target -- maria: and an enormous cup, todd. >> you need to reorganize your priorities if this is how you act. this is not human. this is how animals behave. you need to get a life. [laughter] maria: john, any last word here? >> what is this, the new bitcoin? thiess the stanley cup has some underlying value unlike bitcoin. maria: wow. all right, 30 minutes before the opening bell. markets at the low of the morning, dow industrials down almost 200 points as interest rates spike this morning. up to 4.05% right now. we're looking at the dow down in the triple digits, down 200. see you again tomorrow. thank you, todd piro, john lonski, cheryl ca sew anyone, great show. "varney & company" picks it up. stu, or take it away. stuart: good morning, everyone. we're starting with politics. there is a a lot going on. just released, the latest fox government's exhibit op -- gop

power rankings. nikki haley is a solid number two. at the fox town hall last night, haley slammed biden's foreign policy weakness. she said her campaign is all about preventing war. desantis does his town hall tonight on fox, trump on wednesday. biden clammed trump -- slammed trump calling him a loser in a speech to a black church in south carolina. he was interrupted by pro-palestinian protesters. defense secretary austin's hospitalization has become part of the election. trump the demands he be fired immediately. we still don't know why he's hospitalized or or why it took three days to inform the president. stocks had a big day monday, not so good premarket action today. the dow off maybe 200 points and look at that nasdaq down again, 136 points, knocking out some of yesterday's gain. i've got to tell you about bitcoin, solid today the again. $46,800 is the price. an etf decision expected to. the 10-year yield staying just above 4%, 4.02 -- it's actually

dropped down a little bit. the nasdaq still lower though. the 2-year coming in around 4.38, now it's at 4.37. gasoline, $3.07 a gallon on average. diesel, no change. $3.94 is the average there. on the show today, the humiliation of president biden. mexico's president says, okay, he'll help with the border if we pay $20 billion, give an amnesty for hispanics in america and end sanctions on the tick today to haves in venezuela and cuba. how about that? michelle obama does a podcast. she says she is terrified about the '24 election. is she lighting a fire under the biden campaign or making a strategic move of her own? get this, 19% of gen-z job seekers took a parent to a job interview. [laughter] i just -- i don't believe that, do you? lauren: you need to find one and get them and their mom on the show. stuart tuesday, january theth, 2024. "varney & company" is about to begin.

♪ ♪ ♪ they're running up that road -- stuart: running up that hill. i really don't see the significance -- lauren: oh, i do. stuart: oh, the power rankings. lauren: yes! desantis, haley, their sprinting. stuart: i'm a little slow this morning. that thing about taking a parent on a job interview -- [laughter] here's the rankings. take us through it. lauren: o.k.. there is a shake-up, i will say that. trump remains the front-runner, but nikki haley's edging out ron ron desantis for second place. okay. trump is in the lead. in every early voting state. every one. he's ahead 34 points in iowa which is make or break, in my opinion, for ron desantis. he's even up 31 points in south carolina. that is nikki haley's home state. but new hampshire, let's talk

about the it. that's a more moderate voter, and trump does have a lead there, it's just not as a wide. fox news power rankings say nikki haley must win new hampshire to prove she is seriously competitive with trump before super tuesday when so many voters go to the polls. so who exactly is the republican voter? who knew this? there's three camps. 37 if percent, the maga base. 37% are persuadable, and 25% are non-trump, never trumpers. so that's what these candidates are competing with, right, to get the 37% persuade sw bl and the 25% not president trump. stuart: okay, got it. interesting rankings. president biden seems to have a new campaign strategy. over the top attacks on trump. watch this. >> their theory has no facts, has no proof, has no evidence. that's why time and been they've lost in every court of law. they don't have respect for the 81 million people who voted if other way, voted for my

candidacy. [applause] and voted to end the presidency. that's not the real world, that's not democracy, that's not america. and in america we all count. in america wens to serve all those who, in fact, participate. and lose are ors are taught to concede when they lose. and he's a loserrer. stuart: he's a loser. not great delivery there. jason chaffetz joins me this morning. i think biden's attacking trump because if that's all he's got. he count run on his record. what say you -- he can't run on his record. >> a that's exactly right. you can't sell bidenomics, it's not working. you're upside down on every other metric, then you go scorched everett. it's all he's got, it's tire tiresome. they've been beating that trump since the day -- drum since the day trump came down that escalator. elections about visions, about where you're going to take the

country. but that's not what joe biden's about. he has a hard time deliver canning his speech -- stuart: yes, exactly. the delivery was not sharp and forceful. i mean, there was some slurring of words, losing the train of thought. not a forceful throughly. here's another one for you. mexico's president makes demands on biden in return for mexico's help with migrants. lopez obrador wants $20 billion to latin american countries, work visas for 10 million hispanics in america and the end of sanctions existence venezuela and an end to the blockade of cuba. i think biden and america are being humiliated. that's the way i see it, jason. >> it is a humiliation. he sent down the secretary of state, the secretary of homeland security. they walked back and now they're talking about ham necessity? you're getting a lecture from the president of mexico about how to deal with the dictators there in venezuela and cuba and you want to have amnesty? they're encouraging the flow of

migrants. they're basically theming people get on that train, go north, go to the united states of america because i as the president of mexico am going to fight for you to make sure that you get a work permit and that you can live there. was they want -- can because they want all the money that flows back into mexico. that started their economic plan. biden looks so feeble, so weak. it is un-american, and it is the going to be one of the driving factors in this election coming up. stuart: one of the worst things is that lopez obrador has the strong hand in this because he controls the flow of migrants coming in from central america all the way up to the border. that's the flow that the he controls. he's gots us over a barrel. last word to you. >> yeah. and the drug cartels make bank on it every single time. joe biden in one a day could change the policy, do what trump was doing, lock down that border, get rid of the rewards and incentives, reject amnesty and shut town that border, allow

the border patrol to do their jobs, but that's not what joe biden and kamala harris want to do. stuart: it will not happen. jason, thank you very much, indeed. see you again soon. >> thank you. stuart: let's talk about our domestic economy. what's america's top banker, jamie dimon, saying about -- lauren: he's skeptical of this goldilocks scenario, and he thinks recession is absolutely possible in 2024. watch here. maria: are we going to see that recession this year? >> yeah, it's a possibility. finish you know, i think they did the right thing to raise rates. i think it was a little late, but i think they're doing the right thing to wait and see what happens. as you said, it takes a while to see the full effect of that, and there are other financial conditions out there. all of those factors may very well push out to recession, you know? as opposed to the a soft landing. lauren: i keep thinking back to 2022, remember? when dimon said brace ourselves for this economic hurricane that was coming, and it didn't come. i'm not downgrading what he

says. he has access to all this information as head of the biggest bank in the country. so he has that insight. nonetheless, americans feel flat on their backs even though the economic data is largely positive. by the way, bank of america -- jpmorgan reports on friday. stuart: jpm -- lauren: thank you. not bank of america. [laughter] tour sue stuart letter. check those -- stuart: all right, check those markets, please. lots of green yesterday, first thing this morning it's all red. dow's down 200, nasdaq's down 133 points. david nicholas with me now. i like your stock picks, i just don't understand 'em. ups and fedex. you like 'em both. what's so good about 'em? >> stuart, do you see what's happening in the red sea right now? we're in the initial stages of a much bigger global conflict that impacts 10% of global trade. if you're a company that's trying to send your goods through that region, or you either send it through the red

sea and rest ec getting attack -- risk getting attacked, oroff yo got to go 4,000 miles around africa at 10 days of time, so i think many more -- more companies are going to shift -- 150ur9 stuart what's ups and fedex got to do with shipping around the horn of africa? >> i know. and i hope our viewers don't miss this, stuart. you think they ship packages. no, they have a whole division that focuses on shipping to -- logistics which helps companies figure out how to get your goods from a to b in the safest, quickest and most efficient way possible. so i think this is going to a boom to their margin, i think ups can jump 20-25% because companies can't fend on the u.s. government. it's a failure of policy and leadership are. they're going to have to figure this out on their own. i think it's a big boom to ups -- stuart: that's a very interesting angle on shipping and fedex and ups. i'm going to move on. fia, and, i believe that is your

etf, ceact? fiax. you organize that one. >> that's right, stuart. we list on the new york stock exchange. stuart: and it pays near 7% dividend, is that correct? >> stuart, that is correct. that's exactly right. stuart: is it secure? can i get 7% from here on out if i buy today? >> i'll tell you, we've consistently raised our dividend. if you buy today, if our investors or viewers buy today, you will get the next dividend that's declared in about a week. you compare that to the 10-year treasury, if you compare that to agg which is about 4%, i don't get excited at 4. i get excited at 7. it's a very consistent, safe dividend. 90% of the portfolio's backed up in u.s. treasuries, so very secure. the safest investment you can buy right now is treasury ares. stuart: 7% from you guys. 7%. you've got my attention there. very good, well done. thank you, david. we will see you again soon. good stuff. >> thank you. stuart: here's what we have

coming up on the show today. former first lady michelle beem says fears -- >> thanks for having me. stuart: roll tape. >> i am terrified about what could possibly happen because our leaders matter. who we select, who speaks for us, who holds that bully pulpit, it affects us in ways that sometimes i think people take for granted. stuart: well, that's interesting, isn't it? will michelle jump in or have any influence over the biden campaign? good questions which we will try to answer. despite growing calls for lloyd austin to be fired, the white house is standing by the defense secretary. we still don't know why he's hospitalized or why it took three a days to notify the president. full report on that next. ♪ i will stand by you ♪ ♪ met the walls fall down -- let the walls fall down, i will shelter you ♪ you know what's interesting these days?

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stuart: futures pointing south after a nice run up yesterday. we're down today. 200 points for the dow, 126 for the nasdaq composite. you know, it took at least three days for the president to learn that defense secretary lloyd austin was in the hospital. jacqui heinrich's at the hospital for -- white house for us. many are calling for the secretary's resignation. what's the president say? >> reporter: there are reports that the president was privately exasperated that he was left in the dark about his defense secretary's hospitalization despite these public statements we've seen from the white house back up secretary austin. finish the pentagon says that word did not get to the white house in a timely manner because austin's chief of staff had the flu. so late last night in a memo the pentagon ordered a review of what happened with some immediate changes take effect in the meantime ini suring that

when duties are transferred to another person, top brass, their staff and relevant folks here at the white house get an e-mail which includes the reason for the absence. the pentagon tried to assure people yesterday there was never a gap that would have caused any national security risk, but the ten the city secretary of defense was given temporary duties from her vacation in puerto rico without understanding why. austin was taken to walter reed in an ambulance on january 1st, and officials could not say whether he at any point was unconscious. it's also unclear how long he was in the icu or what access is he had to comms while he was in there. critics calling it not just an outrage, but dangerous. >> if an adversary launches a nuclear icbm, we have 15 minutes to determine whether the united states is targeted, how it's being targeted or whether it's some type of test. if in that 15 minutes you can't find, literally can't find the secretary of defense because he's in the icu, that is not only dangerous to every

american, it's dangers to entire world. >> reporter: some republicans have called for austin's resignation, but congressman matt rosen dale went a step further if tweeting: secretary austin has endangered the lives of the american people, he's unpit for the office of the secretary of defense which is why i urge my colleagues to join me ithe president said he wouldt accept austin's resignation if it was offered, and no one from the pentagon has offered their resignations either. forces were attacked 13 if times since austin was admitted including 8 between when he was admitted and resumed his full responsibilities, and he is still a patient at walter reed, stuart. stuart: yes, he is. he's still there. thanks very much, indeed. national security expert jamil jaffer is with me now. i think we should know what secretary austin's procedure was, why there was a delay in telling the president and why he said he was working from home when, in fact, he was in the hospital. if should he be fired?

>> i think this is exactly righter stuart. and i think, look, at the end of the day, you have to hold somebody accountable. he goes into the hospital for an elective medical procedure on december 22nd, doesn't tell anybody. is admitted to the hospital, taken by ambulance to walter reed on january 1st. it takes until january 4th for the president of the quites to find out. in the meantime, by the way, the united states issued an ultimatum to houthi rebel about their attacks on shipping in the red sea, we conducted a strike in a baghdad against a member of an iranian-backed militia. all of this is happening while the secretary of defense was out of pocket, his deputy down on vacation in puerto rico, only knew she had some responsibility, didn't know why. this is no one to run a evident negotiation certainly -- a -- to run a government when there are two wars going on in the middle east and europe and a potential third conflict with china and the taiwan straits. stuart: you assess the vulnerability of america when, a, you can't find your defense

secretary and, b, you don't know whether he's conscious or not. what's the level of vulnerability here? >> you know, stuart, it's hard to understate how vulnerable if it makes us. congressman mike waltz is exactly right. we have a limited amount of time if an adversary undertakes a nuclear strike. we have to act rapidly. the secretary of deif fence is part of what we call the national command authority, the people who decide whether we're going to use nuclear weapons a. god forbid but it ever happens, but the secretary of defense needs to be involved and engaged. there's a process for that. it's the deputy secretary, but if she's on vacation and doesn't know why she's given these responsibilities, we have chaos. stuart: should the secretary resign or be -- should he be fired? that's more to the point, isn't it? should the president fire him in enter you know, stuart, i don't see how he can keep his job or the deputy secretary of defense can keep her job, knowing she had new responsibilities and didn't know why. i think the entire leadership at

dod needs to be replaced. stuart: just looks like amateur hour, doesn't it? dangerous. that's a fact. jamil, thanks very much. always appreciate it. >> thanks, stuart. stuart: yes, sir. now this, pro-palestinian protesters defaced an historic e veteran cemetery in los angeles over the weekend. that's a dreadful thing. take me through it. lauren: really is. 85,000 veterans and hair families are buried here. it dates back to the civil war. protesters sprayed free gaza at the entrance, it defaces this say red place and shows these protester thes have no boundaries. it's one thing to disrupt my commute home by blocking a bridge and snaring traffic, it's another thing to put graffiti on a national cemetery. that insults people. and i'll go a step further, it's anti-american. they hate america. that's the message that they're sending. stuart: what price will they pay for this? i'm not talking about being

fined or ime prisoned, i'm talking about -- you don't encourage people to see things your way if you're defacing a cemetery and blocking people's commute on the way home. surely, this is counterproductive. lauren: what's the president about speaking out about all of this? because he needs their votes. stuart yes, that's it. lauren: that's one of the reasons he's down in popularity of young vote -- voters. stuart: he should get out there and say what he thinks. thanks very much, lauren. again, check futures, please. we open up the market in about seven minuteses of a' time -- minutes' time. we're going to be down. dow's down 200, nasdaq's down 130. the opening bell is next, and we'll take you there. ♪ ♪ finish he was a skater boy, she said, see ya later, boy. ♪ he wasn't good enough for her. ♪ she had a pretty face, but her head was up in space. ♪ she needed to come back down to % ♪ -- to earth. ♪

stuart: three minutes to the market's opening, and jeffrey small joins uh-uh this morning. -- us this morning. you say big tech is going to outperform the market again this year. okay, make your case, please. >> i'm happy to make my case, stuart. but let's talk about earnings, and let's talk about low

valuations. the four out of the magnificent seven companies that we really like have very low valuations, microsoft's at 36, meta's at 31, apple's at 30. and so those are not overbought positions, but out of the four that we like including amazon, microsoft, meta and apple, those positions are projected to grow this year at 10-13% in revenue. this is a no-brain or. finish it's not codependent on the fact that the fed's got to lower rates or the economy has to slow down faster than inflation because none of those are given. nobody knows what's going to happen. but we're in the middle of a secular bull market in tech, and a.i.'s going to a start to be monetized especially with one of your favorite companies, microsoft. there's a suite of initiatives on their co-pilot that will add a.i. to their product suite and so will amazon and apple and meta. and so this is the like buying the market and the internet stocks in 1994 or 1995. now is the time to get in, and

valuation and earnings are good. if the economy turns south, these can become the new value stocks, and they will continue to march on the same they day -- they did last year as earnings continue to expand. i can't believe the rest of the market is saying these companies are not going to reach all-time highs and beyond. they're going to continue to climb. we have very high price targets on all of these stocks, but these are companies you want to own the next 3-5 years. this is a 3-5 year window. stuart: okay. let me jump in for a second. i know you like meta, microsoft and amazon, i think. those are your three, okay. what's your poise target on meta? -- price target on meta? >> my price target's about $450. i think within three years we're at $500. based on its current earnings trajectory and valuations. that's a no-brainer to own. stuart: okay. let me move on. microsoft. you like them. they're about 370 at the moment. where are they going? >> microsoft's going to $450 in 1 months. the best a.i -- 12 months.

the best a.i. play in terms of monetizing artificial intelligence, it's a must-own to have. you'll kick yourself if you don't have microsoft. stuart: i've owned it for 20 years. amazon, that's another pick of yours what's your price target? >> on amazon, $225 within the next 12 months. the earnings are expanding, operational cash flow's rapid ily expanding. all six revenue models are fighter at double-digit growth. it's a no-brainer to own these at its current price. stuart: jeffrey small you've been very specific and, you know, you supported big tech which which i'm heavily invested in. that's great. come back anytime you hike. good information today. thank you very much, sir. it's almost 9:30. we're going to show you the opening of the market. press that button and away we go. however, we are looking for a great deal of red ink in the very early going. yeah, there you have it. we're down 210 points right from the get go, but the level, 37,400 for the dow industrials, but i've got most, the vast

majority of the dow 30 stocks are in the red. a lot of selling today. s&p 500 also on the downside to the tune of a half percentage point. the nasdaq composite also on the downside again. yesterday, of course, a huge rally. today it's down .66, two-thirds of 1%. show me big tech. i'm pretty sure most of them are going to be down. yeah, a sea of red ink this morning. we've got them all down. can't read 'em, can you read them for me? no, too far away. however, i'm going to start the individual stock picks, we're looking at nvidia. fantastic start for 2024 yesterday. lauren: yep. stuart: up again this morning. lauren: yeah. their first record close of the year yesterday. remember last year business doubled? we told you that over and over. market value tripled. they keep going. 524, all-time high. and guess what? they've got new chips. stuart: yes. lauren: three of them they're

showcasing right before ces. they're framing these new chips as the new classic tips for the a.i. pc, the a.i. laptop, the a.i. desk poppetop. so you can run artificial intelligence natively rather than in the cloud. that means your private data is more protected because it's not in the cloud, and it doesn't necessarily need to be used for training with the a.i. software. so people like this. it's one of the reasons microsoft added the a a.i. key. stuart: that's another stock that i completely missed. never invested in apple or nvidia. lauren: i missed it, but do you think it keeps going? it tripled last year. stuart stouter i'm afraid -- lauren: right now it's cheap in i mean, come on. stuart: i'm afraid to say it. [laughter] it's like a stock pick, i'm unwilling to do that. how about unity software? i know they're cutting 25 of their work force. what do they do? lauren: wow, typically the stock would go up on that. they're a video game software

maker. they're still recovering from the big mistake they made last november when ebb they raised prices and ticked off their dust memplets ultimately, the ceo resigned and the company backtracked. now they say we admit we weren't executing the right way, and we're laying off one-quarter of staff. that's 1800 people. their largest job cut ever and still the stock is down 4%. typically, a stock would go up when you're making a drastic, cost-saving reset like that. stuart: all right. let's move to microsoft. they've got a $13 billion investment in openai. i will bet the europeans have a problem with that. lauren: sure do. so they opened an investigation. they want to find out if microsoft's backing of the chatgpt creator would make it subject to the merger rules in the european union. all of this started last month, right? you had the dramatic fire -- firing of sam altman. then he was rehired. microsoft wanted him rehired. they wanted him, period, and then you had this new board that formed that shook things up.

so you had the u.k. starting their official review, and now the e.u. is considering it. one more thing to add, the e.u. commissioner, marching recent messenger, she's going to silicon valley this week to meet with some of these big tech company including openai. stuart: okay. they're coming over here to see how we do it. [laughter] lauren: yeah. and take back what they learn, perhaps. stuart: those europeans, i tell you. qualcomm just beat out ibm for the number two spot on the u.s. patent list. why is that important? if. lauren: qualcomm was granted the second most patents last year, over 3800, so an increase of almost 58%. and it's the first time in three decades that irk bm -- ibm, another american company, was actually surpassed. all in the u.s. was granted far more patents than any other country. samsung, however, is still first. qualcomm in second place. tsmc, then ibm, and apple is in

seventh. i didn't see microsoft at the top of the list, but apple is number seven. stuart: okay, we'll take that. the ceo of jetblue, i know he's leaving. the stock's down 6, $5 a share? lauren: robin hayes. leaving for medical reasons. stuart: he's been on the show. englishman, i think. lauren: he was pivotal for the companies the nine years he was at the top. he started the transatlantic flights, made in-flight wi-fi a thing, and then you had the spirit merger which is still facing regulatory review. jetblue, however, has not turned a profit since 2019. you have all these people flying, they still are not making money. robin hayes will be replaced by joanna garrity. she's been -- the president. she will be the only female ceo of an airline. stuart: okay. we've got the match group. i think it's way up today. yes, it is, 7%. what's behind that? lauren: activist investor coming in and demanding changes. we don't have details, but "the wall street journal" is reporting elliot's taken a $1

billion position in match which owns tinder and hinge. the biggest dating web site by far. but if you look at match's stock price, they have that gold, right, underneath them. the stock price hasn't done much. heir valued at $10 billion. during covid? $40 billion. so elliot's probably saying, all right, how do we get things moving in the rights direction because growth at a these major properties, it's still there, but it's slowing. stuart: they need a new lockdown, don't they? lauren: don't say that. could you imagine? stuart: why is netflix down this morning? lauren: they got a cut to neutral at citigroup. the price target, 500, so it's still above with we are now. they say, look, sales expectations for 2024 are too high. but it's not -- i mean, they increased their price target and then said, well, netflix is sitting on all of this cash. that's firepower. maybe they're going to come out and and buy a gaming company. so that's a possibility. so this town can grade -- downgrade, i don't know --

stuart: 11.5%. terrific -- 1.5%. terrific runup. six minutes into the session, the dow is off about 250 points. the level is still strong, 37,4. take a look at dow winners, please. see if i can read them. there you go. read them for me. lauren: john johnson & johnson, merck, unitedhealth -- stuart: procter & gamble, it's not a winner. it's down. s&p winners. lauren: juniper networks. "the wall street journal" is reporting they're an acquisition target of hpe. match is up there, look at that. stuart: it's very useful to have a youngster with good eyesight. lauren: i can barely see. stuart: nasdaq winners? will you tell us what they are? lauren: illumina, crowdstrike, palo alto. stuart: that was enjoyable. coming up, 20 this nikki haley came out swinging against desantis and trump during her town hall on fox. roll i. >> look, desantis is desperate. he's lying because he's losing.

but let's go -- the problem is if you have to lie to win, you don't deserve to win. what we saw with president trump and i think when i say he was the right president at the right time, he was good at break things, right? but now we need somebody to fix them. stuart: all right. did nikki haley move the need last night? if bret baier co-moderated the event. he's going to be here later in the show. biden didn't hold back against trump in yet another divisive speech. why does the president keep going on over the top attacks? larry kudlow takes it on. larry is next. ♪ finish call here's to the losers -- ♪ bless them all ♪ here's to those who think they're better ♪ ♪ ♪

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edward lawrence joins us from the white house. edward, lower prices are just fine, got it. but are these lower prices here to stay? is. >> reporter: and the answer is maybe. opec+ does like that sweet spot, it seems, of oil in the mid to upper $700 range. that would -- 70 range. had keep gas prices above $3 a gallon. a, a is -- aaa is saying the average price is $3.07 a gallon, 9 cents cheaper than a month ago. one of the reasons oil prices are falling is global demand is softening. jp morgan's jamie dimon says softening demand could be the leading indicators of a recession. >> consumer's in good same -- shape, but the extra money they got during covid, trillions of dollars, that's kind of running out. and it's been pushed out and out for a whole bunch of different reasons, but it runs out year. if we go into recession, we're in pretty good shape. and businesses and private companies are in prettier good shape with credit, etc., but the government has a huge deficit

which will affect the markets. finish but i'm a little skeptical of this kind of goldilocks kind of scenario. i still think the chances of it not being a soft landing are higher than other people. >> reporter: he spoke exclusively with mt -- "mornings with maria." outside shocks like the war between israel and hamas, ukraine, could all impact things in 2024. the president doubling down on his policies, republicans saying everything is on fire under this president. >> let's hope lloyd austin is o.k.. sixth in line to the presidency, but that adds to the criticality, the fact that our border is few bar, our energy policy's mia, now our secretary of defense awol? >> reporter: and there are no indications of any changes in policies from this white house. stu? stuart: now this, biden seems to have taken his campaign on

offense bigtime. yesterday he went after trump calling him a loser. larry kudlow's with us this morning. all right, larry, why is biden making such harsh attacks on trump? >> 'cuz he's losing. 'cuz biden's losing in the polls. stuart: that's right. >> there are fresh polls today today in the swing states. actually not only is trump ahead in six or seven states, but when you ask people who's going to win in those states, trump has even bigger leads. now, these are polls not vote, i get that, but that's one reason. the orr reason is you've got democrats like former president barack obama. saying biden could lose. you had michelle obama, it was fox news, i think, digital story, or michelle obama easterfyed that trump might win. stuart: yep. >> one of their campaign managers, this happen axelrod, smart guy, warning.

so biden's going with own out there making these absurd speeches about since erection -- since rx. -- insurrection. trump wasn't charged with ins rex. he certainly wasn't convicted of insurrection. biden keeps doing this. it's a red e herring, stu. in wall street terms, it's a red herring to distract from the affordability crisis, the $3 trillion of regulations on small business. you heard jamie die can monosay recession risk is still substantial. i happen to agree with that. the southern border is in catastrophe mode. foreign policy has been slumping for biden who has very weak leadership. these are all the things that show up in polls, but biden wants to ignore them because he has such a negative track record. if he's afraid to talk about his presidency. stuart: well, larry, which gop

candidate would -- is the one who would overturn the d.c. elite and replace the deep state bureaucracy? which gop candidate will do what you want them to do? >> look, that is exactly the key point. somebody has to blow up the swamp. and i still believe that president trump, former president trump is the best person to blow up the swamp. look, he has a very good track record in his first term. he has a lot of experience. but here's the point. trump nose even more now -- knows even more now where the bodies are buried and how to go after the bureaucracy. one of the mans -- plans being formulatedded is to go after all these tenured civil servants who are not non-partisan, most of them, the majority of them are left-wingers, and they subvert conservative policies. i think nobody would go with

after them as strongly as and wisely as donald trump will. he's absolutely devoted his political life to it. i can say that, look, i'm not against nikki haley. i'm not against ron desantis. they're good republicans, they're conservatives, etc., etc. but i don't think they would go in there and rip apart the bureaucracy and the civil service. and you've got all that, you know, intelligence agencies and fbi problems and two-tiered justice system. i don't think anybody would go after that as well as donald trump. stuart: larry, you just put the fear of the good lord into the minds of just about every federal bureaucrat. [laughter] i think you're enjoying it too. >> good. stuart: yeah, i know. [laughter] >> if that's -- if there's any truth to that, stu, my friend, if there's any truth to that, or then i'm going to count this as a good day's work.

[laughter] stuart: take the credit, lad. larry kudlow. you can watch him at 4:00 eastern every week today here on fox business. larry, thanks very much, indeed. see you again soon. coming up, president biden's begging mexico for help. president lopez obrador is humiliating our president. that's my take, top of the hour. harvard's president claudine gay resigned, many question whether the school will pick a new leader who will really change campus culture. what's harvard's next course? next move? we have the report after this. ♪ on to the next, on to the next one ♪ ♪ ♪ you know what's interesting these days? bitcoin. look for bitwise, my friends.

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harvard. is she did say she's focused on just being a member of the faculty at the moment. former president barham he's -- barack obama's also been mentioned. get this, stuart, he reportedly lobbied behind the scenes to keep claudine gay before her resignation. that would likely be an issue because gay's ascension to the office is seen by many as a symptom of the greater institutional rot. she was not prepared to lead the university. that's evidenced by her weak response to anti-semitism, and questions swirl around the allegations of plagiarism now, did the harvard corporation board not vet her or did they ignore the issue entirely? that's unanswered. and that's why hedge fund manager bill ackman calls for the resignation of member of the harvard board who defended her for weeks after. he wants a different board installed for the selection of the next president, and meanwhile, experts and alumni agree the next president should have superior credentials.

one alumni said that most of the critical -- the most critical attribute here is someone who simply cares about the school's future. listen here. >> asking someone to care is like asking somebody to love you. somebody either cares or they don't care. you can't ask someone to care. whoever takes this job needs to really care. >> reporter: and that's adrian, he started the harvard view alumni association to represent member, jewish members of the harvard university community. you know, harvard admit not -- did not get back to us, stuart, but don't expect the new president to be discovered anytime soon. when they found claudine gay, it took them five months, and that was a fast process by harvard's standards. this is probably going to take a long time.

experts say they're not rushing to find the new president. stuart: i nominate larry summers. >> reporter: that's a name circulated, he did it one before. stuart: we'll get into that at another time. check the markets, 25 minutes in. dow's down 278, nasdaq down 1 so. still ahead -- 110. trump's in court this morning. he wants immunity from 2020 election charges. pete hegseth on that. is obama taking over biden's campaign? good question. brian kilmeade will, no doubt, answer it. mayorkas said e the majority of illegal migrants have been removed, returned or expelled. you know, that just doesn't sound right, does it? i'll ask arizona sheriff mark lamb. will hunter biden be held in contempt of congress? house oversight committee member russell fry on that. the 10:00 hour is next. ♪ turn the beat around, turn it around. ♪ love to hear percussion ♪ turn it upside down. ♪ love to hear percussion ♪

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