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 performed on

front of a giant office sign marking his return to performing after a 7 year hiatus. let's go to the money. the dow down 160, tiny gain for the s&p and the nasdaq. the 10 year treasury yield, 420 one. the price of oil in the $80 range, and bitcoin strong at $65 a coin. now this. if the president steps aside, what happens? let's be clear, he will be out of the race but would still be the president. the ticket would change. democrats have to figure out who will take the top spot and it won't be easy. anonymous sources suggest biden does not want to endorse his own vice president. imagine the chaos, and on homely scramble as top of the ticket want to bes try to line

themselves up. imagine the fury of kamala harris supporters. no one goes to the top of the ticket until delegates vote, they talk about holding online polling in early august so they have two weeks to coalesce around a single candidate. if they can't coalesce they are headed to an open convention. and that convention in 68 in chicago and that is where is too. if president biden doesn't step aside soon, there could be intense election politics. hard to imagine them beating trump. if biden doesn't step aside or plows on regardless, hard to imagine him convincing voters he could be president for another four years. looks grim for the democrats but they brought it on

themselves by letting the aging joe biden run for another term. if president biden can't run his reelection campaign, how can he run the country? just as important, who is really running the country. second hour of varney just getting started. that are listen to this. nbc's chuck todd says biden's reelection campaign is over. >> impossible for biden to stay in. even if you wants to stay in, saying he needs to get out. how do they put the toothpaste back in the tube? leaders of the democratic party making the case he can't serve another four years. he's been forced. i don't think we are getting to the point i don't think he can win the nomination. he is losing control of that

process. stuart: pretty strong stuff. jason chaffetz, biden's family has started discussing the exit plan from the race. >> year ago. democrats have a bigger problem. we can't say we are going to wait another month, days from now the democrats convention is, there are deadlines in states to get on the ballot, even if they wanted to switch somebody out. they are so late in the game. not up to the feds but individual state laws and state laws prohibit you making these changes. how he does it if he does step out, what he says what he says the reason for it will be, a huge factor of a lawsuit sure to follow in the individual states. neil: any doubt he will step aside? >> i've said for your he

doesn't have the cognitive capability. there are enough democrats on the record. it is obvious president obama who does run the party at this point cut the dogs loose to go after him. you don't have george clooney issuing that letter and signaling without barack obama. stuart: easiest thing would be to have kamala harris -- >> nobody has confidence. the only person less popular is kamala harris. lauren: not only does he step aside from the campaign, does he step aside from the office of the presidency and let her take over as a trial run? stuart: that would be a very different thing. >> jill biden likes being president. she's not giving that up over the last six months. stuart: you are with me for the our. and opinion writer in the

washington post has advice for jill biden. lauren: sally quinn wrote this about ben bradley, her husband, the renowned journalist known for reporting watergate. it was his demeanor, fragility, vulnerability that led me to believe something was wrong. haven't paid much attention to the changes he was exhibiting. became impossible to ignore. i don't pretend to know what ails joe biden but i know what it is like to walk the hard road of age with someone you love. then died with his dignity intact. stuart: with of that. lauren: that's her advice in the washington post. stuart: it it incumbent -- encumbered on the first lady? >> shame on the puppeteers that are around jill biden. they've known for some time. this didn't pop up two weeks ago. has been brewing for years.

we keep showing it and they keep denying it. jill biden, hunter biden, those closest to the president. the chief of staff and others, who see on an hourly if not hourly basis, shame on them. stuart: you and i have been saying he should step aside. >> he promised a transition. he never did. stuart: stay there. during the rnc the justice department filed a brief blocking efforts to release the biden hur audiotapes. lauren: this brief was file as trump addressed the convention last night. the brief says the audio was properly withheld because it's disclosure would risk unjustifiable interference both in pending investigations, and reasonably anticipated future ones.

it said biden is allowed to assert his executive privilege. >> they released his transcript but not the audio. there's nothing classified in this. it's not part of the deliberative process. those are key elements in claiming executive privilege. trying to run out the clock. we will eventually get the tapes. after the election. the american people deserve this. we can't release that but not the audio. they said they didn't but i think they did. stuart: a can of worms has just been opened. another one for you. hunter biden looking to get his gun and tax trials dismissed. lauren: unusual allies which hunter after teresa special counsel david wise was illegally appointed by merrick garland, the exact argument the

trump judge used to dismiss trump's classified documents case. that special counsel, jack smith, was not nominated by the president or confirmed by the senate making it unconstitutional. hunter's legal team taking that approach as he tries to dismiss his gun conviction and upcoming tax charges. stuart: interesting stuff. we ought to get away from politics for one shining moment, let's get to the markets, check the markets. not good for the dow, gains for the s&p and nasdaq. this time last week you were on this program and you said we are going to have a melt up for stocks and you were right. >> the word prescient comes to mind. with interesting, we talked about seeing a big rotation

after the inflation number thursday which came in lower than expected. interest rate sensitive stocks have done really well if you look at real estate stocks, small-cap stocks and interest rates. that is a big move. meanwhile, it was down 7%. you start to see this rally broadening out, moving away from a huge artificial intelligence tech trade which has been on fire. stuart: how long will that go on? how long will the air be sucked out? >> my crystal ball, i don't think we are at the top. we talked about this, $6.15 trillion in money market funds. people are free to invest and 5%, $10 billion, rate is going

away. feds cut in september. human beings are going to invest, the greed factor will push those stocks further up. when you have a melt up like this, you own microsoft stock. the big risk with those stocks, they do nothing get for a longer time. did nothing for 15 years. stuart: to pay capital gains tax. the tech outage around the world, a couple stocks, crowd strike and microsoft. a short-term event that goes away. >> don't have to worry about it too much. i don't think that is a big worry. it will be some sort of danger or something like that.

lauren: stuart: show me the other cybersecurity stocks. lauren: they are up 6%, palo alto is higher. these are rivals to crowd strike and didn't have issues so all of them are up. stuart: cvs is moving independently. lauren: responding to the global cyber outage. there pharmacies are operating as normal. everybody, if you use microsoft you are involved. stuart: a sidebar of hawaiian electric, down, the fires in hawaii, $5 billion of damage. why are they up? lauren: they are agreeing to pay $4 billion to settle hundreds of lawsuits.

stuart: you know what the number is. 4 billion to move on. coming up, a russian court sentenced american journalists evan gershkovich, nate foy has all the details coming up. trump said the world was safer and no wars started during his presidency. is the administration caving to dictators? that is next. (man 1) can you hear me now? can you hear me now? can you hear me now?

(dj) can you hear me now? (runner) stay with me now! (teens) oooo! (woman 1) mírame ahora! (woman 2) get em now! (roger goodell) we're ready now! (woman 3) have fun! (fan) ooo, pinch me now! (woman 4) save me now! (toddler) let's go now! (woman 5) check me now! (toddler) catch me now! (gamer 1) cmon! (gamer 2) play me now! (toddler) okay, bye now!

♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make

the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected.

>> american express is a dow stock now sharply contributing to the loss on the dow. checking fedex, they experienced substantial disruptions from this tech outage and activated a contingency plan. it is down half of 1%. fox business alert. houthis claiming responsibly for a drone strike in tel aviv. what is the significance of the houthis using drones to attack tel aviv? >> the obvious one, we don't have a handle on this threat. it was immensely disruptive to one of the key global transport in the world that impacted the maritime business. now we see them expanding the

strategic space and directly threaten america. so far the administration and friends and allies working on us having come close to that. stuart: donald trump said the world was safer under his administration. role tape. >> i will keep our sons and daughters safe as we bring security to our streets, we will bring stability to the world. i was the first president in modern times to start no new wars. under president bush, russia invaded georgia. under president obama, russia talk crimea. under the current administration, russia is after all of ukraine. under donald trump, russia took nothing. stuart: if trump is elected to

a second term does that imply he is going to cave to vladimir putin to fix the war ukraine? >> two comments. one, this election is not a foreign policy election, such a contrast. we have real data. we have obama biden foreign policy, however the next democratic candidate is that foreign policy, we have trump, not even republican, trump foreign policy globally was demonstrably better for everybody including the united states. trump is an isolationist. they both have said we are going to crush iran and jump back with both feet in the middle east. vance said in his speech china is the root of all evil, we have to deal with that and donald trump said in his speech

we are going to end this more in ukraine which we will stop russia and put a end to this war which is the best possible thing to happen and isolationist, donald trump said on stage we are going to make the world a better place. we have to stop this madness that we will get an american foreign policy we will be hiding in trump tower. it is not going to happen. stuart: one last one. germany preparing to cut military aid for ukraine by half. /aids ukraine in half. >> people do stuff like that. europe recognizes a defeat for ukraine immeasurably deals with peace in europe. in the aggregate i am sure europe will stand up and in part, in their own interest, he

is not going to stand there and hold their own weight and they know if they want influence they have to pool their own weight so when he walks in the door they look at him as a partner beating him over the head. stuart: the aid to ukraine sounds contradictory. we are out of time. see you again soon. wall street journal reporter evan gershkovich convicted of espionage, 16 years in russian prison. nate foy joins me now. >> good morning. he's already spent 16 months in russian lockup and is staring down 16 years after being sentenced on espionage charges

but the process was expedited and what this could do is open the door for negotiations to reach the next phase and possible prisoner exchange. look at this video today. you see him inside the court room. russian authorities denied media a lot of access but he did make a final statement, pleaded not guilty, us government says he's innocent, state department is working tirelessly on bringing them home. russian prosecutors claim evan gershkovich work for the cia gathering information on a russian tank factory making thanks for russia's war in ukraine. a source close to evan gershkovich's family told me they would wait for the end of this sham trial, you saw evan gershkovich with his head shaved. his father has also shaved his own head in solidarity. look at this video showing evan gershkovich waving as he left the court room.

the wall street journal says he was doing his job as a journalist and journalism is not a crime. bring him home now. the trial did happen quickly. his second hearing was moved up from august 1, '32 yesterday. the state department declined to provide an assessment why russia expedited the trial. but the eventual process to take the next step in those negotiations and possibly bring evan home which is something lawmakers are calling on president biden to do with rick scott posting on x calling on biden to act immediately. stuart: thanks very much. donald trump pledged to end the migrant crisis and restore border security on day one. migrant crossings are down. did biden have something to do with that, global outage affecting hospital banks and businesses affecting tens of millions.

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. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain.

visit morethannormalaging.com

stuart: the dow is down sharply up 300 points. the nasdaq is down 42. lauren looking at the movers, lauren: insurance bellwether. they did report record net earned premiums in the quarter, higher investment strong, underwriting offsetting the $1.5 billion hit from catastrophic losses, severe storms costing $1.5 billion. stuart: intuitive surgical. lauren: we are looking at if it is up 8%, a record closed today. they smash earnings, 25% on strong sales. stuart: door - is up today. lauren: a tough month up 4%. %. investors should take advantage of the decline.

they think it will soon be included in the s&p 500. stuart: the global tech outage taking its toll on airports, airlines across the country, canceling a lot of flights. at the o'hare airport in chicago, the latest please. >> reporter: a massive line for people who want to rebook. it is friday morning, very busy and very chaotic. this goes beyond the airports. it will be affect people's health and safety, 911 call centers in virginia, new hampshire, these are all places where state troopers and medics are saying this is a problem where they have to switch numbers for people to calling case of an emergency and hospitals may be in a dire situation, doctors facing problems with the booking system, couple that with this stat, half of the fortune 500

companies have used software associated with the outages from crowd strike. this might bye line must is calling this the biggest it failure ever. . delta, american and united all affected. the federal aviation administration says all flights are affected regardless of destination. crowd strike is a cybersecurity company. they said it's not a security issue or a cyber attack, this is due to a faulty software update. this came from the ceo of the company who explained the issue this morning, that this is only an issue for customers that use windows systems. they were hit with the blue screen of death with a sad face on it when their computers crashed. flight aware says 1600 flights are delayed and 400 are canceled. take a listen.

>> our flight is canceled. we have already gotten here and figured out, be here tomorrow. >> reporter: the outage causing billboards in times square to go black this morning as well. we are learning microsoft resolved their issue on their end but continuing to affect services people use every day for work. there email and office apps, this is getting resolved as i mentioned about we expect to see the industries deal with repercussions for the weekend if not days later. stuart: thanks very much. trump promised to get the border crisis under control on day one if elected. >> at the heart of the republican platform is our pledge to end this border network, and restore the sovereign borders of the united

states and everybody as a republican, most democrats want people to come into our country but they have to come into our country legally. stuart: the sheriff of cochise county, arizona joins me now. border crossings are down quite significantly. is that showing up in your area? is it because of biden? >> good morning to you. what we see in cochise county is the got aways. we don't see the give ups you see on media. these are got aways, trafficked by the cartels. the vulnerabilities we are seeing continue every day. at 8:00 last night, chasing

somebody through the desert or each one in a situation -- we've not seen a change here. stuart: to you is the solution a wall and return to mexico? would that do the trick? >> it takes a president like donald trump who has a track record, to secure it. she said it with confidence and courage, he has prioritized this border to cartels that come across, it's called rule of law which is what the country is built on and not just with words but action. stuart: what is the political temperature in arizona. with the border right there, is

trump going to win? >> yes he is going to win. the fact that we have been impacted for 31/2 years whether it is trafficking, tragedy, death, whatever it is we've seen for three years arizona is tired of it. arizona will support trump. i will be shocked if they don't support trump due to the fact it is a simple thing. if you want open borders by your time. stuart: thanks for joining us, see you again soon. jason chaffetz, you are an astute observer of the scene, does trump win arizona? >> i think donald trump can and will. and not affect rent for other

public services, when arizonans realize wise rent so high? you've got a couple hundred thousand in the market buying low income or renting low income housing and those resources people needed, when your class has four new students who don't speak english and the teacher has to deal with that, that is part of biden's consequences. stuart: they offer competition for nativeborn people when it comes to working. they are. >> affect low income housing people, all of us. come legally and lawfully. people trying to legally and lawfully. stuart: there are lower border crossings. >> when you report millions in, now we peeled it back, still not nearly what it was. stuart: biden will be able to say i am doing something.

>> we got to 9-0. stuart: won't give you a hard time. jim jordan says secret service whistleblowers told his committee they were understaffed at the trump rally in pennsylvania covering the nato summit in dc. the latest developed on the secret service failure coming up. a plan to create a strategic bitcoin reserve. this would be a major shift in the government's approach to crypto. kelly o'grady has the story in a moment.

raising twins and as a single mother, presented, quite a few challenges. the financial aspects of oh my gosh, how am i going to provide for my family? i'm going to have to get two jobs. thomas kennedy, he was a major in the u.s. army. tom loved hockey. he went to west point, to play hockey. and ended up falling in love with the army. he was a father. he was, a great husband, he would give you a shirt off of his back for you. in 2012, tom was deployed to afghanistan. he was on his way to a provincial governor's meeting,

tom was killed by a suicide bomber. when the bomb went off, tom was in a group of four that were, killed in the incident. the morning i found out. our world has just been upended. you know, with not having tom around to be here in our everyday life, my sister moved in with us, and she helped me with the day to day life of raising, two year old twins. in 2018 i was diagnosed with breast cancer. kind of threw a wrench in to what we had established as our, our daily life and our new normal. my mother-in-law had told me about tunnel to towers. and when i found out that i was selected to have my mortgage paid off, you know, it seemed like i had won the lottery. today, we welcome the kennedy family into their mortgage free home. the timing was just incredible. with everything that i'm going through with my treatments for metastatic breast cancer. having our biggest bill being taken care of by tunnel to towers, i'm able to on my children and my health.

people should give to tunnel to towers, because it really helps family members of fallen service members know, first responders who they wake up one day and it's a normal day and then their world can just be turned upside down. to know that there is an organization that can step in irreplaceable. please contribute $11 a month. to help families like mine please visit t2t dot org. when the sawdust settles and the engine roars the thing you care about is a job well done. but when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. ♪

stuart: we are going to check hotel stocks. some are affected by global

tech, they are actively working from the fact outage. when guest on msnbc warned an enthusiasm gap between democrats and republicans. lauren: tim alberto said biden can't get volunteers to knock on phones or work on the doors especially in the swing states. >> the democratic base right now is just entirely lacking for intensity. i heard horror stories from people on the ground in michigan, pennsylvania and arizona about striking out time and again as local democratic party chapters try to get people to come in and phone bank, get mail going, knock on doors, they can't find people. lauren: than the money dries up. this has been an election season of complete contrast. you have enthusiasm and unity

on the republican side and confusion and division on the democratic side. stuart: jason. if biden steps aside and someone replaces him does that guarantee enthusiasm for the democrats? >> he or she won't be on all those ballots, i would think the democrats would have a surge of enthusiasm about somebody new but what is striking to me is this natural, lessons, they are not coalescing around kamala harris. they recognize what a political albatross she is around the next of the democrats. that should be a layup. they are not. they are talking they want to bypass the democratic process and come up with handpick or do some sort of quick primary but there convention starts on august 19th. it's july 19th. stuart: i've never seen a

situation like this. thanks. now this. donald trump, listen to this, donald trump is considering a plan to create a strategic bitcoin reserve. kelly o'grady joins me. what would that look like? >> the treasury would buy up a lot of bitcoin, billions of dollars worth and hold it in reserves. they don't have to buy as much as you would expect because the us government has seen so much nls assets. to peg the dollar to deflationary assets, there's going to be a finite amount of bitcoin. this accomplishes the goal. donald trump will announce the plan for bitcoin in nashville next week, he is cementing himself as a pro crypto

candidate supporting bitcoin, not the only one who floated this type of thing before. vivek ramaswamy and rfk junior propose to let things, j.d. vance is very pro crypto. this is more likely to be a key pillar of the campaign shortly. it's not a strategy to get votes. stand with crypto, we talked about door knocking, they are signing up advocates in swing states. georgia has doubled the gap in votes between biden and trump in 2020. this could move the needle and it would move on the price of bitcoin. it would lend so much credibility to an asset that is so volatile. i will leave you with this. bitcoin could reach 1,000,000,000 x 2029. stuart: my head is exploding.

lauren: he is anti-all the talk. stuart: you know something about this. >> i do think, i don't think you can ignore it at this point. stuart: the united states treasury buying loads of bitcoin. >> as she said, they already have. yes. if you want to make the dollar strong you have to play this market as well. stuart: i would like to know what wall street thinks of bitcoin reserve. thank you, all good stuff. coming up, federal appeals court deals another blow to biden's student loan handouts. edward lawrence has that next. people on both sides of the aisle called for a lowering of the political temperature, did trump's rnc speech do that? i will ask bob woodson it was on after this.

♪ ♪ do you charge forward? freeze in your tracks? (♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advances can help transform our tomorrows. better questions. better outcomes. t. rowe price choose advil liqui-gels for faster, stronger and longer-lasting relief than tylenol rapid release gels. because advil targets pain at the source of inflammation. so for faster pain relief, advil the pain away. it's pods biggest sale of the summer. save up to 25% on moving and storage for a limited time.

and see why pods has been trusted with over 6 million moves. but don't wait, use promo code big25 to save. visit pods.com today.

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: check the market,

following the latest outage of transportation secretary buttigieg monitoring the impact. fbi officials are aware but not commenting at this point, specifically the dow off 300 points. no real connection to the tech outage. a new cbs poll shows trump aptly never biden growing, trump is ahead by 5 points. can you see biden making a comeback without polling numbers. >> the president at the convention made an important point by inviting madeline baines who lost her child to street violence in new york city. we must look beyond race as the culprit, the fact that a

progressive prosecutor released the killers of her son. it's important trump speaks goes beyond, not the ruling that determines winners and losers, is the rules of the game. to the extent that trump can continue policies that empower low income people and give them a voice then people prevail. that's why blacks are turning out in record numbers, they are the sleeping giants in this race. stuart: kamala harris is less popular than mr. biden. can they also have kamala harris step aside as well? what will they do? >> the democrats are in a dilemma.

they've placed emphasis on race and gender and are trapped by it. the first consideration is race and gender of the person and not their confidence to serve. that is going to poorly serve the democrats. both political parties need to address the needs of the least of these and come up with policies. the policies of the 60s has been for moral equivalent of an army giving disease. and policies of the 60s. and they created the chaos in the cities, it's important to focus on real remedies. this gives comfort to people

like that. stuart: your calling for political rhetoric to be toned down. you listened to trump's speech, toned down a political rhetoric. didn't work for you? >> absolutely. he was much more reason to. he was talking about almost a level of serenity that i've not seen. it does real good to engage in name-calling but important to promote policies and solution, invented the kind of people who are outraged, to see beyond the race. it's not sex or race or, patronizing for democrats to always assume the only issue important to blacks is race. i'm encouraged to policies will

unite us on issues to produce remedies for the people. stuart: thank you for being with us. cnn asked an undecided voter to grade trump's speech. lauren: this voter panel thinks trump got an a. >> gave it in a. i think i was looking for a change and i felt i heard that change in his voice. and unity together. >> change is a powerful word. and van jones set on cnn, the enthusiasm, they reminded him

of obama 2008. everyone saying it was the best convention. >> president biden ran on the promise of uniting the country and never tried to do that, certainly didn't happen. the country and the party is as united as ever under donald trump. stuart: thanks for joining us. mark alfred on whistleblower statements, and claims that god was on his side after surviving an assassination attempt. steve hilton on biden's bad week. the 11:00 hour is next.

daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪) wow... are you kidding me? you can do this. at truist, we believe the same is true for banking.

(man 1) can you hear me now? can you hear me now? can you hear me now? (dj) can you hear me now? (runner) stay with me now! (teens) oooo! (woman 1) mírame ahora! (woman 2) get em now! (roger goodell) we're ready now! (woman 3) have fun! (fan) ooo, pinch me now! (woman 4) save me now! (toddler) let's go now! (woman 5) check me now!

(toddler) catch me now! (gamer 1) cmon! (gamer 2) play me now! (toddler) okay, bye now!

everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really? look how the brushstrokes follow the line of the gas tank. -hey! -hey! brought my plus-one. jamie? >> when donald trump walked out that first night and just the look on his face, he looked like a different man. >> this is a very sad circumstance. i think democrattings honestly have no one to blame but

th