Consumer prices tomorrow, Producer Prices out about half an hour ago. Heres what we have. In april, prices paid by businesses went up a much bigger than expected 0. 5 . That is the hottest read sense february. Over the last year, Producer Prices went up 32. 2 2. 2 , and thats the highest since april of 2023. A strongen Inflation Report today. Heres the market reaction, subdued. When those numbers first came can out, the market went straight down. Weve recovered a lot. The dow is actually up 20 points, the s p is down a mere 2, and the nasdaq down 40 points, thats it. The 10year treasury yield with, well, thats moved up above no, it just dropped back below, it was just above 4. 5 , now its 4. 49. Virtually unchanged. The 2year treasury, that also came down a hot. Actually, im sorry, it went with up a lot right before when those numbers came out, but now its moderated. Youre at 4. 86. So not its really a muted reaction to the inflation numbers. Bitcoin, 611,000 611,000 and change. Oil, right there at 78. 49. Gas, no change, 3. 611 for regular. Diesel down up one cent at 3. 93. Politics. The president makes a big speech on the economy today. We dont know exactly what hes going to say, but he will probably bring up the tariffs which have now formally rebeen imposed on chinese products like electric vehicleses. He should address inflation because thats the issue thats hurting him with two key constituencies, low income people and young people. Hes scheduled to speak around 12 noon today. Michael cohen takes the stand again in the trump trial. This is the day when trumps lawyers crossexamine him. Watch out for some fireworks. On the show today, Kamala Harris just wants to be one of the guys, so she drops an fbomb and giggles her or way through an interview. The sheriff of lee county in south floridas going to join us. Hes telling new york liberals who head south, go home if they dont change their politics. Big show this tuesday, may 14th, 2024. Varney company is about to begin. Dont stop me now, im having such a good time. Im having a ball stuart get up and go music, isnt it . Were off and running here. Were starting this tuesday with the latest read on inflation if. Of we have the Producer Price report. There you have the numbers on the screen. Take us through it, lauren. Lauren way hotter e than expected. Inflation is sticky. So lets take out the food and energy prices, the volatile prices, and then you have core Producer Prices, and they rose. 5 month over month and 2. 4 yearoveryear. That month over month if number is very hot. So the report gives two clues. One, what are the Profit Margins for retailers and service providers, right . How much are their own costs going up. And then rate cuts. This is hard to justify a rate cut, after a report like this. Stuart say goodbye, surely. Certainly in the near future. Lauren are, thank you very much. David nicholas with us this morning. This Inflation Report doesnt look good for stocks, but the reaction has not been particularly sharp. [no audio] okay, weve got an audio problem. This happens occasionally. We want some comment on the Inflation Report and its impact on the stock market. What i can tell you so far is this Inflation Report was a bit hotter than expected, i dont normally play the expectations game, but weve got to play it this morning. Hold on, weve restored audio with our guest, david nicholas. David, can you can hear me . We cant hear him. Okay. Were moving on. White House Press SecretaryKarine Jeanpierre insisted that young voters are till on President Bidens side still on President Bidens side despite recent policy. Watch this. And the president has stood on many, has stood with Young Americans on many of the issues that you care about. Because you said beyond, beyond whats happening in the middle east. And so when it comes to Climate Change, right, thats something that hes been very clear about and has been the most progressive president on that particular issue. And hes going to continue to do that. Stuart tour charles hurt joins me now. Climate change reels in the young voters or . How about inflation, doesnt that turn off . No, exactly. And just like with inflation, you know, the only thing worse than a president who ushers in the kind of inflation that weve seen is a president who ushers in this kind of inflation and then pretends theyre not doing it and pretends people arent suffering under it. They are, they know it. And whether its and, obviously, were seeing with this polling young people recognize that whatever, you know, Joe Joe Biden might if care about the environment, but hes not doing anything to fix the environment. And whatever hes doing, hes not doing anything to reel in these young voters, and were seeing polls after polls showing shocking swingings. Were talking, like, 30point swing withs away from joe biden to donald trump among voters under 30. And this is something i never if you had predicted this to me two years ago or four years ago, i would have said youre crazy, theres no way this is possible. But were seeing it again and again in polls. Theyre losing young people. And it doesnt help to have the white House Press Secretary sitting up this the saying, oh e, no, no, no, young people love joe biden because of the environment or whatever. Whatever reason she wants to give. Stuart yeah. They dont love him as much as they used to love him, and thats a fact. They clearly dont. And whats more amazing about that too is they do, they are turning to trump. And the degree to which they loathe trump loathed trump four years ago, thats a pretty aa son thishing change there astonishing change there. Stuart it is. Another subject. Vice president Kamala Harris used some, shall we with say is, interesting language when speaking to young people in washington yesterday. Charlie, stop laughing. Watch the tape. Roll it. We have to know that sometimes people will open a door for you and lee it leave it open, sometimes they wont. And you need to kick that [bleep] door down. [laughter] [cheers and applause] excuse my language [laughter] stuart well, yes. [laughter] slight cringe there there. I mean, is she just trying to be one of the guys . Yeah. This is like the dad whose kids having a sleepover and comes down into the batesment with his baseball hat on sideways, his puffy temperature tennis shoes and tries rapping with the kids doing karaoke. Its a sign of desperation, and its like and if you listen to that whole speech, its like, you know, fingernails on a chalkboard listening to her try to do this and fail, by the way. If you know, obviously, the people in that room, you know, that was great. But, you know, anybody watching it outside of that room its and i dont know, maybe, you know, maybe it was as bad as it was on video inside that room. But its a sign of desperation, and i think they realize it, but theyre going to continue lying about their desperation. Stuart charlie hurt, youre just having far too much fun as a political pundit. [laughter] youre just if youre not having fun in politics these days, you dont belong in politics. Stuart i agree entirely. Charlie hurt, youre all right. See you later. Michael cohen returns to the stand today in the trump criminal trial here in new york city. Lauren, what is donald trump saying about cohens testimony lauren thats a trick question. That is a trick question because hes not allowed to comment on witnesses because of the gag order. But he sure slammed the trial. Here is trump from the hallway of the courthouse yesterday. Watch here. This day is truly going to go down as the day of infamy for the new york legal system which is the whole world is laughing now at new yorks weaponized legal system. Watching this unfold in that courtroom as the lawyers really as a lawyer is deeply disturbing. We have a corrupt judge, and we have a judge whos highly conflicted, and hes keeping me from campaigning. Lauren four weeks in court. Not on the campaign trail or having to campaign on the off days. Although i would make the argument that that has worked for him, in his favor. Nonetheless, the prosecutions star witness is Michael Cohen, and guess what . Hes back on the stand this morning, in 20 minutes. Expect fireworks. Today is the crossexamination. Hes not going to appear so composed. He might become unhinged as he gets questioned from trumps attorneys. Stuart pity its not on tv. Lauren i know, right . Stuart guess what . We have now restored an audio connection with david nicholas. Were going to look at the market with him. This Inflation Report, its not good i dont think its good for stocks, and yet the markets not reacting terribly badly. Stuart, youre spot on. The ppi report is showing us that wholesale inflation is still surging, but the market is pausing to see what happens with tomorrows cpi report. And i tell you, a hot cpi report is the worst Case Scenario for this market. My gut tells me we gist have not won this just have not won this war against inflation. If you see gas prices and shelter prices, it is miserable for firsttime home buyers or young family ares trying to start and buy a home. I think the market is not going to be able to push to alltime highs this year unless we get a significant reduction in inflation tomorrow, stuart. I just dont think were going to see it. Stuart i think you can say good to initiation a possibility of rate a cuts in the immediate future, right . The door to a possible rate hik well, i the fed, they dont want to admit it, but the fed does not want to do what it takes to bring inflation under control. They just dont want to do it. Stuart, they got it wrong. They stopped raising rates way too early, and now theyre stuck. So what their hope is if they just do nothing, that the laws of economics will be suspended and inflation will just magically come down births. And were not going by itself. Employment is still strong, were seeing wages continue to go up. This is not good for the fed, so i think inflations more stub stubborn than what the fed wants. Stuart you got it. David nicholas, see you again real soon. Thank you, stuart. Stuart a correspondent at cnn says swing state voters are getting tired of the trump trial. Watch this. As i talk to voters across the country in these battleground states, ark a, many of them arent paying attention at all and are disgusted and sort of tired with this. As of now, its actually helped donald trump. Stuart we will pose the question, is bidens lawfare really working . Biden announced a 100 tariff on chinese electric vehicles even though back in to 19 he called trumps tariffs on china an abuse of policy and said hay dont work. Senator John Barrasso on that next. A ride thats ooler than a limousine. Can you handle the turns, can you run on the lines if you can, baby, then we can go all night. 060 in 3. 55. Baby, you got the keys shut up and drive , tailormade for trader minds. Go deeper with thinkorswim our awardwining trading platforms. Unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. And sharpen your skills with an immersive Online Education crafted just for traders. 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And now President Biden is concerned about the amount of products that chinas dumping on this market, possibly running u. S. Companies out of business. Hes slapping a 25 tariff on steel and aluminum. Hes also adding a 50 tariff on semiconductors in this. You can see 25 tariffs on ev and nonev batteries, tariffs on ship to shore cranes as well as p persian e for a total ppe for a total of 18 billion starting from this year to 2026. So i wanted to know this so in july of 2019, thencandidate biden said the tariffs on china are abusive policy. Has the president changed his mind and now believes tariffs work . So, look, im not im going to be really mindful. We have always had concerns on chinas unfair trade policies. Weve been very clear about that. And the last administration, when they did a trade deal with china, what it did is it failed to increase american exports or boost manufacturing reporter so he now believes tariffs work . Im going to be really mindful and not get ahead of what were about to announce soon and what we have been really, or really clear about is protecting workers, protecting businesses, ask and we have called out chinas unfair trade policies. And so were going to continue to do that. Reporter she did not answer the question. Now, this is the exact same strategy that former President Trump used against the chinese as they were dumping products on the u. S. Market. He had more tariffs on more items though. I try and ask the president today in the rose garden exactly why it took three years to come back around to this strategy. Back to you, stu. Stuart edward, thanks very much, indeed. I should point out that donald trump is now speaking right outside the courthouse here in new york city, and he says he would favor more tariffs on china because china is eating our lunch. Those are his e words. Senator John Barrasso, republican from wyoming, joins me now. Mr. Senator, do you support tariffs on china electric vehicles . Well, stuart, look, this president , joe biden, is desperate ifly trying to look tough on china, and its just not working. Its not going to work because joe biden has already made us so dependent on china for critical minerals, Critical Materials that are used in the electric vehicles. And his environment aleck treatmentists are blocking our ability to get those here in the United States. All of those things play right into chinas hand. Stuart why this president has taken 200 toattacks on American Energy. Every one of those makes chai i that stronger, russia stronger, iran stronger, and they hurt america. Thats whats hurting american jobs. And you just had the spokesperson if from the white house saying, oh, we want to protect jobs. No, they dont. They theyre attacking american jobs when they attack American Energy. Stuart why do you want to end federal tax credits for evs in the United States . The hard working people of wyoming and across america should not be subsidizing fancy, expensive hectic vehicles for rich people. Electric vehicles. These hard working people dont want to buy those vehicles, certainly dont work in my home state of wyoming. The distances are long, the commutes are great distances, they have short battery capacities. If people arent buying these vehicles even with the big subsidies. Stuart, theres a great book and its called the hidden america from coal minors to cowboys, the people that , d all the things that are going up in prices because of the inflation this president is causing. Those people should not be subsidizing expensive vehicles for rich people. No american should do that. Stuart if reelected, would you support donald trump rolling back bidens Green New Deal and all the climate legislation oh, absolutely. Stuart youd just roll the whole thing out is . Absolutely. This obsession with climate that we see from the democrats is hurting our economy. Finish its hurting our ability for Affordable Energy which, of course, affects affordable food. But joe biden is the president of high prices, and people feel it at the gas station, they feel it at the groce Grocery Store and soft of the regulation and the strapping thinghold that this administration is putting on American Energy, American Energy workers. We have it, we have it here in abundance. We do it better environmentally than any place else in the world. Administration doesnt get the fact that you can protect the environment is without punishing the economy. Theyre always trying to punish the economy and hurting the hard working people of america. Stuart how would you fight Climate Change . Well, the reality is that you can do it with innovation. I believe Climate Change is real and man is contributing to it. We do it with innovation. In wyoming we have an integrated Test Center UsingCarbon Dioxide for products that then can be sold, used. Thats the way to deal with it. And we do it better than any place else. If you take a look at what this administrations doing, punish eking our economy, china, india, they are the big ones contributing to Climate Change right now. The amount of Carbon Dioxide coming out of their communities, you could shut down america tomorrow and emissions would continue to grow, go up just based on china and india alone. Stuart got it. Senator John Barrasso, thank you very much for coming back on the show today. Always appreciate it. Hope to see you soon. Thank you, stuart. Stuart yes, sir. Democrats want President Biden to investigate Grocery Stores. [laughter] all right, lauren, what are they looking for . Lauren potential antitrust violations. Potential price manipulation. Let me give you an example. How about investigate investigating the fees that some of the bigger or Companies Pay to the food stores for more shelf space. How come Certain Companies give customers rebates and others dont, and why havent they reduce prices since covid . I actually do want to know that. Nonetheless, high grocery prices undercut the Biden Economic message. They are absolutely desperate to bring the cost of food down, and latest effort is being led by senator Elizabeth Warren stuart oh, i should have known. Lauren shes calling for executive action and a task force to investigate. Stuart oh, thatll work. [laughter] lauren maybe look into the problems why are food prices so high. Weather conditions, labor . If. Stuart socialists will always blame business. Always, always, always. Lauren yep. Stuart thats it. Thank you, lauren are. Check futures, please. The market opens in just a couple of minutes, and right now weve got a mixed picture. Dow up, s p up slightly, the nasdaq down slightly. The opening bell is next. From coal miners to cowboys, so tell me about your heart attack. Our heart attack was. Scary never want to go through that again. But we could. With heart disease, you never know. So we made changes. Green juice. Yeah, not a fan. Diet, exercise. Statins helped. But our ldlc bad cholesterol it was stuck stuck just couldnt lower it enough. And high ldlc meant a real risk of another attack. So i said, lets ask our doctor about repatha. What can i say . Listen to your heart. Repatha plus a statin dramatically lowers ldlc by 63 , and significantly drops the risk of having a heart attack. Do not take repatha if you are allergic to it. Repatha can cause serious allergic reactions. Signs include trouble breathing or swallowing or swelling of the face. Most common side effects include runny nose, sore throat, common cold symptoms, flu or flulike symptoms, back pain, high blood sugar, and redness, pain, or bruising at the injection site. We wont let another heart attack set us back. And neither should you. Listen to your heart. Lower your ldlc and your risk with repatha. Talk to your doctor. Stuart all right. An inconclusive futures market. Dow, is s p up fractionally, nasdaq down 16, thats it. Keith fitz with us morning. Inflation, hotter than expected. Isnt this a negative for stocks, keith . Well, it is ordinarily, but the markets are learning to live with it as long as theres not a big spike, stuart. Traders think we can manage it. Out stouter what about the Consumer Price index tomorrow . If that spike not spikes, but if it edges up, the response on the market be different from today . I think so. Therell be a little more measured downside because traders are going to assume that that means jay powell and his crew are not going to raise or not going to lower rates anytime soon. Stuart well, could they raise rates, do you think . You know, thats boy, weve seen this playbook so many times. Every time they say they wont, they probably will. So im going to just take a deep breath, step back, watch from the peanut gallery e and see what they do. [laughter] stuart im going to put the meme stocks on the screen. This is premarket. Not the 10year treasury. There you go. Theyre all up huge again. Can you explain this, keith . This is the Lottery Ticket mentality that has gripped our markets, and it could not have resurfaced at a more inconvenient or dangerous time, if my mind. Stuart why dangerous . Because the average investor doesnt understand the difference between speculation and investment. This is why casinos exist in gambling capitals around the world, because the consumer thinks they can win even though the house knows they cant. Stuart you dont touch this stuff, do you . Not with a 10foot pole or all the tea e in china, no way. Stuart got it. Microsoft making big strides in europe. What are they doing, and is it going to help the stock price . How cool is this . This is an order of magnitude above anybody elses playbook. Theyve established a 4 billion investment with a macron, it gets the french regulators off their back and in the next three years it builds in a Consumer Base that likes microsoft if products. Its a winwinwin. Stuart its not a huge gain for the stock price though, is it . Not yet, but a couple years from now when suddenly youve got a couple Million People who are using microsoft products every single day spreading across the e. I. In businesses from e. U. In businesses from top to bottom, thats going to be extremely beneficial particularly as a. I. Rolls out. Stuart last one. Walmart if reports thursday. What do you think the numbers will reveal . I think theyre going to reveal a couple interesting things. Were going to see a huge shift in demographics coming into the store for the first time as customers readjust to inflation. Second, big online numbers hard going to point you towards amazons dominance. And finally, i think were going to learn about the character9 of the company. I havent yet owned walmart, but im reevaluating that. If the numbers are really solid, i might make a move. Stuart 60 a share, and might just jump in. Keith, thanks for joining us. Five seconds until the opening of the markets, and they press the button momentarily, and well see how things shape up. Remember, a slightly hotter than expected Producer Price index out this morning. I think were waiting with some nervousness for tomorrows Consumer Price index. The market is open, the dow is up just 7 points, virtually dead flat this morning. The s p 500 also pretty much dead flat, look at that, up. 02 . And the nasdaq composite, im pretty sure thats the same thing, its up its absolutely almost entirely unchanged. Im trying to get this out. Lauren [inaudible] stuart thats right. [laughter] i was expecting a different result after that Producer Price index report because that was strong. I thought the market would be down, but its not. Its up. Big tech, split picture. Alphabet and apple up, the others down. Home depot, that is a dow stock, and it reported this morning before the bell. What do with we have, lauren . If. Lauren stocks down more than 2 . Comparable sales fell for the sixth consecutive quarter, down 2. 8 . Commentary from the ceo is not helping. Theyre seeing consumer softness especially for big ticket items, big projects, and theyre sticking to their fullyear guidance which is for 11 Revenue Growth this year, but you Want Companies to boost their fullyear guy dance, and theyre not doing that. So with this decline, home depot is taking 50 points off the Dow Jones Industrial average. Stuart this is not good because youve got slowing economy, slowing foot traffic in walmart and inflation is rising. Lauren yeah. Will retail sales confirm the slowdown tomorrow, and and will. Cpi confirm the inflation increase tomorrow. How is the Consumer Holding up. Its been years of this dynamic of high prices. Stuart a lot of anxiety. Alibaba, they also a reported first e thing this morning, i think . Lauren down 5. 5 . Profits down 86 . It has six different units, many of them hurt by a cautious consumer in china, so theyre boosting their international push. And in their cloud division, laze arer focused on a. I. Not lifting the stock. Stuart weve got to get back to this, the meme stocks. Huge gains yesterday. Premarket, huge gains again today. Is this just, this roaring kitty, is this thing . The lauren the cats back. They are partying like its 2021 all over again. Look at a game so many the. Gamestop. It has doubled. 60. 38, just 98 today the on top of the 70 plus percent gain yesterday. Why now . Huge differences between 2021 and now. Three years ago we were stuck at home, we were bored. So this group of retail or mostly online traders decided theyre going to stick it to the big guy which was the hedge funds who shorted names, essentially forcing them to buy back with shares at higher prices to coffer. Theyre to cover. Theyre doing it again right now. This all started yesterday, but why . If they have less time on their hands, right in back at work. Arguably, less cash. Can you connect it to the crypto rally that has fizzled . I do not know, but i can tell you the retail army is winning. If you just look at a gamestop, short sellers are set to lose over a billion dollars today alone. Stuart wow. Games they play on wall street. All right, lets move on. Googles Developers Conference kicks off today, i believe. Do they have news on a. A. I. . Lauren well, exactly. Theyre expected to announce a new android operating system and tell us how theyre integrating generative a. I. Across all of their businesses, gmail, maps, chrome, you name it. The announcement is at 1 00 eastern time. But they have to top what we heard from openai yesterday, and that was really cool and really scary. At one point in this presentation openai had a phone, an a. I. On a phone, that a. I. Talking to the other phone a. I. Chat bot to chat bot. Thats just, thats freaky, thats scary stuart but it was an intelligent conversation . Lauren it was an intelligent conversation. I mean, the a. I. Has advanced so much that it is wowing us and scaring us. Whats the need for a human being if the computer can do everything . Stuart and what about human contact . If they chat bots talk to each other, were kind of left out, reason arent we . Lauren yeah, i know. And what about judgment, thats the other thing. Can you train a chat bot to have human judgment . I mean, maybe. Were not there yet stuart were going to have to get used to this. Another company backed by amazon, anthropic, theyre launching their own a. I. Chat bot. What will this one do . Lauren yeah, so its claude. Its across europe. Today a thats the news, i know that companies will pay 30 a month. This is a big deal because its europe, and europe has privacy rules. They have a. I. Rules, first in the world. So theyre actually doing it. They also dont like Big Companies in europe, and since amazon huge company made a 4 billion investment in anthropic, i bet that sparks some sort of antitrust investigation. Stuart those europeans. Now, im looking at heinz, kraft heinz, that would be. Theyre going to sell one of their iconic brands . Lauren oscar mayer stuart really . If. Lauren i know. The wall street journal is reporting theyve tapped bank of america to gauge interest, and they think that business could fetch between 35 billion. Im calling it a shift. Theyre pivoting towards health. But i what about jello, velveeta . Those arent necessarily healthy brands. Stuart thats your opinion. Some of us live on that stuff. [laughter] now, we know that musk lets get to tesla. We know musk laid off his ev charging team. Whats this, is he rehiring the charging team . Lauren i have whiplash are. So days after he fires a reported 500 workers on the charging team, other reports say he wants to rehire many of them. Last week he committed very half a billion dollars this year to charging, but it seems like its this revolving door at the tesla. Theres a report today from electric that the head of the cyber truck, the new, cool vehicle they finally got on the roads, the head of the manufacturing on the cyber truck is out. So is this a positioning by musk to be less of a Manufacturing Company and more of an Autonomous Driving Company . No idea. Stuart i have no if idea. Lauren stocks up 3 . Stuart well, that tells the story, 1177 on tesla right now. 177. Walmart, theyre telling executives and Remote Workers, hey, youve got to get back in the office. Lauren good luck with that. Thats what i have to say. I read it as an ultimatum. A reported hundreds of job cuts and the company is saying, well, not only do we want Remote Workers to come back in on a hybrid schedule, we want you to come into a corporate hub, meaning you have to relocate to bentonville, northern california, hoboken. Stuart or wherever. [laughter] lauren look, i get its very important that you have that inperson interaction, but its been four years of people working from home. They got used to that high style. Stuart and now they might have to move to keep their job. Lauren thats why its an ultimatum. Hundreds of job cuts and we need you to move. Stuart thats quite an announcement, isnt it . All right, lets move on. Heres what we have coming up on the show. Van jones, hes at cnn, he says young people are miserable under President Biden. Roll it. With young people are upset, and its not just the situation in gaza. The economic prospects for browning people are miserable. Stuart sean duffy will get into that one, young people miserable under biden. A very in florida has a message for democrats fleeing blue states and heading south. Go back, he says. The sheriff is on the show in the 1 11 00 hour. Michael cohen takes the stand again today in trumps new york criminal trial, but does cohens testimony help or hurt the prosecution . Former acting attorney general Matthew Whitaker on that next. What does a good Investment Opportunity look like . At t. Rowe price we let curiosity light the way. Asking Smart Questions about opportunities like clean water. And what promising new treatment advances can make a new tomorrow possible. Better questions. Better outcomes. We are People Living with afib. And over 400,000 of us have left blood thinners behind. For life. Weve cut our stroke risk. And said goodbye to our bleeding worry with the watchman implant. We may be getting older. But weve never squeezed more out of life. And we are just getting started. Join us at watchman. Com. Watchman. 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Michael cohen is back on the stand this morning. Eric shawn outside the courthouse as usual. All right, what can we expect if him today, eric . Reporter hi, stu. Well, we can expect a lot are. Michael cohen right now back in the courtroom, hasnt taken the stand yet, judge has a sidebar talking about some issues with the lawyers. The former president not yet in the courtroom even though mr. Trump is the criminal defendant here, mic Michael Cohen is going to be on trial later today. Todd blanche in his crossexamination expected to have a withering cross on Michael Cohen, trying to por today him as a liar who in the past lied under oath, so why should the jury believe his claims now about his former boss . Yesterday during his testimony he said that it was mr. Trump who was behind the whole scheme to falsify the Business Records and hide Stormy Daniels story of having sex with him to protect his president ial bid in 2016. Blanche expected to launch that assault later on today on his deception and duplicity, undermining the claims that cohen has given to this jury that have bolstered the prosecution case can. Cohen told the jury when stormy came forward with the story in the final, closing days of the race trump reabouted by saying, quote reacted by saying, this is a disaster, this is a total disaster. Women are going to hate me. This is going to be a disaster for the campaign. Trump told him toly arrange the deal with former Trump Organization cfo alan weisel burg who happens on the in jail now for committing perjury in the last trump civil trial. Cohen said trump ordered him to, quote, just pay it. Theres no reason to keep this out there, do it. Today cohen is expected to bring the jury into his meeting in the oval office with the new president in february 2017. Thats where trump allegedly agreed to reimburse cohen with these trump checks you see, some of the checks from the president s personal checking account. Cohen is expected to detail the conversations he had with trump in the oval office where trump supposedly said, yes, that he would reimburse cohen, he had nothing to worry ab. Cohen yesterday saying, quote, everything required mr. Trumps signoff. On top of that, i wanted my money back. Before we get to that crossexamination, well also hear a lot more from some Top Republican officials. Today House Speaker mike johnson is expected to be here, sam vivek ramaswamy, former president ial candidate, and we just saw the north dakota governor, doug burgum, whos on the short list, were told, for a possible Vice President ial slot. He is in the courtroom. Quite a highpowered day yet again here at manhattan criminal touter. Court. Stu, back to you. Stuart got it. Matthew whit kerr joins me now. Is cohen a credible witness . Well, hes not, and hes proven over the years to be very inconsistent with his recollection and his recalling of certain important facts. Obviously, his testimony yesterday was crafted to try to support the prosecutions theory of this case. I think its fallen flat especially e when crossexamination starts. But, you know, this case is really not only a travel the city of justice, its bad for the american system of jus justice. It think i think it undermines a lot of americans faith in the jus fit system and its really anti Justice System and its anticonstitutional based on how theyre pursuing this, based on one convicted perjurer and his word versus the truth, quite frankly. Stu Stuart Jonathan turley, distinguished law professor and a contributor to fox, he says there should be a directed verdict. Im not quite sure what that means, but im pupilling turley think finish presuming turley thinks the judge should say yes or no, guilty or not guilty. Whats this about in. Yep. Well, stuart, ive tried cases both as a prosecutor and defense lawyer, and this case certainly is one that a directed verdict is appropriate. Its where at the close of the governments case e in chief, the defense moves to say that no matter what the facts are that have been demonstrated, they do not prove a crime on. Relief can be. Branted. Granted. There can be no conviction based on the set of facts. I think thats a great argument. I think Jonathan Turley is absolutely right. And i think if this judge was fair, unbiased, he would grant that directed verdict are. Stuart got it. One more for you. The hosts of the view have finally realized that trumps criminal trial could actually be helping trump. Watch this. I would say when you say the Biden Campaign has to get more active, i actually blame the media slightly. We talked a lot about how i dont think people are able to watch this trump trial 24 7, like all the time last week our incumbent president stepped in to do a speech on antisemitism. They cut to the speech, came back and talked about donald trump. So whats happening here is donald trump is donald trumping us. Its deja vu from 2016, and the coverage, the irony is the people covering that news thinks theyre getting one up on donald trump while theyre handing him a lot of votes because of the coverage. Its ridiculous. Stuart okay. Do you agree with that, matt . Does the trial help trump . Well, the polls would suggest that donald trump is leading in almost all of the competitive swing states. You know, everywhere i go donald trump is very popular and people want to support him and however they can. I get, you know, requests all the time folks that want to go to the courthouse and go see the trial and see kind of how bad it is and how unfair it has been for President Trump. So, absolutely, this trial is helping President Trump, and i think the American People have discounted it as we head into november if as important in their lives. And it may be the only trial we see between now and then. Stuart okay. Matthew whitaker, thanks very much for being with us. I know well see you again a lot soon. Thank you, stuart. Stuart sure thing. Dont forget to check out the fox business rundown podcast. The first episodes will premiere next monday, may 20th. You get new episodes monday and friday, episodes available on foxbusinesspodcasts. Com. Apple, spotify or wherever you download your favorite podcasts. Still ahead, the Biden Campaign worried about the New York Times. And the New York Times is worried about the Biden Campaign. Theyre both worried about the same thing, biden might lose and trump might win. Thats my take, top of the11 00 hour. Nelly bowles, a voter for Hillary Clinton in 2016, she is a former New York Times reporter, she lives in california. She began to question whether progress i policies she knew and loved actually work. What she found out changed her outlook completely. Bowles is here, and shes next. Turn, turn, turn. There is a season, turn, turn, turn and a time to every purpose under heaven in any business, you ride the line between numbers and people. Whats right for the business and whats best for everyone who depends on it. Solving todays challenges while creating future opportunities. It takes balance. Cla cpas, consultants, and wealth advisors. Well get you there. My psoriasis was all over. Then psoriatic arthritis. Who knew they could be connected . For me, cosentyx works on both. Cosentyx helps real people find clear skin. And in psoriatic arthritis, can mean less joint pain, and help stop further joint damage. Serious allergic reactions, severe skin reactions that look like eczema, and increased risk of infections some fatal have occurred. Tell your doctor if you have an infection or symptoms, had a vaccine or plan to or if ibd symptoms develop or worsen. See me the stock market does. In fact, most people dont find them all that exciting. But, if youre looking for the potential for consistent income thats federally taxfree. Now is an excellent time to consider Municipal Bonds from hennion walsh. If you have at least 10,000 to invest, call and talk with one of our bond specialists at 18002173217. Well send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. Hennion walsh has specialized in fixed income and Growth Solutions for 30 years, and offers highquality Municipal Bonds from across the country. They provide the potential for regular income are federally taxfree and have historically low risk. Call today to request your free bond guide. 18002173217. Thats 18002173217. Stuart i want to bring you up to speed on one of the emerging stories of the day, the continuing gains for meme stocks. Right now weve got gamestop halted, amc halted. All of the meme stocks are way up again today just as they were yesterday. Well keep you posted throughout the show on the meme stocks. My next guest is a former reporter at the New York Times and a hillary voter who currently lives in california. She came out with a new book called morning after the lev pollution revolution. She joins me now here in new york city. You asked if progressive policies actually worked. You asked people of california, hey, do these progressive policies actually work . [laughter] what was the response when you asked that question . The response, well, first of all, obviously, you call you a fascist. That they call you a fascist. Thats the most important first response. I kind of do it in satire and humor, so that gets you this extra trouble. Stuart extra trouble the. [laughter] how could it be worse . Worse than fascist . It e gets worse. You get to further steps along in the insult game. Yeah, im from california i love california. Its the most, its such a rich state, right . Its got all the money, all the smarts, all the beauty. But youre a fool if you dont look around and see stuart well, how many progressives do actually look around and answer your question i think increasingly more. I think increasingly more people are starting to look around and see some of the humor and absurdity of whats happening around us. Stuart whats the reaction to you . [laughter] the a action to me stuart you live california. Yeah. I mean, well, first of all, its a ive carved out a nice little space for myself within the space, thankfully. Ive grown up there, so i have my childhood friends who havent disavowed me [laughter] stuart you have childhood friends who have not yet disavowed you. Its come to that . Lauren youre done. Yeah, for showing up on fox. [laughter] in the book what i try to capture is some of the comedy of it. So youve got the homeless advocates who are somehow getting rich. You have the District Attorney of San Francisco who is arguing against prosecuting crime, against prosecuting drug dealers. I mean, saying that we should think of them as victims. We have a school board fighting to keep the schools closed. These are funny things stuart and im going to read your book, if you give me a free copy. Nelly bowles, thank you so much for joining me. Thank you so much for having me on. Stuart okay, folks, there will be more varney after this. The future is not just going to happen. You have to make it. And if you want a successful business,. A future where you grew a dream into a reality. Its waiting for you. Mere minutes away. The future is nothing but power and its all yours. The all new godaddy airo. Get your Business Online in minutes with the power of ai. Daughter hey, dad. Dad hey, sweetheart. Daughter what are you doing . Dad im gonna clean the fence. Daughter its a lot of fence. Dad you wanna help me . Dad aim at the wall, but get closer. Daughter gasps what the . daughter alright. Dad side to side. When you work with someone who knows a lot and cares even more. You can do this. Youre unstoppable. Wow. Are you kidding me . You can do this. At truist, we believe the same is true for banking. Stuart tenuous connection, Say Something. We are waiting for the president to Say Something on the economy in a couple of hours time