tv Mornings With Maria Bartiromo FOX Business February 19, 2021 6:00am-9:00am EST
you could have encore presentation every night at 7:00 p.m. that is even better. many thanks to fox for allowing me to it put more v shaped recovery chart on the air. cheryl: good morning, i'm cheryl casone in for maria bartiromo. it's friday, february 19th, 6:0. robinhood's grilling. the ceo apologizing for the trading restrictions following the gamestop frenzy. wall street bets founder next hour on how social media is changing investing. reversing trump-era policy. the key immigration rollback taking effect. the implications with thousands of migrants said to enter the united states. texas at a breaking point. millions of americans without clean drinking water, hundreds of thousands still without power this morning. former texas governor and energy
secretary rick perry on the crisis. tech censorship, kevin is here on removal from facebook. let's take a look at futures on this friday. as you can see green arrows across the board, dow up 73, s&p up 13 in the free market. markets did finish the day lower yesterday. big-tech weakness disappointing economic data weighing on investors' sentiment yesterday. baby names setting your kids for social media fame and fortune. mornings with maria is live right now. ♪ ♪ cheryl: let's take a look at european markets this morning, pointing up, up-beat earnings from hermes boosting confidence
about the covid-19 economic recovery there. the ftse 100 is up about fraction, the cac 40 in paris more than half a percent and the dax is up 86 points. in asia overnight, stocks seeing green except for japan's nikkei down over 7 tenths of 1%. some of the top stories we are watching this morning for you on the hot seat, robinhood ceo facing questions from lawmakers on capitol hill. vlad tenev apologizing for decision to curve trading in some stocks including gamestop and extraordinary volatility. also grilled was keith gill the one anonymous trader who left individual investors on the on line alias kitty. future hearings likely going to
feature representatives from the securities and exchange commission and the financial industry regular somewhatory authority. well, day without power and freezing temperatures sparking chaos in texas. san antonio firefighters had to truck in water to battle an apartment building fire becausee devastating the building and more than 80 people are now displaced. thankfully no injuries but most of the state remains in survival mode. 13 million texans without safe drinking water and being asked to boil it before use over 197,000 homes and businesses still without power. but it is a major improvement from the over 4 million outages that were reported on tuesday. some residents even using their ford f-150 hybrid pickup truck to power their homes thanks to generator in the truck. grocery stores also running out of food with blackouts spoiling some of it and icy roads preventing are from replenishing
shelfs. trump era remain in mexico policy officially coming to an end. first wave of 25,000 asylum seekers start to cross the border today as democrats introduce their biden-backed immigration plan. the bill offers an 1-year path to citizenship to 11 million for undocumented immigrants and grants immediate green card for farm workers, tps holders and daca recipients. ice issuing new guidelines narrow enforcement actions. ice will is to get preapproval before deporting or arresting. some immigrants are getting covid vaccine on a state by state case. well, president biden gearing up for his first g7 summit lathe this morning. the global response to the pandemic, climate change and china all on the agenda during
today, biden administration to restart talks with iran and world powers over tehran nuclear program. iran set sunday deadline vowing that oil and banking sanctions are not lifted they will expel inspectors from the country ending outside to nuclear sites. well, a single shot of pfizer's covid-19 vaccine is 85% effective after just 2 weeks, potentially fueling debate over the two-dose schedules as governments try to schedule out supplies. pfizer's original trial showed 52% effectiveness from one shot but didn't differentiate before and after 2 weeks. well, robinhood takes the hill, ceo and other players in the retail trading frenzy testified in front of house services committee yesterday to discuss their roles in the market madness. >> despite the unprecedented
market conditions in january, at the ended of the day, what happened is unacceptable to us, to our customers, i'm sorry, and i apologize. please know that we are doing everything we can to make sure this won't happen again. i want to highlight one more thing, the existing 2-day period to settle trades exposes investors and the industry to unnecessary risk. there's no reason why the greatest financial system in the world cannot settle trades in realtime. >> why did robinhood restrict the buying but not the selling of gamestop? but why? >> selling does not moreover prevent customers from selling is a very difficult and painful experience where customers are unable to access their money, so we don't want to impose that type of experience on our customers unless we have no other choice. cheryl: joining me now former
e-trade ceo carl. great to have you, sir. >> good morning, thanks for having me. cheryl: joining the conversation all morning long editorial page editor james freeman is here and professor of business and economics at the king's college in manhattan and fox business contributor brian brenberg. good morning to both of you as well. i want to start here with the issue of -- of first your thoughts on what you heard on the hearing yesterday? i mean, it was about 5 hours. a lot of gowned was covered. what do you say, carl? >> so it was sort of as expected in terms of what you would see on the hill with that many questioners and some used time what i considered effectively and others used it for grand-standing or political gain. a little bit disappointed but what to be expected. they covered a lot of ground. i don't think anything came out
of it. i'm glad to see that there are a number of participants suggesting no knee-jerk reactions because oftentimes will end up harming the investor. to me is what i was expecting to see. cheryl: do you think they'll be future regulation, necessary to deal with the type of trades moving forward and a lot of regulation not coming out of this but new rules that they could agree to? >> some of the things that came across in the current models payment to go is legal and has a place in the system and providing retail investors with best trade execution that is they ever received. right now the markets are as favorable for the retail investor in terms of the manner in which they get trade executed
and a lot of that is funded in the commission trading world. so as long as you're playing by the rule as the sec layed them out as many participants said yesterday, i think they're in a pretty good place in terms of those rules. can you change them, sure, but then you're impacting business models as well, so it's going to take a lot more than a hearing on capitol hill. they will need to look at the whole system. if you flip to the other side of what was being talked about was changing the settlement procedures. i think there were good comments made by a number of the witnesses in the hearing and where they came out you really need to look at this in terms of the risk to the system in going to that block-chain led --
settlement that they would have so back-end systems can catch up with the technology applications that are available for retail traders. cheryl: the capital raise that they had to do, in particularly robinhood caught people but surprise and worrisome. i want to change views, your spac entered in the trading market, where are you looking to invest right now? >> when we put it together, what we tried to do is pull together a bunch of professionals in the space, so former operators, ceo's, individuals that have deep knowledge in financials in general. we laid out 5 separate sleeves that we are interested in spec and that's primarily reg tech, insurance tech, wealth and asset management and hr and payroll technologies. so really looking at, you know,
those platforms that can impact the way that individuals interact with their finances. whether that be insurance, whether that be trading stocks, investing, how do you sort of look at that because i think one of these apps will get it right and put all of that in a very easy to use way for a consumer to have all of the applications in one place. so that's what we are looking at. we have seen some amazing technology and it's really no surprise to me that the front-end technology has gotten so far ahead of where we are in the back end of things as we have seen the whole gamestop piece unfold. cheryl: it's been a fascinating story to follow and certainly has wall street talking about it this morning. karl roessner. thank you very much for being here. >> thank you, appreciate pit. cheryl: here is your morning mover and it's uber. the stock sliding ahead of the open after a legal setback in the united kingdom. country's top court ruling that
a group of former drivers are entitled to rights including a money male wage and other benefits. the decision sets a possible precedent for other gig economy companies as they face legal bat else over employment battle. uberdown in the premarket this morning. coming up the biden administration rolling back trump-era policies. what this means for thousands of migrants at the border. and more trouble on tap for texas, millions are without drinking water even as the power comes back in some areas. former texas governor rick perry will talk about the fallout from the deep freeze. plus fighting big-tech censorship kevin speaking out after page was removed by facebook. don't miss a moment of it. you're watching mornings with maria live on fox business.
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i was born ready. go get'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement. cheryl: democrats revealing immigration plan backed by biden administration, 8-year path to citizenship for nearly 11 million undocumented immigrants, the administration issuing new guidelines for u.s. immigration and customs enforcement directing them to prioritize arrests and removal of migrants that pose a security threat. this as thousands of migrants are set to cross into the u.s., wait processing as the trump-era remain in mexico policy officially ends today. i want to bring in the hill reporter alex and alex, great to have you here this morning. i first want to get your thoughts on the timing of all of this. critics are saying that they understand that the president wanted to make sure that immigration was in his first one hundred days, part of his agenda, but at the same time we are still dealing with the
pandemic and you have the situation in texas. >> yeah, it's a great question of how the timing of this all plays into biden's larger plan. you mentioned coronavirus relief. that still hasn't, you know, passed congress and it could be another month until it does get through the negotiation process in the senate. of course, the situation down in texas and must be a huge focus of the white house. he wants to also have an infrastructure plan come through and so the immigration plan, it's just another thing that he will throw at congress here to have them negotiate through this bill that he's laid out for them and that could take, you know, many months for them to actually be able to start to tackle this let alone -- cheryl: i think her shot just froze. alex, we will try to get you back. i'm not sure that you can hear me. james freeman, jump into this. i wanted to get your reaction to this. it's moving fast and critics are saying that really this is just not the right time during the
pandemic to push -- push so hard on immigration. james: i guess i would say this is a great time because i think we actually don't need that big so-called stimulus bill. i think december spending is still surging into the economy and medical facts on covid are really good so i would prefer that the president would focus more on this issue and i -- i was going to raise with alex, i think a big question was obviously very frustrating during the trump era where there was sort of an obvious deal that never happened where the democratic leadership in the congress would give president trump the wall funding he wanted and -- and in return get lots of new pathways to legal migration, expanding guest worker seasonal worker programs. there was really a wonderful deal to be had there if the
politicians on the hill actually wanted to address the problem and now there's no longer obviously president trump and the wall issue and i would hope that would -- that would lead to especially with this outstanding labor market we continue to have 6.6 million job openings in the latest report and i would hope that there would be political flexibility to allow people who are ready to come here and make a contribution and can really add to u.s. economy and society to come. cheryl: alex. alex: yeah, political flexibility is definitely what biden is looking for here. the administration has said that they are open to allowing congress to work through the bill. the problem is that pelosi has to, you know, work with her 5-vote margin and the senate has to get up to 60 votes unless they can try to pass this through reconciliation again or figure out what else they can do
here and so i think deal-making is the path forward here considering like you said, it's been years until congress -- since congress has been able to do something on immigration and so obviously this needs to pass in some sort of bipartisan way for them to actually get it over these tight margins and get it over the threshold again. cheryl: alex gangitano, thank you for being here. appreciate it. >> thanks. cheryl: getting the economy back to full stream, secretary janet yellen pushing for major stimulus package. we are going to talk about that coming up next. plus born for influencer fame, the best baby names if you want to cash in on social media success. i hope you're listening, that's making a buzz this morning.
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cheryl: stimulating the economy. treasury secretary janet yellen pushing for largest stimulus package. quote, the price of doing something too little is the price of doing something too big. increases by the biden administration will not be implemented later this year after covid-19 has passed. brian, what do you think about her comments, potentially another stimulus package? brian: it sounds to me she's speaking out of both sides of her mouth a little bit. a lot of pain in the economy, we have to go big, the risk is going too small, okay, on the other hand, we are talking about tax increases, you know, not years ahead but in the second
half of this year. tell me if the economy is struggling that badly to get out of this, do we really want to slap new taxes on businesses and investors at this point in the year. so i'd like her to clarify that position a little bit. if we need to dig out, fine, let's talk about stimulus. i think there's a great debate to be had here and how much more we need but don't tell us about stimulus and go right to tax increases in the very same sentence. >> yeah, mixed message that the street has to kind of figure out and digest which is difficult. brien: exactly. cheryl: james freeman, i wanted to get your take on this as well. brian and i were talking in the break about her resume. she really has the experience, if you will, but she's also talking about again another package that really the 900 billion from december, we haven't spent that yet. james: based on the resume she ought to know better, right? the federal reserve you where she use today serve as the chair just reporting this week that
the united states hit the fourth straight month of rising industrial production. obviously retail sales numbers were great in january. we've been talking about the job market. there's plentiful opportunities, unemployment rate has plunged from over 14% during the last spring shutdowns to little above 6%. obviously we have gotten most of the jobs, not all of them and some weak unemployment claims this week but generally it is happening and continuing and the covid news is all good, hospitalizations and new cases peaking about 2 weeks before inauguration day. it's been roughly straight down since then. so this -- this question of why she and the president think this economy is in need of some massive shock therapy is just kind of beyond belief. it's a huge disconnect between
the numbers the government is reporting and how the leaders of our government are talking about the economy. cheryl: it's true. well, we will have a lot more coming up. we will be talking more about the pandemic and in particular searching for the origin of covid-19. the world health organization revealing what could have spread the virus to humans. plus touchdown nasa, perseverance successfully ending on mars. your daily dashboard from fidelity -- a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity. sfx: [sounds of everyday life events,
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look at futures, s&p is up 9 and a quarter. markets finishing the day lower yesterday, big-tech weakness and disappointing economic data weighing on investors. taking a look at the global action out there. mixed moves right now in europe. earnings from fashion house hermes that's boosting confidence for the covid-19 recovery. all going into the red. it's flat this morning. cac 40 is higher by half percent. the dax is up about half percent. in asia overnight. stocks seeing green except for japan's nikkei down over 7 tenths of 1%. now top stories we are following for you this morning, the world health organization closing in on the origin of the coronavirus. they believe ferrit badgers could have helped with spread to humans. chosest known relatives of the
virus have been bound in bats. and check this out. this was gate, first photos from nasa perseverance after landing on mars. fifth rover touching yesterday. nasa celebrating the major accomplishment. per certify convenience will remain on mars for nearly 2 years searching for any sign of life. bitcoin with record-breaking number at 1 trillion. according to report it is largest tone has $415 billion of value in 2021 to about 956 billion. the rally stoked 100% jump. there's bitcoin right now. 52,700 and change. marine law enforcement foundation is behind it.
a group that rush limbaugh donated to for years. also resolution commending for, quote, his devotion to the country. the 70-year-old conservative icon died wednesday following a long battle with lung cancer. well, switching gears, the feature of medical research, gene sequencing company reporting better than expected fourth quarter results last week sending the stocks surging amid coronavirus pandemic and joining me now ceo and president francis desouza. good morning. >> thank you for having me. cheryl: during the pandemic, we have learned so much ant genomics and gene sequences and
to never find ourselves in this situation again. what has last year taught you? >> one of the things is that we were very unprepared for the pandemic in a number of ways. it took too long to identify that there was an outbreak happening and one of the aha moments was that we had the virus circulating in the u.s. for weeks and maybe months and we didn't even know. so a lot of realizations around how we can react better next time including the need for this surveillance network that says, look, just like we have an air force to watch what's happening in the skies or space force, we need a global surveillance network that will help identify outbreak even earlier than today. our team illumina was in wuhan trying to identify the source of the pneumonia of unknown origin and then, you know, we were involved in sequencing the first
genome and we also realized once we identified tracking, that has important implications in policy decisions, in a community that you see only infections are coming from the outside, well, you make policy decisions like restrict in travel coming in. we also need to watch how the virus is mutating. that's been another big lesson for us. the reason you need to do that because watching how it's mutating tells you that the tool to fight the pandemic, testing tools, vaccine, therapies, whether those will continue to work. we have learned that it's not only good enough to know that there's a pathogen or have a test that tells you your patients have it or not, but you need the surveillance network to identify the first case much more quickly and watch how it's spreading and mutating. that's some of the lessons coming out last year. cheryl: what are your thoughts about the vaccine rollout? >> first of all, i will say it's
a truly remarkable and scientific medical accomplishment that we are able to get to vaccines about a year after we identified the pathogen. we've never had vaccine of coronavirus. typically it's a 10 to 15 year endeavor and of course, the priority is to get vaccines rolled out as quickly as possible. different countries have different levels in terms of how they are rolling them out. cheryl: how you have you handled dealing with the company in the pandemic? is there a connection there? >> absolutely. so one of the things that we realized early was that this
outbreak was starting to grow because we had sort of an early view of it as it was spreading in china in january. and so the company start today think about well, he would we run the company and even before the shelter in place restrictions had come in, we laid out how we would work in case we need today shut down and so we are deeped a necessity in -- deemed a necessity in the pandemic and the machines we use are used to fight the pandemic but also other essential services. hospitals use our machines to match cancer patients with the best therapies for them, expecting mothers use our technology and noninvasive prenatal testing to gauge the health of their babies and people that get the disease, testing. we had to reconfigure our offices to make sure people are socially distanced and we have
the filtration systems in the air. we had to retool how we work but a third of our employees are coming into the office and about two-thirds are working from home. so we've been able to continue to function and, you know, outstanding work from our employees to continue to function. from a business perspective what we saw was that q2 last year was the most impacted in terms of renew by the pandemic because a lot of our customers, the researchers, you know, the hospitals were undergoing their own shelter in place restrictions but we saw rebound in the second half of the year. revenues in the second half of the year grew 17% compared to the first half. that was part of the investor excitement where we talked about q4 being a really strong quarter. it was a record record for illumina in revenue and record in orders coming in and was the highest quarter ever in terms of
instruments that we sell and second highest quarter ever of instruments and on the earnings call last week, i ails raised, you know, our forecast for q1 because in the last few weeks we have seen really strong activity coming into this year too. cheryl: certainly it's a fascinating space. it's a needed space. it's critical to frankly the future of the country and all the diseases that you're trying to treat. francis desouza thank you very much for getting up early, appreciate it. >> thank you. cheryl: coming up fighting big-tech censorship, dr. kevin speaking out of his page removed by facebook. he's going join us next. plus tim allen and richard reuniting on the small screen. new reality show bringing the home improvement stars back together. that's making a buzz this morning. you're watching mornings with maria live on fox business.
♪ ♪ ♪ >> next week on mornings with maria, biden promising path to citizenship for 11 million illegal immigrants. former attorney general alberto gonzález react. tuesday iran already ramping up nuclear program, general jack keane on how the u.s. should be responding. wednesday democrats pushing forward with 15-dollar minimum wage. karl rove on how that would play at the ballot box. thursday a thousand dollars and smartphone will get your portfolio serious attention. and friday wrap up your week with word on wall street, where to allocate your capital right now. it's all right here.
cheryl: social media censorship in focus, actor claiming that facebook has taken down its page without warning. we removed kevin's page for repeatedly sharing debunked claims about the coronavirus or vaccines. well, joining me now is actor kevin sorbo, kevin, good morning. >> good morning, how are y'all doing there? cheryl: good to see you. your reaction from the statement from facebook? >> they've been shadow-banning me for a year now. i have over 500,000 followers and only allowed me to see 10,000 and every time they've come back to me and say, hey, we
have to get rid of this because we think this is their version of fake news. i take it down. even though i could argue with that, but, you know, i don't want to lose my page but this time around they took me down. there was no warnings or anything like that. i've been more than happy to take down whatever offensive post that facebook deemed that i should not be posting, so i -- i question their statements saying that they gave me some warning. cheryl: no, no, cancel culture is alive and well. brian brenberg hop into this. brian: you talk about -- facebook talks about removing things because they are debunked. a lot of people look at the debunking and fact-checking and say it's really not fact-checking at all. it's somebody's opinion or the opinion of the prevailing majority. when this happens, does anybody bother to tell you why exactly things are being taken down, explain to you what it is that you've missed that's been
definitively proven to be false? >> this does not immediate our guidelines and we are taking it down. would you please take it down otherwise we -- you are going to lose your account with them. i post things that usually come from what doctors are saying about the virus or i set postings on what other people are saying about the voter fraud. if that doesn't fit their narrative, they just get rid of you. freedom speech has obviously gone out the window and it's insanity what we are going through right now. i think it's sad. i would love facebook to put me back on and give me all my followers and move to parler, they can follow me there. don't takeaway the followers that were following me because the majority of them obviously liked what i was saying and like what had my movies and tv shows and always the few people that -- they love to control you. i always get a kick out of people that post the hate about me. if you hate me, why do you follow me? it cracks me. it doesn't bother me in the
least. cheryl: i was going to ask you about other social media forms. you mentioned parler. >> i think parler is a good place to go and there's another one called clouthub. they put an amazing app there and social media form to follow. i'm jumping on board with those guys right now. cheryl: cancel culture, it's coming for everyone, goya ceo, chris harrison with the bachelor show. how do you combat the power of the online mobs that have who is going to be next? >> i wish i had the answer to that. i find it amazing that a place like facebook has more power than the government apparently and the government allows them to do what they are doing right now in terms of canceling people that they don't agree with and their own politics or whatever it may be, not religious, whatever it is. you know, being a christian and conservative in hollywood is
like being a double leopard. i will give a quick plug before the wrath. cheryl: i want to bring in james freeman. james, you and maria have talked about this topic as well. james: yeah, thanks, kevin, i'm glad that you brought that up. i was going to ask what kind of career penalty there is in hollywood for having these unconventional by hollywood standard views. is there people that say i like to work with you but can't, what's the feedback? >> yeah, that's happened. my manager both behind closed doors say we can't do it anymore because of the things that you say. i'm going, wow, isn't this the industry that screams for tolerance and apparently it's a one-way street. i love the industry, i don't harbor all the hate and anger
that the left harbors against people that are on the right. i don't get it. it's just sad how much divide that's been going on in the country over the last 10 or 12 years. that makes mesad. to me is why can't we have a debate without anger and hate and violence coming into it. you have your point of view. i have my point of view and move on. cheryl: you've been victimized by facebook for sure. kevin sorbo, thank you very much. i want to plug in the new documentary against the tide. go to against the tide movie for more info. kevin good to see you. >> that just came out this month. wonderful documentary. cheryl:ly definitely check it out. kevin, thank you so much. well, coming up next, born for influencer fame. the best baby names if you want to cash in on social media success. that's making a buzz this morning. we will tell you all about it.
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for those that do, it seems to be an issue. but you do need to remember that the popular -- what seemed to be appealing names of one time might -- might not be so later. times change, fractions change. in hindsight probably i should not have named all my children after weird yankovic. cheryl: you want to go by jamie instead of james. james: sounds like it would move me up in the ranks and keep from being canceled on twitter, i will do it. brian: i love the number 5 name on this list was wayne. that was my grandpa's name. he's getting his revenge here. social media influencer name, wayne. cheryl: wished my name was hannah or chloe.
tim alan and richard reuniting for show, their new show focus on judging contestants fixing household items. these guys are both on their 60's, they never aged. look at them. brien: it's like watching the show back in the 90's which i loved, i loved home improvement. i loved the dynamic they had on screen. apparently they weren't great friends when they started but they became friends over time and the writers leaned into that and figured out how to do. i feel like me and james are james allen and al. what do you think about that? james: i'm not a do it yourself person. i would like to help, maybe the show can help. i don't know if it was
upbringing or heridity. i'm missing those skills. cheryl: still ahead one of wall street insiders celebrating major mile seen. what he did on the word on wall street all start next hour on mornings with maria live on fox business. ♪ ♪ ♪ ose twins. change in plans. at fidelity, a change in plans is always part of the plan. . . . the rx crafted by lexus. lease the 2021 rx 350 for $429 a month
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some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) cheryl: good morning. i'm cheryl casone, in for maria bartiromo today and it is friday, february 19th. top stories at 7:00 a.m. eastern time. robinhood's capitol hill grilling, the ceo apologizing for the trading restrictions following the gamestop frenzy. wall street bets founder later this hour on how social media is changing investing. reversing trump era policies, a
key immigration rollback taking effect today, the implications for thousands of migrants set to enter the united states. congressman mark green is ahead. texas at a breaking point, hundreds of thousands are still without power. former energy secretary and texas governor rick perry in the next hour. taking a look at futures on this friday, we've actually got some decent gains this morning ahead of the opening bell, the dow up 33, nasdaq up 15 and a quarter, s&p up 8 and-a-half. markets finishing the day lower yesterday actually. big tech weakness and disappointing economic data weighing on investors. and straight ahead in the word on wall street, one of our of market insiders celebrating a major milestone. you don't want to miss it. really excited for him. and the next step in space exploration, the eye popping photos from the mars landing is making a buzz this morning. "mornings with maria" is live right now.
taking a look at global action, european markets as you can see, the ftse is now slightly red. it was in the green earlier. cac in paris is higher and dax is up almost half a percent. earnings from fashion house hermes is boosting confidence about the covid-19 economic recovery. now to asian markets, stocks seeing green except for the nikkei down just over 7/10 of 1%. and some of the top stories we're watching this morning. on the hot seat, robinhood ceo yesterday facing questions from lawmakers on capitol hill. he apologized for his company's january 29th decision to temporarily curb trading of stocks including gamestop amid volatility. also grilled was keith gil, the once anonymous trader who led the individual investors under the online alias roaring kitty. >> i'm not a cat. i'm not an intuesdayal investor -- institutional investor, i'm
just an individual whose investment in gamestop and posts on social media were based on my research and analysis. >> look, i'm sorry for what happened. i apologize. robinhood as an organization will learn from this and improve to make sure it doesn't happen again. cheryl: well, the hearing is the first of three according to house financial services committee chairwoman maxine waters. future hearings likely will feature representatives from the securities and exchange commission and the financial industry regulatory authority. well, days without power and freezing temperatures sparking chaos in texas. san antonio firefighters had to truck in water because hydrants were frozen, the fire devastated a building and more than 80 people are displaced. thankfully there are no injuries. much of the state remains in survival mode. 13 million texans without safe drinking water. over 197,000 homes and businesses still without power
but it's a major improvement from the over 4 million outages reported tuesday. some residents even using their ford f-150 hybrid pickup trucks to power their homes thanks to the generator in the vehicle. grocery stores running out of food with blackout spoiling some of it and icy roads preventing trucks from replenishing trucks. the trump era remain in mexico policy coming to an end as 25,000 asylum seekers start crossing the border today. the bill offers an eight year path to citizenship for 11 million undocumented immigrants and also grants immediate green card for farm workers, pps holders and daca recipients. i.c.e. is narrowing enforcement actions like arrests and removals. officers will have to get preapproval from supervisors before arresting or deporting anyone who is not convicted of an aggravated felony. as for the currently detained,
some immigrants are getting covid vaccines on state by state cases. president biden gearing up for his first g-7 summit later this morning, the global he responseo the pandemic, climate change ann the agenda. they may end outside access to nuclear sites. well, a single shot of pfizer's covid-19 vaccine is 85% effective after just two weeks, potentially fueling a debate over the recommended two dose schedule as governments try to stretch out limited supplies, the findings part of a health study of healthcare workers at an israeli hospital. the trial showed 52% effectiveness after one shot but didn't differentiate between before and after two weeks.
well, time for the word on wall street, top investors watching your money this week. joining me now, rose cliff capitol ceo and managing partner, mike murphy and chief economist, lindsey piezga. lindsey, i want to kick it off with you, taking a look at futures this morning. we have some green arrows. there's certainly concerns about the economy. but you've got treasury secretary janet yellen speaking out yesterday, she said basically a large stimulus package is necessary to get the economy to full strength. and there was new data that showed the number of americans filing claims yesterday rose to 861,000, that number hotter than expected. that contrasts with strong january retail sales numbers from earlier this week. we've had a lot to digest this week. your thoughts? >> absolutely. i think broadly speaking the u.s. economy has made considerable steps in the right direction. we saw job creation in positive territory in january, manufacturing expanding, robust
metrics when it comes to housing and the latest retail sales report surging past expectations, up over 5%. that being said, we also saw that significant jump higher in jobless claims with millions of americans out of work, millions more reliant on federal unemployment assistance. so we're far from out of the woods. now many look at this lingering weakness including treasury secretary yellen as just at justification for further government spending. with trillions already spent, not to mention billions waiting to be allocated from the previous stimulus package, we need to be focused on a longer term reopening plan as opposed to ways to supplement short-term growth which i do fear will potentially create insurmountable barriers in terms of deficits and debt as we do you attempt to reach a more organic pathway at the end of the crisis. cheryl: and in past months
we've seen wall street cheer on more stimulus now there's question marks about too much basically and the debt we're taking on as a country. i want to talk about gamestop with both of you. lawmakers on the house financial services committee grilled top executives of robinhood and other players in the short squeeze saga. vlad tenev apologized to customers. keith gil was in the hot seat, he was the once anonymous trader, he led them under the name roaring kitty. your reaction. >> i thought it was interesting. a lot of times when we have these hearings, whether it's the head of banks or roger clemmens, a lot of times it's fluff. a lot of this is old also
grandstanding. in the internet age trading and how people get information is changing. that's one thing that will come from this. to see vlad come out and offer an apology, that's just crisis management there. i thought ken griffith's comments were interesting. at the end of the day, i think the market is going to move past this, that type of trading worked for some, the gamestop trading worked for some. it didn't work for others. i think ultimately people are going to be active in the market. they're going to be sharing information online. and regulators are going to have to figure out the best way to regulate that so that no securities laws are broken. cheryl: lindsey, that's the question mark for everyone, are we going to get more regulations or even just rules out of this committee, some new rules. >> well, certainly not out of the committee but the sec could step in. of course, i think this is going to, as just noted, really reflect the ongoing pressure on representatives to continue to put pressure on different
agencies in the government to make sure that there is more regulation, more oversight in these types of issues and we don't see this happen again. so i do think there's more of an appetite for oversight but it won't come necessarily from this commit at this but -- committee but more the regulatory bodies. cheryl: the sec is going to be -- waters is going to be calling them to task as well. mike, want to switch gears. i love this. you rang the closing bell remotely yesterday you celebrated rose cliff capital going public. tell us about it. looks great. >> thanks, cheryl. really exciting. you've been with me almost from the beginning and there with maria. as we started investing in some great private companies, companies like wheels up that just went public a couple weeks ago, casper, all birds, who came on the show with maria when they were nothing, now they're a multi billion dollar business so as we were investing in price companies we saw an opportunity
with what's happening in the spac market to create a vehicle to take it public and now we're going to merge with one of these high growth companies and bring it to the public markets. we're really excited to do it. i have a great teamworking with me to do this and as i told maria, stand by, because when the news breaks we're going to be here live doing this again and we're going to bring a great private company into the public markets and look to create a high growth, long-term business that hopefully can have a major impact on investors. cheryl: now i've got to ask you which one, mike. tell me. >> yeah. so we don't have a -- no comment is my answer. we don't have the signed letter of intent yet but we have a very short list of businesses that i think any one of them would be great. so this is something that with the market where it is right now we want to do this and do it right the first time and then hopefully look to do it again because there are so many great private businesses out there as we talk about all the time.
cheryl: mike, you know that you have to come back on the show and break the news with maria. >> absolutely. cheryl: mike murphy, congratulations, mike. that was great. lindsey, always great to see you as well. we've got a lot more coming up. things getting worse for new york governor andrew cuomo as people from both sides of the aisle are siding against him. they want answers for the nursing home covid coverup. we'll talk to one new york state senator coming up. the deep freeze, texas remains in survival mode as thousands remain without power or water. how the brutal cold stands to affect the energy sector. guild on the hill, we have a recap of the gamestop hearing, we'll talk about it with wall street bets founder later on this hour. plus, hello mars. the perseverance touching down on the red planet. the world's reaction making a buzz this morning. we'll tell you all about it. joining the conversation all morning long, we've got the a team, james freeman and brian
i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis. and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid.
(naj) at fisher investments, we do things differently and other money managers don't understand why. ask your healthcare provider (money manager) because our way works great for us! (naj) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios? (naj) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right? (naj) we don't have those. (money manager) so what's in it for you? (naj) our fees are structured so we do better when you do better. at fisher investments we're clearly different. cheryl: democrats introducing the biden backed immigration plan yesterday, the bill includes an 8 year path to citizenship for over 11 million undocumented immigrants and grants green cards for farm workers, tps holders and daca recipients. today, thousands of asylum seekers will cross the border and the remain in mexico policy ends. i want to bring in tennessee congressman and house foreign
affairs member, mark green. congressman, good morning. >> thanks, cheryl, for having plea on the show. good morning to you. cheryl: your reaction to this move on immigration from president biden? >> i think it's pretty crazy. it's going to create this massive incentive for just a flood of people coming you across the southern border. right now, they're not even testing people, just releasing them for covid, so it's pretty crazy. but even what they did with i.c.e., you didn't mention that, but they're talking about now restricting i.c.e. agents. pelosi's defunding and i guess now biden is going to de-fang the police, the law enforcement. they can't even deport people unless they get special permission, for people who committed multiple crimes. it's pretty crazy what the administration is doing. cheryl: i want to bring in my colleague, james freeman. he and maria bartiromo wrote a book about the topic of china. you have president biden at the g-7 virtually today. james: that's right.
thanks, congressman. as you look at the emerging china policy from the biden administration, some perhaps sur surprisingly tough rhetoric in terms of related to chinese government's treatment of the uyghurs, hong kong, et cetera. are you encouraged by that or of are you still concerned there's not really any action behind it? >> i think they've been a little bit inconsistent. so there has been some rhetoric about the human rights stuff but then you hear him say that it's a custom -- you know, some kind of cultural norm to do what xi jinping is doing out west. it's just crazy, that inconsistency makes all of us scratch our heads. i think we need a very hard stance with how china is -- i mean, if you read some of the stories coming out of those camps, those internment camps, it's horrific, it's almost mid-20th century stuff.
we can't support that. cheryl: u.s. officials by the way announcing they're going to meet with iran and other world leaders to discuss the diplomatic approach to tehran's nuclear program. i want to get your thoughts on that. iran vowed to expel u.n. nuclear inspectors if sanctions are not lifted by sunday. your reaction to this? >> this is what we should expect from this president. when he was vice president, remember they announced -- they actually announced they were with drawing missile defense systems from poland on the 60th anniversary of the ussr's invasion of poland. now only days after americans are killed by iranian-backed militia, they're talking about meeting with iran. i mean, that's insane. it makes no sense. no one -- no one would do this. no student of international relations would say, yeah, hey,
let's meet with the guys who just killed americans. cheryl: brian brenberg? brian: i want to emphasize that point. when i watched what happened this week and then i see these plans, it looks to me like iran is in the driver's seat on this negotiation. given all of the threats they've made, that's what it looks like. am i wrong on that? is iran now in the driver's seat, given the kind of policy that biden administration is talking about pursuing? >> it certainly appears though. if you look at the jcpoa, that whole thing really enforced nothing. iran could inspect themselves and they're talking about reinstating something like that. it's absurd. i mean, it's really absurd. you think of the american -- i served in the military, i was in a special operations unit. i deployed in iraq, in afghanistan. my brothers and sisters were killed in iraq by iranian-backed specialized ieds. as many as 700. and here we are wanting a
handshake. i have a problem with that. cheryl: congressman mark green, it's great to have you on all these topics this morning. we appreciate it. >> have a good day. cheryl: you as well. we've got a lot more coming up. caught on camera, new video shows members of the california school board appearing to mock parents who are desperate to get their kids in the classroom. we have the video coming up next. plus stream on, all this staying at home is problemming to be a boone -- proving to be a boom for the streaming sector. we're on it coming up. ♪ you've got me wrapped around your finger. ♪ do you have to let it linger. ♪ do you have to, do you have, do you have to let it linger. ♪ exciting stunts. so to help you remember that liberty mutual customizes your home insurance, here's something you shouldn't try at home... look, liberty mutual customizes home insurance so we only pay for what we need. it's pretty cool. that is cool!
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parents and teachers reaching a new level. california's school board members caught on video mocking students' parents not realizing the meeting had been open to the public. listen. >> if you're going to call me out, i'm going to [bleep] you up. [laughter] >> sorry, that's just me. >> they want to pick on us because they want their babysitters back go we have the meeting open to the public right now. >> nuh uh. >> that's what laurie just said. cheryl: uh huh. the superintendent had to apologize for the comments, saying in a statement, these comments aren't typical and more importantly they aren't what the the community should expect from the school district. i know we lost trust with the community. i won't make excuses. i'm the superintendent, i'm accountable and responsible. i'm truly sorry for what took place. i have been and continue to be committed to work together for the betterment of the school
district. brian, what do you make of this. brian: are those comments not typical? that's what the superintendent says. but these are the board members. thinking they're behind closed doors, talking about how they really feel about the parents in their district. i think a lot of parents actually look at this and say you know, that's what i thought you thought because that's how you're treating me. big problems here in pig institutions when -- big institutions when the curtain gets pulled back and the people get to see what the public servants think about them. i think it's important because people need to know what we're in for when it comes to things like these schools in california. students are not being prioritized. they're not being served. and parents are held in contempt. cheryl: james, it's happening all across the country. we've seen it in chicago, we've seen it here in new york. i mean, it's gotten to a fever pitch this issue of reopening the schools which president biden maintains he wants to do. but the battle is just -- it's just gotten really -- well, it's ugly. james: yeah. and it's a horrible disservice
to children. one thing that makes this video so disturbing, so appalling, this meeting is that the school boards are supposed to be the ones standing up for parents and children. you can count on the teachers union leadership to put their members first and obviously they've been driving this message that was repeated, has been repeated over and over again but president biden that you can't reopen schools until you make huge new investments in equipment, make smaller class sizes, make more room on the bus between children and it's -- it doesn't make any sense. it's not science-based. children are at little risk. most of the teachers are at little risk. they should be reopened. but to see the school board which you would hope would be pushing back on some of this union nonsense, basically agreeing that this horrendous
closure policy should continue is really disappointing. cheryl: brian, it does show you the power of teachers unions. brian: it shows you the power of teachers unions, but it also shows you how messed up the incentives in this system are. the incentive is not -- parents aren't looking for babysitters. they're not. they're looking for people to educate their kids and they're paying a lot of money for that to happen, especially in california. treat parents with respect. treat kids like they matter. do your job. don't sit there and mock people who are crying out for public servants to serve the public. cheryl: meanwhile, kids are suffering. guys, thank you to both of you. well, coming up, grilled on the hill, we've got a recap of the gamestop hearing. we're going to talk about it with wall street bets founder jaime rogozinski. that's coming up next. plus, popping the question in a big way, the new give-away promising couples their dream proposal. it's making a buzz this morning. we're going to tell you all about it. ♪ i've been changing channels. ♪ i don't see them on the tv
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cheryl: welcome back. i'm cheryl casone, i'm in for maria bartiromo. i'm is friday, february 19th. a look at markets this half hour. we have got green arrows today as you can see. the dow higher by a little more than 100 points this morning, nasdaq up 74 and three quarters, s&p up 16 and three quarters. markets finishing the day lower yesterday, big tech weakness and disappointing economic data weighing on investors, the dow losing 119 points. take a look at global action, to the european markets, we're seeing green for the ftse. we've been going back and forth in london. cac 40 of, that market is up almost three quarters of a percent. the dax in germany up more than half a percent. earnings from fashion house hermes is boosting confidence about the covid-19 economic recovery there. in asia overnight, stocks seeing
green except for the nikkei, down over of 7/10 of 1%. now to top stories we're following this morning. bob dole says he has been diagnosed with stage four lung cancer. the 97-year-old says he will begin treatment next week. dole served as a u.s. senator for nearly 30 years and was a republican presidential nominee in 1996. this morning, ford is recalling more than 150,000 vehicles, this is the first recall impacting about 1600 of its new 2021 bronco sport vehicles. the company says there were suspension modules may not be properly attached. the company also recalling about 153,000 ford rangers due to issues with the air bag systems and the last recall is much smaller, the last recall, excuse me, is much smaller but affects vehicles across product lines including the ranger, mustang, fusion, edge, and other vehicles. all of these are part of last year's air bag recall. let's take a look at the stock
if we can. this is ford in the premarket, stock is actually higher by a quarter percent. roku seeing a revenue surge, the streaming service saw 58% increase during the holiday quarter, it controls at least 30% of the streaming market. the total profit rose to $649.9 million in the fourth quarter, up from $411.2 million a year earlier. streaming services have seen an increase due to more people staying at home due to the pandemic. walmart is giving raises to 425,000 employees, this following strong holiday sales during the pandemic. walmart's ceo said wages would increase for store associates in the digital and stocking work groups. wages will range from 13 to $19 per hour depending on location and market. there is walmart. the stock was a drag on the dow yesterday. it's bouncing back a little bit this morning, up about a half a percent. well, probing wall street bets, reddit ceo and co-founder steve
huffman answered questions surrounding the reddit role in the retail trading frenzy during yesterday's house financial services committee hearing. >> i will stress that wall street bets was first and foremost a real community. the memes, the language ought reflect this. with the increase in attention, wall street bets faced a surge in traffic and new users. our first duty in these situations is to our of communities and the role was to keep wall street bets online. we have analyzed activity to determine whether bots, foreign agents or other bad actors played a significant role. they have not. cheryl: joining me now, wall street bets founder, jaime rogozinski. jaime, good morning. >> good morning, thanks for having me. cheryl: i'm so glad you're here. what was your reaction to the testimony yesterday? >> well, you know, i watched it on and off throughout the day. these testimonies sometimes remind me of a few good men with the congressman asking, yes or
no, did you order code red. but you know, all around i felt it was a well-rounded panel, a lot of great questions were asked and a lot of interesting and insightful answers were given as well. cheryl: do you think there's going to be regulation coming and do you think the industry needs regulation? one of the things in particular the robinhood has been the emergence of the younger investor. a lot of times the younger investors don't know the risk associated with being in a market like this. >> yeah. well, when it comes to regulation, i'm hoping there's not a lot of regulation with the way that wall street functions because there's a lot of unintended consequence as was highlighted yesterday. but this entire gamestop saga has highlighted a bunch of weaknesses in the system, systemic problems now that retail traders are such a big force. i hope they're able to address some of that to make sure there's protections in place for the retail traders. >> when you got on this, when you started wall street bets, my understanding is you had some
disposable income, you wanted to look at some riskier investments, you wanted to learn, you wanted to collaborate. it was a learning venture for you in a lot of cases. it's the same thing for people today who are getting into the market who have a little bit of disposable income who are young. my concern is the crackdown here doesn't happen in the part of the market where it needs to happen. you know, perhaps at the level of how trades are settled. but it's going to happen in a way that actually keeps younger investors from getting involved in learning. do you see that risk and does it concern you? >> it doesn't concern me because now that retail traders have had a taste of what it's like to control their own finances, and granted a lot of people take this risky approach to it but a lot of people don't. that's the thing about the market. you can still be a warren buffet and you can diversify and buy and hold and wait for dividends or make shorter term play as well. now that the retail traders have gotten a taste for it it's going to be really difficult to put the cat back on that -- cap back
on that bottle, especially now that there's such a huge, huge collective number of them. cheryl: do you think this is going to change retail investing? i mean, with wall street bets? now there's a lot of focus on these groups, these platforms. so what do you think happens? do you think it actually hurts retail investing? >> no. you know, i think that retail investors carved out a niche in the market. they're not mutually exclusive. you can have the serious investors that take fundamental approach for evaluating stocks and try to figure out book value based off of whatever metrics they're able to use but retail investors carved out their own way of using the market, the quote, unquote meme stocks. they've made it work. a lot of people have been able to make money, even since before gamestop. companies like hertz or companies like zoom, they've been able to create a whole new approach for it and it works for a lot of people. cheryl: james freeman, jump in here. james: thanks.
i'm wondering sort of the -- we talk about these young investors and you obviously know this community very well, jaime. i'm trying to get a sense of for those people who have gotten into the market here, got gamestop now, i think it's about 88% off its high. is this a valuable lesson, losing their first 500 bucks and they can go forward and do better? or do you think a lot of these people have sort of thrown away the life savings or the rent money? >> you know, i'm hoping that it's closer to the first example of it. i mean, there's so many people that were involved. it's very possible that you have some people that took a risk with money that they weren't or shouldn't have been able to use but it's a valuable lesson. everybody loses money in the stock market at some point in time and as far as i'm concerned it's much better when you're starting in the market to be humbled by it by taking a loss and realizing that actually you're feeling that risk that you assume is there when you go into it. i think it's a lot more
dangerous when people make money in the beginning. cheryl: what's worry s&p for me when -- worrisome for me, it does resemble gambling. it's on the phone. you get obsessive about it. that led to serious financial losses. >> yeah, i mean, it's always been gambling, even since before robinhood, right. it's speculative market. you make some assumptions based off of what you think. you have your criteria. investors no matter how great they've been, no matter how conservative, they've all taken a hit at some point. the concept of speculation has always been there. the fact that they're using language that resembles gambling is just calling it what it is. the unapologetic approach to something that people have been doing forever. >> the story has been full of caricatures jaime and one of them is the retail investor is dumb money. are you concerned about that? does that need to change?
because the world of investing has changed and retail investors are going to play a bigger role. we've got to stop caricaturing them. love to hear your thoughts on that. >> they need to rethink their approach to it. right. let's go before gamestop, when the pandemic first started a lot of retail investors flocked to zoom, assuming everyone was locked in. they bought the wrong zoom. the quote, unquote smart money is laughing at the dumb money. the wrong zoom went up higher than the actual zoom did and these retail traders, they're going in and out. they're not waiting for dividends. they made more money than the quote, unquote, smart money. same went with hertz. it's a bankrupt company that took the share from $2 to $5. there got out. they're not going to wait forever. if the name of the game is making money, who is the dumb one? cheryl: we'll leave it there. great answer. jaime, thank you very much for being here this morning.
>> thank you for having me. cheryl: jaime rogozinski. well, coming up, things getting worse for new york governor andrew cuomo as people from both sides of the aisle are siding against him, wanting answers for the nursing home covid coverup. we'll talk to one new york state senator coming up next. and in the next hour, larry kudlow is here to talk about his new show and give his reaction to yesterday's gamestop hearing and a lot of other questions. plus, hello, mars, the perseverance touches down on the red planet. the world's reaction is making a buzz this morning. we're going to tell you all about it. you're watching "mornings with maria" live on fox business. ♪ it's like rain on your wedding day. ♪ it's a free ride when you've already paid. ♪ it's the good advice that you just didn't take. ♪ and who would have thought
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baldwin weighed in. want to bring in new york state senator jim ganesco. i want to get your reaction to what seems to be a bipartisan attack on cuomo and these calls for him to resign. >> well, absolutely. i think when you're a progressive democrat, a liberal, and you lose alec baldwin you know you're in big trouble. he was in big trouble before alec baldwin decided to discone him. this has been a complete coverup over the last eight to 10 of 10s of a monumental disaster, beyond the pandemic. as we research this thing and get information, of a complete coverup. as you know, for a public servant, the coverup is mostly worse than what you're trying to cover up. 15,000 of our most vulnerable
population, our nursing home individuals lost their lives and this governor has been covering up the numbers and now we've been calling for investigations. they've been calling for -- to move my bill for an outside, independent investigation, bipartisan with subpoena powers and actually ron kim who the governor has attacked, a democrat in the majority has sponsored my bill. what the governor managed to do is not only a gigantic coverup, he's managed to do something that's difficult in new york state to bring republicans and democrats together. we're calling for a complete investigation, supporting what's happening in brooklyn, with the fbi and u.s. attorneys for an investigation. but one shoe after another is dropping right now. so many shoes are dropping. you may call this a centipede right now. the ag, who is one of his allies, did an investigation and came out and said it was 50% undercount of the loss of lives
he's been hiding and the fact that on march 25th he put forth a mandate, an executive order that said contagious individuals would have to be accepted into nursing homes and he defined that as a wildfire going through dry grass and of course we have his chief of staff as you know thinking she was talking to allies, democrats from the legislature, she add. admitted it wasn't why they weren't giving us the information, because they thought they wanted to count the numbers completely or find out there were due bring cases. she said we covered it up because there was a doj investigation. that was an inquiry. that's really an investigation taking place right now. that is not going to end well for the governor. he's indicating he has more angles than a geometry book. he has another excuse every day why we lost 50,000 of our most
vulnerable of our population. i experienced a governor that was a bully, a liar, a distorsioner and the fact that the governor won't accept criticism, won't apologize to the loved ones. his top chief of staff, melissa derosa as i mentioned brought the individuals in and thought they would become allies, the democrats from the legislature. they were the opposite. they were outraged she would apologize to them but wouldn't apologize to family members that lost their lives. cheryl: i want to go down this road. there is talk of impeachment. but to your point about governor cuomo being a bully, we've seen him deflect, fight back, consistently when asked by reporters about whether it's the coronavirus, the nursing home directive from last march, republican lawmakers obviously in the state assembly they want this impeachment commission to investigate his handling of the crisis with the nursing homes but democratic lawmakers are looking stripping him of
emergency powers. that seems to me, like i said, i watched the governor for a year, that seems to me more likely that at least his emergency powers would be stripped. >> well, i think they plan on and we plan on putting that forth again on monday anyway. every day we've been in session, my republican conference has put forth an amendment on the floor to take back our power and take back the so-called emergency powers from the governor. what we're finding out now -- this is the lies, distortion and coverup. this every shoe dropping is leading towards an obstruction of justice by this governor. i believe the first thing we have to do is take back these powers that we have given to the governor. that was early on in the emergency. he hasn't handled it well in terms of this. but we have to have an internal, complete investigation. a deep dive into this to make sure that we not only give he closure to the lived ones who lost their family members but we
figure out how to do this better. this is one of the worst disasters in the history of new york state, maybe the nation. 15,000 of the most vulnerable population lost their lives. the governor has himself so deep into the coverup, evidences not facing reality right now. we know it never ends well when you try to cover up what's taking place, what you cover up usually ends up making it worse for you and this is making it worse for the governor. the final analysis, i think there's going to be three options. he's going to have to resign, there's going to be impeachment, which we're ready to probably bring forth shortly ourselves in the new york state senate or this is going to be a criminal investigation and a dereliction of duty type of thing or obstruction of justice brought forth by the federal government and doj. cheryl: i would love to keep talking with you. we're up against a hard break. jim, thank you very much for being here. please come back. all right, coming up, popping
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automatically adjusts to keep you both effortlessly comfortable. will it help me keep up with mom? you got this. so you can really promise better sleep? not promise... prove. and now, save up to $800 on new sleep number 360 smart beds. plus, 0% interest for 24 months & free premium delivery when you add a base. ends monday. cheryl: it is time for to morning buzz. mars has a new visitor recall. s. the perseverance made a landing on mars. it's going to spend two years on the red planet searching for signs of life and exploring the surface. this is nasa's most technologically advanced robot ever to be sent into space. the rover even sent its first photo to all of us back on earth. really exciting, james. did you watch any of this yesterday? james: yeah, it's another engineering triumph and it's a reminder, we're watching in
texas right now what happens when politics gets in the way of engineering and fortunately we have a counter example here where politicians and bureaucrats stayed out of the way of the engineers enough to let them create this marvel. it's a lot of amazing technology and should answer one of the biggests questions we've had. cheryl: who is out there? next up, the dream -- james: or what is out there. cheryl: the dream proposal, wedding magazine the knot is gifting workers with the proposal of a lifetime, selected couples receive a personalized proposal. to be eligible most partners must be essential workers and submit their story. pretty nice, brian. brian: i love this. i love the idea of workers who have put a lot on the line, getting a chance to have a very special proposal. i think the only challenge is when the proposal's so wonderful, what happens with the
wedding. it has to be equally great. maybe get help with that as well. cheryl: thanks to both of you. coming up, the deep freeze, former energy secretary and former governor of texas rick perry will be here as the home state stays in survival mode and how the brutal cold may aexpect the energy sector. that's all next hour, "mornings with maria" live on fox business.. a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity. you need decision tech. ♪ ♪ ♪ ♪ ♪ ♪
from our resume database. r credit, when you post your first job at indeed.com/home. . cheryl: good morning. i'm cheryl casone for maria bartiromo. it is friday,february 19, top stories 8:00 a.m. eastern time. robinhood capital hill grilling ceo apologizing for trading restrictions following gamestop frenzy in, from white house economic adviser larry kudlow going to be here texas a breaking point millions of americans without clean drinking water hundreds of thousands without power rick perry next on the crisis.
>> mainstream media bias for coverage when it comes to in issuing governor cuomo and senator ted cruz we have green arrows above 100 points on dow jones industrial average at 92 the moment nasdaq up 76 s&p up 16 1/4, markets finishing lower yesterday big tech weaningness disappointing economic data weighing on investors, whiskey drinks rejoice how many jamison is paying people to stay home st. patrick's day making a buzz this morning "mornings with maria" is live right now. . >> taking a look at global action european markets are now higher, as you can see. you've got ftse in london up more than -- about a quarter of a percent contact 40 paris up 3/4s of one percent dax up 3/4 of a percent top stories this morning, on hot seat robinhood ceo yesterday facing questions from the
lawmakers on capitol hill apologizing for company decision to tertiaryly curb trading including gamestop amid extraordinary volatility, also gills house in trader led investors into gain game under online allious allious roaring kitty. cheryl: i am just an individual investing in stocks posts on social media upon my research and analysis. >> i am sorry for what happened i apologize robinhood as organization will learn from this make sure it doesn't happen again. >> first of three according to house financial services committee chairwoman maxine waters. >> without power freezing temperatures chaos in texas san antonio fighters had a
truck in water in battling an apartment fire hydrants were frozen o more than 80 people displaced much of the state in survival mode 13 million texans without drinking water asked to boil it before use, over 197,000 homes businesses still without power, major improvement from over four million outages reportedtize, some residents using ford f15:30 hybrid pickup truck to power homes thanks to the onboard generator. >> grocery stores running out of food icy roads preventing trucks from -- >> policy officially coming to an tend first wave of 25,000 asylum-seekers crossing the border today biden backed immigration plan offers 8-year path to ship for 11 million
undocumented grants grants immediate green card for farmworkers,. >> ice new guidelines nearly enforcement actions removals ice officers have to get preapproval from supervisors before arresting or deporting anyone not convicted of an aggravated flown. >> the pandemic, trying to change in china during the virtual meeting biden administration to restart talks with iran other world powers over tehran's nuclear program iran set a sunday deadline vowing if sanctions are not lifted will expel inspectors from country ending owed access to morning that you sites. >> a shot of pfizer covid-19 vaccine, he 85% effective after two weeshgz according to new study, out of israel, it
could fuel a debate, trying to stretch out supplies pfizer said it has data showing vaccine probably in if pharmaceutical freesers in refrigerator up a quarter of 5% cent. >> creases in lonestar state more than 14 million without safe drinking water fallout from severe weather continues, san antonio, boiled water no its until monday from residents using snow to flush toilets, over 197,000 homes businesses without power that is a major improvement from over four million outages reported during the peak of the blackout. >> joining me now former texas guests former energy secretary rick perry good morning, sir. >> good morning. >> i am so glad you are here joining the conversation entire morning james freeman brian brenberg with us, well, you know, governor i just -- it is so -- i am from texas you know we talked about it
sad to see what is happening down there how are things today? >> we had low temperatures last month so a continuation of the cold weather. good news is forecast is to get above freezing later in the day and stay that way for quite sometime. today before dips below again tomorrow here is a key, cheryl from my perspective that this was a -- black swan event if you will, one-of-a-kind may be the only type of event, in have a hundred years, but we should have been recognizing that we hadn't when eased are properly we talked buck this mid 2000 these types of things needed to be done, and it is
it is a real problem, and governor and legislature is correct in looking at how this happened why it happened to make sure it never happens again. you know some of the things that people talked about, is that the federal government, should come in, and regulate the texas grid. i think that is an overreach. let's find out what happened. when -- i think about what is going on in this country today, having been secretary of energy worked with marshal labs watched jell propulsion laboratory in extraordinary victory for technology, why not bring in those national labs, working with our universities in texas working with the state of texas, find solutions to our energy needs. we know we have to have a diverse energy portfolio wind
was a problem it wasn't the only problem we had problems across the board the smartests minds in the world national lab working in partnership you the state and federal government can be really good partners from my perspective, university of texas, texas a&m texas tech have great minds let's find the solutions to these energy needs that we have. how about compact fusion reactors how about small modular reacts reactors will give diversity the key we lost our base load historically has been national gas coal and nuclear. the desire of the left to push all of those out the door was a real reflexion of bad
decisions, let's have a diverse energy portfolio we can do this we koobt do it if sitting around pointing fence, at each other, going on like we are seeing now let's settle down, democrats republicans work together, find the answers to our energy needs in this country and at the same time, address the needs of the climate we can do that. >> and certainly i know with oil prices, falling for the a second day, production starting to come back really shows we need fossil fuel you can't home in make everything green that is a whole other debate the damage to refineries i am hearing could take weeks to repair longer fuel shortages, secretary he can what concerns do you have about recovery? have i mean we need recovery to start yesterday. >> correct. and we've had the big national disasters what this is this is a national disaster hurricanes that come in impacted our
infrastructure. we will get through this. people are suffering right now. we know that i mean being without electricity for the day that is we've seen without drinking water i mean a major crises have to figure out how it never happens again we will get refineries working right now focus needs to be getting generators up, people with power, the water treatment plants back working so people know that they can be safe, that they can take care of families. >> one thing i couldn't he believe whole family going through this, other texans have as well the fact that telling folks to boil water they don't have water don't have a supply. it just -- >> i don't understand this at all. >> this is this is unacceptable. i talked to mayor of dallas
in the last couple days, and you know we disagree on may be some of the grid issues, and he needs to have oversight an grid what we agree on -- i it is unacceptable we've got to find answers to challenges that we have, now, lord willing don't happen for another hundred years if you are going to stand up say i am going to leave this state i am going to leave this country, you need to be having these conversations about here is what we needed to be prepared for. let's talk about winterization for a second how do you get companies to do winterization? do you give them incentive? we did an incentive program in i think mid 2000s to reduce the he emissions in the state texas emissions instruction plan we used the franchise taxes, if -- companies to transfer over to these new
efficient clean engines why not do same with power companies rather than demanding they spend money on or have legislature pay for it -- find a middle ground. >> secretary rick perry former governor of texas we are all praying for people of texas it is a great state that is what we call it, it is going to be great again thank you, sir. . >> well we've got go more coming up this morning, things are getting worse for new york governor andrew cuomo over the deadly nursing home cover-up we are going to look how media is covering this ongoing story -- larry kudlow here to talk about his show and reactions to yesterday's gamestop hearings later in the hour, take the day off, brand wants to pay you cash, on st. patrick's day make buzz this morning we are going to tell you all about it you are watching "mornings with maria" live on fox business. ♪
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president joe biden planning to discuss in a meeting with g7 later today making clear not looking for competition or another cold war i want to bring in senior fellow great u.s. china author, gordon chang your reaction so tar about what we've heard from president biden about issue of china. >> i think biden does not understand the depth fundamental hostility to u.s. found on notion it had the right to rule the world, and
now xi jinping has been hinting of that united states no more than a colony i don't know how you cooperate with a country that generally feels that way. cheryl: i want to gri in james freeman into this we have new administration under joe biden one of the best things president trump did was get tough on china. james: i think he zefshgs a lot of credit president trump for changing the way the opinion in this country looks at china i think he successfully made base longtime bipartisan approach among washington establishment to treat china was reforminging country moving towards democracy was wrong i think he has done a good turn but i hope will benefit us in the future gordon i am wondering now what are you hoping to see out of biden
administration? have sadly hong kong freedom is being destroyed by the day, are there things would you like to see in terms of standing with taiwan, in terms of -- a message from biden action from biden would help counter this threat. >> my sense is that u.s. needs to have this fundamental reassessment and we're not seeing it on the initial comments from the president. also, executive orders taking down many of the protections that president trump had especially those in last year in office for instance, this notion that we should not we should still continue to buy equipment from china for the grid, you know president trump in may last year banned that first hours in office president biden said no, china can now sell to our grid. and we know they have been selling sabotaged equipment
that is fundamentally wrong conception of the notion of china on the part of the president. >> i want to zero in on human rights abuses maria talked a lot about this on show at cnn town halltize he was steady about treatment of wayingures in china he said culturally there are different norms. your thoughts. >> well it borders on racism what biden was saying was crimes against humanity flow from china's cultural norms means that china's cultural normal are brutal the reason crimes against humanity are committed against racial minorities a lot of chinese xhernz are really upset you about what biden said because here you have a president who lectures us on white supremacy made comments dangerously close to white supremacists,.
>> you've got an op-ed how u.s. can counter beijing efforts to remake global trade routes he said a major effort by u.s. based on credibility of business model devoid of colonial as operations could jump shart economies a revolutionize of free societies globally. >> first of all, china has no has been a failure don't talk about it as much kwhooip has been taking over ports can be used by the chinese navy we got to remember that china put in about 2.4 billion dollars in free port 87 miles east of palm beach that doesn't make any economic sense so within decade we could see that being a chinese military base just within sitting distance of
florida. you know the thing about belton road the united states government can encourage things to do things we shouldn't be encouraging them to do things when don't make sense economically that is the thing i think chinese companies are now starting to see what they are trying to do bull stuff private market shunned never works in the long run. cheryl: we will get to that -- has to be justice for jimmy lai as well, good to have you here. >> thank you so much, coming up, the battle, senator ted cruz that mexico trip getting more time in media than cuomoos's cover-up of nursing home. gamestop, we are getting into that coming up.
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cheryl: new york state republican lawmakers moving to form an impeachment commission against governor andrew cuomo in administration handling of the covid-19 nursing home crisis abc -- tonight giving ted cruz's trip four times coverage to cuomo scandal giving cuomo cover-up 55 seconds coverage, four minutes went to ted cruz, james, your reaction to this? james: appalling the continuum cuomo issue beyond new york we can't run experiment again, but if -- if the numbers had been open new york had given thank yous real story people realized how much the problem was focused on
nursing homes, maybe that new york model of walking down everything -- locking down everything destroying economy could would not have been -- maybe people realized about focusing protection on elderly population. so enormous tragedy not just for new york, far as cruz thing i don't think there was a need for him to apologize i think a completely phony scandal, not anything like politicians last year forbidding people from leaving homes, and then -- traveling and going to restaurants on their own it was hypocrisy problem. here i don't think ted cruz forbid any texans from leaving, i would imagine since entered service telephone service in cancun like in united states he probably could get more done down there than if texas trying to figure out how to keep house warm how to get power for the family, i
don't think he should have apologized i realize optics going to mexico cotroubling i don't see evidence he would have been more effective senator freezing in texas. >> do you think the cruz story deserves more coverage than nursing home. brian: absolutely not bad on the i guess he didn't like it apologized here is problem with cuomo story the press has to go back admit for a year it was telling the wrong story. it was misleading american public about what works, what doesn't, and the media does not want to touch that does not want to make sure that admission looking for anything to talk about besides what is going on in new york. cheryl: we've been talking about nursing home scandal for months on this network -- or colleague -- mainstream media, took months. >> a lot more coming up kudlow host larry kudlow to talk
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. cheryl: welcome back i am cheryl casone for maria bartiromo. it is friday, february 19, look at market this half hour ahead of opening bell, futures are higher,y up 93 nasdaq 84 1/2 nasdaq excuse me s&p is up 17 1/2 taking a look at global action european markets hire, as you can see, right now the ftse is now green it was earlier about a quarter percent contact 40 up almost 1% dax in germany up o he 3/4
of a percent stocks green nikkei down over 7/10 of 1%, top stories for you this morning, ibm reportedly looking to sell its watton health business unit yoous a.i. intelligence is not profitable, said looking for alternatives for the business including sale to private equity firm or merger. there is ibm free market up a quarter of a percent facebook steps to block platform after a little bit ofering report from financial services says tech giant failed to properly investigate past collection of data calls for federal action investigation began after 2019 report found quietly passing
data to facebook. >> -- first 500-million-dollar quarter in sales stock -- down, beat estimates 498 million dollars coming as company transitions to work from home format, increase in new users during the pane, a scholarship honor of rush limbaugh established to help family of fallen american heroes rooen corps law enforcement foundation behind it led by more than 3 million dollars to over the years, congressman also introducing a resolution commoning limbaugh for devotion to country icon died wednesday following battle with lung cancer. >> robinhood taking the hill stock ceo players retail trading frenzy testified in front of the house financial services committee yesterday to discuss roles in the market madness listen.
>> customers i am sorry i apologize please note that we are doing everything we can, to make sure this won't happen again. i want to highlight one more thing -- the federal trade exposes investors industry to unnecessary riv no reason the greatest financial system cannot settle trades in real time. >> why did robinhood restrict buying not selling of gamestop, why are -- >> -- why? >> requirement, selling does not moreover -- prevent customers from selling is a very difficult and painful experience where customers are unable to access their money. so we don't want to impose that experience on our customers unless we have no other choice. cheryl: joining me now larry kudlow, good morning. >> good morning. >> what did you make of the hearings yesterday from what
you heard? >> you know -- insiding nothing back-and-forth rob guy looked like bursting into tears i didn't know what apologizing for, back-and-forth with ken on citadel i don't know what went wrong maybe the stock exchanges want to have a look at it i don't want to -- speak federal regulation you have capital requirements, that have to be filled. so, brokerage firms sometimes have to stop trading limit trading like goldman merrill lynch have done same margin calls very careful but nonetheless what goes up comes down isn't really clear to me except that may be some new investors i welcome all new investors, i love
democracization may have they didn't realize if price goes up could go back down the way i look at it i can't find anything wrong with the story. i never could actually. >> did you expect more regulation new rules implemented by, what do you think happens next? >> well -- my friend acquaintance going to take over sec, he is a lot bigger believer in regulation than i am, my view no, no regulation. unnecessary, again, if -- issues here glitches here one way or the other, let the exchanges meet with robinhood and/or the -- the brokers and see if something could be done better i mean something can always be done better, look on issue of you know, transaction friction created dell brokerage firm for making the book, permitting better
trading conditions, the only way you are ever going to have this completely friction free frictionless, cost free if you go to bitcoin, where you have an immediate transaction, and ledgered on blockbuster. we don't have that technology advanced to that opponent i am not opposed to either side of the trade making a buck okay? i believe in property motive as long as fair and legal looks to me everything here was fair and legal i mean i saw great stuff from some of the house members, this and that. i just i didn't know what exactly they want what do they want here? i didn't know exactly what they know i am not sure they knew what they know a lot of fun hand waving yelling good coverage what did happen you tell me. cheryl: grandstanding my opinion on that nobody is asking me i do want to ask you -- >> aha grandstand being.
>> treasury secretary yellen pushing for larger stimulus package said this is interesting the price of doing too little is higher than price of doing something big also said that any tax increases talking about this now, by biden administration would not be implemented until later in the year after pandemic has passed what did you make of comments. >> they are not -- it was interesting to here her point of view i had steven mnuchin on our program on tuesday, and i rather side with them first of all, i think package is monstrously too large, point number two, it really doesn't meet criteria of reconciliation because reconciliation is supposed to hold down spending and hold down deficits, so far as i know in this two trillion-dollar package, there is not one single pay for offset, now the other point to
remember is the economy is booming, we have had tremendous numbers out in recent days, on retail sales, on housing, on manufacturing production. technology is roaring, all those sales are roaring, it is a v-shaped recovery i keep arguing miss yellen down the have that optimistic spirit but extremely smart woman would knows darned well how strong the economy really is. regarding tax increases we should not raise taxes period full stop period full stop, if you want a long run economy to grow keep incentive structure intact, let people keep more what they earn and invest let them keep their own money, don't withdraw liquidity from the economy, these are -- you want a large scale tax reformer lower marginal tax rate broaden base do not raise
corporate business tax for large and small companies that gave as you tremendous pre-pandemic boom that we were doing going to have big disagreements he despite my misgivings about what hears thrust of biden policy do i think the economy is in very strong shape i urge you and listeners viewers look at are editorial wall street, he says key could have herd immunity by may call it spring vaccination over 50 million much greater than actual total cases, running under 30 million, that is a turning point bullish for american safety family kids workers polish for american economy and jo. >> op-ed that you mentioned a fox news contributor, quick,
how is the show going. >> i knew it had to be only the best no question. >> how is the show? >> that survive first week? >> how is the show? i am loving it. having the time of my life. i want to tell everybody how much fun it is how grateful i am, by the way, how wonderful fox people have been helping me get back to work. >> good place to work, and welcome and glad you are here can't wait to see you in person larry kudlow thank you very much very much larry. be sure to tuna -- tune into kudlow. >> gamestop ripple effect lawmakers pushing for tax on all security trades we get into that coming up, plus luck of the irish jameson wants to pay you cash on st. patrick's day making a buzz this morning telling you all about it you are watching "mornings with maria" live on fox business.
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>> good morning chel house democrats see gamestop as golden opportunity to change how washington regulates wall street at gamestop hearing one most popular progressive ideas a tax on every you make to deter to risky trades house medicinal services chairwoman maxine waters admits it is more about the money. >> that basically, to make a decision whether that is a legitimate source are revenue, don't forget we are spending billions, on covid-19 we are talking about what we're going to do for infrastructure. >> she hasn't made a final decision on trade pact but seriously looking at it is a option ken griffin warns committee that would make it
harder for in accordance take advantage of the stock market to save for retirement. >> we firmly believe transaction caps will injury americans hoping to save for retirement. i believe that vanguard has publicly come out said we have to work 2 -- >> i want to -- yeah. >> i want -- >> it is important. >> no, no i am reclaiming my time that -- american people not only -- >> even expert witness yesterday from cato institute told committee that a tax like that ultimately would trickle down hurt investors long term retirement saving goals told them she did not think it was quote a o good idea after they heard from witness yesterday some democrats still think it is a good idea cheryl: unbelievable hillary vaughn from capitol hill, thank you. >> -- what do you make of all this you can't tax your way out. >> you can't,. >> frustrated. >> democrats trying to pretend
this is a solution to the gamestop issue like he talking about it a very long time the data on financial transactions caps is pretty clear, countries that don't them often abandon them because they don't pan out when you tax the activity the activity leaves if america if congress wants to drive financial markets more out of this ken decimate that industry, go in a direction like this, because that is the proven result of it, it doesn't work, to enhance prosperity gets rid of avenues average americans can use to invest in the market issue. cheryl: really james i can't believe we are having this discussion, in the middle of a pandemic. that they brought this issue up. >> you were just talking to larry kudlow, he was saying what were they real after in a this hearing? what is the goal here? and the answer is it is a money grab, just shows how ridiculous and phony that --
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. cheryl: it is time for morning buzz take a day off with jameson whiskey maker introducing st. patrick's time off a new campaign for fans, to take the march 17 off spend it connecting with friends, comedians, joined in on fun to use vacation days even if at home jameson getting 1,000 people 50 dollars for stave st. paddy's festivities donate to workers impunity foundation what do you make of this. >> i love it last year no st. patrick's day everyone trying to figure out lives why don't you do something fun working at home easier to being no off few minutes earlier find jameson whatever sit back have a drink, i love giving to restaurant workers as well you
can win a little bit for yourself. >> i feel are terrible for irish restaurants and bars -- >> yeah, but this the story to me a little puzzling in my experience covid or no, people really don't need an incentive to drink jamesons on st. patrick's day i think might be under rating their product a little bit i have always found to be very compelling. >> promotion, talking about it we are buzzing. >> that is right. >> i want i want to know what james' normal st. patrick's day celebration is i could see him in green hat bow tie james is that you the parade guy? >> i am hoping that the the answer normally come from ireland, around st. patrick's day will come back again we
can only hope,. >> well again, good for them, thank you very much, more "mornings with maria" live on fox business right after this. ♪♪ ♪ you can being drive my car and baby i love you, yeah ♪♪ ♪♪ at fidelity, you get personalized wealth planning and unmatched overall value. together with a dedicated advisor, you'll make a plan that can adjust as your life changes, with access to tax-smart investing strategies that help you keep more of what you earn. and with brokerage accounts, you see what you'll pay before you trade. personalized advice. unmatched value. at fidelity, you can have both. ♪ more than this ♪ the lexus es, now available with all-wheel drive.
beating on the top and bottom line and raise their earnings forecast citing increased demand for farm and construction equipment. good to have you both here. james, final thought? >> i think we should be optimistic. we are close to the end of the covid nightmare with great news on the pfizer vaccine. we are very close to herd immunity. cheryl: very good news. brian? >> still thinking about texas. i want some clearheaded analysis on why it happened and how texans can help to make it right. right now there's too much heat in the rhetoric and not enough -- more heat on the ground and more clarity and how we can get past it. cheryl: former governor perry who was on the show earlier saying it needs to be investigated, but as a texan i had to tell you that's a storm of a lifetime. that's something i have never seen a my family's been affected as many others and it's so sad.
thank you for being with me. it was great show. back to does it for us. we have "varney & co." coming up next and guess who is hosting, david asman. david: great to see you and sorry to hear about your family caught that awful storm and we have doctor mccarey. we are talking about the doctor from johns hopkins who said we will have heard immunity by april. we have him coming up in a moment. cheryl, thank you. have a great weekend. good morning, happy friday. i'm trying to import stuart varney. the power beginning to turn back on four of millions in texas but the problems are far from over. 7 million residents are still under orders to boil their water before consuming it. we will take you to frozen texas for a live report later this hour. janet yellen is echoing president biden's call to spend a big say in the bigger risk is not spending all this money.