stuart: one of the best rolling stones songs of all time speaks to people, i can't get no satisfaction. neil: what about these three hours with tween were 2 more to go. stuart: straight to the money. green for the dow industrials up 157. a strange market, thousand 160, nasdaq is down 374 points following a huge loss yesterday. have a look at big tech. what's happening there? all down yesterday. all down again this morning. amazon, apple, microsoft, nvidia, the yield on the 10 year treasury coming down 4.23%, bitcoin coming down a bit. that's the markets and now this. right before president biden

addressed the nation the us will terry intercepted russian fighter jets and two chinese bombers off the coast of alaska, they were prodding us, testing us as our president was about to start his long goodbye. i said, frail, humbled president passing the torch. he defended his record and said he thought he deserved a second term but never told us why he is leaving. that is important because the real reason for his leaving is his mental and physical decline. every one knows it, everyone sees it, it's fair to ask if a man an obvious decline is capable of doing the job. he's not. that is the danger. president biden is our elected leader but does anyone believe he is the one exercising power, democrats can't admit the frailty. karine jean-pierre insists biden's leaving is not about his health. he covered up his true

condition was only when the polls showed he couldn't win the election did they get him off the campaign. somebody else is doing the job. has the president was speaking, hamas took over the streets outside defacing monuments, burning the american flag. we need a demonstration of strength to bring our country back, not a president in chronic decline. second hour of varney getting started. ben, the president said he had to step aside to save democracy, are the democrats saving democracy? >> not at all. i give credit to you, first time we've talked since this played out, you were the first to put forward the idea that kamala harris would replace

president biden. you asked me that last year, you need to pat yourself on the back, as you were. one of the things we can see looking back is all of this really was something the progressive left helped engineer. they went along with this, furthered their interests by having kamala being the person instead of president biden. a large part of that has to do not just with his to mystic policies but foreign policies as well. when you look at the initial decision of kamala harris, not to attend the event at the speech last night, when you see those pro-hamas protesters tearing down american flags, engaged in this type of violent behavior the truth is the progressive left is on their side and that is who kamala harris really is. i've heard a lot of people say she's a dei higher or she's

unqualified or she's just is kind of silly person the way she laughs and talks. i think she's very dangerous for the country, very dangerous for the world, she comes from a progressive left background that would make at the furthest left president we've ever had in our history in my opinion and we shouldn't be making light of this situation. it is true that there's a huge amount at risk when it comes to the way kamala harris could potentially change us. >> reporter: donald trump is on fox and friends, he said he believed people who burn the american flag should go to jail, one year in jail. what do you say to that? >> burning the flag is something that has been adjudicated in the past by the supreme court as a free-speech right. that shouldn't prevent us from fully enforcing other laws we saw broken and all so that frankly when it comes to that issue we should be

reconsidering it. this is a moment i believe in american history where we have a true anti-american effort we've not seen in a long time in america of a different nature, approaching the level of foreign activity then we've seen happen in the past. one thing we need to be aware of is this is only going to get worse under democratic party led by kamala harris on the far left. stuart: thanks for joining us. elon musk was spot on capitol hill. what was he doing? lauren: musk went to israel, toured the damage with benjamin netanyahu, one month after the attack. is also activated star link at a hospital in gaza with permission of israel. is a vocal supporter of donald trump who will meet with benjamin netanyahu tomorrow. stuart: kamala harris spoke on

wall street, do we know what they were talking about? >> how do you sell her to their industry. she might be affecting their wealth and the taxes that they pay. how do you get wall street on board with a nominee who wants to do these things, this was a private zoom call with private financiers including robert wolf. they had a lot of questions for her even on foreign policy and they want to figure out how do we get the rest of wall street to bring in cash, how do they get rich people to give her money to beat trump. >> reporter: no wealth tax, how about that? not tax unrealized gains. that would bring some people on board. >> raise the corporate tax rate to 35%. stuart: you lower the corporate tax rate. that would bring people on board, back to the markets. gary is on the screen shortly. is it an ai bubble and if it is, is the bubble bursting?

>> let's hope it's not a bubble because bubbles will drop 15% to 75% when they talk about. i'm not in that camp yet. i just think 2 thursdays ago we got a big gigantic cell signal. this is important for the viewers, i think what has happened here is at the highs recently 8 stocks, were 48% of the nasdaq 100 and even more amazingly six stocks were 30% of the s&p 500 so they just became very overowned, very overloved, very overleveraged and you have to go back to some sort of norm and now the money is flowing out very quickly out of there but the money is flowing into financials, lower beta things, you have much better relative strength in the small and mid-cap. i mentioned that you last thursday. whether that continues or not i don't know.

i just think technology of all stripes now on the defense of. where it stops, i don't know. i'm out of the way. blue when you are not doing any dip buying in this situation. >> no. the market will tell me when to get back in. we first have to see price defended over a period of time on the important names and they are coming after all the stalwarts with abandon. we will read it when it starts to get better and you can even see today the dow is up nicely at the nasdaq, nasdaq 100 him to act and the -- getting squashed again. we won gdp up 2.8% in the second quarter, stronger-than-expected, strong report compared to the first quarter. is that a plus for the market? >> not necessarily and i'm not sure i believe those numbers. i'm watching manufacturing service numbers drop markedly and they tell us gdp and i've

got to look more in depth. when you have a government spending $2 trillion more than it has taken a lot of that goes toward gdp. i think the fed is ready to lower rates. right before an election maybe that moves the market a little bit. i think the economy is okay. i don't think it is anything special. i believe 2.8%. stuart: you are not backing to the big tech arena at this point. >> not even close. stuart: thanks for joining us. see you soon. always looking at the movers. start with warner bros. . lauren: the league rejected their matching bid for tv broadcasting rights. they had a partnership with the nba for 40 years. instead the nba, espn, nbc universal and amazon, a loss for warner bros. stock down 6%.

stuart: honeywell is an industrial company. lauren: they are trimming their forecasts, seeing unit demand for industrial automation specifically from warehouses. a few more orders from masks. stuart: toymakers have been in the news a lot. how about hasbro? lauren: what a winner, stronger profits thanks to digital gaming get, this turnaround cutting costs holding 50%, had a discount. stuart: democrats and media quick tufano over kamala harris. and president biden has time to pass the torch, to assure the country he is good to serve another 6 months.

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stuart: what a split market, dollars up 183, nasdaq is down 255. we will try throughout the show to explain that but we have a split market, president biden delivered his first formal remarks since dropping out of the race. lucas tomlinson, did he give reason for stepping aside? >> reporter: that's a matter of debate. he didn't give a specific reason about his health are spending more time with family. this is the reason the president gave. it is become clear to me i need

to unite my party in this critical endeavor so i decided the best way forward is to pass the torch to a new generation. that's the best way to unite our nation. >> reporter: two weeks ago president biden said he wasn't going anywhere. >> is he going to stay in the race? was he going to drop out? i am running and we are going to win. >> reporter: yesterday at the white house, karen jean-pierre ruled out health as a factor in the president's decision. >> reporter: he talked about the country, talked about the party. you talked about the moment we are in right now. it is not about his health. that's not the reason. >> the white house responding to the flagburning at union station saying, quote, identifying with evil terrorist organizations like hamas,

burning the american flag or forcibly removing the american flag and replacing it with another is disgraceful. anti-semitism and violence are never acceptable period. every american has the right to peaceful protest, but shamefully today. president biden will host angela netanyahu here at the white house in a few hours, that meeting set for one:00 p.m. eastern. stuart: thanks very much indeed. joe con sure will come on them. you saw biden's speech, what role can he have in the campaign bearing in mind, i don't think he sounded or looked real good. what role could he have in the campaign? >> this is a president who is seen as profoundly we can't patently dishonest. this was not president who was believed out of the oval office bierly to the party likely obamas, the clintons, his former friend in the media. that does not look good to the

american people. why would you put someone like that on the campaign trail and here's the thing, donald trump took a bullet to the year and got back up and said fight fight fight and two days later at the republican national convention. president biden is not seen on camera for 6 days. puts on a statement saying he's not going to seek a second term in only days later do we see him in what looked like a hostage video talking to up a teleprompter, talking to the american people and telling all his successes, the border has never been more secure or crime is a 50 year low when district attorneys aren't enforcing the law the way they should. ask anybody in new york, san francisco, washington, dallas, chicago if they think crime is at a 50 year low. what -- when he is out there he will slip up in some way, shape or form like we have seen and when you see president biden, you see weakness, bottom line is you can't be the guy -- and stepping aside to save

democracy, save democracy from trump, my party just installed a candidate who didn't receive one vote, not one when she ran into thousand 20 as president, during this election cycle and you are going to install her and say that is democracy, people are going to shake their head at this and things will get worse for democrats, not better with kamala harris at the top of the ticket. stuart: listen to this from james carville, he says harris is a more vulnerable candidate than democrats think. >> real change in mood and the party and around the country but we got to be careful. it will still be a very difficult race. will be very close, understand people are feeling a lot better and are excited but that excitement has got to be tempered with realism. the realism, she has a tough campaign to run. stuart: will trump versus harris to be a closer race than trump versus biden? >> no.

i think it will be worse, this will be a landslide. you can say that's overconfidence. i look at basic facts here. i mention kamala harris how she didn't receive one vote as a 2020 president a candidate because she couldn't get -- he was roundly rejected by democratic voters to the point she had to drop out early and had the audacity to call the same voters sexist and racist, helpful way to talk about your own party voters and you tell me when kamala harris visits pennsylvania and meets with blue collar workers how will she explain she went on national television is a presidential candidate and said she wanted to ban fracking, that's a game changer in a state like pennsylvania where harris is trailing. what happens when she goes to michigan and meets with autoworkers and talks about her ev push to save the environment, that somehow received by autoworkers, means less jobs for autoworkers. by the way what happens when

she goes to arizona and talks about securing the border. is border czar she gets after minus and want to add ice to the kkk. when she's outside the teleprompter, same result as biden except he has a record to defend, words to defend and they are indefensible in those swing states where i say donald trump sweeps north carolina, arizona, nevada, wisconsin, penciling you, michigan, virginia, new mexico. we want that would be a landslide. only time will tell. love your stuff and see you later. former obama adviser david axelrod says trump is still the favorite against harris. what more is axelrod saying? ashley: he says trump is still, quote, a pretty substantial favorite based on electoral challenges even as more democrats throw their support

behind harris. axelrod says biden's decision to drop out was sad but necessary. he expressed concerns that a coronation for harris may not play well but one of the first polls done after biden dropped out shows harris with the two point lead over trump, 44% to 42%. as for potential running made for harris axelrod believes two of the favorites include pennsylvania governor josh shapiro arizona senator mark kelly but they are as many as a dozen currently being considered. stuart: got it, thank you. coming up, kamala harris was named the most liberal senator in 2019. role it. >> nonpartisan go track rated you as the most liberal senator. you supported the green new deal, you supported medicare for all. stuart: harris's response to that question. hillary vaughan will reveal

harris's ultra progressive record, 3 in 5 americans think the us is in a recession which what does kevin o'leary think about that? the market is down 190 on the nasdaq. we will be right back. ♪ ♪ ♪

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the call is free, the quote is free, and there's no obligation to buy. call or go online now, 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: we've got a split market, the dow is up 200, the nasdaq is down 133 points. the index is up 1%. on the screen, alphabet, microsoft, nvidia, the money is coming out of all of them. where does it stop? don't know.

lauren is looking at the movers. lauren: look at these declines. it is down 6%. i looked at these names, they are down 11% this month, double digit losses since july started. is the ai hype wearing off? is our patients for monetizing ai not paying off? there are questions about the rotation. stuart: moving away from technology, lululemon down 5%. lauren: citigroup cut them to neutral, they have credit card data they look at in the activewear category, sales are down 9% in the quarter. jpmorgan came out and remove lululemon from their analyst focus list, shares at a new low. stuart: harley-davidson holding off on buying expensive bikes during the summer.

lauren: many riders had waited to buy this bike that came out, stocking 8. 4% on solid earnings. we went if you've got money are doing okay. in 2019, kamala harris was voted the most liberal senator, more liberal and bernie sanders. hillary vaughan on capitol hill. what liberal policies did harris support during that time in the senate? >> reporter: president biden has been the most progressive president in us history with historic spending on things from climate to student loan forgiveness. as vice president kamala harris is more progressive, fighting for a chance to put those progressive policies in action. here's some of what she has pledged to do last time she ran for the top office. >> we got to critically re-examine ice, thing about starting from scratch. i am prepared to get rid of the

filibuster, to pass a green new deal. no question i'm in favor of banning fracking. >> what about offshore drilling? >> i have worked on that. we need to have medicare for all. >> or consider the most liberal united states senator. >> somebody said that. >> are you going to bring the policies, progressive policies you supported and senator into a biden administration? >> what i will do, i promise you this and this is what joe wants me to do. >> with joe off the ticket in 2024 harris is in control of your she when she gets to do what she wants to do. donald trump warns she could go down in history as the most radical president ever. >> i believe she is a san francisco radical, she's a much worse in a way a much worse candidate than he is, she's not doing very well in the polls considering she's got a little birthday present. she also wants to defund the police and she wants to do it

more than any other person. >> reporter: we've seen democrats rally behind kamala harris as their presumptive nominee and from what progressives have indicated they think she's going to be one of their strongest allies in getting key part of their agenda through if she wins the white house. stuart: listen to what donald trump had to say about the state of the economy under the biden administration. >> the most radical person we've had an office little on the office of the presidency. i have the economy on our side, they have a lousy economy that is so inflation written that we have the worst, i think we have the worst inflation in the history of our country and it is destroying people. people have to pay twice and 3 times more than they were paying for something one year ago, two years ago. stuart: now you know what he's got to say about the economy.

kevin, what would a harris presidency mean for the economy in your opinion? >> we don't know. that's what is so interesting. years ago i went to military academy near vermont and wrote my first one hundred% paper in history. i love history. i wanted to study history, my dad said you will starve to death. luckily he was right and i did other things but i never gave up my love for it. this is about policy and redefining a candidate that has basically no history. she's a blank piece of paper, she was inconsequential as a vice president, you never saw her during the biden presidency. her job is to redefine herself towards the middle and she could have consequences if she could do that versus getting painted by the other side which is happening as we speak as a radical left-wing party member. this is classic bismarck,

classic kissinger, this is where you study history to see who can win this redefinition race, that's where we are right now. stuart: do you assume she will redefine herself towards the center? is that your assumption? i think kevin dropped his microphone or the ifb went down. i'm going to move on. britain's royal family will be receiving a big raise this year. ashley, how much are we talking about? ashley: i am waiting for my slice. of 53% raise, worth 45 million pounds, or $58 million. in the last financial year, the crown state that manages all the royal land and property portfolio generated a profit of $1.4 billion. part of that revenue generated

by offshore wind farm leases on royal land, turned out to be a boon for the family. this money generated first goes to the treasury and the government returns the percentage under what is known as the sovereign grant to cover the operating costs of the royal household. the royal family in addition to cash will get two new helicopters. critics not impressed. they say brits, 40% inheritance tax while king charles paid exactly 0 on the estate he inherited following the death of queen elizabeth the second. lauren: we've reestablished contact with kevin o'leary. kevin. i was about to ask you. there's a new study that shows nearly three in five believe the us is currently in a recession. doesn't feel like a recession to you?

>> what we have is a consumer led revolution against inflation. average income just under $70,000 being hit hard by housing, energy and food, specifically protein. they are up 30%. that's the problem and that will matter in this election. i don't think you can fix that by the time november 5th comes around at that the problem. stuart: i would say in this country at the moment the top 20% of income earning doing just fine, no problems. the rest as you go down the income chain really struggling with inflation, do you see it like that? >> i do. this is a political issue. the real problem is it is sticky and it won't go away and it affects you on things you do every day, eat, gas of your car and pay your rent. i'm not sure how this is going to play out in terms of what

happens at the polls but this could be one of the defining issues in swing states because i don't see how anybody can fix this. don't care what party you are in. it is because we spent too much money on the inflation reduction act, that was $2 trillion printed, too much and now it is taking its toll on the economy defined by inflation and you can't put that genie back in the bottle. stuart: we miss you, come on back to new york. just they had, house republicans will vote on condemning kamala harris for her role in the border crisis. griff jenkins, the white house dodged question about wanting to abolish ice. >> does she still want to get rid of ice? >> you have seen what this administration has been able to do for the past 3.5 years and we did that with the vice president as a partner in that.

stuart: despite the ongoing migrant crisis harris has yet to speak to the border patrol chief. ♪ 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.

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stuart: the story on the market this morning is continual taking of money, rotating money out of technology to big tech and putting it in smaller second and third tier caps so you have the dow up 130, nasdaq noted loss, going down 71. if you look at big tech, most of them are lower at this point, apple, amazon, alphabet, microsoft and meta all down. money out of there and into items like the russell 2000. that's the story. the white house is dodging

questions about kamala harris and whether she really wants to get rid of ice. wallet. >> does she still want to get rid of ice? >> you've seen what this administration has been able to do in the past 3.5 years and they did that with the vice president as a partner in that. now we are seeing a 50% drop at the border. >> she's been in charge of root causes of migration for years, she's never spoken to border patrol chief jason owens or the patrol chief before him, rowel ortiz. what should that tell us about her leadership style? >> she was supposed to be doing root causes deal with diplomacy. that is what her job was supposed to be. diplomatic. >> now we know. lieutenant chris olivarez joins us now from the texas department of public safety. how do you address the root causes of migration without speaking to the border chief?

>> that is impossible. yes, we have a diplomatic solution but the fact of the matter is we need to get approved because of the root cause by talking to those top officials the deal with the situation every single day, most important the going to those areas that are impacted by the border situation, talking to agents on the ground see what they are seeing and what they need in terms of manpower, resources, technology you cannot go to the border one time and see a sanitized version and turn your eyes away and say the border is secure, there's no problem to see here. that's the problem we face the last 3 years in texas with her leadership in texas under governor abbott, they come to the border just about every single day, being briefed on what is happening been able to do that, that's why in texas we been able to get border crossings down 74% for the last

3 years. because of what we been doing in texas. stuart: i think they are deliver the confusing things, deliberately covering up her record on the border because i think president biden told her deal with the border, he gave her the border to deal with, somebody else invented the word border czar but she was given the border to deal with, you cannot deal with the border unless you go to the border and speak to the people in charge at the border and in charge of border policy. they are delivering trying to cover up her record here. let me move on. if it looks like trump is winning do you expect to see a rush to the border before the election? >> that's one thing we expect regardless of who wins. we've maintained a proactive posture, border crossings are down, we've not let our foot off the gas so to speak, we continue to deploy national guard soldiers, state troopers, the governor just mentioned something this week on his social media that he's going to

trickle down physical barriers in which national guard has been doing so we will not take any chances, we want to continue to keep texas secured until we have a change of leadership and have real solutions to secure the border. blue one massachusetts, a sanctuary state scaling back emergency services for migrants, offering them plane tickets for migrants who want to leave, doesn't seem like massachusetts is much of a sanctuary now. i'm being sarcastic. they are not like a sanctuary state is supposed to be. >> ironic to see this transpiring with sanctuary cities and states before this was happening that people welcomed illegal immigrants, now they have it they don't want the problem anymore because you see how it is devastating not only their cities and states but economically and people are speaking up. they are outraged because they

are not getting benefits these illegal immigrants are getting. texas we continue to bless and fly them to sanctuary cities and states. the governor made clear we will continue doing so until we get the situation under control. neil: always appreciate it. the us military intercepted russian fighter jets and two chinese bombers off the coast of alaska right before biden's address. mike walts on the armed services committee in our next our. is the outgoing biden being tested? big tech says artificial intelligence, a growing number of panelists starting to see a bubble. brian payne on the big tell off next. ♪

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right now house republicans voting on condemning kamala harris's handling of the border. what would this vote actually do? >> this would officially condemn vice president paris for, quote, failing to secure the border. that is what the resolution says but we are also watching how the media will cover it. the voters underway and maybe on the way to passing. we want to know how the media reports on it and whether we are witnessing are rebranding underway. here's how they reported harris being tasked three years ago. take a look. the ap wrote biden taps vp harris to lead response to border challenges. biden makes harris the point person on immigration issues amid border search. biden has harris with stemming the migration on the southern border. axioms even wrote this, quote, harris appointed by biden as

border czar. no changes, no directions, suddenly harris becomes the nominee we start seeing these headlines, actio's says the trump campaign and republicans attack harris with the border czar title which she never actually had. here's what she really did, usa today saying harris border work was en route causes on migration. the white house has made it clear effort to reframe things. we hear karine jean-pierre talking about diplomacy. republicans are leaning into it. >> 64 days into this administration biden named harris his border czar. my friends from across the aisle are trying to cover up her failures and are you she was never even in charge. >> we should have some answer. looks like the republicans only

need 272 but one fact that won't change, confirm that harris never once spoke or met with the current or previous border patrol chiefs. stuart: we've got to get back to the market. interesting situation. we've got all the indicators on the upside including the nasdaq and a lot of running coming out of big tech. the russell 2000 the rotation out of big tech down to smaller companies going on on wall street. rolling green, dow, s&p and the nasdaq. nvidia, doesn't pause for that. kamala harris is vetting around a dozen people to be her running mate. take us through the names please. ashley: the list includes

several governors including josh schapiro of pennsylvania, roy cooper of north carolina, andy bashir kentucky, tim walt of minnesota, gretchen witmer of michigan. that's a lot of governors. also under consideration some members of the biden administration including gina romano and transportation secretary peach buttigieg. report reports say arizona senator mark kelly is in the running. the vetting being handled by eric holder and the process will be complete by august 7th. they will meet the deadline about requirement in ohio. the clock is ticking. stuart: still had on this program today molly hemingway on biden saying he needed to step down to save democracy. mike waltz on nancy pelosi calling benjamin netanyahu's address the worst speech to

congress. at the west bank, talking to palestinians, almost didn't make it out alive. the 11:00 hour is next. ♪ ♪ ♪ ♪ ♪

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>> they're going to tie to paint him like a george washington that put country for party and he got shoved out the door. he was so selfish. >> we can't have weaponization of the secret service and fbi like we have. >> if you're an invalid and want to be paid be do, vote for kamala. >> it's like a slow motion train wreck and we've seen this before time and tim