tv Varney Company FOX Business May 3, 2021 9:00am-12:00pm EDT
dagen mcdowell? >> i will never eat lobster again. it's over. i'm done. maria: guys, have a great day. we have a rally in the triple digits. we are expecting a pretty good performance on this, the first trading day of may. "varney & co." begins right now. take it away, stu. stuart: big smile, maria and good morning. good morning, everyone. what a pleasure it is to start with plenty of uplifting and positive news. first, the pandemic impact, clearly winding down. did you watch the kentucky derby? 50000 people cheering on bob benefits seventh winner. i was in florida over the weekend and it definitely seemed like a change of mood with over hundred million americans fully vaccinated we seem to be throwing out the restrictions and the anxiety as well,
throwing it off rapidly. this is purely personal but to me liberation from covid 19 seems to have arrived. that's good so is this, monday morning stock market rally with new numbers showing tens of millions of people have come to wall street to invest recently in the last year. they should like this with the dow jones up 160 this monday morning, s&p on the upside and the nasdaq as well. how about bitcoin, moving up again this monday morning, close to $60000 per coin and ethereum, there's a crypto that's really taken off with the latest price quote putting it at $3145 per coin, up huger. in india, 400 new covid cases reported sunday, over a billion people shut down. should america launch a major rescue effort? it is under discussion.
our schools are not fully open and now, we have evidence that the cdc is taking advice from the teachers union. aren't at the school to follow science, not union politics? and we will tell you about warren buffett he does not like quote gambling impulse of today's young investors. monday, may 3, 2021, "varney & co." is about to begin. ♪♪ stuart: if you are just tuning, you miss the actual opening of the show, here's the good news on the morning, this is a monday morning rally, dow jones average of about 170 with gains in the s&p and as well. we have to tell you that
warren buffett's warning about trading platforms like robinhood. he says they encourage a gambling impulse. david nicholas with us this morning. do you think maybe there's an element of gambling in the market today with these very, very high levels? >> in some ways i agree with mr. buffett, i mean, if you look at the robinhood traders specifically, i mean, they tried nine times more equity appeared-- compared to e*trade, 88 times more options contracts of the younger investors certainly more active, but it makes sense when you look at who they are. if you look at robinhood the average age of the investor is 31 years old the average dollar amount under that account about $240, so a lot of the active traders that are closer to gambling really aren't betting their retirement or their net worth. it's really using the money they have in savings, but i cannot blame them. if you look at the easy money policy of the fed over the last 10 years, low interest rate, but
inflated assets like real estate, stocks and the one set of americans who have really been affected by this is young american's with very little money in the stock market over the last 10 years with stagnant wages and haven't owned real estate so this is like the one opportunity to use the free market to their advantage. can't fault them completely. stuart: we have a very, very, very strong economy right now. will the market stay as strong as the economy and if so for how long? >> the economic numbers are amazing, 6% gdp growth, personal income over 21% mean i have not seen numbers like this in my lifetime. normally see the markets and the economy move together, but i see some small signs of weakness. if you saw last week company's smashed earnings and they sold up, many companies sell the news event. we also see volatility make higher lows. we should not see that if markets are heading higher we should see
volatility dropping significantly, and the names moving higher, last week it was defensive names, utilities and the treasury on the dollar moves higher so if you take that together, smart investors may say maybe we should consider having a little on the sideline because there could be great companies available over the coming months and you could get a better discount than today. stuart: we may be in for a pause we will see. thank you for joining us. changing the subject, went to get to covid 19. this is a disaster. india has reported over 300,000 new cases for the 12th straight day and by the way it was over 400,000 cases just yesterday. overall number of infections about 20 million, more than 3600 deaths reported sunday, the highest daily toll since the start of the pandemic. that's a catastrophe. dr. marc siegel joins us this monday morning.
how much should america help any, i mean, we could launch a huge humanitarian effort to really help india. should we do it, can we do it? >> well, stuart, i think we should do something, but let me tell you something, that's not where the real problem lies, it's within india because there's a lot of people in my sources in india call them quacks who are in the rural areas telling people not to take the vaccine, not to worry about covid, not to get healthcare and infrastructure there is a complete mess. when you say the number of cases and deaths, i think it's three to four times what's being reported, probably close to a million deaths in india that have occurred already. it's a huge humanitarian crisis, but i want to point out that the sermon institute of insta-- india which probably makes more vaccines than anyone else is busy exporting vaccines and the astrazeneca vaccine is being exported. i talked to a high-level source at the world health organization who
said they are doing anything over there as usual. stuart: i think they have stopped the exporting vaccines maintained in india. the question remains, should america fly over millions-- tens of millions of vaccine doses because we can do it, should we do that? >> well, i think we first have to get our people here vaccinated for sure, but if there is excess vaccine like the astrazeneca vaccine, i have no problem whatsoever with sending it to india at all. if we have vaccine we won't use it should go there, but at the same time i think we should do a better job closing our borders to india. there are strict advisories in place now and restrictions. i don't think it's enough. i think now is the time to help india, sending supplies and vaccines but travelers from india to here especially with the variance there is very problematic. stuart: next one, want to talk mask wearing and mixed messaging. watch this, doctor and our viewers. role it.
>> we do take extra precautions for him because he is the president of the united states appeared i think the president takes cdc guidelines seriously and he's always taking his role to follow the science seriously as well. stuart: that was talking about the president wearing a mask outdoors. mixed messaging, doctor? >> i think it's the wrong message. not only mixed messaging, i mean, you are saying what connie got vaccine and you're still wearing a mask quacks what about the people on the fence, not worried about it like me and you, people that sam worried about this virus , i was one of the first to take out a camera, but what about people that need a reason to take it and they look to the leader of the free world and he's wearing a mask outside and his own cdc just said it isn't it necessary. he's wearing a mask in congress with other vaccinated people whose own cdc said it's not necessary. the cdc director told me it's liberating to
remove a mask. if you want the people on the fence to take the vaccine, show that the vaccine works. get rid of the mask. stuart: alright, doctor, strong stuff this monday morning and we always appreciated. dr. marc siegel, see you soon. the mayor of washington d.c., muriel bowser said if you are vaccinated you don't have to wear a mask indoors. now she says you do have to wear a mask indoors appeared that's a flip-flop and it came less than 24 hours. then there is colorado, the latest state to loosen restrictions, for those that got the shot groups of 10 or more don't have to wear a mask indoors, but you do have to wear a mask at school, in jail, camps and so on. difficult to follow. according to the biden administration, the surging border crisis is not their fault. roll tape. >> i don't think that's because of the speech joe biden gave, it's
because of the horrible conditions in guatemala, el salvador. we are making progress in resolving this problem. stuart: where's the progress quacks and where's the vice president. we told you about the software company base camp which banned political talk at work. now, we understand one third of their workers have quit. who is really in control of these companies. we will look at that. lets get to the futures, this monday morning, a rally with plenty of her green. more "varney & co." after this. ♪♪ and. ♪♪ ♪♪ (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right?
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stuart: 's geared to address an issue because it might come out the wrong way and if you need woke nests listen to npr. i'm tired of being woke. people want to go about their lives. then went to enjoy their friends. they don't want to be nervous about how we address them or talk to them or anything and that is just where people are. stuart: never thought i would really agree with james carver, but i do now doubling down on workness. he says it's the democratic party's biggest problem. now this, they scam, a small software company trying to deal with workness. they took a stand against politics at work in the ceo said we don't solve society's problems. we don't get behind one
movement or another, no politics at work and after he said that, one third of the workforce took a buyout package or resigned. let's bring in jason chaffetz. how do companies deal with their woke employees who are in revolt of the politics of the corporation? >> that them quit. look, if you work for free then you can exercise your free speech, but if you are going to trade your time and talents to work for the company, then you have to work for the company. here's a ceo saying new artwork i want you to work on work and not be engaged in politics because it does divide people and i think that's a reasonable expectation. at the ceo's right to get rid of those people causing problems. stuart: but, that company will be labeled a racist because they refused to listen to the words of the woke generation. you can do this, you can
let them quit, but you will get some very bad pr, jason. >> well, i think it is the right policy. these employees don't just-- they can't going take the owners money and compensation to move their own personal political agenda forward i mean, that's not the way things were, folks here these people need to grow up and realize they are not in a mama's bedroom there and they are actually working for a company. if they want to do something themselves, go start their own company, but if you work for a base camp or someone else, i love that base camp took this position and i think it's the right position. stuart: the governor of texas, greg abbott, is calling for the resignation of a democrat official who called senator tim scott a black senator republican , he called him an oreo. the democrat party chair deleted the facebook post. i hope scott may show
common sense but it seems clear he's little more than an oreo with no real principles. can you imagine what would've happened, jason, if he had been a republican saying that? >> it's a sick and disgusting and says everything about the democratic party, how they have reacted to senator tim scott. he should not have to put up with that. wears kamala harris, where's joe biden, the leadership in the democratic party that immediately calls that out ? they are silent on this stuff. here's a person who is so successful in senator tim scott, he has risen through the ranks and is one of the most influential members in politics today and all they have, they don't attack him on his policies, they attack him personally and call him racial slurs and it's disgusting. it's racism. that person needs to go. stuart: not much unity, is there we have a poll that shows only 23% of americans inc. the country has become more
unified since president biden took office. it's just not working out quite right, is it? >> i think the big lie of joe biden is that he would reunite the country. he is not even tried to unite the country. he gave it lipservice to it, but can you name anything in his first 101 days that he's actually tried to unite the country ? he tries to blame it on government, i'm uniting the country but i'm not united republicans-- republicans and the congress, no one is buying that. he has lurched further to the left and did what bernie sanders said he would do and be the most progressive leftist person we've had in the position as president peered he's not uniting the country at all. he's not even trying to. stuart: had the lowest approval rating at this stage in his presidency of any president except the last president, president trump and we will leave it there. jason, thank you.
always appreciated. to see you soon. >> thanks, stuart. stuart: this from treasury secretary janet yellen, she's trying to tamp down inflation fears over biden's hugest spending plans that. a good morning, ashley webster. what did janet yellen say? ashley: good morning. well, janet yellen said the massive spending would be spread out evenly. it she says it will be phased in over a decade pick in other words, she believes inflation won't be an issue because of that. but that treasury secretary says the fed will monitor inflation carefully and she says it has the tools to use it if it becomes necessary. let's not forget biden's pandemic stimulus and recovery plans total around the $6 trillion and will be paid for in part by raising taxes on the wealthiest and corporations, but even some democrat lawmakers are now concerned that tax increases will slow economic growth.
you think? stuart? [laughter] stuart: you think, i like that, ashley you had picked up aware-- american way of saying things very well. if you are just joining us we want to share the good news with a lot of greenness monday. berkshire hathaway charlie munger hates bitcoin success. he's calling and i'm quoting disgusting and contrary to the interest of civilization. will, if charlie munger hoped to affect the price he actually sent it up because bitcoin this morning is at $59000 per coin. ♪♪ ♪♪
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anything you can drop on your fight and hurt yourself, so tell us how are you doing with the stocks you said you like so much, u.s. steel, goodyear, how are they doing? >> if you look at what those stocks have done since november 1, before the election and compare them to nvidia, tesla, netflix, those stocks are up about 35%, the high tech, but the movers and makers of the things if you drop them on your foot they will hurt, goodyear, u.s. steel is up 75%. and no one wants to believe that, but that's what's happening. let me own it things that are absolutely indigenous to strong economic that circumstances. to those are working well and i understand those. i can count what they are making when it comes to goodyear tire, roller bearings are important and even electrical vehicles will need them so if you are going to bet on what the electric
automobile and manufactures, that on goodyear tire, they will do well. they are working. people want to own high tech, give me the simple things i can understand. stuart: okay. warren buffett warning about trading platforms like robinhood. he says they encourage the gambling impulse. i think you and i agree on this one. thou. >> i absolutely agree. i think we are making a bad mistake in the u.s. allowing gambling casinos to go and almost everywhere. trading stocks like in a manner i've never seen. we have gambling's going on earlier and you had someone on earlier that the average age is 31 and the average amount of money is $250, but they are gambling, not investing. at they are taking gambling options and i find that disconcerting, too much like what happened in 1928 and 29
when president kennedy's father got out of the stock market because he knew shoeshine people were giving him recommendations on stocks. too much gambling and not enough investment and again that's me wanting to own goodyear tire and u.s. steel opposed to nvidia and high-tech industries a. stuart: you do see a nasty correction coming, you just don't know when. is that accurate? >> there will be a nasty correction coming. at these things never and well when the public is aggressively involved in the market. who knows will it-- when it will happen. the market will return to rationality the moment it's rendered insolvent so who knows when the correction will come. it shall come. it will happen and i'm afraid the high tech stocks will take the biggest it being. stuart: real fast, why are you worried about inflation?
>> because it's happening. a look at grain markets. up 200, three 100%, lumber up from $250 per thousand more feet. look what's happening in crude oil, iron, all going higher, livestock prices have been going higher, steel prices going higher, iron ore prices going higher and anyone thinks that inflation will be transitory is wrong. this will end with inflation that will be a long-standing, not transitory. it's a problem. stuart: we consider ourselves warned, dennis gartman. thank you for joining us on this monday morning when the markets are going up again. >> thanks for having me. always good to see you. stuart: thank you. if you look at that screen right now you will see a lot of green. you will see the dow jones will be up about 200 points when it opens in literally 25 seconds. the nasdaq, not so
strong. the yield on the 10 year treasury is still above 1.6%, when it's about that you tend to see not a downside action and big tech, but a pause in big tech. maybe that's what's happening this morning. they are ringing the bell on this monday, may 3, 1st trading session of this brand-new month and it looks like we are going higher. off we go. we are going up from the opening bell. i have a gain of about 175 points. dow jones back about 34000, almost all of the dow 30 are in the green. i just seen merck on the downside and at the moment that's the only one down. the dow jones up close to 200 points. s&p 500 also sharply higher with a gain of a half a percentage point. a bit better than that, 23 points, 4200 on the s&p. monastic composite, again not such a dramatic gain. we have the nasdaq up, but not that much.
showing big tech, all on the upside, not huge gains, but some recovery after plateauing although amazon moving up more. pretty close to $3500 per share as we speak. some of the bigger movers, moderna, the vaccine company. they will provide 500 million vaccine doses to low and middle income countries through a un vaccine program. of the stock is up 2.7%. healthy gain for moderna. estée lauder, down by sluggish demand for premium makeup products are. i guess we are wearing as much makeup as we used to because a lot of us are working from home. verizon has closed a sale with global management to sell media management yahoo and aol, neither of those two companies did particularly well on the horizon. they sold them up and now they are going to apollo management for about $5 billion the two combined.
dow jones winners, we have dow eat, ibm, disney, caterpillar the best winners of the day especially disney. let me pick on ibm. old tech, i will call them that come up again. about 120 a share a couple months ago and now you have a 143 so progress for ibm. s&p winners, the biggest winners in the 500 index, with a couple of oil companies, energy companies are doing well. nasdaq winners applied materials, csx, paypal ect., not huge gains, but solid. then we have berkshire hathaway charlie munger. he's not a fan of bitcoin. actually, what's his problem? ashley: well, everything apparently appeared here's what he had to say during a q&a session of berkshire hathaway
annual shareholder meeting this weekend. take a listen. >> i don't welcome a currency that is so useful in kidnappers and extortionists and so forth nor do i like shuffling out a few extra billions and billions and billions of dollars to someone who just invented a financial product. development is disgusting and contrary to the interest of civilization. ashley: what do you really think, charlie? look at warren buffet to the left kind of taking a drink and looking up. by the way warren buffett said he did not want to, directly in the digital token and said he did not want to get grief from everyone who is long on bitcoin so he just kind of watched as charlie munger went off. pretty entertaining, actually. stuart: entertaining and you don't hear strong language like that very often. how about tesla? i think the stock is down a bit this morning just over 1%.
and they got fresh scrutiny coming from china, ashley? ashley: yeah, that scrutiny is coming from safety and customer service complaints in china. tesla, by the way, is responding by working more with mainland regulators, which it really hasn't done that much. also, beefing up its government relations team took the change of comes as china is trying to regulate large and powerful private companies. we have seen a and also these companies that have a markets very strong powerful market dominance especially in the tech sector. tesla makes electric model three sedan and model why sport utility vehicles and its own plant in shanghai and tried to remain more autonomous, but as we know the chinese government getting more and more involved. tesla guess you could put it this way is now trying to play the game a little bit more. stuart: and i think this chip shortage is raising its head again. i have got the ceo of
intel saying this chip shortage could last for a couple of years. wait a minute, isn't intel a chipmaker, so why are they doing some thing about this? ashley: they are. they have been caught, they had a tough time as you know, intel, but they are taking steps by spending $10 billion on a new chip plant in europe. also, confirming it will invest another $600 million in israel to expand its research and development there. intel ceo told 60 minutes that as the company expands it will not pay as much attention to buying company shares. take a listen. >> we will not be anywhere near us focused on buybacks going forward as we have in the past and that's been reviewed as part of my coming into the company, agreed upon, board of directors. ashley: intel really is focusing a lot in israel investing
$400 million at its mobile i unit headquartered in jerusalem and another 200 million will be invested in billing and r&d center in the northern port city of hyper the capacity of 6000 employees they are. in years intel has bought israeli tech companies with big investment in that part of the world. stuart: sure is. other stocks moving, first of all let's look at draftkings. gambling folks have been upgraded to outperform. the stock is up 1.3% pure till ray, cannabis producer up after it announced a merger. it is down just a tiny fraction, to sense lower clorox big move. wells fargo says clorox buy back stock dead money at best they also give it a double
downgrade. i guess we just aren't using cleaning products like what we used to during the lockdown with the clorox down%. big board shows again hi up 230 points, 34104. that's a solid gain of stocks in the early going. tenured treasury, the yield-- i'm sorry gold will do that, $1789 per ounce up $21 one and a quarter precent with movement in gold and oil with average price moving up to 290 over the weekend. oil 64, gas by the way-- i do this every day, it's up $1.12 from this day last year. it was cheap last year. did you hear about cancel cultures latest victim? its snow white and here's why. ♪♪
stuart: zero no, there's a problem with that scene. prince charming is kissing the princess without consent and that, folks, is a problem. elsewhere, the governor of oregon katie brown shutting down indoor dining for parts of the state yet again. my next guest runs restaurants in oregon and he says the hits just keep on coming. keys next. he is next. ♪♪ ♪♪ that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange.
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blasio wants 80000 city workers to get back to the office today, but a lot of them want to stay for about. they claim the buildings are not safe to return to the office. that's why sixth avenue looks like it does right now, virtually empty. the food delivery stocks, put them on the screen, please. orders in new york city are falling. wait a minute, ashley, isn't that actually good news? ashley: yes, it is. food delivery orders are following because more people are heading back out to eat. that's good news with even reports of longer wait times at restaurants, very encouraging. footed traffic is now at 34% pre-pandemic activity, so it has a long way to go, but it's heading in the right direction. also, rent is rising as demand picks up with the median asking rent is starting to pick up for apartments in manhattan
even though there are still twice as many apartments available compared to pre-pandemic. also, more than 40% of new yorkers have had at least one vaccine shot. that is good and new york city mayor bill the basile says the city will fully reopen on july 1 so you can fill it in the air. look at the shot down sixth avenue. it's nowhere near where it is on a normal time before covid but is starting to pick up speed to. stuart: it is the feeling. i think it's more of a mood. i think the national mood has changed and it has become much more positive, i think your listen to this, ashley. going the other way. oregon's governor, katie brown, is it shutting down indoor dining for restaurants and bars again pick the order
will affect 15 counties including portland. a portland restaurant owner kurt hoffman joins us now. kurt, with the riots in these new closures, how bad is it for you guys? >> well, we are easily the worst market in the country to operate a restaurant, so there is kind of a triple threat we are dealing with, covid, every city is dealing with that. then we have a huge homeless problem in portland that we have been struggling with for years and then the protests although, day to day you don't really see or hear them. you read about them in the morning and it is one of those head slavers in your like god, why are they attacking the boys and girls club, but when it's done is devastated the image in the reputation of portland and as a result that's the third of our dining population in downtown portland is tourists, so when it kills that it really hurts us. stuart: have you considered i mean seriously considered
leaving? >> now-- no, this is my hometown and i'm committed. in the next as seven projects we are opening are not in portland. they will be in surrounding areas just because they don't have shuttered businesses. they don't have plywood on the windows. they don't have the homeless problem so we will be focusing our growth efforts elsewhere , but this is where i'm from, so i'm loyal to the cause it's just that super frustrating because it's such an awesome town and right now reputation only, it's just embarrassing. stuart: has the city or the feds or the state given you enough money to keep going, those restaurants in portland? >> well, today is the application start time for the restaurant revitalization fund so that's another $28 billion the feds are giving out. the state doesn't really have deep pockets to make an impact.
they have allocated probably 30 or $40 million in total for an industry that's been devastated like ours that's a drop in the bucket, but the combination of ppp, loans and these grant monies, we are surviving , but one of the bigger groups out here and so i really worry about the smaller independent that just don't have the resources to survive. stuart: so, you operate several restaurants. have you had to close any of them permanently? >> yes, two of them we had to, yeah. stuart: will never reopen no matter what, they are done? >> correct. we actually fared better i think than anyone in this town, so the closure rates here are amazing. anyone that has moved away from portland when they look back they just don't understand why the devastation is so poignant here whereas it's really not as bad
in other markets. that's just because again this triple threat we are dealing with, which has to do with a lot of our inability to kind of bring our politics and our aspirations to terms with management issues like homelessness and riots, so we are just as stymied here unable to kind of live up to the moment. stuart: do you think there will be a change in political leadership in oregon portland? >> i can tell you this has moved in the needle more towards kind of conservative inclinations than any time i can remember. people are fed up. people are fed up with these knuckleheads breaking things each night with no justifiable reason. people are fed up with homelessness. i think there's a sentiment that i have not felt my entire life and i've lived here my entire life, just saying enough is enough like we have to clean up the streets.
we have to conduct ourselves with a little bit more dignity day today and so i do believe it will be marginal. this is still portland, oregon, but i think there will be a tiny changes. stuart: well said, kurt hoffman from portland, oregon. we appreciate you being with us. >> thank you. stuart: here's what's coming up on the program today, the white house says it's hard to decide whether schools can reopen this fall, for heaven's sake. roll tape. >> he said probably. did not say absolutely because we have all seen this sense unfortunately change-- since january, 2020. it's an unpredictable virus. we can't look in a cristobal and say what september will look like. stuart: you can't? you can't say in september 18 months after this thing began, nine months after successful vaccination program, you can't say we will get the kids
back to school? that's pathetic. a shortage of truck drivers can have a big impact on gas supply and on your wallet. all the stories coming your way. ♪♪ ♪♪ some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch.
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stuart: you are liking live shot of springfield, illinois, the state capital. now this, the tanker trucks coming on they deliver gas to your favorite gas station, they have staffing issues. a lot of drivers won't go back to work just as we get into the summer driving season. grady trimble is at the highway rest drop-- rest stop in illinois appeared does this mean we eventually pay more the pump? reporter: that's what it's looking like, maybe not immediately, but most likely by summertime you will pay more for gas and it's because they don't have enough drivers for those tank trucks. across the trucking industry there's a shortage of some 50000
drivers and let me show you the numbers per tank trucks that deliver gas to gas stations with about 20 to 25% of their fleet sitting idle because they don't have enough drivers to drive them. our oil and gas expert, you have the wrong way sign over your shoulder and gas prices seem to be going the wrong way. >> they are and it's just getting started. we had this huge surge in demand and people want to go on vacation. vacation areas could be the hardest hit and it's hard to get people to work in a vacation area when they get paid staying home and that's a big part of the problem four we see that in a lot of industries and in this industry when you drive a tanker truck it takes at least six months to get a license, so it's not a problem that can be solved easily. >> it's not and it's the certification process with a lot of pressure on drivers as they have a lot of responsibility and they are saying i can drive another truck for similar money or slightly less money and not have all the
headache and that responsibility on my back. reporter: phil is telling me by summing-- summertime you may pay $3.50 as the national average, so don't say we didn't warn you. stuart: okay, we have been warned. thank you. looking at the markets, look at that the dow industrials is up 325 points. 34200 with a solid gain for the dow jones, s&p in the grain, two thirds of 1% higher and nasdaq composite not quite so well, still up about a quarter of a percent. still ahead, stephen moore, kt mcfarland, lawrence jones and aj bontempo. we have seen mixed messaging i'm getting back to normal from the biden administration and in my opinion that pandemic in america is almost over.
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not too bad for the nasdaq either the yield on the 10-year treasury is beginning to come back down a bit. we opened at 164. now you're 161, that is where we are with long-term rates. cryptos, look at this, ethereum at an all-time high, $3115 per coin. we think that's an all-time high. it is certainly very close. and bitcoin that is close back to $60,000 a coin. 57,900 is where it is right now. this is a rocket ship economy and we've got new data on it. starting with manufacture manufacturing. ashley, what do we have? ashley: i wish i could add to the rocket sentiment. came in at 60.7% on the ism manufacturing. the estimate was more 65. so anything above 50 is expansion. so 60.7 is certainly expanding but perhaps not at the level we
hoped for. stuart: construction spending. i know you have the numbers. we don't have that big of an impact on the market. ashley: they don't. we were hoping something around 2%. we got 0.2%. certainly weaker-than-expected. it was 0.8% in february because of winter weather. in march i'm not sure what the excuse is. both of those numbers tempering a little bit the rocket analysis, stu, but still heading in the right direction, i will put it that way. stuart: not terribly strong numbers. that may have had a little impact on the market. we were up over 300 at 10:00. now we're up 264. thanks, ash. now this. we've arrived at the point where you can legitimately say the pandemic in america is almost over. you can't say it is completely over when people are still dying, and there are thousands of new cases every day, got
that, yes, there will always be some anxiety that a variant may emerge that resists vaccines but this past weekend marked a sea change a big shift in the way america looks and feels. i was in florida taking full advantage of a republican-run state. the beaches, the shopping malls, restaurants, absolutely packed. i watched the derby in a sports bar. everyone commenting on the big unmasked crowd at churchhill downs. it was so good to see that. it wasn't a back to normal feeling because, we're not really sure what the new normal is anymore. instead, it was a feeling of liberation. with 100 million americans fully vaccinated and with restrictions rapidly being peeled back, we seem to be enjoying our freedom. the president wants us to wear masks outdoors but i didn't see much of that. the president delivered speech to a spaced out masked congress which was itself blockaded with
fences and the national guard. they really should get out more, preferably to booming republican states. my point is, to me, an immigrant, america is an optimistic place. i always felt americans looked forward in a positive way and with the pandemic that's where we are. it is a wonderful thing to see, and be a part of. liberty, the freedom to live our lives again. we're almost out of this thing. second hour of "varney & company" about to begin. ♪. stuart: president biden's top economic advisor pushing for a global corporate tax minimum. stephen moore is here fortunately. stephen, first spell it out, a global corporate tax minimum. what does that mean for american business? >> stuart i have to say
something about your "my take," i think you just nailed it my friend. we are now 99% of the way back. so we are still $200 billion below where we were on gdp at the start right before the pandemic. so what that is saying stuart, 99% back to where we were started, which is spectacular, much faster rebound than in europe. europe is still really struggling. some of the asian countries as well. one other quick thing, stuart, this vaccine, i was just reading "the wall street journal" a "new york times" article from this time last year. they said it would take two years, stuart before we got a vaccine. two years. we got it in nine months. so there is a lot of good news here. now the bad news this global minimum tax. i hate the idea. i like the idea of countries competing on the basis of taxes. that limits government. it disciplines politicians.
so what we've got the biden administration going around the world telling these countries to raise their taxes. i hate that idea. why would ireland go for that? ireland has the lowest corporate tax rate in the world. you get a lot of capital flowing into the ireland. that is part of their economic recovery, a really bad idea. america should promote lower taxes, not higher taxes. stuart: i want to talk to you about corporations trying to deal with their voc woke employees who may try to impose the view of the world. base camp, a software company, 1/3 of workers left, took buyout packages, after the ceo said look, no politics at work. this is a huge challenge, stephen. how do corporations deal with their own employees who want to criticize from within? >> it's a huge challenge. now companies are being hit from
both sides, stuart. on the one hand, you've got, many of these liberal, liberal generation, that basically say we want politics in the office. we care about climate change and racial, social justice issues as they define them. and then on the other hand, you've got a lot of conservative consumers who are saying, wait a minute, we'll not buy products from companies forcing values that we don't necessarily agree with. look what happened with the oscars, with the record low amount of people watching that because people are tired of the political correctness in the business place. look what happened with major league baseball, the fact a lot of people tuned out of that because of the whole controversy with the voting rights issue. i'm for keeping politics out of business. i don't think it is the right place. businesses are in business to make money and to make profit
and to hire people, not to be involved in political issues. stuart: that is all i want, a good product, at a good price and a company gain mag, market share and distributing profits to shareholder. is there something wrong with that? no. stephen, appreciate it. see you again, h. stuart: a rally still on wall street. what happens if we get a capital gains, a big capital-gains tax increase? what happens to the market? >> you know it is interesting, stuart, we've had all this dessert. we had our fair share. now time for the broccoli. the markets are focusing not so of how great earnings are, focusing what happens with capital gains. the truth of the matter they
probably land much lower than the first salvo here and the bigger issue here, who really owns stocks? 75% of stocks are owned by foreigners, by endowments, pensions. so it is only 25% that is in the hands of individual taxpayers. so listen, it is not good for you, not good for me but i'm not so sure that is what ultimately jars this market. probably interest rates and inflation. stuart: could this jar the market? warren buffett, warning that robinhood encourages a gambling impulse? that could really upset the market, if you got all the retail investors piling into the market and they basically are gambling? that is a problem, isn't it? >> it sure is but look, buffett's comments were so misconstrued over the weekend. he is a long-term value creator and he was just trying to pontificate to younger, new investors to delineate between speculation and investing but this is history repeating
itself. you're not the only stuart from back in the 90s. remember stuart from the ameritrade commericals? this is history repeating itself. young people are learning expensive lessons. by the way i was one of those young people. those were expensive lessons i cherish, because it made me the advisor and investor i am today. there is silver lining of the great cloud of people speculating on stocks online. stuart: democratization of investing. more and more people with a piece of the action. i don't see anything wrong with that at all, except it worries me when they treat stocks like gambling chips. last word to you, jason? >> i would completely agree. look, people are thinking first and acting second. it is terrific information is commoditized. great you can act on it for free. this is not a game. this retirement. this is your vacation. this is your education for your
family. so don't treat it as such. stuart: well-said, jason katz, always a pleasure. thanks for joining us. we'll see you soon. then there is this, democrat strategist james carville doubling down, yeah, wokeness is the democrats' biggest problem. >> in politics you should speak the language of the people. you should speak clear direct english and address people as they address each other. people want to live like there scared to address an issue because it might come out the wrong way. stuart: the backlash against the woke mob is supposed to be picking up steam. let's see if there is any real evidence of that. we'll cover the story for you. warmer weather, restaurant reopenings, good for business. one brooklyn restaurant ture says he can't find the staff to work. we've heard that story before. no doubt hear that again. >> the man in charge of the
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first time we've seen that since october. we're getting through this thing. the texas rio grande valley, just a small section of texas that is seeing more than 1000 migrant crossers each and every day. that is where fox's almost la jeunesse is right now. william, the border patrol took you on a nighttime ride-around, what did you see? reporter: i will tell you this, stuart, anyone who tells you the border is under control is either lying or they don't live here. we're in rome, texas this is popular smuggling point. one reason why, that is the port of entry. people wait a long time. smugglers say i get you over real quick. take a ralph from right here, paddle over, drop them on this side, to the raft back. there is, island over here, quickly get to the united states in about 50 to 100 feet. so since about 4:00 in the morning, we've been with these
guys. they have made apprehensions almost non-stop. four bus loads women and children taken in the early hours. those families with children under age seven will be processed released here in the u.s. if you're over age 7, largely they are deported. some game the system. arrive as family, get deported and child comes back as unaccompanied minor. parents enter illegally over the river. other times they come over as a 12-year-old, then come back claiming to be age seven. >> what needs to be done, they need to start addressing the issue of actual why people are coming, stop people from coming as opposed to addressing the results of the issue, maybe my, my definition of control is completely different from the president's but i see it completely different. reporter: today the rio grande valley agents apprehend 2200
migrants a day. some want to get caught, others don't. agents found these men and women hiding in a building in down to roma. mile away, a group under heavy brush. with no detention or prosecution, most try again the next day. biden is using title 42 to expel migrants to squalid conditions in tent cities. over the river from me, human rights is say making them sitting ducks for organized crime. >> this is launching much port. cartels will not tell you where the drugs going, human trafficking is going. it is going all over the country. we know the kids and families are being sent everywhere. they may be sent with covid or some other transmittible disease. every state will have to start dealing with these problems. reporter: bottom line is, stuart, that the pipeline of immigrants coming up from central america, that is full. you have the young mexican males
mostly men, coming over from the u.s. booming economy. so the border patrol is very business is. back to you. stuart: william la jeunesse in texas, thank you, william. bring in general mike maguire. he has been in charge of the national guard at the arizona border for the last 10 years and he joins us now. you retired literally a week or two ago. obvious question, general, is this -- whose fault is this, trump, biden, who? >> well, good morning, stuart. thanks for having me. i would say assigning blame is a different problem than what we have right now. we have a major flood, a human flood coming in through the southwest border and no one is addressing the leak and the biden administration as bush, obama, and trump did, need to immediately authorize the national guard to go to the border to support customs and border protection, i.c.e. and
immigration services as we have in the last three administrations. then additionally, build the wall, and complete the section of the wall that is not secure in southwest arizona. stuart: well that is not going to happen. look, forgive me for saying it so dramatically, there is no way this administration will finish the wall. they are not going to do that, if they don't do that, what happens? william la jeunesse told us they're catching 2200 illegals a day. how many are actually getting through with dough don't know about? >> you asked what happens if we don't secure the border. what if we have an open border? we will have less safe and secure communities. border security is human security. in southern arizona, community of gila bend, has population of 1000, 1500 local residents, just three weeks ago when i retired,
border patrol was dropping off 50 family units were cleared from the detention center a day. imagine absorbing a community of 1500 people, 50 people per day. your resources are overwhelmed immediately. as state emergency manager, we're the ones that try to help them out. the answer to your question, the fentanyl, human trafficking, weapons, all the problems it creates in our communities will immediately go over the country. arizona is the funneling point. it is not the end point. stuart: general, thank you very much for joining us today. sorry to start your retirement with an appearance with us but we do appreciate you being here. jenna geyer. thank you, sir. -->> thank you, stuart. stuart: market is looking good. dow up 260. nasdaq up 62. look at some of the movers on market this morning. estee lauder are on the
downside. people wearing less makeup when they work from home. we should have known that. they're down you now. 6% down down this is 5 billion-dollar deal. we didn't see much action from yahoo!, aol, they didn't perform that well under verizon. how will they do under apollo? we don't know but the transfer has been made. show me apple a top analyst revealed when we could see the foldable phone. what have you got on this, ash? ashley: that analysts believes the company will likely launch a foldable phone in 2023 not far from now. analyst at tfi security, based on an industry survey he believes the foldable iphone will reach 15 to 20 million units in 2023. he says that the new model could have an 8-inch foldable oled
display and would work basically as an iphone, could open to a tablet with a screen slightly larger on a display you find on the ipad machine any. analysts say after 5g, a foldable model is now a must-have for major smartphone brands. we see others try it, fail, have many glitches. it looks like its is the future, stu. stuart: a pity susan is not with us. we could find out if the foldable iphone a must have for susan li. ashley: guaranteed. stuart: intel, the ceo is predicting a long time that this global chip shortage, how long is he plea dicking the shortage could last? ashley: could go on another two years. this industry was caught with its pants down with everything shutting down because of covid. particularly the auto industry.
so many things have chips. so many products do. intel says it will spend $10 billion on a new chip plant in europe. investing $600 million in israel to expand research and development. israel very much in the cross-hairs of intel. the ceo told "60 minutes" told that the company as it expands will not pay as much attention to buying company shares. take a listen. >> we will not be anywhere near as focused on buybacks going forward as we have in the past. that's been reviewed as part of my coming into the company. agreed upon with the board of directors. ashley: so doubt, hold on the share buybacks. intel by the way investing 400 million at its mobileye unit headquartered in jerusalem. another 200 million invested in r&d in a building in the northern port city of haifa, win
has the a capacity of 6,000 employees. there are big investments recent years. intel has bought three israeli tech companies. so that part of the world important to intel. stuart: but they're not buying back their own stock. google is buying back $50 billion worth. i think amazon's buying back $90 billion worth. ashley: right. stuart: huge numbers there, not for intel. it is down 57 bucks a share. ash, thank you. it is the biggest auction in card collectible history. this card, yes, that is honus wagner, could go for many millions of dollars. we're going to tell you all about the auction too. india's covid crisis worsening by the day. kt mcfarland says helping india is not just the right thing to do, it is the right strategic move as well. she is here to break it down for us after this. ♪.
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plenty of green this morning. then there is this, the covid crisis india shows no sign of slowing down, far from it. cases nearing the 20 million mark. kt mcfarland joins us now. there is a moral question here, how much should we, wealthy americans, plenty of vaccines, how much should we help india? okay. sorry, folks we have a problem right there. we can't, i don't know whether kt can hear me. i can't hear her. the picture is breaking up a little. producers how are we doing, any news? okay. not yet. i will move on, we'll try to get back to kt in just a second. the administration is denying claims of a hostage deal with iran. iranian state media reports there has been an agreement. there is disagreement there.
fox's rich edson has this story. rich is there a connection of any kind between a hostage deal and maybe a nuclear deal? any connection? reporter: there appears to be, stuart. this is the first time iranians and american diplomats are engaging in discussions here. they're not talking to one another directly. it is the united states and diplomats, they're negotiating with a team of europeans. then the iranians are doing the same thing in vienna in separate rooms, with the idea of trying to resurrect this 2015 nuclear agreement. there have been three rounds of discussions thus far. they're in vienna trying to put this thing together. now iranian state television is saying as part of all these discussions there is an agreement for a prisoner swap, billions of dollars in unfrozen iranian assets. to that statement, state department spokesperson ned price says reports that a prisoner swap deal are not true.
we always raise case of americans detained or missing in iran. we will not stop until we're able to reunite them with their families. administration officials say they're still trying to put the nuclear deal back together. >> there is still fair distance to travel to close the remaining gaps and those gaps are over what sanctions the united states and other countries will roll back. they are over what nuclear restrictions iran will accept on its program to insure that they can never get a nuclear weapon and our diplomats will keep working at that over the coming weeks. reporter: iranian officials say they expect the u.s. will lift sanctions on iranian oil, banks, individuals. american critics of these discussions say the administration is trying to restore an agreement that will ultimately expire and provide the iranian regime with billions of dollars to fund its ballistic missiles and militias across the middle east. the biden administration framed all of this we'll first
negotiate to get a nuclear deal, put that back together, use it to negotiate a larger deal that addresses those other issues of iranian behavior. thus far the iranians have said publicly no thanks on that broader deal. stuart? stuart: we hear you, lad. thanks very much indeed. back to the market real fast because we're back to a 300 point gain for the dow jones industrial average. couple of reports at the top of the 10:00 hour, not wildly positive about the state of the economy going forward. positive but not wildly so. the markets took a minor leagues hit on that but they're back. the dow is up 300. s&p is up 25. nasdaq is up 58 points. do we have kt mcfarland? do we have her? yes, we do. there she is. i will go right back to the original question, kt. there is a terrible covid crisis in india, absolutely awful. we've all seen videos. should america help big time? what do you say? >> big time.
we should have done it right from the beginning. trump had a very good relationship with the indian prime minister. when the biden administration came in, zeal to undo everything trump had done they didn't nurture the relationship. under covid, the biden administration gave them the cold shoulder when india was hurting. couple days ago they reversed it. india needs massive help. they need vent regulators. we have tons of ventilators. they need testing equipment, ppp. we have all of that stuff. we should immediately help india. the biggest problem they have of all is the distribution problem. we're really good at distributing things. i think we could really help india. it would not only be the strategic thing to do, it is the humanitarian thing to do. we have to get this relationship right. stuart: got it. i'm sorry so short, kt but you got your message across and it
is an important one. we appreciate you being here. thank you, kt mcfarland. >> thank you. stuart: we will give you much longer when we don't have an audio problem, guaranteed. the woke mob has a new target, snow white. that is unbelievable but true. we'll tell you the story. police departments across the country facing staff shortages because of the anti-police sentiment. jeff flock will have a report on that from philadelphia. we'll be back. ♪ you've got the looks ♪ ♪ let's make lots of money ♪
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philadelphia. come on in, jeff. what's the city going to go do about this? reporter: i'm going to put that question live here to the president of the philadelphia fraternal order of police and it is not just, philadelphia, stuart, perhaps you know, put up the numbers, you see all across the country there is this problem with either keeping officers or finding new ones. in new york, for example, retirements are up 72% in the last year. in minneapolis, a fifth of the force either quit or gone on leave. chicago, 560 retirements up 45% in the last two years. seattle has a full-fledged staffing crisis. you say it's a perfect storm. >> it is. a recipe for disaster, we have in philadelphia, we're 3 or 400 officers down on the street right now. that directly affects the community. in turn we can't get people to come in. people don't want to be police officers in the current climate. the pandemic should everything down for about a year. now that we're slowly getting
started getting some recruits in, taking one or two out of every 10 applicants because of a rigorous background. once they're in, takes 10 months to go through the academy. we're not looking for boots on the ground for 10 months. reporter: how do you bring people in, make them want to be police officers in this environment? >> the climate has changed. it is not a popular job. people still want to do it. what happened in council they put a bill in you have to live in the city first to be able to be a police officer. people are not going to move to philadelphia hoping to get a job. they will come knowing they have a secured position. that is tough too. we're climbing uphill battle here. reporter: impact, crime statistics we looked, new york, philadelphia, chicago, l.a., homicides up in some of the cities by a third. stuart: shootings up 70%. >> that is direct result people blame the pandemic. i don't buy it. directly related to our district attorney, nobody goes to jail
policy. no fear of repercussions on the street. reporter: this is happening in other cities. >> happening more prevalent here. averaging six shootings a day in january. almost 500 murders last year. kids being shot at a record rate. it is unbelievable. one homicide too many, kids being shot. they can't go outside. we don't have enough police either. reporter: talk about defunding the police, obviously there are bad cops and bad tv reporters and bad tv anchors. everything has bad apples. are we doing enough to eliminate those folks? >> yeah. i think we've scaled back. we don't, we never been one to go out and represent officers that are d things. so we step back on that. and, there, like you said the statistics or not, from any other occupation, that different but again we don't have a big cry here for defund the police. people know they need the police here in philadelphia. they want more police if anything else. we need to get that. we need to get that message across, to our mayor, to our
city council we need more police. i believe the mayor is on board with it, council, another issue. reporter: john, president of the fraternal order of police in philadelphia. you have a reputation working both sides, trying to get the bad guys out, tying to get good guys in. right now you're fighting a tough battle. >> that is what they elect us to go out represent the cops. we'll not have footprints on their back. on the other end you have to work with people in order to get things done, right now i think we're doing that except with the district attorney in philadelphia. we need to get rid of him. it is what it is. he is a cancer to the city. he is hurting the city. people won't move here unless they feel safe. reporter: true after lot of places. thank you for your time. you're fraternal order of police, stuart in philadelphia, flashpoint. stuart: well he certainly told it how he saw it and that's fact. jeff flock, good stuff indeed. thanks for joining us. see you again later. now do you remember i think we told i think it was last week
about democrat james carville slamming wokeness. he got some backlash from fellow democrats saying that, but now he is doubling down. ashley what is he saying now. ashley: mr. carville never backed off anything really. the legendary democrat strategist thinks democrats allegiance to all things woke is going to hurt the party at the ballot box. instead he said they should speak the language of the people, take a listen. >> in politics you should speak the language of the people. you should speak clear, direct english and address people at each other. i don't have to talk. after the 2020 congressional elections there was huge eruption in the democratic caucus people correctly pointed out the whole defund police stuff cost us congressional seats. people don't want to live like this, scared to address an issue because it might come out the wrong way.
ashley: you know what? i think he is absolutely right. carville said even the woke are tired of being woke. you know, stu, i for one am tired of hearing the word woke and everything it stands for. let's leave it right there. stuart: i remember when i first heard it, i was from jason whitlock about three years ago. i have not forgotten. and now you hear it all the time. i've had enough. i'm with you, ashley on this one. ashley: yeah. stuart: wait, this is for you, ashley. you know what is coming. ashley: yes. stuart: the latest cancel culture victim is snow white. you have to do this. my head would explode if i did this one. go. ashley: well, mine is a about to explode. the cancel culture has no limit. the latest target as you just said, stu, is snow white. disneyland's snow whiten chanted wish ride at disneyland finishes when the prince finds snow white asleep under the evil queen's spell and gives her true love's kiss to release her from that spell. here is how the cancel culture,
kind of views that particular scene. quote, a kiss he gives to her without a consent while she is asleep which cannot possibly be true love if only one person knows it is happening. now the media site, the san francisco gates, goes on to say, quote, haven't we already agreed consent in early disney movies, that is a major issue, right? teaching kids that kissing when it hasn't been established. if both parties are willing to engage, it is not okay? you know, words fail me. i could use all sorts of sarcasms, u, oh, my god. get a life. get a grip. stuart: yes. you're not done, ash. here is this one for you. take a look at it. this is more, this is more of your right street, okay? that there is the world's longest pedestrian bridge, just opened. you're going to tell our great audience how long it is where it is. ashley: well you know, firstly
you can count my out. i hate heights. i get lightheaded putting my socks on. this is the aruca bridge. it is a narrow footbridge suspended off a river in northern portugal. claimed be to be the world's longest pedestrian bridge. 1700-foot long, hangs, 574 feet above the canyon. it was officially inaugurated this weekend. it cost 2.8 million to build. by the way children under age 6 not allowed on it which is probably a good idea. you have to go on it to be accompanied by guides. no thank you very much. i will just watch other people do that. look at that. stuart: ashley, when you were, when you were a kid in england did you ever go with a group of other kids across the suspension bridge and you all marched in step and the bridge starts to sway? do you remember that? ashley: horrible. i do. i still have nightmares.
yep. stuart: just thought i would ask. thank you, ashley. ashley: thank you very much. stuart: now this is, really serious now. we've got new emails. it show that the teachers union influenced the cdc on reopening schools. isn't the cdc supposed to be advising the unions, not the other way around? we've got that story for you. it's a good one too. new york city restaurants moving to near full capacity but our next guest says his biggest problem is finding people to work. the brooklyn restaurateur joins us after this. ♪.
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stuart: really true to say that new york city is beginning to open up but restaurants, bars, they are really struggling to get the staff back. i want to bring in the owner of ainsley, that is a wine and beer garden in brooklyn. aj is with us. what proportion of your staff will not come back to work? >> well, with the unemployment benefits being extended it is
difficult to get people back. i would say i probably have about 50 or 60 jobs to offer that i cannot fill right now. stuart: 50 or 60? >> 50 or 60 across my furlough furlough -- 4 locations. stuart: i'm sorry, we have a delay. you're back in business, you're open again. how has it affected you? can you handle the demand for food and drink in your restaurants without the staff? >> we are dealing the best we can. it is definitely, i call it the anti-stimulus package with our government encouraging people to stay home instead of working when we actually have jobs to offer and we can't fill them. so it has been a negative impact but we're looking forward to really busy summer. energy is up. our bars, our bar is opening today. first two customers behind me. everybody is pretty excited to
get back to, get back in i hope. hopefully people start realizing they have to get off unemployment one of these days. stuart: we're with all the way but i have to bring this to your attention. on fox news this morning a restaurateur said they're getting no guidance from the cdc. they're getting no guidance from the local government and this restaurateur he was worried about health inspectors doing gotcha inspections, looking at you, looking at everything, nitpicking. are you getting the same thing in new york city? >> we but we are doing the right thing. we're just trying to socially distance. we're adding partitions where we can, dividers and we're just, we're trying to, you know, tow the line, make sure we're doing the right thing, at the same time giving the best experience we can to our customers and our staff, to keep everybody safe. we are safe. the numbers, the spike in the numbers aren't coming from restaurants to begin with.
so for restaurant industry to be penalized over this it's, it doesn't sit right. stuart: aj, we just want to thank you very much for coming own the show. we wish you the absolute best of luck. sorry to hear you have got a staffing problem but you know, the energy is up there. we're with you. aj, see you again real soon. >> all right. stuart: goat a big hour coming up for you. lawrence jones, todd piro, naomi schaefer riley and a whole lot more. my opinion, i say the administration totally sold out to the teachers union and that is not good for any of us. that is coming up in "my take" next. ♪. so you're a small business, or a big one.
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>> covid everybody is doing with that, every city and then we have a really homeless problem and we've been struggling with it for years and the protest altogether with the reputation of portland. >> trading stocks unlike anything i've seen in my 45 years of being in the business but their gambling, they're not investing.
>> 6% gdp, personal saving, and come up over 21% we normally see the market and the economy move together but i'm seen some small signs of weakness. >> we are 99% on our way back much faster rebound in europe. ♪ ♪. stuart: 11:00 o'clock eastern time on this monday may the third, good stuff indeed, check the markets, the nasdaq has turned lower, that is the headline at the moment was higher now with lower but they're down holding onto the solid gain of 280 points, look at this the ten year treasury yield it is moved down to 1.60% but the downside move in the yield did not help big tech, that's a reversal from what we've seen recently. now this.
this administration has sold out to the teachers union despite promises, the schools are not fully open, instead we have on and off remote learning, limited in person teaching, frequent interruption for quarantine, we even have zoom in a room, that is the children in the classroom and the teacher is at home on zoom, the new york post reveals messages between the teachers union and the cdc showing decision on school opening were based on union politics and not cdc science, can you imagine, professionals, that is the teachers hurting the very people that they are supposed to serve, the children. the democrats have betrayed their base, the minority students who have been set back the most and how many women cannot go back to work because they have to deal with ever-changing school schedules. how about the next academic year, starting this fall
theoretically, advisor to the president on education said the virus is unpredictable, so we cannot be sure what september looks like, are you kidding, 18 months after lockdowns, nine months after vaccinations began, our kids can all go back to school, this is an example of fine teachers of whom there are very many being represented by hard left union, covid-19 has had a terrible impact on her children, in the post-covid world that union should be held accountable for what it's done, the third hour of "varney & company" is about to begin. ♪. stuart: i want to give lawrence judd an opportunity to chime in on what i just said, i know lawrence feels very strongly
about education, i know the education made lawrence jones what he is today. have at it, i'm saying the unions have betrayed the students are supposed to teach, i'm calling on strong, what do you say. >> that was a brilliant monologue, i couldn't of said it better myself, let me tell you something, this is the moment in american history that us as educational advocates that want school choice have been waiting for because the teachers union finally overplayed their hand, the argument that they made for decades, they do what's in the best interest of her children we made that to be not true based on the numbers, the science says that kids should be back in schools right now, all of these guidances that were seeing coming now are all irrelevant, it's not about if it's going to
be in the fall, it should be right now, the cdc has changed their position based on what the teachers unions are telling them to do, young jen psaki from the press briefing room saying the cdc said to open up the school but she didn't say that from her official capacity, the cdc logo is right behind her that this shows you where their hearts are, the heart of where the money is and because the teachers union made it very clear, if you don't support what we say them were not going to back you, there has been so much talk about the power of the nra and gun lobby, they don't have a portion of the power that the teachers union has. meanwhile, i can't suffer, we are getting our [bleep] handed to us on the world stage, our kids a bit behind compared to china and other countries and now when we need the most, they decided not to sure what their kids in harlem, having to travel to other cities to go to a charter school to get a quality education because the teachers union said they could go back to school, forget the vaccine and all the other stuff that they
say, it's a nice gesture to give it to them but what we seen even when you give them the vaccine and change a ventilation system, they still don't want to return back to the school, they want to reimagine education, how about getting it right. stuart: my problem i don't see any progress in the combating localism, for example there is a software company called base camp, the ceo said no politics at work, one third of the workers quit, they took early-retirement, a severance package, they left and quit. how do you run a company and run any institution if you being attacked from within and if you don't go along and run the politics their way, they leave, this is a huge problem for the whole society and were not making any progress. >> let them go, people are sick of this, if they wanted get in
the business of politics, become a broadcaster for a living, start a podcast, blog but you've got to serve your audience first and that means the people that trust to serve with these companies, the fact that politics is consuming every part of life is pretty concerning, we know where we're living i go to brunch on the weekend and talk with my friends and they bring their friends and they want to talk politics, it is nonsense, talk about loving one another and making society better instead it is destroying families and friendships and half of the time they don't know what the hell they're talking about, let's get to the nuts and bolts of things to talk about how combing make this country better, i hate to say this, part of the reason why america subdivided today is because of the media, they want to set each other's throats, there is so much that we agree on that we want to make life better for one another but they want us to fight and hate one another.
stuart: i been saying for years that lawrence jones is a rising star, now you know why, lawrence you're all right, we'll see you again real soon, he's really a good man, thank you or. check the markets, plenty of green, 270 and look who's here in the 11:00 o'clock our second appearance in this hour, he's been with us for years, mike murphy, you say people are making a mistake in trying to chase down the next big thing, wait a minute, look at this you been doing that your whole investment life haven't you? >> good morning, yes i have but what i mean by that, i think a lot of the new participants in the market, the younger generation are looking for the next gamestop or electric vehicle or the next bitcoin investment where you can make 100 times your money in a week,
it doesn't work that way. some people have made a lot of money doing that but for the most part i would love to see everyone but especially the new participants in the market to focus on what the market has done over the last 100 years that's go up in a steady basis, to focus on the companies that are innovating but the large-cap companies, as a point, if you own tesla from when it went into the s&p 500, you're doing pretty well in your investment, i think of people focus longer term, not worry about day-to-day trading and not worry about bitcoin today versus next week, i think i'll be much better off and will create wealth for themselves. stuart: really fast, what do you see the next big industry, not the next big company or technology but the next big industry, can you tell us what you might think it is.
>> real fast, the pandemic pulled forward a lot of technology, i think telemedicine is going to change a lot of our lives in the way we visit the doctors in the way we monitor our vital signs, it will increase our lifespan and it will help us live healthier lives, telemedicine is in the early stages that has a long way to go. stuart: come back soon, tell us which companies and telemedicine you are invested in, mike murphy, thank you a lot, see you can soon. a real standout stock of the day, that is the gap up 8% of 52 week high, i'll give you the reason for that a little later when i find out what the reason is, gap is up 8%, home depot, that is up to and a quarter percent and home depot is a dow
stock, that gain adds 46 points to the dow industrial which is a 300, facebook began president trump after the january the sixth right at the capital, their oversight board could reinstate his account, ashley, when might that happen. ashley: how about this wednesday morning around 915, that would be may 5, it goes back to last january and facebook band donald trump from facebook posting an instagram, the oversight board is supposed to be an independent panel that takes in all the facts and give the decision, mark zuckerberg causes the supreme court for tech companies, were wait-and-see in a be interesting, moderating the decision of social media companies comes down to the panel, should they overturn this, of course they should but facebook says this is a political leader and we want to have guidance on how we handle people with so much influence in
what they post on facebook, and instagram in this case. but what about first amendment. >> exactly why not pay attention to free speech, there you go. we do have the annual airline quality ranking that is just been released, will tell you who took the top spot in one moment in the woke crowd, they're taking aim at snow white, they're trying to cancel her new disney ride over this classic scene, kissing without consent. e-mail should the new york city teachers union influences cdc about school reopening, will anyone hold that union accountable, will deal with it next. ♪
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>> we have all seen this since unfortunately january 2020, this is unpredictable. it mutates, we can't look at a crystal bar and see what september looks like. stuart: what you can't tell what september is going to look like, good lord, that was a clarification and follows president biden saying all schools should probably be open at the start of the next academic year. however, we have new e-mails revealing the powerful new york city teachers union influences cdc on school reopening. that lady right there is naomi schaefer on how education expert. his best to be the other way
around the union is supposed to give advice on science from the cdc, not give advice on politics from the cdc, when is anybody going to hold this union accountable. >> these e-mails were incredible, we all knew this was going on and the unions were influencing the decisions that were supposed to be made by science, and these e-mails revealed that the cdc thought of the teachers union as their thought partner which is amazing, you two for $20 million can contribute to the election cycle 2020 and can be the cdc's thought partner, this is outrageous the way the political lobbying group is influencing the federal decisions that affect parents everywhere. stuart: how do we hold them accountable. >> parents need to rise up, i do think sensible parents across this country who thought they understood how the public school system worked have really had their eyes open this year, they need to be ready for school
board now, they need to be objecting to the way the unions influence a contract at a local level, state level, it is really time for a parent revolution. stuart: if you have the money and you take your kids out you have a private arrangement for your kids, that the expression of privilege, if you don't have the money, your kids have to stay in awful bureaucracy that we call public education, that makes the existing inequality problem even worse, is that what's going to happen. >> absolutely right, if you have the memes you will take your kids out any fact you probably already took them out you move them to a private school and magically as we know the private schools had an ability to make
kids safe from covid, just by the fact that they were private schools, they stayed open all year, those kids got an education in person and those parents did not have a resource were stuck. stuart: i want to talk to you about adoption, this is close to home for me, i'm excited to show you my family who would be adopted, you wrote the op-ed woke mrs. comfort adoption, the children who will suffer, spell out your case please. >> a group called bethany christian services is the largest adoption agency came out a couple of weeks ago as a report saying they wanted us to revisit a law called the multiethnic placement act which forbids agencies from discriminating on the basis of race when placing kids and foster or adoptive homes, the point of this law is to ensure that minority kids everywhere who were in the foster care system had the ability to find a home, permanent loving safe home.
now the antiracism agenda and brokenness agenda, they think it is more important for a kid to have a skin color that matches the adult humor going to care for them rather than they find a placement quickly and in a good placement, the idea that skin color should now be considered as part of the child's best interest. stuart: who said this and what influence do they really have over adoption policy? >> bethany christian services is one of the largest adoption agencies in the country, if they are going to now start rethinking how the placing kids, that is going to be huge influence but there's also lawmakers all over the country who think that this law is causing racial disparity in her foster care system and they want to get rid of as a result, in fact this law was probably responsible for helping tens of thousands of black children stop
languishing in the foster care system and find loving homes. but because there are disparities in the foster care system, they of course is because of racism and as a result they will undo the law which is an enormous amount of good. stuart: naomi, thank you for joining us, please come back soon, you speak a lot of sense, we appreciate that. were gonna check the cruise lines, we have the cruise lines mostly higher today and on the right-hand side of your screen, that is crowds cheering for carnival cruise ships, you can bring out a crowd with a carnival cruise ships first returned to ports in texas and over a year, look at that crowds cheering them on, still on travel, this year's airline quality ratings are out, were putting the stock price of american carriers, i think that's not terribly relevant, which airline came out on top
speed to one of the one that came out on top is in that list southwest airlines was the number one carrier in the 2021 airline quality rating in the year that swore 60% decrease in airline passengers, southwest earned the top spot by minimizing customer complaints, that's always a good thing when would-be flyers are not able to fly because of the pandemic, as you can see the other end of the pole southwest at number one and number ten was front tier had boast the highest customer complete and highest denied boarding rate among the top ten airlines in the country, legionnaire which was last year's number one has come in at number two, southwest people love southwest. stuart: i'm sorry i thought it was an international ranking but that was domestic carrier.
>> correct. stuart: wait a minute, we have another one, i know you're a dog lover in this story is obviously for you, some hotels try to get people in the door offering special perks for dogs, you got the story, go ahead. ashley: i do, many people can find their pets for keeping them same during the year long lockdown and so hilton hotels is stepping up and putting on a menu for our four-legged friends, starting may 1732 of hiltons pet friendly hotels in the uk island are going to offer a new dog menu called bone a petite, the slope cooked beef brexit, gluten-free tomato pasta with cheddar cheese and even a nonalcoholic wine infused with all the flower engine sing, helen says the menu was developed with nutritional experts, my dogs would love all of that, i guarantee it.
stuart: i would just love to know how many people actually stay at that hilton hotel because of the dog perks, how many people do they actually bring in, it is good pr but does it really bring people in, don't know, good report. >> they are saying yeah. stuart: yes they did, thank you. take a look at this a baseball card that contains a piece of michael jordan's jersey and it's going to sell for millions, we have more, tens of thousands of new york city workers back in the office, some of them don't want to go back, it's a growing trend across the country and we have a report on it. ♪
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crypto this morning, one crypto this morning, that is a crypto currency, it keeps going higher and higher, it broke past $3000, our latest quote puts it at $3190, i don't know how many percentage points that's gone up in the last few weeks but doubled or tripled or maybe even more, as for bitcoin the establishment crypto $58270 per coin, we just learned this coming at us new york city will resume all day subway service on may the 17th, that is a big sign of recovery, the subway used to be close for a couple of hours overnight but starting the 17th of this month i'll be open all day, all night. the cbs poll shows 60%, that is a huge number, 60% want to be completely remote or only in the office part-time.
that is a very large number and if accurate it would mean the corporate office looks very, very different down the road, what say you. >> i don't like that, full disclaimer i am here in connecticut working from home but i think what that underscores, working from home provides flexibility, it shouldn't be a bl and doll, in order to make this hit at 1130 i get in around 2:00 o'clock in order to make my trains and all the other stuff, i would've been a 14 hour day, that is tough on your family life, instead i get to do the hip from home and it works out beautifully, you lose so much if your entire career is at home you lose the inner office relationships, the collaboration and you lose the
lunches, the shaken hands and kiss and babies, that is a foundation on how you develop as a worker, as a career person, quite frankly as a human, that is disappointing, i really help as we get more and more people back to the office, those numbers change a little bit over the course of the next couple of years otherwise this pandemic will have done another major institution that makes america what it is. stuart: that is a major issue i'm gonna turn to what might be a minor issue, disneyland in california reopen friday getting backlash from the cancel culture, san francisco gates, i'm not sure where that publication comes from but it's criticizing true love's kiss, the scene you're seeing on your screen because prince charming kiss the princess without consent. you have anything to say about this. >> boy do i have something to say, one, keep in mind if you look at an accurate
representation, she was poisoned and that kiss saved her life so for the people who wrote the story, if you are ill and somebody needs to perform cer, are you going to get upset, no, you're not can have an option, they're gonna save your life and you're going to live, general notion of let's rip apart all these things from her youth just because were looking for something to rip apart, leave things alone, little girls can be princesses and presidents, let's keep that in mind presidents of companies but they can have that part of their youth and i don't think anybody is looking that the prince charming of snow white and saying that's a microcosm of date rape culture in college, if they do i think they're going to step too far, i'm not saying date rape in college is a positive thing, i have a daughter in my home, absolutely do not want that but let's
disaggregate this, this is a cartoon, fable for many, many years, it is not what we fear as dads and daughters. stuart: i have four daughters and five female grandchildren, i thank god did bless me. thank you for doing the hit even if you're coming from home, we like it. see you again soon. the dow has gone back up over 300 points, the nasdaq has sunk nearly 50 yen for bifurcated market as of now, take a look at the retail stocks, the latest report from the united nations shows online sales around the world really jumped accounting for 19% of all retail sales in the past year, that is quite a statistic. then there is apple going to court today against the makers of fortnite, ashley, is tim cook going to testify, do we know when. >> we don't but you're absolutely right it's been
called one of the important legal actions in recent years, epic games as we know massively popular fortnite game, we try to pollute in the courtroom that the way apple runs its app store is discriminatory the case is a landmark in defining and limiting the power and let's be honest the gatekeepers today for the internet for thousand of the aspiring small companies in the case starts six week, eu regulators ruled the apple had abused his position to the detriment of other companies engaged in streaming like spotify, epic games, they sued apple and alphabet google last october when they took fortnite
from their mobile app stores, this could have far-reaching implications especially for the company the gatekeeper they get a little bit of the action from these companies. stuart: it is a big deal, we were talking over the weekend of united liverpool, premier league soccer game postponed, the fans embedded the pitch, take me through this, this is a crisis for top-level football soccer in europe, take us through it. ashley: it is, it's all about ownership, 50 plus one role means that no corporation or investment group can hold more than 49%, in other words the fan have a better say, i was settled into the game yesterday and before it kicked off hundreds of fans outside protesting and hundreds more got into the stadium, some got into the pitch and all protesting the american investors who took over mansions
united in 2005, they also owned the tampa bay bucs, the super bowl box but these protests have been simmering for years and i think it came to and had when one of the english team said yes were gonna join the european super league, that idea collapsed in 48 hours but these fans, that was the final straw, they are the red devils, you see green and yellow, that was the original uniform colors for manchester united in 1978 when the team was first formed, i understand the fans protesting but what they did yesterday was way over the top, not good news at all and a blackeye for fans after they did so well protesting the european super league and you missed a really good game. stuart: the collapse of the european super league is not over, that stories would have repercussions for a long, long time to come. ashley: very quickly the premier
league is making all premier league teams sign a new charter that would make such a league illegal, that could put in into it. stuart: i think it has. thank you. then there's this lebron james outspoken about police reform buddies being silent on human rights abuses on china, could have anything to do with the nba for billion dollar partnership with china, were gonna get into that, some cities running out of gas but there's no shortage of oil or fuel, there's a shortage of drunk drivers to deliver it. we've got the report next. ♪
stuart: take a ride in a big old truck, maybe there is a shortage of tanker truck drivers, they deliver gas to gas station, short supply, the drivers, grady trimble is at a restaurant in illinois, some travel, summer driving, just getting started, is it possible with a shortage of gas truck drivers will actually raise prices? >> is something that might happen and you might have trouble finding gas uncertain gas stations. looking here you wouldn't think there was a truck driver shortage but 50000 drivers needed for the entire industry and for the tank trucks that deliver gas specifically, about a quarter of their fleet is sitting idle because they don't have people to drive it, phil flynn oil and gas, you know the
drill summer months, summer travel, shortage of gas, if you don't have the drivers will we see spotty shortages across the country. >> yes were already seen it, certain areas florida, vacation areas, los angeles vegas, aaa is morning there will be more of that as the year goes on, were seen the impact from higher summer gasoline that politically concocted blind of gasoline, there is $4 for the good stuff, you know it's gotta be good if it's over $4 a gallon. >> when we look at historically at gas shortages is an actual shortage of gas, the product itself. >> usually a refinery outage or hurricane but this time it's about the lack of drivers, that could actually change because the shortages were seen in the trucking industry is starting to have the refining industry as well, they will have a hard time finding workers. >> demand fell at the start of the pandemic, a lot of drivers got laid off, now demand is
coming back and a lot away with summer travel expected and demand is back, drivers are not. stuart: got it, grady trimble thank you very much indeed i'm going to change course and talk about drug delivery, something that is always fascinated me, kroger getting into drone delivery, what you got on this. ashley: absolutely right, the supermarket change started a pilot program at cincinnati headquarters, kroger is partnering with drone express to deliver groceries in centerville ohio and later this spring, that will begin the technology allows for deliveries of up to 5 pounds to customers homes or wherever they may be, this is kind of cool delivering cookouts applies to a park and little as 15 minutes you can have hotdogs coming out of the sky, plans to expand the test to additional store in california this summer
and let's not forget walmart has several drone tests underway, it's on its way so to speak. stuart: on its way so to speak. the nba has a 4 billion-dollar partnership with china and of course they want to protect it, are they therefore turning a blind eye to human rights abuses in china, we will cover the story. kobe bryant zwicky jersey on the auction block, how much do you think it'll sell for, we have an answer after this. ♪ (vo) these days, every business is a connected business. so you need a network that's built right.
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bon bonhip withhina ihinaernay i focus a the lhegue pakes irthina's inte rnattenalteontemerterotectstect l, asrencasrencelenc tel aelto, el,el,eloi,,ss nows t t t n go g t g ign g cghina hum h ri ghghiolatiiola tola teep thephep deoingngng.. >> th acthe chie cseket in the nbac players especially lebron james very quick to jump on injustice in the u.s. by completely ignoring the issues in china for
example he tweeted your next over a picture of an officer in columbus, ohio even before all the facts came out about the shooting were the officer killed of 16-year-old in the act of trying to steal stabbed another team. >> 1 million uighurs in prison camps in china just because of their beliefs, the state department says the treatment of uighurs in china amounts to crimes against humanity, canada and the united kingdom during the statement for the u.s. calling the situation human rights violation and abuses, no tweeted nothing from the mba but the league is allowing players to put social justice messages on their jerseys aimed at the u.s., one tweet condemning china's actions from a general manager got the league banned in china in 2019, that tweet has been removed about $1 million in medical supplies to the chinese communist party in an act of goodwill for talks of a new tv deal, the silence is summed up in one word, money, the nba
commissioner adam silver says the loss of revenue has been significant in the hundreds of millions of dollars, he says the talks for new tv contract and not included restrictions on speech but we saw one critical tweeted for the mba. back to you. stuart: thank you very much indeed, rapid change of subject, memorabilia, we have a lot of memorabilia on the auction block, king golden is back with us this morning, he is launching the largest auction in the industry history, that is quite something and i'm glad you're with us to tell us all about it, i minister with the inevitable owners wagner card, how much, what is the history. >> this is the famous honus wagoner, the holy grail less than 50 of these known, this is a psa to out of all the ones known this is a six or seven
best examples, the auction opened up late last night and the card is currently at 2.2 million, i know i estimated 4 million but i think that might be conservative based on the first few hours of bidding because it last for three or four weeks. stuart: okay, will check with that how about michael jordan's card, as i understand it has a little piece of his jersey on the card, is that accurate? >> this is the first time any card manufacturer made something called the jersey card, this is a part of his 1992 nba all-star jersey, it is easily the most in demand michael jordan card and valuable of all time, we expected to go for well over 3 million possibly four or five in the current bidding in just a few hours is $1.3 million, is
the highest grade in existence and has already broken the record for the most valuable michael jordan item, not just the card but an item ever sold in less than 12 hours. stuart: i think you have a kobe bryant signed ricky jersey as well, how much. >> kobe gets into the hall of fame next weekend, this is his rookie jersey photo matched to seven games, the only one known and it's in demand expected to exceed $500,000. let's move on to lebron james, assigned rookie patch, tell me whatever key patches. >> this is an upper deck called exquisite the most in demand card, slightly higher grade recently sold for over $5 million at one of his exquisite cards this is part of the 99 limited series known as an rpa autograph and we expect this to go for 1.5 million or
higher. stuart: to complete the tour of the force i think you have a limited-edition babe ruth baseball card as well, how much cannot. >> this is from 1921 it will sign cheap compared to the others, we expect this to go for $250,000 or more. stuart: just out of interest you do get a percentage of the overall price, don't you? >> yes we have 20% buyers premium auctions and will give you breaking news we set an all-time record this morning in the fifth hour that the auction was open we sold over $20 million which is by far an industry record in five hours $20 million. stuart: you get 20% of whatever you bring in. >> just like at the other major auctions we get a 20% buyers
premium. stuart: i'm in the wrong business, congratulations, you are doing very well, great stuff. thank you for joining us. >> auction runs through three weeks and golden auctions.com closes on may 22 and you find anything for all prices. stuart: bring in that money, you're good at it, thank you very much indeed, a trivia question, this is a monday question how much did the tsa collect and loose change in 2019, how much did they collect, i don't know that's a lot of money. ♪ . . .
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stuart: you know how you put your loose change on the conveyor belt when you go through the metal detect tears at the air for the? the tsa picked up $926,000 worth of left over spare change. amazing. jackie deangelis in for neil today. jackie: i'm jackie deangelis in for neil cavuto. this is cavuto "coast to coast." why a bombshell from the "new york post" is causing some controversy over getting kids back to school. the trucking industry suffering from a shortage of drivers. that could lead to a fuel fiasco next time you try to