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tv   Varney Company  FOX Business  November 22, 2021 9:00am-12:00pm EST

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going to be the vice chair of supervision. your thoughts? >> i think with this administration it's historically up to administration nominating a communist for the office, currency and contour. i think it's going to be brainard. she was going to be the pick if hillary clinton one, she is a lefty, she's in mmn t person i think it's going to be brainard. maria: we will be watching this. stuart varney is on, "varney & company" begins right now, stuart varney you'll have a lot about this this afternoon and this morning. good morning, everyone. the president will reveal his pick to share the federal reserve baby today, reportedly today, the democrats are fighting very publicly about bill back better, mass looting and lawless california, yes it
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is thanksgiving week, let's start with something positive. stocks rally in the socket carried away as a modest gain of the opening, we don't know how things will close out. the dow is looking for a gain of 140 points, enclosed at the lowest level since late october bouncing back this monday, recipe f-18 and nasdaq not bad up 74.3 the ten year treasury yield well below 1.6%, 158, bitcoin shy of $60000, it's up to 59 as we speak. this is the item that could move the market whether to keep jay powell or bring in lael brainard either waited to do with rising inflation and tapering money in trillions into government spending, that announcement could move the markets. late development from europe and the covid surge, german says the situation is dramatic, her word.
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the worst ever she says. neighboring austria saw street demonstrations over the weekend, all austrian adults must be vaccinated by february. the only country in the world without ukrainian mandate. the disturbances in holland, police reported five live rounds as covid protests turn violent. over here in the united states the caseloads continue to rise. three violent looting episodes in california. a mob cleaned out right in the middle of san francisco and union square. 80 people rampaged through nordstrom store in walnut creek, they trashed it raised hours later they hit a mob in haywood, not just in california new york city after he called the verdict disgusting, protesters trashed a quiet neighborhood in queens at the very least, this is an embarrassment for democrats.
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of course we are following the dreadful event in wisconsin overnight. a red suv towards her christmas parade killing five and leaving 40 injured. police have a person of interest. it is monday november 22, 2021. this week we give thanks and we shall, "varney & company" is about to begin. ♪ let's get right to this, five people are dead more than 40 are injured after an suv drove into a crowd at a christmas parade and location wisconsin. the latest. >> a person of interest is in custody but this is an active investigation, no motives are being rolled out. investigators are dominating whether this person being held was fleeing crime. police are holding a press conference 2:00 o'clock eastern time today.
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you look at the video it's hard to watch a red suv plowing into the crowd celebrating the start of the holiday season, children are among the five fatalities and members of the milwaukee dancing granny's group a group of old ladies that like to dance and bring cheer during the pervades. stuart: you will keep us up to speed. i just have to tell you that president biden has indeed nominated jay powell to remain as chair of the federal reserve. we said at the start of this, get that off the screen. we said it could move the market and i believe it has, the dow industrials show a gain of over 170 points. that's when we kick off trading at 930 this morning. a similar strong gain for the nasdaq investors like powell that don't like the softer more printing money lael brainard, that is just happening and is move the markets. let's move on. it is an op-ed from the wall street journal, senate moderates
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hide behind joe manchin and kyrsten sinema, senators maggie and mark and catherine cortez masto have been awfully quiet, all are up for reelection in 2022. jason chaffetz is with us this monday morning. are the markets waiting for manchin to lead the way cut back the spending plan, then the emerging group around him and kill it? >> these are not profiles. the united states senators have a big duty and responsibility. the media has not held them accountable and they have not asked them and they have not offered. they have not been leading out on this but the three senators know how devastating their vote in favor of this would be to any reelection effort that they have. you can only look to manchin and sinema as actually being strong enough to stand up and tell people what they believe and why they believe and why they think there are major flaws within the bill. the other three like mark kelly
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in arizona is absolutely nowhere and it's an embarrassment and i think the pay the price of the polls. stuart: you know congress very well having been a former congressman pre-take me through this. the bill back better past the house. now it goes to the senate to be chopped up to say the least. then he goes back to the house. what happens in the house when you have a chopped up version, what happens? >> i been on the receiving end when the senate squeezes you and drops it on your plate. then leadership comes in and say we have no choice. we cannot do anything else we did the best we can. this is why i bid on your show several times telling you it comes down to the third or fourth week of december. they get a partial version of this. i don't think it will be as big and onerous as it is. it'll be a devastating bill and devastating for inflation, the policy is even worse than the
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price tag but i still think the democrats have this desire to raise taxes and to spend more money and i think somehow someway the ghetto version of this across the finish line. stuart: understood, thank you for being with us. i appreciate it. have a great thanksgiving. >> back to the news that broke moments ago president biden will tap jay powell for another term as chair for the federal reserve to get the second term and he's expected to sail through the senate confirmation. the 84 lawmakers who voted for him four years ago, 68 are still in office in lael brainard nominated as vice chair. this ends months of guestworker, now whether or not to raise rates, restrain inflation and when he should do that. what else do we got, his stole your script.
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lauren: the market is higher gold is down and even the ten year treasury yield up over three basis points to 1.58%. it seems like two weeks ago, but a people thought it would be powell and last week it looked like it might be brainard but the white house has nominated jay powell for second term and lael brainard nominated as chair, three said openings are left. stuart: he can get jobs in their for the spending plans. the market has gone up on the jay powell news. what else we got this week. susan: retail earnings, the tail end with several companies, dick's sporting goods, dollar tree and gas, on wednesday you got dear black friday thanksgiving, it officially kicks off the holiday shopping season in the national retail federation we will spend a record $851 billion up almost 10% from last year and 2 million more shoppers this year that
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kicks off. stuart: starting off strong this morning. let's go back to futures you can see the market is rallying as we head towards the opening bell investors appear to like jay powell stain on his venture. jason katz with us this morning. these markets are rallying a little because jay powell stays? >> is a collective sigh of relief. the markets wanted the chairman who brought us to the party to bring us home. the last thing that they wanted was somebody extraordinarily dovish who could exacerbate was already an inflation issue that is a little bit more if not a lot more persistent than everyone hope for. stuart: are used to buying any and all pullbacks? >> selectively. i'm using covid spikes in lockdowns in europe as an opportunity. it's an opportunity because of the playbook that we revisited
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countless times, cases rise and we see cyclicals down in reopening stocks down and we see tech rally and that the consumer proves to be as resilient as he was she has always been and then we see a reversal there. the answer is yes, you will be targeted to your approach when you get this pullbacks because we do think that the very valuable especially when it comes to european equities, small-cap, mid-cap, things that are cyclical in nature. stuart: we will remember that, thank you for being here, see you again soon. i want to put tesla on the screen, premarket and nice gain. it is up 2.3%. tesla stock is up on news that the model s plan will arrive in china in march. there is more to the tesla story, we have leaked e-mails which elon musk sent to his tesla employees, what did he
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say. susan: there addressed everybody in the first shows an approachable boss, he wants everyone to be happy, i very much support music in the factory as well as any little touches that make work more enjoyable i care that you look forward to coming to work every day. we like that elon musk. >> astern ceo. he says this if an e-mail is sent from me with explicit directions there are only three actions allowed by managers, e-mail me back to explain why what i said was incorrect. sometimes i'm plain wrong. request further clarification or execute the directions. if you don't do that you be asked to resign immediately. lauren: be prepared to speak up, confront him and tell him why he is wrong or do as he says. stuart: and nice boss. it goes up 1165, good stuff, back to the market overall we open up at about 18 and a half minutes and were going up.
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airline travel is back, it was pre-covid days. today is the day when tsa workers have to be fully vaccinated. how is that going to work out this holiday season will take you to the new york airport. right now bill back better will not increase inflation. listen to this. >> experts have looked at it and concluded it will increase inflation because it's paid for. stuart: pay for? we will certainly get into that we have a great show just ahead. ♪ (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do.
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stuart: the news is out president biden chose jay powell, the market likes it, stephen moore with us this monday morning. fed chair powell stays, are you like some of the market breathing a sigh of relief that powell stays, how about you? >> i am. i'm not a huge fan of jerome powell i give him a c grade and handling, i had lunch with president trump a week and a half ago and he was really against powell, powell was too tight when he should put more money in the economy around 2017. now he's way too dovish. that being said, lael brainard would've been a disaster at the fed, she wanted to make climate change in the gender equity issues a mandate at the fed. the fed should have one mandate and that is keep prices stable.
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i'm with the market i think this is a wise decision by the biden white house. it's really interesting if you look at history recent democratic president and reappointed republican appointees to the fed. you go back to bill clinton, i may be wrong about this, but i believe that barack obama reappointed at the fed, now you have the third reoccurrence. that is because you can't trust democrats with money. i think there is a sigh of relief. >> democrats have been around and trust republicans with the money. white house advisor, brian will will not cost a penny. watch this. >> there's no question inflation is high it's affecting american consumers and their outlook. that is actually why we need to
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move on the bill back better bill right now. experts across the board have looked at it and concluded it will increase inflation because it's paid for. stuart: experts across the board won't increase inflation because it's paid for, take that on. >> if you believe that you probably believe al gore invented the internet. this is very simple economics, this is not complicated. i hope the people in the white house understand this that inflation is too many dollars chasing too few goods. the house of representatives passed, we don't know the exact price tag. that is going to increase consumer demand and there is nothing in this bill that increases the supply of goods. it'll reduce the supply of goods and services that it raises tax rates. this is going to be clearly inflationary, how inflationary, we will see but our only hope is
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as this goes to the senate the bill gets killed, kill the bill, you saw jason earlier, he is right at the very worst possibility the democrats will cut this bill in half and hopefully get rid of some of the worst. this bill according to the wall street journal raises american tax rates for the highest in the world we are supposed to be the land of the free and we can have the highest tax rate in our small businesses, how does that increase production of goods and services. stuart: is a reversal of prosperity in the strategy that started with ronald reagan and moved to donald trump. that's the policy. you cut taxes, small government. this is a reversal. one quick thing a gallon of gas right now the average is $3.41 since a gallon.
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>> it'll be $5 a gallon of gasoline in both california and new york there are many stations that are charging more than $5. it's quite possible that you will see. you're showing the crude oil price right now and that is falling and the reason for that the european countries are moving towards lockdown, this is a big story lockdowns are back in europe and if you do that you can have a collapse in demand. that's a terrible reason for the oil price. stuart: thank you for being here, we will see you again real soon. >> have a great thanksgiving. stuart: i have an op-ed in the los angeles time as a solution for the supply chain crisis. what do they have in mind? >> it's a very woke piece about the supply chain, here is the quote. increasingly americans are
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learning about the final steps exquisitely crafted in the supply chain, us, targets identified how we have been schooled by the supply chain. in part because it's been happening for so long the piece goes on to provide a history lesson saying supply chain was on white supremacy, supply chain workers have gotten tired of being treated like animals in the author ross patel. stuart: there is room for debate i suspect. >> the university of texas professor. stuart: checked the futures it looks like we could be in the green across the board when the opening bell rings and eight minutes. ♪
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stuart: i see green when the market opens in a couple of minutes time, keith fitz is with us now, the markets like that powell is sticking around, do you? >> yes, i do, i tell you what it
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is a relief we don't politicize the fed we get a steady hand and more importantly i believe that traders do not have to have a knee-jerk reaction to a change in policy. stuart: a separate case the pentagon has awarded hypersonic defense contracts. that follows china tested the hypersonic mistrial five times faster than sound, you telling your clients to buy that. >> we've been on board with lockheed martin and raytheon for quite some time, and north rob is anyone. >> are all great companies we own them for different reasons to begin with, you have intelligence provisions, space programs, all of these things are already there this is sputnik 2.0, the united states
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is got to respond to the only company capable of the mounting response. we do want to own them because this is the playbook going forward in the next ten years. stuart: are you on track for more gains to this year next year, your nodding your head are you still onboard with the rally. >> has to go through confirmation, if it stays with us as the unknown that we could have had all that money could go to the world's best companies in the united states at the moment. stuart: there's an optimistic scenario developing. the supply chain problems are easing, price of oil is down to $75 a barrel implying that gas prices, the rising gas prices may ease. that is an optimistic scenario for next year, are you buying it. >> here is interesting there's a lot of headwinds, it's a bright
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idea, i don't think the supply-chain bottlenecks are easy. what i see happening is innovation across the board overcoming it, that's a different scenario and why i want to play forward, it's one thing to sit back and watch the world go by but america, innovation, these are things that help the world go by. that is the investment that you want. stuart: all of your clients money you put into stocks at this point. >> you have got to own other things, you have to have several other things and concentrate in the world best companies, margin protection and inflation protection, there is a lot of themes running through what were doing. it's not exclusively stocks, your volatility and leverage in the system. that is a risk. but going forward the single biggest tragedy would be missing opportunity unfolding did not train to avoid the risk that you can't control. stuart: all try to avoid missing
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opportunity. you have a great thanksgiving, thank you for being here. 20 seconds to go. the president has picked jay powell to remain as chair for the federal reserve lael brainard will be vice chair, investors like that and that's why the witness market opens as of right now you will see some upside movement, here we go, how do we open. the dow is up 125, 5700 right from the get-go the dow 30 is in the green, the s&p 500 is moving to the upside. a pretty good game of .4%, that is 19 points, the nasdaq composite is up the same amount, .4% that is an all-time high, and intraday high big tech is doing well across the board
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apple, meta, facebook, all on the upside, now look at tesla, elon musk tweeted about the model s plan coming to china. lauren: they will sell the high-end tesla that cost 130 grand this is a good thing if they sell in china in march they make more money per car, also has a longer charge, 520 miles in the lucid air model which is certified by the epa the longest range on the market this is a good thing in the car market china is the main reason tesla has hit $1000 in the record number of cars expected to be delivered this year thanks to shanghai which is not only making cards for the domestic market but also for the european market as well, can i just throw in my thoughts on jay powell. i want to show you the market moves, significant young the tenure yelled going past.
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25 basis points being priced and in june. obviously jerome powell extended for a second term seen as more hawkish as lael brainard who would've came in a bit more dovish and gold has dipped down as well. stuart: the market likes jay powell. susan: i am a bit disappointed, i thought that they set the tone and the markets for putting in somebody new like lael brainard. the fact that you have the new name being brought up over and over again i think that was testing the markets and investors on how they react. stuart: the progressives are not what be happy they wanted lael brainard. the supply-chain issue, let's look at apple, 162 this morning. is the supply-chain issue hurting apple? lauren: obviously not. we have the news reporting this and they do channel checks across asia and what they say is apple won't be able to deliver new ipads in time for christmas
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and key asian markets. the good news the iphone delivery delays are not as long, so far in a typical year but i don't think this is new because you heard the consensus from the executive team and i spoke to the master means that they will try to reemphasize, save their parts for the iphone which makes up 50% of the revenue. i stopped to give ketchup for apple stock, it's not the self driving car, the electric cart in 2025, the fact that apple has underperformed tech names like google, amazon. this is the rally. stuart: is broken out to $162.94. then we have activision, down 3%. the ceo could be stepping down. susan: that's a big deal. he has been there for 30 years, he told fellow executives the open to leaving the company and he can't fix the problems, this
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is reported, really harsh criticism internally of sexual misconduct including rape which is very severe, also harassment, federal investigation on and customers like xbox say that they may not be able to work with activision blizzard because of the obligations in 70% of activision. stuart: that is trouble for the company spieth entries before this is a huge game maker, games are bigger than entertainment. stuart: a major upset in a major gaming company. read the end i believe they are down, it is down 7%, that is a drop, what happened to their plans to develop with ford. >> i wanted to ask if you were surprised, they are going their separate ways are not going to collaborate on electric cars together and they struck a deal
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in 2019 to make an electric car model one day. ford got a very good deal, they got 12% of the company for $500 million in 2019, do you know how much a $500 million stake is worth today, 13 and a half billion dollars. that is a pretty good profit. the ceo says is probably because ford can go alone, they feel confident doing it themselves. rivian says were worth $140 billion we can do it alone two. stuart: this fascinates me energy people and drink people looking to merge with a gigantic alcohol producer. stuart: is there synergy between constellation, alcohol and monster. susan: let me ask you about that, it is that because he could be getting a premium, constellation isn't that much,
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energy drink along with alcohol, this is reported by bloomberg and assisted to might be worth it, to $92 billion combined market cap company and as you know is spirits and consumer brands, you have to get bigger in size matters of course. >> with vodka added to it. susan: we keep talking about hart seltzer, that has been high selling brand. different beverage cavities have been diversified, coca-cola by the energy drinks and they're getting into hart seltzer's. there is diversification that has to happen for a variety of drinks. stuart: that's a look at the dow winners. susan: j.p. morgan chase. have you read the story about how jamie dimon and elon musk don't get along. it was on the front page of the wall street journal. they do not get along. stuart: what's the problem. susan: for many years, they say
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it might be personality. stuart: tesla is on the s&p 500 list of winners. now show me nasdaq. we have tesla right at the top. nvidia when you talk about that come up again. a big gain. overall we've been open for six and a half minutes in the dow industrials are up almost a half a percentage point, 162 points. the ten year treasury briefly went back above 160 now it's 159.4 still up on the day, price of gold down $36 that is nearly 2% of 1818. bake when struggling, $58000 a share, gold is back to 1818. i think we got that already, can you give me oil, this is important. 472. oil is at $75 a barrel this morning, that is a big deal that was suggested in future the price of gasoline might not keep on going up, it could come down
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it is holding steady at $3.41 a gallon, by the way you will pay a dollar 30 more for the same gallon of gas in california where it's reached $4.71. $4.71.susan: the s&p 500 hit a d high, lower oil prices is more for consumers. stuart: lots of reasons going on today. coming up msnbc host tiffany cross blasting republicans after the rittenhouse verdict. rotate. >> i find these people disgusting that they roam the halls of congress freely. stuart: why is everything racialized. he will take that on a little later in the show. up to 80 leaders ransacking the nordstrom's in california. we have an eyewitness he was taking a walk when he saw the second breaking out. protester vaccine mandates and lockdowns picking up across
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europe people want their freedom. we have the latest on that. ♪
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>> absolutely, with a bit of a crisis averted. today is the deadline for tsa workers to be vaccinated but that was the original plan. agency is saying they view today's deadline as less of a cliff and mooresville learning opportunity for the unvaccinated workers. >> tsa telling fox business they view this as progressive discipline as a period of counseling and education intended to reach 100% vaccination status they will still be employed and working being vaccinated tsa workers. last checked 40% of u.s. airport security screeners have not been vaccinated. but they will be on the job today from what we learn. the manpower is needed because it's estimated travel will be close to pre-pandemic levels, it
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is anticipated screening 20 million travelers since holiday travel week. because of that they are recommending people arrive two hours before the domestic flights. people we have spoken to today said they're not leaving the travel plans up to chance and they're getting early. >> we are getting your three hours because there's a lot of people thought it was going to be packed. we are not familiar with this airport. we just want to make sure we have plenty of time. >> plenty of time of what tsa is recommended. to make matters worse, we are anticipating seeing some storms rolled across the u.s. and are ready strained travel system, budget a little extra time. stuart: thank you very much indeed, mass protests in austria in response to the lockdown in the government vaccine mandate, doctor siegel is with us this
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morning. do you approve of the pushback against lockdowns and vaccine mandates, should be pushback against this? >> certainly because the way that you're talking about in austria they don't have any science behind that. lucky dumb people not only large noises them that makes them feel that the limited totalitarian state it also doesn't work because the way the covid spreads, it spreads in the air so if you locked two people down especially poor people they will spread more covid. that is number one. number two the way that this works, it is not working from a political point of view, you have neo-nazis in the crowd of all people protesting to totalitarianism what craziness is this. the way that they should work, austria is a problem, 64% vaccinated we needed to be 90%, the way to do that is to talk to people and explain things, not put people under threat, when you do they will fight back.
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explain why the vaccine works, explain why the vaccine is better than covid. explain that and don't use the pulpit and drawn people and don't use totalitarianism. medically lockdowns don't work, you marginalize people and ostracizing it won't decrease spread. stuart: we have a new report that says 1.6 million people who had covid has still not recovered their sense of smell. i guess the long covid and the dangers. you lose your sense of smell. >> that's how you make the argument for the vaccine, you just said there are studies in nature and elsewhere that shows that there's up to 40 - 50% chance that you can lose your sense of smell and taste with covid and then there's a chance of 5 - 10% that you will never get it back. that's enough of a reason for me too get vaccinated and most of
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my patients. this is occurring because the nerves in the no's. i know you have a fascination with science. the sensory nerves have support cells and those are infected by covid, because covid goes right for them and those cells and it numbs the nerves, most of the time it recovers, not all of the time, long term like brain fog and loss of smell are enough of a reason to get vaccinated right there and that's how we should talk to people. stuart: get vaccinated and don't mandated. thank you for being here. see you again soon. disney world are easing the vaccine mandate. what is a story not under their. susan: they put the mandate on hold because the florida band. governor desantis made it illegal for state employers which is designed to acquire workers get the vaccine, if you
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violate the size of this new year find $50000 per violation. disney is breaking so much roll either way. the administrations will even though that's been challenged with the vaccine mandate for the state of florida. either way you can make the argument that biden got what he wanted because more than 90% of the cast members are fully vaccinated. stuart: that is complicated. susan: i wonder if there's lawsuits that they didn't want to get vaccinated and now they didn't you say you don't have to. stuart: the course will be there at some point. alexandria ocasio-cortez holding president biden's feet to the fire, she knows the senate will make significant changes to the social spending bill. she is issuing a warning to the president. don't cave, that is the theme of my take at the top of the 11:00 o'clock hour. he is testing the ford maverick, the cheapest model, the question is can you get one?
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stuart: what you're looking at
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is a ford maverick which happens to be ford's cheapest model on the market. gary is test driving it for us. gary, tell us how much it cost and then tell us how much it drives. >> this one which is the entry-level model, 21 and a half thousand dollars which makes it ford's cheapest pickup you could buy and it comes standard as a hybrid, the cheapest hybrid you could buy 37 miles per hour gallon in a compact pickup they also make a turbocharged that cost a little more in more powerful that is on sale and ford is moving through in five days, this one will be in dealers in january, ford already has 100,000 reservations for the maverick which is one size smaller than the ranger. ford very nice package it's hard to believe you can get this much truck for that much money afford a half foot bed a perfect
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picking up your christmas trees or your mulch or sheet rock, not a heavy holler 2000 pounds which is front wheel drive but it can all 1500 pounds of cargo and the people inside of the cabin. this is a new segment is a new exciting for ford and embodies what they're about all they make is suvs and pickup trucks this is basically a combination of those two things. so far it's been doing really well, out sold the santa cruz which is a similar model, is really on track to be a hit, a 37-mile per gallon rating is concerned, it gets exactly that while testing at the locks and thomas couple of days. stuart: did you say 37 and a half miles per hour gallon. >> that's a combined fuel economy, 33 highway, the highway at been getting 40 miles per hour gallon it's really
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incredible and i cannot believe they can sell as cheaply as they do. stuart: thank you very much indeed. still ahead charles hurt, match lack, jack keane, nigel farage. the 10:00 o'clock hour of "varney & company" is next. ♪ ♪♪ ♪♪ . .
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♪. stuart: good morning, everyone. 10:00 eastern and you better take a look at money because it is doing real well this monday morning. the president has nominated jay powell for another term at the federal reserve and the markets clearly like it. at this moment the dow is up, two, 283 points, about .8%. the nasdaq is up .74%, and the s&p doing very well, thank you very much up .85%. that is a stock rally all across the board. the treasury 10-year, 10-year treasury should really call it,
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1.58%. the yield actually moved up on the news today. bank stocks, they're also up on the fed news. investors and bank stocks did not like the idea of lael brainard chairing the fed. they don't have to worry about that, jay powell stays on. the big deal for realtors just breaking. the numbers on existing home sales. this is what realtors live by. what's the number? lauren: surprise increase, pretty sharp one at that. 6.43 million units sold in month of october on seasonally adjusted annual rate, a rise 1% from the previous month. stuart: that is very strong. highest since january i believe. lauren: looks about right. highest since january. here we were thinking not enough homes on the market to get sales up again. 6.34 million on annualized basis. that is as strong as i have seen it for a long, long time. the markets responded with another small move up, dow is now up 302.
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nasdaq up 132. s&p, close to a 43 point gain. now this. on friday evening hours after the rittenhouse verdict looters cleaned out a louis vuitton store right in the middle of union area san francisco. on saturday a mob terrorized shoppers. 80 cleaned out a nordstrom store. assaulting employees. smashed the place up. masked, organized looting. couple hours later, 40 or 50 people terrorized a store in hayward, looted a macy's this is chilling break down of public order. this is not limited in california. in queens, no, so-called protesters trash ad neighborhood. they threatened residents. one of those arrested was a teacher from new jersey. in california the mayhem can be laid directly on the local
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democrat authorities. hard to believe but before looters are charged over there, the police must identify their needs. you can steel it if you need it. what nonsense is that? in new york the mayor called the rittenhouse verdict, quote disgusting. the violence quickly followed. you can dismiss this at antics of the far left democrats but not so fast. the biden presidential campaign and that of his vice president was founded on a disruption of order. defund the police, challenge white supremacy, racialize everything. yet another self-inflicted wound, a wound inflicted not just on the president's party, the democrats but the whole country. second hour of "varney" just getting started. ♪. stuart: charles hurt with us this morning. no need to smile. this one is on the democrats,
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charles, right? >> yes, indeed. and like you say it is perfectly obvious who is responsible for it. this starts at the very, very top. you have people like joe biden, kamala harris and entire democratic party, if you run on a platform of defunding the police and celebrating these riots you know what you get? you get mayhem like we've seen and it is so interesting when you sort of put it in the context of the kyle rittenhouse trial and people condemning kyle rittenhouse somehow being a vigilante, execute vigilante justice, that is not at all what the rittenhouse trial was about, it was about self-defense as the jury spoke on that front. look at rioting, looting, that is vigilante justice. that is vigilante, it is not justice, but vigilantism, where a bunch of people who have been encouraged by politicians to go out there, i've been wronged. i should have more in life than i'm getting.
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therefore i will go take it. that is vigilantism. that is appalling. it leads to a total breakdown of society. stuart: something you wrote in the "washington times," i will tell you what you said. congressional republicans are playing to lose. what do you mean by that, charles? how do they play to win? >> yeah. you know, stuart, this is the problem where you have a democratic party, people like to say the democrats do more for republicans than republicans seem to be ever able to do for themselves which is kind of true. when you have the scenes across this country, celebrated and supported by democrats, voters have nowhere to go but to republicans. the problem with this for good american citizens is that if republicans are running just to get republicans elected, that is not going to help. that is not what people want. people want solutions. they want this madness to stop and only way you do that if republicans, instead of running not to lose, they have to run
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with a clear vision for how they want to sop the madness and fix problems for ordinary american citizens. that is what we want. we don't care, if that gets republicans elected, that's great but that's just sort of a, that is a side-effect what we really need. what we need is the madness to stop and we need real adults to take charge and solve these problems. stuart: yeah. have a great thanksgiving, charles. we'll see you again real soon. >> you too. stuart: appreciate it. thanks a lot. take a look at market for a moment. news items coming up here, jay powell stays as chair of the federal reserve. we have a rally across the board. dow is up close to what, 300 points, nasdaq is doing very well as well. set this in context of a nice move up for the market first thing on a monday morning. now look at disney, put it up on the screens just briefly there. disney is an interesting company. their stock has gone from $200
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all the way down where it is now which is 154. that is quite a drop. bring in jeff sica who follows disney very closely. a market commentator from a long time ago. welcome back. ceo of disney, gambling, gaming, through espn will bring disney back. do you have your doubts on that? >> here is the thing. i think if walt disney were a live, there is that urban legend that he is cryogenically frozen, if he heard disney would go into the gambling business would be turning around in that tomb and reality for disney had a dismal year. as you mentioned, down 15% it is nemesis, belle of the ball, netflix up 30, almost 40%. they have not been able to get traction. they were going to, they were doing very well in streaming two quarters ago.
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they had 12 million new streaming customers. now they're down to about 2 million. they still have over 110 million but there are other silos need to start doing well. gambling in five years, online gaming will be 160 billion-dollar industry. it has been growing consistently for the last five years 10%. so they have to do something and this is the route they're going. stuart: do you think it will work? >> i think it will work because espn is leveraged. espn has the, they have their claws into the sports. as a matter of fact if you look at espn programing, for sporting, disney's programing for sporting events it has been up 90%. so yes, they can do very, very well with it but it is, it is a jolt to their squeaky-clean image. now this is, you know, what i was saying, i said to someone
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earlier, now what's next? cannabis? it is really their attempt to make themselves relevant and compete with netflix that is cleaning their clock right now. stuart: they're cleaning their clock all right. jeff, thanks for being here. thanksgiving to you,. >> to you too. stuart: i'm looking at a stock called astra space. put it on the screen. 32% higher. you want to comment on that, lauren. lauren: they sent a rocket for the first time over the weekend. elon musk offered congratulations. astra space, rocket lab, virgin orbit, a small but growing group of private u.s. companies are reaching orbit in privately-funded rockets. it's a big deal. it is a relatively new company, as interest space. it is five years old. stuart: the private space industry is fascinating. not into it but as interest space looks interesting. lauren: wynn resorts, shares up 3 1/2%. resort operates to in asia are
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higher. reports that border and hong kong can reopen soon. that means more business for macao,. stuart: rent the runway. lauren: good news from a lot of brokerages, morgan, goldman initiating coverage. business of renting clothe something in the early innings. people going back to work. goldman calls rent the rain way a leading company. stuart: i never understood it, renting clothing. >> if you have a vacation coming up, $100 something a month. they find a size, send you clothes. your closet doesn't get big and full. send them back when you're wearing them. always something new to wear. stuart: sounds like you know. lauren: my friends use it. i am too short to use it. i have to hem everything. stuart: activision blizzard someone leaving the company? lauren: allegations of
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allegations and sexual miss conduct allegations and didn't tell the board. equal pay violations. disaster for the company. hurting share price. "the wall street journal" is telling something, ceo bobby kotick said he would consider leaving if he can't fix the problems. okay, i will consider if i can't fix it. doesn't like the ceo of 30 years is going away anytime soon. i could be wrong. stock is down five days in a row. stuart: huge player in electronic games. it is down 2 1/2%. that is quite, 2.2%. big drop there. lauren: down for five days. stuart: more to the point. dr. fauci says health officials may need to change the definition of fully vaccinated to include booster shots. what does that mean going forward? shots every year for everybody? we've got the story. remember when beto o'rourke vowed to take away your guns? roll tape. >> hell yes, we're going to take
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your ar-15, ak-47. will noll be allowed it to be used against fellow americans anymore. [cheering] stuart: he is from texas. he is now doubling down on that claim. he wants to be the governor of texas. media blasts republicans as white supremacists after kyle rittenhouse is aquick ited. roll tape. >> welcome to the modern republican party. this is what these people want. this is what a majority of white people vote for. >> the math that white supremacists roam the hauls of congress free freely, celebrate the murderous white supremacist. that these people have access to instituting laws. stuart: pastor darrell scott will take that on. the pastor is next. ♪.
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stuart: i will call this a monday morning rally. the dow is up 280. jerome powell staying as fed chair. the market likes it. microsoft, apple, home depot, they're all dow stocks, together they had 165 points to the dow jones average. there is this, msnbc host tiffany cross blasted republicans after the rittenhouse verdict. listen to what she had to say please. roll it. >> i find these people disgusting, the fact that white supremacists roam the calls of congress freely, celebrate this little white sue prem sifts he gets to walk freely, these people have access to
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instituting laws. stuart: look mo is here to answer that, pastor darrell scott. i was about to say old friend and brother. you and i did the bro hug. >> it went viral too. stuart: i believe it did. the msnbc host, talking about white supremacists roaming the hauls of congress, how do you react to that. >> that race card is one out of the deck of cards in the pen 10ry. they need to stop identity politics, continually engage? they know the midterms are coming out. they're getting out there with this identity politics, racial narrative to try to gloss over the ineptitude of the branding the, the biden administration. stuart: darrell scott, what did you just say? >> they want to secure the voting block, the black voting block, they delivered on none of the promises made to the black community. there are racist, everybody is a racist. don't vote for them.
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everybody is a racist. stuart: why is everything these days racialized? i don't understand night that is all they have. they are requiring to rouse emotions. they don't present intellectual or economic options to convince a voter vote for them. they corral the emotions. there are a number of people will say i won't vote republican, i will not vote red, because they are racist t clouds me from receiving anything else they have to say. they have the racist narrative put on them. that is big facade. i see them do it. not as effective. tiffany cross sounds like a fool i will say it, she sounds like a fool. stuart: people are buying that, are you firm -- >> they're not buying it especially the black community. the black community has biden remorse. the word on the street we were hoodwinked, bamboozled. biden tricked us. biden's entire political history is identity politics. he swingses to whichever side
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the pendulum on. with this white supremacist narrative he jumped on that. called kyle rittenhouse a white supremacist. one minute i abide by the jury verdict. next minute i'm angry and concerned. he is a old man doesn't really know what he is talking about. it's a shame. it is a shame that he did that. stuart: i want to change the subject because you got something, you brought something with you, an app. don't have the app in your hand, i understand that. it's a revenue raiser, a revenue stream for churches. >> yes. stuart: the app is called religion, quote, right? it is on the screen. >> data vault for churches, data vault for churches. >> big tech has been taking stealing, profiting off of our data for years. we go on the different big tech, social media, whatever platforms, they take our data, sell it. we have no control or revenue from it. data vault is a system where we take control of our, we secure
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our own data. increase the value of it. create value for it. mine it. secure it. we place it on our exchange an monetize it. we have the system, datavault for churches, parishioners donate their data to the church. the church in turn through our exchange, you know, you donate money to churches, whatever, because of the pandemic a lot of churches were suffering financially, you can donate your data to the church. the church monetizes it on the exchange, creates value for it, monetizes it. when i'm talking about millions upon millions of dollars in revenue that can come into the church. the amount can come into the church can, is pretty unbelievable. we have hundreds of churches signed up so far. i want to encourage every other church to contact data vault and sign up there will be a revenue stream. it is fantastic. stuart: data vault. religion. i got it. pastor darrell scott. >> we can't do the bro hug.
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stuart: great to have you with us. >> god bless you. stuart: good luck. thank you. next case, kyle rittenhouse sat down with tucker carlson in his first interview in being acquitted. here is the sneak preview. >> this case has nothing to do with race. it never had anything to do with race. it had to do with the right of self-defense. >> right. >> i'm not a racist person. i support the blm movement. i support peacefully demonstrating. i believe there needs to be change. i believe there is a lot of prosecutorial misconduct but not just in my case but other cases. it is just amazing to see how much a prosecutor can take advantage of somebody. stuart: the full interview will be exclusively aired on "tucker carlson tonight" on 8:00 p.m. on the fox news channel. stuart: beto o'rourke running to be the governor of texas. he is doubling down on his pledge to take away our guns? lauren: hell yeah. stuart: in texas. >> hell yes.
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we'll tell you two sound bites. you will first hear beto o'rourke at the democratic presidential debate back in 2019. then yesterday on cnn here you go. >> hell yes, we'll take your ar-15, your ak-47. look, we are a state that has a long proud tradition of responsible gun ownership and most of us here in texas do, do not want to see our friends, our family members, our neighbors shot up with these weapons of war. so, yes, i still hold this view. lauren: is he right? protects the second amendment but not for military-style weapons and he did support mandating buybacks of assault weapons. we'll see where texas comes in. but you have the most gun owners in the country in texas. that might be a losing issue. stuart: i would suggest it is. lauren: but you have the austin parts of texas who might agree. stuart: it's a big state. big state. lauren: i know. stuart: there is more. on the race in texas. new poll shows matthew
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mcconuaghey on top. what is going on? lauren: he hasn't even announced to run. hypothetical matchup. university of texas "dallas morning news" poll shows mcconaughey with a 8 point lead over governor abbott, 22 point lead over beto o'rourke. he carves the middle ground. we're not sure if he did run mcconaughey if he runs as republican or democrat. my guess republican if he runs, in a three-way matchup governor abbott wins according to this poll. stuart: i try to understand this. less than a year into his presidency, there are widespread fears that the president is not up to the job. he is surrounded by crises of his own making. "wall street journal" guy dan henninger takes that on a little later in the show today. >> >> jerome powell has been nominated for a second term in of fed chair. market likes it. edward lawrence has a report from the white house after this. look at the market go up.
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♪. stuart: what is wrong with a little jimi hendrix at 10:30 eastern time on a monday morning. nothing wrong with that. we're looking at, we're looking at missouri, markets are well. green across the board. dow is up 260. nasdaq is up 127. "axios" is reporting that target will close their stores on thanksgiving for good. that is the way it will be in the future. they're not opening stores on thanksgiving ever again. so they say. stock is down 2%. susan, you're looking please, please look at nvidia. lauren: we have nvidia stock on wall street bets past 24 hours. a lot of retail interest.
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need bullish comments from nvidia ceo, nvidia dominates the omni verse in the future. citi coming out saying nvidia is among top 10 favorite stocks among stock-pickers. he includes the billionaire hedge fund managers. shoal you vinage, buying cloud communications company for $6.2 billion. largest acquisitions they have made in years. so that is a bump to vanage. microsoft, chose this for you, stu. wells fargo initiating coverage of stock, to overweight. $400. that is close to high price target. stuart: i'm not laughing. astonish in the. honestly. ly. susan: love it. stuart: i love it but. susan: margin expansion, microsoft is one of the largest tech companies in the world. a thumb's up for them. stuart: i take it.
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up six bucks. my goodness, my, that was a great report, susan. thank you very much indeed. you're really cool. all right. president biden has nominated jerome powell as fed chair. edward lawrence at the white house. do we know what led to that decision, edward? reporter: a lot of conversations from a lot of different people president was talking with, both sides, all sides trying to get their push through this. the president made the announcement for two spots here. has three more seats we can fill on federal reserve, potentially if he would like to. in this he announced federal reserve chairman jerome powell stays the head of the fed. lael brainard, the governor, becomes number two at the fed as vice chairman. the source familiar with the process, the president took, tells me president biden met with progressive and moderate democrats throughout the process. the president recently met with senator elizabeth warren for her input. the source added president biden has been in close and regular
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contact with senator sherrod brown on the senate banking committee. he is the chairman. powell and brainard were told about the decision last friday, in a statement from the president, biden says this. i'm confident chair powell and dr. brainard focused on prices stable. deliver full employment will make the economy even stronger than before. together they share my belief your gent action is needed to pose economic risks as climate change and emerging risks of financial system. in powell's corner thought this was treasury secretary janet yellen, they work together when she was the fed chairperson. she says this in a statement, quote, steady leadership chair powell and federal reserve insured the american economy recovered from once in a generation economic crisis. there was a last minute push by senator warren to try to remove and replace fed chair powell. he will likely here a lot about
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that in his confirmation hearing. brainard in her confirmation hearing will hear a lot about from republicans how far she wants to regulate banks. stuart: edward, thanks very much indeed, overlooked the news report is terrific report on real estate. existing home sales roseanne all rate of 6.34%. sorry, 6.34 million, that is a very big number. mitch roschelle is our real estate guy. he joins me in new york city in the flesh. >> thank you, stuart. stuart: to me that is a very strong number how about you. 100%. >> i was expecting quite hon necessarily things would slow down. fear interest rates could go up. i thought that would chill the market a little bit. we're in the not dynamic time of the year, not the springtime. i thought things were going to cool down. not at all. the fact that interest ratesbe
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going up to get people race to the goal line. stuart: how about next year? are there more homes coming on to the market? is there still a dearth of supply? >> redfin, which is one of the two big online retailers, big competitor to zillow, redfin says they see a flood of homes hitting the market. i was trying to figure out why and get behind that doing my informnal survey of realtors, interest rates going up could be the thing that breaks the cycle. the fear that interest rates will go up, prices may tamp down a little bit will get more people to put their houses on the market. some people who are not putting people on the market. you and i talked about the fear people may not be able to buy something, in the bad cycle of no supply. you hear about greed, you pushed back on me, people are waiting, why sell now maybe because i can get $50,000 more if i held out. those people are saying, stop holding out, let's put our house
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on the market. stuart: if we're selling homes, not you, country, selling 6.34 million units a year that implies the demand is very, have he strong. are there still bidding wars? >> there are. i think they are little bit less bidders. this time of year we see less bidders. if it was springtime we would see morbidders. what we need is supply. less than three months supply on the market. things are getting gobbled up. if you look at less expensive homes, 250,000 or less, we're seeing that cooling a lot more than million dollar plus homes. inflation if you think about it, if oil and food, prices are going up and you have a mortgage payment also, you have a finite wallet for somebody buying a 250,000-dollar home. so they're not going to be bidding up a price if they're worried how to make the mortgage payment. stuart: true. i still think there is a lot of people who made money in the
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stock market, borrowing against their stocks, to buy million dollar homes outright. >> the million dollar plus market, 100%. what happens is those end up being cash buyers because they're showing up with the closing borrowing money from another source. the big brokerage firms. they are peddling that product like crazy to borrow against your stock portfolio at a rate than you can borrow if you took out a mortgage. stuart: why not? mitch, great thanksgiving. >> thanks. stuart: thousands take to the streets in vienna to protest austria's fourth lockdown as covid cases absurd. vaccine mandate for all adults in austria. will more european countries follow their lead? nigel farage will deal with that. he is in the show, on the show next hour. we know the identity of the suspect who drove through the christmas parade in waukesha, wisconsin. grady trimble has the full story
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from the ground there. he is on the show next
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. stuart: markets in rally mode this monday morning. up two-thirds of 1%. nasdaq is up almost 3/4 of 1%. plenty of green. five dead, more than 40 hurt after a driver rams through a christmas parade in wisconsin. grady trimble is there. grady, what are we learning about the driver? reporter: stu, multiple senior law enforcement officials tell fox news a 39-year-old named darrell brooks is being questioned in this. he has a lengthy criminal history and there are reports that indicate he might have been fleeing another crime scene, a possible fight in nearby park when he breached the barricades of that parade route. we want to warn you the video
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we're about to show you may be hard to watch. but you can see the red suv speeding through the route, plowing into and over people in its way. at least one police officer tried to fire at the vehicle to try to stop it from continuing along the route. school bands, dance troops, either community groups were performing in the parade. the aftermath was chaotic with items scattered around the route. parents calling for their kids. five people are dead. more than 40 are injured, including more than a dozen children. >> today our community faced horror and tragedy what should have been a community celebration. i'm deeply saddened that so many in our community went to a parade but ended up dealing with injuries and heartache. reporter: schools in waukesha are canceled for the day. main street where the parade was
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going on behind me is still blocked off with all of the businesses closed as police still investigate. stu? stuart: dreadful story. grady, thank you very much for bringing it to us. united nations has released a report warning that global supply chain issues may drastically hike import and consumer costs. what kind of increases are we talking about. lauren: for computers and electronics up 11.4%, for turn ture clothing up 10% between now and 2023. that suggests that inflation sticks around for at least another year. i gave draws tick example, prices increase 1.2%. stuart: the thing it spreads out to 2023. doesn't go away. lauren: no short-term fix here. stuart: thanks, lauren. programing note about new episode of my new fox business prime show, called "american built" airs tonight. here is a preview. ♪
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coney island grew because one scrappy entrepreneur after another tried to get the best of his rivals. they built it ride by ride. >> there was anything goes kind of atmosphere. stuart: from the switch back railway. >> it was a very slow roller coaster. stuart: to the cyclone. >> click, click. oh [bleep]. stuart: building the birthplace of the a musement park. coney island. so, lauren, it is on tonight. american-built, 9:00 p.m. eastern on fox business. i'm sure you will be watching. >> born in brooklyn. rode the cyclone many times. stuart: really, the cyclone? scary. lauren: you never been on it? stuart: no. lauren: old roller coasters, something about them are scary. do all the loops, but rickety roller coaster. stuart: if we redo the piece on
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coney island you will be in it. lauren: fire it up. stuart: chinese tennis star seen for the first time after accusing a top chinese official of sexual assault. texas senator ted cruz says he still thinks the u.s. should go to the beijing olympics, no boycott. roll tape. >> i really hope your young men and women, they go over there and kick their commie [bleep]. we need to win the olympics. stuart: tell us how you feel, senator. we'll talk boycott in the next hour. look at this, awful, dozens of looters wearing ski masks ransack a nordstrom store in san francisco. that store is in contra costa county. the republican chair in the county witnessed it all. he will join me after this. ♪.
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stuart: look at that market go, for the benefit of our radio listeners, the dow is up 239. 35,800 is the level. nasdaq is up 109 points. well above 16,100.
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that is a monday morning rally. thieves in chicago targeted neiman marcus, a gamestop during kyle rittenhouse protests. what happened. lauren: there was a grab and run. 16 men reportedly rushed into a neiman marcus on the magnificent mile. you're seeing video. left with large amount of goods in three cars. a smash and grab, a merchandise was swiped from a gamestop on the south side. no one is in custody. this incident as protesters took to the streets following the kyle rittenhouse verdict which was about 60 miles away in kenosha, wisconsin. stuart: chicago city alderman, his name was george carrdenas, that the mayor needs to dump the police chief. lauren: crime is surging. murder rate sup 59% from 2019. it's a miss. david brown, the top cop, campaigned on lowering the crime rates.
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opposite has happened. nonetheless mayor lightfoot stands by mr. brown. she says the pandemic is the reason this is happening. we have to address root causes of crime. stuart: i'm sorry i find that clueless. that is just a personal opinion. lauren: i think a lot of people living in chicago would agree. stuart: a nordstrom in california ransacked by 80 looters in ski masks with crowbars and weapons. contra costa county republican chair is mat shuop. he is with us. he is, he runs the -- the republican chair of that area of county. you were there. tell us what you saw. >> i live and work few blocks there. it is upscale anchor tore for the mall. it is destination for people all around the bay area to eat, dine, have a nice night out. over the last two years our community has been struck by increase of violent crime in
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these types of looting and robery. i surveyed the nordstrom yesterday after this happened there was a large increase of police around, buys sell cops, barricades. another robbery happened right there in the, one of the nordstrom employees, ran out, notified the police. the police kind of sauntered over to check it out. i can tell you that the police in the bay area community, you know, they're demoralized. they know that the leftist mayor here, kevin wikl and district attorney will not get people arrested. if they are arrested they will not prosecute them. if they do get prosecuted they will probably not go to jail. stuart: are you putting this on the democrats? >> i am because the thing is, their policies, our district attorney last year put out an edict telling prosecutors and police they need to consider the needs of the looters before pressing charges. the looters heard that message
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loud and clear. this is what is a result of that. you know, unfortunately our local democrat elected have told criminals loud and clear here crime pays. that is unacceptable. stuart: why do californians, keep electing, reelecting people that allow to encourage it? >> people are listening to their words and not looking at their actions. they say a lot of flower riff things the world will get better you about what happens increase in crime, violent crime. these robberies affect a lot of people, not just the purses being stolen. the employees that had to live through this are going to have ptsd they will have to deal with. two people were assaulted. one woman was pepper sprayed. the three arrests that were made out of the 80 looters, one was a convicted felon with a gun. this is big destination of people to come out here. people are worried, are they going to be out for a nice night
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much shopping and eating, are 80 armed looters show up and shut down city streets and cause mayhem. you will be at the mercy of that. stuart: a breakdown of public order on a major scale. >> absolutely. stuart: extremely worriing for anybody near there, i just don't understand why avoidedders don't voters see it, don't respond it and make changeses? >> the progressive d.a., san francisco district attorneys, milwaukee district attorneys, people want, when people hear them talk they want criminal justice reform. they want to have less crime happen. people are open-minded to the alternatives but all they resulted in is increased crime. they need to go. fortunately for us diana becton her term, but up for re-election here in 2022. but unfortunately your mayor is not up until 2024. voters will have to see the message loud and clear, get to
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the polls to vote these people out. actually they should resign prior to that. change has to happen on the local level. people keep blaming gavin newsom for everything. stuart: is there a racial issue here? >> no. no. i, i mean, i, you know, this is crime. you know they're stealing louis vuitton bags. there is safeway across the street from nordstrom. they are not stealing food. this is not a racial issue this is organized crime because they know they can get away with it. stuart: what are you doing now, what are your constituents telling you? >> the police are frustrated as the contra costa republican party. we're raising money to run campaigns. we have a great district attorney candidate. we're looking for people walnut city and bay area. that is what the republican party should be focused on. that is what we're focused on.
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the change needs to happen on a local level this is not just a state problem, but a national problem, this is nationally as well. stuart: matt, thank you for being with us today on a difficult subject. >> which under better circumstances. stuart: thanks a lot, matt. still ahead on this program, matt schlapp, steve forbes, missouri congressman jason smith and nye again -- nigel farage. alexandria ocasio-cortez knows biden's massive social spending plan is in trouble. yes it is. the senate is very likely to make changes she is not approved of. she is warning the president. i will take that on in "my take" which is next. ♪ when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version
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s. there's nothing in this bill that increases the supply of goods. our only hope is that as this goes to the senate now, the bill gets killed. >> if republicans are running just to get republicans elected, that's not going to help. they have to run with a clear vision for how they want to stop the madness and fix problems for ordinary american citizens. >> ♪ stuart: 11:00 eastern time and this is monday, november 22, we've got a rally on the market, it has cooled just a little at one stage the dow was up 300, now it's up 234, the nasdaq also cooling a little, it was up well over 100, now it's up 71, but it is a rally. the banks are doing very well today, jay powell will be nominated for second term as chair of the federal reserve. banks like that, they didn't
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want little brainard, they got jay powell and all are way up this morning and now this. alexandria ocasio-cortez understands that the massive social spending plan is in trouble. the senate is very likely to make big changes that she does not like. so, she's given an interview to the new york times where she holds the president's feet to the fire. she's saying don't cave to the margarets. the present has promised to be faithful to the far left, "so if those promises don't follow through, she says, it's going to be very very difficult for them to get votes on anything moving forward. that's a threat. if you don't go with us, the socialists, you get nothing ." she actually goes further. she says the president could fix student loans and immigration using executive action, but, says aoc, he's choosing not to. those are her words. she's disappointed and calling out the president, and she's
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particularly upset the progressives were not invited to terry mcauliffe's campaign in virginia. she calls that a mistake, implying that if the socialists had their way, the democrats would have been elected. that's a stretch. that interview is an obvious signal of civil war within the democrat party. she knows the senate will make significant changes in her all- important social spending bill, so, she's issuing a warning to the president. don't cave, or else. aoc believes passing all build back better, as it now stands, will produce a democrat win next year. the margarets believe the exact opposite. they're at war, and now, it's out in the open. third hour of "varney" just getting started. >> matt schlapp joins me now. there's a war brewing here, which way will the president go?
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will he stick with a o c, go with her, or with the markets, how do you see it? >> i think he's trying to stick with aoc, stuart, but by the same token he wants to get a bill and so what's going to happen to these socialists in the house is the version that goes through the senate will have to be changed. i'll tell you one way it'll have to be changed. they are going to have to reduce greatly these amnesty numbers. there's no way joe manchin will ever survive an election or kyrsten sinema in either west virginia or arizona with these amnesty numbers and that's just one part of it so they will have to swallow a more moderate version. the question is, will aoc and the socialists deal, will they walk away? stuart: which way do you think they are going to go? it sounds to me like they're really holding the president's feet to the fire, and issuing threats. >> i agree. stuart: you don't go with us, real trouble in the future. >> and i think it really comes down to this joe manchin needs a bill and the only way, excuse me , joe biden needs a bill. the only way joe biden gets a
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bill is if he can moderate it to get sinema and manchin so then i think aoc walks and i actually disagree with what a lot of people are saying. it's getting increasingly tough for them to figure out how to keep just enough socialists with manchin and sinema remembering they need both manchin and sinema to pass this budget bill. stuart: i'm just, take me through this if you would, because you know more about it than i do. they go to this build back better goes to the senate, they take all kinds of stuff out. they really make significant changes to it and i don't know what changes but there's change coming. then it goes back to the house. what happens when this mutilated build back better goes back to the house? take me through it. i don't get what happens here. >> well, they lost one moderate in the first iteration of the bill that passed the house. if it comes back more moderate, now they are going to be facing losing the socialists and as you know, stuart, pelosi only has a couple of votes she can deal
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with. that majority that she has in the house is very slight and very tenuous so it could go back and forth. they could just decide to move this directly to the leadership members involved and just kind of pre-conference the thing and come out with a deal, but i don't know. aoc sent a message and that message is, we are a socialist party. we're going to push these progressive policies, and they are going to walk if they get out of the bill or anymore gets cut so i think we're looking at the fact they don't get this bill through. stuart: you're having a grand old time sitting back watching the opposition tear itself to pieces. [laughter] that's the truth, matt schlapp. >> do you know what, stuart? we've done that to ourselves too so we get power, it's hard to have power, and when i think joe biden didn't realize is that he thought this , whatever that was in the last election, that they got a mandate and what's clear is the american people are rebelling against these policies stuart: did you see that dr.
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fauci's warning that the definition of fully vaccinated might need to change, maybe incorporating boosters into it all. you know, matt, it sounds to me like we're going to be vaccinated every year forever, and i don't think republicans care for that. >> yeah, i think he's saying now it's going to be a required booster every six months, you know? i've had inoculations where i had to get a booster after five years. i haven't had one where i have to get a booster after five months. let's face it. this shot is intended to boost our immune system. it really isn't probably true vaccine, certainly not an inoculation and what we all have to do is get real healthy, stuart and this is not a good time of year for me to be talking about that. stuart: we're all trying, matt schlapp thanks, matt, we'll see you again real soon. >> thank you, stuart. stuart: the national average for price of a gallon of gas, $ 3.41 for regular across the country, national average. steve forbes is with me now. i just want to put out what maybe optimistic view on
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inflation. gas prices may stabilize or come down a bit, because oil is way down to $75 a barrel today. the wall street journal says that supply chain issues are easing. that would ease up on pressure on inflation. do you discount that completely? inflation is high and it's here to stay? what say you? >> there will be some relief on the gas front as you know, with europe locking down again, oil demand is going to go down that'll help short-term fuel prices at the pump, and in terms of the supply chain, even though the administration has been putting on a lot of regulations which have made it more difficult to recover from the lockdown distortions to the economy, there will be some progress next year, but the thing that gets overlooked in all of this , stuart is that the federal reserve has been printing massive amounts of money, they have been using a gimmick to keep it from flooding into the economy, but how long they can do that, going into next year, remains very much of an open question, so we may get less what you might call
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supply distortion inflation shortages and the like and more of the traditional trashing the dollar kind of inflation from printing too much money, so yeah, i'll take the lower price for a while but i'm not going to go celebrate quite yet, not for a long time. stuart: i'm sure, as cbs news ug ov poll finds one-third of americans approve of how president biden has been handl ing inflation, just one- third, the other 67% say they disapprove. i think biden's political standing is being affected negatively by this , what do you say? >> oh, absolutely. people feel the cost of living, there's no way jen psaki and others can spin their way around that when something costs more, you're paying more, or you don't buy it, very very simple and you saw that, i think, in virginia and new jersey and going forward, you're going to see more of that so yes, the inflation numbers may ease a bit for a while, but the real problem of higher costs and
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distortions, the administration still is oil & gas, still is putting on regulations that hurt small businesses, and they are pushing hard for this big spending bill, which will be a crusher for small businesses and that's not good for pricing and for productivity and ultimately higher wages. stuart: you and i are the same vintage, and we remember the nasty explosion of inflation back in the late 70s early 80s. we understand what it does to a society. a lot of folks around today have never seen it before and don't quite get it, but they are see ing it right now. steve i'm sorry i'm out of time, but you come back and see us soon and we wish you the best for thanksgiving. thank you. you too, thank you, stuart. stuart: you got it. let's see what's moving on the market today? tesla is moving up 4%, the story , please lauren? lauren: elon musk says the model s plaid will probably be coming to china its second largest market and the biggest ev market in the world in the spring. 520-mile range, that's the longest of any ev in production, the price tag starts
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at $130,000, but you know what? it could be more because of the supply chain snags, tesla has done well beating the supply chain problems, but you could see them hiking prices. stuart: it's a really fast car, you know? lauren: i know the acceleration is crazy. stuart: uber? lauren: so this is interesting, because the stocks down 3.5%. i think because investors think this is risky. uber is teaming up with canopy growth's tokyo smoke to allow canadians to order marijuana online, on the uber eats app. so it's the first time that uber has teamed up with a cannabis merchant. they won't deliver the marijuana even though you do everything online and it's through uber eats, you still to go to the store at least for now, to pick-up your order but they say it's available within an hour. stuart: what's the difference between delivering marijuana and delivering alcohol? lauren: very good question. stuart: there is a difference obviously but i don't know why the stock is down 3.6% on uber for that can't believe that's the reason. anyway, vaccine makers, what do we got on them, it's all up today. lauren: in a big way moderna is up about 5% so regulators
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expanded eligibility for booster shots to all fully vaccinated adults. more than 35 million americans have already received the boost er. stuart: it's a big extra market isn't it? lauren: it's an extra market and at this rate we're getting a booster every six months forever stuart: don't like the sound of that thank you very much lauren. china's hypersonic missile much more advanced than we originally thought. pentagon experts say it defies the constraints of physics. we've got a report on that. house democrats cheer after passing the spending bill, but their celebrations may be premature if the democrats can't get senator joe manchin on board got that one. democrats want to ramp up irs enforcement to fund their massive spending bill. critics say nearly half of their audits will hit families earning less than 75,000 a year. hillary vaughn has that story from washington, next. >> ♪
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stuart: watch out. democrats want to double irs enforcement, this is to try to pay for their massive spending plan. they claim it will hold the rich accountable. well, hillary vaughn is in washington d.c., and hillary? how is this irs plan going to hurt middle class families? that's my question. reporter: republicans say if you're going to double the amount of irs agents that can audit american taxpayers then american taxpayers are going to have a double chance that they are going to be audited. that's one of the criticisms from republicans on capitol hill , including the republicans on the house ways and means committee, who found that adding
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$80 billion to the irs budget to hire 87,000 new agents means the middle class and lower class income earners are going to have a higher chance of being audited they think that the proposal would lead to about 1.2 million more irs audits each year. they say about half of those are going to hit middle class families making less than $75,000 and they also think that about a quarter of these audits are going to hit americans making less than $25,000 per year. there is a big discrepancy between what the white house and the president think they're going to get in new tax revenue by increasing these audits. they are banking on $400 billion but the congressional budget office says they only think they are coming up with about $207 billion, and the white house is basically said they are trusting the irs commissioner's pledge he can scoop up $400 billion in extra tax revenue from american taxpayers, so if the net isn't wide enough to get this 400 billion, they
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are going to have to get it from somewhere and that's when republicans worry it is going to affect even the lowest of taxpayers. stuart? stuart: got it, hillary, thank you very much indeed. look whose here now, congressman jason smith, republican from missouri and a ranking member of the house budget committee. congressman, great to have you on the show, perfect timing. looks to me like the senate is going to gut biden's build back better plan. what say you? >> boy, we sure hope so, there's no way that the senate will pass what the house just passed. this huge tax and spending bill that came out of the house of representatives, it bankrupts our economy, it benefits the wealthy and it definitely builds the washington machine. right now, all americans are facing the highest prices that we have seen in almost 40 years, and this bill will only fuel those skyrocketing prices. stuart: well, okay. it gets gutted in the senate, i think most people expect
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significant changes in the senate. then it goes back to the house. what happens in the house when you've got this gutted version presented back to them? what happens? >> stuart let's sure hope that the bill dies because this bill only harms working class americans. i think that nancy pelosi is going to have her hands full. she originally had the plan to try to pre-conference this bill with the senate so whatever that they passed be able to just be picked up and passed out of the senate and put on the president's desk but then she saw it was too difficult because they have this five-seat majority and just a couple progressives or a couple moderates opposing something, everything falls off the tracks and i think that she's going to have a tough time trying to pass it. stuart: you mean they won't get anything? it goes to the senate, they change things, goes back to the house, it's awful, the house hates it and they won't get anything? that seems like kind of a strange scenario. >> well let's look at it,
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stuart. as these democrat senators are back home for thanksgiving, they're going to hear from their constituents and see the pain their constituents are having at the fuel pump, at the grocery store, and they're not having it let me tell you it's not just senator manchin that's having issues with this. it's all types, and all different democrat senators so let's see what happens over in the united states senate first and foremost. stuart: i would have thought that child care, pre-k, that kind of program, be popular with a lot of people in middle america. >> well you would think so, and it is, but let's look at this. let's not be distracted. the second-largest provision in this tax and spending bill is a tax break for the most wealthy. we've talked about it before and the state and local income tax. under this provision, it cost over $280 billion of family of four in southern missouri that makes $45,000 a year, will have a tax break of probably $20, but
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a family in new york city of four that makes $4 million will get a tax break of $25, 900 under this bill. this bill is all about benefit ing the wealthy at the expense of working class americans. stuart: my goodness, me. what a mess, just extraordinary stuff. jason smith, republican of missouri thanks very much for being with us today we appreciate it, sir and we'll be seeing you again, soon. >> have a great thanksgiving, stuart. stuart: yes, you too, sir. check those markets dow up 270, nasdaq up just 21 points so cool ing this rally a little on a monday morning. variety reporting that hbo and h bo max will share rights with disney plus and you had luxury on a selection of films from 20th century studios. the deal will last through the end of next year, i guess that's more content for these folks. disney is down to 153. starbucks workers all around the country want to unionize,
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tell me more. >> good morning to you, stuart well you can see the stock is up so there's a positive reaction to this and just the momentum we're seeing in the market but what's really happening here is "coast to coast", you're seeing workers, employees at starbucks saying we want more leverage, within the matters that happen in the company that impacts us, but remember, starbucks is one of these companies that always had a really good reputation, they raised the minimum wage from 14-17 in effect by next summer so some folks are saying workers are being too picky at this point and the amount of control they want to have over companies, but you've got the former ceo howard schultz and he's talked about how the company can represent the employee's interest in the best way possible, and that they should leave things the way they are, and of course, that is the story when we talk about unionizing, right? stuart: i'm surprised there, i thought howard schultz and most of the starbucks people would want to move towards unionizing more rights for everybody. probably not. >> apparently not. stuart: monster energy drink people looking to merge with
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constellation brands. they are the biggest alcohol people in the world i think, what's with that get-together? >> absolutely it's actually brilliant it's a combination of two companies that brings the valuation to about $92 billion. constellation has all those alcohol brands like kim crawford and modello, monster has coca cola and they say you can't compete in the non-energy space but they can do that starting this year so this could be a really interesting time for that company to expand and to branch out. stuart: energy drink laced with alcohol wouldn't that be something. >> or possibly cannabis. stuart: i think we've got that story coming up later, thanks very much jackie good stuff. senator ted cruz, he supports a diplomatic boycott of the winter olympics but he says the athlete s must go there to compete. roll tape. >> i really hope our young men and women that they go over there and kick their [bleep]
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we need to win in the olympics. stuart: is that how you really feel senator, we're going to discuss should we skip the olympics a little bit later in the show. the president is reportedly telling his allies that he will run again in 2024. his poll numbers are plunging. he's got crisis all over the place. wall street journal dan henning er is with us and will take a look at the possibility of a second biden term. >> ♪ as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.
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>> ♪ stuart: you knew that, before it came up on the screen. lauren: on oldie but a goody. stuart: i know a good beach, that's st. pete's beach florida, 70 degrees a little cloudy but i'll take it. i'm in new york. check those markets, please. the rally, in fact the dow is back to a near 300 point gain but the nasdaq is falling out it's up over 100 now it's down a point but we got movers here including apple, i believe it's a record. >> biggest percentage gainer on the dow today offsetting some of the declines so it's driving the
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dow higher and i think this is like what we call a catch-up and breakout hads rally up almost 3% and playing catch- up to the other tech names like google and amazon which have rallied so far this year. stuart: i see gm rallying this morning. >> up and up 13 new electric car models launched in the middle east by 2025 also buying up a 25% stake in pure watercraft and that's to accelerate all electric boating, so gm not only in cars, but also electric boats as well. stuart: boats? >> yes. stuart: that's a new one on me. >> for sure. stuart: zoom. now, they report after the bell today? >> yeah look where the stock is , so you basically buy on the rumor selling in the news and people are predicting it's not a great report card so we're looking for sales growth expected to slow as more people go back to the office and there's a lot of competition out there. i think microsoft teams, google meet, there are other options and zoom shares by the way are down by one-third since the summer after its last report card. stuart: have you ever done a
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zoom meeting and/or a microsoft teams meeting? i mean? >> the same day in the same hour? yes. stuart: are they comparable? >> they are comparable i would say also google meet depends do you have a gmail account because it's easy to just push the button on the e-mail box itself so there's a lot of competition with ease-of-use and less friction. stuart: susan thank you very much indeed. the media reports that president biden has told our allies yes, he will run again in 2024. look, he's going to be 82 by then, and if he runs, he will have to mountain under energetic campaign, and he has to say this he's got to say, i'm running. if he were to give the slightest hint that he will call it quits after one term, he has a mad scramble to get in line, a disaster for an already badly- divided democrat party, okay, and it would put even more pressure on the already- embattled vice president harris. what a situation. less than a year into his
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presidency, there are widespread fears he's not up to the job and surrounded by crisis of his own making, he's stuck. any admission about his future, means he's already a lame duck, but say he will stay in the game for a second term, well frankly that threatens credibility doesn't it? dan henninger joins me now. dan, i can't see president biden running for a second term, can you? >> not at all, stuart. i really don't, and i don't think there was any expectation inside the democratic party when he ran the first time that he would run for a second term. i mean, what came in there at the end as a moderate alternative to some of the other moderates who were running in the democratic primary were not gaining traction, there was some fear that bernie sanders was going to get the nomination, and so joe biden stepped in. he did so, stuart, in large part because the democrats have really not created a strong political bench. nobody of presidential timber they could put forward, they still don't, quite frankly,
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beyond joe biden, and so biden got the job, they thought he be the guy who could defeat donald trump, he did so narrowly , and now, here we are, stuck with joe biden. the democrats are stuck with him the party is, and we, the american people, are stuck with him, but 58% in the most recent polls say they think he's too old to run again, and you just listed all these crisis he's created around himself, so it's a terrible situation, especially with kamala harris as vice president, having an approval rating of 28%, but you know, the democrats they aren't going to let this go on like this , stuart. they are going to start talking about running against him, not now, but perhaps two years from now. stuart: somebody will, in an interview with the new york times, congresswoman alexandria ocasio-cortez said the democrats talking points are not enough. she wants biden to stand up to the moderates and be faithful to the far left.
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that seems to me to be a signal of civil war, within the democrat party which actually is pretty good news for the republicans, at this stage, right? >> no question about it. the progressives and the moderates are far apart. the progressives like aoc, they think they are the base, and to some extent, they are the base. they can win primaries, but not in general elections, and, you know, the elections on november 2 were a wake-up call for the democratic party. it wasn't just the glenn youngkin defeated terry mcauliffe in virginia but everywhere across the u.s. where you had something resembling a democratic moderate running against the progressives, the progressives lost. new york city mayoral congressional election in cleveland, seattle, minneapolis, the progressives lost in every one of those elections, and i think aoc and the progressive caucus see that they're losing altitude and that's why she is so intent on getting this build
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back better bill passed now, with all of the entitlements in it, because the entitlements, admit it, they be hard reverse, but i think the progressives are willing to sacrifice control of the house next year in the off- year elections, if they can get much of this bill passed because it'll be so difficult reverse. this was their moment, their moment is passing and they are beginning to sound desperate. stuart: this is the theory that you slap everything together, you put it all on their wall and if you can get just one or two new programs, you'll never ever get rid of them, and that will be a success for the left. even if they lose the house, even if they lose the presidency in 2024, even if they lose the senate doesn't matter. you've got those programs on the books and they will never get rid of them and they can say look what we did for you. that's the game here isn't it? >> i think that's the game stuart and if there's a silver lining it would mean that was the high point for progressive democrats in american politics. i think they have been very
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destructive and the cities they are in charge of, chicago, los angeles, seattle, are suffering because of progressive politics, and if this is their peak, and if they are going to be sliding down after this , it can only be a good thing for american politics, whether democratic or republican. they have simply been in competent and destructive. stuart: well-said dan henninger. we will see you again and i hope you do have a great thanksgiving , dan. see you soon. >> same to you, stuart. stuart: you got it. let's get to the cryptos, they are having a pretty good day close to 60,000 on bitcoin, it got to 59 and change earlier now it's 57.9. we've got one country which wants to build an entire city, funded by bitcoin bonds. it be powered by a volcano. you know, you can really say for sure we do indeed cover it all on this program. china just tested a hypersonic missile travels five times faster than the speed of sound. does our military have anything
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to match that? general jack keane, after this. >> ♪
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nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the common side effects are swelling of the arms and legs and confusion. now this is something we want to see. don't wait. ask your healthcare provider about nuplazid. hey i'm joe montana. when you get to be our age, you have little patience don't wait. for nonsense and inefficiency. after years of practice you become a pro at pretty much everything. so when i qualified for medicare, i got wellcare. they're pros at making things streamlined, efficient and convenient. wellcare offers great benefits like free grocery, meal, and prescription delivery. and if you need to see a doctor, you can get in-home visits and 24/7 virtual visits. wellcare is no nonsense. just great benefits and none of the hassles. [ doorbell rings ] i have your delivery. appreciate it. ♪ ♪
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wellcare is committed to getting rid of the nonsense and inconvenience associated with health insurance. instead, they're just focusing on giving you great benefits. so don't delay, act now. wellcare. it's medicare done well. stuart: last summer, china launched a hypersonic missile that traveled all around the world at low altitude, which makes it very difficult to track on conventional radar. during the flight the missile conducted what's described as a advanced maneuver, launching a projectile at a target on earth. in this important area, is china ahead of the united states? a separate report from the journal this morning that a pentagon is testing israel's iron dome missile defense system on guam, that will be used to defend the island as china
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stockpiles missiles. four star general, general jack keane joins me now. how far behind are we and do we need a lot more money to catch up, general? >> well, a couple things. we are definitely behind, china has a qualitative advantage here dealing with hypersonic missiles , and something, you know, the united states has always enjoyed having and that is a qualitative advantage over our adversaries and the united states military is going to catch up in 2024 it looks like the army will have a hypersonic missile, in 2025, the navy will for their surface ships and in 2027 for submarines but we still have problems, stuart. because we don't have the capability to defend against this system. the iron dome system is to defend against more conventional systems, and we have got to develop that capability and it involves putting up advanced satellites with special sensors to be able to track a space
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vehicle that's carrying the missile all around the earth 's orbit, and that is something we don't have the capacity to do today, and then the second thing that we need is an interceptor, we have to be able to shoot this down moving at that kind of speed with that degree of maneuver ability so we're in catchup here for sure, stuart and this is after we've said many times here on your show, that conventionall y, china outnumbers us in airplane, in ships, and in missiles in the indo-pacific region and we've got to move capability in there now to make up for that shortfall and yes, we don't have enough money in the budget. what's going to happen with this biden budget, it's not even going to cover inflation, so given that fact, we have a budget reduction and defense coming, stuart, which makes no sense in the face of the threat that we're facing. stuart: let me deal with this real fast, general. chinese tennis star peng shuai telling the olympic committee
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she is safe, she disappeared from the public eye after accusing a top chinese official of sexual assault. critics are still concerned about her well being. all this is happening as some groups call to boycott the beijing olympics. should we do that, general, and if we did boycott the olympics, would we just be throwing a whole new hat in the ring of the confrontation between china and the united states? >> well, i don't think we do foreign policy on the backs of our athletes. it makes us feel good to boycott the olympics, we're punching china in the nose but it's our athletes who will suffer. there's so much we can do to deal with china. how about internationally, organizing an effort to sanction china for this increased repression at home, you just mentioned one, and the aggression they are doing abroad, and that would actually hurt them. let's get the capability into the region, militarily to defer them from their aggression abroad. these are the things that will get their attention. the olympics without us will go
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on, they will get a propaganda game out of that, and what are we going to get out of it? our athletes have been working for four years and denied the opportunity to show their skillsets. that, i don't think, we should do. stuart: i'm with you on this one general, thanks so much for being here and i wish you the best for thanksgiving this week, sir. >> yeah, happy thanksgiving to you, and fox family there. stuart: i'll take it thankings very much, general. el salvador wants to create the first bitcoin city. jackie, there's a bit more to this. they want to power this bitcoin city with a volcano. >> yeah it sounds like this crazy bitcoin eutopia if you will but they were the first country to actually accept bitcoin as legal tender so now they are expanding saying we're going to break ground on construction here in 2022 and build this city, you can use crypto there, they are going to fund it with crypto, have a crypto infrastructure company, a crypto mining company, i mean, you might say that it sounds a little crazy and others might say do you know what? they are getting first mover
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advantage on this. stuart: i can see it. what a story. a volcano? we've got this breaking as we speak. the white house is raising the minimum wage for federal contract workers. do we know how much the raise is and when it starts? >> yes, we do the raise is from 14, sorry, to $15 i was thinking of the starbucks story for a moment but it's $15 an hour and will happen in january of 2022, january 30, it's going to be pushed through with an executive order from the white house. this is attributable to the labor secretary marty walsh, it's going to impact 327,000 workers and i'll just remind you , stu, the democrats wanted to push this through congress and they floated it and knew it wasn't going to work and now they do it this way saying we have to do it because we have an inflation problem on our hands. well who started the inflation problem? stuart: what does it do for the inflation problem? thanks, jackie. programming note for you there are two new episodes of my show,
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"american built" tonight, here is a preview of the united nations building. watch this , please. >> when world war ii ended, the only logical place for the u.n. headquarters was the usa. >> this was going to be a big deal for a big idea. stuart: a revolutionary goal. >> no one ever had a glass building this tall, anywhere. stuart: on international egos -- >> there were fights but that became part of it. stuart: to domestic unrest. >> this must not happen. stuart: how they built the world 's first glass skyscraper, united nations building. stuart: that's right. new episodes tonight, 9:30 the u.n. building on fox business, tonight. austria begins its national lockdown after a weekend of violent protests across europe. will these draconian rules spread to other countries? nigel farage is next.
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stuart: after a weekend of protests austria is now under lockdown again, and austria will become the first country in europe to make vaccines mandatory for all residents under the age of 12. nigel farage returns to us today i'm seeing real pushback in europe, especially vaccines for all adults in australia, this doesn't look good from over here in america. >> no, and i actually think for the first time, that the austrian government and potentially other european governments have now bitten off more than they can chew. you know? all the restrictions that we've lived with for what's going on for two years now, generally, populations are being reasonably complaint with the rules, and i guess governments use fear to make them comply, but last week in austria they locked down the unvaccinated. now they've locked down everybody. the idea that everybody has to have a vaccine and the austrian
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chancellor said there will be police on the streets checking. i mean, this takes us back to a europe of 80 years ago and i do not think people will comply. government has gone way too far and i think it's wrong. stuart: it seems like the neighboring germany may follow austria's lead not necessarily the mandatory vaccination for evidence but new lockdowns. angela merkel is saying this morning the situation is dramatic and the worst she's seen, my goodness if that kind of restriction spreads to germany that's a real signal that europe has gone for full lockdown. >> yes, and that's why you've had riots on the streets of brussels and belgiums in the netherlands and elsewhere, and most of the riots that took place over the weekend were in response to what's happened in austria and the fear, the lockdowns and mandatory vaccines are about to be introduced into several european countries.
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this is clearly being discussed at eu level. as i say, i think kickback a resistance against this will be enormous and one of those rare times government will lose, governments of europe will lose if they go down this route. stuart: i just want to update queen elizabeth. i believe she's just been seen in public for the first time since hospitalization last month can you just give an update on the queen and her health? >> we just don't know the truth , stuart. we're being told by buckingham palace that she was tired, she didn't attend the annual remembrance day service because we were told of a back sprain which didn't seem that realistic , obviously pleased to see her out and about today. we don't know the truth, the buckingham palace keeps these things very guarded. the worry, i think, is she had been married for 72 years, and phillip died earlier this year,
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and it's not uncommon when one partner dies another can suffer a health decline. we don't know the truth but certainly from my perspective, most of this country, our thoughts and prayers are with her. she's a magnificent woman. stuart: i believe she is beloved my no other monarch incent ares i guess you'd have to say. nigel thanks for being with us today, always a pleasure. i know you don't celebrate in britain but happy thanksgiving to you, okay? >> and to you. stuart: the brits give thanks they got rid of some nasty radicals calls way back when, nigel we're done, thanks for being here, we'll see you again soon. all right, it is the monday trivia question, here it is. up to how many calories does the average american consume for a thanksgiving meal? make a guess, jackie will chime in with a guess as well, when we return. ♪♪ care. it has the power to change the way we see things.
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>> i will be passing the pecan pie then. i was going to pass it down. stuart: 4500 calories for the average american on thanksgiving. that is amazing. many, many people who live on, make sure they consume more than 1200 call race in a day. they think that makes them long lived. i don't know how true that is, 1200-calories a day. that is a tough goal. david asman for neil. david: save those pieces of pie for me. i'm david asman in for neil cavuto on cavuto "coast to coast". president plans to keep jay powell as head of the fed. meanwhile some other stories watching for


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