tv Varney Company FOX Business August 3, 2021 9:00am-12:00pm EDT
delivers quality candidates matching your job description. visit indeed.com/hire time for new reading glasses? go to readers.com! choose from hundreds of styles and colors, for under $20. and now, enter this exclusive tv coupon code at checkout to save up to 40%. that's readers.com >> stuart, take it away. stuart: that was quick. good morning, everyone. there is really mass confusion about mask wearing. mask mandates are returning in some places. the messaging from the cdc in the white house is not clear. that confusion at this point is not hurting the markets. we have another rally, fairly
modest, starting with a rally. it disappeared. at "the opening bell" this morning, the dow will be up 100 points and the nasdaq 35. looks like another day when we might hit new highs. china has launched another round of restrictions, this time, videogame company, the spell out rows beyond china companies. it is dragging down the china stocks as well. no one knows how far this crackdown will go, china wants to control the information in the capital, the money that these companies already have. bitcoin down this morning, the $1 trillion infrastructure plan includes wording on crypto regulation and taxes, 38-numfour is your bitcoin quote. one more financial indicator, the yield on the senior treasury still below the 120 level helping big tech, down to
one.16%. this afternoon president biden goes to the east room of the white house to deliver his latest covid message. he needs to clear up the confusion. florida says no mask mandate and no lockdowns. despite the rise in new delta cases. but louisiana has reimposed a mask mandate and so have 6 counties in northern california. that is confusion. at the olympics, bronze, simone biles, we will cover it all, august 3rd, "varney and company" is about to begin. stuart: after missing most of the events, simone biles competing in the balance beam.
>> the last a little ecstasy are compete and there's a lot of build up to this because this is her only individual event, you see her bring some sort of metal home. stuart: it is a good thing to perform like that. we know that apple, this is interesting stuff. apple was and still is the most valuable company in the world. in a report that apple is the most profitable. >> does that surprise you given how many iphones there are around the world? stuart: we are not talking a profit margin but gross dollar volume. >> doesn't surprise me reported last time.
the most profitable company on the planet. $81 billion in sales from that quarter. this is the yearly profit, according to fortune. the results fin sales. $21 billion, record spring quarter from apple, $194 billion in cash and the balance sheet. wasn't just apple, look at the big tech companies. america and investors should wake up to this at a chart of how much the companies made in profit that totaled $75 billion in amazon, google, facebook and
microsoft. a value of general motors in 3 months to these technology companies. stuart: speaking of big numbers. >> great thing for american innovation. stuart: that money goes back to innovation. mister bezos, the richest person on the planet. >> he isn't according to forbes. the richest man on the planet right now. stuart: zuckerberg. >> according to forbes pushing $190 billion and jeff bezos number 2 because of the amazon selloff, buying opportunity, march of last year, elon musk, bill gates is fourth and if you look at bloomberg, correlated
this, jeff bezos is number one, the tesla rally filing yesterday, 5%, bernard arnaud is third but in this list, they sell physical goods, a high profit margin. technology kings competing against old-fashioned good. >> tangible things creates the fortune of $190 billion, didn't know they allowed billionaires in france but really they do. >> kind of all the same after 1 billion really. stuart: can i confirm. let's get back to the markets. right now we are looking at a gain for the dow the s&p and the nasdaq when the market opens in 24 minutes time. look who is here. michael lee. we like to call him the super bowl. this is the rally rolls on,
profits are great, feds not backing away. is that how you see it, that's up to more and more rallying stock prices. >> like we've been saying, you've called me the super bowl, it is a grind higher. it will not be straight up, days like yesterday where small selloffs are your entry points and coming into this quarter, analysts looking at 53% earnings growth, and then they will looking at 62% earnings growth but we are talking 85%. also impressive, revenue growth is up 23% year-over-year, you can do a lot with money once it comes in the door. the revenue growth is the strongest sense it was tracking in 2008. they are going out for the rest
of the year, and until the fed systematic action to tighten. >> give me a target how much i we are going. >> we can end around 4800. and as a couple thousand points are down. stuart: 5000 for the us and be, 5000 next year and the s&p. we believe it at that. now this. cdc data shows 70% of adults in america had at least one shot of the vaccine. we are shy of the fourth of july go. the us 7 day moving average,
63,000 new cases per day. then look at this headline from the new york times that reads, quote, americans suffer pandemic whiplash have leaders struggle with changing virus. and evolving virus and ever-changing pandemic -- americans are skeptical of health advice. doctor, the reversal by the cdc says to wear masks indoors even if vaccinated. do you think that was a good call. it was confusing to the rest of us. >> if it was confusing to me i can only imagine what it was like for everyone else. confusion is the word but the reason people are confused as we are avoiding mandates and when we leave people with the freedom or liberty to make their own decisions a lot of people are saying i don't know what to think anymore.
it is useful to go over the most important points about masks and vaccines. we knew in december the vaccines prevented hospitalization and death. that is not changed. what did change was in may the cdc said not only do we prevent hospitalization and death but we can also prevent you from spreading the virus if you are vaccinated. when i saw that information at the press release the words that i used to the people i advise is that seems premature. what happens in july in provincetown there was an outbreak of covid, 469 cases, a lot of patients and other people were vaccinated and people who are vaccinated had just as much virus in their nose as people who were unvaccinated. that doesn't mean we are equally contagious. vaccinated and unvaccinated. it means there's a lot of i was in people's noses and given the national uptick in cases the cdc said we can't sit on this information. we got to recommend masks in
areas of high transmission. the fundamental question we don't know the answer to is asymptomatic vaccinated people spreading the virus? that one study the cdc used could be rebutted by another study in singapore that says people who are vaccinated have a lot of virus in their nose but it disappears so quickly they are not really contagious. i appreciate the confusion. i can tell you i'm constantly trying to stay updated with the information because it changes so much but that is one of the beauties of science. it evolves. we are learning all the time. my best point is in the northeast we still haven't seen the delta variant really run through the community. it is coming this fall. stuart: let's see what the president has to say this afternoon. appreciate you being here, see you soon. hard to keep up with all the
changing covid guidelines. very confusing. it is causing serious division in our society. you can hear more on that in my take at the top of the 10:00 hour. we are looking at the return to the office. our next guest is a formal linkedin executive and he says employers should be prepared for workers to leave. a whole new world. we see some green. varney continues after this. [sfx: psst psst] allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! all good
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stuart: four tops, that is san francisco, 55 degrees. san francisco is home of facebook headquarters. they updated their covid guidelines. what they require? >> going to the office, you get to wear masks if you're going back and regardless whether you've been vaccinated or not. the policy goes into effect tomorrow. facebook is targeting early september return for 50%, apple and google, silicon valley, returning to the office in october at least and google mandating a vaccine for return to work. last night i heard from mcdonald's reinforce the mask mandate to all staff and customers going to those restaurants in areas of higher substantial transmission. may be we are going backwards
instead of reopening which we should be doing in the back half of this year. stuart: we are going back to or 3 steps back. the washington examiner will require vaccinations for all employees. workers must provide proof of vaccination by august 9th, the washington examiner. the author of the new book work quake, embracing the aftershocks of covid 19 to be a better model of working. steve, you say, i have seen the blurb, you say employers should prepare for workers to leave as opposed to retaining those workers which is the workplace changing that much? >> it absolutely is and it is changing that fast.
this started before covid. the last we 10 years we've seen a substantial decline in how long people stay particularly people between 20, and 35. they are staying on average in the united states 2.8 years. in my burke work quake, organizations have to reconcile that and build strategies to create value in a more fluid world of work where people are leaving faster than ever have before. stuart: i thought you meant the employer says come back to work and the employer should say according to your book here's how i am going to help you to leave. it is the other way around. you are seeing the workers themselves are in favor of leaving especially younger people. that is a result of the pandemic. >> correct. in an uncertain world of work with the employees are seeing is a shift in how they are relating to work. i need to take control of my situation and there's no
promises today. in an uncertain world of work where things are changing faster than ever i think what employers need to recognize is job security is switching from one place to moving and building new skills and a bigger network. stuart: i see the pandemic as offering opportunities, it opened up a whole range of opportunities rather than liabilities. do you see it in a positive way? >> completely agree. with the gig economy, more ways of earning a living than just working for one company, you are seeing that in the hospitality industry where wages are rising and a lot of people who lost their jobs are not returning because they see more possibilities today. stuart: give me a rough idea a year from now how many people will be working remote, full time on remote, any idea what proportion of the workforce?
>> we have seen according to linkedin data a doubling of what used to be in terms of job postings that say remote work, it is more than doubled. i will say leaders and organizations take a while to go for big changes like this but 35 to 40% of the workforce is going to be remote when we were 2% to 5%. stuart: that is a shock. 35% to 40%. you saved the best the last. thank you for joining us. i will read your book. good stuff. appreciate it. on a related note, fitness clubs like equinox, soul cycle, updating their requirements. >> they are saying gym members, staff, will be required to show proof of vaccination before you step foot in those facilities, this will start in new york city, and the same day governor
cuomo asked bars and restaurants to require proof of vaccine. the anecdotal story i told you yesterday, trying to book a table at one of the restaurants in new york city, if your party is and vaccinated don't bother coming to the restaurant and require proof at the door. stuart: do you have to wear a mask when exercising? >> i don't believe so that prove you've been vaccinated to get in. stuart: let's ramp up financial coverage with a big coin quote, your at 30, medical stuff. bitcoin 30-numfour as of right now. look at futures, they go up. green on the stock market. we will take you to wall street after this.
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mike murphy. we are at all-time highs or close to it. what happens next? >> great question. is there enough here in the earnings season to carry it forward or is this correction everyone is talking about started by the delta variant, is that what is coming? the important thing is it doesn't, we may have a correction. we may not get new highs immediately and we may. for investors watching at home don't get caught up in the headlines, covid and masks come earnings are strong enough, stay invested and if there is a correction look at any correction in march of 2020 is an opportunity for allocate, the market is in good shape and we will continue as long as earnings are as good as they've been. stuart: i'm looking for dark clouds and one that i see is
rise in the rate of inflation or doesn't sophomore fadeaway in the fed takes action. that would be a dark cloud. stuart: make no mistake. if you have the fed changing their staff and we move away from easy money you have to step back and reevaluate where you are. stuart: my problem is how do i know what the fit is doing? i'm not a tea leaf reader, i don't look for every nuance, i don't do that. i can't interpret what he's got to say. how do i know? >> if and when they start to tighten that doesn't mean go to cash or run for the hills or
hide under your bed but reevaluate the portfolio. you might have to look at big tech growth names and see if that is the best place for your money. it is not about understanding, it is about trying to stay, the best part of the market. go back hundred years, the best place for your money and my money is the stock market. those big names, stay long for now and if the fed changes their tune maybe you need to belong, more cyclical or a different sector. timing the in and out of the market doesn't work well for most people. stuart: in the last 10 days with all these big tech earnings reports have you bought any big tech stock? >> i have not. just being fully transparent it is more than i'm traveling and being in front of the computer
but i'm watching amazon. if there was a major pull back i would want to allocate money to them. i'm looking at apple above 150. that is something i would want to add more to. uber although it is not big tech, 60-44. stuart: just in time for "the opening bell," we are off and running. off we go. we have an 80 point gain, a 12:45% on the upside. the s&p is higher almost a 12:45% higher in the nasdaq composite will change. we are up about a 12:45%. robin hood, very much in the news stock.
i'm jumping the gun. big tech all of them have opened across the board still -- >> below 120, the lowest yield since february. stuart: the yield on the 10 year 116. let's get to robin hood. they are opening higher up 2 thirds of one%, $37 a share. >> $65 million -- stuart: that will do it. stuart: put it in. some companies reported before the bell, start with ali baba. >> check it in, the jab and all. better earnings this morning and profit at ali baba but the real story is the beijing clampdown, trying to reassure investors with a $150 billion shared by back, stock is down.
stuart: under armour. >> the top and bottom lines, raising sales guidance for the year and they have been lagging a lot behind nike. stuart: they are athletic -- what is the word? >> athletic apparelmaker. stuart: is a word that i can't quite reach. move on. what is the next one you are looking at? >> eli lilly. a big drugmaker. people don't need therapeutics. stuart: you are looking at clorox. >> last year, hard to find any clorox wipes. that is tough for this company. this company said we fell short when it comes to sales and profit. the outlook for the year.
2020 for clorox. stuart: we were wiping everything down. not so much now, 88 points. >> everything is being wiped down now. those trends continue, even though it is not translated for covid i know. stuart: videogamemakers way down this morning becoming a target in china's crackdown and we don't know when it will end. >> 10 sent is the largest videogame distributor in china and part of this article from the propaganda machine, the government calling the addictive and comparing it to opium. stuart: opiate for the brain. >> they are taking down these game publishers and we have taken him to interact of the
labor titles, weaker outlook than anticipated and we will look at what activevision blizzard does, the pandemic been might be slowing down. and mobile games. we when china wants control of information and control of capital. >> you are hurting yourself in the short-term. it is long-term positive, great for the ccp. stuart: it is a political thing. companies want to keep control, economics take second-tier. that is consumers. do you know about simon property group? here's the question. they just reported the sales in malls come back. >> mall and out of traffic is back, retail sales during june
comparable to june of 2019 levels near 80% from a year ago and they hope more people on leases with the improving trend. stuart: i haven't been in a mall in probably a couple years. >> do you go a lot? i thought you were a stay-at-home guy. stuart: i'm intrigued at more traffic. i, that is your name, the other chinese electric startup raising money in hong kong. how much and why? >> more shares give people less ownership in the company. we are looking at $2 billion, what chinese electric cars rival did as well. it hasn't raised money yet but these three are playing catch up and delivered more cars this year in 7 months than all of last year with record deliveries. stuart: people put money into any -- american money into any chinese company.
>> raising money in hong kong so that is different when you are closer to the mainland. stuart: on electric cars tesla, somebody -- a new high target. >> 855 and piper reaffirming their call of 70% upside on tesla. >> 785. >> it could be 70% upside and we saw tesla type rally because of that infrastructure bill which has $7 billion earmarked for easy charging stations and the government will be infrastructure for you, that is a benefit for a country like to the. >> it is called an assist. one of the biggest winners of the dow 30 home depot, merck, ibm, j and j, big winners and all about stocks.
the s&p 500 winners, look at them go, polo, used to work for them. 8.5%. nasdaq winners, show me please. any day now. there is. nvidia. we always talk about $200 a share. dollar tree, vertex, i know nvidia. l brands is no more. the new name is bath and body works spinning off victoria's secret instead of selling it. >> morgan stanley says victoria's secret is a turnaround store that could jump as a standalone company by 65%. l brands is doing well with
candles and body wash. a lot of self-care during the pandemic locked up, not so much with victoria's secret which lost relevance. i love looking at giselle and heidi clue in place and set number away but in recent times it is more body acceptance and body image. stuart: it is still called victoria's secret. case closed and move on. the head of the teachers union, randi weingarten, thinks every child should mask up this school year. watch this. >> universal masking is going to be very helpful to keep the unvaccinated safe and keep open. stuart: is universal masking for little kids the way to keep schools open? rhonda mcdaniel shares the republican party she is a mom, and ask what she thinks. new york college student
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never file so workday -- stuart: i know how to get into workday. let's not go further. >> it is pretty substantial. stuart: square, didn't they have a great day yesterday? >> they bought $29 buy now pay later company in australia but also with results at the same time they announced a deal and a had stellar results and as a result, they outperformed $343. and raymond james called the market performance as well. and cash out, 40 million monthly transactions done, monthly visitors. stuart: square had a fantastic week. another one that i miss.
the republican study group calling the trillion dollar infrastructure bill trojan horse for democrat socialist spending and green new deal initiatives. america low joined me now. big picture question. can you live with this infrastructure plan if it goes through as is can you live with it economically? >> if it goes through as is i'm not sure what as is means. it is a work in progress. stuart: $550 million of new spending. can you live with it? >> there is good and not good in this. i'm leaning against it. i want to acknowledge there is good stuff. half of this bill is good infrastructure. that i can determine without legislative details. 30% of it is too green for my
taste. this should have been taken up and other committees. there was never a regular committee process, the green new deal story has never been explored carefully. yet there is no corporate income tax in this, but it's all going to be put back into the budget reconciliation bill, the dynamic scoring for growth and democrats try to put income taxes, capital gains taxes, into the reconciliation bill. it will drown out anything that might happen that was good on the growth side, lots of details, my basic point is the
budget reconciliation bill is the big thing here. infrastructure bill, that is the bill the left wing of the democratic party wants to use to transform america away from free enterprise towards state planning and regulation and green new deal and socialist spending. that reconciliation bill that must be stopped if we are to continue a good economic story. stuart: am i right in saying speaker pelosi says you've got to reveal the infrastructure bill and you have to have the $3 trillion bill, you got to have them both. that is what she is saying. >> she threatened not to take up infrastructure unless and until the senate sends a budget
reconciliation bill and that is too bad but that is the game plan. i don't buy the stuff. the gop senators did the best they could. there are some pluses here. there is infrastructure in the public wants infrastructure and in the long run if you just had the infrastructure bridges, roads, tunnels, water, etc. it would improve the economy a little bit. but on the other hand, the green stuff, there's environmental social justice marks in here. lots of subsidies for green new deal stuff. i could be had if they would come out and buy me a nice new tesla. and the subsidies are doing
that, and the stock -- stuart: i am dying to see you in a tesla but don't expect to see at any time soon. >> the reconciliation bill is the key point. stuart: kudlow weekdays at 4:00, foxbusiness. then there's this. after 27 years bill and melinda gates officially divorced which i hate to get into these gossipy details but go ahead. >> they made the announcement in may. the divorce is final in 3 months. i don't have experience in this but isn't that fast. worth $140 billion with no details on finances. melinda walked away with a good chunk. mckenzie bezos got 4% of amazon
stock in her divorce from jeff bezos. melinda probably still has ownership of stock. they will share oversight of the bill and melinda gates foundation to see if they can work it out. stuart: if they can't? >> melinda has to go. stuart: thank you very much. look at this op-ed in the wall street journal. masks are covid distraction. the cdc should scrap confusing guidance and make vaccination the only priority. bill mcgurn joins me in the next hour. the buffalo bills may consider a big move, we will tell you where they may be going next. ♪♪ largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast.
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it is -- they didn't specify which air force but the port authority of new york. >> the airport, not here lines. >> airport, did a lot of high-priced food and beverage items. i should note the port authority did approve an increase of 10%, $30 for summer al seems way above a 10% increase. stuart: the buffalo bills, this is a blockbuster. >> it is sad. they might be looking at austin, texas, the new stadium is up for renegotiation and it could expire but of austin says we will give full funding that might look attractive and other cities looking for nfl franchises, orlando, sacramento and portland but do you want to
see the buffalo bills turn into the austin bills, doesn't roll off the tongue and i want these franchises to say where they are. stuart: i'm distracted by dow industrials. all of them are down. i'm looking for a reason why this happened because literally happened in the last couple minutes down 116 on it out but just ahead bill mcgurn, rhonda mcdaniel, jason chaffetz and joe concha coming up. a headline in the new york times, americans suffer pandemic whiplash and leaders struggle with the changing virus. my take on that is next. ♪♪ well, geico's 85 years isn't just about time, you know. it means experience. i mean, put it this way.
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♪. stuart: the cars. i rather like them back in the day. good morning, everyone. 10:00 eastern. straight to your money please. this is a reversal folks, i'm telling you. literally a few minutes ago it was all green. now it is all red. the dow is down 100. nasdaq is down nearly 50. let's see the 10-year treasury yield. has that moved? it has moved down. i would have thought that would help the market but apparently
not. it is 1.15%. of the financial companies aring biggest drags on the dow. they are all down, jpmorgan, goldman sachs, all on the downside, the whole lot of them. bitcoin is also lower. it is at 38,500 as we speak. this is coming to us. i don't think this is the reason for the market turn around, it is fascinating nonetheless. it is a step backwards. new york city is expected to require proof of vaccination for indoor dining and gyms. according to "the new york times," the move would be a step backwards if it did actually happen. we're waiting for the announcement as we speak. factory orders, new numbers coming in. what do we have? susan: better read than anticipated from the factory floors. we're looking at june number of factory goods of 1 1/2% up. economists look for a number of just one. however deceleration from what we've seen in may which was a much stronger number above 2%.
stuart: deceleration the word of the day, isn't it? susan: better than anticipated. stuart: we got it in there, susan. thank you very much. now this. >> do you know the masking rules where you live? it is such a mess of requirements, recommendations and mandates, they change so fast it is rao he will le hard to keep up and that is the problem. confusion reins, that confusion breeds anger, skepticism and serious division. i'm not talking about disinformation. i'm not talking about conspiracy theories. i'm talking about the ever changing guidelines, the messages we receive from the cdc and the biden administration. they're just not consistent. for example, in may the cdc said it's okay for vaccinated people to go without a mask indoors and outdoors. last week a complete reversal. now it's wear a mask, vaccinated or not, in places where the virus is spreading rapidly. okay, do you know if delta is
spreading rapidly in your area in you probably don't know that. what constitutes spreading rapidly. what does it mean? local authorities are responding very, very differently. florida says, no mask mandate. no lockdowns. louisiana have gone back to masking. so have six northern california counties. talk about mixed messaging, former president obama celebrated his 60th birthday this weekend. 500 guests will attend his party on the rather small island on the island of martha's vineyard f it were trump it would be a superspreader, wouldn't it? the relaxing breakout summer didn't turn out that way. mass confusion what exactly we're supposed to do. sent system about the science that seems to change. anger pushed into the restrictions we thought were over. this afternoon president biden take toes the east room of the
white house to address the confusion. no wonder. a harvard poll shows his approval rating is down 10 points since june. could have individual confusion is the reason. second hour of "varney & company" is just getting started. ♪. look who it is, loo who's there, the man himself, scott shellady, welcome back, scott. really good to see you. what is your take on the confusion, covid confusion what is your take on it? >> i think that is why the market is nervous, stuart. look, this is slippery slope, when you put the mask back on, you hide the face, you lose the person. losing the person we move from citizens to subjects, okay? that's what americans don't like, right? we all want to be healthy but a lot of folks still have some
questions. if0% 70% of us had a john, that leaves 30% of people that haven't. of those 30% at least half already had covid. 85% of the people have natural immunity or a jab. we're talking about 15% of the community out there. the media makes it seem like it was back to march of 2020. i had the same feeling when they canceled the ncaa basketball tournament, canceled march 17th, st. patrick's day. that is the same feeling i have now. we don't have a plan. everybody has to go back under lockdown. it is just not in your house. stuart: i also think you believe the economy is slipping, not quite the rocket ship we thought it was. slipping, you used that word. explain it. >> last week, stuart, we were looking for a 8 1/2% gdp. we got a 6.5% gdp.
last week we were looking for 350, 380,000 jobless. 400,000 jobless. yesterday had pmi also missed f you keep a keen eye on numbers coming through, they are note improvements we thought they would get. they're less good, right? that is the positive part of me. the negative part of me tells me that 10-year yield, you just mentioned it, it is getting scare littlely close to 1% and lower. we're 1.15 now. it was on your show six or eight months ago, stuart, we were talking about what does the stock market look like with a 2 1/2% 10-year? boy, oh, boy, has the sea change happened. we're nowhere near that. the bond market is much, much bigger than the equity market. the bond market is flashing big time yellow signs, caution, caution. stuart: that is why you think the market turned around and we're down today? new restrictions coming on stream and slipping economy as
you say, 1.15%, that is why the market is down, stocks are down? >> yes. nobody is thinking with their heads. they're panicking. everybody is -- they're not enforcing a vaccine passport but every company is saying, bar, restaurant, you have to have a vaccine to come in. that is basically a vaccine passport. that is what the market is worried about. that will slow growth. that will slow the economy. if, the government has been great about doing this, right? they haven't mandated it. they left everybody else doing it so they look like the bad guy. they will let private business do it, just let private business raise wages because paying people to stay home. they have not been the one mandate higher wages. they let private business do it. they're off to the side letting it happen on their watch but it has been bad all the way around. that is why the stock market doesn't like it, we'll have a lockdown but on your face, not in your house. that will slow the economy, at least not be the economy you and
i both thought we would have coming out of this. stuart: we're glad you're back scott. do not be a stranger. hope to see you soon. >> i won't. stuart: as of now the dow is down 60 odd points. susan is looking at some movers. it is not that much. peloton. susan: peloton was up with 1 1/2% 20 minutes ago. it is rallying because of the new york vaccine mandates. that means people might be stuck at home again in order to get their workouts in. planet fitness, it was selling off, still is down 4% of this new new york mandate that is starting in new york city but that is going across the country as you heard from equinox and soulcycle, right? stuart: as we say, you have to have proof of vaccination to get in a restaurant or gym. we expect that to happen in new york city. susan: doesn't have to be mandated by government or city governments. restaurants are doing that in the city. i mentioned it to you.
i had that experience. nikola, the embattled truck maker, whose founder trevor milton charged with making misleading false statements to investors. now nikola says only will deliver 50% of the trucks they said they would this year. let's take a look at hotel operator marriott international. things are recovering according to them. the stock is selling off though. they expect an uptick in business travel this fall. stuart: they expect it this fall. haven't seen it yet. susan: delta variant spreading? overly optimistic. stuart: earlier in the show we talked about apple. the news i believe they are the most profitable company in the world. susan: which i don't think is a surprise although you were a bit of surprise. okay, they made, according to fortune global, they made $57 billion for the entire year. i think the past quarter, you saw the quarterly earnings last week, kind of proved, cemented this.
if it was tremendous. profit up $21 billion, record spring quarter. $21 billion in $80 billion of sales. they pretty much print money. not just apple. look at the entire technology space. i counted amazon, alphabet, throw in facebook and apple, total quarterly profit $74 billion. that is almost the equivalent of general motors's value and they made all that money in just three months, profit made in three months. susan: profit. it is incredible. it is an incredible capitalist system we live in with innovation as well. stuart: whole new world. tell me about tesla. because i think, 7:05 this morning, at least one investment firm is going above 800. susan: this firm in taiwan are well-known about the outlook on the technology sector. they made pretty good calls on apple. they say tesla is worth 855
according to them. that is roughly another what, 20% up? this is based on technology superiority when it comes to full self-driving electric batteries, et cetera. piper sandler saying tesla could have another 70% upside as well. stuart: how much? susan: 70%, seven, zero, upside. this is the whole revolution in climate, green energy spending. government give you 7 1/2 billion dollars to build up the electric clarks. that is a boost from washington, d.c. stuart: i would say it is an as sis as we said before. coming up the head of the nation's largest teachers union says we need to mask our kids to keep our schools open. >> masks stop transmission. universal masking is going to be very helpful to keep kids safe, to keep the unvaccinated safe and to keep schools open. stuart: yeah, but is it good for the kids? will it keep the schools open
actually? we're on it. my goodness, what a story. facebook rejecting a police group's officer of the year post, citing close, sensitive social issues. the head of illinois's police chief's association calls the move ridiculous. and he will join me shortly. first though, president biden's approval rating takes a 10 point dive as covid cases rise. coincidence? ronna mcdaniel doesn't think so. she will join us next. ♪. [sfx: psst psst] allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! all good ♪♪ (vo) the rule in business used to be, "location, location, location."
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♪. stuart: d.j. snake and little john. susan: a little modern music. contemporary. stuart: kind of aggressive, would you say? susan: no. lively, upbeat. stuart: whatever you say. that is the white house a little cloudy this morning. 1 degrees. move on. president biden has taken a hit in the approval ratings as the delta variant surges. new poll from harvard nonetheless, shows that he has dropped 10 points to 52% from 62% just in june. that is quite a turnaround, is it not? rnc chair ronna mcdaniel joins us now. is that drop in the approval rating, is that entirely because of covid? >> i don't think it is entirely because of covid. the border still factors in. inflation factors in as americans recognize they pay more for everything. they can't go to the small business and get service they want because they don't have enough workers but it is absolutely covid related.
this has been a mumbled, jumbled mess from the biden administration and the american people are frustrated by the inconsistencies of messaging coming out of the biden administration. stuart: the president has taken notice of decline in his poll, approval rating because he is doing this special presentation this afternoon. it will be about covid. he will try to end the confusion. what do you say? >> well i wonder if he will talk to some of his colleagues living by one set of rules and telling us all to live by a different set of rules. president obama suddenly mask up on martha's vineyard with the big party this weekend? d.c. mayor mask up while at a celebrity wedding while she tells rest of us to mask up in d.c.? it is hypocrisy the at the highest level, democrat leader after democrat leader, nancy pelosi not wearing a mask in the house but arresting staffers of congress not masked up. stuart: this is getting to a lot of people.
the teachers union president randi winegarten calling for universal masking in schools. we'll roll this tape again because it is important. roll it please. >> we see the delta variant being very transmissible. so that, what masks do is masks stop transmission. so universal masking is going to be very helpful to keep kids safe, to keep the unvaccinated safe and to keep schools open. stuart: ronna, you're a mom. what do you say to that? i mean do you want any child in america to go to school full-time in a mask, full time? i can't believe this. >> no. i have a 16-year-old son. he hates wearing the mask in school. he had it for a short period of time. you can't see what the teacher is saying. they get on you if you're touching the mask. you're not learning. it is so wrong. you know what? he got vaccinated.
he made the choice he was told if you get vaccinated you don't have to wear a mask. when did randi winegarten become the head of the cdc? i know. she is the biggest donor to the democrat party. let's science do it. stuart: why are teachers trying to keep the schools closed, keep kids out, why do they do this? >> i think it takes them to the negotiating table over and over again. more money in the pockets of the unions. they want to leverage this and they're hurting kids as a by-product. our kids have suffered. my kids have suffered by not having five day a week in person school for over two years. now you're telling them, even after they got vaccinated they're going to have to wear masks in the fall? this is ridiculous. i think parents across the country are going to push back. go run for school board. we've taken enough from these teachers unions. it is time for parents to stand up. stuart: another reason why the approval rating of the president
is declining. ronna, thanks so much for being with us. our best to your 15-year-old. go for it. >> sure thing. stuart: now this, pro-biden groups are going on an ad blitz. how much will they spend. susan: $100 million. during august recess. wouldn't be nice if we get august recess for the entire month as well. elected officials. looking at 1000 events over the next six weeks. some are headlined by vp kamala harris for first two weeks. 14 cabinet secretaries on the road to 26 cities, 13 states, janet yellen, pete buttigieg. biden will only travel in the final week of august. they want to get voter support for the infrastructure bill. not just a trillion dollars, which looks good to pass the senate to give them the agreement there. when it gets to the house, when it gets tricky, talking about 3 1/2 trillion dollars in poverty and climate spending. i think we all agree we want better roads, better broadband and airports. why not stick to the trillion
dollars, and not make sitting bigger which has less chances of passing? stuart: because the left wants to change society and transform america. the way you do that is with a 3 1/2 trillion dollar deal. susan: cutting off your nose to spite your face. we need better airports and roads. stuart: almost dragged you into politics. the dow turned around. now we're on the upside. woopty doo. biggest winner is ibm. >> i think you were right, new york vaccination mandate may have turned sentiment, backwards. could slow the economy ultimately, backwards, backwards. s&p winners headed by in phase energy. i see ralph lauren there again. nasdaq winners what have we got there, please? anything stand out to you there? i don't know, dollar tree i know. i don't know the rest of them. susan: that is interesting for a tech-heavy index, looking dollar tree up there. we saw nvidia got a price target
upgrade this morning. stuart: yield on the 10-year treasury coming way down. that would normally help the big tech stocks, not today apparently. other companies on the nasdaq are gaining more ground. susan: we're still at 1.16 for treasury yield. stuart: a low, i tell you. pepsi up 1/3 of 1%. they're selling tropicana, naked juice and other juice brands. they're selling them. susan: they're selling them. stuart: why? susan: it is not popular to drink that much sugar, right? $3.3 billion sales to the private equity group pui. juice sales dropped 20% according to one analysis. stuart: really? susan: really sugary. do you look look at the carbs? i don't know if you look when you eat or drink anything. people were stuck ad home. they're eating breakfast at home. they wanted more comfort food but overall if you look the over all trend is down for us. >> sales.
stuart: now you know. susan: get rid of lagging brands. stuart: this is a tease. i'm telling you what is coming up. maybe susan will get into this one, surprising number of singles who say they have foda, fear of dating again. we'll get into that. susan: are you getting into that? stuart: no. you are. susan: oh. stuart: first silence on campus. one nyu student says free speech is endangered on campuses these days campuses like hers. she is here to share her experience after three years at nyu. we'll be right back. ♪. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions
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♪. taylor swift at 10:28 eastern time that is the beautiful statue of liberty. this is new york city. nice day today. 78 degrees. moving on, it is official new york city will require proof of vaccination for indoor dining and gyms. by the way this goes into effect in september, so susan it seems to me they're saying look, by september get vaccinated.
otherwise you will not get into a restaurant or a gym. susan: giving you a buffer and timeline. you do have more outdoor dining in summertime so the weather allows for that. there is an app. key to nyc pass which you can up load on the phone. this app will have the vaccine status to show to businesses. stuart: flash it to get in. susan: which is already happening with individual businesses here in new york city. stuart: it could be a template that will be used in other democrat states around the country. not florida, not texas. california, illinois, et cetera, et cetera. a template for use elsewhere. susan: we're seeing that impact on the markets. planet fitness, some fitness stocks are down. travel is getting decimated today. stuart: is it a step backwards if it encourages vaccination. susan: great question. you're always a long term thinker. i like that. we do know the vaccination rate hit 70% for all adults in the u.s. with one shot. it is encouraging with the delta variant spread, companies mandating vaccines in order to
get back into the office. stuart: i think this will encourage it. susan: yeah. stuart: let's move on. my next guest is a junior at nyu. she says students are afraid to speak their minds on campus because of the backlash from liberal professors, administrators and fellow students. rikki schlapp is with us. she is that student. she joins us now. take this through with us please, during the time at nyu, give us examples how your free speech was clamped down on. >> absolutely. i wouldn't say nyu is particularly bad actor because it is across all of academia. we're seeing assault on free speech from all sides. from safe spaces and trigger warnings, ding knitted to protect students from idea lodge call discomfort. speech codes some which prevent poorly timed laffer. political correct vigilantes that destroy lives of anyone who
doesn't tow the line. stuart: give me example what you saw on nyu? >> on first day of classes professors blatantly disparaging conservatives and supporters. we had a speaking event shut down by mayor bill de blasio himself after antifa threatened to wreak havoc on campuses. across all of academia at the moment, we're really seeing a oppressive sense if you don't tow the line, if you step out of line politically, if you accidentally offend someone, if you're not up on elitist political lingo and right words to say, that your career, your life, your recommendations might be hanging in the balance. stuart: are you still at nyu? i believe you're a junior, so you're still there, still studying there? >> yes, stuart -- [inaudible] stuart: say it again. >> i have two more years to go, yes, sir. stuart: now you have appeared with me on fox business. i believe you have appeared in the "new york post."
what happens when you go back to the campus? what kind of reaction will you get? >> i've been really heartened for as many people who tried to cancel me more people came out in support of me. i have heard from deans. i heard from administrators. i have heard from student council. the fact this is tyranny of the minority. 2/3 of students across the country report being unable to speak their minds politically. the fact most people are feeling oppressed by the climate right now. leading by example, by standing up, by speaking out, by being authentic to myself. people are coming out of the woodwork to support me. ultimately thought criminals sitting next to thought criminals in classrooms, never put it tooth because we're afraid of speak out. i am setting example and i hope when i go back to nyu i will be treated appropriately for by my peers and professors. stuart: anytime at nyu, has anybody been hostile right to
your face with hostility. has that happened? >> i have not had in my face interactions but i have certainly been attacked on social media with some really cruel and vicious ways. ultimately the most important thing is standing up on principle. this is the hill i'm willing to die on. free speech is absolutely the most fundamental right, people in america, particularly young people have. we're supposed to be exploring ourselves. that is what college is for. so i will continue to stand up and speak out for those who feel silenced. stuart: keep at it. pleasure to have you on the show. hope you come again. tell us how you're doing. >> such an honor. thank you very much. stuart: sure thing. check the markets. dow up is 40 points. little changed for the s&p. this is very interesting, a big deal story. a blackstone-backed media company buying reese witherspoon's media business, hello sunshine. that seems to me to be raising
the price of talent and content. susan: content. stuart: how much are they paying. susan: paying $900 million. stuart: $900 million? susan: which is a lot of money. reese witherspoon's company which produced hbo's "big little lies" and the morning show. this thirst, this competitive thirst for content right now. you remember amazon paid up what, 8 1/2 billion dollars for mgm which makes the james bond movies and other tv catalogs and tv productions as well. added element of celebrity. nike may pay $350 million for spring hill which lebron james's production company. you trying to get eyeballs to stay on amazon prime and apple tv pluses. moonlight, you remember the
oscar-winning movie, that production house is up for $3 billion. a-24. these are premium prices. you can imagine a few years ago they probably worth weren't this much. in a matter of years with netflix, spending 16, $17 billion on content every year, other technology companies are willing to catch up and spend. stuart: content is king? susan: yes. stuart: sure is now. videogame publishers, all of them way down. is china at it again? susan: unfortunately so if you're a videogame investor this morning. so last night we had china's biggest video game provider, one of the largest technology companies tencent, owns epic games which makes fortnight. it dropped 10%. one of china's newspapers compared video gaming to opium, addictive. this is having a effect on activision blizzard reports tonight after the bell and take-two interactive makes grand theft auto. take two had a disappointing
earning report this morning. they will delay titles and guidance is weak. stuart: i do know parents who say videogames are opium for their, i do know parents. susan: you can make money on esports, better tell our audience what is coming up. here we go, simone biles returns to the balance beam in tokyo. we have the highlights of her performance just ahead. how much can you expect to spend this back-to-school season? in one word, more. we'll tell you how much more. ♪.
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♪. stuart: i think our producers are in love with this particular song, money, money. that is the nature of this program, there you go. that is ocean city, new jersey, sunny day, 77 degrees, nice day to be at the beach. back to school set to reach new records this year because of inflation probably. lydia hu at a mall in new jersey. lydia, tell us how much more paints will have to spend this year? reporter: stuart, parents will spend $58 more if they have kids in elementary school through high school. that will be $848 according to the national retail federation. total spending is expected to touch 3$.1 billion, an all-time high, stuart, since the organization started tracking spending for back to school. now inflation is really driving the costs here. prices for boys and girls shoes, clothes, up 5 1/2% over last year. prices for books and other supplies are up 2 1/2%.
electronics, computers, kids needed them last year. they need them this year. that is up 2.3%. that is not only thing driving costs but supply issues, stuart. brg retail say shoes, backpacks clothing are manufactured overseas. so they are not expected to be on the shelf as much this year. retail experts said if you need something on the shelf, you better buy it, it might not be there very long, stuart. stuart: some people call that hoarding. let's not get overboard on that one. lydia, we'll see you real soon. we do have another turn around on the market. we were up at the open. down by 10:00. now we're back up again, 45 points higher for the dow industrials. the s&p, a fractional gain, down 50 points. susan watching boeing which i notice is down. susan: down almost 2% because of the spread of the delta variant
and what us did it mean for travel around the world. i will throw up the airlines. stuart: that's it. susan: look at the airlines they are just down across the board. i saw two, to even 3% down. a bit of a recovery i guess given that we saw the bounceback in the broader market. stuart: pretty much flat across the board today. there is not that much -- susan: marriott actually had stellar earnings. they talked about the uptick back in business travel in the fall. that is not helping them. marriott ceo by the way on the earnings call says that labor pressures aren't that big of around impact on the bottom line. stuart: i think the creeping mask mandates, the vaccine mandates, i think that is really hurting the markets. susan: show you the cruise lines. if you can bring that up as well. stuart: we have cruise lines? much. there you go. susan: norwegian down 3 1/2. that was expected, right? stuart: they're all down as vaccine and mask mandates further encroach our society. i think that is the way it is. let's change the subject,
talk about simone biles back in the olympics. she completed an event today. she didn't get the gold though. susan: she didn't get the gold. she got a medal. got to see her in an individual event. that is a win for everybody, including simone biles. she lost the gold to the chinese gym gnat who took home the top prize. i would say simone biles won hearts and minds. learn support to mental health issues. stuart: very human young lady. what is about foda, foda. fear of dating again. why don't you handle that one? susan: thanks, stu. you want to try this at one point or focusing on something else? stuart: i have got -- susan: that happens if you're dating for a year as well. fear of dating once again according to a survey from stating app hinge. more than half of those looking for loved ones again have a fear of going back out there. whether or not you know, they have they know, first of all
meet the people according to some of these survey results and just you know, interacting with people, because you've been locked at home for about 12 months. stuart: saying we've lost the language of love? susan: a recent match survey reported 40% of their singles say they are nervous about their social skills when it comes to dating,. stuart: we'veforgotten romantic protocals as well? susan: apparently so. people have been stuck at home all this time and they're looking for connections and love. stuart: my cramp is over, i can get back on the air. susan: funny that you started cramping during that story in particular, huh? stuart: deliberate. former president obama planning a big birthday bash on martha's vineyard despite rising covid cases. joe concha will sound off on that one. facebook rejecting a illinois police group's officer of the year post. the head of the state police chiefs association called that ridiculous and he joins us after
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♪. stuart: did you know it is national night out? that's where police and the communities they serve try to come together for events like a cookout for a block party. this is happening as violent crime surges across the country. we're going to bring in grady trimble in chicago. is anything being done in chicago to curb the violence? reporter: chicago cops are participating in several of those national night out programs. those strike force teams from the federal government are now in chicago focusing on illegal trafficking of guns used in violent crime but the fact of the matter crime is still rampant here. in the month of july chicago police say there were 461 shootings. that is up 15% from an already violent july of 2020 when shootings spiked 75%. not just shoots, criminal sexual assault and theft are up double-digit percentages.
we talked to a community activist who tells us this time is taking its toll on the people and businesses here in china. >> you have hardware stores, community clothing stores, some of the other business notice community have really, really plummeted. you have a lot of gun violence continues to occur in a certain area. a lot of people will not come out and patronize the businesses. so we lose all around across the board. reporter: and i've talked to business owners in the downtown area in the past month or so, stuart, and some of them tell me they're closing earlier because they don't want to be open late at night when crime surges. another one told me they have hired security for the first time ever because it is just getting out of hand here. stuart: it is your birthday, grady. did you realize you could be my grandson? [cheering] reporter: i never did the math officially, stuart, i guess, i guess that makes sense but more importantly, stuart, it is one of our great field producers
daughter's birthday. phil took the day off because his daughter mattie turns eight today. happy birthday to her. i heard she already opened her present. i haven't gotten anything yet, can you believe that? stuart: i don't know that young lady, but i know her father. happy birthday, mattie, great to have you on the program although at a distance. grady, thank you very much. there is this. let's get serious again. facebook rejected a illinois police group's request rejecting a post honoring that person's hero i. the director of the group joins me now. why did facebook block the post which we just put on the screen. it seems completely innocuous. why did they block it? >> they told us it has something to do, might be a political issue or might affect the outcome of an election or political campaign or it might involve a social issue, we said how is that remotely political to honor a great police officer?
stuart: i get the impression that any post about police officers must be negative or it will be blocked. you think i'm on the right grounds here? >> you know what? i really don't know because we actually like facebook. we have more than 10,000 followers on our facebook page. we post a lot of good news, kind of like the national night out that i just saw. stuart: if you were just honoring a police officer's heroism i take it the post has been restored, hasn't it? >> post itself was never taken down. but what we tried to do was to boost the post with an ad. they rejected our ad and it said that, what we tried to do violated their advertising policy. that is what we thought was ridiculous. you know, now they're asking for all kinds of, they said we need to verify who we are. we're here. we are who we are. we're glad to let people know
that. and also we just, we just think this is not political. it is honoring an officer. so please just admit your mistake, apologize and allow us to boost it with an ad. stuart: on a related issue, as you know obviously crime is surging in major cities across the country. in july shootings in chicago were up 15% over last year. you're with the illinois association of chiefs of police, the executive director. what, do you have any kind of solution in mind for the violence in chicago and elsewhere? >> you know, chicago is quite a unique place and actually people are trying to do a lot of things. i think if, if politicians would actually show a lot more respect for the police and if they wouldn't be so quick to jump on the police and criticize everything that they do, then the police might be a lot more
willing to, to go in and do what they're trained to do. right now they feel like they're under siege. stuart: i bet they do. thanks for joining us, sir. we appreciate it. see you later. >> you're welcome. good to be here. stuart: you got it. new legislation could soon let police officers sue protesters for attacks on harrassment. where is that happening? susan: that is in long island county, this would possibly allow one lawyer looks to sue protesters and collect financial damages. he is looking for fines up to $25,000 as well. now i would say if you introduce more litigation the only people that actually benefit would be the lawyers i think in my view. what do you think about heavy litigation and allowance of this in court? stuart: i normally wouldn't favor litigation, but when police officers are under attack with violent protests it plight be a good counterpart on their attack on the police to say, you owe me money.
susan: nassau county is doing something interesting as well, making police officers, first-responders a protected class under the county's human rights law which helps protect them. stuart: that a new direction. susan: that's a new direction. stuart: that is a new direction, got to do something here. another big hour coming up for you. we've got jason chaffetz, joe concha, the chairman of the national guard association, michael maguire, plus is the massive infrastructure bill a trojan horse for the left's spending agenda. at least one republican thinks so. we're on it with jason chaffetz after this. ♪. liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five!
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taxes into the reconciliation bill. >> dramatic action to tighten. 2022 the s&p is trading into the 5000 range. ♪♪ stuart: susan informs me that is electronic dance music. 11:00 eastern time. straight to the markets, not much price movement today, the nasdaq is down 50. the 10 year treasury down to one.6%, the third day in a row we've seen it yield come down.
the 2700 page infrastructure bill, conservatives have read it. republican jim banks calls a trojan horse for the left's social spending in the green new deal. he takes issue with constant use of the word equity to handouts money. minorities must be donating a chunk of that money and he says the bill is about the green new deal, not roads, bridges and tunnels. traditional infrastructure. the bill must get 51 votes in the senate and it will go to the house. with conservative in opposition, will it pass? should it pass? let's bring in a man with many years of experience, jason chaffetz. do you think there's a trojan horse for the green new deal? >> absolutely is. it is an absolute joke just read the wall street journal opinion piece today.
the idea more than 10 republican senators have the procedural bill without reading an ounce of text, when they took the procedural vote to get past the 60 vote threshold that was horrific and now that we see the text of it, there are people like jim banks pointing out there is so much in there that does fulfill the green new deal they sold it under a different name. stuart: do you think anything gets through? 154 conservative caucus members and how say this is a trojan horse, they are not going to vote for it but it will pass the house. can any vote get done? >> really leverage republicans have is the 60 vote threshold invoking cloture in the senate but they gave that up before seeing one word of the text so democrats can run the table if
they can hold everybody together. they have to get every single one of them. they'll have a four seat majority and can't lose a single person but i think they will run the gamut and the republicans, the fatal flaw they had in this is did not strike a deal to say you will not do another infrastructure or green new deal bill which they could do through reconciliation. i can see why they are ecstatic. stuart: a new poll, harvard pole, president biden's approval dropping 10 points and last month, 62%, 52% july. why is it down so much in that one month period? >> you get a honeymoon in the beginning and he exhausted that. look at the major issues facing the country, what can president biden and kamala harris point to as success?
not the border, not crime. they promised to raise taxes. i don't see how that's a winning formula. they lurched to the left and gone with the progressive notion, the world is a less safer place, you have a lot of people with a lot of movement in china, russia, iran, others. you are allowing the un to come in and tell us how racist america is. the promise was president biden would unite the country and work in a bipartisan way but he hasn't done that. there is no sense of bipartisanship in the house. the promise and the fatal flaw is president biden poured judgment in terms of the gaffe, as much as he gets protected by the traditional media there are other ways around that. the confidence of making decisions. stuart: tell us how you really feel that tell me how you
really feel about this. if you are vaccinated, don't know if you are, i am, how do you feel about if you are vaccinated you got to wear a mask? >> i'm vaccinated, my wife is vaccinated. i believe in self determination. president obama is having a big event with 700 people and republicans are saying it is hypocrisy. go ahead, have a party. if you shop and you are not vaccinated you are likely to get covid. you might die. that's your choice. i don't think if i am vaccinated that i have to wear a mask but if somebody else wants to wear a mask it doesn't offend me but i won't get exacerbated if they are not doing it. at this point you have a choice. there is a viable vaccine. for me it is the right decision. for the people it might not be. stuart: we covered a lot of ground, that is a good thing in television. thanks for being here. back to the markets, not that much movement, the dow up 30, the nasdaq down 60.
let me bring in luke lloyd. we get to the markets in a moment. i want to talk about your trip to louisville. you say there was a plot of land fill with trucks. 50,000 trucks just sitting there. what was the problem? >> minding my own business, rocking out to van halen. i looked at the side of the road and saw thousands of trucks sitting there on acres of land. i got to louisville and spoke to the locals, semiconductor shortage that couldn't put technology in the cars, wasn't drivable. 50,000 cars sitting there and that -- isn't it? stuart: it is different but what you've done is given us a visual picture of the impact of the chip shortage. 50,000 cars and trucks sitting there waiting for minuscule ship before they could get away.
that is the extent of it. any sense of the shortage winding down? it has had a profound impact on all kinds of industries. >> don't think it will slow down anytime soon. it will remain for the foreseeable future. mentions of shortages and company skyrocketing, not just automakers but cell phones, and everything in today's world. his natural limit on how much the economy can grow. consumers want to spend money, demand is more than their, the prices are too high and that causes issues that are more important than ever to hedge against inflation but important to be selective in what stocks to pick. stuart: let's talk bitcoin. should we be worried about that? >> you shouldn't be worried in
the long-term, every government wants oversight, and afraid of regulation, my advice would be to own bitcoin. and 10% of your -- risk tolerance or age. it could go to 0. i think it is probably going 500,$000 or million, that is more likely, definitely speculative but the question is if you take a 10 year timeframe, that is very close. stuart: a young man like you who rocks out of an alien, do you own any bitcoin or dogecoin? >> bought it at $5,000, missed
65, i'm waiting to get back in. it makes sense in the long-term portfolio but i like to trade the market and stocks for it 25,$000. stuart: luke lloyd, young guy, van halen, etc. thanks for being here. let me turn to susan lee. >> general motors is reporting so we will see have a check shortage impacts their sales. >> this afternoon lift, they don't have food delivery to offset the decline when it comes to ride hailing, they are still down 2019 levels down 20% given that year ago we were down 85% to 90%. will they stick to their predictions of profitability as
a public company outside expenses? >> tinder -- >> talk about -- stuart: match group owns tinder. fear of dating again. a report this afternoon. >> going out to date once again, a post covid boom, raising the price target to 185. stuart: 380%. >> it has been a tough day for a lot of sectors. stuart: tell me about the oil majors. >> occidental should do well in the run-up to oil prices we've seen. you have a dangerous smirk in your face. what oil prices up to $75 a barrel, a 6-year high. stuart: do you know anyone
personally who invests in oil company stocks? >> probably a 401 -- a 401(k) stable, exxon and chevron for so long. >> i know which stocks they bought, anybody who has bought it from yesterday. >> it is but the recovery in oil prices helping the bottom line. stuart: now this. simone biles wins bronze. was the media fair when she needed to take a break? i will ask joe consciousa. one city will test its entire population for covid, 11 million people. we will tell you where it is happening. former acting ice director does not mince words about the border crisis. role that tape. >> there is no interest at the white house level including vice president to fix this problem. stuart: we will head to the border for a live report next.
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they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 stuart: a new york state investigation 5 governor cuomo sexually harassed multiple women in violation of state and federal laws. the report finds cuomo engaged in unwanted kissing, groping and inappropriate comments. the new york attorney general said cuomo created a hostile work environment and retaliated against one former employee. the department of homeland security says border patrol apprehended 19,000 children in
july on top of the previous high set in march. film alluded in, you spoke with border agents and they said they have, quote, surrendered the border. >> in certain sectors they are telling us dhs sources are explaining a ton of their agents because of how overwhelmed they are are being forced to do processing with these big family units across paperwork and that sort of thing, leaving fewer and fewer agents in the field patrolling. some in la jolla and a couple zones where there are few if any agents out there and the other night one agent told us at times it feels they are surrendering the border and why they are so overwhelmed, look at this video our drone crew shot in mission, texas. we've been showing it to you the last couple days, masses of migrants waiting to be processed underneath this
bridge, hundreds of people under their, a popular rio grande river area nearby and it takes a while for these folks, it requires more agents to come down there but not just in mission, that's one part of the border. look what we shot in la jolla last night. no border patrol around this time, some of them were dancing, waving at the camera. some of them will be good to go if they can get in here, they will get bust down to mcallen and get a plane ticket, bus ticket, go where they want once they claim asylum. it happens day and night, rain or shine migrants showing up in the middle of a thunderstorm, had another sizable group showing up, border patrol had to wait and process them. they are not free to scan other parts of the borders where criminals or runners are trying to come across. look at these wild photos out of eagle pass where the local
police department reports a delivery driver called 911 after he was delivering boxes, one of those boxes started moving. there was a woman from hunter s in that box, that woman was apprehended, border patrol was called and that is what is happening on the border day in and day out, take a live look out here, staggering numbers in the month of july, the us government is estimating they have a staggering 210,000 apprehensions at the southern border, massive increase over june which is a 20 record at 189,000. the administrations of the border is closed but there is extreme progress being made. the slowdown in the summer. 210,000 in one month. everything else out of the water and it is a 20 record high. stuart: telling it how it is, we will see you again soon.
greg abbott sent the national guard to help border patrol make arrests. let's bring in michael mcguire who is with the national guard association. is that what the national guard is supposed to do? go to the border to make arrests of migrants. >> the primary combat reserve of the army and the air force but it is an important mission because the national guard can be federalized and support customs and border patrol and immigration service officers. has we've done in the last 3 administrations but president biden is not doing it. i saw your opening clip. he needs to understand, this commander-in-chief is directing his duty, not providing resources to customs and border patrol. i find it unbelievable that in the middle of the period when there is a spike in the
pandemic we are repealing title 42, not showing any assessment of public health, putting communities at risk and have a completely open border in the southwestern united states. biden and the administration are derelict in the duty. stuart: the former ice director, told fox the white house is not going to address the border problem. >> there is no interest at the white house level including the vice president to fix this problem. stuart: in other words nothing is going to happen. and your continued commitment of national guard people to the border. >> i applaud governor abbott for supporting the texas to permit of public safety. we've done something similar in arizona. as i said earlier the radical left has opened the border. 1 million people crossed since
the first of the year. we've got to stop this. that is why i run for u.s. senate, i retired 3 months ago after 34 years of service and we need leaders that understand this is a federal responsibility. the commander-in-chief is not doing his duty. of this would military we would remove him of command for failing to do the things he's taken the oath of office and which is protect and defend the people of this great nation. stuart: strong stuff but we appreciate you being here to say it. appreciate it. back to those markets. we've got a mixed picture. the dow is on the upside, the nasdaq shedding 80 points as we speak. pfizer's stock price reaching $44 a share. the army, the u.s. army is giving pfizer $3.5 billion
contract to make 500 million more doses of vaccine. they will be distributed around the world. pfizer is up $44.72. the city of wuhan, china will begin testing other residents for covid. ashley, are they seeing a surge in infections? ashley: yes but not exactly a surge. authorities say all 11 million residents will be tested for covid 19. the city has not reported any locally transmitted infections in more than a year but health officials on monday reported twee 7 migrant workers had indeed tested positive. china has begun reinstating strict restrictions following the largest coronavirus outbreak and month. residents in some cities in china are being forced to stay home. wuhan managed to cyclic
financial covid outbreak. in early 2020 the court claimed the virus came from the wuhan lab as early as september of 2019 but it appears it has gone full cycle with this very infectious delta variant. stuart: look at the dow winners, up 60 points for the dow in these are the leading winners of the dow 30. 3m tops the list along with ibm, procter & gamble was there and so is home depot. look again, ralph lauren up there, number 2 on the list, up 9%, a big winner, nasdaq winners. i don't see any big name technology winners, the nasdaq, dollar tree, o'reilly, micron, i don't see any of the big 5 on the best performer list on the nasdaq. then there is this. former president obama planning a huge birthday bash is the
delta variant surges was the white house is not concerned. >> this event is outdoors and in a moderate zone. we advise every want to follow public health guidelines. stuart: joe concha will have more. show me robin hood. my next guest says he got an offer to buy the stock. he didn't bite. he declined. i will ask him why. ♪♪ ♪ can't take it back once it's been set in motion. ♪ ♪ ♪ power.
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wealthy. it is big, powerful, and rich. it is therefore under attack. the left cannot stand success. senator elizabeth warren wants to seize jeff bezos's money. the wealth taxes aimed at him. senator warren gleefully detail how she would confiscate his money because he has too much of it. aoc hates him so much she stopped amazon building a campus in new york city that would have brought 20,000 high paid jobs to new york. that is called cutting off your nose to spite your face. in april of this year, 71% in bessemer, alabama, rejected unionization. the biden team didn't like that and trying to reverse the decision. one member of the hearing board once the vote nullified.
they want the union in regardless of the wishes of the workers or the impact on the company. here we have a corporate crown jewel subject to legal and political harassment at the highest level. the aim is to slime its founder with my comments about paying his fair share to stop it using it capital to revitalize other industries, and that is not fair. i hope the effort fails and i think it will. socialists have no business destroying one of the most innovative companies in the world. would you use amazon if it were run by senator warren, that is my take. take a look at amazon because they are in the news this morning, they are looking to buy your palm prints. that is the expansion the left will not like. what is the palm print and what is it about? >> he will get $10 in credit if
you enroll biometric data in the palm print recognition system called amazon one. reports say people must connect their palm print to their amazon account to get that modest reward. amazon launched amazon one last observer promoting it as an easy way to pay in the company stores, users position their hand over the company scandals which recognize the unique palm print based on patterns of lines, ridges and veins. it is available in 50 us locations including whole foods stores and amazon go shops. amazon says thousands of customers have enrolled, what they want to do is track you through your palm print. stuart: they want to track you. you have news on simon property group, they reported this morning. here is the question and i think you know the answer, our
shoppers returning to the malls? >> they are, maybe as a result of wanting to get out and shop, simon property group, the biggest mall operator in the country says retail sales in june were comparable to june of 2019 levels and up 80% from a year earlier, some parts of the ussr sales higher than 2019 levels. the question is whether malls can fill the retail spaces left empty when brands went bankrupt or had to close stores. simon property is seen demand for leases increase day by day so that is very encouraging at least for the bulls which have been decimated. stuart: look at robin hood. the stock is at $43 a share, up 14%.
they went public, 38, now they are 43 a few days later. greg smith has a point. you were offered shares, the morning of the ipo. they have the allocation but couldn't sell the stock before the ipo. what does that tell you about the stock in light of the 14% gain today? >> i am sporting my vintage robin hood and wondering with everybody else the original meme stock creator, following the way of amc and game stock. if you look at the ipo market it has been on fire. there's been $96 billion ipos globally priced in the second quarter and a record quarter, the biggest quarter in more
than a decade. performance of ipos has been pre-remarkable. ideas trading on an average of 24% although it has been slipping lately. you got to ask, when a customer is bestowed the great position of getting ipo allocation usually that is a fabulous thing but last thursday i woke up to not one the two opportunities first taken robin hood ipo coming later that day and i had to ask was this too good to be true but i hated groucho marx's advice and said i don't want to be a member of the club that will have that. stuart: would you consider investing in robin hood as a meme stock or would you invest in it because it's fundamentals are good, it has 20 million accounts. >> they've had phenomenal growth but if you break down fundamentally the companies work into a casino than a financial services company,
more enabling addiction and daytraders among our youth as opposed to promulgating -- stuart: enabling addiction? did you say enabling addiction? >> i did. i think anytime someone is addicted to a chemical or bad behavior, robin hood has had those characteristics of enabling daytrading. if you look at the statistics, the numbers and the accounts i think it is closer to gambling than investing. stuart: would you reject robin hood as an investment on moral grounds? >> my morals are skittish but from a trading perspective i think trading it could be akin to gambling. trading at 33 times, the ipo is priced at 33 times revenues versus schwab trading closer to 10 or 11 times and it is many times more profitable but there
is massive growth. i don't want to bet against the meme stock crowd. hindsight is 20/20. i participated at 38, it did trade in the low 30s so maybe this is by the dip where it is going to work. it is not one for me. stuart: greg smith, thanks, short on time but get you back soon. one airline added tech talk to their in-flight entertainment options. i guess that will be a play at the jens the market. we will tell you which airline too. new york city will require proof of vaccinations and indoor restaurants, gyms and entertainment venues. got to have proof of vaccination. it takes effect in september. a full report coming up. ♪♪
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this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. ♪ ♪ ♪ because it means everything to you. ♪ ♪ ♪ hey google, turn up the heat. ♪ ♪ ♪
stuart: developing story starting in september microsoft will require proof of vaccination for all employees, vendors and guests in company buildings. microsoft says the earliest date for a full reopening will be october 4th. new york city is the first city to mandate you get the jab to eat at restaurants or go to the gym. straighten me out on the time frame. when does it phase in and when does it take full effect? ashley: the phasing in begins august 16th just under two weeks from now and then a month period and it will be fully enforced starting september 13th.
this is the first city in the country to do this. it mandates people must prove they been vaccinated, both as workers and customers for a wide variety of bars, light entertainment, and this was just being debated. bill deblasio stopped short of making this move. if they did that it would be an absolute nightmare. do you have restaurants, bars and what have you being in the tricky business of our those cards legitimate your showing? is a big effort to counterfeit, just one more hurdle for those that are trying to recover. florida governor ron desantis
double down again saying he would never mandate such a thing for businesses in the state of florida. stuart: this country is split, is it not? airlines down today, mask mandates, one airline teaming up with tech talk and why they're doing it. stuart: american airlines launched a partnership that allows customers to connect to wi-fi on board the aircraft, you get 30 minutes free access without purchasing wi-fi 130 minutes are up, users will be alerted and you have the option to purchase wi-fi, but an apps like tick-tock needs a solid internet connection allowing for streaming videos. that has been a challenge in the past the faster wi-fi is providing more options. more than 90% of its customers
bring a device on board. ipad, smart phone, tick-tock is a popular apps most smart phones can't support so it is heating up. stuart: let's look at the dow 30 to give you a sense of the markets because it has turned around again. we have 26 of the dow 30 in the green and the dow itself is up 200 points above the 35,000 level. hundreds of people heading to martha's vineyard for president obama's 60 of birthday bash. will they all wear masks? we will deal with it next. ♪♪ cry if i want to ♪♪ cry if i want to ♪♪ you would cry too if it happened to you
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invited 500 people to celebrate his sixtieth birthday. joe concha's with us, is this a case of rules for thee and not for me? if it was the trump family they would call the super spreader event. >> what is the dewpoint in washington? you are on a roll. think of this as a second job. it is more like rules for thee and not for diaz and democrats, we see this going on across the country, gavin newsom obviously, the french laundry in wine country or nancy pelosi at a hair salon, laurie lightfoot, this is all during the prevaccination days and that was rules for thee and not for me. i always thought he had good political instincts, you may not agree with him in policy but in terms of optics he kind of got it but in this case he is deaf and blind in terms of the optics on his party. we have mask mandates and even
vaccine mandates or proof of vaccination accelerating across the country and the delta variant is a dominant news story, they invite 600 people to an island most will ride by plane and will be on a private variety because a lot of somebody's coming so so much for curbing emissions and as for social distancing, the large gatherings are not happening but 600 people are 600 people. at last check weddings involve a lot of hugs and dancing. imagine if you recently graduated high school senior or parent of one in your kids prom was canceled or the graduation was virtual and you witness this party at the obamas you shake your head and mumble are you kidding me? stuart: my family party was canceled because of the variant, and president obama goes ahead with his. i will send them rules for thee, rules for me but not for the -- d. you coined that very well.
i want to talk about simone biles in the olympics. how do you think the media is handling it? >> a tricky one. i used to cover sports. she has done it in the past and every documentary you will ever see, women's gymnastics is easily the highest pressure sport in the olympics and all of sports and she has mental health issues to work through a little step back and allow her to choose because given her body of work she has nothing to prove. stuart: well said. perseverance and standing up for herself. thanks very much. see you again soon. to the markets with a real turnaround. nasdaq is up 16 points.
it has been up and down all day. clorox. have a look at that. taking a big hit down 10%. demand has dropped sharply for disinfectants. marriott down today, sales doubled in the second quarter from a year ago. the mask mandate, maybe that is what it is doing its. 11:54, tuesday trivia question time. what color is the sun? i always thought it was yellow every time i squint at it but the correct answer after this.
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we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. stuart: show it to you again. this is the tuesday trivia question. what color is the sun? before we give you the correct answer whatever that may be, ashley, you want to take a guess at this? ashley: i never saw the sun for first 20 years of my life being in england. i would say amber or orange. but i have a feeling i'm wrong. stuart: i would have said the same thing because every time i try to squint at the sun, i see yellowish, orangish, that is what i see. let's reveal the answer. it is white. here is the explanation. when you look up in the sky the sun appears orange because of
the earth es atmosphere, if you were in space you would see the sun's true color which is white. i wasn't expecting that, ash. ashley: as in white hot. it makes sense. stuart: i guess it does. you are relieved of the burden answering the trivia question. ashley: thank you very much. >> let's get serious. big news, serious news coming out of new york today, the mayor, bill de blasio. has mandated vaccines for indoor dining, gyms, entertainment venues. that goes into full effect next month. i think they're trying to push people towards getting vaccinated. because unless you're vaccinated, come next month, you can't get into a restaurant or a gym in new york city. another development, again, out of new york. a new york state investigation has just found governor andrew cuomo sexually harassed multiple women. the report claims cuomo engaged
in unwanted kissing, groping and inappropriate comments. one last check of the markets. we've been all over the place so far today. at the moment we're up 180 points on the dow. i will call that a rally. solid gain on the nasdaq. it is up 36 points. it did start out like this. we headed lower. now we're rallying. neil, it is yours. neil: stuart, thank you very, very much for that. we're still rallying in the face of all the concerns about the virus, its spread, all the companies right now that are really pouncing to not only make sure their own workers are vaccinated, increasingly any of their customers are as well. monitoring that. i first want to thank my colleagues and friends david asman, edward lawrence, jackie deangelis doing a great job when i was out. i wanted to take more time off. they kept telling me neil, they're doing a great job. take your time. i sdale