obviously, inflation data coming up this thursday, friday. we will need to see benign reports on inflation for the fed to even have the option to cut rates before year end. maria: yeah. the fed chairman speaks in about an hour's time in front of the senate. mike, your final thoughts. >> in washington today there's a lot of big issues for nato, but i think there's not a lot of expectations anything dramatic is going to be done. instead, a lot of nato representatives will be buddying up to the republicans just in case there might be changes in the fall. maria: great point. the nato sessions begin today at the white house. mark, michael, great to be with you this morning. thank you so much, yes member. we are watching these markets trade higher. see you again tomorrow, everybody. "varney & company" pix it up. stu, take the it away. stuart: good morning, everyone. donald trump breaks his post-debate silence. he was interviewed by sean hannity last night. he was calm and measured, no rough language. he's letting the democrats fight

among themselves, and they are fight. for the second time, "the new york times"' editorial board says biden should step down. the times is the bible of the democrat party. the white house press corps is in open revolt. dr. kevin ca narksd a parkinson's specialist, made eight visits to the white house in eight months. at the press briefing, karine jean-pierre refused to offer detail on those visits. the press corps erupted. it lookss like biden is losing the media. look at -- look at this, the s&p and nasdaq closed at records monday. the dow up maybe 9 points, but the nasdaq, a 60-point gain there, modest gain for the s&p 500. fed chair powell testifies in konked today. he could -- in congress today. he could move the markets. the 10-year in this morning at 4.29, the 2-year about 4.60 to, 4.64, to be precise. both yields slightly higher. bitcoin, $57,300.

gas, little change, $3.51 per gallon. on the show today, the president gets his chance play on the world stage. he hosts a nato summit in d.c., but "the wall street journal" reports that biden skipped an early evening meeting with germany's chancellor back in 2022. he had to go to bed. it is tuesday, july 9th, 2024. "varney & company" is about to begin. ♪ ♪ welcome back, welcome back, welcome back, welcome back ♪ stuart: okay o -- appropriate song to be play frommed there. i am back after about 10 days away, i missed you all -- lauren: it was a long time. and he celebrated his girth day -- stuart: the i didn't get back to

until 3:30 -- and i celebrated a rather large birthday, which we're not going to talk about. [laughter] this is important stuff. donald trump says he does not expect president biden to drop out of the race. lauren, what else did, what else did trump have to say about biden's decline? lauren: the press has been covering it up, and it's been obvious to him and so many americans, and the press just can't do that anymore. they can't do it, it's too obvious. here's some of trump's call with sean hannity last night. >> they cover for him, and they still are sort of covering, but now it's getting very difficult to do that. and, you know, it looks to me like he may very well stay in. he's got an ego, and he doesn't want to quit. he doesn't want to do that. it just looks to me like that's what he wants. i think jill would like to see him stay. she's having a good time. i notice she really seems to be having a good time, and i'm hearing that hunter is calling the shots. so this isn't necessarily a very positive thing for our country. [laughter] lauren: yeah, but he was relatively restrainedded.

and trump said he is prepared for biden to stay in the race, but should he decide to get out, he thinks his opponent will be kamala harris. stuart: is that right? [laughter] some reasoning there, i guess. all right. yesterday's white house press briefing, that became heated. that's an understatement. became very heated when karine jean-pierre was asked about reports that a parkinson's specialist visited the white house multiple times this year. roll tape. [inaudible conversations] >> very basic, direct question -- >> wait, wait, hold on, hold on. wait. wait a second finish. >> eight time it is or at least once in regards -- >> i just, wait -- hold on a specific. >> that much you should be able to answer by this point. >> no. no. no. no wait a minute. ed, please, a little respect here. please. hold on a second. there's no reason to the go back and forth in this aggressive -- >> -- miffed around here about how information's been shared -- >> what have you miffed about?

>> everything he just asked about -- >> and then every time i come back and i answer the question that you guys asked s -- >> you have to come back and clean it up -- stuart: whoa. that was a fight right there. mary katharine ham joins us this morning. yesterday was supposed to be the relaunch of bind's campaign. do you think it's going well, mary katherine? >> you know, it's not going great, but what a struck me here is that california a lean jean-pierre is finally experiencing what republican press secretaries experience every day of their careers, and she's not great under pressure even under friendly circumstances. can and this is not friendly. so good on ed o'keefe for pushing her. the idea that she's reacting as if he's treating her with disrespect, it's ridiculous. he's asking a very simple question, can you tell us whether the president was seen by a parkinson's specialist and how many times and why. >>? this is not a hard question to answer if you want to give the truth. the problem for the white house is that they have been covering this up for a very long time, and even if they give an answer

that that might be the truth, guess who doesn't believe them? everyone. [laughter] because we have seen with our eyes the thing they have been lying about for a very long time. and now even the press is digging in on it, which they should for the american people. i wish they would do it more often to democrats, but here we are. stuart: on a similar vein here, the white house claimed biden's interview with msnbc's "morning joe" was not scripted. despite being able to hear him flipping through pages during the interview. just watch this. roll it, please. >> so i was in the room when the president called in to "morning joe." the president spoke from his heart. the president was very clear, there was no script at all, and he was very detailed. you heard him say actually during the call that he was reading some quotes. he said it, he shared that information. he was reading some quotes from the debate. but he, you know, i think it was the incredibly powerful.

>> quote, but not from a script? >> no, it was not a script. stuart: okay, mary katherine. i've got to say, karine jean-pierre has a very different job. i'll give her that. >> at this point, yes. but it's one she's never been great at, and here we are yet again. it wasn't powerful, his calling in to this show. the performance wasn't powerful. none of his performance have been very reassuring or helpful since the debate, but you still can't just tell him to leave, right? if that's the problem they're running into. i do love they them you the videos are cheap fakes, don't believe your eyes, and now with the phone call, don't believe your ears. i know you can hear the paper shuffling, and then the president himself will tell you he's reading off a sheet of paper -- [laughter] you can imagine his staff, no, no, no, that's not the part you say out loud, sir. not that. but they have had a repeated problem with him saying things that he shouldn't say, and i think this was probably another one of them.

stuart: extraordinary story. mary katherine, thanks for joining us. >> thank you. stuart: james carville says the democrats need a plan to replace biden. what's the plan? lauren: hold an open primary,s make it fully transparent, make it splashy with celebrities like taylor swift and oprah winfrey. there should be four town halls. have former presidents obama and clinton moderate the town halls and then let the delegates pick their man or woman to go dennis trump. carville writes -- against trump. mark my words, joe biden is going to be out of the 2024 race whether he's ready to admit it or not, the jig is up. and the sooner biden and the democratic leaders accept this, the better. end quote. stuart: a new poll shows president biden falling behind trump in every key battleground state. lauren: and now we're outside the margin of error in some of them. this is a poll by emerson college and a democratic group. trump is ahead of six of the seven battleground states.

he's up by 6 in nevada, 5 in pennsylvania and in georgia, up by 4 in arizona, 3 in wisconsin andis 1 in michigan. if you look at the real clear political polling average, it mirrors this poll. stuart: i'm trying to find a way of marrying the financial markets and what's going on there with this chaos in the political realm, and i'm bringing in david to do that. is this a link between the sharp runup in stocks and bind's struggles? >> of course not -- biden's struggles. >> everyone knows that. this has had nothing to do with politics for months. it's been a.i., the pe ratio of the s&p exploding. markets are kind of boring, and some of these stories you're covering this morning are just mustfying to me -- mystifying to me. everything james carville said, they're not going to do any of that. that's exactly what they should have done six months ago. they should have had a real primary with real candidates to debate ideas. they didn't want to do that, because they didn't want the far left coming out of the woodwork again and making this harder,

but they took a bigger risk that, obviously, is backfiring. stuart: what did you make of donald trump's tone with sean hannity last night? it seemed to me it was measured and calm, and he's letting the other guys destroy themselves. >> i think you're exactly right. it was measured and calm which is exactly what he needs to do. i've been critical of him when he's not measured and calm. that's the tone i prefer. i'm a very old-fashioned guy, apparently. [laughter] i think that he will win the election if he maintains that, stuart. i don't know that he can all the way through, but the whole tone not trying to pile on president biden right now, let them just do what they're doing. stuart: there you go, yeah. talk to me about the fed because jay powell appears before congress this morning. he could move the market. what do you think? >> yeah, he could. i don't think that it necessarily will because i think the market is starting to really price in that there's 50 basis points of rate cuts coming by the end of the year, maybe september-november, maybe november-december, but half a point is coming out of the fed fufnltdz. stuart: you're sure of that?

>> of course ott -- i'm not sure. you don't want to be overly arrogant about this. 990%, which is pretty good -- 90%. stuart: we'll that take it. stay there, please. coming up, the list of democrats calling for biden to step aside is growing, but if biden stays on the ticket with harris, a lot of democrats will have to do a very is difficult about a-face. caylee mcgee on that shortly. house oversight chair james comer wants to know -- involvement with the biden's family business. how about that? the chairman is next. ♪ family is family in church or in prison. ♪ you get what you get if you don't get -- ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs,

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stuart: futures all in the green. dow up 8, but look at the nasdaq. closed at a record high yesterday, up another 60 at the opening bell this morning. the list of democrats calling for president biden to drop out of the list is growing. right now house democrats are arriving for a secret, closed door meeting about what's the next step. aishah hasnie at the democratic congressional campaign committee headquarters. i got that the right. aishah, what's the latest on the secret meeting? [laughter] >> reporter: it's a mouthful. it is top secret, stuart. good morning to you. that's because they've taken every member's cell phone away, they don't trust them to not leak what's going inside the media -- inside the room to the press because they want to create a safe space for members to be able to speak openly and ask questions about the president's future. we're not certain if the president will actually call in or not to try to lobby himself to these members. but you can see behind me over

my shoulder we've got some republican interns holding up signs and basically raising the question that democrats inside are going to have to ask, is the president fit for office for the next four years? now, house democratic leadership is for the president fully, 100%. but they've got members who are questioning it, members who have openly come out and said that they don't want him on the ticket. and other members who just want some time to think it over. listen. >> well, right now i'm just listening to -- i'm continuing to listen to the to members and see where they are. our members really need to continue to just see how this week plays out and see the president in unscripted situations. >> it's his decision, what he wants to do. i respect that. i respect the nomination profits i will support vigorously what -- [audio difficulty] >> reporter: so we'll see what comes out of this meeting, if there's any unity. meantime, over in the senate democrats are also going to get together and talk about the president during lunchtime.

and while majority leader schumer says he is for joe, his vulnerable if colleagues aren't on the same page, stuart. we're talking about sherrod brown, martin heinrich, jon tester, they're distancing themselves from the president. and pennsylvania senator bob casey who was with him over the weekend isn't willing to pressure his colleagues to support him. [inaudible] frustrated, want people to stop talking about this and focus on november, but it doesn't seam like your senate colleagues want to -- [inaudible] >> oh, i'm not going to give -- [inaudible] i've got a race to run -- [inaudible] i'm going to focus on my race. >> reporter: president biden did get a big boost of support last night from the hispanic and black caucus chairs. the congressional a caucuses have not formally endorsed him yet but, stuart, again, the

president was very frustrated yesterday and said that he wanted democrats to stop talking about his age. that's exactly what democrats are doing all day, talking about his age. stuart: all day. aishah, thank you very much, indeed. see you later. house oversight committee chair, congressman james comer, joins me now. you're demanding the white house physician, testify before congress. what involvement does he have9 with the biden family business. >> first of all, we're asking him to testify because we request what he based his letter to america that's still on the white house web site stating that president biden was in perfect mental and physical health. i don't think anyone in america would agree with that. we wonder why he hasn't given him a cognitive test. one of the reasonses may with the reason that -- may be the reason we want to bring him in, he has been mentionedded as an adviser in one of the biden

influence-peddling schemes, specifically the americorps scheme that was overbilling medicare. there was lots of legal issues with this americorps health. jim biden came in with no medical background, no health care background whatsoever and and offered through joe biden's contacts additional capital to keep this company afloat. and when we brought jim biden in for a transcribed interview, we asked him how did you get connected with this company? you don't have any medical background. he said, well, he worked with c. to o'connor, he worked very closely with dr. o'connor. he was an integral figure in this deal, he called it, but it was a bad deal, and it's something that's now in court. there are lots of lawsuits filed. we believe jim biden has a lot of liability here. but at any point, we wonder whether or not dr. o'connor's misstatement about joe biden's health had anything to do with

the fact that he has liability in the biden influence-peddling schemes. stuart: congressman, on this program yesterday congressman chip roy said he's going to bring up the 25th amendment to remove the president from office. watch this, please. >> we know that. you know that. everybody watches -- watching this knows that. you now have democrats stepping up saying we need to have a president by committee. the former secretary of homeland security, jeh johnson, members of congress, members of his administration are saying, hey, we need to be deciding this. that's what you have right now. that's unconstitutional. we should say it. stuart: look at this headline from the "wall street journal" editorial board no less. the 25th amendment isn't for joe biden, and invoking it would lead to, quote, chaotic power struggle. congressman, what do you say to that? do you support going forward with the 25th amendment? >> i think that's going to have to be determined by his cabinet more so than congress. i certainly agree with chip roy, i usually do.

he's a sharp guy, and i think the everyone in america realizes this president isn't up for the job, and he sure isn't up for an additional four years. we're all concerned about, number one, when's actually calling the shots -- who's actually calling the shots in the white house and, number two, is he going to be able to finish his term. now, what we've heard in reporting by "the new york times" is hunter biden is the gatekeeper now. i'm not even going to get into -- i don't have time in your show to get into the conflicts of interest by having hunter biden in the white house at all, much less being the gatekeeper for the president of the united states. stuart: you simply have to come up with a mechanism for getting the president out of office if that's what you want to do. congressman comer, thank you for joining us this morning. lauren, what is biden saying to the donors? lauren: i'm your guy, i'm staying in and, please, stop questioning me. donors typically call the shots because money has power and influence. but now that money is completely frozen. donors don't believe that he is

necessarily going to be the nominee even though on the call yesterday with them he was defiant. he literally told his backers, stop questioning me, i'm your guy. but they're not, according to several reports, convinced that the the case. the money is frozen. stuart: come on in, david bahnsen. do you think biden will be at the top of the ticket on november the 5th? >> i do not. the only question at this point is what mechanism by which he gets off, whether it's easy or hard. i would have guessed he wasn't going to get through this last week, and he did. i simply do not believe he can make it all the way until november, and unfortunately for the democrats, i think he's make it much harder. it would probably be easier to rip the band-aid and start whatever plan b is going to be. so -- stuart: i just don't know the mechanism for -- >> oh, it's him agreeing to step down. lauren: -- for the second debate, and he told the donors as a such. they're sitting there probably, oh, my god, how is he going to impress us? >> well, the second debate is

months away. if i were him, i'd focus on other things because he may not be remembering his preparation for the -- stuart: that was cruel. >> i don't mean it that way. that's three months in advance. stuart: let's change the subject. look at futures, please. i see green across the board. dow up 14 but the nasdaq, 68 points higher. we'll take you to wall street for the opening bell which is next. ♪ and i'm here to remind you of the mess you left when you went away. ♪ it's not fair to deny me of the --

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stuart: these,, the board has looked like this all day long. the market opens in two narvetion three minutes. all right. mike lee with us this morning here in new york city. look, you've been a big supporter of big tech. give me the three big tech stocks that you like the most which you would buy at current prices. what have you got. >> oh, google, amazon, microsoft. so these are all a kitting -- hitting all-time new highs. and the thing about new highs is when you hit new highs, you typically make more new highs. and so what you're seeing right now is, i believe, a weaker economy that is sold to the

general public. i don't think we're falling off a cliff or going into a recession, anything like that, but you're seeing very concentrated leadership at the top because of this kind of weaker than advertised economy. but also because we're having the largest technology spend in the history of the world in this a.i. revolution that's all happening through the cloud which if you go back 15 years, you have the start of big data. so all this data's been being collected, collected, collected and, like, you need a lot of computing power to go through that which is what a.i. is as of right now. it's sorting through that data so that companies can do, make actionable decisions and make sense of all these things that are coming in so they can be more efficient going forward. it's a very expensive proposition to do this which is why the biggest players can invest the most. the most amount of money. it's an economy of scales game. these companies are going to just keep winning. stuart: alphabet, microsoft, amazon. you'd buy if them at a these prices because you think they're

going higher still. >> yes. stuart: don't tell me how high, but they're going to go up. one last one for you. i was reading in the jobs report, full-time jobs down 1.6 million in the last year, part-time jobs up 1.8 million, last12 months. what the significance of that? >> that's, we are being told we have an extraordinarily healthy labor market, and it's -- look, we are in where near the 2008, 2009, 2010 where the u6 got up to the 16 or 17%, but the job market is nowhere near as robust as being sold similar to the economy. and so not only that, you haven't added a job for an american-born worker since 2018. so there's some weakness underneath the surface which is kind of a benign economy. again, taking it back to that's why the biggest are going to keep winning. stuart: i'll remember that a one. mike lee, thank you very much, indeed. the market has now opened. the button has been pressed, and we're off and running.

virtually no change for the dow industrials, down about, what, 20 points there, and it's an even split, winners and losers. take out -- look at the is s&p 500. that's another all-time high, certainly intraday all-time high. 5583, up 10 points. the nasdaq composite also at a new intraday, all-time high, 18467, for heaven sake -- 18,467. over one-third of 1 higher. let's have a look at big tech, as we say, we do this every day. we are up for alphabet, meta, amazon, microsoft is down a mere 6 cents. apple at 227. i've been away for 10 days. when i left, apple was just over 200 to. now it's 227. lauren: it's back as the most valuable company. stuart: that's right. it is, isn't it? let's look at nvidia. dethroned tesla as a single-stock etf. what does that mean? lauren: very risky, but they magnify, bigtime, the returns that you get.

it's a day trader, a thrill retail investor seeking them out. because there's so much enthusiasm behind a. a.i. and nvidia specifically, the two-times-long shares is up 4000% this year. and if -- 400%. and if you look at all of these etf tracking just single stocks, the money flowing into nvidia is almost $4.5 billion versus a billion for tesla -- stuart: a mere billion. lauren: yeah. stuart: i think he's tesla's stock, i think heavy gone up for nine straight days. lauren: yeah. and 39%, elon musk and tesla is back. on this day ten they're down $1.79. it could change. investors think the robotaxi event august 8th is the catalyst, because that's when elon musk will detail his plans to make money from self-driving electric cars. stuart: i just don't see that but -- lauren: yeah. he's a visionary, and whatever date he sets will be pushed

back, but, yeah, the market believes it. and they might believe tesla might have one of the more popular evs. by the way, we're seeing cyber trucks everywhere, have you guys noticed? we count to them on the road. stuart: the other huge gainer this year has been novo nordisk. why are they down? lauren: patients taking eli lilly, their competitor, monoif jar row, lost significantly more weight -- mounjaro. there was a study of over 18,000 patients, average a weight 240 pounds. if the patients took mounjaro, at the one-year point they lost 50% of their body weight versus the 8%. it was in jama, and and that that's one of the reasons why eli lilly is up, novo nordisk is down. pfizer's science chief is stepping down after 15 years heading up r and d at the company. he was instrumental in the covid-19 have been seen. he's done.

stuart: let's turn to lucid, an ev maker. a significant increase in deliveries? the stock's down. lauren: it's a $3 stock. so they delivered almost 2400 sedans in the second quarter, up from a year ago. okay, that's good news, yeah, but the selling price is coming down by $30,000 in the past year. that hurts their gross margins although it does make the air sedan more affordable. and if grow look at the 15 analysts that are rating the stock, they've got 1 buy. stuart: you do not invest in electric vehicle makers, do you? >> i do not. but the reason is because i do not invest in companies that lose billions and billions of dollars. and the more cars they sell, the more money they lose. is that a good business? stuart: that's a very good answer to a question. >> thank you. [laughter] stuart: let me move to broadcom. they raised $5 billion, i believe it was a bond sale. why do they need $5 billion? lap lauren to refinance some of their $69 billion vmware

acquisition. it closed 7 months ago -- stuart: you've got that look on your face. >> if you want a.i., a company making chips for a.i., but they actually pay a dividend and grow it over and over and over again. we bought broadcom at $3000 less than 5 years ago $$to 0 -- 300, our dividend is 25% a year of what we paid for the stock. it's not speculative, it's cash flow. stuart: you think the stock has got to a high here? >> it's very high. nowhere near nvidia. stuart: next case, citi. they say it's time to take profits in a.i.? if lauren. lauren: yeah,s in biggest a.i. names. their analysts suggest like nvidia and also a taiwan semi. they briefly yesterday crossed $1 trillion for the very first time. we don't have to talk more about nvidia, right? but key point going to $180 on their stock. they say if you looked at demand for the new blackwell chip that comes out at the latter part of this year, demand is not cooling

at all. if you want my opinion, i would say the a.i. rally is bubble by, i wouldn't call it a bubble. jeffreys came out with a note saying we have this basket of 27a.i. names. each of them is up on average 127%, so you're more than doubling your money since chatgpt launched at the end of 2022. >> what's the difference between bubbly and a bubble? lauren: well, because -- [laughter] that's a very good question. it feels very inflated. be careful where you put your money. >> lauren's very moderate about that which is probably more prudent. i'll just say it's a bubble but that you can't time when the bubble bursts, and this bubble's going to burst. stuart: but there will be some survivors -- well, if you mean survivors that the companies stay in business and make a lot of money, yes. but people losing 30, 40, 50% when they don't think it can go down, they think it only goes higher and that things that go up only go up further, they end up having to sell out at that loss because they can't take

what happened. this is the story of history. we're watching it right now. lauren: just to bond it out of a.i. morgan stanley's mike wilson is saying there's going to be a 10% correction in the stock market between now and november, the election, because of earnings, because of what the fed might or might not do and because of the election -- >> and mike wilson has called 20 of the last 2 corrections. [laughter] stuart: you got your dividend pick and, again, you're returning to midstream energy. an etf, by the way. >> yes. i have to stay on this theme because where wells can you get over a 5% dividend yield that's growing 10% per year, the stock itself is up about 17% this year and the fundamentals are all better than they've been at any point over the last 10 years? they're growing cash flow like crazy. i personally think there's a very good chance president trump wins, and he will be approving a lot of new projects in midstream. so there's just a at lot of fundamental -- a lot of

fundamental and financial benefits. i don't want people to ignore this sector. umi is a wonderful thing. stuart: it could be a trump proxy sock. >> in certain ways, and biden stopped all this export of lng, a lot of these companies make the terminals that could -- stuart: that stop thage, they've lifted it, haven't they? >> well, but they don't have any new terminals getting approved. that's what we need, more terminals getting built. stuart: "wall street journal" reports back in 20202 president biden went to bed early instead of meeting with germany's chancellor. we've got that story for you. nbc's chuck todd defended so-called democrat elites after biden lashed out calling them the problem. is biden losing the media? good question. mollie hemingway responds if. it seems trump doesn't have to do anything, he can let the democrats destroy themselves. i'll put it, i'll put that to bret baier. he's next. ♪ you can't always get what you

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♪ if. ♪ stuart: later today donald trump will hold his first big rally since the day after the debate. bryan llenas is at trump's golf club in doral, florida. bryan, what are we going to hear from trump today? >> reporter: stuart, good morning. well, we expect former president trump to go on the attack, to raise questions about whether or not the white house has been covering up president biden's declining mental acuity as the campaign puts it and how long they've been covering this up from voters and allies. we also expect the former president to talk about vice president kamala harris a little bit more, especially laying out the case that if harris were to

replace biden as the nominee, that she would be even more radical and extreme. florida senator marco rubio will be at tonight's rally amid speculation he could be trump's vice presidential pick. rubio is on the short list of vp picks including senators j.d. vance, tim scott and governor doug burgum. last night if on hannity trump suggested his decision -- which could come this weekend or at the convention -- could be impacted by whether biden stays in the race. >> i haven't made a final decision, but i have some ideas as to where we're going. and a little bit, you know, we a wanted to see what they're doing, to be honest, because, you know, it might make a difference. i don't know, i'm not sure that a it would. i think probably within the next week, week and a half -- i'd love to do it during the convention. my people say that's a little complicated. >> reporter: meanwhile, the republican national committee voted and approved the party platform yesterday but not without controversy. for the first time in 40 years,

the platform does not include calls for a constitutional a amendment banning abortion. this year's platform only says the party opposes late term abortions. some pro-life delegates that were there are upset. the platform vote was rushed. >> i want something that says that an unborn baby has a fundamental right to life that can't be infringed. that's pro-life and that's not in there. we could have made some little fixes and ended up with everybody happy instead of just railroading this through and not giving us a chance to read it or amend it. >> reporter: six major pro-life groups endorsed the rnc platform. tonight's rally comes 11 days since trump's last rally, a campaign source telling folk, look, part of the reason is when democrats are in disarray, why get in the way of them shooting one another as that source put it.

stuart: thanks so much, bryan. bret baier joins us this tuesday morning. good to see you, sir. >> thanks, stuart. stuart: trump doesn't have to do anything, does he? he can sit back, have a nice calm interview with sean hannity and let the other guys destroy themselves. >> 100%. and so far the campaign has done that pretty well. let the biden news cycle continue and flourish because every news organization is now asking the questions that a lot of people say they should have been asking for a long time. i mean, we've obviously covered a lot of this. >>, you know, we had all of that pushback from the mainstream media and the white house about clear fakes or cheap fakes, the videos that we ran. just running unedited videos of president biden. so, no, president trump, former president trump doesn't have to do anything. he does have to make a vp choice, and i bet it comes the monday of the rnc. stuart stuart bret, you know what's coming now. listen to how white house press

secretary karine jean-pierre reacted when the white house was accused of withholding information about biden's health. roll that tape. >> i do take offense to what ed alluded to. you know, come out here every day there's a press briefing, and we do do our to give you the information that we have at the time. and so to say that i'm holding information or allude to anything else is not -- is really, really unfair. i think people who are watching is and have been watching this briefing for this past week could say that we are doing do our in this briefing to provide information that we have. stuart: watching that press briefing yesterday, it seems to me that the white house has lost the media. >> yes. listen, i've sat in those seats for four years covering a different administration, and when a press corps gets that engaged, that angry, that frustrated, it is essentially chum in the water. they know that there is

something going on here. the press secretary has said something, walked something back. the fact that you had this press conference and the blow-up yesterday and then after all the questions about the physician, that the physician puts out a statement the overnight which clarifies, essentially, what karine jean-pierre said all during that press briefing telling you a lot. -- tells you a lot. i think how the white house has handled this post-debate has exacerbated the problem for president biden. stuart: no sound of a turn-around from the white house yet. >> no. they're going to the mattresses. stuart: yeah. >> they're, in the words of "the godfather," i think they are really just trying to hold on. because, stuart, if you do drop out as the nominee, the very next question is, why should you stay on as president for the next six months? stuart: exactly. what a situation. i never thought i'd see this in my life, but here we are. bret baier, thanks for being with us. we'll watch you weeknights on "special report," 67 p.m. eastern on fox news -- 6 p.m.

eastern. coming up, this was supposed to be the relaunch week for the biden campaign, but it blew up on day one. my take, top of the hour. freddie mac says the housing market is 1.5 million homes short of what's needed to be balanced. to how do we catch up? that's next. ♪ and we can build this dream together, stand this storm therefore. ♪ nothing's gonna stop us now. ♪ and if this world runs out of lovers, we'll still have eachwh other ♪at neymoon. 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.

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♪ ♪ stuart: economists say the housing market is at least 1.5 million homes short of what's needed. lydia hu joins us from new jersey. lydia, what changes do home builders want and need to create new homes? >> reporter: well, a home builder here told me he wants outdated zoning policies overturned, and and doing that would allow him to build more homes faster. take a look at this community that he has under construction here. what you see right behind me is actually a duplex, two single-family homes connected, built on one lot. it allows him to build more homes on this street instead of nine, that's how many lots they have, they'll get eighteen here.

but in order to accomplish that, he needs special permission from local zoning boards. and he said that process of getting that permission is painful, it's long, complicated. he even said virtually impossible. and it's not just here that zoning can be a problem. that's across cross the country. and that's why the national association of home builders says easing zoning regulation is its top recommendation to increase supply and improve affordability. they also want the country to promote career ares in trades and, get this, stuart, eliminate excessive regulations that they say add up to 25% to the cost of a single-family home. and finally, fix the supply chain. they say post-covid some supplies for homes remain hard to find and expensive to source. in particular to the builder here, he says electric call supplies, very difficult to get right now. listen to more here. >> we figure approximately 40% increase in the actual -- of the homes and apartments that we

build. some of the components to deal with lumber have dropped substantially. >> reporter: but even with the supply shortage of homes top of mind, recent data shows that construction is actually slowing for homes which is concerning, which means if these changes are not made, zoning changes, regulation changes, fixes to the supply chain, stuart, some say the country headed for a sustained shortage of homes and .hat means higher prices for stuart, i'll send it back to you. stuart: got it. lydia hu in new jersey. thanks very much. david bahnsen, how does the housing market turn around? >> i think it's supply, supply, supply. this thing the biden administration wants to do, giving a tax credit for down payment, that increases demand. but we have a supply shortage. you need new homes built and really, candidly, there's almost nothing the federal government can do. it's state, local, it's environmental regulation, it's southerning, it's the -- zoning,

it's the cost of getting houses built. and there's another issue too, people in the communities need to stop this idea that they have a right to the neighborhood be master planned the way they want. let someone who owns a big house put four units on it, increase rental income. we're micromanaging the way we produce new housing product in our country. it's not good. stuart: david bahnsen, thanks very much for being with us for the hour. still ahead, kaylee mcghee white on a writer at the new york times claiming a a bc altered their biden interview transcript at the behest of the white house. house foreign affairs committee chair michael mccaul on republicans' discussions about using the 25th amendment to remove the president from office. mollie hemingway on new signs that the media may be turning on the president, and allysia finley on whether medical experts gave biden a pass on his cognitive troubles. the 10:00 hour of "varney & company" is next. ♪ keep me in mind.

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