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tv   Varney Company  FOX Business  November 29, 2021 9:00am-12:00pm EST

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lot of chaos around the country they do this in various cities. at what point does raise the issue do you become a distraction or hazardous to pilots in the air. keeper light on the inside. that is my christmas advice. maria: great to be with you this morning, have a great day. we'll see you tomorrow. "varney & company" begins right now. stuart: good morning, everyone. first things first, how is the market doing after the selloff friday. the answer, a modest limited bounce back. look at the dow, 340 points but that is nowhere near 900-point loss on friday. it is going to go up a bit. the s&p 500 done 106 points on friday back up to the tune of maybe 50 this morning. the nasdaq will have a good day it was down 2% on friday backup
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200 points today. the nasdaq is doing well. look at this the yield on the ten year treasury. 1.55% as we speak. oil prices are rebounding but just a 72-dollar per barrel level, and the low 70s there, huge selloff friday to get back to $60 a barrel area. crypto's are rebounding, bitcoin, the ten year treasury yield. the ten year treasury yield is 155, crypto is rebounding, bitcoin at $57000 this morning. and then the financial markets, modest rebound across the board, omicron. the panic that hit on thanksgiving. japan and israel have banned all foreign travelers, many countries are imposing restrictions on international travel as well. as of today no flights to america from eight southern african countries.
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omicron has appeared in more than a dozen nations. what we know about omicron is limited. it's easily transmitted but does not appear to result in serious infection. it will be to - 4 weeks before we know if existing vaccines are effective. 11:45 a.m., the president will address the nation, we will carry it live, he's talking about our response to omicron. step back a moment a feeling of exasperation when omicron hit, oh no not again. we all have covid fatigue. there seems to be little enthusiasm for any new lockdowns especially as the holidays are now upon us. perhaps this is the moment when we realize the virus is not going away and we have to learn to live with it and shutting down the economy is disastrous for everyone. it is cyber monday, november 29, 2021. "varney & company" is about to begin.
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♪ ♪ ♪. stuart: let's get straight to it first things first, i met the market, how are we doing monday after friday's huge selloff. left-hand side of the screen, a modest rebound, jason katz with us, off we go. as the future performance of the market depend on our response to the omicron variant? >> you said it best in your monologue. we have to learn to live with it, are we really surprised let's be intellectually honest about it are we surprised there's a variant? let's put this correction into context, friday was a highly liquid market. it was a skeleton crew on wall street myself included. a lot of portfolio managers that want to salvage.
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it is not lost on me too answer your question that supply chain inflation are very much interconnection between covid reality and perceptions. it is too soon to draw conclusions. i think the bark is going to be far worse than the bite. stuart: one thing that i noticed energy price inflation may be moderating. i see the price of oil down $72 a barrel and gasoline coming down a little. is that a positive factor for the market? at the margin it is, it certainly an input cost that is weighed on a lot of margins and causing some of the inflations. above all what's really causing the inflation is supply constraints and travel restrictions of these other concerns will exacerbate that. the narrative in the coming weeks will shift back to the issue that we've been talking about for weeks on end and we will continue to talk about it. i do think there is a recovery
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but it will not derail it it will certainly dampen in the midterm. stuart: is there enough money on the sidelines, the trillions in money funds in bank accounts. on the sidelines to prevent a real drop for the market? >> i tell you in a notably, i took a break for my vacation and put a lot of dry powder to work. i do think $2 trillion in savings in the four plus trillion in money markets between individuals and institutions will buy some of these tips estimated doesn't morph into something that we saw the beginning of covid which is far from our base case. stuart: a modest rebound this morning and this afternoon when he addresses the supply chain as well. thank you for being here, we will see you soon. the u.s. placed a travel ban on eight south african nations, good morning to you. which other countries are
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limiting travel is before israel, japan and morocco using phone tracking to locate carriers of the new variant and who they might've been an carrier with. the uk is banning flights from some african nations while all arriving passengers must show a negative pcr test the philippine banning switzerland and the netherlands australia has reopened its borders by two weeks. look at the amount, it's rules impacting international travel. just when were starting to recover in ahead of the holiday season where a lot of people want to see their friends and family. stuart: i have to point out if you want to fly into america you have to be vaccinated and have a test unless of course you walk across the southern border no vaccination no test. lauren: domestic travel will be fine it's international that is a problem.
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what is a vaccine maker whether they have to offer on the omicron. lauren: moderna is up 11% in the premarket there working on a higher dose of their booster to target omicron. they said that will be ready soon if they need to make a brand-new vaccine. then you biontech. it is not clear if the have to rework everything. novavax is developing a vaccine specific for the latest variant and that will be ready for testing and weeks. stuart: to - 4 weeks to find out if existing vaccines are effective against omicron. you're flying blind at the moment. stephen moore and economist is with us this morning. is the new variant attest for president biden and the economy? >> it sure is. i'm just praying that we don't make the mistakes that we made a
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year end a half ago or two years ago when politicians panicked around the world especially in the united states and we locked down economies and shut down our businesses and commerce, had catastrophic effects on the economy. the really interesting thing about lockdowns, they had very little impact on reducing the spread of the virus that is an effective way to combat a virus like this. we don't know right now how severe this variant will be but i do think this would wreck the economy and the stock market if we sell any lockdown. one other quick point. the biden administration announced there would be travel restrictions on some of the african countries. when trump called for that at the beginning of the virus back in february and march of 2020.
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remember this is such a racist thing to do and now it's ironic that nancy pelosi and biden said how race would be to have a travel restriction and that's exactly what biden has called for now. stuart: i don't see new lockdowns in america. the public does not seem to be amenable to new lockdowns. i was out about over the thanksgiving holiday and i did not see anybody frightened of omicron. i saw a lot of people out and about enjoying the holidays. i very much doubt that the president or any state governor could seriously call for serious lockdowns at this moment in time, are you with me on this or do you think new york would go that way or california. >> i hope you are right but i'm not as confident as you are frankly. you are probably right but when you look at some of the
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democratic states, like new york and california and illinois. a lot of them say that they did the right thing, they still maintain that they did the right thing. they actually believe that then they would move towards lockdowns. one point that you just made will the public over this? will the american public go for severe lockdowns, there you have exactly right. i live in montgomery county maryland and they just reinstituted new mask requirements. i don't have a big government with mask requirements, i don't like them but i can live with putting a mask on. what worries me is the ideas of telling businesses that have to shut down you have the whole debate of an essential business and what's not. i think there's a reason why the market fell by 900 points on friday and i think the fact that it's coming back now suggest that investors don't think that you will see a recurrence of the
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shutting down of the american economy. stuart: i hope we are all right, thank you for being here. we will see you again real soon. the left-hand side of your screen a lot of green although it doesn't make up for the big loss on friday. the dow will be at 350. the south african dr. who identified the covid variant speaks out. what she saying about omicron symptoms. will let you know. the president's top doctor anthony fauci says we must prepare for omicron's arrival here in america. >> when you have a virus that is a ready gone to multiple countries, inevitably it'll be here. prepare for the worst. stuart: obvious question we will deal with throughout the show, we already deal with it will we see more lockdowns? stay with us please. ♪
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♪ ♪. stuart: we are playing the beatles will get a lot on the beatles, i saw get back the first episode on disney+. i saw over thanksgiving and it was absolutely gripping. i could not recommend it more higher. i want to look at disney stock when the market opens. it was so good you look at philadelphia international airport actually 38 degrees new travel restriction there being put into place, grappling with the new variant, kelli o'grady is at the airport in los angeles, lax. what you have for us there? >> omicron is coming at a time
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when the industry is rebounding the travel over the weekend for the holiday. as you can see behind me the traveling internationally are going to hawaii it's near pre-pandemic levels. even though they're urging to panic concern is growing. in response the u.s.'s are sticking travel from south africa and other african nations beginning today. another of countries are following in pursuit. israel, japan and morocco are banning entry to all foreigners. australia, and australia of growing nations that have detected cases. many included the world health organization or criticizing the bill with south africa saint is being punished for detecting and communicating the new variant. on top of that the international association asserted this will only cause fear covid variant. more fear does not bode well for other airlines and businesses
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looking to recover from the past two years. studies are underway to examine how vaccines hold up against the new variant with many expressing initial optimism that they will offer a degree of protection over the weekend dr. fauci informed the president it will take two weeks to have definitive information and in the interim all americans must get vaccinated. with president biden accusing his predecessor of xenophobia over last year's travel bands there may be a follow-up coming with the new york's governor declaring a state of emergency in u.s. health officials saying it might already be in the united states even if not detected it begs the question are more travel bands coming in more restrictions coming out home. stuart: good question, thank you very much indeed. the doctor who discovered the omicron variant giving some insight and the symptoms. other symptoms anything like delta? lauren: much more milder, exhaustion, ache, headache, scratchy throat, not a sore throat, scratchy, no loss of taste or smell and it seems to
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be more contagious than delta but not more virulent. stuart: that the lady would identified in south africa. lauren: they also noted in south africa maybe the symptoms are mild because it's in younger people. stuart: let's go back to dr. fauci and what he saying about omicron and future lockdowns. roll that tape again. >> when you have a virus that is already gone to multiple countries, inevitably it'll be here. the question is will we be prepared, the preparation that we have ongoing for what were doing now the delta variant. >> should we expect to be seen more lockdowns, new lockdowns and more mandates. >> i don't know it's really too early to say. stuart: really too early to say. let's bring in that mccarthy with us this morning. i don't want to get into a lockdown argument right now. i want you to tell us as an expert what you know about the variant so far?
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>> were gonna be encountering new variance for years. the thing to know here when the virus gets into a healthy adult, the immune system usually disposes of the virus in a week or two but something different happens inside of the body with somebody with a weak immune system. they cannot get rid of the virus and it keeps mutating and changing and some of those changes make it more contagious, resistant to our vaccines, resistance to our therapeutics. i have not seen anything this far that would warrant a lockdown. what we are seeing, this appears to be relatively transmissible. the doctor who was from south africa who identified this said the cases were more mild. i would urge caution interpreting that, we don't know if these are patients previously infected were vaccinated or younger, we can't really say too much about it but there are reassuring features here. it looks like the variant emerged in late september or
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early october. if that is the case is not spreading all that fast. what were see the hospitals in south africa are not overrun. that's why you lockdown, you lockdown the city, you locked out of country if the hospitals are becoming overwhelmed and doctors like me are having to ration medical care we are not seen anywhere in the world we don't lockdown just because we see mutations and attest to. we lockdown because people like me are choosing one patient over another life and death. were nowhere near that. i'm optimistic in the next two weeks we will figure out if our vaccines that we currently use work or if they need to be tweaked. we will figure out for testing and therapeutics work. it's tough to tell people to sit tight but preparing for the worst and preparing for the best are not that different right now. i go around with them asking if i get into a big crowd indoor i'll put them asking on and i'll take it off. that's all we have to do waiting to see what happens but nothing suggest lockdowns or imminent.
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stuart: can i wrap it up like this, it seems like we panic last friday. the financial market in particular. this monday morning it seems like panic was not fully justified. would you agree with that. >> i would completely agree people saw something that looked alarming and overreacted. doctors and scientists did not share that level of concern. what were doing is getting to work in figuring out what we need to do for people you're absolutely right it was an overreaction to mutations that we seem. >> doctor matt mccarthy, it's great to see you. we'll see you again soon. check the features everybody's looking without rebound after friday's big drop you get a get a rebound, up 300 for the doubt and up 200 for the nasdaq in the opening bell is next. ♪
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♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock? stuart: look at that twitter is rallying nicely up 10% there is some speculation about the future of the current ceo jack dorsey at twitter the stock is
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up 10%. overall the market is going to open higher this monday morning after last week's selloff, that was friday the dow is up 360, nasdaq up 300, he fits is with us now that was quite a dip are you buying it? >> you bet i am these days that was a drop in the bucket minus 2.3%, let me look at my notes that is 2.3%, we hadn't experienced a decline of more than 3% but last year we had 16 we are down minus 5% the average since 1928 is 16.8, that was very calm yes i'm going on the hunt these are the moments as an investor that can make or break your retirement if you don't act. stuart: tell me what you're buying today. >> two things i'm going after energy and financial specifically chevron and j.p. morgan there both have great
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portfolios. as the world reopens and as a virus gets under control. these are the stocks that will keep us open and take off like rockets. stuart: friday was an overreaction, pna to the arrival of omicron. >> it was a negative feedback, it accounts for 72 mike 80% of today's trading most of it is so fast humans cannot keep up with the kids moving in the algorithm gets out of control on a holiday weekend prices plummet. what you want to do is think about the other way and how you can aggressively take advantage of computers as they play the other side. stuart: the president is going to address the nation at 1145 about omicron. is this going to be important for the market? i can't imagine that he will order new lockdowns of any kind but i do think what he proposes to do about it will have an impact on the market.
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what say you? >> i think the psychology we have to take the politics out of it right or wrong agree or not. it's how the market precedes what he's going to say. if we can understand that the vaccine and there is a plan and keep the country open and moving i think the market will stabilize if we get a with a we will lockdown clampdown i think the markets will take another don. stuart: reasonably good news on energy price inflation for the price of oil is up, $72 a barrel nowhere near the 82 mike 85 it was that earlier and gasoline has started to fall i see that as a positive for the market today. >> soda why it means people are having a huge chunk taken out of the wallet they can use it for christmas, work and put a roof over their head. there is a lot of needed things they can do with the money if gas prices come down. stuart: will be watching to see if it goes well. thanks for being with us on a monday morning.
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a very interesting time to be on tv. thank you for having me. stuart: we will see you again soon, 20 seconds to go, we will see how we rebound from friday's big loss, please remember, you might want to forget the s&p was down 2.2 7% on friday in the nasdaq down 2% even. how about that, let's see what kind of bounce we get november the 29th, cyber monday and were up and running from the start, 355 points back to 35000 to 60 that is the level of the dow for the radio listeners all tell you this on the left-hand side of the screen all 30 of the dow stocks, only two of them are down in disney is unchanged, the rest of open higher. the s&p 500, down 102.27% on a friday, backup one point to 3% this morning. the nasdaq was down 2% friday and backup 1.5%.
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that is a solid rebound especially for the nasdaq i have to believe big tech is doing well. coming back after friday's selloff, microsoft is up on trying to read the percentage they're all up 1% or more. close to 2%. but have a look at twitter that is surging up 10% what do we know. susan: there's reports that jack dorsey might be stepping down as the head of twitter, jack dorsey handles two companies he oversees twitter and square. we don't know how long the departure is and whether or not it's permanent but there are signs he might be taken a step back as the ceo, will he come back and we don't know just yet, the reports are temporary. we know these personalities outplay. stuart: i find it interesting that he stepped aside and the stock went up 10%. investors thought it wasn't doing that great.
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susan: maybe he was spreading a little thin across two companies. maybe twitter needs a standalone. stuart: another standout and that is made during a vaccine maker, what is the standout and why is it up so much. susan: imagine if i left in the stock goes up, what does that say. i would say my moderna up another 10%, 20% rally on friday. it goes down stuart varney, has your name on the show. they love it in the studio my moderna says it could roll out and omicron vaccine early next year and they say they're reformulating to deal with the variant as well. stuart: bitcoin was at 57000 now it's at 575. susan: the selloff lasted three trading sessions are so. you have the dip by coming from el salvador which picked up 100,
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were bitcoin of the fire is micro strategy another $400 million with the bitcoin. 7000 bitcoin save on the dip and that's what you look at queen-based en bloc chain marathon are all backup today. i would say less than three days you only down 67000 that is not much of a bear market. but you heard from some of the billionaire hedge fund managers this morning, bill ackman says this might be a buying opportunity, the knee-jerk reaction in a thin trading on friday which resulted in the worst day of the dow and s&p since february. stuart: let's talk about the whole market. susan: you saul in the covid death when you buy on the dip you usually get rewarded for. stuart: can you show me tesla 2.8% today, $1111. i understand they could turn out
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cars. susan: finally how long have we've been talking about berlin. next month according to the german publication tesla will get the environmental permits and build as much as 30000 cars in the first half of next year. we no approval has been delayed, now it looks like it's going to be december and initially they will ramp up 1000 of the tesla cars that were rolloff starting in january a thousand a week and then they will gradually increase from their. stuart: do you have any doubt that they will sell all of the 1000. susan: no doubt that thousand a week is very little because they set to deliver tesla as a whole and a record number of 800,000 cars this year. stuart: airlines i think there can never be responding to the international travel problems but at the same time i think the responding to strong traveling numbers over thanksgiving. they're all up this morning. susan: did you see the lineup i
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traveled over thanksgiving and it took me two hours to get to the airport. there was lineup through the door 2.35 million travelers screened on sunday. that is the highest number since february 2020 before covid started. omicron whatever variant people just want to get out and you can see them traveling once again. stuart: you didn't miss the fight did you? susan: yes, i did, they put me on the next one. stuart: you missed your flight? susan: we talked about this off-camera because doucet is emily person and i always get there at the last minute so i missed my flight. stuart: you will never trumper with me. i'm always there early. susan: i was waiting for people to pick my bags up. stuart: i want to talk about disney, put it on the screen. it is only up a tiny fraction. i am shocked i saw the first
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episode of get back, the beatles on disney+ and i loved it. it was absolutely brilliant. three hours. the largest single employer of new zealand. i was gripped. the whole way through, it is three hours i have a short attention span. i cannot walk away from it. these four guys, they are sitting around with their instruments creating a brilliant using confront of you. susan: in their prom. stuart: paul mccartney had a piano creating lady madonna with evan standing there writing the words down and crossing work on changing it. that actually happened. susan: i have not watched it but i recommended it to you. i said you should get disney+ to watch this documentary. i was reading the notes how applicable this is to the business world. wilson who is the most famous in
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new york put a note today i get back in d said it's applicable because it highlights teamwork and how the geniuses get together in different expertise in specialties. stuart: you can see the way that they created the conflicts that they had as they were creating the brilliant music. that is fascinating. that is the end of disney+. susan: isn't that amazing. stuart: i was at the house with my good friend rick and he turned me onto it. i am moving on. the former dow. susan: goldman sachs. stuart: not bad. s&p winners. >> marathon petroleum, they dropped 10% on friday. stuart: nasdaq winners, or any of the big tech.
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susan: over and over again chipmakers. i went to see intel move. susan: intel has their own problems are lacking behind in their playing catch up and the rest. stuart: the monday after the mess up on friday. joe biden once called former president trump's covid travel ban xenophobic but now he's doing the same thing he says it's a cautious approach. rotate. >> we will be cautious and make sure there's no trouble from south africa and other countries in that region. stuart: he addresses the nation at 1145 this morning. even the naming of the variant is political. the world health organization avoid calling it gx i because it may be the couch out to beijing. kt mcfarland will cover next hour. it is cyber monday were taken into the amazon warehouse right after this.
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♪ ♪. stuart: that is a christmas tree farm, and outdoor show room, and kirkwood missouri. it is chilly, 36 degrees but it is november the 29th. there is no guarantee the online orders made today, cyber monday will arrive in time for christmas. connell mcshane joins us from the amazon facility in new jersey, just one of the facilities, how is it looking for on-time christmas deliveries? >> amazon will tell you they will get it there on time issues
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would be with the third-party sellers if you buy from amazon through a third party there trying to help them out with shipping because it's been a issue all around one of the issues amazon is confident that they can get it there on time. it's the first facility like this in new jersey, something like a million square feet about 28 football fields or soccer fields. you have the conveyor belt they are 14 miles of conveyor belts at this facility. he talked to the amazon officials. you ask them the question will i get my present on-time, here's what they say. >> they will get their present on-time we invested in new buildings, new people and new technology we have hired hundreds of thousands of employees this year and part of that is because of the pandemic we saw a lot of the shores shutting down people were buying more and more online we have been able to prepare for the past 20 months. >> you heard her speaking hiring a little bit amazon has brought an recently 125,000 staff
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workers and seasonal workers. even though it's tough to hire the getting people to work for the company. broadening this out as an industry as a whole this wraps up cyber monday huge weekend not just today the last few weekends the national retail federation expected 158 million plus shoppers and 63 billion today. we've seen a move back to people shopping in stores. that is one of the trends to watch we saw the black friday people want to make sure they get their present on-time but amazon is insisting if you order by the 22nd of december, they say they will get into on-time. stuart: the 22nd of december i put that date down. thank you will see you again real soon. the foot traffic on black friday was up 48% from last year. down 28% from 2019. marshall cohen retail guy drink this right now. that does not sound good to me.
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down 27, 28% pre-covid. >> welcome to holiday 2021. it's a whole new paradigm basically with the covid variant that will be an interesting dynamic we will have to wrestle with. think about what's happening retailers have been pushing us to shop earlier and earlier we to holiday start in october if you expect traffic to match what it was pre-pandemic levels for the month of november were technically for black friday is not going to happen. we don't have that many relatives to buy all this product for if we start shopping earlier. interesting retailers with 2020 with the softer comps but the 2019 number because that is the one. stuart: that's important when this is cyber monday, what are you expecting? >> i'm expecting this to be a
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little bit tethered backwards a little bit. last year i talked about the grain of black friday and this year i'm talking about the delusional black friday and cyber monday. cyber monday started weeks ago in some cases. a lot of the digital platform retailers, think about what happened we have covid retailers to get so much better in the digital commerce business and they did and they started earlier, they did it during covid and they continue to keep their foot on the accelerator. were spreading out on the online business, retail stores are growing at a faster rate the digital platform. cyber monday while it was still be a very big day isn't going to be the biggest as what it was in years past. stuart: diablo retailer. and he thinks is really well-placed to do extremely well. pick me one out.
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>> i'm going to pick the one in stores the most in pace with the digital platform and when i did all those visits over the last few days, target stood out better than anyone else. they still continue to drive the stock in the stores and their filled with product they have staff in the stores and the online digital platform and you can see the results of the markets were running them forward. there in the best position. stuart: it seems like the market agrees with you it's on top of the list a winner this morning. thank you very much for being here. i'm sure we will see you before christmas. >> have a good holiday. stuart: what are the shipping companies doing to keep up with this holiday season. lauren: hiring 230,000 temporary workers. 3.4 billion packages are expected to be shipped this holiday season, 400 million more than last year. if you count the holiday cards and letters is 12 billion items
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that is a lot. stuart: i tell you the amazon vans are clogging the street. susan: the blue bands are everywhere but people going to the store to get an item will help. stuart: plenty of speculation whether matthew mcconaughey will run to be the governor of texas. he made his final decision. we will tell you what it is. you may not know his name but he founded and led the team that created the xbox 20 years ago. it is now 200 billion-dollar industry. is microsoft still a leader. we will ask robbie because he is here after this. ♪
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stuart: the new york stock exchange is halting trading in twitter at $48.68 when it was up
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38 cents, earlier it was up 10%, the stock trading has been halted, news pending. we don't know what the news is but a lot of speculation that jack dorsey is leaving. for how long, we don't know or why. that's a speculation, the stock is halted. then we have xbox, they are still around they are celebrating the 20th anniversary. the man that led the team is robbie who joins me now. robbie back, welcome to the show. >> thank you for having me on. >> your celebrity. 20 years ago you created xbox, is microsoft still a leader in the industry. >> they really are they've expanded the business to be in a real entertainment business they have a great system called gain path they've done a phenomenal job developing into a unique part of microsoft. it's the entertainment part of microsoft. stuart: am i right in saying the audience, the gaming audience is
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predominantly male and under 40 or am i complete the outdated about industry i don't understand. >> i think you're a little outdated. i think the audience has broadened dramatically. over the half the people play games are women. this is the largest entertainment market in the world. something like over 200 million people regularly only play games in some way shape or form. the market has broadened deeply since i was involved ten or 20 years ago. stuart: what did it do to suddenly enliven this industry? >> one was a game which gamers will recognize as halo that was a huge breakthrough. the biggest thing for me was xbox live and online gaming service and a social media service before myspace or facebook or any of those. the idea that you could go on and find your friends and play
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games anytime on a broadband connection. in 2002 it was really quite revolutionary we take all that for granted. stuart: i'm sure it changed your life, breakthrough and development would change your life. but my question is do you own microsoft stock? >> i do but obviously not as much when i was there i own a little bit of microsoft stock. i'm a fan of the company i think they've done incredible work and i was there for 22 years. stuart: i wasn't there but i own the stock for many, many years. it was a pleasure to have you on the show today, congratulations on what you did back then and what you doing today. great to have you with us. on the show steve forbes, kayleigh mcenany, jason chaffetz all coming up after this. ♪♪
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... better phone this holiday season? oh! i know, i know. giving a better phone on a better network. how much better? ranked #1 in network reliability 16 times in a row better. the most awarded for network quality a whopping 27 times by j.d. power better. yeah. and verizon is ranked #1 in customer satisfaction for small business wireless service better. this round's on me. holiday better with 5g from america's most reliable network. because everyone deserves better.
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>> ♪ the boys are back in town ♪ stuart: good morning, everybody, 10:00 eastern straight to your money, this is what everybody wants to know about, huge rut for the market on friday what's it doing this monday morning? well the answer is that the dow has come back to the tune of just 100 points, it was down 900 on friday, and that's not much of a comeback now is it but the nasdaq, that's doing very well indeed. it was down 2% friday, it's back up nearly 1.6% so mixed picture here, not much of a
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recovery for the dow but a solid recovery for the nasdaq. bitcoin, recovering as well, it's at 57, 400 and the 10 year treasury yield coming in right now at 1.55%, and big tech almost entirely up pretty much, yes it is, up across-the-board, microsoft, apple, alphabet, amazon, meta, as in facebook all on the upside. new numbers just coming in it's 10:01 eastern on this monday morning, pending home sales, the number, please? >> contracts signed awaiting closing really strong rebound up a sharp 7.5% in october. it had fallen in september so really coming backup 7.5% for october according to the national association of realtors stuart: it's strong but not doing anything for the market is the dow is still up just 139 points. now this. some countries, japan, and israel, have closed their borders to foreign travelers. omicron has arrived. other countries are making
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travelers jump through hoops to cross borders like constant testing and automatic quarantine you want to come to america, you have to get vaccinated and tested unless, of course, you just happen to walk across our southern border. no test, no vaccinated, just come on in. later this morning the president will make a statement about omicron. i would not be surprised to see him lean into the mic and wisper "get vaccinated" or "get a booster" but i be very surprised if he said anything about vaccinated for illegals. how could he? he's done nothing about the 200,000 illegals a month that come here, actually flying them around the country secretly at our expense. this is biden's open border policy. he doesn't call it that but that's exactly what it is meanwhile a new caravan is forming we don't know exactly how many migrants are in it or when they arrive but they are coming this is the migrant march ing season. when the president addresses the nation today about the omicron threat he should be honest about that threat. if people coming to america must
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be vaccinated and tested then everyone who comes to our country should be vaccinated and tested, and that includes biden 's open border. second hour of "varney" just getting started. >> jason chaffetz joins us momentarily, quick check of the markets dow is up 100 but look that nasdaq go, up 250 points not a bad recovery from friday. we do have with us, no, jason chaffetz is later. jeff seger is with us as we speak there he is sitting right next to me. i say the market the future of the market depends to some degree on what president biden does about omicron. what say you? >> i agree, to some degree there's other things like inflation, like the supply chain issue, the labor shortage, but when it comes to how the government handles this
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variant and any variant going forward, i think we're in a place now where a lot of people are more afraid of how the government is going to handle the variant than they are of the variant themselves. i mean, the fact that we get a state of emergency in the state of new york last night shows that these people have gone off the reservation and are doing things that are detrimental and add more fuel to the fire when it comes to the economy. stuart: i'd be very doubtful though that the president would suggest we need new lockdowns or new restrictions or new mandates. i don't think the public is in a mood for that. no, i think he would have a lot of backlash from that but i think there's also the international market that we're seeing, the international economy we're seeing other countries restricting travel. there's a lot of concern that this is going to break the chain of recovery. you know, that's the issue, it's
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going to break the chain of recovery. we're moving past this , and there's a significant percentage of people who want us to stay in this , around the world, and i think that's what we have to be concerned about. stuart: would you mind if i change the subject, completely for the last 90 seconds of this interview? >> right. stuart: you're a big fan of streaming, or you know a lot about streaming you're very much into that. >> uh-huh. stuart: disney plus has put out "get back" from the beatles. you to what a beatles fan i am, blown away by the first episode over thanksgiving and yet disney stock is doing nothing this morning, it's actually down >> it's so funny, stuart because when i saw that they announced they were going to do that you were the first person that i thought about. i tend to be more, i love the beatles, i tend to be more of a rolling stones fan but i agree with you, it was fabulous. you'd think disney would do a little better based on it, but they have a lot of catching up
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to do. they announced they are going to spend $30 billion on development where netflix, whose cleaned their clock, is spending 70 billion, so this is a good start for them but they have a lot of ground to makeup for it. stuart: a rolling stones fan? >> absolutely. stuart: i just did not know that >> i've been to every farewell tour they've had. stuart: really? >> yeah, probably a dozen farewell tours. stuart: i've got 20 seconds left don't you think it's the time mick jagger stopped perhapsing around the stage at 78 years of age? >> no, i think he looks as good and sings as well as he ever has , he should keep going for another 10 years. stuart: it's an interesting digression from the stock market , we'll do it again, jeff thank you very much indeed see you soon. now, laura is watching merck which is down 4.5% and you'll tell us why. lauren: two pieces of news on merck, first is merck and ridge
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back biotherapeutics say final analysis of their covid pill is 30% effective, and then a downgrade of cut to neutral of citigroup says there's a higher chance that merck abandons their hiv treatment trial so bad news. stuart: that's a double whammy right there, what about devon energy, diamondback energy. lauren: we're looking at the energy plays and they are sharply higher because oil, as you know, fell about 13% on friday, so the players in this field are bouncing back not in a huge way but they are bouncing back. gas buddy said before thanksgiving sunday to wednesday , that was the most demand we've ever seen for gasoline. stuart: the most demand ever? lauren: yeah, leading into the thanksgiving holiday. stuart: is that right? lauren: uh-huh. stuart: cost me an extra $30 to fill up my tank. lauren: i think i read the average bill each time you fill up is now $20 more than it was. stuart: actually i tell a lie it was more like $20 high.
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lauren: but certainly higher. i actually look at the receipt i never used to look because it was cheap. stuart: now look at hyatt hotels lauren: they got an upgrade at jpmorgan, to over wait. look everything going on with omicron as this new variant took a lot of their competitors down like hilton and marriott international but they say hyatt has sold off in recent days and will optimize going forward. stuart: right, airlines dealing with two factors here. first off the problems with international travel because of the variant. that's a negative. on the other side, you have an extremely successful thanksgiving holiday season. they are all, well a mixed picture this morning. lauren: yeah, it is a mixed picture so the international picture just got complicated, right, because of the u.s. banning travel from eight african nations, japan, israel, morocco banning all foreign traveler, the uk mandating pcr test that be bad for business travel if it gets a little bit more complicated to
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go there. the philippines banning some europeans, but, you know, ahead of the holidays, this could be a second last winter for these carriers . it's domestic travel and it should because all these restrictions i just noted are for foreign travelers visiting a country. domestic travel should be okay but international, it's a different story. we're just not getting back to those 2019 levels and i'm not sure when we do. stuart: do you remember when former president trump, when he announced the travel ban, biden called in xenophobic and now you have biden forbidding travel to eight southern african countries is he not being xenophobic or racist or whatever? that's what people are saying. lauren: on the campaign trail then-candidate joe biden wrote in february of 2020, we're in the midst of a crisis with the coronavirus, we need to lead the way with science, not donald trump's record of hysteria, xeno
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-phobia and fear mongering and on the african ban specifically this is what biden said again in february of 2020. trump further diminished the u.s. in the eyes of the world by expanding his travel ban. this new african ban is designed to make it harder for black and brown people to immigrate to the u.s. , it's a disgrace. we can't let them succeed. well, biden has now imposed one himself. stuart: it's exactly that. lauren: it's hypocritical. stuart: and the people in africa don't like it either. lauren: yeah and he didn't do it immediately. he waited a few days to actually do it, so a lot of people are saying what's the point? stuart: okay, i think we've exhausted that one let's move on shall we? lauren: yeah. stuart: american companies, celebrities, officials, have continually catered to china and now the world health organization is getting called out over the naming of the new variant omicron. we'll explain the problem. >> dr. fauci still contends covid may have originated in the wuhan wet market.
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roll tape. >> beijing acknowledges now that they don't think it originated in that market. >> it may not have originated in the market, but it certainly could have. >> the place of origin was not within the market. >> i don't think you can say that. stuart: okay, we've got kt mc farland coming on a little bit later to discuss the wuhan lab and the connection with dr. fauci. we'll be back. >> ♪ [energetic music throughout] what's strong with me?
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with nationwide 5g at no extra cost. and lou! on the most reliable network, lou! smart kid, bill. oh oh so true. and now, the moon christmas special. gotta go! take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes switching fast and easy this holiday season. stuart: well, well, well, nbc's chuck todd admits president
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biden prematurely declared independence from the virus. roll tape. one of the things about his covid response over the last couple of months is one could argue he's not been the face of the covid response. not in sometime, really not really since we declared back in july when he declared our independence from the viewr obviously, prematurely. the social spending, all of his other political problems, none of them can be solved until covid is behind us, and i think this is a reminder that he needs to be more front and center on the covid response than he has been so far. stuart: more front and center on the covid response than he has been so far will he become the public face of the covid response? he does appear for the nation at 11:45 this morning. jason chaffetz with us right now what do you think he's going to say at 11:45 this morning is he going to become the face of the covid response? >> well, it's kind of ironic here we are 10 minutes into his presidency and they are debating whether or not he's the public face of it, are you kidding me?
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the fundamental problem is he's a poor communicator, not quick on the response nor do i think he understands this issue. he certainly doesn't give us any confidence when he puts up dr. fauci as the leading scientific person. at this point when you're doing in-style cover magazine shoots and those types of things i just think fauci has lost the credibility with the american people to actually believe in the science. what i see from this white house is, they come up with the policy position and then they scramble to go find the science to try to back it up. it's just backwards with this administration. stuart: what everybody is worried about, what the financial markets are worried about and what individual citizens are worried about too some kind of new lock down, some kind of new restrictions imposed all over again. to be honest with you, jason, i don't see that and i don't think the public mood would accept that at this point. what do you say? >> i see protests around the world on these lockdowns,
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and it's so hypocritical of this white house to say that they would even suggest more masks and more lockdowns when you could go to the southern border and watch people by the hundreds of thousands flow across our border without masks and without the need to have a vaccine so you're going to shutdown botswana, really, mr. president, you think that will solve the problem? all you'll do is create market mayhem because they think that oh, there's eight countries in southern part of africa trying to get their minds around it, meanwhile you listen to the people in south africa saying yeah they are getting treated at home and having more mild symptoms than others, and when you're talk about health, you want to be cautious, but this administration is just, they just lack the credibility. stuart: well, 11:45 this morning , the president addresses the nation, we'll carry it live and see exactly what he's got to say. jason, thanks for being here. great to see you again, thank you. >> thank you. stuart: check those markets, please. that ain't much of a rebound is it? the dow is up 110, but it was
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down 900 on friday. nasdaq coming back nicely that's up 231 points. take a look at twitter, it had been halted earlier, it's still halted, a gain of 3.4% that's when it was halted 48.68 is the price and there's speculation jack drsey will step aside from his whole as ceo, it had been up 10% earlier and there's this , u.s. companies, celebrities, and officials they all continue to cater to china. lit yeah you had is with us, already, which corporations, which celebrities, are, as we say, catering to china? reporter: yeah, well stuart today we're taking a look at disney and real heavy hitters in the financial world like jpmorgan, the ceo there, jamie dimon, also nike and the nba but let's start right now with disney, because the wall street journal is reporting today that an episode of the simpsons is missing from the walt disney company streaming platform disney plus in hong kong and that missing episode references
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the tieneman square massacre and includes a reference to the iconic photo in which a man, is not known whether disney removes the episode under pressure or it just decided to remove it when it launched disney plus in hong kong earlier this month, but it is leading to concerns about rising censorship in hong kong, meanwhile, stuart, jpmorgan ceo jamie dimon is being criticized after he apologized twice for remarking that the wall street's largest bank will outlive china's communist party celebrating its 100th anniversary later this year and dimon walked back his comments saying it isn't right to denigrate the country or leadership but some point out that his comments weren't the problem but rather the apology to the communist nation as the bank looks to expand its business there and lastly, there is boston celtics kenter enes kanter. he is on the opposite side of this , stuart, he is calling on
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the international olympic committee to move next years olympic games away from beijing after chinese tennis player, peng shuai tempo irregularitily disappeared following her public accuse all of the former communist party leader of sexual accuse and kanter tweeted that it's time to wake up and speak up all of the gold medals in the world aren't worth selling your moral values and your principles. now, kanter, who, stuart, will become an american citizen later today, has been wearing custom sneakers like these that call out nike, the nba and some of the biggest stars like lebron james for their silence despite the communist parties ongoing human rights abuses but some say all this shows is that the communist party is using economic leverage to invite investment but also command silence from its critics. stuart: that's well-put exactly. i did not know about that simpsons episode, missing from the hong kong archives i didn't know that. reporter: brand new today. stuart: i was surprised disney was down, i thought people
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weren't paying enough attention to the beatles "get back" on disney plus but that's a very good story. that looks like stealing actual property, because they don't like the nature of it. great stuff thanks very much, indeed . kt mcfarland is with us , okay, kt, how should u.s. companies respond to china at times like this? >> the problem with any u.s. company is that they are always going for the profit motive as they should, and the chinese understand that. the chinese know that american corporations will always do what gets them the most money and the highest stock price, and what that tends to mean is they turnover the technology to the chinese partners, the chinese take the technology and turn around and make competitor products, so as a result of that , we're doing a national security, it's an enormous amount of harm. what's the solution to that? i think the u.s. government, i hate to say it but u.s. government needs to have a plan to bring the supply chain home and limit a lot of that
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technology transfer. stuart: are they winning at this moment? trivagos tension between the two sides, rivalry, between the two sides are they winning? >> they certainly are winning psychologically. they are going around the world saying china is the wave of the future and the united states is finished and they have evidence after evidence and including countries & companies around the world are terrified of insulting the chinese president or china and they are self-censoring themselves as a result. do you think they are self- censoring themselves criticizing the united states? not a chance. stuart: do you think we should withdraw from the olympics? >> no, i don't think we should withdraw from the olympics. what i think we should showcase what china has done with its own population during the olympics. so we participate, but then we shine a spotlight on their own civil rights and human rights abuses. stuart: so, should we push our military forward to respond to the threat militarily coming
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from china across the pacific. should we push forward on this? >> what do you mean by push forward. we should increase defense spending and focus on the navy and focus on the critical areas of technology that our military needs, things like artificial intelligence, and satellite defense. china doesn't want to go to war over taiwan. they think, china, taiwan will fall into their laps because taiwan will be so terrified of what china could do and feeling no other country will support them. it's not just a matter of talking tough about china and taiwan. what are we doing? we need to have a massive investment in research and development. we need to make sure that we have the better technology and the superior technology. we're better at doing this than the chinese, so why are we not doing it? stuart: [laughter] there's all kinds of reasons because the democrat party is run by left wing and they don't particularly care for the military and don't worry about the chinese threat i think that's the answer to the question. kt, i hope you had a great thanksgiving, thanks so much for being with us today.
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appreciate it. >> thank you. stuart: the world health organization coming for some criticism for naming the new covid variant omicron. what's the problem? lauren: in naming the variants they use the greek alphabet. they skipped the letters 13 and 14 are new, because it sounds like new, and they thought that be confusing, and then g, because it's a popular last name in china one held by xi-jinping and they wanted to "avoid stigmatizing" a region. senator cruz said it best. he tweets this. if the w. h. o. is this scared of the chinese communist party how can they be trusted to call them out the next time they are trying to cover up a catastrophic global pandemic. stuart: okay nice tweet right there. lauren: the pandemic is political basically. stuart: that's very true thanks, lauren. the president is giving an update on the omicron variant at 11:45 a.m. this morning. you will see it, stay with us,
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dynamite ♪ stuart: well, ac/dc i don't know what to say about that, but oh, that screen is endless, isn't it you're looking at racine, wisconsin, cloudy and 36 degrees , look at the markets look at the dow, up only 56 point, that's astonishing, because they were down 900 on friday, at one point this morning we were up over 300 now it's just a 46 point gain, there's a couple dow stocks which are really hurting, goldman for example, and merck, the covid pill is not effective, particularly, and that's pulling them down and the whole dow industrials with it the nasdaq though up nearly 200. susan is with us again, twitter what's the story? >> right, only up 3.5% remember we saw that 10% jump at the market open, well, twitter shares are now halted for trade, pending news which should make
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it official wall street is anticipating that jack doors it will be stepping down as ceo, and reports say that this has been in the works now, this transition since the last year and the board already settled on dorsey's successor, but remember jack dorsey left the company, came back in 2015 to turn it around after costello stepped away and i want to show you casino shares as well because casino stocks falling after china arrested the head of the largest operator in macau, grabbed in a crackdown over illegal gambling, money laundering and these high roller s and gamblers throughout the various casinos so it's a big problem with these big spend ers aren't being funneled through the doors and bumble, is being upgraded by raymond james and is worth $48 in their view because its become cheap after a 30% drop in recent weeks after disappointing results there. stuart: they do well if there's another lockdown too, bumble?
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>> dating, okay. stuart: thanks, susan see you later. osha's vaccine mandate, for big businesses. it's on hold in the courts, but companies are still bracing for what it could mean, if the courts rule in the vaccine mandate's favor. grady trimble is at a building supply company in wisconsin. grady, if the mandate stay, will costs be pushed down to consumer s? reporter: that certainly is the fear here at drexel building supply, stu. they surveyed their employees and found about half of them would quit if this mandate goes into place, joel fleischman is the president here on top of the hiring challenges that you would face, you have to pay for compliance, have employees making sure you're in compliance or get fined by the government, by osha. i mean, what the would all of this do for consumer costs? >> consumer costs would soar. i think we be out of business. we couldn't sustain that kind of increases in those kind of fines
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and control, i'm not sure we have the staff to be able to. reporter: stu mentioned things are on pause as this works its way through the courts. what are you doing in the meantime because the january 4 t approaching we're about a month away now. >> absolutely, we'll only a month away but we are steadfast to simply hold the line. we're not doing anything. i think it's really important not to do anything right now, just to say hey, this is not a law yet this is not a mandate and we're not putting any effort towards it at all. reporter: if half of your employees do leave and you have to hire hundreds of people, is that even possible right now in the labor environment? how do you handle that? >> no, it wouldn't be possibility would put our entire company at risk, we have grown our business very successfully with a lot of great team and a lot of great clients and i don't know if we would survive. reporter: so stu that's the temperature as we get closer to that deadline with companies bracing for the mandate, whether they are preparing or not it's up to them. stuart: i'd call that dramatic, actually, grady thank you very
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much indeed. i want to bring in tw shannon the ceo of the chickesaw community bank also the former speaker of the oklahoma house of representatives, and possibly a future president of the united states. >> [laughter] stuart: he joins me right now in new york city. if osha wins in court, and there is this vaccine mandate on big companies, overall big picture, what's the impact on the economy >> stuart first of all can i call you stu like everybody else stuart: please do. >> the first thing is it's not just big companies. companies like mine have 140 employees we're subject to the vaccine as well it's not a very big business even where i'm from in oklahoma where i'm a banker but the reality is if they want to do something with the economy we need to fire dr. fauci. this is a guy that's created so much turmoil and uncertainty he is the godfather of these unforgivable vaccine mandates that we see coming down and really frankly, it's medical a partide is what we're seeing. stuart: i take your point entirely but it's highly likely
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that this vaccine mandate on companies over 100 people, it could well happen. >> there's no doubt. stuart: there's nothing you can do about it. >> we're all concerned because right now we're using our extraordinary emergency powers by the executive branch and we need to have a real discussion in this country about are we really still in an emergency but if this vaccine mandate is allow ed to presume with medical companies right now we'll have a devastating effect, because it's going to take up so much brain energy from companies like mine and the people that call them that we rely on and do business with and also, the cost of testing, that all falls on businesses. just imagine if the federal government did the same thing with retirees to get your social security benefit . what type of business would the social security administration have to use to enforce that mandate? it's the same idea with small businesses like chickesaw community bank where i am. stuart: do you know for a fact that your company, chickesaw
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community bank, with 140 people employed, do you know for a fact that x percentage would walk if they have to? >> i'll tell you over a third have already told me but it's not just the number of employees but which employees. some of my top producers called me when this first came out and said we're out of here. we have to get the vaccine mandate we're out of here it goes against, it's not just a religious issue. it's more of a constitutional issue. the government shouldn't be forcing people to put things into their bodies. it's that simple. stuart: okay but when push comes to shove when you actually have to say i'm in or i'm out at other places like united airlines for example,, 99% of the people say okay, they cried uncle and got the vaccine. >> well you know, what we're trying to do is make sure that companies like mine have the option for testing because i think that that is a reasonable step there as well as we see the federal government taking extraordinary measures to say that contracts, just because we're fdic insured some speculate maybe we're considered a contract. i mean it's just so far blown
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from the biden regime and i think there's a lot of challenge s, we already have a worker supply shortage. can you imagine, stu, if half of the worker population decided not to work that's already working right now? it would defer as tate our economy. stuart: tw shannon thank you very much for being here. i can't imagine why you're in new york on a very cold day but there you go. >> we were here for thanksgiving and its been great. stuart: good to see you, sir. now this , a new migrant caravan is indeed marching towards our southern board or . brandon judd, border guy joins us to discuss that in the 11:00 hour. five moderate democrats are reportedly planning to oppose president biden's banking pick, saule omarova. she's not the only nominee getting pushback either we have the full report from capitol hill, next. >> ♪ burning down the house ♪
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>> ♪ stuart: troubles that can't be named, i'm sure that's a program we're looking at the beautiful beach right there, it's north carolina, atlantic, north carolina, sunny and 48 degrees and i wish i was there, it's beautiful. five moderate democrats have reportedly told the white house they will not support saule omarova's nomination for controller of the currency, and what's the latest, hillary? reporter: stuart that's a problem because a lot of republicans or all senate republicans on capitol hill also oppose saule omarova's nomination but the concerns coming from these five democratic senators is enough to sink her nomination and not get her out of the senate banking committee to a confirmation vote on the senate
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floor. those five senators are reportedly senator john tester, mark warner, kyrsten sinema, john hick en looper and mark kelly who all privately voiced their opposition to the nomination but reporter republicans are doing it publicly as well saying one of president biden's picks for top banking regulatory post stated earlier this year she wants fossil fuel companies to go bankrupt and the apparent desire for energy workers to lose their jobs is outrageous but there are other nominees that president biden picked that are also coming under scrutiny one is sec nominee ghighi stone who has reportedly some conservative bias called on the fcc to look at whether one media group sinclair broadcast which is known as a conservative-leaning company is qualified to be a broadcast licensee at all and another pick for the director director of office of management
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and budget shalonda young, that nominee came through last week is coming at a scrutiny for her views on abortion. she has repeatedly tied abortion access to racial justice saying the hide amendment should be limited that is the amendment that bans federal funds from funding abortion with a few exceptions, stuart? stuart: hillary, thank you very much indeed. i want to show the market again, because the dow almost went negative just a few seconds ago it's up 21 points, that's it. please remember, the dow was down over 900 points on friday, and we're expecting a balance at the opening bell today, we got that bounce up 300 but that is dissipated and we're now barely even, actually almost going negative. can you show me the dow 30? just to give a sense of the dow and where it's at? all 30 stocks in the dow, can we get that up there? all right, we're working on it we'll get it up there at any moment now the dow is up 15 points, 34, 900 there you go. look at that, after 900 point
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drop on friday, this monday morning, you still got two-thirds of the dow 30 heading further south and only 1/3 going north. not a good situation i'd say that's not a balance at at all is it and there's a new poll that shows who democrats would pick to run in 2024 if president biden does not. who is in the poll? lauren: it's kamala harris. stuart: really? lauren: it shows harris with 13% support followed by former first lady michelle obama with 10% support, 36% say they were unsure who they would pick if biden doesn't seek re-election, but i was scratching my head at kamala harris, off what president biden does, so if she and michelle obama are the leads for the democratic ticket i think republicans have a good shot. stuart: there's no bench strength. lauren: no. stuart: no depth amongst the democrats. a very thin bench thank you very
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much indeed. no wait a minute there's more for you. pete buttigieg responded criticism about his comments where he said that highways, bridges and highways, were built with racist intentions. what's he saying there? lauren: i think he's doubling down, listen here. >> what we're doing is we are reconnecting people who may have been disconnected or divided by discriminatory decisions in the past. that helps everybody. i don't know why anybody be against reconnecting people who have been divided by discriminatory decisions in the past, and again, the point is not to make america feel guilty. lauren: okay, i don't think many americans ever thought objects were racist like roads and bridges, but a solution might not be spending money to tear them down and rebuild them but maybe start programs, educational programs, to advance certain communities, maybe deal with inflation better, that impacts all communities because things cost more, maybe shift
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your policies instead of tearing , spending money to tear down racist roads. stuart: it costs hundreds of millions of dollars to change a road or change a bridge. hundreds of millions of dollars. you going to do that in the name of racial equity? lauren: and maybe the past it was built to divide some communities but not many people know that now. stuart: no they don't. lauren you're all right thanks forgetting back to us. back to the market because the dow is up 30 points, look at the dow winners, there are a few , and the dow winners headed by goldman sachs, merck, mcdonald's they are dow winners i thought for a moment, s&p winners, marathon so you've got oil companies represented there, and nasdaq winners who we got on that list? we're headed by micron, the chipmakers very well- represented today. matthew mcconaughey, he's made his decision about whether or not to get into politics we'll tell you what that decision is.
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is he running for governor of texas or not we'll tell you. the world health organization warning that the omicron variant poses "a very high risk" and is likely to spread. however one doctor says we can't vaccinate our way out of covid. we need to focus on treatments, that doctor is next. >> ♪ how do you like it, how do you like it ♪ what's strong with me? i know when i'm ready for a rest day. ...so i can be ready for anything... tomorrow.
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stuart: well, it is official. jack dorsey is stepping down as ceo of twitter. the company's board appointed the chief technical officer as dorsey's successor. the stock is still halted, wants to get the news out there last trade was 48.68 up 3.5% at that point. we told you a lot about the vaccine makers preparing new batches of their vaccine to deal with omicron, the variant. dr. condessa joins me now, doctor, can we vaccinate our way out of covid? >> well, you know, to this point, i think not.
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we've had the same vaccines going for quite a while now, and as the variants have come out we've had delta, which the vaccines showed diminishing efficacy too and now we have omicron, which is showing more mutations than even delta did, and i think the current batch of vaccines will show even less effectiveness than they did against delta. stuart: so what should we do about it? >> sure, well, this is going to be a problem going forward because the virus will continue to mutate and evade whatever the vaccine makers throw at us so it becomes an arms race, and we're looking at a continuous line of shots after shots after shots, listen, the vaccine has its places and its been effective at preventing serious illness and death for the most at risk populations but what we have to do is take a more multifactorial approach and look at early treatment and there are things on the horizon coming out from a couple companies, pfizer
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and merck both have drugs coming out. initial data is promising but if drug company data so we take it with a grain of salt but it is promising early on, and there's also some off the shelf drugs that are showing promise too. there's one called fluvoxanine, which is an anti-depressant class of drug, and a lot of other drugs that have shown some promise too, but there maybe other drugs sitting on the shelf that show activity too, and there's been a couple of promising ones out there. stuart: what i hear is that we've really got to learn to live with this , that's the way it's going to be. we have to learn to live with it >> stuart you're exactly right. stuart: one last question if i may. after older people, in their 80 's, for example, after that group, are obese people next- most vulnerable group? >> 100%, i might even say, stuart, that the obesity out ranks the age because i've had elderly patients who were healthy weights do just fine, and i've had younger patients
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who were overweight and obese do worse and i've used the line before, where if you really want to save lives from covid, let's put america on a diet. i'd love to see resources that we used for operation warp speed show people how to live a healthier lifestyle, become a healthy weight. lets get people on a diet. stuart: well i've been on a diet but i broke it over thanksgiving >> you're allowed to do that that's okay. stuart: doctor, thanks for being here, we appreciate it we'll see you again soon. >> thanks for having me. stuart: i don't want to make too much of this but president biden broke his own rules first he was in nantucket over thanksgiving. lauren: it was the cover of the new york post, he went into a souvenir shop with his black mask around his neck, so he didn't have it up covering his nose and mouth and the sign on that shop read clearly, required face covering, and there you see president biden not wearing his the right way. he was briefed over the weekend
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on the threat of omicron and how he would respond to it, and i think that includes wearing a mask indoors. stuart: yes it does. i just don't want to be picky. lauren: he is the most test politician in the world, right? stuart: he should be. thanks lauren good stuff. still ahead, kayleigh mcenany, steve forbes, brandon judd, dr. marc siegel. omicron is a test for the biden presidency and a test for democratic governors too the left has a tendency to go for restrictions and top-town authority telling you what to do i think that would hurt the economy if we do that with omicron, that's my opinion and it's my take and that's next. >> ♪ ♪♪
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your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. >> we have to learn to live with this , so it is too soon, stuart , to draw conclusions. i think it is going to be far worse than the bite. i do think that this news is negative for the recovery, but it's not going to derail it. it's certainly going to dampen it. >> the really interesting thing about lockdowns stuart is they have very little impact on reducesing the spread of the virus. i think this would really rest the economy and the stock market if we saw any kind of lockdowns. >> i haven't seen anything thus far that would warrant a lockdown.
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it looks like this variant emerged in late september or early october. if that's the case it's not spreading all that fast. >> a lot of people are more afraid of how the government is going to handle the variant than they are of the variant themselves. >> ♪ and we're coming, to your city, going to play our guitar and play you a country song ♪ stuart: it is 11:00 eastern time , monday, november 29 it is cyber monday, by the way, the markets, frankly, a little disappointing. the dow industrials dropped 900 points on friday, and already bouncing back 65 points as of right now, after 91 minutes worth of business, that's not great. the nasdaq composite though coming back nicely. twitter has, i think is that the right quote, yes, it has reopened and its opened up 4% as we speak, just about $49 a share. it is official, ceo jack dorsey
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is stepping down as chief executive officer of twitter, of course. he'll remain on the board. the company's chief technology officer will take over as ceo. i'll show you bitcoin, strong gain backup above $57,000 per coin, now this. omicron is a test of the bid en presidency. it's a best for democratic governors too within the party there's a tendency to go for restrictions, top-down authority, do this do that that claim that keeps us safe. well what now? omicron has arrived and it's spreading, what is our response? dr. fauci will not rule out new lockdowns, he's saying without hard knowledge, we must prepare for the worst. the governor of new york has declared a state of emergency, elective surgery in the state has been curtailed. the president has said many times he will follow the science , if that means new restrictions on travel, or the workplace, or social
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gatherings, that will hurt the economy, when we're dealing with inflation a labor shortage and supply chain problems, that would not be good. he's already stopped travel from eight southern african countries and that has sent a chill through the international travel business, at 11:45 eastern this morning 45 minutes from now the president will make a statement. he will tell the country what his administration will do about omicron. faced with a series of crisis of his own making, he's going to have to tell us what he's doing. this is an opportunity for this president to lead. kayleigh mcenany joins me right now. all right, a test of the presidency, opportunity to lead. what do you think he'll do with it? >> yes, i think hing squander it, i help he doesn't but i think he will. democrats have a tendency to go the more restrictive route and i can tell you i went into the administration amid a lockdown with president trump, and there was no one itching to get out of that lockdown more than then-president trump because he realized the economic repercussions as a businessman, and also we've learned through
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march 2020 and beyond the health repercussions, the missed cancer diagnosis, the kids not in schools, the abuse not reported typically reported in schools. there are trick en down effects devastating. this is not march of 2020 we're in a different place and i hope president biden understands that stuart: i don't think the country it is in any mood to reintroduce any kind of mandate or you have to wear a mask and do this. i don't think that's the mood of the country so i don't know how the president is going to respond to that. >> interestingly in polling before the vaccine mandate came it showed to be very popular, now that it's here, the latest polling i saw is unpopular by 4% and that's a vaccine mandate. think of how much more popular a lockdown be but this president told us no vaccine mandate and do a total 180 vaccine mandate, he told us no lockdowns here it could be a 180 he needs to emphasize i mean what i say no lockdowns. stuart: there's a chronic contradiction here. you want to come to america
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today, you've got to be vaccinated and you got to be tested, unless, of course you just walk across our southern border. no vaccination, no test, no check, you walk in. i don't see how you could keep doing it. at a time when you've got this new variant coming on how can you have this contradiction between everybody else and our southern borders open? >> yeah, and two-year-olds, by the way, wear a mask when you get on the plane but feel free to walk across the border without a vaccine total contradiction in messaging and one the american people won't stand far and there's a backlash ing against this presidency and if he doesn't reverse course and have common sense in how he governs he's going to be in trouble, like delaying the travel ban until monday, what's the common sense there as if corona virus takes a holiday break. stuart: last one in the unlikely event you were advisor to president biden. >> very unlikely. stuart: entirely unlikely but what advice would you give him, tell him to say this morning? >> i would tell him do not
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lockdown this country. it's necessary in march of 2020 not today and look there's going to be a lot of pressure you heard on him, you heard dr. fauci say we're not there yet, but maybe and paraphrasing dr. fauci there, but don't listen to that. there maybe a temptation from the public health officials because some economic advisors in the room as well. stuart: oh, yes, please. i think you regard this program at 11:00 in the morning as a warm-up for your performance at 12 noon on the show, it's really called "out numbered." i rely you to sharpen my numbers on out numbered. thanks, sue art. stuart: senator, elizabeth warren, wait for it, blaming big poultry for the rise in turkey prices called for the justice department to open an investigation right now. steve forbes is with me. does the good senator really believe people are going to buy that excuse for inflation? is the turkey producers that did it? >> that's right, i think they are going to tell her to cluck off on that one.
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stuart: oh, okay. >> it's monday. but, it's part of a scapegoating you see with the energy industry , you see with plants a few weeks ago, goes back to roman times when they had inflation they blamed the christians and medieval times they blame the witches so this has a long ugly history and it covers up whose really to blame. it's the federal reserve and the federal government mucking up the supply chains, and they need to recover and they stand in the way, especially in the energy area. we have unbelievable specatacle of saying that a russian barrel of oil is less harmful for climate change than an american barrel of oil. it's absurd, but that's what they are doing. stuart: i just don't know how people can buy that sort of stuff. i'm sure you're familiar with mohammed el arian. a very well known financial pundit. he said on sunday that the federal reserve should recognize that inflation is not transitory. watch this , steve, roll tape. >> the marketplace is worried about two things. one, that yet another variant of
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covid is going to hit them hard and issue number two, the marketplace is worried also this will cause more inflation. inflation is not transitory, and it's really important for the fed to realize this. stuart: so what do you think? i mean, do you think that inflation is transitory? i notice that energy price inflation is actually moderating right now, gas is coming down a little bit, oil is down a little bit, what do you think? >> well, there are two parts of inflation. one is supply chain, the disruption that came from covid, which this administration is doing its best to stand in the way of recovering from that, and then there's monetary inflation where you reduce the value of the dollar and print too much money an that hits us in 2022 and 2023, the federal reserve is already sitting on $1.5 trillion of money created now borrowing it back from the banks overnight how long they continue that game i don't know. they are still creating over $100 billion of extra money when
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they know the economy has plenty of liquidity overall so this is going to be bad stuff next year and the year after when that breaks through and hits the economy. we had it in the 1970s i almost remember when we went through that had you stagnation. stagnating economy, because of all of the things the government is doing to stand in the way of a full recovery and also a cheap dollar which led to rising prices so we'll get the worst of both world's if these people, these policy makers as they call them, keep it up. stop it, stop the money printing that be a good thing for the federal reserve, powell has his reappointment, stop it. stuart: when they do that, the moment they do that when they stop printing money, you know what happens. we get a recession. that, i'm sure, that would happen. that's the only, the way central banks control inflation. you create a recession. >> well and that's what's so dangerous. the only way they know how to control inflation is to create unemployment and trash the economy. they could do it by stabilizing the dollar and inflation would go away, but they had the
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strange belief that the only way to conquer inflation is trashing the economy, prosperity to think causes inflation that's why the fed is going to be in a tough place because people aren't going to stand for a recession induced by the mistakes of the federal reserve. stuart: got it steve forbes great stuff today. hope you had a wonderful thanksgiving, and we'll see you again soon. >> i did and hope you did too, thank you. stuart: i did actually. lauren, you've got the movers? lauren: i do. stuart: walmart is down. lauren: the cfo has been cfo since 2015 he's stepping down next year. he helped walmart oversee some big changes, sending all competition from amazon with over 22 years he's been with the company, by the way, walmart will virtually meet with president biden today among many retail ceo's that are actually visiting the white house to talk about the holiday season. stuart: oh, is it the supply chain crisis? because the president will address the supply chain crisis this afternoon, in a separate statement from covid this morning. lauren: as it affects the
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holiday season how to keep their shelves stocked. stuart: what do we have on tesla i saw the stock up earlier, nice 5%. lauren: it was number two on the s&p 500 at last check so there's a report that elon musk e-mailed his workers one of his everybody e-mails and urged them to minimize their delivery costs , rather than expediting them to hit the end of the quarter goals, so i guess he wants to bring down the cost of production to that point, there's a german report that the factory there has what's called a gigapress, and it's almost operational, and it manufactures the chassis in just one or two pieces. stuart: it's a big move for tesla, $1,136 per share. ebay, let's see what do we got there, the stock down 2.6? lauren: they acquired a sneaker authentication company, sneaker con digital selling a lot of sneakers about 2 million available each day, and they go for high prices if you can
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authenticate them so acquiring this company, don't know the price tag but probably why ebay is down, helps them to, sneakers are big business and if you know you're spending a lot of money on authentic pair of sneakers -- stuart: who would have thought it be in the day when you had to authenticate sneakers and sell them for a high price. brand new to me. by the way, do you know matthew mcconaughey, he's made his decision, is he running for governor? i think we'll take a commercial break and you'll find out after the break. i think that's how we'll do it. now, later this hour, president biden gives an update on the new covid variant. we'll bring that to you as it happens, going to be very important statement and a new migrant caravan inching towards our southern border comes as the white house reportedly considers reinstating president trump's remain in mexico policy. live report on that, coming up from the border, next. >> ♪
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stuart: we got another terrible story from the border for you. a group of more than 100 migrants early sunday morning stopped at the border, casey stiegel is there. i understand there was an abandoned two-year-old in that group? >> that's right stuart in fact this was still on the mexico side, the migrants had told border patrol officials that there was a two or three- year-old little boy that was all by himself, abandoned by smugglers by the river, so those migrants then brought that child across into the united states and the child is doing
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okay at this point. you know, really, it's just another day, same story down here, along the southern border, with really no signs of this relentless number of migrants crossing the southern border illegally, not slowing. this is one of the hotspots that we have been from all this time, in lajoya texas not far from mcallen and earlier this morning there was a mist as we were driving in and we saw a group of 15-20 people detained a short time after that another 30 or so taken into custody. as we've been telling you this is a 24 hour a day operation, day and night, scores of migrants across the rio grande river, coming across into the united states, as you know the river is the international border for much of texas, and this has also been ground zero for this year's surge. we also have those constant reminders of the humanitarian component of this like that child found abandoned by smuggl ers. we've also been talking about
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the runners as well. those who try and evade law enforcement, maybe they aren't coming in seeking asylum, well our cameras caught at least two of those so-called runners over the weekend, and they were eventually apprehended by agents and officials say it's hard to judge how many get away successfully, they are pretty good at tracking them down, but some do slip through the cracks that data is hard to measure and all of this , of course on the heels of some word last week that leaked this week, the white house could announce plans to reinstate former president trump 's remain in mexico policy, it's a policy that president biden's administration has tried to dismantle a number of times throughout this crisis, however, word we could get some information this week about the white house, in fact, reinstating that, after a judge ordered them to do so. so, to be continued down here on the border. stuart: got it, thank you very much indeed.
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now there is a new caravan which includes hundreds of migrants, it is now heading towards our southern border. brandon judd is with us he's the president of the national border patrol council. brandon, it seems like there's always a new caravan forming. if you had some power in this , how would you stop it? >> the first thing that i would do is go right back to what your reporter just said. i would re-implement the migrant protection protocol. there's very few things that a government can do that has an immediate impact but the migrant protection protocol did have that impact that was like a light switch. the moment president trump implemented that program, the number of illegal immigrants that crossed the border illegally went down exponential ly that's the one thing we can do to help our agents, like myself, to control the border, control the flow of those people that come across the border illegally but it also goes beyond just the people crossing the border illegally. it also, when those numbers go down it allows us to go after
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the cartels, it allows us to go after the criminal it to go after all of the profits of these cartels making and when we can do that we can truly have a secure border. we can't do that as long as these migrant, as long as these caravans continue to form and continue to come up to the borders. we're arresting the equivalent of a caravan every single day, between five to 7,000 people we're arresting every single day stuart: now, if the remain in mexico policy is not reinstated, what happens when these caravans arrive at our border? they come in without no vaccination, no testing, they're in and they stay. is that what happens? >> it is, and that's the scary part. the moment these people cross the border illegally and claim asylum they're released into the united states. they are released without any testing, to ensure they don't have the covid and all the variants thereof, but we also send them throughout the
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entire united states, you know, all the way from omaha, nebraska to des moines, iowa to miami, florida everywhere throughout the united states is where these people are going. when you look at the numbers that's what's scary about all of this right now, when you look at the numbers back in 2021 we released over 600,000 people into the united states that crossed our borders illegally and on top of that we had 400,000 people that were able to evade apprehension and got away. we added over 1 million illegal immigrants to our population in 2021 alone and right now, two months into 2022, we're already on pace to shatter those already -high records, so yeah, the situation is very scary and if this administration doesn't do something, we're going to continue to see these numbers grow. stuart: i wish we could find out what happened to that poor little two-year-old boy abandoned oned by the smugglers by the side of a river i'd love to find out, but brandon thanks for being with us today keep on pressing we'll see you again
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real soon, thank you, sir. actor matthew mcconaughey has outlined his political future, let's get to this is he running for governor or not? lauren: no he's not even though polls show him ahead of both governor greg abbott and beto o'rourke here is matthew mcconaughey in his own words. >> as a simple kid born in a little town in texas it never occurred to me i'd one day be considered for political leadership, it's a humbling and inspiring path to ponder. it is also a path that i'm choosing not to take at this moment. lauren: instead he's going to use his fortune to support entrepreneurs, businesses, foundations, i thought he was going to run, i did. stuart: i would like to see him run. lauren: he carts out the mid eel path and that appeals to a lot of people. stuart: it does. amc and sony, they are going to give away three nft's i don't see the point of this , what's the point, gaining value? lauren: in my opinion, it's to
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gauge how many people want to actually own digital collectibles, and i think it's an experiment, i go as far as calling it a gimmick, but i don't think amc or sony plan to use this as a way to increase ticket sales, but this is how it works. if you advance order, you buy a spiderman ticket at amc online, pre-orders started to, you then get a chance to win 86,000 nft's so what happens is the companies will send you a code, you redeem that code through a special website and you get one of 100 different designs. stuart: it's a marketing tool. lauren: a gimmick. stuart: i thought they were giving away investments, nonsense, that's what it's all about. check those markets please. i've got to say it's a disappointing come back for the dow, down 900, up this morning, a mere 99 points but the nasdaq, now that's going strong, 219 points higher. have a look at big tech please, previously it was up all across-the-board and it still is apple is at 159, amazon $3,569,
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meta, as in facebook up dollar 4, microsoft at 336 that's up 679 a rally in big tech. president biden will give an update on the new covid variant add addressing the nation. shoppers expected to spend 11 billion on this cyber monday, that's today, next we'll take you to an amazon warehouse where workers are in over drove. they really want to deliver those gifts in time for christmas. >> ♪ my retirement plan with voya keeps me moving forward.
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>> ♪ lauren: look at you. stuart: i like the rhythm of this particular song, i never heard it before. you've heard it? lauren: yes. stuart: well you're young. take a look at chicago, it's 36 degrees but then again, it's november 29 and that's the windy city. susan is with us. now, we've got to update twitter
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because we opened. what's the latest? >> the latest is just in terms of who stepped in also you have jack dorsey tweeting out his statement saying it's official, he resigned as ceo, it was his decision to leave, so the board has chosen the chief technology officer agarwal to step in as ceo effective immediately today, and you had really unhappy investors including silverlake partners calling for a new ceo with twitter's underperformance compared to other social media companies, for instance twitter is down 13% this year compared to facebook, which is up 20% and there's a big difference and wide divide with facebook of 2 billion monthly active users compared to twitters 200 million so investors say we need somebody that's focused on twitter not somebody that's the ceo of two companies. stuart: they got the guy out. >> he resigned. stuart: now it's up a mere .7%. >> don't you find it
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interesting also the ceo they brought in a technology expert, somebody that's maybe more focused on ai, someone that maybe is transformational in terms of where the platform goes it's not just social media it could be payments, it could be cryptocurrencies. stuart: i was never very keen on jack dorsey for his politics but i guess investors aren't either. >> he's not that keen on twitter, so he says i'm going to step away and why take out the headaches when i can focus on a company that makes me more wealthy. stuart: put donald trump back on twitter and be reasonable for god's sake. big tech rallying. >> yeah, so apple is leading the big tech rally along with microsoft so apple is getting a target price hike from hsbc, but really dip buying look at microsoft, nvidia, also amazon there as well, amazon says they are unsure right now about omicron's impact on spending, but if you have adobe analytics predicting $200 billion to be spent online, from november
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through december, that means that and you know that amazon controls about 50% of the e-commerce market so they are going to get 100 billion of that it's a great thing for the bottom line. stuart: gigantic, susan thank you very much indeed. shoppers are expected to spend, we get these surveys, more than $11 billion on this , cyber monday, which is today, by the way. well connell mcshane is at an amazon facility in jersey. what are they doing to make sure people get their stuff for christmas? connell: that's the big thing, stuart, they said they are preparing, actually stocking up on a lot of items so they have them here before you order them, this way they can deliver them on time, amazon says i'll explain quickly how the process works. this is a stow station at the fulfillment center where you combine the human with the robot man in a blue right so he grabs out an item you haven't ordered yet and put it in these pods. those are operated by robots taken to the other side of the
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facility. now, what i just said a moment ago, you haven't ordered these items yet so amazon kind of predicting what people might want, they have them here, in new jersey, so that stuary varney, north jersey says i want to get , you know, this box of coffee that was here a minute ago. we're going to have it so you order it we'll deliver it that's the logistics. we talked to amazon earlier about whether they are experiencing problems and finding humans like this like some of the other companies are with hiring. they aren't completely immune. take a listen. >> we have had some challenges there, but just this week alone, we started 45,000 employees across the united states, so we are confident that we're able to get those people, people want to work here, and we offer some really great paying benefits for them. connell: they are paying them $ 18 an hour i believe on average , brought in 150,000 seasonal workers so amazon has been able to hire even though as you heard it has been somewhat challenging but that's
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how they are doing it stuart and even if you order late say on december 22 they will get you your present on time because they have stocked up on the items they have them in fulfillment centers already. stuart: yes, we'll see that sounds very reassuring connell, good stuff thank you, sir, see you again real soon. back to the markets, please. as i said, i think that's rather disappointing balance for the dow industrials, down 900 on friday, backup just 97 as of right now, but let's bring in greg smith, now greg has got an unusual idea here. greg smith says that clothes will be the most popular holiday item this year, now make your case for clothes and tell me why it's not electronics. >> hey, good morning, stuart and happy cyber monday. look i'm very surprised if you have any viewers today as i would think most americans are glued to their devices looking for the best bargains to be had online, but the fact is, and the reality is, americans are back, the consumer is here, they
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are shopping, spending money like mad, i would not be dismay ed by the lackluster performance of black friday and the results we saw came out of black friday because simply, that was a single day shopping event that's now been stretched into multi-days or even multi- weeks and started significantly earlier this year, but this year, i think, apparel and accessories are really going to win the day followed by electronics. everyone wants to look good as they get back to the office as they begin more domestic travel, probably not international travel, after friday's news, and to look good for their swipe right and swipe left profiles online, so i think we're going to see apparel win the day. stuart: which companies benefit most, if clothing and apparel are indeed the big sellers? >> well, i actually made my first retail purchase on friday of a stock. it's always good to have a shopping list coming into a bad day like we saw on friday, but i'm going to coin some new terminology i bought my first
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smash-and-grab stock, nordstroms as a trade on friday, we have the mayors of new york and san francisco to thank for that, but a nice smash-and-grab stock nordstroms i picked up they should benefit by clothing and accessories as people are shopping, and again, i'm not disappointed by friday, i think the results we see of what's going to come in for people shopping online going into the end of the holiday season, will surprise everybody, and the results will be very strong. stuart: okay, apple going to do well, last one, roll fast. >> look, big tech continues to make new highs. the devices are great, most people they don't realize they need a new device until they buy the new device and then scratch ing their head why they have it sooner, so we did see apple breakout hads to new highs and back in may i continue to be a bull on the markets you just hold on to your positions in may you and i coined, we said buy in may and stay. i continue to think the markets will work higher, friday is an anomaly we'll deal with covid, it's here to stay get your vaccines but i think we
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can see new highs in the dow and the s&p coming year-end. stuart: all right we'll see about that but you're on tape saying it and we'll roll it back at you one of these days greg smith. >> i've said it multiple times here before. stuart: we'll see you later thanks a lot, man. the world health organization warning that the omicron variant poses "a very high risk" and is likely to spread. dr. marc siegel lays out the risks in a moment, the u.s. restricting travel from south africa and very soon, president biden will address the nation on the new variant. much more "varney", just ahead. >> ♪
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stuart: that is hartsfield jackson international airport in atlanta the country's busiest and meanwhile the tsa hit a new post-pandemic record, more than 2.4 million people boarded plane s on sunday. that's the most since the pandemic. all that travel, you could see some slow down, because of new international travel restrictions, which are now taking effect, on your screen, for example. kelly o'grady is at lax los angeles international airport, so kelly what's the latest from there? reporter: yeah, well stuart, you have groups arguing that this is only going to cause more fear. the international air trade association which represents 290 airlines that equates to roughly 83% of travel is saying governments are responding in emergency mode and the travel restrictions aren't a long term solution to covid variant. now even though experts are saying there's too little research to panic, concern is growing, the u.s. is restricting travel from south africa and seven other african nations
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beginning today, a number of countries are following suit and a particularly tough move israel , japan, they are all banning entry to foreigners. we chatted with travelers to get their thoughts on the ban. >> if we could stop it just for a little while, not forever, i think we should. >> i've not been really worried about it. i'm happy to get our life back. reporter: now on the airline front as you said travel is near ing pre-pandemic levels and the industry hopes to keep that momentum going, delta, united are the only two airlines with direct flights from the u.s. to south africa they will not be modifying their routes but airline stocks across-the-board are down as you can see as more countries report cases and u.s. health officials suggest the variant may already be in the u.s.. we are waiting for the president to give remarks on the omicron situation in the next few minutes but as you can see here, lax is filled with travelers and in talking to folks there's this exhaustion over variant one
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after another and the theme was they just want to get back to normal so it's unclear if americans are going to accept more travel restrictions if they are am coming in the future. stuart: kelly understood let me just update this statement to the nation which the president was supposed to be giving two minutes from now, at 11:45. he's running late. he was scheduled to address the nation at 11:45, the pool, that's the group of camera people who get together to shoot this thing, they are supposed to assemble at 11:30, they haven't even assembled yet so the president is going to be very late got that. dr. siegel joins me, the south african doctor, who first identified the variant, says patients have extremely mild symptoms, so, dr. siegel how serious a threat is this? >> well, you know, stuart, we don't know yet and not knowing breeds fear and fear is what drove down the markets friday, but by the way the markets are recovering because investors are a lot smarter than the media and
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politicians panicking everyone, right and your point is right, which is early signs are that though this is quite contagious, and it's actually found in the sewer water in south africa in high amount, it seems to be quite contagious. it doesn't seem to be that severe, maybe quite a lot less severe than previous iterations including delta. that's a very positive sign, so naturally, the markets have rallied today and moderna is up, by the way, not surprisingly, because they are working on a booster, ahead of everybody else but i think that we've gotten way ahead of ourselves with this and the travel restrictions are like stuart, imagine this. sick horses escape from a barn and then you quarantine the barn , after the fact. a lot of good that's going to do when this is already spread. stuart: the president is under pressure to do something. you see this threat approaching, a politician has to do something , i simply hope that when he does finally appear he's not going to incorporate some kind of new restrictions, new
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mandates. you'd go along with that right? you don't want to see that. >> yeah, and you know, he always says, stuart this is spot on what you're saying. he always says he's led by the science but i've seen a lot of leading by politics and i don't like it. there's no reason to superimpose any kind of restrictions for a hypothetical threat right now that literally was just locally in south africa with 2,000 cases a day or less, and we're not seeing it around the world at this point, just isolated cases. we've got to track it and figure it out, where is it? is it another delta or is it another beta, which came from south africa and just disappeared, so there's no reason for any restrictions whatsoever right now and the travel restrictions that are in place are likely to be very ineffective. stuart: just let me sum this up. i probably a majority of our viewers have been fully vaccinated so basically you're saying you don't really have to worry about omicron at this moment. correct? >> correct. i would add, if you're not fully vaccinated, now is the time to
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do it. get a booster if you haven't got gotten a booster because i want you to be fully protected if worse case scenario occurs with omicron but i specifically said, worse case scenario, not knowing leads to fear and everybody jumps to conclusions that are not likely to be the case. stuart: dr. siegel a very timely piecer today thank you very much for being here, we will see you again soon, thank you. >> thank you, stuart. stuart: show me the dow 30 please get a good sense of the market. we've gone backup again, the dow is now up 184 points, and, is what? it's about two-thirds of the dow 30 are in the green, they are up one-third, down, mixed picture. president biden has repeatedly promised to shutdown covid. watch this. >> i'm going to shutdown the virus. i'm not going to shutdown the economy. i'm going to shutdown the virus. stuart: okay. he's 10 months into his presidency and we just got hit with a new variant, brent bozel takes that on, next.
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stuart: in a few minutes president biden will hold, he will address the nation on the new covid variant, when it happens, we'll bring it to you, we do understand that vice president harris and dr. fauci will be with him when he makes his presentation, and the moment he's late, but we expect him to be on his way shortly. do you remember when president biden repeatedly promised to shutdown covid? roll tape. >> i'm not going to shutdown the economy. i'm not going to shutdown the country. i'm going to shutdown the virus. i've said before, i'm not going to shutdown the economy. once we shutdown the virus and deliver economic relief to workers and businesses, then we can start to build back better than before. stuart: well look whose here now , the man himself, brent boze l. does omicron pose a threat for the democrats in the 2022 elections? >> i think everything that's going on right now poses a threat to them, because this
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administration doesn't know , it's being blatantly dishonest and this is the same man who you just rolled the tape where he promises to end the pandemic. he's the same guy who said that a $3.5 trillion bill didn't cost anything. they are capable of saying anything that they believe will get them elected. nothing is going to stop this pandemic from the standpoint that it is going to continue to morph. we all know this probably for the rest of our lives and joe biden is not going to stop it. this idea of this press conference coming up by the way stuart i had a visual of him in the middle and fauci on one side and harris on the other and you got the three stooges. stuart: terrible thing to say that but interesting. is the white house feeling the effects of covid fatigue? what i mean by that is i was out and about over thanksgiving and i saw people behaving very normally. large groups of people shopping, eating dinner, et cetera.
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no mood at all for new mandates or new restrictions. i think the white house knows that and they are going to be very reluctant to impose any new restrictions on it. what say you? >> well you know, i had 26 people in my house for thanksgiving. in the last week, three different people have told me how they walk through airports without their masks on, just simply not giving a darn anymore , and nobody said anything to them. the idea that the president is going to do something or the idea that this all these mandates aren't causing harm is pure popycock. the reason he's saying he's not going to do any kind of mandate giving this new variant is because he knows mandates just don't work. stuart: i've just got a few seconds to talk about your book. i want to get it in. it's coming out on december 7,
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and it's called "starts along the way, a catholic soul, a conservative heart, an irish temper and a love of life." is there anything else you'd like to tell me about it? >> well, you know, it's a completely different book, and here it is, bozellbook.com, it's about stories, they're all true, stories such as a story about a man whose most responsible for the economic, the reagan economic recovery program, and 99% of your audience has never heard of them. stuart: who is it? >> stories like, you gotta buy the book. terry dolan of the national conservative political action committee. the story of this man's life. now a whole series of stories is perfect christmas reading. stuart: okay, send me a free copy and i'll figure it out. >> you know i will.
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stuart: you're all right, thanks for joining us. great to see you. just in time the monday trivia question, how many hours are in a day on venus? google it, we've got the answer after this. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com ♪ ♪ traveling has always been our passion, even with his parkinson's. but then he started seeing things that weren't there and believing things that weren't true. that worried us. during the course of their disease,
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around 50% of people with parkinson's may experience hallucinations or delusions. and these symptoms can get worse over time. nuplazid is the only approved medicine prescribed to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the common side effects are swelling of the arms and legs and confusion. now this is something we want to see. don't wait. ask your healthcare provider about nuplazid. ♪ ♪ hey i'm joe montana. when you get to be our age, you have little patience don't wait. for nonsense and inefficiency. after years of practice you become a pro at pretty much everything. so when i qualified for medicare, i got wellcare. they're pros at making things streamlined,
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and prescription delivery, an over-the-counter allowance that you can use on things like toothpaste, cold remedies, and mouthwash, a flex card to use for your extra dental, vision, and hearing expenses, giveback plans that put money back into your social security check, and the ability to speak to a doctor from the safety and comfort of your own home with virtual visits. call for a free wellcare guide today. or visit our website at enrollwellcare.com. that's enrollwellcare.com. ♪ ♪ wellcare. it's medicare done well. stuart: our producer comes up with these questions and i think they're really good.
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they're all over the place. who would've thought how many hours are in a day on venus. >> i said 826 because it was the lowest speed when i said number four, 5832. look at that, 243 earth days because it's much slower than the earth in the opposite direction, it goes clockwise, and venus the sunrises and it sets in the east. you have all that david asman? >> welcome to cavuto "coast to coast". i am david asman and for neil cavuto. we have a jampacked two hours as markets look to recover some from friday's national selloff. president biden is just about to address the nation as it doesn't countries have reported cases of the omicron covid variant. will bring his remarks as well and wall street ceos to g

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