♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ maria: welcome back. 30 minutes before the opening bell on wall street for a friday, markets right now are higher. dow industrials up 75. i want to the thank this fantastic panel, kellyanne conway and kevin to to leery -- kevin to leery, "varney & company" picks it up.

stuart: the verdicts are in, the reaction is or furious. republicans angry at what they see as judicial corruption. democrats celebrating. they think they've won. no statement yet from the president. he will be hosting the kansas city chiefs at the white house before heading back to the beach later on today. no rest for trump. he will hold a press conference at 11 eastern. we will take it. this is a world of political turmoil p. the trump campaign has brought in millions of dollars in the last are few hours. the fund raising web site briefly crashed. some questions here. how will voters react to the guilty verdicts? could trump actually be sentenced to jail? will the verdicts be thrown out on appeal if, and if so, when? no answers yet, but we can tell you the reaction of the financial markets. in a word, it's muted response to the verdicts, but it's very positive on the latest inflation numbers that came out around 8:30 eastern this morning. the index that the fed if pays attention to shows a 2.7

inflation rate over the last year. the verdicts came down after the market closed, futures at first plunged but now the dow has recovered to the upside, a gain of 700 points at the opening bell -- 700. up -- 70. same story with the other market. a muted reaction to the verdicts but a positive reaction to the inflation news. the 01-year treasury yield coming down to 4.5 a 11. the 2-year still well below 5%, it's down to 4.91%. bitcoin, not much change, $68,600. oil still below $80 a barrel, $78.33. gas down one cent, $3.55 is the national average for regular. diesel, no change at $3.87. rt all right, politics. a maris poll shows 15 would be more likely to vote -- 15% -- if he's found guilty. 17 say they're less likely to vote for him. the poll, however, was taken before the verdicts came down.

on the show today, this is going to be must-see tv, trump's press conference at 11 eastern. there will be questions x he will no doubt answer them all as he usually does. you will see it all on this friday, may 31stst, 2024. "varney & company" is about to begin. ♪ ♪ stuart: all right, let's get straight to it. donald trump has been found guilty on all 34 counts in his new york criminal trial. lydia hu is at trump tower. what happens next? >> reporter: well, stuart, i'm standing in the lobby of trump tower right now where we are awaiting those remarks from the former president, donald trump, expected to kick off around a 1 1:00 today just on the heels of that guilty verdict. the former president has already told fox news digital that he will fight this guilty verdict with an appeal from this trial.

his attorney, todd blanche, also told fox that they believe the former president did not get a fair trial in this case. but, stuart, important to note here that that whatever the former president, donald trump, i says today here at trump the tower, he still remains under the gag order at the moment from judge with juan merchan which prohibits his comments on witnesses and and jurors in this case. that gag order, stuart, remains in place unless and until the judge lifts it. the defense attorneys can ask is ask for that 40 to happen, ask and we're checking this morning, and there are no signs of any movement on that front just yet. as a we are awaiting these remarks, we'll see how far trump pushes his comments. you have to remember, merchan has already fined donald trump $10,000 for violations of that gag order during the trial and also threatened him with jail time if further violations occur. that is the very latest here from trump tower, but i'll send it back to you. we're going to stay on top of this and bring you the latest. stuart: thanks very much, lydia.

ben domenech is with me this morning. in your opinion, how do voters react to this? if. >> well, one of the things that a we've learned over the years, stuart, is that voters don't deal very well with answering poll questions about hypotheticals. they answer far more honestly after something this is has actually happened. and sometimes just the shock of something actually happening, such as the conviction that we saw on all 34 counts, can change their valuation -- evaluation of the situation. that being said, i think that voters on the republican side now effectively require no get out the vote strategy whatsoever. they are going to be incredibly motivated to come to the polls to support donald trump. even the handful of people, the 10, 15 of nikki haley voters -- 15% of nikki haley voters, those people are also going to be motivated to vote for donald trump because if they view this as the partisan setup that it is. the real question is independent voters, how do they split, how do they evaluate the situation

here. do they view it as the kind of partisan decision that we all know it to be, or do they view it in, frankly, you know, bad with terms? the idea of electing somebody who's been convicted of these types of felonies to the white house, is that something that gives them pause? personally, i don't think it will. and the reason is i think all of this is really baked in. i think americans are aconstitute voters. i think that they're -- astute voters. think they're smarter than the media with thinks they are. the vast majority of people who have been rah rahing over this decision, i think they've misjudged the american people. and, in fact, i think your going to see a groundswell of support for donald trump in this instance as they view it as an unfair and partisan decision. and, frankly, about something that they can't even understand in a logical one, two, three, you know, explain this case to me way. stuart: the sentencing is going to take place just four days before the republican national convention is. to me, that's election interference.

>> oh, my gosh -- gliewfort stuart what do you say about this? >> i mean, how can it possibly not be election interference? stuart: exactly. >> whatever they find there, you know, it's going to be on the, right on the verge of a republican national convention that's going to nominate donald trump, you know, as their candidate. i don't with understand how you can possibly argue anything other than election interference here. and keep in mind, stuart, what we're dealing with here. you know, hillary clinton and her campaign had to pay a fine of about $113,000 to the fec because they improperly reported the spending that they made on the steele dossier as being a campaign expenditure as opposed to legal expenses. that's the end kind of thing we're dealing with here, and instead they're throwing the book at donald trump and turning him into a felon over something that should have been handled as a fine, if that. i mean, frankly, the fact that we're dealing with something here that was a business record and not something that was -- how can that that possibly be

something considered? stuart: i think this whole trial was biden's idea, it was his strategy, bottle him up, get him guilty, put him in prison, and i think it's backfiring. but i do blame significant if initial blame, i put blame on biden. how about you? >> yeah. well, i think that the biden white house and the people around joe biden is have gone along with this conspiracy to essentially try to render their largest opponent as being someone who is unacceptable to independent voters. i think it backfired on them. i think it's not something that voters are going to accept, and i think it's going to end up not being a major issue in the election. i think that in november when you poll the exit poll of voters, the top five issues, they aren't going to be this. they're going to be the economy, inflation, border security, crime, etc. and those are all things that,ly, go against the biden white house -- frankly, go against the biden white house and their agenda. stuart: it's fascinating, isn't it? ben domenech, i know you're

enjoying it -- >> it's a crazy time to be alive, stuart. stuart: it really is. [laughter] in the news business and politics. see you again later. lauren's with us. i want to know how trump donors are roadway acting to the news. lauren: with their wallets, but of course. voters will have their say at the ballot in 157 days. the the casino billionaire, miriam addletonson, said -- addleson, said e to be donating -- stuart: that's new, isn't it? lauren: are she just committed according to politico that she intends to spend more than the $90 million spent back in 2020. are there you have it. have you ever heard of sean mcguyer? a silicon valley venture capitalist, voted for hillary clinton in 2016? right after yesterday's verdict he gave $300,000 to the trump campaign. all of this money came pouring in, the web site went down for about two hours last night right after the verdict. it is back up, but i think the

motto here is the financial firepower that trump has built will increase heading into november. that doesn't guarantee victory, but it does give him financial firepower. which he needed. stuart: pulling in a a lot of money. let's get to the markets. i see some green, left-hand side of the screen on this friday morning. 68 up for the dow, 30 up for the nasdaq. kenny polcari with me as usual on a friday morning. look, kenny, the market is up, i think, because of favorable inflation news. we'll get to that in just a moment. but otherwise, i don't see any reaction on the market this morning to the verdicts, do you? >> no, i don't. actually, i kind of think that maybe some of the pressure we saw earlier in the week was nervous ifness about what that verdict was going to be, but after it cape out, i see absolutely no reaction. in fact, if nicker you could argue that some of this -- if initiation you could argue a some of this is the pce and the verdict. yesterday after the verdict came out, i put a call out out there

on twitter, would you society for a convict canned felon. as of right now, 85% of the respondents say, yes. [laughter] 15 say no. and and, look, that's a small, little poll, but i think it goes to speak to the fact that i think people are going to just purpose this aside. you know, it's all -- push this aside. it might create short-term chaos, but it does not in the long run -- stuart: okay. you did your poll, but you're a florida guy. that's where you live. >> yes. stuart: what was the reaction of your friends and neighbors in florida to this? i imagine that they're appalled at the guilty verdicts. >> they are appalled, and a lot of them are say, uniwith, listen, you've got -- you know, listen, you've got 12 ordinary new york possessor off the street that are agreeing unanimously across 34 different counts. what are the odds that could happen in you and i can't even agree if the sun is out today to. it's sunny, we can't even agree on that. now you have 12 people agreeing on 34 counts across the board

unanimous? i don't know, seems amazing to me, and i think that was really the response. stuart: well, you and i i try -- you try and have a good weekend, kenny. next week might be better. >> you as well. stuart: sure thing. here's what we have coming up for you. the biden campaign and democrats celebrating trump's guilty verdicts. meanwhile, hunter biden's trial start thes on monday of next week. trump says this is far from over. watch this. >> this was done by the biden administration in order to wound or hurt an opponent, a political opponent, and i think it's just a disgrace. we'll keep fighting. stuart: the all right. are the verdicts good or bad for the trump camera babe? if -- campaign? congressman byron donalds on that next. ♪ ♪

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stuart: friday morning, some green left-hand side. 66, up for the dow, 30 up for the nasdaq. donald trump the took aim at a president biden after the guilty verdict yesterday. watch this. roll it. >> this was done by the biden administration in order to wound or hurt an opponent, a pretty ifal -- political opponent, and i think t just a disgrace. and we'll keep fighting. we have a country that's in big trouble. but this was a rigged decision right from day one with a conflicted judge who should have never been allowed to try this case, never. and we will fight for our constitution. this is long from over. stuart: congressman byron donalds, republican from the great state of florida, join joins me now. in what way is the guilty verdict good for the trump campaign?

>> well, i think for the campaign itself, obviously, you have record-breaking fund raising that came in yesterday. i talked to the president, you know, he's still in good spirits even though what happened in new york is a disaster. but you've got to put aside the politics right now. i mean, obviously, you always want to raise money into a campaign, and i would urge viewers and supporters of donald trump or poem who find what happened -- people who find what happened disgusting, support the president, contribute to his campaign, volunteer. but this is about a america, and this is about a our constitution going forward. the radical left have now proven in lower manhattan that they will croix the institutions of america -- destroy the institutions of america just to keep political power just to stop their political rivals. this is unconscionable, it is un-american, and it is requiring the american voters to go to the polls on november 5th and defeat joe biden. donald trump has to become the 47th president or what you saw in lower manhattan will continue in america. stuart: do you think that trump

wins many november -- in november because of this? >> well, i'll tell you, i thought he was winning in november before this happened because with joe biden has been a disastrous president, and donald trump has done a great job when he was president, the 45th, he did a great job. so i thought that alone was enough for him to beat joe biden, plus we all know joe biden can't even stand up for more than ab an hour, and he's not even with us, not even coherent. but that being said, when you add in the lawfare from the radical democrats, i think that does significantly help donald trump become the 47th president of the united states because americans don't like this kind of stuff. they don't have to like you with, but they want things to be open and fair and direct, not this. not this shady lawfare brought to us by the democrats. stuart: politico reports that biden's trouble with black voters are setting off alarm bells in the white house. we have heard that before. now we've heard what -- my question is, what do black voters think about trump's

guilty verdict? if. >> well, look, i'll tell you right now i think on the breakfast club this morning you had somebody call in saying how they're standing with trump. how they, frankly, knew it was shady, they did trump dirty. and it also a looked that joe biden has said, man, that guy's terrible anyway. the border is wide open, our cities are not secured. there are multiple wars and conflicts going on under his watch. that man does not need to be president any longer. so i think what you're going to see with black voters in part is what you're going to see throughout the entire electorate. the democrat agenda has been a disaster for our country. joe biden's the worst president we ever had, and all the a democrat top political brass wants to do is get donald trump. this is flat out wrong. our country's better than this, and the people of america are definitely better than this. stuart: real fast. when the verdict was announced, some people were cheering on the streets of new york. what was it like in florida? >> looking the people were just

pissed off, dismayed, couldn't believe it. and for those people who were cheering, they don't understand what the institutions of our government are truly about. they just want to have their way. they just want to be able to go on their twitter accounts or x accounts and and lash out. they're not thinking about america, they're thinking about themselves. that's wrong. stuart: congressman byron donalds, thanks very much for being with us. always appreciate, sir. thank you. president biden's campaign was quick to react to trump's guilty verdict. we have yet to hear from the president himself. jackie hine are rick with us this morning -- jacqui heinrich are. biden returns to the white housed today. is he expected to make a statement on the verdictsesome. >> reporter: it's a good question, stuart. we don't know for sure. we haven't heard from the president yet, the white house counsel's office said we respect the rule of law and have no further comment. but the biden campaign is fund raising off the verdict warning trump's supporters are inner energized by it. convicted felon or not, trump will be the republican mom me for president, but there is one

other certaintism as you read this, donald trump's supports are fired up and likely setting fund raising efforts for his campaign. biden shared a similar fund raising note on his personal twitter account last night. there were reports that that biden plans to forcefully address this and was mulling with his team just how far to go in that effort. but any response that we may get could be a little more muted than we first expected because back, c is reporting that biden -- abc is reporting that biden does not want to feed into the narrative that he was somehow behind a witch hunt, and that was the advice of "the wall street journal" editorial board. they wrote with, mr. biden is better add a visedded to say nothing p. even a platitude will sound like an expression of satisfaction. mr. biden's son hunter is slated to go on trial on felony charges in early june, will he comment on that proceeding too? but hunter's upcoming trial has not stopped the president from making hay of trump's legal woes in the past. listen.

>> donald has a had a few tough days lately. you might call it stormy weather. now he's acting like he wants to debate me again. well, make my day, pal. i'll even do it twice. let's pick the dates, donald. i hear you're free on wednesdays. >> reporter: sources say biden's broader message if will frame trump as a threat to democracy, unworthy of the presidency. they do hope that voters who were not as engaged in this election before the verdict are more engaged now, stuart. stuart: every time a fox reporter stands up to make a report at the white house -- [laughter] you either get the leaf blower or the lawnmower. cue the lawnmower. jackie, you did very well. thank you. jacqui heinrich. quick programming note, please, you can now watch fox weather on fox business with every saturday and sunday from 6 a.m. to 9 eastern. quick check of the futures on this friday morning. a little bit of green and not much more. the opening bell is next. ♪ if -- how do you like me now?

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stuart: dow's going to be up about 600 at the opening bell. smaller gains for the s&p and the nasdaq. mark mahaney with us this friday morning. i want to start with netflix. one of your favorites, i think. last time you were here you had a price target of 650. has that changed? >> yeah, we raised it, or stu. we raised it to 700. we have done some survey work that showed this almost surprising inflection again in satisfaction for netflix and reduction in the intent to churn, and then we started for the first time ever, actually, surveying people about how interested they would be in live events, particularly live sports. the nfl on christmas day is coming to netflix, things like that. you've got a major pseudo-boxing fight from a couple of 50-year-olds -- [laughter] you know, entertaining stuff like that. anyway, we found there's much greater interest amongst netflix viewers in that. so netflix is in the strongest position i've ever actually seen financially, fundamentally, competitively. we took opportunity our estimates and price target, 700.

stuart: okay. watch out for that. next one, chewy. i know your price target was $19 a share. it's now at 21. what's your new price target? >> yeah. we went to 21, i think 232 is the price target -- 22. we're not a buyer of chewy stock although it jumped up almost 30% on earnings. i wish i had a buy on it, but that's all right. you can't get every move. we're still not seeing growth in terms of their number of active customers. they have intense competition from the likes of walmart, amazon, and their international so far has been very limited, just parts of canada. this company probably waited too long to expand into with international markets. as a i watch companies, you need to always layer in, like a cake, layer in new growth areas, and i don't think they've done that well enough. i think it's a good asset, but the valuation isn't come compelling must have if. i'll watch it, maybe a year or

two if now we'll yet more constructive on it. stuart: do you expect any reaction in the markets to the guilty verdict ises on trump? >> probably not. no, i don't think so. i think also the market is taking kind of a pass on the elections. maybe the market will start working on it or reacting to it when we get closer to the date, but there's so much uncertainty, it seems like it's going to be such a close election are either way that i think the market is unwilling to make a major with bet or major reaction one way or the other. that's my interpretation, and i think the news from the trial just kind of fed into that. i think the market's going to sit back, wait and watch and sometimes scratch its head. stuart: we'll take it. mark mahaney says netflix at $700 toa share. have a great weekend. >> you a too, stu. stuart: the opening bell is about to ring. it's the usual story. someone will lean forward and -- i say this every day. i need a new script. lauren: just one person today. sometimes it's a group effort, they kind of fight for the

button. stuart: do you remember when we did that? lauren: oh, yeah. stuart: i pressed the button. lauren: i was on the end. [laughter] stuart: the dow is up 40 points in the very early going, and it's an even split between winners and losers among the tow 30. s&p 500 also ever so slightly higher, and i mean ever so slightly, .117%. in if -- 17%. and if nasdaq composite is up almost one-quarter of 11%. -- 1. let's look at big tech. microsoft, 416. apple, 191. alphabet, 172, but meta and amazon are both down fractional. no big selloff there. trump's media stock, whoa, that was down about 15% right after the guilty verdicts came through. lauren: yeah. stuart: looks like it's recovering. lauren: it's up 2.5%. this is a volatile stock. it's also a proxy for donald trump himself. the trump brand. look, it has been tarnished by their top shareholder, donald trump, now a convicted felon.

i think you can say that clearly with fact. but the stock is actually the most trending on wall street bets, the social media online forum on reddit can. that indicates strong interest from the if individual traders who are a majority of the company's overall shareholders. these are retail investors. they are sporting donald trump -- supporting donald trump. the fundamentals of can company remain, it is unprofitable. it has about a $4 million in sales, but it is the mouthpiece for the former president as we head into the november election. stuart: got it. i rarely use siri, but i understand that apple has updated siri with a.i. so my question is, what will the new siri do? lauren: whatever you tell her to do with your voice. you instruct her. open that document, siri. e-mail it to so and so. that means she can multitask. she can follow directions. this is expected to launch in september with the new a.i.

iphone. it's also a the first major update to siri in13 years. bloomberg is reporting that siri will be capable of a.i. summaries, automessage if replies, advance ised photo editing and, my favorite, a.i.-generated emojis. what can go wrong with that? [laughter] and the artificial intelligence will be processed on the device, on the iphone itself. the really advanced stuff, that would be produced in the cloud. stuart: but you've got to get the new iphone, whatever number it is -- lauren: and the new operating system, ios18. stuart: more people are cooking at home, and that's helping costco. really? lauren: well, there's value in the groceries, the food that costco sells in bulk, right? overall revenue, 58.5 billion. on online sales up almost 211%. guess what people -- 211%. guess what people are buying online? gold, silver, gift cards, which i think is weird, but

nonetheless, and appliances. management says, look, we're going to increase our membership fees, that's going to happen, but they will not say when. the question is, why not? because they know that's where people go for value, and they don't want to tick off their 75 million paid subscribers who might feel like they're getting a deal because it's been years since costco increased that membership fee. the all-time high, which was yesterday, 819. this is a company that's firing on all cylinders. stuart: it sure is. dell, computer people, they're down big today. is that 17%? if yeah, it is. lauren: yeah. almost 18%. margin pressures. the cfo said gross margin rates will decline by about 1500 basis points -- 150 so this is a selloff on reduced profitability fears. modest hiccup, that is it. they are completely profiting off artificial intelligence. their a.i. server sales nearly doubled, they have a backlog. that's a great problem to have. the stock has tripled in the

past year, so this is just the bar was set high, and investors are somewhat disappointed. they're finding a reason to sell. stuart: okay. i see the gap, it's not the gap, it's gap. gap is up, what is it, 12%? i think they got a boost from old navy. lauren: the turn-around there has worked. plus, denim is in. rememberty denim. old navy and gap, their comp sales increased 3 at each chain, and their margins are strengthingenning because when you're popular you don't have to discount as a much. stuart: all right marvell technology strong growth thanks to, of course, a.i. lauren: i know. can i just point out the positive, first? if the data center revenue rose 87%. the reason the stock is down 6% is because overall revenue disappointed, and it actually fell 12% from a year ago. the reason is weak client spending in their wireless carrier unit and enterprise

markets overall. that's a sign of a softening economy. stuart: okay, got it. how about nordstrom, department store. they're down bigged today, 2%, 2.5%. lauren: they only a maintained their full-year outlook, they didn't increase it. they have a higher income shopper. that's where the customer has been resilient. remember the k? the top of the k. but they're warning of this uncertain economy and said, yeah, our higher income shopper is resilient but being increasingly selective. that's why the stock's down. stuart: you know, if you look carefully, the dow is up 1300 points -- lauren: well, it's been a terrible week, worst week in a year. stuart: up 132. take a look at the dow winners, there are quite a few. salesforce is back up. big with drop yesterday. not entirely recovering, but up today. unitedhealth, mcdonald's, walt disney, merck. s&p 500, the winners ors are top of that list, vf corporation, cooper, elements, ulta and

moderna back on that that list. nasdaq winners headed by zscaler, moderna, crowdstrike, warner brothers, lulu lemon mono, etc., etc. plenty of green. coming up, the liberal media is jumping for joy after the trump verdict. they say it's a majestic day. roll tape. >> and we've been holding our breath as a country for a long time the waiting for the cavalry to arrive in the form of the rule of law, and it did arrive today, and it's a majestic day. if. stuart: a majestic day -- [laughter] well, tammy bruce will bring the fire. she's in the 10:00 hour. nearly two dozen senate democrats are going after oil companies. they accuse them of colluding with opec to keep gas prices artificially high. we're on it. there have been 923 new federal regulations under biden. how much is that going to cost us? we'll feel i -- tell you. stephen moore has has the numbers after this. ♪ down on the corner out in the

street -- ♪ ♪ [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪

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stuart: 11 minutes into the trading session, and look at that, the dow's gone up a bit more, you're up 162points there, .43%. nasdaq up 34. i want to get back to donald trump's guilty verdict is. he's expected the speak at trump tower in just over an hour. steve moore with us this morning. all right, steve, a different kind of question for you. what a does a conservative, free market economist like you think about the guilty verdicts. >> well, i mean, obviously, i think it's a preposterous verdict, and i'm shocked that you could find 12 jurors in new york that would unanimously find

donald trump guilty. but i've got to tell you a couple quick things on this. number one, trump's odds on winning the presidency went down a little bit in the betting markets and, by the way, the betting markets are the best way of predicting what's going to happen in this election. trump is still a favorite, but with his edge on biden narrowed a little bit, stuart, because of this verdict. the second point i want to make because you're a financial and economic show, you know, i think one of the big losers here is the city of new york and the state of new york because people are looking at what happened in this trial and with this verdict, and people are saying, wait a minute, you can't get a fair trial in new york any longer. and if you're a businessman that's trying to invest a lot of money, you're going to ask the question, do you want to be in a blue state like new york where, you know, an unfair legal system could go after you. i hate to say this, but i think new york is the big loser here. i don't know if you agree with me, stuart, but i really do. stuart: oh, i do.

new york just doesn't look good at this time. i'll leave it at that. >> right, exactly. stuart: let's turn our attention to president biden for a second. we've got all these new regular laughses which i am told -- regulations which i am told costs each household $10,000. how much because it cost if he's reelected in. [laughter] >> well, by the way, that study that you're mentioning didn't even include the avalanche of new regulations that have come out just in the last three or four, weeks, everything from the regulating the internet to regulating what kind of car you can buy to, you know, the green energy types of regulations which are incredibly onerous. and so you're quite correct that this is a tax. regulation is a tax somewhere between 5-10,000 per household when you add up all of these costs. and the answer to your question, stuart, is, yes, you're going to see a lot more of these regulations if biden is reelected. you remember, stuart, when trump

promised that he would eliminatg to eliminate two regulations for every new regulation. well, it turned out under trump we actually eliminated about eight regulations for every new regulation. with biden, it's the opposite, basically eight a regulations for every regulation that's been repealed. so they love making rules, putting new burdens on the back of business, and that's one of the reasons i think for people who are stockholders, trump is the better bet. stuart: start the thinking about trump, please. stephen moore, thanks for joining us. big day today, and we appreciate you being here. thanks, stephen. >> thank, stuart. stuart: all important number to watch, the yield on the 101-year treasury. -- 10-year treasury. it's coming down. it actually hit 4.600 just a few days ago a, i think it was, but now you're looking at about 4.511. 4.50, down a bit more. the market likes that. the price of gold this morning, where is it? if about $2,3 74.

it's up about a $7. bitcoin, last time we checked it was $68,000, it's at 68,4 right now. the price of oil, it had been around a $77, 78, now it's $78.14. nat gas still above $2. average price of a gallon of regular down one cent at $3.55. no change for diesel, still coming in at $3.87 a gallon. coming up, you may dislike donald trump, you may oppose his policies, you may think his behavior on to noxious, but this trial shows just how far new york's legal system has sunk. that's my take, top of the hour. investor grant cardone is doubling down on his pledge. he promises never to do business in new york again, and it's all a because of trump's guilty verdict. cardone is new york stock exchange. ♪ ♪ -- is next. ♪ ♪ (traffic noises) (♪)

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stuart: gotta get back to donald trump's guilty verdict in the new york criminal trial. invest per grant cardone joins me. you will no longer be doing business in new york city because of trump's guilty verdict. tell me more, please. >> absolutely not, stuart. i mean, i said this when the ruling came out for the 355,

$355 amillion, that i couldn't concern we had $500 million to invest in new york city this year. we have since reallocated that money to florida real estate. stuart: why? why? you don't trust the legal system in new york? you don't the trust the politics here? is that it? >> we already -- as many great things that are going on in new york city,, you just have too many other risks that as a fiduciary of other people's money, i can't raise their events, i can't evict, i cannot predict the taxes. we're going to reward people -- i literally might be required to provide housing to illegal people. i can't collect the rent, and i can't get them out of the property. i can't call the police to actually do anything when there's a crime on the property. if i can't correct my rents, i don't know what my expenses are going to be, why would with i do business there? and after yesterday's ruling, i don't want to go to jail. i don't want 38 convictions or 34 convictions. i don't want 7 years, something

i did something 7 years ago to be a problem today. stuart: do you know of any other investors, real estate or otherwise, who are pulling out of new york new york state? if. >> i have 15,000 investors with me at a cardone capital. we've raised $1.3 billion. if i went to them today and said i want to invest in new york city, they would not give me money tad that. one of the greatest cities on planet earth. and nobody wants to go there and do business. stuart: who do you blame for all of this? >> well, i blame the legal system, you know? this is cheerily -- clearly, the political system's within weaponized, the legal system's been weaponized. they can do this to donald trump, a former president -- regardless of how you feel about the politics -- if they can do this to a former president, what can they do to grant cardone, any other businessman? and that is why so many business people, hedge fund operatorses and investors are leaving blue states. i left california 3 years ago because i -- 13 years ago

because i saw this coming. stuart: quick question. almost certainly going to be an appeal to these guilty verdicts. if the guilty verdicts are reversed, will you come back to new york? >> well, you know, once things settle down and there's some predictability. look, as an investor, i immediate to be able to predict the future -- i need to be able to predict the future as much as possible. i need things on my side. as a great a city as new york city is, i need stability in the marketplace, and right now you have problems picking up the trash, you can't get rid of the illegals. like, you guys have got so many problem going i don't know why anybody stays there. why would i invest there when i can come to miami, fort lauderdale or anywhere in florida? stuart: a good question, and i understand entirely because i do have to live here. grant cardone, thanks very much for joining us. i hope to see you again soon. >> thank you, stuart. stuart: how about this one? bars in washington, d.c. are offering drink specials

following the guilty verdict. okay, take me through it. what's the names? lauren: how about the 34 ounces of justice, they're offering $10 steins all weekend long. and the union pub in washington, d.c. is offering a $34000 guilte feast, it's for 12 people, get it? 12 jurors. you get that this weekend through sentencing which is july the 11th. and then there's republic restoratives which actually has a beer named for hillary rodham clinton, you see it there -- [laughter] they're offering a 34% discount this weekend. and the code is guilty. how cute. stuart: all of those specials, they're all a anti-trump. there's no pro-trump in there, is there? no anti-biden. lauren: no, no anti-biden. i see one or two pro-trump but no anti-biden. stuart: how are the betting sites handling this? lauren: okay, trump is still favored to win.

odds hecker is the source -- checker is the source, they have him up 104 right now. if you do it this way, you bet $10, that wins $10.40, you get your original $10 back -- stuart: but hid -- his lead has narrowed a little. lauren: yes. still up but not as much because of the verdict. bev got five more months -- we've got five more months. stuart: think what fun we're going to have. three hours a day, it's going to be fun. [laughter] thanks very much, lauren. check that big board, please. we're now up 26 points. what happened? all of a sudden -- we were up 10 100 offed points, there you go, 38,000. what's with that? if check the dow winners, please. headed by unitedhealth, merck, disney, vise, mcdonald's. all up. s&p 500 winners, there we have 'em, vf, element, cooper, dollar general, and the nasdaq winners, any big names up there?

if zscaler, sirius, and m, warner brothers, charter communications. we have much more ahead for you. tammy bruce, texas congressman wesley hunt, brian brenberg and tomi lahren. don't forget, trump speaks at 11, and you will see it right here. the 10:00 hour of "varney" is next. ♪

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