♪ stuart: is this dazed and confused? that the name of the song? that's getting nasty. i can't think who that might be referring to. it is 10:00 eastern. we've got 116 point gain for the dow, 100 on the nasdaq, a bit early to call it a trump debate victory rally but i might do that anyway. the 10 year treasury yield is down 4.27%. the price of oil $80 a barrel, $81.44, bitcoin, $61,000 a coin. the latest read could move the market. lauren: 68. 2 for the final june number for consumer sentiment from the

university of michigan. inflation or expectations coming down are certain to solidify. one year out inflation is at 3.7%. stuart: that is not hurting the market. now this. he lost his train of thought, mumbled, struggled to find words, painfully tried to use the 1-liners he had learned in debate prep but it came out all wrong, no context, phrases jumbled together. by the end it was clear president biden cannot be president for another four years so now what? chaos in the democrat party. there was pressure for him to step aside before the debate which is intense now. after this he can't win in november and in politics winning elections is everything. don't forget the down ballot, a biden presidency could end their hopes of taking the senate. how do they get him out? senior party members could say

it's time to go but he is stubborn, he may refuse, that means more chaos and time is running out. only one hundred 50 days until the election. there's talk of making it an open convention with delegates free to choose another candidate but biden won those delegates, he doesn't have to release them. we are about to see the mother of all battles in the democrat party, who is going to take biden's place? what happens to kamala harris? democrats play identity politics, minorities will fill betrayed if kamala harris is denied a shot at the oval office. the knives are out, three editorial headlines in the deep blue new york times of all places, biden cannot go on like this. tom friedman, joe biden is a good man and a good president, he must bow out of the race. ezra klein, after the debate i don't think joe biden should be running. biden lost the new york times. let the democrat civil war

begin. no joy in me saying this, america is led by a man in rapid decline, the whole world saw it. the whole hour of varney just getting started. democrats and the media in full panic mode after biden's performance last night. >> as we speak there is a deep, wide and aggressive panic in the democratic party. it started minutes into the debate and continues right now. can conversations, those conversations include should we go to the white house and asked the president to step aside? others are about should prominent democrats go public with that call? >> i was on the phone through much of the debate with obama, world people, democrats, people who are political operatives,

campaign operatives, my phone never stopped buzzing throughout. the universal reaction was somewhere approaching panic. stuart: tammy bruce with me, democrats claimed frequently that biden was sharp as a tack behind closed doors. were they lying? >> i think so. we have to use it more often when it is true. this is what happens and why last night was not just a shock for americans, it shouldn't have been. many of us have been talking about this, we saw it happening, there's a reason they kept it in the basement in 2020, it was something they knew and that is raging, that americans are thinking this is change, something do. it is not. this is the man they ran, the man they knew was in the situation and they see it privately. they would have to.

his wife sees it privately. this condition, this dynamic puts the country at stake, puts us in danger. we've seen policies they want to blame biden for what is happening but it is democrat policies that have done this. this is the other reason they might be angry. they are doing their job and based on what the democrats want, now they want somebody prettier like gavin newsom to do this but nothing will change, the democrats want americans to think biden is the problem when it is not but they have known this is the guy, puts us at risk because that was a global event and now tyrants and terrorists around the globe know they have until january 20, 2025, to do what they want to do. that includes china and russia in iran, isis, everybody in this country. they have six months. this is what they've done to this country, they have put him

up there knowing this. it's a democratic party problem. they've known from the start. whoever it is that is running the country, biden has been willing to be in front and if you think he's going to walk away from this they are going to have some problems. stuart: i think so too. even a cnn panel exposed the left's lies about biden's condition. >> one night that helps confirm people's fears, trump said you want to take a test was that was his test. >> the candidacy has fallen, we should pray for the president was we've been told for weeks by democrats who say in private meetings i've seen joe biden to cartwheels and handstands while doing trigonometry while solving nomination's problems. we now know every single person who said that has been lying to the american people. stuart: jason chafe chafetz, h

they get biden to step aside? >> the problem with the democrats is they've known this for a long time. get a look at those 16 people at camp david, all the kings horses and all the kings men can't put biden back together again but it is not as simple as just saying come up with a new nominee. how rich is at the party saying we have to save democracy, wants to bypass democracy. that nobody in the caucus voted for. they want to come up with somebody else real quickly. i'm involved with the heritage foundation. we started something four months ago to analyze state by state, you can't go change out the candidates. in nevada, wisconsin, two swing states, only a few die can you

change the candidate. democrats can say we will come up with a new nominee. that's not the way the laws work. you can't just change a candidate, if biden is in the candidate you won't have candidates. he's on the ballot, democrats having to meet a week early. what are they going to do? they created the problem and have to live with it, the party the child's democracy, you are willing to break all those rules just for power. stuart: the trouble is the country has to live with this. >> the next six months is a scary time. makes me mad, makes me frustrated. the white house is lying to us. >> watching the performance of the leader of the country and watching it happen in september

if that debate does happen. this is a scary thing to say but there's an opportunity to do something that farias right now. >> who will take the call at 3:00 in the morning, hillary clinton, 3:00 in the morning, who takes that call? stuart: the president is supposed to hold an event with governor cooper in north carolina, a telltale sign, will he do it? if he does not do that engagement that is a sure sign something is happening. i'm not predicting anything. stay with me for the hour. got a hedge fund billionaire calling on people to rally behind trump. >> bill ackman calling for this come together moment behind trump. trump came across as strong and reasonable on the important issues, talking about last night, he didn't respond to

biden's attacks, littering the country together. our divisiveness is killing us and someone needs to take the democratic leadership, i bottom lined this. the democratic party is united on who is the leader and on israel particularly in the swing states. contrast that with unified republican party getting behind trump. we won did you say the democrats were unified? lauren: divided. completely on who their leader should be and on the issue of israel. stuart: it is chronic division in the democratic party. unbridgeable divide. >> the whole premise of joe biden was he was going to unite people and that never happened. stuart: back to the markets. 237, nasdaq up 155. david, i'm going to ignore the inflation report and look at this rally. could this be called a trump

debate victory rally? >> no question the world is buzzing, you've been covering this really will. it is important to understand the dnc does need to remove president biden or it will be negative for the markets. if they are looking at new candidates that a positive income donald trump showed up strong last night and didn't take the bait. stuart: let's get to the inflation report. 2.6%, the fed watches that index carefully. is that helping the market. >> of the pce is the favorite indicator, you are correct. that is helping the market. we saw it come out at 2.6 on a

year over year. month over month the rate of change was 0. this is the lowest pce recording we have. is the fed beating inflation? made the, maybe not. we are out of the woods on this, this pce is not necessarily the greatest way to look at inflation in my opinion. looking at personal inflation is a better way of understanding this in american society. a lot of cpi is going on, trending 3.3 but, we've been 3. 7 for over a year, 38 months of 3%, we have slowing gdp, that is insane, 1.5 million people have been unemployed. is this the easing perfect like a landing we've been talking about? i don't see that. stuart: sets the stage for lower interest rates. thanks for joining us,

appreciate it, see you again soon. lauren has moved to check out starting with nike. lauren: they've been downgraded by morgan stanley, staple, ups, berkeley, j.p. morgan, at least five saying what is next for nike, where's the turnaround after they said current sales will fall 10%, under armour and footlocker falling down because of nike's report. stuart: athletic apparel down. uber. lauren: they say uber is going to $91 a share and lift is up 4%. stuart: tesla. >> up 10% on the week, 202 for the shares. tesla filed documents defending elon musk's $56 billion pay package. they want to make it official. stuart: thanks very much indeed.

coming up, more than one hundred migrants arrested while trying to come to the us by boat, trying to come to florida. the florida keys is at risk of another mass migration from haiti. details coming from that. president biden claimed border patrol endorsed him during last night's debate. national border patrol council quickly refuted that claim saying biden's border policies fail. former acting ice director tom homan on that next.

stuart: immigration top issue during the debate last night and the border patrol says

migrant encounters have gone down in the tucson sector since biden's exec in order took effect. is that what you are seeing? fewer migrant crossings? >> yes. we've been in the tucson sector for the past week. it has been very slow. we've seen some small groups of runners. in this entire sector, a couple hundred encounters of illegal migrants on any given day. compare that to earlier this year where sectors see 3000 a day, that applies to california. president biden did taupo plummet in illegal migrant encounters. he is not wrong. a border patrol agent here on the ground says it might be too soon, the exact drop we are seeing applies to the president's executive order. immigration a major topic in last night's presidential

debate. >> when he was president, he separated babies from their mothers putting them in cages, the families were separated. i changed the law and what is happening. changed in a way that now in a situation where 40% fewer people coming across the border, better than when he left office. >> he's the one who killed people with a bad border including hundreds of thousands of people dying and killing our citizens when they come in. >> take a look at this. look at the border wall in arizona, a resident put up a trump flag facing the wall. a woman said she was hesitant to go on camera but told me migrants are crossing onto her property, not just coming from mexico but all over the world so this trump flag serves as a sign of support going from trump's immigration policies and border patrol agents at the southern border.

>> reporter: donald trump went after biden on migrant crime. >> we have a border that's the most dangerous place anywhere in the world, killers coming into the country, raping and killing women. we had the safest border in the history of the country. are you had to do is leave it. he decided to open the border, people that are from visits, people who are from mental institutions, insane asylums, terrorists, every state is now a border and because of his ridiculous insane and very stupid policies people are coming in and killing our citizens at a level, we call it migrant crime. i call it biden migrant crime. at a level we've never seen before. stuart: we better bring in tom

homan. the president couldn't remember any of the victims names. >> that is sad. most likely, we stopped catch and release. much fewer crossing the border. he could be 70% decreased, also what people need to know, they stepped up enforcement because they don't want trump to be president. trump. it which will hurt the cartels in mexico, mexico stepping up because they want president biden to stay. if president biden was to win the next election, numbers would skyrocket once again because they don't want concerts. this is our politics. stuart: nobody talks about the

apps, the cp one apps. as i understand it you can get into mexico, sign up on the apps and fly directly from mexico to a town of your choice in the united states. walk across the board, you fly across it so you are not in the official numbers. is that something we should know about? >> this is what they are doing, illegal crossings are down, take thousands of people that would normally come between port of entry and create the cvp one apps, cuba, nicaragua, haiti, venezuela. they are playing the shell game, thousands of people through the port of entry coming through port of entry. they had the other four countries. if you have the cvp, points of entry, still 8000 today. they are playing the shell game. lying to the american people about the state of the world

and one more thing. got aways have skyrocketed. no illegal aliens come to the border, we are at 2500. they are going to go to a place where there's a got away. the border is not in much better shape than it was. it is still outrageous. stuart: biden claimed during the debate that he had been endorsed by border patrol. role it. >> we worked hard to get a bipartisan agreement that not only changed all of that but we are in a situation where no circumstance for coming across the border. we increased the number of asylum officers significantly. border patrol endorsed me, endorsed my position. stuart: border patrol union denied that, they posted this on x. we never have and never will endorse biden. they said border policies fail.

what is biden talking about? >> i don't know if he was talking about a bipartisan plan. the border patrol wants donald trump to do the job. how do you think these agents feel when illegal aliens have been released and raped and killed a child. if i was the agent that processed that, how will that -- he signed up to secure the border to protect the country, he's being ordered to release people buy for thousands. i'm sure this is going heavy. border patrol had 24 suicides. the number of suicides and border patrol is higher than any state in the country. whatever internal struggles they were having, giving cpr to infants, pulling babies out of the river, talking to young ladies raped by the cartels had to weigh on them.

they want to uphold and secure this nation. i don't think a single border patrol agent, 20,000 will support president biden. stuart: get back to the job and i'm sure you will. thanks very much. the president says he thinks he did well last night. one high-ranking democrat official says the race is over. jackie heinrich on the democrats full-blown panic, the wars on ukraine and israel, hot topics in the debate, trump says biden's weakness is why putin felt emboldened to invade ukraine. is the right? christian whiten will tell us next. ♪

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stuart: this just in the supreme court handed down a ruling on banning homeless encampments. in a 6-3 decision the court says cities do have the right to ban sleep and camping in bridges, parks and other public owned properly, the crackdown do not violate the eighth amendment and are not cruel and unusual. we also got the ruling on the

fishermen's case. kelly o'grady says she's been following this one. how did the supreme court ruled aside and what are the implications? >> this is a huge one. they decided in favor of the fishermen and the implications are sweeping, just a bit of background. there were two groups of fishermen, essentially challenging this idea that federal agencies can interpret rules that are ambiguous and they have the ability to decide how to enforce these? the specific case seems small, fishermen were protesting that they were supposed to front agencies that were putting a specific person who was able to monitor fishermen and pay the cost for that. crazy. this is something you have to pay the cost, now the justice supreme court saying they are

overturning chevron doctrine. it essentially gave these agencies power to do this. the fact that they have overturned this has wide implications, talking everything from cell phones to the clothes i am wearing to ai. this is the place where this has such far reaching implications we can't begin to imagine because ai is so ambiguous. we are talking about limiting federal agency powers where they take some things that was so confusing and ambiguous and say we are going to do it this way, now based on this ruling you don't have the power to do that and you have something so ambiguous and confusing, we don't know the questions, huge implications. stuart: really. >> bob supreme court cases this one has as big an impact on how this country is run as anything the court took up this in this session.

it is a massive ruling gives more congressional power and takes it away from unelected bureaucrats. it's a big deal, not just about fishermen. this is sweeping across the whole of government. stuart: thanks very much, good stuff. on the supreme court, biden facing calls to step aside after his weak performance. one high-ranking democrat official said simply the race is over. jackie heinrich joins me from the white house. how is the biden campaign responding to calls to step down? >> reporter: the party is in full-blown panic mode but the campaign is trying to turn the focus to trump. a campaign email this morning read all 50 of trump's lies, 16 more lies than felonies, this was their strategy even ahead of last night, they issued a predebate memo with a list of important trump lies to look out for and this is what first

lady jill biden said after the debate. >> you did such a great job, you answered every question. let me ask the crowd, what did trump do? ally! >> reporter: our waffle house on his way to the airport the president said he had a sore throat but thought things went well. >> we did well. >> anything about your performance? >> president biden: hard to debate a liar. he lied 26 times, big lies. >> reporter: the campaign acknowledges there will need to be a postmortem on this but they rejected the notion that it could lead to a different 2024 ticket. >> there is always a truth telling session when these things happen, president biden

is not averse to hearing things that are bad, he needs to make the decision whether he will be a candidate or not, he has done that, he will be the nominee. >> reporter: as long as biden is willing, he's the productive nominee because he secured the majority of pledged democratic delegates, the party will formally nominate biden during a roll call vote this year, the week before the dnc to comply with ohio law. if biden were to step aside before the seventh, those delegates are no longer pledged to him and another candidate could emerge but if he were to step aside after the seventh it would create a very messy situation where the party's chair would likely have to make a recommendation to the dnc and the committee would have to choose another candidate. stuart: time is running out and that is the way it is. thanks very much. let's talk foreign policy, donald trump blamed biden for the ukraine invasion at the debate. wall tape.

>> if we had a president that was respected by vladimir putin he would never have invaded ukraine. a lot of people are dead right now, much more than people lived, they talk about numbers, you can double those lovers, triple those numbers, he did nothing to stop it. i think he encouraged russia going in. he was so bad with afghanistan it was such a horrible embarrassment. stuart: christian whiten joins me now, trump says flattering putin would not have invaded ukraine if we had a president putin respected. is he right? >> i think so. it is impossible to know what's going on in vladimir putin's mind. when he issued the go order in february 2022 but the timing is very suspicious, six months after our humiliation in afghanistan. there wasn't much build up before the fall of cobol or ukraine before, a huge buildup that began afterword.

trump said biden didn't engage in diplomacy, talked to a lot of people but repeated the position we thought everything russia was saying and doing and asking for was stupid which isn't real diplomacy so trump is a pretty strong argument there. stuart: how do world leaders view our country after the debate? >> very badly time a partisan republican but i'm an american first and i do and i do not think it is good for us or anyone in the free world to see a president performed that badly, to have cognitive performance, missed performance that badly. i can't think of any precedent. if you are vladimir putin and xi jinping, that position today. stuart: would it precipitate some action in the near future, foreign leaders know that we've got to go six months with biden in the oval office. would they be spurred on to take some action now?

>> it is a dangerous time. russia think it will do better under biden than under trump, trump talks about negotiating peace and wants to but willing to escalate or de-escalate if he doesn't get his way and you are always worried about invasion of taiwan. thankfully there is a large body of water between taiwan and china. now's the time to do it. you have to realize leaders know they are dealing with the white house staff, a highly progressive ideological group of young men and women, that has its own implications. stuart: looks like the risk is rising. thank you for joining us. president biden and trump addressed voters concerns about their age and it turned into a hilarious exchange about their golf game. you will want to hear that and you will. biden's performance filled with gas, mumbling, awkward pauses,

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stuart: back to the debate, biden made gaffe after gaffe last night. >> president biden: we have 1000, trillion years in america, billionaires. with the covid -- dealing with everything we had to do with -- look, if we finally beat

medicare, their in-laws, their spouses, brothers and sisters. that's ridiculous. if you do nothing about it and arrest them across state lines, until we get a total ban, the total initiative relative to what we are going to do with more border patrol and more asylum. >> i really don't know what he said at the end of this. stuart: look at these headlines. even left leaning outlets are slamming biden. vivek ramaswamy, he cannot be president another four years. how are they going to force him out before the election? >> the first step was having this debate in the first place. this is the earliest televised presidential debate in history

and the first that occurred before the nominating convention of either party. that was not an accident. biden's camp, the democratic machine argued for this and negotiated for this for a reason. the reality is they deserve to be honest with the american people. who is running the country? who is in charge of the united states of america? after last night's debate i don't think there's a single person who saw that who believes it is joe biden because it is not. we deserve a government that tells us the truth. one of the concerning questions today, the next few months leading up to the election, who is leading the united states of america? the democrats and the white house have not offered a clear answer to the question it if they tell us it is joe biden we now know that is a lie and americans demand the truth because our security determined and depends on it. stuart: there is supposed to be another debate in september. september 10th or 11th. do you think it will take place? >> i don't think will be a

trump/biden debate. trump has no reason to debate, people saw what they needed to see, it was a sad spectacle of joe biden, donald trump did great but a sad indictment of the existence of a us president who is not even president in the white house today. it would be a disservice to have a trump/biden debate. the reality is democrats may have a different plan they have yet to be transparent about and we will see what happens in the next few months. stuart: claire mccaskill is wondering why they are throwing their hats into the ring. who do you think will run if democrats push biden out? >> a lot of people are aspiring to the seat but they have an identity politics problem, a kamala harris problem, if one person is less popular than joe biden it is kamala harris, the person in waiting of something happened to joe biden to take the presidency. they have to pick somebody who

solves the woman of color label, their words not mine, they shackle their range of choices. michelle obama checks that box. if of people check one of those boxes of being diverse, it makes it difficult for them to put up another person that otherwise would fail their own identity politics test. the realities they've been nontransparent, they've lied about the fact that president biden is running the country and the dishonesty persists no matter who they put out. when i was at the nbc debate last fall, one of the things i said is democrats needed to be honest that it was not going to be joe biden who was the nominee, was left off by the left as a conspiracy theory. it has become reality today that we have to confront. stuart: that is what we have been saying for a long time. thanks for joining us. see you again soon. trump and biden even went after each others golf game while

addressing concerns over their age. this one is yours. ashley: yeah. i'm glad it is. trump boasted he won two non-senior club championships and said joe biden couldn't hit a ball 50 yards and it carried on from there. watch this. >> took two cognitive tests. i aced them. i would like to see him take one. i'm in very good health. i won two club championships, not even senior, two regular club championships. to do that you have to be quite smart and you have to be able to hit the ball a long way and i do it. he doesn't hit about 50 yards. >> president biden: we have to have a private contest now. down to a six and by the way, i am happy to golf. think you can do it? >> six handicap.

>> president biden: 8 handicap. >> i have seen your swing. i know your swing. let's not act like children. ashley: 5 seen you swing, hard-hitting stuff. when i was watching it live last night i am like are they really talking about this but it went on for a while. stuart: i watched it all the way through. one quick thing. you played golf with trump. >> i was honored to play golf with donald trump. he never misses a fairway. he can put like nothing else. stuart: there will be more varney after this. what the biggest companies deliver is an exceptional customer experience.

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her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit...

unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

stuart: a team of harvard dropout rates $120 million to build a new ai chip to challenge nvidia. one of those dropouts joins me now. gavin, you're going to try to make a chip to compete with an nvidia chip. what's different about your chip? >> you are building a specialized product, there can be many ai models.

like the recommendation algorithms or the filters that run on snapchat or chips different. it only does a specific thing, run for models the power ai like chatterjee pt. blue and does that make it perform better? >> the facebook version of chatterjee pt will give 500,000 words per second. stuart: you've got one hundred 20 million to start the manufacturing process. where are you doing it? >> the state-of-the-art -- stuart: that is in taiwan. when will you bring it here? >> they have the arizona plant coming up in arizona but that's not ready yet. i hope to move to the us once that is more true. stuart: you are 22. >> yes. stuart: you dropped out of harvard two years ago so you spent last two years figuring out to compete with nvidia. >> one specialized thing but we

do it well. stuart: thank you very much for joining us. you can come back any time you like. you are an inspiration. thanks very much to you, jason chaffetz. still ahead, we have actor kelsey grammar on the show, jim jordan and lisa boothe. the 11:00 hour of "varney and company" is next. ♪ ♪ ♪

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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 j.p. morgan wealth management. >> actually going forward in terms of this election with the support of democrats given everything we've heard over the last several hours. we're going to actually have him remove himself and replace him with kamala harris. they'd need to move rapidly. >> as for joe biden, even in the new york times they're saying it was a catastrophic night.