>> time for the big buzz of the morning i well-known deli is additional shocking price of $120 a pound, red horse market store manager coming to the source telling the postage because of the quality we got to charge these prices. a recorder under reporters as the wholesale value of 2 pounds of cooked lobster is under $30. come on. >> my advisee crab salad, it's pretty good i'm assuming is the cost of labor it takes a lot of labor. >> it shows you the state of the union that we live in. you have a red lobster going out of business. >> stuart varney would never pay those for lobster salad.

>> for 18 years. stuart: good morning, good morning, everyone. out of fundraiser the president stared out into the crowd he seemed to freeze he had to be rescued and let off the stage by former president obama but again the president's mental and physical condition is topic one in politics, while biden was raising money from the hollywood elites donald trump campaigned in detroit, he went to a black church, the pastor thanked them for visiting the hood. to the markets take a look at the nasdaq a record high friday and is going up somewhere this monday morning, tech stocks doing well, the dow off about 90, fractional loss for the s&p. interest rates holding at lower levels, the ten year treasury is below, i'm sorry just about four and a quarter percent, the two year right around 470, 474 as the rates go up, that is hurting

the mock into market, bitcoin six to 5000 and change, a little change for the price of oil euros 7875, gas, no change, 3.44, diesel report 77. politics the president is about to announce an amnesty program for illegals. if you lived here for ten years and married to a u.s. citizen you can work and you will not be deported an estimated 1.1 million people will qualify. on the show today, the president very light schedule for the week he spending much of it at his beach house and camp david, his aides are keeping them out of the public eye as much as possible and he needs to prepare for the first debate, ten days from now, monday, june 17, 2024, "varney & company" is about to begin. ♪'.

stuart: money, money, money, billy idol i think this refers to our first story, the huge fundraiser for the president attended in los angeles, i think that's what it's all about. let's get started president biden appeared aside president obama and george clooney as a star-studded fundraiser in hollywood, this is over the weekend, how did it go. >> another moment where the president looks confused, this is days after the italian prime minister had to steer them in the right direction at the g7 there he is staring at the crowd, obama is waving and he takes biden's hand in tx courts him off the stage. at one point president biden appeared to freeze, he looked at the crowd, he smiled and obama had to escort him. they raced and $30 million. that is a record for a

democratic event, single day. just outside bob's anti-missouri protesters gathered and they block the entrances of the peacock feed into theaters, the attendees were dressed up trying to get in, just shouting at them the protesters. stuart: there you have it. look at what billionaire investor bill ackman tweeted after biden's appearance in los angeles. the democratic party is destroying itself by advancing biden for a second term, this is emperors new clothes in real life. it is not a children's book or a joke, the world is a great risk and biden second term is a grave threat to global security and prosperity. i don't know anyone who thinks president biden can do this for another four years, do you? >> these moments are so hard to watch and the most expensive was not the freeze but with

president obama taking evil president biden by the hand by like a son or grandson, what terrible optics to a nation that is already asking itself who is running things actually in this administration with somebody sold and apparently not in control of his faculties. stuart: is become topic one politics across the board, everyone's talking about this and it's not going to go away. i want you to look at the headline from the washington post from the editorial board, biden should assume the polls are right, not wrong, they say president biden has a polling problem and he needs to admit it, rejecting the polls, relying on antidotes, instincts and vibes of the malpractice and its highly consequential election dangerous for the country rather than assuming the polls are wrong mr. biden should assume their right and act accordingly. is it time for the president to

get real about the polls, if so how does he act accordingly? >> i was watching msnbc and they said the opposite trying to protect the president from his terrible polling, don't believe anything you hear about black voters, the stone the back to the democrats but we know black men in particular are trending heavily towards, i would not say the gop i would say donald trump, they see him as a champion for the working class man, people without a college degree because of his economic policies and they would not be abandoned in the democrats for nikki haley, their bidding democrats specifically for donald trump and i think were present biden needs to do, look at what these voters need, the top priorities, they're telling us poll after poll the top priorities are immigration and inflation and instead of actually paying attention to that the democrats like to lecture working class people about how great the stock market is and why don't you see how great the economy is, you are making $35000 a year you could

barely afford to feed your children, on immigration we see the news there's going to be a mass amnesty bill, that is not going to play well with black voters, i am sorry. stuart: thank you for joining us this monday morning. we hope you have a good week. see you later, jake tapper asked senator chris murphy about biden's low polling, what did he have to say. >> tapper brought up for battlegrounds a democratic senator running for reelection is pulling widely ahead of biden. watch here. >> how can you look at this, these statistics and numbers and not conclude that joe biden is a drag on the ticket. >> that's not going to be the case. >> look at the numbers, you're happy for your colleagues but biden is under pulling all of them. >> that is one i can show you 60 others that show that joe biden is in the lead plenty of polls in the swing state that show joe

biden has a small league this is a close race no doubt about it. >> get real about the polls, there is no strength at the top of the ticket and saturday murphy like the biden campaign is coughing also polls but there are other polls that show the opposite. get real. stuart: the ones we read are important. biden's campaign rolled out a $50 million ad campaign, what are they getting try punk? >> his character. >> the selection is between a convicted criminal whose only out for himself in a president who is fighting for your family. >> the problem is the president son speaking of families is also a convicted criminal, biden got what he wanted they can label and attack trump as a convicted felon and they can project biden as a wise and steady leader. >> and redirected where he needs to go. stuart: nothing to say about that until later in the show. let's get to the market monday

morning we want to know where your money is going, technology is doing okay nasdaq record high friday close up a little bit, the dow off 90, jeff sica is joining us today, dan ives very well known investment group says the race to a forgery another evaluation is between nvidia, microsoft and apple, who are you betting on. >> if you look back at when apple crossed the 1 trillion-dollar price in 2018, nobody would think that nvidia would be in the running it was a $35 stock, it was worth maybe 50 billion, neither in the running with the two titans, my bet is microsoft, i think apple had a great worldwide developers conference with the a.i. initiatives when apple went great but microsoft has what i would consider the best potential trajectory going

forward with the cloud business and keep in mind, microsoft will reach 4,000,000,000,001st because they have a superior a.i. head start on apple. i think we're going to see microsoft reached the level and there might be some dark courses coming out of the shadows to come back, young alphabet, amazon and other companies that could get in the running that i agree i think microsoft is going to be the king. stuart: i own a thin sliver of microsoft oh, you not just been kind and generous to me are you? >> i thought about that this morning but i actually own all three of them but i think microsoft has the best potential of reaching the. stuart: when did you get into nvidia, not when it was $35 a share be back yes, i did end on your show, people can google me i said in 2018 it was $35 a

share when i recommended it. it declined like 35% and you might've brought that up i don't remember but i recommended it back then in back then it was involved in chips for video games but i said the future of a.i. rest on nvidia and here we are all these years later. quickly ever core investment firm out of wall street have a year in target for the s&p 500 up 6000, 4750 now that would be a huge rally. >> i don't see that i think we're going to have a flat market so much that they made the call. i think the analyst like to put the numbers out there to get attention on themselves, i hate to say that i don't know the guy got what i see is the election is going to determine a lot. i think a lot of people if trump doesn't get elected a lot of

people are talking to even professional money managers are very worried about that. so much could happen. maybe in a miracle it keeps moving up but i think it's going to probably be flat for the rest of the year. stuart: thank you for being with us this monday morning, coming up a pastor in detroit praised trump for visiting while blasting obama and biden for never going to the hood, roll tape. >> president trump i'm so humble you would be here, president obama never came to the hood so to speak. stuart: we're going to break down trump's visit to the deep blue city. illegal migrant with ties to gangs was charged with brutally killing a mother of five in maryland, the county sheriff blames the open border, role that take. >> we need to do a better job in this country of securing our border and try to do it, they should not of been allowed to

happen. stuart: is not just maryland, migrant crime is happening as biden tries to expand and amnesty program, how about that. that is next. ♪ [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪

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stuart: in illegal migrant from el salvador has been arrested and charged with the rape and murder of a maryland mother of five, david spunt joins us, what do we know about this migrant. >> a terrible story he crossed the border in early 2023 authorities that he killed someone in el salvador before illegally crossing about a year end half ago, rachel moran is

the victim, 37 years old she had five children and last august she was found dead in bel air maryland 30 miles northeast of baltimore almost a year no word about her killer her family was living with the pain that knowing someone that raped and murdered her was walking the streets potentially ready to attack again, no more police say they have their suspect. on friday authorities in tulsa, oklahoma arrested victor antonio martinez hernandez, 23 years old he is charged with rachel morin's rape and murder, fox news is told he illegally crossed the border and february 2023, he killed a woman in his native country before escaping to the united states, police obtained a dna match from a home invasion in los angeles on march 2023 this is ring camera from the event were several people including a young child were assaulted the suspect disappear but police say he is a suspect. >> this is the second time in two years that innocent harbor

county woman has lost her life to a criminal in our country illegally, let me repeat that. 1800 miles from the southern border and this is the second woman intercounty to be killed by an illegal alien. >> hernandez is facing extradition from oklahoma to maryland and could take several weeks. if convicted he will spend a rest of his life in jail. >> david spunt, thank you very much indeed, to our men carjacked an off-duty nypd officer in harlan. republican from new york state joins me now. congressman, what is the solution here, how do we stop the surge and migrant crime? >> we need to secure the border, we need more personnel more court personnel to hear the asylum cases expeditiously we

need to stop the biden administration catch and release program since joe biden took office, 10 million migrants have crossed our southern border, most of them illegally, 90% being released into the country and when the asylum cases are finally heard, 70% are rejected, this is an absolute disaster created by joe biden and you not only have innocent people getting murdered obviously you have cops getting carjacked in cops getting assaulted and cops a few weeks ago getting shot by illegal immigrants this is absolutely out of control and it's a result of democrats. stuart: i want to add to this, we got new data and it shows isis non- detained docket has exploded to a staggering 7.4 million cases, those are migrants who have been released into the united states pending a court appearance, that is 7.4 million people, this is extraordinary, what are we going

to do you can't deport all of those people, what are we going to do. >> at the end of the trump administration we were down to below 400,000 border crossings a year since joe biden took office is over 3 million a year it's crazy, you cannot sustain this as a country, we obviously need to deal with immigration crisis long-term, i said this many times my wife is an immigrant i been through the system as a fundamentally broken system that we need to reform it but doing nothing is not solving the problem it's making it worse. you have to start with the border in the american people that were serious about stopping the mass influx, such as migrants it is drugs, fentanyl pouring into our communities killing tens of thousands of americans a year, this is an exponential crisis that the budget administration despite his ridiculous executive order from two weeks ago is doing nothing to address. stuart: one more, synagogue in

new york city was defaced with anti-israel graffiti, follows a weeklong escalation of anti-semitic incidents in the city, where is senator schumer the highest-ranking jewish and government he issued a statement but we have no action on his part or anybody else frankly it. >> he's too busy trying to figure out how to use a real putting cheese on a raw burger, it's comical. but chuck schumer the highest-ranking jewish official in american history is sitting on a bill right now, the anti-semitism awareness act which i passed through the house, 320 - 91 which would help to define anti-semitism and allow colleges and universities to start cracking down on it and enforce the department of education to crack down on it that is an immediate step that chuck schumer can and should take to help us combat

anti-semitism as it explodes across america. he's doing nothing but sitting on it and standing on the way, is shameful and disgraceful and folks should call senator schumer's office and demanded up or down vote it'll pass overwhelmingly, 37 u.s. states have already adopted the definition of anti-semitism, there is no reason for chuck schumer other than politics to be sitting on this bill. stuart: mike lawler, thank you for joining us, difficult subject, we appreciate it. the gang is in new york using migrants to help with elaborate injury scams, what is that all about. >> the russians in ms 13 are banding together with corrupt doctors to scam insurance companies, what they do is pay a migrant to fall and get hurt they file a personal injury claim, they have a surgeon perform spinal fusion, something severe neck or spinal fusion and they built insurance companies for millions of dollars, law enforcement says they gang is putting up the victims in the russian mob is providing the intelligence for this and every

new yorker is affected because of the contractors is the insurance have to jack up rates as a result of all the payouts. stuart: we hear it, thank you, check the futures, here's where your money is going, south for the dow, holding its own for the s&p and the nasdaq, the opening bell is next. ♪ (♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪

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stuart: futures suggest a downside move for the dow off about a hundred, slight losses on the s&p and the nasdaq, keith fitz with us he brought his stock picks, why do you think that chevron is his best oil company to invest in, this is a real cool company it of dividend increases inconsistent free cash flow plenty of dividend support and on top of that strong management the market is getting energy wrong. you think oil prices will go up and chevron will go up with oil prices. >> is very efficient,

everybody's talking about tvs but people are still using more dinosaur juice than ever, if that increases the way that demand is going to create additional push or pull on the infrastructure which by the way is outdated equipment, basic supply and demand. dinosaur juice, i like that and get a steel that, you also like costco, plenty of room to run a 3854, skinner dramatically get to a thousand. >> here's why for all the stuff that we talk about with the fed and inflation in the official date of the reality people are still struggling and stretched this company is opening 30 or 35 stores a year almost profitable the moment they throw the doors open 2% comes from the membership fees which are to continue to go up 90% rate, 50%

of the income is annuity -like stream to get people and explains in hopes of dollar go farther. stuart: the investment firm ever court says it predicts the s&p 500 will hit 6000 by the end of the year. it's now at 4750, the s&p is at 54. do you think the s&p can go up another 500 points. >> every time i thought it was topping it keeps going, i had 5500 on the map, 6000, might be a stretch and getting 6750 or 5750 or so. we will take it. thank you for joining us we will see you soon were almost at the point where the market opens for a fresh new week, let's see what we got we're going to be down about 100 points on the dow industrials, pretty flat on the s&p 500 and the nasdaq he's going to press the button, open on the downside for the dow the

dow on pace for the fifth down day in a row, europe 138 at this point, look at the dow 30 the vast majority are in the red that means they are losing ground to winners at the top which are disney and apple. the s&p 500 ever so slightly lower this morning, nasdaq composite similar story, ever so slightly higher, let's show you big tech, one winner on the list that is apple moving to 213, microsoft down 30 cents. amazon, meta and alphabet all down ever so slightly. then we have wedbush very popular investment firm in america they raise their target price on microsoft, how high did they said it. >> $550 a share an increase of $50 from the prior target this was based on customer checks, he is smiling.

wedbush said a tidal wave of copilot in monetization on the doorstep for microsoft. in other words the a.i. party is just getting started it's 9:00 p.m. and last call is at 4:00 a.m., were at 9:00 9:00 a.d we have all the way to go to last call. stuart: look what he and you did you move the market, the stock goes up a bucket half. how about disney i believe pixar has a new movie called inside out to. >> is about emotions. stuart: oh boy. they had a big turnout. >> brought in $155 million over the weekend all hail the summer box office, a turning point theaters breathing a sigh of relief, this is the second biggest opening ever for an animated film it puts disney and pixar back on the map, now you have the new despicable me number four that comes out july 4 weekend, there is hope out there. one of apple suppliers had a

breakthrough with their battery production what was the breakthrough. >> japan's tdk, solid-state batteries their more powerful than lithium-ion batteries that are most commonly used now, these are for more energy and they charge faster so that would be great for all the devices that batteries are used in. stuart: i'm intrigued by this one, the price for electric vehicles are plummeting, are they cheaper than a gas card? >> because of the battery degradation, the used cars the ev are not holding their value just a year ago a used ev was 25% more expensive than a used gas powered vehicle. now on average 8% cheaper what a reversal in one years time, and dollar terms $2700 cheaper on average speed when the battery is the problem. newer technology you can go further, range with the newer

cars and where and tear on the batteries. stuart: let's go to the crypto market industry, blackrock executive's warning about the adoption of bitcoin etf's, what is the problem. >> this is the chief investment officer of blackrock etf, she said investment advisors, financial advisors have been slow to incorporate the ets for two main reasons crypto currency is volatile and little track record for the performance, they just launched in january we don't know how they perform and tested and all of that it's hard for customers to get over the psychological barrier to put investment crypto currency in most of the people that buy into the ets, 80% self-directed investors using online accounts that the typical person who is interested. stuart: amc networks down sharply. stuart: down 21% there announcing a private offering of $125 million of convertible

senior notes they are trying to raise financing in the mean stock mania flip the screen, gamestop looking to reschedule the annual meeting for today, it did not happen on friday it was postponed in the online stream crashed after too many people tried to join the trying it again today. stuart: tell me about autodesk the design software, not a bad game to a naprosyn. >> the activist value to a $5 million stake in the company representing 1%, the autodesk does 3d designs, software design for major companies, amazon, hyundai they want stronger margins, board changes and if you look this quarter autodesk is down 13% because of the month-long investigation into the billing and that has spooked investors. check the big board were on the downside, not a huge loss, 70

points lower for the dow, 38500, how about the dow winners there are a few, apple is a winner it is a down stock, disney, j&j, boeing, apple, honeywell international they're all up slightly, how about the dow the s&p winners, rod, big bio-rad labs, autodesk and the networks, move on to the nasdaq top by brown, autodesk, micron, airbnb and tesla $180 a share. the ten year treasury, the you going up this morning that's putting a lot of investors off the technology market up five basis points, the yield is four-point to 8% that is the tenure the price of gold 22337 not that much change, bitcoin 65300 oil up 7906, not gas below $3, 281 the average price of a

gallon of regular 3.44 i was driving in new jersey and i found it at 3.07 unfortunately i went past it too fast, diesel we got threes .77, senator tom cotton says the war in ukraine only happen because biden is the president. >> vladimir putin only invade ukraine when democrats and president happen under barack obama and joe biden and it didn't happen with donald trump. stuart: kt mcfarland will be with us and she is going to deal with that. noncitizens are getting voter registration forms that having to provide any proof of citizenship, that doesn't sound right and we have a report on it. treasury secretary yellen says try's idea of raising tariffs and cutting income tax would make life unaffordable. >> it would require tariffs well over 100% and the effect would be to make it affordable for

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stuart: the dow is down 140, nasdaq up seven points, nvidia and microsoft hit new all-time highs earlier today that is where they are now microsoft up for 42 and nvidia 143. donald trump double under doubling down to the minute taxes on tips and encouraging to write no tax on tips on restaurant receipts, kelly saberi. >> the workers think it would be a good idea. he made this announcement in las

vegas which is home to one of the most robust hospitality sectors in the country and it's in the state were donald trump narrowly lost in 2020 and 2016, data from the state tells us one and four private sector jobs rely on tips, irs data shows workers owed more than $38 billion in taxes and tips the irs introduced a program in 2023 to encourage accurate reporting when it comes to tips. a campaign event the former president encouraged voters to write no tax on tips on the restaurant receipts they acknowledged this would need congressional approval later after the initial announcement. some of the hospitality industry are calling this serious campaign promise and it doesn't solve the issue at hand making a livable wage this includes nevada's largest union the culinary union so we went around new york to ask people how this would affect their jobs and

tipping style. >> people should receive the tips, uncle sam has is handed everything else. >> i used to work in the restaurant field and you put in a lot of work and you don't get to money and what did i do wr wrong. >> this is going to affect an already complicated relationship americans have with tipping of course the most recent conversation we've been talking about is turning around the ipad and having automated choices to tip, we will see what happens. thank you very much indeed, listen to what janet yellen had to say about trump's idea to raise tariffs and cut income taxes, roll tape. >> it would require tariffs well over 100% and it would make life unaffordable for working-class americans. >> thank you.

stuart: stephen moore is an economist and he's with us now, what do you think of the idea of raise tariffs and cut income taxes will it work? >> great to be with you i asked president trump on thursday about the no tax on tipping and right before he spoke on the business roundtable and i said where did you get the idea mr. president and he said a waitress told me about it. >> i said that the way to get a good policy idea and i love that one. on the issue of the imports this is a perfect example of where the left takes trump's literally and not seriously most of us are concerned and take us seriously literally he wasn't going to completely eliminate the income tax he meant to say with the tariff revenue that we bring in heavy does a 10% across-the-board tariff we could use some of the money to reduce income taxes you could maybe reduce and probably get rid of the entire gift and estate tax

you could cut the capital gains you could reduce the payroll tax on workers of little bit there are all sorts of things, and janet yellen is right you not to aluminate the entire income tax but you could do an offset that would be good for workers to make foreigners pay for the goods and services that come into the country, i think it's an interesting idea. next one, trump said migrants are taking jobs away from black voters. roll tape. >> your social security and medicare are under siege because of the people coming over the border. and the people coming over the border all the millions of people they are inflicting tremendous harm to our black population and to our hispanic population, those people are suffering because their jobs are being taken, the hospitals are being taken, their schools have been taken, they are the ones that suffer most, do you know what who well suffers, no union will be sustained like this.

we have literally millions of people in this country illegally we're going to have to work are they? >> this is a obligated question. i'm very pro-immigration but they have to come in legally in legal immigrants don't take jobs from americans they fill the vital positions whether in the nursing homes were whether in food service business or whatever it might be immigrants are great assets or country. trump is a new cannot have eight, ten, 11, 12 million we don't even know how many coming and working under the table we don't know what wages are being paid and whether the getting any government benefits and that is a situation that we cannot tolerate, if organ have an immigration system they have to be able to come in legally and we need legal immigrants in this country but my problem because somebody more immigrants are coming in illegally then legally the whole system is falling apart it's collapsing and it

cannot stand. stuart: i don't know where were going with this, thank you for joining us. have a great day and we will see you soon. i'm going to give you a big tip the next time i see you and we won't tax it. alright, we're going to talk inflation. i want to know what neil kashkari president minneapolis, he's been talking about inflation what's he saying. >> 2% said target that is a ways away, watch how he answers the question, why hasn't the u.s. cut rates like europe and canada. watch. >> we need to see more evidence to convince us that inflation is on his way back down to 2% read as you reporting the job market remains strong but there's an important difference between the u.s. and the other countries, the u.s. and economic fundamentals are much stronger than advanced economies around the world. they're facing declining inflation and economic weakness

and were facing declining inflation slowly but economic strength that's was leading to the diversions and monetary policies. the fed says there is one cut this year that's what they're gauging for and they said is not coming before december so many of our guest in an election year said there are 0, undercuts coming to interest-rate. >> pulling a couple hundred thousand people. >> is like watching paint dry. stuart: we heard a lot about president biden's outreach to hispanics, he lost a lot of support from the demographic. what's his plan a mass amnesty program will deal with that in mind take the top of the hour. biden trump's but that we can on the campaign trail biden held a fundraiser in los angeles, trump was in detroit carting black voters, that's quite a contrast, the full stories next. ♪

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the supreme court has never been out of kilter as it is today, never i taught constitutional law for nine years and this knows more about it the most. the fact of the matter is this is never been to court this far out of step. >> at the end of the event president biden standing on stage as president obama grabbed president biden's arm to walk them offstage the dichotomy could not be more different for me president trump going to historically black church meeting voters where they worship in detroit he laid out a five-point economic plan that

includes removing tax on tips in detroit local celebrities voted democrat in the past will make a change. >> great with everything and i don't agree 100% that every thing anybody does. however, i'm not voting off of personal feelings on voting off personal experience i exchange trump as president and joe biden as president and i like the way trump as president more. didn't new usa today university poll in michigan for me president trump would receive today 15-point to percent of the black or multiracial vote president biden would get 54.4% of that boat. in the last election president biden at 92% of the black vote in some erosion in those entities. stuart: thank you very much indeed check the market the dow is down almost 100 points is been down a little bit more than that, the nasdaq is down 26, red on the left-hand side of the

screen, kt mcfarland is with us, still ahead she's going to talk about benjamin netanyahu dissolving his work had a minute undercabinet, what are the repercussions for biden. doctor marc siegel calling for warning labels on social media platforms, tom homan on warnings about the terrorist threat at the border in former detroit police on trump's visit to the deep blue city this weekend. the 10:00 o'clock hour is next. ♪ [thunder rumbles] ♪ ♪

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♪ ♪. stuart: can't you hear me knocking by the rolling stones, you can sing along with it. >> i was listening all morning. i should've gone to the concert a couple of weeks ago to see an 81-year-old vivek jagger running across the stage and not getting out of breath. good morning, everyone it is