♪ jacqui: i like news. i like this kind of push. know what i mean. what do you think of me now? that was his song. just like that. little aggressive. all right, sports fans, it is 10:59 here on the east coast of these united states. not quite 11:00 yet. it's thursday, may 2 and waiting president biden's remarks from the white house and we'll bring them to you when we get them. quick market check, please. dow is up nearly 200 points and nasdaq up 114. the rally is built since the opening bell. not bad. alphabet, $1.39 and microsoft shy at $4 a share.

yield on 10-year treasury, well below 470. maybe that's an inspiration for the nasdaq. 462 right now. now this, the president has an electric vehicle problem. they're not selling well. they're expensive and consumer haves developed range anxiety. this is not guilty good for a man -- this is not good news for a man that staked his presidency on combating change. china has a giant auto show in beijing and most on display are electric and reportedly they're packed with really good new technology and they're cheap. roughly $30,000 a piece, half the price of average ev in america. and they're selling well in asia and we could use cheap reliable evs here. we don't like the communist party but they're green. biden won't let them in.

china's evs stay out. biden could bring them in and electrification moving forward and also decimate the auto industry and china's subsidies are unfair and china cheap e vs "could flood our market and i'm not going to let that on our watch". it's a politically easy choice and saving the auto industry and poking the communist party in the eye at the same time but it's going to cost american taxpayer as lot of money. subsidies and incentives required to save the domestic auto industry is astronomical. good choice. third hour of varney starts now.

brian brenberg with me this morning. should we embrace cheap chinese ev s? >> i'm not following that argument today. i think going down this road is a big mess. we don't need chinese evs or -- stuart: this was that was the worst idea? >> i've been on this show many times and studied your my takes and they're almost always excellent, sir. you are a paragon of clarity, but i don't know where you stand on that one, stu. what's the bottom line here? stuart: i was pointing out biden'dilemma and not coming down on either side. if you want to encourage electrification, buy the cheap evs. >> you're not a guy that sits on the fence. you are a economist on one hand and on on the other hand, what are you calling for, stuart? give it to me straight. stuart: i don't know. >> you don't know? stuart: no, i don't know. >> i do. quit subsidizing chinese e

haveses and making americans buy cars they don't want and let us buy good, american cars and move on. the third hour of varney is about to begin. stuart: yes, it is because i'm going to move to a subject that's more jermaine than what's going on in the news today. you, brian, sat down with a group of jewish students and heard their firsthand accounts of what these protests are like. roll the clip, please. roll it. >> someone winning the hamas flag came in and my friend and i actually talked to public safety and asked them to remove this very dangerous student but turns out he wasn't even student and public safety said the hamas flag is a symbol and not really inciting violence and we were left to see a terrorist on campus. stuart: what shocked you most

>> they told me stories about professors and part of the barrier and they'll make sure other jewish students and others copt get into the encampment. stuart: really? >> about professors that would move their classes outside in proximity to the encampment. so that the class had to feel that presence there. i mean, these are the people you're paying to educate you to be mature and wise and they are like -- i want to say grown up students, but they're not grown up. they're just old students, old activists and these young people who pay a lot of money and work very hard to get there are sitting at their feet. stuart: what do you think would happen to a professor that linked arms with white supremacist keeping black folks out of the university.

their job is keeping training runrunning and professor moving from other parts of the campus because they're not part of the cause, and they are employed for life because they've got tenure. stuart: you're a former professor, 14 years as professor. how would you reform places like columbia or ny and you recollects guilty of anti-semitism. >> this is a money problem. can't have tenure without government subsidies and get rid of radical departments and doing that, what you're left with is a college. we're trying to get back to a college and the biggest encumbrance is government and sadly nobody has the guts to talk about real reform at higher ed and all hold people

accountable. how do you do that if you don't cut the money? it's not understood wantly soros money making in happen. it's taxpayer money. it's taxpayer subsidies. that's 99% of what keeps this thing going. stuart: one of the days, brian, tell me how you really feel and that's a fact. >> this was my old stomping ground. stuart: it's a coup. >> most of my life was dedicated and i care about it. stuart: brian, stay with us for the hour. i want to move on to the markets and we're about 96 minutes into the trading session. we're up nearly 200 on the dow. up 115 on the nasdaq and i want to check on apple, please. they report after the bell today as you're walking up to the numbers, there's up 171 on apple aaround 4, 415 this afternoon. what does apple need to do to get their stock out of the dull

drawns where it's been. >> sales down 9% for the quarter and china is the biggest markets and local competitors easing into the margins and market and huawei fun like a huge chunk out of market and they're on 19% in sales over there, which is huge and over the years, we've got about a 2% decline in sales for iphone and that's like over 50% of revenue. so i don't know. stock doesn't trade cheap, stuart. like 26 types forward earnings. i think this is a stock that needs to trade lower. it's going to be a long road. stuart: i'm going to listen to the road and that's where the interesting stuff comes out and they try to throw a bone to investors and make them buy the stock.

brian, hold on a second and we understand the president emerged at white house and watching that remark. we'll listen. the first is right to free speech and peacefully asemi-and will rule of law and both must be upheld and we're not an authoritarian nation and silence people and squash dissent. american people are heard. in fact, peaceful protests is in the best pr tradition of americs responding to consequential issues. but, but, these are we a lawless country. we're a big, diverse, free thinking and freedom loving nation.

peaceful protests in america, violent protest is not protected. peaceful protest is. it's against the law of violence occurring and destroying property is not a peaceful protest. it's against the law. vandalism and trespass breaking windows and shutting down campuses and forcing cancellation of graduation and classes and none is a peaceful protest and threatening people, intimidating people, instilling fear in people is not peaceful protests. it's against the law. dissent is essential to democracy but must never lead to disorder and deny the rights of others and students can finish semester and the college education. the right to protest and the right to cause chaos. right to cause education and right to get a degree and right

to walk across campus safely without fear of being attacked and be clear about this as well. there should be no place on any campus no place in america for anti-semitism or threats of violence against jewish students. there's no place for hate speech or violence of any kind whether it's anti-semitism, islam phobia or discrimination against arab americans or palestinian americans. it's simply wrong and no place for racism in america. it doesn't mean anything goes. needs to be done without violence, without destruction and without hate and within the law. make no mistake, as president i'll always defend free speech and always be just as strong in

standing up for the rule of law. that's my responsibility to you, the american people, my obligation of the constitution. >> mr. president, the former president said he was no longer -- stuart: okay, the president very briefly answered one question there. he was asked has the demonstrations affected your mideast policy and one word response he said no. lauren: only question he took and that was the best question to ask because as we're seeing the protests across the country, what is the red line? the president just said the red line is violence, but he didn't set the record straight on the morality of what's going on. the protesters think they can change his policies.

stuart: there's no place for anti-semitism or islam phobia either and is that a moral equivalence? what's the islam phobia and your reaction? this has been royaling for a week, two, three and how many campuses and severe and this week, we got two and a half minutes and he said the same thing over 12 times. he said, he said speech is good, but you got to obey the law. speech is good but you have to obey the law and speech is good and obey the law. said that about 12 times and didn't advance the conversation. whether's the leadership we say of the president speaking and we now have clarity on what should be happening on campuses. do the students on campus feel like there's accountability coming and what did he mention?

nothing. stuart: we knew he'd make remarks or getting on the helicopter and making remarks and think about that, that would have been unscripted and off the cusp response to something and how he really feels and not in a position to speak freely like that. presented with reporter questions and going into the it's not him being in a position to speak his own words and he's in the best position of anyone in the world to seek probably

took two and a half minutes to write and that's what you've got in america. stuart: all right, brian, thank you for being on the show. this is a purely political discussion here. >> i wish i could come in like brian. stuart: there's no impact on the market. there you go. ashley: he's trying to get into trump's head poking fun at former president and apparently just trying to get under his sin and seems the biden campaign is taking on car zags ick and personal approach. watch this. inject a little bleach in your vein. >> it all went to his hair. sleepy don. i like that and may use that

again. ashley: he's made fun of the stock of trump's social and poked fun at trump's mental health. the trump campaign has been firing back as you can imagine saying that biden spends most of his time trying to explain away losing his memory while shuffling his feet like a short circuited roomba. battle of insults and biden may regret stuart: a soprano star has a hot take on politics and hollywood. celebrities are terrified to speak out against biden's extreme left agenda.

our next guest drea is joining us. how much support does the far left actually have in hollywood? seems like a lot and not sure it's that much. lauren: she's an actor. how does she deal with this messup and it's the deal. deal. lurks she's dealing with the -- you know, audience. stuart: can't fix the question in the immediate future. we'll try to move on. there's a new push to fix the homeless crisis in los angeles. bail me out, ashley and tell me the plan.

>> all the billioning in fund asking really going. the vote comes after governor gavin newsom's council on homelessness blamed local government for state audit and report that had california has failed to track how billions of dollars were being spent on the homelessness crisis and last month cairns bass pleaded with the most fortunate of people out there to help fund housing for the homeless. you just can't make it up, stu. stuart: okay. going back to drea who can now hear me. is that accurate? can you hear me?

>> news everywhere. i'm sorry. stuart: there's a lot of people in hollywood that are afraid to speak out, even though they really oppose biden's far left agendarme how much real support does the far left have in hollywood? >> we just have to follow the money and all that sort of stuff. i don't know hollywood well and i said this thing on donald trump jr. but i don't know very much people in the industry. i do know that people are fired of it and there's very few people willing to speak out and people normally and people are afraid this. is not -- doesn't feel like a democracy anymore. feels like we're getting further and further away from -- feels

like we're dealing with unaffected officials at this point. stuart: what was the response to you when you spoke out? >> i accidently spoke out and had no intentions of being this person on fox news. ever in my life i was always very anonymous. i started a fan page on a website so that evidence of infection wouldn't have to comply to the hollywood guidelines that caused a lot of uproar sort of in my little world and then all of a sudden i was speaking the truth about my situation, which led to more and more just freedom talks and the social issue these days and it's what's tearing everybody apart. we immediate to focus on the global issue and what's really

going on behind the facade. i don't think a lot of my friends recognize that yet. but i think there needs to be more awareness. stuart: can i ask you quickly if you heard president biden and his presentation a few minutes ago on the college campuses and hear what he had to say? >> i mean, i don't think they wrote him the most legacy speech. i don't know if that's what he has to say and i don't know if anything he says is something, the man needs to take a rest. they need to stop using him as the poster child for their agenda. it's sad. it's not humane. stuart: i'm going to leave it right there before we get into really dangerous territory.

drea de smokers matteo, we're leaving it right there. thank you very much. we're going to stay in los angeles. it's been a year since the hollywood writer strike had tv and movie production gone back k to normal yet? lauren: no, it's down 7% in the first three months of this year and 73 shows actively shooting right now in the country versus 136 at the same point before the strikes. so that suggests that six months chilled the industry and rebound was pretty slow. stuart: it has indeed. thank you, lauren. coming up, biden administration has given over $1 billion to milwaukee. wisconsin is a swing state and is this just an example of vote buying. nice try? we'll break it down for you. police arrested protesters and encampments at ucl a and professor at the school who was assaulted by the protesters shares his firsthand account of what's going on. he'll join us after this.

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♪ i'm gonna hold you forever... ♪ ♪ i'll be there... ♪ ♪ you don't... ♪ ♪ you don't have to worry... ♪ stuart: dow up 200 and nasdaq up 126 and been in the green all morning. lauren is looking at movers including houmette. lauren: taxpayers an aerospace company and demand for airplane parts is huge. increased outlook for the year and sees sales rising through 2027. ceo comments on what's going on at boeing, which is one of their main customers and, yeah, he said boeing will trim their orders but they don't think that'll affect them overall as you can see by the reaction.

stuart: show me wendys. it's in the green. lauren: management saying households making under $75,000 are coming in less. they saw that and change the narrative and offered more deals for price conscious consumers and it worked. profits went up, breakfast sales stronger. stuart: stock up 3.6%. they'll take that. thanks, lauren. chaos and violence breaking out on ucla campus overnight. watch this, please. roll it. that's pretty gad stuff and a lot more where that came from too. william la jeunesse is at ucla hawaii are you seeing now, all quiet? reporter: yeah, stuart, this area is closed and no more in-person classes till monday and university wants students to

avoid this quad area. you can maybe see why right here. here is the aftermath. this is what the encampment looks like now. about 12 hours after lapd and chp and sheriff's office arrived here. that was about 6:00 yesterday, and police came and said, listen, this is unlawful assembly and need to disburse. most people did not. in fact, it brought students from around the campus. we got here last night around midnight. there had to be 1500 students around the perimeter of the quad area. there was great concern by police when they moved in on the encampment, these students were going to break over the barricades and make it very problematic. instead, surgical work, law enforcement was able to close off kind of l alley ways adjacent to where we are. you saw the video from last night and they peeled back layers.

first of all, going after the fences, taking these out. see them in the foreground here and then the plywood. four by eight pieces and inches of plywood and pal l els to barricade themselves in and srt team from chp and moved in and began to arrest people. one by one by one and 10 by 15 coming out and police took everything down border to boarder and wall to wall moved in. they had gas masks and helmet on and goggles on and all prepared and indeed police crumbled. much bigger than probably 70% of the people inside here were women. and they started getting arrested. police said, listen, if you don't to want be arrested, walk away and those people that were, that was intentional. also we're told that there were

a number of faculty members arrested as well. at this point in time for the last two hours, there was nobody here. now police moved back in and scavengers left and they're clearing the area and will probably take the better part of the day. one thing, stuart, there's graffiti spray painted on all the buildings. this one as well as library as well. that is going to cost a lot of money to take out. back to you. stuart: i'd like to know who pays for that too. william, good stuff. thank you. joining me is a professor from ucla. dr. near hofmann. doctor, you were assaulted during the protest. can you tell us exactly what happened in >> i will but first just to answer your question, i'll be paying for it. yes, i was assaulted, and i was in the middle of giving a fox news interview, and i was walking towards the quad on monday. a couple of, i don't know if they were students but definitely protesters tried to

block my way when i tried to walk around them, a third one came in and basically tackled me from the side. my air pod threw out of my ear and one must have grab bed it ad stole it and went back to their encampment. private security standing all around and they did absolutely nothing. stuart: geez. who do you blame for this, for the anti-semitism breaking out all over the college campuses? who do you blame? >> honestly, i don't know who's organizing this. it's clearly organized. i think in general, the administration of ucla allowed this to snowball. it started -- we know when it started on thursday when four giant buses showed up and a bunch of people came off and joined students and started this encampment right after usc encampment was taken down. the leadership should have not allowed this to begin. and grow and grow and grow. they can't say that they weren't

warned because i specifically went to the police several times, warned them. we sent letters, e-mail communications to the leadership. they just ignored it. stuart: i don't know whether you heard the president, but just moments ago, about 20 minutes ago, he delivered a two and a half minute statement on what has been going on on college campuses. i'll senzatela size it that there was there's no place for this on college campuses. >> i agree. there should be no discrimination or hate against any group in america. that's what makes this country so great. stuart: professor, all i see -- sorry to interrupt you, sir. all i've seen on these campuses is naked, raw, anti-semitism. i've not seen islam phobia. >> you know, i myself was

attacked by these people. so i saw anti-semitism. other people saying there's islam phobia. i don't necessarily think you have to constantly link them together and they can both be there and condemn them. stuart: d thank you very much. appreciate it and sorry to hear what happened to you. are you going back to ucla? >> you know, i'm not leaving ucla. i did get the law fare project helping me out with legal issues and this is not a time to run from ucla or america. we have to fight for the principles of founding fathers of this country, which is to

have freedom and security and good life. stuart: professor, great to have you on the show. thank you for being here. >> yes, sir. stuart: we have a new poll showing voters growing concerned over the rise of fascism and extremism in america. what number dos we have, ash? ashley: different reasons and respondents asked to pick the issues that concerned citizens the most and 47% of democrats cited a rise of fascism and extremism as their biggest worry and 15% of republicans agreed with that. however, 36% of republicans said a lack of values was their top concern compared to just 14% of democrats. overall the poll shows biden in a statistical tie with trump leading by just 50-48%. however, it does show that biden

that won voters under 45 in double digits by 2020 is tied with trump in that age group. also, biden won nonwhite voters by 25 points in 2020. the survey shows his lead among that group has been cut in half. interesting. stu. stuart: and the alarm bells are ringing i'm sure. thanks, ash. coming up, number of states are suing the ncaa for placing what they call unfair limits on student athlete cracks. riley gains is former ncaa swimmer. is she okay with any restrictions on student athlete contracts? we'll ask her because she's on the show. bidenomics flat out economic warfare. that's a strong accusation. economist peter maurici tells us if trump is right. he's next. ♪

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stuart: hillary, has the fed ruled out a rate hike? reporter: well, stuart, they haven't ruled o out a rate hike but didn't hike rate this is time but didn't cut them either, which is something that some democrats really wanted to see to ease pressure on housing costs but inflation is still high so the fed deciding to keep rates where they are for the sixth straight month and inflation is not coming down as fast as they'd like and it's ticking and you happen moving in the wrong direction. in march, cpi inflation showing inflation increased 4.3% and jerome powell admitted he doesn't know what the future holds. >> inflation is still too high and further progress in bringing it down is not ass assured and h

forward is uncertain. reporter: powell denied they would opportunistic to hike rates and getting inflation down to desired 2% level telling fox business they think it'll take time to get back to 2% but nay don't see a reason to believe that keeping rates where they are will not eventually bring inflation down to that desired level. >> going with this administration and we believe the federal reserve is independent. reporter: stagflation percolated at fed and chair jerome powell and don't see the stag or the flation. stuart: good line. thank you, hillary. peter maurici is a accomplished economist and joining us now. peter, are you happy with the

fed leaving rates unchanged? >> no, i'm not. the ten year bond rate and mortgages paying off and corporate borrowing tegs off of and this business of slowing down quantitative tightening will tend to soften the upward movement in the treasury rate, and i believe it's too low. my feel asking monetary policy right now is not tight enough and he's permitting inflationary expect taces to lock in at 3 or 4% and going to raise a federal funds rate to do that, that would be helpful and should continue quantitative tightening and we should be targeting the 10-year treasury rate above 5%. innation is too high and going to stay there. stuart: you want the 10 year treasury to be above 5% and you want that? >> absolutely. right now my feel asking the sustainable rate of inflation is

higher than it was before covid. more like 2.5 to 3% more akin to the volcker area and look 40 years prior to the great financial crisis and average rate of inflation was 4% and there's nor inflationary pressures endemic in the economy and then focus on getting good growth and grow at higher interest rates and know certainty about real interest rates and we go forward in a situation and people can plan appropriately.ly. stuart: respond to this, peter. donald trump ripping into bidenomics at a rally in michigan. roll tape. >> baby food up 30%, eggs up 50%. when i left it was 2.6% and no

inflation and everything was so good and bidenomics is flat out economic and warfare and welfare are the american middle class it's a dis-disaster. stuart: economic warfare, what do you think of that, peter? >> he's running for president and inclined to exaggeration just as joe biden is but the hard reality is they both had about 2.5 growth before taking out the covid period. donald trump didn't have a lot of inflation and joe biden has got lots of inflation and he's spent a great deal of money and done it in a way that takes care of his constituents and unions and the woke priorities and so forth. if you're part of the system, you're benefiting and most -- the thing is that the economy can't afford this so we pay for it with more inflation. the average guy pays for it and average guy and average gal goes to the super market and she's not getting a bigger at 40% and

bigger pay increase and paying 25% more for chicken and going for the pay increase over the time he's been president. she's worse off. inflation is a tax and joe biden gave us inflation donald trump did not. stuart: that was rather clever. nice end i've got to say. thank you, peter. brian brenberg is with me. do you agree with peter, is bidenomics economic warfare? >> my tax are going up and appliances are going away, my car is being made illegal, and my tax money is being sent to pay the student debts of lawyers and doctors. that feels like i'm under siege. warfare? i don't know but kind of feels like it. stuart: that's very good. >> all true; right? stuart: you're right but i like the way you put it. your analogies are very good. thank you, brian. administration giving milwaukee, milwaukee more than $1 billion. how fortunate that milwaukee,

wisconsin, wisconsin actually is a swing state. ashley, is this a campaign strategy perhaps? ashley: i think you're onto something, mr. varney. the money comes from administration's american rescue plan and infrastructure investment and jobs act and inflation reduction act. everything from solar panels near the airport and remover of lead paint in pipes to a new crime lab and emergency management center and why the wind fall for milwaukee. as you point out, the city carries special weight both as democratic stronghold in the battleground state also as the host of national convention this summer and biden in a virtual dead heat with the state of trump and the biden campaign trying to highlight how cities like milwaukee being it. ed through federal help. republicans meantime are portraying democrats and the biden administration is essentially just throwing money

away trying to buy votes while to peter's point making inflation worse. stu. stuart: that was pretty good. 11:47. show me the dow 30 why not. look at that. pre-ponderous of buyers and lots of green on the screen and dow is up 168 points. it's now back above 38,000. university of michigan criticized for letting a transgender woman compete in the water polo championship. that team now being accused of having unfair advantage. riley gains takes that on next. ♪ you were always so dedicated... ♪ we worked hard to build up the shop, save for college and our retirement. but we got there, thanks to our advisor and vanguard.

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stuart: women's water polo club team under fire at university of michigan and prepare to compete in national championship withs 21-year-old transgender athlete on their roster. riley gains joining me now. get this straight, a 31-year-old biological man is going to play against women in water polo. what do you think to that? >> gosh, i have so many questions, stuart.

one, this is a 31-year-old. i don't care if it's a female, 31 years old is ridiculous, and this is a male. playing against the women. this headline right here is a telltale sign of where we are as a nation, especially where it stands -- where academia stands today. stuart: what do you do about it? this person competes. i presume this person is pretty good to get on the team and this person may help that team win hawaii do you do about that? does the opposing team walk off and say we're not competing or going to do this. nobody plays or swims or wins. >> this is called cheating. what did we call lance armstrong when he took performance enhancing drugs and this is no different. this is a male with performance enhancement that being tesky toast roan and what the -- tesky testosterone and girls say we're not competing against this.

we don't want to compete for second place. but ultimately what the solution should be is implementing title nine in its original intent. men compete with men, girls compete with girls. it's that simple. stuart: they want to make changes to title nine and take away the simplicity of women play women and men play men. they're trying to take it away. >> they have taken it away. that is something that this administration that's in the white house right now has actively been working on since june of 2022. they're new rewrite in the past few weeks abolishes title 9. title nine in original implementation is only 37 words and one word being activity, which gave title nine what it was most voteable for and equal opportunity in sports be now this administration has changed this 37 word policy and created a 1,577 page proposal with a lot of fluff and ultimately equated

sex with gender identity and there's no more sex-based productions on educational program that receives federal funding. stuart: i want to get back real fast to the girls shot putters that walked off when competing against a male woman's sports. these swimmers in water polo walk away and to the compete with a biological male in women sports. nobody wins like that, do they? all the youngsters train and practice hard and get to play. >> yeah, these girls might not get to play but they're helping girls in the future. there's brave 13, 14-year-old girls in and they were the adults in the room and protecting them and sharing safety and opportunities and prior ideas and they took matters into their own hands. this is about fighting for the

greater good. stuart: it's about fairness and riley gains you're leading the charge for that . we appreciate it. come back and see us real soon. riley gains, everyone. >> thanks, stuart. stuart: it's that time, the trivia question, this is intriguing to say the least. which letter in the 7/eleven logo is lower case. l-e-v-n? we're thinking hard about this one. we'll get the answer when we come back.inical w .. ection. i think it's a great product. it's going to help a lot of patients.

stuart: before the break we asked an important and interesting question, which letter in the 7-11 logo is lowercase, everyone is playing on this and you are first. ashley: i will go with number one, l. stuart: lahren? lauren: i second that. l. >> it has to be the because there is no difference tween uppercase v. i'm right. stuart: i have to confess i cheated. i learned how to look it up on my phone and the answer is the letter and. know it's no it's not. it is the.