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tv   Varney Company  FOX Business  December 22, 2020 9:00am-12:00pm EST

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heavy whipping cream and its bourbon, not diet cola. >> i approve. maria: cheers to you both. thank you for the great show, always a pleasure for me too hang out with you both. thanks to the fantastic panel for today. have a wonderful day. "varney & co." begins right now. take it away, stu. stuart: here's a headline to grab your attention, and apple card production by 2024. tesla is already shaken up the auto industry, imagine what an apple car would do. sources insist on apple car is in the cards. couple of details, it would be for single drivers, not taxi fleets and would feature what is described as innovative be autonomous driving and battery technology.
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if this happens it's a sick example of big tech money developing new industries as we has seen with amazon and microsoft appeared apple closed about $200 billion in cash, why not use it to develop a whole new product, after all a modern car is a computer on wheels. the left doesn't like this as they don't like or trust big money unless they control it, but it's a example that big tech money funded the iphone, revolutionary products, why not on i car? "varney & co." is about to begin the ♪ ♪ ♪ ♪ stuart: all right now, free, free. susan: america is free. isn't that great? stuart: whatever you say as a
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free people, that's for sure. you heard about this possible car from apple. look at apple's stock price as investors like the sound of that especially with an innovative battery technology with stock up nearly 3% and now look at peloton, way up, studied $420 million on an exercise equipment maker. that makes peloton the front-runner in-home exercise. they have done well from the closure of gyms and stay-at-home business with peloton doubling its global membership this year up 11%. overall, the market is flat this tuesday morning. three days until christmas with the dow jones down maybe 20, nice again for the nasdaq up about 50, close to half a percentage as a b up a fraction. the money is on the way, a near 900 billion-dollar virus aid deal has passed congress and is on its way to the president's
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desk for his signature, $600 per person, $300 a week and then implement benefits, but no direct help for restaurants. how come it was so long-delayed? speaker pelosi passed on a more generous package in october because it may have helped of the president in the election, a classic case of politics and party ahead of people and national well-being. i think it's time we got more details on this new bill. we have the bare-bones spelled out for us. susan is here with what's in it and what's not. susan: average american gets $600 checks if you make $75000 or less in an extra $300 a week and next to unemployment benefits, $1200 for couples that make up to $150,000 and ppp lines extended by 300 billions, eviction moratorium, money for vaccines, schools and the postal service as well as 15 billion
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for airline aid and to get the deal through the two most contentious items were excluded, state and local aid to governments and liability protection, but despite this you had six senate republicans of voting no, cruise, scott connelly, paul, blackburn among those in those that expect the stimulus plan to last until the spring and then what they call a down payment. democrats wanted eight bigger package next year. stuart: i believe the treasury secretary may arrive by next week. susan: all electronic these days so you may see it directly so you don't have to wait for that snail mail. stuart: look who's here, mike murphy. is this stimulus package going to help the markets next year? i mean, i think it's baked into the market now, how about next year >> good morning. it will help the market, but you have to wonder how.
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as investors get $600 checks, that won't be the big pension fund for the large headphone. it will be retail investors, people sitting at home will use the money to invest in robin hood accounts are online trading accounts and one good thing about it is that it brings people into the market. one bad thing is those people tend to be speculative investors i would rather see them invest rather than trade for a quick buck. stuart: doesn't help the economy >> it does, $600 whatever is invested into businesses are what they are spending will help the economy 100%, absolutely. stuart: stay there for a second. i want to backup for more information on the possible apple car. they want to build their own car. is it 2024? susan: yes and they are waiting to use the term i car because it's been reportedly in development inside apple since 2014. 2024 is when we should
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expect it and it should come with innovative groundbreaking battery technology and that's the important part because the battery brings down the cost of electric cars. this would be a game changer. self driving is the goal , project titan as it's been called has stalled in recent years in the e-mail laid off close to 200 people last year from the unit but i think it's been motivated by teslas explosive surge this year that's probably reignited plans inside apple. if there is one, and i can do this, it's probably apple because we know they have the cash and also the innovative supply chain experience building 200 million iphones each year coordinating with suppliers all around the world is difficult and sophisticated and if one company can do that with big self driving cars it will be apple. stuart: a cars these days is a computer on wheels. susan: that's why we are looking at the sensor producers.
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they are surging by 20, 30%. owned by the 25-year old billionaire we highlighted a few weeks ago. it's a laser technology that scans the landscape and builds a three the map. stuart: mike murphy is still with us. i think it's a huge deal for apple, great potential. let's say you? >> absolutely. when you look at apple, it's the largest company in the world with $2.1 trillion market. we talked for so long that the company be over 1 trillion and then it went over to trillion. when you look at apple in the sum of the parts and break up the different business units, this company could be a lot more than $2 trillion and when you add car to the mix, it could be a whole separate trillion dollar piece of apple's business, so if you are long apple, stay long, this is the company went own. it's a great company and the best part is people
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of said for so long is that they don't innovate and they just read make new iphones. i would say they are innovating now. stuart: should i buy it now at $132 a share in to just hold it? >> you know this, i would never went to chase a stock, so with apple, you could, but if you have missed it i rather buy it on a pullback. i don't know what will cause the next five or 10 or 20% drawdown in the market, but you can see them all the time just recently 112 recently, that's when i went to buy apple. i say wait for a pullback. stuart: i will wait for the pullback. mike murphy, thank you, sir. remember when speizer-- speaker pelosi called a thousand dollars tax cut bonus near crowns? now she's calling the $600 stimulus check significant. watch this from 2018. overall tape.
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>> they will start saying things like they are giving money away, bonuses, thousand dollars and now the bonus that corporate america receives versus the crumbs that they are giving to workers to kind of put the schmooze on is so pathetic. i would like them to be bigger, but they are significant and they will be going out soon. stuart: crowns empathetic to significant. what a difference. that man there is brian brenberg. the "new york times" this morning says this new stimulus package is too little too late. what say you? >> a trillion dollars spent over three months is too little too late? i agree it's too late with the government has put businesses out of business and force workers to be at home and they are not done
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anything about it and when the government has effectively seized people's property and not pay them for it, yeah, it's too late but we are talking about a trillion dollars, 6000 page bill that no one has read before they voted on it worry about socialism that will be on its way in the country, let's talk about the socialism in our midst right now. we are watching people lose their business and their jobs and they are getting this 600-dollar payoff like it's somehow supposed to cover over that. that doesn't work. this bill may be too little too late, but it's actually the wrong thing completely. america needs to get back to work. businesses don't want handouts, they want to earn their paycheck. stuart: and there's no direct aid for the beleaguered restaurant industry in this new bill. last word to use. >> will come on in minnesota and you see it with the sign behind me, restaurants in the state are trying to stay open and they are having
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their liquor license, the license to operate rescinded or a threat because they want to stay open and they aren't getting the aid. this is a lose, lose, lose situation. the governor west-- the government was to claim credit for the coronavirus bill, no way they should let these people open up again. that's the only thing that works. stuart: brian brenberg, thank you for joining us. then we have the governor of new york, andrew cuomo believes he's on santas nice list of this year. roll tape. >> healthy holiday and i'm going to have a great one. santa will be very good to me, i can tell. i worked hard to this year. stuart: well, well, well. i wonder what brian kilmeade will say when he joins me next hour. he's no fan of governor cuomo. new virus strain in britain has everyone worried and doctor siegel says it's already here in america, so what are we going to do about it? we will get into that. one more check of the
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futures, please. down on the dow jones, but up nearly half a percent on the nasdaq. back after this. ♪ when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa less sick days! cold coming on? zicam® is clinically proven to shorten colds! highly recommend it! zifans love zicam's unique zinc formula. it shortens colds! zicam zinc that cold!
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go to, where over 1 million people have found golo and a new and better way to lose weight. this is not only a weight loss journey, this is a complete transformation, mentally and physically. (announcer) want to lose 60 pounds? how about 100 pounds? you can. (woman) it's easy, and it will change your life. (announcer) go to that's >> i think that the administration deserves some credit getting this off the ground, operation at warp speed. this is just the beginning. stuart: joe biden getting a jab and praising the trump administration for its rollout of the vaccine. today doctor anthony fauci and health and human services secretary will receive their vaccination of the
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moderna vaccine. back at the top of the 10:00 o'clock hour and we will bring it to you. i'm going to turn away when i see the neil going. doctor anthony fauci says he doesn't recommend the us doing other countries in banning travel from uk to america. dr. marc siegel is with us. doctor, you say it's already here in america? how do you know that? >> well, stuart, it's the usual type where we hear about something at a certain point, but it's not new and has been around several weeks and i believe it's even in the countries banning travel from the uk. of the problem is that it spreads and is easily transmissible, but this is what a virus does. it changes little by little and then the public gets scared because they hear a word like mutation, but this is what happens during a pandemic. it is not moving away from the vaccine. the vaccine will cover it. it's not bored deadly
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and probably milder, actually. we don't know how much of it is around whether it's a predominant strain except in the uk it probably is, but if you band traveled that chokes off their economy and if it's already here it will be something we have to contend with anyway. stuart: what are we going to do about it if it is here and spreads rapidly, you can guarantee some states will call for lockdowns;] the lockdown. >> lockdowns art enormous collateral damage and we have to abide by physical distancing, mask wearing a decreasing travel until we have the vaccine. we already have 550,000 doses of it given out the first week alone and i think they have done pretty good about this. i think by christmas, we may seem 10 million doses and around early next year 28 to 40 million doses, so we will have the vaccine is a powerful tool.
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's tour, let's not jump to the conclusion that this strain is mysterious mutated strain will somehow change everything and take over. it's been identified, it's not the predominant strain here. stuart: what do we know about it? with the brutes are telling us that it's more transmissible, faster transmission than the original covid-19. what else do we know? >> first of all, we don't know that for sure because they haven't proven in the laboratory yet. it's a mathematical projection, but what we will find out, my opinion is there is no evidence whatsoever that it gets you sick or with more deadly and it would take many months or years before it wouldn't respond to the vaccine, so this strain will be covered by the vaccine and there's no evidence it will make you more sick. i'm not convinced that it's as widespread as they say and they have caused a panic in the uk by this lockdown. the streets of london
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are deserted. all the millennial's huddled together on trains fleeing town and probably spreading code in the process. i thought your motherland was a stoic place in the wars, instead they are panicking and panicking is the last thing we need with the virus. stuart: the expression is stay calm and carry on which apparently didn't work this time around in london with scenes of mass chaos at the train stations and bus depots. thank you, doctor. we need to know as much as possible about the new strain and everyone calmed down a bit. >> looks like it's mild. thank you, stu. stuart: that is important if it is mild. again, thank you and see you soon. i'm going to show you some airlines. i'm going to single out delta, virgin atlantic and british airways because they will require covert testing for all passengers on new york bound flights from london.
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come on in, ashley. i guess it's the passengers who pay; correct? ashley: we will get to that in two seconds, but they will require the predeparture covid testing, delta and virginia beginning thursday, christmas eve. british airways to starting the today. this in airport testing costs between $105 and $130. there is also a drive through testing center to the airport costing around $107 and yes, the passengers pay. by the way american airlines not currently flying passengers between new york and london, united airlines flies into new jersey, so both of those airlines are exempt, but new york governor cuomo petitioned the british airways, delta and version-- virgin state this day, new york must be added to their list of 120 countries that
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require testing and apparently those three airlines said okay and began this week. stuart: got it. thank you. we circle back to united airlines. they may temporarily bring back for load workers. .-dot announcement after congress extended the payload-- payroll program through march despite the news united made it clear they don't expect passenger demand to increase that much anytime soon. united, $44 a share this morning. overall, we are looking at a flat market, down there for the dow jones, modest gain for the nasdaq and up nearly half a percentage point. back with more after this. ♪ the ♪ ♪ ♪ ♪
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♪ ♪ ♪ ♪ ♪ to all the businesses make it through 2020... thank you for going the extra mile... and for the extra pump of caramel. thank you for the good food... and the good karma. thank you for all the deliveries... especially this one. you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere,
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from all of us at comcast business.
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stuart: three and half minutes until the market. it will be mixed at the open, but a nice gain for the nasdaq. joining us now, david bahnsen joining us with visit dividend stock play. he likes named companies that pay a big and rising dividend. chevron?
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coming more. >> with chevron you have the leader as far as integrated energy plays, significant downstream, but very big business upstream and you have all the washed out factors about the energy complex, all the bad news throughout 2020 and now you will get increased supply throughout 21 and most certainly increased the demand and i believe chevron 6% dividend yield is incredibly safe , pays its dividend and has grown its dividend for decades. they have been through many bad times in the past, billions upon billions of dollars in liquidity and i think it's a solid play, stuart. stuart: 6% is very attractive. tell me about apollo, think apollo management. >> apollo is paying 4.3% or could they also have a dividend year-over-year and one of the great things
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about apollo for the financials and you recall, stuart, we did well with the gladstone. these are both like blackstone private equity, there invested in hedge fund, private equity, real estate, but their capital is not what's investing in investor money. they are getting the fees to manager. it's very very profitable. they're one of the best asset managers in the world and they don't have the spreadsheet risk. they are in the category they are sitting there collecting the fees, doing well and sharing this profitability with us in the form of a growing dividend, so i believe apollo is very underpriced and really attractive play, different way to go in financials into the new year. stuart: do you find yourself after fashion at this moment because the market is generally at all-time highs, some ipos are going to the moon, huge capital
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gains and you are talking about four or 6% dividend. out of the fashion queen at her site that you were talking about my outfit, so i'm glad to know we are talking about close. i'm used to being out of the fashion in a couple categories, but in the one you are talking about is the one i take as a compliment. you can't make money as an investor following the crowd and in fact heard mentality can blow you to smithereens. i spent the last 25 years watching people do that getting on the bandwagon, so being in fashion isn't a compliment with investing. being contrarian, rational and unfortunately for us and my family i have to do a ton of homework to do this right. we do the homework and find the companies with high dividends that are growing, so do i think energy is in fashion? no, it's not, but i also think it's undervalued and a lot of the things and fashion are way over
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stuart: you are always fashionable on this program, brian brenberg. david bahnsen, thank you for joining us. happy holidays. >> merry christmas, my friend. stuart: the bell is ringing on the left-hand aside and we start trading on this tuesday morning. expecting a mixed market at the open. right from the get-go we are down a tiny bit on the dow industrials. up 24 points. lots of red. a lot of the dow 30 is actually down, but not down that much. how about the s&p, maybe a fractional gain, yes a fractional gain. the nasdaq, it's opening about a third of 1% higher. that's the opening. you have to look at peloton. its way way up. they are buying a fitness equipment maker called pre-core. moehring, what is their
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strategy with this? lauren: well, they want the us manufacturing that precor has so that's why they are by it for $400 million cash. it's-- it's not unprecedented demand for peloton's bike and treadmills but it's being met with long delivery delays because they can't get the products here from overseas in time so if they buy precor they have access to where they manufacture. they hope to start manufacturing by the end of 2021 at the end of those locations and precor has commercial relationships, think hotels in big college campuses, offices so peloton will use those relationships and sell them equipment. that's why they are doing this a deal and it's a record high for the shares i do believe. stuart: that's a zoom right there if i can use it to apply to peloton, up $14. now, show me the tv.
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is the way up again, 9% higher i happened to watch international soccer on that tv. that's not the only reason it's going up. susan: not when you are getting it for free. that is what they do best, they are live streaming sports service and they are up more than 26% this week, 400% this year and yes, it's talking about more exclusive partnerships for other sports leagues and met strict competition to espn and espn plus which is owned by disney. they are saying we will pay you as well that's another competitor and takes away sports rights for the other traditional players. it charges $60 for their plan. stuart: some soccer fans will pay that money willingly.
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i went to go back to apple as they are talking about an applecart 2024 in the stock is up to and a quarter. susan: can you imagine if apple rallied close to 3% today, we probably would have a down day on this tuesday. it would be much worse. apple is probably looking at teslas success. project titan is coming in 2024 with a car that could be self driving. apple says no, we know project titan has been in the works since 2014. will they make their own car and start their own production line or contracted out to other car manufacturers that has experience? you can imagine if someone is because apple gets into this space. you can see tesla down about a third of 1%. general motors, ford, other players in the
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electric car self driving revolution would also be scared with someone that has 200,000,000-point-- twitter billion dollars on the balance sheet. stuart: i find that a fascinating story. that i car. susan: it's not like we haven't seen tech country disrupt traditional industry so if someone could do it, apple could just walk in their zero mike tesla and microsoft and invent a whole new industry. susan: we have seen it so many times. stuart: we constantly look for big winners, sportsman's warehouse up 35%. i guess they are being bought by someone, ashley? ashley: they are becoming part of the great outdoors, the company agreed to be bought by cabela's great american outdoors group. they will pay $18 per share for the sporting-goods retailer. we should point out at sportsman's warehouse closed yesterday at $12 and 65 cents per share and now up-to-date 35
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cents with the deal expected to close in the second half of next year great american outdoors, by the way, says it plans to remain a private company. look at that stock go. stuart: thank you. mr. outdoor up again this morning. i guess they got another upgrade, lauren. ashley: they did. 33-dollar price target, so quite a ways from where they are now. on demand for ammunition on the analyst says mo demand up cycle. obviously people are shooting for spore, recreation and also defense. was looking at comments from the ceo and he says they have a years worth of ammunition orders already brought for all of next year totaling at least a billion dollars, so they bought a factory once owned by remington to help fulfill that. demand far outstripping
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supply and in this case it's a good problem to have. stuart: you are in upstate new york and if you went to a gunshot you would see a line out the door for ammo, it's really in short supply. show me sit bit. i think it's down. five-point-- 5% lower. what happened. susan: the deal with google is in question. they are concerned it makes google even bigger. google bought fitbit a few years ago. the doj has still not okayed the deal. you has approved it. given there are three antitrust lawsuits filed against google in two months it's not a done deal and fitbit is selling off. stuart: i had forgotten that google bought them, $2 billion. susan: $2 billion and they don't have approval yet. stuart: ceo of biotech said they
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could make a new covid vaccine quickly if needed. how quickly, lauren? lauren: six weeks of time. i found this encouraging as well as what dr. marc siegel said. the ceo of biotech who is also working with pfizer and their vaccine together saved the proteins in this uk variants are 99% the same as other strains and they are testing right now so they will know for sure in about two weeks if the existing covid vaccine also works on the new strain, but should they need to adjust it, he said they can do that in six weeks time so pretty encouraging the. stuart: that is extraordinary. entire vaccine in six weeks. then we have carmax down this morning despite a strong quarter. isn't it a record year for used car purchases, ashley? ashley: it is an carmax the
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revenue expectations, but the fly in the ointment same-store sales surprisingly dropped by nearly 1% when everyone expected a gain of three and a half percent in the company says a resurgence of the virus and economic uncertainty were factors, but carmax reported revenue at more than 8%, sales group four and a half percent and the average selling price of a used vehicle was up more than 3%, $21402. stuart: $21000 the average used car price, i did not know that. dow jones down 92 points after eight minutes worth of business this tuesday morning, but we are still at 30100. the newest member of the squad has just compared capitalism to slavery. we will play you his comments are democrats breathlessly spent the last four years obsessing over so-called trump russia collusion and i hate to do this,
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or what is this again. >> it so obvious they were eager to collude with russia. >> attempts to obstruct the russia investigation. >> rush interference. >> rush us. >> all indications point to russia. stuart: former acting intelligence director says democrats have hoodwinked us into thinking russia is more important than china. the man himself joins us in the 11:00 o'clock hour. ♪ hey! yeah!? i switched to geico and got more!
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stuart: still a mixed market. 13 minutes into the trading session with the dow jones down 100 points, nasdaq up 49. how about these bitcoin index funds, basically
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funds that let you buy into the bitcoin marketplace. i guess they make it easier. susan: the easiest way to invest because you can find it on robin hood or schwab, but the two most popular indexed funds is bitwise crypto fun. bitwise is trailing-- trading nearly four times more expensive than the bitcoin holding almost 400%. grayscale more than 30%. investors expect more upside and a surge in bitcoin prices. stuart: let's look at where bitcoin is now. i believe it's 234. susan: that's close, 23600 some say was the record high for bitcoin. stuart: you are close to it now and we have now zac prince, a cryptocurrency kind of guy. coin base, they are
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filing for an ipo as i understand it. i wanted to know what that filing, the exchange, what does that do for bitcoin and the other crypto? does it make them mainstream, legit, easy to get into? >> thank you, stuart. i'm excited to be here. i think that filing as part of a bigger trend with technology companies and everything growth oriented being highly valued in this market. cryptocurrency and companies like coin bit enable investors to get access to them all for a unique investment opportunity. for bitcoin is kind of a mix between a hedge against inflation and high growth enter capital, companies like coin base are kind of a pick and shovel play on this asset class and as the first large player in the cryptocurrency industry to go public i think it's a very important moment for the ecosystem and i'm hopeful it will be a really well-received
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trade. stuart: dennis, a well-known market analyst said on our program yesterday that the big central banks of the world just will not tolerate bitcoin for a long and they will come out with their own cryptocurrency somehow or another squash bitcoin because it challenges their currency. what you say to that? >> actually think it's complementary. it's important to highlight bitcoin has been the best performing asset of this year in the last decade and the returns it's generating for american investors is incredible. furthermore, one of the most exciting things that's happening in the cryptocurrency ecosystem today is dollars are moving into the block chain networks and it's creating new demand for dollars below-- globally and as a result i think this ecosystem will be a strategic asset to the united states and we should aim to be global leaders in developing technology and strong companies around it just
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like we did with the internet so i think the cryptocurrency term creates a bit of a misnomer in terms of the use case for assets like bitcoin. the biggest currencies used in the cryptocurrency ecosystem art dollars in bitcoin serves a different purpose completely took it's an investment, and asset, a hedge against inflation i'm a but i don't think it's in position to disrupt above dollar. i think it's in position to strengthen the dollar's andy on the global playing field. stuart: can you tell me where people want to do this, can you tell me where you think bitcoin is going? >> i think bitcoin is going higher. i don't make specific price targets but i encourage folks to check out where you cannot only by itself bitcoin but can earn a yield. stuart: zac prince, thank you for joining us. another subject i'm rarely familiar with some of that everyone else is. during a press conference speaker
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pelosi, on your screen now, ignored this question from a cnn reporter. watch this. >> he proposed $1.8 trillion. stuart: that's ignoring the question, just walking right out there. mcconnell says pelosi and schumer could've had a a bill months ago, a big one, but they wanted to damage trump, so they delay. you will hear my take on that at the top of the 11:00 o'clock hour. did you know buried in the aid will be increase penalties for ill legal streaming of music and movies? could carry 10 years in jelly-- jail, a felony no less. we are on it. ♪ ♪ [ sigh ] not gonna happen.
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stuart: mgm, the studio behind james bond may be up for sale. what we know about this, ashley? ashley: mgm holdings and analysts say the market value could be around $5.5 billion. mgm is betting its library of content will be attractive to companies competing in the streaming wars.
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james bond is the biggest asset it has, but the studio has more including the rocky franchise, silence of the lambs, rainman, terminator and even the handmaid's tale and also owns ethic, a premium tv channel, all of this, the kind of content that could prove to be attractive. stuart: thank you. to put the streaming services on your screen. in these are the stream or so to speak, leaders in the field. mark douglas is with us. mark, you are in here because this new stimulus bill, there's a provision that makes it illegal streaming a felony. can you tell me what is illegal streaming? >> sure. it's almost better defined by what it's not when caveat is the legal streaming for commercial profit. illegal streaming takes movies and other content and puts them on the internet for people to
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consume without paying for them. it's something that used it to be more prevalent in the past, but with all the streaming services now in the low prices on them it's pretty easy to get content for low prices, but to add to that one thing it does not cover is if you are putting a small video on youtube you won't get arrested. you won't get arrested for sharing your netflix account or anything like that. it's really for profit in order to make money illegally. stuart: you follow the streaming business. it seems to me you have been on should the show frequently and am i right in two leaders here, not necessarily the winners, but the leaders is number one netflix and number two disney? >> absolutely. by the way, netflix has very liberal account sharing. this bill doesn't cover account sharing. going back to the
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question, yeah, they are clearly the leaders. disney rocketed to almost 100 million subscribers and if you take out covid the stock price it essentially doubled from kind of the huge drop that it had earlier this year and we still have the parks to fully reopen. disney is doing amazing. netflix continues to lead the field worldwide and they clearly dominate this space. stuart: how about at&t? i think of them as loggers in the industry. >> absolutely. also with the mobile plan, number of the mobile plans they have bundled gives you access to other content for free, but in terms of buying and they owned directv and in terms of buying services and turning that into a coherent streaming essentially offering, they have not done a good job. they are way behind from
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disney and netflix and even some others. stuart: and the stock has been in trouble. mark, good to see you back again. let me wish you merry christmas and we will see you in the new year. >> merry christmas. stuart: still ahead, we have bill mcgurn, "wall street journal", brian kilmeade fox news kind of guy, charles payne, ric grenell former national intelligence director all of that in the second hour of "varney & co." coming up next. ♪ just like your fingertips,
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♪. susan: come on. stuart: hand clap. susan: hand clap. stuart: this is the tantrums? susan: i love this song. stuart: are they a name for a band, the tantrums. bill mcgurn, charles payne, ric grenell, all of them coming up. check the markets. first the market. nasdaq hit new intraday high. you're looking at 12, eight now on the nasdaq. should tell you any moment now
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hhs secretary alex says sar, dr. fauci will receive the moderna vaccine. that is happening momentarily. when it happens we'll show it to you. we have numbers. latest read on consumer confidence. forward-looking this is. lauren, the number please. lauren: it deteriorated. for december came in at 88.6. that was lower than november, 96.1. certainly lower than the expectations. consumer confidence from the conference board month of november disappointing at 88.6, stuart. stuart: that took a little shine off the dow, down 40 points. if you're a realtor, if you're in the real estate business, it is a big number, it has just been released. november existing home sales report. susan: still strong in november, 6.69 million units. pretty much in line with economists forecast of
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6.7 million. look, we had prices coming down by 3,000 in a month. 310,000,800 is median home price. still near red levels. this is what we call a real estate boom taking place thanks to low record mortgage rates. stuart: give me the median price please. susan: $310,800. 313,000 in october. still holding pretty strong levels for the housing market. stuart: when we get the real estate numbers we bring in mitch roschelle. he covers the entire market for us. mitch, good to see you. i think i got it right, august of 05, that was the record high for existing home sales, 7.3 million, august 05. now it is 6.69 million. still way up there. do you think we're close to a near bubble situation of 05 and 06? >> i will say boom and not
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bubble because what was going on in' '05, 06, was borrowing 100% purchase price of the loan. what is changing. don't get me wrong, there are investors in the market, people are buying homes to live in them. that's a big difference. i think when people put a down payment down, they buy a home to live in it, i think the behavior in the market is different. stuart: you and i talked about this before because i've been down in florida recently and i would tend to think the florida real estate market is in fact a bubble situation, what would you say just about that? >> florida is, i spoke to a realtor yesterday about it and she said the market is red hot. i dug into to see or not it was bubblicious t looks that way, there is a little bit more
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investor activity down in florida. stuart, there is no supply at all to be found. trust me, i like at zillow, red fin all the time there, is nothing new coming on the market. that is driving up prices. we talked about this before on your program. this is stampede of people driving down 95, i-95 going to florida with nothing to buy. that is what is driving up the prices too. stuart: is there any likelihood that mortgage rates will go up in any significant way in the next six months or a year? right now, i think you can get a 30-year fixed for what, 2.7, 2.8%, historically very, very low. any chance that goes up significantly? >> i don't see it. i just see, you have to look at the bigger macro story there about the 10-year treasury and maybe even the five-year treasury. i just think this, a lot of economic head winds out there are going to keep interest rates low, the fed will try to keep the treasury curve as low as well. it is driven off of that.
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if the, only thing i can turn that around a little bit is that the fed stops buying bonds the way they have. one of the things they're doing, they're shoring up the mortgage market by buying mortgage-backed securities. if they back off a little bit, i could cause spreads to widen a little bit, i called the 2% 30 year fixed on your program, i probably got that wrong. i don't see it going much higher in the next several months. stuart: is this the best, i should say the strongest real estate market of the last 15 years? >> i think the fundamentals are in fact very strong but there are some losers out there. let's not forget. people who have condominiums in urban places like new york city, san francisco, they see a completely different market but when you look at suburbia, you look at single family homes, it is really, really strong. we'll see what happens as we are picking up the pace of additions of new supply of new homes. when those hit the market.
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i think fundamentals in terms of how strong demand is, how little supply there are, that makes for rising prices. at some point the prices will start freezing out some buyers. stuart: got it. mitch, thanks for joining us. best of holidays to you. >> same to you, stu. stuart: then there is this, a new member of the squad, that would be congressman elect jamaal bowman, calling capitalism quote, slavery by another name. come on in scott shellady, the cow guy. he is looking grim this morning. i'm sure your itching to respond to the statement capitalism is slavery by another name. >> they're quick to tear it down. you run into these people all the time, at least i do, what is your idea, what is the alternative. they just don't have alternative but like to tear it down. no other system around the world since time began, made more wealth, made more people wealthy, done better good globally than capitalism.
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they can say all they want. nothing is perfect there is always room for improvement. this is what the people do they tear town the institutions sometimes they have had it too good. they don't know what it is like to have hard times. capitalism is the answer. it is what frees people. you work as hard where you want to be. that is common sense. listen to de blasio, i'm going to redistribute wealth, right? these people never talk about creating wealth. that is what capitalism is all about the creation of wealth, not the distribution or redistribution of wealth. so this gentleman's has no alternative. he has got comments to say what is detrimental about it and i don't care about what you think why it is bad, tell me what the alternative is? tell me what the founding fathers in your world will look like? they don't have anything to say. stuart: i'm looking at your picture. it looks to me like you've gone back to arizona, if that is correct, why did you do that? >> stuart, it's untenable the
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draconian rules you see happening in chicago. it is bad enough the weather is bad. now there is no real dining anywhere. the holiday spirit is just not there. so i came back here because you know what? it is outdoors. it will be 75 and sunny today. it will be 72 and sunny on christmas day. why not be here where people are outside, enjoying themselves, having actual christmas holiday rather than being locked up inside with a vent recirculating bad air all day, maybe making everybody in your house sick too. stuart: do you have ever fly on the plane in the cow jacket? >> you know, there has been a couple of times i wear a shirt with a cow collar and maybe cow cuffs. the captain will come back, say hello. they never say my name. you know what they always say? you're that guy on stuart varney's show. stuart: that is flattery. scott, i know that is flattery. i wonder anybody gives you a hard time.
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fairly conservative guy. you like free markets. you're down on the socialists, does anybody give you a hard time? >> i would generally speaking every time i go out to dinner, on airport, airplane i get stopped but i would say 95% of the time it is usually food. there is always somebody that has something to say negative but yeah i, it is very nice. some day i will miss it. it is good. obviously your show is widely seen and the comments are well-taken. so it's nice. stuart: flattery is the mother's milk of television i will have you know that, scott shell scott shellady. don't you ever forget lated. merry christmas in arizona or wherever you may be. always appreciated, scott. >> thank you. stuart: back to the markets. where are we now? still down pretty much across the board. that is not true. we're down 120 on the dow. s&p up tiniest of fractions. nasdaq up is up 3/4 of 1% n a
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market like this you expect some stocks are moving up, down, sideways, most of them we'll quote are movers we'll call them. big change, susan. susan: talk about apple, 4 1/2% right now, that is probably taking the broader indices with them. apple is the most single influential stock in 40 years going back to 1980. the reason? there is report apple will get into electric self-driving cars in four years, 2024. that is short time away. they have been working on it since 2014. they're taking along lidar sensor producers, luminar, it is owned by the 25-year-old billionaire that rang the bell on the nasdaq a few weeks ago. what does lidar do? back on sensors of iphone 12. they are laser scanners that map out the terrain in 3d for
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self-driving in the future. what about the addressable market when it comes to electric cars? tesla is winning the race. tesla rocketed 700%. addressable markets. total addressable market aventura. electric cars is worth $800 billion in seven years. think about it. tesla is openly producing 500,000 vehicles each year. there is a lot more to go. there is lot more room for other entrants and that is apple. stuart: that is the headline of the day, apple getting into electric cars. 2024, the i-car. susan: not sure they call it the i-car. stuart: probably not. everybody, now this. what does georgia have to do with new york, new jersey, illinois and new york? everything. it's a straightforward calculation. if the democrats don't win both georgia senate seats in the january 5th election they will have a very hard time bailing out those badly-run democrat states. and they will face a financial
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crisis, those states will. it is desperation time. two things are hurting these big blue states. first of all a massive state worker pension deficit. simply put, they can't pay their own retired workers. this is a long-running problem. it started way before the virus arrived the democrats need to win the georgia senate seats so a democrat senate could vote for a blue state bailout. super high-stakes. there is a 5 trillion-dollar pension deficit with a big chunk of it in new york, new jersey, illinois and california. i'm sure you have noticed those states are lock down states. those lockdowns have really hurt their economies. it's a self-inflicted wound but they want the rest of us to pony up our money to help them. open for business florida would be asked to subsidize closed up new york. open for business texas would subsidize stay at home california. it would be the senate that
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would authorize that kind of help. so it's the senate the democrats must win. there you have it. georgia means everything to the democrats. win both seats, win control of the senate. bail out the big blue states. all will be well on the left. but if it goes the other way disaster for democrats. reprieve for republicans. high-stakes indeed. more on that with bill mcgurn coming up. that is very much his subject. he knows all about it. he will be on the show shortly. then we have governor andrew cuomo of new york, he think he has been a very good boy this year. watch this. >> healthy holiday and i'm going to have a great one. santa will be very good to me, i can tell. i worked hard this year. stuart: all right. let brian kilmeade deal with that. meanwhile in california governor newsom said restrictions are likely to be in place until january. how about that? plus you will hear my take on nancy pelosi.
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>> here's my goal, to go and bring it up to the california courts to override what the governor is doing, to get us all open because they're threatening to take our liquor license away permanently if we open. i'm trying, i'm trying to push the giant. stuart: that was angela marsden on this show talking about california's hypocrisy and now she is making good on her threat to take governor newsom to court. tell me more. this is lawsuit i guess, ash. what is she doing? ashley: yes, it is, stu. she filed a lawsuit in federal
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court claiming that governor newsom's orders have been overbroad, not based on science. allowing a state public health officer to decide which businesses can open and those that cannot without any legislative input t calls the action of the governor and the state a gross abuse of power. the statute also claims the shutdown order violates the first amendment right to freedom of assembly as well as the fifth and 14th amendments right to due process and equal protection under the law. the lawsuit is asking for injunctions stopping enforcement of both executive and regional orders, stu. stuart: so they're going to court right there. thanks, ash. staying in california governor newsom says his state's stay at home order will likely be extended. lauren, till when? lauren: we're not sure just yet but we can say at least through january, because the current lockdown order that lasted three weeks, expires next week.
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so the health worry is that california is going to run out of icu beds with the potential 100,000 people in the hospitals next month but the other worry is that these lockdowns are so unpopular, so is gavin newsom right now especially after the french laundry dinner. you have tesla, oracle, hp moving out of california to texas and new report says a third of restaurants are going to close or downsize. so there is a big problem in california healthwise and also economically speaking. stuart: that's for sure. thanks, lauren. time to bring in tyler. he is a restaurant in new york. tyler, welcome to the program. you have bad news, because the stimulus bill did not include direct aid to restaurants. how do you feel about that? >> thanks for having me on the show, stuart. what really is the problem here is that congress passed a bill that is a one-size-fits-all
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bandaid. money for everyone except not everyone is as affected by this pandemic. the service industry alone, especially the hospitality industry has been decimated by this pandemic. one in five people have lost their jobs. 85% of restaurants right here in new york city are closed forever. what is going to happen? unemployment will go through the roof and at the end of this pandemic we're going to be at the verge of an unemployment pandemic. stuart: what are you going to do about this? other people in the restaurant business who have been on this show say lookth being put out of business. they're suing the governor of the state that they're in, whether cuomo or newsom? what are you doing? >> we pivoted. i'm coming to you live from the holiday dining cabana. these are safer than outside dining you have your own house on the street of new york city to dine in. it is absolutely incredible and
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postively the warmest table in the city. secondly,, you need to go there right now, you need to file, talk to the legislation, sign with the petition. i'm working with senator dan crenshaw to push forward the restaurant act. this will save all restaurant and hospitality industry because this next round of government finance something a just a stopgap. it's a bridge to something much, much better. i am positive, i am positive with the support and love of everyone out there we can get this done and make it happen. stuart: so this restaurant act that you're talking about that you're working on that gives you money, basically it is the government giving you money to keep your industry going, that's it? >> stuart, let's be really clear about this, it is money to save people's lives. stuart: sure. with you. >> their jobs. it is money to save peoples lives. that is all it is, all it will ever be. stuart: okay. i have not seen your cabanas,
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your little houses on the sidewalk, i've not seen them. i take your word for it. that they're cool and warm and real good. >> holiday dining chalet. stuart: can you fill them up every night? >> we're lucky that we have great support. our team is exceptional. our chefs are, frankly magicians. our mixologists are wizards behind the bar and we have created something truly and unique that you cannot find anywhere else here in new york city and we're lucky to be booked pretty much every night. it is very hard to get a table, especially when there are only three tables. stuart: who would have thought tyler hollinger would be running a chalet business but you are young man. that is good. i take my hat off to you. innovation is the way you survive. doing a great job of it, tyler. hat tip to you,. stuart: stuart. >> stuart, i have one question,
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when are you coming for a cocktail? stuart: if you're not careful i will take you up on that. tyler hollinger, you're all right. come back in the new year, tell us how you're doing. good stuff. thanks, tyler. >> merry christmas. stuart: a good man. the new stimulus package failed to include quite a few things, including liability protection. it is not in there. kristina partsinevelos live in new york. our businesses now bracing for lawsuits, kristina? reporter: business owners are very worried they could be facing a slew of lawsuits or complaints because employees or customers could get sick on their premises. like you mentioned it is because they're no included, the liability shield was not included in the second stimulus package. according to lawsuit tracker, hunter andrews, there are 6700 complaints filed so far regarding covid-19 against businesses in the united states. there is about 100, or hundreds of negligence lawsuits as well.
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think amazon, kroger, those are examples. mcdonald's as well. they're all facing lawsuits pertaining to covid-19 but those are big players. they can mostly incur the costs. it is a little more difficult for smaller business owners. according to the federation, or national federation of independent businesses they say that smaller businesses need protection or face excessive litigation. >> they typically are not sued by the white shoe trial attorneys. we find their victim is bottom-feeders of the trial bar who will say, if you don't give me x-amount of money by x-day i will sue you. reporter: labor and civil rights stu, are very against this type of shield. they say employees have to work. they need a protection. they worry that businesses may skimp out on protection as well. stuart: it as racket.
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that is myp opinion. thanks kristina. i'm being a little extreme. much more ahead, including new stimulus checks, 600 bucks. some say too little too late. charles payne on that coming up. secretary asar and dr. fauci getting the vaccine. it is right there. we'll bring you more when it hams. the megamillions powerball hits a new record. you know what i say about the lottery. it's a tax on poor people. we'll get into it. ♪. to all the businesses that helped us
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stuart: markets still mixed. we got the dow down, s&p down, nasdaq up. take a look at the vaccine makers. we're putting them up on the screen. we're waiting for dr. fauci, secretary says sar to receive their moderna vaccine. will happen any moment. a series of health officials had the jab. we're waiting for dr. fauci and secretary azar. we'll tell you when it happens. following the discovery
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after new highly contagious strain of covid in britain, three airlines will require testing if they're flying to new york. which airlines? susan: british airways which is pretty obvious, virgin atlantic and delta. testing on virgin and delta start on christmas eve day. british airways start preboarding testing today, december 22nd. american airlines not currently flying passengers between new york and london. united both are exempt from the rules. no they need to self-quarantine for 14 days after touching down. stuart: it is another imposition on international travel. another reason not to get on a plane and travel internationally. another reason why you can't do it. susan: i would say in this case it is probably necessary because of indications. stuart: fair enough but the recovery of international travel has been set back a little because of this. susan: airlines are down seven, eight, cruise lines down 10% yesterday. stuart: a setback any way you
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slice it. united, they have got a plan to get their sick pilots who may be stranded abroad back home. lauren what are they going to do with them? lauren: well, try to get them home in a plane. they have this extraction plan. kind of reads like a military operation. but they get a passengerless plane to pick up where the crewmembers are. tells them exactly where to sit on the plane. everything from the bathroom where they can use and where they condition put their trash. if they can't get a plane or pilot to fly them home. they will find another way. bottom line they don't want their employees forced into foreign hospitals or face quarantines abroad. they're coming to the defense, if you will, of their crew. stuart: you got to take care of them. that's a fact. lauren. thank you. let's move on to alaska airlines and boeing combining to make a story. what is the story, ash? ab ashe alaska airlines has agreed to buy nearly two dozen additional boeing 737 max planes. that is how they come together.
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it is the first order from a u.s. carrier since the planes were cleared to fly again last month. alaska said it will take delivery of 68. is that secretary azar? stuart: it is. ashley: i think it is. stu, go back to you for this. stuart: you can recognize secretary azar. he has been on the program many, many times. he is about to get the. moderator: shot or the jab, as ashley and i like to call it, the jab. it will be administered in a second. nothing to be said except it is the moderna vaccine. all the other vaccinations you've seen, probably, most certainly are the pfizer vaccine. now we have the moderna available and secretary azar is about to take it. when he has taken it. he will stand up. in comes dr. fauci and he will get his jab. here is the moment, i'm sorry i have to look away. i'm sure they will put something on his arm so it dulls the pain right there. a little swab there, you know how they do that?
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everybody look away. wait for it. wait for it. susan: i usually -- stuart: alcohol swab by the way. oh. going to be me soon. not keen on that. susan: my goodness. stuart: it's done. all right. the secretary is in fine shape. susan: this is what i don't understand. i don't mind looking at needles entering my arm because i know it will do me good. for some reason you and other provides have to look away. some even faint when they get jabs or needles. stuart: i don't faint. i don't like to see, it is panful. susan: come on. stuart: where is dr. fauci? susan: where is the man cough? stuart: probably in the same place. because they have to observe social distance. they can't walk to each other, shake hands. how are you doing, doctor? no, they can't do that. dr. fauci, keeping his distance. there he is. very recognizable character. he has been on tv virtually every day for the best part of a
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year. so you know who he is. i believe he is now 80 years old. 80 years old. hats off to dr. fauci. i mean he looks vigorous and dynamic. rolls up his sleeve. the alcohol swab is on its way. i bet you never seen running commentary of a jab before. susan: what about the messaging in these public vaccinations? the point is to get more americans to sign up to get the vaccine and the jab as we call it or the needle. do you think this is helping in that individuals like anthony fauci or secretary azar willing to do it? stuart: i'm glad drawing dragged us to the meaning of this story. come on everybody, you can do it. i'm 80 years old. i'm fine. it didn't hurt that much. one, two, three, look away. and it's safe. that is encouragement for the rest of the world to do it.
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folks, i think we've seen enough. i certainly have. i bet you that the is first time you ever heard running commentary on the jab, right? how did i do? susan: it was great. stuart: smile. susan: when will you get your jab? stuart: i'm told to get on with it, stu. i will. let's turn to georgia. "wall street journal" guy bill mcgurn is with us now. this is the georgia senate runoff election january the fifth, two weeks away. bill, first of all, the democrats, what do they need to do? how will they try to win those georgia runoff elections? >> well i think the big question for that, for them is the african-american vote. african-americans are huge and growing part of the voting population in georgia. i mean the demographics are really shifting so if they can mobilize these voters, it is one reason casey abrams who lost a gubernatorial bid there two years ago has been trying to register black voters because it
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is their best bet that turnout for winning in january. stuart: i hate to say it, these elections will come down to black votes for democrats and white folks vote for republicans? is that simplistic? >> well, no, i don't think it is quite that because all white voters are not voting republican. one reason joe biden won is that there are a lot of white republicans in the metro atlanta area who didn't vote for him this time but it's a question whether, look, it is kind of a grudge rematch between biden and trump and the question is will trump mobilize his supporters to go out around vote for kelly loeffler and david perdue or will he alienate republicans? i think he will turn them out in georgia. i think they will do what he asks. the interesting thing that nobody's noticed is joe biden was down there, he doesn't seem to be a factor at all. in the general election it proved he had no coattails and
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we'll see this in georgia if he has any coattails. it doesn't like look democrats are looking to him to get out votes. one indication kamala harris has been down there and, they might think she is a more reliable source of votes than he is. stuart: bill mcgurn, thanks for joining us this morning. two weeks to those crucial elections. watching very closely. >> merry christmas. thank you. stuart: anti-lockdown protesters stormed the state capital in oregon yesterday. they clashed with police. we're going to take you there for a live report shortly. coming up, ric grenell. he says that the democrats hoodwinked the public thinking russia is a bigger threat than china. he sees it the other way around. he will make his case in the next hour. ♪. just like your fingertips,
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♪. stuart: susan and i are still talking about looking away from the needle and we concluded men look away and women don't, is that right. susan: that's correct. what does that say? stuart: i don't know but the dow industrials are down 80 points but the s&p struggled back to a minor gain. we still got a solid gain for the nasdaq. intraday high, all time intraday high, 12,800 on the nasdaq. you have to look at apple. i think this is the story of the day. it is not the stimulus plan, no, this is apple. there are reports that they will get into cars, putting out their first car model in 2024 using innovative, automated driving and battery technology. i think that's a huge story. the stock is up 3.7%. big deal. tesla, they're very much
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competitors in the battery development business. here's how they're doing on their second day of trading within the s&p 500, down again. 2 1/4%. last minute christmas shoppers are at the mall but not as many rushing as last we're. what have you got on that, ash? ashley: that is certainly true. covid put a damper on that as you would expect especially could have individual hot spots like california. foot traffic down 55% on saturday. it is known as super saturday, the last before christmas day. 80% of california under some form of stay at home order which allows retailers by the way to operate indoors at just 20% of capacity. apple has temporarily closed all 53 of its retail stores in california as a precaution but according to adobe analytics overall across the country, online sales this past saturday
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racked up $1.6 billion in sales. that is up nearly 30% from a year ago. stuart: that's the story. that tells the story, online absolutely booming up 30% in a year. ashley: yep. stuart: amazing. all right, ash. for those who cannot head to the store they have to rely on delivery services. susan, are we hearing about big delays? susan: back backlogged among multiple crisis, ups, pose office covid issues. there are reported packages stacked in hallways in offices. kicked aside so postal workers can get by. because of backlog, on time performance is doing terribly. only 57% of first class mail arrived on time. last year that number was 95%. fedex, ups, yes even the usps limited number of packages they will pick up this time in the holiday shopping period.
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they're just trying to keep up with the record spend online and record deliveries. stuart: i don't know how they do it anyway. that is extraordinary. coming up cnn's brian stelter claims america is radicalized. listen. >> the best word what is happening in america right now is radicalization. that's what it is. that is what this hyped up right-wing media machine is doing. stuart: oh, it is our fault. or somebody's fault. that is not all. we'll show all of it. that is a plus. new york governor cuomo, he says he wants you to know that santa will be very good to him this year. brian kilmeade will take that on in a moment. ♪
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that's it. i'm calling kohler about their walk-in bath. [ sigh ] not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do.
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a kohler walk-in bath provides independence with peace of mind. call to receive $1,000 off your kohler walk-in bath. and right now we're offering no payments for 18 months. (announcer) do you washed pounds? stress? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships. go to to get yours now. >> megamillions boy ball jackpot soar towing amounts. lauren what with we talking
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about? lauren: $320 million. there could be a winner to or tomorrow night. your chances of winning one in 300 million. if you do, student, you hire a accountant, financial advisor and an attorney. stuart: you see a lot of your relatives. ain't that a fact. all right, exactly 10:51. you know what that means, brian kilmeade time. he joins us right now. i want to start with governor cuomo saying he is on the nice list. i know you've seen it but watch it again. roll it. >> healthy holiday and i'm going to have a great one. santa is going to be very good to me, i can tell. i worked hard this year. stuart: i know you've been building up all morning to respond to that, so have at it, kilmeade. >> a couple of things. he takes no responsibility for nothing. when the riots were happening in new york city i don't really run the city. when the schools get shut down, it wasn't my call. i probably would have left them
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open. when it comes to the nursing homes, that was a mandate by seema verma in the white house. we didn't have ppe? where was president trump? now he is blaming the federal government for not stopping the uk residents from coming here with this different strain when there is already severe restrictions on uk residents coming in. then he turns around says, even though he has brought the business community to its knees, writes a book how to do a pandemic, does a book tour in the middle of a second wave, does a fund-raiser with celebrities, while people are flat on their back and eating outdoors in 20-degree weather in restaurants, for restaurants in order to keep them in business, this guy says that santa is going to treat him great. i wonder if what is worse, him really believing that or he is just putting us on in saying that? stuart: it's a public front. he almost got to say it because he has made such a mess of it. he has to try to come out with something positive. so he goes to santa claus.
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doesn't make any sense to me. you're really upset about this, aren't you? you see the state going down the tubes. >> yeah, new yorkers want to work their way threw it. they're not allowed to. i sit in a restaurant in long island, i'm lucky to do that. 9:30, hand you styrofoam boxes you're done. i talk to managers like you do to v what is going on business community. they lose their last seating. they have no bar crowd. they put money in plexiglass. they are wearing masks everywhere. they redone the kitchens. they want an opportunity to work, 11, 11:30 or 12 at night. someone works late until 6:00, go on a train. 45 minutes to eat. no one gets tips. that is how you take a bow saying santa will treat you great? that is me is terrible? i know there did no perfect way. sweden thought they had it down they were wrong. germany had it wrong.
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netherlands hat it wrong. only one had it wrong, china i we need to go to work. we do. stuart: i wanted your comment a north carolina official told her constituents stay home for the holidays. meanwhile she is doing the exact opposite. brian, this keeps on happening. no wonder there is defiance. this defiance, this revolt is growing you know? >> this dina dorio, says everyone stay home. comes out says that wait a second what are you doing for the holidays? i'm driving to durham. who are you going? my family i know where they have been. i'm making a personal decision made i have. that is personal decision everybody needs to make. did you tell everybody to stay home. yeah. now you say it is up to your personal volition and decision? secretary azar on second favorite show sarni and company, "fox & friends." he was on this morning if you
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get the vaccine do you have to wear a mask. you know said? i don't know yet. thank you. thank you. you're being honest. you don't know. anthony fauci please take a lesson and page from that. we have not studied it. wear it until we know. we don't know yet, we got the vaccine. when you do things like that you make us part of the process instead of us against them. it is very easy leadership. that's all. stuart: when i look across the spectrum here i look what people are actually doing, whether it is florida, new york, up state california, who cares? people are actually out and about. they are. that form of almost mass defiance. i'm astonished at it. i think it gets better or worse depending on your point of view, but it is here to stay. especially christmas and new year's. last word to you. >> give me florida and texas's attitude. know the dangers of virus. they know what they have to do. i at least have opportunity to keep my business going 40%.
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when the vaccine is here, march, april, may, we see team more confident i go up from 20 to 90. 60, i'm paying rent and finding employees to work a fraction if it does. in new york city most of these restaurants and moist of these businesses are not coming back. at least texas and california, excuse me and texas and florida can say we kept you going. now take it the rest of the way. stuart: you got it. brian, merry christmas to you. see you again real soon i hope. >> best of luck stuart. see you soon in the halls. stuart: coming up on the program, charles payne, ben dominic, and ric grenell. plus i will tell you why i think speaker pelosi is a liability to the democrat party. that is my take. it is next sofi made it so easy to pay off my student loan debt. (chime) they were able to give me a personal loan so i could pay off all of my credit cards.
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(chime) i got my mortgage through sofi and the whole process was so easy. choosing sofi was literally one of the best decisions i could have ever made because it gave me peace of mind. ...
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>> this is what a virus judge, it changes little by little. it's not moving away from the vaccine. the vaccine will cover it. it's not the more deadly. you know what? if it's already here it will be something we have to contend with anyway. >> the capitalism is the answer but it is what frees people. you work as hard as would like to get us where you want to be. that's common sense. >> 85% of restaurants right here in new york city are closed forever. what will happen? on a plumage will go through the roof and at the end of this pandemic we will be at the verge of an unemployment pandemic. >> we are watching people lose
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their business and their jobs and getting this $600 payoff like it is somehow supposed to cover over that and these businesses don't want handouts peered they want to earn their paycheck. ♪ stuart: that's a little -. susan: it's the holidays. stuart: we will take it. kelly clarkson, you're okay. there you go. 11:01 eastern time, tuesday december 22, check the market. by the way, nasdaq still in the green hitting a new all-time high earlier. minor leagues loss for the s&p but the dow is now down 120 points and now this. why did it take so long? of all years it was obvious that millions of people and businesses needed government help. they got hurt through no fault of their own so why did it take
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months to get help to them? answer -- speaker pelosi who put politics ahead of the national interest. the speaker delayed all deals because she wanted to hurt president trump in the run-up to the election for talk about getting politics a bad name. the speaker turned on a $1.8 trillion deal in october. good heavens, can't have that peered the president mightn't gotten credit. now she's agreed to a much smaller 900 billion-dollar deal because, as she says, it's different now. there is a new president. here's another reason for the delay. the speaker was desperate to bail out those very badly run democrat states, new york, new jersey, california and all deeply in debt. these states are very important to the democrat leadership as the spear would not agree to any bill with no bailout so of course, the virus a package was delayed but it backfired on her. pelosi suffered a big defeat in
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house races and lost her leverage. fortunately, putting party before country was a losing tactic. speaker pelosi has become a liability to her party and is from california, supports governor newsom's lockdown which has been a disaster for so many california workers. so she delays helping them just as she imposes more hardship on them. is that what it takes to play politics these days? on the left, yes. when you throw in an overwhelmingly hatred of donald trump u of a picture of the modern democrats. they will do anything for power. third hour of "varney & co." is about to begin. stuart: i noticed the guy to talk about speaker pelosi and the stimulus a delay. then dominic, cofounder and publisher of the federalist. ben, and my right?
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to think the speaker is a liability to the democrats? >> stuart you did a phenomenal job of summarizing anything. i don't know what to say now because you made so many good points. one thing i can add to this there is a new political morning console to pull out this morning which shows that a majority of voters oppose speaker pelosi returning as the speaker. her path back to getting the gavel is probably going to happen but you can only afford to lose a handful of votes, as you are aware. part of that is a bad bet she made. she certainly wanted to hurt the president and i think we have to say in retrospect she hurt the country. she heard it in ways that were totally undeserved by the small businesses that were so infected by all these policies during this lockdown time. it's totally unfair for them and you know they are not a political actors and they don't particularly care who the president is one way or the other but they were impacted absolutely by pelosi's refusal
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to accept this previous deal in the framework for which was always there on paper. you are now seeing the consequences of that for her and that means she lost a lot of members who were in moderate districts and the like and she now has essentially an ungovernable house underneath her for what she has suggested will be her last two years as speaker. stuart: ben, that's interesting because if she has an ungovernable house she has lost a lot of her power in the house how much is that a problem for the incoming administration which will want something done in house for heaven's sake but how much of a problem? >> it's a huge problem. essentially what you will get out of these next two years is really the only thing that in washington is a bipartisan element and that is spending money. they are going to, i think, throw money at various problems and maybe we finally get an infrastructure bill and a few other things here and there but in terms of advancing an agenda
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the biden administration incoming would be very hamstrung by the fact that in this house they are incapable he of losing any more than four votes and they will end up in a situation where they will be beholden to progressive members of the caucus who are obviously not aligned with the biden agenda when it comes to spending and policies toward business and regulation and the like. stuart: ben, is it's a further problem and i'm sure it is if the democrats do not win both seats in georgia? could i say -- the biden agenda is stymied to be met yes, i think we would see a situation there where essentially everything we would do would be along lines of what the obama administration had to do in their second term approach pen and phone so its executive orders and the approach is advocated through various
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bureaucratic institutions and heads of various agencies and the like as opposed to any kind of legislation to achieve a lot of the different more ambitious elements of a potential biden administration and that is not the kind of thing that makes it very easy to run on when you come to a midterm election and something that worries a lot of washington democrats are now. stuart: on that note i will wish you a merry chris was in hope to see you again very soon. that ben domenech everyone. >> merry christmas to you as well. stuart: treasury secretary steve nugent says stimulus checks could start rolling out as soon as next week. here is charles payne $600 a week in these emergency payments and "the new york times" says the overall package is too little, too late. what is your assessment? >> the packets and the number is not too little but it $600 that is far too little and it is far too late for whole lot of people. it's insulting and you hit on a lot of it that it was all
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politically driven which means that people who lost their jobs over the last three months and people who have had major catastrophes and their families lives in part because of economic desperation and all that can be traced back to nancy pelosi. i thought it was amazing when i first heard that they were willing to accept any stimulus package with no aid for households. some of the other stuff in there we could go on and on probably for the rest of the day stuart with someone stuffy and that junk in thing like the money going to nepal and listen, i know we want to be good global neighbors but i don't know we need to be sending hundreds of millions of dollars to nepal and a billion dollars to asian initiatives and i don't know that the smithsonian even needs a billion dollars. these well-funded organizations and well-funded places like lincoln center they don't need government money but we do have a large portion of the country that unfortunately, not only are they out of work, but it will be hard for them to get to work in
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a place like in california or new york where businesses have gone. stuart: it's a tragedy and that's a fact. i want to change course. you like to invest in futuristic industries, industries and companies which use a change to humanity. good expression, that's big stuff. how about electric cars? that's part of your investment scene, i think. >> absolutely, stuart. what is really amazing -- elon musk got all the attention for a long time for i saw you go heavy on the apple story today. i became aggressive in it as an investor about a year and half ago. i was in tesla and in and out, but i think government will make this happen. it's just one of these areas that will be part of our lives sooner rather than later. when you look at the stocks, a company called quantum escape, right now at the very moment today it's up 28%.
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lumen r is another one of these companies and blink, you got to have a place to charge these things and that's up 10%. that's all today but electric cars it's not about the margins but when were stuck in those cars we will create data and have information and be another information to collect data and sell us more stuff. stuart: here's another group that intrigues me. gene editing companies for tommy moore. >> i absolutely love this spread let's go to october 7 when we awarded the nobel prize for chemistry to two women who wanted to start a comedy called crisper. most people heard about crisper in the movie where it was demonized because somehow these animals at this gene editing thing and they became giants and ripped down the city. know what they're doing is you see these vaccines was happening in this world and how it's changing we could not get this rapid development of vaccines and other medical cures without the knowledgeable things but crispr stock through the roof is
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a lot of other names in that gene editing industry through the roof. they are changing our lives for the next 50-100 years for this is a different type of industrial revolution and i want people to be in it because this is in it for one day or one year but this will be a multiyear event that is -- i'm telling you. it will be a part of our lives and you might as will cash in on it. stuart: stretching beyond my lifetime and that's a fact. we will be watching you at 2:00 o'clock this afternoon on "making money", 2:00 p.m. eastern, foxbusiness. i want to promote this. you got a virtual town hall coming up on the future of capitalism for january 13, given your elevator pitch. >> do you love what we have now? even though it could be better over the like to go back to the stone age? that's my hard-core elevator pitch. reality is a stuart, we are capitalism is under assault, freedom is under assault. they go hand in hand. a lot of people are asleep.
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i do give the left credit that they have put things in place of the last several decades and now they're going to try to cash in and change completely what we are as a nation and i want to talk about that in this virtual town hall. stuart: you will generate 13. thanks, charles. see you soon. >> thank you, stuart. stuart: the markets still a mixed bag here, down from the dow come up with the nasdaq and there is this. bank of america predicts that this new stimulus package which has been voted on, not yet signed, but bank of america says it is going to boost our economy. how much? susan: two-point 27% sober member it's not only the money and stimulus checks but also the deduction and expenses paid by companies and that is something different from other and previous rounds of stimulus and the bank of america being conservative in their guidance for the economy and goldman sachs is really bullish for next year saying we will grow over 5.3% because the last ten year averages only 2%, under three so
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this is almost twice that in strategists expect stocks to go up as well along with the economy in the back half the year and the average wall street reduction is 49% gains in stock markets next year. stuart: i will take that if it happens. my goodness. susan: good for the 401k. stuart: the nasdaq is up 42%. susan: and i was unexpected. imagine 9% next year. stuart: i want to see it not a list, put them on the screen. fitness company way, way up. 12.8%. any idea why, lauren? lauren: it's on the heels of the palatine which is their competitor. palatine deal because they sell at home fitness equipment in this market is booming but okay, up till present today and this year it's a 1145%. i kid you not. much of the delays in the shipping problems that they had has benefited nautilus so that's why they are winter this year. stuart: here's a stock which we
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use to put on deathwatch and we used to play the organ music and i think it was going out any day pregame stop up 21% so what is this about lauren? lauren: the founder, this guy, ryan cohen, took a 13% stake and game stop and pushing the board to update the business model and he says it's outdated. closed stores you need to close and bulk up online and e-commerce. i guess investors are spiting change to happen at game stop. stuart: here he comes. thank you, lauren. former acting dni ric grenell will join us and i want to know who is the bigger threats, china or russia. i know what he will say. china. apple reportedly plan to build their own electric cars. i keep calling it the eye car, i don't know whether they do or susan disdains that the name but we will get into it and a new member of the socialist squad calling it capitalism slavery by another name. former congressman sean duffy here to respond next.
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we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today. that's it. i'm calling kohler about their walk-in bath. [ sigh ] not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage.
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everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call to receive $1,000 off your kohler walk-in bath. and right now we're offering no payments for 18 months. stuart: cnn commentator can pairs of right-wing media to isis propaganda. roll tape. >> this is a process radicalization to cover up terrorism. that is the context of that word and the best word for what happened in america right now is radicalization. that's what it is. that is what this hyped up right-wing media machine is doing. stuart: i will want to bring in -- there he is, former wisconsin congressman sean duffy.
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i don't know whether you know this or not but i was the first person to broadcast for cnn from new york on day one of the network 40 years ago. look at what has happened to it after i left? can you believe that? your comment on this. >> i did not know you started at cnn, stuart. let's take a trip down memory lane. i think when member when isis took over territory they were the ones that started to tear down historical sites that were 3,000 years old and in america it's the left of that is tearing down statues all over our country to our great founders and a great history. if you look at isis they are the ones that use violence to gain power or if you look at the left and black lives matter and the riots and the beating up of people they disagree with and looting and burning that's the left doing those same things. brian seltzer, i don't get it but i think that's a cover for
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what the left is doing but when we talk about radicalization, stuart, this is happening in american schools i leftists. their anti- free speech, and tight capitalist and they are anti- anti- religion, anti- constitution so at what point do we stand up and call the left-wing media a liar and called the left out for doing exactly what they're blaming the rights for print one last point, they're trying to use donald trump supporters for saying this election was rigged. it wasn't fair and there is a lot of evidence to that point in my home state of wisconsin there was cheating that went onward was there enough to overturn the election? i can't say that but it is right for us to call out inequities in elections to make sure there free and fair. whoever got the most votes of legal votes wins. stuart: i want your comment on this. a new member of the socialist squad, jamaal bowman is calling capitalism quotes, slavery by another name. to be the democrats have just become basically socialist
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party. there's no way around it. that statement, capitalism is the form of slavery, that is insulting and ridiculous and i want your comment on it. >> at this point they are proud of socialists but shy communists. that is where their hearts are out. if you look at america are people leaving texas and going to california? no, they are leaving the socialist state of california and going to freedom of texas. around the world whether white, brown or black you leave communist socialist countries and come to america. note the americans leaving this country and going to communism. capitalism, as you know stuart, and we've lived his greatest opportunity for freedom and upward mobility and self-determination. that is what we want to preserve in this country and every time the socialist model has been tried it's failed. at least 40 quality but it's a quality of despair and more members have to call out these left-wing stupid nut jobs for what they are, stupid policies
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that have never worked a. stuart: stand up and be counted because the time is now. sean duffy, you're all right, merry christmas to you and your wife and your kids. >> merry christmas to you, happy year at foxbusiness. stuart: tanks, sean. see you soon. now show me big tech. we used to quote this every day all five or six of them, everything will they but they've dropped off a little bit recently. we are still quoting them occasionally but apple right there, amazon, facebook, it's a mixed bag today, mostly down except microsoft and apple, both are out. mommy get back to apple for a second. we hear that they're planning on building a self driving car and that is a big deal. i keep getting the expression the icar, susan doesn't like that but when do we get to see the i car. susan: i think it's too obvious. great, clever, but 2024 is apparently in the applecart is launching and self driving, brand-new battery tech according to reuters and that is the key
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is electric car batteries. that is the reason over how we can reduce these electric car prices may be on par with the gas power ones that are currently electric cars are 20% more expensive and apple has seen a shift in the market and personality of government, governor being one of them illustrating this that the world is moving to electric and a big opportunity but tesla has jumped 70% this year, it's presented thousand% and project titan might be something new and a new industry to again grow sales and profit in the new future. stuart: two and a billion dollars in cash and i think it's right that for that money to be transferred to other industries to develop those other industries. susan: innovation and we have had these 13 years or so and people complain where is the innovation at apple so this might be an opportunity not only to showcase the technology and expertise but we can go into other fields and other industries as well.
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it's not like we not done that by the way but i think is unfair criticism because if you think about the air pods that's up fortune company. stuart: that is innovative and they do it with capital so now we have a former tesla air b&b and space ex-employees all getting together to create urban escape pods. lauren, what are they, how much do they cost and what are they for? lauren: they are vacation homes, tents, pots, whatever you call it, you can fold them up and plant them anywhere and they are made by a startup called juke and they cost $17,500. if you want one preorder now and you can get it starting in march. it's futuristic looking and it is tiny only about 100 square feet but it could fit a queen bed, furniture and you could set them up wherever you want so if you want to get out of the city you can go to the wilderness and
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sleep in that. stuart: there is a market for that and there really is. so convenient. lauren, thank you. it used to be a place for movie premieres and celebrity sightings but now look at that, 75% of a hollow weed boulevard is boarded up and we got the story for you. we showed you this, giant 6-liter bottle of champagne for sale at cosco and i want to know if anyone is buying it. don't go anywhere. third hour of "varney & co." is rolling on. ♪ ♪ just like your fingertips, your lips have a unique print. ...and unique needs. your lips are like no others and need a lip routine that's just right for you. chapstick® has you covered.
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stuart: we've got to read into this 900 billion-dollar covid's stimulus bill. it appears to deliver big wins for nascar and beer. ashley, explain. ashley: and many others. they will get through tax breaks but quickly, stuart, let me get to the restaurants which we followed so closely on this show. the bill does provide for an attorney 5 million to small businesses but the restaurant industry didn't get the 120 billion-dollar specific package it wanted but instead it allows restaurants to apply for bigger ppp loans and also gives greater ability or flex ability
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on how small businesses can spend their ppp money but critics say the relief just not enough to save the restaurant industry. among the nearly 80 tax breaks in this legislation, beer, spirits and wine producers will get a two-year reduction in federal excise taxes worth a whopping $4.2 billion by the way, food and wine industry defended the tax breaks saying they have been one the hardest hit sectors and deserved more. but also included it provides tax breaks for a wide range of businesses and everything from music venues to yes, nascar, motorsports, racetrack, they get tax breaks and i just had to throw this in print senate majority leader mitch mcconnell says he has special rice ups for racehorses. it's a tax break that goes down very well in his home state of kentucky of course. [laughter] stuart: who will read this 5,000 pages? show me constellation brands.
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we're showing you this because they make corona beer. come back, actually paid did the coronavirus hurt their sales? ashley: well, look. it's a public relations nightmare when you do when your product is the same name as a virus that led to a worldwide pandemic but it turns out that the sales of corona beer has held up pretty well constellation says the brand popularity and familiarity helped whether any potential damages sales and have been on par with last year but the company says it did monitor consumers sentiments about the year but found a few people were associating the brand with the virus that causes covid-19. cheers. stuart: it is beer after all. get real, ashley. [laughter] ashley: exactly. stuart: i will show you times square were nearing these subregions are going virtual this year. the virus forcing people to celebrate at home and of course
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times square bistro you frequently utterly deserted but lemme bring in anna. >> hello there, stuart. stuart: glad to have you on the show. you represent the champagne company so we will not be drinking much same pain in bars and restaurants on new year's eve so what are you doing to encourage us to drink more champagne at home? i think you're doing something called a wish shop, explain. >> yeah, absolutely. we have come together as our brand to launch the new year's eve wish shop which is an online destination really meant to help people elevate that at-home experience. they can't go out so how can we make it extra special? we all want to say goodbye to 22 days so what we will be doing is offering a chance for people to win a celebrity drop on their at home experience virtually and either with [inaudible] will do a great cocktail experience or
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darren chris who will give you a serenade or when you can win a chance to make a unique wish that will bring to light next year and then peru's cocktail ideas and anything to really make this one special. stuart: is this going to go out on new year's eve? the wish shop event, is new year's eve. >> it's an online destination that is up right now and launched around thanks giving so really getting time to get people to enter in for their chance to win and we will be announcing this winners on the 27 and from there essentially if you win we'll get a car from tracy ellis ross and she will make a cocktail with you. in addition we want to give a runway for people to help us support a restaurant industry which we been doing all year in the program is going to get significant donations to the educational fund in the pockets of restaurant workers who are
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suffering especially through the winter. people can donate on the site as well and we will match up to an additional hundred thousand dollars so we are hoping people will get involved. stuart: we love to see the restaurant business get some help and we are glad you are doing this and we wish you the very best of luck, moet. >> thank you for having me. happy holidays. stuart: and to you too. now, look at this. hollywood boulevard. i've got to say that thing is boarded up. lauren, i thank you got some idea on how many of these businesses on hollywood boulevard are boarded up. how many? lauren: at least temporarily three quarters of them. can we call this the west coast times square? this is hollywood's busiest block and where this liberty stars are and they pose in front of the big theaters and now if you find the performer they got no one to perform in front of and the theaters have nothing to show. you won't find a visitor there taking pictures with the stars
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on the walk of fame and this is the destination that normally gets 10 million towards the year. that has all but dried up in the businesses that are boarded up are so worried that when we recover some of them won't be able to come back. stuart: the changes that are taking place before our eyes. thank you, lauren. now take a look at this. antilock town protest clashing with police outside the oregon state house paid big deal. jonathan hunt is they are, what was behind this? reporter: stuart, throughout the summer officials were attacked physically and verbally from the left by groups including anti- fall and now postelection they are being attacked physically and verbally from the right by groups including the proud boys and patriot prayer. in monday's disturbing groups of protesters somewhere arm to smash windows and broke into the state capitol in salem while politicians were debating covid
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lockdowns and economic relief. troopers attempted to push the crowd back after some had made their way inside and according to oregon state police quote, os p troopers were sprayed with some kind of chemical agent on two different occasions and they said 41 -year-old man and you see him there was taken into custody as a result of at least three others were also arrested as troopers declared an unlawful assembly and fired pepper balls to drive the protesters back. the protest with many taking part unmasked was organized by the washington based white wing group patriot pair, apparently to protest covid restrictions and joe biden's victory in the presidential election. >> we need to tell the rest of america what needs to happen. this is the bravery. this is the unity we need.
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don't lose faith. don't lose hope. we will stand strong here today. >> officials in oregon thought they might get a break from protests postelection and it seems that stuart they were mistaken. only the political motivations of the protesters have changed. stuart. stuart: i got it, jonathan peered thank you. next, disney. he could be jumping into politics. that is bob iger reported he being considered for ambassador to china. what does former acting director of national intelligence ric grenell, what does he think about that? i ask him on the show. three and half million packages delayed every day so which service is the most likely to deliver in time for christmas or on time, shall we say. we have the answer after this. ♪ ♪ it's a thirteen-hour flight, that's not a weekend trip.
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stuart: did not know this, millions of packages delayed every single day and grady trimble is in chicago but here's the question, if i won my delivery to make it in time for christmas which delivery service do i go with? reporter: right now ups and fedex are doing the best in terms of on-time delivery but stuart, by now if you procrastinated this along most of the shipping deadlines have passed so you might be out of luck either way. you mentioned this, the number of packages being delayed three and half million delayed a day or two every acetyl day and that is according to ship matrix and this is, course, because it's a record-breaking year for online orders and shipping this time of year. out of the postal service of fedex and ups we mentioned usps is the worst performing and that is partly because fedex and ups turned away some e-commerce customers so now they have no choice but to come to the postal
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service and despite such high demand this year the u.s. postal service is still losing a lot of money and the most recent fiscal year and lost more than $9 million so we are taking a look as well and what president-elect biden wants to do with the postal service. it just got $10 million for the federal stimulus package that is direct funding, as opposed to a loan. biden wants to give it more funding despite the fact that it's losing so much money and he also wants to do away with the requirement to prepay for future retirees healthcare benefits which is part of the problem and the u.s. postal service has been struggling so much financially and of course, to do all that stuart he will need help from congress but very different plans from biden compared to president trump. one thing of biden does not plan to do is privatize the postal service which many republicans for years have been pushing to do. stuart: we will take that. grady terminal in chicago peered thank you. see you later. coming up on the show shortly
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former acting intelligence director ric grenell pete here is the argument. who is the greatest threat to the united states? is it russia but that's what we hear from the democrats or is it china? that's what we will hear from ric grenell. he is on the show after this. ♪ ♪ the usual gifts are just not going to cut it.
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we have to find something else. good luck! what does that mean? we are doomed. [laughter] that's it. i figured it out! we're going to give togetherness. that sounds dumb. we're going to take all those family moments and package them. hmm. [laughing] that works.
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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ stuart: let's get into a contentious argument, shall we? my guest next says the democrats have hoodwinked the public into thinking russia is more of a threat than china. come on in, former acting director of national intelligence ric grenell. sir, mr. ambassador, i want to call you that, make your case that china is the big threats. go, sir. >> look, we don't want to undercut russia as a problem. russia is a problem and they certainly are responsible for hacks and misinformation or we could call it propaganda. but we all know that russia does this propaganda and misinformation campaign. we know they hack. with the public has been told
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for too long is that engagement with china has worked. there lies the problem because the public has really relaxed on a threat from china and china over the last year has become a crisis for american business. this is for american academia, for the american public. we have seen too many times the beijing line spewed by the democrats that you should look over there, look at russia. russia is the bigger threat as china has started to rise. they manipulate us at the un and they pretend to be a permanent member of the security council and yet they walked down the hallway and they organized with the developing nation and create and lead the policy for how the un pays for developing nations and they are one of the primary benefits of that policy. we have allowed them to really
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hoodwink not only the american public but the international community. stuart: we learned a little about the major leagues hack and apparently by the russians into our treasury and commerce departments and can you tell us more about that? >> i don't want to get into specifics, stuart. let me say this because i think this really is important. we have to remember intelligence is an estimate. sometime the estimates are right and sometimes they are wrong. these testaments are designed to take a little piece of raw intelligence that we hear and think of this as your friends at telling you something and you have to evaluate it. we take this raw intelligence and we put it through the intel community experts and they come up with an assessment and so they get a judgment on these pieces. it's important to not overemphasize the little pieces that you hear until the
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intelligence community has a intel wide u.s. until wide assessment and that has not been done yet. and so, we have a problem in the intelligence committee that the russia team for instance is very political and very quick and talk a lot when they get run -- raw intelligence. the china team is the exact opposite. they are very judicious and they are slow and not political and don't leak. we had a problem over the years where the russia team has been much more aggressive in the media in washington have been willing to take these little pieces of raw intelligence that are not assessed and that are not thought through and blow them out of proportion. this is all very important and i go back to how i started here is that intelligence is an estimate of the public and the media need to understand it's just an
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estimate. stuart: could you wrap it up, ric? answer this, is america in a precarious position in terms of intelligence and being hacked? >> no, i think we have some of the world best intelligence officers. the career intelligence officials the work for the united states are very capable people and very committed. but like every single industry we have bad apples. we have people that are willing to politicize the intelligence process and i will say that we also have a crisis and easy in terms of those covering intelligence have proven to be very political and they need to slow down for it i will give you an example, we saw on cnn for a very long time that kim jong-un was brain-dead and we knew that wasn't correct but we couldn't go out and correct the record. now we all know that is not true but we have to ask yourself, why did cnn run for so long with
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this narrative and they kept saying they have sources. the second example is 50 intelligence, former intelligence officer signed a letter right before the election and they said that hunter biden's laptop was russian disinformation. they had not seen any assessment and they did not have a briefing but yet 50 former u.s. intelligence officials were willing to go out, politicize intelligence and pretend like it was russian disinformation and it wasn't. stuart: last one if i may. do you think and i don't know whether you can answer this one that are we in a position to do to them what they do to us? >> i'm not in a position to answer that. [laughter] stuart: it's a shame but i'm guessing. ric, -- >> let me just say stuart, i can say the republic should be incredibly proud of the work of the career intelligence officials. they are incredibly capable and
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we have enough money but we've just got to be able to push it in the right direction and we have the best technology in everyone should be very pleased with the intelligence community. we've just got work to do to get rid of the politics. stuart: i take that as reassuring. mr. ambassador, ric grenell, thank you for being with us. we appreciate it. thank you. >> thank you, stuart. stuart: quick check of the markets. i see a lot of red, down for the down 1625, down the nasdaq, down snb, back with more after this. ♪ thank you for going the extra mile... and for the extra pump of caramel. thank you for the good food... and the good karma. thank you for all the deliveries... especially this one. . r .
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stuart: good king wencelas, when the snow lay round-about, deep and crisp and even. we played a short clip of that for you agains because we got this email from one of you at home. susan li cannot let stuart's christmas caroling cardigan performance go unanswered. his performance was suspiciously aired during susan's absence. what do you say, susan. can you do any better? go. >> i was petrified. "jingle bells," "jingle bells," jingle all the way? does that work. stuart: more than one note. we'll let you off with that. >> i need a sweater like yours. stuart: you can have mine
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foresure. i think you're a good sport. it was a freight show. susan: time for group karaoke with the producers, yeah. stuart: 10 seconds with neil cavuto. no over time breach into his show. five, four, three, two, one. hey, neil. it's you. neil: i can wait. i can wait. stuart: sure you can. neil: whatever you got. stuart: not going to happen, neil. neil: not going to happen. got it. stuart: see ya. neil: thank you, guys. great voice, stuart. lousy sweater, great voice. as you heard congress went ahead and passed the relief package but we got a congressman who is on, doesn't like the spend being package attached to it. doesn't like the better than 5000 pages had to be read in a matter of hours. even if you're a speed reader, that is tall task. congressman mark green on that.


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