Skip to main content

tv   Varney Company  FOX Business  August 2, 2024 11:00am-12:00pm EDT

11:00 am
>> i think this is actually more of a rough pennsylvania but again, we're getting back to a normal job market. this is normalization. >> i don't think biden should be flippant about things that happened under trump, because those were victories as well. >> we didn't get a fair and democratic election in venezuela. maduro's trying to steal the election, and the united states has to lead the way. >> we're going in for a hard landing. we thought we were doing a soft landing, now it's a hard a landing. >> i don't know if we stay flat here because i don't see a lot of firing going on. i don't think the story's over. but no question, it's a weak jobs report. >> long-term investors need to have a shopping list. they need to look around and pick some spots and look to ping quality names. >> we're seeing the results now when an administration lies to you. stuart: all right. look at this, now, that is a market selloff right there. we've got dow down 858 points.
11:01 am
extreme volatility today, but it keeps on heading further and further south. that's what's going on at the moment. excuse me. and the nas a cac is down 552 -- nasdaq -- better than 3%. hoe me big tech, please. we've got one winner, that's apple standing out. it's up 1.8%, but everything else is way, way down. especially amazon, off 1 11th. interest rates, the yield -- 11%. the yield down to 3.822 on the 0-year. in the bonder market 15 basis points is huge. 2- year treasury also a way, way down, 23 basis points. you're at 3.91% there. quickly have a look at the cryptos. no big change there. bitcoin is down at $63,000. etherium also on the downside. we've rousted adam johnson out of his office which is close by so he could offer some commentary on what's going on.
11:02 am
all right, adam, the jobs report came in very soft. the economy is clearly weakening. is that why the market's selling off? >> yes. the market is selling off a, stuart, because the narrative has changed from worrying about inflation to worrying about a reeducation. and that has happened -- recession. on wednesday chairman powell said inflation is effectively beat, and we're going to start cutting rates in september, right? if you look at the average of all of the different inflation indicators, cpi, ppi, pce, etc., you get to to about 2.6%. the fed's target is 2. great. so inflation is effective wily beaten because it was as high as a9-11. that's one piece. the second piece of the puzzle is what we got today, the jobs unemployment. unemployment -- jobs report. unemployment has moved up to 4.3%. job growth was much slower than expected so everyone's saying the fed is late to the punch, the and that's what scares people. stuart: lauren, you been digging
11:03 am
through the jobs report and came across a fascinating nugget. lauren: in the past year, foreign-born workers have increased 1.273 million jobs, an increase of that 1.2. natural born citizens lost 1.217 million jobs. that's about a even. stuart: real shift. good lord. lauren: that affects wages overall. we saw the month over month and year-over-year numbers still growing but less than expected. and the overall read orphan the situation at 114,000 jobs added was about 100,000 less than the 12- month average of 2215,000 -. stuart: so, adam, do we expect this stock market slide to continue? >> i don't, and i'll tell you why, this isn't the first day of the decline. if you go back to call it the first week of -- second week of july, stuart, we are down on nasdaq 12 the % -- 12%. it's been a 12% slide already.
11:04 am
so as ugly as a today is, it's just yet another down day. the s&p 500 is now down about 8%. so you can only take markets down so far before people eventually start to say, okay, fine, it's bad. we don't like the jobs report. maybe we need to have a conversation about recession, but stocks down, indices down that much -- and, by the way, some of my beloved tech stocks, an nvidia, a super micro, the chips in general are down 20-25%. stuart: that's huge. >> that's huge. so there comes a point where you say, yeah, okay, fine. i get it. it's ugly, it's not a perfect world. but when stocks -- when companies that are growing 25-30 percent are down 25-30% in three weeks, you buy them. it's uncomfortable to do, but you do that -- stuart: catch a falling knife? >> you could call it that. there's going to be some sort of bottoming process that happens. you never ring the bell and say, okay, that's the bottom. but there will be some, some
11:05 am
attempts to rally. some of them will fail. but this is going to be a bottoming process over the next several days. stuart: okay. we'll be watching it. adam, thanks very much, indeed. all right, folks, now this. it was a moment of joy when evan gershkovich and paul whelan stepped off the plane in america. the president and vice president were there to greet them. family members hugged their loved ones. big smiles, some tears. yes, we should all a celebrate this, and we should all be aware of how this world has changed. hostage taking is now a form of warfare. hamas took hundreds of israelis hostage a last october. they used them as a weapon to stop israel's advance in gaza. putin took evan gershkovich because he wanted a high profile western to exchange for a russian hitman who'd been jailed in germany for killing a putin opponent. china seized a canadian citizen because canadians had arrested high profile chinese executives.
11:06 am
in this game the bad guys hold all the all the a cards. they don't have to answer to voters or. they don't have to worry about consequences. their own people are intimidated. democracies are easy to exploit especially if they are seen as weak and -- as weak. that is, unfortunately, the way america is perceived today. still a superpower but led by an aging president who was forced to withdraw from his own re-election campaign. the world's closing up. how many americans will travel to russia after this? if many parts of the mideast are off limits to wary travelers. some of us are worried about hong kong and china. we celebrate the return of two good men to their homes in america, but we understand the new reality of a world where russia, china, iran and north korea are willing and able to take hostages as weapons of war. steve hilton joins me now. steve, i believe we are seen as a weak and exploitable. you're not going to contest that, are you? >> not at all. and i want to just emphasize, stuart, that of course it's
11:07 am
right that we all recognize the incredible human moment that we saw as live on with trace gallagher last night as the plane landed. we all pelt that emotion. having said that, we can be analytical as well as emotional a, and you exactly right. when you have a strong america with strong leadership, the message goes out to the world don't mess with america. when you have weak leadership, it's the exact opposite. mess with america and in the end you get what you want. and that's what we saw unfold and has been unfolding during the whole course of this biden administration, this calamitous administration. and so if you looked at the specific example, who initiated this? who took the initiative here? it wasn't biden, it wasn't harris. it was vladimir putin opinion. he initiated this because he knew he could get what he wanted. and mt. end, he was using -- in the end, he was using joe biden and kamala harris, because we're it would that she was a central part of it, using them to call up our allies to beg them to to
11:08 am
release the people he wanted out of jail with. that is a humiliation for america. and it's not just about the aging leader. i mean, that is, of course, correct. we all see that. it's worse hand that because what you have now -- than that because what you have now on the left is an ideology of appeasement. they believe that if you are nice to bad people, those people will be good. and history teaches us that it's the exact opposite. the nicer or you are to bad people, the worse they are. and that's the terrible situation we're in, and we have a dangerous world as a result. s it is time for change. stuart: steve, last month the haste campaign brought in $310 -- harris campaign brought in $310 million. i think it's a record. trump campaign raised $139 million. does harris -- how does harris explain this slowing economy three months before the election? and it's on her watch. how does she flip-flop on this? >> well, you're completely right to focus on that, stuart. this election needs to get back
11:09 am
on the substance. we've had all sorts of conversation in the last few weeks and, look, it's a new race. i understand. but the reality for the voters who are going to the make the difference in this election in those battleground states has to be made clear that with harris -- who, by the way, has absolutely zero experience or expertise in economic policy. what does she actually believe on any of these things? we don't know. we know that in her heart because that's what she was saying when she was really going for it on the national stage, she wants to croix our energy -- destroy our energy industry, we don't have an economic plan now from her. what is her response to what we're seeing today. who knows? what we do know is she's a california democrat, and all the baggage that goes with that is destructive to our economy, and that's the message that needs to be out there for the next few weeks and months. stuart: and you are still a california resident, steve hilton. you ought to do something about that -- >> we are fighting for change here, stuart. it's going to the happen.
11:10 am
[laughter] stuart: i knew you were going to say that. steve, thanks for joining us. always appreciate it. >> thanks, stu. stuart: let's get more on this market selloff. let's bring in jonathan hoenig, our friday morning guest. how do you manage on a day like this? >> well, you don't panic, stuart. look, a month ago we told you to avoid big tech. two weeks ago we said don't buy the dip, so when you see the market down 8000 to- 1,000 -- 8ing 0 -- 800-11,000 points -- 1,000 point, intel was like the the nvidia of the '90s. it traded $77 in 2000, never trade that level again. i am cautious. i'm not buying the dip unlike your previous guest with all respect to him, but i am a focused on those areas of the market that are working. value stocks in particular, stuart. philip morris is at a new 52-week high, and the bti, which is the british-american tobacco stock, is up 15 this month. focus on what's working now, and
11:11 am
it's not big tech. stuart: okay. we have one more thing to do and that is name your exotic play of the week. ands it is a real estating stock, vn if qi. vnqi. why -- >> sure. real estate's been surprisingly strong, stuart. i yarks r which attracts reits is at a new 52-week high. vnqi is international real estate. it trades lore than it did in 2010, 14 years ago. so you're not overpaying for these assets, and i think as the dollar weakens, this comes back into favor as well. and i do own it as well. stuart: okay. we'll take it. jonathan, you have a great weekend. >> thanks, stu. stuart: lauren's got -- i've really got to get more on amazon. down 10%. lauren: in other words, it's dropping two intels and hen some. they're losing concern amazon losing near $200 billion in market cap today alone after
11:12 am
e-commerce sales slowed, and their a.i. spending ramps up. stuart: nvidia is also way down again this morning. lauren: so the "financial times" is saying nvidia is in a bubble, along with many tech stocks and a.i. is, quote, overhyped with many applications not ready for prime time. it's negative commentary. stock is down, had been down before this, but it's down3.5%. stuart: i do want to see ford motor company because they're at $10 a share, down 5%. lauren: yeah. stuart: what's the problem? lauren: softer sales of suvs, of their transit vans. the headline in the detroit news, ford sales flat with consumer pocketbooks pinched. global slowdown, u.s. slowdown -- stuart: don't you own ford -- >> i own ford and nvidia, ford is now trade at less than six times earnings, close to five. five times earnings. so the s&p trade at 22, ford's
11:13 am
trading at one-quarter the value of the s&p 500? and, by the way, yielding more than 6%, and there's no danger to the dividend. plenty of cash flow. again, that is something you buy. as far as nvidia goes, i think they're going to earn $4 this year, so if it's trading at $105, it's trading at slightly over 25 times earnings. slightly more than the market, except they're doubling their earning. you can buy the market at3232 the times earnings -- 3232, you can buy the market around 20 and get 10% growth or buy nvidia at 25 and get 1000% growth, right in it's just math. stuart: i'm listening. stay there, please. i've got a lot more for you. the name name -- families of 9/11 victims furious that the alleged masterminds got a plea deal. they want to know how that was allowed to happen. j.d. vance says solving the border crisis is actually simple. listen to this. >> it is not hard to secure the southern border, you just have
11:14 am
to reimplement some common sense policies. you've got to reimplement remain in mexico. you've got to stop catch and release. stuart: art del cueto was at the border with vance, and he'll be joining us later in the show. quick check of the big board, this is a major league selloff, and we're following every minute for you. 900 points down for the dow.us "varney"ba continues after this. 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? (fisher investments) we don't sell those. we're a fiduciary, obligated to act in your best interest. (husband) so how do your management fees work? (fisher investments) we have a transparent fee, structured so we do better when you do better. at fisher investments, we're clearly different.
11:15 am
11:16 am
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.
11:17 am
with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place?
11:18 am
show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. stuart: you've got to keep an eye on the markets these days because they're moving quickly, shall we say. the dow is down 900, the s&p is down 130. that's 32. 5%, by the way -- 2.5%. and the nasdaq is down32.9%, the worst day for the nasdaq, i believe, since november. 2.9%. intel is now down 27% and at a
11:19 am
las january with, 16%. amazon is down 10%. synopsis, 3%. asml holdings way down, 9%. lauren: the worst day for the dow9 and the s&p 500 since way back, november of 2022. the broader markets' worst day since 203232, two years ago. stuart: the chipmakers have been all over the place recently. today they're down almost across the board. amk, the one winner, up 2%. nvidia's down 3%. intel is down 27% lower. the 2-year treasury, please. yields are falling rapidly. we're down to 3.91% on the 22-year treasury. 2 2-year. adam, nobody seems to be buying the dip yet. >> well, today is friday, and it's kind of tough to buy into a black hole and say, hmm, what could happen over the weekend. let's get through this, and we'll come in monday morin -- morning after we've thought
11:20 am
things. stuart: watching the news, you don't mow what's going to happen this weekend. >> no, you don't. stuart: the news travels thick and fast all the a i'm to. who knows what's going to the happen? >> what i heard this morning from two different clients is sort of emblematic of what's happened around the world right now. one of my clients called me from overseas and said just sell everything. we've had a tremendous run for the pennsylvania few years, concern fast few years, just sell everything. you're selling into a hole, fine, i've made a9 lot of money. i had another client who said, you know, we had some money in those treasuries that ma ifture next week, should we put that to work? i like the way you think. it's very, very harder to buy into a whole. -- into a hole. it tests you, it's uncomfortable, but the a nasdaq is down 11% in three weeks. this is when you buy. it's hard to do. it's so hard to do. stuart: so hard. thanks, adam. law enforcement officers across
11:21 am
the country are on high alert. i.c.e. sent out a warning that a venezuelan gang gave the green light the attack police officers. danamarie mcnicholl in west palm a beach for us. the latest, please. >> reporter: good morning, stuart. well, officials say the gang, ruthless and brazen towards authorities, even bragging about how they're not backing down the law enforcement who now because of this are on high alert. let's get to those leaked documents on a town by fox. you can -- obtained by fox. officials believe trend dog what is have given their members the green light to attack and kill police officers in denver. this information is being shared across all agencies as the gang continues grow more powerful in california, texas, chicago, new york and now throughout the florida. former nypd inspector and fox news contributor says there's a stark cultural dangerous in how the members view and interact with law enforcement here in the
11:22 am
u.s. >> venezuela, the police very casually shoot at them. and so they feel like, you know what? we're on a par with the police in terms of power and stature. and they shoot at us, so we're going to shoot at them. >> reporter: members have been tied to hundreds of crimes from assaulting nypd officers to a murder in miami. shooting two different cops in new york who were trying to arrest one of its members in june are. they engage in money laundering, gun smuggling, theft and human trafficking and are very violent and powerful inside migrant camps according to reports. and just last month the biden administration, they classified trend day agua as a transnational criminal organization which means more money and resources are going to be dedicated to catching this violent group. it's also worth noting, stuart, that vens rail la have refused deportation flights since january. stuart: danamarie, we hear you.
11:23 am
thanks very much is, indeed. now this, trump's vice president pick, j.d. vance, doesn't think fixing the border is all that complicated. >> this is not rocket science. it is not hard to secure the southern border, you just have to to reimplement some common sense policies. you've got to reimplement remain in mexico. you've got to stop catch and release. dwrowft the force the asylum seekers to stay in mexico while their claims are being adjudicated,and you've got to finish this border wall and reimplement deportations. stuart: national border patrol council vice president art del cueto joins me now. j.d. vance makes it sound very simple. it's going to take a lot of time. i mean, to build a wall or to go back to mexico, that can't be just implemented just like that. surely, we're in for a long period at the border out of control no matter what. >> well, yeah. but you've got to have the political will to do it.
11:24 am
and look, remember, just like that, at the snap of fingers from one administration to the next, we're seeing the chaos that we're seeing. day one of this administration is when we started seeing the chaos that we see today to. it's going to take time, work, political will and individuals who are going to the say, look, this is the plan and this is what we've got to implement. but it isn't rocket science because it worked tremendously under the a last administration, and it can work again. stuart: what do you think happens if kamala harris wins the election and becomes the president? if what happens at the border? >> look, we've heard it many times before that right now every state is a border state. if kamala harris wins and you've got another four years of this, then every state is going to become a chaotic state. that's the reality, because it's going to be a free-for-all. we're already seeing it with gangs and everything else that's coming across the border. the gotaways are a big deal. who two years ago people were saying, well, the gotaways aren't that big of a deal. now they are. they should have listened two
11:25 am
years ago. the reason we're having so many gang members and everything else, those are the gotaways. those are the people they have not detected when they came across into the united states. under four more years, it's going to be complete chaos. stuart: art del cueto, we consider ourselves warned. see you again soon. >> thank you for always having me. thank you. stuart: the head of the new york fire department union is ripping the government for allowing the mastermind behind the 9/11 terror attacks to avoid the death penalty. he says it's a slap in the face to the victims' families. andrew is here and, boy, is he ready to sound off. and here's the big board again, the dow down 946 points at this stage. oh. more "varney" after this. ♪ if
11:26 am
daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more... you can do this. ...you're unstoppable. (♪) wow... are you kidding me? you can do this. at truist, we believe the same is true for banking. everybody wants super straight, super white teeth. they want that hollywood white smile. new sensodyne clinical white provides 2 shades whiter teeth and 24/7 sensitivity protection. i think it's a great product. it's going to help a lot of patients.
11:27 am
11:28 am
11:29 am
stuart: all right, the tow's off 950 points, the nasdaq is down 475, 2.7%. what's with booking.com, the travel people? lauren: the travel sector is down. booking.com forecasting lower room nights growth for this current quarter, several brokerages slashing their price targets. i mean, bank of america saying booking's exposure to travel in general could deteriorate even
11:30 am
more than they're saying in a slowing economy, which it seems like we're in. stuart: earlier i saw snap if way, way, way down. where is it now? if. lauren: losing a quarter of their value today. they're seeing soft demand from advertisers, particularly consumer discretionary brands. so if you're a marketer and you're spending money, you're going dog to the big buys -- going to the big boys, meta, google, youtube. reinforcing wordilies they continue to cede business to the bigger rivals, and even those bigger rivals are down down the 22%. >> stuart, if you look at what's happening with snap that lauren just described aptly and you think about intel, same thing, down 25%, this is not just a function of people sitting around their desks and saying, health care mm, the earnings aren't what we thought, this is computers pushing the stocks down. they are shorting these stocks because they can. in a down market, you strike the weakest one. it's vicious, but that's, that's in part what we're witnessing today. it's computers taking down the
11:31 am
weak ones to make money because they can. stuart: let's have a look at some of the big tech a names that have reported over the past week. adam finish. >> yeah. stuart: -- is the a.i. rally over in apart from apple, or they're all down. >> i'll answer it in two ways. no, the a.i. rally is not over but, yes, it is taking a pause for obvious reasons. i say that because these stocks have been where everyone wanted to put money, including me. i own a lot of them, and i'm down a lot today as are my clients because i put my clients into these names. and yet, stuart, there are some very cheap a.i. stocks out there right now. i mean, celestica trading at this point about 11 or 12 times earnings, that that's amazing. super micro computer was an $11000 stock, it's now $6000. a lot of -- $1100, $600.
11:32 am
i'm not happy today, i'm losing a lot of money, and yet these are the names i want to own longer term. they will stop in here somewhere. why would you buy on a friday? come back in monday after you've talked through the weekend and figured things out, and there will be some sort of tradeable bottom. stuart: we shall see. adam, stay there, more for of -- for you later. the alleged mastermind behind the 9/11 attacks and two others have agreed to plea deals that allow them to avoid the death penalty. the new york fire department union president joins me now. andrew, your department lost a lot of people in those attacks. how do you feel about a plea deal? >> we are disgusted. we lost 343 firefighters that day, 362 since then, over 7000 new york city -- 7000 -- 700 new york city firefighters lost at the hands of these terrorists, and to to see that they will continue to live is disgusting.
11:33 am
stuart: it took 23 years to to end up with a plea deal. what's going on here? >> we would like to know what's going on. this week in lower manhattan there was a hearing for the justice against sponsored terrorism act, and we want to know that the plaintiff that they have, omar -- if these terrorists will be testifying that he was, in fact, the saudi agent. we want to know if these terrorists that were given a plea deal will be testifying to tie the saudi government to the 9/11 attacks. this was done all in the same week, the plea deal and this trial, they should have let the families of the deceased know what was going on. stuart: did you want to see the death penalty here? >> absolutely. absolutely. my -- many of my members are facing the death penalty myselfs. they will be dying. we have members in hospice, we have thousands of members that are sick, myself included. my father was a new york city police officer, passed away last year. the police department's lost
11:34 am
hundreds of members post-9/11. they continue to lose members. there's 13 2,000 people in the 9/11 health care program. all these people directly affected by these terror terrorists. and the fact that they will continue to breathe and be fed and housed by the united states government and not face the death penalty is horrendous. stuart: andrew, we appreciate it. you've got a very important message to tell, and we're glad you're here to tell it. >> thank you for having me. stuart: the chair of the house oversight committee, james comer, he sent a letter to the president about that plea deal. it says the committee is angry, disappointed about the decision. it also accuses the administration of being reluctant to to pursue full justice. comber is asking turn redacted access to the terms of the plea deal and all communications about i. now this. before evan gershkovich was released from prison, he asked the russian government for one thing. ashley, what was it?
11:35 am
ashley: he asked for an interview with president, russian president putin. it was a condition of his release, by the way, to the write an official request for presidential clemency from putin. the "wall street journal" reports that gershkovich wade that -- made that interview request at the very bottom of the letter. it's unclear if putin responded to that request or even saw the letter. more importantly, the reporter was released as part of one of the largest prisoner swaps between moscow and the west since the cold war. but to your previous story, wouldn't we lo to see how that a came about -- love to see how that came about? very interesting. stuart: yes, we would. thanks, ash. the biden administration is making one last push for a student loan bailout. they want to wipe out debt for another 25 the million people. speaking of college, nyu is about to get its first 12-year-old freshman. he's youngest person ever accepted to that university. that young man is here, and he's going to join me on set next.
11:36 am
there you go. we'll be back. ♪ ♪ you can cashback 5% on travel purchased through chase with freedom unlimited and... buy better plane seats. switch to a king suite. or book a silent retreat. silent retreat! oh! hold up! earn big with chase freedom unlimited with no annual fee. how do you cashback?
11:37 am
ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.
11:38 am
11:39 am
with dexcom g7, managing your diabetes just got easier. so, what's your glucose number right now? good thing you don't need to fingerstick. how's all that food affect your glucose? oh, the answers on your phone. what if you're heading low at night? [notifications ringing] wow, it can alert you?! and you can even track your goals. manage your diabetes with confidence with dexcom g7. the most accurate cgm. learn more at dexcom.com. it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time.
11:40 am
stuart: we're still heading south but not quite as much as a we were a few minutes ago. the dow still down 899 points, nasdaq down 2.4%, that's 423 points. let's see some bright pots, there are some, you know? look at the dow's biggest winners. apple, unitedhealth, merck, mcdonald's, johnson & johnson. they're all dow stocks, and they're all a up in a very down market. gold, there's a bright spot, it hit another record tie today -- high today. well, it did, it was more like $2460 not so long ago a, it's now $2466, still up there. the administration just announced a new plan for student loan bailouts. madison alworths us. there's going to be legal challenge, right?
11:41 am
>> reporter: oh, there will be, stuart, but some people might get their loans forgiven before the challenges go through and before they cast their votes in november. so the the education department began e-mailing borrowers yesterday who have at least one out outstanding student loan held principally to let them know about -- federally and to let them know about upcoming relief. the president saying in part, quote, my administration took another major step to cancel student debt for approximately 30 million americans by providing information on how they can take advantage of our upcoming debt relief program. borrows will be prepared to benefit swiftly once the rules are final, and those rules could be final because the negotiated rulemaking process is going to conclude in the fall. that's when we can expect legal challenges. but experts explain it might be too late. >> it seems like they are putting in the groundwork to get as many people signed up as possible so when they do finalize this probably in the fall, september, october, maybe before the the election, they
11:42 am
can start rolling it out and forgiving loans as quickly as possible. >> reporter: when it comes to how americans feel about a using taxpayer dollars to pay off student loans, a majority of voters disagree with the move. now, we know the economy is a top issue for voters, and both sides of the aisle are eager to position themselves as the party that will help make life financially easier. but we see that student loan payments are a problem for just over 40% of people while groceries, gases and utility prices are a problem for over 80 president of americans. this is -- 80%. this is just the latest move by the biden administration when it comes the student debt forgiveness. 4.8 million people have already seen $168 billion in debt canceled since the supreme court struck down president biden's initial plans. stuart? stuart: okay. we'll see. thanks. madison, you're all right. now this, academic starr will become the youngest person ever to attend nyu.
11:43 am
he is justthe 12 years old, and he's with my here in studio in new york. welcome to the program. >> thank you so much. i'm really honored to be here today, and it's one of the greatest opportunities i've ever had to be meeting you. stuart: oh -- [laughter] >> well said, sir. stuart: very well done. lauren: he wants your job. stuart: you want my job. how do you feel about a attending stool with poem -- school with people who are about 0 years older than you? if -- 10 years old. >> i've been taking senior classes since day one when i took ap calculus, so when i was 9 or 10 i was taking classes with 17 and 18-year-olds, and it wasn't honestly a challenge for maine i felt like, i think it's my school in particular probably, but the seniors at my high school were very nice, very supportive, and it was really a great experience for me. probably a better experience for me to get along with the seniors than with the freshmen, freshmen
11:44 am
and sophomores going crazy -- stuart: you don't seem the slightest bit nervous to be on the set in new york with a million people watching you. >> a little bit, honestly, but i've become good at hiding it. stuart: very good. what are you going to the major in at nyu? >> i'm double majoring in in and physics, and i'm hoping to graduate in two or three years. right now i'm taking 21 credits, i've already gathered as many credits as i can right before college through taking many ap courses as well as college courses, several colleges around new york, brooklyn college, hunter college, the city college of new york, the new york city college of technology -- stuart: okay, that's a good list, very good list. now, math geniuses generally go into high-tech writing algorithms for, you know, software company. is that where you're going? >> no, i don't really like being another cog in the machine. i want the actually make my own
11:45 am
mark. i've already done so a little bit with my channel which puts out content about math and science to inspire children around the world and help adults who are currently struggling with college-level math or physickings. stuart: which comes first, teaching and imparting knowledge or making money? >> i personally think teaching and imparting knowledge. some professors have to -- professorships pay very well, but i feel like most even, like, high school teacher jobs even if they don't pay much, just the delight even if you don't get the delight of seeing your bank account having multiple thousands of dollars, the delight of being able to impart your knowledge onto the other people is just so good. being able to see them grow and develop and seeing them give you the feedback like i loved your teaching, thank you so much, you changed my life. stuart: you're a nice guy. are you watching -- do you watch the stock market? huge sell ah going on.
11:46 am
do you watch it? >> not really. stuart: what do you do when you're not in school? >> when i'm not in school, it doesn't really matter to me -- stuart: what do you do outside school? >> i like studying especially in terms of math and fizz ins, but outside my studying and academic issues, i bike, i play chess, i play badminton from time to time. i think it's the only sport -- stuart: do you have friends of your own age? >> no, not really. it's been a long time since i've seen another 11 or 12-year-old. i've had to adapt to the environment of high school and college. so so most of the friends that i've made are 16 or 17 or 18, and they'll probably be even older -- lauren: if his plan goes, you would be a professor at 14 years old. stuart: yeah. >> i don't believe so because i plan to graduate with my bachelor's at 14, and you need a ph.d -- lauren: true. okay. that's true. >> hopefully at 16 or 17.
11:47 am
stuart: well, you seem to have overcome any nervousness about a being in new york. it was a pleasure to have you on the show. you keep in touch. >> thank you so much, stuart varney. stuart: get my name out there. [laughter] you're all right, sir. change the subject. let's get back to the markets. look at some of the publicly-traded crypto firms giving some insight into the future of the industry. this is important. ash a, what are they saying? ashley: it's not easy to follow that remarkable young man, is it? [laughter] bow tie and all. analysts say that the hostility toward the crypto industry is easing up, and a shake-up in the presidential election has certainly turned sentiment more to positive. the belief is that either trump or harris will be good news for crypto. for example, citi raising its rating, price target on coinbase citing a drop in regulatory risk. bitcoin prices, by the way, have been up around 61% year to date
11:48 am
putting the cryptoto currency on track for its second consecutive year of pretty big gains. etherium also a prices have seen impressive gains, up nearly 42. both down today in a difficult day for the market. but a growing number of crypto etfs also helping to bring in sizable investments. kevin o'leary said on the show earlier it will become the 12th sector of the s&p, so there the you have it. and by the way, prompting note for you -- programming note, catch the crypto campaign special right here on fox business tonight the at a 8 p.m. eastern, so don't miss that. stu. stuart: all right. thanks, ash. it's that time when we show you the dow 30, see the action on the big board. there's a predominance of seller,th there's a lot of red on that screen. the dow's own 871 is points. don't go anywhere, friday feedback is next. ♪ and i don't want the world to see me -- ♪ 'cuz i don't think that they'd
11:49 am
understand. ♪ when everything's made to be broken -- ♪ i just want you to know who i am ♪ and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. 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. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up?
11:50 am
it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com olukai sandals capture the feeling of stepping barefoot into wet sand. the perfect balance of instant comfort and lasting support. say aloha to olukai. anywhere comfort. anywhere aloha. (♪)
11:51 am
ryan t. writes, "moving is stressful. can you help me take one thing off of my to do list?” ugh, moving's the worst. with xfinity, you can transfer your internet in just a few taps. just a few easy moves. did somebody say “easy moves”? ♪ ♪ oh no. no, i was talking about moving your internet. this will move the internet. ♪ ♪ ooh, ooh. -let's keep it professional. professional dancers! -ok! stay connected during your move with the best in home wifi. easily transfer your services in the xfinity app. bring on the good stuff.
11:52 am
♪ ♪ stuart: what's this?
11:53 am
if american friday night? i'm into that one, for sure. that, by the way, is atlantic beach, north carolina. 5 degrees and sunny -- 85 degrees and sunny. ashley, lauren, here we go. first one comes to us from gene. trump kicks off his rallies with the same theme song, "god bless the usa." if each of you were running for president, what song would you choose for your theme song? soccer anthems not permitted. lauren? lauren: oh, you guys are not going to like this, but it would be i am woman. ♪ i am woman, here me -- hear me roar. i thought we'd have a comment. stuart: are you assuming a harris presidency? [laughter] what have you got, ashley? ashley: i would have right here, right now by fat boy slim, the infamous dj who's from brighton, my hometown to. it's very good. stuart: i would have are start me up, rolling stones. they're a lauren oh, that's a good one. stuart: this is from david, what is your favorite olympic sport?
11:54 am
women's beach volley bawl. how about you -- volleyball. how about you, ashley? [laughter] ashley: i don't know what you mean, stuart varney. i would go with -- i love track and field, and of course, i think the standout is the 100 meters, men's dash, you know? usain bolt and all that. stuart: lauren? lauren: women's gymnastics. love, love, love watching it. i don't know which is my favorite event in women's gymnastics, but i truly love watching them. stuart: all right. this is from jim, paying homage to our dancing people in the commercial breaks. if it were up to me or, i'd give emmys to your production team for their bumper music alone. they rock it every time. what was the last song that got stuck in your head? actually, it was a beatles' song is, now and then. that's the new beatle' song. it did stick in my head for a while. ashley? [laughter] ashley: it's embarrassing to admit this. st the theme song from antique
11:55 am
road show -- [laughter] i've been watching it, and, you know, it's classic. so there you go. i'm being honest. stuart: what have you got, lauren? lauren: i beat you, ashley. i can't even say this on tv, sir mix a lot, baby got back. ashley: wow, a classic. [laughter] if. stuart: what was that -- lauren: i could do the whole song. stuart: what about those people that got cast away on a desert island -- >> gilligan's island. >> a 3-hour tour. it sticks in my brain. all right, everybody. [laughter] thank you for your friday feedback. all good stuff. here is the friday trivia question. what did the first text message say? hello, i love you, mrs. neil or merry christmas? the answer when we come back. and, by the way, the 12-year-old is going to play. we'll be back. ♪ ♪
11:56 am
..
11:57 am
11:58 am
11:59 am
stuart: what did the first text message say? hello, i love you? this is neil? merry christmas? i think you should be first. what is your pick?
12:00 pm
>> i love you. stuart: what have you got? ashley: i'm not going to mess with the genius. i love you. >> i think it is this is neil. i would say this is adam. lauren: i'm going with number 4, merry christmas. stuart: i'm going with nist the patient this is neil. why would they put that? almost 32 years ago on december 3, 1992, neil pappworth sent a text message to his friend richard jarvis which it wasn't second from a phone, it was sent from a computer. thanks for being on the show. coast to coast starts now.

33 Views

info Stream Only

Uploaded by TV Archive on