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tv   Varney Company  FOX Business  March 4, 2021 9:00am-12:00pm EST

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maria: big thank you to dagen mcdowell and rob. see you tomorrow. thank you. can wish you a fantastic thursday, everyone. "varney & co." begins with stuart right now. take it away, stu. stuart: good morning. you know, we have been hearing it for years, by the depth. whenever the big top company stocks take a hit many analysts, certainly those on the program say by in now and make money. so, is this bad day when investors by the big tech dip? here are the premarket quotes on the big names that came down so much yesterday and as you can see there's a minor-league balance, apple, amazon, facebook up slightly. microsoft down.
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i won't call that a bounce at this point. more on this later. thursdays tech selloff was supposed to be about rising long-term interest rates. well, the rates on the 10 year treasury is hardly up at all this morning. in fact, it's down at 1.48%, not that much change. overall, let's have the big picture, stocks are edging higher, mostly. the dow jones is up 40, but we turn south on the nasdaq and s&p, minor losses. that's how we will open. no telling how we will close. president biden insults the states which are opening up and dropping restrictions. he calls that quote neanderthal thinking. that's not going down well in texas, florida or any other states where freedom is restored and businesses booming. asked for in the end of,
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does that apply to new york's governor cuomo who has apologized for making women feel uncomfortable. sports fans, listen, amazon is bidding to stream thursday night football and reportedly amazon is prepared to pay double. how about that. deva portnoy is on the show. he's backing an investment based on-- investment fund based on social media chatter. jim jordan will be here as well, he's tackling the council culture, good for him and wait until you see the biden team scramble to stop him from answering any questions even from his own party. wednesday, march 4, "varney & co." is about to begin. ♪♪ stuart: but get right to this. at the white house
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abruptly cutting the feed to a virtual event with the president after he, the president, offered to take questions from democrats. watch this. >> i'm happy to take questions if that's what i'm supposed to do, nancy. whatever you want me too do. stuart: that's called you are absolutely cut off. what are they so afraid of their? we will have more on that in "my take" at the top of the next hour. let's get to money off the bat. futures really makes this morning. fractional gains for the dow jones, minor-league wasp for the nasdaq and s&p. i think we need to update big tech again and that's what we will do now. susan, i can see marginal gains foremost and a further loss-- susan: marginal, worst two days
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for the nasdaq we have seen in pretty much six months and the problem is people are looking at the reopening trade so think airlines, cruise lines, banks and energy, some of the best-performing sectors of this year 2021. meantime, tesla is down 25% from its peak. zoom down 20% this week and that's what you call it their market with amazon, home depot, domino's another lockdown winners are off at least 9% each the past the six months. money is rotating into cruise lines, royal caribbean, j.p. morgan, chevron, the energy plays in hotel and travel stock with american airlines and all of these are rallying while money is coming out of technology names specifically on tesla. we expect more pressure, that as you heard one of their early investors who had been in all these years is that he sold a quarter of his stake in tesla and morgan stanley says
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tesla right now is losing market shares to boards electric mustang. stuart: i wonder if it's a turning point for the whole market. much to bring in luke lloyd. do you think this is in fact a turning point for the whole market? >> no, i do. we look at these debts as opportunities. we have to take a look at the past understand what's happening right now that when the pandemic first started and everything was shut down, technology was the safe haven for stocks and everyone loved into tech and now that things are reopening ec rotation out of those big tech names into other sectors like energy and financials, those two sectors were green yesterday while the s&p 500 was down 1.5%. energy and financials are such a small percentage of the overall market. five big tech stocks make up double the combined weighting of
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energy and financial. i wouldn't to be quick to follow this rotation. it presents buying opportunities and we help-- always hear people talk that they wait to buy the dip and if you have been waiting now the time. especially with the economy based to reopen. stuart: okay. leave the big tech stocks on the screen, please. i went to ask luke, which would you buy, on the screen i have apple, amazon, facebook, alphabet and microsoft. >> all of them but especially amazon. amazon is the few sure whether it's delivery service or the cloud of business. at their cloud business is growing and i think amazon is where you want to be. stuart: all right. tell me about opening up , texas and mississippi are dropping their mask mandate. do you approve and you want more states to open equipment absolutely, reopening is real.
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covid cases are coming down and vaccines are being distributed. quibi covid. with texas fully opening, more states will follow, restaurants and massachusetts are operating with no capacity on the south carolina lifted the ban on large gatherings and even san francisco announced indoor dining engines could reopen. in ohio it's hard to get into my favorite restaurants because they are so busy and the thing that gets me most excited is free markets can operate freely. capitalism can work its magic again with more jobs and more money in people's pockets and overall more prosperity. this will spark everything. stuart: tell me about the coin. i'm not seen the latest. is $49000. are you in or out and will you ever be in bit coin? >> as we talked about before i saw personally have $40000 a quite i may close to a thousand% my gain. it is all about supply
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and demand and one good thing it has going for it now is it has not sold off much with the big tax so i like that, but personally i'm looking to pick it back up in the low 20 thousands to mid- 20000 if i can get it there. that's where the support is, but in the long-term i think $100,000 is on the table over the next year. stuart: okay, you may or may not buy it, but you will be buying amazon. luke lloyd, thank you. we have a couple of stories-- a couple of companies rather reported early this morning, crozier-- kroger in bj wholesale. susan: but start with the grocery kroger because they said the pandemic fuel rush to grocery stores during lockdown won't continue. they expect same-store sales to fall three to 5% compared to 2020 and we know covid has accelerated online grocery trend to sell it says online sales doubled last quarter and that's pretty much what
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is priced into the stock now. warehouse retailer bj's making more money than anticipated with sales higher, but the problem is no guidance for this year. they are still uncertain as to how covid will impact their business. back to that luke lloyd comment, he said he will bite him in the high 20 thousands. do you think it will get back down to 29000 or 28000, whatever? stuart: me? i don't know. susan: you really think you will get an entry point back down there? we will see. stuart: i wish him luck, but i'm inclined to agree with you, i mean, if you get back down to make 20000, that would be a shock to the financial system. susan: and the fact that it's held up during the selloff we saw intact, the rotation out of these momentum place and i think that says good things about where it's headed. stuart: let's talk about one of my favorite companies, cosco.
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they have been a pandemic where. they have been on the downside, recently. they are still up at $324 per share, but they been on a bit of a downturn since december. they report "after the bell" this afternoon. we have the futures market showing it's a mixed picture after the recent declines, fractional gain for the dow jones and a loss for the nasa knesset he. barstool dave portnoy is promoting a new etf called the buzz. it will track stocks based on social media chatter. does that mean they are investing in those reddit sought-- stocks? i will ask him. he's on the show at the 11:00 o'clock ever this morning. president biden does not agree with texas and mississippi lifting restrictions. watch this. >> the last we need is neanderthal thinking, take off your mass, forget it, it's still--
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it still matters. stuart: when is getting power back to the people neanderthal thinking? we will get into it with brian brenberg who is the next. ♪♪ [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.
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stuart: this is breaking, new zealand hit with a 7.3 magnitude earthquake. it occurred to send it about 100 miles on the north east coast on the north island of new zealand. tsunami warnings are possible and we will keep you updated. i will be calling my son
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futures suggest a small gain for the dow jones, minor loss for the nasdaq and s&p and the 10 year treasury yield, we have been watching that, 1.47% this morning. some of america's biggest corporations are signing a letter urging congress to create a permanent path to citizenship for dreamers which companies assigned on? susan: some of the biggest, apple, amazon, facebook, google, starbucks, target and gap are some names that you can see. dreamers are undocumented immigrants, undocumented immigrants who were brought to the uss children and democrats last month as part of the immigration reform bill backed-- which was backed by president biden said they would provide a set pathway to citizenship for these dreamers, but there's an uphill battle in congress to pass an entire democratic package.
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if they strip out the dream act as a stand-alone bill, that will likely get bipartisan support. immigration reform we know is a single most polarizing issue in america right now. people believe these dreamers that were brought to america, not on their own volition and they should find a pathway to citizenship somehow. stuart: the big companies want them in and stay in and that's entirely understandable. okay. what terms will they be offered, however and what is it mean for other people coming across the border now? susan: right. stuart: as you saw earlier president biden slammed the governors of texas and mississippi for lifting mask mandates. let's see the neanderthal comment again, please. >> i think it's a big mistake. look, i hope everyone has realized by now these masks make a difference. we are on the cusp of being able to fundamentally change the
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nature of this disease. the last thing we need is neanderthal thinking that in the meantime take off your mask and forget it. it still matters. stuart: mississippi's governor tweeted this: president biden said allowing mississippians to decide how to protect themselves is neanderthal thinking. i guess i just think we should trust americans, not insult them. brian brenberg is with us this morning. would you make of the neanderthal? >> well, the president is not slamming these governors. he's a slamming the people of the state because with the governor is doing is saying the people of texas and mississippi will do their thinking and make the decision about their health situation, so when you put it in their hands now you are putting power in the hands of neanderthals. is helpful to know what you're elected leaders
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think of you and at least he's clarifying it just how they feel, but let's be clear about what's going on. this isn't just about about coronavirus or masks. of this is the battle line in american politics. self-governance, will it survive, who rules the people, the people who make decisions about their lives or is a rule of experts? look at socialism across the globe and it's always been let the experts ruling you can see that so clearly in american politics right now. these governors are taking that power back and giving it back to the people, but the political class elites don't want it to happen. of this is going to be the battle line. stuart: but, it's ridiculous, brian. if you look at the state of the economy and say florida or texas and compared to the state of the economy in california, new jersey, new york, i mean, there's a fundamental difference. i'm looking at an unemployment rate in
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florida just over 6%. california and new york it's about 8%, huge difference of economic performance, but these guys and texas are the neanderthals and i guess are they enlightened in california or new york? >> unemployment is not enlightened, stuart. economic decline is not enlightened. it's ridiculous that someone sitting in a state that is in freefall where people are leaving the state to go to the state you're criticizing is somehow saying we have the right answer. the hubris in american life is disconcerting, but it's not just disconcerting, it has real implications for people-- people's lives, i mean, right now in texas you have people who are working, earning a living, taking care of their families, sending kids to school spending time with their loved ones, living life doing human things and in
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california you have the governor who by the way happy to do all of that on his own terms in his own life, but his own people can to do that. here's the good news, the battle lines i was talking about, the stakes are becoming clearer than ever and in this country you can see what freedom looks like and you can see what dictatorial policies look like. you can see the future and people are going to make choices. they will make choices at the ballot box and with their feet, they will make choices where they live and where they were, stuart. the power in this country is going to shift into fundamental ways in the years ahead and i think will tilt towards liberty because i think more and more people want to choose liberty, not the tyranny they are getting in some states right now. stuart: it to better tilt towards liberty because is this -- this is the united states of america. brian brenberg, thank you. of another story to follow up on. alabama's governor is
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facing pressure to follow texas and mississippi. she will announce her decision today on whether to extend the masks or not. her new-- lieutenant governor's tweeting: i urge the governor to immediately lift the statewide mask mandates and allow citizens and local officials to make the decisions that best fit their circumstances. by the way, so far 16 states have eased their mask requirements. coming up to about seven or eight minutes to go before we open the market this thursday morning. we will be up slightly for the dow jones, down slightly for the nasdaq and s&p. who's going to buy the big tech dip? that's the question of the day. we will answer it in a moments. ♪♪
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♪♪ ♪♪ stuart: not expecting huge price moves, at least not at the opening bell with a mixed market picture emerging with four minutes before we open trading. show me big tech, please. a slagging pretty much across the board although microsoft is down some more. here is a d.r. barton. you have always said for
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years and years and years that you have set by the big tech dip. are you buying today? >> it is time again, stuart. you know we looked at these things coming back let's go back to february 16, when we were making new all-time highs and the nasdaq was blowing out the top of the chart and people go i can't buy it. guess what, we have an 8% pullback in his time to buy. these companies are still winning. they are actually winning bigger after the covid affect in the resurgence. it's time to get back into these stocks c1 okay. we have them on the screen. stuart: apple, amazon, facebook, google, microsoft, which went in particular would you buy now? >> we talked about microsoft pulling back a little bit, stuart. i think they are doing some of the best execution among all the big five.
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they have been running a bit under the radar screen, so if someone is looking to put new money to work with the stock with a little bit of dividend going also and some consistent growth going forward, i like microsoft. stuart: we will leave it at that. ione's thin sliver of microsoft. i want to talk about targets. i can see this as a remarkably good retailer , but what about its stock price. where is it going? >> you know, stuart, they just got hammered two days ago because their year-over-year sales were up 21%, online sales up 118%. their same-store sales month over month were up 5% and they made 15 billion extra dollars last year, more than they have grown in the previous 11 years, but they didn't give it forward guidance. you and i hate packing that people people play
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and by not giving forward guidance they got tamped down 7%. this is a great place to buy target. stuart: would you think it's going? >> i think it's going-- all-time highs are about 199 and change. i think we have another 10% over that in the first half of this year, stuart. stuart: that's a bold bold prediction, there. coming 10% above $200 a share teacher to 220. it's now 173 and that would be a phenomenal gain or to do to repeat it? >> i do. stuart: by the second half of the year? >> yes, by the second half of the year i do believe we will see those kinds of numbers in a retailer that is just crushing it. stuart: well, you will still be with us in six months, so you can come back to answer for
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yourself. d.r. barton, thank you. i can hear them clapping you know what that means that means they are about to ring the bell. then, he presses the button and the bell rings meaning in five seconds trading will begin this thursday morning. we are off. we expect a small gain for the dow jones in the early going and that's what we have up about 30 points, 31200 is your level, not a lot of price action so far. s&p 500, where his back? down a tiny tiny fraction, .05% down. the nasdaq is down one third of 1%. that implies that the selloff in technology continues, down .34% right now on the nasdaq. quickly, show me the big tech. further decline their
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for output-- i'm sorry for apple and microsoft, fractional gains for alphabet, facebook and amazon. susan, where's the bouts susan: you are looking at it. i actually think if you are down a 31% of the nasdaq compared to what it looked like overnight when you saw another 1% plus selloff, much better than anticipated. i'm sure people are buying on the dip. you have more green now on the screen and it might be a good time and a good thing that there's less concentration of wealth and influence of the biggest companies in the s&p. i saw one analysis are showing the 10 largest companies in the s&p 500 were worth about 30% of the index ended at the highest concentration in 20 to 30 years so with a selloff, that means they are now worth less than a third of the entire index and the broader stock market which in some ways is good when you have more buying across the entire stock market, that insulates you from big market
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decline. stuart: okay, so a pullback for a big tech actually be a good thing as long as it doesn't get dramatic and go on forever. how about this one, i knee-jerk comment on the rocket companies, dropped 30% yesterday after gaining 70% the day before. that's volatility, what's going on. susan: back today by 3% or so and we do have it investment bank jp morgan advising caution on rocket companies telling clients to take out profit and that's because they are looking at an unusual artificial trading activity which has them concerned and it's driven by their reddit retell belgrade so the owner of the cleveland cavaliers is also the majority owner of rocket to companies in quicken loans in this credit rebellion to kill the short piling against rocket has made them richer so for this year so bloomberg says he's the 29th
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richest man on the planet worth over $44 billion. he lost 19 billion yesterday with the 30% stock drop but he still up 11 billion this year because of this retell trading brigade trying to piling to kill the hedge fund. they have been shorting rocket companies by 40% so if there is a winner and maybe dan gilbert's. stuart: i thought it was the big guys who were supposed to get killed with the reddit revolution, but it's the other way around. susan: making them richer. stuart: this is called an identity management software company. susan: i'm laughing because did you just get an it lesson on how to use it and login remotely? stuart: yes, now i can log into okta. susan: okta made a big acquisition as they dividing a
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rival for $6 billion and that's a lot of money which helps you login remotely securely, a big remote work winner at $6 billion all stock deal and that has wall street a concern. also sales jumping in the final three months of last year, but losses widened so if you're spending more money while losses are writing i think analysts are concerned about where the cash will come from. stuart: got that and now let's have a look at disney because they are closing roughly 20% of their stores nationwide. they will do the closure before the end of the year. about 60 stores will be closed. disney is going to focus on e-commerce in line with that trend. i liked this story, amazon is on the verge we are told on the verge of a major deal with the nfl. what is that-- wait a minute, what is this
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about amazon paying double? susan: double the current rate which could amount to a billion dollars. if someone can afford it , it might be amazon. it could also be a long-term deal over a decade and this could be announced as early as next week. amazon west-- once exclusive rights to broadcast thursday night football game on prime video and other football games as well and according to the "wall street journal" amazon paying 75 million to 100 million to stream the thursday night game and that is far from what other broadcast networks are paying. for instance fox's pain $660 million and the other stations ponying up about a quarter of a billion dollars. and like you called it football and also hopefully we will make soccer soccer to you. thursday night football is not all that big of a moneymaker according to analysis. stuart: but amazon is willing to pay all that money for a series
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of games on thursday night that don't generate the huge audiences, that's interesting. trying to raise the stakes on how much they will pay for football on streaming. susan: i think they are trying to broaden their audience and bring in some live sports of streamers and maybe that will carry through and they would flip through-- other prime video and pay for the subscription. stuart: thank you. moving to general motors , teaming up with south korea's company going all electric in cars by 2035 and by the way they are also looking at tennessee as a possible second factory plants. we have general electric on the screen, up 4%, $13 almost per-share. i think we were trying to put a general motors, but we put up ge. draftkings have announced a partnership
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with usc which we all now is the ultimate fighting chairmanship. seems to me. susan: we all know that. stuart: so i'm told. stuart: draftkings is expanding. susan: the sports betting site for the transport and also gets the rights to license in countdown clock and ufc will show draftkings betting odds in its fight broadcasts fresh off the one and have billion-dollar broadcast deal with disney, abc, espn and draftkings with a deal with dish network. i think it's a great partnership of two companies on the up and up and also on the expansion route. stuart: okay, draftkings into everything these days it seems. digital payment company square acquiring jay-z streaming service called title. what is this all about?
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susan: i think that is what wall street is saying because look at the reaction to square shareprice. jack dorsey digital payment company acquired majority stake in jay-z music streaming. it's a mix of cash and stocks worth almost $300 million, but jack dorsey tweeting this photo announcing the deal with him and jay-z and we know jay-z bought title iv $56 million in 2015, so he's making a bit of change and he will also join square's board of directors. we know jack dorsey and jay-z have been pictured in the hamptons last year and that people have people thinking they were working on something and here's that announcement, but if you look at a talk-- a stock, they may be thinking what is a digital payment company have to do with streaming service. stuart: seems like it. i don't know what the two have in common, but i guess it's jay-z and the guy who runs a square. i have to move on because the way to look at buzz, that's the etf
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which is dave portnoy's debut. there it is. they portnoy is on the show later today. show me the market again. was i foolish enough earlier this morning to say at the opening of trading there wasn't much price action? i was wrong. look at that, within a couple minutes we are up 150 points on the dow jones and nasdaq is up 63 points. looks like there is something of a balance-- balance. there must be a couple stocks in the dow 30 which is moving higher with 157-point gain, then there's this for california's governor knew some calling texas reopening absolutely reckless, but is that more reckless to keep shutting everything down steve hilton thinks so and he will join us in the 11:00 o'clock hour.
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stuart: i wonder if we moved the markets? we came on the air at 9:00 a.m. eastern and said where's the balance for a big tech, we have a bit of one now and we certainly have a bounce for the dow jones industrials. use the biggest win it-- winners. all on the upside. how about among the s&p 500? big winners, not sure i know them that well, but i can see general electric in there, $14 a share. i believe it was all the way down to my $4 a share about a year ago or maybe two years ago, but it has rallied. $14.
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then we have space x biggest prototypal rockets took off, it landed, the threat third test run and then it blew up minutes after touchdown. that looks like quite a blow to elon musk space x. susan: i think it is a test for a reason because they want to get it right to make sure it's safe, but it's the third time in six months were space x orlandi resulted in a fireball explosion for the first time in this round the starship prototype actually stuck the landing on a concrete pad before blowing up. no idea what caused the explosion or if it was intentional. nothing is immediately clear and it's a bit concerning because this rocket is supposed to carry humans and cargo into space into mars in the future so i think they have to work out some kinks. stuart: yes, i agree.
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susan: you want to go to space, don't you? stuart: let's not get carried away or don't pursue this line of thought, not after that. in-- a unique feature in this market-- i sit here every day and make comments about the big companies which are in the news and their stocks are going places. sometimes and i'm reporting on companies that i have never heard of it obviously i've heard of applesauce-- apple and microsoft and amazon, but it was about snowflake, never heard of them until about 18 months ago. i went to bring in ray wang who normally joins us to talk about big tech and i will get to that maybe later, but i want you to tell me about snowflake. what is behind their big success? they are worth billions. >> the success behind snowflake is basically you have to put a lot of data in the cloud and they are the data warehouse on the cloud
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and the easiest way to put it in and a lot of folks are moving in the market. it is so easy for folks to bring data from different sources and build applications on top of those sources and that's why they are on fire and they are going at 117%. the interesting thing is it forced-- forecast 100% growth, but it's an interesting time to buy so that level of growth they will hit a billion in annual recurring revenue. there's only a handful of companies above a billion in its annual revenue like salesforce and surface now or shopify. stuart: and you think snowflake will get there and you think the stock is going up from here, straight up, big-time? >> it's a clear winner. stuart: okay. spelunker, that's a new one. it's an analytic software firm. it's doing extremely well and you think the stock is going up.
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explained spulnk to me, please. >> it takes machine data and all types of data and connects it to everything else. they use the numbers of the ability platform. it's about using a yacht, automation and these are important things when you are trying to figure out what's happening inside your organization and what's interesting about them is since their ceo joined they have been in the middle of the cloud transition. they worked in the cloud completely and now they are at a point where 50% of revenue is in the cloud so back to the annual recurring revenue number is at 2.6 3000000000 and they have accrued 80% year-over-year in their cloud revenue growth so there's a little bit of transition just like when adobe went from on premises software company to a cloud company and that's what's interesting and once you hit more than 50% of your revenue in the cloud, it's like a hockey stick all the way up in terms of revenue forecasting. stuart: twenty seconds is all i
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have left. would you advise buying the big tech tip today? >> i would wait a bit more and i think that is important i think it will drop a bit more, but there is a dip if you are jumping and now. stuart: we will take it. ray wang, thank you for joining us. i'm going to put on your screen shortly some of the things canceled by the woke left. congressman jim jordan taking them on and he's on the show later today. it's been a big theme of the program, big exodus, not only are people flocking to florida, they are also fleeing to las vegas. live report from the strip coming up for you. ♪♪
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hooh. that spin class was brutal. well you can try using the buick's massaging seat. oohh yeah, that's nice. can i use apple carplay to put some music on? sure, it's wireless. pick something we all like. ok. hold on. what's your buick's wi-fi password? buickenvision2021. oh, you should pick something stronger. that's really predictable. that's a really tight spot. don't worry. i used to hate parallel parking. (all together) me too. hey! you really outdid yourself. yes, we did. the all-new buick envision. an suv built around you... all of you. i'm greg, i'm 68 years old. i do motivational speaking in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they don't recall things as quickly as they used to or they don't remember things as vividly as they once did.
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to receive one-thousand dollars off your kohler walk-in bath. and right now we're offering no payments for eighteen months. stuart: mass exodus. we have talked a lot about californians leaving and going to texas largely, well now we hear las vegas is attracting californians as well.
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grady trimble is there. i know nevada is attractive because no state income tax. what else to do have going for them? >> lower property taxes, more bang for your buck from a place like california and then moved to vegas and you could afford a place like we are at here in henderson for just outside the city. this is alex perl a realtor and she can tell you more about how hot the market is. >> homes are not staying on the market long. especially if they are in a good neighborhood, they look nice, they are in good condition and semi- upgraded, they aren't lasting more than a couple of days for mac this house is a perfect example. how long was it on the market? >> for about three days and by the third day we already had multiple offers. reporter: the buyers here are californians took what are they tell you? >> they are moving for several reasons, first property taxes, property value is also much better here than in california.
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location, the temperature, the entertainment, the activities, recreational activities. and a lot of people come here because it's so sunny four i can appreciate that living in chicago and stuart, las vegas is coming up as a city in general with a professional hockey team now so it's a city now as opposed to just the strip and casinos and that's it and it's a place that as you heard people want to move to. stuart: i'm not sure you will go back to chicago, certainly not willingly. we will see. thank you very much indeed. check the market, please there is some action with the dow jones up 44-- look at this, but gnostic is now down 87 points, that's a complete turnaround quickly. still ahead in the second hour, mike huckabee, janice dean, dave portnoy-- he's in the third hour and ohio
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congressman jim jordan and by the way i think we have mortgage rates next as well. we will be back. ♪♪ your daily dashboard from fidelity -- a visual snapshot of your investments, key portfolio events, all in one place. . .
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♪♪ start me up i november stop, i
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never stop ♪ stuart: i see a pattern developing here. stones and beatles frequently throughout the show. i hope we keep it up, that the lawyers let us do it. it is 10:00 on the east coast. check your money. a lot of price action. dow is up 50, got it. nasdaq down 150 points. show me big tech, i think we have a problem there, no significant bounce this morning after recent selling. microsoft is down again, apple is down, amazon down. fractional gain for google, facebook. facebook up about 1%. that is not. of a bounce, 10-year treasury yield, 1.46%. that is not having big influence on big tech. bitcoin, we quoted that earlier.
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dropped below 50,000 buck as coin. breaking news data just coming at us. factory orders, what have we got, susan? susan: in the month of january that continues to show recovery and strength come fog the factory floors. higher than anticipated 2.6%. whereas economists were forecasting 2.1%. that adds to really positive and bullishish news we got from ism manufacturing index, the highest in three years. manufacturing floors are turning out and so is manufacturing. stuart: frankly i'm more interested in this indicator. you know me. mortgage rates. we to the the number. oh, look at that, 3%, susan? susan: take it in yourself. 3.02%. we're above 3%. the color commentary from freddie mac economist was more interesting to me than the actual headline rate. they're saying purchase activity, yes, remains high, because mortgage rates have gone
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above 3%, they have been increasing that activity in housing is cooling off but they don't anticipate, they're expecting the rates to not to up as much, as fast as they have been coming up, because they're pegged more to the ten year treasury yield which has been accelerating. stuart: not a huge jump, 3.02% on a 30-year fixed-rate mortgage is still not a high rate. susan: wouldn't you say psychologically it goes above 3% it doesn't look as cheap as it once was? frankly it is not cheaper and has mentality on buying a home? stuart: psychological impact, i got it, but 3.02%, i'll take it if i could get it in the mortgage market at this moment. no impact on stocks about the way. we're still down on the nasdaq and. , everyone now this.
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what are the president's handlers worried about. they're certainly going to great lengths to protect him from any and all questions. in a bizarre episode yesterday his team jumped in to rescue him from questions from his own party. watch this. >> i'm happy to take questions, if that is what i'm supposed to do, whatever you want me to do. [inaudible]. stuart: okay. enough of that already. he was to enter dangerous territory, so they just pulled the plug. incredible. there is a pattern here. no formal press conference despite being in office six weeks. introducing dozens of controversial executive orders and policy changes. questions not allowed. the suspicion is that his handlers are protecting himself from himself. during the campaign he frequently appeared confused. he got his facts wrong. he stumbled over words.
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struggled to keep his train of thought on track. now he is the president. his team doesn't want him to appear confused, unfocused and certainly not old. senior moments, please. it is understandable, no administration wants to start out looking like the new president is not sharp enough for the job. it raises question who exactly is calling the shots. if the president can't or won't answer policy questions, you have to ask who is making the policy. who is in charge? at some point the president has to address these concerns. he has to open up. when he does, it should be a real press conference. no prearranged questions. no pandering to obviously friendly reporters and please, no teleprompter. anything less than that encourages the view that the new president is not really in charge and is not up to the job. serious stuff. second hour of "varney & company" is about to begin.
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♪. stuart: governor mike huckabee joins us now. do you think they're protecting him from himself, governor? >> i'm not taking any questions, stu. i do have a card i would like to read from though if i could do that. what in the world is going on? this is the president of the united states for heavens sakes. he has to ask nancy pelosi, or nance, as he calls her, what do you want me to do? this is really disturbing. i think the difference that we see is the press used to get upset because president trump would stand there before he would get on marine one and take so many questions, they had to refuel the helicopter just because he stood there answered every question respond spontaneously.
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they almost got much. that is the longest we've seen in over 100 years after president who actually held a press conference. that is pretty bizarre. stuart: is it correct to say that some responsibility is being transferred to vice president kamala harris? that she is taking a role in more and more areas? i mean, i have heard this. i believe it is accurate. what do you make of it? >> well, we don't know because she's not on camera anymore than he is. she is as invisible. we don't get really any information from her or her office anymore than we do from the president. basically we got jen psaki will circle back with us. listen, she is circling back so much, she is now dizzy from circling back to get that information. it is really an interesting thing to watch, but the more interesting thing, stu, the
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press doesn't ever call him out on it. they don't care. if the trump administration had been this evasive we never heard the end of it, ever. stuart: when he does get a proper, formal press conference, it has to be a real one. you can't, say, oh, i will take that question from you because i know what that question will be. you can't do that. that will erode confidence even further if he tried to rig a press conference. >> he can't read off the teleprompter in a unscripted press conference. he can't have the questions submitted in advance. it is not a press conference, it's a show. at some point even the media that we have now, and they are so in his pocket that every day they show up in the press room with their shine boxes to shine the shoes of anybody in the white house. but at some point they're going to start saying hey, what's up? we're here to get a story. we're not here to be hand ad press release and read it back. "new york times," "washington post," they will continue to do that but
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legitimate news people are going to soon be fed up with this kind, here is what i want you to know about what the administration is doing today and don't ask questions because you're not allowed to. stuart: got it. governor huckabee, always a pleasure. come to see us again soon, please, sir. >> thank you. stuart: we like your style. >> thanks. stuart: back to the markets, please. i still see a lot of red ink especially for the nasdaq. look at it go down 12.3%. all right let's bring in david bahnsen, man of the hour. you say that the markets, financials and energy were the dogs of 2020? you say now they are the darlings of 2021. make your case, david. >> i only have to look at the numbers, right? they really were very out of favor sectors last year. both sectors started to pick up late in the year but, clearly through the pandemic, they were the areas that struggled the
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most this the leading sectors so far this year. energy has been an absolute tear. there is nothing uncommon about that. very often laggards one year are leaders the next. i think this is really important theme right now, with all of the conversation about rotation, people talking about growth to value. people even talk about the so-called work from home stocks versus kind of the reopening stocks. i think all of those categories are helpful and interesting but i don't think it captures the heart of the matter. more than any other classification what was really doing well, versus what now will do well, it is unloved, versus the new loved. what was unloved last year, becomes the newly loved this year. financials and energy are one example. i think there will be more going forward. stuart: are you worried about the overall state of the market? it appears we can run up and run up and run up, we've hit record highs, nice series of them
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earlier this year, but now there is a retreat, something across the board. is it a turning point, david? >> first of all, stuart, you ask if i'm worried. that is a really important word. if someone is worried about it, they may not fully understand what 2 means to be a stock market investor. this kind of volatility, this kind of uncertainty, it is very basis for the premium one gets in the return as a stock investor over time. so it is not just that i'm not worried about it. i'm excited about it. if there were no volatility in stocks the return we would get would be much lower but i have been saying for a long time, i was clearly quite early to this conversation, that big tech was very overvalued. popularity contests can go on for a long time but there was a disconnect from value and reality. i don't know how that plays out from here. we're not personally invested in the kind of big tech, new tech type names. so i'm not worried about it but i do think that equities have a
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rich valuation but you can justify it to some degree. i would rather focus, here i go, on the dividend growing names. i think it gives you a better risk adjusted return profile going forward. stuart: got it. that is what you specialize in. that is how you made quite a lot of money. david bahnsen, thanks for joining us. appreciate it always, david, thank you very much. in a market like this you will have big movers. susan has got the list. what have you got for us, susan. >> start with general electric because you've been obsessed with ge this morning. we're looking for a three-year high of general electric. the morgan stanley calling it a 17-dollar stuck. an upgrade from abs. tesla gaining a little bit of 25%. these things are turning in a hurry, aren't they? we were up a few minutes ago, now down 5%. adding to that 25% drop of tesla from its peak. early investor ron baron,
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selling a quarter of his tesla stake. that is making the rounds on wall street. morgan stanley reporting that the ford mustang mach e is taking sales away from tesla right now. we'll show you amazon. we've been looking at amazon. it was recovering a little bit of the 9% losses so far this year. but amazon making news because they might be paying double, over a billion dollars for more nfl game rights for prime. boeing up two to 3% this morning that is coming back in a hurry. a definite reopening winner. we've been up 10% for the stock the past week. it is getting more orders for its troubled 737 max jets as more airlines are flying. everyone is watching for noon hour question and answer period from federal reserve chairman jerome powell with what he says about stimulus and interest rates. stuart: yeah, that will move, it could move the market. i don't want to say it will. susan: it might. stuart: it could move the
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market, yeah. unfortunately we're done at 12 noon. i trust -- got to watch it. susan: yeah. stuart: susan, thanks very much. now this. president biden not happy that texas and mississippi reopened. watch the neanderthal thing again. here we go. >> the last thing, the last thing we need is neanderthal thinking that meantime everything is fine, take off your mask, for get it. stuart: neanderthal thinking? tennessee senator marsha blackburn has a thing to say about that one. she son the show coming up. what do world leaders think of president biden? former secretary of state mike pompeo says they see weakness. watch this. >> president trump would be, he talked to the media all the time. when a leader can't do that, when they can't take questions, can't explain the policies, leaders watch that. they wonder. stuart: former trump national security advisor, deputy
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national security advisor kt mcfarland. she is on the show. she will talk about weakness. we'll be back. ♪. [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. ♪♪
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nasdaq is off 184. how about this, former secretary of state mike pompeo says president biden is projecting weakness and world leaders are noticing. roll tape. >> president trump would be out there, he would talk to the media all the time. when a leader can't do that, when they can't take questions, can explain the policies they're engaged, seem to be hiding behind staff or the fact they don't have time, they watch that. weakness begets wars. strength will determine whether an adversary is deterred whether our allies will want to get in with us when times get difficult. stuart: very interesting. if biden shows weakness as pompeo says he does. what are the consequences? >> there are a lot of consequences all across the board. i talked to president trump a couple days ago, he said, we were going around the world on foreign policy issues, stuart, with china, with iran, they never would have the nerve to do
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to me what they're doing to biden right now, they're pushing him all around. chinese issued a warning to president biden, here are the red lines. i don't mess around with the uyghur concentration camps. you don't talk about hong kong. we'll do what we want with taiwan. you better sit back, don't say a thing. the chinese president saying the united states is down. it is declined. it is weak. we're on the rise. we plan to replace the united states within the decade. they're talking about this openly, stuart. they're not even disguising what their goals and their motives are. joe biden, nice guy that he is, but he has never been tough on china. he has never been tough on anything. it is over as far as the chinese are concerned. stuart: what about iran? president biden talked about going back into the nuke deal with iran and i've seen a couple of occasions recently where iranians, or their proxies have
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attacked american troops. so, they're not taking any notice of biden, are they? >> no. in fact they already think iran nuclear deal is done deal. if biden will go back in, iran nuclear deal was a fraud, sold by the obama administration as a plan to stop iran's nuclear program. it was never that. only to put it on pause a couple years. meanwhile years are clicking by. if biden rejoins the nuclear deal, iran gets nuclear weapons, legally gets nuclear weapons within the decade. the other countries in the region will rush to get nuclear weapons to match iran. any thought that biden thinks that he has, that he is going to negotiate a new deal with iran, he has given up the leverage right up front. that is the most upsetting, stuart. he had the ability to cut a tough new deal and threw it away. stuart: bring it closer to home, what is president biden's relationship with mexico? how does it compare with trump's
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relationship with mexico? you know it. we got a crisis at border right now. >> it will only get worse. they may not have liked how president trump got them to the point they did but the biden administration had terrific opportunity. immigrants were on the mexican side of the border, they were staying there until time to be processed. biden said come on, we have open borders. this catch-and-release policy, it might be great if you're fishing, not dealing with immigration. what is happening is that the migrants who are coming in, illegals coming in they're not getting tested for covid. the ones who are being tested for covid, 6% of them, they're coming in. they're being released into the general population. so open borders, covid and that is not to mention the fact that as we come out of this pandemic what are the jobs that will be the last ones to come back? unskilled, low income jobs. guess who is competing with those? all illegal immigrants will come
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in and be legal because joe biden has an open border. stuart: i don't think americans like being pushed around. kt, thanks for joining us. we appreciate it. we will see you again soon. thank you very much. >> thanks, stu. stuart: get back to money. lots of movement today. arc innovation, that is cathie wood's high flying fund. susan has been talking about this for couple weeks. the fund is down, 4.6%. what's the problem? susan: she is the star fund manager of the past year. she is under pressure given her flagship arc innovations etf fund is down 20% plus so far this year. we're only in march. this is a bear market when 20% down from the recent peaks. she has to prove to the market, wall street, she can continue her winning streak. now wood yesterday, she said she is doubling down on her big tech innovation bets. she bought another 2 1/2 million shares of palantir which was
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rallingly. also another 305,000 in teledoc. trading wow, at 192. we were close to $300 for tdoc. a. calls banks a value trap. optimistic on bitcoin and zoom undervalued. put $95 million on to zoom video. cathie wood is the biggest name since bill gross? with the fund managers, you have to continue this winning streak, as you know. stuart: you do indeed. she is on adown swing at this moment. how about amazon, they are bidding big for "thursday night football." that is a good story. there is another one, sir, i'm intrigued about the cashierless technology. you walk into a store. you pick what you want, you walk out, pay electronically. where are they doing this now? susan: they're expanding internationally, to the uk. first one outside of america will be in london. so this is interesting.
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amazon go where you walk into the store. you pick up everything you want. you just walk out with it without head towing cashier. you have cameras, everywhere, reads bar codes you put into the cart. there are roughly 27 in the u.s. new york, seattle, san francisco, chicago, new york. now london. i won't venture to ask if you have ever been in one, but i'm guessing not. stuart: i don't. i don't have apple pay on my smartphone. >> you need amazon prime to actually pay for it to check out, not apple pay. i have already told you how to use by the way, twice. stuart: yeah. you will have to do it again i'm afraid. because i lost track of it. susan, sorry. i'm going to move on, okay? i think it is time i really moved on here. cancel culture's next target, would you believe jeep? iconic cherokee may be on the
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chopping block. details ahead. not everybody is happy that some states are rolling back mask mandates, opening businesses. the president calls it neanderthal thinking. tennessee senator marsha blackburn will respond to that. i suspect forcefully after this. ♪.
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stuart: got to keep constant check of the markets. they're changing all the time. here is the status. dow down 14. s&p down 11. look at that nasdaq, down 124 points. look at home depot. they're way down. they are a dow stock off 2%. that shaves 40 points off the dow. disney also on the downside, also a dow stock. that is shaving 26 points off the dow. had it not been for home depot and walt disney, the dow would be positive. all right. president biden, tightening the limits for who gets the 1400-dollar receive checks. what are the new eligibility brackets, susan. susan: cap, americans making $75,000 and less you will still
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get $14,000 checks. $150,000 for couples -- 1400. anybody making 80 grand a year will not be eligible. that is more strict than the house bill approved. they capped participants at $100,000 a year. this means americans will not get anymore stimulus checks. that will save $15 billion from the stimulus package, according to the brookings tax institute. president biden agreed to stricter rules. he has to get moderate senate democrats on board. he needs every society with a slim 50-50 majority. schumer is aiming for the bill to be on biden's desk with signature in 10 days. checks likely direct depast ited, mailed out a few weeks after that. a few weeks at end of the month. stuart: fewer people by the end of this month. president biden's cabinet picks are meeting some resistance. neera tanden, her nomination has
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been withdrawn because of her previous past tweets. now when it comes to a vote on half very air becerra hhs, that vote is tied. marsha blackburn, joins us from the great state of tennessee. what will happen with beccera with a tie vote? >> the way it will proceed with that, he goes to the floor four hours of debate to see if he can be discharged from committee. you will see that debate take place. his record with the way he went after the little sisters of the poor, suing them, the way he has pushed back against religious liberty. these are all things that cause, call him into question. you have someone who has zero health care experience. zero. experience in public health. yet he wants to be the secretary
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of health and human services, manage this trillion dollar budget during the time of a pandemic and he has no health care experience. so stuart, what you're looking at is why does joe biden want him there, why is he trying to push him through senate approval when there is so much opposition to him? stuart: because he is hispanic. he is the former attorney general of the state of california, which is still a, what is the word of it, a state that welcomes illegals and i think this is a payoff for california's vote for president biden. that is just my opinion, senator. not necessarily yours. >> we know that javier becerra would put illegal i am my grants in front of american citizens when it comes to health care. stuart: i think so. i have to move on to president biden's neanderthal comments.
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for benefit of viewers who just joined, i know you have seen this before, roll that tape again please. >> last thing we need neanderthal thinking everything is fine, take off your mask, forget it. stuart: he said that is neanderthal thinking. is tennessee guilty of neanderthal thinking, senator? >> stuart we were called neanderthals when i led the fight against imposition of a state income tax in tennessee. you know what i did? i started the neanderthal caucus. neanderthals are hunter, gatherers, protectors of their family. they are resilient. they are resourceful. they kin to their own. joe biden needs to rethink what he is saying about states moving away from mask mandates. in tennessee we have a lot of people moving away from mask
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mandates and our counties and you know what? our budget is in good shape. our kids are back in school. people are going back to work. those that had been adversely impacted by covid that still need targeted, timely relief, you've got communities coming around these individuals and we are going to lead the way out from this pandemic. stuart: yeah. senator marsha blackburn, thank you for joining us. what a pleasure. >> you got it. stuart: see you again soon i hope. thank you very much. despite states beginning to lift mask mandates, some companies say they're still going to require masks in their stores. which stores are we talking about, susan? susan: i was going to talk about the airlines because the faa wants all airline crews and passengers to continue wearing masks on board. so they reiterated that airlines should follow president biden and cdc recommendations for continued mask wearing.
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new guidelines, all passengers flying into the u.s. from another country have to present these negative covid tests before getting on board. crewmembers are exempt. faa recommends they should be regularly tested. there have been cases passengers kicked off flights not wearing masks. a frontier airlines front, entirely canceled from new york to miami refused to wear masks for religious reasons on board. some of the airlines are some of the best perform so far. reopening, recovery supply vaccine trade. stuart: there is dispute about the canceled frontier airlines flight. i'm not sure the religious group you're talking about did indeed to refuse to wear a mask. as i understand it, it was just a 15-month-old child that was not wearing a mask. look -- susan: part of the same controversy, right? stuart: this is clearly contentious. it is clearly contentious. at some point we'll get to
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stores which are still requiring masks. we'll get to that later on. spacex, talk about them, got a text here. spacex nails the landing, as you can see, explodes. this was the rocket that is designed to fly people, i believe around the moon and back again. what does that do to spacex's space program? the classrooms may be closed, the courtrooms are open. parents are suing to get their kids back in school. live report on one of those lawsuits coming up for you after this. ♪.
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stuart: where are we on the market right now? i will tell you very briefly. up 30 for the dow. down 40 for the nasdaq. stocks have been all over the place so far this morning. let's change the subject.
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some teachers are refusing to return to schools for in-person learning. parents are fed up with this. they're taking action. after all it has been a year. lydia h-u joins us. she is in new jersey. lydia, some parents are taking the case to court, is that right? >> stuart, that is exactly right. we're in month claire, new jersey where parents basically said they had no choice to file a federal class class-action lawsuit against the school board. they say teachers won't return to the classroom. in the lawsuit they're not seeking money. they just want a court order that says schools have to reopen. we talked to steve, he is the lead plaintiff of the group that includes more than half a dozen sets of parents. since the filing he says that he has heard from more parents throughout the town who say they want to join the class action, but they say they fear retaliation if they speak out demanding in-person learning. listen to this. >> have had a lot of support
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locally to folks who are aspirational plaintiffs but very concerned about their professional, the professional impact of themselves. they may be business owners, real estate agents. they have local presence and, you know, how divisive it is in the country right now. reporter: now, stuart, he also adds that they have heard from, from parents from 20 other towns across new jersey asking for help because they too now want to file their own lawsuits and in their own towns. he says those lawsuits will be forthcoming. meanwhile president biden saying this week that teachers should now have access to vaccines across the country but still the teachers union for the montclair school district, when reached for a comment would not commit to any in-person learning even with this announcement of about vaccines, but they did say, quote, it does not change our opinion. now the school board and the superintendent said they could not comment on this active,
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ongoing litigation, but it should be noted that the school board filed its own lawsuit against the teachers union, trying to get them to return to the classrooms as well. so as we see, as vaccines are becoming more widely available, it doesn't appear to be much progress about the return to classroom at least here in montclair, stuart. stuart: lydia, thank you very much indeed, right there, month claire new jersey. home of upper middle class liberalism. that is just my opinion. i thank you, lydia. check the markets again, dow, is up. s&p is up. nasdaq down 21. let's go with big movers, start with -- susan: comment on a lot of geographies and towns across america, don't you? stuart: i am absolutely incensed that our schools are not open. i know month claire, new jersey, very, very well. it is a upper middle class, thoroughly liberal enclave. susan: correct. stuart: i'm glad to see they're going to court to get their
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schools open again. it is about bloody time. don't let me digress. tell me about square, please. susan: square ask down after announcing, a little hot under the collar today, square is down after announcing a 300 million-dollar deal to buy up jay-z's muse title. jay-z joining the board. you will see betting odds on draftkings in the graphics during live ufc fights. snowflake, cloud warehousing company, huge quarter end 2020 guidance a little weak. we are much lower earlier on. and also announcing results, wider loss in the final three months of last year. announcing a 6 1/2 billion dollar deal to buy its rival. 6 1/2 billion dollars might be a little much, it represents about
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a fifth of okta's market cap. stu, are you okay? stuart: i have calmed down. i would like to make the point, month claire voted at least 60 or 70% for joe biden. i'm digressing again. let's talk about the starship which exploded. there is the video. at least it landed. wait a minute, it landed, didn't it? that was successful. susan: first time the starship prototype actually stuck the landing on the concrete pad, concrete pad, blowing up right afterwards, as you see in the screen. this is the third time in six months for spacex landing of a starship prototype resulted in a fireball explosion. so no idea what caused the explosion in the first place. whether or not it was on purpose. not immediately clear. we know that spacex, elon musk is a bit after showman. we're showing this, giving him free marketing, exposure.
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this is something they need to put into consideration. the starship prototype is supposed to carry humans, cargoing, to mars in the future. some people think there might be testing to get the kinks out further. stuart: i would say so. susan: purposely, spacex, musk i wouldn't say he didn't think about this this has been playing on every news channel, online, social media. stuart: gets publicity i guess, whether it is good publicity, bad publicity i don't think elon musk cares. susan: cyber truck. stuart: publicity is good. i have calmed down, susan, okay? but i am moments from now, going to talk about the cancel culture. because, the woke left is now going after jeep. oak. don't get me hot under the collar but do get me the story. susan: 46 years of production, not finalized yet but the owner of jeep says they're open to
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dropping the cherokee name. this is after the chief of the cherokee nation asked the car company last month to change the name, arguing that the use of the cherokee brand on cars diminishes the country's understanding of what it means to be cherokee. we know that jeep is owned by fiat chrysler which recently merged with france's peugeot. they formed a new parent company sill atlantis. chief cherokee, grand cherokee account for over 40% of the jeep sales in the u.s. this is brand for 40 years, five decades. washington redskins no longer. cleveland indians no longer. maybe no more jeep cherokees in the future. stuart: i would like to say jim jordan is going after the cancel culture. jim is on the show later on today. also still ahead, barstool sports guy dave portnoy. he has helped launch a new etf.
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he will tell us about it in a couple minutes. first new york governor's cuomo apologizing. he has been hit with sexual harrassment algations. no apology for the nursing home scandal. janice dean who lost both her in-laws in a nursing home in new york. she is on that and she is next. ♪.
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stuart: great new book is out it is a "fox nation" special to boot. it is called, make your own sunshine. all about finding the good times in hard times. finding the good in hard times. the author is none other than our very own janice dean, who joins us now. janice, how do you find the good in hard times? because you've been through plenty of hard times. >> well, i think it is like the weather, right? you go through stormy periods but the sun always comes out. i mean there is truth in that. and in the book i, the common thread through all of these stories, stuart, is they have gone through challenging times. they realized that life is short. it is precious.
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we have to be grateful for what we have around us. and it is important to find the goodness in life and to try to spread that like sunshine. stuart: janice, you're so right because there is so many times in all of our lives you really should step back and count your blessings. i think that is what you're doing in your book but i want to raise this issue, we have to talk to you about this, governor cuomo has not apologized for the nursing home scandal which i know touched you personally. what is your response to governor cuomo? >> well he is never apologized. he has never taken any responsibility or accountability for putting over 9,000 infected patients into nursing homes. he never said, i'm sorry for your loss. instead he blamed everyone else from the nursing homeworkers to the nursing home residents to god, to mother nature instead of the man that signed the order to put those covid positive
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patients in the nursing homes and for months and months he covered up the total number of seniors that died. new york was the only state that didn't count those died in the hospital like my mother-in-law. but the truth is coming out. there is a federal investigation. there is an fbi investigation and the doj has an investigation. he has lawyered up. he hasn't lawyered up for the harrassment issues. he has lawyered up for the nursing home issues. and so i pray every day that we do get those answers. stuart: well, have you been able to make sunshine out of that particularly unfortunate and bad situation? >> i am speaking on behalf of the thousands of families that want answers and i have met amazing people that are now part of my family because they have gone through the same kind of loss. that's the sunshine that's in my life, is those people that i am trying to get answers for. the goodness and the kindness.
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i have seen and felt the love and prayers from not only fox and fox business and all my, you know, my family members there, but strangers as well. and their prayers and thoughts, carry me through the darkest times. stuart: we and our viewers will always be with you. make your own sunshine, janice dean. seems like you've done it. >> i love you, my friend. thank you. stuart: sure. see you soon. we've got a big hour coming up as well. barstool guy, portnoy. ohio congressman jim jordan. can't wait for that. he is on the cancel culture. steve hilton, dan heninger in the next hour. could even inspe. that's how you do it right. usaa insurance is made just the way ..
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>> the last thing we need is neanderthal thinking, take off your mask, forget it. >> hopeful to know what your elected leaders think. governors are taking the power back to the people. the political class, the elites don't want it to happen. >> with texas opening back up, more states will follow. the free market will operate freely. capitalism can work its magic again. this reopen will spark everything. that is great about america.
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>> blowing out the top of the charts. can't buy enough here. is that an 8% pull back? time to find out. ♪♪ letting it all hang out ♪♪ stuart: brick house by the commodores. i know the two. it is 11:00 on the east coast. it is thursday march 4th, got to check those markets, they are all over the place. the nasdaq was down 150 points, down 5. they are at home on the nasdaq, waiting for some kind of bounce, a modest bounce, they are all up one% or better so i guess you could say we have
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something of a bounce for big tech this morning, the 10 year treasury yield was very important when it came to the price of big tech stocks. it is a one.47%, not much change in the long-term yield. now this. sweeping elect oral reform passes in the house. thank heavens it is destined for certain failure in the senate. this bill is so wrong on so many counts. taxpayer money would be used to fund campaigns, every one dollar raised by grassroots organizations, the taxpayer kicks in $6. are we happy with that? bernie sanders would be. the bill establishes a federal right to a mail in ballot, no identification of any kind required. we can't be absolutely sure who was casting the vote. notary or witnesses overruled.
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the bill allows vote harvesting, the picking up a limited number of steel valid. that's how we organize the political solidarity in the community. do you think the vote harvester might apply a little pressure to vote the right way. and if it has a valid postmark, in close elections. 6% of those late arriving vote in pennsylvania don't have a legible postmark, what will lawyers think of that? this election formula grab bag designed to boost the democrats turn out. another attempt to turn the pandemic voting crisis to the less advantaged.
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they want to install a permanent win. the good news it doesn't have a prayer in the senate. it would take 60 votes to pass this thing and those votes are just not there. the third hour of "varney and company" is about to begin. i think it is time we turn to dave fortnor a who is making a buzz after backing a new etf's hold on a second, roll the tape first, roll it. >> the name of etf is buzz like a be. >> i really admire your tv production. you do a good job making it
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look like live-action tv. it is based entirely on social media chatter. does that mean you're etf is going to invest in and buy the names that pop up on redit. a lot of the means popping and going is a long-term view, redit stock. stocks with headlines, everything. stuart: would it be actively traded, moving in and out of redit stocks rapidly. >> look at the different stocks and the most positive sentiment, it isn't something every 24 hours or 48 hours traded in and out, that's not how it works.
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stuart: which kind of stocks can you define which kind of stocks would be in your etf? >> it could be anything. and and i got in contact, it is positive sentiment. there is a notion people are talking about stocks on social media and readit stocks, people are talking about every stock there is. we look at positive sentiment or anything, the one requirement, $75 billion market cap to qualify for etf. stuart: that is the only qualification required, $5 billion market cap, nothing less then that. >> it will show up in the rankings for a certain time
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before that. it can't show up for 24 hours. stuart: i have been following you for years. we talked sports, you were a guest on the program, we used to talk sports and pizza and that is what we did and then you turn to stocks and give yourself the nickname davey day trader. have you abandoned sports and moved to the stock market? >> we are all over the place. i've got march madness around the corner. we had a chance to win the national title. you have to constantly reinvent your self and do things that i enjoy and people latch onto. i didn't plan the stock trading thing but i enjoyed and take national progression and then have etf, what is in etf? don't know what that means.
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stuart: you are so honest, that is the problem. >> i think people like it, what they are doing, this -- if we don't make money on it i would never take money. don't believe anybody else who is a money manager or if he loses, that is garbage. we are honest but that is why people like it. they are acting like a stock. the power -- people like authenticity. stuart: what about the fund you established. got millions of dollars in it to help the people who have been hurt by the lockdown. gave money to a lot of
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restaurants as i recall. where does the fund stand now? >> we raised $36 million. every day i am calling local businesses, restaurants, bars or anything. we have a sense of normalcy soon and people won't need money is much as we did but over 220 or 300 businesses now. we made a real distance, truly appreciate everybody who donated. it has been gratifying. i wish to help everybody but we made a difference in a lot of people's lives. stuart: yes you have. you are all right. love to have you back on the show live frequently, do it please if you can and we will see you again soon. we should check the big tech stocks, looking for a bounce. there is a modest bounce in progress, big tech has been way down recently. apple, amazon, facebook, microsoft up a little bit. seeing a little bit of a bounce. market watcher in our 11:00
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hour, big tech is rebounding a little this morning. are you buying in, would you advise buying into big tech at these levels? >> if you are an investor you wait as we reopen the economy, a shift out of facebook, amazon, netflix, google, into some other areas of the market like financials and energy. i think that is a positive for a technology to sell off because that means there is broader market participation. you just had portnoy, the clip said stocks can actually go down but so far portnoy has me beat and he made a lot of money in technology, it was higher in the pandemic but you see the nasdaq sell off a little bit as
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we reopen the economy and that is a positive. stuart: haven't i missed the boat. i've seen airlines, cruise lines, some hotels, energy, financials, those are all back to back open up, haven't they run their course already? >> that is a good question. you look for the sectors and stocks that are not above they were pre-pandemic levels. carnival cruise lines up 33%, maybe you don't want to be in traveler leisure play before we even are allowed to take a cruise, but united airlines, that is based on international travel early in the stages of the reopening and something like united has 2 run when looking for value. like carnival for example.
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stuart: you published a book titled the man's guide to corporate culture. do you have any advice for governor cuomo of new york? >> yes was a lot of advice, too much to cover. it may be too late but to keep the good guys out of trouble in the workplace and when you look at these recent allegations of governor cuomo, you talk about various parts and kissing those are not accidental incidents but these are allegations to let the process play out and don't want to blankly assume he is guilty just by being accused. my best advice would be if you're going to complement someone for example land if you
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want constructive feedback and constructive critique you don't comment on anyone's body, creeping the word i out of the statement. for example, you look great in those suit pants. it is a comment on your appearance, your body parts. if you are in the media industry or entertainment industry, critique on your appearance, that is the line of business you are in but if you are in politics or a corporate setting you don't want to comment on someone's appearance ever. that would be my best advice but if you pick up information in the guide to corporate culture. stuart: it is a minefield and i believe it great there. still on that, andrew cuomo
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apologized but no resignation following allegations of sexual harassment. an apology but no resignation. is his political career over? we will discuss that. california governor newsom says it is, quote, absolutely reckless to reopen texas. isn't it more reckless to keep everything shut down, steve hilton coming up. first, nearly 70,000 people packed up and moved out of california last year. a lot of them headed out east to florida. the ones closer to home, las vegas. no state income taxes, low home prices, take you back to the script or back to las vegas to see how attractive it is.
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stuart: that mass exodus, california's sling that stayed in does, some head to texas, but nevada, and no state income tax either. is there a housing boom there because of the xfats coming to nevada? >> that is one big reason for and this house is the perfect example, this is 3 bedrooms, 2 and a half baths, good luck finding something like this in los angeles. alex got this house under
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contract. you are finding a lot of californians fleeing that state, what are they looking for other than low taxes? >> in addition to low property taxes, no state income tax, value for the homes here compared to where they are coming from is a short drive, it is an easy drive, recreational, outdoorsy, entertainment, it has become a foody town. >> reporter: they don't have to compromise much. talking about texas, florida, they are hot and it is competitive. any advice for buyers or sellers? >> absolutely. if you are a buyer, come in with a strong offer. if you use financing be preapproved, reduce your contingencies. >> reporter: for sellers? >> you want to preplan so please declare update if you're going to and stage. >> a lot of our viewers are interested i getting out of
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high-tech states if they are planning on moving. stuart: if you are selling raise the price in a hot market, in the hot market raise the price. you are all right, thanks very much indeed. let's go to california. governor newsom says it is, quote, absolutely reckless for texas to drop their mask mandate and fully reopen. steve hilton joins us now. i would have thought it was more reckless to get everything shut down after a whole year. what say you? >> i am in california. i'm not fleeing, i am fighting to fight for change in this disastrous state and that is my first comment. why is he even taking a moment, what he has caused in california to comment on somebody else's state. secondly, to your point, what
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is really reckless is how he has been handling this pandemic. this morning on the local news, i was reminded it is nearly a year since we have been in lockdown in california. a whole year of lockdown. what has it delivered? almost exactly the same outcomes as other states, florida as many have pointed out has a higher proportion of elderly residents who are much more vulnerable and one specific thing i would point out, the most serious example, the gavin newsom implemented here was back before christmas, that imposed the statewide bomb in outdoor dining, and to do outdoor dining safely and responsibly.
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they are more likely, that single decision contributed to the spike in cases that we saw. what he is doing is more reckless. stuart: you make your point very well. i don't understand why california is doing this, is it the politically the wants to keep control so you lock everything down so you're in control and they are not? is that what is going on? >> that is the reason. the power has gone to their points. those on the left always had bigger faith in the role of government and the technocrats in a perfect way were those of us on the right always placed more trust in people taking responsibility giving them freedom to get better incomes.
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this pandemic is completely amplified those tendencies. a 1-party state, everything is run by democrats with those controlling tendencies and that is the explanation. stuart: pushing for safe reopening. what is happening in california. the president and first lady have any influence to get the schools reopen their? >> i am really angry about this. over and over again as parents reaching boiling point, democrat politicians are pandering to that trying to look if they get the schools open, constantly calling on schools to open saying schools should be open and doing nothing about it. even gavin newsom in california, published the plan
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to get schools open, nothing of the sort. it is bribing teachers unions with even more taxpayer money without any requirement that they actually open, so 6 to exploit that pain and anguish parents have with these political stunts instead of doing what they should be doing which is standing up to the teachers union which is the real reason schools are closed. stuart: i know you will stay in california and fight, i have a few spaces in my residence in various places, room for you. steve hilton, i will be watching the next revolution on fox news sunday night at 9:00 pm eastern and i will be a viewer. we appreciate it. the bachelor, the host thereof, chris harrison, breaking his silence. he stepped aside from the show
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after cancel culture came after him and earlier today, the jeep cherokee, that name will be history soon, another victim of cancel culture. jim jordan doesn't like it. he really doesn't like the cancel culture. he will take them on it is on the show next. ♪♪ american man ♪♪ coming to your town ♪♪ american man ♪♪ ♪♪ turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about.
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stuart: let's check the market, we've been open for two hours, the was up 60 and the nasdaq down 33 points. susan, tell me about rocket companies. >> they are back up. part of the meme stock rebellion we have been talking about, the new favorite, targeted in the past we, it has shorted betting 40% of stock will fall. this is a short squeeze and might be regaining some steam
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here and the meme stock trade, i will show you tangier factory outlet, small retailer, tons of short interest, the stock about a third of stocks being shorted in the trade, game stop losing steam. these are down. the dave portnoy interview, he said he is not in his social sentiment but if he is scouring twitter and game stop and wall street, game stop in all these platforms. stuart: he did say he was going to buy all the stocks on redit. they will pick and choose. not sure what his criteria is other than only putting money into stocks with the company valued at $5 billion, no penny stocks or something like that.
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let's have a look at the bigger text box. are they coming back after the recent selloff? >> i did see that. after the worst two days a bit of a turnaround and, we were at the bottom, what happened with tesla in particular, tesla is under pressure this morning, they are adding to that 20% fly from the recent peaks. and ron baron, selling the start, the talk of wall street. the zoom is undervalued, and she single-handedly compelling the stock back up after by $95 million worth, google rallying back, and big tech names, and the same for
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walmart, some lift at the 12 noon session, jerome powell and what he says about interest rates where yields are going and what he plans to do with stimulus to continue from here. >> we started the show at 9:00 eastern, the big tech dip. the answer after through hours of trading, but some defiance right now. >> he's not going anywhere. despite multiple allegations of sexual harassment. role tape please. >> i'm not going to redesign. i do not believe i have ever done anything in my public career that i am ashamed of.
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stuart: dan, obvious question, is his apology enough to keep him in office at the end of his term? >> it probably is enough to keep him in office. the alternative is impeachment which i doubt the democrats are going to bring themselves to do in that legislature or a resignation. 3 women made these accusations against him. i would say as a rule of thumb if one more came forward with a significant accusation he may not be able to hold on. that is the way these things go but someone has to speak up for the voters of new york. they elected andrew cuomo to run that state for better or worse and i particularly don't like the idea of an elected official being pushed out of office on this basis but this
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is new york state and we know anyone who has been in this state for a long time knows that one of the great democratic pastimes is carving each other up. anyone who has been watching bill deblasio the last two days do his interviews on television, virtually doing handstands of joy over the problems of his archenemy. andrew cuomo is not going to get much support internally for staying in office but i think he will get it out. stuart: let's talk about your article in the wall street journal titled trumpism according to trump. many of the ideas described in the cpac speech were identified with ronald reagan. do you see a similarity between what donald trump was saying it cpac and what ronald reagan was saying in the 1980s? >> i do in the passages which i singled out which is where donald trump stopped to talk
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about trumpism. it means whatever people think it means, democratic left, the evil empire and threat to democracy, and it is described as populism based on various grievances of one sort or another but donald trump himself addressed this issue directly, he said he hears about trumpism and i will tell you what it is, he went through a list of 12 or so discrete political ideas, included strong trade deals, deregulation, interpreting the constitution as written, standing up to china, law and order supporting the police. many of these, what i argue is as described by donald trump this is the basis for having a conversation among republicans about what trumpism means and
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it means traditional republican ideas, donald trump described them. the question i raised in the column is whether donald trump himself is the person to carry forward trumpism, it was passed along to a younger generation of republicans like ron desantis of florida, christie gnome in north dakota, tom cotton of arkansas. that is the question but trump did an excellent job laying out the foundation of a discussion of what trumpism should be in the republican party. stuart: we will take it. see you again soon. change of subject entirely. rioters caused a half billion dollars worth of damage in
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minneapolis following the death of george floyd, the city is bracing for more destruction. the murder trial is about to begin. and what do dr. seuss and gone with wind having column. answer? they are both targets of cancel culture. how to fight his dangerous trend. ♪♪
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stuart: congressman jim jordan wants to hearing on the dangerous trend of cancel culture and joins us now. on our air this week, we discussed whether the cancellation of dr. seuss was a
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tipping point, an egregious example of cancel culture. was a tipping point? >> i think you are right. americans are fed up with this, kermit the frog and the muppets, mister potato head and dr. seuss but they came after you guys, fox news and newsmax. this is frightening were the left wants to go. this is the biggest threat to freedom we face. do you have a functioning first amendment where only one side is allowed to talk. do you have free speech where only the left determines what gets said? that is a frightening position, the house judiciary committee, protecting the bill of rights constitution and fundamental liberties, and how bad this is, should scare everyone. we call on mister nadler to have a hearing. how to make the first committee hearing on this subject. stuart: weight a minute.
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you asked gerald nadler, democrat from the upper west side of manhattan, new york city, asked him to hold hearings on cancel culture. can't wait to hear his response? >> we haven't got any response. think about your first amendment liberties, right to assemble and petition your government, freedom of the press, but your most fundament liberty is your right to speak and when the founders put this to gather, this amazing constitution, when they put it together, they wanted you to speak in a political fashion and not be attacked for doing so. that is exactly what the left is doing, if you speak against the woke mob you will get canceled, and you will face what very weight of the new york times called the digital thunder dome.
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they will come after you. it will keep people silent and it is so wrong for the country, you would think again the judiciary committee would want to have a hearing on this and advice how highlight this is. stuart: get a backbone, somebody, and stand up to it. i want to show you what president handlers are protecting them from any and all questions. watch this please. >> i am happy to take questions, whatever you want me to do. stuart: i don't think his handlers will let him answer questions and i am inclined to ask why not. >> think of the contracts, think of when donald trump would walk out of the oval
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office on the way down the ground -- white house ground and start taking questions, sometimes he would stand there for 30 or 40 minutes and take questions. he was the most transparent president in history, the most effective in my lifetime of doing what he said he would do, contrast that. what a contrast, the american people deserve to hear from the individual they put in the oval office, they deserve to hear from the leader of the country and we are not getting them. stuart: jim jordan, thanks for being with us, always appreciate it, come back soon. change in subjects. businesses in minneapolis bracing for more riots because the city hosts the murder trial in the george floyd death this coming week. matt finn is there, how are businesses preparing?
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>> a lot of business owners say they will board up again. they beefed up security, one tells us there will be police on top of the roof. wells fargo bank is being demolished after it was lit on fire and across the street from us is a large shopping plaza that was burned, looted and flooded, that business owner tells us the majority of his tenets are immigrants in two units did not renew their leases and minnesota's governor estimated the damage to be about half $1 billion but some estimates place the property damage to be closer to $2 billion is now in minneapolis these businesses are getting back on their feet, so we talked to reopened a couple weeks ago bracing for a potential another round of mayhem and violence as the trial is set to start on monday. here is minneapolis business as we talked to about their experience last summer and their hopes for peace in the
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coming weeks. we had a lot of highs and lows. you really feel devastated. >> we start from the bottom up and it took a long time to build a business and we will always be dedicated and focused. that is the american dream. >> reporter: right now we are on the south side of downtown minneapolis but if you go downtown there are lots of fencings up and lots of razor wire, the city is parting with state and local agencies and the fbi to prepare for this upcoming trial. stuart: thank you very much. see you again later. youngsters use computers, it is a generational thing, they are stepping up to help seniors
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stuart: you know the story about older people having full using the computer to secure a vaccine appointment. the younger generation is stepping in to help. jerry willis is with us. what is this about 12-year-old helping 1000 people get the jab. gerri: you are right. the president this week said all americans will have the vaccine available to them by maybe the problem is the appointment is as easy as getting a front row seat to a springsteen concert. we are at the westchester county center, 1500 people day getting the jab but the state of new york is behind the curve, the middle of the pack when it comes to an occupation rates. you can see the many full-screen right now, 23,000 per 100,000 residents with this young man decided he was going to help so he and his dad david
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set up a website called >> reporter: have that -- gerri: the way this works is you fill out a firm and sam and david's website, over and over again until you get an appointment for a vaccine. about 1000 people have been helped, they are doing great work including me. take a look. this is what i give you to prove you get the vaccine. a word to the wise, their program vaccine is not available anywhere but new york but people all over the country are doing exactly the same thing. a word to the wise, make sure you know the people who are doing it because they are
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getting your personal information. stuart: i have a lot of grandchildren all over the country and that is exactly what they are doing for me. thank you for joining us, see you again soon. quick check of the big board, now we are heading up, a gain of 152 points. we will be back with more after this. ♪♪ staying alive ♪♪ staying alive ♪♪
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stuart: we into the show at 9:00 eastern, ladies and gentlemen. that is when we start this program, the first thing we started talking about was, where's the bounce? where is the buying of the big technology stocks on yesterday's, on this week's dip? well we're seeing some of it. okay, the nasdaq is now up, just, nine, 10 points but we have seen big tech rebound just a little. it is not a full-fledged rebound to where these stocks were say 10 days ago but it's a bounce. apparently there has been some buying of the dip. all right, i do want to remind everybody to send in your "friday feedback." messages, emailers, texters, you can send a video. we really like videos, actually. send it all in, to
12:00 pm it will be just susan and i answering your questions, taking your messages tomorrow. lauren is still on maternity leave having given birth to that baby girl. we'll update for tomorrow at the end of the show. time is up for me, neil, it is yours. neil: stuart, thank you very much. technology stocks, as you said, my friend, holding their own. tesla not joining them now continuing to dip further into bear market territory. we're keeping an eye certainly on tesla and nasdaq as a whole, on technology stocks. we're keeping an eye on oil. i almost did a double-take when i saw it climb over 64 bucks a barrel. this on dwindling supply and increasing demand. we'll get into that. it is pulling on the inflationary fears in the market maybe jerome powell will address. we're seeing a spike in a host


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