like they used to, because it's going to be in strong demand, and the supply will be quite tight. reporter: and this could deal a major setback for movie theaters as they're trying to recover because a lot of their money, revenue comes from concession sales, dagen? dagen: thank you, lidia and liz peek and michael lee, "varney" take it away. stuart: all right, good morning, dagen, and good morning, everyone. it is monday, and the first thing investors want to know is how's my money doing? so let's start there. it's a rally after last friday's selling the dow is up about a couple hundred points at the opening bell nice gain for the s&p and the nasdaq is going to be up what about 189 points, i'll call that a rally. there is no good news on energy price inflation, however. we're in a dangerous spiral. a new high for gas this morning, $4.86 at the national average for a gallon of regular. it's going up four or $0.05

each and every day. there's another new high for diesel too 5.64 but you'll see $7 and up for diesel in some states. look at this with oil getting close to $120 a barrel, 118.92 right now, do not expect much moderation in gas prices anytime soon and inflation, it is crushing the president. nearly three-quarters disapprove of his handling of inflation. he gets just 28% support for whatever he's doing to fight rising prices. politico reports mounting frustration within the white house. biden's especially upset at getting lower polling numbers for donald trump. all right, here comes another crisis. the largest caravan to-date is forming up in central america. it is 10,000 strong and it's heading to our southern border. do you remember the outrage overrules for the, but not for me? in britain there are serious consequences for covid rule

breakers. prime minister boris johnson faces a no confidence vote because he attended illegal boozey parties during the lockdown. he could lose his job. probably he won't but he's in deep political trouble. enough with the negatives, please. look at this. a surprise appearance by queen elizabeth at the big palace party when she unexpectedly came to the palace balcony, the roar from the crowd was heard all over london. what a moment. it's monday, june 6, 2022 it's d -day, "varney" & company is about to begin. ♪ here i am, signed seals delivered ♪ stuart: [laughter] all right, welcome, everyone, to studio d. lauren:d. stuart: it's a new month, new studio, and new problems for the

president. look at these poll numbers. they show president biden receiving failing grades for his handling of inflation and the gas prices too. good morning, lauren. lauren: good morning. stuart: sitting right next to me lauren: we're closer than usual. stuart: we are indeed. these are bad numbers. lauren: well actually, it should be an f for failing. high prices is what everybody is talking about right now, and you have a phone conversation with a friend, you'll likely talk about the price to do anything. 28% approve, that's it. of the way the president is handling inflation and high prices, abc ipsis finds less than that, 27% approve of how he's handling the cost of gas. how much does it cost this morning? $4.86 to fill up that's your national average. it's up $0.60 in a month and double from when the president took office. so sure, yes, putin exacerbated the price hikes, but gas was getting more expensive well- before the war started three months ago. we just showed you the numbers from when he took office in

january. stuart: everybody is talking about it. common conversation is look what i had to pay to fill up my suv. lauren: now the conversation will switch to well what are you cutting back on? are you still planning that get away, doing this? stuart: demand destruction. transportation secretary pete buttigieg, he's trying to defend the administration's economic record. watch this. >> of course we have challenges right now but look at where this administration began, where there was a very real risk of recession, if not depression, and an american rescue plan that has made enormous differences in communities across the country and along with that, extraordinary job growth, exceptionally-low unemployment, increases in income for american families, that didn't just happen on its own. stuart: look, sean duffy is with us this morning, come on in, sean. that just doesn't make it. you can't look back to a period of growth back when and ignore what's happening to us now. that just doesn't work. >> well even the point of saying listen, we're going to

increase american's wages through the american rescue plan , but it hasn't caught up with inflation, stuart, so people are poor this year than they were last year, because their wage gains haven't kept up with the 8% inflation. using people to judge, i get so angry because what he's really saying is i want to make americans poorer so i can make them richer, or i want to destroy america so i can build it back better. these are stupid people with stupid ideas, stupid policies, and the results are cataclysmic for the american people so i listen to this and go no wonder the economy is in such a wreck. you have guys like pete buttigieg defending the policy administration that caused these problems for the american people it's outrageous. stuart: what gets to me is we're on a spiral. you can feel it. you can see it. it's a spiral upward in prices, everybody knows it, and there's no sign that that's going to be brought under control anytime soon. people are getting real anxious about this. >> well the point i think is a really good point we are in a spiral so instead of saying listen some of our liberal progressive policies haven't

worked for the american people let's change course, let's go on a little different direction. this hasn't worked, but instead, as you see from pete buttigieg, and the administration as a whole, what they say is we're going to double down on the failed policies and somehow think it's going to get better. stuart you're right. we're in a spiral only going to get worse, unless they change course and say you know what? we're going to start to de regulate oil & gas and build more refineries and pipelines and look to america to drive down oil prices, which in turn will drive down prices in the grocery store for americans, or maybe we're going to de regulate the housing market a little more so we can have more housing stock come on the market so people can afford a home. doing smart things to drive prices down be the answer. they're not doing that, stuart so again, americans don't have any hope that it's going to get better because they're not changing course. stuart: just a quick item here. i'm seeing a lot of negatives on cryptos. the ftc says over $1 billion has been lost to crypto scam since the last year and i'm see ing a lot of criticism springing up just in the past week or so, that if you buy

into crypto, you're buying into nothing because there's nothing there. you got 30 seconds to answer that one. >> so i see the green, stuart, we're up 1,600 bucks in the last 24 hours. i'm still bullish on bitcoin, ethererum, litecoin, solana, but there are some scams out there no doubt and i think that's shaken people's faith in the system, but there's been scams everywhere. the stock market has scams as well, and so again, in the long run, i look at this , i don't have faith in the federal reserve. i don't have a lot of faith in the dollar with janet yellen in charge and joe biden in charge, so i'm looking for a safe haven. you can go to gold, but i think bitcoin in the long run is going to be a winner and you've just by just to take note, again, we're down over 50% from its highs. but i look at bitcoin and seeing those fluctuations this is not abnormal for bitcoin and ethereu m, so stuart, you can

get in now, join the fun. stuart: sean duffy we'll leave it right there. see you again soon. >> thanks. stuart: with inflation at record highs and it is, some retireees are being forced to go back into the workforce. lauren: it's called unretirement and about 1.5 million retire ears have reentered the workforce. tina casten is here, listen. >> i thought i'd be flying all over the country and the world by now. i retired and started volunteering for goodwill, the state of arizona. you know, kitchens, food kitchen s and things like that. i'm not at the liberty, again, to pay for travel back and forth to volunteer, when i'm not getting paid. i need some compensation now. lauren: yeah. she's seeing high price of everything impact her savings, people are tapping into their 401 (k) early especially if they retired a bit early and a lot of retirees decided to leave the

workforce early when covid hit it was easier and then some are called back because there's a worker shortage, right? and some of them are called back , got nice salaries to do so but others like tina said i just wanted to enjoy life and do good things for other people but i can't afford to do that, because my bills have gone up so much. stuart: inflation pushes people back to work, because they need the income. futures suggest a nice rally at the opening bell on wall street this morning, dow is up maybe 270, nasdaq is up close to 200 points. jim lowell, market watcher this monday morning. you say volatility is on the way , why doesn't this market settle down what's the problem? >> [laughter] well, the problem is what you just been talking about, inflationary pressures, recessionary fears, china, russia, covid, you name it. there's plenty of hurt hurdles this market has so far been able to reasonably fend off but the reality on our markets ground, our economies ground, is as goes the u.s. consumer, so goes our economy of markets, and

maybe for another month or two this u.s. consumer is going to keep on spending because if there's no need to repay the credit cards that they're raising in terms of debt levels, but sooner or later they have to pay that piper, and sooner or later i think we're going to have some very difficult days to have to manage through. i don't think the worst is behind us. stuart: okay. do you see a recession coming in the immediate future? >> i think we're in one, stuart i think when mid-july when the data comes out we'll see technically we were in a recession, two negative quarters of gdp but it doesn't feel like we're in a recession. not in terms of consumer spending, so on the existential recession we're not there yet and that maybe a bridge that lets us stave off any sort of deep or durable recession and really turn around fairly quickly, so long as the jobs market doesn't begin to show any signs of cracking. stuart: but you don't think we've hit the bottom yet? the worst is still to come? you're not buying across-the-board at this point,

jim lowell, is that accurate? >> we're buying across-the-board selectively. we're taking advantage of discounted prices, but we assume we will have more discounts to prices along this road. look, this is a year that's going to be exceptionally contentious and volatile because of the risk we just talked about but you throw in a mid-term election that may or may not be there depending upon how the chips fall and this is a recipe for volatility. some investors just need to get ready for it. stuart: jim lowell, thanks for joining us. futures still suggest a modest pretty good rally at the opening bell, dow is up about 300. listen to this. masks, oh, making a comeback? are we going backwards here? we'll tell you where they are mandatory, all over again. russian missiles locked kyiv over the weekend, ukraine's zelenskyy says they are losing dozens of troops each day. looks to me like a stalemate over there with russia perhaps

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right now economically it's pretty dire. they aren't doing so well. we need to find ways to bring back foreign investment. there are parts of that country especially in the west much safer than ever before to return to and i think now it's on ukrainians and foreign entities who have left the country to come back and return to these places that are a bit safer. when you drive just from lviv for instance to the capitol of kyiv, you are basically begging and borrowing for gas. it's very difficult to transit that route which is normally about a seven to eight-hour route. you're having to be very careful about not being stuck on the side of the road so we're out there with cans of gas and delivering medical aid in the field and there's a lot of critical infrastructure being targeted which is very careful especially their railway systems . in the last few days there were russian cruise missiles that struck three railway facilities in the lviv region, which caused damage, four missiles came out of the black sea that targeted the railroad as well and you've got essentially a situation here

where russia's trying to squeeze them out economically which is going to be so much worse than hurting their soldiers. stuart: boris johnson, prime minister of great britain, says he will send long range rockets to ukraine. the u.s. isn't going to do that but boris johnson will do that. what the ukrainians need, presumably, is new advanced weapons delivered quickly, which allow them to strike a real blow against the russians. will boris johnson's long range rockets do that? >> yeah, i think so, and i think they need more than just advanced technology. they just need any type of technology and weapon systems that the u.s. is pretty reluctant to share. look you still have a lot of non-profits and ngo's doing the work of most governments. you've got groups like ukraine friends.org, and ukrainian congress committee of america and the united states has sent more humanitarian supplies in last couple days than most governments. they sent almost 50,000 first aid kits so we need to keep doing more but also need to get these governments to step up to the plate and provide more

long range weapon systems that allow the ukrainians to go on the offense. stuart: do you think that president biden actually wants the ukrainians to win or do you think america wants a stalemate in place? >> i think he does want them to win. i think the biggest thing is that they are basically not trying to provoke russia to the extent that this spills over into american territory but i think absolutely, they have the ukrainians in mind when they're sending these weapons over there but there's a limit to that if russia starts sending missiles into western assets, that's where it's going to be a major problem and i think that's what the biden administration is trying to get away from. stuart: brett velicocivh just back from ukraine thanks for joining us. >> thanks stuart. stuart: u.s. officials are accusing russia of engaging in bad faith negotiations what's that about? lauren: food and food security so the united nations is trying and they have been trying to negotiate a deal with russia to allow ukraine to export grain from the black sea where they have a blockade. 20 million tons just stuck there

and it's about to be the summer harvest here. the white house says they think the crime lynn is engaging in bad faith. moscow suggests they would ease that blockade on ukraine ports if the west lifts its economic sanctions and that obviously will not happen. stuart: nope. lauren: but they are starving the world because 20 million tons is just stuck at sea in that port. stuart: 20 million tons stuck right there. lauren: yeah. stuart: that's huge. there was a, i think you know about this. i was watching too. heartbreaking loss for ukraine's national soccer team, trying for a spot in the world cup later on this year. they didn't make it, didn't get there. lauren: no. stuart: take me through it. lauren: this match was actually delayed because of the war by three months so they finally get to play over the weekend. it's such a symbol of national pride for ukraine, but garrett bail delivered on that 25-yard kick i think it's right here and ukraine's yarmalenko was the only player to intercept it but in the rain he turned it

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stuart: keith fitz-gerald joins us this monday morning, that's pretty good news because the dow is in for a modest rally at the opening bell. all right, keith, obvious question, i ask it for everybody. are we at the bottom yet? >> unfortunately, as motivated as i am to see green on the screen this morning, stuart, i don't think so. stuart: why not? >> well, here's the thing. we've got productivity going down, costs going up, we've got companies like microsoft warning , tesla is warning. it makes me wonder about next earnings season. i think it's going to be the most critical of my career. jamie dimon's comments about an

economic hurricane may not go far enough if the president doesn't reverse some of these economic lunacy that he is going for. stuart: jamie dimon was talking about this economic hurricane. that's what we're facing. i interpreted that as meaning we're in for a pretty nasty recession, but you think it's going to be even worse than that are you suggesting a depression is possible here? >> i think, yes, i think nobody has said the d word yet but if the policies don't get reversed, if the consumers don't power up, if the fed doesn't gain control of this , i think the risk of that is very real and far more real than people care to admit. stuart: but the only way the fed can get control of it, control of inflation, well, not the only way, perhaps, but the big way to do it is to just is essentially create a recession, is to raise interest rates, rapidly, sharply , and create a recession, which squeezes inflation out. that's the only way the fed can do it, isn't it?

>> well it's the only way the fed can do it but don't forget there's two parts to the puzzle, supply is an issue, the ports are an issue, there's economic policies. if i were president i would un leash american energy producer , i'd reform the ports can cash incentives to every trucker, and worker able to get stuff off boats. i would immediately take money out of the system, because the consumer, if they are really as strong as the fed believes, can stabilize this. stuart: you're on the west coast where the average price per gallon of gas entirely across the western states is $5 and up. what are you paying right now? >> we paid nearly $6 a gallon yesterday when i filled up one of my cars. i'm seeing 10 in some of the outer islands, so this is gas pumps i've heard, i haven't seen it with my own eyes but gas pumps are being reconfigured for four digit price increases. stuart: whoa what's the reaction of folks out west?

>> disgusted, frustrated, you name it. the emotions run the absolute gamut. people have just thrown up their hands and are just furious about how this is going. they know it doesn't have to be this way and we live within two miles of a refinery. stuart: there's a trend towards electric vehicles, especially california and the west coast. are those folks who bought electric vehicles thinking about what might happen when you get rolling blackouts? >> [laughter] that's an interesting question. i have not heard that voiced yet but it's interesting, because the folks who have bought lots of these electric vehicles are largely new money, people who are not impacted by the gasoline prices per se. the working americans, the farmers, ranchers around here, the construction workers, every one of those folks is being deprived of money on the table, food on the table because of gas prices. stuart: on the left-hand side of the screen we've got the price of oil as of right now, almost $120 a barrel for west texas intermediate. that tells me that gas prices

are not going to come down any time soon. in fact they probably will go up some more. do you agree with that? >> i do agree with that and that's exactly why, for example, we talked about chevron on your show quite sometime ago and why i'm sticking with a company like that because it is going to go a lot higher before it goes a lot lower. stuart: will you touch amazon, which will betraying today at a much-lower price. >> i will not, stuart, and here 's why. number one that stock was in a decline before the split and i don't like to buy stocks falling for no reason. number two, it's personal with me, with this stock. that company used predatory business practices to put a company out of business including one that my wife owned and that doesn't sit well with me. i'd rather own something like costco which is not only holding its own but has great growth in front of it. stuart: all right full disclosure there, good idea. whatever happened to buy the dip and we're going up, up, up, just six months, a year ago we were saying that but now, very opposite story.

keith fitz-gerald thanks a lot for joining us we appreciate your honesty we'll see you again real soon. >> thanks, stuart. stuart: 20 seconds to go on this monday morning before we start trading on wall street. if you look on the left-hand side of your screen we're expect ing a pretty solid gain. >> [opening bell ringing] stuart: not huge, but up about 200 points for the dow industrials, remember it was a big drop on friday, some will be recouped in the next few seconds here we go. trading has begun on this june 6 , d-day as i tell everybody and if you look on the left-hand side that's the dow 30, almost all of them have opened in the green, and the dow right from the get-go is up 230 points, the dow is back to the 33,000 level. have a look at the s&p 500. on the upside to the tune of 1% that's solid. the nasdaq composite on the upside, 1.6%, very solid. i presume that the big tech stocks are all doing well and yes, they are, right from the top we've got i can't read them, it's too far away.

lauren: i can't either. stuart: amazon, meta, alphabet and microsoft all up from the opening bell. it's a little bit further away with this brand new studio. i love this , i'll have to get glasses. let's have a look at amazon $125 a share that follows their 20 for 1 stock split of course. and that's considered good news. lauren: yeah, because more people can afford it now, right? you went from $2,447 a pop on friday to 125 today. this also signals potential inclusion for amazon in the dow jones industrial average and that be a positive for the stock stuart: that's a pop, a big stock up 2.4%. lauren: yeah. their fourth stock split but their first in over 20 years. stuart: let's go to apple. it's a big day for them the developers conference kicks off it's being held in cuppertin o, california, starts at 1:00 eastern time. is a big new product expected? lauren: no, this is not the iphone big event, this is when they do a lot of software

but the buzz is about a hardware product and it's the mixed reality headset. we aren't going to see it today but we might hear hints about it so this be the new headset that you wear when we start to live in the real-world but also in the virtual world. like this is actually happening, and apple is going to be talking about ways we can interact with it and how they make it accessible so that's why we're listening about clues there. what we will hear about today for sure, new software that be ios 16 any upgrades to messaging about health features on it and the new mac book air, with a special faster chip. stuart: okay, and the dow has opened with a 130 point gain and again, back to apple. they're up 1.6%. that's a solid gain indeed. now, we've got an update on musk and the twitter saga. i see musk the stock is way down what's the story? lauren: musk wrote a letter to twitter and threatened to end the deal because twitter has not provided him with the data he wants on the actual number of spam and fake accounts. he says, and his lawyers say,

twitter is materially breaching obligations of this deal, because they will not give him that information. and look, the stock is selling off, in an up market by 5%. maybe this deal is off and he can negotiate a better price, maybe he can't. stuart: if he threatens to call it off and the stock goes down that's quite a threat. lauren: he's been threating a lot of things like job cuts. stuart: tesla, did musk backtrack on those tesla job cuts? lauren: it seems so, so on saturday, he tweeted that tesla 's total headcount is going to increase over the next 12 months, more hourly workers, the number of salaried workers stays the same, but if you work at tesla, what the heck? i mean, he said last week, you must show up for work 40 hours a week or else basically he said we need to cut about 10% of our staff and he said he had a super -bad feeling about the economy. so, particularly if you're a worker there what do you do with all of this? maybe he's trying to get

employees to quit and he doesn't have to pay them severance? stuart: no idea but he's all over the place. lauren: he's all over the place. stuart: some people are getting a little annoyed with him for these constant tweets which throw everybody into confusion. lauren: it's effecting two companies, it's effecting twitter which is down 5% because he has a deal to buy it and it's effecting tesla. stuart: which is on the upside today. got it. starbucks, they're looking for a new ceo. are they looking just in side the company? lauren: no, the wall street journal is reporting that they want an outsider to replace the interim ceo, howard schultz. he's not going to stay on past fall. that's when they name the new ceo. they train them, the official handoff would happen in march. stuart: okay, and they're doing well today along with everybody else in the markets. starbucks back to $80 a share. now, didi, that's the uber of china, surging. that's 33%. lauren: no that's 55%, if my

eyes read correctly. i was going to the stage manager before like i can't see anything because they are so far away. this is the news and why didi is up 58%. chinese regulators are backing off and they see their economy is suffering so they had a year- long war essentially on their tech giants and they have stopped it. so it's didi but i can show you two other companies if you can bring up full truck alliance and also the online online recruiter they're all up in a huge way. their apps could be back on the app store in china this week , and they can finally start to add new users which they haven't been able to do for over a year. what does beijing get out of this? they are expected to be offered 1% equity stakes in the company and then they get a direct role in corporate decisions so it's not completely hands off but it's aishah hasnie lessening of the regulation if you will. stuart: huge rally for didi. lauren: yeah. stuart: now i don't know what the latest is on this , but i

believe jetblue has sweetened its bit for spirit airlines. lauren: yes because there's a vote on wednesday, ahead of that jetblue raised their cash offer to 3,150 up from $30 and also increased the breakup fee by 200 million to $350 million, should the deal fail on anti- trust grounds. that's important because spirit has said so many times, we don't think regulators are going to approve a merger with jetblue. that's why we want to go with frontier instead. the big vote is on wednesday by shareholders. stuart: oh, wednesday that's the big one. it's incremental moves wednesday all right, frontier is up $10 a share. take a look at dow winners, please. lauren simonetti squinting for me. lauren: salesforce, visa, apple, goldman and american express. stuart: go to the s&p 500 list of winners. lauren: we've got n-phase energy , quanta, vegas sands and look i'm going like this to see it and generac holdings.

stuart: either we get that thing nearer to us or we get glasses one of the two. nasdaq winners? lauren: monster beverage, google , tesla. stuart: finally, big tech on the list on the nasdaq. finally, big tech makes it into that. lauren: we thought of so many things with the new studio but not our visibility. stuart: just get it closer. the big board shows a gain of 170 points that is a half percentage point the dow is back to 33,000. the 10 year treasury yield, check that yet this morning here it is, 2.96%. the price of gold, hasn't done much lately. it's not doing much today up $3 at 18.54 an nouns, bitcoin not doing too badly, 31, 300 this morning and oil is a stand out story close to $120 per barrel, nat gas moving above $9 per million british thermal unit s. what you're looking at right there is energy price inflation,

so is that, $4.86 the new average price for regular in these united states and look, california $6.34 for regular. lauren: chicago is very close 5.98 and chicago, illinois will be $6 soon. stuart: $6 gas in a lot of places by the end of this week and $5 universal. there's a deeply-pessimistic mood in the country. the inflation spiral is at the heart of it. that's the theme of my take, top of the 11:00 hour. governor ron desantis, florida, just beat trump in a 2024 straw poll for the second time. i wonder what kayleigh mcenany makes of that, she's going to be on the show later. a whopping 96% of voters say the economy and inflation are important factors in determining how they vote in november. stephen moore on that, next. one more time ♪

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stuart: all right, we are 12 minutes into the session, the dow is up 260, the nasdaq is up 174. i like that, modest rally. president biden likes to blame our economic problems on putin's price hike; however, a new report puts the president's claims in some doubt. hillary vaughn has the story. what's the truth behind the president's blame game, hillary? reporter: stuart, wet the president is not only passing blame but also painting a very rosey view of the economy here is what he said in his jobs speech on friday. >> families are carrying less debt. their average savings are up. recent survey from the federal reserve found that more americans feel financially comfortable than anytime since the survey began in 2013. reporter: but some groups are calling out the president for misleading remarks. the job creators network ceo

says this , "this is a shameful attempt by the president to make it seem like americans approve of the current economy by dishonestly playing off seven month old data as a reflection of american's views today. we have the highest inflation in over 40 years and gas prices have more than doubled since the time biden took office, we all see it, despite what biden may think. the president in his remarks insistsed that putin's invasion of ukraine is what's causing prices for both gas and groceries to spike but take a look at this chart on inflation. it's clear that prices were climbing well-before putin invaded ukraine, and started their up-tick when president biden took office. stuart? stuart: all right, hillary, good stuff. thank you very much indeed. look whose here now, expert on inflation the man himself, stephen moore. right from the start, stephen, is there any immediate fix for the inflation, which we are now feeling? anything immediate that can be done? >> well, i'd love to see president biden say look,

we're going to put a pause on the climate change craziness and continue to drill and to get american oil & gas. i think that would start to bring the oil price down. you know, i was looking at those charts you were showing earlier on the show and it was amazing, because i think you said what 4.85 a gallon is the national average for the gas prices. stuart: 4.86. >> yes, it was about 2.39 or so a gallon the day that joe biden took office, so do the math there. that means that we've got a doubling in the gas price in 15 months. this is a result of policies that were implemented, these are self-inflected wounds, they're not a result of covid because covid is basically over, we should be seeing less inflation, better growth. one other quick thing. when the president was citing those survey results of how americans feel good about the economy, you know, there's a

new gallup poll that just came out about a week ago they've been doing this poll for about 40 years. they think the economy is head in the right or wrong direction only two out of 10 americans, stuart, only two out of 10 americans believe the economy is good or great. most americans feel the economy is fair or poor. stuart: well 96% of voters, i should say, say that the economy , and inflation, are very important factors for their vote in november. 90% also say gas prices are very important to them. i just got a message from a friend of mine whose a truck driver, who took a 1,000-mile drive in his big rig truck and it cost him $1,000 in diesel. in other words, $1 a mile. i mean, this is going to be a huge factor in the november elections, isn't it? >> it sure will, in fact, you know, high gas prices are just a barometer for how a president is doing. when gas prices go up, approval ratings for presidents go down.

we saw that under nixon, we saw it under ford, and carter. in fact, i would argue that inflation was the undoing of all three of these presidents so i never really answered your question. is there anything that could be done right now on inflation? it's going to take sometime to get this inflation rate down. once you let it linger for , you know, 14 months now, it's not going to go away right away. in fact, the first thing we got to do is just stop all of the spending. no more, you know, student loan debt relief, no more multi trillion dollar spending bills, no more build back better. i want to see congress starting to cut government spending, take the money out of the economy, rather than flush it into the economy. that would start to bring inflation down. stuart: it would but it's not going to happen. stephen moore, thank you very much for being with us. >> it may happen after november when the republicans take over congress and that might. stuart: let's look forward, stephen thank you very much indeed we'll see you soon. >> thank you. stuart: i found this a fascinating article, a writer for the wall street journal

detailed her electric vehicle road trip, which did not go well lauren: no, 2,000 miles from new orleans to chicago and back. kia ev 6 has a 310-mile range so she said all right, let's plan this out, we'll do seven and a half hours a day over four days, yeah, no, took a lot longer. they couldn't find places to charge or when they did they couldn't charge quickly, or cheaply, and actually cost them $170. that's an infrastructure headache in part. you can't find a station, when you need it, but then it takes a lot longer. i mean that many hours, eight hours in some cases. stuart: terrible pr for the ev industry. lauren: and for kia. stuart: has anybody thought what happens if we get rolling black outs this summer so you can't recharge your car at home, anybody thought about that? lauren: uh-huh. in theory going green is a wonderful ideal, but in reality, there's a lot of hiccups we have

to get through first. stuart: next case san francisco perhaps the most woke city in america. the district attorney boudine faces a recall vote tomorrow, he's likely to lose and that could be a turning point for cities with radical da 's. voters are fed up. that's my take it's coming up top of the hour. the grocery retailer "boxed" wants to help customers deal with inflation. they are going to eliminate shipping fees on food. radical move, the chief executive is here to explain. ♪ bogey's on your six, limu. they need customized car insurance from liberty mutual so they only pay for what they need. woooooooooooooo... we are not getting you a helicopter. only pay for what you need. ♪liberty, liberty, liberty. liberty.♪

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stuart: boxed, it's an online grocery retailer and it wants to help customers out with rising food costs, so, "boxed" is eliminating shipping fees on food for a year, if you pay $1 as a membership fee. not a bad idea, huh? look whose here, this man is now first guest on set in our brand new studio, so you can see a little perspective. >> so exciting it's going to be a trivia question one day.

stuart: this man is chieh huang, the ceo of boxed joining us now. so you're eliminating shipping charges on food for a year. you're going to take a huge hit, because the shipping costs are going way up. you're eating it. >> so what we're seeing is that the consumer is really in a difficult situation right now. so a lot of folks are spending just basically on necessities almost paycheck to paycheck or meal-to-meal so our customers said about 70 who live in rural areas really need the help so our boxed up membership fee where all orders basically ship free, we're discounting that down to a dollar for the year. hopefully it lightens things up. stuart: but that could be a lost leader couldn't it? >> it definitely could be. stuart: you're taking a loss on this and you know you're taking a loss but you might bring in a whole lot new members. also for the long term. we want to be known as not only for convenience but for good value so in the long run we hope folks will remember us when hopefully i don't see an end in sight but when we do finally

get there in a normal environment, for people to say back in the days during the pandemic, during that inflationary environment, boxed really built a name for itself. stuart: it's good pr. >> it is. stuart: people will like you for it. >> we hope so. stuart: i'm sure they will. what about baby formula, you got any? >> on and off. its been pretty surprising, i mean, like a lot of the things you could have seen around the corner of supply shortages, but this one caught the entire industry by surprise and so we've got some here in new york city, we've got some in some fulfillment centers but it's pretty spotty as with a lot of things on the shelves these days stuart: is that true not just baby formula but paper towels and toilet paper. all that stuff. >> yeah, so i think this summer i think beverages you're going to start to see kind of increased prices or shortages just because already these factories are pumping it out at full capacity you add in the increased demand of the summer we don't know where that's going to go. stuart: do you have a price increase set in for the products

that you distribute? like 5%, 10%? >> so it depends on the category but we are certainly up. in the beginning i remember just few months ago we were on the show and said we think the consumer is strong, they can take it, but it hasn't abated and so our thinking is like where does this end? and so as we discussed with these suppliers now bringing on more cost increases, where does it end for not only retailers but for the consumer and that's what we have our eye on. stuart: not looking good, but ch ieh, thanks for coming back to us, you've done very well, congratulations, sir. still ahead, pete hegseth, the governor of montana, joe concha, kayleigh mcenany, and a whole lot more. the 10:00 hour of "varney" is next in the new studio, too. why don't you just meet me in the middle ♪ ♪♪ when safe drivers save up to 30% on their auto insurance for not answering their phone while driving,

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♪. stuart: good choice of music, folks. it is a beautiful morning. that is new york city. it is beautiful to be in this brand new, big, palatial stupid quote. studio. i got to sy. this is not a throne. this is a nice seat, okay? lauren: king on the thrown. stuart: so the dow is up 240, the nasdaq is up 178. 10-year treasury yield, look at

that, please. look at that, 2.98%, perilously close to 3%. oil, the story of the day, getting close to $120 a barrel. you know what that means? gas prices will continue to rise. bitcoin struggling back to 31,000. the bitcoin is having a nice rally. the crypto guys are happy up to a point. now this. the appeal of wokism is fading fast and that's a good thing. a deluge of street crime is overwhelming our cities. voters are holding radical woke politicians responsible. it is time for a reckoning. in san francisco, perhaps the most woke city in america, the district attorney faces a recall. chess is a boudin is accused of coddling criminals. he ended mass incarceration, eliminating cash bail and blaming the police for everything. voters are not happy with the

results. he is likely to lose. san francisco mass already ousted woke school board officials who tried to change the names of 44 schools like abraham lincoln high. couldn't have that. woke is not doing well. booed -- boudin's defeat would be a turning point. look out los angeles philadelphia, elsewhere, they have radical d.a.s, break down of law and order. crime is second only to inflation as an election issue. voters are fed up. no wonder. over the weekend there was urban may emhem. shootings in phoenix, chattanooga, philadelphia, south carolina. we got muse that the youngster who ran down this mother and her baby got five to seven months in a juvenile detention facility which is described as just a bit tougher than a summer camp. d.a. george gascon approved of that. when there are cameras everywhere recording everything,

the public becomes very aware of a failing justice system. watch that san francisco vote tomorrow. wokism is now in the rear view mirror. that is good. second hour of "varney" just getting started ♪. stuart: look who is here in this vast palatial studio. we're almost lost here. pete hegseth. >> i'm here with king stuart. stuart: don't do that. i'm an american. >> you deserve that. an american king. stuart: is wokism dead? >> i wish. i would disagree with you though. it is not. here's the thing. what voters in these democrat-led cities are experiencing is long add damage ideas have consequences. ideas have consequences in your real life. you can talk about it on a college campus. you can profess it as a candidate. when you let the criminals roam

free. stuart: take their side everyone -- be liberals, democrats potentially recalling radicals, that is what is happening. here is why wokism isn't dead. because our school systems all the way down to elementary, middle school, high school, are pumping out future indoctrinated activists who believe the things being implemented in these cities. older voters, old school liberals, old school democrats are rejecting them because it is making their lives worse. it will be more difficult to reject it with young generations of americans who believe america is a bad place, systematically racist or all cops are you know what. when that is the overwhelming ideology it becomes more difficult to confront it because they don't have the lexicon or the baseline. to your point right now this is a wake-up call for democrats, the democrat party, for the foreseeable future they will not win elections if they can't make people's lives better. stuart: democrat party wagging the dog. >> you see it in congress

pronancy pelosi, steny hoyer, old school democrats battling a younger crop of socialists who see the world different. stuart: only 28% approve of way president biden handling inflation. it seems the president lost the country on the vital issue. am i going to door in in that? >> he lost the country on handling of afghanistan. it was beginning of that. this is continuing of confirmation there is idealogical war going on in the democrat party but there is competency problem here too. some is intentional. war on energy. on fossil fuels, that is an intentional assault on the bedrock of our economy by the left. then there is also the inability to stress basic concerns. inflation chief among them. issue, they don't have solutions. all they do is point fingers. baby formula has only gotten worse since they identified the problem. that is basic government competency problem, that will land in the lap of the joe biden

and democrats. a good thing electorally for conservatives. stuart: to change the subject entirely. today is june the 6th, most americans know is d-day. they don't know it is pete hegseth's birthday. as a birthday gift to you, viewers can preorder your new book, "battle for the american mind," which hits the shells next tuesday. >> that's right. i will be with you on tuesday to talk about it. the fact i talked about it, our school systems for 100 years have been captured by the left. thank you for the happy birthday. you delivered me mountain dew on our show yesterday. stuart: on "fox & friends." >> an earth birthday group. stuart: they had special flavors including pickle. pickle mountain dew. >> smores mountain dew. not bad. stuart: as long as you have caffeine content what do you need? lauren: in addition to coffee? >> plus coffee. three to four mountain dew as day, that is what keeps the train running on the track. stuart: you do that. >> i switched from real mountain

dew to diet mountain dew because of calories. that is so good, the nectar of the gods. mountain dew. stuart: the studio is yours for the day. who have we got on the markets today? i tell you who we got, jeff sica he is back dow is up 320. nasdaq up 220. that is a rally. start with amazon, trading at vastly lower price, 20 for one split. 127. that is a big gain. are you buying it? >> no. stuart: just come right out with it, jeff, no. >> the fact is when a stock splits people have to realize you're not really getting anything, you're not getting anything different. stuart: it makes it more accessible. >> it makes it more accessible. it might go into the dow jones industrial average which is big for amazon. you also have the potential of a doing what it did the last time

it split, which it split four times pre-2000 and went up 45% in the month after the split. stuart: you're not buying it? >> i'm not buying it. the reason i'm not buying it is that amazon has some deeply embedded problems. stuart: like what? >> one of the main problems they have, they're sticking with their business model which makes sense which is to deliver at the lowest price. their shipping containers are now double what they were. costs double what they were. you also have a lot of excess capacity. a couple weeks ago they disclosed that they have excess capacity in their warehouses which means products are not moving as fast as they are. with fuel costs in the stratosphere they just can't make the margins. their free cash flow, the money they're spending to make money, is in the negative. so they have a lot to worry about at this point. stuart: you're not buying them.

okay. i got that one. elon musk, he is threatening to call off his 44 billion-dollar acquisition of twitter. he says they're hiding data about fake user accounts. you've never liked twitter. you called it a garbage company. >> of course they're hiding. they're a garbage company. they're an awful acquisition. i'm all for free speech. i'm all for it. i think that is a great fight. i'm behind him but this company has mostly a lot of robots and fake accounts. all he wants to do is look under the hood and they don't want him to do that because they have been hiding this for a very long time. so i think if he doesn't get what he wants he should drive that stock down more and buy it at a discount. at a bargain basement discount. that's my opinion. stuart: get real drama out of you today. you were not buying amazon. >> new studio, pete's birthday.

lauren: he had mountain dew earlier. stuart: isn't that a beautiful studio? thank you very much, fox. that is george gorgeous. musk making headlines again. going at it with bill gates. lauren you're on the set. what is he doing. lauren: bill gates is complimentary of elon musk and tesla but he still shorts the stock. >> tesla is not short of capital and tesla has a fantastic job. the cars are great. i give a lot more money to climate change than elon or anyone else. he has done a great job but somebody shorting the stock doesn't slow him down or hurt him in any way. lauren: elon responded with one word. see it at the bottom, sigh. he will not meet with gates. they will not talk about common interests, climate change, philanthropy. he will not sit down with him until his 500 million-dollar short against tesla is removed.

stuart: there are other movers apart from amazon and twitter. you're looking at him. what's with n-phase energy? i presume it is up. what is it? lauren: leader on broader market. solar stock. they would benefit pro suspension of import tariffs from china. if the president says he will use the domestic production act to produce solar panels this stock will benefit. stuart: what is up with tesla? lauren: elon musk confirmed. total headcount will increase. sallied staff fairly flat. he could walk away from the twitter deal which removes an overhang. he would not be distracted for tesla shareholder. stuart: what's with red robin? i like their burgers. they're falling out of bed today. lauren: i haven't seen a red robin in ages. they're falling out of bed because they dropped from the

s&p small cap 600 index. they will be be replaced by yelp. stuart: for second time florida governor desantis beats trump in a 2024 straw poll. we're on that one. governor of south dakota, kristi noem, grew up on a farm. works alongside a third generation cattle rancher. she warns a food shortage is coming. more business leaders take aim at the administration spending agenda. they say the country is heading for economic downturn. the white house is way behind the curve. edward lawrence has that report next. ♪. only at vanguard you're more than just an investor you're an owner. that means that your priorities are ours too.

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stuart: the dow has moved up a bit more. now it is up 310 points. nasdaq is up close to 200 points a couple stocks that are moving, look at currying dr. pepper. they will be added to s&p 500 prior to opening of trading on june 21st. when you get added to the index your stock goes up. 4% higher as of today. business leaders all across the country really sounding the alarm over the health of the economy. edward lawrence at the white house. edward, what's the president's response to this? reporter: his response is more spending. that is what he would like to see to bring down costs as he said. the president biden brushing off the message from some of these miss leaders the economy could be headed for trouble. people like jeff bezos, jamie dimon, elon musk. musk sending a letter to managers saying he has a super bad feeling about the economy.

he wants to cut 10% of the workforce. over the weekend kind of walked that back headcount will go up but salaried employees will remain flat. in his economic address on friday president biden said he is doing everything he can to lower inflation but congress must pass more government spending. economists say government spending a big part of 8.3% inflation we have. a former economic advisor to president obama. if people would voluntarily cut back on spending that would really help president biden. >> the, accusations around how much did stimulus spending contributes did we give people too much money in their pock competentes? they're in some of the best financial shape they have ever been. the result is, demand is outstripping a supply a little bit. if people would pull back voluntarily the fed actually has less work to do. reporter: but the effects of inflation are undeniable. one retiree who talked to fox

planned to travel the country but has to go back to work because of inflation. >> i retired and started volunteering for good wil, the state of arizona. you know, kitchens, food kitchens and things like that. i'm not at liberty again to pay for travel back and forth to volunteer when i'm not getting paid. i need some compensation now. reporter: ceos in europe also offering the same warnings that we heard here in the united states about a possible slowdown or even recession. back to you, stu. stuart: i just don't see how you spend more to lower inflation. i just don't get that but you know. i inaway. reporter: what you're seeing is sort of a word game, because they want to spend more to lower costs for a small portion of people. they never really mention anything about inflation. just lowering costs in certain areas while inflation does what it does. stuart: spend more to lower costs. you end up raising prices.

reporter: certain areas for some people. stuart: you end up raising prices. reporter: right. stuart: that is my personal opinion. edward, thank you very much. montana's economy saw significant growth last year. their growth outpaced the growth of the rest of country. in montana, the economy grew 6.7%. that is strong. the governor of montana is greg giantforte. he returns as our guest this morning a possible negative for montana. your state could get really hard with high gas and diesel prices because i have never been to montana, but i know it is gigantic and if you live there you have to drive a lot. this is a negative for you, huh? >> well, stuart, thanks for having me on again. you're absolutely right. the foundation of our economy is agriculture, farming, ranching. you need to put diesel in the trucks. you need to put duessel in the tractors. we've seen oil and gasoline

prices double since joe biden took office. it's hitting our agricultural sector hard. stuart: is there, nothing you can do about it, is there? >> well, what we need to do, reauthorize the keystone xl pipeline. open up oil and gas leasing on federal land. get rid of regulations. it is pretty straightforward. stuart: it is not going to happen. >> it is not going to happen. stuart: will you cut the growth rate, 6.7% growth rate last year, you're not going to get that this year with a spiraling inflation for gas and diesel? >> well, we're diversifying our economy and i want to be clear, stuart, montana is open for business. people recognize the montana work ethic an quality of life. just last month we announced hyundai is moving advanced vehicle, research development facility to montana, maybe

opening up manufacturing here. we had "shark tank," mr. wonderful, kevin o'leary, he said clearly montana is top five destination for long-term capital investment. so we're diversifying our economy. clearly hit hard by gasoline prices but our economy is strong and we're open for business. stuart: what is your unemployment rate? is it around 3%? >> 2.3. stuart: 2.3%? >> record low. it is the lowest we've ever seen in the state. that's why we're inviting montanans to come back home and investing in trades education to fill the gap. anybody that wants a job, we're getting them training they need to get these jobs. so, again, 6.7% gdp growth in montana. that's inflation adjusted. so we're doing extremely well. and stuart, i just want you to know the invitation to come out is still here. i will be, i will be, i'm doing

events in 11 counties this week alone. i need somebody to ride shotgun with me. stuart: you know if kevin o'leary can get out there maybe i should too but i'm not promising anything. governor, it is always a pleasure to have you on the program. we hope you come again soon. thank you, sir. >> thank you so much. stuart: the governor of south dakota, that is kristi noem, warning that a national security crisis is coming. it's a food crisis she is warning about? lauren: you can hear the worry in her voice. she wrote an op-ed for foxnews.com. this is what she wrote. food security is national security. a crisis is coming. we need to insure america's food can't be held hostage by anyone. here is the deal. she comes from a farmer family. her lieutenant governor is a rancher. a farmer, rancher fundamentally understand the market, what is going on. they are very concerned that foreign companies control parts of our food supply and too few companies control it. she wants congress to hold

hearings on it. she thinks we're in a crisis now or about to be in one. stuart: got it. thanks very much indeed. it has been more than 100 days since president biden sat down for an interview. that is what will change this week. question, will it be a hard hitting interview? answer? probably not. he is interviewed by late-night comedian jimmy kimmel. a california in california reinstate as mask mandate for public indoor settings. seems like we're going backwards, couldn't it? dr. marc siegel is going to deal with that right after this. ♪.

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(fisher investments) it's easy to think that all money managers are pretty much the same, and do more incredible things. 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. stuart: markets show a solid rally. the dow is up 300. the nasdaq is up over 200. the s&p is up 1.3%. i will call that solid. we're looking at the movers and apple is a mover. it is up, i can't read it, 1.8%? what else we got. lauren: developers conference kicks off at 1:00 eastern today. it will take place over four days. we'll learn a lot about software, right? what about hardware? the new mixed reality. apple is working on this big

time. they reportedly might have it ready for next year. i'm thinking you get different content, different apps you can interact with wearing goggles essentially. think of all the morality issues coming up with all of that? stuart: morality? lauren: absolutely. stuart: why? lauren: things you should, shouldn't know about people as you're wearing wearing this hea. this is a new way human beings are interacting in the every day world instead of technology. instead of looking down or your wrist on information that you're getting it will be right in front of you. stuart: we may get a update what is in front of us for goggles. lauren: yes. stuart: we hope to see that today. that is interesting i got to say. apple is up on that. spotify, raymond james up upgraded them. lauren: to outperform. potentially recession resistant. investors like that. they gave them 150-dollar price target. stuart: eli lilly. lauren: diabetes drug reduces of

hospitalization for heart failure and death significantly in phase three trial. that stock up 3%. stuart: solid gain indeed. thanks so much, lauren. mask mandates are making a comeback in california. jonathan serrie has the story. jonathan, which particular county is going to be making us all mask up again, which one? reporter: start with almeida county, in the san francisco bay area. they reinstated indoor mask mandate for businesses. almeida county, which includes oakland, medium community level of covid activity according to the cdc but some local health experts are concerned about highly infectious omicron sub variant driving increasing levels of transmission. covid activity is medium in los angeles. the most populace county in california. masks are still optional there but local health officials warn if the cdc's community level goes up to high in l.a. county, they may bring back indoor mask

mandates. that is getting minsked reaction from l.a. residents. >> i think it is ridiculous. just, insane. keeps going on and on and on. just, i won't do it. i guess i can't go to concerts anymore. >> i would rather have the mask on indoors than close us again. reporter: of course something that could affect all of us, all of us who travel on planes, trains, other forms of public transportation, the justice department is appealing a federal judge's ruling against the federal mask mandate for public transportation. the cdc has yet to comment on whether it would bring the travel mask mandate back, if the doj is successful in its appeal. stuart. stuart: called going backwards in my opinion. jonathan serrie, thank you very much indeed. we need a doctor. we got one. there he is, dr. marc siegel joins us right now. you know, this is driving me nuts, doctor. masks making a comeback.

alameda county in california. i understand 13 counties in new jersey where the feds recommend going back to masking. trenton schools going back to masking. what is going on here? why? >> sacramento schools going back to masking. alameda county, home of wells fargo bank. first place where the trans continental railroad came to the west coast. i hope the people will not be masked in there. what is going on is politics, right? it is not public health. it is politics. you know why? even when mandate is in place, people don't wear the mask properly. for open cron sub variant they have to wear high quality masks. they're not wearing n95 or k n95. it is politics. it is a matter of choice, hasn't it? if you're concerned, or at risk, if you think there is a lot of virus and you can wear a mask indoor place. if a business wants to say that,

fine. but the government's super imposition doesn't work, it doesn't prevent spread of the virus. it is not preventing hospitalizations. interest are not a lot of deaths from it. all it is politics. stuart: you go to florida, you don't see masks. you just don't see them around. same with texas you don't see them. they're coming back elsewhere. every day -- >> by the way you mentioned, stuart, new jersey. it is leaving new jersey. there is no correlation between how much virus there is and whether the mask mandates are coming back. it is just politics because there is much fewer cases in new jersey right now than there was a few weeks ago. stuart: i was about to say that every day i look at the front page of "the new york times," they have this column where they look at new cases. new cases are down 7%. this is in retreat. yet we still have these masks coming back. i agree with you, it's all politics but it is very frustrating. it doesn't do kids any good,

does it? >> kids for sure. kids in school also don't wear masks properly. they also, it interferes with their sociallation and building bonds there is a huge level of depression and mental health problems going on as a result of masks. it is also the teachers unions of course as usual, right? they are only interested in one thing, teacher safety. not children safety or outcomes for children. that has been going on over a year now. it is very frustrating. it is continuing. it is virtue signaling as you call it. it is virtue signaling. again, stuart, i'm not against masks. i wear them in the office. i will choose to wear them in certain areas where i think i'm at risk. that is me. i have that choice. that is not the same thing as a politician telling you what they think is good for your health and being wrong over and over. stuart: am i right in saying this latest wave, which now appears to be retreating did not put many people in the hospital and did not, kill a lot of people? it is very mild virus, wasn't

it? >> it is a very mild virus in terms of death rate, very, have he low. it did not have the impact on hospitalizations on any of the previous waves. one of the reasons it's going down in the northeast now by the way, people have it, they get immunity to it, which again government officials are not talking about. when you get over a particular strain you have immunity for couple months of that. that plus the vaccine if you had that you have a certain substantial immunity. we're reaching a point with this virus where we're living with it. you saw jonathan serrie's report, people are saying oh, no, here we go again? people want to live with this virus now. they have the choice to take strategies to decrease their risks but living with it. stuart: they have want to move on. doctor, always great. thanks for joining us. see you real soon, doc siegel. >> absolutely, stuart. you got it. stuart: astrazeneca has a breast cancer drug shows signs of reducing the death rate but the stock is actually down.

what is -- lauren: very promising trial. the drug is called inhertu. phase two trial showed it reduced breath cancer death 50%. it improved over all survival by six months. considered not only a break-through but practice changing for breast cancer and breast cancer treatment. yes, the stock is down. stuart: we got it. look at this. this is an op-ed, story came out in "the wall street journal," here is what it read. i rented an electric car for a four-day road trip. i spent more time charging it than i did sleeping. whoa. there is indictment of the ev market. the full story for you coming up. energy providers sound the alarm over surging coal prices. they have more than doublessed in the past year. jeff flock has that story. jeff is next. ♪.

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♪. stuart: the rally is holding pretty much. the dow is up nearly 300. nasdaq is up over 200. that's a rally. elon musk made headlines last week after he announced tesla would pause hiring and 10% of its workforce could be cut. hey, ashley webster, good morning to you. ashley: good morning. stuart: musk is backtracking, what did he say? ashley: he put the whole conversation in reverse by tweeting quote, total headcount be increased not cut by 10% but salaried should be fairly flat. there is that tweet. not apparently a 10% cut in tesla's workforce as was discussed over the weekend. that may have helped calm some investors nerves only perhaps until the next tweet. last friday morning musk said he

had super bad feelings about the economy and sending tesla shares down 9%. today they're up 3%. last month asked by potential recession musk responded. it has been raining money on fools for too long. some bankruptcies need to happen. musk also told workers to return to the work place or leave the company. at last count by the way tesla had right around 100,000 employees. but each day the tweets change and the reaction to them change as well. stu. stuart: ashley, i want to see your coverage of this one. a writer for the journal decided to take the road trip, new orleans, chicago, round-trip and back in an electric vehicle. i know it didn't go well, did it, ash? ashley: no. i always wanted to do something like this by the way. journal writer rachel wolfe actually did it. to answer your question it wasn't easy as well. she rented a new kia ev-6 with battery range of 200 miles.

she aimed to make the 2,000-mile trip in four days charging the vehicle once or twice a day, right? not so simple. finding chargers, fast chargers promise 80% boost 20 or 30 minutes was a real challenge. at one point in a rainstorm, the charge level dropping drastically they had to take action. listen to this, quote. to save power, we turn off the car's cooling system and the radio, unplug our phones and lower the windshield wipers to the lowest possible setting while still being able to see. that says it all. most of the charging stations were crassfied as level 2 which requires about 8 hours for a full charge. yep, she fell behind schedule. constantly fighting the fear of running out of juice. on the upside the cost was cheaper than regular gas. ah-ha. until a comprehensive charger network is put in place. i think it shows ev should stand for energy vulnerable.

stuart: very good. very good. that ask the worst piece of pr for the ev industry he can imagine. great to see you back again, ash. one of the these days you will come to new york for our new studio. coal prices jumped over 40% just this year. jeff flock is with us. are anti-coal policies to blame for the runaway price of coal? reporter: absolutely not, stuart. nothing to do with it. joe biden loves coal. in fact i think he is planning to put some in your stocking this christmas. stuart: very very good. reporter: maybe not. focus on green energy at expense of coal-fired power plants the one behind me in philadelphia, richmond generating station long shut, coal-fired plant. you can blame ukraine as well. boycott of russian coal. switchover to what had been cheaper natural gas, all of those factors, whoever you want to blame, take a look at the price is.

you said 40% in the last year. i can top that. this time one year ago, it was 61.55 for ton of appalachian coil. now it is $129.65. that is 100% increase. that is shock wholesale electricity prices. government says up 77 to 233% year-over-year which at some point we'll have to pay for. curiously enough, use of coal, as high as it is right now may have helped moderate those prices. take a listen. >> certainly been a surge in the price of electricity. that is mostly been due to the spike in natural gas. coal, because it is sold long term, those utilities have coal on site. they're using the coal that they have stockpiled as a shock absorber to try to keep some of that prices down. reporter: problem is, stuart, when they to back to buy new coal it will be much more expensive. i leave you with one statistic. the shutdown of coal-fired

electric power plants, between 2015 and 2020, we shut down about 11 gig as year, gigawatts a year. a gigawatt by the way, powers 700,000 plus homes. last year a little less but this year we'll shut down even more coal-fired power plants. the question is, is there something to replace them. i don't suspect ashley is using electric vehicles so maybe that takes some of the -- stuart: i think so. shot just messed up right there. jeff, we did get the report. thank you very much indeed. britain's prime minister, boris johnson, facing a vote today that could remove him from power. all about the lockdown parties he had at downing street. we have details for you. queen elizabeth makes a surprise appearance after skipping some of the jubilee event. she made it on the balcony again. to me it was triumphant, triumphal return. i wonder if joe concha agrees? he is on the show next.

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stuart: where's your money this monday morning? big drop on friday. nice rally this monday. dow is up 300. nasdaq is up 220. all right, the uk's prime minister, that is boris johnson, he is going to face a no confidence vote later today. ashley, give me details, please. ashley: yep. it is all about party gate. pressure has been mounting since details of covid rule-breaking parties in downing street were highlighted in a report. a number of conservative mps called for johnson to step down and have force ad confidence vote on his leadership which will take place today from 1:00 p.m. to 3:00 p.m. eastern time. to win, johnson needs to secure a simple majority but if he lose as leadership contest, if he loses a leadership contest would follow which he would not be allow to stand in. if he wins the rules state, tory mps would not being allowed to hold another confidence vote for at least one year. i checked the latest odds on

bookies in uk. most have boris's odds on favorite to win the vote at four to one on. meaning you have to bet four pounds to win one. piers morgan, 150 to one to take over leadership of the conservative party. stuart: that is not a bet i would take. ashley: no. stuart: ash, see you later. queen, as in queen elizabeth, made a surprise appearance on buckingham palace to mark fein al jubilee celebration. joe concha is here. it was an absolute triumph. i know you were watchingals an american watching the monarchy in britain, what do you think? >> i hope stu, when i'm in the mid 90s i have the ability to surprise people, right? in a year with so many horrible moments and events in the news, ukraine, uvalde, brazen horrific murders, crimes, we seen carried out on the news on nightly

basis, this is good moment with the crowd singing god save the queen. stuart varney should be united. if phil collins and elton john can be called sir, why not stu, i'm shocked you were not there by your side a former brit yourself. still a brit. stuart: they don't hand out knighthoods to people who renounce their sovereign. if you become an american citizen you renounced sovereign. so you don't get knighted. that is the which it is, son. president biden will make first late night appearance since taking office real interview actually. i don't think it is a really interview. it will be on "jimmy kimmel live" on wednesday night. he will not get hit hard, is he? >> we need serious people to solve serious problems. you talked about it on the show. 40-year high inflation, record gas prices a border anything but secure, instability abroad. so the president, who hasn't done a broadcast tv interview in

nearly 17 weeks, not since the super bowl, he is running to comedian turned activist, jimmy kimmel. jimmy does what he does best, pucker up to any democrat on the show, dwindling audience, distant third behind greg gutfeld and stephen colbert how evil republicans are. joe biden sit down with bret baier a someone who is serious journalist, answering marred questions, when he says something intentionally misleading blaming vladmir putin for current gas prices. when he said no vaccines when he came in office or blames donald trump for the current catastrophe at the u.s. southern border. if your approval 50s, 650s, fine go on all the late night shows you want. have only one quarter of democrats say the country is heading into the right direction, maybe you reconsider running to comedians, instead it sitting down and facing tough questions. stuart: i'm is little surprised more people are not rallying to the president.

he is facing crises from all over the place, including a foreign war. i would thought there would be rally around the president but i'm not seeing it. >> i think because he is mainly seen as incompetent at this point, stu. that is poll after poll showing that. 2/3 of the country says, this president, this administration is slow to react to crises. i think he has lost the trust of american people and particularly the trust of those in his own party. not everybody of course. we're looking red tsunami in november and more democrats don't want the president to seek re-election in his 80s, the considering the way he is performing his job now, stu. stuart: come into the studio. we have a brand new palatial studio just waiting for you joe, see you real soon. >> it looks nice. you don't need to be knighted. you have a new studio. stuart: this is thrown i'm sitting on, son. we have steve forbes.

kt mcfarland and charles payne all on deck. you know, we are in an inflationary spiral. i lived through the inflation of the late 1970s. nothing like this. it is the speed of the price hikes getting to me. that is what gets people so nervous. more on "my take" next. ♪. ...

>> this is a wakeup call for democrats and the democrat party, that for the foreseeable future they will not win elections if they can't make people's lives better. >> these are stupid people with stupid ideas stupid policies and the results are cataclysmic for the american people. we're in a spiral that's only going to get worse unless they change courses. >> if the fed doesn't gain control of this i think the risk of that is very real and far more real than people care to admit. >> sooner or later i think we're going to have some very difficult days to have to manage through. i don't think the worst is behind us. i think we're in one, stuart, but i think mid-july when the data comes out we'll see we are in a recession. >> we've got a doubling in the gas price in 15 months.

it is self-inflicted wounds, not a result of covid. are you ready for a new sensation ♪ stuart: are you ready for a new sensation? yes, i am, actually, and we're looking at it, because this is our brand new studio and look at that. lauren: [laughter] stuart: it's huge and it's monday, june 6, all day, that be d-day for us. check the markets, i see the dow is now up 320 points, that's a rally. that is what, what's the percentage on that? almost 1%, thank you charles, s&p 500 up 1.4% the nasdaq is up 1.7%. a rally across-the-board. show me oil. earlier, it approached $120 a barrel, backed off the 118.58 but you know what that means? gas prices will continue to go up. the 10 year treasury yield getting real close again to the 3% level, it crossed it. now, it's at 3.02%.

that's the 10 year treasury yield, so real movement this morning in various markets. now this. we are in an inflationary spiral i've never seen anything like it i lived through the inflation of the late 1970s but it was nothing like this. it is the speed of the price increases that gets to me. that's why i call it a spiral, and that's what gets people so nervous. when is it going to end? there is a deeply-pessimistic mood in the country today, and the inflation spiral is at the heart of it. people are scared, people are angry. in a non-partisan poll quoted in the wall street journal, 38% said they're getting worse off. remember reagan's question to carter? are you better off than you were four years ago? if over one-third are worse off after just 18 months of biden, the democrats are not looking good. inflation is eating away at the american dream. half of the voters polled said they do not have a good chance

of improving their standard of living. to say that moral is low is an understatement. so where's this going? the pace of inflation is not slowing. gas up 4.05 a gallon, everyday, regular is up $0.25 in a week, you probably saw the price at your local station change every time you went there, and the administration just throws up its hands. biden said last week there's nothing to be done about it. well by the end of this week $5 gas will have spread to half the country, rolling blackouts are coming, and who knows what you'll pay for local bread. the national mood has not been lifted by spring or the end of covid restrictions. its been soured by an inflationary spiral that is far from over. third hour of "varney" starts right now. kayleigh mcenany, i didn't see

the prompter there, i was looking at this new studio. lauren: it's beautiful. stuart: the palace that we're sitting in. delightful, kayleigh welcome to the program. >> thank you. stuart: welcome to the studio. >> yes. stuart: have you noticed a real negative shift in the nations mood? >> there's no doubt about it. anyone you talk to biden voter or not, you see it. one poll that i saw that came out said 83% of voters say the economy is very important to their vote or the most- important issue that was 4% who said oh, not an issue that's basically the president's chief of staff, his wife, and a few other extreme partisans out there. you can sense the mood shifting and then question is what's biden doing to change the mood and really the answer is nothing stuart: i don't think he can do anything. well he could do stuff but the left won't let him. he could stand up there and say come on let's drill and go get the oil. let's go get the nat gas. let's frac like crazy, but he cannot say that. you're right. stuart: the left won't let him. >> there's an immediate solution that he's beholden to the left so instead of focusing on the policy fixes, there's an

interesting quote, way at the bottom of one of these pieces last week that inside advisor said i'm frustrated because they are focusing on the messaging not the policy. that's the case and a cnn piece there's an advisor who said at the top, hey, what can biden do to change getting covered because they're very frustrated no one is covering the president i have an answer. the reason president trump was covered so much in addition to being very interesting was he was always doing press conferences. he was always taking questions. he was always doing interviews. when you do these scripted appearances around the country, visit a factory, people don't cover that. they will cover the kimmel interview on wednesday night which i think -- stuart: i mean, the man's a comedian. >> yes. stuart: it's an activist, a left wing activist is this guy. >> that's right. stuart: that's the only interview this president will do in the last hundred days? >> it's perhaps if you remember at the white house correspondent 's dinner president biden was sitting there laughing when jokes were made about inflation, granholm, his secretary of energy, laughed when asked about how she would

reduce gas prices. his press secretary laughed when asked an inflation question so perhaps they feel kimmel is a fitting place for them. the american public, they're not laughing. look at every single poll. i can't find one where no one is taking the economy seriously. stuart: surely you'd like to be president biden's press secretary to straighten things out. >> of course, i keep putting in my application but i'm just somewhere near the bottom of the pile. stuart: and you are in this love ly studio. >> i love it. stuart: kayleigh you're all right thank you indeed. we will be watching you you'll be on "outnumbered alternative it's a great show, noon eastern on fox. >> you're getting farther to have you on the show. you'd have to run to make it by noon. stuart: i couldn't make it unfortunately but i like it. thanks, kayleigh. president trump just lost a straw poll among possible 2024 republican presidential candidates. ashley, come back in again. i think i know who won. tell us. ashley: i think you do. ron desantis, governor of

florida, once again, swept the straw poll for a 20 think 2024 presidential candidate at a colorado conservative conference the attendees approved of a potential desantis candidacy for the republican presidential nomination at 71%, donald trump coming in at 67%. by the way, coming in third, with 29%, was senator ted cruz of texas, former hud secretary ben carson got 24% and claiming the fifth spot was sarah sanders trump's press secretary and current gop nominee for arkansas governor had 18%. desantis by the way won the vote of the same event last year, just edging out donald trump, but we should point out, he's not declared his candidacy for 2024 while mr. trump has strongly hinted numerous times he plans to run for the gop nomination. stu? stuart: strong hints, both or frequently. that's a fact. ash, thank you. a senior advisor to president

biden, jean spurling claim the president's $1.9 trillion american rescue plan provided resilience to the economy, despite inflation soaring to record highs. watch this , please. >> one of the things we've seen come from the american rescue plan is resilience to this recovery. you know, john, i have reporters calling me when delta hit, when omicron hit, when putin went into ukraine saying is that it? will that derail the recovery and so far, you've seen resilience and i think that has a lot to do with the strength of the american recovery act. stuart: charles payne is with me , and he was watching that brief clip there and he was rolling his eyes. what's the problem with resilience? charles: no, it's just sort of like mcdonald's bragging that they saved america from bulemia. >> [laughter] stuart: [laughter] charles: you put us over the edge, my man, yeah, we got money, that's not the problem. the problem is it doesn't go

anywhere. i'm glad i got a fat bank account. now, tell me i can buy anything with it, you know? i keep telling people it comes down to this. you walk into the store with more cash than you had before, but you walk out with fewer bags that's all it boils down to. you're bragging about that because that's essentially what he's trying to do. stuart: but they don't have an answer. charles: just like kayleigh said it's about messaging. everything is messaging. stuart i'm so frustrated every time president biden opens his mouth he brags. what the hell are you bragging about? be humble for one second, you know? if you get jim roger, remember jim rogers used to have great sayings. one of them, if you give me a trillion dollars i'll show you a good time too, right? i mean, you pour trillions of dollars into an economy that did not need it. of course people have bigger bank accounts, of course people didn't go to work because you paid them not to work. unemployment levels went there, but you sparked something that you can't control. this spiral, this inflation spiral is deadly. last time we had an inflation spiral it lasted from 1965-1982.

what are people afraid of? even folks who weren't born to understand the threat that this could be something that hovers over their life, over their entire adulthood, over their children's growing, this could be something that lasts a couple of decades. stop the messaging. stuart: and how was that inflation brought to an end? i'll tell you. the chairman of the federal reserve, he imposed a huge interest rate hike, the economy went into severe recession, and that did cure inflation. charles: paul volcker. stuart: we going to do that again? charles: everyone keeps asking and we've heard policy, wants to be paul volcker, you know? it remains to be seen. i don't know that in this kind of climate you can do it. also things changed. look at our debt levels. stuart: huge. charles: if we did a paul volcker kind of move our country be paying over $1.5 trillion aishah hasnie year in interest. what can you do of $1.5 trillion paying the interest on your debt so we're in a different

predicament than we were when paul volcker was then a bold move. i don't think there's a political will out there. i don't think this administration wants to see it. they want the fed to be there as a fall guy, but you know, that kind of action, president biden is talking a good game, but he doesn't want to see any kind of massive recession, which a lot of people are starting to come to say that's the only thing that would cure this. stuart: i want to hear more about this so i'll be watching you on "making money" with charles payne, 2:00 p.m. eastern here on fox business, charles thanks for being here. charles: thanks a lot. stuart: lauren come intel me about tesla. lauren: kellyanne it is today 1.5% but obviously its taken a hit since elon musk's twitter proposal but we do have positive catalysts on the way for tesla, shanghai reopening their ai day coming up in september, and i love this story. so, people who have gotten the new ford f-150 lightning say it comes with an adopter that can charge a tesla. stuart: oh, really? lauren: yeah take that, help arrival when in need.

stuart: yeah, and ford is at 13.51 a share. lululemon are they up or down? lauren: up, they got an upgrade by bernstein the market performed $300 price target a little bit lower than they are at now but they see room for international improvement and expansion of their men's department. stuart: jetblue, and frontier, what's the story? lauren: jetblue has now sweeten ed their bid, for spirit ahead of spirit shareholders voting on this merger, voting with frontier, jetblue raised cash offer to 31.50 a share and increased the breakup fee to $350 million should the deal fall on anti-trust ground. stuart: all right let's see if it goes through. netanyahu case, the praise of gas now more than double when president biden took office, we are on that, national average today, 4.86. after weeks of lockdown, china is finally pulling back on some covid restrictions. restaurants are back open in one major city, tell you all about that.

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stuart: a loss, a heartbreaking loss for ukraine's national soccer team. they did not qualify for the world cup. tell me about it, please, ashley ashley: yeah, it came down to one game in the pouring rain in cartif, and the ukraine's bid for a world cup appearance fell just short cruel it losing 1-0 on a goal by ukraine's yamalenko. the game was put on hold due to russia's invasion of ukraine and the fact they got this far was

remarkable in itself. you saw the goal there. the team's head coach of ukraine volunteered to fight the russian s but at 64 he was told to stick with coaching the national team but it wasn't to be. the result means wales will now take a slot in group b, and they take on the u.s. in the very first match. england and iran are in the same group, so my mother's english, and i'm a u.s. citizen, that is the very definition of conflicted, indeed. stuart: [laughter] well-said, ashley. let's get serious. heavy fighting and lots of destruction continues in the eastern part of ukraine. mike tobin is over there. tell me about the new warning from putin, please. >> well, vladimir putin said, stuart, is that russia will hit targets we haven't seen yet if the west continues to send longer range weapons to ukraine and this is a day after he struck here in the capitol. five missiles were launched, four of them hit warehouses used to repair railcars.

british intelligence says the strikes were intended to disrupt weapons delivery. russia said the target was a shipment of tanks. i was part of the media tour at that target. there was no visible evidence of tanks or any other military equipment. meantime, ukraine is using technology to turn to the public for help, solving war crimes. >> in discriminate artillery in residential areas, mass graves where civilians have been found, hands tied, apparently executed. a few examples of why ukraine is called by some the world's largest crime scene. using technology like it has never been used before, ukraine is turning to the public, crowd sourcing part of the evidence gathering. ukrainians are uploading photos and videos documenting war crimes through a government website and even a chat bot, a telegram app on their cell phone s. >> we see now unprecedented crimes.

that's why people want to help. >> with war raging and russia controlling regions, investigators can't get to places like mariupol, but the public is helping, the prosecutor general has received more than 50,000 videos , a team of 100 prosecutor s vets the evidence to build cases. >> when you have civilians participating in the evidence gathering, doesn't that create a pretest for the russians to target the civilians? >> you know, they target civilians everyday and for people, absolutely, i think they don't mind about this. reporter: ukrainian president zelenskyy made a trip to the front lines and promised refugees they would return home. this is the second time he's left the capitol city since the invasion. stuart? stuart: all right, mike tobin right there, former nato commander is warning that a new front in the war in ukraine may emerge.

roll tape. >> you're going to see another, if you will, front open in this conflict, which is going to include escorting grain tankers in and out of odesa and i think that mission will probably be undertaken by the united nations , by nato, by the united states, and our allies, but it's going to be a new front in the war that i think will emerge over the next few weeks. stuart: well that's quite a prediction and kt mcfarland knows a thing or two about foreign policy and joins me now. all right, kt, do you think the u.s. and/or nato ships should escort ukrainian grain tankers to helplleviate the food shortage? >> yeah, absolutely. i mean, any country with a navy, frankly, should help escort those grain tankers as well as other kinds of food stuff commodities carriers out of the ukrainian ports. this is not just about ukraine. this is about the world, and ukraine doesn't just export wheat, for example. it exports sunflower oil.

sunflower oil is a major ingredient in fast food and vegetable oil. we are looking within a few months at a major food shortage, probably not as much in the united states because we're very abundant with our farmlands and our agricultural industry but around the world. it's going to hit the middle east. it's going to hit africa. there will be starvation, mass exodus, there will be refugees leaving these regions so yeah, i think we should escort them and other countries with a navy should escort them and i wouldn't wait until the russians start blockading ports. i'd start doing it now. stuart: would you say do it now, even though it may create a more intense situation with maybe u.s. navy ships going at it with russian navy ships. that is a possibility isn't it? >> but here, it's not just u.s. navy ships. i would say again, any country with a navy who imports wheat and oil should be part of this

convoy protection. russia's not going to take on the entire world over this issue , and to do it is frankly a matter of deterrence. now are we going to risk being in the black sea where the russians have said no, this is ours, stay out? we've been in the black sea for years, so no, i think that this is one place where again, it's not just about ukraine now. it's a humanitarian disaster that will we'll be facing not just the region, not just europe , but frankly the whole world within six months. stuart: well, kt, joe biden' commerce secretary gina romando says the administration could soon relax tariffs on chinese goods to combat soaring inflation here at home. should we be doing this right now? does it send the right message to china? >> it isn't send the right message. it tells them go ahead and take advantage of it, but it also isn't going to solve inflation. the only thing that's going to really take a dent out of inflation is if president biden

lifts or pauses or halts his war against american fossil fuels. that's what's driving inflation. it's gasoline prices. it's diesel oil prices. it's the fact that petroleum is used in everything from cosmetic s to clothing. stop that war on fossil fuels, on american fossil fuels, you'll fix inflation so fast but yet they won't do it. stuart: he won't do it, because he can't do it, because the climate crowd won't let him. that's where we are. i think we are paying the price for their green dreams. last word to you. >> absolutely. that's why they're not going to have a job after november of 2022 and the biden administration doesn't have a job after 2024. the american people are really mad, and they're not going to let the american people be taken advantage of by a gang. stuart: i knew i'd get to the good stuff, kt mcfarland, thank you very much indeed for being with us today. opening up, good stuff.

now, we've got t records. it's not political at all, and one critic says that's why people like to go and see it. we've got a report on that. transportation secretary pete buttigieg says the economy is the president's top priority so why is the president at the beach? steve forbes takes that on, 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. ♪ ♪

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rates up, usually stocks tapering off a bit and we're now at 3.03 on the 10 year treasury yield. as for bitcoin, nice recovery. we're back to the 31,000 level. now show me dr. pepper. they're up on the news that they will be added to the s&p 500 index on june 21. when you add to the index, your stock goes up. got it. beijing easing more covid restrictions. cases continue to fall over there. ashley? i believe the restaurants are opening up again, is that accurate? ashley: yes, they are, stu. diners have returned to restaurants in most of beijing, except for a few neighborhoods for the first time in more than a month, also museum, cinemas and gyms are now allowed to operate up to 75% of capacity and guess what delivery drivers can once again actually bring packages to a customer's door instead of leaving them at the entrance. schools wilfully reopen on june 13 followed by kindergarten

on june 20. now, the draconian measures were taken following a covid outbreak but get this , infected about 1,800 people over six weeks in a city of 22 million. that's covid zero covid policy by the way the number of new cases dropped to just six this past weekend, but, in both beijing and shanghai, anyone entering the subway or an office building, shopping mall, or other public place, must show a negative test result within the past 72 hours. that's your government at work in china. stuart: a real pain, isn't it? if you got to get tested all the time and its got to be negative. ash, thank you. transportation secretary pete buttigieg defended president biden's economic record. listen to this , watch it. >> if the president's made clear that inflation is his top economic priority and he's laid out a very clear strategy for doing that. stuart: okay, steve forbes come

on in, please, the voice of reason. i think we're in an inflationary spiral, and that's what has me worried, because prices are changing, going up so fast that we feel anxious about it. i think it's real dangerous. what about you? >> it is and this gets to something we all know energy prices are going up, but what's not fully realized especially with this administration is theres going to be a shortage of energy. opec does not have much spare capacity left. they're almost at the end of their capacity, so they're not going to come to the rescue, and capex in this country is only two-thirds of what it was in the oil fields, in 2019. that takes months, if not a year or two, to get backup to speed, so in the meantime, with china coming having their economy come back, we face real shortages which means higher prices, which means a slow or recessed economy. i don't think this administration fully grasps just how dire the energy supply situation really is.

in europe, stuart, natural gas is now over $30 versus $9 in the u.s.. stuart: can you imagine what will happen in america if we get anywhere near that? at the moment, it's $9 per million british thermal units for nat gas in america. it's 30 in germany. i understand that. just imagine what happens if we spiral up, keep spiraling up with gas and diesel and nat gas. i don't know what people are going to do, quite frankly. >> well you're going to have huge pressures to have more so-called stimulus or bailout packages for consumers which means the federal reserve 's anti-inflation fight is going to go right out the window which is going to undermine confidence. you can see how this thing can spin-out of control and that's why this administration should start realizing that even measures now that may not take effect for a while would have a good calming influence starting by taking that xl pipeline, the

keystone xl pipeline they canceled and announcing it's going forward which will eventually bring 800,000-barrels of oil from our friends in canada. stuart: it'll never happen though will it? they're not going to do that? >> not until the election when suddenly, they're going to realize they have to pursue other economic opportunities in 2024. that'll get their attention, nothing else will. stuart: i mean it really looks bad for the democrats in these mid-terms, because we've got these polls showing that the key issues are inflation, gas prices , and the economy and they're failing on every count. >> and worse, they're seen as out of touch with what reality is. what the president said on friday, oh, happy days are here again. you may not know it but you're really well-off. well, every time you go shopping people know that. this leads to a deadly situation , politically deadly, where people don't believe, they don't have trust, and that under mines, that's bad for a lot of reasons and without lack of trust, if democrats are going to

take a shellacking and they deserve it. they haven't been truthful to the american people. stuart: who would have thought they would go down hill so fast. 18 months ago he walks into the white house and 18 months later, he's in real political trouble. who would have thought that? i didn't see that coming, did you? >> not on that scale that they would so be oblivious to other than the extreme left of their party they be oblivious to the rest of the country and the consequences of their policies. they could know how to their politicians around who can say the right words, but pursue policies that don't end up, up ending the economy, so instead they upend the economy and then they tell us, oh, it really is in good shape. it isn't. stuart: the only good thing about the last inflationary spiral that we went through is that it ended with a ronald regan landslide win. that's the best i can say about the inflation in the 70s, who knows what might happen.

>> that's about america. we always come back. one way or the other, may take a while but we're going to come back and get policies like in the 80s where america again is seeing as that shining city on the hill. stuart: wouldn't that be nice. steve forbes, thanks for being with us, we will see you again. >> thank you. stuart: thanks very much. change the subject let's go to the movies. top gun, maverick tom cruise's new movie if you didn't know it by now it's soaring in the theaters. roll tape. >> you just can't create this kind of experience unless you shoot it live. >> it's amazing what we see in the cockpit when an audience is going to experience. stuart: well, it is a huge success. i've not seen it yet. i don't know about ashley but how much has it taken insofar? ashley: no, but it looks great. worldwide, its generated close to $550 million. it's in its second weekend of release. the action film actually collect ed an impressive

86 million in the second week, from north american theaters alone. it now ranks among the top 10 highest-grossing second weekend in domestic box office history, and by the way its also become tom cruise's highest-grossing film ever at the domestic box office. so the question is, how has a sequal to a nearly 40-year-old film that was released before much of today's audience was even born become a hit? well look at this headline, politico has this headline that says top gun: maverick is america's cry for help and it's interesting the article suggests that after years of twitter, covid, social upheaval, oppressive pop culture, many americans are just desperate for permission to collectively feel good about our life, country, and culture, without any of the political baggage. i think they're right. it concludes by saying that the movie crystallizes our powerful desire to break free

from the malaise-ridden status quo and i think it's right on the money. stuart: i do indeed. well-said, politico. thanks very much, ash. next case, look at this. that is queen elizabeth, smiling at prince george the future king of england. the royals just wrapped up their queen's, the queen's jubilee weekend and they are getting into it and so are we. drivers paying an average of $ 6.34 for a gallon of regular in california. some stations charging up to and close to $10 a gallon. kelly o'grady has our report, next, from los angeles. ♪

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♪ stuart: all right that's the white house, of course

beautiful building. nice day, sunny, 78 degrees. pretty good. president biden announced he will exempt tariffs on certain solar panels coming into the u.s.. more details, please, ash? might be a big deal. ashley: yeah, it could be. the president is expected to declare a 24-month tariff exemption for solar panels being imported from four countries, cambodia, malaysia, thailand, and vietnam. it comes after a long-running investigation by the commerce department on whether the import s in the southeast asian countries were actually an attempt to circumvent tariffs on goods made in china. that probe also froze significant imports and stalled u.s. projects that the administration had been touting to combat climate change and do you know what, stu, i've just realized, that's the answer drop tariffs on solar panels and gas prices will plummet. genius! stuart: yes, well, how smart

they all are. all right, ash. and sarcasm is still a low form of whitt, and you know it. ashley: very effective. stuart: as of this monday morning, june 6, d-day, we've got a new high for gas, 4.86 is the national average. it's up $0.25 in a week extraordinary. kelly o'grady, well, she's at a gas station in los angeles. all right, obvious question, how much are they charging for gas at that station, kelly? reporter: oh, stuart, it pains me to say it. you can see it over my shoulder it's 6.99 a gallon here, and you know, if you're going to fill up a standard sedan that costs you about $100 every time and it begs the question. how high can prices go before consumers simply don't drive. well the sky maybe the limit as one gas station in california is charging near $10 a gallon. now, there are accusations of price gouging as it's the only station in town and most other locations in nearby areas are

roughly $3 lower however it is stirring concern this is where we're headed across the rest of the state and particularly concerning when it comes to the price of diesel at the southern california ports. 31% of all nation water trade passes through here and is then delivered via truck or rail. those big trucks run on diesel and higher freight costs mean higher costs of consumer goods. the president though is reportedly weighing a trip to saudi arabia to work with the opec nation on increasing production and cutting prices but his team this week was trying to convince americans there are external factors responsible for the explosion in gas prices. >> they've gone up $1.50 because of the unthinkable russian o greg in ukraine. >> the reality is the cause of this inflation is the supply chain problems that were caused by covid. >> when an oil company is deciding hour-by-hour how much to charge you for a gallon of gas they aren't calling administration to ask what they should do. reporter: now, the blame game, americans are growing even more

frustrated with how much they're shelling out. a new poll finds that 72% disapprove of how the president is handling the gas price crisis stuart prices have hit record highs 27 of the last 28 days, analysts are saying we could hit $5 a gallon mid-june for the national average but clearly here, $5 a gallon be a relief. stuart: yeah, a relief at $5 a gallon that's something else, kelly, thank you very much. show me the dow 30 please, we've come down from 300-point gain to a 160 point gain but we still got three-quarters of the dow 30 on the upside. apple's first-ever profit was the apple 1 computer. way back when, 1976 it sold for 666 bucks. it's worth a lot more than that today, and that, seeing on your screen, is just one of the auction items featured in a new fox nation series, "selling history." we're going to take a closer look at that, that's next.

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♪ stuart: we thought we would get one more use out of that

lovely graphic and that music. the queen's platinum jubilee has wrapped up. look at that, the queen made a surprise appearance at the big palace party. she unexpectedly came to the balcony, there she is, and the roar from the crowd was heard all over london. pretty remarkable. ashley? i was watching. i loved it all. what do you think? ashley: yup. me too. i mean, the brits do pomp and circumstance like that very well i think the out pouring for the queen was incredibly powerful and genuine and i think the queen was genuinely humbled by it, and it was so terrific she could make the appearance on the balcony there, at the end of the festivities, but it's also very clear that prince charles is kind of more, you know, slowly but surely, taking over the role of what the queen is doing. he's essentially the prince rege nt. charles is certainly not as popular as the queen, queen elizabeth, but what's interesting is, car el's son

william, much more popular than his father so it's going to be an interesting transition but as for the four-day celebration it was terrific and you know, the queen has met 13 of the last 14 u.s. presidents and the only one who didn't make the cut was lindsey graham on johnson and you know, no one really knows why he just didn't make the trip stuart: all right it's over and it was wonderful. ashley, thanks a lot. complete change of subject. my next guest obtains and auctions off rare items relevant to american history. this is all part of the all-new fox nation series "selling history." brief preview, roll tape. >> it is the board that changed the world. >> a revolution in tech. >> it's like christmas morning opening these things. >> built by the ultimate odd couple. >> it started with a $600 board made by a couple of hippies in a garage. >> now up for auction. >> of course i'm nervous . >> it's worth a pretty penny if it works. stuart: bobby livingston is with me, he's part of the auction

team. now you've got the auction items in front of us here. i want to start with this one which i'm not allowed to touch. ronald regan's putter. >> this golf club was used on air force one when reagan was on his way to geneva to make gorbac hev for the first time so this is the trust but verified putter and it was used to break the ice and tension as you can imagine, flying over for this first meeting with the soviet union. stuart: a great background story , how much? >> well we probably think it's going to sell for around 35,000 but you never know. it's a live auction. right now it's at $5,000. the bidding is open. stuart: now this is i'm interested in. that's the board from the apple 1 computer 1976. 666 bucks back then. how much now? >> well, we expect it to go for around three to 400,000. it's already up to $189,000 at the auction and we're going to sell it on june 23 so who knows how high it's going to go for. stuart: does fox own this or are you auctions it off on

somebody else's behalf? >> fox does not own this. this is owned by a consignor featured in the television series "selling history" and we'll see what's going to happen stuart: we'll get a piece out of that i presume. >> i don't think so. it's a great tv show. stuart: all right we'll take that. next in line i see that's the apollo 17 hand controller what's the significance of that? >> well that hand controller was used by gene sernan to bring back the final crew of apollo 17 back to the earth so when you see that splashdown, he's using that controller to guide us home stuart: is that that little knob , handle? >> it is. it was attached to a box that could rotate the spacecraft in the proper way. stuart: how much? >> well that's estimated at 70,000 they think it's already up to 15 on the website at auction.com. stuart: last one, for end there. that looks like a rose that jackie kennedy, i think she was holding that rose the moment of assassination is that accurate? >> that's right she was given

roses when she got off the plane at love field and they head through daley plaza and we know what happens and at parkland, the roses are left in the car, and at that point, we believe a police officer retained one of the roses but that's one of the episodes and you have to watch these shows on fox nation "selling history" you'll find out all the stories. stuart: it's an open auction, open now? >> that's right. stuart: june 23 the whole thing comes to a conclusion. >> that's right and it's broadcast live june 23 and all these consignors are going to be there and stay don't know what happens to any of these, how high it's goes or how low. stuart: bobby livingston, great to see you bring in some money. before we leave you oh, by the way, the episodes of this auction are available now on fox nation. got that. here's the , it's monday, the trivia question. today is the anniversary of d- day. the question is, how many

american troops stormed normandy 's beaches, 48,000, or 73,000, 91,000 or 112,000, what was it, the right answer after this. plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. . . mons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less.

♪. stuart: okay. it is june 6, anniversary of d-day. the question is how many american troops stormedded the beaches. ashley, what is your guest?

>> it was largest seaborne invasion in history? 112,000, number four. stuart: i was going with 91,000. what is the answer? number two, 73,000. 83,000 british and canadian troops joined 73,000 americans. the battle for norm nan did i lasted three months, june 44 to august of 44. time's up for me. neil, it is yours. neil: stuart, thank you very much on that. we're getting word in on back and forth between twitter and elon musk. elon musk you might recall earlier today there is possibility they could terminate the merger agreement because he is not entirely sure twitter has been on the up and up exactly how many customers it really has, how many are actually using the service. i could get into the weeds there. we'll follow it a little bit later. the stock is dipping on just that news. twitter out with a statement says, the company has, will continue to cooperatively share information with elon musko