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it is 10:00 eastern. straight to the money, very favorable inflation news but no reaction on the stock market. i would think it had gone straight up again just like yesterday by the dow is a by mere 20 one, s&p of 3, nasdaq down 9 points. the favorable inflation news reduced a strong downside move in interest rates, 10 year treasury back to 4. 18%. price of oil this morning $82 a barrel, bitcoin roughly 58-8. donald trump will address the conference later this month. that's the markets now this. tonight, the stakes could not be higher, the president holds a press conference, supposed to be a real press conference, lots of questions and it goes on for an hour. the pressure is intense. the president's performance may

end his pregnant -- presidency if it is like a disastrous debate two weeks ago, his supporters will desert in droves, they are beginning to walk away. every morning we see new people added to the defectors list. it's now 10 we house democrats, one senate democrat thinks biden will lose in a landslide. another, senator pete welch of vermont wants biden to withdraw. george clooney went to the new york times to tell biden we need a new nominee. michigan governor witmer said it wouldn't hurt for biden to take a cognitive test. senate leader schumer tells donors privately he wouldn't mind a new candidate. nancy pelosi says biden's future is up to him but please make a decision soon, we are running out of time. the list goes on. striking that so many democrats knew about the president's problems but stayed silent, they were complicit in the cover-up and the only reason they're coming out now is they think they will lose the election. they are not thinking of the good of the country, they are

thinking of their own political future. there's one group that's firmly behind biden that that's the left. aoc, bernie sanders, l on omar want biden to stay and vice president kamala harris, and they can rely on the socialists. tonight it is all on the line. biden has to convince his party and his country that he is capable of leading america for another four years. that's an uphill struggle. there must be many democrats who wished he called it quits after one term. he could have walked away a hero but he didn't. democrats ignored his decline, covered it up and their party is facing defeat at the hand of a man they hate, donald trump. second hour of varney just getting started.

bhatia, is the big boy press conference a make or break day for biden? >> we are going to learn a lot about how the media covers it. it is amazing to watch the sycophantic media who protected president biden for four years turn on him and give him the trump treatment. we are watching with the same mixed feelings, disgusted at them for the cover-up but sort of relieved to see them finally doing their jobs. stuart: interested in this, you have op-ed, you said trump is actually a moderate. that's going to be a hard sell for many people but make your case, trump as a moderate. >> the media is trying hard to portray the election as a choice between an old man and an extremist, they portray

trump as the most extremist threat to democracy in the latest attempt has been to pin the project 2025 on him which is a conservative heritage foundation agenda but it falls apart because you can look at the rnc's 2024 gop agenda which is a trumpian document and see the agenda donald trump is putting forward is extremely moderate and different from project 2025. a few examples. it's the first time in 40 years the gop's agenda does not include pro-life language because donald trump is a moderate on abortion, think that should be legal for 15 weeks. it is not have any language against gay marriage and insists on protecting social security and medicare. these are a few ways donald trump's agenda represents where the vast majority of americans are, he promises to secure the

border, promises mass deportations which may sound extreme but 60% of americans represent and they feel represented by that view. donald trump is a moderate and that is why they portray him as an extremist because the real threat is the american people will realize trump is a unity candidate. adam: stuart: the press conference has been delayed for one hour. it was 5:30, now it is 6:30. do you think something is going on that produces that delay? >> it is nato summit, 70 fifth anniversary. there's a lot going on. i wouldn't be surprised if it was just a scheduling snafu but you never know. stuart: we will dig into it and see what we can find. alyssa slot can warning donors about biden's polling. lauren: a report in the new york times, she has seen

private polling in michigan, swing state, and trump is ahead. trump is ahead 46% to 44%. the times also reports lot can took a swipe at biden telling donors the only reason me, congresswoman, is running for the senate is because the 74-year-old senator is step passing the torch, why can't biden do that. is ahead of her republican opponent in that primary in that race but not by much. it's considered a tossup. stuart: she is saying the donors are retreating from biden. that's a big deal. when the money comes away you've got a problem. back to the markets, we are seeing progress. a favorable inflation report first thing this want to come the dow went down, the market was down and now we for cover, dowser beatty to but the nasdaq is 6 points lower. the ai rally seemed like some

of the air was coming out of the balloon but now it's going back up again. how much longer can the ai rally run? >> we got 12 to 18 months in this ai rally and that's because we are in the first and second innings, we got tool makers, company starting to put ai to use, you got adobe on the screen and adobe is making money doing ai and we are seeing robotics take place and has the, we've got robots that are going to take over and the energy business all built on a are for what does that is doing because it's the software behind ai the is making the mark and the chp site with nvidia and apple intelligence. stuart: there could be some individual winners and losers in the ai space but that space overall is going to keep making progress for 10, 12, 15 months, that's what you are saying? >> the next 10 to 12 years, we

are just at the beginning. there's going to be a big ai rally. we have a little dip as people don't know how to make money but it will pick up and make a big hockey stick going forward. we are going to see winners and losers, some will change. the companies that put ai to use will breakout but in the short term these are the stocks that are there. apple, amazon, google, nvidia. stuart: let me talk about ethereum, right behind bitcoin in terms of popularly. right now price of $3100 on ethereum, you like it, where's it going and why do you like it? >> will get to 3500 by the end of the year, the ability to put ethereum the same where you trade bitcoin is going to open up a lot of the market. what we don't see in the us is the big push for crypto the tapping outside the us so if you go to places like dubai,

that's where the innovation is happening around block chain, bitcoin, that's where you will see transactions, the ability to tokenized services and that is why there's such a big run up. stuart: the cryptos are not doing that well in america but very big in the middle east and asia. >> there is clear regulations in the middle east, less so in asia but they attracted a ton of investors. we've seen a lot of billionaires go to dubai, you can't invest in the us without going through regulatory hurdles so if you're investing in crypto in the us you have all the federal regulations around you and a lot of folks realize that's not what they want so if you go to the middle east and want to make those investments those banks are more welcoming and have less regulation and regulation around bitcoin and block chain and cryptos is so clear as to what is allowed, what to being regulated and what is not. until we get rate regulations in the us we won't be able to compete.

stuart: got it, thanks for joining us, see you again soon. back to lauren who's checking out the movers. the gaming stocks are doing well. lauren: the head of the paris olympics. what's going on on sunday and another final, people are betting again. looking at the on picks. blue on the final of the soccer championship on sunday afternoon. england is playing spain and that is a big deal. proceed. lauren: you know i don't know what you're talking about. the supreme court ruled on sports betting, double the number of people betting so it's going to be, might bring in some money and interest for these copies. we when i didn't know you could bet on the on the pics but i suppose you can. lauren: the england game sunday afternoon. then we have hubs spot.

lauren: they have 6 quarters in a row, 20% revenue growth, they are up again today even though there's a report that google is not interested in making a bid for the because they don't want to deal with the regulatory had it, google saying i don't what to become bigger because the ftc and antitrust agencies will come down each. stuart: a surprise stuart: surprised me because i know wd 40 a, everyone has a can of wd-40 somewhere, very specific product and owned -- not owned by the conglomerate. wise up 4%. lauren: of san francisco, revenue up 9% in the quarter from last year and margin strengthening. $230 stock. stuart: thanks. coming up, squad member alexandria ocasio cortez following through on her threat to impeach supreme court justices. we for you who she's targeting and why. the democrats are in misery over biden's path forward, major bills in the senate are being pushed aside. senator john thune says

democrats are more worried about keeping their jobs than doing the job. the senator is next.

the moment i met him i knew he was my soulmate.

"soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title.

stuart: on the markets we have the dow up 116 points and the nasdaq down one hundred 27. it's a real split market, home depot, caterpillar, united health, they are to gather providing 52 points for home depot, unitedhealth is 26. the best part of the hundred

points because of those three stocks. next case, biden facing growing calls in his own party to drop out of the race. several progressives are coming to his defense. hillary vann, who are these progressives and what are they saying about biden? >> the usual suspects, democrats we talked to yesterday are sticking with biden even though george clooney is bailing on him. clooney's concerns about biden's mental fitness, questioning his ability to win is causing some democrats to clam up. does that concern you that someone like george clooney says you need a non-dubbadash new nominee. >> he's a movie producer, needs to produce. can you make another four years? >> i appreciate hearing mr.

clooney, and in the democratic family. >> of people close to president biden, >> he bled more democratic support. calling on him to step aside my peter welch becoming the first senator to do so. and he needs to reassess whether he's the best candidate to do so. for the good of the country, calling on president biden to withdraw from the race. want of biden's second term would mean for the country if he's already showing signs of decline? something that's troubling democratic allies like clooney, democrats are either ignoring or avoiding. >> is there any symptom president biden could display that would make you question his mental fitness? >> he's good to go. >> there is not something he could do that would make you

think maybe he can't serve another four years? do you think it is okay to have a president where there is this open question about whether or not he's in cognitive decline? >> do you think it was okay to have donald trump in cognitive decline his entire four years? >> reporter: democrats in the senate will have a face-to-face with top biden advisors today over lunch but that's not who they want face time with. one democratic senator told reporters this is a total waste of time unless the president comes here to the hill and shows up for a face-to-face with them. stuart: your fearless. >> john thune is with me. and in the back burner in the senate.

don't tell me it's defense spending. >> you are correct. it is defense spending. the national defense authorization act is the most consequential legislation we deal with on an annual basis, leaves out all our priorities in terms of national security requirements, making sure we are able to face any threats we face the we might encounter around the world. that is something we do annually. chuck schumer is indicating it is unlikely we will get on it. a couple weeks after the convention where we process at on the floor of the senate but they are focused on politics, focused on the possibilities of losing elections, the november election on the senate side and the house side, very worried about president biden and his prospects and how that impacts down ballot races. that the objective of democrats in the senate so chuck schumer every week rolls out the summer of schumer showboat's.

and in a tough political position instead of dealing with important issues like national security needs. stuart: more cracks appearing in the democrats wall of support for the president. and and and do you believe the president is toast? >> i think his policies are toast which i don't think whoever they put on the ballot is going to make a difference when you have 20% inflation and the fact that it's costing the american people $13,000 more per year for the same goods and services they had to buy before biden took office, open southern border, incivility around the world, the policy and the issues will sink the democrats in the fall election. having said that if i were democrat rally.

i would be very panicked right now about having president biden at the top of the ticket because the american people, the question in front of them is if we face a global crisis, is president biden the person you want in the situation room as your commander in chief. that's a threshold issue the american people are responding to and that's why democrats are becoming so nervous in the house and senate. stuart: the press conference originally scheduled for 5:00 eastern time has been delayed to 6:30 p.m. . we don't know the reason for this. is there a suspicion that something is going on in the president is not really prepared to do a full-scale press conference what is delayed and delayed? what's going on? >> good question. i think the fact they keep pushing this back, there's something amiss here. i keep coming back to the fact that this presidency is all

about high prices and open borders but also in the basic level competence on the world stage and having the 75th anniversary of nato being celebrated in washington dc this week it is clearly an opportunity for the president to show leadership on the world stage but for whatever reason there seems to be questions whether they are going to proceed for that press conference and i think there are a lot of questions among the american people but i would argue also among our allies and adversaries around the world whether this president is up to the task. stuart: very important press conference tonight. thanks for joining us. appreciate it. fox business will be taking biden's press conference live and it is now at 6:30 p.m. eastern. aoc moving forward with her threat to impeach conservative supreme court justices on what grounds? >> she filed separate articles of impeachment against samuel alito and clarence thomas

because they failed to disclose transactions and failed to recuse themselves in situations where they are a family member had conflict of interest. >> despite the overwhelming appearance of a conflict of interest, justice alito refused to recuse himself from cases surrounding the 2020 election in cases and cases of the former president's legal immunity in the at tack. the attack. what a reasonable person question that justice alito's conduct exhibits and demonstrates reasonable concern for bias in these cases? absolutely. the questions before the court had unquestionable implications for thomas's wife and consequently thomas himself. making his refusal to recuse one of the most shocking examples of conflict of interest in the court's history. >> impeachment has no real chance of advancing the

repugnant house but this is a motivating issue for the likes of aoc. they do not want, they fear a conservative supreme court. blue when they don't like the court's decision so they try to change the court. thank you very much. 8 of the top 10 cities where homes are selling for below asking price, 8 of them are in florida. mitch rachelle will try to explain that for us. developers are adding more luxury amenities to their buildings to convince people to rent from gyms, pools, party areas. gerri willis will look at these luxuries, her reporters next. ♪

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40% yesterday, lots of reasons here, ray wong was talking about ai and michelin's robo taxi but i tie into the favorable inflation data, the cpi because rate cuts are good for tesla. bring down rates for cars. stuart: american airlines. >> this is is all about the's warning lower profitability and airlines getting hit hard if you look at americans specifically does down 5%, we could see the lowest close since may 2020. stuart: record travel over the weekend, 3 million a day flying around and all the airlines are down. >> all those deals with their unions, labor is expensive, jet fuel is expensive, the increased capacity, they have the issue with planes get a are not getting from boeing, record demand but a lot of operational challenges. we when i learned my lessons with airlines when i lost my shirt on people expressed 30 years ago. think i'm going to invest in a cruise line?

dream on. quantum scape. lauren: never heard of them? no one has, 29%, battery sale startup. volkswagen's biggest shareholder will use quantum scape's technology and a million volkswagen vehicles. stuart: high prices, high mortgage rates that many homebuyers on the sidelines. some developers lure people into record property by offering luxury amenities. gerri willis joins us from a rental property on long island, new york. what kind of amenities? >> it has a beautiful pool and a terrific jim but kayaking, a marina and even a golf -- i want you to hear from the director of the vice president of design for avalon who will tell us about this. tell us about the kind of

thinking you had in designing this beautiful community room. >> welcome to avalon when we design our communities, we start with where we are located and in this case amazing waterfront. what we did was really open up water and make sure that we are giving the feel of being close to the water and that means how we select colors and lighting and light blue and sandy colors, you find that throughout the property. i was amazed by this much i want to talk about the actual amenities you haven't how you decide which amenities to put in and how people are reacting. sometimes i am not using that. do you find people are using the amenities here? >> when we design our amenities

we start with getting feedback from residents and once this community was built in 2022 it has been two years now we are getting great feedback from residents. it starts with upper spaces and how different settings are located but also the fitness center is being used really well and they are getting rented out for parties so it's looking really good. >> reporter: you can see it is a fascinating property, this is really changing, rents are getting soft so a lot of people are going to be interested in this kind of thing. back to you. stuart: thank you very much indeed. according to readfor an, 8 of the top 10 cities where home prices are selling below the asking price, 8 of them are in florida. mitch rachelle joins me now. why are prices falling in 8

cities in florida? >> two words in that to use, asking price. asking prices are too high. it is not that prices are falling. if you look at prices in florida, they are flatlining relative to where they've been the last 12 months, not a problem but sellers. i once used the word greedy with you and you didn't like it but i will use it again. sellers are getting a little greedy and putting their asking prices too high. there's a house on my street where i live in florida that asked about 15% above what they ended up getting and they got $100,000 of the number that i told sellers they would probably get but they interview a bunch of realtors, they pick the one that gives them the answer they want in terms of a listing agent and often times that's a price that's too high. homes are selling in florida, there's a lot more inventory in

florida than there was a year ago but we are talking asking prices, not getting prices. stuart: if i was a buyer going into florida i would start lowballing. >> what happens, let's say you think your house is worth $1 million, probably 300,000 above where it should be and somebody comes in below one million dollars, you are all of a sudden in salted. if the real price should be one million 2 and somebody offers 900,000 you wouldn't be that in salted but you think it's a million 5 and that starts happening. realtors do their customers a disservice by letting them list prices that are so high. stuart: i can understand why they do it. >> if these asking prices, selling below asking price, that's fairly good news in that you can get in a little less than you thought. >> if that house sells for what houses are trading for in the neighborhood, fine.

but else $100,000 more than the person 300 how those is down sold 3 months ago i think price and the media is hitting florida really hard because there was a housing boom. it's an easy story to write that i wish they would do a little more. stuart:. you are a real estate guy, thanks for being here. still had ahead. house oversight committee chair james comber has subpoenaed three white house aides. he wants them to testify on biden's mental state, details on that. calls growing in the democrat party for the president to drop out of the race. what happens to his war chest if biden is no longer on the ticket? madison alworth has that next. ♪

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stuart: on the markets, split decision, nasdaq is down 161 points. president biden has $240 million in his war chest but with growing calls for him to drop out where does the money go? madison alworth has the story. you tell us what happens if biden's funds if he drops out? >> reporter: the fate of it depends on who would replace him at the top of the ticket. of kamala harris moved to the top she would be able to inherit most if not all of the money because her name is already on the ticket. if he's completely replaced, a new person running for president and vp, it becomes trickier. of that money that money can't just be transferred to another campaign. i spoke to ken gross who said there are a couple options. one is it will be given to the democrat national committee. the challenge is stepping in with dollars into the general

election which after the convention in august. another option is campaign money could be converted to a political action committee but they can only donate 3300 to the campaign. finality, this is probably likely, funds could be transferred to his super pac. super pacs are independent expenditure committee to can't coordinate directly with the campaign. a lot of this goes towards advertising but advertising dollars don't stretch as far in the hands of a super pac. >> the ad time is more expensive than for a candidate. a candidate gets ad time under fcc rules so that money will not go quite as far in the hands of an independent expenditure committee as opposed to a campaign committee. >> reporter: the war chest could also be seeing donations slow.

high-profile donors have called on president biden to step aside and nbc news reports fundraising could drop by half in the month of july. lots of talk around the money which is the lifeblood of politics. stuart: it sure is. a whole series of problems. thanks very much. the house oversight committee has subpoenaed three top biden officials. at issue is there knowledge of the president's cognitive decline. >> the oversight committee subpoenaing three top biden officials. you probably never heard of them but they are very powerful. the senior advisor ashley williams, deputy chief of staff, cini and anthony brunel, first lady jill biden's top aide. >> these three individuals i subpoenaed, very behind-the-scenes staffers have been leading the cover-up,

protecting president biden, limiting his interactions, writing notecards saying stand up sit down, shake this person's hand, turn around and leave. what it appears may have been happening is these three no-name staffers may have been running a shadow government. this is a major cover-up, do we have a manchurian president? liz: he wants depositions now and after the testimony the committee can determine if they should use the 25th amendment to take biden out of office. i know it is tricky. vice president kamala harris and most of the cabinet to say do it but depending on what that trio says. stuart: okay. next one is for you. new york democrat lieutenant governor antonio del gato is calling on biden to end his campaign. the hits keep coming. >> the party's power base wants trump as far from the

presidency as possible and they think if it is trump/biden, trump wins. doll gato writes this. president biden deserves our eternal gratitude for what he has accomplished. he can add to his legacy showing his strength and grace by ending his campaign and making room for a new leader. lose your ego, passed the torch. but how do you pull biden from office when he keeps saying he doesn't want to go and hunter biden and jill biden are saying don't go, stay? you get a leak from whistleblower who says there are national security concerns and the president of the united states is not fit to handle and i will give you some examples. stuart: that could be a game changer if that's a valid point to make. stuart: coming up nikki haley released her delegates and urged them to support donald trump but haley says she wasn't invited to the republican national convention. brian kelly asks trump why he didn't invite her.

you will be surprised at her answer. we talked to brian about the final set of the european soccer championship. england will face off against spain sunday. who does branca lead think will take home the trophy? i will ask him coming up next but first, we are playing this song. vindaloo, sung by all english soccer fans. the bar i was at yesterday was singing it, it was great. we will be right back. ♪ ♪ (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. empower. what's next. everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white

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stuart: let's check out big tech, all of them down this morning, amazon, alphabet, apple, nvidia, all of them down 2.8%. a welcome sign for many investors with a big tech market, 418 on the 10 year. it is now 10:50 one eastern time meeting it is time for brian kilmeade. you spoke with trump not inviting nikki haley to the rnc. why didn't he invite her?

brian: i didn't say don't invite her but i did ask and was surprised by the answer, nikki haley, former governor of south carolina and is ambassador to the united nations said i told my delegates go to trump, i'm voting for trump but have not been invited to the rnc. he said i heard that this morning, he was watching fox and friends. i will look into it. he stayed in too long, compared to john kasich is supposed to rubio, when they looked like they were going to lose got out. to santos got out after new hampshire. i was surprised by that answer. the door was open where i heard it, and she handled it well and he was being very honest but i think when you compete hard, he felt it was too hard, ted cruz

and marco rubio -- stuart: it would be to trump's advantage to invite nikki haley to the convention. she would be regarded as someone moderate and perhaps bring in support. brian: he shows he is going after moderates but i asked him directly and he said know about abortion, he said we will leave it to the states. that is in the platform. when it comes to ibm, complying with that, marriage between a man and a woman, take it out, i am not against gay marriage. summarizing what he said. i don't want that in their. let's keep the controversy out and saying i want independents. he said i feel i will get those nikki haley voters anyway. why take a chance? stuart: dana white is going to speak before trump at the convention. what do you make of that? brian: last month at his event

in new jersey he talked about the decision in 2016 when trump said i want you to speak at the convention and he said yes and you don't want to do that or be partisan, he's my friend, i am doing it. if he asks, i am going. not only is he doing it but is introducing the speaker right before, you know the former president, legitimate friends have great respect for each other, they were there for each other at the weakest times in their business careers. they lean on each other. that is what he talks about. what he needs i will do and he also said bar none, the toughest guy that i deal with in business and in the ufc in the octagon, donald trump, what he's been through, he believes that as tough is anything he has seen. stuart: i want your take on the european soccer championship.

england took down the netherlands and spain in the final on sunday at 3:00 pm eastern. who do you have winning this. brian: we fought a revolution to get freedom from england but i appreciate what they did for our founding. i also am fascinated to see the us fired their coach. we've got to get ready in america. i am pulling for england. about time there is a change. late yesterday, and interesting substitution at the end but i looked at the european championship at the same time and the fact that non-soccer players are watching this who never played the game in america and to find it fascinating. it's been great for fox too. stuart: i was in a bar for several hours, in the england game, the bar was absolutely packed.

the atmosphere was electric. we've got to get to this bar three hours earlier to get a seat or get in the door. did you see the game yesterday? brian: i saw it. it was right before the game started. nothing from you. i watched by myself in the office. i would have gotten down there and kept checking. stuart: come to hoboken with me on sunday morning. see you soon. just ahead. senator john barat so on nuclear energy. miranda devine says democrats are trying to convince the president to step down. peter morici on why billionaires rushing to support trump may be disappointed. the 11:00 hour of "varney and company" is next. ♪

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>> despite joe biden and the democrat's best efforts to actually hold all of u