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tv   Varney Company  FOX Business  December 6, 2021 9:00am-12:00pm EST

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were in a position where everyone is raising prices. i think that is why the inflation is not transitory and it will go barreling into 2022 and an investment issue. >> it is hard to roll that back. dagen mcdowell, liz peek, great to be with both of you, have a great monday. we'll see you again tomorrow. "varney & company" begins right now. >> taken away. >> good morning, good morning, everyone it's great to be back especially on a day when there is so much going on. i'm going to start with bitcoin, what is that tell you about the financial world read over the week and it dropped like a stone, down 20%, one point saturday morning it was priced just under $43000, it is 50000 a few hours earlier, backup 48300. the weekend drop in bitcoin and the rest of the crypt coast
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heavy selling friday and technology stocks. what were looking at is a modest rebound for the dow but continued weakness in the nasdaq, that's overall market. the dow will be up couple hundred points but the nasdaq down another nine-point the federal reserve is reversing course, it's going to cut the money printing and raise rates that's what has upset wall street. a look at this. a flight to safety, money pouring into the ten year treasury. the financial world jampacked with action this monday morning and so is the political world. today the administration resumes the remaining mexico policy. biden had earlier ended it on the ground that it was trump's cruel policy. it is back because it worked, chris cuomo has been fired by cnn last week he was suspended for his activities supporting andrew cuomo, saturday he was
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fired after new sexual complaints surfaced, chris cuomo denies the allegation but he is out. all travelers coming to the united states as of today must show a negative covid test taken over one day before the flight. the airlines must have dates of birth for arriving into international travelers and submit that to the government if requested. no checks on the southern border. tomorrow president biden holds a virtual meeting with vladimir putin, this comes as u.s. intelligence reports invasion of ukraine. biden's organizing a diplomatic boycott of winter olympics. the concern is china moves on taiwan, russia moves on ukraine and biden after the afghan debacle lacks credibility. there is more, aoc says the reports of mass looting and smash and grab have not panned out. the retail guys say she doesn't know what she's talking about.
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monday december the sixth, 2021, "varney & company" is about to begin. ♪ ♪ ♪. stuart: i'm back back in the new york group. good morning lauren. should we start with bitcoin? lauren: let's do it. a table below 50000. about 5000 bucks, it's the last whatever was. lauren: it was a weekend of selling down 20%, 42000 and change at one point. it is still down in november, remember the high 69000 is very volatile and the moves are helping to rule out the idea that bitcoin is a safe haven in
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the hedge against inflation. you are not seeing that now with what we heard from the fed last week. maybe it's an investment. they are out with a new survey and they said older americans and females are showing more interest. it is pretty widespread. stuart: 483 as we speak and to speak on bitcoin. keith fitz is with us. were talking crypto. who did the selling, the retail guys or the big players. >> it was the big players something called the whale ratio was 95% coming into the weekend. that is the ratio with the amount of bitcoin that people hold their wallets. you see this kind of stuff on the stock exchange in the future and et cetera around the world this is not an abnormal move, big players decided they want to take some skin off the game or whatever the expressionist and they sold. stuart: would you consider buying bitcoin right now at 48000 as an investment something likely to go back to 60000?
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>> yes i will not by all at once i hope i'm smart enough to buy it if it keeps dropping. the number of institutions coming into bitcoin is continuing to rise. i don't care about price, what i care about is the future of acceptability digital currency is here to stay. stuart: let's talk about the stock market why should anybody buy stocks right now when we know the federal reserve is going to tighten rates. >> that is an excellent question, here's the answer if you're playing for tomorrow yet a 50/50 proposition, five years or 70-point to percent, 93.7%. the stocks are higher. if the bet is that you want to make more money then you need to do it even if the fed raises rates. the businesses behind all of this are still growing. apple is growing, microsoft is going, chevron, pfizer. it does not matter so much the rate, if you can protect against them in the speed of the
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increase. if you get a torpedo that the problem but i don't think powell has the nerve to pull that off. stuart: a crunch is coming at some point, it may be delayed if they keep printing the money but a crunch has to come, does it not. >> you're absolutely correct. right now they're playing a simple kick the can, this is like peanut the rodeo your job is to make it to the buzzer you don't care what bowl or how you get there you just want to make it to the buzzer. i'm focused on that right now. he got into wind as opposing not to lose. stuart: i am scared to death. am about to retire, maybe retiring and just as i retire jay powell the crunch arrives in the market plunges and i'm out for my retirement there's a lot of people like me in the exact same situation. >> i feel that as well, it bothers me i lost a lot of sleep which for me is very uncharacteristic in market conditions. you got to have the right
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companies and be thinking about when do you sell, what do you by now the answer is not what it used to be. this is not a problem if you on the right companies. >> all tell you if i sell now i will not be buying back in anytime in the near future. i just want. i'll be out sometime to come. you all right, we'll see you again soon. hackers targeted the platform that mark, how much did they get away with. susan: $196 million, they accessed a stolen key and open to digital wallets. he gets complicated they transferred 20 different tokens, they swap them for either and then use the privacy mixer to make them harder to trade. bit smart is compensating out of its own pocket, here's the issue in the problem with crypto currency that make people so nervous. stuart: $196 million.
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>> hard to trace the hacker. stuart: congresswoman alexandria ocasio-cortez scissors little evidence this smash and grab robberies are happening or panning out as she says. charlie hurt is with us. you have any idea why aoc should be saying this? >> i guess we should take some solace in the fact that she's trying to ignore the problem or pretend it doesn't exist as opposed to embracing the problem that she enter policies have clearly caused. it is a real problem in a real political problem. you don't have voters out here scrambling to legalize shoplifting, celebrate organized crime and shut down your local drugstore. this problem is a problem that affects people in a very direct personal way when you drugstore in your neighborhood closes
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down. when you cannot kill them by which you need to buy at the store. i that builds up into a real political problem. we should be glad to aoc realizes, this is a terrible terrible thing to be defending. stuart: is an embarrassment for the democrat party, she's a political start, when she says things like this against major headlines all over the place and it's an embarrassment. it is the leftist section of the democrat party, telling the party what to do, what policies to put in place. i don't think this flies. >> i think you're exactly right. it reveals an extraordinary disconnect between her and the results of the policies that she and her party have embraced. as you showing on the screen. these images don't lie, they are
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unavoidable. the people who were affected the most by this particular crime are people who live in urban areas mostly represented by democrats. that disconnect in this kind of result was poor political decisions leads to huge wave elections. i think were setting up for one. stuart: could have any impact on bill back better, this could be a furious debate over the next couple weeks. here is aoc saying this about the smash and grab robberies couldn't affect the back better? >> i think so the point you were making about joe biden and having to deal with ukraine and taiwan. this kind of thing completely erodes any confidence that people have especially democrats in congress who have to get reelected under the joe biden regime.
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it erodes any confidence that joe biden or this white house is any idea what they're doing in any sense of the political mood in the country or any good ideas of how to help the american people. stuart: well said, thank you for being with us. always appreciate it. >> the futures have turned around, the nasdaq is up ten-point in the dow showing us all again 266-point after all the selling last week. white house chief of staff ron klain says immediate treat president biden worse than it treated his predecessor. doesn't he remember what they said about trout. in case you forgot, watches. >> donald trump's. evil. >> donald trump a smock. >> is not a sound mind. that is somebody that you look at and say there is something wrong. >> medicated the hospitalized.
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>> in my opinion i think the democrats are desperate to get the media back on the hate trump train. we have more on that coming up. new research shows omicron may be more infections because it has genetic code with the common cold, some would call that good news, what does doctor siegel call it. he is here and he is next. ♪ thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.
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or visit an xfinity store to learn how our switch squad makes switching fast and easy this holiday season. stuart: that is a pretty shot, blue sky.
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the temperature is 6 degrees and windy. we are up 12 points, solid gain of about $2.70. the vaccine makers are in the news this morning. the surgeon general says we must be more vigilant of omicron, don't panic he says. doctor siegel is with us this morning. doctor, we have heard the strain omicron is more transmissible and much less severe, some would call that good news. what say you. >> first of all it does look like were headed in that direction. we don't have absolute proof but a study out of massachusetts shows it's picked up mutation from a cold virus which means it would spread much more easily but not be as severe. that's what we see in south africa so far report after report, it spreads very widely easily may be more than delta
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but is in getting people as sick especially of your vaccinated or prior covid. were seen re-infections mean you could've had a different strain. but if your vaccinated or if you had covid it's going to be milder. that's good news we could be heading in a direction of the more severe strain being crowded out. when the surgeon general uses the word vigilant i get nervous. we've been hearing vigilant, what does that mean watching people walk down the street, where is your mask, did you have your vaccine, that vigilance has created a great amount of fear and worry and anxiety. stuart: can you straighten out the confusion. we heard the vaccines are effective for only a limited time but the booster shot will be required every year. the new strains are spreading rapidly. what precautions should we take, there is mass confusion out there, tell the audience what should you be doing out there.
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there should not be confusion, the more immunity the better. did you get over covid, that is some immunity, did you have the vaccine that's more immunity. if your vaccine is waning, you get a booster. i like the idea of rapid home testing so you have the ability to tell if you contacted somebody with covid. masking that's where the confusion is. masking should only be essential in public areas where there is a lot of people and you don't know whether there vaccinated or not. in your own home with people who have been vaccinated or in settings of small groups where you know they have been vaccinated or don't have it, you don't need the mask, that's how clear it is. stuart: i think the public is coming to the conclusion that we have to live with this we will not write kate colbeck will have to get on with life. are you with me on this. >> i'm completely with you on
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that. >> it is consistent with what you're saying if you don't do what do you say, no one listens to you and were confusion. the leader of the free world has to follow the exact policy. he's telling others to follow where no one is going to follow it. stuart: i am not retiring i'm having far too much fun. thank you, will see you again soon. one more item on vaccines. bill de blasio has announced he will expand new vaccine mandates to private businesses before his final days in office he announced the vaccine mandate for private businesses starting two days after christmas.
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>> as of today we will announce the first in the nation measure, our health commissioner will announce a vaccine mandate for private sector employers across the board. all private sector employers in new york city will be covered by the vaccine mandate as of december 27. i may have other majors as well. >> some of the other majors kids as young as five have to show a vaccine passport to eat indoors. there is also talk of mandating booster shots. a mandate for this. stuart: i think it's overkill. no one. >> you could have people that will get vaccinated he could do this all he wants. you just won't get vaccinated. >> all the mandates and shots we get, the situation stands.
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>> crowds in belgium protesting the covid restrictions, that's pretty serious. they marched toward the eu headquarter. a hundred protesters ran through the police barricades and they used water cannons and tear gas, the protest has been going on for weeks and other parts of europe. they just tighten the restriction, schools can close one week early for christmas because the infections are going up and kids were older than six have to wear masks. it's not that different. there protesting in the streets. >> i would love to get a plane load of austrians under strict lockdown and fly into florida, open the doors and say look at this. this is how you can live free. >> florida has nice weather so you can be outdoors. when you're in new york city and freezing in your kid who is five have to show a passport to eat
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indoors that has a lot of people saying florida is wonderful. stuart: check the futures, an upside mover, the dow is up to 70, the nasdaq up 29, the opening bell is next. ♪ (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market.
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stuart: futures pointing up across the board for the dow who was here. the fed is going to raise interest rates and reduce the printing of money. why would anyone buy stocks right now. >> you have to be very careful of doing exactly that your to be careful buying stocks their extremely expensive in any sort of rationale, stocks are extremely high and the chairman of the endowment i moved it putting aside two years worth of our spending away from it at market risk. i think stocks are extremely high in the fed is on the hallmark over the next several years. will get the fed funds rate back to put or three years and back
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to three or 4%. inflation is a problem and i think it to be very careful about early stocks. stuart: does that mean stocks are going to plateau, come down and stay down for a significant period of time? >> i doubt that they go down for a significant period of time. the history is for a bull market stocks go from the long-term to the upper right they have been doing it for hundreds of years and decades in the past ten years. i'll continue to do that 30 years from now but can we pick stocks lower for the next year or two in ten or 15%, bb 20%, probably that's what's going to happen. you've got things extremely expensive by any measure. just be careful it is still a bull market and you still have to be but in bear markets he or she who loses the least is the winner. stuart: i know you don't care
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for bitcoin because you can't drop it. do you feel vindicated with a huge selloff in bitcoin and the rest of the crypt is over the weekend. >> i feel vindicated per unit i've always said the bitcoin in the crypto's are a ponzi scheme of the worst sort of the public is involved, it's really quite extraordinary, this sort of activity reminds me with 40500 years ago if the same circumstance when the public gets involved as they have been you have to be very careful there is no limit to the number of bitcoin's decade, i see some bitcoin that will be a finite amount of bitcoin but there is an infinite amount of crypto that can come out. just be careful, do i feel vindicated, feel vindicated when bitcoin is trading under 25000.
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stuart: thank you for being with us, always appreciated, will see you again real soon. thank you the opening bell will be bringing in 15 seconds it'll be interesting a rough week for stocks, a rough weekend for the crypto over this past weekend. they get a ring the bell and literally five seconds will be trading on wall street december the sixth. , the dow is good to be up significantly from the start, again of about 27800 points for the dow industrial, bad week last week, this is the ninth rebound but not all that strong. on the s&p 500. the big tech really took it on the chin, enormous bounce, a quarter of 1% of 15000, all the
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big tech, again not that much, i follow microsoft obviously, 324 this morning, way down from the high of almost 345, not that long ago. let's have another look at bitcoin in the crypto's. susan good morning. susan: our backlog is all about nf teasing crypto in this transition and evolution. i just heard you sticking to dennis. we are always down 10% from friday's level, we were down 20%, is a volatile asset, we know that the 48000 we started january 2020, it's only at $7000. stuart: january 2020, 7000. you still have a lot of upside and dennis was saying its individual retailers, that is not true if you look at the big news on crypto currency you be
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surprised that bitcoin fell more with ether and other cryptic currency because there's more institutional buying and bitcoin so the pension fund, hedge fund and that's why bitcoin trades around the macro trends of the omicron or the federal reserve. stuart: you don't think it goes away. >> now it's $3 trillion, crypto currency is here to stay its buyer beware and other cryptic currencies. the other smaller ones. the smaller ones you just have to be aware of what you're getting into. >> let's move on to lucid. i was watching the way down, 14% lower. >> there's a lot of subpoenas going around and that's very concerning the s&p subpoena lucid for documents deal which took lucid public. they are concerned over protections and statements are made at the time which reminds people what happened.
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remember nikola and trevor milton stepped down for overstating the overrepresented technology. it's been investigated for the preorders for that and their merger in workforce is being investigated by d.o.j. and the sec over fraud allegations and is technology. stuart: you have to say subpoena. >> lucid is the longest range car after, also motor trend car of the year for 2022, you thought that the epa in motor trend would've done their due diligence before these labels. stuart: lucid drop of flow 40, we have tesla tesla is 983 this is the fcc. >> the sec is looking into the solar panel defects from solar city this is after was served under whistleblower claims did
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not properly warn customers of a fire hazard. you forgot that tesla bought solar city back in 2016 for $2.6 billion in at the time elon musk. people were saying at your cousin's company and your enriching yourself by using the company's money. stuart: i cannot keep track of all the sec. is making the news this morning. stuart: lucid and tesla. he was a principal, a real challenger in the ev market. susan: rivian has been trading like it on very little sales less than 1 million, according to morgan stanley they had 40% upside. it's worth $147 in their view. the reason is morgan stanley said the trucks are the most capable desirable and $80000
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range in amazon the partnership is key because amazon has put into purchase hundred thousand bands and it'll go up to 300,000 in 2025 or 2026. stuart: it does have to have one single winner in the ev market. susan: think about it gm is ramping up in morgan stanley volkswagen will be the winner or the biggest seller not necessarily the winner but the biggest seller by 2035. stuart: here comes neil from china. susan: there's a lot of players getting into this. we will see who has the best technology winds at the end of the day. stuart: they have an activist trying to get on board saying get rid of the online business. stuart: citadel, the stocks are growing the faster growing parts from brick-and-mortar which is been under pressure.
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engine capital which has 1% by the way of coal, i don't think it's enough to pressure company but i think it's a trend in resale, fifth avenue is being forced insane thing going on with macy's in their activist investor. stuart: closes at 5.5%. very early this morning i got in my office, 4:00 o'clock i was looking at ali baba and hong kong, it was down 8%. now it's up 2%. susan: there forgetting the chief financial officer and the e-commerce business which is as you know the chinese company are being threatened from being delisted in the u.s., they're down another 7% today but looking at the e-commerce business that's been encouraging at least they're doing something for beijing.
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>> i owned it and sold at $240 a share. i made some money on it and it came straight down since then. 114. what is this about jack-in-the-box. del taco. susan: is an interesting combination, i have not eaten there. it's worth a half a billion dollars but it's also official under future technology, jack-in-the-box 90% restaurants has drive-through's, the combination, if you don't walk in you need fast orders, that's what this deal does. >> jalapenos. stuart: that is great, thank you very much. the dow winners. apple is having a great day on
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2%. stuart: 16499, column 165 on apple. i do want to confirm. the s&p, you had an severe. stuart: the nasdaq winners, apple is up there with booking holdings in apple. ross stores is in there, good stuff. but check the big point, up to 66 points, 34851 i'm interested in the ten year treasury yield looked at it go down 1.37%, that is the yield the price of gold nowhere near 18 bucks an ounce 1779 bitcoin barely holding onto $48000 as we speak. oil i believe that is up today, $67 per barrel, not gas not doing very much. look at that that is very important, you're down 9%, that
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is because the weather is been significantly warmer than expected and much of the areas of the country were you using that gas to heat your home. >> were well into looking for inflation, the fed has some leeway. stuart: it was 331 now it is $3.36. it's come down a little bit. california $4.69 per gallon for regular. the next case. the administration is reinstated president trump's remaining mexico policy on the southern border. the architect says this is remaining mexico only. >> the cannot and should not going to use on nearly enough people nearly enough places on nearly enough groups to have any measurable impact whatsoever. what you're going to see is going to be a head fake.
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stuart: was a reality on the ground will get a live report from bill melugin in the next hour cnn fires chris cuomo that is one of his problems of former colleague is accusing him of sexual misconduct, we will have details. big-time hedge fund manager says he misspoke when he compared china disappearing critics to something as strict parent might do it will tell you what he saying now after this. ♪ ♪
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gold. your strategic advantage. stuart: my next guest is sponsoring a bill of the communism. the crucial communism teaching act. congressman ted budd from north carolina joins us now.
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what is the difference between insisting on teaching crt, critical race theory in insisting on teaching on communism. >> we need to make sure what made her country great, the left is teaching awoke socialist agenda. when you look at crt in 1619. essentially this is going back to the thing that made our country great, the declaration. life, liberty, pursuit of happiness. those are the things that we need to teach. essentially the left is destroying us through their woke socialist agenda. are you comfortable with politicians passing an act to say you have to teach history this way it takes a victim memorial fund communism that started in 1917 in an awful idea, it shows a hundred million people.
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and what made our country great, is giving people free around the world. victims of communism memorial fund and creates and allows them to create a high school curriculum. it does not force anybody to teach anything. but it gives them the opportunity to teach what made our country great and it tells about the evils of communism and this gives people a solid curriculum where they can teach that to their students if they so choose. stuart: former president trump favors you as a candidate. >> we started this in april. when you pull and tell people about donald trump up with this 20 points ahead. if you ask people were at a statistical time with the two-time excavator and we plan to win this on march 8. were 90 days away with great
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momentum. you want to see and read again in 2024. the president is going to do whatever is best for our country and i'm grateful for his leadership and am grateful for his endorsement for me. stuart: it is is policies that are popular as opposed to his persona, what do you say. >> when i'm talking to people all across 100 counties in this great state there telling me they love the president and you realize with the president talks to people he is filtered through the mainstream media i'm not talking about you but those out there that distort what he says and they've really changed what people perceive of him. i had time to be around him, he is gracious, funny and he loves people in our country and i only wish every single american had time to spend with him. stuart: thank you for joining us. we appreciate up a come back now this, the administration may announce a diplomatic boycott of the beijing winter olympics.
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how soon? >> a boycott is when the athletes can participate in the games but government officials do not attend. i know three things any other countries going to join the u.s. if you announce this. how will china respond they warned against a robust response the winter olympics, why? what they are doing now they were doing back then, maybe worse so now but today they got them in the. stuart: a major-league billionaire is responding to criticism about his comments about human rights abuses in china, he went easy on human rights abuses. lauren: the world largest hedge fund in china and he told cnbc last week. he was asked why he keeps disappearing. his answer essentially compared to the chinese government to a strict parent. that is it he has had a lot of
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backlash, here's part of his apology i assure you i didn't mean to convey the human rights are important because i believe they are and i didn't mean to convey that the u.s. and china deal with these issues similarly because they certainly don't. but his comments were odd and inappropriate of rationalizing the company's investments. for some this is a moral blind spot for the wall street journal put it nicely, this is why some people dislike wall street. i want to point out the ceo dave mccormick is running for the senate. that could have been another reason why he came out forcefully, i did not mean those comments the way they came out. stuart: outgoing mail bill de blasio is cementing his legacy with backs mandates. he is considering a booster mandate for indoor dining and other indoor events. look at this roadblocks showing off his facial expressions. we have more of that coming up for you. that is a robot.
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stuart: we talked about labor shortages across the country some are turning to robots to solve the issue, grady trimble in chicago. you're talking to a company which is double production with automation read what kind of robots are they using. >> they are called locust, these are already filled their unloading them now to be packed and shipped out. then you'll see in a few seconds the robots should head out into the aisles where human workers work with them to fill orders. i am with the ceo of locust robotics. this time of year we talk about the surge in online orders, this helps companies meet the demand. there goes a robot right there. >> volumes are exploding and the nice thing about robotics and improves superhuman, double the efficiency as the number of units of worker pics per our.
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we will double that. the other thing that we do we improve safety and these buildings have a lot of equipment and the nice thing about robotics it improve safety in the building significantly. >> the way it works to see the item right here on the screen. it gives you a code and you find it on the shelf, human worker fills the order and the robot goes back to the area where we were and they get it ready to be packaged and shipped out. by the way they said they used to walk up to 16 miles a day to fill these orders. now thanks to the help of the robots are really position where the orders are there walking about 5 miles last. >> it sounds good to me. the very useful robots. thank you very much indeed. still ahead we have the dow up 400 points, quick market.
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349 almost back to 34000. the nasdaq falling out of bed down 56. florida congressman greg steube roger williams, steve forbes, the 10:00 o'clock hour of "varney & company" coming up next. ♪ . .
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♪. stuart: well, good morning, everyone. it is 10:00 eastern. straight to your money. look at that. the dow is up close to 500 points. actually it is 500 points as we speak. it is back above 35,000. however the nasdaq is down 36. take a look at big tech. bad week last week. not a great start to this week. amazon's down, alphabet's down, microsoft's down to 320. so big tech taking it on the chin again. 10-year treasury yield, right now at 1.38%. amazing 12. bitcoin, last time we checked it was at 48,000. it is 48,150 as we speak. that is the financial markets, coming after last week's big selling this monday morning. now this.
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i really thought it was a joke. perhaps a tongue-in-cheek play on the media, but no. dana milbank, liberal columnist at "the washington post" writes this, the media treats biden as badly or worse than trump. here is the proof. milbank uses artificial intelligence analysis for a four-month period this year biden got more negative coverage than trump in 2020. the moment that editorial was published, the president's chief of staff ron klain urged everyone to read it. of course he did. he is the power behind the presidency. he wants to get the media back to bashing trump. how can anyone dismiss the screaming press corps that showed its hatred of trump at every possible opportunity? biden, well he is presided over the deadly debacle in afghanistan, the worst inflation in 30 years and out of control open border and rampant crime. the media hasn't screamed at him, called him names, or pushed
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impeachment. they are protecting him. obvious what is going on here, trump hatred to continue f they keep poundings on the former president maybe biden's failures can be glossed over. milbank is rallying the media to do just that, ease off on biden, go after trump again. if they don't, quote, my colleagues in the media are serving as accessories to the murder of democracy. just who is murdering democracy? second hour of "varney," we're just getting warmed up. ♪. stuart: will cain, with us this morning fortunately. we need a steady hand here. do you you think the media treats president biden worse than former president trump? do you believe this? >> ask me if i'm sane, stuart.
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ask me if i've lost my mine. i don't know whether to laugh or scream out in outrage. honestly, stuart, we can take a little bit of sole last milbank, ron klain, the left are being honest. they no longer want to participate in the objective measurement of the truth. they want to be in their minds, in their minds defenders of democracy. on that note, stuart, time we awfully realized those that yell the racist the loudest, are the racists. those that yell disinformation the loudest are the liars. those held them outs out of as defenders of democracy is propaganda. milbank wants to confuse the public's mind. four years of story of russia collusion we know was a a complete lie. inundate us with lies so we don't know what is the truth and manipulate what we know of as democracy. again, you can hear me, i'm
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gravitating towards outrage, it is such a joke, probably stuart, most of the public understands and can laugh this off. stuart: i think so. it is so obvious anyway. will, the "new york post" reports that the woman accusing chris cuomo of sexual misconduct is a ex-abc colleague. he has been fired. doesn't work at cnn any longer. i can see wholesale changes at cnn. nobody is watching the network. no credibility. >> no. 80%, eight in 10 viewers have left since the beginning of the year, stuart. when they put notice out that chris cuomo was fired. they said additional information comes to light, we knew that was where, that was the crux, entire thing rested on that phrase. sexual misconduct, sexual harrassment allegations. here is what i can say this, can almost fire chris cuomo in reverse order of the crimes he is accused. i don't know, you don't know
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whether he is guilty after sexual harrassment charge, right? that was the straw that broke the camel's back. he was not fired for participating in propaganda for the better part of the year covering up for his brother, covering up the nursing home scandal along with his brother. these are the crimes, journalistic ethical violations he should have lost his job. instead, it is salacious. it may be true. we'll have to let the investigation play out. it is always the salacious final straw that brings someone down. stuart: you have a podcast a new podcast. what does it center in on? >> three times a week. you know what i focused on this week, stuart, i appreciate you asking. i hope everyone will go to apple, spotify, fox news podcasts. in the wake of the horrendous shooting in oxford, michigan, all i ask, who you with me, i broadcast all weekend we need to grab the handrail of sanity. we need a place to point the blame and always need to let the facts play out and understand
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the leaps to conclusion, outrage and judgment before we know exactly what happened. stuart: three times a week is hard work as i understand it. so congratulations, young man. >> you do five, you do five, three hours a day. stuart: it is easy. will cain, you're all right. we'll see you again soon. we'll watch the podcast. dow is up 463 but the nasdaq is down nearly 70 points. bob doll, market watcher this monday morning. all right, bob, i will ask you the same question i asked everybody else today, why would anybody buy stocks right now where we know that the fed is going to raise interest rates relatively soon? >> yeah. you have got a great question there, when the fed raises rates it is not favorable for markets. doesn't mean markets go down. but pace of increase will get slow. it will get a lot harder to make money. you have to get your price in right and be willing, when you
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have a decent-sized gain maybe take some profits. that's a much harder environment. the last 18 months, buy it, it will go up. so i agree with you, getting harder from here. stuart: do you think there is a crunch coming? i'm not asking you when it is coming i think at some point the fed raises rates, markets realize what is going on and there is a big selloff. i don't know when it will come but it will come? do you agree with me? >> i don't necessarily disagree with you. fed will raise rates. inflation is running six, 7%, and the 10-year treasury is what? 1.30 something. it doesn't all make sense. either the inflation rate is going back down or the bond market will come to its senses and trade off and yields will go up and that will hurt valuation on stocks. so that's the potential crunch that might be in front of us. we have to watch for it carefully. stuart: i'm thinking of doing selling before the end of the
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year, pay, whatever the capital gains tax for this year. i hope it doesn't go up next year. if i do sell this year i don't think i will be putting that money back into the stock market. what do you say to that? >> i don't disagree with you, if you been in for a while, you made a lot of money. the stock market has cyclical moves. the fed will take the punch bowl away, slowly and surely. they have already started. they reduced the rate of growth of the money supply. they have begun the tapering process, probably will accelerate it. what is next, stuart? raising of rates. that is not encouraging for economic growth. we've got some time here. i wouldn't panic out today you about if you want to take some profits between here and the end of the year, just don't sell everything. stuart: okay. bear that in mind. bob doll, words of comfort and very interesting. thanks so much, bob. we'll see you again soon. >> all right. stuart: data shows that twitter employees are donating to democrats by a wide margin,
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politicization of the workforce at twitter. break it down please. lauren: i'm laughing because you should see these numbers. 561 contributions by twitter employees to democratic candidates in the 2021 election cycle. totaled not even $15,000. versus eight contributions to republicans. the biggest one was 250 bucks. you know who that went to? congressman kinzinger of illinois, not seeking re-election. one of a handful of republicans voted to impeach president trump. that is twitter's mind set. stuart: is anybody in any doubt that twitter is a democrat institution top to bottom. it is official. lauren: it is official. stuart: "buzzfeed" is going public. they're out. lauren: they have reopened. paused for volatility. up 38%. digital media company. shares began traying through a spac today. big rise in the stock. there were issues after employee
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redemptions, redemptions there were was only $16 million left for the company. stuart: fedex is on the screen. is this its business citiest day of the year? lauren: it is. between black friday and christmas they will deliver 100 million more packages than 2019. stuart: 100 million more? lauren: uh-huh. i thought today was early for their busiest day. everyone started shopping early because of warnings, supply chains. today they're busy. today is the their busiest day. stuart: boss done beer on the screen please. up 5%. i want to know why. lauren: increase by cohen and company. lowered expectations. because of hard seltzer. stuart: i remember that. lauren: they misallocated for it. easy bar. they think all the low expectations are already filtered into the stock price. stuart: i have a fascinating story here, from i think better dot-com, isn't it, a lender apparently. they fired 900 employees just
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like that. give me the story. lauren: this is the lesson of what not to do if you're a ceo. mass terminate 15% of your workforce on zoom, you cried. the decision was so hard for you to do. slam them as being lazy. that is exactly what better.com ceo did and doubled down with the comment he wrote on a blog. ready for this? you guys know at least 250 of the people terminated were working an average of two hours a day while clocking eight hours in the payroll system. they were stealing from you, stealing from our customers who pay the bills that pay our bills. get educated. can you imagine? i cried but no remorse when you blog about mass termination like that discuss a few days before the holidays. stuart: that is one of the most dramatic stories. lauren: good luck getting more employees. stuart: i'm dying to see reaction to this tomorrow morning or later on today. lauren thank you. mayor blast yo for covid
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boosters mandate just to eat at a restaurant. willed incoming mayor eric adams keep the mandates any certainly hope not. we'll deal with it shortly. new covid requirements are in effect for travelers. even doctors admit the pandemic will never actually end. roll tape. >> if we set our sights on going to zero covid, we will never satisfy that. >> the end of the pandemic is a political decision, not an epidemiological decision. stop the panic. stop counting cases. stuart: are these new restrictions necessary? we will discuss it. reversing course, president biden prepares to reinstate the trump era remain in mexico policy. this as we learn that over 2,000 migrants costed into the rio grande valley in just 24 hours. bill melugin has the latest report from the border. that's next. ♪. [clapping]
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♪ stuart: rolling stones at 10:16 eastern time on a monday morning. that there is the blue mountain resort in danielsville in pennsylvania. 45-degrees. got it. check the markets please. same story. the dow is bounding ahead. the dow is up 592 points. boosted by mcdonald's adding 40 points, home depot adding 50, disney 20, boeing 40, apple about 35. within the dow 30, that is why you have got a 589 point gain for the dow. look at tyson foods. they will pay out 500 million bucks in -- i'm sorry, 50 million, five, zero, year-end bonuses to front line, hourly
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employees. investors like it. stock up 2%. sources tell fox, within a 24 hour period, 2200 migrants crossed just in the rio grande valley sector of the border alone. bill melugin is there you have exclusive footage of agents catching migrants smuggled into the u.s. show us please. reporter: good morning to you, stuart. that's right. dhs 2400 people captured in 24 hour period just in october. they have picked up 100,000 people already. up 63% from same time last year. we'll get to the exclusive video. we went out with texas in one of their night patrols with gunboats looking for illegal activity. you see a human smuggler bringing a raft across lands on the side here in lajoya. others remained on the raft.
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moms with young children. if you pull up the second piece of video, texas troopers went into the brush, tracking them down. hiding in the brush, holding them at gunpoint. detaining them, ordering them to put their hands up ultimately arresting them. part of a larger dps operation they launched here in the la jolla area, trying to stop the activity. you can see they brought 30 boats they're talking along the river where the smugglers like to come across. they are doing it as physical deterrent. making sure boats, their presence are there, so the smugglers cannot come across. they're patrolling day in, day out. heavily armed texas dps gunboats with m-240 machine guns. listen what texas dps told us why they are doing the operation. >> we deployed the 30 boats from texas parks and wildlife and texas dps as well.
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the purpose is slow illegal immigrants coming across. large groups of families, unaccompanied children. runners angle adults coming across. reporter: stuart one thing you notice. this is the not federal government. worlder agents are overwhelmed. the state of texas using own resources, launching its own operations in an effort to get the activity here in the la joya area under control. this is the biggest hot spot in the border. biden administration is not getting the job done. they are not taking it seriously. they have to step up to do a job they shouldn't have to be doing in the first place. stuart: the feds should be paying texas for what texas is doing the feds will not do. bill melugin, thanks for being with us. see you soon. reporter: thanks. stuart: republican roger williams from the state of texas and he joins me now.
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you introduced legislation to make the remain in mexico permanent. this is a total backtrack by president biden, isn't it? >> it is. it is great what you just showed the people what is happening on our border, but the trump administration started the stay in mexico policy. it was great policy. it worked, like everything the biden administration has done they want too get rid of trump policy, turned their back on stay in mexico issue. people continue to flood into texas. they have no responsibility. that is why we put legislation together, myself and marsha blackburn in the senate, to make the stay in mexico policy permanent. you have to show justification which can't be shown why you need to support it. we're excited about that opportunity to help our border. stuart: probably will be opposed by the democrat who control senate and house? >> it probably will be. we think we have more support than we think. we started four weeks ago. it is going through the process.
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we have to have legislation like this. we have so much legislation, stuart. you talk about it. two million people in the country end of this year. we don't know who they are. what their plans are. this will begin to slow it down, tell people you just can't come up here and overwhelm border patrol and come into our country illegally. stuart: governor abbott is saying that texas will be quote, the home of semiconductor manufacturing. just watch this, congressman. roll tape, please. >> the state of texas economy is growing and thriving and there are businesses moving here, that are growing here because texas is the land of economic opportunity and innovation. we've been open 100%. there are no vaccine mandates or mask mandates. so, it shows that we can remain open and help livelihoods. stuart: so, is texas going to remain open, always open, 100%, congressman? >> there is no question about it. texas is literally wide open for
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business and governor abbott has done a great job. we got no personal income tax. we have a great business environment. this chip plant that samsung will build out side of taylor texas will be phenomenal, 2000 jobs. it will begin to get america back on track. so we're not relying on for inentities to get our chips and get our economy going again. we're doing the right thing. that is why people are coming here. stuart: you're not popular in new york, new jersey, illinois, california, of course. >> that is okay. we need, the states need to decide what they want to look like. we get a lot of people from california around. they're joining texas values. they're not bringing california values. that is a good thing. stuart: good stuff. sir, thanks for being with us. we hope to see you soon. thank you, congressman. appreciate it. china reportedly considering building a military base on the atlantic coastline. i think it would be the first. where exactly is it?
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lauren: west coast of africa, equatorial guinea opposite the east coast. this is satellite images taken earlier this year where the chinese already built a deepwater port in the country city of bata. the concern china can use the port to rearmoir ships and go after the u.s. east coast. the u.s. is so alarmeds, the national security advisor went to bata in october to reconsider any alliance to china. stuart: have they done that? they're still building it. lauren: they're still building it. stuart: california, you know this story, fascinated by this story, california is facing a surge in smash-and-grab robberies but congresswoman alexandria ocasio-cortez isn't convinced that organized retail theft is actually happening despite all the video. harmeet dhillon, i will call her a super lawyer. she lives in california. what does she make in all of this? she will join me in the
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11:00 hour this morning. president biden took a victory lap for the november jobs report t was the worst month for job creation this year. what is the actual state of the economy? stephen moore will deal with that and he is on the show after this.
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stuart: all right, markets still show a massive gain for the dow industrials. we have got goldman, i'm sorry, mcdonald's, home depot, disney, apple, boeing, all of them dow stocks, all of them up sharply. that is why the dow is such a very strong gain. susan back with us looking at movers. digital world acquisition. that has something to do with trump. susan: dwac, we'll use a lot of acronyms. trump's spac deal, blank check company that will help take mr. trump and his business public. they have received voluntary sec questions, bored communications between dwa, the spac and october 20th deal was
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announced. fin finra was looking at things. dwa, digital network called truth will reach 81 million users by 2026. that is based on register voters they say in the 2021 "politico" poll. i would caveat that. 86 million users is a lot. think about it, twitter, been around for 13 years at 200 million. projected based on political registered voters. stuart: we'll see in that happens. tesla way down. susan: bear market, down 20% from its recent peak. that is surprising. sub-1000 here, reports after sec subpoenaed documents from whistle-blower complaints about solar panels, lack of warning of fire hazards. remember tesla bought solarcity in 2017 and solarcity was run by musk's cousin. shareholders were accusing musk
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enriching his own family using tesla funds. stuart: what about airlines? lauren: american up seven, 8%. wow, that is pretty significant. airlines are up significantly with comments omicron may not be as severe. you heard that from dr. fauci over the weekend. american got upgrade by ever core, worth to them, 17 bucks. you're up above that price. stuart: american airlines $18 a share. lauren: i think the dow is higher and outperforming because you've seen the treasury yield come down to 1.37. i think there is a safety trade with people still trying to get into u.s. government bonds. stuart: definitely. could you call that a flight to safety? susan: absolutely. stuart: jump into 10-year treasury. it is dead safe. the yield is. you get out of risky stocks. why is the dow up 587. susan: as the know the treasury yield come down and flight to quality. apple up 2 1/2%. stuart: rest of the techs not doing well despite the low yield
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on 10-year. thank you very much, susan. president biden said, quote, our economy is making a bit of progress but our financial out look may be more grim than he is suggesting. edward lawrence at the white house. what is our true financial situation? reporter: this is a situation pay no attention to the data but listen to my words. if you listen to president joe biden and members of his administration we're making more so we can buy more. you would also hear from the administration that they have created millions of jobs so therefore we are all back. now the data shows a little bit different t shows that inflation is outpacing wage growth. so we have more money but we can buy less because the cost of everything is even more expensive. still, these are the words we hear. listen to this. >> all told, in the first 10 full months of my administration the economy has created six million jobs, a record for a new president. this is a significant improvement from when i took office in scrap.
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a sign that we're on the right track. reporter: but millions of jobs have been added back, not created. that is still 3.9 million jobs short from the level of february of 2020 which was the product of former president donald trump's policies. now republicans saying president biden did this to himself and words will not get him out of it. >> it is the policies that have been bad. it is the self-inflicted wounds. we've gone from energy independence and to energy dependence. we've gone from a booming economy to you know, gas lines and booming inflation. we've gone from peace in the middle east to an axis of terrorism with hamas launching rockets on israel, iran on the march, and now a taliban caliphate. reporter: we're talking about, talking about the federal reserve removing some accommodation or more of it to the economy that is slowing down or speeding up the tapering, being done by march or so. that clears up the possibility
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of a rate hike because of inflation over the summer. stu? stuart: certainly does. edward, thank you very much indeed. stephen moore, economist joins us now. you want to define right now the state of the american economy, right now? >> well, the labor market is pretty darn good right now, no question about it. if you look at the, the most occupations actually shortage of workers. so anybody with a skill out there, stuart, whether you're a construction worker, if you're an electrician, if you're a nurse or if you're a physician. if you're a delivery person, those jobs are out there. so that is the good news. the problem with biden's line how well the economy is doing, you know, goes right back to what you and i have been talking about this show for the last three, four, five months which is the mounting inflation. what was so interesting about this latest jobs report it showed over the last year,
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stuart, wages are up 4.1%. in normal times that is a great number. 4.1% wage growth is really good, except that inflation over exactly the same time period is up by 6.2% and what that's telling you worker paychecks are shrinking, 2.1% lower than a year ago. because of higher price of gas, higher price of food, higher price of travel expenses are biting into people's incomes. you're feeling it. families are feeling the pinch and i don't think biden has a real solution to that. stuart: goldman sachs has cut its out look for economic growth to 3.8%, this is next year, 2022. now does that mean, are you in line with that, that we're slowing down even though that is a pretty good growth rate but we're slowing down to it? are you in line with that? >> that is pretty high actually to me, 3.8%. i would take it. i hope we could get that i'm a
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little skeptical, when you have inflation like this, it just erodes economic confidence. it is not a positive thing for the economy. i leave by the way, did you see, stuart, cnn had a headline last week how inflation is good for you. inflation is not good for you. just ask people at the grocery store and gas pump. i would take 3.8%. i'm somewhat skeptical. here is the other thing. stuart, you talk about it week after week. tax increases in the biden plan, would raise the tax on investment, on work, small businesses are killers for the economy. no, if we pass that biden plan i would be very shocked if we could get 3.8% growth. you will reduce the supply of goods and services with the higher taxes. you're paying all this money out to people, many of whom are not working, that's going to make the inflation problem worse. i guarranty you, stuart if we pass this 3 to 4 trillion-dollar spending bill, it is going to make the inflation problem much
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worse. i don't care what the biden economists say. stuart: stephen moore, we consider ourselves warned. we'll see you later. >> have a great week. stuart: norwegian cruise ship arrives back in new orleans with several passengers and crewmembers with covid. one crew member suspected to have the omicron variant. we'll bring you story. beginning today, all travelers coming to america must have a negative covid test within 24 hours of the flight. jeff flock has a live report from philadelphia international airport, what is happening there today. we'll tell you after this. ♪.
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stuart: all right. that is still a huge gain for the dow industrials up close to 600 points.
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nasdaq up 50 points. a lot of green across the screen. certainly all three exchanges moving up. beginning today all travelers flying into the united states must provide a negative covid test within 24 hours of the departing flight, regardless of their citizenship or vaccination status. jeff flock at the philadelphia international airport with all of this. what do you have, jeff? reporter: beneath the giant american flag on international a rivals halls, mark spins around, what travelers are greeted by, the most famous words in the declaration of independence, life, liberty and pursuit of happiness. travelers are not happy about this new rule. tick down exactly what it means. first this is for air travelers. not people crossing the border from canada or mexico. it has to be a pcr or antigen test. be careful of the test augite. if it's a home test it may not
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fly, check that out. you may have more than 24 hours actually. they say the day before. if you get tested the day before, in other words if i got tested this morning, i can fly tomorrow night. that is all good. this is anybody, citizens, anybody, anybody age two and above. we're waiting here in philadelphia, as we do, some travel remembers asking the question do we really need to do this? yesterday the surgeon general was quoted yesterday, i quote him exactly, if you take precautions your risk for the new variant could be quite low and your holidays could be quite fulfilling. dr. fauci also saying doesn't look like omicron is that bad. bells the question, is this something we really need to do? it is in place. much i will leave with you a picture of people getting ready for the next international flight with the folks ready for their bags, that sort of thing. we'll be asking the question, how was that procedure. obviously with only one day to get it done, makes it a little
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tougher. stuart: sure does, jeff. you asked those questions, delighted to hear what they have got to say. jeff flock, thanks for joining us. see you soon. here is the story about the norwegian cruise ship that docked in new orleans sunday after 17 people tested positive for covid. doesn't everybody on the ship have to be fully vaccinated? lauren: fully vaccinated? 3200 passenger ship went to several countries. went to mexico, belize, honduras. 17 positive cases including passengers and crew and a probable omicron case linked to a crew member, that according to the louisiana health department. they did everything they could. stuart: okay. the administration plans to fast track revamped vaccines as the variant, the omicron variant, spreads in 16 states. all right, how fast could we get these enhanced vaccines? lauren: the event they need to tweak it by april. so the idea is to give the fda
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the data as soon as possible as moderna, pfizer, test their vaccines against omicron, are they still effective? already the agency officials getting ahead of this. they met with the pharma companies. one fda officials says if we need a revamped vaccine it can go into arms by april, which is relatively fast but i mean -- stuart: long way. lauren: a long way off from where we are. i told you a fully vaccinated cruise ship had 17 cases. this is where we are. learn to live with it. stuart: all mask confuse. that is the way, president biden, here is another one. the president is promising free at home covid tests for everyone. will it be free? lauren: so right now, for the most part if you go to walgreens it is $12 to test. it is like a buck in europe. they're pretty expensive. we'll make sure the white house says that the private health care companies cover this for you, they will reimburse you, testing yourself and kids all the time that you don't spread
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the infection. save the receipts. the rules are not written. is there a limit how many you can buy? the frequency which you can buy them? say you take the at home test, that is negative, does that count at the school or airline? do you have get a more official test at a center, clinic to show what the test is? a waste of money. stuart: a waste of money if you have to have two tests. if you do the home test, authorities, wherever you're going are not satisfied the test, that negates of idea of a free home test. lauren: they need to figure out of quantifying that you took the home test accurately, it was on a certain day or time. i've done this more with my kids. the school doesn't accept at-home test. the school doesn't accept it. i get it f this is the which way we go all the time we need a way to vindicate this. stuart: do you agree sooner other later we have to live with covid because it will not disappear completely? lauren: agreed.
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agreed. 100%. no need to say anymore. stuart: let's talk immigration. immigration provisions in the build back better plan could cause, what? nearly half trillion dollars over 20 years. we'll break down the real cost of amnesty-light provision. we'll break down the real cost of it. that is in our next hour. president biden warns russia not to intrade ukraine after u.s. intelligence reports over 100,000 russian troops are massed at ukraine border. watch this. >> what will you do to prevent russia from invading ukraine? >> my expectation we'll have a long discussion. reporter: putin red line on the -- >> i don't anticipate anybody's red line. stuart: will the president stand firm with putin during their virtual meeting which takes place tomorrow? congressman greg stuebe on that next. hings that matter to you most.
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stuart: tomorrow is the virtual meeting between putin and president biden. u.s. intelligence claims that russia is planning a military invasion into ukraine. they have 100,000 troops amassed at border. republican greg stuebe joins us at the border. he joins you now. could this happen, china
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pressures taiwan, russia pressures ukraine, all because president biden lax creditability. is that how you sigh things shaping up? >> i think the enemies think of this as an opportunity because of the failed biden administration. all you have to do to see an example of that is afghanistan. as you and i have a conversation we still have americans stuck in afghanistan through complete and utter military failure. the russians, chinese, know this administration lacks the fortitude to be move forward to be a strong, national, international defense of other nations so they will do everything that they can because they know they will get away with it. biden allowed the nord stream 2 pipeline project moving forward giving billions of dollars to the russians. he is not taking actions that would inhibit the russians taking this type of behavior. he is actually encouraging it. stuart: do you think our president will be intimidated by putin who seems to hold the military cards? >> i don't think that anything that putin says, one, is going
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to be honest and what is actually happening behind the scenes. our own intelligence is telling us they're amassing troops on the border, which looks like they will invade the ukraine. i don't think anything putin will tell biden will be honest or accurate of the real assessment what their intentions are. i don't see biden doing anything as a strong, russia attacked one of our energy systems here in the united states. what happened from that? was there any repercussions for the russians hacking into our energy systems and shutting down power grids and pipelines? absolutely not. they know the biden administration is weak. there will not be any repercussions for behavior on the international stage. stuart: what happens if america supposed to be organizing diplomatic boycott of the beijing winter olympics next year. they will apparently retaliate in some way. there is another danger signal here, isn't it? >> well, that is a danger signal. members of congress trying to
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say we should pull out, the united states should be pulled out being a part of that. you hear nothing from the administration on that. you have 180 different sorties of the chinese aircraft that have invaded into taiwanese airspace. what has become of that? absolutely nothing. they're testing our resolve. they're testing this administration to see what if anything the biden administration is willing to do to take an active defensive position on our allies throughout the globe. and thus far the biden administration has sat silence. stuart: bret baier of fox news asked defense secretary lloyd austin, if he regrets the afghan withdrawal. here is his answer. roll tape. >> do you have any regrets about the afghan withdrawal? >> bret, i regret the fact that we lost 13 of our finest at abby gate. i regret that we lost 10
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civilians in an errant strike. stuart: congressman what is your response to that? >> complete weak leadership. austin shouldn't be the secretary of defense. when republicans take the house back this fall i think you will see real action, real investigations on the information that they know and they knew at the time. how did the drone run by the united states military attack civilians and kill them? there has been no repercussions from that, the mainstream media and the left. we still have americans on the ground in afghanistan. how you could describe that as a success, which they described it that way, every american knows that was not a success. those 13 servicemembers that died, those deaths could have been prevented from strong relationship in our country and taking the actions to prevent the loss of life. we never should have left the ground in afghanistan while we still had americans on the ground. not to mention the $80 billion worth of military equipment we
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surrendered to terrorists. stuart: you got it. congressman greg stuebe, serious stuff. we appreciate you being here. still on this program shortly, steve forbes, florida congressman michael waltz, california super attorney, harmeet dhillon. there is this, aoc not convinced the wave of retail theft is actually happening. retail leaders say she doesn't know what she is talking about. this is classic example of the far left dragging the democratic party down. that is my opinion and it is "my take" and it is next. ♪. ...
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free decision guide. humana, a more human way to healthcare. >> the more immunity the better. did you get over covid? that's some immunity. did you have the vaccine that's more immunity. the leader of the free world has to follow the exact policy he's telling others to follow or no one is going to follow it. >> at least they are being honest. they no longer want to participate in objective measurements of the truth. they want to be in their minds, in their mind, defenders of democracy. >> that kind of disconnect and this kind of, you know, result of political, poor political
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decisions, is what leads to huge wave elections and i think we're setting up for one. >> you have to be careful about buying stocks i think they are extremely expensive but that clearly is on the hallmark of moving rates higher over the course of the next several years. >> the inflation rates either are going back down or the bond market will come to its senses and trade-off and that will hurt valuations on stocks. >> ♪ been a long time since rock n roll ♪ stuart: oh, why not that's new york city and a rather grey, cloudy day it is 11:00 eastern time, it is december 6, all day. check those markets, please, look at the dow, it's up 627 points, that's its best day since march 5. that's a gain of 1.8%, 600 points higher, s&p up 46, nasdaq up 35. show me big tech because it's
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not all up today, far far from it. these are the stocks that are actually dragging the nasdaq down. microsoft is down, and we have alphabet also on the downside. fractional gains for other big tech companies. bitcoin, just shy of $49,000, big sell-off over the weekend. at one stage it was at 42000 and change. what it was a month ago you're at 67,000 as we speak and now this , when you see rampant crime in the street and looters destroying businesses you know there's a breakdown in public order. alexandria ocasio-cortez does not see it that way. she says, and i'm quoting now, " a lot of these allegations of organized retail theft are not actually panning out. i believe it's a walgreens in california cited it, but the data didn't back it up." the retail industry leaders association says, "respectfully,
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the congresswoman has no idea what she's talking about", and that is true. this is a classic example of the far left dragging the democrat party down. there's crime in the street because of the far left's intense opposition to the police stores are being looted because the far left supports policies that let criminals go free. there's no escaping this. it is aoc's policies disturbing public order, just wait until the massive spending she supports gives us a recession or her green new deal jacks up energy prices or inflation wipes out the earnings of the poor people she claims to represent. my point is this. a o cs no longer an asset to her party, dismissing the break down of public order will not go down well with the public. the third hour of "varney" & company is just getting started. all right, steve forbes joins us
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now, this monday morning. take me on, steve. is aoc no longer an asset to the democrat party, what say you? >> i almost think, stuart, that she's actually a secret agent of the republican national committee. those kinds of attitudes, those kinds of plans she puts out think there, and observations actually hurt the democratic party so i say to her, keep it up. she was a factor of this kind of anti-law and order attitude is one reason why the republicans made such gains and house of representatives in the 2020 elections, and so that's the kind of attitude too when you see on the screen you see it in the streets the break down of public order, that people don't want and they are reacting to it and eric adams, i think you'll see a change when he takes office as mayor of new york on january 1, so that's why i almost think that aoc continuing on that is just there to help the republican party. keep it up, congresswoman. stuart: i'm going to leave it at that i think we'll get a few
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e-mails about this but i don't mind it's a good point. now the mayor of new york city, he's outgoing, bill deblasio, he says he's considering requiring booster shots for indoor dining , concerts and other activities. he didn't give a clear answer on what penalties could be faced but he says the consequences are part of life. do you think this is necessary? booster shots must be taken before you can eat in doors? >> no, he says it's first in the nation this kind of order. it's the first in the nation kind of stupidity, unfortunately , we get too often from these politicians. it is not necessary. this mayor's had a particular dislike, hatred even of the restaurant industry even though pre-covid it employed 300,000 people in new york city yet he has a particular spite fullness to it and this is an example of it, it's not necessary. i don't think it's going to get enforced and eric adams will pull it back when he take office so deblasio is just what a great guy he is and just showing why
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new yorkers are going to give a sigh of relief on new year's eve , celebrate the new year but also celebrate finding new york getting a mayor who wants the city to move forward rather than backwards. stuart: by the way eric adams the incoming mayor of new york city just said he will not support mandates for vaccination in private companies, so, i think he's doing what you want him to do, but before we close it, you're a new yorker, you live in new york, you've lived here all your life. what's the state of business in new york city as we speak? >> recovering, but it would recover more and i think this is where eric adams will play a key role in creating an environment where people feel the city will actually try to help business rather than fight it and crush it, especially small businesses, first thing eric adams should do among many things is bring in small business people and say what are the crazy regulations making your life impossible and make moves to remove those kind of regulations and send a signal new york is truly open for
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business again, they see commerce is the wave of the future, a source of prosperity rather than a villain this current mayor seems to think it is. stuart: we'll dream, we will dream and that's a fact. steve forbes thanks very much, sir see you again real soon. i want to get back to the markets because the dow is having its best day since march 5 of this year. 600 point gain right there. market watcher of this morning is jeff seca who joins me now. this may seem like a strange question, jeff, because the dow is up 600 points but why would anyone buy stock now when you know that the federal reserve is going to raise interest rates at some point in the fairly near future and probably take the market down? >> oh, i agree. i mean, why would you buy but what i think investors are looking at is they're really questioning whether jerome powell is serious about raising interest rates. i look at jerome powell and i see a man whose scared to death to say the wrong thing, do the wrong thing, he knows that the market is addicted to low
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interest rates and the minute he starts increasing interest rates , you're going to have a lot of chips come off the table and the sell-off could be more extreme than people are willing to deal with, so at this point, i think it's investors. i learned a new thing last week which is tina, which is there is no alternative. stuart: we've been using that for a long time. >> i said that this morning and someone said that's been around forever so what i see is that i see that people can't find yield in bonds, there's not enough real estate to buy, so they're coming into this market and they're counting on the fed doing what they've always done which is become a safety net under the market. stuart: at some point that's got to come to an end though. >> of course. stuart: some point it always comes to an end. how about bitcoin? you're a big supporter of bitcoin, have you changed your position at all with a huge sell-off over the weekend?
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>> well that was an amazing sell-off but what i had said when i first started buying bitcoin and talking about it on the show in 2019, was that when the institutions embraced it, the flood gates be opened. when, in fact, the institutions have embraced it but the minute they saw powell low and behold acknowledge that inflation is not transitory, a lot of those same institutions and hedge funds started to take, to create liquidity, sell their winners, and bitcoin got caught up in that. i personally think that it's going to be a wild ride with that. this is not liquid gold. this is a wild speculation but i think it's going to move up from here. stuart: is jeff sica buying any bitcoin at $48,000 a coin today? >> maybe not today but i would buy it continually. i will continue to buy it. stuart: you haven't lost faith in it? >> not at all. i'm a bitcoin guy.
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stuart: crypto sica. i'll leave it at that. we've got a new feature on the show the stocking stuffer stock pick, a stock that you can buy now during the holiday season and which will be strong next year. we're asking all our market guests what's your stocking stuffer, what's yours? >> everybody is so mad at disney. i'm going to come beside them and be their friend. yes, they were down 17% last year with a market that was up 22%, actually down further more peak to trough but they have west side story coming out this friday. i think they're going to turn a corner with the theaters. west side story is just being released in theaters. i believe they're going reverse. they may not see the increase in subscriptions for disney plus but i think that disney is going reverse, and i think it's one of the only true value stocks out there right now, so i would grab it at this price.
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stuart: i saw, i've seen the first and over the weekend i saw the second episode of the beatles "get back" which is of course on disney plus. i thought it was fantastic, gripped by it all the way through. do you think that helps disney plus? >> it does help and when you have someone in the case of the beatles the "get back" documentary, and you have peter jackson and steven spielburg, disney has lots of money to pay the best talent. they have to put everything together and they could dominate once again. netflix is cleaning their clock, as i've said before. they are finally spending some money on development around 30 billion. they need to continue to spend money and they need to grow into what they could potentially be which is the dominant player in the media. stuart: disney at 1.49 is jeff s ica's stocking stuffer for the new year. good luck with that.
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i'll watch episode three of the beatles soon, thank you, jeff. now, let's get back to the markets, and lauren? you're looking at that's a mover , kohl's. lauren: up 9% so hedge fund engine capital which owns 1% of kohl's is pushing them to consider either a sale or separate their e-commerce business and that business, they say, could fetch or could be worth $12.4 million on its own. stuart: okay, lucid, there's real movement there. they are down 9%. lauren: this is the 520-mile per charge ev. they've been subpoenaed by the sector documents related to their $24 billion spac merger. we've seen something similar with lordstown, being investigated because they're rushing to meet their production targets and playing catch-up with tesla and this is a risk to investors because are the ceo's in any of these cases right now in lucid asking in a way to protect investors that has drawn the attention of regulators, so what went wrong here at lucid,
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authorities trying to figure out stuart: show me docusign, please , because i was watching last week and didn't it go way down last week? lauren: they issued a really bad outlook and the stock just sold off and cathie woods said let's buy the dip and she did through her eft. she bought almost 750,000 shares back on fray and sent a note to customers saying docusign is here to stay, e-signature is a big business and she thinks it'll reaccelerate. stuart: i didn't hear any of our guests saying buy the dip, buy the dip today. normally when you got a big sell-off in big tech they say buy the dip but nobody said that today. now despite a rising crime wave, california democrats are pushing for a zero dollar bail policy. they say bail is unfair to poor people, we've got a report on that. >> president biden warning russia, don't attack ukraine, 100,000 russian troops are already along that border. what would a russian invasion mean for us, former army green
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beret congressman michael waltz takes it on. the president's build back better plan would extend protection to nearly 6.5 million illegal migrants and costing taxpayers 483 billion over a 20 year period, we've got a report on that from capitol hill. that's next. >> ♪ (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. ♪♪
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and, the hits won't quit, with peacock premium included at no additional cost. all that entertainment built in. xfinity. a way better way to watch. stuart: you see all those dollars on the screen there? immigration provisions in the build back better plan could cost literally hundreds of billions of dollars, that's worrying moderate democrats like senator joe manchin. hillary vaughn is on capitol hill for us, breakdown the
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numbers again for us, please how much exactly will this thing cost? reporter: stuart it would cost billions and the longer it is in place the more it would actually cost. this is from the cbo score of the house version of the build back better bill. the cbo says the current immigration proposal that would grant essentially parole to illegal immigrants, safeguarding them from deportation says 6.5 illegal immigrants wobble inable under this proposal as written who arrived in the u.s. before 2011 would cost about $115 billion over the first 10 years but if it was extended another decade, the cost over 10 years would more than double the $369 billion, but the biden administration is still waiting to see if the immigration provision is allowed to be included in the reconciliation package so there is a chance that if the senate parliamentari an roles can't include it and it will actually get left out of the build back better bill and senate democrats and house democrats are going to
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figure out how to pass an immigration proposal through regular order which means convincing republicans to vote for it. stuart? stuart: with great difficulty i suspect right? hillary thanks very much indeed. i want to bring in congressman michael waltz republican from the state of florida. let's suppose the immigration thing is kicked out of the reconciliation package in the senate, okay? but the rest of it, it's a monster. how do you stop this tax and spend monster? >> well, so far, stu, it looks like senator manchin is running out the clock. the democrats are literally running out of time this fiscal year or this calendar year, and thank god i never thought i'd wake up everyday praying for a democratic senator but he's standing where he knows his constituents are. stuart: can i just, congressman, can i -- >> a federal department of the daycare and a federal department of elderly care. stuart: i'm sorry to interrupt you, congressman. i hate to do that, but do you
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really think there's a possibility that this build back better plan just dies? >> no, i think they'll end up passing some lump of what it is between the parliamentarian stripping out measures that are policy actions like that immigration versus pure budgetary which is what you have to have to do reconciliation and then what the democrat moderate senators won't support and by the way, stu, i think there are several more beyond manchin and sinema. they have been hiding beneath the radar unless manchin and sinema take the heat from the progressive left but there's others who don't support this as well but the interesting thing is they passed some kind of bill that's much smaller than what's currently sitting before them that has to come back then to the house and will the house progressives then take whatever they can get or will they take an all-or-nothing approach?
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stuart: it's going to be a fascinating two weeks before the end of the year isn't it? >> i just pray nothing in this case, doing nothing is better than what they have proposed. stuart: one more question, president biden is going to speak out about the possibility that russia could invade ukraine roll tape. >> what will you do to prevent russia from invading ukraine? they are reporting they are invading in 2022. >> we're aware of russia's actions for a long time, and my expectation is we're going to have a long discussion. stuart: the president is holding a video call with putin tomorrow , what do you want to hear from our president, congressman? >> stuart, i was just out at the reagan library for the annual defense forum and it was a great reminder that now is the time for strength, now is the time for clarity, and now is
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the time to be crystal clear about what cost we and the west will impose on putin if he does it. this will be the largest land invasion in europe since world war ii if he moves forward with what we're seeing, and it's no surprise, stuart, that this is happening in the wake of afghanistan and it's happening in the middle of winter, now that nord stream two is coming online, putin can starve ukraine and eastern europe by turning off that pipeline and hold germany and western europe hostage by the nord stream two pipeline we've allowed to come on line and why does this matter to everyday americans? well the iranians, chinese, north koreans, the world is watching and if we let this slide wider will be the next chamberlin and that's danger dangerous for the world. stuart: when you use that expression like nevil chamber lynn that means a lot to someone raised in post world war ii,
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congressman always a pleasure thank you very much for being with us. thanks. last week, billionaire investor ray dalio compared china's human rights to strict parenting. good morning, ashley webster. ashley: good morning, stu. stuart: so he was making light of china's civil rights suppression last week. what's he saying now? ashley: well, as you say, compare china to strict parent ing he said when he was asked about the disappearance of disonance. critics expressed outrage calling it a sad moral lapse and accused dalio of framing ignorance of china's horrific abuses. well, dalio responded on social media by apologizing for what he called a sloppily answered question adding he didn't mean to downplay the importance of human rights issues but was attempting explain, as you can see there, the chinese approach about governing, which apparently is if you disagree,
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you disappear. well last month jpmorgan chief executive jamie dimon said he regretted saying his wall street bank be around longer than the chinese communist party. dimon later apologized but apparently you can't say anything about china, especially , you know, because you don't want to upset them, right? ridiculous. stuart: especially when they've got a lot of your money it makes a big deal. ashley: exactly. stuart: we'll get back to you in a second thanks a lot. humanoid robots have always been a thing in sci-fi movies. watch this. >> robots might naturally evolve. >> i was hoping to see you again, detective. think of me as your friend. stuart: scientists just unveiled a real robot with a human face and we'll show it to you too. we've been showing you these smash-and-grab robberies happening all over the country. we'll congresswoman alexandria ocasio-cortez doesn't think they're a real problem, hard met
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>> ♪ you make everyday feel like christmas ♪ stuart: that could be confuse with the christmas tree at rocke feller center. it's that big, it's that good and it's that bright and it's right there, on fox square, right outside our building where we are now. >> almost as big as the present you're going to get me for christmas. stuart: almost. dream on, susan. i'm glad you're here because i want you to update us on the cryptos. >> yeah, so let's take a look at bitcoin because $480 billion was wiped out of the cryptocurrency markets this weekend with about 20% plunge in bitcoin, now, bitcoin has rebounded, i should note, so it bounced off those $43,000 lows, and you have to remember that you're still up 70% on bitcoin this year, comparing that to the s&p 500 which is only up 20% and ether is up 400% but still you have to catchup sell-off with the coinbases, et cetera and
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blockchains as well. stuart: what is cathie woods up to these days? >> well people have said maybe her touch is gone. we went sub-90 this morning with her arc innovation funds so recovering a bit but if you think about it, arc innovation is at a one year low and in fact people have been trying to short some of the stocks she's been picking saying her time is done. stuart: oh. >> tough market. don't you think? you get so much attention you're so successful people want to see you fail. stuart: good point fair enough. keybanc -- >> yeah, so i think we're 3% away from record highs for apple and this is a rush into quality as you know apple has a very large cash flow, which is guaranteed, given there are a billion iphones in use around the world and keybanc says it's worth $191 because of services and people just going on their iphones, you know, to get apple care or listen to apple music and they keep paying the company to do that.
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stuart: i actually just saw buzzfeed went public today. >> that's right. stuart: at $9 a share down 6%. >> yeah, well it's volatile don't you think? now we're back down, and this , what does this say about media in this type of world? stuart: volatility, right? >> that's right. stuart: thanks susan, good stuff alexandria ocasio-cortez says evidence of organized smash-and-grab robberies is "not panning out." she doesn't appear to think these smash-and-grab robberies are real even though you've got the video tape on the left-hand side of your screen. harmeet dhillon joins me now, you live in california, harmeet. what are ordinary folks, not the media elite, what are the ordinary folks saying about this kind of thing going on in the state? >> well you can't deny the fact that we have a rampant crime wave happening throughout california. it's really been much worse during covid but it has been bad in our cities even before that, and right now, during the holiday season, you don't see a single wreath in our
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shopping areas in san francisco. all the windows and doors are boarded up and you have to get through a security guard to shop. it's not very festive and down right scary and so alexandria ocasio-cortez should get out of her little d.c. bubble and experience what the rest of those in urban america are experiencing and it's not pretty. stuart: we have a photographer for the san francisco chronicle robbed at gunpoint while on assignment in the bay area, the suspect fled and a security guard was shot and killed while protecting a news crew in the same area, less than two weeks ago. is this the result of policies from radical district attorneys? >> it's not just radical district attorneys, to be fair, california has passed a pair of laws over the last several years including the so-called safe neighborhoods and schools act, prop 47 which decreased penalt ies for so-called non- violent crimes. what the police will tell you in san francisco is that a lot of
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the arrests they're making are of people who are criminals and they go on to do the type of violent crime that you just described and people are getting killed and injured, and of course, it is injuring business and of course it is injuring the cities themselves and people are fleeing san francisco and los angeles as a result of this , but of course, the district attorneys make it worse because if they're not going to prosecute the crime and in case of our district attorney and george gascon, had prosecuted fewer than half of those arrests it's really a low percentage so the cops are demoralized and then when you add in vaccine mandates a lot of cops are simply quitting or transferring to different states rather than comply with that so we are heavily under staffed and even the ones there are not making arrests and citizens are the ones who are paying the price for this nonsense. stuart: and not changing course, the democrats, lawmakers have introduced two identical bills that were set zero dollar bail
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for misdemeanors and non-violent felonies. we're in the middle of a crime wave. they aren't reversing course at all, they are doubling down on the problem, it seems to me. >> right that right. so the purpose of bail and i've done a lot of bail litigation in california, the purpose of bail is twofold and one is to ensure the attendance of the criminal suspect at the trial but the other is to protect the public. to protect the public balancing side of this has been completely thrown out the door, and this did not happen overnight and it is not the fault of two district attorneys. it is the fault of years of progressive policies a and think tanks investing in litigation that has selectively stripped away the protections of the public through bail, and so the criminals are simply just shopping. they're shop looting in our cities and there are no consequences for this , and out of all of the crime wave you see on fox news and others, many 1% of those people actually get arrested. stuart: is there any sign that this may change? there will be a reversal of this
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whole process? >> i don't see those signs, what i do see is people leaving california at a rapid pace. i think you're going to see that in other big cities as well and i think in inner cities are emptying out in favor of suburbs and other states altogether, but when you have statewide policies like no bail, criminals have cars, in fact, in the bay area they have actually followed news crews to their homes in the suburbs to rip them off there and so really, nobody is safe in california. stuart: i keep saying, harmeet, you know there's plenty of space in florida or texas but you're staying right, not moving? >> right you're speaking to me from new york it isn't much better in new york. stuart: i can't leave, i'm employed in new york and i can't do it. >> same here same here. stuart: such is life. all right come and see us here in new york sometime, harmeet we would love to have you. >> absolutely. thank you. stuart: now this we have an update on the cruise ship that docked in america with 17
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covid patients on board, they unloaded those patients and now they're back out to sea we've got the full story for you. >> your next on line order could be fulled by a robot, e-commerce companies turning to automation to fill the gaps during the holiday shopping season, grady trimble shows us how the robots actually work. we'll be back. >> ♪
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stuart: it was a rotten week for big tech last week, not great this week either, apple is doing very well at 165, amazon is up and meta platforms are up but the rest of them a mixed picture, google is down, microsoft down. no clear trend though, for big tech today. ford motor company $19 a share, they are delaying their return to work for office workers. they were supposed to bring people back on a hybrid schedule
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in january. that's been pushed back to march show me fedex. today, they say that's their busiest day of the year, today is, fedex, by the way, will ship 100 million more packages this holiday season than they did in 2019. that's progress. jobs in the retail sector down 20,000, just in the month of november. well grady trimble is with us, he's at a warehouse in chicago where they are using robots to fill the hiring gap, grady? how do these things work? reporter: stuart they are putting me to work to show you how they work, so the robot found its way to this aisle right by the product that i'm looking for. it gives me this number and series of letters to locate it. it's this pair of jeans by american eagle, scan the jeans, confirm quantity, and off it goes to the next location. brian lemrise is with quiet logistics which operates this
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warehouse. you've employed these robots because basically you can double your productivity with the same workforce that you had before. >> that's right. at a time when the demand for e-commerce orders has never been higher particularly at peak period we're able to add more robots and get more units flowing through the building. reporter: traditionally this time of the year as we watch these zip all over the place, 78 in the whole building, traditionally this time of the year you hire seasonal workers, with the robots in some ways you can keep the same workforce but still fill more orders by bringing more of them on to do the job. >> yeah, more automation means more orders out the door. we're still hiring a lot of extra labor to do the packing part of the business so we're moving people to the jobs that the robots can't get help with, and let the robots folks on the task they can drive efficiency with. reporter: you can see stuart the delicate dance they have to do it's pretty impressive. they aren't running into each other they can see each other. what do the workers think of this because a lot of times when we talk about automation we talk about displacement of human jobs
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>> yeah, sure. it's important that the workers think of the robots as a co- worker. they make their job easier, they aren't having to pull the pallets around, pick-up cart ons as much, just walking productively throughout the course of the day so their productivity is sustained and not getting as fatigued so it makes their job better. reporter: by the way stuart our record number of companies are bringing on robots to help supplement the job, 37% more companies bought robots in the first nine months of this year compared to a year ago stuart: well that tells the story, and now we know how they work and i can see how efficient they are, good stuff grady, great report, thank you very much indeed. now ashley is back with us. you've gotta tell me about these real life humanoid robots. what do you got for us? ashley: well it's time to be creeped out, stu. tech company engineered arts has unveiled amica, a new humanoid robot that doesn't have realistic hair and skin, but can instead show more human-like
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natural looking expressions. in this demonstration, the robot appears confused after waking up and then astonished when he moves his hands and then appears surprised to see , hello, the viewer, or camera, before finishing with a smile. come on just a little smile. the robot has a fully articulat ed head, face, neck, shoulders, arms and hands but critically lacks the ability to walk, although the inventers are apparently studying that capability. amica will make an appearance at the big electronics show in vegas in february. but one word, creepy. stuart: [laughter] just wait until one appears in your bedroom. ashley: [laughter] scary, yes. stuart: let's move on. back to the markets, thanks, ash , look at this with a lot of green among the dow 30, some of them are really big performers which is pushing the dow up to its best day since march 5, 639 points higher. and then there's this too, starting today, travelers coming to america will have to show a negative covid test within 24
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>> ♪ fly like an eagle, to the sea ♪ stuart: that is louisville airport in kentucky of course and it is 42 degrees right there let me update you on passenger traffic at the airport, 2 million people passed through tsa checkpoints on sunday that's nearly the same number from back in 2019 with of course that was before the pandemic began. almost up there. check the airlines too, today starts stricter covid testing for travelers coming to the united states. the airlines mostly higher, not because of that, maybe because domestic travel is doing quite well. now, that norwegian cruise ship, which docked in new orleans sunday, 17 people on board tested positive for covid. ash? they were all vaccinated to start with weren't they? ashley: they were, absolutely. norwegian says it requires all passengers and crew to have been
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vaccinated against the virus, prior to departure, and in this case more than 3,200 fully vaccinated people have been on board the ship but left new orleans on november 28 and made stops in belize, honduras and mexico over the past week. the state health department says a total of 17 people from the ship had tested positive, including a crew member with a probable case of omicron, norwegian says all of the identified cases involve people without symptoms at all of the illness. now, by the way, the ship left new orleans last night but with new rules in effect including a mandate that guests wear a must wear masks indoors except of course when eating and drinking plus passengers will be tested twice during the cruise, as a result of all this , norwegian also offering a $400 credit for passengers and a 10% discount on any future cruises throughout the end of the year, but as we know, the first time around it was the cruise industry, stu, of course that got hit so hard.
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it was basically the poster child for covid, so a lot of concern but norwegian says it's not affecting any future cruises stuart: got it ashley thank you very much indeed. jeff more man is our travel expert and he joins us now. can you update us on the whole field of business travel? has it come back and if so to what degree? >> so no, it has not come back, stu. the industry, for this year, projected they would have a 21% increase over last year, and it didn't even make 14%, and then, with the new restrictions of the omicron variant, a lot more travelers, business travelers are concerned they might get stuck there. what i'm hearing is people saying that what they thought was an overreaction of closing, banning travel from all these african countries even if they're going domestic a lot of people are saying that with these new restrictions, biden extended the mask mandate for
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airplanes from january to march. people are concerned that they might get stranded somewhere by the next big surprise, like the new variant, so business travel is not coming back any time soon and even though like you said, domestic travel is doing well, the airlines had a really good thanksgiving, business travel is where the money is. they need it, and i don't see it until 2024. stuart: oh, repeat that, please. 2024 for business travel? >> yes. stuart: the sting is in the tail. that's a couple years away. >> it really is but if you ask an airline ceo, they will tell you 2023, because they are carrying a lot of debt, take stocks got hit last week, they need it to come back but when you talk to all of the corporations, which i spend a lot of time doing, they're not rushing to get back to business travel. that's why i'm still saying and i've said it on your show before , it's going to be 2024. it's going to pickup more slowly than people think the technology , of course is replacing a lot of travel and here is an interesting new thing , stu. people are saying, you need to
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travel to see your customers but customers are saying, you know what? don't come here until we're sure all this virus stuff is past us, so they're saying customers are saying zoom is okay, you don't need to fly here now, it's going to be a while before we see business travel back. stuart: people are using technology to get around the actual travel. i get zoom meetings that kind of thing, pick-up the phone, that's what they're doing? >> they absolutely are, and the tools are getting better almost everyday, so people are finding that they can be pretty productive. the other thing they're doing that i'm hearing is what used to be a lot of regular business trips they're saying let's just do one trip for the quarter and get everything done so even when business travel starts, people are saying, we'll do less total trips a year, even when we are traveling to customers. stuart: has domestic travel changed at all in anyway? >> well, i mean, it was a good thanksgiving. leisure travelers are known to
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be willing to take more risk. they will book a trip and change it if they have to, they don't have to be there to set time like a business meeting so leisure travel, the pent-up demand is so huge. everybody wants to get out and go somewhere and they are trying but again, there's concern about what the variant means, there's concern about when biden recent ly said that vaccination requirements for domestic travel are not off the table. a lot of people stood back and said whoa that affects leisure travel, if i have to be vaccinated to travel, so people are still concerned. it is impacting leisure travel and more than anything else, people don't want to get stuck somewhere by a brand new restriction that happened while they were already on their trip. stuart: exactly. i was thinking of going to london for a weekend but i might get stuck there. can't have that. >> you might. they just implemented new restrictions. stuart: not doing it. jeff hoffman, you know what you're talking about we appreciate that see you soon, thank you, sir. just in time for the monday trivia question. which mammal can fly?
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ashley, you got it. bats is it. >> i'm on fire. stuart: yes you are. they are the only mammal that can fly. there are 1400 species of bats in the world and some bats can reach speeds over 100 miles an hour, so our producer tells us. bats the only mammal that can fly. ashley, you're going all right. i will go straight to my colleague for david asman sitting in for neil cavuto today to say, thank you very much for all the hard work you did last week. david: my pleasure. stuart: however i noticed ratings went up when i was out, you were in. you sir, will never sit in this seat again. david: that makes me feel good i did what i wanted to do covering for you. i got to tell you, your staff, i can't talk enough about your staff.

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