debate. also we're going to have to look out for the next five days, does kamala harris keep her commitment to have a televised interview? cheryl: her campaign chief said she's going to maintain that commitment and she said that the beginning of the month that she was going to do an interview the 31st is saturday. >> trump did so well when they cut the mics in the debate against biden. be careful what you wish for. cheryl: mark tepper. tricia mclaughlin. "varney & company" is up next. welcome back. >> here i am, good morning, everyone. as you might expect we are 70 days to go to the election, plenty of action and politics. rfk junior backed trump, he wants to make america healthy again. the kennedy family disowned him, his sister kerry said her

brother has desecrated the family's values, trump hatred on full display. donald trump suggested that bow out of the september 18 debate on abc, trump objected to carl's interview with senator tom cotton this editor correctly pointed out that kamala harris has not actually said publicly what her health policy is, trump says abc is biased. harris says she will do a media interview by the end of this week, does she need to, she's not sure. she brought an incredible $540 million since biden left the campaign. the president himself is on his second week of beach vacation, he is not in d.c. as a white house message suggests. frequent question who is in charge of our government. let's get to the markets, stocks close to all-time highs on rate cut expection and expectation. rising concern of the preemptive strikes in babylon. the gallup 70, s&p update, the nasdaq on the downside 18 points lower. the price of gold is doing well

with all the action than the mideast, $2559 an ounce, bitcoin going to 63000, interest-rate start with the ten year treasury the yield down to 3.78%, the two-year, down a fraction but it's at 390. the price of oil rising on israel's action and hezbollah $77 a barrel, gas down 3.35 are regular on average, diesel down 1 cent at 3.69. on the show today, the kroger albertson merger goes on trial today. this is the administration backward looking policy trying to force prices and profit down on full display the democrats antibusiness stand. if it's big it's bad except for government power. throughout the day will follow nvidia and how they perform with wednesday's earnings report makes a big difference to the anti-market. it's not a fraction of a cent, 4 cents today. it is monday august the 262024. "varney & company" is about to

begin. ♪ ♪ ♪. stuart: i know it's early rock 'n' roll that i like it when it's on by the rolling stones. looking at a sunny, hot new york city, let's start with politics. sunny and hot donald trump suggested he might skip the abc debate with, the hairs on september the tenth. what is the problem. >> trump is debating whether to debate why would i do the debate against kamala harris on that network abc will the panelist get the questions to the marxist candidate like she did for crooked hilary clinton and kamala harris best friend will likely do likewise. they've a lot of questions to answer, why did harris turned on fox, nbc and even cnn but

politico says behind-the-scenes both campaigns are at an impasse over the rules of the debate. one of the issues is microphone muting. harris wants the microphone hot at all times in a campaign advisor tells fox they believe trump's team does not trust him that he can't handle himself without the benefit of a muted bike. trump's campaign is responding satan enough with the games we'd excepted the debate harris camp after agreed to the cnn rules after the first debate last for a seated debate with notes and opening statements. we said no changes to the agreed-upon rules. who agreed on these rules, abc, trump and biden. now it is harris, which way is it going to be, the debate is scheduled to week from tomorrow. stuart: let's see if that happens. charlie hurt his joining us this morning. we are skipping this debate. >> i think it would be best to

participate in the debate but let's be clear any normal candidate running against a media that is this supposed to the candidate and has demonstrated such fealty to the other campaign that candidate would never to principate in a debate with the abc. going in trump's favor is the fact that trump always does better when he's up against somebody who is an opponent and it doesn't matter. obviously he'll be up against kamala harris but usually when he goes into these, not only up against his political opponent pretties up against the media which is just as much, probably a better opponent than his political candidate opponent. on a normal circumstances no candidate would agree to this but in trump's circumstances he will probably do much better. stuart: i see that, listen to what rfk junior said about

ending his campaign and endorsing truck. roll tape. >> it became clear, i did not have a path to victory. 16 months of censorship of not being able to get on any network except for fox. i had two appearances in 16 months. i was blocked off the networks and off of the debate. stuart: does this move in favor of trump? >> think without a doubt and is also important to take a moment and look at this. the democrat party has become the party of censorship and government control and that's only reason to audit figures like donald trump and rfk junior would wind up aligning together. but i think it underlines just how dramatically off the screen the democrat party has moved. i do think it'll make a

difference particularly in the swing states but it also really does feed directly into the message of the term campaign which is the federal government has been taken over mainly by the democrat party but also the media complex in the only way this is the last best shot at trying to rein in the powerful government that has been taken over and is completely designed only to protect its own power and not deliver for normal voters. stuart: charlie hurt on a monday morning. great stuff, see you soon. the harris campaign has announced a spectacular fundraising operation how much has she brought and since biden left the campaign. >> $540 million since july 21. more than half a billion in over a month. 82 million last week during the convention and 40 million during

and after she spoke and accepted the nomination thursday evening. interestingly two thirds of the first-time donors, women. >> that is interesting, two thirds of the first-time donors. >> in a fifth. stuart: i presume that is the case. >> i give you that, freedom for the young people, those were the messages that resonated with certain demographics. stuart: what else do we got you told us where the money is coming from, billionaires, wait a second a lot of the money coming in. >> both campaigns to his bankrolling names, billionaires, 16% of all donations to harris and trump in they're down ballot congressional races are coming from the mega donors. in dollar terms, seven-point to billion dollars according to open secrets and of that one point to billion from 100 donors really rich people, bankers and

oil tycoons. it begs the question, what do they expect for their investment should there candidate when. stuart: . quote pro, who knows. let's check the markets, you want to know where your markets going down what 70, nasdaq down 17. jessica with me. we have to talk about nvidia. that is the all-important earnings report that comes out wednesday "after the bell". why do you say that nvidia stock could come down 25% in september. >> i might be the only one saying this but i think i just located right shoulder patting myself on the back for recommending it on your show in 2018 which was $3 split adjusted. here's what i think, back in july jensen weighing the ceo of nvidia came out and said there could be some delays in the

black wealth chip which is a big gpu that they put a lot of faith in. there's not been a ton of clarification as to the potential delays. what i see with nvidia. i see a stock that virtually everybody loves, earnings are going to be good but they're not good to be as good as people want them to be. we going to see a doubling in revenue, doubling in sales but they're not going to be as good and you have a black wealth chip potential defect hanging over it. as a result of that, you've seen there's been 360 hedge funds that have reduced their positions and nobody is selling all of their positions. they own 80% of the a.i. chip market and when you have company spending tens of billions, hundreds of billions of dollars

in the ramp up in a either the direct beneficiaries. stuart: if it came down 25% in september that would spill over into the rest of america big time wouldn't it? >> if you look at the market last year it was strong it is been strong in 2024 but if it wasn't for a.i. if you remove nvidia, hail to the king, nvidia is the king, they've come from virtual excluding to be the top of the top. if they do, that's why i consider this wednesday earnings reports more important than powell testimony asked week. i think it might be the most important thing that the market has to focus on this entire y year. >> you on videotape of the 25% drop for the stock in september. back on to justify your position. jeff sica, you have a nice day. coming up kevin o'leary says the

democrats could have sunk the election with one huge mistake. >> harris has assumed a winner by anointment they missed the opportunity to run a process and suck up another week of your time they did not do that that may prove to be a huge mistake. >> they will join us in the 10:00 o'clock hour. the southern border is a major concern for voters and bernie sanders a is taking no. >> we have a crisis at the border. keeping people from illegally entering the country is obviously the right thing to do. we need comprehensive immigration reform. stuart: it seems like he's taking a leaf out of the trump talking point book. near congressman nicole malliotakis lori act did not just a moment. ♪

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bring on the good stuff. stuart: monday morning here is how your money will operate, tablet 60, s&p up seven, nasdaq down 25. bipartisan house task force on the assassination of trump will tour in butler pennsylvania, cb cotton is there for us. what is the focus of the inquiry today. >> nice to see you. today local law enforcement will have another chance to share their side of what went wrong with ten members of the bipartisan task force planning to be here on the ground in butler pennsylvania. the taskforces one of the goals is accountability after a 20-year-old gunman duped the secret service, the other goal of the task force created in early august are to understand what went wrong and to prevent a

similar agency failure from ever happening again. the task force can use a subpoena power to get answers. at the end of the investigation lawmakers will make recommendation for agency reform or new laws. four of the groups republican members including mike kelly will be here today alongside all six of the democratic lawmakers. the task force was briefed by the fbi last week and one congressman tells fox the agency says is making progress accessing encrypted accounts used by gunman thomas crooks. former president donald trump told elon musk that he plans to return to butler pennsylvania sometime in october but there is anxiety amongst local leaders about his return. >> i think the concerns really are amongst law enforcement right now. i think there is a trust level that has to be rebuilt. i'm hopeful behind the scenes what is happening is that the law enforcement agencies are

getting together and looking at how they can do better. >> at least five agents who were involved in the raleigh security planning our administrative d duty. a source tells fox more agents may be caught up in the agency's internal investigation and several republican lawmakers in d.c. are also holding a forum on the assassination attempt. back to you. stuart: thank you very much. listen to what senator ron johnson had to say about the investigation. >> all i can tell you is the secret service, fbi r dragging their feet and stonewalling us. we had some transcribed interviews but the documents we requested are heavily redacted and delivered the day of the interview so we can't use the documents to conduct the interview in an effective way. were not getting squawk from the standpoint from the secret service or the fbi we requested the 302's entrance comes in

interviews with hundreds of individuals. they're not turning those over as well. stuart: or call malia talk is republican from new york joins me now why is fbi only handed over heavily redacted documents that don't tell us very much. in the back of a lot of people minds are cover. >> this is the way this administration operates they do not give us transparency, they stonewall and make us fight, sue, subpoena for every bit of information that we can give to the public. it's wrong and it's why we have to get rid of this administration but it raises a lot of questions. why is the fbi not being forthcoming this is that this same thing when it comes to the covid pandemic they were forced to relieve something by a law unanimously in the house and senate and they delivered something that was redacted as well which does not comply with the law. when you talk about afghanistan in the 13 soldiers that died three years ago today they give us little information.

this is the way this administration is and people need to take know if they wanted transparent government they need to elect president trump again and we do want answers and we must give the people answers because the former president and a now candidate was almost murdered in this administration is awkward to comply and be forthcoming that is unconscionable to me. stuart: let's move to the border listen to senator bernie sanders speak out about the border crisis. >> we have the crisis at the border and we have to make sure fentanyl does not get into this country and crackdown on illegal immigration but we need comprehensive immigration reform young god knows how many young people in this country as a result of daca who deserve to gain citizenship. we need skilled workers and workers. a lot of labor shortage all over america were immigrants complete important role. keeping people from illegally

entering the country is the right thing to do but we need comprehensive immigration reform and i suspect that's what the vice president supports. stuart: can you believe this bernie sanders calling for border control. >> you know the election is around the corner when democrats speak like republicans. he should remind the world that it's biden harris that putting 60 executive orders that dismantled the border. shocking to see the new york city democrats running to the convention with such a crisis created here where we had cops shot, a young girl, three women raped in a two-week period by illegal immigrants and their flocking to endorse the same people that put the policies in place and can easily fix it today if they wanted under the executive orders you put in place. stuart: new york adams cannot get a speaking slot they would not let them understand. thank you for joining us. some students in massachusetts are left without bus service,

does this have anything to do with migrants. >> yes i know they won't say that outright the outside of boston they welcomed 237 migrant families. that's 100 kids that will need buses to go to the seven schools in the district. the migrant children get to dedicated buses paid for by the state but 150 resident children will not get bus service from classes next wednesday. the superintendent says it's not because of the migrants that budget for those two buses is separate he blames allotment application, bigger demand and a bus driver shortage. obviously the parents are mad and discussing options, can we pay for a bus or can we do double runs which means some of the kids might have to go to school when it's dark outside, super early so the bus can make another run. migrants are just fine. stuart: look effective money, thou up 70, s&p [and nasdaq down

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stuart: on the market, three minutes ago for the opening bell not that much price action down up 70 points. ryan payne with me i want to talk nvidia they report "after the bell" on wednesday. >> i'm going to blow the doors off the earnings expectation. it should double the revenue and earnings over the year which is insane given how much revenue there generating 27.8 billion most analysts have been a little bit low underestimates. i can see them beating again and there's anticipation on the blackwell chip next year. all the momentum is behind them. stuart: there some suggestion that the lock will chip has had problems. if they're not resolved the stock does not do well. >> the stock trades at 47 times forward earning so it's standing on stilts but i think there's a lot of money getting in this market and advise what's the

hottest. i think there's a case to say it'll go higher but that's not where i would put my money. >> no if you look at the magnificent seven it's getting less magnificent to put it lightly they're starting to do celebrate on earnings 34, 35% growth this quarter earnings down from 55% first-quarter albedo by 70 by the end of the year but the other 493 companies in the s&p 500 you see the earnings accelerate and they trade a lot cheaper. you combined growth a lot cheaper than buying the big naked cap stocks. stuart: how i buy growth how do i go out and say i want to buy growth. >> first off here blinded by the s&p 500 and basement nvidia, microsoft and apple they drive all the return in the index is a mega cap stock, the real way is to get out of tech and by everything else if you look at the last month utility stocks are up over 6% real estate and even interest-rate sensitive is

going to do well because the fed is the foregoing conclusion there to cut interest-rate and more money keeps plowing the money market funds are up to six-point to $5 trillion in money market fund it is a huge number because you're getting 5% gift away all year because it takes all year to earn it but meanwhile if the fed cuts that's going away and where is the cash going to go that's been my argument the melt top the precipice is going to happen because so much money has to go somewhere. stuart: we've seen some of the melt almost at highs across the board. >> there's so many investors in this move between a rock and a hard place, the rolling stones song, they feel do i get in the market at the high levels and i say yes to avoid the magnificent seven diverter portfolio. stuart: thank you for joining us we will see you soon. the markets open and were on the upside on the dow industrial

from the get-go up 70 points and even split amongst the dow 30 winners and losers not that much. s&p opening higher, .14% on the upside, nasdaq composite, same story on the upside down a fraction .07%. look at big tech a mixed picture also but is up apple, amazon, meta and microsoft are on the downside this morning. the stock of the week month, year, whatever nvidia this morning up 15 cents, what are we expecting. >> the hearts in the lungs of the a.i. revolution here we go will find out how strong wednesday "after the bell" revenue is expected to more than double and common shy of $29 billion. one quarter 29 billion this is the chipmaker that put up triple digit growth for five straight quarters that could be a pro problem. let's say it predicts the current quarter revenue will

only grow 75% to $31 billion we might have a big problem and a selloff across a.i. nvidia is also about whether for the magnificent seven why the unpopular stocks. two other things blackwell what is demand look like in the production problems with it and margins they're expected to slip because the high cost of production. >> a couple of minutes ago jessica said there might be problems with blackwell and is calling for a very sharp selloff in september but is on videotape saving minima have to come back and answer. ibm they're shutting down the research and development in china what is the problem. >> were companies is retreating from china is no longer a growth market for ibm there is increasing competition and a government push for chinese committees to use local suppliers. ibm has been in china for over four years now leaving 1000 jobs

in the research and development across several offices in the country 1000 jobs lost. >> the chinese communist white under might want access to the technology and that's how they would do it. then we have a wing the starlight or astronauts are stuck in space and won't come back until next year. it's elon musk bringing the back. >> isn't that amazing spacex is taking the two astronauts that went up to the iss back in june this is a trip that was supposed to be easy and last eight days, nothing is easy they will be back to earth in february 8 or 9 months later on a different space vehicle. nasa decided it was safer for a spacex capsule a major blow for bowing down 1% is also third of its value this year because of the commercial jetliner problems, the starlight and program has been years delayed billions in cost silver run and

they scribble to investigate what helium leaks in the thruster mishaps and they tried to convince nasa that the starliner was safe to get the two astronauts back home and nasa disagreed, safety is our northstar and they went with spacex. another one. stuart: kroger in albertsons. the proposed merger in court today was the ftc's argument against the steel, big is bad. >> a $25 billion deal, the argument it's bad for shoppers and bad for workers. they save the two food stores merge, the shopper already battling inflation even more for groceries, the chains are saying we need to combine to negotiate better deals with our suppliers and compete against walmart and costco. the ftc also says they're going to get the bad end of the steel because the unionized bargaining power. that's interesting.

in the high-profile ftc going after merger using labor market theory, the trial, the case goes to trial in oregon and expected to last three weeks. stuart: what is this about uber being fired a large amount of money like $300 million in europe, what are they supposed to do. >> 225 million by benevolence data protection watchdog they transfer data from europe to the u.s. without proper protection, the dutch regulators that were collected sensitive information like medical records and photos and that's a violation of the privacy laws. $325 million what's this about a fire at rivian. >> the only plant as it stands in the state of illinois. there was a fire in a parking lot, the cause we don't know the damage some of the ev's and that number has not been specified but the plant makes the r1 suv

the pickup truck and will eventually make the cheaper version when it comes out. stuart: not much impact on the stock down 21 cents. crowdstrike another report on wednesday a lot of people cutting their price target. >> this is a cybersecurity company that had the minor software upgrade last month that created major and crippling problems for many companies. the question is they report wednesday "after the bell", how long do the problems last. security needs are paid upfront and they might not see the impact until future quarters. because companies already pay them but to brokerages to answer your question, rosenblatt and deutsche bank are cutting the price target from 350 - 330 and 275 respectively. >> how much will they have to pay out lawsuits, that to. give me a number. the parent company of temu of the discount retailer, that must've been a bad report, they

reported this morning. >> losing a quarter of the value. if you shop on temu a lot of americans do, you might have to wait a long time for your item it's pretty cheap that hurts their margins in the chinese customers, domestic customers also week, the spending so much money on marketing and promotions. the double whammy for the stock it could do it down sharply but the rival ali baba njd.com or lower today. >> a quarter of the value lost today. check it out together, the big board we show the dow industrial .26 points as we speak, 41300. the dow winners are quite a few, topping the list dow inc., chevron, unitedhealth, caterpillar, the s&p 500 here's a chance to see your stocks. first solar eog resources, devon energy, freeport in the nasdaq composite i don't see any big names, advanced micro warner bros. and. >> energy, no big-name

high-tech. coming up bill mayor criticizing cnn host for showing a clear bias towards harris after her dnc speech. >> cnn is the place where both sides can watch. >> they were gushing about how great a speech it would. >> i did not think it was as great as they would make it out to be. harris is not an informal interview and 36 days. joe concha on that. and pox known as monkeypox has been declared global health emergency, could it be the next cove is like pandemic. answers from doctor marc siegel, 60000 people ripping upon sale contracts in july. high prices kamala harris proposed $25000 tax credit work to bring in new homeowners. economists brian westbury tries to explain next.

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stuart: 12 minutes into the market, the dow up 120, minor gains and minor losses for the s&p and the nasdaq the weakening labor market has economists worried the fed may have waited too long to cut rates. powell pointed to a likely rate cut in september. where to from there. >> i talked to another voting record and the possibly three interest-rate cuts at each of the meetings this year, two or three possibly looking at this year and that means auto loans when you go to buy that that money will be cheaper to borrow as well as mortgages it means interest on your credit card should also start to fall after the first rate cut. although this will boost demand and meant to help the companies use the cheaper money to help

keep hiring. >> there is a cooling in the labor market. if it were all recognizing that. >> is the city federal reserve jeff smith and former community bankers watching to see if layoffs pick up steam, at the moment companies are limiting the number of people that are hiring under the biden here's a administration. all of the jobs lost were added back in the economy created 6.4 million jobs, vice president printable deputy communication director says kamala harris is focused on the clean jobs. >> president biden passed the largest climate legislation in history which increased in major america is the highest producing of the domestic energy in this country created nearly 500,000 energy jobs. >> here's the catch the latest data from the beer statistic shows the average select green jobs offers an annual salary of $45760. the price waterhouse coopers study showing the average wage in the same year for the oil and natural gas industry is about

$75500, the white house divided a administration in any possible here's a administration are and would be in on the green energy are having to do this as we all deal with 19% higher overall prices. >> thank you, record number of home deals collapsed in july, 60000 fell through because of high prices and maybe certainly the uncertainty about the election, perhaps just as important, july showed the lowest number of home sales ever, that was one month of july, brian westbury with me. with the $25000 tax credit that harris proposes, would that help? >> yes if he gets what he $5000 to help with buying a house, certainly it will help you, the problem was that works its way through the system it's going to lift prices for everybody. the impact would be temporary but the second thing i would

remind everybody, we heard a report there is talk of three interest-rate cuts this year. if you think the fed rate cuts are going to bring mortgage rates down why aren't you going to put off and wait for the third one or the fourth one. if you think vice president harris is going to be the next president, why wouldn't you wait to get you $25000 credit. what they're doing is going to slow the economy in the near-term not help it. everybody thinks cutting rates is magically going to pop the economy. i would argue that is the opposite that people will wait for the fed to cut more and more and more. stuart: the latest survey from freddie. >> a 30 year fixed-rate mortgage 6.46%. i don't know why you're laughing, when will mortgage rates come down significantly. back to a 4% level, how long is equity take.

>> it's going to take a long time here's the issue the federal reserve is held for the last 15 years starting in 2018 the fed separated interest-rate from the money supply and i know that seems weird to talk about but they used to be connected together. what they did they started printing lots of money during jerome powell ten year that's why we have inflation but we were holding rates at 0 and we held rates at 0 or nine years out of the past 15. that's below the rate of inflation, interest rates are supposed to be and plus one or plus one and a half, right now inflation is 3% or 2.8% plus one, plus two. you get into three and have, for the half, five. were not going back to 3% interest rates.

mortgage rates. the reason we were there is because the fed artificially held interest-rate down at 0 i think they did that to make financing government more cheaper and more affordable and they sucked a lot of people into buying houses at under 3% mortgages and were not going back there unless inflation falls a lot more from where it is. stuart: okay, we will take that. we will see you soon. i've covered every presidential election since 1976. this is the first time i remember one side being hated so much by the other, that is politics and that's my top of the hour. crypto covetousness but the biggest election where is the money going, the full story next. ♪

stuart: crypto companies are shelling out millions of dollars in the selection. republicans and democrats are fighting for the money. kelly o'grady is with me.

how did they decide which side gets the money. >> is all about which candidate they think will be better for crypto. the packs are nonpartisan in the primarily focusing on the house in the senate races, where they think a pro crypto candidate has a chance of winning that election, fair shake that's a pack that received the most crypto corporate money and they shared the statement our mission is clear support candidates who embrace innovation and protect american jobs and committed to working across the aisle to get things done and oppose those who don't. this far crypto companies has shelled out $190 million the cycle, the majority is coming from point basin ripple two major players at the heart of the industry with regulators. the crypto boat could move the needle. one in five americans own crypto and 73% share candidate stands on crypto and it will impact their vote. it's why the currency is become a key issue in the presidential election. research with the pack shows and

five swing states, the crypto voter outnumbers the 2020 presidential margin by eight times. vp harris is fighting an uphill battle, most argue biden administration has waged an all-out war on the space, the vps team has reached out to keep players but the lack of the specific campaign stands whether she would be president trump is all and he made a slew of promises and teasing a finance platform for weeks and he posted for too long the average american has been squeezed by the big banks and by financial elites. it's time we take a stance together. trump is likely held by the rfk junior endorsement, he's been really pro crypto and actually right when he made the announcement, the price of bitcoin shot straight up. at least some crypto investors think a true presidency would be a good thing. stuart: fascinating all of a sudden the crypto is in the presidential election. four years ago it wasn't a major issue i don't take. in 2016 i don't think it was at

all. now hundreds of millions of dollars being raised. thank you very much indeed, the dow hit an all-time intraday high. the moment 41339 read up 164 points. a minor gain for the s&p, a minor loss for the nasdaq. check the ten year treasury yield. up a little at 3.81%, now look at golden another new high as the fed signals rate cuts, 2552 that is there or about the actual all-time record, 2550. check bitcoin 63000 earlier that's where it is now the price of oil up today because of new tensions in the mideast has blood and israel exchanging fire. not gas you are below or right at $2. the average price per gallon of regular all the way down to 335. we like to do this every morning at this time, california the average for regular is for 60. look at the dow winners, there are a few amongst the 30 stocks,

the doubting, chevron, caterpillar, honeywell international. s&p 500 the winners on that list topped by first solar, eog resources, freeport, you can see a lot of energy companies on the active list because the price of oil is moving up. warner bros., sirius, walgreens, diamondback energy offer the nasdaq. still ahead kevin o'leary he says the democrats could be making the same mistakes with kamala harris that they made with hilary clinton. kaylee mcghee white on rfk junior chopping up for the presidential race and offending trump's maga movement, kt mcfarland on the rest of the mideast israel attacked and have a lawn. doctor ben carson on harris 25000th time home buyers handout, the 10:00 o'clock hour is next. ♪

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stuart: that was a surprise, it is raining. i thought it was going to be bright and sunny all