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tv   Cavuto Coast to Coast  FOX Business  July 16, 2024 12:00pm-1:00pm EDT

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you are making me make 1990s too late by your commentary and i remember the 80s. 82. i wasn't born. stuart: murphy. >> 1982. i was married with two children in 1978. what did you say? >> 1982. stuart: the definitive answer is 1982. lauren: you weren't really right. coca-cola has actually had a low-calorie option since 1963. was called to but it didn't sell well. they theorized it was because it lacked the coke branding. a new formula but developed and diet coke was launched for the taste of it.
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neil: did lauren say she doesn't run over the 80s? is that how young she is? i go back to the 1880s. stuart: i've got you beat. neil: that's really depressing. thank you. we are feeling an unusual priority going on in the markets where the dow is searching economically. you don't often see this, the big contributors will benefit those you most often hear about from a trump presidency. trump is following the records and the trump trade. >> reporter: they are mostly rising on optimism that we are going to get a rate cut off of
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fresh retail sales showing sales were flat but stronger than expected boosting confidence in the soft landing everyone hopes for. traders are 100% certain that we are going to get a rate cut. investors are expecting 1/4 point cut that would bring the funds rate to 5.4%. let's look at the markets. the dow is searching to a record high on pace for its second straight record close. s&p is up 20 points. fractionally, some of these market moves could be attributed to the trump trade. more investors are betting on the potential trump victory and what it means for markets. trump media from truth social saw a surge after the
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assassination attempt from saturday. we see a pullback down 8%. this follows yesterday's close and was up 30%. shares surge 110% since the start of the year. cryptos are part of this, bitcoin trading 65,000 approaching record territory. earlier it was pulling back and seeing gains. it was up 11% on the view that donald trump and his new vice president will pick, j.d. vance are crypto friendly. to run on the presidential ticket and trump is due in nashville. finally, let's look at the betting odds on this election.
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contracts for that trading $0.68, higher than last week's $0.60 contract for president biden winning, trading at $0.26. the gamblers are watching this kind of think trump is the better bet, might even say they think biden is the underdog for now. stuart: obviously they are betting this will happen. charlie gasparino, we talk about the trump trade is getting more attention following the disastrous debate for president biden. the trend is obviously donald trump's friend. talking about the money, where are we? >> reporter: initial trades started after the debate, energy stocks and deregulation, letting people drill, that's more supply.
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maybe exxon, the initial thing was positive for energy stocks, negative for bonds. trump -- it could be inflationary or the deficit. lauren: joe pesci for a second. charles: here is where it gets interesting. jd vance as vice president, there is no better more articulate spokesman for maga economics than j.d. vance. is a protectionist. he likes bitcoin. tariffs, trade wars, week dollar, jobs in the rust belt. may be not as much support for ukraine but that would be good for the deficit. less spending.
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the protectionist thing for j.d. vance needs to be factored into the trump trade and maybe it will. j.d. vance is the vice president, once compared the vice presidency to a warm bucket of spit. i doubt it wasn't. but but i think j.d. vance would be a consequential vice president the wasn't just picked because he's a smiling face. he's a former venture capitalist. he's very populist, the most articulate spokesman for populism. if you think trump is going there on amaga economics, his instincts by the likes of gary:larry kudlow, people who
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believed free trade and free markets to the most extent curtailing his protectionist urges. you got one of the leading components of that sort of stuff. then who becomes treasury secretary? bob lightheiser with trade policy, j.d. vance should be inputted in your little calculator in -- i read his book years ago. he's a really smart guy. this guy is the real thing but he brings interesting economic ideas and some would say baggage. he might -- larry kudlow overnight. neil: the convention continues
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in milwaukee, focus on a certain issue that hasn't gotten much attention until now. a big issue for most americans. >> reporter: the big focus is crime with some border conversation. one of those issues has been in the spotlight. crime hasn't been but to get ahead of what we hear from republicans at the convention the mayor of the city downplayed crime as an election. >> year over year, not much to touch. the records of donald trump and president biden, the clear winner in terms of reducing violent crime in the united states and his presidency. >> reporter: we expect native speakers to offer a forceful rebuttal.
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in arizona, west virginia, never had a and pennsylvania. we expect to hear from every day americans, relatives of victims of migrant crime, advocates or criminal justice reform and families who lost loved ones to fentanyl overdoses. republicans say president biden's policies are to blame for high crime even though those crime rates are not on the rise right now. >> violent crimes are slowly trending down but still a major problem. they are at a massive high when president biden came into office was when crime ratchets up and starts to come down, you can't just celebrate that. it's massively up from where it was under donald trump. >> reporter: the most high-profile speaker tonight is nikki haley. we watched the primary process
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unfold where she traded jabs with donald trump but she's here and our colleague sandra smith is reporting her speech is going to address people uncertain about donald trump and make the case for voting get for him and she looks plain why she is voting for him after she tried to come for his job. lauren: she wasn't invited to the convention and now getting a big speaking role. something is in the air. the south carolina republican chair and are in see. how do you describe what we are witnessing now in milwaukee. prior to convention planning what happened before the convention started. some people, pinching themselves wondering if this can last. what do you think?
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>> none of us expected the convention to go this way. we saw in pennsylvania a truly heinous act but what we also saw was a candidate who took a bullet for this campaign letter really which i think has given extra result to republicans across the country, make sure that we win. credible unified party. successful campaign, successful politics, addition and multiplication, nikki haley coming to speak this evening, another expression of that. that's what she's going to talk about this evening. this is about winning. the party in my mind is more united than i have ever seen it before. neil: these changes, last
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minute change allowing nikki haley to speak let alone attend the convention and picking j.d. vance who we were told was not the choice originally of the former president, he was leaning toward marco rubio, doug bergram, than the shooting. i wonder if that was the catalyst. if it's a little different now, he is legendary for holding grudges, that is reputation. those are two acts right there. what do you think? >> trying, yes, donald trump is going to do with a vp pick, incredibly dicey to begin with. someone who knows what he was going to do, i had ideas that he would wait until the last minute to make this pick.
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he understands showmanship, keeping people interested in the plot and what's going to happen and keeping people tuned in. he held his cards until the last minute. j.d. vance is going to be an excellent spokesman for a trump agenda. you had public speakers on the network talking about this, economics and so forth. he will be a great advocate for that. neil: was there something that change the here? because he has in the past said some awful things about donald trump. we often hear that out of vice president will candidates, being vice presidential choice, but this shows this idea donald trump never forgets an unkind word. he forgot a lot of unkind words and let them go by and in bringing nikki haley into the
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fold and others into the fold, is this a new donald trump or the next donald trump you've always known? >> this is the same donald trump. he can take criticism and can give criticism as good as he gets. we've seen that for almost ten years based on the national political stage and working with people he ran for president against in 16. folks he had nicknames for famously. he can take a punch and give a punch but building a campaign, carrying forward a message she wants to take forward looking for someone who would be an advocate and sell what he wants to sell. neil: former are in seco chair with big jobs in the party. i want to draw your attention to corner of wall and broadway. the s&p and the nasdaq, not so today. a lot of money transitioning
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from traditional stocks. what is interesting as well in looking at this and the momentum behind it. the russell 2000, with company stocks, that too racing away and there is this development, stocks pointed out, the dow the year out there following transport stocks, transportation stocks, that is running away, took 2%. the reason we mentioned that a lot of people say truckers and railmakers are doing well, must be filled with goods or will be and they will be filled with goods. a precursor, some say, to a turnaround in the economy and a boost, as transports go, so go
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the moment i met him i knew he was my soulmate. voya"soulmates."ed, 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.
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oo this is a good book title. adam: tragedy the stuff investigation. they control spending and budget and purpose whether they are serving any of that. chad -- chad pergram on capitol hill. >> reporter: bipartisan lawmakers growing restless about the vacuum of information related to the shooting. there were supposed to be briefings with kimberly cheadle today and the hearing on monday. >> a lot of questions, to ask the director on monday and hopefully give us some
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transparency and the answer questions. >> reporter: fox was told today's original briefings may be up in the air. fox says a briefing for the homeland security committee is fluid. the source says the source is influx and don't have confirmation yet. lawmakers demand answers about what went wrong. >> experts that it is not the way it was supposed to be. either three or four or five buildings? it a limited number. why breach of them secure? >> reporter: cheadle canceled a briefing from a schedule change, she appeared on abc, spoke about the building where the gunmen took his shots. >> that building has a sloped brief at its highest point. the safety factor would be considered the and the decision was made to secure the building.
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>> reporter: two members tell fox they are anxious about the lack of information, the house homeland security committee invited cheadle, alejandro mayorkas and fbi director christopher wray to testify at a hearing on tuesday. stuart: i want to go to bob q sack, investigations into what the secret service new, these routinely come up every time we have a tragic incident. >> republicans on capitol hill are very upset. democrats have their questions as well, hard to see the director of the secret service surviving this and there could be others. the incompetence reminds me of january 6th. makes no sense and her explanation of the sloped roof
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doesn't make sense. talking about safety, safety of the person you are protecting. whether she resigns, she could be impeached. neil: the secret service. what are people saying about him. >> it's bad for the administration because they dropped the ball, wasn't cheadle's decision as far as that roof but the buck stops with her and there are other people going through difficult questioning, massive oversight of james,. he will do a lot of it on this topic. neil: talking about my impression of a very different
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donald trump showed himself last night for good reason. he was almost killed, within a millimeter of getting killed. very thoughtful, calm appearance before the convention, didn't say much of anything and thinking in the context of inviting a former bitter rival to speak at the convention, the choice of j.d. vance who said horrible things about donald trump years back and regrets them now but the all donald trump might have passed over that selection and did not and then, i want to this with sean o'brien before republicans at the convention, very critical of the republicans in the past. i asked about that and what it said. why he was doing this.
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>> donald trump was interested in hearing from you. he didn't wait a month to say yes or no. >> he got criticized when the announcement happened. the far right called him to rescind the invitation. the courage and conviction not to do that which i hope democrats give us the same opportunity. the last 20 years wavering much to a lot of dissatisfaction in the union. >> donald trump had the backbone to open the door to this republican convention and that is unprecedented. no other nominee in the race would have invited the teamsters into this arena.
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now you can have whatever opinion you you want but one thing is clear. donald trump is a candidate not afraid of hearing from new, loud, often critical voices. neil: obviously he had a red bull or something after my interview. it is unprecedented nature. the month to which he is referring, he has this request out to president biden to speak at the democrat convention and no one has gotten back to him. that's not a good image. >> it's a terrible image. i'm dumbfounded he told you that. he said to you, crickets. what is the white house doing. he is a lifelong democrat. how do you endorse someone who is not reaching out to you, some unions are upset at the teamsters, could be another great headline for trump,
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teamsters endorsed trump and that would be devastating. neil: you reminded me the great student of history you are, whenever the official union endorsement is, united auto workers most of whom have gone for president biden, the fact is in history, a good many of them have gone with that, we saw it with george hw bush, they will do their own thing. >> george w. bush wanted the teamsters, it is smart for trump. this is a new trump, a different side of trump. we will see how long at last, picking j.d. vance, a lot of speculation that he will be the nominee in 28. i thought he would pick someone
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more boring that wouldn't grab headlines. that shows you trump is in a different place right now. neil: i don't know if it is attributable, something has changed it but it's noteworthy. you will always bring energy to the table. a walking encyclopedia on this. the president will be and never had a today. one thing he's been talking up is the idea capping rent increases at 5%. %. i'm thinking to myself for the government to do that, if you put a mandatory on renting 5% is higher than the present inflation rate. just asking, throwing it out. why? ♪
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adam: we got inflation at 3%, president biden making a proposal to cap rate increases at 5%. why would you want to something higher than the current inflation rate. >> reporter: new york city has rate control, washington dc has rent control for some
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buildings. president biden wants to federalize rent control, congress to pass a law that says corporate landlords cannot raise rent more than 5%. of a corporate landlord breaks that the company loses all federal tax break. president biden picking the point he is still a capitalist. >> president biden: i'm not anticorporate. but corporate profits have doubled since the pandemic. it is time to get back in order. it is time, for example, if i were elected, make sure rents are capped at 5% increase, for apartments and a like at homes are limited to 5%. >> reporter: the president following this up with a post on x from the official president of the united states account saying i'm sending a message to corporate landlords, families deserve housing that is affordable but rent inflation increased 22% since the month president biden came
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into office. prices up because inflation across-the-board we are dealing with under this president. the plan is being met with skepticism. >> reporter: every single program president biden puts forward is an inflationary program. we can stop that and say let's pause the brakes. get inflation under control and stop the reckless spending this administration wants to do. >> reporter: this is more vote buying, research according to the nar says rent control does not work. neil: i want to go to kevin hassett if it comes to pass. widely recognized on both sides.
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this is a big deal when richard nixon, can the government force that issue? is it an artificial restraint? >> it is. the approach the biden administration has taken is something they could legislate and they are withdrawing federal-aid with the rent control program but the history of rent control is truly awful. it attacks supply. if you look at what's going on in america, half the inflation over the last year comes from housing and rents are up $500 a month for the average person and that is hitting hard. what you need to do is relax zoning so you can have more construction and do something to feed a supply and what the biden administration is doing is attacking it and the history of rent control, people don't to build new buildings because
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they don't think they can make a profit of prices change. if there's a 5% supposed biden spends a lot of money and there is 6% inflation and you don't want to own that building, people won't do that now. neil: let me ask about this ticket that is official for republicans, donald trump, j.d. vance, they differ in some areas, wants higher taxes and some companies, i don't believe donald trump is keen on whether trump will be the boss. what do you make of this, it's a very populist ticket, very nontraditional views on the economy and some are interpreting as igniting get inflation. what do you think? >> it was a few weeks ago we
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hung out down in palm beach and i got to know him but also over the last couple months, i am not the guy who gets political spin from people, one of the most talented people, the kind of person who's probably the future of the republican party because he's so charismatic. neil: people remember ronald reagan cut taxes, no tariffs and all that and now we could have an administration going the opposite direction. what do you think of it? >> it's not the opposite direction. donald trump has a platform at the convention. the top two things are deregulation and tax cuts. senator vance is on board with the trump agenda.
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remember when we were talking about the tax cuts when i was in the white house i said stuff about what would happen to growth and president biden said corporate profits doubled, corporate tax revenues doubled too like we said would happen. what is going to happen is the trump agenda will make america great again to the extent senator vance has policies, it will change his mind as he sees the data. stuart: you acquiesce to the number one but real quickly, the early read in the bond market dissipated somewhat, whatever donald trump -- they see the same possibilities you do, they report these tariffs, former president is considering. do you see inflation returning? >> that is a partisan story right now. what policies from the trump
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administration have changed so much of that and administered in the gave 3% growth, 1.9% inflation is going to give you really high inflation. donald trump is saying the stuff i did worked and i will double down on that but not changing the story radically from the first-term. of those policies gave one. 9% inflation explain why it will be 4% or 5% now. i haven't seen a good story. the inflation story is partisan nobel prize winning economists and they don't have an argument. they say it but explain why it is different now compared to the last term and is not a good story for that. neil: all sorts of jobs for you. everyone has respect for you. you could be a treasury secretary running the council of economic advisers and take over that job again. where are you on this and what do you want to do? >> i'm not angling for this job
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or that job, i endorse donald trump, support him and if he needs me to do something i would help if i could but i am ready to stay on the x side and do the work i am doing so we will see how it goes. i don't think it is par for the course time, don't know who will get what job but i can say he does what he wants, just about everybody i know that was in the last administration is eager to go with him and finish the job. one of the other stories, nobody wants to work for him is false. everyone i know. neil: you are not angling. i'm angling for guy peary's job. >> i want your job or be quarterback of the patriots. neil: they love you here as
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well. thank you very much. by the way. amazon prime day kicks off, a retail bonanza. a microcosm of how shoppers feel and how voters are feeling. $193 and a torrid run. this really is if you think about it about the strength of the consumer he or she might be inclined to buy these goods but slap it on plastic. >> i'm all about performance. stock market performance and price performance, they are making record profits, that spills over to people psychologically which is positive. if you look at amazon as a
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trade or investment it is up 40% off of its lows for the market selloff. how much more upside? that you can't participate or belong to, amazon. there is better areas. what i've unlocked is resources and energy stocks have nothing to hold them back, the best risk/reward. if you look at xle, the price-earnings ratio for the energy sector is 8. those stocks are good value but you have to choose. do you want what has been leaning the race or someone lagging behind that has a lot of upside potential to play catch-up. neil: how do you see things going? the dow the record, a lot of money coming out of technology, could be a one day shift.
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what do you make of that? >> it is priced by share price but it is not a fair barometer of the market, the nasdaq is very strong and a lot of sites you need to participate instead of leaders so you want to see the rotation. integrate example of a strong market. guess what? everybody bought right back in and you see how markets react anytime they have action but i'm looking and s&p 6000. a lot more upside. if you simply take the distance added to the old top, that is what the s&p adds up to and there is nothing holding the markets at this point. neil: looking at these numbers away no one else was we will see what happens. good seeing you again. two things to let you know.
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a verdict has been reached in the bob menendez bribery trial. we don't know what the verdict is as it goes down in lower manhattan. i have never seen a 100% bet on anything. we are sure that neil cavuto cannot lose weight. that was the only time i've ever seen that but 100% bet that by september interest rates would be lower. the fed would have cut rates 100%. after this. ♪ ♪
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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.
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adam: republicans might be saying that is the ticket, donald trump, j.d. vance, does not extend to a lot of foreign leaders worried about the message they might be sending the world. i think part of it goes back to this is going to reverse a lot of traditional nato european support, ukraine will take a different stand and on we go.
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for some of those leaders it is the stuff of anxiety. is that justified? >> sure, they are anxious. they are in better position because so many of them are treating nato as the priority that it should be as opposed to the 35 years of peace dividend where they could do nothing and allow the americans to shoulder the burden. trump will take some credit for that. vladimir putin deserves more credit for the invasion to ukraine, that created urgency. trump got it started and i will take you european leaders are not concerned that a trump presidency means the us will leave nato. they are not worried about that. what they are worried about his trump will act unilaterally to push for a resolution of ukraine without conferring with
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and coordinating with american allies. is not isolationism. neil: that could extends to these tariffs the former president is considering against virtually all of china. what is the reaction to that and where it goes? >> and china specifically the fact you have people like robert lightheiser who is an adult respected internationally talking 60% tariffs on all chinese exports, no question if a that were implemented, that really were to come to pass, they would have a significant effect on american growth and the ceos of the world are worried about it. i had a conversation with a major canadian ceo, this person's most important question was i'm investing on
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my company is investing in western canada infrastructure on the basis of expecting trade and goods coming from asia and if we see the 60% tariff i need to change my direction completely. do you think that will happen? it's important for leaders around the world but it is also possible if trump says 60% tariff, the chinese say we are already in tough economic condition. we need to find a deal and go and work with trump and give him a win and compromise in a way they wouldn't with another leader because they are in powerless condition. the fact when it comes to china relations specifically, it could go either way and the question is do you feel up to it. neil: thank you very much. we are following this senator menendez verdict that has been reached. they are gathering at a
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...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. it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time. energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels.
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adam: neil: nikki haley, vivek ramaswamy, ron santos ran against donald trump. and donald trump is letting them speak to republican conventioneers tonight. it starts at 7:00 pm, is that right? can we postpone dinner? that's coming up tonight only on fbn. taylor: we will be watching. i am taylor riggs. brian: i am brian brenberg

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