tv Varney Company FOX Business April 26, 2022 9:00am-12:00pm EDT
michael bloomberg, etc. >> yeah, those tweets show elon musk was right, free speech, free debate, wow, what a novel concept. [laughter] maria: yeah, baby. all right, ryan, quick comment. >> i love it. he's very libertarian, he stirs it up and, steve, if you want to consider a libertarian platform if for 2024, i'll be your campaign manager. maria: have a great day, everybody. "varney & company" begins right now. stu, take the it away. stuart: yeah, good morning, everyone. we're cheering him on. the left is apoplectic, a threat to democracy, says senator warren. tax him, she says. the rest of the world seems rather happy. musk says free speech is the bedrock of democracy, and he's going to restore it. a little opinion from me for a moment, musk's takeover is an opportunity to turn around what was a fading company and an opportunity to create a level
political playing field right before the elections in november. we'll have more on all of this coming up. there's a lot to go at. quickly to the markets, the dow industrials will be down at the opening bell, maybe up to 200 points. s&p, nasdaq also on the downside. bitcoin, at last count it was back to $40,000 a coin. it's 40,200 right now. ah, but look at this, gas prices are actually creeping higher all over again. $4.13 per gallon, that that's the average for regular. and diesel, you're still paying $5.08 a gallon, so energy price inflation is still very much with us. and oil, well, it dropped all the way down to, what, $94, 95 a barrel yesterday, it's back to nearly $100 a barrel as of this morning. that's the financial marks. war news. in germany the defense ministers of all the nato companies met with u.s. defense secretary austin. big deal. they are speeding up the delivery of heavy weapons to
ukraine. fox's jennifer griffin says 8-10 cargo planes are arriving every single day. putin doesn't like it. money news. focus on microsoft and google, both report hair earnings later this afternoon -- their earnings. if they don't show stellar results, watch out for the whole market. look what happened when netflix disappointedded a couple of weeks ago. the stock is still down. and we will follow up on the death of bishop evans, the texas national guardsman who drown thed trying to save illegal migrants. press secretary jen psaki played down the incident saying evans worked for texas, not the feds. they don't want to talk about the border but we do. tuesday, april the 26th, 2022, "varney & company" is about to begin. ♪ ♪ i got my mind set on you. ♪ i got i my mind set on you
muck. stuart: that's san francisco. [laughter] it's the story that everybody's talking about, elon musk has done it. yeah, he's buying twitter. it's been a lot of fun watching the reaction to it, actually. you've got those who absolutely love it, like myself, for example, and you've got outrage. well, lauren -- lauren: yep. stuart: welcome back. which side does former twitter guy, dorsey, where's he on this? >> lauren: i think he's on elon musk's side. he's a yogi, and he channels his inner yogi -- stuart what? lauren: he does a lot of yoga. elon is a sing is lahr solution i trust. -- sling lahr solution. i trust his mission to extend the light of consciousness. [laughter] let's speak to the moral element of twitter, right?
everyone authenticated, no bot withs, free speech for all, no problem. but the real world problem is can that exist as a for-profit enterprise. dorsey couldn't do it. maybe, maybe the woke left and twitter employees wouldn't let him do it. maybe he didn't want to battle them. or, like i said, babe he's supporting elon maas -- maybe he's supporting elon musk now because he just netted $900 million, right? to be exact. but then you have the elizabeth warrens of this world who think it's dangerous for our democracy. we need a wealth tax and strong rules to hold big tech accountable. so the far left wants to hold him accountable, and the far right, maybe the middle too, they want a cleansing of the tech world and its art official manipulators. okay. former president trump -- stuart: yes? lauren lauren he's staying on truth social for now, but i wonder if that changes. if musk turns twitter around and makes it a place where everyone
wants to be and he can monetize the influential user base, maybe advertisers would come back. cohen and co. put out a memo, they think advertisers are pulling back business anyway, maybe elon musk spotted that. stuart: very interesting. the reaction is profound across the board. everyone's talking about it, no question about that. and we will too. thanks, lauren. senator marsha a black burn, republican from the if state of tennessee, joins me now. i see this as a win for free speech. is it also a win for genuine political debate in the midterm elections this year? >> it is, indeed, a win for free speech, and i do believe that this is a step in returning twitter to what it was supposed to be which was the public square. stuart, listening to what lauren was saying, what you've got to realize is jack dorsey figured out from the hearings we held where he's had to testify that the days of letting twitter run
amok and censor people, those are over. and so some of these content moderators that are out there in silicon valley, they're going to have to go to tolerance class if they plan to keep their jobs. because this will become a public square. as i was reading things last night and this morning, you have to look at what has happened with bitcoin where it accepts all comers, where it is actually worked and mined by the people that are in the bitcoin site. this is what elon musk is trying to do with twitter. to make it so that you've got the people that use this who are going to be in charge, that it will be a public square where it will engage robust, respectful, bipartisan debate which is what has helped to keep the nation free and working as a democratic
republic all these many years, where we respect a difference of opinion. stuart: yeah, right. do you expect mr. trump to come back to twitter at some point in the futuresome if. >> -- future? >> i i is have not talked with the president. i know that he is very involved with truth social. i've got a tremendous amount of respect for him and devin nuñes who is standing up truth social. but one of the things you have to look at is whether it's twitter or truth, what you're going to have is a place for the public to go and then get that point/counterpoint. that is what people are wanting. you look at how twitter took down the new york post story the, how they have censored the federalist, how they have censored over conservative outlets and postings. simply because the content moderators said we don't like that. so we're going to shut it up.
and they played extreme cancel culture with what was happening there with twitter. and my hope is that those days come to an end. stuart: let's hope it's a whole new day just beginning. senator marsha blackburn, always a pleasure. thank you. >> thank you. stuart: let's get to china because beijing is facing a covid outbreak. they've closed down some neighborhoods. they're enforcing a mass testing policy, millions. the latest please, lauren. lauren: i think they're more scared of lockdown the than they are of getting covid. 16 million people in beijing are lining up today to be test thed, one of three tests this week. let me give you the numbers. 33 new cases in beijing yesterday. 33 new infections. stuart: that's it. lauren: that's it. in shanghai, 19,000 new infections. today, 52 new deaths. and they're now putting these fences around buildings and streets be if there's just one case.
if -- is there something that china's not telling us? doesn't that reaction seem to defy the medical sense of what we know about covid and omicron or whatever the latest variant is? stuart: they're stuck. they've got a zero covid policy which does not work, but it's the communist party dogma, zero covid, so they've got no exit ramp here. i think that's a problem. let's bring in david nicholas, market watcher of the morning. i don't like the look of covid's outbreak in beijing. i don't know where this thing is going. how does it affect our economy and our market? >> yeah, stuart, i agree. china's zero covid policy is absolutely ridiculous. it seems almost sinister if you look at the effects of it. it's just going to mean more i inflation, right? we've already been dealing with what the fed's doing here at home, but when you add the growth scare coming out of china, take apple. 50% of apple's suppliers come
from shanghai. so we're going to see companies like apple, which i love, struggle with getting the supplies they need. even automakers, volkswagen just shut down their plant. i've been waiting on my new ford truck. they don't have the key, the truck's done, they just can't get the supply for the key. look what's happening in china, and you can see we're going to see more sustained inflation because of what china's doing. stuart: i've got to ask you about twitter and elon musk. who's the biggest winner of musk's twitter purchase? >> i think all americans are the winners. babylon b, if you ever read the satire site, they were banned on twitter for saying that rachel levine, who's a transgender woman, was their man of the year. before elon said he was going to buy twitter, he called the ceo of babylon b and said did you really get banned, and then elon said, i guess i'm going to have to buy bitter. to i'm -- buy twitter.
stuart: that's fascinating. i didn't know that story. very interesting. david, good stuff. see you again real soon. >> thank you. stuart: we've got the latest read on home prices earlier morning. what have we got? lauren: it's for february, and it was a record, a record jump in the price of a home, up 20.2% annually. stuart: from the previous year. lauren: february of '21, february of '22, up 20%. does that finally bring prices down? it remains to be seen. the biggest price jumps continue to be in phoenix, arizona, and florida, tampa as well as miami, above 30%. stuart: but those numbers are from february, two months ago. we won't get the current numbers for some time. all right, lauren. welcome back. lauren: good to be back. stuart: you've got a suntan. lauren: i do. [laughter] stuart: down 200 on the dow, down about 100 on the nasdaq can.
the mainstream media does not approve of elon buying twitter. roll tape. >> elon musk is the new power at the social media giant, and he is foaming the runways for the return of the trolls. >> and elon musk is the fox coming into the henhouse. [laughter] stuart: this pine just the gunning of the meltdowns -- might be just the beginning of the meltdowns. brent bozell is here with more on that later in the show. the administration claim claims sending more weapons to ukraine. are hay getting into the right hands? are they getting through? vladimir clef coe told me yesterday there have been a lot of promises. roll tape. >> promises are there, but on our soil we need to get them in our hands as well. stuart: have you been promised planes? >> there are a lot of different promises being made by the free world. stuart: okay. i will press that question with cia man dan hoffman, are the planes getting through? we'll be back. ♪
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♪ ♪ stuart: russian forces have taken another city in eastern ukraine. they're also trying to advance into kharkiv as well. matt finn is in ukraine on the ground. what's the latest from there, matt? if. >> reporter: well, the united states is defying russian requests to stop sending weapons to this country. instead the u.s. promising another $700 million to ukraine and its allies to purchase sophisticated weapons, not soviet-era materials. also the secretary of defense today, lloyd austin, hosted 40
nato defense ministers in germany. the conference put together in just the last week. some of the topics, an updated battlefield assessment and how other countries can update their defends against the new russian threat. and yesterday just hours a after the secretary of defense and secretary of state left ukraine, there were five missile strikes in western and central parts of ukraine. at least one worker was killed. and now russia's top diplomat is warning ukraine against provoking, quote, world war iii and is threatening that a nuclear conflict should not be underestimated. russian forces have taken a small city in crimea, continuing to bomb kharkiv, and the flourishing port city of mariupol has been nearly leveled. here is one survivor. >> translator: we've lost everything, absolutely everything. all we worked for. we just don't know what to do or what to start with again. >> reporter: and for context on the missile strikes near
railways here, a retiredded u.s. general who was nato's top commander says that strikes on trains are a legitimate effort to disrupt supply lines while also terrorizing refugees. stu. stuart: oh, really? all right, thank you, matt. good to have you with us. let's bring in cia guy dan of match. i spoke to wladimir klitschko yesterday. he told me they got a lot of promises about planes being delivered. can you tell me definitively if they're getting through, because they're vital to ukraine's war effort. >> yeah, they are vital to the war effort, and i think that's a great question that our own jennifer griffin could be asking the pentagon spokesmatch, john kirby, because the -- spokesman, because the pentagon has been less than direct about those mig aircraft and out of concern. we've seen this week a second what looks like an attack on a
russian fuel depot, and that might be a concern for this administration over escalation. you heard the discussion from the russian foreign minister, lavrov, using president biden's words against him about a world war iii because we're supplying ukraine with so much military assistance they need to fight off russia's bar barbaric invasion and invoking the specter of nuclear war is exactly what russia thinks will deter us from providing the assistance ukraine needs. stuart: you're a cia guy. you wouldn't want our guys to come right out, oh, yeah, we delivered six migs this morning, and they're in this place. you've got to be secretive to some degree. >> to some degree, but it's going to become known what the -yard line. s are receiving. we've -- ukrainians are receiving. we've been pretty open about the $2 billion of assistance we've provided so far including the latest trauma. which includes howitzers and those drones which are armed. they have reconnaissance
capability, they can also strike targets, providing tanks and s-300 air defense, massive amounts of javelins and stingers, so we've been fairly open about it. but i think the planes, as you said, the attack aircraft kind of takes it to a different level, for sure, and it's something perhaps we just don't want to be too open about with the russians, but the russians are going to figure it out regardless. and we know they're concerned because, as you pointed out, they're targeting those railway stations, those hubs where the supplies are getting in and the refugees are trying to get out. stuart: we've got this meeting of 40 nato defense ministers with defense secretary the austin in germany. is america hardening its stance on the war? are we beginning to use the word "win"? >> well, we're talking about winning, and secretary austin was talking about making russia so weak that they could ono longer threaten their neighbors. there's a bit of a time lag here. i wish we'd done more a year ago, months ago, but, yes.
and i think we can thank president zelenskyy of ukraine who awakenedded those nato member companies from hair post-cold war slummer. and now we're all supporting ukraine for their fight for liberty, freedom and democracy. president biden has said we'll deend fend every inch of nato territory, but it is ukraine who's putting their lives on the line to defend the things that we hold most near and dear to us end shrined in our constitution and bill of rights. stuart: well said. dan hoffman, see you again soon. >> all right. stuart: russian's foreign minister says the risk of nuclear war are very significant. what else did he say? lauren: he accused nato for creating risks for nuclear war by arming ukraine with. he calls it the proxy battle. the u.s., as you mentioned, hosted 40 plus countries today at ramstein air base in germany to pledge more weapons to ukraine, but the foreign minister's rhetoric is
escalatory because russia sees this door nateed aid -- coordinated aid coming from other nations weakening their goal of taking more of the country, more from ukraine. stuart: the nato meeting, it got them the rattled. trying to figure out how we're going to get more real damaging stuff into ukraine, and we're going to do it. lauren: i was reading over the weekend that putin's goal is to take up to a third of ukraine. he thinks they can bet -- he can get that much, and this meeting show maybe the west can stop him with the right response. stuart: glad you're back. check futures please. sorry, red ink across the board. down 250 on the dow. the opening bell, next. we'll take you there. ♪ i can't feel my face when i'm with you -- ♪ but i love it, but i love it. ♪ if oh, i can't feel my face when i'm with you ♪♪
(fisher investments) in this market, you'll find fisher investments is different than other money managers. and every person... (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. stuart: check those markets, premarket opening we're down 2200 on the dow, down about 100 on the nasdaq -- 200 on the dow. michael lee with us this morning. all right, michael, with we've got inflation, high rates, interest rates, and we've got china. why should i put money into the market right now? i've asked this question a dozen
times. what's your answer? >> yeah, well, stuart, it depends what you're putting money into. i till think this mod i run -- still think this commodity run based on supply chain difficulties and the u.s. still coming out of the covid lockdowns and travel picking up, feels like the energy sector would be a good place to put your money. yesterday the xle hit $71 a share, over a 4% yield. i think today it's going to open up about $74, i think that's on it way back up to 80 and to make new highs. but as a a rule, i've been looking for days where the market rallies -- stuart: whoa, whoa, wait, michael lee, let me interrupt you. you would light aren up on big tech in any rally? so you should tell my microsoft? sell my microsoft? >> well, it depends how big of a portion of your portfolio it is, stuart -- stuart: a lot. [laughter] >> you know with, look, this is going to be a difficult environment for anything with a
higher multiple even an outperformer like microsoft. you have slowing profit growth across the s&p 500, you have slowing growth across the global economy, decrease liquidity, runaway inflation. that, you know, with all those things going on, i'm surprised the market's not 15-20% lower than where it is right now, but so that gives me a little bit of hope. and the labor market and the consumer are still doing fairly well. the lay labor market is absolutely on fire. it's hard to be a hero and sell all at the top, buy at the bottom. so i'd be lightening up on these volatile, high multiple stocks on days of rallies, and i'd be buying these high quality names yesterday or even today. stuart: you've got 30 seconds to tell me you think elon musk can transform twitter. >> yeah, he absolutely can. it just depends on how committed he is to free speech. so a lot of things that people are hopeful on, that that remains to be seen.
but to transform it into a profitable business, it needs a fresh new look, a fresh set of ideas, and taking it private makes the most sense to kind of completely reinvent the business model they have right there, because the name of the game is users. tens of millions of users and figuring out how to monetize that is the easy part. getting crushed on the platform is the hard part. is so i think a creative guy like elon and his team will do well. i would say it remains to be seen if he can -- [inaudible] stuart: okay. we're watching it. dow has opened with a loss of 200 points. we're now back to 33,841. at this moment the dow's down about two-thirds of 1%, and the vast majority, 27 of the dow 30, are in the red. another without of -- bout of selling in dow stocks this morning. s&p 500 is down a half percentage point, that's a mauler loss percentage wise -- smaller loss percentage wise hand the dow. the nasdaq down .if 8%, taking
it below the 13,000 level. look at microsoft, they report after the bell this afternoon. as you walk up to those earnings, it's down $2.57. and we've got google, hay also report after the bell today. they're down $14. now, as we said, alphabet, microsoft, or they report after the bell. can you give us some kind of preview? lauren: their revenue's expected to rise to $68 billion. that's up 23% in the past year. look, search, that will be strong, but you might see a slowdown in youtube because of tiktok. alphabet shares, they're down 11.5% this month. stuart: in one month? 11% down? lauren: yeah. and for alphabet, it's their worst month since march of 2020. is that's google. stuart: i wonder if the investors are sort of telling you, dropping it down 11% in one month right before the earnings, i wonder if they're figuring out this ain't gonna be good.
talk about microsoft. lauren: supposed to be a good quarter for them as well with revenue rising 18%. they have such leverage with their office platform that that could help them get more customers and they can take cloud market share away from their competitors. they also have even after after you discount what they're paying, the $70 billion for activision blizzard, $130 billion in cash. you might hear more acquisitions from microsoft as they work to stay competitive. stuart: they report at 4:00 this afternoon. have a look at ups. they reported this morning. i remember them as being a pandemic wave winner. pandemic winner, basically. has the wave stopped? lauren: well, what happened -- so they sharpeddenned their -- sharpened their focus, shipping for more profitable companies where they could charge higher rates. something just happened on the conference call, and that's why the stock is selling off right now. executives said, look, high fuel
prices, inflation, china lockdowns, that resulted in a 3% fall in u.s. volume in the first quarter. all of those issues remain, so likely the current quarter they're going to see a dent as well. stuart: and that came out in the call. if the financial results and then the ceo or whomsoever, they get on the call, and that's what that person -- lauren: yep. changed the story for the earnings, yep. stuart: pepsi, they reported this morning. i know they raised prices, and i know that they're shrinking the product by putting fewer chips in a bag. lauren: isn't that annoying? stuart: i guess the market didn't like that. they're lauren i'm going to call this no reaction to the report card. we heard a few days ago some of these consumer products companies saying, look, we keep charging more and they're still buying products, but they're cautious that might change. pepsico still raised their full-year revenue outlook, but, yeah, the stock is not rallying on pretty decent results.
stuart: with the exception of oil companies, everything's down this morning. how about general electric? they're down 7%. lauren: wow. they blame china, covid, russia, it's easy to blame these things, for cutting their revenue by six percentage points. they also said the inflationary pressures are hitting their health care unit that will persist at some level throughout the course of this year, and they're working to offset those headwinds as they call them with more price increases. so we keep paying more money because companies are paying more money. stuart: all right. sherwin williams, the paint people, they're up 8%. what are they saying about supply chain issues? lauren: it's getting better. the worst is behind them. so they've turned the corner. revenue in the last quarter, $5 billion despite what they called choppy, raw material availability. so it's getting better. and, actually, this is the highest close, the highest trade for this stock in nearly two weeks. stuart: all right. digital world acquisition,
that's trump's social media platform. lauren: yes. stuart: we know president trump says he's going to stuck with truth social, not going back on twitter. is that why digital world acquisition is up a little bit? lauren: it's only up a little wit, it was down 12% yesterday. but, yes, i think this helps. when trump says i'm sticking with truth social, i'm not going to twitter. so that's the story there. but, you know, the high for digital world acquisition was 175. stuart: 175 -- lauren: remember just about $10 and they went all the way up to 175, and they're finding their real footing right now at 36. that's the chart. stuart: if you can, can you throw up twitter, pleasesome let's see how heir doing. they've been trading now for 5 minutes, everybody knows that musk has got it. he's offering $54.20. lauren: down 1.5%. stuart: okay. all right. dow's down 200 in the first 5 minutes worth of business, and twitter's down 1.7%.
strange. musk is offering $54.20 per share. he's got the money. the stock's down at 50.80. lauren: maybe investors think they left some money on the table, right this many that's maybe what shareholders think at this point. they still have to vote on this. the stock was at 66, recently the i high was 70. stuart: along comes musk, it goes up to 50. lauren: but the deal's not done. maybe investors are saying there are things that could impede this deal, even regulators, right? stuart: that is true. on your screens right now, ladies and gentlemen, dow winners headed by chevron, of course, an oil company. ibm is back there as well. interesting stuff. s&p 500 is, the winners headed by corning, both lauren and i are squint ising at the scene. lauren: archer daniels. stuart: and the nasdaq by cadence. little moan companies on that list. known companies. lauren: automatic major players
are reporting in one week. we haven't seen that in a while. usually leads into a second week. stuart: it better be good. dow is in business now for six and a half minutes and we're down 150 points. that puts us back at 34,000. the yield on the 10-year treasury, wow, look at that. more flight to safety. money pouring into the treasury because it's safe. pushes the price up and the yield down. 2 the.74 -- 2.74, who would have thought? bitcoin at $40,000, just at 40 to ,000. oil, 99.91, very close to $100. nat gas climbing 4% higher, almost back to $7. the average price for a regular gallon of gas creeping up surprisingly, $4.13 is your price. in california you'll pay $5.68. all right, big tech censorship gone wild. facebook and twitter censored over 600 posts critical of president biden in the last two years. what happened to free speech?
can musk get it back? don't even think about writing mankind. google launching its woke writing feature for inclusive language. we'll tell you what else has been banned. and larry kudlow says musk's takeover of twitter is a political can earthquake. want to hear more about that. larry: -- larry is next. ♪ yeah, who do you love? ♪ ah, who do you love? ♪♪ ♪♪ i got into debt in college and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right.
stuart: i like that graphic. twitter takeover. my question is, lauren, is the white house worried about the twitter takeover. >>? lauren: well, i want say, yes. jen psaki wouldn't directly comment on the takeover though. listen to this exchange. >> reporter: are you concerned about the kind of purveyor with
election information/disinformation helpful sort of having more of an opportunity to speak there on twitter? >> we've long talked about and the president has long talked about his concerns about the power of social media platforms including twitter and others to spread misinformation, disinformation. the need for these platforms to be held accountable. lauren: they lost their mouthpiece, right? i mean, they did. [laughter] the political elite, the left in silicon valley, they will not be able to control the algorithms anymore. and you have a lot of people -- i haven't tweeted in months, but you have a lot of people like tucker carlson, for instance, others saying we're now tweeting again or, look, i gained all of these followers overnight, just like thatting you know? stuart: i want to bring in larry kudlow because larry's saying something i think is very interesting. heads up, larry, you're on. why is musk's control of twitter a political earthquake?
>> well, look, it's boeing to be door, reopen the door to actual free speech. stuart: exactly. >> which is great for democracy. >> just in time for the november election are. >> the left -- yeah, it's season months ahead of the november elections, and so he calls himself a free speech absolutist. i mean, here's his line, this is how he's going to run twitter: free speech is the bedrock of a functioning democracy, and twitter is the digital town square where matters vital to the future of humanity are debated. you can just think of this, people have been banned, almost all of them conservatives, have been banned from twitter and these other places like facebook and google and apple, but especially twitter. sex, gender, racism, cooed i would -- covid, political, january 6th, open borders, crime. i mean, all of these issues,they
hay don't conform -- if they don't the conform to a woke, leftist point of view, they get banned. stuart: yep. >> and that's why i'm saying because of the importance of twitter -- or at least i assume the potential for twitter, i think they'll pick up followers -- the this is all going to change. i i mean, just in the last, what, 24 hours i'm reading tucker carlson, my pal, tucker carlson, the babylon b, charlie kirk, peggy nance from concerned women, they've all had their accounts restored. i haven't been on twitter in years, i might go back on twitter. a lot of people may go back on twitter. conservatives who were banned will go back on twitter. and, again, this comes in the runup to the election. it's the woke left's biggest nightmare. stuart: okay. that's the politics of it. turn it around and look at the economics of it. can musk make this a very profitable and dynamic,
forward-looking company? >> well, look, i have to believe he can. i mean, among other things everything he's done has been spectacular. i mean, this guy's a genius. the left is already attacking him. listen, this is so much fun. black lives matter is attacking him, the naacp, tragically, is attacking him. media matters is attacking him. all these washington post opinion writers are attacking him. "the new york times" is attacking him. [laughter] so they must see him as a significant threat. look, the guy's a great businessman, okay? and i believe he'll make a terrific go of this. my hunch is, stu, look, my hunch is a lot more people will either come back to twitter or will be allowed back on twitter or will flaunt, new people will flock to twitter because it now becomes more free speech democratic, small d. so i think they have an excellent chance to pick pup lots and lots of advertisers.
walt disney and other woke companies may not want to advertise. tough adapters. who cares -- tough darts. who cares what they want to do? their day has come and gone. this is a tremendous victory for free speech, a tremendous defeat for the woke left, and i just love it. i am irrationally exuberant over the political consequences of this move by my hero, elon musk. stuart: i just want to make sure i've got this right. [laughter] i i hear you, larry. afternoon -- [laughter] on your show at 4:00 -- >> i stuck inner ration aal exuberance. i thought that was pretty good. stuart: i got it. i got it. this afternoon at 4:00 you are not doing a special on options on derivatives. is that accurate, larry? [laughter] >> i actually know what that is -- [laughter] but, no, i don't think that's going to be a key part of our
show. stuart: i knew it wasn't. you've got a terrific audience, larry. you're running away with this thing, and i'll be watching like everybody else at 4:00 this afternoon. congratulations, larry. >> thanks, stu. stuart: see you later. coming up, the biggest 401(k) provider in the country now says you can add bitcoin to your account. it just drop below 40 grand. you may have herald bai -- heard of bai, it made my next guest a millionaire. -- billionaire. ben weiss has a new show on fox, ask and he's here to tell us all about it. he's next. ♪ i want to be a billionaire so freaking bad. ♪ buy all of the things i never had ♪♪ when traders tell us how to make thinkorswim® even better, we listen.
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idea. stuart: that was a clip from the new fox business with prime show called "billion dollar idea." the host is now sitting right next to me, ben weiss is with me now. welcome to the show. >> thank you, stuart. stuart: before we go on, i want to make sure i've got this right. billion dollar idea. you're looking all around the country for big, new ideas. you're going to select six finalists, you're going to bring them to new jersey -- lucky people -- and they're going to compete for up to $1 million worth of investment, right this? that's the show? >> that's the show. and what i love about the show, stuart, is that i literally go across the country, and i knock on their doors. they meet me for the first time, and, you know, they invite me in, which is intimate, you know? stuart: how did you come up with the people who have got the ideas? >> well, you know, we found them. they're out there in numbers, to be honest with you. there's over 5 million new businesses registered in 2022. that's up over 25% from 2019, so everybody wants to be an
entrepreneur. i don't know if they mean to be one -- [laughter] stuart: now, what kind of businesses have they got ideas for? is it manufacturing? soft software? what is it? >> it's mostly manufacturing, i would say. mostly product-based, varying degrees from literally idea prototype to businesses that may have been up and running for a few months, few years. but what i try to do is i try to get to know not only the idea, but the entrepreneur. and the support system that that entrepreneur has hat at home. i meet the family, i meet the entrepreneur, i meet the idea, and then i narrow 15 down to 6, and i invite them back to my basement in new jersey. sounds shady -- [laughter] stuart: lucky people, i must say. what kind of person is the entrepreneur that you're talking to? if complete cross-section of society? >> it is, and i can't pretend to be able to pick an entrepreneur out of a lineup or an idea. but what i can do is put the entrepreneur with the idea,
understand their support system knowing the journey that they have to get to their consumer in a meaningful way, and that's the process. that's where entrepreneurs are really born, in that journey. i try to evaluate their tenacity, audacity and going out and doing it. stuart: is it your money that goes to this investment? >> yeah. stuart: you're putting your money down. >> and i'm taking the journey with them. stuart: that's a spectacular idea for a show. we'll be watching. "billion dollar idea" premieres tonight, 9 p.m. eastern. by the way, that's right after two brand new episodes of "american built," which is my show. here's a taste of what you'll see tonight, mount rushmore. my favorite, watch this. >> they dynamited away over 400,000 tons of rock. stu. stuart: a sculpture of amazing size from a sculptor who was larger than life. >> a guy like that just doesn't
quit. stuart: the danger? >> so they're hanging in mid a air -- stuart: -- and the heartbreak. >> hayed that to abandon it. stuart: how an army of men managed to carve mount rushmore. i always like to say how many permits would be required to build mount rush are more today. could you ever build it? the answer, no, you couldn't. tonight, fox business, 8 p.m. eastern. still ahead, florida congressman bye with ron donalds, brian kill need -- brian kilmeade and kurt volker. the 10:00 hour of "varney" is next. ♪ -- even try to give a little bit of heart and soul -- . ♪ give a little bit of heart and soul and don't you make me beg for more ♪♪ at adp, we understd business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless.
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the nasdaq composite is down 20% since the november highs of last year, down another 2%, 257. the 10 year treasury yield going down, this is a flight to safety. people getting into the safety of the 10 year treasury, prices go up, yield goes down to 275. the price of oil close to $100 a barrel over again and bitcoin dropped below $40,000. you at 39750 as we speak. another important read on the economy, the level of consumer confidence just getting the number. lauren: it fell in april 2107.3 and the reason is the present situation index, how we feel about current business and labor market conditions that sell a little bit looking into the future it went up. we are concerned about the present.
stuart: a surprise decline. >> the level was supposed to be 108. prospective all time high back over the summer in june when it was one hundred 28 so we've come down a bit. stuart: another number came out on new-home sales. >> weaker than expected. looking at the seasonally adjusted annual rate for new home sales 763,000 in the month of march so it fell more than expected, two relatively disappointing reports, the housing story, superhigh, rates are going up, continuing to raise rates. stuart: dow is down 260. stuart: now this. here we go again. the left hates what they call the billionaire class.
musk's take over of twitter has really got them going. we need a wealth tax says senator elizabeth warren, demand the extreme the wealthy pay their fair share says bernie sanders to which elon musk jiggly replied i keep forgetting you are still alive. socialists never have a sense of humor. the new york times chimes in with a study showing the top 18 families in america have average net worth of $66 billion. i don't expect billionaires, musk, bezos, zuckerberg, created companies that employ millions and those people enjoy high income and strong benefits. isn't that what the left wants? yes but the left wants government to provide those goodies which they never do. look what the superrich have done with their billions, musk has developed chesler, space x, solar city, the boring company monroe link and now twitter, all dynamic breakthrough companies.
bezos has developed the world's best online shopping company, aws cloud services, all dynamic companies. my point here, the accumulation of wealth has enriched america. all of us. the left believes the government should take the billionaires money and redistribute it. they will deliver the ignored what these entrepreneurs have achieved, the government could never invent amazon or tesla but don't care about that. all they want is the power to bring them down. i hope they fail. second hour of "varney and company" just getting started. that was quick. i was expecting a longer break with the graphic. why is the left so hell-bent on taking down billionaires?
>> it emanates from pure jealousy, that would be the first one but this is how they want to shepherd us toward the socialist utopia they keep parking on about. i spent 16 years in london and the folks over there in a restaurant at night, angry at the guy driving it from america, i wanted to know what his job was, maybe i could buy a lamborghini too. the last thing i had in 2019 when i came back is they were trying to institute social safety nets in this country, trying to institute a maximum way of come you couldn't turn $40 million. i couldn't believe what i was hearing. it didn't go through. it was scary to me. you can't earn more than x. that is insane. they are pushing everybody
towards that socialist utopia, it failed obviously but in america we want to punish those people, the goose that keeps laying the golden a, i say fetid, don't take away the food and the egg too but that is the problem with america sometimes, they have put to gather great businesses. they took wealth and created obligations to themselves where they deliver and they do. these private billionaires feel they are obligated and continue to come up with great ideas and should be rewarded for it but the idea they need to be honest for their success, winning is a 4 letter word in america. stuart: good one. that is exactly right. we will see you again soon. back to the market. a bunch of selling going on in
the nasdaq but whirlpool is moving up, the story. lauren: demand is slowing. how is the stock up 5%, they like sherwin-williams, said the supply chain issue, continuing to focus on high profit businesses which are ovens and refrigerators and making them more in america so the supply chain is improved, don't have to worry about shipping elsewhere. they are still in the range brown for the stock. doubling the number of locations where you can get them. example pharmacies. they go through the individual state. it gets easier and hopefully better for consumers to get covid and went to take medication. of the one show me tesla, down yesterday because of musk going
after twitter, going to sell some tesla shares, down another 6%. >> they are both down today, so interesting, tesla spends no money on advertising, elon musk does tesla, could clearly make that argument, one of the reasons twitter stock is down is there is fear the business model arose in people, advertisers shy away from using twitter if you can say anything you want, that is a guard rail. stuart: woke companies won't go -- >> very clean. stuart: fidelity is going to let investors put bitcoin into their 401(k)s. lauren: you can add bitcoin and eventually other crypto currencies to your nest egg starting later this year. the maximum out location is 20%. every company that uses fidelity? no.
20,000 comedies use fidelity's offer retirement plans the covers 20 million people. it is up to the company to offer it. not sure how many employers raise their hands because they go by the labor department and the labor department says exercise extreme care when thinking of offering digital asset investment to your employees? them being open to this really changes the long-term thinking on digital asset and crypto currency. stuart: i suppose so. it is changing gradually. lauren: a lot of people have owned or invested randomly in crypto currency but are they when they are ready to retire going to play in their retirement? stuart: i might need it. thanks. let's get to politics. according to the new book and the book is called this will not pass.
cedric richmond, i'm not going to say, expletive deleted idiots. i want to know what else is in this book. >> reporter: an overarching theme that cedric richmond and a few other white house senior advisors feel is squad members specifically aoc and rashida tlaib don't understand they don't have the leverage, statement i've sent you countless times sitting in this chair, also implication they are too stupid to understand they don't have the leverage and continue to try to push their party as far left as possible. that is the baseline. i would argue biden bought into that because look at the biden agenda through the first couple months of his presidency. they have gone further left than i know most biden voters thought he would go in the country is in the situation, the democrats are in the situation they are in because
the majority of the country doesn't want this. before you say it is all squad's fault their policies aren't very bright but they are giving the white house to do their bidding. stuart: before you leave us, we had a long discussion about billionaires. they are models of how to expand and run businesses, almost natural heroes. give me 30 seconds. >> on entry, middle, and high school, there's a poster, almost every guidance counselor's office, for all the schools in new jersey, it is a big picture of a nice house with a lot of fancy cars, the benefits of higher education, they don't show a line where people can get the government allotment of food, bread as water. stuart: you turn that around nicely. in remembrance of your youth in new jersey. by the way senator joe manchin
has been weathering attacks from his own party. it is helping his approval. lauren: he is upset at 16 percentage points in a year essentially among west virginia voters, 57% approve. the biggest improvement of any senator and it is because of all voters among republicans. he is a democrat even though he has killed the biden agenda he is a democrat, 69% of republicans approve of him. he started to see the bump when he killed build back better. stuart: and when he attacked the squad like we have been talking about. >> matter of times before he comes to the republican side. i think it is. i can't see him sticking with these guys any longer. stuart: i wouldn't hold my breath. good stuff. the media melts down over elon musk buying twitter. look at it. role it. >> elon musk is the new power
in the social media giant and is foaming the runways for the return of the trolls. elon musk. >> is the fox coming into the henhouse? stuart: brent bozell has all the media meltdowns, there's a lot where that came from. a top russian official says the threat of nuclear war israel. trey yingst has the latest from kyiv in the next hour and a federal judge temporarily blocks title 42. bill. and has the report from the border next. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.
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the nasdaq falling sharply down 340 points. that nasdaq is down 22%, i called data bear market. let's move on. the body of bishop evans, the missing texas national guard soldier has been sound, tell us all about it. >> reporter: the body of the missing national guard soldier has been found. rangers take their investigation in terms of figuring out what happens. the people he tried to rescue were alleged drug smugglers. from texas dps showing the somber moment, 22-year-old specialist bishop evans's body, a flag draped over his body, you can see him saluted by
fellow guardsmen and texas vps troopers. he disappeared in the rio grande early friday morning it is the first texas national guardsmen to die in the river since operation lone star was launched last year. here is how the white house responded yesterday. >> we are mourning the loss of his life and are grateful for the work of every national guardsmen. i would note the national guard for the state, he is an employee of the texas national guard and his efforts and operation were directed by their, not the federal government. >> look at photos of the specialist i would point out jen psaki's comments are not being received well by officials in texas and national guard soldiers who tell us they are not happy with her saying a state employee sent here by the state, they say the only reason he was out here is the federal government isn't doing their job securing the border. in the meantime bishop evans's family held their own press
conference in arlington where they spoke about their loved ones. listen. >> bishop has always been a caring, loving child, to see someone in need or hurting and not help even if he didn't have it. >> reporter: late yesterday, with arizona, louisiana and missouri, a federal judge issued a temporary restraining order against the biden administration which will stop them doing anything with title 42 until there's a next hearing in the case which is set for may 13th so a small delay but significant nonetheless. send it back to you. be one got it, thanks, see you later. stay on the border. the white house was quick, this is in the past, to accuse several border agents of whipping migrants.
role tape please. >> i was outraged by it, it was horrible and deeply troubling, consequence and accountability. >> horses, people being strapped, it is outrageous, those people will pay. >> we know those images painfully conjured up the worst elements of our nation's ongoing battle against systemic racism. stuart: they were quick to get it wrong. congressman byron donaldson a republican from florida joins me now. why did the white house evade the question about bishop evans, he works for the state, not the feds. what do you think of that? >> i am his to about this. the reason they debated it and ignored it, the white house they are they doing their job
securing the southern border. no need to send the national guard if border agents are doing their job securing the border, a processing facility by president biden to process people claiming asylum at an illegal point of entry. the border patrol is so overwhelmed and overrun, governor abbott sent the national guard to help them. when jen psaki comes out and has the temerity and the gall to say they work for texas, they don't work for us that is shameful because when they saw they were whipping migrants she had a lot to say but when it is their responsibility it is their policy that has led to the death of a member of our national guard who happens to be black, they put the blame on somebody else. the more our of our border
patrol agents is very low. i was there last week talking to them. we have suicide among members of the national guard who are frustrated with president biden's policy when it comes to border security and let me not forget the fact that you have fentanyl, got cross at record rates which is killing our young people in the united states of america so president biden can get a silver and gold star from the radical immigration outfits in our country who want rampant illegal immigration in the united states. you've got to -- our men and women in uniform are losing their life and killing themselves because of your terrible policy on the southern border. we when i agree with you 100% but what i don't understand is why the administration can't see the political damage they are doing to themselves and the damage they are doing to the country and there is no response, just keep them coming.
i would have thought sufficient crisis to have gotten their attention, do something about it, it is going to ruin them in the elections. >> i will tell you they don't care. i will be honest. i have been to the border three times a year. president biden has never been, kamala harris was there for two hours, they do not care. they are more concerned with the radical immigration activists that went wide open borders in their party than doing the job of the commander-in-chief and securing the border for all americans. do we need people to immigrate to the united states, yes we do. we need it to be legal and orderly, not this reckless policy the drug cartels making billions in the process, the drug cartels love this policy because they it to traffic drugs and traffic people and make billions of dollars doing both, president biden doesn't care and he doesn't change. stuart: always a pleasure, thank you for being with us,
before we move on, in the right-hand corner of the screen, selloff in progress, the dow is down 363. the nasdaq, 300 points down. plenty of red ink. hospitals struggling to keep up with rising costs. i understand staffing costs for nurses is a big problem. >> labor costs on average, the cost to treat one patient up 19% from 2019 through last year comes from the american hospital association. so many companies paid an arm and a leg to get staff to come in and if you look at staffing levels and hospitals they are down 100,000 workers.
a lot of people didn't want to get vaccinated. i was talking to the ceo of a nursing company and he said we pay nurses a lot of money and it is down 20%. in the beginning of all this. drugs are another issue, cost to treat a patient with medicine up 337% since before the pandemic. b1 staffing cost per patient is up 19%, cost of drugs per patient up 37%. >> 36.9. of the one all other costs. >> that is what hospitals have to absorb. stuart: thanks. ford's new electric pickup lunches today, on the inside of ford's hottest truck, the new f 150 lightning. he was a high school coach who would pry after each football game. he was fired for it.
the case is before the supreme court. "varney and company"'s resident theologian, jonathan morris, takes that on next. ♪♪ ♪ ♪ i'm the latest hashtag challenge. and everyone on social media is trying me. i'm trending so hard that “hashtag common sense” can't keep up. this is going to get tens and tens of views. ♪ ♪ ( car crashing ) ♪ ♪ but if you don't have the right auto insurance coverage, you could be left to pay for this... yourself. call a local agent or 1-888-allstate for a quote today.
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stuart: check the markets and pay attention to the nasdaq composite, 319 points. there's been a shift from worries over inflation to worries about growth and that is why the growth stocks on the nasdaq are down big time. it is not the 10 year treasury yield that is doing it, it is down to 2.75%. that represents a flight to safety. you move to treasury securities, dead safe. if you hold them to maturity gets you out of the trouble of investing in stocks. that is a flight to safety. prices up. looking at the movers, figure them all out. 3m is down 10%. lauren: not much demand for masks anymore.
stuart: icy delta moving this way, only down a fraction. lauren: it is the first for an airline, they will pay their flight attendants during the boarding process. used to get paid when doors of the airlines closed, from the minute you bored passengers on a plane you know how long that takes, why are they doing it? delta is the only us carrier without a union. they have 20,000 flight attendants, don't think they want them to unionize. stuart: that is a good idea, that is legit. let's check twitter. musk is going to take it but the stock is down. lauren: it was updated from hold to a cell and like many brokerages, the 5420 price target today and that is the exact private price elon musk is paying but it is up $39. wise the stock down. i was going through some notes. maybe shareholders don't think
the deal goes through but piper sandler said regulators are unlikely to stop this buyout. does another bidder emerge in the reason? we don't see that happening. stuart: i don't have an answer and neither do you. ford launching the f 150 lightning pickup today. grady trimble is at the assembly line in michigan. i understand the f one 50 sold out already. isn't it? >> 200,000 reservations out the gate. they had to pause and make these vehicles and can't make them fast enough. we are right on the assembly lines at the rouge electric vehicle center. they posit for the morning because workers are participating in the big launch event with ceo jim farley giving us the opportunity to show you the inside. we are at one of the trim
sections where they are doors, seatbelts, center consoles. some information about these vehicles they go from 0 to 60 in the mid-four seconds range. that is the fastest at 150, from 230 to 320 miles and the starting price of the base model is just under $40,000 so that's competitive, a lot lower than other electric vehicles, we show you a different color that is available, big test for forward, and with demand so high with high gas prices they are trying to keep up with it. they can make 150,000 of these by 2023 shooting for 2 million electric vehicles by 2026. lauren: thanks, don't want to
move too far from the market with the selloff continuing, the nasdaq is down 2%. the dow is down over 1%-373 points and the nasdaq composite is down 2.5%. down from its highs of november last year. high school football coach would pray at midfield after each game. he was told to stop. he was fired. the supreme court is hearing a case. the conservative judges appear to be sympathetic. jonathan morris, our resident theologian will take this on. what is your reading of the case of this coach? >> what the justices have been doing is asking lawyers from both sides what the fact of the case are and that is in dispute, the question is whether or not this coach was
doing something on his own, free-speech, his ability to practice his religion at the end of the game, go to midfield, say a prayer for himself. the other side says this could be coercion, forcing or giving a strong motivation to his players to accompany him in his own particular prayer but it looks like the facts of the case are going to side with him that he was exercising his religious right and i think it makes sense. stuart: is there an element of exclusivity? don't know how to put it. let me see. is it a form of pressure, the court was worried students will feel they've got to get into the football game they've got to pray. left out of they don't --
>> that is a good question to ask but if this was a muslim football coach pressuring his players to pray according to his own religion would we be happy with that or not? that is what freedom of religion is about, and everybody no matter what their religion is should be able to pray but shouldn't be forcing it on anybody else. when it comes to a public institution is that institution, choosing one religion over another and imposing that in some way or coercing its members to participate. stuart: doing it for himself. >> not only the right, the left will go crazy over this, if he wins this case, if coach kennedy wins this case, they, a lot of people in this country say no public expression of religion, what the separation of church and state is about, that's not what it is according to the documents of our country.
stuart: we are in sync, we agree, thanks very much. elon musk buys twitter while logging back on, liberals leaving, how much fun it is. more on musk and the meltdowns next. ♪♪ you get up to 10x the speed at no extra cost. plus six premium entertainment subscriptions, included! like disney+, music, gaming, and more! (mom) delightful. (vo) saving you over $350 dollars a year. and for a limited time get a 5g phone on us! no trade-in required. (mom) amazing. (vo) this is the offer you just can't miss! verizon is going ultra, so you can get more. we hit the bike trails every weekend (vo) this is the offer you just can't miss! shinges doesn't care. i grow all my own vegetables
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stuart: hate to tell you this but the nasdaq is on track for its worst month since the financial crisis, down 10% in the month of april. tesla down significantly. if elon musk's deal to buy twitter goes through, some fear it takes musk's attention away from tesla and something he may have to sell total stock to raise some money, stock is down
8%. kelly o'grady is with us. when will musk officially take over the platform? >> he will be running the company in 6 months. no layoffs expected, the ceo will stay on. in the first 12 months he will take, 42 million-dollar parting gift, their strong opposition in the company, we joked about wanting to be flies on the wall, twitter locking down the products are panicked employees can't make rogue changes to the platform. how will this bake money? advertising is the main source of revenue and analysts fear unbridled free speech could leave woke advertisers to disassociate themselves from the platform, predicting advertisers could shift to platforms like youtube and tiktok. user metrics are key and you have a slew of blue tick accounts exiting for instagram, activist sean king deleting his account on that announcement
and liberal actor and activist saying farewell to her followers tweeting i fear this free-speech bid will help the pleach r final for of leatssotryigig guea rlsgu r l of ervoniveson n un de intagta fortha too or ungnesuns gntounxi eside the eamo r,o r,o itinges ti , co mpli kes kene d go ing wthokepathtwthit, teth, tisobae sta eer ch.ee. stua: uamortatn ithn an tel r.r. th e da thememts aemrererere apopopicr opmur mue witterwi.wi >> elon musk is the new power, he is filming the runways for the return of the troll. >> this is happening in the background with elon musk saying i want to buy twitter to open up and turn it into gab
and let donald trump back. >> elon musk is the fox coming to the henhouse and it is shameful that twitter which has a fiduciary obligation i would think to protect people who use it, did they ask a single woman was a single woman consulted? stuart: i think we need brent bozell who follows the media. is that the universal reaction? >> today is a great day for freedom, you and i have been talking about how without free-speech you can't have a functioning democracy. this entire debate has been over free speech with the left saying this ought not to be allowed. this -- let's understand clearly this has nothing to do with economics, nothing to do with work practices.
it is about elon musk saying i'm buying this company because we have to have free-speech in america to have a functioning democracy and the radical left is going apoplectic meaning if they don't want a functioning democracy. this is a totalitarian institution, silicon valley and along comes elon musk who tipped over the applecart just like desantis tipped over the applecart with dizzy in florida, the american people had enough of this totalitarianism. elon musk comes in and the right world is celebrating today. stuart: it is a wonderful thing putting the flags out, this is free-speech makes a wonderful return, thanks for being with us. sorry i am being so short with you. >> you are always short with me. stuart: i am sorry, i will fix it one day i promise. see you again soon and that is a fact.
thou is down 427 points. the nasdaq down 340 points, selloff mode all over again. brian kilmeade will take on the twitter drama and kilmeade is next. ♪♪ ♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things.
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stuart: now we are down 400 points for the dow industrials, that is a 1.2% jump and 340 points on the nasdaq which is a 2. 6% drop. that's a big time selloff. look at big tech. i'm sure all of them are sharply lower. microsoft and google report after the closing bell at 4:00. they better have good reports or that will be quite a selloff in progress. it is 10:50 one. here is where i want to start. companies that loudly supported black lives matter are silent. should companies be jumping into politics in the first place? >> when you talk about black lives matter, jotting these never down, nike gave $140 million, appliqué $100 million,
target gave $10 million, stuart: hundreds of millions of dollars? >> take the jordan brand, converse, and nike together, but black lives matter on the side of nba courts. why the nba the mba not upset? this money is not accountable. the ceo is not there. a lot of these causes, credit to michael bloomberg. they benefit from them, demand more from them. running out of financing, starved by the federal government, and said take it to the schools, give it to the teachers, don't go anywhere else. african-americans in america, everybody's heart maybe is in the right place but in 2020, you see the results. since the george floyd murder,
cops are bad and there is a narrative white america is bad so there's overcompensation, to feel better or subscribe to this cause. we aren't bad, the ramifications, foxnews.com came up with these never figured out murderers have gone up 40% since black lives matter since the george floyd killian to t-20. stuart: i wonder if they will get their money back. >> should they ask for it? public shareholders, somebody -- stuart: someone should say we want our money back, you gave it away and we want it back. before we go i've got to move on to this one. a new fox nation special coming out on thursday called who is elon musk. i think i am in it. i want your opinion.
is elon musk a genius or huckster? or a huckster? >> no doubt a genius, extremely bold and had great confidence. perfect home life, the ideal situation, divorced family, goes to canada, no one cut the brush away for elon musk or his brother. he's clearly a genius and is bold. he took great risks along the way. looks like tesla was not a big success. space x rockets were blowing up and worth taking from it is loans out. he had to figure out manufacturing on a mass level to a prototypical car that no one believed in. he took great risk. at the end of the special, led to believe we are a better country because he came to our country. stuart: i will be watching you on one nation this saturday
night, 8:00 pm eastern on fox news channel. >> thanks, stuart: a new report tracked how many times big tech censored criticism of president biden lodz i bet it was a big number. how many? ashley: media research center found a total of 646 cases of instances where people who criticized biden on twitter or facebook had their comments deleted commercial eve speech restrictions or were banned. the largest share of those were related to biden's notoriety for inappropriate contact as another quarter targeted for speaking about hunter biden's alleged foreign business dealings, censorship actions were from 20222022. politicians like donald trump and texas senator ted cruz and news outlets like the new york post, and the washington free beacon. stuart: never the new york times.
>> ukraine putting their lives on the line to defend the things we hold near and dear to us enshrined in our constitution and bill of rights. >> you can see we are seeing more sustained inflation because of that. >> letting twitter run amok and center people, those are over. this will become a public square. >> transform it into a profitable business, fresh out of ideas and it makes the most amount of sense.
>> haven't been on twitter and years since i got sick of it. i might go back in the run-up to the election. it is the woke left's biggest nightmare. ♪♪ american man ♪♪ american man ♪♪ stuart: american man ♪♪ stuart: that is what i am. american man. 11:00 eastern time tuesday, april 26th. lauren is laughing. i am an american, you know that? >> with a great texas accent when you decide to do it. stuart: check the markets, you're not going to like this. look at the dow industrials down 463, one. 3%, look at the nasdaq down 380 one, that is almost 3%. it is a major selloff obviously. big tech down on the downside, big time, look at them go down, microsoft, apple, alphabet, amazon, meta platforms all down in percentage terms, you know it is a big selloff when we use
percentages. oil trying to get to $100 a barrel it is there right now. $100, $0.09 a barrel. the 10 year treasury very interesting, the yield is all the way down now to 2. 73%. i have to keep saying that is a flight to safety. out of of the risk of stocks coming into the safety of treasury bonds, pushes up the price, down goes the yield, $2.73. the nasdaq is on track for its worst month since the financial crisis. what is behind that selloff? >> we can blame this on the rise of treasury bond yields, expected rate hikes, but what is coming into play is worry over a global slowdown, nasdaq is tech heavy, has to be concerned about a continuation on supply chain disruptions
given covid related shutdowns. and higher prices for industrial metals important to devices like lithium, gas prices up by 450% from a year ago. blue what is that a legitimate concern? concern over a global slowdown that is coming, do you see it coming? >> very much so. russia's attack on ukraine goes on, disrupting supply chains, putting upward pressure on prices of food, prices of energy, industrial metals, and the situation in china that is deteriorating, we could be looking at a week performance by the chinese economy and if china doesn't want to produce, the us consumer and us companies depend upon products
manufactured in china, yesterday, quietly, nobody mentioned this. i followed can industrial metals and the average price decline up 3.8% was the worst such performance since march 18, 2020, and that was at the start of the covid recession. stuart: i want your comment on the twitter deal, musk's twitter deal, looks like a victory for shareholders. what it looks like to me. what do you say? >> that is important, victory for free speech and victory for shareholders. this concept, this abstruse concept of stakeholder capitalism may be shunted aside. the corporation acts on behalf of the shareholder, not the stakeholder or whoever that might be and it is important management focus on providing the highest possible return providing the highest quality product at the lowest possible
cost. that is their function. if you are a shareholder and want to have some social change, you take care of that not by buying stock but going to the voting booth. stuart: you are all right, good stuff today. now this. at we devoted a tweet from one of our guests, it is a bad time to be woke. so true. those people who poured scorn in america are in retreat, wokeism is being ridiculed. musk takes twitter and senator warren says it is dangerous for democracy. as if banning a sitting president and suppressing the hunter biden story didn't threaten democracy. disney caves to the woke crowd, they won't say latest gentlemen, boys and girls of all ages, can't say that? the ridiculed.
what is wrong with that? desi announces they will work against florida's parental rights law, that's a bad move, they've lost the special governing rights to disney world, wokeism is costly. netflix loses subscribers for the first time in a decade, maybe all those woke offerings are not so attractive, the stock tanks 30% in a day. a new books is the white house director of public engagement cedric richmond referred to two woke squad members as expletive deleted idiots. if that had made public earlier maybe the administration would have avoided the damage, black lives matter which piled into the woke manage is a spent force, its finances under investigation. one example after another, it is a bad time to be woke. we should bring in the man who wrote that, rob smith, founder and president of the douglas society. i want to put the fool tweet up there.
elon musk is buying twitter. cnn plus has imploded. disney has a brand identity crisis the likes of which it has never seen. netflix is losing subscribers and a bad time to be woke. my question, is wokeism dead? >> wokeism is not dead but it is dying. let's talk about the fact that this is negative affecting lots of corporations from a business perspective. we've gone through the past decade of having every liberal far left agenda shoved down our throats via corporation, media, entertainment, via our celebrities, people are tuning out of this, hundreds of millions of dollars they spent on cnn plus as if they thought people wanted more of what no one is watching and wanted to pay for it so they spent all this money, that was a failure,
netflix losing subscribers, disney has always been a nonpolitical part of americana. as soon as they decided to wade into the woke waters they go down billions of dollars in shareholder value. i will give you one more. remember ee internals that underperformed a couple months ago. i heard how directed by woman i had a gay couple and all these things, no idea what the movie is about. not only are people rejecting these things but stopping spending money on them. stuart: that is what happens on live television. every now and again things go wrong, you get a freeze-frame or lose the connection, you cut off a guy in flight, and going at it perfectly. we will try to get him back but don't think we can. hold on, he is back. we cut you off in your prime. continue please. >> you cut me off in my prime.
the audiences and consumers of all this are basically walking away and voting with their wallets. disney has a brand identity crisis, cnn spent hundreds of millions to promote something nobody wanted and so we are not seeing the end of woke us but we are seeing the beginning stages of it dying because the only color that matters is green and when these organizations into entertainment media companies see this is negatively affecting their business they will move away from it. stuart: we've got a florida sheriff getting national attention for encouraging residents for learning how to shoot home intruders. >> i ran on for fact that i am a cop, not a politician. somebody breaks into your house in santa rosa county you shoot and kill him the chances of the reoffending after that are 0.
stuart: you are a florida guy, what do you make of that? >> i am a big proponent of the second amendment. what a lot of my friends on the left do not understand when they make gun control a factor in what they are talking about the second amendment is for everybody, the great equalizer in our society, it is for women, men, african-americans, everybody. i absolutely stand beside and behind anybody who wants to teach americans to exercise the constitutional right. i'm all about the second amendment. stuart: the times seem to be changing fast. i am out of time, sorry we cut you off. back to the market, still down
down down 470 on the dow. what do we have on chipotle? >> sales should top $2 billion but watch what it says about inflation and how they are affected by it and the consumer is coping with it. you heard about chipy, robot that will make tortilla chips? jack in the box down 3% testing artificial intelligence and robots because everyone is trying to cut back on costs particularly for labor. stuart: don't care about the robots but waking up to chipotle's earnings and seeing them down 5% tells you something, general motors got a labor problem. stuart: in mexico a union at their largest plant in mexico, 19% increase in pay, ahead of earnings after the bell. stuart: the first major refiner to report, green stock for you, profit has surged as their
margins double, 14 refineries, many operating at 90% capacity and continuing the current quarter. they are pumping but guess reports, exxon mobil, they will say something similar because there's big demand for fuel and a lot of shareholders don't like that. they don't want to to the oil company is making money, profitable and what rob smith was talking about, everyone is against woke. if you look at streaming companies everyone has a series about uber or it is hollywood's portrayal. some of those entrepreneurs did bad things but hollywood doesn't like success, they don't like business, they don't like entrepreneurship. >> thanks very much. lauren: where was i going with that. they don't like exxon, don't like profits, don't like success.
stuart: novak djocovicz was deported because of vaccination status. murders among black americans skyrocketing but you are not hearing about it from all those companies who stood behind the black lives matter movement. we have the report on that. the threat of nuclear war israel. that the message from a top official in russia as weapons shipment arrived in ukraine. trey yingst has a report on that next.
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up steam because we now have the dow close to 500 point loss, close to 400 point loss, big selloff in progress. the dollar is at a 2-year high. russian forces reportedly fired two missiles near a nuclear plant in ukraine, one person dead. another injured. those numbers are expected to rise. trey yingst is in ukraine. >> reporter: russian forces show areas on the front lines from kharkiv in the north to the lujan's -- luhansk region, officials continue to gather evidence about the russian atrocities here. >> she walked through her backyard walking to a small shed on top of our concrete vegetable seller. they didn't find us at first, we were sitting in shelter and
heard footsteps. outside their home east of the ukrainian capital, svetlana and her husband with russian troops, she describes the moment they were found. he opens the top, stated like this, aimed at us, the 46-year-old recalls the couple stayed for two weeks before evacuating. their home was damaged amid the occupation, stretching for miles, residential blocks flattened by shelling and tank fire, homes of residents and neighboring areas destroyed. in the bovary region villages turn to battlefield as russian troops advance on the capital of kyiv. ukrainian forces fire artillery and antitank missiles at those russians. nearby ukrainian police document russian gear left behind in the ruins of a school. the investigators are taking
photos and swabbing for dna. anything to preserve evidence of russian atrocities in their town. they were living here, drinking here, stall alcohol from nearby shops. when investigator explains, ration boxes and clothing littered the long dark hallways of this building, proof the russians used civilian structures for military purposes. >> they took over a school to use as a base and police say before they left they mind the whole area and to blowup a school. >> reporter: with no progress in cease-fire negotiations ukrainian leadership understands the destruction they are seeing around the city is a fraction of what is taking place across the country. stuart: a shocking report, thank you. let's bring in ambassador kurt volcker. what is the significance of the big meeting in germany today, 40 nato defense ministers
meeting with secretary austin. the significance please? >> this is a big deal, for weeks the us was holding on the level of assistance we were providing, that changed in the last two weeks and the united states pulling nato defense ministries together to assure a steady supply of arms to ukraine so we are helping ukraine win the fight. stuart: our own jennifer griffin reports there are now we 82 ten large cargo planes arriving every single day putting heavy equipment into ukraine, that's what we want to hear. >> this is what we have been pushing for, the united states was concerned about provoking russia or ukrainians would not win and it could fall under russian hands but the ukrainian
military success, pushing forces from kyiv so they are only in the east, the atrocities, it is clear the united states and allies are in to help ukraine win. of the what if the russians were to seize control of ukrainian ports like mariupol ukraine became land locked, that would be a significant putin win, wouldn't it? >> it certainly would and it is what they've talked about as part of their objective, debt beauty commander of central military district which runs these operations speaking over the weekend says they want to go all the way to mold over, so the southern coast of ukraine would make ukraine landlocked and be significant hit to ukraine's economy. fortunately it looked like russia doesn't have the wherewithal to do it but doesn't mean they won't try and there won't more loss of life. stuart: this has the russians rattled.
sweden and finland want to join nato. strategically i think i'm not an expert but that would be a huge move that would turn the baltics the, a direct threat to vladimir putin. >> sweden has been a nonaligned country for 300 years, finland since world war ii and these countries are watching russian aggression against a neighbor with unspeakable atrocities, willingness to use force and threats and they are saying neutrality is not an option anymore, they need to be part of a secure alliance, part of the european union and 20 one other you but he did members are part of nato because they see their value in security and the swedes are coming to the same conclusion. of the one what a situation, thank you for being with us today. much appreciated.
better check the markets, not heading any further south but we are down south big time, 439 points on the dow, the selloff continues. interesting story, they will be the first major airline to pay flight attendants when the plane is boarding. typically flight attendants don't get paid until the door is closed. interesting factor. delta is going to pay them when they come down the jetway. show me jetblue, 9%, they cut their summer flight schedule more than 10% and now this. murders among black americans skyrocketing. we remember all those companies that stood behind the blm movement, what are they saying now because they gave the money. ashley: they are saying nothing after weighing and so loudly on
social justice back in the summer of 2,020 when we saw protests and riots coast-to-coast in support of black lives matter and defund the police movements following the death of george floyd. corporations weighed in from amazon to facebook, google, millions of dollars calling for social justice while companies around the country pledged millions to various organizations that demanded changes in policing and allocation of funds from police departments. two years later a dramatic spike in black murders with experts blaming the blm and those defund the police movements. fbi data shows in 2020 murders spiked by 32% compared to the year before. that marks the largest single year increase since the agency began tracking crimes but those
corporations are pretty quiet now. we went deathly silent. ice says the number of immigrants and migrants at the border will triple once the white house lifts title 42. what is california, a sanctuary state, doing to prepare? i will ask larry elder. a new study shows democrats losing confidence in education. is our country walking away from education is the key to the american dream? bill bennett will say yes when he joins me next. ♪♪
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lauren: it is all about the cloud for microsoft, amazon, alphabet which is reporting after the bell. what microsoft is doing to increase their market share is all those companies don't use the cloud so much. they are hatching a plan so their rivals don't come in and get the smaller companies, this would be better news for the stock down 3% but they are trying to get more market share. amazon, 30% to 40% market share followed by microsoft. microsoft is growing, know what is going as fast so they are trying to keep that up. we will see if they announced the plan. stuart: i will be watching. the white house announced plans to boost access to antiviral covid pills.
give me the story. ashley: the administration announcing plans to double the pharmacies that carry antiviral pills to combat covid. it is difficult to find a doctor to prescribe the medication or a pharmacy that carries it when they get sick. the white house has a number of test to treat programs and pharmacies and clinics where people walk out with a 5-day regiment of pills after testing positive for the virus. the antiviral pill is from pfizer, studies have shown it can reduce the risk of hospitalization or death by 90% when taken within 3 to 5 days of the start of symptoms and there has been increased demand caused by the oma cron sub variant be a 2. stuart: wimbledon making an
announcement about vaccine requirements for tennis players, will they need the jab or no? >> wimbledon organizers will allow unvaccinated players to compete in the tournament, sally bolden of the all england tennis club says the requirements set up by the government to enter the uk does not include mandatory vaccinations and therefore is encouraged but not a condition of entry to compete, there are no plans implementing any covid restrictions and full capacity crowds will but you invited to watch the tournament. the vaccine decision opens the door to novak djocovicz to open his title, the australian open, his opposition to receiving a covid jab but he doesn't have to worry about it wimbledon. stuart: he will be back. look at this. a new study from the american
enterprise institute shows democrats have lost the confidence of the public on the issue of education. bill bennett is back with us, former education secretary. is america walking away from education is the key to the american dream and if we are walking away from it why? >> we are walking away from some parts of it. the american public is embracing education but taking it away from some of the people who have been responsible for it like the teachers unions, confidence in schools is down. we saw that in covid as people look over their kids shoulder and saw what they were learning but they still believe in education but they want more control of it so more school choice, more charter schools, more homeschooling, more parental involvement. that is a good thing, not a bad thing, not a retreat from education, a retreat from certain educational institutions. stuart: that is the exact
opposite of what the administration wants to do. the administration doesn't like charter schools, voucher schemes, private education. they want everybody in lockstep with the teachers union, we are going in opposite directions. >> we are going in opposite directions but this is the end of woke i think that you have been talking about all morning and it is a serious and substantial matter, people are saying this is too important, these are not just to us as parents, we are going to take it on ourselves so we will see how it works out. public schools better change their nature and change what they are doing, change how they are teaching if they want the public's confidence to remain. stuart: if we can turn education around think what a difference it would make to the united states of america and its youngsters. that would be fantastic if we could do it.
>> it would mean hundreds of billions of dollars if we did a good job at education, if we taught every child how to read confidently by a third grade the economic consequences would be enormous so that the opportunity is there. now let's seize the day. stuart: when i look at some high school graduates, i think they are not really educated but are educated to become political activists. mi on to something? >> definitely on to something. we've done a better job propaganda than math, reading, music, art, science, that is part of what needs to change, this attitude denies thing, creating this ethic of challenge to american institutions we see through the school curriculum, started in the colleges and universities but trickled down using
economic term to the high schools and middle schools, this is what parents are reacting against. we want that diploma to mean something but it doesn't mean much in america. stuart: i wish we had more time, you get 5 full minutes, not a miserable 2 and half. i will fix it. >> i would enjoy that. stuart: are we going to talk legalized marijuana? got to get into that one. thank you very much. stop what you are doing. a pilot ejected from a plane, parachutes to the ground, that was not the plan. america's best-selling vehicle for 40 years getting electrified, we show you the brand-new ford f 150 lighting as it prepares to roll off the assembly line today, that is next.
stuart: check the markets. the dow is down 561 points. stocks contributed to the dow's lost. microsoft, visa, boeing, goldman sachs, they are taken to gather shading 200 points. without these stocks the dow would be down 350. it is a selloff big time. the story we showed you with the video. this was a plane swap stunt over the weekend ended in a crash. nobody heard. why is the faa investigating? ashley: because the faa says it
never gave permission for the stunt to go ahead. the plan was for each pilot but there says the 182 into a nosedive, jump out and skydive across to landed a different aircraft than the one they had taken off in. what could possibly go wrong? it did as you can see with one of the planes spinning out of control as it plunged it to the ground in a crash. it happened in arizona this past weekend. most pilots survived, the other incredibly managed to skydive across to the other aircraft in that nosedive, climb into the cockpit and land safely. part of a stunt sponsored by the energy company red bull and the streaming platform hulu. the faa not happy, investigating after, denying a request from red bull to be granted a safety exemption to carry out the stunt in the first place. no one was hurt, except a plane
-- stuart: what could possibly go wrong. good story. this one, ford launched their all new electric f150 lightning today. mike has been on the show before. seems like ford is taking a gamble through their best-selling vehicle, is this going to work, electrification? >> the crown jewel, the best car sold in america. last year they pulled 700,000 f-series trucks and when they launched it 11 months ago, 200 reservations on the f-series. 's into the gamble? i wouldn't bet against jim farley who knows what he's doing and has been successful with the ford mustang marquis cell going into a market saturated with truck drivers that want to have a truck like
this. those preorders are a telling story behind it. what is interesting about this truck right here, on the economic standpoint, major league baseball, nfl, nba, hockey, this generates more revenue, $43 billion last year alone than those four professional sports combined. from the root assembly plant, bill ford said this is the true model t moment. i'm on the final assembly line, these trucks are going through the door and out on that. the white one has your name written all over it. it is under $40,000, $34,000 and this red one, electric is part of the game plan but this is a truck, 2000 pound towing
capacity, and the best part is you will see without dealership the next few weeks. stuart: i want that acceleration. got an internal combustion engine. i've got to go. short time here. programming note. season 2 of my fox business prime show american built premieres tonight. >> they dynamited away 400,000 tons of rocks. stuart: a sculpture of unusual size. >> incredibly engineering accomplishment. >> from a sculptor who was larger than life. >> the danger. >> hanging in midair. and the heartbreak. >> they had to abandon it, dynamite what they made. stuart: how an army of men
managed to face the nation. >> you adapt to overcome. >> carving mount rushmore. stuart: season 2 of american built room yesternight, 8:00 pm eastern followed by the new show billion dollar idea at 9:00. here is coming up. elon musk buying twitter for $24 billion. larry elder says he wants to see trump back on that social media site. larry is next. we hit the bike trails every weekend shinges doesn't care. i grow all my own vegetables shingles doesn't care. we've still got the best moves you've ever seen good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but, no matter how healthy you feel, your immune system declines as you age increasing your risk for getting shingles.
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stuart: the markets tell me it is a selloff, the dow is down 500, the nasdaq close to 400 points, tell on the downside significantly. a loss of 9. 5%. tesla is $900 a share. now this. >> the new power in the social media giant foaming the runways for the return of the troll. >> happening in the background, elon musk saying i want to buy twitter to open it up and turn
it into gab and let donald trump back. >> elon musk is the fox coming into the hen house. stuart: the fox coming into the hen house. the liberal media, i am convinced that larry elder loves musk buying twitter, don't you? >> i absolutely do. i have been on twitter for 10 years. somebody told me at one point during the campaign i was the most googled person on the planet except september 14th was election day. like a light switch i began losing followers to the point where as of yesterday i lost 30,000 followers losing hundreds every single day. all of a sudden the last 24 hours i gained 2,000 followers, coincidence, i don't think so. donald trump should be back on the platforms, for four years
hillary referred to the presidency of 2016 as stolen, or word, not mine, called donald trump illegitimate, her words, not mine and pushing the big lie a bite 2016, her platforms have not been shut down. donald trump's has been, i hope one wrong will be righted immediately and now that elon musk has got twitter. stuart: spiegel of the left wing echo chamber. another one for you. ice preparing for a historic surge of migrants as the biden administration prepares to lift title 42. you live in california. you know california is a sanctuary state. how are they preparing for a big surge for california? >> the governor's welding the surge believing illegal aliens should be able to get in state tuition, it has got to be done
by design, the biden administration is by design. after obama became president, one of the top union officials, one of the largest unions in the world publicly said if we can make illegal aliens become citizens two thirds of them will vote for our agenda. we will have a progressive governing coalition for the long-haul. they are importing voters. this is an outrage and only fox is covering it. i watch a lot of cnn, so they are ignoring this, the american people if they knew what was going on would be outraged, more outraged than they are. blue when i don't think the biden team will lift title 42 because the political repercussions are severe. i don't think they will do it. >> i think you are right, growing number of democrats in swing districts, in tough races are coming out saying this is outrageous and we should have a plan if we plan to repeal it and he has no plan so i think
you are right, political pressure from his own party will be so severe he will back down. stuart: doing a favor for california, for the administration. you are all right, thanks for being with us, see you soon. look at this. 11:fifty five. you know what that means? your favorite. a lot of people like this because the questions are good, our producers come up with good stuff. in what year was the atlantic city boardwalk build? was 1834? 1851? 1870? 1898? four choices. your call. correct answer after this. for mac. who can come to a stop with barely a bobble. lucia. who announces her intentions even if no one's there. and sgt moore. who leaves room for her room. with usaa safepilot, when you drive safe...
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>> getting excited about mask wearing, lauren. let's change the subject,. lauren: you really want to gamble in atlantic city. stuart: what year -- atlantic city boardwalk. i didn't understand that. 1878, 1978, ashley you guess first. >> i will go, 1870. stuart: 1870 sass ashley. >> i was taking 18512 i have no idea. stuart: i take 1898. you are right, ashley. >> yea, rather lucky than good. stuart: june 26th, a
railroad conductor came up with the idea after boardwalk to keep sand out of railroad cars and out hotels. i like that. the boardwalk was originally a 8-foot wooden walkway that could be dismantled in the winter. it spans four miles. interesting information, constantly on this program. >> i've been on the boardwalk many times. stuart: let's see if neil cavuto can keep the pace of information flow going. neil: i was surprised you forgotten that, remember we were at different news organizations, we covered the opening of the boardwalk. you had the facts, i had stuff on people getting splinters and all. you don't remember any of that? stuart: i remember 100 years ago very well but yesterday is a total blur, neil. you will find that out. neil: are you kidding? i'm there now. thank you, my friend. we'll keep up the pace. you said it. dow jones industrials, cycle lows, certainly today lows, down 582 pois.