stuart: justin bieber, our producers are not always clear what he means. 10:00 eastern, to the money, the dow is down 60 points, opened over a hundred and the nasdaq holding onto the solid gain of 120 points.

the 10 year treasury yield motivating stock buys this morning, down below 430, your at 428%. the price of oil $73 a barrel, 364 to be precise, bitcoin coming in at $70,000 as we speak. latest read on the service sector just coming in. lauren: back in expansion territory, 53. 8 in the month of may, prices paid at 58.1. back in expansion territory. stuart: i can't work out of good news is good news for the marco good news is bad news for the market. bad news on the consumer. lauren: good news for the services sector of the economy which is outpacing the manufacturing sector, inflation maybe came down a little bit. always more to go out and they will cut rates one time this

year or maybe not. also hike. stuart: are we clear now? i am. now this. front page of the wall street journal bombshell, behind closed doors, biden shows signs of slipping. that's the polite way of describing our president's cognitive decline. congressional leaders, sometimes spoke so softly he could not be heard. meeting with speaker johnson he was confused about his own energy policy. former speaker mccarthy knew him well what he was vice president and says he's not the same person now. he mumbles, closes his eyes so long people think he's drifting off, he needs comforted notecards all the time. journal story is damning, brings together the doubts about biden's ability to do the job. there was this at the press conference on immigration. the president didn't seem to know what was going on. >> mr.

president. >> mr. president. >> over here, mr. president. >> politics with the war. >> president biden: what was that? stuart: president arrived in france for a state visit, declared no activity for the rest of the day. who is really running the show? who writes the talking points on those notecards? whoever it is is defining policy. who loads his speeches into the teleprompter. is decline, with hands of the inner circle. not his handlers. biden's 80 one years old. there is no miracle cure for cognitive decline. it only gets worse. 's president biden capable of

being president for 41/2 more years? he is not and that means he has either switched out of the ticket and replaced or make way for president kamala harris. second hour of varney just getting started. liz peek joins me now. and i don't believe biden can be president another four years and is it time for the first lady, the person who knows him best to speak up? liz: she should have spoken up a year ago or 6 months ago and allowed the voters, democrat voters to choose a better representative for their party. this has been an extraordinary hood winking and disservice to the democratic party. they are running someone virtually no one thinks will be

in office four more years. nikki haley said it best when she sent a vote for joe biden is a vote for kamala harris. she is totally right. we look at him now and he is barely able to function. i was with some washington insiders over the weekend and that was the chatter coming in washington, there is a real sense of rapid decline now. a lot of questions. i think you hit on the right thing. who's running the show? i give credit to the white house. there's been no leak about that, no one has come forward and said off the record to the new yorker magazine or something, we are the people making policy right now but this is not right. we must not normalize this which we can't have a figurehead doing nothing to run the country and there's a wizard of ahs group behind the curtain pulling the strings. stuart: the man or the woman behind the curtain pulling the strings, pay no attention. liz: everyone should be angry

about this. joe scarborough is saying how can they prove this thing? chris coons, all of biden's close circle defending him all the time saying sharp as a tack. give me a break. stuart: a different story. listen to what democrats are saying about biden's executive order on the border. >> listen. i think having an enforcement only executive order is disappointing and i think we need to make sure that we are solving the problem which requires a path to citizenship. >> it is a comprehensive bill through congress. if people want to keep the border security should support that bill. >> i don't think this is the right move. this will not solve the problem at the southern border. stuart: those politicians are democrats. the party is clearly split. they disagree with biden on the border. >> live by the sword die by the

sword, president biden made an agreement with bernie sanders before he was elected, before he became the nominee, to go along with bernie sanders's progressive agenda after telling the american people he would govern as a moderate, that he was a political moderate. is not a political moderate. hasn't behaved as one. to our former conversation, whoever's pulling the strings is on the far left of the party because that has governed everything biden has done except for his involvement and support of israel that has gotten him and more hot water with this group. the question going into the election is are they going to be disappointed enough that they don't come out and vote which is what the big fear was in 2020 or are they going to decide donald trump is bad enough, i have no sympathy for the democratic party. they've gotten themselves in this situation, nobody should support an open border.

that's not normalized, criminals, fentanyl, 100 reasons this is terrible policy. president biden is pulling this hail mary to get some voters back, shame on him for letting the situation develop as it has. we went democrats are split on israel and split on the border and the republicans are united on the border and united on israel. ironic, isn't it? good stuff. appreciate it. elon musk's x, formerly known as twitter, as the supreme court to update the twitter files. >> jack smith obtained a secret subpoena to get trump's private messages at his location data around january 6th, 2020, one. trump didn't know about it. twitter tried to delay handing over the material, for dragging their feet, now under elon musk x is asking the supreme court

to review protocols for that under what circumstances a tech company can be compelled to turn over information on its users while being prevented from alerting those users they are being investigated. stuart: what a turnaround for the dow industrials. we open up one hundred 10, one hundred 20, we are down 142 after 38 minutes of business. david, something completely different this morning. i read your stuff, you tell me silver, the metal silver currently the most underrated investment. make your case. >> great to be with you. very important conversation to be having. and more inflation and financial crises etc. . i think we will see gold and

silver do well whether any of these circumstances go forward. we have a supply and demand imbalance. these banks are at record levels today. if you look at china they are buying at $3 over the spot price any american has an opportunity to purchase. we are expecting a global slowdown in production and not having enough to mind the ounces needed. >> >> silver mining stocks. is there atf, how do you invest. >> everyone has a different approach on this. my approach is to hold it in

delaware and the reason is i am intending on becoming the bank of the future and getting loans against that and not paying taxes on it because that's a loan, not sale of a metal that appreciated in value. if you are looking at this now, you are buying paper or whatever, there's an imbalance taking place. we are at 79-1 ratio. the global level was 15 to one when we were gold standard internationally. the mining rate is 91. it is a gift. this is an opportunity. it is down in a way i did not expect. i don't think we will see below 30 silver anytime soon. we are headed towards one hundred dollars by year end. we will be heading to $300 on silver in the next 5 to 10 years depending on where gold goes and how the treasury market pans out.

stuart: it is at $30, 2962 going to 100. thanks for joining us, interesting idea. invest in silver. lauren is looking at the movers. meta-is up. lauren: this nice rise, a strong by of raymond james and increasing their price target, matter is at 487. stuart: amazon. lauren: in advance talks with the nba to get regular-season playoff games, amazon is flat about the nba is talking to espn and nbc and the journal says the tree of deals will give the league $76 billion in media revenue. stuart: sports is going to streaming, that's the way it is. hanes brands. >> the champion sportswear iconic name but severely

underperforming and selling that to authentic brands, up to $1.5 billion, they are getting rid of the underperforming segment, almost 4%. stuart: thanks. coming up, president biden telling time magazine world leaders have told him they are worried about another trump presidency. former state department official christian whiten talks about that. biden is in paris for the 80th anniversary of d-day but has signed off for the day. peter doocy is live with the full story after this. ♪

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stuart: the dow is down one hundred 35 but the nasdaq doing well, up one hundred 17. let's look at big tech. where are they going? most of them are up. meta, alphabet, apple, microsoft, amazon down 180. president biden landed in paris of this morning. he is going to celebrate the 80th anniversary of d-day. peter doocy is there. am i correct that the white house called 15 minutes after he arrived at the hotel? >> that is correct. this despite big wall street journal report that sites 45 different people they interviewed who call into question president biden's acuity. he's doing nothing today even though on air force one ride over we were told this trip was going to be action-packed.

>> it's going to be action-packed extremely moving, extremely important three days in france, speeches and opportunity for him to say thanks. say of the save the free world and set the stage for peace and prosperity. >> reporter: the why street -- the wall street journal from mike johnson, recent meeting get, for climate reasons. this is the quote. you are helping vladimir putin, according to one of the people in the exchange. it was only a study according to several people familiar with johnson's version of what happened. johnson was dismayed that biden had forgotten details of his own policies. tomorrow and friday he will had from paris to normandy for the eightieth anniversary of d-day, it's expected to be the last

milestone d-day anniversary, that veterans will be in attendance for. in normandy he will meet with ukraine's president volodymyr zelenskyy. expect him to talk about things with zelenskyy into these remarks. suggesting things with the pending russian invasion, not different from 80 years ago. stuart: peter, see you again soon. have a quick time in france. biden is saying world leaders tell him he cannot let trump win in november. christian whiten joins me now. our world leaders scared of another trump presidency? i would have thought they would be concerned of another four years of biden. >> depends who you ask. saying something candidly to president biden, they don't

want donald trump to enact it, 60% tariffs, they don't want him in. russia, mixed bag, trump was the first to export lethal arms to ukraine as opposed to humanitarian aid to, his promise to end the war, pushing ukraine toward negotiations. the toughness there. the japanese, taiwanese see trump as stronger. some europeans are upset because they think donald trump is an truth but his strength in nato by making them a little more toward what they promised. stuart: you put your finger on it. europeans think trump is uncouth. he is a low class guy. they don't like him for that reason. is the guy who helped nato. he got the europeans to stop paying but being uncouth. they can't stand him.

i am a for -- reform european. i know what is going on in their minds. filion. >> i think you are right. europe is the left point. if you look at germany, left-wing government, france, labor looks like they are coming in in the ua, they are the opposite of trump and don't like the ideas. it's very inconvenient that he comes in and cuts taxes and regulations, because that calls into question their socialist leaning policies. stuart: biden called a lid on activity 15 minutes after arriving at his hotel in paris. the wall street journal took the story about his cognitive decline. how does this look on the world stage? how does biden look on the world stage? >> donald rumsfeld used to say you are doing a great job, take the rest of the day off.

it doesn't look good. you mentioned a time magazine interview, combined with this damning journal report, with looking at reading through the interview with the president. he is out of sorts. he's not focused at all. this is someone who clearly is not mentally they are reinforced by his early naptime today. going another four years with this president, that he would be in charge as opposed to this ideological white house staff who really is in charge, that's what's going on and what people see. stuart: biden is going to meet with zelenskyy at ukraine at some point. that could be an awkward meeting. >> president biden has delivered a massive aid to ukraine. the lenski will push for more, he wants the ability to use european arms and american arms deeper into russia. who knows what will come from that.

the lenski can't be allowed to be seen at sorts with biden because biden is the most significant ally. stuart: we will be waiting for that meeting. christian whiten, thanks for joining us, see you again soon. the administration sending a delegation to the middle east to push for cease-fire and a hostage deal between israel and hamas. who is going? ashley: cia director bill burns, biden's top middle east advisor, they are traveling to the least to push for cease-fire deal. guarantors in qatar, according to ask aoc it is part of a very concerted effort to find a deal quickly. earlier reports say national security adviser jake sullivan met with families of american hostages held by hamas in gaza. the middle east trip laid out israel's proposal for a deal that would lead to the release

of hostages and a cease-fire in gaza. meantime, a report in the new york times claims israel organized to pay for an influence campaign last year targeting us lawmakers and the american public with pro-israel messaging, the goal to foster support for its war in gaza and use hundreds of fake accounts that posed as real americans on x, facebook, and instagram to post pro-israel comments. israel denies any control. stuart: still ahead, a group backed by citadel looking to create a new stock exchange that would rival new york's, the texas stock exchange wants to register with the sec later. we have details on the stock exchange showdown. alejandra mayorkas had trouble exciting how biden's executor action would actually work. very, located system.

we speak to the president of the national association of sheriffs to see if he can make sense of that next. ♪ [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: earlier this morning, the market, we've got the dow down 116, the nasdaq up 161. a quick check of cryptos, bitcoin has reached above $70 per coin. do we have nvidia? no? okay. do we have nvidia? there's crypto. 70,700 for bitcoin, ethereum down 37. nvidia, we've got it. almost $1200 a share. 2.8%, inter-day hi, record for nvidia. tell me about intel. lauren: it is up one.

4%. they are building a factory in ireland. apollo paying $11 billion towards it. until get the majority fixed, to allow it to expand capacity. stuart: 11 billion here, 11 billion there. lauren: they do half their business by 10:00 in the morning, they are struggling in the afternoon. they rival a company that is big out royster. they are winning. some protein copies, energy drinks and copies, that turning starbucks, down 1%. we when caffeine drinks in the late afternoon keep me up all night. lauren: still alive. lauren: stuart: they are in online silent comedy. lauren: do you know anyone who uses them? that might be one of the problems. 30% gain today, strong revenue increasing expectations for the full year and laws narrow.

the number of active clients down 20%, net revenue per client rose 2%. stuart: thank you very much. a group backed by black rock challenging the stock exchange to create a new national stock exchange in texas. kelly o'grady has the story. they raised millions for this project, i want to know when it might start. lauren: they are looking at 2,025 to start facilitating trades. by 2,026 host their first listing. they have raised $120 million, 2 dozen investors, more interested in the lone star state, this is about taking aim at the red tape, at the stock exchange and the nasdaq. james lee shared this, why texas? they have become economic powerhouses.

and to trade and enlist equities. the driver is cost to list on new york stock exchange is. hundreds of thousands in fees and annual membership fee. there is growing frustration with rules like setting diversity targets. they are pledged to be more ceo friendly but success is not going to be easy. you used to have dozens of reasonable exchanges. competing exchanges like ie ask, they haven't gained a ton of traction. texas has become popular for business as of today, it came out that it is tied for second for new york with fortune 500 companies getting that trading volume is taller. stuart: the nasdaq hit an all-time high. thanks. now this.

homeland security secretary alejandra mayorkas had trouble explaining the executive action on the border. >> if we experience seven consecutive calendar days where the average number of encounters each day is below 1500, then 14 days after that seventh day, we will reopen and if in fact, if in fact the number of encounters thereafter is 2500 or more on average for seven consecutive days, we have the authority to implement this bar. stuart: you got that? are we wiser now? the president of the national sheriffs association joins me now. do you understand the details of this executive action? it's very complicated. we can't work it out. can you? >> good morning and thank you

for having me on. it is a pleasure to speak on behalf of 3,000 sheriffs of the country. it is difficult, and would like to say sheriffs of america pleading with president biden since he took office to have a meeting to hear from sheriffs the direct negative impact this immigration had on the country. we've not had that meeting. we've been urging him to take some type of executive action. last three or four presidents have taken action restricting immigration. why after three years and 2 million got aways which surreptitiously sneak into the country, sometimes in camouflage, we don't know who they are, they are not registered, they are all about the country at this time.

we are having difficulty making heads or tails of executive order. it's convoluted and we believe that by design. the question is enforcement. is it enforceable? so a wait and see approach, we are not optimistic there will be any real change at this point. stuart: it was supposed to go into effect at midnight. i don't suppose you've seen any change yet, have you? >> i speak to sheriffs on the texas and arizona border about the issues. we don't see a change today. time will tell, the discussions we had with the president's top advisers get a meeting once a year, they have no inclination to halt the wave of immigration. it was explained to us we

should be thankful, the greatest migration in world history which is astounding but they are not really interested from what we understand about restricting immigration, it's not that we are against immigration, we are against the side effects presented the country especially by got aways who could be criminals, convicted individuals from other countries, we don't know who they are or what they are planning. it is a wait and see. we are hopeful because sheriffs along the border are at their wits end. we are not optimistic there will be significant changes. stuart: we will leave it right there. thanks for being with us. appreciate it. now this. congresswoman pramila jayapal is not a fan of the border action, it's not the right move. what else is she saying? ashley: the chair of the progressive caucus calls this disappointing and says restricting access to asylum is

out of trump's playbook. watch this. >> i don't think we've seen harsh enforcement policies do that? does it say the wrong message to keep democratic base? >> the president has introduced a comprehensive immigration reform bill, the kinda of work we need to be doing that we want him to emphasize. there's a difference between what he and democrats are pushing for and what donald trump pushed for. my concern about this executive order is its all tough on the border and not going to fix anything and it confuses the message about what we stand for. ashley: interesting. the aclu says it is planning to sue the white house saying the executive order is illegal and wants the court to block it. stuart: thanks. now this. democrats in california, democrats in california are pushing for it illegal migrants

to get taxpayer-funded jobs and want to make it mandatory. got to give the illegals government jobs, mandatory. that's california. a new survey shows 91% of jen z adult say housing affordability will be important and how they vote in november. it topped out more contentious issues like abortion and gun rights. how home prices are affecting the youth vote next. ♪ ♪

stuart: the nasdaq hit an all-time intraday high, the dow

is down 83. a new survey shows housing affordability is a top issue for young voters. to skyrocket under biden, doesn't be the youth vote. >> it spells trouble for him. a recent paul from harvard shows more than half of voters from 18 to 29 said that housing is an important issue to them. what's important about it, they ranked housing is more important than abortion, immigration, climate change, and student debt. 86% of voters under 30 consider housing a problem. skyrocketing cost of housing putting the american dream further out of reach. the cost of a new home spiked 30% since the pandemic made

mortgages more expensive, 30 year above 7%. %. it was under 3.5 just four years ago. i talked to a 29-year-old woman who moved home to live with her family during covid. four years later, she was still there. the cost of living in housing. she wants to hear from biden and trump about what they are going to do about the affordability crisis. >> i have experienced high cost of living the past four years for everything with biden being in the presidency. so curious to see what they say in terms of cost of living. >> reporter: she's not alone. another paul tells us nine of ten younger people say housing will influence how they vote this november. it will be an interesting one to watch.

stuart: fda panel to treat posttraumatic stress disorder. doctor who served on trump's covid team warrant about making the same mistakes with bird flu. that is next.

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stuart: a couple minutes from now, boeing will launch their crew test flight for the star liner rocket that has been postponed previously. two astronauts will make their way to the international space station where they will stay for a week. the launches two minutes away. and op-ed reads partisan cover-up of the covid 19 pandemic leads us exposed to the next outbreak. doctor marty makary, if there's another pandemic, how should public health authorities respond? >> we've got to respond swiftly and more lean machine than the government. if you look at the potential causes of past pandemics, lab leaks and in the case of covid 19, dangerous gain of function research that has been going on, there's been no changes

whatsoever, why was the and ih funding wuhan viruses, coronavirus is in montana, to infect bats with those viruses. a lot of basic principles that could be put forward by a treaty to gain of function research l we've had no leadership on that. stuart: deborah burks says we are making the same mistakes with bird flu we are making with covid. >> i'm really concerned because we are making the same mistakes that we made with covid. what do i mean by that? we are not testing to see how many have been exposed and a symptomatically infected. we could be testing every jerry worker. i believe there is an detected cases in humans. we are only tracking get people with symptoms. when we did that with covid the virus spread throughout the northeast an detected because

it took a long time to get to the vulnerable individuals. stuart: should we be testing for bird flu now? >> we should do more targeted testing of people at risk with direct contact with certain animals, people who work with cattle in the food industry. there are likely more cases than we appreciate but there's no human to human transmission that we know of. it arrest, something to keep an eye on. it is a possibility. it suggests there's a risk of another pandemic if it does change and does transmit human to human. my concern is we are not paying attention or doing anything about it or preparing. the nih has a group of smart scientists that have a traditional flu vaccine that works against bird flu but it is sitting on the couch because it is not an amrna vaccine and

there's no interest within the agency or the government in general in advancing it beyond the phase 1 human trials that it already completed successfully. it would be ironic if we have a crossover into human to human transmission we have an effective vaccine it appears on the shelf that nobody's moving to. stuart: hold on for a second. i will show the launch of the boeing launching their first crew test flight for the atlas 5 star liner rocket. two nasa astronauts are on board heading to the international space station for a week. remember please, elon musk and his space x has been launching huge rockets and taking passengers to the space station for several years. boeing is trying to catch up. this is the first test of amand, with astronauts on board, taking them to the space station. they lag a long way behind what is going on with elon musk. at this moment, that is a

successful launch. back to doctor marty makary. back to you, because an fda panel has rejected the use of ecstasy to help treat posttraumatic stress disorder. benefits do not outweigh the risks. do you see any medical value in using ecstasy for ptsd or anything else? >> there is a benefit clinicians have noted for a long time. 13 million americans with ptsd. there's a lot of need for something. the panel was not down on it. they were down on the company that brought, not enough data on longer-term abuse potential. and that means it could be too concerned about getting it out there.

>> two subjects in three minutes. and to the boeing launch we have pictures out there. what is that? in my ear i have nasa astronauts. i thought was are producers. the rocket has taken off, successful launch of boeing's first crew test flight, it has a crew on board and has been launched successfully at this point. looking back towards earth from the rocket itself, from the position of astronauts looking back. still ahead. new york congressman mike lawler, the migrant is a member of an infamous venezuelan gang.

jason che fits telling republicans to use absentee ballots. that the big reversal. celebration of andrew grewal on doctor fauci admitting some pandemic practices were not backed by science. the 11:00 hour of "varney and company" is next. ♪ investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks?

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