tv Varney Company FOX Business February 10, 2022 9:00am-12:00pm EST
nasdaq is the one to watch today, as mark suggested, indicated lower by 232. it is those high growth tech stocks that will take the hit here if we we see the kind of rate rises that you gentlemen are suggesting, and that's what this market is focused on. james freeman, mark tepper, thank you so much, really appreciate your time. "varney & company" is up next. stuart, it's yours. stuart: good morning, jackie, good morning, everyone. there is there is only one morn morning story, and it's inflation. in the last year consumer prices have gone up 7.5%. inflation is running hot. this is another report showing the worst inflation in over 40 years. and this is the inflation which everyone feels. food prices, housing, transportation all up sharply. question, who gets the blame for this? we'll discuss that later. it looksic -- looks like inflation is speeding up, it's
getting worse. 7% in january, 7 -- i'm sorry, 7% in december, 7.5% in january, not good. here's the market reaction. and i'll start with interest rates because everyone's trying to figure out what jay powell's going to do about this. the yield on the 10-year treasury, 1.99. awfully close, a fraction away from 2%. that is a milestone. the dow industrials and the market here down about 150 at the opening bell, the s&p down 45. but look at the nasdaq. with the yield on the 10-year treasury close to 2%, almost there, the nasdaq's down, what, 250 points, 1 is.7%. -- 1.7%. bitcoin down $1,000, 43,8. that is the price of bitcoin right now. let's see what the white house has to say about these inflation numbers later on this morning. that is a political question. also in politics the news is dominated by ten democrat states retreating from mask mandates, but the white house drags its
feet. the c, the c and the teachers union, they want to keep the masks on -- cdc. and then there's new york city, new york state, the governor here, she will allow adults to take masks off, but school children must suffer until next month when governor hochul will reconsider. where's the science in that? where's the consideration for children who are least vulnerable ask most damaged? and this from new york city if as well, brazen shoplifting is so bad that convenience stores are locking everything up, and i mean, everything. it's not easy living and working here. florida looks more attractive by the day, doesn't it? trucker disruption continues in canada, and it's having an impact. ford and toyota suspend if production at two factories. can't get the componentings. if the truckers did the same thing here in america, would they get public support? my opinion is killing the vax mandate is a worthy goal, but the blockade tactic will backfire with public opinion.
here's a milestone. the prime minister's approval rating -- the president's approval rating has dropped below 40%. this is from real clear politics. 39% lower than any other president at this stage of their presidency. and wait until you factor in today's inflation news. it's thursday, february the 10th, 2022. very and company is about to begin. ♪ -- "varney & company" is about to begin. many. ♪ ♪ ♪ whoa, yeah, kick start my heart -- stuart: inflation is topic one on the markets, and it's politics today as well. rising prices are part of the reason for the president's sinking approval rating. there you have it. 7.5% year on year consumer price index. okay, lauren, let's get into the main points. lauren: that's the most since february of 1982. if thed fed thought the trend would be their friend that
prices would start to come down, they're dead wrong. if you look month over month, december to january, they rose .6% overall and at the core level. so where were prices the hottest? gasoline are up 40% in the past year. used cars up almost 41%. food up 7, and i want to talk about shelter for a second. the number says 4.4%. that's the single biggest component of cpi, but i think it's widely understated because if you look at home prices and rents, they're both up well into the double digits on an annual basis. so that's the story. inflation's actually hotter than 7.5%. one more inflation print before the fed meets this march, ready, set, go by how much in march is the question for investors. stuart: inflation is not turning out to be transient. it's getting worse. lauren: we thought it might start to come down, that month over month number, which in a way is her important, and that's still moving in the wrong direction.
stuart: left-hand side of the screen, this is how the market is shaping up. michael lee is here with us this morning. michael, i'm looking at the nasdaq. it is way, way down. you're not bullish on big tech today, are you? >> well, you know, stuart, this is probably the time to start looking at some names that have been beaten up and the start looking in here. i think the reaction you're seeing in the markets, you had a rally over the last week that's been with pretty strong, particularly yesterday and earlier this week -- stuart: wait a minute if, michael, you've got to -- come on. you've got to address this. 7.5% inflation over the past year, and ad fed which has got -- a fed which has got to do something about it. you're telling me to go in there and buy stocks before we know what the fed is going to do about this 1.99% on the 10-year treasury? wouldn't it be extremely dangerous to jump in today? >> well, stuart, these are the days that you want to jump in.
and what you're seeing in the market, i think the rally that we've seen over the last few weeks from the lows of the year is they were expecting a much better number today and for inflation to cool. inflation did not cool this number. the month over month and year-over-year numbers will improve if over the year. that doesn't mean prices are going to come down, but the odds of the fed going 50 basis points in march went from about 25 to 30% before this print to over 50% after that print. there's rumors out there -- not rumors, but the fed fund futures briefly predicted six rate hikes this year from four after this print. so when there is this much, this far ranging of views of what the fed's going to do, you're going to have markets all over the place. i think we are still mid cycle, and many say that the fed kills the bull market, the fed kills the economy. that's not true. debt bubbles kill the economy, and the fed leads the bursting
of those debt bubbles. we're not there yet. the fed is going to have to be active throughout the next 6-9 months to show that they're serious, okay? but at that point you're going to see much lower year-over-year numbers from from a combination of things happening. higher base effects -- go ahead. stuart: no, sorry. i understand where you're coming from. but i'm extremely nervous about buying into a stock market at these high levels when the federal reserve, you know, is going to raise interest rates. and you can't be sure that inflation will come down significantly. i'm sorry, michael, i've got to leave it there. i shouldn't do that to you, you should have the last word, but i'm very sorry, or michael. such is life. >> no problem, stuart. stuart: i've got to move on. just take a look at the pictures on your screen. those pictures were taken by one of our producers who lives in
new york city. you can see that every product in this duane reid store, it's locked away. it's so bad that al sharpton in new york city is calling on the mayor to fix it. watch this. >> you go to a local pharmacy, duane reid or a rite-aid, any of them, ask you've got to get someone to help assist you. they have a little button there. you hit the buzzer, and the guy come over and unlocks your toothpaste. [laughter] >> what did i miss that we now have to lock up toothpaste? cannot have a culture where people are just at random just robbing and stealing, and it's out of control. stuart: well, well, well, al sharpton. he's the man who pushed for all these soft on crime policies in the first place, and now they're affecting him. sean duffy, this is a big day. we've got inflation, we've got the market falling out of bed, and we show you photographs of everything locked up in duane reid. but that's what it's like living in new york city today. go. >> and that's across the
country. al sharpton was one who supported the riots during the summer of love and supported cori bush and no police. what do you think is going to happen? there's no repercussions for being a thief. so these stores, they go out of business or lock their goods up. and it's interesting that al sharpton comes to this, stuart, only when his toothpaste is locked up. when it affects him. this is going way too far. we have to address the crime problem. but americans and people in his community have been dealing with this for a long time, and they do want law enforcement on the street. stuart: okay. let's get to something much more serious, frankly. the inflation number today, 7.5% year on year inflation. and that is not included, that fact today is not included in the president's approval rating dropping to 39%. this is according to the real clear politics average of scores. sean, what's the impact of these polling numbers on the democrat party as a it relates to the
president? if are they going to abandon him? >> stuart, this is really bad. we've got to take a step back. how do you address this? cpi, what's driving it is fuel. gas prices. you could open up american oil and gas, easy. it's the most leftist, radical person that you know. they're running this government, and so they believe in crime, in drugs, they don't believe in energy, they believe in green. they're doing crazy things instead of focusing on what we care about like taking off masks and stop mandating vaccines. they're saying what we're going to do is the u.s. citizenship and immigration services has a new mission statement, stuart. they're going to take away any mention of lawful immigration, protecting americans or securing the homeland in exchange for saying we're going to uphold america's promise as a nation of welcome. what the hell is that? i want them to secure america. they're changing course. we have all these supply chain problems, the bridge from detroit over to canada shut down
because of the protests. people focus on a law in florida where they say you can't teach lgbtq issues in kids from kindergarten to fifth grade. pete buttigieg is losing his mind. these guys are so radical, and they don't focus on the issues that we care about, and if they did, their poll numbers would improve, they might have success in november, but they're not going to change course which means a red wave is on the horizon. stuart: and they haven't got a clue what to do about inflation. thanks very much, sean. check futures again, down we're going. look at that, nasdaq is now down better than 2% following that inflation point. you're down 300 points. let's change the subject. what is disney teaching our toddlers? watch this. >> your skin is so much darker than hers. hold it. did that kind of make you feel uncomfortable? stuart: micro-aggression? pete hegseth has small children.
i wonder the he's going to have them watch that. he's here later in the show. all right, witness a moment of pure joy as youngsters are told they can ditch their masks in this class. watch that. [speaking in native tongue] [cheers and applause] [laughter] stuart: don't you love it? when are we going to see that in america? it's long overdue. ♪ muck celebrate good times, come on. ♪ it's a celebration. ♪ celebrate good times, come on. ♪ let's celebrate ♪♪ new projects means new project managers. you need to hire. i need indeed. indeed you do.
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new covid cases reported yesterday, that is way down, and many states are easing their covid restrictions. jonathan serrie in atlanta. the states are breaking with the cdc which still recommend wearing maas ifings indoors in public places. do we know if they're planning to change that, jonathan? >> reporter: not just yet. officials say that they are constantly evaluating their guidelines based on the risk, and from a national standpoint they still say that in most of the country case numbers are either high or substantial transmission. take a listen. >> our hospitalizations are still high. our death rates are still high. so is as we work towards that and as we are encouraged by the current trends, we are not there yet. >> reporter: nevertheless, an increasing number of states are lifting restrictions. ed today new york state has lifted its indoor mask mandate for businesses. this does not apply to schools. however, a growing list of other
governors are setting dates to make school masks optional. and in georgia the republican governor is taking it one step further. brian kemp tweeted as some school systems continue to ignore the science, concerned students and the well-being of students, my office will be offering legislation to give parents the final say on masking for their children. the white house is preparing to distribute child-sized shots for kids under the age of 5 in advance of possible emergency authorization later this month, stu. an fda advisory panel is scheduled to meet on the issue on february 15 isth. back to you. -- 15 isth. stuart: let's show you some good news, why don't we. i hope this makes you smile. children in israel told they no longer have to wear masks. just watch their reaction. roll it. [speaking in native tongue] [cheers and applause]
stuart: don't you love it? why isn't that here, for heaven sake? dr. jerome adams, former u.s. surgeon general, joins he now. doctor, i say we've got to stop the climate of fear, stop the mask mandates, get the kids back in school and fired up about this. the situation is terrible! what do you say? >> stuart, first of all, i want people to understand that the science behind masking telling us that masks do give us incremental benefit in terms of slowing spread of disease. that's the science. the data tells us, as dr. walensky laid out just a bit ago, we have near record cases, near record hospitalizations, near record deaths -- [inaudible conversations] stuart: consider the effects of children on wearing masks 8 hours a day, doctor? >> stuart, you know, actually, you and i agree on this. we need to have a clear offramp. but if we're going to follow the science and the data, we're not
quite there yet in most places. i'm not saying we shouldn't get there. our politicians have done a horrible job of communicating the why, the when and the where of it, and there are some places out there on a local level that i think are in a good place. but when you talk about other countries, they have much higher vaccination and boosting rates, so they're not taking off masks in spite -- stuart: doctor, i don't care about other countries, doctor. with respect. i do not care about other countries -- >> stuart, you just showed israel. you do care -- [inaudible conversations] stuart: i wanted to show people what happens when you liberate children from this ridiculous 8-hour mask wearing a day. look, i think this has been bad public health policy there day one. the lockdowns, the mandates -- >> bad communication, that's for sure. stuart: bad communication, bad policy, doctor. >> well, i respectfully disagree as an african-american man where you look how it disproportionately hits those communities, and we're now in a
place where we're saying, look, it's on you. what i want to see is we continue to encourage people to get vaccinated, get boosted, protect themselves because we're entering a phase where it is going to be about personal responsibility. it is going to be on you. i want your viewers to know the way you protect yourself the best is to get vaccinated and boosted. and you can still choose to wear a mask whether or not you're mandated. that's what it comes down to. stuart: you want me to walk out on the streets of new york city today in a mask? >> not in the street, sir. but if you're inside and you're in a place where the vaccination rates are low, as a doctor, i wear a mask and i have my daughter wear a mask. she's vaccinated, but she's not quite able to be boosted. stuart: i think the people are way out in front of you doctor, and that's a fact. we appreciate your point of view. thank you, doctor. >> yes. stuart: you influence the -- what's this? the influence of the -- i couldn't read it properly. i'm so fired up.
the influence of the freedom convoy in canada is spreading to europe? lauren: can i just chime in here? the people aren't listening to what the health care providers are saying. the kids are not wearing masks outside of schools, so does it even matter? this freedom convoy is about the freedom of choice. hundreds of protesters in at least two french cities now, they're marching to paris, they're marching to brussels, which is the seat of the european union. they want to end covid restrictions, and they want their freedom of choice. here's my take on it. the canadians are the most law-abiding citizens. the french, there's this groundswell -- [laughter] of fatigue, exasperation. and if you notice a couple of things going on in canada that point to that a, the police are avoiding maas arrests, and they're having trouble finding tow trucks to get involved here. the people, despite the polling in canada, really are saying, you know what? we might really be with the truckers here. leave me alone. stuart: exactly. lauren, thank you very much,
indeed. you calm me down nicely there. you've got to look at futures again. nasdaq down 300 points. why? because the 10-year treasury yield just went to 3%. that's a milestone -- 2%. the opening bell is next. ♪ ♪ -- treat her better ♪♪ gotta let go of all of our flaws, we both know we ain't kids no more ♪♪ i'm a fancy exercise bike noobie. and i've gone from zero to obsessed in like... three days. instructor: come on milwaukee! i see you! after riding twelve miles to nowhere, i'm taking a detour. and if you don't have the right home insurance coverage, you could be working out a way to pay for this yourself.
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so you get to feel like you're walking the same path they did. ♪ ♪ stuart: look on your screens. just moments ago the yield on the 10-year treasury hit 2%. that's a milestone. d.r. barton is here. t.r., you've seen the -- d.r., you've seen the inflation numbers. 2% on the 10-year treasury. i can't imagine that news is good for the nasdaq or the overall market. >> no, you're right. and you've got the order right as well, stuart. i think inflation's a little bit tougher, maybe even a lot tougher on the nasdaq than the broader market. but here's what we've seen happen in the past if, when we've had yields go up like they have, we'ved had yields go up for seven straight weeks, this'll probably be the eighth straight week, and that has been moderately bad for the s&p but
not terrible. so we think that this has a chance of turning around a little bit if we can get some better inflation numbers from some of the other things that the fed if will also be looking at a. stuart: do you anticipate better inflation numbersesome. >> not right away, stuart. i think we might be seeing a bit of a peak though here. you know, if we keep going up into these numbers, you know, highest since 1982, the fed is going to have to be a little bit more strip stringent in how they act a. that's going to be a damper. is right now i like where we are. i like picking specific stocks, and i probably hike the broader market a little bit better than the nasdaq. stuart: okay. number of new cases way, way down. the masks are coming off in some states. looks like we are going to speed up the reopening. do you have a reopening trade for us on the market? >> i do. masks coming off tomorrow in my home state and joe biden's home
state, delaware. a big, a big blue state here. so that's a good thing. and the reopening play is ups. i love what ups is doing. i think today, tomorrow may give us the pullback we want to buy it in the 220-222 range. stuart: would you consider a big tech stock today? after all a, they're being sold off vigorously this morning. >> two weeks ago, stuart, we bought apple and amazon right at this time slot right before the market opened. those plays have been great. i think a little bit more pullback will give me a lot more comfort. i like those big tech stocks for the rest of the year, but for right now i'm kind of happy where i am not to add. stuart: you're not buying anything today, are you? >> i am not buying anything yet because i would like to see the first half hour, and then i may be jumping in big. stuart: okay. d.r. barton, brave man, indeed. see you again soon. now look, you see on the
left-hand side of your screen, that's how the market is likely to open. pay particular attention to the nasdaq and big tech. the yield on the 10-year treasury hit 2% earlier, that's very much a negative for nasdaq stocks, big tech in particular. all right. we're about to start trading. it should be tumultuous at least in the early going. i have no idea how we're going to close, but right from the opening bell we're going to be down, and there is the opening bell. it has rung. we are trading. off we go. right from the start the dow is down, what, 285 points, there you go, and is we've got 27 of the dow 30 in the red. clearly in the red are. dow's off 260. the s&p 500, that is down 1.2%, a very significant pullback for the s&p. the nasdaq down 1.7%, okay? earlier this morning it had been down 2%, come back just a little. big tech down across the board. microsoft is down $6. alphabet is down, let's see,
$46. amazon is, 67. meta platforms down 5. that's a selloff in big tech. that's the overall market. nasdaq down in particular as well as big tech. disney, whoa, look at that. let's go -- [laughter] something strong, an upside move in a down market. now, wait a minute. susan, was in the streaming? was it the subscribers or was it the parks? susan: i think all of it, don't you think? streaming was 11.8 million few paid subscribers in the last three months of 2021, so that takes the total to 130 million subs. they're still gunning for as many as 260 million by 2024, so you do the math. netflix has 210, and disney is catching up pretty fast with just two years of existence. parks also impressive, pricing powerment you can raise your prices and people still come in droves, and that's what they did. the parks business back at pre-pandemic levels, doubling their sales from the previous
quarter. i'm not talking about year on year growth, quarter on quoter, she -- quarter. sequential doubling. stuart: that means we are prepared to spend money, because it ain't cheap at those parks. that is adding 56 points to the dow, so we would be down more than 200 -- susan: you multiply it by 6 or 7 because there's only 30 components on the dow. i do want to note that the reason the 10-year treasury crossed 2% is the fact that you have wall street and spreaders -- traders expecting a 50 basis point cut -- or hike, pardon me, in march. 50 basis points. that increased by up up to 50%. half of wall street thinks there's going to be a big move next month. stuart: that's a shock to the system. susan: yeah. stuart: show me twitter, please, because i know they reported earlier. susan: it's interesting. of course, that's what wall street likes, because in terms of earnings it wasn't pretty. you had misses across the board,
profit, sales, users coming in short is. only 217 million daily actives, they're going to do that accelerated program as well, and that's what wall street likes. think twitter, the rest of the big tech selling off because of that 10-year treasury yield crossing 2% for the fist time since august of 2019. stuart: how about coca-cola? >> it was actually down in the premarket, but it's now higher because of the movement of the 10-year treasury yield. value looks good in this type of environment of rising rates. now coke, yes, they made more money in sales to end last year, but guidance was weak heading into this year, and they're complaining about high inflation like a lot of other ceos during this earnings season so far. stuart: what have we got on -- susan: mattel, barbie maker. they beat on sales and earnings, they said that sales will jump high single digits this year. that's pretty impressive. and mattel has beaten six
straight quarters, and i know you're excited about this, the frozen princess is line going to mattel in 2023. stuart: is that a big deal? susan: it adds $400 million to the bottom line. the princess frozen line like elsa? stuart: i thought we were past princesses. susan: no, we love them. stuart: lauren? lauren: i buy a lot of elsa -- susan: there you go. let's talk about canada goose because we are in the winter sales period, and you would think this is a good time for canada goose. $1,000 plus down jackets and parkas. not enough sales, apparently, so they made less money over the winter so far, and they're blaming covid restrictions, especially the zero covid policy in china. stuart: have you ever heard of carhart? outdoor clothing wear for men and women who work outdoors. of. susan: yes. stuart: go for carhart as opposed to the canada goose. susan: is it as warm? stuart: warmer and cheaper and
longer lasting. susan: i don't know if it's urban-approved fashion, that's the problem. stuart: i'd be very surprised if anyone who lives in night as har even heard of ca hart. -- carhart. susan: earnings were pretty goo- [laughter] too, by the way. this is a cloud communications company. when you can't find your uber and stu varney needs to figure out where he is, it helps you make that call on the uber app a. it also works with netflix and other big companies as well. smaller losses, sales were a lot better, and they're guiding for strong growth not only this quarter, but the entire year. and, oh, by the cay -- way, they're cathie wood's eighth biggest holding. stuart: well, she needs a little help. [laughter] susan: you're piling on. stuart: i'm not being facetious, but show me uber. up 2%. are they past omicron?
susan: well, they say they are. and the fact that they're making money which is a trend that only started for uber in the fall. remember that they were struggling to make money in the 14-year company history, right? they finally turned that corner, and the fact that you have ride hailing recovering rather quickly, by the way, up 8% quarter on quarter. i'm not talking about year-over-year, that was a 20% improvement which is kind of a big deal, right? stuart: but they're speeding up quarter to quarter, that's a big deal. susan: and also uber delivery is a growth trend of 30%, so, yeah, it's all pointing in the right direction. stuart: the new ceo for peloton had a kind of zoom meeting, and it went crazy. supersuperyou had the disgruntled employees, 2800 of them are going to be losing their jobs, and those 2800 only gets compensation of a one-year peloton subscriptionment. [laughter] so you have irate employees that flooded into this all-virtual meeting that also had the founder and ceo and former ceo
john foley onboard, and they were just upset. they were flooding the entire virtual meeting with a lot of nasty comments. stuart: didn't go well, did it? susan: no. but i to want to talk to you about one deal, you tell me what this deal is. well, look. stuart: blackstone. i own a thin sliver, on your screen now, down the %. they sold, what, snoop snoop dogg's music? susan: i just really wanted the hear you say that. [laughter] yes. so snoop dogg owns death row records. have you herald of that? stuart: absolutely, i have. of. susan: dr. dre, of course, also where snoop dogg startled his career and tupac. so it's interesting that you have snoop dogg buying death row records. i didn't know that blackstone actually owned death row records. they own mrk entertainment which owns death row records, and that's why they were able to sell it. very eclectic portfolio that a
blackstone has. stuart: that's for sure. the range of stuff is really extraordinary. susan: yes. mostly real estate. stuart: that's true. susan, thanks very much, indeed. we're looking now at the dow winners. top of the list is disney, of course. they're up 5%. that's adding quite a lot to the dow which is still down 200. and the s&p 500 winners, micron technology is there, disney's second, kelloggs in there as well. nasdaq winners, am i going to see a big tech on there is? no, i'm not. my con at the top, fox corporation doing well. thanks very much, indeed. okay. we are now eight minutes into the trading session. we're down 240 points on the dow, two-thirds of 1%. the 10-year treasury has background off -- no, it's not. back again, 2% yield on the 10-year treasury. not good for the nasdaq. the price of gold still at 1830, not doing much. bitcoin right now is down to $43,000 a coin. oil, haven't checked that yet this morning, $90 a barrel.
nat gas, where's that? up or down? ooh, down significantly, below $4. the average price for a gallon of regular gasoline keeps going up one cent a day, you're now at $3.48. $4.68, the average for folks in the formerly golden state. the white house message to americans who may become stuck in ukraine, you're on your own. roll tape. >> -- happens to americans if they do get stranded in ukraine? >> so what people should understand is that the united states does not typically do mass evacuations. what we're encouraging american citizens to do is depart now, obviously. stuart: okay. retired four-star general jack keane will join us on that subject later next hour. that is a no. joe rogan turning down rumble's $100 million offer to move his podcast. has rogan been seven statured? i used to think it was just
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♪ call me, call me any if, anytime. stuart: that is san francisco. i believe that is the bay bridge. and there's the clock tower -- i think that's what it is. it's only 55 degrees right there right now, and the sun is just coming up. then we've got samsung. they have revealed their new galaxy s22 smartphone. mark spooner has the phone in
his hand, i believe. you've got one with you? yes, you do. >> right here. stuart: so you have this thing, you know what it's all about. what's so good about it? >> okay. so the big news is that samsung is going right after apple with this phone, and what they're trying to do is a few things. one, it's the first galaxy phone with an s10 built in, so they're taking the best part and bringing it over to the s3 line. so you can use that for taking notes, drawing, and it's also good for scribbling text into any field. the handwriting recognition's gotten a lot better. the big news though is actually the cameras, because it's much better in low light. in fact, last night i was taking pictures in almost complete darkness, and what's great is the night mode is so great, they have a new name for it. you get much better details without having to use the flash, and the other big thing is that the display itself, it's a 6.8-inch, and what's amazing about this is that it's even brighter than the iphone 13 pro max outdoors.
it goes up to 1750 -- which basically means even in bright sun light, you're going to have no problem reading this thing, and there's a built in finner print sensor -- fingerprint sensor. the quality of the video, if i head over here, you can see what i took yesterday, and you can get a sense of what the quality of the camera is like as it zooms in here. stuart: okay. that's pretty good. yeah, that really is prettied good. wait a second, you're a professional person who critiques these things. you critique technology. in your opinion, how does that s22 shape up against the iphone 13 if pro? >> i would say that it takes a little bit of guts for samsung to charge more than the iphone 13 pro max because it's 1199, so it's $100 more. but you are getting a little bit more for your money in certain areas. faster charging, 45 watts means you get to 50% in just 20 minutes. the ca -- cameras are great, but
it's really happy to pull people away prosecute iphone because people are -- people away from the iphone because people are happy with it. but i think samsung is definitely starting to catch up. that was one of the few areas they've been behind, the camera, and i'm in the process of doing some head to head testing, and our full ratings review will be on tom's guide over the weekend. stuart: well said. i'll have a look at that. thanks very much for being with us, mark. >> thank you. stuart: the mayor of new york city, eric adams, took his first paycheck in bitcoin. he said he wants to make new york city the center of crypto trading, so why, lauren, is he against crypto mining here? lauren: because he's listening to the local environmental is. and i want to share a quote with you. it comes from a group. bitcoin mining could cost new yorkers millions of dollars in energy bills while kneecapping local business, poisoning water and and filling our air with co2 emissions. if we don't act quickly, we
could become a cancer on communities of color. stuart: i guess now i understand. lauren: the stance is hard to reconcile because you can't have your cake and eat it too. you're actually taking your first three paychecks in bitcoin and ether, but most of those don't exist without the mining operation, so he's got to figure it out. stuart: it is an absolute minefield, it really is. thank you, lauren. the los angeles county sheriff's department may lose as many as 4,000 deputies because of the city's vaccine mandate. the man in charge, sheriff alex villanueva, is fighting that a mandate. by the way, he's in charge of security around the super bowl for this sunday. the country's largest auto show, it's coming to chicago. it's about to open. we're going to take you there for a live preview. what looks good. we'll show you. ♪
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you're looking at it. the arm price for a gallon of regular gasoline in america is now 3.48. as we said, it's going up one cent a day, and it's now up exactly $1 from this day last year. democrats, we are told, do indeed have a plan to lower gas prices. i've got to hear this, lauren. lauren: they want to remove the federal gas tax of 18.4 cents a gallon for the rest of the year. great, they recognize there's an inflation problem. they recognize the political consequences of it, but it's frustrating that they're finding alternate solutions right now without acknowledging that their policies caused the problem. also by taking away the federal gas tax, you dig a hole in the highway fund. stuart: yes, you do. a big hole. lauren: that you have to fill. stuart: that's infrastructure. lauren: the solution is causing another problem. stuart: nice turn of phrase there. very good. all right. let's get to the chicago auto show which is about to kick off, and our own grady trimble, he's there. all right, grady, have at a it. what catches your eye?
go. >> reporter: stu, this vehicle did. it's an f-100, but believe it or not, there is an electric motor inside this vehicle. i'm with mark wilson who's with ford, and and you can see behind us the more modern electric vehicles. the mach e, the halve maverick, the f-150 lightning, but why would somebody want to retrofit a truck like this one from 1978 with an electric motor? >> ford's looking for something different, and electric vehicles are all the range, so we've developed an electric motor or that people are able to retrofit in a vehicle like this one, and we've demonstrate for people to see what are the possibilities. >> reporter: and this is the exact motor that's in the mach e, you even have the touch screen display in the center console. kind of interesting juxtaposition. >> yep, it is. it's the best of both worlds. you've got the great look of a classic vehicle with the modern convenience of a new vehicle. >> reporter: and, stu, the folks at the auto show say this
show is more relevant than ever because supply of vehicles is so tight. they have hundreds of vehicles from 19 manufacturers under one roof, so if the exact vehicle you're looking for isn't available, you can look at other options that you might be able to find on the dealership lot. won't be able to find this one on the dealership lot, but you could buy the motor for if it and put it into your own f-100 if you have one. by the way, the average sales price for a new vehicle these days, $46,400. but the folks at cox automotive say prices have peaked, so there might be good news. prices might stay high, but they will be coming down, folks at cox say. we're going to take this thing for a spin because, well, the electric motors are pretty impressive. they go from 0-60 in how quick? >> five seconds. stuart: i'll take it. that's not bad. lauren: i don't hear anything. stuart: silent too.
of course, the microphone's gone with the car. [laughter] all right. the market has come back, ladies and gentlemen. the nasdaq composite was down 300, now it's down 90. the dow was down 200, now it's down 90. bit of a comeback. take another look at the 10-year treasury yield. oh, it's backed off too. you're back to 1.98. still ahead, florida senator rick scott, retired general jack keane, brian kilmeade, pete hegseth. the 10:00 hour of "varney" is up next. ♪ if i'm coming up. ♪ i want the world to know, i've got to let it show. ♪ if i'm coming up ♪♪ ♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard
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interest rates because the yield on the 10 year treasury hit 2% backed off to 198 but interest rates are going up after this report. big tech down across the board. meta-platforms slightly higher because of rising interest rates. bitcoin coming in at 44,$000 per coin as we speak. mortgage rates. are they going up? lauren: 3.69% up from 3.5% the week prior in the year ago 3.7%. freddie mac says this will have adverse effects on homebuyer demand because rates are up there again. stuart: i will repeat the news that broken 8:30 eastern time. inflation, real jump in the inflation rate.
7.5% over the past year. looks to me, digging into those numbers, inflation is accelerating. charles: people are getting nervous, doing bulk buying, the wall street journal had a great piece on this. they don't think anyone has a solution, that is the demand-side driver pushing this. this is eating into 50% of people's discretionary income. this is the breathing room, this tax is enormous and pinching people where they need extra help. stuart: the way they do that is to raise interest rates. >> you want to buy a car, it will hurt once you get behind on inflation. the pain is greatest when it
gets behind where we are. stuart: let's see how this protect the market. gary, you're a stock watcher, what's your reaction? >> inflation numbers terrible. and he will supposedly cure all this, he should be raising rates and stop money printing today. it would look like an act of desperation. financial collapse will be, oil prices going up. oil stocks are strong and because of covid going away. the travel stocks are all over my screen.
i can tell you marriott breaking into new high ground, they are instead, others not so great and if interest rates keep going higher, other areas look decent. stuart: how come the market is coming back. 20 minutes ago, we are down on the dow, 200 points. we are down 65. why has the market come back? do investors think inflation will be tamer come summer in the fed won't raise rates as much as we thought? >> the market is acting better and we get momentum here and i was thinking near to they would hold this up and it is up 60
dow points. there is good reaction to earnings and earnings trump everything. as far as interest rates go, you go to a half and even higher that will provide, it seems the markets have a little momo in here. stuart: haven't used that in a long time. >> i'm here in florida. your interview with doctor adams you were spot on. i've been here this whole time and we've been open forever. disney world was open here before disneyland in california and people are coming around. i wish the rest of the country felt the same way.
stuart: you are talking about the interview with jerome adams. i had ago at him so to speak. glad you were watching. toyota is one of the movers today. lauren: i want to bring you breaking news. another border crossing has been blocked. there is an event in quotes occurring on highway 75 and truckers are stuck 4 hours. stuart: i think public opinion will move against them is a worthy goal, get rid of the mandate but the tactic has big pr problems. what do you say about credit suisse? lauren: biggest quarterly loss in years. he will of the reason. it is timely. banker compensation and restructuring costs. look at the stock. stuart: i see on my prompter
data dog. lauren: when you say cloud and security you are popular so stock is up in a big way if we can give you the ticker. it was up double digits. i want to give you the real numbers. data dog is up 16%. stuart: data dog. i shall remember that. >> you want to stay on the show? calm down, now this. the trucker surprised us all. who would have thought there would be an avery demand for freedom and one of the most peaceful societies on earth,
the in disrupting cross-border trade. american truckers are organizing convoys of their own. they may target the super bowl in los angeles or the state of the union message in dc was the goal is to get rid of the max mandate. it's wrong to fire unvaccinated healthcare workers we were calling heroes and wrong to stop unvaccinated canadian truckers returning home but i have doubts about the convoy and the blockade is a tactic because it causes economic pain and it will shift against the anti-mandate cause. the truckers blockade disrupted the supply of components which imagine the frustration if the super bowl were to be targeted or america's supply chain restrict more by trucker convoys. if your life is disrupted by a political protest it will lose
support. now is not the time to inflict pain. support the goal, adjust the tactics. here is mercedes schlapp to tell me if i'm on the right path or not. will the truckers lose support if lives are disrupted? >> they are walking a fine line but their message is powerful against this liberal almost radical prime minister who refuses to meet with the truckers and blames them and condemns them of hateful rhetoric, they are singing the national anthem and these truckers have a strong message which is we don't want these mandate.
trudeau started the problems with policies like lockdowns, mandates, worker shortages. it is trudeau's fault and i think the fact is if he things he can get away with that i don't think he can and for the truckers they have to manage this carefully but they have every right to protest and speak up because these economic woes started before the convoy started. stuart: i talked to jerome adams saying we should keep going around in masks. i had ago at him. i said these public health policies we have pursued for the last two years are the worst in america's recent history. what say you? >> i agree. we have to understand the mental state our country and the world is in because of the mandates they put in place and
they can't back them up with science so it is fascinating to watch, you have democrat governors abandoning the mask mandate in many states, in massachusetts and new york but it is time to move on. we have the vaccines, therapeutics, omicron is declining a number of cases and people want their lives back and that is the critical point. and for the kids it has been very traumatic. stuart: i know you are fired up. i wish we had another 10 minutes. >> you might jim why he is there. stuart: i have a bubble thing, the queen of england, that and moves. i decided to put it on set.
don't touch. back to the original question. the worst public health policy i've seen in american history. >> and it is creating this absurd fear. in my apartment complex, a little boy riding his bike had glasses and a mask on, his lenses so far the p couldn't see where he was going on the path, he's trying to ride his bike blind. that to me is the perfect metaphor. we have a choice, we keep them out of the mask and it is so good for them to see each other's faces. stuart: the sheriff department could lose thousands of foyers -- employees who refuse to get the jabber. this stunt will be a threat to
public safety. iran could have enough numeric nuclear material to build a bomb in a matter of weeks. if you are an american stuck in ukraine jen psaki says he will not get help from our troops of russia invades. >> what happens to americans if they get stranded in ukraine? >> the united states does not to mass evacuations. what we are encouraging them to do is depart now. stuart: jack keane will take that on. the general is next. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed.
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stuart: russia has started 10 days of massive military drills with belarus. the latest from ukraine. >> reporter: the big question is what happens after the major exercises end february 20th coinciding with the end of the winter the pics in beijing. nato's secretary-general spoke with boris johnson. >> this is a dangerous moment for european security. the number of russian forces is going up. the warning time for a possible attack is going down. >> reporter: today kicks off 10 days of joint exercises between russia and belarus. 30,000 russian troops taking part. russia's on general flying to belarus to see the wargames with russian fighter jets have taken to the skies to begin
flying combat patrol with russian warships entered the black see which borders ukraine, this and making a port call in crimea. the defense minister says russia blocked the waters offshore in anticipation of missile tests. military experts think these warships are the assault force into ukraine. the coast guard, the coastline in ukraine is defendant, the us military making moves in the region on ukraine's border. members of the u.s. army sent a cavalry regiment to set up camp in anticipation, 30,000 americans from ukraine if ordered by president biden. f-15 fighter jets from england to poland to bolster nato forces and ukrainian forces launching 10 days of wargames and american bombers arrived in the last few hours was the air
force calls that deployment. stuart: according to jen psaki, we are not going to get americans out of kyiv by using troops. >> people should understand the united states doesn't do mass evacuations. we are encouraging them to trust now. stuart: what should we be doing in ukraine? >> we squandered our opportunities here, a long time ago when the first provocation took place in spring we should have increased the number of advisers to the ukraine military, on their shopping list, not just antitank weapons but antiaircraft weapons, anti-ship weapons, and that is
when we should have deployed our forces to reassure our allies and could have begun economic sanctions to get putin's attention the we are not going to put up with this but we squandered those opportunities and this is imprudent's hands. he said to president macron of france that belarus is just an exercise and when the troops completed the exercise as lucas mentioned, they are going home. we will see if that happens. we are coming down to the diplomatic phase still going on. ukraine, russia, france, and journey meeting in berlin and the opportunities for a poetic solution are considerably less but hopefully that turns out something positive but i'm not optimistic. stuart: i want to talk about iran. the white house says iran will
have nuclear material capable of building a bombing two months. what should we do about that? >> the biden administration, the original deal obama made was severely criticized as being inadequate, trump got out of the deal and forced of sanctions on iran. what the biden team did when they came in, they immediately began to not enforce those sanctions. the biden administration looking for appeasement. for a stronger, better nuclear deal and they abandoned those words. what will come out of this nuclear deal if there's an agreement is a worse deal than we had in 2015. the iranian 7 not been
forthcoming about what they are doing secretly. we are in a more dangerous situation because we give them sanction relief. billions of dollars like they did in 2015. they used that money to fuel the consternation and aggressive actions in the middle east. that is what they do. what do they do with this windfall? they will be buying rockets and missiles for hezbollah, to follow in the un and saudi arabia. increase the instability. that is what we are facing. stuart: elections have consequences. general jack keane, appreciate it. brian bromberg, you have been listening to this. if donald trump were still the president i don't think we would be in this mess.
>> the theme is squandered opportunity with russia and ukraine, agree or disagree with trump's policy he was firm and went after these regimes where he knew it would affect. the biden administration has not wanted to do that and we are in a situation, can we do anything? has the ship sailed? in a lot of these cases it looks like it has. we are trying to contain the damage. lauren: those countries are emboldened, iran just tested a missile, 1200 mile range, could hit israel. stuart: we have trouble on a variety of fronts, military policy, inflation, the border. >> elections have consequences and it applies to every one of these issues. stuart: the famous mattress mask, making enormous bets on
sporting events. who does he want to win in the super bowl? we have the answer later in the show. joe rogan turns downs offer to move his podcast. has he been censored by big tech? vivek ramashwami next. ♪♪ just shut up ♪♪ shut up ♪♪ shut up ♪♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this!
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stuart: this justin. prince charles has tested positive for covid. royal sources said he recently met with the queen. she's not displaying any symptoms. to the markets. it started as a big market after news of a 7% inflation rate. we have come back. the dow is down 78 points. the s&p down 15 points. we got some movers starting with unilever which is a vast supplier. lauren: hellmann's mayonnaise, inflation will dent their profits for two years and they will raise prices across many of their brands.
it will differ by market. we also know they raise prices by 3% last quarter. if you look at that, prices are up 130%. that is eating at their margins. rbc says there. raise prices is limited. that is a head wind. stuart: i don't know whether pepsi reported this morning the stock is down one%. lauren: they are calling labor price pressures, aluminum costs, relentless. stuart: disney started out well and are still doing well. lauren: record margins. they are getting back to pre-covid levels without the international tourist, their per capita spending increasing 40%. the consumer is spending money
to do stuff. stuart: expensive places to be. a different subject. joe rogan turned downs offer to leave spotify. rogan was censored. i used to think it was just social media that did the censoring. now the audio platforms getting into the act. >> it is our culture. sometimes it is social media, sometimes corporate america and podcasting. spotify made a mistake. they try to differentiate themselves. they paid to bring someone like joe rogan in an exclusive way. this is an opportunity to say we prize diversity of viewpoints. i say this is someone who disagrees with joe rogan on a lot of issues. i think he should still be able
to say it. if you want the mainstream view on covid read the new york times, watch cable television but if you want an alternative perspective this is a place to get it and the new culture books to silence dissent and spotify could distinguish themselves but they didn't. stuart: seems to me big tech is trying to put us all in an intellectual straitjacket. do you see it that way? >> this is what george orwell worried about in the form of government, government policy constraining free-speech. what he didn't foresee is the way private companies and culture could be more culturally totalitarian government itself was that the moment we live in but the opportunity spotify missed is an opportunity for someone else to prize free-speech and open debate. i don't agree with what you say
but if i have a podcast platform part of that is to give voices to people i disagree with. they are fed up with censorship. stuart: a lot of companies have to look at their own employees who will revolt if that company puts out material they don't like. they get ambushed from within. >> if you work on a podcasting platform and say i don't like what somebody said i would say express yourself and get back to creating value for the company and if not you should not be working at a podcasting company but a political party. in certain ways leaders are leading their employees, like a parent -- ceos should lead. stuart: they are scared of them. come back soon. brian bromberg. i talked about being put in an
intellectual straitjacket. >> there is a set of people who dominate twitter and think americans can't listen to a conversation and just listen and maybe disagree or not disagree. they say people are sheep and what they hear they will act. joe rogan says don't take my advice. that's what listeners do, they don't take his advice. they just like the conversation. we are trying to kill conversation in this country. you kill that all sorts of things i. stuart: moving on. one virginia school district wants to higher social media monitoring service, they want to record what everyone is posting online. lauren: they are tracking social accounts or hate speech and potential threats. fairfax county school district
allotted 200,$000 for this project. this is what this segment has discussed. they are watching what you say it if it doesn't conform to the broader point you will be censored. stuart: when my kids were growing up i given two books by george orwell. >> just two? stuart: two in particular. 1984 and animal farm. superb books. >> they describe our moment. i'm looking at fairfax schools, there's nothing left for my kids in this district. every week there is a new controversy. it is the alternatives we've
got to be talking about. i don't see this problem getting better before it gets worse. of fairfax hasn't gotten it yet you won't get it for a long time. stuart: home schools, private schools, alternative -- >> money follows the kid is what it is all about. stuart: you are doing all right. >> earning it back after the queen incident. stuart: we will get to it later. i will tease what is happening, a new disney show teaches toddlers how to be woke. >> your skin is darker than hers. >> micro-aggression. i wonder if pete hegseth will let his kids watch? shell out serious money for your super bowl party, alcohol prices up. how much it will cost you.
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stuart: this market is all over the place. first thing this morning we found we got a 7.5% inflation rate and the market went straight down with the dow is up seen, the nasdaq down a fraction. president biden says the consumer price index report is a reminder that americans budgets are being stretched in ways that create stress at the kitchen table and there are signs we will make it through this challenge. let's move on to the super bowl. hosting a party will be more
expensive than last year. madison all worth in new york. i presume they are hiking prices. how much? >> reporter: they had to adjust prices. they increased by $35 for their party back and the owner tells me that's not enough to keep up with inflation. this is a problem we are dealing with right now it is happening across the board. your sunday spread will cost a lot more. look at those favorites. beverages if you are stocking up, that will cost you 5% more. when it comes to meet, that broad category, up 13%. then poultry, chicken, up 9%. all of this adding to an expensive tab for our favorite sunday football game. in those categories there are larger price spikes, no one
knows better than john, you guys had to increase prices. how much more is the chicken costing you and have you adjusted the same margin? >> we are looking at four times the cost based on previous years but we didn't raise our price four times for the customer but we did raise it and we are catching backlash for that but we apologize, we are doing the best we can with wholesale costs. we went from 65 to 99. >> reporter: you are catching backlash. if you increased such that you take on the same margin of 2019 what backlash would you have gotten? how much would you need to charge? >> $200, that would be crazy. we will work with what we have. >> reporter: from a restaurant perspective that all you can do. the reality for those shoppers
at home everything is costing you more. your noticing the grocery store when you go out to eat it is a lot more into this report made you want to grab a drink i have bad news, alcohol is 4% more, that brutal cost you more. stuart: john, the wing guy, charged $65 for 50 wings in 2019 and the same 50 wings is $99 now. that is inflation. forget the booze. when they go up like that you have a problem. bromberg still hanging around. you are an early to bed early to rise kind of guy. >> saltine crackers and water is what we can afford. stuart: i never see even a
halftime show at the super bowl. i'm not taking monday off. >> it will be great. stuart: will either of you place a bet on the game, legal or otherwise? >> i will not the lauren is a big better. lauren: everyone at my super bowl party i'm not hosting for sure. stuart: gambling is one of the devices which i do not have. >> paragon of virtue. >> we should make a bet right now. stuart: the under over is 38.5. not that i'm putting any money on it. houston's mattress mac place a record-setting super bowl bet on caesar sports book. you know about this. how much was the bed? lauren: it was 4 million which is a record for mobile betting and it was on the bengals,
$7 million so you risk $170 to win 100. he had to make it on caesar's sports book because they handle the big lump sum and drive from texas to louisiana because they made gambling legal. one third plans to bet on it. one third. i thought it would be higher. stuart: it will be when they extend legal sports betting. it will change. thank you. >> no thanks to you. stuart: listen to this. donald trump says mitch mcconnell does not speak for the republican party. real fracture in the gop. florida senator rick scott will take that on. he's a republican. rampant shoplifting causing many stores to lock a basic necessities.
it's gotten so bad even the reverend out sharpton is fed up. >> you got to get someone to assist you. they have a little button and the guy comes over and unlocks your toothpaste. stuart: i don't know why the characters around him are laughing. brian kilmeade deals with this next. ♪♪ ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care,
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first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious
—and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. stuart: we always join brian kilmeade. i don't know if you can see these pictures. they were taken by one of our producers in new york city. everything locked up. the reverend out sharpton talked about this. >> you do right 8 or any of them and you got to get someone to assist you. what did i miss that we have to
lock up toothpaste? we cannot have a culture where people are at random robbing and stealing and it is out of control. stuart: this is the man who helped push the soft on crime policies and they last at the results. >> not only do you think it is ridiculous, 70% of new york voters say crime is a serious problem. going to bet against city council, you got to get rid of the no cash bail. if they get a desk appearance ticket, one person was arrested for robbery 39 times.
the author of 1619 project, this drumbeat for mass incarceration is terrific. stealing steak is not national news. she is referring to what was stolen from a store, 10 of them and no one could stop them. stuart: how is this great city going to come back. it is a nightmare from beginning to end. shoplifting left, right, and center. i don't see how the city comes back. brian: determined but people enough to don't understand quality-of-life is at stake, not if my team wins this election, can i have one person who is strong against crime and strong for the citizens as
opposed to someone who has a big heart for someone stealing your car? throwing you in front of the tracks on the subway, taking your things in a retail store, destroyer restaurants by harassment? the committal element is taunting us and they are under the skin of the mayor already because he's paying the price, he replaced the most inept mayor ever but his approval numbers dropped. stuart: i can go outside the studio without a mask and go to a restaurant and eat without a mask but the kids still have to wear a mask in new york state until next month when the governor will reconsider. that's not right. brian: it is ridiculous and this is what the governor said. the city is not on board with this. the governor said let me see what happens after spring recess or winter break.
let's wait another 10 days. back to what scott gottlieb said, cloth masks, the former fda director, clock masks are not going to provide a lot of protection. this is an old born illness with:00 mass won't protect you from a virus that spreads through the air. you are making us wear something that doesn't work in torturing kids every day in school. stuart: thanks for being here. you are telling me this is very common. brian: the target across the street from where we live. you can't buy men's sweat socks in that target. someone has to unlock the socks. the men's socks. i've watched people eat dinner, they sat down in the aisle and ate dinner. stuart: there's a right aid as well. you are telling me most of the
time you've seen shoplifting? >> i've never been there without shoplifting happening, with my daughter, my 13-year-old daughter. lauren: can i tie this to inflation? a worker to open the shelves for you. they need more workers so you can buy stuff. stuart: still ahead. pete hegseth, florida senator rick scott, alex though in a waiver, doctor marty ma carry, she says she's following the science, she's following randi weingarten and the teachers union. that my opinion and it is next. ♪♪ a kick in the head ♪♪ a strategic and sustainable asset...
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>> when there's this much, thus far ranging of views you have markets all over the place. >> this has a chance of turning around if we get better inflation numbers, right now i like where we are. i like the broader market better. ♪♪ stuart: what is that music? funky town. you get to a certain age and squint and can't read properly. at 11:0 one eastern time. it is february 10th all day long. i'm certain about that. check the markets. what you are looking at is market reaction to 7% inflation
rate. when the market opened it went straight down, recovered a little and went straight down. show me big tech. that is all over the block. we are all down. everything one of the stocks is down. the yield on the 10 year treasury is 2.0 one%. and rates go up like that big tech goes down. now this. living and working in new york is not easy. this program have a soft spot for florida. there are two developments that are ridiculous, hard to believe this is happening in the empire state. these are pictures taken by one of our producers, stores are locking everything up, deodorant, toothpaste, razor blades, batteries, scotch tape. you have to find someone with a key to get what you need.
this is happening across the city because thieves have been walking into stores and walking out unchallenged. it's not isolated incidents. we show you the guy stealing 10 stakes. eric shawn videoed the guy in a drugstore walking out with it. it is so bad they are locking everything up. item 2. governor huchul is keeping kids in masks all the everyday until next month. the governor says adults can take the masks off the kids can't. she says she is following the science. she's following the teachers union, keeping kids in masks until there is 0 danger of transmission. the only solution is politics, the vote, democrat politicians who degraded the state have to be voted out. third hour of varney just
warming up. sitting next to me and listening to my rant is peter hegseth. i find it incredible that in this city everything is being locked up because of rampant thievery. pete:that's toothpaste and deodorant under lock and key. when laws are not enforced you lock it up and have someone with a key opening up, which has to bring profits down if you ask something to be opened up every time it is cumbersome for everybody. politics is the only way out of it. across the river in new jersey kids still in mask in schools in new jersey and will be for
another month but because phil murphy barely survived he had to attempt to look like he's opening up and they need to create of you of a new normal that running against groups like the teachers unions. the idea that adults can come out of masks the children can't is almost sadistic. teachers unions and others same because of the health of teachers who are vaccinated and boosted i'm sure it all these schools and can wear 3 masks if they like the kids have to stay in masks. stuart: nine the ten democrat states made the switch against mask mandate. the white house is holding out. the white house is behind the democrat governors, they have to catch up at some point and that will be an enormous reversal for president biden.
>> he believes by walking from marine one to the white house outdoors in a mask he setting an example for somebody. that's why the controversy of eric garcetti who can hold his breath for days and days apparently. stuart: sarcasm is a low form of which. >> or stacy abrams who said she was for a moment taking her mask off. virtue signaling is the only signal as you cover inflation, crime, the border, everything else. they are losing grip on what people feel. it is the only pedestal. such an easy offramp. stuart: i want to know if you were to let your children see this, disney's series on disney called rise up, sing out teaching racial equity to the eyes of children. >> your skin is so much our
computers we told it. did that comment make you feel uncomfortable? that is micro-aggression. >> micro-aggression is one someone says something that makes you feel that sometimes because of your race. stuart: micro-aggression, your head in your hands. i would not want my grandchildren to see that. i think it is destructive. >> as opposed to teaching our kids to say one thing, people have different shades of skin, it's a fact but the only thing you judge them by their by is the content of their character. i have disney plus on my apps on tv and i thought about it driving in, why wouldn't my kids stumbleupon this? my kindergarten students, this looks like a fun show and then says what is micro-aggression? mi supposed to talk about different skin colors? we are taking the wonder and
beauty and imagination out of kids and teaching them to be investigative reporters. stuart: dividing at the earliest age. >> that's what they want. stuart: i wish you had another ten minutes with me. acknowledge the queen please. the bobble head will be here for some time. she waves her hand. you are all right. let's get to the money. stocks were all over the place. bill baroque is with me. inflation 7.5%, 40 year high and looks like inflation is accelerating. i can't believe that's good for stocks. >> volatility continuing, almost a 2% rate and the s&p filing it.
the cpi number, inflation is high and it is pushed ahead. if you look at quarter one of last year the average cpi would be one.4%. this is year over year but look at june through august, the average inflation is 4.3%. year over year numbers are more subdued as the year unfolds. what i told my clients, we think it will be hot next month too but be patient for the opportunities that arise because the tightening policy is priced in a different is priced higher there's more opportunity. stuart: why do you think gold will hit $2,000 an ounce this year? >> you are seeing coming into this inflation number or even
before it you had 125 basis points priced in with 80% probability. that will slow growth. in the past several weeks we won't see that. we are lucky to get 3 hikes. the dollar tops at the onset or early stages and the rate market as those hikes, probabilities, 2.one%, that will pave the way when volatilities dissipate to pave the way for a bullish pattern in gold. we are going to run. stuart: you made your point, e you again soon. some stocks are moving. netflix down one%. lauren: disney is closing the gap with subscriber additions and contents, doubling down an
international content. that's how they expand the base and they have 1 million fewer subscribers the netflix but look how much longer netflix has been in the streaming game. stuart: occasionally i follow otto zone. they are down 4% but o'reilly is up. lauren: o'reilly put out the latest numbers but they say we will take a margin hit because they are not taking prices for consumers. if their competitors do, o'reilly will get the business and that is what investors are responding to. stuart: kellogg is down this morning. i thought the strike would hurt them. lauren: the full year profit forecast was strong, pop tarts, pringles, all costs more. stuart: you can put the price
up and maintain them. in the survey shows workers want more flexibility with their jobs but remote work might not be the solution with the sheriff's office might have to fire 4000 employees who refuse to get the jab. this is not the time for mass firings. russia holding military drills as tensions rise with neighboring ukraine. christian wyden take this on next. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire i'm ben affleck anday. i want to thank you for joining me and
supporting paralyzed veterans of america. i joined the navy to serve my country as a navy seal. i wanted to protect the people i love and the country i love. being a seal gave me so many things, but i gave something too. while parachuting with my platoon, my parachute didn't open. i broke my neck. it left me paralyzed. i realized that everything i had planned for was now gone. paralyzed veterans of america was by my side from that moment on. since 1946, paralyzed veterans of america has kept a promise to our wounded veterans. we will never leave a fallen comrade behind. our vets need you. join me with your support. please call or go online now to pva hero.org. your gift of only $19 a month - just 63 cents a day, will provide the life-saving help our paralyzed heroes
need now. with your monthly support, you're honoring the sacrifice our wounded veterans have made to defend our freedom. show them their sacrifice has not been in vain. your monthly support will help paralyzed veterans receive specialized medical care, support research and treatments, and fight for the accessibility they deserve. pva fights to help veterans like me from the moment of injury and for the rest of our lives. call or go online right now with your gift of just $19 a month. use your credit card and receive this pva team t-shirt to show that you are fighting for our paralyzed veterans. i just don't think my family would be as happy as they are without the support that i received from paralyzed veterans of america. our veterans fought for us. let's fight for them. call or donate online at pvahero.org today. our veterans need you.
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reach their goal of hiring 10,000. in texas and utah 75% of sales made online. russia and belarus began on the border of ukraine, the us military preparing a plan before they cross into poland. christian wyden joins me now. proven seems to have gotten what he wants. the germans wouldn't allow it. he got what he wants. >> he wanted ukraine to have no deployments. he wanted to put himself on world stage with other world leaders, he accomplished all of that.
the biden administration didn't negotiate in earnest. whether the united states agrees and whether the ukraine, germany and other members to prevent that. stuart: when the olympics are over he invaded ukraine? >> in early 2021 massing troops, there's a good reason to be cautious. it involved dressing it up as an exercise like this. french president macron has given them an offering. why bother holden occupy a country that doesn't want you. stuart: iran, just weeks from
having nuclear material and producing a bomb. do you think we would be in this position if biden had not rejoined the iran nuclear deal? >> know we wouldn't. iran is on the offense or defense, taking american diplomats hostage. when you have them on the backflip, when they visit iraq as head of part of iran that is part of exporting jihad, they become more focused and less energy to the vote and it was signed in 2015 by the obama biden administration didn't get rid of the nuclear program but enshrined it, left the advanced centrifuges they are using to enrich uranium. stuart: this foreign-policy mess seems to be the result of the debacle in afghanistan.
along, the russians in ukraine, the chinese against taiwan, the iranian's with their bomb making facility. this is spilling out of afghanistan. >> the iran stuff was the all sheila from the obama administration added to the fact that anything trump did was bad even if it led to things like peace in the middle east but exacerbated by failure in afghanistan and that is driving this tough language on russia the doesn't match reality. stuart: peace in the middle east between israel and other arab states. only what trump was doing wrong. i'm sorry i am out of time. we will see you again soon. check the market. we are down and up and down.
what we have now is down for the dow, down for the nasdaq, 74, 24. all of this follows the 7.5% inflation rate reported 3 hours ago. wells fargo set a date for employees to return to the office. they can come back to the office regardless of vaccination. lauren: a san francisco bank. march 14th, vaccinated, and vaccinated, come back, fully vaccinated you are free, if and vaccinated you get tested and have to wear a mask. stuart: i wonder if others will say drop the vaccination mandate. >> look at the locality and decide the best policy. stuart: a new survey shows the remote work may lead to more burnout for the workers.
lauren: people who work from home and not the office, waking up earlier, going to bed later, all day long. 58% say their job is the main source of their mental health challenges. four in ten say flexibility and hours is the most important item, we don't care where we work but once control of our day. stuart: did you like working from home? lauren: yes and no. my situation is different because i have young children. once they saw me was impossible to work so i had the whole time. i liked when they were out of the house and i had a break, throwing on laundry or do something personal. stuart: you were working more throughout the day? lauren: i was very lonely. no interaction with people, me in my little room. i'm a supporter of flex
flowers. when we are in person i do have likable hours at fox and i feel like you do too. you do your show in figure out how to do your show in your own time. stuart: sort of. lauren: no one says you must be here and leave at this time. stuart: i'm here not:00 sharp. lauren: you dorm our work the 9 to 12. no one tells you to do when it other -- i getting in trouble here? you have flexible hours. stuart: comments about this. the chinese tennis star just reemerged at the winter olympics, she walked back assault allegations she made against a member of the commonest buddy. senator rick scott think they
are covering up abuse. 70,000 people will attend the super bowl in la, dozens of agencies working to stop any potential threats. jonathan hunt looks at security for the game. his report next. (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money? (judith) yep, we do better when our clients do better.
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stuart: not a bad band for the 1960s. chicago looks freezing but it is 30 degrees right there right now. the man of the hour who called the market quite well in the last couple weeks joins me again. inflation 7.5% over the past year. looks like inflation is accelerating. you've been warning about this. you got this right. >> i've been doing this for years, this is one of the worst
market setups i have seen. the nails are put in the coffin as far as the fed having to tighten faster than anticipated during the slowdown. you know i have been bullish for years. it is rare i put the warning signs out as we started in november. today's data confirms the market will be correct in the second quarter. economists predicting 4%, 5% gdp, we don't see that. now that the fed is in a bad spot they fight much faster. 2 and 10 on the bond market, the yield is compressed 60 basis points and they think they will raise rates five or six crimes -- it is a dangerous place to be in terms of high beta access because they will invert the yield curve if they follow through on what the
market is pricing in a they don't want that to happen. stuart: your scenario is selling to any rally and take the money off the table. i don't know where you want to put it but taken off the table because in the second quarter of the year, we head sell for the overall market. that is what you are predicting? >> you don't have to sell anything. it is enough to not hedge against the backdrop. in the second quarter, gdp is 3%. a huge drop from the perspective and high risk assets, buying gold and opportunities. we bought bonds in the tenure jump, the safe havens are the best place for risk adjusted
returns in the next 6 to 8 months. stuart: should i sell microsoft now? if you get this right your back on the show permanently. what have you got? >> you made a funny in microsoft. take some off the table and relax and enjoy the run-up and the markdown to buy microsoft back at 15%. stuart: not bad and that is on videotape. we appreciate that. dozens of security agencies working to keep los angeles safer sunday at super bowl, jonathan hunt is at the stadium. i believe you joined the security team for a ride along? >> spectacular ride with an air
and marine operations crew. one of the wings of customs and border protection conducting surveillance operations over a 500 square mile area. federal state and local agencies coming together to secure this huge area. the greatest threat, potential terrorists attack. >> the fourth largest state in the country, anyone from political religious reasons want to do the various acts looking for this and that makes me nervous. >> reporter: there's a huge responsibility on the shoulders of the police department. i talk to the police chief what
keeps him awake at night. what is your worst nightmare? >> somebody would come here, traveled across this region to use this location as a soft target to express discord or a terrorist act. that is my worst nightmare. >> reporter: given la's recent surge in violent crime. we also talked how out of town visitors might cope with the security situation. the chief's answer was interesting. >> we don't have that. let me tell you what the chief said. what would he say to the average person from cincinnati? he said in fact i believe safer in la than cincinnati, the
lombardi trophy will be staying in la. stuart: whatever you say. thank you. see you again soon. let's bring in alex the way the --villenueva. what will fancy? we see stories of homeless camps, what will it look like? >> a lot of it is cleaned up around the stadium another tourist destinations. for the super bowl experience fans will be surprised, the venue is an incredible place. the weather is perfect. it will be a good experience. stuart: you have been making a lot of news and headlines, 4000 employees could lose their jobs
because they've not gotten the jab. can you give us an update on the status of these workers? >> they are removing from me the authority to hire and fire my own employees which will be a long legal battle the will surpass the pandemic itself. it is an exercise in futility to breasts the concept of enforcing a vaccine mandate. imagine trying to recruit in this labor market when all my competition doesn't have the mandate. the board cares about ideology. stuart: how popular is your stand? >> we've been deluged with letters of support across social media. i appreciate heartfelt support
and it boils down to simple numbers. thousands of employees are vaccinated and positivity is 3.4. there positivity is 3.8 so for the sake of 0.4% the board is willing to ditch it for la county. that's how genius these people are. stuart: suppose they get through 4000 firings, could you run your department? >> know. that would be all our patrol personal, the equivalent of all our jail personnel, roughly a third of our personnel in that number. stuart: we hear stories out of los angeles, whether it is schools or shoplifting or smash and grab, isn't there a
feeling, a mood change in the city among voters that this is ridiculous, too much, time for a change? is in their feeling like that? >> there definitely is. people are fed up with politicians carrying out their war against law enforcement. i have two local police department in crisis mode because of vaccine mandate. one had to rescind the mandate to bring 30 fired officers back. another one reaching out because they lost half of their workforce through vaccine mandates and want to hire us on an overtime basis which is impossible because we are in the same boat without the mandate. that shows you the public realizing politicians making this a crisis. stuart: times have g to change. i'm looking at the market
performance and uber, are they suspended or halted in some way? >> investors are at 4169, halted for 20 minutes. could be opposition? executives speaking about expansion plans, they gave good earnings. stuart: it was halted at 3.77%, significant gain. find out what the executives are saying. defund the police, some think it's time to dump that message. republicans facing a fractured party, donald trump and mitch mcconnell at odds over the january 6th ryan. senator rick scott on that
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stuart: markets all over the place in the red. show me uber. it was halted for trading moment ago. it was up 3.7 percentage executives were addressing the future. lauren: understand the has a 5.2% stake. let me go through positive. there are acquisition rumors. free cash flow positive by the end of the year, electric vehicles up 160%. delivery three times bigger than pre-pandemic and 1 million truck driver signed. stock was up ahead of investor day. we have to find out why it was halted. stuart: positive stuff coming
out. let's get back to democrats being divided over defund the police. it is a huge divided on this. how big a role at play in the midterms? >> the funding the police is radioactive for democrats and reveals the divide in the party. cori bush will not relent on defund the police, should have addressed the issue years ago, give democrats headaches as crime spikes. >> portland, toledo, rochester, tucson, columbus, austin and philadelphia. what do they have in common? they are run by democrats. >> reporter: defunding the police, what dick durbin says, those who push defund the
police are out of touch with reality. democrats know they have a problem with the issue among voters. >> if you take a survey, most are not saying defund the police. hope you don't make a bigger issue than it is. >> reporter: democrats ahead of the midterm elections. >> more citizens, don't feel they are safe and i can tell you that is something democrats need to be very concerned about. >> reporter: democrats tried to move beyond defund the police and blm protests in summer of 2020 but defund the police remains a liability for the party. stuart: another split. donald trump responding to mitch mcconnell spoke about the january 6th rights.
donald trump says he does not speak for the republican party and doesn't reflect the views of its voters. senator rick scott, this party is split. do you want to see republicans rehashed of 2020 election or january 6th? >> we will have a great november. we will take back the house and take the senate. it will be about the issues, it will be about defund the police, high crime rates, critical race theory, unbelievable inflation, those are the issues people care about. i'm the chair of the national republican committee. i want everybody to help us so i make sure republicans are unified. we want this split is not helping.
can you win win win when you have a former president at odds with the minority leader of the senate? >> my experience talking to people is they are talking about inflation, gas prices, how much their house has gone up trying to buy a used car, making sure children get an education not wearing masks. most people are not talking about party issues that go on year after year. stuart: i'm not sure the democrat media will that you off the hook so easily. the international olympic committee says the chinese tennis star made several appearances at the olympic games, she had alleged abuse by the communist party. what's going on? >> they've given two olympics.
the ioc won't callout the genocide that is going on, won't attack them over taking away basic rights of hong kong citizens or individuals that were arrested. the ioc is part of the communist party. i have a bill that says they won't get anymore tax deductions or subsidize what they are doing. they won't callout communist china. i'm sick and tired of them. stuart: we understand that. republican rick scott from florida. the cdc is considering new recommendations to add time between doses of the covid vaccine. after marty macarrie joined us next. ♪♪
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first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. stuart: stock is halted on the upside at 3.7 percentage executives speaking out about the future of the company. morgan stanley has a 5% stake and it just reopened and it is not positive.
now it is negative. morgan stanley has a 5% stake, cash flow positive by the end of this year, delivery up three times. apparently the stock is now down over one%. the cdc may recommend spacing out the first two doses of the covid vaccine. i would think this makes people more nervous and anxious to get -- about getting the second shot because what is wrong and why do we want to spread it out? >> it turns out the longer you space out the interview between vaccine doses with any vaccine the better the immune protection, this is clear in the spring of 2021, many calling for spreading out in
the uk recommended people wait 3 months for the second dose. if we had done that we would not have had a conversation about boosters because the protection was three times higher in people over age 80 than in people younger. stuart: i interviewed doctor jerome adams, if you saw the interview, i gave the doctor a hard time. i was saying this is the worst example of public health policy in recent american history and it has been like that since day one of the pandemic. am i going too far? >> our health agencies did not recognize distribution, there's failure to evaluate the lockdown. there is little interest in assessing the largest public health intervention in history,
closure of schools, failure to recognize cloth masks are porous. this 20 items where i had strong disagreements with the public health leadership. otherwise they've done a good job. stuart: you have been ostracized by the conventional medical establishment. >> it is well-known not just in healthcare but somebody says they are not really an expert. i went to the harvard school of public health to take care of patients with immunosuppression and public health for 16 years. there is this idea that if you don't like our edicts from public health you are fringe or out there, just have a different opinion. that's what i told doctor fauci. stuart: you are not the fringe, you're on this program, see you again soon. the thursday trivia question,
how many adults in the united states wear glasses? there are 330 million americans so it is a portion of that. we will be right back. . . rt. that's adorable. with shipgo shipping your luggage before you fly you'll never have to wait around here again. like ever. that can't be comfortable though. shipgo.com the smart, fast, easy way to travel.
well-done. send us "friday feedback," firstname.lastname@example.org. send us your fan friday videos as well. i have ended up with 15 seconds to go and i don't have any filler. lauren: saw them highlight 164 million in the break. that is how i'm so accurate. stuart: you fill 10 seconds remarkly well. ashley, it is yours. ashley: i need wearing glasses. thank you, stu. i'm ashley webster in for neil cavuto on "coast to coast." inflation fastest increase since 1982. we're on the story from every angle, what it means for your wallet. governors taking foot off the pedal with covid