maria: welcome back. 30 minutes away from the opening on wall street. take a look at futures this morning as we approach the opening after a holiday yesterday. dow industrials down 40 points, nasdaq up 68. mark tepper, final thoughts. >> initial jobless claims came in high her than expected, continuing claims continue to go up. the economy's looking weak. the labor market's looking a little more fragile. maria: real quick. >> i'm excited to see what happens with this presidential debate. i predict president trump is going to school joe biden. maria: jonathan. >> supreme court today, watch the immunity case and the free speech case. maria: great, great points all around. guys, thank you so much. fantastic show today. thank you for joining us. see you again tomorrow. "varney & company" is up next, stu, take it away. stuart: good morning, everyone. the markets reopen after the juneteenth break, and the top

story is, again, incredible nvidia. yes, it's up again almost $5, reaching $140 toa share. it is now solidly the most valuable publicly-traded company, well over $3.3 trillion. just about everything else is up as well. the dow actually is going to be down about 40 points, but the s&p up about 10 and look at that nasdaq, almost certain to hit new highs because of nvidia and the continuing rally in big tech. little change for interest rates, we have the 10-year coming in around a 4.28%. that's up a little. the 32-year around -- 2-year around 4.75%. that's up as well. bitcoin, $65,000 last time we checked. still there now. oil at $81 a barrel, almost 82. gas, no change, $3.45 for regular. diesel up 2 cents, $3.80. politics. new fox polls show a 3-point shift to biden in head to head match-ups. trump still leads but only just,

and he's lost ground with women. the president goes into deep debate prep mode. he's heading to camp david where he'll conduct mock debates. trump's debate prep will be holding policy meetings with advisers. the cnn presidential debate is one week from today, it and will be simulcast on fox. on the show today, if trump is reelected, the lady of "with the the view" think they'll be locked up and take off the air. it is supreme court decision day. we don't know which decisions will be handed down. the most important for politics is the question of trump's immunity. what are the limits? no matter what the decision, trump's trials and the election will be affected. look at this, the climate crowd sprays 4,500-year-old stonehenge with orange paint. the result is outrage and a sharp erosion of support for green policies. it is thursday, june 209, 2024. the summer solstice.

it is the longest day of the year. "varney & company" about to begin. ♪ ♪ ♪ we gotta get to a higher plac- ♪ and we gotta leave -- stuart: excellent. more of the late, great tom petty, a higher place. i'm sure our producers picked that on the grounds that we're going to start the day with nvidia which is, indeed, going to a higher place. yes, it is. $140 a share, up nearly $5, 3.5% up more. look like it's surging again, lauren. lauren: i'm just going to say this tree will grow to the sky in the next 12-18 months according to dan ives. he says the $4 trillion valuation, spirally possible not just for -- entirely possible because of the a.i. industrial revolution. so a.i. offers upside for the big three but also a a md, dell,

amazon, meta, google and oracle. he's estimating a trillion dollars of a.i. spending in the next decade. stuart: it's a lot to to do with nvidia, $1400 a share. look who's here -- 1400. he was grimacing whilst listening to your discussion -- lauren: i might have felt it. ing. stuart: put him on the screen. this is david bahnsen, i believe is his name. what do you think? does this remind you of the dot.com bubble? >> of course it does, and it's not about a dot come. what happened during the dot.com bubble was there were a lot of worthless companies that went way up and went away, pets.com. that's not what i'm talking about. nvidia's a profitable and big company, but, like, cisco and microsoft and intel in 1999, they went way, way up, priced in 30 years of gains in 5 minutes, and and then they spent 16 years not going up at all. and, by the way, cisco still isn't back to where it was in 1999. that's exactly what's happening

in nvidia. i have no idea when it's going to stop, but coming -- dan ives saying it's got another trillion of market capp to go, that's the kind of thing that marks the moment where we're going to look back and go, boy, what were we thinking. i don't know if it's in a week, a month or a year, but it's going to happen. and you heard it hear first on fox business. stuart: actually, there are others who said exactly -- >> but not right now, today on the longest day of the year. stuart: david, you're with me for the hour, you lucky guy. let's get to politics. just over four months til the election, and we have new fox polls. lauren, the long list, give 'em to me. lauren: okay. biden is the front-runner for the first time this year. he gets 50% of the vote, trump get cans 48%, so biden -- gets 48. so biden is up 2 points, the main reason is that voters' views on the economy hit 332. that's -- 32. that's the highest of his presidency. even though more voters trust

trump on the economy as well as immigration and israel. they trust biden on climate change, abortion and health care by double digits. i ask you, is this race about the issues or the candidates themselves? most say the issues. as for the men, more say biden and honest and trustworthy and he cares, more say trump is a strong leader and mental ally sound. -- mental ally sound. he's up 7 points when it comes to being mentally sound. that surprised me. a lot of people voting for biden would say the opposite, yet in these polls biden's up. stuart: go figure. ben domenech is with us now. why is biden now ahead in the polls? if. >> well, one thing i would point out is that this is a registered voter poll, not a likely voter poll, and i think that's something that the you should factor into analyzing anything related to that. but we shouldn't underestimate the fact that, you know, president biden really does have enormous advantages in his

corner; namely, he's going to be backed to the hilt by hollywood, by the creative community, by the media, by every kind of established organization this is out there -- that is out there to an enormous if degree. and donald trump is going to be running against all of those established orders. he's going to have to overcome that disadvantage. and that's something that i think we shouldn't underestimate here. i talk to people all the time, stuart. they come into me and say i -- up to me and say i see you on with stuart varney and i love what you're saying, but they also say i'm worried about november. and i say, well, you're right to be worried. because if you think that donald trump is someone who's going to be easily reelected, then i think that that you really are kind of whistling by the graveyard with. this is not a situation that i think is salt. -- automatic. the case has to be made, and i think it's important for the former president the make that case next week in the debate. stuart: let me look at the other side of the coin. axios is reporting biden's top

aides are getting really worried about the campaign's messaging. they're calling it a losing strategy. they say, and i'm quoting now, it is unclear to many of us watching from the outside when the president and his core team realize how dire the situation is right now and whether they even is have a plan to fix it. that is scary, end quote. at this late stage, ben, with biden's physical and mental troubles, how can the campaign, biden's campaign, how can he change course? >> i don't think that he can change course, and and that's why they're leaning so much on these incompetent people that he's surrounded himself by including, you know, kamala harris, tony blinken and others who they are rolling out, you know, secretary mayorkas is not exactly, you know, your champion that you want to be out there, you know, managing things in the ring. and yet i think that that that's what they're trying to do, they're trying to basically clean on -- lean on these err people within his cabinet in order to make up the ground that the president himself should be trying to make up himself. he's not able to do that. he's not capable of doing it.

and so he's going to, instead, depend on all these different major institutions including, you know, the corporate legacy media, including hollywood, etc., to make that case for him. and that's something that i think the american people are smart enough to see through. i have trust in them and in their judgment. but, you know, if they don't and if donald trump is not able to make that case that cuts through that, then we could be seeing something that would be an enormously horrible -- [laughter] thing for the american people in terms of the re-election of someone who is essentially a dead horse dragged across the finish line. stuart: oh, man, you're killing the buzz here, ben. you really are, man. but that's okay. it's the longest day of the year, got a long time to go. [laughter] ben domenech, see you again soon. gotta get to the markets on this thursday morning. show me futures, please. not that much price change. look at the nasdaq, nice gain right there. david bahnsen, the big tech rally continues. do you have a problem with that?

>> no, i don't have a problem with it, it's just important for people to understand that index investors now thought they were diversifying with 500 company, and and they more or less own 3 or 4 companies. it's really the highest concentration in history. how much are in 10 companies, 7, 5, 3 -- stuart: you think that's a problem. the concentration. >> it's a big problem, because it all helps when the momentum is one way, can and when the momentum reverses, it can escalate very quickly the other direction. stuart: okay, thank you. the heat wave intensifies. janice dean outside -- right here in new york city. janice, tell us, how bad is it going to be today? >> it depends if on where you are. here in new york city we're going to get into the 90s, this is happening all up and down the 95 corridor. but the big with takeaway is it's happening in areas that don't typically see or feel this type of heat, places like bangor, maine. max 17 will show you the heat alerts for millions of folks

aloss the cho valley, the great lakes, major to extreme heat today, and this has been long lasting. it's been all week long. that's the danger. we have record-breaking heat in maine, and that's for any month. not just june. they tied the daily and all-time record set in 2020, 1977 and 1944. that is significant. a lot of these areas in northern new england don't have air-conditioning, so to have this kind of heat for a proto longed time is certainly something we need to note. bangor, maine, 9 a 5 today as the daytime high. manchester, binghamton, scranton the, all to these cities expected to hit record highs, and there's the heat index. that's what makes it dangerous. the humidity makes it feel close to 100 degrees, and for saturday it continues especially for washington, baltimore and philadelphia where it's going to feel well over 100 degrees. there's d.c. your warmest daily heat index, so into the 90s today and tomorrow, but 104 and 105 on saturday and sunday.

and it doesn't really, you know, relent for parts of the mid-atlantic. the northeast, we do have a cold front that's going to move through this afternoon and this evening. that that will bring some relief to northern new england, also bringing the potential for some scattered storms. some of them could be severe. and then we also have the potential for severe weather across the plains states. and something we didn't mention, a land-falling tropical system, alberto, and that is bringing heavy rainfall along the texas gulf coast. the bottom line is today is the first day of summer, and we're already feeling the heat, stuart. back to you. stuart: janice dean, see you later. next case, hezbollah is ramping up threats towards israel. what's the risk of this conflict turning into a wider war? general jack keane on this. maryland's governor, wes moore, says the border crisis affecting every single one of us. roll tape. >> when people think about the border crisis and think this is only impacting a handful of states, this brutal murder happened 1800 miles away from

the border. stuart: next question, is i.c.e. still constrained in sanctuary cities and states? former acting i.c.e. director ron vitello on that next. ♪ ♪ (husband) we just want to have enough money for retirement. (wife) and travel to visit our grandchildren. (fisher investments) i understand. that's why at fisher investments we start by getting to know each other. so i can learn about your family, lifestyle, goals and needs, allowing us to tailor your portfolio. (wife) what about commission-based products? (fisher investments) we don't sell those. we're a fiduciary, obligated to act in your best interest. (husband) so how do your management fees work? (fisher investments) we have a transparent fee, structured so we do better when you do better. at fisher investments, we're clearly different.

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stuart: more grim details about the illegal migrant charged with the rape of a 13-year-old girl in new york city. alexis mcadams a joins me now. >> reporter: all these details are coming in, and if we didn't think it was bad before, the new details are even more horrific. this migrant told investigators he tied up the teens and and gagged them with cloth in their mouthed, and -- mouths.

first, he said he was nervous but got comfortable, so he recorded the attack the including the rape. now he's looking at a lifetime behind bars. you can see him on your screen, he's handcuffed walking out of that the police precinct in new york city. he's now charged with predatory sexual assault, rape and kidnapping among other serious charges. investigators say last week the 25-year-old held the two teenses after knifepoint then cut off the girls' undergarments with that knife and raped her at a new york city park. immigration authorities had a sample of his dna that they matched with the dna on a water bottle left near that crime scene in queens, but it was the description of this tattoo you're looking at and of the suspect from these teenagers that helped investigators track him down quickly. >> from what they went through, their identification, their, you know, their memory of the tattoo, the braces, all which was right on point. which is a remarkable thing for

two 13 if-year-olds to remember. >> reporter: he entered the country illegally back in 2021. where did he cross? right near eagle pass, texas, like so many others, telling border patrol he was heading to an address in queens. neighbors doing everything they can, jumping into action like in this video clip including the takedown on tuesday the when a migrant -- this migrant showed up at a city bodega and was held by locals until the cops came. >> one of the good samaritans waited there hours hoping he would come by to buy something and, sure enough, he did show up. >> reporter: inga is back in court on july 1st, waiting to get more details then. but to hear what these kids went through and the 13-year-old was gagged -- it's just hour remember louse. stuart: and he's an illegal migrant. listen to the what democrat governor wes moore says about the crisis. watch this. >> when people think about the

border crisis and think this is only impacting a handful of states, in our state where this brutal murder happened is 1800 miles away from the border. so when people think this is only impacting a few states, this is impacting every single one of us, this inaction that we continue to see to get any form of sensible immigration policy done. it's impacting all of us, because all of us deal with the consequences of this. stuart: i.c.e. director ron vitiello joins me now. sir, is i.c.e. still constrain thed in sanctuary cities and states? >> well, that's a very good point, stuart. thanks for having me on. yes, exactly right. you know, there is a problem with the way the policy is enacted at the border today, right? this presidency, the biden presidency, he blew up all the control levels that they have. but you do have states like maryland, massachusetts, california that refuse to cooperate with the men and women on the front line of dhs, and

they don't want to cooperate with i.c.e. when people like these criminals get taken into custody. they should be turned over to federal authorities so they can be removed from the united states and so, yeah -- stuart: but if it's so obvious, why doesn't this change? look, it's so obvious. why doesn't it change? why do we still have sanctuary cities and states? >> yeah. well, the last administration took the it on, they were not successful in the courts. but this is going to have to be done by the people. they're going to have to elect people that want to represent them, have safe communities and safe streets. and part of that is making sure that criminals that are in the country illegally don't have a sang sanctuary here. stuart: right. experts are warning that the threat of a terror attack in big cities like new york, washington, dangerously high. ron, has the terror threat ever been higher? >> i don't believe it has. but we were uni aware before 9/11 -- unaware, but since 9/11 the government, the people, everybody realizes we had to do

the different things about who came and went into the -- left into the country. a lot of those things have been shored up. but right now for the last three plus years under the biden administration we've had a border that's out of control. and it's not just people coming for a better life, it's not just people coming from a certain region in the hemisphere. these people are coming from all over the world. the latest, you know, impactful example is what happened with these eight folks from tajikistan who not only came here illegally and were released into the united states by federal authorities, they were plotting something that, luckily, the fbi and homeland security investigations found out about and took them back into custody. but that risk exists because of the policy, because of the flow at the border and because there are people in the world that still want to a tear down the west. stuart: very true. ron visit tell low -- ron vitiello, see you again soon. another illegal migrants has

just been arrested for vehicular homicide here in america. what happened, lauren? lauren: one person killed and one injured in colorado after that illegal immigrant was driving a semi truck with pipe, it rolled over. the highway closed for 12 hours. the driver is an illegal immigrant removed from the u.s. 16 times in the past 22 years. he's been on i.c.e.'s radar since 2002. removed either through deportation, drug trafficking charges or voluntarily. he's being held right now on $50,000 bail. stuart: that tells a story, doesn't it? check those futures again, please. it is the thursday morning. we've got a mixed picture. dow down 40 but nasdaq up 50 points. the opening bell is next. ♪ everybody was dancing in the moonlight. ♪ dancing in the moonlight, everybody feeling warm and bright ♪

stuart: premarket, dow down 20, s&p up 11, thes nasdaq up 56. gary kaltbaum with us this morning. are you still holding on to your big tech stocks, gary? >> yeah. we're quite happy. our nvidia now is in triple digits this year. but you can call us very, very

scared as they keep going higher as we're getting into some extreme numbers right now. but so far so good, and on a daily basis they're getting bid higher. stuart: do you think that the concentration of money going into big tech, is that a problem for the overall market? >> it's going to be a huge problem eventually. i listened to david bahnsen earlier, call me a bahnsenite on this in that we have studied every bull and bear market especially the extremes, and extreme bear markets you can pick things up ridiculously cheap and just normalcy gets you making good money. and in the top of big, extreme bull markets, you get the opposite. and the best example, i probably spent 500 hours on 1999, 2000, we're headed that way. we're not there yet and hopefully we get much more higher prices, but all this concentration's too much. it's portfolio managers selling everything to buy into a select

few because that's what's working. and and i remember in '99 housing stocks got to one times earnings even though they had a growing businesses and very good businesses, and the stocks soared while the rest of the market took a hit. stuart: so you're saying the bigger the rally, the bigger the drop. is that what you're saying? >> the farther the concentration goes, the farther the rally, the rougher the tumble's going to be. my hopes are we get some corrective work in here, settle things down and stair step up, not go vertically up. and we're seeing some vertical action in some of this a.i. stuff right now which, by the way, i own and i'm a happy camper, but i'm pretty sure i know what the final outcome is. and usually there's some territory underneath that will occur. but as of this second, uh-uh think we're still in pretty darn good shape. stuart: when do you know when to get out? >> you don't know exactly when. you don't predict it, but you'll start to see the action of it.

if you remember march 8th, we had this massive, heavy volume reversal a, and that a started a darn good correction for a couple of months. we'll get something like that. in other words, you'll be able to look at a hart and you'll see like the -- a chart and see the space needle like you see in seattle going straight up, and that'll probably be close dot -- close to the end. it's the same thing that happened in '99, it's the same thing that's happened in every climactic move throughout history. stuart: gary, i'm going to thank you very much is. i'm going to get back to david bahnsen. what's your comment if on what gary had to say? >> appreciate gary's kind words. i agree with him entirely. the action from '9955-'99 is instructive -- '95-'99. i don't think it's going to be easy to time the exit. i'd rather be with early than late in the exit. stuart: got it. david bahnsen, thank you very much, indeed. it is now exactly 9:30 eastern time, and the market is open. we're going to open on the downside for the dow but not by much. that's not much red ink, down 30

points, that's it. 38,800 is your level. there's a predominance of sellers among the dow 30. the s&p has just hit a new intraday, all-time high. look at it on your screens, ladies and gentlemen. the s&p opening with a small gain. can we get it up there? we're going to, i promise you. there you go. s&p hits an all-time high, 5496, up 22 points, .42% higher. now the nasdaq composite index, home of technology. about one-third of 1, 50 points higher. 17,9 is your level are. all right, here's big tech. i presume they're all doing pretty well. yes, they are, except microsoft and apple, both down just a fraction. microsoft off 30 cents, apple down 49 cents. let's get to nvidia. yes, another all-time high. that stock is $139 a share. trading's open. it's up $3 today, 2.7%. there you have it. i want to focus for a moment on meta.

"the wall street journal" reports that into into gram is pushing -- intra gram is pushing explicit contact on teens. lauren: this was an extensive investigation, seven months of testing on the content that a intragram is pushing to minors. they found within minutes of logging on, kids are being shown racy and sexualized content. researchers found this a happened more on instagram than on snap. but the thing is that all social media companies are under fire, and they say, yeah, we have this teen clean content. but in reality their algorithms might be pushing who nose what. stuart: care to comment? >> i would suggest they have a very different standard of what i consider clean than they do. [laughter] stuart: leave it at that. >> yes. because they're wrong.

this stuff is getting to teenagers, and it's disgusting. stuart: got it. take us through some of the earnings reports that came out before the belled today. lauren: sure. darden restaurants, a parent of ruth's chris steakhouse. the ceo says they expect the traffic trends to improve gradually throughout the year, so things are getting better even though they weren't so good for the past quarter. same-store sales were flat. they were up at longhorn, but they were down at their fine dining chains, so that tells you a little bit about the bifurcation of the consumer. stuart: what have we got on kroger? lauren: we're cooking at home. that means more food shopping. stock's up just a bit. steady grocery demand, they're offering more promotions. they are lowering prices where they can, and i say that because the ftc really does not want to approve their deal to buy albertson's in the name of competition, so so kroger is lowering prices to say, hey, it's okay, if we get bigger, we're going to be better for the consumer. stuart: whenever i buy a stock, i want a capital gain with or a

big dividend. i don't think you get either with kroger. lauren: david? stuart: unexciting. >> it is now, but this albertson's deal is a good deal, and the ftc has no basis to deny it. stuart: but they will deny it. >> but they end up losing in court. that's what keeps happening. stuart: takes all this time. winnebago, the profits were down. lauren: so is the stock. profits fell, sales fell almost 13%. the ceo says the outdoor markets, that's the industry, outdoor recreation, it's been tough. there's tight inventory because the dealers are being disciplined and not much yet for customers mers the -- customers to buy. new products at the end of the year. stuart: ferrari's going to come out with an all-electric vehicle. i don't know when. i think it's 2026? lauren: the end of next year. stuart: look at the stock. that thing must cost a fortune. [laughter] lauren: it's almost fun to say. the base price is $535,000. >> biden should demand that

consumers buy it. [laughter] that should be, like, middle income people should have to buy it, right? stuart: absolutely. this is electric. lauren: okay. the ultra-rich can afford that, no big deal, i get it. but then you cement the ev market -- [laughter] >> $535 if -- 535,000 for a ferrari vehicle that can go half a mile, and then the it has to be recharged -- stuart: you're being star a castaic. it's up 3 today. lauren: it's hard to get. there's going to be a really long wait list, and that makes you even cooler. stuart: what do you think it takes to make you super rich? 100 million? lauren: super rich? 100 million. stuart: david? >> i think it is defined -- lauren: oh, dade. [laughter] >> i'll give you a number. it's about the number you generate. a minimum of $50 million to be considered super rich. stuart: scroll up. how are utility stocks handling

the heat wave? well, i take it. lauren: so the unregulated utilities have soared this years. constellation energy is up 88% this year. you have to think about it like this, the economy is electrified. sure, your air a conditioning, but also a a.i. and all the computers this use energy. as i said, most of them up sharply this year. so basically saying utilities are considered growth stocks in a way. stuart: yeah. that nrg is unregulated. they can do what they like with the price, and the stock goes straight the up. got it. dell and super micro, they're looking to help power elon musk's a.i. advancements. what's that about? lauren: and they're telling us about it. it used to be secretive. elon musk says they're supplying the racks to power the next generation of their chat bot, grok. unusual strategy. usually, you're secretive about the next big thing in tech, but musk is giving us all of it, and

dell is agreeing to it. stuart: dell's gone up again, and super micro is up -- lauren: up 320% in the past 52 weeks. stuart: good lord. a big sigh from david here. >> yeah, what could go wrong? we've never seen anything like -- stuart: you're sighing because you missed it. >> no, i'm not. we don't chase this stuff. i get what you're saying, but let me say this: you cannot be encouraged by seeing everyone pile into these things indiscriminately. it's impossible that they're all going to win out. so at least the nvidia with argument was that they're going to beat everybody out. but not everyone can be having this happen at once and even the top of the food chain, it's the gotten way out of control. that quickly, they fall hard. it's just a fact. stuart: okay. you know what we all wait for when you appear? >> i do. stuart: your conservative tend picks. you're going to start with blackstone of which i own a thin sliver. >> yes, i know the person who recommended it to you many years ago. and when i recommended it,

stuart, it was about $20 paying 8%. now people look at the dividend, oh, it's only 4%, except for they've grown the dividend 400%. it's just simply that the stock has gone up so much. sitting here at a $123 right now, blackstone is the leader in hedge funds, credit, real estate in the world. let's see now, 13 years we've owned the stock, they have become gold standard on wall street for asset management. stuart: but you like stocks which pay a growing dividend -- >> and that's why we love blackstone. stuart: growing from here? >> absolutely. they grow it year-over-year. they've averaged since we bought it double-digit annual growth of the dividend. stuart: johnson and johnson -- johnson & johnson. >> since world war ii the dividend's grown every single year,ment and stock now 145, the dividend's often been in the 2s, but it's down about a $20 or so from where it was. so some of these names as the market has gone up have gotten cheaper.

johnson & johnson's one of them. this is a high quality name that you can buy $20 cheaper than you could a few months ago. stuart: and yields? >> about a 3.a -- 35%, and it's grow -- 3.5%, and it's grown every year. stuart: this is a brand new luxe i high-rise in california that just opened, and it's being used as a homeless shelter. it's funded by taxpayers. believe me, we're going to cover that story. nearly 100 million americans under heat alerts this week. that brings health problems. what are the symptoms of can dehydration? c. marty makary deals with that. and new fox polls show a majority of voters pessimistic about the economy, and more than 40% are falling behind financially. we'll break down trump and biden's differing pitches on the economy next. ♪ ♪

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♪ ♪ stuart: a new fox poll shows president biden leading donald trump, first time that's happened since october. but a majority of voters are still pessimistic about the economy. edward lawrence ats white house for us. edward, break down each candidate's economic agenda, please. fox news polling showing 50% of registered voters support president biden. 49% support former president trump, that's within the margin of error. part of this might be because some folks are feeling a slight ease in overall inflation even though prices are remain 19% higher than when president biden came into office. still right now 32% of registeredded voters feel the economy is good or meant, and 68% see it as poor or only fair,

a 2-point shift from the last pole. -- poll. 58% disapprove of president biden's performance on the economy, 62% disapprove of his performance on inflation, about the same amount on the biden job performance on immigration. republican voters see through the president's sudden change on some policies. listen. >> the democrats don't have anything to run on. they can't run on biden's economy because we've got bidenomics and inflation. his energy agenda makes energy more expensive k and they cannot run on safety and security because we have a wide open southern border. it's a prime example of why the democrats are going to fail in november. >> reporter: democrat sporters of the president show -- are turning their argument away from the issue and targeting his opponent, former president donald trump. listen. >> i'd say it's democracy, i think it's about the economy. but we are running against a convicted felon. and let me finally say that the issue of choice, donald trump's

supreme court is the reason women have seen their rights the make their own decisions about their body being taken away. >> reporter: now, president biden will go today to camp david, gila will lay -- he will lay low as he prepares for the presidential debate. we do not expect an appearance or hear from him since or until that debate, a week frommed today. stu? stuart: edward, thank you very much, indeed. come on in, peter morici. all right, peter, as far as investors are concerned, is the economy improving? and as far as voters are concerned, is the economy improving? >> i guess you could say that it's improving because it does continue to grow, it does continue to generate jobs, and inflation is down to 3% plus as opposed to 6 plus. so those are good things. the question is, are they better off? investors surely are. and if we don't have the kind of crash your co-panelist is predicting, they'll remain better off, and i don't think that we will.

we may have an adjustment. but ordinary working people, the fact is that wages are lower now than the day that in real terms than when joe biden took the oath of office. if you contrast that with donald trump, oh, the terrible racist donald trump was, real wages were growing for everybody. minorities perhaps most of all. their wealth was increasing and so forth. with joe biden the real elements of middle class life keep getting further and further away. you can't buy a house, you know? you can't send your kid to college, not without terribly indebting them and so forth. things he promised to fix are still broken and getting more broken. they basically ran a kangaroo court in new york that a even senator romney who voted for impeachment criticized. anyone else would have been plea bargainedded out on a misdemeanor. my feeling is, is that they're manufacturing an issue because they have to run from their record. stuart: okay. one last one, and this is a subject that you brought up

before which intrigues me. the number of foreign-born workers employed in america hit 31 million in march of this year, and that's up 100,000 from the month before. peter, can we conclude from in that 100,000 migrants are added to the work force each month? >> i don't know that we can conclude 100,000. i don't know what the exact number is, but it's a lot more than we admit legally. if you look at what we can -- the labor force growth that we can have every month, it's about a 80,000, 100,000 tops. yet we're seeing jobs numbers in excess of 2000,000. so you have to say that in some way or another that people who sneak across the border are getting employed. now, give you an interesting -- i was looking at a individual industry wage statistics this weekend, you know, economists don't have anything better to do. you know when they're really jumping? home construction, apartment construction and so forth. where do illegals show up? home construction -- we've only

got to look around, for pete sakes. they're not going to get government jobs. people are very creative in that a sector. there's a lot of informallty in that a sector. so my feeling is they're getting into the labor force, and if we don't have them, we're going to have even bigger troubles. we need a better immigration policy that processes more people. stuart: you got it. peter morici, thank you for that. david bahnsen listening to all of this. should migrants be allowed to work? >> let me make a point that 46 million foreign-born people are in the united states illegally, that's in that a data. so we can't know if it's 100,000 are all illegal migrants. your question is should they be allowed to work, and my answer is as a person of tremendous compassion and i sort of have a soft spot on this issue, ill like to say yes -- i would like to say yes, but we can't because there's no trust, no credibility. hay didn't protect the border, now it's out of control.

9 i want the people to come here legally and, yes, for there to be jobs for them. that's not where we are right now. stuart: got it. thank you very much, sir. the left is creating a climate of fear. the ladies of "the view" believe that if trump gets a second term, they will be locked up. an exaggeration there, perhaps? if that will be my take, top of the hour. the supreme court will release more decisions at the top of the hour. the big one we're waiting for, presidential immunity. we're also a waiting for other cases which have major implications for business. the full report is next. ♪ i was made for loving you, baby. ♪ you were made for loving me. ♪ and i can't get enough of you, baby ♪ trading at schwab is now powered by ameritrade, 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 -

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>> all eyes on that trump immunity case that has huge implications for that january 6th case pending out of d.c., but we're also a watching for some other cases with big implications for business. social media/free speech administration, the reach of the federal administrative state and a really big bankruptcy case that the supreme court is

hearing, the biggest in years. we're talking about the opioid case that involves the settlement for purdue pharma. as you know, the company declared bankruptcy and agreed the pay more than a billion dollars into the settlement. that money will be distributed the people and states impacted by opioid addiction. well, the sackler family also agreed, stuart, to pay $6 billion into the settlement, but under the deal the family will get immunity from future lawsuits even though they are not declaring bankruptcy. so the biden department of justice and just a handful of plaintiffs, they want the supreme court to set aside that settlement. big implications for that as well as how bankruptcy cases are handled moving forward. we're also waiting on an opinion in a case brought by a group of fishermen challenging the reach of the administrative state after the national oceanic and atmospheric administration ordered the fishermen to pay $700 per day for federal

government workers, observers, to board their vessels and and watch what they do. the fishermen say that's overreach because congress never passed a law that a says the fishermen have to pay up, so they want the supreme court to overturn what's called the chevron doctrine which gives these agencies discretion to essentially enforce laws made by congress. but there are huge implications here for the biden administration's efforts to push the green agenda. and now finally we're expecting two opinions that could establish guardrails on what is protected free speech on social media. one case asks whether the government can require social media a platforms to host speech that the platform wants to take down and the other asks whether the biden administration overstepped constitutional protections when it purchased social media companies to take down content that the government did not like. so a lot to watch with, stuart. stuart: lydia, thank you very much, indeed. david, thank you for joining us for the hour. we always appreciate it. still ahead, kaylee mcghee white, former acting attorney

general matthew whitaker, dr. marty makary and arizona a border sheriff mark can ills. the 10:00 hour 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] ♪ ♪ (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪)

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