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tv   Varney Company  FOX Business  August 1, 2024 11:00am-12:00pm EDT

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you can do this. at truist, we believe the same is true for banking. olukai shoes bring the comfort of walking barefoot on wet sand to any journey. any moment can feel like you're stepping into the spirit of hawaii. say aloha to olukai. anywhere comfort. anywhere aloha. >> artificial intelligence is hardly artificial. it's real, it's a growth driver, and where else can you possibly find 2.5 billion people every day on one web site? >> we really do have that feeling that he is missing in action and, of course, the split screen with donald trump --
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>> we should line up all our transport aircraft, fill it full of equipment and send it to israel and tell iran, back off. >> is she going to reverse everything to try to get are reelected? she is a dangerous liberal. >> the dangerous between these two candidates could not be starker in terms of sitting down and being frank with people who are not friendly. ♪ oh, ain't she sweet? ♪ see her walking down that street. ♪ yes, i ask you -- stuart: our producers have gone back to the beatles' well. ain't she sweet is one of the very, very first records that they ever put out. this is probably 1962. lauren: i never heard this one. stuart i remember it well. lauren: they usually put the beatles when you're in a bad mood. but you're not today. [laughter] stuart: believe me, folks, it is 11:00 eastern time. all the 1st already -- august
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the 1st already, can you believe that? we've got a sea of red ink. show me big tech, please. again, there's -- no. i thought there was a lot of red there, but there's no. meta, microsoft, alphabet, amazon are all up. apple, which reports later on today, they are down just a buck. here's what's happening. the 10-year treasury yield all the way down to 3.97. maybe that's why big tech is doing well. lower interest rates usually helps big tech. i want to get back to this breaking news, very important. and it's coming to us from a senior administration official. the u.s. and and russia have agreed to a prisoner transfer, a swap, and that the prisoners are now expected to be in u.s. custody soon is. paul whelan and evan gershkovich are expected to be included in this prisoner sw. the biden presidency is winding down. our rivals and enemies are gearing up. in the last three years, russia,
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china, or iran and north korea have come together to challenge american power. they are brutal. they are aggressive. and they are united against i. -- us. russia invades ukraine for no good reason other than putin's dreams of empire. ukraine ruined. china rushes hong kong. it used to be a bastion of freedom. xi jinping threatens the same to taiwan. chinese bombers joined russian fighter jets last month if flying in formation directly at alaska. iran funds hamas which massacred israelis last october. it funds hezbollah which fires thousands of rockets into israel. it funds the houthis which tie up the mideast sea lanes and kill american soldiers. north korea? they supply russia with the ammunition it needs to destroy ukraine. america's facing a concerted global challenge. are we prepared in that's more than a military question. it's a question about a willingness to confront our brutal enemies. at this moment our leaders do
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not confront. frankly, they don't seem to understand the magnitude of the challenge. they were blind to the damage done by the debacle in afghanistan. president biden actually said it would be okay for the russians to take just a little ukrainian territory. days after he took office biden relaxed sanctions on iran handing them $100 billion worth of oil revenue, and when iranian drones killed american soldiers, he did nothing. hamas butchered israelis, took hundreds of hostages. within weeks biden was pleading for a ceasefire so israel couldn't president bush the -- crush the terrorists for good. and now our president is frail. he rarely appears in public. the danger is that our brutal enemies act now while a weakened president prepares to leave office. third hour of "varney" starts right now. ♪ ♪ stuart: general jack keane joins me now. general, is america's military
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prepared to to take on the global challenge? >> well, first of all, let me just commend you for what -- that synopsis you just provided because i think it's incredibly accurate. i've been on a congressional commission looking at the united states' defense strategy for over 18 months, and our fundamental conclusion is that we are in a period of time where the threats that you just mentioned -- china, russia, north korea and iran -- are the most serious and the most dangerous we've faced since world war ii. and the reason is they're collaborating, cooperating together. they've become considerably more aggressive, and you just gave examples of that aggression. and why is that in why are they more aggressive? because they believe there's a lack of will in the united states to confront them because we're focused inward. and we couldly -- secondly, they know full well there's been erosion of u.s. military capability, and we're not as a
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dominant a force as we used to be because we spent 20 years in the 9/11 wars, and we have not resourced the military properly since we started to wind down. so those are major issues out there facing in this president and the future president in dealing with these threats. and it's obvious, they are more aggressive. and the administration, the problem i have with it and our commission has, they won't come full clean with the american people how serious and dangerous these threats are. and i think the likely reason they're not doing that is because the american people say, well, what are you going to do about it, and that would change a lot of their political objectives in terms of how they're resourcing and spending money in terms of social programs, entitlements and other things out there. so, yes, i'm delighted you brought that up. this is the most serious issue, i believe, facing the united states, is our own security. stuart: next one, general.
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iran's khamenei has reportedly ordered a direct attack on israel because of the assassinationingses. assassinationing s. what's our role, what's america's role if happens? do they need a lot of help from us? >> well, the last time the united states organized a coalition our commander in the region, general eric coapril la, who friends central command -- who commands central command, organized largely to deal with the drones that were coming during that attack but also with some missiles themselves. and we did play an important role in supporting israel. i would assume that we would play that role again if the iranians are going to conduct an attack in kind. i think the iranians will likely make some adjustments. those drones took so many hours to get to israel, you know, because of the sheer denieses -- distances involved that we were well prepared for them and
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virtually shot down every single one of them except those that failed. so some adjustment will be made by the iranians. and, listen, they have choices here. they can bring their proxies into this as a well to support them. they can do it exclusively themselves. they can look for a target in the region or outside the region to kill dip lo hats -- diplomats, israeli diplomats in another country. the problem is that's a terrorist organization, and it usually takes months to plan manager like that with very precise intelligence. i would suspect they'll use conventional weapons here and conventional means to do something in terms of retaliation against israel. but i do believe, stuart, that israel and u.s.-led coalition will be prepared to deal with it. stuart: general, last one real fast, "wall street journal" reporter evan bear, cowits and
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marine veteran paul whelan is part of a prisoner exchange with the russians. what do you think the russians are getting? they must be getting quite a lot because those are two high profile prisoners that are coming home. >> first of all, let's credit the negotiators and diplomats involved in this. this is some of the most complex if, sensitive negotiations going in regardless of who is in power in the united states. and the thing to look at this, i mean, you can't look at it from an equal i think and fairness thing because it won't be -- equality. we're getting good people back who have done nothing wrong, and we're giving them people who are guilty of doing a whole bunch of things wrong. so it's good and bad. it's t not a fair deal. what does putin want out of this? i think he wants his guys home, you know, that that have been doing these bad things for him the show -- shore up the fact that i'm protecting you, i'm getting you home. he's dependent on his security forces around him and his elites around him to stay in power. and a war is being protract thed
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that he didn't think was going to be protracted. his economy is suffering the a certain degree -- >> i think we just lost -- >> -- so that's the issue. stuart: okay. let's just celebrate the return of two good people to the united states. general, thanks very much for being with us this morning. always a pleasure. thank you, sir. >> yeah. stuart: better get to the markets. look at 'em go down. dow's off 400. nasdaq's down 192 points. at the same time, we've got interest rates on the 10-year treasury falling well below 4. lou basenese joining me this morning and staying for the hour. can you explain that? interest rates down and the market down. >> big reversal here. someone pulled the fire alarm on the economy, and it came in the form of the ism manufacturers' index. second month in a row it ticked down. the key here is 50. above 50 is the economy's expanding and below is contracting. now people are starting to get concerned that the economy's rolling over which is going to force the fed's hand.
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treasury yields, obviously, bond prices. if yields go down, people are buying bonds, that's what we're seeing. they're run to safety, taking advantage of those higher yields. stuart: what have you got? lauren: the jobs report to tie -- the manufacturing report to tie into the jobs report tomorrow. the employment component in that manufacturing report -- >> and this is the biggest thing. the jobs market, it can roll over very quickly, and that is the concern. whereas we see other indications of inflation in the economy are a little bit slower to respond if, jobs and layoffs, the may boar -- labor market can move on a dime. stuart: amazon and apple after the close today. >> amazon, focus on the consumer. let's see where the spending is. with this manufacturing report, focus on that. let's focus on the economy component. apple, this is an in-between. it's all about what's coming next with the iphone launch. i'd focus on how much are they spending on generative a.i. because that's what a matters. stuart: lou, thanks very much, indeed.
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quick look at c.h. robinson. it's up -- what do they do in. lauren: they're a logistics company. they move product, right in it's a bellwether for the economy. this is the biggest increase since 2007, making them, obviously, number one on the s&p. they're up not because the economy is in great shape and there's great demand, they're up because they're cutting costs. and with that they did get an upgrade to the equivalent of buy at a jpmorgan, so nice gain. stuart: what about shake shack? lauren: strong same-store sales. if shake shack up 17%. they do expect to the to achieve positive free cash flow this year. that would be the first time in seven years. they've got a relatively new ceo who's trying to make the lines a lot shorter so when you go in, you can place your own order. stuart: economy's slowing -- lauren: they're expensive now. take a family of five, it's, like, conclude 100. stuart: is it really? lauren: yes. >> my son goes way too much. [laughter] stuart: today j.d. vance is
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doing something kamala harris hasn't done in a a very long time, he's visiting the border. we've got a report from arizona. harris says she's ready to put her record up against trump in a debate. listen to how trump responded. >> this, she's got one of the worst records anywhere. well, kamala, let's go! challenge accepted. are you ready? stuart: if these two go head to head on the issue, is that a win for trump in mark thesing -- marc thiessen here to the tell us more after this. ♪ are you ready? , are you ready ♪
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stuart: the markets, some concern over the economy. we've got a downside move in manufacturing activity. the dow's off 400, the nasdaq's down 165. the 10-year treasury though, there's good news there. it's below 4% even, not seen that for a long time, 3.99%. lou basenese, did the fed wait too long before cutting rates? is that why the market's down -- >> that's the fear that's manifesting right now. everyone was worried that jerome powell could stick the landing on a soft landing for the economy. the u.s. gymnasts for gold, they did it, i don't know that anyone has confidence. if this economic data keeps coming in weak, it's going to be an indication that powell needs to cut more aggressively. stuart: ouch. j.d. vance is at the southern border today. it's his first visit as the republican nominee for vice president. alicia acuna is in tucson. what is on vance's agenda? >> reporter: well, hi, stuart. j.d. vance specifically picked the tucson sector along the
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border because it is the busiest for the cbp. we can take a look at those cbp numbers right now. especially when you're talking about encounters in fiscal year 2024, close to a third of the more than 1.4 million along this section of of-mexico border -- of the u.s.-mexico border. vance arriving last night for a rally using the stop to focus attention on what the trump-vance campaign calls the biden-harris administration's failures and placing blame scary at the feet of the -- squarely at the feet of the presumptive democratic nominee. >> her record of disaster is clear. 500,000 kids have been trafficked by the mexican drug cartels because of her policies. hundreds of thousands of our citizens are dead from fentanyl overdoses because of her policies. >> reporter: now, tucson is also home to vance's potential rival, democratic senator mark kelly, currently on the short list in the harris veepstakes.
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he has accused former president trump of killing a bill on immigration earlier this year. he called vance's border visit a photo op. >> they don't actually want to solve this problem, they just want to talk about the it. and that's why his running mate, j.d. vance, is down at the border, to take a picture. >> reporter: a kelly pick for vp would signal harris' need to shore up support on one of the most important issues for voters. "the wall street journal" reporting, quote, it is kelly's experience running successfully to the center in a border state and in particular his willingness the buck his party on immigration issues that allies of vice president harris said has helped him stand out among possible picks. a recent "wall street journal" poll shows voters trust former president trump over harris to handle immigration by 13 points. so things are still underway right now at the border with senator vance, stuart, and we're going to bring those image as and all of the interviews and
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sound as it comes in. back to you. stuart: we'll be watching. thanks very much, indeed. trump say says ready to debate harris. take a listen. >> in one of the most astoundingly phony moments in her speech last night, kamala harris bragged that, quote, i will proudly put my record against donald trump's any day of the week. i will put it against donald trump -- [inaudible conversations] this, got one of the worst records in -- anywhere. well, kamala, let's go! challenge accepted. are you ready? stuart: well, look who's here, marc thiessen, with a big smile on his face. if trump stays on policy in the debate, does he win? but if trump goes towards race and gender, does he lose? >> yes to both questions. look, she wants to put her record up against his in let's look at her record. as a senator, according to gov track which is a nonpartisan
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government watchdog, she was the furthest left of all 100 senators for two years in a row, 2019 and 2020, when she was being judged, and she cosponsored the fewest bipartisan bills of any senator in the entire senate. so she was a left-wing partisan hack as a senator. let's look at her record as a candidate running in 2019. she proposed $46 trillion in new spending. let me -- that's trillion with a t, 46. that is the largest amount of spending ever proposed by a presidential candidate in history. she proposed getting rid of the the filibuster, she wants to pass medicare for all. she supports open borders, giving illegal migrants free health care and decriminalizing illegal border crossings. of she was the most radical presidential candidate in our nation's history and then as a president -- i mean, as vice president her administration, she was the border czar, and she presided over the worst border crisis in american history. and the other issue, the two most important issues for voters
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which are the border, which she presided over that disaster, and inflation. she cast the deciding vote for the $1.7 trillion covid spending bill that even larry summers and democratic economists warned would unleash the worst inflation in four decades, and it did. so she wants to put that record up against donald trump, let's have it at it. i'd love to see that debate. stuart: but in the debate, kamala harris will try to get under trump's skin by raising race and gender. she'll try to provoke him. he could lose if that's -- do you think he could lose a debate if he goes that way? >> oh, so 100%. it depends which donald trump shows up at the debate. a single debate can lose you an election just like joe biden found out a single debate can knock if you off the ticket, right in the second debate
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against biden he was incredibly disciplinedded. so if donald trump shows up as disciplined, doesn't take the bait when she tries to provoke him and focuses on his record and presents a, presents to -- there are millions of americans who liked his policies. they don't like biden-harris, but they're not sure about him. he present ifs himself in a way that people can see him in the oval office, then he'll do well. but if he goes after her -- if he behaves the the way he did at that black journalist event the other day, he could lose it. stuart: marc thiessen, good stuff. see you again soon, marc. >> thank you. stuart: let's get back to the the money and the markets and take a looked at biogen. the company's walked away from a deal with demalley therapeutics on alzheimer's program leaving a large hole in its revenue stream. that's why it's down 1.7%. look at the biggest losers on the dow. it is, after all a, down 500 points. there are some big losers there. boeing'soff 5.
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cater pillar down almost 4%. chevron, 3.5%. intel is down 2.7% and travelers down 32.35%. -- 2.35%. lots of losses there. coming up, the alleged mastermind behind the 9/11 terror attacks got a plea deal. what's with that? senator markwayne mullin will deal with it. kamala harris has been flip-flopping on the issue of fracking. at one point she wanted to ban it. now she's walked that back entirely. a pennsylvania petroleum engineer -- remember, fracking's big in pennsylvania -- an engineer in the petroleum business responds next. ♪ energy, energy, taking all of my energy ♪
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stuart: on the markets, still plenty of red ink. a lot of it. down 4900 on the dow -- 490 on the dow, down 184 on the nasdaq. concerns that the economy really is slowing down and the fed has waited too long to cut rates. with me now, lou basenese who has a big stock pick, and that is arm holdings. you picked a stock that's down
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15 percent -- >> yeah, it's getting taken out to the wood shed, and this happened in april when there was weak guidance on the chip sector. arm just reported earnings yesterday and blew out expectations. 39% revenue growth on, go figure, demand for a.i. i think this is an overreaction by investors because they issued a little bit of soft guidance factor next quarter -- stuart: don't they get royalties for the chips they make -- >> perpetual royalties. once you put a chip into design and into production, it's in production for years, so it's got royalties of anywhere from 2-4%. this is a great economic business model akin to apple, just churning out -- stuart: that's a buying opportunity? >> i believe it is. do your own research. know your risk tolerance but, for me, this is another buy the dip. stuart: another bottom fisher. [laughter] thanks, lou. senators taking action a against solar panes -- companies with ties to chime that. ashley, what are they doing?
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ashley: yeah. democrat senator sherrod brown who's facing a tough re-election contest in ohio introducing a bill that says any solar company with ties to china and other foreign adversaries would be barred from getting a tax credit. it is meant to bolster domestic energy production. ohio, a rust belt state with deep manufacturing roots, went for trump, by the way, in both 2016 and 2020. brown says american taxpayers' dollars should not be used to subsidize foreign companies, but supporters of the tax credit say, you know what? the factories create jobs and other economic benefits for america regardless of their foreign ties. by the way, a similar proposal could be taken up by the us house next month. all about politics, i think. stu. stuart: i think you're right. thanks, ash. we're on flip flop watch on this show. a few years ago kamala harris supported a ban on fracking. today she no longer supports the
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ban. pennsylvania petroleum engineer sarah phillips joins me now. sarah, do you believe she now really wants to allow fracking? >> absolutely not. so since day one kamala harris and president biden have declared war on the oil and gas industry, and her stance on banning fracking ignores three things. so the first thing that she ignores is the science. the epa declared in 2016 that high controllic fracturing is safe -- hydraulic fracturing is safe. the second thing she ignores are the benefits. fracking has allowed the united states to become energy independent and also the world leaders in emission reductions due to unleashing natural gas. and when you think of oil and gas, most people think of powering their cars or heating their homes, but what they don't realize are the four modern pillars of our -- the four pillars of our modern world with; cement, steel is,
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plastics, fertilizers. they are all derivatives of oil and gas. so your cell phone, your laptop, your water bottle, medical supplies, they're all a made from oil and gas. so your grocery bill sometimes doubling since 2019 or the gasoline prices are up 46%, it's not a coincidence. it is a direct implication on joe biden and kamala harris' war on oil and gas. stuart: that's the problem -- >> and the third thing -- stuart: hold on, it is, indeed, a war of all fossil fuels. it's a religious. to the left -- >> it is, yes, i would say that. stuart: -- get rid of it all. even if it's beneficial like nat gas, you've bot to get rid of it all. i don't think they'll retreat from that position. >> i don't think that it's possible. stuart: okay. i'm sorry i cut you short there, but i've got so much news happening today. you know, this is an extraordinary news period, isn't it? everything happens every single day. hard to keep in touch with it.
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sarah, more time for you next time around. come back soon, okay? >> okay. sounds good. thank you very much. stuart: thank you. trumps has returned to pennsylvania for the first time since the attempted assassination. what do voters have to say about his return in. lauren: oh, some of them traveled from hours and hours away to feel the energy. watch here. >> the country needs to get back to the way it was. our economy, just the way of living, the cost of living, and i think he could really help bring that back. >> tired of paying an arm and a leg for everything. >> we live two hours away. we came down here just to feel the energy and hear him speak. number one issue, the economy. for sure. like, we work too hard to get ahead, and it was ripped away. we were coming either way. just a little bit more pumped today. lauren: all right. the economy is their big issue. i want to point out very large law enforcement presence in harrisburg. you had the secret service, the capitol prison -- police, the
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tsa and, yeah, for the first time in pennsylvania trump took aim at kamala harris. and, of course, her past comments on frack. stuart: okay. let me get back to breaking news. we can now report that evan gershkovich is free. that is according to "the wall street journal." there's an announcement earlier this morning that there was a prisoner exchange. marine veteran paul whelan and evan gershkovich have been released in an exchange of prisoners. wonderful news. and now this, an olympic boxer deemed to have male chromosomes just won a first round in the olympics facing a female opponent. the female opponent quit just 46 seconds into the match. finish how about that? if. big tech has been in the spotlight this week. amazon and apple are on deck for tonight. a tech analyst says he still sees understoods with these tech giants -- opportunities with
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these tech giants. he'll tell us why next. ♪ somebody save me ♪ it's pods biggest sale of the summer is extended. save up to 25% on moving and storage until august 12 and see why pods has been trusted with over 6 million moves. but don't wait, use promo code big25 to save. visit pods.com today.
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stuart: breaking moments ago, evan gershkovich and paul whelan are free, that's according to the "wall street journal." edward lawrence joins me now from the white house. tell me more, edward. >> reporter: yeah. this is now, we can say that evan gershkovich and paul whelan are free, they're wheels up. this swap happened with russia and eight a other countries. we're talking about a number of countries being related to this. i'm getting the facts straight here, this is a lot. we're talking about dozens of people here, 16 people held in russia being exchanged for 8 held in the u.s. germany, norway, slovenia and poland. turkey facilitated this.
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mark fogle, a big name, is not among us, but the two big names for the u.s. that are. russia will get eight of its citizens back from those various or areas. this swap took a lot of deal making in the process. there was a lot of working behind the scenes to this. we had to work with german officials, again, 12 german nationals coming back, 3 u.s. citizens, 1 legal permanent citizen. so in addition to those two that are on the screen there, you're also getting the russian-american journalist. and we're getting vladimir care rah her sa. again, this is a huge prisoner swap, multiple countries involved. we do understand that the president of the united states is going -- we expect him to speak about this. s this is something that he has championed going forward. we do know that this deal was complicated by the death of no voteny, the opposition -- that vatny. we know from jake sullivan, the national security adviser, that
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they did press forward after that death to try and still make this deal happen. this has been months in the making in order to get to this position. there will be criticism from capitol hill about how many people russia got, eight folks, what those folks did. they're obviously not the best of characters going back to russia. there will be some criticism there but, again, paul whelan, evan gershkovich coming back to the united states, and they are free at this moment we can report. stu, back to you. stuart: let's celebrate the return of good people. edward, thank you very much, indeed. now let's get back to the markets. a downside move for the dow, 500 points lower. the nasdaq, 265 points to the downside. now quickly, look at cryptos. we had the bitcoin, now, that's down to $63222,000 this morning -- 62,000. that's coming off the a 66, 67,000 level we've seen recently. lou basenese with me. what do you make of trump's plan for a national bitcoin stockpile? >> me thinks it must be a presidential election year --
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[laughter] appealing for votes. but here's the key though, that voting bloc is now front lines. there's enough critical mass and ownership of bitcoin, anywhere from 7-15% of the economy or the u.s. makes it meaningful. now, do i think a stockpile makes sense? i feel like it goes against the complete ethos of cryptocurrencies, to be freeom . but i'm a constructive skeptic. any type of government stockpile will put a floor on prices, so this floor that we've seen since february of about $60,000 the could be there perm mentally -- stuart: if trump wins. >> if trump wins. stuart: catch the crypto campaign, it's a special right here on fox business tomorrow night, 8 p.m. eastern on fox business. let's have a look at big tech, please. apple is down now. microsoft is down. we've got one winner and that's meta. back to $500 a share, a 5% gain today. senior research analyst dan flax is with me this morning. two big reports this afternoon
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after the bell, apple and amazon. deal with apple first, please. what are you expecting? >> i expect that we'll see continued execution on the product cycles with iphone where they're seeing some cyclical softness. really the focus is next month with the launch of iphone 16. apple intelligence which lays the foundation for a stronger cycle as we think about the next 12-24 months. i think services remains healthy and, importantly, this broader ecosystem remains vibrant. so i continue to think apple remains well positioned. stuart: okay. $219 a share as of right now. do you have a target price over the next 12 months for apple? >> i can't give you a specific target, but what i would say is that this is a company that generates over $100 billion of free cash flow annually. and so you take their iphone franchise which is durable given the conned growth in the install base -- continued growth, the services business which is approaching $100 billion, and
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you have this broadening of the growth drivers and extending into new markets. for example, wearables where i think the opportunity remains very early. and so i see significant upside over the next couple of years. stuart: how about amazon? you've got 600 seconds to deal with that. can -- 60 seconds? can you do it? [laughter] >> amazon web services, i think we'll see strong growth over the next year and that generative a.i. is an incremental driver for that. in the e-commerce business, i think we'll see continued pressure on the consumer, but what amazon is successfully doing is delivering more value with their prime offering. for example, more one-day and same-day delivery. so they're investing, i think the advertising opportunity is underappreciated, and we continue to like that name as a well. stuart: all right. dan practice -- flax sees two good reports. fingers crossed. thanks for being with us, we appreciate it. i want to get back to what i think is an extraordinary story. an olympic boxer deemed to have
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male chromosomes just won a fight at the paris olympics. to point quit. ashley, take me through it, please. ashley: yeah. the boxer frommal a jeer ya does not identify as transgender but has already failed a gender test at the world championships last year and was barred from peel competing in that competition. but she was cleared to compete in women's boxing at the olympics this year. her presence in the women's boxing event certainly becoming a divisive issue and even more so now after an opponent from italy abandoned the without less than one minute into the first round. the italian says she quit after taking a series of blows that dislodged her head career. she refused to shake hands at the end and cried in the ring before leaving. but she's not the only one, stu. there's also another boxer from taiwan who was also barred from from the world championships last year but was cleared to
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compete in the olympics this year even though tests revealed a male chromosome. back to you. stuart: yeah, outkick's riley gaines is going to be on the show. thanks very much, ash. ashley: sure. stuart: take a look at the dow 30, get a sense of the market. the dow is down 500 points, and i only see 6 or 7 winners among the dow 30. the news coming thick and fast. more "varney" after this. ♪ ♪
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stuart: this is break breaking just moments ago, evan gershkovich and paul whelan are back in u.s. custody. senator markwayne mullin, oklahoma republican, joins me now. mr. senator, 16 prisoners held in russia will be are released, 8 released from the west. that seems rather lopsided. what say you? >> stuart, it is lopsided. we've seen the negotiating deal they had with our, you know, wnba player. we literally released dr. death back the russia who this guy was, you know, a war lord and an arms trader in the illegal fashion if across the world.
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we released her -- or him for a w nba player. i'm sorry, that's not even to. i'm glad we're getting americans home, but these deals they negotiate we continue to see from the administration, they have no ability to negotiate. this would have never if happened -- we would have gotten the prisoners back with a much better deal if trump was leading it. the ones we released, stuart, i think more detail will be released, and people are going if to be upset. we all a celebrate the american, "the wall street journal," you know, got released. that's a great thing. but what do you give up for it, and does it make us a safer or more dangerous place? in this case, it's not positive for the united states. there's a reason why we were holding these individuals and the reason why the other countries were holding them too. stuart: the position we're taking on this program at this moment is let's celebrate the return of good people to the united states. moving on -- >> right. stuart: according to the pentagon, the alleged mastermind behind the the 9/11 attacks and two other terrorists have agreed to a plea deal almost 23 years
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after the event. they get a plea deal. why did they take so long? >> well, you know, i've been at guantanamo bay more than once. some of these prisoners i have personally metseen some of the interrogations, some of the questions. i think this is just the harris-biden administration trying to get this off their plate, you know? you've got to remember obama was trying to release all these individuals, and we were saying you don't release these individuals. there's no rehabilitating these individuals. they avoided the death penalty. my question that i haven't got answered yet was what information did we trade for a plea deal. a plea deal is meaning that you gave us information to save your life. that doesn't mean you get released from prison, you just did something to save your life. and i haven't -- i don't understand what the plea deal is yet. so before i really go out there and criticize this administration, i want to see what information we received from them and was it
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credibility. but i'm really not holding out too much hope because once again we see this administration, their inability to actually negotiate a good deal. stuart: mr. senator, thank you very much, indeed, for joining us. we'll have more on this tomorrow on the show. mac wayne musclen -- markwayne mullin, from the state of oklahoma, one of the most republican states in the nation, thanks for joining i. >> thank you. stuart: we're going to really change the pace right now. it's thursday and here's the trivia question. [laughter] where do they come up with this stuff? the where is the oldest ranch, ranch in america? montauk, new york, fort worth, texas, lynchburg, virginia, asheville, north carolina? where do they come up with that question? i don't know, but the answer will be after this. ♪ (♪)
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stuart: i thought this was a good question but obscure. before the break we asked where is the oldest ranch in america? montauk, new york, richburg, virginia, will asheville, north carolina, you are first. ashley: here's my reasoning. it would be lynchburg, virginia because it is kind of old but i
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think montauk is an outlier because what is it doing on the list so i'm going with number one, montauk. stuart: i'm with you on this. lauren: i was thinking the same thing, montauk seems the most outlier in that group. i think texas, north carolina, i wouldn't think new york or montauk. i'm going with montauk. >> reporter: i've got no reasoning. i'm going with virginia. stuart: i'm going with montauk. it seems like a trick question. montauk, deep hollow ranch, 28 anchor property founded in 1658 known as the birthplace of the american cowboy, montauk, new york, who knew? lauren: montauk, new york is the hamptons. stuart: was much further out. okay. back to the markets.
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a question, why is the market so sharply lower when interest rates are clearly coming down? >> everyone is focusing on powell being too late. the key thing is tomorrow's jobs report. we get a weaker than expect a jobs report everyone will panic, convincing date of the economy is rolling over quicker than the fed can get back at it. stuart: very soon we expect to hear from the president speaking about the prisoner swap in progress. what a show, what a day, so much happening. we are out of time but let me handed over to coast-to-coast. you have three seconds, it is yours. neil: would have preferred waiting. we are following a sudden concern on wall street that had an hour and 1/2 ago. we got a slow down on our hands, fears of a slow down that wha

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