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tv   Varney Company  FOX Business  May 15, 2024 11:00am-12:00pm EDT

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>> nothing is broken. we thought banks were going to break, you know, we thought commercial if realities was
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going to bring down some banks. everything's been managed so far. >> the economy last year was lose city, so they say bidenomics is working. if you've got a terrible product, don't slap your name on it. >> you can't break into a person's house and steel their -- steal their goods and then return it the next week. >> the conversation should be shifting as problematic as this may be in an election year from when do we lower interest rates to are we going to have to raise them further. >> the reality is dei invasion of campuses has been so divisive and so problematic. ♪ ♪ stuart: 1 success eastern time -- 1 11:00 eastern time, and we're playing dirty work, the rolling stones. we play a lot of stones. let's get if to the market. the rally holds. it's been on the board since the opening bell, and we're now up
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200 on the dow and 14 40 up on the -- 140 up on the nasdaq. favorable inflation news, 3.4% over the past 12 months. the market likes it. show me big tech. most of them are up. in fact, all of them except if amazon which is still down 1.5%. the yield on the 10-year, treasury, that's coming down. look at it now, 4.37%. now this. the president's team seems determined to ignore reality. they have circled the wagons to keep reality out and delusion in. this week the polls have been bad news. the times' poll showed trump beating the president in five of six so-called battleground with states. poll after poll shows trump winning on key issues, and biden's approval rating is all the way down to 38. that's lower than any other president in an election year except for jimmy carter, and he went on to lose in a landslide. that's reality. but the biden team is having one
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of it. at the white house, california reap jean-pierre said the president's low standing is the result of all the crises he walked into when he took office. the president himself told cn, in the polls were just plain wrong. that is defying reality. and there's this, biden again said inflation was raging at 99% when he took -- 9% when he took office. it was actually 1.4, but he repeated this factual error. why? did his aides not tell him his mistake? the did he not listen? did he forget, or is he just repeating it over and over in the hope that eventually some voters will believe it? at the heart of the problem is the president's declining cognitive ability. he's forgetful, he doesn't have the intellectual energy to take reporters' questions, so he has to stay with the basement strategy which gives the impression that he's out of touch. he doesn't face a reality, he denies it. and that's why he's in such a political mess. thursday hour of "varney "starts now.
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♪ ♪ stuart: mollie hemingway joining me this morning. all right, mollirk e, how long can the president keep up this denial of reality? >> you know, i think something that was interesting that happened today also though was that he agreed to do a debate against donald trump. that's probably an indication that he understands that his campaign is in serious trouble. he's not wrong that polls can be wrong, but where he's wrong is that polls tend to systematically undercount republican support. so as bad as things seem for him, they could be even worse, and i think that's why he's at least saying he will agree to a debate. whether he actually does it, put all these restrictions, no audience, has to be with a democrat-friendly media outlet, so, you know, we'll see if it actually a happens, but he might be a little scared. stuart: were you surprised that biden would do this, take part in the debate? i mean, he's taking a big risk
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here. >> it's a monumental risk. he, of course, gets usually, like other democrats, they get a lot of help from the moderator who, you know, will almost certainly ask gentle questions and handle it in a way that a makes it work well for him. but being in front of a live national audience for that period of time, i mean, he could try to do what he did with the state of the union which polled very horribly. you might remember how frenetic he was and how he seemed a bit out of his mind -- [laughter] stuart: that's the expression, he was amped up on whatever. he was amped up. >> yeah. we'll see. stuart: it depends if on the format of the debate, doesn't it? it's going to be a studio with, probably not a big audience. they're going to negotiate the details of how their going to play this -- they're going to play this, and i wonder if one of them might use with it as an excuse not to take part. >> well, we could see that, but we also do have a pop with debates and how they're done in the united states right now -- a problem. they're so choreographed and
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there's so much help given by the moderators that i think a lot of americans would like to see what these two candidates have to say. maybe they could ask each other questions or have a truly neutral moderator type like a joe rogan or someone like that just to freshen it up. stuart: yuck with that. president biden won the democratic primary in maryland yesterday, but 10% of the democrats voted uncommitted. they wrote uncommitted on the ballot. how pig of a problem is this fos for biden come november? >> you've seen quite a few protest votes for both trump and biden, but i'm not sure how much it matters this hate because everyone knows trump and biden are the nominees, so the protest votes are worth even less than they normally are. what is interesting in maryland is that the democrat who won for the senate nomination is not the person who can self-fund can means democrats are going to have to pour a lot of money into that race against larry hogan, the popular former mayor of -- governor of maryland, and that
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the means how much money can go for democrats in pennsylvania, arizona, other places as well. stuart: nikki haley got almost 20% of the vote in the republican primary in maryland with. how does trump win over her voters? >> yeah. and so i think he'll be thinking about this as he picks a vice presidential candidate. he has a lot of support from republicans, but there are some people that he might need to reach out to with a vice presidential candidate. if probably not a nikki haley type because she has or her stronghold there, but she's not so -- she's not going to attract a ton of other votes probably. stuart: the debate is the bug news of the day, isn't it? all the speculation surrounding it. i find it fascinating. mollie, thanks for joining us. >> thank you, stu. stuart: sure thing. check that market. not a bad thing to check. we're up 200 on the dow and up 140 on the nasdaq. the s&p is up .72%. modest rally. michael lee with me this morning. what do you make of the latest cpi numbers, 3.4% inflation in
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the last year at the consumer level? what do you make of it? >> well, stuart, the miss to the downside is very timely for the markets and for the fed, and alongside that the big miss in retail sales. it's what i think is giving the oomph behind the market today in that retail sales has been a leading indicator of cpi by about three months. so it's looking like cpi should tack down from here -- track down from here if those trends hold. stuart: so you think -- i'm going to call this a modest rally at the moment, and and you think it continues. >> yeah, well, you know, stuart, yesterday we closed at an all-time high on the nasdaq, and so ideally we're going to close at another all-time high here. and if the s&p holds up today, that's nine days in a row. that's only happened a few other times in history. one of them didn't lead to -- one of them was a peak mt. markets and two-them -- two of them led to much higher markets
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later, but we are in a bull market. okay in the market is up substantially since the october lows. i don't think we're stopping anytime soon because, think about it, the next move from the fed is likely a rate cut. okay? you have earnings come in above with estimates, and estimates for later in the year are increasing. the fed is also likely to stop quantitative tightening and move to quantitative easing, so were growing earnings, you know, a somewhat improving economy or an and economy that's notes inly falling off the cliff and -- not necessarily falling off the cliff and improve liquidity. these are the things we like to look for as, mike lee, the super bowl. stuart: mike lee, super bowl, thanks for joining us this morning. see you again soon. >> thanks, stuart. stuart: lauren's looking, oh, yeah, you've got to have a look at the meme stocks. most of them are down today sharply. lauren: what happened? there were several posts this morning from their leader, the leader of this meme movement,
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roaring kitty, real name keith gill, and they're still down. the "wall street journal" compares gill to having a warren buff with fete-like influence on wall street -- buffett like. perhaps he's parking lot of a select group of elite investors. the legendary warren buffett appears to have a similar influence. that was true for two days. that was true for monday and tuesday. gill posted for the first time in three years on monday. gamestop shares were with up 180% monday and tuesday combined. amc up 135. they were stars of meme mania back three years ago. but in the past three years, i think you could make the argument that roaring account kitty's followers have gotten a lot more sophisticated and moved on. >> but you've got this group of, or let's say, more sophisticated retail traders who don't care about the names. they move from name to name to
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name wherever they see a catalyst, wherever they see high short interests, they're going to pounce. lauren: sunpower, trump media, other names with big short interests. go ahead. stuart: sorry. it's a casino. gambling chips, that's all they are. fundamentals, there's nothing there. lauren: as of right now, the difference between 2021 and now is this meme mania lasted two days unless something changes for tomorrow. stuart: and roaring kitty isn't a bit like warren buffett. lauren: i agree. stuart: coming up, hunter biden's federal gun trial begins next month if after the judge refused to delay it. how's this all going to play out? we'll ask former florida attorney general pam bondi. president biden moving forward with planses to send a billion dollars 'of weapons and ammo aid to israel. is this a shift in president biden's attitude or policy towards israel? if victor davis hanson shares his insights after this. ♪
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taking pride that everyday millions say “i use splenda.” and now sweeten drinks wherever you are with splenda zero-calorie liquid sweeteners. try all three. available in the baking aisle. stuart: it's happening now, nyu is holding its graduation ceremony despite if calls for protests if disruptions. c.b. cotton is at the ceremony. it's at yankee stadium. what have you seen so far, c.b.? >> reporter: hi, stu. well, some students may choose to end four years of hard work in protest. you know, there's always tight security here at yankee stadium, but right now just behind me people are being screened to make sure no one brings in flags, large bags or banners. but, stu, we're watching closely to see whether any students write anti-israel messages on their caps or secure palestinian flags to their gowns. if faculty, some nyu faculty,
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took to social media to urge students tt on x
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they wrote in part, quote, no graduation distractions while nyu funds if general side. nyu, is hosting graduation celebrations while complicit in the ongoing murder and erasure of the palestinian people, end quote. the faculty's call to action comes after the nypd was called in to nyu's campus twice this week. students, pro-palestinian encampments, the first time more than 100 people were arrested, but nyu's president said fewer than half were students. during today's commencement, nyu
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student protesters may turn to tactics used by columbia university students during a sunday graduation ceremony. one student walked across the stage wearing zip tied hand cups. once she was handed her diploma, she turned to the audience and ripped it to pieces. others carried the palestinian flag, ask one appeared to have the name of a hamas leader written on her cap. comedian and israel supporter jerry e seinfeld was met with this. [no audio] >> reporter: so he was met with a series of boos before, before he delivered his commencement address. other schools like george washington university and ucla have seen intense clashes between protesters and the police. george washington university as has added security measures for its upcoming commencement ceremony. now if, stu, columbia
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university, the epicenter of student protest, was supposed to have its main commencement ceremony today. it was canceled, and instead the university opted to have several smaller ceremonies around the city. columbia university president wrote a he can think letter to the student body to say that canceling the main ceremony was one of the toughest calls in a year of many tough the calls. stu. stuart: c.w., thanks very much, ine deed. now this, the board of trustees at the university of north carolina-chapel hill voted to slash its diversity, equity and inclusion, d everything i, funding. the $2.3 million saved will be real located to the campus police. one of the school's board members joined me moments ago and said this. roll tape. >> the board showed that the it believes more in unity than divisiveness and that we strongly support our law enforcement. and our actions demonstrate that we also want to support a meritocracy and prevent this socialist, marxist environment
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of hateful outcomes. we believe in equal opportunity. stuart: that's telling it. victor davis hanson joins me now. are schools finally starting to reject these far-left ideas like dei? is the pendulum swinging the right way? >> gradually, gradually. i think a lot of universities are going to bring back the s.a.t. in the fall. there's been an end epidemic of dei czars that are plagiarized. we saw the sad testimony of those college presidents. the disruption on campus has a subtext text to it. it's not just we have a lot of foreign students, but we have a lot of students by the universities' prior standards of just three or four years ago they would not have been admitted, and they've been admitted without compare etive rankings of gpas, can they're very unhappy. they have to either add new courses or cut down the workload or, as in if yale's case, give 80% of the people as. wrong the universitieses think it works -- i don't think the universities think it worked.
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i think their reputations have been harmed, and they're scrambling before they start to see a bigger negative full aoff in the annual giving -- falloff. stuart: do you ever think we'll see the day where with liberal arts students are no longer socialist en masse? [laughter] >> that's a stretch. and if speaking as a liberal arts student and a professor of classical languages, i don't know. but i do think what can't go on won't go on. and you can't can ask these students to accumulate a quarter million dollars in debt with no job opportunities and then they're not even poorly, they're not even aa quainted with literature or an littics or reasoning anymore, critical thinking. it's mostly indock try anyization. so when they leave these universities, sometimes half of them don't get degrees. if employers, institutions, bureaucracies, they're pretty disappointed in the product that comeses out of these places. stuart: it'll stop when parents start to realize they're chucking their money away, i
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think. i'm going to change the subject. the administration is moving forward with a plan to send a billion dollars' worth of weapons and ammo to israel. is this a shift in biden's policy towards israel? >> no. he assumes we have no collective memory, stuart. so one week he's going to resume aid e, and then he'll cut it and appeal to the the michigan arab a-american constituencies. and if when they get complacent, he'll go back to israel, and he thinks we don't have any memory of what he's doing. it's part of also a larger strategy in lieu of a real agenda that people like or felt worked for them of pandering to particular groups. autoworkers this week with the ev tariffs, drain the strategic petroleum reserve, tell ukrainians not to hit russian oil facilities, cancel student loans, jawbone the fed to lower the rates before the election. the whole theory is that he can't appeal to us as a people, so he targets particular groups
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in particular states and assumes that we don't know what he's doing. that and waging lawfare against donald trump, outsourcing his campaign to the media, all of that is in lieu of a strategy that counts on personal appearances, campaign and competence in what he's achieved the last three years of which he doesn't have any. stuart: i sometimes feel that things are falling apart, and you've got a new book out, and the entitle is "the end of everything." is my premise, things are falling apart, part of the book? >> part of it. it's the try to warn people that looking at historical examples from the past that naivete, reliance on past glory, that's no substitute for military deterrence, economic strength and a realization that there's people outside your walls that want to erase you and destroy you. there were a lot of contemporary parallels i found in the epilogue of that book. stuart: the book is out, and it's called "the end of everything: how wars descend
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into annihilation." that's an interesting title, victor, and i shall read it. come back soon, victor davis hanson. thank you, sir. >> thank you. stuart: i think it's time we took a look at the biggest winners of the dow 30. who are the biggest winners? there's 30 stocks in the dow, big winners, salesforce, home depot, amgen, merck and united health. now show me treasury yields, specifically the 2-year treasury. way below the 5% level which it had approached not too long ago. that downside move in that treasury yield is very good news for stock investors. we'll also get back to this, president biden says he has accepted an invitation to debateup donald trump. trump responded immediately and says, yep, he's going to be there june 27th. now rfk jr. is weighing in. he says, quote, trump and biden are colluding to lock america into a matchup that 70 said they don't want -- 70% don't want. went on to say they're trying to
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exclude him, rfk jr., because they are afraid he will win. okay. that's the latest on the debate. breaking news today. coming up, a new report says chinese espionage group used mall wear to spy on cargo shipping around the world. we'll bring you the late owens that. the prosecution's star witness, michael cohen, took the stand in trump's criminal trial. what did former florida attorney general pam bondi make of the testimony? is cohen a credible witness? we'll take that on next. ♪ ♪ (♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪
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stuart: okay. the market, the rally holds. the dow's up 260 now. that is two-thirds of 1. nasdaq's up nearly 1, and the s&p is up .if 8%. solid gains there. lauren's looking at the movers. please tell me about nvidia. lauren: it's surging. it's up 3%. hay report one week if today. their latest quarterly numbers. revenue is expected to increase by 2400% and and earnings by 400%. maybe they'll a beat them. also look at a qualcomm, they're on pace to close at a record high. stuart: what about
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microstrategy? lauren: this is a bellwether for cryptocurrent i -- cryptocurrency. it's up over 7%. stuart: walgreens. lauren: they're launching their own version of narcan which is a popular overdose drug. it costs $35 for a 2-pack, that's 20% less than narcan can, but the stock is down despite that news. stuart: lauren, thanks very much, indeed. now this, donald trump's new york trial is on its scheduled break today after trump's defense attorneys grilled his ex-lawyer, michael cohen. ashley, come on in, please. what did cohen say about his late night tiktok streaming? if. [laughter] ashley: there he is on the other side of the screen. cohen testified that he records a tiktok live program for overnight if every night if basically to build an audience, he says, create a community and vent is. why? if well, he says he's having a difficult time sleeping. defense attorney todd blanche grilled cohen claiming that
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trump's former attorney has made if a career out of bashing and insulting the former president. blanche says that can cohen, indeed, has built a lucrative building on the back of trump writing books criticizing his former employer, even wearing t-shirts depicting trump in jail. cohen was also asked if he referred to trump as, quote, a boarish cartoon misogynyst and a cheetoh-dusted cartoon villain do which cohen replies, yeah, that sounds like something if i would say. cohen is the the prosecution's star witness and trump's defense team obviously hoping to shatter his credibility. the trial resumes tomorrow, but there'll also be no session on friday. never a dull moment. [laughter] stuart: thanks, ash. former florida attorney general pam bondi joins me now. welcome back, ms. bondi. what's your reading of the trump trial and michael cohen's testimony? >> well, you have to remember michael cohen is a convicted felon, a convicted liar, and he
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gave discredited testimony this in court, and the jurors see that. they're going to be told, stuart, in a jury instruction -- if it makes it that far -- that if you believe anything that a witness said isn't true, you can disregard their entire testimony. that's a standard jury instruction -- fourth. stuart: hold on a second -- >> so i think so far he's fail z miserably. stuart: you're saying if he makes it that far. you mean the trial could end suddenly by -- >> well, the trial -- yes. stuart: -- could end it? >> the judge could edge it by a directed verdict. -- end it. that's what the defense attorneys will be seeking. and, you know, stuart, i believe they've committed reversible error every single step of this trial beginning with jury selection. as a career prosecutor, they've let in so much evidence that should not have been admitted into this trial, but also they did not prove their case. not one single witness, not even michael cohen, could -- who was, by the way, donald trump's
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lawyer, violated attorney-client privilege, could admit if that president trump did anything wrong. no one has in this trial so far. it should be a direct canned verdict. however, the way this judge has been ruling the entire trial, i don't know if he'll do that. it should be a directed verdict, it should never, ever get to a jury, stuart. stuart: do you think trump should testify himself? >> absolutely not. i know he wants to testify. he's made that very clear. but the state has not proven their case. i don't think with he should testify. i don't think they need to put on any witnesses. that's the argument if it makes it to a jury, i don't think it should again, but they haven't proven their case against him. no. he has the absolute right not to testify. i don't think he should, not even close. i know he wants to, so let's hope his lawyers convince him not to because he does not need to in this case. stuart: hunter biden's gun trial begins next month.
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the judge refused his lawyer's request to delay the trial. they claim hunter won't have enough time to prepare. how does the hunter gun trial play out? if? >> well, he wrote a memoir and, of course, if his book he admitted to -- so he's not a convicted felon, stuart, but you can't buy a gun if you're drug-addicted. and in his book, he admitted that he was doing crack almost daily at the time that he purchased a firearm. there are pictures of him, nude pictures of him holding a firearm shortly before and after he was doing drugs. so he lied on federal forms to purchase if a gun. and, you know, that's very serious, obviously. no one who's addicted to drugs should be purchasing a firearm. if so it's a pretty solid case, and in his own autobiography/biography, he admitted to the crime. i guess lawyers didn't read that book before he published it, but that should come into evidence. and it's a very, very solid case
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against him. stuart: got it. an excellent update on two big trials. we appreciate that, pam bondi. please, don't be a stranger. come back and see us again soon. thanks a lot. >> thank you. stuart: democrat congressman jamie raskin, i can't believe this, wants once again to investigate donald trump. ashley, what's it about this time? ash can't let it go. raskin of maryland wants an investigation into with nine oil executives who recently met with trump at mar rah a hag go resort if florida -- mar-a-lago. raskin has a written a letter to the oil executives saying that they should hand over any relevant information that mayer for town to a quid pro quo arrange -- pertain -- where trump gets campaign cash in, change for more favorable energy policies if he returns to the oval office. raskin's a accusations come off the back of a report in "the washington post" that suggested that trump made the pitch to big oil in exchange for a rollback
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of biden's climate agenda. raskin claims it's significant because it could raise ethical and campaign finance and heel issues, but others say, look, this meeting is standard practice for candidates, high profile candidates, looking for donations, and they point out that trump is not promising any new policies that he hasn't already enacted or pursued. so there you have it. raskin at it again. stuart: yeah. that would be drill, baby, drill, wouldn't with it? ashley: that's right. stuart: that's the policy. thank, ash. coming up, president biden says he won't let beijing unfatherly control the ev market. he's putting 00% tariffs -- 100 tariffs in place protecting the auto industry. we -- question, will that buy him some votes in michigan? artificial intelligence label ared as the new frontier of modern warfare. we got a report from the spent if gone on -- pentagon on where where america stands in the a.i. arms race. that's next.
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stuart: all right, kick this thing off with big tech, please. microsoft, top of the list, up 5 at 420. amazon, the only loser on that list, it's down $11-- 1.84. look at the 10-year treasury yield, please, it's coming town and that's good news for the market. 4.36 on the 10-year treasury. and now this, a new report says chinese-linked groups want to spy on cargo-shipping companies around the world. ashley, what's going on? ashley: have you ever heard of mustang panda? it sounds like a new line of electric vehicles, but it's actually an espionage group linked to china and accused of using malware over the past five months to gain remote access to computer systems belonging to cargo-shipping companies based in norway, greece and the
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netherlands most recently. the spy group, by the way, also suspected of carrying out espionage against governments and other organizations across asia and most recently europe. the hackers gain access using a row mote access -- remote access trojan type of malware that allows full access to a twice and then issue commands -- to a device. both british is and u.s. officials say that china's cyber tactics have actually changed in recent times from trying to steal intellectual property and foreign intelligence with to gaining access is to critical utilities and infrastructure to use as potential leverage in a crisis which is very december turning. stuart: yes, it is. thanks, ash. now this, google will include collude new artificial intelligence features for its search engine. all right, lauren -- lauren: everything. a.i. is running the future. i do not want it.
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starting this week you might see it, a.i. overview. it uses artificial intelligence, and it summarizes the google search results. that summary if will come up at the top of the search page, and then under it you'll get those traditional web links. some of those are sponsored by advertisers. that's the potential problem. google a.i. is cannibalizing, i can is can with a question mark, google search? not necessarily. jeffreys says it's the opposite, that a.i. will giving google an expanded -- give google an expanded role in research. they're predicting everything, they're determining everything, and heir going a step further. even if you type in flights to london, does that automatically mean that i want to go to london and they have to say, oh, your coz din lives there, maybe you want to have brunch with them. maybe i'm just googling flights to london because you asked me a question and i'm doing that for you? if i don't want that information. stuart: maybe.
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if i do a google search now, does a.i. help me along? have they introduced it yet? lauren: i don't think so. i think it starts this week. stuart: i'm going to try this. lauren: on google or microsoft bing? stuart: well, i already use bunk from microsoft. lauren: a.i.? stuart: not noticeably. [laughter] artificial intelligence is being called the new frontier of modern warfare. jennifer griffin at the pentagon for us. where does the u.s. stand in the a.i. arms race? >> reporter: well, it's interesting, stu. right now the u.s. is leading in terms of writing software and using a.i. on the battlefield. that's because the u.s. is still the leading software manufacturer in the world. but that competitive advantage could be lost if the does not lock in these gains and prevent russia and china from catching up9 we went to the second annual with a. i'll convention here in washington and saw demonstrations of how the modern battlefield is changing.
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>> the problem is it's either we run a.i. or our adversaries -- [inaudible] if our adversaries have a tradition of being not as a -- [inaudible] [inaudible conversations] and if on the battlefield, it is going to be us or them. we have to dominate and -- [inaudible] actually dominates which is what we did -- [inaudible] >> reporter: alex karp is the ceo and founder of palantir. his software is being used in ukraine and across the middle east. this simulation shows how a.i. helps find a nefarious cargo ship hiding in busy sea lanes, taking a fictional intelligence tip there from south korea, commercial satellite information, weather and past patterns of behavior of all these ships. a targetter can quickly locate
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the, enemy ship. >> when we think about -- in particular, we talk a lot about the scale. and analysts say it's going to be all about kale. you are not going to be able -- [inaudible] you are going to need machine learning to tell you how -- get the responses faster. at a pace. >> that you can have one person or one target -- [inaudible] >> reporter: former intelligence analyst shannon if clark says this targeting technology would have helped shorten the war in iraq and afghanistan. another defense tech manufacturer showed us software that can smooth if out supply chain bottlenecks, and palantir hamas chien learning software that shows the war fighter and a general in the field simultaneously on what looking like, basically, looking through gaming headsets what ammunition is available, which air platforms are available to talk out a target. right now the u.s. has the advantage, stu. the question is, can it keep it? stuart?
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stuart: good question, jennifer griffin. see you soon. show me the dow 30, please. we get a sense of the market. i get a sense there's a lot of buying going on. most of -- two-thirds of the dow 30 are in the green, and the dow itself is up 239 points. 39,800, that's where it's at. president biden announced a 100% tariff on chinese electric vehicles. he's facing some opposition from his own party though. we'll bring you the latest on that from washington in connection. ♪ -- next. good luck. ♪ if. ♪ ♪ ♪
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by abc on tuesday, september the 10th. so it's in place, june 27th, september 10th, both will be there. big story of the day. president biden has announced 100% you are tariffs on chinese electric vehicles. he says he won't allow beijing to up unfairly control the markets. diana fur. got roth joins me now. did biden do this to protect the domestic auto industry and the vote in michigan? >> well, stuart, i'm sure he did. but it's not enough. because china's selling cars that cost 11,a 500 in germany and putting 100% tariff on that is $23,000, and that's still -- that still undercuts, by a a lot, american cars. so we need to ban these chinese evs. we can't be putting 100% tariff or even a 200% tariff on these
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cars. they're dangerous for economic security, national security because they go around spying,if they can be disabled from remote. stuart: whatever happened to the free traders or? trump wants tariffs, biden one-ups him with even bigger tariffs. a few years ago everybody was free trade. now nobody is. >> well, a lot of people are free trade, but trade with china is not free. i mean, china subsidizes energy, subsidizes labor, it uses forced labor, has favored interest rates for its companies. the chinese communist party has a stake in every major company including byd, the chinese if car exporter. so it's not a level playing field, stuart. trade with china is not free. stuart: sit, does it make economic sense, apath from politics and diplomacy, does it make economic sense to really crack down on all kinds of stuff coming to us if china? >> well, it makes sense to crack down on certain things, that can
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be use withed for spying and telematics, and cars are included in those. if americans were upset about a spy gallon going -- balloon going overhead last summer, they would be even more upset about i chinese evs going around the roads sending back telematics. and then if you get a car loan to buy a chinese ev, all your information goes to the chinese communist party. however, if there's toys from china, for example, those do not pose, it say -- i would say, a national security threat. so just as the federal communications commission banned huawei because it was sending back information, they should also ban chinese evs. stuart: diana, it's been a long time since we saw you. don't be a stranger. con back and see us -- come back and see us soon. lawmakers in the house are looking to crack down on chinese biotech companies too. ashley? why? ashley: well,, as diana was just talking about, it's all about
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concerns over national security. lawmakers in the house are expected to consider a massive reordering of how u.s. manufacturing of pharmaceuticals are developed and made by advancing a contract ban on as many as five chinese research companies. u.s. biotechs and drug makers have been continually reliant on china for testing, for ingredients and in some cases manufacturing. the bipartisan biosecure act would, by 2032, end u.s. contracting with chinese firms and any others considered a threat to national security effectively locking them out of the market. there are those that say, look, this could hurt drug development and, ultimately, raise the pieces of drugs. stu. stuart: all right, ash, got it. now this, time for the wednesday trivia question, and it's a really good one. which baby girl name has been the most popular in the united states in the past 100 years?
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that's an important point, last 100 years. of jennifer, sara a, emily, mary? the answer when we return. ♪ if daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! .. who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪) wow... are you kidding me? you can do this. at truist, we believe the same is true for banking. power outages can be unpredictable, inconvenient, and disruptive to your life, posing a real threat to your family's comfort and safety.
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stuart: i like this question. which baby girl name has been most popular in the united states the last 500 years, the choice, jennifer, sarah, anthony, mary, all yours. ashley: i have to go with one of my daughters names which is emily, number 3. stuart: lahren? lauren: i was going with emily as well. stuart: i have no doubts about this. it is mary, guaranteed. thank you very much indeed. over the last one hundred years, one hundred 73 million baby girls were born in america and 3 million were named mary. a common name used. lauren: i don't know any marys now. stuart: in the past hundred years. the most popular girls, the
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most popular boy's name, can you do that? i'm told we can do that. don't look it up in advance. coast to coast starts now. neil: my wife's name is mary.

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