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tv   Varney Company  FOX Business  December 13, 2023 11:00am-12:00pm EST

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>> if you look at this on any time scale, this is an insane goal, it's an insane meeting.
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net zero is nothing short of soviet style and central planning with no good for humanity. >> this is not an accident. this is a direction that these universities have been going full tilt. i would say for 30 years, stuart, and now all the old time moderate voices of people willing to hear a different point of view are gone. ♪ stuart: christmas in the country. that's the name of the country, i believe. look at sixth avenue still deserted. lauren: it's noted on sixth avenue. stuart: it's very cold out there by the way. it is 11:00 eastern time, it is wednesday, december 13th all day long. the market withs a bit of green across the board. dow up 18 and nasdaq up 44. show me big tech though. mostly higher earlier and that's
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the saying that's true, apple reached 196 and meta at 345 and microsoft at 375 and alphabet at 132. 10 inform year treasury field -- 10-year treasury yield going down, 416 as we speak. now this. the iowa caucus-backed suspended andses are less -- iowa caucuses are less than a month away and trump can't wait. this poll snapped everyone to attention. trump gets the support of 51% of iowa republicans, up a whopping eight points in one month. that poll was conducted by salazar and considered the gold standard of iowa caucus polling. you dig into it and the results are even more encouraging for trump. among first time caucus goers, trumps gets an astonishing 63% support and that's up 14 points
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in one month. no gop contender ever had a lead like that in the race and no one ever lost with a lead like that. in 2016, trump lost the iowa caucuses to ted cruz. this time around he's ramped up his operation in the state big time. and every iowa that's ever attended a trump rally or donated to him or voted for him is hooked into an online system that constantly feeds trump campaign ads and information. he's looking for a big win and to follow it up with a win in new hampshire. okay, ni nikki haley just won te endorsement of governor sununu and win the caucuses and win the primary and trump is the party's nominee. third hour of varney starts now.
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stuart: mark tepper is with us this morning. he's not going to stay for the entire hour but he's with us on remote right over there. i want to know what's your outlook for stock market next year. should i buy now? what should i buy now to position myself for next year? >> you've got to be strategic about what you're investing in for 2024, stu. this year has been an ined criminal year and zero earnings growth, multiple bank failures and the hype surrounding ai and ozempic has us up 23% for this year. next year is a more challenging setup and atlanta gdp number has us slowing economically from 5.2% gdp growth in q3 to 1.2% in q4. you've got economic growth slowing while earnings expectations are going up and then investors cheering on the possibility of fed cuts next
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year. however, you know, history, stu, says investors should fear the cut because the average draw down from the time you get that first cut till the trough is 27% when you go back to 1970. if that holds up this time around with the first cut right now being priced in for may, that old adage sell in may might go away and may be a great game plan for next year. stuart: you're not a raging bull these days, are you? >> i'm not. i'm not. so, look, we're maintaining equity exposure and there's a lot of good things for the market. the rally broadened out over the course of the next month and small caps in equal weighted s&p outperforming and s&p over the last 30 days less focused on magnificent seven and more focused on average stock and we're maintaining our current equity exposure and not owning less stocks or owning more stocks and we're staying where we're at and positioning ourselves to own more defensive stocks and more companies with
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strong free free cash flow and combat inflation and low debt and not having to refinance at higher rates over the next few years. within each and every sector, we want to be positioned defensively so as an sample, looking -- example, look at tech sector and if you want to be defensive, own software over semis. salesforce, crm, mission critical software for businesses and they're not cutting when times get tough. mostly recurring revenue based and highly sticky customers and high switching costs to build out the platform and customize it. it's up 90% this year, stu. something we own and we'll be adding to it on pullbacks. stuart: i'm sticking with microsoft and uber so take that. thank you for being with us, mark. >> microsoft software. stuart: there you go. thank you. let's get back to iowa. the 2024 race and caucuses and new hampshire. clay travis with us this morning. if trump wins iowa, significant
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win and looks like he's going to and goes onto new hampshire, it seems like it's almost game over for the republican nomination. am i going too far? >> no, i don't think so at all. thank you for having me, stu. i hope you're having a good start to the holiday season here. i think it could be a very great january for donald trump. if he wins iowa and he wins new hampshire. probably it'll be him versus either nikki haley or ron desantis depending on how those guys do in the race. the challenge here is i don't see any way at all the math adds up for nikki haley. i think if ron desantis were to drop out of this race, most ophryon desantis' supporters would go to donald trump and if nikki haley were to drop out of the race, most of her supporters would go to desantis. desantis and there's no pathway to the nomination for nikki
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haley and what i do think, stu, if nikki haley were the nominee, she could win in a landslide against joe biden and could crush him. i think biden's weakness is the biggest store here. trump, desantis, nikki haley ryan higgins vivek ramaswamy would beat biden head-to-head. stuart: it's that bad. listen to this, hunter biden, he showed up on capitol hill and spoke to the media briefly and spoke to republicans about the impeachment inquiry with his dad and ready to do a public testimony and left without showing up to the closed door deposition he was supposed to take. what do you make of this latest development, clay? >> congress should hold him in contempt for refusing to appear and delivering the deposition. he's saying hepatos to testify publicly but that's not the same sitting for a closed door deposition and followed by a public system and what should happen for hip. he should be held in contempt for not speaking to the
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committee. second part here, it's important to note how the story is changing as it pertains to hunter biden. initially joe biden told us in fact during the 2020 campaign he had absolutely not at all to do with hunter biden's business. there's been abundant evidence he was involved in hunter biden's business and it was the biden family that was effectively the hunter biden business and now the story has changed to my father did not profit directly off of my business interests, which is a pretty substantial shift in what hunter biden said today compared to what joe biden said when he was running for president in 2020. stuart: moving away from the original statements that's for sure. thank you, clay. we spoke to ashley moody last hour and she's investigating the college football playoff organization after florida state was denied a spot. watch this. >> this was a shocking revelation to the world that you had one of these champions not make it. everyone knows that it wasn't
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right. it didn't sit right so what was done behind closed doors in the meetings. i think people just want to make sure that the winners weren't picked in a board room unjustifiably with unfair competitive practices. stuart: okay, clay, fsu was undefeated. do you think they were snubbed on purpose? >> i think the committee made the right decision and this may put me in the minority. the reason why florida state was left out was because their star quarterback was injured and there was a big dropoff to the second and third string and the star quarterback's out for the rest of the year. this has happened before in college basketball. a guy named kenyan martin was the number one overall pick about 20 years ago was playing for a team, cincinnati bear cats and broke his leg and cincinnati went from a one seed to four seed. there's no doubt that florida state is at least a touchdown worse without their star quarterback. i think the committee got it right. i think alabama and texas deserve to get in over florida state. stuart: we'll leave it right
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there, clay, because you might get argument on that particular subject. clay travis, come and see us again soon, clay. thanks a lot, man. >> appreciate it. stuart: there's a great story here about netflix. the stock is up 2%. it's a nice gain. netflix is doing something unusual. lauren: for the first time and releasing numbers and how many millions and millions around the world watch the shows. stuart: specifically which shows? lauren: 820 million watching the night watch. the point is releasing that number, it's a positive for the stock because it can help their ad business. the more data they give that means more money potentially coming from advertisers who want their content associated with all these eyeballs. stuart: yep, yeah, that's a breakthrough if you ask me. lauren: they're not growing their business as much. they're established. stuart: i want to see the list of movies that have -- and how many millions of people have watched them. hundredsof millions of people
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watch the netflix originals. that's a big number. moderna, they're down i'm sure. lauren: yeah, sharply. pfizer, a rival, cut their 2024 forecast mostly due to declining demand for the covid drugs. pfizer is down 8.3%, moderna down 5.25. stuart: not many people ketanjiing the vaccines these days. getting the vaccines these days. cow main, huge egg producer. lauren: up 9% and there's avian influenza in one of their plants and they've temporarily shut the plant in cast. analysts in stevens say outbreak could lead to increase in egg prices which is technically good for shareholders. less supply, higher prices. stuart: thanks, lauren. media is accused of being biased to the left or left-leaning organizations and media research centers say they're even more leftist than we thought. brent bozel explain it all. wind and solar on track to bring
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more in the united states. republicans are holding firm and ukraine till they get more funds for the border crisis. we'll ask senator mike braun if he's okay with that, he's next. ♪ trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab.
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i was on a journey for a really long time to find some relief. cosentyx works for me. cosentyx helps real people get real relief from the symptoms of psoriatic arthritis or psoriasis. serious allergic reactions, severe skin reactions that look like eczema, and an 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. i move so much better because of cosentyx. ask your rheumatologist about cosentyx. stuart: senate republicans want biden to get inv involved in bor talk and all they get is mayorkas and aishah whoseny on capitol hill for us. what came out of the meeting yesterday? reporter: good morning, stuart. he was here on capitol hill meeting with a variety of folks
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and according to all the negotiators, chief negotiators over this border situation, they all said that they made substantial progress but still no deal, and we don't expect a deal before the end of the week when congress is expected to recess for the christmas hol holiday. i will say seeing secretary mayorkas on the hill is visible signs that talks are back on track, at least meaningful talks and several senate republicans would rather that the president himself get directly involved here because he is the deal maker, stuart, but democrat negotiator chris murphy told me last national championship the president is not going to negotiate at least with republican negotiator james langford in person and he believes he's got the right people in the room on behalf of the white house and president. cbs is reporting that the white house is willing to negotiate on a number of different controversial things here, including expelling migrants,
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seeking asylum without a screening and expanding detention and deportations in order to curb the numbers we're seeing across the border. no. 2 democrat in the senate deck durbin is concerned about the policy asks clear now that the white house is considering things that are going to be controversial for them. as for the timing, stuart, leader chuck schumer asked both leader mcconnell and speaker mike johnson to stay here in washington so that they can pass this aid pack anl before the end of the year. >> i called speaker johnson last night and urged him to stay. i spoke to leader mcconnell right after the zelensky meeting and urged him to stay. if it's an emergency as so many republicans have said on the border and many have said about ukraine, you don't go home for three weeks. it'll be much harder to do in january. reporter: stuart, something else that's bubbling here on capitol
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hill is this discontent and frustration from the hispanic members on both -- in both chambers. they've been very critical of president biden is they're afraid he's going to cut a deal and cave to senate republicans and bring back what they call cruel trump-era border policies and they'll be talking about that later this afternoon. a lot of pressure on the president as he tries to negotiate a deal here. stuart: got it. aishah, thanks very much indeed. listen to what senate minority leader mcmitch connell had to say about passing the ukraine aid package before christmas. watch this. >> i think the speaker said to a number of people he can speak for himself, but he said for a number of people they're leaving at the end of the week. all i've said is practically impossible even though we reach an agreement to craft it. get it through the senate and get to the house before christmas. stuart: so probably not going to
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happen before christmas. senator mike braun with us this morning. are you okay with this, senator, the gop goes for the boarder and not ukraine? >> definitely okay with that and it happened about a month ago when we were clear that about 41 republicans were saying border first and other stuff second. that's when i think leader mcconnell could see where we were coming from as a conference. stu, that's never happened since i've been here because before that it would have been get the supplementals done and there's a rare opportunity here. the house has been clear and they've got hr2 out there, and the other thing, this has not been enthusiastically embraced by senate democrats or biden. if you get the inside scoop, james langford worked hard to get them talking as recently as a week ago so some of this stuff doesn't make sense in terms of
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urgency now. we'll see. but finally we're on board together. stuart: we've heard reports and put them on this program that the white house is open to new border security roles. little bit open to checking the rules. have you heard anything from the white house on this? >> here's what i can distill from this. mayorkas' rear is on the line and he's been the point person for this and he's been more active. biden politically is under water with the border now rising to equal importance with messed up economy. it's the senate democrats that have been the hardest to engage, and now i think all of it is culminating in the fact that the ball is in their court. what are they going to do with it? stuart: senator, biden is urging restraint on israel in gaza. are you okay with that? >> well, with what happened on
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october 7, i think you've got to grant the israelis full latitude to root out hamas so they're not around and i've read a bit recently about the people that leave that group. you've got to get them or else it'll fester and grow back into something. trying to be as careful as you can but they initiated it and there was no easy way to litigate it, and i think you got to get them the resources and the time to work it out. the house sent over a package that could have gone through and had a rare pay for, stuart. since i've been here, there's no package paid for and we borrow every penny. that happened around three weeks ago. that tells you a lot of where things are here. stuart: got it. senator mike braun, always a pleasure to have you on the show. see us again soon. >> will do. stuart: intelligence agencies have assessed the loss of life in the war in ukraine. to put it simply, ashley, how
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many russians have died? ashley: yeah, 315,000 dead and injured troops or if you like, nearly 90% of the personnel russia had when the conflict began. amazing numbers. the intelligence report also estimates that moscow's losses in personnel and armored vehicles have set back russia's military modernization by 18 years. remarkable. sources say that's why russia is being forced to loosen recruitment standards and deployment in ukraine and russian death tolls in the war and of course they say this. vastly exaggerated and almost always underestimate ukrainian losses and speaking of which, ukraine does not reveal the number of losses but a new york times report back in august estimated the death toll for ukraine at close to 70,000 troops. that's a lot of people. stuart: yes. ashley: yeah, there's no good way to put that.
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but the losses for russia are immense. stuart: they are indeed. ashley, thank you. back to the markets, where are we? it's all green but not by much. dow up 40 and nasdaq up 16 and s&p up 7 points. black voters made up a crucial block of biden's 2020 election win, but a new poll shows he's losing support with that community. media guide brent bozell takes it all and breaks it down next. ♪
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stuart: on the markets this morning, not that much price movement. dow is up 20, that's it. chinese hackers have two dozen high value infrastructure targets in america in the last year. kelly o'grady joins me. are we prepared to handle a major cyber attack from china? >> stuart, a lot of experts are saying no, and the fact that china is increasing the use of cyber warfare has many worried alabama the vulnerability here in the u.s.. chinese military hit more than two dozen high-value targets within the year but what they
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hit is the most concerning from utilities to transportation systems to even our power grids. nsa tells fax business "the prc has plans and intentions to target critical infrastructure and to be able to disrupt the ability to deploy and support in the event of the conflict and prepositioning with the intent to quietly borough into critical networks for the long haul. what's unique about the recent attacks is the long term strategy and chinese military hackers have already built the means to inflict serious damage. >> to attack us now and embed and leave behind the means to enter so that at the moment of an invasion of taiwan, for example, they can send us a signal by shutting down the entire texas power structure. you might think of stopping us from invading taiwan, don't. >> particularly high priority would be hawaii as its home to the pacific fleet and logistics
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sentser and targeting this headquarter would complicate sending ships overseas in a conflict in asia occurs. they're meeting today to discuss cyber concerns but, stuart, experts say we're guard against low tech threats and china has the edge on us. thank you. stuart: thank you, kelly. president of pie wan warning against china interfering in their presidential elections, which are upcoming by the way. what did you say, ash? ashley: yeah, look, chinese interference considered a very real threat as taiwan prepares to vote in a new president, which could prove to be a pivotal moment given everything that's going on. the leading candidate says that taiwan does not need to declare independence because it is already effectively a sovereign state. now, china has labeled him a accept separatist and
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troublemaker. beijing calls the election an election between war and peace. china seen an increase from bots and beijing online influencers and 40% of taiwan favor for more national independence and less than 12% back unification of china and chinese inter-fencer, bet on it. stuart: you can indeed. put your money on that. thanks, ash. new media research center study exposes news guard and that's a company operation that rates media companies. mrc exposed its leftist bias. mrc president brent bozell joining me now. brent, are you telling me that the media is more leftist than we originally thought? >> no, yeah, here's what's going on, which is interesting, stuart. for years and years and years the media has been telling the american people that they were objective when they were left
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wing, and a new conservative media is starting to emerge so now you've got this group that considers that calls itself objective making the declaration that you can trust 91% of left winging organizations but only 65% of conservatives so by 2-1, you can defend them or trust them more than you can trust conservatives. so this is just a new way to attack conservatives. stuart: i can see that. another one, we've got a new poll showing 20% of black voters would pick someone else instead of biden or trump in 2020. well, biden received 92% of the black vote back in 2020. if this trend continues, black voters away from biden, he can't win, can he? >> no, no. this is potentially catastrophic news for joe biden. according to studies, they can't win. the lowest he's ever --
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democrats ever gotten is something like 80, 85%. he can't win if he doesn't have that support. he got 92% in 2020, but he's polling right now at 71%. this is catastrophic. so 20% would vote for someone else beside biden. it's nothing to do with donald trump. trump is at double the number he was with blacks in 2020. he's increasing rather dramatically. it's biden who's being hurt, not trump, but biden if those numbers hold up, i don't think there's any way biden can win reelection. stuart: we're taking a close look at recent iowa poll, the seltzer poll as a matter of fact, we dug in and found that trump is preferred by 63% of first time caucus going republicans. that's a narrow sort of demographic, but 63% support up from 49% from that group just a few would he bees ago. that is a landslide statement.
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trump is on his way to victory. >> something interesting here. in 1996, i recall very well that bill clinton was off the national stage and got stronger and stronger and stronger from a weak position and won a landslide. donald trump seems to be doing the same thing and donald trump was on the stage every single day in 2020 and i think that hurt him. he's now not on the stage and look what's happening. his support is going up and up and up. if i were advicing him, go play golf in scott land and come back on -- scotland and come back on election day. stuart: if he wins iowa or new hampshire and he's in the lead, it's all over. brent bozell, thank you for joining us and we'll see you again soon. good man. coming up, two-thirds of portland's residents say their city is on the wrong stack and blame crime, homelessness and what's the solution? change leadership? leave the city? we have the story coming up. all eyes on fed chair powell this afternoon and expecting to
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hear that rates will hold steady, but investors want to know when we're going to get rate cuts. edward lawrence has the latest on that from washington, next. ♪ reliq health is a digital health company targeting the $100 billion virtual care market. reliq is rapidly growing with customers
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stuart: well, let's get back to the latest on hunter bind. he could be held in contempt of congress for refusing to show up for a closed door deposition this morning. forming acting attorney general matthew whitaker is with us now. is hunter in real trouble here, matthew? >> yeah, this is an interesting calculation for his team. obviously there's two fronts they're trying to fight. they're fighting the public relations front, political front and have legal battles going on. i will tell you for hunter
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biden, the risk is much more on the legal side. for joe biden, the president of the united states, the risk is more on the political side. how i would say they calculated this is that contempt of congress not showing up and ignore ago legitimate subpoena is a misdemeanor and peter that varicose veins row and steve ban bannon charged with that and six felony withs the gun and tax case and one more misdemeanor is probably worth the risk knowing that his father's department of justice is probably unlikely to bring that charge, which is too bad, but i think that's the reality of this two-tiered system of justice, stuart. stuart: we're told there's going to be a vote on the impeachment inquiry early this afternoon right after 12:noon. that's what we're hearing. that vote, if successful and they go forward with the impeachment inquiry, that would
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bind the president and hunter together in the impeachment process, wouldn't it? they're together in this scandal. >> yeah, it would. obviously hunter biden would be witness number one, but if he's just going to ignore congress and their legitimate authority under the constitution. i think that calls into real question on what is the biden family hiding and the impeachment into the president and would be on this course of transactions with involving all the l.l.c.,s and all the foreign money from romania and ukraine and china and elsewhere we've talked about before, stuart. you know, i think this vote is going to be significant and puts more teeth and more power into a congressional subpoena, but at the same time what is really at stake here is ultimately whether or not joe biden was involved at all in his son's transactions, and we saw hunter biden say essentially he was involved and not just you'ved financially. that's an interesting line to
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watch as you can imagine. stuart: seems to be coming back and said initially i had nothing to do with my son's business and i have nothing to do financially with my son's business. that's a significant walk away, isn't it? >> yeah, it is and he knew nothing about hunter's business dealings he said. he was unequivocal in the 2020 election. we are so far from that and the peninsula they continue to step out on, there's more and more water surrounding them and less and less dry ground so to be very interesting as this inquiry proceeds, if congress votes for it, where this ends up with the evidence that they're going to be able to turn up. stuart: just to be walk the plank. now it's expanded to walking down a peninsula. matthew whitaker, thank you for joining us on short notice. we appreciate that. >> thank you, stuart. my pleasure. stuart: check the markets, please. i see green but not much. the dow is up five and nasdaq up
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17, and s&p up 6. remember, chairman powell will be speaking this afternoon. that might make a bit of a difference. check out big tech, please. earlier had them all up and they're still up except for alphabet down 28-cents. the 10-year treasury and yield going down and still going down 415 is the yield. bitcoin last time we checked was 48,000 $41,000 and change and now 41.8. we get the fed decision at 2:00 this afternoon and rates are expected to hold steady. edward lawrence joins us. powell speaks at 2:30 and everybody is going to be watching every word to see if he implies rates are going down; right? >> yeah, and probably not. we'll not get that indication. the fed chairman has not messaged any rate cuts. what we'll be listening for is that the fed chairman continues higher for longer message he's had for the past year and markets have been brushing that off and they believe there may be rate cuts as early as may of next year just like the markets
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for the past two fed meetings overwhelmingly signaled the fed needs to pause and fed did pause and last month i asked richmond fed president about the markets leading the fed. >> i prefer to think of it as different forecasts on the economy and if your more optimistic than i am or pose mystic on the economy -- mesomystic, maybe that -- pessimistic, maybe that leads you down a different path. i see inflation being stubborn and makes the case for me being higher for longer. >> he's a voting member next year and what the fed chair is looking at an economy that created 1 # # thousand jobs in -- 199,000 jobs in november and averaging 244,000 months for the past twelfth months and inflation slowly ticking town and core inflation basically moving sideways on the other side the fed is looking at more than a trillion in credit card debt and savings rate going down and consumer pinched still market experts are con
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syringessed, listen. >> we think that they'll cut three times in 2024 and mainly because the fed does not want to make the same mistakes they did in the late 70s or early 80s and they'll play it as they see it and right now our belief is, yes, rates will be coming down. >> we'll see what the signal is and i'll give you the decision at 2:00 p.m. eastern today. stu. stuart: thank you, ed. looks like renewables are on track to produce more power than coal. that's interesting. ly, is that accurate? ashley: let me preference with according to the government. and latest data they say that electricity generated from u.s. solar and wind systems will surpass power produced by burning coal for the very first time next year. coal will produce about 599 billion-kilowatt hours in 2024 down from 669 billion this
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year as utilities continue to close coal burning power plants and meanwhile developers are expected to install 23 gig watts of solar capacity this year and an additional 37 gig watts next year making it the fastest growing source of new generation. now, government data says wind and solar will supply combined 688 billion-kilowatt hours of electricity up from 599 billion this year. again from the government. stu. stuart: got t i understand entirely, thank you, ashley. what have we got coming up on the show? first, i will show you the dow 0 and get a sense of the market. can we do that? i'm not sure. no, we're out of time. more varney next. each planning their future through the chase mobile app. hellooo new apartment. one bank for now. for later. for life.
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her husband had passed. and that he took care of all of the internet connected devices in the home. i told her, “i'm here to take care of you.” connecting with kim... made me reconnect with my mom. it's very important to keep loved ones close. we know that creating memories with loved ones brings so much joy to your life. a family trip to the team usa training facility. i don't know how to thank you. i'm here to thank you. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio.
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hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. stuart: here we go, market check for you. i have to say it again i'm afraid. there's not that much price movement this morning. you could get movement this afternoon after we hear from jay powell and future cause of interest rates but at the moment it's not moving much. got a cautious pause. 10-year treasury yield and no cautious pause and yield is going down 4.15%. four or five weeks ago and close to 5% and price of goal dropped
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below 2,000 an ounce and at 1997 right now. bitcoin below 42,000 per coin and 41.8 to be precise. price of oil dropped below 70, 69.52. and nat gas at 238 per million british thermal units. what i'm interested in is the price of gasoline keeps oncoming down ever so gradually for about two months now and gas has dropped one cent a day and now down to $3.12 a gallon and national average for regular. if you go to state of texas, you can buy gasoline for $2.69. diesel coming down as well. off two cents overnight and major part of inflation has always been gas and diesel prices. they are coming down and bodes well for inflation in the future.
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ashley any opinion on this of gas prices going lower still? ashley: certainly lower than $12 in texas. i can tell you that. it's certainly seeming that way, sorry. certainly seems that way barring any major calamity in the oil market and prices at the pump have fallen for 12 would he bees to hit the lowest point of the year and one year ago a gallon of gas costs $3.24 and one month ago up to $3.36 and today it's down to $3.12 and prices at the pump could continue to fall to the lowest level in 30 months by the weekend and the national average could be well below $3 a gallon in january. by the way, already gas prices averaging less than $3 a gallon in more than 20 states rite now especially in the midwest south in parts of the mountain west despite opex promise to cut supply and oil prices are falling as record u.s. production collides frankly with the weakening economy in china and we win at the pumps. stu.
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stuart: forgive me for making a small correction, ashley, but it is 11 states with gasoline price below $3 a gallon. i counted them every morning. i want to see the number of states below $3 go up and i'm counting that will happen. in is for you too. ashley: i bow to you. stuart: not necessary. governor ron desantis just asked federal judge to dismiss disney's free speech lawsuit. what is this all about, ashley? ashley: yeah, the attorneys for desantis argue this case should be dismissed claiming the governor of florida is basically immune since he doesn't enforce any of the laws that removed supervision of the government from disney. disney meantime claims desantis used state powers to punish the entertainment joint in violation of the first amendment and this whole feud began if you remember last year when disney opposed the state's so-called don't say gay law and in fact those words never appeared in the law but disney and december appointee --
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desantis appointees are battling this out in a state court lawsuit in orlando over control of the district. disney basically claims desantis abused free speech by criticizing disney and taking them to court and taking away their government and this being resolved by now in it's not, slierly, stu. stuart: why am i not surprised by that, ash? the wednesday trivia question and which city is known as city of fountains? orlando, kansas city, sacramento or pittsburgh? i would have said rome if we did the whole world. your american options. the answer when we return. ♪ rsv is out there. for those 60 years and older protect against rsv with arexvy. arexvy is a vaccine used to prevent lower respiratory disease from rsv in people 60 years and older.
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stuart: a pretty good question. we asked which city is known as the city of fountains. i was saying if it was worldwide i would say rome but this is just america. who do you pick? ashley: i have no idea. let's go with sacramento number 3. stuart: i will go with pittsburgh, number 4. the answer please? kansas city, missouri.
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there are 200 fountains in the city, 48 are public operated, the city host found a early year in early april. it was quite spectacular. first thing this morning hunter biden arrived in dc, he did not go before closed-door meeting how he jumped into his suv and went away. he could face potential contempt of congress charges. in a couple hours there will be a vote on impeachment inquiry in the house of representatives. if they vote yes, there's going to be an inquiry that puts president biden and hunter biden together in a new scandal which will run through the election process. as we leave you there' s not much price movement in the stock market, we are waiting for jay powell to testify on rates this afternoon.

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