tv Varney Company FOX Business November 23, 2021 9:00am-12:00pm EST
falconer and epic systems, we do it at thanks giving, play glad, g is what are you grateful for, l, what did you learn, a is what did you achieve and d, was deleted you, the younger kids love it. that is what we are going to do. quiet on thanksgiving. maria: it was great to see you both. steve forbes, come back soon, "varney and company" begins right now. stuart: a healthy dose of politics around my thanksgiving table, we will be pounding the table because we all agree. good morning, everyone. the lockdowns are spreading in europe but they are not coming here. the white house has announced, quote, we can curb the spread
of the virus without having to shut down our economy. the administration has no plan for nationwide lockdown though states have the power to order one locally. some understanding of the damage lockdowns due to the economy. 50 million barrels of oil will be drawn down from the strategic petroleum reserve, two weeks to start getting it out and months to take out all 50 million barrels was oil moving up this morning to $77 a barrel. here comes thanksgiving travel rush, trial run for christmas. the airlines will breeze a sigh of relief. how many will cancel their december travel plans unwilling to face airport chaos. are there enough pilots, tsa agents, baggage handlers, we will soon find out. let's get to the markets. not much price movement, the dow is up 20, nasdaq down 30. this is a problem for stocks, big tech, 10 year treasury yield goes to one.65%. big tech won't like that.
it bitcoin is at 56,000. espelyespee olar 's cat'swewe aooki l at pu aicb in amein ame todme. sh ting i tica in iadass mass cho, pago,lic dio,lirdo, er rreldarrccus af lling llinve i isc de a lt kdowkd pkdubcrcr di ct rof dt emt raemt t poci late you will see a sheeted tlaib pushing to empty all the jails within 10 years. one more. new york is moving to allow 800,000 citizens to vote in
local election. now you know why we have an open border. the left is bringing in future democrat voters. "varney and company" is about to begin. ♪♪ stuart: glad and catch me on the camera. jump, i can get into that. at the top of the show, the white house says there will be no lockdowns to fight the virus unlike the draconian lack loans and mandates in europe. mercedes schlapp is with us on tuesday morning. is the president trying to get on the right side of history in
the fight against covid, finally realizing the economic damage lockdowns? >> i think we are seeing some thing positive coming out of the white house where they are saying there will be no lockdowns in the united states. secretary pete buttigieg saying they would not put vaccine mandates on domestic flights. this is good news for americans because not only do we see the economic repercussions of these lockdowns including the supply-chain crisis where manufacturing has been hit hard in the united states and globally but you also see the mental health component, increased suicide, access mortality, mental health issues, impact across the board from the youngest to the oldest american so it is important to avoid these lockdowns that have been detrimental not only to
the united states economy but to our psychological health. stuart: how about this one, i don't think you will be as happy about this item. new york city sent to pass legislation that would allow 800,000 noncitizens to vote in local elections. is this why we have an open border? >> that is simply wrong for new york city to do that in terms of allowing noncitizens to vote. we see this administration ignore the issue at the border allowing the open border policy putting strain on border patrol agents and the american people do not speak up and we know where we are from appalling standpoint and say we need to stop this chaos at the border, i think the biden administration will continue to ignore the issue. it has worked for them for quite some time.
stuart: they are importing democrat voters and their 800,000 in new york city who will be voting in the next local elections and that will swing and election very easily with numbers of that size. >> the lawsuits coming out of this, from the legal lens as well. allow noncitizens to vote, that is a bad precedent. stuart: thanks for being with us. president biden has chosen jerome powell, elizabeth warren said she would be voting against his renomination. good morning. what does she have against powell. >> i will support the president's nomination of lyle brainard as vice chair. powell, climate, ethics paik the still vacant position of
vice chair of supervision critically important. wall street journal editorial board had a take on this, powell and brainard are bad choices and republicans shouldn't endorse either of them. they cite inflation. powell said it is transitory, inflation is persistently transitory and there is a politicization of the fed because of this with brainard satisfying progressives and pushing powell to worry about things like climate change. stuart: i to talk about the release of 50 million barrels from the strategic petroleum reserve. was a fat? >> the move is expected, the amount is surprising, 50 million barrels of oil will be released in an attempt to boost the president's low approval rating to show he's doing something about this. also a positive, in coordination with china, india, japan, south korea and the uk. does that send a signal to opec you need to pump more or
conversely do they do the opposite? lawmakers wrote a letter to the president and the said don't tap the emergency reserve, they say that equals a 20% increase in our own production, and it trickles down to lower prices that the -- we will not see the exodus. >> look at oil this morning. it was 75. to get futures, where will they open the market today? a mixed picture, up 50, the nasdaq down 30. not much price movement. brian belsky is with us. let's look to the future exactly one year from today, where will the markets be?
>> a year from today markets closer to 5300. we remain bullish and if you look at the rest of our competitors in terms of economies, soccer, they are negative for next year, we like that. if you take two steps back, high single digits, interest rates will still be low, valuation should be coming down and inflation is speaking. the less positive but still positive nonetheless. the market is not on and off and too many try to play a green, red, the color is still green and we are higher a year from today. stuart: did you say 5300 on the
s&p which is 4600, that is a jump from this time last year. >> once we get through this malaise, technology was ripping and this week we've got one bad day and the world is coming to a end. what -- the activity from new york city. we want to be alive in our country, where out spending money and good at it in the united states but the bigger theme the next few years is on shoring and reassuring and that will drive profits. stuart: we are good at spending money in america. that is true. spend like there is no tomorrow. we will see you again soon. elon musk and jamie diamond
have been clashing behind the scenes. >> the wall street journal reports jason morgan suing tesla, because it is $162 million, a major bank attack and sues a major client it that's what you have now. from diamond and musk it exacerbated when tesla gives chase to tesla dealers it delicious so they are mad. why do you care? the way elon musk is responding, if they don't withdraw the lawsuits i give a one star review on yelp. this is my final warning. he doesn't care. and that is how he governs his company. stuart: always making headlines. he is good for the news business.
50 up for the dow, 40 down for the nasdaq. remember the california -- declaring itself a sanctuary city not from immigration but from federal covid restrictions. we have a mayor of that city on the show today. squad member rashida tlaib says she's fearful that senators manchin and cinema cut build back better, role tape. >> i'm fearful of that, those groups guide this agenda. >> manchin and kristen sinema. stuart: a civil war in the democrat party, looks like chaos right before christmas, you cannot believe what else rashida tlaib is saying. ♪♪ ride the wave?
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stuart: a whitney houston, one of the great voices of all time. futures mixed picture dow up 50, nasdaq down 34. senator joe manchin was asked what he thought of the real cost of the spending bill. what did he say? >> he said i know it is expensive. here he goes. >> an estimate that said the cost is twice -- >> we've known that for quite some time. >> what your position on that?
>> reporter: he talked about parts of the bill i paid family leave. senator majority leader schumer says they will negotiating schumer is optimistic it gets done by christmas but then it goes to the house. stuart: chaos in the house i am sure. rashida tlaib voicing her own concerns how the moderate senate democrats got build back better. >> i'm fearful of that. the groups guide this agenda. people will continue to profit off of human suffering. >> is that manchin and kristen sinema? >> others have issues with the prescription drug negotiation. stuart: byron donald, republican florida. she wants to focus on the drug prices. >> i oppose it because it will
lead to less innovation with respect to pharmaceutical drugs because the government literally going to undercut pharmaceutical companies. people don't want to hear this, they talk about big pharma. the reason some prescription drugs are so expensive is all the research and development, she wants to bladder rate that. not to mention a giveaways. tax credit for local newspapers. it is insane. stuart: profiting from human suffering. what kind of approach is that to the pharma companies? intensely pejorative about making a profit on anything. that is where she is coming from. >> the reality is rashida tlaib and the left don't have sound physical or economic argument. what they must resort to is lines where you are against
black people, or working families. forget the negotiations. stuart: it is going to the senate and i'm guessing it will be chopped up pretty badly when it gets to the senate, then it comes back to the house which i don't think it will be recognizable to house democrats. looks to be like absolute political chaos right before christmas. what say you? >> in the senate, they are going to craft something. they need to be left out of this bill, the amnesty provisions, in blue states, the green new deal, so many ways to the radical of the progressive left it doesn't matter for the future of the country. they need to do the right thing in the senate and not same the
same bill back to the house. stuart: when it does go to the house and they tried to organize a get together on the two versions suppose they can't get together. it just dies? >> it is possible but in washington the one thing i will tell you is it is never over until they are supposed to pass it. we will see of what happened. a lot of this will focus on what the senate decides to do with these provisions like child tax credit, earned income credit, see what happens with those, cannot pass at all, never want to give nancy pelosi the opportunity to negotiate anything. in some bizarre world which is washington dc she find a way to get these things negotiated. stuart: thanks very much, have a great thanksgiving.
staying on the spending bill, stephen ratner doubling down on his criticism of the plan. what is he saying about inflation? >> it back loads revenue. >> simply suggesting when you have inflationary pressure as we do and everyone can see the last thing you want to do is add to it. sitting stage essentially for trillions of dollars of more government deficit and data. lauren: he tagged the american rescue plan giving people to people to stay home not to work, too much money chasing too few goods and what happened with too little labor, you stoke inflation. these policies, advisers to democrats and supporters of the biden administration saying too much. stuart: that is a significant disagreement.
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>> the nasdaq down 30, it is a mixed picture. show me the retailers please. i asked for the because early we had a guest that says this will be a bang up holiday selling season and americans are good at spending money and we will spend a lot of it. this will be the strongest holiday selling season ever. right? >> i fully expect that. retail sale year over year, i expect holiday seals to beat close to 20% year over year in
the number would be higher if there weren't supply chain issues. my biggest concern this holiday season, black friday, soleimani saturday, cyber monday deals people are looking for. i don't think there will be many deals especially requiring semiconductors. you see higher inflationary pressures. stuart: people will pay up inflation or otherwise, a lot of money there and they will pay up. >> i absolutely think that. physical store and online sales will be high. covid restrictions weren't around, aren't around this year compared to last year, didn't even have people vaccinated this time last year and now we have a huge population vaccinated that wants to go out and everyone is looking for deals because prices are high. we could see the strongest black friday foot traffic since the internet started making market share 20 years it but i spent sales will be
record-breaking and call me old-school but i will be out there tearing down the stores with the crowd on black friday and small business saturday. stuart: do you have a favorite retailer? >> yes. amazon is the one to stick to, the behemoth. you get the online portion of it, retail side as well, cloud computing. we are one.5 years past covid. the last of the stimulus money is spent quicker with high inflation. that is like q1 or q2 could be the most import and quarters of the decade. consumer spending power is depleted after the holidays that is concerning into next year and starts getting company earnings. amazon is one. stuart: it has been moving up nicely. hope you have a great thanksgiving and see you again next week. >> don't eat too much food.
"the opening bell" rings in 30 seconds, run up to "the opening bell" this morning. we have a release of 50 million barrels of oil from the strategic petroleum reserve that is supposed to keep energy price inflation in check the price of oil has gone up to dollars because the oil won't hit the markets for couple weeks, not out of the will hit for a few months of that in the background plus yesterday's selloff in big tech, see how that goes this morning. we have started trading on this tuesday morning and from the start we have a tiny gain for the dow industrials and even split among the dow 30 between winners and losers, virtually no change, same with the nasdaq, extending yesterday's selloff. big tech on the screen, amazon is up, apple is up 161 on apple
and alphabet turned positive. the retailers reported earlier this morning, look at best buy. >> down 15%, really disappointing outlook on the all-important holiday shopping period for best buy, they are morning sales can drop during the holiday period by 2% because of product shortages and shoppers will be shifting spending, less on tech gadgets. that is shocking to the market and reflected. >> don't see much change for dollar tree. >> it is up 3%. that is pretty significant, in line with estimates. costs were much higher. and they are putting off activist investor.
>> tell me about abercrombie and fitch, the same thing we've seen with other retailers making less per item souls because of inflation and higher prices and cost we have to spend more on. stuart: i'm surprised your best buy forecast lower sales. two guys on the show state will be a gained buster christmas. >> $2 trillion in household spending. what is happening with big tech, if you look at the 10 year treasury yield, something -- stuart: negative. >> we've not seen since the spring time, with jay powell, seen as more hawkish and a full 25 day interest rate hike being priced in for june. stuart: 165 a got to get into
tesla, they have more cars available? >> the model why performance cars that start to be delivered and start delivering in the springtime according to tesla. yesterday this was a big deal, the model-plaps might start delivery in china and one of your favorite analysts from new street said this is a good thing, it is 50% profit margins on higher end models. stuart: tesla is the top model in california. the model why. >> not the model 3 which is the every day cheaper version. attacks bill for exercising those options according to the wall street journal. stuart: has you raise enough money -- >> raise $8 billion by selling.
stuart: tell me about a chinese -- i try. it is up 4% and did well. >> they reported wider, sales came in ahead and an upbeat outlook on future sales. car deliveries were triple in the final 3 months and should go up 40%. stuart: they are a big competitor to tesla. >> lee otto and neo. matching up in terms of monthly delivery. stuart: let's move on to zoom. >> stock of the day. >> i thought maybe the shift to partial work from home. >> remote hybrid. >> the trip to hybrid work with the bad resume and apparently it is. >> yes and no. it is more about the
competition, a new reality for wall street, you have to get used to 35% growth, not 50% that they've gotten accustomed to. zoom has pretty good numbers, they beat on top and bottom line, at least 7 brokerages, so many of them cut their price target and what they are concerned about, microsoft has 250 active users. resume has to spend more to compete when it comes to profits, microsoft spending a lot, and they are losing money to get more use. >> 200 million active monthly users. and and twitter is going to
host its first live shopping show. >> an interesting consumer trend. in asia, china, live shopping extravaganzas. >> a live shopping show sunday ahead of cyber monday so this was done very well for a big shopping consumer market like china which has how many people? building shoppers, and new meta-verse type of qvc experience. 46, $47 a share, consumer trend. >> couple weeks ago was in twitter above 60.
>> it has done very well. help me with this, travelers -- >> chevron. >> move on to the s&p 500 winners headed by dollar tree, nice gain. i don't see any big names. >> apache, devon energy and prices went up instead of down. stuart: dollar tree tops the list and i don't see anything. >> starbucks is up there. stuart: we've been open 7 minutes and the dow is down 16 points. we've been open 7 minutes and yield on the 10 year treasury is one.64% although that is a 24/seven market. check the price of gold below
$1,800 an ounce. bitcoin 56,$700 per coin. oil still going to $78 a barrel despite the release of oil from the strategic petroleum reserve and natural gas shy of $5.0 british thermal units was the average price for gas is gone down. just one sent but down 340. lucky people in california pay $4.71 for a gallon of regular gas. coming up on this program today cdc director doctor rochelle wallinski suggest you rapid test your guests before thanksgiving dinner. >> one extra layer of protection you might take is to take a rapid test before you gather together. stuart: right before thinks giving dinner. when does this end. we've seen these images too. organized mobs looting across the country. it is unsettling. when public order breaks down. in my opinion democrat policies are to blame. i will explain in "my take" at the top of the 10:00 hour. president biden picked jerome
>> we need stability and independence of the federal reserve, unprecedented political interference in doing so successfully maintain the integrity and credibility of these institutions. it is one of many reasons we have support from across the political spectrum. stuart: the president elaborating on why he picked jerome powell for the second term as fed chair. inflation at the highest level in 31 years. what's the output with powell staying in charge? >> that's a very good question
because i didn't hear president biden give jay powell a mandate to stop the worst inflation in 30 years. what i heard him say was climate change, job inequality, lower unemployment, diversity at the fed. i didn't hear and inflation mandate. i don't know. the fed is operating in emergency policy long after the emergency is over. the economic emergency ended earlier, the fed printed money, that's the source of inflation, milton friedman inflation. they should stop? he immediately and start raising their target rates at the beginning of the year. i didn't hear any mandates.
stuart: they won't do that but they won't do it, if they won't do it what is the outlook for inflation. >> it will get worse. the pandemic inflation, the supply chain shortages and that stuff is lasted longer but it is beginning to taper down. what is not tapering down is monetary inflation, they are jamming bank reserves into the economy, nobody wants this money but that is sustaining inflation and alyssa deals with that it will get worse. that is my fear. it will be longer, inflation will be more durable and economy and stock market will suffer. not right away but not so far off.
lail braynard stuart: is the vice chair. you know the inner workings last year, what does the vice chair have? >> by herself not much. the som c is 12 members, the vice chairman of the fomc's vice president of the new york fed but the vice chair has a certain amount of influence. brainar d was the woke person so they put in a republican jay powell to counter that so they put a woke person and she's keen on pushing for climate change, more regulation, diversity at the fed and the unemployment rate, have more equality, here's the clinker. there's three tour for more
open fed seats and you can better i will make the bet they are going to be woke fed appointees. no one on this board wants to fight inflation was they would rather fight climate change in that will isolate jay powell in the near-term future. it's not a great story at all. let's see what he does. i'm all for him. let's see what he does. stuart: the crunch is coming but not just yet. larry, we will be watching at 4:00 eastern time on foxbusiness. have a great thanksgiving. >> thank you, gobble gobble. stuart: politics is giving jen psaki a false rating over her inflation claims. stuart: the first check of jen psaki on how she entered the nbc reporter last week. >> americans are seeing their dollars, their paycheck
stretched. why should americans not be concern injecting $1.7 million or more would raise inflation? >> no economist out there is projecting this will have a negative impact on inflation. >> respond is it really true there's not a single economist who thinks that? many economists have stated for the record they see inflationary impact of the bill will be small and brief but we have lots of economists who expect modest inflationary pressure even in support of biden warned of the effect. stuart: now we have the federal reserve pumping out money and as larry kudlow says the crunch is coming. the white house might place more about inflation. place more blame on corporations for inflation. how does that work? >> the political cost of
inflation, they own inflation so how do you deflect? you blame the company for causing a, blame the company that created jobs for workers, fighting to keep those workers by paying those workers more, companies that are helping them unclog the courts, companies that often swallow the cost of inflation like walmart and target and annoy their shareholders and investors as a result, we are supposedly in a capitalist society, support your companies and their profits as they are going to blame them. the white house knows it will backfire. >> they hate profit and corporations. will high gas prices really key people home this thanksgiving? not sure i believe it will. jeff flock is hitting the road and we will find out through him. ♪♪ want to take the long way
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interstate highway, and 26 degrees, i 75 right now. the price of gasoline came down one send overnight. jeff flock is with us joining us from pennsylvania. are high gas prices really changing people thanksgiving driving plans? >> reporter: there is disagreement about that. not that you like things when there is disagreement bus was can i tell you? the folks at gas buddy. i am on the pennsylvania turnpike, if you look at the picture from the camera on the roof of my car you see not a lot of traffic but folks at gas buddy say they did a survey that indicates fewer people will travel by car this year because of gas prices, 32% of
those they surveyed will travel this thanksgiving by car, 35% last year, fewer this year and pre-pandemic was 65%. aaa disagrees. they say folks will no matter what the price is. stuart: i think -- >> have peaked. look where you can get that, and find oklahoma is the one state of the union with an average gallon of regular of less than $3, texas and arkansas are the other ones and the expensive ones you love to point out, california, hawaii and nevada. we are taking a gamble in nevada. what does the future hold? we talked to gas buddy about that as well, a friend says we
have peaked but that doesn't mean that will hold. take a listen. >> we could see a significant drop but not all at once. prices will continue to inch down the next one to 2 weeks but what happens beyond that is up in the air. >> some people think the spr release will goose demand, make more people drive and make prices come back up so who knows? stuart: almost out of time but i have to say i have a hard time believing people will not spend an extra 20 bucks to fill up a tank of gas in order not to visit their relatives they haven't seen for a long time. i know you would like to respond. jeff flock, eyes on the road. still to come, republican congressman brian style, brian kilmeade from fox, jason rant, the 10:00 hour of varney's next. ♪♪
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if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. ♪ stuart: i like the rhythm of that. sort of a rapid marching. who is playing that. lauren: [inaudible] reminds me of disco. stuart: good morning, everybody. it is thanksgiving week after all. 10:00 eastern. nice gain for the dow industrials. we have green across the board.
dow up nearly 100. big tech, any improvement there. no. only one winner. amazon, up again. amazon, alphabet, microsoft, met at that, twitter, they are all down. bitcoin real fast, let's get to that. the price now is 57,600. here is the reason big tech is down. the yield on the 10-year treasury has gone up to 1.65%. earlier it was 1.67. big tech investors don't like that. that's the markets. now this. it is unsettling when public order breaks down and the events of the last few days confirm that public order has indeed broken down. democrat policies are to blame and democrats should pay a heavy political price. people are dying. you've seen the organized mob looting that broke out in several locations in california. it happened again just outside
of chicago. 14 people rushed in and grabbed $120,000 worth of merchandise. it was brazen. the masked thieves were not worried about the police or prosecution. public order has broken down in another democrat-run city. now we have the case of darrell brooks, the man accused of deliberately driving into a christmas parade in wisconsin. five dead, dozens injured, some seriously. weeks before he used a vehicles a weapon to run down the mother of his child yet he was out on bail. he has a rap sheet 50 pages long complete with gun, sex and drug charges. he gets bail. the it is broken down because of democrat policies to defund police, end prisons and no bail. time's up. this doesn't fly. chaos doesn't work with voters. the democrats are responsible for the break down in public order and they should be held accountable for it. second hour of "varney" just
getting started. ♪. stuart: scott shellady is with us this morning on thanksgiving week. scott, good to see you. scott, how do we get back to a sense of order in our society? >> we have to stop using the terms oppressed and oppress sorry. bottom line basically what they're talking about. you can do those things walk into louis vuitton take what you like as long as you're oppressed. if you're the oppressor something wrong with you. if you're the oppressor, you make a profit. if you're the oppressor you're a winner. at the end of the day, stuart, i will use their words, i will use obama's words. you and i love this country you
actually gave up, became a citizen, right? i love this country too. you know what? took me traveling around the world for 16 years to realize how great this country really is, but when the left looks at this country they don't see what you and i see. we see a great country that can be better, we can make improvements. it's a great country to begin with. that is the basic premise. in their words they want to fundamentally transform america? why would you want to transform something greatest in the world already? you can make it better, improve it. they want to break it back down and build up in their own likeness. they don't mind if you're the oppressed to do whatever you want to do. there are no laws for you because you're not in the club of the oppressor. that is the problem. biden did it yesterday himself. he is going after oil companies for being successful, for being
winners, for making a profit. profit's bad. being a patriot is bad. they're doing this intentionally. this is exactly their playbook, oppressed, oppressor, fundamentally transform versus make improvements. that's the bottom line. stuart: i am glad you appeared today, right before thanksgiving we need to understand what a great place this is, how we do not wish to be transformed on this thanks giving week. thanks very much. scott, you sir, are all right. wish you a great thanksgiving to you and yours. >> you got it. stuart: let's get back to the markets, we have some movers including the gold miners, most who are down. lauren: gold is below $1800, because the dollar is at 16-month high. why is dollar up? fed fund hikes next year, 100% of liftoff by july. stuart: by july, higher rates by july. up goes the dollar, down goes gold. i think i got that right.
lauren: 1% declines for barrick, newmont and anglo gold. stuart: disney. lauren: down 10% this month. there is a report that comcast, nbc universal is planning to unplug their content from hulu, partially owned by disney and put it exclusively on their peacock subscription service. that is another hit this month alone for disney and content they offer. stuart: tell me about urban outfitters. don't they get clothes from asia and vietnam? lauren: closures there have impacted inventory that they have. the stock is down a whopping 11%. they have three main brands. many are struggling because of these inventory issues. stuart: best boy forecast lower sales at christmas because they can't get inventory. lauren: at a time consumers are going back to the stories. stuart: spending by hundreds of billions, i was about to say trillions but not quite.
look at bitcoin a football player, odell beckham, will take his salary, full salary in crypto? lauren: obj, 100% of the remaining rams salary will be paid in bitcoin. to kick that off, i'm taking my new salary to bitcoin. cash-up is a digital payment company owned by square this is risky because the price of bitcoin and cryptocurrency is so volatile. so many athletes, aaron rodgers endorsing cryptocurrency willing to take on the risk to get paid in it. they're rich. they make a lot of money. they're endorsed by payment companies but nonetheless it is becoming acceptable. stuart: would you take -- lauren: no. stuart: nor would i. lauren: i don't know what to do with it because you can't use cryptocurrency for transactions. it is more of an investment.
stuart: well-said. i'm with you, lauren on this one. look at this, op-ed, "wall street journal" women's tennis beats the nba. one of the authors of that piece is william mcgurn. bill joins us now. compare the two, women's tennis, the nba how are they standing up to or otherwise to china? >> look, stuart, you know the usual story with china. businesses there, they run afoul of china usually for something fairly innocent. they have taiwan listed as a separate country where their hotels are or something. china explodes and people apologize. well in this case chinese woman's tennis player. peng shuai went missing after posting an allegation on chinese social media that she was sexually assaulted by a high chinese official years before. the wta says we want to know where she is. she disappeared.
her social media site was scrubbed and we believe china needs to investigate this thoroughly and fairly. ever since then chinas been doing ham-fisted thing to take them on but the wta is prevailing in this sense. china is having to prove itself to the wfa's criteria rather than the other way around. of course wta is risking matches and willing to risk its money but shows you can play against china if you stand on your principles. stuart: i don't know whether you got an opinion on this, what do you think, should america boycott the olympics? >> i'm not quite there yet but this is again, what you raise is really interesting because what has china done with the ham-fisted things? it is releasing videos of this woman and so forth but so far it hasn't let her speak to the head of the wta i believe. all that is doing, is building the case for a boycott.
one reason you're asking me, publicity over this is raising the question, should we go to china and boycott. i'm not quite there. i often think a boycott is a substitute for action but i definitely think we should support the nba, not the nba. the wta it made a very reasonable claim. this woman made a serious allegations against one of your top officials, it needs to be treated seriously. stuck to his guns. kudos for him. stuart: we should be critical of the nba for their total inaction, doing a kowtow to the communist party. >> right. the nba -- stuart: not good. we'll leave it at that. bill, have a great thanksgiving. see you real soon. >> thank you. stuart: on a related note, cfn's live footage of reporting on tennis star peng shuai, that is being censored in china. take a look at this. >> i want to explain to our viewers what is happening on our screen right now because underneath your face they can
see a box which is the actual live feed of this broadcast in china but it is all color bars. it went to color bars the minute you started talking. stuart: yep. their own people, not allowed to see any criticism of the communist party of china. got it. all right. now this, lush cosmetics will deactivate all their social media accounts, lush cosmetics. what are they trying to do? lauren: they sell soap and bath balms. relaxation company, social media is bad for mental health. so as a result they're snapchat, tiktok all their social media platforms will be completely deactivated until the social media companies enact change. lush never says what they want that change to be. we never seen any company follow
suit with lush's decision. i give them credit. it's a bold move. this quit of social media happens on black friday, a lot of other brands offering this sale, come on in, order this. they're doing it on black friday. you're not impressed. stuart: no, i'm not. lauren: you don't think it will do anything to change the way teen's mental health, all people's mental health could be impacted by social media. stuart: if social media is hurting teen's mental health. what do you do about it? i don't know. i don't anybody knows. lauren: lush says figure it out. we'll go back on your channels when you do. stuart: the u.s. is considering sending military advisors and weapons for ukraine. as they prepare for a possible russian invasion. ric grenell takes that on in the next hour. 800,000 non-citizens in new york, non-citizens, could be able to vote in local elections. a new bill is hoping to expand voting rights for green cardholders.
we have details. suspect who plowed into the wisconsin christmas parade was released on bond days before. the district attorney there says the bond was inappropriate low. so why was he out anyway? we'll have the report from wisconsin after ♪♪ it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more. it starts with an army vet's dream
38 degrees in pennsylvania. nasdaq is now down 83 points. by the way, goldman, united health, both dow stocks, both on the upside. that is helping to get the dow to the tune of 66 points. without the two stocks the dow would be negative. let's get to wisconsin. according to police, the suspect, darrell brooks acted alone when he intentionally plowed into a christmas parade. grady trimble is in wisconsin. he joins us now. darrell brooks had a lengthy record. allegedly tried to run a woman over with his car just days ago. why on earth was he not in scale? reporter: stu that is the question so many people are asking this morning and the simple fact is his bail was set at $1000 in that case. he posted it. so he was out of jail in that specific incident. he was accused earlier this month of running over the mother of his child, quite possibly with the same suv he used to commit the horrific attack here in waukesha.
again we mentioned that bail, $1000 in that case and the democratic district attorney says his office is reviewing why it was as they put it, so inappropriately low given the severity of the charges and brooks' lengthy rap sheet. meanwhile the community here in waukesha is mourning the loss of five people ranging in age from 82 to 51. people gathered last night to mourn the loss. praying for 48 children, including 18 children, six of them in critical condition. >> we went from a situation of just exuberance, thrilled children, to calamity. >> we grieve together right now. we will heal together moving forward. reporter: brooks is now facing five counts of intentional homicide. more charges could be added. his first court appearance,
stuart, is 4:00 central time this afternoon. stuart: grady trimble, thanks, grady. brian style, republican from wisconsin. congressman do you place responsibility for this man out in public on the democrat district attorney? >> this is horrible. many families won't have children at thanksgiving. they will be in the hospital. many families lost a loved one. why the person was out on the streets in first place is the question we need to ask. why did the d.a. make such low bail and why was a low bail approved? this is no solace for families injured and loss of loved ones, which will make for difficult thanksgiving this year. stuart: surely some of the blame, some of the responsibility has to be put on those people who are clamoring to defund the police, empty prisons and let criminals out without any bail?
some of the responsibility has to rest with those people. they ever democrats. we should spell this out. go ahead. >> some, a lot of it, many democrats who called defund the police are anti-police rhetoric, they desire to end prison all together, those individual are ones created the mess in the first place. we see d.a.s in milwaukee, across the country, refuse to enforce the rule of law. when you refuse to enforce the rule of law, chaos prevails. we saw that play out in waukesha. we saw it play out in cities across the united states. we need to get serious again on crime. stuart: are the voters in wisconsin going to buy this any longer? >> i don't think we'll be able to. we seen it play out in kenosha where we saw our democratic governor refuse to provide the resources needed. as a result we have three nights of rioting. we saw a criminal clearly should not have been on the streets
causing mayhem and chaos in the city of waukesha. wisconsin voters need to take a hard look at this and hold the democratic leaders driving this narrative accountable. stuart: we thank you for joining us we appreciate it. i want to offer sympathy or empathy to the people of wisconsin where this dreadful event happened. we wish you a very good thanksgiving and all the people of wisconsin a good thanksgiving. thanks, congressman. >> thank you. stuart: new york city is expected to approve the our city, our vote bill. this would mean 800,000 non-citizens would be able to vote in local elections. give me the story. >> these are green cardholders, dreamers, residents of new york city for just 30 days would be eligible to vote in local elections under a proposal that is expected to pass the city council next month. stuart: you have only got to be here for 30 days? >> that is what it is a is.
stuart: tourist could fly in stay in a hotel and vote. lauren: buying votes, democratic votes. san francisco, chicago, some towns in maryland. critics say it removes incentive to get full citizenship. keeps borders open. people crossing the border illegally are wearing pro-biden gear, flags hats, t-shirts. buys the democratic vote. stuart: now you know why we have a open border. they're importing future democrat voters this is absolutely outrageous. however i digress. lauren: welcome to new york city. stuart: i will vent someplace else. a city in california declaring itself a sanctuary from federal covid rules. can they do that? the mayor of oroville, california, he is on the show. if you still haven't bought groceries for thanksgiving. you may want to go sooner than
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♪. stuart: markets are all now in the red. dow, s&p, nasdaq on the downside, especially the nasdaq. look at it go down 112 points. yield on 10-year treasury is up, down goes the nasdaq. susan is with me. what do you got on crypto plays? susan: risky hedge here, hedge against some of the volatility in the rest of the markets? crypto, bitcoin, ethereum, are getting some bids today. an emerging outperformer in the cryptocurrency space called avalanche. 30 billion-dollar market cap. 10th biggest cryptocurrency. benefiting from nft, smart contracts and more defy use as we call it. show you dicks sporting goods, they did well in the summertime, making almost twice as much in profit as anticipated. foot traffic was up eight times wall street forecast. no supply chain problems but not
as rosy as a forecast. i guess people wanted them to do really well during the holiday period. spotify announcing a deal with netflix. they're coming together to launch a whole new netflix hub on streaming. soundtracks of favorite netflix shows like stranger things. stuart. netflix is even down, susan, good stuff. macy's, this is for you. i'm sorry. macy's is turning the thank giving day balloons into nfts. tell me how that works. lauren: isn't that exciting? snoopy and the large balloons walking down the avenues here in new york city. imagine paying for them in the future this is a great revenue model. also maybe profitability for macy's has been struggling with bricks and mortars. i think it's a new innovative way to capitalize on the new nft
trend. might as well go high-tech if you get more money per sale, right. stuart: but what do i get? i get an nft with snoopy on it, on my phone? that's it? lauren: nft get value from verified ownership. you own the picture of snoopy and -- stuart: whatever. you can't even name them. [laughter] susan: you surprised me with some of the balloons. i didn't know we were going to show. stuart: time's up, time's up, susan. you will be back later. two days to thanksgiving. look who is here? mike guns gunzelman, he went around the city to interview fox talent, not me, others on fox, to get their favorite food. before we get into the report, what is your favorite thanksgiving food? >> turkey and mashed potatoes. definitely not thankful for vegetables. if there are vegetables, green
beans, beets, i don't want to eat those on thanksgiving, not 364 days of the year. stuart: brussels sprouts. >> you're killing me, stuart. last year we were in the middle of pandemic. not everybody was able to travel. this year will be different. 53 1/2 million people will travel throughout this week. before the inevitable fights you will have, they will happen at the dinner table, it is important to remember that thanks give something about friends, family and food. i asked favorite fox business talent about their go-to grubs. the big day is thanksgiving. what is your favorite thanksgiving meal you will be having. >> my favorite side, turkey. main course is my favorite thing on the table. definitely go for the turkey first. >> everybody says turkey. if i'm going turkey i go dark meat. i'm a stuffing guy. >> i love a good yam, sweet potato with marshmallows.
>> i want more steak if possible. >> going with steak. >> nontraditional. >> my favorite side dish without question is stuffing. not just any stuffing, it has to be the stuffing has been stuffed inside of the bird. >> i love that it is so good. second is mashed potatoes with a lot of butter. my home district has largest cranberry production in the country. i love cranberry raisins. >> my safety side dish, as you know i'm celebrating my 39th birthday, my favorite side dish is stuffing. >> my favorite side dish, my kids will hate me for saying this, i love brussels sprouts. honey put brussels sprouts on for thanksgiving. kids, you will have to deal with it. >> anything involving potatoes, mashed potatoes, yams, i love that too. that whole starch fest at thanksgiving is perfect for me. >> my favorite side dish.
i will go with green bean casserole. i only eat it once a year. it is not that good. when i think of thanksgiving i go with green bean casserole. >> my love is the bad stuff. betty crocker one years back. i doubled amount of cheese, doubled the amount of sour cream of course and i love it. i like the bad stuff. i like the carbs. stuart: what was joe concha wearing? looks like he had a beanie on. >> that was something. a little bit after fedora type thing, i'm not sure. how about pete saying i don't really like it, i will eat the casserole one day of the year. stuart: ask him about that. i think pete is on the show little later on. >> what is your favorite side dish you will have? stuart: i leakage berry sauce. great mix with turkey and goes well with brussels sprouts. that is joke, folks. lauren: lasgna.
lasgna, first course thanksgiving. italians. stuart: a little heavy to start. lauren: very heavy to start the day. we took it out one year and did chicken soup instead, but lasgna is my favorite thanksgiving dish. stuart: i bear that in mind. gunz, thank you very much. >> happy thanksgiving. stuart: let's get serious. publix is placing a limit on holiday staples ahead of thanksgiving. lauren: this is serious. in the seven states publix operates in, two per customer of the following, canned cranberry sauce. we're hearing it was hard for ocean spray to produce the cans. you have cranberry sauce with the rigids. pump pin pie filling, oils, a lot of paper goods. stuart: sports drinks. lauren: i know. juices. do you have something to say about juices? stuart: well -- lauren: i just do it for you. stuart: i like grapefruit juice. it is in short supply.
lauren: talking with the before the break. they have mostly everything i need. sometimes the brands are not always ones you are used to. there are substitutions. stuart: i don't like anything new. don't like anything new. don't like it. lauren: change is scary. creature of habit. stuart: thank you very much. all right. move on. pfizer just released brand new data on its vaccine efficacy for children. it is very good news. we got details on that. indoor mask mandates are returning in some places as we head to the holidays. when will these draconian restrictions come to an end? i will ask dr. marty makary on the show next. (naj) at fisher investments, our clients know we
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stuart: all right. not mixed at all. the dow is down 70. the nasdaq is down sharply. 140 points down. the s&p is down 15. this is a losing day. so we'll do something different. we'll show dow losers headed by walt disney, sales force and nike. three big losers on the dow. s&p losers, best buy, down 16%. they actually forecast lower holiday sales because they can't get stuff in the show. monster beverage a big loser down 3%. adobe, cadence designs, on the downside. of the lots of losers these days. here is a question for most of us, how many shots before you're fully vaccinated? david spunt, has the white house answered that question directly? reporter: not the white house but the cdc, i checked web site,
after you get the second pfizer or moderna shot or first johnson & johnson vaccine you're considered fully vaccinated. these goalposts keep changing because nobody in the administration thought we would deal with covid today in march, november of 2021. things are constantly changing, but for all the medical experts say, sturtze, the vaccines are effective, confusion still persists when someone is fully vaccinated given a chance to get the booster shot. immunity began to wane after first two shots. that is why doctors are recommending a booster, if you have natural immunity and it is quadruple protection. dr. fauci said booster shots are good and goalposts move in a pandemic and we're still learning a lot. listen here. >> we'll be guided by the science. people should not be put off by
the fact that as time goes by and we learn more and more about the protection that we might modify the guidelines. that is what we've been saying all along by follow the science. things change. you have to follow the data. reporter: dr. peter hotez, town at texas children hospital's, another vaccine developer. good news, third immunization should have virus nauert alizeing antibodies, longer protection. maybe not one and done or two and done but three and done. meaning i don't necessarily think regular boosters will be required. that is what people want to know if they get the booster shot, do they get another one in six months or a year? as of now doesn't seem to be the case. cdc says you're fully vaccinated after two shots, one with j&j. stuart: david spunt, thank you very much indeed. let's move on to the vaccine from pfizer. pfizer says it is 100% effective in preventing infections in 12
to 15-year-olds. 100% effective. doctor matt mccarthy is with us. doctor, it sounds very good news to me at least. you have children in that age group. do you have them vaccinated? >> this is great news. what pfizer announced that they followed kids aged 12 to 15 for four months after they got vaccinated. those in the placebo group, those in the vaccine group. they found 30 cases after those four months. they were all in the placebo group. that is 100% effective. we can't get better than that. i have two kids, age 5 and 7. i got them vaccinated actually on friday of last week. i was prompted to do that, after watching the cdc debate the vaccines and when they mentioned that two million kids aged 5 to 11 have already been vaccinated. there have been no reports of my owe car died tis. that was good enough for me.
we'll watch and see what happens with the second dose. that is the big question here. the second dose one we're concerned about potentially myocarditis. we'll have to vaccinate our way out of this pandemic. stuart: i was about to say, this is the way out of the pandemic. 100% effectiveness in that particular group from that particular vaccination, that is the way out. but what happens here? we've got erie county bringing back public mask mandate. denver about to announce indoor mask mandate today. you get the feeling, when does it end, and what is the science forcing people masks indoors? >> it feels like we're on a slow moving train headed for a cliff and you're pewerless to do anything about it but that is not true, you're not powerless. the reason towns and municipalities bringing back mask mandates rising and they don't know what to do. so what you can do, you can try to avoid high-risk situations.
for thanksgiving, for example, if you know you will be in indoor crowded poorly ventilated space with unvaccinated people you can have people tested. you can do a rapid test before that but the way we get to the end of this, the time when this is really over when it no longer is a big deal when somebody has a positive test. we can talk about the arrival of new therapeutics and vaccines and boosters, all that stuff but when a positive test still requires you to quarantine or isolate for 10 days, this pandemic isn't going away. we're not going to be able to get there at least until everyone over the age of six months is eligible for a vaccine. that should happen in the spring of 2022. we're getting closer. i think we'll be in for a tough few months with the winter surge in the northeast and in the cold weather climate. we are getting to a point every person over the age of six months will be able to get vaccinated. we can finally start to talk about getting rid of the masks indoors. we're all exhausted. we've seen guidance change
consistently. that is because the virus continues to evolve. stuart: fed up and confused, i might add that as well. doctor, always a pleasure. have a great thanksgiving with you and your family. we appreciate you being here. >> you too, thank you. stuart: got it. the faa, is sounding the alarm over 5g networks. they say 5g networks could interfere with an aircraft safety equipment which helps planes take off and land. we have the story in the 11:00 hour. look at this, another high-end store robbed by a group of looters in chicago. this is a chilling breakdown of public order. who is to blame? brian kilmeade takes that on next. ♪.
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♪ stuart: all right the markets are all pointing south, especially the nasdaq which is down 164 points as we speak. i want you to take a look at microsoft and home depot. both of them are dow stocks. both of them are down very sharply, especially microsoft. which is down over five bucks. the problem for big tech this morning, so far is that the yield on the 10-year treasury
has gone way up above 1.65%. that doesn't sound like like much, i understand that. investor in big tech, you're conscious the rate of return on other investments like treasury bonds for example. microsoft, a lot of the other big tech stocks are way down as that 10-year treasury yield goes up. okay. 71 points off the dow from those two dow stocks. 10:51 here on the east coast that means it is time for brian kilmeade. i'm sure you've seen this. 14 people stole 120,000 bucks worth of merchandise from a louis vuitton store near chicago. another incident in the mass looting going on in a lot of different places. what is responsible for this? who is responsible for this? >> it is all, what we're seeing roll video of san francisco where even more cars involved and more money was involved. keep in mind, stuart, you and i could go take up just under
$1000 worth of merchandise, not going to be prosecuted. why? there is belief in left-wing mayors and d.a.s, america is an oppressive country, time for minorities to get their fair share, stealing $1000 from any store they want and they will not be prosecute the. think about how devious, divisive this is. we'll not prosecute crimes. we'll empty prisons. no cash bail. how does that all relate to rittenhouse, waukesha, what happened over the weekend and looting campaigns we're seeing this is all predetermined. these are self-inflicted wounds. the best analogy you don't give an arsonist credit for putting out a fire he started. president is talking tough on crime. the governor of california won't make any excuses for looting. really? you allowed all of this happened this is outrage. mayor san francisco london breed. you know how london breed will
attack the problem? they will limit car access and they all filled up their cars. talking about taking issue head on. if these companies had a ring doorbell i could prosecute anyone stealing a package off my stoop. i could get the ups guy. they can get all of these people in a matter of seconds but we're in a period of this country where crime is a okay. stuart: that is exactly where we are. i want to follow up on rashida tlaib. she was questioned about a bill she supports that would empty federal prisons in 10 years. this is what she had to say. roll it. >> release everybody. but did you see how many people mentally ill in prison right now? >> no the bill actually says release everyone. >> in 10 years. think about it. who are we releasing. >> there are like human traffickers. >> oh, i no. >> child section -- you mean you don't actually support that? you endorsed the bill?
>> no. stuart: i don't know what she thinks she wants to empty federal prisons within 10 years. that to me, brian kilmeade is utter nonsense. >> think about this. this has been out there, her support and "the squad" support for this ridiculous idea to empty prisons in 10 years. jonathan swan of "axios" is only one to pin her down on it. she sun able to defend her stupid policies. i don't say stupid because she is stupid, this is so wrong i don't even know where to start. prisoners belong in prison. ones that are not, don't belong in prisons have lawyers assigned to them. that is the way our system works. has no answer to what about sexual predators? what about human traffickers? you never thought of them categorized as criminals? of course they're there. she wants to point to a few people arrested on false premises or proven through dna testing don't belong there, taking a long time to be charged. she is being pressed by
surprise, by a member of the media. jonathan swan is fantastic. we've all met him. stuart: good man. >> i don't think she was prepared to defend it. at the same time aoc saying the same thing. i ask you this, stuart, ron klain has given "the squad" and the 93 members of the house so much power in this administration, this country is vehemently rejecting it. stuart: yes. >> we don't want the policies of an extremist on either side running the country. what more proof do you need? stuart: i have got one minute left but i got to get this in. new york is considering allowing 800,000 non-citizens to vote in local elections. now you know why we've got an open border. the democrats are importing voters. last 30 seconds to you? >> in a sanctuary city, perfect storm, right? so this to me, you have to have federal government has got to step in. there is right and wrong. american citizen voting in an american election i thought was a given. that is why you try to become a citizen. that is one of the things that
happens. it is voting is taken away from you when you're a criminal. that was once the debate. now we have people who violated our laws, overstayed visas, say you're a non-citizen vote. you know exactly how they will vote for people that gave them that citizenship. stuart: you have only be in town 30 days are and vote. could you be a tourist and vote, ridiculous. brian, out of time unfortunately. have a a great thanksgiving. >> see martha stewart in the halls. he will be wearing jeans. stuart: know. stuart: i'm back in suits. jason rantz, i will ask him about declaring his the player of oroville from federal overreach. executives and high-tech workers are fleeing blew states and flooding into red states. i will have an opinion expressed on that in my fake -- "my take"n
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still green and the thing that needs to be left out of this bill are the massive tax cuts with so many giveaways to the progressive left it doesn't matter for the future of our country. >> bank reserve into the economy feeding inflation. it is going to get worse. eventually the economy and the stock market will suffer. >> it is your friday ♪♪ stuart: i like this. jump right in. sixth avenue new york city, crowded on this tuesday morning right before thanksgiving. the nasdaq composite down one.5%.
a big drop for big tech today. microsoft down $5, down 40, amazon is down 35. here's the reason why tech is down, the yield on the 10 year treasury moving up, 167 earlier, 164 now. big tech is down. another win for republican state. samsung chooses texas for its gigantic $17 billion semi conductor plant. a formal announcement comes this afternoon. reportedly they will billion taylor, small town 30 miles from austin. texas is on its way to becoming a major high-tech center. intel, hiring 1700 for its design campus in austin. elon musk moving to the's record is there. why texas? it is a pro-business state.
executives and high-tech workers flooding in phase low taxes. minimum of regulation and the governor committed to prosperity. businesses not exactly flooding into california. business is going the other way. escaping a failing education system, draconian environmental rules, skyhigh taxes and the governor who never met a mandate he didn't like. new jersey or illinois, business takes a backseat. capitalism and exploitation. big state governors stamp their feet and threatened to come after you with they leave but businesses will leave. red states lay out the welcome mat. texas giving samsung a break on property taxes. governor abbott is piling on the lone star state advantages. of course he is.
he wants texas to win, not flounder around whining and complaining. that the political divide we have today. blue states want to be like europe, taxed, regulated, also negative, red states once it to go forward. the third hour of varney just getting started. will kane this morning. that is the political divide. blue states want to be like europe. >> that was "my take" near and dear to my heart. it is not just about texas. i have a texas flag here in the tennessee flag here. it is a national story. the idea of america was little
laboratories of democracy, 50 experiments with how you organize a society and people vote with their feet. people are voting with their feet, they are moving. companies and individuals, red states like florida, tennessee, texas and for two reasons because policy and culture, policy is what you're talking about, tax policy and business policy, relation policy then invites people like samsung or elon musk to resituate company headquarters in places like austin and taylor, texas. and culture is the other part. free state versus lockdown state park. my neighbors across the street are people from california that i knew who moved to texas because of the culture because they are tired of being told to show a vax card, keep kids out of schools and remain locked down. stuart: wisconsin, district attorney admitted darrell brooks, arrested in a deadly
christmas parade was out on $1,000 barrel after punching a woman is running her over with his car. to me this is symbolic of something happening all over america, democrat america, breakdown of public order. this is a serious national problem that has to be addressed quickly. >> let's stick with the theme. it is not just cultural. it is policy. democrats across the country have been pushing for bail reform because they believe like everything else it has a disparate impact, what is bail reform, reduce cash bail, let guys out of jail quicker, this guy has a rap sheet 50 pages long, 50 different reps in wisconsin alone. some in nevada for underage sex with a minor. a week or two ago he was let out of jail after hitting someone with his car, the almost exact same crime and the bail, $1,000. we've got to stop looking at
everything through the prism of race and see if the quality of lives and safety at the top of the list, put criminals on the street they commit crimes. the trick to bring this full circle is for places like texas, florida, tennessee, to retain the culture that drew people to the state in the first place. don't given to these politicians and ideologies that ruined the place you ran from. stuart: will kane, well said, thanks very much. back to the markets, mike murphy is joining me something that i found surprising, predicting quite a correction in big-name stocks. have i got that right? which stocks are you talking about? >> good morning. great to be with you. and they have seen big corrections.
look at fedex. look at disney. large high-growth names, and you can add paypal in there. visa in there. all these names with a big correction and then turn the page to the overall market, the s&p 500 or uber you have on screen, one of the largest holdings down 62 below 40. a lot of names of gone through massive correction but the overall market driven by big tech, the s&p 500 is sitting right at or near all-time highs. i did 2 point that out, and to sell those winners and go through these corrections is tough so a lot of individuals are better served owning a
broad basket like the s&p 500. stuart: would you suggest that you buy the dip in paypal or uber or disney? is that the kind of thing you would do? they have a huge correction. >> absolutely. short answer yes, like uber for instance will be cash flow positive. that is one we own and anything lower than this like in the 30s we have a lower cost basis but something like paypal the corrected hundred points ran up 200 points before that so you have a huge gain in paypal. i would average down if you think there is more upside like at disney, came from 200 down here to the 150 range. by all means buy more if you own the individual stocks already or there is nothing wrong with taking the broader approach and owning a broad basket of high-growth names.
it holds up better than the individual names. stuart: the spx, how about the qs, triple q, you like that? >> i do. that's a great question. i don't think people need to run out at this time and by the qs. i would rather see people by xp why, the s&p 500 because it is a broader basket although you still get your apples, amazons, the top holdings, in sp why but if you go by the qs you get more levered to those names or more exposure. for the people watching your show they should look at a broad basket of s&p 500, xp why, best place to put their money in this market. stuart: a lot of people follow your advice and doing it right now. have a great thanksgiving, see you again soon.
let's look at some of the movers, in particular best buy which is down 16%. >> worst day since march of 2020. the ceo, rising steps hitting profits, they have seen a noticeable jump in people coming in and grabbing stuff and that is hurting employees morale and creating a hard time to keep their workers because people are scared to come to work when your stories getting looted and put some electronics behind cases. stuart: when the report came out, they forecast lower sales because there's not enough urgent eyes. on the call the ceo is saying theft is a problem as well. >> the gaming devices, people are stealing them. the supply chain and crime is a double whammy and that is why stock is down 15%. stuart: dollar tree hit a new high.
lauren: they expanded charging one dollar and $0.25, customers didn't shy away so they will be one dollar and $0.25 trade forever, sold goods for 35 years and we are changing it. times are changing. stuart: jams -- >> it is sweet squeeze for higher prices. when it comes to folders coffee and the dunkin coffee they manufacture for the retail stores, so far customers paying higher prices, stocks today. stuart: the dow just turned ever so slightly positive. a director at morgan stanley has a message for young bankers, quote, you are nuts. if you are not coming into the office you are nuts. we've got the story. seattle just elected its first republican in 34 years.
and attorney defeated a democrat who wanted to abolish the police. seattle residents of come to their senses. we will answer that question. by the end of the winter you will be vaccinated, cured, or dead. that's the warning from germany's health minister as covid cases climb in europe. rick grenell is the former us ambassador to germany and he is on the show next. ♪♪ i'm not crazy ♪♪ i'm just a little unwell ♪♪ ♪♪ but stay a while ♪♪ on this side of me ♪♪ i'm not crazy ♪♪ i'm just a little ♪♪ i know when i'm ready to run. what's strong with me? i can find strength in a rest day. what's strong with me? there are some nights i sleep so well... i'm ready for anything. find out what's strong with you with daily readiness on fitbit. [gaming sounds]
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with fire by encouraging taiwan's independence. rick grenell, director of national intelligence with me now. likes like our rivals are testing the administration, testing us in ukraine, taiwan, the chinese. we look week after afghanistan? >> you think? i would say you are spot on. weakness is encouraging more bad actors to come forward and to try to take advantage of the united states. this all started when china came to alaska and lectured us on our soil, finger wagging about trying to say we need to do more on human rights. think about that. this has been a theme, and unfortunately this all starts in washington dc with a cover up for the ruling party from the media. you know during the last campaign there was a laptop,
under biden's laptop found with a treasure trove of information about the biden family's financial ties to the chinese government and chinese firm. that was roundly dismissed by the smarty-pants people in washington dc because they called it russian this information. blame it on russia. i always say russia is a problem, china is the crisis many the democratic party are ignoring. stuart: should we boycott the olympics? >> i would have supported a boycott a while ago before our athletes started training. now that they are training and we have given them the green light over the last year and we have a lot of athletes that if you pull the plug it is unfair to them. what i would rather see is the biden administration go after american corporations and tell them don't give any money to
beijing, don't give any money to the beijing olympics, squeeze them on the money side and not at this point, it is too late. i would have supported a boycott earlier. stuart: the cdc warns against traveling to germany because of covid over there. the german health minister warns everyone will be vaccinated, recovered, or dead by the end of winter. you are a former ambassador to germany. are the germans taking this in stride, submitting to this authority, lockdown authority, how are they taking it? >> you are talking about the health minister who is a good friend of mine, he's a member of the christian democrats, the political party that angela merkel is part of and they did not win in this last election but the new socialists who are trying to form a government have not quite formed the government. i say that because the
christian democrat merkel, they are still in charge in germany. it will be a short time before we see which government forms. they made it clear, stefan seaburg is the spokesman for chancellor merkel's government. they made it clear that they are not going to take up vaccine mandates so what i like about that, hearing him talk about dire warnings and being very critical is i think that is the appropriate role of public health officials. they should be very firm, the public should hear those warnings. they could go all in and even be dramatic but they shouldn't cross the line in telling individuals they have to do something, changing behavior, taking away liberty and doing mandates. that is what the german
government is doing right now. giving dire warnings but not moving in the direction of mandates at this point. stuart: but austria has. you've got to be vaccinated by february. are they going to get away with this? public revolt to take a step back. >> there's a lot of public revolt, austria and germany are close. they speak the same language so there's a lot of similarities? austrians avenue government, not as good as the old government, rush to put mandates in place. something to watch, the socialists, are they going to change cdu's policy, more protests in berlin, big moment in german politics, bev varian
minister president has said he supports vaccine mandates. it's big to see bavaria move in that direction. stuart: fascinating to see how it plays out. ric grenell, see you soon. check those markets. i think the dow just turned positive, we are up 30 points but the nasdaq taking it on the chin. is down 172 points. higher treasury yields hurting the nasdaq. show me zoom. they are warning investors about a revenue slowdown as more people return to work a stock is down 18%. executive at morgan stanley has a message to young bankers working from home. he doesn't want you to do that. what is he saying?
>> facetime not just a function on your iphone but a way to get ahead at work, top brass at morgan stanley wants to remind you young bucks of that. i'm no longer a younger buck per the definition. managing director of the firm, if you are 21 to 35 i'm no longer in the younger buck category. you are nuts not to be in the office all the time. the takeaway it is prime time to soak up knowledge to older more experienced bankers and that will not happen on zoom call. stuart: he is right. you want to get into were get in the middle of it. >> you have to be in people's faces. i am eager. can't just get a report from you. stuart: we agree on this. citigroup creating new jobs to deal with cryptos. that is a big deal when a big things like that gets into
cryptos. what are they doing? >> normalizing it, looking to create 100 roles focusing on digital assets including glock chain additional currencies, the latest by a traditional bank trying to establish a significant presence in the growing crypto sector. goldman sachs launching a crypto team, jpmorgan chase allowing wealth management client access for crypto currency funds. it is here. stuart: it is not going away. hold on. more for you later on. one more thing to add to your thanksgiving checklist. covid tests. the cdc calling on people to rapid test their guests before you sit down for dinner. one city got so fed up with rules and regulations in california they declared themselves a sanctuary against covid mandates. the mayor of that city joins me in the. ♪♪ i just want to break the rules ♪♪ ♪♪
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philadelphia, 40 degrees. it is follow after all. the dow nicely turned around, up 45 points, the nasdaq in the doldrums. susan is back. with elon musk -- >> the crypto space, the largest crypto exchange and religious 3 times the volume. there was a problem for dogecoin holders and some losing the exchange or giving extra dogecoin by accident and asked to return. elon musk tweeting it sounds shady and the doge holders are protected from errors that are not their fault and a billionaire didn't take to being called shady, then he tweeted out a link to a news story about tesla's recalled
cars, and those bitcoin of charles: and dogecoin. >> we got some not just relief but statements from the federal reserve on crypto asset policy initiatives with the next regulation from the central government. i don't see a lot that is new. the most important part of this is how they plan to govern the crypto assets custody which i will explain to you. and crypto banking system. stuart: it may not be new but not hurting cryptos. a city in northern florida declaring itself a sanctuary from government overreach.
chuck reynolds joined me now. welcome to the program. we would like to know exactly what covid rules you are walking away from like mask mandates. >> nice to be here. not walking away from any laws. reaffirming structure of government but under a constitutional republic. the state of emergencies are declared, give them absolute power. i would introduce legislation that a state of emergency is only active for 14 days and it would have to be revisited by the legislators to rio prove it instead of open-ended power tools being made up.
stuart: forgive me for saying this but we are surprised we are doing this in california, and i think california is a place that only too willing to submit to top-down rules and regulations, doing the exact opposite. what is the response? >> very positive from all over the world. california, my family lived in this town since 1870 and only the coastal range that acts and feels the way you see it. the inland is conservative. stuart: have you heard from governor newsom. >> no, sir. stuart: has anybody taken you on and that you can't do that? >> no, sir. stuart: how is it going so far?
>> doing really well. people are refreshed they are being reminded of who we are and what our structure of government is. stuart: can you get other towns to create a zone, and large do zone, covid restriction free? >> it is not resisting against one thing but standing up for personal rights, personal choice. we are not against one thing or another. we are for people's personal choices. stuart: i may be an east coast guy but i appreciate what you are doing. freedom is the bottom line in america and you are not breaking any law, just questioning a rule, nothing wrong with that. it was a pleasure having you on
the show. come back soon and tell us what you are doing. we would like to hear from you again. >> appreciate the opportunity. stuart: have a great thanksgiving. i want to bring back todd, he is a recovering lawyer. what do you make of this covid sanctuary? is there a legal hurdle? >> a resolution, the strength of the resolution is in doubt, like saying i am the 9 to noon anchor on foxbusiness, no you are not. they will say it is stuart but hear me out on this. what they can lean on is recent circuit court decisions that a shot down a lot of the mandates from the feds. the only issue with that is the fact that if you are going to go against the federal government they have limited resources, the state of california, they have unlimited resources. your tiny little town might not have the money from a legal perspective to fight this even
though you may be in the right based on recent circuit court decisions. i think they have a case. i think they have some might here. are they going to have the guts to follow through? stuart: thanks. now this. the netflix employee at the center of the dave chapelle protests just resigned and's dropping charges against the company. we have the full story for you. major cell phone carrier delaying the launch of 5g wireless service, there is concern that he could interfere with aircraft electronics and safety equipment. ashley webster has that story from florida next. ♪♪
the holidays with you are looking at st. louis lambert international airport, on a bright sunny day. 2.1 million people boarded planes monday, the tsa screens 2 million passengers each day for the last 12 days, travel is picking up. millions are preparing to travel for thanksgiving and the faa's warning 5g networks could interfere with an aircraft safety equipment. ashley webster is at orlando sanford international airport. explain this. ashley: i'm not a very good engineer but i can. the problem or the concern is the 5g high-speed technology which will be broadcast on see band spectrum, the same band the airlines use for sensitive electronic devices and the concern is it could interfere perhaps with those signals
causing a safety problem. earlier this month the faa put out a bulletin saying, quote, the faa is currently conducting a risk assessment to ascertain whether further investigation is warranted. at&t and verizon were scheduled to launch their 5g networks 12 days throughout the day december 5th but they agreed to delay that launch until the early part of next year. verizon telling foxbusiness, quote, it was a good gesture to allow the fcc and faa to work out their differences but we fully intend to move forward with our plans to launch 5g sometime after the new year. it should be pointed out there is no evidence 5g does in fact interfere with anything in the fcc is a little upset with the faa saying that agency had over a year to look at it but experts say the keyword is safety. take a listen. >> there is no hard evidence
there will be an interference problem in aviation but because the potential is there, you err on the side of safety because it could happen if there is a problem. stuart: ashley: when you get on a plane, they say turn off your phones are put it in the airplane mode, they say the risk of interference from 5g is far greater so this would apply to turning your phone off on the plane but the fcc says 40 other countries of launched 5g and had no problems with any of the aircraft or anything else so bottom line is if you have a smart phone with 5g and you have at&t and verizon you have to wait a little longer to get that high-speed data. stuart: understood. thanks very much indeed. have a great thanksgiving, good to see you. the cdc director is suggesting adding one more tradition to
this year's thanksgiving gathering. a rapid covid test. are you telling me, the cdc telling me when i invite guests into the house the first thing is stick something up their nose to see if they stay? >> that is what they wrote them i wrote it differently to set the stage. 48 hours from now, stu's thanksgiving table, can you pass the stuffing and can you pass the rapid covid test, the norman rockwell portrait they want to paint this year, families planning large gatherings should at a next a layer of protection and have everyone take a rapid test. that suggestion, you are not serious, drew criticism from some medical professionals who warned about the high rate of false positives or false negatives. is anybody going to do this? stuart: i don't think people are listening to this advice about what to do on thanksgiving. people will get together at the dinner table and have a good time. that is what is going to happen.
two years into this thing. >> i am picturing the norman rockwell of stewart. stuart: out of the country. thanks very much. check the dow 30, going to get a sense of the market, more winners than losers among the dow 30 in the dow is up 26 points at 3600. harry potter author jk rowling claims she was d o x by activist actors, being intimidated for her views on trends people. jason rants will take that on next. ♪♪ when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary.
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what is going on in seattle? hate to say this but have people come to their senses? >> so far they have. we will see how long it lasts. obviously the voters said they were not happy with the defund the police movement, didn't stop the council to further this defunding moment, they cut 7 million from the sbd budget. we will see from the voters they want to see results nearly immediately which is not fair to the incoming mayor who says he will handle the homelessness crisis or and davidson, who will turn things around that quickly. all eyes are going to be on december 7th, a special election with the potential recall of the socialist city councilmember who put seattle on the map for leaning farther to the left. we will see if that happens.
it will not be easy to recall her. the district put her in office several times. we will see how it goes. if that were to go through and she were to be recalled that is significant and does sent shockwaves. stuart: she is a socialist and she did start it all. if she's recall that is a big deal indeed. separate subject. harry potter author jk rowling says activists theohxe the her, intimidation over her views on transgender people. >> we will see more of this because folks on the left said this is a reasonable strategy. normal people don't believe this to be reasonable, to show up to someone's house with the clear intent of intimidating someone, bullying them into silence. we see this strategy, i am currently in london, it has
been in the united states for a while now, protesters in the blm movement and antifa showing up at the doorsteps of politicians who believe this is the way to get people to stop saying things they happen to disagree with was an equivalent of the heckler's veto at a speech but it is clearly more dangerous. what is the intent of this if not to bully someone into silence? say jk rowling doesn't stop holding her mainstream positions on transgender issues, then what? you are putting out the address on purpose. what do you think is the next step? the implication is the potential for violence and hopefully we don't want that to happen but that's the direction we are taking us and more people on the left are engaged in the strategy, they call this out before it gets out of control. stuart: what are you doing on london on thanksgiving week? you are an american and they don't celebrate thanks giving
over there. >> they celebrate black friday. i come for the black putting. i love it. stuart: you know what black putting is? >> i do know what it is. people don't google it this early in the morning, might be creepy. >> a sausage made of dried pigs blood. that is what it is and goes great with a full english breakfast. it is thanks giving week. come back soon, see you again later. the netflix employee at the center of those dave chapelle protests has resigned. lauren: the netflix employee at the center of those protests is resigning, and unfair labor practice charge filed against the streaming giant. in it they accuse netflix of retaliating against them for organizing a comedy wide rock out over chapelle's special the closer which includes trans workers including homophobic content. they resolve their differences which in attorney speak means netflix likely through a lot of money and some to get them to go away. the ceo didn't believe chapelle's stand up crossed the line.
he backtracked. talking about cancel culture. stuart: money sells a lot of things. you can get paid to sit on your couch and watch christmas movies. the website reviews.org, 25 christmas movies in a 25 day timeframe. are you have to do is write a review about each movie. whoever gets the job will get $2,500 and a free year-long subscription to several streaming services. lauren: might as well fly and get paid. i love christmas vacation, elf, wonderful life, don't sleep on fred clause, brian kilmeade, mike favorite christmas movie. we won the best is scrooge, a christmas carol, charles dickens. i always burst into tears when scrooge finally sees the light and understand what you can do with all his money.
>> my dad likely alastair sim version. stuart: i'm not that technical. put it on the screen and i will watch it. hold on. the trivia question of the day. how long was the first thanksgiving celebration? you have to take a guess on this one and we will have the proper answer when we return. what do you think it is. wait until after this break. . .
stuart: it is a pretty good question. let's see what we got for it. how long was the first thanksgiving celebration? what is your answer, todd. >> both with the same answer, number two, three days. stuart: i agree with that. three days, sounds like reasonable length of time. they got it. first thanksgiving was in the year 1621. just over 50 colonists were there. most of them were men. i don't know why there were mostly men. >> number of jokes could get you in trouble. skip all the jokes and go to this. >> let's get to this. this is very special. a special birthday shoutout today. the lady on the screen is ruth pinella. she turns 104 years old today. she is the grandmother of one of our producers, christine ambrose. 94 years old today. we want to wish you an extremely, very, very happy birthday, todd.
what is the secret? 104? >> good italian living there. stuart: piniella, that works. happy birthday to you. hope you watch the program for a long time to come. you're a varney viewer. that makes you special to all of us, and to your granddaughter chrissie. david asman, what is secret to the great age you're at? david: i knew you were going to get that one in there. i was going to throw one your way. i i will leave it at that, being the gentleman we are. i'm david asman in for neil cavuto on coys to coast. president biden taking new steps to ease energy and gas prices but some are saying could make matters worse. plus the timing couldn't be worse. members of the progressive "squad" calling for more bail and prison reform after we're learning the wisconsin parade suspect was out