go to, so lots of options. >> it's definitely on the rose. i've seen an increase on menus for non-alcoholic mixed drink versions and a bunch of elixir type companies coming out with alcohol-free replacements in beverages. cheryl: yeah. >> the trend is on the rise. cheryl: real quick, john, last word. happy new year to you. >> happy new year. the question is, is are you with ever had anybody show up for this show with a hangover? cheryl: yeah. [laughter] i am not going to call anybody out, believe me. in the eight years i've been doing this show, yep, i've seen a couple of people come on not feeling so great. very true. guys, thanks so much for being here with me today. all right. it is the first trading day of 2024. stuart varney is back, happy new year, mr. varney. it's great to see you. stuart: and happy new year to grow, cheryl. and good morning, everyone. welcome to "varney & company," the first show in 2024. you know, we do politics, we do

money. but we're starting with a remark remarkable story from tokyo. a commercial plane with nearly 400 people onboard collided with a smaller japanese if coast guard plane as it landed. you can just see the landing there and that ball of flame. that's a plane carrying nearly 400 people. five people on the coast guard plane have died. as you can see, there was an explosion. later there was a dramatic fire. the whole plane burst into flames. here's the holiday miracle, all those near 400 passengers and crew on the japan airplane as escaped unhurt. miracle. you'll see more of this hater. now, you want to know how your money is doing as we start the new year. some selling today but, remember, we're coming off a great year for stocks, 2023. the dow looks like it's down about 200 and a significant loss for the nasdaq, down 170 points. nasdaq last year had the best year since 2003. not this morning. here's the interest rate picture. the 10-year moving up close to

4% now, up 9 basis points, 3.96 right now. and the 2-or year back above the 4.25% level, that too is up 9 basis points. you're at 4.34. that's why the nasdaq is down so much. investors, though, buying cryptos. bitcoin rallying to $45,700 this morning. gas, average is $3.10. by our calculations, more than half the states are below $3 a gallon right now. diesel, that's below the $4 mark. i'm looking at $3.97 right there? no -- yeah, $3.97 on diesel. politics. dreadful polling news for the president. he's losing a lot of ground with black, hispanic and young voters. without hose constituents, a democrat can't win. dreadful news for the president from the border. 302,000 people crossed in december alone, 785,000 since october the 1st. at this rate, another 3 million

will awe arrive before the election. this is becoming an election issue that ranks right up there with the economy. on the show today, an iranian warship arrives in the red sea, a confrontation with the u.s. navy is getting close. and what was that about good cholesterol? a new study suggests that all that good stuff the increases the risk of dementia. have a nice day. our own jeff flock is driving an electric car 800 miles from chicago to new york. how's that going in enough reliable charging sayingses? tuesday, january the 2nd, 2024. here we go, "varney & company" is about to begin. ♪ ♪ ♪ i won't back down. ♪ hey, baby, there ain't no easy way out ♪ stuart: i'm inclined to sing along with this one.

don't back down. the late and great tom petty. actually, just take a look at that, that's sixth avenue, new york. normally, before the pandemic that would have been jam packed, but it's tuesday, back to work for the new year and the place is deserted. what does that tell you? we're going to kick off 2024 with the latest on this year's election. a new suffolk university poll shows biden trailing trump by 32 points in a hypothetical -- 2 points in a hypothetical rematch this year. when you chuck in a third party candidate, trump is up by 32 points. -- 2 points. leading in key demographics, among voters younger than 35, trump leads biden 37-33. among hispanic voters, trump wins 39 percent if versus biden's 34 percent. these were two key areas of support for biden in 2020. come on in, david avella. it seems to me that trump's gaining ground as the court cases progress against him. the democrat strategy seems to

be backfiring on all fronts. i don't know where they're going with this. tell me. >> stuart, it's a new year, and i haven't seen you since last year, and yet the democrats are none the wiser. this election is not complicated. voters, you point it out, voters are concerned about what's happening on the border, and they're concerned about the economy. the best thing president biden could do is start working with house republicans to get some victories out of congress. that would be one thing democrats could do. second, they could have the democrats who were pinted to the supreme court -- appointed to the supreme court all vote 3-00 that the colorado -- 3-0 that the colorado supreme court decision get overturned so that it is without question what the democratic supreme court in colorado did was unconstitutional. stuart: no matter what they do, can the president and the democrats turn this thing around? >> oh, sure, they can the turn it around. stuart: really? >> do what we just talked about, get a supreme court decision

that says the colorado was unconstitutional and have a president start working to actually move on the two the issues we just talked about. you know, the best thing he could do is close down the border -- stuart: he's not going to do that. it's too late. >> well, you're saying can he turn it around. that would be step one. and, step two, he would have to go against his every instinct and actually let free markets work and make sure that wall street and the economy are strong so that people could start feeling better. his biggest problem as we have talked time after time is americans believe it's what he has been doing that is why we are where we are. if he were to move in a direction that addressed the two big issues, he'd have a chance to win this thing. but it would require him to go against his very instincts and core beliefs. stuart: some prominent democrats are coming to biden's defense. after all these very poor polling numbers. they think he's being

underestimated. that's what i hear -- that's that when i see in the needle -- what i see in the media all the time. the respond to that. >> he's not being underestimated. people know exactly why they don't like president biden. may believe it is bide mom you can es that have the economy where it is -- bidenomics. they know it is his border policies that have us talking about as a national issue our border at a level that we haven't seen since 1803 when thomas jefferson signed the louisiana purchase and we doubled the u.s. in size. this is an issue that's not going to go away for the president, and yet he doesn't seem -- though we have seen some recent actions, he's not going to take the steps he really needs to to turn this thing around, but he could. stuart: okay. the republicans have an opportunity to win back the senate this year. they only need to flip two seats. that's my understanding of this. senate republicans focused on races in west virginia, montana and ohio. all of which trump won in 2020. they're also targeting five

swing states that biden won by 3 points or less, michigan, pennsylvania, arizona, wisconsin and nevada. can the republicans take the senate this year, david? >> absolutely. particularly if biden continues on this path he is. and who does it hurt the most? let's talk about the senate specifically, and you talk about jon test e -- jon tester in montana. he has won every time in very tough races because he has portrayed himself as a conservative back home. if he could get biden to do things conservatively on the border and allow free markets to work, he could continue telling voters back in montana how conservative he is. if biden continues to push him to the left, it becomes harder. and as you know, it doesn't take a whole lot. we're already picking up the senate seat in west virginia, dems don't even have is a candidate. now you're looking at montana and ohio. of those two, probably montana gives us a better shot, but we'll see what happens in ohio.

that's an equally strong opportunity to knock if off sherrod brown, a longtime champion of progressive causes. stuart: for those of us who really love politics, 2024 is a wonderful year, isn't it, david? we're going to have some fun, i do believe. thanks for being with us on this tuesday morning. see you again soon. check the markets, please, i'm afraid i do sew -- see rom red ink on -- some red ink on this first trading day of the year. scott shellady, my money is in stocks x that's where it's staying in 2024. how wrong am i, scott? >> oh, if you're in out for the long haul and you've got the risk to handle it, that's fine. a lot of folks will be there. they don't shop and change and kind of trade the market, more investment in market. but i think it's funny because the narratives -- that was a great santa claus rally. the indices roughly, last time i checked, the dow was up 14% last year, 24 percent on the s&p and

44% on the nasdaq. are you expecting those gains again this year? that would be pretty hadty if you asked me, number one. we have a lot of money on, quote-unquote, sidelines invested in whatever the folks invested n. i think once that starts to expire and roll over and they have a chance to put that money in the market, there's a lot of pundit cans that think, hey, with that amount of capital on the sidelines, we're talking trillions of dollars, that's going to underpin rates especially with the narrative coming from the fed. but how invested are people going to want to be if that market does start to tail lower in are they going to peel out of those investments and and want to put their money in something that's dropping? are they going to want to catch that falling might have? a lot of things i thought were going to happen last year did not come to fruition. we have a recession on main street, we don't on wall street. it'll be interesting to see when and if those things cross. stuart: you brought along one

stock pick, a stock that you like for 2024. you think it's going up, and that is amd, advanced micro devices. make your case, scott. >> well, i love artificial intelligence x stuart, i've been talking about for 30 years what's the next thing that's going to get this economy, our balanced budget here going. because the last time we had manager like this was the dot.com era, and we haven't had anything come along since then that gave me that feeling that,s hey, this is manager different. i want to be -- something different. i want to be involved in a.i., but i can't bring myself to buy manager that's 230% already, so i'm going to buy something that's only up 100% upon the -- on the year, and that's amd. i'll slowly but surely pick at it. stuart: are you in it now? am, the? >> no, i'm not in it yet. i do not own it now. stuart: full diss close your. -- diss closure. scott shellady, happy new year.

shocking footage out of japan. fire e fighters are battling a small fire after a japan airlines flight collided with a coast guard plane. the commercial plane burst into flames on the runway. amazing, all 367 passengers, 12 crew members evacuated safely. but japan's coast guard confirmed that 5 members of tha. firefighters still trying to put that fire out. it was an extraordinary event, the video is remarkable. we'll show it to you. all the developments as they occur on this show coming ultimate. now, check futures, please. the are red ink is spreading a bit, down 1 is 60 on the nasdaq, down 200 on the dow can. the matter of -- majority of both republicans and democrats want the economy to be the biggest topic this year. over 300,000 migrants crossed our southern border in december line. that's a new record. -- alone.

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♪ ♪ stuart: it was a record month at our southern border with. 302,000 my grant encounters in just december alone. grady trimble is at the white house right now. biden's back at the wows tonight. does he are have any plan to address the border or crisis? >> reporter: stu, we're not expecting any announcement related to the border, though the president did declare

january human trafficking prevention month. critics of the administration point out and say that those record numbers you just mentioned highlight how big of a problem human smuggling is at the southern border. you mentioned that in december migrant encounters hit an all-time high, they also hit more than 785,000 in the fist three months of the new fiscal year which started october 1st. but this morning white house press secretary karine jean-pierre says it's republicans who are the problem. >> we want to come up with a bipartisan agreement, but we saw what the house passed or ending of last year, hay wanted to take away -- can they wanted to take away law enforcement folks who are at the border trying to protect our border. so that's not what we want to see. we want to figure out how we work together. >> reporter: house republicans say the biden administration could get the border surge under control almost immediately by enforcing current laws.

they also say the administration needs to aggressively go after drug cartels. >> we need to look at the cause not just at some of the -- the problem ifs, but the cause which is mexican cartels. and in not looking at them as, you know, foreign terrorist organizations and being able to use our nail, we are in a wartime scenario at our border right now. >> reporter: the record migrant encounters at the border could give republicans leverage as those talks in the senate continue. stu? stuart: got it, grady. thanks very much, indeed. national border patrol council vice president art dell cueto joins me now. i want to comment on one thing we just picked up from karine jean pier, the white house spokesperfect she says it's the republicans' fall. you want to deal with that, art? >> well, you know, it's strange because the last administration had it under control, and day one of this administration taking over is where you automatically saw the numbers go up. and i'm talking day one. it was from one day, all of a

sudden you got your first 300 group, 300 people in one group. this administration has done nothing to help, and it's been disastrous over the last three years. stuart: well, art, as we've been reporting, border patrol saw 302,000 encounters in december alone. i want to know if there's any sign at all that the flow is slowing. >> absolutely not. and i'll tell you why, because when you start looking at those encounters, the majority of those individuals got released. all they had to do was ask for asylum. there is no consequences. the world is out that, hey, come across, ask for asylum, and you get released. they all carry a document in their portion it's a handwritten note that they turn over to agents that shows where they're going, who their pop sor is and a phone -- sponsor is and a phone number. they're not scared to give you the address, because they know no one's going to detain them and at the end of the day, they're not going to go after

them. look at all the people who have come over the the last three years, and ask this administration if they know where the individuals are that crossed the first year, and they will not give you an answer because they have not kept track of these individuals. stuart: border patrol says some migrants are using fake passports to pose as minors. why would they do that, and what do you know about this? >> well, they realize that when they hoe a fake passport or they show that they're miners, it's easier to get released because the detention time is less. so they continue to do that. this is something that's been utilized many, many times, they've been doing it for years. they'll come aloss -- across, and it's a fresh, new start for them. if there's anything to in our -- nothing in our database, they can give whatever name they have, give an age, and they know they can start a completely new life here in the united states. that's why they continue to do it and, again, this administration has zero consequences for that happening. stuart: migrants are getting dropped off in new jersey, and they're taking trains to get

into new york city, and the new york major, adams, restricted bus a arrivals last week. art, big cities are just getting clobbered by this influx, but they call themselves sanctuary cities for decades. they really can't complain, can they in. >> they can't complain, and they continue nod to do -- cannot to do anything about it because they point the finger at, you know, individuals that are trying to protect our nation's borders, and who they should be pointing the finger at is the administration. they created this lawlessness from day one. stuart: art del cueto, thanks very much for being with us on what is becoming the most important election issue of the year, that's my opinion. art, see you again soon. >> thank you. stuart: california has become the first state to offer health insurance to all undocumented migrants. the new year marked the first day that all migrants qualified for medecal, california's state-sponsor health insurance program. who pays? california already has a $of 68 -- $68 billion deficit.

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stuart: first trading day of the year, 2024, some red ink on the left-hand side of your screen. mike lee joining me this morning. first off, mike, i want to talk about bitcoin. why has bitcoin got to $45,000 as of today? why the rally? >> stuart, the etf approval is imminent, at least that's the speculation. and once it's available from an etf from company like van ec and blackrock and fidelity, it's just a lot easier for a lot more people to buy. so it's going to introduce this, you know, cryptocurrency to an entire new class of people that were unwilling to open up a cryptocurrency wallet online. stuart: so it's as simple as that. it's like buying a stock almost. you buy a piece of the etf, you buy it, you feel it instantly, whatever you like. it's that easy. that's the attraction here, right? >> yeah. because when you open a

brokerage account, you have something called sipc, insurance against frawpped to a half a million dollars per account whereas you've seen the scandals like tfx -- ftx and other cryptocurrency place, they might just run off with your holdings. well, that's not going to happen, and there's 15 of them pending for bitcoin etfs right away. it's going to create a scurry of buying and make it a lot easier for people to speculate on that asset. stuart: before you leave the summit, would you be tempted to buy any crypto as of today? >> oh, yeah. absolutely, stuart. and and i don't know if i'd call myself a crypto guy, but i'm definitely bullish on bitcoin just because this etf approval is coming as well as the endless money printing from or our government. the bull case is really playing out for the cryptocurrency.

stuart: okay. what's your stock market outlook for 2024? >> great question. i think for the first quarter or maybe two or three we're in for a rally. there's a lot of momentum behind this market based on a pivot from the federal reserve. many are claiming a soft landing or success in their fight against inflation. i think that pivot is coming from economic weakness, and so i think at some point the underlying economy and the stock market, those realities need to meet each other. but for right now i think we are definitely in a bull market. you have, like, the industrial sector touching on absolute all-time new highs, all major indices hitting on all-time new highs. new highs normally beget more new highs, so a lot of momentum behind this. i think we're going to keep running. stuart when you first came on the hoe i guess it was four, five, six years ago, we used to call you the raging bull.

are you a raging bull again now? >> in the short term. i do think this rally will up run out of steam, and at some point this year we're going to be mixed until the election. even though i see bad things ahead for the economy -- [audio difficulty] i think the market is likely to run out of gas versus correct materially. and then, you know, if the election goes the way of the former president versus the current president, i think we're off to another multiyear rally. stuart: interesting. mike lee, thanks for getting back to us. always appreciate it. hope to see you more in the new year. you're going to stay there, some commentary as the market opens. thanks very much, mike. the opening bell is 10 seconds away, so we always show you this shot. nasdaq, big board that's what we show you. the little lady will maybe press the button -- i think the youngster's going to have the honor, maybe. somebody's going to press it. there you go. the opening bell has rung, and and i'm afraid we've opened

sharply on the downside. the dow industrials down about a half a percentage point. that's not a huge selloff by any means, but you're 176 points down. please look at that level, 37,500. and that's on a down day on a tuesday morning. the s&p 500 also a opening, of course, take a look at that. i'm sorry, there's the dow 30. there's a preponderance of selling, obviously. i only see six or seven stocks up. the s&p down half a percentage point, that's 26 points. and the nasdaq composite, which had a fabulous 2023, best year since 2003, it's down .89 percent right i now. that's because treasury yields have gone up. the nasdaq always responds with some selling when that happens. how about big tech? all represented on the nasdaq, of course. and only one of them is up, and that is amazon up all of six cents. microsoft, meta, alphabet, apple all on the downside. apple actually dropping below

$is the 0 a share. $19 0 a share. tesla la reported, 485,000 deliveries in the fourth quarter bringing the total of the whole of 2023 delivering 1.8 million cars. that's why they're up in a a generally down market. mike lee's still with us. you know, those delivery numbers, heir pretty good. they're brit good. -- pretty good. that's a very good number for tesla, isn't it? >> yeah, it is. and since tesla was cash flow positive several years ago, you knew it was just an engineering problem to where they could expand, expand their production and sell more and more cars. this cyber truck is going to be huge. i think the stock is overvalued, but i would not short it. i'd say that's, like, sticking your hand into a fire. but, you know, they're not going anywhere. they're the dominant electric vehicle maker not because of

government incentives, but because they're cool. stuart: i just want to point this out, quite a few electric vehicles lost their eligibility for tax credits after new rules went into effect in the new year on sourcing of the batteries. so that's to be considered with other electric vehicles. move on to other stuff that's moving this morning. doordash. the financial times, a british business pub ifliation -- publication, they report that the company wants to expand beyond its core restaurant business with. the stock is down a buck, that's 1%. mike, do you think they'll expand into something like retail maybe or groceries? >> you know, stuart, that would make a lot of sense for them. this stock was up spectacularly last year, and it's the trading at a multiple of sales, and all they really are is a delivery company even though there's some tech involved in it. but, you know, i think they gotta do a lot for this stock to get on my radar. stuart i tooth okay. barclays, they just downgraded

apple. ooh, who does that? they now consider them underweight. first time they've done that since 2019. they're warning of cooling iphone demand. you still like apple? would you pick it up below $190 a share? >> yeah are, absolutely, stuart. i think the story with apple though is their services. this is a $100 billion business growing at over a 20% clip on an annual basis with astronomical margins. i think iphone demand, you know, you have such a massive base, and the upgrade cycle that continues to slow, but it's not going away. and so i'd say again, you know, downgrading apple is a brave move -- [laughter] especially in kind of the bull run market we're at right now. stuart: yeah. who downgrades apple? well, they did. all right, oil companies are getting something of a boost from a jump in oil prices this morning. there's fierce of supply disruption -- fierce of supply disruption following the attacks

in the red sea from houthi rebels. would you put some money into oil, mike lee? >> yeah, stuart, i think this is an opportunity to lighten up. i see slowing demand worldwide coming forth throughout this year. we are in a slowing global economy even with with a bull market, and if that -- these types of opportunities are good ones to reduce some of the large gains if you've been investing in oil stocks over the last couple of years. stuart: you brought some stock picks. you've already gone through amd, but you also like google and microsoft. let me guess, you still love them as a.i. plays, correct? >> yeah. stuart, yes. and here's why. it's -- most of corporate america, worldwide corporations have barely invested yet in artificial intelligence. and what that does is, and when you start investing anytime, you need quite a bit of computing power. where are you going to put all of this computing power? your garage, your mom's basement? no, you're going to put it on

the cloud, all right? microsoft and google dominate the space. data continues to grow at an exponential clip, and you need some place to process it, to put it, and everything that you do can be integrated with all hair different services. so, yes, i continue to like this a.i. into the cloud play. a.i., as a percentage of global tech spend, is less than 3%. so for that to go to 5-6 is going to be meaningful to all these companies. stuart: and you extend that a to the chipmakers. you've told us about amd, you ebb tend it -- extend it to all the chipmakers because they are an a.i. play. >> absolutely. as company start to invest, you can't buy all of your supplies and all of your parts from one single vendor. so amd and marvell technologies are the two to pick up kind of the slack there. so if nvidia's going to be a 90% market share from 98 or 99,

these two other chipmakers are going to pick up market share. it's going to be meaningful to their top and bottom lines. and this is the beginning of what i think is a decade or multi-decade-hong trend in terms of -- long trend in temples of tech spend. these guys are making money right now, it's going to be an easy profits for these companies and investors over the next couple of years. stuart: mike lee, thank you very much for being with us on this first trading day of the new year. thanks, mike. check the big board, please. we were down, what, well over a hundred at the opening bell, now we're down 65, 67 points. the level, 37,600. do we have a list of dow winners? i'm sure we do. put 'em on the screen, please. yeah, walgreens boots alliance, verizon, procter & gamble, amgen, j j&j make up that list. s&p 500 winners, who's on the top? moderna. diamond reaction tap tries -- tapestries, marathon, oil doing

well. nasdaq winners, are there any? with the nasdaq down 100-odd points, there are some winners. diamondback energy, baker hughes, dollar tree on that list. coming up,up iran is sending a warship to the red sea after america's navy destroyed three houthi boats. will there be a direct confrontation between the u.s. and iran? we'll answer the question. jeff flock taking a road trip in an electric vehicle. he's going to begin the 800-mile drive from chicago to new york city in our next hour. we'll deal with that. he'll show you how he's doing. the white house says the economy will see real momentum this year. roll tape. if. >> if you actually look at a the trend in the economy, the strength of consumer spending, real wage gains for nine months in a row year-over-year for mid-level workers, i think you see some real momentum getting us a good start for the new year. stuart: where does larry kudlow

think this economy is going? larry is next. ♪

stuart: twelve minutes into the trading session, the dow has come back a little bit. it's down 79 points now, but i'm afraid the the deevent of the nasdaq continue, it's down 211 points, big drop there. apple if microsoft, by the way, they're both dow stocks, they're both sharply lower, and that's shaving 70 points off the dow. in other words, without microsoft and apple, the dow would be virtually dead e flat. president biden returns to the white house tonight after a his week-long getaway in st. croix. peter doocy is there. what big issues does biden face now he's back in the white

house, peter? >> reporter: stu, as the president gets ready to come home, his re-election campaign is starting the new year telling us with president -- with joe biden in the white house, every day is a good day for america's middle class. but as we know, he's not 59 the white house every day. he's been away about a 37% of the time according to "the new york post"'s tally. now, the house speaker, mike johnson who with at some point the white house is going to need to sign off on some key ukraine and israel funding deals says president biden needs to stop vacationing and take immediate if steps to stop the now of illegal immigration into our country. our nation's security and sovereignty depend on it, and the american people demand it. it is an election year, so presumably it's going to be tougher for the president to get away as much, but he is already teasing another trip to st. croix. [no audio] >> reporter: mr. president, what's your new year's resolution, sir?

>> [inaudible] >> reporter: create e voting -- key voting groups with not -- are not impressed. 20% of hispanic and black votersers or are breaking for third party candidates and 211 -- 21% of young voters also now breaking for third parties. >> in 2020 the president was able to bring together the most, the largest, most historic coalition are that a we've ever seen, that democrats have ever seen. so, obviously, we want to continue that. what we've done for the black community and the latino community, black community when the president walked in, unemployment was at 9.2 percent, now it's under 6%. that's because of bidenomics. >> reporter: it is the first day back at work in the new year for many americans but not president biden. he and the first family not scheduled to get back tonight until 9:55, stu. stuart: big night. [laughter] for me, especially. see you again soon.

the white house says they've got real momentum to lower costs in 2024. roll that tape, please. >> i got two words for you, mike, lowering costs. lowering the cost of insulin, make sure that the measures that this president legislated to keep down the price of prescription drugs, of health care coverage, to continue fighting against junker fees whether they're at concert events, airfares, banks, hotels, to continue to build on this progress progress we've made in not just lower inflation, but actually lower costs in key areas of consumer spending. stuart: all right. larry kudlow is with us this tuesday morning. already, larry. bernstein says we're going to get lower costs and the economic has momentum. do you see it that way? >> well, look, i think the economy improved. most of their optimism is for the third quarter. you know, better gdp number. and the stock market did very well. and interest rates came down. so, okay. but the problem isover the whole

course of biden's presidency, which is what people feel, they don't have lower costs, they have much higher costs. and their affordability has plunged. and that's why his economic performance numbers are somewheres around 30%. some polls 25, other polls, i don't know, 34, 35%. i mean, look, let's take the cpi. the cpi has come down, sure. but if you go back the revel of the c -- the level of the cpi +17% since he took office. gasoline has come down, thankfully, but it's still up 20%. i'm sorry, 30%. groceries, up 20%. new and used cars, up 20%. airline fares, up 30. this is the stuff that biden's fighting. wages after these are cpi increases are still falling over the three years by about 3,

3.5%. and, you know, another number. post-pap dem you can e, post-pandemic which is '22 and '23, you know, even with a good third quarter gdp -- not that people buy or eat gd if p, but gdp for an economist, 1.7% annual rate for the last two years. and the cpi, about 6% annual rate. so i don't want to diminish the improvement of recent months. my friend, my old friend jared bernstein is correct. but the problem is the biden track record, the actual performance over the course of his administration means lower affordability, higher prices, slower growth. and, stu, one other thing. everyone's looking ahead, i know, we've got an election year and the economy's going to be a guy gantic issue, as it must. economy and border, i think. but the point is you've got the leading indicators in the conference board down 20 straight months. now, maybe that business model

doesn't work anymore, but it sure doesn't spell soft landing or great growth. the treasury yield curve is upside down -- stuart: it is. >> that's been the case also, i think, for 18 or 20 months. and the manufacturing part of the economy is negative. it's been negative for well over a year. so i just -- stuart: the momentum ain't there. >> i know. we're going to fight this out and duke it out and blah, blah, blah. i get that. [laughter] but i would say to my friend jared, it ain't -- it's not what a you hope it is, at least not yet. stuart: 2024's going to be a great year for those of us who are really interested in markets, the economy and, yes, politics. [laughter] larry kudlow, all good stuff. watch you at a 4:00 eastern on "kudlow" right here on fox business. thank you, march roy. coming up, return fraud. some companies are turning to artificial intelligence to combat that. the names of more than 170 people with ties to jeff arely

epstein expected to be revealed today. bill clinton could reportedly be mentioned more than 50 times. that report is next. ♪ ♪ the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation.

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stuart: jeff isly epstein court documents will be unsealed this week. over 170 people are expected to be named as having ties to epstein 's criminal enterprise. eric shawn with me. we understand that bill clinton is, he's on the list. who else? >> a lot of names, stu, this morning are probably waiting to see if they're going to be named. we don't know who else is on the list because the information has yet to be released, but reports do say that former president bill clinton as well as donald trump and prince andrew could be among the many bold-faced names we could see made public today. a as you said, the identities of more than 170 people try -- tied to jeffrey epstein will be revealed in the wake of one of the lawsuits accusing him of trafficking d sex trafficking underaged girls. there is no legal justification to still keep the names of epstein's friends a secret. among them are a lot of business

associate, socialites, celebrities and many other prominent people. former president clinton is mentioned 50 times in the papers. previously he was called john doe number 36. but they say there's no indication in the sealed records that they contain any evidence of illegal conduct by mr. clinton. the documents we're waiting for to be released are a part of that settled lawsuit from unof epstein's ausers -- accusers, virginia gulfly. she claims she was sex trafficked starting when she was 16 years old after meeting 2003 lain max ifwell at a mar-a-lago. the lawsuit against prince andrew claimed she was forced to have sex with him. he he denied it and settled that out of court two years ago. old flight logs name mr. clinton as well as foreman president trump before he took office as some of the passengers who flew on epstein's private jets among others through the years, but

there is no indication that they did anything wrong with. as you may know, epstein was found dead in hid jail cell in downtown man manhattan in 2019. authorities say he committed suicide as he faced sex trafficking chargings. maxwell is serving 20 years in prison for trafficking underaged girls for epstein and, stu, we expect a lot to come out at some point today. stuart: that's list you don't want your nature on. >> reporter: absolutely. [laughter] stuart: quick e check of the markets, red ink across the board. especially on the nasdaq. down 250 points. still ahead, where, oh, where, is aoc? if where are the democrats on the border issue? i'll put that question to jason chaffetz as the border, well, it's overrun. rebeccah heinrichs on iran's warship in the red sea. will we see a direct confrontation between the u.s. navy and iran? jimmy failla deals with trump's lead against biden among hispanics and young voters. and joe concha talks about

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