joy of being around your hus husband, you are all just a couple who is so funny with your lawsuit happy anniversary, that's awesome 25 years quite accomplished, unsupported, let's take a look at markets, 30 minutes away from the opening bell with a market that's reacting to the producer price index which might be expected, dow industrial app 134, s&p 15 are you surprised by this reaction. >> it seems like the dalles feature sold off a little bit when we had the data coming across, you would expect the lower inflation data would be good maybe it's focus on elevated jobless claims. >> also the tech market look at big tech nai. >> is been driving everything, earnings have been good. >> have a great day everybody, mark tepper, cheryl casone, see you tomorrow, "varney & company" picks it up now. larry: this is inflation day two, consumer prices wednesday,

producer prices today. >> in the last 12 months pricer's enterprises went up two-point to percent, this is down ever so slightly from a revised report for april, this is going to get your attention, wholesale prices went down 0-point to percent in the month of may. how about that. stuart: here's the market's response, interest rates moving down start with the ten year treasury, the yield is down to four-point to 7% as for the two-year the yield is there down a little bit it is up to 4.70%, rates down as inflation cools, the dow, what is that doing done about 60 odd points, the s&p is coming up at an all-time high about 14, and the nasdaq coming off an all-time high about 135 at this point, check abroad, a chipmaker helping the nasdaq big time it's following nvidia's lead with the time for one stock split and up $200 a share, tesla

is up sharply, elon musk overnight said his shareholders will approve his pay package, official results come later today, tesla is up $11, bitcoin coming in at 67700, oil right around $78 a barrel and down about 26 cents, gases up 1 cent, 3.46, diesel down 1 cent at 3.78. that is the markets. the president is in italy for the g-7 meeting, he is looking frail and lost, he took all his adult children on air force one but not hunter, he cannot leave the country. biden meets ukraine zelenskyy and our president wants to give ukraine $50 billion taken from russia's frozen assets. a half hour from now donald trump meets gop house members and later republican senators, he's tried to unite his party behind his candidacy. he also meets with the business roundtable where he may outline some policy positions. on the show today a disturbing report on the border, the

vetting process is not working and border patrol agents do not have access to all federal data, disturbing. we will have more on the growing calls for the president to step aside the latest is a blast from new york times columnist bret stephens, the most courageous thing that joe biden can do, what will that be, step aside mr. president. that's in the new york times, thursday june 13, 2024, "varney & company" is about to begin ♪ ♪ ♪ ♪. stuart: i went to register protest is not about money money money, yes it is. get out of here, we're going to

start this thursday with the latest read on inflation, producer prices up on a modest two-point to percent in the past 12 months, lauren take us through it all. >> look at the arrow on the l left, bassist fell for the month this is inflation relief not saying the start of a trend but is relief right now this is what businesses pay the stock their shelves, falling in may because of lower energy costs, nearly 60% of the may decrease of point to percent from april can be traced to a 7% decline in the price of gasoline egg prices also fell, ppi was flat month over month at the core level indicate minute 2.3% year-over-year slowing for the first time in four months, perhaps the start of a trend, either way i think the fed is breathing a sigh of relief. stuart: are you an inflation forecaster. >> not at all. stuart: adam johnson to some degree is inflation forecaster and he joins us now, i think that shows the inflation with yesterday and today inflation is

cooling. therefore different measures of ppi producer prices that we got this morning all four were lower and it comes one day after yesterday's all four measures of consumer price cpi, in other words eight reads on inflation in 24 hours and they were all lower, to be clear inflation is still rising which just rising out of slower rate is not that we will suddenly see prices decline but this is the right direction. stuart: is good for the market. >> is absolutely good for the market, curious the dow futures are down today but the nasdaq is the one you want to watch not is far more sensitive to interest-rate and those are the names that i own so i'm happy as a money manager. stuart: interest rates are down, that's a big deal take a look at the headline from bret stephens case columnist in the new york times, i'm going to read for you, the most courageous thing that joe biden can do, he says

it all leaves the president one option that can be a win for america and ultimately his place in history he can still choose not to run to seed the field to a democrat who can win, there's only time if it's a courageous honorable and transformative legacy, kaylee mcghee white with us this morning, this is from the new york times is hard to ignore the times. >> this is part of a running pattern of tension between the new york times and the biden campaign which i find interesting we have to wonder whether bret stephens or anyone else at the times will make the criticisms of biden if he were doing better in the polls even stevens admits the only reason he's calling for biden to step down because he doesn't think biden can win in a large part of the reason why is because of the concerns about biden's mental capacity which is becoming a daily concern at this point. stuart: 65% say biden does not have the mental or cognitive health to serve another term as

president, 65%. >> this is were exacerbated among my generation generation z a new york times poll found recently that 85% of young voters do not believe that biden has a mental capacity to serve another four years in the white house, this is a big part of the reason why biden is underwater with voters who he largely carried back in 2020. stuart: is why so many democrats are calling for him to step aside and at an issue related to that, house republicans voted to hold attorney general merrick garland contempt of congress after he refused to hand over the audio recordings from biden's interview with special counsel robert hur. if we could get to see the tapes, see them and hear them we would see the president cognitive decline, therefore we will never see them. >> clearly that's why they do not want to release them. by the way the democrats own standards this is election interference there is no legitimate reason why garland should not hand over the states and all of his excuses fall way

short one of the things that he argued is that lawmakers already have all the information that they need because they have the transcripts. if that is the case, what is the issue with handing over the tapes that should simply confirm what the transcript says, i did the transcripts have been tampered with in the justice department is trying to cover that up biden's answers are so disturbing and so revealing of his mental capacity at this point that they're trying to hide that from voters. stuart: let's get serious to think the president will ever step aside voluntarily. >> only thing that joe biden has ever wanted in his entire political career was to be president he made that happen four years ago and i don't think he gives out up easily. >> does he have an out that he needs to spend time with hunter to make sure he's doing okay after the conviction, be a good dad. >> the big elephant in the room who could possibly replace him with a run kamala harris, i don't think that's a better option for them at this point unless someone comes up from the

woodwork to replace biden he is the best that they got. stuart: did i hear michelle obama. >> she doesn't want it. >> kaylee mcghee white, thank you very much indeed, donald trump headed to d.c. he's good to be meeting with the top business leaders in the country, who's good to be at the meeting. >> jamie dimon, james fraser, ryan moynahan and anderson international reportedly apples tim cook among the 90 or so ceos willing to get their facetime with the former president, the business roundtable is hosting a group with three priorities 21% corporate tax rate keep a competitive international tax system and immediate expenses for r&d, research and development, head of the meeting as you noted in the intro trump is sitting down with congressional republicans to set potential policy he's calling the shots. i think congress knows and

corporate america knows it which is so many executives will be meeting with him. >> adam johnson is still with us. >> it seems like trump is going all out to make himself the business president and the republicans are the business party in conflict with the democrats. >> is always been the business president and you're absolutely right the polar opposite of what joe biden is, remember mr. trump was elected and made good on the lower regulation approach to government and i as someone who invest in the market am thrilled with that someone who believes smaller government is better government, that is certainly a very reagan viewpoint and i think we see that mr. trump who i would also like to note who has been perpetrating himself a much were presidential like we are not seen, that started back in new hampshire where he was quite gracious in the primaries about congratulating some of the other people who were up there with him and i think he made a conscious pit in it serving him

well. stuart: thank you very much. next case, vice president kamala harris speaking about her decision to choose public service, what did she say. >> over the money, money, money, remember the song at the beginning, she fixed his public service to speak in north carolina. >> to create wealth is a good thing as far as i'm concerned. if that is what one chooses, i on the other hand have choosing to live a life of public service. [laughter] but i'm all for it if that gives you what you want. >> were definitely trying. >> that's what this tour is about. >> she also touted equity, student debt forgiveness, you need because not everybody starts on the same playing field and she said she chose public service but this is a good thing she and her attorney has been are estimated to be worth

$8 million according to forbes, they have money and that's a good thing. >> it so noble of her to choose public service over money. >> $500,000 in book sales. >> is so insincere, why all the laughing. why does, here is laugh and laugh. stuart: she needs media training, just my opinion. i don't what she needs but we need to get rid of her. stuart: thank you. check the futures real fast, thursday morning, a nice gain for the nasdaq is starting out from an all-time high. any moment trump will arrived on capitol hill to meet with house republicans in a separate meeting with senate republicans, what does he want from the lawmakers and what do they want from him we will see if he says anything before he heads into the room. a new inspector general report shows border patrol screenings and bedding are an adequate and

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stuart: donald trump is about to enter and arrive on capitol hill and set to meet with house republicans and later on this afternoon he meets with senate republicans, we will monitor this affair and this occasion and see what headlines we can bring you but see if he says anything on his way and, futures a mixed market, the dow is down but the nasdaq is a strong gain of 136 points, favorable inflation this morning, new report from the department of homeland security inspector

general, top guy revealed that border patrol is not effectively screening and bedding migrants and that report said that the dhs is at risk admitting dangerous persons into the country, chris klem is a border patrol chief in yuma, arizona and he joins us now. obvious question why are board rituals age is not getting the data that they need to do for the vetting. >> is a great question we've been talking about border security is national security for a long time and this goes back to the system in place under the same administration that is not allowing us to have the relationships and record chexsystems with these countries that are coming in, the ones we have relationships with, mexico and central america in european countries, we can do connections but it really starts with the basic information the agents get from the migrants themselves in our initial database if they're not connected she and if the outside of the u.s. it to be difficult and challenging and

that's where the tension is very important that we hold people until we unequivocally know what they are, what their contents are what their sponsorship in relationship are, right now is the dhs report shows the vetting is not happening it is basic background checks. stuart: here is where things are broken down eight to the kitchen and nationals arrested in new york, los angeles, philadelphia last week, what does that tell you. >> i'll tell you this, we don't know exactly yet or am not aware of when they crossed but i can tell you the border agents are going to recognize this is a problem in the to do everything that they can in turn over every stone that they can, however, if the system does not give them any information and ice cannot hold them there to get released in expected general this is a national security issue, this is not just about 70 tried to get a job these are people that could

potentially pose a threat to the united states they proven that around the world and once before the united states, we have got to do a much better job of detaining people and getting the system right, stop spending all the money on migrant processing and all the feel-good stuff, put in the systems. stuart: that is not going to happen, we know. 330,000 venezuelan migrants across the border in just the last year, some have been linked to the violent trend gang. but officials have a hard time getting these migrants because venezuela and other countries don't provide any criminal history information to u.s. officials, what do we do with them, we cannot send them back. >> this is where were supposed to negotiate with other countries to take them into custody or spend them back to other countries or we do the long-term detention, we put them in into immigration holding facilities, if we don't know who they are why would they release them to the public, why would the public at risk, this is a known issue, we've been talking

about it i know there are agents in intelligence reporting. stuart: we are not doing it. >> i'm not arguing with you. >> this goes back and i think your viewers no and the american people are waking up, this is a failed policy in a failed approach by this administration. stuart: i'm going to point out there is a new poll majority of voters deporting illegal migrants and that makes it a political issue, the biggest issue in the election, what say you? >> i agree with you we had a little sound issue. but i'll tell you we have got to get this right, american people are waking up all around the country and even pennsylvania today speaking to people that are tired of this because it's impacting their lives and we have enough problems going on we cannot continue to allow people especially groups like 300,000 people from venezuela that opposing risk to the u.s. citizenry we have to do a better

job and hopefully we get it right in november and the american people can clean this up. stuart: good luck in pennsylvania, we will see you again shortly. democrats have been impressed about the eight tajikistan nationals arrested last week, what are the democrats saying about them. >> california senator blame republicans when hillary vaughn asked him is the u.s. at risk of another 9/11. >> just a reminder that republicans need to stop opposing additional resources for border patrol agents and other dhs personnel to enforce the law. >> you think president biden has any responsibility for the fact that terrorist are being allowed into this country. >> the fact that they were identified and detained and we know where they are is doing their job. stuart: what a joke. >> inspector general basically

said here's all the information, you're not sharing information, did 9/11 teach the intel agencies share information you are not vetting 400,000 people in the past couple 2017 create insanity. republicans is unbelievable. >> they will say anything in washington, they completely turned information upside down, how many people in america believe it's trump's paul, republicans fault that were being invaded from the south, have any people think it's his fault. >> this is all politics, the fbi chief has testified multiple times we are at risk of another terrorist attack like we've never seen before. stuart: the outrages running hot on the show. >> is running hot on the set and really get the dander up for all of us. thank you everybody, let's check those features, the dow down 70, the nasdaq and up 130, the opening bell is next.

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stuart: the run-up to the market open is about inflation just as it was yesterday producer prices in the month of may down two-point to percent year-over-year, up two-point to percent inflation appears to be moderating, i'm intrigued, why is it the interest rates went down on and inflation news. >> for the second day in a row we got data that suggest inflation is starting to slow, it is still going up but at a slower rate and interest rates reflect that by just coming back and doesn't mean it would cut soon it'll be logical if inflation is slowing and interest rates should come down a little bit and that's good for stocks because companies are borrowers and they need to raise money and the other thing that our viewers may not be but is so important it's so important that you have to discount future earnings to bring it back to the president when interest rates go

lower you are discounting at a lower rate and you can't afford to pay for more for stocks today, it's a little technical that that is important to understand. stuart: you brought to stock picks with you, i want to know if their favorite because of lower interest rates and because inflation is calling the first is a cls technology. >> an exciting company that silicon with ions that's the raw material for making semiconductors, the stock is trading 14 times earnings, that is cheap the s&p trades at 20 won this trades at 14 and growing at 30, 35% interest in the semi space which is a play on artificial intelligence, very exciting. i think it goes well north of 200, i targeted of 200, i'm excited, quaint base, you like them. >> wing base is my proxy for crypto i've never owned bitcoin but i think when base is a

wonderful company, this is the one company in the first quarter be earnings by 300%, they were supposed to make a dollar in the mid-$4.40, it is also the back office for blackrock, the largest money manager in the world, every single institutional client of blackrock that wants to trade crypto is basically on the queen-based platform that is a huge stamp of approval for corn base in his bitcoin looks ready to break above 71000 which would be a new all-time high that means when base keeps going up, now we have 30 odd seconds, 20 seconds to go to open the market the backdrop as we said before is moderating inflation but we should also p pay close attentin to big tech they are on a roll they have gone straight up the top three compass makers, apple and nvidia are worth more than $10 trillion and more valuable by the day, we've open the

market and pressed the button and the dow has opened with a very small gain we are up 100 points down, 38600, if you look at the dow 30, majority of those stocks are definitely in the red, we have a bifurcated market because the s&p 500 has opened on the upside 131% higher adding to yesterday's gains in adding to yesterday's all-time high, the same story with the nasdaq, sharply so, .62% gain, 17700 on that particular index, now shall be big tech i presume most of them are higher again, only one of them is, apple moving up to 215 and we have microsoft at 440, down 90%, microsoft at 440 microsoft at 500 and down a couple boxes running. then we have tesla, shareholders

have voted on elon musk's 56 billion-dollar pay package, the stock is up 5% but we do not have a decision. >> preliminary and looks good for elon musk, the big institutional investors put all the retail investors and seem to have gotten a yes over the finish line elon musk is confident he posted on social media in the boat was by wide margins, and curious of the margin because 73% of shareholders approved the 56 million pay package back in 2018, is it going to be the same number after all of this they still approved by that margin or may be more, the reality that tesla his main company is pivoting to robo taxis, do you want elon musk to be in charge of the new tesla or do you want someone else. stuart: that was a choice, if they voted on his pay package, he may leave tesla but at the same time they want somebody who is not distracted by all the other companies in the goings-on

tesla. it looks like he's going to get a pay package in the market seems to agree with that, broad, we showed you earlier straight up this morning, 13% gain this is gotta be about a.i. >> i have numbers, broad comps as it would be $51 billion in sales, just 11 billion of that would be from a.i. is not their core business yet but as part of the business that is driving the growth and here's the icing on the cake attend for one stock split fs to july 15 because all the cool kids are doing. stuart: just like nvidia, ten for when the stock goes up. >> are pretty sure if this holds this to be the biggest daily advance for broad common for years. stuart: amazon investing 230 million into a.i. startups, the getting on the ground floor. not just a.i. starts with generative a.i. startups, 80 of them will get free access to amazon computing power if they build up their companies on aws

speak what i want to check dave and busters i call them the arcades are down 10%, why. >> and entertainment company but also a restaurant in the operating exactly where the consumer's hurting and cutting back their earnings disappointed, same-store sales fell 5.6%, that was a fifth straight quarter, over a year of decline, they're in trouble, stock is down ten. stuart: later not just released details of the covid vaccine, does anybody get covid vaccinated anymore. >> we did an informal poll and the answer is no nor do we know anybody who has recently got the shot, why would you, why would you. >> moderna knows this in a phase three the latest covid shot just as effective as the current ones but they have five trials that are in phase three that are looking good because they realize they need to expand beyond covid the rsv that was just for that vaccine, they are

expanding, the stock is down. >> i don't think you can pay me to take a vaccine, i'm over it i've had it. stuart: quickly on goldman sachs, are they going to lend more money to the wealthy client. >> reuters is reporting the doubling down and they will double their lending in the next five years to wealthy customers, those with assets of $10 million or more in people with luxury homes in sports teams and yachts, they are pivoting back completely to the rich, remember the consumer business they pulled out of that that did not work another going after the rich. stuart: that make sense the rich has the money. >> probably a lot of choice and lenders be back these are high-quality borrowers, clients of goldman sachs, of course recheck about 800 fico scores in the above, these are very good credits you want to loan money to people like that, i should probably look at goldman as a

potential addition to the american ingenuity portfolio. stuart: the news is in. >> it is boring but good. check the big board we are five minutes into the session down 150 for the dow industrial, 38500, the dow winners headed by 3m, nike, apple is a winner at 214 this morning, that is coming in strong, home depot 345 j.p. morgan 192, s&p 500 winners, broad, up or team present, tesla up $10, that is 6% on tesla, a solid gain i think investors believe elon musk will get the pay package. >> looking at the s&p 500 overall we started at 4700 in change so we went 6100. milestones in 2024 indus only june because your trading above 5400. >> show me the nasdaq, that just hit another all-time high, that is an intraday but another high

for the nasdaq, broad, tesla, and electronic arts on the list of winners. the ten-year treasury yield, that is a number to look at down three basis points, that does not sound like much, it's job lot 430, 428 is the yield the price of gold 2337 down 17 bucks, bitcoin 68000 in small change, the price of oil $70 a barrel, 7875, nat gas is above $3, how about that, the average price for a gallon of regular 3.46, the average price of diesel is 3.70, coming up, protesters stormed the field at last night's congressional baseball game they were the only demonstrators at the game we have the full story transgender swimmer leah thomas has lost her lawsuit to compete in the olympics she's also blocked from competing in any elite competitions, brian kilmeade on

that, donald trump will likely appeal the new york criminal convictions looking at the calendar. that appeal could come days before the november election, how about that, elliott on how this all might play out. he is next. ♪ ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected.

stuart: markets quite a job for the dow industrial done 150, unitedhealth, intel they are dow stocks and down sharply accounting for a chunk of the dow decline, look at the nasdaq it is up 127 points and it just hit another all-time high, at the top of the eye with a house judiciary committee will hold hearings on alvin bragg political prosecution of donald trump, what can we expect. >> witnesses in the commission of the federal election commission i bring that up because witnesses that could

give details about campaign finance law which anybody understands were not allowed in the trial per judge merchan, judiciary wants to know how did the da alvin bragg open the door for politically motivated prosecution of federal officials by state and local prosecutors, in other words are trying to discredit the conviction. stuart: thank you, looking at the calendar it appears that an appeal by trump by the new york criminal trial could come days before the november election, elliott felig his manhattan prosecutor enjoins us today, is this timeline accurate because an appeal that would be in october surprise. >> theoretically the appeal could happen before the election but i consider it very unlikely and i started my career as an appeal prosecutor in the office in the manhattan das office would argue regularly on 23rd street and generally speaking prosecutors get broad discretion when they seek to adjourn an appeal and the bigger the transcript the more time they did to prepare the response,

even though it moved exactly at the fastest possible pace, theoretically it could be heard before the election and i consider it very unlikely even if trump has to go first he has to file his brief even if he gets it in on time for the september term which is the first term that he could get it in the appeals prosecutors could in almost certainly would ask for an adjournment i don't think the appeal will be heard before the election. stuart: i don't care when it comes i can't believe it'll be denied. >> it could be denied let's remember i don't want politics to play a role in judicial decisions, politics should not play a role but we have to be cognizant with the appellate decision of the democratic appointee. stuart: we will move on from that. hunter biden found guilty on the three counts of his gun trial still waiting to hear about a sentencing date, what happens next is there any possibility that hunter goes to jail. >> it is possible, broad discretion in the state in federal court and there are federal sentencing guidelines but the judge has the discretion

to depart downward on the guidelines is somewhere between ten to make 16 months to advisory sentence he would been well advised to plead guilty and i suspect it was a strong case, he's on audiobook describing in excruciating detail, his drug use around the time on the sport and this is a strong case you should plead guilty but the decline calls the shots that would been one reason to get a downward parch or if you accept the responsibility and play guilty even without 54-year-old man never before convicted of a crime, did not use the gun in another crime, i suspect you will get non- jail but it remains to be seen. >> the tax trial comes up in september in california, why is that much more serious. >> four years of not paying taxes and much more clear pattern of conduct as opposed to filling out a form. stuart: for years, i did not know i did not feel that a tax reform, he later paid it back, four years of filing taxes.

>> he is a rich friend that paid aback. sometimes that is a factor that the prosecutors will look at whether it was voluntarily repaid. stuart: we used you as an expert witness so to speak on this trial, come back again soon, the white house was asked whether biden would commute hunter biden sentence, what was the response. >> karine jean-pierre said no pardon but she did not rule out shortening hunter sentence. >> he's been very clear we have been very clear, he loves his son and he and the first lady love their son and they support their son i just don't have anything beyond that, what i will say i haven't spoken to the president about this since the verdict came out and as we know the sentencing hasn't even been scheduled yet.

>> she also didn't rule it out, the sentencing likely in october but the president is in a pickle he loves his son but trumps upcoming sentencing in his new york case cannot be pardoned, cannot be computed because if the state case and the optics, that's a president biden commute to sentencing of hunter, it looks bad because the same thing can happen. >> he is a pickle. republicans want to penalize, i don't know how but they want to penalize the x intelligence officials who label the laptop story disinformation, what do we want to do with these people. are they going to be held accountable, do revoke their security. >> do you fire them if they are still working, do you bring criminal charges, some republicans say they not only amounted to 2020 election interference because this is how president biden was able to dismiss and the debates et cetera running for president but it also undermines a cut ability of the u.s. intelligence community, i think that's a big

deal. stuart: what should the repercussions become of these people lied in my opinion interfered in their election, what repercussion. >> is not just all of the people behind the scenes but think of all of the democrats on capitol hill who were using this to try to discredit the president. again that's why we have elections, gives us an opportunity to vote those people out, it's a cabal. stuart: pay attention to the market, the bottom right-hand corner, the dow is down 230 points, opposite of the nasdaq which is up 128. i will repeat it we have unitedhealth, intel and another one, verizon sharply lower, down stocks for a big chunk of the dalles loss, coming up with the debate over presidents cognitive decline will not go away, key evidence is being uncovered. i'm talking about the tapes from the hours of conversation between president biden and

special counsel robert hur, that's good to be my take the top of the next hour, jay powell adjust the jobs market is not as healthy as it appears, edward lawrence gives us the troubling signs next. ♪ ♪ 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.

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stuart: chair powell has admitted the strong jobs numbers may be overstated. edward lawrence at the white house, what warning signs made him say that? >> is looking at the jobs report a big divine and the jobs report, here's exactly what were talking about the establishment survey showed 272,000 jobs were added to the economy, when you looked at the household survey in the jobs report showed the economy lost 408,000 employed people, here's the fed chairman. >> still low unappointed 4% historically low, it is moved up a little bit it's often and that's an important statistic but more than that your strong

job creation in your payroll job still coming in strong even though there's an argument a bit overstated but still that's what we see. a bit overstated here's the gradual cooling in the overtime and the prices under president biden 19% up some some of the humid office foods up 21% of electricity 29% rent and mortgage of 21%. >> how close are we to the point where the consumer cannot continue to spend as a company or feel like they're hiring. >> consumer spending is still growing but not at the pace it was growing at a year or so ago that it is still growing solidly in their right and increasing financial pressures of lower income people. and the best thing we can do is

is to and ultimately to get inflation under control. >> the fed is also washing the consumer very closely with the job report. stuart: thank you very much indeed, is this a week jobs market. >> not at all, anyone spinning it that way is wrongheaded, look around people are at work in the numbers bear that out, we gone to 4% when i was an economics major at princeton in my econ one-on-one former vice chairman of the fed made the comment that full employment is 6%, back then in the 80s we thought that that is full employment, now we learn full employment is actually so to be out for. stuart: 3.5% it would suggest

there's less turn and people get a job and they stay in it or they don't leave until they have nowhere to go where before it was a fascinating take in a structural change. stuart: thank you, check the markets bifurcated market, the dow is down 200, nasdaq is up 100, adam, thank you very much for being with us. still ahead gen z plumbers and construction workers making blue-collar jobs, is the stigma not having a positive degree in a blue-collar job is a stigma gone, senator marsha blackburn with trump this afternoon, would she want to hear from them, david webb on trump gaining ground with black voters, and the report showing pandemic loss could cause children hundreds of billions of dollars in future earnings at 10:00 o'clock hour is next.

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