tv Varney Company FOX Business February 22, 2021 9:00am-12:00pm EST
branches in 12 states on the east coast. big deal in banking. i want to thank dagen mcdowell and brian brenberg, great show. great to see you this morning. have a great day. we have another big show tomorrow, so be here tomorrow. "varney & co." begins right now. take it away, stu. stuart: i shall, indeed. good morning. who would've thought we would start a program on a monday morning with elon musk and bitcoin, but that's where we are. elon musk steals the spotlight yet again treating back to bitcoin prices quote seem high. that was enough to bring bitcoin down from a high of the $50000 over the weekend to around $53000 now. his tweets brought dogecoin down last week and look what he's done to bitcoin, $52000 as we speak. an investment firm says
tesla may have already made more money from its one and a half billion dollar investment in bitcoin they had it made to selling car's appeared tesla is down to have%. we have the pullback of stocks overall this monday morning with the dow jones industrials down about 140 points, but 40 points of that is accounted for by boeing which has engine fire problems. they are down, taking the dow jones about 40 points down. s&p, nasdaq also on the downside. what is the problem here? the fear of inflation, which is driving interest rates up. 10 year treasury yield now 1.35%. debate begins on the $1.9 trillion covid relief bill this week, that's a lot of spending and that adds it to inflation fears. i have to say, our hearts go out to the people in texas. recovery has begun, power is mostly back on,
but millions have no water. what failed? renewables, fossil fuel supply, policy? the debate is time we are in the middle of it. we must include this in the top stories the day, real progress against the virus and the latest two-week period new cases down 44%, death down 33%. covid is in retreat, good stuff. "varney & co." is about to begin. ♪♪ stuart: okay, good lively stuff to get us going this monday morning again with the stock in a somewhat in usual fashion. bill gates says climate
change will be more deadly than covid. here he is on fox news a sunday. roll tape. >> if we wait 10 more years, it's not as bad as if we wait 20, 30 because the temperature just keeps going up and it's going up more rapidly than it has in natural history, the instability overall will be five times the deaths at the peak of the pandemic is going up every year. stuart: you will hear "my take" on the pierce accord which we have gotten back into it what looks like cave into china on the issue of climate. got it all later. check in the markets because we are looking to the southland, down especially on the nasdaq , looks like big tech is in trouble down 166, nasdaq. keith fitz-gerald adjoining ounces monday morning. inflation fears, i think that's what's taking the market down this morning what do you say about inflation fears? >> agree 100%, but they
are overblown and here's why, people are concerned about the fact we may have some, but they forget it's a sign of things to grow ahead of time. the limits at which equities and bonds will the parties to the claimant three or 4% arena and we are a long way away from that, historically. again, i think it's overblown if you have the right companies in the portfolio. stuart: okay. your point is always been if you have a significant dip in big tech you buy that dip. we have a big dip-- a dip at least in big tech at the moment. will you buy in today? >> absolutely. i have my eye on apple, microsoft and i even have my eye on tesla, all great companies that will be out changing our world over the next five or 10 years, so buy low and self high. that's how the game works, inflation or not. stuart: hold on for a second, please i want to talk with susan about bitcoin. elon musk now says the
price quote does seem high. what's he up to? susan: bitcoin prices are falling back after almost cropping through 59000 sunday, incredible but elon musk is now a crypto crusader so he says he believes the price of bitcoin and ethereum do seem high lol, which means lots-- lots of laughter and even you know that. both cryptocurrency's hitting record highs last week appeared tesla also bought in one and a half billion dollars worth in bitcoin which was a big talent for bitcoin pricing. the tesla analyst believes tesla has made over a billion dollars of its bitcoin purchase already, not the first time in elon musk has pushed the price of the company or investments he makes sense, but we know dan eyes says tesla
bitcoin investment, billion dollars more, more than the entire amount of sales for tesla cars last year. stuart: susan, i thought let lol was laugh out loud, but what do i know. susan: interpretation. stuart: exactly. hold on. to go back to keith. i want your thoughts on elon musk, bitcoin and yes, you just said you like tesla at 750. go. >> i even have one more, i bought bitcoin last week so in order i think elon musk is probably the most intelligent, most forward-looking executive on the planet and if he's talking about bitcoin high come he didn't say seller that it was expensive, he said it was high and that's a statement of price, so i think he will create more demand. every time he drives something down it goes far higher and i'm not guaranteeing that will happen this time, but i think there is enough technology backing now that it's a viable concern as far as asset allocation goes.
it makes sense to own bitcoin, which is why i bought last week. stuart: i was just going to ask why did you buy bitcoin. i thought you were kind of opposed to it and wouldn't touch it, but-- what single event turned you around so that you bought bitcoin? >> there is a combination of three things i'm thinking about. number when the gold trade has largely been busted because most speculative energy went into bitcoin and also the technology behind bitcoin has nothing to do with acceptance or other things that proponents talk about. you have major institutions moving into because they have got to be in it. that means there's depth and the third thing is if you are truly allocating assets than it makes sense to hunt for additional stored value when it matures. that's all i'm doing. are not buying it because i think it will go higher, i'm buying it because the depth is there that i need to see as an investor. stuart: is bitcoin the new gold? >> i think it is and has
been that way for long time. again, gold we just lived through the greatest pandemic in history and it has stored its value, but it did not skyrocket like everyone thought it would, so to me again when i said the gold trade is busted on not saying it's bad, you still need to own gold but not what you thought it was. stuart: okay. i have 30 seconds. would you buy ethereum, would you buy dogecoin? >> no and now because the institutions are moving into those the same way they are moving into bitcoin so i'm looking for liquidity, institutional background , that's the depths i want and the rest are still speculation at this point. stuart: we just moved south of that further, 519 on bitcoin as we speak. we will see you soon. let's get to the boeing story. the faa is ordering united airlines to inspect all of its triple seven jets after one of their plane engines caught fire and
keep apart over colorado. i think we have this on tape. debris that fell into someone's backyard. susan, some of these planes are now grounded. for how long? susan: until the sections are done by the faa and in japan grounded until further notice. united said they will remove 24 bit spelling triple sevens with a specific engine. united is the only us airline to fly the triple century-- triple seven with that engine type. thankfully no one was injured on this flight that carried 239, but federal investigators say to them the right engine fan of blades broke off. take a look at the premarket with boeing shares down in reaction to this incident. stuart: latest count, susan
because boeing is a dow jones stock and it's down 2%. it's taking 33 points off the dow industrials, so without blowing the dow jones was still be down about 130 points. susan: better than what it was three hours ago in the premarket. stuart: that's right and as i recall getting out of bed i saw boeing down about four or even 5%; right? susan: in the dow jones was down almost 200 points as well, so a bit of recovery and it's good news for the open. stuart: lets grab hold of that. thank you. do you remember president biden very high praise of new york governor andrew, of the pandemic watch of this. >> i think governor cuomo-- capable. i think he's doing a hell of a job. i think he's doing an incredible job or governor of new york has done one hell of a job. i think he meets the gold standard. stuart: well, well, now that
biden administration is trying to dodge any question on cuomo's leadership and of course we have the story. futures project we are going down this morning, but it's not a huge selloff except the nasdaq is way down, was the cause of this too much spending come down the pike? i will ask economist steve the more after this. ♪♪
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means big tech is probably selling off. yes, it is, down below 130 on apple, 127. amazon down one and have -- down 1%. across the board here, microsoft is down $3: 237. big tech is down and then there is this, susan collins joins senator joyal mansion to oppose senator biden's pick to lead the office of management and budget i would imagine this puts the nomination-- that puts her nomination is jeopardy doesn't? susan: definitely. given democrats have a slim majority in a 50/50 senate they cannot afford to lose to democratic votes and susan colonize is a moderate from that-- is she is a moderate from maine and she said she will vote no. she also pointed to past week on social media posts as an example that she has now erase those past posts, but sharply
criticized susan call it, mitch and bernie sanders and previously tweeted collins was quote the worse, so maybe not the best way to get your nomination through. stuart: i didn't know she criticized bernie sanders. i thought she was on the left, not necessarily with him. susan, let's see what we have now, inflation, we are told it's on the way and i can tell you that commodity prices are already moving higher, agricultural products for example up and look at oil. lawyerly still close to $60 a barrel, and the price of gasoline is $2.64 the national average, that's up 24 cents from one month ago. let's bring in the aforementioned economist known as stress-- steve moore. several questions wrapped into one or do we need on this extra spending, $1.9 trillion to meals package? will it be inflationary?
>> i think you know the answer to that and what my feelings about it we don't need to spend 1.9 trillion. there's a trillion dollars already in the pipeline that needs us that. great article in the "wall street journal" showing we are going to have vast majority of americans who want the vaccine will have it available to them by mid to late april, that's a game changer for the economy. that's the stimulus and i have set it week after week, the stimulus to the economy as the vaccine thanks to operation warp speed in your question of do we have to worry about inflation, i like what you are talking about. as you know when i was nominated to be on the board was one thing i said that was controversial, but i still stand to this, the best lead indicator, stuart, of where prices are headed is follow those commodity prices. look at what's happening with oil and wheat and corn and copper in all those commodities and they are pointing
upwards. i'm not saying we will runaway inflation like the 1970s, but i'm worried about the increase in prices. as you said, $60 a barrel of oil, doesn't it seem like yesterday was $30 a barrel, so those are big increases. they are the result of excessive money with another big story in the "wall street journal" this morning talking about them to grow, the money supply is growing at the most rapid pace in a long time. stuart: if you look at long-term interest rates as of this morning, 1.35% on the 10 year treasury, i have to believe it's going to raise mortgage rates that currently i think the averages just below 3%. i could see it going about 3%. that hurts the housing boom, doesn't it to make it does. let's talk about the tenure because that's interesting where up to -- what did you say it is? stuart: 135, yes-- 1.35.
>> last urine can get hit .6%, so that's a pretty big increase. 1.35% is still low, much lower than we are used to, but the direction, stuart, the direction is what's troubling me. the other thing i would say is that when you have the interest rates rising, you are spot on correct that affects the mortgage. we had the hottest real estate market in decades this year, everyone is buying homes and in florida you can even get a home, but if those interest rates pickups you know rates have a big impact on the price of housing and the ability for people to afford housing the. stuart: is a very significant. a move. i remember in the early 1980s long-term interest rates were up nearly 20%. it came down and down and down for 40 years. of the low was about .6%
on the 10 year and now, we are starting on the other side. is this the start of a historic move to the upside long-term rates? >> i believe it is, although i have to say i have been wrong i have been saying we would have higher interest rates for a long time and they have been low so it's difficult to predict. we are still sucking in a lot of capital from the rest of the world keeping interest rates low in the us and it's a blessing, by the way. also, which is so important as we have right now somewhere in the neighborhood of a 26 trillion dollars national debt. think about what this means. every time you see interest rates pick up, who is the biggest loser? united states government because we are the biggest debtor, so this is a big problem with respect to our budget. imagine if you are correct in the interest rates go to my 3%, imagine the cost that has on the federal government, talking about chilly's of
dollars additional debt. we have to be careful in the worst thing we could do now is add another $2 trillion to our debt with this. terrible idea, very negative for the economy stuart: we are going to do it. stephen moore, thank you. see you soon. i'm going to the subject completely to talk about insta cart grocery delivery business exploring the use of robot driven warehouses at what we about this? susan: we know san francisco based insta cart is currently using more than 500,000 workers in its turn into robots for some of their warehousing services meaning they will not need individuals to fill those positions. specifically automation of economy we are in and it's interesting they may move to robots whereas walmart actually ended their pursuit of using robots to stock shelves in their thousands of stores across america, so every company is different. amazon is moving towards automation as well.
stuart: got it. thank you. quick look at futures and shows you how the market will open this monday morning and i feel awful lot of red. we will cover it for you after this. ♪♪ [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up.
stuart: lots of the red ink on the markets this morning especially the nasdaq, down about 200 points. delicate bitcoin, moments ago dropped below $50000 per coin and it's right at 50 grand. want to bring in david nicholas, wealth management kind of guy. i'm going to come at this a different way. how do i buy bitcoin without actually buying bitcoin itself? >> great question i mean seems like everywhere you turn people are talking about bitcoin, but if you are looking at bitcoin trading $50000 a coin you may be saying you are crazy trick there are indirect ways to do it, you can buy financial companies or any bitcoin like paypal, square. we own paypal and it
introduced it to their platform and their user engagement is 50% and you can buy nonfinancial companies. micra's data g, company now owns bitcoin in both prices have done well but i like earnings when my favorite ways to own indirectly by owning the mining companies mining for bitcoin because their earnings are directly related to the price of bitcoin. bitcoin prices go up and mining company earnings will go up and those are ways to indirectly benefit from that exposure. stuart: hold on. i can see you trying to block chain, which is the underlying technology for bitcoin down $10 this morning. they are at $60 per share, down 14%. you go anywhere near bitcoin and you will have extraordinary volatility, don't you? >> great point, absolutely. it's not for the faint of heart and you need the right response to
invest in anything related to bitcoin. we paid $20 a share for riot in its trading around $60 a share. it seen a massive run-up if you have risk tolerance it could be a good buying opportunity. stuart: real fast, we can see a lot of spending coming down the pike. you can see in a mile off, 1.9 trillion etc., how do you plan the stock market this wave of his spending coming at us? >> absolutely. my big-- if you look at the rare metals etf it's up over 40%-- 30% year-to-date and with the amount of infrastructure needed for roads and infrastructure we will need a lot of construction spending and we will need metal for that. between infrastructure spending, electric cars and even getting off of some of the oil we are trying to move to clean energy, wheel energy, materials and metals will all do well this year, in my opinion and that's the best way to play it from my
standpoint. stuart: david nicholas, thank you. plenty of red ink on the left-hand side of your screen or there will be at the moment. they are about to ring the bell. not a gigantic selloff by any means, but the nasdaq will be down sharply. here we go. we are off and running and right from the start down over 200 points. i should tell you boeing is a dow jones stock and its sharply lower. the boeing stock accounts for about 40 points of the loss for the dow industrials. without that we would be down about 140 points. s&p 500 also on the downside to the tune of .7%. nasdaq, this is the big loser down one point-- 1.1%. it's largely because a big tech. show me that because we are down across the board there. microsoft down 355, one and a half percent.
similar losses across the board except for apple which is down a quarter of 1%. big tech way down today, so far. in stop-- gamestop from the recent past of last, 14%. wise it up today? susan: infamous reddit trader keith gill doubled his stake in the videogame retailer to map 100,000 shares. gill buying an additional 50000 shares and now holds gamestop shares worth about $4 million and remember he's the defect oh leader of this reddit rebellion brigade and during the hearing last week he said he still lacks game stock and it even surprised him it rallied to the mere 500-dollar per share level. stuart: 's there is the headline i didn't expect this morning. i want to talk about tesla.
we just mentioned bitcoin has dropped to $50000 a coin and tesla owns a chunk of bitcoin, is that why tesla is down? susan: i think so because i've been searching for news and i carefully find anything that's market moving for tesla so that thinking is it may be a rotation because the treasury yield is back up to their highest in the year so rich reward calculus have changed and maybe want to take profit out of tesla but also bitcoin price is down about 8% this morning after breaching 59000 just yesterday and we know tesla in the some ways has been a bitcoin play because now they own one and a half billion dollars in bitcoin and that's a good thing according to wedbush. tesla analysts says tesla will-- has actually made a billion dollars off its a bitcoin purchase meaning he says tesla is on track to make or from their bitcoin holdings them from actually selling electric tesla
cars in all of last year, 2020. how incredible is that? stuart: who would have shot-- thought we would lead the show with elon musk, bitcoin in gamestop. susan: modern world 2021 here we are. stuart: you are correct. hold on. i digress for a moment. there's consolidation in the tire industry. i'm waiting for consolidation of the auto industry that i believe is coming, but what we have here is cooper tire up after being acquired from their rival goodyear. cooper up 21% this morning. i went to talk about discovery, seems to me they are brilliant pandemic play or can they have done well from the pandemic, i think. earnings are out this morning. susan: i think they have done well when it comes to streaming so the cable channel earning more money, higher sales in the quarter and a streaming is a big tailwind discovery says discovery plus streaming on pace
not to have 12 million subscribers by the end of the month. remember discovery plus was only launched at the end of last year. executive said discovery sounds bullish when it comes to streaming say they expect the service to have an addressable market of the 70 million domestic subscribers and 400 million globally. this world is now a streaming media world that we live in. stuart: and it's a global marketplace, i mean, you can have hundreds of millions of customers for streaming service coming out of a small amount. fascinating. i believe there's a group of investors, activists that want to take over the board. susan: kohls was one of the favorites of the place, so a group of private equity firms now control around nine and hal percent of the retailer and "wall street journal" reporting
this group is attempting to take over the board of directors and this is the same cartel of private equity companies that teamed up to push for change at bed bath and beyond both of these stocks were part of the reddit brigade that we enjoyed us on the saga plant with gamestop a few weeks ago but it's also brick-and-mortar retailers that need change in these private equity companies and to bed bath and beyond pushing for some sort of diversification may be online sales and they think that with kohls as well. stuart: at the time the market frenzy, you buy into kohls and that would be irrational strategy bearing in mind what's happened to the actual underlying company, i mean, i see that as a rational strategy as opposed to gambling chip. susan: we will agree to disagree on that. again, he went to about earnings?
stuart: no, want to talk about cruising. how do you make money in the cruising business when you can't fail coming because we have royal caribbean that just reported peer did they make any money? susan: no. $5 billion in losses for the entire year. i saw a billion dollar loss in the final three months of 2020 and they say they will probably keep their cruise ships are sure for sometime in the the recovery and it's not coming along as fast as they had hoped for. we know carnival cruise lines the one that is ahead the most with their foreign ships sailing as opposed to norwegian which has canceled all itineraries and tell they. they're looking for booking trends to recover and 2022 so don't hope for a quick recovery, maybe next year is when people will come back on board those ships. stuart: another group of stocks which is doing well is the airlines and i'm pretty sure they are up across the board,
you doubt plenty of and i know it's going on. and they will get $15 billion out of the covid relief plan. am i right or am i right susan: i think it's also deutsche bank upgrading pretty much the entire airline sector, so delta in their view is worth $55, american airlines worth 23 and united were to 60, jetblue, this is a buy on recovery play meaning cases of covid are coming down with more vaccine distribution and more hope that people will get onto planes and fly fly again hopefully sooner than anticipated. stuart: we will see. thank you. quick check of all the markets with the big board showing a loss of about 130 points, .4%. 31300. 10 year treasury yield has gone up to matt 1.35% with the rise in long-term rates of-- upsetting a lot of stock market investors. price of gold inching
back above $1800 an ounce because of inflation fears, but bitcoin after elon musk said it's a little high comes to $52000, down $3 as we speak. the price of oil, $60 per barrel meaning the price of gas continues to rise rapidly. $2.64-- sorry, $2.63 national average for regular 24 cents from one month ago. new york's mayor tried to shut down trumps ice-skating rinks in new york city. there was outrage about that. well, now the mayor has backed off. fascinating story and we have it for you. senator schumer is mocking texas over their deadly energy crisis. look at this. >> the bottom line is texas thought it could go at it alone and built a system that ignored climate change. i hope they learned the lesson the.
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stuart: the markets are premeasured down across the board especially the nasdaq, but we have some winners and i will start with the winners among the dowd 30 stocks. chevron, doubting, morgan, disney, american express on the upside with winners among the 500 stocks in the s&p as well. a people's united financial is a standout up 11%. american airlines will get some money from the government and so are the rest of the airlines , they are all up. there are some winners.
canada is taking a page out of australia's playbook taking on facebook to tell me more, susan. susan: is similar to astoria facebook and other social media companies should put paid news organizations for their news with canada vowing to make facebook page after facebook blocked news sharing in australia to circumvent the new law. canada will unveil similar laws in the minister and charges that they they will force facebook to pay. 10 to 15 countries are looking to adopt similar measures. that will force facebook and google to pay for news, france, australia, germany, finland as well as canada and australia. france's prime minister said regulation of a digital sector is key for democracy so watch out for those words. we know france engaged in a digital tax trade war with the trump administration ultimately putting off taxing big tech
companies like facebook come about francis forcing big tent platforms and now to negotiate with publishers to pay them for their news content so it's not ending in australia and the fact that it worked in one country it will take the law around the rest of the world. stuart: interesting and facebook is down 260. senator schumer truly blasting texas for and i'm quoting ignoring climate change. roll tape. >> the bottom line is, texas of thought it could go at it alone and built a system that ignored climate change. it was not what is called resilience and now texas is paying the price. i hoped they learned a lesson. when we build anything now we have to take into account that climate change is real or people will be caught the way the people in texas were. let's bring in joe mastrangelo the ceo of us energy enterprises which is a clean energy company. senator schumer says
texas ignored climate change, but you know they get more power from wind than virtually any other state. would you say that texas ignored climate change? >> stuart, thank you for having me on. i think that's a bold statement and i think it's too soon to say what happened. i think there were many compromises across the complex system and i think saying ignoring climate change, i don't know that i would agree with that. stuart: in your opinion, was the problem in texas? is a renewables or fossil fuels or is it state policy? >> i think it's a combination of many things i think it's a too soon to say what's happened. we have to look back and think about how to make our systems more resilient. i do agree with senator schumer on that and i think one way you do that is by bringing cost-effective longer duration energy storage. would not have been the solution to the problem
we saw in texas last week, but would make under normal operating systems are systems more resilient and less reliant on big spikes in demand and supply. stuart: is that with eos energy prices focuses on, you create the energy from renewables and then you need a place to store it like batteries. is that with it-- you are all about? >> that's exactly what we do not just energy from renewables. basically we are taking excess energy at the time that there's no demand and i think we have to look at globally every year the energy system for the world, it wastes as much energy in the demand for texas as one year and it's about capturing what's wasted today, storing them and bringing it online when it's required and that's what we do and we do it in a way that we design a product that will withstand extreme temperatures. we have designed something that is safe and reliable and will
allow us to shift power from anywhere from three to 12 hours, it's pretty special. stuart: you say you have designed something, is that something and battery? >> it is a battery, but a battery would then energy storage system, that's right so the battery is the chip in the computer and we designed the entire system allowing you to integrate with of the grid and the supply and demand required. stuart: because if you-- consult the storage problem of really sold-- solved a lot of problems as well because you can have windmills all over the place storing energy for when it's most needed. how close are we to a real system that really works? >> so, we have been in business for 12 years and we are now producing product out of our facility in pittsburgh pennsylvania. we started shipping and we will scale up over the next year and half to get to the point where we are putting a gigawatt hour of storage
on the grid around the world per year. stuart: okay. joe, fascinating. come back and see us. i see your stock is up 3%. very interesting position that you are in thank you peer. >> thank you, stuart. stuart: i love showing you this. positive covid news. new cases down 44%, death down 33-- 32%, so why do we need another $1.9 trillion in covid relief? you will hear "my take" on that at the top of the next hour. president biden said to lay out his plans to reform the paycheck protection program for small businesses we will tell you what that means for you next. ♪♪
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i hope my insurance pays for it. can you tell me how much this will be? - [cashier] 67. - sorry. - wait, have you heard about goodrx? goodrx finds free coupons to help you save up to 80% on your prescriptions. - wow, i had no idea. - [announcer] goodrx, stop paying too much for your prescriptions. stuart: the ppp program designed to help small businesses: changes coming. blake berman with us now from dc. what changes will we see
today, blake? >> the biggest change is coming from the biden administration has to deal with the smallest of businesses because starting wednesday, there will be a two-week window upon which only businesses that have under 20 employees will be able to apply for ppp loans. here's the thinking behind them from the biden administration, one official saying in part quote during the two-week period we want lenders to be focused on serving existing clients under the 20 employees category. then, going out proactively to find new small businesses under 20 employees to help so if you are wondering what about the companies that have more than 20 employees who might want to apply for ppp loans come a well administration notes with the two-week window and you are like ethanol march. this ppp program expires march 31 so there will still be a few weeks runway time for some of the larger businesses. by the way, right now ppp paycheck protection
program, there's about $150 billion or so of unspent funds potentially for companies to claim. stuart: blake, are you cold? for the past 10 days you have worn a scarf and a topcoat. you look like you are freezing. >> i was born and raised in miami, florida, so i don't know if you can see it, but we have a beautiful backdrop, i mean, this is beautiful like of all the live shots i have done, this a backdrop is up there, batman is it cold. [laughter] man is it cold. stuart: you are a good sport. wrap up well. to the markets, please peer we are on the downside. coming back a bit. by the way, boeing is down with an engine fire problem taking 27 points off the dow industrials. show me microsoft, that's also a dow jones stock down when and how%
♪. ♪ can't buy me love ♪ stuart: can't buy me love, that true? let's check emails on that. good to have the beatles playing not live but battles at the top of the 10:00 hour. it is 10:00 on the east coast. straight to the markets. it is not as bad as it was when we opened the market. the nasdaq has come back a bit, it is down .9%. bitcoin down 2000 bucks at $53,000 per coin. elon musk says the price seems a bit high. what is this guy up to? now the thing is down. it brings down dogecoin, bitcoin, having bought it. what is he up to? look at this. incredible really, really good
news, cases down 44%. deaths down 32% over the last two weeks. that virus is in retreat. leading indicators, this is a now ward looking indicator for the economy. what do we have, susan? susan: in line growth. this is great indications how well the u.s. economy is recovering, up .15% trot month of january and month over month figure, meaning how january is doing compared to december and that shows a lot of recovery. stuart: that is pretty good i would say. modest impact on the market at the moment. the numbers have just been released. the dow is down just 100 points. susan: a lot better. stuart: that is a positive, susan? susan: absolutely. i think it's a positive. it shows the economy is on pace for recovery. we had goldman sachs last week raising their outlook to the highest on the street. that is over 7% gdp growth this year. 7% is almost three times the average we've seen over the past
decade. there will be a lot of pend up demand and lot of recovery and hopelily lot more money to be spent when the lockdowns ends. stuart: when the $1.9 trillion hits the road that will be a lot more money being spent. thank you, susan very much indeed. everybody, here is the cue. now this. we love to report what the establishment media relegates to the backburner. look at this again, please. this is such good news. new cases down 44% in the last two weeks. deaths down 32%. vaccine have arrived. we're jabbing, so to speak close to two million people a day notwithstanding the storm. this virus is in rapid retreat. so why do we need another $1.9 trillion in covid relief, on top of the trillion already approved but not spent? the answer is, much this latest package is not about covid relief. it's about bailing out failing democrat states and promoting a
radical democrat agenda. for example, the $220 billion allocated to the states will be based on the latest unemployment numbers. no surprise. california and new york, two big lockdown economy-destroying states will get the most money. they have the highest unemployment rates. cuomo and newsom delivered the states to joe biden in the election. now they will be rewarded with billions. 129 billion has been set aside for schools. whether they open or not. most of this money will be spent over the next six years, after the pandemic is over. the teachers union which seems to have very little interest in educating our children wins again. they get a lot more money whether they open and educate our kids or not. what we're looking at here is vote-buying, bailouts and vast amounts of money foreactivist groups pushing progressive radical policies. seems nothing changes. after the financial crisis
president obama rolled out a 900 billion-dollar quote, recovery package t was ineffective and politically motivated. now we're into packages worth trillions of dollars even though the virus is in retreat. it is all about looking good in 2022. never let a crisis go to waste. the second hour of "varney & company" is about to begin. ♪. stuart: all right. monday morning dennis gartman has a hot to say about the markets and fortunately dennis gartman joins us right now. now, all this -- i think there is a huge spending surge that is about to hit. i think we'll get an economic boom. then what, dennis? make your point. >> there is no question we'll get an economic boom. the economy will be demonstrably
stronger? year than last year. stronger in 2022 than 2021. the money coming at us from the government,ed get. i couldn't agree more what you said. we'll be spending far too much money doing something that probably would be taking care of itself without the aggressive $1.9 trillion coming at us. i couldn't agree more what is going on with the school system. i couldn't agree more with what's going on with california and new york. they're getting paid for what they did wrong. but we're going to have a strong economy. the question shall be, what will that do to the stock market. i am not bullish for stocks. i have been a month or so i'm turning more bearish as days go go on or weeks go on. what the stimulus money that come out going into plant and labor instead of stock price. it made its way into the stock market. it will go into plant and equipment and labor always happens in the past, that is
always economically viable. that is what will happen. i think stock prices are extremely high. but i think the economy will be much stronger in the coming months than the past year or so. no question about that. stuart: a lot of people are borrowing money to buy stocks. professionally that is called margin debt. i understand that. but i think this margin debt borrowing to buy stocks actually at and all-time ohio right now. so you point out to me the dangers involved when you got such a high level of borrowing to buy stocks. >> the basically the public has come in borrowed at margin. whenever you get margin numbers per to go with this pair roll i cannily high we were double what we were at the last parabolic high at the turn of the century with the.com era. margin went up to 400 billion. fell to 200 billion. now almost $800 billion in margin usage at an all time high that will be reduced. there is no question about it. the public is borrowing margin.
the public always borrows margin its largest a at peak of market activity and liquidates when the market goes down. i'm concerned that the margin debt is all-time high, never seen numbers like this before, this always ended sadly. this will end sadly. always had, always shall. it will do it aagain. i'm afraid this is the hallmark of history. stuart: there are some eternal truths. there are there if you dig for them. dennis, found them all. >> thanks for having me on. stuart: sure thing. turn to president trump, former president trump, donald j. trump, he will make his first public speaking appearance since leaving the white house. he will be at the cpac conference coming this sunday. sean duffy is with us this morning. sean, i have two questions, i will wrap them into one. what do you want to hear from
president trump and what are you expecting to hear from president trump. >> good question, stuart. so i think you will have an energetic enthusiastic president trump this is the first time he has come out since early january. i think a lot of people will tune in to this. i think this is make america great 2.0. joe biden reset the landscape with his policies and executive orders. i think president trump will come back out and talk about china, how america pushes back on china, border security, american manufacturing. he will talk about schools opening. i think he will talk about the pro-life issue. you heard all of these issues before, stuart, but i think there is a new context to what president trump used to talk about, what he will talk about because joe biden has changed so much. joe biden has globalist set of ideas and donald trump is going to push back on this theory we should put america first, american workers first and because of that, it will be a barn-burner after speech. i also want to hear, one last thing i want it know what trump
is going to do. is he going to run again? is he not going to run? where is he going with his political future. stuart: if he comes out with a barn urner speech putting out what you need to do in america to make great again, if he does that he becomes or tries to become the standard-bearer for the republican party going into 2022 and 2024. that is the kind of speech you're outlining. that is the position you're outlining. do you approve. >> well i do approve. i will tell you there are a few elected officials who are not really on the trump train but in most of america the voting base is still with president trump. they want to hear from him. i think a lot of republicans, a lot of trump voters feel lost because there hasn't been a real leader to what is been happening over the last two months. they want to hear from the former president to talk about where this country should go, where this movement should go. whether president trump runs again, i think he is the standard-bearer. he is the one that republicans will look too for ideas and
vision for where this party should move. they will not look to mitch mcconnell and other leaders. they're looking to president trump. again i hope he does run again but that has yet to be seen. hopefully he will give us some indication he will whet our whistle with this speech what he will do. stuart: that will be fascinating to see how he comes across, what he says on cpac on sunday. good stuff. sean, thanks for being here. see you real soon. >> good to see you, stuart. stuart: i'm looking at the markets on a monday morning. i see some red, not an extreme amount of red but i want to know, susan, give me the movers please. susan: take a look at boeing because it is the main drag on the dow today. this is after that engine failure on the united flight from denver to colorado. two blades breaking on the pratt & whitney engine. we'll get to united as well. talk about some of the technology plays. we have rotation out of big tech from the microsofts and googles
are an example of that. wall street trying to reassess the risk/reward calculus holding more expensive stocks like these technology names which have run up to record levels. this is pause treasury yields are going up. we're at the highest 1.36%. money may not be as cheap as it was before to borrow, right? also checking in on mayor i don't think so which is the world's biggest hotel operator, rallying, up 4 1/2%, with cases coming down, more vaccines rolling around the world. maybe we get back to traveling and checking into marriott hotels again. american airlines, along with the rest of the airline sector a buy by deutsche bank in hopes of faster recovery and travel. american is worth $23 a piece according to deutsche bank. the rally is pretty much priced in, isn't it? up 10%. stuart: it is. they will get $15 billion from the government. the airlines need the money, want the money. we're not traveling again yet. up they go. but they have gone up before on
the promise of government money only to fall back. susan: i think this time deutsche bank is making it clear this is about travel recovery whether $25 billion in aid in the summer or $15 billion this time around you have to get people and passengers in seats. that is probably the most important part for the airline survival. the fact we're looking at stocks gains. that requires more traveling and actual ticket sales. stuart: okay. let's move on to bitcoin. i know that it hit 58,000 bucks a coin over the weekend. it is 53,000 now. what is going on, susan? >> bitcoin prices are falling back. with were at 51,000. we bounced up 2,000 in 30 minutes. that is how volatile bitcoin is but don't forget we were close to crossing 59,000 just yesterday on sunday. now elon musk, you would call him a crypto crusader, i call him a crypto crusader he tweeted this price might be too high.
he tweeted, the price of twit coin and ethereum seems high, lol. even stuart knows what lol means. tesla bought the 1 1/2 dollar purchase in bitcoin, that is big catalyst would you say. look at this statistic came out from wedbush last night, dan ives, the tesla analyst, he said tesla made a billion dollars already off the bitcoin purchase, off that 1 1/2 dollar bitcoin purchase, doubling that. making more on bitcoin than selling cars in all of 2020. do you find that incredible? stuart: i do. i really do. that explains why he -- while we're on this -- susan: other companies tesla's lead and microstrategy in using some of their cash pile to buy bitcoin. i ace volatile trade. if get right levels, on the
right upside move you could make theoretically more money for your balance sheet off of that. stuart: you could. it is a gamble though, ain't it? susan: yes. stuart: all right, susan. you remember this one, pitr, parents in the room? move on. susan: you're terrible. stuart: that is day brew, believe it or not, part of a united airlines inbegin that caught fire not long after takeoff. nobody was injured. that is amazing. more details on that. that's the boeing story of the morning by the way. covid deaths down, way down. distribution of pfizer's covid vaccine is about to get easier. doc siegel here with the good news on that. he is coming up. san francisco putting the school renaming effort on pause, get this, focus on reopening the schools. what a great idea, san francisco. full story for you coming up ♪.
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change name more than 40 schools that honor presidents and historical figures includes as you mentioned, george washington, abraham lincoln, theodore roosevelt an on and on. the board president says the only the focus is on reopening schools. how about that, a school board that wants schools to reopen. what a concept. the officials acknowledge school renaming push become as heated debate and needs to be tabled while children are still suffering at home. how did it take them this long to figure that out? i just don't know, stuart. stuart: it is san francisco. it is a very different kind of place. you know i used to live there. i lived there for 40 years. -- four years. block at -- look at me now. ashley: you're okay. stuart: i got to put that up on the screen. look at this, please, cases in the last two weeks of the virus
down 44%. deaths down 32%. tristen justice is is with us now. he is a writer at "the federalist." tristen, i think we're on the road to recovery, that the pandemic is in rapid treat, so what do you think? look at all the tea leaves, what the administration and teachers unionses saying when will we actually have kids in school five days a week. >> hopefully we reopen the end of this spring. in "the wall street journal" a johns hopkins university professor, is on track to immunity on april. one of the big ironies the biden administration claim it is about science, but political quip to delegitimatizing credible arguments by open opponents. we know schools need to reopen. schools are falling behind. that the cdc and anthony fauci said vaccination for teachers is
not required prerequisite for reopening schools and that schools need to be reopened as fast as we can. biden administration pledged to open open by april, one day a week and five days a week. stuart: you're killing me here, tristen. you're killing me. i know what the administration is saying. i know maybe one day a week, maybe, maybe, herd immunity. i know it all. i'm asking for your opinion. bearing in mind this teachers union and their attitude towards the children and teaching, when do you think, when do you think we'll go back to five days a week in the classroom? when? >> well, if we decided to look at what the needs of our students were instead of what teachers unions were prioritizing i think we would be having a different conversation months ago. i think students would be in the classroom today. stuart: but they're not. i want to know, when do you think, i know what i think. i don't think you're going to go back until at least the fall to five days, let me put this on
camera. my hand, five days a week in the classroom. i don't think we'll get there until the fall. how about you? >> i don't think schools will reopen until this fall. and that is a real tragedy. one of the consequences pandemic kids not being in school. that is entirely self-inflicted. stuart: you have to pound the table tristen. you have to pound the table. our kids. i have got six kids, 10 grandchildren. our kids have been deprived of an education for a year. that is a freakin' disgrace! i lay it on the teaches union. i want to see you pound the table, have you got any kids? >> no, i doesn't, not yet. stuart: okay. not yet. when you will do you understand the emotion that comes out of people like me. last word to you. >> no. it is an absolute tragedy u.s. schools r closed for so long. students have not been in the classroom for 10 months. u.s. is only one of the western nations in entire world that
kept schools closed because of the pandemic. that is a real tragedy, that is entirely self-inflicted. stuart: write an article in the federalist, we should deunionize the teachers. i digress. tristan, you need to learn to pound the table here. i want emotion. thank you for coming in see you soon. >> thank you. stuart: show me boeing it is trimming losses from earlier in the day. right now boeing is takes 12 points off the dow. earlier when it was down much more, it was taking 40 points off the dow. it is because of what you're seeing on the screens that is the terrifying engine fire. imagine being in the plane when it flies along with that. how many planes, susan have been grounded with with those engines. susan: united said they will ground 24 specifically with
those 777s with the pratt & whitney engine. thankfully no one was injured on board the denver to honolulu flight carrying 239 on board. >> departure, united 328. heavy mayday. experienced a engine failure, need to turn immediately. >> left or right turn? >> left turn. susan: federal investigators say two of the right engine fan blades broke off. japan and korea fly the boeing engines with that specific pratt engine. boeing is coming back from much steeper losses earlier on. raytheon is of course owns pratt & whitney. can you imagine the reaction if you're one of those passengers looking outside of your window seeing one of the engines on fire, stu? stuart: yeah. i would be terrified. that is a fact. flat-out. by the way, boeing is taking about 10 points off the dow industrials. susan: big recovery.
stuart: it has come back quite a lot. it's a recovery, you got it. president biden quick to praise new york governor cuomo's leadership on covid. now the white house is trying to back off a little. roll tape. >> does president biden still believe that andrew cuomo is the gold standard, represents the gold standard on leadership during this pandemic? just a yes or no? >> it doesn't have to be a yes or no answer, john. stuart: all right. we've got the full story coming up for you on this program today. plus the south african covid variant has now arrived in new york city. what is that going to do to a city that is already reeling. i will ask dr. siegel next. ♪.
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those who have had covid already might only need one pfizer jab to get immunity. i call all of that pretty good news. dr. marc siegel with us this morning. doctor, if i add all of this lot up, it looks to me like we're coming out of this. am i being a little premature here? >> you're being a little premature but we're heading in the right direction and i think if we continue to do everything right, stuart, we are probably going to be out of this by summer but here's the big thing, people have to take this vaccine. the vaccine is what we need. we're getting more and more doses coming closer to two million a day. then we'll hit a wall of vaccine non-compliance or hesitancy. we have to overcome that to come out of this thing. i like the news out of pfizer too. looks like you can store it in a freezer. looks hike after one dose, if you already had the illness your antibodies are soaring. i envision future you come in, get the first dose, they test you on the spot to see if you
have antibodies, maybe you don't need the second dose, at least right away giving us much more to go around. stuart: do we need 80 or 90% compliance with vaccines to get thoroughly past this? >> well i don't know, that number 80 or 90% is really high. this vaccine is 95% effective. i think we need at least 60 or 70% compliance, plus the people who already have had covid which is substantial. i think at least 60 or 70%. we're not seeing that. 80 or 90 would be perfect. you get 80 or 90 compliance with the measles vaccine, stuart, bang you're out of this. you get 200, 300 million people taking this vaccine you're out of this. people want to know how long you have to wear the mask? you won't have to wear the mask if 250 million people take the vaccine. this is how good it is. people have to focus on this. this is as safe as it need.
you believe the media would be all over this if it was unsafe vaccine the 60 million people have then one dose. it is a safe vaccine. it is incredibly effective. it is the way out of this. stuart: we have the first case of the south african variant discovered in new york city. what does that mean for the city? >> i got to tell you never hear good news on another channel, right? i have been looking into this. new york city is a mess as you know as it is. the south african variant doesn't look like it is more transmissible than the other. in south africa, the case numbers are going down despite the south african variant dominating. i don't think the cases matter. i talked to the director of the fda, dr. woodcock, they can reengineer the mrna vaccines the pfizer or moderna, to cover the south african variant in three
or four weeks f we need a booster we got a booster. i'm not concerned about that. in south after from cat case numbers are going down. stuart: that is important. doc siegel. thank you very much, sir. we'll see you real soon. >> thank you, stuart. stuart: president biden, one time was all in praise of new york governor andrew cuomo for his handling of the pandemic. however, what is the white house saying now, ashley? i think things have change ad little? ashley: they're saying absolutely nothing. they're dodging it. then candidate joe biden andrew cuomo was the gold standard as he was praised, emmy worthy for the daily televised briefings how the state was dealing with covid-19. but, does the president still feel that way, mr. biden? john karl from abc asked white house press secretary jen psaki. take a listen to the answer. >> does president biden believe
that andrew cuomo represents the gold standard in limb during this pandemic. yes or no. >> the president, it doesn't have to be a yes or no answer, john. ashley: actually yes it does. it is called dodging the question. a simple yes or no. since the gold standard statement, it should be pointed out of course that the fbi and the u.s. attorney investigating cuomo's ad administration handling of nursing homes. whether the number of residents who died was withheld but no answer, yes or no. well it isn't, she says? yes it really is but we don't know. stuart: here is another one for you, ashley. new york city was supposed to shut down its ice rinks run by or built by former president trump but that's changed. what did change on this? ashley: well, i tell you what, a lot of protests and outrage in the wake of that. it was really an effort to spike his political enemy.
new york city mayor bill de blasio canceling the city contracts with the trump organization, forcing shut down, guy is straight down on his space, forcing the shutdown of two ice rinks in central park six weeks earlier than normal. de blasio said he made the decision alleging trump had incited a riot at the capitol. you know what? that political revenge, all it really hurt were the 2500 children who enjoy the skating program and not to mention the 250 employees. as i say the move led to protests outrage and so this weekend, city hall did a full 180, saying guess what, kids deserve all the time on the ice they can get this year. but it is still unclear if the rinks will remain open until april last year. that is mr. de blasio. taking aim at donald trump and hurting all the other people in the meantime. so anyway the people win. the ice rinks are still open. stuart: remember that expression, you being bloody-minded?
i think that would apply to the mayor of new york city. ashley: it works here. stuart: just bloody-minded. ashley: yeah. stuart: america. we're north swearing. we're using an old english expression. thank you, ashe. get me out of this. millions of texas, no smiling here. they are waking up this morning without safe drinking water. we have a report from san antonio coming up. generator sales surging not just in texas but across the country. jeff flock reporting live from a generac manufacturing facility. ♪
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microsoft, way, way down. just killing me. it is down 6 bucks. that is 2.7%. that downside move, because it's a dow stocks 45 points off the dow. microsoft is not alone. look at all the big techs, you will see red across the board. look at that, apple is at 126, 2 1/2% down. amazon nearly 2% down. facebook one 1/4% down. big check really taking it on the chin today, perhaps because, perhaps because long-term interest rates are rising. we'll get into that a bit later. following events in texas, the sale of generators, absolutely surging. jeff flock is in whitewater wisconsin, he is at a a generac plant. how much have sales gone up, jeff? reporter: literally incredible. they have cannot make them fast enough.
i've been here in 24 plant before. i have never sign this kind of activity. you asked about the numbers. revenue numbers, largely as a result of the pandemic, almost a perfect storm of you know, power outages and crazy weather across the country has combined to really drive up revenue. tell you got a stock for you. you should have sold the microsoft and bought generac. 52 week low, $75. it is trading at 363. that is not gamestop stuff. this is like real stuff. we talked earlier, exclusively to aaron, who is the ceo of generac by the way looking at home generators, the homestand by generators, if you lose power. this is their big seller. he says they can't make these things fast enough. they're backed in a way that they have to build a whole new plant to try to meet the demand.
crazy. listen. you can't make them fast enough. >> we can't. no. first it was people. we couldn't get enough people back in the spring. now we can't get enough parts. that is everything from microprocessors to sheet metal to everything else we need. reporter: the people was a big thing. look at these guys. look how fast they're working. it is pretty amazing. this plant, building another plant almost exact same size this one, south carolina, 450 new jobs. this is a sign of the time, stuart, people realize, maybe climate change, crazy weather, all that sort of thing. the pandemic on top of it. you want to be secure in your home. if you don't have power in your home, you can't go to school these days, you can't go to work. you can't do anything. these guys, capitalizing on it. stuart: good stuff. jeff flock, right in the middle of it, thanks very much indeed, jeff. see you real soon. thank you.
not even the muppets, can't believe this, not even the muppets are safe from the woke mob. disney slapping the muppet show with an offensive content warning. do you believe that? we got the story. my next guest wants to give full federal funding to schools that reopen and penalize those that don't. i'm with this lady. she introduced a bill to do just that. does it have a chance against the teachers union? i sure hope so. we'll be right back. ♪. research shows that people remember commercials with exciting stunts. so to help you remember that liberty mutual customizes your home insurance, here's something you shouldn't try at home... look, liberty mutual customizes home insurance so we only pay for what we need. it's pretty cool. that is cool! grandma! very cool.
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♪. stuart: question of the moment, what are the big movers in this marketplace as we speak, bearing in mind the nasdaq is down 200? what have you got for us, susan? [no audio] stuart: ah, susan's mic is bust. that is why i'm fiddling with my little ifb. now i hear susan. i hear those sweet dulset tones. >> can you hear me?
stuart: the movers, please. susan: i wonder why you're fidgeting. i'm used to it, looked a bit more serious this time. streaming stocks, check out discovery, the cable channel company, earned more money, higher sales. streaming as we know is a big tailwind, with discovery plus, the new streaming service on pace to have 12 million subscribers by the end of the month. execs say they expect the service to have an addressable market 70 million. domestically 400 million globally. that is only addressable. it doesn't mean it will get those types of numbers. that is the opportunity out there. you see disney plus has been the runaway streaming winner. 95 million subscribers in its first 14 months of operation. it took netflix nine years to get to 95 million. disney plus will have 260 million in three years. so roku, by the way, is another big winner. look at this. roku was up close to 3% just a few minutes ago. these are pretty volatile
markets. roku had 58 billion streamed hours last year. 70 billion in the last three months. stu, that tells you this pandemic really accelerated consume trends by years, that includes an addiction to streaming. stuart: addiction, is right. i'm a netflix guy. no, not yet. didn't like that. unlike america, in britain, they are going to reopen the schools. yes they're going to do it and i believe they will do it fairly soon, when, ashe, you got that? ashley: how about march 8th, stu? that is when all schools are set to reopen, part. of boris johnson cautious four part plan to lift the uk lockdown. he will share his finalized road map as he calls later today. also on the 8th of march, new rules will allow each
resident to have one regular visitor with mom -- whom they can hold hands. march 29th, six people two, households, whoo, will be allowed to meet outdoors, even in the back gardens. outdoor sports facilities will be also open on march the 29th. so steps, right, just a little bit of light on the horizon coming in and we'll hear more from boris johnson again later today. stu. stuart: i think that is a lot of light at the end of the tunnel actually. just like here, we're not responding the same way. absolutely. ash, thanks. there is no plan in place to reopen our schools and get our children back in the classrooms, it's not there. congresswoman ashley hinson is a republican from iowa and joins me now. congresswoman, you have a plan that would deny funding to schools that won't reopen and give the money to schools that do reopen. i love it. a wonderful idea. with you 100% but you're up
against the teachers union, that is a very hard to beat them. >> yeah. it is sad, stu, our children have become in essence a political football in this game. i'm a mom to school age kids myself. in my waa my kids got on the school bus this morning. we're leading the way in iowa. i heard a conversation about having a road map. we got the road map. we know it is safe for our kids to be back in school. the data says it. so my bill, the reopen schools act does exactly that, it ties the $54 billion to accountability. we want schools to have a plan, make sure we're getting kids back in the classroom. it is too important an issue. their mental health is suffering. they're falling behind. that is the most important challenge we'll have to deal with for years to come, stu. stuart: this $1.9 trillion covid relief bill includes in it $129 billion for the schools. that's on top of the
$113 billion for the schools which is so far been unspent. now that is an enormous amount of money and i don't think you can stop it. i think they're going to get it. >> we're working on the budget committee markup as you know today. i serve on that budget committee. i look forward to having that conversation and pointing out, there is still a lot of money unspent from the previous packages. in iowa i was on the road in the district traveling, talking to superintendents how they used the past money from the previous relief packages. they have done it. they have goaten our schools open safely in iowa. you need to look at that model. there is your road map. we can do it around the country. too important an issue to keep moving the goalposts one day a week the biden administration is saying that is their goal. for many students, broadband is an issue, not as simple walking down the stairs hopping on the computer. i have stories of constituents of mind, to drive to libraries
to get on a hot spot to do their work. that is unfortunate we have to have this conversation. it is a taxpayer accountability, stu. we need to make sure the money is spent for what it should be spent for, reopening our schools. stuart: i have to go back to my original statement. i don't think you have got a prayer for doing it. i wish you well, i'm 100% behind you. you can't beat the teachers union. last word to you. >> we'll try, stu, it is too important of an issue, i want to leadership, scalise held a phone call bipartisan. we're listening to parents across the country. it is really important for parents to get the kids back in the classroom. definitely a priority for me. and myself. stuart: i have civics kids an 10 grandchildren. big priority for me, too. ashley hinson, republican from the great state of iowa. thank you very much for joining us. we appreciate it. best of luck what you're trying to do. >> thank you, stu. stuart: we have another big hour coming up for you.
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♪♪ >> the amount of money coming out is from the government, from the fed just egregious in size but we can have a strong economy, what will that do to the stock market. >> i have my ion apple and microsoft and tesla buy low, sell high that other game works inflation were not. >> we have to worry about inflation, that's a lead indicator of where prices are headed, follow those commodity. >> everybody are talking about bitcoin they want to buy it. >> if you look at a bitcoin trading at $50000 a coin you might say you're crazy. ♪. stuart: yes it is 11:00 o'clock on the east coast that is kc and the sunshine band.
this is monday february the 22nd check the market please the dow is coming back a little bit, we are down 34 points, 31460 but no comeback for the nasdaq it's now down 1.8%, 250 points, big tech suffering, disney and american express are leading the gainers, they contribute about 60 points on the upside of the dow, disney and american express doing very well, now this. with great fanfare, the united states applied to rejoin the paris climate accord. the mainstream media thinks the world will come together to solve the great time of crisis. so which country if is the world's greatest carbon polluter. the america first brigade is the united states, were always wrong. that is not accurate. it is china by a widely margin
it is china the greatest of all polluters in the paris agreement allows them to keep on polluting unchecked for ten more years. the numbers are truly shocking, and 2018 china was already pumping out twice as much carbon as united states in 2020 china built three times as much coal power capacity as all of the country combined. amazing. that is one large power plant coming on street every week under the terms of paris accord, no that's fine, abide in team will send to john kerry to bake the chinese to improve their performance. that's laughable, what leverage do we have the suspicion to appease the climate crowd we will go easy on china abandon hong kong and taiwan and human rights and internet security to appease the belligerent commonness. that is virtue signaling and caving at the same time. that's an ugly thought.
we america pour into this game were gonna raise our energy crisis and killer jobs to appease beijing. biden is trapped, bernie sanders and aoc have a stranglehold over the democrat party. they're using climate as a trojan force for socialism. and president biden seems to be enjoying the ride. as larry kudlow says he's the most progressive president in living memory. the third hour of "varney & company" is about to begin. ♪. stuart: kt mcfarland is back, thank goodness for that, welcome back, good to see you i am sure you just heard what i've got to say, i think biden is about to cave to china what say you? >> he's already caved, your analysis is absolutely perfect, us rejoining the paris climate
accord the united states as already and compliant with emissions standards of the paris accord weather were in it or not because the american market to cover. the american natural gas is something that our companies have decided we will use cheap american natural gas rather than expensive coal, were already there so what good is it to join the paris climate accord, we grab the checkbook again and we underwrite china as you point out china's pollution they don't have to abide by anything. they have ten, 15 years to hopefully maybe sort of reduce their emissions and not binding. china is getting away with unbelievable crimes, not only against economic crimes but other places as well. joe biden is going to stand up to china, what did he do last week he was asked about chinese concentration camps, uighur muslims and he said we have different cultural norms.
a genocide is genocide no matter who's committing them. stuart: hong kong has been crushed no matter who is doing it, there being crushed in taiwan is threatened matter who's doing it china threatening. it seems like were backing off on all fronts going back to the back all days. however, let me raise this with you president trump, former president trump is going to speak at the cpac conference sunday and i think you will speak at the same conference. this is going to be his first major address since early january. i have two questions what do you want to hear from him and what to expect to hear from him. >> president trump call me two weeks ago and we discussed foreign policy in a number of issues, he understands that the trump foreign policy and economic policy were right, and i hope to hear from them and expect to hear from them talk about that because what happened in 2020 election put aside the presidential result americans voted overwhelmingly for trump policies all across the nation and the new republican party is
young, hispanic, female, black, veterans and they're all running and promoting trump's policies so i think he has an opportunity to comment and really be the grandfather and say i launched a movement that is going to change america, we have a little blip with the biden administration but we will come back strong, president trump said interestingly he said china is pushing us around i wrong, they're pushing us around, they were doing that when i was president, they look at biden they think is a weak president, he will hurt the american economy and therefore trump's policies will prevail. stuart: trump's policies were good and i hope they prevail on a hope we hear about policy coming on sunday. you too, thank you very much katie, it's a pleasure. quick check of the market, we are on the downside, pay attention, look at the nasdaq
down 250 points, that is 1.8%, and your denny is with us, market man of this particular moment. all right ed, you coined the expression bond vigilantes which i believe applied to way back in the '90s were the late '80s, he is calling account in the 80s i remember it and i knew you back 40 years ago, give me the bond vigilantes are back looking at the rise in long-term interest rates and saying watch out stock market because you have a problem here. >> definitely rising the fed is trying to bury them for the past ten years, but they haven't had that much reason to arise again simply because we have made a tremendous amount of progress in keeping inflation down for a long period of time but we've never seen this unprecedented combination of physical and
monetary policy stimulating the economy and i think it's going to overheat the economy especially if we get another round of stimulus, so-called biden plan for $1.9 trillion. the bond vigilantes are stirring, their saddling up and they figure policymakers are on the road to reflation and they may ambush if they're not careful. stuart: when you say ambush that, what does that mean, what would they do to ambush. >> i think we can already start to see the problem, that is the fed for the past year buying all treasury bonds in an effort to give the bond yield down they were doing that well at the end of last year, and never cross 1% then a beginning of this year after biden was elected and talked about more stimulus the bond deal went up about 1% now it's 1.34%, the fact that the
bond deal has gone up with the fed buying the notes and treasuries tells you they're starting to be concerned about inflation in terms of what trouble they could create i think the bond deals will go to 2% by the end of the year, if it goes there in a leisurely fashion i think that would be a sign that the economy is doing fine and i don't think it would hurt the stock market. the risk is the biden plan passes the next couple of weeks and their reaction in the bond market is adverse in other words we get 2% a lot sooner in which case were already starting to see some impact in the market the highly valued stocks in the nasdaq may give back some of the gains but on the other hand financials because of the in curve are doing well. stuart: can you explain to me why big tech and microsoft in particular should be so far down just because long-term interest rates are going on. >> i think it's a rebalancing
issue when institutional investors and individual investors decide that something has changed meaningfully, mainly in this case potential for inflation to make a comeback which would be a radical change for what we've seen over 40 years, they have a basis of what the right thing to do in a general principle everything has a high pe everything gets rebranded in terms of valuation and everybody around say is what can i invest in an environment where inflation may have a comeback, until financial stocks are doing well, the stocks of companies that will open up at the end of the pandemic are doing well, i think that's what the market is telling us right now. stuart: you can forget about retirement for me because microsoft is down $7. thank you for joining us, we appreciate it we always like a good morning when it's tough on you, we appreciate it, see you
soon. back to the markets we have serious movement for the nasdaq down nearly 2%, big deal, the big movers. susan: big tech, microsoft was not check micro soft, along with apple and salesforce it is shaping close to 95 points off the dow this morning according to the fox business brain charlie brady and his analysis, higher treasury yields means money is no longer cheap and their buying and at the record prices on the tech companies and it becomes less attractive hence the selloff, let's check in on the travel stocks being hammered during tobin but the following cases in vaccine rollout means we could get back to flying, sailing and checking into hotels like we used to, most airlines getting an upgrade from deutsche bank this is helping lift the sector advising their clients to buy the stock delta worth $55
according to deutsche bank america should it 23 and lives at $21 stock, throw in royal caribbean cruise line lost over $5 billion last year, a billion dollars and the final three months of 2020 the looking ahead and that's how markets work you price and what would happen 6 - 9 months out in royal caribbean says they will return to normal looking to 2022. stuart: 2022, some way up. susan: that's your outcome you price was going to happen in the future not right now. stuart: you got that right, thank you. stop what you're doing and take a look at this, these are the first images from nasa's perseverance mars rover what's the next step in that mission, we will tell you coming up. elon musk they not be abandoning california for texas after all, there could be plans to expand tesla in the formerly golden state of california. we have the story, starting
today migrants remain in mexico program will start crossing into texas what happens once a crossover, do they get quarantine, do they get tested i'll ask congressman james coburn about that, he is next ♪ ♪ n spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up.
♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ good morning! the four way is a destination place. right here, between these walls, is a lot of history. we tried to operate a decent, respectable place that anybody wouldn't feel bad to walk in. i am black. beautiful. i must be respected.
it was for everybody. you never know who you're going to meet. black lawyers, doctors, educators, martin luther king, b.b. king, queen of soul aretha franklin. you're sitting in the place where giants ate. the four way, as a restaurant, and the cleaves family meant so much to this neighborhood. to have a place where you have dignity and belong, that's the legacy of the four way. loving people. sharing and caring and loving people. that's a great way to think. ♪
worried there's a lot of people coming across the border who will carry covid-19 what are we doing about that, that's a health crisis that the health crisis on the southern border isn't it. >> that's a huge health crisis one of the biggest accomplishments one of the biggest buyers of obama administration was a lack of border security, the difference between the biden administration and four years ago during the obama administration is the fact that were in the middle of a pandemic. with open border policy the joe biden is advertised across the world, many of us in congress are concerned that not only do we have border security and increase in drug trafficking and human trafficking but we will also see an increase in covid cases coming across the border at a time where we are finally getting the curve to go in the right direction.
stuart: can you stop it? there are so many issues arising in the new administration where your fundamentally opposed to what's going on but you're powerless to stop it, can you stop the health crisis on the board. >> were trying to stop in one way to stop is have the american people speak out i think were seeing that with the issue of school closures, the democrats wanted do whatever the union say with respect to keeping schools closed but the parents are outraged and their calling their members of congress from the democrats in congress are backtracking on that we want to see the same thing happened with the border security, the fact that a time when our economy is starting to recover at a time when businesses are safely reopened, were trying to get schools safely reopen the democrats are letting people come into this country that we have no idea what they're carrying, and maybe covid it may be worse than covid and we can't stand for that, the biden administration has already done irreparable harm on the border
by sending the message that the border is open again like it was during the obama administration and republicans are trying to message and get it out and get the american people to call the democrat members of congress and say stop this, elections have consequences and unfortunately were still a few boats shorten the house. >> here's another when the house is expected to vote on the near to trillion dollar covid stimulus or covid relief plan this week, republicans call it a job killer, but it's something else, you can't stop it. we are going to get almost all of the $1.9 trillion worth of spending, it's going to happen isn't it. >> it is unless democrats in the senate come to their senses like joe manchin tester and if you potential hopes that americans have in the senate. but the democrats still have not
come forward with exactly where they're spending all this money where they came up with the numbers say 350 billion with state and local governments, their 70 questions that republicans are trying to get democrats to answer during the few committee hearings we had and democrats are bulldozing this legislation through at a time when i've been listening to your show many congress are concerned this will overheat the economy. and there's still a trillion dollars of unspent funds from the previous 4 trillion that was spent. you think about it this way, 4 trillion is so much the federal government can even spend it all but the democrats want to spend another $2 trillion. stuart: an extra ordinary situation, never seen anything like it before, trillions upon trillions shocked into the economy and all of it is necessary. congressman james comer thank you for joining us, always appreciate it.
i'm going to draw your attention to the market because we turned around the dow it is not positive 31500, look at the nasdaq still down 224-point, big tech really taken a badly. show me pfizer, new study from israel shows their vaccine is 89.4% effective in stopping the spread of covid-19. the stock is down a fracture, johnson & johnson and fda committee reviews their single-dose vaccine thursday, that means the job could be authorized by friday, the stocks are down a fraction. glaxo smith klein and sanofi are starting a covid-19 vaccine trial. actually if this goes to the whole process i think it will be the fourth vaccine, when could we get it? is.
>> the goal is to reach the final testing stage in the final quarter which is not that far away and the results are conclusive, and hope to see the protein-based vaccine approved by the fourth quarter of this year, last december clinical trials showed an insufficient immune response in older people but the new trial will evaluate safety tolerability and immune response to the vaccine and 720 healthy adults in the study and both two injections given 21 days apart. if all goes well should be available through the end of the year. stuart: got it, thank you very much indeed professional out fleets we are taught there pushing back against taking the vaccine. this is your area, what are the leaks doing about the pushback. ashley: is difficult, professional athletes will get access to the nba, nfl and major league baseball say a significant% of the players even the majority and some leagues are concerned, worried about
actually receiving the shot, according to the journal the missed trust in the black community of the healthcare system that is discriminated against them is contributing to many athletes about receiving vaccines developed in record time. the nfl by the way has seen this before last year 75% of players refuse to get a flu shot. in response and to into your question the leaks have become an education plan kaine's to persuade players to take the vaccine when it's their turn. but it could be difficult to get them to agree. stuart: you cannot force them, we have a constitution, you cannot force a buddy to do it. sports on the line. not even the muppets are safe from the woke crowd, market to muppet show comes with an offensive content disclaimer. hard to believe this, we will tell you all about coming up that story. were getting close to recall of
stuart: the count shows over 1.4 million have signed governor newsom in california and we party heard from two republicans who were throwing the hat into the governor to real ring race. rotate. >> i'm proud of my record of mayor of san diego for two terms i'm the only one that successfully one in a major democrat city. >> these politicians talk and talk and don't offer solutions i think that's what voters are interested in and is a great opportunity to get california turned around. stuart: look who's here tom del beccaro, former gop of california i do declare. we've talked about this before, if you have too many republican candidates your side loses. i want to know seriously, what is the gop in california doing
to bang heads together so you end up with one candidate who will win. what are you doing? >> keep in mind the rules in the recall are on the ballot it'll say do you want to recall newsom and below it says from the list below no one has to get to 50%, whoever gets the most votes it could be 25% could when it and last week the democrats lieutenant governor shamed all democrats to stay out of the race that the status quo you could have 50 republicans and the republican could win. this race is going to be about i live for finally have an opponent gushing to republicans running is it that many there's probably going to be a third as ric grenell exit the race as well. stuart: what i'm not heard so far is any republican candidate or any republican in california talking about things that would
really change california like tax cuts, a review of your renewable energy policies. open the estate up, d union guys, do something about the teachers union either heard any republican talking those terms, we gotta work with this bunch and work with that bunch, have you forgotten ronald reagan was a californian who said cut taxes and raise revenues. come on tom. >> don't look at me, what the next governor needs to do is to have rational energy policies, it is to have and change water policies which hold the state back dearly and make a job friendly environment, you know where it goes words welcome its welcome in texas and not that will come in california and if 70 wants to get elected in the state i'm 100% agreeable with you that they have to put jobs first and you can't put jobs
first with tax increases. stuart: i think were in an agreement you need one candidate and you need to cut taxes and you need to be like ronald reagan. tom i think we reach the promised land of agreement about what california needs. come back and see us soon, seriously i want to follow this race because i think california's feature is really on the line. thank you tom. take a look at tesla, related news elon musk having second thoughts of moving out of california, tell me more susan. susan: they have to file for new permits to expand the plant, they're trying to make the model three production line permanent fremont is the largest tesla car plant in the u.s. while really the only one until austin opens later on this year hopes to build the cyber truck they make
model three, x, y so it's tesla production hub in the u.s., elon musk has the right to pull out of california and remember when he clashed with the county health official over covid protocols and then elon musk defined the calls and continuing park gunter production anyways. musk has moved out of california after selling off, $100 million in his bel air ally mansion. you might be offered short period of time he might move back to california in the future, he has the money to do so it's called freedom. stuart: that's absolutely true i would like to know who paid $100 million in a home for bel air california who's going to move in with the highest taxes in the nation. susan: i'm not surprised to hear that from you. stuart: one more spacex are they doing something in the fight against a virus that's another elon musk company. susan: what does this man not do
he's contributing to covid science. the first of its kind corporate. review study published in the nature communication and musk is listed as a kill author and what this basic study found a certain level of antibodies might provide people with lasting covid protection, for instance those who suffered a milder case of covid you would generate fewer antibodies and that might mean you need a booster shot maybe the pfizer or the moderna shop for a longer-term production, we know elon musk tweeted that he came down with covid back in november but if you think about it very few businesses have regularly tested worker blood sample for antibodies and none of those has shared publicly like this especially in a peer-reviewed journal, i find this incredible that elon musk is doing. he's contributing to covid science to help everybody else. stuart: your first sentence was right what does this man not do.
i can't answer that he seems to do just about everything. susan: exactly right. stuart: one more item on space, i like this, nasa just released photos from the new mars mission. actually, we see those and will see more later on today. ashley: we are in over the coming weeks nasa teasing the release of video footage on the actual landing of the perseverance rover with the tagline cmos like never before, the buzz is building on the internet the landing is being called muscle tv. once a first few weeks of exploration underway nasa will begin dumping hundreds of photos on its website providing all the raw images being being back from perseverance among other things a project will look for signs that mars indeed was once
inhabited by alien microbes, it's a beginning of a movie if it's not. fascinating. stuart: absolutely. thank you ash, nothing joking about this one texas is recovering from the brutal storm and one actor wants to help make it all right, all right, all right. we have details on a star-studded virtual benefit for you. i think i got it, president biden's push for solar energy could wind up benefiting china, good lord we have a report from texas on that, that report is next. ♪
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solar panels. grady trimble is at the mission solar energy factory in san antonio, texas, the obvious question how our american companies going to compete with cheap chinese solar panels? >> that's a very hard thing to do, two thirds of all the world solar panels are produced in china, mission solar is one of the few american companies 100% manufactured here, you can speak more than that, you can't really compete with chinese presence. >> we can't, we compete on quality we have to make sure everything that we do is a higher standard than anything else and we cannot compete on pricing. >> were asking the end of the assembly line how hard is it to be one of the few companies that manufacture solar panels in the u.s. is a conundrum because you benefit from the biden pusher green energy but on the flipside so many solar panels are produced elsewhere. >> we are america's company
everything we do is in the united states supporting manufacturing jobs, we try to make sure that everything is made to a very high standard even though there's a lot of stuff coming overseas we put additional quality checks all throughout our process line and our own reliability lab where we pick out randomly and make sure we can compete on quality. >> you mentioned our location were in texas and we would be remiss not to mention the challenges they face last week that affected the manufacturing industry as well there week behind on production because of the power outages from last week. stuart: grady trimble in texas, think you will see you later. a hollywood star stepping up in a big way to help victims of the texas storm, all right, all right, all right. i think we know who is a star stepping up, what is this guy doing? ashley: if we could have two
more minutes of you doing that. texas with matthew mcconaughey makes me laugh says he plans to hold a virtual benefit event for those impacted by the brutal weather that left millions without power in freezing temperatures that matthew mcconaughey hey says busted borderlines and hospitals and homes have left many texans without the bare necessities that they need to survive, they use their foundation to pitch in, take a listen. >> camilla and i are working for organizations on the ground in texas and we know that help is going to be needed for a while and that's why the foundation and i are putting together a virtual benefit within the next two weeks to directly help the necessary long-term effort to rebuild texas and take care of those in need. stuart: he's a good man he
e-mailed actors and no details about the event happening release but hopefully in the next couple of weeks something will be put together when announced. good stuff from all right, all right, all right. stuart: your worse than me, you are worse than me. i'll tell you one thing if matthew mcconaughey is one of the best voices in public, it's rich, it's sharp, it tells you what he needs to tell you. hold on, this is for you as well, i can't wait. the muppet show, offensive, good lord tell me about this please. ashley: it turns out even the muppets are offensive these days, i can't believe this anyone who streams the muppet show on disney+ will see a disclaimer first, right here warning of the offensive content i'm recorded read it all but it says the program includes negative depiction and mistreatment of people or cultures, these stereotypes were wrong then and wrong now right there then remove this content we want to acknowledge its harmful impact, learn from it
and spark conversation to create a more inclusive future together. it goes on, it's not exactly clear what disney considers to be offensive but the same warnings also appear before classic moves including dumbo, peter pan and the rotten bunch the swiss family robinson. stuart: what they're doing is preserving their valuable content, at the same time taking care of the politically correct friends and putting up a warning notice so you get the best of both worlds you satisfy the far left but you still satisfy their customers because they can see what you're offering. ashley: covering. stuart: nothing wrong with that, covering something else. your all right. now this. pets have gotten used to the owners been home all the time during the lockdown what happens when everybody goes back to work i'll ask "the dog whisperer" she's on the line, he's on the
show and he is next. ♪ who let the dogs out, who let the dogs out, who let the dogs out ♪ ♪ we started with computers. we didn't stop at computers. we didn't stop at storage or cloud. we kept going. working with our customers to enable the kind of technology that can guide an astronaut back to safety. and help make a hospital come to you, instead of you going to it. so when it comes to your business, you know we'll stop at nothing.
>> what he's saying i'm insecure about these people and if you react excited, nervous and fearful to insecure ground you will make him aggressive. stuart: you know that guy, popular show, "the dog whisperer", you know the guy who happens to join us right now. throughout the pandemic, throughout the lockdown i know a lot of people that got a pet and i'm sure the pet was very happy because the parents were at home and the owners were at home having a grand old time, what happens when they go back to work in the pet is left alone. >> this is what needs to happen, people need to really embrace the activities of exercise because the tired dog is not going to give you problem, they'll have to do with energy
that they wake up with, the most important thing is exercise, second is the mental stimulation for a dog to have some mental work and so the job is the boundaries of limitation, the dog needs to have some kind of job because he spends too much time inside the house doing practically nothing, it's important for people to retain exercise discipline affection, this is how you want to fulfill the needs of the dog so the dog can come back when you come back from work that dog doesn't have pent-up energy. stuart: sure, i'm sure you don't with this question before susan but do you think it is humane to own a dog and leave it in an apartment for 12 hours a day. >> in order for a dog to adopt to the lifecycle that you mentioned 12 hours waiting for human, they need to do it without any physical or mental energy, if we don't have some
kind of exercise or fitness or some kind of mental activity, we are going to go crazy and that's what a lot of people felt backward to do anything, at least i can put my mind into something, the human is using the dog to keep himself busy that works for a few in every single specie in the world, because animals were not meant to be behind walls 20 for hours a day. stuart: i need your advice, how do you stop a young dog barking constantly whenever anybody comes to the door the phone rings and anybody moves and stands up, how do you stop that. >> before you stop anything you have to understand why they do it in order for you to have -- a lot of times people want to stop it because are so frustrated and so angry and they build
resentment. barking is a way of communication but the dog can't communicate somebody's coming or don't know what to do with the excitement, most dogs get excited because people actually trigger and say who's that, his coming so they create this excitement and they don't know how to stop it that way the exercise without limitation can help you achieve to stop the behavior when the behavior is escalating can dogs bite, you tell them not to bark, that's part of the world, which one do you want, when a dog finds explosives he's not allowed to bark, when a dog finds money he's allowed to bark, even in the search and rescue a dog underdog can find something and not bark or bark, if you don't want to daca under bark at the door, you can't teach any behavior without doing exercise first, it's easier to teach a dog after exercise. stuart: you make a lot of sense.
i could learn a lot from you, come back on the show very soon i want to learn more. i had to make a complete change and talk about the hotel stocks, actually, they are up, quite significantly, did i hear this right i could get paid thousands of dollars to sleep at a five-star resort? ashley: i thought you did that anyway, from time to time we talk about dream jobs on "varney and company" i just ran a course, how about getting paid to sleep that could be a reality for one lucky person, sleep standard.com is looking to pay someone to thousand dollars to spend five nights sleeping in different environments including one night at a five-star luxury resort. the person hired will be asked to write a report, that is the
downside you have to do homework about each nights sleep you must apply for the great job before march 31, the application includes a video submission about why you would be a good choice because of sleep standards.com. a very decent mining. stuart: sleep standard.com. thank you, check the big board we are up 17-point, we will have more "varney" and the big announcement, big, after this. ♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪
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personalized advice. unmatched value. at fidelity, you can have both. ♪ more than this ♪ ♪. stuart: people got everybody on camera. there we are. hear that? can you hear that, ladies and gentlemen, can you hear that. stevie wonder, "isn't she lovely." stevie wonder. let me explain, let me explain everybody. congratulations to our very own lauren simonetti. she had her baby girl, celia monroe. happened earlier in the morning. it was 2:00 in the morning on saturday. mom and baby are doing just fine. that to us is wonderful news. i want to tell everybody, that, when i had my children, and i saw them, when they were newborns that was when i understood the expression, love at first sight.
i said this before, i will say it again, there is nothing quite like the first sight of your own fresh born newborn baby. there you have her right there. isn't that a wonderful thing? ashley: fantastic. >> congratulations all around. time's up. cone gratlation to us, lauren. jackie, it is yours. thank you for that, stuart what a beautiful image of that baby girl. jackie: i'm jackie deangelis. i'm in for neil cavuto, welcome to coast to coast. republican lawmaker madison cawthorn, why taxpayers need to take a closer look what is in the bill. then to colorado where the investigation is just beginning into the engine failure of a boeing 777 airplane. what people on the ground s
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