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tv   Varney Company  FOX Business  May 17, 2024 11:00am-12:00pm EDT

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>> this is a noted perjure who acknowledged various other times in other courts where he perjured himself. that's not a great witness. >> getting into the overbought territory and a pullback wouldn't be unwelcomed. >> once again they're covering up for joe biden. they do not want the american people to actually hear this audio. >> terrorists are coming over our border illegally on the folks on the terrorist watch list by the dozens, and americans are dying. something has to change. >> i think they understand the
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disaster that this trial has become. stuart: coming up a little bit in new york city and the song is tell me a lie. what's that all about? what is the producer trying to tell us here? lauren: oh, michael cohen. stuart: oh, could be. lauren: is he credible? stuart: 11:00 eastern time, friday, may 17th. on the market, a tiny bit of green. dow up 36 and nasdaq up 10. not that much movement. we've got the board that shows you big tech. show it -- yeah, there you go. we've got alphabet, amazon, apple up. microsoft, meta down slightly. 10-year treasury yield moving around the 440 level and now at 439. and now this: twice the president got the inflation rate
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wrong. twice he said inflation was raging at 9% when he first walked into the oval office. he was wrong, it was 1.4%. so his top economic adviser jared bernstein could have easily corrected the president's mistake and wouldn't do it. my colleague neil cavuto took him to the wood shed. this is must see tv. roll it. >> ya kept you just say, it got as high as 9%. you'd be accurate in saying that and we've now brought it down around the 3% area but better than it was. you haven't answered my question and i've asked it five times, five ways. >> president was making the point that the factors that caused inflation were in place when he took office. that's unequivocally true. >> but you're picking and choosing the data that supports your view of inflation. >> how am i cherry picking the data? i started this interview talking about people struggling with prices that are too high.
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i then told you a fact that apparently you're not getting, which is that wages are beating prices. >> if the president can't get his facts right on that, why am i going to believe anything he says about what's going on now? stuart: okay, well done, neil. hats off to you, lad. unfortunately presidential spin knows no bounds in an election year. when he's not blaming trump for everything that's gone wrong, he tries to take credit for things that go right. even when he doesn't have much to do with it. case in point, the stock market, when the dow hit 40,000 thursday, biden took credit. shouldn't be doing that. strong profits are the basis of the market rally. most investors are scared of biden's proposed tax and spend budget. they don't think it's good for the market. there's plenty of people on this program and elsewhere that give credit to a likely trump win in november. they think trump's got to lot to do with the rally. the president has gone hard left. when you see him cheering on the stock market and denying his role in 9% inflation, you know
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he's desperate. third hour of varney starts now. stuart: the gentleman on the right hand side of the screen is steve hilton. innation is obviously a top issue for voters so why does biden keep repeating a false inflation number? >> because he doesn't know anything about anything these days. he really doesn't understand the issues. all he knows is that exactly as you said, he's in a desperate position politically. looking at polls this week and massive lead for trump in the swing states and way beside the margin of error and looking at defeat and desperately scrambling and talking and not even speaking and call it word saying. he's saying words and doesn't really know what they mean. he's desperately trying to eke something out here because he knows that everything is going
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wrong for him. that he is the cause of these problems. he's the cause of the border problem, inflation problem, the crime problem. this is democrat policy in action, and they're going to be held accountable in the election and he knows it. stuart: steve, i was intrigued when you said there must be drug tests for the debates between trump and biden. are you worried about perform-enhancing drugs for bide someone literally. look at what we see when we observe the president. day in and day out and does these events and can barely speak, can't get his facts straight as we just saw. when he does interviews like with cnn, with erin burnett the other week, it was a complete disaster. dead eyes, hardly able to engage. when he can't get his way off stage, it's a complete husk of a person. everyone can see that with one exception, the state of the union. suddenly he's transformed to high energy figure for an hour
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or so. we've had reporting in the runup to the state of the union, he was resting for six days. other reports and you can put this in the category of gossip and rumor are that for those kinds of occasions, biden is injected with iv fluids and some other kind of performance enhancing treatments to get him up to par. that's gossip and rumor. we don't know. but there's a massive difference. we can see the massive difference between biden at state of the union and biden that we see day in and day out. what's causing that difference? the american people have a right to know that when there's a debate, choosing their next president, that the people on stage are the real people and not just fake versions pumped full of drugs. stuart: could have just been coffee. >> maybe. stuart: i'll move on.
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>> vice president harris was telling friends she may go back to california and run for governor if the election doesn't go her way. >> that is news to me. i would say that the vice president has been a great partner to this president. he is appreciative of all the work she's done. it is impressive what she's been able to do on these tours. stuart: steve, she goes for the california governorship now and steps aside for vice presidentship and brings in gavin newsom for the vice president and would work for everyone assuming californians want harry back. >> would work for everyone except the people of california. as my friend kevin kylie, one of our great congressional delegation put it, there's only one way conceivably they could
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make the government of california worse and that would be this move. if this is real and she's speculating about doing this after being defeated after the biden harris ticket is defeated, it's the best possible news for republicans. i believe a republican can win statewide in california next time in 2026 and if the democrats try and hoist on california a failed and rejected vice president that all but guarantees it as far as i'm concerned. this is great news for republicans if it's true. stuart: we'll take it. steve hilton, thank you for joining us. see you again soon. better check the markets. we've got some green but not much. dow up 20 and s&p up a tiny fraction and nasdaq down a couple of points. it's friday and that mean jonathan hoenig is here and with an exotic stock pick for us. you're looking at british
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american tobacco; really? >> yeah, it's british and it's american, i thought ovyou, stuart. stuart: i don't smoke. >> well, it's a value stock, and that's what's outperforming. market has been strong, but it's been value stocks that have been really leading the charge. banks, utilities, shippers, gold shooting up today and tobacco stocks and bti is the name and phillip morris, another big tobacco company and added a 52-week high this week and trend is the friend. growth stocks from 2007-2024 and value stocks take ago lead and bti paying a 9% dividend and attributed to $80 a share a couple years ago. stuart: you're a hedge fund manager. you don't consider the morality of investing in tobacco, you just think of profit and loss. is that it? >> some adults and 20% of global population and 11% of americans enjoy tobacco. it's a perfectly legal activity and if they want to engage in
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it, that's their choice and stocks are undervalued, stuart. i'm quoting a neil cavuto here, it's not the red or blue but about the green and bti and tobacco stocks in general are a good place to make money right now. stuart: okay. yesterday the dow briefly hit 40,000. does the rally continue from here? >> i think it can but look again what's leading the charge. it is not the m magnificent sev. none of the major technology stocks at 52-week highs today but alcoa is, bank of america is. this is very much like in the changing of the guard value market is what's working in the market and not big tech. stuart: the zyte guys, i like that word be i knew what it meant. jonathan hoenig, thank you very much. 11 democrats in the senate defied biden and decided to roll
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back sec guidance on cryptos. grady trimble is here with us and for the hour. who voted against the president? >> some of the more moderate democrats like john tester and mark kelly but the big one is chuck schumer, senate majority leader who you'd assume is in lock step with the president but not on this one. this bill they voted for would undo an sec guidance that markets digital assets for crypto like liabilities. republicans and some democrats say the wall street regulator overstepped its authority and limits crypto owners that would like to stow the digital assetss in traditional banks and president biden said he's going to veto it so they don't have the votes to override and could get struck down anyway by president biden. stuart: you made me understand that and that was pretty good. >> i had to read it over and over and over to do that myself. stuart: is crypto an asset or liability? that's what it cops down to. thank you, grady.
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the world's number one golfer, that's scotty chef herrera, that's his mug shot and was arrested before the start of the pga championship today. we have the details on his arrest and details coming up. kong managed came to new york short term orientation support the president during his criminal trial. how is the president holding up during all this pressure. two georgian nationals tried to break into -- and we're just now finding out about it when it happened two weeks ago. we'll find out about it after this. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices voya, well planned, well invested, well protected.
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inside every splenda product is a mission. to help people live happier healthier and longer lives by making it easier to cut out sugar. from our factory to our stevia farm, splenda's team of over 2000 individuals are dedicated to helping people live their best lives. 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: we're heading to the
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border now. griff jenkins is there for us with breaking news out of eagle pass. what do you got for us, griff? reporter: yeah, stu, breaking out of eagle pass, texas, where you remember we've covered the border crisis for a couple of years and fox just confirming moments ago that yesterday a border patrol agent came under assault in this area known as camodo, west of eagle pass and was being assaulted by a migrant and the agent was forced to shoot the migrant in the leg. now, the agent involved is okay, but both were treated for injuries. cbp just getting this statement to us saying this "two individuals were transported to a hospital, customs and border protections office of professional responsibility and the department of homeland security office of inspector general and fbi responded to the scene. additional information will be shared as it becomes available". meanwhile, the white house still won't talk, stu, about that attempted breach at quantico and
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tight lipped at pentagon as well. >> is the secretary confident in the safety and security of u.s. military basis in this country and around the world? >> he is. >> you were confirmed he was briefed on this incident? >> lucas, i can tell you he tracks many different things all around the world. i will -- i'm not going to get into specific things he's briefed on on a daily basis. >> what we know about that incident, two jo jordannen internationals tried to breach quantico and they refused to stop and no weapons found in the vehicle and a base spokesperson, stu, said the jordannens claim they were working for amazon subcontractor and amazon has not yet confirmed those details. stu. stuart: thank you, griff.
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why was this kept "for two week s? >> we don't know. they've been provided to ice and being removed from the united states and here illegally. the real question is what were they doing there and trying to get onto the base and when directed to a holding area to be further investigated, why did they try to go through the barriers? stuart: this is precisely the thing that worries everybody with everyone coming across the boarder and unvet or where they are. they might be terrorists. >> that's exact reigns leading light and just last year alone, over 160 known or suspected terrorists and people on the watch list and on top of that another 30 some though aliens from special best countries from the middle east and north africa and the like are coming and this is a large problem. it's not just migrants from central and south america. stuart: let me just suggest this, if there's a terror incident inside the united states and it's linked in any way to illegal migration across the southern border, president biden is toast. would you agree? >> it's a huge problem for sure. stuart: moving on.
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israel will deploy more troops to rafah. they're not heeding biden's warning. are we in a standoff with israel? >> they've held off going on full ground raid for rafah and going for specific tar and strikes and took out a hamas facility and training for work with the defense forces and being careful administer the work in rafah and 1.5 million refugees that have gone from the north. israel is being careful and targeted with what they're doing but at the same time they've got to extract hamas from the situation and there's apparently a potential deal in the works for ya ya, one of the lieders of hamas to be gotten if israel goes into rafah and there's some discussion and see if that goes as well. stuart: what do you mean leader gotten? killed? >> we know he's there and where he is, will they be allowed to go after him and get him and take him out, and we may have intelligence on where he is. that's potentially an offer. stuart: do you know if we know exactly where the leader is?
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>> i don't know. both us and israel have very good intelligence into rafah and it's not precise and if we do have intelligence, would we trade it and israel make the deal in exchange for not going to rafah and the question is what about the hundreds of hostages still remaining in gaza. stuart: it is a standoff but going on for some time. >> somewhat of a standoff. stuart: turning my attention to xi jinping and putin, they held a summit in china and reaffirmed their -- quoting now, "no limits partnership". they've met 40 times. that's not widely known. how far does their cooperation go? >> pretty extensive and think about what happened since we put sanctions on russia, 90% of microelectronics used in the war are coming from china and upped oil supplies by 25% and buying 30% more goods in trade and 200 billion plus in trade between china and russia and it's a very large developing partnership but doesn't stand alone. russia, china, iran and north korea. all countries very much opposing
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to the united states and our interests. stuart: what's the opinion of foreign leaders, rivals and enemies, what's their opinion of and yous what about our allies? their leaders, what's their opinion of us? >> unfortunately very similar. our allies don't trust us and adversaries aren't afraid of us. stuart: is it that bad? allies don't trust us? >> they don't know we're going to be there for them when the chips are down. that's a real problem. if they don't know we can stand by them, they'll look elsewhere and build their own capabilities. stuart: taiwan can't look any place else. >> they can't and do we know whether or not we'll defend taiwan. the president said three times that we'll send troops and then the podium says we'll send weapons like ukraine. stuart: you're the security guy and run a institute on sturt. is ewe yanis about a lose to the russians? >> i don't think so, but they're definitely not winning right now. if we want them to win, if that's our view, double down and put a lot more re-sewerses into the fight. these are resources being spent here in america. we're buying merri bowl weapons and using american weapons and
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sending them to ukraine. a lot of money being spent here in the united states, sturt. stuart: got it, jamil jaffer, thank you for joining us this morning. >> thank you. stuart: tell me more about xi jinping responding. >> it could get out of hand as china's economy is slowing and we here in the u.s. are gearing up for the election and china is worried if they retaliate too much, go too far, the u.s. could urge europe to join in on this crackdown on green energy proct products from china and china has the moral high grader argued and another researcher at government-affiliated think tank, during the war it harmed both sides and that's choo that's view going into this. no doubt they'll try to inflict some pain somehow and see how
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they respond. stuart: what form will the pain take. >> yes, sir. stuart: officials reveal that had russia launched a research spacecraft two years ago. do we know it is purposes, lauren? lauren: wall street journal said no, sir if the research as president putin says and a weapon that could take out satellite withs a nuclear blast. launched two years ago and still traveling the earth. has the ability to wipe out spacex's star link satellites in ukraine that they're using for signal or take out satellites indiscriminately for us. >> it could eliminate our ability to obtain intelligence and communicate through satellite's huge problem for the united states. stuart: royal
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watcher neil sean joining awes little later. a majority of voters opposed to far ago bill for the biden's handouts and on the house education committee and can they do anything to stop him? we'll ask him next. ♪ trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more -
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he's connected and trying to get to him. we don't have him at this moment is that correct? thanks. move on. interest rate for student loans hit the highest rate in at least a decade. edward lawrence at the white house. give us the numbers, edward. reporter: interest rates are reflection of inflation and it spiked under president joe biden is department of education saying that's affecting student loan prices and in fact it is now the highest it's been in a decade and 6.53% is for the 2024/2025 school year instead of going after colleges and push up the cost of tuition and biden administration decided to forgive debt and taxpayers shoulders $150 billion in forgiveness and registered voters put the cost of student loans well down the list and top grocery prices and gas prices
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still vice president kamala harris said the president will not stop and finding a way to forgive student get regardless of the cost. >> student loan debt, there was more ambitious plan and forces working against that and the president said i'm going to do it on my own to the extent i can without congress or the court supporting this. >> the cost goes up and budget estimates over 10 years and changes to biden administration ballooning the cost for taxpayers for student loan forgiveness. listen to this.
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reporter: 11 states sued president biden over the student loan forgiveness plan and see what happen this is year. remember the supreme court decide with the states the first time the president tried to do this. can you stop the student loan give away because you've not so far? >> i've passed a congressional review act overturning the original transfer scheme and massive almost trillion dollar scheme passed out of house and senate on bipartisan basis and the president vetoed it. however, the supreme court came in and responded to the legal challenge and nullifies that and these are disproportionally helping higher income americans at expense of lower and middle
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income americans at a time when they can least afford it. this will further drive up our debt and further have interest rates continue to rise and i asked secretary cardonia in the past week is student loan debt legitimate and try to buy votes by waiving student loan payments and saying it's not a legitimate debt the bar rowers should pay -- borrowers should pay back. stuart: i agree it's buying votes. i have to change the subject for a second. you stood with donald trump at his criminal trial in new york yesterday. you were standing right next to him rubbing elbows and he was frustrated with this trump depth charges and this trial in new york and georgia and keep him off the ballot and keep him down
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and they've got the gag orbedder and if we can say the things that this corrupt judge is not allowing him to say, this is a judge that off this trial and corrupt judge and corrupt prosecutor and ex-con star witness that's perjured himself multiple timesser and make the case for the president and we've got his back and we're behind him and the american people are behind him and it's not going to work. stuart: do you expect this thing to be thrown out eventually? >> it should be if truth and law prevails, surely there's a norral judge and one or two members of the jury would say okay, we're not going to move forward and allow truth and
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justice to prevail. this is a sham, this is a witch hunt, a political witch hunt and hopefully not be a conviction and exonerated on appeal and hopefully be dismissed or fail in the first treatment stuart: congressman bob good, thank you for joining us. see you soon. >> great to be with you. stuart: back to the story of scottie scheffler, the golfer arrested this morning and mark blankenbaker is on the phone with me now. mark, you were close to where the incident happened. was it a chaotic situation? >> extremely chaotic right outside of the golf course and extremely busy for this tournament but been running like clock work and a fatal accident with a pedestrian and a bus, which kind of added to the traffic and then as this happened, about 45 minutes later, scottie scheffler was caught up in this and then all
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the sunday he was trying to follow directions of the police officers and he heard one thing and they told him another and next thing there's a police officer on top of his vehicle and he was subsequently arrested. stuart: some of the charges against him are really quite dramatic. assault ago police officer for example. those seem to be very heavy duty charges for a guy in his situation and in that situation at the golf course. >> agreed. i think the assault charge comes from basically striking the police officer with his car and the officer was telling him to stop, he was going. the officer was on top of his vehicle for about 20 yards and that officer was taken to a hospital with like minor cuts and abrasions, ripped his clothing and things like that . hopefully, cooler heads can prevail because it does feel like as the story goes on, it's a giant misunderstanding. scottie didn't make it to the tee box for the start of his
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round. stuart: wow. he is on the court, he's playing and we understand he's one under par for this day today. stuart: we didn't know the police officer was on the car, on scheffler's car for 20 yards and that he asked for his handcuffs to be loosened because he's got to play a round of golf. mark, thanks for adding detail here on a very confusing situation and surprisingly shocking situation. >> it was should being. stuart: thanks very much, mark.
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>> thank you. >> dealing with something else, king charles reportedly devoted to protecting princess kate from any negativity and even family members are not safe from being read the riot act. royal watcher neil sean has all the latest from buckingham palace, that's next. ♪ (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) how so? (fisher investments) we're a fiduciary, obligated to act in our client'' best interest. (fisher investments) so we don't sell any commission-based products. (other money manager) then how do you make money?
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stuart: royal expert says king charles is detroited to shielding princess kate from negativity with her cancer treatment and neil sean joins me. this source says even the family will be riot act if they offer
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negative word about kate. what do you say about this? >> what we know, stuart is what they asked for. this particular story declared to anybody and what we've done with the british media is be respectful for the princess of wales is silence. where's catherine or kate? the lady's recovering from serious operation and on going treatment. des difficult and the king is out and about and seems to have pinged back, when going out for the people, where's catherine and remain respectful and regarding the family. i want to assume anybody would speak out of turn because that would be disrespectful, wouldn't it? why would they? stuart: exempt for prince harry.
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not allowed to stay in wind sore allegedly and that's the way the gossip goes and that's cheeky. susan: harry back from semi-royal tour in nigeria and back home. what happened to his foundation and arch well foundation, how's that going? >> well, i'm glad you asked this, stu. what a farce this has become and we found out, they only worked when it awakened their charity and only two donations and two major doe nayses and a lot of donations in charitable work gone down over the last few years thanks to the pan democrat and i can friends we don't know over here called delinquent and haven't filed paperwork and we don't know it's that and seemingly not filing paperwork and this is bad news for the arch well foundation and because if they can't get that simple thing going then what an earth
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is happening to donations and what are they doing with their charitable foundation? i don't actually lay the blame upon harry and meghan and they allege they run everything. they pay a lot of people, a lot of money and the sort of came that the checks in the post and it was delayed and then they were issue ago check and clearly they're lying. somebody in that operation is lying and it would make it very difficult now for them to secure donations, and i think more importantly, this is the interest a bit, stuart. invictus games and sponsor and all that stuff, is harry in charge of that because quiet frankly not in charge of the piggy back, is it? stuart: why has king charles updated his own funeral plans? >> this is a fun story and they've taken this in the negative form and in the
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reigning motto and update the plans and i find this if you understand that situation and it's a strange thing to know that every detail of your passing is now stretched out upon you. and every so often it's every two years and the queen making a joke about it and it's a terrible thing if you think. stuart: the king or queen of england i guess. neil, thanks for joining us. neil sean, thank you very much. the britts, the uk just got their first billionaire musician, i know who it is and you're going to tell us. >> you can guess it, stu, sir paul mccartney in the past juror former beatle boosted wealth by about $63 million. i did the conversion this
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morning from pounds. had a good 2023 and played to sold out crowds on got back tour and last beatle song now and then was a huge hit and topped charts in uk and value of back catalog growing and growing and this year mccartney had a little help from his friend beyonce covering song bl blackbird on te country album and he's now a billionaire at $81 years scold never too late, stu. stuart: okay. thank you. show me the dow 30. friday morning. give me a sense of where the market is headed for the day and not that much price change, we're up 14 points. don't no anywhere, sports fans. friday feedback is next. ♪
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and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful...
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...day to fly. ♪ stuart: playing elvis specifically.
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>> i'm all shook up. stuart: that was port washington. lauren: wisconsin. i said long island. stuart: pride paid-back. lauren, all ready. john, if your electric car runs out of power on the interstate, do you walk to a charging station to get a bucket of electricity? very funny, john. grady, do you want a car? >> i don't want a car and i take the train and i have encouraged family members to try electric cars for local and on the highway, i wouldn't want to get squeezed. stuart: this is from richard, stu, i noisy recordings you're a fan of rolling stones, as am i. they're in your neck of the woods at the end of this month. will you be attending or taking the crew? >> i'm not generous with the crew and not planning on going. lauren: tickets are like $100 next week. let's go. stuart: that's not expensive. by concert standards.
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lauren: it's a bucket list item and not much time left. they're old. so am i. stuart: best concert you've been to. >> one of the very best was james taylor and i was 7 years old and might not agree with his politics and makes good music and was on the beatles apple records. lauren: let me pile on. the best concert if you want to know, concerts, plural. stuart: no debate audience is a good thing. it should not be affected by party and audience reactions and hush it and more important to hear the candidates. i disagree. would like to see the crowd and more entertaining and debate should be entertaining. got the issues. okay. got to be entertaining. >> multiple one with and one without and everybody is happy and moderators don't have to turn around and shush the crowd. stuart: stop playing both sides here. crowd or no? lauren: like the crowd. they give the energy. if you're not going to have the crowd, don't cut off the mic.
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stuart: this is from alice. hi, stu, you're getting into shows on net flex and what have you been watching and recommend? i like the gentlemen and just getting into old editions of the crown. lauren. lauren: the old stuff that now comes to netflix like this is us. six, seven seasons and got through all them. stuart: do you have netflix? >> i do but dangerously close to cutting out netflix because i have about seven different streaming services and costs more than cable. stuart: that's a good answer. this is from donna. if you're arkansas your life had a theme -- if your life had a theme song, what would it be? i'm not going to do it. lauren: gloria gainer, i will survive. mine is about living to see the next day. i love when people have the schedule for the next month. i'm like i have to get to tuesday. that that is it. >> i would say help by the
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beatles because i need help getting through the week kind of like lauren, but she's a little more positive about it. i'm requiring assistance. lauren: your s? >> i i'm escaping in one. from edward, anyone buying dave portnoy scottie scheffler mug shot shirt put it on the screen. no, i would not. i admire him and don't want to see him in a mug shot. lauren: admirer also but not buying the shirt. >> i don't want that. i do like portnoy. hopefully going to charitity. stuart: that's what portnoy putting that out ask time's up for that and the friday feedback. here we go with which olympic sport with the most competitor s? swimming, track and field, basketball, soccer? the answer when we return.
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morning so it's you. lauren: is it swimming? number one? stuart: she asks tentatively. >> i'm not confident. there's a lot of weird ones like javelin and shotput and stuff like that. stuart: i want to go for soccer. review please, the answer is -- you are right. track and field, 2200 athletes representing 200 countries will compete in 47 events, that surprises me because those 11 players on a soccer team at most countries submit a soccer team to the olympic so i got that wrong. lauren: you seem better about it. >> appreciate you letting me be right. >> i've only been right one time this week. stuart: what was that? girls name, mary. i've got account down. time is up for "varney and company". coast-to-coast starts now.

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