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tv   Varney Company  FOX Business  November 9, 2021 9:00am-12:00pm EST

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leggings or pantyhose. good for them to get a little viral marketing. dagen: i am old enough to remember that. here's my review for avis, you get an f. clean your ables, avis -- automobiles, avis is. [laughter] that does it for us. "varney & co." starts right now. stuart, it's all a yours. hey, stuart. stuart: spandex for the next three hours, dagen. [laughter] good morning, everyone. all right. new records for if cryptos. ge, your granddad's stock, reinvents itself, and interest rates keep going down even though there are inflation fears. let's get right at it with bitcoin. it hit $68,000 earlier this morning, and ethereum too is plowing ahead. perhaps the cryptos are now an inflation play? they're certainly popular. it is now a $3 trillion crypto industry. how about that? let's move on to stocks. the dow is going to be down just
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a a little bit, 40 points maybe. a modest gain for the s&p, but look at the nasdaq. it's gone up for the last 11 straight sessions, and it will open higher this morning. that's a rally. perhaps this has something to do with it, the yield on the 10-year treasury all the way down to 1.43% this morning. the nasdaq does well, technology does well when long-term interest rates come down, and that's what's happening. you know, there was a time when no financial broadcast was complete without a quote from general electric. for the last two decades it's been in decline, however. today, dramatic news. ge will split into aviation, health care, energy. investors like it, the stock is up 5%, big gain. i'll show you nvidia which is on an absolute tear as you'll know the you've been watching this program. like all the chipmakers, it's cashing in on extremely strong demand. yes, worth almost $800 billion. politics. speaker pelosi and aoc are now
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in glasgow for the great climate summit. it's tense over there. countries are demanding literally trillions of dollars from rich countries to pay for the move away from fossil fuels. question of the day, how much will biden give 'em? tuesday, november the 9th,2021. "varney & co." is about to begin. ♪ ♪ might as well jump, jump! ♪ might as well jump -- stuart: well, what's wrong with a little van halen to get you going first thing in the morning? i want to get straight to the crypto rally, because it continues. bitcoin above $68,000. that was earlier this morning. it's backed off a bit to 67,9. ethereum also hitting a new high. good morning, lauren. do we know what's behind the
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surge? >> i got two reasons. inflation is number one. bitcoin is perceived as a store of value, a haven against high inflation, and the second reason if you look at ether, it's being burned father than it's being produced -- faster than it's the being produced. ethereum is pushing closer to that psychological 5,000 milestone, and we told you yesterday to you look at the crypto market, it's valued at $3 trillion now. that value has gone up $1 trillion this just one month because you have big investors and tensions now looking for exposure. fear of missing out. stuart: and that's why you've got record highs. got it. thanks, lauren. check futures, please. this is how we're going to open this market in about 27 minutes' time. up for the nasdaq. concentrate on that one. another gain for the nasdaq, a 50-point gain, that's about one-third of 1%, and look who's here on this tuesday morning, bullish brian belski is back.
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all right, brian, the markets are off to a strong start this month of november. does the rally continue until the end of the year straight up? >> good morning, fox business, and good morning, stuart. we think maybe not straight up, but still positive nonetheless. remember, september, i think, scared people with your typical correction. we didn't see the correction everybody else thought we were going to see. we only had a 5% pullback. but november traditionally is the strongest month of the year, number one. number two, earnings did their job, stuart, and companies did a great job in terms of rewarding those earnings that were good and punishing those that were bad. the the stock market is a market of stocks, and we think stock-picking themes fundamental are going to reign supreme into year end as well as into 2022. stuart: why has the nasdaq done so well? >> i think you touched on it with respect to longer term interest rates. i think there's this notion, quite frankly, that outperform
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which is the correct notion and growth rates start to slow down still be os but, nonetheless, slow down in 2022, there's going to be this quote-unquote clamoring for big tech, and we think investors should be along for the ride in terms of owning those favorites like apple, amazon, google, microsoft, those types of names. stuart: what's your target for the s&p? i know you a always follow the is s&p. what's your target for the end of the year? right now it's about 46 9. >> we've upped our target twice already this year, there's no sense of doing it now with only a few weeks to go and, in fact, we're coming out with our forecast for 2022 next week. but at the end of the day, we still think we're in this big, giant bull market, stuart, that's going to last another ten years that, quite frankly, not a lot of investors believe in, and we think there's the still a lot of investors to come in. stuart: most hated rally in a
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long, long time, isn't it? if you're talking about another big, huge rally, you can understand why people are saying, good lord, we've had 12 years already. we can't be going on for another 10. that's what people tell me. >> that's exactly right. think about this, we've had a 40-year bull market in bonds, 40 years. stuart: amazing. bullish brian belski, right so far, and we hope you're right in the future. thanks, brian. we will see you again soon. now this, we have breaking news this morning, came out about 8:0 if on inflation. what's the number, please. >> these are the prices that producers pay to stock their shelves, up 8.6% in the 12 months that ended in october. that is ten straight months of annual increases. so inflation is persistent. at the core level, if you strip out gas and food, prices rose 6.8% annually.
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but i pulled a number for you, and i think this really tells the story. if you look at final demand for heating oil, up 115% in the it's year. that hurts consumers in the pocketbook but also consumer confidence, and that impacts how they spend their money. stuart: pray for a warm winter. now show me robinhood. we have news this morning of a huge hack. millions of customers' names and addresses exposed. is it that big? >> 7 million total out of robinhood's 22 million account. no social security information or financial data were compromised, be the big -- but the big takeaway for me is how this imposter got in. he did it on the phone. he pretended to be an authorized party to customer support. usually, you know how things work these days especially with apps and clip currencies, for instance. you always have to e-mail to get someone's attention, but it's
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part of a new cybersecurity vulnerability that they call voice phishing. stuart: that is a vulnerability, big one, too. lauren, thank you very much, indeed. i want everyone to look at this cnn poll. it shows 58% think president biden is not focusing on the right issues. i repeat, that's a cnn poll. sean duffy's to with us. how long can the president ignore these polls? >> well, listen, he had three years -- has three years until he's up for re-election. and it doesn't seem like he's paying attention to his cascading poll numbers, because if he was, he would change course. instead of talking about shutting down a pipeline in michigan when we're having energy costs rising, people are going to have to heat their homes this summer, their gas a tanks, cost more to fill them, he'd be looking for more american energy. he's not paying attention to the real concerns the american people have, and so i think this is not the low. he's going to keep falling.
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and, by the way, if you look to next november, this is going to be catastrophic for democrats trying to win elections in the midterms in '22. stuart: you don't think the president will try to pivot? >> well, there's no sign of that right now, right? to you look at inflation, you look at the border, you look at crime, the supply chain issue, he just kind of throws his hands up and is not engaging in the issues people really care about. he's talking about gender and race and the weather. it's easy to pivot. and he's my concern with the president. he was talking to a local news outlet, and he's talking about his poll numbers are not that bad. he's doing well. i don't think he actually understands. he's not reading the actual polls. i don't think he has advisers that are laying out the truth to him about how bad it really is, where americans really are with their view on his presidency. the biggest issue i saw in the poll, stuart, is the major drop that's come in the last month are not coming from republicans
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or independents, these are biden voters. biden voters are saying he's doing a horrible job. that is -- warning signs are going off. the bells are ringing, and the flashing lights are roaring. stuart: do you think he's just being deliberately kept uninformed? i mean, are his handlers just keeping the bad news away from from him so he's surprised when presented to him? >> so i've bet on this situation before, stuart. listen, my staff -- my pollsters could never keep me from bad news. i want to hear the good, the bad and the ugly. i want to know where i stand with my voters. if he had the mental capacity to dive in, he could know. to your point, i think those who are telling him the way he stands in polling are actually being dishonest with him. joe biden is a good politician. you don't stay in washington for 50 years unless you know how to do it. he's been there a long time. i think old joe biden would see
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these polls and change course, but here's the problem that he has. you know, he's playing to this elite, liberal base that loves him, and they don't care about gas prices. they don't care about, you know, the border issue, the supply chain issue. they have enough hundred -- they don't know what milk costs in the stores. it's the middle americans, the voters that you actually need to win elections that have walked away from the democrat party. they're the ones that can't afford the increase in prices, they're the ones that can't afford to heat their home and put gas in their car. and they're the ones which have traditional been members of his party, part of the voting bloc that democrats have completely walked away from. tooth institute got it. sean duffy, see you again soon. let's get back to the futures and see how the market's going to open. the dow's going to be down, but the nasdaq's going to be back up again. an msnbc guest claims white
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voters don't actually care about kitchen table issues, they just want to turn their guns on black people. roll tape. >> what the democrats' theory of the case is, is that the white, non-college-educated voter cares about things like kitchen table issues. i contend that what hay care about is using -- they care about is using their guns on black people and getting away with it. stuart: ross smith's going to be here later on. he'll take that on later in the show. abc news roasted for using their platform to tell vaccinated people to keep wearing masks and avoid crowds. dr. matt healthcare mccarthy reo that right after this. ♪ didn't have a dime, but i always had a vision. ♪ always had high hopes ♪♪ i'm so glad we did this. i'm so glad we did this.
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at xfinity.com/moving. stuart: oh, the prompter's gone out. a temporary halt has been placed on the, on the mandate, the vaccine mandate for private businesses. lauren, come into this for a second, because i understand that the white house is still saying go ahead with the vax mandate for private businesses. >> they are, stuart. the white house deputy press secretary says that states and companies claiming that the mandate causes harm are doing so prematurely, and the mandate saves hundreds of lives a day. listen here. >> people should not wait, they should continue to go move forward and make sure that they're getting their workplace vaccinated. >> so a court of appeals for the 5th circuit has halted the federal mandate, says it poses
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grave constitutional issues. the government says keep on going with it. and yesterday, the 8th, was the deadline for federal workers to be vaccinated, so today they could face possible disciplinary action if they are not, stuart. >> okay. lauren, the squeeze is on, quite clearly. all right. dr. matt mccarthy joins us now. doctor, i've been seeing a lot of reports about long covid and how serious a problem that is. is it serious? >> well, this is very serious. the thing that we have found out during this pandemic is that the end is not going to arrive from a press release from a pharmaceutical company. it's actually going to arrive once we get a handle on all of the unusual things that this virus is doing to people. and one of the things we're finding is that, yes, we now have safe and effective vaccines, we have therapeutics, we've got pfizer and america with these pills -- merck with these pills, but what i see as a
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clinician who follows up with patients, is that i'm seeing a disturbingly large percentage of them have symptoms that last for weeks, for months and even in some cases for over a year. and until we get a better handle on this, on this long covid, we can't start thinking about really throwing caution to the wind, getting rid of the masks and saying covid is completely done with. so there's this talk now that the end is in sight, and i think we're getting there, but we can't quite get to the end until we wrap our heads around. what we're seeing in study after is between 25, 30, 40% of people are reporting symptoms that that just won't go away. so when we talk about, you know what, get back to completely normal life, i think a lot of us are ready to do that, but there's going to be a small subset is of people who are saying, wait a second, this virus can do some long-term damage. how can we tell people to go and live a normal life when we've
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got a pill, but that pill is going to be chasing the virus or? that's going to be the after you've already become infected. so what we're doing behind the scenes, quietly, is that we're working on teasing out what this long covid really is. and we're getting more and more answers all of the time. and i think that that subtle issue, the one of long covid, is going to be the thing that ultimately gets us over the hump so that we can say, all right, time to get back to normal life. you don't have to worry anymore. because people like me are worrying behind the scenes getting an answer, and we're going to have answers very soon. stuart: well, doctor, i check the charts every day for literally a few months i've seen a down trend in the number of new cases. but today a turn-around, ask we're up -- and we're up 5. that's over the last 14 days on average. there's a cause for concern. it's obviously not completely over. >> well, this is so confusing to people, right? we're rolling out boosters, we're rolling out vaccines for kids, why would things be
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getting worse? and it's clear that there is a seasonality to this. when people are indoors breathing the same air for long periods of time, the virus spreads. that's why it happens in florida in july and august, and that's why it's going to happen in the northeast in december, january and february. and so we have to be prepared for that. you know, if you're planning a trip down to florida right now, this is a great time to go. they've gotten over their wave. if you're planning a trip to new york, you have to be prepared for the fact that cases may be going up. this is not because the vaccines are failing, this is not because the therapeutics are failing, it's simply the seasonal aspect of this virus. it's something we're prepared for and something to plan accordingly so you can still gather, you can still have a big holiday party, but if cases are really, really high, you might want to institute testing before that office party. you might want to think about having it at a place that could be outdoors with heaters. these are all things we're going to learn to live with. but they shouldn't come as an
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alarming surprise. we're seeing cases start to creep up where it's cold. if you look august to today, it's almost like the united states has flipped. the places that were on fire have been doused, and the places that were cool are starting to heat up again, and we're expecting this. stuart: got it. dr. matt mccarthy, appreciate the information. good stuff. separately, a doctor with the national institutes of health taking a stand against vaccine mandates. tell me more about that, lauren. >> he's unvaccinated but not anti-vaccination. he supports it in high risk populations. but it's ironic -- [laughter] that even the nih where dr. a few works is not all in -- dr. fauci works are not all in agreement. there is discussion on the ethics of mandated vaccination, ask that is set for if -- and that is set for december 1st. stuart: right. united airlines workers challenging the company's
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vaccine policy that they lost in court. i believe they lost, correct? >> they did. so a federal judge ruled that corporate policy on the vaccine is a human resources issue. it's not the courts. so this is united's policy: you get vaccinated, or you go on unpaid leave even if you have an exemption. yes, that's callous, but it worked. 96% of the employees at united are vaccinated. there you have it. it's callous. stuart: got it. yep, yep, yep. 3 or 4% are not vaccinated, and they're not working. that's very interesting. lauren, thanks very much, indeed. one more quick check of futures. we've still got a nice rally in the nasdaq, up nearly 60 points. the the opening bell is next. ♪ ♪ if
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the cryptos, but this looks like a melt-up in the cryptos. what do you make of it? >> well, i think it definitely reflects all the liquidity in the system, and there are lots of people who believe that's a good inflation hedge, it's a good speculative investment for the future. i can't do much with it because i usually like the value earnings or dividends, something, some cash flow that i can get a discounted value on. i mean, i don't know what it's worth. it could go to 100,000 or a million or it could go to zero. it's just impossible for me there there if a fundamental perspective. a lot of people look at the charts, they see that those charts are showing a melt-up, and it's fomo, you know? they don't want to miss it. fear of messing it. missing it. stuart: what do you make, has the santa claus rally arrived early? i ask because the nasdaq's been up for the last 11 straight trading sessions. it looks like a rally towards
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the end of the year, santa claus comes early. >> i think the calendar's a little off when you look at the financial markets because halloween actually arrived in september for the market, and now october was a very good month, november, december, i think we continue to see the santa claus rally. so buckle up. it's a melt-up. but the good news is a lot of the melt-up we've had this recents has been based on upward revisions in earnings expectations. not until valuation multiple. but in the past couple of days, we've gone up to about 21, 22, so we're starting to see a little bit above -- stuart: 30 seconds, e.. do you -- ed. do you see anything on the horizon that could really upset things? >> in the near term it's hard to see much other than geopolitical risk. the issue between china and taiwan is very unsettling and unpredictable where that goes. other than that, there probably
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will be a change at the fed, and i think powell will probably not be reappointed and lael brainard will be. the market will take that in stride. stuart: ed yardeni, thank you very much for being here. we're looking at them ringing that opening bell, clapping and cheering. the market opens in literally 5 seconds. we're expecting a gain for the nasdaq, not that much change for the dow industrials. here we go. we are now trading on this tuesday morning. right from the start we've got more sellers, more downward stocks for the dow 30 than winners. we're about two-thirds down, one-third up. the dow, though, only down 0 if points. it's still well above 36,400 as we speak. the s&p up today, a fractional gain, .11%. the nasdaq, i'm waiting for this. let's see what that's doing. it's up a quarter of 1%. again, as i keep saying, it's up
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11 straight sessions and up again this morning. big tech, all of them now moving higher, microsoft, apple, alphabet, amazon and what we now call meta-- which used to be called facebook -- all of them on the upside. general electric is splitting into three public companies. tell me more, susan. >> yeah, the company founded by thomas edison almost 130 years ago is splitting into three companies, aviation, health care and power. and the name and the ceo, larry culp, will go on to live at ge aviation. i'm sure you remember the days when ge was america's biggest company, but as you know, it's struggled over the past 20 the years. ceo larry culp has been trying to turn the company around for the past three years, and ge did that reverse stock split this summer. it helped the stock, but it really didn't help the business, and we know that the aviation business, its main supplier will be to boeing, right?
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$22 billion sales business, power renewables, that was actually surprising, actually a bigger sales business at $33 billion. stuart: got it. now let's talk about nvidia because luminar ask is nvidia have some kind of deal going here, and i believe it's self-driving technology. >> absolutely. the world's biggest chipmaker continues to get bigger, nvidia with that lie dollar 3-d laser mapping company luminar found by that 25-year-old billionaire austin russell when to listed on the nasdaq just last year. nvidia will use luminar's lasers in self-driving technology. up 135% so far this year, and one ofif the main benefactors of the metaverse, will use avatars as assistants. the other chip beneficiary, amd, they're going to supply the chips for meta, or facebook's,
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servers. and it's gone vertical just in the last few months. stuart: just amazing performance, i've got to say. we've been talking about the it for a few weeks now. roblox, the i believe they're looking at a huge gain, susan. i guess we're still playing a lot of games, right? >> and this would be a short squeeze as well since there were some doubters on the stock. they had a fantastic quarter, doubling revenue in those three months. daily active users jumping by over 30% to now over 47.3 million visit roblox each and every single day, and half of those users are under the age of 16. the demographic is more of the kid range. that three-day outage in october, that really wasn't a big deal. small decline in daily users, only $25 million on lost booging, row -- bookings. investors are betting on a huge growth potential especially with such young users. think of the pipeline.
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stuart: susan, we just put amc on the screen, and i notice that it's a huge drop, down 6, 7%. i thought we were going back to the movies in droves. what happened in. >> that is true. amc welcomed back 40 million movie lovers around the world including in the u.s. however, they still lost money. i mean, $225 million that they lost in the summertime. that was actually less than expected, but if the increasing cost, it's going up faster than the rise in sales, and that's never, by the way, a good equation. amc still has around $1.8 billion in cash, and they are expanding into their retail popcorn business with stores and delivery. and, you know, you could imagine, stu, if you're selling popcorn, that's a pretty high margin business if i can just pop it at home and put some butter into it. stuart: you've got to sell an awful lot of popcorn to make a serious profit. paypal, on the screen right now, down 8%. what happened? >> well, they're trying to shift
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away, this is a core they really wanted to ramp that up, so fourth quarter forecasts came up short by a lot. not just a little. and next year will not be as great as anticipated. they had 13 million new active accounts which brings the total to 416 million accounts, that's the good news. and as i mentioned, they're shifting more towards amazon, that interesting deal that they defined with amazon which will let amazon users pay with venmo at checkouts starting next year. and crypto also helping out maybe not as much as what the street had anticipated. you have venmo looking at crypto users driving their sales to $60 billion over the summer which is a big number, as you can imagine. stuart: yeah. we've got a lot of big numbers bouncing around this morning, susan. 416 million paypal users, how about that? tesla down the just a fraction. looks like they bounced back a little bit, at least after musk's big announcement? >> right. it did bounce back more than
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that, but here's the deal. hertz is becoming a listed company once again, so they have these december displays out near times square with the new tesla model. and you know hertz is buying 100,000 of those model 3s and model ss and other tesla models to add to their fleet. we're not getting any indication how many deliveries they'll get every year, but you can imagine tesla is probably the most talked about on wall street bets, and when retail gets in like they have over the past year, that'll continue. stuart: got it. susan, thanks very much, indeed. let me separate out and look at the dow winners. top of that list is home depot, doing very well. cisco, nike as well. s&p 500 winners, show me that list. not surprised, ge up 7% right at the top of that list, and nvidia with made the list as well. nvidia is the top stock on the winners' list for the nasdaq.
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again, up 3%, $318 per share, up 135% in the past 12 months. now nvidia, quite a performer. next case. the white house says it is not considering shutting down a crucial pipeline. watch this. >> reporter: why is the administration now considering shutting down the line five pipeline? >> that is inaccurate. that is not, that is not right. >> reporter: the administration's studying the impact of shutting down the line five. >> yes. yes, we are. stuart: ah. studying, not necessarily considering. that's a lot of spin, if you ask me. one high school quiz in california asked students to identify a group of idiots among the multiple choice answers, all of florida, the kkk and, yes, fox news. is this what our kids are being taught in class these days? yes, it is. democrat senator ron wyden wrote the billionaires' tax.
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his own millionaire son is blasting him for it. adam says his dad, quote, hates the american dream. what will larry kudlow say about that? larry is next. ♪ it's a family affair, a family affair. ♪ it's a family affair ♪♪
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♪ we are family, i've got all my sisters with me ♪♪ stuart: a nice shot of fall foliage. that is asheville, north carolina. lovely day. sunny and chilly, 44 degrees. democrat senator ron wyden, he's been a vocal advocate for the so-called billionaires' tax. all right, lauren, what is his son saying about that? >> yeah.
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so senator ron wyden chairs the senate finance committee, lasted elon musk for using twitter to blow holes in democrats' ideas of taxing unrealized capital gains. so his son, adam, a hedge fund manager, tweeted this: why does he hate us? the american dream so much? reality is most legislators have never built anything, so i guess it's easier to mindlessly and haphazardly try and tear stuff down. and he ended his tweet with, thankfully, i can compound faster than my dad and his cronies can confiscate. okay. imagine thanksgiving dinner at the family table, i cannot. [laughter] let me tell you one thing about adam wyden, he did recently make $100 million, and guess what? he moved to florida. i guess if he's a member of any political party, it's, you know, evading a big tax bill. and florida welcomed him.
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stuart: i really like the sound of that. that's good stuff. thanks, lauren. let's see what larry kudlow makes of this, because he's joining us right now. sounds like a family fight right there. [laughter] but, you know, i take the young man's point -- [laughter] because he has this vast store of wealth from the stock market, and the left is going after it, and they're going to keep on going after it, aren't they? >> yeah. stu, this is a great story. this is a truly wonderful story without any question. look, the son is obviously a lot smarter than the father -- [laughter] and the son obviously knows economics better than the father. look, i know senator ron wyden, known him for years. he used to be really a legitimate tax reformer, okay? now he's turned into a kind of democratic socialist class warrior, okay? he wants do to confiscate wealt, he wants to punish success, he
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wants to damage investment which in turn will cost jobs and wages. the kid understands american free enterprise. if -- the american dream. and i'm delighted he's gone to florida to preserve his wealth, and i think that last line -- [laughter] he can compound faster than his father can confiscate, that is priceless! that is absolutely priceless. there's a bumper sticker there someplace. stuart: yeah, there is. that's right. [laughter] all right. the inflation numbers today, wholesale price inflation up 8.6% year-over-year. does that, is that to you an indication that higher inflation is still to come? >> yeah. well, look, i'm pretty worried about inflation because what was supposed to be temporary has lasted a whole lot longer. now, look, stu, i think a couple things here. one is some of this is what i call pandemic inflation, supply
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shortages, supply chain problems although there are regulatory and union issues involved in that that could have been solved earlier. but some of that is probably unavoidable. however, i want to make two other points. number one, because the biden administration has clamped down on the fossil fuel industry, we are only producing 11 million barrels of oil per day. we were producing 13 million barrels of oil per day pre-pandemic. that shortage of 2 million barrels is contributing mightily to the hike in gasoline prices and inflation, and those are middle class costs that are, you know, very, very difficult. the last point i want to make is fed vice chair richard is an old friend. he said in a speech yesterday, the day before, the fed has way overshot its inflation target. but look at, stu, you could have continuing inflation unless the
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federal reserve was pouring in excessive money creation. there's a fed component that worries me a lot, because they can take transitory inflation and make it permanent for the next ten years, and that would be a tragic mistake. stuart: and president biden can fill three spaces on the federal reserve, and he's likely to fill the federal reserve with people who will keep on printing to fund his spending plans. that's not a promising outlook. >> no, i absolutely agree with you. that's a big, big concern. you know, you've got a lot of people in this regulatory space, stu, that want easy money, zero interest rates, they don't care about inflation. meanwhile, there's bank regulation issues. you've got a woman from moscow state university that was in a marxist facebook group and won't show us her thesis. she would be the controller of the currency. and you'll have new appointments to the federal reserve board we
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with equally leftist view ises. people hate banks. well, they shouldn't hate banks. banks are very important to the system, and banks are well capitalized which is really the key point. they're healthy and well capitalized. don't do to banks what you're going to fossil fuels. stuart: yeah. please don't do that. larry kudlow, we'll be watching you on fox business, 4:00 ian this afternoon. see you again soon. now this. the holiday season has begun as people have started to shop for the perfect gift. okay, here we go. we've got one of those surveys, how much are people going to be spending. i'm not keen on these surveys -- >> i know. stuart: -- i don't believe them. but tell me what's the average person going to spend per-earn this holiday season? >> the average parent is dropping $276 on each child under 18 and then $250 on each other. that according to credit
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cards.com. it's about the same as last year, but the concern is that families will be taking on more department to pile the presents you should the tree. -- under the tree. in fact, 6 in 10 with credit card debt say they plan to add to that debt just to afford gifts for the kids. 276 per child. stuart: come february we should look back and see what people actually did spend, parents on their children. i mean, i don't believe it. anyway, we reported it, and i'm glad we did. thank you, lauren. [laughter] next question, where in the world is gavin newsom is --? the camera-friendly governor hasn't been seen for 12 days and counting, since he got his booster shot. and american manufacturers on the road, they want to hire more workers. connell mcshane has the story live from iowa after this. ♪ ♪ pleasure -- they call me the working man. ♪ well, they call me the working
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stuart: manufactureers are reeling fromr shortages. they estimate they'll need 4 million extra manufacturing workers by 2030. connell mcshane joins us from
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pell la, iowa. tell me about these mobile road shows looking for workers, connell. >> reporter: i mean, they're just trying to do anything they can to make the industry more attractive, stuart. you talked about 4 million positions long term, we're told there are 900,000 openings in the industry right now. let's show you around this facility where i am right now. as you look around the floor, it looks fairly active. there's a lot of activity going on, a lot of agricultural machines being made if, but the fact of the matter is there are just not enough human workers on the floor to make products fast enough to keep up with demand. so we're hearing a sales pitch from ceos to the next generation that these jobs are not dark and dirty anymore. >> modern manufacturing is clean, bright, high-tech, engaging, and the oldster yo types about manufacturing -- old stereotypes need to be dispelled, and students need to know that coming into manufacturing, making a career
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in manufacturing would be a wonderful choice. >> reporter: now, to that point you were making about the road shows, national association of manufacturers have gone around the country, ceo jay simmons with me yesterday, they have this thing called creators wanted. they have a kind of an escape the room, the if you've ever seen those, and they're creating manufacturing with science and technology. >> all of the s.t.e.m. programs right now, after you graduate, the jobs are in such high demand that you will have full companies bidding for you. come work with he, we'll pay you this. no, come work with me instead, we'll give you more. so that did happen after i graduated. >> reporter: that young woman there, mandy, she works in the industry now. we heard a lot of stories, i went to pella, the company that makes windows and doors, heard similar stories there. she was making the point they'll
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pay for your education, it's anything to get you in the door. i was talking to some of the ceos about this yesterday with president biden still making the push for the vaccine mandate, some ceos were telling me even if they personally agree with the mandate, some do, they're worried that it will make this issue, the worker shortage, an even more challenging problem, stuart. stuart: we hear you. connell mcshane in iowa, thanks so much. still ahead on the show today, kansas senator roger marshalling, florida congress byron donalds, brian kilmeade and jocko will link. the 10:00 hour of "varney" is next. ♪ -- it opened up my eyes, i saw the sign. ♪ life is demanding without understanding. ♪ i saw the sign, and it opened up my eyes -- we got this. we got this.
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why? splitting into three companies, aviation, health care and power. investors like it. up 5%, a big move for a big stock. cryptos, bitcoin, ethereum hitting new highs. this may have something to do with the inflation numbers. the cryptos are an inflation hedge. 10-year treasury, look at this, the tumbling the yield down to the lowest since september 24th. you're at 1.44% as of now. that is the financial market this is tuesday morning. now this. we're not used to inflation and we don't like it. there are some ominous signs we're about to enter a period of fast rising prices just like the 1970s. another parallel between joe biden today and jimmy carter back then 40 years ago. back then gas prices symbolized inflationed. same thing today, it is when you pump gas you come face-to-face with sharply rising prices.
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president biden is not doing anything about it. in fact he is making things worse. closing pipelines, banning drilling and starving the oil patch for capital does not bring prices down. we should remember the lessons of the inflationary '70s. living standards declined. wage gains were wiped out. america suffered from a very bad case of national malaise. this president is locked into inflationary policies. biden and democrats should remember how the carter years ended, a severe recession and then the election of ronald reagan. second hour of "varney" just getting started. ♪. stuart: all right. scott shellady joints us this tuesday morning. scott, do you see a strong parallel with the 1970s. >> well, obviously we do with the inflation issue but there is
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one difference, stuart, i think jimmy carter genuinely loved the country. i think what we've got facing us now are people that just don't like america. you keep saying and i keep saying the same thing. we go to bed at night can it get any worse and every morning it actually does. how are they doing, coming up with these policies. they don't like the way america looks to them right now. they want to reshape it. that is why we have the problem with inflation. look, we had 2008 happened where we drove interest rates into the floor to save the economy and stop spiraling out of control and we didn't go into recession. we have zero interest rate policy, remember that? we couldn't buy inflation. maybe there was another planet who had inflation to take over. now what we've done with energy, because the left hates fossil fuels so much, we're no longer
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energy independent. we're no longer net exporter. we've lost control of our energy prices and energy touches everything, stuart. there is not a single sector of our economy that energy is not baked into the price somehow, somewhere. when you lose control of your energy pricing you lose control of your prices period. that is why we've seen inflation really take off like it has. stuart: well, listen to this, scott, the white house backtracking after slamming pipeline reporting as inaccurate. listen to this whole exchange. roll it please. >> why is the administration now considering shutting down the line 5 pipeline from canada to michigan? >> so, peter, that is inaccurate. >> but inaccurate -- >> reporting, reporting about us wanting to shut down -- >> i didn't say wanting, is it being studied right now, is the administration studying the impact of shutting down the line 5? >> yes we are, army corporation
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of engineers is preparing a environmental impact to look through this. stuart: right, so they're studying shutting down the pipeline. how bad would it be if they did shut down the line 5 canada to u.s. pipeline? >> it will only drive things, drive prices higher. put people out of work like they did with the keystone xl pipeline. this is because they hate fossil fuels and they don't like the country. that is why. they will drive us come hell or high water to renewables which can't handle the grid we need for our power. they are not changing our behavior. we're not rushing to renewables because gas prices are high, we're paying more for gasoline prices. it's a tax across the board. that is the problem here, stuart. listen how they talk to us. that report was generally correct was the reporter was saying. it wasn't factually 100% correct, that is the same way for the $450,000 for illegals.
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biden called it garbage report it wasn't the right dollar amount. the operations are all the same. operations for shutting down the pipeline all the same. because we don't have it exactly correct because they say it is inaccurate and not true. they are the ones being shifty and obfuscating. that is the problem. remember if something trump did we have to get rid of it it is bad. if it has anything to do with fossil fuels, it is bad. what that does, nobody wants to buy stock in british petroleum or shell oil. nobody wants to do research and development. nobody is investing in fossil fuels because this administration hates it. so that is driving the price up even more. that is the problem. they hate fossil fuels and make you pay forfeit you still want to use them. one thing they want to drive us over can't handle the load. that is the problem we're in. we've lost control of our energy pricing so we'll lose control of
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goods and services pricing. stuart: we're paying for it. scott shellady. good stuff. see you soon. that is the energy market. oil prices, gasoline. look to the stoke market. lauren is looking at movers. i see paypal moving down 11%. what is the story? lauren: several brokerages cut their pricing. wedbush took them down from 240. they don't like the tepid guidance. look at cardinal health, that is also moving larger, lower. this is an inflation story. strong earnings, big demand for their prescription drugs but they're forecasting about $100 million in increased costs because of the supply chain issues and that would affect the cost of their medical devices and maybe the sales of them too. finally headlines, seaworld, turned a profit in the quarter but the stock is down 5%. here's why. theme parks, all open, no limitations but the international traveler, they couldn't come here in the quarter as easily.
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so that limited seaworld's ability to get more ticket sales. stuart: okay. one thing, morgan stanley talking about the risks of a market bubble are growing. i don't like the sound of that. lauren: comes from the chief investment officer there. she says she is concerned that the federal reserve policy is divorced from the fundamentals. if you look at negative real yields or the difference between rates and cpi, that is rocket fuel for these asset bubbles. so while yeah, the fed announced a taper of their bond purchases, it leaves rates unchanged until when? the middle of next year maybe? meantime, speaking of inflation we're seeing oil, stocks, cryptos, even housing prices surge. we'll get more on housing particularly with the rents component tomorrow when we get consumer price inflation. stuart: yes. look at the impact on the market of all this inflation talk. dow is down 160. nasdaq is down 123.
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next case, a headline for you, it is from "the wall street journal." i will read it. virginia's phony culture war. within mcgurn wrote that, he joins you now. one week ago the left loss virginia, are they now blaming culture wars? >> yeah. that seems to be, the accepted, received wisdom republicans launched culture war, whether it was for white supremacy or something. before i go there, just want to say, stuart, on your inflation point, absolutely right. it is worth pointing out when joe biden says he will not tackle under 400,000, this belies that because inflation is a tack and attack on working people when their paychecks are eroded. glenn youngkin in virginia tried to run a bread and butter campaign. you can't get more bread and butter that eliminate a grocery
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tax that hits bread and butter. they use i accused him of launch agriculture war because they brought up education when they're the ones doing it. stuart: yeah. can i segue to donald trump because he is making a lot of news recently. he says, he will make announcement about what he will do in 2024 after the my terms in 2022. this same questions keep coming up all the time in political circles. should trump run for the presidency? can he win? would you like to answer both those questions? >> well look it is up to donald trump. he is certainly not going to take direction from me. he is still very popular in the republican party. i personally didn't really think he was going to run. you know, i think it would be easier to get the republican nomination than win in the general election but who knows if joe biden keeps thinking the way he does, i mean a year from now, we could be in far worse
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conditions. we could really be in jimmy carter land. stuart: okay. you're a diplomat, bill. you're holding back a little bit. get back to us. >> last word i don't think he will tell us until the last minute because all of these guys know if you say you're not going to run, people stop paying attention to you. and one thing he does have power over, he can probably ruin it for some other republicans even if he couldn't win himself. that is a permittable power. stuart: yes, it is indeed. another diplomatic answer, bill. that was very good inteed. bill mcgurn, "wall street journal" guy. thanks, bill. >> thanks, stuart. stuart: republicans scored a resounding victory in virginia as we've been telling you. a close race in new jersey as well. lauren: yeah. stuart: what is this about corporations now wanting to get involved again in political races? i thought they were always involved? lauren: well yeah, but then the
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companies that contributed to gop causes and politicians were vilified, remember? back in january after the riots on the capitol, vilified for any donation given to any republican but we've seen the sea change in the political environment. so now companies after what we, we saw in virginia and the close call in new jersey, they're realizing, oh, okay. the midterms are upon us. the house very likely will flip. we might have to re-engage with republicans once again after being bullied into canceling their donations by so many people. stuart: wouldn't that be nice? lauren, thank you very much. now this, california's governor gavin newsom, has not been seen in public for two weeks after getting his covid booster shot that is. but he managed to attend an oil heiress wedding officated by speaker pelosi. we have the story.
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democrat senator ron wyden, his son is blasting him because he wrote the billionaire's tax. his own son is a multimillionaire. he says his dad hates the american dream. we're following up on that one for you, believe me. remember white house said it wasn't the government's roll to mandate vaccines, roll tape. >> vaccine mandatory. >> no i doesn't think it should be mandatory. i wouldn't want it to be mandatory. >> that is not the role of federal government, private sector entities others may sake that is certainly appropriate. stuart: a group of republican senators now vowing to block the funding of, block funding for vaccine mandates. senator roger marshall leads that charge. he joins me next. ♪.
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♪. stuart: very interesting music. lips, inc., funky town. what you're looking at is the kentucky horse park in lexington, sunny, 56 degrees right there. look at the markets. check them again please. last half hour, we have the dow down, what is it 170? nasdaq come back a bit. it is still down 78. another check of roblox, please. look at them go. we're apparently doing a lot of gaming. that stock is up 26%. could be a short squeeze. it is up 26%.
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zynga, another gaming company, their earnings are up 8%. next, unvaccinated nih expert is pushing back against vaccine mandates. what is he saying, lauren? lauren: he says they're not ethical and could do more harm than good in the end. the national institute of health is not taking into account robust immunity you can gain through natural infection of covid-19. this doctor supports vaccination even for covid for those in high-risk populations like the obese and the elderly, but he says, look, judge it, push it, use it on the merits. don't mandate vaccination. stuart: there are quite a few attacks on vaccine mandates. here is another one. a group of republican senators tried to block funding for the vaccine mandates. senator roger marshall is leading that charge and he joins us now mr. senator, do you oppose all vaccine mandates
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coming from the federal government for federal workers and private enterprise? >> absolutely, stuart. i support the vaccine but not vaccine mandates from the federal government. they are treating like felons their heros in the military, right? doctors and nurses out there, my phone is blowing up on people i went to medical school with, doctors concerned about the vaccine mandate. i can't walk from the chiefs game to the hot dog stand without getting asked about this. i can't go to church. i can't go to walmart without getting inundated. people are so concerned about the vaccine mandate. i'm fighting hard to stop all of joe biden's unconstitutional federal vaccine mandates. stuart: so you're trying to deny funding for the mandate, that is how you're trying to stop it, right? >> right. stuart. we're going to use every tool in the tool box. one of them is to stop funding for the federal government but that will be up to senator
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schumer. we're asking him to include in the next funding bill language that would prevent osha using any funding dollars to enforce this unconstitutional executive order from the president. so we'll use every tool at our disposal. there is a congressional review act that senator blackburn is leading a charge also to protect those heroes i was mentioning earlier. stuart: the governor of your state came out against biden's vaccine mandate. seemed, she is a democrat. seems like, are you making progress across the aisle? >> well i think we finally are, stuart. i would encourage all democrat governors to speak to the white house because they're certainly not listening to the people across the country, right? and i what i would do is just encourage our governors to fight with our attorney general eric schmidt who is fighting hard for kansans and suing the federal government over the issue. we need the democrat governors
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to call the white house. we need them to join the lawsuit to stop this. look, this will drive up inflation. it will exacerbate our labor shortages and even clog our supply chains worse. there are so many downsides to the federal vaccine mandate. is there anything else joe biden can make a bad decision on? now all the decisions are piling up one on top of the other. stuart, i ran a business once upon a time. you make three bad decisions, it becomes 27 problems and that's where we're at now. stuart: understood. i'm sure you saw this i would like your comments. senator ron wyden proposed a billionaires tax. now his millionaire son said his dad doesn't believe in the american dream. he is blacked by his own son. what do you make of that, senator? >> that is news to me. i want everyone to pay their fair share of taxes but what i know is, if we keep going down this reckless taxing policy that
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the democrats are throwing at us, it will destroy the economy. your listeners get this, right? if we start taxing capital gains at a higher rate we'll do less reinvestment to our businesses. most of us, most of my friends that run businesses love to grow their businesses rather than pay taxes. so their policy will be destroying businesses and i got to say one more thing. was it ronald reagan that said, a poor man never hired me, right? everyone should pay their fair share of taxes though. stuart: got it. senator, great to have you on the show again. we appreciate it always. see you again soon. thank you, sir. >> thank you. stuart: to california, governor newsom there, he has not been seen for nearly two weeks. he abruptly pulled out of the climate summit after having a covid booster shot. do you know what is going on here, lauren? >> the reason he missed glascow was family obligations. speculation is running rampant where the normally highly
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visible positive is. that prompted this tweet since deleted by his wife. funny how certain folks can't handle truth. when someone can sells something maybe they're in the office working. free time they're at home with their family or ad kids sports matches, dining with their wife. stop hating, get a life. governor newsom attended ivy gettings wedding over the weekend. nancy pelosi officiated. one of her dresses made of mirrors, the talk of "vogue," one of the pictures you see governor newsom in the backdrop. that is where he was. stuart: i'm so glad we know. thanks, lauren. florida's governor, ron desantis, he says more than 70 flights of migrants have been flown into the state. he is going after the private companies helping to facilitate the flights. byron donalds will take that on
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next hour. cnn april ryan presses secretary buttigieg on racism built into roads. >> can you give us the construct how you will deconstruct the racism that was built into the roadways? stuart: racism built into roadways. we'll let rob smith take that on. he is up next. ♪ dad, we got this. we got this. we got this.
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stuart: a guest who appeared on msnbc claims white voters don't care about kitchen tables issues. watch this. >> what is democrat theory of the case, the white non-college educated voter cares about things like kitchen table issues, infrastructure pipes and how many gallons of milk put on the table. i contend what they care about using their guns on black people and getting away with it. that is what they want. that is what they actually are
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in it for. stuart: rob smith joins us, fortunately. i'm glad he is here to respond to that. take it on. have at it, rob smith? >> first of all when you think msnbc cannot get any nuttier, you see a clip like that, oh, my god. anyway, i think what you're seeing on msnbc right now is the msnbc bots are malfunctioning. they are saying things they just cannot explain. they cannot explain win of youngkin in virginia. they cannot explain the fact that the republican voters voted in the first african-american lieutenant governor in virginia winsome sears. yet they revert back everything is racist, all white people are racist, white supremacist ways. that is how they analyze voting and how they analyze voters. the thing about this, stuart, every once in a while the left, at a time they are dealt with a very big loss. it happened in virginia last
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week t happened in 2016. they can take the chance to say okay, maybe we should step back and look what we're saying. maybe we should try to speak to voters in a bit of a different way and every time they're given the opportunity for self-reflection they choose to completely ignore it and go back to calling republican voters white supremacists. it is completely insane but this is the world they live in, in that msnbc, liberal media bubble. it is ridiculous. stuart: you know on a similar note, cnn's april ryan is facing backlash for this question that she put to secretary buttigieg. watch this. >> can you give us the construct of how you will deconstruct the racism that was built into the roadways? stuart: all right. can you handle that one? the racism that is built into the roads. what on earth is that all about? >> yeah.
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so i will be a little even keeled with this one. april ryan get as little bit of a pass on this one but other ways she doesn't get a pass. i wail explain. i think she is trying to say a lot of five-lane highways like that, disruptive to the neighborhoods, when they come up in, when you look at the big cities a lot of it is disruptive to lower income black and latino neighborhoods just like more rural areas or more whiter states, disruptive to lower income people in general. this is what she is trying to articulate, but she is not able to do that without sounding like a complete maniac talking about literal racism built into roadways. april ryan and people in the mainstream media are in a strange position. they have to be pretend to be journalists while covering the democratic administration they are basically carrying water for. these are not journalists. they're democratic operatives. they have to pretend to be asking tough questions when they're really not. they're basically acting as a
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functioning pr campaign and pr arm for buttigieg and biden, and the rest of them. stuart: rob smith, i'm glad you straightened these things out for us. ideally placed to do that. rob, we'll see you again soon. thanks a lot. >> thanks, stuart. stuart: back to the market, we've come back a little bit, certainly for the dow industrials. we were down 200. now we're down 140. nasdaq is down 60. still plenty of red on the left-hand side of the screen. look at some movers, apple to start with. susan what do we have? susan: "new york times" deal book event. guess what, stu? tim cook says he owns cryptocurrency and he has been interested in crypto for quite a while. when he comes to apple they have no immediate plans to do crypto tech. i found that very interesting. coinbase is set to report after the bell speaking of cryptocurrencies. trading volume expected to have dropped over the summer. that is pretty much in line what we see at other crypto exchanges
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like robinhood and voyager. with crypto prices and bitcoin at record highes, close to 68,000, ether close to $4800 you imagine the bottom line will be padded at coinbase and the stock trading near the all-time high, by the way. palantir, making better sales in summertime and forecasting better business for the big data analytics company. they added 34 new net customers in the third quarter. that is a bullish sign. they're going outside of just government agencies as well. getting more private clients. cinemark called the best theater chain in the recovery by credit suisse. maybe it is not amc. you should look at cinemark instead according to cs. stuart: thank you, susan. hertz is set to go public. it is not the first ipo. i don't think it is. lauren, do you got that one? lauren: they filed for
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bankruptcy in 2020. four months after eedging from it they are ipoing on the nasdaq. $29 a pop. it values the company at $13.7 billion. they're waiting to open up on the nasdaq. hertz is a buzzing stock right now. first they ordered 100,000 teslas, letting some uber-drivers rent part of them. part of the whole reinvention of the company, they even have an ad with tom brady in it. the let's go ad. tom brady tweeted that out. they will get a lot of buzz. stuart: that was a let's go ad, right? i saw that. lauren: you saw that. stuart: different from let's go, brandon. i got that. thanks, lauren. a company in ohio wants to solve the supply chain crisis with robots. their robotic system is operated from a smartphone. it just takes five minutes to off-load a container. that is a big deal. jeff flock will show us how it
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works. price of gallon of gas is 3.$42. a senate panel is asking joe biden to get a handle on it. we'll have that next. ♪.
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♪. stuart: lots of questions for the white house as to what they are doing and not doing when it comes to fighting gas prices, higher gas prices. edward lawrence is with us. the administration says they have got a number of tools in the arsenal. so what is the gas price fix? reporter: we're still looking for that from the white house. they're not really had much tangible action that they have taken. we know that the white house, the administration has said they
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have asked opec plus in order to pump more or deliver more oil to meet that demand. that is largely fallen on deaf ears. the administration or the deputy press secretary talks about the ftc, going after companies for possibly price gouging, listen. >> i don't have any specific here. the president spoke to this recently, but he also asked the ftc to crack down on illegal pricing, right? that is one thing he did on gouging in the market. the ftc is responding. we'll continue to monitor the situation and have a number of tools in our arsenal? reporter: monitor, study, adds up to the average gallon of regular gas in the u.s. at $3.42 a gallon or 62% increase from a year ago. that is another issue pushing inflation. now the new york federal reserve consumer survey of expectations americans believe inflation will be 5.7% in the next year. that is a record since they have been keeping this data. now the former energy secretary
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rick perry has said that this administration has its priorities upside down. >> they don't give a tinker's damn about you, the cost of fuel, anything that gets transported out there. you have got mr. kerry traveling around the world, jetting around the world, i might add to tell people, to lecture countries don't use anymore fossil fuels but please send us more because our gas prices are really high. reporter: 11 democrats in the senate have now sent president biden a letter asking him to release oil from the strategic reserves to help immediately impact the gas prices. also pan exporting oil, so it is used here only in the united states. where again going to ask the white house today what specific, tangible actions they're going to take. back to you. stuart: all right. edward, thanks very much indeed. let's get back to the story about robots helping with the supply chain crisis. our own jeff flock, he is out
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there in ohio, looking at how this thing works, how this robotic system works. explain it to us, jeff. reporter: i've got a good one for you, stuart. looking at this right now. this is something that maybe could help the supply chain crisis. everything moves these days in these shipping containers. usually you have to off-load them with big cranes, that sort of thing. look what the thing is doing. it is called the quick load system. sean jones invented this because he wanted to move in his construction business they kind of containers. you invented this. and now everybody wants one. >> that's true. everybody does want one. a con haven't thing about this port price, i don't have to explain what it is we do because everybody knows what we do. everybody knows what a container is. everybody realizes the efficient movement of containers is the most important thing -- reporter: this picks anything up off the ground. puts it on the ground. you don't have to go to a loading dock.
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do it on a smartphone? >> it can work off any smart device, tablet or computer. carries around its own computer and way five system. will work with any device. no apps to download. reporter: you started this company. you're manufacturing here. you moved into the old building. doing the manufacturing. you can't make them fast enough. >> that's true, we can't make them fast enough. we have the same problems with the supply chain and we can't make them fast enough. reporter: do you off-load that for me? he will pull it back up. you need cranes, winches to unload these things and load them. now with this system, any truck, anywhere, can actually do it. now you're taking it off? >> yes i am taking it off. reporter: throwing you a curve. i said i wasn't do that. >> easy enough.
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pull out the cell phone. push a couple buttons, away you go. reporter: is are any union problem with this? do i have to have special training to run one of these things? >> anybody can run one in a matter of minutes. hopefully today we will have you run one. reporter: stuart, he said he will actually have me operate one. this is good in the business for live television. that could come in handy, mr. varney. stuart: jeff, i cannot imagine ununion members can't be happy about that. that does not require a unionized crain driver. we'll get back to later. reporter: okay. stuart: jeff, i have to move on. i have a story walmart here. they're building two new high-tech supply centers in texas. that will employ 1,000 people in the fort worth area. the stock is below $450 a share. president trump will tell
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the world what he is doing in 2024. after he announced after the midterms next year. what does his former white house press secretary think about this? i will ask kayleigh mcenany if trump is running. she is coming up soon. look at this, a high school quiz in california asked the students to pick out a group of complete idiots. the choices are kkk, all of florida, fox news or texas. brian kilmeade takes on that next. ♪. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web.
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stuart: let me run through some of the market activity we've seen so far today. we've been in business for about an hour 1/2 and here we go. the dow industrials are down 130. they have come back from a 200 point loss. the nasdaq is down 54. that has come back from 100 point loss. we have bitcoin and ethereum, both hitting new highs this morning. and we've got the vaccine makers in the news. "the new york times" reports that pfizer and biontech will ask federal regulators to clear their boosters for all adults tomorrow. so those two stocks are in the news. biontech down on that one.
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so is pfizer as well. the 10-year treasury, the yield there is very interesting today. it is 1.44%. that is way, way down. the price of gold, keep saying it, not doing very much despite the indicators of inflation that we had today. bitcoin, i will quote it now at 66,900. it had been above 68,000 earlier. oil is back to what? $82 a barrel. nat-gas is also in the news. nat-gas, can't read it, 4.97. that is way down. 10:51 here on the east coast that means it is time for brian kilmeade. brian, former president trump says he will announce his 2024 plans after the midterms next year. what role do you think trump should play in 2022 and 2024? >> it is fascinating. you know social media, you know donald trump's popularity has gone up since he left twitter and facebook. even though they said facebook gave him the 2016 election,
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micro target the trump group, trump fans. i'm not saying brad parscale didn't do a great job but his popularity has gone up. everything people close to him is trying to say, mr. president, a lot of followers, easy on twitter, easy on facebook. we don't need you weighing in on the all these issues. it really hurt him. he couldn't see it because he was getting a reaction. he is seeing it. if he has a position in 2022, 24. there will be no scenario where he doesn't play a major role. the question will it be for him? for 2022 you have to really pick your spots because there are purple areas where he will do more harm than good. there are red areas where he will pick the right candidate i'm not too sure i am comfortable with the president picking that. i want the best candidate winning out for the individual district. afterwards he will announce after 2022, i think the republicans will be successful at the very least in the house, although the news about sununu
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not running for the senate coming out, hurt their chances taking back the senate, he would be a lay up in the senate seat having flipped it, if the republicans are on a roll as they are right now i think he is in. if he isn't, that will be some other thing. something personally, professional comes out in the private world that would stop him. all indications are he is running. if he does run, the only person that would get in governor hogan or governor chris christie. the rest i don't see. spent yesterday with tim scott. no way he would get in in my opinion from what he said. you will see it tomorrow, if he is in. pompeo, mike pence doesn't make any sense for any of these guys. nikki haley, they will not get in if trump gets in. stuart: i'm reading between the lines, brian, i think you would say tone it down. >> i said it yesterday. stuart: tone your approach with the vigorous insults. >> stuart, you're not the same host you were at that other network. don't you feel like you get
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better on daily basis, you get feedback, if you don't grow you lose your job? if the president comes back he has to tone it down. even if he is 100% right it is not good for the country. the country is on 10 plus for four years. his big fans and big opponents. i don't think it is good for anybody. i think there is a way to governor earn we don't have to go over the top every single day on every single issue. if he will come back to be grover cleveland part two, he has to come back with a toned down approach. he doesn't have anything to do. he knows he can do the job. see if he can do it in a way that brings in others, independents, suburban women as well as some democrats. stuart: got it. i'm sure you saw this, brian. california high school asked students a multichoice question. it asked for them to pick out a group of complete idiots. the choices were, the kkk, all of florida, fox news, or texans. what is happening to our
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schools, brian? >> well, i'm very heartened, instead of writing brian kilmeade they wrote fox news. we're all under the umbrella. i'm pretty sure i should have been on there. it is unbelievable. it is callous. it is ridiculous. it is cavalier. this was in your face n is online. screen capture. it has gone viral. a national story, the school, whitney high school is going to investigate. what are you investigating? this guy, this is the second time at least he has done something like this. and he is defiant doing it. he is using kids to say okay, can you imagine any other questions are out there, can you this is grade, what is your opinion how to handle x-y situation, if that kid writes a conservative point of view, can you imagine what the kid has gotten? is this the only situation? what are you investigating, this should be instant in or out. suspension, if you had a warning you should be gone. that is coveted position in very
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nice area in california. believe me. pays well. a lot of people want that job. i don't think he deserves it but sadly, he is erring on the right side and that is the left. brian we are on agreement on all issues today. thanks, brian. see you soon. good stuff. still ahead, sandra smith, florida congressman byron donalds, kate at this katie mcdonald, and jocko willink. they are negotiating in glascow. the big sticking point, money. if president biden commits to spending trillions of dollars overseas he will have a political mess on his hands. that is in "my take" coming up.
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free decision guide. humana, a more human way to healthcare. >> i'm pretty worried about inflatn because what was supposed to be temporary has lasted a whole lot longer. you could have continuing in-- you couldn't have continuing inflation unless the federal reserve was pouring in excess i money. >> people have to heat their homes this summer, their gas tanks cost more to fill up, he's shutting american energy down. he's not paying attention to where real people are at, and next november this is going to be catastrophic for democrats trying to win elections in '22.
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>> when you lose of your energy pricing, you lose control of your prices, period. that is why we've seen inflation really take off second half. >> september really, i think, scared people with your typical correction. we didn't see the correction everybody else thought we were going to see. ♪ ♪ gotta love this american ride. ♪ stuart: 11:00 eastern time. it is tuesday, november the 9th. by the way, this is the day the berlin wall came down, november 9th, 1989. i remember it well. check oaz markets -- those markets, please. the dow is down about 150 points, and the nasdaq is down about 50 odd points, 66. so the losses moderating a little, but there's still plenty of red. the cryptos, that's another story. bitcoin b and ethereum both hit
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record highs earlier this morning, bitcoin's actually back to 66,000, but ethereum holding strong at nearly 4,800. and then there's the 10-year treasury yield, really interesting stuff here. the yield is all the way down to 1.44. it had been 1.42 earlier. that's the lowest since september of this year. now this. the great climate conference ends on friday, so now they are furiously negotiating the final deal, and guess what is the big sticking point? yeah, money. to put it simply, poor countries want a lot of money from rich countries. it could be more than a trillion dollars each and every year. poor countries argue that they did not create the climate crisis, but they do suffer from it. they want big bucks to shift away from fossil fuels, and they want really big bucks to compensate for the loss and damage they suffer from extreme weather. now, i'm not making a judgment on whether the poor countries
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have a good case or not. i just want to know how much the biden administration will give. speaker pelosi, she's in glasgow now, and so is aoc. she helped write the green new deal. aoc will demand america put its hundred where its mouth is. and coming on top of vast tax and spend programs here at home, there will surely be intense opposition to paying out vast sums overseas. by the way, some of that money will go to china. the president is again boxed in. he wants to be a green president, but he finds himself begging for more oil production to cope with energy price inflation. a week ago democrats received a drubbing. voters were turned off by the high cost of gasoline and groceries and race-based education. climate change was not an issue last week. if president biden now commits to shelling out literally trillions of dollars in glasgow, he will be in another self-created political mess.
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third hour of "varney & co." if starts right now. ♪♪ stuart: sandra smith joins me right now. all right, sandra. the united states, i don't think, can i afford these climate deals, certainly not in the trillions of dollars flowing overseas, but the greens will say we've got to pay up. where are you on this? >> i've got to tell you, when you were reading through your "my take" there that you eloquently delivered and wrote this morning, i thought of bjorn lomborg, and he has some amazing thoughts on the subjects very similar to what you just shared, that is focus needs to be on innovation. he's not a climate change denier, he acknowledges it, and innovation is the answer, he says. but while you were saying all that, i pulled up some of his latest thoughts saying that this is real.
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global warming is real. but it's not the end of the the world. this is a manageable problem. he really calls out the alarmists on this saying the singular obsession with climate change means we are now going from wasting billions of dollars on ineffective policies to wasting trillions. he says cooler heads have to prevail, we need to dial back the panic, innovate the price of green energy down that of fossil fuels, and everyone will switch. it's a very easy concept, right, stuart? the question is, what's going on here with this administration's policies? because there are big questions out there -- [laughter] whether or not this is some sort of de facto legislation. when you have oils that are directly -- policies that are directly driving the price of oil, gasoline, home heating oil, driving all those rules higher, right? in essence, that's going to make the the very expensive green energy look cheaper all of a sudden. it's just a point to be head this all this. we really should be working
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differently. we should have an angle with innovation and make it more attractive. stuart: next case, the democrats are scrambling to get their spending bill passed, but biden's approval continues to sink. i don't think people like all this chaos in washington, and i think that is really hurting the president's polling. what say you? >> you don't have to think, it's happening. look at the polling. and as i was talking to lauren simonetti next to me here on ont in new york, as you went through that, stuart the, what is there to be happy about right now when it comes to economic policies in this country? i looked down this morning because i get a daily update on heating oil prices this winter will now cost the average americans 43% more. natural gas, 30% more. propane, 50. electricity, 6%. your thanksgiving dinner's going to be more expensive, it's going to cost more to fill up your gas tank the, you don't know if the pilot's going to show up on
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time. and it's a mess. and whether or not your christmas presents are going to get delivered when you need 'em. i mean, there's a lot of issues right now that this country is facing, and there's a lot of uncertainty over what the economic policies are of this administration. when you have jen granholm, and that happened during my hours on friday, stuart, i saw that interview happen where she was asked a very direct question about what we are going to do to boost oil production in this country, and she threw her head back in laughter. that is a very real problem that's immediately affecting american families and businesses. and i don't really know that they are clearly spelling out how they are going to solve this energy crisis that is affecting everyone. stuart: i don't think they know what to do. sandra, thanks very much for joining us. we'll be watching this afternoon, "america reports," 1-3 p.m. eastern on fox news. thank you, sandra. see you again soon. check those markets and bring in mike murphy. all right, we're coming towards the end of the year, mike. give us some investment advice
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and for our viewers too. in the last few weeks of 2021, should we buy, sell or hold? >> good morning, stuart, it's great to be here. i think these last few weeks of the year, it's been a great year, stuart, the game plan doesn't change. if people have income that they need to put to work, they should buy the market and not wait for a pullback. however, one thing that people can look at is tax harvesting. people can look if they're not in a qualified account, if they have any losses out there, they can sell them now to offset any gains they have on the books, and then in 30 days from now they can get back into that position if they believe in it. so this is something that can really help people from a tax standpoint if they have any losses right now to realize. so the bigger picture though is there's so much innovation going on, stuart, if you stick with the market, we're till going to see 40,000 by the end of the year. don't try to pick tops, just keep investing on a regular
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basis. it's the true winning game plan -- stuart: did you just say that we're going to hit, did you say 40,000 on the dow by the end of this year? we're now at 36,000. are you really looking for that kind of gain towards the end of the year? that's straight up. >> stuart, we've spoke about this about 8 or 10 months ago, you and i, and i still see it happening. i think there's so much negativity in the market right now that when that steps away and when more of the cash that's on the sidelines comes into the market, we're going to have a year-end melt-up. but remember one thing, the 40,000 number is great for the confetti, but for if investors watching at home, stu, whether we end at 39,5 or 40,000, bottom line is people shouldn't be sitting on cash waiting for this pullback that may or may not come. and when it does come, a lot of times people aren't ready to pull the trigger. stay long, stay invested, there's a lot more upside here. stuart: all right, mike, you
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keep saying it every week, and you're right. interesting stuff. thank you, murphy. we'll be checking on 40,000, believe me. and you're on videotape too. thanks, mike. let's stay on the market with movers. lauren, moderna down 2.5%. >> france suspended their vaccine last month. they said they were concerned about inflammation of the heart, now health officials there are recommending it again but only for those over the age of 30. look at tesla. you know, you could make the argument that investors might be listen dog what elon musk says and what he would do, selling shares, because the stock is down just about 7%. i was looking at a wall "wall st journal" piece this morning, and usually when executives announce they're selling after a sharp run 'em, it's obvious they think the share price is too high. and there's also a report because of big demand, which is a good thing, tesla might build a second factory in china, and
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building another factory is expensive. i'm going to say this one's my favorite one, stuart. dr horton, the stock's up just about 4%. their orders for homes in the quarter were down. so how is this a positive report? because demand's not the issue, it's supply. dr horton has been intentionally pushing back orders because they know they can't deliver them on time because they can't get all the materials. so that's basically, you know, a company telling your consumers we hear you, we can do it, we just can't do it right now. stuart: okay, good one. the cryptos look to be rallying. >> look at that, bit and ether particularly. it's worries about inflation and enthusiasm about crypto the adoption. then apple's tim cook says he personally owns cryptocurrencies signaling maybe in the distant future apple might have a crypto product. and then you look at j, hover began, they have over a hundred
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positions open for a blockchain-related job. so they are hiring for cryptos. stuart: they are, indeed. and they're hitting record highs. good stuff, lauren, thank you. former president trump says he'll be -- during the midterms next year, he says he'll announce his 2024 plans after those elections next year. coming up, we're talking to his former press secretary about him running or not. the governor of florida, ron desantis, going after private companies working with the administration to fly my grants scently into florida. listen to this. >> what we're looking at is how can we fight back against the contractors. we can obviously deny them state contracts, which we will do. can we deny them access to florida's market generally, can we tax them. stuart: governor desantis also unveiled the keep florida free legislation all about fighting vaccine mandates. we're talking all things florida
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with congressman byron donalds. the third hour of "varney" continues. ♪ all we have to do now, is to take these eyes and make them do somehow ♪♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. ♪ ♪ there are beautiful ideas that remain in the dark.
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moving is a handful. ask your doctor about once-daily trelegy, no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving.
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♪ welcome to the jungle -- stuart: all right. live shot there, that's washington d.c. sunny and 65 degrees. we'll take that. the white house hoping for a vote on president biden's massive spending bill as soon as next week. that surprises me. i thought it would take much longer because they have to get the true cost from the cbo before they can take that vote. but nonetheless, the democrats
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are still scrambling to get reconciliation passed. hillary vaughn joins us from capitol hill. hillary, will the president's dip in the approval pollings, will that affect the vote? >> reporter: but quickly on what you just said, you're right, the cbo actually came out this morning and said they're not going to -- or they're not ready to even say when the price tag the for that social spending package will be ready which means it's probably not going to be ready by monday which is when speaker pelosi wanted to hold that up for a vote. but while the white house is essentially turning a blind eye to a lot of polls that have come out this just the last week that signal that the country may be moving in the wrong direction, moderate democrats who are the key deciding factor this whether or not this social spending package actually makes it to the president's desk will be paying attention because many of them are up for re-election in the
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midterms. when you look at the "usa today" poll that came out yesterday, nearly two-thirds of americans, 64%, say they don't want president biden to run for a second term this 2024. that includes 28% of democrats who feel that way. another poll from cnn says the majority of americans think the president isn't paying attention to the nation's most important issues. 358 of voters -- 58% of voters feel that way. while the white house may not be tuning into these polls, it certainly is going to have an impact on moderates here in congress. stuart? stuart: if they plow ahead with a vote next week before the cbo tells 'em how much this thing is going to cost, i can't see how moderates could ole vote for it, and i don't see how it could possibly go through the house or the senate. the cost is a sticking point. >> reporter: yeah. that's why it didn't get a vote last week. [laughter] stuart: exactly. hillary, thank you very much, indeed. next case, florida's governor desantis taking on companies
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who are helping illegal immigrants get to florida. watch this. >> i think that they use these private contractors. so what we're looking at is how can we fight back against the contractors. we can obviously deny them state contracts, which we will do. can we deny them access to florida's market generally, can we tax them. so we're going to do whatever we can to do it. we are going to go after some of these contractors, because they are wringing in people that are causing burdens on us -- bringing in people. stuart: congressman byron donalds, republican from the great state of florida, joins me now. is this all you can do? i mean, here you've got the federal government flying in illegals to your state secretly, not telling you about it. you've got to pay the cost of this. is this the only way to stop 'em, you go after the private companies bringing them in? >> stuart, unfortunately, governor desantis might be right in this approach because it goes back to the supreme court precedent a few if years ago that gave the president of
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the united states plenary power when it comes to immigration. the president can largely do what he wants. and what he has done has been an abject tragedy and disaster for our nation. the fact that they're flying people in the dead of night to states like my state of florida and other states in the country is an absolute joke and a disgrace. but that's what he's doing. and so florida has to do everything it can do, everything possible to protect our citizenry and to protect our state from this profligate and reckless disregard of immigration law by joe biden. stuart: speaking about protecting floridians, governor desantis unveiled his keep florida free legislation that aims at covid mandates throughout the state. congressman, will this ban all mandates both for federal workers, government workers, private sector workers? will it ban all mandates period? >> what it's going to do is take care of the vast majority of
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floridians, and the governor again is right to do it. a special kudos to my former colleagues in the florida legislature for stepping up to the plate. when it comes to federal employees, unfortunately, they're going to fall under the mandate that joe biden wants to put in. in florida cases are at the lowest they've ever been. we even figured out how to run an economy, get people back to work, keep our kids in school and manage the an demick. that's what we should be doing. we should be giving people information about treatments and all the things necessary to beat covid-19, not locking them down with mandates. so our governor, america's governor, is doing everything he needs to do to protect floridians. unfortunately for a lot of people in other states, namely california, they want to follow down this mindset of joe biden. frankly, he doesn't even know what he's doing anyway. [laughter] stuart: we hear you. congressman byron donalds, thanks so much for being here today. we do hope to see you again really soon. thank you, sir. >> anytime. stuart: next case, that's my way
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of going from one story to another. state farm released a statement regarding their partnership with aaron rodgers. ashley, good morning to you. are they standing by aaron rodgers? >> reporter: well, yes. look, it was a question of people wondering about, rodgers has already lost one endorsement deal with a wisconsin-based health care company, but state farm said in part, quote: aaron rodgers has been a great ambassador for our company for much of the past decade. we don't support some of the statements we have made, but we respect his right to have his own personal point of view. we encourage vaccinations but respect everyone's right to make a choice based on their personal circumstances. now that said, state farm advertisements featuring rodgers were shown notably far less often over the past weekend than in the prior two weekends. coincidence? maybe not. by the way, rodgers told reporters back in august that he
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was immunized, but after contracting the virus he admitted that he believes the vaccines have not been properly tested, and he has been relying on homeopathic treatments. rodgers says he's also, by the way, allergic to some of the ingredients in the pfizer and moderna vaccine and chose not to get the johnson & johnson vaccine because of its side effects. state farm, bottom line, is sticking with aaron rodgers, stu. stuart: got it. new york gambling regulators have approved nine new mobile betting, sports betting licenses in new york state. which companies got the licenses? >> reporter: well, a lot of them, fanduel, draftkings and also bet mgm who have all been granted 10-year licenses. according to the conditions, the the company's sports betting revenue will be taxed at a whopping 51%, one of the highest among states where sports wagering is legal. good old new york. but new york's huge population
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could well become a billion dollar sports wagering market generating about 482 million this annual tax revenue -- in annual tax revenue. new yorkers have been limited to making wagers in person at casinos, but now they'll be able to make bets on their mobile phones. among the companies rejected for a new york license, dave portnoy, barstool sports. they have licenses in ten date states but not new york so far. stuart: i wonder why not? there's a story for you. i wonder why. all right, ash, thanks a lot. let's get a sense of the market with this market scan. that's where we show you all 30 of the dow stocks. predominantly selling today. lots of red on the the length side of the screen, and the dow is now down 210 points. that's better than a half percent on the downside. coming up, talking to kayleigh mcenany, i want to know how she thinks it'll play out.
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♪ summertime -- stuart: ah. actually, what you're looking at is santa ca, california, around 59 degrees. doesn't look exactly bright and sunny the, does it? let's get back to the markets, susan's back. and you're starting with the movers, roblox, what's the story? >> according to it's early there, which i agree. roblox doubling revenue in the quarter, daily active users went up by 30% from last year, over 47.3 if million daily active users each and every day. by the way, half of those under the age of 16. and also more importantly, that three-day outage this october not going to affect numbers that much. and i think this is more of a
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short squeeze because people were kind of negative on the stock. paypal accelerating declines, going the opposite direction, after forecasting weaker sales for the rest of this year and next year and a new amazon partnership with venn no which -- venmo not good enough to ignite the buyers. take a look at high-tech today, rallying. the 10-year treasury yield coming could be to 143 and that's an interesting environment that doesn't make stocks look that risky when you're getting less on a 0-year treasury -- 10-year treasury bond. amc losing less money but still costs are going up at amc theaters, and that's never a good sign when your costs are going up faster than your sales. look at gamestop today, a really the whole meme crowd, and remember ryan cohen during the height of the gamestop saga in january and february?
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tweeting out yesterday saying should i hold or hold on for dear life? you got that, right? stuart: i just got a note from my grandchildren, they're big into robe blocks, and they're disappointed to see the stock go down. sorry, sorry, to problocks. thanks, susan. president trump says he'll be very involved for good people during the hid item elections. kayleigh mcenany joins me now. glenn youngkin won. should trump be so involved in the hid terms? >> of course -- midterms? >> of course he should be. glenn youngkin was this a blue state, he ran a very smart campaign. he said, hey, the trump's the nominee in 2024, i'll endorse him. president trump has an 86% approval rating in the republican party according to quinn by ya -- quinnipiac. the people have said with pretty
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much resounding unithemty over the last five years that they support president trump. stuart: president trump says he will announce his lands for the 2024 -- plans for the 2024 election after the upcoming midterms. i'm hearing an awful lot of people who say he's going to run, but if he does, he should tone it down, take a different and less harsh approach. what do you say to that? >> i think the president should be who he always has been, and that is an authentic candidate. he changed politics forever, and he set the precedent that i'm just going to be who i am. what i say to you, the american people, is what i'm going to say in the oval office behind closed doors. i think there's been a kind of understanding now that joe biden has come around. the american people want a president who delivers results, low gas prices, a. booming economy, and the list are dose on. i think results matter more than ever in a presidency that is lacking this deliverables, lacking in results such as the biden presidency.
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but we'll see what president trump decides. we have a lot of great people in our party, ron desantis being another one. stuart: but it was great policies. i'm a huge support of president trump's oils, but i -- policies, but i honestly believe he comes back, gets into the next big election and starts using the same set of language, an extremely harsh, attacking approach, i don't think he could win like that. >> i think president trump should just be who he is. and i think the american people want deliverables and results. we'll see what he decides. it's hi hope that there's not a long, drawn-out primary, that the he does choose to run, that it's a situation where there's not this-fighting among the republican party that's not helpful, but we've got to get to the midterms first. stuart yes, we do. kayleigh mcenany, thanks for being here. see you again soon. >> thanks, stuart. stuart: next, some corporations are revisiting donations to gop candidates. yeah, i said that.
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this follows the results of the virginia and new jersey elections. ashley, got any details on this? >> well, i do, it's interesting. corporations that voted to withhold political donations to the gop following the january 6th riot at the capitol are reportedly, well, they're changing their minds according to a number of publications including politico and rolling stone. as you can see the headlines on those publications. they're following, it's following republicans' strong showing in both virginia and the new jersey elections and elsewhere. corporations apparently reconsidering where their money should go. republican lobbyists now saying the companies are wanting more access to gop officials on the hill, and they're also expecting cash will start flowing in from those corporate pacs. as one lobbyist put it, it's much more bullish for republicans than perhaps six months ago. corporations rah realize they heavy to deal with the gop and will be holding positions of power.
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so the money is coming back to the gop. stuart: i'm sorry, i'm just looking at my phone here, ashley. a moment ago i said my grandchildren had sent me a message saying, hey, thanks for the shout-out about problocks, but apparently -- roblox. i said it went down, but it's gone up. i've just been corrected by my grandchildren. not for the first time -- >> i think you should leave that story alone, stu. stuart: i shall. well said, ash, well said. thank you, sir. now look at this, miles-long lines of pr. the u.s. is open for international travelers for the first time this 20 months. a federal judge upheld united airlines' vaccine mandate for employees. what does this mean for the holidays? we're asking the man who created priceline.com. he's on after this. ♪ should i stay or should i go
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nowsome. ♪ if i go there will be trouble, and if i stay it will be double ♪♪
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he can♪ ♪ stuart: when i saw that, i was tempted to think it must be florida or even mexico, but it's not. that is orange beach, but it's this alabama. isn't that absolutely beautiful? and a great day too, 70 degrees down there. i want to bring in priceline.com founder jeff hoffman. good to see you again. look, we finally have the return of international travelers. they're coming back into our country, started yesterday. are we about to see a real boom in international travel coming here? >> we are, stu. the flights are already, like, 98% full on so many of these inbound planes, and it's good
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news for everybody in travel. good news for the airlines, for the hotels, for everybody that makes money off tourists coming into town. it's great to see this positive news. and europe especially can't wait to come to the u.s. it's been too long for a lot of people to reconnect with family. stuart: a federal judge upheld united airlines' vaccine mandate for employees. jeff, the airline industry is really struggling. how will this mandate affect travel as we get to the holidays? >> well, it is going to be an issue because there are a lot of employees that won't get vaccinated. they're not being forced to get vaccinated, they're being forced to choose unpaid leave as their option if they don't get vaccinated. and we already have staffing issues. so with this increase of international inbound travelers are, we already have an issue staffing planes, staffing pilots, even aircraft deliveries behind due to covid, so it's
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going to make more delays, more difficult. again, although it's god news that more people --ed good news that more people are coming, we need to be prepared for hissed and canceled flights as staff just can't keep up especially with the thousands who are not vaccinated and now can't come to work. stuart: it's really a time of high anxiety for travel, for airline travel at the moment, isn't it? i mean, you get to the airport, you've got to get there really early, there's long lines at it's, you don't know whether the flight's going the take off or be canceled. that's high anxiety, and people don't like that, do they? >> no. and, in fact, even if you have your vaccine card in the u.s. which, by the way, the rest of the world doesn't take, you need to get this some destinations you still need to get a test. and the tests are not only expensive, which is difficult, but typically the test takes 72 hours, and it's only valid for the 72 hours. so everybody's stressed out waiting for their negative test
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hoping it makes it before it becomes invalid. there's a lot of stress to having to get a test everywhere, leapt alone wondering if your flight is going to be staffed and on time. stuart: well, i live in the new york area, and i'm thinking of driving to florida for christmas, but that's just my own particular anxiety level about flying. jeff hoffman, thanks for being here, sir. we appreciate your information, and we'll see you again soon. >> thank you. stuart: two house republicans demand the administration provide a contingency plan. they want this ahead of the vaccine mandate deadline for air traffic controllers. ashley, come back in again. i would want a plan b, wouldn't you? >> i certainly would, although i might be with you driving somewhere. congressman sam graves of missouri and garrett graves of louisiana -- no relation -- say without a contingency plan in place, the holiday travel season could be thrown into chaos. a mandate requires federal employees to be fully vaccinated
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and proof of it by november 22nd, and all they could say if only a small number of air traffic controllers fail to comply and not are fired or quit, the whole travel system could be stretched to breaking point. now, same for tsa screeners, by the way, where an estimated 40% are still not fully vaccinated. what happens come november 22nd? in a letter to the if faa, the congressmen asked for assurances that a contingency plan is in place saying, quote, we urge you to do everything in your power to ensure travelers will not suffer through missed flights or canceled trips due to a shortage of fully advantage she nateed faa air traffic controllers. and by the way, the faa did not immediately respond to a request for comment, but it doesn't take a whole lot of lack of employees to set the whole thing spiraling out of control, stu. stuart: broadway in new york city extending the mask and
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vaccine requirements. so does everybody need to get a grab and a mask to get in, everybody? >> yes. yes. look, let's get to this. guests ages 12 and older will still need to show proof of full vaccination with the last dose at least 14 days' prior, and they must provide a photo id or school id for minors. attendees under 12 will need to show proof of at least one dose of an approved vaccine administered at least 14 days prior to the performance or a negative covid test within 72 hours. now, these policies are in effect at all 41 broadway theaters through at least february 28th of 2022. also theater-goers will need to wear masks through at least february of next year. since broadway reopened, overall capacity anywhere there 77-85 of full which isn't bad. but these rules, whew, my, oh, my, you're going to have to jump through some hoops.
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stuart: it was 100% capacity back in 2019, so that's, these mask and vaccine mandates have taken a lot of people out of the audience on broadway. that's going to cost 'em. ash, thanks very much, indeed. let me tell you about this, jacques coe will ink, he spent two decades as participant of the navy seal teams, and what do you think he's doing now? he's writing thrillers, fictional thrillers, no less. jacques coe is next. -- jocko is next. ♪ ♪ (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to
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♪ ♪ ♪ ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving.
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♪ stuart: unijocko willink as a decorated, retired navy seal, actually part of team 3. he's the author of countless books on his experiences ask and his leadership overseas. well, now he's taking on 2006al writing. he's -- fictional writing. he's got a new book out, and
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it's called final spin. there's the title, and jocko is with he now. [laughter] big smile. how come you turned to fiction? >> well, you know, stuart, i like telling stories, and sometimes it's easy to convey a message through a story instead of just saying the message. and i had some great characters in my head, and i came up with a crazy plot line, and here you go. it's a fiction novel. stuart: okay. tell he what the plot if line is, and tell me what hedge you're trying to get -- message you're trying to get out there. >> so you've got two brothers. the older brother who's about 30 years old has a mental handicap, he's a little bit slow, but he absolutely loves laundry. yes, i said that, stuart. he loves cleaning laundry, and he works in a laundromat. his younger brother is street smart, handsome, charismatic, and he finds out that the laundromat is going to be sold. he diseases he's going to buy -- decides he's going to buy with
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it so his brother can keep his job and continue to be happy. he comes up with a plan with his best friend to steal money to buy the laundromat. things don't always go as planned, and this ends up in a final spin. stuart: so you're not going to tell me what's on the last page, i'm sure, because that would give things away, wouldn't it? how does the young man steal money? does he rob a bank or fraudulent activity the on wall street or something? >> he actually plans a heist to steal money from the store where he works as a stock boy. not a great plan, actually. stuart: so is this a condemnation of criminality with the support of one's relatives? >> i guess you could say if you wanted to go super literal, you could go in that direction. but there's, obviously, some big lessons in this book: when i was recording the audio book, the the audio engineer was laughing sometimes and cheering sometimes and i crying sometimes. so it's an emotional roller
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coaster, but some definite lessons about how to treat oh people, about the pathway to happiness, about the meaning of sacrifice and really just to help people understand human nature at a deeper level. stuart: i have to tell you, jocko, that you and i have interviewed several times in recent years, and when i think of what a seal guy should look like and feel like, i think of jocko willink, because you've got the face of a determined warrior. can i put it like that? so maybe you should think about branching out and getting into movies. how about that? >> i'm not sure i have a face that's too friendly to the movie screen, but i appreciate -- i'll take that as a compliment that i look like a seal since i was one for so long. but now you're also seeing the face of a fiction writer. here we go. stuart good luck, jocko. good luck. "final spin" is the name of the book, and we wish you the very best. great to see you. see you soon. >> thanks for having me, stuart.
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appreciate it. stuart: all right. check those markets. we've got a lot of red ink. dow's down 200, nasdaq down about 80. these dow stock winners, okay? we've got cisco, dow inc. and honeywell on that list. s&p winners, what's leading that one? general electric. that's the stock of the day maybe. they're splitting into three companies. it ain't your grandfather's stock any longer. and the nasdaq winners headed by, let's have a look, please, amazon. big gain. 2th 5% up -- 2.5% up for amazon, micron tech up. now, guess what? it is time for tuesday's trivia question. i know you waiting for this. i haven't got a clue for the answer. texas congressman sam rayburn was the the longest serving speaker of the the house. how long did he serve? yes, the answer after this. ♪
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be a big, big number. there it is. got it right, ash. 17 years, two months, two days. sam rayburn. he has a huge office building named after him in d.c. >> yes. stuart: it is the rayburn building. it is gigantic. speaker for all those years. ash, thanks very much. we'll see you tomorrow. my time is up. neil, it is now yours. neil: stuart, thank you very much. for that. we're following the price of oil. energy related as you've been indicating the last few hours. that is the bogeyman. the fact of the matter, oil prices go up, gas prices go up, anything having to do with that goes up. the inflation worry persists. a number of senate dts

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