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75 ° and sunny. 10:00 eastern, let's get to the money, the dow down 340, nasdaq down 92 points. unitedhealth, a down stock that shaves hundred 70 points off the dow industrials, the 10 year treasury yield is a problem, way above 4.5% causing a lot of the selloff your, the price of oil just backed away from $80 a barrel. bitcoin 67,000 and change, that's the markets, now this. trump hatred is a great motivator of the biden/harris campaign. they are not offering a great vision of america's future, not offering a solution to the great inflation problem, don't have a border policy except let them all in and don't have economic policy other than

spend trillions and grow the debt. that leaves trump hatred. that's why they conjured up the trump trials to portray him as a monster. embarrassing with vivid descriptions of his alleged sexual expert, turn him into a convicted felon and put him in prison. that's a choice the biden white house on the biden justice department made and they did it because they knew they were losing ground on every issue. trump hatred was their ace in the whole, the magic formula the but see the campaign through to victory. it's not working rigid tapping the opposite effect. when they sent robert they niro to the courthouse to make claims about trump they were shooting themselves in the foot, using him they show the world it was a political trial. dinero said trump will destroy new york, destroy america, destroy democracy, that's over-the-top nonsense. a sure sign of desperation. it's not trump destroying america, it's biden, the trump trial is political, it

publicizes the judicial system. this is not america. it to banana republic. second hour of varney just getting started. lose peak on wednesday morning, she's here. ice age trump trial entirely political. what do you say? liz: absolutely in the biden administration pretending it is not, pretending president biden is going to make a comment about the trial after the conclusion is reached, what is that supposed to signal to the american public, yesterday's event with robert they niro showing up at this trial was so ham-fisted and so terrible and to your point what did he do except rave like a lunatic about the apocalypse that is the donald trump second term but remember 2016. we heard these same claims, donald trump is going to start world war iii, donald trump was

going to do everything do terrible, people look at those four years and even with a once in a generation pandemic realizing people were better off, none of the things they talked about came true and when you saw that rally in the bronx, that's what people were talking about, they keep saying this bad stuff but things went well under donald trump. the other problem president biden has, the campaign has, not just that the policies have failed come a that they seem inept and incompetent, they can't move forward on any single issue intelligently, the character of president biden is coming under scrutiny, four years ago we thought he was this benign sort of moderate reasonable person, big smile, no one had anything to terrible to say about president biden. is a vindictive nasty angry old man and robert they niro is the

perfect surrogate. stuart: aunt interesting observation. some headlines, the media increasingly cannot ignore biden's popularity problem. dems in full-blown freak out over biden. the hill, biden's weakness becomes bigger and bigger worry for democrats, newsweek, president biden is the least popular president in 75 years, they can't ignore it any longer. >> 75 years is pretty stunning. that is an accomplishment. he vowed to bring the country together. he's doing that in opposition to everything about him and his administration but i think the end of the day the thing that will sink this president, going to turn people to donald trump is the incompetence of this white house, incompetent to have robert they niro show up, incompetent to have their peer

offshore gaza sink into the water unable to deliver any aid, it is incompetent to spend billions and only produced 6 charging stations as pete buttigieg was factored over on the weekend. they can't shoot straight and i think that's a big problem for this white house, isn't going to get any better in the other thing the media really is ignoring is president biden doesn't know how to get from .80 point be without guidance and help. every day we see clips of him stumbling around, he is confused and that is not going to get better. obviously this is true, he's not going to get younger, there's not going to be a magic drug that makes him capable all of a sudden so i think this is sad. it's incredibly sad the people around him have not determined, made him step aside. that would be the humane thing to do and it is embarrassing. stuart: you cannot reverse age.

you and i are trying but doesn't happen. stuart: thank you very much. police officers who were on capitol hill january 6th campaign for biden in key states which was the message? lauren: trump is a threat to democracy and democrats think that is a winning issue for them. there are surrogates for the campaign raising the alarm about a trump reelection. harry dunn says donald trump and his unhinged quest for power and retribution poses an exit essential threat to our democracy. that message will hit the swing states. but can it swing independents? love democrats say trump is a threat to democracy. do independents agree? stuart: don't think it's a strong issue. >> people say the border and inflation and the economy but for democrats -- stuart: david barnes -- you've got 30 seconds. >> it could be useful issue

politically if donald trump let's it be. by him saying i'm going to run the presidency of retribution but if he comes and says let's put this behind us and move forward, solve problems for the american people, january 6th was an awful day. everybody agrees with that what president biden is doing is undermining democracy with charges and -- this one in new york is the worst, utterly absurd. stuart: one more for you. democrats have a plan, a new plan to help biden get on the ballot in ohio. >> they are going to nominate him virtually, the dnc is august 19th, that's when biden officially becomes the party nominee but the deadline to make the ohio ballot is earlier. it is august 7th. dnc says virtual nomination is the solution in the country will vote on it. stuart: is an embarrassment itself. can't get biden on the ballot in ohio, what's going on?

let's get to the markets, plenty of red ink, dow was close to 300, nasdaq close to 100. the aforementioned david barnessenate here. you don't expect rate cuts until after the election? >> with market pricing and 50% chance of rate cut in september has come down from a one hundred% chance but i don't see why the fed would bother to do accorded point cut which is meaningless and then take the flak over you did a right before the election. it would be a dumb criticism but it would be a criticism. for the sake of optics we want to stay out of it and we are going to begin after the election. blue when you didn't think rate cuts matter. >> certainly not. it's obvious we were assuming 6 rate cuts this year, we are down to two, some believe could be 0. at the most, two in november and december, the market is still up 10%. the whole thing about rate cuts

has made higher volatility but it doesn't make a difference where markets go. stuart: volatility as of now as the 10-year treasury is close to 40.6% producing volatility. >> 10-year treasury reaching 4. 3 to 4. 7 for four months. it itself has become very volatile adding volatility. stuart: stay there please. looking at the movers you've got to start with the airlines. lauren: look at american, down 15%. it will cut its capacity growth in the second half of the year, that is summer, that's christmas and winter holidays sending other airlines down even though names like delta and united are doing better than american. the price target from 17 to 12. stuart: we thought we were in a wonderful holiday travel

season. lauren: the pricing might not be as much for american airlines. >> it is a terrible business, always and forever. stuart: i will never investigate again. faraday future. lauren: is that a terrible business? stocks, $0.84 a share. they pooled their production forecast because of the current market conditions and funding. >> faraday future. stuart: marathon oil, straight up. lauren: up 9% beating the s&p, not last man standing, conocophillips buying it, all stock deal worth $22 billion. conoco wants its reserves in texas. stuart: consolidation in the oil industry. coming up.

nikki haley slammed the biden admin a straight and during her trip to israel and signed a an israeli bomb, a missile with a message finish them. is she making a play to be trump's vice president? a report by un watchdog says iran has increased its stockpile of enriched uranium to near weapons grade levels as iran looks to get economic sanctions on its nuke program lifted. k t mcfarland on that next.

her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

stuart: 45 minutes into the trading session, the dow is down 300, nasdaq coming up nicely, 70 points at this

stage. when we checked big tech, every single one of them was down, apple 91, microsoft, alphabet and meta are down. a report from the un watchdog says iran enriched uranium to near weapons grade levels, economic sanctions of its program lifted. kt mcfarland, is that your worst fear that iran moves closer to a bomb? >> no. if you are a week or 2 away or couple days away they have got them and what has happened is the iranian government has played rope a dope with fear but are -- the biden administration, we want a little more, we want a little more but no matter what the united states agrees to iran keeps building its nuclear weapons, the trump

administration pulled out of the flight iran nuclear deal and bankrupted iran so iran was not able to make bombs but now they let them get there which is a tragedy. stuart: is biden go shooting with iran over the nuke program? are they trying to do a deal, lift sanctions at not produce a much enriched new uranium? are they negotiating this? >> what happened in the last 24 hours is several european countries, europeans want us to get tough on iran, the european countries said we should impose sanctions on iran, the biden administration said don't be too tough iran so maybe they're trying to negotiate but if they are what are they negotiating? iran is effectively going to be a nuclear power and the worry that is not just iran has nuclear weapons and iran can threaten the entire region but other countries in the region have declared, the saudi's have declared if iran gets nuclear weapons we are going to get

nuclear weapons and the difference in the gulf countries in that region is in the good old days you had to home grow a nuclear weapon, build it yourself, enrich your own uranium, make your own missiles but now a lot of countries are rich enough to purchase a nuclear weapon, from the pakistanis or the north koreans. that's the worry. nuclear arms race in the middle east. stuart: is there any chance israel would stop iran's nuclear program? would they step in and fix this? >> if they were going to do it they should have done it a while ago. it will be difficult now and also it's got the gaza war which is not, they are getting how mass and illuminating but they are doing it not as quickly as one would have hoped so maybe if israel comes in and does it but we are in the eleventh hour. what the un watchdog agency has said is iran effectively

anytime a wants can have potentially 3 nuclear weapons. stuart: change of subject. nikki haley slammed biden for slow walking weapons to aid israel. roll tape. >> what america needs to understand, if israel is fighting erin amazed how can we not help them? the sure way to not help israel is to withhold weapons. stuart: haley also signed an israeli artillery shell with her name with finish them on it. sounds like a play for her to be trump's vice president. what do you say? >> we are going to have so much fun leading up to the convention because donald trump is a shaman beyond belief. how do you keep interest? in a campaign which is kind of frozen, trump versus biden, every week there will be a vice president all possibility, this week it is nikki haley.

last week it was tim scott, next week somebody else but he does it deliberately not only to keep people interested in the campaign but to try out, he will float a name to see the general reaction in the next week he will have another name. she understand if she wants a future in politics, she's an ambitious woman. she knows it's donald trump's or publican party and if she wants a future in the republican party she has to figure out how to make up with donald trump. the good thing about donald trump's him a copy my names and have enemies but he can also forgive and move on. stuart: apparently. back to the report this morning, tanks are in the middle of rafah. is biden allowing benjamin netanyahu to finish hamas off? >> we will see. what has not happened is the

full-scale invasion of gaza and rafah. can they do what they need to do? they have the senior leadership of hamas on the loose somewhere. if they can finish them off quickly that will be great but the problem they have is time is running out, militarily, not economically because a few days ago you had three european countries which now recognize the nation of palestine. is on the west bank, is it gaza, the palestinian authority, hamas? other european countries will have domestic political pressure of their own because they have large muslim populations who will want to recognize palestine. stuart: thanks for being with us on an important day, see you again soon. some details on the jury instructions that the judge has given to the jury.

the judge tells the jury will instruct them on the law and spell out elements of charged crimes. the jury will not receive copies of the instructions but can have them read back. the judge will not summarize the evidence but remind the jurors they are judges of facts and promised to be fair jurors. that's what the judge is telling and giving instructions to the jury. coming up. charlemagne laguards is the borders top issue for voters. >> do i think the border is going to be an issue, this is in january, i said yes. all of a sudden msnbc with a headline, spreading amajay messaging. these people aren't amaga, these are everyday working-class person. stuart: got a lot of back lash on that. we have the story. the biden campaign used rubber dinner to make claims about a

second trump president to. in my opinion using him showed the world it was a political trial. the new york post john levine on that next. ♪

stuart: almost one hour into the session we have a lot of rank but not as much as a half an hour ago. we are down 300 on the dow, 60 on the nasdaq. david barnes ason brought a couple of his famous and lucrative starbucks. >> starbucks is down 40% from its high. blue when the yield. >> it has gotten to 3% which more than doubled the s&p's yield and grown the dividend every year and having real troubles with management and we like value. starbucks got an attractive entry of a 3% dividend yield. blue when you think i have a shot at capital gain if the stock price might go up? >> if i ever mention a company

on-air to you, i believe you have a chance at a capital gain. not just dividend growth is going to drive capital gains. companies making more money with shareholders. stuart: it was also waived down, quite nicely since we bought it. there finally getting a little attention to the ai store, great dividend yield growing at 16% per year for 10 years in a row. texas and summons. blue and what is it paying now? >> or getting double digit riff. blue one thank you very much indeed. changing the subject. actor dennis quaid plans to vote for donald trump in november. did he give a reason? >> the lawfair. >> i think i'm going to vote for him in the next election. it just makes sense. i was planning not to vote for

trump until what i saw is more than politics, i see a weaponization of the justice system and a challenge to our constitution that i don't think we are going to have. trump is the most investigated person probably in the history of the world, and they haven't been able to get him. stuart: i think i can -- >> trump won him over. she seeing what is happening in the courts, in all these court cases, not okay with that weaponization. don't see that very often. lauren: he seemed reluctant. >> i am hearing people say the same thing which i have never been one to defend donald trump, he does things that

bother me but this attack turned a lot of people to say they will vote for him. they see it as a violation of due process. stuart: the biden campaign tried, they had actor robert they niro in a press conference outside the courthouse. here's what karl rove had to say. >> what undecided voters moved by what robert they niro said yesterday? if you believe that you are already in the joe biden camp but the undecided voters are unmoved by this apocryphal language, it was an unmitigated disaster. stuart: did he say what i thought he said? john levine is with us. robert they niro said trump is going to destroy democracy, destroy the world. >> all these people raring to vote for trump until they heard the words of robert they niro,

then changed their mind. i want -- wonder what percentage of the voting population that is. and 80-year-old man, wonder if this is elder abuse, who is putting up to this, yc being trotted out by the biden campaign to make speeches. for a lot of viewers who grew up with the deer hunter and goodfellas and taxidriver thomas said to see such an iconic american actor reduced to being a political puppet. stuart: politicized the trial. such an obviously political event, no way around that. >> such a long line, wrote clinton and barbra streisand, they think people care what celebrities think and they don't, does not move the needle at all. stuart: next, squad member, rashida tlaib recently slammed biden's handling of gaza, called him an enabler of genocide. i object to using that word in that way connected to biden or

america or israel. >> it's completely inappropriate. the head of urban warfare studies at west point, reported that israel is conducting this with the fewest civilian casualties, civilians and military casualty ratio that's much better than our campaigns in iraq against isis and those places. a complete distortion, slanderous and all these events in new york, flood new york for gaza, fled san francisco for gaza where they shut down the street, that term flood comes from the name of the terrorist attack in israel that hamas used. every time they say the word flood something for gaza they are making a reference to the terrorist attack were hamas killed 1200 people. they are the ones who celibate genocide and are supporting genocide. it's disgusting they run around and take that language and apply it to israel which is

doing every thing possible to reduce civilian casualties. stuart: where does this lead the democrat party or jewish voters who vote democrat when you've got a member of the democrat party saying you are genocide. >> this is the heart of the contradiction. i said this on the show before. 57% of american muslims have said they believe what hamas did was justified. this is an irreconcilable problem in the coalition because you can't have a coalition where some voters are pro-hamas and then there's everybody else. it's not sustainable and you won't be able to win one without losing the other and you are going to see this explode at the democratic convention where you are going to see echoes of 1960 in chicago and they don't have mayor daley to save them this time. we won thanks for joining us, see you again soon. harvard university says it will no longer comment on matters that don't relate to its core function. lauren: sound like neutrality, the new policy says they won't

make empathy statements about matters outside of education because that can be construed as expressing solidarity with one side. the reason is because of israel. they won't say nothing but they will say less which if you're asking my opinion i think this got them into this mess. member the student groups wrote that letter right after 10-7 and said israel is to blame for these atrocities, it took claudine gate a long time to announce them. the protests popped up, she lost her job, students walked out of graduation. it was a mess. >> this will last 5 to 10 minutes but the core function is indoctrinating people for god hating secular humanism. gives a lot of opportunity, their core function is brainwashing smart people to hate america, hate god, hate

values, hate tradition, hate a conservative mentality. it isn't just israel. was dei before that, they are opposed to free speech, they have become radicals, the most prestigious institution in america and it is a shame. stuart: gavin newsom is in deep financial trouble, governor newsom has been spending big-money, and wants to be the president. top of the hour. elon musk looking to expand in trials, copy wants more patients to enroll. kelly o'grady has more on that next.

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stuart: at the trial, we are hearing more detail about the judge's statements to the trial, it is still ongoing. outside legal experts we've talked to have seen the jury's instructions and they are hard for a layperson to follow, harder for a layperson and some of the lawyers are confused so it's a long and confusing statement. the former short seller using his firm is a piggy bank. what the allegation precisely? lauren: his partner is suing a him for embezzlement. the lawsuit alleges $10 million of company money over a decade used for personal reasons. he sold his company owned apartment in miami for $17.8 million and used his girlfriend as the sales agent

so she made half a million dollars on that and he never paid that money back, responding this lawsuit is puzzling and baseless. stuart: elon musk working to get more support for his $50 billion pay package. lauren: his offering tours for 15 shareholders on june 12th, the day before the shareholders will vote on his pay package kind of like a celebrity meet and greet. if you are a stockholder you screenshot proof you voted, doesn't matter how you voted for or against him getting $50 million. if you are one of the 15 selected you can meet the team that makes it happen, musk himself and tesla's chief designer. stuart: 15 shareholders? lauren: they want them to be wowed by it but the board wants two days, they want tesla to be

reincorporated in texas and get the pay deal approved, musk is their key man, keeter tesla and want him to stay and prioritize tesla. >> it was already approved the. this is the law, the board of directors approved it. it wasn't 56 billion, it was 10% of market grown over $6 billion, 6 million for investors, and in texas. this is terrible for all of us, it undermines law and business. >> elon musk a bit more, his neuro-link, looking to expand his trials and three more participants with brain implant.

what's the latest on this? >> really marrying technology but it's going to be a long trial in regulatory process. expanding three new patients, between 22 to 75, with no mobility for spinal cord injuries. the plan is to monitor them for 72 months, the study is expected to finish in 2021. this comes on the heels of that first human trial, a computer mouse and that impact began to detach which illuminated what the new study looks to address. we spoke with neuro-experts, suffering from spinal cord injuries, this is a paradigm shifting moment.

>> up to the brain, help with restoring vision, speech, various injuries, the tip of the iceberg when it comes to powerful interventions. >> there is no concrete time for this. and it's not going to be because technology is there, because of the revelatory process, that reportedly a thousand people signed up for. stuart: excellent stuff. i find this exciting. it's not the kind of company you would invest in. >> reporter: clients hire us to preserve income. this is a different category of investment, they do it for those that are appropriate. you can lose 100% of your capital and there could be

outsize returns. the ability to enhance quality of life for people who had a terrible accident. apart from the investment. stuart: musk's $56 billion. lauren: he is god the ai company, the list goes on, space x, there shareholders are worried he has things going on, not giving total his focus. >> some might be worried about work/life balance. stuart: thank you very much. former white house staffer went after james carville for his criticism of biden and his campaign. democrats have to run on his trump hatred, that is my opinion. media guy joe concha response to that next. ♪

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stuart: president biden hits the campaign trail as new poll

so he struggled with key demographics in the battleground state of pennsylvania. what do we hear from the president today? >> reporter: we are going to hear his campaign speech and the new initiative which is black voters for biden/harris making a push for the voting block that's important to their base. that group got them elected in 2,020 and belief it will be the group that gets them elected in 2024. black voters are souring on the democrat party, the trump campaign sees that vulnerability rallying thousands of people in the bronx, attendees are very enthusiastic. the crowd was incredibly diverse. back out here live looking at these campaign events in two historically blue and diverse parts of town they are different in other ways come in today's event is more locked

down. what you are taking a look at here were bused in from an off-campus location compared to the bronx where people started showing up, when it comes to the event itself, in a boarding school campus inside. i spoke to multiple people at the bronx event, they are changing party affiliation are voting republican for the first time in november. that change we are seeing show up in polling, the current president leads in key groups but not what it was in 2,020. we talked to voters today who say the policies of the biden/harris administration is why they are showing up to vote for them again in november. >> biden got in office, the best union president ever. i can't say enough about it especially inflation reduction

act that provides good paying union jobs throughout the nation. in pennsylvania, new jersey and delaware. >> reporter: the voters are fired up for biden/harris and excited about the new initiative but the campaign knows and what we are hearing, they do see that slip happening and want to hold on to the majority that was so important in 2020, a key part of the voting block in 2024 this november. come in, joe concha. trump pulled out huge crowds in jersey, today it seems like biden has to bus in people to his meeting in philadelphia. this enthusiasm gap, isn't it? >> madison used the slip as far as black support for biden. in 2020, 91% support for joe biden down 60%, we are talking

one third of black voters gone. when you think of key swing states like georgia, if you lose that much in atlanta or pennsylvania and you lose those numbers in philadelphia or detroit and lose those numbers in michigan this race is over. given what we sow if donald trump in the bronx with the biggest political rally in new jersey history and democrats with a piece in politico saying they are in panic mode over this race, what we are seeing now is nine months polling showing a definitive trend, donald trump leading on average in every swing state and nationally. that was a position he was never in in 2016. another paul from roanoke college, biden and trump tide in virginia. of trump wins this race is over at midnight on election night. overall you have a president who on average can't get one third of voters to vote for him in five swing states he won in

2,020 that being arizona, georgia, michigan, nevada. tell me how president biden wins this race if he's regressing in mental acuity, if inflation remains high, the border remains open and the world feels it is on fire, things have to change on the ground or this is going in a bad direction. stuart: listen to kate beningfield, roll it. >> let's hear your thoughts if you want to see democrat to be successful, what are your thoughts? >> everybody has a right to criticize, jim carville has to meant is political experience which i welcome his thoughts on what democrats should be doing better. i am not sure shouting get off my lawn is helpful. stuart: the problem in my opinion biden and the democrats have nothing to run on but trump hatred.

what say you? >> look at polls, he's underwater on inflation, crime, foreign policy, you name it, nothing to point to and say we are doing a good job. carville is right. is known the 19 nineties a presidential campaign, it's of the economy, stupid, others in the biden administration saying what you're feeling and seeing isn't real and the economy is doing well in the border is only not secure because donald trump, that disconnect continues donald trump is your 47th president. stuart: thanks for joining us, see you again soon. thank you to david barneson. kevin o'leary on the fed president claiming rate hikes are not off the table. mike waltz on a report claiming the administration doesn't want our allies to confront iran on the nuclear program. the 11:00 hour of "varney and

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