Transcripts For FBC Varney 20240704 : comparemela.com

Points, desantis still second but hes down 6. Third, 16, his up next. 44 went with biden, 41 with trump. That slim lead is within the margin for error. Georgia, the Fulton County da wants to put donald trump on trial on march 4th, 2024, that is the day before super tuesday when it doesnt states hold primaries. Trump goes into a guaranteed chaotic trial the day before what may be the deciding primaries for the president election. In my opinion thats a delivered intrusion of a politicized judiciary. Stocks took a hit after the Federal Reserve hinted at more rate hikes to come. The dallas morning up 45, s p up 16, nasdaq up 65 lose this is what has so many investors worried, slowly Rising Interest Rates, the yield on the 10 year is about 41 4 . The two year yielding 5 , it is for 94. I will quote bitcoin because there is some movement. It has dropped below 29,000. Gas, no change, 3. 87 is your average up 0. 31, look at diesel, up another one sent overnight, 4. 34 the average up a whopping 0. 50 from last month. On the show today, the childrens crusade in montana. 14 youngsters take the state to court and win. They say they were damaged by Climate Change in montanas energy policies. Among their complaints, wildfires affected their soccer and climate disruption her Nordic Skiing and we will follow the rise of ozempic to. He will take on any issue and has an energy level in sharp contrast with bidens say nothing basement strategy. Could he be trumps Vice President. Thursday august seventeenth, 6 days to the 17, 6 days to the fox debate. Varney and company is about to begin. Lifting ozempic in higher. Stuart the song is higher and higher and higher and higher, you are right, we are going to get to that. He is getting higher. Lets get to those fox polls, trump is way out front. All right, take us to ozempic team. Lauren he doubled his support, up to 11 from 5 in june. Is just behind ron desantis who has 16 support and donald trump, 52 . Among trump voters look at this. Up to 16s support is up from 0 in march, to 22 now while desantis is down 15 points. Eventually could he get a nickname from donald trump . I say yes. I say Vice President. Stuart good start. Lets bring in mike huckabee, former governor of the great state of arkansas. We know how you feel about trump but what do you think about ozempic tinas Vice President . I think hes a terrific choice which im really impressed with him. Hes the most articulate person from either party. Hes able to deal with any issue tossed at him and do it intelligently, thoughtfully and compassionately. Hes he is the whole package in so many ways and there are a lot of things we are yet to uncover and to know about ozempic teen but i like him. And he is running a brilliant campaign, hes not going after donald trump, he standing with trump on all these legal issues which i think is an incredibly smart player so hes not alienating the trump base. At the same time hes demonstrating a level of independence, stroke of genius in my view. Stuart lets get to the head to head, trump is leading among the republicans but he trails biden in this head to head matchup, trails by three points. Every bit of news since donald trump is indicted 91 times, we are not hearing anything about President Bidens influence peddling and the 20 million he has gotten from foreign governments and how much he is entangled. He lied about it when he said no idea anything about his son. Hes had dinners, i dont think they just talked about the weather. Right now the American Public hears negative stories about donald trump. They didnt hear any of those negative stories about President Biden. Im amazed it is as close as it is given that kind of unbalanced coverage. Stuart do you think trump will be tempted to get into the debate next week . I cant see him sitting on the sidelines. Surely he will be tempted to jump in. I dont know. Theres really no reason he would go because its not like he has to go and tell everybody who he is, Everybody Knows who he is. If he shows up on on the debate stage becomes the target and then youve got guys who are not polling well taking cheap shots at him all night long so i am not sure what advantage there is other than just to say that he went. He can stage his own rally that night and probably get more eyeballs tuned to him. Who knows. Stuart great to have you on the show, thanks for being here. Fulton County District attorney fanny willis wants trumps trial to begin on march 4th, the day before supertuesday. Lauren that is a request. Many legal experts on both sides say to have 19 defendants ready in just 6 months from now when three of the 19 have already asked to move their case from state to federal court, come on, including trumps chief of staff mark meadows so lets just say the date is march 4th, the very next day americans in 15 states including california and texas go to the polls to cast their vote for the republican nomination. The da and Fulton County says march 4th doesnt conflict with these other trials. March 26th, may 20th, the documents case, those are the suggested date for other trials. At march fourth 2 it, who cares when supertuesday is. It is conflict and with everything. Stuart deliberately the day before supertuesday. We better get to the markets. Fortunately adam johnson is sitting next to me covering the story for the entire hour. The fed suggests more rate hikes still to come. Thats a problem for investors. Has a growth investor, as rates go up you have to discount future earnings pushing stock prices down. That is why the nasdaq has gone from being up 38 on the year to 28 just in the past two weeks. This concern that rate hikes arent done and it weighs on all of us. Stuart theres always a correlation between Rising Interest Rates especially in the shortterm, higher than longterm. A correlation between that and recession. Are we pointing towards a recession . My own view is we are not but i will tell you there are a lot of people who think i am misguided in saying that because as you point out, the shortterm rate is higher than the longterm rate which is crazy. Imagine i need a loan and you say i will give you a loan for 10 but i will give you a loan through next year for 5 . It doesnt make sense but what that does is it tells you when rates are so much higher, there is stress in the system and people are stressed and concerned that there is still a recession. I dont think so because gdp is growing, unemployment is as strong as it has ever been. People have money, they are spending money. That is all very good, corporate earnings are better than feared. I dont think theres a recession and there are a number of fed officials who ratcheted back. Stuart the stock market is kind of stalled . Jay powell speaks in jackson hole. One year ago he gave the pain speech, higher rates will inflict pain on the stock market, pain on households, pain on businesses, where has that pain been . Why does he say that this time around . It is out there. This may sound funny to some of our viewers but theres this thing called the friend fund a futures market, theres an oil futures market, cattle futures market, fed fund futures too, if you look at the differences between yesterday and today, when minutes come out from the fed, they went from 0 chance of a rate hike in the fall to a 30 chance of a rate hike in the fall. I would also add that the chance of a rate decrease by First Quarter of next year is 75 . One more and then done or no more and we are done . Stuart as of this morning we dont have that much movement, slight upside move to the dow, s p and nasdaq and that is it. Having been down yesterday i will take it. Stuart dont know how we will close it. Stay with me for the hour. A senior biden official blames the wildfires in hawaii on Climate Change. Roll tape. To stop these disasters from getting worse we have to cut the Carbon Pollution spiking the Climate Crisis and thats what the Inflation Reduction Act is all about. Stuart that was john podesta. Didnt he have something to do with hillarys campaign in 2016, the steel bossier et cetera . We will take his word on Climate Crisis. Next case, touting the remarkable accomplishments of the Inflation Reduction Act, nancy pelosi had to ask for applause. We will show you what happened. 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. With a majority of my patience with sensitivity, i see irritated gums and weak enamel. Sensodyne sensitivity gum enamel relieves sensitivity, helps restore gum health, and rehardens enamel. Im a big advocate of recommending things that i know work. I dont want you to move. Im gonna miss you so much. You realize well have internet waiting for us at the new place, right . Oh, we know. We just like making a scene. Transferring your services has never been easier. Get connected on the day of your move with the xfinity app. Can i sleep over at your new place . Can katie sleep over tonight . Sure, honey this generation is so dramatic move with the xfinity 10g network. aidyl hi, im aidyl, and i lost 90 pounds on golo. I struggled with weight loss and weight gain my entire life. With all the yoyo dieting i did in the past, i would lose 20, 30, 50 pounds just to gain them over and over again. Thanks to golo, ive been able to steadily go down the sizes in my closet and keep the weight off. For the first time in forever, i feel in control. announcer change your life at golo. Com. Thats golo. Com. Stuart strong selloff yesterday. Modest gain in the ground today, nasdaq up 50 right before the opening bell. Top contenders for 2024, under multiple investigations, trump is facing four indictments and there are probes into President Biden and his son, they continue to Mark Meredith at the white house, no leaf blower today. How do voters feel about all these ongoing investigations . From wherever you want me to be voters are getting a chance to weigh in on the latest developers not only of the former president but first son hunter biden. There was a special counsel appointed to oversee the case, this could drag on for months if not years, we got a snapshot of what people think about the case, fox news asking people what they think about the charges and ongoing case against hunter biden, 50 believe hunter biden did do something illegal. s numbers are up sharply from earlier this year. Only 8 of people say nothing seriously wrong occurred. Until recently the details of the case against hunter were kept under wraps because the investigation was ongoing, hunter was going to plead guilty last month, failure to pay taxes but the deal fell apart after federal judge raised questions about the circumstances surrounding the plea deal, not surprisingly a polling shows political leanings have a big part of how people feel about this was only 90 of democrats feel something illegal happened compared to republicans who feel the first son should be prosecuted. Republicans outraged over attorney general merrick garlands decision to appoint david wise, us attorney overseeing the hunter case as special counsel is republicans say they have plenty of questions about not only hunter but any possible benefits President Biden may have received from his sons overseas business dealings. The American People need to know whether the president is crooked or not. Theres an election coming, he would want his name cleared if anybody would, i would think. Reporter the white house continues to brush off questions about the first son or any talk about impeachment inquiry being launched in the next couple weeks but until Congress Gets back from summer recess we wont no what the next steps to take in the leaf blower is not going so right on cue. Stuart absolutely perfect, well done, see you again soon. The Fulton County da wants trumps trial to start on march 4th, the day before supertuesday. Former acting attorney general Matthew Whitaker joins me now. I think this is deliberate, sticking trump with a trial right before very important primary day and you know it will be a i think it is delivered and political interference, thats my opinion, what say you . Great minds think alike. What is happening is not only supertuesday but it is going to decide the election. 15 states plus American Samoa have their primaries that day and the trial is scheduled to start the day before, preparing for that trial will take weeks and the trial will take if not months, several months. What is happening is this weaponization of the criminal Justice System against donald trump and other centerright and conservative people, candidates, probably the biggest challenge we face as a society, the number one question i get asked in iowa, how do we get it back . How do we restore truth, honesty to the Justice System, it will take a lot of work. Stuart in the next 18 months as we run up to the election and go through four trials, does trump have freespeech . Or has his speech been criminalized . You had one judge try to place a little bit of a restriction on his ability to speak freely, thats going to continue to twist and turn. As a political candidate especially candidate for president of the United States there should be an enhanced ability to speak on these matters and defend himself against accusations. I dont think just to be contrary and i dont think these trials are going to happen as soon as they are scheduled. The prosecutor controls when a case is brought and the defendant controls when the trial is going to happen. I will expect there will be a series of extensions that maybe pushes these at least beyond the primary season, maybe beyond the convention and possibly beyond the election of 2,024. Stuart that would change things. Thank you for being with us. Always appreciate it, thank you very much. Mike pence has broken his silence on the georgia indictment. Lauren he said trump is presumed innocent and the election was not stolen. I said i hoped the judgment about those days would be the left to the American People into history. First principles are these, no one is above the law. The president and all those implicated are entitled to the perception of business. The Georgia Election was not stolen, and i had no right to overturn the election on january 6th. Lauren hes leaning into his role on january 6th that upset many of the trump base that mike pence will need if you wants to enhance. Stuart why is a federal judge in choosing elon musk of cozying up to donald trump. Lauren this was related to jack smiths Election Fraud case. Prosecutors issued a search warrant back in february to twitter for trumps account. Twitter delayed, they eventually handed it over and the judge questioned why the delay and just yesterday the transcript of that hearing was released and the judge said this. Quote, twitter has had quite some time to comply with the warrant and have everything prepared to turn over so im a little bit concerned about where we are. Is it because the ceo, elon musk, wants to cozy up with the former president , and that is why you are here . There is a back and forth about issues like First Amendment rights, executive privilege. Eventually twitter complied but that was the comment from the judge. Of the when i have no idea whether elon musk cozies up to trump or supports trump or not. I think theres movement. Any ceo has multiple jobs to do, one of which is to be on the right side of government, and people in position of power. If he were trying to cozy up to trump i couldnt blame him but he should also be trying to cozy up to President Biden as well. We one biden keeps him out of the Auto Industry meetings on the grounds that does that is not unionized and doesnt support unions. Lets move on and check futures, thursday morning and i see some green but not a lot. We were down sharply yesterday. Very small rebound as of this morning. The opening bell is next. Stuart the market opens in a couple minutes and now ive got walmart at 159. 68 a share up a mere quarter of one . I thought the walmart report this morning was pretty strong. What does it tell us about consumers . Tells you about walmart. I consider them the top 3 greatest companies are created, the fact they can grow sales 5 plus when you do 600 billion in revenue is amazing. I think the consumer is okay but two things i watch that are worrying the heck out of me as Savings Rates have plunged and credit card usage is at a record high and Interest Rate on credit cards has spiked in the last year and i believe that is something that has to be watched. Stuart the market doesnt look as solid as it was maybe 2 or 3 or 4 weeks ago. What do you think . The fundamentals have deteriorated . Higher Interest Rates and higher oil prices, cost of capital and cost of energy, that will do the trick, combined with valuation still freezing at these levels and that is where you get a drop, and adam johnson said it best, when Interest Rates go up valuations come down to a certain extent and you are seeing it. I always ask myself little questions, why is citigroup at a new yearly closing low from one Silicon Valley bank debacle hit so im worried about the banks in here, something is up. We know commercial real estate is an issue it may be these Fulton County<\/a> da wants to put donald trump on trial on march 4th, 2024, that is the day before super tuesday when it doesnt states hold primaries. Trump goes into a guaranteed chaotic trial the day before what may be the deciding primaries for the president election. In my opinion thats a delivered intrusion of a politicized judiciary. Stocks took a hit after the Federal Reserve<\/a> hinted at more rate hikes to come. The dallas morning up 45, s p up 16, nasdaq up 65 lose this is what has so many investors worried, slowly Rising Interest Rates<\/a>, the yield on the 10 year is about 41 4 . The two year yielding 5 , it is for 94. I will quote bitcoin because there is some movement. It has dropped below 29,000. Gas, no change, 3. 87 is your average up 0. 31, look at diesel, up another one sent overnight, 4. 34 the average up a whopping 0. 50 from last month. On the show today, the childrens crusade in montana. 14 youngsters take the state to court and win. They say they were damaged by Climate Change<\/a> in montanas energy policies. Among their complaints, wildfires affected their soccer and climate disruption her Nordic Skiing<\/a> and we will follow the rise of ozempic to. He will take on any issue and has an energy level in sharp contrast with bidens say nothing basement strategy. Could he be trumps Vice President<\/a>. Thursday august seventeenth, 6 days to the 17, 6 days to the fox debate. Varney and company is about to begin. Lifting ozempic in higher. Stuart the song is higher and higher and higher and higher, you are right, we are going to get to that. He is getting higher. Lets get to those fox polls, trump is way out front. All right, take us to ozempic team. Lauren he doubled his support, up to 11 from 5 in june. Is just behind ron desantis who has 16 support and donald trump, 52 . Among trump voters look at this. Up to 16s support is up from 0 in march, to 22 now while desantis is down 15 points. Eventually could he get a nickname from donald trump . I say yes. I say Vice President<\/a>. Stuart good start. Lets bring in mike huckabee, former governor of the great state of arkansas. We know how you feel about trump but what do you think about ozempic tinas Vice President<\/a> . I think hes a terrific choice which im really impressed with him. Hes the most articulate person from either party. Hes able to deal with any issue tossed at him and do it intelligently, thoughtfully and compassionately. Hes he is the whole package in so many ways and there are a lot of things we are yet to uncover and to know about ozempic teen but i like him. And he is running a brilliant campaign, hes not going after donald trump, he standing with trump on all these legal issues which i think is an incredibly smart player so hes not alienating the trump base. At the same time hes demonstrating a level of independence, stroke of genius in my view. Stuart lets get to the head to head, trump is leading among the republicans but he trails biden in this head to head matchup, trails by three points. Every bit of news since donald trump is indicted 91 times, we are not hearing anything about President Biden<\/a>s influence peddling and the 20 million he has gotten from foreign governments and how much he is entangled. He lied about it when he said no idea anything about his son. Hes had dinners, i dont think they just talked about the weather. Right now the American Public<\/a> hears negative stories about donald trump. They didnt hear any of those negative stories about President Biden<\/a>. Im amazed it is as close as it is given that kind of unbalanced coverage. Stuart do you think trump will be tempted to get into the debate next week . I cant see him sitting on the sidelines. Surely he will be tempted to jump in. I dont know. Theres really no reason he would go because its not like he has to go and tell everybody who he is, Everybody Knows<\/a> who he is. If he shows up on on the debate stage becomes the target and then youve got guys who are not polling well taking cheap shots at him all night long so i am not sure what advantage there is other than just to say that he went. He can stage his own rally that night and probably get more eyeballs tuned to him. Who knows. Stuart great to have you on the show, thanks for being here. Fulton County District<\/a> attorney fanny willis wants trumps trial to begin on march 4th, the day before supertuesday. Lauren that is a request. Many legal experts on both sides say to have 19 defendants ready in just 6 months from now when three of the 19 have already asked to move their case from state to federal court, come on, including trumps chief of staff mark meadows so lets just say the date is march 4th, the very next day americans in 15 states including california and texas go to the polls to cast their vote for the republican nomination. The da and Fulton County<\/a> says march 4th doesnt conflict with these other trials. March 26th, may 20th, the documents case, those are the suggested date for other trials. At march fourth 2 it, who cares when supertuesday is. It is conflict and with everything. Stuart deliberately the day before supertuesday. We better get to the markets. Fortunately adam johnson is sitting next to me covering the story for the entire hour. The fed suggests more rate hikes still to come. Thats a problem for investors. Has a growth investor, as rates go up you have to discount future earnings pushing stock prices down. That is why the nasdaq has gone from being up 38 on the year to 28 just in the past two weeks. This concern that rate hikes arent done and it weighs on all of us. Stuart theres always a correlation between Rising Interest Rates<\/a> especially in the shortterm, higher than longterm. A correlation between that and recession. Are we pointing towards a recession . My own view is we are not but i will tell you there are a lot of people who think i am misguided in saying that because as you point out, the shortterm rate is higher than the longterm rate which is crazy. Imagine i need a loan and you say i will give you a loan for 10 but i will give you a loan through next year for 5 . It doesnt make sense but what that does is it tells you when rates are so much higher, there is stress in the system and people are stressed and concerned that there is still a recession. I dont think so because gdp is growing, unemployment is as strong as it has ever been. People have money, they are spending money. That is all very good, corporate earnings are better than feared. I dont think theres a recession and there are a number of fed officials who ratcheted back. Stuart the stock market is kind of stalled . Jay powell speaks in jackson hole. One year ago he gave the pain speech, higher rates will inflict pain on the stock market, pain on households, pain on businesses, where has that pain been . Why does he say that this time around . It is out there. This may sound funny to some of our viewers but theres this thing called the friend fund a futures market, theres an oil futures market, cattle futures market, fed fund futures too, if you look at the differences between yesterday and today, when minutes come out from the fed, they went from 0 chance of a rate hike in the fall to a 30 chance of a rate hike in the fall. I would also add that the chance of a rate decrease by First Quarter<\/a> of next year is 75 . One more and then done or no more and we are done . Stuart as of this morning we dont have that much movement, slight upside move to the dow, s p and nasdaq and that is it. Having been down yesterday i will take it. Stuart dont know how we will close it. Stay with me for the hour. A senior biden official blames the wildfires in hawaii on Climate Change<\/a>. Roll tape. To stop these disasters from getting worse we have to cut the Carbon Pollution<\/a> spiking the Climate Crisis<\/a> and thats what the Inflation Reduction Act<\/a> is all about. Stuart that was john podesta. Didnt he have something to do with hillarys campaign in 2016, the steel bossier et cetera . We will take his word on Climate Crisis<\/a>. Next case, touting the remarkable accomplishments of the Inflation Reduction Act<\/a>, nancy pelosi had to ask for applause. We will show you what happened. 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. With a majority of my patience with sensitivity, i see irritated gums and weak enamel. Sensodyne sensitivity gum enamel relieves sensitivity, helps restore gum health, and rehardens enamel. Im a big advocate of recommending things that i know work. I dont want you to move. Im gonna miss you so much. You realize well have internet waiting for us at the new place, right . Oh, we know. We just like making a scene. Transferring your services has never been easier. Get connected on the day of your move with the xfinity app. Can i sleep over at your new place . Can katie sleep over tonight . Sure, honey this generation is so dramatic move with the xfinity 10g network. aidyl hi, im aidyl, and i lost 90 pounds on golo. I struggled with weight loss and weight gain my entire life. With all the yoyo dieting i did in the past, i would lose 20, 30, 50 pounds just to gain them over and over again. Thanks to golo, ive been able to steadily go down the sizes in my closet and keep the weight off. For the first time in forever, i feel in control. announcer change your life at golo. Com. Thats golo. Com. Stuart strong selloff yesterday. Modest gain in the ground today, nasdaq up 50 right before the opening bell. Top contenders for 2024, under multiple investigations, trump is facing four indictments and there are probes into President Biden<\/a> and his son, they continue to Mark Meredith<\/a> at the white house, no leaf blower today. How do voters feel about all these ongoing investigations . From wherever you want me to be voters are getting a chance to weigh in on the latest developers not only of the former president but first son hunter biden. There was a special counsel appointed to oversee the case, this could drag on for months if not years, we got a snapshot of what people think about the case, fox news asking people what they think about the charges and ongoing case against hunter biden, 50 believe hunter biden did do something illegal. s numbers are up sharply from earlier this year. Only 8 of people say nothing seriously wrong occurred. Until recently the details of the case against hunter were kept under wraps because the investigation was ongoing, hunter was going to plead guilty last month, failure to pay taxes but the deal fell apart after federal judge raised questions about the circumstances surrounding the plea deal, not surprisingly a polling shows political leanings have a big part of how people feel about this was only 90 of democrats feel something illegal happened compared to republicans who feel the first son should be prosecuted. Republicans outraged over attorney general merrick garlands decision to appoint david wise, us attorney overseeing the hunter case as special counsel is republicans say they have plenty of questions about not only hunter but any possible benefits President Biden<\/a> may have received from his sons overseas business dealings. The American People<\/a> need to know whether the president is crooked or not. Theres an election coming, he would want his name cleared if anybody would, i would think. Reporter the white house continues to brush off questions about the first son or any talk about impeachment inquiry being launched in the next couple weeks but until Congress Gets<\/a> back from summer recess we wont no what the next steps to take in the leaf blower is not going so right on cue. Stuart absolutely perfect, well done, see you again soon. The Fulton County<\/a> da wants trumps trial to start on march 4th, the day before supertuesday. Former acting attorney general Matthew Whitaker<\/a> joins me now. I think this is deliberate, sticking trump with a trial right before very important primary day and you know it will be a i think it is delivered and political interference, thats my opinion, what say you . Great minds think alike. What is happening is not only supertuesday but it is going to decide the election. 15 states plus American Samoa<\/a> have their primaries that day and the trial is scheduled to start the day before, preparing for that trial will take weeks and the trial will take if not months, several months. What is happening is this weaponization of the criminal Justice System<\/a> against donald trump and other centerright and conservative people, candidates, probably the biggest challenge we face as a society, the number one question i get asked in iowa, how do we get it back . How do we restore truth, honesty to the Justice System<\/a>, it will take a lot of work. Stuart in the next 18 months as we run up to the election and go through four trials, does trump have freespeech . Or has his speech been criminalized . You had one judge try to place a little bit of a restriction on his ability to speak freely, thats going to continue to twist and turn. As a political candidate especially candidate for president of the United States<\/a> there should be an enhanced ability to speak on these matters and defend himself against accusations. I dont think just to be contrary and i dont think these trials are going to happen as soon as they are scheduled. The prosecutor controls when a case is brought and the defendant controls when the trial is going to happen. I will expect there will be a series of extensions that maybe pushes these at least beyond the primary season, maybe beyond the convention and possibly beyond the election of 2,024. Stuart that would change things. Thank you for being with us. Always appreciate it, thank you very much. Mike pence has broken his silence on the georgia indictment. Lauren he said trump is presumed innocent and the election was not stolen. I said i hoped the judgment about those days would be the left to the American People<\/a> into history. First principles are these, no one is above the law. The president and all those implicated are entitled to the perception of business. The Georgia Election<\/a> was not stolen, and i had no right to overturn the election on january 6th. Lauren hes leaning into his role on january 6th that upset many of the trump base that mike pence will need if you wants to enhance. Stuart why is a federal judge in choosing elon musk of cozying up to donald trump. Lauren this was related to jack smiths Election Fraud<\/a> case. Prosecutors issued a search warrant back in february to twitter for trumps account. Twitter delayed, they eventually handed it over and the judge questioned why the delay and just yesterday the transcript of that hearing was released and the judge said this. Quote, twitter has had quite some time to comply with the warrant and have everything prepared to turn over so im a little bit concerned about where we are. Is it because the ceo, elon musk, wants to cozy up with the former president , and that is why you are here . There is a back and forth about issues like First Amendment<\/a> rights, executive privilege. Eventually twitter complied but that was the comment from the judge. Of the when i have no idea whether elon musk cozies up to trump or supports trump or not. I think theres movement. Any ceo has multiple jobs to do, one of which is to be on the right side of government, and people in position of power. If he were trying to cozy up to trump i couldnt blame him but he should also be trying to cozy up to President Biden<\/a> as well. We one biden keeps him out of the Auto Industry<\/a> meetings on the grounds that does that is not unionized and doesnt support unions. Lets move on and check futures, thursday morning and i see some green but not a lot. We were down sharply yesterday. Very small rebound as of this morning. The opening bell is next. Stuart the market opens in a couple minutes and now ive got walmart at 159. 68 a share up a mere quarter of one . I thought the walmart report this morning was pretty strong. What does it tell us about consumers . Tells you about walmart. I consider them the top 3 greatest companies are created, the fact they can grow sales 5 plus when you do 600 billion in revenue is amazing. I think the consumer is okay but two things i watch that are worrying the heck out of me as Savings Rates<\/a> have plunged and credit card usage is at a record high and Interest Rate<\/a> on credit cards has spiked in the last year and i believe that is something that has to be watched. Stuart the market doesnt look as solid as it was maybe 2 or 3 or 4 weeks ago. What do you think . The fundamentals have deteriorated . Higher Interest Rates<\/a> and higher oil prices, cost of capital and cost of energy, that will do the trick, combined with valuation still freezing at these levels and that is where you get a drop, and adam johnson said it best, when Interest Rates<\/a> go up valuations come down to a certain extent and you are seeing it. I always ask myself little questions, why is citigroup at a new yearly closing low from one Silicon Valley<\/a> bank debacle hit so im worried about the banks in here, something is up. We know commercial real estate is an issue it may be these Interest Rates<\/a> continue to spike. It will hit them hard so financials keep doing what they are doing, i would stay worried about the market though i have pockets of strength in this market. Stuart should i sell my microsoft . Not here. Three weeks ago i told you microsoft would stop. Im a believer in reactions to earnings. It is one of the top 5 Companies Ever<\/a> created, the ceo is magnificent and when you get over this it is higher down the road. Microsoft doesnt usually they announce what sales will be a few years down the road with a i and if those numbers come through, look out, the spot will be higher down the road. Stuart thanks for bailing me out on microsoft. Appreciate it, see you again soon. 15 seconds to go and we open this market. I see green on the screen, looks like we are open a little higher but we will do the selling yesterday. Three seconds to go. We are on the air and off we go. Hard to make a judgment we do it, the dow is up 50 points. 42 . . 44,800. When they opened up, the dow 30, a lot of buying today. I see 24 of the dow 30 on the upside and a couple losers. The s p 500 is where in the first few seconds . It is up 1 3 of 1 , modest rally. Nasdaq composite is up 0. 40 , 55 points. Lets look at big tech, thats not a mixed picture. Metais down 0. 70. Can you give me the highlights . Lauren they offer lower prices on essentials, come in for the food and you by the other stuff. Samestore sales up 6. 4 . More people coming in, traveling up and spending more each time. Ecommerce sales up 24 and margins expanded 50 basis points because their costs are coming down. Im surprised stock is not up. It is now slightly lower. The walmart story is good. What walmart says about the overall consumer is a problem. Desperate enough they are going to walmart. Stuart 6. 5 gain in sales, ecommerce was up 24 , sounds pretty good to me for walmart. Not the rest of it. Therein lies the rub. Samestore sales, not all the news stores but the same ones that have been there forever, though sales went up 6. 3 . Of that to me says people at the higher end making more money are probably trading down. For samestore sales to go up 6. 3 at walmart youve got to bring in new customers. Who were those new customers . People trying to save money. Stuart the ceo said this is not your grandfathers walmart. I think he said that. Lauren a health and wellness category, a lot of buzz about weight loss drugs they could be selling in another revenue stream. Stuart the dow is up one hundred points in the first couple minutes. I also want to look at hawaiian electric, huge fallout from the maui fires. Stuart the stock is getting decimated down 7 days in a row. This is a big story, the wall street journal reporting the company gave priority to shifting their money and resources to combat Climate Change<\/a>, to comply with hawaiis Renewable Energy<\/a> mandates over addressing fire risks around its powerlines. There were wildfires in 2019 and at that time the utility said we need to do more. They had plans to spend 200 million on fire mitigation but four years later they only spent a fraction of that and are now in talks with Restructuring Advisory<\/a> companies because of potential liability. Blue one that is a new spin on the entire story. Liability they were supposed to adjust for Climate Change<\/a>, didnt. Lauren admitted they should have and they shifted their spending and priorities in those four years. Stuart same of california utilities and their wildfires, it is not just to why, this is trying to force a green agenda onto companies that cant necessarily afford to pivot to green and it is at the expense of the safety of other people. That is misguided. That is green Energy Running<\/a> ahead of itself. Stuart i think you are right. Solid gain for adobe and this has to do with ai. Lauren they have got an upgrade to Purchase Bank<\/a> of america. They love the incorporation of ai and say they are ahead of the curve. It is in a new testing form but it is called firefly, you text what you want an image to look like essentially so they raised their price target to 30. Stuart you text and image. Lets move on. You text the person you would like to meet. Here is what i like or whatever. Stuart there goes adobe on the upside. The textbook people, i wonder why they are up 9 . Lauren authorizing 2 million to their buyback program. I think thats a sign of confidence because chat gpt is no longer eating their lunch. They said students were using chat gpt and taking business away from them. Now they partnered with nai company to develop personalized tumors essentially so they are using ai. Stuart show me winnebago. People want to travel around the United States<\/a> in retirement and not going to do that. Why are they in the news . They increased their dividends by 0. 31 a share up 15 from the prior quarter. Stuart week demand . They were on fire during the pandemic and it has subsided and the cost of the rv itself and the fuel. What about taking the show on the road reelection season. Stuart varney from cincinnati, Stuart Varney<\/a> from st. Louis. Stuart talking to the producers now. Did you put him up to this . I would watch. I think it would be great fun. It would bring people into the house, into the winnebago. Stuart you brought with you some stock picks and the first one is nvidia. This kind of price. Been buying it since 175. We talked about this before a year ago, i recommended it to my bullseye subscribers. I always tell half so i went to 475 a month ago and sold half. Now it has cooled back to 435, i am buying those shares back. My next target is 600. These guyss chips are 10 times faster than in the other chips, 3 trillion calculations per second. Stuart you say goes to 600. Thats my next target. Which by the way is 40 multiple on earnings for 2,025 and 15. Stuart okay. Another stock that you like is called symbiotic. Dont know what they do. Very cool stock. This company was 8 less a year ago, it is now 65 a month ago. They are revolutionizing the way warehouses work, converting all 47 of walmarts distribution facilities to robotic, fully automated distribution facilities, it saves walmart tremendous amount of money, talk about walmart earnings being up, they can blame symbiotic. Stuart stay for the hour please. 40yearold transgender woman, biological male sets and alltime record in power lifting, 450 pounds more than the secondplace finisher. Listen to what one competitive female power lifter had to say about that. Role it. So important to keep women and girls sports fair and safe, fairness and safety have to be top priority of every generation. Bodies play sports, not identities. Stuart we will hear more from that bodybuilder later in the show. And why you langone had a medical breakthrough successfully transplanting a pig kidney into a braindead mayor. That kidney has been functioning for 30 days. Doctor marc siegel is here with that. Larry kudlow just sat down with donald trump for an exclusive interview and is here with a preview of what hes going to show us tonight. We will be back. The biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Detect this living with hiv, i learned that i can stay undetectable with fewer medicines. Thats why i switched to dovato. Dovato is a complete hiv treatment for some adults. No other complete hiv pill uses fewer medicines to help keep you undetectable than dovato. Detect this most hiv pills contain 3 or 4 medicines. Dovato is as effective with just 2. If you have hepatitis b, dont stop dovato without talking to your doctor. Dont take dovato if youre allergic to its ingredients or taking dofetilide. This can cause serious or lifethreatening side effects. If you have a rash or allergic reaction symptoms, stop dovato and get medical help right away. Serious or lifethreatening lactic acid buildup and liver problems can occur. Tell your doctor if you have kidney or liver problems or if you are pregnant, breastfeeding, or considering pregnancy. Dovato may harm an unborn baby. Most common side effects are headache, nausea, diarrhea, trouble sleeping, tiredness, and anxiety. Detect this i stay undetectable with fewer medicines. Ask your doctor about switching to dovato. Stuart President Biden<\/a> continues to tout his economic policies despite voter disapproval. Edward lawrence joins me now. The democrats seem to see things differently than the voters. President biden trying to convince people not to count on what they actually see in the economy but listen to what his words are on the Inflation Reduction Act<\/a>. President biden i, plan bidenomics. Not sure they mean in a complementary way. But guess what, it is working. Senator Chuck Schumer<\/a> trying to spin the ballooning price tag, the budget model puts it at 1. 05 trillion. Clean Energy Investments<\/a> are so popular, we put 369 billion as the amount that we would put in for tax reductions to encourage wind and solar and clean energy. It is now over 500 billion and it could go as high as 1 trillion. Reporter he failed to mention how the president plans to pay for that rising cost, the cbo puts the federal deficit in fiscal year 2022 at 1. 4 trillion, the Treasury Department<\/a> says the us deficit stands right now at one. 6 trillion for fiscal year to date and we still have the rest of august and september to go. President bidens spending by hundreds of billions of dollars now that the extra covid money is removed from the economy. Imagine reaction for republicans. The wall street journal led the hill says we are spending too much money on things like destroying the American Energy<\/a> prospect, not only energy dominance, not even energy independence. These are things that are part and parcel to the Inflation Reduction Act<\/a>. Reporter in a new quinnipiac poll, 39 of registered voters approve of the president s handling of the economy. Stuart 31 . Thank you very much indeed. Larry kudlow had an exclusive interview with donald trump. Trump talked about the importance of bringing back choice. You will be able to buy an electric car or any form of car that is made. Youve got to have choice like in school, we want school choice, we want choice for buying cars and washing machines, all of this stuff. The dishwashers think were telling me have to run five times because it hasnt got enough water so what they do, they end up using water, the whole thing large extent everything you and i talk about is commonsense, they dont know what they are doing and are destroying the country. Stuart larry kudlow, the man himself joins me now. Did donald trump mentioned choice in abortion, a womans choice . No, he didnt, we didnt cover that. The way i try to structure the interview, he was terrific, he was in great form, top of his game, really sharp and it was wonderful, we spent an hour, more than an hour. We stuck mainly to the economic related issues throughout the interview. He made some quick commentary two days after the georgia indictment, that was just the top of the show and he had a very positive attitude about changing things, very optimistic at the end about changing things. His key point was energy, talking about the ira bill, one trillion dollars from more Climate Change<\/a>, more subsidies, more topdown Central Planning<\/a> trump is opposed to that. He blamed a the lack of the drilling for oil and gas, he blamed inflation on that, he blamed our decline in National Security<\/a> and that and as you saw in that clip he said people should have a choice about buying cars and appliances and i think he nailed it. Stuart i am sure youve seen the latest fox polls, ozempic teen is gaining ground. Interesting candidate, boundless energy. Could he be trumps Vice President<\/a> you think . I have no idea. Ozempic teen is running initiatives campaign. I want to say couple things more about what donald trump said last night. He spent time expressing his worry that the us dollar could lose its World Reserve<\/a> currency status. He was very concerned because he believes under Biden America<\/a> has been on the decline and the china wants to replace the dollar and so does russia and other countries. Spent a lot of time worrying about what i call king dollar. Also, i asked him about jay powell who will be fed chair if mr. Trump were to be reelected. I asked if he would reappoint jay powell whose term goes into thousand 26. The former president gave what i would call a very interesting answer and finally stuart going to tell us what he said . No. I want you to watch the show at 4 00 p. M. 00 pm eastern. Stuart got to leave you. He outlined a radical trade strategy which is also quite interesting. Stuart im out of time. We will save that for tonight as well. Watch the full interview at 4 00 eastern, fox business, trump, larry kudlow, 4 00 this afternoon. Thanks very much. Coming up dont forget to send in your friday feedback. You can email questions, comments, critiques, varneyviewers fox. Com. Out showdown in virginia, Largest School<\/a> district says they will defy the governors guidance on bathrooms, the governor is firing back, the latest on that battle coming up. man what if my type 2 diabetes takes over . woman what if all i do isnt enough . Or what if i can do diabetes differently . avo now you can with onceweekly mounjaro. Mounjaro helps your body regulate blood sugar, and mounjaro can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7 . Plus people taking mounjaro lost up to 25 pounds. Mounjaro is not for people with type 1 diabetes or children. Dont take mounjaro, if youre allergic to it, you or your family have medullary thyroid cancer, or multiple endocrine neoplasia syndrome type 2. Stop mounjaro, and call your doctor right away, if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, vision changes, or diabetic retinopathy. Serious side effects may include pancreatitis and gallbladder problems. Taking mounjaro with sulfonylurea or insulin raises low blood sugar risk. Tell your doctor if youre nursing, pregnant, or plan to be. Side effects include nausea, vomiting, and diarrhea which can cause dehydration and may worsen kidney problems. woman i can do diabetes differently with mounjaro. avo ask your doctor about onceweekly mounjaro. Stuart new york city has become the latests to band tiktok. Medicine all worth with me, new york band these devices on three years ago, what took the city so long . The city is now doing it. It could be mayor adams, and the department of sanitation, new york Citys Department<\/a> of sanitation pretty popular. No longer because now the new rule off of all government accounts and the reality is it is not because of the popularly. It has to do with a safety concern recommended by new york city Cyber Command<\/a>. In a statement from city hall they explained the decision saying in part, quote, nyc Cyber Command<\/a> regularly and explores proactive measures to keep data safe as part ongoing efforts, new york citys command determine the tiktok application post a Security Threat<\/a> to the citys Technical Networks<\/a> and directed its removal from cityowned devices. Employees with government phones have 30 days to remove the apps from their device, then they will join the list of states and cities worried about china getting a chance on american data. 37 states have implemented a ban or restriction to some extent. Despite the pushback from Us Government<\/a> at federal, state and local level the chinese owned apps is expanding its offerings, doubling down. As chinas economy is struggling, tiktok looking to become part of american Shopping Experience<\/a> by investing heavily in ecommerce with tiktok shop so users can watch a video and shop directly to the video. A new and potentially lucrative revenue stream for the apps but on capital a bipartisan senators introduced a bill that would block tiktok from exporting data to china. A lot of these bands focus on just government devices but in montana they recently passed a bill that bars tiktok across the state, that will go into effect january 1st it is being challenged by tiktok on several grounds including violation of the First Amendment<\/a>. Stuart thanks very much. Let me ask this. If they try to ban tiktok completely for everything there would be a revolution in whichever Political Party<\/a> says ban it completely would lose. I think you are right. Stuart you can ban it from government phones but you cannot do a national ban. Lauren my aunt watched my story and said shes totally addicted to the shopping. Stuart pete hegseth and Khalid Shaikh<\/a> mohammed, the mastermind behind 9 11 may not get the death penalty. The new wave of migrants crossing our border. Doctor marc siegel on the pig kidney transplant and all things trump indictment. The 10 00 hour is next. Look whats up my trade dogs . You should be listening to me. You want to be rich like me . You want to trust me on this one. [inaudible] wow yeah its time to take control of your investing education. Cut through the noise with bestinclass Education Resources<\/a> that match your preferred style of learning. Learn your way. Not theirs. Td ameritrade. Where smart investors get smarter\u2120. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance<\/a> policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct<\/a> today at the number on your screen, or visit coventrydirect. Com. Stuart i know this. Its adel. Ca","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia800505.us.archive.org\/25\/items\/FBC_20230817_130000_Varney__Company\/FBC_20230817_130000_Varney__Company.thumbs\/FBC_20230817_130000_Varney__Company_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240707T12:35:10+00:00"}