tv Varney Company FOX Business December 2, 2021 9:00am-12:00pm EST
months for growth stocks and major averages pooling in a little bit. i hope what we are dealing with is not so strong. the fed has interesting timing. let's get rid of transitory. it goes back and forth a little bit. it is fundamentally stronger. maria: great to be with you. "varney and company" begins now. david asman in for stewart. dave: the first confirmed case of the omicron variant has been detected in california. what now? more restrictions? masks everywhere once again? we will find out a couple hours from now, president biden is expected to tighten travel including requiring a negative covid test today prior to travel. he could announce new rules on quarantine requirements.
markets immediately selling off after the first case was confirmed yesterday but today bouncing back. the dow and the s&p in the green but the nasdaq is trading now in premarket activity. omicron hitting oil, down $10 in a week. opec is meeting right now, they just started. will they open the spigots like the president wants them to? it is unlikely but we will know in a few hours. take a look at bitcoin dropping below 57,000, for the moment very volatile. more bad news for vice president kamala harris. her top advisor is resigning. simone sanders is the second stop aid to resign in a month. harris's approval rating stands at 28%. a big show for 3 hours. sean duffy, senator marsha
blackburn, dan heninger, thursday december 7th, 2021. "varney and company" is about to begin. couldn't tell if it was temptations? san fran or the omicron in the united states at least that we know of. the first case of the omicron variant, lauren, as you say, is in san francisco and san francisco is known for all the mask mandate and vaccine mandates. >> what do we know about this patient in california?
he or she, has not received the booster, 6 months of not passed after the second jab. newly vaccinated. that the overhang with all of this. on the dow, do investors want to know, do the vaccine, the boosters hold up against this variance, this person has returned from south africa, november 2, '02, making omicron 10 days, none of the close contacts tested positive. >> the white house will announce travel restrictions for americans in response to omicron but doctor fauci dodged questions whether illegal immigrants for the same standards for american citizens. role tape. >> the possibility of new testing requirements for people coming into the country. does that include everybody?
>> the answer is yes. >> what about people who don't take a plan, border crossers coming in huge numbers. >> there is testing on the border under certain circumstances. dave: what do you make of this? >> they are testing under certain circumstances. what does that mean? if you think this is a public christ health -- i am fine with that but shouldn't we test everybody that comes into the country including illegal immigrants? not that hard, billions of dollars fauci controls, i disagree with the policy of letting everybody in but if you're going to let them and test them and that is why so many americans think government science is garbage which is why democrats are frustrated, president biden is frustrated
people are not getting vaccinated. 20% of adults that haven't been vaccinated because they don't trust the government because of stupid policies like this that don't make sense. dave: you used a phrase if you don't mind a 2 bit word which is an oxymoron, use the government science. you have doctor fauci, for guy who claimed that he was science incarnate essentially the other day, he said i represent science, this is another example how science is not leading these policies, policies are led by politics, clear and simple. >> it truly is. public health is based on trust. you want to trust the people giving the best information and if you don't trust those who give you the information you don't follow it and that is bad for america and fauci instead of playing politics at the border just be honest, do your job as the lead government scientists in regard to the virus spread. dave: he would have to admit there are tremendous contradictions in their policy. he's not going to do that.
>> first time peter doocy asked everybody's going to get tested and then follows up and you might get tested at the southern border. not everybody is being tested. if he puts a quarantine in place for those who come back to the country that will shut down travel. if you have to quarantine 5 or 7 days no one is going to leave the country because that will have a huge economic impact on people who want to see other people around the world and do business. dave: another thing that happened not directly on the covid front but the president reiterated claims that the supply chain is in good shape for the holidays. >> president biden: the ceos i met with reported their inventories are up the shelves are well-stocked and they are ready to meet consumer demand for the holidays. i've also spoken with ceos of ups and fedex which are on
track to deliver more packages than ever. i can't promise that every person will get every gift they want on time. only santa claus can keep that promise. but we are heading into a holiday season on strong shape. dave: if anybody is worried about holiday gifts it is a man with 9 children like you and rachel. are you getting all the gifts you need for those nine kids? >> a late shopper is the problem. ever decides bar harbor easily? some delicious i jacking prices up by $5,000, $7,000 a car because there are not enough cars. you want to buy any tv? across the spectrum we have supply chain issues. no one believes president biden. oliphants across america better start early unlikely duffys to make sure gifts are coming in. if you are a late supper you will have trouble. dave: it all gets back to the issue of credibility.
the credibility of this administration has sunk so low i don't think there's anything they can say that people would believe. >> if you were honest, supply chain issues, trying to work it out, there will be some problems would go early and you will be fine but when he says something we all know isn't true because if you've been to stores across the country you know there is a supply chain issue, the shelves are not stocked and so people go that doesn't meet my lion eyes, i'm seeing something else and as a consumer in america that's not what is happening so again, to your point it goes to his credibility but also, no one trust to them, they believe -- dave: thank you for being here, mister rachel and those 9 kids of yours. good luck christmas shopping. let's check the futures and bring in michael, you as a lot of fans of yours know, we saw a
huge turnaround in the markets after omicron news. what speaks the markets more? getting to the point, is that the virus itself or the government's reaction to the virus? >> i think any selloff related to covid shutdowns or covid related issues are overdone, the threat comes from jerome powell but i don't think he will get overly aggressive. as sean duffy mention none of these policies are based in science if they are only applied to certain people. this is all for optics because the biden administration is flailing in the polls and this administration has turned into a dumpster fire. dave: if we go so far as to have quarantines or lockdowns which some people are suggesting, you've seen the new
york governor try to cancel elective surgeries far before the science suggested that was necessary, these knee-jerk reactions by public officials doesn't that spook the markets? >> that in my mind creates buying opportunity. none of these measures are based on any kind of science. dave: economic effects. >> they can in certain circumstances but i don't see it being -- the history of these viruses is they want to live forever so they become more contagious but less deadly and everything we see across the world this variant is following that routine. it will be hard to keep up and lockdown states. maybe they want to have these quarantines, don't know if they have legal authority to enforce that. i am a buyer. dave: what are you buying?
>> the nasdaq sold off hard yesterday, you want to step in and buy your favorite tech names. nvidia is down 10% and this slow supply chains down further, the benefit to them because they are dealing with extended back log, or the s&p 500, golden opportunity, wall of cash on the sideline, $4 trillion in cash, $1 trillion of announced buybacks. always best to buy when it is ugliest and the most fear. dave: to michael's point, it is getting uglier. look like we are starting in a good way, the s&p futures just momentarily went in the red back slightly in the green, but
again, it is going to be a wild day. it will stick with us throughout the morning. what i school science teacher was caught on tape going on an anti-police rant over the kyle rittenhouse trial. >> he ran toward the police and they waved him through. dave: during a high school science class. the journalist who obtained the tape. one day after banning all international flights, japan is now reversing course entirely, 180 degrees, coming next.
first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to.
tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. dave: you are looking at the pocomoke river in the snowy hills of maryland. not much snow, new travel restrictions about to take effect as the first case of omicron detected in the united states. how badly could this hurt holiday travel? comes at a horrible time. >> this could deter travelers with new logistical challenges.
it does feel like one thing after another. the biden administration is expected to announce these restrictions later today. the biggest change is expected, travelers coming into the country including returning americans must tests within 24 hours regardless of vaccination status or country of departure. one concern is whether all countries and airports abroad will have the infrastructure to handle the turnaround finance testing increases with the spread of omicron. they dispose names and content for travelers who visited under the travel ban. the airline industry distantly tries to recover critics question why the rush to implement new limitations when so little is known about omicron. >> in the matter of two weeks or 2 and a half or 3 weeks we
will know about transmissibility, and what is the difference who is vaccinated, we will get that information. >> the washington post reported post arrival testing as well as self quarantine, was being discussed. senior administration officials won't be doing that at the time. fear is growing among americans as you head into the holiday travel season. dave: a lot of americans are getting skeptical about the panicky response. japan is rolling back restrictions for incoming travelers. >> tokyo reversed its decision to require airlines stop taking new bookings for international flights into japan for the rest of the year amid worries among
japanese citizens with fear of being stranded outside the country. it was overreaction and on -- omicron is already there. it is going to spread regardless what you do at the airport. dave: let's bring in senator bill cassidy from louisiana. as a doctor which is what you are and you specialize in infectious diseases this is perfect for you does this variant so far as you know about it. not necessarily from the federal government but a lot of local governments. >> i'm a liver doctor but a lot of work. dave: you still know about it and following the disease. >> we should be concerned but we have tools we didn't have when the pandemic first broke out. you couldn't screen travelers, when they were infected. we didn't know the precautions
that limit spread. we don't want to knee-jerk. you can limit spread, detect who is infected but no reason to panic. dave: vaccine mandates are a big issue and more of the courts are siding against the president in support of local state government decisions to take the president to task for these mandates. louisiana won a case on tuesday. tell us about that is where you think -- did you approve of the court's decision? >> i approve of the court's decision. the federal government should not be telling private employers to force their people to be vaccinated. they -- i don't think the federal government, it is an overreach of president biden's power. the courts agree.
and other circuit court areas. they are ruling in the same way. this is a clear overreach of the biden administration. dave: biden said was overreach when running for president now that he's president he is using it. will the courts be able to shutdown vaccine mandates entirely? >> that would be for an attorney to say and there's a certain universal. someone told me before the fifth circuit court ruled i told my employees they had to get vaccinated and some of them quit. there is a certain inertia. on the other hand it is getting out there. the courts disagree with president biden. they think what he's doing is it over step. i agree with the courts. hopefully the message gets out. hopefully other employers have a chance to react. dave: we had 8000 hospital workers quit or get fired because the vaccine mandates in the state of new york causing
problems at a number of hospitals in new york. what do you think of mandates for hospital workers particularly those with natural immunity. >> natural immunity is the thing cdc is not saying. doctor fauci said in a committee hearing, if you've been previously infected does that make you immune, he said yes, we just don't know how long. there is an and i age study showing a eight month the antibodys are -- that needs to be researched. it is bad for the cdc not to do so. dave: the woman who had omicron in san francisco, the man or the woman, whoever it is, she or he was within that six months of getting their second vaccine shot. the vaccine doesn't prevent infection either. it is important to point that out. appreciate it. "the opening bell" next, the nasdaq remains in negative territory, the s&p was briefly
and negative territory moments ago. looks like it is covering around the flat edge point right now. we will be right back with futures and "the opening bell". ♪♪ (vo) what's better than giving a 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.
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dave: let's take a look at futures and they are up with the exception of the nasdaq which is training quarter 12:45% down 33 points. markets opening in two minutes. let's get an idea what is happening with volatility. is this here to stay throughout the period of the initial period of omicron? >> you hit the nail on the head. this up and down market, plus one, minus 2, moves in the market is going good to be around as long as all of this uncertainty around omicron here and the big reason is we had a strong run up out of the october drop into this time. one thing we have to remember is the market has not had a peak to bottom pull back of 5% all year so i think we're in a good spot here.
dave: i was asking of the markets were afraid of government reaction to omicron more than omicron itself. what do you think? >> that is a great statement. we know so far the omicron has been a milder version. it might be more contagious which is bad but we are reacting to the reaction and not what is really going on. dave: we've seen will react dramatically. you are big on energy or nextterror which is part of energy. explain. >> nexttara has a renewable profile, florida power & light, you know that economy is expanding faster than most in the us as we recover. they have a big infrastructure
plus down there, economic growth and the strongest utilities already. and some growth going into the new year. dave: the bill is about to begin. would you be bullish on oil, is this the low point? >> we may be near a low point, economic recovery is the key. dave: great to see you. thanks for being here for "the opening bell". 124 points on the dow. see how many greens as opposed to reads, only four stocks in the red on the dow 30, growing a little bit, a slight pull back. the dow jones trading up 127 points. let's look where it is now.
it is in negative territory just barely and it is flatlined and green but basically flatlining. the s&p, not so the nasdaq, down 0.4%, 55 points, tech stocks taking not a beating but mixed rating, microsoft and apple trading down, 3.5%. we will get an answer to that question coming up. let's go to lauren for an answer. something to do with the iphone 13. >> apple told its suppliers the demand for the new phone has slowed down. it could be because when you tell people they are hard to get in there was a supply chain problem some people say let's wait, don't feel like waiting, i will deal with it another time. apple cutting production of the iphone 13 and now demand is down, not a good sign, apple stock is up 5% this week so
getting some of those gains back. when apple goes down so do their suppliers. qualcomm and ex be semiconductors some of the names we could show you that are down sharply. dave: snowflake soaring right now, 10%. what are the highlights? >> $334 million and they turned a surprise profit, raised their forecasts, it is a really unique diapergrowth story and software so looks like they can do this. dave: retailer 5 below is also soaring on good earnings. >> earnings were stronger for back to school, halloween and are in strong position to meet holiday demands. they have the inventory secured. dave: one.5% is not soaring but wasn't the free market.
jack dorsey is out at twitter and one of his other companies, square, the cash cow company he's taking control of getting a new name. lauren: the new name is block signifying the block chain. it's a 3-d version of the square. a square expanding beyond its payment into new technologies has $352 million of bitcoin on its books as of september and has a majority stake in the music streaming site title. it owns what branched out. i'm surprised the stock is down. it is just a name change around december 10th. dave: new technology to old technology. a list of fixes to make on her 737. lauren: this is one year after the us recertified the jet supply, stock is up 3.3%
because china is issuing corrective fixes to software installations, bring the max one step closer to returning to chinese skies, hundreds more, would be a good thing for the stock. dave: you might think travel stocks getting a beating. the worry about omicron, not a spectacular gain but it is in the green despite concerns about travel shutting down. >> these names travel and leisure have gotten beaten up this week. if you look at more region it is a bit today double of% and you can flip the screen and show the airline securing a bounce, one% for delta but they have gotten hit so hard. dave: a come back. people's perhaps overreaction, we don't know the bottom line but perhaps people thinking it is overdone. >> we are awaiting period.
we need two weeks to figure out if the vaccines hold up and how dangerous this thing is. dave: we've got to remember the first known infection in the united states is a very mild infection. it was here 10 days ago. dollar general trading down just under one%. >> dollar stores operate on razor thin margin so when costs go up from freight to labor they take a hit. their forecasts for full-year sales and profit was below expectation. this was the worst day for shares and four months, dollar general has trailed dollar tree but what dollar general is doing is great. they've been around for a little bit, it is a new store concept, younger richer people
who live in the suburbs, they are expanding that by 1000 stores, pretty ambitious plus their first ever international expansion takes them to mexico. dave: let's pull back and look at the dow winners and put up the tree. we haven't boeing, american express, mcdonald's and the s&p winners, kroger, synopsys, boeing, cadence design systems trading up 3%. general motors is up to end at half%. the nasdaq is down, synopsys is up 6.5%. cadence designs up 3%.
auto disc is up to them 3 quarters of one% and ross stores is up 2.5%. is a check of the big board, a nicely from "the opening bell" which opened to the plus side on the dow. yield on the 10 year treasury is up one.3 basis points to one.42%. gold is down significantly, $11.80 to 1772. bitcoin is up just a tick if you will just barely over 57,000, 57,025 dollars. here's oil which is trading down a little bit. it is down 2% right now. it may be close to the bottom level, taken quite a beating, lost $10 the last few days and omicron reared its ugly head, natural gas trading up 0.3 of a
penny right now and natural gas price, the national gas price at the pump is $3.38. california, $4.70. so much for that indefinite suspension. brian stelter says chris cuomo could be back on air very soon. role tape. >> bottom line is cuomo is on the bench for now. we are heading into holiday season, he could be on the bench for several weeks, he could be back in january. dave: governor mike huckabee has a thing or two to say about that at the top of the 11 am, you don't want to miss governor mike. he will be here not playing ball with no deal in sight, major league baseball beginning a lockout, details of that coming next. federal reserve chair jay powell says he didn't see this inflation coming. >> we understood the man would be strong but not how
significant problems on the supply side. inflation has been more persistent than we expected. >> shouldn't he have seen this coming, the supply side of all issues, he missed the supply side, we will ask mister supply side, our class for joining us after this. ♪♪ should have known better with a girl like you ♪♪ that i would love everything that you do ♪♪ and i do ♪♪ hey hey hey ♪♪ and i do ♪♪ your shipping manager left to “find themself.” leaving you lost.
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impose a new band for the unvaccinated preventing them participating in most parts of public life, quote, culture and leisure nationwide will be open only to those who have been vaccinated or recovered. she's making a space for natural immunity, but a new stricter lockdown on the unvaccinated. jerome powell and janet yellen saying they underestimated the inflation and supply chain crisis. >> we understood demand would be strong but we didn't understand the significant problems of the supply side. inflation has been more persistent than we expected. >> the spending because of the pandemic has been so focused on goods as opposed to services
has contributed massively to the supply chain problems. dave: art laugh for joining me now. great to see you. in addition to the fact price stability, making sure your dollar today is worth the same as it is tomorrow or a year from now is their number one job and they miss the number one job it is interesting that powell said he estimated supply side of all this. he didn't, he underestimated the fact that the 11 million unfilled job 7 impact on inflation. >> let me say this if i can for janet yellen and jerome powell, they didn't miss it for the reasons they say, they missed it, a model that doesn't forecast inflation accurately or well, they don't have a good model there and they pop the numbers which is the wrong thing good for government agencies to do. understatement is always better
than overstatement, being more cautious is be more cautious than being less cautious and they overstated the case for price stability substantially and really don't know what causes inflation. they don't have a clue and they are pretending they know the answer and they don't. we are all in the dark on inflation. anyone year ago couldn't have guessed this. it is here, it hasn't been temporary. i didn't know if it was temporary, i wasn't sure they were wrong but they were wrong not because they didn't know. yet they still talked about it and that is something these people should not do, distrust of government is a real problem. dave: you and i had a great friend, the editor of the wall street journal, he said inflation is very easy, too much money chasing fewer goods. on both sides of that equation,
too much money clearly monetizing the deficit, buying deficit spending, the treasury has been issuing, printing money to do that, that's the one side, the man side, the supply side, the fact is so many people not working, so few things being made, that makes each individual thing worth more. on both sides of that inflation equation there are inflation pushes. how could they have missed something so fundamental. >> let me a couple more. i wrote a piece in the journal with bob as editor, the bitter fruit of devaluation which is the devaluation of the us dollar in december of 1974 would cause huge inflation, 74-75, i was lucky i got it right. we don't have devaluation now. there is the larry summers argument, by government spending increasing demand all of these, feasible ways of
getting more inflation. the fed has made money so easy to obtain that there is no way you can restrict inflation if it starts by pooling back on the monetary base. there are no limits to expansion of the money supply. doesn't mean we are going to cause it, but stopped by that. what bothers me about powell and human speak, talking gobbledygook, oil, san pedro, there is an inflation issue not only in the us but other countries as well, we have an inflation problem in this world but we do know things that can make it better. for example, less expansion on the monetary base.
don't spend that bill, don't give people money to create demand. don't restrict oil. have supplies of oil prices aren't the generator. wage demands don't raise minimum wage, don't raise taxes and get people to move out of the labor force. these are things they should be doing and they are not doing one of them. dave: i disagree on one thing, they talk about oil in a way but killing off our energy independence led hugely higher gas and energy. >> of course it has. there is not one thing they haven't done that isn't inflation. dave: we have run out of time. thanks for being here. coming up, tesla for kids. we will tell you about a new electric quad bike and how much you will pay for that bike and new balance getting around the
shoe supply crush by manufacturing in america. we will take you to the factory floor for a look after this. ♪♪ 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 ♪
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first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx.
dave: shoemakers trying to keep up with their shoes but having trouble keeping up with supply chain issues, they can't get the shoes they need from overseas but not new balance was many of their shoes are manufactured in the us. grady trimble at a new balance factory in massachusetts. how many factories do they have in the us? >> three up in the beautiful state of maine, one in massachusetts. another one on the way. we are getting a behind-the-scenes look, and other materials into the finished product you see at the store. the recent supply chain disruptions have been a wake-up call, you've got to manufacture
some, what you've been doing for decades. >> unwavering commitment for manufacturing built on workforce. i have been so proud of the way they stepped up especially in the pandemic. >> the factory will open not far from here early next year. you sped that up because of the supply chain issue you are experiencing with foreign supply. >> the domestic supply chain is reliable, we have supplies spread across the country bringing raw materials and it is controllable. that is what we love about it. >> you directly employ of thousands factory workers not to mention american-made shoes, so our materials going to that. >> that is the great feature we can bring to the table.
some suppliers are incredibly innovative. it helps build the products, the demand is incredibly high. >> this is where they are putting the soul onto them. pretty cool process to watch. 70% or more of the raw materials are sourced in the united states, you see them being handmade and assembled in this lawrence, massachusetts factory. dave: great stuff. if you look to the bottom right of your screen, the dow is up 500 points, 487. it helped tremendously by an uptick in boeing stock but basically very quickly. >> we were up 500 points before we fell -- dave: important point to mention. anything can happen. we will be right back. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it.
♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. ♪. david: by the way, you may have been wondering where america's crest mass tree is? it is right here in front of the building. this is fox's america's christmas tree as you listen to new york christmas on the speaker system. look at bottom right of your screen. i'm david asman in for stuart varney. markets have done a real turnaround. particularly nasdaq up over 100
points. the dow is up over 500 points in gain. a lot has to do with boeing, certain financial stocks as well but boeing is adding a significant top to the dow. it is up 4% on a lot of good issues. crude oil still trading down. they are hit by concerns about omicron. it seems like they're close to, if they haven't already reached a bottom here unless something else happened with omicron. as lauren mentioned before we left, remember yesterday at this time the market was doing just about the same on a the positive side as it is doing today. of course it ended with a big loss. so anything can happen when we get news from omicron. bitcoin is up $345 to 57,355. it is still well below 60,000 but it is on an uptick right now. and treasury yields are going up. basis point up tick is 3.3 basis points up to 1.442 for 10-year
treasury. we just got the latest read on mortgage rates by the way, coming in at 3.11% this week. it is up slightly from last week when it averaged about 3.1%. year ago at this time by the way it was 2.7%. we knew that wasn't going to last. take a look at this op-ed in the "wall street journal" from senator tom cotton hearing is titled, "no on fed chair jerome powell." he has failed in his main mission to keep the currency sound. joining me now is brian brenberg who will be with us for the entire hour. so, brian, he has a great point. this is the number one job of a fed official. price stability, as art laffer and i were talking, make sure all you earn today will be worth just the same tomorrow and a year from now so you can plan. you can't plan with the kind of inflation we're going into right now. >> if you're the fed chair you
don't get to say oops on inflation. there are a lot of stuff you don't pay attention to. the fed said oops on inflation. they want to pivot to pay climate change and pay equity. you don't get to do that. this is the problem with the fed for a while, they keep enlarging the scope of what they want to do because the progressive left says we want you to get more involved in banking. want you to get more involved in the climate. >> how, by the way, brian, how could they? price stability and unemployment are the two things, those are two mandates it has. when you throw in climate change what will the fed do about climate change? >> that is the problem. they will do things that have no effect on the climate but make it harder for people wanting to use banking services. harder for employers. david: make inflation worse. >> make inflation worse. they're actually doing things to make their one job much, much
murderer to -- harder to do and the rest of us are suffering. david: new poll out, young people, president biden's approval rating slipped below 50% among young americans. that is down 13% from the spring. americans between 18 to 29. by the way that is your territory. what do they say? >> they want to do things with their life. think about what you wanted to do when you're 20. maybe we shouldn't talk about that on air. david: i'm thinking because i ended up doing something very different than what i am doing. i was a teacher, actor, a lot of different things. >> that is the point you want to do a lot of things, live, go places. they're looking at a president who represents none of that. he represents restriction, shutdown, stop living your life. even young people who tend to lean a little bit left, that they're saying that is not how i want to spend the years. david: it is surprising.
you talk to young people who love aoc for example, she is around their age, speaking with optimism and they can't stand the democratic party establishment. that leads me to concern maybe they will vote to the left of joe biden the next time? >> well, they might. i mean, look, we know that younger people over time tend to become a little bit more right-leaning when reality mugs them. david: that's true. yes. >> i think we're accelerating that right now. a lot of young people are opening their eyes, wait a second, what is that about now? good thing for america. it is good when they open their eyes. david: a little trivia answer what larry kudlow and i have in common. we were both at woodstock. we were both on the left of the political spectrum. >> the who, jimi hendrix. david: moved over to the conservative side when we got older. >> nice. david: brian, you're here for the whole hour. a doctor from singapore is sending a grim warning.
he says, just one doctor, that the omicron variant will likely dominant and overwhelm the world in three to six months. brian, the question is, do you think we'll go back to lockdowns? a lot of that, a lot of that really hinges whether or not this doctor is right. i haven't seen a lot of doctorses say that. >> i haven't either. bothers me when medical professionals use that kind of language especially in a moment we don't have the data to say any of that. we don't know what the strain is all about. to go out there saying it will dominate the world and overwhelm us. we have a problem sy makers listen to folks on that. i hear it and i want to err on that side of things because i don't want to get blamed for things. a recipe for people not living their lives, recipe for inflation and recipe for shutdowns. if you like the taste of it, you will get a lot more of it when doctors like that setting the science. david: a lot of politicians glom
on to the people, because it gives them more power. the more power and panic in the air the more power they take. >> they see the emergency button, they want to push it. doctors like that think they can. david: brian, stay there. let's bring in gary kaltbaum. the market was trading it was not bad. it was up 100 points in premarket activity. it is 425 to the upside. why is the market popping right now? >> well i have a motto in this market right now and that's don't blink especially after yesterday. where it knocked down 1000. we dropped 2500 points on the dow. that is number one. number two, yesterday we had 1000 new yearly lows even though the s&p is only four5% off the highs. that is usually an extreme number. usually you get bounces off of that. i'm not not necessarily worried
now but into next year. the growth stock arena has been nothing but carnage, notwithstanding the big caps over the last three months and you guys have been talking about it. you have arguably the two most powerful people on earth, the treasury secretary who wants massive taxes, looks into the camera, says, oh, we'll spend 2 trillion bucks but it will lower our deficit. then you have jay powell, with all due respect has been completely 100% wrong. these are the people that have the levers of the money system throughout the world. this really worries me. i think he is completely behind the curve. now he is being forced to taper quicker than you should have. by the way they should have never been printing in the first place. i think that could cause real problems in the market next year. david: all that being said you think markets are oversold right now? >> oh, definitely. when you see 1000 new yearly lows yesterday, and so many growth stocks down 30, 40, 50%,
some worse than that you get points when the market says enough. so you're getting a bounce right here. i'm not so sure how long it lasts. i will need to see some much better action. i think today it probably holds notwithstanding more bad news on this new virus. david: very quickly, i'm getting a wrap, are you buying? what are you buying today? >> i am, i have what i have. i'm not adding anything this second. david: okay. >> i'm in big cap tech and some big cap etfs. that is it this second. david: gary kaltbaum, great to he saw. thank you very much, my friend. appreciate it. let's check the cryptos if we can. the, i believe we see up, yes, they're up all over the board. litecoin went down a tick but bitcoin is up 500 bucks right now up to 57,100 right now, up 46 and ethereum is up as well. litecoin is down for the moment. top executives at eight
major crypto firms by the way including the cfo at coinbase will be testifying before the house banking panel that happens next week. come back in here, brian, because this will be the first time major crypto companies are going to testify to congress. what do you think we're going to hear? >> it won't be the last. i always get nervous when congress wants to haul uninnovators into their session and grill them. what it tells me -- david: tells you how little they know about things. >> how little they know and about how concerned they are losing their power. we'll talk about the fed a second ago. the fed is in scope of control of this government. these crypto markets are not. policymakers, specifically on the left, elizabeth warren, has made it very clear she is no fan of this. she wants to go after them because they are an alternative base to the power she thinks she has. that is my read on it. david: a good read. now this, facebook announced it will reverse a long-standing policy preventing most crypto companies from running ads on
its services. this decision coming after the tech giant tried and failed to launch their own cryptocurrency. we'll stay on meta by the way, facebook. the new york attorney general's office just released messages from a facebook manager who once worked for andrew cuomo. the texts reveal that danny lieber secretly advised the late governor's team to victim shame a accuser. she was advising cuomo's team for months. your reaction. >> we'll victim shame that was the strategy. and we'll do it in public. this is the be double standard thing we've got. you have got an administration, andrew cuomo says we're all about me too, about the rights. as soon as they come under fire their strategy take the victim, shame them in public. that is how -- david: not the first time. remember the clintons. it is the same playbook. >> happens all the time but it has gotten more egregious, people are taking much more
public postures they're on the woke side of this issue. we're all about this issue but of course you know it doesn't matter as long as they're the ones under the microscope they will do whatever they can to stay in power. if you want to understand our world right now, it is words and deeds and the gap has never been bigger particularly for people on the left. david: now this, the republican candidate for kansas attorney general is taking legal action against osha's vaccine mandate. he says the government is not taking into account natural immunity. kris kobach will be joining me in our next hour. meanwhile dr. fauci dodges a question about illegal migrants being screened for the new covid variant the border. watch this. >> what about people who don't take a plane, border-crossers coming in huge numbers. >> that is a different issue. david: different issue. nearly two million migrants crossed our border this year alone. what about them? the virus doesn't discriminate between citizens and illegal
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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. david: checking the markets, pulled back slightly on the dow jones industrial average. it is trading just under 400 points. it was close to 500 points about a half hour ago. come down a bit. still very nice gain. over 1% gain. s&p a little less than that
percentagewise, up 33 points. nasdaq just pairly in the green, .09% to the positive side. we had a pop moments ago. seems to have fallen down a little bit. this is a very volatile session. all of this depends on what happens with omicron. let's check twitter by the way. cathie woods of ark talked about buying twitter. if you look at chart like a ski slope. she bought 1.1 million shares. she says now is the time to with dorsey leaving. more of a money making enterprise. she figures it is time to buy. she lost money today. but long term she might do okay. this afternoon president biden gives remarks on his plan fighting covid as we head into winter months fighting omicron as the first case of omicron has been detected in california. edward lawrence is at the
white house what is the latest, and what we're about to hear from the president. edward? reporter: exactly. the president's plan going forward for the winter with covid and variants are three phases, testing outreach and travel restrictions. we saw the omicron variant has had impact on the markets yesterday. they erased all the gains we saw. but we're seeing bounceback today. a volatile session. on travel, all international travelers coming into the u.s. will have to show proof of a negative test within 24 hours of flying. also the mask mandates for air travel has been extended now through mid-march. leaders of eight african countries on the travel ban list upset about the reaction. initially dr. anthony fauci said the u.s. did not want to punish the countries for doing the right thing but listen. >> we didn't want to make sure all of sudden say, not like anything else, don't worry about it, but something unfolds in front of you that you're not prepared for.
we look at this as a temporary measure. so i do hope this gets sorted out and lifted. reporter: talking about the travel bans. now republicans are highlighting the fact that the travel restrictions are for legal travel into the u.s. but the more than 1.8 million people in the last fiscal year that came here illegally didn't have those restrictions. listen. >> if people wanted to come in and not get tested all they have to do go down south of the border to come in illegally. it is absurd. you know, that we have our borders open. that we have people pouring in, not only with diseases but with drugs and they're not being tested. reporter: still the biden plan to deal with covid includes the administration partnering with pharmacies to send millions of texts and calls to encourage boosters and vaccines. there is strongly worded language to get all kids five to 11 vaccinated. also requiring private insurance companies to pay for the at home covid test. at the moment they're not covering those. david?
david: edward, thank you very much the white house is set to unveil new travel restrictions today as edward was talking about but dr. fauci dodging a question from our own peter doocy whether our illegal immigrants will be held to the same standard. watch this. >> as you advised the president about the possibility of new testing requirements for people coming into this country did that include everybody? >> the answer is yes. >> what about people who don't take a plane and just these border-crossers coming in huge numbers. >> that is a different issue. there is testing at the border under certain circumstances. david: come in senator marsha blackburn, republican from tennessee. senator, you know, it is extraordinary, mr. science as he likes to call himself, the sinacur of all things scientific. the virus doesn't care attacking illegal immigrant or u.s.
citizen yet they're treated differently as far as the mandates are concerned. what do you think of that? >> the biden policy is a non-policy what it boils down to, dr. fauci, bless his heart, he is all over the place on this. here is what we do know, the white house wants to put remain in mexico back in place now so they can say they are doing something about it, but david, for those of us have been on the border, you go out, you work with the border patrol, people are apprehended, the next day you leave mcallen, some of those individuals are on your plane. they're going to places all over the country. this is why every state is a border state. every town is a border town. they're rapidly moving individuals across the country without knowing what they are testing positive for. without knowing many times how
many "gotaways" in this country. you talk to border patrol, they say it could be as low as 400,000 or as high as 1 1/2 million. this is why they're having such a terrible time getting this under control because they do not have a consistent policy to prevent individuals with this coming into the country. david: the bottom line is they say they're following science. they're not following science. >> no. david: they're putting politics before science. it is clear to see that. now more than ever. i want to move on to another topic because the women's tennis tour has suspended all china events over peng shuai's safety concerns. do you support that move? >> oh, absolutely i support that move. the way peng shuai has been treated and i applaud the wta i wish the u.s. olympic committee
would follow suit. i have great concerns about our athletes being in beijing, what they would be exposed to, or how they would be treated. woe also know the nba has kowtowed to the chinese communist party and they do exactly what the communist party tells them to do as well. david: yeah. >> as some of the factories in xinjiang province, manufacturing the nba logo merchandise. david: senator, very quickly. this morning donald trump told fox news that he does not support a boycott of the olympics. he thinks that our athletes have trained too hard for that. that there are other ways we can crack down on the chinese quickly. do you agree or disagree with the former president? >> well there are many that think that the athletes should go ahead and go but they should be, if they go, you're going to have to have an incredible amount of protection.
and if they go they need to just whip everybody, win all the gold and come home and show how debased the chinese communist party is. show how vitriolic they are, show how they treat their people and their athletes. david: senator, thank you so much for being here. marsha blackburn, great to see you. appreciate it. >> you got it. david: now this. lebron has been sidelined due to nba covid protocols. many are speculating that james has tested positive for covid. we can't confirm that but a cryptic tweet he posted is raising more questions. we'll explain coming up. meanwhile the cdc confirmed its first u.s. case of the omicron variant, the patient, get this, was fully vaccinated recently. we have all the details right after this. ♪.
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healthmarkets ♪. david: well take a look at this. south africa new covid cases nearly doubled in a day, rising to 8561 new infections on wednesday from 4373 a day earlier. this dramatic surge coming after the omicron variant was detected last week. now again, we don't know the severity of all these cases.
they say hospitalizations are up but they say it is too early to tell whether there is a big trend there. now this, the u.s. reported the first u.s. confirmed case of omicron variant. the traveler came to california from south africa. jonathan serrie is in atlanta. jonathan, do we know how the patient is doing? reporter: david, the san francisco health care says the patient recovers but continues to self-quarantine as a precaution. the person became ill after returning to california from recent travel to south africa. then immediately got tested. the patient had a mild case but it did not require hospitalization. >> this is not a surprise. for those of you have been following this we knew that omicron was going to be here. we thought it was already here. we just hadn't detected it yet. so this is cause for concern but it is also certainly not a cause for us to panic.
reporter: federal health officials are urging americans to get booster shots. the theory, higher level of antibodies that boosters produce will create a level of spill over protection against omicron even though current vaccines are designed for the original wuhan strain of the coronavirus. the san francisco patient had received two doses of the moderna vaccine but no booster. however dr. anthony fauci cautions there are limits to what you can learn from this single u.s. case. >> so you really can't make a broad general statement or an extrapolation what would go on with unvaccinated people or people who are boosted so there is a lot to still be learned. reporter: may be several weeks before researchers can determine what level of effectiveness existing vaccines offer against the omicron variant. as a precaution several manufacturers are already developing new vaccines
targeting omicron in case they are needed but federal health officials say unvaccinated people shouldn't wait to get their shots. they should go out to get them now. if you're eligible for a booster you should do that now as well. they believe that these shots will offer at least some protection against this new variant, david. david: well, may be why she is doing so well, she or he, the person who is sick because they were fully vaccinated. jonathan serrie, great to see you, thank you very much. reporter: my pleasure. david: mike gunz gunzelman is with us. you say entainment companies are already reacting, maybe overreacting to the omicron variant. what are you seeing and hearing? >> so, david, we've been dealing this for two years but unfortunately it seems we're going backward. the panic and hysteria is getting plain ridiculous right now. in addition to be on-air personality i'm also a music d.j. i had a lot of holiday parties booked in new york city and
new jersey. this week alone i'm getting cancellations. already they're being canceled because of this variant. everything from a couple that had you know, couple hundred people to even smaller ones with 30 or so people. and you know, we don't even know what this is all about, already people are buying into the plain hysteria. not just because of me, i will lose out some money and some division, what about the restaurants that are really banking on this holiday season because they got decimated last year? now people are panicking. they're going to be affected again. the holiday season is when a lot would bring in the money and already things being canceled. what is next? what will we do next now? david: broadway was just beginning to open up. again there were vaccine mandates in most of these theaters, et cetera, despite all of that they were opening up. i just wonder how quickly it can be changed if in fact we find out that the omicron variant is not as virulent as some people
fear? >> i mean, if anything that we've learned it takes a while for things to be taken back. obviously we just found out mask mandates on the planes will continue on. even that, like, i feel like the average common person, i cover a lot of trending stories, what social media is talking about. i have to wear a mask to be on a plane but the person next to me meeting eating, drinking can pull it down. what is happening here? it doesn't really make sense. the effect this will have once again on restaurants, on perhaps live events. i have a friend getting married end of january and his fiance is freaking out they might have to postpone the wedding again. this is what is coming across two years later. instead, instead of paul revere 1700's screaming the british are coming, now the media and fauci screaming the variants are coming. david: right. >> it is getting out of control. we need to calm down. david: a lot of politicians, brian and i talk about this kind
of glom on to this, as a means of holding on to their power. >> control and power, absolutely. david: great to see you. we have to move on, appreciate it. good luck to you. now this, lebron james posting a cryptic tweet sidelined due to the league's covid protocols. it said, quote, something is really fishy going on. what the heck does that mean, brian. >> first of all let's be clear we're trying to interpret a tweet with a picture of five fish. i have don't know if we'll get to the bottom of it. lebron james was a vaccine skeptic there for a while. he ended up getting it, now maybe in this protocol because after positive test, we don't know. that is not known yet. it could be look, is there something fishy about the vaccine? that would be a very big story, if he is coming out saying that. david: or is there something fishy about just the fact that there is a rumor going out there? rumors spread so quickly these days on social media. a tweet like this doesn't help
though. >> no. david: if you're ambiguous what is really going on, then, tell us what is really going on. >> he is not even saying he is has anything. teammate says we think he is asymptomatic. does that mean he got a positive test. the interpretation he is expressing skepticism about the vaccine. david: this gets back to the whole issue how badly we have been following the science. we hear biden administration officials say we follow the science. they haven't been. they're changing every day. we saw it happen with the cdc time and again over the past couple months and cdc is not being clear with their statistics either. >> when you call something science that isn't science you undermine the whole institution. that is what is happening right now. we can't distinguish what is real and what's not and it is causing real problems for us. obviously tweets like this don't make anything clear. now this the mlb entered a
first lockout in three decades after the owners and players failed to reach an agreement on a new deal. will the season start on time? we have the story next hour. we have information on the opec meeting. phil flynn has news for us that could affect price at the pumps. that's next. ♪. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description.
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david: check the markets, they are moving down right now. nasdaq back in the red. this might be the reason why. minnesota now confirmed its first case of omicron. there is second one in the nation we know of. the person has been vaccinated. that it is another breakthrough case. they reportedly were also in new york city, the person involved in this in minnesota,
person on set right here from minnesota joins me now. brian, this really speaks to these vaccine mandates. there is nothing wrong with taking a vaccine. it might reduce severity of the disease. but it doesn't, it is not proof positive you won't pass it on. >> the risk minnesota overreacts. it has a history during the pandemic overreacting on shutdowns and lockdowns. a lot of minnesotans are concerned their governor tim walled will do that again. i want to go there for christmas. see what happens. david: good luck with that. the today's opec meeting, marks the 11th one this year. that is a new annual record. phil flynn is in chicago. maybe he is not. color bars. is he available? all right. we don't have phil. hopefully we'll get him soon. now this, former president donald trump joined "fox & friends" this morning and touted his energy policies, roll
tape. >> we were energy independent. we didn't need ships all over the place clogging up the waters, coming in from saudi arabia, russia and other places. we were the biggest in the world. we would have been bigger than saudi arabia and russia combined with real energy and it is called liquid gold under our feet. we have an advantage that other countries like china don't have being. so many different things. the mandates had a lot to do with the supply chain problem. david: i'm joined by gas buddy's patrick dehauge. patrick, bottom line, didn't we essentially had energy independence control the world price and we have lost touch with that control? >> we never really had the midas touch. we are seeing crude oil production here in the u.s., about two million barrels a day below that but the president makes the assumption if you put saudi arabia and russia together if it wasn't for u.s. policy we would somehow be above both
those countries combined. that is a plain fallacy. the producers amount to 18 million barrels a day of production. u.s. at its peak was 13. that would be a considerable gap to plug. it is interesting that the president, president trump himself begged opec to cut production early in the pandemic. here we are with the omicron variant pushing oil down, with opec at least so far agreeing to increase production, u.s. motorists will be faced with falling gas prices, a change for once. david: do you doubt for a moment that one of the reasons why prices have spiked so high is because we have lost our energy independence because of all these new regulations and rules from the biden administration on fossil fuels? >> well i wouldn't disagree we've lost some level of independence, david, but i would blame it on covid, not policy. again president trump begged opec to cud production. it was covid that turned the world on its head caused oil demand to plummet, along with it to oil prices to plummet that forced oil companies hands to
cut production. if you're apple, don't sell iphones, don't continue producing them. that is what oil companies faced. we're building back slowly. the department of interior issued new permits for drilling in the gulf of mexico. offer justly as long as oil prices remain depressed we'll not return there. one political angle where the president is right is that you look at the left and a lot of these anti, anti-fossil fuel stances are harming investors desires to invest in oil companies. david: of course they are. remember the first thing that the president did was to cut the pipeline, xl pipeline and he has gone ahead with all kinds of regulations on fracking put anwr off limits. he has done a lot to suppress investment in the oil industry no. doubt. good to see you, patrick, thank you very much. appreciate you being here. >> thanks, david. david: this opec meeting marks the 11th one this year. i think we have phil flynn back with us, right? >> you do. david: there he is. phil, the point is we're trying
to control opec, we're trying to get them to tow the line. we need more oil, although apparently not in the united states. some would argue we do but the president's trying to get opec to flay its tune. do you think they will succeed? >> i don't think they will, dave. to be honest with you, today the reports are that opec will go ahead with their 400,000-barrel production increase but this may be more about trying to show the oil market that they have confidence that the sell-off is overdone so they won't raise panic in the market as opposed to being scared of what the biden administration did. make no mistake about it, dave, the biden administration has created a situation where we have some of the worst relations we've had with opec, probably since the 1970s. and if it weren't for the big sell-off in oil, opec trying to make a statement about therapy confidence in the market i think
we might have had a different outcome from this meeting. david: patrick was skeptical. i think to a certain extent, when we had our energy independence, we had a lot more control over the price. the world price of oil than we do now. do you agree or disagree? >> absolutely agree, dave. listen, i've been watching this for many years. i know the only thing that ever really scared opec was the u.s. energy producer. for years it was saudi arabia, they were the swing producer. they didn't really care about anything else. now they care. they knew they had a competitor. our competitor has retreated. now they have nobody to worry about. so they know they're in control and they will use that to their advantage not only economically but from a geopolitical viewpoint as well. david: phil, of course the irony here, we say we're doing or administration says it is doing it, cracking down on fossil fuels in order to clean the environment. we're now more dependent on coal than we were a year ago, right? >> i know.
the road to hades is paved with good intentions, right? we're trying to get off fossil fuels. the way they're doing it, killing the cleanest produce irin the world, the united states. the rest is short of supply. they have to burn dirtier fuels. they have reduce oil from the reserves and the reserves is dirtiest oil, comes out of reserves, add to greenhouse gases. david: thank you, phil. incredible. ohio school science teacher going on antipolice rant about the kyle rittenhouse case. roll tape. >> he ran toward the police with his hands up and weapon right here and the police did this. they waved him through. he was black, he isn't waved through? no [bleep] way. david: why is a science teacher talking about kyle rittenhouse anyway? jason rantz will be taking that on in the next hour.
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develop or worsen. serious allergic reactions may occur. watch me. david: stacy abrams launched her 2022 bid for governor of georgia. her campaign video highlighted work in the state since her lost to governor kemp four years ago. congressman buddy carter, republican from georgia joining me now on this. congressman, abrams lost by a very slim margin last time. what do you think will happen this time? >> i think she will lose by a wide margin this time. stacy be a programs represents values of average georgian like man on the moon. if she had been charge during the pandemic we would have seen in georgia with what happened in california and new york with the shutdowns that join destroyed economies. we have republican leadership in georgia. we kept our state going. the economy kept going.
that is what we needed to do. if you get stacy abram with her far left socialist priorities it would be disaster in the state of georgia. georgians understands that. david: she denies she supported the boycott after the voting law was enacted yet she came out the same misinformation spread by president biden and others in the democratic party that led to the boycott, didn't it? >> absolutely. few days before the boycott, before the major league all-star game was taken from the city of atlanta, she penned an op-ed in the national newspaper said boycotts work. she said that. and now she says, oh, i didn't have anything to do with it, never wanted them to move the all-star game. thank you very much, stacy. that cost our economy millions of dollars. it costs small business people. it impacted them. it impacted the very people that could least afford it. david: congressman, you are a pharmacist by trade and there,
is it not a lot of movement, even though there is some tremendous break through technology in terms of therapeutics for covid there is so much attention by this administration on just vaccine alone. does that concern you? >> well it does because there needs to be an emphasis on a couple of other things. first of all as a pharmacist you're taught to ask the right questions. we make recommendations all day long to help people and treat people on occasions. you have to ask the right questions. we're asking the questions are you vaccinated, when we should be asking do you have immunity? that is the question we should be asking. every time the democrats do something with health care we lose. look at obamacare t took away the private health insurance. look what joe biden is doing with vaccine mandates, taking away our private health care decisions. now nancy pelosi is trying to propose this deal where she will take away research and development for new medications and our ability here in america
to get medications? that is ridiculous. david: congressman buddy carter, great seeing you. appreciate it. >> thank you. david: let's check the markets. as you can see we lost a little bit of edge we had earlier. nasdaq is in the red, down half a percentage point. dow jones still a healthy gain of 367 to the plus side. s&p is up as well. grab holdingses by the way, a tech stock that just became public. it is dropping so far, it is still early in the day. we'll see what happens. but grab is not doing too well right after its opening. still ahead we have kris kobach, jason rantz and arizona congressman andy biggs. chris cuomo breaking his silence after being suspended indefinitely from cnn we have the tape and reaction from governor mike huckabee. that's next. ♪
>> the federal government should not be telling private employers to force their people to be vaccinated. >> we should test everybody who comes into the country including illegal immigrants, 20% of adults have been vaccinated, policies like this. >> the biden administration flailing in the polls and this administration turned into a dumpster fire. >> always best to buy when it is ugly. >> let me say this for janet
yellen and jerome powell they missed it. >> they don't know what causes inflation. they don't have a clue and they are pretending they know the answer. ♪♪ dave: magic carpet ride, on this thursday december 2nd. i'm in for stuart varney. volatility is the name of the game. nasdaq going positive after it was negative. dow jones industrial is up 462 points. s&p up 35 points. lauren simonetti, at this point
up by the same amount, ended down quite a bit. the yield on the 10 year treasury. we have our better but others are down right now. amazon is down to take. apple taking it on the chin down 2%. now this. look at an op-ed from the wall street journal. michael bloomberg is the author of this op-ed saying why i am backing charter schools, the public school system is failing. my philanthropy will give $750 million to approve an alternative. let's bring in mike huckabee. great to see you. i said to start with a good news story because we've had so much bad news with omicron and other stuff. it's great that michael bloomberg is on the right side of this issue, $750 million is a lot of money giving it to charter schools because he says
the teachers unions have been unresponsive and unaccountable. i think this is good news. >> i think it is great news and refreshing to see michael bloomberg spend his money on something other than gun grabs and failed presidential campaigns the didn't earn a single delegate. very good news. i also applaud him for recognizing charter schools are one of many alternatives parents ought to be able to make for their children. this is a time we've seen the failure of government schools, teachers didn't want to teach or go back because of covid so you found the teachers union fighting not to get schools open but to keep them closed. which is counterintuitive for what teachers ought to be about. it is nice to see this push by bloomberg on charter schools. we also see on vouchers, some real options and alternatives
for parents particularly parents of children who live in poverty. dave: the middle class and the wealthy have alternatives for folks don't have. $750 million is a lot of money but $200 billion is how much all these covid bills have given k-12 public education. a lot of that goes to the teachers union. they are empowered like they've never been empowered before at least monetarily. >> they are and it has always been that way. the department of direction used to say two people when it comes to education, school people and kid people. the school people want the money to go to the institutions. the kid people want to make sure the children are actually learning and those who are teaching them are held accountable for how much the children are learning. we need to be kid people, not school people. dave: great distinction. i still move on to embattled anchor chris cuomo because he has broken his silence after
being suspended from cnn. one of his colleagues says cuomo could make a comeback. listen. >> it is embarrassing but i understand it. the last thing i ever wanted to do was compromise any of my colleagues. >> bottom line is cuomo is on the bench, we are heading into a holiday season. it is possible he will be on the bench for several weeks, possible he will be back in january. dave: heading into a holiday season like he deserves a christmas present to come back on air. what are your thoughts on all this? >> the right thing to do would be for jeff zucker to put fratto in the little fishing boat and put him out on the lake. that would be the merciful thing to do. that is not going to happen because cnn has a history of taking people who have done the most outrageous and frankly embarrassing things, jeff tube and comes to mind.
dave: he made a comeback. >> did he ever and now he offered to lend a hand to chris cuomo and tell him how to do it and i guess cuomo will be back at cnn but it further destroys the reputation, what little is left and the credibility of cnn for him to come back after what he did. dave: for them, he was a ratings grabber. in comparison to other, not just fox, we terrify hack out of their ratings but even ms was bettering them on most days. they don't have a deep bench if you will. >> they don't. they haven't had success, lost 70% of their audience since the election, if it were not for being forced to watch cnn in airport concourses i am not sure what audience they would have. that and a few offices in the waiting rooms of a proctologist somewhere is what they are left to.
dave: your daughter, how is she doing in her run for governor? >> it is doing great. the last she dropped down, has a clear path to the nomination. dave: no primary battle. >> looks that way but she doesn't take it for granted. politics, only two runs, unopposed or scared. dave: they play tough in arkansas. you were elected home lieutenant governor, arrived at your office. what happened? >> the door was nailed shut from the inside. that story is true and it remained for my first 59 days as elected lieutenant governor. nail shut by orders from the white house. quite an experience. dave: politics is not beanbag. it is anything but that. have a wonderful holiday if i don't talk to you.
thanks 1 million. check the markets. we are close to 500 points on the upside for the dow. it is going up and down. the dow is positive, so is the s&p though there is one second when it is negative, nasdaq is positive and that has been flirting with negative territory, so much hangs on what is happening with omicron. bill but ruth joined me now. let's talk about the fed chair. jerome powell supposedly, becoming hawkish in terms of cutting back bond buying a bit. do you believe in? >> >> this comes after he used more freedom and it had indigestion, some of the
volatility, variant news but didn't back down from that. not the crater but people pay attention to what he has to say, so four voting two weeks. dave: cleveland fed president loretta master is a pull back. more hawkish than powell did. a lot of appointments by the biden administration, a lot of doves, there is still sort of it seems there is a consensus for backing a tapering. >> the interesting thing is you go back to november a month ago and there was a fear, the repeat of what happened in october of 2018, what surprised
me tuesday was powell was channeling autopilot bys and that threw me off, through markets off. to be more hawkish, or more division two weeks is a scenario that - interest around omicron can lead to a good tailwind in a seasonally bullish time of your. dave: market is 530 on the dow. i your stocking server stock picks. it is a solid stock. >> salesforce is down 12% yesterday, up 3%. technically came to a massive area of support, $250. this is a stock that i love. in client portfolios. i like the stock in the
earnings report was good. the guidance for the current quarter that they revised earnings below the endless estimates. revenue guidance is above estimates. look at the slack acquisition. they caught a lot of heat for that. i will use this as an opportunity to buy weakness and we are seeing salesforce back to new record highs. dave: it is up 3.5%. great to see you, appreciate it. back to lauren. you have movers starting with kroger. >> they listed annual forecasts, people still cooking at home and buying groceries from kroger. another reason, so expensive tesla delivered to you. the fees add up. dave: talk about grab. >> speaking of volatility.
the southeast asian super apps do food delivery and financial services. shares opened at $13.06 giving grab at that time of $51 billion market value and cratered but the reason we saw the big open is there's an appetite for asian technology companies outside china and that is what this is but volatility is killing it. dave: simon property group has news. lauren: it is up 75% this year. it is going up another 20%. dave: thank you very much. no deal. major league baseball entering its first lockout in 26 years after players and owners failed to agree on a collective-bargaining agreement putting spring training in jeopardy. kyle rittenhouse is no longer enrolled at arizona state
university but students there are still trying to get him to cancel. the story on that and there is this. doctor fauci dodging a question about covid on the border. role tape. >> what about people who don't take a plane, border crossers coming in huge numbers. >> that's a different issue. dave: a different issue. migration at the with mexico border reaching a ties level in history this year. 1.6 million people encountered at the border and now they are spread all over the country, no problem, more to come. ♪♪ ♪♪ my tongue gets tied when i try to speak ♪♪ inside shaking like a leaf on a tree ♪♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency.
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>> you advised the president about the possibility of new testing requirements for people coming into the country, does that include everybody? >> the answer is yes. every coming into the country needs to have a test within hours of getting on the plane to come here. >> the border crossers coming in in huge numbers. >> that's a different issue. there is testing in the border under certain circumstances. dave: that was doctor anthony fauci dodging questions about covid testing for illegal immigrants at the border. they unveil new testing requirements for everyone else entering the country. a republican candidate for kansas attorney general, great to see you. doctor fauci says it is a different issue.
>> it is the same issue, people entering the united states on a plane or coming overland. the other thing doctor fauci doesn't want to talk about, assembling in august of illegal aliens released into the united states, turned loose by border patrol. the sampling is 20% tested positive for covid. far higher than people coming in on planes, far higher than the american population. the idea that is a different matter, pay no attention to that is ridiculous. by the way he also implied people on the border are being tested. only that small sample from the rgb sector was the only place they have been testing. the rest of the border border patrol officers don't have time to do tests because they are used. dave: spreading them out, member the old phrase stop the spread, they are doing the opposite. more highly infected group than
most citizens of the united states spreading them throughout the united states, almost like they are ceding the us with a virus. >> not informing the communities where the illegal aliens are being transplanted, not telling them by the way we just dropped 1000 people here, might see if they want medical attention or test them for covid. number that is happening. the hypocrisy is amazing when they treat american citizens so badly. dave: you filed a brief with the case against the osha vaccine mandates. they failed to take into account natural immunity. make your case on that point. >> that is one of the biggest holes in the government argument. to use this authority they have to show the what they did was necessary and make their mandate as broadly as they did. the problem is we've seen the department of justice's answer and they don't have a good answer. they can't explain why they didn't account for natural immunity.
natural immunity is superior to any immunity, those who have a vaccine, you want to let those who have natural immunity or allow them into the workplace and that the permit of justice answer was silly. natural immunity is inconsistent. not everybody has it as strongly as others do but the same could be said of maxine immunity as we saw with millions of racer cases. just because it is inconsistent doesn't mean you disregard it. the department of justice legal position is very weak and the us court of appeals. >> the two omicron cases we know in the united states are both because of individuals, who are fully vaccinated. it helps you survive better, and we still have breakthrough cases.
>> which employs have the coronavirus. the biden administration, the limitless effort to push vaccines disregard natural immunity. has no authority from doing this in the first place. dave: we have 5 seconds. are you going to win in the supreme court, >> i think it will go to the supreme court and cautiously of domestic we will prevail. dave: great to see you, appreciate it. let's check the markets, the dow jones industrial average is well over 500 points. the nasdaq is up a full half percentage point in negative territory for most of the morning, the s&p is well over
one%, one and a quarter% jump on that as well as the dow is the leader. it is a good day for the markets, anything could happen. it is early. it depends on omicron and how government and people react to it. show me uber, ubs and named it a top pick. they think shares could more than double. now check amazon and blue apron, the meal kits company, you can access blue apron recipes through an alexa enabled device, nociception is necessary. kellogg reaching a deal with labor union and ending a 2-month strike. >> it is a new 5-year contract, has not been voted on, for all employees, why is that important? at one point the union says kellogg wanted workers to give up quality healthcare.
better terms for temporary employees, 30% of their overall workforce. they vote on it on sunday, 1400 serial plant workers at kellogg's since october. >> they were not as successful at major league baseball to lockout players for the first time. spring training just a couple weeks away. >> end of february. >> they have some time and they are not negotiating in the off-season. commissioner manfelt that there hopefully get a deal. the biggest issue is salary. the players average salaries 3.7. it is down three years in a row. the anger the middle-class players are forced out by teams that are concentrating perils on the big guys ahead of all
this. yesterday, $1 billion in new contracts were signed. then you have the mets, $45 million a year. dave: the average 3.7 million, is pushed up a lot by these big money players. dave: a police shortages in the only problem plaguing seattle, dealing with a 9/11 staffing shortage. president biden is comparing the supply chain to toy fads of the past. >> some of you moms and dads remember cabbage patch kids or beanie babies in the nineties or other toys that have run out at christmas time, no supply chain problem. dave: this is not the same. dan heninger taking that on. ♪♪
♪♪ you better watch out ♪♪ you better not cry ♪♪ you better not pout ♪♪ i'm telling you why ♪♪ santa claus is coming to town ♪♪ dave: michael bubble, god bless you. with a name like asman you shouldn't fiddle with bad last names. you are looking at the all-american christmas tree on fox square. >> always good. dave: let's check the markets. it is a good day right now. at least at the moment. the dow jones industrial average up 573 points, the nasdaq over half a percentage point after being in the red for much of the morning. we should mention white house press secretary holding a press conference, jen psaki said that the omb has spoken to agencies in preparation of a shutdown
that may happen. a lot of republican suggesting because the vaccine mandates there may be a shutdown but the congress has time to ever the government shutdown between friday 11:5:09 pm if it happens. let's look at apple if we can, slowing demand for the iphone 13 causing it to be down quite a bit. >> apple told its parts suppliers demand for the new phone slowed a bit and it is crucial because the holiday season is its biggest quarter and a test for consumers interest in its product. people might be waiting because of the supply chain issue and told by tim cook you got to be more patient when it comes to certain models of the iphone 13 including dollars and sales this quarter but they are waiting on the fourteenth, supposed to be a different phone, a better camera, people are just like you know what, that is fine. apple shares down today.
suppliers, and xp down one%. as apple goes so do they. dave: news on tesla, something for kids. lauren: i remember. they show it to you, for kids age 8, an electric a tv, looking at the steering wheel. a gold colored top speed 10 miles an hour. $1,900 and shipping 2 to 3 weeks. dave: it would not do well at the manhattan apartment. dave: i think that is a good price.
think of what it does. i may get one for myself. look at this headline for the wall street journal, omicron re-infects governments, misinformation has become an everyday word with social media companies like google, twitter and facebook censoring post about issues like climate, race, and gender. by that standard they should take down the accounts of every government in the world for how they have often mishandled informing their citizens about covid 19. dan heninger wrote that. i love this column. it is terrific. not just the biden administration. and >> >> two years of this pandemic but people lived through it in a state of confusion because their government ♪♪ level with them and when faced with something like this
variant, yet to be proven how dangerous it is the governments react as though it were 2002 all over again with things like travel bands and masking and policies that don't seem to reflect any adjustment to the world we live in. it is an irony i say in my column we live in a modern world of constant quickchange, things are changing every 60 minutes. everybody understands that's the way we live and you have to adapt. governments are just bogged down in rigidity, so slow to react, and when they react they react in very crude ways like with these travel bands. i think governments are the ones infected by omicron, not the american people. dave: what the new york governor did is really
dangerous, to shut down elective surgery in hospitals before there is any sign that hospitals are overloaded. >> that is right. the inadequacies and failures run as background noise and accept the way it is but put your finger on it, with the pandemic we have seen government inadequacy is dangerous. now we are faced with the question of the vaccine mandate and public workers refusing to go to work and i agree with the previous guest, they should be recognizing the natural immunity many cops and firefighters have acquired by getting covid infections. dave: i to get this last one in. president biden comparing the supply chain crisis to toy fads of the past. >> some of you moms and dads member cabbage patch kids in the 80s or beanie babies in the nineties or other toys that have run out at christmas time in past years when there was no supply chain problem.
dave: that is plain irresponsible, to compare a fad of one or 2 toys that everybody runs and advise up the supply chain problem we have it is affecting tens of millions of people, a terrible analogy whoever wrote that should behold and quartered. what do you make of that? >> president biden wrote it himself and makes a mistake aging himself by invoking cabbage patch kids but this is what it has come to with this administration, trying to sell the build back better plan when the price of it was three or $4 trillion they came forth and said it is going to cost 0 because it is all paid for. coming up with preposterous - keeps damaging the president's approval with the american people because they don't buy that kind of explanation.
dave: if you have access to the wall street journal, if you don't, access to the wall street journal online and read it dan's column. are we headed for government shutdown, expiry at midnight tomorrow, congress and andy biggs gives us an update from capitol hill and a high school science teacher going on an anti-police rant about the kyle rittenhouse case. listen to this. >> he is way through. >> it is my turn. dave: jason rants has a report from seattle coming up. ♪♪
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dave: now to this, high school science teacher near seattle, washington stopped his class lesson on magnets to go on an anti-police rant about kyle rittenhouse. listen to this. >> the most appalling thing about this is he ran toward the police with his hand up and a weapon here and the police did this. they waived him through. seriously. if he was black would he have been waived through? dave: that is the teacher saying put your hand down so the classes and even allowed to respond to that. why is a science teacher talking to teenagers about this and telling students not to
respond to what he says? >> in this school district like so many others they decided to embrace the idea that teachers should be getting into political discussions with his name is kevin mcdonald, just north of seattle. the idea of put your hands down, it's my turn, you don't get a turn. you are holding these kids captive. you are indicating they better not say anything you disagree with or you might get on his bad side. got to take politics out of the classroom, not bring it in. this is a science class on top of everything else. when you get to a certain grade level, in certain circumstances to have conversations about current events, that when you are telling kids that they don't get a say and giving them your opinion rather than having open discussion about what is going on and encouraging people
to disagree and have civil debate you are going too far and he went to too far which is why the school district is investigating. i don't think anything will come of it. dave: one of the only positive things about the pandemic is it has revealed, the curtain has been pulled back on what is happening in classrooms because of remote learning. this happened in the classroom but are enough students alerted? those who have been converted, somebody recorded what the teacher said, he didn't present that tape. it is hard to keep these things secret anymore. the classroom is open for all to see and that is good news. >> totally agree and it reinforces the importance of having conversations with your kids. as one point before covid, i imagine some kids said xyz, got a little mixed up, that's crazy, your teacher is not
going to say that but now that these conservative parents got woke, they realize what is going on in the classroom -- dave: it is crazier than we feared, worse than we feared it would be. i to move on. >> not feeling comfortable recording. dave: the issue of crime itself which the teacher was talking about, there is a police shortage and it is not only the public safety issue, there 911 call center is also facing a staffing crisis so why would anybody move to visit seattle. you can't be safe to walk in the streets. >> it is getting dangerous. the 911 call center, 50% of its call takers, the dispatchers, 36% on floor operations staff. that means some calls are not
getting picked up for 40 seconds. the what that means if you're calling because your father is having a heart attack and you are desperate to get help. every second counts. when someone is breaking into your home and your calling and i live in think of the extra 40 seconds it might take to get someone just to pick up the phone and on top of that because of the staffing shortage in the spd it will take eight minutes to get to that emergency. that is a recipe for disaster. dave: what about businesses? they have been through so much from the lockdowns to the crime and all that stuff. are they fleeing seattle, moving to texas or elsewhere? >> a lot of businesses are doing it quietly, some doing it loudly but they are moving outside seattle. some of them are going across a bridge to bellevue so they are going 50 minutes away, but different outlook, not just on public safety but how it treats business. the council is going through a change. we ended up seeing not a conservative better business
from the democrat got on the council and most importantly in the seattle attorney's race, the abolitionist defeat it is i'm not going to prosecute those who commit a crime. what will happen tuesday of next week, when arguably the nation's loudest counsel socialist is up for reelection, she is up for a recall. we will see of her district -- dave: we will be watching, thank you for being here in the work you do. a group of republicans are prepared to shut down the government to protest president biden's vaccine mandates. andy biggs joins me next. ♪♪ i can find strength in a rest day.
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i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. dave: this was a breakthrough by peter gabriel and that is washington dc, relatively warm. eight major crypto firms called to testify before congress next week, the first time crypto companies have to testify. politicians all over the spectrum have called for more scrutiny of cryptos.
the republicans threatening to shut down the government to protest vaccine mandates. congressman andy biggs, republican from arizona joining me now. i kind of wonder why you would push this. through the legal system these vaccine mandates are losing, court after court three decisions this week, a couple decisions last week. the administration is losing in the courts. why not let that process play itself out? >> a couple reasons. number one you have five different mandates. those really addressed two of the five mandates in court decisions so far, three areas where you haven't seen any resolution yet. second thing is what happens is we could have a chance to stop this now and prevent them from codifying this from overruling any kind of court mandate going forward as well so you have
multiple reasons to keep going and i guess the bottom line, the legislative branch has been ignored here it has to assert itself when the executive branch is engaging in unconstitutional conduct or behavior and we don't know what the courts will do in these other areas are what is going to happen when further appeals come because the administration will keep doing this. dave: are you at all concerned about getting blamed for another government shutdown as we look forward to the 2022 midterms? >> we always get blamed as you know and we changed that last time. people will get checks. if you're getting a paycheck if you are on salary and don't get your check, you get back pay so last time we put in measures to protect that, so the notion of
a governmentwide shutdown is overblown because of the measures we took last time. dave: you are close to the border, what about this announcement by fauci that all these tests for travelers. if you walk across the board he can't say if they will be tested or not. souhey are up 400% in the first two months of this fiscal year. dave: and you put the blame for that on immigration policy. >> the policy is what is driving that for sure. dave: we thank you but very quickly, kyle rittenhouse losing his position at arizona state, a public university. what do you think of that?
>> i have a problem with that. these folks can complain but look who is complaining, death to america, violent signs, this guy went through due process, found not guilty, has the right to move on with his life, we have to treat it with respect for anyone who has been acquitted like he was. dave: going to take any action against the university? >> that the state issue and i'm encouraging my state friends to look at this closely. i have been talking a lot about it. dave: congressman andy biggs, thanks for being here. now it is time for the thursday trivia question, this question has me and lauren and stage manager davi does not have a stomach? the decision the various possibilities we have, we will give you the answer coming
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in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763 david: so we asked you before the break which animal doesn't have a stomach? lauren, what do you think? >> i said one, platypus. david: dave? platypus. i got to go with platypus. that is the answer. who knew? by the way how many stomachs does have cow have? >> three? david: three is close. david? >> four. david: four stomachs.
a cow has four stomachs. that is as far as i can go folks nasdaq is up as well. s&p up a percentage point. don't forget to send in "friday feedback" email. varney viewers at folks.comb. you might see your question on the show. you will next see mr. neil cavuto. take it away. neil: thank you very much. we're seeing run on corner of wall and broad. at least today, they think they have this omicron thing understood. it will not get out of control. lo and behold middle of that we get confirmation of yet another case. this one in minnesota. that is probably not shocking too many people but the fact that the individual who contracted this vary can't had visited new york city. bumped into