of his songs are still major hits. there's a a xl rose. he hasn't written a new song in a long time, and yet all of his songs are still, you know, top of the charts in some cases. i also want to to mention that today is national dog photography day, so expect lots of pictures of dusty on my instagram and on dusty's instagram today. [laughter] maria bart romo or dusty -- there she is, on national dog photography day, caroline, cheryl and john. >> we'll have to be looking at that. i want to add a, you know, billy joel, first 4eu9 was back in 1973. that's 51 years ago. maria: amazing. you're right, unbelievable. guys, have a great weekend. great to be with you. i'll see you tonight on maria bartiromo's wall street. stu, take it away. stuart: good morning, everyone. a crippling attack on france's

high-speed rail system just hours before the opening ceremony for the olympic games. organized groups of salk tours set fire to major rail lines into paris, massive disruption. we don't kno who did it, and we will not speculate. but consider this, the open border makes us vulnerable. known terrorists are already here. we'll be following this very closely. another news story related to the border, two cartel leaders arrested in el paso, texas. one of them is the son of the infamous "el chapo". they are accused of running large quantities of cocaine and fentanyl across the border into the united states. another inflation indicator, the personal if consumption expenditure index, up 32.5% -- 2.5% in the past year with, up 0.1% month over month. the fed follows this one very closely. and here's the market reaction, seems, very, very positive. the dow could be up over 200

points at the opening bell, the nasdaq up 180. interest rates, the yield on the 10-year treasury at 4.22%. as for the 2-year, that's a well below 4.5%, you're at 4.40 right now. bitcoin, $67,000, there you have it. the big crypto conference begins today. donald trump speaks there tomorrow. gold, $2,4424 per ounce -- 222, 424. oil, $77 a barrel. gas down one cent. diesel, $3.822, down one cent. politics, a new poll shows kamala harris now in a dead heat with donald trump. it's the 47 harris, 48% trump. and it is official, barack and if michelle obama have endorsed kamala harris. donald trump meets israel's netanyahu today at mar rah mar-a-lago. he told "fox & friends," quote, i'll make sure that it gets over with, fast. end quote. on the hoe today, kamala harris gets a rapturous reception at

the teachers union convention, but she never mentioned pandemic school closure, and there was not a word on school choice. it's friday, july 26th, 02024. varney -- 2024. "varney & company" is about to begin. ♪ ♪ it's been a hard day's night, and i've been working like a dog ♪ if stawfort. stuart: stuart nothing like starting out with a little beatles. like that song. i believe that is the song that john lennon thought the his best composition. lauren: i would agree, a good one. stuart: that voice you hear now is lydia hu, who is with me for the morning. it might be a summer friday -- well, it is, but the news keeps on coming. look at this new poll from "the new york times". it gives trump a 1-point levered harris in a one-on-one matchup.

lydia, take me through this one. liz: this is really jumping out to us because, as you said, they're in a dead heat at this point. the same poll showed us just around the time of this debate that trump was leading biden by 6 points. this shows us the switch without of biden to harris now, they're back to the a dead heat. seems like an encouraging sign for harris, right? but you might say this is a new development, maybe this is just a honeymoon period, he's -- she's just reorganized the democratic party. but we're also getting, stuart, a brand new endorsement this morning. watch here. >> michelle and i couldn't be prouder to endorse you and to do everything we can to get you through this election and into the oval office. >> oh, my goodness. lydia: you know, the obamas there endorsing kamala harris, really interesting to read the transcript of that phone call. i took a look ask said president obama referred to them as the underdogs, just a little intel on how he's perceive ising this election. so a long way to go.

more than 100 days, so a lot can change especially with talks about trump debating harris and just real quickly here, stuart, a new cn, this poll shows trump is leading harris 49-46 nationally. so it also depends on which poll you're looking at. stuart: got it. stay there, lydia, you have the great joy -- [laughter] of saying -- staying with he for the hour. are lucky you. kamala harris says she's ready and willing to to debate trump. roll tape. >> now appears he's back pedaling, but i'm ready. and i think the voters deserve to see the split screen that exists in this race on a debate stage. and and so i'm ready, let's go. stuart: it's time for tammy bruce on a friday morning. how do you think harris would stack up against trump in a debate? >> not well. remember, in 2020 she was the presumptive nominee in a way. she was leading everybody, and and she collapsed the moment there was that debate, a couple debates. she made some points on just the

issue of race against biden and she dropped out, she didn't win -- she got no votes, but even to that point the l.a. a times did a story about what the problems were in her campaign. the same complaints about her office as a vice president, bullying, no vision, generally a disconnection between everyone, that nobody knew what was going on. so i think that's a reflection -- if you own what your issues are, you're going to be fine in a debate. that was a few years ago, but she hasn't changed much. one of the things she said about at trump not committing to a debate was what happened to anytime, any place? some people have responded to that, what happened to people voting for their nominee before a presidential race? so this is, i think, a dynamic where there should be a debate and, certainly, president trump -- as we saw with the biden debate -- i think, is going to be steady. he wins on the issues, and she certainly does not -- stuart: i think that kamala harris will try to rile him up.

>> oh, absolutely. they have to make it personal, sir. just like a prosecutor against a felon. they need it to be personal because right now the dumpster fire that is the country is her fault. stuart: okay. you've got a new book out, and i'm going to get to it in just a moment, but first, i'm going to deal with some inflation if news that that we received this morning, it's the if pce, inflation number. you know more about this than i do, lydia. lydia: i hope so. i've been looking into it, and here's the truth: prices are still high, stuart. it does seem like inflation is easing a bit which is probably good news for all of us. 2 2.5% -- 22.5% -- 2.5% year-over-year. 11 higher headline which is what was expecting, core there, .22. here's the news on the year-over-year when we strip out the volatile energy and food, it's actually a tick higher than what we are looking for when we take a look at the sending and the income coming in a bit

weaker which is a little bit concerning, .22%, we were looking for .4. dow off the highs of the morn, it was up around a 2800 just before the horse -- 280 before the report came out. sue suiter the markets do seem to like this. the dow's up 220, i think it is, 226. the s&p on the upside 37 points, 172 up on the nasdaq. kenny poll around key -- poll carry on a friday morning. good to the see you again, kenny. >> always a pleasure. stuart: are we see seeing cracks in the a.i. rally in. >> i'm not necessarily sure you're seeing cracks at all. i think the the tech stocks have been priced to perfection, i think investors have take them to a little bit stretched levels and now they're looking for anything, any one little item in their earnings report that suggests something that that they didn't expect, and then they -- look what they did, you can see what they did with tesla and google. google, by the way, was a great report.

they made $10 billion in the quarter. they focused on one little line about a youtube revenue. in my mind, it was ridiculous. so i think what's going to happen next week when we hear from some of the other ones, they're going to be scratching the headlines just looking for the one negative thing they can use to create this drama. stuart: i mean, it could put a floor under big tech if they come in as expected or three a -- even a little better. this could be a rescue for a.i. and the big techs, couldn't to it? -- couldn't it? >> i haven't heard what you said because we went in and out, and i'm assuming what you said is are they overreacting. i think they are. i think think pullback in big tech like apple, amazon, i think those are understoods for long-term investors. -- opportunities for long-term investors: you have to see what the reaction is. as long as the thesis hasn't changed on why you own it, then any pull pullback created by algos -- stuart: is so don't panic and

buy some more. >> don't panic. absolutely, you -- no, no, you shouldn't panic unless, of course, the thesis changes, something dramatic changes. if not, i think that the dislocations created are, in fact, long-term opportunities. stuart: got it. thanks very much, indeed. good to see you, kenny. see you next week. now then, let's bring tammy back n. i want to the hear about this book. @titled, "fear itself," that got my attention. >> i still have an opinion, yeah. and it comes actually from dune. kids will know it from films and from the famous book. this is an issue, it's indiana a comment, using fear to -- indiana a comment, using fear to control society. the nature of making us afraid so that we will comply. but it is a dynamic that is not natural, and the book is really showing the history. it's an indiana a comment technique -- to control societies. and the moment you realize it's not natural or organic, it

becomes not inevitable, and you can defeat. fear is supposed to be transient to alert you to something, so fear is a gift. this is about chronic fear and the use of it so that you feel like it's too dangerous to the speak up, to participate in politics or culture. you might get fired if you, oh, misgender someone or, you know, you might get shamed on social media if you have the wrong opinion. all of this moves into this dynamic. global warming, that we're all going to die unless we ban plastic straws. this gives you the mechanism with which how to defeat that. the next few months, as you've noted, we're going to have more fear mongering with politics and, of course, it's an enduring issue, so i hope everybody picks it up. stuart: exposing the left's mind-killing agenda. i like that. tammy, see you later. >> my pleasure. stuart: police say they were assaulted by the anti-israel mob in d.c. the police union, the union chief, he claims they were badly

understaffed. we have a report. vice president harris turning to reality tv to convince people to vote. watch this. >> so please make sure your voice is heard this november and register to vote at vote.gov. >> can i get an amen? >> amen! >> now on with the show. >> and remember, you better vote. stuart: okay. young people that i know can't decide if that's cool or cringe-worthy. we'll let you decide. plus, harris finally met with benjamin netanyahu after blowing off his address to congress. she told him it's time to get the hostage deal done. lucas tomlinson has the report from the white house next. ♪ ♪ (husband) we just want to have enough money for retirement. (wife) and travel to visit our grandchildren. (fisher investments) i understand. that's why at fisher investments we start by getting to know each other. so i can learn about your family, lifestyle, goals and needs, allowing us to tailor your portfolio. (wife) what about commission-based products?

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stuart: oh, don't you like to see it? a friday morning and plenty of green on your screen. dow up maybe 240 to. nasdaq up about 1700 points. big -- 170 topoints. big tech having a good run, all of them up. microsoft, apple, meta, amazon on the upside. vice president harris met with president netanyahu yesterday. lucas tomlinson joins me from the white house. lucas, how did the harris-netanyahu meeting go? >> reporter: well, it's a matter of some debate, stuart. from the the israeli camp, they thought some of her remarks perhaps could be a sign she's going to be more critical than president biden. what's also notable is this new new york times/city yen that that poll which shows a virtual dead heat between former president donald trump is and vice president harris. she says she wants trump to honor this agreement for september 10 on abc. of course, the president saying those terms were a bit different, that was with

president biden. but back to the visit here at the white house, israeli prime minister benjamin netanyahu arrived here for separate meetings, it's the notable, stuart, with president biden and vice president harris, and now that that harris has the endorsement of the obamas getting her nomination to be all but with assured, perhaps we're going to see some freedom for her to show some daylight between her and biden including u.s. policy toward israel. here's more from the vice president yesterday. >> i have had an unwe'ring concern unwavering commitment to the existence of the state of israel, to to its security and to the people of israel. what has a happened in gaza over the past nine months is delaware state thing. we cannot allow -- devastating. we cannot allow ourselves to become numb to the suffering, and i will not be silent. >> reporter: it's not likely harris was talking about israeli suffering. harris also read the names of all eight israeli-american citizens still being held hostage in gaza, three confirmed dead. according to axios, israeli

officials are irked about harris after hearing her comments because they think harris could be more critical than bide when its to u.s.-israel policy. here's the headline which says, quote: netanyahu irked by critical harris comments. now, an aide to the vice president responded to that report saying, quote, i don't know what they're talking about. president biden and vice president harris delivered the same message in their private meetings to prime minister netanyahu. it's time to get the is ceasefire and and hostage deal done, and this is what the vice president said publicly as well. now it's a busy week here in the united states for the israeli prime minister, benjamin netanyahu will meet with former president donald trump at his mar-a-lago estate. stuart? stuart: thanks very much, indeed. take a look at this. it's an op-ed in the "wall street journal." if republicans don't win, get ready for a tax hike. former pennsylvania senator pat toomey wrote that, and he joins me now. sir, how big of a tax hike should we expect if harris wins? >> well, stuart, it depends on

whether the democrats were to sweep, if they were to take the white house and beth houses of congress. both houses of congress. we're in for a very, very large tax increase. first of all, because the democrats in the senate didn't want to work with us in 2017, a whole number of the provisions prosecute 2017 tax reform -- from the 207 tax reform expire. higher individual rates, more inheritance subject to the death tax, means the end to the he's count for small businesses -- to the discount for small businesses, but that's just the expiring provisions of the 2017 reform. as you know, ideas that were once limited to the radical left have become more mainstream, ideas like a wealth tax, ideas like taxing unrealized gains, much higher capital gains tax. so if there's a sweep, then it's entirely up to the them. they could do whatever they like, and i'm afraid there would

be a wide range of very big tax increases. stuart: could those tax increases be stopped if the republicans keep control of the house and have a greater majority? would that stymy the tax -- >> yes. these new tax increases that the democrats would like to inflict on our economy can be blocked if republicans have either house of congress or, of course, the white house. the democrats would need a sweep to enact their most ambitious tax increases. however, the provisions of the 0217 -- 20217 tax reform that expire, that's going to to require affirmative legislation to extend those. so if there's divided government, there'll be negotiation over which things get extended ask under what circumstances. so we're in for a potentially dicey situation. stuart: we're in for a bumpy ride. we consider ourselves warned by you. harris is reportedly considering

pennsylvania governor josh shapiro as a running mate. if that were to happen, would that ensure pennsylvania goes for harris? >> no, it certainly would not ensure that at all. it might marginally improve her chances in pennsylvania but, you know, people are usually voting for the top of the ticket, not the vice president. i think the more important question is whether or not kamala harris decides to sort of moderate her image by selecting someone who's from the sort of mainstream of the democratic party as opposed to the san francisco, far-left fringe that she's this from. -- that she's from. josh shapiro could serve that purpose. he's kind of a main steam democrat, not a radical, left-wing democrat. but it's very unclear what kamala harris wishes to do. but there's no pick that she can make that guarantees her or a state like pennsylvania. stuart: got it. pat toomey, former senator, i refer to you as mr. senator, i think that's okay. >> you can call me pat. [laughter] stuart: i'm not that familiar,

you know? i'm an englishman, kind of standoffish. pat, great to have you on the show. [laughter] see you again soon. >> thanks, stuart. stuart: kamala harris just released her first campaign ad as presumptive democrat nominee. i guess she's appealing to young voters? lydia: certainly trying. this is her attempt at a rebranding, you know? she's trying again in this ad. she's leaning on the help of beyonce, using a popular song from the if 2016 album, the song called freedom, and overall this ad is trying to contrast her from trump saying she's the choice of freedom, trump is the choice of hate and fear. you'll see images throughout this ad of trump's mug shot, headlines about his new york conviction. so here, you know, she's not talking about the issues. and as a you mentioned, she's clearly making this pitch to younger voters and, in fact, today she's going to appear in a taped season finale of a show called rupaul's drag race.

watch here. >> we are all in this together, and your vote is your power. so please make sure your voice is heard this november and register to vote at vote.gov. >> can i get an amen? and remember, you better vote. lydia: okay. well, i've never seen this show, but apparently young people watch this show, stuart. i can't tell you much about it from personal experience, but i can can tell you it's airing today. she apparently taped this weeks ago, maybe before she even knew she was going to be making a bid for the presidency, which i think is very interesting. but throughout this whole clip, it seems like they're trying to appeal to identity politics, kind of saying your right to be you is under threat. vote for me. stuart: i think that's what her candidacy is all about, identity. lydia, thanks very much, indeed. quick check of futures friday morning, a bit of green there. nasdaq's up 176. dow's up 200.

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stuart: couple of minutes before the market opens, it looks like we open higher. dow up 2020, nasdaq up 173 -- dow up 200. google is down 5% this week. mark a mahaney, are they still your top stock pick? >> yes, they are. the stock's off because of disappointing earnings results, and you've got more direct competition from chatgpt. there's a report they're going to roll out search gpt. i'll stick with google though. i think valuation's highly reasonable at 20 the times earnings. i think there's still an underappreciated product cycle here. i think google search has become materially better because of gen-ai. youtube continues to take market share, it's still the number one screen of choice for most if people's tv viewing. i think they also have this interesting option value off of robotaxis with their waymo asset, and i think it's a new company in terms of their financial accountability, a commitment to the operating

margin expansion, and they're paying a dividend. this is not your father's google. this is change that's more hamature, as it should be. i like the asset right now, it's my number one pick. stuart: what's your target price on alphabet? >> 2225. so we have solid -- 225. yeah. you know, we get these little moments of stocks don't always work up and to the right for you. this one was disappointing this week, but i still think it's well positioned. and just an incredible brand and distribution advantage they have in search, i think that'll carry them through. stuart: i'll take 2252 on google any day of the week. mark mama a haney, have a have a great weekend. we will open up, literally, prices will be higher at the opening bell. we've got a favorable inflation report out earlier, that's helping investor confidence, is and now the market is open and up we go. the dow has opened with a gain of 250 points, about .6%.

solid. most of the dow 30 are in the green. we've just got 5 or that are not. that's where we are now. the s&p 500 is also opening higher, what's the percentage there? better than the dow, up .66%, 35 points. the nasdaq composite, show me the percentage. that's important. .80%, and it's up 136 points. not bad at all. show me big tech. we always do at this time because that's where the money is. meta, appling amazon, up. microsoft, alphabet slightly lower. let's focus in on google. i want to bring in taylor riggs with us this morning. good morning, taylor. >> good morning. stuart: is openai challenging google? >> they are. so openai is coming out with this i in product called search gpt, eventually integrated into chatgpt, the a.i. sort of company that we all know. but when you do a search gpt, that is going to bring with you quality answers along with some of the sources.

so a lot of people are saying that sounds like a direct competitor to google which is the big search engine. a little competition may be coming soon. is. stuart: what's this about a elon musk wanting to invest literally billions into an a.i. start-up? >> and about a $5 billion, to be sure. so elon musk did a poll on twitter, and it was almost a million people who responded. two-thirds of them said, yes, go ask the tesla board if you can invest about $5 billion in xai because, remember, on the earnings call for tesla they said that a.i. can really help them achieve full self-driving which is how you get a valuation for tesla if you don't think they should be valued like a traditional car company. so people are saying maybe do it. i think the other concerns are the integration or the competition, if you have one person overseeing multiple companies and they're investing in each other, it gets a little comely candidated. stuart: yes, it certainly does. show me 3m, please. it's a big company, it's up 10%.

>> it's this industrial bellwether, right? scotch, post-its, command, the maker of all of those. this is why we like to follow the company p a read on the economy. they raised profit guidance. they've seen that they are getting increasing demand from lek -- electronics. they did a big turn-around a in the last year, they cut 10% of their work force. they're starting to see the benefits of that. stuart: what about colgate palmolive? >> also a good one we like to follow. they are reit reiterating their full-year guidance. the stock is up about 3. what was interesting, the ceo said they are seeing volume growth in every one of their categories. so they're not just getting higher prices, they're getting people like you actually buying her volume. that speaks really well for the company. stuart: okay. it's been a week or nearly a week. is the crowdstrike tech outage resolved finally? >> about 9997% resolved -- 97%. we're almost there.

remember, this has been a pretty big black eye for crowd striek. we're a week later, we're trying to get there. we need to get that extra 3%. investors want to see the stock recover. stuart: i want to know about a company named lineage. they day buyed -- debuted yesterday. they're a warehouse company, aren't they? >> they are. and it's a global, climate-controlled warehouse reit. so, rook, this was the -- looks, this was the the largest ip -- ipo of the year. a valuation of $18 billion. they were up 3% yesterday, so you got a nice little pop on the day of the ipo. today just digesting a little bit, but it's a stock that we'll follow. stuart: got it. viking therapeutics. we do follow them, and they're up about 30% just this week. [laughter] and i also know this is about a weight loss, isn't it? >>s. all the fun new companies are about a weight loss drugs, aren't they?

this was a big company, and what was the news that we're getting certainly yesterday and today more of is that they were able to bypass the mid-stage trial and just skip ask jump ahead to a state- late-stage trial. that saves you about a year. if you're interested in the stock and now you think that everything you were forecasting is pulled forward for a full year, the stock has doubled year to date, it is all the a hype o- stuart: do you happen to know if it is an injects -- >> yes. it's not a pill. we've had some companies talk about a pill. i'd prefer a pill, but that's just me. i'm not a needles person. some people are fine with it. stuart: i think a lot of people would go to it if they could just take a pill. >> totally. stuart: if you could do that, i think a lot of people would be in. with a huge market -- >> well, and they're starting to the get approved in china, and remember, you could have a big, big -- >> stuart: a pop. you could. taylor, thanks very much,

indeed. way about to just look -- i want to just look at the dow. it's now up 438 points, 442. look at that, 1% gain right off the bat on a friday morning. that's a solid performance for the dow industrials. how about the dow winners? if. >> [inaudible] >> the dow has just turned positive for the week, and those are the winners today amongst the dow 30. 3m, home depot, caterpillar, merck and visa. s&p 500 winners, charter communications, 3m if's on that list, up133% on 3m now. more if folk southern, deckers outdoor. going straight up. nasdaq winners, charter, doordash, baker hughes, come cost and a a sml -- comcast. the 10-year treasury yield, 4.20. bitcoin, $67,000. the bitcoin conference has already started. and we have ole down a little bit at a -- oil down a little bit at a 77.

nat gas, $2.0 04, and the average price for a gallon of regular, $3.51. by the way, in california social security -- it's $4.65. french trains hit with arson attacks hours before the olympics opening ceremonies. we're on it. many ev owners are having second thoughts, they reportedly want to switch back to gas-powered cars. plus, a new poll shows 39% of adults worry most or all of the time about a making ends meet. that's higher than the numbers back in the financial crisis of 2008. edward lawrence digests that report next. ♪

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stuart: we want to update you on the attack the on france's high-speed if rail system. it's paralyzing travel into paris hours before the opening ceremony for the to olympic games. 800,000 people affected including some athletes. according to the daily mail, 25% of trains headed to paris are grounded. french officials say organized groups set fire to fiber optic cables controlling signal boxes. with we don't know who did it. we'll bring you more information as we get it. on markets, the dow is up 400 4000 points. the nasdaq -- 400 points. by the way, 3m, unitedhealth and and home depot, together they're three dow stocks, they are adding 220 the points to the dow industrials, just those three stocks. we've got the fed's preferred inflation measure today, the pce came in up 2.5 in the last 12 the months.

edward lawrence at the white house. what's the administration saying about? >> reporter: they're saying they're making real progress on inflation. you know, we had the great recession, this might be the great disconnect. if you can ask president biden or vice president kamala harris, americans should feel good about their financial situation. now, when you look at the fed's favored inflation if measure, the pce inflation, what we're seeing is a sideways movement for core inflation year-over-year, month over month inflation across the board has been riding slightly from the may -- rising slightly. still, inflation spiked under this administration, sticky inflation is here, and the vice president saying the future is bright. >> we see a place where every person has the opportunity the not just to get by, but to get ahead, a future where no child has to grow up in poverty. where with every senior -- where every senior can retire with dignity. >> reporter: she believes that she's part of the greatest my in history and part of the administration that ballooned

the national department and still pushing policies like universal guaranteed incomes, what she believes in. the vice president believes in student loan bailouts, free community college, and the vice president has backed reparations for african-americans all a using taxpayer money. critics say the spending is the is the problem. >> the four years under donald trump the were some of the best years this country's ever had versus the last three and a half years. the problem kamala harris has is her words have no meaning. people are feeling it in their pocketbooks. she talks about student loan forgiveness. i mow in south carolina people are -- i know in south carolina people are furious about giving loans away from money we don't have in the treasury to pay off -- >> reporter: and a recent cn, this report poll shows 39 percent of americans are very concerned, extremely concerned or mostly concerned that their incomes will not pay the expenses that they have. stu? stuart: edward, thanks very much, indeed. let's bring in e.j. antony to

discuss this pce inflation rate. can i conclude that inflation is moderating, albeit slightly, e. e.j.? >> certainly, stu, but the inflation we continue to see is on top of the inflation that we already had. in other words, month after month if we continue to see the price levels set record highs. and that's putting a lot of pain, a lot of pressure on american families. and furthermore, at this point we're not really making progress once you exclude the volatile categories of food and energy. we had that a sideways movement if at 2.6, but we have to remember that may was also revised up on top of that. stuart: are wages keeping pace with inflation? >> if you with -- it depends on what time period you want to look at, just the last month, the last 12 months, the entirety of the current administration, for example. so more recently, wages are finally starting to outpace inflation. the problem is we just are

nowhere near catching up. that's why you have about a 44% drop in term -- 4% drop many in terms of real wages, in other words, what those wages can actually buy. stuart: you've got a new op-ed that says the left is coming for our retirement savings. explain that one, please. >> well, stu, one of the things that they want to do is to institute these higher taxes, except they want to institute them on taxes that are just -- excuse me on gains that are just paper gains. in other words, inflated equities, inflated real estate values. so, first, or they're going to institute the hidden tax of inflation and rob you that way, and and then they're going to tax you on the higher asset prices that their inflation caused. and at the end of the day, if we already had the higher tax rates that biden is and harris have proposed, if we already had those in place today, stu, people retiring would see negative returns on investment because they would be getting taxed again on paper gains that are just inflation on top of the inflation tax they're already having to pay.

stuart: last question about the wealth tax. is it constitutional? that's where you tax unrealized, on-paper profits. whether you've got the money or not. that's unconstitutional, isn't it? >> stu, i agree with you 10100 percent. i don't know how you can possibly say it is constitutional because it requires a third party to essentially make up a sign of value -- assign a value to an asset. you never actually know what an asset is truly worth until you sell it, so until that gain is realized, who's to say how much it actually is? stuart: harris loses wall street if she's going for a wealth tax. that's by opinion. ej antoni, see you again soon, i hope. thank you. >> thank you, stu. stuart: here's a trend, a new survey shows many ev owners want to spanish back -- switch back to gas-powered cars. lydia: 30% of ev owners say they would go back to gas-powered cars. isn't that surprisingsome. stuart: yeah. lydia: here's another poll from

gallup. it's actually showing that more non-ev owners, people who have not bought into the ev revolution yet saying they're not interested in buying evs at all a now. the problem? recognizing that there's a lack of infrastructure for charging, it's inadequate, and the cost to buy an ev still just too much. one example of the pullback here is ford. stuart, they expect to lose $5 billion on evs this year. the ev sales were down 37% just last quarter. the cobias city letter, one analyst points out ford loses $44,000 for every ev that it purchases. you can see here ford just down fractionally today, but on the week it's down about 24. stuart: that's a huge -- for a company like ford? lydia: yeah. stuart: that's a drop and a half. lydia, thank you. kamala harris has the endorsement of the big teachers union. how convenient that she has nothing to say to them about the problems they created like school closures. that'll be my if take, top of

the hour. the world's biggest bitcoin conference underway in nashville. donald trump is headlining. kamala harris, well or, she declined her invitation. that's not sitting well with the can crypto guys. kelly o'grady reports next. ♪ ♪ choice hotels is a family of brands that helps you get the most for your money,

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stuart: the world's largest bitcoin conference underway in nashville, tennessee. kelly o'grady is there. some big names are going to be there including donald trump. who else are we going to see, or kelly? >> >> reporter: well we're also going to hear from rfk jr., and we're going to hear a lot of friendly crypto messaging and a lot of open mind amongst attendees. forker president trump is -- former president trump is planning to emphasize his commitment to transactional freedom. and i can tell you from folks i'm talking to, that message is resonating. i mean, this conference was already a huge deal in the industry, but people are excited that a crypto is finally being taken seriously. we spoke with ark invest founder

cathie wood, and she says the committee opens -- can welcomes trump's outreach with open arms. >> i think the more he learns about it, the more he commits to it and is, therefore, going to learn about it, the more he's going to like it and become strongly in favor of it. i would like to see the government step out of the way and stay out of the way. >> reporter: and it's no surprise why candidates like trump and rfk jr. are set to make their pitch to the community weekend. it could really tip the scales come november especially in swing states. take a look at some of these numbers, they've been signing up advocates in key states like georgia. they have more than triple the vote differential in 2020 the's -- 2020's race. vice president harris was invited to speak out of fairness, but she declined that invite, and folks say it could have been a good opportunity to distance herself there if what critics call an all-out war on crypto by the biden

administration. instead, she's not showing up, and they're going to hear a very crypto-friendly message from former president trump tomorrow, stiert. stuart: i'm not surprised about that. kelly, thanks very muchn't lydia hu, do you think trump picks up votes because of the crypto -- lydia: you know, voters are splatter smart, is and they might if remember he was a skeptic, so he might are to explain what's changed his mind. but i think he's smart for doing this. stuart: there are votes available. lydia: there sure are. stuart: check those markets, please. the dow now up 546 points, nasdaq up 922. thank you very much for joining us, much obliged to you. still ahead, todd piro on the obamas' delayed endorsement of kamala harris. general jack keane will take us through the military threat from if china and russia. dr. marc siegel reacts to biden's doctor claiming the president has, quote, excellent mental a acuity. and i'll ask steve hilton what california would look like under a president kamala harris. the 10:00 hour is next.

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stuart: shake your groove finger by peaches and herb. >> are you peaches or herb? and you never heard these songs before? stuart: you know peaches and herb? >> you don't know that song? you were alive in the 60s and 70s. stuart: i was alive and kicking. good morning. it is 10:00 eastern. straight to the money. the dow is up 550 one points, that is