higher than the average of the past 5-10 is years, but today the 10-year is at 4.3%. fife or ten years ago, it averaged about 2.8%. so definitely the market's overvalued. as is the corporate credit market. junk bond spreads are very, very narrow. it makes no sense to me. they can only go wider. maria: all right. we will leave it there. fantastic conversation, everybody, we so appreciate. ej antoni, congressman style, john lonski, cheryl casone, stephanie pomboy, thank you so much for reacting in realtime. dow i the industrials down 104. we've got 30 minutes before the opening bell sounds for a friday, the nasdaq is up 28 right now, i will see you tonight on maria bartiromo's "wall street" right here on fox business with, 7 p.m. "varney & company" is right here. stu, take it away. stuart: good morning, everyone. another read on inflation. this is the one federal reserve

pays close attention to. the producer price index up 0.9% in the last year. it was expected to be lower than that. in the last month, it was up a strong 0.5%. the bottom line here is these numbers are hot. inflation is accelerating. here's how the market's responding, not well as you might expect. the dow industrials down about 100, s&p down 5, but the nasdaq, big tech's doing well apparently again, up 27 points. interest rates going up. sharply so. look at the yield on the 10-year treasury rising to 4.31%, and the 2-year, that's gone straight the up as a well. it's now at about 4.67. there it is, 4.67%. straight the up. gas, that's to creeping up on a regular basis. regular gasoline now averages $3.28. that's up 1 credibility. diesel, $4.10, up 1 credibility as a well. -- 1 cent as a well. bitcoin can holding strong at a $52,500 a coin.

politics, a lot to go at today. sensational hearings in georgia. prosecutor fani willis getting emotional and combative on the stand. she's accused of misconduct in trump's fulton county case. the judge admonished her or several times. trump is winning the pr ballot. special counsel robert hur will testify on march the 12th. now we'll find out if the president is fit to serve. hur's report found a jury would not convict the president for keeping classified documents because the president is a, quote, well meaning, elderly man with a poor memory. these hearings could sink biden's ooh presidential campaign. today biden goes to the site of the toxic spill in east palestine, ohio. it happened over a year ago. his delay in attending has not gone down well with some residents. on the show today, another foreign policy fail. venezuela's dictators has reneged on his deal with biden. he was supposed to allow free elections and in return we got some oil.

in fact, there'll be no free election, and we get a surge in migrants, some of who are running criminal gangs. we'll show you a private school in los angeles who couldn't cope with the drug ad districts and homeless people on top of them. and those diet drugs very expensive, a month supply of ozempic will knock you back $969. wegovy, $1,349 a month. friday, february the 16th, 2024. varney and pane is about to begin. ♪ -- "varney & company" is about to begin. ♪ ♪ ♪ good day, sunshine ♪ stuart: don't you love it when they play the beatles first thing? good day, sunshine -- lauren: and it's sun. ny on a friday. let's go get 'em, stu. [laughter] stuart: it is friday morning, and we're going to start with

the latest producer price report. it was hotter than expected. taylor riggs with me this morning. take us through it. >> .3% on headline, hotter than expected. core numbers, which is what we really want to look at a, struck out that volatile food and energy, hotter than expected, .5% month over month, 1.6% year-over-year. of most of these figures are accelerating into the month as well similar to what we got from cpi. very concerning especially when you think about a federal reserve which now may not be cutting as soon as we thought. stuart: yeah, good stuff. okay, i want to -- what's the market reaction at this moment? a downside move for the dow and the s&p, modest gain for the nasdaq. kenny polcari. inflation is accelerating, it's hot. i don't see how the federal reserve can cut rates anytime soon. what say you? >> they can't, and we've been talking about that. quite honestly, i actually think because the fed narrative has been very clear, they're been

pushing back on this rate cut narrative and i think because they were well aware that we were going to start to see these upticks in cpi and ppi this month because they've all come out, they've all said, yeah, well, we'd like to see lower rates, we're in no rush are. so everybody back off from that immediate rate cut story, multiple rate cut stories which was really illogical to me, and you and i have talked about this. now i don't think the fed cuts rates at all this year. if we're are lucky, maybe november and december, but certainly not before. stuart: so the markets are going to back off their all-time highs on the dow and s&p. they're going to back off no matter what, right, kenny? >> well, they'll back off like they did on tuesday when they had a complete, you know, nervous breakdown. they sold off in dramatic fashion. but with look, stu, the market's backed off by 1.5%. it's up 60% in a year. so 1.5% is nothing. i would love to see the market back off 5-8 and really shake the branches a little bit to see who hangs on and who doesn't.

but that doesn't mean you're going to light your hair on fire and sell everything and go to cash. not at all. you just need to be strategic. stuart: interest rates on the treasury securities going straight up today. normally that is bad news for big tech and the nasdaq, but i see the nasdaq is still on the upside today. explain it, please. >> right. so i think it's, i think there's a delayed reaction there. i think nasdaq's going to turn as the market starts to open and as these rates shot up and they stay there during the day and there's more talk about the ppi. i think this is just an aberration at the moment that is nasdaq is, in fact, going to slip and start to trade lore as we move into the full trading day. stuart: you want to see see a nice dip so you can buy. >> i would love to see a nice dip. [laughter] i'd love to see that. stuart: have a great weekend, kenny polcari. >> you too. bye-bye. stuart: now to politics. that's our bread and butter. the stuff i love the most put it hike that. fani willis took the stand in

her misconduct trial yesterday, and let's just say it raised some eyebrows. roll tape. >> highly offensive when someone lies on you, and it's highly offense e when they try to implicate somebody you slept with them the first day you met them. you think i'm on trial, these people are on trial for trying to steal an election in 2020. i'm not on trial no matter how hard you try to put me on trial. stuart: her former assistant confirmed willis' personal relationship with the prosecutor. watch this. >> and when i say personal, romantic. is that -- i just want to make sure we don't get in an argument over what personal and row plant ec is later. when i ask you perm, do you take that to mean romantic? >> yes. >> and do you understand it, that their relationship began in 2019 and continued until the last time you spoke with her? >> yes. stuart: okay. kaylee mcghee white joins me

now. kaylee, does it look like fani willis will be removed from the case? >> it certainly looks so, but a lot of this depends on how the judge interprets evidence that's been presented thus far. both willis and nathan wade, the special prosecutor she appointed to oversee the donald trump case, proved yesterday that they have made false sometimeses before the court, him in his divorce proceedings and her in the filings in donald trump's own case, that they were in an improper relationship with each other when she appointed him as special perform but yesterday's hearing was quite amazing in that fani willis was able to get away with things that normal witnesses would never be able to get away with, and that includes donald trump. trump has been sanctioned, he's been hit with threats of contempt of court, he's been placed under gag orders for going outside of the confines of the questions that have been asked of him, and judge mccalf my allowed fani willis to go on really long rambles and

undermine the counsel's questions towards her. and i think that's a sign perhaps he's not as willing to take as seriously the charges that are being leveled against her. stuart: kaylee or, stand by. i want to move to a separate issue here. special counsel robert hur will testify on his investigation into president biden's handling of classified documents. details on this, please, taylor. >> we know he's going to be testifying publicly on the biden investigation, and this hearing, stu, really comes as republicans is have called this a failure to recommend charges for biden part of the broader problem of this, quote, double standard and this two-tiered justice systems that president trump's prosecution came on espionage act charges. so the house speaker, mike johnson, of course, arguing this case really exposes that two-tiered justice system. they think it's politically motivated, and they want to actually get his thoughts two os and what's going on there. stuart: more details on that. taylor, will you come back -- sorry.

kaylee, come back on this one, please. i'm saying that this hearing is so dramatic and so important that it could actually sink biden's e campaign. what say you? >> yeah. well, it's politically bad with news for biden, and it'sal a legally bad news for biden. remember, the only reason that the questions of his memory came up were as an excuse for the justice department to not prosecute biden for a crime that he did commit and a crime that they're currently prosecuting his top political rival for. so how do you square the fact that the justice department is still prosecuting trump for mishandling classified information and yet they're not choosing to prosecute biden for doing the same thing? honestly, the memory excuse is just not going to hold up legally. and, of course, when robert hur is put on the stand and is asked questions about the specifics of memory lapses by the president, that's going to be politically harmful for biden's campaign. stuart: i think it could be a disaster. kaylee mcghee white, thanks for joining us. we appreciate it. see you soon. >> thank you.

stuart: coming up, a private school in los angeles forced to close its doors over the homeless crisis. the founder says students were being exposed to drugs, drug use and nudity. the founder of the school is here to tell her story. it's only been a few months since elon musk rolled out tesla's a new cyber truck, but the $80,000 vehicle is already having problems. drivers say they are rust aring. and biden is finally traveling to east palestine, ohio, today to visit the site of the foxic train derailment. the white house says biden has no concerns with the drinking water there. watch this. >> the president has no concerns with drinking, drinking the water in east palestine. he drank the water there last year, so we have no concerns. tiewrpt stuart i want to know how residents there will react to president biden's arrival. we will bring you the latest right after this. ♪ ♪ (fisher investments) at fisher investments we may look like

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stuart: house intelligence chair mike turner getting a lot of backlash after going public with russian anti-satellite are capabilities. chad pergram on capitol hill. all right, chad, what are his colleagues saying? >> reporter: well, stuart, they're livid, confused. the criticism comes from both sides. they don't like that house intelligence committee chairman mike if turner alarmed people about the threat of a russian satellite weapon. director of national intelligence avril haines and and national security advisor jake sullivan briefed turner and top house leaders yesterday. >> we all came away with a very strong impression that the administration is taking this very seriously and that the administration has a plan in place. we look forward to supporting them as they go to implement it. i think the department of defense today has indicated that

what we're discussing is a russian anti-satellite weapon. >> reporter: in a strange moment after the briefing, turner spoke alongside house speaker mike johnson and the top democrat on the intelligence committee, jim himes. freedom caucus member andy ogles of tennessee demanded johnson investigate turner. the release unnerved members. ogles called the disclosure, quote, reckless. some wondered if this was an effort to gin with up support for a bill to aid ukraine or renew surveillance programs. >> and why is it just coming out just now? again, it's because they used probably the fisa courts to gain some information through somebody that's not an american citizen and, you know, it's juss suspect. it smells of the deep state. >> reporter: other key lawmakers were dialed in about the threats, but they were surprised turner wanted the info released to all members. >> it's always been urgent. it became publicly, it became

public inappropriately at this time. i don't agree with the way he did this. i don't. >> explain. >> i don't think, i mean, once you open it up to 435 members, it's going to become public. i mean, you may as a well . >> reporter: the white house called this a troubling weapon but said it is not active yet. stuart? stuart: that's right. thanks, or chad. the white house did, indeed, confirm that russia is developing anti-satellite capabilities. roll that tape. >> i can confirm that it is related to an anti-satellite capability that russia is developing. i want to be clear about a couple of things right off the bat. first, this is not an active capability that's been deployed. and though russia's pursuit of this particular capability is troubling, there is no immediate threat to anyone's safety. we are not talking about a weapon that could be used to attack human beings or cause physical destruction here on earth.

stuart: do not be alarmed. pennsylvania congressman scott perry joins me now. congressman, are you reashired by -- reassured by kirby's statement? >> let me just say this, stuart, good to see you, i'm not going to -- i'm only going to comment on the open source reporting. i'm not really reassured by kirby's a reporting on anything, quite honestly. i don't often a believe statements coming out of john kirby or the white house in general. but let me just say this, there's a reason that the space force exists, and no one should really be surprised about the activities of nations to control and dominate different domainses. now, what is, i think, concerning and maybe most people don't know is that many countries including russia have signed a treaty saying that they were not going to use to fennive weapons from space -- to use offensive weapons from space. but, stuart, while all this is happening at the very same time in iran, the united states of

america through this administration is allowing if not encouraging them through the release of billions of dollars to continue with their nuclear weapons program. and not much is being said about that at all. stuart: congressman, i'm going to change the subject for a second. >> sure. stuart: house republicans were able to pass a bill reversing biden's ban on liquified natural gas exports. in my opinion, that's a very big deal. but, congressman, will this pass in the senate? >> well, as you know, the senate is controlled by the democrats, and so it would be a direct slap at president biden. i suspect if it made it to the floor, that it would pass, but i don't suspect that chuck schumer's going to allow it. as you know, i come from pennsylvania. we've got a lot of natural gas. it's an international commodity, and during the heart of winter when our constituents are paying record prices including new taxes put on natural gas by the biden administration, they would like to see the prices come down. this does not, this does not

encourage prices to go down, this is actually encouraging prices to go up while also helping our adversaries in russia. stuart: just across the state the line in new york state from pennsylvania, the marcellus shale continues underground. there's enough nat gas in new york, under new york state to heat the entire planet, but we can't go get it, and we can't pipeline are it anywhere because of the greens, because of president biden. >> right. stuart: i mean, what do you make of that? this is a deliberate restriction on our ability to produce and export a much more friendly fossil fuel. >> you're exactly right. and no one does it it more cleanly than the united states of america. and, of course, new york, the residents of new york and new england in particular suffer the greatest as we import russian natural gas because we refuse to go get if natural -- the natural resources that are clean and right beneath our feet. stuart a stuart it drives some of us nuts. congressman, thanks very much for being with us on this

friday. i hope you have a great weekend, sir. >> you too, stuart. stuart: president biden will make his first visit to east palestine today. that's more than a year after the train derailment. what is the white house saying about this, taylor? >> they're saying that everything is fine, that biden, the president, is going to go, he has no problem even drinking the water. it's been over a yearing like you said. take a listen to what kjp had to say about it. >> the president has no concerns with drinking, drinking the water in east palestine. the epa is confident that the drinking water is safe. he drank the water there last year, so we have no concerns. >> so no concerns from their end, but president trump, the former president, of course, coming out on social and saying, well, maybe something different. he said biden should have gone there a long time ago. for him to go now, it is an insult to those who live and work in east palestine the and the great state of ohio itself. i can't believe anyone wants him there, question mark. so i think there's a lot of

concerns. you don't want this to become a political issue, but unfortunately if you wait so long to go, it has become a political issue. stuart: and trump eat plague it hard. no surprise this. quick check of futures, please. heading out towards a 3-day weekend, by the way. dow's down 100, nasdaq's up 17. the opening bell is next. ♪ ♪ trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos,

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earn points for travel with credit one bank, and live large. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire stuart: futures show a mixed market after hotter than expected inflation numbers. dow's down, nasdaq is up a small amount. it's friday, that means mark ma mahaney joins us. great stuff. airbnb. your price target was 136. what is it now? >> it didn't really change, stu. it's around 140. this is not a stock we recommend near term. i like the asset long term, i like the fundamentals. travel, online travel is just a great space to be in. it's a high margin, high return on invested capital sector. i prefer names like booking or

expedia, expe, in the space. so i'll hold off on airbnb for now. stuart: okay, i'll leave that alone. lyft up -- >> well, you've got a choice here, if you want to buy ride sharing, it's either lyft or uber, and you heard from both companies this week. both companies are showing more and more free cash flow. there is, you know, there's been a lot of ink spilled over the last couple of years about whether these ride-sharing companies could ever be profitable. with scale, with enough revenue, with enough passengers and drivers, they showed that they can be. lyft turned the corner and is now free cash flow positive for this year. uber crossed that rubicon, if you will, about a year ago. but it's a great catalyst for both of them. of those two, i continue to prefer uber over lyft. stuart: do you have a target price for lyft? >> our lyft price target is pretty much right where the stock is or actually a little bit below, we're kind of at $14, 15, and the stock's closer to

$19. i don't think valuations is compelling even though i respect the value catalyst that's take taken -- taken the shares higher. stuart: about a four or five weeks ago you were recommending uber, and i bought it. it is now $80 a share, thank you very much, indeed, mark. that's real good stuff. now tell me where it's going from 80. >> i think you can, if you start stretching it a little bit, i think you can get $90-100. you've got to put multiple 30 time free cash flow, but the business is growing its free cash flow 30-40%, so that's an intrinsically high multiple but not verse discuss growth -- versus the growth rate. rubier was a wonderful dislocated stock a year ago, that's not the case anymore, so it's kind of a smaller buy for me, if you will. stuart: what's the number one stock on your recommended buy list? >> i'm going to stick with amazon. i still think there's a lot of upside in that stock because the cloud business at amazon, amazon

web services or aws, that really hasn't fully recovered in terms of its growth trajectory. we had 13% revenue growth last quarter, i think it can grow as quickly as 20%, so as that acceleration really starts to take hold, i think investors will bid the shares hire. so for me, amazon saluations -- valuations are very reasonable here. stuart: got it. have a great weekend, mark. >> you too, stu. stuart: the opening bell is about to ring are. you've got 20 the odd seconds to go. the backdrop for today's trading is the hotter than expected producer price numbers. we have an inflation rate that's just picking up some steam. month to month and also year to year. the core rate's picking up as well. i don't know how the federal reserve's going to relate to this, but i can't see hem lowering interest rates when inflation's accelerating. the market is now open. press that button, thank you very much, indeed. the dow is down 50-odd points at

the opening bell. but when you look at the dow 30, there's a preponderance of selling. this is a downside bias to the market this morning certainly farce the dow 30 are concerned. the s&p 500 also on the downside today but, again, not that much. in fact, hardly at all. i'd call that flat to basically a tiny -- tongue-tied again. flat to slightly lower. will that work in. >> there you go. you got i. [laughter] stuart: the nasdaq composite. i expect a gain there. premark it was up. let's see, how has it opened? the nasdaq composite is up a tiny fraction, flat to slightly higher. got it. all right. [laughter] thumbs up there from taylor riggs are. [laughter] show me big tech please. where are we now? mostly -- microsoft is up a little, alphabet's up a little. apple, amazon, meta, down. how about nvidia in show me that, please. i think it's up again today. i've got to tell you, loop capital just gave them a a street-high target price of

$1200. >> and remember nvidia replaced amazon, alphabet. it's the third largest company. this is unbelievable. student stuart i haven't done the math, but if it did go to $1200 a share, would it be more valuable than microsoft in. >> i would have to go home and do the math too. but that's the next one on the list. stuart street the high target price, $1200, nvidia. coinbase, that's to had a bug gain. what was so good about the report? >> it's all crypto, stu, right in finally, a 51% gain on the top line after six consecutive quarters of declines. this was a real win from for investors. they were really happy that you really got that top-line growth returning. coming into the prince, jpmorgan had upgraded the stock because of bitcoin, at $52,000, the highest since december of 2021. so all of this poising really good news for -- stuart: i like that expression, coming into the print. [laughter] all right.

i understand there are problems with tesla's cyber truck. >> oh, no. stuart: tell me more. >> i know, they're rusting. at least according to one report. nod -- not good, right? if this was the long-awaited cyber truck that everyone was so excitemented about. it's the an $80,000 vehicle e, so consumers want to get it right. you don't want a car that's rusting. unfortunately, we did get report that after two days in the rain, it was starting to rust. musk had mentioned that owners will soon have the option of purchasing a special coating that helps protect against erosion, corrosion. so we'll start to see if that works. stuart: that's an added extra. you've got to pay for that. by the way, we just heard that are tesla sales in california are down 10%. and that was their primary market. that's adding to pressure on the stock, but it has made $200 a share. jeff bezos, back to amazon, he sold more amazon shares. am i right to say this is the third final this month he's sold stock? >> yes. for a total of $6 billion. the latest was about $2 billion in sales. so that is a significant amount.

but given the runup in stock, maybe that's not aal of an insider selling, that they're worried, just taking some healthy profits. i do want to say that, remember, bezos mentioned he was going to be leaving seattle for miami, so all of these sales don't look so bad at least on the tax basis -- stuart: he pays no capital gains taxes when he's in florida p. he's saving hundreds of millions of dollars. >> why are we here? stuart: next case, doordash, food delivery people. down big this morning, 11%. i thought it was a good report. >> exactly. there was an upbeat 2024 core profit, robust delivery demand, they beat fourth quarter revenue estimates, they're getting more customers on the online platform. i think the thing is you did see losses narrow, but there's still losses. we heard from uber and lyft, they're actually turning a profit now, so i wonder if there's concerns about profitability. stuart: we've had a long series of major corporations announcing job cuts, and today i believe nikeing is cutting some jobs.

>> 2% of the work force. it's about 1600 people. toast, stu, to your point also one of those as well laying off 10% of its work force or 500 employees. all this growth is really starting to slow. cisco was one, 5%. so that's, you think it's isolated to big tech, it's not. you also heard this week morgan stanley, a couple hundred people in the wealth management unit, so layoffs are really starting to spread. stuart: okay, toast. what do they do? >> more layoffs, unfortunately. stuart: what do they do? what's the nature of the company? >> not a toaster and not a restaurant change of it's like an online platform for restaurants, i think, to use for payments. stuart: thank you very much. [laughter] is roku having trouble with their streaming rivals? because it's down. >> if you're down 19%, you would think so. so, look, they topped expectations. the latest result in guidance was good, but analysts think that's management guiding very conservatively so when they actually do report, ever core came in and said that

management's billing in that guidance -- build anything that guidance conservatively are, but numbers still look good. interesting though, this is a company that was mum on that deal between walmart and vizio, so i think maybe people and investors are wondering about competition coming in the pipeline. stuart: okay, got it. all right. we are how many minutes into the trading session? just over 5 minutes n. we are down 160 points. accelerating a little now, the downside, the selling, but we're still at 38,600, pretty close to recent all-time highs but down this morning. dow winners, chevron, american express. walmart and apple. apple's up a little bit today. next case, s&p winners headed by applied materials. let's see what else we've got, vulcan ferrell materials, they had a good report, i believe, ingersoll-rand on that list. not seen them for a while. nasdaq headed by tradedesk, jd.com, lam research, kla corporation. now, how about the 10-year treasury in news here.

hotter than expected inflation numbers put the yield on the 10-year way up. you're back to 4.32%, up 9 basis e points. doesn't sound like much but the trend is not your friend here. the 10-year -- price of gold, barely above $2,000 an ounce. bitcoin right around $52,000. 52,8 -- 52,2 at the moment. oil, $76, $78 a barrel today. nat gas $1.61, way down. the average price for a gallon of are regular gas going up one cent overnight. that's the trend, up. $3.28, is the price. california, believe it or not, it's $4.64. coming up, the cdc may recommend another covid booster for the spring. aren't we doing anything about g about covid? we need more boosters in we'll have a doctor. two of the migrants arrested for attacking cops in new york have now been linked to a violent vends wail a land gang. they're headed to court in

knight today. we'll bring you the latest. fox cameras just caught one with of the large groups of chinese migrants crossing the border in california. wait until you hear the response from one of them when asked why he came. griff jenkins has the border report. next. ♪ ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat. silent retreat? hold up - yeeerp?

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developed with vets. made from real meat and veggies. portioned for your dog. and delivered right to your door. it's smarter, healthier pet food. stuart: 11 minutes into the session and now it's all red. dow especially down 172 points. minor losses for the s&p and the nasdaq. one of the largest groups of chinese migrants crossed the california border, illegally, of course. this was yesterday. griff jenkins is there. you spoke to one of those migrants. why did he say he came here? >> reporter: wait until you hear this, stu. first, relate me just say -- let me just say that we were talking previously about the 20,000 migrants who have come across the southwest border since the october 1st fiscal year began.

well, 90% of them coming through here. i just moments ago got brand new numbers for this sector from the last 24 hours? 212 chinese nationals came across the border yesterday. take a look at the video we shot, stu. what stands out when you look at all of these chinese migrants who were apprehended in this very lower case where i'm standing is so many is of them, single adult males. if and the vetting process for them is incredibly difficult. that's what's worrying the national security concerns of border officials because china doesn't share national security secrets with the u.s., and they're not going to tell us if any of these individual single adult chinese men are here to spy on us or have some nefarious intention. and that is what is so complex, that is what is so alarming. and it's happening every single day. now, that young man that fortunately he spoke a little bit of english, i asked him where he was going. he said, l.a. a, and i asked him why he's here. take a listen here. why did you come?

>> money. >> reporter: money? for job? >> yes. >> reporter: there's no job in china in. >> maybe, i don't know. >> reporter: to take the money. at least he's being honest, stu, about why he's here. but it is a shocking realization when you hear the numbers and stats, it's one thing, but when you stand here and see single adult chinese male after another coming across this border here, it is really quite a staggering realization. it's a shock too. last year they were in texas, now they've shifted out west, stu. stuart: you got it, griff. great story. thanks very much, indeed. now, it's in the too late to send in your friday feedback, questions, comment, concerns, anything you like at varney -- to tony viewers@fox -- to varneyviewersfox.com. robert hur scheduled to testify

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stuart: those popular weight loss drugs have seen big price increases this year, they are not cheap and that is an understatement. look at what a four-week supply will cost you. ozempic, $969. mounjaro, $1,069. wegovy, $1,349. and sepp. bound, $1,060. doctor,someone came to you and said, hey, i need to lose weight fast, would you prescribe ozempic? >> well, good morning, stuart, and i'll tell you, i have this conversation almost on a daily basis with my patients. these drugs have become very popular in the media and on social media and certainly losing weight is a very big topic in this country today. and i'll tell you, i have a really important conversation with these patients before i decide to prescribe it. it's certainly not my first inclination. and i try to talk most people out of it.

you know, these are useful drugs, they're actually very good diabetes drugs, and they can be useful for weight loss, but you have to select your patient carefully. you can't just give it out willy-nilly. you know, there are side effects to this drug. it's a heavy duty injectable drug that can have side effects. first of all, most people if they don't make the associated dietary and lifestyle changes to go along with the weight loss, once they stop the drug, at least half the people the weight comes back. so if they're not willing to make those changes, i say, well, you want to take this drug for the rest are of your life? nay say -- they say, no, no, i just want to jump-start. i want to lose the weight and then i'll stop the drug. i say, okay, if you don't improve your diet and improve your lifestyle, that's not going to happen. so i often try to talk people out of it first. stuart: sure. if you prescribe if it for obesity or diabetes, does insurance, therefore, cover that huge cost? >> it often does not. number one, people are paying out of pocket for it. it's becoming difficult to find,

so certain brands they have to search different pharmacies to find it. because of the popularity on social media and in society in general. stuart: okay. next one. the cdc may recommend a new covid booster for some higher risk groups coming up this spring. doctor, do we still need boosters, and does anyone take them? >> i'll tell you, stuart, i've really come to the point where i'm not recommending these boosters for anyone anymore, high risk, low risk, anyone. the virus has changed to the point where it's really relatively mild, it's really not much more than a cold or a bad cold. it's far less severe than the flu, and we're at the point where the risk of taking these vaccines is greater than the benefit. we're not in the fog of war in early covid anymore. we're at -- we're dealing with a mild illness, and there's enouge enough cause for concern with these vaccines, with mrna pratt form as a well. the -- platte form if as well. there's potential contaminants

of dna a mixed with the mrna that could affect our own genetic components going forward. there's contamination of the liquid nanoparticles. there's enough reason to cause doubt and me not to recommend this anymore to protect from an illness that i'm not putting people in the hospital, people aren't dying anymore. so i think that there is very little benefit for an unknown risk at this point. so for me, the risk is greater than the benefit. stuart: i just want to know, do people come in to your office and say, doctor, give me the covid booster or? does anyone say that. >> less and less every day, stuart. this latest booster, there's manager like an 18% uptick in eligible adults whereas the first round there was a 98 or 99%. i think people are getting to the point where they're saying i don't want to put this stuff in my body anymore to protect from a cold. stuart: got it. doctor, thanks for joining us. we appreciate it. taylor's with me. back to these weight loss drugs. the stocks, the companies, the

stock has gone through the roof. >> wild. know slow nor disk, they're unchanged, up 75% in the last year. eli lilly up 130% in the last year. it is wild. now, morgan stanley coming out this morning raising that price target, a street high $950 as you can see it's about $765 right now. it has been unbelievable, just the huge gains that you've seen on the popularity in part on some of these weight loss drugs. stuart: extraordinary. taylor, there's a trend -- [laughter] trendy diet making the rounds in the health and fitness community. it's called volume eating. as in gluttony perhaps. taylor, explain to me what is volume eating? >> you don't need ozempic, right, stu? that's the case. so all it is the is -- it is is more food but lower calorie food. you can have watermelon, lettuce, cucumber, or berries, and it's a locally food, but you

get to eat a lot of it. if you're someone hike me who i like to eat, you can enjoy it and eat it all the timing but you don't have to worry about the calories because you're still intaking fewer calories than you would on a higher calorie diet. stuart: you would enjoy lettuce, cucumber -- >> i mean, if you get to eat it all day -- [laughter] i guess. stuart: that's my mom used to say, rabbit food. >> but, hey, it works. and what i like about those, they're nutritious foods. stuart: i'll agree with that. but how long can you live on -- >> rabbit food, i know. spin after? -- spinach? oat oatmeal? stuart: is it good for you or bad for you in. >> good for you. stuart: eggs? >> yeah. we have to get you healthy. stuart: i am healthy. [laughter] i've got a british diet. >> porridge. stuart: quickly to the markets. the dow is down 130 points as we speak. s&p and the nasdaq also ever so

slightly lower. the main loss is the dow industrials. there you have it. s&p's down 17. nasdaq coming down, 92 points down. here's why, look at the 10-year treasury. that yield going straight up. 4.30% now. that's on the 10-year treasury, up 7 basis points. check bitcoin, 53 -- almost, $51,8. what have you got to say on that one? >> yesterday we had the highest sense december of 2021. bitcoin on a tear. i think it could be part of the risk asset, this overall risk appetite. and if you're worried about a reserve currency like the dollar, bitcoin hasn't been a bad option. but all those etf approvals, you're finally getting the big gain. stuart: because now it's easy to invest -- >> literally click of the button. you don't have to start mining. stuart: that's right. and there's something called halving -- >> yes. stuart: where the number of available bitcoins comes down -- >> look at you. stuart: -- price goes up. >> exactly are. it happens every couple years,

maybe less than that. so it is a big deal when that happens. the price usually goes up in or around that event, so something to look forward to. stuart: $51,825 as we speak. thanks for joining us for the entire hour. come again soon. we will watch you for sure on "the big money show," 1 p.m. eastern time today on this network. still ahead, president biden finally heads to east palestine, ohio, today more than a year after that toxic train derailment. how's he going to be received by the residents there? we'll have ohio's secretary of state. special counsel robert hur will testify before the house judiciary committee next month, march 12th. keep that a date. that committee wants the transcripts as well. south carolina congressman russell fry is on the committee. can he get the transcripts, can he get the tapes? also douglas murray and lee zeldin -- lee zeldin are going to be here. the 10:00 hour of "varney" is next. ♪ if. ♪

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