Airstrikes on facilities used by iranianbacked forces in Eastern Syria. S the a correct clash it is a direct clash. Two drones aim at israel launched from yemen. They landed in egypt, injuring six. Iranbacked Houthi Rebels launched those drones. Rockets launched from gaza hit tel aviv, three injured, thousands in bomb shelters. Another tank incursion into gaza. Action on all fronts. And there is movement on the political front too. Look at this, a new poll shows President Bidens Approval Rating among democrats has dropped 11 points in a month. Why in the president s support of us radioreel is popular with the israel is not popular with the left. Not hutch of a bounce for not much of a bounce for stocks, this week was a big tech slaughter e. The dow industrials might open with 157point 17 point game, but look at the nasdaq, thats a nice bounce. Not bad. The two stocks doing well this morning, both in technology, look at em go. Amazon up 6, intel up 2, whats that, 5 up for amazon and 7 up if for intel. Significant gains there. Little change in Interest Rates, the 10year treasury at 4. 86, and weve got the 2year just over 5 , 5. 5 05 right there 5. 05 right there. Gold once again approaching the 2,000 an ounce mark, 1990 right now. Gas down again, if 3. 51 for regular, national average, that is. Down 2 cents. And diesel down 1 cent, breaking below 4. 50 at 4. 49. Bitcoin holding gains, 34,000. Lets get to politics. The new speaker, mike johnson, off and running. The seconds of legislation under his leadership just passed. It cut 5 billion from bidens climate spending. On the hoe today, riley gaines campaigning against biological men competing against women in ports. Haas night she spoke at last night he spoke at harvard. A hundred people inside gave her a warm reception. Demonstrators held a trans party outside. Friday, october 27th, 2023, Varney Company is about to begin. Stuart a lot of movement in the mideast overnight. American forces in action. Good morning, lauren. Who did we hit . Lauren u. S. Fighter jets hit two facilities in Eastern Syria used by iranianbacked soldiers to to store weapons and and ammunition. This after two more u. S. Bases in iraq and syria were attacked yesterday. If youre keeping track, 19 attacks targeting american troops stationed in the middle east in the past 10 days. Those have injured 3211 u. S. Service members 21. Defense secretary austin says the u. S. Does not seek conflict, he continues, these attacks are unacceptable, they must stop. Iran wants to hide its hand and deny its role this these attacks against our forces. We will not let them. Separately, israeli troops and tanks briefly raided northern gaza for the second straight night as they continue to prepare for this longanticipated ground attack that. Stuart okay. Thats the action. Now this, President Bidens Approval Rating among democrats has dropped 11 points in the last month. Thats a record low for his presidency. Byron york is with me this morning. Byron, this is because of his support for israel, i guess. This highlights really the split in the Democratic Party, doesnt it . It does, and its particularly problematic for the president among younger democrats who were more likely to be propalestinian, more likely to oppose israel after the hamas attack on israel. So thats a problem for the president , theres no doubt about it. As a matter of fact, it just happens to come on day that a representative not very well known, Dane Phillips from minnesota, is actually going to the declare his candidacy against joe biden, the first what alling call main treatment democratic challenge to President Biden. Stuart in what way does this divided party impose itself on President Bidens policy options . Well, you know, i think one of the extraordinary the things weve seen about Biden White House is that how sort of out of touch the president is with the number of trends in his party. And as far as the mideast is concerned, with a lot of reality. The president came out on wednesday at is the ceremony with the australian Prime Minister and talked about the twostate solution, we must have a twostate solution in israel. And i think a lot of people these days are saying, you know, the idea of israel and a palestinian state coexisting peacefully next door to each other is just dead at the moment. Its just not going to happen. And the president seems to be completely out of it. And this didnt get a lot of attention but, you know, jake sullivan, the president S National Security adviser, wrote an article for Foreign Affairs in which he basically praised the Biden Administration and said it had disarmed conflict in gaza. Unfortunately for him, it was a print article. It went to print before october 7th, so we have it, and theyve since changed a lot of the online version. But it kind of shows you the Biden Administrations completely unprepared for what happened. Stuart i think its a test this weekend, a test of President Bidens support for israel. Because if the land invasion starts, there will be some significant bad publicity coming out of the damage that is done in gaza, and that will put pressure on this president. Yeah. Stuart how strong is his support in defense of the israelis. Last 30 seconds to you, byron. Well, the president got a lot of praise very early after that mass attack on israel for coming out and saying very clearly, look, this was pure evil. Hamas is the bad actor here, israel is the good actor here. It was very clear. But ever since then hes basically tried to the hamstring israel, put weights around a israels ankles in its efforts to fight back against hamas. And i think when with israel actually does undertake this ground action that weve been hearing is imminent for quite a long while, theres going to be a lot of pressure inside the Democratic Party on the president to put more pressure on israel to hold back. Stuart yep. So i think its going to be a very difficult situation for democrats. Stuart tense weekend. Byron york, always appreciate it. I mow we will see you again soon. Thank you, stuart. Stuart next case. What have we got here . Weve got a few months back minnesota congressman dean phillips called on someone, i think he called on 811, to step up anyone, to step up and challenge President Biden for the democratic nomination. Thats dean phillips, whats he doing . Lauren hes primarying joe biden, and he will file to run in New Hampshire today. I love this. He outfitted his campaign bus with the slogan make america affordable again. I thought that was hilarious. Look, hes rich. Hes the former ceo of a Liquor Company and a gelato company. But his point is i cant sit quiet when lights are flashing that we have an emergency next november. He doesnt think that biden can win. Does he have democratic support . Some are actually saying maybe this is a midlife crisis for him and could end his political career because its a long shot, but is he on to to something . I pose the question. Stuart i think hes on to something, because a lot of people dont think this president can be the president for another five years, so hes going to start moving now. I think its time we looked at the markets. Green on the lefthand side of your screen. Not much for the dow and s p, but for the nasdaq, nice gain, 131. A lot of selling yesterday. Kenny poll Kenny Polcari poll carry withs us. Another a blowout for amazon, do you own it, and do you want to own it . No, i own it and and im going to buy more of it. This stock is down almost 18 in the last 56 weeks from the high, all the nervousness and anxiousness in the markets, all the stuff that weve been talking about has created a buying opportunity in amazon. In fact, look, im missing 6 of it this morning because im sitting here talking to you. [laughter] stuart okay. Well, where where do you think its going . Would you like to put a price target on amazon . If. Well, i dont im not an analyst, so i dont put a price target on it but, look, i own it for the long term. Its one of those foundational names that i think should belong in everyones portfolio because it gives you broad exposure to that sector, and its a big megacap name at a time when the markets are nervous. So you really a want to kind of put money in places that are liquid, that are mega cap in the sectors that theyre in. You talk about it a lot with a lot of people, but i own it, ill continue to own it, and ill buy more. Stuart yields, treasury yields, bond yields e haven at elevated levels. A lot of pundits think theyll go higher still. Thats got to be a problem for stocks, right. Its going to be, and i think theyre going to be higher myself. Yes, i think thats going to continue to be a headwind for stocks especially if we see the 10year pierce 5 again, which i think its going to do. Look, i think the feds going to pause next week, thats all clear. I think theyve made that very clear. If they do anything other than that, i think its going to send a different mention. So i think theyre going message. So i think theyre going to stay quiet. But i do think in the months ahead were going to see the 10year bond yo over 5 again, and thats going to cause investors to slow down and not be so ang a shus. The markets can function, it can the, it just needs to regroup and build a base. Stuart thats the world that im living in, kenny. Im in the 5 treasury yield world, and im a very happy guy. Im tempted to buy the dip in big tech but im staying out for now, because weve got a tense weekend coming in the mid if east. Well, and thats the problem. Stuart it is, isnt it . A problem is always on the horizon there. Rates, middle east. Well, because its friday going into the weekend, so its risk off because people dont know what the next 72 hours could bring. Stuart yeah. 5 treasuries, here i come, boys. All right, kenny, see you next week with. Thanks a lot. The manhunt for the mass shooting suspect is still underway in maine. The latest, please. Lauren 80 fbi units are joining, atf, dea, the coast guard, hundreds of officials in this hunt for him on day two. Investigators are also looking into whether card was targeting a specific person. Could it have been his exgirlfriend . He is divorced, he does have a young child. Abc news is reporting he actually wrote a suicide note and addressed it to his young son. Thats from abc. We do know that he has extensive military experience, also firearms training. There are three vehicles registered to him including a boat. That that boat is missing. It means he, with his skill and his resources, he could be anywhere, is and he has all these people trying to find the him and a community that is very scared. He did kill 18 people. Some of them are starting to be identified at this point. These are the five that have been s. And when you hear from them and their families, i should say, its t, its tragic. Stuart it is, indeed. Lauren that this has happened again. Stuart we will keep you updated on the investigation as it comes in. More varney after this. That you and your family need. I promise to put your longterm Financial Wellbeing above any short term transaction. Everyone has a big picture. My job is to help you invest in yours. 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We understand the israelis are launching more airstrikes across the strip in preparation for what is expected to be a large ground offensive into gaza. Today we were in telaviv, israel s second largest city. The pentagon of israel meeting with the countrys defenseinster, and he discussee discussed what a ground operation is expected to look like. And we understand according to from israels defense minister who spoke with us today in person, israel is preparing for months of fighting, not weeks. You can hear the small arms fire behind me, the airstrikes in the distance. Much of that fighting has begun already, but the large scale offensive is not yet underway. It does come as we are following another story out of the middle east. Overnight american f16s targeting a position in Eastern Syria that is used by the iranians to basically support their proxies across the region with ammunition. Those strikes conducted in response to the attacks on american bases and u. S. Forces across region over the past several days. We also know the israelis here along the gaza border, you can hear those explosions and gunfire in the distance, they are conducting mightily raids with both the navy nightly raids with both the navy and also the army on the ground trying to destroy as many cells and positions along the border ahead of that expected invasion. Stuart . Stuart trey, thank you. The u. S. Did indeed carry out airstrikes in syria overnight. This comes after ongoing attacks against our troops over the past week. Former pentagon official brent sadler is with me now. Is bidens response to those attacks against our people, is it Strong Enough . Absolutely not. And this is kind of a return back to bombing empty warehouses that we saw during the obama year. It really signaled at least some agitation on our part, but it really didnt change any calculation on the part of the iranians and the activities through their proxies. Unfortunately, with the time thats been given, the number of attacks, its going to require more forceful ponces to actuallo actually have an effect. Stuart but the president is, presumably, a wider war. Going directly after iranian targets would widen and war. I think at this stage not acting actually has more of a probability of widening the war and iran being compelled, actually, feeling that they could actually enter more directly. And theyre making such threats right now. Just yesterday in new york at the u. N. So actually going after their proxies and thumping them more effectively actually would be much more effective in containing. Stuart thats not in character no. Stuart with this president. Absolutely not. Stuart hes not ayes, sir i in that sense, so its hot going to happen. I agree with you. Stuart so well get attacked more. Unfortunately, it looks like were going to have more of this back and forth, and hopefully were not going to have casualties on our side before we learn this lesson. Stuart the president wants netanyahu to delay because he doesnt want the bad publicity of a demolished gaza a hitting the world . I think its different at the end of the day, its the israelis that are going to the decide the right time to go in. Part of that calculation is, of course, the support from the u. S. And the u. S. Military specifically. And this is one chess piece that still has to get into place, and thats the uss eisenhower in this Carrier Strike group. Once thats in place, it seems like all the pieces are where they need to be, and israel america would have israels back, and well probably see that. Stuart whats the function of a secondary craft Carrier Group . Its a good question exactly where and how its going to position. Now, if that secondary craft carrier goes into the eastern med, i think that clearly gives president more options for sustained aerial operations against hamas in gaza as need be, but it could also be to keep an eye on or to do counterstrikes against hezbollah should they get involved stuart is that Carrier Group definitely going to the eastern mediterranean, or is it going to go into the gulf . Its not clear to me yet. I would have thought we would have seen reports of the crossing through gibraltar, i havent seen that. Stuart why havent we seen that . Because we dont want them to know. Whosoever the enemy is, they know where a Carrier Battle Group is presumably. For the last few years, the navys been practicing up its lost art of having multiple Carrier Strike groups operating and showing up unannounced in places to surprise an enemy. This is most notably for china and its antiaerial capabilities. Stuart we are stretched thinker arent we . If china starts to do something with taiwan whilst were engaged in the middle east absolutely. We have a military two week. Two weak. Stuart youre a hawk, arent you . Im not a hawk, we need to be smarter about russia and china. Stuart brent sadler are, thanks for being with us. Thank you. We know9 that the democrats are split over their support for israel, got that. But, lauren, where do the gop president ial candidates stand . Lauren theyre also split. Ron desantis was on fox friends, and he said, look, its israels war, and he called bidens Foreign Policy rudderless, and hes worried about u. S. Troops in the region. Watch here. Its not clear to me that we have enough troops to really make an a impact with whatever theyre trying to do, and yet we have enough troops to where theyre going to be able to be targets. And so theyre kind of sitting ducks there. I dont know what the strategic objective of them being there is, but this is an example of, i think, bidens rudderless Foreign Policy. Lauren what about the candidates who have Foreign Policy experience or none, like Vivek Ramaswamy . He says give no more money, just support the iron dome. Then you have nikki haley, tons of experience, mike pence and also tim scott, they say full support for whatever israel needs to defeat hamas. Christie says, look, you might have to commit u. S. Troops if necessary. Whats trumps stance . A bit unknown. He says this would not have happened if i were president of the united states. But he didnt give more on what exactly the military should do and if u. S. Troops should be involved in combat there. Stuart okay, got it. Thanks, lauren. Check futures, please. Its friday morning. Were heading to the market in about seven minutes time, thats when it opens. Look at that, nasdaq bouncing a little after the big losses yesterday, up 121. 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But theres no magic involved. dog bark its simply fresh meat and vegetables, with all the nutrients dogs need instead of dried pellets. Just food made for the health of dogs. Delivered in packs portioned for your dog. Its amazing what real food can do. Stuart futures point towards a little bit of green. Up 30 on the dow, but 1000 points up 100 points on the nasdaq. Mark mahaney, youre doing good. Amazon had another blowout report. Last time we talked about the stock, your target price was 190. Are you sticking with that or raising it . Well, we slightly picked it up, u stu. Its t not a dramatic change, but we took it up to 195. Look, weve had big tech report this week. What did we learn . Mixed results, but generally fundamentals got better. Revenue growth acceleration at amazon, meta and google, you had margin expansion. There were a couple of issues along the way, but google with its cloud revenue and meta with its outlook for advertising revenue in the Fourth Quarter that may be a little bit under pressure, but generally the results were good. Probably the cleanest report card belongs to amazon. Stuart whats so special about amazon . What within that that report tells you this things going up some more in. Theres about three or four things. One is that they went out of their way to show that their aws, their cloud business, is going to start showing accelerating revenue growth. They talked about a very large number of deals they closed late in the september quarter. Its a lumpy business, but the lumps seem to be going up for them. Secly, their retail secondly, their retail business, what we all know, that business kind of showed very consistent, slightly accelerating growth. So the demand is there, but its still depressed. Consumer discretionary spend in this country and around the world is still depressed, so theres a reason why youre going to see this deceleration for amazons retail business. And the third maybe the most important thing, profits. You just had record levels of profits out of amazon, 1111 billion in operate 11 billion that were the highest in the companys history. More than that, its sustainable. Youre going to see margins continue to rise. Youre really getting the profit squeeze out of the amazon lemon, if i got that analogy right. The profits, thats what really marrieded. Stuart mattered. Stuart another one for you is meta. Its around a, what, 32 the 94 right now 294 right now, you think its going to 435. In 30 seconds, can you tell me why you think its going to 435 . I think theyll get through the Fourth Quarter turbulence in the ad market. I think they will. And if they dont, then nobody will. And thats related to brand pullback pause. But the rest of the business, you just have 40 operating margin, some of the highest operating margins theyve ever done, accelerating growth story. Theyre clicking on all cylinders and really showing they can deploy a. I. Effectively. Stuart i think youve convinced me to get into amazon. Mark mahaney, have a great weekend. See you next week. All right. Here we go. They pressed that button, i think. Ive got to get a new script. I say this every day. Its 9 30 eastern tile. They lean forward, press the button and the market is open. Away we go. Looks like a slight downside move for the dow in the very, very early going, but well recheck that later. Lets see how they all open, on your screen just underneath the dow sign there, there there you go. Its a split, 5050 just about. 50 up, the other half down. Thats the way it goes right now. The s p 500, whats the result there . Just opened to the upside ever so slightly. 4 not bad, not bad,. 4 gain. The nasdaq composite, wheres that . Its up 1 . It was down a ton yesterday. Lauren still in correction, however. Stuart correct. Lauren down 3 this week. Stuart thanks very much. Finish off my sentences lauren but not today. Stuart would you like to go through big peck . Big tech . Lauren am ason is amazon is surging. You take over. Stuart metathats at 2955. Alphabet with, 12 the 3 123. Microsoft was down a ton yesterday, up 2. Apple, only 167 on apple. Figure that one out. I want to get more on amazon. Youre the one to do it. Give us the highlights. Lauren tripling of your profit, good job, thanks to advertising and their Third Party Seller services. Both of those things carry liar margins. The ceo, andy quaff my, says its going to be a long time before we run out of services to sell to them. Thats encouraging because aws, their cloud, hosts a a. I. And its revenue grows double digits. If aws were a standalone company, it would be 89 billion in annual revenue, the 40th Biggest Company on the s p 500. And thats just a part of amazon. Amazons up 6 today. Stuart yeah. Not a bad gain. Chip makers, look at intel, that thing is surging. Lauren wow. Stuart 8 . Why . Lauren they just add added 11 billion in value because of this. Their numbers were good, and the pc market, pc sales, thats where their business was struggling because the try was struggling, it bottomed. So things look better going forward. The bottom is in. The data center, thats their worry right now for investors although youre not seeing it reflected today. Investors are buying into Pat Gelsingers turnaround attempts, but their data the center is what hosts the a. I. Chips, and nvidia is eating their lunch and everybody elses lunch. So their revenue for that category fell double digits. Stuart i want to see ford motor company, because i understand theyre warning about some problem. Look at that, down 4 . Theyre warning about electric vehicles. Theyve got whats the problem . Im not surprised theyre warning about it. Lauren the customer will not pay a premium for electric vehicles. Theyre admitting that,s and now theyre putting their money where their mouth is. Theyre postponing a 12 million e vexer manufacturing investment. Ev manufacturing investment. The cost of the strike, they say its 1. 3 billion. Factor that cost into the vehicles, labor costs are 900 higher per car that ford makes because of the deal that they struck where the union where the union. 900 added per car when theyre already using losing 36,000 on each ev. The mathematics just dont add up for them right now. Stuart i think the market outside tesla for e verys is in real trouble evs is in real trouble. People are not buying them. Lauren and tesla keeps lowering their prices for market share. I think im okay. Stuart take a break, ill do this one. Chipotle, they did raise prices. They seem to have Pricing Power because the stock is up. By the way, chipotles stock is already up 30 this year. What have you got . Lauren customers keep coming in despite the price. Samestore sales rose by 5 . But they also have a loyalty program. Customers like that. You wouldnt know this, their car nay asaws a da asada, its a limited thing, and then the so ceo said if you look at our lower income diner, theyre holding up and the quote was really well. It was a good report card. Their profits, despite high costs, rose by 22 in the quarter. Stuart not bad. Ill take that. Some big oil names report before the bell. I see chevron down 4 . Lauren i know. Profit missed, 6. 5 billion in profit, a wide miss, and theyre spending more money. Capex over 50 . Ditto for exxon. Its flat because they increased their cash on hand, and hay din id they did increase their dividend, but if you take these two oil giants together, other 15 billion in profits and 110 billion in deals that are expected to close next year, chevron with hess and exxon wit [inaudible] stuart dont tell that to the environmentalists. Then we have Lauren Kitchen appliances. Stuart theyre down 2 . Lauren yeah. Because the consumer is down and not spending as much money. Sales across all of those categories fell and disappointed. Stuart and yet we reported this morning that personal income, spending, spending went up sharply. Lauren yep. 7 . Stuart that was not expected. Lauren look at the gdp report. Stuart now theyre saying the consumers strapped. Doesnt make sense. Lauren the consumers using their credit card, and those balances are adding up. And the Interest Rate on the balances is adding up too. So at what moment does it all come together, and you really feel like you cant get ahead. I think thats how most people feel. Stuart quick check of the big board, were down 60odd points on the dow, 32,700. Do we have the dow win winners on the careen . Yes, we do. Intel, microsoft, cisco, boeing and wall green boots alliance. Got that one. Okay, now the s p 500, the winners there topped by dex come, capital one, intels on the list, juniper networks, Stanley Black and derek. Remember them . Nasdaq winners headed by dex can com, amazon, old dominion freight lines. All right, lets get the important stuff. The yield on the 10year treasury, 8 did i say that . I did. 4. 86 . The price of gold, it hit 2,000 earlier this week, 1993 3 right now. Bitcoin hit 35,000 earlier this week, 34 rgz 11 right now. Oil, close to 90 at the start of the week, 83 a barrel now. Nat gas, i dont check it very often, but it has been going up, and its up today. The average price for a gallon of regular gasoline down 2 cents overnight, 3. 51. And diesel down 1 cent at 4. 49. Coming up, whoa, its not too late to be on the showed today. Dont forget to send in your friday feedback with. I want the good, the bad, the ugly. Email your comments, questions and critiques to varneyviewersfox. Com. Thousand look at this, a fox news oped, wakeup call to donors for these elite uniters. Karol markowitz wrote it, ill ask her what impact will the revenge of the donors actually have. The white house touts Economic Growth, but the boom is coming at a cost to americas financial security. Grady trimble reports after this. Its easy to get lost in investment research. Introducing j. P. Morgan personal advisors. Hey david. Connect with an advisor to create your personalized plan. Lets find the right investments for your goals okay, great. J. P. Morgan wealth management. Hive digital technologies. A leading Bitcoin Miner and gpu cloud operator is building the infrastructure of tomorrow, featuring a robust Growth Strategy that aims to double its mining capacity while accelerating gpuon demand business. Hive digital technologies. Stuart 12 minutes into the trading session, look at the do0 points. The dow is down of 60. Chevron is sharply lower this morning, down a 5. 5 . Chevron is a dow stock. That is saving 55 or 60 points off the dow. So, in other words, without chevron, the dow would be dead flat. The white house wasted no time taking a victory lap after the stronger than expected report of 4. 9 Economic Growth. Im told its not all roses. Grady trimble with us. The problems seem to be were taking on heavy debt, is that correct . Reporter youre right, stu. Its the consumer who proppedded up Economic Growth in the third quarter, or but it is coming at a huge cost to personal finances. Americans are sinking further into debt and having to dip into their savings to keep up with higher prices. Is so take a look at numbers. Credit card can debt surpassed 1 trillion for the First Time Ever last year. Credit Card Companies charged a record 105 billion in the interest, but as you noted, the Biden Administration doesnt seem worried. President biden vowed to build the the economy from the bottom up9 and the middle out, ask thats exactly what were seeing in the data. Reporter that gdp number could be another example of good news is actually bad news. Mortgage rates are already as high as theyve been in more than 20 years, and now the fed could raise rates again before the end of the year. Very hot print. So the idea that theyll be lowering rates anytime soon, forget about it. And top of that, either its going to be much longer at these levels at 5 a. 5 , or more likely in december would be a 25 the basis point rate hike which is now back on the table. Reporter and, stu, im told mr. Wonderful will be on your show later today, so maybe he will have more to say about the fed and what hay might do in december. [laughter] stuart as a matter of fact, youre right. Hes going to be on the show the last hour today, from 11 to 12 noon. Thanks, grady. Take a look at some of the chip makers. We have an analyst who covers these things and who sounds it seems like angelo zeno likes some of these chip stocks. Good to see you again. Thanks for having me. Stuart amazon, a solid report. You have a price target of 39 on intel. Its currently at 36. Make your case. Yeah. So the 12month target price is 39. We have a hold recommendation though, and, you know, in our view there is limit upside given the risk ahead of it. But what we do like here is, you know, clearly the fundamentals have bottomed here in the first half of the year. Typically the stock kind of trends alongside Gross Margins, and the Gross Margins are how starting to recover more quickly than i think the street had anticipated. I think the question now the here is do we continue to see that recovery on pc side of things as we to go into 2024 despite the macro conditions out there. And then on the data center side of things also, we think that looks like its washed up. Inventories look a lot better. They do is have some new products coming out in 2024 which should help the business as well. At the edge of the day, this is all about a manufacturing story for intel and the belief that in 2025 check kick, catch up with the competition. Sue tooth okay. Im a little short on time, so ive got to ask you this real fast. Nvidia, are you still keeping your target price of 6900 a share . 600 a share . Right now its 408. Again, make your case for 600. Really quick on nvidia, this is a name thats really seen a nice pullback here. We are keeping it at the 600 target price. Low 30s pe multiple on a calendar 25 basis which is well below historical averages. We see a number of new products ramping in calendar 24 as well as, you know, them expanding their Addressable Markets in areas like cpus on both the pc and data center side of things. And the Addressable Market expense over the next 510 years is boeing to be absolutely enormous going to be absolutely enormous, so im giving the valuation in a low 20 pe range, the likes of an intel we have about 16 times on a 25 basis, we think the valuation right now is extremely compelling given the opportunitieses ahead. Stuart youve whenned our appetites, thats for sure. Thanks. Look at the 10year treasury yield, please. Thats always important these days. Its up a little bit today, 4. 85, but well shy of 5 that it hit one week ago. What is the treasury secretary saying about the spike in yields . Lauren theyre up because the economy is, oh, so so strong. And the gdp growth that we keep talking about might keep bond yields higher for longer. Completely dismissed recession fears. Like, not soft landing is guaranteed, thats what yellen says. And also deficit fears. I mean, theres a 1. 7 trillion federal budget testify the sit. The cost to deficit. The cost to service that is tremendous. I understand she speaks for the administration, but shes saying you can basically outgrow your deficit. It make no sense. Stuart its a huge deficit, case closed. Thanks, lauren. This weekend i think its a test the how strong is the president s commitment to the defense of israel, how strong is his commitment to countering iranian attacks on our troops . Ill get into that, top of the hour with my take. Sam bankmanfried took the stand the yesterday. He wanted to distance himself from any wrongdoing. He blamed his legal team for the crypto collapse. Were live at the courthouse after this. You cant buy great conversations or moments that matter, but you can invest in them. At t. Rowe price our strategic investing approach can help you build the future you imagine. T. Rowe price, invest with confidence. Teeth sensitivity is so common. It immediately feels like somebodys poking directly on the nerve. I recommend sensodyne. 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[laughter] is sbf is alleging that they oversaw everything, they approved everything to do with this alleged fraud, and yesterday was really interesting because we got a bit of a preview of what he will tell jurors today many terms of content in terms of content as well as his delivery. So yesterday the judge sent the jury away for a rare midtrial hearing to determine if sbf can use key examples in the expected testimony today in front of a jury. In fact, one of the biggest questions is whether the judge will allow him to blame his lawyers. So the defendant claimed ftx counsel approveddal heed da using customer funds, that they even design the policy for autodeleting documents and messages. Prosecution did get sbf to admit that he hired inhouse counsel knowing he had a lady pass and because he felt freed eberg would allow him to take more risk. He was very confident, calm in his answers, but he really struggled on the prosecutions cross, he looked very nervous. I think the most used phrase was im not entirely sure and i cant recall. Now, we are hearing reports that the judge is ruling at this very moment whether those things will be admissible when sbf is expected to appear in front of the jury. The question though becomes does the defense see how their client struggled as a test run for today. Do they decide, hey, we dont like what we saw when he was questioned by the prosecution, maybe better to have him not take the stand. We should have an answer momentarily, stuart, well bring it when we have it. Stuart good stuff. Lawmakers are sounding the alarm on the use of crypto to fund terrorism. Fair enough, but how are they going to stop it . Lauren well, its unclear how much crypto is funding hamas or other terrorist groups. But senator Sherrod Brown is chair of the Senate BankingCommittee Says he is going to find out and cut off whatever there is at the source is. He says crypto platforms dont use the same common sense protections that help keep illicit money out of the traditional financial system. Safeguards like knowing their customers or suspicious trading, transaction reporting. Some Crypto Services and tokens even help users keep their transactions anonymous. Thats not good. So when Law Enforcement attempts to trace or even block a transaction, it becomes like a game of whack a mole, right . Because then you can just see the terrorist or whoever the person is just jump platforms and even change hair names on that platform. So its is hard to do. Stuart i can a see that, sure. Quickly check the markets, please. In business now for, what, 24 minutes on a friday morning. Dows down 88, but a rot rot of that is account for by chevron which is sharply lower, taking 60 points off the dow. The nasdaq is up 79 points. The 10year treasury yield going up a little bit, 4. 85 as we speak. The price of gold still edging away from 2,000 an hundreds, 1993 3 1993. Bitcoin really not doing that much, its at 434,100. Earlier this week it was 35. Two weeks ago it was 30, so there you go. And the price of oil backing off from the 90 a barrel that it hit earlier this week. Youre now at a 83. 47. But ive got to tell you, the price of gasoline is still inching down. Surprise, surprise. Still ahead, americans want to send more aid to israel but oppose putting our boots on the ground. Does pete hegseth, hes a military guy, does he agree with that . Sam bankmanfried blamed the lawyers in his own fraud trial. What does ken oleary say to that kevin oleary say to that . He was an investor. And is it possible that in the next years olympics a biological male will compete in womens swimming . Ill ask none other than riley gaines. The 10 00 hour is next. Trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the awardwinning trading platforms. 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