tv Varney Company FBC March 29, 2024 10:00am-11:00am EDT
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ibly5 take a look at st. patrick's cathedral on good friday and midtown, manhattan. i'm ashley webster in for stuart varney. the markets have closed for the good friday holiday but we are here with lots to talk about, we should mention the crypto market is open so let's look at the markets first, this was the performance in the first quarter, dow jones gained 5. 5, s&p 10%, not too shabby. as for bitcoin, down a little bit down 200 points or thereabouts, still above 70,000. now this. the white house laughing off house oversight committee chair james comber's invite to president biden to testify in his impeachment inquiry. they say lol, 20 plus witnesses have testified but potus did nothing wrong. he knows the hundreds of thousands of pages of records
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he received have refuted his false allegations. a sad stump at the end of the dead impeachment. tammy bruce joins me, the perfect person to comment on this. the white house may be laughing but do voters find this a laughing matter? tammy:we can look at the numbers president biden has been afflicted with, extraordinarily collapsed framework from a few years ago, related to policy but also attitude. we know a question like does the president relate to someone like me, biden doesn't. one of the things that is given trump fuel is this idea that people in the federal government are out of touch, this is a scheme, a family business. there's a dynamic about people
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getting filthy rich in public service at the federal level. those issues have been discussed before biden was in the white house. it's important for republicans to -- the democrats are revealing their confidence in the system not holding them accountable. people see that, this arrogance, smug dismissal of something americans take seriously and it reinforces what the establishment has enjoyed well for generations which is the law does not apply to them. ibly5 smug is the most important word. president biden raising $26 million during that star-studded fundraiser which featured among others barack obama, bill clinton, there is no doubt biden is outpacing trump when it comes to fundraising. how big a problem could that be
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for the trump campaign? tammy:it's nice to have money but hillary spent more money than trump in the 2016 election. unless you think the american people can be bought and we see democrats have been relying on that but we want fairness and americans realize no amount of money is going to make the future safer for our children and our loved ones. we know this is an x essential fight. money for the democrats might be a problem in the sense that it gives them a -- some level of comfort that they think that's going to save them. it also reveals the disconnect between what they are doing, the impact of their policy and what the american people are concerned about in this attempt to haul in all that money tells you that remains their main concern and reinforces the
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disconnection because they can solve the majority of the problems and get reelected if they reverse their policies and did some executive orders but won't do it. ibly5 not like this country doesn't know about president biden and donald trump, don't know what they can say, they can hammer home their policy platform but we are familiar with both these candidates. tammy:they are going to use that money to demonize donald trump, his supporters and american voters so somehow these people who advise the candidates on both sides of the aisle make a lot of money, so people get rich, just not the american people. ibly5 trump has a big fundraiser next week in florida, could pull and 43 million so right there, that's going to help. ibly28 it you got to do
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television, it's expensive, radio, advertising, all of it, especially what trump does with these massive rallies, that requires money as well. ibly5 tammy bruce always bringing the heat. thank you for joining us, thank you so much. come back in, lauren. interesting soar, women who take abca6 reporting a new side effect. >> fertility, that could be a good thing or bad thing depending on your intention. many women who are taking the weight loss drugs, the diabetes drugs, surprise pregnancies even if they had been on birth control. abca6 and the like are making the contraception they are taking less effective. it is encouraging when you lose weight, typically your fertility becomes easier. what's unknown about this is
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the impact on the fetus. doctors are recommending if you are looking to get pregnant, stop taking weight loss medication 2 or 3 months prior to contraception it if you don't want to become pregnant don't use birth control, use an additional method of birth control. depends where you are coming from but if you're taking weight loss medication uab increasing fertility. ibly5 be aware of that. let's talk about futures. james, great to have you here. you say the dow, s&p and nasdaq are going to enter a super cycle. sounds very exciting. what do you mean by that? >> this is a new super cycle. investors need to realize it is a new business cycle and a fed friendly one and when we get
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the supercycle, a business cycle ball market with the ai twist, that makes it a supercycle. ibly5 i want to get into some of your pics here. let's begin with nvidia. you believe it has a lot more room to run. >> as we talk about this you want to focus on the companies that are making it happen. that is where nvidia has been the godfather if you will of making the chip that makes a i work so that is why we are fans of the company. it had an astronomical increase in price, but also an astronomical increase in sales and earnings which justify the move and this is what you normally will see in the beginning of these new business cycle ball markets.
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ibly5 supermicro, is that one? thought we had a snl which is the dutch company but supermicro? >> that would fall into the same category as nvidia. it's not a company we own as a firm. both are in a some other situation where it's based in the netherlands, their products were sold to nvidia, they can't purchase enough to make more products to sell to microsoft through what i call the arms race of ai technology. ibly5 in the financial sector, very well-known name, charles schwab. why do you like that? >> if you take away the top tech companies with relatively high pes and look across other sectors, financials, a lot of
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sectors are trading with very low multiples, historically low priced stocks coming out of the bear market of 2022. schwab is a great example, stock trading at 15 times earnings, massive cost-cutting program over the last few years so their margins are widening but the real kicker here is ameritrade, they are pretty much twice the size, better margins and with the fed taking their foot off the battle, probably spending by a bit. ibly5 thanks for joining us on this good friday, thank you. by the way, the port closures from the baltimore bridge collapse expected to increase the toll industry. how bad could it get? ibly2 there's no timeframe on how to reroute these shipment, the port of baltimore is the number one port for cars, but number 2 for call exports.
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that's because it is so close to the appalachia coalfield, they handle 28% of all call that is exported according to the energy department. and if it's used for electrical power, steel production, heating and now the process is underway to figure out how to reroute so many of these materials, we don't have answers. it is expensive and will take some time, weeks to months. ibly5 thank you very much, coming up, speaker johnson says the house was said articles of impeachment against alejandra mayorkas, the question is what are the chances it passes. a massive caravan of 200,000 migrants making its way to the southern border. here comes another one. are we prepared to handle this kind of influx? acting ice director tom homan to talk about that and more next.
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ibly5 border town seeing dangerous smuggling attempts. casey, tell us about the violent gang members trying to sneak into the country. >> reporter: it's been a busy week for texas dps on the southern border. and kenny county, texas, 450 miles to the southeast of where we are in el paso, a trooper tried to initiate a traffic stop.
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ibly5 you -- >> the organization and the drug cartel leadership will determine, depending on where the drugs are and the drugs they need to cross. >> reporter: in las cruces, agents found migrants in a tractor-trailer attempted to be smuggled into the homeland. seven trailers containing non-us citizens been busted since the start of the fiscal year. apologies for the technical issues. i thought we were stepping on each other, don't know if you can hear me or if we were having a signal issue. ibly5 i can hear you just fine, thank you. a little bit of an audio mixup but carry on, please. >> reporter: thank you. back to you. ibly5 thank you. sorry about that. a little bit of interesting crossed signals as we say. trying to tell us a story from texas.
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we mentioned earlier this caravan of 2000 migrants making gets way to the us southern border. this is happen many times before. it is expected to reach el paso, texas in the next few days, a sea of humanity. tom homan joins me now. are we prepared to handle this kind of influx. is the door still wide open? >> reporter: depends what you mean by prepare. is the biden administered and ready to process a release these people into the states? will there be any enforcement or return or end of catch and release, actually not. this administration has not done a single thing to stop the flow, with the caravan getting to the board they want to send more resources to the border to process quicker and release quicker. if there's no more overcrowding, they say the border is secure. ibly5 how do we stop these caravans. of mexico refuses to work with
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us unless we meet their demands which galls me. >> under this administration, unless they reverse the 94 executory they signed destroying everything the trump administration did that proved effective, the most secure border in the lifetime, they are not and they don't want to. this isn't mismanagement, this is not encounters, this is by design. president biden ran on open borders, he kept his promise, the borders are now open but until they end catch and release, they could put the remaining mexico program back in a check tomorrow they are not going to do it, demanding $20 billion to stop the flow. under the trump administration that would never happen, wouldn't get a penny out of the trump administration because as you know trump threatened billions of dollars in tariffs. this is weak leadership we have
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right now, mexico is calling the shots and that's pathetic. ibly5 it is pathetic and that says it all. immigration is a top issue for voters, more people talking about it and they should be. a new fox news poll shows half of voters trust trump to do a better job on the border than biden. i'm surprised that number is not higher but could this be biden's undoing? >> i hope so. i can't believe that number, should be 100%, look at the success on the board of the trump administration. brings immigration down 90%, within months this administration unsecured the border and we have historic historic never seen before numbers, we went from most secure border to historic numbers which anyone who doesn't see that is playing
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politics, not looking at data. it is going to take a trump administration to secure the border. they proved they can do it. they just have to do it again and there needs to be more work this done. it will be tough to remove. ibly5 who knows what they are going to be up to. a lot of percentages will tell you there's a select number who don't know where they are are up to no good, that's for sure. >> the scariest thing is we hit 2 million known god aways who we know crossed the border -- got across the border. if you don't think a single one didn't come from a country sponsoring carrier ignorant of the data. this is the biggest vulnerability i've seen in this
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nation since i was born. ashley: interesting house speaker mike johnson says the house was said articles of impeachment against alejandra mayorkas on april 10th. my question is what will happen in the senate? will they pass? >> they won't -- what the house did, they presented evidence, multitude of witnesses that proved this administration came in with the intent of opening the border and releasing millions of people into the country illegally. they will be held accountable someday but impeachment through the house put the fact out for the united people, make your judgment and if you don't think this administration opened the border on purpose you are not paying attention to the facts
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presented to the court. ashley: before we let you go it is all about the southern border but what about the record surge of migrant at the northern border, we paying attention to that? >> we are not. northern border apprehensions are up and the scary part is they have been reassigned to the southern border which gains, they are overwhelmed with the resources they have. ashley: always on top of it and very sobering. thank you for speaking with us on this good friday. house speaker mike johnson met with texas governor greg abbott. come back in, was this all about the border? ashley: border security legislation is tied to foreign aid funding and is stuck in congress. governor abbott said president biden needs to take executive action on the border, he added
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that texas's border deterrence is working. look here. if you look at different entry points in texas they all saw significant declines in crossings this fiscal year, october, november come in january, february, big bend down 65%. el paso encounters down 47%. governor abbott is saying i am an air. i'm telling you it is working. meanwhile this. ice arrested 216 illegal migrants for fentanyl and cocaine convictions. convictions. this is drug trafficking or multiple drug offenses and that is just half of the 419 migrants in the ice operation. more than 200 are at large. these are the type of people that are coming in that have drug convictions already. ashley: we hear you.
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the white house says the administration policy on his real has changed despite abstaining from you and vote to hold a cease-fire but no mention of hostages. we mark one year since wall street journal reporter was jailed in a russian prison where he remains today. what's being done to bring evan home? we will talk about that with a friend 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.
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i just hop on the bike, man. oh, come on, man, you got to pay your bills. you don't have to worry about anything when you're protected by america's number-one motorcycle insurer. well, you definitely do. those things aren't related, so... ah, yee! oh, that is a vibrating pain. ashley: today marks one year since wall street journal reporter was detained in russia. benjamin hall joins us this morning. what's the latest on his detention? >> reporter: good to see you. this week they extended his detention for three more months meaning he remains inside russia for two reasons. first of all, here's an american and he's a journalist, two things the russian government wants to silence and stamp out. the russians have accused evan
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of trying to obtain military secrets but those claims are unsupported by any evidence. biden released a message, if i told evan's parents i will never give up hope to secure his release. we continue to denounce and impose costs for russia's attempt to use americans as bargaining chips but there have been hopes of a prisoner swap with vladimir putin suggesting that a russian assassin in germany could be exchanged for evan. that's happened in the past but the state department said to russia turned down there last attempts. evan is being held in prison, allowed outside his cell for one hour a day but despite this, his friends and family say he hasn't been broken but its place in a greater toll on him by the day.
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paul whalen was held for 5 years on espionage charges but the big question is why are there no consequences when an american is picked up off the streets of russia, should demi moore? ashley: very good question. thank you for that update. sam silverman is a close friend of evan. thanks for taking the time. when was the last time you had contact with evan? >> i got a letter from him last month. we've been able to write and receive letters to evan in prison and we've been in constant communication. ashley: can you tell us what he told you in that letter, how is he getting on? clearly it is hell on earth. how is he doing? ashley: can't get into specific. >> he's doing okay and working really hard to do okay. he settled into a routine, he
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reads, he writes, he meditates, he watches tv and it is unimaginably difficult but he's staying strong, we know that because he's keeping his good humor in his letters and every appearance he's made you see him smiling and laughing. ashley: that is incredible. what has been done to bring him home? >> there's open communication between the us and russian governments, we don't have any transparency into what those conversations are all about but we understand the administration is working hard. it takes two to tango. we don't know what's going on the russian side and we hope they will engage and find a solution soon. ashley: do you think benjamin hall had a report, many questions being asked about shouldn't there be a better or stronger reaction when a us
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citizen is taken off the street and thrown in the back of a van and thrown in prison like happened to evan, should there be a stronger response? >> absolutely. evan is one of many americans who have been taken hostage by the russian government and i think it is outrageous that it is happening. i'm not a political expert, don't know what else we can do about it but it's totally unjust that evan and any other american detained illegally is in the situation right now. ashley: have you or the family heard from the white house as this process has moved along? >> the family has. they've been invited to several events in the state of the union, white house correspondents dinner, they've been in contact with president biden and many others who are working on the case so i know they are in constant
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communication. the government is working daily on this. ashley: that is something. fox nation has a new special called prisoners of vladimir putin which highlights the courage and resilience of evan. >> russia has not arrested an american reporter on charges like this since the cold war. >> russia's claims are baseless. is clear evan is being held for leverage because he's an american. >> he faces 20 years in a russian prison. >> evan is a hostage of a foreign government, you and i understand, good reporting is now criminal in russia. ashley: you are in this special, tell us more. >> this gives an in-depth overview into evan's life and what he has been through in the past year, discusses the
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motivations behind russia arresting him. charges of espionage are baseless, the fact these a journalist, american, played a role into his arrest and this is a great in-depth look at anyone who wants to understand more about what he's living through right now. ashley: thank you for taking time to talk about evan but thank you for taking time to talk to us. all right. let's get back to the war in israel. which side do most voters support? israel or palestine? lauren: it is still israel but the margin is narrowing. 68% of americans said they supported israel, now if you look at the top column of the
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number has dropped 59% and 28% support palestine. the 28% is loud. they've been protesting, voting uncommitted to pressure policy change and it is working. the us abstained from security council vote on a cease-fire in gaza. that means we did not veto it. the white house is denying a shift. >> the us block previous votes from going through like this so what caused the shift and what's the president's reason for allowing this to go through? it is a change. >> it's not a policy change. we've been very clear. disagree. this is not about politics. it's not. the president does not lead national security were things that are the right thing to do. >> reporter: that vote means we literally pooled our diplomatic cover from israel, we declined to protect israel.
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if you ask me, it means we are disagreeing with how they handle the war so sounds like a shift. the white house is denying it and it sounds like a shift because of pressure on the president. ashley: it looks like a duck and walks like a duck, it's a shift, no doubt. coming up, the new minimum wage law in california goes into effect monday. and fast food chains have started cutting jobs because of it. meanwhile the price of cocoa hitting a record high, major companies say they have to raise prices to offset the costs. will small businesses have to do the same? we will alaska chocolatier about this next. ♪
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ashley: cocoa prices are hitting new records ahead of easter. madison alworth is in a chocolate shop in new jersey and how are prices now compared to last year? >> reporter: prices of cocoa ice you to this year are up 257%, not good. the real concern is we've seen the most dramatic increase from january 2nd today. cocoa prices up one hundred 32% just this year, putting the price of cocoa at $10,000 per metric ton. that's more excessive than most metals including copper. the co-owner, this is chocolate season, easter. you bought all this chocolate before the big run up but you put in a new order with the supplier.
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>> not only has the price gone up significantly but so has the rationing. that's going to be a concern if they don't keep those quantities going. we could run out of product. >> reporter: that's not good for chocolate shop. in west africa, el niño, how is that impacting the chocolate? >> what that is done is this is called -- or fungus reduced the quantity of chocolate available and cocoa available and because of that, that is created this speculation in the markets and prices have shot up and they are not likely to come back down anytime soon because these problems are systemic. >> reporter: this is been going on for a year, prices over the past year have grown by 15% to 20% was what are we looking at now as prices continue to go up.
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>> we added prices 15% to 20% without a big various inflation across the board but this is another 15% to 20%. >> reporter: thank you. more high prices, good news for right now. the cheapest chocolate you're going to get for the time being. if you're holding out getting easter basket chocolate, now is the time. stock up. unfortunately, cocoa is only going up. ashley: this is all very disturbing. thank you very much. interesting report from new jersey chocolate shop. thank you. nicole, the founder of a chocolate boutique in austin joins me now. your small business, we heard from a shop owner in new jersey.
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are you having take prices? >> we are not increasing our prices. we expect to have to do that going into the fall season. i have a engineering degree with a focus in forecasting so we foresaw this coming and are trying to increase our supply before those spikes. we are secure for now but we are seeing similar issues to what's being reported in the new jersey chocolate shop, continuing into 25 potentially. ashley: the shop owner talked about rationing of supplies. is that something you are concerned about and could you be facing that? >> potentially. i was speaking with some of our chocolate providers who were telling us the same thing, the they may need to start rationing going into the fall season. we are not anticipating that.
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we are limiting production of some of our products that require additional chocolate. with easter we didn't make as many solid chocolate easter bunnies because that pound of chocolate could make 5 to 6 boxes of truffle so we are being selective on how we use our supply. ashley: how much more is a chocolate bunny this year than before the pandemic or last year? is it that much more expensive? >> reporter: 25% price increase if you are looking pre-pandemic to today. we held our prices steady for the past year, year and a half and we hope to do so in the future but that might not be a possibility. ashley: you are in a difficult position. thank you for taking time to talk to us. if i ever find myself in austin, texas, i will be tracking you down. i'm in a lather right now. i need chocolate.
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how can you not be with chocolate? a major legal victory regarding dark chocolate lawsuit. i like dark chocolate as well. what are the details? lauren: there's no way you eat more chocolate than me. stuart can confirm that. this is what is going on. san diego judge has ruled the proposed class-action lawsuit alleging health risks from the heavy metals found in dark chocolate, she dismissed it, you are alleging it but don't have proof the metal caused harm. 's and trader joe's dark chocolate contains higher levels of lead and cadmium. the lawsuit said they never disclosed that and misled consumers, hence the lawsuit the judges dismissed.
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ashley: we have to have a chocolate competition at some point. by the way. okay. you throw down the chocolate not let. we want to know for our viewers what is your favorite easter candy? peeps, chocolate bunnies? all of the above? send us your answers for friday feedback, varneyviewers@fox.com. to this now. donald trump attending the wake of a fallen nypd officer, president biden attended a star-studded fundraiser in new york, is trump the law and order candidate? we will speak to the host of -- on sticks market next. ♪
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>> what happened is such a sad event, such a horrible thing happening all too often and we won't let it happen, 21 times arrested and the person in the car with him was arrested many times and they don't because they don't respect and we have to stop and we have to get back to law and order, we have to do a lot of things differently because this is not working, this is happening too often. ashley: that is for sure. sean sticks larken, host of crime cam 24/7 joins us now. great to have you here. what or who is to blame for the lack of law and order? >> the anti-police movement, once george floyd happened and everybody got behind the -- people holding accountable for
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small crimes and in 2024, magnified, complete disrespect for law enforcement and the number of assaults have increased by 25% in a year. the number of police officers being shot at almost quadrupled in the last 25 years. when they are held accountable to any crime they are committing little nonviolent crimes it will continue to happen. ashley: not surprising the morale among police officers is so low. you have a new season of your show crime cam 24/7, going to show a preview and get your comments. >> she tries a different approach. she fires a round at the door into the interior of the
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station. if he didn't have the attention of officers before, she does now. ashley: tell us more about the special. >> that takes place in a police station, trying to get through ballistic glass. there are 2 billion hours a day recorded between surveillance systems, and crime cam 24/7 takes it home to the viewer. they are very tough to watch because of the things that are happening and some are pretty funny, some of these camels do some really stupid things and managed to get themselves caught. on fox nation we are allowed to bring this home to the viewer and let them watch from the
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comfort of their couch. ashley: it does make for fascinating viewing though at times you are left shaking your head. thanks for joining us and we look forward to the special tonight, 6 p.m. on fox nation, thank you for joining us. still ahead. steve hilton on a new fox news poll showing americans are split on whether to ban tiktok. tomi lahren on stephen smith saying he's ashamed of democrats and might vote republican. and the uptick in gas prices, will they keep going higher? the 11:00 hour of "varney and company" is coming up next.
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but ♪ ♪ ♪ investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes. ♪("baby" by summer walker)♪ ♪ ♪
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