tv Varney Company FOX Business November 30, 2021 9:00am-12:00pm EST
maria: good advice. >> my new nephew two months old, liam laughed at all my jokes. i am just that funny. maria: an audience of one. it has been great being with you. "varney and company" begins right now. >> i'm lauren simonetti, stuart will be back tomorrow. it looks like another rough day. futures sharply, the current vaccines are likely to struggle against the homework on very ands. it is down 260. the nasdaq is down 36.
this is the last day of november. the s&p and nasdaq, things can change today. the 10 year treasury down 7.2 basis points at one.14%. oriole is selling off by 3.5%. the crypto currency, bitcoin is up $200.58,670. president biden says lockdowns are not needed to curb the oma cron variant, new covid cases of started to come down again down 4% in the last two weeks according to the new york times. jay powell is warning the new variant could risk employment and economic activity adding
more uncertainty, janet yellen testifying for the senate banking committee at 10:00 am. lots to discuss. "varney and company" is about to begin. ♪♪ lauren: the latest read a case shiller it, jumping one.one% on an annual basis, a bit slower than expected in september. let's check futures once again because we had a respite after a major selling we saw friday. the dow gained 250 points a far cry from the 905, the s&p and the nasdaq were higher. all 3 major averages down between a 12:45% if you look at
the tech side and 0.8% if you are looking at the blue chip average. ed, good to see you. oma cron is a worry for investors but there is so much we don't know so what changed from yesterday? >> it is unknown unknown. a lot of questions whether this is going to be as bad as delta was and if that is the case we can deal with that, there is speculation it might be worse, the vaccines and therapeutics might not work but nobody knows anything for sure. what we know for sure is we dealt with the alpha, beta, and delta versions of the virus extremely well. we saw the drugmakers came up with both vaccines and therapeutics very quickly and i think they would again. the experience with lockdowns, they create havoc for the economy.
if we don't get the lockdowns or severe restrictions on mobility i think the market continues to move higher after some volatility. lauren: we have to deal with this forever. waiting for the data, investors get this volatility and up and down every day. >> in 2009, i've been keeping a diary of panic attacks, the most panic prone bull market and that makes sense. the stock market, major decline back then. and on the other hand, and the fundamentals upset these
panics, >> >> he is very concerned about inflation. he's issue in now and got the nomination and awaiting confirmation. does he have the political freedom to clampdown and inflation by accelerating? >> i think he will play it both ways. on the one hand and on the other hand he will be a 2-handed economist and what he is going to say as we are concerned about inflation or monitoring it and as a result we are tapering purchases of bonds, and start raising interest rates in the second half of next year, this relationship between tapering and raising rates. not asleep at the switch, and
then talk about the new virus variance, that the concern. what it does is leave the market to conclude it will not continue at a faster pace and still looking for two or three pieces of the fed funds rate which is a surprise. lauren: you don't think he accelerates the taper and wait this out. do you think the jobs report will do that? >> the jobs report could be strong, unemployment claims the week of november 20th dropped to 199,000. it dropped below 300,000, the labor market was getting back to normal much more quickly than the fed might have expected.
i would not be surprised by a blowup report on friday and that would be a good thing, good to see people getting employed and we have to watch the wages very closely but i don't think the fed chair is going to change what the resident will change the current pace of tapering based on the development of the variance. >> that might be what investors are nervous about at 9:00 eastern time. thank you, good to see you. primary testing shows covid antibody drugs from eli lilly lose some of their effectiveness against a cron. let's bring in doctor mark siegel, good to see you. how much do we read into the development that not only are the vaccines maybe not able to keep up but our arsenal of treatments against covid 19 might not keep up? >> i will parse that out. it is not surprising that the antibodies which are directly
targeted on spike protein would diminish if there's an issue of a lot of mutations is a fear word. but overall the spike protein hasn't changed much even with all these mutations and i expect the vaccines to work. i think they may work a little bit less but i think they will work. we are in the middle of testing in the united states in a very exciting way. taking the spike protein from oma cron and putting it on a pseudo-virus like a robot and testing it against serum of people who are vaccinated, we will have that matter in a days in major medical centers and i expect we will have coverage from the vaccine maybe not as much which will be a good reason to get boosted right now. one thing that is surprising that i do to bring to your attention is you have the merck drug coming out and that will for sure not diminish no matter what variance it is. there's been recent data, a little disappointing but merck
is down, and pfizer and moderna are down in the moderna ceo, there is concern about the vaccines and unless there's information i'm hearing, i'm hearing from medical centers, we don't know the answer to that but looks promising. lauren: we don't know the answer. we are waiting on this data. it will take two weeks, yet you and the cdc are reiterating all adults get their booster. i got my booster shot over the weekend. what i said and what pharmacists said another people waiting for their number 3 shot said, is this effective against oma cron? should the messaging the get the booster? if it could hurt the credibility of the people that are saying that. >> great question and it is counterintuitive but the answer is yes. the more immunity the better if you don't have 100% protection. if i told you pfizer gives you
60% protection you would want to maximize that. you wouldn't want it to drop to 20% because you hadn't been vaccinated six months ago. the more this is an issue the more recently you want to have been vaccinated. i to be clear, get your booster now is the answer if you have been holding off especially if this ends up being a predominant variant which is still something we don't know. early signs from south africa look like it is quite contagious but i keep hearing from my sources on the ground that it is my order, that is not actually leading to as many hospitalizations as delta and the bigger problem in the united states is still delta, the vaccine working well against delta, 95% of you boosted. get boosted. lauren: let's say this variant from south africa is more transmissible but milder so therefore it infects a lot of people, does that give us close to herd immunity?
that would be the positive. the negative, in getting there, we do get another lockdown because masks might becoming back to new york city. we have a mask advisory from mayor deblasio reckoned everyone wear masks at all times when indoors or even in a public setting even if they are vaccinated. >> with a points. if this is a milder strain and it ends up predominating and outcompete delta these viruses compete in a way, if this variant out competes, you see a milder form of the virus predominating, it was 1920, that would be phenomenal and in terms, it may happen, superimposed lockdowns and restrictions and masking all of those are political moves, not medical moves. in new york city, 95% of adults in new york city are vaccinated. what message are you spending? you want to wear a mask as a
precaution in close quarters if you are not sure but the chances are low of your catching it that way if you are vaccinated. you can't send these mixed messages and lockdowns, we've shown the tremendous harm lockdowns of cause. a new study shows harm to children that lockdowns caused psychologically and physically. lauren: the frustration really comes in because we keep saying there is a rollback on some of these restrictions but when it comes to masks in school, my children are wearing masks in school, are they going to be wearing masks forever? people are frustrated and looking for answers that might not exist. >> the masking in schools cause a lot of harm in terms of socialization, with your kids, with other kids. i'm a big fan of testing. i have been pounding on that,
if you have a rapid test in your home, test your child before they go to school a couple times a week. much more predictive than a mask. lauren: wash your face, brush your teeth, do your nose swab, go to school, thanks for the time and the perspective. >> brush your teeth. lauren: three times a day. the market is down but not sharply, the dow is down 281 points. the bounce back it got yesterday after the friday, 900 point decline. cnn anchor quiz cuomo claims he's not an advisor to his older brother andrew cuomo. roll it. >> i am not an advisor. i am a brother. i wasn't in control of anything. i was here to listen and offer "my take". lauren: damning new evidence shows otherwise. we are all over that story. covid, a new record high in new hampshire. what will the state do about it? i will ask chris sununu after
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missouri-based federal judge is holding the federal vaccine mandate for healthcare workers in 10 states. in arkansas, i, kansas, nebraska, new hampshire, north and south dakota. as well is wyoming. the judge keeping the rule leads to staff shortages. and they will not face a serious punishment this year. they will face removal or suspension. hospital suspension in new hampshire hitting the record high over the weekend. good to see you. will you be imposing any new mandates or restrictions in their state.
>> >> >> breakthrough increasing as well but that is the tool to get out of it. the mandates and all that from 2020, we barely had ppe and testing. it is up to focus to keep that to protect themselves and their families. we are not looking at further mandates in new hampshire. >> what is the vaccination rate? how many are fully vaccinated? >> number 10 in the country in terms of vaccination when we are driving the top in the country but at the end of the day it's not just about vaccination rate, not like it a certain number, you get 73% and you're in the clear that is not the way this virus moves, you need everybody to get vaccinated and make the choice. it has to be their choice, a
decision for themselves, we drove on the lawsuits to fight back against the biden mandates. one was a huge victory yesterday. they were going to close if that biden mandates stayed in place. imagine nursing homes closing, loved ones not having to care, we are short staff across the country. these mandates have a powerful and negative effect. folks have to make that decision and get vaccinated. lauren: take a look here, a new poll shows you are the fourth most popular governor in the united states of america. why not make a run for senate and take the seat? >> winning was not the issue at all. you can effect change, stay connected with your
constituents, and implement new policies. sometimes not getting anything done, that's one of my frustrations. every day i can make a dozen impactful decisions, you see that during the pandemic. the ones that were driving the effective change. everyone realized this whole federalism thing is a good idea when states are in charge and states are in control, that's where you have the most positive impact. not my style in dc. >> you are seeking a fourth term. don't you think you need to do dcm play politics. >> i don't like playing
politics with it, it is a fundamental difference. they want to stall, and we blow up and rebuild the system. and we've done all these wonderful things but you have to implement, design those symptoms, bring in the right people, design the systems, talk to the parent and the businesses, figure out what is working and what isn't. i love this stuff in terms of public service. lauren: it apparently let's you. let's check the markets this tuesday morning, the dow down 260 points, 6 minutes and 30
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>> let's look at tuesday, 4585 a pop up slightly in the goal today, jack dorsey stepping down as ceo of the company he cofounded. he released a statement taking a dig, this is what he said, quote, current many companies, the choose their company over there you go. it seems like a reference to facebook's mark zuckerberg. and and and he has put parada in charge of the ceo of the company.
and the things he loves today which is really good into the crypto side. >> he will do that effectively? >> taken a lot of steps, he made bitcoin a reserved asset, 1 million people trading with crypto currency's. to support crypto currencies and open standards of what crypto currency's are about to do. >> >> the cto, made some comments in the past that he is more about protecting the safety if you will in the public forum as opposed to the first amendment. do you expect him to, let's say, allowed donald trump back? >> it is part of the san
francisco culture, make the public square public, that is part of the culture inside twitter. and culture. >> the culture is how do they increase, and twitter shares struggle, and "the opening bell" is ringing. and the s&p and nasdaq. it is walgreens, they are up a nickel. it is down 2% and the dow itself, 290%.
and the s&p 500, and the nasdaq is doing the best of it. and and as the 10 year yield go down, the moderna ceo, this spooked the market. what did you say. >> going against pfizer, talking about the effectiveness of the oma cron variant was moderna's ceo saying the current vaccine won't be as effective, may not be ready that soon.
the ceo saying it is antibody cocktail doesn't mean as effective against the new variant, some off in both stocks. they are a bit more optimistic, 100 days and already working on it. depends on who you believe depending on the vaccine maker. lauren: they can tweak this really fast but march is far away. less than 100 days with the remarkable. they are rallying on this oma cron news. it delay the return to normal. >> talking about concerns a fresh lockdowns, stay-at-home winners, we had them up in the premarket, telethon and zoom getting an update which is why was up in the premarket.
it is a binary trade, forced to stay at home or go back in travel once again. a binary trade, travel is down, the recovery rally didn't last that long, you benefit from the lockdowns if they are shutting down restricting travel. lauren: a crime could delay the recovery for the airlines by a year. >> at least i would say. it is a binary trade and depends how many cases, it depends which vaccinemakers, square is getting an upgrade the day after you had jack dorsey quitting at the top of twitter and bank of america so the squares with $241 million
and that will benefit twitter hiking price targets to $79, bank of america said the best thing is for jack to step away at twitter. the ceo at square and twitter. back to broader markets. we heard from jpmorgan, they are sounding very bullish where stockmarkets go 9% for the s&p by the end of next year. jpmorgan, goldman sachs predicting a solid year of gains regardless of any variants, doesn't seem too severe. >> there's going to be a variant. and vaccines and treatments. and
>> talk to me about dollar tree. >> getting too expensive, raising their price targets. >> more expensive in terms of the fact that one dollar and 25. >> with spending and maybe a drop in foot traffic. roughly the same in 2007-2008. there has to be a little bit a catch up. lauren: some until the the dollar store got to lead to more expensive for the. 25% more. both ceo of microsoft is selling off a large portion of his shares. how much is that? >> never good side when insiders soap, what do they know that others don't about the company? especially at the top, the ceo selling more than a quarter billion dollars in microsoft
stock, half of what he owns in the single largest, only took two days to unload and that might be to taxes, we know there is a washington state tax or capital gains that might go to 7% for any holding over a quarter of $1 million. like elon musk, selling 8 or $9 billion in stock to raise cash to pay their taxes. he might be trying to get ahead of this because if you pay 7% more, $500 million is a big tax bill. lauren: let's look at the dow winners today, there are just two, salesforce.com and apple, tech is doing better today. interesting to watch. they are up ahead on earnings. the s&p is green on the screen. tyler technologies, tesla at 1153.
netflix electronic arts, you see tech names do well and let's take a look at the tech heavy nasdaq, the winners there, biogen. >> it is the position that i have to go this way to say it. let's move to the 10 year yield, the dow is down over 300 points, the 10 year yield flight to safety down 5.8 basis points at one.44%. flight to safety of $13, $17.90 a troy ounce, bitcoin up at 58,000 but 145. this is a big selloff almost down 4%. we are seeing lockdowns and restrictions internationally and that crimped demand for the, not a the. natural gas is down in a big
way, 7% at $4.51 per british thermal unit. >> not good for homes to heat at a cheaper rate. very volatile but has come up a lot recently. the price of a gallon of regular gas 339 in california. 471. remember the laptop from hell? hunter biden tried to deny it. >> is that laptop yours? >> i don't know. the serious answer is i don't know the answer to that. >> did you leave a laptop with the repairman? lauren: miranda devine has look at her book laptop from hell in the next hour. kyle rittenhouse was found not guilty but some arizona state university students say he is a, quote, violent bloodthirsty murderer and they want him out of school. what risk does oma cron pose to
our economy? jay powell is set to answer that question in a few minutes on capitol hill. we will take you there right after this. ♪♪ zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity.
support him initially in 2018 when he was confirmed. expect targeting questions from those senators but we get a peek at what he is expected to say along with janet yellen today, how is going to paint an ominous picture of the state of economy due to the new oma cron variant. if a cron does prolong the pandemic it to keep prices rising in her job growth and make the supply chain even worse. taking notes from the blow the delta variant did in the summer to the us economy as it stoked more fears and concerns and impacted consumer confidence. we will hear from yellen who will continue to pressure congress to act on the debt limit which would evince our rate the recovery of congress doesn't do anything by december 3rd which is considered the x date of when the us will run out of money but will also say the recent rise in covid 19 cases and
emergence of the variant adds increased to economic activity and increased uncertainty for inflation. greater concerns about the virus could reduce people's willingness to work in person which would slow progress in the labor market and intensify supply chain disruption. the headline from this is powell sees at this point oma cron could be a very serious threat to inflation, that americans are experiencing right now and that could extend inflation issues well into next year and possibly beyond depending on how long oma cron sticks around, how bad it is and how much impact it has. lauren: you know what extend inflation? build back better. larry kudlow is with us now. what are you expecting to hear from powell? if he's worried about inflation, does he kill the bill?
>> he won't. they should in general, this advanced stuff from powell makes no sense at all. there is no emergency, with the health assistant secretary at hhs, we talk to scott gottlieb, marty markcarrie, all of them reminding us that we are about 92% herd immunity between those recovering from covid successfully, natural immunity, those getting the vaccination. out of south africa health official down there, there is a mild issue, it may spread but if it affects people in a very mild way less then original covid.
the fed chairman, he is not the health department in the white house and his issue, my view, the biggest threat to the economy is inflation. the cause is too much government spending starting last winter and too much money created by the fed. powell says this inflation will go into next year. that is what yellen has said but therefore we should not have any new bills of social spending and high taxes. one would increase demand, taxes would reduce supply, that's more inflationary and the fed has got to battle up and stop buying bonds, end quantitative easing and get folks ready for interest rate hikes to fight inflation in january and if i am wrong, if the exports, if it becomes more
of an emergency, if if if, the fed can deal with it. the early returns are that this is a mild problem, not worthy in my opinion of the federal reserve getting easier or looser. they are the principal cause of inflation and inflation is the press because of the economy. lee you lauren: the market said rates go up let's say june and you are saying they should start the campaign to raise interest rates to combat inflation in january next month. >> yes. exactly right and they should stop quantitative easing, no more bond buying, immediately like next month. you had this huge increase in the balance sheet of the fed and the money supply.
you can have inflation at 6% or 7% or 8% unless the fed was financing government spending and in general financing price increases. this is crazy. this is a risk of 1970. powell who is not a doctor, the fed is not a health department, right now even president biden is saying know lockdowns and no emergency. that is the head scratcher. stuart: stay calm and carry on his what the president said yesterday. you don't want to miss larry weekdays at 4:00 pm eastern. every day on fox business, not just the currency of the dark web anymore, crypto is mainstream. we will take you to the soon to be renamed crypto.com arena in los angeles. ♪♪
woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. lauren: increasing politicians and slavers are getting paid in bitcoin and other crypto currencies. kelly oh grainy is outside the
crypto.com center. it doesn't roll off the tongue yet. >> a trendy investment, the alert is the cool factor in getting in on the ground floor of the next big thing. the iconic staples center behind me is about to look different. people want to be paid in crypto. aaron rodgers wanting to take portions or all of their multimillion dollar salaries, and republic became the next major artist to be paid that way and eric adams wants his first 3 paychecks in bitcoin and to legitimize crypto currency, to give the average investor confidence the currency is credible but a lot of questions about how crypto is a digital currency, bitcoin is the most popular but is
decentralized. instead it lives on servers across the globe. it is hard to control and that made it popular on the dark web and with no source managing the money supply there are no stains -- exchange rate relation concerns but some critics question whether these endorsements are dangerous to the average consumer others say there is opportunity if you educate yourself. >> the strategy behind an investment is to treat this as an educational opportunity. as much as you invest in teaching your self, buying some new program that is as much as you should put into these alternatives. >> patrick told me you have to be willing to lose what you invest because crypto currencies are volatile but they made money and can afford to take the risk but for the average investor there may be some opportunity but do your research on the trade-off.
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ask your healthcare provider about nuplazid. ♪ ♪. lauren: good morning i am lauren simonetti and for stuart varney today. it is 10:00 o'clock eastern but get straight to the market stocks down after moderna ceo said the current covid vaccine are unlikely to be as effective of the omicron variant. take a look at the nasdaq it just turn positive it is up 11 points. let's take a look at big tech moving on the nasdaq. your green arrows for google parent company alphabet as well
as amazon trading at 3575. we are seeing a flight to safety and the ten year treasury yield down 6.4 basis points at 1.43%. as stocks get better and the nasdaq turn positive we saw treasuries get a little bit. this morning getting the latest readout consumer confidence. jackie deangelis good morning. >> 109.5 this is not a very encouraging number because estimates were up to 111. last month 113.8 to give you context. i'm not surprised because consumers right now are edgy. they go out they can't find what they need. i think everybody is in a holding pattern of not knowing what's going to happen. and uncertainty is hanging on the marketplace then you have the biden of modest ration policies and more people digest them and think about them and think about the supply chain and understand inflation and the confidence is not there.
lauren: the policies are showing up under the christmas tree. up 124%. that is something that people see when you place your order on your phone for something. also jan yellen is fed chair, jerome powell getting ready to testify before the senate banking and housing urban affairs committee we will monitor what they say and bring you any news that comes from it. it all begins right now 10:00 o'clock eastern time. twitter ceo jack dorsey stepping down. he'll be replaced by the company's chief technology officer. republicans warning that censorship may worsen under the new radical ceo. this is the new york post op-ed says the media helped hide the real joe biden by censoring hunters stories. the author of that piece is miranda divine. she joins me now, good to see you thank you for coming on. let's talk about twitter and the new ceo.
do you think he will let donald trump back on the site. there is a permanent ban on donald trump on twitter. >> i doubt it very much. i think it's a case of being careful what you wish for. jack dorsey presided over a twitter that has so much power that it was able to join with big tech to the rest of big tech, facebook and google and so one to ban the president of the united states to block incentive the new york post story about hunter biden's laptop before the election. they have put their thumb on the scale in a big way and i think jack dorsey is stepping aside will make no difference. in fact his replacement accused to be openly partisan in some sort of a radical he has tweeted in the past white racist and i
don't think that's a good environment for anybody, for america or the world because this is a global phenomenon. i think the fact that the new york post account was locked for two weeks before the election last year because twitter did not like the fact that we were running stories that were critical and contained critical evidence about one of the candidates. it tells you everything you need to know about the dangers of this power going to the big tech platform. >> it's much more than letting the former president back on. the new ceo of twitter says our role is not to be bound by the first amendment but preserve public conversation. the scarce commodity today is the tension. he very much sees the company in charge of monitoring how often and how what people see and like you just said that includes not
letting them see the hunter biden news. your new book is just about that, laptop from hell is out today. congratulations. >> the laptop from hell is a distillation of my deep dive into the laptop. thousands of documents and e-mails. we have reported starting last october and a lot of the stuff in there. there is so much more and it paints a picture of joe biden as someone has used his influences family not just in america, he began in his senate career but internationalized influence peddling program around the world. particularly that leads to national security problems for america. we are compromised with president biden when it comes to china, russia and most
importantly other countries around the world. we know the evidence is there and joe biden lied to the american people during the election campaign when he said nothing about hunters business dealings. we have evidence that he met with joe biden when he was vice president with the business partners from mexico, russia from china from kazakhstan, ukraine. he meant them in his vice presidential residence in washington, d.c. he met them in beijing and café milano and washington, d.c. he brought them onto air force to. there is no getting around that not only did he know about hunter biden and also his brother jim biden business dealings and influence peddling but he was also intimately involved.
lauren: the book laptop from hell, miranda divine, congratulations. >> thank you so much. lauren: let's go back to the market shelley scott. good to see you. the dow down half of 1%. there is the future of how our investment depend on our response to omicron.. is that what this is about or is there something more. >> is a worried responsible to administration is going to do about omicron. there is a lot more letters in the greek alphabet. we will have to get used to this every six months. our psyche has got to get over the fact that we will eradicate any type of virus. they will mutate and we have to mitigate. what i think the markets are worried about how to have the chair, the fed come out and say this is going to cause inflation and damp down the economy when we down that path before we had omicron break. that shakes everybody to the court.
that does not make any sense. this administration doesn't make any sense because her telling you not to believe your own eyes. i read an op-ed of things that are happening don't believe what you read, don't believe what you hear but now you're not allowed to believe what you see. this is a dry combination of all those things coming together. sooner or later the american investor is going to get over the fact that this will keep coming out every six months and we will have a much more normal trade rather than a knee-jerk reaction to what the administration might do to combat, were not quite sure but every new greek letter. >> we have the president say yesterday that were concerned, stay calm, there won't be any lockdowns. do you believe in? >> i don't think the market believes him we will have a vaccine mandates either. does anybody else not see what i'm seeing. the very fact that he holds a press conference means there is reason for concern with him.
i'm going to get up and stand up in front of the entire country and talk about this but don't be alarmed. it doesn't make any sense. if there is nothing to be alarmed about there would be a memo or a tweet. he's in front of a podium saying everybody is relaxed. doctor angelique down in south africa. we've now banned six or eight african countries from traveling to the states. they can fly to mexico and walk across the border by the way. when you see things like that that make no sense. that's what the market gets worried about all these administration policies that make no sense. that's what you see the market react the way it does is not really worried about omicron per se because we will have a lot more. it's just the reaction is what the market reacts to. lauren: scott somebody, thank you very much. >> rising oil prices are here to say. how high do they predict prices
will go. i don't like filling up the gas tank. >> j.p. morgan essay by 2023 always usually priced at a premium to wti which is a domestic oil that we produce here. we say this going to be $150 a barrel but by 2023 they're saying is a demand driven story, the demand is good becoming and moving higher in omicron variant is overestimated by the markets and everybody else right now because we don't know is much about it but once it comes into circulation things will come down in one of the big supply issues is what's happening here at home previously oil prices wti down to 67. they have come down a long way. they should've the prices of pump, they should up so fast it takes so much longer for them to come down and adjust to the new price. >> is taken escalator up in the
stairs down. >> the next one nissan is investing more money to develop electric vehicles because gas prices are so high. >> i think what happens here the gas prices go up and makes electric vehicles look a little bit more attractive because the cost per mile is so much higher. you tell the american public this is much better even though it's going to cost you more. having said that nissan is announcing 18 billion-dollar effort to electrify. to have the leaf model. they will be investing the money through 2030. they would develop 23 electrified models. i'll give you a sense of the target that the looking at here. they want to see a mix of 40% of their vehicles being electrified in china and the united states by 2030. that is not so far away. the other thing the company is setting a target of 2028 for
deployment of state batteries that will help bring the cost down, the charging times and the things that people complain about. lauren: american say all by an electric car with the batteries are made here. thank you. cnn chris cuomo claimed he did not advise his brother andrew cuomo amid sexual misconduct allegations. roll the tape. >> i never made calls to the press about my brother situation. i'm not an advisor, i am a brother. i was not in control of anything. i was there to listen and offer my intake. lauren: investigation is telling a different story. we have the details for you. president biden abruptly postponed his remarks on the supply chain crisis to push vaccine, boosters and masks to combat omicron. rotate. >> where your mask when you're indoors in public settings around other people. if you are vaccinated but still worried about the new variant, get your booster. if you aren't vaccinated get
that shot. >> ronna mcdaniel say americans know who is to blame for the rising prices you see everywhere. she is on the show right after this. ♪ what's strong with me? i know when i'm ready for a rest day. ...so i can be ready for anything... tomorrow. find out what's strong with you with fitbit sense and daily readiness. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.
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only 32 degrees. the market is chilled, the dow jones industrials done 227 points. the s&p is down a third of 1%. the best performer is the nasdaq higher by 22 points. the federal trade commission is asking amazon, walmart and other retailers how they have been handling the supply chain crisis. jackie, i cannot believe the story when i heard it. >> look at who they're targeting their targeting companies that handle the supply chain crisis pretty well and got us the things that we need tour homes. amazon has revolutionized things during the pandemic but it's almost as if they're insinuating that perhaps these companies are doing something nefarious and getting us products and redesigning their own internal supply chain. the inquiry is to look into what problems there are leading to anticompetitive behavior, higher prices that we've seen. the biden administration blame
the consumer for the supply chain crisis and inflation that we want to much stuff and were ordering too much stuff. that's why the prices are going up rather than looking at ourselves and seeing we've created a problem driving the prices up. >> the other blaming the companies trying to help them. lauren: it is unbelievable. now you have the federal trade commission investigating that private sectors role in some of the supply chain problems. edward lawrence is at the white house. as we were saying the white house points the finger but should they be pointing the fingers at themselves for the policies that they are setting? >> the white house is literally blaming everyone they can think of for the economic failings that are happening in the economy. the president campaigned on bringing back the economy. what we have a 31 year high and inflation, supply chain issues that you outlined as well as the white house blaming private companies. the president keeps going back to the fact that he got ports to
operate 24/7 but will check drivers are needed to carry goods away from the ports. the trucking association pointing to the vaccine association that they want to keep people away from taking those jobs for the president also said to investigate price gouging and gas industry to lower gas prices. then the administration to increase cost and add more drilling. small businesses see box stores favored by this president. listen. >> everything this guy does has been counterintuitive to what is helped small business. we need them to stop helping. i was happy to hear that he met with sc yesterday which is the website of makers but meeting with cvs and other large businesses. how was i going to help small business. >> are cameras caught up with the ceo after the meeting. listen to this. >> i speak on behalf of 5 million small businesses.
we think having a transportation system is really important, it's a coastal system we talked about the importance of the united states coastal system to the sellers. >> the bottom line, the white house is saying in the white house policies don't quite match up. lauren: edward, thank you very much. no they do not and ronna mcdaniel the rnc chair is with us right now. you heard edward's report. you say americans know who is to blame for the inflation that were seen everywhere. who exactly is it in my follow-up for you, yesterday the president was supposed to have a press conference after he met with the retail ceos and he abruptly canceled but he did not set it for today it's tomorrow. what is the problem, is there a cover-up and who is to blame. >> biden has not been one to ever face his own failures.
he's never taken responsibility when it comes to afghanistan or the border that he won't visit and certainly not inflation. they pay people to stay out of the workforce. they cut off our energy supply which is causing gas prices to go up. they're ignoring the grocery stores are empty and small businesses are closing because they do not have the workers and it's definitely the middle of the country. joe biden this is because of you and your policies that are hurting this economy. trauma passed you a baton of a vaccine and a great economy in europe squandered that by not understanding how the economy works. on top of that they want to put more money into the economy instead of dealing with underlying issues that they are causing so many hardships for the american people. lauren: what you expect the president to say tomorrow when he gives a press conference on the supply chain conference. >> you to be a blame game, blame everybody else but him instead of saying let me talk to small business owners. i talked to restaurant owners in
my area, they say we are devastated. we cannot find people to work. one has 50% capacity on servers read we are burnt out, we can't get people to come work for us. everybody is exhausted. businesses are closing think about the small business owners, their dream is their business and now they have to shut it because of the biden administration and they're putting their head in the sand. lauren: were seen all over the country. we all have our stories. the next question i have. if you look at the top states with the highest number of covid-19 infections. they're all blue democrat states. but take a look at the bottom side. we seen it flip republican red states, what you make of this. >> i think it's funny how quiet the mainstream media has gotten. they were after ron desantis, governor abbott and attacking the republican governors but now there at the bottom in its
democrat governors at the top. what we know the top 20 states that are leading the economic recovery, 17 of them are run by republicans. they follow the science, they kept their kids in school. they listen to the parents and the kepler economy open and they're doing well and the numbers show that the virus counts are not higher it's actually democrat states that are having higher can. lauren: polling has shown that joe biden does well when it comes to how he addresses covid. then we reached the point where they didn't really work out for him, now it seems like he's trying to lead again we heard them say yesterday stay calm were not going to lockdown the nation. what can he and what should he say right now to call americans concerns. >> he needs to stop putting americans against each other. vaccinated versus nonvaccinated. do your job and talk to the
people having concerns and address them. stop turning americans against each other in lead. he hasn't done that at any level he was given a vaccine right 82% vaccination but he blames everything on nonvaccinated americans. that is not fair you need to address our energy crisis and address is happening at the border and be real with the american people. americans are missing president trump and they really wish republicans were in charge right now. lauren: let me add two things may be go to the southern border or the california ports or perhaps both. thank you very much for the time. twitter ceo jack dorsey is stepping down. but the company's replacement is already drawing backlash from republicans over some past tweets that he sent. we have the full story coming up in the next hour. one ski community is benefiting to remote working. but soaring prices are leaving potential buyers and locals out in the cold. we will bring you to aspen,
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♪ ♪. lauren: that was clemson south carolina where it's sunny. the nasdaq hired just barely will see if it can hold the gains, it's down to into 73 points justin from the wall street journal the white house considering richard as the top fed banking regulator. in the vice chair of banking regulation at the federal reserve which means abide in a administration would have two more fed pics to fill. united health goldman sachs, american express you can see the trio there. all dow stocks down sharply they're saving about 95 points from the dow overall 228-point
decline. now this the covid variant concerns for the travel industry. we bring in jeff hoffman. this is possibly the second winter which is almost a lost season for travel companies. now it's because of the new variance. what gives what do these travel companies do. >> also you what the bigger virus we have to deal with is uncertainty. it's infected everybody, people reacted so fast to the new variance, 46 countries have already put in brand-new restrictions and we don't know anything about this variant yet. the doctors report that i've seen said most people showed only mild symptoms but the fear and uncertainty took over. thousands of travelers, six or seven african countries in the southern part of africa where
they believe it originated. their travel was cut off completely and thousands of people were stranded. lauren: does that affect domestic travel in the u.s. if you have family in california and you live in pennsylvania, you're still gonna do that for christmas, right? >> here's the thing people are not canceling their christmas plans but they're definitely worried. people are saying if this variant is going to be something that will cause a whole new wave of concern and restrictions of the u.s. maybe we shouldn't fly. people are nervous right now. that is everywhere, their nervous whether their travel plans in a few weeks from now are still going to be okay or whether the reaction to this variant is going to damage their holiday flights. lauren: do the rules change in the meantime? is there just one person injured vaccinated is fine you can be nimble. but if you have young children in the family and summer nonvaccinated and the rules of the road keep changing, your whole vacation is at stake.
>> absolutely some people are asking me will have to quarantine in some states again. are they going to bring back because of the uncertainty of this new variance. holiday travel is about family and big groups and it's way harder to be noble. this uncertainty is really making people uneasy. we don't know enough about the variant to decide if we need to restrict travel or change the rules. every time we think it's safe in the travel industry bleeds a little bit, something else happens. lauren: you think ranking comes back to any states domestically? >> from everything i'm hearing, no, i'm betting on no. i hope i am right for everybody's sake and everybody's christmas sake. i'm not seen people take those steps yet. they are internationally but not domestically. lauren: thank you very much. if you're thinking of a vacation this would be a beautiful one, aspen, colorado where prices
have soared over the past two years and sales have tripled because people have a lot of money. that's for were actually webster is. i thought you might be at on skis. >> why are people flocking there. >> it's cold but it's beautiful. when you have a lot of money the billionaires if not the millionaires have gone down the hill and someone. everybody wants to come here and during covid you could work remotely, you have the money. it's high living whether you want to have a high balance were well. there are two types of people in aspen those that have three homes and three jobs and nothing in between. biden going home shopping and in this home 5300 square feet. there about in the price i forgot it's about 12.9 billion.
i want to bring in and, welcome. >> hi, it is beautiful but i can't afford these prices and most people can. your realtor and you should get great commissions but there's very few places up for sale. >> we have one month of inventory. it's pretty astonishing what happens in the last three years. this home, $12,900,000 is a very high-priced property but not by aspen standards it's $2500 a foot. my colleague is russian, he had this listing and this will sell this winter pretty quickly. lauren: everyone at home saying who the heck, the average price is around 11 million for house and aspen. a town of 7000 people.
who can afford this. >> i think hedge fund people have moved here. eight years ago a lot of people had aspen properties in the second third home and now they come back in the living in those homes full-time. they are not sellers. private equity people, tech people a lot of tech people. were seeing people come, aspen is a global brand. people come from all over the world. lauren: what about the normal people, i say the normal people but the people watching at home, how do they afford it. lauren: you need to bring a lot of cash with you. you definitely have to have cash to make the deal. but in the valley we have a lot of product and some of the village has just been redeveloped. it is gorgeous, new inventory and all that stuff. it sold on 42 days. lauren: it is interesting, places and aspen, you think new
york is expensive in san francisco, they have nothing on aspen. i will not be buying a home that i'll be enjoying my time here. lauren: get the house we can ski to the mountain. good stuff, thank you very much. let's go back to susan li with a look at the movers today. we'll start with tesla. >> buttermilk is one of my favorite places to ski luckily ashley gets to be there right now. tesla reading interleaving s&p 500 of bullish vibe that you lawn musk is going to return to their needs call after elon musk tweeted this to bring this up, he said this is been such a supply-chain nightmare and it is not over. i will provide an update on the next earnings call. fingers crossed on that. i want to show where viewers coinbase a cryptographic security company called unbound security not sure how much, that was undisclosed but also
rallying from the fact that we do have a jump thanks to crypto currency price it. lauren: i was reading a headline jay powell said it's time to retire the word inflames a tory with it comes to inflation. it's going to cost a lot more money to buy your holiday gifts online. speaking of inflation shipping costs are being driven up by the rising price of wooden pallets. there used for every step of the shipping process. now you know but why has it become so expensive. we have answers coming up. ♪
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lauren: one of the leading contributors. lauren: the surging cost of wooden pallets. lydia hu. >> the problem is the scarcity of the wooden pallets. if you take these as an example, they are brand-new before the pandemic. it would've cost $12 a pallet. now the costs are pushing $21 a pound. it's about 560 the week, the higher prices are taking a pallet cost from about $37000 a week before the pandemic. now more than $65000 a week. >> i been doing this for 25 years, we've never seen anything like this at all. >> 90% of everything in the united states was shipped on a pallet. it's very integral of the supply
chain. we do a lot of work, were here seven days a week and were just trying to save christmas. >> here's a little bit of the insight baseball. there is a market for use pallets and new pallets and on both sides the prices are going up driven by labor costs in the prices of lumber. if you could take a look at your screen you can see the prices of new pallets are up 60% compared to before the pandemic and the prices for use pallets have doubled or some cases tripled. i'm hearing from retailers and these are going to have to be passed along to the consumer which is all of us. lauren: you learn something every day. thank you very much for that report. today is tuesday, giving tuesday we would like to highlight a nonprofit education institution. it's called workshops for warriors they focus on training
veterans for advanced manufacturing careers. the founder and the ceo and he joins me now. thank you for coming on. thank you for what you do. you been sounding the alarm on america's over reliant on manufacturing in china, make your case right now. >> i appreciate the opportunity be on your show. workshop for warriors is only accredited school in the nation that provides accelerated training for veterans in transitioning service members and we help place them at no out-of-pocket cost throughout america to rebuild the workforce. lauren: just bring all the manufacturing here to the u.s. and help our veterans do it. >> that is exactly right, what we are trying to do is make veterans of vanguard for america's manufacturing force to rebuild america re-claim the title of the superpower with the
help of the veterans that are honorably served our nation with you mentioned to the proper training and support which work workshops for warriors provides. since 2895% of our graduates are placed and retained in full-time jobs like space, but wait, tesla steel and aluminum with average starting salaries of $60000 a year after four months of accelerated training. this is something that can completely rebuild america and help us become the world manufacturing power again. lauren: you said it perfectly. veterans are mission driven. thank you for everything that you do. >> were looking for 20 scholarships that are $25000 each. looking to raise half a million dollars by december the 17th. if you can go to wf w.org. i know you and our viewers are a patriotic bunch. please rebuild our nation and make america number one again. go to wf w.org and help support.
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you know what that means brian kilmeade joins us right now. good to see you yeah me today lauren instead of stuart varney. >> that's okay. nobody has ever coin that you can make a lot of money, i know your business oriented, you could pat not make a lot of money. there's a lot of people that want brian kilmeade time. lauren: would you want to cut you'd be the source of the inspiration. eric adams is promoting stop and frisk, stop question and frisk
after the latest shooting that wounded two officers. is he the man or the best man that we have to make new york city safe again. >> i love what he saying i don't like that is what he keep the mandates in place, he's caused a lot of strike with police, firefighters, hospital 34000 mini networking new york city. hospitals have been told you're fired. i don't enjoy that but stop and frisk makes sense. i had a chance to talk to mayor bloomberg at the al smith dinner. he said eric adams and he had been talking every day. remember bloomberg took over for rudy giuliani and they criticized him for taking it too far and being too aggressive. he did not run for that when he ran for president. maybe he expressed to adams who knows what it's like to be a cop. but you better off you have to get ahead of this. you're just going to be reacting to these crimes unless you can
find out where the guns are and have a deterrent if you're caught you'll be arrested. the other thing you have to get rid of is a no cash bail. we saw the story on sunday one guy got arrested three times in 36 hours and bragged every time. nobody would stop me, knifepoint, stealing people, taking the beer, whatever it is it's chaos and less you get law enforcement. lauren: and get ahead of it as you said. the next topic is chris cuomo coming under fire as documents show he asked his brother's top aide to let him assist the team defending the former governor andrew cuomo. cnn said they will have conversation to seek additional clarity. you think chris cuomo can survive this? >> i'm so hesitant i saw so many careers blowup and do what we do and not make the mistake that they're making. this is what i say about chris cuomo, you basically didn't tell the truth to your audience. you said one thing and the
transcript says something entirely different. when she said they made it up or they typed it out that's not the way it was. unless he has an explanation, what he did last night is never going to work. ultimately as the answer to his audience in management but i get the sense of worse could be yet to come because there's more papers that could come out, freedom of information act will be enacted. governor cuomo, the disgraced governor has no allies even when he was governor they just fear them, nobody likes him. he has no friends. and chris cuomo is going to suffer because of that. i'm not sure how popular he is in the newsroom. i just know out of the prime time there sucking wind. we do better at six in the morning then they do at 8:00 o'clock at night which means homes with tvs on is about 70% lower in the morning is about 20%. the atlantic the liberal newspaper said that he's got to
go. how he survives this is up to their management. where is the pressure going to come from everybody's on the liberal side if it was republican or 70 deemed as a conservative commentator where he's clearly a lefty commentator, if it was a conservative the pressure would be enormous, boycotts taking place but it's not happening now because democrat and cuomo and it's up to zucker who hired him and put in there from the morning show and kept them there through the turbulence is are defaced and don lemon with the turbulence he faced. they seem impervious to it. lauren: maybe not anymore. if chris cuomo survives this, he can survive anything. >> look at who they already brought back. look at what they've done, how they look the other way with jeffrey toobin, that woody destroyed anybody else's career and credibility. he's commenting on these court
cases. lauren: brian kilmeade time go back to radio show. >> is it over? lauren: it's over, do we have a few seconds left. it's time so perfectly. see you in the halls is right. in jackie deangelis, thank you very much for dealing with me and keeping us up to speed on the latest stories. still ahead florida congressman michael walt, kennedy and ricker now all here in the white house press secretary jen psaki is defending the travel ban calling donald trump 2020 travel ban zeno phobic. you gotta watch this. >> the president was critical of the way the former president put out a zeno phobic to. the president has been critical of travel restrictions. we put those in place ourselves. lauren: it is the tweet not the
sooner or later the american investor will get this out. it is a more normal trade. >> a question whether this is as bad as delta was or speculation it might be worse and the therapeutics might not work. >> as long as we don't get the lockdowns or severe restrictions on mobility the market moves higher. >> early returns are this is a mild problem not worthy of the federal reserve getting easier or looser. ♪♪ >> 11 am on tuesday, the final day of november. i'm lauren simonetti with a
beautiful shot outside fox headquarters in new york city but an ugly picture on the markets, the dow is down 600 points. the s&p is down one.6%. jay powell testifying before the banking committee says, cron is a risk. it is not baked into forecasts and said it is appropriate to accelerate which means rates could increase sooner, faster, as they combat inflation and that is impacting the 10 year treasury note. you see the yield trading down one.9 basis points, that is hurting big tech. apple is the only gainer, a solid one% of microsoft, google's parent, facebook, meta-platforms lower today. what powell just said that it is appropriate to accelerate the tapers hitting stocks
overall and you have moderna, the ceo telling the financial times their covid 19 vaccine, the effectiveness of it might drop and will likely drop against this new variant, stock is down 7.5%. white house press secretary jen psaki defending the travel ban to some south african countries despite president biden calling trump 2020's travel ban xenophobic. >> the president was critical of the way the former president put out a xenophobic tweet, what he called the coronavirus and who he directed it at. the president has not been radical of travel restrictions. we put them in place ourselves in the spring. lauren: that is the set of for todd pyro joining us for the whole hour. it was in his tweets that were
xenophobic. can you explain? lauren: verbal gymnastics. lauren: verbal acrobatics. lauren: she's getting good at that. that is her job. she would be a good lawyer. i wasn't that good a lawyer which is why i am here doing tv but the point is he meant what everybody thinks he meant in this verbal gymnastics is just bull. calling it what it is ultimately. we know what he meant, being president during the covid time period when the disease is coming into our country is not easy and you have to do things as a president that may not be popular with the woke people in the world so that is why he is saying i didn't means that. it is a bunch of word play. he's doing this to keep the
country safe like trumpeted to keep the country safe. lauren: to assign a label is just wrong and even democrats are calling him out, the view cohosts calling out president biden over his travel ban saying it isn't that different from trump's. >> i don't know that the travel ban makes sense. this variance was found in is real, belgium, why aren't their bands - pulled out. >> don't agree with her a lot. she's kind of right on this one. that is an interesting take. depends whether you are for or against bans and in terms of internal inconsistency there's a point. trump had it right at the beginning, we may want to close
up some borders on this because it will not be a good thing. he was right to do what he did. neil: iran on it. lauren: potentially lost the election because of it but ec governing is much harder than talking. lauren: you call it verbal gymnastics. lauren: let's check the markets. we have mike murphy coming in. tomorrow is december 1st, the santa claus rally toward the end of the year. at the december 14th meeting of the federal reserve tapering a few months earlier than initially laid out. do investors buy or do they sell or wait for the data as we get it on a cron? >> the biggest mistake for
investors is trade the portfolio we are getting on a daily basis. we get headlines out of washington, south africa, and down 900 points, we are down 500 points. it sticks with the game plan, don't try to buy because we are going up tomorrow. big tech names are still where the growth has been and continues to be. the larger the stock looking at the s&p allocating money today and yesterday, if you have a gift of a pull back like we saw friday allocating money at that point is a great thing to do but i urge people not to overreact to headlines. lauren: do you think this is
headline or is it something more. a small come back, we are looking at a major selloff. what are investors worried about? >> we had a huge run up, planning for end of your tax selling, it was under pressure because there will be losses for what was partaking, and i don't think it is more than that but we have a playbook from the fed. over the course of the last two years, investors sitting close to all-time highs. you may get a bit of a pull
back, we see one or 2 percentage point moves. there's nothing to panic about her cell into. lauren: what would you recommend? >> i'm down with my friend jordan zimmerman. big selloff and things, i mentioned tell us on which we did buy a week ago. anything that gets hit, when we get back to new york later today i am looking at disney because it may not be a $200 stock but i don't believe it is a $140 stock. the streaming business alone can push that stock back to the 180 range and will add to my position. lauren: the wall street journal
reports the ceo shared half of his shares of microsoft. is it time for shareholders should stuart varney share his microsoft? >> short answer know. the backgrounds, he sold half of his holdings but the state of washington is going to put in a 7% capital gains tax starting january 1st. he's getting advice from his advisors to not -- take them off the table. i wouldn't be concerned about that. they would be a microsoft ecosystem for a long time. microsoft will be battling it out with google, and apple and years to come. lauren: speaking of capital gains taxes, taxing wealth, that is very much on the table
for build back better? the bill passed the house, go through the senate can it still provide wealth in the country? is that something we see on the horizon? >> the current administration wants to attack the wealthy and the successful. it is never worked in the past, previous administration, the successful people as we are seeing from a lot of people. it is going to pass, we will keep a favorable tax rate, we have wealthy people figuring out the best way to find the tax haven. i would not be concerned about that. lauren: don't move there permanently because we will miss you.
the office plans, most workers at goldman sachs and morgan stanley, are back on a rotational basis. they have been back in the market since september. wells fargo bringing them back in the new year. goldman adding new benefits so their employees don't burn out, increasing retirement contributions offering 6-week sabbaticals offering paid time off after the death of a family member. they are working 100 hours a week and sleeping just 5 hours a night that is what takes to make the big bucks. there salaries, that is what they do in banking. lauren: i'm dying on my current amount of sleep. there you have it.
kyle rittenhouse no longer enrolled at arizona state university. the news comes after students there demanded he get kicked out of school. more on that coming up. the terror group isis k had the capabilities to keep the united states in the next 6 months. that is the new morning from michael walsh who was on the show. federal reserve pair jay powell told congress the a cron variance could threaten the economic recovery and send inflation rates even higher. we have the headlines right after this. ♪♪ anything... tomorrow.
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>> freedom in florida, 71 degrees, sunny, florida's governor ron desantis says his stable stay open as the world monitors home a cron. >> the definition of insanity is doing the same thing over and over again and expecting a different result. the lockdown didn't stop covid. in florida we will not let them walk you down. we will not let them take your jobs. we will not let them harm your businesses. we will not let them close your schools. lauren: president biden says he's not considering any lockdowns in the united states.
this, defense officials claimed the islamic state will have the capability to attack the country in less then a year. congress and michael walsh, republican from florida joined me now. >> you served overseas, how biggest threat is isis k? >> the un is saying isis k in every province of afghanistan, with biden's strategy, moderate good terrorists to stay on top of and to help us fight the bad terrorists. attacking the west again can't -- it was crystal clear from the beginning that isis and al qaeda intend to hit the united states if given a chance, now they have the chance that are developing the capability.
no plan from the administration to deal with it and i will not wait until we have another pulse my club or san bernardino or 9/11. we are demanding from the biden administration, over the horizon counterterrorism you're talking about? i can tell you having an operator on the ground you got to have special operators and intel specialists on the ground to fight terrorism. lauren: are we back on the ground in afghanistan? >> anyone who served knows one way or another that cancer of terrorism, doesn't stay in afghanistan. the question is how early do we deal with it? >> j howell is testifying before the senate banking committee, he says the oma contrary and could threaten the
us economic recovery, you're in congress, you are right there by jay powell. how much of a threat is a crime to the economy, do you trust that jay powell can fix it? >> look at the contrast of the messaging you are seeing from washington and from governor desantis in florida right from biden you are hearing about we don't know that much but we will shutdown regardless and cannot travel and cause a panic in the american people while we figure things out and you see the affect of that was what you see in desantis's we are going to take a balanced approach, keep kids in school, keep businesses open, keep our borders open particularly with a tourism driven economy and right now as we speak florida
has the lowest per capita covid rate in the country. we have to learn to live with this virus, not overreact to every new variant that comes down the pike. lauren: we said we have to live with the virus. a lot of us are frustrated with this, that is where we are. the great alphabet is long and it can repeat. it is its own speed, we have seen a flip red to blue, high numbers of infections in the red states and now we are seeing it in blue states. do you think that has to do with it being colder, people going indoors in new hampshire or vermont or is it about policy? >> it is a bit of both and what we've seen is the lockdown mentality didn't work and it has spill on affects. you have kids falling further behind, small businesses that
have been devastated. the printing presses are red hot, ironically from china and that is something in terms of the origin of this, and who should be held responsible, the chinese communist party, the we are not hearing anything and that is a shame. lauren: thank you for the time. let's take a look at the market overall. not as bad as it was, down 493. the nasdaq was higher for much of the morning, down 210 points. goldman sachs downgraded from neutral to abide down 4%, goldman says dollar tree is too expensive at these current levels, the store raising prices to one dollar and $0.25.
cybermonday, $11.3 billion, todd pyro, that did not happen. >> 5 or monday sales were down for the first time ever in the history of life. according to adobe. according to adobe online shoppers spent $10.7 billion, that is a one.4% drop from a year ago but despite that adobe expects a record-breaking holiday sales season. they think we will spend, get this, $207 billion by the end of the year. i think there are three reasons we didn't hit that number, we told everybody you need to shop in october. people, the sales that great, the supply chain issues and isn't every day cybermonday in the current world? you and i talked, you buy a lot of stuff, 363 days. >> i might have bought something during the show.
>> buying stuff online. >> it is possible. black friday sales, for the first time ever too. it is a stretch inflation holiday written season. >> verbal gymnastics. >> you need to do some good shopping. the new york city vaccine campaign is targeting 5-year-olds offering $100 cash. i will ask kennedy, twitter facing major controversy over something she tweeted, we take that on after this. ♪♪
cloudy. let's check the markets. dow jones is lower. 93 points and the rest of the market down one and one third%. susan lee, you have the movers. apple is a bright spot today. >> apple continuing its performance with concerns of more lockdowns owing to the new a crime variant and apple does well when people are locked at home, but they are using their apple products. interesting that apple is outperforming with the stock market taking a leg down after the federal reserve chairman jay powell testifying on capitol hill that they would consider wanting back stimulus, bond purchases earlier than anticipated and they will discuss this at the september meeting and this surprised wall street looking at special lows, the gap, boeing and other
airlines and reaction to those jay powell comments. moderna's ceo saying their vaccines were less effective against the oma crime variant and the targeted vaccine for moderna may not be ready that soon but pfizer's ceo said they are working on an oma cron variant targeted vaccine that will be available in less than 100 days. depends on who you believe. these pots are going in opposite direction. lauren: jack dorsey stepping down as ceo of twitter. a 10 year veteran of the company. if they are not going to make a distinction between muslims and extremists why should i distinguish between white people and racists? does that message concern you?
>> agree or not about his politics, he is one of the rare entrepreneurs that has built two multibillion dollar companies and i to say, i can respect that but the founders of silicon valley, many in the 90s had the idyllic vision of the free and open internet. mark zuckerberg did, larry page, what you've seen is a pattern of them effectively when they run into the social storm ahead, when they recognize they are reporting to the ultimate party in power in the united states, cultural forces in the united states, reporting to the woke mob a what they are doing is passing the baton to the technocratic ceos to have to face the new storm ahead. >> the new ceo, is he the woke mob or just responding to it?
>> part of what is going on is jack dorsey effectively reporting to the woke mob but one of their own in charge. that is what larry and sergey said, effectuating censorship, fired an employee who defected from the woke orthodoxy and that is what you see technocrats to because the founders originally had an original vision of a free and open dialogue that they completely abandoned due to the new culture and by putting in place the technocratic ceos were willing to bend the knee to the new orthodoxy. the ceo hasn't taken a job yet been making a general observation that seems to fit the bill. lauren: major platforms within reach, they might not have expected when founded years ago in silicon valley but here they are and they are businesses.
to answer to shareholders, twitter stock is up 57%. facebook stock same time period is up 260%. how does the new ceo turn this around. he has to answer to shareholders who want better performance from twitter, he has to do that too. do the policies have to change? >> the question about twitter's profitability, and the way twitter is run on matters for censorship are two questions. twitter doing what is in its self-interest scathing off regulation and punitive government action by effectively bending need to the party in power. if you are criticizing twitter in fairness we have to apply argument evenhandedly. either we are talking about the company protecting itself and its profitability in which case doing exactly what they do in censoring political content because there's a new party in power that effectively demands they send content that the power it in party doesn't like him.
these companies ought to live out american ideals of free-speech and open debate and original vision for the free and open internet even if it comes to a short-term cost of government pushback when being pressured to do the opposite. the precise which criticism we are leveling. speaking personally i don't know the twitter's profitability is going to be the main chris is a the company, the behavior on the new woke censorship orthodoxy that we ought to be more concerned about. >> arizona state university saying kyle rittenhouse is no longer enrolled at their college. it comes with a group of students, pushed for him to be kicked out, called him a racist and bloodthirsty murderer. rittenhouse was acquitted of all charges. why can't his peers affect that? >> a new form of
totalitarianism not just through the legal system but principally through our culture. we have a new culture that effectively turns you into a social pariah, that has you take a risk of not being able to keep your job at work or even keep your spot in school if you are seen as somebody who defects from the new orthodoxy. the new form of cultural totalitarianism is the biggest threat to free-speech and democracy today. the best measure of the health of a democracy in my mind isn't just the number of ballots cast every november but living in a society where people are free to express themselves and go through due process, we have a justice system but the 5 innocent or guilty and if they are innocent they live the lives of innocent person. it is a sad thing to see this cultural totalitarianism affecting young kid who may not be able to live his life the same way ever again, the prosecution that never should have been brought against them in the first place as reflected by the tech he was acquitted on every single charge the
politically motivated prosecutor brought against him but that's the state of society today and i'm sorry he will have to be a sacrificial lamb suffering at the altar of that progress of also -- orthodoxy. lauren: thank you for the time. now this was the pentagon warning china to build 1000 nuclear warheads by the end of the decade. what are we doing to prepare? i will ask ric grenell. did you hear doctor anthony fauci accuse republicans of being anti-science? there you go. >> easy to criticize but they are criticizing science because i represent science. that is dangerous. lauren: we have senator ted cruz's response next. ♪♪
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>> the selloff continues one.5% of the same percentage for the s&p and a little more for the nasdaq which was higher earlier in the morning. amazon accused of underreporting covid cases at their facilities in the us down one.3%. the labor group is calling for a federal investigation of that underreporting and stay-at-home stocks you would think would be winners but even they are caught up in this selling today, zoom, all down and pretty sharply, tell a dock down one.5%. ted cruz in a war of words with doctor fauci. what is this war of words about? >> blasting the doc calling him the most dangerous bureaucrat
in american history after fauci called out ted cruz claiming lawmakers who criticize him are criticizing the concept of science. >> they are criticizing science because i represent science. >> he said i represent science. i am science. i was laughing, it is like louis the fourteenth, the son king in france saying i am the state. it is this delusion of grandeur that you cannot criticize him. >> not mincing words but kind of made sense. it is an odd thing to say. a grandiose thing to say. >> at the beginning he was the most popular man on the planet. >> was he science? lauren: he thinks he was, he might need a bigger pillow at night to sleep on. look who is here. do you agree with what senator
cruz said? that fauci is the most dangerous bureaucrat in history? >> absolutely because he's a beagle killer. that's one of the many reasons i despise tony fauci, his funding of research where they killed beagles, did horrible things to the sweetest dogs on earth because they were docile and kind, the dogs wouldn't put up a fight when they had their vocal cords cut. fauci is a bad person, he's not about gain of function research, he has known where the money has gone, everyone involved, his institute, francis collins is culpable. they know what this is going to lead to. science invite critique, invites criticism. you cannot publish a scientific paper unless it has been peer-reviewed. that means you invite people who are competing with you to
criticize your work, that is the basis of science. he is so far out of his depth here. >> new york city is keeping kids as young as 5 years old with money to give them the vaccination, with your 5 or 105 you will get 100 bucks when vaccinated for covid 19 at a city run site, get a little extra holiday cash and stay healthy all season long. is that bribery? helicopter kennedy. >> parents should hold out for $1,000 because it is the holiday season. happy hanukkah to our friends were celebrating, hold out for $1,000. show them your on the fence and go from place to place to place
getting jab after jab. imagine how much cash you can get. lauren: imagine your child that i $100 to get vaccinated and you are not ready to vaccinate your child between 5, and 12 years old. >> you go to cvs into the technician to move the needle to the left i will give you 50 bucks. lauren: you would find a way to get around that hundred dollars. good to see you. we will be watching you at 7:00 eastern time on foxbusiness. look at the dow 30, how broad the selling is, there is one bright spot. it is apple, the only stock in the green and in a big way today, the dow is at session lows down 605 points. iran just restarted nuclear talks, israeli defense minister warns iran is dashing toward a nuclear weapon.
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>> the pentagon warns china could build 1000 nuclear warheads by 2030. ric grenell joins us now. what if anything is president biden doing to prepare? >> he was recently revealed that he has been talking to individuals, experts in washington dc who believe that ultimately the united states should disarm nuclear weapons. that is frightening. this is just another example of how president biden of the past is not the president biden of today where progressives have taken over. he voted for the iraq war. this is not a guy who was for disarming us from nuclear
weapons but now that is his policy. he asked experts to write a report to give options for the future. you think about that this is a scary time because china is sensing the president biden is weak. we have seen that from their meeting in alaska where they lectured us on our soil on human rights and we see them climbing could back, clawing back to get into the arms race. something has got to be done about the rise of china and the emboldened nature of the chinese leaders under the biden administration. >> the question of did president biden get anywhere in his meeting with president xi i assume your answer is no because you have this report that they are advancing their capabilities. >> we don't have an honest assessment of what happened on
that call. you get what political people do which is leak little things and they are saying we didn't talk about nuclear weapons, we danced around the issue. my eight years at the un working with the chinese and the russians every single day, you've got to go directly in and confront the issues. lauren: sound like asking for a report slows the process. it would be reactionary rather than getting in front of the problem. >> that is what washington does. as long as you throw it to the ngos and next tuesday or week from tuesday or 3 weeks from tuesday we will have a discussion and we will talk about these issues they call that progress. i think when you schedule meetings that is a tactic, not progress. lauren: next one, israel is warning that iran is taking
steps to enrich uranium, 90% purity saying that the level needed to produce a nuclear weapon. biden seems almost too eager to rejoin the iranian nuclear talks. what's the best strategy in dealing with a nuclear iran? >> you hit it on the head, they are eager to reach a deal. the goal for the biden team is to have a deal. the opposite of america first is consensus with the rest of the world and that is what president biden seeks. he tries to make consensus with the europeans or consensus at the un and the security council, he makes that the
goal, consensus once in a while may happen but the goal should never be consensus. the goal is how do you make america safer and stronger and convince the other parties that when you make america stronger capitalism follows, rule of law follows, human rights follow so it is good for everybody when you put america first. instead the biden team has come in and they want an agreement with the europeans and others. let me be clear about agreeing with the europeans, the germans are gracing to normalize trade with iran. when i was there as us ambassador i saw all the german companies doing business there and coming into my office to try to convince me they are not so bad and we should trade with them. they have this idea of trading with iran, to convince of them that they need to come into the fold of the international community. they will never do that. >> sanctions are hurting them. thanks.
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with -- >> 3. lauren: 1500, so that i. number 4, 2000, almost 1.5 gallons of blood each minute. thank you as always. you can catch him tonight on gutfeld 11:00 pm eastern time and tomorrow morning on fox and friends and susan is on gutfeld too. that is it for me in for stuart varney. neil cavuto, it is yours. neil: todd, does he ever sleep? we are looking at the selloff, a lot has to do with the electron virus and concerned that it could spin out of control. it did not help to hear the inflationary repercussions of that. the dow is down 610 points and