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tv   Varney Company  FOX Business  May 30, 2024 9:00am-10:00am EDT

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maria: welcome back. puppies in the house, and suzanne, tell us about foster care because it's good to have someone foster the dog before you actually take it in. that's what happened with dusty. >> absolutely. not everyone is ready to have a pet permanently, but you can make a huge difference by fostering a pet. it could be a large dog, a senior dog, puppies, kittens, cats. really fostering saves lives. s just 2% of existing households fostered a pet, we would end euthanasia in our shelters. maria: this sunday, union square park for the 25-year anniversary. guys, thank you so much. great show. how do you like holding a little babiesome. >> she's great. maria: so sweet. 30 minutes before the opening bell, i'll see you tomorrow. "varney & company" picks it up. stuart: good morning, maria. good morning, everyone. the trump trial is historic. the world is waiting for a
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verdict. jurors deliberated for about four hours wednesday afternoon. they asked to rehear the testimony of michael cohen and david pecker. they pick up again about a half hour from now. throughout the deliberations, donald trump must stay in the courthouse. that effectively keeps him off the campaign trail. the president, well, he's got a light schedule. he returns to the white house briefly tomorrow to meet the kansas city chiefs. will taylor swift be there? then he returns to his beach house for the weekend. let's get to the market. more selling today led by salesforce. they didn't bring in as a much money as expected, worse, they a cut their outlook for revenue from subscriptions. the stock's down 16%. and that drop, well, sales season force is a dow stock is, and that, salesforce, that one stock is taking 306 points off the dow. so if it wasn't for salesforce, the cow would be dead flat -- the dow would be dead flat. if news that a second is reading of gdp shows a growth rate of
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1.3, no obvious impact from that. the dow, as we showed you, down 300 at this point. interest rates, they're another big concern. the yield on the 10-year treasury is close now to 4.6%. the 2-year getting ever closer to 5 percent. you're looking at 4.94 right now. bitcoin, $67,000, have i got that right? 68 and change. oil, just below $80 a barrel, $78.72. gas down one cent, $3.56 for regular. diesel, no change, $3.87. politics. biden launches a new campaign to shore up support among black voters. ing the polls show he's dropped 19 points against trump since 2020 among those black voters. now he's targeting black audiences, and tim scott -- a trump supporter -- says he's pandering. with theth president's light schedule, the first lady is out campaigning for him. she says trump, quote, can't put a sentence together. how about that.
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on the show today, much more on the trump trial. what happens if there's an acquittal a, what happens if there's a hung jury, what happens if trump is convicted. election, by the way, is 159 days away. we'll have doug burgum with us here in new york city. the "wall street journal" describes him as a rich, loyal and good looking, so is he trump's vice president? it is thursday, may 30th. my, time flies. 2024. "varney & company" is about to begin. ♪ ♪ i'll be there with a love that that will shelter you. ♪ if muck. stuart: i'll be there. i'm not sure of the relevance of that particular song to the ooh news of the day. >> we are here. the varney community, "varney & company" and everybody else, you know, we're all part of it, stuart. stuart: my co-anchor,.
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adam: am johnson. >> oh, for crying out -- it's the community. stuart: and we will not leave out lauren. she's here as a well. we're all set to go. futures pointing south, down 3000 for the dow, nasdaq down 300 for the dow. adam a, this is a sell off. does it last? >> no, i don't think it does. there are three things we can say, the economy is stronger than we think. that's number one and the most important. number two, i will admit and i'm a bull, valuation valuations getting a little high, fair enough. and point number three, you're either nvidia and a.i., or you're everything else. that's where all the money is going right now, and it makes for a slightly unstable market. yet again, with an economy stronger than we think, i'm okay with it. stuart: okay, stay with with us for the hour. about 30 minutes from now jury dlexes will resume in trump's new york criminal trial. lydia health care u outside the courthouse for us -- lydia hu outside the courthouse for us.
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take us through the day. >> reporter: good morning, stuart. right now we are waiting for president trump to arrive here at court. the proceedings will get started around a 9:30 this morning, and right off the top we expect judge juan merchan to address those two notes that the jury sent to the court yesterday. one of those notes requested that testimony be read back. they are the interested in hearing about david pecker's testimony and michael cohen's testimony on this alleged so-called catch and kill scheme. this is the agreement that prosecutors allege a had developed in 2015 where david perk, the other than of the national inquirer -- david pecker -- offered to be the eyes and ears for the trump campaign. it's hard to know why jurors want to know more about that a particular testimony, but one possibility is perhaps they are ea a accessing the veracity and the credibility of michael cohen's account, determining whether they can accept any of his testimony at all. the other note that was sent, stuart, was a request to hear the jury instructions read a
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back. and the reason why they might be asking for that is there's an unusual instruction the provided by the judge. ordinarily in criminal chases -- cases, jurors have to be unanimous on all the elements of the charges in order to convict or acquit a defendant, but there's a portion of judge juan merchan's instructions that that that allow them to not be unanimous as to what the unlawful means allegedly were used to influence this election in 2015. perhaps they want to hear that a read again to make sure they're crystal clear on that. of course, legal experts say that particular instruction the makes this case ripe for appellate review. but before we even get to talk about an appeal, we're first on verdict watch, and that is what we are doing today here. all of that starting at 9:30, stuart. stuart: 25 minutes from now. thanks very much, lydia. back to you later. former cbs anchor katie couric says donald trump has an edge right now, if she says he's
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gaining momentum despite his ongoing legal troubles. sean duffy's with me this morning. do you think trump is gaining momentum if because of this trial? >> listen, stuart, i do. first of all, because here's cao a blackout of donald trump. he hasn't got a lot of coverage a like he did in 2016 or while he was president, but this trial has put him on the front page of every paper but also all networks have covered his press conferences after the trial. and he's getting his message out. all of those issues have played to his benefit because he's highlighting joe biden's failure. all in all, i think this trial eventually -- you mentioned we're 159 day, i think ors, from election day. time heals all wounds. if he's convicted, immediately there might be some people who want to leave donald trump, but i think this trial will fade and the economy, inflation, the border will still rise to the
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top. if he's acquitted or there's a hung jury, i think that's going to be a bump for trump. stuart on the left-hand side of the screen, we have trump actually going to the courthouse as of right now. he may speak before 9:30. if he does, we'll be following it for you. next one, sean, i want to talk about democratic strategist doug schoen. he's slamming the administration for refusing to accept help from outside advisers. watch this. from >> the white house is uniquely tone deaf and and and not listening to not only me, but to democratic insiders who have been in past campaigns. there's a near total freezeout on outside advice to the detriment of joe biden and and kamala harris. no message on inflation, they have no message on the southern border. all that they appear to do is demonize ooh donald trump and talk about their statistical record of accomplishment. and everything i see in my polls
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and every other poll, steve, says it just isn't working. stuart: what do you say to that, sean? all biden has is trump hatred theful they've got nothing else. that's all they've got to run on, do you agree with that? >> it's going to be trump hatred, heir going to try to make abortion with an issue again. but there's a lot of smart people in the democrat party from the clinton and obama eras. and and when you have a failing campaign like joe biden's, things aren't going well for them, you try to pull in as a candidate all the smartest minds that you can to get the best advice, possible possible and then make decisions from there. but it does appear there's an ice-out because joe biden keeps doubling down on the same -- we're actually talking about bidenomics still? people hate bidenomics. they hate this economy. they're voting against joe biden because of bidenomics, and he still talks about a it means he's not listening to other smart people that might say, joe, listen, people are angry about the economy. tell 'em how you're going to fix
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it, what your policies are to improve their pockbookings. that's not -- pocketbookings. that's not what they're doing. they're doubling down on the fails policy -- failed policies, and it does seem doug schoen is correct. but for donald trump, that's great news. it's not working, keep doing more of the same, joe. can i say one last thing -- stuart: go. >> before you with let me go, you mentioned doug burgum was rich, loyal and good looking, i thought that was a quote for stuart varney himself. rich, loyal and especially good looking. stuart: come on, sean. you can come on this show. you don't have to flat or me, for heaven sake. get out of here. >> it's true. [laughter] stuart: i'm also very old. sean, see you later. this is something of a shock. a new poll shows president biden and donald trump tied in one very deep blue state. okay, which state? lauren: virginia. the state that biden won by 10 percentage points back in 202020, it is in play -- 2020.
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a poll has biden and trump tied at 42. trump's popularity is putting biden on defense in states that were once reliably blue. add a minnesota to that, add new jersey to that. biden now will have to shift his campaign resource pros and money and attention -- resources, money and attention. stuart: he's got to spread if it around more, and he hasn't a got that much to spread around. thanks, lauren. better check futures. this is thursday morning. going into the show -- i'm sorry, the opening bell, we're down 3000 points for the dow -- 300 but 306 is accounted for by salesforce. next, here's that headline from the "wall street journal" -- lauren: we are obsessed with this today. i haven't said a word about rich, loyal and -- stuart: i didn't want to bring it up. the journal headline, rich, loyal and good looking, why little-known doug burgum is in trump's vp mix. what would governor doug burgum
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bring to the mix as a business guy? that's very important. he's a self-made business guy, that brings something to the ticket. >> yeah. that's called credibility, and that gets to american ingenuity, spirit and know how. i like that. stuart: the governor is in the 10:00 hour, by the way. president biden plans to continue his spending spree. government spending on this trillion dollar scale, is it inflationary? if peter morici deals with that. peter's next. ♪ the good old days, the honest man -- ♪ if restless heart, the fronted land. ♪ the subtle kiss no one sees ♪
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stuart: president biden touting investments that some economists say are inflation their. edward lawrence at the white house. how much money is the president planning to spend? because if it's a lot of money, that could be inflationary. >> reporter: right, exactly. and he's spent plenty, billions more going forward. the president's trying to say that all of the government spending he signed into law did not push inflation while also saying the stimulus checks helped consumers with their spending power especially in the black community. >> when kamala and i came to office with the help of the cbc, passed legislation that delivered more checks into the pockets of million americans including black americans, $140000 -- 1400 checks and $300 per family, per child which cut child poverty in half for black families. >> reporter: the president also highlighting that because of the money he spent in
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paychecks for americans are bigger, which is true, but wiped out due to inflation. real wages are actually down from the month president biden took office 2.7%. >> they are not happy with bidenomics and for good reason. although e people's a paychecks are larger today, they buy less. just look at the average american. his or her paycheck is $150 largerred today, but that weekly paycheck buys $50 less compared to january of 2021. >> reporter: so the white house highlighting even more spending as a wave of announcements over the past two with weeks related to the president's clean energy agenda. today they'll host small business owners and entrepreneur to talk about access to the mountain of government mustn't money set aside for energy transition projects. the treasury department also a released guidelines related to -- stuart: edward, i'm sorry, we have the interrupt you, donald trump is at the courthouse, and
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believe he's about to speak. >> -- about this ridiculous case that's hurting our country so badly. some of the reviews from yesterday are -- and, by the way, everyone's against this case. i haven't seen one legal scholar or expert in the law say that this case should have been filed. it should not have been filed, or at a minimum it should have been filed seven years ago. seven years old. everybody turned it down including federal elections turned it down, southern district turned it down. bragg turned it down, then he rejuvenated it when i was running for office. terrible thing. at the request with of biden. the editors of the national review say acquit trump. bragg has failed to prove his charges. totally failed. gregg jarrett,, who exactly was defrauded? voters who had already voted, well, they already voted because all of this stuff came in after the election, so how were they
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defrauded? and seven -- then you say what about hillary with the dossier? what about all the other things that go, and this is nothing, this is nothing. but what about all of the corruption, the voter fraud if that you've seen over the last year on behalf of the democrats and nobody talks about it? this is ridiculous, what they're talking about. this is called running for office. gregg jarrett, the government -- which receiving pull payment in all taxable income -- by the way, the government received pull payment. taxes were paid in full. in fact, they made comment on that. even though the taxes were paid in full, the federal elections commission that concluded the money paid did not constitute a campaign contribution under the law. and remember, this judge wouldn't allow us -- he's a very conflicted judge, everybody knows that that. you don't want to talk about what the conflict was, i'm not allowed to talk about it because of a gag order that he put on
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me. [inaudible] there was no fraud, there was no conspiracy. it's that simple. moreover, without a primary crime there can be no secondary crime. there's a classic lawfare, weaponizing statutes because the law's -- [inaudible] if because no law has been broken. that was gregg jarrett. ellie hoenig, legal analyst for cnn, the crime here is not easy to explain or understand. it's just not understandable. in other words, there is no crime. this is cnn. katherine case chan -- christian from msnbc, i call it msdnc, legal analyst. it's difficult because it's a very nuanced argument. it's never if been prosecuted before. this is an argument that has never been prosecuted before. and hopefully, it'll never be prosecuted again. andy mccarthy, this is anything but standard. it's the antithesis of standard,
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actually. the idea that they do not have to agree on what the other crime is. we spent six weeks wondering what is the other crime, what is the other crime? and at the end, the thud we all get is this. there's three or four of them, and you can pick one from the other, and they don't is have the agree on anything. and what he's saying is it's so corrupt, nobody's ever heard of a thing like this. it's called pick 'em. it's like the lottery, pick 'em. you pick 'em. in a criminal case you have to be unanimous, you don't have to be. give a couple of those. the judge, unfortunately, is corrupt. judge jeanine pirro, it's like column a, b or c, you don't have to agree on it. this is a kangaroo court. this is unheard of. i've never seen anything like it. aye done this for 322 years.
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i'm not a -- 32 years. i'm a county judge just like merchan. this is the new york law. this is my wheelhouse. he is 100% wrong. he's wrong, is what jeanine pirro, good woman, very smart woman. jonathan turley, this is becoming a3-card monty game on where is the crime. if smart guy. where is the crime? if mike if davis, the u.s. woul- [inaudible] if a country for doing this. think that's good. steve hilton. it seems every single day these proceedings go on, the judge and the prosecutor just go out of their way to prove trump's point. and i guess he is -- they are proving my point when you think -- that's why i read some of these things that are very sad. mark levin, this stalinist-like case has has prevented president trump from running for office. it has prevented him from if campaigning.
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he's unable to campaign because he's been in a courthouse for five weeks, and yet we just had a poll came out, npr. trump's 554, biden's 42. and that's with independents. that's the best we've ever had. this is the single best poll trump has ever had with independents. trump's largest lead among independent voters. npr, maris. and junior is way down, way, way down. but it's 44 -- junior is extremely liberal, by the way, extremely radical left. i think you know that. but he seems to be hurting biden probably a little bit. so that's it. it's a disgrace. the millions and millions of dollars that are spent daily on this case, outside it looks like it's fort knox. they're guarding -- i've never seen so many policemen. now, with columbia university you can plant aen tent right in front of the door, no problem.
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nyu, don't worry about a it. over here -- but i just want to say this is a very sad day for america. the whole world is watching, and it's a very sad day for new york. i've gone through two of these trials already with the same kind of a judge. it's all rigged. the whole thing, the whole system is rigged. judge engeron was overturned five times in my case, and he's going to be overturned again. and we were treated very, very badly. and the outside world is watching, and the outside world is just not going to bring their business to new york. and that's going to cost the city trillions and the state trillions and trillions of dollars. businesses are leaving. and people are freeing -- fleeing. you can see the quotes yourself, and thank you all very much. we'll comment if later on in the evening, but it looks like we'll be here a long time. thank you. stuart: there you have it, donald trump speaking just as a he's about to enter the courtroom. the proceedings start at 9:30. mr. trump must be in the
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courtroom, the courthouse, by that time. so he left after about a 5 a, 6-minute presentation right there. as you heard, he denounced the case. he said it is ridiculous, and he's not seen any if expert or legal expert if or anybody who who knows anything about the law who thinks this should have been filed in the first place. he says, look, this is a political trial. it's designed to keep me off the campaign. it's a disgrace. the trial is rigged, and it's going to cost new york trillions of dollars, those are his words, trillions of dollars because of the reputation which the new york legal system has now acquired. that's what he just said. what do you make of it, lauren? lauren: i like the way he talks. i wrote down the menu of charges that the jury that to -- has to choose from, and they don't even have to agree on the charge. he called that pick 'em, like the lotto. like, what kind of trial is it when you can pick the crime that you might if think someone is guilty of? by the way, this is state law, so he cannot pardon himself.
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i've heard a lot of people say, well, if he's reelected, he can pardon himself. no if, he can't. it's a state case. stuart: adam, you cover the financial markets for us, give us the technology angle on what you just heard. >> i'll tell you what's fascinating, i liked what i just heard. he was strong, he was focused, he's the best extemp rain gross politician i've ever heard. no one speaks as well as donald trump. to your question what does it mean for the markets, morgan stanley has created a gop wins basket and a dem wins basket and, guess what? the gop basket has been beating the dem basket for months, so the market by definition is telling us mr. trump wins. stuart: okay. trump is now in the courtroom. proceeding start again in about three and a half minutes' time. let's move over to the market this morning. futures suggest a 300-point drop for the dow industrials, most of that is taken up by salesforce
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which is down sharply, and it is a dow stock. d.r. barton's with us this miles an hour being. i know you've got a couple of stock picks, d.r., but i want the start with progress i corporation, insurance company. you like that stock finish progressive. are they the guys with the funny if commercials? >> they do have the funny potentials, stuart, you're spot on there. and they had been making really great inroads with the younger demographic. and that's rah really strong. they throw off a really big dividend, something that i like. they're on a pullback, something else that i always like. and they're already up strong for the year. i think insurance and the inflation that we've seen in insurance is going to keep pushing those earnings up for all of those insurance companies, and this is a good one to watch. stuart: okay. train technologies. that's your other thing. i've never heard of them. what do they do? >> yeah. they do a lot of hvac and other
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types of stuff that hurts if you would drop it on your foot. they make real stuff, stuart. we talked about a investing in the real world many times. another one that e i like, another stock on a pullback that's already up strong and i think we're going to be spending a lot more on revamping the very things they make on refurb ifishing and upgrading houses and businesses with their technology. stuart: okay. d.r. barton, thanks for joining us this morning. we've got about 90 seconds to go before we open this market, and i want to look at the background here. the dow is down 300 points. that's futures -- lauren: it's 4% from a record close, that's it, 4% away from an all-time closing level. stuart: i just want to bring adam back. you think that the selling in salesforce is overdone. >> way overdone. the stock is down because the
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revenue if was slightly less than expected. about a 1. and then they guided down revenue going forward by another 1 is 1%, but they guided up earnings by 2%. they're going to make more profits. so actually the valuation is cheaper. it's trading at about 27 times earnings, it's growing at 20%, and it's down 15%? doesn't make any sense. stuart: this is the algorithm. s. >> yeah. stuart: they issue the report, the computer pick up on a couple of words, boom, sell or buy, and you've got this over-- i think it's overblown because of the algorithms. >> i think you're exactly right, stuart. in other words, computers are programmed to look for one negative item on a press release, and if they do it -- see it, they take the it can down 15%, and smart people say, hang on, it's not that a bad. buy the stock. stuart: got it. the market is about to open. 3, 2, 11, boom, it's open -- 1. let's see how we open the averages, and salesforce. we'll be checking that
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carefully. the dow is down 369 points, almost 1% right from the opening bell there. look at that. there's the dow 30. a majority of them are buyers. they're bought, they're in the green. they're going up. it's a minority that's going down. despite the fact that you've got the dow off3 60 points. salesforce bottom right-hand corner, down 16%. that's the dow. look at the s&p 500, also opening lower, about a quarter percent, that's all you've got on the downside there. how about the nasdaq composite? down about a quarter percent, 16,880. gotta show you big tech. we always do at this time. apple up, 191 is 1. but amazon, meta, alphabet and microsoft, all of them down. let's get back to salesforce. let's get back to the numbers on the salesforce report. down 17% now. what was in the report? lauren: can i offer a different take? this is all artificial intelligence promise but no a.i. growth, and met me offer proof.
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salesforce sells software that uses a.i. to summarize customer service cases, business meetings, etc. just one quarter of its sales in the quarter included those a.i. features. that was the same as a year ago, a quarter. no growth. a.i. promise, you can speak all fluffy on it like marc benioff did on the call, but where's the monetization? so when you look at overall sales, not only is the first revenue miss since 2006, but they're forecasting their slowest ever sales growth for this current quarter, and they're shaving 330 points off the dow. so the tow is negative because of salesforce. >> a.i. is still a work in progress. look at chatgpt. not everything they come out with. >> is accurate. clients should not be with expected to say, oh, sure, we'll embrace this a.i. thing. they've still figuring it out. they're still training the machines, so i'm okay with a.i.-related revenues not
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growing with as fast. story stuart i've got to jump in for a second. are you going to buy it at $2321 per -- 221 for your fund? >> yes. stuart: you are? you're buying this dip? >> palo alto networks had the same issue 2-3 weeks ago. the stock was down 16%, and it's come back half that way. now it's down only 8% from where it had been, and think the same thing the will happen with salesforce. smart people say, wait a minute, it's not as a bad as we thought, and they even guided up the earnings. stuart: okay. earnings reports before the bell this morning including best buy with. man, they must have been doing good. lauren: no. 10 straight quarters of falling sales, down 6% in the last quarter, why is the stock up double digits? they reaffirmed the full-year outlook, they didn't cut, and they expect sales of a.i. laptops and higher-end tvs, her growing and expect them to continue to grow. that's a win-win. they're profiting from a.i. stuart: dollar general. they were out this morning.
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and i bet they're up -- not that much, opinion 85%. lauren: traffic rose 12%. customers are flock ifing there because they sell cheaper essentials. they did mention shrink in the report, and that is pressuring margins. they fell a full percentage point in the quarter to 30% because people are still going in and stealing stuff from the dollar store. stuart: yeah. >> so upsetting. stuart: is sure it is. nothing's done about it. >> no, i know. stuart: you can close the store. >> because there are d.a.s like alvin bragg who won't press charges for stealing anything under $7500. that's crazy -- 7500. it erodes the fabric of this cup. we need to get rid of those d.a.s. stuart: all right, adam. and then we have kohl's, i think they're tanking this morning. yes, they are. lauren: losing a quarter of their value today. they cut their full-year profit and revenue expectations after reporting a surprise quarterly loss. look, you go into kohl's, it's a lower end department store. they have lots of deals and
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coupons. so you would think it would be like a dollar stores people would flock there for a discount, but they sell lo of clothes and shoes. those discretionary if items aren't selling well because the low-end customer is struggling to stretch their budgets. stuart: imagine losing a quarter of your value in one day just like that. >> well, you nailed it earlier, you said it's the algos, stuart. stuart: could well be. walgreens, they're the latest company to announce they're cutting prices on thousands of items. a bit like target a couple of months ago. okay, which items? lauren: basics. vitamins. think of the k-shaped recovery. the high-end consumer, the top of the k, they're doing just fine. it's the bottom part of the k that is struggling to stretch the budgets because everything costs so much cumulatively since covid. stuart: and they're cutting prices at a wall green's, got it. amazon, they've expanded their deal with grubhub. what are they doing? lauren: side note, amazon at
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their grocery stores are cutting prices on 4,000 items. just wanted to add that in. amazon prime members can order food from grubhub on amazon.com and the amazon app. gives you another reason to spend $140 a year on the prime membership. and for the most part, there won't be extra delivery fees if you're an amazon prime member. also the faa has approved that amazon drones can fly further, beyond the visual line of sight. so eventually, yeah, we're going to be getting our amazon orders via drone. stuart: i look forward to it. we've already had one stock pick from adam johnson, and that was salesforce. he has others including 3m. you like it. >> i think it's finally safe to buy3 m again after four years of trading lower and lower and lower. the they finally resolved the two lawsuits, selling ear plugs that were faulty to the military. they paid $6 billion to settle that. i mean, it's been on and on and on, stuart. and finally, they seem to have
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gotten through this whole thing. they have spun off the health care division that was producing the forever chemicals. that was another $10 billion settlement. and now finally with that all bemind, i think they've able to focus on the industrial business, trading at a call it 14 times earnings with a 3% dividend yield. stuart: take it. eog resources. >> i get asked over and over what is the single best energy company to buy and that's it. eog resources. you're looking at it on the screen. the best acreage, the best balance sheet, the best technology. i like it under 110 and i sell it at 150. you have to range trade it because oil is a range trade, but buy when it gets down to 110. stuart: got it. adam, thanks very much, indeed. first lady jill biden says donald trump cannot put a sentence together. really? if watch. >> my husband's -- and you're going to see how smart he is and the expoarns if he has, and then
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you'll see somebody who, like you're saying, i'm going to use julie's words, can't put a sentence together. finish. stuart: has has she listened to her husband recently? i'm being facetious. we're on this one, bereave me. the "wall street journal" says elon musk and donald trump talk on the phone several times each month. could musk have a role in a future trump administration? the new york trial is damaging the country. roll tape. >> -- damaging the american legal system -- [inaudible conversations] >> -- one thing to say you agree with, we love to take care of the people, we love people. stuart: okay. congresswoman claudia tenney, she's an attorney, how would she characterize the trial? claudia tenney is next. ♪ ♪
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stuart: 12 minutes in, still red ink. the dow is off 303, jury deliberations resuming in trump's new york criminal trial. c.b. cotton's with me now. break down what trump's a appeal process would be, c.b., if he were convicted. >> reporter: hi, stu. former president donald trump would have 30 days to file an appeal, and legal experts say trump's team would likely waste no time in filing one. the appeal would go first to new york's appellate division where trump's legal team would likely request a stay of any sentence such as jail time until the appeals process plays out. it would be entirely up to an appellate judge on whether that the request is granted. but fox news contributor and george washington law school professor jonathan turley says if there's a conviction, the judge may take into consideration that trump is a former president. >> he's under the control and constant supervision of the
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secret service. there's no need to have home confinement or restrictions pending any sentencing, and he's going to immediately appeal anyway. >> reporter: as for the grounds which trump's team could appeal to have the conviction overturned if there is one, one of the theories which has been discussed by fox legal experts is for trump's lawyers to argue that testimony from adult film star stormy daniels was prejudicial. during the trial trump's lawyer said daniels' recounting of an alleged sexual encounter with the former president had, quote, nothing to do with this case. during daniels' testimony, trump's lawyers also called twice for a mistrial but were denied by judge juan her chain -- juan merchan. also on the grounds of a novel legal strategy, trump is charged with 34 counts of falsifying business with record, we've been talking about this, and this charge is typically a misdemeanor under new york state
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law. but prosecutors here allege those records covered up a second crime, the violation of a state the election law which forbids a conspiracy to aid an election by, quote, unlawful means. this appeals process could take months or even longer and likely would not be completed before the november election9. stu, just last week the new york appellate division upheld judge juan merchan's decision to not recuse himself from this case. back to you. stuart: we got it, thanks very much, indeed. trump's supporters standing outside the new york courthouse have been blasting this ongoing trial. ing watch this. >> this is damaging the american legal system -- [inaudible conversations] >> listen, on this level -- [inaudible] >> never mind trump, it's damaging the country. >> you know, i was a democrat, you know? but, you know, i had to research and start seeing things, and i started to come to --
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[inaudible] and said, nah, this guy, trump, you don't have to agree with him on everything, but one thing he say you do agree with, he love the take care of the people, he love people. stuart: all right. we're joined by congresswoman claudia tenney there from upstate new york. you're an attorney. does this trial damage the reputation of new york's judicial system? >> not only new york's judicial system, it is the a indictment of of the system when we are allowing people like alvin bragg and this judge to carry on as they are. look, i'm admitted to the new york bar and a couple other bars. i am also -- my father was a new york state supreme court justice for 35 years, and he served in new york city much of the time when they were retating in the old days -- rotating. this is just, it's just outrageous. remember the mission here, stuart. this is no longer about justice. this is about getting a conviction. and what i'm worried about is they just want a conviction no matter what. they've got to get that conviction because it's all
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about politics and if about a election interference and being able to call donald trump a criminal, to be able to continue to put him, you know, really just to prevent him from campaigning and just continue to put him through these hoops because he's winning the election. and because he resonates with the american people. sadly for the democrats, the more they do this, the more people who aren't necessarily trump supporters see what they're doing, and i think it's actually backfiring on them, but still it's, it's a disaster for our legal system. and when you talk about appeals, the second department actually turning down this appeal and then the court of appeals, we faced this judge in our redistricting decision, and this judge, they bullied out the democrats in new york, they bullied out the chief justice of the new york court of appeals, a once-venerable court, and they put in a guy from new york city who actually is from california who actually wrote about giving
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habeas corpus rights to an elephant at the bronx zoo. this is the type of justice system we have. it is a joke, and it is an embarrassment to our system. and it is also dangerous when other countries and other people see what we're doing. it doesn't matter if it's donald trump. justice should be blind, and we're not if seeing that here. stuart: i've got 30 seconds left. you've described the judge as, the judge's behavior as appalling. give me 30 seconds on why judge merchan is,es that behaved appallingly. >> he has complete -- i mean, all the objections that he sustained by the defense, his conflict of interest with the interest that his family has, these are all a -- he should have recused himself from day one. s he is politically motivate ised. this is just another, you know, attempt to take down president trump. he's totally political which is exactly what a judge should not be. he's taken an oath of office. he's violating that. he should be removed as a justice or at least censure ised. stuart: thanks very much for
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jumping in today. we'll be back to you in the near future. we're getting some information from inside the courthouse today. the jury has asked for another note. that will make it the third note. the jury's asking for instructions. the instructions from the judge all over again. our legal experts in the overflow room say this is, and i'm quoting now, absolutely nuts, that the jury isn't allowed to have a copy of the instructions. the jury is now entering the courtroom. looks like this is going to go on for a long time because if they have to keep on asking for a rereading of the judge's instructions, this is going to take a very long time. adam, why do you think that the longer this goes on, the longer the jury deliberates, the better it is for trump in. >> well, because they obviously are having difficulty understanding what the charges are in the first place. they're saying, wait, what's going on here? what happened? what are we trying to do?
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the they're confusedded. if they were certain, number one or, number two, if they hated trump and just wanted to convict him, they'd have done that yesterday, day one. the fact that it's going on is, i think, very positive for mr. trump. stuart: all right. thank you, adam. the charges against scottie scheffler have been dismissed, but the police officer involved with the arrest is sticking by with his story. the full story, the full report next. but i'm staying focused. and doing more to prevent recurrence. verzenio is specifically for hr-positive, her2-negative, node-positive early breast cancer with a high chance of returning, as determined by your doctor when added to hormone therapy. verzenio reduces the risk of recurrence versus hormone therapy alone. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection
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stuart: earlier this month scottie scheffler, the golfer, was arrested for an incident during the pga championship. those criminal charges have now been dropped. garrett tenney is with us. take us through it. what happened, garrett? >> reporter: well, stu, prosecutors spent almost two weeks investigating what happened, interviewing witnesses and gathering evidence, and ultimately, they said the evidence backed up what scottie scheffler has said all along, that this was all a big misunderstanding in the mudst of a chaotic -- midst of a chaotic situation. some of that the evidence included this leagued body camera video showing scheffler after an officer tried to stop him from pulling up to the entrance of the valhalla golf club. here's scheffler explaining why he didn't stop. >> first of all, i did not know a this that he was a police officer, i thought he was one of those security or guards.
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i was mistakeen. as i was pulling by, he grabbed -- [inaudible] and as he was reaching in the car, he grabbed my shoulder and hit me. >> trying to get you to stop, right? >> yes. it seemed to be a little bit overaggressive because the entrance was open. >> reporter: scheffler was facing multiple charges including felony assault of a police officer. now his record will be expunged and in an instagram post, he said in part i hold no ill will towards officer gillis. i wish to move on, and i hope he will do the same. police officers have a difficult job, and i hold them in high regardful this was a severe miscommunication in a chaotic situation. the officer involved, brian gillis, says he also wants to move on, holds no ill will towards scheffler and wishes him and his family well. stu? stout stuart garrett, thanks very much, indeed. i want the take another look at salesforce. way, way down this morning. it's shaving 353 points off the
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dow. in other words, without salesforce, the dow would actually be positive. adam johnson still with me. >> yeah. stuart: tell me again why you think this selloff in salesforce is overdone. >> it's a crazy overreaction, stuart, because the company actually raised guidance for earnings. by 2 percentage points. so the fact that they missed revenues by 1%, a single percentage point, and they guided down revenues by about 1%. it's crazy because, again, they raised their earnings guidance. this is just about the timing of how they're booking revenues for some of their clients. it's crazy. stuart: let's see what happens by the end of the day. thanks for joining us, by the way. still ahead, governor doug burgum and what he'd bring to the table as trump's vice president. boston globe's -- on boston's democrat mayor claiming criminals should not be prosecuted for theft. leo terrell on biden promising to put racial equality at the center of everything if he's
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reelected. congressman darrell issa on 52,000 special interest rail yens apprehended at -- aliens apprehended at the border since october. what's that all about? the 10:00 hour is next. ♪ so am i wrong for thinking that we could be something for real? ♪ now, am i wrong ♪ .. (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions,
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from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go.
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