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tv   Varney Company  FOX Business  January 27, 2023 9:00am-10:00am EST

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at very time when we cannot be more vulnerable we need to really look how to be secure as role of leader until the world getting this debt under control national security issue as well. maria: yeah sure is all right great conversation everybody we so appreciate your time, thank you so much, dow industrials down 24, s&p down 15, nasdaq lower by 66 maya macguineas thomas finish upson ashley hins owner cheryl casone brand owner around untold my pleasure honor being with you today have a fantastic weekend i will see you tonight on maria bartiromo wall street 7 pm eastern sunday amongst fox news channel a hot show join us have a maria: i hang in my closet upside down on saturday z. [laughter] lauren: i'd love a picture of that, maria. good morning, everybody, i am lauren are simonetti. elon musk spotted on capitol
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hill yesterday, he met with speaker mccarthy and minority leader hakeem jeffries. he wants to make sure twitter is, quote, fair to both parties. meanwhile, president was busy in virginia slamming republicans while trying to tout his economic progress. biden accusing the gop of deliberately inflicting pain on american people. and then there's the congresswoman alexandria ocasio-cortez. she's making headlines again, this time because she thinks our border policies are too strict. yeah, you heard that right, too strict. we're going to talk to an official in yuma county, arizona. yuma is on the brink of collapse because of the surge of migrants. he will respond to aoc. but first, let's get to the markets. look at, doing -- dow's basically flat, it's been up for the past five days in a row. the s&p down 14, the nasdaq, the worst performer here, it is down 60 points in the premarket. intel is the problem.
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the stock diving after the chipmaker gave a pretty dire forecast for current quarter. that stock could lose 10% when the market opens in 30 minutes. and the toymaker, has -- the hasbro, they're cutting 15% of their work force. bitcoin looking at its best january since you've got to go all the way back to 2013. it ises down $19 at 22.90 now. big lineup, brian brenberg, tammy bruce, jason chaffetz and steve hill -- hilton just a few of the guests. welcome to friday, january 27th, 2023. "varney & company" about to begin. ♪ ♪ i do the my hair tall, check my nails. ♪ baby, how you doing can?
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♪ lauren: we're starting this friday morning with elon musk. surprise visit he made to capitol hill yesterday, and he tweeted about it. he met with speaker mccarthy and minority leader hakeem jeffries. they discussed ways to make twitter a fairer platform for both parties. it was a surprise meeting, and it comes just a few weeks before the house oversight committee's planned hearing on how twitter handled the hunter biden laptop story. kenny polcari, good morning to you. >> how are you? lauren: do you think elon musk just dropped by capitol hill, or do you think, kenny, he officially, finally, got that invitation he's been waiting for? >> i'm kind of hoping he finally got the official invitation to come versus just knocking on the door and i saying, hey, i'm here. i think it's about time that they start paying attention to what he has to say, what his viewpoints are, what he can add to the conversation and what needs to be fixed not only on capitol hill, but maybe at twitter, maybe in the ev space. there's a lot that he can talk
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about. lauren: i'd say, kenny, he's flying high right now. tesla's stock is up 30% this month, year, right? >> yep. lauren: things have been good for elon musk lately. how about the overall market, kenny? we go broad picture. >> well, as you can see, it's struggling, right? right now we're kind of down, the futures are pointing to a lower open, not a disaster, but a lower open. intel's going to take a chunk of money out of intel, but for the most part, you've seen the expectations for earnings are coming in right in line, maybe a little bit softer than what the estimates were. but it's not completely out of control. the companies that are missing are getting punished, and they should get punished. the companies that preannounced kind of beat their numbers and have positive guidance are doing well. look, you look right across the spectrum, the sector ors that were -- sectors that were getting hammered in 2022 are way
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outperforming many 2023, so there's lots of opportunity. while i think there's downside pressure to the market, i don't think the it's the -- think it's going to be this disaster that the morgan and goldman are calling for. lauren: is timing the market a better strategy than time in the market right now in. >> no, i think time in the market is the winner, right? i think the people that, the people that -- look, if you're a day trader, you're timing the market, right? you're trying to pick lows, trying to pick highs. if you're a long-term investor, time in the market versus trying to time it. it's sticking to the plan. it's dollar cost averaging. it's taking advantage, doing your homework, understanding the fundamentals in stocks you own have been changed. even if they decline in value with the broader market, if the fundamentals haven't changed, then investors should use that as an opportunity to continue to add money to those names that you own, that you like and that you own for a reason are. lauren: speaking of change, do you think the fed are change?
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they're meeting next week, and you could make argument with some of the data that we got, yesterday's gdp, today's pce inflation, annual basis coming down, lowest since october. can the fed actually pull off, the soft landing that that we all have do you wanted is possible, kenny? -- doubted is possible, kendi? >> yo -- kenny. you can't get a soft landing when it comes to the fed. look, the pce number was down, but when they took the core number, so you take out good and emergency, it's lower. but when you with add it, it's still high, and it's food and energy is what matters to the everyday american, because you're not going out and buying a house every day, a used car, a television or a computer, you have to buy food, energy, you've got to pay your lek trig -- electric bill, and those are the items that remain elevated. that's what i think everybody's missing -- [audio difficulty] a pause. i think they're going to go 25 next week, i think heir going to
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go 25 in march and again in may and then pause. that'll bring the term mall rate to 5-a 5.25%, there are some fed members that are even saying 5.5%, so i think there's still room for the fed to go. at that point i think they pause, i don't think you're going to see a pivot by the fed at all in 2023. lauren: okay, kenny, thank you. see you in a bit. now in the, 25 statements suing the biden administration. they say a recent rule allowing retirement plan managers to consider environment environmental and social issues when making investment decisions violates the law. utah attorney general sean reyes tells fox business this and i quote, the biden administration is promoting its climate change agenda by putting everyday people's retirement money at risk. americans are already suffering from current economic downturn. the administration has not issued a response to this lawsuit. and now this, president biden is attacking republicans for their
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economic agenda. watch. >> what in god's name would the americans give up the progress we've made for the chaos they're suggesting? i don't get it. that's why the maga republicans have literally chosen to inflict this kind of pain on the american public. why? why? this nation has gone through too much, we've come too far to let that happen. i will not let it happen. not on my watch. [applause] i will veto everything they send me. lauren: ah, brian brenberg is here. finish you know, he's got a new bogeyman, right? he can blame the maga republicans, but shouldn't the president be promising to work with are republicans instead of promising to veto -- >> well, that's his old bogeyman too. immediate the old boog byman, same as the old bogeyman. he's not burdened by reality, lauren, we know this. if you think about his predictions going into the election about georgia, we were going to have jim eagle 2.0 or
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something like that. well, that didn't pan out. now he's saying republicans are going to create economic chaos. how exactly? what are they goinged to do? they've been asked about social security and medicare. none of them are talking about cutting social security and medicare. that's his big bogeyman that they're going to do that. they do want to work on the deficit, and he said he's not going to negotiate on that. so if anybody's creating chaos here, i think it's the president. not republicans. lauren: it is very strange to me. next one for you, speaking of extreme, congresswoman alexandria ocasio-cortez the deflected questions about reckless spending in her own party only, this is great, this is gold, only to blame former president trump. >> congresswoman, quickly on the debt limit, democrats have been in charge for the past two years. do you think democrats have spent too much money? >> i think the largest contributor to the debt ceiling or deficit has been the trump tax cuts, but i've got to go,
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sorry. >> i gotta go. lauren: that is completely laughable. she should have just said, no, we want to continue to spend, spend, spend trillions of dollars. >> she's critique thed the biden administration when they've said they've cared about deficits. she doesn't care. the trump tax cuts were supposed to add about a trillion -- or take away a trillion dollars in tax revenue. congressional budget office ran the analysis before those tax cuts, after. actually, tax revenue is going up after those tax cuts. but we know biden has added almost $5 trillion of new debt to our debt load over the next 10 years. just do the numbers there. you can see very quickly, huh-uh, it's spending that's the problem, not tax cuts. that's why she doesn't want to talk about the it. lauren: and they don't want to be accountable for any of of that, just continue to swipe the taxpayer credit card -- >> she loves the monetary theory. her economic view is deficits don't matter.
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that's why we got into the inflation problem. she doesn't care about deficits. she wants the spig if gots open, and she wants to get past all of this, and that that's why we've ended up with the last two years of economic reality we've had, because she doesn't care, and she is the proponent of a theory that not work fiscally. lauren: she's young, you teach young students, late teens, early 20 the-somethings. do they understand that you can't just ring up debt, and you have to be accountable and responsible for it at some point? >> my students, by far, yes. because hay live in reality. they have their own personal budget. they know the how this works on a personal level. it's only when you get to d.c. that you start to think that those rules don't apply. that's her problem. she got to d.c. way before she had enough life experience to temper what she thinks. and and that's why she can have these views. you've got to live a little bit, you've got to do a few things. lauren: well, that's a whole
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different topic. >> it is a whole different can topic, but i stand by be it no matter who you talk to. louvre lauren brian, see you in a bit. nasdaq seeing the worse of the selling, down 1 is.5%. metaa will reinstate former president donald trump'sbook and instagram, but a new york times editor is warning of the implications of that. >> you don't want to hand over the keys to democracy to have someone destroy that democracy. so do you want to be that institution that that really helps take down the country? lauren: take down the country. tammy bruce, she's going to weigh in on that one. and america's $27 billion gift to ukraine included 80,000 weapons and 113 million rounds of ammo. is it enough to help ukraine finally push russia out? green beret colonel mike waltz will take that on after this.
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♪ ♪ lauren: russia has haunched a barrage of drone and missile strikes across ukraine after the united states and germany agreed to send a tanks to ukraine. trey yingst is in kyiv. trey the, what is the latest on the reaction that you're receiving? >> reporter: lauren, good morning. as ukraine awaits the delivery of western tanks, it's bracing for more russian attacks on civilian areas like the country saw yesterday. residents in odesa line up to repill their water bottles.
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the southern ukrainian city is facing a temporary water outage and blackout after russian strikes. [speaking in native tongue] >> translator: we are scared. we are scared a lot because we don't want to fall under shelling again here. tatiana, a mother of five says. we hope that our boys will protect us from all of it. they will shoot down the missiles. ukrainian army officials say they shot down 47 of the 70 russian missiles fired yesterday, but ones that slipped past air defense systems caused significant damage and claimed the lives of at least 11 people. overright ukrainian president volodymyr zelenskyy stressing the importance of getting those western tanks onto battlefield as this conflict continues. every russian missile against our cities, every iranian drone are arguments for why more weapons are need. only weapons neutralize terrorists. >> reporter: four weeks from if today ukraine will mark one year since this war began. the events of the past week in
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terms of western support are largely seen as a turning point in this conflict. lauren? lauren: trey, thank you very much. and so far the u.s. has sent more than $27 billion in military aid to ukraine. congressman mike waltz, republican from florida and a green beret, joins us now. congressman, good to see you. >> yeah, good to see you. lauren: we sent 80,000 weapons, millions of rounds of ammo, now the tanks, the m1 abram tank is expected to get there the later this spring. is that enough to push russia out? is that enough of to help ukraine win? >> well, i think it's certainly going to be the enough to help ukraine go on offense and continue to take their territory back. remember, these tanks that we're providing will be coupled with dozens of tanks from various european countries. those tanks will be able to be used immediately. they're much easier to fuel and to provide parts to.
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ours are more difficult. i thinkst going to take more time. but my question of the pentagon yesterday is, who's going to pay for the sustainment, the maintenance, fueling, all of those pieces in the long run? what does victory look like from our standpoint? what are our criteria for when ukraine achieves x that we then feel like we should encourage them to get to the negotiating table? and finally, still a lot of questions on the oversight of the aid. i believe that's getting better, but also on the burden-sharing. europe has got to step the up. i still believe this is the right hinge to do because it's the pay now or later if putin is successful. but all of those other pieces, we need to -- the congress continues to demand answers. lauren: yeah. we've been asking these questions for almost a year now that this war has been going on, what does a win look like. we move on though, congressman. i wanted to ask you about this,
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your democratic colleague, ilhan omar, she's calling out speaker kevin mccarthy the for removing her prosecute foreign affairs committee. she calls the move racist, xenophobic and discriminatory. well, you're a member of the foreign affairs committee. is congresswoman omar ignoring the legitimate reasons that she was actually removed from this committee? that's my first question. and my second, will there be enough republican support to keep her on the committee? >> well, look, i'll remind everyone when she made her anti-semitic the remarks, you know, all about the benjamins and comparing the u.s. and israel to the taliban and hamas. she was dethe announced by members of her own party and then, you know, debbie wasserman schultz of florida, jerry nadler of judiciary and new jersey, look, said that they were being xenophobic and that these were
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islam possiblyic tropes. so at the end of the day, israel is our greatest ally in the middle east, it's a democracy. they share our values, and those of us who support those values, i think, deserve to be the on the foreign affairs committee, and anti-semitism has no place on it. lauren: adam schiff took to tiktok to complain about being removed from the house intelligence committee. watch here. >> hello, i'm congressman adam schiff with some troubling news. today kevin mccarthy removed me from the house intelligence committee all for doing my job, for holding trump accountable and standing up to the extreme maga republicans. this is not the end of my fight for our democracy, this is just the beginning. lauren: was tiktok the right platte form for that, congressman? [laughter] >> i mean, honestly, you can't make stuff up. here you have a former chairman of house intelligence committee with the most classified and
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most sensitive the documents and briefings that we will get as members of congress, and you're on a chinese spyware app that is taking his passwords, his biometrics, his location data, the his financial data. i mean, honestly, it's just, it's just ridiculous. but the intelligence community is special because journalists can't back up what we're saying, the american people don't have transparency on what we're putting out there, and schiff repeatedly lied in that post -- lauren: and leaked. >> and at the edge of the day, that is the speaker's choice, not the conference or anyone else. it's completely within speaker mcthink's purview to -- mccarthy's purview to say 200 other democrats can do this job just as well. lauren: congressman, thank you for the time. >> thank you. lauren: all right. the opening bell is about to ring 7 minutes from now, and dow just turned higher, maybe we'll have a sixth day of gains. the nasdaq is struggling on the
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lauren: check futures, dow's up 1 point. hey, maybe it's going to be a mellow friday. it's been a solid week for the stock market, and we're take it. mark mahaney joins us now p. i want to talk to you about alphabet, completely unchanged. look, the justice department is suing them. they say google is monopolizing the digital ad space. you hear justice department, and you think the, okay, maybe something's actually going to come out of this. what do you think? >> it's possible. this is the second, lauren, this is the second doj lawsuit against google in the last three years. first it was the against the core search business, now it's against what's called their ad network business which is about 10% of their revenue, about 5% of hair profits. of it's possible something happens that cops out of this. i think it's an overhang on the stock. i think the sort of aggressive remedies, perhaps, that the koj is asking for which is kind of the forced spin-off of that ad network business, the rolling
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back of the reversal of the acquisition they made of double click about 13 years ago, it's kind of, those are long-shot odds, but it's possible. if you look at all the tech companies, of course google's going to be the company most in regulators' sights along with apple and microsoft. i think that regulatory risk has been on google's stock for the last 5-10 years. it doesn't make it uninvestable, but it does make it a little harder for upside, no question about that in the shares. lauren: well, you know, the stock's only down, only, about 24% in the past 52 weeks. st down well so far year. what price do you like it at? >> this price here is interesting. i mean, we're not too far away from chopped multiples. there's just other names that i prefer. i prefer netflix and meta, in part because neither of those companies face kind of regulatory overhang risk. meant that the's got other risk, but antitrust is the big gun
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regulatory risk. again, there's a small number of companies that a really would face that where you could debate how strong her and whether they've done actions that have hurt consumers and stymied innovation in the i have. google, there's some plausible arguments, but it's the not facebook or meta, so that's why i prefer metain this environment. lauren lauren okay. mark mahaney likes meta over alphabet. it's going to be the a big week -- >> yes, huge. lauren: -- apple, amazon and isn't alphabet all reporting on thursday? >> and that's what's going to determine the market for the next 2-3 months. lauren: mark, thank you. >> thank you, lauren. lauren: the final day of the week, and the market is open. for three seconds now. let's take a look at the big board. is there green, is there red? a little bit of each. yeah, basically 50-50 right now. you have american express on earnings, spending remained strong. that's leading the dow 30 right
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now. intel, i mean, the comments out of intel were terrible. we're going to get to that, the stock is giving back $3 today. here's the broader market, the s&p, 4,050 is the level, down a quarter of 1%, and the nasdaq -- did you know that the nasdaq yesterday closed at its highest since september? it's down a bit today. we'll talk about the it in just a bit. let's show you big tech. you can see what is hurting the market,anything, you have meta up 1.3%. amazon at $100 a share. al a pa bet at just about 98 and microsoft at 248 if stuart varney is listening anywhere right now. actually, we know exactly where he is. [laughter] we've got to the talk about intel. the the warning was pretty dire. rosenblatt securities, historic collapse. being called much worse than we feared. i mean, can it get any worse for intel? they slowed hair pace of hiring -- their pace of hiring. the sock is down just about 40% so far in this very young year.
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last year wasn't good. charles, what's going on with spell? >> i think intel's had problems for a long time. i think it was the always ooh wedded to the pc market. remember, when the shutdown happened, everyone ran out and bought computers, pcs and things like that. so for a moment it looked like, oh, okay, maybe intel's back. i think this is a long problem, it's been around for a long time, and, you know, it's one of these things where they need to figure this out, but i'm not sure current management is up to the task. lauren: well, that's what i was going to say, because it seems like the ceo, pat gelsinger, has been trying to figure this out -- >> main street ain't buying it. [laughter] lauren: we're not buying pcs. >> i pulled up a 10-year chart, under this 25 it really starts to get dicey. it's a tough one. again, it had a nice reprieve during the pandemic. again, everyone went out, they bought pcs, everyone was working from home. but all of that sort of buying is fading right now, and, you
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know, the it's all about cloud. by way, hardware's always different than software anyway, and the sad thing about this is that there are components of the semi industry looking really, really intriguing the last few sessions. lauren: all right. we digress and talk toys. hasbro is cutting, usually it's a tech company, a media company, a bank. now it's a toy company cutting around 1,000 jobs, about 15% of their work force. so it's significant when you talk in percentage terms. they also warned that their upcoming quarterly results are going to be the weak. what do you make of -- you know, the president touts the economy, and you have another solid company cutting jobs. >> yeah. i got a great chart, i wish i'd brought it with me, i'm going to show it later on my show today to the. for the last several years, marley more recently on the conference calls, it's been about labor shortage. in the last couple of quarters now, you hear more about job cuts than labor shortage.
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there's a major sea change happening right now. we have the economists saying the labor market is super duper tight, and, you know, listen, initial jobless claims you should 200,000. -- can under 200,000 -- lauren: which one is it? >> well, you've got to believe these corporations announcing layoffs is the real story because that's going to continue. lauren: brian, do you think -- go ahead. >> that, to me, is the big story here. at first it was the technology companies. well, that's not a good indicator of where the labor market's going. but then you see 3m, and then you see dow chemical, and hen you see hasbro, and you start seeing however does this leak? -- saying however does this -- how far does this leak? it's not transitory layoffs, so much bigger than that, and that could be a problem. lauren: if you look at the data dump that we got about an hour ago, spending fell two-tenths of 1%. the savings right went up to 3.4%.
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maybe we're worried we might lose our job -- >> you bring up a -- you keep reading my mind. [laughter] lauren: look at this, charles. >> so the savings rate had plunged to 2.9%, september it's over 3, now it's rising sharply. even though income came in abov. it's still growing at a much slower rate hand it did from the peak in october. still, you know, people see it. in other words, households are sort of getting ready, you know? the same way you would prepare percent winter -- >> right. >> people see this, regular households see this, and they are starting to pull back a little bit. the only good news the about this is the federal reserve. does powell see this, the does powell appreciate this, because this is what he wanted. he wants people to sop spending so that prices go down, or at least they help prices go down. and so maybe the good -- the maybe the silver lining will be that the fed calls off its assault on the economy. lauren: you're talking to
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regular people. american express talk toss to maybe a little with bit of a higher-end customer, and the ceo of american express says they're not seeing recessionary signals. the stock is up 7.66%. >> i didn't get a chance to go into details on the numbers, but yesterday when i went through mastercard, the one hinge that stood out to me year-over-year, american consumers were using debit more than credit a year earlier, now they're using credit more than debit. so it seems to me debit, which is your money, they're starting to run low, so that's a red flag. at least a yellow flag. >> it's a great time to be in the market of lending people money they don't have. [laughter] they blew through their savings and now they're borrowing. that's the problem. it works to their benefit, but i don't know that it works to americans' benefit. >> right. maybe next time they should be specific. you mean not a recession for you or for your customers? lauren: i hear you. oil, chevron reported full-year
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record profit, $36.5 billion. it doubled, okay? is they raised their dividend, they announced that that a $75 billion buyback plan. yes, the prompter says, charles, what do you think of chevron, but i'm not sure that's the question i want to ask you. i want to -- the stock is down, a. why is the stock down? and do you think that they can yet away with this massive buyback with the administration being what it is? >> so yesterday the white house said for a company that claimed not too long ago that it was the, quote, working hard to increase oil production handing out $75 billion to executives and well hawaii shareholders is an -- wealthy shareholders is an odd way to show it. who owns big oil? 29% in pension funds, 25% is in asset management if companies like mutual funds. 19% individual investors. 18%, iras. so institutional investors own 7%, the executives, i guess they were talking about 3%.
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so is benefiting people with pensions? is this benefiting people who own mutual funds? if this is the benefiting people who want to the change their life. so the administration, i know this works maybe in certain areas, this politics of envy, but motion that the a private company that's earned its money can't use it the way they want -- and by the way, they've increased production, the bottom line this isn't about executives getting richer, it's about americans invested in an american company doing better. lauren: you want more of that, charles, you can see him at 2:00, "making money" on fox business. coming up, president trump unveils a new education proposal targeting administrative cuts. >> as the saying goes, personnel is policy. and at the end of the day, if we have pink-haired communists teaching our kids, we have a major problem. [laughter] lauren: we should have just went to break after the pink-haired communists. he wants to give power back to
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the parents. claudia tenney is demanding the white house answer questions about the migrant surge upstate. and florida congressman carlos muniz if is on the new select committee on china. so what are some of the things on his agenda? he'll tell the us right after this. ♪ ♪ i'm going down in flames ♪
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powered by innovation refunds. lauren: northrop grumman says it expects to complete the first of five b-21 raider production orders for the u.s. air force in the year, production costs came in the below estimates and call b-21s the backbone of future u.s. air power for decades to come. that stock down 1.3%. and according to the defense security cooperation agency,
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u.s. weapons sales jumped just about 50% last year. the u.s. reported $52 billion worth of arms sales in 2022. compare that to $35 billion in 2021. that's a big jump. the spike largely because of the war in ukraine and also china's aggression. not to mention russia produces a lot of weapons, so many sanctions on russia, we're taking some of their market share. now this, the new select me on china, congressman carlos jimenez joins me now. thank you for coming on. >> my pleasure. lauren: what are some of the first things on your agenda? >> well, we just had an organizational meeting with our chair, representative gallagher, and i'm very, very proud to be on this committee, and i think that we have a very aggressive agenda. we understand the threat that china poses economically to the united states, militarily to the united states and ideologically to the united states. so i believe this the may be the
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most if not one of the most committees on the 118th congres. lauren: do you back arms to ukraine -- to taiwan? >> yeah. we need to make sure that taiwan can defend itself. we need to make sure that we can, you know, stand up to the threat that the china is posing and will pose in the future. you know, china, unlike russia, you know, china actually has the economy to back up, you know, its military and actually make it a world class superpower. and so, yeah, china poses a great threat to the united states. i'm very happy, i'm very honored to be named to it. i certainly don't want my children or grandchildren to live in a world that' the nateed by the chinese -- dominated by the chai nice communist party. lauren: what about tiktok? >> tiktok should be banned -- lauren: everywhere in this country? >> yeah, i do. i i believe their algorithms are different. what a chinese child, when he looks at something on tiktok,
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they get something completely different than an american -- yeah, exactly. are they tracking us? what are they using it for, the data that they're gathering? it's all to the benefit of the chinese commune communist party, so i think we need to look at that and other platforms coming out of china. but need to decouple ourselves from china. our supply chain needs to come back to the united states or at least near shore or at least to allies, not to china and the chinese communist party. lauren: so you consider them an ad very share. >> oh, yeah. and i don't believe they're not. they are an adversary, and they have actually said so. they want to be the dominant economic power by 2049, they want to be can significant if military power by 2049, and they are actually challenging the united states around the world. it's a dangerous of values. i'd live with american values. lauren: congressman, thank you. >> you're welcome.
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lauren: the owners of louis vuitton and other luxing truely brands, they're optimistic as china fully reopens. they're already seeing some of their well hawaii shoppers come back inside their stores to buy things. others are hoping chinese tourists will come visit too now that travel restrictions have eased. but most people in china the are actually saying local. brian, why do you think that is? >> well, they have gotten used to staying local because they've had to for a couple years,. [laughter] so i guess maybe, you know, you kind of -- i don't know what it's like to live in china, but you kind of wonder if you're going to travel abroad and you're going to come back and say -- they say they're not going to make you quarantine, but hack change at drop drop can of a hat, right? would you -- how many risks would you want to take living in china, lauren? how freely would you want to move if around the world and do what you want to do living in china? the would you peel that way -- >> lauren: that i could? >> yeah. lauren: probably not. i lived in china decades ago at
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a university. i was, like, 18. i thought they were a communist nation, and the chinese students at that university were convincing me that they weren't and i was just scared. it was, like, okay, gotta get out of here. that's how i felt. >> i think the joke's on them. i get worried about china, you know, you think about china reopening, and if they get thirsty for oil and they haven't been because they've been closed, prices move way up. you think about what china's going to export this year, could be a ton of inflation on the energy side. lauren: right. >> i don't care where they're buying luxury goods, i'm concerned we put ourselves in a spot that if china gets really reopened and goes to town, we could see energy prices go up. lauren: well said. >> that's, like, the best hinge we catch. lauren: true. kevin o'leary defended his ties to ftx, but he says more unregulated crypto exchanges will continue to fall. will we see crypto regulation, and if so, what does it look
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like? mr. wonderful himself is here. higher food costs are putting a strip on families -- strain on families. ashley webster is talking to florida diners. we'll find out how they have adjusted their budgetses, and he'll let us know if he's spotted stuart varney. ♪ if is there anyone out there, 'cuz it's getting harder and harder to breathe ♪ that go better...together. hey! like your workplace benefits... and retirement savings. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. for a brighter financial future. thanks. ahh pretzel and mustard... another great combo. (voya mnemonic.) voya. well planned. well invested. well protected.
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bring down the portion sizes so, ultimately, consumers have to pay more. that's just the reality of what it is today the. i'm going to slide into this booth here, and i've got a couple of friends i've made morning. hi, guys. vicki and jason, thank you for chatting with us. from a personal point of view, higher prices are starting to bite the bottom line, right? >> yes, very much so. seeing it every single day more and more. >> reporter: and same to you, jason. >> well, i have four adult children raising pour grandchildren of mine, and so i see it more so in their lives and how it impacts the price of their rent and cost of groceries. >> reporter: even from a personal point of view, you're both business owners. jason, you run a construction company, how are the high prices affecting your business? >> we see it directly in the materials, and everybody everybody's seen the cost of lumber. but we have to have a materials escalation clause now just to protect ourselves from the danger. but beyond the earlies, it's the
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direct im-- the materials, it's the direct impact of the labor. i have to raise my labor rates to keep competitive in the work environment. >> reporter: same to you, tough times? >> yeah, i have six trucks on the road. my gas prices are up, that in turn my labor prices are higher, my material prices are higher. competition is high. so it all has a domino effect. >> reporter: thank you for taking time to chat with us today. lauren, i'm exhausted. i'm going to have my omelet, cup cough of fee and throw it back to you. >> tell jason, he does not look like a grandfather. he looks amazing. >> reporter: they say you don't look like a grandfather, you look amazing. you just made his day, lauren. lauren: have a good weekend, ashley. see you later on the network. brian, i know on your show yesterday you were talking about something that actually fired me up. >> oh? lauren: well, it's true. parents can say it's about $50 if they go shopping by themselves. >> without their kids. [laughter]
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yeah. bringing your kids to the store is a terrible idea, and if you have multiple, they gang up on you. one gets in i want some candy, one wants a toy the, and pretty soon you're like i can't survive in the trip trip unless i bribe hem with something, and that makes the behavior in reverse. lauren: why does every grocery store the have a toil toy aisle? >> they're counting on our kids' bad behavior and our weakness. it's an unholy alliance. lauren: they say at age 9 you can use that shopping experience to teach your child about money and managing money and budgeting? do you do that? >> yeah. i teach them about inflation, and they say i want to get paid more for my allowance. lauren: what's coming up at one? >> we've got mike rowe talking jobs and how to make money in america. we're going to talk about the markets, we hit system of those stories. i love my cohosts, great conversation. it's going to be a great conversation on friday. lauren: brian, thank you.
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