on the grounds the flag must not be shown in the dark. it is raised to full, at noon. and that was a trick question. thank you very much. it is a shame we got it wrong, though three of us here. thanks for watching. coast-to-coast starts in literally four or five seconds. adam: let this be known as the day the ship hits the fan. i practice that 100 times. the computer chip a dynamo and artificial intelligence titan nvidia but it is down, it comes after the bell, they expect to

see revenue and earnings four times what they were a year ago. let's go to jonathan honecker, hedge fund manager, what he makes of that. bottom line is the expectations are so over-the-top, it shouldn't surprise us. >> unbelievable role, up 700% in the past few years and these earnings after the bell today will rock the market. the options market anticipating 9% move, shares of nvidia, with a $200 swing, it could be up or down. 90% of the stocks in the s&p, expectations have been high, performance has been high. even today the sector continues to perform. nvidia was at a 50% high, you see qualcomm and texas instruments, ai is changing the performance of the stocks.

adam: is it going to face the pressure a venture -- apple eventually faced, not enough billions and billions, what you want to call it, you got to beat even the whisper numbers, $26 billion in revenue. even though the expectations are closer to 24 billion. to make the point it is now in that rarefied lead, they are greater than great, magnificent. >> the performance and expectations are so high, tech stocks, not performing this year, apples break even, not so much the magnificent seven,

nvidia has been that, and this is going to rock the markets. adam: record is down a little bit today. it's very volatile but rewarding for shareholders. that's an understatement up 40% this year, professor double over the last year and found some. is this what good companies that make a good amount of money do? >> the last four or five years, easy to fall in love with these big technology stocks. they had been the leaders and nvidia is top of the list, apple as well. we've seen a changing of the guard this year, the market is broadening out, international stocks, value stocks, alcoa, 3m, walmart at a 52-week high. a bit of caution to investors, don't make it all or none

especially when it comes to something like technology stocks. nvidia from 2001 to 2010, we are down one, you lost money, a decade in the early 2,000s. where the markets favor of it right now. with other types of sectors. adam: the influence of the magnificent seven, 6% of the s&p 500's gain, a little less, 47%, disproportionately still. >> to the late 90s in early 2000s, see mgi, microsoft and that was it. in the course of that decade, the market double down, that's the opportunity. we talk about a diversified portfolio.

we see some and international, to broaden out that portfolio, you have to be in it for the long-haul. nvidia's gains came over the long haul, you can't analyze these stocks on a day by day basis, the trend continues to be higher for nvidia, and fireworks and the stocks move. neil: after market hours trading, we watch it very closely. and something looks at it from sometime lunch tomorrow. >> there was a great column today.

and outline, and layout a good argument, the internet boom or whatever you want to do it, past is not prologue. it is not a lot rich. >> haven't seen her analysis. the price-to-earnings multiples. and look at that crazy blow off, there's ahead of no sales. they had a website, marriott other dot.coms, billion dollar market caps.

constructed growth in sales and earnings which are ultimately what drive stocks. adam: how did you deal with the whole ai phenomenon? not as well-known but explain how you do it. >> i don't want to do what everyone else is doing. don't want to buy the nvidia, leading the next trend. the underlying tail will benefit if you look at that, nvidia has to sell blue chips on the holdings business model collecting royalties year in and year out. there's a big distinction between nvidia and microsoft. nvidia has to push, getting pulled into the market. microsoft and apple push ai

into the market so -- neil: they meet those products. >> microsoft's copilot running on architecture so it's not necessarily nvidia. nvidia is not going to be the only supplier of ai chips. they announced in recent weeks they are coming up with ai chip division. it's not -- neil: we talk about this on and off the air. this bull market and whether this bull market keeps going, ken fisher was here, slightly different, off buyer billion but he was saying that i don't see anything getting in the way, this one is 580 days old. it is gone up 50%. that the typical market rally,

bull market rally, a thousand days, and double that, 114%. >> by that metric i agree. here's the other thing we have to think about, this bull market is running, through a huge fed rate increase cycle and there are going to be cuts which is stimulative to the economy and the stock market to. ultimately we are going to get fed rate cuts, won't have until next year. neil: also a case of buying on rumor, expectations, when they start cutting, cut a run to get out the door. >> you are a trader or investor, with market movements and key milestones. we might be a little younger and have long-term horizon, but a good 5, 10 year 15 year

horizon. neil: you are the best. we wanted to give you an overview of what's going on, attention to individual issues. i don't want to make a big deal of nvidia, it has become a market bellwether stock and one that can reposition other stocks, that after the closing bell today. in the meantime they are wondering how the president of the united states finds a way to forgive close to $7.8 billion in student loans for loan forgiveness, the value of nvidia. let's get the read on that from grady trimble at the white house. >> reporter: it will relieve

student loan debt for one hundred 60,000 borrowers in addition to the millions who had their debt forgiven under this administration. the beneficiaries this time, public service workers, teachers, nurses, people who worked in law enforcement as well, also makes borrowers eligible for loan cancellation after 10 years of payments instead of 20 years of payments for those borrowers, and president biden says i would never stop canceling student debt no matter how many times republican elected officials try to stop us. here is a response from a republican, >> he will stop on january 19th, and wiser student loan debt, and the actual borrowers should be transferred to the taxpayers who didn't borrow the debt.

>> congressman good is one of one hundred 30 republican lawmakers who sent a letter to the education secretary calling for the department to withdraw the previous round of student loan debt cancellation. the biden administration approved a total of 167, with $5 million, and moved on to plan b and he should point out, the latest fox news polling shows, the most popular policy ever, more than half of voters in polling say they oppose student loan debt forgiveness. the biden administration forging ahead regardless. neil: is your generation that has to deal with that. i am out of here.

in the meantime, donald trump, a lot of women and politicians and hybrid connected individuals seen in the background, you could recognize it but everyone stopped in their tracks when they saw joe piscopo, yeah, joe piscopo, i always told you he was influential and powerful, this proved it. joe is going to talk to me after this. ♪

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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... ...day to fly. adam: everyone in the media is obsessed with the trump hush money trial. actually there's a lot going on behind-the-scenes. lydia is following this. lydia: as you know, the defense rested its case and did not call donald trump. usually, you would see a case move quickly to closing arguments.

the judge raised concerns about the weekend interrupting jury deliberations. he dismissed the jury until tuesday. that's when we expect closing arguments to happen. yesterday the attorney called a charging conference to discuss instructions and tensions became evident when defense attorneys asked the judge in language that suggested trump and relied on something called the advice of this case. defense attorney was told it is disingenuous. trump seemed visibly annoyed, back in his chair, i take that as a sign this month and 1/2 portrayal is wearing on the nerves of some of the people. and cross-examination, bob

castillo concluded, one of the two witnesses called by the defense in its case and this was a paralegal to authenticate records, to advise michael cohen in 2018 and testify for the defense, trump did not know of the payments to stormy daniels. in cross examination prosecutors honed in on old emails suggesting that costello, is more interested at that time in helping donald trump and rudy giuliani. by testifying in this case now, and in 20 witnesses of this case, michael cohen, stormy daniels, deliberations next week, to possibly get a verdict.

neil: living and dying for your coverage, so much wrong with this, with announcements on these key people, it reminded me, singer elvis costello is not -- wouldn't that be something? thank you for clarifying that. lydia is pointing this out, anyone who wants to impress the big guy, to show their support and have their back to the big guy. over the course of this trial a couple dozen have done that in the court room. when people spotted my next guest, that is the cloud right there, they don't know if it is for joe piscopo or the former president but joe piscopo, you went there and the trial was going on. >> i was there yesterday.

how are you? when donald trump came to wildwood, one hundred thousand people and put a message out to its office, have a couple moments near you, the president's office got back and donald trump, giving seven minutes. and the a.m. 970 radio show. and see all these people out there. and and my cameraman, secret service, it is not a long time.

motorcade came in and came to me. i'm italian. i don't forget these things. when the trial started to unfold and i saw it and you deliver it back like you do on the television and the radio, i don't know what the crime is, i'm going to show up to show respect to donald trump, that is all that was. sign up of friendship. i wanted to show loyalty. there's none of that. the president showed me great loyalty and wanted to show it yesterday and that is what i do but i was in the background. neil: he was sucking up to you. you are a power center. these other congressman, you could argue, you have nothing to be a sycophant about, don't need anything for him.

you are joe piscopo, you print your own money. don't need him to do anything for you. those other guys, you got his back. looks a little patronizing and all that. you did it and that is why he was impressed and that is why he recognized you as a power base. i know these things. >> i don't know. i woke up to the secret service and said do you know who i am? neil: never works for me. >> it was nice to see. you and i know each other. 20 plus years for you. with donald trump, when times are good, times are bad, never forget i went to the shore to

one of his hotels and it was one of those down times in my career which is more often than not. i went in and i heard from on high, got the word that donald back then, whatever joe means, you don't forget that stuff. neil: i remember, had a chance to interview you and the first thing you said when i went up to you, never pardon my spot again. i think we just -- >> you are the guy, people think it is frank sinatra, it is neil cavuto. frank sinatra, come fly with me, baby. neil: you are the walrus.

i love you to death. and on my good side, you stood out for that. >> i had mentors on the inner cities in areas of america i always hung up with. offering the opportunity zones, yes, you are on it. up presidential inner-city task force in the inner sees, permission to speak freely, what happened when you were donald and i was jersey joe, i miss of those days, got to stop with the hate, got to just, may disagree.

as long as you are the exalted mr. grow. neil: you are that and then some. the 50th anniversary show if you are not on it, you, 50th anniversary. thank god. you are the best. joe piscopo, genuine article. but bottom line, how lambert, former governor desantis donor, the maga etf harkening back to that. always good to see you. a lot of money coming in since the trial began, you had something to do with that but the first month where the

president's hall was running higher than president biden's. what can you tell us about that. >> it is a significant number and there's a lot of fundraisers coming up. in early june, the red state of california for several fundraisers, also in nevada for a fundraiser and another one coming up in new york so he is hitting these states fund raising and is doing extremely well. a lot of that has to do with the disappointment in joe biden but the polling that moved trump's direction. people say polls don't matter, it's too early, polling does matter when it comes to fundraising, people watch that. neil: they do, think how the president's numbers dropped, the former president, donors would be as enthusiastic. in this trial, saying we will risk it if you call that risk.

>> it is both. it held up well through this trial that a lot of people after more evidence is presented feel it was a sham trial so you look at that and look at the polling going his direction. he's moving in his direction almost every demographic and just came out suburban women, the hardest thing for trump and republicans in general, lost 13 points to suburban women in 2,020, thirteen points. that has been cut in half, democrats are panicky over there because any demographic is moving trump's direction and that helps fundraising because people look at that as a barometer of who's going to win. stuart: neil: if you were not a fan, you didn't like the former president but you would prefer ron desantis, what does desantis say to you when he sees you out of this financial juggernaut leading the charge? that was supposed to be me? >> no.

just had a call with the governor a week ago. he is going to help trump with fundraising get. some interesting work, met with donald trump and they talked about it. with what he's going to do. everyone is on board. neil: you have a financial role in the political world. great catching up. >> a tough one to follow. neil: a no-win proposition interviewing joe. thank you again. appreciate that. we are following the aftermath in iowa of these incredible tornadoes and storms. this is the month for them after all but these things don't stop and now dallas is getting ready for nasty weather of its own.

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neil: what took so long including this measure to cross the border, other data speed up asylum adjudication, try to get it done with 180 days, stuff about president biden could have done all along but didn't.

>> we took action a long time ago and migration -- the phenomenon, we are seeing the results that take time to take hold. neil: alejandro mayorkas with me yesterday, we talked about this on the part of chuck schumer to reignite the border bill, with republicans balking at it, couldn't do what it said it was going to do, all sorts of recriminations on this but he's trying that in the senate, that also has no possibility of getting past so we are back where we started and that is the one thing that bothers my next guest, and mayorkas is hoping to see that. his boss is worried about it being an issue, has become and is, these executive actions

with republicans have demanded and materialized. no matter what happens in the senate. what do you think of all this? >> three word for the secretary, weight in mexico. the president has that authority, donald trump exercised it and president biden reversed it. every expert agrees, refuses to do it, he's going to lose in november largely because of the wide open southern border. adam: it was his message to work with mexico to get them to do more. we see figures rise and fall, entire under this administration than they have

been, and mexico and guatemala but the entire world. the terror implications of that, are a worry. >> it's no less secure than in higher administrations, the obama administration, one. 8 million illegal border crossings. this administration has seen 8 million, there are a majority of folks crossing the southern border are not from mexico but everywhere else. the way you get the mexican government to work with you is leverage economic mind and they need us more than we need them. that's what donald trump did. president biden refuses to do so.

julie: are tight with the powers that be in the republican party, including donald trump and if he gets back in the white house he isn't only going to put this immigration issue on the front burner but is going to burn a lot of caveats and call for mass deportations and more to stop it in its crib but we are beyond the crib obviously. what do you think of that? what can you share with us? >> in texas we have half a million arrests from criminal aliens. 187,000 from 2011-2024. folks in texas and across the country are crying for this, secure border, we want law and order. if we are not safe, you are not free. donald trump has proven he is

focused on securing the safety and well-being of america's innocent, president biden is appealing to his far left contingent. neil: i will put you as a may be on joe biden on this issue. good seeing you. have a wonderful weekend as well. pat fallon of the beautiful state of texas, house armed services committee, a lot of key committees have a big say in this. you probably heard the latest housing news that the number of homes on the market has begun to increase. you would think that would boost sales but it did not. the problem, interest rates. for a lot of home sellers who have low rate mortgage plans, what if you could buy the home for them and the mortgage they have, it's a new trend after this. ♪ ♪

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i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with xfinity. neil: existing home sales slipping a little bit which is surprising because the number of homes on the market has deadly been increasing, cut the

price of the homes, and there is a potential trend developing get here that you can assume the buyers and sellers, gets not too complicated. it's a trend that bears watching. >> the era of the low rate mortgage, that is taking over existing mortgages and locking in the all-important 4% rate. the home sellers signs the balance of their loan for you. you become responsible for the remaining payments meaning the mortgage will have the same terms the previous owner had including the interest rate and payments. there's a catch, that's not all we pay. you have to compensate the seller for their equity. if they pay $200,000 on the mortgage you have to give them

$200,000 cash. you might get a loan for this. it could come from savings. the whiplash in interest rates makes an uncommon type of mortgage extremely valuable for prospect of buyers. >> it's more pronounced today than it has been because of the sharpest rising interest rates in 40 years. that is what makes it go from record low mortgage rates in 2020-21 to the highest mortgage rates in 30 years, that disparity makes an attractive prospect. >> reporter: you need to know, less than a quarter of all mortgages are assumable and 13% of mortgages have rates below 4%. other things to know. only government loans typically qualify, the va mortgage, very few of these deals get done.

what's more, loans uncommon, 6000 were done in 2023 nationwide. rate lock for the handcuff has been plaguing the real estate market for years. and they don't want to sell, constricting inventory driving up prices, the trend of assumable mortgages is a sign of the times. if you are interested, the assume a list is worth checking out. neil: i don't know if i told you what i paid for my first mortgage. it is what you get used to. lou basenase, has done amazing things of his own. anyone who talks about inflation, this might be the opening for young homebuyers,

that's the biggest catalyst. >> put a band-aid on a bullet hole. it's a supply issue, a niche product working for a small percentage of young homebuyers paying for the down payment. it's not just a down payment of 5% to 10%. neil: if the mortgage is already run down -- >> or $200,000 mortgage balance. neil: and get approved for that. housing inflation is real. i have been noticing trends this week, reducing prices of 5000. and wendy's is going to offer a free dollar breakfast. mcdonald's kicking around a meal, that is something?

>> it a sign of the times, everyone is waiting for the consumer to crack. things like the horror movie waiting for the antagonist, you know it is coming, wage growth versus inflation. and inflation is outpacing wages. consumers break that. we are on the precipice of that, it gradually happens and suddenly, these actions by big corporations to bring more consumers in. they anticipate it will happen soon. neil: my crackpot theory is consumers are resilient but that's the upper end consumer. i'm not saying all of them but

that disproportionately shows consumer strength. it is more a bifurcated thing. >> you put your finger on the key proportion, the headlines are screaming about the absolute level but if you look at it in terms of percentage or proposing of total income it hasn't hit that. neil: high debt levels but not as high as they were before relative to the income. if that changes, the well-to-do cut back away. >> it gets below inflation. they keep creeping higher. neil: the federal reserve cuts rates. anything there? >> no one parties like it is 1999 although that is what they are projecting.

i remember 1999. almost graduated from college. neil: the inflationary environment, more companies doing that kind of thing, you don't like the pressure on the white house staff but if you see enough of that, will that change things? >> inflation is a psychological factor. if you believe prices are going higher or lower, you see that play out, if you rewind to mid 21-22, rampant talk about imminent recession, consumers change the way it is working can. stronger profit growth from operations and underlying strength in the economy. neil: i did see that, interest rates. you have been lucky. also very good. thank you very much. keep an eye on nvidia and

technology stocks, the volume that's not as strong as would think ahead of the earnings that are out after the bell. that could be a market trend setter after this.

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this tornado. search and rescue operations are happening. only letting in folks who live here, proof of residency. this tornado struck at 3 p.m. and after it tore through this community, it was a frantic race to find the survivors. the hospital here was destroyed in this tornado. they had to use the local lumber mill as a triage center flying out people, flying out the victims who are most injured. more than a dozen tornadoes hit aisle i yesterday. one other person confirmed killed. and greenfield, we don't know how many are dead or how many buildings have been destroyed. this town is a shell of itself. this is a community needs a lot of help or take a long time. neil: looking at the homes that were demolished next to homes that weren't touched, that's

the one thing about tornadoes. >> the wind whips around. what it destroys, what it saves you never really know. neil: max gordon in the middle of it, he always is. it does put life in perspective when you talk about stocks, all they are important for the people in that community at this moment. that will do it for this hour. i want to go to jackie deangelis, "the big money show," to take you through this crazy market. jackie: i am jackie deangelis. taylor: i am taylor riggs. brian: i am brian brenberg. welcome to "the big money show". jackie: stocks edging lower ahead of the release of the policy minutes in the next hour and ahead of nvidia's earnings after the closing bell. and more insight into th