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tv   Varney Company  FOX Business  April 24, 2024 11:00am-12:00pm EDT

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>> free-speech is in court and on-campus. you've got to have a clear boundary around. when these guys go over that boundary they are gone. this is an speech. its intimidation. >> american universities are fostering an environment where hatred towards minority groups including jewish students and others is thriving. >> he is gaining sympathy less because he is stuck here than looks political and the democratic da going after him. >> this is a long-term problem that has been coming on for years. people talked about rising anti-semitism in europe for a decade. also in the united states and it is been ignored. ♪ stuart: i always like the
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rhythm this man brings to the program, gets us moving. 11:00 eastern time. it is wednesday april 24th. move to the markets, 90 one minutes worth of business under our belt, the winner is the nasdaq which is a 50 one points, largely on the back of chesler, dow was down a hundred, s&p down two, we are all up, now they are not. we do have apple, microsoft and meta on the upside, alphabet and amazon on the downside. the 10 year treasury yield had been going up, still going up, 4. 65% as we speak. now this. now this. the case for banning tiktok is strong, the chinese communist party, a portal into 170 million american users. congress has taken action. cell tiktok within a year or it will be banned. don't hold your breath.
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china's government does not want to sell it. they've that classified all important algorithm as sensitive technology which means official approval for any sale outside china. they can and will say don't sell. there is the inevitable lawsuit, tiktok will say a for sale is a violation of its users first amendment rights. the government cannot ban a form of communication, politics will come into this. tiktok is popular, with younger people. young voters are not likely to be impressed with national security arguments, they know what they like and where to keep it. fairness comes into it too. countless businesses based on tiktok because it works best for them. they've got a killer algorithm. politicians beating up on tiktok to get rid of a difficult foreign competitor. one more thing, who has the
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money to buy tiktok? the price is somewhere north of $50 billion. microsoft and other companies would like to be ruled out on antitrust, they can't buy it but they let the sale go through, china would want top dollar. much more than $50 billion. there is bipartisan support for forcing the sailor banning tiktok out right, getting it done is something else entirely. i will go out on a limb and suggest one year from now, tiktok will still be around, pretty much operating as it does now. i expect an argument from my next guest, deroy murdock. will tiktok be around one year from now? >> will be around? who will own it? it is possible and it should be. some chinese letters on it. the difference, and what you are doing and what you are thinking, very busy, pumping
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america, they got us clashing with each other. giving tremendous evidence of how his comments, defending israel, and the same thing on instagram. and this is a great opportunity, they complain about the media. ken griffin and people who are wealthy hedge fund types should get together and have access to a platform that will be safe. stuart: you want it sold so the chinese communists have controls. >> out to be bought by americans. stuart: we can agree on that. >> doesn't feel right but america should buy it.
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stuart: next one, trump released education policy video saying the college system has failed. here is a clip. >> colleges have gotten hundreds of billions of dollars from hard-working taxpayers and now we are going to get this anti-american insanity out of our institutions once and for all. stuart: trump says he will take the radical left out of higher education. how is he going to do that? >> one thing to do for starters, if you don't allow free-speech on campuses, allow anti-semites to run rampant don't expect federal research money. one of the last things he did in his fourth year was implement policies that said the first amendment has to be respected and you have to have free-speech, bare minimum, if you want to operate in the united states, get any federal support, uphold the first amendment and that students and faculty have free-speech.
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and deliver remarks, something you see happening coast-to-coast across america. stuart: donald trump is tied up in court in new york city. if he has the time out should he go down to columbia and meet students like speaker johnson is doing today? >> a great way to do it is go across to the center for jewish life started by robert kraft. he announced robert kraft, he will cut off his aid to columbia. trump ought to go and meet with jewish students, show solidarity and challenge people like president biden and chuck schumer and kamala harris and see if they show up and stand with jewish students at columbia and hide back in dearborn, michigan. stuart: i would love to see what the reaction is. let's check the markets. where are we now? the dow down one hundred 20, tiny gain for the nasdaq, looks like there's been some selling. mark tepper joins me now.
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you are the market leaders today in the current round? >> same story. look at the magnificent 7, now is the five, minus chesler, minus apple, the fab 5 is responsible for 67% of the year's 6.8% return, that's where the lions share of performance is coming from, you have to pay attention to those companies but to buy into this being a healthy market rally you have to see things broaden out, have to see participation from the average stock. for the viewers at home, and easy way to do that at home is measure performance difference between spi which is the s&p 500 and rsp which is the equal weight s&p 500. when the equal weight is closing the performance gap and or outperform you have a healthy market. stuart: let me talk about chesler for a minute. the rally big time, they will produce some cheap cars and
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going on with the robo taxi. >> i totally agree they need to come out with a more economical vehicle, it's 10 plus years i would think. it will help them but the robo taxi, robots making cars, they need to focus on a less is more strategy, get back to blocking and tackling, do what they are known for. looking at their multiple, trading at 10 times the multiple for gm and ford. that's but a crazy. stuart: big tech, some reports this week, others next week. to the same question, if one of them stumbles, do they take down the hall market. >> the market has hinged
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itself, nvidia is the poster child as relates to a are. if they with, you're going to see a big selloff. stuart: we will wait and see for that one. stay there please. investors in kathy would's arc funds told they are jumping ship. why pulling out? >> they are pulling out because it is not doing well. it's a decent reason. money poured in during the pandemic. they've seen that losses, take a look at this. 2.2 billion in net outflows due to staying in stocks that did well during the pandemic. zoom is down 10%, tesla and roku down 30%.
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they sold their nvidia position, investors not happy about that. they upped the total price target to $2000, she may be right in the long run but has a target for $2000 on chesler. one of the previous guests said 600 but her flagship fund stumbled 16% for the past year, the s&p 500 is up. they said i can do better elsewhere. stuart: $2,000 on tesla. >> that the $5 trillion company. stuart: rich indeed. stuart: i would laugh at that one. coming up. remember actor who played the mob boss in sunny, sunny was the mob boss, he play the role. it was in the bronx. watch this. >> about to be loved or feared.
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>> simple question. nice to be both but very difficult. if i had my choice i would rather be feared. stuart: born and raised in new york, calling out president biden and mayor adams can do nothing to address the migrant crisis. on the show. israel says it will expand the civilian safe zone, we are ready to let israel to wipe out hamas and finish the job. cory mills response to that next. ♪ ♪ giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more -
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stuart: at the mass graves were discovered near two gaza hospitals. jeff paul joins me from tel aviv. do we know what happened? >> palestinian officials in gaza say they found hundreds of bodies buried throughout the ground of two hospitals and found these bodies after israeli forces according to them, withdrew from the area. the nature of their deaths is unclear, that's a big part of the reason why the un is calling for clear translation. they uncovered 310 bodies at nasser hospital, some have been found with their hands and feet tied. claims that they buried the bodies are baseless and unfounded. during operations at nasser
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hospital, bodies buried by palestinians were examined by the idf in an effort to find hostages are missing people, adding it was done respectably and in a careful manner and bodies were returned to their place. when asked about the discovery of these mass graves, here's how the state department responded. >> the reports are incredibly troubling and we are inquiring with the government. i don't have specific information to offer insight into what this is or isn't, don't have a sense of it here but we are inquiring with the government. >> reporter: beyond the war in gaza the back-and-forth between israeli forces and hezbollah continues to escalate in southern lebanon and using jets and artillery, hit 40 targets linked to hezbollah fighters after hezbollah said it fired dozens of rockets at a village
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in northern israel. in tel aviv the focus for many seems to be squarely on getting people who were taken on october 7th held hostage back home. we continue to hear about rallies in the city and we will hear about more of those as these talks, israelis and hamas talks seem to be stalled for the moment. stuart: thanks very much. cory mills, we just heard from the president, he said our commitment to israel is ironclad. what happens if the israeli storm rafah, wipe out hamas with significant civilian casualties? will the president support that and will you? >> i can tell you that i don't see the idea of going in and storming without any regard to human safety or human life. they made clear their new strategy, trying to look at, would further minimize what they are already doing but i
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spent time over 7 years in a rack and afghanistan, co-servo, pakistan, war is a very ugly thing that you want to do your best to avoid. the fog of war things that take place, the fact that you have someone like hamas was not a conventional fighting force but insurgent terror organization using human shields from the innocent palestinians, these are things that are very not preventable. we have to recognize that hamas is a terrorist organization to recognize president biden is responsible for the fungible assets that iran has been utilizing, the fact they haven't enforced sanctions and president biden allowed tens of billions of dollars to go continuously in oil trade and delisted the houthi rebels, he can't be pro-iran and pro-israel. stuart: is it true to say
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republicans, almost all republicans favor the elimination of hamas in gaza and democrats -- >> anyone with a basic sense of humanity can condemn what hamas has done, 1200 innocent within, children, men, young men who were murdered, slade, raped, beheaded, the atrocious event cannot be something we continue to support or defend. we need to eliminate these terrorist organizations with the people, palestinian and israeli people can try to live in harmony and peace. stuart: how should we respond to the proxy attacks on our troops in a rack? the process of iran, how do we respond? >> bottom line is we have no business being an air act, no task force agreement, we are advocating a response billion
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congress and article 1 section 8 clause 11 by using what i deem unconstitutional authorization, use of military force, these are not areas we need to be in the trained and equipped and prepared, we can't help that in 2005 under article 76, we allowed iran to come in and take political stronghold with parliamentary block such as of those by the former prime minister so what's happening is we have to look at parliamentary changes through the constitution if you ever wanted to see peace and stability a rack. without that we are cannon fodder for iran putting troops at risk which is unnecessary and should bring them home. stuart: thanks for being with us today. the us reportedly taking aim at chinese banks. what does this have to do with the russian military?
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>> us is alleging china is not sending weapons to russia but using their banks to fund things like sending them airplane machine parts, helping them rebuild their military so they are drafting sanctions and at the most extreme this would cut off some chinese banks from the global financial system so prevent them from accessing the us dollar prevailing currency, conducting banks from global trade, lead to them failing, customers getting hit. it would also potentially hurt a china that has been trying to recover rather sluggishly so the report comes at an interesting time, secretary blinken set to visit china this week, essentially this is a warning, we could hurt you but you doing something similar with russia when this started. they always find another way.
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stuart: no surprise at that. get another check of the markets please, almost two hours in, the gains we saw earlier in the day have faded, the dow was down one hundred 50, nasdaq is up a mere 9 points. president biden was invited to give the commencement speech at a college, some of the faculty want the school to rescind the offer. they don't want to have them speak, the man they call genocide joe, don't want him at the graduation, we will follow up on that. member the children's book, if you give a mouse a cookie, it's about how if you give into unreasonable requests people expect you to do more and more unreasonable things. alicia finley saying that's what is happening in college campuses and across the world, she will make her case next. ♪
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stuart: quick check of the markets, nasdaq is holding on to a small gain, very different from two hours ago. mark tepper's stock picks. i'm interested in him and her health.
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they sell testosterone. >> telemedicine for stigmatized conditions whether it is hair loss, sexual health, acne, depression, anxiety, a lot of this patients want a level of discretion. this is a stock i got involved in last november, went up to $17, down to $12, not because there's issues with its business but because it's a smaller company and small-cap stocks have suffered. probably 50% to 60% by year end. stuart: baby boomers are the biggest buyers of their products. >> looking at longevity, anti-aging. stuart: baby boomers for hair restoration things and testosterone. >> getting up in age a little bit. got to stay young and in a full environment. stuart: trying to make this interesting.
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>> this is our am and a plaque on morgan stanley, they have strong quarters as it relates to mandate, tends to be weak when you think interest rates are going higher, don't want to negotiate a deal by country and find out financing costs are through the roof 9 to 12 month later, rates are not going much higher so mna is going to kick into gear this year. stuart: you saw a big game for him, him and her. >> 40% to 50% upside over the next two years. stuart: now this. republicans putting pressure on the white house to restore order on college campuses which are they don't the schools could lose their federal funding. hillary vaughan at the white house for us. how much are these ivy league schools getting from the feds each year? >> reporter: the dollar amount is staggering, columbia raked
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in $1.2 billion in federal funding last year. and why you, 805 million. that is all taxpayer cash going to these universities and republicans in congress are demanding an accounting of how this money is being spent. in a letter to merrick garland, education secretary magill cardona, 2 dozen senators telling them to use the full force of the law to prosecute, even deported any protesters breaking the law and cutting off money to schools orange protecting students, writing, quote, school administrators failure to protect jewish students from dissemination or harassment violates federal law and is ground for those schools losing access to federal funds espousing support for terrorists such as hamas violates federal immigration law and is grounds for deportation. secretary cardona addressed the protest saying the university is under investigation, quote, i am deeply concerned by what's
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happening at columbia university in november. of the office for civil rights opened an investigation of columbia but we can't comment on pending investigations which every student deserves to feel a sense of safety and belonging at school. speaker mike johnson will be at colombia, house republicans say they want to get to the bottom of who is behind it. >> it's possible we don't know who is behind it. certainly, agitators, george soros or communist china or marxist anarchist organizations, that's a coordinated effort. lauren: another big question republicans are posing to president biden about his student loan forgiveness, the question is what is this money going toward and what are students actually being taught? stuart: inquiring minds would like to know. thank you very much indeed. looking at this headline quoting directly. if you give a college student a
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cookie, it says it helps explain the dangers of indulgent, unreasonable requests around the world. alicia finley wrote that and joins me now. you say we are giving things away to everyone without expecting anything and they expect even more. some examples please. >> case in point is electric vehicles subsidies. i don't think these companies are in these subsidies but you socks as low when it first started, demanded subsidies from california as well as the federal government, by the way, lost tax exemption, that wasn't enough. and others demanded consumer tax credit for consumers to buy electric vehicles. and charging stations so companies have demanded the
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government fund charging stations but another demanding tax credit, for the electric vehicle, demanding just a total ban on gas powered cars to force people to buy electric vehicles. stuart: a logical progress. are you talking about a moral problem here as well as an economic and political problem? >> you are seeing that on college campuses around the world. there is a moral hazard, another example of that, people demanding they get what they want, they get them both and demanding more things. irani and moellers demanding concessions for the biden administration and negotiation over the nuclear agreement and then sanctions relief and using that to produce weapons to threaten israel so there are more dimensions as well. stuart: most of the 230 people
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arrested at columbia and nyu and those protests will walk away with no criminal record. do you think they should have a criminal record? >> they should have a, record and be expelled. in ministry to should make clear that those who are trespassing and threatening violence should be expelled and that would solve the problem quickly and that is the when you talk a moral hazard, when you don't follow through on that people get used to young people get used to getting wind of these. stuart: that is pre-severe for young people. young people often do stupid things. and regret them later. >> that's true but maybe they wouldn't do these stupid things. stuart: you got it. i love your writing in the wall street journal. thank you very much. thank you very much indeed. one college facing, rescinding
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president biden's invitation to speak at graduation. which school are we talking about? kelly:is morehouse college and there's a pro-palestinian group called the faculty and staff for justice in palestine lambasting the college's decision to have president biden who they are calling genocide joe, and they said this, time is now for morehouse college to get on the right side of history, rescind invitation to president biden and use moral authority to call for an immediate cease-fire in gaza. the decision to invite president biden was made by the administered in, not the students, they feel students and faculty should be involved in these decisions. this all comes as presidents are sweeping universities across the nation. i can't help but highlight this is a campaign stop for president biden. morehouse is a historically black college, he needs, he shows up and has a giant protest.
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stuart: i'm going to leave that alone. thanks so much. coming up, the ftc just voted to ban most noncompete agreements. does that make it easier for people to quit their jobs? the clear service people skip to the front of tsa lines but it is expensive. in california, what they want to change that in the name of equity, you can't have expensive things, poor people will get hurt. we will explain after this. ♪ ♪ and when i got there, they have the sushi- this is clem. like sushi classy- clem's not a morning person.
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jane you stuart: the federal trade commission voted to ban most noncompete agreements. i'm trying to think this through. with that make it easier for people to find another job?
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>> yes because you wouldn't be prevented from doing so under this noncompete. this is a big deal because this marks the first time in 50 years the ftc has mandated an economy wide change in how economies compete. the ftc estimate 30 million, one in 5 americans are under noncompetes are going you will get 8500 new businesses every year because of this, 29,000 new patents over the next ten years, they said this, noncompete clauses keep wages low, suppress new ideas, rob the american economy of dynamism. the ftc's final rule will ensure americans have the freedom to pursue a new job, start a new business or bring an idea to market. they may have approved this but there will be a lot of lawsuits, companies don't want you taking your ideas other places. stuart: why should you walk to another company, take all the current company's secrets with you and have them use it at no expense?
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you run a business. >> we don't have noncompetes but they have a nonsolicitation agreement. at a bare minimum you can work for the competition but you' re not going to take my clients with you. "my take" is this is not the government's place to get involved, this is where the employer and employee need to negotiate. employees have had so much leverage on employers over the last few years that there is no better time to negotiate these things than right now. stuart: if i'm about to leave, my employer can say we like you, you can stay. what's wrong with that? >> tough conversation. simple. stuart: not always easy. we've got the dow down one hundred 50 points. right now, the justice department is meeting with the families of the victims of those two boeing 737 max crashes. what is the goal of these meetings?
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>> reporter: this morning's made his with the families of the crashes comes as the justice department is reviewing an agreement it made with boeing after those two crashes and as part of this deferred prosecution agreement, boeing paid $2.5 billion to settle claims that they defrauded the faa during the approval process. under the agreement the company would avoid criminal charges if it met certain terms related to quality and safety. the families of the victims say the deal never should have been struck in the first place and they feel boeing hasn't held up its end of the agreement. >> we ask they don't dismiss the case, and they extend this agreement and have an outside monitor because boeing is good
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at papering over things that signify and mean nothing ultimately. >> reporter: in its earnings report boeing said in the first three months of the year it lost 355 million after a series of more recent incidents including the door plug blowout in january. boeing had to slow production as it faces heightened oversight by the faa. the company's ceo who is ending by the end of this year, dave calhoun, says we need to strengthen our quality and safety management systems and this work will position us for a stronger and more stable future. the doj has opened a separate criminal investigation into the january blowout on the alaska airlines flight. stuart: stuart: if you like the dow 30, see if that is true. the stocks that make up the dow
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stuart: eric adams, mayor of new york city has in our bed. he says crime is down, jobs are up, the city is having one of its best years ever. academy award winning actor joins me not, you're a lifelong new yorker, do you agree with the mayor's assessment of the current state of the city? >> i'm sorry, i didn't hear you. stuart: did you agree with the mayor's assessment of the city the new york is in its best shape ever? >> i don't agree with that at all. i disagree with that. i walk the streets of new york
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and ic, asking people for money. talk about quality-of-life, not just crime is down, murderers down but quality-of-life walking down the street and having people harass you constantly. i don't like that. stuart: do you feel safe in the city these days? >> i feel safe. i think the majority of people don't feel safe. when my wife was there with my children, she won't take the subway. that is for sure, won't take the subway. i know a lot of people who will not take the subway. it's the quality-of-life. not just numbers and crime but i see a person on 61st and madison go to the bathroom on the corner. i saw that. i was in my car. i watched it.
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i was in disbelief. just did it and walked away. i'm not talking about number one but number 2. stuart: got to understand these things. what do you think is the basic problem? is the migrants flooding into the city, an incompetent administration, no respect for law and order and the police? what's the basic problem? >> you got to have law and order. if you don't have law and order you have no society. people will take advantage. it happens all the time. look at the borders. people take advantage. i am for immigrants coming to this country. my family is immigrants. can we do it the right way? that's all i am asking. can we do it the right way. there are people who will take advantage. hate is hate.
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hate breeds more hate. i am for people coming into this country. i say that 100 times. all i am saying is can we do it the right way? stuart: cannot talk politics for a second? i don't know what your politics are but i see a shift in the new york area, away from the democrats because of all the problems the cities and suburbs are having. do you think it is possible? do you think it is possible that trump could win new york state in the november election? >> i don't know. i am not a republican, i'm not a democrat, i'm an independent. i like to vote for common sense. i don't know. all i want is a better life. i want a better life for the world. no matter who gets into office i am going to be fine. i am going to be okay.
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selfishly i want to be upfront with that. the world, the people in new york, new york is such a great city, to see things that are going on, we can sustain open borders, we just cannot sustain that and giving people everything and not giving a race to the nypd, the greatest police force in the world, you don't give them a raise, you don't, you have to be -- this is in the same. i go to walter reed hospital and watch them and been there to visit these people with no legs and limbs, these veterans and you deny them insurance and give migrants 6 months of free healthcare and of phone and a credit card, no, no. stuart: we understand these things, thanks for being on the show today. we would like to know how you feel and how new york is
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treating you. we will be back with more. thank you for being with us, appreciate it. i spoke too soon. time for the wednesday trivia question. it is a good one. what is the hottest temperature ever recorded on earth? 134, 139, 145, 150 ° fahrenheit? we will be back. ♪ the best advice i ever got was to invest with vanguard for my retirement. . . and made every mile worth it. hi mom. at vanguard you're more than just an investor,
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a quick look at the ingredients, and you can tell right away. this isn't sugary kid stuff. there's zero sugar, zero carbs, zero dyes. in fact, most of the five hour energy ingredients can be found in everyday foods or are already inside your body like vitamin b6, which is involved in over 100 crucial chemical reactions in our bodies and vitamin b12, which also plays many key roles in our bodies, and don't forget niacin or vitamin b3, which converts fats, proteins and carbs into usable energy. today if you buy two six packs of any flavor, you get one six pack free. you are getting 18 bottles for the price of 12, which means you get six, five hour energy shots for free. with today's deal, go to five hour energy ecom slash deal, stock up and make sure you're getting all the liquid motivation you and your family need. feeling alert, energized and focused is really the key to success.
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get in the game. 100%. mind and body. try five hour energy today. stuart: all right, what was the hottest temperature ever recorded on earth? now, when i was a youngster growing up we had the guinness book of records in my house, i studied studiously. i don't know why, but i did. back in those days i believe the hottest temperature ever was death valley, california. it was 130 degrees. bearing mind in climate change, global warming, maybe the temperature has gone up a bit. higher temperature. >> with that rationale i was going 139. i will bo 134. i would hard to find it to brief there is more for four degree increase on your guinness book research. stuart: this is 1955.
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i will go with 145 degrees. you got it right. >> thanks to you. >> 134 degrees fahrenheit. it was furnace creek, death valley, california. 1913, before the era of global warming. >> that is winter in cleveland. you have to stay inside, right? stuart: thanks very much for being on the show today. always appreciate it. >> appreciate you. stuart: one last check of tesla, which really is the hottest stock of this day i don't know whether it holds up all the way through the closing of the market. we're still up 10%. elon musk on the call yesterday said he is concentrating on cheaper cars to approach a mass market. investors like it. tesla is up 15 bucks, 10%. "coast to coast" starts now. >> coming up this hour, defund the universities, that is the message from lawmakers who want to cut federal funding to

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