♪ ♪ ♪ maria: check out this video. has the big buzz of the morning. a group of new yorkers dancing in step to michael jackson's hit song thriller during the west village halloween parade. this is the way i like to see new york. we haven't seen something like this in so long. it looks good. >> so much fun. >> that reminds me, i have to go see is mj. maria: you're talking so much about crime in new york. people got together and danced. let's dance, not fight. >> yeah, let's actually work together. >> let's have some happy news.

maria: thank you so much. see you tomorrow, everybody. stu, take the it away. stuart: good morning, everyone. the ceasefire leader, everythins justified, end quote. you will see more of this moments from now. to the markets, and look at this, the rally continues. the dow up 200 wednesday, up maybe another 200 at the opening bell today. s&p up 44 wednesday, up another 40 maybe today. and the nasdaq storming ahead this morning, up maybe 200 points. in just a few minutes' time. and here's why. another sharp drop in the 10-year treasury yield.

ten days ago, what, it hit 5%? now it's below 4.70. in fact, it's all the way down to 4.63. now, that's quite a performance. the 32-year has -- 2-year has dropped below 5% at 4.93. extraordinary. bitcoin has rallied further it's now hit the $35,000 level, 35,3, to be precise. gas and diesel, they're down. of that's a pretty good trend. $3.4 # 4 on regular, down 2 cents overnight, $4.43 for diesel, also down down the 2 cents. let's get to politics. five democrat big city mayors want to meet with the president. they don't want the border to be closed, oh, no, they want taxpayer money to deal with the problem. separately, that caravan that's heading our way is now 7,7000 strong. it should arrive at our open border in a few weeks. or days, actually. as anti-semitism sweeps our cities and colleges, the

president appoints kamala harris to lead the fight against islamophobia. on the hoe today, lawrence jones at a new york city diner which had a swastika drawn on it. a school district that banned cell phones, how did that go? and apple, the most valuable company in the world, reports its finances this afternoon. if you have any money in the markets, you likely have a piece of apple, and how hay perform will make a big difference to your money. it's up premarket and pre-report. it's thursday, november 2nd, 2023. "varney & company" is about to begin. ♪ ♪ stuart: let's get right to this, we are learning that at least 400 americans are still stuck? gaza, this as fighting ramps up inside gaza. good mosh, lauren. take us through the latest. lauren: 5 of those 400 americans have crossed into egypt. for the second day, yes, some

foreign nationals are being let out, the wounded and the foreign nationals as the border opens for the first time. meanwhile, 18 israeli soldiers have been killed in combat in gaza as israel's attack on gaza intensifies in the air and on the ground. you had another israeli strike, and troops are targeting hamas cells that are using explosives to deter the idf troops. iran's foreign minister warning of harsh consequences if attacks on gaza continue to. he actually wants a ceasefire while president joe biden says a pause in fighting is needed. hamas is vowing to continue its bloodshed forever. >> translator: israel is a country that has no place on our land. we must remove that country because it constitutes a security, military and political catastrophe to the arab and islamic nation and must be finished. we are not ashamed to say this with full force. we must teach the israel a lesson, and is we will do this again and again.

it's just the first time, there will be a second, a third and fourth because we have the determination, the resolve and the capabilities to fight. lauren: in english they say ceasefire, in arabic they say every day is october 7th, that a they'll do in this again, again and again. that's what mamas does -- hamas does. stuart: i think people should understand and stop calling -- lauren:s a chance to reload. stuart: exactly. lawrence jones is at the famous second avenue deli in new york city. lawrence, a swastika was drawn outside that deli. what do the diners think about that? >> yeah. about two weeks ago, a swastika was drawn on the building right across the street at one of the places where children go every single day. three swastika as were drawn over there, so you can imagine how they're feeling. let's talk with some of the diners here. when you see system of the antisemiism the, the fact where you're sitting right now now a swastika was drawn, what goes through your mindsome. >> i'm a mother of four

children, and i'm worried for my if kids now. i don't want to send my kids to school because i am worried or if they're going to be the attacked or if they're going to be the victim of the next hate crime. and i just, i'm constantly unsettled. this doesn't feel like freedom of religion, to the me, to live in new york and be scared to be jewish. it's not right. >> what do you tell your children? because they're innocent. they don't know. you can't, i guess, explain the complexities of what's happening internationally. what do you tell them about hate? >> i do tell them, i say, unfortunately, there's some people out will the that hate us, and they asked me why, and i can't explain to them because i don't truly understand how much there's hate and why there's so much hate out there. and i just, i tell them that i'm keeping them safe the best that i and to always be aware of their surroundings. >> one of the things that i get

is, you know, this didn't happen, the babies weren't put in the oven, they weren't beheaded, what do you -- [inaudible] >> the people are real, and they each have stories. ariel, ojad, i've thought of them this morning, eton, they're all under 10. their moms want them home. each of these hostages has a story, and everyone brutally massacred has one as well. i think hate is trending, so much so that especially the american youth is tied to their devices, and they've convinced themselves of one narrative, and they'll do everything in their power to continue to convince themselves of a certainty that the israel is not -- that is or is not true. there's no stopping it, it's scary. stuart: lawrence, can i just jump in here for a second? >> yeah, go ahead, stu. stuart: what you're doing there is showing the world the degree of anti-semitism in the yates9 and in new york city -- in the

united states and in new york city in particular. are you aware that the white house has launched a fight using kamala harris, the vice president, in the fight against islamophobia? that seems like a strange thing, to me. what about you? >> well, stu, it's like you read my mind. that was going to be the my last statement to you. you had the fbi director just say 60% of the hate crimes in this country are targeted against the jewish people, so all think there would be a task portion to combat that. instead, it looks like the president and vice president are playing politic es, going after voters by creating something for if islamophobia. it was tone deaf,s and i think there's a lot of democrats that identify as jewish. and they expected the president to defend them. i think that's going to the change. stuart: yep, it should. lawrence jones, great work today. thanks so much for joining us. we'll see you again later e. >> thanks, brother. stuart: let's get to the markets, i want the show you what a rally we've got here.

200 up for the dow, almost 200 up for the nasdaq. adam johnson with us this morning to cover what's going on on wall street. this is a nice rally -- >> yes, it's. stuart: does it have legs? >> i think it does. stuart, how many times have you and i debated that question over the past two years? there's been this assault on growth stocks because there was inflation and because there, as a result, had to be the rate hikes. now that inflation is coming back down, it looks like the fed is off our back. they may be done with rate hikes, completely done, and i think that's why you're seeing relief on stocks. stuart: can you explain to me why we've seen this extraordinary drop in the yield on the 10- year treasury? >> oh, i know. i'm actually looking at the 30-year because that's what the chicago bond traders are looking at specifically because the 30-year bond went up to 5.15. they took it there three times. that was the old contract high that goes back to 2007. that was the pain point.

they literally took it three times over the past week and a half it held each time, and so the assumption was, well, if the contract high that goes back 15 years can hold, that means you coffer your shorts in the -- cover your shorts in the bonds and actually you buy them, and that's what's pushing bonds up, yields down. as a yields come down people say, oh, there's less pressure on stocks, buy stocks. stuart: big tech benefits enormously. >> well, big tech has the earnings growth. the big guys, microsoft, nvidia, etc., the average a earning growth is somewhere between 25-30%. so you may be paying 25-30 times earnings on a pe ratio basis, but if you're getting that kind of growth and you're getting solid companies that are well run, that are on the cutting edge of artificial intelligence and everything else that we need, you know, from search to talking with our friends on facebook, on and on and on, yes, that's where you want to be. it's one of the places you want to be. now if the small caps can start

to finally turn. stuart: heaven forbid that apple disappoints this afternoon. >> heaven forbid. i will tell you, we all kind of know that apple growth has slowed to kind of mid single digits, 6, 7, 8%. it's ap. it's just a big -- it's apple. it's just a big, chunky company that needs to keep innovating. i'll give hem the benefit of the doubt. stuart: do you have any big tech? >> oh, you better believe it. i run the american ingenuity fund. by definition, i have to to have those companies. it'd be inconsistent if i didn't have them. it's a question of weighting things appropriately. if i have, say, 4% of each of those stocks, i'll have, say, 1-2% of the little guys that i like to have fun with. i think after maybe two years of high pressure, finally the little guys are going to join big tech. stuart: wouldn't that be nice. adam marsha -- johnson, i'm

sorry. >> my mother's name is marsha. stuart: i said marshall, coming up is senator roger marshall. you've been confused with the senator. senator marshall pressed secretary mayorkas. listen to this fiery exchange. roll it. >> do you have any idea how many numbers, what those numbers are? >> an individual who poses a risk to our national security is our highest enforcement priority, and if -- >> so you don't know the answer to the question? >> concern and if attention is, indeed, warranted by reason of the risk they present, then we, indeed, detain them. stuart: okay. do we know where they are? that's a pretty good question. we're certainly going to get into that. look at that caravan. speaker johnson paces his first big -- faces his first big test today, the stand-a alone israel aid package is being brought to the floor for a vote. if more on that next.

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even though the white house already says they're going to veto this bill. really in washington what this means is that the negotiating is just beginning. to soming up in the next hour, we're going to see this procedural vote on this israel package, and israel aid package, and they're basically going to vote on the rule which will begin the debate for the actual vote. democrats have slamming this bill, stuart, because of its pay-for, it's unprecedented when it comes to emergency aid. hay got some help yesterday in their talking points from the congressional budget office that says that republicans' plan actually cuts $26 billion in revenue and adds $12 billion to the deficit over the next decade. now, johnson is shrugging that off because those numbers are based on revenue that really hasn't come in yet, and he told fox yesterday only people in washington, when you cut spending, do they call it an increase in the deficit. that's his argument. but some conservatives, stuart, like congresswoman marching taylor green, congressman thomas

massie, they do not think that we should be funding any foreign wars, so we're watching their votes today. johnson may lose a few, he can only lose four if everyone is actually here in attendance today. if the bill passes today, stuart, johnson will put senate leader mitch mcconnell in a really tricky position here, because mcconnell wants ukraine aid added to this package, but he's already facing a pretty divided conference when it comes to that. again, the actual vote is expected later this afternoon, and it will be the first big political test, the first big legislative test for speaker johnson. stuart? stuart: aishah, thank you very much, indeed. president biden has his own bill marrying aid for israel to aid for ukraine. congressman darrell issa with me. there's a lot of pork involved. we've got $6 billion for broadband availability, $16 billion for covid childcare relief, $1.6 billion for low heating costs for residents in

the northeast. can you do something about that? can you knock this stuff out? >> we can. and today was, we do a $14 billion clean bill on a referendum on our closest ally in the middle east. we're doing that. but, you know, your prelim also hit an important point, stuart. we are also making sure that we're not burdening the american people with excess irs intervention in their lives x. even though the cb work wants to score this -- cb with o wants to score that as a revenue loss, remember that's your money and your accountants and everything else that goes with excessive irs audits. so we are doing both at the same time, but we're doing it for the right reason. stuart: does speaker johnson have the votes for the separate israel aid package? >> i believe he because. you know, republican -- he does. republican support for our closest ally, israel, is extremely strong. congressman massie, of course, is a staunch libertarian, dun -- really has opposed a lot of aid

always. but the reality is we as republicans support israel. we also support allowing americans of hair the hard earned money and not be burdened with excess oversight, if you will, from the irs which is what those 87,000 irs agents would have really been. stuart: congressman, san diego officials are calling to close the southern border over terror concerns, close it, shut it down. you're in california. what do you say to that? >> well, we have the busiest land port for commerce of anywhere in the world, and it's extremely important that it be open for business, but we also are the place where the so-called fence or wall began for security reasons. we need both. we need the fence to be strong, we need the gates to be open to commerce, and we need to stop bringing people in on the false premise that they're seeking asylum or in some other way legitimate refugees when, in fact, they're just looking for a job and a green card into america. stuart: congressman, we always say we must do this, we must do

that, but we never do. the border's still opened. >> it changed under president trump. it changed back and then some under president biden. that means that the law doesn't need to be changed, the president needs to be changed. we really need to change the execution, the faithful execution of laws already on the books. stuart: got it. congressman darrell issa, california. thanks for joining us, sir, appreciate it. >> thank you. stuart: we've got a development in the migrants in big cities story. new york city mayor eric addams has -- eric adams has canceled his meeting in d.c. today the about the migrant crisis. we're hearing that the meeting is still on but without mayor adams. we're trying to figure out why mayor also is not -- adams is not going. all right, check futures, please. the opening bell is next, and i want to show you how good it's going to be. up 200 for the dow, up 170, 180 for the nasdaq. it's another rally. we'll take you to wall street next. ♪ all you need is love.

♪ all you need is love. ♪ all you need is love ♪

this is american infrastructure. megawatts of power, rails and open road, and essential services of every kind. all running on countless invisible networks, making it a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends the systems running america's infrastructure. for these services. for the 336 million of us living here. ♪

stuart: check futures. you'll like what you see. dow's up another 32000 points --

200 points probably at the op opening bell. d.r. barton's with us this morning. d.r., you say that walmart is a better experience for shoppers than amazon. you're here to make your case, lad. go. >> okay, stuart. [laughter] you know, amazon, it's been many in my portfolio for a long time. i still like them, but i think they are becoming much more commodified. they're doing simpler things. they're cutting back. the experience of going on their app or the web site, i'm inundated with influencers and others. walmart is giving me a lot cleaner experience, and a lot of people i've talked to have found the same thing, curbside pick-up, easy deliveries. they have done a really good job, and they're catching up to amazon. and i think that's one of the reasons their price is so high and will stay high on the stock. stuart: it's at $165 and you're right, that thing has gone up significantly. would you be brave enough to buy

some more now? >> i think i would, stuart. and here's the big reason, i think we're going to see an unusually good holiday season. our channel checks are telling us from walmart if in particular and retail in more generally, but i think walmart's going to have a really good fall holiday season, a great christmas season. and i think that's going to the really boost the stock the yet again. stuart: are you brave must have to buy apple today before -- enough to buy apple today the before the earnings report? i believe the latest quote is $175 right now. would you buy it today and take a fly on it? [laughter] >> i love apple, as you know, stuart. i don't know that i like that flyer show. -- flyer though. i think what we're going to be looking at is hair forward guidance, where do they see some of the new iphone sales coming

in, are the 15s moving or not. i think those are going to be important. but the services and the wear ables are still, i believe, going to come in quite strong this time, stuart. so i don't think you're going to be hurt through the earnings, for sure. stuart: okay. how about the sharp decline in treasury yields? i've got the 10-year down to, what, 4.63, that's what we've got now, and the 2-year is below 5%. that's a really good stimulus for big tech, isn't it? >> it certainly is. we talked last week about how that helps their cash flow situation or their cash hoard situation, more correctly, that all that money they have is more valuable today with lower interest rates. but i think adam hit on something really key, and that is a lot of people are starting to do more than whisper that the fed might just be done. so we're looking at things like that right now, and i think the

markets are reflecting that over the last few days. stuart: you know, when i tell our viewers that the yield has gone from, like, 4.90 all the way down to 4.65, it doesn't sound like much. but can you tell our viewers just how significant that kind of move is? >> yeah. well, think about the all of those basis points, those moves, 30 basis point move, that's a pretty big move in terms of lots of money. if you look at the s&p 500 just by itself, the s&p 500 companies hold about a trillion dollars worth of cash. every percentage point then, stuart, is $10 billion of every 10 basis points is $10 billion a year for them. so that is a lot of money. stuart: yeah. that's a good perspective, d.r.. thank you very much, indeed. we'll be watching apple, of course. all right, a couple of seconds to go, we open the markets, and we're looking for a lot of

green. let's not -- i hope we're not disappointed and, of course, i have no idea how things will close, but we're going to see green, there you go, from the opening bell. the dow is up 200 points, better than half a percentage point gain. most of the dow 30 are in the green. you're to going to see four losers right there, but i see some really big winners as well. dow's up 200. the s&p 500 also on the upside to the tune of almost 1%, .92%, 38 points. solid gain. nasdaq composite, here's where i'm looking for a big gain, and we've got it. up 1.25%, 162 points. lauren: and up five days in a row. stuart: thank you for the interjection, you're quite right. big tech is up across the board. no losers in big tech this morning with treasury yields all the way down. meta, up $6. amazon up $1.60, microsoft a measly 83 cents. i'm disappointed --

lauren: [inaudible] from jay powell. stuart: eli lilly reported this morning. lauren: weight loss, topped $1.4 billion in sales. amazing. stock's up 3.5%. lilly still cut their annual profit forecast because they keep buying all these smaller drug companies to broaden their pipeline. they take charges because of that. this is astonishing to me, that the stock is up so much, because they came out and hay drastically cut their earnings forecast rt if year -- for the year, by about $3. and still monoinjury re's so successful, stock goes way up. stuart: do you think it's monoier row? >> yeah. the infrastructure, the ecosystem that it creates. you know, it's not just those names going up, it's diabetes stocks going down because if, you know, you're thinner, you're healthier -- lauren: so novo more disk has ozempic, but they also have

wegovy, and it is expected the if fda will expand how wegovy can be used in the next suggestion months meaning more insurance pickup. the use of these weight loss drugs widening, for heart attacks, for all sorts of conditions. that's why the companies are going up -- >> exactly. aen ecosystem s and that's -- it's an ecosystem. stuart: moderna swings to the a loss, right? lauren: yeah. sales fell 46%. who's getting the covid vaccine? that's the problem. they're planning for 50 million shots in the u.s. this fall, i actually thought that was a lot, but just last month they said we think it's going to be as much as $8 billion in sales, that's a $2 billion out in one month's time. stuart: it's down 15%. some earnings reports came out before the bell this morning, and conocophillips, i think -- lauren: up they go, 2%, 14% higher output. they're very active in shale, the shale revolution. three straight quarters of record production, believe it or

not -- >> despite the best efforts of the biden administration. well done, america. well done to drill and keep the resource that we have pumping so that our inflation comes down. well done, big oil. stuart: that was sarcasm. >> no, i mean it. i'm very proud of what big oil has done because the administration has tried to shut them down at every turn. and we're shooting ourselves in the foot by doing that. we have all this oil, let's use it. stuart: please. we got fox out earlier? lauren: yep, sales of $3.1 billion growth in tv business, carried the women's world cup, ad sales weakened, particularly political ads, so so the stock is down 1.5%. stuart: let's go to starbucks. lauren: analysts are calling their $5 coffee an affordable luxury, but they launched the psl at starbucks, what is that? the pumpkin spice latte. it came back. [laughter] stuart: producers are trying to tell me. lauren: they launched traffic

into starbucks went up 20% on one day. so in the u.s. same-store sales in the overall quarter of which the psl launched went up by 8%. and because their coffee is so expensive that it is being called a luxury, our average order size went up by 6%. so, yeah, it's expensive, but we keep going. stuart: and the stock's up -- lauren: 10%. stuart: that's a huge move. peloton, are they still around? lauren: adam's favorite. they're still around. it's a $4 stock, but they're up 2%. bigger loss, weaker sales, fewer subscribers, and they're not able to the convert the free customer into the paying customer because of inflation. everybody's looking to, you know, save money. stuart: if you've got a peloton and you no longer use it, can you sell it? is it strictly for -- >> i think it's a giveaway. [laughter] you couldn't pay me to buy one, new or used. stuart: sometimes i go to garage sales, and -- >> oh, yeah.

stuart: you know those -- >> nordic track. pretend we're cross-country skiing. stuart: i want to know if there's pelotons in garage sales. i've not seen any yet, but i expect it. are we done with this? i think we are. thanks very much is, lauren and adam. oh, wait a second, we're not done. lauren: still going. >> keep going. i'm on the nordic track. stuart: you like ford? >> oh, i love ford. stuart: they just reported truck sales down 10%. >> yeah, i know. they were down because of outages from the strike which is over. ford is trading at six times earnings. that's one-third the valuation of the s&p 500. the stock yields a 6% dividend, all right? and if you're worried about having to pay workers, you know, all this money because of the new settlement, don't be worried. labor is only 10% of the cost of a car. ford can afford this. it's about $800 per car. they're just going to raise prices and pass it on. it's about a 2 hit to earnings.

2%. and that was the uaw's whole point. ford, you can afford this. yes, ford can afford. i own the stock. it's trading way too cheap, and it pays a dividend. buy it. stuart: okay. prologics. that's real estate, right? >> it's the largest industrial reit, real estate investment trust, and they focus on warehouses. they've been hot. occupancy, stuart, is 98 president, and they're -- # 8%, and they're renewing leases, up 8%. real estate's been trash thed because of rising rates, but i think those are a thing of the past. the fed is done, and e-commerce is only growing. you need more warehouse space. this stock is down a lot, i love it. stuart: that's a big warehouses, not the small storage units. >> monster warehouses. multiple football fields large. stuart: deal with this quickly, sofi, please. >> yeah. it's the largest and first-ever online-only bank. people may have heard of it

because of sofi stadium in los angeles. the ceo keeps buying shares, this too trading on the cheap and growing at, oh, gosh, 300%. yeah, yeah. stuart: that's -- >> it gets your attention, right? stuart: and it's up 5%. coming up, don't forget to send in your friday feedback. e-mail your questions, comments, critiques to the varneyviewersfox.com. look at this headline, you'll like this one, parents of brats, you'll hate me for saying it, but three cheers to the swanky eatery that charged a family $50 for being unable to control their feral kids. kennedy wrote that. now, she's well behaved, and she's going to be the on show. apple, most valuable country in the world, reports after the bell. but with microsoft right on its heels, is their top spot at risksome susan li breaks down the numbers for us right after this. ♪ ♪

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stuart: that rally, will you look at it? solid yesterday, solid again this morning. dow's up 250 at this stage after, what, 12 minutes' worth of business, and the nasdaq's up nearly 200 points. that's the markets. i bet every single one of big tech stocks is up, and i think i am right for once. all showing pretty good gains. now, microsoft and apple, they've been rivals since the '70s. apple currently has the top valuation. microsoft right behind. they've taken different. pat:ses to get to the top. susan li's with us. welcome back. >> great to see you. stuart: am i right, apple's focused on consumers, microsoft is focused on software? >> yeah. so all of these tech stocks are part of that magnificent seven that has outperformed so far this year. so microsoft is now just $200 billion shy of overtaking apple

to be the biggest company on the planet. so far in 2023 outperforming apple. microsoft is up 45% this year compared to apple's 40% gain. and when you're worth over $2.5 trillion each, mind you, and represent around 5% of the s&p 500, we're talking about mega, mega size. so hi of king kong versus godzilla, as i like to say. we do have apple earnings tonight which could give us clues on who's on the better growth trajectory and better growth path. microsoft did better last week, and that's thanks to cloud growth recovery and microsoft's a.i. investments including $11 billion into the chatgpt competitor and maker, openai. you have microsoft office and that $30 a month assistant co-pilot launching. we're not sure on demand so far, but we're definitely in this a. a.i. hype cycle which rewards companies for anything related to a.i.

so tonight apple might be reporting its fourth straight quarterly sales decline which would be the longest losing streak in more than two decades, they're only expecting a 1% sales drop. so think of this, the bar is set so low, they actually might escape that losing streak. three major things to watch out for, china, of course, reports that iphone 15 is not selling as well this year compared to last year. possibly telling employees to stop using iphones. guidance as well, commentary, that's what i'm looking for for the all-important holiday shopping period and, of course, services. apple music, apple tv +which now makes up 25% and, of course, i'll be talking to apple's leadership, ceo and team, later on tonight. stuart: so we get the call right about 4:30 eastern time? >> yep. the call is at 5, past 5, and you'll get the earningsings at 4:30 tonight. stuart: got it. thanks, susan. good to see you again.

ray wang with us this morning. who do you say is more valuable in the long run, microsoft or apple? do who you -- who do you got? >> in the long run, microsoft if has a great opportunity. it's really because of the cloud growth and a.i., but it's also because microsoft has cultivated a younger demographic really through the gaming side and some of the other properties, and that gives them the longevity. so they've done a good job building that younger group and driving enterprise sales and outexecuting amazon and google in many of those deals. stuart: okay. apple reports after the bell. i've got to tell you, i'm more interested in the call, because i want to the know their outlook for the holiday season. what am i going to say -- see, rather? >> yeah. there's going to be a lot of conversations about where the new imac launch is doing in terms of the m3 chip. they made a big deal about that on monday. and i think that's where you're going to see potential growth to reinvigorate the mac sales. and more importantly, services

is holding the line and, of course, iphone 15 sales, is it going to the happen? is the refreshment cycle in place? i think those forecasts in terms of the holiday season are going to be, those are what everyone's listening for. if you don't make the earnings beat and if you don't have a good forecast, your stock takes a hit. but with interest rates coming back down, there's a chance that nobody cares anymore. stuart: would it be true to say that almost all americans pay something to apple at some point every month? >> oh, yes. we're at a point where services, you know, if you look at the 11.2 billion i -- 1.2 billion iphones in the u.s., the number of people that own services, the services penetration has been growing, at some point in the next 24 months it's going to be more than 25, 26% of their revenue. you sell an iphone, you get the services and, of course, you buy accessory, that's kind of how the model works. stuart: ray, we'll be watching. thanks for joining us. lauren's got the -- here's a question.

what is the ceo of chatgpt so worried about? is. lauren: okay. it's sam altman, and he -- [laughter] he's worried that, this is so hard to get your mind around and to explain. he's worried basically that artificial intelligence can gaslight you. what the9 heck am i talking about? persuasive a.i.. the artificial intelligence being able to change the way you think. it can be as persuasive as you, a rhetorically gifted human being. and then altman goes on to say this could have is, quote, strange outcomes, although he did not elaborate on what those would be. if you think about it, if you think of the certain type of person that can be very vulnerable to the dark corners of the internet, say you become close with your chat bot, can the art official intelligence of that chat bot persuade a certain type of person to think a certain way or do bad things? stuart: it's a very interesting point. >> yeah. stuart: i mean, i can understand where this guy's coming from.

>> oh, for sure. i think the answer is, yes, that could happen. a persuasive person can convince another person of something, so in theory, a persuasive bot could do the same. stuart: watch out for them bots. lauren: it's scary. stuart: this is one, you've got this one, collins, the dictionary people. lauren: u.k. stuart: that's right. they pick the word of the year. lauren: a.i., the abbreviation for artificial intelligence. they said use of the term has accelerated because it's become the dominant conversation of 2023 and, yes, it has. >> may i just say i don't think it's fair to call two initials, a, i, a word. stuart: i agree. >> i think that's poor english, and we must strive to be better, stuart. stuart: oh, you're just -- [laughter] i'm the grammarian on this set. >> yes, and i'm with you. stuart: thanks so much, adam, lauren. coming up, let's be clear, the crushing of hamas has begun.

don't slow it down. give israel the moral and military support they need for a decisive win. that is my opinion, and that's my take and is it's coming up at temperature of the hour. the case against sam bankman-fried is headed to the jury today. if he's found guilty, could face life in jail. a full report next. ♪ and i know that i let you dow- ♪ is it too late to say sorry now? ♪ this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education.

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stuart: ah, the fate of bankman field is now in the hands of the jury. kelly o'grady outside the curthouse in new york. any idea if there could be a verdict before the end of day? >> reporter: well, stuart, there very well could be, ask and wouldn't that be the movie ending? because, in fact, today marks the one-year anniversary that an article came out last year that started all of the questioning whether something was going an -- on at ftx. the prosecution will give a roughly 45-minute rebuttal from the closing that we heard from the defense yesterday. they argue that sam bankman-fried was acting in good faith and that the prosecution was trying to turn a mass herd into their movie villain. of course, the prosecution also gave closing arguments. they systematically used

bankman-fried's words against him, and, in fact, his hail mary decision to testify seemingly gave the government the final puzzle piece to stitch their narrative together. -- they also identified times bankman-fried could have come clean, but he doubled down. he tweeted, quote, ftx has enough to cover all klein holdings, we don't invest client as sets. the prosecution then showed this chat from 3:08 that very morning proving sbf knew customer funds were missing. the jury will likely have the case by lunch, he could face # 10 years behind bars, but he could get far less based on what charges he is convicted of if he does get a guilty verdict and how the judge approaches sentencing. but we're soon going to be on verdict watch. the judge did say he wants the jury to deliberate late into the night. we hear they're getting pizza for dinner, but at this point it's kind of a wildcard.

bernie madoff, it took four days, elizabeth holmes, it took seven days. sometimes it takes hours. stuart: kelly, thanks a lot. adam johnson, on a related note here, crypto note, you own coinbase, crypto exchange. >> it's the last man standing, right? so many of these stocks have gone to zero, literally, right? silicon valley bank shares, signature bank, silver orgate capital the, on and is on and on. i think this is the survivor. stuart: you're going to hold it? >> yeah s. and what our viewers may not realize is that coinbase actually provides all of the crypto back office for blackrock, the world's largest and arguably, therefore, most legitimate asset manager in the world. stuart: how about that. >> yeah. stuart: thanks so much for joining us. see you again soon. just ahead, kansas senator roger marshall, chad wolf, kennedy and chris rufo. what a lineup. the 10:00 hour is next. ♪ and we danced all night to the

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