 3 and $3500. the rental car shortage started last march, last year, when the pandemic hit. people started staying home. the big economic shutdown happened. people stopped traveling. but as you can see, people are traveling again. but in the time over the summer, the rental car agencies sold off hundreds of thousands of their four wheel inventory but, supply is back up. people are traveling again.
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cabin fever hit. also people are getting vaccinated. that has been a far higher demand for rental cars with a much smaller supply. empty rental car lots, hour long lines to get your reserved car, extremely high prices. look at recent florida prices to rent a car. west palm beach, 399 bucks a day. in fort lauderdale, 350 bucks a day. here in miami, $350 a day. that is just from last weekend. florida is one of the worst states for this. if you fly to these cities over the past weekend, zero rental cars available. daytona beach, jacksonville, key west, panama city, punta gorda, sanford, sarasota, tallahassee, vero beach. travelers in hawaii, you mentioned have been getting ryder trucks, u-haul trucks to drive and for the vacations because they could not get a rental car. industry experts say expect it
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to get worse before it gets better. >> right. we think this problem will be with us for a while. at least through the summer. we are finding that, these demand is spiking up. car rental companies are not able to get vehicles fast enough. we think the problem will migrate to the northeast, the midwest and other areas of the country as the weather warms up. reporter: that is the ceo of autoslash.com. the top three tips are, make the rental reservation early, book the pay later rate, sign up for the free loyalty programs like hertz gold for example, so you skip the line, you land at the airport, walk through the terminal, you walk straight to your car, saving you time and hassle. compounding the issue, there remain a lot of americans that are willing to start traveling to visit family and friends but they still don't want to go to the airport. so they're actually taking up rental cars to make shorter vacation trips and drive the whole way.
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back to you. stuart: phil, i would take an uber instead but they can't find uber drivers to go back to work. that is another problem. phil keating, in middle of it. miami. reporter: i would pick you up. i would pick you up. stuart: thank you. i don't care what they say, keating, you're all right. we're back to you. that is a promise. get back to the marketing right now. uh-oh, here we go, we're talking gamestop again. what is with gamestop today, susan? susan: it is down today. we're down 5 1/2%. i think profit-taking since it run up so much because they announced finally they're raising money selling shares. something they may have, should have probably done at the end of january when the stock ran up to $500. they need the money to move online from bricks and mortars. there is a new reddit wall street bets favorite stock. it is not gamestop, microvision. a laser scanning technology company. look at the stock. it is up 20%. they announced completion of its
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long-range lidar development platform. lidar is important. laser scanner to map terrain for self-driving cars. that is important technology for the future. norwegian cruise lines announced return to cruising. uk itineraries start in september. western european including scandinavia, start in august. they're hoping for a july 4th restart here in the u.s. stuart: let's have a look at apple. susan: you can't take uber by the way on the ocean, stu. letting you know. stuart: i do know that, susan li. sarcasm is a low form of wit. you know that. let's talk apple. $134 per share right now. report after the bell. this afternoon. please don't give me analyst expectations. susan: i will tell about iphone 12 sales. maybe motivate to you buy one. it is kind of expensive for stu's budget. you never know. they're attractive phones. talking about iphone 12 sales
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continuing. the momentum carrying after that record breaking monster holiday quarter, right because they had $100 billion in sales. how many companies, i think, besides amazon and apple, no other company has reported $100 billion in sales in just three months. now the street is still forecasting that the 5g iphone sales will jump by a third to start this year. then you also have that combined resurgence of mac, ipad demand in the remote work and schooling area. apple music, apple tv plus, apple care, the second largest sales segment for iphone. capital returns like buybacks and dividends they have been handing over to shareholders five to eight years. that really helped boost the stock price. stuart: i'm astonished at those huge numbers of revenue in the different sectors. susan: yeah. stuart: 15 billion for music and apple tv. that is enormous. susan: incredible, right? the fact they made $100 billion in sales in three months.
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i think people forget that is just incredible. stuart: it is. it blows you away. susan: yes. stuart: all right, susan. next case, half a million people have left california just in the last two years. what would kevin faulconer to get them to stay if he were governor? he is running for that job. he is on the show shortly. long time texas rancher witt jones seeing the border crisis play out in his owning backyard. he says smugglers are damaging his property big time. he is next. ♪. nicorette knows, quitting smoking is freaking hard. you get advice like: just stop. get a hobby. you should meditate. eat crunchy foods.
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and offers high-quality municipal bonds 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. 1-800-217-3217. that's 1-800-217-3217 stuart: the dow has come back a little bit in the last few minutes. we were down 170. now we're down 110. the s&p still on track for a record close. let's get to the border crisis, crisis it is. texas rancher witt jones says things are worse than ever at the border. the smugglers are damaging his property. he joins me right now. witt, describe for our viewers exactly what you are seeing
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happening on your property? >> when he, good morning, mr. varney. how are you. yeah, the damages continues to pile up and expenses pile up with it. it's becoming very time-consuming, frustrating and expensive. we, you know, beyond expenses it is just the time it ends up taking out of our ability to, to you know, to operate and to manage our operation. stuart: do you ever confront the mic grants? do they ever come to your door to ask for water and help? >> sure, we see them regularly. it is, you know, not, noted at all we come across them, they come to the house. typically you will see them more, you know, while you're out doing work on the property, or ranches, taking care of things.
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many times we have rescued many people that are in dire straits that are out here. it's, it is a constant common them we've been dealing with a long time. now more than ever, it has become different. it is not the same environment that has normally existed. stuart: when, during the trump administration environmentalists went to court to stop building the wall. well now it is the biden administration. what are the environmentalists saying about the damage to the environment because, on your property? because i understand you're part of the wildlife association, you've got a problem with this? >> yes. so i, look, i respect that argument in many ways. the border with mexico and the united states is some of the most beautiful country this nation has to offer.
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the stretch from brownsville to el paso is gorgeous and has some of the most wonderful wildlife that exists on the planet and so i certainly respect the environmental factor that exist there and the effects that it plays out on wildlife in general but at the same time -- stuart: they're not doing anything about it, the greenies are not doing anything about it at all, are they? >> at the same time the immigration issue is causing damage to the wildlife as well. and so you know, i'm not a necessarily a fan of the wall but it certainly something that helps. it works. my position it that it works. he don't like it by any means but, the issues we're having in other places with the flow of traffic, something needs to be
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done in order to slow it down and the wall did make progress in that, in that. and that is evident just from living down here -- stuart: i'm out of time, i'm very sorry, i'm out of time, whit. we appreciate you coming on the show. we sympathize with your position, because you're not in an easy position right there. whit jones, thank you for being here. >> yes, sir, mr. varney, have a good day. stuart: i love that. i love that gentlemanly approach, yes, sir, mr. varney, have a nice day. i like that. on the show today, kevin faulconer, chris riggs, both coming up on the next hour of "varney" el we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute
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>> it is anti-family plan. it will be a good punch, something that favors be urban, the rich, it is disgusting. >> as an investor use the time for your portfolio because the trend is up. >> interest rates move up, this puts a lid on the valuation levels for the stocks. >> the pullback in big tech was
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not there interest rates rising, that was a false narrative. all the big tex we talk about have every number, every metric and hitting it out of the park. ♪♪ will: a little frenetic, that music, for me at least. 11:0 one eastern time but that is the time, wednesday april 20 eighth. here we go. check the markets, dow is down 100, nasdaq is down just 8. a mixed picture, no really clear trend thus far. apple and facebook, we are showing you them because they report after the bell this afternoon. apple is down a fraction going nowhere at the moment, facebook powering ahead up one.one%, major gain for facebook in advance of earnings. now this.
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don't talk politics at work. how do you feel about that? sounds like another restriction of 3 >> in some ways it is but take a closer look. no politics at work may be a defense against the woke generation, defense against the cancel culture. a software company has banned political discussion on its internal networks. social networks fine. internal networks politics. base camp says politics at work is a major distraction and leaves the dialogue, quote, towards dark places. sounds to me like they are trying to keep their woke employees in check. several corporations faced a revolt from their own employees who push their own view on race, gender, social justice and an executive fails to so the line they can be canceled,
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forced out, happens at the new york times. no politics will was met with outrage. accused of being unconcerned about injustice. that is wrong. base camp is protecting its business from the cancel culture. why should they be held to ransom by employees driving a political ask. the ceo says we are just in the software business. it has come to this. limit political speech in the workplace to keep business free of the destructive politics of the woke crowd. what a shame it has come to this. the third hour of fortnoy is about to begin. ♪♪ will: chris bedford is senior editor at the federalist. i say base camp and coin base are trying to protect
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themselves playing defense. what say you? >> you are right on them playing defense but worried those companies that might be too late. base camp is one of these companies that is at the forefront of allowing woke surged to take over saying they were going to allow politics at work to foster the environment of these little control freaks, now they say there is no politics. these people don't believe they are just talking about politics like you and i do, local town elections, they think their cause is justice, their cause is morality, their new religion and they will battle through that thinking they are being oppressed and they are pretty vicious. they will try to cancel people and destroy people and once you let them into your company are in a bad spot so i applaud them and hope they succeed in this but it is a tough fight because they are already inside. will: we have a headline from the new york times, quote, there is a tension.
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publishers draw fire for signing trump officials. this is the woke crowd at work again, isn't it? they are saying you can't publish these books by trump officials because we don't like the trump officials so we are going to cancel them out. this is outrageous. >> they are different from the old liberals who thought politics or religion and all these things should be separated have their spheres, they want to control speech. they don't want to abolish police they want to be the police. they don't want to abolish speech, they want to control all speech. you've seen it at the new york times, at politico where ben schapiro guest hosted a newsletter and i wrote for simon & schuster, glenn beck has almost 30 books with them. donald trump has 5 or 6 books with simon & schuster that he has published back in the day they were willing to do this but if you let these people who want to silence speech control
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you as a book publisher you are in forward and in a lot of trouble and i wonder how much longer these political books will be published at all when publishers decide maybe it is not worth the hassle. >> i will conclude again. it has come to this. thanks for joining us. back to the markets, still down 100 for the dow, the nasdaq is heading towards a new record high. let's bring a program for the super bowl, going to make some money. michael lee is the super bowl. what do you think of this $6 trillion worth of spending the administration lined up. $2.3 trillion infrastructure, one.8 family plan, do you think that will throw cold water over your bullish market position?
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>> most of that stuff is dead on arrival. i don't see much of that going anywhere. maybe they will squeeze tax increases, small ones through budget reconciliation but much of the stuff is insane liberal nonsense. that is not going anywhere. will: hold on a second, sorry to interrupt you. you are in full flight and hard to get a word in edgewise but you just said, all the spending is going to happen, that is a major league statement. are you sure of that. >> yes. it is just too radical. there is a theory in washington dc you always ask for more and settle somewhere back in the middle, that is the wrong way to do it. you come out and say what you want and settle around the edges so people know where you are and the idea we want to
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raise capital gains in line with your income tax bracket near 40% and settle in the 20s that is stupid. come out and say we want there to be minimum capital gains tax of 25%. people can get their heads around that and joe manchin and christensen are playing the foil rolled on mccain did with obama where john mccain's soul vote stop the repeal of obamacare when there were 45 republican senators behind him. those two senators are sticking out board. the own party of corporate america went behind the democrats in this final election doing everything they can to silence and marginalize republican congressmen and republican voters. i don't think corporate america will be on board with this and if they are not am bored with it democrat paymasters are corporate america. will: you are a super bowl, the
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market is going straight up so therefore should we buy any dips in the big-name companies like microsoft? >> this is a great opportunity to get involved with microsoft. the cloud is not going anywhere. it will only be a larger portion of how corporations and people run their computing as they move the cloud, the sense that microsoft made with the reserve product is nothing short of remarkable, it isn't slowing down anywhere. compounded at 10% in a 30 year period in history is what you need to realize is most of that returnees in short periods of time. you lost decades and have boom decades. in 13 years the s&p 500 didn't move, 1500 in 1999, did not get back there until almost the beginning of 2013 so we are in
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one of those boom periods. a lot of the return from future years is pulled forward with the money printing, it is important for people to invest in stocks. when i say things change they have a massive profit deceleration. the economy starts to slow. and only increase with the fed printing money. and they increased, and that the business cycle and get involved for multiple years and get defense if down the road, when you have bond or cash to the sideline. will: michael lee, super bowl and grave man. we like your style. staying on the markets, come on in and talk to me about one of the biggest names of all, google. >> they are buying back $50 in stock, a huge recovery in digital advertising, cloud was
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up 50%, youtube pulled in 30% more. they are leading the text charge. microsoft, best revenue jump in three years. the report card, cloud key growing 50%, microsoft and zoom competitor 145 million daily losers -- users. when stock is down with anticipation going into the earnings you buy on the rumor and sell on news and that is why it is down today and given how well google did with the ad spending recovery, wall street raised big numbers for facebook after the bell, looks like they are likely to crush forecasts when they announce and boeing, a much bigger loss because of the ongoing travel delays with the recovery continuing but it is an even around the world so growth doing really well, value like boeing in the opposite direction.
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will: one of these days i will find out if you have a beloved stock. you say microsoft is my beloved stock, not now but one day i will find out what your beloved stock is. i am going to tell you what we've got coming up. a state of emergency after border patrol started dropping migrant families often the middle of their town. that changed after foxbusiness reported the story. the mayor joins us later with an update. president biden wears a facemask outdoors to announce that we no longer need facemasks outdoors. doctor marty my carry is here to respond to that. breaking silence about conservatorship, britney spears will be in court next month. will a public be open or the hearing be open to the public? we've got the story for you. it is a good one too. ♪♪
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will: president biden will unveil details of his latest spending package. blake berman is here from the white house. how will the president sell this massive spending plan? >> the administration is pitching this as a, quote, generational investment. let me take through the top lines we will hear the president outline tonight. he will propose four years of extra education by having free preschool for 3 and 4-year-olds and community college later in life and the national paid
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leave program and help for child care. you see the cost for all of this. parents up to one.5 times the average income levels wouldn't have to pay more than 7% of what they make for child care costs. on the tax side the president will propose major changes for the wealthiest, raising the tax rate of 39% and raising capital gains rates for million-dollar income earners and notably missing it does not include a repeal of the 10,$000 salt or being able to write off state and local taxes, something democrats in high tax lou states were hoping the president would include. add it all up, the white house says this will be $1 trillion worth of investments and $800 billion in tax cuts for workers and families. stuart: you are killing us. >> part of the proposal.
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stuart: i am kind of joking. president biden gave some would call a bizarre response when asked how he wore a mask outside after the cdc said you don't have to do that. >> you chose to wear a mask. what message were you sending by wearing a mask outside? >> watching me take it off and not put it back on until i get inside. stuart: let's bring in doctor marty macarry, he was sending the confusing message was what do you say? >> if you look at the cdc guidance it was confusing in and of itself, people who are fully vaccinated, in a small outdoor gathering they can take off their masks, give me a break, tell me something we don't already know. the outdoors is safe and no one needs to wear a mask outdoors unless you are two unvaccinated people sitting shoulder to shoulder at a game or something we need better messaging and better messaging to give people
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a reward. stuart: i never heard a doctor say give me a break but you just said it. we don't have to wear a mask outdoors so why do they say we do? >> we don't talk politics in general, so frustrating. we have lost our bearings, completely distorted perception of risk. right now covid daily cases and new hospitalizations are below that of a mild flu season in the middle of that flu season. now this flu season was 6 years ago and we had 400,000 cases a day. that the case fatality rate is comparable to covid right now because it is in younger people. it is frustrating to see her distorted perception. stuart: joe rogan said in his podcast healthy young people don't need the covid vaccine. i will play this for our
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viewers. >> people say is it safe to get vaccinated? i think for the most part it is safe to get vaccinated. if you are 21 years old and say to me should i get vaccinated, no, are you healthy, a healthy person, there's a lot of jobs that say you need to have this. >> for a young healthy person your risk of death is negligible. it is infinitesimal. let people make their own individual choices and we do better with our vaccine rollout, public health officials would respect people who choose not to get the vaccine and stop shaming them. need to give people something to look forward to and stop shaming folks. half of folks who are unvaccinated are immune from natural immunity. let's recognize that, that is a reasonable reason not to get a
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vaccine. stuart: let's relax. thanks for joining us, appreciate that. back to the markets. some green for the s&p might be closing at a record high, red for the dow, red for the nasdaq, uber launching a new feature on the apps, allow customers to book covid 19 vaccine appointments and reserve rental cars, don't know about the price of the rental cars. uber $57 a share, streamers on your screen, youtube's revenue could soon rival a major streaming service. which company are we talking about? ashley: google's youtube could match netflix revenues by the end of this year. google parent outfit that says
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youtube brought in revenue of $6 billion just over advertising revenue, up to billion dollars from the ago and an impressive growth rate of 49%, nearly twice the growth rate of netflix. of that trajectory continues youtube will match the streamer by the end of this year. very impressive. stuart: i am not surprised, everything on youtube, i use it all the time. britney spears scheduled to appear in court next month, this is about her conservatorship, control of her money. what is the story? ashley: it is an ongoing story. the singer says she wants to address the court directly at the upcoming conservatorship hearing scheduled for june 2, '03, the battle over her
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$60 million estate going on for months after her attorney filed to officially remove her father jamie spears as conservator. you have seen it, i watched it, the documentary framing britney spears put a spotlight on this case leading to celebrities and fans creating the viral hashtag free britney so the saga goes on. stuart: thanks. a very large alligator shows up in the middle of soccer practice. we are going to tell you what happened next. that is one big gator. half 1 million people left california the last two years. kevin faulconer wants to be the next governor of the golden state. if elected how would he convince people to stay? he is on the show next? >> california here we come ♪♪ right back where we started
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from ♪♪ california ♪♪ ♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa
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usaa. what you're made of, we're made for. it's so busted, you can't use this part of the screen. definitely cracked every phone i've owned. (vo) you broke your phone. so verizon broke the rules. for the first time ever, new and current customers can trade in their old and damaged phones for up to $800 off our best 5g phones. my phone is old. very old. old, cracked, water damaged? doesn't matter. i'm ready for something new. now trade up to the 5g network you deserve with the 5g phone you want. because at verizon, the network is just the beginning. i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid.
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the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis and is not for treating symptos unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of te arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid.
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stuart: check the markets. a little green for the s&p but little red for the dow and the nasdaq, 20 points at this stage. let's get to the alligators story.
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and alligator chased a toronto soccer team in florida, chased him off the field. watch this. >> good to be inspired. stuart: good to be in florida. that is a good line. the team is practicing, the gator showed up, took some selfys with a guy in a golf cart helped lead the gator from the field but they did not see the gator before. playing in florida, you get gators in florida. speaking of o, in new york city. ashley: in the center half. the stadium will be on the city of new york's jamaica campus,
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queensboro fc, in soccer teams, hotbed for soccer. the corona part 2 way, and scheduled to be completed in time in the 2022 season. stuart: you are a fan of all kinds of sports, new place to watch live hockey matches. ashley: hbo max to a 7-year deal, the national hockey league and the media turner sports, warner ceo jason taylor said sports would not appear on hbo max this year.
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a little tennis and boxing, live sports is a key component in the content of any streaming service. hbo max jumping on board. stuart: what is this about boxing champ floyd mayweather coming back to the ring. he has an interesting opponent. ashley: he does. very colorful opponent. he will face youtube sensation turned boxer, logan paul will take place at the hard rock stadium in miami on june 6th. showtime pay-per-view event will generate a lot of money, don't know how much it will be but willing to millions and millions. the fight originally scheduled for february but was postponed. the announcement doesn't specify how many rounds they will fight or what size gloves they will use.
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more details on the rules will be released soon. the 44-year-old mayweather has a record 50, retired after defeating mma star, the always colorful conor mcgregor in 2017 in las vegas. there we go. i guarantee it will generate a lot of pay-per-view money. stuart: guaranteed, guaranteed. next one. half 1 million people packed up and moved out of california in the last two years. kevin, kevin faulconer is with us, running for governor. let's get straight at it, your honor, not sure the form of address. what is the first thing -- if you were elected governor of california what is the first thing you could do that you would do to keep people in the state? >> have a governor that does not take california jobs and
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companies for granted. you hit the nail on the head in terms of great companies leaving the state for other states, you name it, where they are headed because we had a governor and an administration in california that is indifferent. i learned a long time ago as mayor of san diego we are a competitive environment. i want to keep and retain great companies. i will do the same as governor with a policy of programs that will make california more affordable, stop the continued push for more taxes, more bureaucracy. we are absolutely looking at that. stuart: because of taxes. would you flat out cut taxes? >> we are going to and i will have more on that the next several weeks. we have to tansey your question directly. stuart: you are going to cut taxes was what else? specific things you would do, what else? >> one of the biggest things we
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are finding is the price of housing in california. we have to create incentives to build more housing. i did that as mayor of san diego. we have to do that in california. what is the answer to high housing costs? more supply and we have to have a governor who is going to make that happen? stuart: can you do that? the problem in california is the rules and regulations concerning allowing you to build a new one. governor just sliced through that? >> we are going to have to and i did that as mayor of san diego. we passed the plan called complete communities which lowered the bureaucracies so you could get permits in san diego. the biggest problem is time and bureaucracy. we put the incentives back in for folks providing homes, and all about the bureaucracy and
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making it easier to build the housing where we need it. a lot of major transportation corridor doors, cut the red tape and provide incentives, build more housing. stuart: california is a sanctuary state. would you end that? >> that is the wrong approach. we were not a sanctuary city. we have the right approach to balance the approach and california supports that. >> great news on the recall which qualified out here, very strong message, californians from all walks of life, democrats, independent, republican, are ready for a change at the top. the experience to roll up their sleeves get california back on track, reduce homelessness like we did in san diego who is
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going to stand up for public safety, not defund the police had to do things to make california competitive again. it starts at the top and that is what the recall election is all about in california. stuart: let me get this straight. this election will be held but when? >> our best guest if you look at the legislature, some discretion on this, held this fall likely november. stuart: november this year, likely, got it. kevin faulconer, thank you for joining us. good stuff. vice president harris met virtually with the president of guatemala this week and now he is speaking to fox. we will tell you what he is saying. show me boeing, $537 million quarterly loss. a 13 week loss of $500 million. air travel is ticking back up again. we have a summer travel forecast from o'hare airport in chicago.
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stuart: are you kidding me? i'm getting drunk on a plane. i guess that is appropriate. the airline industry is recovering from the pandemic hangover. let's go to grady trimble at o'hare airport. how are they preparing for the summer crowds which are coming? >> they are quiet here because the morning rush has died down but they are adding roots to popular summer destinations and buying planes once again. boeing reported they delivered
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63, 737 maxes in the first 3 months of the year which is a perfect claim for shortfall domestic flights. they see 2021 as a key inflection point with the vaccine being widely distributed, but ceo dave calhoun said he doesn't expect travel to return to pre-pandemic levels until 2023 or 2024. i have been talking to folks today who are eager to get back into the skies because so many have been vaccinated. >> i'm going to florida to escape chicago and my home confinement and my home office. since may 13th last year. >> reporter: why now? >> i'm vaccinated and my friends are vaccinated. >> reporter: european travel might make us like come back with the eu indicating it could
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open travel to americans who are vaccinated. if you're planning european trip this summer you might save a little bit of money, folks at the travel booking apps say the average ticket price for international travel this summer are around $775 which is down 9% compared to the summer of 2019. i can relate to that woman, she wants to escape chicago, beautiful yesterday and cold and gray today. stuart: i will buy you the ticket if that is what you want. we had big on recovery on this program. airlines not the only area of recovery, las vegas is on the mend too. is that accurate, ashley webster? ashley: the the las vegas, bouncing back to pre-pandemic levels the latest reports show
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big increases in airport passengers and tourism, casinos statewide took in $1 billion in winnings last month, first time that happened since february of last year before the pandemic hit and on top of that the las vegas convention and visitors authority reported 2.2 million visitors in march still down 40% from the same month two years ago, but no doubt numbers are rising especially with all state restrictions in nevada expected to be lifted by june 1st. stuart: that is the song as i recall. let me see the hotel stocks. we are showing you these because hotel rates are on the rise not affecting stocks at this moment but rates are going up. according to travel booking technology company cody the price of a hotel room is now 5%
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lower than a year ago. interesting. rates were 11% cheaper a couple weeks ago so the trend is up. border patrol agents, border patrol dumped migrants in gila bend, arizona, until a fox business report exposed the story. watch this. >> i have to thank fox for putting us in the spotlight and your viewers for all their prayers they gave to us that made a difference and literally less than 24 hours. stuart: you are welcome. the mayor of gila bend tells us what happened 6 -- since the fox report. he is next. ♪♪ you got the shadow ♪♪ you got the shadow ♪♪ you got the shadow
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>> vice president harris is issued more financially to guatemala.
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william, you just spoke directly to guatemala's president. what did he say to you. >> if you take aways. lack of healthcare, poor education driving people north, not violent as many asylum-seekers claim, and he wants the us help to false promises, victimize illegal immigrants. >> to declare the coyote a federal crime, so they serve severe sentences in the united states. >> the president admits sustained usaid has not reduced illegal immigration. change the millions are spent a local nonprofits to handle the programs. us ngos to not deliver.
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>> i need to focus on development. the largest number of people emigrating are concentrating. >> over $2.8 million and illegal immigration remains pretty much of an all-time high and apprehensions this year. reduce corruption, poverty and healthcare and infrastructure. as for unaccompanied children, he wants to streamline them in unification by opening up area the us embassy in guatemala city to reunite those, all asylum claims will be resolved there before migrants ever arrived in new york. >> if a person feels persecuted they need to apply for asylum here, the application needs to be considered by authorities here and mandated by international law to be placed
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in a third safe country. >> that is something donald trump advocated and it is no longer there. something that would relieve pressure on the us border, a lot of moving parts and us attorneys don't want to happen. stuart: understood, thank you very much indeed. let's bring in the mayor of gila bend, arizona. last time we were on the show, border patrol, lots of migrants in your town. the problem was brought to light by foxbusiness, you've got some help. bring us up to speed. what is the situation in your town? >> between both of our senators, intro bipartisan fashion and stop the drops in gila bend, we are seeing a substantial increase in the amount of lock in traffic from the border.
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and the most alarming point is seeing a substantial increase in drug trafficking in our core adores here. stuart: have you talked to the white house and anyone in the administration about problems you're still seeing and asked what are you going to do about this? >> not the administration. they turn a blind eye to small towns like mine. they talk to places like phoenix and mesa, places over 100,000 population. luckily, our governor has declared a state of emergency for arizona and sending national guard to the border, we will see a reduction in the amount of drug trafficking right here. stuart: at this moment, your town overwhelmed with migrants and what they bring to gila
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bend. >> we are starting to get to that point, the amount coming into gila bend. they are pretty much a pass-through. around maricopa road where the outlying roads of the area where coyotes pick them up and transport them to larger cities. stuart: have you got a crime problem in gila bend? >> increase in crime. we had armed robbery we don't have in a small rural town like this because everybody knows each other and you are not going to get away with it. an increase in violence crimes. stuart: we are told the arizona national guard would be placed on the border.
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>> they are further down the border. they are a good distance away from the border but my understanding, headed to the border. stuart: what would you like to see the administration do for gila bend? >> the biggest thing the administration could do is complete the wall, in a controlled area, to reduce the amount of drug trafficking that goes through border patrol agents so they are out in the field and not stuck inside these facilities and put a stop to the trafficking, they run a group through, what few agents
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they have concentrated in that area and a load of drugs. stuart: we heard this before, we hope something happens in your favor. thank you for being with us. get to this real fast, but trivia question what is the amount of blues change a person has in their house. i have no idea what my answer will be but we will be back. you're slouching again, ted. expired. expired. expired. thanks, aunt bonnie. it's a lot of house. i hope you can keep it clean. at least geico makes bundling our home and car insurance easy. which helps us save a lot of money. oh, teddy. did you get my friend request? oh. i'll have to check. aunt joni's here! for bundling made easy, go to geico.com hello?! are your hr processes weighing down your employees? on to quarterly projections! for bundling made easy, go to geico.com
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stuart: i think a lot of people must have one of those money jars, you chuck in your spare change because the average amount of spare change in your house is 56 bucks. quick programing note, former president trump joins maria bartiromo "mornings with maria," 7:00 tomorrow morning. my time's up. but neil, it's yours. neil: thank you, stuart, very, very much. we are in a down market, everyone, down 142 points. earnings are not the problem. maybe anxiety what the president of the united states announces tonight with plans for more spending $1.8 trillion plan added to stimulus efforts already. talking close to $6 trillion new spending not all paid with the high taxes, record high taxes. we'll get into that in a second. suffice it to say there is skiddishness whether the any of this will stick and whether the president gets what he wants.

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