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tv   Varney Company  FOX Business  July 19, 2022 9:00am-12:00pm EDT

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>> great to see both of you this morning, thank you so much for being here side-by-side. lou and angela, always great addition to the conversation and always great to see you. meantime, we are looking at the futures at 232 points on the dow and varney & co. is up next. ashley went there is an for the stuart varney and ashley, i'm going to send over your way. >> thank you very much, happy belated birthday to you and good morning, i am ashley webster, good morning. i am in for stuart varney. now the white house trying to take a victory lap for gas prices dropping call prices are down nearly 50 cents in a month but we are still up above 32 from a year ago so let me get this straight. when prices rise, the administration points their finger elsewhere. russia. when prices drop, they want to
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take the credit. we'll take that democracy on. get this, the president is expected to announce acclimate emergency this week. how's that going to help inflation and rising prices? his aunt, it won't. let's talk crime. ceo of starbucks, he's blaming democrat run cities the closure of his stores. more stores are going to close because america has become unsafe. we've got more this morning. there's this, indoor mask mandate making a return to some campuses in los angeles. we have vaccines, treatments and still questions over how well masks protect against covid. doctor marty makary will answer some questions taking a look at the market and premarket, the dow is up 228-point, s&p higher, nasdaq higher, the same story this time yesterday we finished on they're down. we'll get into that. all eyes are on netflix as a
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report earnings after the bell so we will preview that and a big lineup, miranda devine, bryan kilmeade, jim jordan and leo terrell among many others are here. it's tuesday, july 19, 2022, varney & co. about to begin. ♪♪ ♪♪ a little he's been hitting the ground running. sixth avenue toward central park, good morning, everybody. let's get right to it the president biden's approval rating underwater and 44 states now. a good friend todd, great to have you along today. take us through these ratings. >> the first before we get into
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the numbers, which six states in our great union are like well, here's biden knocking this inflation right out of the park. therefore things in particular to highlight, georgia, pennsylvania, ohio and wisconsin. you know why they are important, they are swing states states that have big elections coming up and midterms, georgia, president biden is minus 13, pennsylvania minus 19. ohio, 23 points underwater, wisconsin, 18 points underwater. you can understand why he feels the need to tell everybody i lowered gas prices. gas prices went through the roof and cripple the economy and budgets and home states but this is where we are. the white house is in trouble and they know it and every time i come on here you are on the news for the white house gets worse and worse and worse when it comes to midterms. the numbers and swing states are back news. >> they are indeed. california was one of those of
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course perhaps believes the president is crushing it but then of course we knew that. thank you very much. maryland heading to the polls today. lawrence jones is a dieter, good morning to you. take us through racist and what are the folks saying there? >> oh, they are not ready. he hasn't finished his on that yet. we'll get back to florence. let's move on, i wanted to say 25-year-old matthew is running his republican congressional candidate in maryland and he'll be joining us in the next hour. a young politician. what a thing. he's not 80, he's 25. let's look at the futures now, bring in bill and talk about the markets, good morning to you. okay, we have another nice little bump at the start according to the free market but where we in all of this? are we close to the bottom? can we see it from here? what are your thoughts?
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>> i wish i had a crystal ball but what i can see from a technical standpoint, the near-term is like 21 day moving average, the market yesterday's selloff is about that. a little bit of right shoulder, i think that's destructive on the downside. we can hold support levels aligning closely with the lowe's we had the past two weeks, i think that seems to go higher and people are under position, managers and investors where they get the market boost higher and driving force. i'm not so negative on earning, people look at compression over this year so far and now they are saying compression is tax. i think if earnings are light, i think a lot of the negativity there, we can see the market on bad news. you also have things like apple yesterday talking about slowing hiring and spending, this is a
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thing going on for a couple of months with other companies as well. the longer-term statement one to two years out there further, the companies are going to run leader and trim the fat other, exorbitant packages through employees with goals that don't align with the company so move away from that, i think these are things developing and when you hear about the slow down hiring, what is the fed's goal? the fed wants to take it out of the job market. i'm looking at this through a more positive lens as long as we can hold support. ashley: i like the optimism, bill. who's the leader? i asked this yesterday of an analyst for so long, the growth stocks and tech stocks have been leading the way forears. eroes dderseadep cdepemro irkimeng foard? d? t t a lsehe t adt.'mkingooororor yo u can ceauz ceaorn media,
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re weight utilities, overweight staples. this is not the time to be in utilities and staples. there will be a time when he walked more defensive and that's quite a bit higher from here in the market. i think tech will be higher a big earnings, tesla tomorrow and big names next week. if these big names which have negativity is showing decent remarks in the market, reject negativity, i think we have great leadership from tech and beaten-down or what were high multiple growth texts. ashley: what about the commodities if i'm reading your notes correctly, you kind of think is a rebound in the making x. >> absolutely. u.s. dollar right, he will get a lot of things right. i do think the dollar is starting to come in and i expect the dollar to top in the early stages of the cycle. this cycle is different as inflation moves higher so the
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goalposts, the that has to move them. i think from last week 9.1% deadline number maybe near-term but allow the goalposts to stand still and u.s. dollar can come in. if the u.s. dollar comes in, the precious metals not to mention it's going to be a blister for stocks but for precious metals you will see a lot of negativity there and managed money, hedge fund, this is an indicator you want to be a buyer of gold. >> very good, optimistic today. bill, thank you for joining us this morning with your market insight. we do appreciate it. lawrence jones finished his stack of pancakes and the dieter in maryland, he's ready to go. lawrence heading to the polls today, take us to the races and what the people are saying.
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>> us a big race going on, thank you for having me this warning. the republic and party right now, you got donald trump, former president of the united states of course backing talks for governor in the current governor hogan who is considered a moderate anti- trump so when i talk to folks today, interesting enough, i can't tell you where they are going to go but i can tell you the issues that matter most, it is economy, inflation, the cost of gas in goods when they go to the store. one man talk about even the cost to mow his lawn. one guy talked about $80 a day because he travels for work. these are the issues defining this election but i can't tell you where is going to go, i can't tell you. [laughter]
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ashley: well, i understand that. clearly lawrence the economy is the big issue of the day no matter what you say with the candidates those focusing on? >> it's all about the economy. the average day working people, everybody wants to talk about identity policy and three-tier issues but it people can afford basic goods to go to the gas station or mobs moms looking for baby formula or can't afford the formula, those of the issues that will matter to them in this election. the talk about the issues later, i heard a lot about crime and fentanyl, that is the border is a center topic. even though maryland isn't a border state, drugs coming across the border is impacting maryland as well as the rest of the states. that will be part of this election as well, definitely economy is the number one issue.
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ashley: also important, you had a good breakfast at the diner, i'm sure it's great food. >> i got biscuits and gravy. i'm never going to go to a diner and not eat biscuits and gravy. [laughter] ashley: thank you so much, enjoy your time. interesting stuff. folks in maryland going to the polls. as we head to the race, we are up across the board, data up to 36. we started the same way yesterday but lost steam after that news from apple about slowing down and less hiring and so on. we are starting positive again today. meantime, white house officials cannot explain the points of biden's middle east trip. >> was the reason for this trip? the price of oil a bill shut up. >> we have seen gas prices go
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down in the past three, four straight days. ashley: all right, did the president get anything done? we are going to break it down. can you believe this? two years into the pandemic in california bringing back indoor mask mandate. are going backward? doctor marty makary will be here to kick that off next. ♪♪
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♪♪ what a pretty picture that is,
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topsail beach north carolina this morning, lucky folks out there, enjoy. it's currently 83 degrees 9:00 eastern time. let's look at the markets of tonight, the dow up 200 points, 257. s&p up or%, nasdaq 1%. can we hold it through the day? we shall see. now this, some stores in the country have brought back mask mandate, say it ain't so. what is happening? >> i can't say it ain't so because it is so. los angeles county at the end of the month, that's expected to hit the high level of transmission, ten people hospitalized for every 100,000 expected soon the san diego unified school districts say masks are back for students, teachers and the remainder of summer school based on their current levels of transmission in san diego county.
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also the country has moved away from the unpopular restrictions, many parents calling our saying the decision is not being on science and will ultimately harm the kids they say they are particular. i know you are about to have a doctor on, we have doctors on our show earlier and say it's not the size, it's politics. ashley: exactly right. thank you very much. doctors in los angeles county hospitals say only 10% of covid positive patients are actually needed to be admitted because of the virus. doctor marty makary joins us now, great time to have you, doctor. it sounds like covid still infectious but not nearly as deadly as it has been or was so rainy back mask mandate, is it an over reaction? >> i think it is because the studies are now conclusive. we have a tremendous amount of schools that have been open free and clear with no masks and schools mask and was done the comparison, the analysis is
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done, far more data than last year and the data is conclusive now that masks have had no impact on transmission and schools. do you want to listen to the data or not? >> that's true but also what about the impact on kids? >> masks are not without harm and people forget where doing this the most defenseless population in the most ultra low risk population out there. when people wear masks, they are less happy so it contributes to the mental health crisis. ashley: no doubt about that. let's move onto the next one. experts at the nih and cdc quitting in droves over the latest decision to authorize covid vaccines for young children. i guess my question is, are you surprised and what does it say about the leadership at these institutions? >> just when you think the cdc cannot make another catastrophic decision after ignoring natural
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immunity for two years in school closures, after boosting young people yet again, they took a series of trials that found absolutely no benefit for vaccinating kids under five, no statistical significance. madonnas vaccine 4% efficacy in children and babies and no significance yet they approved and authorized it and are pushing it hard and new york is probably going to mandate it. why are we even doing these studies if you authorize it with a negative results? it takes mockery in the process and that's what a lot of officials at the cdc and nih are leading leaving in droves and they are upset. ashley: how much damage does this do to the credibility of these institutions who we rely on to tell us what the right thing is to do? >> one cdc senior official told me he's embarrassed to tell people he works for the cdc. he used to be proud and others
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are saying folks are getting bad advice and we can't say anything because of the rules you can go to the public when you work at these organizations so to rebuild that ability, i think they need to show humility, apologize as a physician, patient and forgiving when you're honest. ashley: i'm sure that is true. covid in general, it's now a part of our life, something we live with and we don't need to throw on the mask. if you want to get boosters, find but this is beyond where we just live with it, correct? >> infection fatality is less in influenza but with the word covid, it conjures up memories of lasher. we need to recognize every thing is less concerning for severe illness and most people will get covid five or six time in their lifetime, you can do all you want but it won't stop the illness. ashley: doctor makary, as always, great stuff. thank you joining us, we
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appreciate your expertise. doctor anthony fauci announced when he plans to retire. do we know when? >> a long runway if you asked me, the director of the national institute of allergy and infectious diseases, by january, 2025. the 81-year-old has held the job since 198475 decades under seven from presidents, most recently he became the face of federal covid-19 policy in 2020, his return the criticized for switching stances on how to pack tackle the pandemic. unrelated about i plan to unmount my retirement, march, 2058. mark your calendar. ashley: let me write that down, march 20, 58? [laughter] thank you so much, todd. now we know that. check the futures, moving higher
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in the premarket, market opening soon and the opening bell is next. ♪♪
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ashley: let's check the markets, netflix up one of the half%, good time to bring in red, good morning, ray. let's get to netflix reporting after the bell, what you looking for? >> the number one thing we looking for is subscribers. here's the challenge, we think is going to be a lot of the two millions prescribers in the last quarter and that's going to be huge because that will take them down to 220 million subscribers and that's what investors and analysts and everyone is looking at trying to understand, what's going on? then trying to figure out when ad revenue will kick in for microsoft going forward so expected loss in terms of 2 million loss on subscribers. ashley: you say it's going to take this partnership with microsoft about four quarters to
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capture global video at audience so it will take a while. >> 150 billing dollars out there, a chance for them to go after that revenue they are doing other things in the background making sure for example "stranger things" for came out, they released it all at once, they put some of it out, half of it and hopefully will stick around for the next one for the other half for your second part of watching. ashley: let's move on from networked flicks, the company reports tomorrow after the bell, what are you looking for their? >> what we are worried about is what's happening with their factors, shanghai is down, berlin not fully up and get factory needs to be fully ramped up and question of can they survive in terms of what's going on with the supply chain issues around chips and getting the parts and tools they need? especially for the batteries they are putting out there.
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the big thing is delivered, it looks like they're going to come close to what they deliver, might be a little bit, one or 2% off from a 300,000 range in terms of units produced, the capacity to do 1 million a quarter and not hitting that yet especially given what's going on in the global inventory supply chain with china shutdowns and lockdowns. ashley: you think tesla has done fairly well weathering the storm compared to other traditional auto companies? >> you're completely right, tesla is not well on the auto side, they've also been one of the only few text stops to do well. microsoft, apple, tesla, alphabet nvidia and amazon, apple. ashley: and of course if ever a car relies on chips, is tesla, right? >> definitely. chips everywhere, sensors, data and ai especially on autopilot and other areas.
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ashley: very interesting stuff. ray, thank you for taking the time to join us today. tesla up in the premarket, almost 2% and netflix reporting after the bell loose up to 2 million subscribers. as we get ready for tuesday session, we started yesterday's session on the up, i think the dow is up 300 early on but it all faded and went away for the closing bell yesterday so can we hang on with the opening bell? right out of the chute, the dow up to 32 points. not bad at all. look at the dow 30, lots of green. twenty-eight of the 30, j and j is unchanged. chevron slightly down, ibm slightly down on an earnings report today but overall, pretty positive you can see the dow up to 20 points. s&p up 1%, up nearly 40 points and 38, 71 and let's look at the
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nasdaq, big tip nasdaq up, 132 points again. let's look at these names in the early going, they are all positive. meta- probably the best performer, up 2% but apple and amazon also high. alphabet/google up one and a half. microsoft of 1%. i want to get back to netflix and bring in susan lee, we know the subs are big stories but would also be looking for? >> the full story is subscribers and the summertime, they usually guide drivers, they either lose or add in the next three months so as you saw last time, they said they will lose 2 million in the spring, 2 million is the floor. don't forget the last time they lost 35% stock price in one day after they said they lost subscribers for the first time in 11 years so i think is pretty
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much a low bar, anything that's a positive means the stock will go up and what with a guide for the summer when they have these hits like "stranger things" volume two x season for, a neutral stock in their view, better earnings may not be enough to bring netflix out of its fog. they still call at 350 for the stock which is incredible, almost a swing from 193. also netflix now starting to charge for charging for password sharing and starting in latin america, five latin american cities for a few months and will charge one to $3 a month and let's see how it goes. you can bet it up probably as good as here in north america also will see what they do when it comes to a report expected later on this year in conjunction with the partnership. ashley: well, they are coming after stuart varney in his sharing empire.
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let's move on -- >> i think disney and a lot of other streaming services are working closely. the last time that was pretty much the turnaround and will turn around for the entire streaming platform, there is saturation as some time. ashley: there is. let's want to ibm, i see they are down 6%, why? >> i think it's a nervous market so trying to find any excuse to sell. i think they are trimming their cash forecast, $10 billion, only. sounds great for a lot of others like the free cash flow but that's down ten and a half million so if you miss on any metrics, your punished in these markets. it's a strong report, the company began selling the mainstream computer during this quarter and by the way, it led to sales jump, 70%. compare that to the fifth
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decline, decline of 20% in the previous quarter so i thought it was a good turnaround and the spinoff of their infrastructure services business was successful in my view and they say it will boost their sales. ibm revenue for the next five to six quarters. ashley: i think it sounds overall pretty good but the markets are not agreeing, down 6%. we spoke about tesla, what's this about a lawsuit in germany? >> right now they are talking to germany we opened the factory that just opened this year, by the way a year behind schedule so they are facing unions in berlin and germany and when it comes to waste as well, there is some entanglement. i think tesla is going up in the right direction ahead of what you just talked to write about and you have the first hearing in the twitter delaware trial later today and whether or not
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will get an expedited case and some are saying one to $150 tesla stock the law must paying 44 million for twitter, it's stock positive. ashley: very interesting. you can looking at reports that came out before the bell, let's begin with lucky markets down. >> they are coming back down. one half% earlier in the free market, you saw a miss on sales and profits, they did but they also lowered guidance to 65 billion and there's market conditions and government spending and a slowing economy and you are down 1% burn, the oilfield services company on the top and bottom line second quarter profit was up pretty dramatically, up over 40% from a year ago thanks to a jump in oil prices and that ignited a significant increase when it comes to drilling demand. oil prices at the highest since
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2008 in the triple digit line. i wonder what opec announced yesterday they are going to possibly drill more and what it means for oil prices in the next three or four months. the toy maker came out with strong numbers, strong speech when it comes to profit. i would say sales was disappointed. ashley: interesting indeed. thank you very much, let's talk about billing, we talked about them yesterday, received a major order on new plans, we talked about this yesterday, how many planes this time? >> they are negotiating for possibly ten extra planes from another order, triple seven also partnering $8 billion worth of max just as well. i think it's positive making out with a report over the weekend talking about an industrywide slowdown, at least in their field for the next few decades. you have plane orders put on
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whether delta or triple sevens, it sounds pretty positive and they haven't signed these big large plane orders the last few years during covid, maybe there's a turnaround taking place. ashley: one would hope so. thank you very much, talk about the big board as well, about seven minutes into the session tuesday morning and you can see the doubt 261 points, up nearly 1%. let's look at the dow winners early going. we talked about boeing, that's up nearly 3%, gallup would have. goldman sachs as well. s&p 500 winners, a couple of cruise lines, caribbean, chronicle, american airlines, delta airlines, united also and under armour seeking and strongest socks on the s&p. the nasdaq, marriott is in there, applied materials, all of these stocks up, booking
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holdings nearly 3%. not a bad start for the day because we said that yesterday. coming up, the ceo starbucks, howard morning there will be more store closures. he said starbucks is a window into america. we have stores in every community and facing things in which the stores were not built for. this is just the beginning. they're going to be many more. pretty ominous. we will tell you who howard schultz is blaming for all this and kylie jenner branded climate criminal. we are going to talk about it next. ♪♪
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white house chief economic advisor, jared bernstein signaling the president may take executive action on climate change. listen to this. >> the president will aggressively fight to attack climate change because he knows it's one of the reasons he's here and for to transitioning from where we are where we need to be. ashley: i know who's chomping at the bit on this one, larry kudlow is with me. we've already seen the war against fossil fuels against the economy especially middle class so what more damage could this do? >> well, look at the party lines when joe manchin essentially vetoed the latest bill, tax hikes and various climate subsidies. the party line from the
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president, they are going to launch another regulatory, this is the most regulatory oriented mid administration we've ever seen, great damage done to the economy and business but here is what they are not considering, refused to consider and that is the supreme court decision, west virginia versus epa, that decision says any major regulatory action, i.e. major economic impact regulatory action cannot be done by regulatory agencies, they do not have the power and can only be done with congressional laws, clear legislative statutory mandate obviously they are not getting that so this is all bluff in my judgment, complete bluff. ashley: also another attempt as you put it in one of your up as, big government socialism, you mentioned regulations and desire to make sure they regulate
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everything, tax everything but this is not good for america. >> i do equate it, i think this radical climate agenda equals big government socialism because this is central planning, the power of the government to force down the people who do not consent by the way, there desires and wishes the game doesn't work that way and the supreme court decision was very important, elections are going to be worried about this, people do not want this regulatory socialism. they don't want this central planning. with respect to the war against fossil fuels which is utter madness, look what it's done. the energy crisis has skyrocketed, you're getting blackout in places like california and new york, even texas which has the fourth largest oil reserves in the world.
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even texas relies too much on so-called renewables, wind and solar. all of this, the administration will be stopped and ten to continue big government takeover. they are going to be stopped, that's the supreme court decision and congress. the senate couldn't pass their agenda. the polls say people do not want radical climate activism so the biden's are just going to have to deal with that and you know calvary is coming, just a few months, calvary is coming. ashley: just in time i hope. thank you so much. you're always to the points and we love that. don't miss larry kudlow dated today, 4:00 p.m. eastern there on foxbusiness channel. he's so great, is he not? new data shows how much middle income households are falling
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behind financially. how bad is it? >> this is and just talking points, it's real life hurting a lot of people. 75% people in the 30 to $100,000 range can say their earnings are falling behind the cost of living in 77% there will be a recession by the end of the year, as a survey showing a general uptick in financial worries in the last six months with 39% expected to be worse off financially in your, up from 32% in march and march wasn't that long ago, 20%. we know if you feel like a recession is about to come, that could mean a recession is because people rollback spending and on it goes. ashley: you're right and another one, we've talked about inflation outpacing wage growth quite a bit but not so much for ceos whose pay is surging. >> although the pay of the average worker rose 4.7% last
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year, real earnings after inflation fell 2.4% but ceos with the dreaded byword, increasing their pay by 18.2%, more than double inflation rate, the ceos of s&p 500 companies earning an average of 18.3 million last year, a ratio between ceo pay and work earnings reaching 324 to one, all this according to afl. they are fighting for union members who aren't ceos but that's a pretty large spread. ashley: good to be king. thank you very much. coming up, new york city schools are in trouble. enrollment expected to drop so what does the future hold for public schools? karol markowicz break it down for us. also with inflation soaring to a 40 year hi, americans are struggling to feed their families. lydia will have that report right after this. ♪♪
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grocery prices have risen by 12% in the last 12 months and that has lines of food banks growing longer by the day. lydia joins us with that story. our food banks able to keep up with demand? >> yes, they are able to keep up with demand for now but inflation running at 41 year hi, there are real concerns how much longer they can scratch the dollars to meet the growing demand. you can see a line here stretching behind me. i can tell you this line of senior citizens started forming before 8:00 a.m. this morning for distribution that began only a little while ago around 9:30 a.m. folks needing help to get the basics. produce, meat, canned vegetables from of the food bank of new york city has seen 92% increase
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in the number of visitors now than before the pandemic. they said at the start of this year, they were hopeful that need with dissipate because people are turning to work but this rampant inflation makes it the reverse. the need has only rose. >> there are new entrants to the food insecurity and people having to navigate this and it's simply because a dog does not stretch as far any longer. >> the need is evident across the country. you can see there some examples, phoenix, arizona said it's been distributing 70% more handouts this week, recently and june's than over a similar week a year ago. inflation not only exacerbating demand but challenging their
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supply. the cost of monthly food purchases for pantry in alameda, california has gone from $250,000 before the pandemic to $1.5 million now. feeding america is the country's largest hunger organization that says food banks are purchasing nearly as much food as they did last year but now paying 40% more now for the same purchases. here in new york city, the food bank, they are still able to meet the needs of people for now but they are trying to scale back and adjust the budget because inflation is so high but doing so without leaving people hungry is a real problem they are confronting at this moment. ashley: very sad side of the times. thank you very much for that report. let's look at the markets before we head to the end of the hour.
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we are up to 50 points on the dow, s&p up 1%. mastic same, up 1% and before i go, i've got to thank todd, our good friend for joining us this hour making the big announcement he plans to retire in 2058. >> if the number keep going up, i could make it sooner. ashley: okay, very good. fingers crossed. so much as always. still, miranda devine, jim jordan and leo terrell. 10:00 a.m. hour of bernie and company is next. ♪♪ ♪♪ ♪♪ she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle,
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you save on what you need without skimping on the things you love. ♪ you know how to spend a little less to get a little more to make life a little better. ♪ ashley: a bit of santana, beautiful blue skies in midtown manhattan. i am ashley webster in for stuart varney. let's look at the 10 year. the dow up 300 points. let's look at the 10 year
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treasury just under 3%, down half a basis point. let's look at the price of oil moving lower today, it is still at $101 for a barrel of crude and bitcoin is higher up 650 points, 2074 bitcoin. hunter biden's laptop shows he met with his father 30 times at the white house or the vice president's residence often just days after hunter returned from a trip overseas. miranda devine joins us, this contradicts the president's repeated denial of his son's his business dealings. >> it does and one of a
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mounting number of pieces of evidence but contradict the president's repeated claim which looks like a live that he knew nothing about his son hunter's business dealings, he maintained that throughout the campaign and his presidency. there is a new poll coming out this morning from resolution which shows the majority of americans do not believe the president, they believe he knew about hunter's business dealings and that he profited from some of those chinese deals, this is becoming an unsustainable problem for the white house and they have to address it sooner rather than later. ashley: the mainstream media is ignoring it putting it off as a right wing conspiracy theory. at what point does the mainstream media have to acknowledge it? >> very good question.
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it took the new york times 19 months to even acknowledge in the 24th paragraph of a story that the laptop is real and some of the emails on it after introducing our story in october 2020 when it counted before the election, it's too late now, people having joe biden remorse paying closer attention to the story. a grand jerry in delaware looking at hunter biden, if they come out with indictments it will be impossible. to ignore it. ashley: you have a new op-ed out that reads there's only one new yorker, alexandria ocasio cortez, fights for herself. is it that bad? >> it is. new york is in a parlor state when it comes to crime and cost
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of living, more interested in that than in more selfys, more self indulgence, and the guy on the steps of the capital, it didn't require her staff to call the capitol police five times, to continue rantz on social media, calling the cops insurrectionist because they refused to come to her rescue, after she was called by someone who never came near her. and a private police force at her beck and call. ashley: she repelled amazon's new headquarters, massive amounts of money, huge amounts of jobs. thank you for talking with us.
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some democrats meeting with donors ahead of the 2024 presidential election, what do they say? >> reports coming out, that includes kamala harris, gavin newsom, among those presidential ads in florida, those that have been meeting with donors including some quoted in these news reports. everyone is trying to figure out who is going to run and if president biden will run for a second term in 2024. on the gop side i want to note former trump vice president mike pence has made multiple stops as well in the first three states, in iowa, going back to new hampshire, south carolina, he has a nevada stop, both forced any primary
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calendar, making plans for a possible 2024 run. ashley: all sorts of jockeying going on. let's get back to the markets, we are positive. it is a good time to bring in scott schelladdy. where are we as far as the economy? the housing market is cooling off. what is your assessment right now? >> we are in a recession, the last 5 and a half months, july 28th reading here will tell us, and we have to ask ourselves why we are raising interest rates in the peak of an oncoming recession when we've never done that before, we have a unique situation where they are trying to fight
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inflation but the economy is melting down around them. i think desantis shifting under the fed's feed faster than they can keep up with it, overshoot and we've got rate cuts next year. we are getting a little bit, really negative right now and maybe the ultimate negativity will be confirmation of a recession at the end of this month and things start to turn around once we see the aisle of the storm. ashley: inflation, scott goldman's ceo says inflation is embedded in the economy but it is unclear if the situation will improve later this year. has it peaked or do we have pain to go? >> things have come off the boil a little bit when we talk about food and fuel but not forever. 9.1% means paying 9.1% more than last year.
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so just to keep it simple if we don't see a change in prices between now and next year what would be the cpi if there is no change in prices? it will be 0. they will say they have beaten inflation when we are paying $5 a gallon, that's the problem. what goldman sachs is saying is these prices will be sticky and we will not see them come down like people think but the government will say we are getting in front of inflation because the denominator is changing. the guy that made the money, reprinting menus from restaurants with the prices rising, probably going to be out of work when we see inflation tail off because prices won't go down again, labor charges are going back down and food and fuel will stay relatively tight. ashley: i am sensing a rather pessimistic scott schelladdy?
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>> i get called mister doom and gloom, if we take this car over the cliff which is what the fed is trying to do would you rather have me tell you about the view on the way down or what is going to happen when we get there? ashley: hopefully we are not going over that cliff. scott schelladdy, thanks for joining us. americans misery, grappling with 40 are high inflation. how does the inflation hate her to retirees? >> reporter: of all those benefits get taxed, 85% of those benefits get taxed, social security is going to be worth less when inflation goes up since it is limited in the amount of pay, there's a cost of living adjustment, the amount that is exempt it is limited and that hasn't changed
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since 1984 so if you look at possible adjustments looks like it is impact on the bottom line, $40,000 as i mentioned to you, those benefits could be 85% and inflation could push them into higher tax brackets and more could be taxed by uncle sam, so senior citizens keep less of those social security benefits. ashley: thank you. back to the markets, looking at some movers, johnson & johnson. lauren: i thought it was a strong report card, the guidance not great, not because of operational issues but strong dollar and you will hear this over and over again, hasbro, the toymaker will cut into the bottom line and how companies forecast, they saw $0.05 above consensus for the bottom line, revenue stronger
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than estimates as well. we had some takeover news, nrc, national cash, bought out according to the wall street journal by private equity firms, in exclusive talks. ncr is known as a check out technology company and big tech, yesterday we had apple, the news of apple slowing hirings, turning markets lower after lunch time. apple is slowing their hiring as a conservative reaction to the economy and no problems in the business according to bloomberg but apple the latest, alphabet and google's ceo, a companywide memo saying they are slowing their head count as well and amazon maybe hired too much in covid, there is a hiring freeze in meta-and snapchat, with advertising revenue. ashley: it is definitely a trend. starbucks closed 16 stores
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because of rising crime. the ceo says they are forced to shut down many more locations and we will tell you who howard shultz is blaming, president biden could declare a climate emergency as soon as this week, white house officials reportedly scrambling to advance the president's green agenda, the gas prices will continue to fall after the president failed to win the saudi's pledge to increase oil production. role that tape. >> the kingdom will not have further production capacity. >> based on what we heard i am confident we will see a few more steps in the coming weeks. ashley: gas buddy's patrick dehan will take it on next. ♪♪
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ashley: the white house blamed putin when gas prices skyrocketed but now the prices have come down slightly, they want all the credit, funny how that works out. peter doocy at the white house this morning, take us through it. >> reporter: we continue to hear from officials at the biden white house that when gas prices, or prices on anything else goes up, it is out of the president's hands and putin's fault but when prices drop even slightly it is because of the president's plan and he deserves credit and that has people asking whether or not
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there is a double standard. >> no both way thinking, i disagree with that framing. what is happening is a president who is working tirelessly to address the largest constraint, the toughest constraint facing american households right now. >> reporter: president biden came back from middle east without firm commitments to drill more even though that was on the to do list but white house officials say that is okay because the president is releasing oil from the strategic petroleum reserve and urging gas station owners to lower prices. in a memo the commute occasions director is writing, president biden's top priority is tackling inflation and reducing prices and his plan is working, the press secretary added this. >> we have seen gas prices go down. in the past 34 straight days. >> higher than when you took
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office? >> first of all we have to look at how we got there. think about the war that russia has taken on in ukraine. >> reporter: it is july 19th which means it is one year to the day since president biden said about inflation, quote, our experts believe and the data shows most of the price increases we have seen are expected and expected to be temporary but in the days since, the data and the experts have been proven wrong. ashley: hate to see if that is temporary what fool time is. we are receiving mixed messaging on saudi arabia's role, the saudi crown princes his country will increase production but the white house expects more. listen to this.
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>> translator: in this era and beyond the kingdom will not have further production capacity. >> we see the oil price and prices at the pump at the fastest rate we've seen in a decade based on what we heard, pretty confident we will see a few more steps in the coming weeks. ashley: mixed messaging, just in time, sounds like the white house trying to take a victory lap, isn't that a case of a drop in demand which is behind what this is about? >> it is about the fundamentals, not the rolling prices going down. and it drove prices up. we've seen things developing, demand has gone down because of high prices. americans are spending less on
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fuel than in june but were half $1 billion more than we spent on fuel a year ago. a lot of this, prices declining because demand is softer but because gasoline supply has increased, we are seeing jitters about the economy and as it slows down we can see a slowdown in oil consumption as well. ashley: as we look beyond the summer season and hurricane season can really cause problems for gas prices depending how bad it is. what do we expect in the fall? >> we had to make it through hurricane season which is supposed to be above average, that could cause prices to go back up hopefully by later this fall we will see another measure of relief, national average under $4 a gallon because fundamental demand
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declines, the biggest question, geopolitical questions about the economy. will we see a recession when gdp numbers come up in a few days time? that is the biggest question. there's a possibility gas prices will be lower but keep in mind, historically elevated levels. ashley: how much lower? i will put you on the spot. >> i was hoping by mid august, nothing changes and we don't see any major hurricanes we could drop under $40 a gallon. i am hoping to see $4 a gallon through the closing of this year if everything goes right. ashley: great information, thank you very much. russia's energy giant gas prom
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threatening to send less gas to europe, you have the story. >> this is the russian squeeze we been anticipating and some would blame europe and germany's overreliance on russian energy, wide not diversify when you have a chance? russia's state gas giant, unforeseeable event, blaming the ukraine war, germany's energy, they reject this and they will contest this ruling, there are fears that there will be a complete gas shut down and remember how vital that is with russian gas heating a lot of european homes but after what russia called the shutdown the last few weeks there are doubts across germany and europe, about a full restart later this week on july 21st, the eu gets
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40% of their gas imports, this overdependence how much that will impact them and inflation because gas prices will skyrocket in the winter months. ashley: the definition of being vulnerable to russian gas. president biden may declare climate emergency, what does that mean? susan: this is after manchin squashed the spending bill. if he declares a climate emergency he could possibly use the defense production act and ramp up production of a wide range of renewable products like more solar panels, the washington post is quoting three sources saying the president could be empowered to take new action when it comes to greenhouse gas emissions, clean energy, but the thing is he does have a case
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politically, 40 million americans, the white house and administration say because of climate change. ashley: i am sure solar panels will do a lot for the gas pumps but thank you. climate activists are taking aim at reality star kylie jenner. why the makeup mobile is being branded a climate criminal. today is primary day in maryland, all eyes on republican congressional candidate matthew folde who garnered endorsements from mike pompeo to kevin mccarthy and he joins us next. ♪♪ i want it all ♪♪ i want it all ♪♪ i want it all ♪♪ i want it now ♪♪ i want it all ♪♪ wealth is breaking ground on your biggest project yet.
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ashley: let's get you caught up quickly on the markets. the dow up 443 points. s&p also up 1.5, same story on the nasdaq. how this can hold through the rest of the session. today is primary day in maryland.
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voters heading to the polls. aishah hasnie is in walker's bill, maryland. it could be a close race on the gop side. >> reporter: that is right. all eyes are on this big gop gubernatorial race, it is a tight one and it has turned into a proxy war between the current governor, larry hogan, and donald trump so take a look, these are your gop front runners. hogan is supporting former state, secretary kelly shoots while trump has endorsed dan cox. all four have been trading barbs with hogan questioning trump's influence and last night trump putting out this statement saying get rid of shutdown rino larry hogan who's trying to get another one into office, kelly schultz, dan cox will be a great governor,
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shoots just cast her ballot this morning. i caught up with her and asked her about the trump attacks. >> reporter: are you worried about his influence in the state? >> i know i am not a rino, i have been a republican my entire life. when we focus on people other than the candidates it is a distraction. >> reporter: calling it a distraction. primary results could hit one major snag. in maryland, mail in ballots cannot be counted until two days after the primary, that is thursday, something governor hogan refused to change. as of yesterday there were 500,000 ballots in the box. since we are looking at tight races, waiting a couple days before we find out the final results. ashley: matthew folde joins me
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now. national gop endorsements pouring in for your campaign, and kevin mccarthy, mike pompeo, donald trump junior and larry hogan. that's got to feel pretty good. >> not as good as the reception has been on election day, our third polling station and a ton more to go. republicans across the country and more importantly the sixth district of maryland are united behind our campaign and it is heartwarming to see this from derek county to gaithersburg, throughout the course of this campaign it has been phenomenal because republicans understands we need to win new republican district so we can fight corruption, stop inflation, defend the police and that is what my campaign has been about and the making it easy for us
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to unify republicans across the state and country. ashley: the age issue, young voters fleeing president biden, they want -- the average age, 58 in the house, 64 in the senate. an age limit at age 70, 71% would have to retire which is remarkable. you are 25 years old. is a time for the older politicians to step aside. >> in 2072 i would not be as old as people driving into the ground. i don't think the problem is the age of these people, joe biden is a failed president not because of his age but his failed policies. aoc is a problem not because she is a millennial but because she is a socialist. i don't think the age is a problem. that is what i see on the
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campaign trail, whether it is young republicans were young republicans at heart people are excited for new generation to take over because it is our future on the line and being bankrupted by politicians with no stake in what is happening in the future, that is helpful for me as a congressional candidate, getting people supported. ashley: getting back to the issues, what do you think? >> the economy is the number one issue. the number 2 issue and the number in the number 3 issue. we are heading towards inflation, the highest it has been in our lifetimes and this is where my experience as an investigative reporters so helpful. we know the $1.9 trillion in alleged covid relief went to fund with liberal wishlist priorities more than helped the economy and democrats made clear if we don't take the house back, if we don't take
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the senate back they have $5 trillion in spending coming down the pike that somehow they will gaslight us into believing is not going to further destroy the economy, further destroy currency, turn the dollar into venezuelan currency, that is why we need to win elections in maryland, on day one not only will i be opening government offices that are current congressman closed, i will be an absolute hell no vote towards the $5 trillion of spending democrats seem to be set on inflicting on the country if we don't win. ashley: we wish you the best of luck, thanks for stopping by on this busy day to chat with us, thank you very much, a young face in politics. there you go, thank you very much. now this, verse ceo of starbucks, howard shultz, sounding off about the recent store closure in major cities. where is he putting the blame?
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susan: he's blaming democratic mayors and city councils for abdicating their responsibility when it comes to fighting crime and mental health issues, a window into america, and we are facing the things that are not built for, this is just the beginning, they are going to be many more in my view at local, state, and federal level, governments across the country and mayors, governors and city council abdicated their responsibility in fighting crime, starbucks closed 16 stores that were profitable, making money but because of a high crime rate it was unsafe for their workers and in that statement you heard howard shultz warning the more stores might need to be close, our jewels, the interim ceo of starbucks after kevin johnson stepped away, only the beginning. in 2018 starbucks complemented an open bathroom policy after
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the store manager had two african american men arrested for not ordering coffee when sitting in a philadelphia location, some say because of the open process, allowing everybody and it has made it unsafe for some workers and some stores. ashley: pretty rough indeed. now this. a new report shows 68 top officials in the white house had two years of actual business experience. kind of explains a lot, hilary vann will have the full report in our next hour, one in four americans say they want their next car purchase to be in ev and automakers like general motors hope to cash in. grady trimble will give us a preview of the chevy blazer ev right after this. ♪♪
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♪ if you shop at walmart, you get it. ♪ you know how to spend a little less to get a little more to make life a little better. ♪ my little family is me, aria, and jade. just the three of us girls.
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ashley: a lot more buying than selling on wall street, the dow up 434 points, the s&p up one. 5% of the s&p, 1.5%. now this. new data shows crypto miners moved hundreds of millions of bitcoin in just one day. how much are we talking about? susan: $300 million, 14,000 bitcoin's moved out of crypto wallets in one day according to one analysis, the last few weeks the largest amount of bitcoin's have been moved since 2,020 one and the reason, there is concern over the money and the cash, in order to raise cash to continue these operations, in austin, texas and when bitcoin is 70% below
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record highs, with less money for the bitcoin, there's a report that says 6 of the largest crypto minors up there, to mind their bitcoin's. cooling homes might take precedent over those power grids so lawmakers, signing a letter asking more regulation, more transparency, you have marky, sheldon, merkley funding a letter with jared huffman and rashida tlaib. the entire crypto industry says regulation is fantastic if you set the guidelines, and the break for anybody to adhere to help institutionalize and mainstream the entire industry. ashley: level the playing field. now to electric vehicles,
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brand-new chevy blazer, and getting a sneak peek, grady trimble out in lala land, show us the car. >> reporter: i will show you two versions, this is the blazer ev are x and the sleek red one over here is the ss, the priciest but also the sporty us version that will be available. in total while i show you the inside i will tell you about the vehicle. there will be free four trims with different features. this one will cost you $66,000 but there are some more affordable options as well. the range will vary depending how much you pay from 250 miles roughly to 320 miles on a single charge, all of them will go from 0 to 60 in four seconds. impressive with those electric motors. as far as lower price point,
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that will be $45,000. what's chevy sees as more attainable to everyday americans, the head of chevrolet tells me they have work to do when it comes to widespread electric vehicle adoption. ashley: >> working with governments on incentives would help charging infrastructure, big investments, those things will help as well but consumers are starting at the point they are ready to go. >> reporter: we are seeing consumers purchase more electric vehicles, the first quarter of this year, electric vehicle sales for new vehicles up 76% only 5% of all new vehicle sales but taking in the right direction if you are an automaker who is all in on electric vehicles like general motors, still some barriers and they know that like infrastructure for charging and affordability but they say these vehicles take them closer
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to the price point that is available to every day consumers like you and me and they say these are for mass production, big volume with the chevy equinox which will be at a lower price point around $30,000. we can expect to hear more about that in september. we will keep you posted but for now, the ev blazer. ashley: very nice indeed, those sales numbers are pretty impressive. may be we have turned a corner. the corner. grady trimble with the latest chevy blazer ev. thank you very much. kylie jenner, changing gears, facing backlash after she and boyfriend travis scott boasted about their private jet, can't do that. people are calling her a climate criminal. ashley: you don't have your own private jet? i thought you're going to pick this up. blue 5 i tried to borrow mr. varney's. lauren: only 5 or 6.
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when you are kylie jenner and you are 24-year-old multibillionaire you are boasting of his and hers private jets on instagram a lot of haters might say why are you doing that. she flew to van nuys which takes 17 minutes, when user complaining one of many, this one saying why do i have to limit my meet consumption and 1% pumps tons of carbon? ash? ashley: very interesting. i've got to tell you it doesn't take that long in a car, seems a little excessive. thank you very much. let's get to the tease, back with so much more news after this. ♪♪ we all need a rock we can rely on.
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when you get 4 lines. switch to xfinity mobile today. ashley: sorry we are a little tardy but time for brian kilmeade. good morning to you. the district attorney's office dismissing charges against the
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harlem bodega worker josé alba. i think that the right thing to do. did public pressure get to the da? brian: i hope to. governor huchul said i'm going for 4 more years, you're embarrassing me, i speak for you and for me, americans are fed up with crime being out of control and this bodega worker who was about to become a victim of crime decided i had enough, i will try to walk away, they would let him, i will try to get away and de-escalate, they wouldn't let him. audio was up on the camera and you heard all that and when he had no choice, it was him or the career criminal, he got a box cutter, stabbed him, the guy dies and the girlfriend i hope is charged. the girlfriend was stabbing him in the arm because she had no money on her ebt card and said i can't give you any food because you have no money. that's the way it works in
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america and she said i will get my boyfriend and that started this thing. she should be charged for starting this thing and charge for stabbing a guy. ashley: thank god for cctv because we would have gotten a different story. the new york mayor getting a handle on crime? he talks a good game, all over the city crime scene but is he grasping it, making headway? brian: he is making on murders from 973 to 903 fantastic and shootings are down, guns off the street he claims but he had a unit, the anti-crime unit that was undercover not wearing windbreakers that said anti-crime unit on the back might be effective. number 2, 34% of crime is up, you see the front page of the new york post, grand larceny through the roof, grand theft auto through the roof, burglary, rape is up 11%, so far is not happening and he's having a hard time recruiting
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officers. he needs them at full strength, needs to pay them more and start watching their back and make sure qualified immunity stays par for the course because we have some democrats get in there and get rid of it, an officer gets sued because they would be suspect, no one is going to do that effectively. ashley: i want to move to the administration, the point of president biden's recent trip to the middle east, i will get your thoughts. >> the commitment and price of oil, to go there and have it. >> but again we have seen gas prices go down in the past 34 straight days. >> higher than that? >> first of all we have to look at how we got there, we think
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about the war russia has taken on in ukraine. ashley: you can't explain what the point of the trip was, when gas prices are going up they blame vladimir putin and now they are coming down, they are taking the credit. an absolute mishmash of mixed messages. >> reporter: people want to focus on the fist bump, press secretary can spin her way out of anything, she' s an ideologue on the water on other channels, how vicious she was against donald trump, that is not a disqualifier. jen psaki was more effective. go to israel, basically get rebuked say nearly way to get iran's attention is to show you have a legitimate use of force, he says we can still -- diplomacy is the best way and he goes to saudi arabia, decreased the price i expected, he goes the next day and say it is impossible, we are at max strength. if you want to get tangible
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things done he walks to saudi arabia and says the iran deal is dead because they in iran are at loggerheads in the middle east. we are better off siding with iran and if you want to do that, they will do stuff for you but when you walk over and say i like to sit and talk and get to know you when they know you and don't like you that is a problem. is real should have been pressured to back ukraine and back away from russia because they have unjustly invaded the ukrainians and if anyone understands that it is israel they should have been pressured publicly to stop kissing up to russia because it is the wrong thing to do. as two things the president would have looked tough on in been in america's best interests on, we could find out he offered trillions of dollars, billions of dollars, a trillion by 2032 iran to not build a nuclear weapon.
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>> i think a lot of people are having joe biden remorse, grand jury in delaware peaking at hunter biden if they come out with indictments it will be impossible to ignore it. >> party line from the president on that is launch
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another regulatory assault. i think this radical climate agenda equals big government socialism because this is central planning and the game doesn't work that way. >> what is the fed's goal? take the job market and i am looking at this through a positive lens as long as you look at support. >> we are in a recession the last 51/2 months and even faster than they can keep up with. ♪♪ ashley: on tuesday morning looking at fox square next to sixth avenue. i'm ashley webster in for stuart varney, let's look at the markets, an hour and 1/2 into the tuesday session, looking very rosy, the dow up 490 points, the s&p up 2%, the
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nasdaq up 235 points. look at the 10 year treasury, that yield coming down, crude oil down $0.54 still at $102.10. down half of one% on crude and the 10 year treasury doing, we do, it is up 4.2 basis points above barely above 3% but there you have it on the 10 year. the national average for a gallon of regular is $4.49 down $0.50 from a month ago. the white house denying taking credit for the drop despite blaming putin for the rise. listen to this. >> having it both ways? when the gas prices go up it has nothing to do with the president. when we see some decline you want them to get the credit. >> i think there is no both way thinking here at all. the president has reacted from the beginning talking about how
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this was such an important priority, he presided over the largest historical relief barrel of oil from the strategic reserve, one hundred 80 million barrels, then talked to global partners to get them to kick in 160 million. >> it is putin's fall, when they are coming down he gets the credit? >> i disagree with that framing. what is happening is a president who is working tirelessly to address the largest constraint, the toughest constraint facing american households right now. ashley: brad blakeman, they can't have it both ways no matter what they say they take pret creditor prices coming down, quick to talk about it at every opportunity but it was all putin's falter when prices went up. what say you? >> what i say as you can fool some of the people some of the time but not enough of the people this time, people get it and understand laws of supply and demand and when the biden administration came in they
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limited our supply but demand was still there for gas. what do we do? released the strategic reserves, there would have been no need if american is this is were able to exploit our own energy uses and no need for the president to travel across an ocean to pander to foreign governments like saudi arabia, to increase their supply and demand, american people understand where the blame lies and it is right squarely at the white house. ashley: let's get more into the political side. former vice president mike pence returning to new hampshire next month. he made stops in iowa, south carolina and nevada. is the gearing up for 2,024? >> no doubt about it. he appeared at one of the premier events at anthem college, pretty much the first stop this early for people dipping their toe in the water for 2024.
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it is clear he has that intention. i saw him in phoenix a few weeks ago talking about our border crisis. he was very effective, had a great message, great turnout. mike pence, you can bet your bottom dollar that he is going to be a contender into thousand 24. ashley: what about trump desantis scenario? what are your thoughts about trump versus desantis made the? >> it could certainly happen. a lot of republicans talking about governor desantis, a lot of people talking about tim scott. a lot of names. good news for republicans is there is a deep bench of young dynamic leaders in the executive level of governors or u.s. senate, congress, we do not have a slim bench at all and i think you will see a lot of people in the coming months
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visiting places that are typically the barometer of whether they have the intention to run. stuart: ashley: doocy donald trump running again and what does that do to the equation on the gop side? >> i don't see the former president running. he has a hefty war chest, but in america we tend to see ex-president fading away especially at his age and there's a lot of good donald trump did, has a great record and people are running, and use the mantle that the president brought and deficiencies when we lost that leadership. if he passes the mantle, those great service to the party and getting republicans elected. ashley: on the other side, president biden, should he run
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again? >> no, he should not. don't take my word for it. there are a lot of democrats and independents totally dissatisfied with his lack of leadership, lack of results and malaise that has hit this country. last time that word was used was jimmy carter and we know what happened then. ashley: great to see you, brad blakeman, good to have a chat. check the markets, bring in michael lee who will hopefully save my voice. have we reached bottom? >> i don't think we've reached the bottom, we been under the moving average for 60 straight days, the first time since november, and we just have so
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much uncertainty, how deep is that recession is how long will it last? that is hanging out there, no idea how far the fed is going to go. i believe the market will bottom, once the fed will pivot, the bond markets are predicting the fed will reverse course and cut rates but until that is a widely held consensus i don't think the market will bottom. we have lower employment, the one talking point for people who are bullish on the economy starting to see that fall apart with the likes of apple announcing they will be freezing hiring and you are hearing, employment is a lagging indicator. when times are good, look how good the job market is, the bears, quickly remind you this is a lagging indicator, not a
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forward indicator and i am a bear and i will say that employment is a lagging indicator and employment is the last shoe to drop when things fall apart and we see that now. ashley: how long does this go on, do you think? >> great question. what you need to remember about markets and the economy is markets move far in advance of where the actual economy is going. at some point at the beginning of january smart people haven't figured out it was time to get out of the market and so in 2,008 the market bottomed in march of 2,009, unemployment bottomed in april 2010. we are typically a year to 18 months out in advance of where the overall economy is hopefully at some point, third quarter of this year we see the bottom of this bear market and start to recover, move on to sunnier days.
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ashley: i like the sound of that. the earnings, what have you been keeping your eye on and what are they telling you? >> low expectations, beating expectations, not particularly getting great guidance, we will see about advertising and if they see subscriber growth, subscriber losses slowing and at a trough. we will see how that goes going forward. ashley: thank you for bailing me out as i was losing my voice. thank you so much. let's bring in susan, you are looking at the movers. let's begin with the travel sector. susan: got to lay off the vodka, too early for that. give me a break. let's take a look at some travel stocks, when you take those flights another rally
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today for the travel sector, bank of america's ceo brian moynahan, americans are spending, consumers still spending, just not spending on things but looking for experiences and travel so american airlines restarting these roots, the actual passengers, starting between charlotte and frankfurt on september 7th. and despite higher fares, delta says this year's sales will be double digits above 2019 before the pandemic so that means a boom from boeing, the playmaker, new order this morning for 12 of the 737 air maxes from aviation capital and another 5 dreamliner is being ordered in separate order, delta put in their first order for one hundred, 737 maxes this week, not the first big order for delta in a decade for boeing and ten big freighters ordered from farm barroso
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boeing crushing it after that freeze during covid when not a lot of airlines are spending and talk about netflix, roku, morgan stanley cutting price target to $80 and streaming content providing those netflix earnings tonight, 2 million so losses, above 2 million, positive for the stock, testing the new password sharing in latin america, and when do we get what they have now tasked microsoft for partnership for? ashley: lots to look for. now imagine this, sending a text or email by thinking about it. that is what one tech startup is doing with their new brain device, you think about it you can write it. fascinating. and armed citizen likely saved lives when he shot the gunman at a mall in indiana but
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gun-control advocates say that hero shouldn't be called a good samaritan. we will look slaney outrage over that and a new report shows on average top white house officials have less than three years experience calling their qualifications into question. hillary vaughan has that report from washington next. ♪♪
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break free from the big three and switch to xfinity mobile. ashley: a new report by the committee to unleash prosperity, top officials in the executive branch have 2.4 years of experience tackling
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economic challenges. hillary vaughan has more details on this report. >> on top of voters lines today. advisors told him inflation is just temporary, one of his top economic adviser said they retire using the word transitory to describe inflation not because it was wrong but because it was ambiguous. >> the ambiguity about that word, some people transitory, and the cadence that was implied by that word, the temporal cadence implied by that word lead led to a level of ambiguity that wasn't serving the debate very well.
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>> reporter: some suggest the president may not be getting the best advice, biden should clean house and put people with actual business experience on his team. the committee studied his economic team and found while a lot of them had experience in government and academia, business experience was hard-to-find, treasury secretary janet yellen has 0 years of experience in business. so does labor secretary marty walsh, the chair of the council of economic advisers has 0 years of experience in business but the director of the national economic council has at least three years of experience in business, the committee writing, quote, the biden administration made diversity a major goal of its administration but one area that is sorely missing in the diversity goal is in attracting talented and experienced men and women from the field of commerce and finance and we reached out to the white house
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for a comment on our story, we are waiting to get a reaction but as soon as we do we will update you. ashley: you may have to wait a while. senator mike brown, republican from indiana. you are a small business operator and have been for many years. does lack of experience on the economy at the small business level show through this administration? >> no doubt about it. look at advisors on the healthcare crisis to everything they try to weigh in on because they are enterprise or through government, pay attention least to those of us who run something. mine was a small business for 20 years, the benefit of growing into a national company and still roll like the small business that just got large. those benefits that we would bring to run anything, not to
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mention the largest business in the world, the federal government, underappreciated, ignored and when you try to bring them in their won't be many leaning in your direction politically when you do so many things that try to thwart you in the first place. sad because this is a place that revels in government run by the seat of its pants and the results speak for themselves. ashley: they do. let me move on. i want to talk about the white house pushing for slimmed down healthcare only reconciliation package. it comes after joe manchin wouldn't support the climate agenda. you are introducing a new budget this week. what are some of the highlights? >> in this case it would be to not dig a hole deeper, not pile on to the $3 trillion plus we spent during the biden administration so far, the inflation bomb. let's make it simple.
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what was working pre-covid was an economy with no inflation, at least appreciating the private sector by getting rid of regulation rather than adding to it. my budget does the same thing. sadly, this has been a bipartisan effort that has gotten us to where we are. i call it the unholy alliance, we rolled over to get everything we want, give them everything they want and now we are $30 trillion in debt and biden put a blueprint out for future generations, $45 trillion in debt in ten years. shameful. mine shows us how to get to a balanced budget in ten years. any ceo can fix this like rand paul's budget in six years. i want to make it to where no republican could vote against it because we talk about it, oftentimes go along with the enterprisers on the other side. ashley: doesn't compromise a dirty word these days?
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>> it is because look where it has gotten us. sometimes you compromise your way into what will be a fiasco for future generations, this is a simple effort, i will take it to the floor this week, try to say this is painless, gives you ten years to get into primary balance meaning anything other than interest shouldn't be any reason for republicans not to vote for, democrats won't because they believe in the opposite approach, pay for that politically in november. ashley: we shall see. always great to talk to you. thank you for your time. now gun-control advocates are outraged that the man who shot the indiana mall shooter is being called the good samaritan including one person who said in part i cannot believe we live in a world where the term can equally apply to someone killing someone. my god. the gunman shot three people before he was killed by that
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armed citizen and that hero is credited with saving several lives. let's take a look at the markets continuing to march strongly on this tuesday morning session, the dow up one. 5%, the nasdaq up 2% and the s&p up one and 3 quarters of one%, can we hold these gains through to the closing bell? one tech startup is working on a brain implant that can translate thoughts into things like emails and texts, sounds far-fetched but fascinating. susan: it is not elon musk's neural link which would be the obvious choice, the closest comedy when people think of chips being implanted in heads to translate thoughts, it is another company called singh krohn which implanted the first chip in a us patient so they beat elon musk's neural link to this. they are helping als patients
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by texting what he is thinking, a huge step forward for medical innovation. the chip is 4 and half inches long and will help the als patient who has lost the blue to move or speak, to surf the web, email and text. four patients artie got the first chip. we know neural link from elon musk is worth $1 billion, sink ron --synchron i don't have a valuation but i suspect it is close to $1 billion or so if you are trying to advance medical procedures. ashley: fascinating. may be that is the future. thank you very much. now this. the historic sears building los angeles could soon be turned into a homeless shelter. leo terrell call this a crime and will be here with his take. look at this poll, 28% of
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americans have a great deal of confidence in public schools. carol markowitz doesn't expecting to get better anytime soon and she will be next to talk about it. ♪♪ meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care,
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you get a different kind of bank.
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♪♪ ashley: that's not a song you hear very often on "varney and company," brass monkey by beasty boys, they are finally getting an honor that is years in the making, the new york city council just approved plans to rename an intersection beastie boys square. fans have been fighting for this change between 9 years and finally they've done it. fight for your right to party, that's the beastie boys, elon musk and twitter fighting for the first time in court today. good time to bring in susan, you have been following this closely. susan: the arguments have
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started in this virtual hearing, twitter is arguing and they said at the earliest trial date, public dispute arms twitter with each passing day, twitter says the deal expires october 24th so they need to given a 4-day trial and all they need to prove their case, mid february trial. i want to go through the twitter lawyer arguments this morning, this started in the last 30 minutes or so, twitter lawyers accusing musk of pretending to execute the merger agreement and prompt schedule, this is a direct breach of agreement, musk should be investigated by the sec in this case, contractually inexcusable conduct, some of the words being used, and hurting their ability to retain
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employees, and single judges, no jury here, most say team musk has a high bar to brew the twitter didn't use the regular information. he waved due diligence, financing agreements. he didn't get the right information from the number of bots, he gave the data that it is up to you, the onus is on you. it will be interesting. up 39 here, wall street believes he can walk away with a multibillion dollar fine or he buys twitter at a cheaper price. longer this goes on and he's arguing for this case that helps his team with ad revenue and slowing environment, twitter might say we will give it to you for less then $54.20. ashley: fascinating, one of the
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lessons, never waved due diligence. you will be following it today. susan: to go through with it is the take away. ashley: for that amount of money, different subjects, the ongoing baby formula short is getting worse despite the white house flying in millions of bottles from overseas. what is the latest? susan: 28% of powdered baby formula product, it ended on july 10th, that number is higher than the end of may, they were dominating the news headlines and worse at the start of july and the end of june, and the stock percentage should be sitting at 5% to 7%, a wider range of brands, operation fly, the get baby formula back in the us, 40 flights around the world and
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experts saying this could be a consumer customer affording when you are so fearful you can't get any access to any supplies. ashley: a recent gallup poll shows 28% of americans have a great deal of confidence in public schools. carol markowitz is a mother and columnist at the new york post, good friend of the show. do you think our schools are in a downward spiral? is that going too far? >> public school system is in crisis across the country but i particularly highlighted new york, my home state where i lived until january when i publicly moved to florida and part of it was the new york city schools were in deep deep trouble under control of teachers unions not focused on the actual children and heading in a bad direction. ashley: the question is how do
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we fix it? the controls of the union, a stranglehold, how do you fix it? >> step number one is to give parents options to get out of the system, school vouchers is an obvious choice, the arizona model for school choice is something other states should think about. my home state of florida does very good school choice program. this is a given. the kids deserve to be where they are learning. parents deserve to have options. this is all, it shouldn't the up for debate and teachers unions should not be able to shut down this conversation because they think we should be beholden to their school model, that school model is not working for so many children and what we've seen the last two years is can't even count on that school model anymore, public schools close longer than private schools did in public schools in areas where the unions have control like in blue areas like new york and california and illinois, long close, absolute longest and
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they hurt kids so we can't count on them anymore, we need options and choices and parents need to take their kids where they want to get them an education. ashley: 30 seconds. how do schools compare to new york and florida? >> i'm impressed with florida's public schools and a lot of that has to do with governor ron desantis and permitting what he doesn't think kids should be learning like gender identity in k-3 which is an obvious thing for most parents, public schools in florida are really good and i'm impressed by them. ashley: very good, great stuff as always, our reporter in florida, we appreciate it very much. before we head to the break i want you to look at this, live look outside of london and we have a slew of fires burning. and the united kingdom a record heat wave.
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it is 104 °. these are temperatures never seen before in the uk. records are dropping overnight lows last night, broke records and those fires burning on the outskirts of london and fields, all of europe, spain, portugal and france suffering through this. tiktok the latest tech company to announce layouts reportedly cutting jobs around the world. charges dropped for the colbert crew arrested at the capital. house republicans calling that a double standard for the left. congressman jim jordan is here next to react. ♪♪
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ashley: the house committee will be considering a ban on assault weapons but they will meet tomorrow to mark up the bill, good time to bring in congressman jim jordan, republican from ohio. you are on that committee. give us the background. >> the democrats are clear they want to take away peoples second amendment rights, we are going to fight that as republicans, as conservatives, the second amendment is crystal clear, the right to bear arms shall not be infringed, it doesn't say you can infringe those rights if it is an assault weapon, what they defined as an assault weapon, as clear as can be, what they are trying to do was unconstitutional. think about the democrats, this money in your wallet, less gas in your car and less freedom because they are going to try to take away your second amendment liberties. don't know if they have the votes to get to the floor and if they get to committee
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they've got to get to the floor next week, still a chance we can stop this piece of legislation. ashley: it is interesting, we had the shooting in the mall in indiana and the so-called good samaritan who had a legal weapon was able to stop this person killing more people, he was called a hero by police officers but gun-control advocates say he is anything but a good samaritan, that shows you the divide in this country over how weapons and guns are perceived and the right to carry them. >> they want to get rid of the second amendment, during the debate a month ago on the red flag law which was unconstitutional, deny people their due process, they said it is a myth that there is good guys with guns who will protect people. it just happened last week, a good guy with a gun saved a lot of people so they are wrong
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about that and part of this bigger pattern of attacking fundamental freedom. we saw they tried to form the disinformation governance board, all the things they did were unconstitutional limiting freedom during covid, what the fbi is doing to moms and dads who show up at school board meetings, this is part of the pattern of the left to restrict american liberties, i think the american people get it for what it is and you will see a big change in the midterm elections. ashley: i think so. another one i want to talk to you about. tween 9 members of the stephen colbert late night staff arrested for that unlawful entry into the house of reps building last month being told they will not be prosecuted, why are they getting a pass? >> a double standard, unfortunately the country understands it, the way this justice department, the most political justice department in history targeting parents, conservative parents who show up at school board meetings not doing this, not enforcing a
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statute for protesters outside supreme court justices homes who were protesting with the intention to influence the court which is on point, the double standard, those tween 9 individuals were told they couldn't come back into the capital complex without some kind of escort, they were already in once and were kicked out and came back and nothing happens to them and we know the contrast that americans pay because it is not supposed to work that way, it is supposed to be equal treatment under the law for everybody and why the country is so fed up with president biden and why they will make a change. ashley: do you hear from your colleagues on the other side of the aisle about this president and his performance so far? >> you are seeing in, the new york times ran a piece a week or so ago about frustration with the biden administration,
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they haven't done anything right but the biggest indicator how bad it is is almost tween 9 of ten of our fellow citizens think the nation, the greatest country in history is on the wrong track. when 90%, almost 90% of the country think the country is on the wrong track they think that because it is the case. everything they have done has been a disaster and so much has been done intentionally which is harder for people to grasp. that's why you see the frustration you do from the american people. ashley: terrific stuff, thanks for taking time for us today. california governor gavin newsom stoking 2,024 rumors around the white house, shirtsleeves, waves. is he getting ready for a run. leo terrell gives his take next. ♪♪ ready to go right now ♪♪ ready to go right now
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ashley: tiktok is cutting jobs around the world. susan, how many are we talking about? susan: 100 employees laid off,
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just a small percentage here but wired is reporting european staff were worn to their jobs were at risk and expect an hr meeting in the coming weeks. tech layoffs, freezes have impacted market sentiment. bloomberg reporting apple slowing their hiring, not firing and only in some divisions and turning the morning rally around yesterday, apple being conservative and a slowing growth environment and talking about slowly hiring last week, a companywide memo, netflix laying off a few hundred, meta has a hiring freeze and amazon over hired during covid and probably the thought on wall street is they will lay off a few thousand workers. ashley: it is a trend. now this.
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kamala harris and gavin newsom are engaging donors in preparation for a potential white house if president biden doesn't run. leo terrell is with us. the newsom harris ticket a winning ticket? >> absolutely not. they are running for president because president biden is not going to run after the midterms. let me be as clear as possible, newsom is the worst governor in this country, crime, homelessness, critical race theory but that is not a prerequisite to stop him. he is a woke progressive and all the candidates who are running our woke, you have that comment with jim jordan, 90% of america believes we are in the wrong direction but progressive left doesn't care. they think they know what is best for us so he gets a free pass because he is going to win
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reelection notwithstanding that. he is running for the presidency. ashley: what is he going to say? so many left my stay because they are fed up with high taxes, i can bring that to the country, is that the message? >> gavin newsom is in denial, he thinks he is running a great economy in california. crime every day in california, critical race theory, open borders, abortion on demand, all those things are unpopular with 90% of the american public on that will not stop gavin newsom, you have kamala harris, the most incompetent vice president ever selected only for identity politics. what has she done? what has she accomplished? will that stop her from running? no. why? she is woke. to be the democratic nominee in 2024 you have to be woke and
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the reason president biden is not running is he is not woke enough, progressives kicked president biden to the curb, game over for biden. ashley: to this issue talking of crime, the manhattan district attorney's office dismissing charges against the harlem bodega worker josé alba, you have to be right with that decision. >> as a 30 year attorney, those charges never should have been filed, he charged the wrong person. she was a victim and it was clear he could not win this case, soft on prosecution, logged criminals, they do not like the victims, forced to drop those charges. ashley: which is very disturbing, alvan bragg, you see this video, can't understand how he could have brought that charge in the first place and it speaks to the bigger problem. >> could you imagine if there was no videotape? could you imagine that? this victim would be in jail right now.
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ashley: i think the criminals these days because of these woke policies feel very emboldened in a new york bodega, they don't fear the consequences of their actions. >> soft on crime, let's not forget chicago, philadelphia, seattle, the pattern, democratic mayors, democratic governors, we have a problem. ashley: that is no coincidence. leo terrell bringing the heat today, thank you for bringing the time to us. appreciate it. guess what? the tuesday a trivia question a good one, how many miles long is the us/mexico border? 1933, 2220, 2598, two thousand nine hundred five? put 2905? put your thinking? we have the answer right after
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ashley: all right. so earlier we asked you how many miles long is thes move mexico border? part of the world which talk about a lot as you know. i thought it was220. i was wrong. the answer is 1933. number one. of course of the border spans four states from california to texas. let's take a look at these markets if we can. we started off the same way
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yesterday. lots of happy gains. everything was great. we get a report from apple we'll slow down our growth spending. we'll put a freeze if you like on hiring. that spooked the markets and we love all the gains. hopefully apple won't say anything and we can keep these. i've done my best. i carried the load. i will pass on the gains to my good friend, neil cavuto. take it away. neil: nothing like a little pressure, my friend. thank you very much. look at dow jones industrials are in around session highs, up 526 points. we're in the middle of earnings season, a good many of them through this process beating expectations. those expectations have been revised sharply down going into this. we weren't expecting much. so now queer obviously looking at this from a different light. so looking at that, after the bell, the earnings and more importantly the subscriber news out of netflix. that is probably going to

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