of the week is going to be the consumer price index, cheryl. >> absolutely. at this point, we're looking for that number to cool off just a little bit, but i think the average hourly earnings numbers that we got today might push the services side of cpi up next week. so i don't think it's really a foregone conclusion that inflation is cooling. we'll find out. maria: and, chris, you've got to be positioned for that. you're lightening up. sounds like you were lightening up throughout the show this morning. >> i think it's time to consider it seriously. maria: sell the rip. and you're talking about a.i. stocks ripping. >> absolutely. all the tech stuff, the nasdaq stuff, it is ripped. maria: guys, great show today, thank you so much, cheryl and chris. i will see you tonight on maria bartiromo's wall street, 7 p.m. right here on fox business. we've got a big show, i'm going to be talking about the fed with a former fed governor. "varney & company" pixes it up now. stu, take it away. stuart: welcome to yet another friday jobs day.

here's what we have, big surprise. a very strong the 272,000 jobs added to the economy in may. that was not expected. and the unemployment rate moving up the 4%. again, this is a strong report. how will the federal reserve are react to that? here's how the market is reacting, as in the stock market. not well. dow industrials down about 150, s&p down 25, the nasdaq off about 85 points. now, here's interest rates. going straight up. the 10-year treasury was yielding around 4.3% before the numbers, now it's 4.43%. that is a very big jump. the 2-year was 4.75%, i now it's moving much closer to 5%, another big jump for the 2-year. as for bitcoin, not much impact, $711,22 -- 71,2 200 a coin. gas continues down, 3.47 a

gallon for regular, diesel down one cent at $3.82. that's the jobs report, now politics. now fox polls spell good news for donald trump. he leads biden in arizona a, florida and north dakota. it's a dead -- in nevada. it's a dead heat in virginia. biden himself is in france if showing his age. he seemed on occasion to be confused, he didn't know where to go. this morning he apologized for ukraine's leader for the delay in delivering weapons. he blamed republicans for it. first lady jill biden has returned to america, and about a 10 minutes a ago he arrived at hunter biden's trial. there's speculation she will be a character witness for him. she returns to france tonight. who pays for her 24-hour europe to america round trip? on the show today, a decline of america's big democrat-run cities. chaos in new york after governor hochul halts a plan to charge drivers $15 and up to get into the center of the city to replace the revenue, the

governor proposes a new tax on new york city businesses. of just what we need. it's friday, june 7th, 2024. live from new york, "varney & company" is about to begin. ♪ ♪ ♪ just move on up toward your destination ♪ [laughter] stuart: move on up, where are we going? we're doing all right. lauren: a road trip. stuart: that is sinceth avenue on a friday morning. -- sixth avenue. not exactly bustling, is it? we're going to start with the latest read on the economy. 2732,000 the jobs -- 272,000 jobs added in may. lauren: it's a big number. it is a big number with almost half of the jobs coming from health care and social assistance. as well as government employment. if wages also rose more than expected, annually up 4.1%.

so the fed meets next week with, five days from now. what's more important to those central bank policymakers, employment or inflation as they consider what to do? stagflation is the fear. this report shows there's no stag in stagflation. stronger jobs report delays rate cuts. i'm going to boggle your name. citigroup and jpmorgan are sill holding out for a rate cut next month. traders are saying, no way. the probability for a september rate cut after this report on the jobs market fell to 56% from 69%. >> who thinks there's going to be one in july? lauren a lauren jpmorgan and citigroup -- stuart: tell me, brian -- >> i'm here, by the way. how could you cut rates on this data? that's crazy. we get 272 on the top lines for the job gains, but if you look at the household survey, you see a drop of 408,000 total employment, and you see 250,000 leaving the labor force. so i think the market's looking at the headline number, and then

they're look at the household numbers, and that's why you haven't seen the big drop. 272? we should have cratered. this market should be way, way, way down. stuart: isn't -- there's two surveys -- >> that's right. there's the business survey, the payroll survey and the household survey. stuart: payroll says 2272,000 jobs. household survey says -- >> a drop in employment of 408,000, and 250,000 leaving the labor force. who you gonna believe? what i would say is wait for the revisions on this one, and i think that's why the market isn't cratering so much, because it's looking through that headline number to the household survey, and it's seeing more weakness. stuart: you're right. because when we first got these numbers, futures showed a loss of 200 points on the dow drill ises. now, about 40 minutes later, we're down just 100 points. there's where we are right now, down 110 for the dow. kenny polcari, come on in.

you're covering the markets this morning. what's your take on these jobs numbers, kenny? >> listen, just like you said, when you first saw the headline number, it was shocking because it was much greater, so you saw that movement in the futures, right? you saw them suddenly collapse. i don't think the number, to brian's point, i don't think the number's going to be what it's going to be. i think next month can -- i think they're looking through the household survey, and i don't think it's going to be as strong. a lot of those jobs were government jobs with, they're not if really private payroll jobs, so what does that tell you? in my mind, i'm still in the no-cut camp. people that think there's a cut coming next week, i think they've lost their mind. i think citibank and jpmorgan have lost their mind if they think a july cut's coming. so the earliest, maybe, is november. and i'm still not, i'm still not buying that's going to happen as well. stuart: is it possible hoe, kenny, that the market will actually close higher today? >> listen, it is possible that

the market will close higher if they can -- [laughter] if they can get the narrative to be, well, they're cutting rates around the world and from 5.25 to 5% here in the united states isn't a dramatic move and still well within the normal trading range and so, therefore, they could. do i think they're going to? i think it's going to struggle. i don't think the market's going to be up or down big in either election. i think it's -- direction. i think it's going to be trading around the flatline. stuart: next we've got to deal with gamestop. it's straight down today, it's up 17% right now -- 17% down, even though this roaring kitty plans a live stream on youtube at 12 noon. you know, i can't get used to this. ny, sort it out. what's going on -- kenny, sort it out. what's going on? >> you noticed before gamestop came out, gamestop was up another 40% mt. premarket on this little kitty, roaring kitty, whatever you want to call him, right? and then gamestop came out and

preannounced their earnings a week ahead of schedule, i think in front of what they think is going to be this confusing day because of withdrew talking about. and look what happened. -- youtube. i just saw i the headline number, i didn't really look at it, but clearly it's backing off. the whole gamestop theory if you want to talk about should they ban roaring kitty from getting on youtube and doing that, i say, why? if he's just is an investor, he's talking about his position. if you're buying, stock based on what he does, you know, that's your issue, not anyone else's. are you buying tock on back rock or state street or capital research based on what they do? blackrock owns 38 million shares. are you going out to buy gamestop because blackrock owns 38 million shares? probably not. but you've got to this guy on youtube that's like a phenom just like every tiktok superstar, and and people are going, oh, my god, i've got to follow this guy. guess what? you are responsible for you. not me, not anyone else, not the sec, not robinhood. you are responsible for you.

stuart: you -- [laughter] you're having far too much fun, kenny, you really are. [laughter] >> i apologize. stuart: go and have a great weekend. i know perfectly well we'll see you next week. okay. >> you as well. lauren: i don't want to take the up time, i have two questions on gamestop. where is roaring kitty, keith gill, getting these multiple millions of dollars from to make these huge gets -- bets on gamestop in and second point, his youtube video is going to have a disclaimer saying these are just opinions, this is entertainment. suddenly, his youtube video-a disclaimer because he's in regulatory crosshairs. stuart: i'm going to move on. new fox polls on the race between biden and trump in key battleground states. trump has a solid lead in several of those key states. lauren: just pointing out, these were taken in june, so after the guilty verdict is. he's beating biden by 44 points in -- 4 points in florida. there are now more registered

republicans in the state of florida. guess where biden is also losing sport? union household support. they were a democratic stronghold. he's still up but not by much. trump is up a 5 in arizona, and as you can see, biden won all three of these states just four years ago. he also a won virginia by 10 points in 2020, and now it's a dead heat, each tied at 48%. speaking of key strong theholds, biden is losing his grip on the black voter in virginia. 81% voted for biden in 2020, now 48%. stuart: what? it's gone from 81 to 48 amongst black voters in virginia? lauren: according to this poll. stuart: that's why it's a dead heat. lauren: blacks, hispanics, union voters. >> who does he have left? lauren: young people. >> who's left? stuart: yeah. he's looking good for the election in november, brian, with numbers like in this -- >> you're talking trump -- >> yeah.

i don't know who's left for biden. the jury verdict didn't matter for people except for people who felt if like that is actually an attack on democracy. you know, the left ising or like, vote for democracy, you've got to save democracy. regular people say, well, if you try to jail your opponent in a sham trial, that's an attack on democracy. we're going to support that guy who happens to be -- i mean, like, he turned the tables on the democracy thing. stuart: isn't this most fascinating election you've seen in your -- >> yes! everything's topsy-turvy. stuart: all right. brian, thank.. -- thankses. hillary clinton seemed to associate trump with hitler. spell it out. lauren awe lauren 880 years ago today -- 80 years ago, thousands of americans fought to protect democracy on the shores of normandy. this november, all you have to do is vote. she's comparing heroes defeating hitler to voters defeating trump. and it's also wrong. how is trump a dictator?

deregulatory policies, leaving abortions to the state. this is what the trump campaign is saying, hillary clinton is a stone the cold loser who presided over the horrific benghazi debacle that led to the the death of americans. nobody takeshill ily seriously because it's clear she is clowning herself in order to stay relevant after president trump curbed -- crushed her in 2016. [inaudible] stuart: she'll never get over to losing to trump in 2016. moving on,ed president biden seemed confused at moments during yesterday's d-day ceremony. congressman cory mills was there. how does he think biden looked on the world stage? cory millses joins us in the 10:00 hour. it's day three of biden's executive action on the border, but it doesn't seem a like the new rules have deterred many migrants. arizona sheriff mark lamb will tell us if he's seen any change at the border. the sheriff is next. ♪

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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name!

it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. stuart: well, we got those job numbers at a 8:30 this morning. the market went straight down. we were off nearly 2000 points on the dow -- 200, but we've come back, nasdaq's down 44. biden's new border rule infuriating progressives. why are they so upset, lauren? lauren: i think they think it's mean that he's closing or limiting the number -- yeah, because everyone should get asylum. why not? that's what they think. but i also know that the democratic party is split, it's divided. some say, yeah, close the border. others say there is political gain in taking action for long-term undocumented, a link to -- a path to citizenship, for instance. and now they're discussing it,

and politico's reporting a program called parole in praise that will allow undocumented spouses to work. politico says that's biden's olive branch to the progressives in his party because it's kinder, and it will come after the debate, likely, giving new protections for those who have crossed illegally. stuart: it's a total mess if, and he created it. brian, the republicans appear to be in solidarity. they know what hay want, the democrats don't. >> i don't know, i guess republicans don't want to wreck the republic with, you know, like, remember when we were not supposed to fund the police because it was mean to fund the police? we saw how that turned out. oh, let's let them through the border because it's mean to stop them at the border. i wonder how that's going to turn out? you don't have to be a rock scientist to figure this out. progressives always a stop at step one, and they never think there's a step four. and when you get to step four, whoa, whoa, sorry, we didn't mean that. well, what did you think you were doing -- stuart: what did you have for

breakfast? >> i don't know. lauren: young people have a democratic heart and a republican brain, but i feel like it's all republican brain right now. law and order, basic, common sense aprils. >> just a brain. stuart: now you're getting nasty. sheriff mark lamb joins me now. sir, have you seen any change near you, you're near the border, economy change -- any change since the new rules went into effect wednesday? >> no, stuart, we haven't seen any change. look, they don't care what biden says in the cartel. what they care about is election results, and they see that trump might likely be the president, hopefully he's the prison on -- the president on the horizon, and the cartels understand this. people all over the world understand this. the ngos understand this. so they're pushing people now more than ever. no, we haven't seen change. the border patrol's even more confused now than they were before because while he says he's going to stop it which, by the way, the acceptable number, stuart, is zero.

that's the acceptable number. while he says they're going -- he's going to stop it, they've increased the asigh human claims by saying if they're trembling, if they're shaking, those could be signs of asylum are. stuart: well, i don't mean to be facetious, but you can fake that kind of easily, can't you? you're shaking, you're in. >> you might be shake, trembling and silent because you just broke the law and came into somebody's country illegally, and you're standing under law enforcement and you're still under the watchful eyes of the cartel. you think that's why they might be scared? stuart: good one. a new fox poll shows in arizona trump leads biden by 20 the points on the issue of migration. it seems like your state is pretty solidly behind trump on this. my question though, in arizona is there any organized support for an open border? >> no, there's no organized support for ab open border. there's a couple nuts down at

the legislature who want that open border, who think it's racist to have a closed border and to secure your border. but the reality is we shouldn't be at 58-38. who's the 38 that still think joe biden's going to handle the border better than donald trump? those are the 38% i want to know what's wrong with them. this should be, honestly, a 90-10 poll. i'll give 10% to people who just have no clue. but anybody who still thinks biden's going to secure the border more than president trump is just honestly out of their mind. stuart: we're having a hard time understanding the rules. what happens when 2500 people in one day cross the border? what happens? i mean, at what point -- how do you stop it? i keep asking, you, what, you ring a bell or something? time's up, can't get in anymore. how's it work? >> yeah. it's not like black friday, you know, where everybody lines up, rush ares in in the -- rushes in in the morning and gets the product. how do we trust our government to tell us there's 2500 people?

we don't know. we can't trust them. they've been lying to us for three years now. well, they've been lying to us for a hot longer than that, but this administration's made a habit of it. how in the world are we going to trust them, and how do we know? here's the bottom line, i go back to what i said before, 2500 is not a magical number that all of a sudden a you're going to stop the it. if you can stop it at a 2500, you can stop it at 0. that's the acceptable number for the people. stuart: extraordinary stuff. sheriff, thanks for being with us to tell us how it really is. thank you, sir. >> thank you. stuart: day three of biden's new border policy, and fox cameras caught hundreds of migrants in california. bill melugin, these migrants don't seem to be deterred by the new border rules. >> reporter: no, they're not. it is business as usual down here, mass illegal crossings, mass catch and release and completely outnumbered border profit take a look, this was late yesterday afternoon. this is what border patrol has

to deal with. one single agent a on hand trying to corral a group of 150 people who have just crossed illegally from all around the world. they've been waiting for border patrol for more than five hours, they were getting impatient. you've got people from china, turkey, mauritania, from the middle east. no translator out there for these border patrol agents, they don't have the man manpower to process the people and patrol the border at the same time, and we caught up with some of these migrants. take a listen. >> yes. egypt. >> reporter: all from egypt? >> yeah. >> yes. egypt. >> america, good. >> reporter: good america? yeah? why'd you come to america? if. >> business and the group. >> reporter: you want to work? job? if. >> yeah. yes. >> reporter: group of friends, you want a job. >> america, good. >> america, good. >> [inaudible] >> reporter: vietnam. all from china? >> yeah. >> reporter: why'd you come to america many. >> to be free. >> reporter: to be free?

>> yes. >> reporter: and then over in san diego our cameras were there as we witnessed more mass releases to city streets, stuart. border patrol buses just pulling up and dropping 'em off by the hundreds as they continue to say that there will be consequences for crossing the border illegally. there sure aren't consequences for a whole lot of them. stuart: bill melugin, great stuff. we appreciate it. the red ink has declined. we're only down 600 on the dow and 40 on the nasdaq -- 60 on the dow. we'll be back. there are [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street

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stuart: three minutes to the opening bell. we've got a little bit of red but not as much as an hour ago. check those markets, left-hand side of the screen. mark mahaney with us this morning. i want to talk about those ride-sharing stocks. you see some upside with lyft, right? i think you went to their investor day. >> yeah, that was our big event the week, stu, yesterday in new york. lyft's management, it's the first time they've ever held an investor day. if you go back, they ipo'd, i think it was in 2019, pre-covid. company's been around for about 10 years slowly building up. so they laid out a bunch of or several key long-term financial targets. so you've got a company with good with growth. they should be able to do close

to 20% revenue growth in the next couple of years and generate a material amount of free cash flow. so they told a better story to investors. the stock react ad modestly, but the big winner really was uber, because i think lyft laid out a lot of reasons why you want to be long ride-sharing. the penetration is still very small. stuart: wait a minute, the penetration of ride-sharing is still very small? look, i live in and around new york city, i see uber everywhere. i'm surprised to hear you say the penetration is narrow. >> let me throw two data points by you. we just did some survey work this week on this. when you poll people in the u.s. as to one very clear example, how you want to -- what's your preferred mode of transportation to get to the airport, it's still 40-45% that prefer personal car, only 16% prefer ride sharing. this is my call. i think over the next 5-10 years those two numbers are going to narrow, and at some point ride sharing will probably surpass

personal car usage. and that's just one use case. there's commute, there's also social events. all in, ride sharing probably accounts for a low single-digit percent of all rides that we take. there's substantial movement for that to go higher than where it is today. stuart: what's your target price on ubersome. >> i'm still sticking with $80. on this recent pullback on these robotaxi concern ands on a bit of a change in guidance not my concern -- philosophy by the country, you brought it town to 60. it's got global reach, it's got a very diversified model in terms of advertising revenue in addition to mobility and delivery, it's one of my top picks. stuart: okay, uber and lyft. mark 345 havenmy, see you again soon. the market is about to open. the backdrop to the open is this: very strong employment report at 8:30 this morning, just an hour ago. 2732,000 -- 272,000 jobs added to the economy. that's a big number.

however, first when that number was released, the market went straight down, then the it took a closer look and found that the household survey showed 400,000 jobs lost. that's a contradiction, and that's why the dow is not down as much as a it was earlier. you're off 69 points at this moment. the dow 30, mostly sellers. about one-third are on the upside, and heir a buyers. the s&p 500, down today but not that much, about a quarter percent lower. the nasdaq composite, pretty much the same story. that's down over one-third of 11%. 1%. have a look at big tech. that's where the action is. we have apple and microsoft if up, alphabet, meta and amazon down. no huge movement for any of those big tech stocks. but we're going to show you nvidia. we're showing it to you because the 10 for 11 stock split will come after the bell today -- 10 for 11. it'll be trading monday morning as a split basis. have a looked at gamestop. they had a surprise earnings

report, and at 12 noon eastern, keith gill -- he's the guy known as roaring kitty -- he'll live stream for the first time in three years. [laughter] lauren -- lauren: i know. stuart: purring kitty, whatever. i've got two questions. first of all, how bad was the report and, second, what do you think roaring kitty's going to say? lauren: well, they're still losing money, as per the report. it was released four days early. and the loss was narrower than expected, so you can spin that as a being positive, and their sales went down from over a billion dollars to about $80000 -- 800 million in the quarter. as a for the live stream in a few hours from from now, it comes with a disclaimer, as i noted before, essentially saying this is entertainment, folks. i'm assuming keith gill must talk about gamestop considering his massive position in it. he's one of their biggest shareholders. but, yeah, he's under fire in washington, on wall street for his posts that influence the very loyal retail crowd which he formed during the pandemic.

but they're more experienced right now, they really are. that retail crowd knows a lot about stocks. so that's the story. by the way, coming into today the stock doubled this week. this week. stuart: okay. but roaring kitty cannot overcome a bad earnings report at this point. lauren: i don't know. [laughter] >> sort of has. in the short term. stuart: yeah, in the short term, he has. the stock's down. let's get on to car rental company hertz selling off their tesla fleet, discounted price. lauren: fire sale prices, $25,000. this is the problem with evs for hertz, they're too expensive for the company to repair, collision, damage, all that, and they're not popular enough for customers to rent. hey, i don't know where i am, where am i going to find a place to the charge this thing? is now hertz is selling off their fleet. $25,000 is the magic number. every automaker is trying to compete with china on the 25,000 if ev. but for 25k, you're getting an older tesla, 270 miles per

charge. you get more now, so i guess you want a new one. this is why nationwide evs are 9% of overall car a sales. that number's grown a lot but plateaued. stuart: general motors, they've got a scent to help sell hair new evs. lauren: did you mow they had a costco auto program? general motors is using it to give discounts on the chevy equinox and blazer evs. i think that's clever. people trust costco. they love it. fan base. they see value there. so if costco's giving you a discount on a general motors ev, maybe you say, eh, let me give this a whirl. stuart: gamestop has just been halted. >> oh. stuart: i presume volatility. i'm not sure of that. lauren: thank you. stuart: yep, it's volatility. let's get to this, microsoft -- oh, i'm interested. [laughter] they got an upgrade. has this got something to do with the openai partnership? lauren: it absolutely does. how does $500 to sound to you?

they call the partnership with openai sustainable despite the investigations by the department of justice and the principal trade commission. and -- federal trade commission. and they say they both need each other, openai needs microsoft and vice versa to continue to lead in -- stuart: $500 a share. >> just made his friday. [laughter] stuart: next case, tesla. i've got a question. why does the board's chair say that it's absolutely imperative that, what's his name, musk, he gets his $56 billion -- lauren: because he deserves it, and they don't want him to go elsewhere to like one of his other companies like xai or spacex or the boring company or neuralink. did i leave anything out? she said this is not about the money, the award requires elon musk to hold any shares he receives upon exercise of stock options for five years after a he exercises the options. so it's about motivation and the future. stuart: don't understand that.

lauren: well, she says it's not about money. >> they want his attention. lauren han they want his -- >> they want his attention. stuart: and he's scattered at the moment. >> that's right. stuart: all right. take another look at lyft. we just spoke to mark mahaney about that. he said his target price was $18 a share, but there are other analysts out this. what are their targets? lauren: bank of america is saying 20. they actually double upgraded lyft from sell to buy. investor day, their first one yesterday was pretty positive. i mean, talking about gross bookings increasing 15% each year for 3 years? if. stuart: that sounds good to me. lauren: they're laser focused on the customer right now. just i haven't seen any lists on the road recently, everybody's still doing uber, at least around here. so i wonder when that a changes. stuart: have a look at docusign. 10% down is a nasty heat. lauren: a beat and a raise too. lower expectationses for billing for this quarter, that's what's

taking them down. it's the e-signature company that got very popular during the pandemic. stuart: here's a story the about rivian, and i'm not sure it counts for much. they are redesign ising their suvs, adding, whatting nvidia chips? lauren: yeah, you don't think that's a big deal? stuart: i don't think rivian produces many cars, does it? they don't tell them. lauren: i've seen a lot of them on the road. they're very luxury. what do they start, like, $75,000? they're expensive cars. they're coming out with the r2, the new vehicle is, around $45,000, so that's a big discount, but that's not until 2026. so what do you do in that gap? in how do you get people to buy r11 vehicles? make them smarter. you raise the price by at least $1,000 so they stay expensive, you put new chips in them and offer a 360 degrees of visibility even in the rain and snow. lane change command. things like that. they're just trying to make them smarter, but you still have to pay attention and and drive and keep your hands on the wheel.

dispiewrt stuart good luck selling an expensive electric car in this market. lauren: i really thought that nvidia chips would have made yog costco or microsoft. nvidia, and you would have been, yeah -- stuart: nice job. lauren: he saw through me. stuart: former fbi official andrew mccabe who was fired, well, he says the intelligence community is scared of being jailed by trump if he's reelected. roll it. >> people are actually worried about being thrown many jail or grabbed in some sort of extrajudicial detention. stuart: i remember him. we'll cover that story the fully, believe me. tens of thousands of migrants could be exempt from biden's new border rule. that's because if they're deported, their home countries won't take them back, so they've got to stay. former acting dhs secretary chad wolf on that. the trump-biden debate less than three weeks away. what should topic one be? economist peter morici lays out his top choice.

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stuart: all right, 2722,000 jobs added in the past 12 months. edward lawrence is at the labor the president for us this morning. you just spoke to the labor secretary. what a did she tell you? >> reporter: before i get to that, the president did just release a statement, he says the great american comeback continues, is what he's saying. now, this jobs report is much hotter than the federal reserve would like to see, 273,000 jobs, even topping the top of the stills for this jobs report. and this could be pushing inflation a little bit longer. when you look under the hood, you see average hourly wages up 4.11%, again, another inflationary number not consistent with 2% inflation target.

some people have equated bide mom ecs with those higher price, so i asked the labor secretary about that. >> i don't think it matters what you call it, this is an economy that is doing well. we have defied all expectations in terms of the job growth. we haven't yet talked about the unemployment rate, again, or still, at or below 4% for 30 months running now. that's the longest stretch since the 1960s. >> reporter: and she is still using the term bidenomicss. this is where the jobs were, manufacturing created 8,000. leisure and hospitality, 42,000. health care up 68,000 and if construction created 21,000, but look at government jobs creating 43,000 jobs, and that means over the past three months the government average ad creating 43,000 jobs per month. >> when i look at this overall, you know, job report, i really think this headline number is just so mess leading. and i don't think -- misleading. and i don't think it's telling the true story of what's

happening in the labor market. >> reporter: and we, again, shed more full-time jobs. we have part-time jobs that are being added back to this economy here. one more note on this, the last time the unemployment rate was 4% was january of 2022. stu? stuart: edward, thank you very much, indeed. quick, look at a the bottom right-hand corner of the screen. the dow is now down only 6 points. it's come back from -200. that's extraordinary. there you go. now it's down 10. >> thank a lot. [laughter] stuart: you kid that. lauren: yeah. stuart: peter morici, now, he's an economist and is with me this morning. peter, i am confused. the business survey shows 272,000 more jobs, the household survey showses 400,000 fewer jobs. what's going on? >> well, the household survey is based on a very small sample, and this happens from time to time. it'll correctist. -- itself. -- correct itself. i believe the employment survey, because they call up employers and say how many are on the

payroll. the household survey, you're basically saying how many people live here, how many people have a job, it's much more loosey-goosey. you can't have this level of employment growth from the indigenous population and legal immigration. if we look at the first five months of the year now, clearly, we're putting at least 100,000 people a month to work that are coming across the border illegally. it would not be possible without to this flood of immigrants. that would be a very interesting thing to be discussing in the presidential debates. stuff. stuart: yes -- oh, do you think that should be the first topic, immigration and the immigrants working? do you think that's the first topic? >> i think the three topics for the debate should be taxes because the jobs cut and tax act of 2017 is expiring for personal income tax cuts, the tariffs with regard to china and immigration. we cannot run this economy on the basis of of the legal immigration limits we have now.

that only permits jobs growth of maybe 800,000 a month. 80,000 a month. that's just not enough. so we have to raise the cap and talk about how we're going to defend the border so it's not illegal, screen appropriationly, get the people we want. but we need many more immigrants than a are legal. with regard to taxes, if you let the taxes -- if you are renew the tax cuts, the trump tax cuts, the deaf deficit goes through the ceiling. the only way you can afford to do that, those income tax cuts, is to come up with another source of revenue. which brings i to china. -- us to china. china's exports are growing again. that's how they're getting out of their mess. they were up 5% last month. a tariff on evs is not enough. with them dumping the way they are all these subsidized goods, if you put an across the board tariff there, you start to get the revenue you need. not all of it, but you start to get the revenue you need. stuart: okay. peter, i was intrigued at your

yesterday that 100 to -- 100,000 illegal migrants are working and contributing to the jobs add added to the economy. that that's a point of view and a statement of fact which i've not heard before. peter morici, i'm sorry i'm out of time, but you were intriguing today. see you again soon. >> take care. stuart: lauren's back with us. this is the intriguing too. more and more people want to bomb their -- become their own boss. what proportion? lauren: according to gallup, 62%, so a majority of people. the good news is, yeah, we're a nation of aspiring entrepreneurs who want to be business owners. most people want the power and the flexibility of that. they can work when they want to. can i say they're delusional? >> oh, whoa, whoa -- lauren: when you want to? when you own your own business, you're working 24/7. work when you want to? you have to be so established to get that flexibility. but nonetheless, i appreciate the sentiment. stuart: brian, why do you think so many people want to start their own business? the entrepreneurial spirit alive and well in america in. >> you're right, you've got to

understand if you're your own boss, you eat what you kill. you're the guy out there hunting for the business, but i would much rath raher see americans say they want to be their own boss than say hay want to be subject to the whim of somebody else or under government control. that's the american spirit. like, do your own thing, make your own way. it's a good with impulse even if not real a listic. lauren: yeah, we agree. stuart: don't think you can goof off if you start your own business -- lauren: and most of them fail. it takes courage. it takes money. a lot of people said funding is one of the biggest reasons they're not -- >> but encourage that. lauren: house, kids, mortgage -- >> but go after that. who cares? you've got to go after that. we need that in america or we're going to lose. lauren: but -- stuart: well done, brian. lauren: -- responsibility gets in the way. stuart: coming up, ladies and gentlemen, new york has become the poster child for democrat, big city failure with. everywhere democrats have been enthere trenched in purr, mismanagement is rife -- in

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

and we could all un-experience this whole session. okay, that's uncalled for. stuart: tomorrow is the 156th running of the belmont stakes. it's got a new location this year, saratoga springs in new york. kelly saberi is this. all right, why did they change the location this year? >> reporter: well, where it usually is on long island, stu, it's undergoing major renovations. fortunately, we have the saratoga racetrack which is historic, and that does change the race just a bit. it makes it shorter because of the design of the track, and now it is the same length as the kentucky derby. typically, it's called the test of the champion because of its length. now, again, here in saratoga it's the oldest organized thoroughbred racetrack in the u.s., opening in 1863, and this makes it the oldest sporting venue in the country. the 156th belmont stakes moved

from belmont park for the first time since 1968. the third leg of the triple crown and a $2 million purse, there are 23 races over the course of 4 days totaling $9.7 million. now, you can watch it all on fox sport as part of their super saturday slate. no triple crown contender this year, but all eyes are on kentucky derby champion mist -- mystik dan at 55 to 1 -- 5 to 1 odds. we spoke to the man calling this race, his first triple crown race he's announcing ever. he says the excitement is palpable. >> it's play-by-play action, and there's no second take. it's live. so the key to minimize the errors or to not let the view viewer know that i've made an error. you just gloss over little things. in the end, my job is very simple, i celebrate winners. i am there to enjoy the moment with the connections to that victory. >> reporter: post time is

6:40, stu. i did not place a bet at the derby, i'm still deciding what to do this weekend, so if you have any advice, send it my way. [laughter] stuart: i like the hat, kelly. i'm going to leave it right there, okay in. >> reporter: thank you so much. stuart: you're welcome. see you soon. brian, thank you very much for joining us for the entire hour. you were animated and lively -- >> kicking me out now, fine. i hear you. fine, it's friday. stuart: we will be watching you on "the big money show." still ahead, cory mills just jumped out of an airplane to commemorate d-day. daniel garza on whether the border is the top issue for latino voters. riley gaines on what exactly biden's title ix transgender rules mean for women's sports. and if chad wolf with on the border patrol holding 10,000 migrants in custody, four times the limit of biden's new policy. what are we going to do about this? the 10:00 hour is next.

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