much, you can buy anything. >> the fed lowering rates and it'll bode well for small caps. >> these are all she's on record for is bad policies and he's a little more to the left of biden. >> the most left wing senator in the congress at the time. you'd think she'd mauve to the middle and has not done that with the choice of mr. walz. >> a guy that wants to put a surcharge on capital gains and dividends here. you want to kill investment and economic growth. that's the way to do it. >> >> that really tells you what they think about israel and the jewish people. >> i served in congress with tim walz and nancy pelosi and to suggest tim walz is the middle of america, are you kidding me? the guy is radical left. ♪ ♪ ♪ me ♪

stuart: 11:00 eastern time and tuesday, august 6 and rebounding a little bit today and not apple and they're down another $1.60 at 2007 and meta, amazon, alphabet on the upside. 10-year treasury yield going up and it's still going up. looking at 3.86%. mike murphy joining us this morning. >> i think right now the markets are part of the selloff had to do with the fact that you look at polls, stuart, it's going to

have a negative impact on the country longer term and people are ready for a change. >> t the ideals around crime and so many, one large city in this country that's safe right now and you can't come up with one. so if that's the path we're going to continue down, i think people aren't going to like it. and i'm kind of surprised by the pick. >> stuart: your position has always been stay in the market. rarely suggest selling and changing positions completely. same today? >> selling and changing of positions completely worked exactly never. so investing when you have a day

like yesterday, the biggest mistake that people make is they panic. they say it's dropping and i'm going to sell it here and buy it lower next week or next month or after the election. and that's a really hard thing to do. so staying invested down 3% on the s&p yesterday, look, people watching the show at home lost real money yesterday. i don't want to make light of that and no one wants to look at their portfolio and see it 3% lower at the end of the day. that's always happened and will continue to happen. what you can't do is panic and sell at the wrong time. here we are making up half of it already today and it's only 11:00. stuart: audience must be investors as opposed to traders in and out all the time. thank you, mike. top performer of all the stocks on s&p is ken view. listerine. lauren: they make listerine. what does that say that listerine sales up 10%. about the state of the economy? this is the name the company that was spun off from johnson &

johnson last year. and essential products is what they sell. band-aids, tylenol and need them in the medicine cabinet and better than expected sales. stuart: listerine sales up 10%? lauren: yeah. stuart: caterpillar, dow 30 stocks and that's the gain. lauren: bad news is lower sales of construction and mining equipment, but the good news and this is why the stock is up so much, higher prices and lower cost for them to manufacture some of the pieces of equipment. stuart: young brands up or down? lauren: they're up, should be almost 4%. they're pizza hut and kfc but their crown jewel is taco bell. sales rose by 5%. always have a new menu item at taco bell and it's fresh, loyalty program, you get rewards and that's how you compete when a lot of competitors are offering the fast food value meals. stuart: why are you laughing? >> no, i like the way lauren described the value proposition

for taco bell. kamala harris polling was terrible and less popular than biden. after the race and a disastrous and donald trump barely even dodged assassin bullet and a deal moved up to the top of the ticket. now the democrats face a monumental task and keeping that candidate quiet. this is a job for the back room boys and transform required and somehow or other they have to convince voters that kamala

didn't embrace a fracking ban or socialized harris has to play with a likely recession. she was not the border czar much most of the media will play along with this and they hate trump above all else. transforming kamala into a winner is a tightly managed campaign in history. she must be kept away and must not be allowed to speak unless there's a script loaded into her ever present telepromter. tonight, after formally revealing her vice presidential pick, she sets off on a seven state tour. and she'll be scripted and distance between her and anyone likely to ask a question. this is a political experiment for the president seizure disorders at stake. can tay pull it off? voters deserve more ask better.

put kamala in the top spot in a closed door back room deal, but you can't make her president if you don't let the real kamala harris stand up and tell us what she's all about. third hour of varney just getting started. ♪ ♪ stuart: jimmy failla with us this tuesday morning. how does harris paint herself as a moderate after bibbing ago very liberal guy as a running mate. >> tim walz, one of the defund the cop in the village people. this guy is out to lunch. it is not a centrist pick in any sense of the word. look at record of governance, he was a guy forcing elderly residents into nursing home withs covid patients and letting people out to riot and burn down minneapolis. that's who tim walz is. might be responsible for the only time in history a little

cesars pizza got cooked all the way. but the city was on fire. was andrew cuomo busy? same level of government and it's being done by the media. louisiana week that poll surge where she seemed to climb up ten points but that's a bad sign for you as a candidate if you have no public presence credit your poll numbers are going up. what they're telling us is this is faux mentum and it's created the perception that people are behind her from the media. if they were behind her or believed in her or her record, biden would have been forced out for two years ago. the reason he was staying in and the points where he was quitting talking in the middle of a sentence and he decided he was done, they shoe she couldn't come in his place. now, for all the political strategy money, they're doing the shaggy song it wasn't me. there was a song, went to number one and guy gets caught by his girlfriend and says it wasn't me. it one me. ban fracking? wasn't me. do more for the border?

wasn't me. it's the shaggy campaign. crazy. stuart: a video resurfaced on kamala harris celebrated wokeness. watch this. >> we have to stay woke. everybody needs to be woke. and you can talk about it if you're the wokest or woker but just stay more woke than less woke. stuart: wow. any comment, jimmy? >> there's the problem with wokeness. if people watch that clip and familiar with what wokeness is, that could be the end of her campaign because woke ultimately is an effort to find grievance everywhere and calibrates people to take sources of joy and police them for sources of grievance. if you and i were to celebrate taco tuesday and cin simonetti s celebrating wokism. now you're celebrating it for no reason. that's what wokeness is. go to the comedy club and instead of laughing you decide

whether the joke is punching up or punching down. no, just want it to be funny. do you realize under the woke guidelines that hollywood now operates under and she's speaking to this, everybody has to be woke. in the modern version of hollywood and oscars,. the god father could not win best picture unless he became god mother halfway through and made someone an offer he couldn't hear because he was deaf. leave the gun and take the kansakansacannoli, they hate gud cannoli would be from a bakery that doesn't support gay marriage. we're fighting the wrong battle stu, and that's why she's terrible. stuart: somehow or another i feel like i lost control of this program. >> it's a mess. i blame me. stuart: you know what, we're going to watch you. >> you better. stuart: we really will on fox news saturday night 10:00 p.m. eastern with jimmy failla. >> get them. stuart: good stuff. what we have coming up for you. bitcoin took a beating yesterday. it hit lower number since february. it's back on the rise today.

are the worst days of bitcoin behind us? good question. and one reporter says kamala harris honeymoon phase could be coming to an end. watch this. >> the hype coming back down to earth and entering that phase that the trump campaign is waiting for. stuart: is tim walz going to revitalize the campaign? charlie hurt on that next. ♪ (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) you can't be that different. (fisher investments) we are. we have a team of specialists not only in investing, but also also in financial and estate planning and more. (other money manager) your clients rely on you for all that? (fisher investments) yes. and as a fiduciary, we always put their interests first.

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stuart: kamala harris selected minnesota governor tim walz as her running mate. grady trimble joins us. is walz known for being even more liberal than harris? reporter: that's certainly what republicans on the ballot here in michigan are saying today. it's interesting, stu, because voters are casting their votes in a statewide primary in michigan and as they do that, they're finding out in realtime that vp harris has selected her running mate, and it doesn't really impact today's michigan statewide primary, but she will be here later in the week. she has a big rally in pennsylvania tonight kicking off that barn storming tour through all the swing states with her new running mate, governor tim walz. democrat michigan congresswoman haley stevens campaigning in a primary for herself today and catching up with her at a polling place, and she argues that walz, of minnesota, has appeal here too. >> if you look at the economy of

minnesota and the good paying jobs, the industrial presence, that's what we want as we want the midwest heartland presence and we know that minnesota has an incredible agricultural sector. we are not leaving rural areas behind. reporter: today, michigan voters are choosing which contenders will go head-to-head in november in the state's senate race. congresswoman alyssa slotkin is favored to win the democratic primary hoping to retain the seat vacated by retiring debby stabenow and on the gop side, mike ronnellers is the front runner and former congressman and fbi agent has endorsement of former president trump. one of his competitors recently dropped out of the race and he says the party is sort of clearing the way for him and coming together. by the way, stu, rogers posted about walz on x this morning calling him too radical for michigan working families.

stuart: grady trimble, thank you. cnn warns that kamala harris' hype may be dying down. >> everything in the honeymoon period might be kind of silly when looking at 401(k)s or gas prices or looking a the what it costs at the grocery store. that the hype that is kind of coming back down to earth, we might be entering that phase that the trump campaign has been waiting for. stuart: charlie hurt joining us this tuesday morning. let's get to the pick of the vice president. which voters are going to be energized by tim walz? >> that's a great question. i think clearly the pick reveal as glaring problem that we've known all along and still exists in the democrat party. this schism between pro hamas

and pro israel part of the party and this is not something that democrats were hoping that that problem would be sealed. they have that problem. what this pick actually really does reveal though is that minnesota is in play. if minnesota is in play after the last two weeks of the most unprecedented media campaign to prop kamala harris up, if minnesota is still in play, they still have a real problem, real head winds that they're going into in the election. stuart: i thought kamala harris was going to try and paint herself as more of a moderate. i don't see how she does that with tim walz as her vp. it's a left wing duo. >> yes, and he's got probably a more reasonable biography that makes him look like more of a moderate, but he's not.

this is a guy that supports driver's licenses for illegals and that's a lot of driver's licenses when you consider the number of illegals that kamala harris ushered into the country over the last four years. stuart: think a dynamic duo of leftists can win the presidential election? >> i think in any sane world, this ticket, this is the most left wing, dangerously liberal ticket america has ever seen from a major party. in a sane world, it would never happen. obviously we've gone a little bit insane over the last few years so i hate to make predictions, but i don't see it, especially considering the fact that they're running against a guy who is the least id logical, the most common sense policies that appeal to voters in both parties that we've ever seen. the only problem for donald trump is that the media despises him and the media will do anything to prop up his opponents and smear him.

stuart: i think you're absolutely right. charlie hurt, thanks for being with us today. always a pleasure. see you again soon. >> thank you. stuart: how the republicans are responding to tim walz being picked as veep. what are the democrats saying, lauren? lauren: they love it. gavin newsom call it had brilliant and walz is about doing the right thing and honor and decency and the right pick in a campaign about daylight versus darkness. hillary clinton, i'm thrilled to see walz join the democratic ticket. aoc said harris head an excellent decision and together they'll govern effectively, inclusively and boldly. amy klobuchar saying there's another great one on the way. as a veteran, high school featurer and football coach, and our minnesota governor was an incredible leader and a good friend. ilhan omar posted a picture with

walz writing congratulations to our next vice president. our north star state governor has signed universal school meals, paid family and sick leave, marijuana legalization, and protections for reproductive rights into law bringing minnesota nice to the ticket. i want to point out in minnesota with zero laws for abortions, you can have a failed abortion, that baby could be born alive and the state denies that baby care. stuart: that's in minnesota? lauren: that's in the state of minnesota. finally, barack obama released this statement, he believes that the government works to serve us not just some of us. that's what makes him an outstanding governor and that's what will make him an even better vice president. stuart: they love him. lauren: yeah. stuart: so they should. just picked him as vice president. what do they love? >> do they love him or all fall in line and say they loved hip? remember, no one loved kamala harris three weeks ago and now they all love her. stuart: they've got to win. the only way to win is to

support her no matter what. that's the way it is. have a look at markets and i want to check the price of oil today. i'm surprised it's not moving, $73 a barrel where there's always kinds of things going on in the mideast and tension to use the cliche is rising. about $73 a barrel for crude oil and maybe the world slow down is taking demand out of the oil market so the price stays stable. the big energy names, conoco phillips, chesapeake energy, they're up, exxon, bp, chevron down. now this issue bitcoin has bounced back, a little, after the brutal selloff at 56.2 right now. tell me more, ashley. ashley: yeah, i'd call this modest or muted rebound but bitcoin fell for around 4,000 but it's now bounced back to above 56,000. it was only a week ago by the way that bitcoin traded near

70,000 and ecstatic in the trump presidency and the largest crypto, a strategic asset and other digital asset moving higher and yeter recovered by about 5 -- ether recovered by about 5% and still rebounding 13% lower than 24 hours ago and now, there is this and i think it's hopeful thinking. some crypto analysts expect a quick recovery saying the selloff was panic driven and ultimately could open the door to a greater bull market as we shouldn't say in broad karating, only time will tell, stu. stuart: well, ashley, sitting right next to him we have mike murphy with a rather sour look on his face. i don't think he cares much more bitcoin and bouncing back. >> well, i'm fine with bitcoin and i'm fine with new -- any new technology. what i'm not fine with is a lot of individual investors being told that they need to own a position in some sort of

cryptocurrency and then wild swings come and i think a lot of people lose money trying to trade cryptocurrencies and where it'll go and how it helps us and how the technology will help us in the future, great. i'm all for it. but people trading it as a way to attempt to profit, i don't like and i think more people are losing money than making money doing that. stuart: never owned bitcoin or ethereum? >> never. i'm all for everyone making money but i can't invest in everything. stuart: got it. thanks, mike. housing remaining unaffordable for a long time to come, no matter what the fed does. i'll ask economist john lonski when the time might come when you'll be able to afford a first home. the rest of the market, green across the board. modest recovery from yesterday's selling. more varney after this. ♪

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how do you cashback? stuart: a modest rebound after a big loss yesterday. dow up 200. please remember it was down 1,000 yesterday.

nasdaq back up 151 points and 0.93%. murphy brought with him stock picks. uber, i own a thin sliver of uber, be careful what you say. >> good for you. earnings came out this morning and stock sold off after a big runoff and up over 7% on what i would say wasn't a good quarter, it was a great quarter. over a billion dollars in net income and use it rides on the platform on the quarter and almost 3 billion rides on the flat form. uber eats, doing great. uber transportation doing great. guidance in line keeping stock down over 70 and the report showed the consumer is still very strong, still using uber and changing the way they get food use ugg uber eat -- using uber eats. stuart: i bought in to some degree on your recommendation, but i did it because that's a global -- a

global company. with a new idea for how to use technology and transportation. that's why i was into it. >> it was a great buy and people are going on the platform. what the company needs to do is know how to monetize those people on the platform and getting almost 3 billion rides over a three monarchy period and people are copping and they'll figure other ways to generate more revenue from the people using the platform. stuart: amazon. you like it. where's it going? >> love amazon. this recent pullback from 200 down to 160. big tech got hit hard and this seems overdone. invest in amazon here and getting back to 200 for me, it'll get there for you. that's a very nice return and remember, when amazon reported earnings. they've become so big and aknow

how to create profits. stuart: they're big and good at what they do. inflation remain as top issue for voters this election. jeff flock joining us from philadelphia. reporter: stuart, they say it sucks and that's a direct quote before you get mad at me. philadelphia county was carried by president biden four years ago but 85% of the vote and that said whether democrat or republican, people we talk to all said the economy is not working for them. >> i personally feel like the economy is sucking right now. less pay, more expenses and bills going up and rent going up. it's pretty bad. >> i work three jobs to break even every month and i have a master's degree from columbia and the economy is pretty rough. >> everybody is concerned about

economic situation, i certainly 578. i think the economy, you know, in large part has done well. >> our current government has absolutely ruined everything. can't afford life. i make six figure as year, live in the city, still can't afford life. can't even afford to go out like we used to. reporter: what do you see for the future? >> well, depending on how the election goes i'm hopeful or i'm moving to ireland. reporter: didn't confirm which event challengely would make hee her move to ireland. this economy being in the dumb per plan to vote for vice president harris because they can't stomach donald trump. again, very democratic town. stuart: i knew you were going to say that, jeff. just knew it. you're all right. see you again soon. john lonski is with us this morning. he's a economist but i'm going to ask him to address the market

this morning. you're saying if we can hold on, don't sell, history will prove us right and just stay in because we'll get a bounce back. tell me about history. >> it's an experience and go to the market selloff that was precipitated by the great recession and october 2007 and march 2009. however, if you just held onto your is to be in october of 2007 and sell nothing, s&p 500 then proceeded to increase at an average annualized rate in excessive 8% if we include dividend income up till yesterday. >> that's a heck of a selloff and peak to trough in 200 and the yet you'd get average annual return in excess of 8%.

that's pretty good. stuart: moving from the stock market to the housing mark. we've got this survey, justice department pun, saying homes will stay unaffordable whether or not the fed cuts rates for a long time to come. john, when might it come time for first time home buyers to be able to buy? years? >> after the next recession. i think we'll go through a period of home price deflation. we have to bring home prices down and moreover we have to have lower mortgage yields to makousing affordable for the first time home buyer and that recession may not be that far away. i look at some of that labor market data, the recession could start as early as this october and i would imagine it's going to pop up at some point within the next 12 months. that's the first step to getting home prices lower and of course with a recession, you'll be looking at a match lower 10 year yield. i think the 10 year yield following the next recession

will go down to 2.5%, which is average. it's just the average of 2017, 2019 to jeer-year-old has to approach 3% to make housing affordable for the first time home buyer. that young lady on tv, degree from columbia and has to work three jobs. this economy is in need of a correction, and perhaps part of this correction will be a change in leadership in washington come this november. stuart: coming up, a few weeks ago seemed like if companies even mentioned ai, shares went straight up. looks like air might be coming out of oturu the ai bubble if you choose to look at the

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stuart: check out those airlines. all down yesterday because the idea we're going to a recession hurts travel and back up again this morning and several of them by percentages and juneed up #%, southwest 2%, jetblue 2%, et cetera, et cetera. they're back up a bit. show me crowd strike, please. they're face ago class action lawsuit from air travelers,

what's happening, ashley? ashley: the cybersecurity company is being sued by air travelers whose flights were delayed or canceled and class action suit is being filed in federal court in austin, texas, three fliers blame crowd strike's negligence in testing and deploying its software for the massive global outage that left passengers stranded for days. others missed work or suffered health issues from sleeping on the airport floor and they want them to pay punitive damages for anyone's whose flight was disrupted. crowd strike said in a same "we believe this lacks merit and will vigorously defend the company". stu. stuart: next, algerian boxer is at the center of the olympic boxing controversy. she was born a woman but failed

a gender eligibility test from the international boxing association and the credibility of that test is being tested. abby hornacek following all this. what do you make of the controversy? >> well, stuart, with the o limb becomes it's very scientific and it's the best athletes in the world and they go through rigorous testing and doping and medical testing and not far out of range to consider that test done by the international boxing association that found that imane khelif has xy chromosomes and on top of the conversation since lia thomas started swimming in the women's league and when it comes to a contact support, consider the safety. less less about the ideology and safety of the athletes and

thousands of boxers die in this sport and very few have been women. it kind of highlights the difference between a biological male and biological female in a contact sport. at the end of the day, everyone wants what's best for everyone, and you just want to make sure those athletes are being safe. stuart: think the olympic's rules will be changed? >> it's so hard to say and international boxing association at odds with the ioc on the testing they've done and moving farred and there's more transparency and this is e americaning. stuart: female american olympians are breaking records and number of medals are winning and gymnastic simon biles won three golds and one silver, katie ledecky one silver and one

bronze and pretty good moment for female athletes. >> that's right, stuart. i'm so proud to watch the athletes compete in paris for the u.s. and most olympic medals in history for the u.s.. it makes you swell up with so much pride for them as they drape that american flag over their shoulders and we have it on our own soil and bring them together and watch these women dominate katie ledecky put her 14th medal around her neck and simon biles around hers and i love sand volleyball and seeing them and put medals around their neck as well. stuart: don't jinx it whatever you do. >> not going to. stuart: season 7, your fox nation show called parked. now available. what was your favorite national

park you visited this season? >> don't ask me that, stuart, that's not fair. i love all of them. yosemite was a great experience and it's one of the most dangerous hikes in the country and it was 19 miles and took us about 13 hours and there's mountaineer component and hiking up the cable and scale the side of that granite cliff that has just been shaped by erosional and glacial forces and that's that was rate there you saw and i love that one and denali, rocky mountain national park ask walked with wolfs and done so many -- wolves and did so many fun activities and can't wait for people to watch. stuart: fox nation, abby horn tech, we'll be watching, park'd. president biden released a statement on kamala harris' choice of vice president that would be minnesota governor tim walz. harris made a great decision and went onto say that harris walz

kick will be a powerful voice for working people in america's great middle class and the strongest defenders of our personal freedom and democracy. time for all democrats on all americans to rally mind the harris walz ticket. that just came to us. show me the dow 30 and all red and mostly green and dow up 319 points and markets trying to bounce back and coming back just a little after suffer ago big loss yesterday and worst in two years and do we need a rate cut to move forward? i'll ask market analyst elizabeth evans next. ♪

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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. stuart: there's a rebound in progress and dow up 400 and down 1,000 yesterday and let's not forget. evans may wealth managing partner. elizabeth evans joining us now. minnesota governor tim walz is harris' pick for vice president. extremely liberal and do investors care?

>> good afternoon, stuart. more than the pick for vice president. what's more important is the fed. i would the house is on fire and the economy is slowing and the house is not on fire and the table is set for fed rate cut in september to the tune of 50 basis points, but we -- the fed has a very difficult job in achieving its jewel mandate of price stability and max employment, and i think that -- what we've seen over the last todays is how difficult that is. friday we saw non-foreign payrolls and expectations of 185,000 and unemployment at 4.3% versus 4.1% a month ago. that spooked investors but just yesterday, we saw conflicting data that services are actually expanding and that's important, stuart, because services make up

two-thirds of gdp and so again, that just shows how difficult the fed's job is and more important than who's in the white house. >> maybe going for them and they've sold off the most and nasdaq 100 is correction in the territory going for megacap tech and this is a time to buy names that it's a discount and and trading well over the 52 week highs and really a great example and lily will continue to dominate the obesity market and 18% off the 52-week high and that's can he being sore that helps heart disease and reduces hospital inflation by 37% and

that's one idea -- stuart: i'm afraid we're out of time. i apologize, elizabeth. but i'll pick up on eli lilly and very interested in 25 stock and the drug they're putting out. thank you for joining us, elizabeth. see you soon. mike, i've got a question, there's a lot of talk about ai obviously. is some of the air down to the ai balloon? >> a little bit. and nvidia and is a proxy and potential bubble and selloff at the huge runoff in you'd ya and recent selloff and 140 north of 140 down to 91 at its low yesterday. that's trading north of 100. but ai, artificial intelligence has the potential to be a game changing technology for us, for the globe in the near term and also long term. the bet as investor is it's

going to do well. so that's why you want to put your money there and so it's not a fad or something that's going to go away. will it be huge? i think it will be. but that remains to be seen. stuart: got it, mike. thank you indeed. here we go, time for the tuesday trivia question. this is so easy, what is the symbol for gold on the periodic table of elements? au, g, ba, or gd? if anybody on this set get it is wrong, you're in trouble. the answer when we come back. choose advil liqui-gels for faster, stronger and longer-lasting relief

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stuart: possibly the easiest question that we've ever had is in the trivia block. what's the symbol if for old, au, g, bu, gd. ashley, you've got to get this one. >> yeah, no pressure, stu, thanks. schoolboy chemistry, i'm going with number one, a a u. stuart: lauren:? he is correct, it's number one. stuart: murphy, you're not going to go rogue, are you? >> i am a not. i'm sticking with ashley and lauren. stuart: and me. despite the precious metal being neens gold, it's derives from the original latin worke