no justification, zero concrete policy other than copying j.d. vance on child tax credits, some communist, you know, economics thrown in there. and then the only policy achievement she can talk about was insulin prices. cheryl: yeah. michael balboni. >> no cushion about crime -- discussion about crime, foreign policy, national security. everything seen through a political prism. it can't stay this way. cheryl: well, we'll see. we do have a debate in less than two weeks. mike lee, michael balboni, thank you so much. "varney & company" is up next, and stuart varney, happy friday, mr. varney. stuart: right back at you. good morning, cheryl. and good morning, everyone. from the harris interview last night, my values have not changed. i'll be clear on this. we need a new way forward. well practiced talking points, desperate to avoid the flip-flop charge. in 20 odd minutes' worth of tape, harris and walz came up

with unsatisfying, vague platitudes. we're going to take you through the interview. i'd personally love to know what parts of the tape were left on the cutting room floor. trump noted it was a taped interview. he said harris did not look like a leader, and he revealed a new family-friendly policy. he would make invitro fertilization free. trump campaigns in pennsylvania today. he'll likely go after harris for her frack flip-flop. that's a key state, fracking is a huge $4 billion a year industry supplying tens of thousands of jobs to the western part of the state. let's get to the markets. key inflation report, the personal consumption expenditure gauge commonly known as a the pce. it gained 2.5% in the last year. inflation at this level holding steady. the market had been up before the release of those moments, the dow was up over 100. it's moderateded a bit, 40 points on the dow, 18 on the s&p. the nasdaq, though, 138 points up. check out nvidia.

what was it, down 6% on thursday, up slightly this morning. .94%, 118 on nvidia right now. interest rates, the 10-year treasury coming in at 3.87. the 2-year, 3.99322. i think that's what we have -- 3.93 now. bitcoin flirting with $60,000. it's actually at 59,4. the price of oil, $75 per barrel. not much change there. and gas, that's down another cent, it's creeping lower, $3.35 is the average for regular. $3.70 for diesel, down one cent. on the show today, hearst has a border problem -- harris has a border problem. criminal gangs take control of a whole building in awe a aurora, colorado. in southern california, they are frightening elementary school kids trying to barge their way onto their school bus. a mother of one of those children on the school bus will join us later. it is the last trading day in august. the labor day weekend is almost here. "varney & company" is about to

given. ♪ ♪ -- is about to begin. ♪ ♪ if i could turn back time, if i could find a way. ♪ stuart: nicely done, producers. if i could turn back time. i think that's a reference to kamala harris turning back the time -- [laughter] on her vice presidency. all right. we're going to start there. why not? morning, everyone. kamala harris sat down for her first interview, and tim walz was by her side. the highlights, please, lauren. lauren: she was asked to explain her changing positions, particularly on fracking. we'll start there. >> do you still want to ban fracking? >> no, and i made that clear on the debate stage in 2020. that i would not ban fracking. as vice president, i did not ban frack. as president, i will not ban fracking. >> in 2019, i believe at a town

hall, you said -- you were asked would you commit to implementing a federal ban on fracking on your first day in office, and you said there's no question i'm in favor of banning fracking, so, yes. so it changed in that campaign? >> in 2020 i made very clear where i stand. we are in 2024, and i've not changed that that position. lauren: but she noted, my values have not changed. but in practice, everything changed as vice president. so will voters, particularly in pennsylvania, trust her? is she trustworthy? if dana bash asked her if she regrets defending president biden's mental acuity. >> i have served with president biden for almost pour years now, and i'll tell you concern four years, and it's one of the greatest honors of my career. i have spent hours upon hours with him be it in the oval office or the situation room. he has the intelligence, the commitment if and the judgment -- lauren: is that authentic?

overall, i'd call it a safe interview. i don't think she did herself any harm, but i don't think she moved the need either. stuart: i agree with that. now, listen to what harris had to say about her day one agenda. >> if you are elected, what would you do on day one in the white house? >> well, there are a number of things. i will tell you, paris and foremost, one of -- first and foremost, one of my highest priorities is to do what we can do to support and svenen the middle class. -- strengthen the middle class. when i look at the aspirations, the goals, the ambitions of the american people, i think that people are ready for a new way forward. >> what would you do day one? >> day one, it's going to be about a, one, implementing my plan for what i call an opportunity economy. stuart: rather vague, i'd say. charlie hurt joins me now. let's get right at it. charlie. what was your big takeaway from the interview? >> well, i agree with lauren, i don't think that she did herself

any damage. she gets points for discipline. it was kind of remarkable to sit there and listen to her get asked about her vacillating positions on all kinds of things, and she just would sit there and look at dana bash and just say i haven't changed my position since this date and refuse to acknowledge all the things she said before some certain date. so, and she's -- lauren's exactly right, it's all going to end up coming down to credibility. does anyone believe her now because at what point did she change her mind, and her refusal to even acknowledge that she's changed her mind on all these things from fracking to the boarder and everything else, it makes you, it makes a voter look at her if they're paying attention to this -- and i don't know how many people were really paying attention to this -- and think i can't trust this woman. she will say literally anything to get herself elected. stuart: will the real kamala harris please stand up? we haven't seen her so far, i don't think. do you agree with that?

>> yeah. no, i don't think so. and i think, i thought it was the telling that one of the biggest accomplishments that she said, that this she cited from the biden administration was, first of all, unifying the country which is a complete laugher, and the second thing was she talked about the importance of sovereignty and territorial integrity. well, my goodness, look at a ukraine. you call that a success? under the biden administration? and, of course, more importantly, look at our own border. you think that territorial integrity and sovereignty is important, yet you opened the border. and, by the way, cnn asked hardly no questions about this. in any moral time -- normal time if a candidate running for president had the record she has for directly affecting the lives of the american people by opening the border and allowing millions of people to come across the border including criminals who came across the border and murdered people and raped people, they would be

asked about a very specific cases. and she was not asked about any of that stuff. and then she says i'm the only person running who's prosecuted transnational gangs? okay. i don't believe that, first of all. but second of all, you handed the border over to transnational gangs. how does she even get away with saying something like that? stuart: well, she got away with it last night, that's for sure. charlie hurt, thanks for being with us. important stuff and we appreciate. >> great to see you. stuart: we did receive the pce inflation number about a half hour ago. 2.5% up over the last 12 months. any other highlights? lauren: that same report contained income and consumption numbers and with that the savings rate. savings rate plummeted to 2.9% from 3.1%, so that was lower. pce, fed's favorite inflation gauge, it did, as you know, rise a more mild 2.5% in july. takeout food and energy also rose a more mild 2.6% year-over-year in july. so -- stuart: kind of neutral.

lauren: it's neutral. stuart: i think that inflation report was kind of neutral. look at the markets' reaction to that. not that much reaction, actually. dow's up about 40 points. nasdaq, solid gain there, that's up still 1411 points. lauren: -- 141 points. lauren: i don't want to draw you into discussion about the fed, but does their focus shift from inflation to the jobs market? is the jobs market deteriorating where -- stuart: you know i don't want to get into that. lauren: i know, sorry. stuart: on a friday morning. kenny polcari is with us, you're a good man. pce the last 12 months, not much impact on the market, surely. >> no, not really an impact. it has been trending lower, so it's the not a surprise at all, and it only further gives, gives power to the narrative that we're getting that rate cut in september. and then probably again in november and december. i think we're getting three of them, but that's me, and i don't think today's report changes that narrative.

stuart: is it time to buy nvidia? down 6% yesterday, up a percent this morning. >> so, listen, if you're not in nvidia, if you're just started, you absolutely have to dip your toes in the water. but for people that own it already, as long as a it's not if overweight in their position, it certainly is. but you have to look at a your own position. if you're already overweight in the name, then, no, you're not going to the buy any more. but if you're someone just starting out, today's a perfect day. don't go all in, you dip your toes a little bit, you do dollar cost averaging over the next, you know, weeks, months, however long your horizon is, and you play it that way. it's always a good time to buy nvidia when it's down 17 off the a june high. stuart: so you're advising me to dip my toes in the nvidia water because i'm not in yet, and you're saying, hey, stu, buy some at 118. you're on videotape. you're advising me to buy at 118. >> a thousand percent i'm in there because, look, you're not going to take the whole bucket

of cash you have and put it in nvidia today. stuart: that's true. >> you're going to do just like i today you, dip your -- i told you, you're going to dip your toes and then you're going to wait. it's like apple or microsoft, it's just a long-term name. stuart: okay. i'll tell you next week whether i do or do not dip my toe in the insid ya water. [laughter] kenny, have a great long weekend. >> you as well. stuart: see you later. >> you as well. stuart: trump has a brand new policy proposal on ivf treatments. watch this. >> your government will pay for or your insurance company will be mandated to pay for all costs associated with ivf treatment. we want more babies, to put it very nicely. [applause] [laughter] stuart: okay. well, that's new. we'll find out what tammy bruce thinks about that a bit later in the show. california parents and students terrified after groups of illegal migrants tried to board their school buses.

>> we don't know if these migrants are illegal immigrants or aliens -- we have a couple kids who said they were too scared to ride the bus this morning. stuart: rachel campos duffy, guaranteed to be fired up about this one, and she's coming up next. ♪ ♪ deeper than i ever knew ♪

we're doing a live trading event in aventura, florida. at this incredible event, my team and i will be demonstrating the smart money trading strategies that have made us famous. if you're serious about trading, you don't want to miss this unique opportunity to trade shoulder to shoulder with the pros. it's limited to just 100 people, so make sure you grab your tickets now. call 888-809-8058 to reserve your seat. that's 888-809-8058.

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: futures show some green. dow up of 6600, but look at the nasdaq --60. this is in the early going, don't know how we'll close in advance of a 3-day weekend. excuse me. last night kamala harris was

asked about her recent flip-flops on policy. rich edson joins us now. she didn't admit to the a flip flop, kid she? >> reporter: goodness, no, stuart the. politicians never admit to flip-flops. in this case, it's the values have not changed, it's just the specifics under those values seems to have evolved over the last few years. but there weren't too many specifics in this interview. she embraced the biden-harris administration's policies, and she says she's continuing to support a lot of what the biden administration has cone, but she also say -- has done, but she also a says after a decade of previous leadership in this country, it is time to turn the page. the vp defended moving to the center on issues like fracking and the border. during a 2020 the primary debate, she indicated she'd support decriminalizing illegal crossings at the border. yesterday she said her administration would enforce those laws. >> i believe there should be consequence. we have laws that have to be followed and enforced that

address and deal with people who cross our border illegally, and there should be consequence. and let's be clear, in this race i'm the only person who has prosecuted transnational criminal organizations who traffic in guns, drugs and human beings. i'm the only person in this race who actually served a border state as attorney general to enforce our laws, and i would enforce our laws as president going forward. >> reporter: on the economy, harris says this administration's done good work, but there's more to do. in the 2020 the primary campaign, she once said she supported banning fracking. harris said last night the u.s. could increase a thriving clean energy economy without banning fracking. her opponent's running mate maintains these position shifts are just all a front. >> she's been coached to pretend to be a moderate. unfortunately, guys, she's governed as a san francisco liberal. and because of it, americans are poorer, the world is more

chaotic, and our border is wide open. >> reporter: now, president biden has faced opposition from within his own party especially among arab-american voters over u.s. support of israel. last night harris said israel has the right to defend it, that far too many innocent palestinians have been killed in gaza and that hamas and israel needs to reach an agreement to free the hostages and end the fighting. back to you. stuart: thanks very much, indeed. look who's here this friday morning, rachel campos-duffy, on our set in new york. harris says she prosecuted the transnational gangs. i wonder if she'll do something about the venezuelan gangs that are terrorizing colorado. >> oh, it's such a great point. you see them literally commandeering and acting as landlords as if they own that building, and now we see a lot of illegals as well. we have the story of the school bus that, you know, people are trying to get on the school bus,

illegal immigrants, with our children. we're seeing an emboldening of them because people like kamala harris say they're not criminals. she actually has tweets out from before that elon musk has retweeted where she says, you know, they're not criminals. it's not a crime to come across the border illegally. so the answer your question, i don't think she's going to do anything. stuart: no. it's a failure with of biden's foreign policy. they cut a deal with venezuela. they let i think it's 12,000 a month flown into the united states. we don't know who they are, they've not been vetted, and now they're showing up in colorado running apartment buildings. this is gross failure. >> it's a gross failure, but it is a failure that they have been doing for a long time. about two behalf years ago, congressman nells out of texas got information from border patrol that our homeland security knew that the prisons were being emptied, and he and a bunch of congressmen, republican congressmen, wrote homeland security and said, hey, wait a minute, why is border patrol looking out for prisoners from

venezuela, what a do you know about that? if never responded. they have known for a long time americans, and they never closed the border. and they never told the american people really. stuart stouter i want to get to the migrants who have been trying to board school buses in southern california. >> yes. stuart: u just listen to what one of the parents had to say. roll that tape a. >> we don't know could these the migrants are illegal immigrants or aliens could be human traffickers, sex traffickers. it's a concern with our kids, you know? we want to make sure they're safe. we want to make sure they're being able to get to school safely. we have a couple kids who, i've been told from other parents, who said they were too scared to ride the bus in this morning, so one of the parents took the kids to school in their own personal vehicle. stuart: rachel, i have to tell you, i've lived in america for 50 years. i can't believe this is happening now. if this had happened when i first came here, i mean, somebody would be in prison.

>> absolutely. stuart: [inaudible] >> listen to the san diego sheriff's department's responses from their media relations. they said we are investigating to determine if a criminal act has occurred. well, excuse me, a criminal act occurred when they first crossed the border. they are criminals, actually, and to your point, if you tried to get on a bus, i don't think that that would be -- i think you would be in a lot of trouble. so the point is these kids are at a bus stops, they're being -- their parents are being told if we pass your bus stop, it's because there's illegals there, go to another bus stop. this is how they're handling it. they're not handling the root cause. stuart: yep. and this is the united states of america, amazingly enough. lauren: and that's california where liberals are saying what if the migrants overpower the bus driver? what if they traffic my children? that's what californians' worries are about the bus. >> they should be. stuart: rachel, thanks for being on the show. always a pleasure. >> thanks for having me on. stuart: we will have the mother

of one of those california students on the show, 11:20 the eastern time. she will tell us exactly what happened. and now this, elon musk calling out harris over immigration. what did he say? lauren: this was the post that rachel was talking about. he reposted a 2017 kamala harris tweet where she wrote, pull it up, an undocumented immigrant is not a criminal. and then he added to to it, please note that this is an actual statement from kamala. and he argued that despite any flip-flopping on the border, her agenda and that of the democratic party -- and he says it's to bring in and legalize illegal immigrants as they vote overwhelmingly democrat. stuart: i think he's right. thanks very much, lauren. quick check of futures before we open this market. i see green. dow up 80. nasdaq, 163. the opening bell is next. ♪ ♪

raising twins and as a single mother, presented, quite a few challenges. the financial aspects of oh my gosh, how am i going to provide for my family? i'm going to have to get two jobs. thomas kennedy, he was a major in the u.s. army.

tom loved hockey. he went to west point, to play hockey. and ended up falling in love with the army. he was a father. he was, a great husband, he would give you a shirt off of his back for you. in 2012, tom was deployed to afghanistan. he was on his way to a provincial governor's meeting, tom was killed by a suicide bomber. when the bomb went off, tom was in a group of four that were, killed in the incident. the morning i found out. our world has just been upended. you know, with not having tom around to be here in our everyday life, my sister moved in with us, and she helped me with the day to day life of raising, two year old twins. in 2018 i was diagnosed with breast cancer. kind of threw a wrench in to what we had established as our, our daily life and our new normal. my mother-in-law had told me about tunnel to towers. and when i found out that i was selected to have my mortgage paid off, you know, it seemed like i had won the lottery. today, we welcome the kennedy family into their mortgage free home.

the timing was just incredible. with everything that i'm going through with my treatments for metastatic breast cancer. having our biggest bill being taken care of by tunnel to towers, i'm able to on my children and my health. people should give to tunnel to towers, because it really helps family members of fallen service members know, first responders who they wake up one day and it's a normal day and then their world can just be turned upside down. to know that there is an organization that can step in irreplaceable. please contribute $11 a month. to help families like mine please visit t2t dot org. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help

pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. stuart: premarket action on a friday morning right before a long holiday weekend, solid gain for the nasdaq. look at that, up 166 points, .86%. tom the hayes back with us to look at the markets this morning.

margins, profits and profit margins have been good this earnings season. does that mean the rally continues? >> i think the theme here, stu, is stay alive til 2025. what do i mean by that? the music's plague right now, we're going to dance until that first cut which is usually historically a buy the rumor, feel the news. we might get a little -- sell the news. we might get a little choppiness before the election. if you're on margin or leverage, come off margin and leverage, stay invested. enjoy the volatility in october and we'll get a year-end rally once we know that gridlock is in regardless of which party wins the executive branch. we just want to see gridlock. the less politicians can do -- stuart: you'd love some gridlock, don't you? it does well for the markets. i want to start with generac, the generator people. >> 700% of the market -- 70% of the market, the stock is down 70% from covid highs. they overinvenn tored. they worked through it, it

troughed in the fourth quart last year. we think this can go much higher. this was a $500 stock, they'll be generating similar cash flows within next 12-24 months that they were at their peak. interest rates lowering is going to help because people finance their prosecutor purchases. stuart: yeah. the grid ain't doing too well, is it? nice to have a generac in the backyard. >> exactly. stuart: the other is intel, i say this every day, it's gone to $21 a share. is it a buy? >> it is a buy, you know -- stuart: it's gone down a lot. >> it's trading a track, book. they need intel's foundry to succeed to compete with taiwan semiconductor, so they've given them money. they're going to stand behind the foundry, and they announced today they might separate the foundry business -- there are going to be activists around the stock which means stuff is going to start to happen. they've got their legacy

business. the a.i. pc business, they're still a leader in that business, and the gowdy 3 competes with the nvidia 100 chip. it's half the price for twice the performance. 40% more energy efficient. so if you think nvidia's going to have a monopoly on this, think again. we've gone through the semiconductor cycles. sooner or later it becomes a commodity product, intel's going to chip away at nvidia. stuart: the is it going to get back to 30 or 35? >> i think it can get not only to 30, i think the legacy business excluding the promise of gpus, i think their legacy business alone is worth $40 a share. stuart: okay. we'll take a looked at it. tom hayes, appreciate it. going to show you the market. somebody's going to press that button, and we'll start trading. maybe they've pressed it already. yes, they have. okay. the dow has opened with a 70-point gain, the tow industrial average, 41,4000. 75 points higher. if you look at the dow 30, the vast majority are in the green.

there's some buying this morning. the s&p 500 on the upside as well. what about the percentage there? up merely a half percentage point. pretty good. and the nasdaq composite, solid gain. .80%, 140 points. 17,6 on the nasdaq. we're showing you big tech, please. they're most toly in the green. they're all in the green. meta, alphabet, amazon, microsoft, apple, they're all in the green, they're all going higher in the very early going. staying on big tech,s it is the trading day of august, so tell me, how has big tech done in the month? lauren: mixed bag. maybe some sideways trading. sleepy summer month, all up for the year. let's start here. this month apple is up 3.5%. amazon down 7, google down 5%. right? for the year they're all up sharkly. nvidia's up 137% -- sharply. meta is up 46%. so, you know, the encouraging thing for me was that yesterday when nvidia fell, the rest of the mag 7, the big tech stocks,

didn't. microsoft down a bit this month, but meta's up 10% this month. so, like i said, mixed bag. stuart: got it. show me apple and invideo-- nvidia together because they're in talks to invest in this openai. what's this all about? if. lauren: reports that nvidia will invest $100 million, apple will also invest -- i don't have a sum -- and microsoft will reportedly invest more. and thrive capital is leading this latest fund raising round. they're putting up $1 billion. to -- so all in, all this money gets the valuation of openai, the maker of chatgpt, to $100 billion. would you believe me if i told you with all this money coming in, they're still losing billions of dollars? openai will lose $5 billion by the end of the year because they keep spending to train their a.i. models. stuart: i'll believe you. lauren: i didn't -- stuart: it's incredible. lauren: i didn't see that one coming. you're getting billions here,

billions there from all the big tech players. stuart: okay. let's go to elon musk and tesla. i believe tesla's on the upside again today, it's at $208. a legal win? lauren: a federal judge dismissed a lawsuit that accused tesla and elon musk of defrauding investors by hyping up dogecoin and also conducting insider trading. so the judge basically said, look, elon musk tweets a lot. he even went on "saturday night live." he's being silly. it's puffery. it's not factual, and no reasonable investor should rely on that. so not only did he dismiss this lawsuit, he dismissed it with prejudice meaning it cannot be brought again. case closed. stuart: big win. dell is up just a tiny fraction this morning, but they are doing well in the a. i. race. lauren: they make the a.i. servers, and those sales topping $3 billion. shares are up 45% this year. one of the reasons the stock isn't going up more is that they

have weakness in pcs still, and that is a big part of their business. stuart: okay. we were just talking about intel with tom hayes there. i noticed it's gone to $21 a share. that's up 5% as of right now. any big changes? lauren: tom's argument is the government needs intel to to compete with taiwan semiconductor, and intel want wants to be an icon in chip technology once again. it's in the middle of this turn-around under ceo pat gelsinger that, quite frankly, isn't working despite the billions in chips fund act they've been getting. bloomberg is reporting heir evaluating their strategy. they're going to do something to change share price being down 60% this year. they could scrap factory projects, they could split their design of those chips from the manufacturing of them. they could sell their foundry business. but this is, no doubt, the toughest period in their 56-year history. we've talked about the job cuts, the poor if earnings report. they're suspending their dividend. stuart: okay.

lululemon. they've been under a great deal of pressure recently. they missed on sales, cut their guidance. i guess that's why the stock -- but it's only down a frank. lauren: and it had been higher because the bad numbers are baked in. the stock's been cut in half this year. the problem is they got boring, you know? women go into store, men too, but they see leggings in the same old colors, no new patterns, nothing to get excited about, and management acknowledged that. then they came out with a new legging, it's called the breeze-through, they already pulled it from the market. it got really bad reviews, so they took fit out of the store. same-store sales do did rise in the quarter, but they expect them to fall for the year. not good. stuart: next case. ulta. i know they are a cosmetics company, down 5%. lauren: warren buffett took a $260 million plus stake. management expects sales to fall this year. the ceo says shoppers are waiting to replenish their makeup or product when they

absolutely have to at refill time. not for variety, buzz they -- because they need to. and they're also waiting for promotions and rewards, so that's the story there. stuart: ulta, 3.48. the dow's up 13 the jr -- 1322 points. 132 points. intel up 5%. caterpillar, amazon, amgen, home depot on the list, all higher. s&p 500 winners, topped there by autodesk, intel 's on the list, hewlett-packard, albemarle. and the nasdaq compos fit -- composite. monogo db, what is that? lauren: software company. stuart: intel's on that list, crowdstrike coming back to the tune of $10, 3.8%. the 10-year treasury yield, where is that? it's going up slightly, 3.87. the price of gold sill at or

very close to a record high, it's down $10. $2, 550. bitcoin flirting with $60,000, 59,5 at the moment. oil, mid $70 per barrel range, 74.222. it's down today. nat gas, $2.11. the average price for a gallon of regular gasoline, it keeps edging lower. you're now at $3.35, but in california it is stubbornly at $4.63. coming up, an armed venezuelan migrant gang taking over entire apartment buildings colorado. one resident describing the fear of living there. >> every time i try to go to bed at night, we have to keep it like this so nobody can kick in the door. stuart: aurora, colorado, city council member is here with more detail. harris putting the blame on trump for economic struggles. >> the steps that you're talking about now, why haven't you done them already? >> well, first of all, we had to recover as an economy, and we have done that. stuart: will voters let her get

away with all of this? john lonski on that story. there is still time to send in your friday feedback. e-mail us, varneyviewersfox.com. we'll be back. ♪ just hold on, going home. ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat. silent retreat? hold up - yeeerp?

i can't talk right now, i'm at a silent retreat. cashback on everything you buy with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. ♪ i have type 2 diabetes, but i manage it well ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's staaart ♪ ♪ as time went on, it was easy to seeee ♪ ♪ i'm lowering my a1c ♪ jardiance works 24/7 in your body to flush out some sugar. and for adults with type two diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital, yeast, or urinary tract infections. a rare, life threatening bacterial infection in the skin of the perineum could occur. stop jardiance and call your doctor right away. if you have symptoms of this infection, ketoacidosis, or an allergic reaction. you may have an increased risk for lower limb loss. call your doctor right away if you have symptoms of infection in your legs or feet.

taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell ♪ ♪ the little pill with a big story to tell ♪ it's payback time. all these years, you've worked hard. you fixed it. you looked after it. maybe it's time for your home to start taking care of you. we've invested in our home, we've worked on it, we had a whole lot of equity just sitting there, you paid down the mortgage, invested in your home. i guess, you could say, your home owes you. if you're 62 or older and own your home, learn how you could access a portion of your home equity to give you cash. a reverse mortgage can put more money in your pocket by eliminating your monthly mortgage payments, paying off higher-interest credit cards, and covering medical costs. look, finance of america can show you how a reverse mortgage loan uses your built-up home equity to give you tax-free cash for almost anything you might need

just eliminating the mortgage payment freed up a lot of cash for us i get to do what i want when i want finance of america customers talked about the counseling they got along the way so they know how a reverse mortgage works, and how their home could help pay them back when they need it the most. i have no more worries anymore the fact that we're still in this home, means so much. it's done everything for us that we hope it would do for us. call now to receive your free no-obligation info kit. the kit shows you how to get you the cash you need using your home's equity with a reverse mortgage. find out how your home can start taking care of you. call this number. the worry every single month to make that payment was gone our customers' homes are taking care of them. maybe, your home could do the same for you. call finance of america, the country's #1 reverse mortgage

lender and get your free info kit. call this number. stuart: check those the markets, please, 11 minutes in. nice gain for the dow, 1390 points. solid gain for the nasdaq, up 148. then there's this, kamala harris defended bidenomics in her interview with cnn, but she stopped short of calling it a success. grady trimble at the white house. what else did she have to say on the economy, grady? >> reporter: stu, vice president harris didn't say the word bidenomics, but she rattled off a whole host of economic policies which essentially amount to bidenomics and called them good work. she was also asked what she

would do on day one, and she gave kind of a vague a answer about lowering costs for americans. >> day one, it's going to be about, one, implementing my plan for what i call an opportunity economy, extending the child tax credit. there's the work that we're going to do that is about investing in the american family around affordable housing, a big issue in our country right now. so there are a number of things on day one. >> reporter: harris also says she's proud of bringing down inflation to less than 3% despite the fact it was at 1. -- 1.4% when she took office. she also tried to explain away some of her big policy changes like her past support of a fracking ban and the green new deal saying her values have not changed. the trump campaign, for its part, is going after her today. senator vance says harris, quote, has been coached to pretend to be moderate but that she's actually governed as a, quote, a far-left person. >> and if you think groceries

are expensive now, what happens when we increase the cost of energy even further, making it hard to get food to the grocery store? if you think the cost of housing is bad now, what happens when we increase the cost of producing materials that go into the houses? she is pursuing a policy, guys, that is going to make americans poorer in their own country. >> reporter: and in that interview last night, harris also blamed former president trump for what she called an economic crash despite the fact that, as you know, stu, inflation only started surging after president biden and she started their term. stuart: oh, yeah, we know that one. thanks, grady. let's get back to this morning's inflation report. it's the pce number. up2.5% in the last 12 months. economist john lonski with me now. 2.5% seems to me to be kind of neutral, benign. >> it is benign, and it tells us that these fed rate cuts are on course, they're on schedule. you'll get the rate cut come september 18th and perhaps two more by the end of the year.

you'll have, you know, fed funds finishing the year no higher than 4.63. stuart: okay. now tell me about the savings rate and why is it down so much. >> wow. stuart: what's the impant of that? >> okay. the savings rate in july fell to 2.9%. it is down because of the fact we have spending rising much more quickly than the incomes, okay? after-tax personal income from a year ago in july was up 3.6%, and that was far slower than the accompanying 5.3 % year-over-year increase for -- stuart: is that sustainable? >> unsustainable. unsustainable. this tell us us why consumer credit is growing and also a reminds us that american consumers are depleting their cash balances. you have to have a pickup by income if you want to maintain this pace of spending. stuart: harris last night was asked about the administration's handling of the economy. watch this.

>> you have been vice president for three and a half years. >> yeah. >> the steps that you're talking about now, why haven't you done them already? >> well, first of all, we had to recover as an economy, and we have done that. i'm very proud of the work that we have done that has brought inflation down to less than 3%. >> you maintain bidenomics is a success. >> i maintain that when we do the work of bringing down prescription medication for the american people including capping the cost of the annual cost of prescription medication for seniors at $2,000. stuart: she goes on to say that she blames mismanagement of the economy by trump. finish. [laughter] >> he wasn't president. he wasn't in charge the past three and a half years. i want to add something. this is very important. no matter what consumer confidence survey you look at be it the university of michigan's consumer sentiment survey or the conference board's consumer confidence survey, these measures of confidence are down by double-digit percent drops.

one example is consumer sentiment for this month will be off by 30% from what it averaged in 2017, 2019. stuart: 30% down? >> 30. that is because not only of higher inflation, it's also off because i think people sense few opportunities, fewer job opportunities, growth opportunities. this past year college graduates fared very poorly in the job market. so she can say, talk all she wants, but the fact of the matter is in the minds of the average american, the economy was significantly better back in 2017, 2019. stuart: got it. john lonski, thanks very much for joining us. >> thank you. stuart: approval ratings for labor unions, my script says they've shot up, how much? lauren: yeah. near a record high, 70% -- stuart: 70%? lauren: -- approve of unions according to a gallup poll.

remember the hollywood strike last year, the teamsters with ups? if so many workers just walked off the job. so this suggests, to me, that union goodwill correlates with high inflation. higher wages needed to battle higher prices, to keep up with higher prices. but you could also make the other argument that higher wages are inflationary. stuart: yes, you could make that argument. [laughter] you could also say that joe biden has been very much in favor of unions throughout his presidency. lauren: yes, he has. stuart: coming up, kamala harris' paris interview didn't get to the heart of the matter which is what does kamala harris really believe? dana bash did very few follow-ups. harris played out the clock, the interview ended with fluff. that's my take, top of the hour. 200,000 people will attend the michigan state fair this weekend. it's the perfect place to take the pulse of the people. we're going to hear what rust belt residents think about the economy. that's next. ♪ ♪ instead of pushing the paper, just live your life ♪

[♪] can a personal loan unlock your ambitions? oh yeah. consolidate bad debt and save money for your next goal. sofi personal loans. low, fixed rates. borrow up to $100k. no fees required. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com

here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine, like google, but it's r and doesn't spy on your searchs and duckduckgo lets you browsel but it blocks cookies

and creepy ads that follow youa and other companies. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. with so much entertainment out there wouldn't it be great... ...if you could find what you t want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. ♪ stuart: oh, i wish i could -- the michigan state fair this

weekend, 200,000 people expected to attend. kelly saberi is there. the economy, temperature of mind for voters. what are they telling you, kelly? >> reporter: hi, stuart. we wish you were here too. you know, people we've been speaking to are talking about going back to school, how they have to pay for their kids' school supplies, new clothes, sports, all the things. and at $42 the a ticket, it's not just a question of, hey, what are we doing this weekend, it's really coming down to a discussion of how are we going to the pay for a family of three, four, five or more to come out and enjoy this labor day, end of summer activity? now, the $42 is all-inclusive, it gets you all the rides, but, of course, it does not include one of the main draws to the fair which is the food. vendors have told me their prices have all gone up since last year's fair thanks to the price of diesel which runs each and every one of these trucks and the rides as well. and the cost of ingredients, cups and other paper goods are all up as a well.

>> things have hurt us because we've had to raise prices. and that, unfortunately, has to pass on to the consumer. >> i think it's all looking up. i'm busier than ever. so the future's bright. >> food prices are 20-30% up. your housing prices are unbelievable. >> we have a smaller budget this year, but we didn't want to miss the fair. >> reporter: credit card debt is at a record high, $1.14 trillion in the last quarter, that's a 5.8% increase year-over-year. the cost of shelter is up 5.1% year-over-year according to the bureau of labor statistics, and food is up a little over 11 at home and -- 1% at home and over 4% when eating out. stu, a fun fact for you, the michigan state the fair, while it is small, it is mighty. it is the oldest in the country. that's a fact that they are very proud of. there was a period where it was shut down before they switched to the new location. new york's trying to say they're the oldest continuous one. michigan wants everybody at home

to know they are the oldest. stuart? stuart: i'll go with michigan. [laughter] thanks very much, kelly. see you again later. now this, j.d. vance reportedly calling on one billionaire venture capitalist to be back trump. lauren: his friend and former boss, peter thiel. stuart: thought so. lauren: he backed vance's senate bid, it works, he won. -- it worked, he won. but thiel has said i'm sitting it out this round, but i will vote for donald trump. j.d. vance told the financial times that thiel is clearly exhausted by politics, but he's really going to be exhausted if kamala harris wins. he said, quote, get off the sidelines to the times. stuart: check the markets, please. by the way, the nasdaq -- which is up 160 points now -- is now positive for the month of august, and this is the last trading day of august. still ahead, new policy proposal from trump, free ivf treatment. is that trump's answer to the

abortion debate? what does tammy bruce think about that? we'll ask riley gaines what she thinks about a college students being offered thousands of dollars to endorse montana senator jon tester. nine people have died due to the listeria outbreak. what happened? c. marty makary -- dr. marty makary will take it on. and steve hilton on harris struggling to say what she would do on day one. the 10:00 hour is next. ♪ ♪ if (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. (other money manager) but you still sell commission -based products, right? (fisher investments) no. we have a simple management fee structured .. er money manager) huh, we're more different than i thought! (fisher investments) at fisher investments, we're clearly different. things will go wrong for your customers. but your business can make it right, with watsonx assistant. built with ibm's granite models, it's ai that can help resolve problems by understanding your customer requests with 90 percent accuracy. let's create customer service in service of customers, with watsonx assistant. ibm. let's create. [door creaks open]

[floor creaks] [door creaks shut] (♪) (♪) (♪) relax, you booked a vrbo. (♪) power outages can be unpredictable, inconvenient, and disruptive to your life, posing a real threat to your family's comfort and safety. when the power goes out, you have no lights, no refrigeration, no heating or air conditioning. the winds are not letting up at all here. we're going to see some power outages. number one thing to prepare for is extended power outages. are you prepared? you can be with a generac home standby generator. when a power outage occurs, your generac home standby generator automatically powers up, using your home's existing natural gas or propane,

so your life goes on without disruption. you and your family are comfortable, safe, and secure. stay tuned, to get over a $500 value free on the most popular home standby generator in the world. with the generac, we don't have to worry about whether we lose power or not. if the utility company does not come through, our generac does. having a generac takes a lot of the anxiety out of, there's going to be a storm. after the hurricane happened, we just want to be prepared for anything. generac generators are designed, engineered and built in the usa. 8 out of 10 home generators are generac, and have thousands of satisfied customers. how many times have you heard people say, i never want to go through that again? well, the next time you go through it, don't make it so hard on yourself. have a generac home standby generator. call or go online now to request your free quote with one of generac's nationwide dealers. special financing

and low monthly payment options are available, and if you call now, you will also receive a free 5 year warranty valued at over $500. the call is free, the quote is free, and there's no obligation to buy. call or go online now, so the next time there's a power outage, your home powers up. power your life with generac. call or go online to request your free quote today. stuart: is that an attempt at flattery? that's what it is. to the money this friday morning, dow up