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tv   Mornings With Maria Bartiromo  FOX Business  June 28, 2024 8:00am-9:00am EDT

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>> welcome back. good friday morning thanks so much for joining us this morning. i am maria bartiromo. it is friday, june 28, 8:00 a.m. on the east coast, hope you are having a good friday morning, what a night last night showdown between former president trump and president biden even shocking democrats fox business grady trimble live in atlanta right now with more on the story grady. >> good morning, maria. president biden failed last night at what was probably his main objective, to allay fears he is too old for four more years spent a week up at camp david preparing this is the
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result. >> there is a lot of young women being raped by in-laws by their spouses. brothers and sisters just ridiculous that two trillion dollar tax cut benefited very wealthy, fix taxes, for example, a thousand trillion onaires in america able to do with covid excuse me dealing with everything we have to do with uh -- >> look. if -- we finally beat medicare, i am going to continue to total ban, to -- total initiative, relative to what we're going to do with more border patrol and more asylum. >> have i really don't know what he said at the end i don't think he knows what he said either. >> halfway through debate we started harg from biden campaign the president had a cold a way to sort of explain
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what we were witnessing, people in the democratic party trying to figure out what to do after biden's performance, kamala harris california governor gavin newsom and others, though, shrugging off. >> i would never turn my back offer president biden i don't know a democrat from that party would do so especially after tonight we have his back we run 90-yard dash all-in going to did you believe down next few months we're going to win this election. >> former president trump appeared subdued focusing on his policies during his term as president and blaming president biden for the border crisis and inflation both trump and biden have campaigned events tonight no doubt all eyes on biden after what was bad performance last night maria: for sure grady, thank you grady trimble joining us
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this morning, hot topic of the hour an unedited video of dr. jill biden leading joe bidenoff stage not a fake the melting down after the performance this morning and rooifrt the debate last night. >> that was painful, i love joe biden, he didn't do well at all doing the best that he can. but he had a it have the to meet, to restore confidence of the country and base. he failed to do that not what we needed from joe biden personally painful for a lot of people not just panic it is pain. of what we saw tonight. >> then not only one feeling pain, saying this is the end of the president biden's reelection campaign even allies in mainstream media are admitting this is bad time mag writes calls for biden to step aside about to get deafening, cnn rights biden's disastrous
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debate into politico writes biden is toasty associated press writes debate watchers in biden and trump camper seem to agree on something biden had a bad night "usa today" writes a disaster so far freezing onstage during debate draws fire on social media, fox news anchor, anchor of the story executive editor martha mccallum, so i appreciate you joining me. >> good to be with you -- >> you have moderated plenty of presidential debates you've done an incredible job doing so, straight down the line, in the middle, what is your reaction to how cnn played it last night. >> thank you, maria. honestly, i thought that, jake tapper dana did a solid job tried to get or an to foreign policy all the issues that are on people's minds of but i would imagine, that they like everyone else watching,
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were somewhat distracted by how poorly joe biden was performing up there we were only 12 minutes in when the first freeze happened. and it ended with a sentence that said and then we killed medicare, you know, i mean pretty clear from that point that joe biden was -- not -- not feeling well they said he had a cold but b, had not benefited from all that training, and six or seven days at camp david, maria, what we heard in the "the wall street journal" report several weeks ago about what was happening behind closed doors what we heard from robert hur that this wars elderly man with a memory issue, that should not be prosecuted, what we have heard from all of the behind scenes reports, we now know i mean what is actually going on the here. it is -- it is not pretty. what is going to happen now i think is really anyone's guess
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i think kind have to,, to assume he is stepping aside. maria: can biden be removed from the picket we've seen read all media 48dz headlines democrats quoting freak out won't him replaced, 40 days until democrats need to nominate to qualify for ohio ballot what is the next debate looks like? that is september 10, do you think going to be, biden trump there is a report this morning says the analyst could well have been third final biden trump debate what do you say. >> maybe i think too early to say what happens september 10 first thing i am looking for what happens today in north carolina is joe biden going to appear at a rally planning to appear at? that will send a signal that they are going to push forward, on, or do they cancel
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is not feeling well cold kicking in a couple days back on trail givers time to think this over he won 90% of 4,000 delegates he wove to step aside. himself. they cannot remove him from that ballot unless he decides to step aside would start the process of an open contravention put kamala harris out on all other networks to speak that was not planned, okay. so they are in about scramble mode we will see what happens the north carolina rally today as first indication. >> i like that this good what i look at martha thank you for that i ho know kamala harris skied on msnbc last night well he had slow start it was a strong finish i didn't see that strong finish, did you -- >> relatively speaking i think putting together sentences, better as it got towards the end but i -- i mean come on, you can't sugarcoat i don't know what else he was supposed
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to see you honestly, she maybe looking at this situation, like, you know, pick tap me tap me on the shoulder i am ready to go. maria: quickly bring in lee carter marsha get her take on this because lee, we've got dnc convention august 19 can they swap biden out? what are rules here given the fact that the party primaries, during that time they've secured 99% of the pledged delegates. lee: as martha said would require joe biden to accept down, i absolutely agree with what she said we have to see what he does today is he sending signals he is going to stop pursuing the office i am not sure going to do that we haven't seen any signals he is ready to step aside. >> martha final word what should we expect today. >> i think talking a lot about this maria, we have a couple of democrats who are going to be joining us. i i mean, they will be asked
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questions about, you know, chris going to join us in delaware very close to joe biden we will ask what his assessment is last night what he recommends for close friend person he supports going forward. >> we will watch martha great to see you martha maccallum joining us today thanks we are getting started we are staying on the recap of last night's jaij showdown cnn presidential debate hear from kellyanne conway, stuart varney will join me we worked at cnn together stuart and i giving our thoughts on debate from cnn perspective you're watching "mornings with maria" live on fox business. stay with us. .
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what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ night here is cnn fact-checking biden, watch. >> president biden also made false claims at least in my opinion false or misleading statements first count i give you some the only president in a while did not have troops going anywhere in the world, died on his watch. >>, of course, joe biden did not mention the 19 officers dilled during botched afghanistan withdrawal maybe he forgot actually checking his watch several times during dignified transfer for fallen troops let's focus on foreign policy your reaction. lee: so what voters said last
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night was that joe biden did not perform on foreign policy that donald trump delivered, one of the things they really liked when they heard from donald trump he have a was able to talk about, our enemies, name them, talk about how things would be better what he would do if he were in office, i think joe biden had a failure to get his plan across. people not focused on what donald trump did or did not say they are focused on what happened with joe biden, and where we go from here because his performance was just so -- so bad, five undecided, four decided going to vote for donald trump after watching that performance. maria: why wanted to hear from both what they were going to do next four years we pretty much know policy trump wants to cut regulations extend tax cuts end war in ukraine gave as you couple things i didn't hear a lot of
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looking forward in joe biden he released his budget chris, told us about the 7.3 trillion-dollar budget for '25, 5 1/2 trillion dollars tax increases. >> trump more policy driven got points out last year to expect people seen it before they worked for biden to reject that a mistake especially in foreign arena want decisive leadership crisp decision may have beening have gone important they saw biden stumbling over words billion trillion concerning, people responsive no question won the day. maria: ly for months we've been pointing out joe biden's vulnerability, for months talking to doctors, doctor greg murphy head of the doctors caucus said joe is
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going to be jacked up ronny jackson the white house doctor for 14 years, doctor for trump, biden and bush said he needs to take a drug test he has dementia what did democrats do whole time? blow it off, this doesn't make sense ignore it okay. it is their fault here we are a couple months from election why did you blow this off so long why did you make-believe this wasn't happening when the whole world has watched him on the world stage with gaffes. lee: i think they convinced themselves because he performed every time he had to adequately going to be to carry this one bench so weak they don't have anybody else to turn urn to not another person can match against donald trump. maria: that is it even the contenders could take over for him i am talking kamala harris, gretchen whitmer gavin newsom don't poll well compared to trump. lee: they absolutely don't for a variety of reasons, still as i really grim situation for the democrats to
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be in, especially if people are saying they are considering, replacing joe biden with one of them right now. maria: look, let's take a break breaking news coming up markets higher ahead what have could be a market moving number may pce index out did 10 minutes sometime stephanie pomboy is here with expectations there, you are watching "mornings with maria" live on fox stay with us. . ♪ ♪ . coming out tonight ♪ ♪ .
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interest rates for 10-year treasury yield up ahead of federal reserve preferred inflation measure this morning, may pce report out 7
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minutes' time the yield on ten year sits at 4.30%, that is up almost two basis points economists expecting core prices in pce up one-tenth of a pastor month-over-month up 2.6% year-over-year joining mme macromavens president stephanie pomboy thank you so much for being here you've got one of the best research shops out there your take on macrostory here, give your expectations for the pce and how you see the economic story today. >> well thanks for having me mar i've got biden syndrome here, i am continue to see real signs of a acceleration in the slowdown consumer spending data recently has been really disappointing, we've had several major industry groups lining restaurant industry and hotel
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industry, research outfit downgrading forecast, for the rest of the year, the travel research authority on hotel industry lowered its forecast for both occupancy rates and russian for 2024 . >> and revenue, the s&p 500 restaurant index logged its worst relative performances to the market in over a decade. so, that area that has been sort of a last leg of strength, in the consumer that spending on travel, and restaurants, has clearly crumbled i see will see that in numbers you saw revision first quarter gdp number yesterday took consumption number down another 1/2 a point to 1 1/2% first quarter when you strip away stuff that they can't, housing an
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healthcare you basically have no growth in consumer spending, the whole story, 53 of the 56 billion increase in consumer spending housing an healthcare for the first quarter so i think consumers in recession we are waiting for the markets to figure it out. and you know we will see how long that takes, you are looking at averages that are performing well this year but beneath the surface things look more challenging 60% of the stocks within the s&p 500, index are underperforming, that as i huge swath of companies that are you know down i'm sorry they are down sorry flat or down, you know, today. that is -- that is really weakness under the surface. >> you are saying a narrow really headlines say s&p up 15 nasdaq up 19% but the rally
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magnificient 7 like nvidia google the rest. >> everyone is wear that have in terms of price perform but there is less attention paid to the earnings discrepancy diverges in earning enormous as well analysis first quart earns season said earnings up 5 1/2% first quarter if you take away magnificent 7, down 2%, so a average company is losing money out there that is no surprise, because if macro person like me look at what happened with real retail sales the consumer drives this economy generally, when krug back discretionary spending bad nine. when real retail sales adjusted for inflation are declining i think headed for
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profits of recession you are seeing it be neither the surface when you strip away magnificient 7 companies. >> let me create chris in chris hear what stephanie is saying is a consumer in recession if market catches up going to hit profitability, that, of course, is what leads to stock market your reaction. >> i think stephanie has good point the real issue around the consumer running out of cash we are seeing companies hit nike walgreens hammered people have money to spend there is that wall of cash sitting out there, a call yesterday for the fed not to cut any tax cuts important to admit ignite what stephen is talking about i think we see interest rate cut disparity in price per share opportunity in dow before end of the year more selective there is opportunity in val stocks i
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think will override as that wall of cash comes. >> what about that stephanie one of the most important factors support the market can we have going higher six trillion dollars in market money accounts how do you see so that? we have harder this money mountain story many times before if earnings forecasts are downgraded on prospect economy goes into recession going to ask a much risk off defensive price of market and favor some value oriented companies to be sure hurting growthy areas driving this market so i have no problem with that. but i think the issue is that at that point you are trying to gain relative performance in a market that in absolute terms will be going lower, as you know,, risk is taken off the table people kind of
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reduce across the board this moefrn market thing arch for a while the crux of the argument is that fed going to cut rates, and you know that if suggest imf so you gos to wait a year, if one, forecast the economy fed is imfodes got that wrong but i do expect the fed to cut as i said many times i think will cut after wheels have fallen off the risks appetite has already left the building so i think it will come after markets have had a significant drawdown, so would i be staying on the sidelines right now waiting for better opportunities. >>, by the way, futures marketing pricing in 64% chance fed cuts rates in sept septemberr your clients talking about debate. >> i think really important i
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had mentioned to you earlier cfo found a lot of cfo's delaying capex waiting to see outcomes of the election if od. ds of trump winning went up interesting to see in any kind of increase in cap spending so far just technology we haven't seen seen material increase in capex, if we see that that could be a huge game changer, but that is the main thing that people are going to be focused on, is what are the odds pro-growth, business policy coming out of the white house, in the future, and we're all waiting and hoping. >> yeah meanwhile, we've got may pce index just hitting the tape right now liz liz. lauren: expected steady as
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she goes core numbers first, month-over-month, may core number came in .1%, the annual number came in as expected, 2.6%, down from april 2.8%, lowest since march of 2021, pce not core level overall flat as expected after three months gains .3%, and year-over-year, up 2.6%, also as expected and both numbers down from april. in terms of personal income, rising much stronger than expected half of 1%, in the month of may have my eyes glued on futures reaction not much right now, to these numbers the fed does want confidence that inflation is getting back down to 2%, we've got it down to 2.6% at the core level in may in right
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direction not there yet. maria: benign numbers as far as i am concerned no movement really nasdaq off highs certainly, specific to me your reaction to these numbers? >> well, i would say that in the first quarter that they just revised, they revised up the core pce deflator so this is welcome news i guess, more current. but one thing that is even more current is the nine dollar increase in oil prices started this month huge to inflation that goes through everything even if you want to strip out food and energy component higher oil prices in food, everything, i think too early to celebrate, and the fed still got quite a rocky road ahead of them. maria: all right. we will have leave it there always a pleasure stephanie
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till we get a total ban total initiative relative to, more border patrol, more -- >> president trump. >> i really don't know what he said the end of this i don't think he knows what he said either. look. >> not exactly what anybody wants to see from america's commander in chief that was president biden at cnn presidential debate last night gaffes rambling on and on full display the biden campaign claiming he had a cold during that dismal performance we've got unedited video showing first lady jill biden leading the president each of stage end of the. >> it democratic sources telling fox news everyone freaking out unquote biden quote needs to go unquote there is no rereplacing him quote unless he agrees unquote joining me "new york times" best-selling author, fox news contributor former senior counselor to president trump kellyanne conway your reaction to the debate. >> i think, the democrats
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don't want to talk about replacing biden don't won't to have us remember, six to 12 months ago 70% said guy shouldn't run again majority democrats, senior democrats have ignored the will of the very voters so weak so wracked by trump did he rangement syndrome couldn't do responsible thing for country have this man vice president step aside 18 months ago replace with policies, just as bad, so let's not forget what real issue, not just -- it is substance this man renewed prosperity opportunity security affordability fairness an strength for this nation for america its meshes, american industry name it we are fat on our backs they want us to focus on, they want us to look past the substance of last night it where president trump was not just defending his record but explaining it these people fallen down on
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the job i think a disgrace, to this nation that they are so afraid of donald trump being president commander in chief would pretend that we all don't see what we see with our own eyes maria: we saw last night, so kellyanne what happens now 40 days until a democrats need to nominate their ticket president vice president officially nominate ohio ballot, ohio ballot is august 7th deadline, so what -- can biden be remove from the ticket ? what needs to happen what are conversations in the democrat circles. >> if he leads ticket may not lead presidency not that vice president harris would step in people are afraid of her maria, let's call it out two words 12 letters keeping biden in his job kamala harris there is no confidence in her competence you think he is
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unpopular aren't apple thetics because of -- it is eyesight hearing we've watching this for four years she is unpr unimpressive. >> there is nothing on vice president ' public schedule how is this possible being vice president of the united states she as i disaster too thinks job security for wax figure of a president the top of the ticket joe biden would have to take himself out i think the play 18 months, i said on fox many times fox business let me say it again, the through fecta for joe biden could be presented this way look you finally got the brass ryan three times for president two centuries flooirnl one number two rid of donald trump number three you can at the end of your career you can elevate help select first female president, of color, president of the united states of america if you just
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step aside let her step in who wouldn't take that deal? they are too arrogant pour ignorant about will of voters i don't care what democrats they run against president trump that person will be eaten on biden policies not one whitmer newsom stood up said this guy doesn't have what it takes we, too long to take action on border inflation a disaster not one of them said it. >> i know kamala harris is the most logical heir apparent of you got gavin newsom, governor whitmer polled below donald trump. >> point i have been making all of them a major problem on flat side i want to ask about doctor "daily mail" reporting that 45th president, basically insider bending trump's ear to
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influence pick write marco rubio can count on you influential support kellyanne republican national committee chairman michael whatley told me yesterday trump will problem announce any day between now an beginning of the convention july 15 did you tell president trump you wanted it to be marco rubio. >> no, i told him have somebody not a distraction or subtraction should be additive not having to answer for that person's statements in the past number, two someone with an help win, three govern, four be ready on day one that describes a lot of people but i said senator rubio because president trump put other people out there as well in conversation i think senator rubio would be great asset if president trump winning hispanic vote without v.p. get rubio spanish language radio back to senate as vice president with votes the democrat and republican
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colleagues he serving with also i think that kind of intelligence can maybe announce skirt foreign policy experience i was a advocate in 2016 thought could break into hillary blue wall i -- i thought should be gaza this time i think smart looking at senate jifltd vance, doug burgum, marco rubio other choices certainly other people asked we can't go wrong with any of them would be a complement to the ticket it is donald trump not joe biden unifier trump went to washington last week, there voted to impeach him let me know, he sat with mitch mcconnell. >>. maria: i will tell you it has been trump knocking down those blue walls, ripping through
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south bronx, pennsylvania philly you know, california. trump has been doing that garnering huge crowds in very deep blue areas kellyanne always great to get your take on all of it, thank you stay with us. we'll be right back. closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪) wow... are you kidding me? you can do this. at truist, we believe the same is true for banking. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com
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>> the idea that he did something that was significant in the military when he was president kill peoples in afghanistan he did not do anything about that i am the only person this century this decade doesn't have troops dying administer in the world like he did. >> i was getting out of afghanistan with dignity with trespassing with power, should have fired every military man involved with afghan afghanistan horror show most improving moment in the history of our country. >> biden's botched afghanistan withdrawal discussed war in israel threat of iran. >> i have endorsed the plan to put forward only one wants war to continue is hamas. >> israel is one he doesn't want to do it become a palestinian, but they don't like them because he is a very
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bad palestinian a weak one. israel would have never been invaded in a million years by hamas, you know why? because iran was broke with me i wouldn't let anybody do business with them they ran out of money broke no money for hamas they had no money for anything no money for terror why you had no terror at all during my administration, this place the whole world is blowing up under him. >> never heard so much malarkey in my life, we are in a situation let's take last point first, iran attacked american troops killed -- damage, for a number of these troops he did nothing. maria: meanwhile, iran voting in a snap election today after president raise unexpectedly died in helicopter crash in may former president national advisory, k.t. mcfarland good to see you i want to ask your
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take on debate last night with rallier to the foreign policy part of the conversation how did you see things? >> well, pretty clear that joe biden is not capable of being president not capable of being -- being reelected. so what i think my big takeaway not specifics of this policy that policy it is what message sent to adversaries around the world they are looking at this saying wow. trump is likely to be president, we know howive to is going to bankrupt iran bankrupt, like last time going to use tariffs to have a trade war with china which they will win we better get is the our opportunity if going after united states this is a narrow w window of opportunity closing that window is next six months i think entered a period of maximum vulnerability for united states were i decides we are now going town to
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unleash av, a political problem with palestinians our time to do it we have the money to do it as president trump said when he was president iran was broke they would have invaded everybody but did not have money if president making same cancellation thinking when trump comes back in bankrupted russia because of trump energy policies if you are russia thinking i am going to be broke maybe i better escalate in ukraine if you are making that same calculation i think we entered a really dangerous era for the next couple months. maria: so you think as a result of joe biden's weakness on the world stage, his obvious mental capacity issues our adversaries are watching that thinking i've got a limited time to ramp-up my aggression i am going to do it before he steps down next five months? >> yeah, absolutely. because they know trump, trump
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was tough on all of them you did not have russia invade anybody when trump was president you didn't have iran in trouble with anybody when trump was president you had china benefited the by trade agreement because of trump using tariffs if you are are cartel. maria: they are stronger today are they not stronger today after biden weakness last four years. >> absolutely. >> so not as easy. >> stronger today know a window of opportunity i think going toities think acrisis after another next six months. >> china into taiwan? >> -- going into taiwan, a bear hug with taiwan or,, crud -- with taiwan a lot of things countries can do. >> you will as others are predicting 9/11 style attack
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given the wide-open border. yes, we are in a very tenuous time in america, thank you great to talk with you kt mcfarland "varney & co." host will be here early with top moments from the night's presidential showdown join us you are watching "mornings with maria" live on fox business. we'll be right back. . so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is
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[thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ maria: welcome back. i want to thank lee carter and mist if mcmahon for joining me no morning, thank you so much for your incredible insight,
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both of you. i want to bring in stuart varney who's going to pick it up in just a couple of minutes. it's great to talk to you before you turn your attention to your show. i want to get your takeaways, but i want to start with cnn the, stu, buzz you and i both worked there. i was a producer from 1989-1993, you were the morning anchor, and this was ted turner's cnn when we were there. how would you rate cnn, and what'd you think of last night? stuart: well, cnn changed completely in the late 1990s. it became the clinton news network, and pit never came back. i -- it never came back. i thought they did a good job last night, the moderators. "the new york times," of all people, are criticizing the moderators on the fact that they did not fact check trump during the debate. but i thought they did a pretty good job of keeping it moving and keeping it going by the rules. it was a decent debate, you know? maria: i agree with you, stu. and, you know, that's the reason i said, look, when we worked at cnn together, it was very
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different. since then it completely changed. we knew exactly how jake tapper felt about donald trump, we know how dana bash feels about donald trump. they can't stand the guy. however, they kept it straight last night. i was impressed. stuart: i think though that last night was genuinely historic. it was a presidential debate like no other. this is going to be remembered for decades to come. it's the day, the time, the debate when biden lost his presidency. that would be my opinion. that's how dramatic and extreme i think it was. maria: do you think it's going to be kamala harris, stu? stuart: i think it'll be awfully difficult to get kamala harris out of the way. how you get biden out of the way is another story entirely, because he's not going to go willingly, i don't think anyway. maria: stu, i know you're going to picket up where we left off. have a great show, "varney & company" begins now. stu, take it away. stuart: thanks very much, maria. welcome to "varney & company." it was historickingic. last night joe biden's

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