let's check markets where we are nearing the highs of the morning, and the final word here. dow industrials up 304 right now. >> yeah, i think the bottom is in, but you don't need to be a hero, just find one or two of your favorite names still down 15-0, buy a little bit more. maria: all right. and we're, of course, following the road show underway with the with the two campaigns and kamala and her new running mate, tim walz. beverly. >> yeah. i think this is an opportunity for president trump to double down on policy, because the american people are simply not as far left as either vp harris or governor walz. >> today's the super bowl for item walz. they bet the the farm on him having appeal in the midwest. two statements, let's see what he does. maria: well, yeah. all we can go on is what he has a said and cone in the past. great panel, everybody. thank you so much. we'll see you again soon. thank you for joining us, "varney & company" pix it up now. stu, take it away. stuart: good morning, maria.

good morning, everyone. stock market plunge if monday, modest recovery tuesday, today we're in mild recovery mode. look at this, the dow industrials will open with a gain of maybe 300 points, the nasdaq up 250. not bad. that is modest recovery mode. bitcoin, they're coming back up a little, i'm hooking at at a 56,8. no, 57,3, that's the latest price on bitcoin. however, interest rates are moving up. the yield on 10-year treasury getting closer to 4%, you're with at 3.93 right now, and the 22-year right -- 2-year just a tad the over 4%. politics. the harris-walz team made their first joint appearance if last night. a very supportive media and the latest fox news power rankings show harris closing in on trump. but last night there was little about a policy from either harris or walz, it was mostly trump bashing. fox has dug into tim walz's record as governor of minnesota. the conclusion? he's way out there on the left.

and together, he and harris are the most left-wing team ever to to contest a presidential election. more on politics. donald trump appeared on fox this morning. he says he really wants to debate harris as soon as possible. he also said he'd had contact with tim walz before. the governor had a called the white house asking for help during the george floyd riots. waltz's house -- walz's house had been surrounded by trump supporters, and the governor wanted them out. trump obliged. a pakistani man is in custody with ties to the iranian government. he was heading to new york, allegedly, to hire hitmen to assassinate if american officials reportedly including trump. and we will keep asking, where is president biden? he's not been seen many public for a week. last night at the harris-walz rally, his name was not mentioned even once. s it is wednesday, august a 7th, 2024. "varney & company" is about to begin. ♪

♪ let's get it started in here ♪ stuart: yeah, not bad, good choice. black-eyed peas. wonderful name there. i'm afraid it's a rainy day in new york city today, so let's get on with it. we just received the latest fox news power rankings. as it stands now, trump still has an edge over harris, but the race is closer than ever. lauren, take us through it. lauren: so this is the first forecast since harris became the democratic nominee, and we have the vp pickings. ready? let's do it. trump's at 49949 percent, harris is at 47 -- 49%. where is tim walz from? nebraska. rural roots, he's putting some blue in the middle of the country. there are the four toss-up states, that's the yellow in the middle. interestingly, michigan is still in play, it is leaning democrat even though harris did not pick

josh shapiro who is jewish. harris has pulled in two of three key support groups, that's young voters and hispanics. that that's why she is polling 5 points ahead of where biden was before he dropped out. she has not made an improvement with the third key group which is black voters. bottom line, close race in a race that starts in 30 days when early voting givens. stuart: tell me again, this track was cone after a she became -- done after she became the nominee? lauren: yes. what, 17 days ago? stuart: okay, i got it. we better get to the markets this morning. i suspect we are in modest recovery mode, dow up maybe 300 at the opening bell, nasdaq up about 240. and look who's here, heather zumarraga joins us here in new york city. heather, welcome back to the to the show. we've got a nice rally here. why do you think the selloff is not yet over? >> i don't think it's over. i mean, to have just one massive selloff and down day like we did

on monday and then all of a sudden we snap right back, i mean, that's as positive sign for investors which goes to my point on monday on the phones, i told you, hey, don't try and time this market. it's not good to sell on a down day because the problem is it's not that the market won't see further if losses, it's that the average retail investor doesn't know when to get back in, stuart. stuart: of course not. but why do you think it's -- >> it's not over. stuart: why do you think it's not over? what will push it down some more? >> i think there's a lot of uncertainty surrounding the election as well. i think if you looked at the geopolitical tensions and risk in the middle east, and lauren was the only one i've mentioned, hey, as soon as harris started climbing in the polls, there was a market decline. so i don't know if that was just a coincidence and then you see is it snap back, the tim walz vp pick yesterday, maybe now the market's saying, okay, maybe harris won't win, maybe trump still has a shot. and if that was a positive sign for the markets. now, i know i may be the only

one -- call me crazy -- to connect those two, but there may be something to it. stuart: you're not the only one, i just wonder how strong the connection is. i've not heard much talk about an emergency fed rate cut. >> they were calling for it on monday. stuart: yeah, but not yesterday and not this morning. we're not going to get one, are we? >> no, and we shouldn't get one. the historically, they have their dual mandate, inflation which is running at about 2.5%, above their a target, as well as unemployment. and with unemployment at 4.2, i know it's not what the markets wanted on friday, but it's still historically low. and so if the fed were to to consistent rates, stuart, i think it had been seen as a political move especially heading into an election cycle. stuart: you're joining politics if money very successfully. stay there, heather, with me for the hour. listen to the what donald trump had to say about the vice

presidential pick. >> i can't believe it. i never thought this was going to be the one that was picked. i know him a little bit. i helped him very much during the riots because his house was surrounded by people that were waving an american flag. he called me, i said, what do you want me to do the about it? i was in the white house. he said if you would put out the word that i'm a good person, and i did, i said he's a good person, i hope everybody's good and everybody put down their flags and took them with me. and he called me back and thanked me very much. that's the only thing i ever had to do with him. he's a very liberal man and he's a shocking pick, and i could not be more thrilled. [laughter] stuart: yeah, he's thrill thed. marc thiessen joins us. does the walz pick push the democrat ticket too far to the left to win, in your opinion? >> oh, absolutely. this is the first unforced error of kamala harris' assumption of the presumptive nomination if. she is the most left-wing person ever to assume a major party

nomination, and she could have picked a centrist like josh shapiro, pennsylvania, in a must-win state. instead she went for a minnesota liberal who is more liberal than access. -- than she is. one man's socialism is another man's neighborliness. tell that to the people of venezuela. [laughter] this man is a self-admitted -- at least kamala harris claims she's not a socialist. he just committed to the whole world that he's a socialist. how do you pick a socialist as your vice president when you're the most leftist person -- stuart: you know, you're just having far too much fun on a wednesday morning -- >> well, i'm on tv with you, stuart. how can i cannot have pun? [laughter] stuart: well, we can fix that, believe me. harris and walz -- [laughter] they made their economic pitch to voters. look, it was really vague, this economic pitch, truly vague. watch this.

[applause] >> we fight for a future where we build a broad-based economy, where every american has the opportunity to own a home, to start a business and to build wealth. >> if trump gets a chance to return, he's going to pick up exactly where he left off four years ago a; raising costs on middle class family. he will repeal the the affordable care act, no doubt about a ate. [background sounds] he'll gut social security and medicare. stuart: okay. [laughter] i'm still laughing. i'm till smiling. [laughter] marc, most voters actually prefer trump on the exhibitioner don't they? >> of course they do. look, a new harris poll came out, 544% of americans approve of the job he did as a president including every age and demographic group except a majority of blacks, asian as and urban voters. of so the whole country is united in the fact that donald trump's presidency was successful particularly when it comes to the economy. for harris to say we're going to make your house affordable, you

were the deciding vote for the american rescue plan that unleashed the worst inflation in decades which then in turn forced us to raise interest rates which put a home out of reach for millions and millions of americans. they can't buy a home because of the interest rates and inflation you unleashed on the economy but, yes, you're going to make homes affordable. tell me about it. stuart: great of stuff, mark if thens. hope you've still got a job at the washington post, but i'm sure you will -- [laughter] >> they love this. stuart: lauren, i've got to -- the left clearly loves walz. i want you to zero in on aoc's reaction to the, this dynamic duo ticket. lauren: yeah. aoc is ecstatic that camilla a hearst picked a running mate more liberal than kamala harris. someone that looks like joe biden but sounds like bernie sanders. aoc is calling it a, quote, watershed moment. >> i do think that this selection of walz is kind of a, to me, fit feels like a water

shed moment. it does feel like a generational shift. and by that i mean the generation of the kinds of politics that the democratic party is starting to practice now, is a real departure from what has been practicedded in years past. lauren: departure? what kind of -- what brand of democrat politics do independents want, do swing voters want? she went more liberal than herself. [laughter] stuart: okay. i'm going to leave it right there. lauren: that's sort of the problem with both sides right now. their vp pix did not bring anybody else into the party. stuart: i see the point. heather, does the left now own the democrat party? if. >> yeah. they doubled down on the base with this pick. it was a match made many heaven because, like you said, you doesn't extend your with constituents or your pool, who's going to vote for you. it's the same concern you went

further left than you already are, and that's what they've become. they've doubled down on the radical agenda. stuart: let's not forget none of this left-wing stuff gets into reality unless -- if the republicans take the house and the senate. it's all -- they can't get left-wing stuff through, they just can't do that. >> that that's a true. but i want to hear more about their economic plan, how it impact the market especially when you have markets in the volatile swing that you've seen. what are they going to do about it? ask her how she's going to fix inflation. stuart: if i could get an interview with her, i would ask her finish. >> she won't. lauren: there is no policy on her web site. >> no economic agenda, nothing. stuart: all right. check out futures on the upside again, up 300 on the dow, up 255 on the nasdaq. coming up, j.d. vance taking harris if walz to task for being anti-law enforcement. >> and that's the summer of 2020 the riots that destroyed the city of minneapolis.

tim walz was a major support of those riots. kamala harris was the person who were bailing the rioters out of prison. stuart: hard to see how harris and walz will win over voters worried about a crime. florida congressman byron donalds with us shortly. if harris is bad for stocks, how come the market is going back as a she goes up in the polls? what former trump campaign adviser steve cortes thinks about that. steve's next. ♪ i want you the want me. ♪ i need you to need me. ♪ i'd love you to love me. ♪

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stuart: i'll call this a modest rebound, dow up 300, nasdaq up 243. that follows modest gains yesterday after the big plunge on monday. now this. the republican national committee is calling the harris-walz ticket the most far left ever. mark meredith joining us. take us through walz's record as minnesota governor, please. >> reporter: stu, good morning to you. well, you can imagine both political parties are going to the try to define walz's record in different ways. the republicans are already trying the paint a picture of this governor of minnesota saying he's a far-left, out of touch progressive, but you've got democrats insisting this is somebody that would be able to champion a second, basically, term of the biden-harris administration, be able to bring it even further. where we are, stu, is in the western part of wisconsin because today alone you're going to have vice president harris, you're going to have her running mate as well as ohio senator j.d. vance all trying to the campaign for the same vote is. these cars going by, these are the folks trying to get into

this rally later on this afternoon as the campaign is trying to to generate some enthusiasm. speaking of enthusiasm, just last night we saw harris as well as the governor really welcome a crowd of a few thousand people in philadelphia as they are the unveiling their presidential ticket. the governor making it clear he is ready not only to talk about his record, but also that of his now-to to poarnghts former president trump. >> donald trump sees the world a little differently than us. [background sounds] first of all, he doesn't know the first thing about service. [applause] he count have time for it -- doesn't have time for it because he's too busy serving himself. >> reporter: senator j.d. vance says he has reached out to walz to congratulate him on joining the incompetent. we'll wait to see if there's going to be the a debate between the two the vice presidential picks. vance also launched his own

attacks against walz while he was in philadelphia. >> they make an interesting tag team because, obvious, tim walz allowed rioters to burn down minneapolis in 2020, and kamala harris helped bail them out of jail. >> reporter: the rmc writing: kamala harris and tim walz are weak on crime, defund the police liberals who make up the most radical, far-left ticket in the history of the country. so we know how republicans are trying to frame this race, but whether or not we see a response today, stu, we will have to let you know. stuart: i wonder if there'll be a battle over crowd size. thank you very much, mark. i think so. look at this op-ed. quote, market meltdown. kamala harris vulnerable on the economy. steve cortes wrote that, and steve joins me now. you maintain that kamala harris is bad for the market. but we've got a rally today, and the market doesn't seem concerned that harris and walz are surging at this point.

how do you explain that? >> well, stuart, i would argue that the markets are, indeed, very concerned. yes, the last couple days we've seen some stabilization, but it is way prema sure or to signal that a there's an all clear for financial market. let's put this in context. for example, the crucial semiconductor, the chips sector, is down 211% from where it was -- 21% from just a few weeks ago, in july. amazon, of course, a bellwether for both the consumer side as well as technology, amazon was at $200 just a few weeks ago. right here even with this minor bounce it's only at $165 which puts it down 18. that's a stunning move for a big cat name like that in just a few weeks. and, stuart, you know that before i got full time into politics, i was a bond trader for 25 years, so i'm trying to marry both politics and money, and i firmly believe that when capital, when global cap fall the look -- capital looks at the investing accept narrow right e

now, they see a u.s. that is significantly slowing down, they see the mid east which is a powder keg right now, and they see that the the democrats have nominated and really coronated because she didn't get any votes, have nominated a marxist from california. and and, by the way, she just decided to pick a minneapolis marxist to be her number two. it doesn't spine confidence, that's for sure, and i think it is a huge driver of the i tumultuous market. stuart: just for one minute i want to zero in on energy policy. governor walz's energy policy in minnesota, he's a climate guy. is he the exact opposite on energy to trump? >> right. yes, exactly. and, by the way, look, price is truth. look at the price of energy and what it has done since harris became vice president. when she took office, a barrel of oil was $46. it's now well above $70 a barrel, and it will go even hire if she and walz get into office. and i think it's also very telling that she didn't pick shapiro, somebody who is

actually very pragmatic on energy, the very popular governor of a big energy-producing state which,, by the way, happens to be probably the most important swing state in america. stuart: yep. >> she didn't select him. that's very telling. it certainly tells us where she wants to to go on energy policy. but even beyond that, stuart, something much bigger and even more important, why would she not pick this man who probably can deliver the most important swing state? she can't pick him because he's a jew and pro-israel, and she is catering to the most radical elements of the democrat party who are anti-american, anti-israeli and anti-semitic. she is totally captured by those radicals and extremes, and that's the reality. stuart: steve cortes, you got it in come what may. thanks for joining us this morning. big day. now this. oh, i'm -- i'm not surprised to see. credit card debt has hit a new record high, well over a trillion, i guess. lauren: 1.14 trillion and climbing, and the issue is because we can't afford our

purchases, we're putting them on the credit card. we're not paying the balance. 9.1% is in delinquency, and the average apr is at a record 32 the 211%. -- 211%. you just make your minimum payment, that just racks up. stuart: not good. check futures right before the market opens, the dow looking for a 3000-point gain, 200 points for the nasdaq. 300-point gain. the opening bell is next. in and retirement savings. voya helps you choose the right amounts without over or under investing. across all your benefits and savings options. so you can feel confident in your financial choices.

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stuart: three minutes to the opening of the market, the dow shop up -- should be up about 3000. eddie ghabour joins us this morning. 300. why don't you trust this market bounce? it is a market bounce, why don't you trust it? >> stuart, i think markets are very fragile right now, and the most recent moves prove that. the boj, all they did was raise rates by a quarter point, and we almost had a global meltdown. and the only reason we're up today is they've talked back that the language and became more dovish. i don't think we're going to get this v-shaped snapback. so over the next six weeks we the do expect a bounce, and we're going to take advantage and continue the rotation that we started in july to more defensive names and to raise some cash.

at the the end of the day, you hear a lot of people saying, buy the dip, buy the dip. you need to have something to buy the dip with. so if you don't mix your rotations, you can get caught in a tough spot. stuart: i believe you're expecting a soft landing for the economy and lower inflation. if you're right ab that -- about that, surely stocks have room to go up some more by the end of the year. >> so is we believe the data over the coming weeks is going to show soft landing and convince investors that the fed is going to hit their 2% and do the soft landing, and that's going to cause the market to go up over the next several weeks as we're expecting. but ultimately, that's when the investors are going to get sucked in, and then we take the next leg down. that's what we're worried about. we don't believe over the next 12 months it'll be a soft landing. we just hi in the interim, investors will get sucked into believing that. we think the biggest risk is inflation is going to reaccelerate at the end of this year, and that is not priced in. and if that does happen, that's

when the hard a landing really starts to materialize. stuart: i hear from a lot of our viewers who have made a lot of money over many years in big tech, and they're asking me, should we sell now? what's your response to that? >> so, look, i think you can trim now as long as you are in a position to do that. if you're overweight that big cat, you should be reducing. we reduced some of our mega-cap tech in july, but with we still have our core holdings. we brought them down to minimum positions, and when we get buying opportunities, we'll move them up to maximum positions. i think you've got to be very active in this type of market because even the big names can take big hits and they will if and when we have a hard landing. stuart: eddie ghabour, thanks for being back with us, we appreciate, and we will see you again soon. getting exciting down on wall street now because this looks like bounceback territory. it's been a week so far. let's see how we open and then, say tuned, let's see how we close it, more to the point he

presses the button, the market is open, and we've opened with a dow gain of about a 260 points. that's approximately two-thirds of 1. the dow 30 showing a lot of winners there. i've just got a few losers, most of that board is green. so that's up 256 on the dow industrials. s&p 500, look at the percentage gain here, what is it? you're up% on the s&p -- 1%. that's solid stuff. the nasdaq composite a also up, i think, 11 percent. where are we? 1.5%. again, solid stuff. 250 points higher for the dow industrials. i'm sorry, for the nasdaq. let's have a look at big tech. all of them on the upside, amazon, microsoft, alphabet, meta, apple -- apple's at $207, amazon's $166. solid gains for big tech. here are the chip makers. they've been allover the place recently -- all over the place. let me sort out super micro in particular. a big drop this morning. lauren: wow. stuart: you can say that again, 14% they had a report out, i

guess it was bad. lauren: no, it was actually good. their forecast is good. the problem is the cost of making the a. i'm sorry servers that they make. that's weighing on their profitability. so if you look at their margin, they want 14-17%, they're stuck at 11% this is a big drop today, but i do want to point out this is the best perform out of the 5000 stocks in the s&p this yea. shares have more than doubleed, but they are the well off their highs. their highs were over 1200 and just a few months ago a, and they did announce a stock split. some of the a.i. buzz with as we've seen the past couple days is wearing off. stuart: is that what a it is, the a.i. buzz wearing off on super micro? >> well, the a.i. buzz will come back. it's the wave of the future. 100%, i think it will. they compete with dell and hp and, look, the a split is a good thing. fundamentally, it count change anything. psychologically, it because look

better, it's a psychological effect. looks cheap. stuart: would you buy it now? >> no, not at these levels. i'll wait for the market to drop more. stuart: all right. great to have you on the show. novo nor dis -- [laughter] what's this, weak sales of we imoaf i have? i know what it is, they got competition. lauren: they kid from eli lilly and their zepbound. they cut prices. so that's why their profit in the past quarter missed expectations. demand is absolutely not a problem. if you go to the fda web site, there's still a shortage for all of these drugs. and novo nordisk has to restrict supply of some of their doses to make sure that so and so needs, can get the amount that they need to fill how long they want to use with it for. it's europe's most valuable company. shares are up 230% in the past 3 years but, yeah, falling sharply today. stuart: just give me a pill. lauren: welsh, those are coming. stuart: i want a pill.

no shots for me. liquor or otherwise. [laughter] >> and the long-term consequences and side effects have still not been studied for the most part i mean, if everybody's using it for weight loss, what about over 50 years? stuart: okay, okay, okay -- lauren: these are not miracle drugs -- >> just eat right, exercise. which you do, you look great, stu. stuart: earnings before the bell, lyft came out. i guess that was not good. lauren: oh, wow. actually, the problem is with the forecast. the past quarter was fine. their forecast for this quarter with says a lot about a slowing economy. for the last quarter, they posted a profit. that's a big deal. active riders up 10%. all-time high because of graduations, it was pride month, a lot of excitement in many cities. but their forecast is weak for the current quarter. stuart: next case is disney. what are they doing? lauren: what a story. stuart: down. lauren: they posted their first ever profit in streaming. their movie studio, finally grinding out the billion dollar

blockbusters, think inside out 2 from pixar, and they're actually raising the price of their streaming plans, all of them, by about a $22 a month. why -- $222 a month. -- 2 a month. theme parks are responsible for more than half of their profits, and their profitability in that division, operating profit down 3% at the theme parks. that's another sign of a slowing economy. stuart: wallet disney if down to $87 a share. a couple of weeks ago it was over 1000, wasn't it? as i recall -- 100. cvs, they're down this morning. lauren: they cut their full-year forecast for i think four times recently. they're facing higher medical costs because a lot of older people who are on medicare are getting surgeries and treatments again, they're going back to the doctor after covid. hay also announced $2 billion in cost cuts. i think that might be what's helping the stock a little bit this morning. they're also down by 26% this year. stuart: yeah.

down to cents -- 30 cents. stuart: i think this was the cost cutting. shopify is off, is this a.i. at work? lauren: ooh. yeah. shopify's customers are online brands, typically smaller companies. they help them set up their e-commerce if operations, and a.i. makes that more amealing for those brands. -- appealing. a beat and a raise. revenue up 2% -- 21% in the past quarter. this would be a good sign for the economy. s i think this is a good sign for amazon too. stuart: this proves you right on a.i. in the future's going places. >> yeah, i get so -- i guess so. we just reported on the credit card delinquencies, credit card increase record highs on the debt, so consumers are still shopping. when you see a shift where spot my's going down -- spotify's going down, amazon's going down, then i think there's a problem in the broader economy, so it's a good bellwether to the watch.

stuart: airbnb, there's a stock that's down as well 4%. lauren: yeah. some of these individual names are really getting hit today, double-digit declines. airbnb has slowing domestic demand. that's hitting their forecast for this quarter, and a shorter booking window. what does that meansome travelers are saying we have enough money to to take that vacation, so they're waiting until the last minute and then booking the trip if they decide they can do it. and in the last quarter, there were good signs. i mean, they had the olympics, the euro cup in germany. so especially in europe their profits were strong, but it's the forecast that's hurting a lot of these companies today. stuart: a.i. ain't isn't -- doing much for air b if n if b, is it? >> the market will punish you on any given reason. especially this week, down 14%, they had a good quarter. it's on future guidance. you will be pun punished. 14% and they beat earnings, that's crazy.

stuart: it sure is. all right, coming up,. >>. d -- j.d. vance calling out kamala harris' liberal border policies, giving illegal migrants free health care and free food. >> what president trump and i want to do, which is lower people's grocery price, close down that border, it just really couldn't be starker than the pro-open borders, anti-police agenda of tim walz and kamala harris. stuart: all right, close down that border. former acting dhs secretary chad wolf knows firsthand how different trump's border policy was. a pakistani man with tries to iran charged with a foiled plot to carry out assassination attempts in america. dan hoffman has the latest. voters are worried about the economy, and now all eyes are on tim walz's record. economist kevin hassett on walz's economic record next. ♪ the second hand unwinds. ♪ if you're with lost, you can

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stuart: plenty of green on the screen on this wednesday morning. dow up nearly 300, nasdaq up nearly 3000, s&p up -- nearly 300. solid gains. let's go to wisconsin where j.d. vance will be holding a campaign rally just a few miles away from kamala harris and tim walz. madison alworth in eau claire, wisconsin. tell us us about these dueling events. >> reporter: absolutely, stuart. so we're in front of the facility where vance is going to speak this afternoon. it's just six is minutes away from the place where the event for harris and walz is going to be. these two campaigns are facing off. so as you mentioned, we're in eau claire. this is where harris and walz will be as well as in detroit, michigan. those two locations is also where we will find j.d. vance.

he is shadowing the pair or, in politic speak, bracketing. going to be in the exact same places, ready to counter them by being the policy attack dog of the newly-minted ticket. the pair have been a team since before the ticket became official, a team he thinks americans should disapprove of. >> governor walz actually promoted the black lives matter rioters who set minneapolis on fire, destroyed a lot of black businesses. the fact that he was supporting the rioters burning down minneapolis and kamala harris was trying to bail them out of prison suggests they're the wrong team for this country. >> reporter: despite both campaigns being in michigan and wisconsin, their events will look quite different. harris will be rallied and giving prepared speeches while vance will give speeches but also answer questions from the press, something he says the media needs to press harris to do. she has not given any sitdown interviews since biden dropped out of the race. nonetheless, she's trying to

convince badger state voters that they should elect her in november. and wisconsin is very much in play for both sides. the latest fox news presidential power rankings, these are the first that we've had since harris has risen to the top of the ticket, show that out of the most competitive states, wisconsin is a toss-up. now, vance is going to be here in eau claire speaking at 2 p.m., and then at 2:20, just 6 minutes down the road, has when harris will speak. we'll have all of it and bring it to you live, stu. stuart: dueling crowds, i'm sure, thank you, madison. economist kens hassett joins me now concern kevin hassett. it's good to see you again. i want to talk about walz's tax point as a congressman, he voted against the trump tax cuts. would you characterize him as, plain and simple, tax and spend liberal? >> he absolutely is a tax and spend liberal. in fact, he's an avowed socialist. if you listen to the what he said on that call with the comedian as, he basically said, to paraphrase, that social isism is just being a good neighbor.

i'm sorry, governor, socialism is venezuela. and the really terrifying thing is if you think of what's going on in venezuela, the violence, the empty stores, the rioting in the streets, it's exactly what you see in minnesota. and so the fact that the democrats have chosen a venezuelan socialist type person who's run a state into being almost venezuela suggests that the far left of the party has taken over. and i find that very disturbing. there's so many reasonable, moderate democrats in the senate and so on, and they're letting happen. and i think it's a very, very bad side for the country hat sort of old bill clinton, moderate democrat on economic policy wing of the party has been taken over. you know, they put joe biden in the white house and pretend thed he's a moderate, and then he kind of ran as if he was bernie sanders, now they're running bernie sanders. it's truly disturbing. stuart: in reference to socialism, i just want you to reason to governor walz's take on socialism. roll it. >> don't ever, don't ever shy away from our progressive values. one person's socialism is

another person's neighborliness. just do the damn work. stuart: i just want to point out that minnesota actually has a surplus and a very low unemployment rate, 2.9%. that's a low unemployment rate. has social isism helped minnesota? -- socialism helped minnesota? >> you know, minnesota's a very interesting state. they've got a great university, the university of minnesota, they create tech jobs in minnesota too, and, you know, they're also pockets of california, right, silicon valley where there's a boom. but the fact is if you look at his policies or they are very, very close to having the government take over everything is and to tax the heck out of people and hand money around to to their favorite friends and to their favorite projects. and so, yes, this is a person who is basically, he's endorsed by bernie sanders. and, again, go to that discussion where he said that and think about it. there's a call with, like, 100,000 people on it, and nobody speaks up and says, hey, wait a minute, we're the democratic party, we're not socialists.

nobody confronted him with this. and one other thing that's disturbing, he's the guy that a came out and told discuss after the meeting with the governors that joe biden's brain is awesome. you know, he's absolutely sharp as a tack, and he did that just, what, about a month ago -- [laughter] and now he's their vice presidential nominee. i'm just stunned by what's going on right now. stuart: kevin, you're a great guy. you've had a smile on your face as you've been beating the hell out of a minnesota socialist. that was pretty good. please come and visit us again, kevin. we love a smile. >> of course. stuart: see you later. now we know how many restaurants raised prices after california hiked the minimum wage to $20 the an hour. i would imagine almost all of them. lauren: nearly 98%. stuart: almost all of them. lauren: this study the looks at 182 restaurants in california, and 178 of them raised menu prices in april, the minimum wage law went from $16 an hour to $20 an hour, and nearly 990% of those 182 restaurants --

90% -- cut back worker' hours as a result. those are drastic numbers, and you can expect a repeat performance in 2025. nine in ten said, yeah, we're likely to increase menu prices again next year because of all this. if you're looking at the cost of the minimum wage per restaurant, two-thirds say it's at least $100,000. stuart: good lord. lauren: and some of these are mom and pop. it's a franchise. t not mcdonald's, it's a franchise of the big chain. stuart: i wish kamala harris had chosen newsom as her running mate, because he's wrecked the state of california. lauren: he came close -- she came close with walz. stuart: democrats have emerged with a youthful team, but the most important point here is the media. they're going overboard for kamala and i'm. why? because they -- and tim. because they basically just hate trump. that's my take, top of the hour. stay with us, we're keeping an eye on the rebound in the

markets. up 300 on the dow. back after this. ♪

stuart: it's day two of the national transportation safety board's hearing on the boeing door plug incident. kelly saberi joins us. kelly, what are we expecting to hear today? >> reporter: stuart, hopefully more answers. questioning started to only pick up in the afternoon yesterday after they'd gone through the basics of plane manufacturing. so i want to take you through some of the standout moments i did notice. one ntsb official pulling a quote from the investigation in which a boeing employee said planes come in jacked-up every day. then there was this -- >> can i make one suggestion? stop talking about leaner in quality and start talking about safer manufacturing. >> reporter: they also added, quote, this is not a pr campaign for boeing. that may be why the lawyer who is representing several clients including families told me he felt like the hearing lacked answers. he also noted to me that alaska

airlines did not ask enough when given the opportunity. reminder, this was an alaska airlines flight. here's what he said about how his clients are doing months later. >> for many of them, they thought that might be the end of their lives. they are dealing with the fear that lingers with them and the changed life for them. some of them are not interested in flying again. that's a big deal in this word. in this world. >> reporter: and today we're expecting to hear more from the 380000 pages of dork units that illustrate what happened in those -- documents that illustrate what happened, including one flight attendant at the back of the plane who he or she said they were certain there were fatalities once they set the eyes on the gaping hole. the pilots were not aware until the plane landed and passengers deplain planed and that's because they were having trouble hearing in the cockpit. stuart? stuart: kelly, thank you x. now

there's this, nasa will provide an where update on the two desperates -- astronauts who are suck at the international space station because of issues with boeing's starliner. boeing says the astronauts can come home, nasa wants more time to analyze. bottom line, they're stuck. look at the markets, this is a rebound. nicely so too, up 360 now for the dow, and the nasdaq is up 286 points. i just want to thank hester -- heather for being on the show, come back soon. >> thank, stu. stuart: love to have you. former acting k the health care s secretary chad wolf, will tim walz bring his liberal policies to the border? dan hoffman on the pakistani man with ties to iran charged in to -- a foiled plot to assassinate american politicians. kamala harris avoiding serious policy discussion. liz peek fired up on that a one. and florida congressman byron donalds, a rising star in the republican party, on squad member cori bush losing her primary. the 10:00 hour of "varney &

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