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tv   Varney Company  FOX Business  May 24, 2024 10:00am-11:00am EDT

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mako can help lead to better outcomes, like less pain and shorter recovery times. the lifetime of a hip implant is limited, and revision surgery may be required. individual results and recovery times vary. risks of surgery include pain, infection, heart attack, stroke, death, and other serious risks. ask your doctor for important safety information. to find a doctor who uses mako visit makocan.com stuart: flow rider. i like that song. it's 10:00 eastern, may 24th. look at the money, dow up 50, nasdaq up 74. big losses yesterday.
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most of the dow in the green. the 10 year treasury yield paris like close to 4. 5%,%, the price of oil, 77, don't know what that is. anyway. let's move on. we just received, there's bitcoin and there's bitcoin, 67-two. we received the latest on consumer sentiment. the number please. lauren: 69. one, that's better than the expectation which was for 67.5, that's your final number for may. it went up because inflation expectations went down. stuart: thanks. now this. august 5th, 1980, republican presidential candidate ronald reagan took his campaign to the
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south bronx, that was a gutsy move, the bronx was and still is solid democrat. reagan saw opportunity. he could blame president carter on urban blight and pick up some votes and wasn't afraid to meet bronx residents face-to-face. watch this. >> i'm trying to tell you. >> i'm trying to tell you that i know now there is no program or promise a president can make that the federal government can wave a wand and do this. there is legislation in congress, legislation for cooperation between government. and the private sector. stuart: remember the good old days? it worked, reagan won in new york state at won it again in 1984, he went to the belly of the beast and delivered a positive message.
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four decades later another republican candidate did the same thing, donald trump went to the south bronx and delivered an uplifting positive speech, his audience liked what it heard. role it. >> we are not going to let this continue. we are not going to abandon our hope and our pride, this city has given us so much and now it is time that we are going to give it back, together we are going to make new york city great again. stuart: what a contrast with president biden speaking at morehouse college the president turned negative telling the graduating class all the challenges and hardships they face, trump brings a positive message and delivers it with great energy, he wants to win black and brown votes and by the looks of the crowd he did well last night. second hour of varney just getting started.
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tammy bruce with me always on friday morning. trump had quite a showing of the bronx last night, do you think he has a chance of winning new york state? >> what we are seeing with trump about his the front runner tells us anything is possible, none of us could have guessed what we have been seeing in the last 6 or 7 years. it is remarkable. clearly americans can do whatever they want, and do what we want to do in the election, new york state, it depends, this is a reminder of what was important about that rally is what new yorkers want to see what americans want to see, to be taken seriously, to be worthy of you visiting us, that we are not some roadblock or fly in your stupid you've got to deal with because you have an election coming up. it's a reminder that we are the ones who matter. reagan imparted that as well with his visit so this is not about pandering to anyone. it's about having the respect for the american people that is also reflected in policy and
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regulations. if you respect us enough to go into that environment, not much has changed. you've got, you stand for something. biden doesn't stand for anything, neither do the democrats, they use fear as opposed to optimism. stuart: new york governor kathy hochul says the people who went to trump's rally our clowns. role tape. >> what would make a difference is for donald trump to be the ringleader, kept his clowns to a place like the bronx, new york will never support donald trump for president so go ahead, spend your time in new york. we will be with joe biden, and he is winning over the rest of the battleground states. stuart: a very contemptuous -- liz: it was smug, there was a body movement to it, if she could have wiped us off the table she would have done that.
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these are new yorkers, people of color, women, young people, old people across the spectrum. it is stinky. it is the unwashed masses for these people, the fact that donald trump, another reason they hate him, reminds us the forgotten man and woman forgotten the last four years and suddenly we are back, that they cannot handle because it reveals the nature they are better than everyone else, why should we have to worry about what those weirdos and clowns over there saying maybe there votes matter so this is important, it reveals the contempt, reminds us of the absurdity of what they think of the american people and they want the democrats to be afraid of being called a name or nothing at a cocktail party, we want to be invited to the future with our families. that's the invitation we want and the only way we are going
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to get it which is with energy independence, being able to afford, not asking for the world, we are asking for a decent middle-class life where we know what the future looks like and our children have better opportunities than we did. that is this country, we are still a baby country, we can do it but at this point only with trump. stuart: we are not deplorables. liz: nor are we clowns. stuart: thank you, good stuff. it has been a long three weeks of trump's new york trial so are voters, what are voters saying about this ordeal being presented? >> from tennessee, dc, california and the swing state of michigan and they seem to agree this is political prosecution even if they don't like donald trump and even if they are not voting for him. >> it is a sham and a disgrace. that they would take a former president who will be our
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president in november and try him like that. >> it's the most corruption i have seen in my lifetime. i am flabbergasted by the blatant corruption that's going on and political targeting. >> sound like it is a kangaroo card and if not thrown out i will be shocked. >> propaganda. i don't think there is much there but as far as trump himself i didn't vote for him, not going to vote for him, don't particularly care. >> never trumper in michigan, propaganda, political prosecution, he's not buying it, he's not buying it. the next question, if trump is convicted and all the news reports and journalists, convicted felon donald trump, will that sink in and change voters minds? >> i think it will change the minds but not many. thanks. let's get back to the markets please. not a huge price change this friday morning so far, nasdaq is up 75.
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kevin is back to watch the markets. you say one of the best ways to get into the ai market is through data centers. that really interests me because the data center explosion is something else again. how do i invest in them? >> everyone likes to talk about semiconductors and chips but equally if not more important our data centers. data centers are the nervous system of the ai ecosystem allowing get massive amounts of data to be stored and processed which there's a couple examples of the massive amounts going into data centers. a reit that has a joint-venture with blackstone to build $7 billion of data centers across the world in areas like paris, frankfurt and northern parts of virginia. microsoft is planning to build $2.9 billion of data centers in japan by next year and earlier
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this week, nvidia announced they had a 400% year over year increase in their data center revenue. if you want to invest where the puck is right now investors should look at these data centers. stuart: digital realty trust, give me the proper name of that. >> digital realty trust, a 12 point yield of 3.4%, up 7% year to date. there's another interesting name in the data center space and that is eq i ask. they operate 260 data centers worldwide in 70 one markets, they are up 10% year to date and also have a different yield, 2. one%. they offer exposure to data centers and earned income potential. stuart: thanks for joining us, digital realty trust, see you again soon.
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trump has a new nickname for his economic plan. what is he calling it? >> amaganon-zooba ics. >> on day one we are going to throw out bidenomics and replace it with amaganon-ics which i will give you lower taxes, we will cut it still lower but i will give you low taxes, low inflation, low interest rates, rising wages, growing incomes and fair trade for the american worker and we will make energy affordable again by saying drill baby drill. drill baby drill. lauren: that is what he wants to do. we will see if he can do it, optimistic message, he says things are getting better, life is going to get cheaper, i feel your pain and want to change it. stuart: that's what a presidential candidate should do, offer something better, things are going to improve.
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>> the only person he attacked in that speech was the current president of the united states. stuart: back to the market looking at the movers, loose it is down. lauren: 400 jobs, 6% of staff ahead of the launch of their first suv. stuart: workday. lauren: the number one decline are down 12%, human resources, software provider, they trimmed full-year guidance, seeing fewer subscribers because companies are hiring less. you don't need as much hr software. stuart: deckers. lauren: a top earner on the us and become overall sales up 23% in the quarter. stuart: i know this. lauren: they are relatively expensive but selling well but
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i guess consumers pay for comfort. stuart: all those are in the umbrellas and they are up 13%. >> the tape says deckers. lauren: i thought i ordered up. president biden has big dreams to add more electric cars to the roads. they walk out of their commencement ceremony chanting free palestine. we will tell you what sparked the last minute protest. thousands of people swarming the bronx to support donald trump. watch this. lauren: the president of the new york young republicans was at the rally and is going to join me after this. ♪ ♪
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from professional certifications, to job training, to help navigating programs and services, we give veterans access to support from anywhere in the world. stuart: last summer republican presidential candidate won the state of new york in a general election was ronald reagan in 1984, trump says he's going to change that. is going to do it. the president of the new york young republican club joins me now. welcome back. you were in the bronx all day yesterday. take me through it. the crowd but watched trump was mostly locals? >> absolutely. this is the part that's not easily accessible to people coming from the suburbs in the tri-state area, knowable amount of parking but this is south bronx proper and we were doing a ton of outreach in the community in the days leading up to it, 6000 flyers in
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spanish and english, double-sided, we took over electronic billboards in the bronx to promote this event. i got there very early in the morning at 8:00 before torrential downpour and saw people lining up already that early in the morning. it was local from the bronx, puerto rican flags and american flags, this was a true new york crowd, truly diverse and capture the best the city has to offer. stuart: you are a republican. young republicans club. the trump campaign says 25,000 people at the event last night. are you skeptical of that very high number? >> i was there and i've never seen a c of maga hats as big in the city of new york. maybe it was around 4000. police estimated 8 times that amount showed up and the line outside to get in was bigger than the inside, went back a mile wrapping the park going into the neighborhood areas so this was a huge crowd, if
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anything could be said bad about that event is not enough people got in when they wanted to and that was because of such overwhelming support. stuart: there was a counter demonstration the didn't draw many people. i thought they would marshall loads of protesters to get trump out but it didn't happen. >> they have been trying to do protests the day of, they had a small presser with 30 people, aoc had a town hall of 12 people half-asleep and they couldn't get a real anti-trump protested there, they rented the palestinian protest downtown who were just as anti-biden as they are trump, 40 showed up, they were so him, we will more worried about our side overwhelming them than them overwhelming us. these guys are total clowns, they have no political competition, not used to the big guy coming to the town and trump to them, no pun intended. stuart: trump supports in the bronx went after alexandria ocasio cortez. role flat tape.
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>> where you're from? >> the bronx. >> originally from the bronx and from new york. >> the bronx. >> the bronx, new york. this is home right here. >> josé says if you're not a democrat you don't belong in the bronx, what you belong? >> this a with that. >> i don't think she should be here in the bronx. >> i don't know any democrats living in the bronx. >> look at this tremendous support for donald trump. >> need to stay out of the bronx. look at the people around. >> i am a democrat and i belong here. >> are you voting for? >> donald trump. >> what is aoc done for the bronx? >> nothing for the bronx. >> nothing has changed or gotten any better. >> nothing. absolutely nothing. >> people that struggle, she doesn't know what struggle is. stuart: the bronx is deep deep blue. doesn't now have a hint of red?
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>> anything donald trump does to expand the base should be cheered on, this was a historic rally, carter couldn't pull this off, reagan couldn't. he spoke to a huge crowd. this shows that make america great again movement applies to all americans in the bronx, detroit, blue states, red states, those are aoc's worst nightmare, playing for rain in the morning, what was she scared of? if he has no support, he had support, they showed up and looks like they got that. we when you are natural born politician. you are running for office at some point. >> we are happy to have a successful event, make some history and get support. stuart: national born politician, come back anytime. hundreds of students walked out of the harvard graduation ceremony yesterday. why? lauren: they were upset that 13 of the protesters on campus
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were not allowed to graduate. [chanting] lauren: let the more, they locked out because those 13 students weren't allowed to walk on the station get their diploma and if you look at the walkout, they are draped in graduation grounds with some were even draped in palestinian flags and faculty joined them. hundreds of students graduating. stuart: do people think higher education -- lauren: good question. the numbers are dismal. 47% say it is worth it if you don't have to go into debt to pay for it. your research nevers, they find 29% say it is not worth the cost. meaning there is no return on investments to a 4-year degree, 49% say it's less important today than it was 20 years ago,
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to get a well-paying job. this is the workforce young adults are entering into and many of the employers are saying you don't have the skills we need, artificial intelligence, and you have a lot of indoctrination we don't want in our place was so many companies push out the dei. >> a lot of youngsters want to be their own boss and start a business. >> you need to learn a lot before you do that in my opinion. stuart: take a risk for heavens sake. better than a 4-year degree the cost you $100,000 and is useless, that's just my opinion. all right, here we go. what are we seeing at this moment? nasdaq up 100 points, down yesterday, one hundred up today, the dow down 600 yesterday, up 41 this morning. elon musk has a chilling morning for the future. he says artificial intelligence is going to steal your job.
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stuart: the markets open for one hour and look at the nasdaq, up 120 points. i want lahren to deal with nvidia. lauren: they are worth $2.56 trillion more than amazon enters the combined. stuart: the third most valuable company, microsoft, apple, nvidia. lauren: i believe that holds. they beat and raised guidance for the quarter, off-price retailer doing well, stock is up 8.4%. we want guardian health. lauren: a 6% gain, they have a blood test for cancer, doing well moving toward fda. stuart: promising. look at the price of gas, it
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will cost $3.60 for a gallon of regular, that is up from 239 on biden's first day in office. are democrats worried gas prices will hurt in november? >> reporter: not as worried as they should be if you are looking at the polls, gas prices are 50 one% under president biden since he took office to now, voters are feeling it. fox news polling shows 84% of voters say gas prices are a problem for their family. in addition to high prices on other things like groceries and housing but some democrats on capitol hill are brushing off the idea that high gas prices could hit them in the polls in november. how big of a problem are high prices going to be for democrats headed into november? >> who knows? the basis of fuel costs are
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based on supply and demand, that will hasn't changed. >> reporter: do you think these high gas prices are going to have people thinking twice about supporting president biden in november? >> hard to say to the extent that gasoline prices vary across the country. >> economies ab and flow. we will be fine, we will get to the summer and be fine. >> reporter: do you think high prices is a political liability? people are getting pinched almost everywhere from the grocery store to the pump. is that a problem? >> it's always a concern in any administration. >> reporter: may be a concern but they don't think it is a problem at least not biden's problem or biden's fault and they are hoping voters do not blame biden when they go to vote in november. stuart: we will see about that. thanks. in a report from the house oversight committee says the country's energy future is under threat from the administration. in what way is our energy future under threat from the
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biden administration? >> not just current problems with high gasoline prices, it's a legacy of future problems, a legacy of trouble because biden's epa has passed a final rule that says if power plants don't barrier sequester 90% of their carbon emissions by 2039 they have to close down in 2040. remember that epa passed another rule saying do we have to have 70% of new cars be electric by 2032. just as these new electric car sales are being required, the power plants have to shut down. that means no electricity, higher prices of electricity to charge the electric vehicles. we one can we do anything with our electric grid to produce the electricity we require in this timeframe? >> certainly not. if we get rid of the natural gas power plants that are the backbone of our electricity
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production and produce very clean air, that's not all of the future problems. by paving over the country and requiring more solar panels, that less land for agriculture, that drives up food prices in the future, by making you electricity more expensive we don't have the data centers for ai, artificial intelligence which some people say is going to be the wave of the future and china is going to outcompete us. stuart: we have to go nuclear. >> we have to go nuclear. one of my teams writing a book called going nuclear about how to change the regulatory environment to encourage more nuclear power. it's clean, it's dense, it's inexpensive once it is constructed and it is an amazing environment or surrogate. we what is it still dangerous? everyone remembers three mile island. >> no one was killed in three mile island, no one was killed in fukushima. we when you wouldn't want it in your backyard. >> it is very safe. france has generated 60% of
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electricity with nuclear. for the past half-century we don't hear about accidents in france, tourists fled to france despite or because of the cheap energy created by nuclear power. stuart: are you predicting an energy crisis where electricity prices spike because we can't supply what we need? >> unless we have change in policies from the new administration i'm definitely predicting us energy crisis. we need to be rolling back environmental protection agency rules that require pipelines to shutdown and require us to have more electric vehicles. we one thank you for joining us this morning. come back soon. thank you. most automakers have been pulling back on ev production but there' s one that's doubling down. it was that? lauren: hyundai. they are hungry to win the us market and be the number one evmakers, doubling down on the vehicles they make which are more of what customers want,
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cheaper ev with fast charging and long-range. if you look at their ionic six it is the only ev that meets potential buyers price range and charging targets according to a study. that's the sweet spot. there ev sales are up 62%. stuart: different from everybody else. thank you. biden's green new deal includes three billion dollars for environmental justice. we will try to explain what that means at the top of the hour. first, have a million people will get on a flight this memorial day weekend, some travelers on edge as boeing deals with safety problems. grady trimble has more on that from reagan national next. ♪
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stuart: we are playing the song vacation because we have a story about vacations. in michigan, the best summer travel destination by usa today. horse-drawn carriages, fudge shops and car free roads. in laurel highlands, pennsylvania. lauren: haven't heard of those places. stuart: many of us are headed on vacation. aaa predicts this will be out breaking weekend for travelers. how many people are flying this weekend?
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>> 3.5%, and in 2005 and a 5% increase for memorial day weekend, bigger jump compared to pre-pandemic levels, travel is back and the reason is a travel booking apps, airfare, 10% last year. what the airlines are predicting is the busiest summer, and the biggest plane maker, the second-biggest in the guru is struggling. this morning we got an annual safety report, the third that it put out and submissions for its employees raising concerns about safety and quality increased sixfold. compared to the same period last year in the months after the door plug blowout in the
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alaska airlines flight. we are talking to travelers and interestingly some of them tell us the problems at boeing are influencing their travel decisions but most tell us they will not be worried. >> i specifically booked. just to avoid boeing. >> the problem to some degree. >> reporter: as part of the faa oversight, the plane maker 90 days, comprehensive safety and quality plan. the faa administrator, that's the beginning, long road ahead for boeing. stuart: every year, a story
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about how your hotdogs or turkeys will cost compared to previous years. compare the cost of your vacation, the story here is the cost of that vacation has not gone up that much. lauren: take a vacation, people. in the fast 15 years -- lauren: compared to everything else that is pretty modest. airfare is down, hotel prices are down, car rental prices are down, what is up? dining out. 30% since 2019. baggage fees, seat selection, entertainment, it is expensive. it hasn't gone up is that much in the last five years. stuart: i'm not outraged by 15% increase in vacation costs. lauren: it has gone up a lot more than that.
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neil: we go to hilton head every year. i know what the prices cost. it to timeshare. they are different this year. stuart: point taken. thank you. a shocking admission from a liberal college professor in new york. >> there are more republicans and dissatisfied democrats in new york than we would like to admit. i don't know if new york is a blue stronghold. stuart: what i keep saying, trump has momentum in new york. more on that for you. plus, we are one month from the first presidential debate. neither campaign is running any national campaign ads. seems unusual but there's a reason. we will explain it to. next. ♪
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stuart: heavy selling yesterday, the nasdaq rebounding to the tune of one hundred 20 points, the dow is down 600 yesterday, 5 points as it does now. big tech sector, is a mixed bag this morning. matter, alpo, alphabet, amazon, they are all, and $190 a share. and $40 million in texas this group week. one in dallas, one hosted by oil billionaires in the houston. they came up with a lot of money. stuart: the presidential election is likely to be decided by just seven battleground states.
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william, what other candidates are doing to win over voters in those states. >> most of us aren't seeing it. unless you are in one of those tossup states, you are not seeing the million dollar and more. more money is being spent in lansing than los angeles or chicago, this is president biden's spot, tens of millions of views online, 10 million on tv, $1.2 million by, if trump is elected americans will lose their healthcare. >> president biden: healthcare should be a basic right. he's coming for your healthcare and we are not going to let it happen. >> reporter: biden's number one issue, abortion, they are nine versions of this ad from liberal super pac american bridge. >> this is a president who bragged about being responsible for overturning roe versus wade. he called for punishing women that have abortions.
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we are already moving backwards. if we reelect trump, what will be lose next? >> reporter: in the last seven weeks, which tracks ad spending, biden is focused on philly, phoenix, detroit, atlanta, milwaukee, pittsburgh, grand rapids and raleigh. the number one ads where trump attacks biden on character and inflation, 2 million-dollar by, 70 million views, in new york, georgia, pennsylvania, michigan, north carolina. >> he keeps denying reality. is it dishonesty or dementia? biden's week, he has failed and he is dishonest. we had more in our pockets when trump was president. >> reporter: trump hits biden on immigration. >> biden's open border is hurting americans. >> president biden: nobody is going to be deported. >> reporter: trump is in court, using the trial to appeal for contributions.
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>> we are in court with donald trump standing. >> make america great again, he's the man to do it. >> reporter: less than six months out, the ads are getting nasty. biden launched a 14 million-dollar by, voiced by actor robert they niro that uses words like dictator, revenge, and bloodbath, just a snippet of what is to come. stuart: just a snippet. we will see you later. the biden campaign trying to connect with young voters. what are they doing? lauren: paying $80,000 a year to a meme manager but you have to relocate to work at headquarters in delaware. for 85 k, make memes for president biden and have to live in delaware. this is a desperate attempt to
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generate traction for his campaign and enthusiasm where young people are which is on social media whether it is x or instagram or tiktok. i am not savvy on social media platforms but memes are more naturally created. maybe there's experts that can create one but let's go brandon is a meme but it was a mistake that became a meme. it's more of a natural event, don't know if someone creates them. stuart: when you have five wants to go to a presidential election and you are the president and you are behind in a lot of important states, you pull out all the stops with every group of investors moving away from you. the black vote, hispanic vote, you do all that because you are desperate, five months to the election. lauren: i wonder if you risk looking silly. when someone is doing something out of character like you don't expect anyone-year-old to be funny on social media, it could backfire.
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stuart: the ads for obamacare, remember pajama boy? his little pajamas going on healthcare, that did not work. lauren: they are more natural. they just happen. you go with it. stuart: this is a financial program and a political program looking at the money, up 27 points for the dow, right there at 39,000, the dow winners, can we read them off the list? lauren: i know boeing is down sharply again. intel. up 2.3%. stuart: struggling to get said $31 a share. lauren: on nvidia's blowout report. nvidia is where it is. leaving everyone else in the dust. stuart: the winners there.
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lauren: they make sneakers, sales up 20 one%, resonating, stocks of 12%. it has resonated with shoppers. supermicro this week, flat on the week, doubled this year, up 300% in the last 52 weeks. they are up stronger. i'm surprised they are relatively flat. we want how about nasdaq winners? put that on the screen, ross stores on that, constellation energy. i always pronouns that incorrectly. qualcomm and airbnb. elon musk has a bold prediction about ai. what is it? lauren: it will take all of our jobs. probably none of us will have a job. if you want to do a job that's like a hobby, you can do a job,
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otherwise ai and the robots will provide any goods and services you want. working will be optional. he might be right. he might be right. who is going to build and create the ai and the robots unless the ai get so good it builds everything by itself? stuart: ai will allow us more downtime, more time away from work but not necessarily replacing work. i like what i do. thank you. still had california guy steve hylton on how governor gavin newsom's budget could cost billions and higher taxes. sandra smith is here fresh off a trip to paris to see taylor swift. plus, we will hear from madeline brain who spoke at trump's rally in the bronx. jamie has a new book about how ai is going to transform our lives. the 11:00 hour is next.
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>> nowhere in this country that would have allowed this man to continue in the mental state he is. >> that's three strikes and it's time to strike out for president biden and it's time to put donald j. trump back in the white house. >> they're not asking for the world, we're asking for a decent middle class life where we kno

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