mothers friendship day it was used to promote reconciliation between former union and confederate soldiers after the civil war it goes all the way back to 1940 was official a quick look at the mean stocks, earlier the morning gamestop went up after a rural ring kitty on reddit the stock went straight up, 20 minutes ago another roaring kitty video was posted in the stock is still straight up, look a gamestop look at all the mean stocks there up on reddit, inexplicable to me. >> the hedge funds is stop shorting us were unstoppable and unbreakable. stuart: you think roaring kitty is sending a message. >> the videos and pictures, yes. >> "coast to coast" starts now.

>> happening right now stocks kicking off the week looking for direction as wall street awaits a new b batch of inflation a cle when rate cuts could be coming, the top team of market gurus here to dig through it, trump on trial the prosecution star witness michael cohen is on the stand, cohen's testimony about the former boston current nemesis proved credible to move the needle with the jury were to take you live in the courthouse for the very latest in real estate reeling, mortgage rates over 7% scarce home listing and rephrasing prices the housing market is in mayhem, when kalman joins me to explain what is going on. hello everybody i am cheryl casone in for neil and you are watching cavuto "coast to coast". ♪ right now markets are mixed as investors are looking to the

april inflation data coming out this week, we are producer price is coming out tomorrow morning with the consumer price is coming out on wednesday you could see the dow has retrenched and down by two and half points the s&p and nasdaq are still hanging on to break it down from the bullseye american ingenuity fund adam johnson capitalist hedge fund manager jonathan hoenig, it's great to see both of you it's really about the date of this week and were to get ppi tomorrow, cpi and wednesday in the hot reports video and the drivers will come down from the previous month, i would like to put out there i think inflation would be a rearview mirror story in stock so close to new all-time highs and it's around 3.4 i know that's above the fed target but it's come down a long way in the

average various four measures of inflation consumer prices that is the one that we talk about, four measures and if you average all four of the measures together you come to 2.8 both getting close to the fed's target of two in autocare where we are remove it in the right direction. >> looking at the overall market is data dependent i sound like tehran powell but it is the truth but if it's about the date of this could all turn, the dow is looking to be up for nine days in a row, that's what are the best if not the best winning streak that we've had so far in 2024. >> stocks are strong a majority above the moving averages but what you see is a change of leadership apple, adobe, tesla those are the leaders in their down and using value stocks and international stocks in ve you the etf that owns world stocks as you ask a new 52 week high it's all about inflation the

data were venturing quite a bit and it would be transient, stated the pundit and the inflation runs higher than expected this to be the late 1970s of not the added inflation what about 10% working hear from walmart and home depot and that is a concern in retail sales this week are you going to take a closer look when they come on particular and i would take a look at them. consumption is two thirds of the u.s. economy and growth stocks around the ingenuity fund, i do on the company that's converting the warehouses into robotic warehouses that gets my attention, to your point you look at a company like walmart as an indicator as an economy people have money and their

spending money and asking for gdp which means no recession good for earnings which is one of the lessons of the past several weeks. >> we got a pivot back to the mean stocks stuart was showing her before he handed it off to us who thought they we're going to wake up on a monday morning seeing the roaring kitty was back in action. >> apparently he is, what do you think the cartoons and videos mean from him in particular looking gamestop that is the story. >> for all of the reasons to evaluate purchasing a stock a tweet from someone named the roaring kitty is probably not top of my list if you want a lotto ticket there's plenty of ways to play the lottery but the real money is not made under one day move is made in taking a position about that move over a period of time weeks or months, day trading has never brought anyone any success is trying to play for the long-term moves, that's why disinflation data is so important the data might be coming down by everyday

americans are seen tapped out, although pandemic savings is gone and the average is paying $13000 more for the same baskets of good and services a few years ago, how much money do they have to play mean stocks. >> i'm getting take the other side of the trade in all take this to adam my thinking so interesting the reddit rebels came through, this is 2020, 2021 and the big shorts squeeze will never forget what happened involving capital and how they came to rescue, this group is once again looking at the markets and saying i need to find a play and that is a mean stock. >> i completely agree with jonathan time on the market not timing the market, point number two what i read into the fact that suddenly these guys are back, the risk off pull back in

april it's back to risk on because earnings are strong were getting through it and i think it's starting to go back down again were getting evidence tuesday and wednesday there are folks called roaring kitty and all they read into that in their comfortable after several weeks. >> thank you so much. we want to take it to manhattan where the hush money trial is reaching a pivotal moment from testimony from the prosecution star witness former trump lawyer michael cohen, eric shawn is the supreme court with the latest. what are you hearing. >> remember the wendy's commercial where is the beef,

the jury has not heard it yet but they might hear it later on this afternoon from the mouth of michael cohen, he has been testifying and trial all morning, former president trump's lawyer and alleged fixer, he's been bringing the jury inside of trump's office in detailed in the conversation that he had when they heard about the claims of trump's alleged affairs cohen spent a decade protecting trump, he said he would like, bully and threaten people as trump's lawyer said his fears are: trump's fixer, he would do anything the boss wanted to keep them happy, collated a fantastic experience that left him feeling on top of the world. cohen described always in and out of trump's office down the hall and trump tower prosecutors trying to show trump was on top of everything that was going on in the payments to stormy daniels would not have happened without the boss is okay, cohen testified when playboy model karen mcdougall's ten month long

affair to the national enquirer trump told kerwin she is really beautiful and make sure it doesn't get released and reassured cohen, don't worry i'll take care of it for the second time the jury heard an audio of trump income when pain mcdougall and that was ponied up by the tabloid for her story and he hasn't really started jolene into the stormy daniel payments completely we expect more of that in the next hour and sitting two rows per horn the father, i've never heard anything more rehearsed, cohen has been very polite and solid on the stand in his demeanor and very appropriate methodical and professional and not combated to angry, michael cohen of the public has been used in the past and when the defense gets a hold of him during cross examination that could come later today or at least sometime tomorrow.

more to come, back to you. >> being face-to-face with a former boss cannot be a comfortable position to be in for michael cohen right now. thank you for the life report from the courthouse must begin federal prosecutor, let's talk about the 34 alleged felonies by donald trump, 19 witness testified now it's michael cohen's turn, alvin bragg, has he at any point so far given us any proof that the allegations against donald trump are indeed fact. >> there has been no evidence of criminality and that's what everybody has been saying and that is the reality the prosecution needs to prove beyond a reasonable doubt that donald trump falsified business entries by claiming payments to michael cohen we're not in fact legal offenses, that's a very minimum they need to prove, even michael cohen's testimony to accept any astro i don't see how he is able to speak to that, the

prosecution needs to interpret accounting expert to say it's an improper classification, beyond that all the testimony highly irrelevant this is a catastrophe for alvin bragg. >> argued to the credibility and a moment i want a pivot back to what we learned today about the tape recordings, michael cohen said inside for a long time you tape recordings of conversations of him and donald trump, it's my understanding the admissibility of those recordings that's going to be the big question for the judge, where we out with that right now we heard snippets today. >> the judge has allowed some of that to come in, the bigger question michael cohen was his attorney at the time why was he recording his client speaks to his own state of mind during the conversations. even bigger than that, the conversation that we heard seem to suggest michael cohen is the one calling the shots, making the deals and telling donald trump what is going on handling things as he seems to do in his position which counters were

cohen had said in the past that trump was directing him to violate the law, cohen was the attorney the licensed attorney at the time but the recordings don't move the needle for the prosecution anyway they show michael cohen to be more slimy and weird he know him to be. cheryl: what's interesting about michael cohen on friday judge mershon told prosecutors to tell michael cohen to stop talking about the case, the tiktok videos where he's wearing a t-shirt and using foul language, i'm surprised it took the judge that long when you already put a gag order on the former president of the united states and fined him 10000 and threaten him with jail you are finally telling the star witness to cut it out and stop speaking, that surprised me as well, little bias. >> it wasn't even a gag order was a suggestion that michael cohen stop doing that was a little too late i don't understand the purpose of judge

merchan giving advice to the prosecutors he could issued a gag order that apply to all the parties and witnesses but he failed to do so one of the big issues with the gag order that a lot of us have been speaking about for a while now, it's really a joke. >> a lot of allegations about alvin bragg the new york city da manhattan da who ran to be clear for office from the fact he was going to go after the former president as letitia james attorney general. at the same time they declined to hear this case and why other jurisdictions and why that matters now. >> is significant that it was not by the fec and biden d.o.j. they did not bring this case in the manhattan das did not want to take this forward because there is a significant problem with proving it up, alvin bragg went out on a limb he took it forward and he said he did not think this should be the first case to go in the trump cases

probably because the disaster and everything and follow part in the other prosecution here he is. it's been quite a disaster for him and shows why none of the other offices wanted to take this forward because they can't prove it up. >> this is the only one were to see before the election. thank you very much for the perspective. >> president biden facing a backlash to withhold military aid for israel to take action rafah. we're going to take a closer look after the break. ♪ investment opportunities

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from israel to limit civilian casualties. were inactive conversations about the provision of high payload of weapons and the concerns of these weapons when they used in a dense and were discussing that with israel right now. >> uses the u.s. wants israel to get out of gaza and develop a plan for what governs gaza after the war he has threatened to withhold bombs and artillery shells from israel if it invades walk are treated rafah who post some shipments and they fear israel would drop on rafah, republicans a merganser criticized the decision and they maintain their bending to the extremist elements in his party. >> israel has no choice but to destroy rafah and i always believe biden has unfortunately part of the pro-hamas wing of his party in all their worried

about is winning a presidential election. >> the washington post reports the administration is working to scrap a major invasion of rafah to offer the sensitive to help them find hamas leaders in the group ten entitles democratic guzman adam smith is a top democrat on the house armed services committee pieces there's no evidence the u.s. is doing that and he also says that the administration and intelligence with israel since beginning of the war. cheryl: those back channels might be important now, rich edson live from washington, let's get reaction from volunteer idf soldier congressman ryan knauss, thank you for your service first off in protecting those that you love and serving the idea let's talk about the back channels. when you benjamin netanyahu coming in front of the israeli people into the world and saying

if we have to go it alone we will are the back channels more important now to make sure israel has a weapons that it needs to defend themselves. >> the back channels are always a part of it but i personally would not say that's more important i added a couple of things you had them in front of the world biden administration in front of the world that we're going to undercut your ability to conduct kinetic actions and what's in the urban environment the whole lot of it is an urban environment and what the undercut is the ability of israel to go about their and conduct negotiations with anybody with a strong hand to say give us back israeli hostages but sorry we no longer have the full backing of the united states that is the biggest undercut. >> these bombs were talking about this is what the biden administration targeted these are the large-scale bombs,

500-pound bombs can the israelis effectively move on rafah without the ammunition i've operated on the ground in places very specific and they drop 500 pounders, 2000 pounders and we have to going to make sure the enemy was eliminated and quite often they're not the point that i'm making they sound like really big numbers to people but they're not as big as you think when you're on the ground conducting operation israel needs these their delivery did away that makes precise weapons of the can hit the target in a very small area that they need to hit so they try to eliminate those in the gaza run in the palestinian authority and with the hospital bombing in israel

that dropped a bomb and islamic jihad rocket that hit a parking lot at a hospital not even the whole hospital but the whole world went up in arms, this is his and kind of situation that we see playing out here in the more than happy to do it. >> let's talk about the politics of this i brought this up yesterday morning on the network news program, bernie sanders and jewish man brought this up and he said president biden was being her politically because of his shift now in his tone when it comes to israel how big of a problem they think the president has her now. >> are making a specific political calculation more than a national security calculation and we think politically it's better that we undercut the ally and undercut the ability to negotiate instead of undercutting the democrat ability in the have a base of

palestinians and those that are supporting the terrorists that are a part of them in this conflict, there making it that specific clinical calculation. cheryl: do you think president biden may change his tune, and fittingly get it seems in the interviews that he is giving is trying to thread the needle saying obviously we don't want them to go into rafah but we support israel's right to defend themselves, it's almost like they're trying to have it both ways. >> you're not wrong and that willie try 100%, he will probably give one speech in one version in miami, florida and another version of another detroit, michigan and one hell they were doing everything we can to restrain israel and hold them back at another one he will say were doing everything we had israel's back the hallway the entire time nobody's been a stronger ally and you can look at interview after interview when they say one thing get another, that is theirs. cheryl: thank you for being with

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being priced to move. okay, so you think that we are finally seeing that shift because that was the complaint a year ago and even earlier this year is that sellers were not being realistic about their prospects. and when an open house, you know, goes from 20 visits down to two in a day, that tells the real estate agent it's time to maybe rethink the asking price. and that is inventory started out strong which is been a first we haven't seen new listings coming on at the rate that they did in 2024 that is starting to decelerate the open houses are as busy as before desirable homes are getting in the office as before and sometimes listings without getting an offering that gives buyers a chance. cheryl: you are right, good to

see you. we want to give you a quick programming note the fox business rundown podcast first episode is coming out on may 20 you can listen each monday and friday to get your business news fix fox business podcast.com, apple, spotify or wherever you download your favorite podcast, still ahead how will your taxes change based on who is elected in november we're going to have a live report after the break. ♪

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cheryl: president biden informer president trump laying out opposite tax plans, the white house vowing to in trump's 2017 tax cuts if reelected will the former president promising to keep them in place and more edward lawrence is at the white house with more details on the tax showdown, where the cisco. >> displays big into what happens with taxes when the truck tax cuts expire in such

expire in 2025 all-americans will see a tax increase if you are single making $75000 a year you will pay $1700 a year in taxes, the messaging from president biden he will keep the tax cuts expired in hopes congress passes more eventually for those making a $400,000 a year. >> will make it into the discussion and what's most important is the principal that the tax burden for people who are under $400,000 should not change and that's the most important piece. >> when the trump tax cuts expire almost all-americans will see taxes go up, the proposed fiscal year 2025 budget assumes increase revenue from the tax increases and increases domestic

spending republicans pushback that the academy cannot handle a tax increase for almost everyone when prices since january 2021 when president biden took office are up 19% energy cost of 13% brett is up 21% and at the rally former president trump said he would push for more tax cuts. >> we took in more income after the tax cut and it was massive everybody knows it because everybody was affected by it it created jobs but more obviously it was a great cat. >> former president trump says he will cut spending going forward was to see which plan works, raise taxes increase revenue or cut spending to increase and make the numbers work out. cheryl: thank you for laying that out for us, let's dig into the numbers, adam johnson former democratic and savannah

congressman patrick murphy joining me as well i want to start with you on this, democrats have been campaigning against the 2017 tax law for six years and president biden jumping on the train as well, how do you put the genie back in the bottle when they start to realize on the democratic side that inflation is high in economic circumstance of americans is not good in the polling does not telling us that in a lot of the taxes will go up if you keep us in office how do you fight that? >> i think you actually have to keep it in place that anyone that makes under $400,000 a year it won't change or go up $1.1 but those making over 400,000 you understand we are now $34 trillion in debt that means every single american including my two young kids $0,103,000 to the national debt and when

president trump accounting d7 going to get rid of the national debt within eight years and he increase to $7 trillion in his presidency 7 trillion in four years, we cannot afford tax cuts for billionaires, his plan $3.5 million tax break to each billionaire in america that is not the right policy for the american people. >> us not just as simple as that you have to dig into the proposal from president biden and there's another death tax because one was not enough let's have another one you want to tax and reliance capital gains in the high income earners but that's the only pie that everybody feels comfortable going after is the wealthier. >> they're the ones with the money why did you rob the bank because that's where the money is if you go to big cap and wealthy people that is where the money is i think there's a theme

to the conversation we don't have in this country a federal revenue problem with the federal spending problem taxes are high enough the federal government collects more than enough money but the problem it spends money it doesn't have a gives money away think about what we do with the migrants, just to new york city we effectively give away $300,000 per migrant in terms of what were giving them free housing, free food, free cell phones, 300k per person we don't have that money were taking care of non-americans instead of her own americans it's time we stop spending money and focus on what we do collect, let the tax cuts stay in place because hard-working americans deserve the money. you know what patrick murphy there's some irish blood and it never asked you that look at what's happening in ireland there are riots in the streets because of the immigration

problem in the getting free rent, checks healthcare the whole shebang wearing regular folks cannot afford to go to the grocery store or go to the doctor and you see the same issue happening in the united states. >> we need to be proactive the status quo is not doable when you look at this as a national security issue we have to crackdown on the border, we passed the second most conservative republican the company and savannah migration bill that would give us 1500 more agents on the border to make sure that we stop them from coming in the first place we can't be given charge of thousand dollars per illegal immigrant so i agree with adam at all think that's accurate that we can't do it but we can't continue to give tax breaks for the wealthiest 1% and this will be a contrast, you talk about

the country club down in florida for kitchen table and screen in the wealthiest 1% one person fighting for every family like my family and those across pennsylvania and the great country of ours. >> your corporate tax rate did lead to an economic boom and that did happen under president trump's tax policies there's a lot to chew on, thanks to both of you i appreciate it. we have about more coming up, ev demand is slowing donald trump is pouncing, the former president stepping up as attacks on the climate agenda and what he's saying he'll do in his second term after the break. ♪

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cheryl: jury selection beginning in the corruption trial senator bob menendez here he is earlier this morning fox news congressional correspondent chad pergram is outside the new york federal court with all the latest. >> afternoon 102 persons in this jury poll they're trying to whittle it down to 12 jurors and

six alternate we could get opening statement sometime today he is accused of accepting bribes and also working as a foreign agent on behalf of qatar and egypt. >> would actually affect on the mere engagement of these conversations and inquiries were to be in for some of those actions taken in pursuit of the fact-finding effort to inform what your legislative action should be can be turned into official acts in violation of the law and not within the protection of the because of the constitution. >> menendez is accused of writing ghost letters to help the new jersey businessman with qatar, prosecutors say he worked with another businessman to get the approval of egypt to import muslims from his company democrats hope menendez would resign in new jersey democrat

cory booker served as a character witness during the last child the senator he was also on the first day but not this time. >> america to follow the day today i'll wait for a verdict and senator menendez will have his chance to defend himself. >> have you talked about the trial. >> i'm not discuss the trial in depth. >> judge sidney stein warns counsel about playing games in court menendez was on trial seven years ago on unrelated charges that case ended in a hung jury menendez ran for reelection in 2018 and one. >> today is resurrection very and i want to thank god once again for allowing me to stand before you as i walked in and 11 weeks ago an innocent man. >> prosecutors a focus on menendez taking gifts included in mercedes-benz convertible.

his wife is also going to be on trial in a start in july and the overall trial should take about nine weeks. cheryl: before you go put your capitol hill back on for just a moment and explain what's going on with the faa reauthorization bill and passed the senate on friday but had to go to the house for the deadline at the house is not in session where are we out with that. >> the faa is authorized and there's four bills before the senate passed the overall faa authorization a five euro bill the house pastor band-aid bill to get them past this, what happened after the senate approved the overall bill the senate took the bill and i kept the faa on for a week. until this friday the faa is often raised and what has happened by this friday the house of representatives has to align with the senate in the faa is good for five years.

cheryl: thank you for clarifying that, i appreciate it. chad pergram live in new york, let's switch gears to energy news, donald trump is ramping up attacks on president biden's ev push. >> on day one i will terminate joe biden's insane electric vehicle mandate and there will be no ban on gas cars and gas trucks in the garden state, there will be no ban in the united states of america on gas you can buy electric if you want you can buy gas to can buy whatever you want. >> senior analyst and fox news contributor phil flynn is here in the top part about the back-and-forth on the push for ev's and a lot of environmental policies if we get another term of donald trump and the carmakers are going to have to rework their plans how does this play out in your mind. >> i don't think they want to

rework their plans for lost $130,000 per electronic vehicle and americans don't want them in the only reason that you know the u.s. automakers make electric cars is because joe biden wrote them checks and says this is the we were going will give you money and move in that direction and electric cars are not as efficient, people don't want them and a lot of people are not realistic see could have your electric car fantasy, president biden but reality is starting to set in and former president trump is hitting home were a lot of people feel. cheryl: you're right the push has not been as far as the consumer goes and except for a tesla they're not excited about it, that's a great point, moving over to oil and what's happening in the oil space as we see prices jump a little bit working to get inflation numbers in a couple of mornings from now, cpi

i was looking at the current amount of domestic production and despite oil company's completed about regulation, right now were pumping 13 million barrels per day on average in this country, that is not a bad number, correct. it could be better i've seen reports by experts that could be producing 2 - 4000000 barrels a day of oil more and you have to remember a lot of people say joe biden says it's not that bad record oil production, a lot of those investments were made a long time before joe biden got to office in u.s. oil and gas and innovative in the entire universe and they crack the shell environment. you've always got the answers, good to see you that is it for us, i will see you tomorrow, brian brenberg in "the big money show" taking you to the next hour. brian: i'm brian brenberg speech