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tv   Varney Company  FOX Business  July 19, 2024 9:00am-10:00am EDT

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[no audio] stuart: good morning being, everyone, and welcome to "varney & company" on this grade, july the 19th. it's a tech outage that's affecting airlines, banks and some media companies around the world. the outage has been linked to crowdstrike, a cybersecurity company, whose software is used around the globe. some computers running microsoft windows crashed. now, the ceo of crowdstrike says, and i'm quoting now, the issue has been identified, isolated and a fix has been deployed, end quote. for stock prices, these two companies clearly being hammered this morning.
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you'll be seeing a lot of scenes like this, long lines at airports. this is a developing story. we'll update it throughout the show. donald trump is now the official republican nominee for president p. he delivered a 90-n't minute acceptance speech. melania was there, but barron was not. trump paid tribute to the firefighter killed during the assassination attempt, and he said he felt very safe because i had god on my side. i felt that, the he said. the speech did not go down well with everyone. "the new york times" says donald trump promised to bridge political divides and then returned to delighting this deepening them. you'll hear more of what he said. trump, what he said, throughout today's show. to the markets, the tech outage looms. large although the exchanges say trading will begin as normal. the dow up -- sorry, down about 60 points. modest gain for the s&p. nasdaq down about 40. interest rates moving up, the
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10-year yields 4.21%, up just a fraction -- the 2-year, i should say, that's at 4.49, just below 4.5. bitcoin, $64,000 a coin. gold holding above $2,400 an ounce, but only hold it just. it's down $50 today. politics. there is now wide speculation that president biden will step aside very soon, possibly this weekend. nancy pelosi told him he couldn't win. the polls are against him. cbs polling shows he's now 55 points behind trump -- 5 points behind trump nationally, and the money has dried up. we don't know how biden is reacting to this because he's in isolation recovering from covid. on the show today, what's next if the president does exit the race? i'll tell you, intense political in-fighting among democrats. that seems to be almost inevitable. and, oh, what a dreadful, horrible week it's been for the president, and what a triumphant week for his challenger, dom j.
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trump. aren't you glad it's friday? "varney & company" is about to given. ♪ ♪ ♪ from the lakes of minnesota, to the hills of tennessee -- [cheers and applause] ♪ if across the plains of texas, from sea to shining sea -- ♪ if from -- from detroit to houston season and new york to l.a. ♪ stuart: remarkable production value right there, the crowd cheering as donald trump took the stage last night. it was a newing, somber, toned-down trump. he became emotional when describing the the assassination attempt. watch this. >> i will tell you exactly what happened, ask you'll never hear
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it from me a second time because it's actually too painful to tell. there was blood pouring everywhere, and yet in a certain way i felt very safe because i had god on my side is. [cheers and applause] i'm not supposed to be here tonight, not supposed to be here. >> yes, you are! >> for the rest of my life, i will be grateful for the love shown by that giant audience of patriots that stood bravely on that fate ifful evening this pennsylvania. stuart: trump formally accepted the republican presidential nomination. rachel campos duffy joins us from miss kate's diner in milwaukee. rachel, how are people there reacting to trump's speech? >> well, it's been an exciting morning. this is a historic diner, stuart. every single presidential candidate in the last few elections has come through here
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including donald trump. look who the cat dragged in because, you know, as i'm coming back to wisconsin, i got sean duffy here. sean, what's your favorite moments from the convention this week? >> i liked hulk hogan, it shows who donald trump truly is. he's been doing this for 30 years, and if i love stuart too, by the way. >> yeah, that's right. hill hogan saying donald trump is a gladiator. your thoughts. >> a fighter. he's not going to give up. >> what's your favorite moment of the convention? >> my favorite moment, i have to say, is when donald trump walked out that a first night and just the look on his face. he looked like a different man. >> all right. you told me earlier you live with an independent voter. [laughter] you did this week, it's your daughter. what's she thinking after seeing the convention this week? >> i think prior to this she was pretty indifferent about what was happening in politics, and hanging around this week she's more informed. we'll keep chiseling away -- [laughter]
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>> that's what parents, conservative parents do. [laughter] all right. over to you, what's your name? >> anne. >> what's your overall takeaway from the convention? >> very impressed. i've always been a trump fan, and the way he told his story and presented himself as a human being -- smart, fighter -- it meant a lot. >> top issue? >> oh, the border and the economy. both of them. >> the border and the economy. all right. well, we're going to cut it over to you, stuart. it's been an exciting morning here. voters all over the place but also some independent voters that we ran into saying they were very touched by what they saw ask that high production value you talked the about a, stuart, might have made a difference. stuart: i think id admit -- it did. rachel, thank you very much. now take a look at this, reports are flooding in that biden could drop out as soon as this weekend. but his campaign denies any plan for him to step aside. roll tape.
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>> "the new york times" reporting is absolutely wrong. and it's been with consistently wrong. the president has said that he is running, can and it's the end of story. and so he was just out here in nevada talking to the naacp. and he is running his campaign along with the vice president. the the president's not going anywhere. the president can win, and so we should just go campaign on the issues because we're right on the issues. stuart: all right. ben domenech with me this morning. ben, there's no going back now. i mean, biden can't just suddenly turn around and say i'm going to get out there and prove i can do it for another four years. i'm staying in it. he can't do it. he can't do it. >> no, he can't. and, look, stuart, this is a very sad circumstance. i think that democrats, honestly, have no one to blame but themselves for the situation that they find themselves n. they, obviously, should have been dealing with this months
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ago. it should never have gotten to to this point. the fact that they lied to the american people for so long via their allies in the press is the reason why they find themselves in this predicament. and the simple fact is you and i both can see with our own eyes what's going on in front of us when it comes to the current president of the united states. you were ahead of the curve on this, stuart. you were back six monthsing ago saying that he was not going to end up being the nominee, and i think that you can pat yourself on the back, because you were ahead of the curve and ahead of a lot of the other prognosticators in doing that. but, look, this simply is an untenable situation. stuart: it is. >> joe biden cannot be the nominee of the democratic party. the fact that he is even in this job currently as president of the united states is something that is of great concern to the american people, and they are going to have to shift and shift rapidly to kamala harris. stuart: well, look, senator jon tester is joining the list of democrats calling on biden to
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drop out. fox sources say tester warned schumer ahead of time and schumer said, do what you think is best. now what? if does harris move on to the top spot on the ticket many. >> this is the fact of the matter, they no longer have any kind of time to shift to anyone else. and while kamala harris is not the ideal nominee for the democratic party, she really is the only person that they can shift to without e enormous legal challenges and interparty skirmishes and the like. she's going to have to shift into the nominee role, and i think you already can see the ground being laid ahead of her. look, behind the scenes chuck schumer and nancy pelosi, they are the most powerful democrat as in washington, and they have the ability to make this shift happen, but they've just been doing it via their various sort of stand-ins, allowing people like adam schiff, for instance, to come forward and express his own concerns as opposed to expressing them in public themselves. now behind the scenes they're making their own views known to the president and to his family,
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and i believe that there is going to be a shift that happens within the next coming days, potentially as soon as this weekend. stuart: got it. ben domenech, thank you very much, indeed, sir. >> good to be with you. stuart: we've got to get back to the big tech outage as that have issued some worldwide ground stops. some hospitals and banks around the world also reporting disruptions. what's the latest, lauren? lauren: this is the moment everybody fears, and i do want to say this is not a cyber attack. but the software company crowdstrike, they sent out a routine may not significant update, a software update that went horribly wrong in multiple areas around the world almost simultaneously. a rollback is underway, but all of this takes time. pull up the map. you can see after looking at the stock price being down 12% in the premarket, seven airports closed including boston and laguardia. several airlines couldn't check in customers because systems were down. the faa a says do not go to the
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airport today unless your flight has been confirmed. overseas the london stock exchange was hit. its data platform went down. trading okay. the nasdaq is operating okay right now, and crowdstrike shares should open with no impact. sky news couldn't get on the air for a while. hospitals like mass general in brigham canceled some non-urgent surgeries. cleveland clinic says their technology has been impacted but patient care has not. uniupon the if finish union pacific, some processing delays with their shipping because of this. regular users going on windows and see what they call the blue screen of death, things aren't working. and when it comes to life and death, emergency calls were not going through in dozens of call centers across the united states. stuart: extraordinary stuff. lauren: it really is, and it's scary when you see it all a kind of play out at once and don't
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have immediate answers. stuart: stay tuned, folks, because we'll have updates on the status of these ground stop thes at airports and anything else that's going wrong or bet -- getting right. back to the markets. kenny polcari joins us this friday morning. i want to ask you about this tech outage. do you think it has any impact on the overall market or just on a couple individual stocks? >> i think it's going to have the an impact on some individual stocks, but it speaks to the fact that, you know, it's all a dependent if on this one company, crowdstrike, right, that everyone -- all these things that you just point out whether it's airlines, hospitals, whatever are all dependent on crowdstrike. so it's going to cause a conversation about a how you diversify away from that risk. what companies can get in there and do that, but i don't think it's going to the affect the overall market. i do think crowdstrike and microsoft and maybe some of the other names may be impacted, but i think it'll be short term. stuart: i've got to move on real fast today, kenny, we've just got a jam-packed news day.
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see you next week, and you have a good weekend. coming up, nbc's chuck todd says it is impossible for biden to stay in the race. roll it. >> it's impossible for biden to stay in -- >> yeah. >> -- even if he wants to stay in because there's too many democrats on the record saying he needs to get out. stuart: okay. could biden be out by this weekend? that fast, he asks. well, we'll find out this weekend. van jones says he hasn't seen a convention as enthusiastic as the republicans put on since obama's in 2008. watch this. >> i want to -- [laughter] this spirit that this guy has, the last time the i was at a convention that felt like this was obama in 2008. there's something happening. stuart: as biden fades, it seems trump is tri7:ing. rnc chair michael whatley is next. ♪ oh, what a night. ♪ you know i didn't even know
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stuart: futures indicate a mixed market today. the dow down about 100 1000 but very -- 100. let's get back to donald trump's speech last night. he focused more on point grady trimble is in milwaukee still. give us the key moment moments from last night, please. >> reporter: and there were a lot of key moments, stu. this was the longest rnc acceptance speech ever, lasting a little more than 99 -- 900 minutes.
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former president trump honored and and held a moment of silence for corey comperatore, the fire chief killed saturday whose fire fighting jacket was on stage with him during the speech. and for the first time, we heard the former president recount his experience if the day of the shooting in his own words. >> there was blood pouring everywhere, and yet in a certain way i felt very safe because i had god on my side is. [cheers and applause] i felt that. [applause] i'm not supposed to be here tonight. not supposed to be here. >> yes, you are! yes, you are! yes, you are! yes, you are! >> reporter: trump attacked the biden administration's policies on inflation, energy, the border, crime and foreign policy, but trump only mentioned president biden by name during one unscripted part of the speech.
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instead of personal attacks, the former president used the opportunity to call for unity after the attempt on his life last week. >> in an age when our politics too often a divide us, now is the time to remember we are all fellow citizens, and we must not criminalize dissent or demonize political disagreement which is what's been happening in our country lately at a level that nobody has ever seen before. >> reporter: and trump and j.d. vance are off to a rally tomorrow in grand rapids, michigan. that is the first since vance joined the gop ticket. it is also the first, stu, since the attempted assassination. stu? stuart: grady trim,,, thanks very much. thank you. now, listen to what cnn's van jones had to say about the enthusiasm at the rnc. roll it. [laughter] >> this spirit that this guy heart attacks you guys think he's drunk? he's not. this whole thing is like this.
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[laughter] hey, look. hey, guys, the last time i was at a convention that felt like this was obama 2008. there's something happening -- >> you just wrote a headline, by the way. stuart: rnc chair michael whatley joins me now. as biden fades, trump triumphs. you continue have written a better script than that, could you? >> we are very excited. what a great convention, what a great night and really, truly hitting on the themes about all americans and making sure that that this is not just a republican speech, it's not just a conversation with republicans, but we're really reaching out and talking to every american family and very excited about the them that president trump delivered last night. stuart: there's some criticism of the second half of his speech in that it turned rather dark as if he was looking for retribution when he becomes the president again. any comment?
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>> well, the president has been very clear that his retribution is going to be success. he is going to fight every single day for every american family, and that really was the whole theme of this entire convention. obviously, we want to make sure we're going forward and we're going to be able to restore the southern border, we're going to to restore the economy, we're going to restore our standing in the world. but you've got to remember why. you know, or when the president was shot, i think everybody many politics, everybody across the country needs to take a step back is and understand why we're doing this and who we're fighting for. and the president took that to heart, and i think he delivered a great message last night. stuart: top democrats are reportedly preparing for a campaign without biden. is that how you're operating too, as if it won't be biden at the top of the ticket? >> right now we are working on making sure that we hit our marks. we are making sure that we are going to go out and knock on those doors and make those phone calls. we are going to get out the vote, we're going to protect the
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ballot. we're going to make sure that we are coming out of this convention focused on hitting our marks on our side of the fence. when you think about the democratic side, right now it's not just a messenger problem, it's a message problem. they have policies that have opened up the southern border, invited 10 million illegal immigrants to come across. they have had inflationary policies. they've weakened our standing in the world. joe biden has doubled down on every one of those policies, and every other potential candidate whether it's kamala harris, gretchen whitmer, gavin newsom or anybody else has adopted those same policies and wants to take america in the same exact direction. stuart: michael whatley, thank you very much. you must be tired out, but thanks for taking time this morning. we appreciate it. see you soon. >> absolutely. thanks, stuart. stuart: check those markets. we're going do to end up in, what, about 5 minutes. dow's down 1600, slight gains -- 160. slight gains for the s&p and
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nasdaq. we'll be right back. many. ♪ ♪ i wanna dance on the roof, you and me alone ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management.
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stuart: okay, mixed picture. we're all in the red now. dow's off nearly 200 topoints. microsoft is a dow strock stock, and it's down this morning. that could account for some of that loss on the dow industrials. mark mahaney, why do you like shopify? why do you think it's a better pick than amazon. >> whoa, okay. let's see. amazon, i like it as a long-term stock, it's just not dislocated. look, we've had some phenomenal outperformance. amazon, google, meta, net flick, spotify, names like that that are up 30-60% year to date. if you want to make good money from here, you can do that with those stocks. they're compounders. but i'm looking for stocks that have traded off year to date and that have had issues that, i think, are in recovery mode. shopify's one of those names. we've had a lot of corrections in that stock and in the estimates and the stock price itself the last two earnings. i think we've had a clearing event, and if i'm right on that, if the estimates hold, the stock could move materially higher.
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it is one of the best e-commerce platforms out there. it's not as good as am southern but the upside, i think, is actually greater. stuart: we've been talking about the self-driving cars from google, waymo. >> yes. stuart: tell me again, why do you think it's such a big deal? >> well, look, i'm in san francisco where for about the last three weeks waymo's now open to the public. and, you know, you get into one of these, and it's the an extremely impressive experience. it's seamless, it's intuitive. it's just like going into an uber or a lyft, you know? you're in there for a minute or two kind of marveling at the fact that there's nobody driving you. and then after that you just kind of put your head down, looked at a your phone and do what you normally do in a car. so i just think that, you know, the jetson's future is here. it's going to take a while to roll out. i think something like this could be extraordinarily helpful and, by the way, could also reduce the thousands, tens of thousands of fatalities we have
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every year due to drunk driving, etc. so there's a lot of wins around autonomous vehicles. stuart: last one, netflix. you raised your target price from 70000 to 710 -- 700 to 710. was the earnings report a little disappointing anything if. >> no, it was actually one of the least controversial earnings reports identify seen on netflix in years. -- i've seen in years. this is a company that now has 280 million subscribers, so it's really 600 million users worldwide, and they just put up record number of new subscribers for the june quarter, i.e., the growth is not slowing down anytime soon. you want to be long. it's a high quality asset. you want to be long it. i think there are other stocks with more upside like google and shopify, but i like being long netflix. i'm fine with it. stuart: great stream. mac mahaney, have a great weekend. see you again soon. the market is now open. i know we're going to open with a significant many loss for the dow industrials.
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i thought it would be down more than that, down 50, 600, 75, as we -- back to 66. still some winners on the big board, about a dozen louisers and that's your -- losers, and that's your lot. move on to the s&p 500. that has opened with a fractional gain. sorry, loss. 30 points down, .if 18%. that's the nasdaq, i'm sorry, down 32 points. show me big tech, please. this is going to be all over the place, i presume. meta is up, alphabet's up, apple is up. amazon is down $2. microsoft is down $7. microsoft is a dow stock, that's probably taking quite a few points out of the dow. let's get back to that global outage. it is affecting major airlines, media companies, banks and more. the latest please, lauren. lauren: let's start with the airlines because so far this morning, and it's only 9:30 in the morning, there have been 23,000 delays and over 22,200 -- 2,200 cancellations.
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if you are flying today, check that your flight is confirmed before you head to the airport. many of the airlines had to manually check customers in. and then there were flights already in the air when this happened. essentially, what happened was crowdstrike, a cybersecurity firm, did a basic software update. there was a glitch in it. it caused this i.t. outage a via microsoft's cloud servers. it affected almost everybody. those flights were able to land, but what a scary thought, right? systems go down and you're up in the air. stuart: make you think twice. how about financials? lauren: yeah. they cite some of the issues like visa was having, for instance, and td bank and jpmorgan. it doesn't mean things aren't working at those bank, it means some issues were reported by some users. so i'll leave it at that. look, cleveland clinic says their technology was impacted. their patient care has not been. a massachusetts hospital in boston, a boston hospital says
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they had to cancel all their non-urgent surgeries today. stuart: okay. so let's go back to crowdstrike at the center of this very problem, and they're down $50 a share, and that's 14%. lauren: this is a black eye for them. they have to restore confidence now that they can roll back this update that went wrong effectively and make sure it doesn't happen again in such an interconnected world. we're all vulnerable. stuart: is there some billboard- lauren: yeah. if you're driving through times square this morning, some of the billboards are black. that never happens in times square ors especially when it's early in the morning, the sun's just coming up and you see all those lights. hose billboards, down, black. stuart: everybody can see it too. all right. let's move on to netflix. now, they added 8 million new subscribers to -- this is to the ad-support tier. lauren: yeah. stuart: and now they're up 5% they were down, now they're up. lauren: it was a good report card. that's what i would say. their revenue if outlook for this current quarter was a
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little bit light. they're saying 45% of their new sign-ups are choosing that cheaper ad-supported tier. all of that is good. so is the 8 million subscribers. the bad is the advertisers aren't yet flooding into that ad a tier. they're just not. they might, but management says its ad business won't be a revenue driver until 2026. stuart: i wonder if our viewers were watching mark mahaney who said netflix is going above $700 a share. larp lauren and margins likely going above with 30% too. stuart: that helps, doesn't it? american express, i know they reported before the bell. lauren: dow stock. okay, their profits were up, and they raised their full-year profit forecast because wealthy spenders continue to go out and travel. stock is down 4.2% because they missed revenue expectations. so a beat on the top line, an increasing profitability for the current quarter forecast, but their revenue missed.
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stuart: ah, that expectations game gets you every time. eli lilly, their weight loss drug got approval in china -- lauren: it did, and so has their rival, novo nordisk. china has the highest number of overweight and obese people. we don't have details. we do not know how many doses eli lilly is going to supply to this new market or when sales will begin. and, you know, if chinese people buying their drugs are going to get what americans want, etc. but, look, they're a front-runner in this global race to get weight loss drugs to a market estimated to reach 150 billion in the early 2030s. one more thing you can read on the screen. the stock's at a 872, hsbc says it's going to $1100 a share. that is a he was think -- hefty increase. stuart: is it another one i'm going to miss? probably. anheuser-busch, are they still feeling the effects of the boycott? lauren: bud light is now the
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number three beer behind not only modelo and also michelob ultra. it's number three according to nielsen iq, and this time period includes memorial day through july 4th. hi, summer kickoff, barbecue season. that's a bad sign for the rest of the year. stuart: not good. arm holdings. they got an upgrade. lauren: stock's up 2.33%. morgan stanley took the price target to 190 a share, they're a buy. this upgrade is about arm's opportunity to capitalize on something i hadn't heard of, edge a.i. so a.i. applications on devices, the computation in edge a. a.i. is literally on the edge nearest the user rather than in a data that center or in the cloud. and morgan stanley thinks that arm's chips design will help in mobile, in auto, in pcs, in the edge a.i. part of it. if you look at the stock, a relatively new stock to the
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public markets, but it's more than doubled this year. stuart: it's interesting, isn't it, that you've got this worldwide tech outage that affects a billion people maybe, and yet the stock price of just two companies has been directly and negatively affected, crowdstrike and microsoft. most of the rest of the market not feeling that big of an impact from the tech outage. lauren: i'd say, number one, it's not a cyber attack and, number two, the fix is already in. they can fix it quickly, it takes time to absorb, if you will. stuart: i wonder about liability for crowdstrike. do they pay up for what they've done? we'll see. check the big board, please. we're now down 218 points, below 411,000. 40,437. dow winners, there are quite a few. we've got merck, walmart, procter & gamble, apple and 3m. they're up today on the dow 30. the s&p 500, the winners there, intuitive surge calcar huntington bank shares, netflix, eli lilly, palo alto networks.
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nasdaq composite winners, netflix, doordash, palo alto, meta platforms. coming up, one best on msnbc says there is a major enthusiasm gap between the parties. roll tape. >> i've never seen an enthusiasm gap like the one we're witnessing in the summer of this election year. i've heard horror stories from people on the ground in michigan, in pennsylvania, in arizona about just striking out time and time again. stuart: democrats are more divided as republicans are uniting. jason chaffetz on. that. a new poll taken after the assassination attempt on trump shows him extending his lead over biden nationally. if. the secret service reportedly had little resources to cover the trump rally saturday. why were they short agents? that's next. ♪ ♪
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stuart: taking a bit of a dip down. the dow industrials off 130 points now, but modest comeback for the s&p and the nasdaq. nasdaq's up 36. two stocks in particular dragging the dow down, that's american american express travelers. together they cost the dow 1400 points. i -- 140 points. i thought that microsoft was hurting the dow. it is but not much. down only 95 cents. this just coming in to us, whistleblowers tell senator josh hawley that most of trump's security detail on saturday were not from the secret service. hillary vaughn on capitol hill. okay, if they weren't secret service agents, who were they? >> reporter: according to these whistleblowers, they were with the dhs' hsi unit, the homeland security information unit, that lawly says is not familiar -- hawley says is not familiar with the normal protocols. quote, whistleblowers tell me that most of trump's security detail working the event last
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saturday were not even secret service is. dhs assigned unprepared and inexperienced personnel n. a letter to dhs secretary alejandro mayorkas, hawley says the whistleblowers with direct knowledge of this event allege that the july13th rally was considered to be a loose security event. he goes on to say that detection k-9s were not used to monitor entry and detect threats like they normally would, individuals without proper designations were able to gain access to backstage, and also department personnel did not appropriately police the security buffer around the podium. this is as a we're hearing from congressman mike waltz who says the fbi briefed them about the shooter having overseas accounts and that officials are trying to gain access to hearn more about it. >> what we know, and this was the on the briefing we just received, he had three encrypted overseas accounts the fbi is trying to get into.
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>> what do you mean by overseas accounts? >> we know that they were based in servers overseas, and so you've got to work over there with the fbi liaisons overseas to start getting into them through their authorities. >> reporter: but the slow release of information from the credit service to lawmakers is slowly building up outrage here on the hill. the house oversight committee calling the engagement so far with dhs, quote, unprofessional and had to resort to subpoenaing the secret service director, kim cheatle. the dhs is now dragging their feet, trying to delay the appearance set before the committee on monday because of her travel plans saying, quote, director cheatle welcomes the opportunity to testify before the committee. given her travel and operational commitments, we would appreciate the opportunity for director cheatle to appear before the committee on july 25th or 26th or during the week of july 29th. and, of course, that's not making lawmakers very happy. they still say they expect her to show up on monday. stuart? stuart: hillary, thanks very much is, indeed.
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that's quite a bombshell there. come on in, please, frank loveridge is the former head of the presidential protective detail for the secret service. frank, welcome to the program. good to have you with us. it's harder to believe that trump didn't have regular secret service protection. i mean, where -- can you believe this? >> so just so you know -- and thank you, stu, for having me on the program. i just waned to go over that real -- wanted to go over that real quick because we use local law enforcement in all of our advances. we have a police meeting and marry up assets with local law enforcement assets. on top of that, we have leaned on hsi, homeland security investigations, to help us with postdating opportunities when we are stretched. we just were in the process of a national, just finished up a national security event with the rnc which is a manpower drain. we had several protectwith ees in pennsylvania. -- protectees in pennsylvania. the responsibility of protection of the former president of the
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united states and the president of the united states is on the secret service, and you can't delegate that accountability. so with that being said, some critical problems occurred. when you start using other assets to do these type it is of missions, that is training, are you training together, are you aware of each other's tackic -- tactics? do you know the rule of engagement? and communications seemed to be a problem area during this entire event. if you know -- stuart: well, frank, just -- frank, look, it just comes as a surprise to us to learn that maybe they were not all specifically-trained special secret service agents. and secondly, there may not have been enough of them. was trump shortchanged on security? >> so, stuart, what you have to do is you have to pull the site post assignment logs, looked at all of the assignments, where they were, what their instructions were. and from that point on, you also have to look at the special operations division tactical survey and find out where the special assets were set, where
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they were, where they were placed. after you do that, you can then make that assessment of whether we had adequate protection at that event. stuart: well, have we not had time to do that? if i mean, it was a week ago. >> oh, absolutely. i am 100% confident having worked in the inspection division and working these types of events, yeah, this has already been done. and now the assessment is being made, and then the determinations need to be made. and i think that needs to be one of the conversations we have with the director. stuart: you don't sound very critical of the secret service. >> well, it was my life for 23 years. i just want to make sure that we do a thorough investigation and we find out exactly what went wrong. i know that communication was an issue. a building 130 yards away. was it properly secured? was -- stuart: i know we've got to find out all of this, but, you know, it's almost a week since it happened. i would have thought we would have found out the stuff that
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you need by now. in fact, they're trying to tread it out some more. frank, i'm sorry we're out of time. it's appreciated. >> thank you for having me on. stuart: sure thing. coming up, if president biden steps aside, what happens? sources say he won't endorse harris. a's just some sources. imagine the chaos as top of the ticket wanna bees try to line themselves up if he doesn't endorse harris. that's my take, top of the hour. trump and vance hit the road for the first time this weekend. they're starting in michigan focusing on the rust belt states. the full story after this. ♪ can you take me higher? if ♪ ♪ to a place where blind men see. ♪ can you take me higher ♪
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stuart: donald trump and j.d. vance will head to michigan tomorrow for their fist rally as a ticket, first time together on the campaign trail. madison alworth with us. what's their message to rust belt voters? >> reporter: they've got a couple things going on, stu. they're promising to bring back manufacturing jobs, they're going to prioritize the american family and their safety and, of course, to quote drill, baby, drill. that energy message is key to
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oil-rich states like pennsylvania and important states for the former president. it is part of that blue wall that went to trump in 2016 but back to biden in 2020. third time around trump is hoping to flip wisconsin, michigan and pennsylvania back to red. that energy message could help do so. >> we have more liquid gold under our feet than any other country by far. we are a nation -- [cheers and applause] that has the opportunity to make an absolute fortune with its energy. we have it and china doesn't. under the trump administration just three and a half years ago, we were energy independent. but soon we will actually be better than that. >> reporter: it's starting to work in pennsylvania which is president biden's state that he was born in. trump is currently leading by 3 points. and in wisconsin where the rnc was hosted, the former president is up 6%. stuart: wow. >> reporter: in true trump
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fashion, he was candid about his hope for the voters there. >> and, by the way, wisconsin, we are spending over $250 million here creating jobs and other economic development all over the place, so i hope you will remember this in november and give us your vote. i am trying to buy your vote. [cheers and applause] i'll be honest about that. >> reporter: yeah. we got a little comity from him last night. -- comedy. we heard from j.d. vance the day before. having him on the ticket, that's a big move for the rust belt. he's a proud ohio native, and it's going to be big having them both officially campaign. and as you noted on the program, not only the first time they're campaigning together, but the first time he's campaigning since the assassination attempt. stuart: i didn't realize he was 6 points up in wisconsin. >> reporter: big. stuart beyond the margin of error. madison, thanks very much. the dow is taking it on the chin, it's down 20 the 00 -- 200
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points. still ahead, jason chaffetz. will biden exit the race this weekend? steve hilton on the awful week for biden and the fabulous week for trump. missouri congressman mark alford on why the secret service may have been shorthanded at the trump rally. and jonathan morris on the presence of faith at the rnc. the 10:00 hour is next. ♪ ♪
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so the next time there's a power outage, your home powers up. power your life with generac. call or go online to request your free quote today. stuart: this is if i can dream by elvis presley. last night trump walked on stage in front of a lit up trump sign reminiscent of elvis presley's come back special where the singer p

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