tv Varney Company FOX Business December 10, 2021 9:00am-12:00pm EST
christmas sweater on sale 40,000 dollars can you believe this sweater more than 150 diamonds, 2 swaraski crystals. >> i would rather jeweler on wrist, jillian: great to be with you. have a fantastic weekend. djokhar tsarnaev begins now. >> it wasn't that ugly, just wildly overpriced. good morning everyone. let's get straight at it. inflation is a big problem. is the latebreaking number. of the letter the prices you paid went up 6.8% as the sharpest inflation surgeons 1982. used about food and energy and
the call price up 4.9%, the highest since 1991. in most industries inflation is now outpacing wage gain. in other words workers are getting worse off. the president believes $4 trillion bills back better plan will lead to lower prices and expect inflation to moderate in the weeks and months ahead but with inflation eating wage gains the president has a political problem. investors worry about the federal reserve whose job it is to kill inflation but investors are not worried. the market reaction to the cpi number, the dow is close to 200 points, s&p, 35 and a solid gain for the nasdaq up 130 points. as for the treasury market the 10 year treasury yield is down a little to one.49%. this is not what some of us were expecting. the high cpi number was baked
into the cake already. bitcoin still below 50,$000 for coin. that's the market reaction to a 6.8% gain in inflation. next case florida doing so well and growing so fast, the state needs a new area code. south florida booming, the 3 states. chicago considers closing off its downtown, trying to prevent more violence and hold the smash and grab, and they've say they've got nothing. big smile, look at this was the fox tree is back. rebuilding hours after it was burned down wednesday morning. the man who allegedly did was fodder across the street last night during the lighting ceremony. friday december 10th, 2021, varney and company is about to begin. ♪♪ rocking around the christmas
tree ♪♪ a happy holiday ♪♪ >> it back, fox's all-american christmas tree shining brightly. sites of resilience and hope. look who is here now, lawrence jones joined me now. this is a great thing to see and you were there. wish i could have been. >> we were not going to let someone who's an arsonist get the last word. they got together as a company or a nation to be part of this fox family. we real it that 3. of the guy who set the tree on fire, is by fox news again,
that is unacceptable. will: today it is your birthday, is it not? are you going to tell the audience how old you are? you are young enough to be my grandson. >> reporter: that is the fact that you look good, no one will ever know. my last year in my 20s, doing what i love every single day, people who have been incredibly kinds. looking at issues of the day, doesn't matter to them, supply chain crisis, crime happening in america, an honor to be here. stuart: you work and you really work, yesterday you were on the set with me, 5:00 you were lighting the tree in new york, nashville, tennessee, doing standups and you are on with me again, you work for your money. happy birthday.
>> reporter: i will sleep when i am dead. stuart: you will sleep when you're my age. merry christmas. lauren, back to the inflation situation, we've got get serious about this. lauren: look at the markets reaction. it was up 6.8% in november from last year, the fastest pace since june of 1982, wide range of goods. apparel up one.3%. if you are expecting to get cheaper close to the holiday season, not going to happen. airfare up 4.2%. gasoline up 6.one%. as i said investors seem to know if this is baked in and they expect the fed to not accelerate even more. stuart: only time will tell. that's what people are saying. let's bring in market guy of the morning, consumer price
inflation, 6.8% over the past year. how come the market is responding like this? and interest rates have gone down, not supposed to happen with inflation news like this. >> this has been well telegraphed. they prepare us and have been telegraphing it. market is taking it in stride. as the fed announces doubling starting in december, when the fed is no longer there as buyer of last resort watch how fast prices start to fall and that is my fear. today i'm not sure why we are having this reaction, it is not worse than expected, not a 7 handed whisper number. monday's number, we will see if
that happens but they managed to keep everybody calm the last couple weeks of the year. stuart: any selling in the immediate future? >> i'm not selling the thing. stuart: that the confident move if i ever heard one. why not? >> long-term portfolio, i like the pieces, it is not changed so therefore i am not going to move around. if the market is going up, i am happy if the market backs up, money to put to work in names like my stocking stuffers ibm and put more money into ibm, if the market backs up a little bit. stuart: what is so good about it? >> i love old tech, i love their supercomputing division and that alone is a $60 billion company.
that is better than what prior history had. $10 billion in cash flow, 5.3% or $6.56, all that to me is good going into a turbulent market in early 2022 but i'm happy to go with big, old, and boring. stuart: i've been nervous, bringing my hands, whether it is covert or omicron or inflation or whatever it is, i was expecting a market reaction. i was wrong, kudos to you. did it right. >> if you are nervous don't go selling every thing, building downside protection. as long as you like them and the thesis for them has not changed, why sell?
stuart: all right, you got me, you got me. we will see you next week, see you again soon. here's a story from google, executives are addressing their employee's concerned about rising inflation. >> we are not giving you this across the board to match the increasing cost of living. the announcement was interesting, all hands-on meeting they had virtually. in order for question or topic to be addressed, have to have support from the google others, we are concerned about inflation, management said no but they said two things i found encouraging, you've already seen a boost in your pay, that the cost for google and second, they are inclined to spend more money on raises for performance.
if you are really an out performer you will likely get more pay. stuart: if you are really out there striving you can get a little more. stocks up, not bad this morning 3 quarters of one%. look at futures, this is how the market is shaping up to open this morning. strong gains across the board,. haqqani, even after some in the mainstream media supported his hoax. >> >> the media cast so much doubt on your story which i find personally offensive. >> senator cory booker said this was an attempted modern-day lynching. >> this is america in 2019. >> smollett petaled his own lies in the media bought it all. doctor fauci offers instruction for your christmas party.
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across the board despite the 6.6% inflation rate. research aside to determine whether an omicron specific vaccine is needed. what more do we know? >> and the fda, emergency use authorization for booster shot to include 16, and 17-year-olds in addition to adults who have already been getting at, the expansion comes amid growing evidence the third dose of vaccine provide strong immune protection against the omicron ferry and even though the new strange is increased resistance against the standard to dose regimen. research is underway to
determine whether a new omicron specific vaccine needs to be developed and whether periodic boosters with existing vaccine would be enough to keep the new variant under control. >> natural immunity is limited and to a short-term, 4 to 6 months but so is vaccine induced immunity. based on the vaccines available today we should anticipate you have to be vaccinated every 6 months or so. >> reporter: most omicron cases detected in the us including a cluster associated with an anime convention last month of the relatively mild and a leading public health expert in south africa where the variant was first detected says even the small proportion of cases requiring hospitalization have involved less intensive treatment on average.
>> delta, two out of every three patients admitted to our hospitals required oxygenation before and or ventilation. in the current wave, only 104. >> for now, it appears omicron may be less lethal than previous variants but researchers warn it could be more infectious and are cautiously watching it to see what the chances are that it may overtake delta as the dominant variant worldwide. the holidays are upon us, time to gather, listen to what doctor fauci says we should do. >> people should if they invite people over to their home essentially ask and maybe require people show evidence they are vaccinated. stuart: doctor mark siegel, you heard that.
should we make our guests show proof of vaccination? >> the host should not be an extension of doctor fauci. i can't imagine somebody dressed as santa claus wearing a doctor fauci mask, that's going too far with this police state idea but i agree with this excellent report which is boosters are working and seeing it dramatically in israel with a drop in severe cases and deaths by 90% so i encourage everybody to take personal responsibility and consider boosting. if you had covid previously account at least one shot, getting over covid has substantial immunity as well but what i want to see, if the government is going to get in the business of christmas i would like to see a couple things. where is the rapid test in every home i was asking for. avid stock is steady at 132 premarket but what would it be
like if the government got together if there was a home test kit for every house in america, that's how we would know if you are safe at christmas, the second thing is where is the fda, pfizer's new miracle drug for covid 19 decreases hospitalizations by 90%. that's about to go to the fda, i want that approved by christmas and available every home. pfizer's prices down again, one.4%, premarket trading. we were puzzling over that. if this bill comes out and is what i think it is, pfizer should soar. stuart: we are hearing a lot about this, 120,000 new covid cases a day up 30% in a couple weeks, do we know how many of these new cases are omicron and can you tell me if anyone has died from omicron? >> great questions was very few are omicron.
omicron is still probably 100, 200, 300 cases but it is going to increase and let me tell you something. in south africa, 20,000 new cases a day, deaths from covid less than 25. this is a very mild variant so far and if it spreads widely and crowds out delta you may see less hospitalizations and deaths that is what may happen. omicron is fear mongering. the variant is out there, crowds it out we are in better shape. >> thanks for being here. they reduce service in january.
and >> they were fully vaccinated. they were adjusting. if you look at rydership, 32 million in 2015, 12 billion people riding amtrak and major veneer -- $66 investment. stuart: they have cut service because of a vaccine mandate on top of everything else. lauren: 15 long-distance routes. let's check those futures again. "the opening bell" it next. ♪♪
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intermark mamahaney. do you think facebook is a good investment because it's going to the meta-verse? >> that's part of the option value behind facebook. i'm skeptical it is a replacement for the mobile internet. we are have the ability to hopefully address the concerns little against the country, the head of instagram this week if they can successfully address those concerns there's a chance for re-rating the stock. it looks attractive on facebook. stuart: where is it going? >> if you can get the 430, it dislocated 15%. and the assets became disruptive.
taking on the ability to do targeting for advertisers based on political views or religious beliefs, they limited facial recognition features in the tool and what they talked about yesterday as they included more tools to allow decreased parental control over teenage usage but if they do it successfully it will remove what the stock currently has. stuart: see if we've got this right. it seems to me this meta-verse thing however you want to define it, the meta-verse thing in 2021 is just getting going, just emerging. can you say the meta-verse today is like an internet in 1990, just getting started, just emerging? is there a similarity? >> you could say that but i wouldn't agree with you but you could say it. but there is something there.
the liberty, something called oculus. they have virtual reality head sets out there, they sold 10 million of these devices. as they get better each iteration they get cheaper, easier to put on as me putting on my glasses, then you do create the ability for a new paradigm, the open question is how many people really want to spend a lot of time in virtual reality but more and more of us are going to do it. stuart: my grandchildren and will be doing it. if i was going to invest in the meta-verse i would invest in ships, computer chips because i think the meta-verse will require vast increase in artificial intelligence computer chips. >> absolutely. they will be software as well situated against the meta-verse. there should be opportunities for the leading chip companies, those names should be good but the question is how long will
it take to be a material part of investment. stuart: we will leave it with meta-going to $440 a share compared to the 330 quote now. thanks for being with us. appreciate it. see you soon. "the opening bell" will ring in a few seconds. you get this every day, they reach down, the bell rings. we are expecting to see a lot of green on the screen when we open up despite 6.8% surge in inflation. friday morning we are off and running, the dow is at 35,900, up 150 points, close to half a percentage point gain. the s&p on the upside up 2 thirds of one%. a solid gain for the s&p, the nasdaq composite up 3 quarters of one% against a solid gain. show me big tech, microsoft is up 350.
apple is at 175. of that, amazon, meta-platforms on the upside. show me tesla. they are slightly higher. even though elon musk has been selling more shares. >> $963 million, his fifth week of selling and slow pace because he's doing the 10% stake. the twitter poll when he wraps up saying by christmas that pressured the stock up a little bit 17% since that pledge. stuart: selling a lot of stock. why not? oracle, show me that. a company that size up 18%, 20%. what is this about? lauren: more employees are
working from home and they need to invest in the cloud. boosting oracle's numbers over the top and bottom line, a record price and the best they for shares in one and a half years. blue and cloud operators should be doing pretty well. lauren: ten brokerages, the highest was 126. it is doing well. brought home is doing well. stuart: that is astonishing. 18%, broad, 17%. lauren: they have a share buyback plan, $10 billion and also raise their dividend by 14%. not just demand they are saying but sustained demand is much the same story. stuart: chipmakers moving away from it, solid gain. lauren: our new frontier. stuart: built into the chip. stuart: it will require enormous computing power.
costco, saw the earnings report pretty strong. where they affected by supply-chain problems? lauren: that is why the response is nice today, $50 billion in revenue, gain of 16%. delays in toys and holiday items. the cfo sense of inventory won't make it before christmas and investors taking that in stride. proactive measures like losing additional containers chartering ocean vessels, to get products, there might be shortages but they did a good job. stuart: i love that store and loved it for a long time and should have seen the stock price coming. back in the day, $100 a share, 530.
lauren: why do you love costco? stuart: the prices, the way the stories laid out. one dollar and $0.50. moving swiftly along, pellets on down $40 a share. credit suisse cut their target price for over 100 bucks down to 50 and it is now 40. lauren: they went from 112250. the reason is people are going back to the gym. because of that, they are discounting product and spending more on advertising and i have to discuss this with you. this reboot dropped the first two episodes on hbo max, terry bradshaw's husband died from a heart attack, and i was thinking with this be good or
bad for the stock, talking about the sex and the city reboot -- stuart: that is interesting i didn't know that. they had a problem years ago, when they had an accident with the treadmill. $40 a share. pet people i down big this morning, 6%, is that because of supply chain? lauren: shortages of wet dog food, dealing with more lost sales, labor shortages, inflation, higher cost of goods, shares are down 6.3%. stuart: last one, beyond meet in trouble recently, they are in trouble now, have a broken it up for a relationship with taco bell?
lauren: taco bell and yum brands canceled their taste tests of the beyond meet fake meat because they didn't like the way it tasted. this is another black eye because they had pushed back from grocery stores and fast food chains they partner with. stuart: i can't imagine going into a fast food restaurant and asking for a meatless burger, plant-based food. can't imagine doing it. lauren: people are concerned about health and the environment. the population might have been saturated. this is the big deal a few years ago and now if you go into a fast food place you want -- stuart: the winners, looking at down when is on your screen, left-hand side of the screen, microsoft and salesforce, dow, doing well.
s&p 500 top performers there, of course it is oracle, 17%, 18%, massive gain for the stock. nasdaq winners at the top, brought him dealt with that one. lauren: costco on the list. cadence design. stuart: plenty of winners, the big board is up 162 points. if this rally continues, the best week for stock since february of this year. the 10 year treasury yield despite the inflation news, one.7%, going down. the gold despite the inflation news is only up $3. bitcoin because of the inflation news, 49-6 is the bitcoin quote. oil is at $71.50, natural gas, has it made it above $5, still at $3.88, that is dirt cheap. the average price of a regular gallon of gasoline is 333, the
-- in california we check every day for 468. the president stumbling through a pair hes. it wasn't pretty. >> president biden: where am i? i am right here? look. we can find that unity again. the message said end a message. stuart: the first lady says any concerns about the president's mental fitness are ridiculous. we will follow through. some in the media couldn't get enough of hillary clinton reading her would be 2016 victory speech. >> i hope it is available in history. i thought she was so brave. stuart: there is more where that came from and you are going to see it too. chicago's answer for smash and grab robberies considering closing the downtown area entirely which was and still is
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stuart: that is a pretty bridge, the golden gate bridge, go across there every single day of my life way back when. 46 degrees in san francisco. i want to look at apple, 176.02. if it reaches $182.85 it will be worth $3 trillion, $3 trillion. let's bring in our expert on big tech. have you any doubt that it is
going to hit $182 a share and therefore $3 trillion and where does it go after that? >> no doubt at all it will hit that number. august 2nd, 2018, $1 trillion, august 19th, 2020, they got $2 trillion. this is what digital giants do. the combined market was $2 trillion, now it is almost $11.5 trillion. apple has the services, the product on the back end. stuart: are you factoring in an apple car in these glasses, are these are factored into your idea about apple going up to 200? >> not yet. this is basically the iphone, the refresh with the m1 ship, the product derivatives coming, the service business on the back end and then you can add potentially a car or glasses
that are coming up but that is before that. to get the $4 trillion you have to get that. stuart: you look at the electric vehicle market and you like three, tesla, ribion and pole star. are they the winners in this battle to dominate electric vehicles? >> on the global level i think, tesla because of battery capacity, a big lead on that. it is a combination of volvo that sold 29,000 cars, in the next 2 or 3 years, 290,000 cars, the european and chinese market down and ribian is going after market to the hasn't been able to launch which is a sport-utility truck area. they have the orders and amazon backing on the other end. stuart: what about ford and general motors? >> ford has a great role with
the f 150, general motors and volkswagen will be playing that space but the big winners from an equity point of view, that is where tesla and rypien come into play. stuart: we will be watching. see you again soon. carjackers found a new way to track their targets, putting apple a tags on cars and following drivers to their homes. the cyber guy is with us. how does this work? >> any $29 apple a tags that are trackers that have been so successful they were introduced last spring? >> might have one. i have a christmas gift idea. i wouldn't suspect using them in this fashion. warning to those out there, apple's tiny air track tracker that sells for $29 is capable
of tracking anything, that is why police say it is the latest tool to steal cars. here's how the air tag part of scam works. car crooks sees a desirable car in places like the mall or restaurant, they attach one of these tiny trackers to your car by placing it near the gas, on trailer hitches. on an f150 they see one insider trailer like thing where they lift the flap and put it in and taped it under the bumper. car crooks follow your car home on their screens to see where you live, then steal the car. if you have an apple iphone you might get tipped off in time to do something, air tag send a warning to iphones they are being tracked, if you see one of these measures, safely pullover, follow the on-screen instructions to make the attack
be by selecting play sound. if you can find it apple shows you how to disable the air tag. i do this in a public setting where you are not by yourself in case you are being followed. tips to keep from falling victim to this new high tech car ripoff scheme, park in a garage whenever possible and if you have to park outside, block one car with another car making it more difficult and use good surveillance cameras, under $40 and deploy one of those steering wheel locks. stuart: that is high tech car theft if i ever saw it. thanks very much, see you again soon. the cream cheese shortage going beyond bagels. a pottery cheesecake place taking a hit. we've got details. the outgoing mayor of new york city, refused to comment on the christmas tree burning but eric adams doesn't staying silent, he's the incoming mayor, perfect example of why we need bail reform.
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stuart: america's crime crisis, mayor elect eric adams slamming bill reform after the fox tree arson suspect was released. >> the arsonist watched the tree lighting last night because he was released without bail, he came back to look at what he did. eric adams said he would do it again, continues to wreak havoc because especially for repeats offenders, the judge should have taken into account his record saying he's been arrested before and released without bail and the fact that they released him again is a continuing problem in the city and it has to change. stuart: i need more on this. give us an update on the suspected arsonist who was seen
outside during the tree lighting. >> he was a half a block away. i couldn't believe it and i couldn't believe it. i was talking to fox news security and they said this guy was on 40 eighth street have a block away, he could've blended into the crowd and done something horrible again. i love what eric adams said. he is absolutely right and that is why he was elected. is going to be tougher on crime and this guy has 3 prior arrests, charged with 7 different things and apparently lighting a tree on fire which could have been a much more dangerous situation is considered a nonviolent offense, he's let back out. in what world does that make sense. stuart: but it is all part of the big story about the decline in public order in our major cities as a result of democrat policies.
ashley: the crime wave is a major business story, inflation going through the roof, supply chain issues and the smash and grab, looting, small business owners who went through a pandemic have to face getting robbed or having to pay for private security, such a massive call for them. the question becomes what is the biden administration doing? crime is usually on a local level but president biden can put pressure on das on the fact the 12 cities just saw a record murder rate. this is a national issue. make a speech about it, stand up and do something. there is no leadership at the top on this issue and turning a blind eye to what is going on in the economy. stuart: great to see you bouncing back and rebuilding so quickly.
thanks very much indeed, see you soon. check the markets. we have plenty of green, dow industrials up 100 points, the nasdaq up 44. still ahead, florida, son byron donalds from the booming state of florida, steve hilton from the formerly golden state of california, bill bennett on the starry state of education and tammy bruce on the president's mental capacity. the 10:00 hour of varney is next. ♪♪ so excited ♪♪ and i just can't hide it ♪♪ and i know i want to ♪♪ ♪♪ didn't ...
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♪ mom and dad can hardly wait for school to start again, it's beginning to look a lot like christmas ♪ stuart: good morning, everyone, 10:00 eastern straight to the money, please. we still have a modest rally in progress. the report of 6.8% inflation earlier this morning we had a nice rally at the start of the trading session, its faded a little, dow is up 120, s&p 21, nasdaq 42. bitcoin, where's that? 48, 400, the 10 year treasury yield, where is that? it's at 1.46% now, imagine that. you've got this inflation news,
and the yield actually goes down not supposed to be that way i don't think. we just received this. new york's governor hochul announced that masks, masks will now be required for all indoor public places unless businesses or venues implement a vaccine requirement, let's get that sink in a little and i'll get back to it later. just got the latest read on consumer sentiment the number please, lauren? lauren: better-than-expected came in at 70.4 for the month of december but if you look at the annual numbers from december of 2020 it's down 12.8%, how we feel about things right now, current conditions on the annual basis, is down 17.1%, and going forward, expectations, annually that number is down 9.1% so we're in a lot worse shape than we were in december of 2020. stuart: that ain't great, no immediate response on the markets but now this. president biden has an inflation problem.
prices are going up at the fastest pace since the late 1970 s, early 1980s, everybody knows it, everybody sees it, but the president hasn't got a clue how to deal with it. he thinks that spending another $4 trillion on his build back better plan will somehow control inflation, and, he says, it won't cost taxpayers a dime. you know, it's dangerous when a president and his party abandon economic reality, so what is causing inflation? well, it's the wall of money that's hitting the economy, it's congressional hand-outs that's made so many consumers flush with cash, biden wants more of it by the way. it's the supply chain mess that makes things scarce, biden has done nothing to fix that and it's the biden crackdown on energy production. the solution to this inflation problem maybe very painful. it will not be build back better , that won't solve inflation. it's the federal reserve that's going to have to do it. now, when inflation spiked in the late 70s it was fed chair
paul voelker who sold it by inducing a very deep recession, it was exceptionally painful but it had to be done, so what about now? it is the fed's job to contain inflation and they do it by raising interest rates and when they do that the economy slows, sometimes dramatically. that's what's coming at us, and it is the biden administration that's pushing us over the inflation cliff. second hour of "varney" just getting started. first lady jill biden dismissing any concerns about president biden's mental fitness. she calls those suggestions ridiculous, but watch president biden's performance on stage in kansas at a tribute for bob dole roll it. >> where am i? >> right here, sir. >> look, we can find that unity
again, and the message said, end of message. stuart: okay, tammy bruce is here. this is difficult to talk about, we're looking at the president's ability, cognitive ability. probably, it's the whole country especially when you bear in mind that we've got vice president harris standing in the wings, go at it. >> well and of course americans recognize this. millions of americans have family members who are dealing with cognitive issues, so we recognize that ourselves, and to hear the first lady dismiss this , jill biden is more of a political animal than i ever imagined, because i always thought she wouldn't even let him get to this point or even be serious about a presidential run because it was clear he was having issues, but obviously, she's made some kind of decision that this is worth it which is a shame, because it's not just, as you've said, the nature of what they're dealing with necessarily personally, but we see it as americans, and as we've heard with these number s today on your show, americans worry. now might not be in the front of
our minds but we recognize that we have a president whose not necessarily capable. that adds into our issues of optimism and looking to the future, and then, our enemies see this , and all of this , it's seen by our enemies it moves into the calculations of putin, and xi and in north korea , iran, everyone is thinking now is the time, because it's recognized that the american president matters when it comes to a sensibility about power, about security, and we should be concerned but the fact that the first lady, now, i think she's 70 now at this point, but there's someone of some responsibility who must step up and say enough is enough here. stuart: it's really extraordinary, especially when you have vice president harris waiting in the wings in whom there is very little confidence. >> biden-harris and then pelosi pelosi is third in line, so when we think about the nature of the political structure, we are, we should be concerned but then
is the first step perhaps whether or not vice president harris remains, if there's some kind of move to have at least a second in line who could handle a major catastrophe? remember, we're in trouble now, but what if the unthinkable occurs? a combination of russia and china moving in the world, north korea doing something insane, iran announcing they have the bomb, our troops are, we may not want to put troops places but our troops are in japan. they're in qatar, bahrain i should say. we're in germany. our loved ones remain, tens of thousands of them at serious risk if there's any action by an enemy around the world even if we have a policy of do nothing policy, this is why we must ask for some kind of action , and not just sit back and frankly, a malaise, not just with covid but with politics. stuart: it's a very difficult situation to be in but we are in it, tammy bruce, thanks for being here. >> thank you, sir. stuart: very much indeed, now
we're going to be watching you by the way 7:00 tonight, fox news channel, you're hosting right tonight 7:00. >> thank you, sir. stuart: we'll be watching good stuff. thanks very much and back to the markets, please. the rally that we saw at the opening bell has narrowed considerably. the dow is up 100, nasdaq up 50, s&p up 22, jonathan hoenig with us now. jonathan you saw the news this morning, consumer prices in the past year up 6.8%. that's a very significant surge. what inflation hedge do you do, do you use i should say? >> yeah, you have to kind of go where the moneys acting and that inflation number is stunning. it's important to remember that it has caused 100% by government , this is really biden 's inflation and no one can avoid it but there are certain types of companies that in effect benefit from it. it's almost like a subsidy and those are companies that the can most easily raise prices and in hyper-inflation prices are raising every hour, everyday. we're not there yet but companies like estee lauder, abbott, apple, hersheys,
mcdonald's, these are all stocks making new, all-time highs or at least multi-year highs right now, and my belief is it's because they can so quickly add-on a few percent, a few higher prices to those consumer goods. stuart: so stocks are your inflation hedge, it's not so much gold or whatever. it's stocks. >> yeah, it's certain stocks, i mean, i've gotten i think the word is keester handed to me , so i'm a little more respectful of that trend right now but it's really being focused, stuart, interestingly in a few names, 60% of stocks are below their short-term moving average about 55% are longer term moving average, so its been a narrow advance but people are almost seeking safety in those big stocks that are flushed with cash. stuart: are you worried, like me , that at some point the federal reserve has to step in and stop this money printing and raise rates, and when they do that, the stock markets got a problem. you with me on this? >> well, you know, the fed is
always late, like any central planner, stuart, they're always wrong so just look at the yield on the five year note, basically if you bought a five year government bond, at the beginning of the year it started at about .3%, now it's at 1.3% so it's a big change and a big sign that in effect the fed is behind the market and the market is telling us, higher rates are needed and higher rates are on the way and i'll tell you stuart , some of the examples in the last couple weeks where parts of the yield curve are starting to invert. we haven't heard people talking about that and it's a usually a good sign recession is on the way. stuart: exactly it is jonathan thanks for being here today have a great weekend, in chicago. enjoy yourself, if you can. lauren, let's have a look at moderna, huge drop. 9% the problem? lauren: they have a flu vaccine that uses mrna technology that's the same tech technology, it underperformed in trial and that dashes hopes for combining the flu and the covid shot in the mid-term.
stuart: okay, so c 3 ai? lauren: artificial intelligence company, look at this gain up 6% it was up a lot more earlier they inked a $500 million contract with the department of defense to use their artificial intelligence to go after criminals. stuart: okay, i just saw tesla drop below a thousand i think it's still below, yeah, 993 the story? lauren: there's a report that tesla has stopped taking new orders for model s and x orders outside of north america, the translation is europe will be without the s and the x for a year and a half. they're still catching up to the backlog that started in north america when california factories shutdown. they kept taking new orders from other parts of the world, and now, they're backlogged. they can't fill them so they expect deliveries, in other markets to start in the second half of 2022. stuart: that will hurt if you can't deliver the cars and sell them you've got a problem. lauren: stop taking new orders. stuart: it's at 990 right now. elon musk, he makes a headline a day. now what's he saying?
lauren: i wonder if there's truth to this this is what he tweeted to his 62 million followers. thinking of quitting my jobs, he's got a lot of them, and becoming an influencer full-time okay, wdyt, it took me a long time to do this , what do you think. stuart: oh, that's it? lauren: that's his lingo. i asked a lot of people, so he didn't elaborate but yeah, he's totally an influencer, he re shapes how we think, how we commute, as he heads up tesla, the boring company, the tunnel company, spacex, as well as nor alink. stuart: he just likes to make a headline a day. i bet he watches us to make sure we're doing his headline of the day. lauren: he's got to be awfully tired though. stuart: seems to have a lot of energy. lauren: maybe gives up one of those companies. stuart: who knows what he's really doing. lauren: it changes all the time. stuart: thank you, lauren all good stuff now look at this. a 2019 tweet from senator corey booker. it reads, the vicious attack on actor jussie smollett was an
attempt at modern day lynch ing. i am glad he's safe. smollett told the word he had been beaten by white trump supporters but it was all a lie. we are seeing biggest inflation spike since 1982 president biden says that does not reflect today 's reality. well, what reality is he talking about? because a majority of americans disagree. we've got a report on that. >> so many people are moving to south florida, they need to create a new area code for your phone. florida congressman byron donald is here to talk about his state 's literally booming economy. >> ♪ welcome to miami ♪ flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com
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>> ♪ i really can't say, it's cold outside ♪ stuart: if we haven't put the little bug up at the top of the screen saying mount shasta, california you'd never guess where that mountain is but it is mount shasta, california plenty of snow there and it's what, 29 degrees right there right now those markets, well i'm afraid they aren't in such a strong rally mode, as we saw earlier today. the dow is up 80, had been up about what, 250, 300 at one stage and the nasdaq composite is still up 100 points and look at this , big tech especially look at microsoft. microsoft is gaining a $7.70 as we speak, 2.3%. that adds 50 points to the dow industrials. breaking this morning, inflation reached its highest level in 39 years. edward lawrence at the white house, all right, edward, president biden just released a statement on the inflation numbers, what did he say?
reporter: yeah, they are basically downplaying the number s they're saying this number looks backwards, this does not include the decreases in the increase of price and cost that they've seen over the last couple of weeks. still, a bad looking number right now. you can't deny it 6.8% is what c pi inflation is. the last time it was that high was june of 1982 when the movie e. t. was released, core inflation was at 4.9% over the past 12 months the highest level since june of 1991, now when you look at specifics, food items, for example, cereal and bakery products, meat, fish, poultry eggs up 12.8%, fruits and vegetables up 4%, going out to a restaurant full-service meals up 6%. the white house economic advise or brian dees trying to get in front of these numbers yesterday telling americans it does not really reflect the fact that gas prices have already started to come down. listen. >> i want to provide a little
bit of context on that front as well. the first is that that data is, by definition, backward-looking so it won't capture some recent price movements, particularly in the area of energy. reporter: still, triple a says the average gallon of gas is $ 2.34 a gallon, that is down only $0.03 from last week, now, oil watchers say the price of oil dropped because of fears over the omicron variant causing potential lockdowns. the worry about that republicans are saying the president's policies are causing all of this >> this president is making the world less safe. he's making america less safe and he's certainly making america less prosperous. reporter: still, inside the numbers here, heating, the price of heating is up 59.3% year-over-year and we're moving now into winter, as you know. then we see the price of overall food increasing 6.1%. now remember here, that wages have increased 4.8% over the
past year, overall food itself up 6.1% so stu, the numbers look very very bad. stuart: yeah, we see it, we feel it got that edward thanks very much indeed. let's talk exodus an estimated 33, 500 people have left new york and moved to florida between october 2020 and july of this year as the state sees what is really a boom, south florida is forced to create new area codes to keep up with the growing population. look whose here, congressman byron donalds, he's from florida , he joins us now, congressman, to put it mildly, your states booming, isn't it? >> without a doubt, without a question. every time i'm somewhere in florida, there's a new resident who just got to the state, typically from the northeast, because of frankly terrible covid policy and you also factor in the situation in our economy in florida where we are open for business, have been open for business, we have an awesome business climate and people are flocking to our state. stuart: i like the way you're
trying to, the state of florida, is trying to get ahead of the game in some respects. i noticed that florida is putting $5 million behind orlando's bid to host the 2026 world cup. now, i don't know whether you know about soccer, but the world cup is a gigantic event, on par with the olympics, without all the political problems. you really want to get out there , don't you? >> listen i will tell you right now if the world cup comes to orlando i'm going to be there. orlando is a big soccer town now , it's really transformed the orlando city really good club, if you're in orlando there's a great lot of energy around the club, so it make sense for us to have a bid for the world cup, they'll do far better in the great state of florida than some of these destinations around the world i can guarantee you that. stuart: do you have a team in the premier league from england? >> no i don't have a team. i'm american football not soccer but it's okay. i love the game, i love watching it, played as a kid but i don't go that far with it. stuart: oh, man you used to be
one of my favorite congressmen. you still are. you are. here's another one where it looks like florida's trying to get out front, out ahead. governor desantis, he's proposing to let businesses pay state fees with crypto. what do you think about that? >> i think it's a value, cryptocurrencies have value. obviously, we see it on the markets every single day. you can translate that to united states dollars, united states currency so it makes total sense we want to make sure that we are an open government so people can access our government when need be and if they can make payments using cryptocurrency that's even better. stuart: when was the last time you came to what i call an authoritarian state, new york , new jersey, california, chicago, illinois, when was the last time you got out of florida and saw how the other half lives? >> listen i was in new york about two months ago. i came in i came out got out as fast as i can, and it's really really sad because i'm a new yorker, born and raised brooklyn, new york, but some of the policies they have up there are just crazy, and i want no
parts of it. stuart: what's it like? okay, you grew up in new york city, you're a new york city guy compare and contrast. when you went back a couple of months ago, what was it like compared to when you were there as a youngster? >> listen, the city had no energy, it wasn't really vibrant , they were just coming off the radical lockdown policies of and use cuomo and bill deblasio, and it just didn't inventory feel that new york typically has. it has always been the livest city in the world until these radical democrats got a hold of it through covid-19 and it's really just destroyed the place. washington d.c. to be frank is the same way. it has not returned to what it was pre-covid and it's quite sad to see. stuart: is there any place in florida which has not returned to the bigger and zynamism it had before covid? >> oh, no, nowhere in florida, matter of fact florida is reaching new heights that the states never seen and that's because we have conservative leadership that allows people to live their lives, our business environment is great, obviously the weather is what it is, we're not just a destination state.
we're the best state in the country, and that's why so many people come to the great state of florida every single day. stuart: sir, last one. if you came up to new york, new york city, and i invited you out to lunch, and we went out to a restaurant where you have to show your vaccine card and you have to show your id, would you go in that restaurant? >> no, man i'm going to wendy's , they can keep that i'm not having that. stuart: [laughter] byron donalds, sir you are all right i hope you do come to new york and i'll buy you mcdonald's come and see us. >> anytime. thanks for having me on. stuart: see you. look at this , google, the stock is up not much, half percentage point but there are reports that that company, google, will give a one-time bonus of $1,600 to employees worldwide, including its extended workforce, and its interns. they're doing this because of the delayed return to work, 1,600 bucks across-the-board, they can afford it. the governor of texas has created a hotline for employees
to report companies that impose vaccine mandates. uh-huh, how about that? we've got the story. the transition from remote to in -person learning hasn't been easy, after months of closure, school districts say they're ses acting out, bad behavior. former education secretary bill bennett takes that on. >> ♪ we're the kids in america, everybody listens to use ic all around ♪
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and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. stuart: yeah, the rally is fading, a little. the dow is up 100, nasdaq is up 100, s&p is up 20 i guess it's still fairly solid let's put it like that. we're looking at the movers, and we're going to start with general motors put it on the screen please is it up, down , or sideways it is up 2.8% not bad. lauren: look at the under them m p materials is also up 2.7 %, gm is sourcing rare earth materials for ev batteries here in the u.s. , this is a shift away from china, it's a big deal mp materials is up in a big way yesterday, it's up again too, general motors is as well and they're going further also working with the german company to setup right here in the u.s. a magnet facility. stuart: that's very nice rally
for general motors. lauren: moving the supply chain. stuart: week ago they were at 51 , now they're 61, got that. apple new high. lauren: within striking distance of being worth $3 trillion. just a year ago, they hit $2 trillion, they're up 80% in 2020 up 30% this year, it's all about, you know, product and the safe haven kind of status that these achieved so they have to hit what, 182? stuart: 182.85. and they are bother 3 trillion bucks, pretty close, southwest, what's the story? lauren: goldman sachs cutting them to cells bringing the price target down to 36, they expect higher than industry inflation over the medium term, basically what that means is cost for upgrading their technology, it's going to hit their bottom line, remember all those snafoo s and delays and re routes, headaches for passengers they gotta fix that it's going to cost them money and the fix is more expensive now because of inflation. stuart: that was a pr black eye big time, lauren thank you very much indeed. look at this headline from the
wall street journal. schools confront a wave of student misbehavior driven by months of remote learning. one teacher is saying, in that year off, we lost a lot of social maturity, so they don't know how to express their emotionings. look whose here, former education secretary bill bennett joins us now, bill great to see you, sir, welcome to the show. >> thanks, stuart. stuart: may i express an opinion to get things rolling here? it is my opinion that the teacher's union has ruined public education in america. what say you? >> yeah, they've done a pretty good job trying to do that, maybe they have. i keep saying save the public schools, that's where most kids get educated but boy, the stuff that's going on it really makes you want a revolution. they really damaged themselves terribly, don't you think? stuart: yes. >> by not going back-to-school during the end of covid and so on but this student misbehavior thing, not a surprise. isolation is very bad for kids. they don't react well to it.
they go back into school and they act out. schools may not be doing, stuart , in math and science and history what they should be doing, but they are still good places for socialization and kids need that interaction and they haven't had it, so when they go back, we're going to see some of this. remember, the adolescent brain is not fully developed. these kids maybe full-size, some of them, but that brain takes until age 25, so, you know, expect some kind of acting out. stuart: here's another trend which i find a real problem, and that is the closing of these gifted programs. sort of the , it seemed to be all dumbing down and that's not the function of education, surely. >> no, absolutely right. no, excellent. you have to have standards of excellence and you have to have places that emphasize high achievement. where we are in the d.c. area, there's the thomas jefferson school of math and science, one of the best high schools in the
country, and they were thinking of shifting from not being standards-based to being random lottery, and this is a big fight. i think governor-elect youngkin will do something about this in a positive way, but you have to have high aspirations for all students. high aspirations get people going. stuart: is this all about race? is race at the bottom of this problem? >> yeah, part of it. part of it is, you know, they want to be sure that races are equally represented and if you do it by the scores, it's not going to happen, and the reason it's not going to happen is because of family breakdown, which people don't want to talk about, you know, black kids who grow up in middle class families do quite well. black kids who grow up in families that are broken or were never formed don't do nearly as well, and that's just a fact of life, but look. a black student in america who has a b average is more likely to go to college than a white
student, so we have to keep these standards up. we have to keep these aspiration s up. stuart: i hate to have such a downer, as a subject matter, so please, sir, would you come back and will be more positive about how we can fix some of these problems that we see in the education field. please come back soon. >> i will come back anytime, like your former guest i'm a brooklyn guy, an american football fan, but i'll go for birmingham. is birmingham one of your teams over there? stuart: birmingham? it is a championship team in the second league, it's not in the premier league, but hey, come back soon, bill and we'll educate you on soccer no problem whatsoever. >> i was guessing, birmingham. stuart: you've got it. sir, thanks for being here, see you again soon, good stuff. >> you bet. stuart: more on schools. here we go. the american federation of teacher's president, randy weing arten is being called out for hypocrisy over masks, now what? lauren: she's been in close
contact with friends unmasked and in a post, there's the picture, i think the mask is around her chin, okay and she said in this post, look we're all rapid tested before gathering. you know what? fine, but parents are angry that the policies that she helps to set, the kids are still in masks even though many kids have been vaccinated and they are tested at times, and they're quarantin ing and their school life has been completely disrupted. at lunch time, sometimes they sit outside in the cold weather. they sit on buckets like six feet apart from each other, and there's my daughter's at school wearing her mask inappropriately and we had her parent teacher conferences and it was a negative and i said okay i'll work on it but i was really rolling my eyes. kids don't want to be in masks all day. stuart: no they don't and they don't socialize in masks. you can't have a conversation between adults in masks. lauren: you can't learn. try being young and learning how to spell and say words and sound them out when you can't see your teacher's mask and she can't see your mask and then randi
weingarten takes down her mask to smile socializing with friends and kids can't do that in school, not even at lunch time. stuart: i've gotta get this in, this is your story. governor greg abbott, texas governor, urging employees to report vaccine mandates. he's got a hotline. lauren: he does. he says if you've been asked to show, if you have an exemption for the vaccine and a company is requiring it, report them. there's a hotline, here is this tweet, since day one texas has taken a stand against the federal government's unconstitutional mandates the covid-19 vaccine will always be voluntary, and never forced. so he's putting his money where his mouth is. stuart: i like t hear that thank you, lauren. the senate did indeed overturn the president's vaccine mandate. now, the white house says it will veto the bill, if it makes it to the oval office watch this >> so again, we're hopeful that this doesn't come to the president's desk. i can't make a prediction of that. i'd leave that to the vote counters or the whip counters in the house, but if it comes to
his desk he will veto it. stuart: pennsylvania congressman fred keller will deal with that veto threat in our next hour. we just went through the most expensive thanksgiving, now, we're spending a whole lot more for christmas dinner and yes we've got a report on that too. >> ♪ this is taking me higher, higher, higher off the ground ♪ 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. as a fiduciary, i promise to put your interests first, always.
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stuart: all right, that market is not as strong as it was at the opening bell, the dow is up 56 points, let me look at that for a second. dow up 58 points, now look at microsoft. it is up sharply. microsoft is a dow stock up $8. microsoft performance is adding 58 points to the dow, so without microsoft, the dow be dead flat. that rally has really faded hasn't it?
all right, incomes up, however, inflation is up even more, result? workers are worse off. have i got that right? lauren: you do, an ap survey finds four in 10 americans are feeling inflation and 50% making under $50,000 a year say its had a major impact on their finances it's eating away at any wage gains, that's why we did the google story at the top of the show. everyone said well you're going to raise our wages even more, and then we got the university of michigan survey. direct question. is inflation or unemployment the more serious problem? 76% said inflation, 21% said unemployment. stuart: yeah, i think the market is beginning to understand that a 6.8% inflation rate is not a good thing and you don't normal ly rally with that kind of inflation rate. okay got that. now, then, after an already pricey thanksgiving, food prices keep going up. lydia hu at a meat market in new jersey, all right, lydia, got the right place, have they had to raise prices at that meat
market? reporter: yes, stu, they have. they've had no choice but to raise prices and that's pretty much consistent with what we're seeing across country with today 's consumer price index out showing us that beef prices, for example, they're up almost 21% over last year, and for insight on all of this , we're joined by vincent lasavio owner of john's meat market here. vincent you're slicing up rib roast. used to cost $21 a pound now it's pushing $30 a pound and you say you've got sticker shock over your own prices. >> tremendously. we can't even believe it. we're telling the customers, before they even order it, it's very very high, it's outrageous and they want it, they want the quality but it's shocking us more than the customers. reporter: you carry only prime cuts here and another example for you, stuart a rack of lamb last year for the holiday season $90 a rack, now it's 140 but customers are still buying for know, but you're worried about the post-holiday season if
prices aren't able to come down. >> definitely we don't know what's going to happen after the first of the year, they're buying for christmas and everybodies enjoying it and scaring us because what's going to happen after the first of the year? reporter: let me ask you this just because your prices are going up does that mean you're making more money? >> that's the worst part we're making less profit, it was more profit when the prices were lower because we can only go up a certain amount and they doubled almost doubled from the year before, so it's really really scary. and we're almost talking the customers out of the sale, when they want to buy it, that's what's scary. i said are you sure you want to buy, it's high and they said it's christmas, we want it. reporter: vinny, you're a good guy, thank you so much we're rooting for you so stuart we're going from a very expensive thanksgiving to now a very expensive christmas just seems consumers can't catch a break here. back to you. stuart: you got that right, thank you very much indeed. now, you know that cream cheese shortage? it has hit juniors, now i had to be told that juniors is a chain restaurant. i did not know. lauren: you don't recognize that
label? that box? stuart: i do now but i missed it when i saw it on the prompter right there so what's the story? lauren: it's the best cheesecake in the world 85% of the cheesecake is cream cheese, can't get enough cream cheese, supply chain shortage, they have a facility in new jersey and they actually had to stop production last friday, restart ed it a few days later, and stopped it again yesterday. you can't make a cheesecake that's 85% cream cheese if you aren't changing your recipe and they're not when you can't get cream cheese. stuart: the original problem, as i understand it, is that a cream cheese factory if that's what you want to call it was hit with ransomware, was hacked, and they had to shutdown operations for a few days and that really interrupted the supply chain, obviously. lauren: oh, my goodness. stuart: that's the root cause of the cream cheese shortage. lauren: i did not know that. stuart: they were hacked and put out of business for a few days. lauren: wow. stuart: let's move on. let's get to amtrak. they will have to cut routes next year, because of the
president's vaccine mandate. can you believe that? he had a vaccine mandate and amtrak can't do all the routes it won't wants, amazing, the view calls hillary clinton brave for reading what would have been her 2016 victory speech. watch this. >> i think it's historical, i hope it's available, in history. i thought she was so brave. stuart: hillary lost to trump five years ago, and she's brave for not moving on? joe concha deals with it, after this. >> ♪ everything i felt before, you drive me crazy, i just can't see , i'm so excited, i'm in too deep, oh, crazy ♪ to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information.
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>> ♪ christmas, the lights on the tree ♪ stuart: that is beautiful. you're looking at the fox square christmas tree, our new, all-american christmas tree, shining brightly today, and by the way it is 15 days until christmas. i've gotta tell you that the market started out really strong this morning, despite some unfortunate inflation news, but we've come all the way down to a virtual zero, dow is up what, 30, nasdaq up 4, s&p up 12
, that's it. now, this. the host on "the view" gushed over hillary clinton's be 2016 victory speech. listen to what they had to say. roll it. >> this is about resilience. >> i hope this speech is available for little girls and little boys in schools. >> i'm still not over it. she won by what 3 million votes? >> she won, yeah. >> she did win. stuart: she won? did she? i wasn't aware of that, ashley. joe concha is here. do you think it's possible hillary is running in 2024? >> yes, because i look at the bench right now. either have joe biden polling where he is and that's 80- something joe biden running we see what late 70's joe biden offers from several perspectives kamala harris is polling at 28% approval so plan b doesn't look all that great. andrew cuomo probably not available off the democratic bench, mary ann williamson, is john edwards available? stuart: you are cruel. >> i mean, hillary sees what
the bench is, what the nominee, who the nominee could be and says do you know what? why not me? stuart: well, suppose she did run. suppose she got the nomination, and she faced up against donald trump. a rematch in 2024. who do you think would win? >> we would, fox business, fox news, and everybody from that matter, that be a ratings, that would do quite well, i have a feeling but who would win? i would think in a rematch, given the hand that hillary clinton is dealt on inflation, gas prices, border, afghanistan, crime, education, she's gotta run on the democrat performance right now, and she's not a very likable or authentic person, so i would think that trump would win in a rematch. stuart: the deplorable would win >> i think so, yeah but could you picture donald trump reading his 2020 victory speech, and then do you think the view would respond the way they did and say it was resilient, and he actually did win, history tori call friday, you don't have to answer that. stuart: that is true, president biden will make his first late night appearance as president on
the tonight show with jimmy fall on. i think obviously it's going to be taped, how do you think it'll go? will we see the results here? >> he's not coming here i don't think across the street from where we are to 30 rockefeller but we would have heard the president is coming into town, this will be a remote interview, done obviously on tape, fallon's shows are usually on tape. this is only the 13th one on one interview joe biden has done, you want to compare it to donald trump, he did more than 50 at this point of his presidency. i have a preview of the questions by the way, stu i'm connected with nbc. here's one. how much is trump responsible for 40 year high inflation that you're going to fix that's one question. stuart: are you serious? >> no i'm not. stuart: i knew it. >> i have another good one. is crime a little bit of a problem or not a problem at all stuart: [laughter] it's cruel. you're really cruel. >> it's fine. stuart: that's good, joe. it's a friday and you really brightened up my day. >> thank you. stuart: thank you, concha. facebook is taking a step towards building the metaverse.
lauren: they're opening up horizon world it's their virtual reality world of avatars where you use the oculus headset to enter and this is open to anyone 18 or older so they have to get out of their niche audience, and they have to meet mark zuckerberg's goal of 1 billion users in the metaverse in the next decade but i think this is so risky because how do you protect people who are in the metaverse, and safety is a big problem for facebook. stuart: i have no clue. lauren: well, right now, there's , if you decide to go into this virtual world, you have the option of hitting a safety button. stuart: i'm sorry? lauren: you can go into a safe space that takes you to a break room. you're not feeling safe right now? stuart: somebody is talking in my ear and i can't hear a word you're saying, whoever is talking in my ear, can you drop it, please? you're killing me you're killing me. lauren: lauren you're right. stuart: what did you say? what did you say to me? lauren: [laughter] he's talking to our producer.
stuart: okay. i was just given the time queue, they are trying to figure out how not to be in my ear, when i don't want them in my ear. where were we in this discussion lauren: we were talking about facebook having to keep the metaverse where apparently 1 billion of us will be unthe next decade, safe, from bullies, there's a real person is an avatar, and you're talking to real people, might feel fake but that has to be a place with protected speech for instance. stuart: the metaverse, in my opinion, is for my grandchildren lauren: i agree. stuart: what do you say, concha? >> i say people need to get out more and actually have friends. stuart: that's right. >> instead of being friends with people on facebook and do you know what we do in new york? i go out with my friends we all put our phone in the middle of the table first one to touch it picks up the bill. lauren: oh, i love that idea but democrats really like the metaverse because they can keep us home and, you know, not going out and masked for longer just living these virtual world's. stuart: you become very different lauren i'm having an effect on you i can tell. lauren: maybe. stuart: thanks, everybody, still
ahead, steve hilton, pennsylvania congressman fred keller and leo terrell, all on the show coming up and then there's this. jussie smollett concocted a hoax designed to make people look like racist thugs, democrats quick to support him to appeal to identity groups, of course but he failed and they should now apologize that's my opinion and my take and that's next. >> ♪ .. they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. [engine humming]
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i see one element securing portfolios, time after time. gold. your strategic advantage. >> 3, 2, one. >> the fox news channel decided we weren't going to let an arsonist, repeat offender get the last word. the guy who set the tree on fire is by fox news again. that is an accessible. >> afar record murder rate. there is no leadership. >> everyone is relieved, they managed to keep everybody going in the last couple years. >> this is a very mild very and
and if it spreads widely and crowds out delta you may see less hospitalizations and deaths. ♪♪ joy to the world ♪♪ the lord's come ♪♪ stuart: an actual religious christmas song on this program. i kind of like that. 11:00 eastern time friday december 10th. we've got to check money because it's not doing as well as it was when the market opens, the dow is clinging to a 40 point gain. without microsoft as a dow stock the dow would be in negative territory. the 10 year treasury yield has gone to one.46% despite the news on inflation. as for bitcoin hanging around 47,$900 per coin. that's the market. now this.
haqqani told the world he had been beaten by white trump supporters shouting racial and homophobic slurs. it was a lively he himself set the whole thing up. it was a deliberate hoax designed to make themaga people look like racist thugs and for a while it works. president biden about to start his presidential campaign tweeted we must no longer give this hate safe harbor, homophobia and racism have no place on our streets, we are with you, he jumped the gun because he wanted black and gay votes and he hated trump. kamala harris called it an attempted modern-day lynching. he went on to become vice president. people to judge called it a hate crime. he's now the transportation secretary. smollett peddled his lies on abc news and they bought it. all of this occurred in january and february of 2019. trump was the president and trump hatred was enforcing, so was identity politics and
democrats were scrambling to appeal to identity groups. they had no problem believing and supporting a hoax. it fit the narrative perfectly in election season. another failure of identity politics and another insult delivered to america by democrats who should now apologize. the third hour of varney comes right at you. we get more on haqqani later but now we've got steve hilton, the man from california. would you give us a state of play los angeles and san francisco, any sign they are trying to get a grip on rising crime? >> reporter: quite the opposite. it is the same point you were just making. the narrative for today's far left democrat and their media allies is the most important thing, the narrative they are
pushing, george gascon was the far left district attorney in los angeles who is presiding over a horrific crime wave, a crime wave so severe you had the head of the police union out the other day saying don't come to los angeles. don't know if you played the tape. visitors, tourists don't come, we can't guarantee your safety like the movie the purge, that is the police talking. you have a prosecutor who is pro-crime and pro-criminal. it is ideological, it is a narrative, he's pushing the narrative, he is out at the press conference saying touting his successes like biden the other day touting his successes at the white house, it is fantasyland in san francisco. you have a crime wave going on, the mayor saying we will get to grips with it, gavin newsom saying we have to take this seriously but they are not changing the substantive underlying point which is
policies that have incentivized the they say to the criminals, if you commit a crime, instead of what you need which is the certainty that you will be caught and convicted and punished is the certainty of the exact opposite imagining nothing would happen. to get caught you will be let out straightaway. they are not changing that. stuart: the world turned upside down. that is what it is. new york city just became the largest city in the country to allow noncitizens to vote in local elections but they are voting. i didn't know this but apparently that is already happening in california. is that correct? >> yes, san francisco, the school board elections and other forms of local elections. the constitution is clear that only citizens can vote in presidential elections. there doesn't seem to be a legal obstacle to this. the problem is as we all know, when you have democrats pushing, loosening all sorts of voting rules to help them
across the board not just in local elections can we be sure someone authorized to vote in a local election or school board doesn't then go on to vote in an election to which they are not entitled, that's the issue here and what we really need is a lot more rear insecurity about a whole election system and the democrats want to go the other direction and this is part of that. stuart: we are going downhill on so many fronts. we will be watching you on the next revolution, 9:00 pm eastern sunday on fox. thanks for being with us today. back to the markets, that rally is fated. we are in negative territory on the nasdaq and dow is 23 points, microsoft is nowhere in the s&p up 10. mark tepper with me today. we have this inflation news, 6.8% up on the consumer level. i was surprised to see the market open higher. what is going on.
>> let's not sugarcoat it, 6.8% is a brutal number, but there was a whisper number going around, 7%. the market initially called itself down and said thank goodness we didn't hit 7% but regardless right now we are in a point where inflation is outpacing wage growth. wage growth year-over-year is down, we are at a point it is beginning to the road quality-of-life. this is a tax on lower income people, a tax on the middle class. the fed is going to have to step up and get something done. stuart: that is what has me worried. when the fed steps up and does something interest rates go up and the market usually comes down. that is what normally happens. >> when interest rates are going up as long as inflation is coming down at the same time, if you go back through
history during those periods of time the market has outperformed its historical average by one.5%. a lot of people think exactly as you do that as soon as interest rates start going up performance is going to suffer but i think it is just the knee-jerk initial reaction and then it will recover. >> a new poll shows four in ten, 40% of americans say inflation is having a major impact on their finances. do you have an inflation hedge? >> the only asset class that has outperformed inflation every single decade is small-cap value stocks, small-cap over the course of the last month or so has been completely hammered. it has been completely beaten up but if you want an inflation hedge, you want to own something that has the opportunity to outpace inflation you have to look at small-cap value and when you talk value, small-cap companies are generating cash flow as
opposed to high-growth longer duration companies that are taking on the chin. >> what companies are you talking about, can you name any names? >> quanta services comes to mind, one that we own as a consultant flag. lots of banks, small-cap value, lots of financials and things like that. stuart: the president says build back will hold inflation, reduce inflation. you look skeptical. >> house that possible. again you have too many dollars chasing too few goods. there's nothing about billback better that is going to reduce deflation, nothing at all. we have to if we want to combat inflation the fed needs to do their part, need to accelerate tapering, raise rates but we also need to stop spending like drunken sailors. stuart: stay right there. let's go to lauren. oracle still a huge mover, up
12%. >> the hybrid work environment is helping create the cloud boom which oracle is a major beneficiaries a strong business spending is boosting their top and bottom line. we are talking about inflation and this might be one of the reasons the stock market came down. pantheon macro says inflation will rise more. it will be even worse by the time asset purchases end in march, we expect the fed to hike in may. so you have the market staying put to combat inflation with higher rates. not a pretty picture. >> that statement wasn't good and probably hurt the market. >> want to get that in because the dow was folly as i was speaking. stuart: ford motor company, $20 a share. >> the lightning, reservations are so high that ford had to start taking reservations, the
weight listed so long for the 2022 model but if you are on the waitlist you are likely not getting the vehicle into maybe 2023. stuart: how about snap, it is down. >> nafta says some of our snapchat is are having issues logging into the apps right now, piper sandler came out with a warning that their revenue will be hit by the new advertiser restrictions at apple and they don't see a recovery for snap until the second half of 22. stuart: those are the market movers, i'm moving on. violence in chicago so bad the city may close off streets downtown this weekend. president biden says he will veto the vaccine mandate ban if it reaches's desk. congressman fred keller says he welcomes that veto. is going to be here to explain why. the president promised to improve his favorite way to
travel, that would be amtrak. role tape. >> i was talking with members about improving cross state, interstate passenger rail, something i know a little bit about, you are looking at mister amtrak here. >> wise amtrak going to cut service next year? we've got the story and the full report next. ♪♪ what's strong with me? i'm ready for anything. find out what's strong with you with fitbit charge 5 and daily readiness.
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what more do we know about this? >> president biden is not shy about his love of amtrak but is vaccine mandates could be throwing amtrak off the rails. the president of amtrak told congress the mandates, there is not enough asked workers to keep the trains running if the mandate goes into effect as planned on january 4th saying we anticipate we will not initially have enough employees to operate all the trains we are currently operating when the federal mandate takes effective those employees choose not to get vaccinated by the deadline we will not have sufficient trained staff the press secretary jen psaki says there is still a month to go before the mandate kicks in and she things workers will ultimately choose to get the shot. >> posted by expert employers will follow their standard hr process, we don't expect them to cause disruption to services people depend on. >> billions in the infrastructure billing republican congressman dan crenshaw tells me disprove that
money does not stake bad policy. >> it is worth noting how much money amtrak got in recent bills and it is proof that the problem is not money when talking about infrastructure, the economy injecting more money into things doesn't do anything. >> president biden bragged he is the most prounion president ever but the train unions aren't happy either, the brotherhood of local engineers entering men say they are angry this mandate was slapped on their workers without proper negotiations with union bosses and they say they think people should be able to stay on the job while these mandates continue to be challenged in court. >> thanks very much indeed. the senate did indeed overturn the president's vaccine mandate. now it goes to the house. if the house craps in his role,
listen to what jen psaki says the president would do. roll it. >> we are hopeful this doesn't come to the president's desk. i can't make a prediction of that. i believe that to the vote counters in the house but if it comes to his desk he will veto it. stuart: fred keller is the -- why do you welcome a veto of the presidential e support? >> i don't welcome the veto. i think it is disappointing. we have bipartisan support in the senate and i'm working with my colleagues in the house, we have all the republicans on it and had some constructive conversations with democrats and i'm hopeful that we can have our resolution come out of the house in the next month and the president is going to have to make a decision whether to support the american people that have respect for them or go it alone and rule over them. stuart: as i understand it you welcomed it, a veto, on the grounds that it would make the
president look bad because a lot of people do not want these kind of vaccine mandates. you think it will make the president look bad if he vetoes it? >> i think it would but the reason we are doing it is to stand up for the american people and at the end of the date will make the president make the decision whether or not to support the right of the american people are not and it is not whether somebody should get a vaccine but whether the government would have the authority to tell him to do it. stuart: do you want to get rid of all mandates, for government workers, defense workers, healthcare workers, private-sector workers, no mandates at all, is that where you are coming from? >> that is where we are coming from. this is not a point the government should be telling people what they can do in taking away their constitutional rights. stuart: you are in favor of vaccination and boosters, just not telling people what to do. >> as i said this is and whether or not somebody should
or shouldn't be vaccinated, that the decision they make with their doctor and their decision to make the government should not be telling them to do it. >> from our point of view this is a financial program, from our point of view the vaccine mandates will reduce the labor force in a variety of industries at a time when we don't have enough workers in those industries. the result is inflationary because you're interrupting the supply, the wage cycle. it is inflationary and there is another reason to ban these vaccine mandates. >> you are correct was will put a strain on businesses, small businesses, medium-sized businesses and these are the people that created the greatest economy the world has ever seen, the people that went to work every day many of them through the pandemic and got america through the pandemic, kept us going and now this is the thanks the president wants to give them. stuart: thanks for joining us
and wish you luck. back to the markets please because it is a mixed picture, nasdaq is down 12, dow jones average dead flat, s&p up 10. check the cryptos, not much movement, mostly to the downside, bitcoin back to 47,000 and ethereum has dropped below $4,000 and there is this, governor desantis of florida wants to let businesses use crypto currency to pay state fees. he wants to make florida a crypto friendly place. what do you make of that? >> reporter: when you think about it florida has kind of become the silicon valley of crypto. miami is a huge crypto hub, they had a big bitcoin conference in may of this year. what do i make of this? i don't really see the point of paying state fees in crypto, like the athletes who get paid in crypto.
it is easy to convert your crypto to cash and vice versa. i think really what governor desantis is trying to do is cement their place that they are the crypto hub. stuart: they are the future, that the way they want to position themselves. >> every state wants to be florida, you saw mass exodus of companies moving out of california to texas in the same thing happen from new york to florida. everyone wants to be in florida right now. >> i would like to be in florida right now. should other states do this? what do you think? probably not. >> i don't think it makes a lot of sense. stuart: on your screens, put that up again. a couple recently got married in the meta-verse. according to the new york times, labor day weekend, their digital avatars were dressed just like them. that the real couple, the real people, their avatars on the meta-verse getting married. what do you make of that?
>> this is scary. we talked about a lot musk's comments about civilizations crumbling if we didn't start have more kids. how are you supposed to have kids if you're dating and getting married in the meta-verse. maybe zuckerberg has a solution for that but we are not aware of it just yet but this is absolutely insane. stuart: it seems like it is suggesting we live entirely in a screen, in this meta-verse, don't just look at it on your phone but get into it with virtual reality. pretty crazy stuff. >> very weird. i had someone tell me this past week that by the time i have grandkids the grandkids are never going to leave the house, they will do everything in the meta-verse and that is frightening. do you remember about a year ago we were talking about how everyone wanted to get and give hugs again, the human interaction that was missing during the pandemic all of a sudden was front and center,
everyone wanted that, depression rates skyrocketed during the pandemic and all of a sudden we are going to be isolated again. not a big fan. stuart: not a big fan. okay, good stuff, stay there, more for you later. retailers forced to hire their own security amid a wave of smash and grab robberies. kelly agreed to ride along with the private security firm in san francisco. we've got a report from her shortly. remember what speaker pelosi had to say when haqqani first told his a crime lies? she tweeted the racist homophobic attack on haqqani is an affront to our humanity. i will let my friend leo to row take that on, leo is next. ♪♪ tell me lies ♪♪ tell me sweet little lies ♪♪ ♪♪
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moment, 74 degrees. check those markets, green for the dow industrials, but not much, the nasdaq has turned around but not much greener, 15, the s&p is up 16 but better show me amc, the movie guys down really big, 10%, the ceo just disclosed he sold 90% of the stock in a month and the cfo, chief financial officer sold 100% of his shares this week, no wonder it is down. breaking right now, governor of new york kathy hogle just announced $1,000 fines for those who do not comply with her new mask mandate. that mask mandate is masks are required for all indoor public places if they don't already have a vaccine requirement. retailers facing a surge of smash and grab robberies across the country being forced to foot the bill for their own private security. kelly a grady is in san francisco. tell us what you saw when you rode along with that private security firm.
>> i saw an unfathomable level of boldness from these criminals. one of the firm's cops told me he is seeing folks just start to take things everywhere. they had a litter and attempted to question him and his response was call the cops, what are they going to do? that's a fair point. what are the cops going to do when reasons are maxed out and crime surging across the country. the biden administration has approved $189 million in funding to over 1000 law enforcement professionals, 50 will go to san francisco. the police chief recently said he shorted 500 officers, and hiring is going to take time if they are able to hire anyone. the defunct police movement is not only taken officers off the
streets but also spurred a wave of retirement and the public show of support may be too little too late. >> a lot of officers don't want to deal with what is going on. there's not a lot they can do. you arrest someone or just cite someone for damaging property and stealing and then you see them right back out an hour later, 3 hours later. >> with these brazen robberies they are not only losing money and customers would hire private security firms, everything from armed guards to nightly patrols and like i mentioned we embedded with one of those. >> my patrol division likes to call it, car break ins, people with weapons around the store, scratching items. >> many of these retailers are small businesses that cost is often a factor or they don't want to provide an experience where you have a guard in the so when doing holiday shopping
but they may not have a choice if they want to remain open safely. stuart: chicago police consider closing the city and downtown streets in an effort to prevent more violence this weekend. leo terrel joined me now. i am inclined to say have at it but what on earth do they think they are doing? >> absolutely nothing. all your reporting indicates the following. you and i are sitting here right now knowing there could be robberies, shootings in chicago, you arrest them they are released. lightfoot, one of the worst mayors in the country basically blaming the retailers. there's people in that city who know they are going to rob and steal and the sad thing about it, you have a black mayor allowing this type of crime going on. black on black crime, smash and
grab, they are not focusing on arrests and convictions, this is just a joke and it is the policy of democrats around the country, soft on crime and allowing their base, black lives that, antifa, and the far left to rob and steal. it is insulting. >> next one for you, another one for you to have at it. jussie smollett found guilty of a hate crime hoax. the media had no problem believing and supporting this hoax. it didn't fit the narrative, perfect for election season. that's what is going on here. >> absolutely. let me be clear as a civil rights attorney, people died and made sacrifices for the civil rights law. this black man plays the race card to live to divide this country on race, to have people hate donald trump, to divide the country on race and he got support from president biden, kamala harris, good morning america, robin roberts, this
country is not a racist country but jussie smollett hides behind his race, play the race card and the american legal system worked, they found he was a liar, a convicted felon and let me be clear he should go to jail. as a black american i found what he did insulting. is a civil rights attorney was insulting, one final point, black lives matter lost too because they came out supporting him and claimed you cannot trust the police, the jury said we do support the police and we believe the police. >> what the answer to this racially divided society? >> very simple, please, america, please give these george soros prosecutors out, defeat them, recall them. get these left leaning
democratic governors and mayors out. lightfoot, garcetti, deblasio, they cater to criminals, we've got to vote, we have to get them out, no other choice. >> i did they have added and you did have added and we kind of like that kind of thing. thank you for being here. i'm sure you will be back soon because it is not going away, thanks a lot, see you soon. here's what is coming up on the show. jen z, 18 to 24-year-olds just entered the workforce that are already planning to retire early. we've got that story. christmas about two weeks away, shipping deadlines coming up real fast, grady trimble has our report from dhs sorting facility, grady is next. ♪♪ the final countdown ♪♪ ♪♪ the final countdown ♪♪ ♪♪
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♪♪ santa claus is coming to town ♪♪ santa claus is coming to town ♪♪ santa claus -- stuart: swiftwater, pennsylvania, 39 degrees. the markets, some green for the dow, if you take microsoft out of the dow the dow would be in negative territory, nasdaq dead flat, the s&p up 15. show me costco, very strong earnings, revenue rose 16% over the last quarter. stock is up 5%, huge gain for a big company. this just coming at us, the congressional budget office, congressional been counters now estimate the bills back better bill would add $3 trillion to the deficit over ten years if all provisions were made permanent. senator chuck schumer is calling this a fake score.
some shipping companies are working overtime to make sure packages get delivered on time by christmas was great from. at a sorting facility in illinois. if i ship my stuff today, will my gifts make it by christmas? >> reporter: yes. i know that is a hypothetical question because you did not wait that long to get your packages out but for most of the carriers including dh l which ships internationally their deadlines for shipping are the middle of next week so you're still in lucky if you're a procrastinator. i'm with dhl express. we were here for the morning sort, 10,000 packages being sorted at this facility alone, half 1 million across the country. volumes are through the roof right now. >> for sure. definitely been a strong piece. last year was a huge year for us, we saw growth north of 25%, 26% at this year we are seeing around the 13 to 15% growth on
a record year, last year so definitely a huge year for us from the shipping perspective. >> you had to bring on a ton of new workers, some companies including yours are dealing with a labor shortage right now but you still hired thousands of workers despite that. >> yeah. from a worker's perspective peak started for us last year with the pandemic. we have hired another 2000 employees to really keep up with the demand. >> reporter: dhl and all the other carriers have been at holiday level since the pandemic started with so many at home and using e-commerce so when the holiday rush comes now they are up some 13% in deliveries. the message is they will do their part to get the packages to you, you need to do your part, get the package shipped, get it out the door so it makes it under the christmas tree in time. stuart: thanks for reminding me.
we have a new survey from goldman sachs that says 25% of jen the people 18 to 24 years of age plan to retire before the age of 55. >> we would all like to retire as soon as possible. with these jen z ers, sounds like a bit of overconfidence. they need to get real life, real world experiences under their belt first but i see it as two logical errors, the first one is there probably assuming 20% rate of return forever and ever because they have one year of a track record the chosen they can do that now forever in perpetuity so that an error. the other issue, according to the study about one third of these jen theers think they can live off of 60% of pre-retirement expenses while they are retired and i can tell you i don't have any clients
who scaled back their spending by 20% or 40% when they retire, they spend more. that is a big error reasoning. stuart: i retired when i was 49, lasted 6 months. then went back to work, thanks. stay there, more, give me a sense of the market, show me the dow 30, you've got about 2 thirds of them are down, up, one third down so that the split. not much movement at this point. don't go anywhere, people, friday feedback is next. ♪♪ don't come out ♪♪ don't care enough ♪♪ walk away ♪♪ you know how ♪♪ don't start
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on him. this comes to us like tricia, she wants to know 3 gift with items, i do. every time. what have you ever regifted? >> i get a ton of gift baskets every year from all the vendors we work with. every single one of those gifts regifted. i have no interest in cheese and cracker stuff. stuart: just the wine. >> i give them to -- stuart: sent them here. >> i will start to do that. >> great if a client gives the gift and give it back to the client not realizing. >> if you actually get caught -- stuart: what do you -- lauren: i don't do it. maybe wine. stuart: you would never regift line. this is from roz.
18 bitcoin in 2013, i'm about to sell. i have no valid market reason for holding this, do you think i should buy microsoft? i never give such advice to individuals whose situation i don't know. i would never suggest you put all the profit from bitcoin into a stock that has gone to the moon. >> microsoft is a fantastic company. it has been the risk off safe haven. it is where people want to go. "my take" on crypto, $1 million worth of bitcoin. i own enough that if it went to 0 tomorrow i will retire by 55 however, i will be a very happy man. stuart: let's go, this is from an anonymous view. stuart: lauren's reaction to
spam. has she ever tried grilled spam and eggs? have you ever eaten spam? lauren: anonymous of like dr. seuss. never have. stuart: content is absolutely fantastic. >> what is spam? it is in a can. lauren: you can eat what is in it. >> no idea what is in there. stuart: a lot of crystal, a lot of fat, but my goodness. post world war britain. i eat it every day of my life. >> a nice shine. stuart: what could go wrong? this is from john. i was shocked to learn the world's first neonatal icu is a coney island sideshow. as mentioned in the episode of american builders it had a remarkably good track record.
it is renewed for another season. american builders the name of the show and there is the promo, new episodes mondays at 9:00 pm eastern. let's go to noreen. our family love the ugly sweater segment on christmas eve lasts year. curious if you would do something similar this you and you and your team wearing an ugly sweater again. you don't dictate that. >> we do it every year, it is getting a little >> i had an employee last year with an ugly sweater and he had my face on his sweater. stuart: do you fire him? >> we had to get rid of him. you can't do that.
stuart: that was me, the ugly christmas sweater. that was not on this program. that was the little christmas thing we did for the network for fox news. that's not that ugly. lauren: replace it with something else? >> we will think about it. stuart: last one from stephanie. if you were not doing what you are doing today what did you want to be? a beetle. as simple as that. case closed. >> i wanted to be a news reporter. stuart: you made it. lauren: in fourth grade i was in a storytelling contest, my mom said you have a nice voice, you should do tv and it stuck. i am grateful. >> wanted to be a baseball player. what else would you want to be? baseball player, unlike lauren i did not succeed. i got freshman year of college as a picture throwing low 80s, make it very far. stuart: not bad.
do you know what time it is? time for the friday trivia question. how many languages are written right to left. the answer coming at you after this. lauren: i got the last two right. your plain aspirin could be hurting your stomach. vazalore... is the first liquid-filled aspirin capsule clinically shown to cause fewer ulcers than plain aspirin. try new vazalore.
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question. how many languages are are written from right to left? let's have some guesses. what do you say, mark? >> i'm going with the lucky seven. i have no reason for that. >> i said twelve, i can only name four. >> i'm going to say five. chinese, err due, arabic and one other -- [laughter] >> your winning streak continues. >> i think i should play lotto. [laughter] stuart: the answer's 12, got that. okay. among those are arabic, hebrew and persian and a few others, obviously. >> yeah. stuart: that was the most difficult question ever asked. >> it wasn't even multiple choice. that makes it even harder. stuart that's true. meanwhile, our floor director who googled it, she knew the right answer. [laughter] and i actually said don't tell us, don't tell us, because that
will spoil it. you didn't tell us. we appreciate that. >> do i get anything for winning three weeks in a row? stuart: kudos? >> i have a gift basket for you. [laughter] stuart: i'll buy some spam, and i'll bring it in for you -- [laughter] ♪ >> i knew i loved my job. my dream job. stuart: time's up. neil, it's yours. neil: i have no way to top that. [laughter] all right. the spam thing i agree with, the right to left, i don't know. finish thank you very much, my friend. have a good, good weekend. all right. we are taking a look at the corner of wall and broad where the dow is sprinting ahead right now despite some pretty serious news on the inflation front, now running at least on the retail level, at the you and me level, the highest clip since ronald reagan was president. we're going to get into that, but that is getting people nervous, again, as they say, the market has a funny way of showing it. of course, this was well telegraphed that we'd get a strong number, and