managers, movers and shakers all over the spectrum, even elmo and crew joined us at one point. i also brought my dog dusty in for a spot on air. dagen, as well, has enjoyed these great seven years. a big thank you to the staff the, the producers, everybody involved on this program and a thank you to our viewers and our fantastic contributors. that means you, mark tepper, and we appreciate you, rebeccah heinrichs are. thanks for being here. "varney & company" begins right now. stuart: we appreciate you with, maria, we really do. and good morning to you. congratulations. good morning, everyone. look, i was going to start with gas prices. yeah, they are up again. but i'm not going to do it. i want something uplifting, something joyous. so look at this. the sun is shining in london, and the four-day platinum jubilee has begun. 70 years on the thrown, the --

throne, the longest reign in history. 90 years old and much loved. strange, isn't it? a republic so interested in the british monarchy? by the way, harry, meghan and prince andrew did not make it onto the ball conmy. the queen did, and -- balcony. and she looked great. gas prices, regular up another 4 cents overnight to an average of $4.71. a year ago service the $3.04 -- it was 3.04. we're in an inflationary spiral, but the administration can't deal with it. the president committed there's the nothing to be done in the short term the about gas or food, and they're sending mixed messages. janet yellen says they were wrong about inflation being transitory, but biden has made no such admission. there is no the workable plan, and we are in an inflation spiral. let's get to the markets. signs of a slowing economy. only 128,000 private sector jobs reported for april. that is weak. the dow up maybe 1003 points,

s&p up -- 100 points, nasdaq up about 50 at the opening bell. oil prices steady around clash 114 a barrel as opec meets, saudi arabia is reportly ready to pump more oil if russian output declines significantly. the saudis will be doing president biden a favor, and there's talk aha in return biden visits saudi arabia. all right. got a few questions today. here we go. what now for the metoo the movement after johnny depp won $15 million worth of damages from the his former wife, amber heard? why is sheryl sand brg leaving facebook? if to preserve her legacy as meta platforms develops and faces the tiktok challenge? and why do i have tears in my eyes watching the jubilee? it's the because elizabeth has been queen almost all my life, and we may not see another celebration like this again. it's thursday, june 2 the end,

20322. "varney & company," the anglo american edition, is about to begin. ♪ ♪ ♪ don't turn around i don't want you seeing me i cry. ♪ stuart: gas prices up another 4 cents overnight, up 11 cents in the past week. the national average $4.71 for regular. good morning, lauren. ful. lauren: good morning. stuart: i do feel like a broken record. lawyer lauren i know. the president says there's the nothing he can do to immediately fix the problem. listen here. >> the requested we're going to be the able to -- the idea we're going to be able to click a switch, bring down the cost of gasoline is not likely in the near term nor with regard to food. lauren: and now you see the desperation measures, right in

reports that the president is actually planning a trip to saudi arabia. it would be an ice-breaking visit to get the saudis to boost production to offset lost russian production. and a lot of people especially when you talk to texas and north dakota say if he just stopped doing what he's doing, that could fix the problem. stuart: right. lauren: or because, like, say no regulations for the next two months. go ahead, just drill, do what you need to do. we can cosomething. stuart: but he can't do that. the greens won't let him. lauren: i know. stuart: they won't let him. lauren: but what he's doing now, turning to the our enemies to help, makes him more politically unpopular not in the party, but in america. stuart: i think you're right. let's bring in brian brenberg, he's with us now. brian with, do you see inflation at the 8% level where it is now, 8% level all the way through the

summer? >> stuart, i think it's going to be the higher than that in the key99 categories that really hit a lot of americans. when you're talking about the fuel prices, when you're talking about food. stuart, we're still not talking about the how much inflation is yet to come many that area. that's really going to nail families. that overall number could come down a little bit if the fed really gets aggressive raising rates, but that doesn't matter so much when these key areas are going through the roof. you could get that divergence between the core inflation and the headline inflation number, and that's what worries me, stuart, the headline inflation. because right now that's the number that matters to american families. and i don't think on food or fuel things are going to get better anytime soon, and the president is wrong that he can't do anything. he is dodging this issue. he could have been doing things for months. he could still do things. the fact that he can't stand up to his own party is absolutely no excuse for not doing anything

on this critical issue. stuart: brian, stay there, please. i want to check futures market right now, see where we're going when the market opens this thursday morning. i see a little bet of green, not that much. gary kaltbaum is here. this is a minor leagues rally. we had a bit of a rally last week as well. has it got any legs? >> i'm not so sure, and the reason is and, you know, you're talking about it all morning, this relentless move in oil prices. you know, in a few weeks we have earnings season coming around, and i'm pretty darn sure we're going to get some warnings beforehand. we already got one from snap. we've got some bad earnings from other countries which actually rallied them because they were could be so far. but i have a sneaking suspicionst going to be warning season because of these higher prices, and i think that's going to weigh on the market. of i'm not so sure this thing has legs. stuart: last week you told us you'd gone to virtually all cash. you got out at the right time.

how about now? are you buying anything yet, and if so, what? >> i bought a little bit on thursday, and i sold half of it yesterday. and it's just broad based. i'm not buying individual names just yet because i don't trust individual names. i just thought we're going to get some sort of countertrend rally. if it does terrific, i'll keep adding. but i decided after of a 25% drop in the nasdaq and an 18% drop in the s&p in just 16 days, we were overdue for a rally and so far so good. stuart: i'm sure you heard what jamie dimon is saying. he's saying, watch out, there's an economic hurricane coming right at us. does that factor into your market coverage at all? >> what people say, no, but what i see, yes. i put the numbers to it, and i try to compare to pre-cod have -- covid, stuart. consumers are spending almost an extra $300 billion over a year with basis on gas than they did

in 2019. that's a lot of cake, and that's a big problem and we're not even talking about the yet what the products petroleum is in. and then we get the food, when you go to the supermarket just a relentless move up in prices on just about a everything. and the hottest commodity in the supermarkets are the store names because they've cheaper than the brand names -- they're cheaper. stuart: gary kaltbaum, see you again soon. all right. white house officials are claiming that president biden's plan to cancel some student loan debt would not drive up inflation. "the washington post" editorial board disagrees with that. they call the plan an expensive and inequitable election year stunt. brian brenberg still with us. does debt forgiveness produce more inflation? the white house says it doesn't. what do you say? >> oh, yes, it does. i'm finding myself agreeing with the washington post editorial board.

that doesn't happen very often. it is inflationary. in fact, everybody knows. it has been inflationary, by the way, because all that debt has been on pause now for quite a long time. there's a wealth effect. when you don't have to pay back debt, you can spend that money. the problem is we're in an economy where the demand's not meeting any supply. so is, yes, it's inflationary. worse, it's a giveaway to those at top. the vast majority of the benefit of this goes to people who can pay it off, who should be paying it off. but the white house isn't buying an economic gain here, it's buying votes, and so they don't care that the payoff is inequitable, hay just want people to show up in november and vote for them because they're providing this giveaway, stuart. it's inequitable, and it's inflationary, two things we should not be going for. stuart: you got it. brian, thank you very much, indeed. relate me get to my -- let me get to my favorite subject of day. the platinum jubilee of the

queen began today in london. have you watched any of it? lauren: i have. i'm kind of obsessed with the pomp and circumstance and also the celebrity status of the royal family. obviously, like many people around the world, queen elizabeth is the only queen i've ever known. my mother was obsessed with princess diana, her style. and you see some of that in princess kate, which you're looking at right there. do we have the shot -- this is the 703 aircraft, the flyover on this balcony. and then prince louis, he's 4 years old, he covers his ears which you're not suppose supposed to do, and look at that. that's what everybody's talking about because the royals are real people too and we're obsessed with the crown, aren't we, as an american culture? stuart: i'm very interested in why americans show so much interest in this pageantry of royalty in britain. we're a constitutional republic. they are a constitutional monarchy.

we're obsessed with them. how come? lauren: i don't thinkst the politics, i think it's the grandeur. in my opinion, and i'm guilty as charged, we've become too casual as a culture, as a society. and when you look at these images coming out of britain, it takes me back to another time. stuart: that's the balcony shot. no, that's not the balcony of buckingham palace. it's the other side of the palace where the queen is looking out over the horse guard parade where they've just done the room thing of the color. when they go to the other side for the real balcony shot, that's where you're looking at them now, it's that red road in london, that's money shot. that's where they all congregate. in the right order of protocol. lauren: can i comment on her fashion? may i? i believe this is the a dove blue, parallel-decorated suit that she wore in her official

platinum jubilee portrait. stuart: there's the money shot. that's the one. there's the queen, young princes and the princess right there. you'll be seeing a lot of this. sorry, it's my show, i'm going to put it up. lauren: and we don't see harry or meghan. stuart: i hope not. we're up on the dow fractionally, down for the nasdaq the and the s&p. coming up, the treasury secretary admits she was wrong about inflation being transitory the, but the white house not so quick to admit fault. roll it. >> reporter: when are you guys going to admit that you were wrong about inflation? [laughter] >> no easy questions today. the president's economic plan, as we see it, is working. primary drivers of inflation are the pandemic and putin's invasion of ukraine. if. stuart: the blame game, here we go. we're on it for you. president trump vows to fight even harder after the acquittal of michael sussmann,

clinton's former campaign attorney. sounds like he's running in 2024. we'll deal with it. ♪ ♪ do you, do you want my love, woman? ♪ do you, do you want my -- ♪♪ living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven

to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor start an anti-diarrheal and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you're nursing, pregnant or plan to be. every day matters. and i want more of them. ask your doctor about everyday verzenio. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates,

whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. it■s hard eating healthy. unless you happen to be a dog.

municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217

♪ let the good times roll ♪♪ stuart: well, i like the cars. seem like a decent song to open a block with. that is jacksonville beach, high today of 86 degrees. the futures pointing ever so slightly higher for the dow industrials and a fractional gain for the s&p, down for the

nasdaq. not much change at opening bell this morning. now, after former clinton attorney michael sussmann was acquitted, this is what president trump told fox. roll it -- not roll it, i'll read it. anything, this verdict makes me want to fight even harder. if we don't win, our country is ruined. we have bad borders, bad elections and a court system not functioning properly. our country is being systematically destroyed. mercedes schlapp joinings us this morning. sounds like president trump is planning to run in 2024, but he seems determined to keep looking backwards. the last election. you comfortable with that? >> look, stuart, i think that he's looking forward as well. i think that's the primary focus for president trump. it's clearly that the he's seeing our country basically fall apart with these leftist policies, with biden's approach on how he's handling or mishandling the border crisis and our economy as you all are

watching closely. but i think the president will continue to highlight some of the, i think, situations that we saw in the past. when you have lower spending -- muller spending -- mueller send -- spending over $30 million during trump's presidency when he was focused on pushing forward an america first agenda, yeah, the president's going to be a little pissed off. but i hope he goes back to what we need to focus on which is that the american people are hurting, and we need real strong economic solutions to make sure we get this inflation under control, that we're able to jump-start our economy again and not fall into a recession. and we know when it was president trump who was in power and leading this country, we had a strong the economy, jobs were being created, and he also fought hard to make sure that we would have the covid vaccine through operation warp speed.

lots of successes under president trump or that are being destroyed by president biden and his team. stuart: throw. do you think it's -- true. do you think it's mr. trump's plan to endorse a lot of candidates going into this november's elections and then when the republicans probably take control of the house and maybe the senate, use that as a platform, a springboard to run to get the nomination for to 2024? i'm told that's the game plan are. is it? >> look, i think it's likely that president trump will run. i think he would want to announce sooner rather than later, but i think it's important to wait until after the midterm elections because it is going to set the stage for republicans to go back in control of congress and stop president biden's agenda. quite frankly, the democrats haven't been able to pass much in congress these days. they're actually creating their own gridlock. and i think for president trump it puts him in a very strong position to run. look, when you have the

independents and even some of these moderate chem do accurates leaving president biden -- democrats, they don't want president biden to run in 2024, it's a party in disarray, and president trump has an opportunity to say, look, to i've got the right plan to get this economy going. we've got to get our borders under control. we also have to be the strong from a national security perspective when you have threats like china and russia, and that's going to be, i think, an important platform for the president to run on and focus on as we go into 20 the 23, stuart -- the 2023, stuart, which is a long way million the presidential election. stuart: yes, it is. mercedes, always great. thanks very much for being here, thanks a lot. >> thank you so much. stuart: question: when did president biden become aware of the baby formula shortage? when does the president claim he first knew about it, lauren? lauren: he says april. although the white house says, well, yeah, we knew about it two months before that, and that is the problem. here's the president on the disconnect.

>> the shortage of baby formula is due to the closure back in february of one of abbott's formula plants. we needed to take immediate action to stop contamination, contaminated formula from hitting sore shelves and putting american children at risk. i became aware of this problem sometime in, after april -- in early april about how intense it was. lauren: so white house knew in pen, and the company -- in february, and the company also forecast this was going to be a really severe problem. one of the executives meeting with the president at the white house yesterday, he said right away we contacted major retail theres like walmart and target to say this situation's going to get bad, right? when does it get better? the good news is that on saturday abbott says it plans to reopen their michigan plant that's been shut down because of contamination. that doesn't mean it's up and running right away, but it will reopen on saturday.

plus, with the millions of bolts of formula flown in from overseas, hopefully it'll be coming in the next few weeks. stuart: we would hope. connecticut is looking to hire a misinformation specialist. explain -- lauren: a your for -- job for $150,000? if -- okay, so you police the internet ahead of the midterm elections and look for posts with false information and try to find them before they go viral. then you urge the social media companies to the flag the post or remove it entirely. connecticut is spending $2 the million on marketing -- 3 the 348 to -- 2 million to get it out there. colorado, california, some others are working at the state level to combat misinformation. stuart: all right. i'll leave it there, shall i? if. [laughter] look at futures, please. this is the direction we're going in when the market opens in the seven minutes' time. down for the nasdaq and s&p,

slightly higher for the dow. the opening bell's next. ♪ ♪ meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank.

(vo) singing, or speaking. reason, when you start with care, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. (mom allen) verizon just gave us all a brand new iphone 13. (dad allen) we've been customers for years. (dad brown) i thought new phones were for new customers. we got iphone 13s, too. switched to verizon two minutes ago. (mom brown) ours were busted and we still got a shiny new one. (boy brown) check it out! (dad allen) so, wait. everybody gets the same great deal? (mom allen) i think that's the point. (vo) iphone 13 on us for every customer. current, new, everyone. on any unlimited plan. starting at just $35 all on the network more people rely on.

♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

fortitude gold producing high grade low cost gold in nevada usa. a gold investment delivering monthly cash, dividends and substantial yield. fortitude gold. in two seconds, eric will realize (laughs) they're gonna need more space... gotta sell the house. oh... open houses. or, skip the hassles and sell directly to opendoor. wow. get your competitive offer at opendoor.com

stuart: look at futures, we're pointing south just a little bit across board right there. d.r. barton's with us to cover the markets this thursday morning. in recent years i've noticed that june has been a pretty good month for the stock the market. what do you see happening this june? >> well, you're pretty astute, stuart, because if you look all the way back to 1950, june has been a very average month, and in midterm presidential years in the cycle, the presidential cycle, june has been a pretty lousy month. but the last 10 years it's been really strong. so i think after the horrible may that we had, we've got a really good chance to have some little bit more rebound here in june. stuart: so does last week's rally have legs of any kind? >> well, again, we looked at the numbers going back, stuart, and

with that big 6.if 6% -- 6.6% gain in the s&p 500, what we say when we have weeks that are that strong is that a year later we've had 28 different inanswers with weeks that big -- instances with weeks that big. and out of that, 24 of them have been up a year later. so usually when we get a big rebound even in bear markets like we're in now, that leads to some further upside down the road. stuart: so if i bought more microsoft or whatever today and held it for a year, d.r. barton says i'll be okay. >> i do, and i especially like that microsoft pick, stuart. i think that and amazon are both going to do really well -- stuart: hold on a second, before you get carried away with microsoft, left-hand side of the screen, microsoft is could be about 3% -- down about 3%. special circumstances.

d.r., we'll call it quits at that. we're going to open this market in about 20 the seconds' time. i'm looking -- quite a selloff there for microsoft. susan is going to explain that one in just a moment, but it is a big selloff. $8 lower, 3% down for microsoft. important stock. all right. we've got 7 seconds to go, they're clapping, they're cheering, they're ringing the well. we're going to -- the bell. we're going to open the market without that much stock price market. right in the very, very early going not looking for that much movement. we've got a dow that's gained 40 points. that's just a fraction of a percent. as for the s&p 500, that that has opened basically dead flat. and i think it's pretty much the same story for the nasdaq composite which is actually down one-third of 1%. now let's get back to big tech because they're all over the place. amazon is up again, but looked a microsoft. it's down $9, 3.5%.

3.6%. fortunately -- don't worry, everyone -- susan is here. susan: your not going to like this. the. stuart: what's in the about -- susan: so the wall street earnings game is that you set the estimates low. all of a sudden microsoft today, this morning, just in the 15 minutes, said we are going to slightly make less sales, less profits in the springtime because of the strong u.s. dollar. and as you know, the dollar has rallied in the stock market selloff because it's seen as a safe haven especially in light of anticipated higher interest rates. and i was looking at the cut in their guidance. it's not if all that much. i did the math for you, it's 2-5% less hand what they had announced or guided for in their lars everybody -- last earning, so it's not a big deal, but it is it is in the context of the wall street earnings game. they set the standards low which hay already thought they did at the end of the first quarter, but now they have to go even lower 3w5u6 that higher and

stronger u.s. collar. you heard from marc benioff and salesforce yesterday how the strong dollar's impacting their business in terms of how it's brought back into u.s. dollars especially if you're in other markets, the yen in japan when they have a weak currency, it makes your bottom line look less when you translate it into u.s. dollars. stuart: that shaves nearly 70 points off the dow industrials, microsoft. another big question is sheryl sandberg stepping down at chief operating officer at facebook. why is she doing this now? susan: well, i think there's a lot of speculation on the timing because service the definitely abrupt. if -- it was the definitely abrupt. if you read "the new york times" article, she only gave three days' notice to founder mark zuckerberg. she call called him this weekend, according to that report, because she wanted him to be one of the first to know. but for the second in command of one of the largest companies on

the planet, usually these announcements are carefully orchestrate thed, transitions planned months in advance. so the fact that she only gave him three days' notice, that really stood out to me. she's saying -- staying on until the fall, zuckerberg, i thought he wrote a glowing post thanking her. sheryl was such a big force in meta, right? and you can't, i think you can't really argue against her successful when she came in in 2008, right? it had $1503 million in sales. -- 150 million in sales. stuart: maybe she's getting out now to protect her legacy which was a fine legacy to leave at facebook just as facebook goes into met a that platforms and faces this challenge from tiktok. maybe the timing is important because of the challenges faced in the future. susan: and she's had a tough

five years, cambridge analytica, that "wall street journal" report earlier this year that she may have helped her then-boyfriend with some possibly bad press in the daily mail. there was an internal investigation into that at facebook. but also just to pivot in the transition to the metaverse and this virtual reality world because there are reports that maybe she's not onboard and this is not something that she believes in personally should be the future of facebook. stuart: okay. they should do a tell-all book, and we'll find out a couple years down the road. amazon, i've been following closely. they've bonn -- been on a terrific run recently. susan: up until this morning, which it's being dragged right now by the microsoft cut in guidance because a lot of people are thinking, well, if microsoft is going to do this with steady cash flow, what are other technology companies going to do with the strong u.s. dollar. so you've had the best five-day run in seven years, up nearly 20 the % and, of course, leading up to that 20 for 1 stock police on

friday, i wonder if stu varney might be enticed by that? [laughter] it's so much cheaper, $100 for amazon shares. when was the last time you saw that? if i think it was the late 19903. stuart: that was the last time i interview ised jeff bezos. susan: in 1997? if suit stuart yeah. he'd introduced this book selling -- susan: did you think that a bookseller would turn into a cloud juggernaut? stuart: no. susan: a lot of people saying amazon is worth buying into, the salesforce numbers showed there is the a cushioning for cheese companies -- stuart: i'd never heard of the cloud. susan: well, no, that came about 2010 two. i also want to note it's not amazon, other stocks have always rallied into their splits. think of tesla, apple, also google which is splitting as

well on july 15th. shopify and tesla might break into smaller pieces. stuart: next, gamestop. they reported after the bell yesterday. down 4% this morning. is the meme trade the over? susan: well, no. you know, that's interesting because with gamestop actually, i would say, had a pretty good first quarter. they narrowed their loss, smaller than what wall street had anticipated. they're, from what i see they had strong sales growth. that was higher hand what wall street had penciled in. yeah, okay, you have losses still, but they're saying those losses will narrow as the year goes on. people are, by the way, shopping and going back into the stores. you have this turn around taking place with ryan cohen, chewy's cofounder, and i understand he also wants to start an nft marketplace by the end of the second quarter. but, again, i think this is the microsoft effect where everything is just going down right now in the technology and nasdaq. stuart: if microsoft adjusts its forecast down, everybody else

follows suit maybe. snap and pinterest. both of them are have had pretty rough years. have they got any decent news on the horizon? susan: piper downgraded both, and i call in the meta effect as well. down 50% from their peaks, and there are concerns about slowing advertising sales growth, right? and you have piper downgrading in the. pinterest, to them, is neutral from overweight, so it's the only worth $23. and also from what i see snap, which started this whole downgrading of their guidance, right? that to them, only worth $18. so the social media and recovery in advertising spends. stuart: you know, the market opened pretty flat. now it's urn thed south pretty much across the -- turned south pretty much across the board. the dow is down 100 points. the 10-year treasury yield, we've not dealt with that this morning, 2.90% --

susan: do you think there's a safety trade there too? stuart: it looks like it. susan: especially with microsoft. ooh stuart is fourth -- stuart: could be. how about gold? doesn't cothe much. susan: safety trade. stuart: bitcoin, 29,7, as we speak. and oiling with the beginning of the opec conference overseas, they may boost saudi production if russian willing production if goes down. crude oil at $115 a barrel. look at nat gas, very close to $9. the average price of a gallon of regular, a 4 cents' gain just overnight, and look at california, please, $6.21 is the average for regular are. coming up, are bidding wars a thing of the past for home buyers? i'm not seeing as many in florida, and i follow it close arely. i'll ask housing expert mitch roh shell about that next hour. new york city taking a page out of tesla's book. mayor adams says no more working

from home. all city workers must come back to the office, can he make that stick? johnny keep wins his defamation case. what does that verdict mean for the metoo the movement? we'll answer the question after this. ♪ -- to a woman so heartless. ♪ how could you be so heartless? ♪ (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products.

we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different.

stuart: johnny. depp won his defamation case against ex-wife amber heard. the jury awarded him $15 million. brian claypool is a criminal defense attorney and joins me now. what is the impact of this verdict on the me too movement? >> hey, stuart. this case was always bigger, there was a lot at stake. if depp wins like he did, is this going to quell other women

or men too from coming forward and reporting sexual or physical abuse? and if amber heard had won this case, then this would have empowered women and men to come forward. so what's the met effect of this? i think a lot of victims of domestic abuse are going to be more reluctant to come forward. why? because they might be facing a lawsuit like this. they might be facing a public battle to the prove what happened. but look, stuart, at the end of the day if somebody is a domestic abuse victim and they're telling the truth, there's a strong likelihood they're not going to be the going after somebody like johnny depp who is one of the most famous actors of all time. so i would encourage victims of domestic violence to still come forward. stuart: i don't think johnny depp was in this for the money, was he? he wanted his reputation the back. that's his motivation, i think. >> yeah, great point. this was really two trials in

one. this was a trial in the court of public opinion, and it was a trial in a legal court. and to your point, johnny depp didn't even show up for the verdict because i think that he thought the he had already won this case in the court of public opinion. he wanted to rehab his reputation. and if by all means, he had done that because it was a landslide victory, stuart, in the court of public opinion. stuart: it was. now, i understand that amber heard may be planning to the appeal this verdict. if she does, could the drag on for a long time to come? >> yes. i've done a lot of civil jury trials, stuart, and it's not uncommon after somebody loses a case, especially $10-15 million, to file an appeal even if they don't have a lot of traction on the appeal. ing why? because what that does is if it's going to -- like you said, it's going to drag out for two, three years. it gives an impetus to depp, for

example, to settle the case out of court for less money. so maybe heard gets a few million dollars knocked off the verdict amount because she's dragging this out for 2-3 years on appeal. that said though, stuart, i do think amber heard has potentially a basis for an appeal, and that is all this evidence that was put on during the case of amber heard hitting johnny depp, amber heard being the abuser. in my opinion, i think that evidence should not have come in because it's what's called in a civil court inadmissible character evidence. remember, johnny depp never sued amber heard for i assault or battery. he sued her for defamation, so i was surprised that all this evidence of amber heard's violence came into evidence during the trial. stuart: brian claypool, thanks very much for being with us. great coverage yesterday on fox news. i was watching you. >> i appreciate it. stuart: if you want to know more, we have fox nation specials for you, who's amber heard? who's johnny depp?

available now to stream on fox nation. dave portnoy taking aim at the washington postfor their role in the defamation case. what's he saying? lauren: he's saying paper is responsible because it gave her a platform and did the not vet her story. >> my question, she posted this thing basically saying johnny depp hit her, abused her, can did all these horrible things, sexual deviancy, all this stuff in "the washington post," and what's "the washington post"? they hold no responsibility in this? that's why the washington post is clearly very left wing. they just can print whatever they want and then when it's total [bleep] and a guy, his life has been destroyed, oops, we didn't know. lauren: during the trial it turns out at least the first version of that opinion piece was written by the aclu and a washington post editor wrote the headline of the piece. she's still accountable, but -- stuart: i didn't know that.

one more for you. do you remember slap seen around the world? jada pinkett smith is opening up about the incident. what is she saying? lauren: my opinion here, tone the, message, all on point during her red table talk, that's her platform. she opens up, first she talks aboutal peer shah, and then the moment we've been waiting for. >> now, about oscar night, my deepest hope is that these two intelligent, capable men have an opportunity to heal, talk this out and reconcile. the state of the world today, we need 'em both. lauren: it was a clean statement. but this story is another celebrity-fronted story, right, that takes on a cultural issue. in this case, free speech. comedy. what's appropriate, what's not. and, you know, the american public is obsessed with these stories whether it's rile or the slap because there are issues that we face many our daily lives.

stuart: you got it. all right, lauren, thank you. next case, electric vehicles. we know they're pretty expensive right now, but we understand a price war is coming. at least that's what ford says. i'm going to talk to one of the top guys in just a moment. as we go to break, a nice look at london. that's the balcony shot on the right-hand side. that's where the queen and the whole family get together. but not meghan, harry or prince andrew. more coverage of this throughout the day. ♪ to all of the queens who are fighting alone -- ♪ baby, you're not dancing on your own. ♪ disobey me then, bake -- baby, it's off with your head ♪♪ ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina?

hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire we got the house! matching your job description. you did! pods handles the driving. pack at your pace. store your things until you're ready. then we deliver to your new home - across town or across the country. pods, your personal moving and storage team.

first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. ♪ baby, your electric the loveing electric love ♪♪ stuart: dayton, ohio, cloudy this morning. 67 degrees. all right. let's go to ford, ramping up their electric vehicle production. they have of a goal. they want to make 2 million electric vehicles every year globally by the tend of 2026.

the president of ford blue returns to our program this morning. kumar, look, i've got to tell you, my interest is in price cuts for electric vehicles. your ceo, jim farley, says we could see evs available in a $25,000 price range. when are we going to see an electric vehicle from ford at that price? >> good morning, stuart. thanks forking having me. it's difficult -- for having me. it's difficult to predict precisely when, but i would say the9 latter part of this decade we'll be -- all of us will have installed sufficient capacity for electric vehicles, and the technology costs will be coming could be can, battery costs will be coming down. if so i could see that in that time frame. speaking of capacity, that's precisely what we're doing today,s installing for capacity for an all-new electric vehicle here ohio and that the will, of course, help with the pricing.

stuart: you want 2 the million electric vehicles by the tend of 20 the 26. that's going to require a real ime improvement in the supply chain. it's going to mean a real change in the number of hips that are the available to you -- chips that are available to you, natural rouses available to you. can you get everything you need for 2 million evs by 026? >> absolutely, stuart. we are working on that entire supply chain from the raw materials to battery cells, our joint ventures that are going to build those batteries and, of course, installing the kind of capacity we're announcing today. $3.7 billion of investment, 6200 new jobs both here in ohio and michigan and kansas city for products like the transit, the electric transit, commercial evs as well as products like the miss if tang and the ranger. store stuart i'm sorry we're so short on time, but we appreciate

you being on the show. great to hear your plans. see if you can speed up production of the lightning, please, because i'd like one. [laughter] kumar, thanks for being here, sir. see you again soon. thanks a lot. >> thank you. stuart: ford's stock up about 1% on this news. rest of the market heading south. dow's off 185 points. coming up still ahead, nigel farage, ben domenech, theologian jonathan morris and kennedy. the 10:00 hour of" varney" is next. ♪ ♪ hunt you down, eat you alive -- imus: -- ♪ just like animals, animals ♪♪

.. meet ron. that man is always on. and he's on it with jardiance for type 2 diabetes. his underhand sky serve? on fire. his grilling game? on point. and his a1c? ron is on it. with the once-daily pill, jardiance. jardiance not only lowers a1c... it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight. jardiance may cause serious side effects, including 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 taking jardiance and call your doctor right away if you have symptoms of this infection, ketoacidosis, or an allergic reaction,

and don't take it if you're on dialysis. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. a once-daily pill that goes beyond lowering a1c? on it with jardiance. ask your doctor about jardiance.

stuart: good morning. it is 10:00 eastern. straight to the money. the dow is down 180, the nasdaq town 13, s&p down 17, modest selling on wall street. the 10 year treasury moving up to 2.94% hurting big tech. crude oil moving up one%, one hundred $16 a barrel. bitcoin dropped below 30 grand,

now at 20,800 on that particular crypto. it is thursday morning, 10:00 eastern. that means mortgage rates are down. lauren: they are, 5.9%, down from last week. a year ago 2. 9%. this is the trend. rates are moving down slightly but mortgage demand, lowest level since december 2018. the problem is home prices are still very high and you have an economy that is slowing. buyers are saying we are going to back away. stuart: more on this coming up later. now this. the administration is confused about inflation. consumers and voters are not. they see it, they feel it every day and don't like it. you would think the biden team would take note of this and respond but they are tone deaf. on a day that gas hit yet another record high the president said it short-term

there's nothing to be done, food prices, you're on your own. may maybe the president should send in kamala harris to find the root causes of inflation. better not look too hard, the root cause of this disaster can be find in biden's policies, the root cause goes back today one of his presidency from the get go biden abandoned energy independence and embraced the spending and printing of trillions of dollars, that started the inflation ball rolling and it started before putin invaded ukraine. biden will do nothing to correct his policy mistakes, won't bring back energy production and won't cut spending. in fact he is still pushing another trillion dollars in spending and tells us it is part of the plan to fight inflation. how wrong can you be? as the wall street journal points out today the inflation debacle is the failure of progressive policies. it will cost the democrats the house and maybe perhaps the senate.

hopefully inflation kills america's brief enthusiasm for socialism. second hour of varney just warming up. that is interesting question. will inflation deflate enthusiasm for the far left progressive policies, here to enter that question is been dominic on the right-hand side of the screen, will it deflate enthusiasm? >> i think it already is and the reality the democrats are running into is this is a choice, the choice they've made and frankly a lot of there are further left economic supporters have been advocating. they believe they can spend this money without consequence and they wouldn't be negative ramifications for the average american consumer and they have been proven wrong, this is something is much as they would

like to laid at the feet of land reboot nor turn it into something about a foreign-policy situation this was something if they started the ball rolling on from the minute the biden administration showed up in washington and obvious steps they can take to address this particularly on the energy policy front that they are unwilling to do it because they are beholden to the progressive left. >> reporter: if the president stood up this morning and said we are going to move heaven and earth to increase america's domestic energy production, fix the permitting process, drill like crazy, if he did that, the futures market would reflect that and the price of crude oil and gasoline futures would come down. i am convinced of it but he can't do it, the left won't let him. >> the left won't let him in the funny thing is there's an obvious compromise he can do here. there would be willingness on capitol hill and the senate to trade long-term green energy

policies for short-term help to fuel the prices at the pump, anyone who can work across party lines as president biden used to be prior to occupying the presidency, he used to have that impression on capitol hill but is not doing that deal because the left flank of the party controls the agenda, after this november where you see a generation of leadership swept out in younger more powerful voices on social media and -- among the democrats. stuart: how about challenging the climate crowd head on, the limitation of co2 emissions, they are never going to meet those targets. the number of emissions is

going up despite the un's agreement, when will we see a review of green energy policies that is realistic? >> we deserve to be having that right now. a handful of voices advocating for steps that would lead to a better energy situation in the country particularly those pushing for nuclear power and other solutions that are not going to tie us to foreign sources of energy they unfortunately are not being listened to on the left anymore, they are so wedded to this climate agenda it is like a religious doctrine for the man people are paying the price for it, there always was this portion of the left that believed they were morally right in order to advocate for this and when you are paying these higher costs it is something that is good because it is part of the indulgences you have to pay because of how we have treated the planet. i think it hurts the american consumer and is not good in the

short or in the long-term. stuart: it is an indulgence from 500 years ago, thanks for joining us, we will see you again soon. the ceo of jpmorgan is warning of real economic trouble. >> it is a hurricane, right now it is kind of sunny and doing fine, everyone thinks the fed can handle this, that hurricane is right out there down the road coming our way, we just don't know if it is a minor one or super storm sandy. you better brace yourself. stuart: brian belsky is with us, he says brace yourself for an economic hurricane, you are a stock guy, you look at the stock market, do you factor that kind of economic forecast from a leading banker into your stock market calculations? >> great to see you, thank you, yes and no, we respect and

listen to mr. diamond, a wonderful ceo through several cycles with respect to his leadership first at bank one and jpmorgan but at the end of the day we are investors, look forward, a lot of economic data looking backward. a lot of the storm he's talking about is present right now. it is our view the storm with respect to inflation could fall off faster than everybody thinks. again we are talking companies in the united states that the last ten years have done a really great job under promising and over delivering and he has a much different tone than other ceos that that is okay, that is why you have to be a stock picker, i don't think it applies to all banks oral companies but clearly there are issues that will be lingering in the markets for a while, so market will look past some of this and the weakness and volatility that we see so

far in 2,022 speaks to what mister diamond on what he said. >> reporter: it is the forecast of your company that inflation will simmer down, that it will tail off fairly soon, 8% now, your forecast is that it comes down from there. >> our official forecast for the economic department is lower inflation by year end and from a stock perspective it could be faster but at the end of the day it will be lingering for a while, the key thing the next few months is going to be how earnings come out, the market is priced in the next 250 basis points and the key thing will be the month over month ppi print. from my perspective from an investment strategy perspective i think it could fall faster than everybody else thinks but i'm just being contrarian but i do think the inventory increase

we've seen in retail is a sign that it is coming faster than anybody knows. stuart: we like to hear that, thank you for joining us, see you again soon. back to the market and some of the movers. chewy, 15% up. lauren: their sales were stronger-than-expected. they are stranded on stock twist and the bottom line is people spend money on their pets no matter what. stuart: a lot of people got pets during the pandemic. lauren: 70% of its value in the past and their margins took a major hit in this quarter, they are trying not to pass along higher costs to the consumer but for the most part there consumer has been resilient. lauren: show me blue apron, up $0.60. lauren: it has a deal with walmart that you can buy their meal prep kits at walmart, you

don't need the monthly subscription which is attracted to a lot of people commute going to a store or go online, you contrite and not obligated to pay the monthly fee. lauren: that is a good idea. lauren: a free two months but you have to remember to cancel it. lauren: you walk into walmart pick up the box and take it home, some plans that. what is with your storage and what do they do at 18%? lauren: 50% earnings in their net revenue and they increase their revenue guidance. stuart: i sought on the script, cold storage, i saw cloud storage. at least i am honest. look at walmart please, they want to use their stores to catch up with amazon in e-commerce. >> they have 4700 stores and they are using them as places you can drive and go shopping and where the drones can eventually come and pick up product to bring to your house

so you don't have to leave the house and you can get your item fast and also places where a third-party sellers can keep their stuff and have it packed and shipped from the store. they are using their huge brick and mortar footprint to compete digitally with amazon. >> reporter: smart company. >> always spending money and keeping up. stuart: johnny depp when his defamation trial against his ex-wife amber heard. what does that mean for the me too movement? we keep asking that question all day long. kennedy will take it on in our 11:00 hour. donald trump giving stronger hints for a 2024 presidential run following the acquittal of michael sussman. we have the story. russian forces take majority control of the key ukrainian city in the donbas region. mike tobin is on the ground with the latest report next. ♪♪

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

as a business owner, your bottom line matching your job description. is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts...

saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™

stuart: the dow came back a little bit, we are down 78 and the nasdaq has improved, we are up 73 but microsoft, it had been down $8, $9, $8, 9%. it is combat, only down $4.92. they toned down future guidance just a little, stocks down, microsoft as a dow stock is shaving 40 or 50 points off of the dow industrials. i do feel -- let's get to ukraine. much of the country getting back to normal but some parts remain deeply involved in the

fight. mike tobin in kyiv. where's the fighting most concentrated right now? >> reporter: in a couple areas, the southern city of kherson where ukrainian forces are attempting to take the town back. to the east you have donetsk, ukrainians are falling back across the river that has stymied the russian forces and killed a lot of the russian forces. in the center of the country you have these war-ravaged towns, the horrors they have endured. >> much of ukraine rebounds, the people are changed by the atrocities. she is assembling an album of her husband, he went on bicycles with his son for aid delivery, food and were stopped at a russian check point.

>> translator: when my father began to turn toward my son two shots were fired at him and two shots at the child as well as when the child fell, a third shot was fired in the direction of his head. >> reporter: this town has come to symbolize war atrocities, nothing is better evidence of that than this disturbed soil. there were so many dead left lying in the open that a local priest organized a mass grave next to the church. in the end, 112 people were buried here. allah tries to focus on the sun who survived the shooting and the other two. she spent her career raising the kid, now she has to pay the bills. >> reporter: our family was provided for by my husband, we turn to a psychologist for help. i tried not to be left alone. i went to work and currently trying to be engaged in something so there is no free time. >> reporter: arena is the prosecutor general ukraine, she

says 300 war crimes take place every day. she has 100 prosecutors on a job at the promise to see that every war criminal is held accountable. stuart: let's bring in morgan ortagus. president biden says this new military package with the new rockets will give ukraine a stronger hand at the negotiating table. does that mean the president is pressing for a standstill as opposed to pushing russian troops out of ukraine? >> reporter: i think that is probably right but the problem is it is taken 3 months for the president to give these weapons to the ukrainians and they are not giving them long-range shells, they are giving them shorter range version so that these weapons won't be able to reach into russian territory because they think biden and the team is worried about antagonizing putin and to me that is a miscalculation, you

want the ukrainians to get to the negotiating table with the strongest and possible. if you let the russians and putin control the battlefield and don't give the ukrainians the ability to push back on the russians are always dictating terms to others at the negotiating table weather is on the battlefield and listen, it is a precarious challenge for vladimir put talking about a nuclear armed power, he has a few screwball's loose but it is important to note that while we have all been impressed with what the ukrainians have been able to do the last 3 months especially since our intelligence community said kyiv would fall in a few days, that was clearly wrong, we've been impressed with the ukrainians, the realities they are losing a little bit of ground every day so you are not going to get plan reprint to the negotiating table unless you can for some there from a position of strength. stuart: i want to win.

i think winning in ukraine is pushing the russians out. that is winning. i kind of feel that the europeans and the biden team are getting together to limit this war, limited duration of this war, to settle it in place so we can get beyond it. they don't have an interest in really winning, beating putin, they have an interest in peace, to settle things down which i'm not sure is the right way to go. last word to you. >> reporter: that is right. you would be a good candidate for secretary of state in the next administration. the problem is the war happened in the first place which i was quick love because we failed to deter putin and in these half measures telling the ukrainians you will get putin invades, then it takes three months to

get ukrainians the weapons they need to defend themselves, some sanctions but not all will sanctions, the europeans talking about cutting off 65% of their russian energy exports by the end of the year but the caveats for good behavior like we could go back to business as normal next year. what you're saying and i'm saying is the same thing but i think the biden administration and especially germany and france are interested in getting back to business as usual because ultimately they don't want to do the hard thing, the hard thing it's to stop energy exports, to cut off the banks, the hard things are to treat russia as a power ride state, don't want them to be a pariah state but coddled putin into oppose vision, into negotiations so they can get what they want next year. stuart: i'm not sure i like the way it is going, thank you for

being here, appreciate it always, the fbi director is chris ray and he says russia and china are using cyber attacks to, quote, things we depend on. do we know of any attacks on things we depend on? >> reporter: russia likes to target our energy infrastructure, china our national security secrets, corporate secrets, private data and iran last summer tried to get into boston children's hospital. the fbi was able to thwart that attack, protect the hospital and kids that rely on it. christopher ray in his are marked yesterday at the cybersecurity conference said it is about constant dialogue and sharing of information between state and private entities, russia, china and iran, these bad actors constantly trying to get into our most sensitive systems whether it is infrastructure, law enforcement, schools, hospitals, they really want to mess of us society. >> reporter: we've not reported on a significant break into a major institution or facility to my knowledge.

lauren: so far it has been okay. stuart: president biden forgiving student loan debt for half a million borrowers. the democrats are pushing the move as a way to fight inflation. hillary vaughan has that story coming up next. france has elevated bishop in san diego after the san francisco archbishop denied speaker pelosi communion. theologian jonathan morris takes on next. ♪♪ i got to have faith ♪♪ i got to have faith ♪♪ meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation.

♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. (vo) singing, or speaking. reason, when you start with care, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything.

stuart: we still aren't the same position in the market except the dow has looked further south, down 270, modest losses for the s&p at nasdaq. looking at moderna, big drop, 8%, what's the story? lauren: the vaccine delivery to the european union will be delayed by several months so this quarter to early 2,023 there's been a drop in demand, last week switzerland said there destroying 600,000 doses because people are either vaccinated or don't want to be

vaccinated again, that is a problem for moderna. stuart: there is a pullback from new vaccinations, that is what is happening. next door they are moving and who are they? >> neighborhood social network, next door, up 10% today because they are buying back their own stock on the board approved the share repurchase, that's a sign of confidence, the stock is $3, 80% of its value since it debuted on the public exchange last november. stuart: a lot of gossip on that, land's end is searching at i want to know why. lauren: the earnings report was terrible, revenue missed expectations, the forecast was weaker than expected, e-commerce online sales are down but stock is up 8%. it was up 8% and now it is down. blue when you're honest, remarkable.

stuart: the white house is taking the biggest step yet to forgive student loans. hillary vaughan has a story, details please. >> reporter: the administration announcing today the student loan forgiveness applies just to people that went to corinthian colleges, applies to 650,000 borrowers totaling $5.8 billion in debt total government is forgiving but the biden administration is not ruling out more student loan debt forgiveness, a senior administration official saying more could be on the way because progressives are pushing to make this happen before the midterm election but republicans were that would make high inflation worse but the administration says they are not too concerned. >> the impact on inflation in the near term is likely to be quite small, but because the president hasn't made a decision we are not talking about a specific plan most of

the analysis suggest the midterm impact would be pretty small. >> reporter: the president does want to cancel $10,000 of student debt but means test the program so people can make under $150,000 a year can cash in on the benefit but the washington post editorial board blasted this idea saying tax brown when he would still be used to pay off people's loans that went to law school and med school saying these provisions while welcome would not stop the policy from becoming another taxpayer-funded subsidy for the upper-middle-class, the president's means test would almost be useless as some 90%, 97% of borrowers would still qualify for forgiveness as one group says biden's dream of canceling at least some debt will come at a cost saying the estimate is this will cost $230 billion and would worsen inflation is increased cost of higher education.

stuart: have i got a story for you! pope francis elevated a progressive bishop in san diego, made him a cardinal. he went from bishop to cardinal just like that. that follows the san francisco archbishop who denied speaker pelosi communion. that is a theological split. >> it is an american story, global story, one of the strongest levels of power the pope has is naming bishops because that changes the face of catholicism in a region. if he chose to elevator bishop in san diego was widely known as a qualified, educated, good human being but is the most progressive i would say of the

major bishops, the real leader of the progressive left of the catholic church not only did he aim for the cardinal but chose to bypass the ordinary way of naming cardinals which is go to major cities like los angeles, new york, philadelphia, chicago, that is where the cardinals are so of the pope has to wait until one of those seats is open. pope francis has done this numerous times, go to a small town, small city, small city like san diego and say we are going to to elevate the bishop there based on his in this case more liberal approach to church, that changes the face of catholicism in america in a swift and direct way and changes the people who will be voting for the next pope because only cardinals under 80 can vote for the next pope and he is saying people who are

younger, less important traditional cities. stuart: could we see speaker pelosi take communion from the cardinal in san diego? >> i'm sure she would have no problem doing that. there is a major difference of opinion between the archbishop of san francisco and the bishop of san diego, now cardinal bishop. stuart: does this characterize pope francis as more radical than we had thought and that is what he wants to make the church of in the future. >> he has been ambiguous in the change of doctrine but very clear and the type of bishops and cardinals he is appointing. it is a big change. stuart: if he is now saying speaker pelosi can't get communion from that archbishop but she can get it from that cardinal because she was denied communion because of her stand on abortion does that mean the pope is now okay with abortion? >> it doesn't mean that but

what he has done is chosen ambiguity is a type of leadership. he creates ambiguity on policy issues like this and allows consensus to come from the people he is appointing so instead of saying this is what i believe, this is what we are going to do he says let me create a kind of confusion or chaos on things like policy, some elements of doctrine and see what the consensus is. very different type of leadership. we want different from pope john paul ii, this is how you are going to do it, great insight and we appreciate it. stacey abrams serving as a board member on a foundation that supports defunding and abolishing the police but that is not all. >> reporter: you could throw crt in as well. the name of the foundation is the marguerite casey foundation that awarded millions of dollars to professors that teach these radical ideas, abolishing prisons, one of them

teaches abolishing private property ownership because they say it is rooted in white supremacy and defunding and abolishing the police, political liability for stacy abrams, she's running for georgia governor, tried to distance herself from the defund the police movement but is attached to this foundation which gave her $52,000. should she win in november versus governor brian kemp she would be in charge of appointing members to the board that oversees georgia colleges and i just described what they teach. stuart: good story, very interesting. thanks. stuart: we are in the tightest labor market in decades, so bad that companies are now fighting over interns, roll tape. >> an interview for an internship that could lead to a job. >> they have more life experience than most of our interns. stuart: are you getting the connection to interns? we will tell you why

corporations believe interns are the key to filling the labor shortage. taking a cue from elon musk new york city's mayor adams rolls out a new strict office policy for city workers. the story next. ♪♪ (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better

when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. my patients, i often see them have teeth sensitivity as well as gum issues. does it worry me? absolutely. they are both very much hand in hand, so you should really be focusing on both, and definitely at the same time. sensodyne sensitivity & gum gives us a dual action effect that really takes care of both our teeth sensitivity as well as our gum issues. by brushing with sensodyne sensitivity & gum at home, it's giving you the relief that you need and the control that you need to take care of your oral health. and it creates a healthier environment. there's no question it's something that i would recommend. another crazy day? there's no question it's something of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both.

with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™

stuart: the usual check of the market, the dow was down 200 about the nasdaq turned positive up 34 points. the administration trying to start an economic messaging campaign this week. what are they saying? >> the same message but a more frustrated president, president biden believes he should get more credit for the successes for the economy but hard to

overlook the issue. 128,000 jobs created in the private sector that came back in may less than half the expectation. what we are hearing as we are in transition, headed to slower growth. >> we are coming out of a strong economic period. there are things as relates to inflation that were not predictable 18 months ago. >> reporter: record prices rising $0.05, visiting saudi arabia, talking with and meeting the prints he shunned as a killer. the administration over there

in saudi arabia. the announcement from opec. all of this makes the president look week. >> we are looking to saudi arabia to bail us out of high energy prices. bipartisan goal for decade has been energy independence, we finally achieved it under the previous administration. >> pushing more spending is way to long-term lower cost. the basic argument is you spend more for child care and inflation high but helps some people and we can handle it. stuart: i think i got it. new york city's mayor eric adams, get back to the office. that sounds like a strict remote work policy. lauren: come into the office,

but near chair 5 days a week, hybrid schedules have become more common in the private sector, the mayor believes the city needs its workers to report to work every day in person. be advised absent reasonable accommodation you are required to report to work in person for every scheduled workday and hybrid schedules are not permitted. if you have covid you stay home, work from home. if a family member has covid you are allowed to do the same for five days. none of this ten day thing. covid impacts you for five days. bottom line is you get the city back, new york needs its people back, the ecosystem relies on workers being in the office five days a week. stuart: this one is for you too. why are finance and tech companies hiring more interns? lauren: they can keep them as

entry-level employees, play companies plan to hire 22% more interns for the coming economic year. the most eager to recruit talent. reading offers for internships and often they pay. looking up some salary, the average graduate upon graduation the salary would be $55,000. however, if you have 0 experience and working in artificial intelligence at google, $133,000. if you can get your foot in the door as an intern, you are making six figures right out of school. blue what if you are in artificial intelligence and know what you are talking about which is in short supply. take a look at spotify. some talk about a podcast making serious money, white noise. lauren: like the sound of the ocean or the birds chirping,

gives me a headache but the point of this is so much divisiveness out there you turn on a podcast and the hosts are fighting with each other some pod casters are creating white noise deep sleep sounds and making money from it, how much? $18,000 a month because companies are paying to advertise on these channels. that is white noise. stuart: that is what you get, background noise. lauren: i have tried white noise for when i can't sleep but it bothers me. we one years and years ago was something called muzak, the electronic music in elevators. the first -- lauren: i like elevator music, let's get serious.

stuart: jayda pinkett smith breaks her silence on the infamous lap heard around the world, what she had to say about the oscars drama. the pandemic gays rise to sitting wars in the housing market, are we seeing those bidding wars? in parts of florida the bidding wars are done. mitch rochelle, real estate expert, after this. ♪♪ but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

in one second, sara... -yes! ...will get a job offer somewhere sunnier. relocating in weeks. weeks? yeah, weeks. gotta sell the house. don't worry, sell to opendoor,

and move on your schedule. yes! get your competitive offer at opendoor.com reliq health is a profitable global medtech company achieving strong quarter over quarter revenue growth. with a rapidly expanding base of over 120 us clients, reliq expects to uplist to the nasdaq this year. reliq health technologies monarch mining is fully funded and poised to become canada's next great gold producer, with four high grade projects close to their 100% owned, 750 tonnes per day capacity mill. monarch mining. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered.

on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™

stuart: the markets still going south for the dow industrials, down 140 but look at the nasdaq, 50 points. the latest read on mortgage rates earlier this morning, the fixed rate loan at an average of 5.09%. mitch rochelle is our resident real estate expert who lives in florida. in the part of florida that i follow i noticed the selling price of homes up until april

was always above the asking price. since the end of april the selling price has always been below the asking price. does that meet your analysis? >> i don't think they are done. sellers are getting antsy and concerned that if they are going to go too long they will miss the opportunity. there's more inventory in places where you are in florida and where i am in florida, those sellers who were selling, this is the golden opportunity. it is getting them to be less aggressive in asking prices but when something goes below asking price, home prices are falling. it means highly elevated asking prices aren't being met and that is what is happening. there are still bidding wars but not in the $4 million home

variety. stuart: it seems like we had a fabulous run that went for years and years and seems like it is speaking in terms of sale price and number of sales but if it is speaking does it come down? >> i feel like i'm a broken record. you have upward pressure on prices, if we had a long drawn out recession with high unemployment and job losses that could washout demand but still producing households, starting careers, they need places to live and housing starts are still anemic as they have been, prices have to go up. stuart: i've seen a housing expert who says people need an

extra $30,000 a year in income compared to last year to afford a home. that's a big jump in the income requirement. >> what got us into trouble a decade ago with the financial crisis was lax fund writing standards on mortgages. you could borrow 110% of the purchase price. those post financial prices, lenders are getting concerned, losses down the road because that happens in inflationary to times. they are uping the income requirement because the payments are higher and income requirements, right now it is costing you for the average home $2200 a year in mortgage payments, the income will go up and the debt service number goes up. stuart: it is not coming down.

>> sticking to it. stuart: thank you very much. still ahead on this program today charles hurt, kennedy, nigel farage and adam johnson. amber's celebration particularly poignant going on in london, the queen on the throne for 70 years, 96 years old, respected and admired because she devoted her life to the country. more on that in "my take" which is next. ♪♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like...

wearable training optimization tech. uh, how long are you... i'm done. i'm okay.

>> it is likely that donald trump will run, he would announce sooner rather than later but it is important to wait until after the midterm elections. >> headline inflation because right now that is the number that matters to american families. the president is wrong that he can't to do anything. the fact that he stand up to his own party is no excuse. >> this was something they started the ball rolling on the minute the biden administration showed up in washington. the left leg of the party controls the agenda and that will be true even more true going forward after this november. >> after the horrible math that we had we have a good chance to

have a little more rebound here. ♪♪ stuart: it is 11:00 eastern time, thursday, june 2nd, look at the markets, the dow is down 100 points. it was worse earlier in the nasdaq is showing a nice gain, 72 points higher, the price of oil $115 a barrel and a 10 year treasury yield is getting closer to 3%, it is 2.91%, not much action on the financial markets thus far today. now this. i guess it is because i still have a british accent that i am asked frequent the about the queen's jubilee celebration going on now and the next four days throughout britain. the brits to pump and ceremony

very well and i love it. this celebration is particularly poignant because it is about queen elizabeth on the throne for 70 years, 96 years old and respected and admired because she devoted her life to the country. that is her duty and god bless her. she stuck to it. there is another side to the jubilee, what i call the soap opera side. megan and harry, they abandoned their duty running off to los angeles to commercialize their royal position, burned their boats when they accused buckingham palace of racism. a little easing of tension if the queen goes to see their daughter. we will see. the other soap opera tail revolves around prince andrew caught up in the epstein scandal, no easing of tension there. he was not in the all-important balcony shot. andrew, harry and megan have been relegated to the sidelines. this celebration is all about the queen. and all about the british people.

who are letting loose after two years of pandemic restrictions. even though i signed up to be an american i am happy to see this strange thing called monarchy survive and thrive. third hour of varney starts now. ♪♪ stuart: i am sitting on the set with a couple americans and they are laughing at me. >> we salute you. stuart: nigel farage will talk about the jubilee later this hour. donald trump hinted at a possible 2024 run following the acquittal of michael sussman. he says, quote, if anything it makes me want to fight even harder. if we don't win our country is ruined, we have bad borders, bad elections and the court system not functioning properly. our country is being

systematically destroyed. charlie hurt, all-american, sits with me right now. he is looking backwards again. not sure i like it. how about you? >> a lot of people don't like the tone he takes in a message like that, statement like that but couldn't quibble with any of it. is correct about a lot of these things. he has always been a master at sort of bringing together that outrage a lot of americans feel. i agree with you the better thing for donald trump if he decides to run again is to talk about his platform and those issues. he didn't get elected in 2016 because he was a nice guy on twitter, he got elected because his ideas, the ideas he dragged into the republican party, the republican party leaders for decades rejected for a long time, same with democrats, dragon those issues to the front and center of politics

and that is where he wins new voters. in the week of the election of 2020 winning over new voters. he wasn't winning them over by getting into fights with people. but by prosecuting his vision which taps into what i think most americans believe. stuart: let's talk about president biden, the president says nothing he can do right now, there is nothing he can do right now to bring on rising gas and food prices. >> president biden: how to bring it back to $3 a gallon. >> because of a war. >> president biden: gas and food prices are serenely high. we went there is nothing we can do about it but fewer options

than when he went into the white house, a lot of terrible decisions, american energy independence, a policy platform of this white house, to raise the price of gas, that attack on american oil and gas which rose increased gas prices gave vladimir putin the money he needed to invade ukraine. and it is true. >> >> i'm not monarchist but that

said, and whatever the opposite of, and my kinfolk, my exact opposite, going to the opposite of that, pretty bleak. stuart: queen elizabeth at 96 doing better than president biden at 79 but that facetious and nasty comment. >> but true. stuart: you are all right, see you again soon. the losses were paired, a 96 point game for the nasdaq. one of my favorite market commentators, adam johnson, glutton for punishment. can't keep it down. you've gone from fear of

missing out, fear, make your case. >> a shift in investor sentiment. being completely afraid of everything from covid to and recession on and on, we've gone from is that to saying hang on. so many stocks have fallen so far. and that's the fear of missing out. from the american association of individual investors, and the number of bears dropped the most since 2010. and critically, the number of bulls with the lowest since 1990 so you have all these

bears, nobles and all of us and that is shifting with markets down as much as they were. stuart: the implication of that is we are looking for a bottom and close to that. stuart: we've been talking about are we there yet or whatever it has been, 6 or 7 weeks, very kind to let me plead my case but as we set during the process bottoming is a process. we saw the work from home stocks get hit. kathy woods, they got hit, the nasdaq got hit. facebook, google, the retailers got hit. there was this rolling bottom. a bottoming is a process. we are starting to come out the other side. stuart: you saved the best to last. you are all right. microsoft falling out of bed. much worse than that earlier.

microsoft was down 5% or 6%, down 3% down 1.7%. lauren: the news is microsoft came out and cut their outlook for revenue and earnings for the fourth quarter, sales will be around $52 billion, billion less than first fat. maybe there are cracks in microsoft's business, we heard about the hiring freeze, but you can excuse this, the downside move is an overreaction. the related head wind, will they do business and the us dollar is strong right now. see what it is, but i am going with overreaction. stuart: don't overreact on a stock that i own. can i be clear about this? lauren: i am helping you. stuart: tell me about

hewlett-packard. they are down 70%. >> they are unable to convert that to revenue growth because of the supply chain backlog. that is the problem. news about today in a nice way. 4%. the news is the vice president of people, the chief people officer at meta or facebook is now the chief people officer at zoom, not sure that is where stocks are but that is the news. stuart: the chief people officer is that a new title? lauren: it started during the pandemic, took off during the pandemic. blue and since the pandemic is over we can drop that title. thanks. you heard "my take" at the top of the hour, the queen's platinum jubilee. nigel farage, jayda pinkett smith breaks her silence about the slap heard around the world, she wants them to make a.

actor johnny depp won the defamation trial against amber heard. now she is calling it a setback for women. kennedy will take that on next. ♪♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

municipal bonds don't usually get the media coverage whose resumes on indeed match your job criteria. the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be

an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217 >> this is hard. crypto on ftx is easy. stuart: okay. tom brady promoting the crypto

firm ftx. brady and his wife gisele have an equity stake in this company. they hosted the video i have a celebrity golf match in vegas. brady and aaron rodgers teamed up to beat patrick mahomes. johnny depp won the defamation trial against amber heard. the jury gave him $50 million worth of damages. heard called the ruling a setback for all women. we need kennedy. welcome to the program. what -- looks like you are having ago. >> happy to see a british person on an exciting day. blue one i am an american. >> that nebraska accent sometimes -- stuart: the bronx. what impact do you think the depth ruling will have on the me too movement? >> we have been irresponsible as a society in terms of our

slogans because it oversimplifies things. when you oversupply something you rule out of emotion and not rationality so when you say things like believe all women, defund the police, what if you need good cops to fight bad people? what if some women are not telling the truth? you still believe all women based on their biology and immutable characteristics? what this trial showed is sometimes bad people are capable of hurting each other and lying about it. what happened with amber heard, she made a bunch of claims machine presented a mountain of evidence but the problem was when she was confronted with some of her inconsistencies and flat out lies her credibility really fell apart and people who were watching the trial saw that and people came in with preconceptions about johnny depp thinking he was a drug addicted blues bag who beat women, they came out of it

going here is a person fighting so hard for his reputation, who lost so much but still fighting because he feels he is right and has been wronged by someone who has taken his reputation through the mud so you saw a distinct turn in the middle of the trial particularly when she was testifying and people then switch their opinion and realized she may be a bad person who exploited the situation for her personal gain. stuart: where you gripped by it? were you watching this a lot? >> i was following it, reading it more than i was watching clips of it because i am a triathlete and single mom and competitive profession. i don't have time to watch court proceedings all day but i was transfixed by some of the larger cultural questions, questions about due process for both parties involved in these cases where violence is

alleged. maybe we need to have a better airing out when two people come together and say this person hurt me instead of only believing one side. that can be very dangerous. stuart: that is the best take away. have you been watching the jubilee celebrations? >> i'm a fan of the queen. i went to london a couple months ago. i read a book about queen elizabeth and found her life to be fascinating and then i became obsessed with the crown. on netflix, brought so many people not only into the royal family and not just gossips about what the queen has been through. she exist around this total craziness and she has been stable and she has been a servant to her country and her dominion in ways that people are not capable of putting something above themselves and that is why she lives, she loves her family but is

surrounded by nut jobs. stuart: would you like to see a monarchy in america? >> absolute he not. i'm delighted we broke away. i love individual rights. i love all the amendments, the first one, the second one, even the third one. although i love fleet week i don't want to be forced to quarter sailors. stuart: what to do you think of harry and megan? >> i think she is a blowhard, and opportunist and i think she has put a wedge between him and his family and that is condemnable. stuart: we are in total agreement on this. what do you think of prince andrew? >> i think he is a victim of his own privilege. this is someone who has never heard the term no. he never had to comport himself like he's going to rule the country as monarch and has been a joy boy his whole life and made bad decisions and has to answer for it. lauren: what about jayda

pinkett smith? that's the next story. she finally opened up, more than two months since the oscars and mine the -- made statements. we when you cut destroyed this interview about the jubilee which is my pride and joy for the day. lauren: yes and away. i brought in my story on jayda pinkett smith. i'm intrigued by what kennedy has to say. stuart: the interview -- lauren: she's not telling us. >> chris rock, will smith, got to keep the queen's name out of my mouth. stuart: why don't you tell us about jada pinkett smith? lauren: i am not pro will smith. i am pro chris rock. i thought it was a compliment. i thought when he called jeddah pinkett smith g.i. jane that is a beautiful strong woman, she's dealing with hair loss and very upset by it so her husband gets up, slaps chris rock in the middle of the oscars and it has been more

than two months and she finally addressed it. >> my deepest hope is these two intelligent capable men have an opportunity to heal, talk this out and reconcile. the state of the world today, we all actually need one another more than ever. >> clean honest statement. stuart: what do you say? >> there's much more to it than that. they have been very vocal about their marital entanglements and they talked about that. not just people gossiping. they have discussed these things. they have a nontraditional, for will smith to act like he is aggrieved and being so chivalrous was a bunch of malarkey, never okay to assault someone and words and assault are two different things but he tried to conflate them and just

trying to weasel out of respond to billy here. stuart: it we discussed that particular slap at the oscar. >> let's have some crumpets. stuart: netflix tried to rein in this password sharing? >> a pilot program. in peru if you share your account with more than you are supposed we charge an extra 2 to $3. customers canceled their accounts. are we going to do that in the us? there are so many competitive streamers on the market. netflix is one of the first. you shared it for years. and a lot of people think i've got other items. stuart: you've got it. thanks very much.

prince harry and megan left there netflix cameras at home but might not have been there choice. we will tell you about it. remote work is over for hundreds of thousands of new york city employees, the mayor is taking a page from elon musk and forcing workers to come back to the office full-time. dan heninger and that next. ♪♪ for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns.

ion energy is ready to meet the demand of asia's booming lithium market. ion's flagship lithium brine project in mineral rich mongolia, is strategically located next to the world's largest ev market. ion energy: mongolia's premier battery metals explorer another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™

stuart: that is north carolina. it is 86 °. if you like the music we play on the show, follow us on spotify, search "varney and company," see the qr code? i will leave it up for a couple seconds and then follow us on spotify. time is up. back to the markets.

susan is back, technology companies, big tech moving. lauren: the us dollar rallying 7% so far this year. technology companies, did they had properly against the us currency and whether they see inflation on the bottom line but shopify, wise the dollar important, it is up because of inflation because of interest rate expectations but if you have the yields coming down because opec agreed to a supply increase, oil prices and lower inflation, much positive for high-growth high-tech. we when it all went up to $116 a barrel. up another bucket. lauren: you see the opec plus agreement to pump half a million extra barrels of oil. stuart: is that going to stick?

lauren: i thought that was pretty positive. stuart: let's move on, earning. susan: a prophet instead of a loss, the game stop reported higher sales growth, shoppers going back to the stores. a better-than-expected smaller loss, looking at some pretty good gains across the board. stuart: 18% up after -- it is way down. susan: there is some recovery when making money instead of losing money. stuart: i will call that a recovery up 18%. susan: when microsoft came up with that warning, the initial reaction on social media, never going to retire, that was the reaction. stuart: thank you very much. the mayor of new york city, eric adams says all city

employees need to be in the office every day. hybrid schedules of any kind not permitted. this follows elon musk. he said teleworkers must return to the office at least 40 hours a week. dan heninger with us. is the mayor taking a risk here ordering people back to work in a city where crime is rampant? >> he is taking a risk but he is taking a risk he feels he has to take. new york city needs people to get back to work. mayor adams is facing extraordinary challenges post pandemic. a lot of people, public workers or private-sector workers are not coming back to work in new york city. midtown is relatively empty. what is the problem? new york city, new york city doesn't have the same problem tesla has with workers in texas who get in their cars and go into the office.

in new york you have to take the subway to work and the subways have become the central piece of eric adams's crime challenge. there is too much crime on the subways. a goldman sachs worker, was stabbed to death, writing in the subway. people know that. somehow mayor adams, get the crime under control in the city. they are losing tax revenue. workers come to the city, people afraid of crime, afraid of that, they move away from new york. census figures showed suffered significant population loss during two years of the pandemic so he has a real challenge. i understand why he wants city workers back in the office. they provide services to people but it is going to be difficult until he gets that crime under control and that looks difficult. stuart: apart from crime,

hasn't there been a change in work culture? the pandemic kept us all at home. a lot of people don't want to come back no matter what. >> that is a big issue even eric adams can't solve. a lot of people like the hybrid model. they like working at home. jamie dimon said over a year ago everyone was going to have to go back to work, he accommodated himself to the idea there will be hybrid work and we have to some plea find out over the next four or five years whether that is sufficient for companies to operate in fact whether people really do want to spend all of their time at home but enormous structural transformation taking place in the world of work because of the pandemic and it will take four or five years for that to sort itself out. unfortunately mayor adams does not have four or five years to

suffer a significant tax revenue loss while people are working from new jersey or westchester county are moving out of the city so he's forcing the issue. recall he threatened or hired workers who refuse to get vaccinated during the pandemic and now he is issuing similar threats if they don't come back to work. he's probably heading towards a confrontation with the city's workforce. stuart: sure looks like it. you probably couldn't see it but while you were talking on the left-hand side of the screen we showed 6th ave. midtown manhattan still very quiet for thursday morning. >> that is the reality. stuart: see you again soon. a new report from the labor department shows companies of stopped firing employees because it is so hard to find new workers. lauren: one and a quarter million, that is different from people volunteering, i can get

a better job elsewhere or to work, that was 4.4 million. i know a lot of people who say i am looking for another job and go to their current employer and say can you match the salary and i'm surprised by how frequently the present employer says no so instead of paying over $40,000 more, they let that worker go get another job at higher pay and then have to backfill them. if i were a boss and i liked you i would pay you what you want so you would stay. if you were worth it. stuart: not whether they like you or not. the price of gas up another $0.04 overnight. a gallon of regular costs on average $4.71. one year ago it was $3.04, no relief in sight. the queen's platinum jubilee has begun in london. nigel farage is celebrating at buckingham palace. nigel is next. ♪♪

♪ ♪ i'm the latest hashtag challenge. and everyone on social media is trying me. i'm trending so hard that “hashtag common sense” can't keep up. this is going to get tens and tens of views. ♪ ♪ ( car crashing ) ♪ ♪ but if you don't have the right auto insurance coverage, you could be left to pay for this... yourself. call a local agent or 1-888-allstate for a quote today. - look, this isn't my first rodeo. and let me tell you something,

i wouldn't be here if i thought reverse mortgages took advantage of any american senior, or worse that it was some way to take your home. it's just a loan designed for older homeowners and it's helped over a million americans. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan, like any other. big difference is: how you pay it back. - [voiceover] are you living on a fixed income? worried inflation may affect your savings. call aag to discover how home equity could be a financial safety net in uncertain times. - other mortgages are paid each month, but with a reverse mortgage, you can pay whatever you can, when it works for you. or you can wait and pay it off in one lump sum when you leave your home. - [voiceover] to make finances go further, older americans are turning to reverse mortgages to get extra cash, cover medical costs, and maintain their lifestyle. call the number on your screen.

- you've probably been investing in your home for years, making monthly mortgage payments, doing the right thing, and it's become your family's heart and soul. well, that investment can give you tax free cash, just when you need it. - [voiceover] get your free reverse mortgage loan info kit. if your 62 or over, your home equity could be a new source for retirement security. with inflation reaching a 40 year high, now could be a good time to consider a reverse mortgage. - look, reverse mortgages aren't for everyone, but i think i've been around long enough to know what's what. i'm proud to be a part of aag. i trust them. i think you can too. - [voiceover] call aag today to get your free info kit. call the number on your screen.

stuart: i was about to say i like the trumpets from the introduction and then we got in sheron. looking at london celebrating the platinum jubilee, we are playing edge sheron because he was performing a jubilee adjutant this weekend. on a serious note, security scaring buckingham palace.

lauren: a man was arrested for trespassing, allegedly entered where the horses are housed and entered an unauthorized vehicle, seem to be a fan but when approached by security so i want to see the queen and was escorted out, she wasn't there at the time and his attorney says mental health issues here in a grand scheme. stuart: there will be a lot of questions. how did he get in? lauren: in an authorized vehicle. stuart: queen elizabeth appeared on the balcony at buckingham palace. prince harry and megan markel did not join the family. nigel farage, what is with the shades. the weather is good. from over here it looks terrific and you have your shades on. >> i was on horse guard this morning.

never every 60 years have i stood for the national anthem, and god save the queen, with such actual genuine emotion in my heart. she's been our monarchs, our head of state for 17 years and to see london today, to see the magnificence of our troops, to stand below the balcony, to see these vast crowds. this is one of the happiest days i've known in this country. stuart: when i was watching the parades this morning. it brought a tear to my eye even though i am an american, and american citizen, not lived in england for 50 years, brought a tear to my eye.

is that the feeling throughout britain? >> a massive celebration, support for the queens monarchy is as high as it has ever been in our history but it is deeper than that, a number of people said to me, the last serious figure in the world that wore a uniform in world war ii. she became prime minister, she became queen, winston churchill was the prime minister, the last living link with world war ii, the defeat of fascism and has been here all our lives, brought something in the country that is quite emotional. i have never seen so many.

stuart: at some point in the future charles will become king. what is the feeling about britain, charles iii? >> the queen as part of stating canada, australia and many realms across the world, when the next rain comes there will be changes, difficult to see that it is as high as it is now but this woman, don't think there is a better known woman in the world and more popular woman in the world and even though her mother lived to 101 and given how well she looked on that balcony this morning i don't think we need to have this conversation for many years. stuart: i hope you are right but i have to ask about harry and megan. the queen may go and see their

daughter, her great granddaughter, never seen her before, june 4th. is their talk of them using out and lessening the tensions? >> on a family level, that is quite right and proper. of course the queen should meet her great-granddaughter with the same name. on the public level the queen was clear today the only people allowed on the balcony in front of the crowds, giving the salute to the color of the regiment, were working royals and that meant of course harry and megan had chosen to leave the job and move to california and there wasn't a place for prince andrew too. it goes to show she may come across as a calm and composed lady but is tough as well. lauren: are the pubs open all day?

speech is got to tell you, the british beer is flowing. i am trying to moderate myself. not sure i'm doing it well. stuart: you are all right. have a great time this weekend, nigel farage, see you again soon. prince harry and megan markel busy filming their netflix dock you series but i don't think they will be filming with netflix cameras during the jubilee. lauren: no behind-the-scenes filming. they signed an agreement in 2020 when they quit their royal roles that prohibited them filming in any royal residence. they could film on their phones. do you think they will? do you think they will film when queen elizabeth meets her namesake? stuart: i don't want to see netflix cashing in on the british royal family. get out of here. lauren: they would do that if they could. i would watch it. stuart:

stuart: i want to see the cleanup lawyers in court having netflix by the throat. lauren: it would be disrespectful. in the us, i was listening to you and nigel fan out, pride you are exhibiting watching this play out, what is the version of what we are seeing now in the us? lauren: what is the equivalent? there is no equivalent. lauren: i get emotional during fourth of july fireworks displays. stuart: the inauguration of a new president but that doesn't make it. that is a politician. a leader, a politician. the queen is totally above politics. she has never given an interview. there is no political because you can take issue with. she is there. she is the queen. her presence is everything. lauren: no equivalents in the us. stuart: there is something called the presence chamber where you go to meet the queen. lauren: have you been?

stuart: i got as close as you are to me now when i covered the royal tour of hong kong in the 1970s and i backed off. got to move on. gas buddy says we can see a national average of $5 a gallon for gas as early as june 17th, two weeks away. grady trimble has the story after this. ♪♪

wealth is breaking ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. ♪ ♪ wealth is watching your business grow. worth is watching your employees grow with it. ♪ ♪ at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪

xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets.

and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. dad! a dinosaur! it's just a movie. no dad, a real dinosaur! show doorbell camera. the new xfinity video doorbell works with your xfinity home system for real-time alerts no matter what's at the door. get off the car... it's a lease! jurassic world dominion, in theaters june 10th. rule your home security with xfinity home.

stuart: the market check, here we go, the dow was up 100, the nasdaq 200. i call that a rally. that is plenty of green. green for forward motor company investing $3.7 billion in electric and gas powered cars creating 6200 jobs to boost production in michigan, ohio, and missouri. gas prices can we tell you this every day, today we are telling you they are $0.04 overnight. the national average $4.70 one cents. up one. up $0.09 in the last three days.

any end insight for these rising prices? >> unfortunately no. at this gas station we watched prices shoot up $0.30 in just the last few days, folks paying $5.79, the average in illinois, $5 a gallon, arizona joined the list with an average of $5 a gallon, 8 states on the list, analysts say the rest of the country could join them. some are in a national average of $5 a gallon by mid june. it is $4.70 one cents and climbing. americans are paying $1.65 more than they were a year ago, $0.50 more than they were a month ago. new today there could be more oil hitting the market, the opec plus producers had a meeting and reportedly agreed to increase production targets in july and august by 50% more

than they originally planned. they report saudi arabia and other opec plus countries could beast -- boost their production to offset the drop in russian output as a result of western sanctions. more oil on the market should lower the price of crude and eventually the price at the pump but we talked to gas buddy to get patrick's read on the situation anti-questions whether this is lipservice for opec and whether they can actually meet the targets they set out for the summer months. stuart: it looks grim. did you say up $0.33 in two days or three days? >> it was $5.49 when we were here a couple days ago. i don't have a car so i don't have to pay these prices. stuart: thanks very much, good stuff indeed. it is 11:55, time for the thursday trivia question which how many telephone area codes does new york city utilize?

two, 5, 7, or 11? we will be back. i had been giving him kibble. it never looked or felt like real food. but with the farmer's dog you can see the pieces of turkey. it smells like actual food. i saw a difference almost overnight. healthy poops, healthy dog, right? ..

stuart: earlier today we asked how many telephone area codes does new york city utilize? reporter: i'm confident it's five. stuart: i would go with five also. the answer is seven.

here are the area codes. i thought that was a cell phone area code. don't forget to send in your friday feedback comments. hate mail, we want it all. send us your fan friday videos. time's up. neil is here. neil: you are open to hate mail? stuart: yes, send it in. neil: i'm old enough to remember there was just one in new york. it was 212. people went pass particular when they took away the 212. stuart: i didn't know you were that