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tv   Varney Company  FOX Business  April 4, 2024 9:00am-10:01am EDT

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the lawn barely even visible. neighbors are fed up of holding their e nose and slamming public health officials for ignoring this nuisance. mayor karen bass telling local sanitation crews to clean up all the junk. i guess no one lives there. >> the front yard decided it's going to identify as a landfill, so there you go. you know who else is upset in l.a.? lebron james. his mansion, there's a quarter home two doors down from if him so he a had to hire private security. >> if they want the yard cleaned up, just invite the chinese commune first party to town, and all that a trash will disappear. [laughter] maria: michael, final word. >> you know, unless there's a dangerous condition, they can what basically do whatever they want. that's the problem with this. maria: unbelievable. guys, thank you so much. great show. have a great day, even. "varney & company" pix it up. stu, take it away. stuart: good morning, everyone. it is 215 days til the election,
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and the presidential campaigns are sucking all the air a out of politics. there is a lot of action. the president, he's not happy with polling results, so politico says he's bringing in a a new polling team. he's going back to some of the pollsters who helped the democrats in 2022. it's been previously reported that a biden shouted at his staff because of his low polling numbers. now he's trying to do something about it. here's a poll he probably won't like, or it's from gallup. biden is more likable than truma better leader. the president has a phone call scheduled with bibi netanyahu today, critical to the war on hamas, biden's support for israel and democrats' support for biden. to the markets. it's been a down week so far. modest gains premarket today. well, not so modest, dow up 200, nasdaq up 164 points. that is almost 1. disney's ceo with, bob iger, beat activist invest ifer nelson peltz by a wide margin in their fight over board seats.
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the stock has a barely budged, it's up all of 68 cents this morning. interest rates are trending higher. the yield on the 10-year treasury way above 4.25%, same with the 2-year, it is way above $4.5%4.68 right now. gold making new highs, we're at $3 2-- 2,307 an ounce. that's clearly close to new highs. oil, $85 a barrel but gas has started to move up. regular up 2 cents overnight to an average of $3.56. diesel up 1 cent at $4.03. we'll get to it, here it is. bitcoin holding around $66,700 per coin. all right. on the hoe today, the president -- show today, the president shows up an hour late for a presentation on drug prices. he'd been using a machine that keeps the oxygen flowing to his brain. when he did make very brief remarks, he sounded confused. look, we're not piling on here, voters have a right to know
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about the president's physical and mental decline. what's with the very sharp rise in the number of chinese nationals crossing our southern border? 22,000 since october. that number keeps going up. and the decline in the work ethic. we don't seem to value hard work and effort. we're encouraged to slack off, don't try hard, don't climb the fad chain. it hunters your mental healthal -- it hurts your mental health. i think it's un-american. yeah, get off my lawn. it's thursday, april 4th, 2024. "varney & company" is about to begin. ♪ ♪ you can jump right in. ♪ let the music pull you many. ♪ you can jump right in ♪ stuart: the i like it, i like it, jump right in. that's got me going this morning. jump right into what we've got going this morning. an empty sixth avenue, but i've said that every day since the
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pandemic. that's the case. a new gallup poll reveals who voters think may be more likable. that may be very important in this election. lauren, i think i gave this away at the top of the show, biden wins, doesn't he? lauren: 57% of respondents said president biden is likable. that's 20 percentage points ahead of trump. you can see right there. clearly, that is biden's strength, right? he's a friendly man. [laughter] stuart: really? lauren: let me finish -- >> odd. he's so awkward. lauren: can i just say, who cares about likability though? is that a motivating factor? does that give you a reason to vote, oh, because i like them? -- him? stuart: if you like him more and dislike trump, that is a factor in the election. lauren: 50% say trump is a strong and decisive leader, and that's a almost 20 points ahead of biden. likability versus leadership, what is the motivating factor? if. stuart: leadership. in my preponderance. lauren: agreed.
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and that's one of of the reasons biden and is down so much among those key gripes, right? 68% for blacks -- groups. 50% under 30-year-olds going for biden. those numbers were all 20 mrs. points higher four years ago. stuart: for some time, lauren are, we've been bringing you polls showing trump leads in key states. first lady jill biden, she's having none of it. roll tape. >> these policy like "the wall street journal" one land in the white house and he's losing all the battle ground states -- >> no, he's not losing in all the battleground states. he's coming up, and he's even or doing better. so, you know what? once people start to focus in and they see their two choices, it's obvious that joe will win this election. stuart: well, well, well, all right: sean duffy with me this morning. it sounds like the first lady is not going to met her husband quite a bit. what -- let her husband quit. >> i agree with you. can i just comment, first of all, what you were talking about with lauren about? the fact that joe biden is
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likable is a really good stat, and i think to or your point, stuart, it's meaningful, but when you look at his favorable/unfavorable, that's 57% if as well. it's interesting, people think he's a nice guy, but he has an unfavorable rating as president. these things usually track together, but they're not right now. and regarding the first lady, it's fascinating that, again, you shouldn't recognize the poll, you should recognize reality. joe bidens' losing now, but when they focus in p he's actually going to come back up in the poll, and the polls are getting better for joe, stick with him. she's completely disregarding the polls, fox has come out and said that in six of the seven battleground states donald trump is winning, and the one that he's not winning is in wisconsin where the two are actually tied. so, again, i think what jill should do is say, you know what? we're going to change course. we're going to not focus as much on the radical, extremist leftists, we're going to focus on middle america. we're going to make their lives
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better. we're going to get rid of the ev mandate, stop spending money, try to bring inflation down and secure the border. i know they're not going to do that, stuart. they're just going to lie about the polling to the american people. it's like, la, la, la -- [laughter] my kids do that, stuart. sue soother the first lady's actually defending her husband and trying to make sure he does not drop out as so many people want him to. sean, hang on a second, want to check up on the market. plenty of green this thursday morning. dow's up 200, nasdaq up 160 points. adam johnson with me. are you expecting, i believe you are, even more highs for the market? >> oh, or yeah. i think we'll continue to see new highs in the market, stuart. i'll tell you why, or there's several reasons. first of all, the three es of earnings, employment and the economy that we keep talking about. the nation at a full employment, gdp growing at 3.5%. that's all very positive. and earnings, earnings, the reason we buy stocks, growing 8, 10, possibly even 12% if this
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quarter. so that's very positive, number one. number two, we have inflation if coming down. two of the four inflation if measures are actually below 2%, the fed's target. i know consumer prices are till above 3. that hurts all a of us. but my point is they're trending lower which is point number three, why fed chair jerome powell yesterday reiterated that he will lower rates most likely three times this year starting in june. that's all very positive. and finally, number four, stuart, we have $6 trillion of cash sitting on the sidelines. and reluctant investors are eventually going to realize they need to get back into the market to win back some of the money they lost -- stuart: are you counting on fomo, fear of missing out if many. >> oh, i think it's happening. i've seen it in my own business, stuart, where people have is reached out and called me and said, you know, i sat in cash, what do i do? we put our money to work, and here's how we do it. i mean, you know, there are always reasons not to invest, stuart. there are always reasons to sit
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on the sidelines, and i get that. but, you know, you have to be in it to win it. stuart: you've got to have some courage. >> you do, yeah. but we're americans. we're courageous. we're americans, we're opt optimist, we're equity investors. stuart: oh, well said, son. stay with me for the hour. watch this, it's a c or nn panel shocked to learn bind doesn't have a wider lead on the issue of protecting democracy. watch this. >> is it shocking? it's only +1. >> biden's given several speaks on -- speeches on this. they see this as the centerpiece to get moderate voters, suburban women voters, nikki haley e voters as well, and the idea that biden is only up by 1, i think, is fairly shocking. stuart: all right. come back in again, sean duffy, please. is it really that shocking? [laughter] you're laughing, go ahead. >> stuart, look, it's like joe biden has given speeches on democracy, and so the american people should, you know, obviously rate him very well on democracy. the truth is though people look
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at what joe biden has done, stuart, and the fact that joe biden has tried to silence people online, to curtail their first amendment rights, that's a threat to democracy. the fact that joe biden has gone after his lead political opponent, donald trump, with lawfare, that's a threat to democracy. they also look at their elections, and they say, you know what? we know that every, you know, legal voter should get one vote only, and expect fact that democrats are pushing mail-in ballots, no voter id, they sew that as unsecuring the election -- they see that as unsecuring the election, and it all comes around a joe biden. so of course they go joe biden is not the defender of democracy, he's actually the threat to democracy. finish i don't care how many speeches he gives, stuart, it's what he does. and what he does is a threat to the very foundations of who we are as a country. stuart tooth all right, sean, we're going to be watching you at 6 p.m. eastern, "the bottom line" here on fox business. thanks, sean. see you again soon. >> thanks, stuart. stuart: the cook political report, very famous, it just
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moved one dem democrat senate seat to the toss-up column heading into november. which one? lauren: nevada, jackie rosen. he joins montana, ohio in this toss-up category for november meaning that seat, all those seats i just mentioned, can flip red. just like that. it's a very easy win for a republican. the deal with nevada is that senator rosen has defended biden's record on inflation and on immigration. huge issues in nevada and, obviously, nationally. there's a problem. politico is reporting that president biden is now, because he's losing on these issues, trying to change the script. he's reportedly bringing on new pollsters in a realization that manager's wrong with the messaging -- something's wrong with the messaging. maybe he wants to see different polls, different results -- [laughter] but he's reportedly bringing on new pollsters to five in and figure out why they're losing the groups that they carried in
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a big way four years ago. stuart: he wants to turn things around, and he wants to use people who were effective in 2022 when the democrats did quite well in the midterms -- lauren: abortion. stuart: he's using them. let's see if it works, who knows? thank you, lauren. check futures, please. thursday morning, plenty of green. nasdaq up 172, dow up 200. coming up, president biden showed up an hour late to his event at the white house yesterday. when he did arrive, he made brief, confusing remarks and had cpap marx on his face. that sounds strange the, but with an 81-year-old president, this is the significant. we're not piling on here. that's my take later in the show. biden will hold a phone call with benjamin netanyahued today, their first call since the israeli strike that killed an american in gaza. what exactly is the biden-israel relationship and where do republicans stand on this? we've got the full report next next. ♪
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stuart: president biden will speak with prime minister benjamin netanyahu later today. the relationship between the two has been strained in recent weeks. mark meredith at the white house. what can we expect from today's call? >> reporter: stu, good morning to you. we expect the white house to convey that president biden is both outraged and and heart broken over the deaths of these seven aid workers in gaza because, of course, this is the result of an israeli military campaign, and there's been a lot of questions about a tactics here. one of those aid workers was an american, and we expect this to be a big part of the conversation today when president biden speaks by phone with his israeli counterpart. the u.s. says it continues to urge israel to use caution, to make sure that they don't lead
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to any additional civilian deaths, and now the u.s. is pressing israel to explain exactly what happened. >> we leave it to, obviouslyies israeli government to do that investigation. but we want to make sure that it's the swift, it's comprehensive, that it's made public, and it is important we need to get to, certainly, get to the bottom of exactly what happened. >> reporter: now, the president is under increasing pressure including from members of his own party to find a way to stop the violence between israel and hamas. "the new york times" reports the first lady is among those trying to find a solution. it adds a emergency of the president's closest aide as including senator chris coons of delaware have pressed the president to to do more to increase humanitarian aid to gaza and bring an end to the war including by support being restrictions on military aid to the israelis. it's likely we're going to get a readout of the call, a white houses briefing as a well, so we'll see what the israelis have to say. but the white house has not indicated any change in their stance towards israel since
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these civilians' death. obvious, it's gaperred a lot of headlines, and the president has spoken to the head of the organization that leads that charity work, certainly an indication they're taking it seriously. stuart: all right, mark meredith, thank you very much, indeed. congressman brad wenstrup joins me now. where do the republicans stand on israel's war with hamas? >> well, i think we stand with israel, and they certainly have every reason to be at war if you just look at what we have had the opportunity to see of what took place on october 7th with hamas really having the mission of weapon is side of all jews. they're born and raised with it. it doesn't mean every palestinian feels that way, but that's the feeling of hamas. the reaction from israel is that they are at a war, they are at war with hamas, and they feel that they need to go on to rickety. now, what happened with those -- to victory. what happened with those aid workers, etc., is sad. and netanyahu has come out and said we made a mistake. i don't know if it was an intelligence failure or if someone just put the sights on the wrong place.
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that does need to be determined, and it does need to come out swiftly. and the good news is he's admitted that it was a mistake. but they're fighting a war right now that hamas does not seem to want to surrender. they could be releasing hostages, they could be doing things that would put an end to this. there was a ceasefire before october 7th, so calling for a ceasefire if is almost kind of ironic, to me, when they can ask for that because hamas refuses to go that route. and hamas is using civilians as their shield. and that, to me, is almost a war crime in my mind. so there's a lot of moving parts to this, but we do support israel. we don't support when mistakes are made, but that happens in war, unfortunately, and we can't ignore it. stuart: the republicans support israel, the democrats are split on that issue. change of subject. you're the chair of the house covid subcommittee, and in the future you're going to be talking to signs journal editors, i understand. are you going to ask them about the wuhan lab and where covid
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started? >> well, they certainly should want to weigh in on this because they published articles that seemed to want to ignore it. and let's just be clear, a published article doesn't mean that it's been peer reviewed and that it's been going through the scrutiny that it should take from scientists. you just look at proximal origins which was published, and and we're bringing in people from science magazine, nature magazine and the atlantat, at least -- lancet, at least we've invited them. we want the american people to understand something published doesn't end mean it's right -- >> congressman, forgive me for interrupting you, i do apologize. >> no problem. stuart: it seems to me that covid and our reaction to it was a public health policy disaster. now, am i going too far? would you agree with that? >> no, i would say that's completely true. if you look at a what happened when anybody had the hypothesis of it being a lab leak theory or
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hypothesis, they were scrutinize, they were canceled, they were put down. you had these, you had the lancet or nature if magazine publishing approximate if mall origins -- proximal origins. proximal origins, basically, was written by people that were prompted to write it e by dr. fauci, and all they really talked about was the possibility that it came from nature. if you read this article, it's full of assumptions and what ifs, and it completely ignores the lab leak theory. and internally in their discussions, the same authors are say, well, we can't rule out that this came from a lab. it certainly looks engineered. so there's a problem with using these, these scientific journals as a beat-all, end-all and was the government, our federal government, our public health officials involved with it. stuart: yep. just got to get to the bottom of it. congressman, thanks very much for joining us this morning, appreciate it. treasury secretary yellen is considering measures to counter economic aggression from china. actually, she's on her way to
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china very soon, i think. what measures is she talking about? lauren: a range of options are on the table. so you're going to hear from the treasury secretary now. she is on her way to china for her second visit in nine months. >> we are trying to nurture an industry and, for example, solar cells, electric batteries, electric vehicles. and these are actually all areas where we think that massive investment in china is creating some overcapacity. so we're providing tax subsidies to some of these sectors, and i wouldn't want to room out -- rule out other possible, other possible ways in which we would protect them. lauren: okay. let's consider the source here. janet yellen is joe biden's mouthpiece on china. she has a are very friendly relationship with her counterparts there. i think her message just got a lot stronger. she's telling beijing, stop relying on cheap exports to prop
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up your economy because that overspill is hurting us, our industry and our workers. it's a carrot approach, but she's trying to shift chinese economic policy because they know donald trump is going to try to do this. i don't know if you can shift it, i don't know how you shift it, but -- stuart: true. but the unspoken word there is tariffs. is that our stick that we will hit china with? >> and we're relying on china for clean energy when we have the most oil in the world? it's crazy. she's not doing the right thing. stuart: yeah. i wish we had more time for this. this is very interesting, but e don't. check futures briefly, dow up 200, nasdaq up 170. the opening bell is next. ♪ so am i wrong for thinking that we could be with something for real? ♪ now, am i wrong -- trading at schwab is now powered by ameritrade,
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and they certainly have a lot of a.i. technology in their cars, but they have had an a.i. leader for a long time that i think they're losing. and we're also a seeing the really manufacturing intensive nature of tesla coming to the fore in their margins. their margins are getting reduced. still great cars, still a good company. but those others, you know, i think you see lulu, they have not been using their database as they should. their fourth quarter earnings showed it, and they got slammed. 3 america, same thing. -- 3m, same thing. they've not been using any of that technology to help with their manufacturing or dealing with the big thing with them, dealing with their environmental issues. so i think those things are happening to keep all of those pressed down right now. stuart: why do you like costco? everybody who comes on this program seems to like costco's stock even at $. 00 -- $700 a share.
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you like it. where's it going? >> i think it's already are been up, up 10% higher than this just a little while ago, stuart. i think it has that and more to go. one of the few retailers still the expanding, still adding places. and i'll tell you what, they keep a full store of people every time i go to a costco -- and, yes, i love shopping there too -- they have, they're full and they're keeping prices on a lot of items down, keeping more and more people coming in paying those tasty membership fees. i think this stock has more upside to go. they're doing some interesting things with a. a.i. on the advertising side. stuart: yeah, you're right. the membership fees, they really add to their bottom line. d.r. are, thanks for joining us. see you again soon. the the bell has just rung, and we're expecting a strong upside move for all three of the exchanges -- not exchange, what are they finish. >> indices. stuart: yes, sir. all three of them are supposed to go up sharply right at the
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opening bell. all right. the opening bell has sounded, and i've got 29, all 30, every single one of the dow stocks, you don't see that are often, every single one of them on the upside this morning. the dow's up 250. that is two-thirds of 1%. the s&p 500 also a opening higher, over three-quarters of 1% to the upside. 411 points higher. the nasdaq is up -- 41 points. the nasdaq is up .11. show me big -- .91. show me big it can, please. meta, amazon, apple, microsoft are up, and the only loser is alphabet. interesting. as in google. amazon though nearing an all-time high. the stock price is now $183. what's the story? lauren: so they're prioritizing their future, which is artificial intelligence, and that means job cuts. the "wall street journal" e says amazon plans to cut several hundred jobs in sales, marketing and global services from aws. amazon web services.
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that is the moneymaker. its cloud computing business. and also from the team, the technology that powers, like, the -- when you can just walk out of their stores. stuart: yep. lauren: okay? they're replacing the system they have now. they're targeting areas that could be streamlined to allow for more a.i. spending. they've already spent $4 million on anthropic. stuart: do you like amazon? >> ohing yeah it's core ingenuity, effectively the fangs, plus pal lowal alto software, sales forest.com, you've got to have that core group. stuart: show me apple, please. i believe it's just broken above 1700. yeah, just broke -- 170. they're looking to some new projects. like what? if. lauren: perm robots. that's according to -- personal robots. so, basically, a robot would follow you around your home. stuart: i don't see that. [laughter] it's like the goggles, sorry. >> i know. lauren: having a personal mailed, a butler. look, i have children, i would love someone to follow them around the house to clean up
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after them, but that's the point of an allowance or chores? [laughter] how are we going to raise kids -- stuart: will it fold the laundry? if. lauren: i think eventually, yes. will it put it away, i know. >> yeah. will it bathe the kids and put them to bed -- [laughter] lauren: what do we do? nothing but just relax all a day? i have no idea. the report also says it would be an additional tabletop device that uses robotics to adjust the display screen to follow your movements. i would feel spied on. stuart: yeah, i don't want that. lauren: and stalked all day long. that's, according to bloomberg, the next big thing for apple, your home. stuart: let's say i'm a later adopter, that's the way i am. the chip makers, they've already had a pretty good rally. why are they up again? >> beautiful. lauren: so a.i.. let's talk about micron specifically. at about 8, 9 trading sessions ago, that's it, 8-9 trade thing sessions, march 21st, micron
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came out with earning, really good forecast, and the stock went up. they fueled demand for its a.i. hardware, put it that a way. since march 21st, micron is up by 33. stuart: march 21st -- lauren: just a few days ago. overall, the chipmakerrers are getting a boost today. i would say the reason is out of south korea. one of their chip companies, sk -- is investing almost $4 billion to build their first ever chip packaging facility in the u.s. in indiana with mass production if slated for 2028. stuart: we'll take it. lauren: we'll take it. stuart: rental car company let's. i think they -- hertz. i think they got a down dwrai.d is this -- downgrade. lauren: goldman sachs did cut hertz to sell. they say there's no to growth catalysts. they're pressured by old cars, right? little depreciation. where do they grow from here? overall, gold nancys -- thinks
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that the -- goldman thinks that the efforts to turn around failed. down 5%. stuart: got it. block, that is a payment services company, i understand. they've got a downgrade. who doesn't like them? lap lap morgan stanley says sell. the price target is $60. the heed e january price target on the street is $92. so block has cash app a, that's how people pay each other, you transfer money phone to phone. it's a great service, but it's tapped out. it has the gen-z demographic already. there's no growth for it. that's the issue that morgan has with block. >> with i totally disagree with morgan stanley and i'm long it. you talk about actually tapped out? no. cash app has been growing 30-40%. i don't know why morgan thinks it's tapped out. you looked at square, the little device that plugs into the phone, that was how they originally started so you could turn your phone into a payments
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processer. that, too, is growing at about 20%. i don't understand why morgan is saying sell. and as you pointed out, lauren, the average target is up in the 90s. mine if's quite a bit higher than that. la. lauren: what's your target? >> my target's up at 150. stuart: saw 150? >> but i'm willing to go out farther than the analysts. you try to be accurate 12 months out, and if you can hit the nail on the head, you get a higher rating from institutional investors. that's the game that the wall street analysts play. i don't have to play that game. i'm a money managerful people give me their money say go build it for me, and i don't care if it takes a year, two years or three years, so i can afford to go out longer, that's why i have a 1500 target the -- 150 target. lauren: morgan stanley has 60. stuart: we have a disagreement right there. >> we have a disagreement. stuart: you brought other stock picks with you. first off, wait a minute, ford motor company? >> boring ford. we're over evs. that's been with one of the themes of this conversation this morning.
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that's why it's so ironic that janet yellen's over there in china doing more ev deals. we don't need your evs, janet. no, china, we don't need your solar panels. we've got plenty of energy right here in the u.s. of a. i like ford because it's trading only at 7 times earnings, one-third the value of the s&p 500. stuart: target? >> my target is $25. so it's a trouble from here. it was 25 a year and a half ago a, stuart. it yields 5%. it's growing. the uaw settlement was no big deal, $800 per car, that's the cost of the high or uaw contracts, and they've raised prices. so we're off to the races at ford. i'm very comfortable owning it. stuart: okay, all right. >> i'm not done, stuart -- [laughter] you know what they say about guys like me, they say frequently wrong but never in doubt, right? [laughter] at least i've got a viewpoint. stuart: next one is city synopsis. what do today do? >> they are in the sweet spot. this is a company that helps other companies design
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semiconductors. they are number one in the world at doing that. and they are number two in the world for the intellectual protocols that enable that to happen. this company has beaten earnings estimates every single quarter for five year where is. and and not only have they beaten estimates, but every single quarter for five years they have raised guidance. so by 7, and the stock the next day on average is up 4%. remember what i just said about the way the game is played on wall street with, you move your target opportunity as the price goes up and you try to nail it? if you just look at the target for the stock and the stock price itself, it just deep -- keeps going up. stuart: is it an american company? >> oh, or yeah, you better believe it. i don't buy a company that's not american. stuart: okay. thank you, adam. coming up, steven a. smith is calling out hillary clinton after she told voters who were upset about a biden-trump rematch to get over it. roll it. >> i don't think it was a very wise statement on her part.
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[laughter] how did that work out for her in 2016? the last thing you need to do is to do anything that could agitate a potential voter in this particular election. stuart: okay. was that another deplorables moment from hillary? we're going to get into it, i promise. remember the new york city my migrant squatters arrested on gun and drug charges then released immediately? they've been rearrested. i guess you could call that progress. we've got the story. is elon musk distractedded from tesla, is that part of the reason tesla's been selling off? steve wesley is a former tesla board member. he says things are going to turn around for tesla. steve is here and he's next. ♪ you've already won me over in spite of me. ♪ don't be alarmed if i call head over feet ♪
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stuart: well, now, google is considering charging for some a.i. search features. kelly o'grady with me this morning. do we know which features and what's the charge? [laughter] >> reporter: google hasn't publicly announced these efforts yet. i did speak with a source within the company, and they did say that they're putting, evaluating putting some of these search a.i. functions behind a paywall. their search product if has alls been ad supported, and, in fact, a.i.-powered search, that could scour, smears lengthy research, so that could cannibalize some of their son sored ad a revenue -- sponsored. the company shared: we're not considering an ad-free search experience, as we've done many times before, we'll continue to build new premium capabilities and services to enhance our subscription offerings. google would join a host of other subscription chat bots. they both offer paid version ises starting at $19.99.
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google, of course, has their premium option for gemini, and then premium plus users of, and can access. if it feels like you may be collecting chat bot subscription, the likely outcome is more of a winner take all or a segmented market based on use with you are -- user or business needs. this comes on the heels of the very public misstep with gemini, remember, it was returning historically inaccurate images like a female pope. ceo zinn hard pichai says they are committed to getting that right. >> i think that's different from a chat bot, and i think that's the more activated research where sometimes it has its voice. how do you get those moments right? you know, again, it's an area where we will be deeply committed to getting it right. >> reporter: the way to thinking it -- think about it is this, or all these companies are pouring billions into a.i., at some point wall street is going
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to need to see a return. i think that underscores that shift towards monetization. stuart: charge for it. bottom line, charge for it. what do you think of that, adam? >> i think google is becoming a show me story, and i think kelly just outlined exactly rye -- why, right? they're experimenting with an a.i. edition to search. search is, that's the golden egg e, so you don't want to kill it. maybe they can make money, but the a.i. rollout hasn't exactly been ideal. they have to show us that they can get this right. i think they will, it's google. i own the stock. of i'm not going to sell i. okay, fine, it's down a little bit, but they've got to prove they can do it. again, it's a show me story. stuart: that's very honest. well done. >> well, you know, you have to be -- when someone says that she or he gets them all right, nobody buys the bottom, nobody sells the top, nobody gets every stock right, but we do do our. stuart: thank you very much, adam. quick look at a tesla, please. the stock this morning, the market is open and the stock is down is 111 cents, $-- 11 cents.
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steve wesley is a former tesla board member. steve, or why do you think that tesla's stock is going up from here? make your case, please. >> well, look, i think the world is bullish about evs. there's no doubt about it, tesla had a dismal if quarter, but with we all know why. deliveries dropped from 484,000 q1 last year to 386,000 this year, first time in four years tesla's numbers have dropped. they've got serious work to do. but here's why: china shut down their, they shut down their shanghai plant for two weeks. europe had supply chain issues getting things through the suez canal if because of the middle east conflict. germany, there was arson. these are one-off a events. and fremont, one of the largest facilities, did a plant shutdown to upgrade the mold 3. that's unlikely to be repeated next quarter and later in the if
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year. the cyber or truck's been a flop, and the $25,000 car is late. looking forward, it looks like a tough year, but it still managed to take the crowd from byd -- [inaudible] stuart: okay. but tell me what turns things around a for tesla? what take -- makes that stock go up? >> well, i i think long term the $25,000 car, and they're probably ahead of everybody in the acon the mouse vehicle -- autonomous vehicle ca guy. you're absolutely right, that's why 2024's going to be tough. you've not to ramp up supercharger and service revenues. keep in mind it's the first year where all ev drivers are going to be allowed to use the tesla charger. so that's good news. i think they're going to produce about $10 billion in that category. secondly, and most people don't even know tesla has an energy division can, but it's the fastest growing division in the company, grew 54% last year. i think this year $9-10 billion
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in revenue there. third thing x this is controversial, but they're pushing hard that they have this new unboxed manufacturing process. so, you know, for a hundred years henry ford single-line automotive process. what they're saying now is they can take the one-line process, break it into three or four and then reassemble it at the very end like legos. they say it can save as much as 50% in manufacturing costs. that's probably a little optimistic. but even if they can drop manufacturing costs by a quarter by doing something dramatic on the assembly line, those are big deals. at the end of the day, you've got to get the $25,000 car out. stuart: okay. to sum it up, 2024's going to be a tough year for tesla, but they pick up steam in 2025 and there on out. i've got it. steve wesley, thank you very much for being with us. come back soon. >> you bet. happy to be here. stuart: you got it. coming up, working hard, it's out of style. climbing the career lad orer,
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it's okay as long as it doesn't interfere with your personal work-life balance. these days ambition with must not yet the upper or hand. i don't like all of that, and it's going to be my take at the top of the hour. sanctuary cities are spending billions on handouts to the migrant crisis. prepaid debit cards, free health care and a whole lot more. the full story after this. ♪ so, you have diabetes, and your glucose is heading low. [ alert sound ] dexcom g7, the most accurate cgm, can alert you before you go too low. now, that's more peace of mind with dexcom g7. ♪ ♪ she runs and plays like a puppy again.
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stuart: democrats in major cities spending billions on migrant handouts while green lighting plans to spend even more. madison alworth's been researching this. what are may grants actually getting -- migrants actually getting? if. >> reporter: we have been compiling a list of exactly what you could get if you live in any of these big blue cities where they're spending billions of dollars, tons of benefits that many americans don't qualify for. let's start with new york. the city has spent $1.5 billion on migrant services. if you are a migrant here, you are guaranteed housing. some of those folks are placed in hotel rooms that average $300 a night. then you could be a migrant that qualifies to be part of the $53 million debit card program. that means that the migrants are handed $1,000 on a debit card
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each and every month. then you add in s. new mexico a.p. by fetes, and we're talking an additional $1,ed 400. moving to los angeles, migrants there are given full coverage health insurance, and and soon second also get $1,000 a month through the city's new guaranteed income pilot program which is immigration status blind, meaning you could get it even if you're not here legally. in chicago they have spent $300 million since 2023 on migrants. that includes things like food, even laundry services. part of that goes towards rental assistance. if you're a migrant there, you could get $15,000 to help pay for your housing. this is just three cities. i couldn't even cover all of cities in this report. d.c., boston, denver all paying millions in social services and benefits. it's standarding -- starting to add up. illinois has now started to cut health care for my grants.
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they were overing free health care to almost everyone. now, starting may 1st, they're cutting off freeway health care if you've been here less than five years. that's going to be $13 million in saving, but it doesn't even begin to cover all that's being spent. stuart: enormous amount of money. adam a, thanks very much for joining us. always appreciate it, thank you. still ahead, tom homan on federal agents rearresting three migrants at that squatter house in new york city. jason rantz on seattle public schools shutting down their gifted and and talented program. they say there were just too many white and asian students. ben domenech on democrat calls for justice sotomayor to retire from the supreme court. and dr. marty makary on youngsters' work with schedules that could harm their health decades later. the 10:00 hour is next. ♪ i'm giving you everything, all the joy, this i swear ♪ if
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