place out. but it is -- quickly it plays out. small regional a banks are going to be in trouble which is probably good for the jpmorgans and the bank bank of americas that are going to be able to snap up those banks on the cheap. you have great with earnings and an expanding economy, albeit not the way it's been sold. i think the jobs market, the way those numbers come out are overinflated, but it's still pretty good. i think we're in a perfect scenario for stocks, and they'll continue to make new highs. maria: all right. we've got the core cpi coming out tomorrow morning, that's going to be certainly number that markets watch and, of course, the ppi on thursday. and we'll hear from the federal reeverybody tomorrow after the 22 -- reserve tomorrow after the 2-day meeting that begins this morning. mike and joe, thanks so much for being here. >> thank you. maria: "varney & company" picks it up now. stu, take the it away. stuart: good morning, everyone. apple rolls out its a.i. push,

and elon musk doesn't like it. he threatens to ban a apple devices at his companies. he says integrating a.i. into apple's operating system is an unacceptable security risk. investors didn't think much of apple's a. a.i. push, the stock went down. it's still well below $200 toa share, and it's down about 8 cents at this point. some selling on the rest are of the market. the dow industrials down maybe 150, nasdaq down maybe 55 points. interest rates, not much change. the 10-year coming in at 44-- 4.45, the 2-year moving to 4.85, down ever is slightly. as for bitcoin, around $66,000 per coin. oil, $77 a barrel, or thereabouts, 77.91. gas, you're looking at $3.44 for regular, no change there. diesel is actually up one cent at $3.79. all right, politics. the president seemed to freeze

at an early celebration of juneteenth. he had to be jolted into action by those around him. the pundits are again questioning how long he can stay on the job. political commentator nate if silver says it's risky for him to get out of the race can and perhaps even more risky to stay in. meanwhile, biden is considering more action on the border. the new york times says the administration may protect undocumented spouses of u.s. citizens from deportation and may allow them to work legally. that's a million people. on the show today, we'll a take you to hunter biden's trial. jury deliberations continue. a verdict is possible today. the elections in europe, voters not happy with immigration and environmentalism, conservatives over there won big. there's a lesson here for biden's presidential campaign over here. violent anti-israel demonstrations overnight in new york. protesters celebrated the october 7th massacre of qews. jews. this in a city that's proud of

trying to put donald trump in jail. it's tuesday, june 11th, 2024. "varney & company" is about to given. ♪ ♪ -- is about to begin. ♪ ♪ get out right now, it's the end of you and me. ♪ it's too late and i can't wai- stuart: leave, get out by jojo. is that manager to do with elon musk at a war with tim cook at apple in i don't know. that's where we're going to start this morning. good morning, everyone, again. apple is down after the company announced their partnership with openai. kelly's joining me this morning. why is elon musk not happy with this get-together? >> well, he thinks it's an unacceptable security violation. in typical elon musk fashion, he sent out a number of posts last night including this one replying directly to tim cook. he said i don't want it, either stop this creepy spyware or all

apple devices will be banned from the premises of my companies. he said, quote, it's patently absurd that apple isn't smart enough to make their own a.i. apple has no clue what's actually going on once they hand over your data to openai. they're selling you down the river. now, users responded with context on x saying, okay, the opena a i partnership, it doesn't involve a full integration. it's not at the ios level, and it's more intended to bolster siri because anytime you would leverage chatgpt, apple would ask your permission to share data with openai. i spoke with a former apple exec, and he said as long as the integration isn't at that software level, there isn't an issue, but let's remember elon musk has another company, xa airks, and any win by that is a threat to grog. stuart: david nicholas is watching the market this

morning, and we want him to look at apple. investors don't seem to think much of apple's a.i. push. would you buy the stock? >> look, apple's alls a one of those stocks, stu, that you want to own and forget about. i think it's a stock that this a.i. push, to me, wasn't very exciting. i didn't like -- i think elon musk is right on this. i don't think we should have blind acceptance from apple that that everything's to just going to to be okay. they said that a.i. will be aware of your data, but it won't collect your data. does anybody actually believe that? i certainly don't. our clients own apple, it's one that you want to own, it'll continue to do, i think, fairly well. stuart: how's this fight between cook and musk going to play out? i mean, musk seriously expects apple to reverse course on this? >> well, look, i don't think elon musk is someone that you want to fight with. he is someone that will pull out every resource to win, and he is a winner. he's proven that. so i don't think this is a fight that apple wants. he does have his competing xa a

i companies that is looking to compete with opena a i, so there could be some tension there. i think it's a bad pr battle for apple, and if it goes bad, it could impact the stock price, so i think elon comes outs ahead on this country. stuart: status -- fascinating. stay there, please. the other big story of the day, the hunter biden gun trial. jury deliberations are underway. a defense attorney says hunters -- hunter's only hope of acquittal is to make the jury feel sorry for him. >> i think the evidence is overwhelming. even if that gets them to, say, the 1-yard-line, the only way the defense counsel can's going to get to the goal line is if they pull at the heart strings of the jury. they have to humanize and sympathize hunter biden. stuart: all right. mary katharine ham joins us this morning. mary katherine, biden family members packed the court for hunter's trial. will that help hunt i, do you

think? -- hunter, do you think? >> prosecutors said this these people are not evidence in this trial. look, hunter biden is on tape, on video, on his own computer, on computer -- on photographs and in writing confessing to many a crime, most of them drug crimes, right? his father, the intelligence if community, some of the media have all conspired to keep him out of trouble, right? but whistleblowers came forward and said, hey, this stuff is real, he really did something wrong here. the thing he did wrong here is he's accused of lightening on a form to buy a gun -- lying on a form to buy a gun. and the question is whether he knowingly lied. so that's what the prosecution's attempting to do. on one hand, this is a paperwork crime, right? but on the other hand, it's a gun crime. this is a very dangerous guy in that moment in time if he's written about being severely addicted to crack cocaine and using it frequently.

he was lying on a form to get a handgun. he gets that handgun, and he and his hapless paramour, hallie biden, his brother's former wife, go with off and dump into it dumpster where it is then lost and then, thankfully, recovered by police. like, that's the story of what happened here. it's not just lightening on this form, right? -- lying on this form, right? if i think the jury or is probably thinking about some of those other parts of the story as well which were discussed in this trial. and, look, is there going to be a huge consequence or jail time or anything for this particular crime? i'm not sure. and i'm not sure there would be for other folks. but he should pay some sort of price for this. he should have to stand tile -- trial for this among many of the other crimes he's admitted instead of -- committed. stuart: i'm sure you're familiar with the polling guru, nate if silver. he is once again floating the idea that president biden drop out of the race. biden's approval rating has sunk to an all-time low.

i think it's 37.4 or something like that. here's that what nate silver said. biden just hit a new all-time low yesterday, dropping out would be a big risk, but there's some threshold below which continuing to run is a bigger or risk. are we there yet? i don't know. but it's more than fair to ask. mary katherine, is i it too late for biden to drop out? >> this feels like a panic moment. like i said, look, they've got this convention in august, right? so i suppose there is a world in which they could make changes at that point. but up until now they've banked on this guy, right? he is in charge of the machination, well, to the extent that he's able to be in charge -- [laughter] of the dnc and of this campaign, and i'm not sure that this is easily done. what they were hoping was that a conviction of trump would be the game-changer, and what they're seeing now is that it has not been the game-changeer in this race, the thing they were counting on, right?

and i don't include nate if in they, nate's just making ap an ox vegas that perhaps now might be the time -- observation that perhaps now ma might be the time to consider drastic measures, and i'm sure there are some in the democratic party that are because 37% is a drastic number for approval if ratings. it is bad. stuart: does anyone believe that joe biden can be president for another four years? that's my closing question. mary katherine, i'm sorry to cut you off, but we've got to move on. >> 40 no problem. stuart: we've got doug schoen is, a former pollster for president clinton who says biden needs to address his tone deaf policies. what else did he say? >> he's worrying that he's not going to be reelected. he basically said, look, he's dropping significantly with black, hispanic and young voters. and what's driving that is a failure to address the economy, inflation, the border. listen to what he had to say on fox news yesterday. >> i think what biden needs and we haven't seen it so far, harris, is a program to

revitalize the economy, to bring down prices at the pump, in the grocery store and most of all to acknowledge the pain that people of color, african-americans, hispanics -- >> all americans, everybody. >> all americans, yes. there needs to be a program on the economy, on inflation and on the border that is rational, nonpartisan and responds to people's concerns. >> yeah. >> if joe biden doesn't do it, i don't believe he's going to be reelected. >> coming from a clinton pollster, right? but, stuart, you listen to president biden, there isn't that acknowledgment that that things are tough. instead, instead of a program to revitalize, you hair the economy's doing -- you hear the economy's doing great. stuart: it's not working. let's go back to the markets and come back in with david nicholas are. we've got a big week ahead. cpi, consumer price index, tomorrow and a fed decision. what are you expecting? >> yeah, stuart, it's a big week. just look at the strong may jobs report that we had.

that essentially shut the door on a july rate hike. so you could see some slowing for month over month, but we're not going to make any significant improvements in inflation until the government stops spending like drunken i sailors. stuart, it's infuriating. if you look at the may jobs report, where were the two biggest hiring sectors for the economy? if health care, 68,000, and government, almost 40,000 -- over 40,000 jobs. so 40 of the jobs created last month were in areas that the federal reserve has no impact over. i think it's going to be very hard for the fed to bring inflation if down without a recession. not saying we're getting a recession, but that's what it's going to take to actually get inflation under control. stuart: that's a rather grim outlook for stocks bearing in mind what's happening this week. and we've started on the downside this tuesday morning. 9 david nicholas, see you again later. vice president harris says getting home prices under control will not happen million a second term. -- until a second term. we'll have charles payne all over that one, guaranteed. progressives up in arms over

biden's new border policy. now baden wants to -- biden wants to please 'em by giving 1.1 million illegal spouses amnesty. we have the full story next. ♪ ♪ giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab. whether dad's vehicle is his prized possession or the family hauler... he needs to protect it. this father's day, give him the gift of weathertech. from laser-measured floorliners and cargo liner

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♪ ♪ stuart: fox cameras have again caught hundreds of migrants crossing the border illegally into california. matt finn is in that couple baa, california. are these migrants eligible for asylum? >> reporter: well, stu, the customs and border protection tells us that they are not eligible for asylum, but but at the same time admits that any number of migrants that we are

seeing crosses here might be released into the united states on their free will. yesterday we stood right here and interact ad with a large group of about a 400 migrants who crossed into the united states many a single clip. -- in a single clip. they tell us they are gathered by human smugglers in mexico and at various times throughout the day the smugglers push over illegal gripes into the united states in -- groups into the united states in customs. what happens here is overwhelmed border patrol agents, we are talking maybe just one, two or three at a time, they see these large groups coming, they brace for them, and once the illegal groupses cross, border patrol tries to find the resources to processes the migrants. just outside of the san diego metropolitan, you can see this fresh group of migrants who illegally crossed freely into the united states. now these overwhelmed border patrol agents have to process every one of them. and as the migrants wait, they

sit in the scorching desert sun for hours. many of the migrants who illegallies cross here mt. san diego sec for tell us they're taking one, if not many flights into mexico, and then their human smuggler pushes them over into the united states. one man from india who didn't want his face on camera, he says his passport was taken in mexico. he had to pay to get it back before coming into the united states. president biden issued an order last week saying that you're not eligible for asylum anymore. because you crossed illegally. how does that make you peel? >> yeah, i didn't know about this news because i don't have a phone there. it's a very dilemma. >> reporter: and it's just a very well-oiled machine down here. it is just abundantly clear that human smugglers are taking advantage of the united states. some of these migrants tell us they're paying $10,000 plus to be transported here into our country. if back to you.

stuart: matt, we hear it, thanks very much. president biden has hinted more border action could be on the way. he's reportedly considering giving 1.1 million illegal spouses amnesty. congressman pat fallon, republican from,, joins me now. what do you make of this move, congressman? >> stuart, it's just another, you know -- he's throwing slop to his far left. if because he finally said, you know, we probably should not grant asylum to everyone that asks, and he was going to put a cap on 2500 of which, by the way, was almost a million people a year, so i wasn't for that. he should have effective border controls like a wall, deportations, expedited removals and the wait in mexico policy. so he can't get over himself inso much as the border has been wide open for the last three and a half years, and he needs to apiece his far left -- appease his far heft are. ing. stuart: it is a precursor to having illegals work?

if spouses get amnesty, they will be allowed to work legally. they're here illegally, but they can work legally. is this the opening pandora's box for everybody else? >> yeah, i think so. that mass, you know, that's a million people getting, essentially, asylum. can and that a's just going to encourage pokes to enter this -- folks to enter this country illegally. about 4 million people are waiting in line to come to this country the right way. stuart: change the subject. israel just released the body cam video of the intense moment idf forces rescued those forhostages -- four hostages in gaza. i'm going to leave that up so you can see it throughout. is this a case study of how to handle hostage situations or how not to handle hostage a situations? >> first, i think it's interesting that hamas claims, you know, they're all over the place with how many palestinians

were killed in the raid, and they also don't specify if they were combatants. if everyone killed were combatants, that's actually a good thing. they're the ones holding hostage, murdering innocent civilians intention intentionally. but you can't believe anything that's coming out of hamas' mouth. unfortunately, the american, most of the american legacy media reports it as, you know, stated fact. so i think the israelis have every single right to try to rescue their hostages, and, you know, there's going to be casualties that come with that. stuart: got with it. congressman pat fallon, always appreciate it. see you again soon is. anti-israel demonstrations once again broke out across the u.s. yesterday. kelly, details, please. >> okay. so two big clashes. the first protesters set up a new encampment at ucla, same spot as a just about a month ago. they carried a fake, bloodied bodies. they were chanting we will honor our martyrs. the police responded swiftly, reportedly arresting over 25 of

those protesters. another one for you right here in new york. anti-israel, an anti-israel mob gathered outside an exhibit that was supposed to be memorializing october 7th victims. take a listen to what they had to say. [background sounds] >> you can see the protesters, they were waving flags associated with hezbollah, and there was a banner that said long live october 7th. stuart: that is, that's absolutely despicable. in new york city. good lord. thanks very much is, kelly. check futures, please. tuesday morning, a few moments to go before the opening bell. down about 140 on the dow, down about 50 on the nasdaq. all right, we will have more after this. ♪ she's gone country, look at them boots. ♪ she's gone country, back to her root ares. ♪ she's gone country, a new kind of suit. ♪ she's gone country, here she

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[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] ♪ ♪ stuart: want to get back to apple and their announcement, the new apple intelligence a.i. platform. elon musk vowed to ban apple devices at his companies. ray wang with us this morning. ray, musk is at a war with apple's tim cook. how do you see this playing out?

>> actually, musk is not completely at war with apple's tim cook, he's a at war with openai and sam altman. there's been a spat going on between x.ai and openai because he was once an investor with openai and, basically, sam altman and the team basically were supposed to give this as an open source project for openai, and it turned out not to be the case. at any opportunity you see musk lashing out when this happens, and he's concerned that ap apple -- apple is going to work in a closed system and actually jeopardize privacy, and that's why he's banning apple devices at any one of his employment options whether it's tesla, spacex or other places. stuart: he's got hundreds of thousands of employees. can he do that with all employees, all apple devices out? can he do it? [laughter] >> i don't know if he can do that, it sounds kind of silly to be able to out put all these devices in a cage and ban it,

but it is elon musk. i guess people have to sneak one in or not bring one to work. [laughter] stuart: strange situation. let's go through this. what does apple's a.i. bring to my iphone? >> yeah. we're seeing a lot of great tools on apple's a.i., everything if from image creation, the ability to actually have better note, the ability -- notes, the make suggestions, text summaries that are there, the ability to do sketch animation, create your own emojis. these are all being delivered in efforts aspect of every part of the operating systems. developers have the opportunity to take anything from, for example, on the ipad, the ability to take your text and the way you write on a pencil and actually enhance that so whenever you write, it's always going to be straight, it's always going to be the same style the. you can insert things as you need to along the way. they've been intuesday a.i. everywhere. the important piece is they've gone from what we called originally per sways withive

technologies to consensual technologies to now mindful technologies. what that means is a.i.'s working for you, not against you. a.i.'s making suggestions for you in the background in an ambient way. stuart: what's your judgment of apple's moving into a.i.? is this a big step forward? >> it's a big step for apple, but for everyone else that's catching up, they're catching up to where samsung was, where microsoft was, and at least it gives them a baseline. and as you've noticed in we have one of these wwdcs, you don't see the impact until about three months later when the actual devices are out and that's when the revenue hits. stuart: we'll have to wait and see. ray wang, thanks for joining us this tuesday morning. see you later. ten seconds to go before the market opens, they'll ring the bell anytime -- there you go, there's the bell. we'll see somebody step forward and push the button, and the market is open this tuesday, june the11th. here we go. the dow is off a in the very early going, about 150 points.

some red ink there. that's -- down 150 to. and the vast majority of the dow 30 stocks are in the if red. we've only got 2 in the green, apple and home depot, that's it. a lot of selling on the big board this morning. where's the s&p 500? that is down 13 points. exactly one-quarter of 1 percent. the nasdaq composite also on the downside this morning, we're looking at .if 17% -- .17% drop. the dow 30, 28 of them are down -- 29 of them are down, 1 is up. look at a big tech. we've got alphabet up slightly, up a buck. apple up $1.28 now. amazon is down 1 credibility, virtually unchanged. -- 1 cent. microsoft, $426. let's stay on apple. it's just moved up a little bit. kelly, what do we make of this? >> this often happens after these big events. the stock historically goes down, stays flat, goes up a little bit.

the biggest announcement, we've been talking about it all morning, apple intelligence. investors were hoping for something more significant, but this does play into apple's consumer focus. i thought this was interesting, i've been talking to analysts, this requires you to upgrade to the iphone 15, so you could see a lot of iphone sales coming out of this announcement. stuart: is that right? [laughter] okay, i thought there was something going on there. eli lilly's new alzheimer drug got approval from the fda. big deal. for those of us my age. how's hit -- it work? >> i find this fascinating because the hallmark of alzheimer's disease is a buildup of this harmful plaque that forms as the brain ages. so removing that seems to slow down that change in the brain, so basically what this drug does is it binds to that plaque, it and helps the immune system recognize it, attack it, and it kills one in three americans, so you can see -- you can see why the stock is up. stuart: yes, it's. it's done very well recently. novo nordisk, what's this about

illegal shipment coming to america? >> smugglers are taking advantage of duty-free entry on small dollar or imimportants. ozempic is joining a soaring number of illegal medications entering the u.s. through the e-commerce sales. people are trying to buy the weight loss drug at a lower cost, but the concern is if you're buying this from a source that's not regulated by the fd -- fda, you could get really sick. stuart: the stock is down 1.2%. delta, again, an interesting story. they're launching a premium economy service on some upcoming flights. tell me, what is premium economy? >> all right. so, basically, the group between economy and business class, and it really offer as you more choice. you're going to get more leg room, noise-canceling headphones maybe if there's a baby nearby, a full meal and a blanket. and this is going to be basically on the new york to l.a. flights. it's part of a broader push by airlines to upsell. you're seeing more options for lounge access, premium seating while overall a air a fare

slips. these companies are trying to capitalize and focus willing to pay just a little bit with more. stuart: i'd be interested to see if you get free drinks -- >> well, sign me up. [laughter] stuart: have a look at bitcoin, please. i believe it's at $67,000 a coin. why are analysts saying the next 36 hours is crucial? >> the fed decision and the inflation read tomorrow. stuart: oh, of course. >> bloomberg looked at the 30-decorlation between the 10-year treasury, and it showed bit e coyne tends to move in the opposite direction. bitcoin hasn't seen a ton of progress in that price despite the money that's flowing into the e etfs, so this next 36 hours is crucial ahead of the fed decision for bitcoin to catch up to those highs. if not, you mite not see progress. stuart: mastercard will no longer require people to insert their credit card number online. how's that work? >> it's going to be replaced by

a randomly-generated token. this is going to increase security against fraud attempts. you won't have the keep having if your pass words every time you make a payment, and you'll be able to enable one click payment just by using your thumbprint. the idea is it's easier and more secure. stuart: faster too. got it. general motors, they've got a $6 billion stock buyback program. the stock's at $48 a share. tell me more. >> investors like when hay get money back. yes, they announced this morning. we don't have a time frame on when it's going to result, but this does come on the heels of a $10 billion repurchase program that's just finishing up. the cfo says heir focused on the profitability of their gas-powered and electric cars. share buybacks return cash to investors, but they can artificially boost your earnings per share. the etf looks better. stuart: gamestop. down big today. okay, it's down 6. what's going on? >> meme mania, it's short-lived

for the moment. this is a big problem for roaring kitty. so, remember, he has 120,000 options with a strike price of $20, just below what we're seeing it trade at. those are expiring june 21st. the issue is if the stock drops to the point that it may not make sense for him to exercise those options, he could lose a lot of money. he paid millions for the right for those options. but, you know, i mean, roaring kitty, he doesn't really seem to care about a making money based on that live stream on friday. [laughter] stuart: the roaring kitty saga has legs, doesn't it? >> it does. stuart: it's the name -- >> absolutely. let's give him money too right now. [laughter] stuart: check that big board. we've got a rough start to this tuesday morning, we are down 280 points, .7%. the dow's at 38,500. dow winner, there are a few. i think there are a few. last time we he canned, there were not. -- checked, there were not. apple is up $3 now, a better

reception to its a.i. platform. verizon is on the list. and here's the s&p 500 winners, first solar, robert -- apple, general motors on the list of the s&p 500. nasdaq winners, apple at the top. now it's up $3. tradedesk, paycheck, palo alto networks back on the list of winners and data doug is there too. -- data adog is there too. the 10-year treasury yield slightly lore at 4.45%. the price of gold, $2,3 -- bitcoin still at $67,000. oil about $77 per gallon -- barrel. and nat gas at a $3.04. so the the price of nat gas is going up. and the average price for a gallon of regular gasoline is at a $3.44. many change there, but diesel it diesel is up one cent at $3.79. coming up, migration and environmental a regulations were the biggest issues in this

weekend's e.u. elections. is the same thing going to happen here in november? with chef -- was made famous for his appearance at the democrat national convention in 2020, he showed support for then-candidate joe biden but now? if huh-uh. he's voting for donald trump. what changed? if he's going to be here to explain. he's next. ♪ to everything, turn, turn, turn. ♪ there is a season, turn, turn, turn. ♪ and a time to every purpose under heaven ♪

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st. jude. possible starts with you. become a monthly donor today. stuart: tuesday morning, 11 minutes into the trading session, and we are down. the dow is off 267 points. almost all of the dow 30 stocks are in the red. s&p down 20, nasdaq also down 20. next case, restaurants becoming the hottest sector in retail real estate. that's interesting. tell me more. >> it's a bit counterintuitive.

stuart: it is. >> but americans are dining out more than ever. so some new data shows that food services accounted for more than19 percent of all -- more than 19% of all retail leases. it's the highest proportion for any category driven by rising wage, the tendency of single households to dine out versus buy groceries. i think chipotle is a good example of this. i do want to note we have a lot of chains that have closed location, so i think this is there true for some parts of the country but not everywhere. stuart: thank you, kelly. do you remember the calamari comeback chef famous for his appearance at the 2020 the democrat convention? watch this. >> i've stayed up, advertise call mar rah -- call calamari is available in all 50 states. rhode island casts one vote for bernie sanders and 34 votes for the next president, joe biden. stuart: that same chef just announced he's now voting for

donald trump in the november election. chef john joins me now. what made you change your mind, chef? if. >> good morning, stuart. i really didn't change my mind. i was pro-trump even back then. but when the shut came out, i actually had a wristband on that said trump 2020. -- the shot came out. i was just doing my job. my job was to make a plater of calamari, stand on the beach and hold it. stuart: why are you now, why are you a trump supportersome. >> i like that he's a businessman. the united states, i believe, should be ran or the country should be ran as a business. to make money, to be profitable, to make all people living in the united states comfortable. not have to worry about a not having you know, raising taxes, raising prices and everything else. i've always been told that everything runs on gasoline. you start with guess lean. you raise the -- gasoline. you raise the price of gasoline, the gasoline prices go up,

everything else follows suit. over the last now -- four years, we've seen a tremendous amount of increases in food prices. not only food prices, but we're also getting charged service charges for them to deliver thed food. it's a trickle effect that goes from from one end all the way down to the other when you start raising prices. stuart: what kind of percentage christ increases have you seen for your food costs? >> oh, god, probably about 10-15% increase over the last 4 years. it doesn't seem like a lot, but it does. it just adds up. stuart: okay. >> we try to make everybody -- stuart: well, look, trump has a proposal. he wants to eliminate the taxation on tips. if that were or to come to pass, what would it mean for your workers? >> well, everybody would want to be a server at that point. they don't have to claim their taxes. stuart: right. >> we've been hearing -- i've been hearing something

different, that they want toe eliminate tipping altogether and make everybody a wagedded flow. now -- employee. at that point, you'd lose all your servers is and bartenders -- stuart: yeah, but that's not trump's proposal. he wants to eliminate -- >> i get it. stuart: -- tax on tips, and i think that would mean far more servers out there because hay get tax-free money. [laughter] >> exactly, exactly. stuart: when -- >> i don't know how that would work. stuart: when you announced you would vote for trump, you were told to tell everyone therapy an independent. who old you to say that? >> i was talking with friends, and they said maybe you shouldn't say that the. you're one party or another party, just say you're independent. maybe they don't want to see, they didn't want to see me get into any, you know, political scandals, you know, like having to defend myself. i am a who i am. i vote who i vote for. it was just a conversation i had with one of the reporters for the first story that broke with

out a week ago. stuart: okay. >> about this whole calamari thing. stuart: what kind of reception finish. >> i'm sorry, what'd you say? stuart: what kind of reception have you had since you came out publicly for trump? >> i got a couple of negative calls, a couple of negative e-mails, i got some phone calls at work saying people won't come back to the restaurant because i'm a trump support. but that's everybody's business, you know? they can all do what they want to do, and i'm going to do what i want to do. stuart: as long as you make a profit. >> exactly. stuart: chef john, we appreciate youing with here. >> my pleasure. stuart: thanks, chef. all right, senator cory booker is out there defending biden's economy. former cnn anchor don lemon doesn't like that. what did lemon e say? >> he said, look, the messaging isn't working. voters are not resonating with this. so he had senator beaker on, he gave this -- booker on. he gave this long response on how good the economy is under

biden. don lemon got visibly frustrated though. listen to this. >> if you actually the look at what the biden administration is doing, the economy's doing very well -- >> listen, senator, i'm with you, i get it. you heard my question and -- >> no, no -- >> i know you're there in washington, but it's not resonating. you have people, when i talk to people, you know what they say to me in i like donald trump. even black men. i like donald trump because he gave me a check. his name was on the check. that was a democratic congress. they know nothing about the accomplishments of joe biden -- >> right. >> and that is a failure of democrats. >> i mean, obviously, only has a few months to turn the messaging around, but something that we talked about earlier in the program,, the pollster, former president clinton's pollster said, this is not working. stuart: hard to change the messaging four months until the election. it's a very difficult position to be in. kelly, thank you. coming up, voters in europe have had it with mass migration

and variantal -- environmental extremism. take note, president biden, because they are frustrated by the same policies here. for the first time ever, a closed nuclear power plant will reopen thanks to a $1.5 a billion loan from the if biden administration. why is baa biden reopeninging this particular nuclear plant? the full story next. ♪ i've got the power! ♪ ♪ my parents worked hard for everything we had. they taught me the value of a dollar, and how to use it wisely. those lessons are forever, and today i share them with all our employees. it's why i team up with vanguard for our company's 401k plan.

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stuart: wow, look at this. the dow is down 363 points. now, there's some very important inflation news coming out tomorrow morning. maybe the market's worried about that. and also a we're going to get a fed decision on interest rates tomorrow afternoon. that's also a or worry for investors. dow off 3600 points at this -- 360 points at in this stage. then we have this, a nuclear power plant in michigan that closed back in 2022 will now reopen. it is the first ever reopening. kelly saberi in michigan. why is biden roping this one in particular? -- reopening this one in particular?

>> reporter: good morning, stuart. the department of energy is giving whole tech international a $11.5 billion loan -- 1.5 billion loan for a few reasons. it is cleaner energy, but also with the addition of all these a.i. data that centers, we are going to need more power in the u.s. take one chatgpt search, it uses 10 times as much power as a normal google search. and then we have invid a what's popular 1 h-1000 chip that many data centers use, if not it's probably the most popular, it uses 101 kilowatts of power compared to the other types of processers we've seen, it's just a sliver. again, this is being recommissioned. so it closed in 2022 here in michigan, and now whole tech wants to add two small modular reactors, and this could be the first of its kind in north america. smrs are being used in russia and china. these are are smaller scale, 300 tomegawatt reactors. microsoft is tapping into the

technology, open ai's sam altman is investing in two different start-ups making a splash in the field as well. >> for decades, you know, the united states was at the the forefront of being a nuclear power generator. there are countries who have done better. france, for instance, gets about 80% of their power from nuclear energy. so, yeah, i think there's an opportunity for us to catch up a little bit. >> reporter: nuclear energy provides nearly a fifth of the u.s. power generation. it's already our second greatest source of power, and the newest plant to be built from the ground up was done just this past spring in georgia at $322 billion -- $332 billion. provided quite the sticker shock, stuart. stuart: indeed. thanks, kelly. and, by the way, thank you, kelly, the other kelly sitting next to me -- [laughter] thanks for joining me for the hour. >> great way to start tuesday.

stuart: it is. still ahead, lisa boothe on a key battleground state that cnn claims trump will win in november. charles payne on elon musk's threat to ban apple devices at musk's companies. and lieutenant general keith kellogg on hamas accepting a u.s. resolution to end the war in gaza. is the end of the war in sight? the 10:00 hour of "varney & company" is next. ♪ ♪ we'll be coming back for you one day ♪

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