tv Cavuto Coast to Coast FOX Business February 2, 2023 12:00pm-1:00pm EST
"the big money show" 1:00 p.m. eastern on the fox business network. >> will you please? stuart: i will boost your ratings. don't forget the "friday feedback." send in the "fan friday" videos. record a video, telling us who you are, where you're from, you have to tell us you're watching "varney & company." i really got to do one last check of the market. this has been quite a day. meta, that's the former facebook, is up about 22, 23%. the nasdaq composite is up 330 points. that is 2.8%. that is is it for "varney & company." it has been a great show. i promise you, "coast to coast" starts now. neil: story of the day is nasdaq, technology stocks in general. continuing now at this rate, the nasdaq is less than a percentage appointment away from finally clearing bear market territory. what's going on here? is this all meta?
is it optimism ahead of amazon and google's earnings and others coming out including apple later on today? let's get the read how significant this is with susan li. hey, susan? >> reporter: looking at a 90 billion-dollar day for meta. that is the best day for the stock in almost a decade for mark zuckerberg's company. wall street is loving the fact they're reining in costs, of course that 40 billion-dollar stock buyback. at least 24 brokerages on wall street raised their price targets. three full upgrades from bank of america, piper, rosenblatt. they say the stock is $260. meta says you heard on the earnings call. a year of efficiency, with zuck himself not ruling out more layoffs this year cutting 11,000 last year. meta crossing impressive milestone, two billion daily active users first time. they added new users in canada, u.s., which is impressive, given
how saturated the market is. guiding for sales to increase this quarter. maybe they're over apple ios privacy changes. they're losing a ton of money on virtual reality, spending $14 billion. they say they're not changing course. that does bode well, at least met at that's results bodes well for four trillion dollar in market cap for tech results including biggest of them all, apple. we're expecting the first sales decline in four years with the china lockdowns, hurting production. apple prewarning but does that pull demand into this quarter instead? supply is the issue, demand is there. can they make enough of high-end iphones to get them in the hands? remember apple is the only silicon valley tech giant that has not layed off workers. they added head count at a much slower rate. i will speak to management. bring the results to you tomorrow. amazon, slowest revenue growth in decades. costs will be key. they cut 18,000 jobs.
alphabet, google, old days, will likely say ad revenues slowed just like meta. neil, will google cloud grow enough to make up for the slowdown in apple advertising revenue? i will speak to ruth borat on the results. neil: staggering at statistics. if you look amazon, google, amazon, $4 trillion. >> reporter: there you go right there. how much is that of the s&p? that is five, 6%. neil: people saying ravaging we had last year is over. the way these stocks perform, it might be too soon to say that. nasdaq on the verge of coming out of bear market territory. maybe half a percent, or two. thank you very, very much for that, susan li. the significance of this, whether we're guesting ahead of our proverbial skis here. like lloyd, ray wang
constellation research ceo. ray, you and i were talking about tech stocks, the idea they certainly got pounded last year. they were due for a comeback this year. is this it? is this that comeback? >> interest rate was the last piece of the leg. if the slowing continues in the the fed meeting that brings tech stocks back. meta, 40 million-dollar buyback. that is the kicker. susan talking about four trillion with alphabet, amazon and apple. that will being driving the sentiment going forward. we've seen the cutbacks. we've seen valuations reset. we've seen earnings actually hold. that is what investors have been looking at. neil: i don't know how history gauges this, luke. it form normally whatever leader in bull market doesn't automatically become the leader in the next one. technology stocks played that
role last go around. encouraging the performances this year doesn't necessarily mean they're the golden group this year but could be. your thoughts? >> i don't have a crystal ball so i'm not going to try to guess the exact sector, who it will be that will lead but you will tell you i don't think it will be technology in the big tech names. i'm really sure about that. at the end of the day i think meta is an outlyer. many big tech names when it comes to the report yesterday m meta was down over 60% last year they hated metaverse. now they're talking about efficiency, profitability side of the business. that propped meta up, that is what investors wanted. when it comes to apple, google, amazon, later today, they have a lot higher expectations. call me crazy we're still very cautious on megatech names all through 2023. we could even retest some of the lows. amazon will run into the same issues microsoft had with the
cloud business. google will have to be optimistic on ad. i don't know who will buy iphone. google ask up over 20%, apple is up around 15%. i would not be chasing here. neil: interesting. ray, timing is everything. samsung made a shrew of new product announcements including a new galaxy phone. if you get the top model, it is $1200. to luke's point how demand for this sort of stuff started you know, you know losing momentum, significant momentum in the fourth quarter of last year. right around the holidays people were reluctant to fork over that kind of dough pretty much anything let alone high-tech products. leaving aside timing of samsung's announcement, even though this phone, offerings got rave technology reviews. i'm wondering if that is the real headwind for these guys,
prices? >> not necessarily. the two big headwinds i'm worried about regulatory breakup, pressures coming from the u.s. government and the eu and that is probably the biggest headwinds not just on data privacy but how they actually operate in terms of rules of engagement and cross-sell across different industries. the other industry i'm worried about slight impact if we actually have interest rate increase. if there is interest rate increase in the fed, i think all bets are off. this is a bear market rally. however i disagree with luke just a little bit. what's happening in the tech sector, companies have massive install bases. even if apple doesn't sell another phone in six months they have so much money coming from service side of the revenue stream. that services part bolstered the hardware side. not just a hardware play. when you look at alphabet, apple, amazon, they have significant cloud businesses. that is an enterprise reoccurring revenue stream hard to beat. they're durable businesses. are they going to be the tech
leaders? tech the sector wins in 2023. maybe not. i think big oil got them beat a little bit. neil: if interest rates though luke, quickly stay where they're at, where they are, market rates, 10-year tumbled to 3.35%, 3.36 as i speak, that is a constructive development for tech stocks is it not? >> it is but it actually makes the job for the fed harder. what is actually allows them to be more hawkish down the road which does not benefit tech stocks down the road. powell added more fuel to the optimists in the room yesterday opening a door to the more dovish stance possibly down the road. one of the biggest issues the more optimistic the markets get, the harder for the federal reserve to do their job. financial conditions within the markets are not reacting the way the get wands them to. you mentioned 10-year. 10-year treasury note trading 3.3% yield, fed funds rate above 5%, that tells me the market
does not believe the fed will remain at 5% for very long. in return, those lower rates, looser financial conditions just gives more leeway for the fed to get more aggressive because they did lose a lot of credibility. they will try to get that credibility back. so, yeah, temporarily, it is giving a boost to tech stocks but gives a lot more leeway down the road. neil: two very different views down the road where we're going. i appreciate it, you argue them eloquently. we'll see who is right. taking a look how you're feeling about how things are going for the show, for some of the guests you see on this show we always ask you to tweet @teamcavuto. email us at email@example.com. a lot responded to franklin graham we're on the way to socialism. he doesn't like where that road is going or the trend being set. we get this tweet on that subject. most americans wouldn't know what socialism even if it deposited a social security
check in the fdi-c insured bank accounts. another issue got unusual response, retirement of tom brady. this time says he really, really means it. j.j. writes had to laugh about your comment on tom brady's retirement, he is only 45, still quarterback for years if he wanted to. this coming from someone sat behind a desk behind the whole career. hasn't had his body gotten beat up or tackled. i can tell you i had my body beaten up by other things. you don't seem interested, but you're a very nasty person. i will keep track of every tweet that you share, because you share a lot of them. which means as always, you watch a great deal, don't you? anyway, we have this on my twisted sense of humor. charles writes, you have a very unassuming but sharp sense of humor. makes me laugh out loud. anyone ever tell you that? allow me to be the first. i hear it all the time like i'm
gifted or something. thank you. try not to take anything seriously. life throws stuff at you, screaming, tweet nasty words, assume maybe the camera adds four or five pounds to me, it is just, it's nuts, so i try to see the lighter side of things and hopefully you will enjoy that kind of view on life. many of you though that is not the case. in the meantime speaking of things that maybe owing to how we view the world apparently 81% see the u.s. as a dysfunctional family. this is a fox follow that is out. we're a big dysfunctional family. well that could explain my tweets and emails. ♪.
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>> kevin upstairs. >> do we set timers on the lights? >> what else can we be forgetting. >> kevin! >> ah! neil: might be funny, but it's a little dysfunctional, to hear a lot of americans said eight out of 10 in the latest fox follow. that how they see our country, that we're a big ol' dysfunctional family. we're not a hit movie at that. what to do. edward lawrence at the white house, how do digest all of that. edward. >> reporter: like some families out there the dysfunction spreads to spending on all of this. so you know the cousin, constantly in debt asking you for money, kind of similar to that. we could reach the debt ceiling in the u.s. somewhere around the summer months is what the treasury secretary is saying. out of that first face-to-face meeting between president joe biden and house speaker kevin mccarthy there was no deal about this.
both sides saying it was a good conversation. this morning president biden adding it is the start of a pivot in rhetoric regarding republicans. listen. president biden: start treating each other with respect that is what kevin and i are going to do. not a joke. we had a good meeting yesterday. we have to do it across the board. doesn't mean we will agree and fight like hell but let's treat each other with respect. >> reporter: senators joe manchin and mike braun talking with fox news making the point 31 1/2 trillion dollars in debt is just too much. >> i'm on the budget committee which we don't use anymore. don't use regular order that is the way it used to work, joe. used to flesh it out in committees, not get up to these thresholds where they use deadlines to force whatever the political agenda is. it has been on both sides. >> reporter: so voters are caught in the middle trying to pay for the massive amount of
spending over the last two years. republicans asking for guardrails on future spending. "fox news" polling shows this, 73% of registered voters dissatisfied with how things are going right now. you have 74% see a recession this year. just run down the list of concerns here at the top. 86% of registered voters are somewhat or very concerned about inflation. these polls do not bode well for a president who is planning on announcing his intention to run for a second term. neil. neil: edward lawrence thank you very much, my friend. edward watching all the developments. mick mulvaney acting former white house chief of staff, looking at all of, former omb director. he knows where all the numerical numbers are buried. mick always good to have you. you saw a couple battles serving in the administration going back to your days in congress. it always ends the same way a lot ever bravado push to the end
we avoid it. do you think we'll do the same? >> sure. by the way, thanks for having me as always. it will not be june. i know that is what janet yellen said. it will be late july. why is that? because that's when conference ends summer term and wants to go own vacation. they laid a marker down in june. keep in mind all the difficult decisions always get made up against the vacation deadline, last week, july, first week in august, that is my guess exactly the same thing. janet yellen said it was june turn up the rhetoric in june saying it is really, really bad. that is just politics. i think it will get worked out. i always thought it will get worked out. there will be some compromise. i was glad biden used the language. that lays the foundation for a small compromise. it cannot be a big thing, neil. we can't fix this right now. the republicans only control one of three levers of power. democrats control the senate and white mouse. if we fixed this when mitch mcconnell was majority leader and donald trump was in
the white house we didn't do it. i don't know why we think we fix it now when we didn't fix it then. the debt ceiling will be likely raised or suspended, delayed for a period of time, not a specific amount of money. life will go on. i'm glad we're having the debate. i'm glad folks talking about spending again. neil: you mentioned fiscal conservatives, a lot have said if we don't do something and change our ways these 80 some odd times we've done this since the jfk administration, they're getting closer and closer, given numbers, magnitude, all of that, in between each event, that we've got to change the way we go about this, whether you tie spending to the debt ceiling and raising the debt limit, i don't know but, we keep repeating the same, same drama. what do you think? >> sooner or later it will get fixed. the difference is, are we fixing it under our own terms. will we fix it under terms out of our control. what do i mind about that? if we keep going the way we're
going. either people will stop lending us month any, interest rates will go through the roof, or combined we end up printing money which is what we're doing any way. that will create inflation. you can't have it the way we had last 40 years. the debt has been going up percentage of gdp since ronald reagan was president. not one party did it. it takes both parties holding hands to get 31 trillion-dollar in debt. we've done it relatively cost free. those days will come to an end. the question whether we do it while we're control and have inflation interest rate spikes to deal with? i hope they finks it now. i hope they move a little bit in the right direction now. i get feeling some sort of guardrail, some sort of formula, something comes out of the discussions that will at least move the needle in the right direction. neil: i hope you're right, my friend. thank you, mick mulvaney, former acting white house chief of staff, former omb director as well. take you to washington, d.c., a
separate drama, taking ilhan omar offer of a key committee. she is not happy about it. the latest from chad pergram how that is going. >> reporter: there is rumble on the floor. members vote on kicking ilhan omar off the foreign affairs committee. gop says omar is not fit for the panel. >> omar said very beginning all about the benjamins. that was referring to my tweet. when she referred to american military equal to hamas and taliban. when she referred to 9/11, something happened that day, those were all moments that when she was a member of congress. >> reporter: house minority leader hakeem jeffries said omar saw error of her ways but made amends. jeffries wants to know why gop is not targeting members of their own. >> it has been accountability. ilhan omar has apologized. she has indicated that she will learn from her mistakes. it is a double, triple,
quadruple and beyond standard. >> reporter: jeffries says the resolution will complicate relations between the parties but republicans say democrats opened the door. in 2021 democrats gave the boot to marjorie taylor green and paul gosar from their committees. the gop says what is good for the goose is good for the gander. >> this is raw politics. that is what this is. when the doors opened there is a question. you have to decide what you're going to do but i have strong disagreements with representative omar. i would prefer if it were just, just starting from scratch, i would not choose this path. >> reporter: democrats contend this vote is cancel culture. nancy mace of south carolina just announced she will support the resolution so the gop should have unanimous support on their side right now. looking at the scoreboard.
the board is still open this is a party-line vote. ilhan omar spoke on her own behalf just before the vote. she said quote, the debate today who gets to be an american. neil? neil: chad pergram on capitol hill, chad, that he very of. meantime governor ron desantis taking on the woke crowd, woke curriculum. he seems to be making some traction there. i will explain after this.unti ♪. i'm bill lockwood, current caretaker and owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us. see if your business may qualify. go to getrefunds.com.
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♪. >> people want to see true academics and think want to get rid of some of the political window-dressing that seems to accompany all of this. neil: all right, governor desantis in florida is fond of saying florida is where woke comes to die. he took that one step further with the college board there, removing a controversial course and setting a new direction. phil keating has the latest now
from miami. phil? >> reporter: neil, this is just the latest salvo by republican governor ron desantis against what he calls the woke agenda, specifically citing black querr theory as indoctrination, not education in the latest ap college course. they just released the 330 page outline of the course. in the revised curriculum, material on africa, slavery, reconstruction, civil rights movement, remains essentially the same. some of the subject matter that is now gone includes critical race theory, black feminism around black lives matter movement, making those topics optional versus mandatory. >> the issue is, we have guidelines and standards in florida. we want education, not indoctrination. if you fall on the side of indoctrination we're going to decline. if it is education then we will
do. >> reporter: florida black leaders are heavily criticizing desantis, some calling him a racist. civil rights attorney ben crump is threatening to file lawsuits on behalf of three high school students. >> by rejecting the african-american history pilot program, ron desantis has clearly demonstrates that he wants to dictate whose story and does and doesn't belong. >> reporter: california's democratic gavin newsom, tweeted out this critique of the college board, saying quote, and yet david coleman, the head of the college board we can't look to statements of political leaders. i call bs. you are merely a puppet of ron desantis. students take these upper level courses to show their academic might, strength. for example, when they're applying to go to colleges. the courses being offered right now at 60 high schools nationwide. kneel? neil: thank you for that. phil keating. go to vivek ramaswamy.
you know imasset executive manager, executive chairman, best-selling author. most popular out there, nation of victims. the one that intrigued me, i give vivek credit, he wrote couple years ago, "woke, inc.," inside of america's woke justice scam. he was always ahead of this. good to see you. i'm wondering what you make of the way desantis is attacking this in a pretty surgical way in florida? >> so i give governor desantis full credit here. not only do we need to go to the step figuring out what we don't teach to kids in k-12, we need to go the extra mile what we do want to be teaching those kids. reviving civic education and civic pride. the main goal should not be to teach kids what to think but to teach them how to think. when i look at those criticisms of his actions, what i really see is the crt ideology even embedded in the criticism. because the way it works, neil, once your race goes from being
about your skin color to being about the content of ideas you're allowed to espouse, keep in mind congressman ayanna pressley, we don't want anymore black faces that don't want to be black voice, rice is content of your ideas, any disagreement with those ideas automatically makes you a racist. there is no greater condemnation in modern america to be called a racist. that is what i see between the lines of those criticisms of governor desantis, calling him a racist, rather than engaging in the debate what we do and don't want teaching kids in high school as they prepare to become adult citizens. i give him full applause and credit. neil: i don't know how you managed to survive harvard and yale universities where these are rampant thoughts. having said that, it is something we don't even think of. at least now in desantis's case he is making people think about it. some attach the racist label to that. i'm just wondering going forward
how you see this battle going? >> i'm actually optimistic about where we can go from here. i think people have grown weary of this culture of capital dediversity, where in the name of diversity we've actually sacrificed true diversity of thought in the maim of inclusion we have created this culture of exclusion where certain points of view just are not welcome. neil, if you ask me, i think most americans believe in their heart they agree with these ideas. that we should want diverse perspectives without labeling somebody racist. most people if they look in the mirror believe their neighbors feel this way in their country too, but they are afraid to have conversations with the neighbors anymore. the way we have cultural revival, real leaders, not just political leaders, leaders in every sphere of our lives start having the courage to speak what most people in this country, maybe not 20% at one end of the left-wing spectrum, 80 plus percent of this country already believes in. i think this culture of fear
infected america, fear is contagious over the last few years but i think courage can be contagious too. if we have enough leaders who are willing to step up to speak their minds openly. i'm optimistic that is what we'll see next couple years. frankly what i've been trying to do in the private sector as well. neil: you've been very successful in the private sector. we're not to talk about wealth and all that but you're a wealthy young man. you're announcing a emerging markets fund. this might be a savvy move with minimal exposure to china. there are a lot of such funds devoted to that region. some that kind of you know, dance around the china play but you're doing it to the point where it is minimal. what is minimal? >> so look i just think, thanks for congratulatory comments, putting that to one side, neil, i think the broad point here is that there is an underappreciated investment risk in capital markets and there is a reason why it is underappreciated.
that is the investment risk associated with china right now. xi xinping has taken over a third term this is no hu jintao's chinese communist party this is xi xinping's autocratic chinese party. there are real risks to investing in china. there is irony. the world's largest asset managers, esg promoting institutions blackrock and others shout from the foothills reminding investors about so-called climate risk but they do not say a peep about the china related investment risks the question is why? the answer comes down to their financial conflicts of interest in china. because mark my words, if they warn u.s. investors about the risks that china invades taiwan, what the consequences are here, for the u.s. economy, and u.s. stocks, and semiconductor companies, they will lose their opportunity to do business in china. so my view is, you cannot be a good fiduciary for u.s. clients and be a vocal voice in the boardroom of u.s. companies if you have the boot of the chinese
communist party on your neck. mark my words, i think the boot of the chinese communist party is on the neck of larry fink and other esg asset managers. not only strive, we're not promoting esg, we're not doing business in china so we can do a unique voice in the marketplace. that is kind of the point of this. neil: interesting. let's keep track how it is doing. i admire what you're doing. i got to admit, vivek, i really dislike you on another level. you're younger than my daughter. you are, you are actually younger than this tie i'm wearing. but that is a whole separate point. we'll pursue that. thank you very much. good seeing you vivek ramaswamy. in the meantime dow is down 331 points. the real story is nasdaq. it is on fire, after this.
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killed the ford battery plant over ties to china. 3 1/2 billion dollar plant at that 2500 jobs would have come now are not. they say that you ruined that. what do you say? >> well i first of all i think the most frustrated person with our movement is president xi at the end of the day, the construct that had been put together was one that was going to enable a company that is, that is highly influenced by the chinese communist party. neil: our next guest is a mayor of grand forks north dakota. he kind of agrees with the governor's approach in virginia, sometimes there are more important things than money. he opposes a chinese-owned corn plant being built in grand forks. he is doing his best to make sure it doesn't happen. mayor, good to have you. many could look at this all right could this be a jobs maker for your city? does it have other benefits that you are potentially denying your
resident because it is china-connected. what do you say? >> i think you know, obviously, neil, there will be economic benefits for something like a corn mill. we went through a long review process. we finally got a letter from the air force saying this is a national security concern t was time to say no, not in grant for example. it was a long process but i don't think in the end if that is a threat that will not move forward. neil: there are more important things than money that is to your credit. i know the air force opposed this maybe on security grounds. you can enlighten me, mayor. where is this going? >> yeah. this would be right on the north part of grand forks, roughly, 12, 13 miles away from grand forks air force business which is another economic driver in the community but in the future right now what the city is going going to do we'll basiy shut down their ability to connect infrastructure and deny any permits going forward. the federal government through the cfius process allowed them
to own the land. they will be allowed to own the land but not be able to build anything on it. neil: they will still have the land, right? >> that is currently the die coot my with the situation. that makes it tough with the federal process. cfius process came out flat on this one. this left us in the middle. it is time to move on. neil: keep us posted, mayor, it is fascinating because it is generating a great deal of interest across the country, certainly in china. mayor, thank you very much. "the big money show" coming up after this show. taylor riggs for you. >> perfect day for me, neil. markets on the move. we'll be a all over the fed induced rally. talk about lowering your taxes, utah governor spence sore cox's proposal to lower the income tax rate. big money of big drugs, ozempic, the risks you need to know as well. at the top of the hour. more "coast to coast" coming up
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investigate the computer repair shop owner who passed along data from that laptop. photos and emails and documents eventually ended up with president trump's lawyer, rudy giuliani. then in the post and other outlets just before the 2020 election. >> i think what you have to recognize in all of this is that the person who brought the laptop to the fore was rudy giuliani. this was in the aftermath of giuliani's clear, inappropriate conduct regarding ukraine. he was at the lynchpin for donald trump's extortion of ukraine. and so rudy giuliani at this point has no credibility. >> giuliani maintained hunter just abandoned this laptop. so did repair owner john paul mac isaac. he received in 2019. tried for months to notify hunter to pick it up. just before the 2020 election and on october 19th of that year, 50 former intelligence
officers including former cia directors, john brennan, michael more rel, leon panetta, mike hayden says the laptop release has all the earmarks of a russian information campaign. twitter and facebook throttled users from sharing stories about it. with republicans in control of the house. they will investigate this and classified documents found at the former president's home. >> major coincidence that the documents pertained to china and they pertained to ukraine. which were the key business areas that hunter was involved in. i think we still have a lot to learn there. certainly doesn't look good. >> republicans are promising hearings on these issues. back to you. neil: rich edson, thank you very much for that. want to go to ronald chapman right now, federal attorney, knows legal angles far better than i to see where this is going. republicans obviously want to extend, carry through on the investigation of hunter biden. look at any ties to fist heart.
where is this -- his father. where is this, ron? >> the investigation is sitting with the u.s. attorney david weiss who is out of delaware. david weiss was a trump appointee. he is staying on biden can't replace him given the existence of the investigation. we learned the fbi is still looking into this. they were looking into tax matters and potential lobbying violations by hunter biden. we know that there is an open investigation currently. now, with the house taking control, and issuing subpoenas and asking questions about this, i'm sure that the u.s. attorney will move a little bit faster in the investigation. neil: now the fact that hunter biden confirmed this laptop in question, was in fact his, does that change anything? >> well it certainly does. he disavowed ownership of the laptop just long enough so the press would die down n a letter issued by his attorneys i understand he claimed ownership of the laptop now.
given ownership has been claimed, the contents are not just the product of russian disinformation, it can certainly be used as evidence against hunter biden in connections between chinese companies and the ukrainian energy company as well. neil: if i could switch gears on these classified documents, they're still trying to ascertain, are out there, they finished apparently searching the president's rehobeth home and his wilmington home. i don't know the status of that, but it appears that they're not returning to either home. but do we know that there is, is there a concern this is much wider? that it could be in other places, other revelations that will happen? >> well i think the concern here is, it has been highlighted by recent press reports is that the government has not been good about handling classified information. this happened with donald trump. this happened with president biden. i did some digging into this. i learned that the information security oversight office, the federal agency responsible for
this, only has 28 employees. in their 2022 annual guidance they indicated, they said they were screaming for help. they said we can no longer keep our head above this tsunami of classified records. i think what we'll find in coming days, weeks, months, even years throughout the course of these investigations classified information has not been appropriately handled by all levels of the federal government. neil: ronald chapman, thank you very much. keep coming back to you to get updates on this, where this, both cases actually they might be intertwined. we'll have more on that later. by the way as expected, we just learned now the house has indeed ousted ilhan omar from its foreign affairs committee. 218-211 vote, seemed to go along party lines if i'm looking correctly. they cited past statements deemed she made deemed anti-set mick tick and worse. kevin mccarthy is taking
questions on the floor of u.s. capitol whether it was to do this with or debt negotiations where they stand. he met with the president yesterday, will meet again. this was expected. representative ilhan homar will not longer serve on the house foreign affairs committee. under this speaker and this republican house. stay with us. ♪ inner voice (kombucha brewer): if i just stare at these payroll forms... my business' payroll taxes will calculate themselves. right? uhh...nope. intuit quickbooks helps you manage your payroll taxes, cheers! with 100% accurate tax calculations guaranteed. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery.
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adam: a tale of two markets. the nasdaq racing away, that average better than 3%. charlie brady on the ground, yoda of finance saying the market, he was saying technology stocks are on fire. to essentially washed out by the bear market. the market got pounded last year. the tech stocks dominated by this average, the dow itself not so much but a couple reasons for that. apple, amazon, google earnings representing 4 trillion in market value. looking forward to this segment, there is a survey that shows two of five millennials,
she is a millennial, who say their parents are still picking up utility bills. >> we may have left the nest but our parents are paying for the new nest. 14% of millennials say their parents are paying at least one monthly bill, folks age 26 to 41. the most commonly covered bill is a housing, 24% say their parents pay their rent. 17% say their parents cover their mortgage. you can see the desire when costs are so high, we are at a decade's high rate of inflation, renting both very expensive so how to escape when both options are pricey? the third option moving back home, not much better but some people do it. girls do it less often than guys, 12% of women and 19% of
men age 25 to 34 living with their parents. this 40% number came from a survey of 2,000 millennials. when you and your team call i am ready to answer the call and do my homework, i reached out to my own crew of millennials texting 15 friends to ask them. this might say something about our work ethic, we have 11 answers. of those 11, six. over half say their parents pay at least one bill. for my group of friends, 50% at some help from their parents. i want to point out one distinction, the survey said housing. all six that it was the phone bill they need help with. we got cell phones in high school, the family plans, we matured with the family plan. they are doing what is paid for.
>> parents called and say -- >> high-quality friends, visiting parents. >> 15 you can call up in a moment, you can understand what we will see more after this. >> the interesting thing is these parents that are anecdotally answering, it isn't a millennial's fault or is it enabling parents? i think we need to look in the mirror here, folks. neil: i tell my kids your mother and i are keeping everything. >> you will not be in at 40%. neil: "the big money show," let's get to it. jackie: welcome to "the big money show".
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