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tv   Varney Company  FOX Business  November 29, 2022 10:00am-11:00am EST

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ashley: a little bit of lady gaga at fox square, in midtown manhattan. at 10:00 a.m. on the east coast, i am ashley webster in for stuart varney, more red on the screen, the dow is down 11, the s&p is flat, the nasdaq is flat. it is a weight as you are morning on the equity markets after yesterday's selloff. all 3 major exchanges lose one. 5%, more muted today. 10 year treasury yield on the way up about 5 basis points, 73%. the price of oil has been going up, $79 a barrel or thereabouts.
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as for bitcoin essentially flat in the 16,000 range come up 168 bob -- we just got the latest read on consumer confidence. you have a number. lauren: it is a november number so it is fresh, 100.2, slightly better in october, 102.2. with inflation not as confident, but relatively confident. ashley: i would say resilient given the high cost of everything. and now this, people are spending. a new poll shows 62% of americans want republicans to investigate hunter biden, waiting a long time. the same reported add 61% believe the president knew about his son's china business dealings. jason che fits --chaffetz
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joined me now. republicans say there will be an investigation but how soon do you think it will happen? we have waited for a while. >> it is in motion. you can do letters of preservation, jamesr come and others have put it in motion. they are hiring staff to get up to speed, outside organizations doing their own investigations. they will get off to a roaring start, after the first requests for transcribed interviews and depositions. ashley: how damning do you think it can be? >> there are voicemails, text messages, videos. what people should understand, it is not as if hunter biden in week one will testify. there are a myriad of other people who see this. the banks from a business point of view will get these
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requests, 150 suspicious reports given to the government, and they forded those abilities so they will be subpoenaed, issued to these banks to get suspicious transactions between biden family members and overseas banking interests, that's pivotal to the investigation and will expose the flow of money. ashley: democrat congresswoman -- dug congressman from virginia donald mceachern passed away following his battle with cancer, he was 61 years old. that means there will be a special election for his seat. what does it mean? already a razor thin majority for republicans? >> i was sad to see his passing, which nobody would have to go through this, he's too young to have that happen. this last congress there were 7 members of congress that passed
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away during that 2-year term. this is going to happen and when you have a balance of power, 3 or 4 seats, you can't fill these immediately. for senator a governor can just appoint these but there has to be a special election in the house and that takes months on end. kevin mccarthy's issue, he has to try to get to 218 votes, that day january 3rd, that's the big vote. ashley: glad you brought that up. you are with us for the hour. 5 republicans publicly opposing congressman kevin mccarthy -- who are they and does this mean he can't get enough votes now? lauren: he can only lose four votes if you wants to be speaker and these 5 congressmen
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have said no way, we don't support him or have voiced opposition so here they are. robert norman, andy biggs, matt rosendale, some demand more control over the house agenda, one reason kevin mccarthy restored subcommittee assignments for marjorie taylor green and paul goes are and plans to dump elana omar from the committee. ashley: come back in. do you think kevin mccarthy will be the next speaker? >> he's the odds on favorite to do that. republicans at the end other they have to get to 218 on somebody. the problem is the freedom caucus took a vote in kevin mccarthy last lost 31 votes on that at 5 have come out publicly. the question is who can get him over to 218? it's not an easy path and the drama will happen up until that
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day, i don't think it is a clear picture. ashley: drama is good in the news business but not for those fighting. next to lauren, just over a week until the georgia senate runoff and a record number of people have cast their ballots. how many voted and assembled a? lauren: 300,438, yesterday was the first day early voting was open in every county in georgia but the point is local interest has not waned. state election official says georgia voters facilitated the hard work of county election, poll workers shattered the old early vote turnout and he continues come democrats have secured the senate with 50 seats but this georgia race determines if rafael warnock, a victory by him over herschel walker expands their majority in the chamber.
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ashley: a lot of people voting there. thank you very much. back to the markets now. scott shelladdy has been on varney so many years joins me now. you said this last time you were on, jobs is the key metric and if they are all over the dreaded s word and have stagflation, do you think that could be on the horizon? >> that could be the case and jobs have been resilient, almost as resilient as consumer confidence you just read off. we haven't seen a lot of amazon layoffs, and those numbers haven't come through yet and the jolts number, every job seeker, those need to be sorted out. with what is happening with
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housing and other parts of the economy, inflation at 7%, there's going to be some pain at some time. we are whistling by the graveyard. on my show i'm accused of being a doom and gloomar, i try to say with a smile. i'm not going to comment how great the view is. i will let you in on what happens when we get there. how we handle things when we get there. jobs are going to be the key, it is going to. ashley: the new york fed president john williams says the fight against inflation could last into 2,024. that's not a good sign. do you agree with him? is that a possibility? >> that could be the case. 9% inflation was the high, down
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to 7. 7 and everyone is doing a victory lap because we have a right trajectory but not so fast. here's the problem. that's one. 4% of inflation we've taken off but took 6 rate hikes to get there. if you want to get to 2% we got 5.7% more to knock off the inflation number. how many interest rate hikes will it take and how long will it take? let's remind ourselves how sticky things are. the biden administration went into competition with small businesses by paying people more to stay home or go back to work, wages have gone up so much some of the prices you're paying at those restaurants are because of inflation but some of the prices at those restaurants is because of the labor cost added in too. once we take inflation from some of those places they can't ask people to cut anymore, that inflation is sticky. that is why it will take a long time. it will not take as long as it did last time around. last time you took from nixon
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to reagan to get inflation under control. four presidencies. it will happen faster. ashley: there's nothing stagflation about your jacket and bowtie combo, as always you brought your a game and there is no doom and gloom, thank you so much. lauren, come back in. what about roku? lauren: they were down 3% on a downgrade. they say roku was not a platform for media partners, that does not bode well for management. look at novak, the world health organization listing for the covid vaccine, now it allows use in teenagers and a booster in adults, that is up 6% and ups, deutsche bank says get bullish on them, they are going
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up 22%, $220 a share. they say too many are focused on volume growth to think about the productivity initiatives. ashley: very good. now this. former vice president mike pence slamming donald trump for his dinner meeting with kanye west and holocaust denier nick fuentes. >> donald trump was wrong to give a white nationalist, anti-semite and holocaust denier a seat at the table. he should apologize for it. ashley: david avella will be with us and i will ask if donald trump should apologize. john kirby defend the white house's decision to ease oil sanctions against the venezuelans. >> why is it president biden would rather let us companies drill for oil in venezuela than here in the us?
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>> the president his you should 9,000 permits for drilling on us federal land. there are plenty of opportunities for oil and gas companies to drill in the united states. ashley: i will ask the president of the american energy alliance if he thinks there are plenty of opportunities. he is on the show next. ♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.
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ashley: president biden is going to tout his green agenda
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while speaking at a manufacturing plant in michigan. edward lawrence is at the white house. what can we expect today? >> reporter: the president is leaving in a few hours to make the argument that his economic policies have led to a manufacturing boom. the white house playing word games when it comes to jobs. >> during his remarks president biden will highlight his economic plan, it is leading to a manufacturing boom, growing the economy and creating good paying jobs. the economy has created more than 700,000 manufacturing jobs, 10 million total jobs created under this president. >> reporter: according to the bureau of labor statistics the economy under president biden added back on the manufacturing jobs lost in the pandemic and created 137,000 manufacturing jobs over the past 22 months. the economy added back all the jobs lost in the pandemic and
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created 804,000 jobs. as this president pushes that green agenda energy is up 17. 6%, fuel oil to hit homes is up 68.5%, natural gas and electricity up double digits. instead of changing energy policy to address this the president is doing a deal with venezuelan dictator nicholas maduro. >> they throttled the oil and gas industry to the point our national security is at risk, and you are now putting it in the hands of act dictator in venezuela. the only place you can go that puts you in greater danger would be in russia and we saw him do that by allowing the nordstream 2 pipeline to go forward. >> reporter: the president will not change his energy policies. that has been his redline since day one.
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ashley: it has indeed. let's bring in tom pyle, president of the american energy alliance. the white house says plenty of opportunity for oil companies to drill here, they are just choosing not to. what say you? >> completely inaccurate, a flat out lie. we've asked, tract 125 specific actions this administration and the democrat congress have done to slow or stop oil production in america. he has an america last energy policy. he would rather get oil from iraq, saudi arabia and now venezuela than from texas, and mexico in north dakota, doesn't make sense to anyone other than the fact that he wants to placate his big donors who don't want to see fossil fuels produced in this country and we
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are hurting and will continue to hurt under these policies. ashley: what is really agree just as this was predicated on we need to get away from fossil fuels, it's terrible for the climate, we are in a climate crisis but he's okay for this out is to continue to pump oil, and as far as i know they are both still on planet earth as well so surely it is disingenuous to make the environmental argument. >> not only disingenuous but production in venezuela has been decimated because of maduro and his socialist policies. they don't produce oil and gas as clean as we do, there oil is worse for the environment than our oil. it's not about the climate. it's about an agenda where they don't want these resources. he said before the election no more oil.
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ashley: how devastating for jobs in this country? >> it is crushing, not just jobs in red states like texas and louisiana. oil and gas, caterers, banks, real estate agents, folks in minnesota who bring sand over, the boots, it's not just jobs in the industry, it is across the economy. ashley: good point. thank you for joining us, we appreciate it. coming here, jason, what do you make of the biden administration allowing chevron to pump oil in venezuela? >> we have a dictator in venezuela. why get rid of the bands they put in place and say wyoming or alaska or utah or places like nevada. if they treat these states the
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way they treat venezuela and others, capital would go to this. don't stand at the podium at say 9000 permits, they know darn well you have to get multiple permits, you have to get environmental impact studies will go through a myriad of things and there's a reason capital won't make this investment. they know they had been a straight and behind-the-scenes is doing what they can to shut them down. ashley: thank you. new england faces a looming energy crisis. what are energy leaders and firms in that part of the country saying? lauren: it has been around a century, it requires american ships to deliver fuel, they don't have pipeline so they have to import their gas and diesel. the problem is american-made ships cost more, 5 times to build and there are 0 natural
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gas tankers. the white house should waive the federal statute to give residents and relief this winter and if there is any saving grace is that the weather has been warmer. ashley: so far, oil prices turned negative for the year. the big question is could we have cheaper gas in time for christmas compared to last year. >> we have two key events that come before christmas, we will get close to what we saw last christmas. nationwide gas prices are coming down, gas buddy points out under $3 in 5 states and they could move under four on the west coast. refined from crude oil, oil went negative, $74 a barrel, the china demand destruction
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story, that is demand drying up. they come december 4th and december 5th. opec needs to determine output. the eu and on russia's oil takes effect, they are yet to announce a price. all of that will move the markets ahead of christmas. ashley: thank you very much. louisiana's attorney general says the public will be shocked when it learns how little doctor fauci could recall on critical restrictions and helped to craft during the pandemic. that story coming up. cnn medical correspondent wants to bring back mask mandate to protect people from the flu. roll it. >> wearing a mask will help protect you against the flu not to mention things like rsv and covid and other respiratory diseases.
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ashley: doctor frank con contracesssa will take that next. ♪ ♪ ♪ 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.
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ashley: it is quiet on the markets. fed chairman powell speaking tomorrow jobs report, we are treading water. the dow, the s&p and nasdaq slightly higher. you are looking at movers today begin with ralph lauren. lauren: i say ralph lauren a perfectly acceptable. jpmorgan says say whatever you like because shares are going up 22%. there price target is 132. holiday shopping, ralph lauren is a beneficiary, same propellants on. they sold equip it on amazon, you had black friday, cyber monday, what was one of the top purchases? exercise gear this is up 6.4%, up this week by 7% and look here, these are the oil
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tankers, they are up, some are up 3%. jeffries turns. . it is getting cold, supply is tight, we are talking about the you buddy deb been coming. all this means prices will go up and these names will be beneficiaries. ashley: interesting stuff. scorpio tankers staying. thank you very much. mask mandates are returning to other countries for air travel, phil keating is in miami. could mask mandates come back here? >> anything is possible but it does not appear that's going to happen for the time being. call it the virus trifecta or triple threat of illness but health experts are warning you could get sick this holiday season especially as holiday
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travel reached and exceeded pre-pandemic levels. mandatory masks back on air flights in brazil and australian cruz lines. in the us masks remain entirely voluntary based on this video for miami international airport, the vast majority of travelers go mask 3 but some health experts suggest bringing back the masks. may be a good idea for you and your friends and family. the 3 viruses of concern, covid, the regular flu, rsv, respiratory flu hits children especially hard. >> we have two vaccines we are trying to promote to people, a hard thing to do because there is covid vaccine and fatigue, people are being asked to roll up both sleeves to get both of these vaccines now but it is very important.
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>> covid cases relatively flat nationwide, tens of thousands testing positive every day and 30 state seeing higher than normal respiratory virus infections. according to the centers for disease control and prevention the seasonal flu activity in the us this season is going to be elevated and cdc data, 12% of americans, 12%, then got the booster, 1/5 americans still remain completely unvaccinated. ashley: great stuff, thank you very much, cnn medical correspondent pushing for mask mandates to protect from the flu. listen to this. >> all the advice i will give you, you have heard before. there's nothing new under the sun. it is very basic stuff, things like getting a flu shot so
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important, washing your hands frequently and if you want to, no one is advising you, wearing a mask is going to protect you against the flu not to mention things like rsv, covid and other respiratory diseases. ashley: doctor frank con contasessa, our masks the way to control these rising cases? >> nice to be with you today. when you talk about masks, let's talk about what kind of mask you are talking about. a cloth mask or paper surgical masks won't be terribly effective against any respiratory infection. of a person wants to wear and higher quality, there's some efficacy in preventing respiratory infections. when people hear advice like that, what the other guest set on the clip, no one is advising you to but if you want to, what
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does that mean for people? i think people have to look at their risk factors and risk stratify the message has to be more nuanced. if you are elderly, immunocompromised, have risk factors, maybe it's a good idea to wear a high-quality mask when you go into a crowded situation. if you are reasonably healthy we should treat this like any other year prior to covid we mask up during flu season, if you get sick you get sick and they are down for a few days and get back to work, the message has to be more nuanced. ashley: i want to talk about the flu. a surge in cases, jumped 30% in one week, so did the flu shot not work this year or is the strain that contagious? >> it is a bit too soon, takes more time for us to analyze which strains are circulating.
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it appears the strain that is out there, number one seems to hit elderly a little harder than the average population which is troublesome, data shows the vaccine might be a better match than usual. my concern is vaccine fatigue might prevent people getting their flu shots, because of the fuss that was raised about the covid vaccine sent people say i am tired of rolling up my sleeve and putting stuff in my body. may be less people, i'm seeing that with patients now, people normally get a flu shot every year are saying i'm going to forgo it this year, if i get sick i get sick. ashley: very quickly can you get flu and covid at the same time? >> you can. the good thing is 90% of people had covid once or more than once or had exposure to it but if you get covid again it will
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likely be a mild illness. the flu causes more severe illness than covid does so you can get it. you can get it simultaneously. ashley: i'm not tempting fate. thanks for your great information, we appreciate it. the louisiana attorney general jeff landrieu says doctor fauci couldn't recall critical decisions he made during the pandemic and last week's deposition. what else is he saying? lauren: or didn't want to. he said or he told fox news digital the public is going to be shocked as to how much doctor fauci can't recall, the most important actions and discussions when the pandemic was on our shores, it is disturbing and calls into question his overall mental capability to remember certain key details, we don't yet have the transcript of the 7 hour deposition. it is still sealed.
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the attorney general and eric schmidt and senator elect, suing the biden administration for colluding with big tech to censor free-speech, they want to know how did doctor fauci as a nation's top dog and authority on covid, did he work with social media to control covid communications doing things like stifling any information like the lab leak theory or risks of the vaccine, that is what they are trying to find out. ashley: come back in here, jason. how disturbing is it that doctor fauci has selective memory? >> really concerning. he should have been fired a long time, there should be term limits on the upper echelons of government, he served in that position more than 40 years so it is pretty stunning. he's going to get time to
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testify in front of the public because house republicans are going to call him up time and again to get to the bottom of what sort of financial dealings did he have, how did he become a multimillionaire while serving as a public service employee for so long, where was the origin, malpractice by the democrat-controlled congress, they didn't hold the single hearing about the origins of covid 19, you did a thing about masks, they never did a study on masks and their efficacy. why didn't they do that? these are all types of things fauci is going to have to answer even though he has departed the government starting in january. ashley: jason can take a deep breath and we will move on. elon musk getting ready to spill twitter's secrets and his fight for free speech as the white house pledges to keep a close eye on the billionaire owner. connell mcshane will have the
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ashley: elon musk is going after apple over twitter advertising. connell mcshane, good to see you, what is musk saying? >> if apple hates free-speech in america, not exactly subtle. things getting ugly between the richest person in the world and the most valuable company in the world and if you think about it what is happening here, apple through its apps story and the money it spends usually on advertising can be especially valuable and important company to twitter so that's the context to keep in mind as we look at these musk tweets.
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apple mostly stopped advertising on twitter, than the question, do they hate free-speech in america? apple threatened to withhold twitter from its apps store. musk put up all up asking if apple should publish censorship actions, we are waiting for the results and he says he will open up about twitter before he arrived at the company. the twitter files on free-speech suppression soon to be published on twitter itself, the public deserves to know what happened. as for apple, the iphonemaker has its own issues with free-speech. in china the company reportedly taking action that in the past has been used to get around the sensors and these new restrictions allow people to air dry to someone who is not in your contacts for 10 minutes at a time and that was put in place in china before the recent protests began.
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between workers and police at a plant where the iphone is made, we've been reporting on it in recent days, no response from apple to our requests for comment on any of this and twitter does most of its talking to its owner's twitter feed. the bottom line on this financially is elon musk said twitter is losing $4 million a day with advertisers kind of revolting and in many cases when they do so they say they are concerned about content moderation, an area where apple because of the apps store had a lot of power. ashley: quite a battle going on. the white house speaking out about misinformation on twitter. what are they saying it is musk responding? lauren: the white house is saying they will not allow twitter to incite violence and monitoring and keeping track.
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musk is responding, in part he says why are so many in the media against free-speech? this is messed up and just wait because twitter, the site, is coming clean, the site owns details of its suppression of the hunter biden laptop story over two years ago, he will post details of that and other things soon to be the town square of free speech and open it up and letting people know what really happened. ashley: can't wait for that. now this. a rainy and journalists take aim at us soccer players, pressing tyler adams of disco nation in the us because this is team usa preparing to take on iran, can't wait for that. brian kilmeade is all over and is on the show. hey, are you ready? ♪
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i want to talk about soccer. uranian journalists taking aim at us soccer players during a press conference at the world cup, pressed american tyler adams on disco nation in the us and it comes as iran reportedly threatened the families of national soccer team with imprisonment if they don't behave during the match. i'm not surprised by what tehran is up to but what is your reaction? >> 70 subplots to the game they have to win, they tied in one, number 16 is better than that and wells who is one-one tied at nothing to be ashamed of but when iran got a victory over wales, they have a well coached team packing it in. the subplot is the uranian players refuse -- a lot dipped their heads during the national anthem.
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they threatened their families with imprisonment and torture if they get it again. one of the best players left behind is in jail and any protests, the people who showed up in support of women being oppressed in iran and killed in cold blood, just 400 with 18,000 being arrested. if you are protesting in the city, the qatar officials rip you out of your seat. how unbelievable is it this happens in this horrible country? ashley: from iran's point of view i imagine the regime in turnaround is conflicted because if iran does, god for bid, the further iran goes, it puts the spotlight on the protests of what is going on inside of iran. >> we have the ayatollah's
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niece condemning the grand ayatollah. people are getting bolder and bigger. i wish our government would speak up in support of the protesters. barack obama admitted one mistake i made is making a bigger stand during the revolution in iran, he didn't want to become the problem. the vice president was biden. the sea understand, you don't have to send any forces in, i stand up for the people, what about these female activists who want women's rights, don't they see these uranian men and women standing up for women's rights in iran and this 22-year-old was killed for not wearing the right his job - hejab? so many causes for people to speak up on, but first and foremost, tyler adams was brilliant in his response, i come from black and white family, play with all kinds, constantly getting that are in
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america with determination everywhere, i love it. the longest time watching people put down america in america, i love them to represent us positively overseas, best country in the world. ashley: no kidding. good luck to the team, thank you so much. love talking about the world cup, thank you very much. i want to bring in jason c cha chaffetz, you have been watching a lot of soccer games in the world cup. how great is this competition bringing the world together like this? >> more people watched this than any other sporting event it is not even close. it is great. i am with brian kilmeade, i want to keep politics to the side of it but the president of the united states has a duty
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and obligation to support those protesters in iran and china and offer a degree of support but the game today on fox 1:00 eastern, cannot wait to watch this game at hope they kick their ass. ashley: to your point they will and they are looking good. thanks for joining us for the hour, great to have you here. still ahead florida senator rick scott, kurt volcker and david avella, the 11 am hour of "varney and company" is next. ♪ ♪
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i remember the gift, it was one of those gifts that it just landed perfectly. i figured this is a great holiday present since i won't be with him for christmas. it was the best gift that i ever received,
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because it opened up my life. unwrap your family story, with ancestrydna. hi, i'm jason and i've lost 202 pounds on golo. so when i first started golo, i was expecting to lose around 40 pounds and then i just kept losing weight, and moving and moving and moving in a better direction. with golo and release, you're gonna lose the weight. >> i think the american people deserve to know if president biden has been involved in these foreign dealings which be a violation of his duty. >> jobs have been really resilient and we haven't seen a lot of the amazon layoffs of 10,000 or facebook layoffs of 11,000. there's going to be some pain out there at some point in time. it's lik


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