maria: welcome back. we are 30 minutes away from the opening bell for a tuesday. check markets, we looking at a negative tone to start the day after some gains yesterday in big tech and, certainly, the nasdaq. we will be covering it all. thank you, trisha is mcif loughlin and mitch prorochelle. great to be with you this morning. >> great to be with you as well or, maria. maria: see you soon. thank you so much for joining us. stay with us, more coverage of these developments in washington. stay with fox business. "varney & company" picks it up now. stu, take it away. stuart: kamala harris has enough delegates for the nomination. it's over, she's in.

the democrats want to unify around a single candidate. kamala harris has been coronated. the honeymoon has begun. the money's flooding in, $81 million in the last 4 hours, and in her -- 24 hours. and in her first public speech, harris attacked trump personally. she said she had prosecuted trump's type, predators who abuse women. the crowd loved it. the president called in to harris at campaign headquarters. his voice was weak and raspy. his doctor says he's recovering from covid. now, if he returns to the white house this afternoon a, we may get to see him after a he's been out of sight for nearly a week. to the markets. this is not a kamala harris rally. minor league selloff. the dow off 6, s&p down 1, nasdaq down 28. not much price change there. bitcoin holding around $66,500. interest rates, the 01- 10-year, 4.23. gold just above $2400 an ounce.

oil coming down, $77 a barrel. if no change for gas at an average of $3.50 for regular, diesel is up one cent, $3.83. politics. kamala harris will not preside over netanyahu's address to congress tomorrow. that is a slam. the top democrat on the presidential if ticket will not hear the speech of america's principal ally in the mideast. on the show today, tesla and google issue their financial reports. it's the start of the big tech reporting season, and some of our guests are predicting spectacular results. we'll see. karine jean-pierre appears on request with the the view" today instead of a regular press conference briefing. she wants to avoid that, because she would be asked about a her cover-up of pride evens true condition -- president biden's true condition. another link between the former president and the

saudi-supported liv, lots of money going to charity and a chance for trump to show his usual vigor. tuesday, july 23rd, 2024. "varney & company" is about to begin. ♪ ♪ ♪ where have you been all my life ♪ muck. stuart: oh, where have you been. rihanna p. i do like rihanna. >> she loves you. have you seen her latest, what is it, fenty? her makeup line? laura: lauren: how do you know about this? >> a stuart varney -- stuart: are we ready, sports fanses in presumptive democrat presidential nominee kamala harris wasting no time stepping into the spotlight. lauren: kamala harris went to

delaware yesterday, made president biden's headquarters her own while praising her boss. if. >> let us be very clear, joe is not done, far from it -- [cheers and applause] if he knows there is still more work to do, and our nation will continue to praise his bold and visionary leadership as prime minister so in the days and weeks ahead, i together with you will do everything in my power to unite our democratic party, to unite our nation and to win this election. lauren: it's the been six days since we've seen president biden although he did phone in to campaign headquarters yesterday. from his doctor, he's recovering well, completed his tenth dose of paxlovid. symptoms almost resolved completely, pulse, blood pressure absolutely normal, oxygen saturation continues to be excellent. on room air. the president continues to perform all of his presidential duties. he will return to the white house today, though "the new york post" reports he's canceled

nine trips over the next two weeks, and and he still has not told the us why he's dropped out of the race. he has not addressed the american public yet, and we have not seen him in person. stuart: that's correct. thanks, lauren. todd piro with me this morning. we heard his voice on that phone in to the headquarters, we haven't seen him in nearly a week, and there's no mention of his mental a state, hess meant ifal capacity -- his mental capacity. is this a cover-up? >> my confusion, and i think it goes to your question, is if everything is over for joe biden joe biden when it comes to the campaign, if he has nothing else to lose, why not just put him out there? if send a camera to rehoboth, he dose in front and says, hey, here's me, here's my visage a, i think now is the time to drop the out. he doesn't are to take questions with. why aren't they doing even that? stuart: because that would be a humiliation. if you put the man on camera a

and and he has that vacant stare, that is a humiliation for the president which he doesn't are to do. >> but he did that in the debate, so what's the difference, you know? he vacant stared himself for 990 plus minutes in that -- 90 plus minute ifs in that debate and led to all this. i don't think it can get worse from a pressation the -- presentation standpoint for joe biden. stuart: is he going to go out on the campaign trail with harris? >> that's a great question. stuart: he's not going to wisconsin today. harris is. >> i think he may want to because he wants to stay relevant. does harris want him? if. stuart: oh, very good question. that's a good question. i cannot answer that one with. next one for you, karine jean-pierre make z her first public appearance since biden dropped out. she's going to be on "the view" today after canceling yesterday's briefing. i think she's afraid to answer questions about why she covered up the president's true condition. >> and that's why she's going on

"the view," so she can say, look, i addressed the media on this, but i went to the to the most safe space i possibly could. even msnbc, despite all their covering up of the white house, would actually press her with a tough question or two. "the view" is just going to be smooth if sailing. they're going to talk about this cover of a magazine and how difficult this last couple weeks has been on her as a human. they're not going to ask her any tough questions. that's why she's doing. stuart: racism will come up as well. >> oh, 1000%. stuart: say there, please. now, the dnc will hold a virtual roll call before the convention. they're locking in their nominee early. lauren: by august 7th, and the convention starts the 19th. harris has the verbal backing of more than 27000 delegates -- 2700 to sure she's in. 9 and the party is trying to unite around her. look, it's been a fast groundswell of support. we should note delegates'

endorsements are not binding, they can still change their mind, but she got a lot, and she got them fast if. stuart: thanks very much, lauren. biden is still recovering from covid and will not meet with israel's prime minister today. will they meet at all this whole week? >> a little bit of confusion on this, stu. she's not going to be meeting with net -- he's not going to be the meeting with netanyahu today. the president continues to focus on recovering from covid as we've talked about a, netanyahu still expected to meet with vice president kamala harris. that said, there is expected to be a meeting between biden and netanyahu on thursday. so that's what we reported on fox and and friends earlier today, a thursday meeting. remains to be seen though based upon everything that we just discussed. if he's not up to it today, is he going to have some miraculous recovery in the next 48 hours? stuart: i don't believe they want to see him. kamala harris doesn't want to see him. will may be a private meeting, but they don't want to be associated with israel.

>> because of michigan and minnesota. stuart: precisely. and that that's an astonishing thing. let's get back to the markets. where are we now? minor losses pretty much across the board. well, the dow's up 8. no change for the s&p. nasdaq is down 23 points. david nicholas joining us. okay, david, we get tesla's earnings after the bell today. they've had a pretty good run recently. where what do you see them going? >> yeah, stuart, this has been an incredible comeback story. if you look back at a april, we were looking at price cuts, the slowing economy in china, layoffs. and and elon musk came out on april 23rd, i was on your program, the day of earnings, and he pointed invest investors to the future, all about robotaxi, energy storage a, self-driving. that shifted the stock. the stock's added almost $400 tobillion in market cap, up over 70% since then, so i think this stock still heads higher. i've got a price if target around 290. i think it's going higher. stuart: what's a with robotaxis?

are we going to hear about them again today? >> if elon is smart, and we know he is, i think he's going to talk a lot about robotaxis. remember, this is a third quarter event. the robotaxi day is coming up in the fall. remember, when they delayed that that, they announced that they were delaying until october, the stock dropped almost 9% in a day, so that tells me the stock is being propped up by this idea of a robotaxi future. so i think elon will focus on that, stuart. stuart: how much influence does musk have if trump wins? >> yeah, it's a great question. trump is warming up, i think, the evs. he's adamantly against them. but i think the biden administration used ev subsidies to hurt tesla, because what they did is they want to make every other ev affordable. trump the said he's going to to remove those subsidies on day one. you may say, well, that's going to hurt tesla. no, i think it hurts the other automakers. tesla's done just fine without subsidies. i think tesla could be the last

man standing in this ev race if president trump gets in office. i think elon musk is playing it smart. stuart: tell me again your target price on tesla? >> $290. about 20% upside from here. stuart: over the next 12 monthsing right in. >> and i've had to raise it multiple times. stuart: david nicholas, see you soon. j.k. vance says -- j.d. vance says can democrats are a threat to democracy. roll it. >> george soros and if barack obama and a couple of elite democrats got in a smoke-filled room and decided to throw bind overboard. that is a threat to democracy. stuart: pennsylvania congressman dan muse per on that coming up next. secret service director kimberly cheatle received heat from both sides of the aisle including from our next guest. watch this. >> overwatch was requested -- >> aerial? was that aerial? if that could mean on the water tower. can you be specific, ma'am?

i'm lunge out of daylight here -- running out of daylight here. stuart: pennsylvania congressman scott perry tells us what changes he wants to see at the secret service. he's next. ♪ what will you do when the power goes out? power outages can be unpredictable and inconvenient, but with a generac home standby generator,

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stuart: not much price change for the market in the very early going. all three indicators are down. dow's off 30, nasdaq down 41 points. the house oversight committee grilled secret service director kim cheatle. aishah hasnie joins us from capitol hill. did we learn anything new from that hearing? >> reporter: stuart, i wish i

could tell you that we learned something new. we really did not. and today we're wondering if we're going to earn anything new at this house homeland security hearing because they invited all the a big names. we're talking about fbi director christopher wray, alejandro mayorkas and, again, secret service director kim cheatle, and all three of them have declined to show up today to testify. and as a you mentioned, cheatle just had a very, very bad day yesterday here on capitol hill, a disastrous hearing for her in front of the oversight committee. she was really unable to answer some of the most basic questions for lawmakers on both sides of the aisle. she kept deferring to a report that really doesn't come out for another 60 days. democrat congressman jared moskowitz even compared her testimony yesterday to that of the elite university paths who were -- presidents who were here on the hill and couldn't answer basic questions about anti-semitism on their campuses. she did admit though the near-a assassination of donald trump was the agency's most

significant operational failure in decades. but she still thinks that she should keep her job. a lot of folks were calling for her to step down, and and that's growing on both sides of the aisle. watch. >> i will be joining the chairman in calling for the resignation of the director. >> i just don't think this is partisan. you need to resign. >> you're full of [bleep] today. you're just being completely dishonest. >> this is not theater, this is not about jockeying. >> how can there be accountability if you're not if prepared to fire someone? >> you should be fired immediately. >> reporter: so bipartisan members of the homeland security committee, they went to the site of butler, pennsylvania, that rally yesterday. they even climbed on top of that roof where the shooter was is setting. we will hear today from the commissioner of the pennsylvania state police9 and the national president of the fraternal order of police and perhaps today from both of these men we will get

some answers. stuart? stuart: perhaps. aishah, thank you very much, indeed. pennsylvania congressman scott perry pressed direct director cheatle yesterday. roll it. >> were aerial assets requested for this event from either the secret service or state police or anybody else, drone, manned, otherwise? aerial assets, by they requested in. >>s assets that were requested from the secret service for the site that day were all a granted. >> i didn't is ask if you used them or or what they used, were they requested? >> overwatch was requested -- >> aerial. is that aerial? because overwatch could mean on the water tower or not on the water tower. could you be specific, ma'am? i'm running out of daylight here. stuart: okay. [laughter] congressman perry joins me now. congressman, in my opinion, director cheatle will either resign or be fired fairly soon, but after that who -- what are reform do you want to see put in place? >> well, good morning, stuart.

it's apparent to me, and i think it's aa parent to america, that revolutionary change needs to happen at this law enforcement agency. obviously, it's rotted at the top. we don't know how far it goes, how deep it goes. but they have lost focus of what their mission is. it's apparent that they are not focused on protecting the principal, they're not focused on securing the site before or after an incident, and they're certainly not focused on protecting those who have the expectations of safety when they go to one of these events -- stuart: congress march, if i could interrupt for a second, what are they focused on? >> apparently, they're focused on making sure their friends have jobs in what appears to be highly sought after agencies including, in the credit service. that's what -- in the secret service. when i asked the question about how they hire based on capabilities, the president is a tall guy, and somebody needs to be able -- if they're going to

cover the president and move the president, to be physically capable of doing that. she didn't have any good answers for that either. so here again, it goes to what the core mission if of the organization is and just fulfilling those requirements. stuart: why won't biden fire cheatle? >> well, i'm not sure biden, president biden -- i don't know where president biden is. none of us know where he is. and so we don't even know why he can't make a possess press conference saying he's not going to seek the nomination or accept the nomination that he's been given by his party. we don't know anything about his whereabouts, let alone what he thinks about director cheatle. stuart: so why hasn't jill biden fire ifed cheatle? i'm being facetious, i know -- >> i know. stuart: minute somebody's running this government -- somebody's running this government. who do you think it is? >> well, that's exactly right. somebody has been running this government for three and a half years, and and we're not -- we're fairly certain we know who it isn't, or but we don't know

and we can't put our finger on whos it is. and now the democrat party wishes to continue the charade with this coronation and disregard the votes of millions of americans to select their nominee and just install their person with no track record of success, almost no track record of work. stuart: okay. a new york times poll showed trump holding a 11-point lead -- 1-point lead over harris in your home state, pennsylvania, but that poll was taken before the assassination attempt. fast ward to the present. -- a fast forward to the present, where do you think harris stands in pennsylvania thousand? >> i think think the more people are probably a lot of people across pennsylvania and the country who don't even know who kamala harris is. and when they learn about her misgivings, i think that that poll's going to widen. like i said, she's been given one job by the administration if, she has not -- she's failed. she hasn't cone the job, she's

failed at that job, and no one knows what she says -- doze except for creating world salad -- word salads. they don't know what she's accomplished or why she should be president. she could win her own party's primary -- couldn't win, including in her own state as a top democrat, as senator, how do you think he's going to win pennsylvania or any other sate? stuart: fair question. scott perry -- scott perry from the state of parks thanks for joining us. todd, why won't biden fire cheatle? >> biden fires no one. and can that is the concerning in and of itself because i understand hes has this false veneer or at least he had when he was sufficient wily president of being the nice if guy, but you're the commander in chief. there there needs to be accountability, and the buck technically needs to stop with you. if you have people that are bad

at their job, you know, like the secret service director, the border czar and all the other czars that kamala was along the way, you can't fire the vp, i -- but you can remove those tasks. he did nothing. stuart: check futures please, only down 6. nasdaq down 20. the opening bell is next. ♪ the best is yet to come and won't it be feign? ♪ -- be fine? ♪ this is clem. clem's not a morning person. or a night person. or a...people person. but he is an "i can solve this in 4 different ways" person. and that person... is impossible to replace.

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stuart: dow's going to be down 30, nasdaq down about 20 the or 30, that's at the opening bell in about 3 minutes. ray wang joins us now. i've got to talk about tesla. they report after the bell. i know you've got a target price of, what, $250, but it's there already. why are you focusing on this thing called mega packs in what is a mega pack if at tesla? >> well, the mega pack is how you actually store energy, and energy stored is going to be the toughest challenge that we have, because the electrical grids are very fragile, and everybody wants to do solar. tesla did about a just under $2 billion last quarter, is they're

actually achieving some of the biggest sales there. and the near term is in this mega pack market, not in robotaxis which they're going to to monetize two or three years from now. one gigawatts -- one gig watt of energy, it's like 876,000 homes per year in terms of the power that you can actually generate. stuart: so wait a second, they get energy, solar energy, and bottle it up in a megapack and then sell it. is that what they're doing in. >> yeah. think about a large container that can actually store all that energy, and people are buying them for industrial plants, they're buying them as a backups, they're buying them for data center usage. it's kind of -- it's probably the hottest thing that's going to be there, so i'm watching that number. stuart: we've also got alphabet after the bell today. cybersecurity or start-up whiz, they could off their $23 billion deal with google. they say they didn't offer enough money. what do you make of that? >> yeah. so our sources say whiz wanted

at least $30 billion for it. they think they can get that in the ipo. google's really, really interested in actually diversifying what their doing, so we're going to be looking at their ad revenue to see how they're doing if and, of course, what's going on in cloud. but the area they want to hit back on is cybersecurity to get at microsoft's business because microsoft if has been vulnerable as we saw on friday. it's an area where people are actually going -- they're looking for alternatives in the cybersecurity market, and google thinks it's a great place for them to get into cloud security. stuart: but without whiz, does the stock hurt after the earnings report this afternoon? >> i think without whiz, we're going to have to see if the growth numbers in the cloud are there to sustain what they're able to do and they monetize on a.i. stuart: can they monetize a.i., good question for everybody, i'd say. ray wang, thanks for joining us. always a appreciate it. the opening bell is -- they're ringing it. they're going to press the button, and we're going to start. i suspect we'll start slightly

on the upside for the dow, 15 points up, 40,400 even split, winners or and losers. s&p 500, on that index we're up about a half -- nothing. we're dead flat to ever so slightly higher. and the nasdaq composite, that has opened down, .is 15%, 27 points -- .15%. have a look at big tech, meta platforms at the top of the list which is close to $5000. amazon -- 500, apple is down 76 cents. some earnings reports came out before the bell today. if ups, well, they got a big drop. they're down nearly 10%. what's the problem in. lauren: yeah. so the teamsters' labor contract last year cost them about $30 billion. truckers, you're making $1700,000 a year. so you have that and reduced package demand. that cuts into quarterly profits. this is a bellwether for the entire u.s. economy. they missed on the top and the bottom lines, and they cut their annual forecast, so they're down

just about 10%. stuart: general motors. they used to make a big splash. when you got a gm report, you put the hidlines out there. -- headlines out there. lauren: they've opened to the downside. that's a surprise. they a raised their annual profit forecast for the second time. they're seeing big demand for their gas-powered trucks and suvs. the cfo said pricing hung in there, so they're not seeing this expected decline in prices. and, you know, when you look at their ev outout put, don't count them out. deliveries up 40% from last year compared to industry growth of just 1 is 11. nonetheless, the stock is lower today. stuart: coca-cola, again, another one you put the flags out when they came out, but they're buried by big tech the all the time. lauren: prices up 9% in the quarter. when we go to the store and complain about a things costing more, up 9% in one quarter but still we bought sew soda -- soda. [laughter] the stock is up 11.5.

stuart: spotify raised prices. lauren: they did, and it worked out. subscribers up to 246 million. they're up 15% right now. so people are gravitating towards spotify not just for streaming of music, but audio books and podcasts. so they've diversified. two quarters now of profitability. they're looking to push their mauer gins to 30% and what what they're calling consistent profitability. stuart: and they're up 15%. lauren: yeah. stuart: let's have a quick look at google and tesla. they report after the belled today. lauren: for tesla, it was dave nick nicholas who had the $290 price target. elon musk being forward looking what he has to say about the robotaxi and demand in china. stuart: let's move on. google, they come out after the bell today. lauren: yeah. you spoke about it with ray wang. google was about to headache their biggest acquisition ever,

a $23 billion purchase of an israeli cloud cybersecurity company called whiz. well, the whiz ceo reportedly said we are humbled by the offer at google, but it's hard to walk away but we are. we're going to ipo instead. reportedly to get more than that $23 billion. why was google willing to pay so much for whiz in the first place? they want to beef up their cloud cybersecurity to better compete with microsoft and also amazon. google's stock is up just a bit ahead of their earnings. this is a complete 180, a lot of users are annoyed about this. when you go on chrome to search for things, their cookies track every single thing you do on the internet. google said they were going to stop doing that. now they're not. they're going to continue to track you -- stuart: they want the information. sure. okay. apple got a big win in india, i understand. what was the win? lauren: india is cutting import if taxes on iphones to 15% from 20%. that can save apple $35-50

million. india produces about 101% of iphones now -- 10%. that number is growing as a apple moves away from china. they 'em port the rest, so this is a win for apple and india. stuart: coinbase got an upgrade. who upgraded them? lauren: citi did, they go to buy. they take the price target to 345. the stock is at $264 now. they say they could benefit from a couple to things. the election, that would be a better regulatory environment, and also the ftc approval and trading today of the spot ether etfs. stuart: price target the doesn't always mean if they're going up. lauren: yeah. i would say in general crypto and crypto-related stocks are just volatile. stuart: are we about to see another company go private and have its stock taken off the a exchangings? i'm talking mattel. lauren: mattel says no. the luxury private equity company wants to take a mattel private reportedly can and

return american girl, hot wheels and barbie to big growth again. i mean, mattel shares are flat to down on the year. but there's also reporting that mattel's archrival, hasbro, could buy mattel instead. we might find out more later today when mattel profits earnings. stuart: i know -- reports earnings. i i know crowdstrike has taken a huge hit. did cathie wood start buying the dip? lauren: in the past three days, crowdstrike has lost one-quarter of its value and, yes, she did. she is bold and brave. $11.8 million of crowdstrike stock she ed at around $305 a share, so she's already down. she did this on friday after that a worldwide outage. think about it. you've got congressional testimony coming up, potential liable, and she bought, like, $12 billion in -- million in stock. stuart: you take on a huge responsibility when you're chubbing around hundreds of millions of dollars. you're in charge of that money

on behalf of your investors. it's all on you. lauren: she believes in the company long term. stuart: check that big board, please. six minutes' worth of business. the dow is down 78 points. the dow winners, i want a list of that lot. coke, amazon, ibm, boeing, they are winners today. s&p 500, msci, [inaudible] thank you very much. sherwin williams, paint company. no big names. but this one, meta, doordash, datadog -- lauren: data dog. stuart: i'm not reading well, workday and amazon. lauren: they kept moving on you, but they remained the same. stuart: maybe i need glasses. you know, at my age -- [laughter] check the 10-year treasury yield, please. it's below 4.25, you're looking at 4.24. price of gold, $24, 49 -- 2449.

oil, $77 a barrel coming up, democrat congresswoman jasmine correct says that behind closed doors democrats don't want harris as their nominee. roll it. >> i won't name names, but there were people that were absolutely, like, it can't be the vice president. [laughter] stuart: okay. harris seems to be coasting towards coronation, however. bret baier takes that on later in the show. are democrats really as unifieded behind harris as they want to appear? bill hemmer will take that one on for us and will a harris economy be more progressive than bidenomics? john lonski breaks that one down. it's all coming up on "varney & company". ♪ ♪ say it ain't so ♪ if i will not go -- ♪ turn the lights off, car caryr are y me -- carry me moment. -- carry me home ♪

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stuart: check those markets, please. the dow is down 332 the points, the nas dash is up 30 -- dow is down 32. question, what does kamala harris' economic policy really look like? edward lawrence at the white house. will the policies be the same under harris or even more for progressive? if what do you say is, edward? [no audio] okay, we appear -- oh, now -- we missed the top of your report. [laughter] >> reporter: sure, stu. yeah, different, it's a different face but the same ideology with. and on some of those issues -- we're talking about the border issues. vice president kamala harris has only been to the border once. she believes the solution lies in root causes in central and south america.

as the border czar, she held only a few meetings with other leaders, but that's it. republican strategists say her legacy as vice president will follow her. >> people remember the tulsi gabbard takedown on the debate stage when kamala harris put thousands of people behind bars for smoking marijuana, and yet she herself laughed and bragged about the fact that she would listen to bob marley and smoke pot. the messaging is so off a, and it seem like she's going to hold on to these biden if policies as well. >> reporter: she broke a 200-year-old record for tie votes. she supported all this spending that president biden has signed into law that spiked inflation at a 9.1% in june of 2022. still it's not back to the fed's target. defenders of the vice president could not answer specification on what she's accomplished in the administration. >> joe biden is someone who has always fought for the middle class, and i think kamala harris

as vice president has joined with joe biden in a lot of the issues that he's taken on that have strengthened america's middle class. >> reporter: the vice president is also the gun violence czar, but the white house says it was president biden that did the heavy lifting getting that bipartisan law passed in 2022. oh, by the way, she is also the a.i. czar but struggled in the last interview she did about this to say and explain exact exactly what a.i. is. stuart: explain what a.i. is, got that. edward, thanks very much, indeed. look at this from "the new york times"es. quote, a harris economy could prove if more progressive than bidenomics. the times lays out former policy proposals from harris such as rent controls, a 35% corporate tax rate and a lot more government regulation. john loan key -- john lonski, economist, joins us now. do you believe it's more progressive than bidenomics? >> yes, it is. and, of course, if it is more progressive, that means more government spending, higher

inflation and eventually fewer jobs, unfortunately. stuart: yeah, i mean, that assumes that she could get it through, and i'm not going to make that assumption as all. >> that's a guy significantic assumption because chances are we will have at least a split congress, and there may be a lot of democrats who are opposed to a much greater expansion of government with a bigger deficit and higher interest rates. stuart: just hold on for a second. i'm going to get back to you in a moment. this is for you, tornado. a judge just paused, as in stopped temporarily, guaranteed basic income payment for low income families in st. louis, okay in he paused this problem. what's the problem? >> critics claim the program, which is popular in democrat-led areas, was open to abuse. this after a mother of three in washington, d.c. spent around $6,000 of her payment if on a luxury trip to miami, a new wardrobe for her kids and a glow-up for herself. i'm assuming, lauren, that means

you make yourself all a pretty. republicans cited a clause in missouri's constitution prohibiting the grant of public money or property to any private individual. as you mights imagine, the left wants this probably in many instance to get votes. stuart: let's take the big picture for a second. what do you think of universal basic income programs to end poverty, lonski? >> a very bad idea with. all it's going to accomplish would be higher prices than otherwise, and so whatever improvements poor people get from this income if grant will be wiped out by higher prices. there will be a reduction in the purchasing power of the dollar. stuart: but it's the principal -- principle, something for nothing. you acknowledge that principle -- >> exactly. and i think you have to be very careful with these type of proposals because i think all that -- they do is long-term

harm to the economy, and they do, don't help at all. and also for some people this is going to go ahead and be a disincentive as far as working concerned, which is very damaging to these to individuals, long-term prospects both economically and i would add socially. stuart: got it. john lonski, thanks for joining us, appreciate it. coming up, democrats have, indeed, settled on a replacement candidate, kamala harris. i think this is an old fashioned backroom deal to put a san francisco liberal in the white house. i don't think it's going to go down well with voters. that's my take, top of the hour. big day for crypto. spot etherium etfs making their market debut, and both donald trump and elon musk are fueling the crypto hype. that is next. ♪ it's been a hard day's night -- ♪ and she'll be sleeping like a log. ♪ but when i get home to you -- ♪ i find the things that you do will make you feel all right ♪

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♪ if. ♪ stuart: etherium, that is a crypto, coming to wall street. the first spot etherium etfs have potentially started trading.

kelly o'grady knows the story. it's a big win for crypto, isn't it? >> reporter: oh, this is huge. this is the second crypto etf approved this year. the sec gave the go ahead to eight different applications including blackrock and fidelity, and this credibility that it's lending to the space with huge for it. now, packaging ether, if you think about, in an etf wrapper likely makes it more attractive to invest ifers. there's a comfort level there. analysts are expecting this to be big, billions flowing in this year, up as much as $15-20 billion. that would be similar to the to the boost bitcoin saw after its spot etf launches. etherium, you can seest been up and down. it's already seen a 50% increase in price, but it has been choppy leading up to this approval. this all comes as a crypto is becoming a key issue in the election. i saw a harris poll, one in three crypto voters are going to consider crypto when they're

thinking about their vote for president so, obviously, the candidates are looking at this. this weekend former president trump is expected to announce a plan to classify bitcoin as a strategic reserve asset, that would see the treasury buy billions in bitcoin to hold alongside other assets like gold. there's a lot of hype going into this conference, stuart. elon musk might be getting involved. so he posted his new x from if file picture, they're laser eyes. it's a meme that's to associated being bullish on bitcoin, so a lot of people are wondering, is he going to show up at the conference? he's been a huge supporter of president trump's campaign. regardless, crypto's becoming mainstream, and this weekend is going to likely see a huge announcement. we're going to be there for it. stuart: crypto has arrived. >> reporter: its coming-out party. [laughter] stuart: kelly, thank you very much, indeed. back to the markets, please. we have the dow down 48 expect maas -- and the nasdaq up 30. these are the top stocks in the

dow 30, amazon, coca-cola, microsoft, boeing and american express. s&p 500, this is the way we get lots of stocks on your screen so you can check out your purchase. msci, pent if air, how do you pronounce that? hca and brown and brown sin inc.. amazon, crowdstrike, datadog and siriusxm radio. i do need glasses. the 10-year treasury -- [laughter] can't use yours. the 10-year treasury yield is at 4.24%. the price of gold is $2448, up $6 today. bitcoin or as we've been showing you, 65,9 is the price. oil down, $77 a barrel today. nat gas, $2.20. and the average price for a gallon of regular gas, no change there at $3.550. but deals, i bereave we're up one cent at $3.83. thank you, todd, for coming on the show. we always appreciate if it. still ahead, mike huckabee. why won't biden fire the secret

service director? the cavalier way the administration's handling netanyahu's visit. congressman russell fry will help us answer the question, who is really running the government if it's not biden? and kamala harris going right after donald trump. she says she knows his type. brian kilmeade with more on that. the sock hour is -- the 10:00 hour is next. ♪ and the trumpets, they go -- ♪ ♪

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stuart: this is the song that kamala harris came out to, freedom by beyoncé who gave her permission to use the song. 10:00 eastern, straight to